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Hey ladies and gentlemen, this is Carmine Sabia for Explain America
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Folks, Joe Biden is getting it from all angles. Republicans are furious, but now even some top Democrats are furious
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Folks, before we get started, please make sure you like, comment, share, and subscribe, those little things really help us out and they help our channel
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continue to grow. Joe Biden and House Speaker Kevin McCarthy reached a deal on Friday to
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extend the debt ceiling, to increase the debt ceiling. Now, for the first time in a long time, Republicans actually
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got some concessions here. So it's really a win for Republicans and no, they didn't get everything on their wishlist
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They didn't get most things on their wishlist, but they got some things
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And as opposed to years past where they got nothing, this is actually a very big win
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So you have to take it with that grain of salt. Is it everything we wanted? No, it's not
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But the only people that really lost in the deal were Democrats
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They got nothing. They got nothing. We had to raise the debt ceiling
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The catastrophe that would have happened if we defaulted is so much bigger than a
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government shutdown. And I realize that a lot of talking heads and a lot of people in Congress who make
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their career on a lot of bluster and talk aren't really expressing to you how
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catastrophic it could have been to the dollar, to our economy, and could have
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permanently damaged the economic future of the United States. So you're talking about, we don't want to go bankrupt
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Of course we don't. And that has to be handled. But defaulting on the debt is absolutely not the way to do that
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That would cause us possibly a great depression. That being said, the problem with the debt deal is now that some Democrats might not
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even get on board. One top Democrat, Pramila Jayapal, the head of the progressive caucus, she said
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that Joe Biden and the Democrats have to be worried about them. Let's take a look at that
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So I know you hate it when I do this, but I'm going to give you a yes or no question right now. And the yes or no question is all the Democrats
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I may or may not answer. Well, that's fair. But Democrats watching right now at the White House, your friend, Hakeem
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Jeffries, others, do they still have to worry about the progressive caucus and
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whether or not your caucus will support? Yes, they do. Okay. Congresswoman Jayapal, thank you so much
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They have to worry. Yes, they have to worry. Okay. Well, you heard the lady
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Thank you so much, Congresswoman. Good to see you, as always. Her caucus has over 100 members
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So the question is, will the debt ceiling be passed? You've got the guys on the right that are saying, hey, look, we don't like this deal
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And you got the guys on the left that are saying, hey, we don't like this deal. Right. These are the far ends of the right and the left of the parties
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They don't like the deal. They tend to operate more on a all or nothing basis
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And it's how they do their fundraising. That's the reality of the situation
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The debt deal will get passed most likely. And it'll get passed because a lot of people, a lot more people in the House
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of Representatives from the Republicans and the Democrats are closer to the middle
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And what they're going to do is they're going to get together on this and the middle will win because the middle outweighs the far left and the far right
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Something has to be done about the out of control spending. They're not wrong in what they're saying
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And this could conceivably cost Kevin McCarthy his speakership. But the consequences of defaulting are so catastrophic that it was a chance that has
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to be taken. We cannot default on the debt. We can't. China, Russia, the BRICS coalition, they are looking, they are waiting, they are
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chomping at the bit for the dollar to collapse so they can make a move as the
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world's reserve currency, which would annihilate us. This was important. It had to get done for the security financially of our country and militarily
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of our country for national security. This had to get done. And I know that some people don't want to hear that, but it is reality
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And now we have to address the spending problem. We finally have to address the spending problem
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We now have a weapon to use and we have a doorway. Let's use it to the best of our ability
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Folks, again, I'm Carmine Sabia. This is Explain America. Please remember to like, comment, share and subscribe
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We love you guys. God bless you. Take care, everybody
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