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Top Headlines
Megabill Add Trillions
President Trump's "big, beautiful bill" would add $2.4 trillion to the deficit over the next decade, according to a new Congressional Budget Office analysis that's igniting fresh Republican attacks on the nonpartisan scorekeeper. The proposed tax cuts would slash revenues by $3.6 trillion while spending cuts to Medicaid and food assistance would save only $1.2 trillion (see how this effects Bond market).
Republicans have been pushing the narrative that tax cuts pay for themselves, but fiscal hawks within the party are pressing for deeper spending reductions. The bill would also strip health insurance from 10.9 million Americans by 2034, including 1.4 million without verified citizenship status. Read Trump’s economic promise timeline.
Senate changes loom as Republicans race toward early July passage, with some senators balking at Medicaid work requirements that generate much of the projected savings. The package would keep deficits at 6.5-7% of GDP with no progress on fiscal discipline, analysts warn. Meanwhile, Republicans celebrated Wednesday's 4.6% second-quarter growth forecast after first-quarter contraction (see more).
Salesforce Data Hacked
A sophisticated hacker group has stolen Salesforce data from 20 companies across the US and Europe using voice phishing tactics, Google's Threat Intelligence Group revealed Wednesday. The attackers called employees pretending to be IT support, tricking them into revealing login credentials or installing malicious copycat Salesforce tools before demanding ransoms.
The breach follows a devastating retail hacking spree that hit Adidas, The North Face, Cartier, and Victoria's Secret in recent months (read more), exposing customer contact information. UK attacks proved even costlier, with ransomware hitting Co-op, Harrods, and Marks & Spencer, which expects $400 million in losses from its breach alone.
Google suspects the decentralized hacker collective "the Com" orchestrated the Salesforce attacks, linking them to Scattered Spider, the notorious group behind MGM Resorts' 2023 cyberattack. British police believe these same actors may be responsible for the UK retail carnage, highlighting how voice phishing has become cybercriminals' weapon of choice against human targets.
Sam Altman Movie
Luca Guadagnino is in talks to direct "Artificial," a lightning-fast Amazon MGM production chronicling Sam Altman's dramatic firing and rehiring at OpenAI in 2023. The Challengers director could reunite with Andrew Garfield to tackle the AI industry's most explosive boardroom coup, with production eyeing a summer start despite deals still being negotiated (read here).
Monica Barbaro and Yura Borisov are circling key roles as OpenAI executives in what sources describe as a breakneck development timeline. Garfield (who also played Eduardo Saverin in The Social Network) would portray Altman, while Barbaro takes on CTO Mira Murati and Borisov plays co-founder Ilya Sutskever, who led the boardroom revolt. The project marks Guadagnino's third collaboration with Amazon after After the Hunt and his tennis sensation Challengers.
The timing creates an ironic twist for Guadagnino, whose DC war film Sgt. Rock starring Colin Farrell was recently shelved over "daylight issues." Now "Artificial" could begin shooting before Rock's original schedule, capitalizing on Silicon Valley's ongoing fascination with OpenAI's corporate chaos. Simon Rich penned the script with David Heyman producing (read more about this firing/hiring story).
Earn Better
Escape Money Traps
Myron Golden exposes the middle-class money trap (video here): Poor and middle class people feel like everything is expensive because they’re paying for things in exchange for their time. It goes like this:
You trade an invaluable asset (time)
For a limited asset (money)
Then trade that for a depreciating asset (car)
“…and wonder why you’re still broke.”
The business consultant says this is financial suicide disguised as normal behavior. People don't stay broke because they're lazy — they stay broke because their money doesn't work for them. While you're trading hours for dollars, wealthy people make their money multiply through assets that appreciate. They buy things that generate income, not drain it. Golden's prescription: Stop being a time-for-money slave. Start making your money work harder than you do.
Best Podcast
Learn how to retire by age 30. Mr. Money Mustache (blog here) reveals the moment he realized most people are trapped in a soul-crushing cycle of earning more to spend more, never actually getting happier. His radical awakening: you don't need six figures to live beautifully—you need to optimize for joy, not salary. His counterintuitive philosophy that launched a 23-million-person movement. Full episode here.
Market Pulse
> Trump Orders Biden Mental State Probe targeting "autopen" decisions and 200+ judge appointments amid questions about cognitive fitness (More).
> Kimberly-Clark Sells Kleenex International in $3.4B deal with Brazil's Suzano as company refocuses on profitable North American markets (More).
> Nintendo Switch 2 Launch Draws Crowds as gamers queue up in Tokyo amid "sky-high" demand for next-gen device (More).
> P&G Cuts 7,000 Jobs as Pampers maker braces for tariff hit and uneven consumer demand over next two years (More).
> BarkBox Apologizes for Leaked Pride Pause after internal message cited "political climate" concerns over LGBTQ marketing to dog owners (More).
Speed Read
Why you get brain freeze.
The Army’s new fitness test.
Disc golfer hit by flying shark.
Origin of cringey corporate jargon.
See how fast you actually type.