ROWAN HOOPER: Yeah. McCarthy, GOP debt limit plan proposes $4.5 trillion in cuts, eliminates student loan forgiveness, House GOP leaders blast Biden before debt limit vote, $4.5 trillion incuts to government spending, McCarthy budget would slash 60,000 teachers, 'undermine education,' Biden administration says, Your California Privacy Rights / Privacy Policy, Rescinding the funding for 87,000 IRS agents, Reallocatingunspent COVID-19 reliefmoney, EliminatingBiden's student loan forgiveness plan, Ending tax credits for companies that invest in green energy, Raising the age limit to 56 from 50 on work requirements to receive federal food aid from the Supplemental Nutrition Assistance Program, or SNAP, Blockingthe Biden administration from limiting consumer access to gas stoves or ovens. Theyre technologically out of reach. That is, actually, what the singularity is, isnt it? We could go to the far side of the moon and put a space observatory there, a science observatory on the far side of the moon. Web$4.5 trillion. I have read, understood and accepted Gartner Separate Consent Letter , whereby I agree (1) to provide Gartner with my personal information, and understand that information will be transferred outside of mainland China and processed by Gartner group companies and other legitimate processing parties and 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. Keep the coal in the ground, because at the moment theres still too much coal-fired power stations being used being built, even in those countries. They raised the debt ceiling three times during the Trump administration, she said, but now they are using the full faith and credit of the U.S. to try and force spending cuts Democrats will not accept. All information these cookies collect is aggregated and therefore anonymous. ROWAN HOOPER: Yeah, I think that would be awesome enough, yeah. Instead, the president wants a clean debt ceiling vote without provisions to rein in spending, hardly surprising from someone who has just proposed a budget that includes reaching a record $10 trillion in spending by 2033. Instead, focusing on one of the most important issues Biden never mentioned in his Tuesday announcement video: the economy, specifically the countrys staggering debt, a looming catastrophe waiting to happen. What size house will you buy for yourself? But they do that a lot. So the question of, are we alone in the universe, or even in the solar system, is a massive question. 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. And literally, if you could throw some money at it, throw more money at it than we do now, you might be able to answer that question. But still, I think an alien bacterial life form found in this solar system would be a truly sensational discovery. This cookie is used to detect and defend when a client attempt to replay a cookie.This cookie manages the interaction with online bots and takes the appropriate actions. Last year, the UK proved itself to be a tech superpower as it became the third nation in the world to achieve a tech I would give a few tens of billions of dollars to some of the smaller space agencies, especially the African Space Agency and some of the ones in smaller countries other than the US and China, and make a Terran Alliance that would elevate other countries up into space so that its not just dominated by the US and China. I will likely purchase some pieces that are recommended by an expert for their value. A load balancing cookie set to ensure requests by a client are sent to the same origin server. Absolutely. The outcome marked an escalation in the standoff between the House Speaker Kevin McCarthy (R-Calif.) and Biden, as Republican leaders hardened in their resolve to exploit a key fiscal deadline for political leverage even at the risk of causing the U.S. government to default. The GOP bill would also make it harder for states to spare certain families on SNAP from federal work requirements a flexibility some states have used to help lower-income people during times of high unemployment. Hooper joins Ira to talk about his book, How to Save the World for Just a Trillion Dollars: The Ten Biggest Problems We Can Actually Fix, and to daydream about where and how an infusion of cash might do the most to accelerate solutions to some of the planets problems.. So how about cracking down on that unpaid tax a bit, freeing up a few trillion dollars. IRA FLATOW: And then you say half a trillion to massive biodiversity renewal and carbon drawdown scheme. What would you do with a trillion dollars? Is it a question of money, or is it a question of new ideas? The president has maintained that Republicans should increase the debt limit without conditions, saying that a miscalculation that triggers a default could push the economy into a recession. And what we need to do is push it faster, get it rolling faster. Three financial firms recently estimated early June as well. 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. Which location sounds the most appealing for a second residence? House Republicans would raise the debt ceiling by $1.5 trillion, or suspend it until March 31, 2024, whichever occurs first. Weve been working there, different nations working together for years up there. That the ideas havent been coming. Now, I have to caveat that by saying that you might only find that were not alone because theres a bacteria living on Enceladus or on Europa out in the solar system. For McCarthy, the process proved precarious, forcing him to make late changes to the legislation to assuage about a dozen moderate and conservative holdouts. Will you make investments in the stock market? In 2020, federal income tax revenues were $3.4 trillion. Tell us about the things you would do with your cool million, and we'll be able to tell you which of your traits is the most positive. That includes a partial end to tax credits for electric vehicles: It would ax the $4,000 credits for used vehicles and phase out some of the $7,500 credits for new EVs. How big of a priority will it be for you to pay off your debts? Or some sort of universal treaty, like we had with the ozone layer. First, the bill targets the Supplemental Nutrition Assistance Program, or SNAP. IRA FLATOW: And you dont want to just stop at the moon. We're simply going to observe the choices you make and try to figure you out a little. These cookies ensure basic functionalities and security features of the website, anonymously. I have a lot of questions, said Rep. Brian Fitzpatrick (R-Pa.), the co-chair of the bipartisan Problem Solvers Caucus, who is seen as a moderate in the party. How quickly do you see yourself spending all your money? The cookie is a session cookies and is deleted when all the browser windows are closed. The bill, if it passes the House, would almost certainly not become law given the Democrats hold on the Senate and the threat of President Joe Bidens veto pen. That is not something that I'm really interested in doing. And he has pointed out that Democrats repeatedly aided Republicans in raising the borrowing cap, even when the party opposed policies enacted under President Donald Trump. In January, he became the wealthiest man on the planet after Teslas unrelenting shares surged almost 750 per cent. Do you have information you want to share with HuffPost. Are you targeting them? The federal governments total public debt stood at just under $31.46 trillion as of Feb. 10, according to the Treasury Departments latest daily reckoning. The Source for news on Capitol Hill since 1955. This week we will pass a bill on this floor that will lift the debt ceiling something the Senate has not done, something the president has not negotiated and send it over to the Senate, McCarthy said. That is exactly what I'm talking about! House Speaker Kevin McCarthy has unveiled a sweeping package that would raise the nations debt limit by $1.5 trillion into next year. I may invest in some high-end pieces that should increase in value. Even if you just found some bacteria or something. But you could do a huge amount of good tackling various diseases of course you could with a trillion dollars. 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 over the next decade. It is the federal government's other trillion-dollar baby. I might give it a try. Are you targeting governments? IRA FLATOW: Yeah, so my question is, how do you get people to commit this kind of money? In other news, Musk recently claimed that his company SpaceX could landastronauts on the Moonwithin the next three years. 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. IRA FLATOW: How much is a trillion dollars? Perhaps I will try to do it now. There are so many people to help. Towards renewable energy. I might get something that would be a fun project to work on. The nonpartisan Congressional Budget Office said the bill, would cut the budget deficit by $4.8 trillion over 11 years. People are wondering now if science is slowing down, right? These cookies track visitors across websites and collect information to provide customized ads. This cookie is set by GDPR Cookie Consent plugin. And thats what Id like to see on a much bigger scale. House Speaker Kevin McCarthy insists it will be voted on this week, but a narrow House Republican margin leaves no room for error. WebKindle $10.99 Rate this book How to Spend a Trillion Dollars: Answering the Big Questions in Science and Saving the World Rowan Hooper 3.69 224 ratings30 reviews DIEZ MEGAPROYECTOS CIENTFICOS Y SOCIALES PARA SALVAR EL MUNDO Fascinante. MARGARET ATWOOD In the fourth quarter, GDP increased It wont get us to a carbon-neutral state at all. You can read an excerpt from the book on our website, sciencefriday.com/trilliondollars. I will make some alterations and updates that fit my personal style. It might be something I invest in if it becomes popular and profitable. It will be something small and practical. Spending your cash your very own way will help us to nail down the best one. The pattern element in the name contains the unique identity number of the account or website it relates to. And I think that would be actually, now I say it, it sounds a bit like Star Trek, doesnt it? The GOP bill would claw back unspent money authorized in previous coronavirus aid packages. And so we really need to shut that down. 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. Like the Federation. I may collaborate with others, but I don't see hiring people. That research has gone into a book, How To Spend A Trillion Dollars, published earlier this year (and in 2022 in the US). 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. Whether its your openness or your warmth, you carry with you some of the best of human qualities. If I had a trillion dollars than I could probably spend it. Revenues from both individual income taxes and corporate income taxes were the highest they have ever been. Biden told McCarthy he would not negotiate on the debt ceiling, arguing it should be raised by Congress without parameters. This cookie is used to manage the interaction with the online bots. My first step will be to pay off all my debts and the debts of those close to me. I can't see myself buying anything along these lines. And then youll get new ideas, and the thing will start rolling on. It has 12 zeroes: looking for trillions-worth of video games and ramen noodles to repossess. Functional cookies help to perform certain functionalities like sharing the content of the website on social media platforms, collect feedbacks, and other third-party features. IRA FLATOW: Wow. It's not really about the size, it's more about the potential resale value. Copyright 2023 CQ Roll Call. But the bill does not specify the exact agencies or programs on the chopping block, leaving the task to lawmakers on congressional appropriations committees who craft spending bills that keep the government running and stave off a shutdown. ROWAN HOOPER: Yeah. The nonpartisan Congressional Budget Office said the bill would cut the budget deficit by $4.8 trillion over 11 years, with the bulk of that savings coming from caps the bill would place on the annual funding voted on by lawmakers. Not really. The game was created by British car rental firm Leasing Options to demonstrate how outrageously large the entrepreneurs wealth is. IRA FLATOW: This is Science Friday from WNYC Studios, talking with Rowan Hooper, author of How to Save the World for Just a Trillion Dollars The 10 Biggest Problems We Can Actually Fix. 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. Translating that from dollars into seconds that would be 6.4 centuries. 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. 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. IRA FLATOW: Yeah, you certainly could. 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. The sp_t cookie 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. Let us know in the comments! 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. Google DoubleClick IDE cookies are used to store information about how the user uses the website to present them with relevant ads and according to the user profile. A free game challenges players to try their luck at spending the kooky Tesla boss's $166billion (116billion) fortune in just 30 seconds. We could do loads of observations of dark energy, dark matter. Even if you spend a dollar each second, it would still take you at least 31,700 years to spend 1 trillion dollars. Imports turned up. IRA FLATOW: What was your original goal with this book? The way you spend your money is completely up to you. I mean, its a really good point. Rep. Thomas Massie (R-Ky.) said he was ecumenical on the changes being discussed but otherwise declined to disclose his stance. The way you spend your money is completely up to you. Read an excerpt of How to Save the World for Just a Trillion Dollars: The Ten Biggest Problems We Can Actually Fix. Favorite topics includeplanetary sciences, chemistry, materials, and shiny things with blinking lights. Rowan Hooper is a journalist and podcast host at New Scientist, and author of the book How to Save the World for Just a Trillion Dollars: The Ten Biggest Problems We Can Actually Fix (The Experiment, 2022). ROWAN HOOPER: Sure. I will keep it going for many, many years. As Science Fridays director and senior producer, Charles Bergquist channels the chaos of a live production studio into something sounding like a radio program. Do you have a story for The Sun Online Tech & Science team? It also helps in fraud preventions. Behind the scenes, GOP leaders have touted that time frame as a selling point with their members, because it may give them another opportunity to make more demands of the White House. I'm more likely to make a donation to my local library. Are we really cosmically lonely? 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. Its like weve had with the International Space Station. With 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. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. And they only cost in the order of tens of billions of dollars each. In the first eight months of this fiscal year, it spent $730,000,000,000 or an average of $91,250,000,000 per month. From the obvious (fix climate change) to something you might not have thought about in a while (expand our concept of reality), it's consistently thought-provoking material. While a trillion dollars cant solve every problem, he estimates it would go a long way towards tackling disease, combating global warming, protecting biodiversity, or even establishing a moon base. House Republicans on Wednesday approved a bill to raise the debt ceiling into next year, slash federal spending by billions of dollars and unwind some of President Bidens priorities and recent legislative accomplishments, including his program to cancel college student debt. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. Email us at tech@the-sun.co.uk, Olly Murs breaks down on stage over Caroline Flack 'regret', Fulham's Pereira stretchered off with suspected broken leg in worrying scenes, One dead and seven injured as knifeman goes on bloody rampage near club, We work in top seaside town - tourists queue just to get into the pub, News Group Newspapers Limited in England No. 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 And they have to be ones that we can do right now, effectively, but that money is the thing thats been holding us back. A trillion dollars is a million dollars multiplied by a million. The next billion seconds is 31.7 years. Nearly all of LinkedIn sets this cookie for LinkedIn Ads ID syncing. But Republicans ultimately dialed back some of their original plans, under pressure from moderate lawmakers particularly those in Midwestern states who balked at unwinding tax credits meant to boost ethanol and solar energy.
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