Hey everyone meet kevin here. Let's talk about the craziness about the latest infrastructure packages, the debt ceiling where we stand and, most importantly, what's going to happen going forward so quickly. The senate passed the short-term extension of the debt limit on thursday by a vote of 50 to 48, pretty party-line vote. This was done without budget reconciliation because mitch, mcconnell and 10 other, while 10 republicans total allowed the filibuster to end.

They were able to invoke a cloture, paving the way for democrats to pass the debt limit bill uh through this uh through this resolution that republicans came up with with along with democrats as long as the debt limit would just be extended through december. So now this bill is getting sent over to the house of representatives where, obviously we expect it to get slam dunked. There was some last-minute drama. As the bill got passed in the senate, chuck schumer went to the floor and uh pretty much slammed republicans for provoking this whole crisis.

Apparently, chuck schumer wanted everybody to know how democrats had this massive victory and they've prevailed over republicans when, let's be real, it was mitch mcconnell, who's kind of like all right, like hey, we'll. Let you kick the can down the road mitch mcconnell kind of had a lot of power here now some people say well, but mitch, mcconnell didn't want democrats to vote to end the filibuster and maybe that's why he allowed democrats to move forward with this debt ceiling. Uh, you know raising the debt limit, i don't know, i don't think so. Joe biden has clearly said he doesn't want the filibuster to end and if democrats got rid of the filibuster, then that means, if republicans had power next time around republicans would uh not have a filibuster to deal with right so, like you could be all in power.

Now, if you wanted to be but you'd get screwed in the future, in other words, so joe biden and most of the leading temps, don't want to do this uh as popular as it is to say get rid of the filibuster, but anyway, uh chuck schumer really Wanted to make it clear that this was a huge democratic victory and after that you had a lot of folks like joe manchin john thune, mike rounds, mitt romney all right on chuck schumer for for this speech, mansion going as far as potentially, although he did later Deny this calling the speech and he actually said it effing stupid to some reporters just so you could see what this speech was like. Here's, just a quick sample of it and what's really neat about this shot is this is chuck schumer. This is joe manchin and here's mitch mcconnell right here now you barely get some shots here, but just watch joe manchin's reactions over the next uh 20 seconds here as chuck. Schumer is just going off on republicans, suggesting that they finally cave to what the democrats needed and - and it's thanks to the democrats - this got done anyway.

Just watched leader, mcconnell and senate republicans insisted. They wanted a solution to the debt ceiling, but said democrats must raise it alone by going through a drawn out, convoluted and risky reconciliation process. That was simply unacceptable to my caucus and yesterday senate republicans finally realized that their obstruction was not going to work. I thank very much thank my democratic colleagues showing our unity in solving this republican manufactured crisis, despite immense opposition from leader, mcconnell and members of his conference, our caucus held together and we've pulled our country back from the cliff's edge that republicans tried to push us over This by the way goes on so much so i'm just gon na go fast forward here, 15 seconds because watch your mansion just get up the republican leader claimed was the only way to address the debt limit.

Let me say that again he's like i've had it. I can't take this crap anymore, but uh anyway. Look this debt ceiling thing. It's now essentially done.

It's still got to pass the house, but it's essentially done this keeps the debt ceiling extended through december of this year, and this means that schumer's going to have to work with republicans again to um to to raise the debt ceiling in the limit. But here are uh some timetables that we have right now, which are pretty important october 31st is when nancy pelosi has set a date to vote on the passing of the one trillion dollar infrastructure plan. It's that one to 1.2 hard infrastructure plan, chuck schumer says he wants to raise the build or or pass. Rather, they build back better plan by then that now no longer expected to be three and a half trillion dollars, probably closer to one and a half to two and a half trillion dollars, leading a lot of folks to wonder.

Okay, where are the cuts going to come from uh? Even the progressives? The house progressive chairwoman has made it very clear that hey she's open to negotiating a smaller number. I think she realizes this is going to become a take it or leave it kind of deal. Now the question is: how do we figure out where to cut that from the three and a half trillion dollar outline that we've had a lot of folks are suggesting that they'll just shorten the time frame for certain benefits, for example, instead of doing a four to Five year, child tax, uh child care, tax credit - maybe we'll just do a two-year child - a care tax credit we'll see now december 3rd is the date when our government budget runs out again. So it's another date to keep an eye on.

This is obviously separate from the debt ceiling, but we do have. We've got a couple dates, therefore, in december, but for right now, we've bought ourselves a little bit of time for negotiations with these infrastructure packages and the debt ceiling, which is very good, representative ro khanna. Also had a private private conversation with joe biden about the buildback better plan and the bipartisan infrastructure deal as well as the debt limit, rakana suggested, getting sanders and mansion in a room together to figure out a compromise between joe manchin and senator sanders. Bernie sanders now.

Remember, ro khanna is a progressive himself. In fact. Last year he authored the emergency money for the people's act, which would have given individuals, 2 000 of stimulus per month, not six hundred dollars, not fourteen hundred dollars, not twelve hundred dollars, but it's two thousand dollars per month. So rokano is obviously a progressive uh.

But he's making the suggestion that well hey if we get fellow progressive sanders and moderate mansion in a room together, maybe a compromise between them. Two could appease every democrat or as many as possible in the house and the senate now uh in response to this suggestion, joe biden said that getting these two together in a room would be like homicide, uh and, and i can kind of see that as being Possible because i think bernie sanders is extremely upset at somebody like joe manchin, for holding up the progressive or left agenda to which uh we've seen many tweets from bernie sanders, suggesting that is unfair. That two people should be able to hold up the will of 48. But remember it's always worth noting.

There are also republicans who would join joe manchin, so it's really more like 58 versus 52. uh sanders, of course responded to this idea as well and said it's not a movie. I don't know if you are a movie writer. This is not a movie, it's just really kind of like okay, so it looks like everybody's kind of seeing a drama on on both sides.

Here sanders also reiterated his policy agenda and, of course, as usual, made his case for leaving certain elements in like the medicare's coverage of hearing dental and vision programs. Bernie sanders also said that there's a direct link between congress members who don't want to support lowering prescription costs and those who accept money from pharmaceutical companies. This is a slam at people like kirsten cinema uh, who have uh, who have received money, at least from what we can tell have received money from lobbyists from the pharmaceutical industry and uh bernie sanders is aptly pointing out that maybe there's a connection here in terms Of why uh why there are issues and, of course we we know that there is always a lobbyism at play, but i think it's just very worth noting that at this point we we have the debt ceiling, uh limit and budget. Both kick down the road through december.

Beyond these being kicked down the road through december, we also have uh the infrastructure plans now kicked down the road to the middle of october. That's what we're looking at right now is the middle of october. Democratic leaders have said that now more than ever, thanks to the missing of our jobs numbers this morning, now more than ever is time to spend the multi-trillion dollar infrastructure or spend multi, spend multiple trillions of dollars on infrastructure, especially the soft infrastructure package. The social infrastructure package uh, for example, you have biden, saying that the unemployment rate going down to 4.8 percent is a significant improvement from when he took office, especially joe biden touted decreases in hispanic and black unemployment rates.

But we still have obviously a lot of work to do, but either way over the next few weeks, especially leading up to halloween so about three weeks to go. We should see a lot of negotiating on this actual infrastructure package. Where is that number going to land? Are there going to be inflation concerns regarding this? I expect a lot of progress after the inflation statistics come out next wednesday. That's when we'll get our cpi consumer price index inflation report for september, maybe that, if it comes in lower than expected, will help appease joe manchin that maybe indeed inflation is a bit temporary.

If inflation numbers come in higher than expected, that could definitely make it a lot harder for somebody like joe manchin to be okay with a larger package, and instead he might prefer to settle for a smaller package anyway. Uh. That gives you a little bit of an update in terms of timing. Uh of what we've got.

We've got a little bit of a piece here for a few weeks, although i expect negotiations and bickering between people like manchin and sanders to continue and we'll keep a close eye on develop developments as they come in. But in the meantime there is our stimulus and infrastructure update. Thank you so very much for watching and folks, we'll see in the next one thanks again, bye.