The U.S. House of Representatives has passed a significant tax cut and spending bill advocated by Trump.
The law includes funds for immigrant deportation and the Pentagon.
The measures will increase the deficit and debt at a time of alarm over the U.S.'s fiscal course.
The law extends and expands tax cuts that particularly benefited the higher incomes and businesses.
It includes social spending cuts that will leave millions of citizens without health coverage and food aid.
Rating agencies have downgraded U.S. debt from its maximum solvency rating.
The agency fears that the federal deficit may sky-rocket and public debt may rise dramatically.
U.S. growth has been slowed down due to the president's erratic tariff policy.
Conclusion: This fiscal policy is a ticking time bomb which, due to the size of the U.S. economy and its interconnections, may foster a global financial crisis.