That is not something that I'm really interested in doing. How far can a trillion dollars take you there? Yeah. And one is to settle off the planet, to set up a colony on the moon. The game presents Musks net worth, which you can spend on an array of different items by clicking But if we had our blank check, we could have got a whole load of projects up and running. Twitter sets this cookie to integrate and share features for social media and also store information about how the user uses the website, for tracking and targeting. This cookie is set by the provider Akamai Bot Manager. Instead, he saw that supersized budget in 2020 not as a crisis, but an opportunity that could be exploited going forward to pay for what amounted to a historic spending spree that kicked off with the $1.9 trillion American Rescue Plan and drove what became the worst inflation in 40 years. It's not my top priority, but I won't be going any further into debt. This would not be a focus of my spending. The GOP's debt ceiling plan, dubbed the "Limit, Save, Grow Act," includes $4.5 trillion in cuts to government spending and returns discretionary spending to fiscal year 2022 levels. Speaker McCarthy unveils $1.5T debt bill, pushes toward vote Even if you just found some bacteria or something. Currentdollar GDP increased 5.1 percent at an annual rate, or $327.9 billion, in the first quarter, to a level of $26.47 trillion. IRA FLATOW: An idea you have is called second genesis, to develop a machine with human-level intelligence, a machine you would agree is as conscious as you and me. IRA FLATOW: So there are things that we could not do even if I gave you my blank check question. Number of But opting out of some of these cookies may have an effect on your browsing experience. So it should not be surprising that the new majority in the House wants to define policies that will create a trajectory toward some level of fiscal discipline, in combination with raising the debt ceiling. So by 2030, theres $7 trillion in unpaid tax in the US. And the good thing is theres a lot of projects already going to the moon that you could piggyback on or you could augment and speed it up. What happens if the US hits the debt ceiling? It would be fun to see what happens. You might not be the type to buy a yacht, but you might splash out on something you've always wanted. I am definitely buying an RV to travel around the country in. Even if you spend a dollar each second, it would still take you at least 31,700 years to spend 1 trillion dollars. trillion We'll assume you're okay with this, but you can opt-out if you wish. But they do that a lot. Hit to education:McCarthy budget would slash 60,000 teachers, 'undermine education,' Biden administration says. The CBO said other parts of the bill, meant to impose new or additional work requirements on some recipients of Medicaid and food assistance, would mean reductions in the number of people on those programs. IRA FLATOW: And you dont want to just stop at the moon. The bill's odds of passing in the Senate, where Democrats have the majority, are low. Can You Waste $1 Billion In A Week? - Quizly Its, what, 10 years late? With SNAP, they also included new language that says the purpose of the program is to assist low-income adults in obtaining employment.. ROWAN HOOPER: Yeah, it might be worth doing. Sign me up! You would have to come up with some pretty crazy ideas to spend that Where are the low-hanging fruit, I guess Im asking for, on this? Contrary to Bidens constant complaint that business doesnt pay its fair share, revenues from corporate income taxes in 2022 were over $400 billion, also for the first time, and an increase of 101 percent over 2020. To spend it on experiments that are doable now would only cost in the order of billions or tens of billions of dollars, which doesnt really add up to I couldnt spend the whole trillion in that chapter. I think a food truck would be right up my alley. So the question of, are we alone in the universe, or even in the solar system, is a massive question. These movements were partly offset by an acceleration in consumer spending, an upturn in exports, and a smaller decrease in residential fixed investment. , and to daydream about where and how an infusion of cash might do the most to accelerate solutions to some of the planets problems.. ROWAN HOOPER: Yeah, I think that would be awesome enough, yeah. ROWAN HOOPER: Yeah. I dont think its doable on a trillion dollars because theres just so much that needs to be done. I will likely pick up a few pieces here and there. House Republicans were still trying Tuesday to ensure they had enough votes to pass a massive spending cut bill as their opening bid in a fight with the White House over raising the governments debt limit. Gross Domestic Product, First Quarter 2023 (Advance Estimate) These cookies do not allow the tracking of navigation on other websites and the data collected is not combined or shared with third parties. The United States hit its current limit set at $31 trillion in January, prompting the Treasury Department to start making special maneuvers to continue paying federal bills and stave off a fiscal calamity. Hand out moneys to homeowners. Trillion Spending Trillion Spending In 2020, federal income tax revenues were $3.4 trillion. IRA FLATOW: Yeah, so my question is, how do you get people to commit this kind of money? I will definitely be buying lots of jewelry. IRA FLATOW: Nice to have you. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. At the center of the fight is the debt ceiling, the legal limit on how much the United States can borrow to pay its bills. Republicans have made no secret about their opposition to the Inflation Reduction Acts investments to fight climate change. I added some solar panels, and it was not cheap. And can money spur these new ideas about what the universe is made of? Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. That research has gone into a book, How To Spend A Trillion Dollars, published earlier this year (and in 2022 in the US). Credit: Shutterstock. This cookie is managed by Amazon Web Services and is used for load balancing. It was like, oh, what would I do if I had all this money? I may support an artist, but I don't have any artistic plans for myself. Is that really possible, even with a trillion bucks? In 2020, because of the pandemic, the budget jumped 47 percent to $6.5 trillion, as both Democrats and Republicans supported the need for emergency funding. In fact, Bidens 2024 budget proposal also projected that when that $10 trillion mark is reached, the deficit for that year will be over $2 trillion. Democrats originally approved the money last year as part of the Inflation Reduction Act, a centerpiece of Bidens economic agenda that aimed to lower health-care costs and boost clean energy. As the debate over the debt ceiling and fiscal discipline rages on, here are five key economic factors to keep in mind in the coming weeks. The reason Ive written that chapter is that theres billions of dollars being invested around the world in the race for artificial general intelligence. Democrats, meanwhile, vehemently opposed the measure in the House and have refused to consider it in the Senate. trillion McCarthy Denying Student-Debt Relief to His Own Constituents: (Video: The Washington Post), Repeal green energy programs, including some EV tax credits, Take back unspent covid aid and other measures, set aside to improve the Internal Revenue Service. I can't see this happening, but I may support a local artist or two. ROWAN HOOPER: Yeah, its actually surprisingly cheap. Senate Majority Leader Chuck Schumer described it as "dead on arrival," asSenate Democrats won't agree to the GOP spending cuts. So I just wanted to show that there are solutions out there, and we can do this. The timing of the government spending cuts in [the bill] is thus especially inopportune as it would meaningfully increase the likelihood of such a downturn, the company said. Republicans quickly blasted the financial relief as unfair, claiming that it is wrong to use taxpayer dollars paid, in part, by those who did not attend college to ease the debts of Americans who did. It is an 8% increase over this year's budget. VigLink sets this cookie to track the user behaviour and also limit the ads displayed, in order to ensure relevant advertising. Science Friday is produced by the Science Friday Initiative, a 501(c)(3) nonprofit organization. Holding a 222-213 margin in the House, McCarthy can lose only four Republican votes and still be able to pass the bill if all the representatives show up and vote along party lines. Players soon learn that chewing through billions of dollars is more difficult than it might first seem. Youll find places where something looks funny, and then you can go and theorize about whats happening. IRA FLATOW: [LAUGHS] Absolutely. OK, so lets narrow it down just a bit. Adjusting the 2019 spending for inflation, and given the remarkable increase in revenues, the deficit in 2022 would have been only $194 billion instead of a deficit of $1.3 trillion. With Medicaid, meanwhile, Republicans proposed a rule requiring the low-income recipients of federal health insurance to satisfy certain income or work thresholds. Favorite topics includeplanetary sciences, chemistry, materials, and shiny things with blinking lights. I mean, its a really good point. House Republicans would raise the debt ceiling by $1.5 trillion, or suspend it until March 31, 2024, whichever occurs first. I will be starting numerous new businesses. With it, Republicans also included a provision that would block one of Bidens programs meant to lower students monthly loan bills. This cookie is used to manage the interaction with the online bots. Millions of low-income Americans who receive food stamps and health insurance from the federal government would have to work longer hours in exchange for benefits under the new GOP bill. Absolutely. Do you think your eating habits might change? Imagining what you might do if you won the lottery or received a huge inheritance from a long-lost relative is a classic daydream. It seems like a good return on investment in this modern age. I could use that for a number of things. Publisher: Profile Books Ltd. ISBN: 9781788163453. The cuts in annual spending would still leave it in 2024 at about $125 billion above what former President Donald Trump had proposed in his final budget. The next trillion seconds is 317 centuries. The missives, which analyzed an earlier version of the GOP plan, said cuts back to 2022 levels would also hamstring government agencies that respond to extreme weather, eliminate 170,000 slots in a key federal preschool program, and impact the IRS and its ability to provide timely refunds. In total, the spending reductions could achieve more than $3 trillion in savings over the next decade, according to the nonpartisan Congressional Budget Office, which scored a version of the legislation this week. For the authoritative record of Science Fridays programming, please visit the original aired/published recording. YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages. The way you spend your IRA FLATOW: So were not thinking a big GoFundMe campaign here. Its certainly been slowing us down. I think that would be something really worth doing, because then you get this pristine view into the galaxy, into the universe, that we simply cant do on Earth. The nonpartisan Congressional Budget Office said the bill, would cut the budget deficit by $4.8 trillion over 11 years. House Speaker Kevin McCarthy (R-Calif.) told reporters late in the day that he thought the bill would still pass this week but acknowledged there were wrinkles that needed to be ironed out. You focus on all sorts of options in your book. The trillion-dollar gambling game - Josimarfootball.com You couldnt build a particle collider thats within the orbit of Mars that would allow us to really throw particles, collide particles together with such velocity that youd be able to really probe the structure of reality much more than we can do with the Large Hadron Collider. Musk, who is based in California, has since been overtaken by Amazon boss Jeff Bezos, but still sits in third place on Bloomberg's billionaires index. However, given the direction of current spending, the CBO baseline projects the annual deficit will be over $1 trillion dollars through 2029, and then it goes over $2 trillion dollars for the years spanning 2030-2033. FactChecking Biden's Reelection Remarks - FactCheck.org ROWAN HOOPER: Thank you, Ira. GOP leaders updated their bill in the hours before debate to allow some of those investments to continue. So interestingly, this is what Jeff Bezoss Earth Fund is doing on a smaller scale than a trillion dollars, but still, theyre doing it on a very effective scale by purchasing land that is both vital for carbon stores and for biodiversity. In January, he became the wealthiest man on the planet after Teslas unrelenting shares surged almost 750 per cent. ROWAN HOOPER: Well, globally, it wont get us to carbon zero. The billionaire recently warned that humanitymay wipe itself outbefore his aerospace company SpaceX has a chance to colonise Mars. House Speaker Kevin McCarthy has unveiled a sweeping package that would raise the nations debt limit by $1.5 trillion into next year. He advises Fortune 100 companies, foundations, and nonprofit organizations on strategic planning and public policy issues, as well as serving as an election analyst for CBS News. There will be some, primarily as a tax write-off. ROWAN HOOPER: Well, it is, although thats funny, that chapter, because big physics problems dont actually cost that much. And I think that the consequences of a single power or corporation getting there are so, so incredible that, ideally, I would love to spread out the benefits of that wider across the world, just so that we dont end up with one corporation or one entity, one state, really dominating the rest of us if they do get to this breakthrough kind of AI, or a breakthrough kind of quantum computer as well. McCarthy Denying Student-Debt Relief to His Own Constituents: The sp_landing is set by Spotify to implement audio content from Spotify on the website and also registers information on user interaction related to the audio content. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance. White House: Nothing New To Say, House Republicans Have A The U.S. House of Representatives on Wednesday narrowly passed a bill to raise the government's $31.4 trillion debt ceiling that includes sweeping spending cuts WebWith a million dollars, you could have that first issue comic book you've been dreaming about, or you could feed a small village for a number of years. Let us know in the comments! There are so many places to see. House Republicans would raise the debt ceiling by $1.5 trillion, or suspend it until March 31, 2024, whichever occurs first. Web$4.5 trillion. That is exactly what I'm talking about! These cuts are tied to a $1.5 trillion increase of the debt ceiling until May 2024. Trillion Dollar Bailout | Addicting Games Its not the final provisions, and theres a number of members who will vote for it going forward to say theres some concerns there.. So they think its doable. ROWAN HOOPER: The original goal was to daydream, you know? New York, NY 10004. AWSALB is an application load balancer cookie set by Amazon Web Services to map the session to the target. WASHINGTONThe House on Wednesday passed a Republican debt ceiling plan that includes $4.5 trillion in cuts and raises the debt ceiling until May 2024, but Democrats say it won't ward off a potential government defaultthis summer. So I think you could speed that up, or you could augment that, and really start looking for life forms out in the solar system. I may invest in some high-end pieces that should increase in value. It does not store any personal data. Gross Domestic Product, First Quarter 2023 (Advance Estimate) If adhered to, the caps would cut about $3.2 trillion from the pool of yearly appropriations to agencies including the Pentagon, the Department of Health and Human Services and the Environmental Protection Agency. Do it right and save the And most of all is basic health care globally would cost a lot of money.
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