Hi everyone, this is Dr. Nitin Chhoda with
Ignition Time and welcome to my channel.
Thank you so much for making our channel
one of the fastest growing channels
on youtube for information on the
current state of politics, on personal
finance, on stimulus news,
on unemployment news. We appreciate you
very very much. My name is Dr. Nitin Chhoda
with Ignition Time and let's jump right
in. I want us, I want the community to brace
for lots of turbulence. 
I want us to buckle up
because the ride is about to get bumpy
in the next couple of weeks.
Right now we're in the first week of
September and right around the 14th
of September is when we can expect a lot
of news to come in because
without additional funding at the end of
this month
the government could shut down. Now i've
said this before, for me
the government shutdown seems absolutely inconceivable
in the middle of a pandemic, in the
middle of a major economic crisis
and weeks before an election. But this
has not been a normal year. In fact this
has been a year that almost all of
us, I would say all of us
want to forget. We want to look back
and say 2020 what?
What was 2020? Never mind, let's not
talk about it.
So at least that's been my perspective.
Now keep in mind that at this moment in time
the gridlock between the White House
and the democrats continues. Now i'm
going to take you behind the scenes
and give you some information about
what's likely to happen in the next
couple of weeks.
Oftentimes we process the news and we
try and understand it but i'm going to
try and look at this at a higher level big
picture and let you know what to expect.
So let's start with the skinny bill or
the targeted bill from the republicans.
They initially called it a skinny bill
and now they're calling it a targeted
bill because that sounds a little bit
better. Essentially the senate can indeed vote
on a bill and can even pass a bill but
it has no meaning
other than a symbolic significance other
than a public relations exercise
about you know this republican saying
hey we tried to do something the
the democrats to their ground.
Keep in mind that for a bill to become law
it needs to be debated on and voted on
by both chambers by the house and the
senate. Now if the republicans pass a skinny
bill or a targeted bill you can call it
whatever
you want. You can call it a lightweight
bill or a weight watchers bill doesn't
really matter.
But if the republicans pass a bill but
the democrats will be like eh we're not
even going to talk about it we're not
even going to vote on it.
Which by the way is pretty much what
happened with the Heroes Act except that
the heroes act you know originated in
the house from the democrats and went
nowhere in the senate.
So think of this as you know the
micro heroes
act 2.0 except that this is originating
from the republicans.
If the republicans pass a bill but it uh
it is not voted on and not debated on by
the democrats. It's just a complete waste
of time.
So can the republicans, can the senate
pass a bill
without the democrats? Yes. 
Is that likely to become law?
No. As simple as that. There you have it
that's the end of the story
as far as the senate taking action is
concerned but this is important
at this point because we're getting so
close to the election this is becoming
not only an economic exercise
not only a way for for the
administration or the democrats to try
and help people well let's assume they
want to help people
but it's becoming a public relations
exercise
it's becoming a talking point for the
upcoming presidential debates it's
becoming a talking point
to try and help you or to try and sway
your vote in november that's what's
going on right now from
both sides games are being played from
both sides so
if the senate passes a skinny bill or a
targeted bill next week
you know as far as we are concerned we
can go
all right that's the end of it because
it's not going to mean anything because
it's very clear that house speaker nancy
pelosi is not budging
therefore it's not going to do anything
so here's where things stand right now
there's going to be a lot of posturing
next week so you can expect that by the
way
if you see a lot of hype in the next
week or two
on on youtube or on you know doesn't
matter whether you watch fox news cnn
msnbc it doesn't really matter what you
watch
don't give in to the hype because if
both sides if both chambers don't
vote on something don't debate on
something it ain't going anywhere it's
as simple as that
the president can want what he wants the
the senate
the republicans can want what they want
by the way there has not been consensus
amongst republicans let's be clear about
that that is a fact
okay again for me it's not about the red
or the blue it's about the red white and
blue there has not been consensus
and because of that you know the two
sort of there's there has there's been
some
friction between the administration and
the republicans but as far as the
democrats are concerned they're standing
from these guys can want what they want
but uh you know without the democrats
they're not going to get anything done
because the state
of the because the the way things are
right now democrats control the house
republicans control the senate
so there's going to be a lot of
turbulence in the next couple of weeks
i believe that we'll start to see some
actual things happening
right around the middle of september and
a lot of people are talking
about you know democrats uh maybe
buckling and maybe
uh giving in and going to house speaker
nancy pelosi but so far house speaker
nancy pelosi has stood firm
but they have there have been some signs
of democrats saying hey we need a
consensus we need
stimulus because my constituents are
getting upset
now keep in mind that republicans also
feeling the pressure which is why
they're introducing a skinny bill or a
targeted bill uh next week
and you know there is pressure
essentially from both sides now
as we get closer to the to the deadline
to the end of september deadline
i do believe that both sides are going
to be more likely to make a deal
because it is a political necessity and
an economic reality
that you know that a deal should happen
should it have gone on so long should
should there have been so much drama
should they have been stalled
negotiations absolutely not but
you know unfortunately um you know none
of us have the ability to turn back time
so we can only focus on where we are now
and
what's going to happen in the future so
senate minority leader
uh chuck schumer and house speaker
pelosi are standing firm
and the democrats want right around 900
billion dollars in state and local aid
and the democrats want to do 150 to 200
billion
that is one big sticking point and they
are also quite a part on school aid
democrats want something on the order of
400 billion dollars and republicans
are at 105 billion dollars that's the
second sticking point the third one the
big one
is a piecemeal approach which is what
the republicans want which is what u.s
treasury secretary steve minuchin is
advocating which is why the president is
advocating
let's do something focused on stimulus
checks and unemployment benefits by the
way
with the election coming up uh more
money in the hands of individuals
immediately is going to be a political
advantage
there is you know there's no doubt about
that so that that explains
why you know the president trump would
want to do a stimulus check
and also if there is a stimulus check a
second stimulus check both sides will
want to take credit for it so there is
that
you know there is a short-term uh
gratification component
but there are long-term consequences to
the second stimulus check there's eight
to state and local governments there's
eight to schools
there's so many other things that that
also need to fall into place
that are as important as important as a
second stimulus check
and the extended unemployment benefits
because we're talking about the health
of the whole country
we're talking about the health of our
children we're talking about the health
of our first responders so
i want us to be responsible citizens and
global citizens and look at the big
picture
because you know we're all we're all in
this together so
what's happening right now is as we get
closer to the deadline could the two
sides come closer together i think yes
and i believe that um right now there
are right around 11 days left in session
for two sides to pass government funding
right now only 11 days are left until
the end of
september uh work days and
you know will we see a consensus in
those 11 days it seems
difficult but you know anything's
possible but one thing's for sure we are
running out of time
um maybe maybe and i hate to say this
we should be thinking what if an actual
government shutdown actually happens now
let me be clear i don't want it to
happen none of us want it to happen
what if a government shutdown actually
happens weeks before an election
my lord that's going to be um that's uh
that possibility at this moment in time
is highly unlikely but it is still a
possibility
never thought i'd find myself saying hey
a government shutdown is possible but
let's be real here the two sides are so
far apart
i have no idea why you know some others
say oh you know there's going to be an
agreement tomorrow oh they're gonna
they're talking and they'll look
no that's not where they are right now
unfortunately that's not where they are
right now
you know it prove me wrong i hope
there's a surprise tomorrow
so uh this channel is about honesty and
i'm going to give you the truth
right now there is zero zero consensus
at this moment in time i hope that
changes and when it does
i'll let you know um as you know
yesterday and i did cover this in the
last two videos on our channel the us
treasury secretary did talk about
calling the the house speaker nancy
pelosi when he was speaking to lawmakers
yesterday he did call
house speaker pelosi and the speaker and
uh u.s strategically steve mnuchin a
representative of the white house
so the white house and the democrats
spoke a 36 minute phone call
unfortunately it didn't go anywhere and
the speaker issued a statement which
included
uh a very important emphasis on doing a
full comprehensive approach versus a
piecemeal approach
which just tells us how far apart these
two sides are because there's
so much that they need to work out some
people will say oh it's a state and
local aid nope it's not just that it's
you know aid for schools and healthcare
oh it's just that no it's not that
it's a top line number oh no it's not
just a top line number it's about a big
bill or a small bill
that's how far apart the two sides are
other differences political ideological
yes they are they're both and are people
stuck in between through no fault of
their own
yes um is this resulting in
those who needing those who need help
the most not getting it yes
unfortunately that's what's happening
and um so that that call
uh with us trajectory minutiae between
mnuchin and
and house weekend nancy pelosi did not
go anywhere i'm not gonna waste time
talking about the problem solvers caucus
because the problem solvers caucus has
never really solved a problem
and the only way they can get traction
is you know
if they somehow stick together and vote
as a block you know because
uh in the house there needs to be you
know coalitions and groups
a couple of you know few senators here
and there i i don't believe the problem
solvers caucus
is worth discussing at this point in
time because this
is a high level negotiation between
house speaker pelosi
and uh your strategic receiving and mark
meadows that's it end of story bottom
line
that's where things stand right now
whether we like it or not that's just
the way things are right now and again
if we do see a vote next week from the
senate it seems like uh
there's going to be a wednesday vote
next week
and right now we don't know anything
about uh whether it's going to be on
wednesday we don't know anything about
the contents
it looks like uh it's not going to
include stimulus checks
but it may include money for schools and
unemployment benefits so that's you know
that's encouraging
um and senate republicans looks like
they will gather 51 votes
for that bill because remember they have
to get other gop senators republican
senators to agree and a lot of senators
didn't want to put in any more money but
it looks like they will get 51 votes
and it seems like the leadership is
moving towards a wednesday vote um but
right now we don't know it's
a skinny bill some people call it
targeted because skinny sounds bad i'm
going to call it a weight watchers bill
because
it's not going to go anywhere it's a
waste of time and
that is you know that is where things
stand right now
unfortunately you know uh there is no
clear consensus between the two sides
but that is
the current state of stimulus
negotiation thank you so much for
watching
i really appreciate you my name is dr
nitin soda with ignition time check out
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