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NEC Director Kevin Hassett on the One, Big, Beautiful Bill

Name: NEC Director Kevin Hassett on the One, Big, Beautiful Bill
Uploaded: 2025-06-09T15:49:55+00:00
Duration: 47 s
Channel: Your Advisor
Description: NEC Director Kevin Hassett says rescissions will cut $170 billion in spending over the next year to eighteen months, and claims 3% economic growth would…

9 Jun 2025 · 1 min

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0:47

NEC Director Kevin Hassett says rescissions will cut $170 billion in spending over the next year to eighteen months, and claims 3% economic growth would raise $4 trillion in revenue, more than the bill's estimated cost. He argues the bill plus rescissions will reduce the deficit.

Questions this video answers

About $170 billion.

About $4 trillion.

Chapters

And so the fact is that we've got rescissions from stuff that we've found at OMB and also with DOGE that will cut spending over the next year and a half outside of the reconciliation bill by about $170 billion just over about the next calendar year. And so there's all this other stuff coming. And I think that the budget hawks have seen the work that we've done that's going to give them rescission packets after rescission package. And so I think that in the end the budget hawks are going to understand that this is a great bill. But don't forget if we get 3% growth, then that increases revenue by $4 trillion, which is way more than the deficit increase that CBO estimates for the cost of the bill. So this bill by itself is going to reduce the deficit. But we're also coming after spending big with rescission packages that we've been identifying so that we don't have to continue to fund the dancing of chipmunks and so on.