Trump wants to claw back unspent IRA funds. That might not be easy.
Marketplace Morning Report
Marketplace
4.5 • 928 Ratings
🗓️ 7 November 2024
⏱️ 7 minutes
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Summary
Among the many promises President-elect Donald Trump laid out on the campaign trail: clawing back unspent money from the Inflation Reduction Act, which has poured billions into the clean energy sector. But much of those funds is destined for red states and red counties, and the politics of stopping the money will be tough. Also on the program: a look at how the economy factored into voting decisions with Karen Petrou.
Transcript
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| 0:00.0 | How economic inequality explains a lot of the votes for Donald Trump this week. |
| 0:06.9 | I'm David Brancaccio in New York. |
| 0:09.2 | Let's start by going deeper into what voters told surveyors after casting their votes this week. |
| 0:14.5 | The top issue cited by 32% was the economy. |
| 0:18.1 | 46% said their family's financial situation was worse than four years ago. |
| 0:22.8 | 24 percent said they were better off. 30 percent see their situation as unchanged, according to Edison |
| 0:28.3 | Research's scientific survey. Now, let's bring in Karen Petru from Washington now. She's founder of |
| 0:33.7 | federal financial analytics. Morning. Morning. Good morning. |
| 0:43.2 | You have long studied how the economy serves people, how it can contribute to their livelihoods or not. |
| 0:53.6 | Now that we've been looking through what voters told exit poll surveys, what do you make of this strong view that the economy stinks, even when the indicators say it's relatively awesome. |
| 1:04.3 | In a nation as acutely unequal as the United States, with such disproportionate income and wealth, |
| 1:16.5 | held in the top 1%, aggregate data do not represent the way 90 percent of Americans live. The top 1 percent of Americans have more wealth than the bottom 90 percent. So who gets the results |
| 1:23.2 | of that GDP and who is being paid what for that job. And Americans said, not me. I worry, I struggle. |
| 1:33.0 | I'm afraid. Now, that's a central topic for us on this program over the months and the years, |
| 1:39.8 | which is inequality. But we also have data from the job market, and it looks like the economy |
| 1:45.7 | keeps adding more people on the payrolls and that the unemployment rate looks low. |
| 1:52.4 | Is the fact that people are still feeling precarious in their lives? Is it something to do with, |
| 1:58.8 | well, they have to work two or three of those jobs to make ends |
| 2:01.4 | meat? Absolutely. I mean, if you look at the difference between what $100 of groceries |
| 2:07.7 | cost in 2019, what it costs today, and what wages look like in 2019 and what they look like today, |
| 2:16.7 | and what they look like today. In other words, the gap is |
| 2:20.8 | really gigantic. Now, from all of our conversations over the years, Karen, I wouldn't expect |
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