US House Republicans have reached an agreement over Donald Trump’s multitrillion-dollar legislative plan to cut taxes. On Tuesday, the US president urged his party to approve his “big, beautiful bill” in a rare visit to the US Capitol.
it's apparently big and stimulative with much of crappy things in there, huh...also what's another ~300bn a year extra deficit among friends?
It could raise US debt by more than $3.3tn over the next decade. Yet, in its current form, the economic consequences risk being far uglier than the president portrays.
The bill would push the US debt-to-GDP ratio up around 25 percentage points to a record 125 per cent by the end of 2034, according to projections from the Committee for a Responsible Federal Budget.
I mean, (un-)nice and true and all, but it's not like Orange Man or this specific bill is what's responsible for that...
there are significant cuts to Medicaid entitlements, which could leave millions of vulnerable Americans without health insurance cover.
Good, fuck em. It's bad policy anyway
"ultimately, the bond market will have the final say. Without serious attempts to rein in US spending, investors’ reaction won’t be pretty."
non-paywalled: https://archive.md/Vp5SM
