1 00:00:15,076 --> 00:00:25,596 Speaker 1: Pushkin, this is solvable. On Jacob Weisberg, we're pledging one 2 00:00:25,676 --> 00:00:29,436 Speaker 1: billion dollars per year to alleviate extreme poverty in New 3 00:00:29,516 --> 00:00:33,356 Speaker 1: York City. New York's problems are a microcosm of America's 4 00:00:33,356 --> 00:00:36,676 Speaker 1: economic challenges. But how far we'll even a billion dollars 5 00:00:36,716 --> 00:00:39,756 Speaker 1: get us in the biggest city in the country. Across 6 00:00:39,796 --> 00:00:44,396 Speaker 1: the country, millions more people are struggling with unemployment, unpaid bills, 7 00:00:44,476 --> 00:00:47,356 Speaker 1: and sometimes hunger. And for those who are poor to 8 00:00:47,396 --> 00:00:50,796 Speaker 1: begin with, things maybe even worse. If a family winds 9 00:00:50,876 --> 00:00:53,916 Speaker 1: up in our shelter system, we are spending six thousand 10 00:00:53,916 --> 00:00:57,916 Speaker 1: dollars per month on that family, And so if you 11 00:00:58,316 --> 00:01:00,956 Speaker 1: spend a fraction of that keeping someone in their home 12 00:01:01,116 --> 00:01:02,876 Speaker 1: and they don't wind up in our shelter system, it's 13 00:01:02,876 --> 00:01:06,076 Speaker 1: actually a win. Andrew Yang became a household name running 14 00:01:06,076 --> 00:01:09,556 Speaker 1: for president on a platform of a guaranteed income for everyone. 15 00:01:10,236 --> 00:01:12,636 Speaker 1: Now he's running for mayor of New York City, and 16 00:01:12,756 --> 00:01:15,876 Speaker 1: his message is similar. He wants to get cash into 17 00:01:15,956 --> 00:01:19,476 Speaker 1: the hands of people who need it urgently. Eleven US 18 00:01:19,556 --> 00:01:22,916 Speaker 1: cities have committed to versions of cash assistance programs or 19 00:01:22,956 --> 00:01:28,396 Speaker 1: guaranteed income, including Stockton, California, Hudson, New York, Saint Paul, 20 00:01:28,476 --> 00:01:31,036 Speaker 1: and Pittsburgh. Eighty five percent of Americans are for a 21 00:01:31,076 --> 00:01:34,156 Speaker 1: cash relief during the pandemic, and fifty five percent are 22 00:01:34,236 --> 00:01:36,996 Speaker 1: for an in perpetuity. Is this another example of something 23 00:01:36,996 --> 00:01:39,596 Speaker 1: where you just have to invent a local version of 24 00:01:39,636 --> 00:01:44,956 Speaker 1: it because the more rationalized national solution isn't available to you. Well, 25 00:01:44,956 --> 00:01:47,956 Speaker 1: you said it, I didn't, Jacob. New York is a 26 00:01:47,996 --> 00:01:50,876 Speaker 1: city with over eight million people. If something works here, 27 00:01:51,036 --> 00:01:54,596 Speaker 1: it could work anywhere. Yang's plan could provide a powerful 28 00:01:54,636 --> 00:01:58,116 Speaker 1: case study for the rest of the country. I'm Andrew Yang, 29 00:01:58,196 --> 00:02:01,556 Speaker 1: and my solvable is extreme poverty in New York City. 30 00:02:01,756 --> 00:02:06,436 Speaker 1: We can solve it, we can eradicate it. Andrew Yang 31 00:02:06,516 --> 00:02:09,036 Speaker 1: is pushing for a new kind of universal basic income. 32 00:02:09,436 --> 00:02:13,436 Speaker 1: This time it's targeted, which is an oxymoron. How can 33 00:02:13,476 --> 00:02:18,196 Speaker 1: you support something universally but deliver it selectively. I started 34 00:02:18,236 --> 00:02:21,276 Speaker 1: by asking him to explain how something like UBI could 35 00:02:21,316 --> 00:02:24,036 Speaker 1: work in New York City. So you do have to 36 00:02:24,356 --> 00:02:27,596 Speaker 1: draw lines and parameters. You know, it's not feasible for 37 00:02:27,676 --> 00:02:29,756 Speaker 1: us to give all eight point three million New Yorkers 38 00:02:30,356 --> 00:02:32,916 Speaker 1: a certain amount of cash, So we are targeting the 39 00:02:33,036 --> 00:02:37,076 Speaker 1: half a million New Yorkers who are in extreme poverty, 40 00:02:37,196 --> 00:02:40,676 Speaker 1: and our goal is to lift them up so that 41 00:02:40,716 --> 00:02:43,596 Speaker 1: they have at least a certain baseline level of resources. 42 00:02:43,636 --> 00:02:46,556 Speaker 1: It's more of a guaranteed minimum income in New York 43 00:02:46,596 --> 00:02:48,996 Speaker 1: City than it is a universal basic income that we're 44 00:02:49,036 --> 00:02:51,916 Speaker 1: looking to implement. And where do you set the baseline? 45 00:02:51,956 --> 00:02:54,636 Speaker 1: What would be the monthly payment to someone now in 46 00:02:54,716 --> 00:02:58,676 Speaker 1: extreme poverty in New York City. So the monthly payment 47 00:02:59,236 --> 00:03:02,756 Speaker 1: to get the five hundred thousand porous New Yorkers out 48 00:03:02,796 --> 00:03:06,716 Speaker 1: of extreme poverty averages out to two thousand dollars per 49 00:03:06,756 --> 00:03:12,356 Speaker 1: person per year. So we're pledging one billion dollars per 50 00:03:12,436 --> 00:03:15,636 Speaker 1: year to alleviate extreme poverty in New York City. And 51 00:03:15,796 --> 00:03:18,556 Speaker 1: just in terms of the numbers, can two thousand dollars 52 00:03:18,596 --> 00:03:21,196 Speaker 1: really lift someone out of poverty? That doesn't sound like 53 00:03:21,196 --> 00:03:24,156 Speaker 1: a lot of money, especially in New York spread over 54 00:03:24,196 --> 00:03:27,956 Speaker 1: a year. Well, extreme poverty is defined as half the 55 00:03:28,116 --> 00:03:33,156 Speaker 1: poverty level, and so you have people that are making five, 56 00:03:33,316 --> 00:03:35,716 Speaker 1: eight ten thousand dollars a year that two thousand dollars 57 00:03:35,756 --> 00:03:38,356 Speaker 1: a year would be an extraordinary boost for them. And 58 00:03:38,396 --> 00:03:40,516 Speaker 1: the two thousand dollars is an average level. Some will 59 00:03:40,556 --> 00:03:43,196 Speaker 1: get one, some will get three. It pushes them to 60 00:03:43,916 --> 00:03:48,236 Speaker 1: a level where they're very very basic needs have a 61 00:03:48,316 --> 00:03:51,196 Speaker 1: higher chance of being met. But we have a comprehensive 62 00:03:51,236 --> 00:03:54,996 Speaker 1: anti poverty agenda to supplement this cash relief. If you 63 00:03:55,036 --> 00:03:57,636 Speaker 1: look at the population who struggling with poverty in New 64 00:03:57,716 --> 00:04:00,716 Speaker 1: York City, it overlaps very heavily with the twelve percent 65 00:04:00,836 --> 00:04:03,796 Speaker 1: of New York City residents who are unbanked. And a 66 00:04:03,796 --> 00:04:08,076 Speaker 1: lot of this population is undocumented where they're scared to 67 00:04:08,076 --> 00:04:11,436 Speaker 1: try and access basic financial services because they're afraid that 68 00:04:11,476 --> 00:04:14,516 Speaker 1: they'll get targeted in some way. So right now they're 69 00:04:14,516 --> 00:04:17,436 Speaker 1: spending hundreds of dollars a year that they don't have, 70 00:04:17,556 --> 00:04:21,796 Speaker 1: in some cases even thousands on check cashers, money lenders, 71 00:04:21,956 --> 00:04:25,196 Speaker 1: pawn shops that are charging you serious rates. So we 72 00:04:25,276 --> 00:04:29,996 Speaker 1: can simultaneously integrate more of the New Yorkers who are 73 00:04:29,996 --> 00:04:33,036 Speaker 1: struggling the most into our financial system in a way 74 00:04:33,076 --> 00:04:35,396 Speaker 1: that gets them away from these check cashers and money 75 00:04:35,436 --> 00:04:38,236 Speaker 1: lenders that are charging them and also get some money 76 00:04:38,236 --> 00:04:40,996 Speaker 1: into their hands to help meet their basic needs. Yeah, 77 00:04:41,036 --> 00:04:42,916 Speaker 1: and I know you have this interesting idea of a 78 00:04:42,956 --> 00:04:46,476 Speaker 1: people's bank. Can you explain how that would work in 79 00:04:46,516 --> 00:04:52,196 Speaker 1: New York? So the People's Bank is nonprofit fund that 80 00:04:52,236 --> 00:04:56,596 Speaker 1: we will use to augment the resources available to community 81 00:04:56,676 --> 00:05:00,356 Speaker 1: development financial institutions, which includes credit unions, and a lot 82 00:05:00,396 --> 00:05:04,756 Speaker 1: of these CDFIs are doing great work reducing the unbanked 83 00:05:04,756 --> 00:05:07,756 Speaker 1: population because they're in these communities. They're trying to plug 84 00:05:07,796 --> 00:05:12,076 Speaker 1: people in to the financial system, and so the People's 85 00:05:12,116 --> 00:05:14,156 Speaker 1: Bank is a way to get more resources to the 86 00:05:14,276 --> 00:05:16,716 Speaker 1: organizations that are touching people and doing the work every day. 87 00:05:16,956 --> 00:05:18,556 Speaker 1: The other thing that the People's Bank is going to 88 00:05:18,596 --> 00:05:21,156 Speaker 1: do is it's going to work with traditional financial institutions 89 00:05:21,156 --> 00:05:25,836 Speaker 1: to have a safe bank account for folks of any status. 90 00:05:25,996 --> 00:05:27,796 Speaker 1: So you can walk into a city bank with an 91 00:05:27,796 --> 00:05:30,956 Speaker 1: id NYC open to save bank account under the People's 92 00:05:30,956 --> 00:05:34,716 Speaker 1: Bank brand name of the People's Bank seal. So it's 93 00:05:34,716 --> 00:05:37,436 Speaker 1: a way to integrate people in the financial system by 94 00:05:37,476 --> 00:05:42,276 Speaker 1: getting more resources to community organizations and also having like 95 00:05:42,316 --> 00:05:45,676 Speaker 1: a trusted seal that will give them confidence that they 96 00:05:45,676 --> 00:05:48,156 Speaker 1: can get a bank account even at like they're a 97 00:05:48,196 --> 00:05:51,356 Speaker 1: local branch. A lot of people talk about doing that 98 00:05:51,476 --> 00:05:54,396 Speaker 1: nationally through the post office, which is in fact what 99 00:05:54,436 --> 00:05:56,516 Speaker 1: they do in some other countries. In France, I know 100 00:05:56,596 --> 00:05:59,156 Speaker 1: you can do your banking at a small scale at 101 00:05:59,156 --> 00:06:01,956 Speaker 1: the post office. Is this another example of something where 102 00:06:01,996 --> 00:06:04,516 Speaker 1: you just have to invent a local version of it 103 00:06:04,596 --> 00:06:09,676 Speaker 1: because the more rationalized national solution isn't available to you. Well, 104 00:06:09,756 --> 00:06:13,116 Speaker 1: you said it, I didn't, Jacob, but I was for 105 00:06:13,396 --> 00:06:17,516 Speaker 1: postal banking when I was running for president. It's common sense, 106 00:06:17,556 --> 00:06:19,796 Speaker 1: the no brainer. Other countries do it. You know, you 107 00:06:19,836 --> 00:06:22,076 Speaker 1: have to give the post office like more things to do, frankly, 108 00:06:22,316 --> 00:06:23,756 Speaker 1: like in a lot of these places, because like you 109 00:06:23,796 --> 00:06:27,476 Speaker 1: know that the carriage of mail isn't necessarily sustaining it. 110 00:06:27,796 --> 00:06:30,756 Speaker 1: And so let's say that you have that vision running 111 00:06:30,756 --> 00:06:32,636 Speaker 1: for president, and then you're like, hey, I'm running for 112 00:06:32,676 --> 00:06:34,316 Speaker 1: mayor of New York City, Now, like, what can we 113 00:06:34,356 --> 00:06:37,516 Speaker 1: do that's going to try and solve some of the 114 00:06:37,596 --> 00:06:41,756 Speaker 1: same problems. And that's actually a pretty good example of 115 00:06:42,156 --> 00:06:45,076 Speaker 1: the way we're approaching New York City's problems is obviously 116 00:06:45,116 --> 00:06:48,196 Speaker 1: you have different operating realities, you have different levels of resources, 117 00:06:48,436 --> 00:06:50,236 Speaker 1: But what can you do with the resources that you 118 00:06:50,276 --> 00:06:53,076 Speaker 1: have that actually solve some of the same problems. New 119 00:06:53,156 --> 00:06:55,876 Speaker 1: York presents a special case, Andrew, because it's such an 120 00:06:55,876 --> 00:06:59,596 Speaker 1: expensive place to live, and based on studies I've read 121 00:06:59,596 --> 00:07:02,236 Speaker 1: in the past, for people who didn't go to college. 122 00:07:03,116 --> 00:07:06,156 Speaker 1: There are very few jobs in New York, in the 123 00:07:06,236 --> 00:07:09,436 Speaker 1: New York area that provide a middle class income first family. 124 00:07:09,516 --> 00:07:13,076 Speaker 1: I think the unionized building trades are, you know, probably 125 00:07:13,116 --> 00:07:17,476 Speaker 1: the only major source of middle class something resembling a 126 00:07:17,516 --> 00:07:20,756 Speaker 1: middle class living for people who don't have college degrees. 127 00:07:21,156 --> 00:07:24,596 Speaker 1: Does your plan really address the depth of that problem, 128 00:07:24,636 --> 00:07:26,756 Speaker 1: that there's just a mismatch between what a cost to 129 00:07:26,836 --> 00:07:29,876 Speaker 1: live here and what jobs pay if you if you 130 00:07:29,916 --> 00:07:33,076 Speaker 1: don't have some higher education. Well, Jacob, you're you're pointing 131 00:07:33,076 --> 00:07:36,956 Speaker 1: out some of the long running problems in New York City, 132 00:07:37,436 --> 00:07:40,356 Speaker 1: and they're all tied together. So one thing you're describing 133 00:07:40,436 --> 00:07:44,116 Speaker 1: is you have an economy that disproportionately will reward folks 134 00:07:44,116 --> 00:07:48,036 Speaker 1: who are skilled and have certain levels of education. And 135 00:07:48,076 --> 00:07:49,996 Speaker 1: that's true nationwide, but it's it's more true in New 136 00:07:50,076 --> 00:07:52,556 Speaker 1: York City. To your point, the fact that there are 137 00:07:52,676 --> 00:07:56,996 Speaker 1: actually meaningful unions and organizations fighting for folks who don't 138 00:07:56,996 --> 00:08:00,676 Speaker 1: have college degrees has been an enormous path to the 139 00:08:00,676 --> 00:08:04,116 Speaker 1: middle class for ten hundreds of thousands of New Yorkers, 140 00:08:04,476 --> 00:08:06,276 Speaker 1: and that actually distinguishes New York from a lot of 141 00:08:06,276 --> 00:08:09,236 Speaker 1: other environments. I mean, like like, the unions are a 142 00:08:09,316 --> 00:08:12,556 Speaker 1: more powerful presence for mobility here than they are in 143 00:08:12,596 --> 00:08:15,436 Speaker 1: other parts of the country. So then you have folks 144 00:08:15,436 --> 00:08:18,516 Speaker 1: who are not unionized and who have low levels of education, 145 00:08:18,556 --> 00:08:19,836 Speaker 1: and to your point, a lot of them are just 146 00:08:19,876 --> 00:08:23,516 Speaker 1: scraping by. You have to try and attack the affordability issues, 147 00:08:23,916 --> 00:08:27,076 Speaker 1: and the most intractable of them is clearly housing. Just 148 00:08:27,196 --> 00:08:29,156 Speaker 1: living in New York City is very expensive, to your point, 149 00:08:29,796 --> 00:08:33,236 Speaker 1: and so that's something that we have to try to 150 00:08:33,276 --> 00:08:36,196 Speaker 1: invest in at a much higher level than we have. 151 00:08:36,956 --> 00:08:39,196 Speaker 1: And I think there are opportunities there, in part because 152 00:08:39,316 --> 00:08:46,356 Speaker 1: right now, frankly, vacancies in rental apartments are at multi 153 00:08:46,436 --> 00:08:50,956 Speaker 1: decade highs because of COVID. Our hotels are eighty to 154 00:08:51,036 --> 00:08:54,676 Speaker 1: ninety percent unoccupied because we're missing so many tourists. There 155 00:08:54,716 --> 00:08:58,756 Speaker 1: are opportunities to convert some of the buildings right now 156 00:08:58,796 --> 00:09:02,116 Speaker 1: that are vacant and unused too affordable housing, to try 157 00:09:02,156 --> 00:09:06,476 Speaker 1: and have the opportunity meet the need. Your presidential campaign 158 00:09:06,596 --> 00:09:09,316 Speaker 1: captured a lot of people's imagination because this was a 159 00:09:09,396 --> 00:09:14,116 Speaker 1: big idea and also it's interesting background is a neither 160 00:09:14,316 --> 00:09:18,716 Speaker 1: left nor right idea, but it was a lot more 161 00:09:18,756 --> 00:09:21,396 Speaker 1: money for a lot more people. It really was universal, 162 00:09:21,716 --> 00:09:25,116 Speaker 1: and it really was something resembling a minimum standard of 163 00:09:25,156 --> 00:09:30,916 Speaker 1: living for everybody. This plan, by comparison, just seems not 164 00:09:31,076 --> 00:09:33,276 Speaker 1: that much money for that not that many people. Is 165 00:09:33,276 --> 00:09:35,756 Speaker 1: that just the fiscal reality of New York City that 166 00:09:35,876 --> 00:09:38,636 Speaker 1: this is all you can do? Well, Jacob, I think 167 00:09:38,676 --> 00:09:41,436 Speaker 1: that most people realize that if Andreang had his way, 168 00:09:41,796 --> 00:09:44,676 Speaker 1: we'd all beginning one thousand dollars a month at this point, 169 00:09:44,676 --> 00:09:47,276 Speaker 1: I think that doesn't go fire it up like with COVID, 170 00:09:47,436 --> 00:09:49,356 Speaker 1: I'd probably be more like the two thousand dollars a 171 00:09:49,396 --> 00:09:52,196 Speaker 1: month level. And I think there are really creative ways 172 00:09:52,236 --> 00:09:53,756 Speaker 1: that we can get more buying power to the hands 173 00:09:53,756 --> 00:09:58,116 Speaker 1: of New Yorkers. So there are yeshivas in Brooklyn that 174 00:09:58,276 --> 00:10:02,636 Speaker 1: ask the parents of the children to buy two thousand 175 00:10:02,636 --> 00:10:06,636 Speaker 1: dollars worth of vouchers to locally own small businesses. They 176 00:10:06,636 --> 00:10:08,676 Speaker 1: buy these vouchers, they then use them at the locally 177 00:10:08,676 --> 00:10:11,676 Speaker 1: owned small businesses. The businesses turn them into the yeshiva, 178 00:10:11,996 --> 00:10:14,316 Speaker 1: and then the yeshiva takes a cut, let's call it 179 00:10:14,396 --> 00:10:18,156 Speaker 1: fifteen percent. So this is a massive fundraiser every year 180 00:10:18,476 --> 00:10:21,796 Speaker 1: for the yeshivas, and the small businesses win because they're 181 00:10:21,796 --> 00:10:23,356 Speaker 1: getting a lot of business that they might not have 182 00:10:23,396 --> 00:10:26,636 Speaker 1: gotten otherwise. If New York City were a country, we 183 00:10:26,636 --> 00:10:28,876 Speaker 1: would be the eleventh biggest economy in the world. We're 184 00:10:28,876 --> 00:10:31,956 Speaker 1: a very vast, diverse economy. There are ways that we 185 00:10:31,996 --> 00:10:34,476 Speaker 1: can get buying power into people's hands that get funneled 186 00:10:34,556 --> 00:10:37,596 Speaker 1: straight to locally owned small businesses in a way that's 187 00:10:37,956 --> 00:10:41,196 Speaker 1: value multiplying. And so when you look at the problems 188 00:10:41,236 --> 00:10:44,116 Speaker 1: we're trying to solve, we do have a crisis among 189 00:10:44,836 --> 00:10:48,116 Speaker 1: restaurants and small businesses where thousands are closing, thousands of 190 00:10:48,116 --> 00:10:50,996 Speaker 1: others aren't sure whether they're going to make it and 191 00:10:51,036 --> 00:10:54,596 Speaker 1: so and then we have food lines for blocks. We 192 00:10:54,676 --> 00:10:58,116 Speaker 1: have seven hundred thousand missing jobs. There are creative ways 193 00:10:58,156 --> 00:11:00,196 Speaker 1: that we can get value into people's hands that will 194 00:11:00,196 --> 00:11:03,596 Speaker 1: circulate in a way that will help our communities directly. 195 00:11:03,956 --> 00:11:06,596 Speaker 1: So when you talk about some of the physical realities 196 00:11:06,596 --> 00:11:09,716 Speaker 1: we face, you know, New York City is not the 197 00:11:09,756 --> 00:11:12,356 Speaker 1: federal government. We can't conjure up one point nine trillion. 198 00:11:13,276 --> 00:11:15,636 Speaker 1: But there are things that we can do that we'll 199 00:11:15,636 --> 00:11:18,196 Speaker 1: get value into people's hands. That's one reason I'm running 200 00:11:18,196 --> 00:11:20,596 Speaker 1: for mayors. I think I can do more to help 201 00:11:20,636 --> 00:11:23,876 Speaker 1: turn us around. At two thousand dollars a year. It 202 00:11:23,916 --> 00:11:25,916 Speaker 1: isn't really an issue, but a lot of people who 203 00:11:25,956 --> 00:11:29,876 Speaker 1: object to the idea of a UBI are simply concerned 204 00:11:29,916 --> 00:11:32,436 Speaker 1: that it will disincentivize people to work. And you know, 205 00:11:32,716 --> 00:11:35,476 Speaker 1: and this is the argument about welfare, you know, going 206 00:11:35,516 --> 00:11:38,916 Speaker 1: back decades, whether it should be conditioned on work or 207 00:11:38,916 --> 00:11:40,636 Speaker 1: whether it should be offered in the form of a 208 00:11:40,676 --> 00:11:44,636 Speaker 1: guaranteed job. Obviously, your proposals go very strongly in the 209 00:11:45,076 --> 00:11:48,956 Speaker 1: direction of non conditionality. Can you explain why you think 210 00:11:49,476 --> 00:11:52,316 Speaker 1: that's not a problem with the idea of UBI, That 211 00:11:52,516 --> 00:11:57,316 Speaker 1: is why UBI doesn't make it possible for people who 212 00:11:57,396 --> 00:12:01,516 Speaker 1: would otherwise be working fuller part time to not work well. 213 00:12:01,956 --> 00:12:03,996 Speaker 1: First on, lately out the objection, so people know what 214 00:12:04,036 --> 00:12:05,916 Speaker 1: they are, and you can imagine what they are. Number 215 00:12:05,956 --> 00:12:07,916 Speaker 1: one is how do we pay for it? And number 216 00:12:07,916 --> 00:12:10,196 Speaker 1: two is what will people do with the money? When 217 00:12:10,676 --> 00:12:13,996 Speaker 1: the Cares Act was passed and we put twelve hundred 218 00:12:13,996 --> 00:12:16,436 Speaker 1: dollars into people's hands, and this was a very small 219 00:12:16,476 --> 00:12:19,076 Speaker 1: fraction of the two point two trillion in the Cares Act, 220 00:12:19,116 --> 00:12:22,196 Speaker 1: we could have given everyone in America six thousand dollars 221 00:12:22,476 --> 00:12:24,436 Speaker 1: and still had billions left over in the cars Act, 222 00:12:24,476 --> 00:12:27,076 Speaker 1: but most of the money went to companies and institutions 223 00:12:27,076 --> 00:12:31,156 Speaker 1: of various kinds. So number one, now Americans are like, oh, 224 00:12:31,196 --> 00:12:32,836 Speaker 1: we actually had the money, you know, like we could 225 00:12:32,836 --> 00:12:34,556 Speaker 1: have done this if we wanted to at any point. 226 00:12:34,836 --> 00:12:37,556 Speaker 1: And then number two, how would you spend the money? 227 00:12:38,156 --> 00:12:40,396 Speaker 1: It's manifest and how people actually did spend the money, 228 00:12:40,436 --> 00:12:43,556 Speaker 1: because when they got the twelve hundred dollars, they spent 229 00:12:43,636 --> 00:12:48,116 Speaker 1: it on food and fuel, their basic needs and keeping 230 00:12:48,116 --> 00:12:50,796 Speaker 1: a roof over their head, and it did not transform 231 00:12:50,876 --> 00:12:53,756 Speaker 1: their personalities, it didn't change their work ethic. And so 232 00:12:53,836 --> 00:12:58,276 Speaker 1: now like the objections that people have really been kind 233 00:12:58,316 --> 00:13:02,676 Speaker 1: of demonstrated not to be as compelling by our own experience, 234 00:13:03,076 --> 00:13:04,956 Speaker 1: you know. And it's one reason why cash relief now 235 00:13:05,076 --> 00:13:09,916 Speaker 1: is so front and center in our national conversation as 236 00:13:09,916 --> 00:13:12,756 Speaker 1: to what to do. Eighty five percent of Americans are 237 00:13:12,756 --> 00:13:15,436 Speaker 1: for a cash relief during the pandemic, and fifty five 238 00:13:15,516 --> 00:13:18,996 Speaker 1: percent are for it in perpetuity. But I think that 239 00:13:19,076 --> 00:13:21,436 Speaker 1: the thought amount of work ethic, it's very deeply baked 240 00:13:21,436 --> 00:13:26,676 Speaker 1: into the American psyche. The odds of people starting a 241 00:13:26,916 --> 00:13:30,556 Speaker 1: small business in their community would skyrocket if both they 242 00:13:30,596 --> 00:13:32,996 Speaker 1: had a certain amount of money they could rely on 243 00:13:33,116 --> 00:13:35,076 Speaker 1: and if everyone in their community had a certain amount 244 00:13:35,076 --> 00:13:38,436 Speaker 1: of money to spend. How is New York's fiscal condition 245 00:13:38,716 --> 00:13:41,476 Speaker 1: looking ahead? Which is another way of asking the question 246 00:13:41,516 --> 00:13:44,476 Speaker 1: of how affordable it would be to create and expand 247 00:13:44,516 --> 00:13:47,836 Speaker 1: this program. You know, going back decades, of course, the 248 00:13:47,916 --> 00:13:51,036 Speaker 1: city had a fiscal crisis and was essentially bankrupt. But 249 00:13:51,356 --> 00:13:54,636 Speaker 1: in recent years its revenue is very much spurred by 250 00:13:54,836 --> 00:13:58,116 Speaker 1: the boom and the real estate market, and it's been 251 00:13:58,276 --> 00:14:01,076 Speaker 1: pretty flash. I mean, budgets have grown and you know, 252 00:14:01,116 --> 00:14:04,756 Speaker 1: they haven't been big shortfalls. But post COVID, obviously we 253 00:14:04,796 --> 00:14:06,556 Speaker 1: don't know what the city is going to look like, 254 00:14:06,956 --> 00:14:09,836 Speaker 1: what property values are ultimately going to settle in at 255 00:14:10,116 --> 00:14:13,436 Speaker 1: it's the city in good fiscal shape or terrible fiscal shape. 256 00:14:14,476 --> 00:14:16,876 Speaker 1: The city is in bad fiscal shape. You're looking at 257 00:14:16,996 --> 00:14:20,476 Speaker 1: multibillion dollar deficits for the foreseeable future, for the next 258 00:14:20,596 --> 00:14:23,396 Speaker 1: let's call it four years. Some of the numbers, Jacob, 259 00:14:23,436 --> 00:14:25,996 Speaker 1: that I have top of mind. We've lost twenty seven 260 00:14:26,036 --> 00:14:30,236 Speaker 1: thousand lives, seven hundred thousand jobs, sixty million tourists who 261 00:14:30,316 --> 00:14:33,636 Speaker 1: used to support three hundred thousand of those jobs. Several 262 00:14:33,716 --> 00:14:37,436 Speaker 1: hundred thousand people have left New York City, including some 263 00:14:37,476 --> 00:14:41,196 Speaker 1: people who are frankly very high taxs payers and earners. 264 00:14:41,836 --> 00:14:45,636 Speaker 1: Some way, ridership is down seventy percent. Let's call it 265 00:14:45,796 --> 00:14:49,476 Speaker 1: a four to five billion dollars deficit on a budget 266 00:14:49,556 --> 00:14:52,716 Speaker 1: of eighty eight billion or so, and we're not even 267 00:14:52,756 --> 00:14:55,716 Speaker 1: sure whether that's the precise level because some of these 268 00:14:55,716 --> 00:15:00,276 Speaker 1: things are still playing out. Midtown commercial real estate is 269 00:15:00,276 --> 00:15:04,036 Speaker 1: eighty two percent unoccupied, which is devastating not just for 270 00:15:04,236 --> 00:15:09,836 Speaker 1: those organizations and their landlords over time, but also security 271 00:15:09,876 --> 00:15:12,556 Speaker 1: guards and the food trucks and the street level retail 272 00:15:12,596 --> 00:15:16,756 Speaker 1: that ordinarily would have that those commuters every day. This 273 00:15:16,836 --> 00:15:19,516 Speaker 1: is a really, really dark time for New York City, 274 00:15:19,516 --> 00:15:21,516 Speaker 1: and there's no guarantee it comes back the way that 275 00:15:21,836 --> 00:15:25,196 Speaker 1: we wanted to. We should know that that's what we're facing. 276 00:15:25,396 --> 00:15:27,716 Speaker 1: I guess someone could come and give you, like the 277 00:15:27,796 --> 00:15:31,956 Speaker 1: rosier version what I just described, but I'm a numbers 278 00:15:31,956 --> 00:15:35,316 Speaker 1: guy that those are just the realities we're facing now. 279 00:15:35,676 --> 00:15:39,276 Speaker 1: You were asking in the context of this particular universal 280 00:15:39,556 --> 00:15:42,276 Speaker 1: or in my case not universal, like a guaranteed minimum 281 00:15:42,276 --> 00:15:44,316 Speaker 1: income in New York City. I do want to tell 282 00:15:44,356 --> 00:15:46,916 Speaker 1: a story that pushes us in that direction. I talked 283 00:15:46,956 --> 00:15:50,276 Speaker 1: to a philanthropist here in New York. She ran a 284 00:15:50,356 --> 00:15:57,316 Speaker 1: foundation that gave new moms baby clothes and formula and strollers, 285 00:15:57,756 --> 00:16:00,156 Speaker 1: and then when COVID hit, they just converted to cash. 286 00:16:00,276 --> 00:16:01,516 Speaker 1: They were like, well, we can't give you all the 287 00:16:01,516 --> 00:16:03,716 Speaker 1: stuff because you know it's tough for this environment, so 288 00:16:03,716 --> 00:16:05,716 Speaker 1: it's going to send you money. And then it turns 289 00:16:05,716 --> 00:16:10,236 Speaker 1: out that that worked really well. They're like, hey, maybe 290 00:16:10,236 --> 00:16:12,196 Speaker 1: we should stick to this. So there are a lot 291 00:16:12,196 --> 00:16:16,516 Speaker 1: of philanthropists who had similar experiences, and I'm optimistic that 292 00:16:17,036 --> 00:16:20,276 Speaker 1: we're going to be able to augment our resources by 293 00:16:20,276 --> 00:16:24,436 Speaker 1: teaming up with some of the nonprofits and foundations in 294 00:16:24,476 --> 00:16:26,276 Speaker 1: the city to say, look, this is the most effective 295 00:16:26,276 --> 00:16:29,436 Speaker 1: thing we can do to alleviate poverty directly by putting 296 00:16:29,436 --> 00:16:32,516 Speaker 1: money into people's hands, because if you keep people in 297 00:16:32,556 --> 00:16:35,236 Speaker 1: more stable situations in New York City, Jacob, we actually 298 00:16:35,236 --> 00:16:37,676 Speaker 1: save a lot of money. Yeah. I think a question 299 00:16:37,756 --> 00:16:40,596 Speaker 1: coming up in the debates is surely going to be 300 00:16:41,076 --> 00:16:44,396 Speaker 1: whether this is the best use of a billion dollars 301 00:16:44,436 --> 00:16:46,956 Speaker 1: to alleviate poverty in New York. You know, you could 302 00:16:46,996 --> 00:16:49,916 Speaker 1: do a lot about housing and homelessness with a billion dollars. 303 00:16:49,996 --> 00:16:52,156 Speaker 1: You could do a lot for the public schools given 304 00:16:52,156 --> 00:16:55,676 Speaker 1: those other pressing needs, do you think it really makes 305 00:16:55,676 --> 00:17:02,316 Speaker 1: sense to be categorical about supplementing cash income well, Jacob, 306 00:17:02,356 --> 00:17:04,236 Speaker 1: but one of the problems you cited is homelessness, and 307 00:17:04,356 --> 00:17:07,636 Speaker 1: I'm very confident that putting resources into people's hands it's 308 00:17:07,676 --> 00:17:10,716 Speaker 1: going to reduce the crisis of homelessness that we're seeing 309 00:17:10,716 --> 00:17:12,876 Speaker 1: in New York City. If a family winds up in 310 00:17:12,876 --> 00:17:16,316 Speaker 1: our shelter system, we are spending six thousand dollars per 311 00:17:16,436 --> 00:17:20,036 Speaker 1: month on that family. And so if you spend a 312 00:17:20,116 --> 00:17:22,556 Speaker 1: fraction of that keeping someone in their home and they 313 00:17:22,596 --> 00:17:24,676 Speaker 1: don't wind up in our shelter system, it's actually a win. 314 00:17:25,196 --> 00:17:27,756 Speaker 1: One of the things I've committed to is reducing the 315 00:17:27,836 --> 00:17:30,556 Speaker 1: level of street homelessness by more than fifty percent in 316 00:17:30,596 --> 00:17:33,556 Speaker 1: my first term, and it is doable. We can invest 317 00:17:33,556 --> 00:17:36,956 Speaker 1: in safe haven beds and mental health resources and supportive 318 00:17:36,956 --> 00:17:41,836 Speaker 1: housing and more assertive interventions to get people the help 319 00:17:41,876 --> 00:17:44,476 Speaker 1: that they need. So what I would argue is that 320 00:17:44,596 --> 00:17:48,516 Speaker 1: this extreme poverty relief program will actually reduce some of 321 00:17:48,516 --> 00:17:51,036 Speaker 1: the other problems that you're talking about, whether it be 322 00:17:51,076 --> 00:17:55,756 Speaker 1: homelessness or public safety or education. Because obviously a lot 323 00:17:55,796 --> 00:17:58,916 Speaker 1: of these people have families, and it's very difficult for 324 00:17:58,996 --> 00:18:01,436 Speaker 1: a child to learn if they're in extreme poverty. I mean, 325 00:18:01,556 --> 00:18:03,876 Speaker 1: you know, you can imagine what that that that's like. 326 00:18:04,356 --> 00:18:07,836 Speaker 1: I talked to someone yesterday who grew up in poverty, 327 00:18:07,876 --> 00:18:10,636 Speaker 1: and he said that his last meal of the week 328 00:18:10,756 --> 00:18:12,636 Speaker 1: was school lunch on Friday, and then he didn't eat 329 00:18:12,636 --> 00:18:16,196 Speaker 1: again until school lunch on Monday. You know, so you 330 00:18:16,196 --> 00:18:19,636 Speaker 1: can imagine the learning environment, you know that for that child. 331 00:18:19,996 --> 00:18:22,516 Speaker 1: So cash relief touches a lot of other problems. We 332 00:18:22,556 --> 00:18:25,956 Speaker 1: need to invest in the other problems, obviously directly, but 333 00:18:25,996 --> 00:18:28,276 Speaker 1: I would argue that this is actually something that will 334 00:18:28,276 --> 00:18:33,236 Speaker 1: make those other solutions more effective. I'm curious about why 335 00:18:33,956 --> 00:18:37,876 Speaker 1: extreme poverty and cash relief is the problem that you've 336 00:18:37,876 --> 00:18:41,636 Speaker 1: really devoted your career to at this point. I mean, personally, 337 00:18:41,796 --> 00:18:43,956 Speaker 1: is there How did you come to this? Did you 338 00:18:44,076 --> 00:18:46,876 Speaker 1: experience poverty at some point in your life? Did you 339 00:18:46,916 --> 00:18:51,916 Speaker 1: witness extreme poverty? Jacob, I'm I'm the child of immigrants, 340 00:18:51,956 --> 00:18:54,796 Speaker 1: but I had a relatively privileged upbringing in like a 341 00:18:54,796 --> 00:18:57,436 Speaker 1: middle class household, and you know, in Upstate New York 342 00:18:57,436 --> 00:19:00,236 Speaker 1: in the suburbs. For me, I came to this because 343 00:19:00,276 --> 00:19:03,596 Speaker 1: I spent years running an organization Venture for America that 344 00:19:03,636 --> 00:19:07,516 Speaker 1: I founded that was creating jobs around the country in 345 00:19:07,556 --> 00:19:10,876 Speaker 1: the Midwest and the South primary and I became convinced 346 00:19:10,996 --> 00:19:14,996 Speaker 1: that our economy is transforming in ways that will leave 347 00:19:15,036 --> 00:19:17,316 Speaker 1: millions and millions of us behind. It already is I mean, 348 00:19:17,356 --> 00:19:19,876 Speaker 1: and the pandemic has sped it up. Experts have called 349 00:19:19,876 --> 00:19:23,356 Speaker 1: it the fourth Industrial Revolution. If you play out what 350 00:19:23,876 --> 00:19:27,116 Speaker 1: impact technology will have on our labor force, it's going 351 00:19:27,196 --> 00:19:29,876 Speaker 1: to be disruptive to the lives of tens of millions 352 00:19:29,996 --> 00:19:33,996 Speaker 1: of Americans. Most common jobs in the economy are retail, 353 00:19:34,996 --> 00:19:38,476 Speaker 1: call centers, food service, food prep, truck driving, and manufacturing. 354 00:19:39,316 --> 00:19:42,116 Speaker 1: And what you've heard is that all we're going to 355 00:19:42,196 --> 00:19:44,356 Speaker 1: retrain them. But then as soon as you dig into 356 00:19:44,436 --> 00:19:47,676 Speaker 1: the realities of retraining like that, the programs don't work. 357 00:19:47,716 --> 00:19:49,356 Speaker 1: It doesn't make sense. You're not going to take a 358 00:19:49,356 --> 00:19:52,316 Speaker 1: thousand coal miners and turn them into coders. The fact is, 359 00:19:52,356 --> 00:19:54,276 Speaker 1: if you actually follow up after you have the press 360 00:19:54,276 --> 00:19:56,236 Speaker 1: release saying we're going to trade coal miners as coders, 361 00:19:56,396 --> 00:19:58,196 Speaker 1: then you get there and they're working at Sam's Club. 362 00:19:58,716 --> 00:20:01,476 Speaker 1: So I arrived at universal basic income because I saw 363 00:20:01,516 --> 00:20:05,196 Speaker 1: it as inevitable as a response to these economic changes, like, 364 00:20:05,276 --> 00:20:07,876 Speaker 1: we have to make this investment now. So that's why 365 00:20:07,916 --> 00:20:10,596 Speaker 1: I ran for president. We won the argument right now 366 00:20:10,636 --> 00:20:13,996 Speaker 1: at this point, though, our government is not functioning in 367 00:20:13,996 --> 00:20:16,396 Speaker 1: a way that you know, if majority of Americans want something, 368 00:20:16,396 --> 00:20:22,596 Speaker 1: it passes. So that's why I'm so passionate about it. Jacob. 369 00:20:22,636 --> 00:20:26,916 Speaker 1: There's just so much unnecessary, untold human misery that we 370 00:20:26,956 --> 00:20:29,716 Speaker 1: can just alleviate tomorrow if we just decided to do so. 371 00:20:30,276 --> 00:20:32,476 Speaker 1: But you're making a bed, aren't you? That the economic 372 00:20:32,516 --> 00:20:35,356 Speaker 1: future is going to be fundamentally different from the past. 373 00:20:35,756 --> 00:20:41,436 Speaker 1: In the past, when jobs, hard physical jobs have disappeared 374 00:20:41,476 --> 00:20:46,436 Speaker 1: because of automation and trade, generally workers have moved up 375 00:20:46,436 --> 00:20:50,756 Speaker 1: the value chain. The United States has produced products with 376 00:20:50,876 --> 00:20:54,636 Speaker 1: bigger value add and ultimately standard of living increases. And 377 00:20:54,676 --> 00:20:58,236 Speaker 1: when you talk about this idea of the Fourth Industrial Revolution, 378 00:20:58,756 --> 00:21:02,516 Speaker 1: isn't it making an assumption? Obviously, the individual stories are 379 00:21:02,636 --> 00:21:05,796 Speaker 1: entirely real, and there are there structural displacement of jobs. 380 00:21:06,036 --> 00:21:08,276 Speaker 1: But when you look at the economy as a whole, 381 00:21:08,516 --> 00:21:10,996 Speaker 1: are you can in set really is our future that 382 00:21:11,156 --> 00:21:14,676 Speaker 1: is having a really significant segment of society that is 383 00:21:14,756 --> 00:21:19,676 Speaker 1: structurally unemployed ako, it's our present. Look around, you know, 384 00:21:19,756 --> 00:21:21,636 Speaker 1: I mean you have the ranks of the long term 385 00:21:21,676 --> 00:21:25,916 Speaker 1: unemployed rising every week because of the pandemic. This is 386 00:21:25,956 --> 00:21:28,436 Speaker 1: no longer speculative. This is the reality we are faced 387 00:21:28,436 --> 00:21:32,316 Speaker 1: with right now. And even the first industrial revolution of 388 00:21:32,356 --> 00:21:35,636 Speaker 1: the turn of the century involved masked riots and unrest. 389 00:21:36,156 --> 00:21:40,836 Speaker 1: Labor days inaugurated because of riots that caused a number 390 00:21:40,876 --> 00:21:45,996 Speaker 1: of deaths. And this industrial revolution is faster, nastier, broader, 391 00:21:46,756 --> 00:21:49,796 Speaker 1: it's going to touch more industries. You can just look 392 00:21:49,836 --> 00:21:52,716 Speaker 1: around and see very clearly that we are disintegrating by 393 00:21:52,756 --> 00:21:55,796 Speaker 1: the numbers. You know, you ask any economists and say, hey, like, 394 00:21:56,156 --> 00:21:58,196 Speaker 1: are these folks that are losing their jobs? Are they 395 00:21:58,236 --> 00:22:01,396 Speaker 1: like finding new opportunities? We are moving across state lines 396 00:22:01,436 --> 00:22:03,956 Speaker 1: at lower levels that we have in decades. So the 397 00:22:03,996 --> 00:22:07,916 Speaker 1: adaptation is not happening. The disintegration is. And the question 398 00:22:08,036 --> 00:22:10,396 Speaker 1: is how quickly will we acknowledge it and do something 399 00:22:10,436 --> 00:22:13,796 Speaker 1: about it? Yeah, and what can listeners do about this problem? 400 00:22:13,836 --> 00:22:16,516 Speaker 1: And I'm not talking about supporting your campaign for mayor, 401 00:22:16,636 --> 00:22:20,036 Speaker 1: I'm talking about whether or not you're elected mayor. What 402 00:22:20,116 --> 00:22:24,916 Speaker 1: can listeners do about elevating the economic status of the 403 00:22:24,956 --> 00:22:28,236 Speaker 1: worst off new Yorkers. Well, you switched the topics there, Jacob, 404 00:22:28,236 --> 00:22:30,196 Speaker 1: because first I thought you were like, what can we 405 00:22:30,196 --> 00:22:33,636 Speaker 1: do to elevate universal basic income or as a national solution, 406 00:22:33,636 --> 00:22:35,516 Speaker 1: and then it was like helping New Yorkers. I mean, 407 00:22:35,556 --> 00:22:37,916 Speaker 1: if you want to help New Yorkers, you should donate 408 00:22:37,956 --> 00:22:42,796 Speaker 1: to food pantries and nonprofits that are meeting people's needs 409 00:22:42,876 --> 00:22:45,116 Speaker 1: right now. I mean, that's very direct. You should be 410 00:22:45,236 --> 00:22:49,036 Speaker 1: supporting local businesses yourself. You should be tipping generously. You 411 00:22:49,076 --> 00:22:52,236 Speaker 1: should just be like putting money into people's hands in 412 00:22:52,316 --> 00:22:55,316 Speaker 1: any way you can. If you think that I'd make 413 00:22:55,676 --> 00:22:58,836 Speaker 1: a good leader of New York's revival, certainly I would 414 00:22:58,836 --> 00:23:03,236 Speaker 1: love your support. And at a national level, we just 415 00:23:03,276 --> 00:23:07,236 Speaker 1: need to keep pushing folks, particularly frankly like folks who 416 00:23:07,236 --> 00:23:10,636 Speaker 1: are more on the right, to say that this is 417 00:23:11,196 --> 00:23:16,756 Speaker 1: pro business, it's pro jobs, it's pro humanity. I'm happy 418 00:23:16,796 --> 00:23:18,676 Speaker 1: to say that at this point this is not a 419 00:23:18,756 --> 00:23:22,036 Speaker 1: left or right idea. It's forward and if we can 420 00:23:22,516 --> 00:23:24,876 Speaker 1: build consensus around it, we have a chance to alleviate 421 00:23:24,876 --> 00:23:26,956 Speaker 1: poverty in our time, not just in New York but 422 00:23:27,356 --> 00:23:31,436 Speaker 1: everywhere in the US. Andrew, Andrew standing you recovering recovered 423 00:23:31,516 --> 00:23:33,796 Speaker 1: from COVID nineteen. I hope you're feeling better, boy. It 424 00:23:33,876 --> 00:23:37,396 Speaker 1: must be tough campaigning when you have that illness. Well, 425 00:23:37,436 --> 00:23:40,716 Speaker 1: thank you, Jacob. I feel much better now, but it 426 00:23:40,756 --> 00:23:44,516 Speaker 1: was a nasty number of days. But you know, I 427 00:23:44,556 --> 00:23:46,956 Speaker 1: appreciate the sentiment. We're going to get through this time. 428 00:23:47,596 --> 00:23:50,836 Speaker 1: But COVID is definitely something that you should take very, 429 00:23:50,916 --> 00:23:55,836 Speaker 1: very seriously. Andrew Yang is running from mayor of the 430 00:23:55,876 --> 00:23:59,236 Speaker 1: City of New York. To learn more about universal Basic 431 00:23:59,276 --> 00:24:02,556 Speaker 1: Income and guaranteed minimum Income, check out the links in 432 00:24:02,596 --> 00:24:07,276 Speaker 1: our episode notes. Solvable Senior producer is Jocelyn Frank, Research 433 00:24:07,316 --> 00:24:11,236 Speaker 1: and booking by Lisa Donn, Managing and producer is Catherine Girardou, 434 00:24:11,436 --> 00:24:15,156 Speaker 1: and our executive producer is Mia Lobell. Special thanks this 435 00:24:15,196 --> 00:24:19,316 Speaker 1: week to Heather Faine, Kadija Holland, Maya Konig, Emily Rostek, 436 00:24:19,716 --> 00:24:24,076 Speaker 1: Eric Sandler, Carly Migliori, John Schnars, Christina Sullivan, and Maggie Taylor. 437 00:24:24,676 --> 00:24:27,756 Speaker 1: Solvable is a production of Pushkin Industries. If you like 438 00:24:27,876 --> 00:24:31,076 Speaker 1: the show, please remember to share, rate, and review it. 439 00:24:31,196 --> 00:24:33,636 Speaker 1: It really helps to get the word out. You can 440 00:24:33,636 --> 00:24:37,476 Speaker 1: find Pushkin podcasts wherever you listen, including on the iHeartRadio 441 00:24:37,516 --> 00:24:40,996 Speaker 1: app and Apple podcasts. I'm Jacob Weisberg.