Biden’s economic legacy
Make Me Smart
Marketplace
4.6 • 5.5K Ratings
🗓️ 25 July 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
When President Biden leaves office in 2025, he’ll leave behind a series of industrial policies like the CHIPS Act and Inflation Reduction Act that have turned United States economic policy on its head. We’ll get into why it may take decades to see these initiatives fully play out. And, we’ll get into Vice President Kamala Harris’s budding economic agenda. Plus, why Tesla and other tech companies were a drag on the stock market this week.
Here’s everything we talked about today:
- “What happens to Biden’s industrial policy initiatives now?” from Marketplace
- “The Momala Economy: The candidate caregivers have been waiting for” from 19th News
- “Tesla earnings: Automotive revenue falls 7% in Q2, robotaxi timing unclear” from Axios
- “What goes up must come back down” from Marketplace
- VIDEO: “Paris” by The Brevet
Join us tomorrow for our 2024 Olympics Edition of Economics on Tap. The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern. And watch the hosts square off in a round of This/That!
Transcript
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| 0:00.0 | Let's do it. |
| 0:02.0 | Let's do it. Hey everybody, I'm Kyle Rizdahl, welcome back to make me smart where we make today make sense. |
| 0:12.0 | And I'm Kimberly Adams. me smart, where we make today make sense. |
| 0:13.4 | And I'm Kimberly Adams. |
| 0:14.5 | Thank you everyone for joining us on this Thursday, July the 25th. |
| 0:18.4 | We're gonna do what we do on Thursday, |
| 0:19.8 | listen back to some of the big stories of the week. |
| 0:22.1 | We've got some audio clips |
| 0:23.0 | lined up with which we are going to do that. The first one is from |
| 0:25.5 | conversation I had on the radio show earlier this week with Heather Long from |
| 0:29.5 | the Washington Post talking about the economic legacy that President Biden leaves behind |
| 0:35.4 | now that he is no longer running for re-election. Here you go. It's really a |
| 0:39.4 | dramatic turnaround in the last eight years you, Trump basically made tariffs mainstream again and |
| 0:45.1 | Biden has made industrial policy mainstream again. |
| 0:49.1 | And it's hard to really conceptualize what a dramatic 180 that is from the 1990s and early 2000s |
| 0:56.9 | view of how you do government economic policy. |
| 1:01.7 | Industrial policy of course being the CHIPS Act the Inflation reduction act, the bipartisan infrastructure law. |
| 1:06.0 | You know, used to be that the economic policy shoes were on the other feet and that the GOP was more in favor of industrial policy and |
| 1:14.8 | Republican Democrats were generally speaking more in favor of tariffs to protect |
| 1:17.8 | American workers that has now been turned upside down by by the changing nature of the global and the American domestic |
| 1:24.8 | economy. Here's the catch though and this is the reason I talked to Heather. We had |
| 1:28.4 | gone to Phoenix to do a story on on the big semiconductor factories out there. |
... |
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