Larry Summers criticized the Big Beautiful Bill, labeling it as the largest cut to the U.S. safety net ever and potentially leading to 100,000 deaths over ten years, as estimated by the Yale Budget Lab. He expressed deep disappointment for the country on the Fourth of July in light of the bill's passage, attacking its economic rationale. Summers refuted claims from the Economic Council that projected $11 trillion in deficit reduction, calling it unsupported by credible economic analysis. He emphasized a consensus that the bill could harm the economy significantly.
Larry Summers stated that the current bill represents the biggest cut in the American safety net in history, which the Yale Budget Lab estimates will lead to 100,000 deaths over the next decade.
Summers expressed severe embarrassment for the country on July 4th due to the bill's implications, calling it shameful and an embarrassment for leadership.
He dismissed the claim that the bill could result in $11 trillion in deficit reduction, asserting that no credible economist supports the idea that it would positively impact the economy.
Collection
[
|
...
]