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Trump’s recession fears

TicToc Tonight
Bloomberg

Greetings, TicToc readers! End the day smarter with our Tuesday debrief:

But first...

Trump floats a payroll tax cut

President Trump admitted he's weighing a payroll tax cut to boost the economy, even though the White House spent the past day saying the opposite. Earlier Tuesday, White House spokesman Hogan Gidley denied reports the Trump administration was considering temporary payroll tax cut as economists fear a looming recession. Hours later in the Oval Office, Trump said the exact opposite: "Payroll taxes is something that we think about, and a lot of people would like to see that." He then slammed the Fed for not cutting interest rates fast enough: "If the Fed would do its job, we'd have a tremendous spurt of growth." 

More: 

Highly quotable

"Great disloyalty." Trump said Jews who vote for Democrats are ignorant right after he called Rep. Ilhan Omar "a disaster for Jewish people."

"Irresponsible." Italy PM Giuseppe Conte resigned after lashing out at Matteo Salvini for pursuing his own interests over his coalition.

"We are part of nature." Bernie Sanders said humanity has waged "war against nature" by ignoring the causes of climate change. 

$ignificant figures

$9.99: The monthly price Apple is eyeing for its Apple TV+ subscription service that's set to launch in November

72,000. How many fires have burned through Brazil's Amazon rainforest in 2019, the highest number recorded since at least 2013.

19 days: How long the Open Arms migrant ship was stranded off Italy before a prosecutor seized the vessel and evacuated dozens aboard.

What's good

Worth a standing O. A traveling theater troupe in Egypt is helping farmers cope with the effects of climate change with plays that introduce new, more efficient farming techniques. And it's working: Both wheat and sugarcane output have increased around 30%, while water use has decreased by the same amount. 

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-Andrew Mach

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