Trump's megabill expected to cost $4.1T, according to new CBO estimate

Government Spending and Debt - The Congressional Budget Office estimates President Trump's bill will add over $4 trillion to the national debt over the next decade [1] - In 2019, the US spent $60 billion on SNAP, which increased to $100 billion during COVID, but has returned to 2019 levels [1] - $450 million in FEMA funds are being reallocated to open alligator Alcatraz, and $600 million in taxpayer FEMA dollars are being used to open more concentration camps [1] Political and Policy Implications - Republican lawmakers dismissed warnings about the bill's impact, arguing it would boost the economy more than predicted [1] - The White House is focused on the midterms and communicating to Republicans how to defend the bill and the president's actions [4][6] - Millions could lose access to Medicaid and food assistance programs due to the cuts [7] - The White House is framing the Medicaid cuts as reducing waste, fraud, and abuse [9] Trade and Investment - President Trump lowered a threatened 25% tariff on South Korea to 15% after they agreed to make $350 billion in investments in the US and purchase $100 billion of liquified natural gas [12] - Japan will establish a $550 billion fund for investments in the United States [13] - The European Union indicated its companies were poised to invest at least $600 billion [14]