Economy & Business

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05/24/2017: Online support in the wake of a tragedy

May 23, 2017
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Marketplace

Terrorist attacks over the past several years have led to the formation of multiple online groups to help survivors cope and allow others to reach out. Karen North from the University of Southern California joined us to talk about how these networks spring up and the support they can provide to those dealing with tragedy. Afterwards, we'll look at how fintech services are trying to help decrease the amount of unbanked Americans.  Sheena Allen, cofounder of CapWay, explains how her company wants to improve the financial health of the underserved.

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Janet Nguyen

When we think of tech, we think Silicon Valley. But that could change. Places like Omaha, Nebraska and Philadelphia are becoming promising areas for startups to develop and grow. In this series, we’re looking for cities that might become home to the next big thing.

Becoming a region known for innovation doesn't necessarily have to mean becoming Silicon Valley. 

Top officials at the U.S. Department of Agriculture didn't even try to act enthusiastic as they unveiled details of their agency's proposed 2018 budget, which includes drastic cuts in spending. "We're going to do the best we can," said Agriculture Secretary Sonny Perdue. "It's my job to implement that plan."

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President Trump's proposed budget released Tuesday rests on a key assumption: The economy will grow much faster than it has in recent years — and at a more robust pace than most analysts predict.

On paper President Trump's newly unveiled budget proposal is balanced. But that's predicated on an extraordinarily rosy projection for U.S. economic growth: Trump says he expects to achieve annual increases of 3 percent — a substantial boost from the 2016 annual rate of 1.6 percent.

Such pledges were a frequent theme of Trump's campaign. And they were often coupled with the observation that countries such as China and India have been enjoying fast-paced growth for years.

President Trump's fiscal plan released on Tuesday claims to balance the budget deficit while cutting funding for safety net programs like food stamps and increasing defense spending. Read more about budget' aims.

The Trump budget’s fuzzy math

May 23, 2017

The Trump administration's budget proposal is coming under fire from economists and tax experts who say it uses some math that just doesn't add up. In short, there’s a roving $2 trillion in it that nobody can really explain.

Click the audio player above to hear the full story.

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Mitchell Hartman

The Trump administration’s proposed 2018 budget calls for deep cuts in non-defense discretionary spending, including a 21 percent reduction for the U.S. Department of Agriculture.

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D Gorenstein

In President Trump's budget plan, proposed $1.6 trillion reductions to Medicaid have taken center stage. But tucked into the raft of health care cuts is something that's attracted less attention: cuts for healthcare.gov, the website where about 10 million Americans go to shop for insurance.

Last year, President Obama thought healthcare.gov needed $2.1 billion to run smoothly. This year, Trump thinks it just needs $1.7 billion.

The federal budget released today is pretty much a fantasy document that will be dead on arrival when it gets to Congress, economists say. But even scaled back, proposed budget cuts to Medicaid, food assistance and other programs for the poor are likely to tear a hole in the safety net the likes of which we haven't seen in years. For many nonprofits and advocacy groups, cuts like that are good for nothing but raising awareness and money.

 Click the audio player above to hear the full story.

The Trump administration in its budget proposes to sell off half of the country's strategic reserve of crude oil. The idea is that putting more than 300 million barrels of energy onto the market could raise more than $16 billion over the course of a decade. Proponents note that the oil market is more open, and the U.S. produces more of its own crude than in the 1970s, when the Strategic Petroleum Reserve was created. As for the thinking behind keeping up a big oil stockpile? We are still very much an oil-dependent nation, and our domestic supply doesn’t meet domestic demand.

18: A source familiar with the matter

May 23, 2017
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Kai Ryssdal and Molly Wood

The Trump administration has released its proposed budget, and supply side economics is back on the menu. Plus, Mollie Hemingway of The Federalist recently wrote an article about why readers should be careful with anonymous sources, so we got her on the program to explain.

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