Intro

This week, editors Peter Suderman, Katherine Mangu-Ward, Nick Gillespie, and Matt Welch critique President Donald Trump's proposed tax legislation and its fiscal irresponsibility, discuss the national deficit and credit rating downgrade, examine the media and political cover-up of former President Joe Biden's cognitive decline, and highlight the broader consequences of institutional failure and partisan denial.

0:00—"Big beautiful bill" breakdown

2:21—The MAGA (Money Account for Growth and Advancement) baby account boondoggle

13:54—SALT cap debate and wealthy blue state subsidies

19:12—Proposed Medicaid cuts and "fiscal illusions"

23:02—Moody's Ratings downgraded the U.S. credit rating system. Does this matter?

27:09—The Supreme Court takes up birthright citizenship and nationwide injunctions

34:41—Who pays tariffs? Trump vs. Walmart

40:24—Listener question: Is the economic inequality data bad?

46:09—What did we know about Biden's health and when did we know it?

48:24—How the media didn't responsibly report on Biden's health

1:01:04—Weekly cultural recommendations

Mentioned in this podcast:

"GINI Index for the United States", by St. Louis Federal Reserve

"Everyone Agrees Government Is a Hot Mess. So Why Does It Keep Getting Bigger?" by Nick Gillespie

"The Long and Whining Road: The Beatles, Boomers, and Boredom," by Nick Gillespie

"Still Fab: Why We Keep Listening To the Beatles," by Charles Paul Freund

"Equal Pay for Equal Work: Appreciating the Female Half of Power Couples," by Nick Gillespie

"Trump's Tax Plan Is a Leftist Economic Agenda Wrapped in Populist Talking Points," by Veronique de Rugy

"Republican Reconciliation Package Will Lead to $3 Trillion Annual Deficits," by Christian Britschgi

"Trump Threatens Walmart Not To React to His Tariffs," Joe Lancaster

"Trump's 'Deal' With China Leaves American Consumers and Exporters Facing Higher Tariffs Than Before," by Eric Boehm

"The Supreme Court May Rule for Trump on Nationwide Injunctions but Probably Not on Birthright Citizenship," by Damon Root

"Trump's Case Against Birthright Citizenship Is a Constitutional Loser," by Damon Root

"Defenders of Trump's Birthright Citizenship Order Offer an Implausible Take on a 127-Year-Old Precedent," by Jacob Sullum

"Joe Biden's Cancer Diagnosis Shouldn't End Scrutiny of the Cognitive Decline Cover-Up," by Robby Soave

"Biden's Cancer," by Liz Wolfe

"Andor Is a Star Wars Show About the Brutality of Bureaucracy," by Peter Suderman

"64 Reasons To Celebrate Paul McCartney," by Ian Leslie

Upcoming Reason events:

Reason Speakeasy: Susannah Cahalan on The Acid Queen, June 3

Reason Versus debate: Jacob Sullum and Billy Binion vs. Charles Fain Lehman and Rafael Mangual, June 24

Today's sponsors:

• Join the 2025 Great Connections Seminar in Chicago, July 26–Aug 2.  Designed for students 16–24, this week-long experience builds the core skills of entrepreneurship: critical thinking, persuasive communication, and intellectual independence. This year's theme, "Reason and Free Will," explores great minds like Aristotle, Ayn Rand, and Jefferson—not through lectures, but in dynamic, small-group discussions that train students to lead and innovate. Outside the classroom, they'll tour Chicago's museums, try improv, and connect with ambitious peers. In a world of AI and automation, original thinking is your competitive edge. Tuition is just $800, including room and board.  Scholarships available. Apply today at www.reliancecollege.org/reason
• Therapy can feel like a big investment, but the state of your mind is just as important as your physical health. Let's talk numbers. Traditional in-person therapy can cost anywhere from $100 to $250 per session, which adds up fast, but with BetterHelp online therapy, you can save, on average, up to 50% per session. With BetterHelp, you pay a flat fee for weekly sessions, saving you big on cost and time. Therapy should feel accessible, not like a luxury. With online therapy, you get quality care at a price that makes sense and can help you with anything from anxiety to everyday stress. Your mental health is worth it—and now, it's within reach. With over 30,000 therapists, BetterHelp is the world's largest online therapy platform, having served over 5 million people globally. It's convenient, too. You can join a session with the click of a button, helping you fit therapy into your busy life. Plus, switch therapists at any time. Your well-being is worth it. Visit betterhelp.com/roundtable today to get 10% off your first month.

• Video Editor: Ian Keyser

The post The GOP Budget Is Big, Bloated, B.S. appeared first on Reason.com.