"Econ 102" with Noah Smith and Erik Torenberg
Case for Biden, Biden vs Trump, China
May 15, 2024
The conversation dives into Joe Biden's economic policies, assessing their effectiveness and impact on inflation. A comparison of Biden's strategies against Trump's reveals distinct approaches to government spending and industrial growth. They tackle the significance of the CHIPS Act and the Inflation Reduction Act for U.S. dominance in technology. Additionally, the challenges of solar project permits and tariffs on Chinese electric vehicles are explored, highlighting the complexities of international trade and domestic innovation.
49:21
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Quick takeaways
- Biden's administration faces challenges with deficit spending, focusing on health insurance and education subsidies, raising concerns about inflation.
- Biden's industrial policy shifts towards revitalizing American manufacturing through strategic investments, promoting clusters, and bipartisanship, reshaping the industrial landscape.
Deep dives
Biden's Approach to Spending and Policy Decisions
Biden's administration faces criticism for high deficit spending, especially in areas like health insurance, higher education subsidies, and new housing subsidies, leading to concerns about inflation and fiscal weakness. While Biden's foreign policy has received positive reviews, the focus on deficit spending remains a key challenge to address, differing from Trump's approach to domestic spending.
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