Last night, Republicans pushed through Trump’s so-called “Big Beautiful Bill.” Let’s be honest, there’s nothing beautiful about it unless you’re a billionaire with lobbyists on speed dial. For everyday American families? It’s a punch to the gut.
This morning, my team and I combed through all the information we could find on the passed bill. What we found should infuriate you. This bill hands out tax breaks to the ultra-wealthy, slashes clean energy investments, and guts critical programs like Medicaid and SNAP. If it passes the Senate, an estimated 8 to 10 million Americans, many of them veterans, could lose their health insurance over the next decade.
The bill also gives substantial tax breaks for the wealthiest Americans, amounting to trillions of dollars over the next decade. Analyses by the University of Pennsylvania's Wharton School estimate that the bill will provide approximately $3.1 trillion in tax breaks to the ten richest Americans, including Elon Musk, over the next ten years .
Let that sink in: We're talking about policies that actively strip vulnerable Americans of basic care, just so billionaires can walk away with a bigger slice of the pie.
And the price tag? The nonpartisan Congressional Budget Office projects this bill will double the current deficit and tack on another $3.8 trillion to the national debt. And that’s the conservative estimate. Because of the way it’s written, full of budget gimmicks and time bombs, expert warn it could actually balloon the debt by $15 to $20 trillion over the next ten years.
The average American is being played just like investors were played in the six companies Trump bankrupted. This is all about borrowing more debt to help the wealthy and letting everyday Americans deal with the consequences later.
If the Republican majority Senate passes the bill, or any version close to it, and they will, Americans like you and me are in big trouble. So are our kids and grandchildren.
This bill doesn’t stop at hurting families. It goes after your wallet from every angle.
Want to buy a home? Good luck. Mortgage and home equity loan rates are headed up.
Thinking of buying a car? Car loan interest rates will jump too.
Struggling to pay down credit cards? That just got harder.
But the ten richest Americans? Well, thank God Trump, Speaker Mike Johnson and the Republican majority House made sure they’d be OK.
This morning in interviews, experts are warning Americans that this bill will trigger higher interest rates across the board. That means it will cost more for businesses to borrow money to expand, hire, or raise wages. The result? Fewer jobs and lower paychecks.
And while we’re slashing lifelines, don’t expect reinvestment in public services. This bill guts the funds we need to fix roads and bridges, improve schools, and maintain public infrastructure.
The long-term outlook? Economists are warning this bill will lead to a weaker economy and a lower standard of living for American families.
And as debt piles up, so will the cost of servicing it. Higher interest payments on our national debt will drag down the stock market, hurting retirement accounts, college savings plans, and every emergency fund people have fought hard to build.
Even Douglas Holtz-Eakin, a Republican economist who advised President George W. Bush and once led the CBO, didn’t sugarcoat it. His verdict? “This is a bad outcome.”
Now, the Trump White House is trying to sell this to the public as some magical growth engine, that it'll “pay for itself” by lifting wages and supercharging the economy.
Nice try.
According to the Penn Wharton Budget Model, this bill might boost GDP by a measly 0.5% over the next 10 years. But it’ll also rack up $3.3 trillion in additional deficits (or more depending on the experts mentioned above) in the same timeframe. That’s like setting your house on fire to warm your hands.
And let’s not forget Trump’s track record.
During his first term, Trump increased the national debt by a staggering 39%. We went from $19.9 trillion to $27.75 trillion under his watch. He added more to the national debt than any president in American history, by a long shot. Nearly a third of our total debt today is thanks to Trump-era policies.
So when you hear Republicans bragging about this “Big Beautiful Bill,” remember: it’s not beautiful. It’s brutal.
It trades your child’s future for a billionaire’s yacht. It abandons veterans, working families, and small businesses, just to bankroll tax breaks for the already rich. It weakens our economy, undercuts our security, and mortgages our tomorrow.
And for what?
So Donald Trump can slap his name on a bill that does nothing but make America harder to live in—for everyone but the wealthiest few.
This isn’t leadership. It’s looting.
And we deserve better.
Mitch Jackson, Esq. | links
Related
I wrote in more detail about the bill earlier this week- Trump’s “Big Beautiful Bill” Stinks and Is Just a Big, Fat Con
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And the Democrats don't have the votes to stop it in the Senate. So, it is a done deal.