1 00:00:00,320 --> 00:00:03,120 Speaker 1: Why from our nations this budget thing is going to 2 00:00:03,200 --> 00:00:05,920 Speaker 1: do nothing space sports. I still think it's interesting President 3 00:00:05,960 --> 00:00:09,639 Speaker 1: Trump not playing his cards yet headlines Policy and politics 4 00:00:09,680 --> 00:00:14,400 Speaker 1: colliding sound on with Kevin's related the insiders, the influencers, 5 00:00:14,560 --> 00:00:17,400 Speaker 1: the inside. I would rather see a congressional solution. It's 6 00:00:17,400 --> 00:00:20,360 Speaker 1: part of my DNA. The Senate map in looks a 7 00:00:20,360 --> 00:00:22,680 Speaker 1: lot different than it looked in. You really have a 8 00:00:22,720 --> 00:00:26,000 Speaker 1: divide within Team Trump. The president has to do exactly 9 00:00:26,040 --> 00:00:27,800 Speaker 1: what people seven here to do, which is to get 10 00:00:27,800 --> 00:00:31,320 Speaker 1: it done. Is he's sound on with Kevin's He related 11 00:00:31,520 --> 00:00:35,280 Speaker 1: on Bloomberg one and one five point seven m h 12 00:00:35,440 --> 00:00:39,200 Speaker 1: D two Bottomore tensions flaring between the US and Iran 13 00:00:39,800 --> 00:00:43,760 Speaker 1: and the UK. What will President Trump's be response to 14 00:00:43,840 --> 00:00:46,720 Speaker 1: all of this? As we head into another uncertain weekend 15 00:00:46,760 --> 00:00:49,879 Speaker 1: on the geo political front, we will bring you the latest. 16 00:00:50,280 --> 00:00:53,000 Speaker 1: A busy week here in Washington, d C. But all 17 00:00:53,040 --> 00:00:56,480 Speaker 1: anyone is talking about tonight is the situation with Iran. 18 00:00:56,680 --> 00:00:59,600 Speaker 1: And there's two major fronts that we are following. The 19 00:00:59,720 --> 00:01:05,040 Speaker 1: fur with regards to President Trump shooting down an Iranian drone, 20 00:01:05,640 --> 00:01:09,600 Speaker 1: the President saying that the US is responsible for taking 21 00:01:09,640 --> 00:01:14,040 Speaker 1: down that Iranian drone and that they want to have 22 00:01:14,080 --> 00:01:17,480 Speaker 1: communications with top Iran leaders. So that's that's issue number one. 23 00:01:17,959 --> 00:01:20,840 Speaker 1: And then issue number two, and this happening just within 24 00:01:20,880 --> 00:01:23,760 Speaker 1: the last twenty four hours, is that President Trump also 25 00:01:23,840 --> 00:01:26,640 Speaker 1: saying he's going to work with UK government officials on 26 00:01:26,680 --> 00:01:30,880 Speaker 1: a response to Iran seizure of a British oil tanker 27 00:01:30,959 --> 00:01:33,360 Speaker 1: that we now know just within the last several minutes 28 00:01:33,680 --> 00:01:37,200 Speaker 1: the Iranians were holding in the Strait of Hormus that 29 00:01:37,240 --> 00:01:41,479 Speaker 1: they have since released. This has just been a very 30 00:01:41,760 --> 00:01:46,120 Speaker 1: Iranian centric news cycle and a lot of questions about 31 00:01:46,160 --> 00:01:49,920 Speaker 1: what the U. S policy will be around the world 32 00:01:50,360 --> 00:01:53,320 Speaker 1: on this particular matter and where things stand. That's why 33 00:01:53,320 --> 00:01:55,600 Speaker 1: we're so grateful to have three all stars to guide 34 00:01:55,640 --> 00:01:58,760 Speaker 1: us through it. David Tafuri his first time on the program. 35 00:01:58,800 --> 00:02:02,040 Speaker 1: He's a former State Department an official focusing in the 36 00:02:02,040 --> 00:02:05,280 Speaker 1: Middle Eastern region. He's also a former advisor to the 37 00:02:05,280 --> 00:02:08,560 Speaker 1: Obama campaign. Mattie Doubler's here, senior fellow at the National 38 00:02:08,560 --> 00:02:12,520 Speaker 1: Taxpayers Union, former Coalitions director to the House Republican Conference. 39 00:02:12,520 --> 00:02:15,919 Speaker 1: And and and Edrew Jim Bloomberg News Politics editor, And I'll 40 00:02:15,960 --> 00:02:21,480 Speaker 1: start with you the President today suggesting what in terms 41 00:02:21,520 --> 00:02:25,839 Speaker 1: of the White House policy with regards to Iran. Well, 42 00:02:25,880 --> 00:02:28,320 Speaker 1: he said that he will indeed work with the UK 43 00:02:28,440 --> 00:02:30,639 Speaker 1: in response to this tanker seizure. And you know, it's 44 00:02:30,639 --> 00:02:34,480 Speaker 1: been an instring position for President Trump because he has 45 00:02:35,000 --> 00:02:37,680 Speaker 1: had an insting relationship with our allies. You know, the 46 00:02:37,800 --> 00:02:40,120 Speaker 1: US was party to the j c p o A, 47 00:02:40,280 --> 00:02:43,520 Speaker 1: this Iranian nuclear deal, and withdrawing from that really put 48 00:02:43,560 --> 00:02:46,160 Speaker 1: the President at odds with a lot of our European allies, 49 00:02:46,520 --> 00:02:48,800 Speaker 1: and the europe was kind of put in an instring 50 00:02:48,840 --> 00:02:52,240 Speaker 1: interesting position where they had to decide either to not 51 00:02:52,360 --> 00:02:55,880 Speaker 1: abide by the terms of the deal or to kind 52 00:02:55,880 --> 00:02:58,240 Speaker 1: of carry the deal forward without the United States. The 53 00:02:58,240 --> 00:03:00,560 Speaker 1: problem with that, of course, is that he on wasn't 54 00:03:00,600 --> 00:03:02,880 Speaker 1: seeing some of the financial benefits that they had hoped 55 00:03:02,919 --> 00:03:05,400 Speaker 1: to see that they were promised in that deal. So 56 00:03:05,600 --> 00:03:07,679 Speaker 1: right now it's kind of hard for the US to 57 00:03:07,840 --> 00:03:10,280 Speaker 1: work with allies, which, when it comes to diplomacy, is 58 00:03:10,280 --> 00:03:12,400 Speaker 1: really the best way to strengthen your hand. All right, 59 00:03:12,440 --> 00:03:15,000 Speaker 1: So again we're getting these new headlines, this reporting from 60 00:03:15,040 --> 00:03:20,000 Speaker 1: other outlets that uh the that the UK tanker uh 61 00:03:20,040 --> 00:03:23,480 Speaker 1: it was a Liberian flagged tanker that was released. It 62 00:03:23,600 --> 00:03:27,280 Speaker 1: still appears that the UK vessel is still being held. 63 00:03:27,320 --> 00:03:30,480 Speaker 1: I'll bring you the latest as that develops. David to fury, 64 00:03:30,600 --> 00:03:33,679 Speaker 1: Why why is why are they Why are the Iranians 65 00:03:33,680 --> 00:03:39,880 Speaker 1: holding this vessel? Basically, Iran wants to get attention and 66 00:03:39,920 --> 00:03:43,480 Speaker 1: it's getting it today from both of these acts and 67 00:03:43,560 --> 00:03:46,720 Speaker 1: from the acts earlier in the week. And the reason 68 00:03:46,800 --> 00:03:49,560 Speaker 1: that it wants at attention is Iran feels backed into 69 00:03:49,760 --> 00:03:52,800 Speaker 1: a corner uh the US pulled out of the nuclear 70 00:03:52,960 --> 00:03:58,360 Speaker 1: deal and because it ratcheted sanctions up and European companies 71 00:03:58,400 --> 00:04:01,400 Speaker 1: were not comfortable continuing to do this this with Iran. 72 00:04:01,880 --> 00:04:05,160 Speaker 1: They also have been observing the sanctions that's really hurt 73 00:04:05,240 --> 00:04:07,960 Speaker 1: Iran's economy. At the same time, the US and the 74 00:04:07,960 --> 00:04:12,040 Speaker 1: Trump administration doesn't have a diplomatic channel open, so there's 75 00:04:12,120 --> 00:04:14,840 Speaker 1: actually nowhere for Iran to go. It can't solve this 76 00:04:15,200 --> 00:04:18,599 Speaker 1: through diplomacy and it can't back down. It wants to 77 00:04:18,640 --> 00:04:21,400 Speaker 1: be maintain its respect. So what it does is it 78 00:04:21,440 --> 00:04:24,440 Speaker 1: acts out. It uses the power and authorities that it 79 00:04:24,560 --> 00:04:27,160 Speaker 1: has in order to strike back against the West. It's 80 00:04:27,200 --> 00:04:30,520 Speaker 1: taken these two tankers, these British tankers. It's been doing 81 00:04:30,839 --> 00:04:34,919 Speaker 1: provocative actions towards U s naval ships like flying drones 82 00:04:35,200 --> 00:04:38,120 Speaker 1: over its ship. And most importantly, what it does that's 83 00:04:38,160 --> 00:04:42,360 Speaker 1: the most serious aggravation is it uses its proxy forces 84 00:04:42,440 --> 00:04:46,280 Speaker 1: in Syria and in Lebanon and in other countries. And 85 00:04:46,320 --> 00:04:49,520 Speaker 1: that's where we could really face the potential for this 86 00:04:49,720 --> 00:04:51,960 Speaker 1: to escalate. The straighter form US is one of the 87 00:04:52,000 --> 00:04:55,960 Speaker 1: most crucial global energy points in the region. So now 88 00:04:56,000 --> 00:05:01,479 Speaker 1: you have Iran the holding captive uk A tanker ship 89 00:05:02,000 --> 00:05:06,479 Speaker 1: in this critical energy sector, and Maddie Duppler, the President, 90 00:05:06,560 --> 00:05:08,240 Speaker 1: just within the last twenty four hours saying that the 91 00:05:08,320 --> 00:05:12,599 Speaker 1: U S shot down and Irani and drone. This is 92 00:05:12,800 --> 00:05:15,840 Speaker 1: a dramatic escalation in US Irani intentions, right, which is 93 00:05:15,880 --> 00:05:18,039 Speaker 1: why I think it's so interesting to hear David say 94 00:05:18,080 --> 00:05:20,840 Speaker 1: that this is Iran's potentially their only option in order 95 00:05:20,880 --> 00:05:23,200 Speaker 1: to get attention to highlight how they're feeling in the 96 00:05:23,360 --> 00:05:26,080 Speaker 1: in the in the region. Now that the j c 97 00:05:26,200 --> 00:05:30,200 Speaker 1: p o A is essentially from a bygone era. Are 98 00:05:30,480 --> 00:05:34,039 Speaker 1: uh Anna's point to about European allies and what Europe 99 00:05:34,440 --> 00:05:36,800 Speaker 1: did and will do now that the United States has 100 00:05:36,800 --> 00:05:39,720 Speaker 1: basically washed its hands of the Iranian agreement? I think 101 00:05:39,800 --> 00:05:41,960 Speaker 1: is another interesting point because David I want to put 102 00:05:41,960 --> 00:05:44,360 Speaker 1: this question to you, why is it that Iran can 103 00:05:44,440 --> 00:05:46,800 Speaker 1: only show force? Why is it that we don't have 104 00:05:46,960 --> 00:05:49,160 Speaker 1: diplomatic options here? Because we've been hearing a lot from 105 00:05:49,200 --> 00:05:52,560 Speaker 1: the Foreign Minister about how potentially he might be open 106 00:05:52,640 --> 00:05:56,359 Speaker 1: to negotiations. There's an opportunity for conversation, but you're saying, no, 107 00:05:56,640 --> 00:05:58,960 Speaker 1: we might be past that and Iran needs to flex 108 00:05:59,000 --> 00:06:01,120 Speaker 1: this muscle in order to get United States attention. Is 109 00:06:01,160 --> 00:06:04,799 Speaker 1: that correct? Well, what happened is that when Trump pulled 110 00:06:04,839 --> 00:06:07,279 Speaker 1: out of the Iran nuclear deal, which happened a little 111 00:06:07,320 --> 00:06:11,479 Speaker 1: over a year ago, he didn't present any actual, real 112 00:06:11,560 --> 00:06:14,520 Speaker 1: alternatives to Iran. In other words, he didn't say we're 113 00:06:14,520 --> 00:06:17,040 Speaker 1: gonna we are going to pull out unless you do this, this, 114 00:06:17,080 --> 00:06:19,400 Speaker 1: and this. He pulled out, and there isn't a strategy 115 00:06:19,640 --> 00:06:24,360 Speaker 1: for reopening negotiations over that deal. And the things that 116 00:06:24,400 --> 00:06:28,360 Speaker 1: he has demanded, which Pompeo set forth, are twelve things 117 00:06:28,400 --> 00:06:31,320 Speaker 1: that Iran can never agree to. It and basically requires 118 00:06:31,320 --> 00:06:33,039 Speaker 1: them to give up the regime. And if you know 119 00:06:33,080 --> 00:06:35,520 Speaker 1: about Iran, the only thing they care about is for 120 00:06:35,560 --> 00:06:38,359 Speaker 1: the regime to survive, so they have to use violence 121 00:06:38,600 --> 00:06:41,839 Speaker 1: in order to provoke the West and in order to 122 00:06:41,880 --> 00:06:45,599 Speaker 1: galvanize support for their regime and show that they're being 123 00:06:45,680 --> 00:06:47,960 Speaker 1: victimized by the West. That's how they do it. They 124 00:06:48,040 --> 00:06:50,760 Speaker 1: want the US to respond. It would actually be helpful 125 00:06:50,800 --> 00:06:53,160 Speaker 1: if the US engage in a military attack, because they 126 00:06:53,160 --> 00:06:55,520 Speaker 1: would use that to rally the people in favor of 127 00:06:55,520 --> 00:06:57,280 Speaker 1: the regime. You're saying it would be helpful to from 128 00:06:57,320 --> 00:07:00,960 Speaker 1: Tehran's perspective, I think so, and originally yes. So. The 129 00:07:01,000 --> 00:07:03,400 Speaker 1: two big developments that were following tonight with David Sefuri 130 00:07:03,440 --> 00:07:06,040 Speaker 1: of former States Department official as well as Mattie Doubler 131 00:07:06,360 --> 00:07:10,800 Speaker 1: and Anna Edgerton. Number one, Iron still holding captive and 132 00:07:11,600 --> 00:07:14,880 Speaker 1: a UK tanker in the Strait of Hormones. Number two 133 00:07:15,280 --> 00:07:18,520 Speaker 1: the US shooting down and Irani and drone. I want 134 00:07:18,520 --> 00:07:21,320 Speaker 1: to bring you comment from earlier today from President Trump 135 00:07:21,520 --> 00:07:25,400 Speaker 1: when he was asked directly about the UK tanker. Take 136 00:07:25,400 --> 00:07:27,840 Speaker 1: a listen to the President of the United States. This 137 00:07:28,280 --> 00:07:33,680 Speaker 1: only goes to show what I'm saying about Iran. Trouble, 138 00:07:33,920 --> 00:07:38,600 Speaker 1: nothing but trouble. And remember this. The agreement, the ridiculous 139 00:07:38,600 --> 00:07:42,720 Speaker 1: agreement made by President Obama expires in a very short 140 00:07:42,760 --> 00:07:45,920 Speaker 1: period of time. It was a short term agreement when 141 00:07:45,920 --> 00:07:48,200 Speaker 1: you're dealing in countries you have to deal in fifty 142 00:07:48,280 --> 00:07:50,440 Speaker 1: years and a hundred years. You don't deal in the 143 00:07:50,480 --> 00:07:54,640 Speaker 1: short term. President Trump, speaking earlier today about his decision 144 00:07:54,680 --> 00:07:57,000 Speaker 1: to withdraw the United States from the j c P 145 00:07:57,120 --> 00:08:00,880 Speaker 1: away or the Iran nuclear disarmament deal that was that 146 00:08:01,000 --> 00:08:04,480 Speaker 1: has now since become a political divide here in the US, 147 00:08:04,600 --> 00:08:09,000 Speaker 1: Democrats arguing that the Tehran temper tantrum for backup for 148 00:08:09,120 --> 00:08:12,840 Speaker 1: lack of a better terminology, is part of the reason 149 00:08:13,480 --> 00:08:16,480 Speaker 1: because of the U S decision to withdraw from the 150 00:08:16,520 --> 00:08:18,120 Speaker 1: j c P o ay, that is part of the 151 00:08:18,160 --> 00:08:21,920 Speaker 1: reason why we're seeing the Tehran temper tantrum that we've 152 00:08:22,000 --> 00:08:28,360 Speaker 1: seen exhibit A, the Tehran's holding captive in uk uh tanker. 153 00:08:29,040 --> 00:08:32,600 Speaker 1: Republicans saying that the Tehran temper tantrum is a result 154 00:08:32,760 --> 00:08:36,880 Speaker 1: of the crippling economic sanctions that have been placed upon 155 00:08:37,120 --> 00:08:42,360 Speaker 1: Tehran that have really forced them to lash out. David 156 00:08:42,360 --> 00:08:46,199 Speaker 1: se Fury, which side I mean, which is it? Well, 157 00:08:46,520 --> 00:08:49,000 Speaker 1: I mean, I mean both are right in a sense. 158 00:08:49,160 --> 00:08:53,599 Speaker 1: The Iran is a The U S is right to 159 00:08:53,679 --> 00:08:57,880 Speaker 1: be unhappy with Iran because of its conduct in supporting 160 00:08:57,960 --> 00:09:01,760 Speaker 1: terrorism and in supporting these prox forces in Syria and 161 00:09:01,840 --> 00:09:05,360 Speaker 1: in Iraq and around the world. Um At the same time, 162 00:09:05,720 --> 00:09:08,040 Speaker 1: the US and Trump when they pulled out of the 163 00:09:08,080 --> 00:09:10,640 Speaker 1: Iran deal, which was not perfect, it had a lot 164 00:09:10,679 --> 00:09:13,760 Speaker 1: of flaws, they didn't have an alternative plan. They didn't 165 00:09:14,360 --> 00:09:17,240 Speaker 1: propose another deal. What the U S should have done 166 00:09:17,360 --> 00:09:20,640 Speaker 1: is gone to our European partners who helped us negotiate 167 00:09:20,679 --> 00:09:23,480 Speaker 1: this deal and said we want to rework this deal, 168 00:09:24,679 --> 00:09:27,760 Speaker 1: unify with US in a unified front towards Iran, and 169 00:09:27,840 --> 00:09:31,040 Speaker 1: demand that the deal be made stronger or else. We 170 00:09:31,080 --> 00:09:33,040 Speaker 1: didn't do that, and when we pulled out of the 171 00:09:33,080 --> 00:09:36,520 Speaker 1: deal without leaving other options, we left no diplomatic channels, 172 00:09:36,640 --> 00:09:40,120 Speaker 1: which is why Iran is acting out and unfortunately now 173 00:09:40,280 --> 00:09:43,840 Speaker 1: there is no real path forward. I don't see any 174 00:09:43,880 --> 00:09:47,760 Speaker 1: real possibility that we're not gonna see more confrontations between 175 00:09:47,800 --> 00:09:52,200 Speaker 1: the US, the UK or European allies and Iran, because 176 00:09:52,200 --> 00:09:55,640 Speaker 1: that's what Iran wants. President Trump and Edgerton Bloomberg News 177 00:09:55,640 --> 00:10:00,320 Speaker 1: Politics enator saying essentially, Iran, you better not do anything stupid. 178 00:10:00,320 --> 00:10:01,800 Speaker 1: Take a listen to what the President had to say 179 00:10:01,880 --> 00:10:04,200 Speaker 1: earlier today. We hope for their sake, they don't do 180 00:10:04,200 --> 00:10:07,240 Speaker 1: anything foolish they do, they will pay a price like 181 00:10:07,320 --> 00:10:11,160 Speaker 1: nobody's at the paid a price. So well, that's the 182 00:10:11,240 --> 00:10:14,400 Speaker 1: risk because like how do you interpret quote unquote stupid act. 183 00:10:14,480 --> 00:10:16,880 Speaker 1: You know, there's a lot of room from his calculation 184 00:10:16,920 --> 00:10:19,600 Speaker 1: here when you're just kind of sending signals by for example, 185 00:10:19,640 --> 00:10:24,160 Speaker 1: it looks like this tanker was briefly detained to ensure 186 00:10:24,200 --> 00:10:26,559 Speaker 1: compliance with environmental standards. But you know, you see those 187 00:10:26,559 --> 00:10:29,199 Speaker 1: headlines and you have a reaction that gets put in place, 188 00:10:29,240 --> 00:10:35,840 Speaker 1: and that risks escalating and maybe a um not reciprocal 189 00:10:36,360 --> 00:10:38,600 Speaker 1: reaction like the President likes to say. And you remember 190 00:10:38,760 --> 00:10:42,240 Speaker 1: the President ordered strikes on Iranian oil fields and then 191 00:10:42,280 --> 00:10:44,800 Speaker 1: called that off it with like ten minutes left to go, 192 00:10:44,920 --> 00:10:47,959 Speaker 1: you know, planes information, and there was that dramatic middle 193 00:10:47,960 --> 00:10:49,960 Speaker 1: of the night decision by the President to not go 194 00:10:50,320 --> 00:10:52,079 Speaker 1: to not follow through with that strike because he was 195 00:10:52,080 --> 00:10:54,760 Speaker 1: worried about the loss of life in response to an 196 00:10:54,800 --> 00:10:58,520 Speaker 1: Iranian aggression that he said was not as bad as 197 00:10:58,520 --> 00:11:00,640 Speaker 1: what the US was prepared to do. We're following all 198 00:11:00,679 --> 00:11:04,079 Speaker 1: things around the AP now reporting that the Iron says 199 00:11:04,120 --> 00:11:08,040 Speaker 1: second tanker has exited IRNNI and waters uh And and 200 00:11:08,320 --> 00:11:12,560 Speaker 1: Farst has reported Friday that the Liberian flagged tanker was 201 00:11:12,679 --> 00:11:16,160 Speaker 1: briefly detained in the Strait of Horde News and given 202 00:11:16,200 --> 00:11:20,079 Speaker 1: a notice to comply with environmental regulations before being allowed 203 00:11:20,400 --> 00:11:24,480 Speaker 1: to continue on its way. This is Sound On with 204 00:11:24,559 --> 00:11:30,520 Speaker 1: Kevin Currel on Bloomberg one and seven m HD two. Boltemore, 205 00:11:31,120 --> 00:11:34,440 Speaker 1: I'm Kevin CURRELI Chief Washington correspondent for Bloomberg Television and 206 00:11:34,440 --> 00:11:38,120 Speaker 1: Bloomberg Radio and all Eyes focusing on the debt ceiling? 207 00:11:38,200 --> 00:11:41,600 Speaker 1: Will the US default on its debt? Here with me 208 00:11:41,679 --> 00:11:44,840 Speaker 1: for the hour to All Stars, three, All Stars, but 209 00:11:44,960 --> 00:11:47,360 Speaker 1: especially on the debt. Mattie Doubler, senior fellow at the 210 00:11:47,440 --> 00:11:50,600 Speaker 1: National Taxpayers Union and former Coalitions director for the House 211 00:11:50,640 --> 00:11:54,920 Speaker 1: Republican Conference. And Anna Edgarton, Bloomberg News Politics editor, and 212 00:11:54,960 --> 00:11:57,640 Speaker 1: are we going to default on our debt? No, Kevin, 213 00:11:57,679 --> 00:11:59,600 Speaker 1: We're not going to default on our debt. Good. Um. 214 00:11:59,640 --> 00:12:04,240 Speaker 1: I feel that's a positive thing. It's Fridayists on the Friday. 215 00:12:04,280 --> 00:12:06,280 Speaker 1: I'm always an optimistic I think that I think the 216 00:12:06,280 --> 00:12:09,480 Speaker 1: country needs more optimism assuring markets going into the weekend. 217 00:12:09,720 --> 00:12:12,600 Speaker 1: You know, I mean, listen, I'm know J Powell. Yeah, 218 00:12:12,640 --> 00:12:14,480 Speaker 1: I'm just I'm just a millennial trying to make a 219 00:12:14,520 --> 00:12:17,280 Speaker 1: living as a journalist go ahead, and so all parties 220 00:12:17,360 --> 00:12:20,560 Speaker 1: want to give the Treasury more borrowing authorities so that 221 00:12:20,600 --> 00:12:24,240 Speaker 1: we don't miss payments as early as September. So we 222 00:12:24,320 --> 00:12:27,360 Speaker 1: only have a week to do this because Congress, because 223 00:12:27,360 --> 00:12:29,760 Speaker 1: the House is scheduled to leave on July. You're really 224 00:12:29,800 --> 00:12:31,840 Speaker 1: optimistic if you think Congress can get a deal in 225 00:12:31,840 --> 00:12:35,079 Speaker 1: a week, especially after the week we've had pain. So 226 00:12:35,600 --> 00:12:37,880 Speaker 1: if so, they're trying to attach a budget caps agreement, 227 00:12:37,920 --> 00:12:39,560 Speaker 1: which is where the real sticking point is. If they 228 00:12:39,559 --> 00:12:42,480 Speaker 1: can't get the budget caps figured out this week, there 229 00:12:42,640 --> 00:12:46,000 Speaker 1: will probably just do a short term debt limit agreement 230 00:12:46,280 --> 00:12:49,600 Speaker 1: to pass this week and give them more time to 231 00:12:49,640 --> 00:12:52,600 Speaker 1: negotiate the budget caps. They are close to a solution 232 00:12:52,600 --> 00:12:55,200 Speaker 1: on the budget caps, which would allow them to have 233 00:12:55,280 --> 00:12:59,080 Speaker 1: more government spending on defense and non defense discretionary issues. 234 00:12:59,240 --> 00:13:02,120 Speaker 1: And so if they can figure out those last final 235 00:13:02,200 --> 00:13:06,000 Speaker 1: details Pelosi, how Speaker Nancy Pelosi and Treasury Secretary Steve 236 00:13:06,080 --> 00:13:08,840 Speaker 1: Venution just spoke by phone at four pm today, So 237 00:13:08,880 --> 00:13:10,800 Speaker 1: we're waiting to get a read out from that and 238 00:13:10,880 --> 00:13:13,520 Speaker 1: see if they are any closer to getting a deal. 239 00:13:13,640 --> 00:13:17,280 Speaker 1: And Speaker Pelosi and Secretary Monution have been the two 240 00:13:17,320 --> 00:13:19,760 Speaker 1: who have been in constant contacts since the beginning of 241 00:13:19,760 --> 00:13:21,439 Speaker 1: the week trying to hammer this out. So there are 242 00:13:22,880 --> 00:13:27,600 Speaker 1: week for that week like HASHTAGOC go ahead. Yeah, if 243 00:13:27,600 --> 00:13:30,440 Speaker 1: you're a speaker Pelosi, you deserve a big glass of 244 00:13:30,480 --> 00:13:32,600 Speaker 1: red wine at the end of today, because it has 245 00:13:32,640 --> 00:13:35,560 Speaker 1: been a heck of a week. But you know, the 246 00:13:35,720 --> 00:13:38,280 Speaker 1: debt limit. Congress have been operating under the assumption that 247 00:13:38,360 --> 00:13:40,640 Speaker 1: they had up until the end of the fiscal year 248 00:13:40,679 --> 00:13:42,920 Speaker 1: to come to a consensus on what they would do 249 00:13:42,960 --> 00:13:45,360 Speaker 1: on these budget caps. Bundle that together with the debt 250 00:13:45,360 --> 00:13:47,560 Speaker 1: limit and get that passed at the end of September. 251 00:13:47,600 --> 00:13:49,640 Speaker 1: As and I mentioned, we're now coming up against the 252 00:13:49,640 --> 00:13:51,959 Speaker 1: August recess and it is go time. Treasury has said 253 00:13:51,960 --> 00:13:54,480 Speaker 1: we're running out of extraordinary measures and as a result, 254 00:13:54,520 --> 00:13:56,560 Speaker 1: Congress needs to come up with a solution now. It 255 00:13:56,760 --> 00:13:58,920 Speaker 1: is interesting because it seems to be the last read 256 00:13:58,960 --> 00:14:00,880 Speaker 1: out we got this morning. It seems to be the 257 00:14:00,880 --> 00:14:05,760 Speaker 1: sticking point is not simply the spending numbers for the 258 00:14:06,520 --> 00:14:09,439 Speaker 1: budget caps that both sides, with both Democrats and Republicans 259 00:14:09,480 --> 00:14:12,440 Speaker 1: want raised. It's the pay for is that the White 260 00:14:12,440 --> 00:14:15,200 Speaker 1: House itself has suggested they need in order to get 261 00:14:15,200 --> 00:14:18,040 Speaker 1: Republican votes on this now, I would remind listeners to 262 00:14:18,320 --> 00:14:20,600 Speaker 1: that all of our budget deals in the past several 263 00:14:20,680 --> 00:14:22,720 Speaker 1: years that have set us up for the scenario where 264 00:14:22,760 --> 00:14:26,600 Speaker 1: we're talking um uh spending limits on non defens discretionary 265 00:14:26,640 --> 00:14:31,560 Speaker 1: and defense discretionary have been bipartisan bills and two Februaries ago, 266 00:14:31,680 --> 00:14:33,800 Speaker 1: we had the last budget deal that altered the terms 267 00:14:34,080 --> 00:14:37,320 Speaker 1: of what was initially set into law UM in eleven, 268 00:14:37,480 --> 00:14:40,640 Speaker 1: signed by President Obama but passed by both chambers of Congress. 269 00:14:40,640 --> 00:14:43,680 Speaker 1: That's created these budget caps that Congress now has to 270 00:14:43,760 --> 00:14:47,280 Speaker 1: deal with every year. Right, so Democrats are saying that 271 00:14:47,280 --> 00:14:49,800 Speaker 1: pay fors are unacceptable. We'll see if they say all 272 00:14:49,800 --> 00:14:51,720 Speaker 1: pay fors a unacceptable and they simply want to raise 273 00:14:51,720 --> 00:14:55,480 Speaker 1: those caps, or if they acknowledge that both sides have 274 00:14:55,520 --> 00:14:58,200 Speaker 1: agreed to these caps in the past and therefore there 275 00:14:58,200 --> 00:15:00,600 Speaker 1: needs to be some understanding that we can't continue to 276 00:15:00,640 --> 00:15:02,520 Speaker 1: bust them every time a new fiscal year roles. What 277 00:15:02,600 --> 00:15:04,920 Speaker 1: I love about the Friday Show with Doppler is that 278 00:15:04,960 --> 00:15:07,640 Speaker 1: we can just nerd out none we were talking budget 279 00:15:07,680 --> 00:15:10,280 Speaker 1: cabs and pay food doesn't want to talk budget cabs 280 00:15:10,280 --> 00:15:13,840 Speaker 1: on a Friday afternoon. It's literally no, I mean yeah, no, 281 00:15:13,880 --> 00:15:15,680 Speaker 1: I mean I think it's great. But David's a fury. 282 00:15:16,000 --> 00:15:19,160 Speaker 1: Former States Department official, former advisor to the Obama campaign 283 00:15:19,240 --> 00:15:23,920 Speaker 1: put this in perspective about what message defaulting on our 284 00:15:24,080 --> 00:15:27,920 Speaker 1: debt would send to China, would send to the Middle East, 285 00:15:28,160 --> 00:15:32,520 Speaker 1: would send to Europe if they're unable to get a deal. Well, 286 00:15:32,560 --> 00:15:34,360 Speaker 1: the one thing we have going for us right now 287 00:15:34,440 --> 00:15:37,160 Speaker 1: is all those countries just mentioned recognize that we have 288 00:15:37,200 --> 00:15:40,240 Speaker 1: a very strong economy. So while we have all this 289 00:15:40,440 --> 00:15:43,920 Speaker 1: political divisiveness here, there's a lot of criticism of President Trump, 290 00:15:44,000 --> 00:15:46,680 Speaker 1: we have some foreign policy crisis on the horizon, we 291 00:15:46,720 --> 00:15:49,680 Speaker 1: actually have a really good economy and people respect America 292 00:15:49,720 --> 00:15:52,440 Speaker 1: because of our economy. Now, so that would really hurt that. 293 00:15:52,920 --> 00:15:55,760 Speaker 1: But to zoom out a little bit, we have to 294 00:15:55,840 --> 00:15:58,280 Speaker 1: wonder why do we still have a debt limit. It's 295 00:15:58,320 --> 00:16:01,880 Speaker 1: an artificial thing. It doesn't stop us from spending money. 296 00:16:01,880 --> 00:16:04,640 Speaker 1: It just it's just what stops us from pain for 297 00:16:04,680 --> 00:16:07,640 Speaker 1: what we've already spent. So we ought to focus on caps, 298 00:16:07,800 --> 00:16:09,720 Speaker 1: spending caps, and we got to get rid of this 299 00:16:09,760 --> 00:16:13,800 Speaker 1: debt limit caucus. Well, no, I think it's interesting. This 300 00:16:13,840 --> 00:16:16,800 Speaker 1: is an interesting question when you look at well, when 301 00:16:16,800 --> 00:16:18,800 Speaker 1: you look at the dynamics in Congress, it's actually an 302 00:16:18,800 --> 00:16:22,720 Speaker 1: interesting question because up until two when you had Democrats, 303 00:16:22,800 --> 00:16:25,920 Speaker 1: particularly in control those most recent years of Congress, they 304 00:16:25,960 --> 00:16:28,000 Speaker 1: simply would attach the debt limit to the budget and 305 00:16:28,000 --> 00:16:31,200 Speaker 1: it would be deemed past with any budgets. That means 306 00:16:31,200 --> 00:16:33,520 Speaker 1: that the deent limit, David, to your point, would effectively 307 00:16:33,520 --> 00:16:36,080 Speaker 1: not exist, because it would just exist to serve whatever 308 00:16:36,120 --> 00:16:37,840 Speaker 1: budget was passing along. And I don't want to be 309 00:16:37,840 --> 00:16:40,120 Speaker 1: responsible for any car crashes because people there are a 310 00:16:40,120 --> 00:16:42,400 Speaker 1: lot of people listening in their cars right now who 311 00:16:42,440 --> 00:16:46,280 Speaker 1: almost swerved off the road when they heard that. David 312 00:16:46,320 --> 00:16:48,800 Speaker 1: to Fury of the State's Department said, why do we 313 00:16:48,840 --> 00:16:52,720 Speaker 1: need a debts Why two trillion dollars worth of debt? 314 00:16:52,960 --> 00:16:54,680 Speaker 1: I mean, a lot of folks would argue, hey, you 315 00:16:54,720 --> 00:16:58,320 Speaker 1: know what, maybe we should, but it doesn't control the 316 00:16:58,360 --> 00:17:01,320 Speaker 1: spending as and I, well, I would argue, it's an 317 00:17:01,400 --> 00:17:05,520 Speaker 1: interesting debate, and I'm not taking aside. Kevin. I would argue, though, 318 00:17:05,560 --> 00:17:08,760 Speaker 1: that the politics over the debt limit have actually served 319 00:17:08,760 --> 00:17:11,320 Speaker 1: to limit some spending, the example of that being that 320 00:17:11,359 --> 00:17:15,119 Speaker 1: twenty eleven budget deal which created discretionaries caps, which created 321 00:17:15,160 --> 00:17:18,439 Speaker 1: the sequester and actually dialed discretionary spending levels back from 322 00:17:18,480 --> 00:17:20,920 Speaker 1: where they've been in the previous two years. Now, does 323 00:17:20,960 --> 00:17:23,800 Speaker 1: that speak to the two trillion dollars into in debt 324 00:17:23,840 --> 00:17:25,920 Speaker 1: that we have a mass as a country. No, because 325 00:17:25,920 --> 00:17:27,879 Speaker 1: it doesn't get to the mandatory spending programs that are 326 00:17:27,960 --> 00:17:31,480 Speaker 1: ultimately the drivers of that debt. So as a mechanism 327 00:17:31,520 --> 00:17:36,240 Speaker 1: itself doesn't work as a political tool. Sometimes works. Now 328 00:17:36,240 --> 00:17:38,520 Speaker 1: we're at a point where I think it has probably 329 00:17:38,520 --> 00:17:41,000 Speaker 1: exhausted all of its utility and we need to get 330 00:17:41,080 --> 00:17:45,080 Speaker 1: Everything is changing. I mean, life is just upside down now. 331 00:17:45,119 --> 00:17:49,400 Speaker 1: Democrats are concerned about the debt and Republicans are just 332 00:17:49,640 --> 00:17:52,959 Speaker 1: completely flipping things. And I will say this is why 333 00:17:53,080 --> 00:17:56,920 Speaker 1: Democrats massively roll their eyes when Republicans say we need 334 00:17:57,040 --> 00:18:01,040 Speaker 1: offsets for these spending increases. They kind is the GOP 335 00:18:01,200 --> 00:18:04,239 Speaker 1: tax cut from of course, was not offset. All right, 336 00:18:04,280 --> 00:18:06,520 Speaker 1: listen to what President Trump said about the Dutch seling today. 337 00:18:06,560 --> 00:18:09,280 Speaker 1: He says it's not negotiable. Here he is. I said, 338 00:18:09,400 --> 00:18:13,200 Speaker 1: I remember to Senator Schumer and to Nancy Pelosi, would 339 00:18:13,240 --> 00:18:16,359 Speaker 1: anybody ever use that to negotiate with They said, absolutely no, 340 00:18:16,640 --> 00:18:23,359 Speaker 1: that's a sacred element of our country. Oh boy, this 341 00:18:23,720 --> 00:18:28,240 Speaker 1: is sound on with Kevin's he related on Bloomberge and 342 00:18:28,320 --> 00:18:31,000 Speaker 1: one oh five point seven f M h D two Baltimore. 343 00:18:31,760 --> 00:18:35,280 Speaker 1: What a week in Washington boil. I mean it is hot, 344 00:18:35,320 --> 00:18:38,840 Speaker 1: it's humid. The rhetoric here in Washington, it's abominable. I 345 00:18:38,840 --> 00:18:42,200 Speaker 1: mean it's just so heightened and everyone's attack and everybody. 346 00:18:42,240 --> 00:18:44,040 Speaker 1: You know. Last night I couldn't sleep, so I watched 347 00:18:44,040 --> 00:18:50,240 Speaker 1: the unedited version unedited Gayle King of CBS News interviewing 348 00:18:50,280 --> 00:18:53,119 Speaker 1: the Squad earlier this week. It's like thirty three minutes 349 00:18:53,480 --> 00:18:59,480 Speaker 1: and it's AOC Rashid Talib, Yana Pressley and uh elan Omar, 350 00:19:00,200 --> 00:19:03,320 Speaker 1: the four the Squad. I gotta tell you it gailed 351 00:19:03,359 --> 00:19:04,960 Speaker 1: at such an amazing job. I mean it was just 352 00:19:05,000 --> 00:19:08,879 Speaker 1: like a masterclass and how to interview four different people 353 00:19:09,000 --> 00:19:12,080 Speaker 1: at once. It makes my job. You know, we're grateful 354 00:19:12,119 --> 00:19:13,840 Speaker 1: for my job. It also makes it look easy because 355 00:19:13,840 --> 00:19:15,639 Speaker 1: I only got two people staring at me right now 356 00:19:15,680 --> 00:19:18,600 Speaker 1: in the studio. David ta Fiuri former advisor to the 357 00:19:18,600 --> 00:19:21,919 Speaker 1: Obama campaign. He's also a former State Department official. He 358 00:19:22,040 --> 00:19:27,719 Speaker 1: worked heavily on Araqi policy during the initial phase of 359 00:19:28,040 --> 00:19:31,200 Speaker 1: operation of Rocky Freedom and Mattie Doubler's here, senior fellow 360 00:19:31,200 --> 00:19:34,320 Speaker 1: at the National Taxpayers Union, former Coalitions director for the 361 00:19:34,359 --> 00:19:39,520 Speaker 1: House Republican Conference, and I'm obsessed with the tension that 362 00:19:39,600 --> 00:19:44,159 Speaker 1: we saw on full display within the Democratic Party. I 363 00:19:44,160 --> 00:19:46,600 Speaker 1: want to get We've talked enough about the rhetoric, but 364 00:19:46,680 --> 00:19:49,720 Speaker 1: the tension of policy. And that was my biggest takeaway 365 00:19:49,760 --> 00:19:53,720 Speaker 1: from the Squad Gail King interview was they're They're like, 366 00:19:54,359 --> 00:19:57,760 Speaker 1: the Squad is on a completely different page. They're not 367 00:19:57,800 --> 00:20:01,760 Speaker 1: even in the same book as House Speaker Nancy Pelosi, 368 00:20:02,040 --> 00:20:05,000 Speaker 1: and now it's spilling out on the campaign trail. And 369 00:20:05,040 --> 00:20:07,240 Speaker 1: that's why. So as someone who worked in the House 370 00:20:07,280 --> 00:20:11,040 Speaker 1: Republican Conference during the advent of the House Freedom Caucus, 371 00:20:11,080 --> 00:20:14,240 Speaker 1: I find it so fascinating to watch Democrats go through 372 00:20:14,280 --> 00:20:16,520 Speaker 1: a little bit of this kind of figure out this 373 00:20:16,560 --> 00:20:19,520 Speaker 1: tension on their own. But it was instructive I think 374 00:20:19,560 --> 00:20:21,800 Speaker 1: what happened over the course of the last week, because 375 00:20:22,000 --> 00:20:24,480 Speaker 1: the old axiom is still true no matter what side 376 00:20:24,480 --> 00:20:25,960 Speaker 1: of the aisle you were on, which is that it 377 00:20:26,080 --> 00:20:28,639 Speaker 1: only matters how many votes you got right. So the 378 00:20:28,640 --> 00:20:32,040 Speaker 1: House Freedom Caucus could actually create policy changes within the 379 00:20:32,080 --> 00:20:34,679 Speaker 1: Republican conference because they had thirty votes that would affect 380 00:20:34,680 --> 00:20:37,080 Speaker 1: the way something would go on the floor. Four people 381 00:20:37,600 --> 00:20:40,199 Speaker 1: is not a majority maker in the House of Representatives. 382 00:20:41,240 --> 00:20:46,520 Speaker 1: I so I felt the point. I get the Washington perspective. Okay, 383 00:20:46,520 --> 00:20:51,000 Speaker 1: so let's bring it through to policy treat John. But 384 00:20:51,200 --> 00:20:53,800 Speaker 1: if John, if if if Speaker Bayner had only had 385 00:20:53,840 --> 00:20:56,159 Speaker 1: to deal with four rabble rousers instead of thirty, it 386 00:20:56,160 --> 00:20:59,200 Speaker 1: would have been a completely different problem for him. Um, 387 00:20:59,240 --> 00:21:01,240 Speaker 1: And that's you know why I think it's interesting. So 388 00:21:01,560 --> 00:21:04,320 Speaker 1: fast forward then to what happens this week, yesterday and 389 00:21:04,359 --> 00:21:07,080 Speaker 1: the House floor where there's a vote on the minimum wage, 390 00:21:07,119 --> 00:21:09,439 Speaker 1: where progressives have been saying for a long time, this 391 00:21:09,520 --> 00:21:11,159 Speaker 1: isn't going far enough. We're not going to vote for this, 392 00:21:11,240 --> 00:21:13,560 Speaker 1: We're going to take this if it doesn't continue to 393 00:21:13,560 --> 00:21:17,680 Speaker 1: get more progressive. Well, it actually created some more centrist uh, 394 00:21:18,280 --> 00:21:21,880 Speaker 1: includes some more centrist concessions would it eventually hit the floor, 395 00:21:21,920 --> 00:21:24,399 Speaker 1: and ultimately those are the votes that Democrats laws, and 396 00:21:24,440 --> 00:21:27,400 Speaker 1: only handful of them otherwise. So I think it shows 397 00:21:27,640 --> 00:21:31,359 Speaker 1: that when particularly the squad wants to make a point, 398 00:21:31,359 --> 00:21:35,200 Speaker 1: they're going to use their um megaphone to do so. 399 00:21:35,440 --> 00:21:37,639 Speaker 1: But when it comes to effectuating votes on the floor. 400 00:21:38,000 --> 00:21:40,840 Speaker 1: They do not have a successful track records come in here? 401 00:21:41,800 --> 00:21:44,119 Speaker 1: Is there that much space between Pelosi and the squad? 402 00:21:44,200 --> 00:21:46,200 Speaker 1: Am I being a dramatic journalists, There's a lot of 403 00:21:46,240 --> 00:21:49,159 Speaker 1: space between Pelosi and the squad, and a lot of 404 00:21:49,160 --> 00:21:52,800 Speaker 1: space between the squad and who the Democratic nominee is 405 00:21:52,840 --> 00:21:54,800 Speaker 1: going to be for president. And that's really the real 406 00:21:54,880 --> 00:21:58,520 Speaker 1: danger for the Democrats about what's happened is that the 407 00:21:58,560 --> 00:22:02,120 Speaker 1: squad is sucked up all of the oxygen for Democrats 408 00:22:02,160 --> 00:22:06,159 Speaker 1: this week, and it allows President Trump to paint the 409 00:22:06,320 --> 00:22:10,000 Speaker 1: Democrats as more extreme and more far left than they 410 00:22:10,040 --> 00:22:13,080 Speaker 1: actually are because of the squad is way more left 411 00:22:13,359 --> 00:22:18,120 Speaker 1: than the eventual nominee. And I'm obsessed with the story 412 00:22:18,440 --> 00:22:22,240 Speaker 1: in the Washington Post that are Executive producer christ Team 413 00:22:22,280 --> 00:22:26,000 Speaker 1: Barada is also equally as obsessed from Mattea Gold in 414 00:22:26,040 --> 00:22:28,680 Speaker 1: the Post. She's a quote. This is the headline labor 415 00:22:28,720 --> 00:22:33,680 Speaker 1: fight Royal's Bernie Sanders campaign as workers demand the fifteen 416 00:22:33,760 --> 00:22:38,680 Speaker 1: hourly pay the candidate has proposed for employees nationwide. According 417 00:22:38,680 --> 00:22:42,080 Speaker 1: to the Post, unionized campaign organizers working for Senator Bernie 418 00:22:42,080 --> 00:22:45,359 Speaker 1: Sanders presidential effort are battling with its management. Isn't the 419 00:22:45,920 --> 00:22:49,440 Speaker 1: this is me talking? Isn't the management Bernie Sanders arguing 420 00:22:49,480 --> 00:22:52,359 Speaker 1: that the compensation and treatment they are receiving does not 421 00:22:52,480 --> 00:22:57,199 Speaker 1: meet the standards Sanders espouses in his rhetoric. According to 422 00:22:57,440 --> 00:23:07,320 Speaker 1: internal communications, I David's a fury. I mean, go ahead, 423 00:23:07,400 --> 00:23:10,000 Speaker 1: I mean your response to the minimum wage on the 424 00:23:10,040 --> 00:23:13,960 Speaker 1: Sanders campage. I'm actually speechless. The post has me speechless. Well, 425 00:23:14,000 --> 00:23:16,159 Speaker 1: I look at this story, and I also look at 426 00:23:16,160 --> 00:23:19,200 Speaker 1: the story that came out several weeks ago that Bernie 427 00:23:19,280 --> 00:23:22,640 Speaker 1: Sanders has earned a couple million dollars since the last election, 428 00:23:22,640 --> 00:23:25,280 Speaker 1: And you put those two things together, it really hurts 429 00:23:25,440 --> 00:23:29,080 Speaker 1: his image as a class crusader, as someone who's standing 430 00:23:29,160 --> 00:23:32,119 Speaker 1: up for the poor, who's fighting for the poorer classes 431 00:23:32,119 --> 00:23:35,320 Speaker 1: and for the middle class. So it shows some hypocrisy, 432 00:23:35,359 --> 00:23:38,120 Speaker 1: and I think that's really gonna hurt him, And hypocrisy 433 00:23:38,200 --> 00:23:41,320 Speaker 1: hurts every presidential candidate, except it doesn't really seem to 434 00:23:41,400 --> 00:23:44,160 Speaker 1: hurt Trump well, And I think it goes one step 435 00:23:44,200 --> 00:23:49,840 Speaker 1: further with this particular experience, because it, I think shows 436 00:23:50,119 --> 00:23:53,760 Speaker 1: that the fantasy of some of the policy solutions that 437 00:23:53,840 --> 00:23:57,080 Speaker 1: people like Bernie Sanders are supplying are a lot harder 438 00:23:57,280 --> 00:23:59,600 Speaker 1: to put into practice than they are to campaign on. Right. 439 00:23:59,640 --> 00:24:01,520 Speaker 1: I mean, if you can't even make a fifteen dollar 440 00:24:01,560 --> 00:24:04,120 Speaker 1: minimum wage to work for your campaign, which is a 441 00:24:04,160 --> 00:24:06,639 Speaker 1: small narrow pool of candidates, how are you gonna make 442 00:24:06,760 --> 00:24:08,520 Speaker 1: work for that's the country and Bernie Sanders, I think 443 00:24:08,600 --> 00:24:11,760 Speaker 1: needs to answer that question. I just think the images 444 00:24:12,160 --> 00:24:16,240 Speaker 1: of campaign employees, like, what do you call it? Occupy 445 00:24:16,320 --> 00:24:19,359 Speaker 1: Bernie Sanders campaign? I don't know. Take a listen to 446 00:24:19,400 --> 00:24:24,840 Speaker 1: what Senator Bernie Sanders said during the June nineteen uh 447 00:24:24,880 --> 00:24:27,280 Speaker 1: in Cedar Rapids IO on the campaign trail about the 448 00:24:27,280 --> 00:24:30,720 Speaker 1: issue of minimum wage. Here's Sanders. I think a seven 449 00:24:30,800 --> 00:24:33,600 Speaker 1: in the quote minimum wage right now is a starvation wage. 450 00:24:33,600 --> 00:24:36,399 Speaker 1: It isn't disgrace. Minimum wage has not been raised in 451 00:24:36,480 --> 00:24:40,120 Speaker 1: twelve years. So I am pushing very hot to make 452 00:24:40,119 --> 00:24:44,119 Speaker 1: sure that we have a minimum wage so that if 453 00:24:44,119 --> 00:24:46,440 Speaker 1: you work forty hours in this country you can live 454 00:24:46,440 --> 00:24:49,120 Speaker 1: with a shred of dignity. That's not a lot of money, 455 00:24:49,800 --> 00:24:53,199 Speaker 1: But David's a fury. What if you're working on as 456 00:24:53,280 --> 00:24:57,360 Speaker 1: presidential campaign it's and you work a lot more than 457 00:24:57,400 --> 00:25:01,639 Speaker 1: forty hours a week. Presidential campaign I know from experience, 458 00:25:01,840 --> 00:25:04,760 Speaker 1: So I mean lord knows how much time they spend, 459 00:25:04,800 --> 00:25:07,199 Speaker 1: but like you know, I mean, it's a lot of hours. 460 00:25:07,440 --> 00:25:09,960 Speaker 1: It's really odd that he can't straighten this out. And 461 00:25:10,000 --> 00:25:11,960 Speaker 1: he's raised a lot of money. This isn't a guy 462 00:25:11,960 --> 00:25:14,160 Speaker 1: at the bottom in terms of fundraising. So he's getting 463 00:25:14,160 --> 00:25:15,560 Speaker 1: a lot of money. Why can't he give it out 464 00:25:15,560 --> 00:25:17,760 Speaker 1: to his staffers. People got to wonder that well, and 465 00:25:17,840 --> 00:25:19,920 Speaker 1: the the so the problems with the minimum wage when 466 00:25:19,920 --> 00:25:22,399 Speaker 1: you look at the policy debate here is that the 467 00:25:22,400 --> 00:25:25,600 Speaker 1: elastic component of it is can be really severe. If 468 00:25:25,600 --> 00:25:27,320 Speaker 1: we were to enter an economic recession and we had 469 00:25:27,320 --> 00:25:30,119 Speaker 1: to hire minimum wage, that means fewer jobs. CBO came 470 00:25:30,119 --> 00:25:32,080 Speaker 1: out with the report last week before the House voting 471 00:25:32,080 --> 00:25:34,960 Speaker 1: on this bill saying that it made it made it 472 00:25:35,000 --> 00:25:38,199 Speaker 1: would require less net income for all earners across the 473 00:25:38,200 --> 00:25:41,320 Speaker 1: country because it lowers those sorts of opportunities. And the 474 00:25:41,359 --> 00:25:43,760 Speaker 1: bill that the House pass got rid of exceptions that 475 00:25:43,800 --> 00:25:47,119 Speaker 1: are built in for something like a campaign, something that 476 00:25:47,280 --> 00:25:51,239 Speaker 1: is on its face temporary work that wouldn't satisfy some 477 00:25:51,320 --> 00:25:54,439 Speaker 1: of the requirements of full time employment. This bill at 478 00:25:54,480 --> 00:25:56,240 Speaker 1: the House voting on got rid of those two. So 479 00:25:56,560 --> 00:25:58,280 Speaker 1: the people who you potentially might want to try and 480 00:25:58,280 --> 00:26:00,480 Speaker 1: get in the door because either they're inexperience ends, they've 481 00:26:00,520 --> 00:26:03,560 Speaker 1: worked on a volunteer basis, they're working for a campaign that, 482 00:26:03,760 --> 00:26:05,760 Speaker 1: on its face is not going to exist for how 483 00:26:05,840 --> 00:26:07,600 Speaker 1: much longer. And I'm that's not a samement about Bernie Sandarents. 484 00:26:07,600 --> 00:26:10,360 Speaker 1: I'm just saying that's a statement about campaigns. They don't last. 485 00:26:10,400 --> 00:26:14,399 Speaker 1: I'm the journalist, you're the Republicans. They don't last. But 486 00:26:14,520 --> 00:26:18,320 Speaker 1: like my point is that minimum wage requirements, particularly ones 487 00:26:18,359 --> 00:26:20,440 Speaker 1: that began the federal level, hurt those sorts of people 488 00:26:20,480 --> 00:26:22,679 Speaker 1: because they decrease the amount of flexibility that they have 489 00:26:22,720 --> 00:26:25,119 Speaker 1: in the workforce and their ability to make value from 490 00:26:25,480 --> 00:26:28,080 Speaker 1: I hear the point you're making, and just a full disclosure. 491 00:26:28,080 --> 00:26:30,600 Speaker 1: What the other side would say is, well, wait a minute, 492 00:26:30,640 --> 00:26:32,800 Speaker 1: I mean, come on, there's got to be some some 493 00:26:32,880 --> 00:26:34,639 Speaker 1: impetus on behalf of the government. I do want to 494 00:26:34,680 --> 00:26:38,120 Speaker 1: just get to this poll quickly. We're talking about NBC 495 00:26:38,600 --> 00:26:41,199 Speaker 1: NBC News out with a poll earlier this morning, and 496 00:26:41,320 --> 00:26:45,160 Speaker 1: Joe Biden still leading the Democratic presidential field among Democrats 497 00:26:45,160 --> 00:26:49,879 Speaker 1: and Democratic leaning independence. He's got Bernie Sanders. Bernie Sanders 498 00:26:49,880 --> 00:26:53,520 Speaker 1: at number two sixteen percent, locked in a dead statistical 499 00:26:53,680 --> 00:26:57,919 Speaker 1: tie with Senator Elizabeth Warren, who was also at sixteen percent, 500 00:26:57,960 --> 00:27:01,720 Speaker 1: and Kamala Harris rounding out in third place of the 501 00:27:01,760 --> 00:27:05,040 Speaker 1: fourth candidate name but in third place technically with fourteen 502 00:27:05,400 --> 00:27:07,960 Speaker 1: per cent. All the rest have less than ten. You're 503 00:27:08,000 --> 00:27:12,960 Speaker 1: listening to Sound On with Kevin Surreally on Bloomberg one 504 00:27:13,119 --> 00:27:17,359 Speaker 1: and one oh five point seven m h D two, Baltimore. Well, 505 00:27:17,440 --> 00:27:19,679 Speaker 1: it was a hot day. I mean, I guess it's 506 00:27:19,720 --> 00:27:21,800 Speaker 1: a beauty. It's always a beautiful day like you. Two 507 00:27:22,200 --> 00:27:24,800 Speaker 1: sings on one of my all time favorite albums. That 508 00:27:24,920 --> 00:27:26,879 Speaker 1: song They're always puts me in a good mood. But 509 00:27:26,920 --> 00:27:29,720 Speaker 1: it's hot, hot and human and what a wild week. 510 00:27:29,760 --> 00:27:32,280 Speaker 1: It's why I'm so thrilled to have David to Fury 511 00:27:32,359 --> 00:27:34,119 Speaker 1: here with us for the hour, his first time on 512 00:27:34,160 --> 00:27:36,240 Speaker 1: the program. Will you come back, David, I'd love to 513 00:27:36,280 --> 00:27:38,320 Speaker 1: come back. Okay, you're on the record. He's on the record. 514 00:27:38,320 --> 00:27:40,640 Speaker 1: He's coming back. He's the former. He's a former State 515 00:27:40,720 --> 00:27:44,280 Speaker 1: Department official and also a former advisor to the Obama campaign. 516 00:27:44,280 --> 00:27:47,359 Speaker 1: Mattie Doubler here. She's a senior fellow at the National 517 00:27:47,400 --> 00:27:51,760 Speaker 1: Taxpayers Union, former Coalitions director for the House Republican Conference. 518 00:27:51,800 --> 00:27:54,680 Speaker 1: I'm Kevin s REALI chief Washington correspondent for Bloomberg Television 519 00:27:54,960 --> 00:27:58,359 Speaker 1: and Bloomberg Radio. We're gonna be talking more about Mueller 520 00:27:59,119 --> 00:28:05,280 Speaker 1: next week when he finally testifies on Capitol Hill. So 521 00:28:05,880 --> 00:28:08,120 Speaker 1: I don't know. I mean, I think every word will 522 00:28:08,160 --> 00:28:11,240 Speaker 1: be you know, gleamed, and it's gonna be like the 523 00:28:11,320 --> 00:28:14,280 Speaker 1: Fed when we like try and watch every single word 524 00:28:14,440 --> 00:28:16,480 Speaker 1: that J. Powell says. It's going to be like that 525 00:28:16,800 --> 00:28:20,760 Speaker 1: Muller watched trying to divine exactly what the verb tense 526 00:28:20,760 --> 00:28:23,000 Speaker 1: he used means in the Granders game. And now this 527 00:28:23,080 --> 00:28:25,520 Speaker 1: is how you gotta stand out. You gotta know your audience, 528 00:28:25,560 --> 00:28:28,120 Speaker 1: Maddie Dublin, and that I can't think of any other 529 00:28:28,280 --> 00:28:30,720 Speaker 1: real estate in Washington, d C. Where we would be 530 00:28:30,760 --> 00:28:34,639 Speaker 1: like Mueller Day is gonna be like, I love it, 531 00:28:34,840 --> 00:28:37,400 Speaker 1: I got it. I'm with you. I totally agree. What's 532 00:28:37,440 --> 00:28:39,800 Speaker 1: on your radar, David for next week? Well, at the 533 00:28:39,840 --> 00:28:42,960 Speaker 1: beginning of this week, we thought the US was going 534 00:28:43,040 --> 00:28:46,160 Speaker 1: to sanction Turkey, and it was going to sanction Turkey 535 00:28:46,200 --> 00:28:49,200 Speaker 1: because Turkey has finally accepted the first shipment of these 536 00:28:49,400 --> 00:28:52,560 Speaker 1: S four hundred rockets from Russia. This is a provocation. 537 00:28:52,880 --> 00:28:55,120 Speaker 1: Turkey is a member of NATO. The fact that it's 538 00:28:55,120 --> 00:28:58,080 Speaker 1: not using US made equipment and it's going to Russia. 539 00:28:58,120 --> 00:29:00,600 Speaker 1: It's a big problem for the US and or NATO. 540 00:29:00,840 --> 00:29:04,680 Speaker 1: But somehow the sanctions didn't happen, and that's the big question. Well, 541 00:29:05,000 --> 00:29:07,880 Speaker 1: I think most people in the State Department, Treasury, Department, 542 00:29:07,920 --> 00:29:10,440 Speaker 1: Department Defense wanted this to happen. So I have to 543 00:29:10,520 --> 00:29:13,680 Speaker 1: guess that President Trump had either overruled it or has 544 00:29:13,720 --> 00:29:17,160 Speaker 1: at least delayed it. There's a big deal also for 545 00:29:17,280 --> 00:29:19,840 Speaker 1: the world economy, because Turkey is a big player in 546 00:29:19,840 --> 00:29:23,000 Speaker 1: the world economy, especially in the Middle East, Turkey's relationship 547 00:29:23,040 --> 00:29:26,840 Speaker 1: with Russia, and how given its standing in NATO. I mean, 548 00:29:27,440 --> 00:29:31,640 Speaker 1: it's like Turkey's playing everybody because a year ago, at 549 00:29:31,720 --> 00:29:34,040 Speaker 1: this time, we were worried about Turkey going into a 550 00:29:34,080 --> 00:29:36,680 Speaker 1: recession so deep that no central bank could pull it 551 00:29:36,680 --> 00:29:38,440 Speaker 1: out of it, like we're talking about contagion fears, and 552 00:29:38,480 --> 00:29:39,720 Speaker 1: I thought was going to be the rest of the region. 553 00:29:40,800 --> 00:29:42,840 Speaker 1: I find it fascinating because Turkey kind of comes and 554 00:29:42,880 --> 00:29:46,040 Speaker 1: goes on our domestic political radar. But to your point, David, 555 00:29:46,080 --> 00:29:48,280 Speaker 1: it is hugely important and we need me paying better 556 00:29:48,320 --> 00:29:51,160 Speaker 1: attention to it. So I actually want to call attention 557 00:29:51,200 --> 00:29:52,560 Speaker 1: to a piece that was in the New York Times 558 00:29:52,640 --> 00:29:56,000 Speaker 1: yesterday saying that drug overdose deaths dropped in the US 559 00:29:56,040 --> 00:29:59,440 Speaker 1: for the first time since Yeah, I've seen this isn't 560 00:29:59,440 --> 00:30:01,360 Speaker 1: the first at a point on this this is such 561 00:30:01,400 --> 00:30:03,160 Speaker 1: good news. Well, and that's the thing I wanted to 562 00:30:03,160 --> 00:30:05,920 Speaker 1: bring that up, because, again, Kevin, we are the eternal optimists. 563 00:30:05,920 --> 00:30:07,560 Speaker 1: We want to end on some good news here. But 564 00:30:07,600 --> 00:30:09,320 Speaker 1: I do think that we talk a lot about the 565 00:30:09,400 --> 00:30:12,080 Speaker 1: drug challenges that we have in this country. We need 566 00:30:12,120 --> 00:30:14,320 Speaker 1: to acknowledge when there's are some improvements made so we 567 00:30:14,360 --> 00:30:17,080 Speaker 1: can identify how we continue to fix this problem. That 568 00:30:17,160 --> 00:30:19,280 Speaker 1: is certainly a good data point to how we talked 569 00:30:19,280 --> 00:30:22,160 Speaker 1: about this when you testified, I think either in the 570 00:30:22,200 --> 00:30:25,480 Speaker 1: Senator of the House just last week when he said 571 00:30:25,520 --> 00:30:28,120 Speaker 1: that if you look at the unemployment in working men 572 00:30:28,920 --> 00:30:32,120 Speaker 1: and the rate of addiction, it's just tragic, and yeah, 573 00:30:32,200 --> 00:30:34,520 Speaker 1: more has to be done that that should be zero. 574 00:30:34,560 --> 00:30:37,960 Speaker 1: We should have zero addiction rate in the United States. 575 00:30:38,000 --> 00:30:41,160 Speaker 1: You know what's on my radar? Well, first of all, 576 00:30:41,160 --> 00:30:44,240 Speaker 1: no joking aside, Iran very much on my radar for 577 00:30:44,400 --> 00:30:48,720 Speaker 1: the next seventy two hours, especially as we're still following 578 00:30:48,760 --> 00:30:53,480 Speaker 1: the story with the Iranian authorities seizing two vessels Friday 579 00:30:53,520 --> 00:30:57,920 Speaker 1: in the straight of hor muse and it comes following 580 00:30:58,120 --> 00:31:02,040 Speaker 1: the President's decision to shoot down a drone, and so 581 00:31:02,080 --> 00:31:05,640 Speaker 1: the escalating tensions between the US and Iran still very 582 00:31:05,720 --> 00:31:09,200 Speaker 1: much on the minds of many Americans tonight. Uh. And then, 583 00:31:09,240 --> 00:31:11,960 Speaker 1: but really, like the other the side show not I 584 00:31:11,960 --> 00:31:13,800 Speaker 1: mean talking about a pivot. This is a terrible pivot. 585 00:31:14,080 --> 00:31:16,239 Speaker 1: But the side show is this face app thing. If 586 00:31:16,240 --> 00:31:18,600 Speaker 1: you guys heard about this now, Chuck Schumer once an 587 00:31:18,600 --> 00:31:22,000 Speaker 1: investigation can't make it up. You've got face app. They're concerned. 588 00:31:22,040 --> 00:31:25,640 Speaker 1: It's this thing. Everyone's taken selfies, like Kardashian selfies. They're 589 00:31:25,680 --> 00:31:28,200 Speaker 1: taking selfies and then it like makes you look old? 590 00:31:28,480 --> 00:31:31,600 Speaker 1: Why would you want to see yourself looking at Agree 591 00:31:31,640 --> 00:31:33,600 Speaker 1: with you, Kevin. My family was all using us. They're 592 00:31:33,600 --> 00:31:35,360 Speaker 1: sending their selfies back and forth like, man, do you 593 00:31:35,400 --> 00:31:38,120 Speaker 1: do it? I'm like, no, I I am delaying that 594 00:31:38,160 --> 00:31:41,720 Speaker 1: inevitability that allegedly is like orchestra. First of all, this 595 00:31:41,800 --> 00:31:44,040 Speaker 1: is like only the Russians would be like, let us 596 00:31:44,120 --> 00:31:48,080 Speaker 1: develop an app so that you can see yourself old 597 00:31:48,760 --> 00:31:51,680 Speaker 1: and then we'll get what data are they even getting? David, Well, 598 00:31:51,720 --> 00:31:54,800 Speaker 1: it's pretty brilliant, right, I mean it plays into just 599 00:31:54,880 --> 00:31:57,600 Speaker 1: how venal we are all are. We want to look 600 00:31:57,720 --> 00:31:59,800 Speaker 1: into the mirror at father time and see what we'll 601 00:31:59,800 --> 00:32:01,920 Speaker 1: look like. And from what I can tell from friends 602 00:32:01,920 --> 00:32:05,240 Speaker 1: and and and associates, you've done it. It's really accurate. 603 00:32:05,440 --> 00:32:07,720 Speaker 1: It looks makes them look like what I think they 604 00:32:07,720 --> 00:32:09,520 Speaker 1: are going to look like when they're old. And I'd 605 00:32:09,520 --> 00:32:11,280 Speaker 1: like to see those pictures later on when they're old 606 00:32:11,360 --> 00:32:18,360 Speaker 1: and see if it got it right. I'm less, but 607 00:32:18,360 --> 00:32:21,400 Speaker 1: it's but literally, like no joking, the fact that this 608 00:32:21,520 --> 00:32:25,240 Speaker 1: that the Russians allegedly have injected this viral app into 609 00:32:25,280 --> 00:32:29,280 Speaker 1: American culture so quickly, and it penetrated so effectively, and 610 00:32:29,320 --> 00:32:33,880 Speaker 1: now sentiment already Leader Chuck Schumer once an investigation. I mean, 611 00:32:34,400 --> 00:32:36,800 Speaker 1: that's that's all I got. That sigh is where I'm at. 612 00:32:37,160 --> 00:32:38,880 Speaker 1: That we gotta leave it there, you gotta leave it there. 613 00:32:38,880 --> 00:32:40,760 Speaker 1: I want to thank everybody. I want to thank David's 614 00:32:40,760 --> 00:32:44,640 Speaker 1: a fury, Maddie Duppler. It's always great having you on 615 00:32:45,360 --> 00:32:47,920 Speaker 1: and I appreciate you coming on. And that's it for me. 616 00:32:47,960 --> 00:32:50,320 Speaker 1: Download the sound on podcast on Apple Chains and Bloomberg 617 00:32:50,400 --> 00:32:52,760 Speaker 1: dot com, or by downloading the Bloomberg Business app. You 618 00:32:52,760 --> 00:32:55,000 Speaker 1: can also find us on Radio dot com, I Heart Radio, 619 00:32:55,000 --> 00:33:02,320 Speaker 1: and Spotify. You're listening to bloomberg S