A “Big, Beautiful” Disaster for America
Lawrence H. Summers, former U.S. Treasury Secretary, delivered a searing critique of the recently passed “Big, Beautiful Bill” in his New York Times op-ed, calling it “a shameful act” that made him “embarrassed for [his] country.” Summers warns that the legislation, passed around July 4, marks the most significant assault on the U.S. social safety net in history.The bill slashes Medicaid by imposing harsh new work requirements, potentially stripping health coverage from 12 million Americans. Summers cites a Yale Budget Lab estimate projecting 100,000 excess deaths over the next decade as a result. At the same time, the law reinstates Trump-era tax cuts, boosts military and border spending, and adds an estimated $3.4 trillion to the national debt—on top of an already staggering $36.2 trillion baseline.
Summers, along with former Treasury Secretary Robert Rubin, also warns the bill will drive up interest rates, crowd out private investment, and threaten U.S. economic stability and global credibility. As the bill prioritizes weapons over welfare, it sacrifices both lives and long-term fiscal health.
This isn’t leadership—it’s lethal negligence disguised as patriotism. Americans should be outraged.
No comments:
Post a Comment