The federal government shut down on Wednesday, which in the near-term probably sounds worse than it is. Yes, 750,000 workers are expected to be furloughed and yes, certain functions including visitor centers at national monuments and the release of economic data will pause. But functions deemed “essential” are continuing: mail is still being delivered, courts are still open, airport security continues and animals at the National Zoo are being fed. 

In other words, you might be forgiven for ignoring the latest dispute, which stems from a White House insistence that Democrats vote for a new spending bill and Democratic leaders insist the Republicans restore some of the massive cuts to health care they pushed through earlier this year before millions lose coverage. But this shutdown may play out differently, as Justin Wolfers, the University of Michigan economist and author, explains on this week’s episode of Everybody’s Business. 

The White House, led by budget director and Project 2025 author Russell Vought, has indicated it wants to go beyond merely furloughing staff–and instead use the threat of a crisis to make the kinds of drastic job cuts Donald Trump attempted in the early months of his second term. Like many of those cuts, these too are arguably illegal and already being challenged in court. The first round, under the auspices of Elon Musk’s so-called Department of Government Efficiency, was both wildly unpopular and disruptive, leading to a backlash that ultimately may have cost Republicans a special election in Wisconsin and forced Musk to leave the White House. The government shutdown gives Trump—through Vought this time—a second bite at the apple.

Later on the episode, Bloomberg reporter Zeke Faux joins to talk about his latest story on Justin Sun, the crypto entrepreneur whose colorful life has included a diplomatic post in Grenada, spaceflights with Blue Origin, a prime minister post in a libertarian micronation and the purchase of one of the most talked-about works of art in recent memory. Most recently though, the headlines have centered around his dealings with Trump and how in just a few short months Sun managed to go from being sued by the Securities and Exchange Commission to seeing the case dropped and having dinner alongside the Republican president.

Finally, we discuss the Bustle story about a supposed vibecession in sex work. Apparently, “sugar daddies” are cutting back on payments to their romantic partners, who have derisively begun calling them “Splenda daddies.” Stacey explains why, vibecession or no, the entire phenomenon is depressing.

The federal government <a href="bbg://news/stories/T3FSEJGOYMTN" data-web-url="https://www.bloomberg.com/news/articles/2025-10-01/us-begins-government-shutdown-with-trump-democrats-at-impasse?itm_source=record&amp;itm_campaign=US_Government_Shutdown&amp;itm_content=Shutdown_Begins-0" data-cke-saved-href="bbg://news/stories/T3FSEJGOYMTN">shut down on Wednesday</a>, which in the near-term probably sounds worse than it is. Yes, 750,000 workers are expected to be furloughed and yes, certain functions including visitor&nbsp;centers at national monuments and the release of economic data will pause. But functions deemed &ldquo;essential&rdquo; are continuing: mail is still being delivered, courts are still open, airport security continues and&nbsp;animals at the National Zoo are being fed.&nbsp;
In other words, you might be forgiven for ignoring the latest dispute, which stems from a White House insistence that Democrats vote for a new spending bill and Democratic leaders insist&nbsp;the Republicans restore some of the massive cuts to health care they pushed through earlier this year before millions lose coverage. But this shutdown may play out differently, as Justin Wolfers, the University of Michigan economist and author, explains on this week&rsquo;s episode of Everybody&rsquo;s Business.&nbsp; The White House, led by budget director and&nbsp;<a href="https://www.bloomberg.com/features/2025-russell-vought-doge-musk-trump/" data-cke-saved-href="https://www.bloomberg.com/features/2025-russell-vought-doge-musk-trump/">Project 2025 author</a>&nbsp;Russell Vought, has indicated it wants <a href="bbg://news/stories/T3IJQPGP9VCY" data-web-url="https://www.bloomberg.com/news/articles/2025-10-02/trump-to-discuss-federal-job-cuts-with-white-house-budget-chief?srnd=homepage-americas" data-cke-saved-href="bbg://news/stories/T3IJQPGP9VCY">to go beyond merely furloughing staff</a>&ndash;and instead use the threat of a crisis to make the kinds of drastic job cuts Donald Trump attempted in the early months of his second term. Like many of those cuts, these too&nbsp;are arguably illegal&nbsp;and <a href="https://www.politico.com/news/2025/09/30/labor-unions-sue-omb-opm-00589170" data-cke-saved-href="https://www.politico.com/news/2025/09/30/labor-unions-sue-omb-opm-00589170">already being challenged in court</a>. The first round, under the auspices of Elon Musk&rsquo;s so-called Department of Government Efficiency, was&nbsp;both wildly unpopular and disruptive, leading to a backlash that ultimately may have cost Republicans a special election in Wisconsin and forced Musk to leave the White House. The government shutdown gives Trump&mdash;through Vought this time&mdash;a <a href="https://www.youtube.com/watch?v=nkMVb0RNptA" data-cke-saved-href="https://www.youtube.com/watch?v=nkMVb0RNptA">second bite at the apple</a>.
Later on the episode, Bloomberg reporter Zeke Faux joins to talk about his latest story on Justin Sun, the crypto entrepreneur whose colorful life has included a diplomatic post in Grenada, spaceflights with Blue Origin, a prime minister post in a libertarian micronation and the purchase of one of the most talked-about works of art in recent memory. Most recently though, the headlines have centered around his dealings with Trump and how in just a few short months Sun managed to go from being sued by the Securities and Exchange Commission to seeing the case dropped and having dinner alongside the Republican president.
Finally, we discuss the Bustle story about a <a href="https://www.bustle.com/life/sugar-daddy-meeting-in-this-economy-sex-lives-sugar-baby-money" data-cke-saved-href="https://www.bustle.com/life/sugar-daddy-meeting-in-this-economy-sex-lives-sugar-baby-money">supposed vibecession in sex work</a>. Apparently, &ldquo;sugar daddies&rdquo; are cutting back on payments to their romantic partners, who have derisively begun calling them &ldquo;Splenda daddies.&rdquo; Stacey explains why, vibecession or no, the entire phenomenon is depressing.

Bloomberg Businessweek brings you a smart and fun chat show about all things...business. Hosted by award-winning business and economics journalists Max Chafkin (author of The Contrarian: Peter Thiel and Silicon Valley’s Pursuit of Power) and Stacey Vanek Smith (former co-host of NPR’s Planet Money and reporter for Marketplace), Everybody's Business is powered by the unparalleled sources and reporters who bring you Businessweek magazine’s headlines and the stories behind them. The show gives listeners a window into the discussions happening in boardrooms, Zooms and group chats in power centers around the world. From interpreting Fed meetings to the business of wolf cloning, each week Max, Stacey and their friends at Bloomberg Businessweek guide listeners through what really went on during the last week from Wall Street and Main Street. Because what’s happening with money and markets is everybody’s business.

Bloomberg Businessweek brings you a smart and fun chat show about all things...business. Hosted by award-winning business and economics journalists Max Chafkin (author of The Contrarian: Peter Thiel and Silicon Valley&rsquo;s Pursuit of Power) and Stacey Vanek Smith (former co-host of NPR&rsquo;s Planet Money and reporter for Marketplace), Everybody's Business is powered by the unparalleled sources and reporters who bring you Businessweek magazine&rsquo;s headlines and the stories behind them. The show gives listeners a window into the discussions happening in boardrooms, Zooms and group chats in power centers around the world. From interpreting Fed meetings to the business of wolf cloning, each week Max, Stacey and their friends at Bloomberg Businessweek guide listeners through what really went on during the last week from Wall Street and Main Street. Because what&rsquo;s happening with money and markets is everybody&rsquo;s business.

Everybody's Business

Will the Shutdown Lead to DOGE 2.0?

https://api.omny.fm/orgs/e73c998e-6e60-432f-8610-ae210140c5b1/clips/3aa546db-9dca-4ea3-8021-b36a018573fd/transcript

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