People will feel the one big, beautiful bill, and it will be ugly

Every semester, the students in my business writing class are divided up into teams and are assigned a real-life challenge from a company looking to elevate its performance in any number of ways. It’s an opportunity to research the complexities of a market, to create an entrepreneurial solution and to effectively communicate all of it to the company looking to grow.

And it’s an opportunity for me. I get to teach them the value of feedback. The worst ideas I’ve seen in my career come from organizations that spend too much time only talking to each other. The habit skews logic and rationality and creates blind spots allowing for fantastical outcomes that ultimately prevent actual success.

So, let’s talk about this lesson plan in the context of “The One Big Beautiful Bill Act,” or “OBBBA.”

First, the name itself. What likely started as a spasm straight from the mouth of President Donald Trump has become the dumbest title of landmark legislation in history. It communicates nothing of what the legislation actually does, good or bad, and sounds unserious, sarcastic and irritating in its vagueness.

On Tuesday while researching the latest in the U.S. Senate, I spotted the first commercials for Trump’s new men’s cologne and women’s perfume on social media. I, of course, thought it was a hoax at first, but confirmed it’s reality. The scents, called “Fight, Fight, Fight” and “Victory 45-47” must feature a refreshing aroma; sweet, soothing and subtle with a sort of locker room-esque approachability.

After that brief rancid distraction, I went back to looking for the talking points from those who support Trump’s legislation. I came across the promotion of “OBBBA,” on the White House webpage. This document is truly stunning in its silliness. Please look at it. It honestly looks like an ad for the smelly cologne, or possibly an ad for a pride-swallowing memoir about the smelly cologne. But I’m a professional, so I scrolled past that embarrassing half page to get to the words part of this debate.

There are endorsements rolling by on a ticker under an oversized header, “Backed by American Industry.” This list is actually pretty short: Verizon, Comcast, Dell, 3M, Delta and Uber. Hmm. Uber? The company that finally turned its first annual profit in 2023 is supporting OBBBA because of the bill’s elimination of taxes on tips. But that elimination doesn’t appear to apply to Uber drivers in its current form. This endeavor is so gimmicky, even those who support the idea in theory often overlook its limited impact. The Economic Policy Institute’s February piece is a valuable source on the issue.

Second, almost every Republican is ignoring something they really shouldn’t. The polling shows this legislation is historically unpopular. The vast majority of Americans can see harm coming from this bill. Whether it’s healthcare cuts or deficit growth, both of which are unquestionably coming from OBBBA, all polls are showing similar results. On Monday, Harry Enten, CNN’s Chief Data Analyst, detailed five – that right, five – different polls that showed the legislation’s net favorability ranging from minus 19 to minus 29. Enten tried to find a bill that has ever been this unpopular and couldn’t.

Third, and likely lost in the noise of the big, beautiful bust, is this story from the New York Times: “The Dollar Has Its Worst Start to a Year Since 1973.” Some of my younger readers might wonder what happened 52 years ago. Well, this: “The last time the dollar began a year with such a steep decline was in 1973 when foreign currencies stopped being linked to the dollar.

That move came two years after President Nixon made a decision to no longer link gold to the dollar.” Yea, that was a biggie too.

Again, what is important with regard to the value of the U.S. Dollar’s decline is the feedback it provides. Steve Englander, global head of G10 foreign exchange research at Standard Chartered says, “The issue is: What is it telling you about how the world sees your policies?”

For those who don’t trust polling, trust the valuation of our currency. This steep decline is screaming at us that our policies are anything but beautiful.

As I have gotten older, I have become both more patient and a better listener. This entire political and cultural experience of MAGA has tested my patience, but I am convinced that eventually those trapped in that deafening echo chamber will one day escape. A friend told me last year that the escape will begin in earnest when supporters truly feel the consequences of the movement’s failures.

I try to teach my students to thoughtfully listen to the feedback they get and to use it wisely. If only our leaders could do the same.