Cheques imbalances: America’s partisan stimulus battle
Economist Podcasts
The Economist
4.3 • 5K Ratings
🗓️ 20 July 2020
⏱️ 21 minutes
🧾️ Download transcript
Summary
As Congress reconvenes and covid-19 rages largely unabated, the biggest question is how much to prop up the economy—and how to get past partisan rancour about it. With slumping oil prices and a pile of long-term worries, the oil-and-gas industry is looking to offload its dirtiest, most difficult assets. And international polling data suggest that money really can buy happiness.
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Transcript
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| 0:00.0 | Hello and welcome to the intelligence on Economist Radio. |
| 0:08.0 | I'm your host, Jason Palmer. |
| 0:10.0 | Every weekday, we provide a fresh perspective on the events shaping your world. |
| 0:17.0 | Not all oil fields are created equal. |
| 0:20.0 | Some are much more costly to run, both in dollar and in carbon terms. |
| 0:25.5 | This year's oil price crash has added to the industry's pile of long-term worries, |
| 0:30.3 | so companies are thinking about how to shed their riskiest assets. |
| 0:34.9 | And the saying that money can't buy you happiness is some comfort for those who don't |
| 0:39.9 | have much. But here's the thing. Polls from 145 countries suggest that the richer are, on average, |
| 0:47.1 | happier. Don't despair. Money still can't buy you love. |
| 0:55.8 | First up, though. |
| 1:01.1 | America's legislators return to Congress today as the country struggles to get to grips with COVID-19. |
| 1:07.9 | Last week, it shattered its single-day record for new cases, and ten states broke daily death toll records, including Florida. |
| 1:16.0 | On Fox News yesterday, President Donald Trump downplayed the grim statistics, saying the state's undeniably dangerous situation was no forest fire. |
| 1:25.0 | We have embers, and we do have flames. Florida became more flame-like, but it's going to be under control. |
| 1:32.9 | From today, Congress will be taking up another coronavirus aid bill |
| 1:36.6 | following the $2 trillion CARES Act, which was passed in March. |
| 1:41.8 | The most urgent question concerns the $600 a week unemployment benefit |
| 1:46.1 | that's currently helping nearly 25 million out-of-work Americans. It's set to expire at the end of the |
| 1:52.5 | month. Democrats want to extend it. People really do need this money. Baby needs a pair of shoes. This is urgent. Republicans aren't so sure. Unemployment is |
| 2:05.0 | extremely important. That is a different issue from whether we ought to pay people a bonus not to go |
| 2:10.8 | back to work. And there are more areas of disagreement. Democrats and Republicans are meeting in Congress to try and hash out what the |
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