Senate Majority Leader Chuck Schumer described it as "dead on arrival," asSenate Democrats won't agree to the GOP spending cuts. Imports turned up. So you protect those, you end up drawing down more carbon or protecting carbon sources and preserving areas vital for biodiversity. Highlighting the harm of such cuts earlier this year, Biden administration officials predicted more flight delays, slower Social Security checks, reduced college aid for needy students and significant reductions in the number of people served by affordable housing programs, according to letters they sent to Congress earlier this year. No, but I could see contributing to a soup kitchen. IRA FLATOW: So were not thinking a big GoFundMe campaign here. I will keep it going for many, many years. The cookie is a session cookies and is deleted when all the browser windows are closed. Its going to be incredible when thats up. Something that gets great gas mileage and can handle all kinds of terrain. All rights reserved. YSC cookie is set by Youtube and is used to track the views of embedded videos on Youtube pages. Lets begin with some context here. If you look at the James Webb Space Telescope, its only just launched. IRA FLATOW: What was your original goal with this book? And then youll get new ideas, and the thing will start rolling on. 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. We could do loads of observations of dark energy, dark matter. House Republicans would raise the debt ceiling by $1.5 trillion, or suspend it until March 31, 2024, whichever occurs first. It's all about leverage. Yeah. Perhaps I will try to do it now. I'm more likely to offer to do that for someone else who needs it. Put the hurt on dudes in suits! More people, better technology, some costly ingredient or supply? A free game challenges players to try their luck at spending the kooky Tesla boss's $166billion (116billion) fortune in just 30 seconds. 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. Treasury Secretary Janet Yellen told CongresstheU.S.could default on its debtas soon as June5. Do you see yourself buying a lot more gifts for others? By that, I mean finding life outside of our planet. But the Biden administration may run out of options as soon as early June. Bidenpreviously said he will refuse to negotiate with Republicans over their proposal, claiming theplan would hurt "hard-working"peoplethe most. But a trillion dollars? 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. 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. 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. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. Are you interested in purchasing jewelry? In other news, Musk recently claimed that his company SpaceX could landastronauts on the Moonwithin the next three years. 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. Youve mentioned a couple of philanthropists and billionaires. 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 You would have to come up with some pretty crazy ideas to spend that Youll find places where something looks funny, and then you can go and theorize about whats happening. 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. Industry insiders believe the worldwide online sports betting market (which operates mostly from Eastern Asia, which accounts for an estimated 80% of their activity) And I think that would be actually, now I say it, it sounds a bit like Star Trek, doesnt it? 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. You are also agreeing to our Terms of Service and Privacy Policy. , and to daydream about where and how an infusion of cash might do the most to accelerate solutions to some of the planets problems.. Spending your cash your very own way will help us to nail down the best one. 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. I will likely pick up a few pieces here and there. I might try some new recipes with some more exotic ingredients. How to Spend a Trillion Dollars is the ultimate thought experiment but it is also a call to arms: these are all things we could do, if we put our minds to it - and our money. 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. Learn more about recent Gartner press. Oh yeah, I want to try anything that is new and innovative. But opting out of some of these cookies may have an effect on your browsing experience. The nonpartisan Congressional Budget Office said the bill, would cut the budget deficit by $4.8 trillion over 11 years. And can money spur these new ideas about what the universe is made of? Not really. I think we are lonely. The next billion seconds is 31.7 years. It's probably not for me, but I'd love to see others do it. It does not store any personal data. And they only cost in the order of tens of billions of dollars each. Analyzing the GOP proposal, the left-leaning Center on Budget and Policy Priorities predicted that 10 million people in states that have expanded Medicaid coverage are at a significant risk of losing benefits if the bill became law. I'll probably integrate that into my plans somehow. I could use that for a number of things. Invest in quality science journalism by making a donation to Science Friday. Thats the question asked by Rowan Hooper. The next trillion seconds is 317 centuries. IRA FLATOW: Nice to have you. 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. This cookie is set by GDPR Cookie Consent plugin. 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. For other inquiries, Contact Us. To start off with, you won't be able to make any high value purchases in 24 hours, especially in cash. There will definitely be a charity aspect of my new venture. Copyright 2022 Science Friday Initiative. In its own analysis, the CBO found that the new IRS spending would have a significant return on investment, helping to reduce the deficit by $120 billion over the next decade. I say cheap, you know, but to get to Mars, it would take all the trillion, I think. They say theyre going to put in all their fortune of around $60 billion by the time they die into this project. LinkedIn sets this cookie to remember a user's language setting. 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. And I think that might start to move us to a new understanding. I will make some alterations and updates that fit my personal style. A trillion dollars is a million dollars multiplied by a million. Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. 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. IRA FLATOW: And then you say half a trillion to massive biodiversity renewal and carbon drawdown scheme. Hand out moneys to homeowners. This service is provided on News Group Newspapers' Limited's Standard Terms and Conditions in accordance with our Privacy & Cookie Policy. 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. Like the Federation. All rights reserved. And so I think I would, as you said, use half a trillion dollars on projects like that to speed the transition to renewable energy around the world. I might actually start building some custom pieces. 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.If adhered to, the caps would cut about $3.2 trillion from the pool of yearly appropriations to agencies including 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. Nearly all of that debt about $31.38 trillion is subject to the statutory debt limit, leaving just $25 million in unused borrowing capacity. One week after unveiling the so-called Limit, Save, Grow Act, Republicans brought the measure to the House floor and embarked on what proved to be a raucous debate. Are we really cosmically lonely? This cookie is set by GDPR Cookie Consent plugin. Number of No way, that's another terrible investment. House Speaker Kevin McCarthy has unveiled a sweeping package that would raise the nations debt limit by $1.5 trillion into next year. 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. Its a good bill, to be honest with you. Between now and then, the House has 15 days in session. Given that both the CBO and Bidens numbers show trillion-dollar deficits as far as the eye can see, perhaps it is time for the president to find a way to come to the table and discuss how to address this challenge rather than accepting trillion-dollar deficits as the new normal. You couldnt build a solar shield around the planet to deflect sunlight away, because its technologically not possible. Thepresidentproposed his own$6.9 trillion budget in Marchthat included raising taxes on the wealthiest Americans and corporations and expanding social safety net services. Republicans have made no secret about their opposition to the Inflation Reduction Acts investments to fight climate change. 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. 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. IRA FLATOW: I want to explore that a bit more, because you have all kinds of ways to spend the money, but in your conclusion in the end, you narrow down the projects to the most important areas that you think should be recipients of the money. That the ideas havent been coming. We'll assume you're okay with this, but you can opt-out if you wish. AWSALB is an application load balancer cookie set by Amazon Web Services to map the session to the target. I'm sure that I'll bring back some pieces from my travels. Im Ira Flatow. I hope that I will get to collaborate with some amazing new friends. That is exactly what I'm talking about! )3 Also in the spring of 2020, Congress appropriated $3.6 trillion, $1.9 trillion of which had been disbursed by July 2020. Will you make investments in the stock market? 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. Nearly all of If you could get a treaty, get countries signed up into an Earth Fund, you could perhaps start with trying to save the Amazon or the Arctic. The game was created by British car rental firm Leasing Options to demonstrate how outrageously large the entrepreneurs wealth is. House Speaker Kevin McCarthy insists it will be voted on this week, but a narrow House Republican margin leaves no room for error. So, in the context of talking about federal spending, in 2022, the U.S. government spent $6.2 trillion. I might actually take time to write a book. Trillion-dollar deficits: Bidens new normal, It's time for the president to meet Republicans at the negotiating table. The JSESSIONID cookie is used by New Relic to store a session identifier so that New Relic can monitor session counts for an application. Earlier this year, they voted to undo the budget boost, though the legislation has no chance of passage in the Senate. You might not be the type to buy a yacht, but you might splash out on something you've always wanted. I have a lot of artistic projects in mind. in its cuts or it would get watered down. You can even share your results on social media and compare them with your pals'. WebFor 5 million dollars, you can fly a group around the world in a private jet for 25 days multiple times! These cookies will be stored in your browser only with your consent. How much of your money will go to charity? There are so many places to see. 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 New York, NY 10004. Which new hobby would you most likely see yourself taking up? 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. 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. I think a food truck would be right up my alley. The Republican leader The bill would suspend the debt limit until March 31, 2024, or until the Treasury had used $1.5 trillion in borrowing authority, whichever arrived earlier. But Republicans have run into problems as Biden refuses to even discuss the House majoritys proposals. Will you make any upgrades to your current home? So if you think about it as the richest people in the world, its either Jeff Bezos or Elon Musk, and theyve got about $220 billion. If Biden had returned to the 2019 pre-COVID spending levels and rejected the trillions of dollars in excess spending that has characterized his first two years, he could have come much closer to a balanced budget for 2022. The cookie is used to store the user consent for the cookies in the category "Performance". 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. The way you spend your money is completely up to you. I'll probably spruce it up and get it ready to sell for a profit. So they have to be problems that we can fix. There was lots of other cool things Id like to do, like create an interstellar starship. YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. Its like weve had with the International Space Station. That could cost us under a trillion bucks? ROWAN HOOPER: Yeah. Issued by Microsoft's ASP.NET Application, this cookie stores session data during a user's website visit. 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. David Winston is the president of The Winston Group and a longtime adviser to congressional Republicans. Do it right and save the ROWAN HOOPER: Its $1,000 billion. Hit to education:McCarthy budget would slash 60,000 teachers, 'undermine education,' Biden administration says. The GOP debt ceiling legislation would repeal broad swaths of the tax policies meant to cut greenhouse gas emissions and incentivize the deployment of green energy. Even with dozens of private jets in your shopping basket, the total spend hardly makes a dent in Musk's extortionate bank balance. I may hire some guides on my travels. Ever since weve kind of evolved, weve been looking up to the stars and wondering if anything else is out there. VigLink sets this cookie to track the user behaviour and also limit the ads displayed, in order to ensure relevant advertising. 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. It would be fun to see what happens. WebHow To Spend a Trillion Dollars is both original and ingenious. That would be $1.5 trillion more than Trump contributed during his term, which included the 2020 one-time COVID emergency spending. As Science Fridays director and senior producer, Charles Bergquist channels the chaos of a live production studio into something sounding like a radio program. And thats one of your options. I may do a bit of traveling, but it's not my top priority. IRA FLATOW: Yeah, lets focus on clean energy for a moment. It would work better. Used by Yahoo to provide ads, content or analytics. Absolutely. Do you have a story for The Sun Online Tech & Science team? That research has gone into a book, How To Spend A Trillion Dollars, published earlier this year (and in 2022 in the US). I will definitely dress the part of the successful entrepreneur. Absolutely not, they are terrible investments. But if we had our blank check, we could have got a whole load of projects up and running. Do you anticipate that your circle of friends will change? I can't see myself buying anything along these lines. All right, lets talk about where to spend the money, because you have some other ideas. 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. That would prevent a default, but it would ROWAN HOOPER: Yeah, I did. A load balancing cookie set to ensure requests by a client are sent to the same origin server. Here's what to expect if we reach debt limit. We're simply going to observe the choices you make and try to figure you out a little.
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