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Oct 5, 2017

10/05/2017: The economy according to Donald Trump

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President Donald Trump gave his assessment of the American economy this morning on Twitter: "Stock Market hits an ALL-TIME high! Unemployment lowest in 16 years! Business and manufacturing enthusiasm at highest level in decades!" A couple things about that: Markets go down too, and unemployment was only at a 16-year low back in June. It's not clear what "business enthusiasm" metric he was using. But look: It's a long-established tradition for presidents to claim credit for the country's economic successes. Whether that credit's always deserved? That's less clear.

Also on this show: We'll bring you the latest on Republicans' tax plan and examine a play all about junk bonds. Plus: Our reporter hitched a ride yesterday on a planeload of union nurses, truck drivers and electricians headed from New York to Puerto Rico.

Segments From this episode

Junk bond kings take center stage in a new play

Oct 5, 2017
In Ayad Akhtar's new play "Junk," he tackles the precarious financial world of the 1980s.
Playwright Ayad Akhtar (foreground) and director Doug Hughes (background) in rehearsals for Lincoln Center Theater's JUNK. The new play examines the dark side of Wall Street in the 1980s. 
Photo courtesy of T. Charles Erickson

"Let's be honest. Corporate taxes are pretty low," this CEO says.

Oct 5, 2017
We check in with Lisa Goldenberg of Delaware Steel, who believes it's the American people who are suffering.
Income tax form at the Des Plaines Public Library in Illinois.
Tim Boyle/Getty Images

How much influence does a president have over the economy? In the short term, not much.

Oct 5, 2017
President Donald Trump touted the state of the economy this morning in a tweet that read “Stock Market hits an ALL-TIME high! Unemployment lowest in 16 years! Business and manufacturing enthusiasm at highest level in decades!” Unemployment WAS at a 16-year-low in June. It’s gone up since then. And it’s unclear what numbers Trump is looking […]

The fight over how to attach a value to the GOP tax plan

Oct 5, 2017
The U.S. House of Representatives approved a $4.1 trillion budget plan today. That brings us closer to a tax overhaul, because the passage of the spending blueprint will make it easier for Republicans to push a tax plan through. That’s not to say it will be easy: There are a whole lot of big-deal questions […]

On infrastructure, now what? Trump's sudden turn away from public-private model brings uncertainty

Oct 5, 2017
With private money at a record level and projects ready to go, the president decides the partnerships are "more trouble than they're worth," leaving states to make their own deals with investors and to hope for federal funding.
President Donald Trump delivers a speech on June 7, 2017 in Cincinnati, Ohio. Donald Trump spoke about transportation and infrastructure projects. 
Bill Pugliano/Getty Images

As workers flow into Puerto Rico, residents try to leave

Oct 6, 2017
A recent United Airlines flight carried volunteer workers into Puerto Rico and evacuated residents who wanted to leave.
Damaged homes are seen as people deal with the aftermath of Hurricane Maria in Puerto Rico.
Joe Raedle / Getty Images

President Donald Trump gave his assessment of the American economy this morning on Twitter: “Stock Market hits an ALL-TIME high! Unemployment lowest in 16 years! Business and manufacturing enthusiasm at highest level in decades!” A couple things about that: Markets go down too, and unemployment was only at a 16-year low back in June. It’s not clear what “business enthusiasm” metric he was using. But look: It’s a long-established tradition for presidents to claim credit for the country’s economic successes. Whether that credit’s always deserved? That’s less clear.

Also on this show: We’ll bring you the latest on Republicans’ tax plan and examine a play all about junk bonds. Plus: Our reporter hitched a ride yesterday on a planeload of union nurses, truck drivers and electricians headed from New York to Puerto Rico.

Music from the episode

Eyes To The Wind The War On Drugs
Slow Boogie Various Artists
Canyons Chris Pickering