Spending cuts aren’t the only answer to the budget deficit
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 27 October 2023
⏱️ 15 minutes
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Summary
There’s been a lot of talk about the ever-growing U.S. federal deficit lately. That discussion has largely revolved around spending cuts. But the flip side of the issue— that is, increasing revenue — is largely ignored. We’ll get into what increasing the government’s revenue could look like and how an approaching expiration date for some Trump-era tax cut provisions could impact taxpayers in the coming years. Also, we’ll hear from UAW President Shawn Fain about the union’s tentative deal with Ford and the outsized CEO salaries that made headlines this year.
Here’s everything we talked about:
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- “UAW President Shawn Fain: We’ve got a tentative deal with Ford” from Detroit Free Press
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- “CD282: Chaos Fires McCarthy” from Congressional Dish
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- “Do CEOs make too much money?” from Marketplace
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- “Let’s talk about revenue and the budget deficit” from Marketplace
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- “The Problem With a $2 Trillion Deficit” from The New York Times podcast “The Daily”
Join us tomorrow for Economics on Tap! The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern. We’ll have news, drinks, a game and more.
Transcript
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| 0:00.0 | Okay. Let's do it. And ever you're ready. |
| 0:05.5 | Hmm. I'm ready. |
| 0:08.8 | After the pandemic, everybody, I'm Kai. |
| 0:10.7 | Rizzo, I'm looking back to make me smart. |
| 0:12.4 | Where we make today makes sense. |
| 0:15.6 | And I'm Kimberly Adams. Thank you for everyone for joining us |
| 0:18.1 | this Thursday, October the 26th. |
| 0:21.0 | This being a Thursday, we're doing audio clips today, news and |
| 0:25.1 | happenings of the past five days. Here is number one. |
| 0:29.2 | We told Ford to pony up and they did. |
| 0:33.2 | We won things. Nobody thought was possible. |
| 0:37.3 | Since the strike began, Ford put 50% more on the table than when we walked out. |
| 0:46.1 | This agreement sets us on a new path to make things right at Ford, at the big three, |
| 0:53.6 | and across the auto industry. |
| 0:57.2 | So that's Sean Fanon, head of the United Auto Workers, announcing the agreement late |
| 1:02.5 | yesterday, Wednesday evening, East Coast time, late afternoon here on the best coast. |
| 1:08.7 | About their agreement with Ford, sorry, had to. |
| 1:11.9 | I don't usually, but I had to. |
| 1:14.1 | Yeah, that's right. Ford has made a deal with UAW or UAW has made a deal with Ford. |
| 1:20.0 | I think it's interesting in a couple of respects. Number one, this now amplifies the |
| 1:23.9 | pressure on Stellantis and General Motors, which it'll be interesting to see how much longer |
| 1:29.9 | the strike overall lasts. Number two, there were some things for all that Fane did get in this |
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