The Indicator from Planet Money - Tech layoffs, recession pop and more listener questions answered

We are back with another edition of listener questions! In this round, we tackle recession pop, why the job market feels so crummy for IT grads, and whether President Trump saying that Walmart "eat the tariffs" is a form of price control.

Related episodes:
Hits of the Dips: Songs of recessions past (Apple / Spotify)
The beef over price controls
Price Controls, Black Markets, and Skimpflation: The WWII Battle Against Inflation

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The Ezra Klein Show - The Disaster That Just Passed the Senate

President Trump’s “big, beautiful bill” is a bad piece of legislation. It includes trillions of dollars in tax cuts that are very much tilted toward the rich, along with savage cuts to Medicaid, nutrition assistance and green energy.

And on Tuesday, July 1, the Senate passed it in a 51-50 vote, with Vice President JD Vance as the tiebreaker.

But bad policy only matters if people know about it, and a lot of people don’t — partly because there are an overwhelming number of provisions, and partly because the Trump administration is already flooding the zone with so many other major policy fights.

So I asked Matt Yglesias, the author of the Slow Boring newsletter, back on the show to go through what is in this bill and why it has been so hard to build momentum for pushback. We spoke on Thursday, June 26.

Mentioned:

A List of Nearly Everything in the Senate G.O.P. Bill, and How Much It Would Cost or Save” by Alicia Parlapiano, Margot Sanger-Katz, Aatish Bhatia and Josh Katz

The System by David S. Broder and Haynes Johnson

The Ten Year War by Jonathan Cohn

Book recommendations:

Proto by Laura Spinney

Wuthering Heights by Emily Bronte

The Social Transformation of American Medicine by Paul Starr

Thoughts? Guest suggestions? Email us at ezrakleinshow@nytimes.com.

You can find the transcript and more episodes of “The Ezra Klein Show” at nytimes.com/ezra-klein-podcast. Book recommendations from all our guests are listed at https://www.nytimes.com/article/ezra-klein-show-book-recs.html

This episode of “The Ezra Klein Show” was produced by Jack McCordick and Rollin Hu. Fact-checking by Kelsey Kudak. Our senior engineer is Jeff Geld, with additional mixing by Aman Sahota. Our executive producer is Claire Gordon. The show’s production team also includes Marie Cascione, Annie Galvin, Michelle Harris, Elias Isquith, Marina King, Jan Kobal, and Kristin Lin. Original music by Pat McCusker. Audience strategy by Kristina Samulewski and Shannon Busta. The director of New York Times Opinion Audio is Annie-Rose Strasser.

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Consider This from NPR - House Speaker may have to make a lot of promises to get bill to Trump’s desk

The massive tax and spending bill central to President Trump's agenda is one step closer to reality.

After weeks of negotiations and 49 consecutive votes that started Monday morning, the senate approved President Trump's signature domestic policy bill around lunch time Tuesday. It now goes back to the House of Representatives where Republican Speaker Mike Johnson will have to reconcile the senate changes with his members' competing priorities.

Michael Ricci has had a long career in republican politics, including working as Speaker Paul Ryan's communications director and Speaker John Boehner's Chief Speech writer. We talked with him about the stakes, and the bill's prospects in the House.

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Audio Mises Wire - Methodological Individualism in Historical Analysis

To better understand history, we must understand how people thought and acted in the context of their times and the prevailing worldviews of that era. Unfortunately, modern historians insist on looking at US History from modern collectivists viewpoints.

Original article: https://mises.org/mises-wire/methodological-individualism-historical-analysis

Audio Mises Wire - Will New York City Become the New Socialist Paradise?

Socialist mayoral candidate Zohran Mamdani has emerged as a serious challenger to Andrew Cuomo in the race for mayor of New York City. If Mamdani wins, he promises to vastly expand government control of housing and businesses there.

Original article: https://mises.org/mises-wire/will-new-york-city-become-new-socialist-paradise