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Agency: The Big and Beautiful bill has limited actual boost to the US economy
Odaily News Although the US government calls its fiscal plan a grand and beautiful bill, Lombard Odier finds it difficult to see anything to be optimistic about. The agency believes that this budget has little boosting effect on the macroeconomic level, but may further worsen the fiscal outlook. Strategic analyst Filippo Pallotti pointed out that the bill is expected to expand the federal deficit by about $4 trillion over the next decade; if the tax cuts are made permanent, the deficit may be even higher. Although tariff revenue can ease fiscal pressure to some extent, the ratio of public debt to GDP is still expected to climb to 119% around 2034. Most tax cuts are unlikely to significantly boost consumption, and the largest spending cuts will be concentrated in the areas of medical insurance and food subsidies. In view of this budget (Jinshi)
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