1 00:00:00,880 --> 00:00:04,360 Speaker 1: You're listening to the Bloomberg Sound on podcast. Catch us 2 00:00:04,400 --> 00:00:07,560 Speaker 1: live weekdays at one Eastern on Bloomberg dot com, the 3 00:00:07,640 --> 00:00:10,760 Speaker 1: iHeartRadio app, and the Bloomberg Business App, or listen on 4 00:00:10,800 --> 00:00:12,800 Speaker 1: demand wherever you get your podcasts. 5 00:00:13,800 --> 00:00:16,280 Speaker 2: You'll see that we're somewhere a little different today as 6 00:00:16,280 --> 00:00:18,760 Speaker 2: we join you live from Bloomberg City Labs twenty twenty 7 00:00:18,800 --> 00:00:23,159 Speaker 2: three event in downtown Washington, DC, gathering mayors, innovators, and 8 00:00:23,200 --> 00:00:25,960 Speaker 2: business leaders from all over the country at a time 9 00:00:26,000 --> 00:00:28,760 Speaker 2: of chaos here in the nation's capital, and over the 10 00:00:28,840 --> 00:00:31,560 Speaker 2: next two hours, will be joined by city leaders from 11 00:00:31,560 --> 00:00:35,200 Speaker 2: across the nation, from Allentown, Pennsylvania to Fort Collins, Colorado. 12 00:00:35,640 --> 00:00:37,200 Speaker 2: So stay with us. We have a lot to learn 13 00:00:37,200 --> 00:00:38,880 Speaker 2: and a lot to cover here the next two hours. 14 00:00:38,920 --> 00:00:41,880 Speaker 2: We start though, with an update on Capitol Hill. Bloomberg's 15 00:00:41,920 --> 00:00:43,960 Speaker 2: Kaylee Lines has been there for a couple of hours. 16 00:00:44,280 --> 00:00:47,040 Speaker 2: As things shift under Jim Jordan's feet and Kaylee, it 17 00:00:47,080 --> 00:00:49,920 Speaker 2: looks like the Republican from Ohio is out of the 18 00:00:50,000 --> 00:00:51,519 Speaker 2: running for speaker. What's the latest. 19 00:00:52,400 --> 00:00:55,000 Speaker 3: Yeah, he's not taking himself out of the running entirely, Joe. 20 00:00:55,000 --> 00:00:57,920 Speaker 3: What he is trying to support is temporarily giving more 21 00:00:57,960 --> 00:01:00,800 Speaker 3: power to the Speaker pro tem Patrick m henry, so 22 00:01:00,880 --> 00:01:02,880 Speaker 3: that he can try to continue whipping votes that he 23 00:01:02,880 --> 00:01:05,560 Speaker 3: will need to actually get the gabble. There's a number 24 00:01:05,560 --> 00:01:07,880 Speaker 3: of different proposals on the table. We understand that the 25 00:01:07,920 --> 00:01:10,360 Speaker 3: GOP conference is actually still meeting in the basement of 26 00:01:10,400 --> 00:01:12,720 Speaker 3: the Capital trying to hammer all of this out. One 27 00:01:12,760 --> 00:01:15,120 Speaker 3: proposal on the table is from Congressman Joyce. It would 28 00:01:15,120 --> 00:01:18,960 Speaker 3: empower McHenry through January third. There's another on the table, though, 29 00:01:19,080 --> 00:01:21,800 Speaker 3: from Mike Flood, which would actually give mckenry full power 30 00:01:21,959 --> 00:01:24,199 Speaker 3: of the speakership, but for a shorter period of time 31 00:01:24,520 --> 00:01:27,480 Speaker 3: until November thirtieth. There are a number of representatives who 32 00:01:27,520 --> 00:01:29,759 Speaker 3: came out who spoke with reporters who have suggested they 33 00:01:29,800 --> 00:01:32,800 Speaker 3: do not like this planned. Tim Burchett, Marjorie Taylor Green, 34 00:01:32,920 --> 00:01:35,640 Speaker 3: Ralph Norman, just to name a few, are not on board. 35 00:01:35,680 --> 00:01:37,080 Speaker 3: So it's going to come down to the math here. 36 00:01:37,120 --> 00:01:39,960 Speaker 3: It's not clear Joe, that that kind of resolution has 37 00:01:40,000 --> 00:01:42,480 Speaker 3: the support within the Republican Conference. Then it would be up, 38 00:01:42,680 --> 00:01:44,959 Speaker 3: of course, to the Democrats to see if something like 39 00:01:45,000 --> 00:01:45,839 Speaker 3: that could get done. 40 00:01:47,760 --> 00:01:50,320 Speaker 2: So help me understand this, help all of our listeners 41 00:01:50,360 --> 00:01:52,360 Speaker 2: and viewers here, Kaylee, because when you and I were 42 00:01:52,400 --> 00:01:54,440 Speaker 2: talking at this time yesterday, we thought there was going 43 00:01:54,520 --> 00:01:57,840 Speaker 2: to be a third round. That's not happening now. Your 44 00:01:57,880 --> 00:02:01,360 Speaker 2: point is that Jim Jordan essentially will stand in the wings. 45 00:02:01,880 --> 00:02:04,680 Speaker 2: Well Patrick McHenry gets the hard work done as an 46 00:02:04,720 --> 00:02:08,440 Speaker 2: empowered temporary speaker, and then what there's another election, say 47 00:02:08,480 --> 00:02:10,240 Speaker 2: in January, whenever that period ends. 48 00:02:11,040 --> 00:02:12,799 Speaker 3: Yeah, that's exactly right, Joe. To put it in the 49 00:02:12,840 --> 00:02:15,200 Speaker 3: words of Congressman Tim Burchett from Tennessee, who is just 50 00:02:15,240 --> 00:02:17,200 Speaker 3: speaking to me and a couple other reporters, he thinks 51 00:02:17,240 --> 00:02:19,720 Speaker 3: this is just essentially kicking the can down the road. 52 00:02:19,760 --> 00:02:22,560 Speaker 3: But in some ways it kind of is empower McHenry 53 00:02:22,600 --> 00:02:25,000 Speaker 3: to do the work of the House in the interim term, 54 00:02:25,160 --> 00:02:27,240 Speaker 3: things that need to get done, like funding the government 55 00:02:27,240 --> 00:02:30,880 Speaker 3: past November seventeenth, trying to get potentially a supplemental package 56 00:02:30,880 --> 00:02:33,720 Speaker 3: with funding for Israel through Congress as well, and in 57 00:02:33,760 --> 00:02:36,240 Speaker 3: the meantime, behind the scenes, Jim Jordan will be trying 58 00:02:36,280 --> 00:02:38,960 Speaker 3: to garner the support he needs to actually get the 59 00:02:38,960 --> 00:02:40,960 Speaker 3: full speakership. So that seems to be the plan, but 60 00:02:40,960 --> 00:02:42,800 Speaker 3: again it's unclear at this time whether or not that 61 00:02:42,840 --> 00:02:45,480 Speaker 3: plan will move forward if my understanding from speaking to 62 00:02:45,520 --> 00:02:47,160 Speaker 3: members in the hallways that they're going to try to 63 00:02:47,200 --> 00:02:50,280 Speaker 3: sort this out to some degree behind closed doors before 64 00:02:50,320 --> 00:02:53,560 Speaker 3: taking anything to the floor. So remains very unclear whether 65 00:02:53,600 --> 00:02:55,760 Speaker 3: we'll see anything heading to the floor today. 66 00:02:57,760 --> 00:03:00,880 Speaker 2: Wow, really amazing stuff here, Kayley. Of course, that means 67 00:03:01,000 --> 00:03:05,120 Speaker 2: funding for Israel, Ukraine, Taiwan and the border as we've 68 00:03:05,120 --> 00:03:07,880 Speaker 2: discussed coming together into one piece of legislation. We'll just 69 00:03:07,960 --> 00:03:10,440 Speaker 2: have to wait the presidents speaking of the nation tonight 70 00:03:10,480 --> 00:03:12,480 Speaker 2: to make the case for it. But there's no one 71 00:03:12,520 --> 00:03:13,360 Speaker 2: to receive the bill. 72 00:03:14,680 --> 00:03:16,760 Speaker 3: Well, that's exactly right. It's going to have a hard 73 00:03:16,760 --> 00:03:19,760 Speaker 3: time getting congressional approval when there's only one chamber of 74 00:03:19,760 --> 00:03:22,320 Speaker 3: Congress at the moment that is actually functioning. The Senate 75 00:03:22,360 --> 00:03:24,480 Speaker 3: seems eager to move on that, Joe, But of course 76 00:03:24,520 --> 00:03:26,560 Speaker 3: the House is a different question, which comes back to 77 00:03:26,600 --> 00:03:28,600 Speaker 3: the idea of if they can't co a less around 78 00:03:28,680 --> 00:03:31,120 Speaker 3: one individual who at this time can get two hundred 79 00:03:31,120 --> 00:03:33,040 Speaker 3: and seventeen votes, which it seems at the moment Jim 80 00:03:33,120 --> 00:03:36,120 Speaker 3: Jordan cannot. That McHenry needs to be able to act 81 00:03:36,120 --> 00:03:38,360 Speaker 3: in that way to do that. But a lot of 82 00:03:38,360 --> 00:03:40,560 Speaker 3: these members who are opposed to the idea, think this 83 00:03:40,600 --> 00:03:44,080 Speaker 3: is unconstitutional, that it may set a bad precedent. Despite 84 00:03:44,120 --> 00:03:46,040 Speaker 3: the need to actually get things done in the House, 85 00:03:46,080 --> 00:03:48,600 Speaker 3: it's just not something it seems that they can support. 86 00:03:48,680 --> 00:03:50,880 Speaker 3: So they're still trying to figure out a way forward 87 00:03:50,880 --> 00:03:53,600 Speaker 3: here to just be in a position to be able 88 00:03:53,600 --> 00:03:57,080 Speaker 3: to pass that kind of supplemental request. Actually getting members 89 00:03:57,120 --> 00:04:00,279 Speaker 3: to vote for something that includes funding for Ukraine, for example, 90 00:04:00,560 --> 00:04:02,560 Speaker 3: is going to be an entirely different story that either 91 00:04:03,360 --> 00:04:06,320 Speaker 3: a more powerful Patrick mckenry in a temporary role or 92 00:04:06,400 --> 00:04:08,640 Speaker 3: ultimately a House Speaker is going to have the job 93 00:04:08,680 --> 00:04:09,360 Speaker 3: of trying to do. 94 00:04:11,760 --> 00:04:13,920 Speaker 2: Pretty remarkable. Kaylee is great to see you, Thanks for 95 00:04:13,960 --> 00:04:15,800 Speaker 2: the update, great work today on the Hill, and I'll 96 00:04:15,800 --> 00:04:17,320 Speaker 2: meet you back in the Bureau a little bit later 97 00:04:17,360 --> 00:04:21,160 Speaker 2: on Bloomberg'skaylee lines who's normally with us here on the broadcast, 98 00:04:21,200 --> 00:04:23,680 Speaker 2: but we're on both ends of Pennsylvania Avenue as I 99 00:04:23,800 --> 00:04:27,159 Speaker 2: join you from the Waldorf in downtown d C, which 100 00:04:27,200 --> 00:04:30,479 Speaker 2: today is hosting Bloomberg City Labs twenty twenty three event, 101 00:04:30,520 --> 00:04:33,359 Speaker 2: and we're surrounded by a lot of people who work 102 00:04:33,760 --> 00:04:36,520 Speaker 2: for government elected officials who do not have the luxury 103 00:04:36,600 --> 00:04:40,599 Speaker 2: of this kind of Well, I guess we'll say politics 104 00:04:41,040 --> 00:04:42,919 Speaker 2: that we're seeing in Washington. They have to deal with 105 00:04:43,000 --> 00:04:45,880 Speaker 2: real matters in real time. Those are the mayors of 106 00:04:46,000 --> 00:04:48,560 Speaker 2: towns and cities across the country, many of whom we're 107 00:04:48,600 --> 00:04:51,040 Speaker 2: going to meet over the next two hours, beginning right 108 00:04:51,080 --> 00:04:54,160 Speaker 2: now with Mayor Jenny Aren't, Democrat from Fort Collins, Colorado. 109 00:04:54,200 --> 00:04:56,039 Speaker 2: Welcome to Washington. It's great to see you. Well, thanks 110 00:04:56,080 --> 00:04:57,640 Speaker 2: for having me, Thanks for being with us here on 111 00:04:57,680 --> 00:05:00,280 Speaker 2: Bloomberg Radio. You just heard Kaylee disc I have the 112 00:05:00,320 --> 00:05:04,119 Speaker 2: madness that's happening just blocks away from here, and I wonder, 113 00:05:04,400 --> 00:05:07,080 Speaker 2: first of all, what you're hearing from folks in Fort 114 00:05:07,120 --> 00:05:10,120 Speaker 2: Collins when they watch the news, read the papers, go 115 00:05:10,200 --> 00:05:13,239 Speaker 2: online and read stories that just don't seem to make sense. 116 00:05:14,200 --> 00:05:16,560 Speaker 4: Well, they fundamentally, I think washingting is broken, and I 117 00:05:16,560 --> 00:05:18,719 Speaker 4: think that we can see that it is right now, 118 00:05:19,120 --> 00:05:21,359 Speaker 4: and hopefully we all hope for the best, and in 119 00:05:21,400 --> 00:05:23,640 Speaker 4: the meantime we continue with our work at the city. 120 00:05:23,800 --> 00:05:27,200 Speaker 2: So tell me what people are talking about and what 121 00:05:27,240 --> 00:05:29,760 Speaker 2: you're focused on right now, because we're speaking a different 122 00:05:29,839 --> 00:05:31,880 Speaker 2: language here inside the bubble. That's right. 123 00:05:32,160 --> 00:05:34,280 Speaker 4: Well, one of the advantages we have in city government, 124 00:05:34,279 --> 00:05:36,839 Speaker 4: our city government. Is you introduce me as a Democrat 125 00:05:36,920 --> 00:05:38,920 Speaker 4: and I am lifelong. Yeah, but we run on a 126 00:05:39,000 --> 00:05:41,600 Speaker 4: non partisan basis in Fort Collins, so we don't have 127 00:05:41,680 --> 00:05:44,640 Speaker 4: that sort of divide pulling us and pushing us in 128 00:05:44,680 --> 00:05:47,880 Speaker 4: different directions. I think that's an advantage of some cities 129 00:05:47,960 --> 00:05:50,960 Speaker 4: run that way. Right now, we're just in the middle 130 00:05:50,960 --> 00:05:54,440 Speaker 4: of a housing crisis. Fort Collins is the third most 131 00:05:54,480 --> 00:05:57,800 Speaker 4: expensive housing market outside the Coats in the United States. 132 00:05:58,560 --> 00:06:01,719 Speaker 4: So we have restrictive and c limits. We call it 133 00:06:01,800 --> 00:06:03,960 Speaker 4: U plus two just you and two other people can 134 00:06:04,000 --> 00:06:06,440 Speaker 4: live in a house. And we have a thirty five 135 00:06:06,480 --> 00:06:11,200 Speaker 4: thousand person university, Colorado State University in our city, so 136 00:06:11,240 --> 00:06:14,160 Speaker 4: we have occupancy restrictions, and then we have a lot 137 00:06:14,160 --> 00:06:19,600 Speaker 4: of restrictions on building. And right now, Tuesday night, I 138 00:06:19,640 --> 00:06:21,720 Speaker 4: had to miss the first part of City lab because 139 00:06:21,720 --> 00:06:25,840 Speaker 4: I was up taking the second vote on creating more 140 00:06:25,839 --> 00:06:28,279 Speaker 4: housing and Fort Collins, and I just read right before 141 00:06:28,320 --> 00:06:31,080 Speaker 4: I came down here. We passed it last year, there 142 00:06:31,160 --> 00:06:34,440 Speaker 4: was a citizen's initiative to have a repealed that they 143 00:06:34,480 --> 00:06:37,719 Speaker 4: were successful. We passed it again on Tuesday, and I 144 00:06:37,880 --> 00:06:40,040 Speaker 4: just read right now that they're trying to repeal it again. 145 00:06:40,120 --> 00:06:42,800 Speaker 2: Well, Jeeves, and we're here. We are with nearly eight 146 00:06:42,880 --> 00:06:46,599 Speaker 2: percent mortgage rates on a thirty year mortgage. This is 147 00:06:46,720 --> 00:06:49,120 Speaker 2: very real for people who are particularly young people who 148 00:06:49,200 --> 00:06:51,520 Speaker 2: are trying to buy into the housing market. Does that 149 00:06:51,640 --> 00:06:55,560 Speaker 2: make it more difficult to draw workers to Fort Collins? Oh, 150 00:06:55,680 --> 00:06:56,880 Speaker 2: it is a growing economy. 151 00:06:56,920 --> 00:06:59,240 Speaker 4: It's one of the least climate awareness things we can 152 00:06:59,279 --> 00:07:00,840 Speaker 4: do as the block piece pull out of our city. 153 00:07:00,920 --> 00:07:03,240 Speaker 4: Yet ask them to come in and be our police officers, 154 00:07:03,240 --> 00:07:08,120 Speaker 4: our teachers, you know, our nurses. We're closing and consolidating 155 00:07:08,160 --> 00:07:10,920 Speaker 4: schools at the same time our city is growing, so 156 00:07:10,960 --> 00:07:14,000 Speaker 4: we are fundamentally not attracting or being able to have 157 00:07:14,120 --> 00:07:16,520 Speaker 4: people affordably live in our town. 158 00:07:16,720 --> 00:07:19,520 Speaker 2: You reached first for the housing market, which is fascinating 159 00:07:19,520 --> 00:07:21,560 Speaker 2: to me, and it leads us directly into interest rates, 160 00:07:21,560 --> 00:07:23,840 Speaker 2: which brings me to inflation. We hear about it every 161 00:07:23,920 --> 00:07:27,480 Speaker 2: day here as almost an abstract. In Washington, we of course, 162 00:07:27,560 --> 00:07:30,200 Speaker 2: are a data company here. We pour over this stuff 163 00:07:30,560 --> 00:07:35,119 Speaker 2: on a daily basis at Bloomberg, but bring it home 164 00:07:35,200 --> 00:07:38,520 Speaker 2: for me a way that we might not hear conversations 165 00:07:38,520 --> 00:07:41,040 Speaker 2: in Washington apply. How much do you hear about higher 166 00:07:41,080 --> 00:07:44,360 Speaker 2: prices making life difficult? Beyond housing, but just day to 167 00:07:44,440 --> 00:07:44,960 Speaker 2: day needs. 168 00:07:45,000 --> 00:07:47,600 Speaker 4: Sure also on Tuesday Night. So recent red hot. You know, 169 00:07:47,640 --> 00:07:50,679 Speaker 4: we just increased our utility rates. I mean those things 170 00:07:50,720 --> 00:07:53,840 Speaker 4: are real bills that go to real people every month. 171 00:07:54,000 --> 00:07:56,440 Speaker 4: And course it hits the least among us the hardest 172 00:07:56,480 --> 00:07:58,640 Speaker 4: because they have to pay a higher percentage of their 173 00:07:58,720 --> 00:08:02,080 Speaker 4: income on utility. Yeah, so we increase that power and water. 174 00:08:02,920 --> 00:08:04,640 Speaker 4: So these are real, real things. 175 00:08:05,000 --> 00:08:07,080 Speaker 2: So what are you getting from Washington or not getting 176 00:08:07,080 --> 00:08:11,120 Speaker 2: from Washington? We talk a lot about infrastructure and investments 177 00:08:11,160 --> 00:08:14,160 Speaker 2: through the Inflation Reduction Act that are bringing investments to 178 00:08:14,760 --> 00:08:18,560 Speaker 2: cities like yours, But you might not have a relationship 179 00:08:18,600 --> 00:08:21,320 Speaker 2: with your member of Congress that supports those ideas. 180 00:08:21,480 --> 00:08:25,320 Speaker 4: I do. I have Jonah Goose is our congressional represents, 181 00:08:25,480 --> 00:08:28,560 Speaker 4: and we have two wonderful senators from Colorado. Yeah, we 182 00:08:28,600 --> 00:08:32,840 Speaker 4: work really closely together. Sometimes Fort Collins doesn't get the 183 00:08:32,880 --> 00:08:36,560 Speaker 4: grants other communities due because as a wealthy community, we 184 00:08:36,640 --> 00:08:40,160 Speaker 4: have already sponsored some of these initiatives on our own. 185 00:08:40,480 --> 00:08:42,080 Speaker 4: And you know what, I'm fine with that. If there's 186 00:08:42,080 --> 00:08:44,040 Speaker 4: another community that needs it more than we do, I 187 00:08:44,040 --> 00:08:47,479 Speaker 4: think it should go there. But we have been successful 188 00:08:47,480 --> 00:08:49,880 Speaker 4: in federal grants and our best rapid transit and other things. 189 00:08:50,080 --> 00:08:52,600 Speaker 2: You have another member of Congress in Colorado, Lauren Bobert, 190 00:08:52,640 --> 00:08:55,640 Speaker 2: who's been making some waves and making some news. Yes, sir, well, 191 00:08:55,679 --> 00:08:58,920 Speaker 2: she'll see will she still have that seat following the election. 192 00:08:59,360 --> 00:09:02,079 Speaker 4: We're trying every thing we can to store the reputation 193 00:09:02,200 --> 00:09:04,280 Speaker 4: and the good representation for the people of Colorado. 194 00:09:04,440 --> 00:09:07,240 Speaker 2: Yeah. Is that a talker, as we say, is at 195 00:09:07,280 --> 00:09:09,160 Speaker 2: an issue on the table for people in Colorado to 196 00:09:09,200 --> 00:09:11,360 Speaker 2: the extent that it is the sort of tabloid of 197 00:09:11,400 --> 00:09:12,280 Speaker 2: political media. 198 00:09:12,360 --> 00:09:15,839 Speaker 4: Yes, it is, Yes, and I'm very familiar. I was 199 00:09:15,880 --> 00:09:17,760 Speaker 4: in the legislature for seven years and I have a 200 00:09:17,760 --> 00:09:21,120 Speaker 4: lot of West Slope colleagues, and although it's a more 201 00:09:21,120 --> 00:09:23,800 Speaker 4: conservative part of our state, everyone deserves to be represented. 202 00:09:23,960 --> 00:09:26,040 Speaker 2: Yeah. I'm glad you joined us. Thanks for being with us, 203 00:09:26,040 --> 00:09:27,360 Speaker 2: and I wish you luck at City Lab here. I 204 00:09:27,400 --> 00:09:30,120 Speaker 2: hope it's a productive visit. It is to the nation's capital. Absolutely, 205 00:09:30,200 --> 00:09:33,160 Speaker 2: Mayor Jenny aren't with us from Fort Collins, Colorado. 206 00:09:34,360 --> 00:09:37,720 Speaker 1: You're listening to The Bloomberg Sound on podcast. Catch the 207 00:09:37,760 --> 00:09:41,640 Speaker 1: program live weekdays at one eastern on Bloomberg Radio, the 208 00:09:41,720 --> 00:09:45,040 Speaker 1: tune in app, Bloomberg dot Com, and the Bloomberg Business App. 209 00:09:45,160 --> 00:09:48,040 Speaker 1: You can also listen live on Amazon Alexa from our 210 00:09:48,040 --> 00:09:53,800 Speaker 1: flagship New York station. Just say Alexa play Bloomberg eleven thirty. 211 00:09:53,880 --> 00:09:56,240 Speaker 2: I'm Joe Matthew in Washington and glad you're with us 212 00:09:56,280 --> 00:09:58,360 Speaker 2: here on Bloomberg Sound On. As we had the voice 213 00:09:58,360 --> 00:10:02,080 Speaker 2: now of Mayor Aftab. It's wonderful to see you from 214 00:10:02,120 --> 00:10:05,719 Speaker 2: the great city of Cincinnati. Welcome to Washington. Thank you 215 00:10:05,800 --> 00:10:07,480 Speaker 2: so much for having it brings you to City Lab. 216 00:10:07,520 --> 00:10:10,080 Speaker 2: First of all, I've been talking to various mayors from 217 00:10:10,120 --> 00:10:12,640 Speaker 2: around the country and everyone seems to have a different 218 00:10:12,679 --> 00:10:14,480 Speaker 2: issue or a different agenda in a way that you 219 00:10:14,480 --> 00:10:16,080 Speaker 2: can make this event productive. Yeah. 220 00:10:16,120 --> 00:10:19,359 Speaker 5: We we have been really fortunate to be the recipient 221 00:10:19,480 --> 00:10:23,080 Speaker 5: of extraordinary investment from Bloomberg Philanthropies and a whole host 222 00:10:23,080 --> 00:10:27,120 Speaker 5: of issues, but predominantly in closing the racial wealth gap 223 00:10:27,160 --> 00:10:28,640 Speaker 5: in Cincinnati and using data. 224 00:10:28,679 --> 00:10:29,959 Speaker 2: In order to do it. 225 00:10:30,160 --> 00:10:33,160 Speaker 5: We partnered with Bloomberg to study a year long study 226 00:10:33,360 --> 00:10:38,360 Speaker 5: of the barriers to wealth generation amongst Cincinnatians, specifically Black Cincinnatians, 227 00:10:38,640 --> 00:10:42,840 Speaker 5: and that year long process resulted in recommendations on how 228 00:10:42,880 --> 00:10:46,760 Speaker 5: to mitigate the damage and also improve wealth generation in 229 00:10:46,840 --> 00:10:51,880 Speaker 5: specifically are black and historically black neighborhoods. And the data 230 00:10:52,000 --> 00:10:55,440 Speaker 5: is very very clear that if you invest dollars into 231 00:10:55,440 --> 00:10:58,600 Speaker 5: programs that put money into the hands of people who 232 00:10:58,679 --> 00:11:03,480 Speaker 5: need it most, the results are transformative. And so with Bloomberg, 233 00:11:03,480 --> 00:11:05,960 Speaker 5: we were able to pass baby bonds for all of 234 00:11:06,000 --> 00:11:09,640 Speaker 5: our preschool students going through our Preschool Promise program. They 235 00:11:09,640 --> 00:11:11,960 Speaker 5: will get savings accounts that will follow them over the 236 00:11:11,960 --> 00:11:14,560 Speaker 5: next three years because sixty percent of kids who have 237 00:11:14,600 --> 00:11:17,280 Speaker 5: access to a savings account go to college. We're spending 238 00:11:17,280 --> 00:11:20,000 Speaker 5: one point three million dollars to wipe out medical debt 239 00:11:20,000 --> 00:11:23,520 Speaker 5: for thirty thousand residents because medical debt is the biggest 240 00:11:23,520 --> 00:11:27,640 Speaker 5: barrier for wealth generation amongst our black citizens. And finally, 241 00:11:27,720 --> 00:11:32,240 Speaker 5: we have seated a universal based income program. During the pandemic, 242 00:11:32,320 --> 00:11:36,920 Speaker 5: the federal government's injection of cash into low income communities 243 00:11:37,160 --> 00:11:40,760 Speaker 5: showed huge benefits, and so we're trying to prolong those 244 00:11:41,000 --> 00:11:43,160 Speaker 5: ARP dollars with our own local program. 245 00:11:43,200 --> 00:11:45,319 Speaker 2: Well, that was quite a list. It's a lot different 246 00:11:45,360 --> 00:11:47,200 Speaker 2: than the lists I hear in Washington, and that's been 247 00:11:47,200 --> 00:11:50,600 Speaker 2: a theme and I suspect we'll be throughout the broadcast here. 248 00:11:50,640 --> 00:11:52,320 Speaker 2: But what do you make of what's happening in town 249 00:11:52,400 --> 00:11:54,720 Speaker 2: right now. The story is that we can't get along, 250 00:11:54,760 --> 00:11:57,880 Speaker 2: we can't get anything done. Congress is literally on hold 251 00:11:57,960 --> 00:12:01,520 Speaker 2: right now without a speaker, and we're dealing with some 252 00:12:01,640 --> 00:12:04,400 Speaker 2: very pressing issues at a clearly urgent time here for 253 00:12:04,480 --> 00:12:08,640 Speaker 2: our democracy, For funding our government. Does that have a 254 00:12:08,679 --> 00:12:10,520 Speaker 2: spillover effect in the cities like yours? 255 00:12:10,600 --> 00:12:15,000 Speaker 5: Of course it has a spillover effect. Bipartisan Infrastructure Bill, 256 00:12:15,960 --> 00:12:20,400 Speaker 5: President Biden's ARP program, the Chips Act, the Inflation Reduction Act, 257 00:12:20,520 --> 00:12:24,840 Speaker 5: These are having profound impacts government. Federal government legislation, federal 258 00:12:24,840 --> 00:12:28,120 Speaker 5: action is having profound impacts on our local economy, on 259 00:12:28,160 --> 00:12:31,840 Speaker 5: our public safety, on our housing issues, on climate, and 260 00:12:31,960 --> 00:12:35,640 Speaker 5: without those federal dollars, without that leadership, we just don't 261 00:12:35,640 --> 00:12:38,240 Speaker 5: have the resources necessary to fight back against these macro 262 00:12:38,559 --> 00:12:41,560 Speaker 5: economic problems. So what you see in DC is the 263 00:12:41,559 --> 00:12:44,680 Speaker 5: opposite of what you'll see in major American cities. It 264 00:12:44,760 --> 00:12:47,640 Speaker 5: is impossible for a mayor not to be pragmatic. It 265 00:12:47,679 --> 00:12:50,760 Speaker 5: is impossible for a mayor to be extreme. Because we 266 00:12:50,800 --> 00:12:53,560 Speaker 5: are so proximate to our citizens and so proximate to 267 00:12:53,640 --> 00:12:57,040 Speaker 5: the issues. No one cares if I'm spinning or obfuscating. 268 00:12:57,080 --> 00:12:59,400 Speaker 5: People expect a mayor to be the moral voice of 269 00:12:59,400 --> 00:13:02,600 Speaker 5: their city, to take clear, specific stands on hard issues, 270 00:13:02,840 --> 00:13:05,080 Speaker 5: and most importantly lead, and that's what we are seeing 271 00:13:05,160 --> 00:13:10,400 Speaker 5: across the country, specifically in Cincinnati on racial wealth gap inequalities, 272 00:13:10,800 --> 00:13:12,840 Speaker 5: and that's what we need to see more of in Washington, 273 00:13:12,920 --> 00:13:13,079 Speaker 5: d C. 274 00:13:13,200 --> 00:13:16,040 Speaker 2: Do you have a partner in the Biden administration. We do. 275 00:13:16,559 --> 00:13:20,280 Speaker 5: I'm very close with the Biden administration. Cincinnati recently got 276 00:13:20,320 --> 00:13:23,600 Speaker 5: the single largest federal grant in our country's history, one 277 00:13:23,600 --> 00:13:26,800 Speaker 5: point six billion dollars to redo the Brent Spence Bridge, 278 00:13:26,840 --> 00:13:29,760 Speaker 5: which is critically important to Cincinnati but also critically important 279 00:13:29,760 --> 00:13:32,920 Speaker 5: to interstate commerce. Three percent of our GDP goes over 280 00:13:33,000 --> 00:13:36,840 Speaker 5: that bridge. We're using the bipartisan Infrastructure Dollars to reconnect 281 00:13:36,920 --> 00:13:40,560 Speaker 5: historically black communities that were destroyed by the highway development 282 00:13:40,559 --> 00:13:43,679 Speaker 5: in the fifties and sixties. The Chips Act paved the 283 00:13:43,720 --> 00:13:46,880 Speaker 5: way for Intel to make a two hundred billion dollar 284 00:13:46,920 --> 00:13:50,880 Speaker 5: investment in Central Ohio, the largest semiconductor plant in our country, 285 00:13:51,400 --> 00:13:54,120 Speaker 5: and we will see a massive supply chain impact in 286 00:13:54,160 --> 00:13:58,040 Speaker 5: Cincinnati based on that investment. So across the board, we 287 00:13:58,080 --> 00:14:00,760 Speaker 5: are seeing real impacts in Cincinnati for what's going on 288 00:14:00,800 --> 00:14:01,160 Speaker 5: in DC. 289 00:14:01,400 --> 00:14:04,160 Speaker 2: We have a new pull out today Bloomberg and Morning 290 00:14:04,200 --> 00:14:07,480 Speaker 2: Consult that really makes clear the importance to which the 291 00:14:07,520 --> 00:14:10,040 Speaker 2: economy is going to factor into this election cycle coming 292 00:14:10,120 --> 00:14:12,200 Speaker 2: up here. We talk about a lot of different issues 293 00:14:12,640 --> 00:14:17,400 Speaker 2: around this campaign, from reproductive rights to student loans, but 294 00:14:17,440 --> 00:14:21,120 Speaker 2: the economy clearly rises to the top. I wonder if 295 00:14:21,160 --> 00:14:23,720 Speaker 2: you see and feel that and what the concerns are 296 00:14:23,800 --> 00:14:26,960 Speaker 2: from people who live in Cincinnati. We talk about inflation 297 00:14:27,440 --> 00:14:29,240 Speaker 2: and in the abstract, what does it mean for people 298 00:14:29,280 --> 00:14:29,840 Speaker 2: in your city. 299 00:14:30,120 --> 00:14:34,560 Speaker 5: It's a real challenge the macroeconomic factors inflation, interest rates 300 00:14:34,560 --> 00:14:37,440 Speaker 5: being so high, insurance rates being so high, construction costs 301 00:14:37,480 --> 00:14:39,800 Speaker 5: being so high. It's very, very hard to get anything 302 00:14:39,800 --> 00:14:40,800 Speaker 5: out of the ground right now. 303 00:14:40,840 --> 00:14:42,800 Speaker 2: Does that end up being a problem for Democrats? 304 00:14:43,120 --> 00:14:47,400 Speaker 5: I don't think so. No, because the Biden administration has 305 00:14:47,480 --> 00:14:51,680 Speaker 5: passed legislation to address those issues. And by passing those 306 00:14:51,800 --> 00:14:56,960 Speaker 5: pieces of legislation, Cincinnati, just our example, is seeing huge 307 00:14:57,040 --> 00:15:00,960 Speaker 5: benefits from our local economy. To even think like public safety. 308 00:15:01,640 --> 00:15:06,160 Speaker 5: President Biden's leadership getting ARP dollars into cities literally saved Cincinnati. 309 00:15:06,440 --> 00:15:08,800 Speaker 5: We would not have been able to afford to exist 310 00:15:08,840 --> 00:15:11,800 Speaker 5: as a city without those ARP dollars, and so much 311 00:15:11,800 --> 00:15:15,920 Speaker 5: of the negative rhetoric around police funding happening in Washington, 312 00:15:16,000 --> 00:15:18,160 Speaker 5: d C. Has nothing to do with the lived reality 313 00:15:18,200 --> 00:15:21,560 Speaker 5: in Cincinnati. In fact, it's President Biden and Democratic mayors 314 00:15:21,560 --> 00:15:24,080 Speaker 5: across the city that are actually funding public safety. 315 00:15:24,920 --> 00:15:26,960 Speaker 2: We're spending some time here with the Mayor off tap 316 00:15:27,040 --> 00:15:30,920 Speaker 2: pure Vall, the Democratic mayor of Cincinnati, as part of 317 00:15:30,920 --> 00:15:34,960 Speaker 2: Bloomberg's City Lab event here in Washington, d C. What 318 00:15:35,000 --> 00:15:37,200 Speaker 2: do you end up taking away from this when you 319 00:15:37,280 --> 00:15:40,920 Speaker 2: see your counterparts from cities in very different parts of 320 00:15:40,960 --> 00:15:43,720 Speaker 2: the country who are dealing with different realities. 321 00:15:44,360 --> 00:15:48,440 Speaker 5: Similar The issues are every major American city and every 322 00:15:48,920 --> 00:15:53,080 Speaker 5: Americans you're talking about as dealing with housing shortages, is 323 00:15:53,120 --> 00:15:56,200 Speaker 5: dealing with climate change, is dealing with public safety and 324 00:15:56,240 --> 00:15:59,400 Speaker 5: gun violence, and is dealing with economic development in a 325 00:15:59,440 --> 00:16:04,720 Speaker 5: really kind of uncertain economic period. Those issues are not 326 00:16:04,800 --> 00:16:09,680 Speaker 5: unique across the country. But tailoring bespoke strategies to make 327 00:16:09,720 --> 00:16:14,680 Speaker 5: an impact on your specific municipality, getting feedback from other 328 00:16:14,760 --> 00:16:18,560 Speaker 5: mayors who've tried similar things on similar issues is really 329 00:16:18,600 --> 00:16:19,560 Speaker 5: incredibly important. 330 00:16:21,400 --> 00:16:25,320 Speaker 2: As you look ahead to a time with the Speaker 331 00:16:25,360 --> 00:16:29,440 Speaker 2: of the House, maybe some funding and issuatives that go 332 00:16:29,560 --> 00:16:32,720 Speaker 2: into this new year. What's the priority for Cincinnati. You've 333 00:16:32,720 --> 00:16:36,840 Speaker 2: mentioned a housing shortage. Jenny Aren't from Fort Collins grab 334 00:16:36,920 --> 00:16:38,960 Speaker 2: that as the first issue that she mentioned as well. 335 00:16:38,960 --> 00:16:41,080 Speaker 2: What can Washington do when we have eight percent on 336 00:16:41,120 --> 00:16:42,160 Speaker 2: a thirty year mortgage. 337 00:16:42,240 --> 00:16:44,720 Speaker 5: Yeah, well, public safety will always be first, second, and 338 00:16:44,800 --> 00:16:48,520 Speaker 5: third from a priority perspective for probably most American mayors. 339 00:16:48,760 --> 00:16:51,760 Speaker 5: But I do think housing shortages is a real problem 340 00:16:51,760 --> 00:16:54,520 Speaker 5: across the country, and more and more people of view 341 00:16:54,600 --> 00:16:57,520 Speaker 5: housing as a basic service, akin to snow removal or 342 00:16:57,520 --> 00:17:01,680 Speaker 5: trash pickup or fixing potholes. Fortunately, the way our city 343 00:17:01,720 --> 00:17:05,080 Speaker 5: governments are structured, we do not have the resources that 344 00:17:05,320 --> 00:17:09,520 Speaker 5: a HUD does on the national level, and so having 345 00:17:09,560 --> 00:17:13,600 Speaker 5: the federal government take a more active role in cracking 346 00:17:13,600 --> 00:17:18,199 Speaker 5: down on institutional investors on providing more creative solutions to 347 00:17:18,280 --> 00:17:21,760 Speaker 5: rental equity. You know, the Emergency Rental Assistance Program through 348 00:17:21,880 --> 00:17:26,000 Speaker 5: ARP was wildly successful. More national legislation around that, around 349 00:17:26,080 --> 00:17:29,200 Speaker 5: access to housing and renters' rights is absolutely necessary. 350 00:17:29,280 --> 00:17:31,080 Speaker 2: I'mily glad you could join us. Nice to meet you, 351 00:17:31,119 --> 00:17:33,520 Speaker 2: Mayor Pirwall. Great you to have you with us here 352 00:17:33,680 --> 00:17:34,720 Speaker 2: on Bloomberg Radio. 353 00:17:37,840 --> 00:17:41,360 Speaker 1: You're listening to the Bloomberg Sound on podcast. Catch us 354 00:17:41,400 --> 00:17:44,520 Speaker 1: live weekdays at one Eastern on Bloomberg dot com, the 355 00:17:44,640 --> 00:17:47,720 Speaker 1: iHeartRadio app, and the Bloomberg Business App, or listen on 356 00:17:47,800 --> 00:17:49,760 Speaker 1: demand wherever you get your podcasts. 357 00:17:51,040 --> 00:17:54,840 Speaker 2: I'm Joe, Matthew and Washington. We're not in the normal location, 358 00:17:54,960 --> 00:17:57,119 Speaker 2: as you can see on YouTube. If you want to 359 00:17:57,200 --> 00:18:00,000 Speaker 2: join us, search Bloomberg Global News on YouTube. We've got 360 00:18:00,000 --> 00:18:02,640 Speaker 2: Hamra's set up here at the Waldorf Astoria in downtown 361 00:18:02,760 --> 00:18:07,000 Speaker 2: Washington for Bloomberg City Labs twenty twenty three event, gathering 362 00:18:07,320 --> 00:18:10,000 Speaker 2: mayors and innovators from around the country. It's already brought 363 00:18:10,200 --> 00:18:12,920 Speaker 2: some fascinating conversations to the program. Here is we go 364 00:18:13,000 --> 00:18:15,399 Speaker 2: to ground in towns and cities around the country that 365 00:18:15,440 --> 00:18:18,240 Speaker 2: are dealing with reality as opposed to the fantasy land 366 00:18:18,720 --> 00:18:22,800 Speaker 2: that you might describe here in Washington, DC. Now one 367 00:18:22,800 --> 00:18:26,000 Speaker 2: of the top stories today beyond the speaker race, beyond 368 00:18:26,000 --> 00:18:27,960 Speaker 2: the President's address later, and we're going to get to 369 00:18:27,960 --> 00:18:30,080 Speaker 2: those as we move through the hour. Jim Jordan not 370 00:18:30,160 --> 00:18:32,679 Speaker 2: standing for a third round as speaker, and President Biden 371 00:18:33,200 --> 00:18:35,960 Speaker 2: will address the nation from the Oval Office at eight 372 00:18:36,000 --> 00:18:39,480 Speaker 2: pm Washington time. It all comes against the backdrop of 373 00:18:39,520 --> 00:18:43,040 Speaker 2: new data, new polling data from Bloomberg and Morning Consult 374 00:18:43,080 --> 00:18:45,960 Speaker 2: that we're going to dig into with Eli Yoakley, our 375 00:18:46,000 --> 00:18:49,679 Speaker 2: colleague at Morning Consult where he's political analyst and no 376 00:18:49,720 --> 00:18:52,360 Speaker 2: stranger to this broadcast. Eli, welcome back. We can call 377 00:18:52,400 --> 00:18:54,680 Speaker 2: each other colleagues now, right because we're working on polls together. 378 00:18:54,720 --> 00:18:56,080 Speaker 2: I think that's right. 379 00:18:56,080 --> 00:18:57,840 Speaker 6: It's good to be here. You're like two blocks away 380 00:18:57,840 --> 00:18:58,600 Speaker 6: from me right now. 381 00:19:00,280 --> 00:19:02,280 Speaker 2: I love this. Come by for the crab cakes later. 382 00:19:02,320 --> 00:19:05,200 Speaker 2: I'll meet you in like an hour. Joe Biden, based 383 00:19:05,240 --> 00:19:08,200 Speaker 2: on what I'm reading here, has a bit to worry about. 384 00:19:08,200 --> 00:19:11,520 Speaker 2: And this is important, Eli, And let's start broad because 385 00:19:11,520 --> 00:19:14,639 Speaker 2: we talk about national poles just about every day, I 386 00:19:14,680 --> 00:19:17,359 Speaker 2: feel like, and they seem to mean less over time, 387 00:19:18,400 --> 00:19:22,080 Speaker 2: because not only are the samples in some cases questionable, 388 00:19:22,080 --> 00:19:23,960 Speaker 2: but we're so early and it really comes down to 389 00:19:24,000 --> 00:19:26,919 Speaker 2: battleground states and this pole does just that, as zero's 390 00:19:26,960 --> 00:19:30,080 Speaker 2: in on seven battleground states that will likely decide the 391 00:19:30,080 --> 00:19:32,400 Speaker 2: next president of the United States. And when you cut 392 00:19:32,400 --> 00:19:35,960 Speaker 2: out the noise nationally and look at these races, Joe 393 00:19:35,960 --> 00:19:38,960 Speaker 2: Biden's got some work on his hands. What do you see. 394 00:19:40,640 --> 00:19:43,080 Speaker 7: Joe Biden has a tough road ahead of him. I mean, 395 00:19:43,119 --> 00:19:45,439 Speaker 7: the national poles are telling us the same thing. These 396 00:19:45,480 --> 00:19:49,920 Speaker 7: state poles almost starved. Well, this race is much closer 397 00:19:49,960 --> 00:19:53,040 Speaker 7: than he wishes it would be. He's underwater in Arizona 398 00:19:53,240 --> 00:19:56,239 Speaker 7: and in Georgia and in Wisconsin. These states were so 399 00:19:56,400 --> 00:19:59,800 Speaker 7: important to his victory in twenty twenty and right now 400 00:20:00,119 --> 00:20:02,600 Speaker 7: losing a lot of people there. That's not where you 401 00:20:02,640 --> 00:20:04,320 Speaker 7: want to be a year af from election day. But 402 00:20:04,440 --> 00:20:06,640 Speaker 7: we are about a year from election day, and there's 403 00:20:06,720 --> 00:20:08,440 Speaker 7: time for the president to improve on some. 404 00:20:08,440 --> 00:20:13,040 Speaker 2: Of these Well, let's dig into some of the numbers 405 00:20:13,040 --> 00:20:15,920 Speaker 2: more specifically here and the issues ELI because the economy 406 00:20:16,000 --> 00:20:18,960 Speaker 2: was what was supposed to be the winning issue for 407 00:20:19,040 --> 00:20:24,240 Speaker 2: Joe Biden. Bidenomics, the Inflation Reduction Act, the Infrastructure Deal, 408 00:20:24,960 --> 00:20:28,639 Speaker 2: all of those bring lower scores for Joe Biden than 409 00:20:28,680 --> 00:20:30,120 Speaker 2: Donald Trump. Can you walk us through. 410 00:20:31,520 --> 00:20:34,200 Speaker 7: I mean, the headline figure to me was half of 411 00:20:34,320 --> 00:20:38,560 Speaker 7: voters in all of these states combined think Bidenomics has 412 00:20:38,600 --> 00:20:41,320 Speaker 7: been bad for the country's economy. 413 00:20:41,560 --> 00:20:44,760 Speaker 6: His message is not winning in these swing states where. 414 00:20:44,600 --> 00:20:45,280 Speaker 4: He needs it to be. 415 00:20:45,720 --> 00:20:47,679 Speaker 7: And that's something we've also noticed in some of our 416 00:20:47,760 --> 00:20:50,960 Speaker 7: national tracking you know, when good things happen for the economy, 417 00:20:51,160 --> 00:20:53,280 Speaker 7: voters are far less likely to hear about them than 418 00:20:53,320 --> 00:20:54,560 Speaker 7: they are the bad things. 419 00:20:54,800 --> 00:20:55,920 Speaker 6: He's got a case to make. 420 00:20:55,960 --> 00:20:58,600 Speaker 7: The problem is the voters aren't hearing about it. And 421 00:20:58,760 --> 00:21:02,480 Speaker 7: on every economy the economic issue we tested, from housing 422 00:21:02,520 --> 00:21:06,320 Speaker 7: to cost, Donald Trump has an advantage. Only about a 423 00:21:06,400 --> 00:21:10,480 Speaker 7: third voters trust Joe Biden to handle those things. He's president. 424 00:21:10,840 --> 00:21:13,439 Speaker 7: This is his problem right now. Donald Trump is not 425 00:21:13,520 --> 00:21:15,840 Speaker 7: in office, but you know, clearly over the next year 426 00:21:16,000 --> 00:21:19,360 Speaker 7: he's got to work to convince the American people that 427 00:21:19,400 --> 00:21:20,800 Speaker 7: Bidenomics is working for. 428 00:21:20,760 --> 00:21:25,679 Speaker 2: Him if it hasn't happened yet. Though we lie. I 429 00:21:25,720 --> 00:21:29,160 Speaker 2: know you're not a political strategist advising the president here, 430 00:21:29,200 --> 00:21:32,040 Speaker 2: but my goodness, I was talking to Rick Davis a 431 00:21:32,080 --> 00:21:35,760 Speaker 2: little while ago about these numbers. You can only have 432 00:21:35,800 --> 00:21:39,600 Speaker 2: so many campaign events with a hard hat and a 433 00:21:39,720 --> 00:21:41,879 Speaker 2: back ho Is that the next year for Joe Biden? 434 00:21:43,040 --> 00:21:43,280 Speaker 4: Yeah? 435 00:21:43,359 --> 00:21:44,800 Speaker 7: I mean, And part of it is, you know, the 436 00:21:44,840 --> 00:21:48,119 Speaker 7: ad spending really hasn't started yet. The President hasn't yet 437 00:21:48,160 --> 00:21:50,600 Speaker 7: made his political case to the American people. A lot 438 00:21:50,640 --> 00:21:53,000 Speaker 7: of his campaign events have been going out and raising 439 00:21:53,359 --> 00:21:56,520 Speaker 7: a lot of money. The other thing is you know, 440 00:21:56,600 --> 00:21:59,720 Speaker 7: a lot of the economic news when it's good, it's 441 00:21:59,760 --> 00:22:02,600 Speaker 7: kind of doesn't get a lot of attention. And meanwhile, 442 00:22:02,640 --> 00:22:04,880 Speaker 7: you've got a hot war in Israel, a hot war 443 00:22:04,920 --> 00:22:05,600 Speaker 7: in Ukraine. 444 00:22:06,119 --> 00:22:08,440 Speaker 6: The national media attention has focused sought on that the 445 00:22:08,520 --> 00:22:10,360 Speaker 6: American people are too. 446 00:22:10,600 --> 00:22:14,080 Speaker 7: And and still folks are going to the grocery store 447 00:22:14,119 --> 00:22:16,960 Speaker 7: and things are expensive. And so whenever you hear about 448 00:22:16,960 --> 00:22:20,120 Speaker 7: these wins of hiss, bet on chips, be it on infrastructure, 449 00:22:20,320 --> 00:22:23,600 Speaker 7: those are like long term policy victories that over time 450 00:22:23,640 --> 00:22:26,920 Speaker 7: will yield results. That doesn't do anything about gas prices 451 00:22:26,960 --> 00:22:28,120 Speaker 7: or how much it costs it by. 452 00:22:28,000 --> 00:22:28,680 Speaker 6: A gallon Milker. 453 00:22:31,520 --> 00:22:35,920 Speaker 2: Well, we can go beyond the table kitchen table issues here. 454 00:22:35,960 --> 00:22:39,320 Speaker 2: As you point out, foreign policy is a problem as well. 455 00:22:39,600 --> 00:22:43,120 Speaker 2: Trump fares better than Joe Biden on US China relations 456 00:22:43,880 --> 00:22:46,080 Speaker 2: as well as the war in Ukraine. And I don't 457 00:22:46,119 --> 00:22:48,320 Speaker 2: know how much that has to do with the fact 458 00:22:48,320 --> 00:22:50,720 Speaker 2: that Donald Trump has not been in office for this conflict. 459 00:22:51,000 --> 00:22:54,960 Speaker 2: It's not necessarily a real comparison to be made there. 460 00:22:55,000 --> 00:22:57,520 Speaker 2: But he frequently says if he were president, this never 461 00:22:57,520 --> 00:23:00,119 Speaker 2: would have happened. And if he becomes president again and 462 00:23:00,160 --> 00:23:02,280 Speaker 2: he could fix it and end this war in twenty 463 00:23:02,320 --> 00:23:03,439 Speaker 2: four hours. What do you make of that? 464 00:23:05,240 --> 00:23:07,760 Speaker 7: I think a lot of that is Donald Trump's distance 465 00:23:07,800 --> 00:23:09,119 Speaker 7: from the Oval Office at this point. 466 00:23:09,440 --> 00:23:11,480 Speaker 6: Honestly, I mean, Joe. 467 00:23:11,359 --> 00:23:14,560 Speaker 7: Biden's underwater on every issue, almost every issue we tested, 468 00:23:14,640 --> 00:23:17,879 Speaker 7: except for things like climate. I think the American people 469 00:23:18,200 --> 00:23:21,000 Speaker 7: have just a bad view of him at this moment. 470 00:23:21,440 --> 00:23:23,640 Speaker 7: And meanwhile, Donald Trump is just not getting the same 471 00:23:23,760 --> 00:23:26,560 Speaker 7: kind of attention that he used to whenever he was 472 00:23:26,600 --> 00:23:27,600 Speaker 7: in the Oval Office. 473 00:23:28,160 --> 00:23:29,160 Speaker 6: I think part of this is the. 474 00:23:29,080 --> 00:23:31,800 Speaker 7: Biden campaign will need to litigate a case against the 475 00:23:31,840 --> 00:23:34,720 Speaker 7: President on these national security issues. I think the Jack 476 00:23:34,760 --> 00:23:37,600 Speaker 7: Smith case involving the classified documents, it's a pretty clear 477 00:23:37,640 --> 00:23:39,720 Speaker 7: way of doing it. The challenge has been the president 478 00:23:39,760 --> 00:23:43,119 Speaker 7: has been afraid to touch it given the Justice Department's 479 00:23:43,160 --> 00:23:45,920 Speaker 7: involvement in it. But you have the present the for 480 00:23:46,119 --> 00:23:49,800 Speaker 7: president of classified documents down at mar Lago. That seems 481 00:23:49,840 --> 00:23:51,840 Speaker 7: like a pretty easy case to make the American people 482 00:23:52,280 --> 00:23:55,399 Speaker 7: not to trust the former president. But the challenge is 483 00:23:55,480 --> 00:23:58,640 Speaker 7: Joe Biden is overseeing now two wars and this issue 484 00:23:58,720 --> 00:23:59,639 Speaker 7: is front and center for it. 485 00:24:02,800 --> 00:24:06,040 Speaker 2: Spending time with Eli Yoakley, politics analyst at Morning Consult, 486 00:24:06,080 --> 00:24:09,080 Speaker 2: which helped us generate the poll that we're talking about 487 00:24:09,080 --> 00:24:13,439 Speaker 2: today at Bloomberg News. In these swing states, Nevada was 488 00:24:13,480 --> 00:24:16,879 Speaker 2: actually the best showing for Joe Biden among the seven 489 00:24:16,920 --> 00:24:20,919 Speaker 2: that you isolated, ELI, Is that because of organized labor 490 00:24:21,280 --> 00:24:24,240 Speaker 2: on the Las Vegas Strip or is it something I'm 491 00:24:24,240 --> 00:24:24,840 Speaker 2: not thinking of. 492 00:24:26,320 --> 00:24:27,760 Speaker 7: I think it probably a lot of that is It's 493 00:24:27,800 --> 00:24:30,760 Speaker 7: also a rather more diverse state than some of these 494 00:24:30,760 --> 00:24:34,200 Speaker 7: other states we've tested in this survey. I mean, Joe 495 00:24:34,200 --> 00:24:37,719 Speaker 7: Biden is really struggling with white voters generally, and especially 496 00:24:38,000 --> 00:24:40,440 Speaker 7: among the white working class, and that's dragging him down 497 00:24:40,560 --> 00:24:44,120 Speaker 7: both nationally and in some of these other states. Joe 498 00:24:44,119 --> 00:24:47,919 Speaker 7: Biden is still doing okay with members of labor unions 499 00:24:47,920 --> 00:24:50,640 Speaker 7: across the board. I think he has some challenges maybe 500 00:24:50,640 --> 00:24:54,080 Speaker 7: in some of these states, but clearly his attrition with 501 00:24:54,480 --> 00:24:57,359 Speaker 7: white people in the white working class generally is a 502 00:24:57,359 --> 00:24:58,160 Speaker 7: problem for him. 503 00:24:58,200 --> 00:25:01,280 Speaker 6: I mean, since twenty sixteen dollars, his. 504 00:25:01,160 --> 00:25:05,160 Speaker 7: Republican Party has made notable gains in terms of caring 505 00:25:05,200 --> 00:25:08,040 Speaker 7: about people like caring about people like me, like the 506 00:25:08,040 --> 00:25:10,840 Speaker 7: classic campaign question, and a lot of that has come 507 00:25:10,920 --> 00:25:12,879 Speaker 7: from white people, A lot of it has come from 508 00:25:13,000 --> 00:25:16,800 Speaker 7: lower earners, and a lot of these states, those people 509 00:25:17,640 --> 00:25:20,480 Speaker 7: side elections, and they're not siding with they're not signing 510 00:25:20,600 --> 00:25:21,320 Speaker 7: with Joe Biden. 511 00:25:23,680 --> 00:25:26,120 Speaker 2: Before I get to some of the other issues here, 512 00:25:26,160 --> 00:25:30,359 Speaker 2: I have to ask you about infrastructure. Donald Trump, it 513 00:25:30,520 --> 00:25:32,440 Speaker 2: was a meme, it was a joke here in town 514 00:25:32,480 --> 00:25:35,119 Speaker 2: that every week was infrastructure Week. He promised it, he 515 00:25:35,240 --> 00:25:39,320 Speaker 2: never got it done. Joe Biden made this his signature achievement. 516 00:25:39,760 --> 00:25:43,399 Speaker 2: The biggest investment in infrastructure since FDR, we were told, 517 00:25:44,119 --> 00:25:46,919 Speaker 2: and Trump has an edge on the matter of infrastructure 518 00:25:46,920 --> 00:25:49,600 Speaker 2: here as we look at the data on the terminal 519 00:25:49,640 --> 00:25:53,480 Speaker 2: forty two to thirty eight percent, how do we rationalize that? 520 00:25:53,600 --> 00:25:55,639 Speaker 2: Is it because these jobs haven't actually begun. 521 00:25:57,720 --> 00:26:00,600 Speaker 7: I think it's a long term policy victory that's a 522 00:26:00,640 --> 00:26:03,160 Speaker 7: while for voters to see. And I also just think 523 00:26:03,200 --> 00:26:06,560 Speaker 7: Joe Biden is getting dogged down by people not liking him. 524 00:26:06,600 --> 00:26:09,040 Speaker 7: I think they've got a lot of bombs about his age, 525 00:26:09,359 --> 00:26:11,320 Speaker 7: and they've got a lot of qualms about the economy, 526 00:26:11,520 --> 00:26:13,439 Speaker 7: and so you ask them about just about anything, and 527 00:26:13,480 --> 00:26:15,879 Speaker 7: he gets negative views from the American people and these 528 00:26:15,880 --> 00:26:17,159 Speaker 7: swing state voters we talked to. 529 00:26:21,720 --> 00:26:25,280 Speaker 2: Let's talk about demographics for a moment, Eli, Joe Biden 530 00:26:25,320 --> 00:26:29,560 Speaker 2: still has one point of strength here that Donald Trump 531 00:26:29,720 --> 00:26:33,600 Speaker 2: could be envious of, and that's female voters. Could women 532 00:26:33,720 --> 00:26:34,640 Speaker 2: save his campaign? 533 00:26:36,240 --> 00:26:37,960 Speaker 6: I think they could. I think that that's what we 534 00:26:38,040 --> 00:26:39,480 Speaker 6: saw in twenty twenty two. 535 00:26:39,560 --> 00:26:41,080 Speaker 7: I mean, part of what we might be seeing in 536 00:26:41,119 --> 00:26:45,119 Speaker 7: this election cycle is another setup of the circumstances we 537 00:26:45,200 --> 00:26:48,080 Speaker 7: saw in the midterm elections. Voters talk a lot about 538 00:26:48,080 --> 00:26:51,399 Speaker 7: the economy, but there's also other issues on their minds, 539 00:26:51,680 --> 00:26:54,240 Speaker 7: and the abortion issue is one where Joe Biden has 540 00:26:54,280 --> 00:26:58,240 Speaker 7: a slight advantage over Donald Trump. It's one that has 541 00:26:58,320 --> 00:27:00,000 Speaker 7: clearly excited. 542 00:26:59,520 --> 00:27:02,200 Speaker 6: The Democrat at a base. But he's got to fix 543 00:27:02,240 --> 00:27:03,280 Speaker 6: this economy issue. 544 00:27:03,359 --> 00:27:07,520 Speaker 7: I mean, in our survey we did together, women notice 545 00:27:07,560 --> 00:27:09,760 Speaker 7: this a lot more and the cost, the cost thing 546 00:27:09,840 --> 00:27:12,879 Speaker 7: hits them hard. There's been political science studies on this 547 00:27:13,000 --> 00:27:16,440 Speaker 7: that you women notice the price of groceries because they're 548 00:27:16,480 --> 00:27:18,840 Speaker 7: often the ones doing the grocery shopping. This is this 549 00:27:18,880 --> 00:27:20,840 Speaker 7: is clearly weighing on him. He should be doing better 550 00:27:20,840 --> 00:27:23,720 Speaker 7: with them than he is today. 551 00:27:24,680 --> 00:27:28,399 Speaker 2: Well, when you say fix this, the White House would say, hey, 552 00:27:28,400 --> 00:27:31,680 Speaker 2: look we've got the strongest job market in history. We've 553 00:27:31,720 --> 00:27:34,800 Speaker 2: come out of the hole with COVID, We've brought inflation down, 554 00:27:34,840 --> 00:27:36,879 Speaker 2: albeit not all the way to the Fed's target. What 555 00:27:36,920 --> 00:27:38,040 Speaker 2: else do you want us to fix? 556 00:27:39,600 --> 00:27:42,800 Speaker 6: It's costs. I mean, it's the cost of everyday goods 557 00:27:43,359 --> 00:27:44,400 Speaker 6: is just dragging down. 558 00:27:44,600 --> 00:27:46,640 Speaker 2: So it's finishing the job on inflation. 559 00:27:47,600 --> 00:27:50,280 Speaker 7: It is finishing the job on inflation. And look, he's 560 00:27:50,520 --> 00:27:53,359 Speaker 7: seen some good numbers. I think last week's report was 561 00:27:53,359 --> 00:27:56,160 Speaker 7: a good report for the president. But who was talking 562 00:27:56,160 --> 00:27:59,200 Speaker 7: about the inflation report last week? We were all talking 563 00:27:59,240 --> 00:28:02,360 Speaker 7: about Israel and Hamas and some of us were talking 564 00:28:02,400 --> 00:28:06,200 Speaker 7: about the speaker's phrase in Washington, which is really not breaking. 565 00:28:05,960 --> 00:28:07,080 Speaker 6: Through to the American people. 566 00:28:08,520 --> 00:28:10,639 Speaker 7: The good news that Joe Biden has seen on the 567 00:28:10,640 --> 00:28:13,720 Speaker 7: economy just isn't breaking through to the American people. That's 568 00:28:13,840 --> 00:28:15,719 Speaker 7: incumbent on his campaign with all of the money they 569 00:28:15,800 --> 00:28:17,600 Speaker 7: raised to try to tell that story next year. 570 00:28:21,400 --> 00:28:23,679 Speaker 2: What are the surprises for you? Here? Were they? The 571 00:28:23,720 --> 00:28:25,879 Speaker 2: top line numbers? He like you do this for a living? 572 00:28:26,119 --> 00:28:29,199 Speaker 2: Is that a lot of these numbers surprised many of us, 573 00:28:29,200 --> 00:28:31,159 Speaker 2: But for a Polster, what was unexpected? 574 00:28:32,440 --> 00:28:36,040 Speaker 7: I think I was surprised to see him actually underwater 575 00:28:36,240 --> 00:28:38,240 Speaker 7: in some of these states like Arizona and Georgia. 576 00:28:38,280 --> 00:28:41,080 Speaker 6: We knew he wasn't popular there, but we hadn't. 577 00:28:40,800 --> 00:28:44,040 Speaker 7: Really dug much into the numbers in terms of the 578 00:28:44,080 --> 00:28:46,680 Speaker 7: head to head contests with President Trump. 579 00:28:47,000 --> 00:28:48,720 Speaker 6: The other thing is, in this survey and all these. 580 00:28:48,600 --> 00:28:53,040 Speaker 7: States we tested third party contenders generally just going to 581 00:28:53,080 --> 00:28:56,280 Speaker 7: be saw that the margins really didn't change between Joe 582 00:28:56,320 --> 00:28:59,520 Speaker 7: Biden and Donald Trump. It seemed that maybe Biden took 583 00:28:59,560 --> 00:29:02,000 Speaker 7: more of a hit, but in terms of the distance 584 00:29:02,040 --> 00:29:06,240 Speaker 7: between him and the president generally maybe with the exception 585 00:29:06,320 --> 00:29:11,160 Speaker 7: of Nevada, actually it did not change things dramatically in 586 00:29:11,200 --> 00:29:12,600 Speaker 7: his standing against Donald Trump. 587 00:29:14,280 --> 00:29:16,600 Speaker 2: Well, that's fascinating because you don't need me to tell 588 00:29:16,640 --> 00:29:18,600 Speaker 2: you that people are working overtime and spending a lot 589 00:29:18,600 --> 00:29:21,280 Speaker 2: of money to try to prevent a no labels candidate, 590 00:29:21,800 --> 00:29:25,360 Speaker 2: for instance, from running, suggesting that that could make the 591 00:29:25,400 --> 00:29:29,160 Speaker 2: difference in a state like Georgio. Cornell West could even 592 00:29:29,200 --> 00:29:31,920 Speaker 2: were told, make the difference in a state like Georgia, 593 00:29:32,200 --> 00:29:34,040 Speaker 2: where it could be down to two percent. You don't 594 00:29:34,040 --> 00:29:36,000 Speaker 2: see it that way, then this poll does not support that. 595 00:29:37,720 --> 00:29:38,480 Speaker 6: You don't need much. 596 00:29:38,520 --> 00:29:40,960 Speaker 7: I mean, that's the thing here is in these surveys, 597 00:29:41,720 --> 00:29:46,040 Speaker 7: one point matters. I mean, ask President Hillary Clinton how 598 00:29:46,120 --> 00:29:49,280 Speaker 7: Michigan and Wisconsin went for her. The good news for 599 00:29:49,560 --> 00:29:53,640 Speaker 7: President Biden here is where he's struggling the most is 600 00:29:53,680 --> 00:29:58,480 Speaker 7: among his former supporters from twenty twenty. He lacks the 601 00:29:58,480 --> 00:30:01,760 Speaker 7: backing of about fourteen of them, compared to only nine 602 00:30:01,800 --> 00:30:05,400 Speaker 7: percent of the attrition Donald Trump has seen since twenty twenty. 603 00:30:05,600 --> 00:30:07,440 Speaker 7: He has a chance to win these folks back, and 604 00:30:07,440 --> 00:30:09,200 Speaker 7: he has a story to tell. He just needs to 605 00:30:09,240 --> 00:30:11,080 Speaker 7: be able to sell it to the people, and especially 606 00:30:11,160 --> 00:30:13,120 Speaker 7: the people who voted for him last time. And maybe 607 00:30:13,120 --> 00:30:15,480 Speaker 7: Donald Trump will help as we get out of the 608 00:30:15,480 --> 00:30:20,200 Speaker 7: Republican primary phase, he takes center stage and President Biden's 609 00:30:20,240 --> 00:30:24,800 Speaker 7: able to revive some of the same dynamics from twenty twenty. 610 00:30:25,880 --> 00:30:28,080 Speaker 2: So give me the grain of salt in Eli Yoakley 611 00:30:28,160 --> 00:30:30,400 Speaker 2: before you leave us. How much are these numbers going 612 00:30:30,440 --> 00:30:32,040 Speaker 2: to change in the next six months? What could they 613 00:30:32,080 --> 00:30:35,760 Speaker 2: look like between now and actual election day. 614 00:30:35,960 --> 00:30:37,560 Speaker 7: Well, there's a good chunk of voters in all of 615 00:30:37,560 --> 00:30:41,160 Speaker 7: these states, you know, about six to eleven percent who 616 00:30:41,240 --> 00:30:44,480 Speaker 7: said they don't know who they're supporting, and so that 617 00:30:44,520 --> 00:30:47,040 Speaker 7: could make or break either side of this equation for 618 00:30:47,080 --> 00:30:47,960 Speaker 7: either of these contenders. 619 00:30:47,960 --> 00:30:49,920 Speaker 6: Because these numbers are so close. 620 00:30:49,760 --> 00:30:52,920 Speaker 7: When you look at the national contests the race is 621 00:30:53,000 --> 00:30:55,960 Speaker 7: neck and neck. A lot of folks are still sitting 622 00:30:55,960 --> 00:30:56,479 Speaker 7: on the sideline. 623 00:30:57,200 --> 00:30:57,880 Speaker 6: The thing I'll be. 624 00:30:57,840 --> 00:31:01,360 Speaker 7: Watching over the next year between now an election day, 625 00:31:01,760 --> 00:31:04,240 Speaker 7: it is the Democratic enthusiasm number. 626 00:31:04,480 --> 00:31:07,960 Speaker 6: Clearly that clearly Joe Biden has an enthusiasm problem. 627 00:31:08,040 --> 00:31:10,480 Speaker 7: I think the question for him and his campaign is 628 00:31:10,520 --> 00:31:12,280 Speaker 7: whether running against Donald Trump again. 629 00:31:13,040 --> 00:31:16,040 Speaker 6: We'll allow him to fix that problem. You'll revive his 630 00:31:16,160 --> 00:31:17,080 Speaker 6: twenty twenty base. 631 00:31:20,560 --> 00:31:23,120 Speaker 2: We've got a lot to learn and sometime to learn it. Eli, 632 00:31:23,200 --> 00:31:24,880 Speaker 2: thank you for sharing time with us. This is going 633 00:31:24,960 --> 00:31:26,640 Speaker 2: to be monthly, right, You're going to come back every 634 00:31:26,640 --> 00:31:31,440 Speaker 2: month and talk to us about the latest data. Absolutely, 635 00:31:34,040 --> 00:31:37,000 Speaker 2: I think you're not getting away without it. Eli, Thank you, 636 00:31:37,040 --> 00:31:41,480 Speaker 2: Eli Yoakley. Political analysts that morning consult find this poll. 637 00:31:41,560 --> 00:31:44,200 Speaker 2: You can dig through all the crosstabs Bloomberg dot Com. 638 00:31:44,200 --> 00:31:46,560 Speaker 2: Find it on the terminal as well with some really 639 00:31:46,600 --> 00:31:50,280 Speaker 2: interesting and in some cases counterintuitive findings from the campaign trail. 640 00:31:51,480 --> 00:31:54,880 Speaker 1: You're listening to The Bloomberg Sound on podcast. Catch the 641 00:31:54,880 --> 00:31:58,760 Speaker 1: program live weekdays at one Eastern on Bloomberg Radio, the 642 00:31:58,840 --> 00:32:02,400 Speaker 1: tune in app Bloomberg, and the Bloomberg Business app. You 643 00:32:02,440 --> 00:32:05,680 Speaker 1: can also listen live on Amazon Alexa from our flagship 644 00:32:05,760 --> 00:32:11,520 Speaker 1: New York station, Just Say Alexa play Bloomberg eleven thirty. 645 00:32:11,760 --> 00:32:15,040 Speaker 2: Live from Bloomberg City Lab twenty twenty three event at 646 00:32:15,040 --> 00:32:17,640 Speaker 2: the Waldorf Downtown. We're not in studio, as you can 647 00:32:17,680 --> 00:32:20,640 Speaker 2: see if you're with us on YouTube search Bloomberg Global News. 648 00:32:20,680 --> 00:32:23,400 Speaker 2: I'm Joe Matthew in Washington, and we do have some 649 00:32:23,440 --> 00:32:25,920 Speaker 2: breaking news from Capitol Hill. We've been following this all day. 650 00:32:25,920 --> 00:32:29,280 Speaker 2: Bloomberg'skaylee Lines reporting now that the Republican conference meeting in 651 00:32:29,320 --> 00:32:31,960 Speaker 2: the House has ended and we still have no idea 652 00:32:31,960 --> 00:32:34,320 Speaker 2: what happens from here. Jim Jordan apparently will not stand 653 00:32:34,320 --> 00:32:36,600 Speaker 2: for a third vote, at least not today, and there 654 00:32:36,600 --> 00:32:38,800 Speaker 2: are a lot of questions about what happens to Patrick 655 00:32:38,880 --> 00:32:43,160 Speaker 2: McHenry and potential enhancement of powers there. Will keep you 656 00:32:43,240 --> 00:32:47,360 Speaker 2: posted as we learn more about it, because this is 657 00:32:47,400 --> 00:32:50,560 Speaker 2: a conversation we're having today that's going to be resonating 658 00:32:50,920 --> 00:32:54,760 Speaker 2: for some time. I don't know if it's resonating in Scranton, Pennsylvania, 659 00:32:55,040 --> 00:32:57,040 Speaker 2: but we'll find out right now because we're joined by 660 00:32:57,080 --> 00:32:59,280 Speaker 2: the mayor, Paige Cognetti. It's great to see you. Thank 661 00:32:59,320 --> 00:33:01,120 Speaker 2: you so much for Joe us here at City Lab 662 00:33:01,120 --> 00:33:01,720 Speaker 2: on Bloomberg. 663 00:33:01,760 --> 00:33:03,160 Speaker 8: Thanks for having me. It's great to be here. 664 00:33:03,360 --> 00:33:05,080 Speaker 2: We'll get to all that stuff. Of course. The son 665 00:33:05,120 --> 00:33:07,000 Speaker 2: of Scranton, we hear about so often, is going to 666 00:33:07,000 --> 00:33:09,720 Speaker 2: be in everyone's living room tonight with an oval office address. 667 00:33:10,160 --> 00:33:12,840 Speaker 2: Do you love hearing that? When Joe Biden says Scranton 668 00:33:13,280 --> 00:33:15,680 Speaker 2: as his hometown even though he's lived in Delaware for 669 00:33:15,720 --> 00:33:17,280 Speaker 2: so long. Is that good for business? 670 00:33:17,520 --> 00:33:20,000 Speaker 8: Absolutely? He is the son of Scranton. You walk down 671 00:33:20,000 --> 00:33:22,120 Speaker 8: the street, you're going to meet somebody. If you asked 672 00:33:22,160 --> 00:33:25,640 Speaker 8: everyone whose mother's or uncle's funeral he attended. In the 673 00:33:25,680 --> 00:33:28,280 Speaker 8: last forty years, he has always come back to Scranton. 674 00:33:28,320 --> 00:33:28,760 Speaker 7: He really is. 675 00:33:28,880 --> 00:33:31,800 Speaker 2: So he's helped to nurture those ties. 676 00:33:32,080 --> 00:33:34,600 Speaker 8: Throughout from the very moment he left me. He really 677 00:33:34,800 --> 00:33:37,240 Speaker 8: his status Scrantonian. So yeah, he makes it easy on 678 00:33:37,320 --> 00:33:39,040 Speaker 8: us when people ask, how is he really from scratch 679 00:33:39,160 --> 00:33:41,400 Speaker 8: making yes, the answer is yes, go down the street next. 680 00:33:41,440 --> 00:33:43,800 Speaker 2: Well, he always drops his address in his old address 681 00:33:43,800 --> 00:33:45,240 Speaker 2: when he was a kid in the stump speech. I 682 00:33:45,240 --> 00:33:47,480 Speaker 2: know that's part of the deal here. So let's talk 683 00:33:47,480 --> 00:33:50,000 Speaker 2: about issues for a moment, because you're here dealing with 684 00:33:50,160 --> 00:33:52,920 Speaker 2: reality and that's kind of been the theme of our program. 685 00:33:53,080 --> 00:33:55,800 Speaker 2: Mayors don't have the luxury of fooling around the way 686 00:33:55,880 --> 00:33:58,360 Speaker 2: lawmakers in Washington do, and so here you are to 687 00:33:58,400 --> 00:34:00,720 Speaker 2: the rescue. I guess we can say, dealing with a 688 00:34:00,720 --> 00:34:03,360 Speaker 2: lot of the same issues that we're talking about here 689 00:34:03,400 --> 00:34:07,240 Speaker 2: in Washington, from inflation to reproductive rights, a lot of 690 00:34:07,240 --> 00:34:09,480 Speaker 2: the things that voters are going to make their decisions 691 00:34:09,560 --> 00:34:12,880 Speaker 2: based on in the next year. We're just scrant and 692 00:34:12,920 --> 00:34:15,720 Speaker 2: fall there, and let's start with the issue of inflation. 693 00:34:15,840 --> 00:34:18,239 Speaker 2: We have a new Bloomberg poll out today showing the 694 00:34:18,280 --> 00:34:20,440 Speaker 2: economy is going to still be no matter what you think, 695 00:34:20,480 --> 00:34:23,080 Speaker 2: the number one issue in this campaign. Do you hear 696 00:34:23,120 --> 00:34:27,759 Speaker 2: about high prices, about high costs, about gasoline now to 697 00:34:27,800 --> 00:34:29,319 Speaker 2: the extent that you may have for a year. 698 00:34:29,239 --> 00:34:32,200 Speaker 8: Ago, We don't hear as much as a year ago. 699 00:34:32,280 --> 00:34:34,160 Speaker 8: But I think that's in part because people have gotten 700 00:34:34,200 --> 00:34:36,600 Speaker 8: accustomed to some of these higher prices. Food prices have 701 00:34:36,680 --> 00:34:39,640 Speaker 8: gone down, thankfully, that was really rough last year. Right now, 702 00:34:39,680 --> 00:34:42,040 Speaker 8: though we've had we've seen water and sewer increases in 703 00:34:42,080 --> 00:34:44,800 Speaker 8: Scranton that are unsustainable for a lot of our families. 704 00:34:44,840 --> 00:34:47,800 Speaker 8: So that is very much on people's minds at the city. 705 00:34:47,840 --> 00:34:50,000 Speaker 8: We've tried to do what we can to keep those 706 00:34:50,040 --> 00:34:52,960 Speaker 8: issues out in front. We've used our Rescue Plan money 707 00:34:53,200 --> 00:34:55,600 Speaker 8: to do things like our Wage boost program, where we 708 00:34:55,680 --> 00:34:59,279 Speaker 8: help small businesses increase their wages for their employees to 709 00:34:59,320 --> 00:35:02,320 Speaker 8: where the market. So let's say you're paying a factory 710 00:35:02,320 --> 00:35:05,200 Speaker 8: line worker fourteen dollars, but that Pennsylvania average is eighteen. 711 00:35:05,360 --> 00:35:07,080 Speaker 8: We're going to pay you that four dollars. We're gonna 712 00:35:07,080 --> 00:35:08,839 Speaker 8: give you that four dollars to for the first year. 713 00:35:09,000 --> 00:35:10,960 Speaker 8: We're gonna split the difference with you the second year. 714 00:35:11,239 --> 00:35:12,960 Speaker 8: Just need you to guarantee in the third year that 715 00:35:13,120 --> 00:35:15,280 Speaker 8: you're going to keep that wage at that higher level. 716 00:35:15,320 --> 00:35:17,600 Speaker 8: So we're trying to do some tailored programming in the 717 00:35:17,640 --> 00:35:19,840 Speaker 8: City of Scranton to help people meet those costs and 718 00:35:19,880 --> 00:35:21,279 Speaker 8: help keep our small businesses alive. 719 00:35:21,360 --> 00:35:24,880 Speaker 2: We've spoken to your counterparts from Cincinnati to Fort Collins 720 00:35:24,880 --> 00:35:28,160 Speaker 2: to Allentown not too far away. I suppose over the 721 00:35:28,200 --> 00:35:29,759 Speaker 2: last couple of hours and ask them, you know, what 722 00:35:29,800 --> 00:35:32,600 Speaker 2: are the issues that people are talking to you about 723 00:35:32,600 --> 00:35:34,880 Speaker 2: the most, that you're most concerned with. And there's been 724 00:35:34,920 --> 00:35:39,320 Speaker 2: a steady theme housing. Housing shortage is scranting any different. 725 00:35:39,760 --> 00:35:42,080 Speaker 8: It is absolutely the top set now. 726 00:35:41,920 --> 00:35:43,640 Speaker 2: On a thirty year mortgage, and you don't have enough 727 00:35:43,680 --> 00:35:44,120 Speaker 2: places to. 728 00:35:44,120 --> 00:35:46,640 Speaker 8: Live, right, And we're continuing to see our real estate 729 00:35:46,680 --> 00:35:48,879 Speaker 8: transfer tax go There's still a lot of people buying 730 00:35:48,920 --> 00:35:52,040 Speaker 8: in Scranton. Our housing prices are low relative to the 731 00:35:52,080 --> 00:35:54,120 Speaker 8: rest of the country, which is a double edged sword. 732 00:35:54,200 --> 00:35:54,359 Speaker 4: Right. 733 00:35:54,600 --> 00:35:57,840 Speaker 8: It's good for our economy, it's good for our tax revenues, 734 00:35:58,080 --> 00:36:00,480 Speaker 8: but those people that are selling, I'm not sure where 735 00:36:00,520 --> 00:36:02,360 Speaker 8: they're going. And we do have a shortage of houses. 736 00:36:02,400 --> 00:36:05,000 Speaker 8: We've got you know Section eight lines that are you 737 00:36:05,120 --> 00:36:06,200 Speaker 8: eight hundred names long? 738 00:36:06,400 --> 00:36:07,840 Speaker 2: Wow, we have a lot. 739 00:36:07,640 --> 00:36:10,960 Speaker 8: Of places to go at homelessness and housing looks different 740 00:36:11,000 --> 00:36:13,080 Speaker 8: in Scranton than it might in some of West Coast cities. 741 00:36:13,360 --> 00:36:16,160 Speaker 8: You might not see it and when you drive around, 742 00:36:16,200 --> 00:36:18,560 Speaker 8: but there's a lot of people living in unsafe housing. 743 00:36:18,600 --> 00:36:20,640 Speaker 8: They might have a roof funded over their head, but 744 00:36:20,680 --> 00:36:22,400 Speaker 8: it might not be a safe place for a family 745 00:36:22,440 --> 00:36:22,680 Speaker 8: to live. 746 00:36:22,760 --> 00:36:25,080 Speaker 2: So it was Washington helping with this. Do you look 747 00:36:25,120 --> 00:36:28,000 Speaker 2: to the Governor's office, then he looks to Washington and 748 00:36:28,120 --> 00:36:29,400 Speaker 2: is anyone answering the phone? 749 00:36:29,640 --> 00:36:32,400 Speaker 8: Absolutely, And that's that's what's been so great about working 750 00:36:32,400 --> 00:36:36,080 Speaker 8: with the Biden administration and the Shapiro administration in Pennsylvania 751 00:36:36,239 --> 00:36:38,719 Speaker 8: is we have leaders in those offices and staff that 752 00:36:38,840 --> 00:36:42,120 Speaker 8: understand that we have issues. No one has the silver bullet, 753 00:36:42,120 --> 00:36:44,919 Speaker 8: but we're working together with HUD working to figure out 754 00:36:44,920 --> 00:36:47,520 Speaker 8: what those programs and those grants look like, to get 755 00:36:47,560 --> 00:36:51,399 Speaker 8: to those solutions, build those senior housing complexes, figure out 756 00:36:51,400 --> 00:36:54,200 Speaker 8: what types of development can work some scattered site where 757 00:36:54,200 --> 00:36:56,520 Speaker 8: city properties, if we can, if we can get seed 758 00:36:56,560 --> 00:36:59,200 Speaker 8: funding in there and have private developers come in and 759 00:36:59,239 --> 00:37:01,520 Speaker 8: either fix up houses or build new ones, get wrap 760 00:37:01,520 --> 00:37:05,040 Speaker 8: around services in as a full court press. But the 761 00:37:05,080 --> 00:37:08,120 Speaker 8: federal and state governments are actually working with local governments 762 00:37:08,160 --> 00:37:11,000 Speaker 8: since the Biden administration. That's been really valuable. 763 00:37:11,120 --> 00:37:13,080 Speaker 2: When you come from Scranton and you're here in the 764 00:37:13,080 --> 00:37:16,759 Speaker 2: bubble in Washington, d C. Well, part of your reality, 765 00:37:17,440 --> 00:37:19,799 Speaker 2: do we not understand? What's your message? What are you 766 00:37:19,920 --> 00:37:22,600 Speaker 2: taking people by the shoulders and telling them so? 767 00:37:23,040 --> 00:37:25,120 Speaker 8: Well, I lived here for seven years, so that is 768 00:37:25,160 --> 00:37:27,719 Speaker 8: helpful though, because I worked at the Treasury Department during 769 00:37:27,760 --> 00:37:31,080 Speaker 8: the financial crisis and I am now in Scranton's going 770 00:37:31,080 --> 00:37:34,480 Speaker 8: federal to local is helpful because I can see what 771 00:37:34,600 --> 00:37:36,799 Speaker 8: does and doesn't work. At the local level, and it's 772 00:37:36,800 --> 00:37:38,759 Speaker 8: great to be able to take it to Washington and say, 773 00:37:38,920 --> 00:37:41,239 Speaker 8: I know that your intention with this white paper, this 774 00:37:41,360 --> 00:37:45,319 Speaker 8: policy is it's right on in terms of what should be, 775 00:37:45,680 --> 00:37:47,560 Speaker 8: but I need to help walk you through what can 776 00:37:47,600 --> 00:37:50,239 Speaker 8: actually be, what a city can implement, what a small 777 00:37:50,320 --> 00:37:52,960 Speaker 8: team can implement. And we work really well, I think 778 00:37:52,960 --> 00:37:56,560 Speaker 8: as mayors with the current administration in closing those gaps 779 00:37:56,600 --> 00:38:00,680 Speaker 8: between the aspirational policy and the on the ground implication implementation. 780 00:38:00,840 --> 00:38:03,120 Speaker 2: We're spending time with the mayor of Scranton, Pennsylvania, which 781 00:38:03,120 --> 00:38:04,920 Speaker 2: you've heard about a few times on this show, the 782 00:38:04,920 --> 00:38:08,000 Speaker 2: home of, of course, the President of the United States, 783 00:38:08,000 --> 00:38:12,239 Speaker 2: Page Cognety. You've been to Washington, back to Scranton. Would 784 00:38:12,280 --> 00:38:13,400 Speaker 2: you come back to Washington. 785 00:38:14,680 --> 00:38:16,680 Speaker 8: I love it here. It's a wonderful place. But we're 786 00:38:17,760 --> 00:38:19,640 Speaker 8: very committed to scritch And my husband. 787 00:38:19,320 --> 00:38:21,279 Speaker 2: Has supposed to say, I love my job. 788 00:38:21,360 --> 00:38:23,440 Speaker 8: Right now, I love my job, Mayor, is. 789 00:38:23,440 --> 00:38:26,520 Speaker 2: The job A lot of people have a real allergy 790 00:38:26,560 --> 00:38:28,160 Speaker 2: to Washington. You don't. 791 00:38:28,400 --> 00:38:30,719 Speaker 8: You can make so much change here, but you have 792 00:38:30,760 --> 00:38:33,839 Speaker 8: to listen. And that's the point, right is you have 793 00:38:33,880 --> 00:38:36,800 Speaker 8: the ability of the federal government to give out life 794 00:38:36,880 --> 00:38:40,560 Speaker 8: changing money to cities and to families into different programs, 795 00:38:40,760 --> 00:38:42,080 Speaker 8: but you have to know how to use it and 796 00:38:42,080 --> 00:38:44,200 Speaker 8: know how to allocate it. So there's a great, very 797 00:38:44,239 --> 00:38:47,319 Speaker 8: great power to do good in Washington, but you've got 798 00:38:47,320 --> 00:38:48,839 Speaker 8: to be able to make it realistic. 799 00:38:49,000 --> 00:38:53,000 Speaker 2: Well that's right, someday, but we're someday. Okay. In the meantime, 800 00:38:53,719 --> 00:38:55,279 Speaker 2: you never stay more than two nights, right. 801 00:38:55,200 --> 00:38:57,000 Speaker 8: You get out of It's like Vegas, right, you got 802 00:38:57,040 --> 00:38:57,480 Speaker 8: to go in and out. 803 00:38:57,520 --> 00:39:00,840 Speaker 2: I heard something about that. Yes, exactly. It's wonderful to 804 00:39:00,840 --> 00:39:02,600 Speaker 2: meet you, Paige Cognetti. Thank you for being part of 805 00:39:02,600 --> 00:39:04,840 Speaker 2: Bloomberg City Lab. Are you dropping business cards for the 806 00:39:04,840 --> 00:39:05,879 Speaker 2: rest of the day or what's the plan? 807 00:39:06,000 --> 00:39:07,719 Speaker 8: Yeah, we're going to do a little bit more. I 808 00:39:07,840 --> 00:39:09,680 Speaker 8: had a meeting on the hill earlier and we'll do 809 00:39:09,960 --> 00:39:11,560 Speaker 8: a little bit more of that. Get a lobby for 810 00:39:11,600 --> 00:39:13,240 Speaker 8: the city and make sure that we get those federal 811 00:39:13,280 --> 00:39:14,440 Speaker 8: dollars as we're talking about. 812 00:39:14,520 --> 00:39:17,320 Speaker 2: Yes, of course, right, calling up old friends and old favors. 813 00:39:17,320 --> 00:39:20,359 Speaker 2: Maybe thanks for listening to the sound On podcast. Make 814 00:39:20,400 --> 00:39:23,360 Speaker 2: sure to subscribe if you haven't already, at Apple, Spotify 815 00:39:23,400 --> 00:39:25,839 Speaker 2: and anywhere else you get your podcasts, and you can 816 00:39:25,880 --> 00:39:28,879 Speaker 2: find us live every weekday from Washington, DC, at one 817 00:39:28,920 --> 00:39:33,440 Speaker 2: pm Eastern Time at bloomberg dot com.