House Speaker Mike Johnson (R-LA) (c) will sign one big beautiful bill law with Republicans and fellow Republicans in the Rayburn Room at the Capitol in Washington, DC on July 3, 2025.
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When President Donald thinks about the major taxation and expenditures and the economic impact of the domestic policy bill, it can be summed up in a row. It would look something like this:
By cutting Medicaid and several other things, and by borrowing money, you make many major tax cuts permanent and pay those tax cuts.
Lots of money.
It’s more than I’ve already borrowed over the past 20 years. (And there were already a lot of them too!)
Today: Simple arithmetic with profound influences. Whether to cut taxes, cut spending, and balance. (Spoiler: No.)
Look under the hood and see how this is all calculated. And we ask: all of us, in our normal normal life, how do larger deficits occur?
We have been involved in Planet Money and our short daily show recently, with what we have to do with big tax and expenditure invoices and federal obligations. Indicator:
The episode was hosted by Sally Helm, Kenny Malone and Mary Childs. It was produced by Sam Yellowhorse Kessler with the help of Cooper Katz McKim. Edited by Jess Jiang and executive producer Alex Goldmark. Designed by Cena Loffredo and fact-checked by Sierra Juarez.
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Music: Universal Production Music – “Shoot Me Down”, “Matador Enter”, “Level Time”, “Wild Woods”
