Speaker 1: All right, I want to start with a correction today, I always strive for accuracy and
precision and so on. Yesterday, in my discussion of the emails I had gotten about Kyle Rittenhouse,
his mom, Wendy Rittenhouse, some people saying, David, she's clearly cognitively disabled or
delayed or whatever term you want to apply. I mentioned in, among many other things,
that she's a nurse and has a certain level of education. She's not a nurse. She's a clinical,
a certified nursing assistant to Cena. And is it clinical or certified a sienna? It is not a nurse.
So whatever inferences you, me or anybody else makes, let's make them based on just the actual
information. She's a sienna, not a nurse. Doesn't necessarily change my analysis. OK. Let's get on
to the news. We have seen now the signing into law of the $1.2 trillion infrastructure bill
that we discussed last week. Again, for context, this was a very big bill that became smaller and
smaller and smaller, down to 1.2 trillion, with only five hundred and fifty billion of the 1.2
trillion actually being new spending for new projects, which we will talk about in a moment.
Big signing ceremony on the White House lawn Joe Biden could have signed it earlier,
but he wanted to do a White House lawn event with a bipartisan group of elected
officials. Because, yes, remember there were some Republicans who voted for this bill,
much to the chagrin of the Trump Republicans who immediately started saying, Let's get rid of all
of those Republicans who crossed party lines to vote in favor of the infrastructure bill. They had
a brass band. They had speeches, the Associated Press called them peppy speeches, and Joe Biden
signed the bill into law. Now we're going to go over the final version of what's in the bill. But
the big picture here is that this entire escapade is a humiliation. And what I mean by that is
the stuff we're spending money on in this infrastructure bill
should be obvious. We all agree. We just do this stuff. We're a wealthy, developed nation.
We have the money. We do this stuff. That's what it should be. And instead, it becomes months and
months of debate and argument and disagreement and shrinkage. Shrinkage, shrinkage of this package.
Extreme shrinkage, I would even say, and this is ultimately what we end up with. OK,
so what's in the bill now that it has finally been passed? One point two trillion,
five hundred and fifty billion is actually for new projects. That
includes one hundred and ten billion for roads and bridges desperately needed. Sixty six billion for
railroads are railroad system is pathetic. Now I know many people will say, David,
sir, we are not a small European country that can easily be connected with rail. You know, New York
state is the size of some European countries. We're talking about a massive country fine.
Eastern seaboard, western seaboard, northeast of Chicago area. So many opportunities for a faster
modern rail. We don't have it. It's pathetic 65 million for the power grid. Desperately needed,
65 billion for broadband. Now the broadband thing, it's a little bit frustrating that we already give
breaks and subsidies and all of these things to these internet service providers. And we still
have such crappy broadband in many parts of the country. And one of the things I like is that the
incoming FCC chair wants to define broadband as 100 megabit up and 100 megabit down asymmetrical.
We have had this issue time and time again at our backup studio, which I've mentioned that we have.
I have options. I can get 100 megabit download, 250 megabit download, 500, I can get gigabit
download and I say OK, but we need to upload big files. What's the fastest upload I can get? Well,
sir, if you pay 200 bucks a month, you can get a thirty five megabit upload. It's pathetic.
It's pathetic. So on broadband, we're failing. There are 65 billion in the bill. How much more
money are we going to give these ISPs before they actually put together something approximating what
other countries consider to be high speed internet 55 billion for water infrastructure? We still
have parts of this country where you shouldn't really be drinking. The tap water is horrifying
47 billion for cybersecurity and climate change. Thirty nine billion for public transit. 25 billion
for airports. We've talked about the sort of sad state of many American airports, particularly now,
not even just compared to other wealthy countries, but even some not so wealthy countries that have
invested in airports. Twenty one billion for the environment. And at some point we'll dig
in more as to what that means. Seventeen billion for ports. 11 billion for safety.
Eight billion for Western water infrastructure. Seven and a half billion. Or electric vehicle
charging stations, we've got to build that out, guys. And seven point five billion for electric
school busses. Funding will go out over a five year period and it, of course, as you probably
would guess, it can take months, if not years, to start certain projects. A lot of this stuff