A cookie set by YouTube to measure bandwidth that determines whether the user gets the new or old player interface. It does not store any personal data. I'm going to buy a lot more clothes from all the places I'm going to visit. IRA FLATOW: An idea you have is called second genesis, to develop a machine with human-level intelligence, a machine you would agree is as conscious as you and me. IRA FLATOW: Rowan, we could all use a little bit of optimism these days. 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. You also have the option to opt-out of these cookies. But it makes it more equitable. That is not something that I'm really interested in doing. During Bidens first two years in office, he oversaw spending that was 40 percent higher than the pre-COVID 2019 budget. There are some travel books that I'll want to pick up. This cookie is managed by Amazon Web Services and is used for load balancing. How likely are you to make updates to your landscaping? House Republicans on Wednesday approved a bill to raise the debt ceiling into next year, slash federal spending by billions of dollars and unwind some of President Bidens priorities and recent legislative accomplishments, including his program to cancel college student debt. Norman was one of a group of House Republicans who voted against McCarthy becoming speaker until he agreed to a list of their policy demands. It's probably not for me, but I'd love to see others do it. The Sun website is regulated by the Independent Press Standards Organisation (IPSO), Our journalists strive for accuracy but on occasion we make mistakes. 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 And then I just started thinking, you know, there is a lot of money out there. in its cuts or it would get watered down. Oh yeah, I want to try anything that is new and innovative. How much of your money will go to charity? Part of HuffPost Politics. I probably won't, but I will definitely support those who are passionate about green technology. A group of ethanol proponents was reportedly, upset with the bills cancellation of many green tax breaks. But before I do that let me provide a bit of context to the scale of the numbers being discussed, as billions and trillions are huge numbers. This cookie is set by the provider Akamai Bot Manager. Publisher: Profile Books Ltd. ISBN: 9781788163453. , and to daydream about where and how an infusion of cash might do the most to accelerate solutions to some of the planets problems.. 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. In January, he became the wealthiest man on the planet after Teslas unrelenting shares surged almost 750 per cent. I expect that I will be mingling with much more influential people. So by 2030, theres $7 trillion in unpaid tax in the US. And they have to be ones that we can do right now, effectively, but that money is the thing thats been holding us back. The GOP bill targets at least some of the $80 billion set aside to improve the Internal Revenue Service and help the government pursue unpaid taxes. Massie has a deep libertarian streak and has taken to wearing a digital counter in his jacket pocket that tracks the national debt. When the day began, Republicans had hoped for a smooth process in which the bill would go through the Rules Committee on Tuesday and be on the floor Wednesday. About 275,000 people, on average, would lose eligibility for food assistance through the Supplemental Nutrition Assistance Program each month, and 19,000 more would see their benefits reduced, the CBO said. Here's what to expect if we reach debt limit. Others were concerned the bill did not go far enough in its cuts or it would get watered down. Translating that from dollars into seconds that would be 6.4 centuries. All rights reserved. The next billion seconds is 31.7 years. 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. Bidens political decision to propose these levels of spending, despite the current $31 trillion federal debt, shows how important it is for Congress to clearly establish some level of fiscal discipline. But do that again on the moon on a bigger scale. The ultimate thought experiment opens our eyes to ten world-changing ideas within our grasp If we can come up with a trillion dollars to bail out banks, imagine what else we could do. But the Biden administration may run out of options as soon as early June. If adhered to, the caps would cut about $3.2 trillion from the pool of yearly appropriations to agencies including the Pentagon, the Department of Health and Human Services and the Environmental Protection Agency. And you can read an excerpt from the book on our website, sciencefriday.com/trilliondollars. I do think, though I have to be an optimist about it that if you throw money at it, if you make some really big new experiments, that youll start to see little cracks in the standard model. Now, I think if you asked people what they would do with a trillion dollars, a lot of them would say, first off, cure all human disease. Let's go shopping! So, in the context of talking about federal spending, in 2022, the U.S. government spent $6.2 trillion. What size house will you buy for yourself? Holding a 222-213 margin in the House, McCarthy can lose only four Republican votes and still be able to pass the bill if all the representatives show up and vote along party lines. I'll keep eating the way I do. GOP leaders also included a slew of additional policies, such as the adoption of what is called the Reins Act, which would grant Congress major new authority to review and overturn health, labor and other rules issued by federal agencies. Issued by Microsoft's ASP.NET Application, this cookie stores session data during a user's website visit. Do you have a story for The Sun Online Tech & Science team? I will bring back loads of gifts for family and friends from my travels. Do it right and save the And so we really need to shut that down. For further details of our complaints policy and to make a complaint please click this link: thesun.co.uk/editorial-complaints/, , Senior Digital Technology and Science Reporter, A game is offering players the chance to try their luck at spending Elon Musk's net worth, The Tesla boss has amassed a $166billion fortune, Players soon learn that chewing through billions of dollars is more difficult than it might first seem, Items you can 'purchase' include a $50million launch of a Falcon 9 rocket, You can also nab yourself a few dozen $194,000 Telsa Model S electric cars, Musk has enough cash to buy everyone in Los Angeles a $41,000 Rolex, Musk could purchase a fair few New York City apartments, which fetch $1million on average, Elon Musk reveals he has Aspergers as he hosts Saturday Night Live and is joined by his mom on the show, Independent Press Standards Organisation (IPSO). Rowan Hooper looks at the problems facing the world today - all the big ones - and presents solutions that are If you had one trillion dollars, you could spend it in a lot I'm sure that I'll bring back some pieces from my travels. Pretend you have a I think Im better at spending it. As a result, the GOP repeal would wipe out those savings before Washington can take advantage of them, essentially adding to the deficit in the process. Favorite topics includeplanetary sciences, chemistry, materials, and shiny things with blinking lights. In prior appearances on Capitol Hill, federal officials have estimated that amount is probably less than $100 billion. Funny Game Description Punish greedy fat cats and save honest peoples! 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. Individual income tax revenues were over $2 trillion in 2021 and 2022 for the first time a 64 percent increase in 2022 over 2020. The next trillion seconds is 317 centuries. And the goal is not to show how we can get the money, because Im only a journalist, so I dont have to get the money, but its to offer solutions. It would work better. The TiPMix cookie is set by Azure to determine which web server the users must be directed to. IRA FLATOW: Yeah, you certainly could. The JSESSIONID cookie is used by New Relic to store a session identifier so that New Relic can monitor session counts for an application. David Winston is the president of The Winston Group and a longtime adviser to congressional Republicans. Copyright 2022 Science Friday Initiative. 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. Tumblr. There's a lot more to being positive than being positive, after all. These movements were partly offset by an acceleration in consumer spending, an upturn in exports, and a smaller decrease in residential fixed investment. This cookie, set by YouTube, registers a unique ID to store data on what videos from YouTube the user has seen. Imagining what you might do if you won the lottery or received a huge inheritance from a long-lost relative is a classic daydream. ROWAN HOOPER: One of the fun ones Id like to do is I call it the Terran Alliance, which is effectively a space agency for the world. That would be $1.5 trillion more than Trump contributed during his term, which included the 2020 one-time COVID emergency spending. But yeah, to go to the moon, to go to the South Pole, build a base there, start mining water, put up some solar panels you could do that relatively cheaply, with, say, a few of hundreds of billions of dollars. Industry insiders believe the worldwide online sports betting market (which operates mostly from Eastern Asia, which accounts for an estimated 80% of their activity) VigLink sets this cookie to show users relevant advertisements and also limit the number of adverts that are shown to them. I will make some alterations and updates that fit my personal style. My question is, is this what leadership is going to demand from the Senate, or are we going to get something watered down? Rep. Ralph Norman (R-S.C.) told HuffPost. All rights reserved. 30 Broad Street, Suite 801 And we can get there, and we can solve this problem. It is the federal government's other trillion-dollar baby. 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. I may do some traveling to scout out some investment opportunities. And they only cost in the order of tens of billions of dollars each. The game was created by British car rental firm Leasing Options to demonstrate how outrageously large the entrepreneurs wealth is. Will you be hiring others to work with you? I will likely bring someone in to manage my charity. 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. The 320-page bill included $4.5 trillion in spending cuts, including strengthened work requirements on welfare programs, rescinding unspent pandemic funds, and banning student-loan forgiveness. I've always wanted to have a beautiful zen garden on my property. Nearly all of IRA FLATOW: How much is a trillion dollars? :McCarthy, GOP debt limit plan proposes $4.5 trillion in cuts, eliminates student loan forgiveness, 'Playing with American lives':House GOP leaders blast Biden before debt limit vote. Imagining what you might do if you won the lottery or received a huge inheritance from a long-lost relative is a classic daydream. Or some sort of universal treaty, like we had with the ozone layer. And lets hope it brings me in a few more hundreds of millions of dollars. I really like this idea because you effectively get twice the bang for your buck, because if you invest in areas of rich biodiversity or areas that are vital for biodiversity, they also tend to be areas that are vital for carbon storage areas. Youre not talking about intelligent life. I mean, its a really good point. 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. Probably the second lowest would be quantitative easing, just get some I say just get some governments to print some more money. That research has gone into a book, How To Spend A Trillion Dollars, published earlier this year (and in 2022 in the US). Currentdollar GDP increased 5.1 percent at an annual rate, or $327.9 billion, in the first quarter, to a level of $26.47 trillion. IRA FLATOW: And you dont want to just stop at the moon. These movements were partly offset by an acceleration in consumer spending, an upturn in exports, and a smaller decrease in residential fixed investment. It does a lot of what the 20 of us did in January, but theyre going to have to follow through on it., My question is, is this what leadership is going to demand from the Senate, or are we going to get something watered down?. However, given the direction of current spending, the CBO baseline projects the annual deficit will be over $1 trillion dollars through 2029, and then it goes over $2 trillion dollars for the years spanning 2030-2033. The sp_t cookie is set by Spotify to implement audio content from Spotify on the website and also registers information on user interaction related to the audio content. This cookie is used to detect and defend when a client attempt to replay a cookie.This cookie manages the interaction with online bots and takes the appropriate actions. That the ideas havent been coming. potential government defaultthis summer. 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 hope that I will get to collaborate with some amazing new friends. A fifth of American carbon emissions come from our homes. The outcome marked an escalation in the standoff between the House Speaker Kevin McCarthy (R-Calif.) and Biden, as Republican leaders hardened in their resolve to exploit a key fiscal deadline for political leverage even at the risk of causing the U.S. government to default. Absolutely. I might get something that would be a fun project to work on. It has 12 zeroes: looking for trillions-worth of video games and ramen noodles to repossess. Its not the final provisions, and theres a number of members who will vote for it going forward to say theres some concerns there.. Potential cracks in the GOP lines persisted. So it should not be surprising that the new majority in the House wants to define policies that will create a trajectory toward some level of fiscal discipline, in combination with raising the debt ceiling. ROWAN HOOPER: Well, globally, it wont get us to carbon zero. And most of all is basic health care globally would cost a lot of money. IRA FLATOW: So there are things that we could not do even if I gave you my blank check question. Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category . There was lots of other cool things Id like to do, like create an interstellar starship. I may collaborate with others, but I don't see hiring people. Is it a question of money, or is it a question of new ideas? They raised the debt ceiling three times during the Trump administration, she said, but now they are using the full faith and credit of the U.S. to try and force spending cuts Democrats will not accept. Absolutely. 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. You would have to come up with some pretty crazy ideas to spend that Like the Federation. 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. That's not going to be something that I spend money on. YouTube sets this cookie to store the video preferences of the user using embedded YouTube video. Towards renewable energy. 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. Would you like to open your own restaurant? In between those are a brand new PlayStation 5, a $1million New York City apartment and even a $4.5million private jet. LinkedIn sets the lidc cookie to facilitate data center selection. I might try some new recipes with some more exotic ingredients. The GOP bill would also make it harder for states to spare certain families on SNAP from federal work requirements a flexibility some states have used to help lower-income people during times of high unemployment. ROWAN HOOPER: Yeah, it might be worth doing. This cookie is used for storing country code selected from country selector. 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. But in terms of the amount of money thats out there, if you look at just private equity firms, the amount of money they have before they invest it they call it dry powder in 2020, at the start of 2020, they had $1.45 trillion of dry powder, cash, just sitting around. We'll assume you're okay with this, but you can opt-out if you wish. Invest in quality science journalism by making a donation to Science Friday. Theyve been doing it a lot recently with the pandemic. Will you be buying new furniture for your home? Talk about that. 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. Republicans have made no secret about their opposition to the Inflation Reduction Acts investments to fight climate change. I might actually take time to write a book. Do you have information you want to share with HuffPost. I plan to take in as many new experiences as I can. So its a fair deal more than them. But we can tackle them bit by bit. 2023 USA TODAY, a division of Gannett Satellite Information Network, LLC. I think there are much better things I could do with my money. 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. Do you think you will purchase a recreational vehicle? 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. The White House rebuked the Republicans' plan and said the president would veto the bill if it came to his desk. ROWAN HOOPER: Yeah. But opting out of some of these cookies may have an effect on your browsing experience. I might give it a try. So you get double your money. The cookies is used to store the user consent for the cookies in the category "Necessary". In the fourth quarter, GDP increased The president has maintained that Republicans should increase the debt limit without conditions, saying that a miscalculation that triggers a default could push the economy into a recession. That includes, for example, participating in 80 hours per month in employment or community service otherwise states could remove these enrollees from the safety-net program. Biden announced in August his plan to wipe out $10,000 in debt for Americans who earn less than $125,000 annually, and $20,000 for lower-income borrowers. I want to show that we can solve a lot of this, and whats holding us back, actually, is just investing wisely. This cookie is set by GDPR Cookie Consent plugin. I will keep it going for many, many years. I might have a few outfits crafted just for me, to highlight my unique style. IF you've ever wondered how tricky it would be to empty Elon Musk's coffers, then have we got the website for you. The cookie is used to store the user consent for the cookies in the category "Performance". If adhered to, the caps would cut about $3.2 trillion from the pool of yearly appropriations to agencies including the Pentagon, the Department of Health and Human Services and the Environmental Protection Agency. And one is to settle off the planet, to set up a colony on the moon. While the economy skirts recession in both scenarios, recession risks are uncomfortably high, with a consensus of economists and many investors and business executives expecting a downturn beginning late this year or early next. Revenues from both individual income taxes and corporate income taxes were the highest they have ever been. 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. It's about finding ways to squeeze out more of America's middle class.". And you could raise the money like that. 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. Remember what this bill is: This bill is to get us to the negotiating table. House Republicans would raise the debt ceiling by $1.5 trillion, or suspend it until March 31, 2024, whichever occurs first. If I had a trillion dollars than I could probably spend it. The use of these cookies is strictly limited to measuring the site's audience. Lets begin with some context here. He advises Fortune 100 companies, foundations, and nonprofit organizations on strategic planning and public policy issues, as well as serving as an election analyst for CBS News. If you do not allow these cookies we will not know when you have visited our site, and will not be able to monitor its performance. And then youll get new ideas, and the thing will start rolling on. Whether its your openness or your warmth, you carry with you some of the best of human qualities. I really want to experiment with an electric car. Senate Majority Leader Chuck Schumer described it as "dead on arrival," asSenate Democrats won't agree to the GOP spending cuts. Not surprisingly, for the first time in history, U.S. debt is predicted to exceed the nations Gross Domestic Product by the end of 2020. I say cheap, you know, but to get to Mars, it would take all the trillion, I think. The billionaire recently warned that humanitymay wipe itself outbefore his aerospace company SpaceX has a chance to colonise Mars. Which new hobby would you most likely see yourself taking up? These cookies help provide anonymized information on metrics the number of visitors, bounce rate, traffic source, etc. Not really. Imports turned up. "The Sun", "Sun", "Sun Online" are registered trademarks or trade names of News Group Newspapers Limited. House Republicans were still trying Tuesday to ensure they had enough votes to pass a massive spending cut bill as their opening bid in a fight with the White House over raising the governments debt limit. Thats the question asked by Rowan Hooper. The president and his White House have taken the 2020 COVID-19, one-time-only crisis budget as his administrations working baseline, rather than the pre-Covid 2019 budget, which had a significant $4.4 trillion price tag. WebIf you managed to spend a million dollars per minute for 24 hours every day, it'd take you around 7 years to spend a trillion dollars. I may start a charity, but probably not a business.

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