Walmart had said it would raise prices in response to tariffs. Then, it got a call from the White House. Now, the retailer says it will swallow some of the costs. This has us wondering: where have all the free market diehards gone? Plus, Kimberly reflects on the tornadoes that hit her hometown of St. Louis, Missouri and explains FEMA’s plan to shift disaster costs to the states. Also? Did the GOP really name their reconciliation bill the “One Big Beautiful Bill?”

Here’s everything we talked about today:

• "Bessent says Walmart will absorb 'some tariffs' after speaking with retailer's CEO" from Fox Business
• "FEMA will shift more disaster recovery responsibilities to the states, acting chief says" from PBS News
• "Here’s the latest information on Friday’s tornado in St. Louis" from STLRP
• "Trump's bill advances in rare weekend vote as House conservatives negotiate changes" from NPR

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On today’s show, Kai makes a special annoucement! But first, Moody’s knocked the United States’ government’s credit rating down a peg below Triple-A. We’ll break down what that actually means and why it may not be as dire as it sounds but still matters a lot for the vibes. Plus, we’ll explain why, even with a majority, the House GOP hasn’t been able to pass its budget bill. And, we’ll play a round of Half Full/Half Empty and nerd out on “Star Wars” spin-off shows.

Here’s everything we talked about today:

• "House budget panel rejects GOP megabill amid conservative opposition" from Politico 
• "Army to place large metal plates on DC streets to protect them from tanks during June parade" from WTOP News 
• "U.S. Loses Last Triple-A Credit Rating" from The Wall Street Journal 
• "Airbnb Is in Midlife Crisis Mode" from Wired
• "Why banks still have branches — and why some are motivated to add more" from Marketplace
• "Gen Z's 'conscious unbossing' should be a wake-up call for businesses" from Business Insider
• ​​"Is the Next Great American Novel Being Published on Substack?" from The New Yorker 
• "Warner’s Streaming Service Has New Name: Its Old One. Meet ‘HBO Max.’" from The Wall Street Journal  

Got a message for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

In today’s show, Kimber-Kai are answering your questions about all the wild things going on in the U.S. economy. Isn’t the 30% tariff rate on China still crazy high? And, how are local governments preparing for potential federal funding cuts? We’ll discuss how states are weighing their next moves, and how the “Trump Slump” has taken shape in California. Then, we’ll get into the Federal Reserve’s wait-and-see tariff strategy. 

Here’s everything we talked about today:

• “State of U.S. Tariffs: May 12, 2025” from The Budget Lab at Yale
• “States, Cities Face Funding Collapse Threat With Trump Cuts” by Bloomberg
• “Higher prices or higher unemployment? The economy could face a no-win dilemma” by NBC News

Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

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On today’s show, Kimberly continues to make us smart about the GOP’s massive tax bill. This time, we’re digging into a small (but important) detail buried in the bill that could have enormous consequences for the regulation of artificial intelligence: a clause that would block states from enforcing AI laws for ten years. We’ll break down what’s at stake. And, the U.S. dollar is getting weaker. We’ll explain what it could mean for the economy.

Here’s everything we talked about today:

• "House panel advances tax portion of Trump agenda bill after marathon meeting" from The Hill
• "State AI laws would be banned under clause buried in House budget bill" from Stat News
• "G.O.P. Targets a Medicaid Loophole Used by 49 States to Grab Federal Money" from The New York Times
• "US Is Not Negotiating for Weaker Dollar as Part of Tariff Talks" from Bloomberg

• "Republicans push for a decadelong ban on states regulating AI" from The Verge 

  
  

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Today we’re ditching the drama on Earth and talking about K2-18b, an exoplanet 120 light-years away. K2-18b recently made headlines after researchers claimed to observe possible “signs of life” in the planet's atmosphere. So, did we find aliens? Michaela Musilova, an astrobiologist and analog astronaut, said it’s too early to tell. On the show today, Musilova breaks down the debate over K2-18b, why better telescopes are needed to find definitive proof of life on another planet, and why President Trump’s proposed funding cuts to NASA could disrupt this search. Plus, what’s it like to be an analog astronaut, and what do they actually do?

Then, why a healthy reading diet contains both “broccoli” and “chocolate pie” books. And, Jessamine Chan, author of “The School for Good Mothers,” answers the Make Me Smart question.

Here’s everything we talked about today:

• "Astronomers Detect a Possible Signature of Life on a Distant Planet" from The New York Times
• "Does exoplanet K2-18b host alien life or not? Here's why the debate continues" from Space 
• "Experts alarmed as White House proposes 'largest single-year cut to NASA in American history'" from Space 
• "NASA’s Don Pettit Shot 220 Days of Amazing Photos From the I.S.S." from The New York Times 
• "What’s in Trump and Republicans’ giant tax and immigration bill?" from The Washington Post

• "Republican Tax Plan Boosts SALT Deduction, Ends Green-Energy Breaks" from The Wall Street Journal 

  
  

  Got a question or comment for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

House Republicans’ newly released tax plan includes trillions in tax breaks. But those tax cuts will come at a cost. We’ll get into it. And, Apple plans to raise iPhone prices but won’t point fingers at President Trump’s tariffs. We’ll unpack how all the tariff chaos could lead to elevated prices, no matter what they actually cost companies. Plus, sci-fi escapism and Pope Leo XIV’s love of baseball make us smile.

Here’s everything we talked about today:

• "Exclusive | Apple Considers Raising iPhone Prices, Without Blaming Tariffs" from The Wall Street Journal 
• "With China tariffs on hold, will Americans stop stockpiling goods?" from Marketplace 
• "House GOP unleashes sweeping tax legislation" from Politico 
• "House tax writers eye SALT deduction cap rejected by key lawmakers last week" from The Hill
• "Why Tolkien thought "sub-creation" was the secret to great fantasy and science fiction" from Big Think 

• "Pope Leo asks fan 'Sox or Cubs?' as he signs a baseball" from The Chicago Sun-Times 

  
  

  Got a question or comment for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

As the Trump administration heads into a weekend of trade talks with Chinese officials, the President is floating a new tariff rate on Chinese imports: 80%. While it’s much lower than the current tariff rate of 145%, it’s still far too high for many businesses. We’ll get into it. And, a recent legal win for Epic Games could shake up Apple’s App Store. Plus, we’ll weigh in on mass producing orchids and going cashless during a round of Half Full/Half Empty!

Here’s everything we talked about today:

• "DOJ, FTC open inquiry into the concert industry" from The L.A. Times 
• "Fortnite applies to launch on Apple's App Store after Epic Games court win" from CNBC 
• "How Apple Created a Legal Mess When It Skirted Judge’s Ruling" from The New York Times 
• "Ahead of China-US talks, Trump says 80% tariff 'seems right'" from Reuters
• "Revenge RTO: Workers are coming in late, leaving early and stealing snacks as they find small ways to get back at their bosses" from Fortune
• "Trump Revives Push for Higher Taxes on the Rich" from The New York Times
• "How the Exotic Orchid Became a Mass-Market Commodity" from The Wall Street Journal 

• "The drawbacks of an increasingly cashless society" from Marketplace

  
  

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Following Trump’s so-called “Liberation Day” tariffs, the United States has now struck a trade deal (sorta) with the United Kingdom. We’ll get into it. Plus, childcare costs a lot – and in some places, more than rent. Then, we’ll smile at the unexpected joy of “swole culture.” And what if, instead of sports metaphors, we used makeup lingo at work?

Here’s everything we talked about today:

• “Trump unveils United Kingdom trade deal, first since 'reciprocal' tariff pause” by CNBC
• “U.S., Britain strike first major trade deal of Trump tariff era” by Axios
• “Sending 2 Kids to Daycare Costs More Than Rent in Most Major U.S. Metros” from Redfin
• “Head Start avoids Trump’s cuts, but advocates are ready to defend it: ‘There’s too much good in this’” by The Guardian
• LISTEN: “Will you be my nanny?” from “This Is Uncomfortable” 
• “Life of the Mother” by ProPublica
• “Finding Strength in a Bigger Body” from The Cut
• “How one writer quit dieting and discovered her strength through weightlifting” by NPR

Join us tomorrow for “Economics on Tap.” The YouTube livestream starts at 3:30 p.m. Pacific time, 6:30 p.m. Eastern.

On today’s episode: Marketplace’s Reema Khrais joins Kimberly to discuss two stories from opposite ends of the housing spectrum – cuts to rental assistance programs and the soaring cost of starter homes. Then, Kimberly explains yet another reason why the rest of the world is giving the U.S. major side-eye. And we’ll smile about a slimy substance that might help keep microplastics at bay and parrots connecting over Facetime.

Here’s everything we talked about today:

• “Proposed cuts to housing programs could affect millions, experts warn” from The Washington Post
• “Where starter homes cost at least $1 million” by Axios
• This Is Uncomfortable Season 11 from Marketplace
• “You Have a Message From Taiwan” by The Wall Street Journal
• “Why the Asian currency blowup matters” from Axios
• “Scientists Taught Pet Parrots to Video Call Each Other—and the Birds Loved It” from Smithsonian Magazine
• “Okra and fenugreek extracts remove most microplastics from water, finds research” on Phys.org 

Got a question or comment for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

So far, President Trump’s “drill, baby, drill,” agenda has proven to be a sharp turn from Biden-era climate initiatives, including the landmark spending bill the Inflation Reduction Act (IRA). 

And thanks to President Trump’s attempts to claw back control over IRA funds, as well as his recent budget proposal which drastically cuts climate spending, the future of America’s fast-growing clean energy economy looks uncertain. 

“The world is switching to electric vehicles, the world is switching to solar and wind,” said Christopher Knittel, economics professor and associate dean for climate and sustainability at the MIT Sloan School of Management. “And the less we do domestically, the less capability we build domestically to provide those clean energy resources, the worse off our industries will be in the future.”

Knittel explains President Trump’s efforts to phase out Biden-era climate initiatives, why some Republicans are reluctant to get rid of the IRA entirely, and why the U.S. getting left behind in a world committed to decarbonization poses a threat. 

Plus, the new Canadian Prime Minister Mark Carney told President Trump that Canada is “not for sale” in a meeting earlier today. And, the REAL ID deadline is coming in hot, though not all states seem equally prepared. 

Then, we’ll hear about how Seattle businesses are showing love for Canadian visitors and a listener share’s her daughter’s frustrations with “shrinkflation.”

Here’s everything we talked about today:

- Trump administration cancels clean energy grants as it prioritizes fossil fuels by AP News

- What Trump's budget cuts could mean for the environment by AP News

- The Race to the Top in Six Charts and Not Too Many Numbers from RMI

- Republicans haggle over green tax credits as battle lines deepen from Politico

- How We Survive from Marketplace

- Trump’s trade war with Canada has backfired on America. Now he has a crucial meeting with Mark Carney from CNN Business

- Trump knocks Canada ahead of Carney meeting by The Hill

- @carlquintanilla.bsky.social‬ on Bluesky

- What you need to know about the REAL ID requirements for air travel from NBC News

- Real ID deadline is weeks away and most states aren't fully compliant yet from CBS News

- Seattle Restaurants Are Offering Canadian Tourists a Discount, and an Apology by Eater Seattle

Got a question or comment for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.

The Trump administration is hoping tariffs will spur companies to bring manufacturing back to the United States. But a new survey from the Federal Reserve Bank of Dallas found that most companies are planning to deal with tariffs another way. (Spoiler alert: we totally saw this coming!) We’ll also discuss how the Department of Homeland Security is hoping to cut the cost of mass deportations. Plus, did Trump get the idea to reopen Alcatraz from a movie?

Here’s everything we talked about today:

-Post on Bluesky from Carl Quintanilla

-"Tariff Politics; Rent-Stabilized Tenants May See a Rent Hike; Surviving Wall Street; Celebrating NYC's Mexican Communities" from The Brian Lehrer Show 

-"DHS Announces Historic Travel Assistance and Stipend for Voluntary Self-Deportation" from Department of Homeland Security 

-"US offers $1,000 stipend to encourage migrants to self-deport" from Reuters

-"Mass Deportation: Devastating Costs to America, Its Budget and Economy" from American Immigration Council

-"Trump Seems to Have Decided to Reopen Alcatraz Because of a Movie" from The New Republic

-"Trump Says He Wants to Reopen Alcatraz as a Functioning Prison" from The New York Times

-"Met Gala 2025: Highlights from exhibit of Black style and designers" from AP News  

-​"'Tailoring Black Style': Dandyism shines at the 2025 Met Gala" from NPR

Got a question for the hosts? Email [email protected] or leave us a voicemail at 508-U-B-SMART.