on July 7, 2025, 8:26 am
Trickle down - inflation and stagflation for the masses.
Trickle up - more wealth for the top one tenth of one percent of our population.
Let that sink in.
MORE wealth for the top ONE TENTH OF ONE PERCENT... LESS for everyone else.
I agree with Summers (who was on This Week with George Stephanopoulos)... I've never been so ashamed, embarrassed and afraid for my country.
"Former U.S. Treasury Secretary Larry Summers on Sunday cut to the heart of Donald Trump’s so-called “Big, Beautiful Bill” with two withering questions.
Summers first told ABC News’ “This Week” anchor George Stephanopoulos that he’s “never been as embarrassed for my country on July 4th.” Trump signed his signature spending and taxation legislation on Independence Day.
The Clinton-era Cabinet member then flagged just some of the ways he believes Americans will lose out from Trump’s signature spending and taxation legislation:
“These higher interest rates, these cutbacks in subsidies to electricity, these reductions in the availability of housing, the fact that hospitals are going to have to take care of these people and pass on the costs to everybody else and that’s going to mean more inflation, more risk that the Fed has to raise interest rates and run the risk of recession, more stagflation, that’s the risk facing every middle-class family in our country because of this bill.”
Summer asked, “And, for what?”
“A million dollars over 10 years to the top tenth of a percent of our population,” he replied to his own question.
He followed up with a second damning question: “Is that the highest priority use of federal money right now?”
“I don’t think so,” he said. “This is a shameful act by our Congress and by our president that is going to set our country back.”
Message Thread
« Back to index | View thread »
RETURN TO MESSAGE INDEX PAGE
Board Moderators are Sia, Pikes Peak 14115, Amadeus, Poppet and
Trish