“Congress set fire to the fuse under the economy of America.” It is a great beautiful budget act

The US Congress received in the so -called A great beautiful budget act, which was forced by President Donald Trump. The voting of her shows that the Republicans have become a “devoid of spine” by Trump's party – comments The New Yorker magazine on Friday. Congress “set fire to the fuse” under the economy of America, “Washington Post” writes.

The Congress “set fire to the fuse” under the America's economy and pushed the US towards the crisis of debt, “Washington Post assessed in the Friday editorial article. Now you need to observe the bond market and count on the fact that although the FED cannot save the US from the effects of this act, “it could alleviate the explosion” – added the daily.

The budget constructed based on the new law will contribute to increasing the deficit by $ 3.8 trillion over 10 years.

In the opinion prof. Paul Krygmanthe Nobel Prize's Economic Laureate, even investors are not yet able to assess how much the United States is in danger of a crisis of debt, although you can already see that they are losing confidence in the American economy because the dollar exchange rate is falling.

On 887 pages describing the new law, there are also entries such as the abolition of tax on silencers to certain types of weapons or taxation of financial assistance that people working in the US provides in countries in countries of origin, or building the “garden of heroes” America – notes “Washington Post” in a separate article.

The act is so defective that it was criticized not only by democrats, but also many Republican legislators. The fact that it was accepted quickly, just before the deadline established arbitrarily by the president, is “not only the very important victory of Trump, but also a measure of strict power that he has over today's Republican Party” – says “The New Yorker”.

It was enough that at night from Wednesday to Thursday – when it looked like a group of Republicans could prevent the law they criticized – Trump wrote on his website Truth Social that “(movement) the magician is not satisfied” to discipline the rebellious congressmen and lead to the acceptance of “Big Beautiful Bill” – explains the magazine.

Just before the adoption of the Act, the chairman of the Chamber of Representatives Mike Johnson thanked “the boldly, visionary President Donald J. Trump” for the Republican “for bringing the Republicans to victory in the fight for this project – reports” The New Yorker “.

His acceptance was decided by the “lack of spine” of Republicans, who until recently called the project of this right “moral and fiscal bankruptcy” – continues the magazine. “Without the capitulation of the Republican Party” this mindless attack on America's institutions and millions of people whose act will deprive medical or social care would not be possible – emphasizes the editors.

The president himself, when he officially started in the state of the celebrations on the occasion of the National Day falling on Friday, he showed the arrival cap with the inscription “Trump was right in everything” and said that “he seemed a bit too pretentious to him”, but “it turns out that this is true” – describes the French daily “Le Figaro”.

The president also previously assessed that thanks to the acceptance of his budget law by the Congress, the country enters the “new Golden Era”.

The new law was formally called “one great beautiful act” because it combines many Trump's tax promises.

According to the analysis of the Congress Budget Office (CBO), despite the assumed cuts, the project will contribute to increasing the deficit in the budget by $ 3.8 trillion in 10 years. CBO also forecasts that the Senate version of the project will cause almost 12 million Americans to lose health insurance.

According to the Yale Budget Lab center forecast, 20 percent will gain the most on the changes. The most earning Americans (those who earn over $ 120,000 a year), while the act will hit 20 percent the most. The worst earning, reducing their income by almost 3 percent, i.e. on average 700 dollars. (PAP)

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