The current reconciliation bill will raise the deficit. Could it pass anyway?

The ceasefire between Israel and Iran appears to be holding for now. But as this conflict has played out, along with other ongoing wars around the world, it got us thinking: What does war even look like in 2025? In Ukraine, it looks like drone and missile attacks side-by-side with everyday life. On the show today, longtime international correspondent Deborah Amos joins us from Kyiv, Ukraine to talk about how modern warfare has changed.Here’s everything we talked about today:"Bank hacks, internet shutdowns and crypto heists: Here’s how the war between Israel and Iran is playing out in cyberspace" from Politico"Combat drones: We are in a new era of warfare - here's why" from BBC News"FPV drones in Ukraine are changing modern warfare" from Atlantic Council"Cyber Operations during the Russo-Ukrainian War" from the Center for Strategic and International Studies “‘Will Trump give up the store?’ Edward Fishman on how US economic warfare works – and doesn’t" from The GuardianGot a question for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

This week, we’ve looked at the budget reconciliation bill and its effects on student debt, taxes, health care and social programs. The bill is currently moving through the Senate. Today, we discuss the reconciliation bill and the national deficit. And we dig into other proposals such as AI regulation ban and private foundation taxes. Plus, we play a special budget round of Half Full/Half Empty.Here’s everything we talked about today:“AI moratorium sparks GOP battle over states’ rights” from The Hill“Introduction to Budget “Reconciliation” from The Center on Budget and Policy Priorities“One, Big, Beautiful Bill: Impact on Philanthropy” from Council on Foundations“Senate Judiciary Unveils Its Own Plan To Curtail Court Orders” from CATO Institute“Parliamentarian rulings would kill key climate provisions in GOP megabill” from PoliticoGot a question for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

Every day this week, we’ll take a look at the ripple effects of the budget reconciliation bill moving through Congress that would enact President Donald Trump’s agenda. Today, we focus on the bill’s impact on health care and social programs. We explain how the Senate’s version of the reconciliation bill cuts Medicaid more aggressively than the House of Representatives’ previous version. Then, we hear from a listener about how the bill’s Medicaid cuts could affect the hospitals they work with, particularly in underserved rural areas. Plus, we answer a listener question about how states would absorb the costs of the bill’s federal funding cuts. Here’s everything we talked about today:“Senate Bill Would Make Deep Cuts to Medicaid, Setting Up Fight With House” from The New York Times“Hundreds of rural hospitals at risk if Medicaid cuts pass, Democrats say” from Healthcare Dive“2025 Budget Impacts: House Bill Would Cut Assistance and Raise Costs for Seniors” from The Center on Budget and Policy Priorities“GOP bill would have states picking up more of the tab for programs like Medicaid and SNAP” from Marketplace“How Would Potential Federal Budget Cuts Impact State Budgets?” from Urban-Brookings Tax Policy Center“What are the Implications of the 2025 Budget Reconciliation Bill for Hospitals?” from KFFGot a question for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

Today, we take a deep dive into the provisions affecting small businesses and taxes in the “One Big Beautiful Bill,” which aims to enact President Donald Trump’s agenda. The bill passed the U.S. House of Representatives in May, and the U.S. Senate released its proposed version of the bill on Monday. The Senate’s draft upheld many policies from the House of Representative’s version, including cuts to the Supplemental Nutrition Assistance Program. We explain how the ripple effects of those cuts could affect small businesses such as grocery stores and farmers. Also, we dig into the implications of the Senate’s proposal to make permanent several business tax breaks. Here’s everything we talked about today: “Here’s what’s in the Senate GOP’s version of Trump’s ‘big, beautiful bill’" from The Hill“Senate Republicans seek tougher Medicaid cuts and lower SALT deduction in Trump’s big bill” from The Associated Press“Tax Cuts and Jobs Act: A comparison for businesses” from the Internal Revenue Service“The Farm Safety Net: A Closer Look at ARC and PLC” from the National Sustainable Agriculture CoalitionGot a question for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

Every day this week, we’re going to take a closer look at the “One Big Beautiful Bill,” which aims to enact President Donald Trump’s agenda. It proposes a tax cut and increased spending for border security and the military. It also includes cuts to health, nutrition, education and clean energy programs. Today, we explain the rules around what provisions can go into reconciliation bills, and where the bill currently stands in the legislation process now. Plus, we answer questions from listeners on how the bill could affect their student loans and access to higher education.Here’s everything we talked about today:“Senate sidesteps parliamentarian, widens reach of CRA” from Roll Call“Republicans face critical week on Trump megabill” from The Hill“The Senate is assessing the "Big Beautiful Bill" line by line to eliminate non-budgetary measures” from Marketplace“Senate Republican education plan may trigger ‘avalanche of student loan defaults,’ expert says” from CNBCGot a question for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

More than 100 years after the Tulsa Race Massacre, the Oklahoma city’s mayor recently announced a $105 million reparations package to address the Massacre’s lasting impact. Marketplace’s Mitchell Hartman joins us on the show today to explain how we got here, and more from his reporting on economic injustice in Tulsa’s Greenwood neighborhood. Plus, we’ll get into what the new reparations package could mean for Black Tulsans and the push for reparations in other cities.Here’s everything we talked about today:"The Tulsa Race Massacre destroyed Black lives and wealth. What's owed to survivors' descendants?" from Marketplace"Black Tulsans still feel effects of Greenwood neighborhood's "second destruction'" from Marketplace "$105 Million Reparations Package for Tulsa Race Massacre Unveiled by Mayor" from The New York Times"$105 million trust to be built for 1921 Tulsa Race Massacre reparations, city says" from Public Radio TulsaWe want to hear from you. Email [email protected] or leave us a voicemail at 508-U-B-SMART.

For decades, going to college has been seen as a reliable path to good jobs and economic success in the United States. But a recent Indeed survey reported that over half of Gen Z respondents beg to differ. As tuition prices continue to rise and the Trump administration takes aim at higher education institutions, is the way we view college changing? On the show today, Bryan Alexander, a higher education writer and senior scholar at Georgetown University, explains why college is still a worthy investment for most students, why more people are considering certificate programs and technical schools, and how President Trump’s attacks on elite universities are a risk to higher education as a whole.Then, Kimberly breaks down the difference between the reconciliation bill and government spending bills in Congress. And, Casey Johnston, author of “A Physical Education,” answers the Make Me Smart question.Here’s everything we talked about today:"Report: 51% of Gen Z Views Their College Degree as a Waste of Money" from Indeed  "Against college for all: the AFT president" from Bryan Alexander "Americans Are Losing Faith in the Value of College. Whose Fault Is That?" from The New York Times"Good Jobs Project" from Georgetown University"House considers Trump cuts as Senate Republicans work on reconciliation bill" from Roll Call"Deal or no deal? Inside reconciliation and gov’t funding" from Punchbowl News"A muted backlash to Trump’s new travel ban" from Politico "Have Americans grown numb? Trump’s new travel ban met with muted reaction" from MSNBC"Finding Strength in a Bigger Body" from The Cut Got a question about the GOP’s reconciliation bill? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

President Donald Trump deployed California National Guard troops to Los Angeles on Sunday, following demonstrations over the weekend protesting the Trump administration’s immigration crackdown. The decision was made without California Governor Gavin Newsom’s approval, and the state is now suing the “illegal and immoral” move. We get into all the potential ramifications of the uptick in immigration raids. Then, we discuss how people in other countries have coped with anti-democratic forces in their own communities. Finally, we smile at the original cast of “Hamilton” reuniting for the musical’s 10-year anniversary. Here’s everything we talked about today: “The Beautiful Danger of Normal Life During an Autocratic Rise” from The New York Times“The 78th Annual Tony Awards® | Hamilton 10 Year Anniversary Performance” from CBS“The original cast of ‘Hamilton’ reunites on the Tonys stage with rousing performance” from CNN“When to see June’s full strawberry moon on Tuesday night” from The Washington PostGot a question or comment for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

The artificial intelligence cloud computing provider CoreWeave sold shares to the public today with so-so results. Because it’s the first major IPO of the current generative AI era, some argue that CoreWeave could be a barometer of the AI boom. We’ll get into it. And, a federal appeals court ruled in favor of President Donald Trump’s firings of independent agency heads. The case will likely make its way to the Supreme Court. Plus, we’ll play a round of Half Full/Half Empty!Here’s everything we talked about today:“Appeals court clears way for Trump to fire leaders of ‘independent’ federal agencies” from Politico“CoreWeave stock seesaws after IPO in first big test of AI trade” from Yahoo Finance“CoreWeave Is A Time Bomb” from Ed Zitron’s Where’s Your Ed At“OpenAI Unveils New Image Generator for ChatGPT” from The New York Times“DoorDash and Klarna partner to offer buy now, pay later for takeout” from Marketplace“Crocs hits record revenue as popularity with younger consumers soars” from Marketplace“When should we pay rent with a credit card? from Marketplace“Facebook’s New Friends Tab Brings App Back to Its Roots” from The New York TimesMarketplace’s March fundraiser ends today! Chip in now and pick up a classic public media thank-you gift: https://support.marketplace.org/smart-sn

On today’s episode, Kai and Reema discuss the disturbing arrest of a Turkish national with a valid student visa at Tufts University and the effects these immigration detentions are having on political speech. Plus, WNBA team New York Liberty got a shiny, new training facility. (No, it’s not a spa!) And, another big oops for National Security Adviser Mike Waltz. You just can’t make this stuff up.Here’s everything we talked about today:“New York Liberty Unveil Practice Facility Amid WNBA’s Race to Attract Talent” from The New York Times “DoJ lawyers say detained Tufts student was sent to Louisiana before court order” by The GuardianVideo: Marco Rubio’s comments on Ozturk’s arrest posted by Aaron Rupar on Bluesky “Mike Waltz Left His Venmo Friends List Public” by Wired Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.