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Headed into november with significant legislative momentum in congress. there was the american rescue plan and the infrastructure bill there was the sweeping gun reform legislation, the first in decades that president biden signed the day after roe fell. in early august biden signed the landmark bill protecting veterans who are exposed to toxic burn pits. democrats fought a long battle to get that one passed and they did it the same week the president also signed the chips and science act, a $52 billion investment in domestic chip manufacturing that's already started attracting international b...

Arizona to $40 billion. and it's just one of several companies that is looking to get a piece of the pie as it were of these $52 billion in subsidies for chips manufacturing that are part of this c.h.i.p.s. act passed this summer. intel investments, ibm, micron, all of these are investments that president biden has been traveling across the country to highlight over these last several months. the president will highlight some of the ripple effects of these investments that go beyond the dollar figures, cleaning company, for example, contracted by tsmc talking about the fact that these kinds of...

Doesn't cost to service it. 2021, the cost was $352 billion, by the time we get out here, $1.2 trillion to service that debt that means you have less wiggle room for spending elsewhere and other priorities. this is something that people really need to pay close attention to this. this is a problem from congress, they can't make the tough decisions because it will hurt. getting this pile under control will hurt, it means higher taxes or less spending. >> now all of a sudden the interest rate on all of the debt shot up so it's that much worse to have it. >> who owns the debt? >> the u.s. owns mo...

America. so god bless you all, and may god protect our troops. thank you very much. [ applause ] >> president biden at ibm, in poughkeepsie, new york, where that company is announcing a $20 billion investment over the next ten years, in r&d, for semiconductor manufacturing, and other advanced manufacturing. this is part of what the president was saying, is the benefit of the chips bill that he signed into law back in august, which gave multiple billion, $52 billion in federal subsidies for advanced manufacturing, like this, and the president is trying to ride high on the job creation, that thi...

Enormous amount, but it doesn't implemented self. for example, making sure this 52 billion dollars for semiconductors really restores american competitiveness. that it doesn't go to help china, that it doesn't go as corporate welfare. that's a very difficult and very, very important task. i think, secretary raimondo is up to that task, but she's going to have to assemble a first rate team to implement that legislation. >> larry, we always learn so much from you. we appreciate you joining us. we'll see you next time. thank you so much. >> thank you. >> so, she had been living with a man she met...