Biden's Cancelling | Disaster in Congress

hey everyone meet kevin here y'all just

cannot make this stuff up okay today was

a crazy enough day in the stock market

but guess where it was a crazier day in

congress it was literally a nuts okay

there's so much at play here and you're

gonna want to listen to this one from

chuck schumer oh my gosh honey we

started on a cinema and mansion

and what we can expect in terms of the

debt ceiling

the budget

a government shutdown stimulus

and much more let's buckle up and get

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for order flow all right folks let's get

into it so wow crazy day chuck schumer

said this morning that he would ask the

senate for consent to hold a vote to

increase the debt limit he was trying to

get unanimous consent

what do you think happened

it didn't happen okay now schumer's

rationale was simple okay on monday

republicans said no we are not going to

extend the budget through the end of the

year and at the same time raise the debt

ceiling through the end of 2022 we're

just not going to do that so schumer's

like fine you don't like the bundle how

about unanimous consent for the debt

ceiling oh no you don't like that either

so guess what he's doing now

how about

we get a bill that just extends the

government's budget so we don't have to

shut down in two days because the

government's budget expires on september

30th and i'm filming this right here on

september 28th on the evening of the

28th and i'm still drinking coffee

because clearly i need more

now

nobody's actually expecting that

schumer's really going to just get the

budget deficit bill extended but it's

possible because democrats are coming

around suggesting that look what's at

the very least

get the budget extended via a stop gap

bill through the end of the year and

let's just drop all other requirements

about the bipartisan infrastructure

package about the uh you know the debt

ceiling let's just focus on funding the

government so we don't shut down the

government on friday now this creates a

really interesting dynamic because

democrats are gonna say okay okay okay

we know you don't like the debt limit

but you do want to prevent the

government from shutting down

republicans so let's agree on that

the problem is republicans know how this

game is going to play out if republicans

say yes let's go ahead and fund the

government through sep through december

then democrats can just raise the debt

ceiling and do the three and a half

trillion dollar infrastructure plan

scot-free over the next three weeks get

a reconciliation plan done before

october 18th which we'll talk about in a

moment and boom democrats get everything

that they want republicans are therefore

unlikely to help democrats actually get

the government funded through december

so this creates this really crazy

negotiation that we've got where the

government even though we're supposed to

have a vote tomorrow and this is going

to be tense okay we're going to see

which way republicans are going to go

are they going to you know give it to

the democrats and they're going to say

all right let's just fund the government

through december then you guys do you

regarding the debt ceiling and the

infrastructure packages that's fine or

are they going to say no no sign our

bipartisan infrastructure package and

then maybe we'll consider extending the

government's budget they might do that

because remember nancy pelosi said she

was going to sign

and and have a vote on of course she

doesn't sign it she calls for a vote on

uh calls for a vote on the bipartisan

infrastructure package the 1 trillion

package on monday she never did that

instead she said oh we'll we'll start

debating this week and

we'll vote on it on thursday

okay so this is where you see the

democratic mo is right now democrats are

saying okay

let's try to get the government funded

through december on wednesday

then on

thursday let's try to pass the

bipartisan infrastructure package then

let's raise the debt ceiling and deal

with our 3.5 trillion infrastructure

package

and this all needs to get done before

october 18th because janet yellen tells

us that x date that is the date that we

are officially defaulting on things like

social security the child tax credit

payments defaulting on uh social

security i already mentioned social

security payment but our bond payments

that's the day that's literally the day

we run out of money now remember what

the debt ceiling does very very

important raising the debt ceiling make

sure we can continue paying the

obligations that we've already agreed to

pay for this whole debt ceiling debate

by the way never used to be a big issue

until it became politicized we had much

more of uh when republicans are in power

democrats say no when democrats are in

power republicans say no things have

gotten a whole lot more polarized over

the last 20 years and so hence the debt

ceiling is now a big negotiation that we

have all the time janet yellen says if

we don't end up raising the debt ceiling

we could literally go into economic

calamity those were her words that we

could have a self-made recession a

manufactured crisis

a self-inflicted crisis for her words

crazy

uh obviously we expect somehow the debt

ceiling in the government will will get

extended and funded we'll see how it all

plays out

but

remember folks we still have the issues

at hand right now we have until the end

of the day thursday to get the

government funded and the ideas at play

now are hey

maybe

maybe just maybe we can get kirsten

cinema the democrat in the senate who's

vastly opposed to the three and a half

trillion dollar infrastructure package

who however vote that they need they

need her vote to get it done and joe

manchin who's vastly opposed to the

three and a half trillion dollar package

as well wants it to be closer to one and

a half to two trillion dollars they want

to get these two people on board super

desperately so that way democrats can

literally try to get everything done at

the same time best case scenario for

democrats is government gets funded debt

ceiling gets raised and they get their

three and a half trillion dollar deal

but literally at every step of the

process democrats are getting

roadblocked it got so bad not gonna

believe this okay got so bad that joe

manchin and kirsten cinema visited biden

at the white house today the

conversation apparently went so freaking

poorly that joe biden literally canceled

all of his plans the next day joe biden

was expected to fly to chicago to

promote covet vaccines

and instead

political reported that kirsten cinema

is quote not there

and reluctant to engage

in any kind of negotiations until the

bipartisan infrastructure bill passes

the house but remember nancy pelosi is

not passing the bipartisan

infrastructure package until the

government gets funded everything is

literally worst case scenario right now

for democrats democrats are screwed on

the one trillion dollar infrastructure

package because progressives say they

will not vote for the one trillion

dollar infrastructure package until the

three and a half trillion dollar package

is done but they can't negotiate the

three and a half trillion dollar package

until kirsten cinema is on board because

she's a key vote and so is joe manchin

until the 1 trillion packages so it's

literally this it's literally a cluster

disaster of this leading joe biden to

cancel his travel to try to negotiate

this all together then you have people

like ro khanna a representative railing

on kirsten cinema for for basically

being this hold up or this this

roadblock basically

schumer then reportedly had lunch with a

group of senate democrats to try to ease

their concerns over the government

shutting down this friday because nobody

who's running for a competitive election

coming up here in 2022 wants to have on

their reputation that they participated

in a government shutdown

nobody wants or that they were

potentially to blame for a government

shutdown nobody wants that so schumer

walked his members through the process

how they want to get things done again

they want to get the 1 trillion

infrastructure package passed they want

to get the budget extended they want to

get the debt ceiling and they want to

get the three and a half trillion dollar

package they want to get all these

solutions how they're going to get

everything when everyone's fighting

against them tooth and nail right now

i have absolutely no idea now i'll

speculate on my thoughts here in just a

moment but let's just say things are

getting pretty intense especially since

you've got bernie sanders now

encouraging people to sandbag nancy

pelosi's vote on thursday until the full

three and a half trillion dollar bill is

ready like

i'm running out of arms here to point

fingers because let me just bottom line

it for you right here

budget uh the government getting funded

probably a good chance that we'll get

the government funded through december i

think the government's gonna get funded

i think that'll be okay

hopefully we avoid a government shutdown

we'll know tomorrow though

i'm like

55 45 because i'm hopeful that our

government gets funded but i'm also

hedging my bets here okay i'm not that

hopeful uh it wouldn't surprise me for

republicans to say no because it

benefits them because it throws the

democrats into a a swirl basically of oh

crap now we have a government shutdown

pressuring us while we're trying to

negotiate a three and a half trillion

dollar infrastructure package what

republicans want to do is get the

democrats to burn their one-time use

reconciliation option that would mean

they extend the budget and a debt

ceiling maybe but they don't get that

three and a half trillion dollar package

done at all that burns and we never end

up getting social infrastructure which

means none of that paid leave the paid

child care

or the recurring child care tax credits

uh the 300 for a children under six the

250 per month for children under 18

within income thresholds of course which

janet yellen made clear today she wants

that to be permanent she wants to be

permanently included as something just

society does to because she believes

that most people who are receiving this

money are using it to pay for food and

clothing and she says that that

individuals who are receiving this money

are reporting that they're no longer

food insecure that many of them are no

longer food insecure like they had

previously reported so this is a big

deal to her now you've got other drama

going on as well like for example today

you had elizabeth warren calling jerome

powell a dangerous person saying that

republicans like jerome powell at the

federal reserve are the kinds of people

who sow the seeds or plant the seeds i

should say supplant the seeds of

financial crises like what we had in

2008 and therefore opposes the

re-nomination of jerome powell to the

federal reserve

you had other people complimenting

jerome powell but then you had

republicans like tim scott say it's not

fair for us to tax uh for all these new

things in the three and a half trillion

dollar plan when the last thing we need

is more handouts and payments for people

and he goes as far as saying the child

tax credit isn't helping anyone you've

got people complaining about rent relief

because congress got emergency rent

relief out but so far has not gotten

help out to everybody who needs it and

we've got the eviction crisis upon us

with many states eviction protections

expiring here also in two days the same

day the government shuts down well the

next day is when the government shut

down but when our budget expires

then you've even got tim scott going as

far as saying these programs are

inflationary and how are we going to pay

for them to which of course janet yellen

replies and says well we're going to pay

for it by taxing people more to which

tim scott says well if you tax people

more than you're going to hurt the

economy why would people invest if

capital gains are now instead of 23 43

or corporations are going to have to

pass on higher fees to their customers

or consumers janet yellen replies to

this and says hey look

you all lowered taxes in 2017 with the

trump tax cuts we didn't see a whole lot

of extra investment so maybe the

opposite is also true if we raise taxes

investments won't actually go down it's

kind of their argument so

folks

let me just put it this way all this

stuff is freaking exhausting

but this is all of the drama of congress

and you clicked on the video to get a

summary but i want to clean all of this

up right now

let me clean this up

step number one tomorrow we're going to

focus on is the government going to shut

down or not that's number one if it

doesn't shut down

that's good that means we passed the

stop gap resolution it means republicans

are on board the government doesn't shut

down cool we could take a deep breath

the government's going to keep getting

funded then we got to talk about the

debt ceiling which means democrats got

to get a three and a half trillion

dollar infrastructure plan done or

something smaller within three weeks

they got to get it done by uh

essentially october 18th the x date so

that way they could raise the debt

ceiling and pass the infrastructure

package which may end up being a

compromise package somewhere around 2.9

trillion dollars who knows joe biden

says no but then again he also cancels

he canceled this trip tomorrow because

he realized he's getting pancaked

okay so we're going to take this one

step at a time is the government going

to shut down yay or nay we should know a

lot more on that tomorrow now the house

might pass something right away but

what's more important is the senate and

that's where we're actually going to be

first tomorrow is the senate is going to

take up a vote tomorrow the house

already by the way passed a budget and

debt ceiling bill but that already got

rejected by the senate so don't get

confused by that one chuck schumer pay

attention to the senate tomorrow

is the senate are republicans going to

support funding the government yay or

nay if they do great takes a lot of

pressure off all of the drama if they

don't

things are about to get real heated over

the next couple weeks it's gonna be

intense so buckle up subscribe if you

want more updates on this i know this

was a lot to take in and it was a lot

to spit out

in a one take with no editing

and that's why you gotta get life

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watching and until the next one

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