From the Financial Times editorial board:
“Lawmakers ought to think twice. Trump gets the bill’s branding only partly right. It is, indeed, enormous. It could raise US debt by more than $3.3 trillion over the next decade. Yet, in its current form, the economic consequences risk being far uglier than the president portrays…”
“The bill’s passage isn’t guaranteed. The Republicans only have a narrow majority in both the House and Senate, and Trump’s agenda has created a schism between its fiscal hawks and those concerned about the impact of cutbacks on poorer voters. It may evolve. But ultimately, the bond market will have the final say.
Without serious attempts to rein in U.S. spending, investors’ reaction won’t be pretty.”