Slate News Slate Money - One Big BS Bill
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Jul 12, 2025 This week, the hosts dive into the convoluted realities of Trump's massive spending bill, revealing its controversial implications. They analyze the unpredictable tariff proposals, questioning their logic and impact on international relations. A surprising new initiative for newborns, dubbed the 'Trump Account,' is also explored for its potential benefits. Discussions extend to the complexities of U.S. debt, the new remittance tax affecting immigrants, and the intricate world of trade imbalances, underscoring the tangled web of modern economic policy.
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One Big Beautiful Bill Flaws
- The "One Big Beautiful Bill" significantly inflates the U.S. budget deficit and enforces harsh Medicaid work requirements.
- These Medicaid cuts may reduce coverage and harm economic growth, worsening health and employability.
Tariff Chaos and Economic Risks
- Trump's tariff spree lacks legal basis and strategic sense, targeting countries without U.S. trade deficits.
- Tariffs on critical materials like copper will raise costs for U.S. companies, harming competitiveness.
Trump Accounts Start New Investing Habit
- Trump accounts provide $1,000 invested fully in stocks for newborns, aiming to familiarize future generations with investing.
- The accounts are not tax-advantaged savings but a government gift to foster long-term investment habits.