The recent praise for the so-called “Big Beautiful Bill” reads more like a campaign ad. The reality is that this law delivers narrow, short-lived benefits at a staggering long-term cost — to both our wallets and the nation’s fiscal health.
The bill quietly raised the federal debt limit by $5 trillion, kicking the can down the road without enacting meaningful spending reforms. The Congressional Budget Office projects it will add over $4 trillion to deficits over the next decade — pushing the national debt to nearly 130% of gross domestic product. That’s before factoring in more than half a trillion dollars in extra interest costs alone. Over the next 10 years, taxpayers will spend an estimated $13.8 trillion just on interest, with annual payments climbing from $881 billion this year to over $1 trillion by 2026, and an alarming $1.8 trillion by 2035.
Much has been made of provisions like “no tax on tips.” But the fine print tells a different story:
The tip exemption applies only to IRS-designated “customarily tipped” jobs, excludes many food-service staff like kitchen crews, caps benefits at $25,000, and expires in 2028.
Fewer than 3% of taxpayers — about 2-2.6% — will benefit, with average annual savings of just $1,370, or a little over $25 a week. About 37% of tipped workers fall below the tax filing threshold and will see no benefit at all.
Commentary states “record tariff revenues” as proof of strength, but costs don’t hit consumers right away. The Federal Reserve and Peterson Institute studies show tariffs take 6-18 months to fully work through supply chains. Translation: Higher prices are still coming. History shows U.S. importers and ultimately we the taxpayers have and will pay these taxes, I mean tariffs.
Modest, temporary tax breaks are no substitute for real wage growth, stable prices and responsible budgeting.
The “Big Beautiful Bill” isn’t the pro-worker, pro-growth victory it’s being sold as — it’s a fiscal IOU, with the bill being paid by our children and grandchildren.
Michael Cruz
Canyon Country
