1 00:00:04,000 --> 00:00:08,240 Speaker 1: Live from our nation's capital. This is Bloomberg Sound on 2 00:00:09,440 --> 00:00:13,600 Speaker 1: the United can never default on this legal oppel diach 3 00:00:13,960 --> 00:00:17,960 Speaker 1: to do so. We have catastrophic economic count points. We've 4 00:00:18,000 --> 00:00:20,720 Speaker 1: been way too over the line on foreign market. People 5 00:00:20,760 --> 00:00:25,880 Speaker 1: wanted greats job Floomberg sound on politics, policy and perspective 6 00:00:26,040 --> 00:00:30,000 Speaker 1: from DC's top name for sand under Palace. Leadership has 7 00:00:30,000 --> 00:00:33,519 Speaker 1: basically shown the banks to test in advance. Bulbilog in 8 00:00:33,560 --> 00:00:36,919 Speaker 1: the business community is a really good thing to do, Yes, 9 00:00:37,280 --> 00:00:43,320 Speaker 1: Schloomberg Sound on with Joe Matthew on Bloomberg Radio. But 10 00:00:43,360 --> 00:00:45,479 Speaker 1: at least we're not going to default next week. That 11 00:00:45,560 --> 00:00:49,080 Speaker 1: much I can tell you. The rest is still up 12 00:00:49,080 --> 00:00:51,560 Speaker 1: in the air. After the House passed a bill last 13 00:00:51,640 --> 00:00:54,320 Speaker 1: night to raise the debt ceiling until December. It actually 14 00:00:54,360 --> 00:00:58,680 Speaker 1: happened with unfinished business now on the Biden agenda, Infrastructure 15 00:00:58,720 --> 00:01:03,560 Speaker 1: reconciliation still stuck between moderate and progressive Democrats as today, 16 00:01:03,560 --> 00:01:06,280 Speaker 1: President Biden makes a big push to unclogged supply chain. 17 00:01:06,319 --> 00:01:08,920 Speaker 1: We'll talk about it all ahead with Representative Sherry Bustos, 18 00:01:08,959 --> 00:01:12,679 Speaker 1: Democrat from Illinois. Later we'll focus more on solving our 19 00:01:12,720 --> 00:01:15,800 Speaker 1: supply chain issues with Michael Pyle, Chief Economic Advisor to 20 00:01:15,920 --> 00:01:18,360 Speaker 1: Vice President Kamala Harris will be joining us from the 21 00:01:18,360 --> 00:01:21,560 Speaker 1: White House the panel today we have Bloomberg Politics contributor 22 00:01:21,600 --> 00:01:25,760 Speaker 1: and Republican strategist Rick Davis and Democratic strategist Max Burns, 23 00:01:25,800 --> 00:01:28,920 Speaker 1: founder of Third Degree Strategies, there with us for the hour. So, 24 00:01:29,000 --> 00:01:31,040 Speaker 1: as I mentioned, they passed the debt ceiling in the House. 25 00:01:31,080 --> 00:01:32,840 Speaker 1: That bill slowly making its way to the White House 26 00:01:32,840 --> 00:01:36,360 Speaker 1: for the President to sign even as Joe Biden convenes 27 00:01:36,440 --> 00:01:39,160 Speaker 1: a meeting on supply chains. And it was a virtual 28 00:01:39,319 --> 00:01:43,400 Speaker 1: room full today with representatives from companies like FedEx, ups 29 00:01:43,480 --> 00:01:47,559 Speaker 1: from Walmart, Target Home Depot, Samsung, plus representatives from labor 30 00:01:48,320 --> 00:01:51,800 Speaker 1: to confront the supply chain crisis beginning with bottlenecks at 31 00:01:51,800 --> 00:01:54,840 Speaker 1: our ports. And today we have some good news and 32 00:01:54,960 --> 00:01:57,800 Speaker 1: helps feed up the delivery of goods all across America 33 00:01:58,280 --> 00:02:01,760 Speaker 1: after weeks of negotiation. I'm working with my team and 34 00:02:01,840 --> 00:02:05,760 Speaker 1: with the major union retailers and freight movers the Ports 35 00:02:05,760 --> 00:02:09,000 Speaker 1: of Los Angeles. The Port of Los Angeles announced today 36 00:02:09,120 --> 00:02:12,040 Speaker 1: that it's going to be begin operating twenty four hours 37 00:02:12,040 --> 00:02:14,600 Speaker 1: a day, seven days a week the Port of l 38 00:02:14,639 --> 00:02:16,640 Speaker 1: A following the Port of Long Beach and doing so 39 00:02:16,720 --> 00:02:20,480 Speaker 1: the President says, store chains now need to help complete 40 00:02:20,480 --> 00:02:24,240 Speaker 1: the process. We need major retailers who ordered the goods, 41 00:02:24,800 --> 00:02:27,120 Speaker 1: and the freight movers who take the goods from the 42 00:02:27,160 --> 00:02:30,880 Speaker 1: ships two factories, and the stores to step up as well. 43 00:02:31,000 --> 00:02:35,200 Speaker 1: That's where we begin with Representative Sherry Busta's Democrat from Illinois. Congresswoman, 44 00:02:35,240 --> 00:02:37,200 Speaker 1: thank you for joining us, Thanks for being on the line. 45 00:02:37,240 --> 00:02:40,600 Speaker 1: I'd like to ask you about what influence, what power 46 00:02:40,720 --> 00:02:43,720 Speaker 1: government has to solve this, from the White House to 47 00:02:43,840 --> 00:02:47,160 Speaker 1: lawmakers like yourself, to motivate private enterprise to get supply 48 00:02:47,240 --> 00:02:50,480 Speaker 1: chains moving even in the midst of a labor crunch. 49 00:02:50,520 --> 00:02:53,600 Speaker 1: How do you get all these jobs filled? Well, I 50 00:02:53,800 --> 00:02:55,840 Speaker 1: think they're motivated on their own. I mean, this is 51 00:02:55,880 --> 00:02:58,799 Speaker 1: this is all economics right. I mean, their bottom line 52 00:02:58,840 --> 00:03:02,240 Speaker 1: depends on getting this right. I think what Joe Biden 53 00:03:02,280 --> 00:03:05,320 Speaker 1: did today as president, he was using his position to 54 00:03:05,480 --> 00:03:09,799 Speaker 1: convene the right people around that virtual table to make 55 00:03:09,840 --> 00:03:12,360 Speaker 1: sure that there's buy in um at the ports, to 56 00:03:12,400 --> 00:03:16,080 Speaker 1: make sure those buy in from retailers. And it is 57 00:03:16,120 --> 00:03:18,320 Speaker 1: in all of our best interests, and I do mean 58 00:03:18,360 --> 00:03:21,440 Speaker 1: all of our best best interests to be fully engaged 59 00:03:21,440 --> 00:03:23,280 Speaker 1: in this debate and getting this in the right place. 60 00:03:23,600 --> 00:03:26,280 Speaker 1: This is something that clearly affects all of us, certainly 61 00:03:26,320 --> 00:03:29,560 Speaker 1: people who live in your districts, Congresswoman, are the are 62 00:03:29,560 --> 00:03:33,040 Speaker 1: the gifts going to get there in time for the holidays? Well, 63 00:03:33,080 --> 00:03:35,640 Speaker 1: I don't know. We're we're hearing a lot about get 64 00:03:35,680 --> 00:03:39,120 Speaker 1: your Christmas presents ordered now. But but we if you 65 00:03:39,160 --> 00:03:41,680 Speaker 1: look at a congressional district like the one I represent, 66 00:03:41,800 --> 00:03:44,880 Speaker 1: it's a I'm a Democrat, but Donald Trump won this 67 00:03:44,960 --> 00:03:48,720 Speaker 1: district in twenty so it's very much a swing district. 68 00:03:49,360 --> 00:03:52,600 Speaker 1: We have close to ten thousand family farmers are family 69 00:03:52,680 --> 00:03:55,600 Speaker 1: farms in this congressional district, And so it's even things 70 00:03:55,640 --> 00:03:59,040 Speaker 1: like are we able to export our pork, which is 71 00:03:59,040 --> 00:04:01,640 Speaker 1: a major major economic driver for the part of the 72 00:04:01,640 --> 00:04:04,040 Speaker 1: country where I live, And that gets down to this 73 00:04:04,240 --> 00:04:07,760 Speaker 1: the container shortages, It gets down to not having enough 74 00:04:07,840 --> 00:04:12,960 Speaker 1: drivers to move our our pigs domestically. So it is 75 00:04:13,280 --> 00:04:15,680 Speaker 1: when I say this is the concern for all of us, 76 00:04:15,480 --> 00:04:18,800 Speaker 1: it gets down to our farmers, to our to our 77 00:04:18,839 --> 00:04:22,040 Speaker 1: retailers are small mom and pop shops and our bigger 78 00:04:22,040 --> 00:04:24,560 Speaker 1: shops like the Walmarts and the targets of the world. Well, 79 00:04:24,560 --> 00:04:27,839 Speaker 1: I guess you've become an expert on this, because obviously 80 00:04:27,880 --> 00:04:29,800 Speaker 1: everyone has to in a time like this. We're talking 81 00:04:29,839 --> 00:04:35,320 Speaker 1: about some hundred containers an additional containers that would be 82 00:04:35,320 --> 00:04:37,839 Speaker 1: moving at night throughout the rest of the year. Is 83 00:04:37,839 --> 00:04:41,240 Speaker 1: that enough to make a difference? Well, I mean, I 84 00:04:41,279 --> 00:04:44,039 Speaker 1: think that's that's part of it. But um, you know 85 00:04:44,120 --> 00:04:46,120 Speaker 1: the other thing worth noting you You started out your 86 00:04:46,160 --> 00:04:48,280 Speaker 1: questions Joe by asking, well, what can we do as 87 00:04:48,320 --> 00:04:51,800 Speaker 1: members of Congress? Again, I applaud Joe Biden for for 88 00:04:51,880 --> 00:04:55,479 Speaker 1: convening the right people today. But the American Rescue Plan 89 00:04:55,560 --> 00:04:58,800 Speaker 1: also included four billion dollars in funding to address the 90 00:04:58,839 --> 00:05:02,320 Speaker 1: supply chain issues in agriculture. All right, so so that 91 00:05:02,440 --> 00:05:05,320 Speaker 1: things like the meat packing plants that we need to 92 00:05:05,360 --> 00:05:08,039 Speaker 1: make sure that we we can process the meat that 93 00:05:08,080 --> 00:05:11,159 Speaker 1: goes there. Um. You know this this announcement of working 94 00:05:11,160 --> 00:05:15,240 Speaker 1: with major companies to deliver to deliver seven. Um, hopefully 95 00:05:15,240 --> 00:05:19,240 Speaker 1: that does ease the holiday battleneck. And you know the 96 00:05:19,240 --> 00:05:21,360 Speaker 1: deal that he brokered with the Port of Los Angeles 97 00:05:21,400 --> 00:05:23,800 Speaker 1: to keep it open seven I think those are part 98 00:05:23,800 --> 00:05:26,840 Speaker 1: of the answers. But we'll we'll have to see if 99 00:05:26,880 --> 00:05:29,240 Speaker 1: that's starting to to offer a little relief and we'll 100 00:05:29,240 --> 00:05:30,840 Speaker 1: see if there's more that we have to do. I 101 00:05:30,960 --> 00:05:32,880 Speaker 1: like to talk with you, Congresswoman, about many of the 102 00:05:32,880 --> 00:05:35,240 Speaker 1: other issues that are hanging over Capitol Hill and this 103 00:05:35,279 --> 00:05:38,479 Speaker 1: White House right now, with months now into debate over 104 00:05:38,520 --> 00:05:42,880 Speaker 1: the president's economic agenda. The bipart is an infrastructure bill, 105 00:05:42,920 --> 00:05:44,760 Speaker 1: of course, passed the Senate. It's been on the shelf 106 00:05:44,800 --> 00:05:47,080 Speaker 1: now for weeks in the House, and I know that 107 00:05:47,120 --> 00:05:51,440 Speaker 1: you're in a pitch debate. Will use the term debate 108 00:05:51,480 --> 00:05:54,360 Speaker 1: for this particular conversation to figure out what to do 109 00:05:54,440 --> 00:05:58,520 Speaker 1: with the reconciliation plan that also doesn't even include the 110 00:05:58,560 --> 00:06:01,160 Speaker 1: debt ceiling and government funding. So where to begin here? 111 00:06:01,200 --> 00:06:03,840 Speaker 1: We can almost grab onto any of these things. After 112 00:06:03,880 --> 00:06:06,839 Speaker 1: the debt ceiling passed the House. Now, what is the 113 00:06:06,880 --> 00:06:10,000 Speaker 1: most urgent priority for you? Is it passing infrastructure? We're 114 00:06:10,000 --> 00:06:15,800 Speaker 1: figuring out a longer term arrangement for government funding. Well, 115 00:06:15,839 --> 00:06:20,240 Speaker 1: I think the longer term arrangement. Look that that's something 116 00:06:20,279 --> 00:06:25,239 Speaker 1: that we just absolutely have to get right um And Frankly, 117 00:06:25,240 --> 00:06:29,160 Speaker 1: I flew out of my airport Moline, Illinois to go 118 00:06:29,240 --> 00:06:31,960 Speaker 1: back out to Washington yesterday. I'm back in Illinois today. 119 00:06:32,000 --> 00:06:34,400 Speaker 1: So it was we literally flew out from all over 120 00:06:34,440 --> 00:06:38,359 Speaker 1: the country for these for this this one vote to 121 00:06:38,440 --> 00:06:40,720 Speaker 1: make sure that we could we could pay on our 122 00:06:41,000 --> 00:06:42,960 Speaker 1: we could pay our bills, and that we don't default 123 00:06:43,000 --> 00:06:45,280 Speaker 1: on our debts. But but let me, let me just 124 00:06:45,480 --> 00:06:48,760 Speaker 1: very briefly draw a picture of what happened last night. 125 00:06:49,120 --> 00:06:52,080 Speaker 1: We had two hundred and six, two hundred and six 126 00:06:52,120 --> 00:06:55,720 Speaker 1: House Republicans who voted to default. And that's the way 127 00:06:55,760 --> 00:06:58,239 Speaker 1: I look at it. They voted to default on paying 128 00:06:58,279 --> 00:07:01,640 Speaker 1: our bills now keeping mine. They're they're trying to point 129 00:07:01,640 --> 00:07:04,320 Speaker 1: their fingers at Democrats and trying to make this partisan issue, 130 00:07:04,920 --> 00:07:08,520 Speaker 1: but um to only three percent of our debt right now. 131 00:07:08,600 --> 00:07:11,320 Speaker 1: Three percent of our debt came from the Biden administration. 132 00:07:12,040 --> 00:07:14,000 Speaker 1: And all you have to do is look back at 133 00:07:14,040 --> 00:07:19,360 Speaker 1: their idol, President Trump, where almost eight trillion dollars um 134 00:07:19,400 --> 00:07:23,360 Speaker 1: we're added to the national tab during his four year presidency. Yeah, 135 00:07:23,360 --> 00:07:25,760 Speaker 1: we spent a lot of time talking about this and 136 00:07:25,760 --> 00:07:28,000 Speaker 1: and and the past spending that it would cover. But 137 00:07:28,080 --> 00:07:31,280 Speaker 1: also it took a Republican and Mitch McConnell to actually 138 00:07:31,280 --> 00:07:33,160 Speaker 1: get a deal here to to move the ball a 139 00:07:33,160 --> 00:07:36,840 Speaker 1: little bit. Right. Well, we'll Democrats, then Congresswoman take the 140 00:07:36,840 --> 00:07:40,280 Speaker 1: ball from here. Will Democrats lift the debt ceiling or 141 00:07:40,320 --> 00:07:45,080 Speaker 1: suspended for reconciliation? You clearly cannot count on Republican votes 142 00:07:45,120 --> 00:07:48,960 Speaker 1: going forward. Now we can't count on Republican votes going forward. 143 00:07:49,000 --> 00:07:53,440 Speaker 1: And what is so ashame about this is that this 144 00:07:53,520 --> 00:07:57,559 Speaker 1: has been bipartisan. UM for every single vote up until 145 00:07:57,720 --> 00:08:01,240 Speaker 1: last night. This has always been bipartisan. And a default 146 00:08:01,280 --> 00:08:04,400 Speaker 1: means an economic recession. Think about just how serious this 147 00:08:04,520 --> 00:08:07,720 Speaker 1: is for the Republicans not to play ball with us. UM. 148 00:08:07,760 --> 00:08:10,680 Speaker 1: It means um, an economic recession. It means millions of 149 00:08:10,800 --> 00:08:14,680 Speaker 1: jobs lost. UM. So we need to what we'll we'll 150 00:08:14,680 --> 00:08:17,400 Speaker 1: get that done. Um. Whether we have to go it alone, 151 00:08:17,400 --> 00:08:19,080 Speaker 1: and it sounds like we'll have to, but we'll get 152 00:08:19,080 --> 00:08:22,640 Speaker 1: that done and and back to them. You call it 153 00:08:22,760 --> 00:08:26,160 Speaker 1: the reconciliation bill. I call it to Build back Better bill. Um. 154 00:08:26,240 --> 00:08:28,200 Speaker 1: But we have to get that done, and we have 155 00:08:28,240 --> 00:08:31,240 Speaker 1: to get infrastructure passed. You know, when when I walk 156 00:08:31,320 --> 00:08:34,280 Speaker 1: down the main streets in in my town here in 157 00:08:34,280 --> 00:08:37,880 Speaker 1: this congressional district, keep in mind that of the town's 158 00:08:38,000 --> 00:08:41,120 Speaker 1: in the district I represent, our five thousand people are fewer. 159 00:08:41,600 --> 00:08:43,920 Speaker 1: I can tell you that none of them say anything 160 00:08:43,960 --> 00:08:46,480 Speaker 1: about reconciliation. I mean, that's just not the way we 161 00:08:46,520 --> 00:08:49,120 Speaker 1: talk around here. Um. But what they do say is 162 00:08:49,160 --> 00:08:52,319 Speaker 1: that we need this bill passed. I'm wondering if that 163 00:08:53,320 --> 00:08:55,600 Speaker 1: is it more important to you to get something done 164 00:08:55,960 --> 00:08:58,280 Speaker 1: than to fulfill the three and a half trillion dollar 165 00:08:58,360 --> 00:09:01,240 Speaker 1: aim that that that that apparently is being wound down 166 00:09:01,360 --> 00:09:04,480 Speaker 1: by by moderates. Is it more important to get the 167 00:09:04,559 --> 00:09:07,720 Speaker 1: full package? So? Yes, so you'd like to bring something home. 168 00:09:08,559 --> 00:09:11,160 Speaker 1: And I asked you that knowing that the conversation we're 169 00:09:11,160 --> 00:09:14,160 Speaker 1: having about the debt ceiling, the conversation we're having about 170 00:09:14,600 --> 00:09:18,840 Speaker 1: the reconciliation plan. So much of this debate is motivated 171 00:09:18,880 --> 00:09:21,280 Speaker 1: by the perpetual campaign, isn't it. And as a former 172 00:09:21,360 --> 00:09:25,280 Speaker 1: chief of the Democratic Congressional Campaign Committee, I just wonder 173 00:09:25,320 --> 00:09:28,400 Speaker 1: what your feelings are about constantly running for re election, 174 00:09:28,480 --> 00:09:31,240 Speaker 1: not that you are personally, but the membership of the 175 00:09:31,280 --> 00:09:33,960 Speaker 1: House and not even being able to agree on on 176 00:09:34,080 --> 00:09:36,560 Speaker 1: paying our debt. How much of that has to do 177 00:09:36,600 --> 00:09:41,400 Speaker 1: with the fact that House members are constantly running for reelection. Well, 178 00:09:41,480 --> 00:09:44,120 Speaker 1: it's in our constitution that every two years, if you're 179 00:09:44,120 --> 00:09:46,000 Speaker 1: in the U. S. House of Representatives, you have to 180 00:09:46,080 --> 00:09:50,160 Speaker 1: you have to run understood. And um, so if we're 181 00:09:50,200 --> 00:09:52,560 Speaker 1: going to change that, it would take a constitutional amendment, 182 00:09:52,600 --> 00:09:55,840 Speaker 1: and I don't see that happening, but UM, look it 183 00:09:55,840 --> 00:09:59,240 Speaker 1: it is. I remember early on in my political career, 184 00:09:59,760 --> 00:10:03,280 Speaker 1: I I was running against the sitting Republican and um, 185 00:10:03,320 --> 00:10:07,320 Speaker 1: there was always this pretense of being patriotic, more patriotic 186 00:10:07,360 --> 00:10:10,680 Speaker 1: than Democrats are. And you know this phrase about always 187 00:10:10,679 --> 00:10:13,920 Speaker 1: putting country ahead a party, and and how how the 188 00:10:14,000 --> 00:10:16,280 Speaker 1: claim was that Republicans did that, that's the way they 189 00:10:16,320 --> 00:10:19,320 Speaker 1: lived their lives and Democrats didn't. And all I would 190 00:10:19,360 --> 00:10:21,839 Speaker 1: do is point out what's going on right now. Um, 191 00:10:22,080 --> 00:10:25,560 Speaker 1: it is really time and and and pastime for all 192 00:10:25,640 --> 00:10:29,320 Speaker 1: of us to put politics aside. We've got to pass 193 00:10:29,360 --> 00:10:32,520 Speaker 1: this infrastructure package. We we need it desperately. Our roads 194 00:10:32,520 --> 00:10:35,440 Speaker 1: and our bridges and our locks and dams and UM, 195 00:10:35,440 --> 00:10:39,520 Speaker 1: our infrastructure from shore to shore is crumbling. We're falling 196 00:10:39,559 --> 00:10:44,080 Speaker 1: behind um the world in our competitiveness, and so we 197 00:10:44,120 --> 00:10:46,560 Speaker 1: need to pass it and the Build Back Better Act. 198 00:10:46,880 --> 00:10:50,120 Speaker 1: There are many, many outstanding components of that. I don't 199 00:10:50,160 --> 00:10:51,839 Speaker 1: think we were not going to pass three and a 200 00:10:51,840 --> 00:10:54,440 Speaker 1: half trillion. That's just the reality is not going to happen. 201 00:10:54,760 --> 00:10:57,200 Speaker 1: So I guess the question then, is should Democrats focus 202 00:10:57,320 --> 00:11:01,080 Speaker 1: as Nancy Pelosi, the Speaker said, I'm doing fewer things, well, 203 00:11:01,640 --> 00:11:04,920 Speaker 1: or get your arms around this whole plan for less 204 00:11:04,960 --> 00:11:08,439 Speaker 1: money and for a shorter period of time. Well, I 205 00:11:07,960 --> 00:11:11,560 Speaker 1: I think what's going to happen? Um, Nancy Pelos, who 206 00:11:11,640 --> 00:11:13,280 Speaker 1: is the Speaker of the House for a reason. She 207 00:11:13,480 --> 00:11:15,640 Speaker 1: she knows how to work with all the different UH 208 00:11:16,480 --> 00:11:19,120 Speaker 1: groups within our party she and she does it very well, 209 00:11:19,120 --> 00:11:22,200 Speaker 1: and I and I trust her and I trust her 210 00:11:22,240 --> 00:11:24,400 Speaker 1: leadership that we're going to land this in a good place. 211 00:11:25,280 --> 00:11:28,960 Speaker 1: Congresswoman Sherry Bustos, we appreciate you. I think your cell 212 00:11:29,000 --> 00:11:31,079 Speaker 1: phone is a bit challenged, and so we'll let you 213 00:11:31,120 --> 00:11:34,040 Speaker 1: go with that Democrat from Illinois, many thanks to you 214 00:11:34,120 --> 00:11:35,960 Speaker 1: for the insights today. We've been trying to arrange that 215 00:11:36,040 --> 00:11:38,440 Speaker 1: conversation for a while as we get a little bit 216 00:11:38,440 --> 00:11:40,640 Speaker 1: of a peek behind the curtain here in what appears 217 00:11:40,679 --> 00:11:42,440 Speaker 1: to be kind of a dead zone. There hasn't been 218 00:11:42,480 --> 00:11:46,679 Speaker 1: any real news on the debate around infrastructure or reconciliation, 219 00:11:46,760 --> 00:11:49,920 Speaker 1: aside from some posturing over the past week or so. 220 00:11:50,000 --> 00:11:52,880 Speaker 1: We've been so focused on the debt ceiling, and we're 221 00:11:52,880 --> 00:11:55,240 Speaker 1: gonna get into this a little bit more with the panel. Next, 222 00:11:55,559 --> 00:11:59,640 Speaker 1: Bloomberg Politics contributor and Republican strategist Rick Davis coming in. 223 00:12:00,040 --> 00:12:04,080 Speaker 1: Democratic strategist Max Burns, founder of Third Degree Strategies, with 224 00:12:04,160 --> 00:12:06,600 Speaker 1: us for the hour. We'll check traffic, we'll check the 225 00:12:06,640 --> 00:12:09,560 Speaker 1: markets along the way, because that's what we do here 226 00:12:09,600 --> 00:12:12,160 Speaker 1: on sound On. Stay with us live from Washington. I'm 227 00:12:12,240 --> 00:12:23,360 Speaker 1: Joe Matthew and this is Bloomberg. This is Bloomberg sond 228 00:12:23,400 --> 00:12:30,280 Speaker 1: On with Joe Matthew on Bloomberg Radio. Hearing from Congresswoman 229 00:12:30,320 --> 00:12:33,840 Speaker 1: Bustos leads me to the headline on the terminal. Democrats 230 00:12:33,880 --> 00:12:38,839 Speaker 1: divided over how best to slice Biden's economic agenda, so 231 00:12:38,960 --> 00:12:43,520 Speaker 1: that hasn't changed. Congress isn't back the House and Senate 232 00:12:43,600 --> 00:12:47,160 Speaker 1: until next week. The panel, though, is here now, and 233 00:12:47,240 --> 00:12:49,880 Speaker 1: this is where we start with Bloomberg Politics contributor and 234 00:12:49,920 --> 00:12:54,240 Speaker 1: Republican strategist Rick Davis, Democratic strategist Max Burns, founder of 235 00:12:54,240 --> 00:12:57,840 Speaker 1: Third Degree Strategies, with us as well for the hour. Gentlemen, 236 00:12:57,880 --> 00:13:00,160 Speaker 1: thanks to both of you for being here. Rick, what 237 00:13:00,160 --> 00:13:03,320 Speaker 1: do you make of the comments from Congresswoman Bustos here 238 00:13:03,360 --> 00:13:06,720 Speaker 1: you have a Democrat not running for re election Democrat 239 00:13:06,800 --> 00:13:09,840 Speaker 1: from Illinois, from the heartland, we could say here and 240 00:13:09,880 --> 00:13:14,840 Speaker 1: weighing in on this debate to suggests that the reconciliation 241 00:13:14,920 --> 00:13:18,360 Speaker 1: plan should pass, but not necessarily at three and a 242 00:13:18,400 --> 00:13:21,440 Speaker 1: half trillion dollars. Yeah. I think that this is a 243 00:13:21,520 --> 00:13:24,079 Speaker 1: very clear indication. As you point out, here's someone who's 244 00:13:24,120 --> 00:13:27,280 Speaker 1: not trying to run for re election, already announced that 245 00:13:27,320 --> 00:13:29,680 Speaker 1: she wasn't going to go again, and and and from 246 00:13:29,679 --> 00:13:33,000 Speaker 1: a heartland district too, and and I think it sort 247 00:13:33,000 --> 00:13:36,040 Speaker 1: of portrays an interesting dilemma that Democrats have, which is 248 00:13:36,480 --> 00:13:39,680 Speaker 1: they they've not given up on the three point five 249 00:13:39,720 --> 00:13:42,360 Speaker 1: trillion dollar number. It's almost as if they have to 250 00:13:42,440 --> 00:13:44,720 Speaker 1: say that you know, oh well, you know it's still 251 00:13:44,720 --> 00:13:46,959 Speaker 1: three point five trillion, but we'll take anything we can 252 00:13:46,960 --> 00:13:49,960 Speaker 1: get between now an election day or maybe even now 253 00:13:50,040 --> 00:13:52,240 Speaker 1: until the end of the year. Um. I thought it 254 00:13:52,280 --> 00:13:54,560 Speaker 1: was striking two that she kept going back to sort 255 00:13:54,559 --> 00:13:57,000 Speaker 1: of what this should be bipartisan, we should be working 256 00:13:57,040 --> 00:13:59,240 Speaker 1: things out, mostly talking about the debt limit. But I 257 00:13:59,320 --> 00:14:03,160 Speaker 1: think her for station was generally speaking in Congress, we 258 00:14:03,280 --> 00:14:05,920 Speaker 1: don't work together anymore, and that may actually be one 259 00:14:05,960 --> 00:14:08,760 Speaker 1: of the reasons she's leaving. Well, sure, Max Burns. What's 260 00:14:08,760 --> 00:14:11,400 Speaker 1: your frustration when you listen to a back and forth 261 00:14:11,480 --> 00:14:15,439 Speaker 1: like that, Well, I think the challenges that Democrats in 262 00:14:15,520 --> 00:14:17,760 Speaker 1: a lot of ways are still focused on the symptom 263 00:14:17,960 --> 00:14:20,520 Speaker 1: and not the overall problem. And the problem is you 264 00:14:20,600 --> 00:14:25,000 Speaker 1: have a really broadly popular agenda that's stuck in Congress, 265 00:14:25,080 --> 00:14:29,240 Speaker 1: and voters, especially Democratic voters, are starting to get nervous 266 00:14:29,280 --> 00:14:33,320 Speaker 1: about Biden and Democrats ability to deliver. And that, more 267 00:14:33,400 --> 00:14:36,760 Speaker 1: than anything we've seen, is what's causing this sort of 268 00:14:36,920 --> 00:14:41,320 Speaker 1: drag on favorability, not just for Biden but for members 269 00:14:41,360 --> 00:14:45,240 Speaker 1: of Congress and the party in general. Well, so, where 270 00:14:45,240 --> 00:14:46,840 Speaker 1: do we go next week here? Or should it be 271 00:14:46,880 --> 00:14:50,400 Speaker 1: done by next week when leaders return, when lawmakers return, Rick, 272 00:14:50,440 --> 00:14:52,600 Speaker 1: You've spent enough time on Capitol Hill to get how 273 00:14:52,600 --> 00:14:55,560 Speaker 1: this works. Is this being negotiated right now while everyone's 274 00:14:55,560 --> 00:14:58,600 Speaker 1: in the so called homework period? You know, I think 275 00:14:58,600 --> 00:15:01,400 Speaker 1: there are underlying conver stations are going on. We noticed 276 00:15:01,440 --> 00:15:04,560 Speaker 1: today that the White House has uh, you know, put 277 00:15:04,600 --> 00:15:08,480 Speaker 1: together a carbon capture um provision for the budget bill. 278 00:15:08,560 --> 00:15:10,960 Speaker 1: It doesn't cover what Mansion was looking for in the 279 00:15:11,080 --> 00:15:14,480 Speaker 1: in the power sector, but it's it doesn't take much 280 00:15:14,520 --> 00:15:16,680 Speaker 1: to include it. Once you've done what they've done. So 281 00:15:17,000 --> 00:15:19,600 Speaker 1: I do think there are efforts to try and assemble 282 00:15:19,680 --> 00:15:23,600 Speaker 1: the team right. Each person has their own UH priorities 283 00:15:23,640 --> 00:15:25,320 Speaker 1: that they want, and they seem to be starting to 284 00:15:25,360 --> 00:15:29,480 Speaker 1: address those UH and and I've said a lot. No 285 00:15:30,040 --> 00:15:34,280 Speaker 1: bill UH is easier to pass the longer it hangs around. 286 00:15:34,560 --> 00:15:37,520 Speaker 1: It's it's always a time problem, and I think they're 287 00:15:37,520 --> 00:15:39,760 Speaker 1: starting to run into one, especially with the jam up 288 00:15:39,800 --> 00:15:42,920 Speaker 1: that's happening at the end of November early December, with 289 00:15:42,960 --> 00:15:44,880 Speaker 1: all these bills that are that are yet to be 290 00:15:44,920 --> 00:15:47,800 Speaker 1: acted upon. I'd like to hear from you on that, Max, 291 00:15:47,880 --> 00:15:51,320 Speaker 1: as Congresswoman Permilla Gia Paul Ways and of course the 292 00:15:51,520 --> 00:15:55,840 Speaker 1: chair of the House Progressive Caucus on her concerns, we 293 00:15:55,920 --> 00:16:00,280 Speaker 1: are saying, don't leave people behind, don't leave behind pe bowl, 294 00:16:00,400 --> 00:16:03,600 Speaker 1: families who need childcare, families who need paid leaves, don't 295 00:16:03,680 --> 00:16:06,720 Speaker 1: leave behind climate action, don't leave behind housing, don't leave 296 00:16:06,760 --> 00:16:10,440 Speaker 1: behind immigrants. That is what we are saying, Max. That's 297 00:16:10,480 --> 00:16:13,840 Speaker 1: just about every item that we've been talking about with 298 00:16:13,880 --> 00:16:17,040 Speaker 1: regard to the Reconciliation Plan. And so the big question 299 00:16:17,080 --> 00:16:19,840 Speaker 1: here is do we start to lose policies or do 300 00:16:19,920 --> 00:16:23,800 Speaker 1: we shrink the timeline here. Jaia Paul today says Progressives 301 00:16:23,840 --> 00:16:27,760 Speaker 1: are willing to discuss curbing the time that certain benefits 302 00:16:27,800 --> 00:16:30,240 Speaker 1: are offered, but they still want the full range in 303 00:16:30,280 --> 00:16:33,560 Speaker 1: the bill. And that's my sense of how this will 304 00:16:33,640 --> 00:16:37,440 Speaker 1: likely shake out. You've seen progressive at least externally, still 305 00:16:37,440 --> 00:16:41,680 Speaker 1: fighting very publicly for three point five trillion, but more importantly, 306 00:16:41,720 --> 00:16:45,360 Speaker 1: they're still talking with moderates with the White House and 307 00:16:45,440 --> 00:16:48,240 Speaker 1: the senses that somewhere between two point two and two 308 00:16:48,280 --> 00:16:53,920 Speaker 1: point five trillion might ultimately be acceptable. But barring that, uh, 309 00:16:54,240 --> 00:16:57,800 Speaker 1: there's very few programs that the Progressives are willing to 310 00:16:58,240 --> 00:17:01,440 Speaker 1: publicly be seen backing down on because they're broadly popular 311 00:17:01,480 --> 00:17:05,000 Speaker 1: with American voters. Well, that's what we hear, Rick, that's 312 00:17:05,000 --> 00:17:07,960 Speaker 1: what we hear. We also hear that Republicans love their 313 00:17:07,960 --> 00:17:11,840 Speaker 1: member of Congress, but they hate Congress as a whole. 314 00:17:12,080 --> 00:17:15,280 Speaker 1: That doesn't necessarily lead to a deal. Yeah, I agree, 315 00:17:15,440 --> 00:17:17,200 Speaker 1: And I think that one of the things that's missing 316 00:17:17,240 --> 00:17:19,960 Speaker 1: in this debate is what's it going to cost to 317 00:17:20,000 --> 00:17:23,000 Speaker 1: do this. It's gonna cost tax increases and and how 318 00:17:23,000 --> 00:17:24,880 Speaker 1: many of these Democrats are gonna want to see those 319 00:17:24,880 --> 00:17:28,280 Speaker 1: commercials in their districts? Or their states about how they 320 00:17:28,280 --> 00:17:30,879 Speaker 1: just voted for the largest tax increase in American history. 321 00:17:31,200 --> 00:17:33,240 Speaker 1: So I think one of the things they've got to 322 00:17:33,280 --> 00:17:35,960 Speaker 1: do is temper the tone. I think those things that 323 00:17:36,000 --> 00:17:38,359 Speaker 1: the Press Secretary said today probably are accurate, but they 324 00:17:38,359 --> 00:17:42,040 Speaker 1: apply to other Democrats, and they're just giving talking points 325 00:17:42,040 --> 00:17:44,679 Speaker 1: for Republicans to run against these folks, you know, in 326 00:17:44,720 --> 00:17:47,199 Speaker 1: the midterm elections. So I think that I think this 327 00:17:47,240 --> 00:17:49,920 Speaker 1: administration has got to dial down the rhetoric a little bit. 328 00:17:49,960 --> 00:17:53,679 Speaker 1: Schumer was out there, uh declaring victory before he had 329 00:17:53,720 --> 00:17:57,040 Speaker 1: had one, attacking Republicans. I mean, everybody needs to chill 330 00:17:57,080 --> 00:17:59,439 Speaker 1: out if they actually want to get a deal that 331 00:17:59,720 --> 00:18:04,560 Speaker 1: we're choirs Republican consent at least on the process. Time 332 00:18:04,600 --> 00:18:07,040 Speaker 1: to chill out. Max. One of the big questions that 333 00:18:07,080 --> 00:18:10,160 Speaker 1: I've been asking is what about the tax component here? 334 00:18:10,480 --> 00:18:12,439 Speaker 1: If it's not three and a half trillion, doesn't that 335 00:18:12,520 --> 00:18:15,520 Speaker 1: mean fewer tax hikes or smaller tax hikes to pay 336 00:18:15,560 --> 00:18:19,080 Speaker 1: for it? It does add more to the point is 337 00:18:19,080 --> 00:18:21,520 Speaker 1: that these tax programs that are used to fund this 338 00:18:21,640 --> 00:18:26,720 Speaker 1: package are also popular with voters. This threat that Republicans 339 00:18:26,760 --> 00:18:31,680 Speaker 1: will run messaging about Democrats supporting tax increases is already 340 00:18:31,720 --> 00:18:34,879 Speaker 1: happening now, and it's proving to be largely ineffective. We 341 00:18:34,920 --> 00:18:40,200 Speaker 1: saw a few survey recently that of Americans supported raising 342 00:18:40,240 --> 00:18:43,720 Speaker 1: taxes on people making over four hundred thousand dollars, and 343 00:18:43,720 --> 00:18:48,320 Speaker 1: a half of low income Republicans supported boosting corporate tax rates. 344 00:18:48,440 --> 00:18:50,360 Speaker 1: I mean, that's a win win for Democrats to keep 345 00:18:50,400 --> 00:18:52,919 Speaker 1: those numbers in mind. Max Burns Rick Davis with us 346 00:18:52,960 --> 00:18:54,879 Speaker 1: for the hour. They'll come back and we'll talk about 347 00:18:54,880 --> 00:18:59,639 Speaker 1: how this place on the campaign trail. This is Bloomberg 348 00:19:05,440 --> 00:19:10,560 Speaker 1: broadcasting live from our nation's capital, Bloomberg to New York, 349 00:19:10,640 --> 00:19:14,800 Speaker 1: Bloomberg eleven, Frio to Boston, Bloomberg one O six one 350 00:19:14,960 --> 00:19:19,160 Speaker 1: to San Francisco, Bloomberg nine six to the country Sirius 351 00:19:19,320 --> 00:19:22,800 Speaker 1: XM Channel one nine and around the globe the Bloomberg 352 00:19:22,840 --> 00:19:27,120 Speaker 1: Business app and Bloomberg Radio dot Com. This is Bloomberg 353 00:19:27,320 --> 00:19:32,919 Speaker 1: Sound On with Joe Matthew headline on the terminal. Biden 354 00:19:33,000 --> 00:19:37,680 Speaker 1: confronts supply chain crisis, stretching past his grip. You heard 355 00:19:37,760 --> 00:19:41,879 Speaker 1: his remarks live on Bloomberg Radio. Ships line up at 356 00:19:41,880 --> 00:19:44,199 Speaker 1: our ports, will talk about what was achieved today, what 357 00:19:44,280 --> 00:19:46,560 Speaker 1: was announced at the White House, what it means for 358 00:19:46,600 --> 00:19:50,320 Speaker 1: the economic recovery. Never mind your holiday shopping coming up 359 00:19:50,359 --> 00:19:54,000 Speaker 1: with Mike Pile, chief Economic Advisor to Vice President Kamala Harris, 360 00:19:54,520 --> 00:19:57,239 Speaker 1: returned to the White House Now for a conversation with 361 00:19:57,280 --> 00:20:00,880 Speaker 1: Mike Pile, chief Economic Advisor to Vice President Kamala Harris, 362 00:20:00,880 --> 00:20:03,480 Speaker 1: and his first appearance on sound on Mike, it's great 363 00:20:03,520 --> 00:20:06,119 Speaker 1: to have you today as we consider everything that we 364 00:20:06,200 --> 00:20:08,919 Speaker 1: heard from President Biden and this virtual meeting that's awfully 365 00:20:08,920 --> 00:20:11,800 Speaker 1: important to just about anyone who lives in this country 366 00:20:11,840 --> 00:20:17,000 Speaker 1: as a worker or a consumer. The announcement to open 367 00:20:17,080 --> 00:20:21,199 Speaker 1: the Port seven in l A following something similar in 368 00:20:21,280 --> 00:20:24,399 Speaker 1: Long Beach appears to be significant. Mike. The question that 369 00:20:24,440 --> 00:20:27,040 Speaker 1: we keep asking is how do we get the labor 370 00:20:27,240 --> 00:20:29,440 Speaker 1: side of this put together here? How do we have 371 00:20:29,720 --> 00:20:33,600 Speaker 1: the workers to fill all of these jobs. Well, it's 372 00:20:33,680 --> 00:20:36,399 Speaker 1: it's great to be here. Thanks for having me. You know, 373 00:20:36,960 --> 00:20:38,840 Speaker 1: I think that that was actually one of the really 374 00:20:38,880 --> 00:20:43,399 Speaker 1: important pieces of the announcements that you heard today. You know, 375 00:20:43,840 --> 00:20:47,399 Speaker 1: two ports, don't you know work by themselves. There's a 376 00:20:47,400 --> 00:20:51,440 Speaker 1: lot of other pieces of play in these supply chains. Uh, 377 00:20:51,520 --> 00:20:54,119 Speaker 1: And so we not just we didn't just get the 378 00:20:54,160 --> 00:20:56,479 Speaker 1: announcement from the Port of l A that they were 379 00:20:56,480 --> 00:20:59,399 Speaker 1: going to be open seven. You know, we also heard 380 00:20:59,440 --> 00:21:02,080 Speaker 1: from the law long shoreman who said to your question 381 00:21:02,160 --> 00:21:05,080 Speaker 1: that day's got the workers who are going to fill 382 00:21:05,080 --> 00:21:08,480 Speaker 1: those ships. And we also heard today from the big retailers, 383 00:21:08,520 --> 00:21:11,840 Speaker 1: from the big freight shippers like UPS and FedEx, saying 384 00:21:12,160 --> 00:21:14,520 Speaker 1: we're gonna make use of those nighttime hours. We're gonna 385 00:21:14,560 --> 00:21:17,440 Speaker 1: show up with trucks, we're gonna show up with with trains, 386 00:21:17,640 --> 00:21:20,680 Speaker 1: and we're gonna move goods off those ports. Uh, during 387 00:21:20,720 --> 00:21:23,680 Speaker 1: those those nighttime shift hours. It's all of those things 388 00:21:23,720 --> 00:21:27,680 Speaker 1: working together, not just the sports seven but but the union, 389 00:21:27,920 --> 00:21:31,800 Speaker 1: but the big shippers and the big retailers all working together. Uh. 390 00:21:31,920 --> 00:21:35,600 Speaker 1: That's gonna make this system for more more smoothly. And 391 00:21:35,680 --> 00:21:39,560 Speaker 1: that's really what we can do from the federal government, Kay, 392 00:21:40,040 --> 00:21:43,000 Speaker 1: the Vice President Secretary budded Ich, you know, all working 393 00:21:43,040 --> 00:21:46,560 Speaker 1: together with these stakeholders to make this happen. That's the issue, though, 394 00:21:46,600 --> 00:21:48,639 Speaker 1: is the is the retail side of this right in 395 00:21:48,680 --> 00:21:51,480 Speaker 1: the shipping side of this? Are you concerned that you 396 00:21:51,520 --> 00:21:55,120 Speaker 1: can find or not find the number of drivers, for instance, 397 00:21:55,160 --> 00:21:57,119 Speaker 1: needed to get behind the wheel of these trucks in 398 00:21:57,160 --> 00:22:02,160 Speaker 1: the overnight shifts. Yeah, we been very focused on the 399 00:22:02,600 --> 00:22:05,359 Speaker 1: issue of up trucking as well, which is why, you know, 400 00:22:05,560 --> 00:22:09,399 Speaker 1: it was so important when we convene kind of keyport 401 00:22:09,680 --> 00:22:13,800 Speaker 1: labor and business stakeholders today with the vice presidents in 402 00:22:13,840 --> 00:22:15,879 Speaker 1: the lead chair, you know, it was important that the 403 00:22:15,920 --> 00:22:19,000 Speaker 1: teamsters were there as well, because exactly to your point, 404 00:22:19,560 --> 00:22:22,240 Speaker 1: it's vital that there are the truckers there to to 405 00:22:22,359 --> 00:22:26,080 Speaker 1: get those goods off the port into the warehouse, onto 406 00:22:26,600 --> 00:22:29,600 Speaker 1: stores and consumers, and you know, the teamsters are ready 407 00:22:29,640 --> 00:22:33,520 Speaker 1: to step forward to Mike. What role is Vice President 408 00:22:33,720 --> 00:22:36,920 Speaker 1: Kamala Harris playing in this. The President obviously spoke today, 409 00:22:36,920 --> 00:22:38,920 Speaker 1: but we saw a read out on the Vice President 410 00:22:38,960 --> 00:22:43,480 Speaker 1: in that meeting as well. Yeah, exactly. I mean, first 411 00:22:43,520 --> 00:22:46,400 Speaker 1: of all, the supply chain issue is not a new 412 00:22:46,440 --> 00:22:49,520 Speaker 1: one for the presidents and the Vice president. You know, 413 00:22:49,640 --> 00:22:54,080 Speaker 1: very early on the president issue and Executive order, highlighting 414 00:22:54,119 --> 00:22:56,879 Speaker 1: issues of supply chain resilience is essential to the long 415 00:22:57,000 --> 00:23:00,399 Speaker 1: term health of the economy. The President by has out 416 00:23:00,480 --> 00:23:03,920 Speaker 1: launched the Supply Chains Dibsruptions Task Force in June to 417 00:23:03,960 --> 00:23:06,680 Speaker 1: focus on some of these short term bottlenecks. The Vice 418 00:23:06,680 --> 00:23:10,280 Speaker 1: President was in Southeast Asia and August and highlighted issues 419 00:23:10,320 --> 00:23:13,879 Speaker 1: around transportation and shipping on the Asian side and Singapore 420 00:23:13,920 --> 00:23:17,600 Speaker 1: and Vietnam, particularly around Delta, And today again she was 421 00:23:17,600 --> 00:23:20,720 Speaker 1: at the head of the table with with representatives of 422 00:23:20,800 --> 00:23:24,360 Speaker 1: the ports, with representatives of the major unions, with representatives 423 00:23:24,440 --> 00:23:28,000 Speaker 1: of the retailers, of the shippers uh and and kind 424 00:23:28,000 --> 00:23:31,800 Speaker 1: of facilitating those conversations with these private sector actors that 425 00:23:31,840 --> 00:23:34,000 Speaker 1: are responsible for that supply. She need to turn over 426 00:23:34,040 --> 00:23:36,320 Speaker 1: every stone and find out ways of getting more efficiency 427 00:23:36,320 --> 00:23:38,680 Speaker 1: out of the system. That's exactly what she's been doing 428 00:23:38,680 --> 00:23:41,399 Speaker 1: on both sides of the Pacific for the past months. 429 00:23:41,760 --> 00:23:44,160 Speaker 1: I want to step back from this meeting or summit 430 00:23:44,200 --> 00:23:46,600 Speaker 1: if we should call it that today, Mike, and just 431 00:23:46,640 --> 00:23:49,080 Speaker 1: get a sense of what's really going on here as 432 00:23:49,119 --> 00:23:51,600 Speaker 1: the wheels of government turn. Is this the White House? 433 00:23:51,680 --> 00:23:55,320 Speaker 1: Is this the administration kind of using its contacts, it's 434 00:23:55,440 --> 00:23:59,159 Speaker 1: rolodecks and it's it's powers of persuasion to try to 435 00:23:59,200 --> 00:24:02,000 Speaker 1: get all of these parties together. Or is there something 436 00:24:02,000 --> 00:24:04,680 Speaker 1: more formal that can be done using the levels of government, 437 00:24:04,800 --> 00:24:08,159 Speaker 1: using Congress to codify what was done today, Or is 438 00:24:08,160 --> 00:24:12,040 Speaker 1: this is this essentially one big handshake deal between the shippers, 439 00:24:12,119 --> 00:24:17,240 Speaker 1: the retailers in the White House, well, let's be clear, 440 00:24:17,280 --> 00:24:22,960 Speaker 1: I mean the supply chains involving sports and shipping are 441 00:24:23,040 --> 00:24:27,199 Speaker 1: really it's really a private system. Uh. And what we 442 00:24:27,240 --> 00:24:30,639 Speaker 1: can do is identify ways in which it's clogged up, 443 00:24:30,680 --> 00:24:33,520 Speaker 1: ways in which is maybe not working as smoothly as 444 00:24:33,520 --> 00:24:37,240 Speaker 1: it should, and bring together those people to try to 445 00:24:37,280 --> 00:24:40,040 Speaker 1: figure out if there's a better way. And again, that's 446 00:24:40,080 --> 00:24:42,639 Speaker 1: exactly what happened here. It wasn't just about sports going 447 00:24:42,680 --> 00:24:45,679 Speaker 1: to seven was about labor stepping forward. It was about 448 00:24:45,680 --> 00:24:47,479 Speaker 1: the shippers stepping forward and saying we're going to make 449 00:24:47,560 --> 00:24:48,920 Speaker 1: use of those hours. We're going to show up with 450 00:24:49,000 --> 00:24:51,760 Speaker 1: workers to those hours. That's going to make the difference here. 451 00:24:52,080 --> 00:24:54,320 Speaker 1: You know, I think on the legislative side, you know, 452 00:24:54,359 --> 00:24:57,480 Speaker 1: it's less about you know, using those facilitation and convening 453 00:24:57,520 --> 00:25:00,280 Speaker 1: powers and more about you know, the President's just la 454 00:25:00,359 --> 00:25:02,679 Speaker 1: of agenda when you look out over the long term, 455 00:25:02,720 --> 00:25:05,239 Speaker 1: you know, building more resilient supply chains, building a more 456 00:25:05,240 --> 00:25:08,240 Speaker 1: productive economy. You know, the infrastructure deal that the President 457 00:25:08,320 --> 00:25:12,240 Speaker 1: struck with with Republicans and Democrats and Congress, it's going 458 00:25:12,280 --> 00:25:15,400 Speaker 1: to make historic investments in ports, probably the biggest investment 459 00:25:15,920 --> 00:25:18,600 Speaker 1: in U sports, in history. That's the kind of thing 460 00:25:18,600 --> 00:25:20,640 Speaker 1: that can make a difference over the medium the long term. 461 00:25:20,840 --> 00:25:22,640 Speaker 1: But right here and the here and now the next 462 00:25:22,720 --> 00:25:25,760 Speaker 1: quarter or two, it's bringing together the private parties to 463 00:25:26,080 --> 00:25:28,560 Speaker 1: work more efficiently and to come to deals that the 464 00:25:28,640 --> 00:25:32,439 Speaker 1: otherwise couldn't. That's really, that's really the most important thing 465 00:25:32,480 --> 00:25:34,600 Speaker 1: we can do. We all know, Mike Pyle that this 466 00:25:34,680 --> 00:25:38,320 Speaker 1: is a supply and demand story here. You're dealing with 467 00:25:38,440 --> 00:25:43,000 Speaker 1: the supply situation here obviously in our supply chains, But 468 00:25:43,040 --> 00:25:46,479 Speaker 1: what about the demands that changed because of COVID, the 469 00:25:46,520 --> 00:25:49,160 Speaker 1: fact that we're shipping more stuff than ever. We're talking 470 00:25:49,200 --> 00:25:52,359 Speaker 1: more about Cyber Monday than we are about Black Friday 471 00:25:52,400 --> 00:25:55,439 Speaker 1: at this point, is that component going to change or 472 00:25:55,520 --> 00:25:58,560 Speaker 1: is it about adjusting the supply side for the long 473 00:25:58,680 --> 00:26:04,280 Speaker 1: term now that these are permanent changes. So I think 474 00:26:04,320 --> 00:26:09,200 Speaker 1: it's it's clear that you know, when the pandemic struck, uh, 475 00:26:09,359 --> 00:26:13,480 Speaker 1: it struck and changed the way that we demand goods 476 00:26:14,000 --> 00:26:18,159 Speaker 1: as well as striking the supply chains themselves. So you know, 477 00:26:18,200 --> 00:26:22,520 Speaker 1: Americans that have been demanding more goods and services and 478 00:26:22,640 --> 00:26:27,040 Speaker 1: demanding more durable goods within the universe of goods, you know, 479 00:26:27,200 --> 00:26:29,480 Speaker 1: that's continuing. You know, if you look at just that, 480 00:26:30,280 --> 00:26:33,879 Speaker 1: you know, our supply chains are processing you know, more goods, 481 00:26:34,000 --> 00:26:38,399 Speaker 1: more throughput today than ever before. But precisely because of 482 00:26:38,440 --> 00:26:42,680 Speaker 1: that shift towards goods, away from services, towards e commerce, 483 00:26:42,720 --> 00:26:45,760 Speaker 1: away from brick and mortar. You know, that's putting even 484 00:26:45,800 --> 00:26:49,359 Speaker 1: more demand on the system than than well. I's been 485 00:26:49,440 --> 00:26:51,399 Speaker 1: keeping up with you know, we think there's quite a 486 00:26:51,440 --> 00:26:53,239 Speaker 1: bit there that you know, going to be with us 487 00:26:53,240 --> 00:26:56,240 Speaker 1: for a long time. That's trends words e commerce very likely. 488 00:26:56,440 --> 00:26:58,720 Speaker 1: But at the same time, as we move ahead, probably 489 00:26:58,760 --> 00:27:01,359 Speaker 1: see some rotation back to service that people can go 490 00:27:01,480 --> 00:27:05,520 Speaker 1: to restaurants, why interact with their friends again more regularly. 491 00:27:05,720 --> 00:27:08,879 Speaker 1: It's a different world. Mike Pile, chief Economic advisor to 492 00:27:08,960 --> 00:27:12,399 Speaker 1: Vice President Kamala Harris. Don't be a stranger. We like 493 00:27:12,520 --> 00:27:14,600 Speaker 1: talking about policy and it's great to do that with 494 00:27:14,680 --> 00:27:17,919 Speaker 1: you today here on sound on up next we reassemble 495 00:27:18,000 --> 00:27:22,080 Speaker 1: the panel. I'm Joe Matthew. Stay right here. This is Bloomberg. 496 00:27:41,480 --> 00:27:50,159 Speaker 1: This is Bloomberg. So on with Joe Matthew on Bloomberg, radio, planes, trains, 497 00:27:50,200 --> 00:27:53,840 Speaker 1: and automobiles. Don't forget the ships. The story today at 498 00:27:53,840 --> 00:27:57,080 Speaker 1: the White House where they cannot afford an economic slowdown 499 00:27:57,720 --> 00:28:01,639 Speaker 1: because of supply chains. Got enough to worry about already. 500 00:28:02,400 --> 00:28:05,880 Speaker 1: Not that officials in the administration can make any real promises. 501 00:28:06,000 --> 00:28:09,760 Speaker 1: Here's White House Press Secretary Jensaki today. They are not 502 00:28:09,840 --> 00:28:13,639 Speaker 1: the Postal Service or UPS or FedEx. We cannot guarantee. 503 00:28:14,040 --> 00:28:16,800 Speaker 1: What we can do is use every lever at the 504 00:28:16,840 --> 00:28:22,439 Speaker 1: federal government disposal to reduce delays, to ensure that we 505 00:28:22,520 --> 00:28:27,840 Speaker 1: are addressing bottlenecks and the system, including uh ports and 506 00:28:28,080 --> 00:28:30,760 Speaker 1: the need for them to be open longer hours so 507 00:28:30,840 --> 00:28:33,280 Speaker 1: that goods can arrive. Let's hear from the panel on this. 508 00:28:33,320 --> 00:28:36,959 Speaker 1: Bloomberg Politics contributor and Republican strategist Rick Davis is here 509 00:28:37,000 --> 00:28:41,000 Speaker 1: along with Democratic strategist Max Burns, founder of Third Degree Strategies. 510 00:28:41,520 --> 00:28:44,440 Speaker 1: As we get back to it here, Rick, is this 511 00:28:44,520 --> 00:28:47,560 Speaker 1: good politics or or does the White House risk getting 512 00:28:47,920 --> 00:28:51,000 Speaker 1: a little bit too far over its skis knowing that 513 00:28:51,040 --> 00:28:54,040 Speaker 1: we really are dealing with what what sounds like a handshake. 514 00:28:54,080 --> 00:28:56,960 Speaker 1: This is an agreement for everyone to try to do better. Yeah. 515 00:28:56,960 --> 00:28:58,560 Speaker 1: I do think it's a proper role of the White 516 00:28:58,600 --> 00:29:02,120 Speaker 1: House to use the pulpit of the presidency to get 517 00:29:02,120 --> 00:29:05,080 Speaker 1: people to do things they otherwise wouldn't do. And of course, 518 00:29:05,080 --> 00:29:07,680 Speaker 1: as a Republican, I much prefer that than trying to 519 00:29:07,680 --> 00:29:11,120 Speaker 1: pass some regulation or get you know, some agency to 520 00:29:11,160 --> 00:29:13,840 Speaker 1: tell them what to do. So I think that's the 521 00:29:13,920 --> 00:29:16,640 Speaker 1: right role, right is to get people together and and 522 00:29:16,720 --> 00:29:18,640 Speaker 1: try to get them to work together to do this. 523 00:29:19,320 --> 00:29:21,160 Speaker 1: I guess my question would be why did they wait 524 00:29:21,200 --> 00:29:23,360 Speaker 1: till now? I mean, they know this was a problem 525 00:29:23,400 --> 00:29:26,440 Speaker 1: for a long time. They've been talking about supply Chaine 526 00:29:26,440 --> 00:29:30,400 Speaker 1: disruptions since the beginning of this administration, and now, seemingly 527 00:29:30,400 --> 00:29:34,760 Speaker 1: on the edge of the holidays, they finally focus in on, Hey, 528 00:29:34,880 --> 00:29:37,760 Speaker 1: we gotta get these bottlenecks worked out, and and and 529 00:29:37,760 --> 00:29:42,440 Speaker 1: it's their constituencies, right, it's labor unions, it's truckers, its shippers. Um. 530 00:29:42,520 --> 00:29:44,800 Speaker 1: So I'm glad they've done it, but I'm I'm worried 531 00:29:44,800 --> 00:29:46,880 Speaker 1: that it might be too little, too late. It's fair 532 00:29:46,960 --> 00:29:48,800 Speaker 1: question to ask Max Burns, and you really have been 533 00:29:48,840 --> 00:29:52,120 Speaker 1: talking about it for months, why now? There is sort 534 00:29:52,120 --> 00:29:56,520 Speaker 1: of a frustrating tendency within the Biden administration to sort 535 00:29:56,520 --> 00:30:00,600 Speaker 1: of overthink challenges and debate these things today, only to 536 00:30:00,680 --> 00:30:04,640 Speaker 1: come back to your original plan months later. And that's 537 00:30:04,640 --> 00:30:07,360 Speaker 1: a challenge that I think the Biden administration needs to 538 00:30:07,440 --> 00:30:11,640 Speaker 1: address within itself. But on the policy standpoint, I think 539 00:30:11,640 --> 00:30:14,200 Speaker 1: this is a strong policy not just as a response 540 00:30:14,200 --> 00:30:16,920 Speaker 1: to a crisis, but to sort of set up American 541 00:30:16,960 --> 00:30:20,840 Speaker 1: infrastructure to modernize into the current era and to look 542 00:30:20,880 --> 00:30:25,080 Speaker 1: beyond just solving the crisis to leaving some durable improvements. 543 00:30:25,600 --> 00:30:28,000 Speaker 1: When this is all through, well, I guess the president 544 00:30:28,040 --> 00:30:30,800 Speaker 1: will be judged on this either way. Rick, will he 545 00:30:30,840 --> 00:30:34,080 Speaker 1: be judged on whether your gifts arrive in time for 546 00:30:34,120 --> 00:30:37,120 Speaker 1: the holidays? All? I know, if I can't get the 547 00:30:37,160 --> 00:30:41,720 Speaker 1: Galactic snack and grow Goo Animatron, I'm going to be upset. Wow, 548 00:30:41,840 --> 00:30:46,200 Speaker 1: look who came ready to play? So go for you, Max? 549 00:30:46,240 --> 00:30:48,000 Speaker 1: What's on your list here? And does it matter if 550 00:30:48,080 --> 00:30:50,200 Speaker 1: it shows up on time? When it comes to the president, 551 00:30:51,600 --> 00:30:53,840 Speaker 1: I thought it would be amazing. But there are challenges 552 00:30:53,880 --> 00:30:57,480 Speaker 1: with with post Office that have predated this administration, and 553 00:30:58,040 --> 00:31:01,000 Speaker 1: those are things that are very difficult just lodge and 554 00:31:01,040 --> 00:31:04,680 Speaker 1: too to modernize. Given the way that the current postal 555 00:31:04,720 --> 00:31:08,440 Speaker 1: administrators managing things. That said, you know, you never want 556 00:31:08,440 --> 00:31:10,880 Speaker 1: to go out and have the headline be Joe Biden 557 00:31:10,920 --> 00:31:16,120 Speaker 1: cancels Christmas that's an area where I think they're they're interesting. 558 00:31:16,160 --> 00:31:18,920 Speaker 1: Being honest with the American people gets ahead of their 559 00:31:18,960 --> 00:31:21,920 Speaker 1: political sense a little bit in this case, Rick, what 560 00:31:22,040 --> 00:31:26,600 Speaker 1: is it again? The grog? What the galactic snacking grow 561 00:31:26,680 --> 00:31:29,120 Speaker 1: Goo animatron? I mean, if you don't get one of 562 00:31:29,160 --> 00:31:32,320 Speaker 1: those for your kids, you're gonna be a grinch himself. Oh, 563 00:31:32,360 --> 00:31:35,040 Speaker 1: I just I just googled. Oh look at this, God, 564 00:31:35,080 --> 00:31:37,360 Speaker 1: it's almost a hundred bucks. Yeah, you know those are 565 00:31:37,360 --> 00:31:40,160 Speaker 1: gonna be sold out. Uh, that's the the tickle Me 566 00:31:40,240 --> 00:31:42,480 Speaker 1: grow Goo will be the I guess where we're going at. 567 00:31:42,480 --> 00:31:44,200 Speaker 1: That's baby Yoda. Thank you, Matt. I should if I 568 00:31:44,200 --> 00:31:48,320 Speaker 1: should remind everyone here. Uh, this reminds me a little 569 00:31:48,320 --> 00:31:51,400 Speaker 1: bit about the conversation about energy prices. I don't know 570 00:31:51,440 --> 00:31:53,520 Speaker 1: how you feel about this, Rick. When the White House says, well, 571 00:31:53,560 --> 00:31:56,040 Speaker 1: you know what, we're gonna We're gonna make some phone 572 00:31:56,040 --> 00:31:58,200 Speaker 1: calls here. We're gonna ask O pack to pump more. 573 00:31:58,200 --> 00:31:59,920 Speaker 1: Maybe we're gonna release a little bit from the strate 574 00:32:00,000 --> 00:32:04,160 Speaker 1: Agact Petroleum Reserve. It's a it's a political move that 575 00:32:04,200 --> 00:32:06,800 Speaker 1: doesn't always result in a lot right there. You can't 576 00:32:06,840 --> 00:32:09,840 Speaker 1: do something officially. You can't order someone to do something 577 00:32:09,840 --> 00:32:12,400 Speaker 1: and to make this problem better. Yeah, I think Donald 578 00:32:12,400 --> 00:32:14,280 Speaker 1: Trump made the same mistake. You know, he was gonna 579 00:32:14,360 --> 00:32:19,120 Speaker 1: yell at the Saudias about, you know, uh, manipulating oil prices. 580 00:32:19,160 --> 00:32:21,280 Speaker 1: In the minute you do that, you now are held 581 00:32:21,320 --> 00:32:23,840 Speaker 1: hostage by the Saudis. It's a little bit of the 582 00:32:23,880 --> 00:32:26,160 Speaker 1: same thing. I mean, sometimes you just got to take 583 00:32:26,160 --> 00:32:28,680 Speaker 1: it on the chops. If if nothing happens, it doesn't 584 00:32:28,720 --> 00:32:31,920 Speaker 1: get better, you look like you've been emasculated, and and 585 00:32:31,920 --> 00:32:35,240 Speaker 1: and so I do think some of these predictives uh 586 00:32:35,280 --> 00:32:38,040 Speaker 1: trying to get into the pricing of gas, trying to 587 00:32:38,680 --> 00:32:41,040 Speaker 1: you know, ensure that the grow goose make it to 588 00:32:41,120 --> 00:32:43,920 Speaker 1: the shelf. And time you've gotta be a little careful. 589 00:32:43,920 --> 00:32:45,880 Speaker 1: That's why I like the use of the bully pulpit 590 00:32:46,040 --> 00:32:48,480 Speaker 1: right where you bring in other people to try and 591 00:32:48,520 --> 00:32:52,200 Speaker 1: get the job done. You rely on the private sector 592 00:32:52,280 --> 00:32:55,240 Speaker 1: to do their part, because because really the White House 593 00:32:55,240 --> 00:32:58,240 Speaker 1: should not be involved in whether or not Christmas happens 594 00:32:58,320 --> 00:33:01,760 Speaker 1: or not. They should be involved in building long term infrastructure. 595 00:33:02,080 --> 00:33:04,239 Speaker 1: And they've got a big fat check waiting for them 596 00:33:04,320 --> 00:33:06,400 Speaker 1: in Congress to sign. They just can't get their own 597 00:33:06,400 --> 00:33:08,920 Speaker 1: party to send it to them. Well, gosh, it's if 598 00:33:08,960 --> 00:33:11,120 Speaker 1: we're talking infrastructure here. I don't think the White House 599 00:33:11,160 --> 00:33:13,680 Speaker 1: is looking to lay new pipelines Max Burns. But when 600 00:33:13,680 --> 00:33:16,800 Speaker 1: it comes to energy prices, do you bring the CEOs 601 00:33:16,840 --> 00:33:20,000 Speaker 1: of Chevron, xn etcetera to the White House and hold 602 00:33:20,040 --> 00:33:23,240 Speaker 1: a similar kind of event. Yeah. And I think that's 603 00:33:23,240 --> 00:33:27,480 Speaker 1: a very conscious effort by Joe Biden to avoid being 604 00:33:27,520 --> 00:33:32,800 Speaker 1: seen as as coercive or using federal power to pressure businesses. 605 00:33:33,280 --> 00:33:34,920 Speaker 1: And it also makes the point, I think, to the 606 00:33:34,960 --> 00:33:39,720 Speaker 1: American public who see ads from Republicans saying that Joe 607 00:33:39,760 --> 00:33:43,880 Speaker 1: Biden hates American business and hates the economy. To see 608 00:33:43,960 --> 00:33:47,160 Speaker 1: him standing in a room with executives who clearly appear 609 00:33:47,240 --> 00:33:49,360 Speaker 1: to trust him to know what to do and trust 610 00:33:49,760 --> 00:33:52,600 Speaker 1: him enough to be there is great counter messaging to that. 611 00:33:52,960 --> 00:33:55,120 Speaker 1: But you know, as Rick said, Joe Biden is on 612 00:33:55,160 --> 00:33:59,440 Speaker 1: the line for if that does not deliver you guys 613 00:33:59,480 --> 00:34:02,920 Speaker 1: see shot there today, Rick Davis grow Goo may not 614 00:34:03,040 --> 00:34:07,480 Speaker 1: really be in space, but Captain Kirk actually went there. 615 00:34:08,120 --> 00:34:10,120 Speaker 1: And it makes you start to wonder a little bit. 616 00:34:10,960 --> 00:34:14,919 Speaker 1: As we can't get anything done in Washington, we can't 617 00:34:14,920 --> 00:34:18,719 Speaker 1: get a debt ceiling rais past December but private enterprise 618 00:34:18,840 --> 00:34:21,200 Speaker 1: is putting people in space now and what seems like 619 00:34:21,280 --> 00:34:26,920 Speaker 1: a daily basis. Yeah, watching watching Captain Kirk William Shatner 620 00:34:27,200 --> 00:34:31,720 Speaker 1: cry after landing after being in space made me cry, 621 00:34:31,760 --> 00:34:34,719 Speaker 1: and I'm not easy to cry. And so you know 622 00:34:34,840 --> 00:34:37,879 Speaker 1: that a boy ninety years old finally gets his ride 623 00:34:37,880 --> 00:34:41,000 Speaker 1: in space after probably being in space more than any 624 00:34:41,000 --> 00:34:45,319 Speaker 1: other actor in history. Uh, and it was transformational for him. 625 00:34:45,520 --> 00:34:47,160 Speaker 1: I think, what did he say? He doesn't want to 626 00:34:47,200 --> 00:34:50,120 Speaker 1: get over this moment. You know, if I were ninety 627 00:34:50,160 --> 00:34:52,440 Speaker 1: years old, I wouldn't buy green bananas. I mean, like, 628 00:34:52,640 --> 00:34:56,040 Speaker 1: you know, it's the same concept. Very good, Max, though 629 00:34:56,040 --> 00:34:58,960 Speaker 1: it doesn't it make a point that we can't figure 630 00:34:58,960 --> 00:35:01,640 Speaker 1: ourselves out. Nobody can get along in Washington. We can't 631 00:35:01,640 --> 00:35:04,000 Speaker 1: even get a debt ceiling handle, never mind the three 632 00:35:04,040 --> 00:35:07,400 Speaker 1: and a half trillion dollar reconciliation bill. But we're watching 633 00:35:07,440 --> 00:35:12,239 Speaker 1: private enterprise reinvent itself at such an incredible pace. Here 634 00:35:12,280 --> 00:35:15,080 Speaker 1: these headlines come and go. You can't even remember by 635 00:35:15,080 --> 00:35:18,799 Speaker 1: the next day what happened. This was another incredible moment. Yeah, 636 00:35:19,080 --> 00:35:22,120 Speaker 1: the desire to flee the Earth seems to be accelerating 637 00:35:22,120 --> 00:35:25,160 Speaker 1: in the market is meeting that demand. But you know, 638 00:35:25,360 --> 00:35:27,680 Speaker 1: on a serious note, you know, seeing a guy with 639 00:35:27,760 --> 00:35:32,000 Speaker 1: an ego like William Shatner's so completely humbled by that 640 00:35:32,080 --> 00:35:35,960 Speaker 1: experience and just so overwhelmed. It really does show you 641 00:35:36,000 --> 00:35:37,800 Speaker 1: that there's room for all of us, even at ninety 642 00:35:37,920 --> 00:35:40,200 Speaker 1: years old, to change our perspectives and to take in 643 00:35:40,280 --> 00:35:43,400 Speaker 1: new new experiences. So is there a takeaway, Rick, and 644 00:35:43,440 --> 00:35:47,600 Speaker 1: our remaining moment here for politics? What can Washington learn 645 00:35:48,200 --> 00:35:52,279 Speaker 1: from private companies who are reinventing themselves. Well, I think 646 00:35:52,320 --> 00:35:57,560 Speaker 1: one of the biggest disasters of government was the killing 647 00:35:57,640 --> 00:36:00,319 Speaker 1: of the space program, and one of the great things, 648 00:36:00,400 --> 00:36:03,120 Speaker 1: as Max just pointed out, of the private sector was 649 00:36:03,160 --> 00:36:05,640 Speaker 1: picking up and actually making it better. And so I 650 00:36:05,640 --> 00:36:08,239 Speaker 1: think this is a good theme. Uh. The one I 651 00:36:08,320 --> 00:36:13,000 Speaker 1: really took from Captain Kirk's landing press conference was we 652 00:36:13,080 --> 00:36:15,400 Speaker 1: have a tiny, little blue planet that's beautiful and we 653 00:36:15,400 --> 00:36:17,279 Speaker 1: should do everything we can to take care of it. 654 00:36:17,960 --> 00:36:22,920 Speaker 1: Rick Davis, Bloomberg Politics contributed Republican strategist making a smile 655 00:36:22,960 --> 00:36:25,919 Speaker 1: today along with Democratic strategist Max Burns, founder of Third 656 00:36:25,960 --> 00:36:28,879 Speaker 1: Degree Strategies. Thanks to both of you for being here. 657 00:36:29,320 --> 00:36:31,640 Speaker 1: As I see the headline on the terminal Blue Origin 658 00:36:31,719 --> 00:36:36,160 Speaker 1: blast nine year old Captain Kirk into space. Indeed, it 659 00:36:36,280 --> 00:36:40,359 Speaker 1: was an historic day today in Van Horn, Texas well. 660 00:36:40,400 --> 00:36:43,319 Speaker 1: You saw it all happen. You watched it on Bloomberg, 661 00:36:43,480 --> 00:36:49,120 Speaker 1: of course, as we made history together all over again. 662 00:36:55,400 --> 00:37:04,560 Speaker 1: Space the final frontier. These are the voyages of Blue Origin. 663 00:37:05,320 --> 00:37:08,960 Speaker 1: It's ten minute mission to send every day millionaires beyond 664 00:37:09,000 --> 00:37:12,799 Speaker 1: the Carmen line so they can face their own mortality, 665 00:37:16,120 --> 00:37:19,000 Speaker 1: to boldly go where no ninety year old man has 666 00:37:19,080 --> 00:37:27,120 Speaker 1: gone before. That man, Captain James T. Kirk, known to 667 00:37:27,239 --> 00:37:31,600 Speaker 1: most as William Shatner, landed safely with his three crew members, 668 00:37:31,840 --> 00:37:35,239 Speaker 1: as brought to tears as he described the experience to 669 00:37:35,360 --> 00:37:40,239 Speaker 1: founder Jeff Bezos, what you have given me is the 670 00:37:40,400 --> 00:37:48,560 Speaker 1: most profound experience I should I'm so filled with emotional 671 00:37:48,680 --> 00:37:52,840 Speaker 1: but what just happened, I just it's extraordinary, almost like 672 00:37:52,920 --> 00:37:57,240 Speaker 1: he was speaking to bones himself or covering of Beatles. 673 00:37:57,280 --> 00:38:04,120 Speaker 1: Classic picture yourself in a boat on a river with 674 00:38:04,480 --> 00:38:08,920 Speaker 1: tangerine trees and marmalade sky. That has to do with 675 00:38:08,960 --> 00:38:14,080 Speaker 1: the enormity and the quickness and the suddenness of life 676 00:38:14,080 --> 00:38:26,840 Speaker 1: and death of them. And She's God. Life and death. 677 00:38:29,880 --> 00:38:34,319 Speaker 1: Heavy stuff and a big congrats to the Captain now 678 00:38:34,400 --> 00:38:41,400 Speaker 1: Admiral of course, Kirk here on the fastest hour in politics. 679 00:38:41,480 --> 00:38:45,520 Speaker 1: With apologies to Rick and Max, I'm Joe, Matthew and Washington. 680 00:38:45,560 --> 00:38:48,600 Speaker 1: Meet you back here tomorrow. This is Bloomberg.