Editorial: El País

• 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.

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