The Rest Is Money 171. Will Trump’s Tax Cuts Cause Soaring US Debt?
May 14, 2025
In this conversation, Steph Flanders, Head of Economics and Politics at Bloomberg and host of Trumponomics, shares her insights on the potential fallout from Trump's proposed tax cuts, which could add $3.7 trillion to the U.S. deficit. The discussion dives into the complex interplay between U.S. immigration policy and economic implications, particularly post-Brexit. Flanders also explores the promising prospects for European markets, urging investors to look to Europe amid global shifts. A fascinating analysis of today's economic landscape!
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Politics Trumps Economics Today
- Donald Trump's presidency blurred the lines between politics and economics, demanding understanding of their interplay.
- Media and economists face constant unpredictability and must frame forecasts with scenario-based uncertainty.
Scott Bessent's Calming Influence
- Scott Bessent serves as a crucial steadying force amid chaotic Trump administration policies.
- His influence often resulted in positive market reactions compared to more extreme voices like Peter Navarro.
Trump's Tax Cuts Worsen Deficit
- The new US tax bill will add $3.7 trillion to the deficit over 10 years.
- Accounting tricks mask the true cost, failing to reassure markets about fiscal stability.