Checks and Balance: Poor choices
Checks and Balance from The Economist
The Economist
4.5 • 1.8K Ratings
🗓️ 10 July 2020
⏱️ 38 minutes
🧾️ Download transcript
Summary
Congress must decide whether to extend federal aid for the unemployed beyond July. Ten million more Americans are out of work than in February, but evidence has emerged of falling poverty levels due to the stimulus. Could the coronavirus change the politics of poverty?
John Prideaux, The Economist’s US editor, hosts with Charlotte Howard, New York bureau chief, and Washington correspondent Jon Fasman.
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Transcript
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| 0:00.0 | This is a passenger announcement. You can now book your train on Uber and get 10% back in credits to spend on Uber eats. |
| 0:11.0 | So you can order your own fries instead of eating everyone else's. |
| 0:15.0 | Trains, now on Uber. T's and C's apply. Check the Uber app. |
| 0:20.0 | The historian Adam Toos traces the moment America became the world's greatest economic power back to World War I. |
| 0:31.0 | By financing the war against Germany, the United States emerged quite suddenly |
| 0:36.3 | as a novel kind of superstate, he writes. After more than a century of preeminence, |
| 0:42.0 | the persistence of extreme poverty in America is puzzling. |
| 0:46.0 | In the last recession, the share of Americans classified as poor jumped from 12 to 17 percent, more |
| 0:52.2 | than most European countries. |
| 0:54.7 | But the 2007 crisis pales into insignificance next to the economic shock America is experiencing |
| 1:00.7 | now amid the coronavirus pandemic. With 115 days to go, this is |
| 1:06.8 | checks and balance. |
| 1:08.1 | I'm John Prado, the Economist's US editor, and this is a podcast about the 2020 elections. |
| 1:18.0 | Each week we take one big theme shaping American politics and explore it in death. |
| 1:25.0 | Today, has the coronavirus changed the politics of poverty? poverty. |
| 1:45.3 | Congress is debating whether to extend federal aid for people out of work beyond the end of the month. Employment numbers bounce back in June, but there are still 10 million more jobless than there were before COVID hit America, and reopening |
| 1:50.2 | has stalled as the virus spreads. Meanwhile, there's evidence poverty levels |
| 1:55.2 | have been falling thanks to the stimulus. How might these emergency interventions |
| 2:00.1 | influence a longer-term anti-poverty strategy? In this |
| 2:04.4 | episode we'll find out which president came closest to introducing a universal basic income |
| 2:10.6 | and the me as ever to discuss all of this are Charlotte Howard, the economists New York Bureau Chief |
| 2:24.7 | and John Fasman, the Washington correspondent. Charlotte, how are you doing? How is the |
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