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Why some economists say the deficit increase in Trump's bill is dangerous ABC News - Breaking News, Latest News and VideosTrump expected to sign tax-and-spending bill in win for administration The GuardianFive major policies to know from the One Big Beautiful Bill Act Fox Business
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If we think about the economic effects of President Donald Trumps big taxing and spending and domestic policy bill, we can roughly sum it up in one line. It goes something like this:
We will make many big tax cuts permanent and pay for those tax cuts by cutting Medicaid and a few other things and also...by borrowing money.
A lot of money.
Even more than we've already been borrowing over the past twenty years. (And that was already a lot, too!)
Today: simple arithmetic with profound ramifications. Tax cuts, spending cuts, and whether they balance out. (Spoiler: no.)
We look under the hood to see how all this is calculated. And we ask: how will a bigger deficit play out for all of us, in our normal, regular lives?
We've covered a bunch more having to do with the big taxing and spending bill and the federal debt recently on Planet Money and our short daily show The Indicator:
- So, how's this No Tax On Tips thing gonna go?
- A thought experiment on how to fix the national debt problem
- The paperwork trap: A sneaky way to cut Medicaid in the 'One Big Beautiful Bill'?
- The debt limit, the origins of the X Date, and why it all matters
- What's a revenge tax?
- Is the federal debt REALLY that bad?
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ICE prepares detention blitz with historic $45 billion in funding The Washington PostGOP tax bill bets big on Trump's immigration agenda despite poll warnings The Washington PostIn Trump's new budget bill, Latinos pay a hefty price Los Angeles TimesHow Immigrants Will Help Fund Trump's Tax Cuts WSJSenate Approves Unprecedented Spending for Mass Deportation, Ignorin
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Trump Says White House Will Host a UFC Championship Fight as Part of U.S.'s 250th Anniversary Celebration VarietyPresident Donald Trump wants UFC fight on White House grounds ESPNTrump kicks off 4 July celebrating tax-and-spending bill and promising UFC fight at White House The GuardianFull 'Idiocracy': Trump's Bonkers Plan For White House Event Gets Panned By Critics Yahoo NewsTrump says he'll host a UFC fight at the White House as part of "America250" celebrations
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How Trump's big spending bill will overhaul repayment for millions of student-loan borrowers Business InsiderWhat will student loans look like after Trump's spending bill is signed? USA TodayWhat Trump's Big Bill Means for Colleges, Student Loans and Grants The New York TimesGeorgia's universities and students will see changes under Trump's tax bill AJC.com
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Asia-Pacific markets trade mixed ahead of Trump's deadline for higher tariffs CNBCStocks, Futures Slide on Trump's Tariff Threat: Markets Wrap Bloomberg.comAsian stocks wobble, dollar edges down with tariff deadline in focus ReutersAsian Shares Are Mixed as Trump's Tariff Deadline Looms, While US Stocks Set Rec
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'Selling' the megabill: Republicans tout taxes, Democrats point to Medicaid cuts ABC News - Breaking News, Latest News and VideosHow your income taxes will change after Trump signs the ‘big, beautiful bill' into law The HillGame on: Republicans, Democrats trade fire over
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Republicans are gutting subsidies for the fastest growing sources of U.S. electricity, solar and wind. Among the biggest winners will be China.
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The food assistance program known as SNAP could face significant reductions if President Trump's tax and spending bill passes the House.
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Topic: PoliticsTo my various Republican and conservative friends, it's time to talk about Donald Trump. In particular it's time for hard thinking on whether, for the sake of the GOP and conservatism, it's past time to cut him loose. Not for any of the arguments made by your leftie friends, but because it's the right thing for you. It's also time to leave the sinking ship.
To quote Lindsay Graham, back when he spoke his true mind about it, "If Donald Trump carries the banner of my party. I think it taints conservatism for generations to come." Graham isn't the only one who has said this or used to say this. An astonishing fraction of conservatives who worked in the Trump White House have said worse, even published books about it. You can discount a few as sour grapes, but there's far too many of them. Even Mike Pence, John Bolton, Mark Esper and his Chief of Staff John Kelly. Dick Cheney has called him the "greatest threat to our republic." And of course, what J.D. Vance said about Trump before he decided Trump could be his path to power. There's been nothing like this before, which should wake people up.
Look at this list and note it was made after Trump took near-total control of the party. (Bush has sworn to be apolitical but nobody doubts his feelings.) Not just them but multiple close relatives, Mark Burnett (who made Trump, as producer of the Apprentice) and Tony Schwartz, the ghostwriter of "The Art of the Deal." Of all past nominees a
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