Friends, today the big, beautiful bill cleared a major hurdle: it won passage in the U.S. Senate. Now the onus is on House Republicans, who of course don't have many votes to spare... I have mixed feelings. The bill contains many elements that will boost the economy, but it's also very costly, and won't in any way advance the cause of fiscal conservatism. In fact, to twist enough senatorial arms to pass it, it was made even more costly, which is no surprise to anyone vaguely acquainted with how politics works. Elon Musk is as outspoken as ever about the bill's detractions, and Trump has retaliated by once again drawing attention to the federal contracts and subsidies that Musk's businesses rely on, and suggesting that DOGE might want to target them for cancellation. Long story short: the passage of the big, beautiful bill is a big political win for Trump, because he has invested so much capital, as it were, in promoting it. Is it, however, a win for the country? I could go either way on that question.
https://www.bbc.com/news/articles/clyzzzdj15vo
https://truthsocial.com/@realDonaldTrump/posts/114776149269773065
Dr. Waddy from Jack: I think there is plenty of time to make amendments and separate pieces of legislation to alleviate some of the faults in this bill. Also, time may prove or disprove the perceived onerous effects of "cuts" in welfare. And if we increase our majorities in Congress in '26 we could have clear sailing in working further deep cuts in Federal spending.
ReplyDeletePresident Trump maintains his economic measures will generate as strong an economy as to justify the cuts he's making. He's been right about the tariffs so far, customs income is increasing.
Enforcing work requirements for those who can work and yet draw welfare is right headed but I don't think much constructive "work" will result. There will be a lot of "no-show" or "just show up" humbug going on. It will take a lot of government employed bureaucracy to supervise its administration. And its a reality that many who have known only welfare are utterly averse to engaging in a fair exchange of work for compensation. I worked with some of them in state prisons.