Donald Trump signed his "big beautiful law." This is undoubtedly his political success. #OneBigBeautifulBill
However, let's not exaggerate the importance of this law for the U.S. itself. Why? Because about 2 years ago, President Biden passed his most crucial fateful law.
About which no one remembers today.
Let's remember what the world press was writing about the "Biden Law" not so long ago.
Let's start with the title.
"The Inflation Reduction Act" (IRA) - that was the name of this act. According to it, the States allocated about $370 billion for clean energy, which was supposed to allegedly lead to a reduction in inflation, as the name of the bill suggests.
In fact, this law was supposed to transfer part of European industry to the U.S., providing benefits under the guise of fighting for "green energy." Let me remind you that the Nord Streams had already been blown up, and European enterprises found themselves in a difficult position. $BNB
Here is what was written about the Law then:
"...(It) has significant implications for climate, trade, security, and foreign policy for Europe and the entire world. It has a substantial impact on reducing greenhouse gas emissions in the U.S. and enhances the country's authority in climate negotiations.
He aims to diversify supply chains that currently heavily depend on China, from the production of clean energy to critical minerals and batteries for electric vehicles.
Furthermore, it raises broader questions about European green industrial policy, the Western vision of decarbonization pathways for developing countries, and the future of transatlantic relations.
Look how interesting - in 2023 the U.S. is competing for green energy and batteries against China, and in 2025 it is abandoning green energy, and that’s also against China!
"The Inflation Reduction Act (IRA) directs new federal spending to accelerate the energy transition, reduce healthcare costs..."
Biden reduced healthcare spending, Trump reduces them with his law! Complete continuity of course.
"IRA will collect a total of $739 billion and spend $433 billion, of which nearly $400 billion will be directed toward energy security and climate policy. Primarily through tax benefits."
Tax benefits were one of the main tools of the Biden Law, and now the Democrats are criticizing Trump... for the tax benefits of the "big beautiful law."
"The law will stimulate investments to increase the production of clean electricity, focusing the production of key components for the energy transition that are currently under heavy control by China, as well as accelerating the electrification of transport and the adoption of advanced technologies such as carbon capture and the use of clean hydrogen, among others.
It is important to note that this is the third legislative act passed since 2021 aimed at increasing the competitiveness of the U.S. (in industry)..."
That is, Biden's Law was the third law, and Trump's Law will be the fourth, but they are aimed at the same thing: strengthening the U.S. and weakening China. And this, despite the appearance of a change in U.S. course!
"The CHIPS and Science Act and IRA, which have partially overlapping priorities, introduce new federal spending of $2 trillion over the next 10 years."
The Inflation Reduction Act initiated an acceleration of the U.S. national debt growth, and this directly followed from the amounts described in it. Trump's big beautiful law does exactly the same, for which Musk criticizes him.
In summary: presidents in the U.S. change, rhetoric changes. The essence of actions, goals, and methods of achieving them - does not!
This method - creating money out of thin air and injecting it into your economy.