That "One Big Beautiful Bill"

 

Friends,

The old professor in me thinks the best way to convey to you how utterly awful the so-called “one big beautiful bill” passed by the House last night actually is would be to give you this short 10-question exam. (Answers are in parentheses, but first try to answer without looking at them.)

1. Does the House’s “one big beautiful bill” cut Medicare? (Answer: Yes, by an estimated $500 billion.)

2. Because the bill cuts Medicaid, how many Americans are expected to lose Medicaid coverage? (At least 8.6 million.)

3. Will the tax cut in the bill benefit the rich, the poor, or everyone? (Overwhelmingly, the rich.)

4. How much will the top 0.1 percent of earners stand to gain from it? (Nearly $390,000 per year.)

5. If you figure in the benefit cuts and the tax cuts, will Americans making between about $17,000 and $51,000 gain or lose? (They’ll lose about $700 a year.)

6. How about Americans with incomes less than $17,000? (They’ll lose more than $1,000 per year on average.)

7. How much will the bill add to the federal debt? ($3.8 trillion over 10 years.)

8. Who will pay the interest on this extra debt? (All of us, in both our tax payments and higher interest rates for mortgages, car loans, and all other longer-term borrowing.)

9. Who collects this interest? (People who lend to the U.S. government, 70 percent of whom are American and most of whom are wealthy.)

10. Bonus question: Is the $400 million airplane from Qatar a gift to the United States for every future president to use, or a gift to Trump for his own personal use? (It’s a personal gift, because he’ll get to use it after he leaves the presidency.)

Most Americans are strongly opposed to all of these things, according to polls. But if you knew the answers to these 10 questions, you’re likely to be in a very tiny minority. That’s because of (1) distortions and cover-ups emanating from Trump and magnified by Fox News and other rightwing outlets; (2) a public that’s overwhelmed with the blitzkrieg of everything Trump is doing and can’t focus on this; (3) outright silencing of many in the media who fear retaliation from the Trump regime if they reveal things that Trump doesn’t want revealed.

-Robert Reich