The video discusses a recent analysis by the Congressional Budget Office indicating that President Trump's new legislation will add 3.4 trillion dollars to the U.S. national debt by 2034. The bill extends previous tax cuts while improving deductions for tips and overtime pay, and increases military and deportation spending. To offset costs, it proposes significant cuts to Medicaid, SNAP, and clean energy programs. The law is projected to result in more uninsured Americans, though it may slightly lower healthcare premiums.