US $5.5 Trillion Tax Cut Threatens Social Security by 2035 as Europe Tightens Budgets
The One Big Beautiful Bill Act combines $5.5 trillion in tax cuts with healthcare spending reductions, pushing Social Security and Medicare toward insolvency by 2035. The fiscal expansion contrasts sharply with Europe's tightening approach, where the UK is raising £3-4 billion annually through benefit reforms. Federal Reserve Chair Jerome Powell's May 2026 departure compounds concerns about central bank independence under political pressure.
ViaNews Editorial Team (Europe)•