Read, Watch or Listen

Trump's new bill, projected to increase the US deficit by $3.4 trillion over a decade, is causing alarm among economists. They warn that the already high national debt, coupled with the bill's increased spending and tax cuts, puts the US on a dangerous path. Increased deficits could lead to higher interest rates, impacting mortgages, loans, and business investments. The risk is a "doom loop": higher debt leads to higher interest rates, further increasing debt and potentially forcing drastic cuts to government programs.

Prepared by Christopher Adams and reviewed by editorial team.