July 3, 2025 • 17 mins
After weeks of legislative wrangling, the House passed President Trump’s signature tax bill, sending it to his desk just before his July 4 deadline. It's the latest in a sweep of major victories on legislative, military and legal fronts, all of which could impact how Trump enacts his agenda going forward.
On today’s Big Take podcast, Bloomberg’s White House and government editor Mario Parker joins Sarah Holder to discuss what the events of the last two weeks could mean for the rest of Trump’s term — and for the future of executive power.
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Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Speaker 1 (00:02):
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:08):
On this vote, the YASER two eighteen the NASER two fourteen.
The motion is adopted. The US's massive tax and spending
package officially passed the House on Thursday afternoon, and now
it's headed to President Trump's desk. The legislation extends Trump's
twenty seventeen tax cuts, making them permanent, but it does
(00:31):
a lot more than that.
Speaker 1 (00:32):
It also slashes Medicaid.
Speaker 2 (00:34):
Cost cuts which are mainly in Medicaid, and snap rollback
tax incentives for the clean energy industry.
Speaker 1 (00:39):
The One Big Beautiful Bill just shows the Vice Gript
that he's maintained on the Republican Party for the better
part of the last decade.
Speaker 2 (00:47):
Mario Parker oversees Bloomberg's US government coverage and he says
the scope of the bill, the ways the administration justified
its cost, and the process it took through Congress all
speak to the way Trump has been testing the limits
of presidential power.
Speaker 1 (01:03):
A hallmark of Trump's second term has been just this
power grabh this expansion of executive branch powers, whether it's
seizing the power of the purge from Congress, sprawling executive orders,
using emergency powers to justify the tariffs that he's placed
around the country's trade flows.
Speaker 2 (01:26):
Amid the fire hose of news these past few weeks,
there were even more examples of Trump expanding that executive
branch control, from his strike of Iran's nuclear sites without
congressional approval to a Supreme Court ruling that could unleash
more of Trump's executive orders. I'm Sarah Holder, and this
(01:47):
is the big tick for Bloomberg News today on the
show President Trump's recent legislative, military and Supreme Court wins
and how they're reshaping the scope of executive power in
the United States. Mario, you and I are speaking at
eleven am on Thursday. Minority Leader Hakim Jeffries has been
(02:10):
speaking for more than six hours already, as Congress prepares
to pass President Trump's quote big beautiful.
Speaker 1 (02:18):
Bill dealing with an all out assault on healthcare, on medicaid,
on the affordable care rack, on the children's health insurance program.
Speaker 2 (02:27):
It's this sprawling piece of legislation. But can you tell us, Mario,
at a high level, what are the most significant top
lines from this legislation?
Speaker 1 (02:35):
The most significant one and one it will be hearing about.
Given where we are in the calendar right now as
we look ahead to the midterm elections will be the dramatic,
consequential slash to the social safety net in the United States.
That's the rollback of social safety net that we have
insane in decades at least.
Speaker 2 (02:56):
The proposed bill includes deep cuts to Medicaid and snap
programs that subsidize healthcare and food for tens of millions
of Americans, including many in the working class base that
voted Trump into office. The Congressional Budget Office estimated that
the cuts could lead to nearly twelve million more Americans
without insurance by twenty thirty four. Mario says Republicans will
(03:19):
be forced to defend those changes on the campaign trail.
Speaker 1 (03:22):
You've had Republican leaderships make deals on things like salt,
for example, trying to write size just how much funding
to cut, how tight to make the restrictions on Medicaid,
how to loosen them, deals like the rural Hospital Relief
Fund that Susan Collins was able to back as well.
(03:44):
That being said, I mean this bill is by turns
a microcosm of politics with Trump, but also a paradox
for Republicans. The feature of Trump's political movement has been
this attraction of former Democrat voting blue collar, lower class
workers who Trump appealed to over the last decade, but
(04:07):
who are increasingly reliant on programs like Medicaid medicare snap
as well. Right, So the image of the traditional Republican
from about twenty years ago as high earning Trump has
turned that on its head in some ways with his
political movement. And so we'll see what political consequence, if
(04:28):
at all, will be paid for this calculation that they
just made.
Speaker 2 (04:32):
Mario, I don't want to get two in the weeds
here about the budget process, but there has been a
lot of talk about reconciliation, which is what Republicans used
to push this bill through. What is the reconciliation process
and what is it traditionally used for.
Speaker 1 (04:47):
Well, the reconciliation process, which isn't germane just to the
Republicans to pass some of their key legislative issues. Joe
Biden did it with his centerpiece legislative agenda and Democrats
as well. So it's ostensibly supposed to be related to
budgetary matters. Now, what we've seen with this bill play
(05:09):
out what we've seen in other administrations as well, is
this requires someone called the parliamentarian to weigh in and
see whether or not some of the measures in the
bill adhere to the strictures of this budgetary process. Right,
so some of it takes creative writing on the part
of the lawmakers, and then sometimes you just see is
(05:31):
what happened in several instances with this bill, some measures
that are just very very political on their face end
up being taken out or stricken by the parliamentarian.
Speaker 2 (05:42):
The CBO calculated that this bill will add over three
trillion dollars to the deficit.
Speaker 1 (05:47):
Republicans argue that the CBO doesn't take into account of
the economic growth that will be spurred by many of
the measures in this bill. Whether you disagree with that
or not, that's been the Republican.
Speaker 2 (06:02):
Argument, Mario says. Another thing that was unusual about this
budget fight was the way Republicans cast out on nonpartisan
individuals and institutions like the Senate parliamentarian who's meant to
advise Congress on rules and procedures, and the Congressional Budget Office.
Speaker 1 (06:19):
We saw Republicans outright attack the Congressional Budget Office for
forecasting that this would add to the deficit. The CBO,
the parliamentarian are typically off limits. Typically both parties have
essentially taken those type of losses, if you will, on
(06:40):
the chin and thought and considered that those individuals, those
bodies are doing their job and being objective. But that's
part and parcel to this political moment that we're living
in right now, where it's been this erosion of faith
in democratic or big democratic norms and institutions that hadn't
(07:01):
been questioned before.
Speaker 2 (07:03):
I'm wondering where Trump was in the final days as
Congress was debating this bill. How influential has he actually
been in getting this almost through the finish line.
Speaker 1 (07:16):
I think highly influential. I think Trump's impact in convincing
a strident budget hawk to eschew some of those concerns,
if you will, and support passages of the bill. Now
that being said, you asked where Trump was. Trump was
at the White House. He was working the phone from
(07:36):
what we understand as well. Again, various folks were visiting
the White House as well. But then we also saw
the familiar cudgel with which he's wielded over the last
ten years or so, which is his social media account.
And we know that when you as a politician, as
a Republican when you're in the crosshairs of a truth
(07:57):
social post or a Twitter post, that it's an uncomfortable
place to be because essentially Trump and his allies then
flood and signal boost whatever message it is that he's
directed your way. But then there's also the threat, which
is the underpinning all of this, the threat of a primary.
(08:17):
Even if they survive the primary, it will be costly,
right and will be damaging. And so you saw a
couple of weeks ago Thomas Massey from Kentucky, who isn't
supporting the bill. You saw Trump and his allies form
a superpack in order to find a primary candidate to
(08:39):
oppose Massy. You saw this past weekend Tom Tillis from
North Carolina, a longtime senator who got crosswise with Trump
over his stance on the bill, and lo and behold.
By the end of the weekend, after Trump had threatened
to find someone else to replace more primary, Tellis said
(09:01):
that he will be retiring from the Senate.
Speaker 2 (09:04):
While Congress was considering this legislation, Trump made a decision
that would normally require Congressional approval without getting it. That
decision and a recent Supreme Court ruling on nationwide injunctions
together raised more questions about the limits of presidential power.
All that's after the break. The so called One Big
(09:35):
Beautiful Bill moved through Congress quickly. While lawmakers were still
in the throes of debating its contents, Trump made another
major move, striking nuclear sites in Iran without seeking congressional approval.
Some members of Congress from both sides of the Aisle
were upset about that, but the defense from the administration
was that they did inform some Republican lawmakers. So I
(09:59):
asked Mario what he made of the unilateral strike and
Trump's defense.
Speaker 1 (10:05):
I mean, it shows that it goes back to our
earlier point in a conversation where Usain Trump pushed some
of the not just constitutional limits, but just norms as well,
or at least do the bare minimums. So there was
no gang of what we will call in Washington, d C.
Gang of eight meeting to inform them the top of
(10:27):
the lawmakers from either side of the party, to inform
them of this strike in the Middle East. The administration
said that, I think Pete Hegseth even mentioned in his
press conference a day after that they followed the strictures
of the law right, So they did essentially the bare
(10:48):
minimum that they had to do. Now that being said,
about a week after that, there was, in this fast
moving news cycle, there was the early preliminary intelligence that
ended up leaking out that counted the public assessment of
the attack that the administration had been putting out, and
(11:09):
you saw that the response from that was for the
administration to look at its communications with Congress as a
potential reason for that league. And this still has to
play out more, but I don't think this will help
improve the lines of preemptive communication.
Speaker 2 (11:27):
I mean, do you see this as a fundamental shift
in our understanding of presidential power when it comes to
military action.
Speaker 1 (11:34):
I'm not sure if it's a fundamental shift, And we've
seen an erosion of Congress's involvement in such measures over
the last call it twenty years or so. To be fair,
this didn't start with the Trump administration. I think what
was striking was the fact that it was Iran, the
(11:54):
fact that it was the Middle East. Anytime you know
nuclear is involved. But look, I mean again, just to
be fair to the Trump administration, they would say that
they pulled these strikes off without having to put American
boots on the ground without American casualties, and then shortly
(12:16):
thereafter there was a seaze fire agreed upon between Israel
and Iran after the Twelve Day War. So from the
administration's point of view, they feel like they were validated
by the calculation. You have some Republicans who are saying
that it's unconstitutional in some ways. Those Republicans are thinking
(12:36):
forward to what happens when the next Democratic president does
something like that as well. Obviously Democrats are going to
oppose such unilateral strikes from their opposition party.
Speaker 2 (12:48):
Well, Mario, we've been talking about the ways President Trump
and the administration are testing executive powers. So we have
to talk about the Supreme Court. The Supreme Court last
week move to strike down the power of the lower
courts to issue nationwide injunctions. We've seen nationwide injunctions go
into effect to block all manner of Trump administration priorities
(13:11):
in both his first term and already in his second.
Can you just remind us in this busy news moment,
as you've alluded to, what was that ruling and how
does it change the way executive orders or legislation from
the president can be challenged? Moving forward.
Speaker 1 (13:25):
Well, one of the frustrations of both Trump terms Trump
one and Trump two. They issue some type of order,
or they take some type of action, that action is
sued or countered in a court, right say, in some state.
That court will then issue an injunction that prevents that
order from being carried out nationwide. And that has been
(13:49):
a point of frustration for the Trump administration as it
does so many things, whether it's birthright, citizenship, deportations, other
measures as well. And so now this ruling essentially says
that those injunctions are limited to the parties involved in
that suit. So if that took place in say California
(14:13):
or some other state, it's limited there, as opposed to
having a blanket cover across the entire United States.
Speaker 2 (14:22):
How could the Supreme Court ruling impact what Trump does next?
Could it push Trump to take more executive actions if
he knows judges are limited in their ability to stop them.
Speaker 1 (14:32):
Well, it's unclear exactly which other issues he may seize upon.
For Trump, they're fighting wars in various fronts across the courts,
whether it's with the higher education system and some of
the things that we see playing out there, whether on
immigration as well again, whether on the implementation of tariffs.
(14:56):
This has essentially emboldened him for whatever he sees.
Speaker 2 (15:00):
Coming next zooming out. How do all of these developments
that we've talked about so far, the tax bill, Iran strike,
and the Supreme Court ruling relate back to this new
testing of the limits of presidential power under Trump.
Speaker 1 (15:18):
There's no doubt about it that we haven't seen in
a long time, at least the stretching of the executive
powers that we're saying take place right now, I mean
just so sprawling. I don't think they're de hyperbole to
say that in Trump's first five months back in office,
there's no part of American life that hasn't been impacted
(15:38):
by the presidency and some of the moves that he's
taken right whether that's the deportations, whether that's leap frogging
the governor of California and sending in the National Guard,
whether that's the deportations to third countries, countries that aren't
persons of migrants origin, or some of the top law
(16:00):
firms in the country, a seating, acquiescing and finding settlements
with the administration, some of the universities, some concessions made
on the part of higher education. This is before we
get to the so called one big, beautiful bill that
has everything that touches everything from medicaid, snap brain, energy
(16:23):
credits as well to so many different things. I mean,
the doage cuts right, the remaking of the federal government
in and of itself, and what impact that has on
the service that Americans get. The priorities outlined as well,
the USAID cuts, what that means for America's brand abroad
(16:44):
and just the traditional place that we've had in giving
assistance to other countries or diplomacy or spreading democracy to
other countries as well. So there's what we've seen with
this administration in just a few months is just this
expansion of powers and just having tentacles in so many
(17:07):
different areas.
Speaker 2 (17:12):
This is the Big Take from Bloomberg News. I'm Sarah Holder.
To get more from The Big Take and unlimited access
to all of Bloomberg dot com, subscribe today at Bloomberg
dot com slash podcast offer. If you liked this episode,
make sure to follow and review The Big Take wherever
you listen to podcasts. It helps people find the show.
Thanks for listening. We'll be back tomorrow.
Bloomberg Audio Studios, podcasts, radio news.
Speaker 2 (00:08):
On this vote, the YASER two eighteen the NASER two fourteen.
The motion is adopted. The US's massive tax and spending
package officially passed the House on Thursday afternoon, and now
it's headed to President Trump's desk. The legislation extends Trump's
twenty seventeen tax cuts, making them permanent, but it does
(00:31):
a lot more than that.
Speaker 1 (00:32):
It also slashes Medicaid.
Speaker 2 (00:34):
Cost cuts which are mainly in Medicaid, and snap rollback
tax incentives for the clean energy industry.
Speaker 1 (00:39):
The One Big Beautiful Bill just shows the Vice Gript
that he's maintained on the Republican Party for the better
part of the last decade.
Speaker 2 (00:47):
Mario Parker oversees Bloomberg's US government coverage and he says
the scope of the bill, the ways the administration justified
its cost, and the process it took through Congress all
speak to the way Trump has been testing the limits
of presidential power.
Speaker 1 (01:03):
A hallmark of Trump's second term has been just this
power grabh this expansion of executive branch powers, whether it's
seizing the power of the purge from Congress, sprawling executive orders,
using emergency powers to justify the tariffs that he's placed
around the country's trade flows.
Speaker 2 (01:26):
Amid the fire hose of news these past few weeks,
there were even more examples of Trump expanding that executive
branch control, from his strike of Iran's nuclear sites without
congressional approval to a Supreme Court ruling that could unleash
more of Trump's executive orders. I'm Sarah Holder, and this
(01:47):
is the big tick for Bloomberg News today on the
show President Trump's recent legislative, military and Supreme Court wins
and how they're reshaping the scope of executive power in
the United States. Mario, you and I are speaking at
eleven am on Thursday. Minority Leader Hakim Jeffries has been
(02:10):
speaking for more than six hours already, as Congress prepares
to pass President Trump's quote big beautiful.
Speaker 1 (02:18):
Bill dealing with an all out assault on healthcare, on medicaid,
on the affordable care rack, on the children's health insurance program.
Speaker 2 (02:27):
It's this sprawling piece of legislation. But can you tell us, Mario,
at a high level, what are the most significant top
lines from this legislation?
Speaker 1 (02:35):
The most significant one and one it will be hearing about.
Given where we are in the calendar right now as
we look ahead to the midterm elections will be the dramatic,
consequential slash to the social safety net in the United States.
That's the rollback of social safety net that we have
insane in decades at least.
Speaker 2 (02:56):
The proposed bill includes deep cuts to Medicaid and snap
programs that subsidize healthcare and food for tens of millions
of Americans, including many in the working class base that
voted Trump into office. The Congressional Budget Office estimated that
the cuts could lead to nearly twelve million more Americans
without insurance by twenty thirty four. Mario says Republicans will
(03:19):
be forced to defend those changes on the campaign trail.
Speaker 1 (03:22):
You've had Republican leaderships make deals on things like salt,
for example, trying to write size just how much funding
to cut, how tight to make the restrictions on Medicaid,
how to loosen them, deals like the rural Hospital Relief
Fund that Susan Collins was able to back as well.
(03:44):
That being said, I mean this bill is by turns
a microcosm of politics with Trump, but also a paradox
for Republicans. The feature of Trump's political movement has been
this attraction of former Democrat voting blue collar, lower class
workers who Trump appealed to over the last decade, but
(04:07):
who are increasingly reliant on programs like Medicaid medicare snap
as well. Right, So the image of the traditional Republican
from about twenty years ago as high earning Trump has
turned that on its head in some ways with his
political movement. And so we'll see what political consequence, if
(04:28):
at all, will be paid for this calculation that they
just made.
Speaker 2 (04:32):
Mario, I don't want to get two in the weeds
here about the budget process, but there has been a
lot of talk about reconciliation, which is what Republicans used
to push this bill through. What is the reconciliation process
and what is it traditionally used for.
Speaker 1 (04:47):
Well, the reconciliation process, which isn't germane just to the
Republicans to pass some of their key legislative issues. Joe
Biden did it with his centerpiece legislative agenda and Democrats
as well. So it's ostensibly supposed to be related to
budgetary matters. Now, what we've seen with this bill play
(05:09):
out what we've seen in other administrations as well, is
this requires someone called the parliamentarian to weigh in and
see whether or not some of the measures in the
bill adhere to the strictures of this budgetary process. Right,
so some of it takes creative writing on the part
of the lawmakers, and then sometimes you just see is
(05:31):
what happened in several instances with this bill, some measures
that are just very very political on their face end
up being taken out or stricken by the parliamentarian.
Speaker 2 (05:42):
The CBO calculated that this bill will add over three
trillion dollars to the deficit.
Speaker 1 (05:47):
Republicans argue that the CBO doesn't take into account of
the economic growth that will be spurred by many of
the measures in this bill. Whether you disagree with that
or not, that's been the Republican.
Speaker 2 (06:02):
Argument, Mario says. Another thing that was unusual about this
budget fight was the way Republicans cast out on nonpartisan
individuals and institutions like the Senate parliamentarian who's meant to
advise Congress on rules and procedures, and the Congressional Budget Office.
Speaker 1 (06:19):
We saw Republicans outright attack the Congressional Budget Office for
forecasting that this would add to the deficit. The CBO,
the parliamentarian are typically off limits. Typically both parties have
essentially taken those type of losses, if you will, on
(06:40):
the chin and thought and considered that those individuals, those
bodies are doing their job and being objective. But that's
part and parcel to this political moment that we're living
in right now, where it's been this erosion of faith
in democratic or big democratic norms and institutions that hadn't
(07:01):
been questioned before.
Speaker 2 (07:03):
I'm wondering where Trump was in the final days as
Congress was debating this bill. How influential has he actually
been in getting this almost through the finish line.
Speaker 1 (07:16):
I think highly influential. I think Trump's impact in convincing
a strident budget hawk to eschew some of those concerns,
if you will, and support passages of the bill. Now
that being said, you asked where Trump was. Trump was
at the White House. He was working the phone from
(07:36):
what we understand as well. Again, various folks were visiting
the White House as well. But then we also saw
the familiar cudgel with which he's wielded over the last
ten years or so, which is his social media account.
And we know that when you as a politician, as
a Republican when you're in the crosshairs of a truth
(07:57):
social post or a Twitter post, that it's an uncomfortable
place to be because essentially Trump and his allies then
flood and signal boost whatever message it is that he's
directed your way. But then there's also the threat, which
is the underpinning all of this, the threat of a primary.
(08:17):
Even if they survive the primary, it will be costly,
right and will be damaging. And so you saw a
couple of weeks ago Thomas Massey from Kentucky, who isn't
supporting the bill. You saw Trump and his allies form
a superpack in order to find a primary candidate to
(08:39):
oppose Massy. You saw this past weekend Tom Tillis from
North Carolina, a longtime senator who got crosswise with Trump
over his stance on the bill, and lo and behold.
By the end of the weekend, after Trump had threatened
to find someone else to replace more primary, Tellis said
(09:01):
that he will be retiring from the Senate.
Speaker 2 (09:04):
While Congress was considering this legislation, Trump made a decision
that would normally require Congressional approval without getting it. That
decision and a recent Supreme Court ruling on nationwide injunctions
together raised more questions about the limits of presidential power.
All that's after the break. The so called One Big
(09:35):
Beautiful Bill moved through Congress quickly. While lawmakers were still
in the throes of debating its contents, Trump made another
major move, striking nuclear sites in Iran without seeking congressional approval.
Some members of Congress from both sides of the Aisle
were upset about that, but the defense from the administration
was that they did inform some Republican lawmakers. So I
(09:59):
asked Mario what he made of the unilateral strike and
Trump's defense.
Speaker 1 (10:05):
I mean, it shows that it goes back to our
earlier point in a conversation where Usain Trump pushed some
of the not just constitutional limits, but just norms as well,
or at least do the bare minimums. So there was
no gang of what we will call in Washington, d C.
Gang of eight meeting to inform them the top of
(10:27):
the lawmakers from either side of the party, to inform
them of this strike in the Middle East. The administration
said that, I think Pete Hegseth even mentioned in his
press conference a day after that they followed the strictures
of the law right, So they did essentially the bare
(10:48):
minimum that they had to do. Now that being said,
about a week after that, there was, in this fast
moving news cycle, there was the early preliminary intelligence that
ended up leaking out that counted the public assessment of
the attack that the administration had been putting out, and
(11:09):
you saw that the response from that was for the
administration to look at its communications with Congress as a
potential reason for that league. And this still has to
play out more, but I don't think this will help
improve the lines of preemptive communication.
Speaker 2 (11:27):
I mean, do you see this as a fundamental shift
in our understanding of presidential power when it comes to
military action.
Speaker 1 (11:34):
I'm not sure if it's a fundamental shift, And we've
seen an erosion of Congress's involvement in such measures over
the last call it twenty years or so. To be fair,
this didn't start with the Trump administration. I think what
was striking was the fact that it was Iran, the
(11:54):
fact that it was the Middle East. Anytime you know
nuclear is involved. But look, I mean again, just to
be fair to the Trump administration, they would say that
they pulled these strikes off without having to put American
boots on the ground without American casualties, and then shortly
(12:16):
thereafter there was a seaze fire agreed upon between Israel
and Iran after the Twelve Day War. So from the
administration's point of view, they feel like they were validated
by the calculation. You have some Republicans who are saying
that it's unconstitutional in some ways. Those Republicans are thinking
(12:36):
forward to what happens when the next Democratic president does
something like that as well. Obviously Democrats are going to
oppose such unilateral strikes from their opposition party.
Speaker 2 (12:48):
Well, Mario, we've been talking about the ways President Trump
and the administration are testing executive powers. So we have
to talk about the Supreme Court. The Supreme Court last
week move to strike down the power of the lower
courts to issue nationwide injunctions. We've seen nationwide injunctions go
into effect to block all manner of Trump administration priorities
(13:11):
in both his first term and already in his second.
Can you just remind us in this busy news moment,
as you've alluded to, what was that ruling and how
does it change the way executive orders or legislation from
the president can be challenged? Moving forward.
Speaker 1 (13:25):
Well, one of the frustrations of both Trump terms Trump
one and Trump two. They issue some type of order,
or they take some type of action, that action is
sued or countered in a court, right say, in some state.
That court will then issue an injunction that prevents that
order from being carried out nationwide. And that has been
(13:49):
a point of frustration for the Trump administration as it
does so many things, whether it's birthright, citizenship, deportations, other
measures as well. And so now this ruling essentially says
that those injunctions are limited to the parties involved in
that suit. So if that took place in say California
(14:13):
or some other state, it's limited there, as opposed to
having a blanket cover across the entire United States.
Speaker 2 (14:22):
How could the Supreme Court ruling impact what Trump does next?
Could it push Trump to take more executive actions if
he knows judges are limited in their ability to stop them.
Speaker 1 (14:32):
Well, it's unclear exactly which other issues he may seize upon.
For Trump, they're fighting wars in various fronts across the courts,
whether it's with the higher education system and some of
the things that we see playing out there, whether on
immigration as well again, whether on the implementation of tariffs.
(14:56):
This has essentially emboldened him for whatever he sees.
Speaker 2 (15:00):
Coming next zooming out. How do all of these developments
that we've talked about so far, the tax bill, Iran strike,
and the Supreme Court ruling relate back to this new
testing of the limits of presidential power under Trump.
Speaker 1 (15:18):
There's no doubt about it that we haven't seen in
a long time, at least the stretching of the executive
powers that we're saying take place right now, I mean
just so sprawling. I don't think they're de hyperbole to
say that in Trump's first five months back in office,
there's no part of American life that hasn't been impacted
(15:38):
by the presidency and some of the moves that he's
taken right whether that's the deportations, whether that's leap frogging
the governor of California and sending in the National Guard,
whether that's the deportations to third countries, countries that aren't
persons of migrants origin, or some of the top law
(16:00):
firms in the country, a seating, acquiescing and finding settlements
with the administration, some of the universities, some concessions made
on the part of higher education. This is before we
get to the so called one big, beautiful bill that
has everything that touches everything from medicaid, snap brain, energy
(16:23):
credits as well to so many different things. I mean,
the doage cuts right, the remaking of the federal government
in and of itself, and what impact that has on
the service that Americans get. The priorities outlined as well,
the USAID cuts, what that means for America's brand abroad
(16:44):
and just the traditional place that we've had in giving
assistance to other countries or diplomacy or spreading democracy to
other countries as well. So there's what we've seen with
this administration in just a few months is just this
expansion of powers and just having tentacles in so many
(17:07):
different areas.
Speaker 2 (17:12):
This is the Big Take from Bloomberg News. I'm Sarah Holder.
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