Josh Bivens
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joshbivens-econ.bsky.social
Josh Bivens
@joshbivens-econ.bsky.social
Mostly here for discussions of economics and policy. All views here are my own.
Finally, I'd just note that part of this disconnect is that many of us don't realize just how much incredibly vital stuff the federal govt does every day. Even small cuts (and the OBBB cuts are not small) to these have dire consequences for human welfare. 11
June 12, 2025 at 2:59 PM
The parade is big and in-your-face and infuriating, while the OBBB is a boring piece of reconciliation legislation slowly worming its way through Congress. But the OBBB is much more important – folks should focus more attention and advocacy on stopping it. 10
June 12, 2025 at 2:59 PM
Note that ALL of these things absolutely are happening in the OBB - it's not the "this or that" implied in comparisons of the parade's cost to other social priorities. 9
June 12, 2025 at 2:59 PM
The OBBB also cuts key investments that would help spur the needed transition to a cleaner energy economy. These cuts could be as high as $460 billion, or almost 3 parades every single day for the next decade. 8
June 12, 2025 at 2:59 PM
The OBBB is also cutting assistance to purchase health insurance on the ACA exchanges by $30 billion per year. That’s just about 2 parades every single day for the next decade. 7
June 12, 2025 at 2:59 PM
SPLC noted that the parade cost could provide nutritional assistance to 14 million students. That would be a better use for that money! But the OBBB is cutting food stamps by more than $20 billion per year. That’s a parade every single day for the next decade. 6
June 12, 2025 at 2:59 PM
The SPLC noted that $45 million could cover 6,000 people with Medicaid for a year. It would be a better use for that money! But the OBBB is cutting Medicaid by $70 billion + per year every year. That’s more than 4 parades every single day for the next decade. 5 www.splcenter.org/resources/ho...
5 things $45 million could pay for instead of military parade
The expected price of the June 14, 2025, Army display through Washington, D.C., could instead provide for critical services and programs.
www.splcenter.org
June 12, 2025 at 2:59 PM
But since people have gotten intrigued by the waste of money in the parade, here’s a comparison between that cost and what it means for other social priorities, and what the OBBB does for those. Sorry if folks have done this already and I missed it. 4
June 12, 2025 at 2:59 PM
I get that we’re all overwhelmed with how much bad and stupid stuff is happening. But the scale of bad and stupid of the OBBB is, I’m afraid, being neglected. It is a catastrophic bill for tens of millions of people and makes us a much worse country. 3 www.epi.org/blog/house-b...
House budget bill would kick 15 million people off health insurance and damage local economies
Update: On June 4, 2025, the Congressional Budget Office released a new estimate that as many as 16 million people would lose their health insurance under the House's budget bill. House Republicans wa...
www.epi.org
June 12, 2025 at 2:59 PM
$45 million for something stupid is obviously too much. But, again, I’m surprised at how much angst there is about this price tag and what it means for other should-be priorities of the US as compared to discussions about the OBBB winding its way through Congress. 2 www.nytimes.com/2025/06/09/o...
Opinion | Seven Hidden Ways Trump’s Megabill Would Remake America
www.nytimes.com
June 12, 2025 at 2:59 PM
And what the GOP budget ideas mean for all of these flows will inevitably cause pain. There's no legislative dishonesty that can avoid this. 3 www.epi.org/publication/...
There will be pain: Continuing low tax rates for the rich and corporations will hurt working families
Extending Trump’s Tax Cuts and Jobs Act will have painful trade-offs for the U.S. economy and most Americans.
www.epi.org
April 7, 2025 at 2:16 PM
It calls for huge tax cuts, mostly for the richest households, but pretends these can be hidden with budget gimmicks. But markets don't care about whether or not something is called "current policy" or "current law", they care about taxes, spending, deficits, and debt. 2 www.cbpp.org/press/statem...
New Budget Resolution Is Upside Down, Hurting Families the President Pledged to Serve to Shower Tax Cuts on the Wealthy and Powerful | Center on Budget and Policy Priorities
Congress is speeding down a path to a deeply harmful budget and tax “reconciliation” bill that showers tax cuts on millionaires, billionaires, and corporations — and pays for it in part by raising hea...
www.cbpp.org
April 7, 2025 at 2:16 PM
The Trump economic agenda is intense short-run pain to bring us to a long-run equilibrium where we're noticeably poorer than we'd otherwise be. All forms of income - including profits - will grow more slowly going forward and the market's not wrong here. 2
April 7, 2025 at 1:37 PM