Failures... Debt Ceiling & $3.5 Trillion Dollar Stimulus Update

y'all have got to be kidding me with

congress here

look remember we've been talking about

this disaster already with what's going

on with the debt ceiling negotiation the

infrastructure discussions i just want

to give you a quick update on the latest

okay look

government agencies at this point are

being told to check their contingency

plans just in case we don't extend the

debt ceiling that comes after the fact

that this morning we had what was

supposed to be really good news that

ended up turning into a disaster janet

yellen nancy pelosi and chuck schumer

all got together and they said they

reached

an agreement we're like great

what are the details how are you going

to do the infrastructure bill

who's who's going to vote for this uh is

the senate going to vote for this

and we literally didn't get details what

we heard is after asking or once once

reporters actually drilled in like okay

what are the details of this deal you

guys have what we heard is that there's

essentially now a menu kind of like

you're at a restaurant deciding if you

want fish or beef tonight there's now a

menu of options for getting this

infrastructure and budget

solution

passed in the next few weeks

chuck schumer

quote

he used this menu phrase said quote a

menu of options that the house and

senate and president agree on and it

will have ample

pay force to pay for whatever final

agreement we come to

and so we're trying to figure out

exactly what these pay fors are and what

this agreement is republicans are like

we don't know anything about this

kirsten cinemas uh press secretary uh is

like yeah we haven't heard of what's on

this menu we don't know what these paid

fors our pay fors are expected to be

things like tax increases you've got the

progressives in the house of

representatives saying no we got to pass

this three and a half trillion dollar

bill it's a great bill it's basically a

zero cost bill because we're going to

tax the crap out of corporations and

rich people

okay okay i get the argument uh you know

it's gonna have some economic

implications as taxes tend to but

the point is this morning we have chuck

schumer nancy pelosi and janet yellen

saying hey we've come to a deal and what

they're saying is we've got a menu of of

options to figure out our deal so they

really have no deal i think what they're

trying to do is they're trying to convey

like oh let's get janet yellen together

nancy pelosi together from the house and

chuck schumer together from the senate

and let's act like we have our crap

together

but then let's not actually reveal

anything because we don't actually have

a path to solving this crisis yet

remember what they got to do they gotta

extend the united states government

budget

raise the debt ceiling and then pass the

infrastructure bill the three and a half

trillion dollar infrastructure bill at

the same time as negotiating with people

like joe manchin and kirsten cinema who

don't want to spend three and a half

trillion dollars joe manchin's

definitely afraid of inflation kirsten

cinema uh joe manchin wants to see the

bill worth somewhere around one and a

half to two billion or two trillion

dollars i'm sorry the number's so large

i messed that up uh kirsten cinema

hasn't mentioned how high she'd be

willing to go but she definitely wants

to see the number come down the reason

you have chuck schumer saying we're

gonna have plenty of pay fors is because

they want to raise taxes and then go to

cinema and mansion and say look it's

paid for it's basically a zero dollar

bill just sign here it's not going to

cost you anything it's like

interest-free

not really obviously it's just

figurative right

and so that's that's kind of the

disaster that's going on right now at

the same time

as the chairperson of the house

progressives caucus progressive caucus

is calling the september 27th deadline

to get the uh the uh one trillion dollar

infrastructure passed and artificial

deadline in other words forget that

nancy pelosi promised we were going to

get this vote on sept on on this monday

here september 27th she's like ah it's

just an artificial deadline let's get

the three and a half trillion dollar

package done and when she was asked in a

pbs interview hey well like what about a

smaller package she's like this is

already a smaller package we were

thinking about doing a six trillion

dollar infrastructure plan and it's like

oh my gosh like imagine saying that to

joe manchin and kirsten cinema but

anyway

uh you know she reiterates the same

thing she says all of this should be

seen as a zero dollar bill thanks to the

new taxes on corporations and the

wealthiest americans and we got to have

things like universal child care paid

leave these are very important we need

this to get the reconciliation bill done

uh and

so really what you're trying to put

together here or you know the easiest

way to do this is just to showcase this

again as usual on a little piece of

paper here

what the house is trying to get done i'm

going to show you the ideal okay so the

ideal

is that within the next three weeks so

we'll put up here uh three weeks within

the next three weeks we're trying to get

the house to pass the one trillion

dollar infrastructure bill this is also

sometimes called the biff because it's

the bipartisan infrastructure bill

then we're trying to get now i'm going

to make this a little larger here the

three and a half trillion dollar

infrastructure plan done because this is

going to get passed through

reconciliation anyway it's very likely

that the debt ceiling

and the

budget extending the government budget

will just be included in this three and

a half trillion dollar bill that's my

expectation the house did technically

pass a standalone bill for the debt and

the budget but that's not going to pass

the senate the senate's just not even

going to bother on this because it's not

going to happen

so really everything's going to come

down to just accelerating this

negotiation before the government shuts

down

so if they don't finish the negotiation

on this three and a half trillion

dollars the government's going to shut

down it's gonna be a disaster and we

could default on our payments

so that's where things stand now is

this vote is probably going to get

delayed until there's a lot more

progress over here republicans are gonna

have a field day freaking out about this

getting delayed but in the meantime

we're probably going to see a lot of new

updates on negotiations for this three

and a half trillion dollar i wouldn't be

surprised that this bill ends up getting

negotiated down to something smaller

maybe like 2.9 trillion dollars and we

end up getting some kind of compromise

where you get those 50 democrats like

kirsten cinema joe manchin on board with

doing this it's less expensive it's a

compromise in their direction but we get

this all done within the next two or

three weeks because we have to get this

done before mid-october so the

government might shut down or we might

default on our payments because we're

literally going to run out of money the

treasury department says we might not

run out of money until the beginning of

november so i think when they're saying

the middle of october there's a little

bit of a flex in there uh not like flex

like we're so strong more like

flexibility i think they've built in a

little bit of a buffer to make sure

there's no shutdown nobody wants to see

a shutdown and i don't actually expect

us to shut down or miss or default on

our payments i do not expect that

but this right here is my expectation

lots of negotiation coming over the next

three uh three weeks here really though

if you hear any kind of clickbait about

uh democrats having a plan now to get

this stuff done

there was no plan

i think i just drew a more comprehensive

plan than what nancy pelosi chuck

schumer and janet yellen have right now

now i know there's so much more

negotiating that they're doing obviously

they're living this they got to deal

with all these complaints they got to

deal with iron dome they got to deal

with the progressives they got to deal

with the aoc wanting to slash the

or you know military's budget

they got to deal with with uh

the people who don't want to spend as

much money who are democrats in the

senate uh obviously they're not gonna

get much help at all from from mitch

mcconnell and the republicans but uh so

so i get it like i get the complexity

here but this whole like show we had

this morning about oh we got a deal

there's no deal

nothing alright folks thanks for

watching this if you liked this make

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some more updates as they come in thanks

so much

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