About this episode

The episode discusses the federal budget as a moral document and examines the implications of the strategic petroleum reserve amidst current geopolitical tensions.

This week we read the federal budget the way it’s meant to be read: as a moral document. What it shows is individuals paying more, corporations getting refunds, classrooms getting gutted, and the pentagon getting fed, all while the deficit stays exactly where it always was. The “fiscally responsible” costume is just that. Then we looked at the strategic petroleum reserve, which is sitting at 1983 levels after nearly 100 million barrels drawn down since the Iran war began—and with China about to reenter the market and the strait still choked off, the traders who’ve been keeping oil prices contained are running out of room. Chapters Intro: 00:00:38 Quick Takes: 00:01:25 Max Notes: 00:05:57 Killer Left Take of the Week: 00:18:04 Chart of the Week: 00:19:28 Headlines: 00:21:35 Outro: 00:22:36 Resources ABC News: Senator Lindsey Graham’s sister will complete the remainder of his term Fox News: Trump REVEALS what Lindsey Graham told him before his death CNBC: Elon Musk and Sam Altman spar on X after Apple files OpenAI lawsuit The New York Times: How Marco Rubio Is Running Venezuela From Afar PBS News: Who is Darline Graham Nordone, the late Sen…

Topics covered

• federal budget
• moral document
• deficit
• strategic petroleum reserve
• oil prices
• military spending

Keywords

• federal budget
• deficit
• strategic petroleum reserve
• oil prices
• military spending
• Iran war
• Lindsey Graham

Mentioned in this episode

Organizations: ABC News, Fox News, CNBC, The New York Times, PBS News, Peter G. Peterson Foundation, CNN, Reuters

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