The “Big Beautiful Bill”: Built on Borrowed Time and Tax Cuts for the Few
By: DR. X
President Trump’s proposed budget, grandiosely titled “The Big Beautiful Bill,” is poised to exacerbate the nation’s already alarming fiscal situation, pushing our staggering budget deficit to even greater heights. The United States currently shoulders a national debt exceeding $36 trillion and operates with an annual budget deficit of $1.8 trillion – a starting point inherited from the previous Biden administration.
While the inclusion of modest spending cuts (labeled as “DOGE cuts”) alongside a significant tax increase in the form of tariffs might initially suggest a commitment to deficit reduction, this notion quickly dissolves under scrutiny. After all, we currently allocate more resources to servicing the interest on our national debt than to any single item besides Social Security. A truly fiscally responsible approach would prioritize tackling this burden.
However, fiscal responsibility appears to be a footnote in President Trump’s agenda. His vision for “Making America Great Again” seems to rely heavily on the familiar strategy of borrowing more
money. This borrowing will primarily fund further tax cuts, while simultaneously gutting vital social programs and inflating an already massive defense budget. The consensus among most budget analysts is stark: if Trump’s proposed tax cuts pass through Congress, the annual budget deficit is projected to soar to a staggering $3 trillion within just two years.
While fervent MAGAnites may dismiss the implications of escalating debt to finance tax reductions, they stand largely alone in this assessment. The broader financial community has already begun to express serious concerns. On Friday, May 16, 2025, Moody’s Ratings, a globally respected authority, took the significant step of downgrading the U.S. credit rating from its pristine Aaa level to Aa1. This stripping of the U.S.’s top credit rating represents a profound loss of confidence in the nation’s fiscal management.
The immediate aftermath of this downgrade has been palpable. As of this morning, May 19, 2025, the U.S. dollar is experiencing a rapid decline against other major foreign currencies. This weakening of the dollar will inevitably translate to higher costs for imported goods, further compounding the inflationary pressures already introduced by Trump’s tariffs.
The “Big Beautiful Bill” serves as a stark illustration of the fiscal recklessness underpinning President Trump’s agenda. It prioritizes short-term political gains – namely, tax breaks for a select few – at the expense of long-term economic stability for the nation. With the U.S. already burdened by $36 trillion in national debt, Moody’s historic credit rating downgrade is a significant blow to global economic confidence in the USA. The bill’s projected expansion of the deficit risks triggering a dangerous cycle of escalating borrowing costs, a further weakening of the dollar’s valuation, and persistent inflationary pressures. The dollar’s sharp decline since the downgrade is a clear signal of eroding global trust, exacerbating the pain of Trump’s tariffs by making essential imports even more expensive for American families.
Compounding these concerns are the bill’s proposed draconian cuts to crucial social safety nets like Medicaid, SNAP (Supplemental Nutrition Assistance Program), and Affordable Care Act (ACA) subsidies. These cuts will strip millions of vulnerable citizens of essential healthcare and food security – all to finance tax breaks overwhelmingly skewed toward the wealthiest 0.1% of Americans, who stand to gain an average of nearly $400,000 annually.
Far from “Making America Great Again,” this debt-fueled gamble prioritizes corporate windfalls and an expanded military budget over fundamental fiscal sanity, leaving future generations to bear the immense financial burden. As even traditionally conservative deficit hawks are warning, the current administration is “writing checks we cannot cash” – and the resulting economic fallout may soon prove irreversible, jeopardizing the long-term prosperity of the United States.