On July 1, the U.S. Senate passed Donald Trump's controversial "big, beautiful bill" on tax and spending. Douglas Holtz-Eakin, president of the American Action Forum (AAF), warns that the bill is a "whole bunch of political favors and handouts" with little in the way of investment. An economist, Holtz-Eakin adds that fiscal stewardship in the 20th century meant that living standards doubled for Americans every 30 years, whereas current trajectories indicate a 56-year doubling cycle. He concluded that Americans are witnessing the American Dream "slipping away."