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Automatic Stimulus Checks and Enhanced Unemployment: Monthly Stimulus Update + 4th Stimulus Check - YouTube
Channel: The TEC Show
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automatic stabilizers so we're going to talk聽
about this this is something i just saw newsweek聽聽
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yesterday and i thought it was pretty interesting聽
because now we have a group that is talking about聽聽
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these automatic stabilizers and we've talked聽
about automatic stabilizers before on this show聽聽
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uh last year they were bringing up politicians聽
were bringing up this automatic stabilizers this聽聽
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is how we could uh provide stimulus checks or聽
provide enhanced unemployment to the american聽聽
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people and so that's what we're going to talk聽
about today but first off you guys can do me a聽聽
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favor please hit the like button that does help聽
with the youtube algorithm also please subscribe聽聽
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to the channel hit that little bell notification聽
that way you'll get notified any time we put out聽聽
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a video okay so let's take a look at this聽
newsweek article here and the the headline is聽聽
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automatic stimulus checks white house senators聽
way economic triggers for future relief聽聽
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so what this would mean and let let's talk a聽
little bit about it before i show you some more聽聽
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of the details but what this would mean is that聽
depending on the economy you can depend on the the聽聽
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jobs numbers or or what have you we just saw jobs聽
numbers come out yesterday and they were not good聽聽
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and so we might think that we're doing a lot聽
better than what we actually are there's different聽聽
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reasons you have different politicians coming聽
out and saying you have some politicians coming聽聽
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out and saying well that's because the enhanced聽
unemployment is giving people too much money and聽聽
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they don't want to go back to work so that's one聽
argument you have other politicians saying look聽聽
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things have changed and you still have you have聽
some people that are choosing not to go back to聽聽
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work right now because they're still taking聽
care of the kids not all kids have been been聽聽
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able to go back to school and so there are a lot聽
of different things that are going on right now聽聽
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and also the the talk of the the wages we're聽
talking about increasing the minimum wage聽聽
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some people are looking at some of these same聽
jobs and they're thinking you know what i need聽聽
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to move into a different type of work because聽
if i'm an essential worker or if i'm a worker聽聽
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that is really affected by pandemics then maybe i聽
want to get another job where i have a little more聽聽
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flexibility where i can work in the office but i聽
can also work from home all these different things聽聽
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are opening people's eyes to the fact that maybe i聽
should be looking for different type of employment聽聽
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maybe i shouldn't be going back to that same job聽
because it's it's risky at this point we could be聽聽
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facing another pandemic any time in the future and聽
do you want to put in another 10 years into a job聽聽
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where you're just waiting for that next pandemic聽
to happen and then then you'd be out of a job聽聽
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uh so investing in your future if you're聽
investing in your future you might be looking聽聽
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towards some other other types of聽
of opportunities when it comes to聽聽
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to work okay so let's let's go back聽
to the the stabilizers here now聽聽
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what they're doing we have the economic security聽
project and they briefed now understand this聽聽
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right now they're only briefing staff members聽
from the senate finance committee okay so they're聽聽
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just briefing the staff members they're not聽
briefing senators okay as well as joe biden's聽聽
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administration they're briefing staffers聽
there so they're not talking to the actual聽聽
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politicians or just talking to the staff members聽
the staff members will relay this information back聽聽
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to the politicians and if the politicians like聽
what they hear then they'll start talking about聽聽
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it but we haven't gotten to that point yet and聽
so we're talking about both stimulus checks and聽聽
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enhanced unemployment so depending on the economy聽
and this this is this would all have to be figured聽聽
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out as far as what would trigger this but the way聽
the stabilizers work if the economy is doing bad聽聽
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then these stabilizers will come in place and then聽
people would receive stimulus checks people would聽聽
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receive enhanced unemployment automatically we聽
wouldn't have to wait for politicians to figure聽聽
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out if they wanted to vote for it or against聽
it automatically these stabilizers would come聽聽
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into place and automatically people would receive聽
those stimulus checks or the enhanced unemployment聽聽
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now this is a good thing because it will avoid聽
politicians grandstanding or politicians uh聽聽
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putting things on pause and we saw how this聽
happened in in the last stimulus packages we聽聽
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saw that there was a huge delay from the cares act聽
the first stimulus checks that people received to聽聽
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the second round of stimulus checks you received聽
the first one in march of 2020 the second stimulus聽聽
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check didn't come until december people didn't聽
actually receive that check until in january聽聽
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uh so you saw how how long it took for聽
politicians to to come together and try to聽聽
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agree upon something so if you have the聽
stabilizers in place automatically that聽聽
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stuff will happen depending on how our economy is聽
is doing so this is something i think could work聽聽
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and i want you to understand you're not this聽
is not saying that you're going to get another聽聽
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stimulus check okay this is not saying that they聽
are going to extend enhanced unemployment even聽聽
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further down the road all this is saying is that聽
if the economy gets bad let's say three four years聽聽
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down the road the economy uh has a downturn聽
and it goes down we go back into a recession聽聽
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that's when those automatic stabilizers would聽
come into play and that's when you would receive聽聽
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those stimulus checks and they enhanced聽
unemployment so you we might not see anything聽聽
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when it comes to another round of stimulus checks聽
but the stabilizer would give us insurance in case聽聽
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the economy goes goes in the wrong direction so聽
i think this is in the talk is that they want to聽聽
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add this to either american families plan or the聽
american jobs plan these infrastructure bills that聽聽
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they're looking at right now and i think this聽
is something that could potentially happen okay聽聽
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so you're not going to receive a stimulus check聽
i want to make that clear you're not going to聽聽
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receive a stimulus check unless the economy is聽
doing really bad and that's when this this trigger聽聽
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would would happen so the way that i'm looking聽
at this this is one of those situations where you聽聽
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could add this to one of those infrastructure聽
bills and it's not going to cost anything聽聽
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as of right now now if it were triggered聽
we're talking about it could be 800 850聽聽
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billion dollars that it could cost because聽
we're talking about both enhanced unemployment聽聽
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as well as the stimulus checks and they cost about聽
the same about 400 uh 425 billion dollars for each聽聽
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and so we'll have to follow it and see where聽
it goes but this is good news if the senators聽聽
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do take this up and they say look this is聽
something that i think we should get behind聽聽
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at the very least so if if they're not going to聽
go for another round of stimulus checks at least聽聽
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they could put these stabilizers in place and聽
this is one of those situations where you can聽聽
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contact your congress person and let them know i聽
think this is something that needs to at least be聽聽
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the language needs to be in this bill it's聽
not going to cost anything okay it will not聽聽
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cost anything unless we're in a situation where聽
our economy is so bad we need to have something聽聽
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to stimulate the economy and then it聽
will balance everything out and it gives聽聽
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businesses a little more assurance when it聽
comes to the economy they could be they could聽聽
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rest assured knowing that if things are were to聽
get really bad then we'd be in a situation where聽聽
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money would be coming stimulus would be coming聽
to to help those businesses i want to know what聽聽
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you guys think about this so please leave a聽
comment below if you like this video please聽聽
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give me a thumbs up please subscribe for聽
more and i'll talk to you in the next one
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bye
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you
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