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. 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. His 2024 proposed budget has spending that will reach the $7 trillion threshold in 2025, $8 trillion in 2028, $9 trillion in 2031, and $10 trillion in 2033. IRA FLATOW: So there are things that we could not do even if I gave you my blank check question. Youre not talking about intelligent life. Hit to education:McCarthy budget would slash 60,000 teachers, 'undermine education,' Biden administration says. IRA FLATOW: Wow. IRA FLATOW: What was your original goal with this book? 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. Its like weve had with the International Space Station. 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. But a trillion dollars? It's probably not for me, but I'd love to see others do it. What size house will you buy for yourself? Do you anticipate that your circle of friends will change? Are you targeting governments? If it improves the value of my home, I will probably do it. And when we do get to the moon and start building on it, if you have an alliance, a true alliance of peoples, then I think it would be better for humanity. I can't see that my clothing will change at all. Potential cracks in the GOP lines persisted. 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 President Biden. Just before the evening vote, former Speaker Nancy Pelosi accused Republicans of "playing with fire" by not raising a clean debt ceiling. So they think its doable. That is, actually, what the singularity is, isnt it? Yeah, absolutely. All right, lets talk about where to spend the money, because you have some other ideas. 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. 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. I say cheap, you know, but to get to Mars, it would take all the trillion, I think. If youre a regular listener to the program, you have heard me ask researchers the question I call the blank check question. Imagine I gave you unlimited resources, a blank check, to spend on your research. I will have a whole team of financial experts working with me. 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. Players soon learn that chewing through billions of dollars is more difficult than it might first seem. AWSALB is an application load balancer cookie set by Amazon Web Services to map the session to the target. The bills savings would be even larger, but it includes one provision that would boost the deficit: taking back money the Internal Revenue Service was given to hire more than 80,000 new employees. boost from the bipartisan Committee for a Responsible Federal Budget. GOP leaders also included a slew of additional policies, such as the adoption of what is called the Reins Act, which would grant Congress major new authority to review and overturn health, labor and other rules issued by federal agencies. Between now and then, the House has 15 days in session. I think we are lonely. Will you be hiring others to work with you? Apparently, Biden decided to ignore that crucial point. Will you make any upgrades to your current home? Nearly all of And yes, the problems are massive. I'll visit family and friends very regularly. Rep. Thomas Massie (R-Ky.) said he was ecumenical on the changes being discussed but otherwise declined to disclose his stance. How big of a priority will it be for you to pay off your debts? There are so many places to see. The Republican leader announced the bill Wednesday just as President Joe Biden was preparing to deliver a speech in Maryland. Do you think you will purchase a recreational vehicle? 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. Whether its your openness or your warmth, you carry with you some of the best of human qualities. Pretend you have a The GOP's debt ceiling plan, dubbed the "Limit, Save, Grow Act,"includes$4.5 trillion incuts to government spending and returns discretionary spending to fiscal year 2022 levels. Individual income tax revenues were over $2 trillion in 2021 and 2022 for the first time a 64 percent increase in 2022 over 2020. 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. 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. It will be something small and practical. The TiPMix cookie is set by Azure to determine which web server the users must be directed to. As of last month, U.S. debt was $26.5 trillion. Number of 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). You might not be the type to buy a yacht, but you might splash out on something you've always wanted. 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. But the book isnt so much about raising the money. That will be a blast. 2023 BuzzFeed, Inc. All rights reserved. What do you make of the game? A load balancing cookie set to ensure requests by a client are sent to the same origin server. ROWAN HOOPER: Yeah. I might do a video series of my world travels. A few people have suggested that. A variation of the _gat cookie set by Google Analytics and Google Tag Manager to allow website owners to track visitor behaviour and measure site performance. 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. Web$4.5 trillion. Yeah. There will be some, primarily as a tax write-off. Possibly, especially if it sweetens a business deal. That includes, for example, participating in 80 hours per month in employment or community service otherwise states could remove these enrollees from the safety-net program. This cookie is used for storing country code selected from country selector. The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". 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. Spending a million dollars in a day is easy. That sounds fun. How far can a trillion dollars take you there? All rights reserved. I mean, one of the criteria used to select them was that they were actually fixable problems, right? , which said the proposed spending cuts should be seen in light of a run-up in appropriations since 2017. White House: Nothing New To Say, House Republicans Have A Now, I think if you asked people what they would do with a trillion dollars, a lot of them would say, first off, cure all human disease. We'll assume you're okay with this, but you can opt-out if you wish. 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. 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. Do you have information you want to share with HuffPost. In other news, Musk recently claimed that his company SpaceX could landastronauts on the Moonwithin the next three years. A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface. In speech after speech, Biden seems unwilling to address the extensive inflationary effects of his spending policies or their potential negative economic impact on future prosperity. Thank you for helping us continue making science fun for everyone. I'll probably integrate that into my plans somehow. The GOP bill would claw back unspent money authorized in previous coronavirus aid packages. A trillion dollars is a million dollars multiplied by a million. And so we really need to shut that down. I will be starting numerous new businesses. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. A new Silicon Valley campaign has been launched to drive investment into the UKs trillion-dollar tech sector to fuel emerging technologies and economic growth, amid the UKs plans to boost R&D spend to 20 billion in 2024. Do you think your eating habits might change? This cookie is set by GDPR Cookie Consent plugin. OK, so lets narrow it down just a bit. Kind of cheap. WebIn june 2020, the International Energy Agency estimated that governments worldwide would be spending $9 trillion in a matter of months on firing up their post-pandemic economies; another estimate put that figure at $12 trillion.4 In 2020, globally, more than $6 trillion was created through quantitative easing.5 I will keep it going for many, many years. 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. 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. It also helps in fraud preventions. Nearly all of that debt about $31.38 trillion is subject to the statutory debt limit, leaving just $25 million in unused borrowing capacity. I'll analyze the numbers and figure out the most effective way to become debt-free. GOP leaders updated their bill in the hours before debate to allow some of those investments to continue. But to settle on the moon, you could do it in under a trillion dollars, yeah. 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. How likely are you to start a new business? I hope that I will get to collaborate with some amazing new friends. The cookie is a session cookies and is deleted when all the browser windows are closed. House Republicans would raise the debt ceiling by $1.5 trillion, or suspend it until March 31, 2024, whichever occurs first. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages. 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. 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. Maybe people would want to chip in for something on a large scale.
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