PANews reported on April 11 that economist Peter Schiff wrote on the X platform that Republicans in the U.S. House of Representatives had just passed Trump's "big and ugly" budget. Schiff said that the budget had raised the debt ceiling by a record high, resulting in higher fiscal spending and deficits than during the Biden era, and warned that the United States had broken free from the constraints of foreign creditors and might start an "unlimited quantitative easing" policy in the future, further exacerbating inflation and fiscal risks.
Recently, the House of Representatives passed the budget framework bill with 217 votes in favor and 213 votes against. The budget bill proposed a framework for tax cuts and raising the debt ceiling. It plans to cut taxes by up to $5.3 trillion over the next decade and raise the debt ceiling by $5 trillion.