What mattered this week
Big Beautiful Bill Blows Up
This week saw committee hearings with Cabinet officials, a Saudi splash out and UN critiques of US deportations but here’s what mattered.
Ugly moment for the Big Beautiful Bill: Trump’s so-called “Big Beautiful Budget Bill” hit an ugly snag this week, flopping in the House Budget Committee after five Republicans voted it down. The bill aimed to extend Trump’s 2017 tax cuts, slap work requirements on Medicaid, and throw more money at border security and fossil fuels. But fiscal hawks weren’t buying it, citing sky-high costs and a potential $5 trillion debt explosion. Democrats have also rightly criticized the bill as it cuts things like SNAP, public school funding, and community health programs. A NYT analysis found that the bill would hurt the lowest earners and help some of the wealthiest Americans at a time when the Trump Administration is imposing costly tariffs that mostly impact middle- and low-income Americans. Now Speaker Mike Johnson is scrambling to stitch the bill back together before Memorial Day—because nothing says summer fun like budget gridlock and intra-party squabbling. You can make your voice heard on this bill by getting in touch with House members over the next few weeks.
Tom Williams/CQ-Roll Call, Inc via Getty Images Feeling Moody(’s): On May 16, 2025, Moody’s Investors Service officially rained on Washington’s fiscal parade by downgrading the U.S. sovereign credit rating from its long-held Aaa status to Aa1. This marks the first time since 1917 that the United States has lost its perfect rating from all three major credit agencies—a not-so-proud moment in budget history. The downgrade reflects growing concern over America's towering $36 trillion debt, which, like a poorly managed diet, just keeps growing. Moody’s flagged not only the sheer size of the debt but also the lack of a credible plan to rein it in. Adding fuel to the fire, Trump’s push to make the 2017 tax cuts permanent would pile on another estimated $4 trillion over the next decade. The agency cited political dysfunction, endless brinkmanship over the debt ceiling, and a growing mismatch between revenues and spending as key reasons. The practical upshot? Potentially higher borrowing costs for the government, more market volatility, and an embarrassing badge of fiscal irresponsibility that could ripple through global investor confidence.
Rule of law remains, for now: In a win for the rule of law, the Supreme Court blocked the Trump administration from using the Alien Enemies Act of 1798 to deport Venezuelan migrants, rejecting claims that the presence of gang members from Tren de Aragua amounted to an “invasion.” In a 7–2 decision, the Court ruled that the centuries-old law—meant for wartime enemies, can’t be used to bypass due process without a formal declaration of war. Justices Alito and Thomas dissented, arguing the president should have broad authority to act on national security threats. The ruling was seen as a rebuke of executive overreach and a rare check on harsh immigration enforcement.
What else?
Swimming in sh*t: In a shocking move, RFK Jr. said something reasonable at a hearing before the Health, Education, Labor and Pensions Committee this week. Under intense questioning from Democrats, Secretary Kennedy said ‘I don’t think people should be taking advice, medical advice, from me.’ These wise words come just a week after Kennedy was photographed swimming in the E. Coli infested waters of Rock Creek Park just outside DC. Nothing says pinnacle of health like swimming in sh*t water.
Flying high: Trump’s recent trip to the Middle East was meant to project strength and diplomacy, but it was quickly clouded by controversy over his apparent openness to accepting a small token gesture of a $400 million private jet from Qatar. The jet is set to be the new ‘Air Force One’ because nothing embodies American excellence like buying foreign and slapping an American flag on it.