We Are Borrowing Our Way to a Fiscal Reckoning
The One Big Beautiful Bill Act was signed into law by President Donald Trump on July 4, 2025. The White House initially claimed it would reduce deficits and debt while promoting economic growth. However, concerns have arisen about the actual fiscal impact of the legislation one year later.
- ▪The One Big Beautiful Bill Act was introduced in the House one year ago.
- ▪President Trump signed the bill after Vice President J.D. Vance cast the tie-breaking vote in the Senate.
- ▪The White House promised that the bill would reduce deficits and slash debt.
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Micah Ables / May 20, 2026 We Are Borrowing Our Way to a Fiscal Reckoning The White House promised the One Big Beautiful Bill would reduce deficits and ‘slash’ debt. What happened? Economics President Donald Trump bangs a gavel after signing the One Big Beautiful Bill Act at the White House on July 4, 2025. (Photo by BRENDAN SMIALOWSKI/AFP/Getty Images) President Donald Trump bangs a gavel after signing the One Big Beautiful Bill Act at the White House on July 4, 2025. (Photo by BRENDAN SMIALOWSKI/AFP/Getty Images) Audio Turn any article into a podcast. Upgrade now to start listening. Text Size Members can share articles with friends & family to bypass the paywall.
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