Speaker of the Home Mike Johnson (R-LA) (C) indicators the One Huge Lovely Invoice Act throughout an enrollment ceremony with fellow Republicans within the Rayburn Room on the U.S. Capitol on July 03, 2025 in Washington, DC.
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Speaker of the Home Mike Johnson (R-LA) (C) indicators the One Huge Lovely Invoice Act throughout an enrollment ceremony with fellow Republicans within the Rayburn Room on the U.S. Capitol on July 03, 2025 in Washington, DC.
If we take into consideration the financial results of President Donald Trumps massive taxing and spending and home coverage invoice, we will roughly sum it up in a single line. It goes one thing like this:
We are going to make many massive tax cuts everlasting and pay for these tax cuts by reducing Medicaid and some different issues and likewise…by borrowing cash.
Some huge cash.
Much more than we have already been borrowing over the previous twenty years. (And that was already so much, too!)
In the present day: easy arithmetic with profound ramifications. Tax cuts, spending cuts, and whether or not they steadiness out. (Spoiler: no.)
We glance below the hood to see how all that is calculated. And we ask: how will a much bigger deficit play out for all of us, in our regular, common lives?
We have coated a bunch extra having to do with the large taxing and spending invoice and the federal debt lately on Planet Cash and our quick each day present The Indicator:
This episode was hosted by Sally Helm, Kenny Malone and Mary Childs. It was produced by Sam Yellowhorse Kesler with assist from Cooper Katz McKim. It was edited by Jess Jiang and our government producer Alex Goldmark. It was engineered by Cena Loffredo and fact-checked by Sierra Juarez.
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Music: Common Manufacturing Music – “Shoot Me Down,” “Matador Enters,” “Time to Spare,” and “Wildwoods”
