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⚠️⚠️⚠️ #GovernmentShutdown #Stimulus #Inflation ⚠️⚠️⚠️
Infrastructure, shutdown, stimulus, inflation.
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⚠️⚠️⚠️ #GovernmentShutdown #Stimulus #Inflation ⚠️⚠️⚠️
Infrastructure, shutdown, stimulus, inflation.
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Everyone kevin here in this video. We got to talk about the government shutdown. We got to talk about some updates on the build back, better plan stimulus plan and we got to talk about pain for 45 of americans, and that has to do with the flay inflation, who is feeling inflation, the worst folks. Let's get right into this first, the senate actually passed the stop gap measure today this was unexpected.
We had a draft put together as in the form of a continuing resolution. This morning, the house earlier today passed the stop gap measure and the senate tonight by a vote of 69 to 28 passed the stopgap bill, keeping the government funded through february 18th. We had a deadline where the government could shut down as early as tomorrow evening. That's friday december 3rd, but congress actually pulled this off.
One of the reasons the senate was able to pull. This off is because democrats finally agreed to call a vote on senator marshall's amendment to block biden's vaccine mandate for larger employers. That amendment did end up failing by a vote of 50 or sorry 48 to 50.. That amendment failed so still no block against a biden's vaccine mandate or testing mandate for larger employers.
However, a lot of joe biden's mandates are being held up in the courts now. In the meantime, congress is still facing the debt ceiling deadline of december 15th, and this is where, sometime between december 15th and maybe early january, this is sort of a fluctuating date, but janet yellen says december 15th. The government would essentially fail to make its payments on its obligations. This is different from the budget, but does require us raising the debt ceiling, and so this is going to be another.
Can that congress has to sort of kick down the road? At the same time, congress is going to try to move forward on the build back better plan, though, if you actually think there's a chance to get this done in december, especially since the senate parliamentarian hasn't even reviewed the bill. Yet there are some things to note in the buildback better plan, specifically regarding healthcare. 3.4 million americans would gain health insurance via buildback better. We would expand health care for children, we'd make insurance more affordable for working age.
Adults we'd make insurance more affordable as well. For those on medicare by improving benefits for those who are disabled and for older americans, there are a bunch of the sort of miscellaneous changes in this, but this would probably represent one of the largest changes to health care in america. Since obamacare was passed back in 2010, medicare would also add hearing coverage, but not vision or dental vision or dental were desired to be included by individuals like senator bernie sanders. However, they were left out of the house passed version, as was the measure that would have allowed medicare the ability to negotiate down drug prices.
Now, the health provisions of this bill are expected to cost 330 billion dollars over the next decade and they come with 325 billion dollars in savings. What's interesting, though, is the savings part will be permanent, this sort of expense cutting, but the new coverages will only last until 2025.. So, even though it sounds like they're kind of washing each other out that the savings are washing out, the spending the spending only lasts. Four or five years, the cuts last for 10., so kind of interesting funny math that congress is pulling off but uh, then again, that's what congress does to get stuff done, so they could sell it to their constituents now uh. In addition to this uh, it's worth noting that 45 of americans are struggling, we're facing some form of a hardship due to inflation. This is at least according to the latest gallup poll, on who's being most affected by inflation. Take a look at this one here. It says those with a household income of less than forty thousand twenty eight percent of those reported a severe hardship due to inflation, 42 percent, a moderate hardship.
That means 71 percent of individuals making less than 40 000 a year are reporting a hardship due to inflation. Also worth noting that if we look at the difference in education, if you have a college degree, you are 30 likely to have some form of hardship to inflation. And if you do not have a college degree, you're 54 likely so substantially more likely to have a hardship with inflation. If you are either uneducated or not, college educated, i should say, make less than 40 000 a year or get this one republicans had a 53 reported hardship against inflation, whereas only 37 of democrats responded that they had a hardship against inflation.
This some folks do wonder if this is potentially politically motivated, that individuals who are republicans are potentially more likely to suggest they have a hardship because well, let's go brandon or is it because democrats i mean potentially even on the same vein. Maybe democrats support joe biden and therefore they say: oh no. No, it's not that bad, even though they are suffering so a little bit of potential skew there. This was put together by gallup and the point here.
The bottom line really that anyone making under 40 000, potentially without a college degree and more likely republicans, are feeling the effects of inflation more than anyone else. So this is good news on congress, not so good news on inflation or the progress in terms of the debt ceiling or buildback better, but it does give you an overall update of what congress just got done and some pain points. People are feeling in america right now. If you found this helpful, consider subscribing share the video and folks we'll see in the next one thanks so much goodbye.
Im down 70% on my portfolio. Next year the Nasdaq needs to go up at least 50% for me to make back my money
Yeah Obama care worked out so great… poopy pants biden here to finish it off.
Inflation is a tax on the poor, full stop. That's why the Fed and Brandon's regime lie to your face about "transitory" rates.
They think you're too stupid to realize that their policies are deliberately keeping you from gaining access to the social mobility ladder.
Yet libtards everywhere keep supporting these useful idiots as they give in to all this fear mongering and then wonder why nothing ever changes. Drain the Swamp, put America first, and Let's go Brandon.
Or maybe more republicans have lost income than democrats have because republicans are disproportionately more likely not to get vaccinated?
I thought Biden’s vax mandates keep getting struck down in court. Which mandates exactly are being upheld?
It's politically motivated because the only companies allowed to stay open during the pandemic were government agencies (many of which are run by democrats).
Republicans typically refuse government programs due to ideology or living in rural America away from resources and networking.
im not sure why americans keep fighting about having better healthcare. lol when everybody is healthy, it will show through economic productivity.
Appreciate your updates on news and the shenanigans in government matters.
Will the child tax credit continue payments with the extension?
Hi, less than 40k earner here. well educated, small biz in the healthcare industry. Travel for work. Gas, food, energy, internet, all went up. If I raise my prices, loses clients. then democrats say “oh poor baby can’t afford Christmas gifts and gas to ruin the environment.” Energy sec., buttlicker, pelosi, psaki….everyone in the bully pulpit condescends. You know why? because they are sociopaths. Our leaders are friggin sociopaths and we all sit here with our fingers in our clenched bottoms. I want my pound of flesh now. THE LEFT= collectivism, socialist humanism, Great Leap Forward, cultural revolution. To be clear, socialists and communists have killed more people than most other regimes in the history of the modern world. Anyone born after 1984 likely has no understanding of the dynamics of societies and the dangers hidden in free stuff in the name of social justice. Marx, Lenin, Stalin, hitler…all “social justice” warriors.
🙋♂️ So Republicans are feeling inflation more than Democrats? 😆🤷♂️
I am just so glad I can watch Kevin again, the way his green hair used to bleed into that green bar behind him, my OCD couldn't stand it. Red is awsome though.
The buffet for harlots is K Street where congressmen setup their spouses and siblings as lobbyists.
Im a left leaning centrist from a republican county, no college education, got rid of some big monthly payments like car insurance, gas, phone and have still suffered over 150% inflation
I'm so happy I didn't listen to kevin and didn't sell my ethereum 😎
Yea dems are lying abt the hard ship to inflation. They know forsure inflation is killin us. Idk why people are so politically motivated. Lets do whats best for our country, not ur terrible president
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it is probably safer to make short portfolio vs long. most stock goes down not up
Too many videos, doesnt seem genuine. All about the videos n other source of income. Its too much info to process. Think macro not micro. Follow chicken genius instead.
Shit I'm uneducated, libritarian, and I make 0 per year. Thank godmy business is raking in like 70k
The fun is certainly running out. People need to know when get out. Next year likely chaos will ensure. 😕
I work in healthcare Get the vaccine so we don’t have to put 100’s of non vaccinated people on ventilators everyday…. Odds are you will die if placed on a ventilator with covid. These machines cannot handle the extreme oxygen and ventilation demands of non vaccinated covid patients. Try breathing 100 liters of 100% oxygen every minute for days even weeks on end you or I would pass out in less than a 1/2 hour; your heart would have to beat at 150 beats per minute to try and keep up. That’s like constantly running at full speed. Be smart get the vaccine or die on a ventilator unable to meet your oxygen demands while running up hill with that ventilator on your back. Is that freedom????
If they asked young people it would've been 100% severe
They might as well keep the government shut down. It doesn’t make any difference if they are open or closed since they can’t manage to get ANYTHING done.