Changes! $1,400 Stimulus Check Update [March 2]

hey everyone we kevin here two changes

regarding a stimulus one

is a proposed change for future stimulus

this will be fascinating we'll take a

look at that first

then we're going to talk about a change

that could potentially derail the

current stimulus package

this is a freaking disaster i hate

congress so freaking much

pissed me off but you can still get up

to 250 dollars totally for free by

depositing money with blockfi

goodbye kevin.com bf to deposit money

with block fine and you can buy any

cryptocurrency well the cryptocurrencies

that they sell you

and getting up to 250 and get paid

interest on your cryptocurrency for

doing so

okay so let's get into the content so

first let's talk about this proposal

we've got a proposal from

the democratic senator ron wyden okay

here it is we're going to pull this up

we've got the full proposal and it is

dear president biden as we work together

to get much needed relief to american

families we appreciate your strong

support for direct payments and enhanced

unemployment insurance

for the millions of families affected by

this public health and economic crisis

we urge you to include recurring

direct payments aka stimulus checks and

unemployment insurance extensions tied

to economic conditions

in your build back better long-term

economic plan

okay so this is basically a letter

encouraging recurring stimulus in

biden's

infrastructure plan so not the current

stimulus bill no no no

we're going to talk about the bad news

with the current stimulus bill in just a

moment

but this is interesting because there's

a demand by democrats who are really

leading the charge here

on these negotiations in congress to

demand recurring

stimulus payments this crisis is far

from over

our families and families deserve a

certainty that they can put food on the

table

and keep a roof over their heads

families should not be at the mercy of

constantly shifting legislative

timelines and

ad hoc solutions yeah no freaking

kidding they're so

tired of having to even follow along

with with what the heck congress is

doing just to

feel like we have some semblance of

normalcy by staying updated because they

don't do it

it's not like they give us a clear

stimulus update because they suck

obviously they suck at communicating

amongst each other and we can't expect

anything better for us

anyway there are several reasons to

prioritize both recurring payments and

enhanced unemployment

for uh first two forms of payments the

two forms of payments

are effective together unemployment

insurance has replaced

lost income for millions who have lost

jobs but millions of others do not

qualify for unemployment insurance after

seeing

their hours reduced switching to a lower

paying job or temporarily leaving the

workforce and this is true there are a

lot of people who don't qualify for

unemployment insurance for various

different reasons i mean somebody who

was able to get by

with a 40-hour per week job but now got

cut to 25 hours a week they're still

considered

employed but they might not be able to

get by anymore so unemployment insurance

only covers a certain percentage of the

people that

actually need help an urban institute

study suggests that a single direct

payment of 1200

combined with an extension of enhanced

unemployment insurance and

other assistance could keep 12 million

people out of poverty and adding a

second direct payment could keep an

additional 6.3 million people above

the poverty line and i have to say i

don't know exactly why they're talking

about twelve

hundred dollars since we're talking

about fourteen hundred dollars here i

just wanna verify this is dated

for march of 2021. uh this is the letter

that was released

to the media so this came out today i

imagine once they actually send it to

biden and they all sign it they'll put

the date on the top here but anyway

okay so so data shows that basically you

can not only help people who need the

money stay out of poverty but you can

also

increase spending and support a job so

it's kind of like they're making the

argument that look

the reason you should put recurring

stimulus payments

into your infrastructure and jobs bill

is because we will give people the money

that they need so they can spend money

and actually keep the people you want

employed employed

kind of interesting almost 6 in 10

people say the 1400

payments set to be included in the

rescue package will last them less than

three months that's the last line here

in the paragraph

and of course they go on to say that we

want to reduce poverty and make sure

that people don't have to worry about

how they're going to be able to afford

food which the food crisis has been

incredibly

disappointing and sad third recurring

direct payments have shown wide support

in the general public both from

economic experts and they even mention

republicans here they say this includes

support from 54 percent of republicans

and and when they say support i think

they really mean for automatic

stabilizers like

if unemployment is above six percent

automatically

send checks to 500 a month i i don't

know they don't actually give us a

number here

just making something up maybe if

unemployment goes above eight percent

automatically send checks to people of

twelve hundred dollars

this is something that's very popular in

theory but it's very very very difficult

to see a congress actually get done

because it requires them

to have basically this potential for an

infinite budget you can't just put a

dollar figure on it

it's always going to be a dollar figure

plus and it's dependent on well what's

going to happen in the economy

it would make sense like it's logical

that oh crap unemployment's up and

automatically we get some kind of

unemployment boost that would be logical

but congress is far from logical i think

the reason they give for not doing these

automatic stabilizers it's just the

complexity of actually

uh budgeting for that uh and so i don't

think any of us as americans really care

about their complexities but i just want

to share

both sides as much as i can as you have

said now is the time for boldness as you

prepare your buildback better plan for

long-term

economic or the long-term economic

recovery know that we are ready to work

with you in support of recurring direct

checks

and extended unemployment insurance

benefits to support americans who are

still struggling during the pandemic

ron wyden elizabeth warren who had her

which we

talked about yesterday her wealth tax

proposal uh

we've got uh marky jill brand booker

brown

baldwin sanders padilla uh all all in

uh or on board with this letter or plan

uh all right folks so i don't know in my

opinion the odds of us

actually seeing that get in included

in the next stimulus or i should say see

even i'm getting confused

in the next infrastructure and jobs

build probably on the lower side but

then again democrats have control so

you know that's a chunk of senators

right here so we'll see what happens

now here's a different issue though

right now and this is the bigger thing

it's go time for the senate led by chuck

schumer and of course president biden to

show that they can actually get the

current stimulus package done

but of course now there is a new

roadblock because why wouldn't there be

another new roadblock

senator joe manchin is now demanding

that the unemployment pay be reduced

from 400

a week as a boost to 300 dollars

a week as a boost this is exactly why

i don't think that we will actually ever

see this recurring stimulus happen i

think it's a little bit of a pipe dream

although there could be a lot of click

bait around that uh i i do think

that people like joe manchin i mean now

he's quibbling over

a hundred dollars a week for you know

the period of time between

may and the end of or i'm sorry between

march and the end of august

which is when unemployment will get

extended to and

that could potentially derail the

package because

if they make another change like this

they take out the minimum wage provision

and they change the unemployment

that goes back to the house we don't

know if we're going to get all of the

house on board

with changes like that and they can only

afford to lose five seats

in the last vote they already lost two

so

it's frustrating there will be a roll

call vote this week in the senate and

we'll kind of get a feeling for how

people are voting

uh and and we'll get our basically with

the roll call vote we'll be able to see

who's going to be the troublemaker and

who needs to be uh

you know who needs their palms greased a

little bit

to get this bill through so we'll see

what joe manchin ends up holding out for

not not to mention any names anyway

wow okay recurring stimulus unlikely

interesting proposal

joe manchin causing problems nothing

really new here

so now go to the link down below and get

your 250 with block pipe by going to

mattkevin.com

bf and folks we'll see you next video

you