Hi everyone, this is Dr. Nitin Chhoda. In this video i'm going to talk to you
about the new $3 trillion stimulus proposal
from house democrats. This is $3 TRILLION. Now this is a
significant amount of money and this is the biggest
relief bill proposed yet. It's significantly bigger than even the CARES
Act that was passed in March. Now I'm going to be completely honest with
you, i don't see a very high probability of this
passing but it is worth analyzing for several
reasons. The biggest reason is that house democrats are extremely
motivated to get this passed. Now will the
republicans stand in their way and prevent this
and will we see some sort of a modified version of this? Absolutely, because
that's just the way our system works but the fact
that this bill is out there, the fact that house
democrats have have put out such an ambitious
new proposal tells you that one way or another
we are going to see another big multi-trillion dollar stimulus bill. Will
it be 3 trillion, will it be 1 trillion, 2 trillion? I mean what's a
trillion here and there, it's no big deal right? 1 trillion, 2
trillion that's just carrying around money
for us isn't it? My point is we will see another big stimulus proposal and i'm
actually in tomorrow's video i'm going to give
you a detailed analysis of the global, the political, the economic
reasons why I think we will definitely see another big trillion plus dollar
bill. It could be like i said 1 trillion, 2 trillion
3 trillion because like I said that's just
walking around money for us isn't it but the fact is that again there are global
there are political, there are economic reasons why we will see a big bill.
The global reason is that the US economy
powers and is the driver for the rest of the world. In fact the US currency
the US dollar which is the reserve currency of the world is now stronger
than ever. The world needs us to get out of this
because we will then essentially stimulate the rest of the
world. By the way speaking of stimulate, a lot of you liked my
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I mentioned global, political and economic reasons. The are political
reasons are we are in an election year and you know
the republicans obviously want to get elected and the
democrats don't want them to get elected. So
there's going to be essentially a battle between the 2 parties to do
what they think is right so that they can get your vote. That's
just the political reality. The economic reality is more than 60%
of Americans live paycheck to paycheck and in fact
right now belly have enough money to cover their
bills. In fact a majority of Americans more than half of all Americans do not
have enough money for $1,000 emergency expense.
So with that being said let's get into this incredible new bill from house
democrats and it's going to be up on your screen
and i'm going to walk you through it. House democrats release their latest
pandemic relief bill as they try to blunt the pandemic's effects on the
economy. So for them the initial CARES Act was not enough
this is bigger, better, bolder. Now is it going to be passed? Not in its
current form i don't think so but again analyzing this and analyzing some of the
massive proposals in here will make you go whoa you know these
guys are going big this is uh there are no half measures
with this bill that's for sure so let's see the chamber plans to vote
on the legislation which includes relief for state and local governments
direct payments more direct payments to americans many more
stimulus checks and hazard pay for essential workers
coming up on friday now republicans who've downplayed the need for more
immediate spending are unlikely to approve the package in the senate so
again now we know that if something goes from
the house it needs to be approved by the senate
signed into law and then the president needs to sign it now the democrats
control the house the republicans control the senate so the democrats can
pretty much say what they want and they could get
essentially stonewalled by the republicans that's just the reality
of our political system at the moment now so what house democrats did
this is a 1 800 bill so again to my subscribers this is
incredible if you are a subscriber welcome back if you're not a subscriber
please consider clicking the subscribe button stimulate
the subscribe button and the like button so house speaker nancy pelosi on tuesday
said congress had a momentous opportunity to meet people's needs and
she said not acting is the most expensive course
as the gop grows weary of taxpayer spending so the republicans want to
avoid more and more spending because the republicans are extremely
concerned about the economy extremely concerned about the numbers and the
democrats want to spend more money and are more
concerned about public health i'm more concerned about
the health care system infrastructure so here's
here are some of the action here are some of the bullet points if you will
the major points in this bill just uh incredible some of the bullet
points are nearly one trillion dollars in relief for state and local
governments a lot of states have been asking the federal government for money
so the democrats say give the states money
a second round of direct payments of 1200
per person up to six thousand dollars per household
think about that twelve hundred dollars per person
six thousand dollars per household about two hundred billion dollars for hazard
pay for essential workers who face extremely
high risks during this pandemic and of course you know
they are the frontline workers and they need to be taken care of and
you know i salute them 75 billion dollars for pandemic testing
and contract tracing a key effort to restart businesses because without this
restaurants aren't going to open movie theaters aren't going to open malls
aren't going to open retail stores downtown are they're not
going to open until this is done an extension of the 600 per week federal
unemployment insurance benefit through january now
currently the federal unemployment 600 per week
booster is scheduled to end on the 31st of july
i've done several video trainings about this check out the playlist
on the unemployment benefits videos so there's several videos in there where
i've talked about unemployment benefits and i've gone over
many many different aspects of the unemployment benefits program i've
i've gone over q and a's i've gone over what's likely to happen
i've gone over the impact on low wage earners have gone over the impact
on individuals who are self-employed and many other things so definitely check
out that playlist so when you're on my
channel click subscribe go to the playlist click on unemployment
benefits and watch those videos i think you'll get
a lot out of that you will learn more in about 30 minutes watching those videos
then you will reading all the articles out there on the internet then you will
be on the phone for six hours with your state unemployment agency
and then you can come back and tell your friends to subscribe to the channel
so an extension of 600 per week federal unemployment insurance benefit
through january so again this what the democrats are proposing is that this
will not expire on the 31st of july but will go all the way through january
of 2021 that is that is an extension by six months
175 billion dollars in rent mortgage and utility assistance because a lot of
individuals are having a hard time paying their end
subsidies and a special affordable care act which is obviously a
democratic thing enrollment period to people who lose
their employer sponsored health coverage because a lot of
individuals who've lost jobs have actually lost their health
insurance coverage because they can't pay for cobra insurance and
since they are not employed they don't get health insurance through the
employer which means a lot of people are essentially stuck without health
insurance and that's the worst thing that's the worst thing
that can happen to anybody during this pandemic is to be sick
or to have the fear of being sick and then at the same time have no health
insurance i mean it can wipe people out medical
claims and medical bills are one of the top
causes of bankruptcy in our nation and it really shouldn't be
that way don't even get me started on that
more money for the supplemental nutrition assistance program including a
15 increase in the maximum benefit measures
designed to boost small businesses and help them keep
employees on payroll now again we've talked about the paycheck
protection program i've done extensive video trainings on that
on my channel so you can go and check those out but the democrats want to
extend that further they want more help for small businesses
this is almost like a wish list of i want this i want that
i don't care how much it costs i just want everything that's in the shop
and then i'll figure out how to pay for it later so this is essentially what
this is help help small businesses keep
employees on payroll such as 10 billion dollars in emergency disaster
assistance grants now keep in mind there was 50 billion dollars in
additional funding for the economic injury disaster loan program including
10 billion dollars in emergency 8 grand so they're talking about 10 additional
billion dollars because right now the small business administration has
limited those grants to under 150 000 per person therefore
primarily for agriculture so the democrats want to extend that meaning
more money for small businesses and a strengthened
employee retention tax credit they want you to retain your employees if you're a
small business they want to give you a tax credit
and they essentially want to boost up the employment numbers and reduce
the unemployment numbers money for election safety during the pandemic and
provisions to make voting by mail easier now this is an
interesting one we know for a fact that president trump
isn't really a fan of voting by mail and he's talked about that and the
democrats have essentially included this i don't want to say snuck
it in but they've included this so that they can make voting by mail
easier which is going to be in my prediction a major
area of contention in the coming months because
voting by mail is something that democrats want and
president trump has clearly said it this isn't a secret he's clearly said it he's
not a fan of voting by mail because he believes
it's going to lead to more election fraud and relief for the u.s
postal service which which is something that the republicans
and president trump haven't really been too keen about but the democrats believe
that there should be relief for the postal service so
basically democrats say that infection rates and an unemployment rate unseen
since the great depression require more unprecedented emergency government
response so the new bill is going to cost
more than three trillion dollars which easily tops the two trillion dollars
that was allocated in the cares act which was passed into law
in march so it's almost like that was just a warm-up as far as the democrats
are concerned and this one's going to be you know the big one
you know the massive one that they want to try and push through now
if it passes the house this is going to get roadblocks in the senate there's
absolutely no question about that and republicans have actually
said that in fact our republican leader kevin mccarthy said his exact words
house democrats just released a 1 800 page liberal
wish list that was crafted behind closed doors
and increases bailouts and includes bailouts
for blue states and giveaways for billionaires the spectacle has
no chance of becoming law he called it a spectacle
and he said it has no chance of becoming law and he
also went on to say what a waste of taxpayer time
and so you know there are the comments from
senate majority leader mitch mcconnell and he
his exact words he seemed to be a bit more circumspect he said
i'm in discussion we are all with the administration if we reach a decision
along with the administration to move to another phase remember he
said if he didn't say when and neither did he rule it out so i
think that i think there is an opening there for more stimulus
along with the administration to move to another phase that will be the time to
interact with the democrats so basically the approach from the republicans is no
chance it ain't going to happen but let's leave the door open
and let's see what happens so overall i would say that and and i've
covered this in other training videos and i'm going to
i'm going to do another training video tomorrow i usually release videos in the
afternoon 2 p.m east coast time so i want you to
be here for the release of my next video
training tomorrow and in that video training
i'm going to talk to you in detail about why there will definitely be another
trillion plus dollar stimulus bill i'll give you the
global the political and the economic reasons why that is
very very likely to happen and then we will see that bill so i want you
tomorrow definitely be here subscribe to my
channel and subscribe to instant notifications so that you can get
an instant notification because another big trillion plus dollar bill
is coming as far as this bill is concerned this 1800 page
wish list now those are the words of kevin mccarthy this wish list from the
democrats it's not going to happen in its current
form but when you look at the wish list you're
very likely to see some of those items come to fruition because
number one the country needs it that's the economic reality
number two we're talking about politicians eventually and politicians
you know they they want to be popular they want to
have something to brag to their constituents about they
want to be on the news they want to score points with all the
news channels they want votes right there's a political reality where this
has to happen otherwise you know people aren't going to vote for
either party and number three there's the global reality that we have to
recover from this america is the economic engine that
drives the rest of the world i'm going to be releasing two videos one of them
why the trillion dollar stimulus is definitely happening maybe not this one
but a version of this one and number two why the all the talk about the potential
end of the us dollar is going to go nowhere
the us dollar is going to emerge stronger from this i will give you an
economic and a factual reality i'll make it
entertaining i promise and definitely subscribe to the channel
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thanks