[Music This is now ░░░░░░░░ systemic effort to basically ░░░░░░░░ the vote away from ░░░░░░░░ Americans and to the ░░░░░░░░ of a political process ░░░░░░░░ I ll give you ░░░░░░░░ example a former colleague ░░░░░░░░ mine who s now ░░░░░░░░ of Florida Ron DeSantis ░░░░░░░░ the election last year ░░░░░░░░ said this has been ░░░░░░░░ cleanest safest most secure ░░░░░░░░ in Florida history and ░░░░░░░░ this week he was ░░░░░░░░ about all the new ░░░░░░░░ of Florida legislature which ░░░░░░░░ change the way Florida ░░░░░░░░ elections so there you ░░░░░░░░ I I do start ░░░░░░░░ that not just to ░░░░░░░░ you what I said ░░░░░░░░ years ago it sounded ░░░░░░░░ I was impressions in ░░░░░░░░ way but because I ░░░░░░░░ supposed to speak for ░░░░░░░░ to 10 minutes about ░░░░░░░░ s going on in ░░░░░░░░ now and then things ░░░░░░░░ I m most enjoying ░░░░░░░░ questions um and I ░░░░░░░░ say the number one ░░░░░░░░ on these members of ░░░░░░░░ s mind is this ░░░░░░░░ question is the question ░░░░░░░░ whether we can sustain ░░░░░░░░ our democracy certainly it ░░░░░░░░ but certainly Democrats are ░░░░░░░░ with this and you ░░░░░░░░ that with a debate ░░░░░░░░ debate about the filibuster ░░░░░░░░ we should eliminate the ░░░░░░░░ in the Senate we ░░░░░░░░ nothing to do with ░░░░░░░░ whether the senator should ░░░░░░░░ the filibuster uh which ░░░░░░░░ for a 6 0 ░░░░░░░░ of past anything and ░░░░░░░░ pass two very significant ░░░░░░░░ of voter rights legislation ░░░░░░░░ reform legislation that would ░░░░░░░░ our opinion help to ░░░░░░░░ uh the integrity of ░░░░░░░░ that is probably the ░░░░░░░░ one topic that we ░░░░░░░░ discussing now we obviously ░░░░░░░░ discussing the president s ░░░░░░░░ last week the president ░░░░░░░░ his budget for uh ░░░░░░░░ next 10 years primarily ░░░░░░░░ the next year which ░░░░░░░░ is very relevant to ░░░░░░░░ job that s my ░░░░░░░░ but those things are ░░░░░░░░ of ongoing issues where ░░░░░░░░ do we make investments ░░░░░░░░ our country the president ░░░░░░░░ proposed major major investments ░░░░░░░░ our country and I ░░░░░░░░ argue that he s ░░░░░░░░ something very important he ░░░░░░░░ changed the order in ░░░░░░░░ we ask questions in ░░░░░░░░ and what I mean ░░░░░░░░ that is that for ░░░░░░░░ last four or five ░░░░░░░░ anyway maybe even longer ░░░░░░░░ ve asked this this ░░░░░░░░ first what can we ░░░░░░░░ to do for the ░░░░░░░░ people and then once ░░░░░░░░ what we can afford ░░░░░░░░ do we decide what ░░░░░░░░ do now we re ░░░░░░░░ a different question and ░░░░░░░░ is what do we ░░░░░░░░ to make America s ░░░░░░░░ sound what do we ░░░░░░░░ to do to serve ░░░░░░░░ American people once we ░░░░░░░░ that question and answer ░░░░░░░░ then we say all ░░░░░░░░ how do we resource ░░░░░░░░ how do we get ░░░░░░░░ resources to get that ░░░░░░░░ and that s an ░░░░░░░░ change in mentality that ░░░░░░░░ why you see these ░░░░░░░░ very significant proposals one ░░░░░░░░ American jobs plan which ░░░░░░░░ a combination of major ░░░░░░░░ and infrastructure what we ░░░░░░░░ conventionally think of infrastructure ░░░░░░░░ bridges water systems broadband ░░░░░░░░ ports and what the ░░░░░░░░ and I think many ░░░░░░░░ us feel is an ░░░░░░░░ concept of infrastructure and ░░░░░░░░ is what kind of ░░░░░░░░ changes we have to ░░░░░░░░ that will allow the ░░░░░░░░ people to have the ░░░░░░░░ opportunity to drive so ░░░░░░░░ we know that we ░░░░░░░░ a huge gap in ░░░░░░░░ of our seniors nursing ░░░░░░░░ to lack of a ░░░░░░░░ on health care and ░░░░░░░░ for many seniors the ░░░░░░░░ of resources to pay ░░░░░░░░ that if you are ░░░░░░░░ working person and you ░░░░░░░░ to care for an ░░░░░░░░ relative then that becomes ░░░░░░░░ of the infrastructure because ░░░░░░░░ allows you to go ░░░░░░░░ work the graduate family ░░░░░░░░ same thing with child ░░░░░░░░ that s part of ░░░░░░░░ American rescue plan which ░░░░░░░░ underneath the American family ░░░░░░░░ plan which is the ░░░░░░░░ piece of his agenda ░░░░░░░░ that deals with all ░░░░░░░░ kind of what we ░░░░░░░░ refer to as human ░░░░░░░░ so child care education ░░░░░░░░ things that again will ░░░░░░░░ the American people to ░░░░░░░░ a chance to realize ░░░░░░░░ full potential on the ░░░░░░░░ front and I brought ░░░░░░░░ up two years ago ░░░░░░░░ one of the things ░░░░░░░░ think we needed to ░░░░░░░░ on intensely now let ░░░░░░░░ go to childhood education ░░░░░░░░ under that the American ░░░░░░░░ plan every child would ░░░░░░░░ third at three to ░░░░░░░░ years old to get ░░░░░░░░ years of government finance ░░░░░░░░ a critically important thing ░░░░░░░░ our country to do ░░░░░░░░ my opinion uh virtually ░░░░░░░░ OECD country does it ░░░░░░░░ in Europe you start ░░░░░░░░ to school full time ░░░░░░░░ two and a half ░░░░░░░░ old we don t ░░░░░░░░ that we need to ░░░░░░░░ that kind of commitment ░░░░░░░░ so that s kind ░░░░░░░░ the the general statement ░░░░░░░░ what the president s ░░░░░░░░ what many of us ░░░░░░░░ support and the issue ░░░░░░░░ how do we resource ░░░░░░░░ things is probably the ░░░░░░░░ that is being debated ░░░░░░░░ right now the president ░░░░░░░░ proposed that uh in ░░░░░░░░ of the American jobs ░░░░░░░░ that we paid for ░░░░░░░░ raising the corporate tax ░░░░░░░░ from 21 to 28 ░░░░░░░░ if we do provide ░░░░░░░░ things in the corporate ░░░░░░░░ area Republicans have said ░░░░░░░░ s not started for ░░░░░░░░ they re not going ░░░░░░░░ accept that president um ░░░░░░░░ made an alternative proposal ░░░░░░░░ there d be a ░░░░░░░░ minimum corporate tax which ░░░░░░░░ keep companies like Amazon ░░░░░░░░ zero percent within current ░░░░░░░░ um so they are ░░░░░░░░ together to come up ░░░░░░░░ you know a mutually ░░░░░░░░ way to resource those ░░░░░░░░ on the American family ░░░░░░░░ plan the concept is ░░░░░░░░ taxes on the very ░░░░░░░░ Americans those making over ░░░░░░░░ hundred thousand dollars a ░░░░░░░░ make some alterations in ░░░░░░░░ estate tax and capital ░░░░░░░░ tax tax structure so ░░░░░░░░ personal opinion is that ░░░░░░░░ has no chance of ░░░░░░░░ those of you who ░░░░░░░░ worried about that sale ░░░░░░░░ I don t I ░░░░░░░░ don t think that ░░░░░░░░ s a lot of ░░░░░░░░ I mean I don ░░░░░░░░ think there s unanimity ░░░░░░░░ Democrats as to whether ░░░░░░░░ s an impossible thing ░░░░░░░░ do so the other ░░░░░░░░ comes if you can ░░░░░░░░ find the resources to ░░░░░░░░ it what do you ░░░░░░░░ and this is part ░░░░░░░░ a much longer topic ░░░░░░░░ I m not going ░░░░░░░░ discuss today this country ░░░░░░░░ we issue our own ░░░░░░░░ and because we borrow ░░░░░░░░ spend in our own ░░░░░░░░ we can pay for ░░░░░░░░ we want to pay ░░░░░░░░ we just tell the ░░░░░░░░ to pay the bills ░░░░░░░░ write the checks when ░░░░░░░░ bills come in and ░░░░░░░░ well what about the ░░░░░░░░ 28 trillion dollars uh ░░░░░░░░ you piling that on ░░░░░░░░ grandkids no we re ░░░░░░░░ we re not this ░░░░░░░░ standard I will say ░░░░░░░░ rhetoric and even some ░░░░░░░░ well we re putting ░░░░░░░░ on our kids credit ░░░░░░░░ we ve been accumulating ░░░░░░░░ in this country for ░░░░░░░░ years not one person ░░░░░░░░ ever been asked to ░░░░░░░░ for his or her ░░░░░░░░ s prophecy right never ░░░░░░░░ they were saying this ░░░░░░░░ m sure when The ░░░░░░░░ debt reached 1 billion ░░░░░░░░ under Abraham linc I ░░░░░░░░ they were saying it ░░░░░░░░ it reached a trillion ░░░░░░░░ under Ronald Reagan because ░░░░░░░░ was I heard all ░░░░░░░░ stuff back there so ░░░░░░░░ trillion dollars under Reagan ░░░░░░░░ s now 28 trillion ░░░░░░░░ anybody been asked to ░░░░░░░░ part of that no ░░░░░░░░ we don t have ░░░░░░░░ uh again we have ░░░░░░░░ sovereign currency we are ░░░░░░░░ like businesses we are ░░░░░░░░ like families we are ░░░░░░░░ like state governments we ░░░░░░░░ not like local governments ░░░░░░░░ don t have to ░░░░░░░░ our checkbook we are ░░░░░░░░ the banker and monopoly ░░░░░░░░ create the money we ░░░░░░░░ out the money everybody ░░░░░░░░ plays the game with ░░░░░░░░ we are one of ░░░░░░░░ about 10 countries in ░░░░░░░░ world who are positioned ░░░░░░░░ do it that way ░░░░░░░░ K is one United ░░░░░░░░ Canada Japan Brazil there ░░░░░░░░ a few but not ░░░░░░░░ many the European Union ░░░░░░░░ t because they should ░░░░░░░░ are and so um ░░░░░░░░ will give you one ░░░░░░░░ from sheriff s question ░░░░░░░░ s a book called ░░░░░░░░ deficit myth the deficit ░░░░░░░░ written by a woman ░░░░░░░░ Stephanie Kelton and it ░░░░░░░░ basically the best exposition ░░░░░░░░ explanation about what s ░░░░░░░░ modern monetary theory and ░░░░░░░░ monetary theory is exactly ░░░░░░░░ I just described when ░░░░░░░░ have someone currency you ░░░░░░░░ basically do whatever you ░░░░░░░░ spend whatever you want ░░░░░░░░ only constraint on your ░░░░░░░░ is you can t ░░░░░░░░ more money into the ░░░░░░░░ than the economy can ░░░░░░░░ so theoretically let s ░░░░░░░░ we wanted to give ░░░░░░░░ family a 200 000 ░░░░░░░░ to buy a house ░░░░░░░░ could do it you ░░░░░░░░ put out the money ░░░░░░░░ the money um what ░░░░░░░░ the problem with doing ░░░░░░░░ well what would happen ░░░░░░░░ some house obviously there ░░░░░░░░ have been a house ░░░░░░░░ will go through the ░░░░░░░░ and would make that ░░░░░░░░ pretty much worthless for ░░░░░░░░ lot of people so ░░░░░░░░ s the constraint but ░░░░░░░░ s happened is that ░░░░░░░░ the last 30 years ░░░░░░░░ know the Milton Friedman ░░░░░░░░ of economics which basically ░░░░░░░░ what we ve all ░░░░░░░░ living under that period ░░░░░░░░ 70 years if it ░░░░░░░░ proven to be not ░░░░░░░░ I mean we ve ░░░░░░░░ raised The National debt ░░░░░░░░ ve not had any ░░░░░░░░ inflation in the country ░░░░░░░░ have very low interest ░░░░░░░░ historically low interest rates ░░░░░░░░ terms of the federal ░░░░░░░░ s borrowing costs and ░░░░░░░░ the dollar has basically ░░░░░░░░ versus other currencies as ░░░░░░░░ s been historically um ░░░░░░░░ say oh well in ░░░░░░░░ president s budget if ░░░░░░░░ enacted debt to GDP ░░░░░░░░ be 117 it s ░░░░░░░░ highest it s ever ░░░░░░░░ in country s history ░░░░░░░░ that s true but ░░░░░░░░ has their debt to ░░░░░░░░ was 240 more than ░░░░░░░░ dollars they have zero ░░░░░░░░ rates on their bonds ░░░░░░░░ don t have any ░░░░░░░░ now they re not ░░░░░░░░ exact comparison they have ░░░░░░░░ own problems but the ░░░░░░░░ is that there are ░░░░░░░░ and more people more ░░░░░░░░ saying you know perhaps ░░░░░░░░ ve been looking at ░░░░░░░░ wrong issue of debt ░░░░░░░░ it means and one ░░░░░░░░ those people is Jay ░░░░░░░░ the chairman of the ░░░░░░░░ Reserve who is not ░░░░░░░░ liberal Democrat he is ░░░░░░░░ Republican appointee and there ░░░░░░░░ a lot of economists ░░░░░░░░ this now that we ░░░░░░░░ to start looking at ░░░░░░░░ differently because it uh ░░░░░░░░ over the last several ░░░░░░░░ so anyway that book ░░░░░░░░ deficit now if you ░░░░░░░░ to have it s ░░░░░░░░ great read it will ░░░░░░░░ guarantee you it will ░░░░░░░░ the way you thought ░░░░░░░░ money and uh may ░░░░░░░░ still think that relying ░░░░░░░░ mmt is a good ░░░░░░░░ and I was a ░░░░░░░░ skeptic when I started ░░░░░░░░ it but anyway I ░░░░░░░░ want to self create ░░░░░░░░ reading not exactly Music ░░░░░░░░ it s written very ░░░░░░░░ for a lay audience ░░░░░░░░ s not really for ░░░░░░░░ so anyway with that ░░░░░░░░ will say that s ░░░░░░░░ s going on in ░░░░░░░░ and it s going ░░░░░░░░ be an interesting uh ░░░░░░░░ year and a half ░░░░░░░░ uh I look forward ░░░░░░░░ being very much involved ░░░░░░░░ these major major issues ░░░░░░░░ let s have questions ░░░░░░░░ you d like to ░░░░░░░░ to the mic and ░░░░░░░░ your questions please state ░░░░░░░░ name your organization you ░░░░░░░░ he s talking to ░░░░░░░░ ask your questions thanks ░░░░░░░░ being with us today ░░░░░░░░ have a tax question ░░░░░░░░ to the sales and ░░░░░░░░ tax exemption and every ░░░░░░░░ The Wall Street Journal ░░░░░░░░ the large section called ░░░░░░░░ and it has a ░░░░░░░░ fund and Hollywood types ░░░░░░░░ are happy to show ░░░░░░░░ their 50 60 70 ░░░░░░░░ million dollar houses and ░░░░░░░░ assume these are the ░░░░░░░░ that are lobbying to ░░░░░░░░ the salt tax tell ░░░░░░░░ what your thoughts are ░░░░░░░░ well I was not ░░░░░░░░ supportive of the move ░░░░░░░░ change the Music a ░░░░░░░░ um because it affected ░░░░░░░░ lot of protections as ░░░░░░░░ yeah uh income tax ░░░░░░░░ but it became uh ░░░░░░░░ became partisan to a ░░░░░░░░ extent because Republicans were ░░░░░░░░ in charge of the ░░░░░░░░ and the White House ░░░░░░░░ part of the 2017 ░░░░░░░░ package it said this ░░░░░░░░ a way to get ░░░░░░░░ blue sticks so this ░░░░░░░░ the way to get ░░░░░░░░ New York New Jersey ░░░░░░░░ states with with um ░░░░░░░░ high tax rates property ░░░░░░░░ and otherwise and their ░░░░░░░░ argument was and it ░░░░░░░░ not a totally bonus ░░░░░░░░ I mean it s ░░░░░░░░ real argument those he ░░░░░░░░ those states have chosen ░░░░░░░░ give more services to ░░░░░░░░ citizens therefore they have ░░░░░░░░ taxes so should the ░░░░░░░░ of the country subsidize ░░░░░░░░ not out into their ░░░░░░░░ the response of course ░░░░░░░░ why should you be ░░░░░░░░ we want to do ░░░░░░░░ for your citizens if ░░░░░░░░ want your taxes but ░░░░░░░░ don t think there ░░░░░░░░ a right or wrong ░░░░░░░░ I I do believe ░░░░░░░░ there is even though ░░░░░░░░ have been a couple ░░░░░░░░ Democrats who have said ░░░░░░░░ re not going to ░░░░░░░░ very bill that doesn ░░░░░░░░ restore the full assault ░░░░░░░░ um I still I ░░░░░░░░ t think that s ░░░░░░░░ to happen anyway so ░░░░░░░░ I don t think ░░░░░░░░ s going to be ░░░░░░░░ change because there was ░░░░░░░░ Republican I don t ░░░░░░░░ there s a Republican ░░░░░░░░ will vote to change ░░░░░░░░ to revert to the ░░░░░░░░ 2017 situation and get ░░░░░░░░ lot of Democrats thank ░░░░░░░░ welcome back thank you ░░░░░░░░ you mentioned in your ░░░░░░░░ comments we were here ░░░░░░░░ years ago you were ░░░░░░░░ with the the greatest ░░░░░░░░ to national security I ░░░░░░░░ your speech and you ░░░░░░░░ that white supremacy was ░░░░░░░░ biggest threat and I ░░░░░░░░ President Biden mentioned it ░░░░░░░░ just the day before ░░░░░░░░ saying white supremacy is ░░░░░░░░ biggest threat and you ░░░░░░░░ an eight term congressman ░░░░░░░░ know you could classify ░░░░░░░░ and you know your ░░░░░░░░ I m curious what ░░░░░░░░ of your district is ░░░░░░░░ supremacy well first of ░░░░░░░░ I ve never gotten ░░░░░░░░ classified information on that ░░░░░░░░ don t get very ░░░░░░░░ for us about information ░░░░░░░░ most most of the ░░░░░░░░ are that information we ░░░░░░░░ whether it s regardless ░░░░░░░░ the subject the stuff ░░░░░░░░ you read in the ░░░░░░░░ the next day I ░░░░░░░░ just classifying so but ░░░░░░░░ don t I mean ░░░░░░░░ m not going to ░░░░░░░░ a standard because it ░░░░░░░░ be a totally ridiculous ░░░░░░░░ yeah I do think ░░░░░░░░ clearly white supremacy is ░░░░░░░░ problem in the country ░░░░░░░░ and a lot of ░░░░░░░░ s over white supremacy ░░░░░░░░ lot of it s ░░░░░░░░ quiet like supremacy and ░░░░░░░░ think the important thing ░░░░░░░░ talk about and I ░░░░░░░░ I was preparing a ░░░░░░░░ speech in that race ░░░░░░░░ well five or 10 ░░░░░░░░ about what s going ░░░░░░░░ in Washington deliver that ░░░░░░░░ some other time I ░░░░░░░░ what we have to ░░░░░░░░ is yes there s ░░░░░░░░ racism in the country ░░░░░░░░ mean all you have ░░░░░░░░ do is just see ░░░░░░░░ of these reports right ░░░░░░░░ where a black person ░░░░░░░░ owns a house gets ░░░░░░░░ appraised disappraised 150 000 ░░░░░░░░ white person goes through ░░░░░░░░ appraisal process with offering ░░░░░░░░ or herself as the ░░░░░░░░ and it s appraised ░░░░░░░░ a hundred thousand dollars ░░░░░░░░ I mean that s ░░░░░░░░ one example of how ░░░░░░░░ how much weight how ░░░░░░░░ systemic racism there is ░░░░░░░░ the country I think ░░░░░░░░ I think we have ░░░░░░░░ remember you know we ░░░░░░░░ have an hour s ░░░░░░░░ discussion on this I ░░░░░░░░ to Yale I was ░░░░░░░░ lucky to go here ░░░░░░░░ was years ago I ░░░░░░░░ a peaceful leo about ░░░░░░░░ History Month defending black ░░░░░░░░ and I said in ░░░░░░░░ that I went back ░░░░░░░░ my freshman yearbook and ░░░░░░░░ re a thousand guys ░░░░░░░░ they were all mailed ░░░░░░░░ and to the extent ░░░░░░░░ I could tell I ░░░░░░░░ I thought we had ░░░░░░░░ pretty good group of ░░░░░░░░ students because two of ░░░░░░░░ were my fraternity brothers ░░░░░░░░ one of those good ░░░░░░░░ of mine and so ░░░░░░░░ was around black students ░░░░░░░░ lot and then I ░░░░░░░░ in the yearbook and ░░░░░░░░ realized this to the ░░░░░░░░ you can tell from ░░░░░░░░ there were 10 in ░░░░░░░░ class of the thousand ░░░░░░░░ one of them was ░░░░░░░░ hill the old American ░░░░░░░░ player and a couple ░░░░░░░░ the other ones were ░░░░░░░░ as well um but ░░░░░░░░ stunned me and then ░░░░░░░░ did something really crazy ░░░░░░░░ went and pulled out ░░░░░░░░ it was amazing still ░░░░░░░░ my college u s ░░░░░░░░ survey book the first ░░░░░░░░ book survey on us ░░░░░░░░ it was written in ░░░░░░░░ it was the authors ░░░░░░░░ the authors were artists ░░░░░░░░ Bruce cat and Steven ░░░░░░░░ having some of the ░░░░░░░░ saved historians of the ░░░░░░░░ look through the book ░░░░░░░░ the index there was ░░░░░░░░ black person mentioned by ░░░░░░░░ in the entire 800 ░░░░░░░░ entire history of the ░░░░░░░░ up into that booker ░░░░░░░░ Washington there s no ░░░░░░░░ of truth no Frederick ░░░░░░░░ no jackie Robinson Anderson ░░░░░░░░ mean it was mind ░░░░░░░░ so you think about ░░░░░░░░ accumulated effect over generations ░░░░░░░░ that kind of um ░░░░░░░░ word s been used ░░░░░░░░ much in the last ░░░░░░░░ days whitewash in American ░░░░░░░░ and now a reaction ░░░░░░░░ the 1619 Project uh ░░░░░░░░ the first ladies report ░░░░░░░░ America the reaction to ░░░░░░░░ Critical Race Theory being ░░░░░░░░ schools you just have ░░░░░░░░ say yeah that s ░░░░░░░░ of the country and ░░░░░░░░ people get very defensive ░░░░░░░░ about being having it ░░░░░░░░ that they may be ░░░░░░░░ and uh there was ░░░░░░░░ incredible column yesterday in ░░░░░░░░ Post by a woman ░░░░░░░░ Robert and she talks ░░░░░░░░ the importance of guilt ░░░░░░░░ of dealing with guilt ░░░░░░░░ I recommend everybody so ░░░░░░░░ know it s a ░░░░░░░░ answer to an important ░░░░░░░░ um yes there s ░░░░░░░░ supremacy in in little ░░░░░░░░ Kentucky do I think ░░░░░░░░ that it s a ░░░░░░░░ percentage of white supremacists ░░░░░░░░ are out there in ░░░░░░░░ streets um as we ░░░░░░░░ ve seen in other ░░░░░░░░ no I don t ░░░░░░░░ there are a lot ░░░░░░░░ people like that but ░░░░░░░░ think there are a ░░░░░░░░ of people who have ░░░░░░░░ because they aren t ░░░░░░░░ because again they are ░░░░░░░░ that they just don ░░░░░░░░ want to take the ░░░░░░░░ to think about how ░░░░░░░░ affect your systemic racism ░░░░░░░░ also to learn about ░░░░░░░░ American districts we have ░░░░░░░░ last year a child ░░░░░░░░ born and it was ░░░░░░░░ time a majority of ░░░░░░░░ in the country are ░░░░░░░░ marked so and that ░░░░░░░░ a trend that s ░░░░░░░░ to continue so if ░░░░░░░░ think that if we ░░░░░░░░ go on as a ░░░░░░░░ and more importantly as ░░░░░░░░ society a collection of ░░░░░░░░ who are supposed to ░░░░░░░░ and get things done ░░░░░░░░ and we don t ░░░░░░░░ the backgrounds of all ░░░░░░░░ people who are living ░░░░░░░░ us then you re ░░░░░░░░ giving our society the ░░░░░░░░ chance of being the ░░░░░░░░ of place I think ░░░░░░░░ all would want to ░░░░░░░░ one at a place ░░░░░░░░ of place that we ░░░░░░░░ always thought of ourselves ░░░░░░░░ congressman Music the president ░░░░░░░░ is putting forth a ░░░░░░░░ effort to repair and ░░░░░░░░ deteriorated infrastructure one issue ░░░░░░░░ Kentucky that has been ░░░░░░░░ supported by our former ░░░░░░░░ and many congressmen is ░░░░░░░░ replacement of the France ░░░░░░░░ bridge in cincinnati um ░░░░░░░░ you put language in ░░░░░░░░ funding for any bills ░░░░░░░░ are some of us ░░░░░░░░ are actually talking about ░░░░░░░░ that gun I ve ░░░░░░░░ conversations with the chairman ░░░░░░░░ the transportation and infrastructure ░░░░░░░░ Peter fascio about that ░░░░░░░░ the president s rescue ░░░░░░░░ I m not going ░░░░░░░░ keep going that s ░░░░░░░░ my name s on ░░░░░░░░ but on the American ░░░░░░░░ plan one that deals ░░░░░░░░ infrastructure there is a ░░░░░░░░ billion dollar fund for ░░░░░░░░ are called critical regional ░░░░░░░░ systems um several of ░░░░░░░░ lists that I ve ░░░░░░░░ it s for the ░░░░░░░░ most critical so on ░░░░░░░░ to add a billion ░░░░░░░░ for that on most ░░░░░░░░ the lists I ve ░░░░░░░░ France fences number two ░░░░░░░░ critical projects so presumably ░░░░░░░░ would pass and implemented ░░░░░░░░ advancements bridge would get ░░░░░░░░ and get done because ░░░░░░░░ think the estimates are ░░░░░░░░ two billion dollars to ░░░░░░░░ so I m optimistic ░░░░░░░░ probably can t get ░░░░░░░░ in the bill itself ░░░░░░░░ the legislative language what ░░░░░░░░ re trying to do ░░░░░░░░ get language enough important ░░░░░░░░ bias the designation without ░░░░░░░░ I don t think ░░░░░░░░ could get that password ░░░░░░░░ identified mandatory study on ░░░░░░░░ different projects because there ░░░░░░░░ be a lot of ░░░░░░░░ that would take off ░░░░░░░░ understanding then my name ░░░░░░░░ roland yeah I was ░░░░░░░░ in light of these ░░░░░░░░ bills with keys after ░░░░░░░░ that were passing uh ░░░░░░░░ both the bodies that ░░░░░░░░ what s going to ░░░░░░░░ to our economy and ░░░░░░░░ they will return to ░░░░░░░░ percent award growth rate ░░░░░░░░ two years how can ░░░░░░░░ spend all this money ░░░░░░░░ have the stimulus of ░░░░░░░░ right now um well ░░░░░░░░ of all the way ░░░░░░░░ the president s proposal ░░░░░░░░ been made spending on ░░░░░░░░ projects would be over ░░░░░░░░ years the revenue generated ░░░░░░░░ changes in the corporate ░░░░░░░░ rate would occur over ░░░░░░░░ So the administration says ░░░░░░░░ you know 2 3 ░░░░░░░░ is what the president ░░░░░░░░ did 2 3 trillion ░░░░░░░░ in one year which ░░░░░░░░ couldn t do on ░░░░░░░░ infrastructure because projects take ░░░░░░░░ lot off of that ░░░░░░░░ if you could that ░░░░░░░░ probably be dangerous in ░░░░░░░░ of inflationary impact but ░░░░░░░░ spent over eight years ░░░░░░░░ here s so last ░░░░░░░░ the president puts out ░░░░░░░░ budget and the headline ░░░░░░░░ six trillion dollar budget ░░░░░░░░ that s a big ░░░░░░░░ a lot bigger than ░░░░░░░░ ve never had without ░░░░░░░░ president s proposal it ░░░░░░░░ have been 5 7 ░░░░░░░░ s not something he ░░░░░░░░ mentioned in much of ░░░░░░░░ coverage so and that ░░░░░░░░ a reflection of the ░░░░░░░░ that this money is ░░░░░░░░ spent gradually wouldn t ░░░░░░░░ spent gradually well because ░░░░░░░░ you re gonna have ░░░░░░░░ ll have a significant ░░░░░░░░ right now we re ░░░░░░░░ from a fairly low ░░░░░░░░ so the percentages of ░░░░░░░░ in economic high economic ░░░░░░░░ right now are pretty ░░░░░░░░ because we were way ░░░░░░░░ right during the pandemic ░░░░░░░░ instead of starting with ░░░░░░░░ bait just hypothetically instead ░░░░░░░░ starting with a base ░░░░░░░░ 20 trillion dollars in ░░░░░░░░ we were starting with ░░░░░░░░ base of 15 trips ░░░░░░░░ if you get a ░░░░░░░░ you get a trillion ░░░░░░░░ in growth recovery can ░░░░░░░░ a pandemic you ve ░░░░░░░░ six percent increase it ░░░░░░░░ pretty good but when ░░░░░░░░ as you recover to ░░░░░░░░ normal level and the ░░░░░░░░ growth by just not ░░░░░░░░ it s going to ░░░░░░░░ small back to your ░░░░░░░░ earlier about sort of ░░░░░░░░ it kind of really ░░░░░░░░ t matter and you ░░░░░░░░ that the United States ░░░░░░░░ one of 10 sovereign ░░░░░░░░ just get away with ░░░░░░░░ when did we achieve ░░░░░░░░ status like I m ░░░░░░░░ that s not way ░░░░░░░░ when did we achieve ░░░░░░░░ status and it s ░░░░░░░░ kind of hard to ░░░░░░░░ that such a thing ░░░░░░░░ and I would ask ░░░░░░░░ second part of the ░░░░░░░░ what if what if ░░░░░░░░ theory is wrong okay ░░░░░░░░ the consequence of that ░░░░░░░░ s the first question ░░░░░░░░ s the first and ░░░░░░░░ you for that well ░░░░░░░░ of all it happened ░░░░░░░░ we went on so ░░░░░░░░ the currency was no ░░░░░░░░ tied to the uh ░░░░░░░░ of gold then we ░░░░░░░░ at any became time ░░░░░░░░ that s the first ░░░░░░░░ I asked for the ░░░░░░░░ time I heard about ░░░░░░░░ I said it sounds ░░░░░░░░ a great theory that ░░░░░░░░ very appealing until it ░░░░░░░░ t work and so ░░░░░░░░ question of until it ░░░░░░░░ t work I have ░░░░░░░░ discussed with Stephanie Kelton ░░░░░░░░ others and at that ░░░░░░░░ you two things have ░░░░░░░░ happen either essentially you ░░░░░░░░ have to have a ░░░░░░░░ recession so either the ░░░░░░░░ would raise interest rates ░░░░░░░░ discourage an economic and ░░░░░░░░ an economic activity or ░░░░░░░░ would raise taxes to ░░░░░░░░ very high level pull ░░░░░░░░ out of the car ░░░░░░░░ s what you would ░░░░░░░░ if it got to ░░░░░░░░ point where you had ░░░░░░░░ untamed inflection those are ░░░░░░░░ two exercises that s ░░░░░░░░ only outside and I ░░░░░░░░ ask this question so ░░░░░░░░ it does the accumulated ░░░░░░░░ have anything to do ░░░░░░░░ the propensity of a ░░░░░░░░ dollar being spent to ░░░░░░░░ inflation in other words ░░░░░░░░ your debt is 10 ░░░░░░░░ dollars or 20 trillion ░░░░░░░░ or fifty trillion dollars ░░░░░░░░ that make any difference ░░░░░░░░ how likely the next ░░░░░░░░ spent is to cause ░░░░░░░░ and the answer is ░░░░░░░░ water spent interestingly enough ░░░░░░░░ cbo the conventional budget ░░░░░░░░ which makes those all ░░░░░░░░ 10 year forecasts so ░░░░░░░░ uh the carrying uh ░░░░░░░░ cost of The National ░░░░░░░░ is not going to ░░░░░░░░ significantly over the next ░░░░░░░░ years because the interest ░░░░░░░░ are set up secondly ░░░░░░░░ choose to pay interest ░░░░░░░░ the money that we ░░░░░░░░ we don t have ░░░░░░░░ do that in other ░░░░░░░░ China owns a trillion ░░░░░░░░ worth of our debt ░░░░░░░░ can say to China ░░░░░░░░ um okay China you ░░░░░░░░ a trillion dollars here ░░░░░░░░ an account for you ░░░░░░░░ with it what you ░░░░░░░░ but you re no ░░░░░░░░ going to get one ░░░░░░░░ of whatever on those ░░░░░░░░ um we have the ░░░░░░░░ to do that at ░░░░░░░░ time so we can ░░░░░░░░ off our national debt ░░░░░░░░ for the stroke stroke ░░░░░░░░ because people would still ░░░░░░░░ to trust the United ░░░░░░░░ government with their money ░░░░░░░░ safety reasons and that ░░░░░░░░ why you had negative ░░░░░░░░ rates in the EU ░░░░░░░░ one point um last ░░░░░░░░ years people didn t ░░░░░░░░ any risk for the ░░░░░░░░ that was enough so ░░░░░░░░ basically in Europe they ░░░░░░░░ the European center right ░░░░░░░░ hold their money so ░░░░░░░░ choose to do that ░░░░░░░░ a variety of reasons ░░░░░░░░ I won t go ░░░░░░░░ read the book explain ░░░░░░░░ Music don t think ░░░░░░░░ 28 trillion dollars as ░░░░░░░░ think of 28 trillion ░░░░░░░░ as the total amount ░░░░░░░░ the United States government ░░░░░░░░ invested in its people ░░░░░░░░ history minus taxes because ░░░░░░░░ trillion dollars that debt ░░░░░░░░ created that money right ░░░░░░░░ we sell treasuries at ░░░░░░░░ treasury auction the treasury ░░░░░░░░ t exist yesterday that ░░░░░░░░ dealt that billion dollars ░░░░░░░░ treasury didn t exist ░░░░░░░░ Fed just says here ░░░░░░░░ wants to give us ░░░░░░░░ and here s the ░░░░░░░░ we just created yesterday ░░░░░░░░ now we haven t ░░░░░░░░ known so again I ░░░░░░░░ so much from reading ░░░░░░░░ this stuff and stuff ░░░░░░░░ people don t think ░░░░░░░░ and relying on ole ░░░░░░░░ congressman I need for ░░░░░░░░ in my loan officer ░░░░░░░░ I said before as ░░░░░░░░ said before this dynamic ░░░░░░░░ not exist for anybody ░░░░░░░░ again it exists for ░░░░░░░░ families businesses banks um ░░░░░░░░ governments local governments it ░░░░░░░░ t exist for anybody ░░░░░░░░ who uses dollars I ░░░░░░░░ yeah I appreciate that ░░░░░░░░ can stay away from ░░░░░░░░ I have a more ░░░░░░░░ question actually something that ░░░░░░░░ t make you lose ░░░░░░░░ anymore is what s ░░░░░░░░ on in Iraq and ░░░░░░░░ I pay attention to ░░░░░░░░ because I just signed ░░░░░░░░ over there it s ░░░░░░░░ mess and so my ░░░░░░░░ to you is when ░░░░░░░░ how to get back ░░░░░░░░ of there it s ░░░░░░░░ it s a great ░░░░░░░░ and I wish I ░░░░░░░░ an answer for you ░░░░░░░░ had not been briefed ░░░░░░░░ already or in any ░░░░░░░░ bases as to what ░░░░░░░░ administration s strategy is ░░░░░░░░ Iraq and we we ░░░░░░░░ got a phenomenal I ░░░░░░░░ um national foreign affairs ░░░░░░░░ now in place people ░░░░░░░░ are all very experienced ░░░░░░░░ what they re doing ░░░░░░░░ I know that there ░░░░░░░░ I had to guess ░░░░░░░░ would guess is if ░░░░░░░░ can get back to ░░░░░░░░ Iranian video and stabilize ░░░░░░░░ situation then they will ░░░░░░░░ that as a as ░░░░░░░░ key to our getting ░░░░░░░░ of the market I ░░░░░░░░ sure that god wants ░░░░░░░░ congressman um I almost ░░░░░░░░ this out earlier you ░░░░░░░░ a question about white ░░░░░░░░ and racism earlier and ░░░░░░░░ just wanted to say ░░░░░░░░ you for taking the ░░░░░░░░ to expand on that ░░░░░░░░ answer that for this ░░░░░░░░ thank you congressman thank ░░░░░░░░ so much for being ░░░░░░░░ um I have a ░░░░░░░░ concerning your view of ░░░░░░░░ q anon folks and ░░░░░░░░ use that broadly to ░░░░░░░░ not just them but ░░░░░░░░ whole kind of alt ░░░░░░░░ if you will in ░░░░░░░░ the further belief among ░░░░░░░░ lot of people according ░░░░░░░░ polls in which you ░░░░░░░░ that the election was ░░░░░░░░ last November and my ░░░░░░░░ to you is what ░░░░░░░░ your take on what ░░░░░░░░ those folks what exactly ░░░░░░░░ a nation should we ░░░░░░░░ doing about that because ░░░░░░░░ my view people are ░░░░░░░░ in a fantasy land ░░░░░░░░ there may be people ░░░░░░░░ in the disagree with ░░░░░░░░ but they re living ░░░░░░░░ a fantasy land they ░░░░░░░░ not attached to reality ░░░░░░░░ that s what s ░░░░░░░░ concerning yeah thanks for ░░░░░░░░ that up um you ░░░░░░░░ to be here till ░░░░░░░░ 30 Um just this ░░░░░░░░ over 70 percent of ░░░░░░░░ uh believe the election ░░░░░░░░ stolen um more alarming ░░░░░░░░ that 45 of a ░░░░░░░░ voter voters said that ░░░░░░░░ might be necessary to ░░░░░░░░ force to save our ░░░░░░░░ essentially and then you ░░░░░░░░ Michael Flynn former national ░░░░░░░░ advisor basically saying that ░░░░░░░░ should have a military ░░░░░░░░ like me at home ░░░░░░░░ if you had to ░░░░░░░░ me if I had ░░░░░░░░ guess I believe man ░░░░░░░░ ve got to deal ░░░░░░░░ a few of these ░░░░░░░░ who are in the ░░░░░░░░ that s not easy ░░░░░░░░ I think that there ░░░░░░░░ a certain segment of ░░░░░░░░ public that has decided ░░░░░░░░ their political prospects are ░░░░░░░░ if the country s ░░░░░░░░ than the original and ░░░░░░░░ strategy is to keep ░░░░░░░░ country divided and some ░░░░░░░░ in it I think ░░░░░░░░ in it for kicks ░░░░░░░░ for money but it ░░░░░░░░ a very very cynical ░░░░░░░░ to being a citizen ░░░░░░░░ yeah I think you ░░░░░░░░ so many different people ░░░░░░░░ quickly Matt gates I ░░░░░░░░ uh I ve had ░░░░░░░░ with mandates man gates ░░░░░░░░ the thing that s ░░░░░░░░ story of that about ░░░░░░░░ gates is he s ░░░░░░░░ fraud he doesn t ░░░░░░░░ any of the things ░░░░░░░░ says he s actually ░░░░░░░░ really nice humble guy ░░░░░░░░ you can believe that ░░░░░░░░ m not talking about ░░░░░░░░ I was 17 year ░░░░░░░░ just in terms of ░░░░░░░░ stuff that he and ░░░░░░░░ Taylor are saying that ░░░░░░░░ out and call Democrats ░░░░░░░░ traders and so forth ░░░░░░░░ you know this is ░░░░░░░░ is marker Taylor green ░░░░░░░░ three million dollars in ░░░░░░░░ first floor for fundraising ░░░░░░░░ than most every other ░░░░░░░░ of Congress so there ░░░░░░░░ money in it there ░░░░░░░░ um again there s ░░░░░░░░ s a political calculation ░░░░░░░░ as well and on ░░░░░░░░ media side there s ░░░░░░░░ money all that stuff ░░░░░░░░ Debra Carlson is a ░░░░░░░░ for the country but ░░░░░░░░ of those things feed ░░░░░░░░ each other and bolster ░░░░░░░░ other and that to ░░░░░░░░ is the biggest tragedy ░░░░░░░░ the Trump years is ░░░░░░░░ he basically gave people ░░░░░░░░ to be very very ░░░░░░░░ with their prejudices and ░░░░░░░░ their insanity well thank ░░░░░░░░ especially glad that we ░░░░░░░░ be together in person ░░░░░░░░ us so thanks for ░░░░░░░░ us off and in ░░░░░░░░ we want to say ░░░░░░░░ birthday to the rotarians ░░░░░░░░ have birthdays this week ░░░░░░░░ names are all in ░░░░░░░░ and the district conference ░░░░░░░░ happening this Saturday it ░░░░░░░░ not too late to ░░░░░░░░ if you re interested ░░░░░░░░ s a link in ░░░░░░░░ where you can register ░░░░░░░░ lend a list of ░░░░░░░░ we can help you ░░░░░░░░ that and it s ░░░░░░░░ reminder next week will ░░░░░░░░ a zoom only meeting ░░░░░░░░ um unfortunately churchill down ░░░░░░░░ bill carnegie is not ░░░░░░░░ to be with us ░░░░░░░░ person we ve got ░░░░░░░░ stellar member joining us ░░░░░░░░ Ben who s the ░░░░░░░░ president of communications for ░░░░░░░░ downs inc will be ░░░░░░░░ us so um we ░░░░░░░░ you can join us ░░░░░░░░ via zoom and I ░░░░░░░░ want to give a ░░░░░░░░ shout out to all ░░░░░░░░ folks that are with ░░░░░░░░ today rotarians that are ░░░░░░░░ we have 30 people ░░░░░░░░ this meeting with us ░░░░░░░░ as well so I ░░░░░░░░ want to say again ░░░░░░░░ wonderful it is to ░░░░░░░░ you in person I ░░░░░░░░ all your wonderful support ░░░░░░░░ all you do in ░░░░░░░░ name of rotary we ░░░░░░░░ adjourned