Rubenstein Warns: House Bill to "Almost Certainly" Increase National Debt

The House Republicans passed a multitrillion-dollar tax and spending bill this week, sparking concerns about its potential impact on the national debt and deficit. David Rubenstein, co-chairman of The Carlyle Group, a prominent figure in the financial world, weighed in on the matter, stating that the bill will "almost certainly" increase both the debt and deficit. Rubenstein's analysis transcends partisan politics, highlighting the bipartisan nature of the issue: "It's not a Democratic or Republican issue." He emphasizes the difficulty of cutting spending, given that a substantial portion of the budget is dedicated to interest, debt, and entitlements. His comments underscore the challenges facing policymakers in addressing the nation's fiscal outlook. The bill's passage in the House, by a narrow margin, further highlights the political complexities involved. The situation underscores the need for bipartisan cooperation to address the nation's growing debt and deficit.