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For the Middle Class, One Great, Big, Beautiful Betrayal

UNITED STATES, JUL 8 – The bill raises the debt ceiling by $5 trillion, cuts renewable energy tax credits, and is projected to add $3.3 trillion to the national debt over ten years, critics say.

  • President Donald Trump signed a large budget bill on Independence Day 2025, which passed narrowly in Congress amid controversy.
  • The bill follows rising fiscal pressures, including a $2 trillion shortfall and interest payments exceeding defense spending for the first time in 2024.
  • The bill cuts $1 trillion from Medicaid, restricts federal student aid by capping borrowing, and bans the methane emissions fee, weakening renewable energy and healthcare support.
  • Critics say the bill will push 11.8 million more uninsured by 2034, hurt college access, with Yale estimating a $280 million new tax in its first year.
  • The bill signals worsening U.S. fiscal instability, risks long-term economic stagnation, and may impair clean energy competitiveness amid an aging population shifting investment priorities.
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  • 41% of the sources are Center, 41% of the sources lean Right
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Sydney Morning Herald broke the news in Sydney, Australia on Friday, July 4, 2025.
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