What Joe Biden JUST Said [State of the Union]

hey everyone me kevin here it's been a

while since i've done one of these

walking videos but anyway we got to talk

about what joe biden just said so very

similar to the election in my opinion uh

very motivating and a lot of talk about

what we can do as congress together

unfortunately that's not much right now

because we're very divided but i'm going

to give you a summary anyway of what was

said so very similar to the election

however importantly he starts with

russia and this makes sense that he

started with russia he talks about how

freedom will always win over tyranny

that putin has been miscalculated that

he met a wall of strength he met the

ukrainian people he did not mention

zielinski by name which i think was a

little bit of a mistake he should have

mentioned zalinski because he's freaking

amazing he is the glue

keeping ukraine together in my opinion

biden says that light will win over

darkness and that dictators will pay the

price

putin thought that he could divide us

but we're united we shared the truth and

countered his lies and quite frankly you

have to say

we did hear jens hacky and biden

multiple times tell us what they

expected was going to happen and

ultimately those things did happen so

you have to give them credit for that

biden talks about how we are choking 630

billion dollars of assets from putin now

this

all right this this takes a little bit

of delving into okay so the

uh russian sovereign wealth fund had

about 186 billion dollars of uss well

dollar assets right

they have mostly divested from those

over the last four years however

their banks and institutions still have

about 630 630 billion dollars worth of

u.s assets so this is true

joe biden also goes on to say that the

russian economy is reeling and this is

also true their stock market has fallen

40

the rupal has

essentially halved in valuation

if you look at how many dollars uh

well i should say how many rupal the

dollar bought you used to be able to

spend 50 rupal by the dollar then it

turned to 70 ruble to buy the dollar now

it's like 107. it's it's absolutely

ridiculous and so uh

biden makes a very fair claim here that

the russian economy is getting destroyed

because of this war and he's not wrong i

mean people are getting stuck in the

subways because they can't use apple pay

and google pay their currency is losing

value like crazy it's gotten so bad that

apple has decided you know what we're

not going to sell in russia anymore you

know why folks

it's not because apple's trying to stand

up for ukraine which okay in part

probably they are because everybody

should be standing for ukraine it's

because you know what people do is they

hoard the apple products by buying them

they use that as an inflation hedge and

then they go sell it on ebay later and

then they take away the new customers so

they just use the apple products as a as

an inflation hedge right anyway

so uh then we now have announced a task

force to target oligarchs from the

russian economy but not just target them

but to also seize their assets this is

quite unique when you conduct sanctions

usually you don't seize assets so

seizing russian assets that's actually a

big deal now our forces will not engage

says joe biden in ukraine however we

will defend every inch of nato this is a

big deal defending nato big big big deal

he's also talking about releasing 16 to

30 uh million barrels of oil from our

strategic oil reserve 16 from countries

and sorry another 30 from the united

states strategic oil reserve in fact

check me on those numbers though but

it's worth noting that the united states

uses about 19 billion barrels i'm sorry

billion 19 million barrels of oil per

day

but

if you dedicate these additional let's

say 30 plus 16 to natural gas or i

should say uh gasoline either of those

then you can lower energy costs or fuel

costs so yeah you could actually have a

blunting because oil is used for a lot

of things from not just energy but also

plastics right

joe biden got cheers when he said we're

going to build from the bottom up and

the middle out he regularly gets cheers

on that during the election sort of

campaigning period he got those as well

he says we're going to repair 65 000

miles of roads and 1500 bridges we're

going to build back better and this is

where he really pitches the buildback

better plan the problem is nobody wants

to build a better plan at least on the

republican side you're not getting any

votes on the republican side and you're

not getting joe manchin why because joe

manchin today came out with a whole list

of demands and his list of demands were

we want american oil

if you want to ultimately deal with the

oil crisis we have we should ultimately

frack our own oil and pump our own oil

rather than relying on foreign nations

and this is a position of mansion that

unfortunately is going to stand in the

way of joe biden's buildback better plan

uh because joe manchin is really worried

about inflation which we'll talk about

inflation in just a moment first gotta

talk about evs ford got a mention for

investing 11 billion dollars in electric

vehicles creating 11 000 jobs gm gotta

mention for seven billion dollars of an

investment and four

000 jobs guess what didn't get a mention

tesla no surprise

come on my come on

why you got to do that to me anyway

no mention of tesla tesla last year

spent eight billion dollars just on cap

x and they create 70 000 jobs but as

usual no mention of tesla whatever

then we talked about inflation though

talked about inflation one third of last

year's inflation was due to cars says

joe biden that's great joe biden

unfortunately jerome powell told us in

december of 2021 that inflation had

broadened to many more sectors and it

doesn't freaking matter

that inflation initially started with

just cars

joe biden says we have a choice to drive

down wages and make people poor or

here's a better idea lower costs

great joe biden

well joe biden's answer for lowering

costs is the build back better plan

which he says

17

uh noble

laureate winning economists say will

actually lower inflation

problem is republicans don't believe him

and not only republicans don't believe

him kirsten cinema and joe manchin are

doubtful and it's a problem

so

i don't believe that joe biden's

buildback better plan is going to pass

anytime soon and unfortunately this was

really his thesis for fighting inflation

he didn't talk at all about raising

interest rates he didn't talk at all

about the federal reserve other than

saying that the senate should confirm

his federal reserve nominees there was

really no talk at all about interest

rates or the stock market it was focused

on we should have a fifteen dollar

minimum wage we should spend more on our

build back better plan

but actually

very little at actually fighting

inflation

i thought that was unfortunate

however when he talked about build back

better and creating more

u.s jobs and producing more jobs in

america and not relying on foreign

supply chains guess what

he got a chance he got usa usa but you

know what the problem is

building stuff in the usa costs more

money which means more inflation

all right all right

right after that he talked about uh how

his plan will lower costs because we're

going to build back better we're going

to cut the cost of prescription job uh

drugs lower the cost of electric

vehicles lower the cost of medicare by

allowing medicare to negotiate and we're

going to provide tax credits to

weatherize our homes and our businesses

by increasing our energy efficiency and

doubling our investments into solar and

wind look i'm all for weatherizing i'm

all for doubling our investments into

solar and wind

but let's be real

bringing jobs to america does not lower

inflation it probably increases

inflation

then he talks about cutting the cost of

child care how we're not going to

increase taxes on individuals making

under 400 000 this was just a campaign

pitch regurgitated we're going to close

loopholes for the wealthy minimum

corporate tax rate okay another uh pitch

from his campaign

then he talks about how the previous

administration blew it basically allowed

individuals to steal from the pandemic

relief funds and so now we are going to

create a chief prosecutor for pandemic

fraud this got a lot of cheers now

problem is like 300 members of that

session were democratic so you're going

to get very very loud cheers and quiet

booze keep that in mind

talks about raising the weight minimum

wage to 15 talks about extending the

child tax credit talked about how we are

going to allow you to order more cova

tests by going to covatest.gov

this was actually useful if you want to

go to kovatest.gov next week put it on

your calendar you can order more free

tests next week so i would say maybe try

monday tuesday wednesday next week

but anyway remember raising the child

tax credit or i should say renewing and

extending the child tax credit this

provides 300 per child uh under six or

two hundred fifty dollars

for each child under eighteen

this is fine but there are a lot of

concerns that what the child tax credit

is actually doing is encouraging one

half of the family household usual

family dynamic assuming that it's two

people at home it is encouraging one

person to just stay home and not have a

job because then they can milk the child

tax credit stay within the income

threshold and we need more people

working because our unemployment

uh and wage prices are suggesting that

no no to avert

a wage price spiral crisis and an

inflationary crisis because of that we

need more people working not less biden

briefly mentioned

this is actually something i mentioned

when i was running for governor which i

know a lot of you were like oh my gosh

mr flip-flop governor gosh california

would have been off terribly okay maybe

others are just the haters hopefully but

anyway

the haters

are haters anyway so one of the things

that i said is we should not defund the

police we should fund the police like

fund better training literally what joe

biden said so

even though other people have said that

before i'm gonna take credit for it

thank you joe biden for uh

paying attention to my campaign

appreciate you anyway uh talked about

banning assault weapons with high

capacity magazines this is very popular

among democrats but let's be real those

of us who own firearms

who train with firearms

know that the law-abiding citizens

aren't the ones

shooting stuff up okay anyway uh then he

talks about how we have four big things

to do one beating the opioid

epidemic epidemic yeah

this is a big problem okay

fentanyl is the big issue right now it's

not so much heroin some of the other

drugs it's fentanyl

stay away from that stuff it is so

dangerous

number two taking on mental health

geez what did i talk about during my

campaign in california how why is it

that we teach pe in schools but we don't

teach emmy in schools mental education

as opposed to physical education right

uh and he also talked about stopping

advertisers from being able to collect

data from our children

interesting

supporting our veterans

comprehensive health care they deserve

that got a lot of attention and number

four making sure we have our advanced

research agency for health especially

for fighting cancer and having cancer

deaths i agree with that we need to do

that but what did we not hear

we didn't hear any pressure on the

federal reserve no pressure on interest

rates we didn't hear about tesla

no pressure on interest rates or the

federal reserve i think is kind of

interesting

it means in my opinion joe biden is

actually somewhat aligning with the fed

in saying hey

take it easy with the economy don't go

too harsh let's give some more credits

let's do some more handouts or whatever

that's fine that's fine

but

no massive concerns for inflation here

above and beyond let's pass bill back

better

it's not going to pass

why because joe manchin

that 50th vote

amongst democrats

is interested in expanding local oil

production which makes sense bring that

keystone pipeline back lower gas prices

sure joe biden talked about releasing

oil from the strategic oil reserve but

let's be real

if we use 19 billion

19 see i i the second time i made this

mistake if we use 19 million barrels a

day what's 16 and 30 going to do for us

what is 46 million barrels of oil going

to do for us

reduce our uh our needs for you know

two days and a quarter

i mean those are total needs so yeah

maybe there'll be a little bit of a

blunting effect to gas prices what 10

cents but what did we not hear here a

real plan for fighting inflation

we didn't really hear

a bipartisan plan for actually getting

anything done although his four points

were interesting

cancer and fentanyl fighting and things

like this those are bipartisan

but in terms of real action here

a little disappointed

no clear guidance here on inflation and

that's because i think he is diverting

to the fed to deal with that

and he wants to build back better plan

uh the buildback better plan fast which

i don't think is gonna happen and now

that i'm done with this summary

it's time to do something else

thanks so much for watching we'll see in

the next one goodbye