Inevitably we will have to deal with significantly increasing inflation as both the House and Senate are looking to increase the federal deficit to allow for decreased revenue because of the Trump Administration’s continued tax cuts for billionaires as well increased spending on Defense of $175 billion. Given Americans will have to deal with higher prices from inflation and from tariff trade wars likely for the next few years we can expect spending will decrease and the stock market will too. Part of how some Americans have kept spending the last few years is via credit card debt but that was with the expectation the current Administration would lower prices as promised but they’re not actually doing.

For the current spending bill to pass the House and Senate need to resolve their differences on the federal deficit limit, as well. The House GOP bill increases the deficit limit to $4 trillion, but the Senate lifted it to $5 trillion so Congress would not have to revisit the issue again until after the midterm elections in November 2026. 🇺🇸

https://time.com/7276313/speaker-johnson-try-again-gop-holdouts-block-action-trump-budget-bill/