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cover of episode US $1.8 Trillion Deficit Keeps Growing & HBO Doc Reveals Bitcoin Creator?

US $1.8 Trillion Deficit Keeps Growing & HBO Doc Reveals Bitcoin Creator?

2024/10/9
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The US government's deficit hit $1.8 trillion, mainly due to increased spending on programs for older Americans and higher interest payments. This is concerning as it's happening during a period of economic growth, unlike previous large deficits during wars or recessions. Both presidential candidates have spending plans that could further increase the deficit, making it unlikely to shrink soon.
  • The US deficit reached $1.8 trillion, the largest in three years.
  • Increased spending on Social Security, Medicare, and higher interest payments contributed to the deficit.
  • Interest payments alone exceeded the Pentagon's budget.
  • The current deficit is high despite a strong economy, unlike previous large deficits that occurred during times of crisis.
  • Both presidential candidates' plans could add trillions to the national debt.

Shownotes Transcript

Episode 427: Neal and Toby explain how the Federal Deficit hit $1.8 trillion. Then, two pioneers in AI received the Nobel Prize in physics for their groundbreaking work in building the technology as we know it today. Next, short sellers are accusing Roblox of inflating their user metrics and woefully allowing disturbing content on its platform that violate child safety laws. Plus, an HBO documentary promises to reveal the identity of Bitcoin’s inventor. Something others that have tried but failed. Is this the real deal? Meanwhile, Uber has launched a slew of products that allow riders to hail EV-only cars and take a shuttle from Manhattan to LaGuardia Airport for only $18. Lastly, the popular Halloween chain, Spirit Halloween, is expanding into the white Winter Wonderland with a new store, Spirit Christmas. 

00:00 - Hurricane Milton update

2:45 - US deficit hits $1.8T

8:10 - Godfather of AI gets a Nobel Prize

12:00 - Roblox is hot water

18:00 - Will the real Bitcoin inventor please stand up?

22:10 - Cheap rides from NYC to LGA?

26:00 - Spirit Halloween turns to Spirit Christmas

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