“What keeps you up at night?” my husband asked our financial advisor, sitting across from us in the Rusty Pelican Cafe.
“The national debt,” he immediately responded. We discussed the impact of the “One Big Beautiful Bill.” According to the non-partisan CBO and JCT, this bill will cost $3.4 trillion over the next decade plus $4 trillion for interest owed on the national debt. This should scare any financial conservative.
The law will reduce federal tax revenue by approximately $4.5 trillion, due to tax cuts mostly benefiting the wealthy. It will increase federal spending by $325 billion for the military and ICE enforcement. It will unfairly decrease spending by cuts to Medicaid, SNAP, and federal student loans. As the most expensive law passed since 2012, the numbers are mind-boggling. Perhaps a better moniker would be “One Bad Bloated Bill.”
Watch and see how the impact of this law, tariffs, inflation and rising prices plays out. All of us will pay more. Our children and grandchildren will be saddled with more debt.
“We have the best government money can buy,” our advisor friend said with a wink on his way out the cafe door. Ah, but that’s a letter for another day.
Nancy Teggeman
Polson