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Pitchfork Economics with Nick Hanauer

Connecting the dots on Biden's middle-out economic policies (with Heather Boushey)

Pitchfork Economics with Nick Hanauer

Civic Ventures

Business, Government, News, Politics

4.8 • 1.5K Ratings

🗓️ 23 July 2024

⏱️ 46 minutes

🧾️ Download transcript

Summary

This week Nick & Goldy are joined by Heather Boushey, Chief Economist for President Biden's Invest in America Cabinet, for a deep dive into the transformative economic policies of the Biden administration. Boushey discusses the paradigm shift towards a middle-out economic approach to crafting economic policy and the impact of legislation like the American Rescue Plan, CHIPS Act, Bipartisan Infrastructure Law, and Inflation Reduction Act. Their conversation explores the importance of investing in infrastructure, clean energy, and manufacturing to drive growth and create good jobs. They also discuss the challenges of implementation, the success of the administration’s industrial policy, and its remarkable economic outcomes including record low Black unemployment, high new business applications, and equitable wage growth. Even though this episode was recorded before President Biden announced he was withdrawing from the presidential campaign and endorsing Vice President Harris, this wide-ranging conversation offers plenty of valuable insight into the past, present, and future of middle-out economics. Heather Boushey is a distinguished American economist who specializes in economic inequality and public policy. She serves on President Biden’s Council of Economic Advisers and is the Chief Economist for the Invest in America Cabinet. Before joining the Biden Administration, she was the co-founder and President of the Washington Center for Equitable Growth, a research organization dedicated to advancing evidence-backed ideas and policies that promote economic growth and reduce inequality. Twitter: @HBoushey Further reading: Invest.gov The Productivity–Pay Gap Website: http://pitchforkeconomics.com Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer

Transcript

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0:00.0

Hey Pitch Fork Listeners, this is Ashley, one of the producers on the show.

0:03.2

Wanted to let you know that the episode and interview with Heather Boucher that you're about to hear

0:08.1

was recorded before President Joe Biden announced that he would not continue seeking re-election for a second term.

0:15.4

So please keep that in mind as you listen.

0:19.5

The rising inequality and growing political instability that we see today are the direct result of decades

0:26.6

of bad economic theory.

0:27.6

It's time to build our economy from the bottom up and from the middle out, not the top down.

0:33.6

Middle out economics is the answer.

0:35.9

Because Wall Street didn't build this country.

0:38.3

Great middle class built this country.

0:40.5

The more the middle class thrives the better the economy from the middle out.

1:00.0

Welcome to the show. One of the things that really pisses me off, Nick, about the way the press is covering the presidential election,

1:15.8

is how shallow they've been on economic issues, on economic policy, how little talk there has been about the Biden administration's

1:26.0

accomplishments and the benefits that we're experiencing now, how strong the economy is compared to the rest of the world and why and instead just focusing you know on his age whether he's a good debater. You just see nothing in the press that actually educates

1:46.0

voters about the economy. Yeah, it's true. It's a shame, but it is complicated and you know to a certain

1:52.1

extent. You know, you don't want to do

1:54.5

anything complicated like the New York Times exactly better to look at a a historic

2:02.0

speech on saving democracy and your lead is oh he didn't stumble or look at the debate the

2:08.8

debate purely from a horse race perspective and not talk at all about the the fascist promises coming

2:17.7

up. But this is an economics podcast Nick and fortunately we have somebody here today who can talk about the

2:25.9

what the Biden administration policy and the impact it's been having on our economy.

2:31.1

That's true we're very privileged to get to talk to our old

...

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