Hey there! 👋 Have you ever heard about the government’s budget? It’s like a big piggy bank 🐷 that helps run a country. Recently, in the United States, something important happened. The U.S. House of Representatives (a group that helps make laws) passed a new bill (that’s like a big plan for how the government will spend and earn money).
This bill is making some people worried. Why? Because it might make the country’s debt bigger. Debt is money that is owed and needs to be paid back later. Imagine if you borrowed lots of money to buy toys and games, but then had to pay it back with your allowance. If you borrow too much, it becomes hard to pay back!
Also, this new bill might cut help for people who need it most. Programs like Medicaid, which helps people get medical care when they are sick, could get less money. That means some people may not get the help they need. 😔
Some leaders and experts are saying this isn’t a good idea. For example, Dean Baker, a senior economist (that’s someone who studies money and the economy), said that this bill would make the national debt grow by about $3 trillion! That’s a huge number! It’s like 3 followed by 12 zeros! 💰💰💰
Others, like Senator Chuck Schumer, believe that cutting funds for things like Medicaid and food assistance will hurt many people, especially those who rely on them. He says this could lead to places like small hospitals closing, and make it harder for people to get food if they need help.
Even though the bill gives some tax cuts (which means some people pay less money to the government), it also spends more on things like defense. This means the government might end up spending more money than it has, making the debt even bigger.
Some people worry that having a big debt is not good for the country. It’s like if you owed your friends lots of money—they might start to worry if you can pay them back.
So, what’s next? The bill will go to the Senate (another group that helps make laws) to see if they approve it. If they do, it will become a law, and these changes will happen.
It’s important to think about how government decisions affect everyone, especially those who need help the most. What do you think about this bill? 🤔
Reference(s):
U.S. bill blasted for raising debt, cutting aid for low income groups
cgtn.com
