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Episode Date: June 4, 2025

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Hey, it's Sarah Gonzalez. The economy has been in the news a lot lately. It's kind of always in the news and Planet Money is always here to explain it. Each episode we tell a sometimes quirky, sometimes surprising, always interesting story that helps you better understand the economy. So when you hear something about cryptocurrency or where exactly your taxes go, yes, I was. Listen to the Planet Money podcast from NPR. ago. Yes, I was. Listen to the Planet Money Podcast from NPR. Jack Spear Live from NPR News in Washington, I'm Jack Spear. An independent government agency says a massive tax cut and spending package passed by the House will add trillions of dollars to the national deficit. But NPR's Claudia

Grisale reports Republicans say the plan will result in savings. Claudia Grisale The Congressional Budget Office says Republican spending bill will add another $2.4 trillion to federal deficits. The agency said the biggest driver of that potential new debt is the extension of a tax cut program in the House passed bill now before the Senate. This is a CBO estimates nearly 11 million Americans would lose health insurance as a result of dramatic cuts to Medicaid to pay for the legislation, apparently falling dramatically short of lawmakers' estimates for savings.

The nonpartisan Congressional Budget Office has come under fire in recent days from President Trump and Republicans who claim, without any evidence, the agency is working against them. Claudia Gonzalez, NPR News. The Energy or Education Department is calling into question Columbia University's accreditation and the latest escalation between the Trump administration and elite colleges. More from NPR's Alyson Add warning. The Department of Education's Office of Civil Rights sent a notice to the accrediting body

that audits Columbia University, saying the school is in violation of anti-discrimination laws and therefore fails to meet standards for accreditation. The findings stem from an investigation from February looking into whether the school adequately protected Jewish students on campus. The commission that accredits the school can revoke the university's eligibility for federal funding if it deems that Columbia is not in compliance. Columbia University has not responded to a request for comment. Alyson Adwerney, NPR News. A man has been arrested for his alleged role in last month's bombing at a

fertility clinic in Palm Springs, California. 32-year-old Daniel Park is accused of helping the man authorities say carried out the bombing. Guy Edward Barkis. Barkis was killed in the attack. More from Steve Futterman. According to federal law enforcement officials, Park helped supply Barkis with 270 pounds of ammonia nitrate. That was a key ingredient used in the 1995 Oklahoma City bombings. And according to officials, Park was in possession of a bomb-making formula similar to the one used in that attack. The FBI says Park and Bartkus conducted experiments

together earlier this year, and the two also allegedly share so-called anti-life, pro-mortalist beliefs. Reporter Steve Funderman, even as inflation figures are becoming increasingly important for economists to monitor as the Trump administration continues to push its global trade fight, the Labor Department says it is cutting back on the data on inflation it collects due to a hiring freeze. It says it will stop collecting price data entirely in Lincoln, Nebraska and Provo, Utah. BLS already has stopped collecting data in Buffalo. You're listening to NPR. There's a new number one song in America and it's by a fresh face. NPR's Stephen Thompson has the story. This year, familiar stars like Kendrick Lamar, SZA, and Morgan Wallen have dominated the

top of the Billboard charts. But on the Hot 100 Singles chart, there's a new name at number one. After a four-month rise, Alex Warren has finally topped the chart with Ordinary. With its mix of soaring pop and signifiers of praise music, the uplifting love song tops the chart just in time for the height of wedding season. Ordinary had to leapfrog three songs by country star Morgan Wallen in order to hit number one. Wallen's new record, I'm the Problem, tops the album chart for a second straight week.

Stephen Thompson, NPR News. One of the most restrictive laws in the nation that would ban young children from having social media accounts is on hold for the moment. Federal judge barring the state of Florida from putting the measure fully in place while legal challenges play out. The measure was one of the most restrictive bans on kids social media use in the country when it was first signed into law in 2024 by Florida Governor Ron DeSantis. It would ban social media accounts for children under the age of 14 and would require parental permission for 14 and 15 year olds to have those accounts. Critical futures prices after moving higher briefly turned in the other

direction later in the day. Oil prices falling after new numbers showed a large buildup of gas and diesel inventories. Oil dropped 56 cents a barrel to 62.85 a barrel. I'm Jack Spear, NPR News in Washington.