Trump's Tax Cuts & Tariffs: A Debt & Inequality Crisis

0:00From Anchorage, this is your March 21st update. The Trump administration's 2017 tax cuts, now made permanent in 2025, have driven up federal deficits sharply. The national debt has climbed past $39 trillion, with daily interest payments hitting nearly $3 billion. Tariffs and polls recently are passing most of their costs directly to American consumers. A new study finds that the public's shoulders 96% of those expenses, acting like an added tax amid cuts, favoring big corporations. Many economists and lawmakers see this as fueling inequality, while everyday families feel the pinch through higher prices on imports. The Supreme Court just ruled that major tariffs require congressional approval, putting a check on executive power. Trump is now turning to narrower authorities to push ahead, though those come with strict limits. Congress, including voices from Alaska, could step in with balanced budgets or cuts to current spending to curb the debt spiral and steady the economy.