That's not going to be something that I spend money on. What do you make of the game? 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. 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. IRA FLATOW: What was your original goal with this book? 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. 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. We're simply going to observe the choices you make and try to figure you out a little. Youll find places where something looks funny, and then you can go and theorize about whats happening. Ira Flatow is the host and executive producer of Science Friday.Hisgreen thumb has revived many an office plant at deaths door. In dealing with the debt and deficit, President Biden has had the advantage of a 43 percent increase in federal tax receipts from 2020 to 2022, thanks to the 2017 Tax Cuts and Jobs Act. Funny Game Description Punish greedy fat cats and save honest peoples! Im Ira Flatow. But opting out of some of these cookies may have an effect on your browsing experience. Or some sort of universal treaty, like we had with the ozone layer. In between those are a brand new PlayStation 5, a $1million New York City apartment and even a $4.5million private jet. This cookie is associated with Django web development platform for python. 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. And they have to be ones that we can do right now, effectively, but that money is the thing thats been holding us back. This would not be a focus of my spending. Not surprisingly, for the first time in history, U.S. debt is predicted to exceed the nations Gross Domestic Product by the end of 2020. Here's your chance to live out the life of a multi-billionaire. All information these cookies collect is aggregated and therefore anonymous. Oh yeah, I want to try anything that is new and innovative. 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. We could do loads of observations of dark energy, dark matter. There are some travel books that I'll want to pick up. These movements were partly offset by an acceleration in consumer spending, an upturn in exports, and a smaller decrease in residential fixed investment. While the economy skirts recession in both scenarios, recession risks are uncomfortably high, with a consensus of economists and many investors and business executives expecting a downturn beginning late this year or early next. Absolutely not, they are terrible investments. My question is, is this what leadership is going to demand from the Senate, or are we going to get something watered down? Rep. Ralph Norman (R-S.C.) told HuffPost. I can't see myself buying anything along these lines. 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. I might have a few outfits crafted just for me, to highlight my unique style. 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 Is it a question of money, or is it a question of new ideas? GOP leaders updated their bill in the hours before debate to allow some of those investments to continue. 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. It might take a while for me to spend it but one way or another, it will be gone. House Speaker Kevin McCarthy insists it will be voted on this week, but a narrow House Republican margin leaves no room for error. Issued by Microsoft's ASP.NET Application, this cookie stores session data during a user's website visit. White House: Nothing New To Say, House Republicans Have A 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. "It's about cutting benefits for folks that they don't seem to care much about. But before I do that let me provide a bit of context to the scale of the numbers being discussed, as billions and trillions are huge numbers. The game presents Musks net worth, which you can spend on an array of different items by clicking on them as fast as you can. 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.. In late tweaks to the bill meant to satisfy far-right conservatives, GOP leaders agreed to speed up implementation of their new work requirements, which would take effect starting in the 2024 fiscal year. It's all about leverage. Apparently, Biden decided to ignore that crucial point. Are you interested in riding a rocket into space as a tourist? 30 Broad Street, Suite 801 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. So by 2030, theres $7 trillion in unpaid tax in the US. A free game challenges players to try their luck at spending the kooky Tesla boss's $166billion (116billion) fortune in just 30 seconds. It's probably not for me, but I'd love to see others do it. And yes, the problems are massive. Facebook sets this cookie to show relevant advertisements to users by tracking user behaviour across the web, on sites that have Facebook pixel or Facebook social plugin. ROWAN HOOPER: Yeah. Copyright 2023 CQ Roll Call. )3 Also in the spring of 2020, Congress appropriated $3.6 trillion, $1.9 trillion of which had been disbursed by July 2020. So I just wanted to show that there are solutions out there, and we can do this. IRA FLATOW: When you decided on the 10 problems, did you have to sit down and think about, gee, what problems can we actually fix? Tumblr. The cookies is used to store the user consent for the cookies in the category "Necessary". But the book isnt so much about raising the money. But Republicans have run into problems as Biden refuses to even discuss the House majoritys proposals. So its a fair deal more than them. 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. It will go pretty fast. And what we need to do is push it faster, get it rolling faster. Do you have any artistic projects in mind for the money? Do you have information you want to share with HuffPost? As you click on each item - which you can "buy" as many of as you like - your total spend goes up while the billionaire's net worth is whittled down. House speaker Kevin McCarthy (R-Calif.) outlined the partys new proposal at the New York Stock Exchange on April 17. Something that gets great gas mileage and can handle all kinds of terrain. Rowan Hooper looks at the problems facing the world today - all the big ones - and presents solutions that are YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages. If the federal government defaults on its payments this summer, the United States could see a recession, rise in unemployment or stock market crash,expertstold USA TODAY. Let's go shopping! Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category . 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. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. And their stated aim is to cure all disease and to extend human life to age 100 on average by the end of the century. WebHow To Spend a Trillion Dollars is both original and ingenious. And they only cost in the order of tens of billions of dollars each. Meanwhile, lawmakers are facing a time crunch to avoid default. What size house will you buy for yourself? ROWAN HOOPER: Well, what I would do is give a lot of money, a few hundred billion, to countries like India and China, especially, and basically stop them developing more fossil fuels by giving them money that says, use this to develop renewable energy, and dont use coal. It's an interesting idea. Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better experience for the visitors. I think we are lonely. The TiPMix cookie is set by Azure to determine which web server the users must be directed to. OK, so lets narrow it down just a bit. I'm sure that I'll bring back some pieces from my travels. Which new hobby would you most likely see yourself taking up? The game was created by British car rental firm Leasing Options to demonstrate how outrageously large the entrepreneurs wealth is. As of last month, U.S. debt was $26.5 trillion. Thats the question asked by Rowan Hooper. Treasury Secretary Janet Yellen told CongresstheU.S.could default on its debtas soon as June5. I'm sure I could come up with a great menu of unique dishes. I really like this idea because you effectively get twice the bang for your buck, because if you invest in areas of rich biodiversity or areas that are vital for biodiversity, they also tend to be areas that are vital for carbon storage areas. Science Friday is produced by the Science Friday Initiative, a 501(c)(3) nonprofit organization. These cookies help provide anonymized information on metrics the number of visitors, bounce rate, traffic source, etc. I'll analyze the numbers and figure out the most effective way to become debt-free. Rowan Hooper, journalist with New Scientist and host of their podcast, and author of How to Save the World for Just a Trillion Dollars The 10 Biggest Problems We Can Actually Fix, recently out in paperback from The Experiment. A few people have suggested that. They saw it as a critical way to ease a backlog at the tax agency while empowering it to investigate wealthy Americans and corporations that fail to pay what they owe a disparity known as the tax gap that may cost the government $1 trillion annually. Because the IRS was expected to get more money through tougher enforcement of tax laws with more manpower, taking the money back for those workers would mean the government would lose out on $191 billion over 11 years, the CBO said. Publisher: Profile Books Ltd. ISBN: 9781788163453. ROWAN HOOPER: The original goal was to daydream, you know? I may start a charity, but probably not a business. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. HuffPost's top politics stories, straight to your inbox. House Republican leaders have made clear his budget isnt going anywhere; but it illustrates just how out of control Bidens spending policies really are. 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. 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. Do you have one of your favorite ideas, besides what you think where we should spend it, one that you would like to spend it on, just maybe for fun? 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. The ultimate thought experiment opens our eyes to ten world-changing ideas within our grasp If we can come up with a trillion dollars to bail out banks, imagine what else we could do. 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. It's not really about the size, it's more about the potential resale value. 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. It is an 8% increase over this year's budget. Are you interested in purchasing jewelry? IRA FLATOW: Nice to have you. We're simply going to observe the choices you make and try to figure you out a little. 679215 Registered office: 1 London Bridge Street, London, SE1 9GF. AWSALB is an application load balancer cookie set by Amazon Web Services to map the session to the target. I'm definitely going to try a lot of new dishes. Will you be attending a lot more live music and theater shows? These cookies do not allow the tracking of navigation on other websites and the data collected is not combined or shared with third parties. Towards renewable energy. That is exactly what I'm talking about! These movements were partly offset by an acceleration in consumer spending, an upturn in exports, and a smaller decrease in residential fixed investment. Earlier this year, they voted to undo the budget boost, though the legislation has no chance of passage in the Senate. With Medicaid, meanwhile, Republicans proposed a rule requiring the low-income recipients of federal health insurance to satisfy certain income or work thresholds. I will have an advisor to guide me. I might actually start building some custom pieces. But it makes it more equitable. Number of Invest in quality science journalism by making a donation to Science Friday. Individual income tax revenues were over $2 trillion in 2021 and 2022 for the first time a 64 percent increase in 2022 over 2020. I've always wanted to have a beautiful zen garden on my property. ROWAN HOOPER: Well, I mean, if you ask Mark Zuckerberg, he says it is, because his stated aim so him and Priscilla Chan, his wife, started the Chan Zuckerberg Initiative. 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. And we can get there, and we can solve this problem. I'm more likely to make a donation to my local library. 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. 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. Do you have information you want to share with HuffPost. It's not my top priority, but I won't be going any further into debt. And can money spur these new ideas about what the universe is made of? Read an excerpt of How to Save the World for Just a Trillion Dollars: The Ten Biggest Problems We Can Actually Fix. I don't need much, just something that gets me from point A to point B. By that, I mean finding life outside of our planet. He previously served as the director of planning for Speaker Newt Gingrich. 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. I will make some alterations and updates that fit my personal style. 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. There's a lot more to being positive than being positive, after all. 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. 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. Let us know in the comments! Probably the second lowest would be quantitative easing, just get some I say just get some governments to print some more money. IRA FLATOW: So were not thinking a big GoFundMe campaign here. Analytical cookies are used to understand how visitors interact with the website. During Bidens first two years in office, he oversaw spending that was 40 percent higher than the pre-COVID 2019 budget. WebHow to Spend a Trillion Dollars: The 10 Global Problems We Can Actually Fix eBook : Hooper, Rowan: Amazon.com.au: Kindle Store You couldnt build a solar shield around the planet to deflect sunlight away, because its technologically not possible. If I had a trillion dollars than I could probably spend it. This has happened under former presidents, including Donald Trump. If it makes sense for the work I have planned, sure. I will leave the Biden reelection announcement to the Twittersphere to discuss. I may do some traveling to scout out some investment opportunities. These cookies ensure basic functionalities and security features of the website, anonymously. I don't think much will change, but I do hope to make friendships with those I help. Trillion-dollar deficits: Bidens new normal, It's time for the president to meet Republicans at the negotiating table. The $7.2 trillion added to the debt held by the public under Trump compares with $8.1 trillion added during the eight years of former President Barack Obama and Vice This cookie is used to manage the interaction with the online bots. New York, NY 10004. That initiative essentially shielded more of Americans income from calculations on what they owe under a repayment program known as IDR, which applies to federal loans. Rowan, welcome to Science Friday. The Republican leader announced the bill Wednesday just as President Joe Biden was preparing to deliver a speech in Maryland. There will definitely be a charity aspect of my new venture. 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. I will bring back loads of gifts for family and friends from my travels. IF you've ever wondered how tricky it would be to empty Elon Musk's coffers, then have we got the website for you. I expect that I will be mingling with much more influential people. The cuts probably would target federal health care, science, education, climate, energy, labor and research programs, while leaving untouched the Pentagon and services for veterans. The work requirements may save the government money, but they threaten to come at the cost of millions of families financial well-being, according to some outside estimates. :McCarthy, GOP debt limit plan proposes $4.5 trillion in cuts, eliminates student loan forgiveness, 'Playing with American lives':House GOP leaders blast Biden before debt limit vote. A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface. ROWAN HOOPER: Sure. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. The White House rebuked the Republicans' plan and said the president would veto the bill if it came to his desk. It's about finding ways to squeeze out more of America's middle class.". What would you do with a trillion dollars? 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. 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. I don't need much. Rep. Thomas Massie (R-Ky.) said he was ecumenical on the changes being discussed but otherwise declined to disclose his stance. Democrats, meanwhile, vehemently opposed the measure in the House and have refused to consider it in the Senate. Asked how he would ensure passage while also vowing to make no changes to the bill to win over needed GOP votes, McCarthy said, The same way weve done it every week when you talk to me about every other bill we bring to the floor. That would be another way. But what it could do is the ball is already rolling towards carbon-neutral energy, right? Maybe people would want to chip in for something on a large scale. And one is to settle off the planet, to set up a colony on the moon. IRA FLATOW: Thank you for taking time to be with us today, and good luck with your book. LinkedIn sets the lidc cookie to facilitate data center selection. Do you see yourself buying a lot more gifts for others? I don't think that will be something I will spend money on. To inquire about a licence to reproduce material, visit our Syndication site. The Source for news on Capitol Hill since 1955. Musk hasnamed himself the "Dogefather"in a tweet which appears to have sent the cryptocurrency Dogecoin soaring. House Speaker Kevin McCarthy has unveiled a sweeping package that would raise the nations debt limit by $1.5 trillion into next year. I'll probably integrate that into my plans somehow. More people, better technology, some costly ingredient or supply? 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