The U.S. Senate's passage of the 3.3 trillion U.S. dollars "One Big Beautiful Bill" will saddle American families with 38 U.S. dollars in new federal debt every day, compounding to 13,800 U.S. dollars annually.
On Tuesday, the Senate narrowly approved this tax and spending measure, projected to add to the deficit through 2034 as expanded tax cuts and military spending drive the national deficit toward a record 130 percent of GDP by 2030, burdening citizens with generational debt.
The legislation includes more spending on border security, defense and energy production, with cuts to healthcare, nutrition programs and electric vehicle subsidies. The bill extends U.S. President Donald Trump's 2017 Tax Cuts and Jobs Act, which is set to expire at the end of 2025.
The mega-bill would add about 3.3 trillion dollars of deficit in the next decade, higher than the 2.8 trillion dollars of deficit in the version passed by the House of Representatives on May 22, according to the latest estimate by the Congressional Budget Office on Sunday.
The United States has approximately 132 million households. With the federal government adding nearly 5 billion U.S. dollars in new debt each day, this amounts to an increase of nearly 38 U.S. dollars in debt per household per day.
While the average American may not perceive the "Big Beautiful" legislative trajectory, they have certainly felt the effects of rising prices, higher interest rates, mounting medical bills, and student loan burdens. All of these are closely tied to the growing debt.
"Instead of generation of wealth, it will be generational of debt. So now your kids are going to owe something for something that you have done, well, it's not even nothing that you did, they are charging you for it and now and it just went up again. It's a 106,000 now per person. It keeps going up," said a local named Maylan.
Massive US debt bill shifts 38 U.S. dollars daily burden to households
Visiting Chinese Foreign Minister Wang Yi said Saturday China is willing to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and advance the China-Lesotho strategic partnership.
Wang, also a member of the Political Bureau of the Communist Party of China Central Committee, made the remarks when meeting with Lesotho Prime Minister Sam Matekane in the capital of Lesotho.
During the meeting, Wang congratulated Lesotho on the 60th anniversary of its independence this year, and spoke highly of Lesotho government's efforts to prioritize economic development and steer the African country onto a path of sustainable growth. Since the Beijing Summit of the Forum on China-Africa Cooperation (FOCAC) in 2024, the two sides have advanced cooperation under the 10 partnership action plans unveiled at the summit, successfully implementing a number of key projects to effectively promote Lesotho's development and revitalization, Wang said.
China stands ready to work with Lesotho to strengthen exchanges on governance experience, enhance coordination in multilateral affairs, and push for greater development of the China-Lesotho strategic partnership, he added.
Calling on the two sides to firmly support each other, Wang said that China will accelerate the implementation of its zero-tariff policy for African countries, including Lesotho, expand bilateral trade, investment and industrial cooperation, facilitate broader access of Lesotho's specialty products to the Chinese market, and continue to support Lesotho's national development.
China will continue to stand firmly with African countries, uphold justice for the Global South, including Lesotho, oppose unilateralism and acts of bullying, and work together to build a community with a shared future for humanity, Wang said.
On his part, Matekane said during the meeting that Lesotho cherishes its friendship with China and the strategic partnership between the two countries, and expressed gratitude for China's valuable support for the development of African countries, including Lesotho.
Lesotho firmly adheres to the one-China principle and resolutely supports China in safeguarding its core interests, he said, noting that his country stands ready to strengthen strategic mutual trust with China, expand people-to-people exchanges, jointly implement the outcomes of the FOCAC Beijing Summit, and deepen cooperation in areas such as infrastructure, manufacturing and energy.
Matekane stressed that China's zero-tariff policy for African products will inject new impetus into Lesotho's development. He also expressed Lesotho's willingness to strengthen solidarity and cooperation with China on multilateral platforms such as BRICS to jointly address global challenges.
On the same day, Wang also held talks with Lejone Mpotjoana, minister of foreign affairs and international relations of Lesotho.
China, Lesotho to strengthen exchanges, advance cooperation
China, Lesotho to strengthen exchanges, advance cooperation
