Mars Finance News: Economist Peter Schiff posted on X platform that the House Republicans just passed Trump's "big and ugly" budget proposal. Schiff stated that the budget bill sets a record by raising the debt ceiling, bringing higher fiscal spending and deficit compared to the Biden era, and warned that the United States has escaped the constraints of foreign creditors and may launch an "unlimited quantitative easing" policy in the future, further exacerbating inflation and fiscal risks. Recently, the House passed the budget framework with a vote of 217 in favor and 213 against. The budget proposal outlined a framework for tax cuts and raising the debt ceiling. The plan aims to reduce taxes by up to $5.3 trillion over the next decade and raise the debt ceiling by $5 trillion.
Peter Schiff criticizes Trump's budget: it will lead to higher deficits and "unlimited QE"
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