US Treasury Balance - US government had a $27 billion surplus for the month on an unadjusted basis, compared to an expected $205 billion deficit [2] - US ran a $70 billion deficit in June on an adjusted basis [3] - US is running a $13 trillion deficit fiscal year to date, matching last year's pace [3] Tariff Revenue - US took in $27 billion in customs duties in June [3] - Treasury has taken in $87 billion in customs duties so far this calendar year [4] - Tariff revenue is about $20 billion extra compared to baseline [7] Corporate Taxes - Corporate taxes were down 17% for the month of June [5] - Corporate taxes were about $14 billion less compared to baseline [7] Market Watcher Concerns - Market watchers are worried about what the decrease in corporate taxes could signal for earnings season [6]

Healthcare Bill Impact - The bill is unpopular with Americans, with polls showing Republicans "underwater" on the issue [8] - The bill includes Medicaid cuts that are expected to cause hospital closures and have real-world effects [5] - Republicans are budgeting for people to be kicked off Medicaid to pay for tax cuts [2][13][14] - Work requirements for Medicaid eligibility are included, but their effectiveness and factual basis are questioned [2][6][7] Economic and Fiscal Implications - The bill is expected to increase debt and deficit [3][5] - Republicans argue that continuing tax cuts are critical for economic growth [9] - Democrats are labeling the bill as a cut to healthcare with tax cuts for the rich, increasing the debt [12] - The bill lacks fundamental reform in the healthcare system, focusing on cuts rather than improving health outcomes [17][21] Political Landscape - Democrats are likely to win the House in the midterm elections, partly due to the unpopularity of the bill [11][12] - Republicans face the challenge of countering the Democrats' narrative that the bill takes away healthcare [10] - The bill started as a tax policy exercise but became a healthcare conversation, for which Republicans were unprepared [24]

What are your thoughts, Freeberg, on the kurfluffle, the Donny Brookke, the bruhaha between Elon and President Trump? There's a lot of people that are making accurate declarations that federal spending needs to be reduced, the deficit needs to be shrunk, we are in a debt death spiral, and they are absolutely correct. So, I don't think that Elon is off the reservation when he makes those comments and he's talked about this continuously and he dedicated months of his life to operating Doge and trying to bring ...

U.S. Fiscal Situation & Debt Concerns - The U.S federal budget is on an unsustainable path, potentially leading to rapid financial instability if spending issues are not addressed [1] - America's borrowing levels are currently the same size as the entire economy and are expected to skyrocket [2] - There is a greater than 50% chance of experiencing a financial trauma related to the deficit or debt levels within three years if the issues are not addressed [11] - The U.S is expected to spend nearly $1 trillion on interest payments this year due to soaring debt and higher rates [24] - The Congressional Budget Office (CBO) expects net interest costs in 2025 to surpass spending on Medicare, Medicaid, and national defense [24] - The cost to service the U.S debt is expected to be 18% of total tax revenue this year, compared to less than 10% in 2022 [25] Potential Consequences & Risks - Unsustainable fiscal policy could lead to a collapse in fixed income and bond markets within 20 years [8][9] - The U.S may resort to printing money to cover its debt, potentially leading to inflation [10] - Rising borrowing costs could negatively affect the health and growth of the U.S economy [23][24] - Unchecked debt levels risk leaving a weaker economy to future generations [30] International Implications - International holdings of U.S treasuries were near a record $9 trillion in April [40] - China, while one of the largest foreign holders of U.S treasuries, has been steadily reducing its holdings [39][40] - Japan holds more than $1 trillion worth of U.S debt, the most of any foreign country [42]

RT Mario Nawfal (@MarioNawfal)ELON: OUR NATIONAL DEBT IS A DISASTER“What really matters is that government spending is not far in excess of government revenue.That's a fundamental issue that we have where we have a deficit of $2 trillion and we have interest payments that now exceed the entire budget of the military.In fact, that was a big wake-up call for me was when the amount of money that we pay in national debt interest exceeded the Defense Department budget.And the Defense Department budget is very bi ...

in Congress. A retired brigadier general in the Air Force, Bacon was first elected to the House in 2016, the same cycle as Donald Trump's first presidential election. In the decades since, Bacon's become known as one of the few Republicans who's been unafraid to speak his mind based on his principles, his beliefs, and what he thinks is best for his constituents, even if that doesn't sit well with his party.Announcing his retirement, Bacon told the New York Times, quote, "I'd like to fight for the soul of ou ...

NOW IT'S TIME FOR THE LAST WORD WITH ALI VELSHI HOSTING. GOOD EVENING, ALI. WHAT AN EXCELLENT SHOW.THANK YOU, MY FRIEND. I APPRECIATE THAT. I HOPE YOU GET A LITTLE BIT OF A BREAK THIS WEEKEND.YOU TOO, HARDEST WORKING MAN IN THE BUSINESS. I HOPE YOU DO TOO AT SOME POINT, AT SOME POINT. THANKS, HAVE A GREAT WEEKEND.WE'LL SEE YOU NEXT WEEK. SOUNDS GOOD. THANKS.WELL, REPUBLICANS KNEW IT WAS BAD. THEY SAID SO ON THE RECORD INTO MICROPHONES AT CLOSED DOOR MEETINGS. REPUBLICANS KNEW THAT THE BILL WOULD HURT MILLIO ...

Good evening from New York. I'm Chris Hayes. Well, Donald Trump got his bill.It's unclear whether he understands what's in it, but he got his bill. Republicans got on board. And now all that is left for those opposed to this monstrosity is to make the Republicans who voted for it pay a political price.Just hours ago, House Republicans voted by a very thin margin to approve Donald Trump's deficit busting, Medicaid slashing omnibus MAGA bill. Trump's expected to sign it into law tomorrow, the 4th of July, in ...

So far, though, it looks like we're going to boost deficits up to 7%. And you ran on this three, three, three plan. 3% deficit, 3% economic growth and 3 million barrels of oil, an increase of 3 million barrels of oil a day in the U.S..Do you expect to get to that by the end of President Trump's term. I do, and I'm not sure where the 7% number is coming from. Right.Because I reject the CBO scoring. But on the other side, the CBO also scored terrible income at 2.8% trillion. So, you know that that's substanti ...

🇺🇸 JUST IN: Treasury Secretary Bessent says the Big Beautiful Bill “will pass” with a vote expected at 1:30 PM, dismissing CBO’s $1T deficit forecast as inaccurate. https://t.co/I7ylBTSYMj ...