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The Gist

Everything About The Economy Ever, Pithily Explained

The Gist

Peach Fish Productions

Daily News, News

4.53.7K Ratings

🗓️ 12 October 2022

⏱️ 37 minutes

🧾️ Download transcript

Summary

J. Bradford DeLong is here to deliver on the title of his impressive tome Slouching Towards Utopia: An Economic History Of The Twentieth Century. It Starts with 1870 and ends the year Law & Order was cancelled (it came back … the economy didn't). Plus, the case for the nation's defense budget being largely, mostly, mainly worth it. And the non-offensive parts of the LA City Council tapes are pretty instructive as to how politics everywhere really works. Produced by Joel Patterson and Corey Wara Email us at thegist@mikepesca.com To advertise on the show, visit: https://advertisecast.com/TheGist Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

The following program has some offensive language.

0:02.6

Though none of us would be here without the verb deployed,

0:05.7

it's thought by many better not to hear the verb deployed.

0:13.1

Wednesday, October 12, 2022 from Peach Fish Productions.

0:16.8

It's the Gisdai Mike Pesca.

0:18.8

The Biden administration's defense budget request is out.

0:23.6

It's at $773 billion.

0:26.7

A record, if you look at it one way, like the amount of money.

0:30.1

What Congress does is they usually add 20-something billion to this.

0:33.4

So it's going to be an over $800 billion defense budget.

0:38.6

Now, the classic thing to say, and not entirely untrue,

0:41.7

is wow, that's a lot, you know, since a billion is the thousand,

0:44.8

million, and we got about 330 million of us in this country.

0:48.2

We're talking about more than 2,000 per man, woman, and child

0:51.7

to fund the defense budget.

0:53.8

As Peter Jewel, who works with the American Progress Think Tank

0:58.2

and writes for a liberal patriot notes, however,

1:00.7

this amount of money, though large, is 3% of gross domestic product,

1:05.5

which is actually really low by historical standards.

1:08.6

And it's only what the country spent on the military in 1997,

1:13.2

which is the depth of the Cold War, the height of the end of the Cold War,

1:17.6

or before 9-11 after the Cold War,

...

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