1
00:00:00,880 --> 00:00:04,320
Speaker 1: You're listening to the Bloomberg Sound On podcast. Catch us

2
00:00:04,400 --> 00:00:07,520
Speaker 1: live weekdays at one Eastern on Bloomberg dot com, the

3
00:00:07,640 --> 00:00:10,719
Speaker 1: iHeartRadio app and the Bloomberg Business app, or listen on

4
00:00:10,800 --> 00:00:12,840
Speaker 1: demand wherever you get your podcasts.

5
00:00:13,920 --> 00:00:16,680
Speaker 2: And Welcome to the Thursday edition of Bloomberg Sound On.

6
00:00:16,760 --> 00:00:20,239
Speaker 2: I'm Joe Matthew in Washington. Welcome to Little Friday. The

7
00:00:20,280 --> 00:00:22,720
Speaker 2: headline says it all as usual on the terminal Biden

8
00:00:22,800 --> 00:00:28,240
Speaker 2: she meeting, delivers small wins and promises of better ties. This,

9
00:00:28,320 --> 00:00:30,600
Speaker 2: of course, coming off the big meat yesterday. We talked

10
00:00:30,600 --> 00:00:32,839
Speaker 2: about it here on sound On. We brought you the

11
00:00:32,840 --> 00:00:36,199
Speaker 2: president's news conference last evening. We were up late last night,

12
00:00:36,240 --> 00:00:37,919
Speaker 2: weren't we. I'm glad that you were with us here

13
00:00:37,960 --> 00:00:41,320
Speaker 2: because we walked through this whole exercise of the deliverables,

14
00:00:41,360 --> 00:00:43,599
Speaker 2: what was accomplished, and at the very end of that,

15
00:00:44,479 --> 00:00:47,600
Speaker 2: it always happens in the last question at these news conferences.

16
00:00:49,320 --> 00:00:52,040
Speaker 2: Maybe you heard this already, Joe Biden being asked at

17
00:00:52,080 --> 00:00:56,279
Speaker 2: the very end of his news conference, just as he's

18
00:00:56,320 --> 00:00:56,840
Speaker 2: walking out.

19
00:00:56,760 --> 00:00:57,040
Speaker 1: Of the room.

20
00:00:57,120 --> 00:00:59,720
Speaker 3: Listen today, she's still before its press.

21
00:01:00,080 --> 00:01:03,920
Speaker 4: The assidates years to form any news earlier this year.

22
00:01:04,120 --> 00:01:06,160
Speaker 5: Well, look he is I mean, he's a dictator in

23
00:01:06,160 --> 00:01:08,800
Speaker 5: the sense that he is a guy who runs the

24
00:01:08,840 --> 00:01:10,240
Speaker 5: country that is.

25
00:01:12,080 --> 00:01:14,919
Speaker 2: Based on the sum of government totally different than ours.

26
00:01:15,600 --> 00:01:17,880
Speaker 2: Let's get into it for a minute with Ian Marlow Bloomberg,

27
00:01:17,959 --> 00:01:20,280
Speaker 2: senior reporter with us at the table here in Washington, meaning,

28
00:01:20,319 --> 00:01:22,440
Speaker 2: great to see you, Thanks for coming back on here.

29
00:01:22,440 --> 00:01:24,400
Speaker 2: I remember the last time the president used that word.

30
00:01:24,760 --> 00:01:28,319
Speaker 2: This is why everyone stopped down, because it caused problems.

31
00:01:29,600 --> 00:01:31,920
Speaker 2: President she doesn't like to be referred to as a dictator,

32
00:01:31,920 --> 00:01:35,240
Speaker 2: even if it does meet the definition in the dictionary.

33
00:01:35,720 --> 00:01:37,360
Speaker 2: Was that a calculated statement?

34
00:01:38,120 --> 00:01:38,400
Speaker 5: I don't.

35
00:01:38,520 --> 00:01:40,479
Speaker 6: I mean, it's hard to tell with with with Biden,

36
00:01:40,560 --> 00:01:42,280
Speaker 6: some of the some of the gaffes that come out,

37
00:01:42,319 --> 00:01:46,080
Speaker 6: but this it was a firm reminder that despite the agreements,

38
00:01:46,120 --> 00:01:49,520
Speaker 6: despite the sort of general bonomis that you saw, these

39
00:01:49,560 --> 00:01:53,480
Speaker 6: are still competitive rivals the US in China. There's no

40
00:01:53,640 --> 00:01:57,440
Speaker 6: change there. These agreements were were interesting, and we can

41
00:01:57,480 --> 00:02:00,640
Speaker 6: talk about that, but sort of surface level things that

42
00:02:01,080 --> 00:02:04,880
Speaker 6: do nothing to really change the sort of worsening geopolitical

43
00:02:05,160 --> 00:02:07,720
Speaker 6: rivalry that you have between the US and China. And

44
00:02:08,000 --> 00:02:10,440
Speaker 6: his remark is a sort of stark reminder of that

45
00:02:10,520 --> 00:02:13,920
Speaker 6: it's also a stark reminder of the domestic pressure that

46
00:02:13,960 --> 00:02:15,960
Speaker 6: he feels when it comes to the China relationships.

47
00:02:15,960 --> 00:02:18,679
Speaker 2: Well, that's where this was being aimed obviously, right, and

48
00:02:19,000 --> 00:02:20,960
Speaker 2: President she had his own version of that if you

49
00:02:21,040 --> 00:02:24,200
Speaker 2: read the readout that came from Beijing kind of scolding

50
00:02:24,240 --> 00:02:28,000
Speaker 2: the US for Taiwan among other things. But let's talk

51
00:02:28,040 --> 00:02:32,000
Speaker 2: about what was constructive here when it comes to counter narcotics,

52
00:02:32,240 --> 00:02:35,079
Speaker 2: when it comes to military to military operations, the fact

53
00:02:35,120 --> 00:02:37,480
Speaker 2: that they were even in the same room, all of

54
00:02:37,480 --> 00:02:39,120
Speaker 2: those are kind of a big deal, are they not.

55
00:02:39,800 --> 00:02:43,400
Speaker 6: Yeah, there's been a really intensive, sort of six month process,

56
00:02:43,560 --> 00:02:46,880
Speaker 6: starting with Secretary of State Anthony Blinkn's trip to Beijing

57
00:02:46,960 --> 00:02:49,640
Speaker 6: back in June, which sort of unlocked all these cabinet

58
00:02:49,720 --> 00:02:52,640
Speaker 6: level visits where clearly it seems they were saving up

59
00:02:52,680 --> 00:02:55,720
Speaker 6: some of the big deliverables for the big you know,

60
00:02:55,800 --> 00:02:58,680
Speaker 6: the meeting of the bosses to some extent, and what

61
00:02:58,720 --> 00:03:02,040
Speaker 6: we saw was actually pretty interesting. I mean, on the

62
00:03:02,080 --> 00:03:05,600
Speaker 6: domestic front, fentanyl and the opioid crisis in the US

63
00:03:05,760 --> 00:03:09,960
Speaker 6: is a huge issue for Biden in this administration. Blinken

64
00:03:10,000 --> 00:03:13,000
Speaker 6: has made it a huge point of contact with his

65
00:03:13,120 --> 00:03:17,600
Speaker 6: Chinese counterparts, and on the other side, the restoring military

66
00:03:17,600 --> 00:03:20,440
Speaker 6: to military communications. This was something that actually, I don't

67
00:03:20,480 --> 00:03:23,120
Speaker 6: think many people up until the last week when things

68
00:03:23,120 --> 00:03:25,880
Speaker 6: started trickling out, that many people expected. I think a

69
00:03:25,880 --> 00:03:28,560
Speaker 6: lot of people thought China did not want to play

70
00:03:28,560 --> 00:03:32,800
Speaker 6: ball on having the militaries work more closely together, because

71
00:03:32,800 --> 00:03:35,640
Speaker 6: that means it would give the US confidence to sort

72
00:03:35,680 --> 00:03:39,560
Speaker 6: of come into Asia with their military even more than

73
00:03:39,560 --> 00:03:41,600
Speaker 6: they are already and just make sure that they can

74
00:03:41,640 --> 00:03:44,480
Speaker 6: do it without causing a conflict. So it wasn't something

75
00:03:44,560 --> 00:03:47,160
Speaker 6: that seemed to be in China's interest to do it.

76
00:03:47,240 --> 00:03:50,200
Speaker 6: So both of these developments are actually fairly interesting when

77
00:03:50,240 --> 00:03:51,280
Speaker 6: it comes to that fascinating.

78
00:03:51,480 --> 00:03:53,880
Speaker 2: We appreciate your perspective very much. Ian. Let's get you

79
00:03:53,880 --> 00:03:55,440
Speaker 2: in here a lot more often. Ian Marlow find his

80
00:03:55,480 --> 00:03:57,440
Speaker 2: work on the Terminal and at Bloomberg dot Com. Appreciate

81
00:03:57,480 --> 00:04:00,440
Speaker 2: the reporting and the perspective. As we add the wressman

82
00:04:00,440 --> 00:04:04,240
Speaker 2: to the conversation, Jake Auchincloss joins now the Democrat from Massachusetts,

83
00:04:04,640 --> 00:04:07,080
Speaker 2: who of course brings a unique view to what we're

84
00:04:07,120 --> 00:04:10,360
Speaker 2: talking about here as a member of the China Select Committee.

85
00:04:10,480 --> 00:04:12,840
Speaker 2: And we'll get to some other issues here as well.

86
00:04:12,960 --> 00:04:15,160
Speaker 2: Congressman that I know that you'll probably want to talk

87
00:04:15,160 --> 00:04:17,880
Speaker 2: about here, but I wonder your thoughts having seen the

88
00:04:17,880 --> 00:04:21,000
Speaker 2: president across the country and actually sit down with the

89
00:04:21,080 --> 00:04:24,680
Speaker 2: leader of the world's second largest economy. Let's start with

90
00:04:24,760 --> 00:04:29,360
Speaker 2: military to military communications. Will that prevent more close calls?

91
00:04:29,440 --> 00:04:31,839
Speaker 2: For instance, in the South China Sea. How much progress

92
00:04:31,880 --> 00:04:32,839
Speaker 2: did you see yesterday?

93
00:04:34,880 --> 00:04:37,400
Speaker 4: It's progress. Whether it prevents close calls is up to

94
00:04:37,440 --> 00:04:39,720
Speaker 4: the People's Liberation Army. They're the ones who have been

95
00:04:39,760 --> 00:04:44,159
Speaker 4: aggressive unprofessional in their behavior in the South China Sea

96
00:04:44,200 --> 00:04:48,359
Speaker 4: and the Taiwan Straight What it can definitely help prevent, though,

97
00:04:48,640 --> 00:04:53,400
Speaker 4: is those close calls accidentally escalating into a shooting match.

98
00:04:53,800 --> 00:04:55,400
Speaker 5: Neither side wants war.

99
00:04:55,600 --> 00:04:59,320
Speaker 4: We need to reduce the chances for conflict, particularly inadvertent conflict,

100
00:04:59,520 --> 00:05:03,680
Speaker 4: and having mill to mill ties not just at the

101
00:05:03,680 --> 00:05:06,159
Speaker 4: political leadership level, but really at the field grade and

102
00:05:06,240 --> 00:05:10,760
Speaker 4: general grade levels can reduce misunderstandings and allow these situations

103
00:05:11,000 --> 00:05:15,120
Speaker 4: to be diffused. That's just good global governance for both sets.

104
00:05:17,040 --> 00:05:20,800
Speaker 2: Counter narcotics also on the agenda, I know that your

105
00:05:20,839 --> 00:05:24,400
Speaker 2: state of Massachusetts, my former home, is no stranger to

106
00:05:24,480 --> 00:05:28,080
Speaker 2: the impact of fentanyl. That is getting very good reviews

107
00:05:28,120 --> 00:05:31,440
Speaker 2: here in an agreement to continue talks over the climate Congressman,

108
00:05:31,480 --> 00:05:33,800
Speaker 2: should there have been more progress when it comes to

109
00:05:33,839 --> 00:05:36,200
Speaker 2: climate or is that just a bridge too far in

110
00:05:36,240 --> 00:05:38,840
Speaker 2: the first meeting in so long.

111
00:05:40,760 --> 00:05:44,599
Speaker 4: Well, China has recognized that reducing carbon emissions is in

112
00:05:44,680 --> 00:05:47,560
Speaker 4: its own interests and has committed to taking bolder and

113
00:05:47,600 --> 00:05:50,600
Speaker 4: more aggressive action. There's no doubt though, that the bigger

114
00:05:50,680 --> 00:05:53,440
Speaker 4: near term win was the fentanyl accord. Now, I don't

115
00:05:53,480 --> 00:05:56,440
Speaker 4: trust China on this issue. They have previously made commitments

116
00:05:56,480 --> 00:05:59,240
Speaker 4: that they have not followed through on. But I'm somebody

117
00:05:59,320 --> 00:06:02,240
Speaker 4: who commands a special operations mission to Panama working with

118
00:06:02,640 --> 00:06:05,760
Speaker 4: other countries to help with drug intradiction. I have seen

119
00:06:05,800 --> 00:06:10,480
Speaker 4: firsthand the importance of having international assistance and combating drug trade,

120
00:06:10,839 --> 00:06:14,599
Speaker 4: and it is critical that China cracks down on the

121
00:06:14,640 --> 00:06:17,920
Speaker 4: export of basic ingredients for fentanyl production by the Mexican

122
00:06:18,000 --> 00:06:21,240
Speaker 4: drug cartels. So even if they are only incremental or

123
00:06:21,240 --> 00:06:24,360
Speaker 4: haphazard in their implementation of this agreement, it will still

124
00:06:24,400 --> 00:06:27,880
Speaker 4: help stem the inflow of opioids and will save American lives.

125
00:06:27,920 --> 00:06:29,000
Speaker 4: This is a win for the President.

126
00:06:31,320 --> 00:06:33,360
Speaker 2: I've got to ask you about the dictator remark before

127
00:06:33,400 --> 00:06:35,960
Speaker 2: I move on because I'm guessing that there were on

128
00:06:36,000 --> 00:06:39,839
Speaker 2: a lot of members, maybe including yourself, on the China

129
00:06:39,880 --> 00:06:42,520
Speaker 2: Select Committee, who wanted to hear some language like that.

130
00:06:43,240 --> 00:06:46,599
Speaker 2: Obviously we need to work together to some point, but

131
00:06:46,680 --> 00:06:48,720
Speaker 2: we also want to keep a hard line when it

132
00:06:48,720 --> 00:06:51,680
Speaker 2: comes to China. Was that a helpful remark or not.

133
00:06:53,520 --> 00:06:57,160
Speaker 4: It's a valid remark. Xijinging is a dictator. He is

134
00:06:57,680 --> 00:07:01,600
Speaker 4: turning his country towards totalitarianism. He views individuals as ponds

135
00:07:01,640 --> 00:07:04,120
Speaker 4: of the state. The United States recognizes the inherent value

136
00:07:04,120 --> 00:07:06,440
Speaker 4: and dignity of individuals, not just in America, but in

137
00:07:06,800 --> 00:07:09,520
Speaker 4: Ukraine and in Taiwan and in Israel, and we will

138
00:07:09,520 --> 00:07:13,720
Speaker 4: defend democracy at home and abroad. There are clear divides

139
00:07:13,800 --> 00:07:16,960
Speaker 4: over values that we will contest in the twenty first century.

140
00:07:17,160 --> 00:07:19,280
Speaker 4: So while we want to be smart in our competition

141
00:07:19,360 --> 00:07:21,720
Speaker 4: with China, and we want to find those military to

142
00:07:21,760 --> 00:07:24,400
Speaker 4: military de escalation points, we want to find those accords

143
00:07:24,400 --> 00:07:27,240
Speaker 4: on fentanyl, on public health, on climate, We're going to

144
00:07:27,280 --> 00:07:29,760
Speaker 4: be strong too. We're going to be strong too. We're

145
00:07:29,760 --> 00:07:31,440
Speaker 4: going to be strong in our military posture in the

146
00:07:31,440 --> 00:07:33,480
Speaker 4: Indo Pacific. We're going to be strong in our diplomatic

147
00:07:33,520 --> 00:07:37,120
Speaker 4: posture with South Korea and Japan and the Philippines in Australia,

148
00:07:37,720 --> 00:07:40,360
Speaker 4: and we're going to be strong in articulating and defending

149
00:07:40,400 --> 00:07:41,000
Speaker 4: our values.

150
00:07:43,240 --> 00:07:47,160
Speaker 2: Spending time with Congressman Auckin Closs here on Bloomberg sound On,

151
00:07:47,520 --> 00:07:51,320
Speaker 2: just a day after the Senate voted to pass the

152
00:07:51,360 --> 00:07:54,120
Speaker 2: stopgap measure, the Continuing Resolution that passed the House of

153
00:07:54,160 --> 00:07:58,040
Speaker 2: Representatives without your support. Congressman, I know that you had

154
00:07:58,080 --> 00:08:01,560
Speaker 2: a lot of concerns about the process looking for funding

155
00:08:01,600 --> 00:08:05,679
Speaker 2: for Israel and Ukraine as well. What actually made you vote?

156
00:08:05,680 --> 00:08:09,640
Speaker 4: Know, in Washington, a member is only as good as

157
00:08:09,640 --> 00:08:12,120
Speaker 4: his word. When I last voted to bail out the

158
00:08:12,160 --> 00:08:16,160
Speaker 4: GOP from their dysfunction in September by voting yes on

159
00:08:16,240 --> 00:08:18,840
Speaker 4: their Continuing Resolution, I said it was the last time

160
00:08:19,000 --> 00:08:23,240
Speaker 4: until I saw clear, concrete, incredible plans to support Ukraine,

161
00:08:23,640 --> 00:08:25,920
Speaker 4: and in the interim Israel has come under attacks. So

162
00:08:25,960 --> 00:08:28,560
Speaker 4: now we have to support Ukraine and Israel, both of

163
00:08:28,600 --> 00:08:30,400
Speaker 4: whom are fighting on the frontlines of the free world

164
00:08:30,440 --> 00:08:33,720
Speaker 4: against tyranny and against terror. And the GOP instead of

165
00:08:33,720 --> 00:08:38,840
Speaker 4: putting forward robust funding to defend democracy, instead of just

166
00:08:38,920 --> 00:08:41,360
Speaker 4: careening from crisis to crisis, so I could not put

167
00:08:41,360 --> 00:08:44,760
Speaker 4: my vote towards this stop gap short term spending measure

168
00:08:45,080 --> 00:08:48,480
Speaker 4: that fails to meet the moment, and the onus now

169
00:08:48,559 --> 00:08:52,480
Speaker 4: is on the House Republican Conference and the Senate Republican

170
00:08:52,520 --> 00:08:56,640
Speaker 4: Conference to negotiate in good faith on border security policy,

171
00:08:56,800 --> 00:08:59,720
Speaker 4: on Ukraine AID so that we can unlock a bipartisan

172
00:08:59,720 --> 00:09:02,600
Speaker 4: and in Greece to get the whole package passed before

173
00:09:02,600 --> 00:09:07,520
Speaker 4: the holidays, not just Israel, but Taiwan, Ukraine border security.

174
00:09:07,120 --> 00:09:12,800
Speaker 2: Altogether before the holidays is an important part of that statement, Congressman,

175
00:09:12,880 --> 00:09:15,680
Speaker 2: that would be quite a maneuver. It might set a

176
00:09:15,720 --> 00:09:19,160
Speaker 2: land speed record in the I believe twenty legislative days

177
00:09:19,679 --> 00:09:22,560
Speaker 2: that we have left here between now and a potential

178
00:09:22,559 --> 00:09:25,280
Speaker 2: government shut down in January. You think that'll be handled

179
00:09:25,320 --> 00:09:28,160
Speaker 2: before the government is funded for the next fiscal year.

180
00:09:28,160 --> 00:09:30,160
Speaker 2: Though we don't have to wait months and months to

181
00:09:30,200 --> 00:09:31,480
Speaker 2: hear about Israel and Ukraine.

182
00:09:32,960 --> 00:09:35,600
Speaker 4: It should be Nobody should be breaking for the holidays

183
00:09:35,679 --> 00:09:41,599
Speaker 4: until our allies have the materiel and humanitarian support necessary

184
00:09:41,920 --> 00:09:47,240
Speaker 4: to continue defending their democracies. And it's doable. The Senate

185
00:09:47,280 --> 00:09:49,560
Speaker 4: is passing paper back and forth right now. We understand

186
00:09:49,600 --> 00:09:52,520
Speaker 4: what the unlock would be, and that is negotiations on

187
00:09:52,559 --> 00:09:55,000
Speaker 4: border security policy. I have been early and strong in

188
00:09:55,080 --> 00:09:58,800
Speaker 4: support of those negotiations. I understand that some Democrats are

189
00:09:58,800 --> 00:10:02,440
Speaker 4: calcentrant on seeding anything on border security policy changes.

190
00:10:02,920 --> 00:10:03,760
Speaker 5: I see it differently.

191
00:10:03,800 --> 00:10:06,120
Speaker 4: I think that we really should be looking to upgrade

192
00:10:06,120 --> 00:10:08,600
Speaker 4: and improve border security because it's not secure right now.

193
00:10:08,600 --> 00:10:11,600
Speaker 4: Despite the President's best efforts, despite his actions within the

194
00:10:11,640 --> 00:10:15,040
Speaker 4: bounds of law and humanity, the border is seeing crossings

195
00:10:15,040 --> 00:10:18,360
Speaker 4: that far outpace the infrastructure it has to handle them.

196
00:10:18,559 --> 00:10:20,640
Speaker 4: And we do need more funding. We do need to

197
00:10:20,679 --> 00:10:23,320
Speaker 4: make changes there. It's going to be a compromise, but

198
00:10:23,480 --> 00:10:26,760
Speaker 4: that's the point of Congress is to craft governance that

199
00:10:26,800 --> 00:10:28,079
Speaker 4: gets to eighty percent answers.

200
00:10:29,520 --> 00:10:33,560
Speaker 2: You're here from your lips to God's ears when it

201
00:10:33,559 --> 00:10:35,640
Speaker 2: comes to a number of these issues and the potential

202
00:10:35,720 --> 00:10:38,600
Speaker 2: for Democrats and Republicans to work together in this new

203
00:10:38,600 --> 00:10:42,600
Speaker 2: structure here. Congressman, you're a combat veteran. You know what

204
00:10:42,640 --> 00:10:46,680
Speaker 2: it's like to walk with a rifle in your hand

205
00:10:46,679 --> 00:10:50,080
Speaker 2: and lead an infantry division. Obviously, your experience in Afghanistan

206
00:10:50,120 --> 00:10:52,679
Speaker 2: and you just mentioned Panama speaks to that. And I

207
00:10:52,760 --> 00:10:54,880
Speaker 2: wonder if you could shed light on what's happening now

208
00:10:54,920 --> 00:10:58,319
Speaker 2: in Gaza. We've been hearing from the administration a message

209
00:10:58,320 --> 00:11:02,520
Speaker 2: of restraint, of very deep concern about civilian lives, but

210
00:11:02,559 --> 00:11:06,800
Speaker 2: also an Israeli army, the individual soldiers who are in

211
00:11:07,200 --> 00:11:11,319
Speaker 2: great danger walking into Gaza city. What's your thought.

212
00:11:13,000 --> 00:11:18,240
Speaker 4: Military operations on urban terrain are the most challenging of

213
00:11:18,280 --> 00:11:21,240
Speaker 4: any format to execute. And now the IDF is not

214
00:11:21,360 --> 00:11:24,040
Speaker 4: just going door to door, it's literally going room to room,

215
00:11:24,120 --> 00:11:26,880
Speaker 4: and it's going room to room having to discern between

216
00:11:27,280 --> 00:11:32,040
Speaker 4: non combatants and combatants because Hamas uses Palestinian denizens as

217
00:11:32,120 --> 00:11:36,559
Speaker 4: human shields. Hamas is holding hostages in underground tunnels. Hamas

218
00:11:36,600 --> 00:11:41,079
Speaker 4: is storing munitions and command and control centers threaded through

219
00:11:41,520 --> 00:11:46,000
Speaker 4: civilian infrastructure like hospitals and schools. So the IDF has

220
00:11:46,040 --> 00:11:49,640
Speaker 4: a daunting task before it. It needs to hold itself

221
00:11:49,640 --> 00:11:51,960
Speaker 4: to the law of arm conflict, which requires distinction and

222
00:11:52,000 --> 00:11:56,560
Speaker 4: necessity and proportionality. It also needs to aggressively execute its priorities,

223
00:11:56,559 --> 00:12:00,680
Speaker 4: which are number one, rescuing those hostages. Number two destroying Hamas.

224
00:12:00,920 --> 00:12:05,160
Speaker 4: Destroying Hamas, no cease fire, no truce with terrorists. Hamas

225
00:12:05,160 --> 00:12:07,760
Speaker 4: needs to be dismantled. And then number three is helping

226
00:12:07,800 --> 00:12:11,480
Speaker 4: to architect just post war governance for Gaza, and I'm

227
00:12:11,480 --> 00:12:13,760
Speaker 4: going to continue to be strongly in support of our

228
00:12:13,840 --> 00:12:18,080
Speaker 4: ally as they defend the Jewish homeland and their citizens.

229
00:12:18,920 --> 00:12:21,280
Speaker 2: Well, you know, we've got a fascinating story from our

230
00:12:21,559 --> 00:12:26,200
Speaker 2: Pentagon reporter, Congressman that the Defense Department is already ramping

231
00:12:26,280 --> 00:12:29,840
Speaker 2: up military aid to Israel beyond what we've heard about

232
00:12:29,840 --> 00:12:32,520
Speaker 2: in terms of the Iron Dome and the smart bombs

233
00:12:32,559 --> 00:12:36,200
Speaker 2: from Boeing, but in fact, more laser guided missiles for

234
00:12:36,440 --> 00:12:39,880
Speaker 2: Apache gunships, one hundred and fifty five millimeters shells, night

235
00:12:40,000 --> 00:12:45,520
Speaker 2: vision devices, bunker buster munitions, even the new vs hum

236
00:12:45,679 --> 00:12:49,839
Speaker 2: v's rather and Switchblade drones. Outside of all of this,

237
00:12:50,200 --> 00:12:52,760
Speaker 2: does Israel need more than that? What would the supplemental

238
00:12:52,800 --> 00:12:54,079
Speaker 2: bring that it's not already getting.

239
00:12:55,720 --> 00:12:57,839
Speaker 4: I can't speak to the tactical needs of Israel. I'm

240
00:12:57,880 --> 00:13:01,640
Speaker 4: just not close enough to their operations. I have great

241
00:13:01,640 --> 00:13:05,200
Speaker 4: confidence in the Pentagon, based on my briefings with them,

242
00:13:05,440 --> 00:13:08,960
Speaker 4: that they are doing hourly assessments and close collaboration with

243
00:13:09,000 --> 00:13:13,000
Speaker 4: the IDF based on long standing relationships of trust to

244
00:13:13,040 --> 00:13:16,400
Speaker 4: discern what IDF needs, and so part of this is

245
00:13:16,440 --> 00:13:19,360
Speaker 4: going to be sending aid ammunitions to the IDEF and

246
00:13:19,400 --> 00:13:21,320
Speaker 4: part of it's going to be backfilling our own supplies

247
00:13:21,640 --> 00:13:24,560
Speaker 4: to ensure that we are ready come what may, because

248
00:13:24,600 --> 00:13:27,199
Speaker 4: as we see when the President had to deploy two

249
00:13:27,480 --> 00:13:30,360
Speaker 4: carrier strike group to the Eastern Mediterranean, the nine to

250
00:13:30,360 --> 00:13:32,440
Speaker 4: one one calls can come any hour of the day,

251
00:13:32,600 --> 00:13:34,679
Speaker 4: and the United States needs to be ready to defend

252
00:13:34,679 --> 00:13:35,360
Speaker 4: the global order.

253
00:13:36,360 --> 00:13:38,280
Speaker 2: Well, you know what that's like firsthand. And I have

254
00:13:38,320 --> 00:13:41,240
Speaker 2: to ask you before you leave about Ukraine, because some

255
00:13:41,280 --> 00:13:44,120
Speaker 2: would argue that the needs are in fact more desperate

256
00:13:44,200 --> 00:13:47,840
Speaker 2: in Ukraine and if we roll into next year, their

257
00:13:47,920 --> 00:13:51,640
Speaker 2: efforts to defend themselves could in fact be interrupted by

258
00:13:51,880 --> 00:13:54,720
Speaker 2: a lack of funding. Is that how you see it?

259
00:13:56,200 --> 00:13:58,280
Speaker 4: The window of opportunity is closing. I don't want to

260
00:13:58,280 --> 00:14:01,160
Speaker 4: put a date on it, but there's no doubt that

261
00:14:01,160 --> 00:14:03,719
Speaker 4: the window of opportunity heading into an election years, the

262
00:14:04,040 --> 00:14:08,760
Speaker 4: Republican Conference is increasingly subservient to the isolationism and fifth

263
00:14:08,840 --> 00:14:13,199
Speaker 4: columnism of Tucker Carlson and Donald Trump. That we are

264
00:14:13,240 --> 00:14:15,640
Speaker 4: losing the political capital and Congress to fund our ally

265
00:14:15,679 --> 00:14:18,960
Speaker 4: and it's unacceptable. They are fighting on the front lines

266
00:14:19,040 --> 00:14:22,840
Speaker 4: of the free world right now for about ten percent

267
00:14:23,120 --> 00:14:26,640
Speaker 4: of the Pentagon's annual budget. We have cratered half of

268
00:14:26,680 --> 00:14:28,480
Speaker 4: Russia's conventional military capacity.

269
00:14:28,480 --> 00:14:29,800
Speaker 5: We have doubled NATO's border.

270
00:14:29,960 --> 00:14:32,840
Speaker 4: We've induced greater defense spending from our allies in Europe

271
00:14:32,880 --> 00:14:35,280
Speaker 4: and the Indo Pacific. This has been a tremendous return

272
00:14:35,320 --> 00:14:38,640
Speaker 4: on investment for national security dollars, and it has signaled

273
00:14:38,640 --> 00:14:41,720
Speaker 4: not just to Vladimir Putin, but also do zijingping that

274
00:14:41,840 --> 00:14:44,320
Speaker 4: America is always going to stand with right over might,

275
00:14:44,760 --> 00:14:48,480
Speaker 4: and that message resonates. I assure you that they are

276
00:14:48,520 --> 00:14:52,600
Speaker 4: watching closely congressional actions on Ukraine in Beijing as well

277
00:14:52,600 --> 00:14:53,320
Speaker 4: as in the Kremlin.

278
00:14:57,760 --> 00:15:01,000
Speaker 1: You're listening to The Bloomberg Sound on pun Cast. Catch

279
00:15:01,040 --> 00:15:04,800
Speaker 1: the program live weekdays at one Eastern on Bloomberg Radio,

280
00:15:04,960 --> 00:15:07,720
Speaker 1: the tune in app, Bloomberg dot Com, and the Bloomberg

281
00:15:07,760 --> 00:15:11,040
Speaker 1: Business App. You can also listen live on Amazon Alexa

282
00:15:11,120 --> 00:15:14,040
Speaker 1: from our flagship New York station, Just say Alexa.

283
00:15:14,320 --> 00:15:17,320
Speaker 2: With all the gyrations and chaos we've seen in the

284
00:15:17,320 --> 00:15:20,880
Speaker 2: House of Representatives the past couple of weeks, I've been

285
00:15:20,920 --> 00:15:23,440
Speaker 2: known to say, look no further than the Chair of

286
00:15:23,480 --> 00:15:26,400
Speaker 2: the Admin Committee if you want stability. His name is

287
00:15:26,440 --> 00:15:29,200
Speaker 2: Brian Style. The congressman from Wisconsin joins us right now,

288
00:15:29,200 --> 00:15:32,040
Speaker 2: and it's good to see you. Congressman. You've been a

289
00:15:32,080 --> 00:15:34,520
Speaker 2: reliable voice through this whole thing from your perch, not

290
00:15:34,560 --> 00:15:36,840
Speaker 2: only as head of the Admin Committee, by the way,

291
00:15:36,880 --> 00:15:39,520
Speaker 2: google it, you'll see how important that is, but also

292
00:15:39,880 --> 00:15:43,520
Speaker 2: your service on the Financial Services Committee, the fact that

293
00:15:43,560 --> 00:15:46,080
Speaker 2: you helped to tally the votes for our new speaker.

294
00:15:46,120 --> 00:15:49,120
Speaker 2: I remember seeing you in the Speaker's rostrum on those

295
00:15:49,160 --> 00:15:53,200
Speaker 2: important days. I wonder your thoughts today as your colleagues

296
00:15:53,240 --> 00:15:55,360
Speaker 2: head home for the holidays. The government's not going to

297
00:15:55,440 --> 00:15:58,680
Speaker 2: shut down. Was this an important week in getting your

298
00:15:58,680 --> 00:15:59,440
Speaker 2: conference together?

299
00:16:00,360 --> 00:16:03,040
Speaker 7: Well, another frustrating week, I think is to where we

300
00:16:03,080 --> 00:16:05,920
Speaker 7: are in the House of Representatives in Congress writ large.

301
00:16:06,240 --> 00:16:08,640
Speaker 7: The good news is is we were successful in keeping

302
00:16:08,680 --> 00:16:13,200
Speaker 7: the government funded, open and operational. We could have seen

303
00:16:13,360 --> 00:16:15,880
Speaker 7: another shutdown that doesn't actually help anybody, and at the

304
00:16:15,960 --> 00:16:18,120
Speaker 7: end of the day, we actually spend more money to

305
00:16:18,120 --> 00:16:20,280
Speaker 7: shut the federal government down than we do to keep

306
00:16:20,320 --> 00:16:20,880
Speaker 7: it open.

307
00:16:21,280 --> 00:16:22,840
Speaker 5: And so it's been challenging times.

308
00:16:22,880 --> 00:16:26,920
Speaker 7: But the good news is maybe this Thanksgiving week ahead

309
00:16:26,960 --> 00:16:29,120
Speaker 7: will give everybody a time to kind of calm down,

310
00:16:29,120 --> 00:16:32,760
Speaker 7: and cooler heads will prevail because there's huge challenges facing

311
00:16:32,880 --> 00:16:34,400
Speaker 7: us when Washington gets back to work.

312
00:16:35,360 --> 00:16:37,040
Speaker 2: Well, there sure are, and I don't have to tell

313
00:16:37,080 --> 00:16:40,160
Speaker 2: you what everyone's saying. We just prolong the inevitable. We're

314
00:16:40,160 --> 00:16:42,480
Speaker 2: going to shut down again in January. Are you worried

315
00:16:42,480 --> 00:16:46,080
Speaker 2: that there's not enough time with this continuing resolution to

316
00:16:46,080 --> 00:16:46,920
Speaker 2: figure all this out?

317
00:16:47,960 --> 00:16:50,000
Speaker 7: Well, I think there is sufficient time, But I think

318
00:16:50,000 --> 00:16:51,400
Speaker 7: people have to come to the table and have an

319
00:16:51,440 --> 00:16:54,800
Speaker 7: adult conversation and figure out how we're going to navigate this.

320
00:16:55,040 --> 00:16:57,880
Speaker 7: And so the federal spending process has been broken for

321
00:16:57,920 --> 00:17:00,840
Speaker 7: a long time on Capitol Hill, or trying to follow

322
00:17:00,880 --> 00:17:03,320
Speaker 7: what we call regular order, which simply means following a

323
00:17:03,400 --> 00:17:07,399
Speaker 7: law those passing nineteen seventy four that hasn't worked terribly well.

324
00:17:07,680 --> 00:17:09,159
Speaker 7: What we need to do is get a little bit

325
00:17:09,200 --> 00:17:12,480
Speaker 7: more serious here in Washington about what programs we can

326
00:17:12,640 --> 00:17:15,560
Speaker 7: actually afford to fund in which ones we can't. But

327
00:17:15,640 --> 00:17:18,480
Speaker 7: also a broader conversation that's seventy five percent of all

328
00:17:18,480 --> 00:17:21,919
Speaker 7: federal government spending is on autopilot. We're only having this

329
00:17:22,000 --> 00:17:24,280
Speaker 7: part of the debate a federal government spending on twenty

330
00:17:24,280 --> 00:17:26,520
Speaker 7: five percent of the total federal budget.

331
00:17:26,520 --> 00:17:28,320
Speaker 3: No business would operate this way.

332
00:17:28,560 --> 00:17:31,560
Speaker 7: And it adds a unique challenge here on Capitol Hill.

333
00:17:31,720 --> 00:17:33,720
Speaker 2: You know, I'm hearing more and more and more people

334
00:17:33,800 --> 00:17:36,400
Speaker 2: talk about that, but when you talk to anyone running

335
00:17:36,440 --> 00:17:40,520
Speaker 2: for president, they won't touch it. The Speaker might not

336
00:17:40,600 --> 00:17:42,880
Speaker 2: be ready to touch that either. The last one certainly

337
00:17:43,000 --> 00:17:46,400
Speaker 2: was not swearing off Medicare and Social Security and talk

338
00:17:46,440 --> 00:17:48,600
Speaker 2: about prolonging the inevitable. At some point, we're going to

339
00:17:48,680 --> 00:17:51,080
Speaker 2: have to get to this, Congressman, and if it were

340
00:17:51,160 --> 00:17:53,080
Speaker 2: up to you, would it be part of this process

341
00:17:53,119 --> 00:17:55,560
Speaker 2: starting next year? How long do we have to manage

342
00:17:55,560 --> 00:17:56,600
Speaker 2: this well?

343
00:17:56,640 --> 00:17:59,720
Speaker 7: I do think Speaker Mike Johnson actually hit the nail

344
00:17:59,720 --> 00:18:01,199
Speaker 7: on the head and was willing to bring it up.

345
00:18:01,200 --> 00:18:03,640
Speaker 7: In his first speech as he became Speaker of the House,

346
00:18:04,000 --> 00:18:06,560
Speaker 7: he discussed the importance of having a debt commission, bringing

347
00:18:06,560 --> 00:18:09,480
Speaker 7: Democrats and Republicans together to say we need to get

348
00:18:09,520 --> 00:18:12,639
Speaker 7: serious about the fiscal challenges that we're facing. And I

349
00:18:12,640 --> 00:18:16,159
Speaker 7: think the debt commission model actually works quite well, but

350
00:18:16,240 --> 00:18:19,040
Speaker 7: it does take the political heft of everyone coming to

351
00:18:19,080 --> 00:18:21,880
Speaker 7: the table to say we're actually going to get this done.

352
00:18:22,080 --> 00:18:24,119
Speaker 7: What's the biggest driver of that. I think it's the

353
00:18:25,720 --> 00:18:28,520
Speaker 7: rising interest costs on the debt, the carry costs if

354
00:18:28,560 --> 00:18:32,000
Speaker 7: you're in the financial markets becoming more and more serious.

355
00:18:32,080 --> 00:18:34,680
Speaker 7: Is we see interest payments on the debt approaching a

356
00:18:34,800 --> 00:18:35,640
Speaker 7: trillion dollars.

357
00:18:37,400 --> 00:18:39,439
Speaker 2: I know you don't want to have this conversation, but

358
00:18:39,480 --> 00:18:41,520
Speaker 2: there are two sides to this. You can cut spending

359
00:18:41,600 --> 00:18:43,680
Speaker 2: or you can raise revenues. Does the Ways and Means

360
00:18:43,680 --> 00:18:44,800
Speaker 2: Committee play a role here?

361
00:18:46,000 --> 00:18:48,680
Speaker 7: An absolutely critical role at Ways and Means. I wouldn't

362
00:18:48,680 --> 00:18:51,159
Speaker 7: lose sight though, of the fact that economic growth is

363
00:18:51,200 --> 00:18:52,960
Speaker 7: going to be a key driver. So if we look

364
00:18:53,040 --> 00:18:56,679
Speaker 7: back coming into the pandemic, what we actually saw was

365
00:18:56,720 --> 00:19:01,399
Speaker 7: economic growth driving tax tax revenue high, not by raising

366
00:19:01,560 --> 00:19:04,560
Speaker 7: rates in taxes, but rather by growing the economy. That

367
00:19:04,680 --> 00:19:06,840
Speaker 7: is our best path forward to grow ourselves out of this.

368
00:19:07,200 --> 00:19:09,320
Speaker 7: That alone isn't going to solve all the problems, but

369
00:19:09,359 --> 00:19:10,919
Speaker 7: it's got to be part of the conversation.

370
00:19:12,080 --> 00:19:14,080
Speaker 2: But don't make it a lot easier. Were you a

371
00:19:14,119 --> 00:19:16,560
Speaker 2: fan of this idea of the laddered cr the fact

372
00:19:16,600 --> 00:19:19,240
Speaker 2: that we're looking at two dates. I've asked so many

373
00:19:19,280 --> 00:19:23,120
Speaker 2: people this Congressman, what the benefit is where that or

374
00:19:23,160 --> 00:19:26,119
Speaker 2: how that advantages the speaker or the Republican Conference or

375
00:19:26,119 --> 00:19:27,400
Speaker 2: maybe I'm looking at it the wrong way.

376
00:19:28,760 --> 00:19:32,200
Speaker 7: I don't think it's a massively significant difference. It maybe

377
00:19:32,320 --> 00:19:34,880
Speaker 7: does give us an opportunity to break these apart and say,

378
00:19:34,960 --> 00:19:38,280
Speaker 7: let's start getting some of the twelve spending bills across

379
00:19:38,320 --> 00:19:40,879
Speaker 7: the line. Everyone that we get done is a step

380
00:19:40,880 --> 00:19:42,640
Speaker 7: in the right direction. I would say the biggest win

381
00:19:43,160 --> 00:19:46,359
Speaker 7: on this stopgap measures that avoids a Christmas Eve spending

382
00:19:46,359 --> 00:19:49,679
Speaker 7: bill going through where every ornament is on the Christmas tree.

383
00:19:50,640 --> 00:19:53,800
Speaker 2: That's right. Well, you know that there's some big ornaments

384
00:19:53,840 --> 00:19:56,320
Speaker 2: out there. I actually really probably shouldn't call them that

385
00:19:56,359 --> 00:19:59,200
Speaker 2: because they're off the serious and I'm referring to the

386
00:19:59,240 --> 00:20:01,919
Speaker 2: supplemental record. We talked about it earlier this hour with

387
00:20:02,400 --> 00:20:07,679
Speaker 2: your colleague Jake Auchincloss from Massachusetts, Israel, Ukraine, Taiwan, and border.

388
00:20:07,760 --> 00:20:10,840
Speaker 2: You're probably getting tired of hearing guys like me rattle

389
00:20:10,840 --> 00:20:13,040
Speaker 2: this off. But I wonder if there will be an

390
00:20:13,080 --> 00:20:16,040
Speaker 2: opportunity to pass these in one block, or if the

391
00:20:16,119 --> 00:20:19,679
Speaker 2: Speaker has the right approach here Congressmen and vote on

392
00:20:19,760 --> 00:20:21,240
Speaker 2: each of them individually.

393
00:20:22,359 --> 00:20:24,600
Speaker 7: I think we're best served if we break them apart.

394
00:20:24,640 --> 00:20:27,199
Speaker 7: I think we have a true opportunity to get the

395
00:20:27,320 --> 00:20:29,919
Speaker 7: Israel funding through to make sure that we're providing the

396
00:20:29,960 --> 00:20:33,480
Speaker 7: resources Israel needs as it defends itself against the terrorist

397
00:20:33,520 --> 00:20:36,440
Speaker 7: attacks that occurred from Hamas. I think as we look

398
00:20:36,440 --> 00:20:38,560
Speaker 7: to the Ukraine funding, it's more likely that that it's

399
00:20:38,680 --> 00:20:42,760
Speaker 7: the end of the day, gets combined with true border security.

400
00:20:43,000 --> 00:20:45,200
Speaker 7: Make sure that we secure the US Mexico border is

401
00:20:45,240 --> 00:20:48,800
Speaker 7: of absolute paramount importance, and I think as we look

402
00:20:48,840 --> 00:20:53,080
Speaker 7: at that opportunity, we may see that ultimately paired with

403
00:20:53,119 --> 00:20:55,840
Speaker 7: the Ukraine funding, is a mechanism of forcing the Bite

404
00:20:55,880 --> 00:20:59,480
Speaker 7: administration to truly change course on its border policies.

405
00:21:00,320 --> 00:21:02,200
Speaker 2: I almost wish we could have you on together because

406
00:21:02,280 --> 00:21:05,879
Speaker 2: Jake Auchincloss, who is an ally of this White House

407
00:21:06,520 --> 00:21:11,960
Speaker 2: from big blue Massachusetts, is very open to having that conversation.

408
00:21:12,080 --> 00:21:13,840
Speaker 2: He told us on the air that Democrats need to

409
00:21:13,840 --> 00:21:16,160
Speaker 2: come to the table on border security. It's about time,

410
00:21:16,200 --> 00:21:20,040
Speaker 2: he said. The crossings are simply too high. So if

411
00:21:20,040 --> 00:21:22,679
Speaker 2: you were sitting here now, where would just start. We

412
00:21:22,720 --> 00:21:24,520
Speaker 2: hear from a lot of Republicans Congress and they say

413
00:21:24,560 --> 00:21:27,760
Speaker 2: the border's open. Obviously that's not literal, but how would

414
00:21:27,800 --> 00:21:32,159
Speaker 2: you start to lower the flow of illegal immigrants crossing

415
00:21:32,160 --> 00:21:32,560
Speaker 2: the border?

416
00:21:33,680 --> 00:21:34,440
Speaker 5: Jake's a friend of mine.

417
00:21:34,480 --> 00:21:36,600
Speaker 7: We actually discussed this on the House floor last week,

418
00:21:36,640 --> 00:21:39,000
Speaker 7: so it's funny you bring it up. I think there's

419
00:21:39,000 --> 00:21:42,240
Speaker 7: some pretty straight I think there's some pretty straightforward policies

420
00:21:42,600 --> 00:21:45,320
Speaker 7: that we could move forward on, in particular, a stay

421
00:21:45,320 --> 00:21:47,720
Speaker 7: in Mexico policy, which tells people who want to apply

422
00:21:47,800 --> 00:21:50,359
Speaker 7: for asylum that it's better and safer to remain in

423
00:21:50,400 --> 00:21:53,479
Speaker 7: your home country when that application process goes through. What

424
00:21:53,560 --> 00:21:57,320
Speaker 7: we do know is the overwhelming majority of individuals who

425
00:21:57,400 --> 00:21:59,720
Speaker 7: have a claim for asylum, when those claims are finally

426
00:21:59,720 --> 00:22:02,240
Speaker 7: a mudicated, they're found out to not be with merit.

427
00:22:02,680 --> 00:22:04,840
Speaker 7: The challenges those claims are often not heard for three

428
00:22:04,840 --> 00:22:07,600
Speaker 7: to four years, So a stay in Mexico policy is

429
00:22:07,640 --> 00:22:10,359
Speaker 7: actually the right policy. That's the Trump Aero policy. The

430
00:22:10,440 --> 00:22:13,720
Speaker 7: other piece of this is critical funding for border security.

431
00:22:13,760 --> 00:22:18,280
Speaker 7: The border patrol agents are currently understaffed, they're underfunded, and

432
00:22:18,359 --> 00:22:20,000
Speaker 7: we need to get serious in those regards. And the

433
00:22:20,200 --> 00:22:22,800
Speaker 7: third piece that I think should have some people being

434
00:22:22,880 --> 00:22:25,240
Speaker 7: willing to come together is to say we need more

435
00:22:25,320 --> 00:22:28,280
Speaker 7: judges to adjudicate the cases that are already here and

436
00:22:28,320 --> 00:22:29,280
Speaker 7: in the pipeline.

437
00:22:29,400 --> 00:22:30,439
Speaker 3: People deserve their day.

438
00:22:30,440 --> 00:22:33,040
Speaker 7: Of course, they truly do have an asylum claim, there

439
00:22:33,119 --> 00:22:35,800
Speaker 7: is a path for that, but again, the overwhelming majority

440
00:22:35,800 --> 00:22:39,719
Speaker 7: of individuals crossing illegally don't actually have a claim that

441
00:22:39,920 --> 00:22:43,200
Speaker 7: is validated when it's actually adjudicated on the merits.

442
00:22:43,920 --> 00:22:46,359
Speaker 2: So we've made some important distinctions here, and I would

443
00:22:46,400 --> 00:22:49,439
Speaker 2: love to have you and Congressman Ackenclass join at some

444
00:22:49,520 --> 00:22:51,680
Speaker 2: point here on Bloomberg to talk this out. Maybe we'll

445
00:22:51,720 --> 00:22:53,199
Speaker 2: move the needle on it a little bit. And I

446
00:22:53,280 --> 00:22:57,960
Speaker 2: just wonder if there's a point in making the difference

447
00:22:57,960 --> 00:23:02,760
Speaker 2: here distinguishing between border siksecurity and immigration policy, because this

448
00:23:02,880 --> 00:23:06,320
Speaker 2: is obviously an incredibly tight labor market in this country,

449
00:23:06,600 --> 00:23:10,360
Speaker 2: and we need immigrants from other countries, in many cases

450
00:23:10,840 --> 00:23:12,920
Speaker 2: very smart people to help us in the high tech space,

451
00:23:12,960 --> 00:23:15,880
Speaker 2: in other cases with manual labor that we can't get

452
00:23:15,920 --> 00:23:18,159
Speaker 2: other people to do. Is that not part of this

453
00:23:18,240 --> 00:23:19,159
Speaker 2: debate or should it be?

454
00:23:20,600 --> 00:23:22,399
Speaker 7: It's got to be part of the conversation because we

455
00:23:22,480 --> 00:23:25,840
Speaker 7: have both a broken legal immigration system as well as

456
00:23:25,840 --> 00:23:29,440
Speaker 7: a broken illegal immigration system. The challenge is that under

457
00:23:29,480 --> 00:23:31,520
Speaker 7: the past two and a half years under the Biden administration,

458
00:23:31,880 --> 00:23:35,439
Speaker 7: the broken illegal immigration system has gotten so bad that

459
00:23:35,520 --> 00:23:37,720
Speaker 7: we need to address that before we can really have

460
00:23:37,800 --> 00:23:41,400
Speaker 7: the conversation that is needed about fixing the broken legal

461
00:23:41,440 --> 00:23:44,360
Speaker 7: immigration system. And in many ways, as we look at

462
00:23:44,359 --> 00:23:47,439
Speaker 7: what's playing out right now, our current asylum laws are

463
00:23:47,440 --> 00:23:51,120
Speaker 7: being abused by individuals to the benefit of illegal immigration.

464
00:23:51,200 --> 00:23:53,800
Speaker 7: In many ways, the Mexican drug cartels that are now

465
00:23:53,800 --> 00:23:57,400
Speaker 7: making money trafficking individuals in the United States of America,

466
00:23:57,480 --> 00:24:00,800
Speaker 7: and so breaking that system of the illegal imigranation side

467
00:24:00,960 --> 00:24:03,399
Speaker 7: is going to be absolutely essential before we can really

468
00:24:03,680 --> 00:24:06,320
Speaker 7: get the political half to the work done to address

469
00:24:06,359 --> 00:24:08,480
Speaker 7: the broken legal immigration system.

470
00:24:09,359 --> 00:24:13,639
Speaker 2: Well, we definitely covered some important ground there, and the

471
00:24:13,640 --> 00:24:15,680
Speaker 2: fact of the matter is you can't get anything done

472
00:24:16,560 --> 00:24:19,440
Speaker 2: without a convincing majority here, or at least it's a

473
00:24:19,480 --> 00:24:22,520
Speaker 2: lot more difficult. And the Speaker Johnson mentioned recently in

474
00:24:22,560 --> 00:24:26,320
Speaker 2: an interview on Fox that it might actually happen that

475
00:24:26,920 --> 00:24:29,320
Speaker 2: you lose a member, that you lose a seat in

476
00:24:29,359 --> 00:24:31,680
Speaker 2: an already thin majority, And I wonder if you're worried

477
00:24:31,720 --> 00:24:33,879
Speaker 2: that that might be George Santas of New York we

478
00:24:33,960 --> 00:24:36,520
Speaker 2: heard from the Ethics Committee today. I'm sure it's not

479
00:24:36,560 --> 00:24:38,840
Speaker 2: a fun thing to talk about, Congressman, but there seems

480
00:24:38,840 --> 00:24:42,520
Speaker 2: to be another effort to expel the gentleman from New York,

481
00:24:42,680 --> 00:24:43,639
Speaker 2: You think that's going to happen.

482
00:24:44,880 --> 00:24:47,600
Speaker 7: The Ethics Committee came out just a couple hours ago

483
00:24:47,720 --> 00:24:49,840
Speaker 7: with their findings of fact. I think I owe it

484
00:24:49,840 --> 00:24:52,760
Speaker 7: to the Ethics Committee and to the constituents in New

485
00:24:52,880 --> 00:24:55,920
Speaker 7: York a full review of that report. But I can

486
00:24:55,960 --> 00:25:00,000
Speaker 7: tell you the top line is incredibly concerning. The all

487
00:25:00,000 --> 00:25:02,560
Speaker 7: submit a punishment that could be handed out as expulsion,

488
00:25:03,119 --> 00:25:06,040
Speaker 7: and I'm going to review the report before finalizing that decision,

489
00:25:06,040 --> 00:25:08,640
Speaker 7: but I can tell you the illegal actions that are

490
00:25:08,960 --> 00:25:11,800
Speaker 7: set forward in this report are incredibly concerning.

491
00:25:12,960 --> 00:25:17,359
Speaker 2: Are you, colleagues, is he part of the conference? Do

492
00:25:17,440 --> 00:25:19,480
Speaker 2: you guys see each other at meetings? Or is he

493
00:25:19,960 --> 00:25:21,960
Speaker 2: in his office with the door closed. That's been the

494
00:25:22,000 --> 00:25:23,400
Speaker 2: experience for reporters.

495
00:25:24,320 --> 00:25:24,560
Speaker 3: Yeah.

496
00:25:24,720 --> 00:25:28,400
Speaker 7: I don't have a deep relationship with him, and obviously

497
00:25:28,440 --> 00:25:30,639
Speaker 7: he's occasionally on the House floor when we have votes,

498
00:25:31,160 --> 00:25:32,120
Speaker 7: as are all four.

499
00:25:32,119 --> 00:25:33,520
Speaker 3: Hundred and thirty five members.

500
00:25:33,920 --> 00:25:35,560
Speaker 7: But again, I think people are going to review this

501
00:25:35,720 --> 00:25:38,040
Speaker 7: on the merits, on the facts, and I think that's

502
00:25:38,080 --> 00:25:40,119
Speaker 7: what we owe it to the American people, but in

503
00:25:40,160 --> 00:25:41,480
Speaker 7: particular his constituents.

504
00:25:42,040 --> 00:25:44,480
Speaker 3: If the final decision is to expel him from Congress.

505
00:25:45,600 --> 00:25:48,760
Speaker 2: Understood, when you come back to town, assuming you're going

506
00:25:48,760 --> 00:25:51,720
Speaker 2: to get back to Wisconsin at some point, Congressman, what's

507
00:25:51,760 --> 00:25:54,200
Speaker 2: the first order of business you're going to have roughly

508
00:25:54,240 --> 00:25:59,520
Speaker 2: twenty legislative days when you come back to the potential

509
00:25:59,560 --> 00:26:02,359
Speaker 2: shutdown to the time this cr expires. How do you

510
00:26:02,400 --> 00:26:03,760
Speaker 2: start by getting your arms around it?

511
00:26:04,880 --> 00:26:08,200
Speaker 7: As we look out coming back from Thanksgiving and Congress

512
00:26:08,200 --> 00:26:10,919
Speaker 7: getting back to work, getting our funding bills, which are

513
00:26:10,920 --> 00:26:14,000
Speaker 7: already behind the deadline. Getting those done is going to

514
00:26:14,000 --> 00:26:16,040
Speaker 7: be absolutely essential. We've got to do that. At the

515
00:26:16,080 --> 00:26:19,280
Speaker 7: same time is looking at the US national security situation.

516
00:26:19,760 --> 00:26:24,080
Speaker 7: Particulars are relates to both Israel and Ukraine and US

517
00:26:24,160 --> 00:26:27,639
Speaker 7: Mexico border policy. All of that has to be accomplished

518
00:26:27,680 --> 00:26:30,000
Speaker 7: before the end of the year to be successful. It's

519
00:26:30,040 --> 00:26:33,119
Speaker 7: a lot on our plate, but getting the stopgap measure

520
00:26:33,200 --> 00:26:36,800
Speaker 7: through this week, I think really improves our opportunity to

521
00:26:36,880 --> 00:26:39,399
Speaker 7: be able to spend the time and attention as needed

522
00:26:39,800 --> 00:26:41,200
Speaker 7: to address those when we come.

523
00:26:41,040 --> 00:26:44,439
Speaker 2: Back, well, I hope that it's a very happy and

524
00:26:44,560 --> 00:26:48,359
Speaker 2: healthy Thanksgiving for you and your family in the first

525
00:26:48,480 --> 00:26:52,080
Speaker 2: District of Wisconsin. Congressman, I hope you get home soon enough.

526
00:26:52,680 --> 00:26:55,280
Speaker 2: Same goes for your staff thanks for being here for

527
00:26:55,400 --> 00:26:57,960
Speaker 2: us to answer not only the easy ones, but the

528
00:26:58,000 --> 00:27:00,919
Speaker 2: tough ones. Sometimes. It's good to see you, Brian Style

529
00:27:00,960 --> 00:27:03,399
Speaker 2: with us the Congressman here on Bloomberg. Sound on It.

530
00:27:07,880 --> 00:27:11,280
Speaker 1: You're listening to the Bloomberg Sound On podcast. Catch the

531
00:27:11,320 --> 00:27:15,199
Speaker 1: program live weekdays at one Eastern on Bloomberg Radio, the

532
00:27:15,240 --> 00:27:18,600
Speaker 1: tune in alf Bloomberg dot Com, and the Bloomberg Business App.

533
00:27:18,720 --> 00:27:21,560
Speaker 1: You can also listen live on Amazon Alexa from our

534
00:27:21,600 --> 00:27:27,920
Speaker 1: flagship New York station, Just say Alexa play Bloomberg eleven thirty.

535
00:27:27,880 --> 00:27:30,560
Speaker 2: Two years ago yesterday, I want you to just dial

536
00:27:30,680 --> 00:27:35,119
Speaker 2: back in your brain. Where were you when Scores sat

537
00:27:35,160 --> 00:27:39,480
Speaker 2: on a very chilly and bright north lawn of the

538
00:27:39,520 --> 00:27:41,520
Speaker 2: White House. Actually, I guess it was on the south

539
00:27:41,600 --> 00:27:46,080
Speaker 2: lawn for a massive signing ceremony in which President Biden

540
00:27:46,200 --> 00:27:50,280
Speaker 2: reminded us of the prior administration and how we continued

541
00:27:50,320 --> 00:27:52,439
Speaker 2: to try to celebrate infrastructure week. Well, now it's been

542
00:27:52,480 --> 00:27:55,919
Speaker 2: infrastructure two years and joining us to get things started

543
00:27:55,960 --> 00:27:58,919
Speaker 2: here before we bring in Secretary Pete Bodhajedge is our

544
00:27:58,960 --> 00:28:02,040
Speaker 2: buddy Jordan Fabian from Bloomberg's White House team. Were you

545
00:28:02,080 --> 00:28:03,560
Speaker 2: on the lawn for that? Were you following the pull

546
00:28:03,600 --> 00:28:06,399
Speaker 2: reports that day. You might not. I was not. I

547
00:28:06,440 --> 00:28:08,720
Speaker 2: was spared the cold weather. Yes, was in the warm

548
00:28:08,760 --> 00:28:12,320
Speaker 2: confinell One thing you did do was endure months and

549
00:28:12,640 --> 00:28:15,600
Speaker 2: months of debate and wrangling over this thing. A lot

550
00:28:15,600 --> 00:28:18,360
Speaker 2: of folks started to think it wouldn't even be possible.

551
00:28:18,600 --> 00:28:21,480
Speaker 2: It ended up being a bipartisan an affair. I think

552
00:28:21,480 --> 00:28:24,800
Speaker 2: we can call it that. They're enough desent ours to

553
00:28:24,840 --> 00:28:27,840
Speaker 2: call it that, but it's one that was not embraced

554
00:28:27,840 --> 00:28:30,879
Speaker 2: by a lot of Republicans who've since been celebrating the

555
00:28:31,000 --> 00:28:34,280
Speaker 2: arrival of money to their states. And I think President

556
00:28:34,320 --> 00:28:37,200
Speaker 2: Biden might have predicted that, but that's the way Washington works.

557
00:28:37,240 --> 00:28:39,880
Speaker 2: Is this the crowning achievement for this administration?

558
00:28:40,800 --> 00:28:44,240
Speaker 8: It's definitely up there with the Inflation Reduction Act and

559
00:28:44,320 --> 00:28:47,440
Speaker 8: the COVID rescue plan that he passed early on.

560
00:28:47,960 --> 00:28:48,800
Speaker 2: That's the trinity.

561
00:28:48,920 --> 00:28:50,600
Speaker 8: Yeah, I would say those are the big three, if

562
00:28:50,640 --> 00:28:55,000
Speaker 8: you will, Yeah, to make a sports analogy, and I

563
00:28:55,040 --> 00:28:57,720
Speaker 8: think that the president you'll apply see him try to

564
00:28:57,760 --> 00:29:00,400
Speaker 8: campaign on this as part of the way that he's

565
00:29:00,400 --> 00:29:03,640
Speaker 8: going to try and convince Americans that the economy's heading

566
00:29:03,680 --> 00:29:06,720
Speaker 8: in the right direction under his leadership. But it's not

567
00:29:06,800 --> 00:29:10,080
Speaker 8: going to be easy, because wow, this is a big achievement.

568
00:29:10,160 --> 00:29:12,640
Speaker 8: A lot of these projects that were funded by this

569
00:29:12,720 --> 00:29:15,400
Speaker 8: law are going to take months and years to get

570
00:29:15,440 --> 00:29:20,440
Speaker 8: off the ground, and so Americans aren't necessarily seeing the

571
00:29:20,560 --> 00:29:24,160
Speaker 8: byproduct of this law yet. But you know, five ten

572
00:29:24,200 --> 00:29:28,600
Speaker 8: years from now, when Amtrak might be running smoother, the

573
00:29:28,640 --> 00:29:33,280
Speaker 8: highway might have a fewer potholes, a new bridges in town.

574
00:29:33,800 --> 00:29:35,800
Speaker 8: That's when you'll see the effects. But is it too

575
00:29:35,880 --> 00:29:38,840
Speaker 8: late for him politically with twenty twenty four staring him

576
00:29:39,240 --> 00:29:39,720
Speaker 8: down the way?

577
00:29:39,720 --> 00:29:39,880
Speaker 1: Here?

578
00:29:39,960 --> 00:29:42,200
Speaker 2: That's the real stuff, right, That's the stuff that people

579
00:29:42,200 --> 00:29:45,880
Speaker 2: see and are impacted by. But how many years is

580
00:29:45,920 --> 00:29:48,239
Speaker 2: the implementation? We can talk to the secretary about this

581
00:29:48,440 --> 00:29:49,640
Speaker 2: in a moment. Do you have a sense of me?

582
00:29:49,800 --> 00:29:51,400
Speaker 2: Is this over the course of the next decade you're

583
00:29:51,400 --> 00:29:54,840
Speaker 2: going to see cranes popping up around the country. Absolutely.

584
00:29:55,320 --> 00:29:58,560
Speaker 8: Look for example, at the Amtrak announcement that he made.

585
00:29:58,760 --> 00:30:00,520
Speaker 8: I believe it was last week you went to an

586
00:30:00,560 --> 00:30:06,400
Speaker 8: Amtrak facility in Delaware announced sixteen billion dollars for rail reconstruction,

587
00:30:06,680 --> 00:30:08,240
Speaker 8: new bridges, new tunnels.

588
00:30:08,720 --> 00:30:10,600
Speaker 2: That's all going to take a very long time to build.

589
00:30:10,760 --> 00:30:13,680
Speaker 8: But at the end of the day, and combined with

590
00:30:13,680 --> 00:30:16,280
Speaker 8: that gateway project up in New York that's going to

591
00:30:16,320 --> 00:30:20,200
Speaker 8: expand the train capacity, you could see a rail system

592
00:30:20,280 --> 00:30:22,760
Speaker 8: that at least in the Northeast is running a lot

593
00:30:22,760 --> 00:30:24,600
Speaker 8: better than it is now. But you know that could

594
00:30:24,600 --> 00:30:27,280
Speaker 8: take five ten years, if not longer, to build, just

595
00:30:27,280 --> 00:30:29,640
Speaker 8: looking at the track record of these kind of projects

596
00:30:29,680 --> 00:30:30,400
Speaker 8: in the US.

597
00:30:30,800 --> 00:30:33,160
Speaker 2: Great to have you back, as always, Jordan Fabian, Bloomberg

598
00:30:33,200 --> 00:30:37,320
Speaker 2: White House Reporter, hang out if you have some time, Jordan,

599
00:30:37,400 --> 00:30:41,400
Speaker 2: You're always welcome here, as we welcome the Secretary of Transportation,

600
00:30:41,520 --> 00:30:45,320
Speaker 2: Pete Buddhajeedge is with us now live on Bloomberg. Mister Secretary,

601
00:30:45,320 --> 00:30:46,640
Speaker 2: it's great to see you. I want to welcome you

602
00:30:46,680 --> 00:30:49,000
Speaker 2: back to Bloomberg, and I guess I should start by

603
00:30:49,040 --> 00:30:52,160
Speaker 2: saying happy birthday. We were joking earlier it was infrastructure

604
00:30:52,200 --> 00:30:56,360
Speaker 2: week until it became infrastructure a year in your administration.

605
00:30:57,440 --> 00:31:00,600
Speaker 2: We were just discussing with Jordan Fabian, this is one

606
00:31:00,600 --> 00:31:04,880
Speaker 2: of the big three crowning achievements of your administration, and

607
00:31:04,920 --> 00:31:07,440
Speaker 2: I know that we've already started to see some of

608
00:31:08,200 --> 00:31:11,200
Speaker 2: the benetts of benefits of that in terms of broadband

609
00:31:11,800 --> 00:31:13,440
Speaker 2: connections in rural areas.

610
00:31:13,480 --> 00:31:18,000
Speaker 9: What comes next, Well, what's exciting about this stage is

611
00:31:18,040 --> 00:31:21,200
Speaker 9: we are seeing more and more of the projects move

612
00:31:21,240 --> 00:31:26,240
Speaker 9: into a construction phase. We have identified forty thousand infrastructure projects,

613
00:31:26,240 --> 00:31:29,800
Speaker 9: the majority of them transportation related, that are getting benefits

614
00:31:29,840 --> 00:31:32,400
Speaker 9: from this bill. And it's only been two years since

615
00:31:32,400 --> 00:31:35,120
Speaker 9: the President signed it. It's a five year bill, so

616
00:31:35,680 --> 00:31:39,680
Speaker 9: every month we're going to see projects added to that roster,

617
00:31:40,040 --> 00:31:42,200
Speaker 9: and we're going to see them move through the process

618
00:31:42,240 --> 00:31:45,160
Speaker 9: toward completion. The thing that's been the most exciting and

619
00:31:45,200 --> 00:31:49,360
Speaker 9: gratifying for me is the range of the projects getting done.

620
00:31:49,440 --> 00:31:51,960
Speaker 9: You know, some of them are multi year projects. I

621
00:31:52,040 --> 00:31:55,760
Speaker 9: call them the cathedrals of our infrastructure, like I heard

622
00:31:55,800 --> 00:31:58,760
Speaker 9: you just a moment ago mentioning the President's announcements, one

623
00:31:58,800 --> 00:32:01,920
Speaker 9: of which brings the Hudson River Tunnel to a level

624
00:32:01,920 --> 00:32:04,000
Speaker 9: of funding that makes it one of the biggest public

625
00:32:04,000 --> 00:32:07,440
Speaker 9: works projects in recent American history, all the way through

626
00:32:07,480 --> 00:32:10,800
Speaker 9: to some six figure grants that we're doing that are

627
00:32:10,840 --> 00:32:15,680
Speaker 9: transformative for a rural community that needs a deadly intersection

628
00:32:15,800 --> 00:32:21,200
Speaker 9: to be redesigned, or even a municipal airport to be redone.

629
00:32:21,800 --> 00:32:25,480
Speaker 9: So we're seeing things that are large and small rural

630
00:32:25,520 --> 00:32:28,200
Speaker 9: and urban, And of course that was the president's vision

631
00:32:28,200 --> 00:32:30,040
Speaker 9: in pushing so hard for this bill in the first place.

632
00:32:30,080 --> 00:32:32,719
Speaker 9: That wouldn't just be a particular project, and wouldn't even

633
00:32:32,760 --> 00:32:37,520
Speaker 9: be confoned to confined to one mode of transportation. It's transplanes, automobiles,

634
00:32:37,560 --> 00:32:38,000
Speaker 9: and beyond.

635
00:32:39,560 --> 00:32:43,160
Speaker 2: You just mentioned a really important component here, and that

636
00:32:43,320 --> 00:32:47,560
Speaker 2: is the five year lifespan of this bill, of this law.

637
00:32:47,600 --> 00:32:51,160
Speaker 2: Will it be fully implemented in that time, Secretary? And

638
00:32:51,200 --> 00:32:53,520
Speaker 2: do you wish you could frontload some of the stuff.

639
00:32:53,560 --> 00:32:54,920
Speaker 2: That's going to take a couple of years.

640
00:32:56,400 --> 00:32:59,720
Speaker 9: Yeah, So that's how long we have to move the funding.

641
00:33:00,000 --> 00:33:02,040
Speaker 9: But you know, the way the bill is set up

642
00:33:02,080 --> 00:33:03,880
Speaker 9: is we can get some of it out the door

643
00:33:04,320 --> 00:33:06,800
Speaker 9: sooner rather than later. So it's not just that kind

644
00:33:06,840 --> 00:33:09,720
Speaker 9: of one fifth of the money moves each of those

645
00:33:09,800 --> 00:33:12,520
Speaker 9: five years. And we want to do as much as

646
00:33:12,600 --> 00:33:14,920
Speaker 9: we can quickly. Of course, the only thing more important

647
00:33:14,920 --> 00:33:16,760
Speaker 9: than doing it quickly is doing it right. We're talking

648
00:33:16,800 --> 00:33:19,120
Speaker 9: about taxpayer dollars. We're going through lots of steps to

649
00:33:19,120 --> 00:33:22,440
Speaker 9: make sure that they're spent responsibly and effectively. But you know,

650
00:33:22,480 --> 00:33:26,040
Speaker 9: already north of two hundred billion dollars have moved and

651
00:33:26,760 --> 00:33:29,400
Speaker 9: this is what it's going to take to really achieve

652
00:33:29,440 --> 00:33:32,680
Speaker 9: that generational investment that the President was so focused on

653
00:33:32,800 --> 00:33:34,640
Speaker 9: in pushing for this bill in the first place.

654
00:33:36,160 --> 00:33:39,280
Speaker 2: What's been in this two year period the biggest challenge

655
00:33:39,320 --> 00:33:44,000
Speaker 2: of implementing this law. I know you've had Mayor Landrew

656
00:33:44,480 --> 00:33:48,320
Speaker 2: criss crossing the country trying to put money to projects

657
00:33:48,600 --> 00:33:53,000
Speaker 2: and implement what is a sweeping piece of legislation. What's

658
00:33:53,040 --> 00:33:54,560
Speaker 2: the biggest hang up that you've faced.

659
00:33:55,600 --> 00:33:57,880
Speaker 5: Well, certainly, delivery is a challenge.

660
00:33:57,920 --> 00:34:00,080
Speaker 9: It's one thing to get a project funded, which is

661
00:34:00,120 --> 00:34:02,479
Speaker 9: why most of these projects never got off the ground

662
00:34:02,840 --> 00:34:05,160
Speaker 9: up until now, but it's another to see it all

663
00:34:05,200 --> 00:34:08,680
Speaker 9: the way from getting funded to actually going into construction

664
00:34:08,840 --> 00:34:10,640
Speaker 9: and then getting to that great day when we cut

665
00:34:10,640 --> 00:34:15,160
Speaker 9: the ribbon and that new airport, that improved tunnel, that

666
00:34:15,200 --> 00:34:17,600
Speaker 9: fixed up bridge, whatever it is is there for everybody

667
00:34:17,600 --> 00:34:19,640
Speaker 9: to use and to take advantage of. One of the

668
00:34:19,680 --> 00:34:24,160
Speaker 9: biggest challenges has been workforce, which, of course, macroeconomically, is

669
00:34:24,440 --> 00:34:26,279
Speaker 9: a much better issue to have, you know, where we're

670
00:34:26,280 --> 00:34:28,800
Speaker 9: going to find the workers compared to the issue of where.

671
00:34:28,600 --> 00:34:29,600
Speaker 5: Are they going to find the work?

672
00:34:29,640 --> 00:34:31,719
Speaker 9: But it's still an issue, and it's one of the

673
00:34:31,719 --> 00:34:34,200
Speaker 9: reasons why we've been very proactive on that. Our department's

674
00:34:34,239 --> 00:34:37,759
Speaker 9: participating in a program that the presidents called for for

675
00:34:37,880 --> 00:34:40,360
Speaker 9: workforce hubs to be set up around the country and

676
00:34:40,440 --> 00:34:45,160
Speaker 9: getting creative things like a facility I saw in Pittsburgh.

677
00:34:45,200 --> 00:34:47,640
Speaker 5: They're doing a major airport project there.

678
00:34:47,680 --> 00:34:50,080
Speaker 9: There are a lot of working parents and working moms

679
00:34:50,120 --> 00:34:53,800
Speaker 9: in particular, who are working in construction on that project

680
00:34:53,840 --> 00:34:55,640
Speaker 9: who have a chance to do it because they set

681
00:34:55,719 --> 00:34:59,280
Speaker 9: up a daycare at the construction site, a simple smart

682
00:34:59,320 --> 00:35:02,400
Speaker 9: move that unlocked a new source of human capital and

683
00:35:02,480 --> 00:35:07,200
Speaker 9: gave more workers access to these good paying, sometimes life transforming,

684
00:35:07,880 --> 00:35:10,200
Speaker 9: union construction jobs. So we're going to have to be

685
00:35:10,200 --> 00:35:13,279
Speaker 9: creative to address some of those constraints in our supply side,

686
00:35:13,280 --> 00:35:17,799
Speaker 9: whether it's workforce skill, raw materials, even But those are

687
00:35:17,840 --> 00:35:20,160
Speaker 9: exactly the kinds of problems that we went into this

688
00:35:20,200 --> 00:35:22,680
Speaker 9: line of work to be able to tackle because we're

689
00:35:22,719 --> 00:35:25,240
Speaker 9: finally past the problem of there not being any funding

690
00:35:25,239 --> 00:35:25,600
Speaker 9: out there.

691
00:35:26,640 --> 00:35:28,319
Speaker 2: Well, I know I'm not supposed to ask you this,

692
00:35:28,440 --> 00:35:30,160
Speaker 2: and maybe you don't want to answer it, but I

693
00:35:30,200 --> 00:35:35,200
Speaker 2: wonder if you worry about implementation of this bill being

694
00:35:35,239 --> 00:35:39,239
Speaker 2: potentially interrupted if a Republican were to win the White House.

695
00:35:39,280 --> 00:35:40,759
Speaker 2: Are you allowed to talk to me about that? What

696
00:35:40,800 --> 00:35:41,320
Speaker 2: would happen?

697
00:35:42,640 --> 00:35:45,440
Speaker 9: Well, I guess what I'd say is that when politics interfere,

698
00:35:45,600 --> 00:35:49,120
Speaker 9: it's never good. I mean, we've saw that recently with

699
00:35:49,200 --> 00:35:52,960
Speaker 9: these shutdown threats that would have slowed us down or

700
00:35:52,960 --> 00:35:56,400
Speaker 9: even stopped us on vital things like air traffic control hiring,

701
00:35:57,000 --> 00:35:59,279
Speaker 9: which I think we all recognize needs we need to

702
00:35:59,280 --> 00:36:01,680
Speaker 9: be doing more, not less right now, And it would

703
00:36:01,680 --> 00:36:05,000
Speaker 9: have impacted at least some of the infrastructure work going on.

704
00:36:06,000 --> 00:36:08,279
Speaker 9: And you know right now, I mean, without getting into

705
00:36:08,280 --> 00:36:10,359
Speaker 9: campaigns and elections, I can tell you that right now

706
00:36:10,400 --> 00:36:15,000
Speaker 9: we have a congressional GOP in the House that is

707
00:36:15,160 --> 00:36:18,440
Speaker 9: proposing major cuts that would cut our ports program, it

708
00:36:18,440 --> 00:36:22,440
Speaker 9: would cut the program we've used to build safer railroad infrastructure.

709
00:36:22,520 --> 00:36:24,919
Speaker 9: So I do worry about that, But I also think

710
00:36:24,960 --> 00:36:27,600
Speaker 9: we have a pretty strong defense against that, which is

711
00:36:27,600 --> 00:36:30,400
Speaker 9: the fact that when these projects actually happen, when we

712
00:36:30,440 --> 00:36:35,239
Speaker 9: announced them, even the elected officials who voted against the

713
00:36:35,239 --> 00:36:38,040
Speaker 9: bill and fought the President at every turn, they seem

714
00:36:38,080 --> 00:36:40,359
Speaker 9: to be perfectly happy to celebrate the projects with us,

715
00:36:40,640 --> 00:36:42,759
Speaker 9: which I think is a good indication that this really

716
00:36:42,800 --> 00:36:43,480
Speaker 9: is good policy.

717
00:36:44,280 --> 00:36:47,319
Speaker 2: You know I mentioned that before you came on in

718
00:36:47,360 --> 00:36:51,880
Speaker 2: a conversation that we were having. Mister Secretary, what do

719
00:36:51,920 --> 00:36:54,680
Speaker 2: you tell these Republicans who have railed and some still

720
00:36:54,680 --> 00:36:57,440
Speaker 2: go on the floor. I think Tommy Tuberville was one

721
00:36:57,440 --> 00:36:59,200
Speaker 2: of them, and then they go home and they celebrate

722
00:36:59,520 --> 00:37:01,799
Speaker 2: the ribbon. Is that actually, like, is that a good

723
00:37:01,840 --> 00:37:05,160
Speaker 2: problem for you to have because it sells the deal

724
00:37:05,320 --> 00:37:08,400
Speaker 2: in the end despite the headache putting this together.

725
00:37:09,560 --> 00:37:09,759
Speaker 7: Yeah.

726
00:37:09,800 --> 00:37:13,400
Speaker 9: I mean, look, I have more appreciation for the handful

727
00:37:13,440 --> 00:37:16,360
Speaker 9: of Republicans who crossed the aisle to work with Democrats

728
00:37:16,400 --> 00:37:18,720
Speaker 9: and work with President Biden to get this bill done.

729
00:37:18,800 --> 00:37:21,360
Speaker 9: But those who want to celebrate it after the fact,

730
00:37:21,400 --> 00:37:24,080
Speaker 9: I guess, you know, welcome to the party. I mean,

731
00:37:24,520 --> 00:37:26,759
Speaker 9: you know, these are going to benefit people. We don't

732
00:37:26,800 --> 00:37:29,239
Speaker 9: have Republican roads or Democratic bridges. I mean, these are

733
00:37:29,560 --> 00:37:32,320
Speaker 9: good projects regardless of politics, and they're going to benefit

734
00:37:32,400 --> 00:37:35,440
Speaker 9: people regardless of their politics. And you know, we're not

735
00:37:35,480 --> 00:37:40,640
Speaker 9: going to let constituents suffer because their particular representative was

736
00:37:41,239 --> 00:37:44,799
Speaker 9: shortsighted about this. We're trying to really push past the

737
00:37:44,800 --> 00:37:47,080
Speaker 9: politics and just get the work done.

738
00:37:47,239 --> 00:37:49,560
Speaker 2: Well, it's not every day we get the Transportation Secretary

739
00:37:49,600 --> 00:37:51,200
Speaker 2: on the air, and we are talking with Pete Buda

740
00:37:51,280 --> 00:37:55,319
Speaker 2: Jedge here live on Bloomberg. We're a week out from Thanksgiving.

741
00:37:55,320 --> 00:37:57,680
Speaker 2: My god, it's a week from today. I wonder what

742
00:37:57,719 --> 00:38:00,920
Speaker 2: your team is working on and trying to anticipate in

743
00:38:01,000 --> 00:38:04,680
Speaker 2: terms of disruptions or safety concerns on one of the

744
00:38:04,680 --> 00:38:06,560
Speaker 2: busiest travel periods of the year.

745
00:38:07,880 --> 00:38:10,960
Speaker 9: Well, you know, over the summer, we saw numbers that

746
00:38:11,120 --> 00:38:14,000
Speaker 9: broke records in terms of TSA screening showing us we

747
00:38:14,040 --> 00:38:19,560
Speaker 9: had all time record high levels of passengers taking to

748
00:38:19,640 --> 00:38:21,360
Speaker 9: the air. I think the same thing is going to

749
00:38:21,360 --> 00:38:23,719
Speaker 9: be true going to Thanksgiving in the winter holidays too,

750
00:38:24,120 --> 00:38:26,560
Speaker 9: And so it's the most important thing to me is

751
00:38:26,600 --> 00:38:28,560
Speaker 9: that the airlines be ready to take care of their

752
00:38:28,600 --> 00:38:31,239
Speaker 9: passengers and that our department is ready to have those

753
00:38:31,280 --> 00:38:34,040
Speaker 9: passengers back when they hit an issue. You know, compared

754
00:38:34,040 --> 00:38:36,319
Speaker 9: to even one and a half years ago, there is

755
00:38:36,400 --> 00:38:41,040
Speaker 9: dramatically better, stronger passenger protection that our department can enforce.

756
00:38:41,120 --> 00:38:44,360
Speaker 9: People should go to Flight Rights dot Gov ideally before you,

757
00:38:44,400 --> 00:38:46,000
Speaker 9: but I take it to learn a little more about

758
00:38:46,400 --> 00:38:50,160
Speaker 9: what each of the different airlines is responsible for offering

759
00:38:50,160 --> 00:38:53,360
Speaker 9: their passengers that again we can enforce if there's an issue.

760
00:38:53,560 --> 00:38:56,680
Speaker 9: We're also trying to make sure that operational concerns are

761
00:38:56,719 --> 00:39:02,239
Speaker 9: being met. It's why we're aggressively working to modernized FAA technology,

762
00:39:02,320 --> 00:39:06,200
Speaker 9: hire more air traffic controllers to support that increased demand. Economically,

763
00:39:06,520 --> 00:39:09,080
Speaker 9: it's welcome to see more and more people returning to

764
00:39:09,080 --> 00:39:13,279
Speaker 9: the skies because remember, since we're talking about anniversaries and

765
00:39:13,320 --> 00:39:14,920
Speaker 9: what it was like a couple of years ago, you know,

766
00:39:14,960 --> 00:39:16,719
Speaker 9: it was only a little over a couple of years ago,

767
00:39:16,760 --> 00:39:18,960
Speaker 9: everybody was wondering if the airlines would go out of business.

768
00:39:19,000 --> 00:39:21,200
Speaker 9: Now we have kind of the opposite set of problems.

769
00:39:21,560 --> 00:39:23,480
Speaker 9: We just need to make sure the system can keep up.

770
00:39:24,680 --> 00:39:27,600
Speaker 2: So no meltdowns, no big Southwest messages this year that

771
00:39:27,640 --> 00:39:28,600
Speaker 2: we have to plan for.

772
00:39:29,280 --> 00:39:30,239
Speaker 5: Well, they're better not be.

773
00:39:30,400 --> 00:39:32,759
Speaker 9: And if there is a problem, the airlines know that

774
00:39:33,080 --> 00:39:35,279
Speaker 9: we are going to be on it very quickly and

775
00:39:35,320 --> 00:39:38,560
Speaker 9: holding them accountable. But look, we've seen, to their credit,

776
00:39:38,719 --> 00:39:40,920
Speaker 9: we've seen them step up. We've seen a lot of improvement.

777
00:39:41,080 --> 00:39:43,400
Speaker 9: The rate of cancelations is actually below what it was

778
00:39:43,440 --> 00:39:46,759
Speaker 9: before COVID so far this year. I'm looking to the

779
00:39:46,800 --> 00:39:49,000
Speaker 9: airlines to keep that up and we'll do everything we

780
00:39:49,080 --> 00:39:51,400
Speaker 9: can to help them meet those goals.

781
00:39:52,520 --> 00:39:54,640
Speaker 2: Mister Secretary, I want you to know that your views

782
00:39:54,640 --> 00:39:57,520
Speaker 2: are important to us around here. We like to walk

783
00:39:57,560 --> 00:39:59,440
Speaker 2: out on policy on this show, so I'd love to

784
00:39:59,440 --> 00:40:02,960
Speaker 2: see you again continue this conversation. Secretary of Transportation, Pete

785
00:40:03,000 --> 00:40:06,160
Speaker 2: Buhage Edge, I hope you have a great Thanksgiving you too.

786
00:40:06,239 --> 00:40:09,320
Speaker 2: Thank you, Thank you, sir for being with us as always.

787
00:40:09,440 --> 00:40:11,920
Speaker 2: I'm Jill, Matthew and Washington. Thanks for being with us

788
00:40:11,960 --> 00:40:15,040
Speaker 2: on Bloomberg Sound On. Jordan's still here. I convinced him

789
00:40:15,080 --> 00:40:17,160
Speaker 2: to hang out for a minute, and I'm curious Jordan,

790
00:40:17,239 --> 00:40:19,359
Speaker 2: Phoebe and your thoughts on this from your perch at

791
00:40:19,360 --> 00:40:21,399
Speaker 2: the White House. This is going to be the role

792
00:40:21,440 --> 00:40:24,000
Speaker 2: out here for the administration. How did he do?

793
00:40:25,239 --> 00:40:27,680
Speaker 8: I think they have the right idea, which is to

794
00:40:27,719 --> 00:40:29,879
Speaker 8: try and get this money out the door as quick

795
00:40:29,880 --> 00:40:33,160
Speaker 8: as possible, but also making sure that you know that

796
00:40:33,239 --> 00:40:36,160
Speaker 8: money isn't just being siphoned off or stolen. You know

797
00:40:36,239 --> 00:40:37,520
Speaker 8: that it's going to the right.

798
00:40:38,920 --> 00:40:39,680
Speaker 2: To the right place.

799
00:40:39,760 --> 00:40:42,000
Speaker 8: But of course the struggle is going to be again

800
00:40:42,600 --> 00:40:44,920
Speaker 8: going back to the politics of this, which you know

801
00:40:45,719 --> 00:40:46,440
Speaker 8: he's limited in.

802
00:40:46,480 --> 00:40:47,360
Speaker 2: What he could talk about.

803
00:40:47,440 --> 00:40:51,000
Speaker 8: Yeah, you know, how does the president ensure that he

804
00:40:51,080 --> 00:40:53,560
Speaker 8: receives credit. And you know, this is something the President

805
00:40:53,560 --> 00:40:56,200
Speaker 8: talked about in the Obama administration. He still talks about

806
00:40:56,239 --> 00:40:56,839
Speaker 8: it now that.

807
00:40:57,040 --> 00:40:58,959
Speaker 2: The saluce pitch, the sales pitch that.

808
00:40:58,920 --> 00:41:01,719
Speaker 8: You know they did that big stimulus project. I'm sure

809
00:41:01,960 --> 00:41:04,960
Speaker 8: some Americans remember those tiger signs that were around on

810
00:41:05,080 --> 00:41:07,920
Speaker 8: road projects about you know, fifteen years ago, no one.

811
00:41:07,920 --> 00:41:09,120
Speaker 2: Knew what tiger was. It was.

812
00:41:09,239 --> 00:41:12,240
Speaker 8: It was the Obama stimulus that funded those.

813
00:41:12,239 --> 00:41:15,600
Speaker 2: Your tax dollars paid for this, same for Obamacare. Right,

814
00:41:15,640 --> 00:41:17,600
Speaker 2: he said they should have taken a whistle stop to

815
00:41:17,600 --> 00:41:19,560
Speaker 2: around the country just to explain to people what it was.

816
00:41:19,920 --> 00:41:22,960
Speaker 8: Right. And so I'm interested to see heading into the

817
00:41:23,120 --> 00:41:25,880
Speaker 8: campaign here. And you know Biden has done this a

818
00:41:25,880 --> 00:41:27,879
Speaker 8: few times, but does he lean into it more where

819
00:41:27,920 --> 00:41:30,640
Speaker 8: he gets a little aggressive, goes into a district or

820
00:41:30,680 --> 00:41:32,680
Speaker 8: a state. You know, I could think of the Brent

821
00:41:32,800 --> 00:41:36,399
Speaker 8: Spence Bridge in Kentucky and Ohio, like right at Mitch

822
00:41:36,480 --> 00:41:37,360
Speaker 8: McConnell's backyard.

823
00:41:37,360 --> 00:41:38,120
Speaker 2: He showed up for it.

824
00:41:38,239 --> 00:41:41,120
Speaker 8: Yeah, like he showed up and made nice. But as

825
00:41:41,480 --> 00:41:43,600
Speaker 8: we turned to twenty twenty four, does he go in

826
00:41:43,640 --> 00:41:45,880
Speaker 8: there and throw some oultboats and said, hey, the reason

827
00:41:45,920 --> 00:41:49,239
Speaker 8: this bridge is happening ain't because of you know, Joe

828
00:41:49,239 --> 00:41:49,920
Speaker 8: Shmoe Gop.

829
00:41:50,000 --> 00:41:52,200
Speaker 2: It's because of me. It's because of me, the other

830
00:41:52,360 --> 00:41:55,680
Speaker 2: Joe Jordan. Great to see you again, Jordan Fabian. He

831
00:41:55,680 --> 00:41:58,040
Speaker 2: covers the White House for us and with us live

832
00:41:58,200 --> 00:42:06,840
Speaker 2: on Bloomberg. Thanks again to the Second Terry. Thanks for

833
00:42:06,880 --> 00:42:09,400
Speaker 2: listening to the Sound on podcast. Make sure to subscribe

834
00:42:09,400 --> 00:42:12,239
Speaker 2: if you haven't already, at Apple, Spotify, and anywhere else

835
00:42:12,280 --> 00:42:14,719
Speaker 2: you get your podcasts, and you can find us live

836
00:42:14,920 --> 00:42:18,120
Speaker 2: every weekday from Washington, DC at one pm Eastern Time

837
00:42:18,320 --> 00:42:21,640
Speaker 2: at Bloomberg dot com