Impromptu There’s nothing beautiful about this big bill
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May 20, 2025 Natasha Sarin, a professor at Yale Law School and columnist, delves into the contentious tax and spending bill that could harm lower-income communities. The conversation highlights Moody's downgrade of the U.S. economic rating, raising alarms about increased national debt. Sarin and her fellow commentators explore the political tug-of-war among Republicans concerning vital services like Medicaid, the implications of proposed tax cuts favoring the wealthy, and the pressing need for bipartisan cooperation amidst growing economic challenges.
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Bill Favors Rich Over Poor
- The GOP bill gives trillions to the wealthiest while cutting Medicaid and food stamps for the poorest.
- It worsens fiscal irresponsibility by significantly increasing the deficit and national debt.
Bill Worsens Fiscal Sustainability
- The U.S. credit rating downgrade reflects unsustainable fiscal policies.
- The bill is expected to add $3.8 to $5 trillion in deficits over the decade, worsening the debt issue.
Bond Markets Show Growing Nerves
- Bond markets express growing nervousness over U.S. fiscal policies and tariff chaos.
- Treasuries no longer feel as safe, indicated by bond market 'freak outs' despite falling stock markets.