Emily Blanchard, United States, Center For Responsive Politics discussed on Marketplace
Say Well, here is some. The Census Bureau told us this morning the trade gap. The trade deficit grew in August to the biggest. It's been in 14 years. We bought a bunch more from overseas. Then we sold Marketplaces. Justin How explains what's going on here? The fact that imports to the U. S Air Rising says a lot about how far the economy's come since the start of the pandemic, says he. For Prasad, a professor of trade policy at Cornell economical recoveries they usually associated with increases and demand for goods and services produced both domestically and abroad. That increasing demand for imports is a sign that consumers have more purchasing power. Emily Blanchard is a professor at the Tuck School of Business at Dartmouth College. It's a sign of rising consumer confidence. It's a sign that firms were buying imported inputs that they may need to produce things that will become tomorrow's exports. Harvard economist Ken Rogoff says the trade gap is widening because exports are not rising as quickly as imports and that could complicate the recovery. We need the rest of the world to demand more of our stuff to help her recovery. This month's gap is a sign that the US is recovering faster than many of the countries we trade with. Rogoff says the U. S. Could lose that lead if job gains taper off if a second stimulus package never arrives, or if the virus picks up again. I expect in the next few months are recovery's been slow down quite a bit. Still, there are reasons to be optimistic about exports in the long run. Emily Blanchard at Dartmouth says the US is a net exporter of services such as travel, financial and digital services. This is great. This is a source of comparative advantage. And so if that means that we produce fewer T shirts in the United States than I think that's probably OK. Blanchard says. Covert 19 has made American digital services say cloud computing and video conferencing even more valuable. I'm Justin, though, for marketplace tomorrow morning and every weekday morning don't miss the marketplace. Morning report David Brancaccio and the early crew setting you up for your economic day. Economy and business centric, though we are come on, everything is politics right now and more people than ever want to be political in this moment and are willing to spend on it, according to the Center for Responsive Politics this election Whole thing, not just dubbed the ticket is probably going to wind up costing almost $11 billion marketplaces. Kimberly Adams reports on one slice of the donor base that is getting bigger. Big money. Donors still play the biggest role in funding campaigns. Just 100 people have contributed 8% of the money is race. But according to the Center for Responsive Politics, donors who give less than $200 are starting to catch up, they have contributed 22% of all donations so far, which is much larger than in previous cycles. Sarah Briner is research director for the C R P, she says that's up from 14% 4 years ago. This year's small dollar total will be almost $2 billion, which is a lot of money coming from people who have been affected by the pandemic by the recession and also despite the pandemic, putting a damper on traditional fundraising events. I think that It just goes to show how concerned people are going into this election. Another reason for the rise of the small dollar donor technology online donation platforms aren't limited by lockdowns. It's much easier to give now act blew on the Democratic side and increasingly win red on the Republican side have made it very easy for somebody to give $5 or $10 to a candidate, David Primo teaches political science and business administration at the University of Rochester. Ah, and you know small donations are now in the billions of dollars and that's not something we would have seen a decade ago. Back then, small dollar donors played a much smaller role. This year. They're giving more than packs and super PACs combined in Washington. I'm Kimberly Adams for Marketplace. Coming up. That struggle reminds us how much of a civil right marriages how love and marriage and race factor into this economy. But first, let's do the numbers. Like I said traders saw those tweets from president pretty much packed it in down. Dust rolls down 3 75 1.3%. Close to 7 27,072 ought to tell you, though it was like a 600 point drop on the Dow because they were way up until the NASDAQ down as well. 177 points 1.5% percent half 11,000 won five for the S and P. 500 took a dip 47 points. 1.3% 33 60 degree was telling us about states and their economies. Couple of states Colorado, New York party, projecting their revenue is going to drop next year by close to 20%. That is, according to.