That was Treasury Secretary Scott Besson on Squawkbox touting great inflation numbers after the president has repeatedly called for Fed chair Jay Powell to not just lower rates but also to be replaced as Fed chair. But our next guest says firing him could actually push inflation higher. Let's bring in Greg Eb.He's the chief economics commentator at the Wall Street Journal. Greg, it's good to see you. And I I assume because you know the the whole idea you run policy looser than you're supposed to, you get hi ...

French PM looks to scrap two public holidays in bold bid to cut national debt https://t.co/NWKp3KtXg8 ...

Fiscal Policy & Economic Impact - The legislation cuts taxes for the top 01% of the population, impacting vulnerable people and healthcare prospects [3][4][5] - The bill is projected to increase the nation's deficit and debt, potentially leading to higher interest rates and reduced investment [6][7] - Borrowing as an alternative to tax raising or spending cutting postpones adjustments and increases the risk of economic vulnerability [9] - The policy raises concerns about the US's position as the world's greatest debtor and its impact on global power [10] Healthcare Implications - The bill could lead to reduced access to healthcare, particularly in rural areas, due to hospital closures and limited rehabilitation facilities [3][5] - Healthcare costs may increase for all citizens as hospitals pass on the costs of treating uninsured individuals [5] Geopolitical & Competitive Concerns - Increased debt and reduced investment could make the US less competitive with countries like China [7][10]

Political Landscape - Elon Musk emerged as a significant Republican donor in 2024, contributing $290 million to support Republican candidates [2] - Musk intends to establish a new political party named the America Party [2] - Establishing a recognized political party requires fulfilling numerous requirements, including creating state-level organizations and adhering to state laws regarding ballot access [3] - The America Party needs to demonstrate its own governing rules, maintain a physical office, and engage in party-building activities such as voter registration drives [4] - The dominance of the Republican and Democratic parties in the US is attributed to their efforts to limit competition through election laws [4] Voter Sentiment - 58% of voters expressed the need for a third party in the US in October 2024 [5] - Musk plans to make the national debt the central issue of his party [5] - The level of voter support for addressing the national debt as a primary issue remains uncertain [5]

Bill's Impact & Political Divide - The bill is perceived to increase the national debt by $20 trillion over the next decade [5][10] - The bill is criticized for disproportionately benefiting billionaires and multinational corporations while potentially harming middle and working-class individuals [11][27] - The President's remarks about hating Democrats for opposing the bill are seen as divisive and not representative of unifying leadership [6][7][9] - The bill is considered one of the worst pieces of legislation in recent memory, negatively impacting vulnerable Americans [28] Healthcare Concerns - The bill is expected to cause hundreds of thousands of people to lose healthcare coverage [17] - Planned Parenthood of Colorado will no longer accept Medicaid coverage, affecting 15,000 patients, predominantly underserved women [18] - Rural hospitals are facing a crisis and are preparing for massive cuts, potentially leading to the closure of services [23][25] - Approximately 50% of children in rural America receive healthcare through Medicaid, highlighting the bill's potential impact on rural families [24] Veterans Affairs - The bill cuts SNAP benefits for veterans, affecting their basic food assistance [30] - Tens of thousands of VA employees may lose their jobs due to the bill [31]

Market Overview & Key Topics - Fidelity's Market Sense discusses the passage of the tax and spending bill and ongoing tariff negotiations [1] - The discussion includes the latest happenings in the markets as the second half of 2025 begins [1] Fiscal Policy & Legislation - The program covers topics such as the "Big Beautiful Bill," tariffs, and tax cuts [1] - Specific legislation mentioned includes TCJA (Tax Cuts and Jobs Act) and SALT (State and Local Tax) [1] Social Programs & Benefits - Social Security and the Child Tax Credit are discussed [1] - HSA (Health Savings Account) and 529 plans are also covered [1] Economic Impact & Concerns - The potential impact of the Tax & Spending Law on the economy is analyzed [1] - The discussion includes the national debt [1]

🇺🇸 NEW: The US national debt has reached $37.08 trillion, with a debt-to-GDP ratio of 123.1%. https://t.co/3FpME3kJGO ...

National Debt & Future Obligations - The national debt is estimated to be double the perceived amount due to future obligations [2] - Future obligations of Social Security significantly exceed tax revenue [2] - Social Security is described as a "Ponzi scheme" where current payments are funded by current contributions [1] Social Security Concerns - Social Security's obligations cover an individual's entire retirement career [1] - People are living longer than expected, and birth rates are declining, increasing the burden on the system [3] - The financial situation for the federal government is expected to worsen in the future [3]

What is the biggest threat to national security. When Admiral Michael Mullen was asked that very question back in 2010, his answer shocked the nation. I responded that the most significant threat was our national debt, which was a bit of a surprise.Admiral Mullen served as the chairman of the Joint Chiefs of Staff under presidents George W. Bush and Barack Obama. Since then, the national debt has nearly quadrupled.Well, experts have warned that when a government spends so much related to its debt load, it c ...

US Debt & National Security - US national debt is seen as a significant threat to national security, potentially squeezing the discretionary defense budget [2][3] - The US is expected to spend $90 billion more on interest payments than on defense in 2024, marking a critical tipping point [4] - Increased defense spending by $2 billion this year and $150 billion over the next decade is projected due to recent tax and spending legislation [4] - The law will boost interest costs by $700 billion [4] - Adversaries like Russia and China may view US debt levels as a vulnerability [5] International Implications - China, a large foreign holder of US treasuries, has been steadily reducing its holdings [6] - Japan holds over $1 trillion worth of US debt, the most of any foreign country [6] - Reworking global trade relationships could impact international demand for treasuries and the US dollar [7][9] - Tariffs announced with Japan speak to the leverage that Japanese investors may have in trade talks [8] Potential Solutions & Challenges - Addressing the deficit requires a combination of spending cuts, tax increases, and a rainy day fund [11] - Solving the problem solely through tax revenue would require a 30% tax increase, while solving it solely through spending cuts would require a 25% spending cut [12] - Political divide is considered a major threat, potentially hindering efforts to address the debt issue [13]