Federal funds to keep the heat on this winter are stalled

Summary

Marketplace Morning Report – Episode Summary

Episode: Federal funds to keep the heat on this winter are stalled
Date: October 23, 2025
Host: David Brancaccio

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Overview

This episode of Marketplace Morning Report focuses on the economic ramifications of the ongoing federal government shutdown, the impact on essential assistance programs like LIHEAP (Low Income Home Energy Assistance Program), and recent federal moves in tech industry investments. Listeners also hear quick-hit business headlines, updates on the "Beyond Meat" stock frenzy, and personal stories from those relying on stalled government support as winter approaches.

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Key Discussion Points & Insights

1. Federal Stake in Quantum Computing Firms

[01:03–02:22]

• The Trump administration is considering acquiring equity stakes in quantum computing companies (e.g., D-Wave Quantum, Ionq).
• The proposed support involves a minimum of $10 million to each company, in exchange for potential royalties, revenue sharing, or licenses to resulting intellectual property.
• Such moves follow previous federal investments in sectors deemed strategic, e.g., rare earth minerals and chip manufacturing.
• These deals are still pending and could change.

Quote:
“The Journal says they would get a minimum of $10 million each and the government could get royalties, revenue sharing, or licenses to intellectual property.”
—Nancy Marshall Genser, [01:37]

2. Economic Impact of the Ongoing Government Shutdown

[02:22–03:50]

• The federal government shutdown has reached day 23, with major ripple effects across the economy, especially for workers and vulnerable citizens.
• Over 750,000 workers have missed paychecks, with many military and civilian personnel affected.
• Economic stress is evident in rising food pantry and soup kitchen use as families struggle without paychecks.

Notable Exchange:
David Brancaccio: “You just mentioned places where families get food, about food pantries or quote unquote, soup kitchens.”
—[02:56]
Diane Swonk: “Yes, exactly…We tend to see rise in their use during government shutdowns because of the lack of funds that government workers have. And this is a shutdown that's much more complete. It hits a lot more workers…”
—[03:07]

3. Market News: Beyond Meat’s Volatile Stock

[03:51–04:35]

• Community-driven investing online has spurred a massive but unstable stock rally for Beyond Meat, whose share price soared by 600% and then plunged by 16% in one morning.
• Emphasizes the unpredictable nature of retail investor trends and social media-driven market moves.

4. LIHEAP: Critical Winter Heating Aid in Jeopardy

[05:37–08:48]

• LIHEAP, which helps low-income Americans pay for winter heating, is in limbo due to the government shutdown.
• Despite budget proposals including funding, no federal money has been released yet, threatening timely disbursement as cold weather sets in.
• Personal Story:
  • Linda Botica, a 74-year-old Chicagoan, depends on LIHEAP; with dwindling benefits, she conserves heat by wearing her coat indoors.

Linda Botica: “I'm at the point where after I pay my rent, I only have like $200 to live on for the month.” —[06:20]
“I’ll sit with my coat and you know it's only me here. I know it sounds so ridiculous, but it’s reality.” —[06:40]

• Local nonprofits can't hire seasonal staff or process new applications while funding is stalled.
• States like Massachusetts are relying on limited carryover funds, warning their ability to help families will disappear soon without new federal support.
• Katrina Metzler (National Energy and Utility Affordability Coalition) expresses worry over timely fund releases and system reliability amid ongoing political uncertainty.

Liz Barrabee (Citizens for Citizens, MA): “We’re just asking for patience because you may not be able to get through to us. But if you are in emergency, you know, just please keep trying.” —[07:33]

Edward Augustus (MA Secretary of Housing and Livable Communities):
“We think it'll serve about 11,000 families. But unless this government shutdown ends, once we run out of that $7 million, we'll have nothing to help eligible households with.” —[07:54]

Katrina Metzler:
“We don’t know whether those funds will be released in a timely manner and whether the typical way that the government works will be what we can expect this year. It’s just throwing everybody off.” —[08:24]

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Notable Quotes & Personal Moments

• Diane Swonk: “This is a shutdown that’s much more complete. It hits a lot more workers than we saw in 2018 and 2019...” —[03:20]
• Linda Botica: “I only have like $200 to live on for the month… I know it sounds so ridiculous, but it’s reality.” —[06:20, 06:40]

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Segment Timestamps

• Quantum Computing Investment News: [01:03–02:22]
• Government Shutdown Economic Impact: [02:22–03:50]
• Beyond Meat Stock Frenzy: [03:51–04:35]
• LIHEAP and Winter Heating Worries: [05:37–08:48]

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Conclusion

This episode underscores how Washington's gridlock directly affects both technological innovation and the daily lives of ordinary Americans heading into winter. Key social programs teeter on the edge, families tighten their belts, and even the stock market seems to careen unpredictably, all while cold weather threatens the vulnerable.

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For anyone seeking an efficient, fact-rich summary of this Marketplace episode, this breakdown covers all the crucial news and personal stories the show delivered.

Transcript

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[C]

In Federal Government Ownership of the Private Sector I'm David Brancaccio in Los Angeles. There are published reports today that the Trump administration is planning to take stakes in several companies developing a new generation of super fast computers using what's called quantum technology. This would follow US Investments in other industries like rare earth minerals and computer chip design and manufacturing. Marketplace's Nancy Marshall Genser has the latest.

[D]

The Wall Street Journal is reporting that quantum computing firms like D Wave Quantum and Ionq are talking with the Trump administration about giving the government a stake in their companies in exchange for federal funding. The Journal says they would get a minimum of $10 million each and the government could get royalties, revenue sharing, or licenses to intellectual property. Quantum computing uses quantum mechanics to solve problems that classical computers can't handle or would take too long to figure out. It could revolutionize field biology, finance and the pharmaceutical industry. The Trump administration has already taken stakes in the computer chip maker intel and MP Materials, a rare earths mining company. The Journal says the potential deals with the quantum computing companies haven't been finalized yet and are subject to change. I'm Nancy Marshall Genser for Marketplace.

[C]

It's October 23rd, meeting day 23 of the Federal government shutdown. This reverberates across the economy. Diane Swonk is chief economist at the audit, tax and advisory firm kpmg.

[E]

Yes, we do know that. You know, for one, over 750,000 workers have gone without a paycheck since the beginning of the month. Some military personnel have been paid but are not likely to get a second paycheck during the month and mortgages are coming due. What we watch for is everything from traffic at places people can get food for their family because they are now without funds.

[C]

I mean, Diane, you and I often are talking about big macroeconomic numbers, but you just mentioned places where families get food, about food pantries or quote unquote, soup kitchens.

[E]

Yes, exactly. And that is sadly a sad thing. We tend to see rise in their use during government shutdowns because of the lack of funds that government workers have. And this is a shutdown that's much more complete. It hits a lot more workers than we saw say in 2018 and 2019 when we had that 35 day shutdown which, you know, many credit the TSA agents and the air traffic controllers for bringing to and because of their working without pay for so long and the burnout that it caused.

[C]

All right. And as we speak, no end in sight to the partial government shutdown. Diane Swank, chief economist at kpmg. Thank you.

[E]

Thank you.

[C]

And the latest craze where individual investors go online, share info and target stocks in sometimes counterintuitive ways focuses now on Beyond Meat, the fake hamburger company. They drove the stock up by 600% from a low in recent days, but that Stock is down 16% this morning so far.

[F]

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[C]

With the chill coming on, lower income Americans will be depending on a program that helps them heat their homes. It's called the Low Income Home Energy Assistance Program. Sorry about the clumsy acronym liheap. Every year, the federal government provides states, tribes and territories with several billion dollars to help eligible families pay to heat or cool. The Trump administration proposed eliminating the program, but committees in both the House and the Senate included it in their budget proposals. But until Congress passes a spending heating assistance funds are running low just in time for winter marketplaces, Henry Epp reports.

[G]

74 year old Linda Botica lives alone in Chicago. Her monthly Social Security check, she says, is her only source of income.

[H]

I'm at the point where after I pay my rent, I only have like $200 to live on for the month.

[G]

Which means LIHEAP is crucial for her in the Chicago winter. She's received it for five years, but her annual benefit, she says, has shrunk each year. So she keeps the temperature on her Elect baseboards pretty low.

[H]

I'll sit with my coat and you know it's only me here. I know it sounds so ridiculous, but it's reality.

[G]

Receiving LIHEAP assistance to keep the heat on was reality for 5 million American households in fiscal year 2024. The money flows from the federal government to states, then typically to local nonprofits which sign up residents for assistance. Usually households that get their applications in quickly find out how much assistance they'll get for the winter around November 1st.

[I]

And that is absolutely not going to happen this year.

[G]

Liz Barrabee is the head of Citizens for Citizens, the nonprofit that administers LIHEAP in southeastern Massachusetts. Even if Congress approves LIHEAP funding, she expects it'll take weeks for that money to get out the door. Which means for now, her organization isn't hiring seasonal staff. It typically brings on at this time of year to process thousands of LIHEAP applications.

[I]

We're just asking for patience because you may not be able to get through to us. But if you are an emergency, you know, just please keep trying.

[G]

States can carry over some leftover federal LIHEAP money each fiscal year. Massachusetts Secretary of Housing and Livable Communities Edward Augustus says the Commonwealth has about $7 million on hand.

[B]

We think it'll serve about 11,000 families. But unless this government shutdown ends, once we run out of that $7 million, we'll have nothing to help eligible households with.

[G]

Earlier this year, the Department of Health and Human Services laid off most of the staff administering liheap at the federal level, funding still went out, says Katrina Metzler, head of the National Energy and Utility Affordability Coalition. But she worries about the program's future. Even if it gets funded.

[I]

We don't know whether those funds will be released in a timely manner and whether the typical way that the government works will be what we can expect this year. It's just throwing everybody off.

[G]

In a statement, a spokesperson for the Department of Health and Human Services blamed Democrats for the government shutdown and said it will work swiftly to administer annual awards once the government reopens. I'm Henry Apt for Marketplace, and in.

[C]

Los Angeles, I'm David Brancaccio. It's the Marketplace Morning Report from apm, American Public Media.

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