日批在线视频_内射毛片内射国产夫妻_亚洲三级小视频_在线观看亚洲大片短视频_女性向h片资源在线观看_亚洲最大网

United States' 'Big, Beautiful Bill' poised to affect millions of lives

Concerns expressed over wealth inequality, excessive border security, impact on healthcare, national debt

By BILIN LIN in New York | CHINA DAILY | Updated: 2025-07-04 07:46
Share
Share - WeChat
Protestors shout outside a campaign event for a Republican gubernatorial candidate at the Vienna Volunteer Fire Department on Tuesday in Virginia. GETTY IMAGES/AFP

Deeper in debt

Trump wants to add another $3.3 trillion over a decade to the country's $36.2 trillion debt. Last year, the US government spent more on interest payments than on the entire national defense project. Since 2017, the net interest on the debt has tripled, according to US Government Accountability Office.

High national debt will lead to higher interest rates, slower economic growth, loss of fiscal flexibility, and an increased risk of a fiscal crisis and programmatic insolvency, according to the Committee for a Responsible Federal Budget.

"The US is heading in the wrong direction. This bill would be one more nail in the coffin of a country falling under an enormous debt burden," Kristina Hooper, chief market strategist at Man Group, the world's largest listed hedge fund, told CNN.

Thomas Fullerton, a professor of economics and finance at the University of Texas at El Paso, said even though the US economy is growing, the White House, similar to what it did in the previous Trump administration, is going to engage in large scale, pro-cyclical deficit spending.

"There is no reason to pile up more debt during expansionary phases of the business cycle, but that is what is going to occur, again. Interest rates will be higher than necessary and impair investment and capital accumulation," he told China Daily.

Meanwhile, in a controversial move, Trump is targeting elite US universities by proposing a steep increase in the tax on university endowments from 1.4 percent to 20 percent.

Trump has previously stripped away billions of university research funding and taken action in response to claims of rising antisemitism on college campuses. Critics argue these actions are politically motivated attacks on higher education.

"Stripping (away) research and innovation funding to force compliance will hurt America's competitiveness and help our adversaries outpace us in technological and other advancements. America's university research and innovation centers have long been the envy of the world," said Randi Weingarten, president of the American Federation of Teachers.

Yifan Xu and Belinda Robinson contributed to this story.

|<< Previous 1 2 3 4 5   
Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 久久99这里只有精品 | 日韩精品在线免费观看 | 国产精品成人网 | 亚洲一二三四在线 | 成人国产精品久久 | 红桃视频国产精品 | 人人搞人人插 | 五月婷婷丁香花 | 亚洲精品网站在线观看 | 亚洲成人一区二区三区 | 五月天亚洲色图 | 伊人网在线播放 | 国产精品欧美亚洲 | 奇米影视亚洲春色 | 97porn| 国产人妖一区 | 簧片av | 久久一二| 国产精品久久久久久妇女6080 | 黄在线免费 | 99小视频| 亚洲色图偷 | 日韩在线视频免费观看 | 色视频免费在线观看 | 97在线超碰 | 亚洲天堂中文在线 | 日本h视频在线观看 | 日韩黄色在线 | 成年人免费黄色 | 玖玖精品| 快色在线 | 日韩午夜高清 | 亚洲女同一区二区 | av高清一区二区 | 欧美黄色精品 | 久久福利精品 | 91制服丝袜| 日本激情小视频 | 国产中文字幕一区 | 日日夜夜精品免费视频 | 九九精品视频在线观看 |