35 Burst results for "Trillion"
Victor Davis Hanson Predicts 'Borderlash'
"With what I was discussing before the break about how the Democrats are hemorrhaging minority voters out of their party, and Biden is trying to stop the exodus. It's not going to happen. Victor Davis Hanson has a piece I have in my newsletter today, which is excellent. It's called Optimism Inc We could use a little bit of that the crushing weight of lies. The beginning of the peace talks about how the Democrats are running out of ways to try to defend Joe Biden's lunacy. Actual lunacy like he's losing his mind and is attached on his cognitive abilities, But his policy lunacy to But the second parts interesting as well. Talks about how the these optimistic about the future of the country because the Democrats have taken way too many bites out of the crazy Apple. He says. One of the things that's going to happen is these are his words on mine, he says. Border Lash He says an open border may take years to will take years to fix will suffer a trillion dollars and entitlement costs, legal education, food, housing and transportation assistance to accommodate the 8 to 10 million. During this administration will cross illegally into the United States may be like, well, where's the good news? He goes on, he says, but an open border cannot be hidden by this media forever. The consequences of allowing those in whose first act is to break US law. And second is to reside illegally in the US and third is to fabricate identification to perpetuate their illegal residents. It will force Americans finally closed the border. Victor Davis Hanson is a brilliant guy. I don't know if I'm as optimistic is that But folks remember Ben Stein's golden role. Yes, you know Herb Stein Ben Stein's dad, Ben Stein's A Bueller
Treasury Announces Auctions to Raise $126 Billion Next Week
"The treasury department is taking emergency measures to keep from broaching the newly imposed debt limit the treasury says it will raise one hundred and twenty six billion dollars by auctioning three and ten year treasury notes and the thirty year bond that'll happen Tuesday through Wednesday of next week the money raised will allow the treasury to meet the debt servicing requirements on fifty eight point six billion dollars in treasury notes and bonds that are coming due plus raise about sixty seven point four billion dollars in new cash to keep the government operating the government's debt ceiling went back into effect on August first after having been suspended for two years it stands at twenty eight point four trillion dollars treasury secretary Janet Yellen has called on Congress to quickly lift or suspend the borrowing limit Ben Thomas Washington
Senators Behind $1T Infrastructure Plan Show Off Their Work
"The senators who spent months stitching together a nearly one trillion dollar infrastructure package are now trying to sell it to the American people a key vote on it is expected later this week the bipartisan lawmakers say they're appealing to the wishes of voters to work together for better airports roads and internet service without having to pay for it through higher taxes or user fees some package highlights according to the senators a hundred and ten billion for roads and bridges about sixteen billion to curb coastal erosion about fifty five billion for water and wastewater systems and sixty five billion for broadband I'm Julie Walker
Is There a Climate Crisis?
"The green new deal implies number one that we have climate emergency climate crisis that we have twelve years by which to act. And the clock's ticking. I think we're down to just a little over ten years now. Another one of these tipping points and by the way in the book i trace the first climate tipping point to eighteen sixty four where we were warned of climatic excess unless we did something so these tipping points have been around for centuries literally but the green new deal even if we faced a climate emergency. They claim which we don't. We don't even face really measurable climate implants by mankind. I mean that's the thing is hundreds of factors that influence the climate. You can't distinguish him. From natural variability. we probably warmer during the period. When jesus was on earth with when during the time jesus christ was born and medieval warming period. We were probably warmer according to peer reviewed studies waiting till the world's end around that time in the middle ages red that what do you mean by end. Didn't they have some kind of a climate disaster wiped out the population actually Maybe not because here we are. I gotta tell you. I remember hearing this kind of stuff in the eighties in college these predictions. That were just you know really dire predictions and then time would pass. Nothing would happen and nobody would mention it again. So you do get a little bit like the boy crying wolf but what you just said to me. The most important piece is that no matter what the weather is doing You're saying that it's simply not a fact that human activity is the main cause. So what a lot of these people are screaming about. They make it sound like. We're all doing something that we could change. And that would solve the problem and we. We don't know that so they're asking us to spend many many billions trillions of dollars to do something without a clear outcome. Isn't that really the main point
Sen. Mike Lee Agrees That We Should Hold Everything Until We Protect Our Border
"Look at the southern border. They stopped building the wall. We have people coming to this country. God knows maybe by the end of the year over two million People who are sick. Many who have this virus may have the variant. May have other illnesses. We have sexual predators coming across. It's not that all people are this way. It's that too many are then we read a piece today about Miners. In our custody being sexually assaulted. Why doesn't the Republican Party get together and saying You know what, Mr President, We're not passing the damn thing until you fix that damn border. Why don't we ever conduct ourselves this way? That is precisely what we should do. It's always hard for me. I can't speak for anyone but myself right in figuring out what motivates people I know that just some, they simply find the siren call. Of bipartisanship and the way it sounds. When it flows off the tip of their tongues to be irresistible. Compounding that siren call is the fact that they get praise from the media. Fourth, they get a short term. Boost from it, and they speak as if as if bipartisanship with this rare commodity Mark. It's interesting. We pass spending bills every year to keep the spending going. In fact, you don't get to be $30 Trillion in depth without a whole lot of bipartisanship going on. Yeah. You do not see that that all requires bipartisanship. Bipartisanship isn't that rare? When it comes to spending other people's money, you know what is rare. Politicians who are willing to say no, even though they will be criticized and vilified and hated in and by and through the mainstream media for it, That's what's rare. That's what we need more of
Sen. Mike Lee Believes We Should Reject This Infrastructure Bill
"I am very concerned Senator about this so called bipartisan infrastructure bill. Whenever I hear that word bipartisan, I get very, very nervous. That just means people agreed to do a lot of things. Maybe they shouldn't do. And as I hear more and more about what's in this bill, it's a monstrosity. It's It's an enormously long bill negotiated by a handful of people in a room with a handful of people from Biden's office. I reject this and let me just give you two reasons Why number one. We know that Democrats are coming right behind with what they claim is 3.5 trying, But a lot of experts say it's actually 5.5. We've already spent trillions and trying to that We have hundreds of billions of dollars sitting around that haven't gone to this side or the other. And I suppose the second reason is, um What is this all for? I mean, we already have inflation That's starting to pile up, starting to to show its ugly head. It's almost impossible to get that under control once it gets going We act like nothing's taking place. I'd love to know your opinion and by the way, great speech on the Senate floor. Thank you, Mark. Thanks for having me on your show. Yeah, I'm deeply concerned about this. Look, I, uh what? We've been told about this bill for months. We've been hearing for months. They're negotiating it. They've spent four months writing it. And we didn't see Bill Text until last night late last night, like nine or 10 o'clock at night. The first time we saw in 2702 pages long, unbelievable. That happens. I get it. But look, it's taken them four months to get to this point. And all of a sudden they come in. They will walk in with 2700 pages, plot that down on the desk and expect us to digest that vote on it and pass it within three days. That is wrong even before we get to the details in the bill, and there are a lot of problems in it. That is wrong in and of itself, and we should reject it.
Senators Introduce $1T Infrastructure Bill; Final Vote Could Arrive This Week
"As this week on a nearly one trillion dollar infrastructure bill. The vote comes. After lobbyists spent millions of dollars that center for responsive politics says the us chamber of commerce doled out the most more than twelve million dollars in the second quarter seventy percent of
Senators Looking to Finalize and Vote on Infrastructure Bill
"Infrastructure bill is written as we mentioned a moment ago, and Chuck Schumer is pushing for its passage. But it's 2700 pages long. It was a long weekend here on Capitol Hill, but senators now have in hand the text of that bipartisan infrastructure package. Total price tag $1 trillion, and that includes 100 and 10 Billion for roads and bridges, 39 billion for public transit and 65 billion to expand broadband Internet. It will now head to debate on the Senate floor, where some senators will try and force some changes. And this will be a delicate task that bipartisan group of negotiators will have to keep at least 10 Republicans on board. This to clear the Senate, and it does face some challenges ahead. Those senators are optimistic that they have the votes that they will pass this by the end of the week. Over in the House lawmakers are already on recess. Democrats hold a very slim majority there, and progressives have already made it clear that they want to see a much bigger and larger package passed first and the House try to force a vote to try and extend the eviction moratorium before they left on that Greece s that field. There's no plans to take this up in the Senate. Now, the White House and Democratic leadership are turning to state and local governments trying to put the pressure on them to quickly distribute the funds that Congress set aside to help landlords and renters of the $47 billion available So far, only three billion has been distributed.
It's In and It's Big: Senate Unveils $1T Infrastructure Bill
"The Senate is ready to debate a massive bipartisan infrastructure package after a rare weekend session wrapping up work on one of president Biden's top priorities it represents the first phase of the president's infrastructure plan a nearly one trillion dollar package for the nation's roads bridges water works broadband and electric rate we haven't done a large bipartisan bill of this nature in a long time Senate democratic chief Chuck Schumer was among those hailing the compromise yesterday along with the G. O. P. negotiator rob Portman it's great for the American people Utah's Mike Lee is among Republicans concerned about how to pay for it the fact that infrastructure is a good thing and that we need it is a different question from whether we can afford the infrastructure plan in this particular case and it's unclear if enough Republicans will vote yes Sager mag ani Washington
What the Infrastructure Deal Means for Energy
"I'm David Brancaccio. Good morning to you. There is now a bill crafted to spend nearly a trillion dollars on infrastructure in America. And while it could pass into law that is not a foregone conclusion. The bill, drafted by a bipartisan team working over the weekend was unveiled last night. It isn't quite 3000 pages long and amendments are expected. Senate Majority Leader Charles Schumer expects a vote within quote a matter of days. Beyond the roads and bridges. Let's look at cleaner energy products there in buses. Hydrogen power charging stations for electric cars. Marketplaces Amanda FEATURE has more on that. Before installing a new electric car charging station. Jonathan Levy says his company Vico needs to know there's plenty of demand. We don't want to overbuild the charging infrastructure and not have the vehicles to be using it. That's where those federal dollars would come in to pay for new charging stations in, say, rural communities. Paul Bledsoe with the Progressive Policy Institute says that new infrastructure would also get more EVs on the road. That's really the only thing holding back people from buying electric vehicles now is concerns over charging the bill. Also funds pilot projects like carbon capture, but it doesn't do as much for more mature, clean energy technology. Abigail Ross Hopper is with the Solar Energy Industries Association. We had our time in the sun as a niche kind of science experiment, but that's over and what Ross Hopper says the solar industry needs to do now is deploy. Deploy, deploy. What would help get more solar panels out there, she says, are permanent tax
It’s In and It’s Big: Senate Unveils $1T Infrastructure Bill
"Capital this morning where infrastructure week may finally have arrived. A bipartisan group of senators Spent the weekend hammering out the text of a $550 billion bill. Now the 2702 page piece of legislation is on the Senate floor. Majority leader Chuck Schumer says it will pass in a matter of days in the end. Bipartisan group of senators have produced a bill that will dedicate substantial resources to repair, maintain and upgrade our nation's physical infrastructure. The bill covers everything from roads, rails and bridges to energy, drinking water and high speed Internet West Virginia Democrat Joe Manchin says the measure is truly bipartisan, having majority leader Chuck Schumer And the Leader of the Republican Party. Mitch McConnell vote for this piece of legislation that says a lot about it. Senator Manchin has said the bill could pass as early as Thursday, along with infrastructure leader Schumer says the Senate will also turn to the budget resolution that carries most of President Biden's economic agenda. Mansion and other moderate Democrats have balked at the $3.5 trillion price tag on that measure. Turning to the
Schumer: Vote on Infrastructure Bill Could Come Within Days
"Rare Sunday sessions underway the Senate as negotiators complete thousands of pages of text in a trillion dollars bipartisan infrastructure bill, said a majority leader Chuck Schumer, once the legislative text of the agreement is finalized and I understand it is being finalized imminently. I will offer it as a substitute amendment. As I've always promised, And then the Senate can finally begin voting on additional amendments. Given the thoroughly bipartisan nature of the bill, I expect will be able to consider all the relevant amendments and finish the bill in a matter of days. Humor says that after the work is done, he'll push through a $3.5 trillion so called human infrastructure bill for its social programs. Three members of Congress, including Missouri Democratic representative Cori Bush slept outside the U. S Capitol overnight. They were protesting the inaction by their colleagues to allow a federal moratorium on evictions to expire. Bush spoke to Fox's Griff Jenkins. I can't for the life of me understand why we are saying it's okay to force people out of their homes because as legislators or because our, uh the powers that be didn't make it happen for anywhere from 7 to 11 million people. This is unconscious. Unconscionable is inhumane, which took to Twitter to call out President Biden and Senator Chuck Schumer to extend the moratorium, as well as asking House Speaker Nancy Pelosi to reconvene the House for a vote during the August recess.
Manchin Hopeful About Passing Bipartisan Infrastructure Bill
"Is at work in the capital, West Virginia Democrat Joe Manchin is part of the negotiations on infrastructure on CBS Face the nation, he indicated it's close to being done. Hopefully, we'll introduce it today. We'll vote on it tonight. We'll start Amendment process, hopefully on Monday, But Senator Manchin says there are still issues with the $3.5 trillion bill tied to it. The president wants, he says, he's willing to look at what's there. I respect my colleagues who believe Something a lot different than I do, and I'm willing to listen and learn. And if we can find that compromise will find it. Mansion says The hope is that infrastructure can be ready for the president to sign by Thursday. Gurnal
Senate Convenes for Rare Weekend Session Over Infrastructure
"Senate is in a rare weekend session in hopes of passing a trillion dollar infrastructure bill before the August recess. Senate Majority Leader Chuck Schumer says the text of the bill still isn't done. Senator Schumer says he'll also try to push through a $3.5 trillion spending, Democrat backed human infrastructure package. That includes mostly social
Senate Work on Infrastructure Plan Slides Into Saturday
"Senators are back on Capitol Hill for a rare Saturday session as they try to make further progress on a roughly one trillion dollar infrastructure plan a bipartisan group of senators helped it clear one more hurdle yesterday and braced to see your support can hold Senate Majority Leader Chuck Schumer said the chamber should be able to process the legislation quickly given the bipartisan support but Republican senator John Cornyn said it's going to be a grind the bipartisan plan is big with five hundred and fifty billion dollars in new spending over five years beyond the typical highway and public works accounts a draft circulating Capitol Hill indicated it could have more than twenty five hundred pages one finally introduced I'm Julie Walker
Senate Work on Infrastructure Plan Slides Into Saturday
"Summer Saturday session on Capitol Hill as lawmakers debate infrastructure The Senate will convene for a rare Saturday session as work continues on the bipartisan $1 trillion Infrastructure plan. As Friday's session commenced. Senate Majority Leader Chuck Schumer was hoping to introduce the text of the bill later in the day might
$1 Trillion Infrastructure Plan Clears Another Senate Hurdle
"The Senate will convene for a rare Saturday session as work continues on the bipartisan one trillion dollar infrastructure plan as Friday session commenced Senate Majority Leader Chuck Schumer was hoping to introduce the text of the bill later in the day it's my intention to offer the text of the bipartisan agreement as a substitute amendment but the full text was not completed Friday and Republicans like senator John Cornyn don't want the process to be rushed to give people more hours to review the process did get pushed along Friday with the sixty six twenty eight vote to proceed to consideration of the bill Mike Rossi out Washington
Brianna Walker Brent, Treasury Department And Jennifer Bracelet discussed on AP News Radio
"Monthly payments for low income families from the expanded child tax credit are starting to arrive the treasury department estimates that over thirty five billion families are receiving payments averaging four hundred twenty three dollars in July as part of the expanded child tax credit part of president binds one point nine trillion dollar corona virus relief package it was great I immediately paid my rent which was late Brianna Walker Brent we do Hampshire is taking care of three children and took custody of two siblings last year it's going back into the day care it's going into the food it's going to the grocery store Jennifer bracelet share is the director of the daycare that Walker's children tend to not feeling quite so like they're living on the edge one study from the center on poverty and social policy at Columbia University estimates the payments could cut child poverty by forty five percent they're also a test of sorts president
"trillion" Discussed on Today, Explained
"Henry petrosky. He is the alexander as vasic distinguished professor emeritus at duke university. He dreams of a day when the united states infrastructure spending seriously. And he's got a high bar because today. The president proposed a historic two trillion. Dollar plan and petrosky was like. Yeah but that's two trillion dollars over eight years and it's got all this other stuff attached to it not impressed..
"trillion" Discussed on Adventures in Finance: A Real Vision Podcast
"That's your for year Agile heavy because that was a year. That richard nixon got in front of the tv cameras in santa is no longer the dollar exchangeable into goals and thirty five dollars an ounce but john was. They'll be here tomorrow inside. So trump nineteen seventy-one today on the dollar has been a piece of paper digital impulse and i submit to you that what this has given us in a certain certainly has allowed incentivized. This pence jetting took a hundred years to get from the first trillion. Ronald reagan got on television around the time. That bond yields peak nineteen eighty-one assault that he got television. We have just reached a trillion. Dollars can get that checked. All explains are difficult that was when bombs pulling up fifteen percent right but notice what happened. Then what happened. Then was he went from one. Trading sorta state twenty seven twenty eight twenty but rates have nothing except go down perfect right inches. All about paradox. All about that thing. That can't happen or just happens to what we have proven to ourselves. Is that the fateful. Jack is of no consequence to anything except the convenience of the make those recipients of the goodies the final brats for be. It's another car children so this. This is grant editorial comment on that. That's backed up by ben. Bernanke you getting started. With kiwi zero offend fundraising the anna shorts treatment votes monetary s to united states. Schwartz says scalded bank for not those two nuggets euro and trillion. But it's okay so that that that these sightings snow but described to knee the arc of our monetary to a see it we have seen or course of a couple hundred years take last year's is less and less individuals. The consequences of core financial decisions like more more is credit cheating a supporter for Nationalized by recycle government certainly from the.
"trillion" Discussed on Adventures in Finance: A Real Vision Podcast
"The i did she beyond the present moment. Not that caught up and saying since they are or have recently been so issues one of pro. Yes and i noticed that i read that section on the history of fiduciary responsibility and it wasn't just about the history of Responsibility was alluding to potential changes. That will occur in the future about fiduciary responsibility in terms of the fact that seventeen trillion of negative yielding debt. It's it's not so unreasonable. To to picture future where that that allocation of seventeen trillion dollars to negative yielding debt might be looked at as imprudent and a day or earlier of that exercising that fiduciary responsibility and so. It isn't as much purely analysis of the pass as it is. The future and i will say your taste if your goal is to Is to pick what you think. Your readers might be interesting. Your taste is impeccable. Because it was a pleasure to read those. But i was surprised at some of the The it's really about the cycles of an actual ideas so in the beginning No people thought that you had the end. Perpetual english government securities called jolt. Strikes recalled consults. That was the bedrock. Very definition of privilege. They'll come to not gordon says it's not necessarily and say look to equity in. It's regenerator a helps you get into the current of actual commercial property so these ideas roll along so you will aid in the wall street journal. Yes reading as as the scripture of present-day. Barnes who are recently super-safe super-safe Super safe treasury super-safe bars. Well isn't safety of function of pricing zeidman not inherited the nature of an asset That was the point of that to show that they're there ain't nothing like inherently fruits or safety is a matter of circuit to be short of social consensus sets but fundamentally underneath all matter financial value. That sometimes the world is mcchord idea and sometimes it couldn't care less.
"trillion" Discussed on Adventures in Finance: A Real Vision Podcast
"For real vision. I max weepy. I'm joined today by jim grant. He's an author historian and the legendary founder of grants interest rate observer. Thank you so much for joining me today. General entirely welcome back well it. This is truly the pleasure all mine here and really. It was a pleasure because i got to read grants industry observer. Actually for the first time. I have been a fan and i've listened piggybacks. Well i've been poor And so i have had the pleasure of being a religion subscriber and i i was introduced to you and your series here. And you're wonderful interviews. But i got to read it for the first time and as somebody who you know really took the title of very literally. I was surprised at how much you observed beyond just interest rates. So my first question for you is what exactly is an interest rate observer. And how does it play out in your writing or we got into business when they're actually word interest rates thirty seven plus show. God you should see her baxter tower by then that the world has been through a generation at half swertz arms are a truly remarkable fair on market will start out at night to quarter seventy four. Six time ended thousand nine hundred eighty one. The head ascended fifteen percents interest rates. Were all the rage. The topic were disciplined real interest rates traits pinched about vadim inflation taking worse symptoms with great so high The government would have to you have to watch itself. It's fares intense. After the bond vigilantes thing will withhold their favors if they decide the beachline decided. That was the that was the background. Shutting to our founding and ninety three interest rate the very very change of the kennedy the marketing sizzle so fast forward amir generation at half in harar interest rates. The world over have made news for under megyn say hard at literal four thousand year boats. They're called in history of interest rates to silla and shimmy culver co-authors and plow through that you will this lowest rate since two thousand sheep featuring featuring all things max morton seventeen trillion dollars.
"trillion" Discussed on The Journal.
"Dot com. Talk to your doctor today. Only so in terms of the packages overall size one point nine trillion dollars being pumped into the economy in various ways. Are you concerned about the risks of inflation that this could overheat the economy that as the country does start to open up as more people get vaccinated that there's too much money sloshing around in the economy and it leads to harmful inflation. The answer to the question of any white house. Economists are you concerned about a risk is never going to be. Now we are always mindful of the non zero probability of any risk. You can imagine. But we've looked at this. Very carefully have been tracking. I myself have been tracking the indicators you know somewhat obsessively here are the reasons why we think overheating risk is considerably smaller than the risk of failing to control the virus. Get the vaccine out there and address the huge job gaps. You know ten million people unemployed eleven million americans at risk of losing enhanced benefits and a couple of weeks first of all the overheating folks argue that the output gap is smaller than many other. Economists believed to be the case in the in the gap essentially just being the whole that the economy is in from best case scenario. Exactly the gap is the difference between where gdp would be at. Its potential with the size of the economy would be if it were running on all cylinders and the actual size. It is now and so. That's the whole that you have to fill so the first thing to recognize this. Nobody knows the size of the output gap. But there's a decent chance it's larger than people. Think the second point is that while the checks and the unemployment insurance benefits get out of the door right away. The spend out of the bill is actually slower than some of the overheating. Folks are recognizing. I think in other words. Jared is saying that the government won't actually spend all the money at once. Some of the funds will be paid out over the next year or even longer so. The overheating theory is partially based on this idea. That one point nine trillion is going to get immediately plopped into the us economy and it doesn't work that way. The third point is that some people will save the resources that they get at least initially because this is a time when lots of people face lots of uncertainty for them to have a bit of a savings cushion is really important to. You've got very out there. You've got lots of uncertainty about the job market and people need that kind of cushion. Many people are accumulating mortgage and rental debt and so rent relief sometimes a saved and then spent a few months later. When it's most needed that also puts some downward pressure on overheating. The savings rate. You just mentioned that is another element here that there are estimates that one point five trillion dollars is pent up in savings that people have put away during the pandemic from not doing all the things that they normally do for those especially who have been able to continue to work. How do you factor that number into this. Yeah no it's a fair question. Rb was that we're looking more at a dinner switch than a light. Switch meeting that I don't think that on monday. Everybody saves everything on tuesday. Everybody spends everything. I think this unwinds more gradually. So there's another riskier which is sort of more of a political one. Which is that. Joe biden campaigned on an idea of bringing the country back together in bipartisanship. It was certainly a major feature of his inaugural address but this is a democratic bill. This is not a bipartisan bill. Why not try harder to come to a compromise on the stimulus with republicans. So when people say to me that this is a partisan bill. I have to scratch my head because i understand what you're talking about but i consider that to be a very washington view in the following sense. Well no no. Republicans voted for it. Yeah so i understand what you're saying. But here's the point. If you look at polling data this bill is extremely popular and not just with democrats and that makes perfect sense to me. Because i don't care if you have a deer or an are after your name. You want schools to reopen you. Want the virus to be controlled. You want people to get vaccinated. You want small businesses to get support. You'd like to see child. Poverty be significantly cut by the way. That's again. That is a bipartisan issue. If you look at republican governors and republican mayors and lots of republican economists. They are saying that. This is an extremely important measure to get out there and people regardless of their political affiliation. Recognize that getting to the other side of this crisis is essential if we're going to finally launch a reliable and robust recovery Is there a data point that you'll be tracking or looking for to know whether in six months or year whether this bill has worked. There's not one data point there's tons of data points on both sides of the issue. Obviously we're gonna be looking at the economy and the job market in particular. We're going to be looking at the unemployment rates and we're going to be looking at the labor market outcomes especially from persons who communities of color going to be looking at small businesses. Were definitely it'd be looking at the extent to which the vaccine is getting into the population and of course we're going to be carefully gauging. Inflationary risks along the way by looking at the kinds of gauge. As i talked about with an emphasis on expectations. i.
"trillion" Discussed on WSJ Opinion: Potomac Watch
"Now as you point out it's revving up and with more openings had We just had some moves in texas. We have floor being open. We have other states dropping different restrictions. You know how many customers they can have a shop so forth. I think it seems set. But i think the democrats are are wed to this net narrative that nothing was happening until joe biden. Got into office. And we're just showing that we're doing something even if the real stimulus To to what we're seeing is just america getting back to business people going back to work and the economy finally having a chance to expand but why doesn't biden have an opportunity here to dial back that headline number. I mean he could say kim. I proposed one point nine trillion back in january. But the american people can't be stopped. We've got the new johnson and johnson vaccine approved We are doing lots. And lots of vaccine dose administration. The economy is set to roar back so we should save some of this money for my infrastructure. Bill or whatever else i mean. He could make that argument. I think he could actually would probably be wise because the appetite for huge additional bills for some of those priorities. That you just mentioned is going to be much smaller if you are putting a one point nine trillion dollar Additional covert fill out the out the door. First thing in coming in I think the reason that they won't is that they they have used this bill. They decided early on to use this bill as a vehicle for all kinds of non cova related spending that for many democrats in particular liberal democrats This spending is as important as infrastructure as important and we britain about this and talked about it at nauseam at everything from expanding traditional entitlement programs To try to hook more people into obamacare to bailing out. They're buddies multi employer pension plans. You know the list goes on. This is a liberal wishlist. And so they are not going to Blow a crisis as it. Were you know this is why you won't get the white house. Also admitting that things are looking up and things are looking better given vaccines going out and cases coming down because they want that sense of crisis that sense of urgency to justify the enormous size of this bill and along the way sneak through you know more than half of it which has nothing to do. With calvin. It also seems to me. Maybe this is wrong but it seems to me that part of the dynamic to is just that once you stake out a position in washington and the other side lines up in opposition to it. You don't. there's a reluctance to back down from that. But there's this this one point trillion And the state of the economy is so closely tied with what the virus is doing. And how the vaccinations are going..
"trillion" Discussed on The Daily
"If it doesn't there's an insurance policy here got it so. This is a two trillion dollar insurance plan against the possibility that the recovery is not as fast or as thorough as everyone would like for it to be in the coming months and some of that money won't get spent as in all insurance policies if it's not needed right absolutely is especially an insurance policy for people in the low income end of the spectrum people who have lost their jobs who have lost ours who are struggling to make rent and put food on the table. They are the ones still hurting right now and the tragic possibility would be that. If aid gets cut off too soon we could come very very close to the end of the pandemic and see people start to fall through the cracks. Lose their homes. Go hungry suffer. Just immense economic distress when tru relief and recovery is just right around the corner as the economy hopefully brightens up again..
"trillion" Discussed on The Daily
"Vote for it but it wasn't enough. That was too small. That didn't meet all the needs of the economy. They do not want to make that mistake again. They'd rather have too much than little because the lesson they learned from two thousand nine is. It's hard to come back one more time. Once you've gotten your first big bill as a new president so there have been quite explicit. This they are okay with the idea that this might be too big. That is fine with them. Yes what they say over. And over and over as the risk of going to small is much larger than the risk of going to beg and they would much rather take that risk of being too much money then. It's not enough so jim taken together. What would these provisions mean for a low income family in the united states with children it would mean a lot of. It'd be thousands of dollars per family so you get money from the direct checks. If you are out of work you'd get more money for unemployment insurance and you would get this expanded child tax credit which is up to thirty six hundred dollars for the year for kids under six and three thousand dollars per year for kids under eighteen columbia university estimates that if all this was passed it would cut child poverty in half in the united states. And that would be a very meaningful accomplishment. Yeah and jim from the start when when this package was announced it's been pretty clear that congressional democrats have welcomed more or less. Is that right. Democrats have remained really unified over the overall scope of the bill. They've had some disagreements here there. Over individual provisions most notably. They changed who exactly was eligible to get those direct payments and they've had a big debate between the progressives and the moderates in the party over the minimum wage and whether it should be raised to fifteen dollars an hour as part of the bill but for the most part just hung up. They've hong together and they said joe biden wants a big bill. We should give them a big bill and be pretty differential to how he wants to spend the money within that bill now republicans not so much. No republicans do not think. The economy needs one point. Nine trillion dollars in stimulus right now and they. In fact went to negotiate with joe biden. a group of republican senators. Ten of them went to negotiate with him shortly after he became president and they've brought their own proposal and it was six hundred billion dollars. Let's talk about that number because six hundred billion is not just smaller. It is a third as big. I mean it's much much smaller. Yeah the republicans had a real idea. That biden would negotiate with them. He made an opening bid they were gonna make an opening bid in the middle start. Maybe they meet in the middle. Maybe not but that was their expectation. Joe biden's called for unity bid and go negotiate this dollar figure down significantly and that didn't happen. The biden administration basically said we are willing to negotiate in the realm of what we think is necessary which is basically pretty close to one point nine trillion and so that left them very far apart right and my sense is that democrats and the president have basically said. Thank you very much for your six hundred billion dollars proposal. We really like our one point nine trillion dollar proposal and we are going to go on our own yet and usually that would be kind of fatal for a bill. You need sixty votes in the senate to pass almost anything because of the filibuster democrats are employing kind of special work around. Called budget reconciliation. The same process used to pass the tax cuts under president trump in two thousand seventeen and essentially what it does is. It allows certain bills the deal with taxes and spending to pass with just fifty one votes in this case for the democrats all fifty democrats on the chamber plus the vice president kamala harris breaking the time got it and they think they can pull that off but of course that would mean not having any republican support for this giant stimulus package..
"trillion" Discussed on The Breakdown with NLW
"Stop hearing yesterday and why it shows how much we need a new financial system. I was sitting here getting ready to push that out when all of a sudden bitcoin did bitcoin things and surged up to a trillion dollars in total market cap..
"trillion" Discussed on The Way I Heard It with Mike Rowe
"This the the these dark things lurking space out there but at any rate puto so far away now. It's so far away from the sun this far less light pollution. I mean just like when you're near a big city the sky is bright and he can't see his much you got into the country all-stars come out. This spacecraft is farther away right now than we've ever been able to make a really good observation of the sky. It's got much better cameras on and so their observation basically looked at the background glow of the sky not stars not galaxies. But how much light was coming when you get away from the The actual light pollution of the sun and they said this is amazing on the. There's actually twice as much light coming that we can't even tell where it's coming. It's just a diffuse glow in the sky. Then all the galaxies and stars we see so in fact. Their measurement was that the darkness of space was even much brighter than we thought when they got out there but they said based on that guests of two trillion galaxies. That background light probably two trillion. Galaxies would create a brighter background. The met so it's probably less than that guests of two billion so you have to observations on either side and then you have this this educated excellent guests in the middle and they don't agree yet because we don't know but we don't know what the brightness would be of these distant galaxies yet we don't know how bright the stars might have been that long ago that far back in the universe. We don't know how much dust there might be between us. In those galaxies. There are many many factors. We don't understand and so we don't know yet what the right number. Some people are estimating kind of high. Some people estimating kind of low. We're trying to base this on his many observations as we can get. But why does it matter. Why is it important to to to know if they're two hundred billion galaxies versus two.
"trillion" Discussed on Armstrong & Getty
"News that is good and we'll fill in any gaps and it's absolutely remarkable and let me tell you. I'm sitting here going through the data because the headline doesn't do it. Any justice durable goods through a forty five percent nondurable goods. These are things we by NAPA durable goods essentially are things we buy that we're going own for three years along like a refrigerator nondurable goods up eighty, two percent domestic investing. This is what we did as as people not businesses up eighty three percent residential investing homes fifty, nine percent. Held. US back obviously, we're not buildings. Yeah fifty nine percent I mean these numbers are absolutely remarkable would help us back obviously was government spending down eighteen percent structures which has been a long going thing. You know businesses mostly invest in technology rather than building new plants they. Them for the twenty first century. So this is a long term friend that's been a place anyway. But if you look at the details, it's even better than the headline. So third quarter stuff is out today and this week and often that scene is a big deal right before a presidential election. Sometimes, presidents are really hoping that last number's a good one or you know whoever's run in hopes the opposite the economy grew at a record breaking thirty three point one percent annual rate in the third quarter, which is just astounding. Back and better than ever. That's that's absolutely incredible. You know we had a long way to to come back from because it went down so far shore. Now, the weekly jobless claims fell again to seven hundred and fifty thousand. But again, that's seven, hundred, fifty, thousand and applied in the last week, and that is way above the all-time record pre pandemic. It's like twenty, five percent on. Six hundred something. Record that's just so man. Way, higher, than the all time previous record. So it still terrible. But headed in the right direction, stick my neck out and say I can't wait till this covert thing is over. This hasn't been good I I'm not enjoying it not even a little. Terrorist attack they're calling it in France this time in a church. So you remember they beheaded that teacher a couple of weeks ago. Then they attacked some other dude somewhere else. So that's three or four out of the Charlie Hebdo Ri- So now, they're murdering Christians in churches and beheaded a woman in a church oh Lord. Yeah and so there are a couple of things going on the guy was screaming Allah Akbar. They shot him he's not dead in the as he was being shot Ashby input put on the Gurney as he is being put ambulance being enough. Yeah. Show off our idea of what his motivation was. Is it because that teacher was drawing Mohammed to make a point recently or is it because the Charlie Hebdo trial is going on? That was the magazine published Mohammed cartoon all of the above all of the above. Yeah. They're just the the the Islam Oh fascists are just want to say, Hey, you can't do this. I guess life was getting boring a quick reminder that fundamentalist Islam. Speech, they hate to freedom in general. They execute gays they just they will stone a woman to death for being raped Let's not forget fundamentalist Islam everybody. And I had a quote from the mayor there all the mayor in. Niece France. Spent. A delightful half a week in Swanson. Is Indeed, why only half a week? I had other places. To do. You spend three days. That's plenty. Anyway basically again, finding, he said, we're not putting up with US anymore I don't know what that means or will liberal member niece was wear that fundamentalist must mowed down killed ninety three people with his truck. The beheading today is that still can't remember as a big holiday. The beheading today's church was less than a mile from where that happens little areas. Yeah. Yeah. Anyway. So that story is back if you wondered what the world would be talking about when the election is over in might be. Fundamental fundamentalist Islam. Particularly in France I, say this every time read the book submission about France. So damned interesting about what the future could hold for. Governments if they don't stand up to this, oh. Yeah. Craziness me. Evildoers understand our politics they understand our media and they understand how to manipulate them. So Anyway Gosh Dang it. That's what we needed another layer of horror. Top of the current situation we also have for you all three hundred and forty Bruce springsteen songs ranked from worst to best the I've got to from a couple of sentences to a couple of pages comment on each of the songs I feel like we should mention the five worst in the five best at least I'm interested myself. I listen to that new album the other day when it came a-. It's his first with the East Band and fifteen years earlier it sounded exactly like Bruce springsteen in the east rebound. If that sort of thing, it sounded exactly like how lecturer is songs I probably listened to eight songs and I didn't get any lecturer at all. Okay. Fabulous. But it sounds like Bruce springsteen and Easter band I mean I can't say that anymore it's just it's like it could have come from any era Sound.
"trillion" Discussed on Armstrong & Getty
"The Armstrong and getty show grasses. Some good economic news, some bad coping news. Some I wasn't going to say good or bad just some election news. and the Guy who runs reason magazine on the gazillion reasons to be horrified by Biden Presidency Oh I saw that. Man If. You'd like to be horrified stay with us. It did remind me of some really important stuff that get get lost. In personality, parade, idiotic headlines, and the unserious -ness of the media, the personality parade, right? That's pretty.
"trillion" Discussed on Slate's Political Gabfest
"To us on. You'll get new episodes. The second they come out that is our show for today the Davits is produced by Jocelyn Frank. Our researcher is bridget dunlap. We all engineered ourselves in our own homes. Congratulations to us for Emily Baz Lan and John dickerson. I did lots. Thanks FOR LISTENING TO PEOPLE. Talk to you next week. Hello slate plus how are you? How are you were you guys? You guys still. Yeah Okay just wondering just felt like talking to the void for a bit there anyway. So firstly plus here is my proposal. This shutdown this social distancing so odd so many strange experiences too so weird to run through life and I just wanted to. After ten days of this fourteen days of it ten days of it I am interested in you whether you guys have any particular observations about any strange experiences any points that you WANNA make I can go first. Since it's my with my bad idea. I think for me so I've been doing a lot of walking. I believe that the outdoor outdoor walks in nature very curative. And restful and good for you and that's been weirdly one of the very few joys of star period and going on walks with family and one of the things that I've just noticed that notice like noticing all these things which I haven't noticed before and I've been on trails and Rock Creek Park that I've never seen and seen parts of the city that I'd never seen and noticed things there's a trail. I walk almost every day just outside my house and the different ways that burge use it and notice the different way the the trees next to it grow and noticed more things about the stream that I'd never noticed before and it's I think that when you travel the world as you and you John Emily and I have all done. I think you tend to tend to get a very quick gloss on something rather than digging deep into a particular place and it's been one of the few benefits of this is to feel it digging deeper into the place that I know and to the place. That's my home. And that's that's nice to get a deeper knowledge of a place. That's around the corner from me. I've welcomed that. I love that I think there is a way in which when you simplify and shrink your life than the small things loom larger. And that's a good thing. I can also just be like Elvis fans. That was just a teaser to hear the rest of our slate plus conversation go to sleep dot com slash plus to become a slate plus member today..
"trillion" Discussed on Slate's Political Gabfest
"You could not protect yourself. You could not protect the guy next to you. You had no control over your own fate. This becomes a shock to systems of thinking. systems of coping Ideas about the proper relationship of individuals to their society individuals to their governments. So it's it's it's a total. Social shock of a war became so large that it eventually would slaughter close to seven hundred fifty thousand people David in your Atlantic piece you wrote about Lincoln and his leadership and then you also write about Franklin Delano Roosevelt and the way in which people's relationship and expectations of the government changed in the wake of the Depression has Roosevelt is pushing for the new deal. And there's a quote that used from an FDR fireside chat in nineteen thirty five the old reliance upon the free action of individual wills appears quite inadequate the intervention of that organized control. We call government seems necessary. So we're at another moment where we desperately need the government. We needed to lead. We need organization we need just like simple or not simple but centralized logistics to get all the equipment we need from one place to another and you know obviously. Donald trump is a very different kind of president. But we're at this moment where we really need the federal government to be playing this larger role and one thing. I've been struggling with as I've been watching. These press. Conferences is what it's like when you have such profound doubts about your central government in your leadership at this moment. I mean trump himself but then also the apparent failures of some parts of the government. I would single out the CDC perhaps Centers for Disease Control in preparing for this pandemic. And I just wonder as you look back on. Fdr On Lincoln how you think about those struggles that the country's going through love the question. I'm glad you're that quote. Let's take up. I that idea of the individual I mean is there a deeper idea deeper myths and the anthropoid logical sense in American culture than this faith we have and individual? You can't kill it. No matter what Whether it comes from Emerson the Romantics or whether it comes from cowboy legends or whatever you just can't kill it And we we still have this notion that somehow We can all be self made. We can We can all a save ourselves if we get into the right gated community or if we have enough wealth or if we have enough education turns out in a crisis like this were terrified is individuals. And that's exactly what Roosevelt was saying there and that nineteen thirty four. Thirty five fireside chat that in fact he even referred to it as the nineteenth century idea of of frontier. He says his idea of the American going out in conquering and solving dilemmas of the frontier on their own individuals. Hardy men just didn't fit the modern world anymore. In fact hadn't fit the age of industrialization and urban is Asian of for many many many decades and suddenly the depression through everybody back onto their own wits in their own wits. Were not adequate for anything. So where do you turn your turn to government? Well that's exactly what happened in the civil war in its right. The in fact one of Roosevelt's favorite quotes was the quote by Abraham Lincoln. Where he said that the purpose of government is to aid human beings in what they cannot do for themselves. That's a paraphrase. Lincoln said it better as usual and in the civil war suddenly people start capitalizing or government People started talking about the government is something that would help them. Save them preserve their society preserve their constitution act as a kind of a shield on most Americans until eighteen sixty sixty one had never experienced the federal government except largely through the post office. there was no of the federal taxation there really were no federal agencies that engaged in people's lives there certainly were overnight when the war came so he got here and then the reason. I wrote that pieces because I was like you Emily just struggling tap something to say in the midst of I guess. Those press conferences Or anywhere right now and it's just all over our discourse it's everywhere people are wondering what's the role of government. What CAN GOVERNMENT DO? What is government doing? Why isn't what it's doing adequate In desperate kind of language. Now we're asking what governments can do. Necessity always invokes government. Where do modern people turn when they cannot do for themselves? What they most desperately need for two centuries the have turned to government and as much as this society still has millions of people who don't trust government don't like government won't government out of their lives taxation Right now everyone is desperate to understand. How is government going to save us and picking up on that? David before revenue. We had you To talk to I was thinking about something. You said Last summer when I talked to you about Your book on Frederick Douglass and we expanded the conversation a little bit more and you base and you said we were talking about why you study history which is also one of the things you recommend while people are in lockdown and you said you know we forget good ideologue you said that we we forget about it and then every once in a while history reasserts itself and just sort of us in the back side and you talk about necessity of the moment but your larger case seems to me to be. You know what this keeps happening because this is the way the ball bounces in the human experience and maybe we should know from studying history. Either whether it's Lincoln or FDR that big existential surprise things that nobody knew. We're GONNA come that week. They might have known it was going to come someday. They happen and given that so. Can you pick up on that idea? Basically that One of the reasons that we read history is not just for the specific excitement of the moment but also because of that more enduring idea. That emergencies always happen. And Hey maybe we should do something more than a late night. Vote in the higgledy-piggledy of the moment Yeah well a beautifully put John You know. None of us should take any particular high ground in this. I mean who predicted the end of the Cold War in eighty nine when it suddenly happen Who predicted nine? Eleven while you know we can find that the CIA had been working on that and of course we know more now You Know Pearl Harbor happened in. Its shocked the country. But we knew something about with Javanese or doing in the Pacific too but the there many many cases of this in history and every time it happens we are shocked. For good reason you know even nine eleven was not unprecedented. Everybody kept saying that was unprecedented on president unprecedented. No it wasn't and we've been slaughtering civilians ever since the Trojan war. I mean so. I don't know. There's no silver bullet on any of this but history. Is that saying we have to draw on if we can take the time to read? It prepares us. It doesn't protect. Its but it does prepare us for the shocks to come in if we think somehow that history because we live in America is somehow on of course the progress in somehow always going to get better Than we're kidding us. Notice him These things are just going to keep happening. One of my favorite things ever written on this is is to. It's a little short section and a book by Mark Block Mark Block was the great French historian killed in the Holocaust by the Nazis. But while he was in hiding the French resistance and moving from farmhouse to farmhouse he managed to write most of the manuscript. This is so moving. I almost break up a guitar at tell. The story managed to write. Most of the manuscript of his book called the craft of history and in that book which has many many important elements. He makes a profound case of how the past and the present are always hand in glove. They're always inter related even when we don't know it even when we don't think so he calls it the solidarity of ages past and present are always mingle and the past is always waiting to come get you in the president. Who would who would know any better than mark? Block sitting in some farmhouse hiding from the Nazis. Trying to write about the meaning and uses of history. For God's sake No doubt it probably calmed him until they caught him and shot him with a firing squad. History shocks us in right now. This one frankly. We don't really know what the analogy is. Dewey analogies are flying around now like like air it probably more analogies in there are virus Bad Joke but everyone was looking for the right and as this Pearl Harbor. It's the same thing we did with nine eleven but in some ways nine eleven was a little easier. It was a military attack. We knew what to compare it to when you compare this to. I guess the nineteen eighteen epidemic. But we've never shut down the entire economy which never closed off all transportation. New York City's never had empty streets even in a blizzard. I mean it's just never happened so you know we don't know how to prepare for this about. We did not prepare for this and didn't in certain practical ways but how to prepare ourselves emotionally philosophically spiritually right. Now were Adrift David. The period politically that. We're in has been marked by incredible division just country. That's that's as divided as certainly any. It's ever been in my lifetime when you look at what's starting to happen. And the government response to the crisis. Do you think there's any reason to hope that we come out of this? Less divided or are the ways in which we're divided more likely to be reinforced. By what happens during this. Well God only knows but it depends on how long this lasts. It depends on how deep the suffering is. I think our models for this is what probably happened. The politics in the thirties and politics in the year of the civil war. I always tell my students. If you are really yearning for a political realignment in America I mean a fundamental realignment like new parties that actually work and develop new coalitions. And last you got two great models. The eighteen fifties in eighteen sixties the birth of the Republican Party which completely reshaped American politics with a whole new coalition. And you got the nineteenth thirds which completely reserves American politics and the Democratic Party not overnight because its roots are in progressivism but the Democratic Party becomes the party a new kind of liberalism. New Deal Policy on the Republican Party at that time increasingly becomes the Conservative Party of big business. Those are two really big realignments in American history. So take your pick. You can have it with a civil war you can have it with the Great Depression. That's pretty depressing when you think about it but who knows What this kind of crisis could do the irony here or the power of this is it. It has everybody talking about existential issues. How are we GONNA feed people? How are we gonNA save our our our medical people? The nurses and the doctors who are not risking their lives every day How are we gonNA ever revived the economy out of this all of those questions? Everybody has to ask. But it's GonNa be a turbulent road. David what are you you picked you talked about? Lincoln and FDR so do you have a template again given everything you've just said about politics today For how people got through I mean. Fdr comes in in thirty two. It's been since twenty six. They've had to endure lots of uncertainty and lots of and the the leaders and the people the leaders in particular. Both of those guys where you know. It was said that they had this great negative capability that they could live in the uncertainty and not go stabbing after solutions on the other hand. They took great actions. Amazing historic actions. Can you talk a little bit about that combination of attributes in the leader but then also in the people how do people live through and perhaps they just were used to it in a life where you didn't have instantaneous? Everything the way we do now but live through the uncertainty and the just existential Wednesdays ever and houses ever GonNa get better well on the ladder questions on a lot of them didn't well let's remember Civil civil or kill Lotta. People maimed many more left families. ruined We have to face that we need. We need a very strong sense of authentic tragedy. Understand that back the leadership. It's worth understanding here. And just a quick sense that link neither Lincoln or Roosevelt had it all figured out. Both of them had very crooked roads. Lincoln had a crooked road to his moment of greatness with immense patient and his various moments of greatness with this Hash to save the Union. No matter what the. Lincoln eighteen fifty eight debating. Stephen a Douglas on the question of slavery is not the same Lincoln of the summer of eighteen sixty three or certainly of sixty four when he is so concerned to free as many slaves as possible before the election. That fall in case. He doesn't win Roosevelt at a very crooked path to the ideas of the new deal he was spewing all kinds of contradictions. You know when he was governor of New York and when you even when he was running thirty two No one quite knew. Roosevelt meant and Kinda got it clear in the campaign and then in thirty three he kinda got it down that look. We've got a revolutionize the way we use government to save society to save employment to save the human spirit and we got to have a whole new imagination. He says we need A. We need a whole change in our.
"trillion" Discussed on Today, Explained
"Mark it's Wednesday march twenty fifth and the country's gearing up to make it rain two trillion dollars. I'm Sean Romney's firm and this is your corona virus update from today explained..
"trillion" Discussed on Talking Tesla
"That's good business to be in our do that european it sounds good year the global broadband market white worth about one trillion dollars a year excuse me that's more that is a little bit let me just do the on that a billion is loons and trillion incur the six it's a ton lower long i got for sure we are giving an order of magnitude the best thing without the thing no one's ever going to hear what you just sad that that's a ton that starts with an f yeah yeah and and it's within tanya i mean it's a law it's an order of magnitude more there's so many wary orders of that we could have gone with evidence actually you handle the not on gentlemen near welcomed so this is like something that's going to put speight you know how much will spacex be worth at that point one hundred and seventy two dollars 94 four it's going to be so valuable can you imagine if they pull this off and that i've got fast broadband network road across the world and i can get from melbourne sydney australia laos of portugal and i've just got my voice in un apple more countries uh the scotland i go anywhere uh i'm just pine tests are hundred bucks a month royce outta world both of access how quickly will i say to eighteen take but by yeah i don't i don't know how quickly fuss and there are very funny this is pretty impressive they talked about where's the new bfr factory going to be so she spells it out louisiana and we talked about the nasa site that was in louisiana i forget the name of it just now but they want to keep it near the water because they said it's too expensive to move big things from the hawthorn factory to the harbour quote we price transport to the harbor and it came out to two and a half million dollars per trip.
"trillion" Discussed on The Jason Stapleton Program
"Because the american people don't and that's all he cares about when it comes to getting reelected but let me explain it to you guys twenty trillion dollars in debt a hundred and fifty two two hundred trillion dollars in unfunded liabilities at stuff that we promise to pay for but we haven't yet had to start paying for hundreds of trillions of dollars the government continues every year to spend a trillion dollars half a trillion dollars more than it brings in do you think that that's never going to have an effect moore couple of weeks ago before i left i talk to you about budgets and i said the government will try and convince you that the the same rules of economics and budgets don't apply to them that apply to everybody else that the rules are somehow different and i said don't believe them if it doesn't work for your own household a dozen worked for government think about this for minute let's just say you continued two spaniards he made one hundred thousand dollars a year and you ended up spending a hundred and ten thousand dollars a year every year ten thousand dollars more than you brought in it's actually be closer like it to be accurate it'd be closer to like one hundred fifty thousand dollars a year so you make a hundred you spend two hundred and fifty and he's like i would put on a credit card we can finance that as she is i mean that she's an extra three hundred bucks a month and then the next year you do the same thing in the year after that you do the same thing before you know you got four hundred five hundred six hundred seven hundred thousand dollars.