Tangle - Biden's 2025 budget proposal.

Episode Date: March 13, 2024

Biden's budget proposal. On Tuesday, President Joe Biden released a $7.3 trillion budget proposal for 2025, which if enacted would raise taxes on the wealthy and large corporations, lower the cost...s of prescription drugs and housing, and trim the deficit.You can read today's podcast ⁠⁠here⁠⁠, our “Under the Radar” story here and today’s “Have a nice day” story here.You can also check out our latest YouTube video where we tried to build the most electable president ever here and our interview with Bill O’Reilly here.Today’s clickables: Trailer release (0:43), Quick hits (5:03), Today’s story (7:03), Left’s take (10:58), Right’s take (14:42), Isaac’s take (18:10), Listener question (22:05), Under the Radar (25:00), Numbers (26:24), Have a nice day (27:24)You can subscribe to Tangle by clicking here or drop something in our tip jar by clicking here. Good news and bad news, everyone: Our New York City event sold out over the weekend! That's good news for us and for everyone who bought their tickets early, and bad news for everyone else who wanted to go. But we talked to the venue and were able to release some more tickets to make sure we got as many members of the Tangle community in the door as possible. So, more good news: There are a couple dozen more seats available. They're going to go fast, so get your tickets now!While we're on the topic, I'm thrilled to announce two of our guests for the event. We'll be joined on stage by Katrina vanden Heuvel, the longtime editorial director at the progressive magazine The Nation, and Josh Hammer, the biting conservative columnist who is now a senior editor-at-large at Newsweek.Buy your tickets hereWhat do you think should be the priorities of the Biden administration’s budget? Let us know!Our podcast is written by Isaac Saul and edited and engineered by Jon Lall. Music for the podcast was produced by Diet 75. Our newsletter is edited by Managing Editor Ari Weitzman, Will Kaback, Bailey Saul, Sean Brady, and produced in conjunction with Tangle’s social media manager Magdalena Bokowa, who also created our logo.--- Send in a voice message: https://podcasters.spotify.com/pod/show/tanglenews/message Hosted on Acast. See acast.com/privacy for more information.

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Starting point is 00:00:00 Based on Charles Yu's award-winning book, Interior Chinatown follows the story of Willis Wu, a background character trapped in a police procedural who dreams about a world beyond Chinatown. When he inadvertently becomes a witness to a crime, Willis begins to unravel a criminal web, his family's buried history, and what it feels like to be in the spotlight.
Starting point is 00:00:19 Interior Chinatown is streaming November 19th, only on Disney+. Breaking news happens anywhere, anytime. Police have warned the protesters repeatedly, get back. CBC News brings the story to you as it happens. Hundreds of wildfires are burning. Be the first to know what's going on and what that means for you and for Canadians. This situation has changed very quickly.
Starting point is 00:00:44 Helping make sense of the world when it matters most. Stay in the know. CBC News. The flu remains a serious disease. Last season, over 102,000 influenza cases have been reported across Canada, which is nearly double the historic average of 52,000 cases. What can you do this flu season? Talk to
Starting point is 00:01:05 your pharmacist or doctor about getting a flu shot. Consider FluCellVax Quad and help protect yourself from the flu. It's the first cell-based flu vaccine authorized in Canada for ages six months and older, and it may be available for free in your province. Side effects and allergic reactions can occur, and 100% protection is not guaranteed. Learn more at flucellvax.ca. From executive producer Isaac Saul, this is Tangle. Good morning, good afternoon, and good evening, and welcome to the Tangle Podcast, a place we get views from across the political spectrum, some independent thinking, and a little bit of my take. I'm your host, Isaac Saul, and I have something special for you guys today. For all you loyal podcast listeners who have been tuning in to this show for several years,
Starting point is 00:02:10 we are doing something new that's coming out on Sunday. It is our first ever Tangle Podcast Limited series. This is a Tangle Media production. We have not told anybody about this. We have not released this yet. It has been in the works for some time, but I wanted to share it with you guys, the podcast listeners first. So this is coming straight to you before we even put it in the newsletter or put it up on the website. It is a trailer for an upcoming series that we're going to debut on Sunday. And yeah, without further ado, here it is. 2024 will be one of the most consequential elections of our lifetime.
Starting point is 00:03:06 From the economy to immigration, abortion rights to foreign policy, the next chapter of our democracy will be written in November, and the stakes have never been higher. The deep divide between Democrats and Republicans has been reinforced by relentlessly partisan media coverage. What is talked about, much less, is just how many voters don't have their minds made up. One poll from September suggested one in four Americans don't know who they're going to vote for in November. It's safe to say that there are millions
Starting point is 00:03:37 of voters unsure about where they're going to cast their ballot, and collectively, they will determine the outcome of this election. How will they decide? This year, we will follow the journeys of five voters from Florida, Ohio, California, Arizona, and Pennsylvania, handpicked by the team at Tangle, as they navigate through fact and misinformation. We'll find out what issues really matter to them, what their values are, and ultimately, who will earn their vote. Tangle Media presents The Undecideds, a limited podcast series leading up to the 2024 presidential election, launching in March. All right, you got that?
Starting point is 00:04:33 The Undecideds. I'm really excited for this. I got to listen to a first cut of episode one, and I didn't do all of these interviews. I didn't do any of them, actually. The Tangle team is very involved in this. So John Magdalena, Ari Will, and they conducted some of these interviews with the undecided voters we're following. And so I got to listen to it as a listener, even though I'm kind of hosting the show also. And it's fascinating. It's just, it's fascinating to hear how people talk about this political moment and how they're trying to make up their minds. And the best part is I don't know what's going to happen. You know, I don't know how the show ends. I don't know where it's going because we've only recorded one episode. We're going to do this in real time as the election
Starting point is 00:05:20 unfolds. So I'm going to get to be along for the journey, just like you guys. And yeah, I'm really proud that we came up with this concept and I'm super excited to pull it off and see where this goes. Cause I don't know what these voters are going to do and I don't know what's going to happen in this election. So I hope you guys will check it out. We are going to launch the first episode on our channel, this channel, the Tangle Podcast channel, but then we are going to create a whole other separate channel for the show so you can subscribe and follow along there. So I'll be pushing you to do that over the next few months. We'll make sure you know when new episodes are coming out. It's going to be a few weeks between each episode and we're going to release them all the way up to the election and then
Starting point is 00:06:05 through the election, because I'm going to want to talk to everybody after we get the results, which should be really interesting. So yeah, The Undecideds coming on Sunday, this Sunday, the debut episode right here on the Tangle Podcast channel. Super pumped for that. All right, with that out of the way, we're going to jump in with some quick hits. First up, President Joe Biden and former President Donald Trump officially clinched enough delegates to win their parties' respective nominations, setting up the first presidential rematch since 1965. The election is now 237 days away. Number two, in testimony before Congress on Tuesday, Special Counsel Robert Herr defended his decision not to prosecute President Biden and his characterization of Biden as a well-meaning elderly man with a poor
Starting point is 00:06:59 memory. Number three, Representative Ken Buck, the Republican from Ohio, announced he will resign next week, further narrowing Republicans' thin House majority. Number four, the House of Representatives will vote today on a bill that would force a sale of TikTok or Ban It from the U.S. app stores. And number five, the Biden administration announced a new $300 million aid package for Ukraine on Tuesday, while a larger package for Ukraine is still stalled in Congress. Tonight in Battleground, Pennsylvania, President Biden unveiling his sweeping budget proposal, calling for major tax hikes on the wealthy and increased spending. President Biden unveiled his administration's $6.8 trillion budget proposal for the 2024 fiscal year in Philadelphia yesterday. He claims it'll reduce the deficit, bolster military spending,
Starting point is 00:07:59 and ramp up competition with China, though with a Republican-controlled House, it might be dead on arrival. The White House proposal calls for raising taxes on the wealthiest Americans to invest in the working class. My budget is about investing in America and all of America, including places and people and folks who've been forgotten. Amid the economic upheaval of the past four decades, too many people have been left behind or treated like they're invisible. Not anymore. I promise you, I see you. On Tuesday, President Joe Biden released a $7.3 trillion budget proposal for 2025, which, if enacted, would raise taxes on the wealthy and large corporations, lower the cost of prescription drugs and housing, and trim the deficit. A quick reminder, budget proposals are aspirational and are rarely enacted in full. This one is very similar to the budget Biden proposed last year, which didn't go anywhere
Starting point is 00:08:55 in Congress. Administrations typically release their budget proposals as a mission statement for their plans for the upcoming year, and then begin selling their plan to the public while whipping votes in Congress in an effort to get legislation enacted to meet their budget. With Republicans in control of the House and a divided Senate, this proposal, which sets spending and revenue plans for a decade, is unlikely to become law. But Biden is expected to make it a cornerstone of his 2025 campaign. So what does it do? Well, among other things, Biden's budget calls for the following. It raises an additional $4.9 trillion from taxing the wealthy in corporations, an increase of about 7%. It cuts the deficit by $3 trillion over the next decade using a combination
Starting point is 00:09:38 of taxes on the wealthy in corporations, along with allowing the government to more aggressively negotiate prescription drug prices. It spends $895 billion on military programs in the upcoming fiscal year, up from $886 billion this year. It lowers taxes for anyone making less than $400,000 per year by $765 billion over a decade. It raises the corporate tax rate from 21% to 28%, reversing cuts from the Trump-era Tax Cuts and Jobs Act. It quadruples the 1% tax on stock buybacks introduced in 2023. It requires billionaires to pay at least 25% of their income taxes. It increases the highest individual income tax rate to 39.6%. It expands the earned income tax credit to workers with incomes below $64,000 annually to include more taxpayers without children. It guarantees subsidized child care for families making less than $200,000 per year. It creates
Starting point is 00:10:38 voluntary free preschool for all four-year-olds. It builds or preserves more than 2 million housing units. It offers a $10,000 tax credit to first-time homebuyers and current homeowners to help offset the cost of purchasing a home. It expands the number of drugs subject to price negotiation under Medicare from 20 a year to a maximum of 50. It includes a $4.7 billion emergency fund for border security in the event of a migrant surge, and it reinstates the expanded child tax credit through 2025. While there is a lot inside the proposal, there are also some notable absences.
Starting point is 00:11:13 It does ensure the solvency of Medicare by increasing taxes on wages, investment gains, and self-employment income of earners making over $400,000 per year, but it only lists some ideas for shoring up Social Security without detailing a specific plan. It calls for extending tax cuts passed by President Trump for most households but does not specify how it will pay for them. And while it calls for expanding the child tax credit, it does not factor in its costs past 2025. Even if the plan were followed to the letter, the administration's own estimates would push the federal revenue as a share of the economy to 20%, a level reached only once in U.S. history
Starting point is 00:11:51 during World War II. The U.S. would still have historically high budget deficits, averaging about $1.6 trillion per year. The budget also assumes that inflation will fall to the Federal Reserve's target of 2% by 2025, while interest rates stay elevated for several years. Today, we're going to examine some arguments about the budget from the left and the right, and then my take. We'll be right back after this quick commercial break. We'll be right back after this quick commercial break. First up, we'll start with what the left is saying. The left thinks Biden is smart to tailor his budget toward political issues that are favorable for Democrats. Some say the Biden plan is preferable to Trump's but still falls short of being fiscally responsible.
Starting point is 00:12:42 Others critique the proposal's increased military spending. In The New Yorker, John Cassidy called Biden's proposal an explicitly redistributive budget for an election year. The key political takeaway is that the White House is determined to frame the upcoming contest between Biden and Donald Trump as a choice between a Democrat fighting for the American middle class and a Republican stooge for the plutocracy, Cassidy said. In economic terms, the budget amounts to an effort to expand the social safety net and simultaneously reduce the federal deficit by raising tax obligations for the richest 2% of American households, and particularly the very, very wealthy, who have prospered greatly in the past few decades. The budget contains a number of different proposals to roll back elements of the 2017 Republican tax cuts, many of which are due to expire at the end
Starting point is 00:13:30 of 2025, Cassidy added. These measures would be accompanied by others designed to raise taxes on big businesses and high earners. The Biden campaign would be delighted to spend the next eight months debating whether the economic priority should be expanding the federal tax base by forcing the top one or two percent of households to pay more, as Biden has suggested, or cutting entitlement spending and preserving the tax cuts for the rich. The Washington Post editorial board said Biden's budget is a lot more realistic than Trump's. President Biden's fiscal 2025 tax and spending blueprint is more of a political statement than an actual legislative proposal. Basically, it's a re-election pitch straight from the middle-class Joe playbook he ran on in 2020. Raise taxes on the rich and businesses and spend much of the proceeds on
Starting point is 00:14:15 federal support for child care, health care, and housing, the board said. These traditional Democratic priorities failed to become law even when Mr. Biden's party narrowly controlled Congress, so there is zero chance of enactment now. Considered differently, however, as a reminder of how another four years of Mr. Biden in the White House would be unlike a second term for likely GOP nominee Donald Trump, the document has somewhat more meaning, the board said. Mr. Biden's tax plan would be fairer and more fiscally responsible than Mr. Trump's. The longer version is, despite this reality, the country needs a reckoning on its unsustainable budgetary path, and Mr. Biden's proposal, though better than the alternative, do not envisage one. For the National Priorities Project, Lindsay Kashgarian criticized that militarized funding in the Biden budget totals well over $1 trillion. According to the administration's
Starting point is 00:15:06 figures, militarized funding in the proposal totals $1.1 trillion for fiscal year 2025, she wrote. That's not all the militarism in the budget. In reality, the spending on militarization in this budget is even higher. These figures, which come from the administration, treat the militarization of domestic law enforcement, things like the domestic work of the FBI, federal marshals, and grants to local law enforcement agencies, as domestic expenses. And it doesn't include war spending. Just as important, the proposal includes only $12 billion for direct international military aid and nothing for the Pentagon's operations in support of various wars. That's highly unrealistic given current administration policies, Kashgarian said. Unless the administration changes the approach,
Starting point is 00:15:49 these wars will continue to cost us. The administration hasn't been making visible efforts to end the war in Ukraine, nor has it responded to demands that it withhold military aid to Israel. There's not enough left for the programs we need. All right, that is it for what the left is saying, which brings us to what the right is saying. The right is broadly critical of the budget, questioning the necessity of higher levels of government spending. Some push back on Biden's strategy of raising taxes to boost government revenues. Others note contradictions between how the White House is describing the bill and what it contains. Based on Charles Yu's award-winning book, Interior Chinatown follows the story of Willis Wu,
Starting point is 00:16:38 a background character trapped in a police procedural who dreams about a world beyond Chinatown. When he inadvertently becomes a witness to a crime, Willis begins to unravel a criminal web, his family's buried history, and what it feels like to be in the spotlight. Interior Chinatown is streaming November 19th, only on Disney+. The flu remains a serious disease.
Starting point is 00:16:57 Last season, over 102,000 influenza cases have been reported across Canada, which is nearly double the historic average of 52,000 cases. What can you do this flu season? Talk to your pharmacist or doctor about getting a flu shot. Thank you. province. Side effects and allergic reactions can occur and 100% protection is not guaranteed. Learn more at flucellvax.ca. In National Review, Dominic Pino asked, if the economy is so great, why does Biden want another huge budget deficit next year? Why is federal spending continuing to increase after the pandemic is over?
Starting point is 00:17:48 There was a reasonable economic argument to run a deficit during the pandemic to make up for government-imposed measures that kept people from working. But the U.S. spent far more on the pandemic relief than most other countries. And now, years after those excuses might have made sense, spending has not receded, Pino said. There's one relatively straightforward answer here. It's an election year. Another explanation, though, could be that the Biden administration might believe that part of the reason for U.S. overperformance during the COVID recovery was the massive government spending that the U.S. did, which was more than in other countries, Pino said. That can produce good-looking numbers in the short term, but if the growth is largely due to government spending, then government spending needs to continue for the growth to continue. Economies that are actually thriving don't need a federal government spending $1.8 trillion more than it is
Starting point is 00:18:29 taking in. In red state, Mike Miller said Biden absurdly believes he can spend America to prosperity. Biden is predictably calling for $5.5 trillion in massive tax increases by raising rates on the wealthy and corporations while driving up spending on federal benefits programs, affordable housing, and student loan cancellation, transference of contractual debt to taxpayers, among other so-called progressive schemes, Miller said. In other words, the same old Democrat tax and spend policy. Before we continue, ask yourself this question. Can you think of a single country or government that has spent its way to prosperity? As Democrats are wont to do after the absurd proposal goes down in flames in the House, they will scream bloody murder and accuse the heartless Republicans, including Donald
Starting point is 00:19:14 Trump, of course, of all kinds of horrible things, Miller said. Democrats don't give a damn about facts, particularly facts that don't play into their hands. They never have. What they very much give a damn about is lying to low-information rank-and-file Democrat voters who buy everything they sell without question or hesitation. In Reason, Eric Boom criticized the White House for claiming that borrowing $16 trillion over the next decade is fiscally responsible. Possibly the craziest detail is the fact that the White House is trying to frame all of that as being an exercise in fiscal restraint. No, really. In a fact sheet released alongside the budget, the White House touted how the proposal would cut the deficit by $3 trillion
Starting point is 00:19:54 over the next 10 years, Boehm wrote. Someone in the White House might want to Google what the phrase paid for actually means, because Biden's budget assumes the federal government will keep borrowing at near-record levels for the next decade. So what about that $3 trillion reduction in deficits that the White House is promising? That number is the result of comparing Biden's 10-year budget plan against the current baseline projections for deficits. It doesn't mean the debt will fall or even stop rising. We'd have to run a surplus for that to happen. It only means that if enacted, Biden's plan would result in the national debt being $3 trillion lower in a decade than what's currently projected. Alright, that is it for the left and the right are saying, which brings us to my take.
Starting point is 00:20:45 So, there are very few surprises here. The biggest problem is really what the budget does not say. For instance, when I think about where I want my tax dollars to go, eliminating child poverty or helping make child care more affordable is something I'm comfortable with. If the federal government's going to take 30% of my paycheck, I'll sleep easier knowing that it might help an impoverished family pay their bills or feed their kids or even encourage them to have kids in the first place. I also think this is good politics for Biden to emphasize those kinds of things. Given that, I'm partial to the expanded child tax credit, which at first glance I was happy to see back in the bill. But then, I realized Biden is only including it
Starting point is 00:21:25 for 2025 and does not factor in any plan to cover the cost of extending it beyond that. That's the kind of red flag on a budget proposal that makes it hard to know if any of the numbers are meaningful. Similarly, I think there's a strong case that we should be aiming to trim the federal budget, not expand it. We had an explosion of government spending after the pandemic, and I think there was good explosion of government spending after the pandemic, and I think there was good reason to justify it at the time, but we are no longer living in that world. If Biden wants to emphasize the strength of the economy, he should use that strength to make the case for trimming back spending to pre-COVID levels. At the very least, he should have a plan for shoring up Social Security, which is barreling toward insolvency and is one of the
Starting point is 00:22:03 primary drivers of our deficit and debt. But the budget proposal pushes federal spending further and doesn't meaningfully address Social Security. I've made the case that the only way to reduce the federal debt and deficit is to have a plan not only for Social Security and Medicare, but also for reducing military spending. I'm pragmatic enough to understand that this is not the year that is going to happen. With conflicts in Ukraine and Israel and all the tension in the South China Sea, there's very little chance military spending is going to stay flat, and basically zero chance it'll be cut. But again, we are in a strong economic moment, and if Biden is going to run on that economy, he should take that opportunity to clean up the balance sheets. I'd love to see
Starting point is 00:22:44 him pairing language with reforms around Social Security and Medicare to cause for cleaning up the military bloat and waste that is emblematic of the federal government as a whole. Instead, he seems to be holding the status quo on the military and casting any suggestion of entitlement reform as a Republican attack. To be honest, the politics of this budget makes sense to me. Biden wants to run on taxing the wealthy and cutting taxes for the middle class, on making it easier to afford kids or own a home while beefing up the military to keep us safe, and on lowering the price of prescription drugs and forcing corporations to pay their fair share. I've got doubts about corporate tax hikes, but I can get on board with making it a little more expensive to earn over $400,000 per year,
Starting point is 00:23:24 perhaps because I, like most voters, have never come close to making that much money. That's all fine and good politically, but those things are easy to say. They're much harder to pull off in the confines of a responsible budget. I genuinely believe that we are in a perilous moment with our debt and deficit, and I don't see anything in this budget that is new, innovative, or helpful in the kind of way we'll need to get out of it. Even with all of Biden's assumptions about the economy continuing to grow, unemployment rates staying low, and inflation continuing to dissipate, we'll still be hitting budget deficits of $1.6 trillion a year. By the administration's own projections, debt will be 106% of GDP by 2034 and total $45.1 trillion.
Starting point is 00:24:08 That such a plan actually represents a better path forward than the one we are on now is not a positive message about this plan. It's an indictment of where we are. As nice as Biden's budget sounds in theory, the numbers just aren't reassuring. aren't reassuring. We'll be right back after this quick break. All right, that is it for my take, which brings us to your questions answered. This one is a note to ourselves from March 3rd, 2023. We said to revisit what is the aftermath of the train derailment in East Palestine, Ohio in February of 2023. So every once in a while, we cover a story that garners a lot of media attention and has a large and localized impact. But then the national
Starting point is 00:24:58 news media moves on and the affected area is still left recovering. When that happens, we like to look back later to report on the aftermath when the cameras have all left town. We actually did this recently when talking about the recovery effort in Maui, and we're going to do it today when talking about the recovery effort in East Palestine, Ohio. As a reminder, on February 3rd, 2023, a train operated by Norfolk Southern derailed in East Palestine, a town of roughly 4,700 people, just 50 miles northwest of Pittsburgh in Ohio. 38 cars were derailed, 11 of which were carrying hazardous chemicals. This is what we've reported in our initial coverage. In the immediate aftermath of the first fire and the controlled burn, there were some obvious and indisputable environmental issues.
Starting point is 00:25:40 The initial spill killed an estimated 3,500 fish as of February 8th. On top of that, the EPA said materials released during the incident were observed and detected in samples from Sulphur Run, Leslie Run, Bull Creek, North Fork Little Beaver Creek, and the Ohio River. Those waterways serve millions of people downstream. Some towns as far away as West Virginia immediately responded by increasing testing of their water. The Ohio EPA and other state and local organizations have continued to test the water, saying it is safe, end quote. Unlike the wildfire recovery efforts in Hawaii, where there were measurably affected land area, visibly burned homes, numbers of missing and quantifiable
Starting point is 00:26:21 financial recovery efforts, the situation in East Palestine is much more nebulous. The Environmental Protection Agency has started a process to review vinyl chloride, which is already a known carcinogen, for a possible ban, a process that could take years. Both the EPA and Norfolk Southern have conducted tests of drinking water in the area and determined that it is safe for consumption, but many residents still don't trust the water. Anecdotally, there are reports since the crash of people having their periods stopped, developing epilepsy, and contracting laryngitis, as well as new incidents of chronic asthma and nosebleeds. Because of the unique combination of chemicals people were exposed to and the relatively short time frame since the crash, there are no conclusive findings about health
Starting point is 00:27:03 exposures yet. The government response has been to monitor air and water samples, deploy a task force to respond to airborne toxic substance exposure, and attempt to improve rail safety. For a more personal look at how residents of East Palestine are responding, Alejandro de la Garza published this excellent and thorough piece in Time Magazine, which there is a link to in today's episode description. All right, that is it for your questions answered. And a quick bit of breaking news here that's happening while the podcast is being recorded. In our quick hits, we mentioned that there was going to be a vote on banning TikTok. Well, the House of Representatives just voted 352 to 65 to 1 in favor of a bill that would force a sale of TikTok or ban it from U.S. app stores. So that bill is now headed to the Senate. It has officially passed the House of
Starting point is 00:27:58 Representatives. That just came across our desk. Pretty rare thing here at Tangle, but wanted to make sure you guys listening to the podcast know that. All right, and next up is our under the radar section. Democrats' advantage with non-white voters is shrinking to its lowest levels in decades, new polling data shows. For years, Democrats have been able to rely on Black, Latino, and Asian American voters to cast ballots for them. But younger generations don't have the deep ties to the civil rights movement that many older voters of color do, and the gap between party support has now narrowed. Nearly 20% of Black voters now say they lean Republican, while 35% of Hispanic voters say they do. In March, a New York Times poll found that Biden had a 56-44 lead with non-white Americans over Trump,
Starting point is 00:28:41 despite winning that group by almost 50 points in 2020. Axios has the story and there's a link to it in today's episode description. All right, next up is our numbers section. The year the Budget and Accounting Act was passed, requiring the president to submit an annual comprehensive budget proposal to Congress, was 1921. The percentage of Americans who said the U.S. government is spending too much in a March 2023 poll from APNORC was 60%. The percentage of Americans who said they approve of the way President Biden is handling the federal budget is 34%. The percentage of Americans who said the U.S. is spending too little on education is 65%, while the percentage of Americans who said the U.S. is spending too little on education is 65%, while the percentage of Americans who said the U.S. is spending too little on the military is 35%. The GDP deficit projected for 2025 in
Starting point is 00:29:31 Biden's budget is 6.1%. That's wider than the deficit run by the U.S. in any year between 1962 and 2019. The GDP deficit projected for 2034 in Biden's budget was 3.9%, which is higher than it was in any year from 1993 to 2007. All right, and last but not least, our have a nice day section. An elite ski resort called the Yellowstone Club just became the first ski area in Montana to adopt a unique solution to help preserve its attractiveness during a dry winter, turn wastewater into snow. It may seem unsettling at first, but resort officials and local conservation groups say the water reclamation project is both safe and beneficial to the environment. The benefits of this project are actually an enhancement to the
Starting point is 00:30:19 watershed functions, said Pat Byarth, a Montana water director for Trout Unlimited. It's an enhancement to water supply, to water quality in the basin. So everybody from steers to anglers will benefit from this, and downstream, agriculture benefits at a time where water supply is uncertain. Reasons to be cheerful has the story, and there's a link to it in today's episode description. All right, everybody, that is it for today's podcast. As always, if you want to support our work, you can go to readtangle.com forward slash membership. And don't forget, something new coming out this Sunday. Hope you guys enjoyed the trailer. We'll be back here tomorrow. Same time, different voice. I'm headed to Austin, Texas, South by Southwest down there this week. Also, my best friend's bachelor party this weekend.
Starting point is 00:31:06 So I'm going to be on the road and John's going to be tagging in on the podcast because my flight is tomorrow morning. I'll be here working as usual though. And if you've got any recs for Austin, feel free to reach out. Isaac, I-S-A-A-C at retangle.com. Have a good one.
Starting point is 00:31:24 Peace. Isaac, I-S-A-A-C at readtangle.com. Have a good one. Peace. Our podcast is written by me, Isaac Saul, and edited and engineered by John Wall. The script is edited by our managing editor, Ari Weitzman, Will Kabak, Bailey Saul, and Sean Brady. The logo for our podcast was designed by Magdalena Bokova,
Starting point is 00:31:42 who is also our social media manager. Music for the podcast was produced by Diet75. If you're looking for more from Tangle, please go to readtangle.com and check out our website. We'll see you next time. a crime, Willis begins to unravel a criminal web, his family's buried history, and what it feels like to be in the spotlight. Interior Chinatown is streaming November 19th, only on Disney+. The flu remains a serious disease. Last season, over 102,000 influenza cases have been reported across Canada, which is nearly double the historic average of 52,000 cases. What can you do this flu season? Talk to your pharmacist or doctor about getting a flu shot. Consider FluCellVax Quad and help protect yourself from the flu. It's the first cell-based flu vaccine authorized in Canada for ages six months and older, and it may be available for free in your
Starting point is 00:32:55 province. Side effects and allergic reactions can occur, and 100% protection is not guaranteed. Learn more at FluCelvax.ca. array of benefits, including priority check-in and boarding, and access to nearly 700 premium airport lounges around the world. Discover more at oneworld.com. Tons of conditions apply.

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