Right now, the bill that just passed through the Senate, also a stimulus package update and some shocking information on Medicaid, all of that, plus more in this topic. So let’s get into it right away. But if you haven’t done so yet, or if you happen to be new here, make sure to subscribe to our website so I can keep you updated each and every day with all of this information that is changing very rapidly right now. It is very busy out there right now with everything going on.
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All right. So just minutes ago, the Senate held a procedural vote to pass through a bill that will allow Chuck Schumer to bring a bill to the floor to raise the debt ceiling on a partisan basis to avoid the filibuster. Now, this is actually a really good thing, because we’ve been talking about this debt ceiling issue for a couple of months now, and realistically, next week was going to be a very big week when it comes to the debt ceiling because according to the Treasury Secretary, the treasury was going to be running out of money and no longer to pay the bills and obligations of the federal government.
So we’ve been looking at this situation for a while now wondering, is Congress going to do something now, this is going to be a relatively big issue because if they were able to run out of money and not pay the obligations, the country technically would have defaulted. And that would have been a severe situation for literally every single American.
So it would have not been a very good situation, however, what they just passed through the Senate here in this procedural vote is setting up the situation where Chuck Schumer can actually bring a bill to the floor that will have only Democratic support and avoid the filibuster. In other words, it only needs 50 votes with all the Democrats in the Senate, plus the tie-breaking vote from the vice president. Just like what we see with the reconciliation bills, right? They only need 50 votes from all the Democrats or 50 votes, and then the one tiebreaking vote from the vice president.
So that’s why this is such a big deal.
Now, this vote actually just passed through the Senate with a vote of 64 over 36. So as you can see, it only needed 60 votes to get passed through this procedural vote. And now it moves on to the main one. Right. So the final draft of the bill should be either passed later today or sometime tomorrow, and then this should be signed by the President, and it should be a done deal.
However, that does not actually raise the debt ceiling. This basically gives Chuck Schumer the ability to bring the bill to the floor with just the 50 vote. That is what is needed. So now this is anticipated to actually be passing next week. So Chuck Schumer will likely bring that next week to the floor.
So I know a lot of voting, right. A lot of bills, a lot of voting. But either way, this is what we’ve been waiting for because leading up to up to this agreement between Chuck Schumer and Mitch McConnell, we didn’t really know if they would actually come up with an agreement hang. However, they got the agreement and they got the permissions through this vote right here to actually get it done. So it’s all been pretty much up in the air here over the last few days.
Well, realistically, the last few months, it’s been a kind of a big deal. We’ve been watching this. So kind of nice to see that they’re finally working together a little bit, even though they all despise each other pretty much is basically what it comes down to. Essentially how much they argue with everything going on. But anyway, they’re finally working together a little bit.
Also, quick side Note a huge thank you to all of you for leaving the really nice comments on that last video from earlier today. As I mentioned in that video, I see these comments and these questions every single day and I wanted to bring it back in that short video there and just let you know what is actually going on with everything. And I’ve been seeing all of your comments, and I really do appreciate all the very nice comments. I hope that that video was able to clear things up.
And according to the comments I’ve been reading, it looks like that was a very helpful topic.
So again, thank you so much for all the nice comments. That’s really nice of you. If you haven’t seen that video, I would highly recommend going back and watching it. I answered quite a few really good questions on that topic. A lot of the really commonly asked questions that I see down in the comments section.
Let’s quickly talk about the stimulus package because this is good. Now, Chuck Schumer is anticipated to bring the reconciliation bill to the floor probably sometime next week because once again, as always, what they’ve been working on here with the debt ceiling and the NDAA and the stopgap bill and all of this stuff going on here, it’s all been pretty much delayed throughout the course of this entire week. Therefore, Chuck Schumer will likely be bringing the stimulus package and the reconciliation bill to the floor probably next week.
Now, it was supposed to be hitting potentially even this week. But because of all the delays in how slow this whole process has been a huge shock, right? No. But because of all this, it’s likely he’ll be bringing it to the floor right away next week, as far as the stimulus package and the reconciliation bill, which will finally be nice as they wrap up all of the final talks and negotiations with the Senate parliamentarian this week. So finally, they’ll be finally bringing the stimulus package to the floor in the Senate, and opening this thing up for debate here over the coming days is basically what it is sounding like.
And it looks like they may actually be working over the weekend based on the dear colleague’s letter and what Chuck Schumer has been saying from the Senate floor throughout the days of this week so far as well. So it’s about time, right. We’ve been waiting and waiting and waiting, and it’s about time they finally bring it to the floor, open this thing up for debate, and possibly start moving forward with it. We’ve been waiting for this for so long. It’s just at what point are they finally going to do it?
Right? We’re kind of sick of waiting. All right. Anyway. So that’s what we have for the stimulus package update as of right here, right now today.
So far. But don’t worry, more will be coming. I can assure you of that. Let’s quickly talk about some interesting information on Medicaid. Now, here’s what’s interesting.
I think a lot of you in this community recognize Medicaid, and you probably understand that Medicaid is a service that is available for low income. Right? Or you would think so. Anyway, check this out. I found a report, actually, to be honest with you, I found this report last night.
I was going to talk about it yesterday, but I had a bunch of other things I wanted to cover instead. So I kind of put this on the back burner until right now. But a report out of New York is finding that one-third of the population of New York, New York, millions of people. Right. So one-third of the people in New York actually have Medicaid, like, not Medicare.
But Medicaid. Medicaid is this service that is for the lowest of income people, right? People who are very low income, a lot of times, people living in poverty, things like this. So Medicaid is available for them. However, this report is showing that one-third of the population in New York is enrolled in Medicaid.
Not only that half of the people out of that one-third of the population of New York, but half of the people that are drawing on Medicaid in New York are also actually above the poverty line. So kind of interesting because I think all of us here recognize that wait. I thought Medicaid was for people who are very low income and mostly below the poverty line. Well, yeah, you would think so, too. But here’s what’s interesting.
This report went on to say that Medicaid is now going into pretty much being like a middle class and lower program. So even people living in the middle class are now drawing on Medicaid. Does this make any sense? What about the programs that were set up for low income and people living in poverty? Well, apparently, according to this, that’s not really the case anymore.
So wow. Yeah. Just kind of like we could probably point back at this anti-poverty package, remember that? Oh, yeah. Well, that was kind of a thing in the past because this anti-poverty package has kind of transformed into something that’s no longer so much an anti-poverty package.
But we can always talk about that again in future topics. But anyway, I thought that was really interesting about Medicaid. I never would have guessed that one-third of the population in New York would be drawing on Medicaid. And remember, this is just one state alone just in that one state we’re talking about millions of people. Right.
So anyway, interesting how it’s kind of transitioning into people who have a little bit higher incomes when this program was originally set up for the lowest of the low-income people out there, the people who are struggling the absolute most. That’s what Medicaid was set up for. But now it doesn’t appear to be that way so much anymore. Right. So anyway, let’s quickly talk about the job report or not, the job report, but the initial jobless claims that were released earlier this morning.
Now, this number is released every Thursday morning, and it gives us a read on how many people applied for unemployment benefits last week. So here’s what it came in. At last week alone, 186,000 people applied for unemployment benefits last week alone. Now, these are new claims, not recurring claims, but brand new people applying for unemployment benefits. So this actually happens to be a very low reading, the lowest in multiple decades.