Former Treasury Secretary Larry Summers blasted President Donald Trump’s “Big Beautiful Bill” on Sunday, calling it the most disgraceful piece of legislation in modern history. Appearing on ABC’s “This Week,” Summers said the bill’s deep cuts to social programs would endanger hundreds of thousands of Americans and undermine the nation’s economic stability.
Summers labeled the legislation as the “biggest cut in the American safety net in history,” citing projections that it could lead to the deaths of 100,000 people over the next decade. He compared the impact to experiencing “2,000 days of death like we’ve seen in Texas this weekend.”
He warned that the legislation’s reduction in energy subsidies and affordable housing programs would burden hospitals, drive up inflation, and pressure the Federal Reserve to raise interest rates—harming middle-class families through what he termed “stagflation.” Summers argued that these effects would increase economic instability, particularly for working Americans.
The former Clinton and Obama adviser also criticized the bill’s long-term tax benefits for the wealthiest Americans, claiming it would transfer over $1 million in benefits per person over ten years to the top tenth of one percent. He questioned the moral and fiscal priorities of Congress and the White House, saying, “Is that the highest priority use of federal money right now? I don’t think so.”
Summers, who served as Treasury Secretary under President Bill Clinton and Director of the National Economic Council under President Barack Obama, has become an outspoken critic of the current administration’s fiscal direction. His comments reflect mounting criticism from Democratic economists who argue the bill prioritizes tax breaks for the wealthy at the expense of essential services.
