Every weekday on Marketplace, Kai Ryssdal hosts a lively and unexpected exploration of the day’s business and economic news from Wall Street to your wallet.
On Air Force One today, somewhere between D.C. and Naples, Florida, President Trump took credit for the country's economic strength and gave an update on his tax plan. We'll check a few of his claims, in particular that the plan is "revenue neutral" with faster economic growth. Then we'll head back to Florida, which is picking up the pieces after being battered by Hurricane Irma this week. But it's been especially tough for Floridians to get their claims processed — because all the insurance adjusters are still in Houston. Then: you might know Manolo Blahnik the shoes, but Blahnik is also a man, and he's the subject of a new film. We'll talk with the director.
The timeline for tax cuts and tax reform — one of the big things both Hill and White House Republicans say they want to get done this year — has been flexible, but today House Speaker Paul Ryan said we'll see an outline the week of the 25th. Now, plenty of lawmakers are starting to talk about their vision for taxes, so let's start with Ted Cruz: He wants to file on a postcard, with a flat tax and something called "full and immediate expensing." What's that mean? We'll talk about it. Then: In the wake of Harvey and Irma, the so-called catastrophic bond market's been on a wild ride. We'll talk about what that means. Plus: Dolores Huerta co-founded the United Farm Workers with Cesar Chavez in 1962, and she coined the slogan "Si, se puede." You might know it as "Yes, we can" from Obama's 2008 campaign. Carlos Santana and Peter Bratt made a documentary about Huerta and her "riches to rags" story, and we'll talk with them about it.
We say it a lot in our show: context matters. Doing the numbers doesn't do you much good without knowing the bigger picture. To wit: The official poverty rate in this country dropped a full percentage point last year, according to the U.S. Census Bureau, putting 12.7 percent of Americans under the poverty line. Also, median household income rose a about 3 percent to about $59,000 a year. We'll start out today's show by talking about what that means. Then: We talked yesterday about all the memorials to victims of mass violence being built and financed in this country. Today, we'll take a look at what goes into maintaining them. Plus: Globalization gets a bad rap in the States, but what about emerging economies? They're seeing the benefits and starting to catch up.
Millions of Floridians are still out of their homes in the wake of Hurricane Irma. Much of state is without power, and early damage estimates range from $25 billion to $60 billion. We'll look at how officials start to tally that up, and the lasting problems Floridians face. Then: Since it opened in 2011, more than 30 million people have visited New York's 9/11 memorial. It's maybe the highest-profile memorial to victims of mass violence in this country, but there are plenty of others and more planned in Orlando, Charleston and elsewhere. But the process of designing and financing these memorials isn't easy. Plus, we'll talk with San Diego, California, mayor Kevin Faulconer about NAFTA as negotiations continue.
As Hurricane Irma bears down on Florida, it seems possible that in the worst-case scenario this storm could top $1 trillion in damage, to say nothing of the lives at risk. We'll look at what insurers are watching and how it compares to Harvey, plus the way private companies mobilize to provide disaster relief. Then: Everything you need to know about the massive data breach at Equifax. Finally, as we do every week, we'll wrap up a very odd five days of news.
You could look at the deal President Trump made with leading Congressional Democrats yesterday as a sort of butterfly effect situation; A seemingly trivial act that massively alters the country's future. As we broadcast today, a bill just passed the Senate with both the first dose of Hurricane Harvey relief money and government funding for the next three months while raising the debt limit. Those last two were going to suck up a lot of energy later this month. The House still has to vote on it, but it's a big deal, and Congressional Republicans are left trying to figure out what it all means for their economic agenda. Then: With the Gulf Coast picking up the pieces after Harvey, and Hurricane Irma bearing down on millions more, we'll take a long at the years-long recovery process after a natural disaster. Plus: What city will land Amazon's second headquarters?