Slate Money One Big BS Bill
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Jul 12, 2025 This week, the hosts dissect Trump's controversial megabill, poking fun at its catchy name while unraveling alarming economic implications. They dive into the chaos of his trade tariffs, questioning the logic behind them. The idea of a 'Trump Account' for newborns gets a humorous spin, prompting a debate on baby bonds and financial equity. Lastly, they tackle the unsettling remittance tax on immigrants, shedding light on its repercussions for families. It's a blend of biting analysis and witty observations!
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Fiscal Impact of Big Bill
- The "One Big Beautiful Bill" drastically increases budget deficits and fiscal imbalance.
- Its fiscal stimulus effect is mainly due to increasing deficits rather than efficient spending.
ICE Funding Surpasses All Agencies
- ICE receives more funding than all other federal law enforcement agencies combined.
- This makes ICE the largest federal law enforcement agency, increased by this bill.
Cuts to Safety Net Cause Economic Pain
- The bill cuts Medicaid and food stamp benefits via work requirements, projected to reduce spending by over a trillion dollars.
- These cuts may harm the economy by reducing health coverage and slowing growth in the healthcare sector.