Can our industry actually discuss and/or acknowledge the fiscal impacts of this Big Beautiful Bill? This is going to add trillions to our debt at a time where economic activity is slowing and the interest on our debt is ballooning. Moody’s just downgraded our debt and our first instinct is to double down. We are borrowing against future generations with zero ethical reservations. In the words of Elon Musk, this bill is a “disgusting abomination”.

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I think the bill is generally fine, but I agree more focus on debt reduction would be appropriate. I would definitely double down on DOGE and try to reduce the federal workforce by at least half. We need to quickly embrace AI and automation.

likefunny

Expenditure reduction is a must right now along with increasing tax revenue.

Bessent says that we'll be growing at greater than 3% growth by this time next year. He's totes credible these days, don't worry about it, we've been liberated from having to worry about this kind of stuff now.

funny

Cracking me up 🤣

like

I just can’t wait to reference OBBBA instead of TCJA all the time. It’s much more fun to say

likefunny

I find the name of the bill as superfluous as its contents.

what does this have to do with accounting, hoss

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Everything… the financial health of our nation has everything to do with accounting. It shapes the rules, risks and relevance of accounting. Macroeconomic policies can have drastic downstream effects on our clients.

likesmart

The Build Back Better infrastructure bill is what we needed. Got exactly the opposite in trumps bill.

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