Hello everyone and welcome to this episode of Ignition Time. I have a question for you.
As a result of this massive $1.9 trillion American Rescue plan, are we looking at a permanent
expansion of the social safety net in our country? In simple words the question is, is this going to
make people more dependent on the government? And even if the answer to that question is yes,
the broader question, the deeper question is is this a good thing or a bad thing? In this video
we're going to examine some of the ramifications of this massive $1.9 trillion stimulus package
which essentially have the potential to change the fabric of our country economically not
just the $1400 stimulus checks and the unemployment benefits which will go away
at some point towards the end of the year but is this going to create a sense of dependence on the
government? And even if so, is this a bad thing? The truth is, there is no right or wrong answer.
This is not a black and white situation. There are many many shades of grey in this situation. On
your screen you'll see the headline of an article published by the Associated Press, this stimulus
plan could permanently alter the social safety net. Here's a quote from Ellen Vollinger who is
a legal director for the food research and action center which is a food security advocacy group,
when you stand back and look at it, that's when you really can appreciate the sheer scope of it.
The scope is both impressive and much needed. Here's a quote from Andre Perry who's a senior
fellow at the Metropolitan Policy Program at the Brookings Institution, we haven't seen a shift
like this since FDR. It's saying families are too big to fail, children are too big to fail,
the elderly are too big to fail. It's a recognition that the social safety net
is not working and was not working prior to the pandemic. For me folks this is a subject that is
close to my heart because I've been able to escape the cycle of poverty that you see on
your screen. It's very difficult for our fellow Americans to escape the cycle of poverty and
once you can escape it there's really no looking back. Escaping the cycle of poverty requires you
to get some help whether it's financial help from someone or whether it's help from people who know
more than you who have walked the path that you want to walk along. So escaping the cycle of
poverty is something fundamental, something that millions of our fellow Americans have struggled to
do for a long time and I have to be completely honest with you, that struggle is not going to
disappear overnight. That struggle is going to continue but the American Rescue plan attempts
to try and lift people out of the cycle of poverty. In fact President Biden said this,
this historic legislation is about rebuilding the backbone of this country and giving people in this
nation, working people and middle class folks, the people who built this country a fighting chance.
Here's a quote from house speaker Pelosi, she said the American Rescue plan is one of the most
transformative and historic bills any of us will ever have the opportunity to support. Now let's
be clear, this was a very very ambitious bill. It passed the house and the senate without a single
republican senator voting for it, without a single republican lawmaker congressman
or congresswoman voting for it. Pretty pretty amazing when you think about it. Which tells us
that the next phase is going to present a new set of challenges on your screen you see
the headline of an article from the washington post the next biden agenda items on immigration
and infrastructure which is specifically the built-back better agenda are already running
into trouble because if any of the conservative democrats decide not to support this plan then
the democrats are out of luck because they are not getting any republicans to support them but
let's be as clear as possible the republicans are simply not happy with the way things are going
and now a race is beginning to shape the public perception of what has happened i believe that you
my viewers and subscribers are intelligent enough to have already made up your own mind about who's
right and who's wrong in this situation but let's look into some comments from some republicans
here's a comment from senator shelly moore capito who's a republican from west virginia by the way
the conservative democrat joe manchin is also from west virginia and senator capita was among
several republican senators who met with president biden shortly after his inauguration and she said
i kept pleading for bipartisanship and let's keep it within the guardrails of what we know we can
accomplish and since then the democrats passed the american rescue plan through the process
of budget reconciliation without a single vote from the republicans so it was not it was not
bipartisan and as far as some senate democrats wanting to tackle infrastructure in the same way
this is what kapito had to say it just smacks off totally opposite of what the president said
and the signals that we were having basically the senator saying hey president biden gave
us certain signals said certain things publicly but now what is happening is the exact opposite
because the democrats are saying we're just going to do it alone and the reason this is very very
very important is this is going to impact what happens later in the year and what happens next
in the economic recovery of our country now remember this channel the ignition time channel
is about the country it's about the economy and it's about your money therefore this particular
article that i'm about to show you is very important here's a headline of an article
on your screen from the new york times the fight is on to define the pandemic aid bill
now democrats have embraced the scope and the cost of this entire stimulus as saying it's necessary
we're going to send out checks we're going to extend unemployment benefits and republicans
are basically going to have to make an argument about why this is bad in fact the senate minority
leader mitch mcconnell was specifically asked hey what do you have to tell people about
this people who support it he actually said that people don't know what's in the bill i
mean i don't know if the senate minority leader mitch mcconnell thinks that the american people
are stupid and i know that's a very strong word to use but come on we can read we have access to the
bill you know there's nerds like me on youtube and on television networks that actually cover
what's in the bill i think the american people are pretty smart and know what's going on and who's on
their side and who's not here's another comment on your screen from the senate minority leader
mitch mcconnell we're on our way out of this we are about to have a boom and if we do have a boom
it will have absolutely nothing to do with this 1.9 trillion dollars so i have a question for you
are we on our way out of this are we about to have a boom your economy your specific job situation
your specific financial needs are quite different i believe from what the senate minority leader
mitch mcconnell is saying because there is no one-size-fits-all approach now lindsey graham
who's the uh the colorful the colorful republican senator from south carolina he by the way is a top
republican on the budget committee so he he knows a thing or two about money he says this is a race
for branding there are some policy choices in the bill unrelated to the pandemic that i think
are going to be problematic for our democratic colleagues in the states that matter he's making
this about politics in fact lindsey graham said that the 1400 stimulus checks will be a sugar high
will be a sugar high for the american people yeah he said the 1400 stimulus checks will be
a sugar high i personally think that's extremely disrespectful and that's treating the american
people as children let me know what you think in the comments section below let's move on to
another quote this time from congressman tim rice who's a republican from south carolina
the same state as senator lindsey graham i mean it's certainly good politics to say hey we're
going to hand you a check for fourteen hundred dollars what they don't talk about is what
this bill costs and finally here's a comment from senator john barrasso who's a republican
from wyoming he's the chamber's number three republican after the senate minority leader
mitch mcconnell and after john tune he said you're going to see gas prices go up interest rates go up
mortgage rates going up car loans going up prices at the grocery store going up people are going to
be bothered this is a very interesting approach from a politician talking about fear in the
future in order to criticize a solution for today now i want you to think about this for a second
politics is about timing it's about opportunity it's about tribalism and it's about perception
right now the republicans are saying oh my god we're spending so much we need to criticize this
that's where the timing and opportunity comes in as far as the tribalism goes they're going to say
hey we're conservative we're you know we're responsible the democrats are irresponsible
and as far as perception is concerned they're saying oh all the fear-mongering there's going to
be a lot of inflation in the future right now it's raining money it's raining money right now but
in the future that money is not going to buy you a lot of stuff there's going to be a lot
of inflation it's going to be terrible you're going to go to the grocery store and milk is
going to be like 30 a gallon well senator richard blumenthal who's a democrat from connecticut had a
pretty good comeback here's what he said the bill is historic in magnitude and so is the disconnect
between republicans and reality both the political reality and the economic background
and senator blumenthal also said this it's too big it's too much that's their story and they're
sticking to it but people know that it is better to overshoot when you are in this kind of thing
the more people learn the more they like and i do think that that's more in line
with reality the more you learn about the american rescue plan the 1400 stimulus checks the extension
of unemployment benefits increasing affordability for health insurance the more more and more of our
viewers and subscribers like it i read our viewers comments and i know that that is indeed what is
going on yes we do have to deal with the inflation problem with the debt problem but we have a more
near-term problem which is helping those who need help the most because individuals and travel
leisure entertainment and hospitality have lost their jobs millions of our fellow americans have
lost their jobs permanently and are struggling to make rent struggling to put food on the table
struggling to keep the lights on and i believe it shouldn't matter whether you're for the red
or the blue it shouldn't matter whether you're a democrat or a republican we are all american
first and therefore we all need help that's it everyone thank you so much for watching i really
appreciate you please click the like button please subscribe please enable notifications
that would mean a lot to me personally that also helps out the youtube algorithm i can make it rain
money for you like i'm doing right now i will as we recover from this crisis because i'll teach you
how to make money how to save money and how to invest money thank you so much for watching
i'm looking forward to seeing you in the next episode of ignition time take care bye