Why Americans Are Turning to Discount Stores

WSJ What’s News

The Wall Street Journal

News, Daily News

4 • 4K Ratings

🗓️ 4 June 2025

⏱️ 13 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for June 4. Dollar General and Dollar Tree have reported bumper first-quarter earnings. WSJ reporter Suzanne Kapner joins to discuss what that shows about consumers, and about the state of the U.S. economy. Plus, the Congressional Budget Office estimates that President Trump’s tax-and-spending megabill would add $2.4 trillion to the U.S. deficit, as Republican senators are demanding changes that could alter its price tag. We hear from WSJ tax policy reporter Richard Rubin about how the bill might shift. And the Trump administration threatens Columbia University’s accreditation. Alex Ossola hosts. What’s News in Earnings: Retailers Scramble to Respond to Tariffs Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Last year, Amazon was the world's largest corporate buyer of renewable energy.
0:07.0	Seeing all and more of our energy comes from wind farms like this one.
0:14.0	Guys, what happened to recording that a solar bomb?
0:18.0	To learn more, visit about amazon.com at UK forward slash sustainability.
0:32.1	Republican senators want changes to President Trump's megabill,
0:37.2	which is estimated to increase the U.S. deficit by more than $2 trillion.
0:41.3	Plus, more high-income shoppers are turning to discount retailers.
0:45.3	What does this say about American consumers?
0:48.3	Consumers are under pressure, and even consumers that have a little more disposable income are trading down to these dollar stores to get bargains and value.
0:58.3	And Russian President Vladimir Putin told President Trump that Russia will respond to Ukraine's recent drone attack.
1:05.5	It's Wednesday, June 4th.
1:07.4	I'm Alex Osloaf for the Wall Street Journal.
1:09.3	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:18.4	The Trump administration has taken aim at Columbia University's accreditation, a significant
1:23.9	escalation in the government's battle with the Ivy League School.
1:27.4	The Department of Education told the organization through which Columbia is accredited
1:31.1	that the school is in violation of federal anti-discrimination laws
1:34.8	and no longer appears to meet the standards for accreditation.
1:38.4	The move doesn't revoke Columbia's accreditation, without which Columbia would be virtually unable to operate.
1:44.6	But the administration urged the accreditor to work with the school to make sure it comes
1:48.6	into compliance with federal law and, quote, take appropriate action if Colombia fails to do so.
1:54.9	Neither Columbia University nor the Middle States Commission on Higher Education, which accredits
	...

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