What is Wrong With Trump's Big, Beautiful Bill

After Tesla (TSLA) CEO Elon Musk exited his position at DOGE, he criticized the heavy spending proposed in Trump’s spending bill. The big, beautiful, bill is expensive. The Congressional Budget Office estimated that the tax-and-spend package would add $2.42 trillion to the U.S. fiscal budget deficit over the next decade. The government would face a revenue reduction of around $3.7 trillion. Outlays would fall by $1.25 trillion through 2034. Elon Musk described the bill as a "disgusting abomination."Bond investors are not panicking over the higher government spending. The 20+ Year Treasury Bill ETF (TLT) gained 1.62% on Wednesday to close at $86.39. The ADP jobs report indicated weaker hiring levels. The lagging job market would encourage the Federal Reserve to cut interest rates sooner.Financial service stocks would fare well as rates fell. Wells Fargo (WFC) looked like it would rally toward $80 yesterday. The Fed lifted restrictions against the bank. At first, investors bought up WFC stock only to sell and book profits.In the electric vehicle market, Tesla (TSLA) stock dropped by 3.55%. The bill lacks any clean energy initiatives that would help Tesla thrive. Expect Lucid (LCID) and Rivian (RIVN) shares to perform poorly for the rest of the year. Consumers are no longer willing to pay a premium for EVs when hybrid and gas-powered vehicles are a more affordable option.