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Speaker 1: Live from our nation's camera. How do we reopen this economy?

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Speaker 1: The latest on how this pandemic is impacting farmers. What

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Speaker 1: does this do for the United States relationship with China?

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Speaker 1: Bloomberg Sound On, The Insiders, the influencers, the insides. We're

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Speaker 1: responding to this crisis and manufacturers are stepping up like

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Speaker 1: never before. We're looking at seventy candidates for different vaccines.

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Speaker 1: How do we make sure a pandemic of this scale

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Speaker 1: never happens again? This is Bloomberg Sound On with Kevin

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Speaker 1: Surrelate on Bloomberg and one oh five point seven f

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Speaker 1: m h D two. The latest on the vaccination front.

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Speaker 1: This is CBS and Walgreens appear to get approval to

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Speaker 1: give COVID nineteen shots when they're ready in nursing homes.

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Speaker 1: The latest on the response to the ending potentially of

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Speaker 1: the pandemic in the next nine twelve months. Meanwhile, watch

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Speaker 1: What's gonna Happen over the weekend and a full Sunday

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Speaker 1: show preview. All of that, plus the latest back and

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Speaker 1: forth in the fiscal AAGA, that is, the talks between

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Speaker 1: the Democrats and Republicans in the White House lots to

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Speaker 1: get through Tonight we got an all star panel. It's Friday, folks,

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Speaker 1: doom and gloom overcast day here in the nation's capital.

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Speaker 1: But we're chucking on right. We got a lot to

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Speaker 1: be grateful for. The SMP five hundred is running low

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Speaker 1: on buyers in the middle of earning season. Get this

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Speaker 1: Lou Wang and Claire Ballantine report on the Bloomberg terminal.

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Speaker 1: Going by early returns, this earning season is shaping up

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Speaker 1: as a historical one relative to forecasts. It's impact on

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Speaker 1: the market has been less memorable. And coming up, I'm

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Speaker 1: going to check in with Michael Reagan, who is a

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Speaker 1: senior editor and lead blogger for Bloomberg Markets to get

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Speaker 1: a full recap of what happened in the markets. But

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Speaker 1: did you watch in the town halls last night? Did

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Speaker 1: you did you flip back and forth? I remember when

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Speaker 1: I was a kid back in Duck and my dad

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Speaker 1: would always I'd sit with them on the couch at

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Speaker 1: the Sunday shows, and and you know, we would watch

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Speaker 1: the Sunday shows and and just when someone was saying

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Speaker 1: something interesting, you'd flip it and I'd say, Dad, what

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Speaker 1: do you do? And he would say, keV, you gotta

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Speaker 1: get all sides of the story. So he flipped back

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Speaker 1: and forth, back and forth. So we're waiting on Mario

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Speaker 1: Parker to take my call, Mario our Bloomberg White House reporter.

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Speaker 1: Is he there? I am here, Mario. I was riffing.

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Speaker 1: Christine Barratta told me the letter riff because we couldn't

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Speaker 1: get you, and then they don't even tell me when

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Speaker 1: we get them. So here we are, Mario Parkner. It's Friday,

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Speaker 1: Mario Parker, Bloomberg White House reporter. Okay, sum it up.

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Speaker 1: What was going on last night with the town halls.

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Speaker 1: I thought Frank Lance on Bloomberg Television just nailed it

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Speaker 1: when he said this isn't gonna move the needle. But

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Speaker 1: what are we here last night? No? We Uh we

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Speaker 1: heard more of the same from at least from the

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Speaker 1: president's camp that, uh, the president wasn't able to deliver

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Speaker 1: the type of messages that the campaign would like them

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Speaker 1: to be delivering in the final stage of the campaign. Uh,

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Speaker 1: for example, just not denouncing Q And it's something that

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Speaker 1: the that the campaign probably wish that it could it

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Speaker 1: could have back and more emphatus on the economy and

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Speaker 1: how the president's handling the coronavirus pandemic. Well, I think

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Speaker 1: I think you, uh, you just brought up a really

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Speaker 1: good point, because we actually have a sound bite from

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Speaker 1: President Trump saying that he knew COVID was a big threat,

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Speaker 1: but he didn't want people to panic. Let's take a

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Speaker 1: listen to President Trump last night at the town hall.

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Speaker 1: I knew it was a big threat. At the same time,

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Speaker 1: I don't want to panic this country. I don't want

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Speaker 1: to go out and say everybody's going to die. And

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Speaker 1: then meanwhile, Joe Biden, also on the other channel, also

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Speaker 1: went on the attack about the president's handling of the

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Speaker 1: COVID nineteen pandemic. Here's Joe Biden. We make up four

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Speaker 1: percent of the world's population, we have of the world's deaths.

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Speaker 1: We're in a situation where we have two hundred and

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Speaker 1: ten plus thousand people dead, and what's he doing nothing.

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Speaker 1: It's really remarkable, Mario, just how COVID nineteen and the

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Speaker 1: response to it is still the driving issue of the

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Speaker 1: messaging coming from both campaigns. There's really not one other

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Speaker 1: issue that is really being discussed, at least at the

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Speaker 1: mainstream level. Obviously, down in the battleground states, they're looking

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Speaker 1: at different economic items, but it's still COVID nineteen and

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Speaker 1: the president's handling of it, and they haven't been able

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Speaker 1: to get off that topic. No, you're absolutely right, and

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Speaker 1: the president would like to pivot to um the economy

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Speaker 1: or even the confirmation hearings for Amy Tony Barrett. Uh.

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Speaker 1: It's the biggest culsual of course that Joe Biden is wielding.

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Speaker 1: But yeah, it does go hand in hand with just

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Speaker 1: some of the both the health concerns but also just

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Speaker 1: some of the economic concerns. What posters say is that

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Speaker 1: even those that are employed feel a little bit tenuous

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Speaker 1: about their position. Those unemployed, of course, uh, faced more

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Speaker 1: dire concerns, and so they're looking for the president to

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Speaker 1: address those well. And just you know, Tyler Pager, I

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Speaker 1: thought really nailed this when he reported that that H.

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Speaker 1: Warren Buffett had a phone call not endorsement, but a

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Speaker 1: phone call with Joe Biden just the other day. And

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Speaker 1: then we've got Jamie Diamond of the of JP Morgan

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Speaker 1: uh saying it a virtual conference earlier today. Quote, Joe

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Speaker 1: Biden has been around the block. He knows a lot

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Speaker 1: of people. He is a compromiser, a unifier in a

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Speaker 1: good way by nature. He was responding to a question

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Speaker 1: Jamie Diamond was about whether he thought the candidate would

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Speaker 1: pursue policies to fix issues with healthcare, education, economic inequality. Uh.

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Speaker 1: And he says, uh that he said that he noted

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Speaker 1: that Biden was represented as a senator a pro business

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Speaker 1: state his words, Jamie Diamond's words, Uh, Delaware is quote

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Speaker 1: a pro business state end quote. So it's been it's

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Speaker 1: been really remarkable to see the markets try to factor

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Speaker 1: this in, and we'll talk about that coming up. But

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Speaker 1: even from an economic perspective Mario Parker, Bloomberg White House Reporter,

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Speaker 1: there's a subtle conversation happening on Wall Street that maybe

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Speaker 1: Trump World doesn't really want to have happen, which is

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Speaker 1: an ex Upton's from the likes of Jamie Diamond and

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Speaker 1: more in Buffett of of Joe Biden. No, you're absolutely

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Speaker 1: right in that the president. One of his u main

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Speaker 1: talking points, right is a couple of them are how

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Speaker 1: are your four O one case doing? And if um,

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Speaker 1: if he's not in office, then the markets with crash

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Speaker 1: or we haven't seen that happened. He has also said

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Speaker 1: that um, the markets not being up as much as

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Speaker 1: they could be, is a hedge against Biden. But again

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Speaker 1: this this this this kind of rhetoric from the likes

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Speaker 1: of Jamie Diamond, the fact that Biden held the calls

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Speaker 1: more in Buffett, that kind of undermines that messaging. So meanwhile,

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Speaker 1: the virus, the number of daily COVID nineteen cases continuing

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Speaker 1: its steady climb as temperatures begin to dip across the

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Speaker 1: United States, and students of course returned to classrooms and

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Speaker 1: more people stay indoors where the virus spreads easily. So

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Speaker 1: it's the virus. And I'm looking at my Bloomberg termin

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Speaker 1: right now, folks, and I've got the chart right in

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Speaker 1: front of me, and they have the graphs for the Northeast,

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Speaker 1: the Midwest, the South, and the West, and in in April,

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Speaker 1: this was when the Northeast all the surge had it,

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Speaker 1: so you know, our region all the way up to

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Speaker 1: Boston and whatnot, and that of course was were the

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Speaker 1: initial lockdowns back in August. I'm looking at the South,

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Speaker 1: I mean it it's just spiked while the Northeast dipped.

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Speaker 1: And now you're starting to see a slow uptick in

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Speaker 1: the Midwest. I mean, these are the battleground states. So

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Speaker 1: you've got so many the virus just a resurgence happening

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Speaker 1: in the Midwest, and it's it's just really really frightening data. No, absolutely,

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Speaker 1: particularly I think the President is going to be holding

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Speaker 1: a rally this weekend in the place called Wisconsin where

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Speaker 1: they're really having a tough go at it, unfortunately. And

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Speaker 1: so again it puts the coronavirus front and center in

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Speaker 1: the the die log. When the president would like to,

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Speaker 1: as his father say, turned turned, it's were turning the corner.

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Speaker 1: Um he would like to talk about other things, would

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Speaker 1: like to talk more about who would have the best

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Speaker 1: stewardship for an economic recovery. But again, these type of cases,

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Speaker 1: its resurgence in cases, it's putting the coronavirus front and center,

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Speaker 1: particularly in demographics that he had to reach. All right,

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Speaker 1: give us a preview of what's going to be on

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Speaker 1: your radar for this weekend on the campaign trail, Mario Parker, Bloomberg,

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Speaker 1: White House Reporter. Well, the as you know, because you

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Speaker 1: covered in n UM, can the president stay on message?

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Speaker 1: I mean that was kind of the secret ingredient to

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Speaker 1: him kind of closing the deal in was streamlining the message,

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Speaker 1: big discipline, really hitting the notes that voters wanted to

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Speaker 1: wanted him to hit, as opposed to kind of veering

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Speaker 1: off on tangents. So we'll be looking at some of

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Speaker 1: the rhetoric at his rallies whether or not he could

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Speaker 1: hit these main points, stay on these main points without

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Speaker 1: kind of bringing up some of the things that some

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Speaker 1: of the negatives that he's gonna be in Wisconsin. Where's

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Speaker 1: Biden gonna be? Do know? I do not know where

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Speaker 1: Biden is gonna be? Uh, just this weekend, what's the

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Speaker 1: craziest we give it. What's the craziest thing that you

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Speaker 1: saw this week? Empty out your notebook, Mario Parker. The

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Speaker 1: craziest thing probably was last week's how Hall Right, which

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Speaker 1: was like a de facto uh debate where you had

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Speaker 1: to split train of Joe Biden and then you had

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Speaker 1: to the other side with President Trump who was kind

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Speaker 1: of facing a little bit more fire, and so that

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Speaker 1: was kind of that was a big deal for voters.

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Speaker 1: I think this week, Sony, Mario Parker, stay safe, my friend,

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Speaker 1: and keep up the great work that is Mario Parker.

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Speaker 1: He is Bloomberg White House Reporter are coming up in

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Speaker 1: the next hour I've got George c and Joel Rubin

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Speaker 1: and uh coming up next, we're going to check in

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Speaker 1: with Michael Reagan. Download the Bloomberg Sound On podcast on Apple,

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Speaker 1: it tunes, at Bloomberg dot com, or by downloading the

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Speaker 1: Bloomberg Business App. You can also find me on Radio

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Speaker 1: dot com, I Heart Radio and Spotify of Kevin Cirelli,

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Speaker 1: chief Washington correspondent for Bloomberg TV and Radio. You're listening

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Speaker 1: to Bloomberg. You're listening to Bloomberg sound On with Kevin

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Speaker 1: currelate on Bloomberg and one oh five point seven FM

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Speaker 1: h D two. I'm Kevin CURRELLI, chief Washington correspondent for

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Speaker 1: Bloomberg Television and for Bloomberg Radio. In the break, we

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Speaker 1: were able to find that SoundBite that I that I

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Speaker 1: mentioned earlier of JP Morgan's Jamie Diamond speaking earlier out

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Speaker 1: of virtual conference about the prospects of fiscal stimulus. As

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Speaker 1: is the political landscape. Let's take a listen to Jamie

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Speaker 1: Diamond speaking earlier today at a virtual conference. Here is

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Speaker 1: I think to get out of this recession, what we

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Speaker 1: need is more fiscal steamus really to help small businesses

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Speaker 1: and the unemployed. Maybe a couple of industries. It's not

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Speaker 1: it's not monetary submission means they need that help to

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Speaker 1: get them through to April May June of next year,

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Speaker 1: a gradual return to work. So I think we kind

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Speaker 1: of need that to to stop, you know, I said,

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Speaker 1: like some the scar tissue taking place, and and that

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Speaker 1: will maximize the chance that we have a better outcome.

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Speaker 1: It's fascinating to hear people like Jamie Diamond really give

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Speaker 1: this candid, candid look at at just the need for

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Speaker 1: there to be more fiscal support, uh and and just

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Speaker 1: how many people are depending upon it. How Speaker Nancy

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Speaker 1: Pelosi told Democratic colleagues that there are still big differences

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Speaker 1: with the White House over a number of components of

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Speaker 1: the fiscal stimulus, even as an agreement nears on a

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Speaker 1: coronavirus testing program. Meanwhile, Larry Cudlow of the White House

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Speaker 1: suggested the continuing disputes show that Pelosi doesn't uncompromised. He

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Speaker 1: was on Fox Business earlier today and he said that

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Speaker 1: the goalposts are moving. That's what that's according to come though.

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Speaker 1: So all of that's what's happening on the fiscal stimulus front.

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Speaker 1: Joining us now is Michael Reagan who is a senior

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Speaker 1: editor and lead blogger from Bloomberg Markets. Michael, the rill

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Speaker 1: to have you on such a crucial, important day, especially

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Speaker 1: when these talks are at a stalemate, but they're still

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Speaker 1: talking um before we get to fiscal stimulus. What happened

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Speaker 1: in the markets today today? It was pretty much a

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Speaker 1: quiet day, Kevin, And in fact the whole week has

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Speaker 1: been a quiet week. SMP closing the week up about

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Speaker 1: point two per cent, so a little bit of a

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Speaker 1: move higher, but nothing really to write home about. The

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Speaker 1: S ANDP basically flat on the day today, and technology

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Speaker 1: share is of course front and center of everyone's attention.

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Speaker 1: A little week today. Um. Part of what kind of

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Speaker 1: makes today a little tough to stuff out is the

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Speaker 1: options expiration, and that can cause sort of some movements

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Speaker 1: and prices that are are more reflective of what's going

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Speaker 1: on in the options market rather than really what the

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Speaker 1: sentiment is as far as the economy of the markets

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Speaker 1: in the regular stock market. But not a lot of fireworks,

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Speaker 1: which is good for an options exploration day of course,

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Speaker 1: to you know, to see sort of a come closed

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Speaker 1: to the weak and that sort of some wild price wins, Um,

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Speaker 1: But you don't You're absolutely right that the investors are

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Speaker 1: focused pretty much entirely on the situation with stimulus. The

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Speaker 1: read I get from most of the people I talked

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Speaker 1: to and most of the notes I read, is that

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Speaker 1: there's maybe not a consensus, but a near consensus that Okay,

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Speaker 1: we might not get it for the election. We probably

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Speaker 1: won't get a deal before the election. Um, but everyone

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Speaker 1: is looking forward to January. You're seeing Joe Biden's poll

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Speaker 1: numbers right now to double bidgets in some cases. Uh,

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Speaker 1: And everyone is kind of a similar well, if it

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Speaker 1: doesn't happen, you know, while Trumps stone office that Biden's

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Speaker 1: coming in, there will be an even bigger and better

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Speaker 1: plan that comes along with him. To me, I I

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Speaker 1: wonder if people are a little too sanguine about that, um,

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Speaker 1: because in hand with that is the notion that a

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Speaker 1: lot of investors have come around to this idea of

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Speaker 1: blue Suite that the Democrats finally win the White House,

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Speaker 1: they take the House, they take control the House, and

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Speaker 1: they that's where I want to take it. That's where

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Speaker 1: I want to take it. Because Michael Reagan's on the

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Speaker 1: line and he's got this great story out on the

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Speaker 1: Bloomberg terminal the other week. That just I mean, you know,

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Speaker 1: it's it's like Tom Keen always says, you read everything

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Speaker 1: Reagan writes, right, and I'm talking about Michael P. Reagan. Okay,

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Speaker 1: you know we all study up on on former President Reagan.

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Speaker 1: But but at Bloomberg we read Michael P. Reagan blue

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Speaker 1: wave forecasts as a tsunami that drowns the tech giants.

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Speaker 1: And you just alluded to it. Tech had a little

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Speaker 1: bit of a bumpy ride this week. But why why

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Speaker 1: is the tech why why are investors looking at techs

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Speaker 1: as maybe a loser in a blue wave. Well, there

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Speaker 1: was that put that came out last week, um from

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Speaker 1: a committee of House House Representative staffers, Democratic side. Yeah,

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Speaker 1: looking at the anti trust issues with regards of big

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Speaker 1: tech and you know, especially the big uh internet companies. UM.

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Speaker 1: And it was pretty aggressive, you know, the language of that,

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Speaker 1: it was pretty aggressive and and worried some that a

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Speaker 1: blue wave coming in would sort of mean heightened scrutiny

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Speaker 1: on technology companies. UM. So that is that the article

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Speaker 1: you're referencing is an investor who took the position that

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Speaker 1: this is going to be a big deal for tech.

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Speaker 1: I'm not sure if that's a consensus opinion. Um, I

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Speaker 1: think people are sort of in a wait and fee

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Speaker 1: approach as far as how aggressive Democratic controlled White House

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Speaker 1: and Congress would be towards the tech sector. I think

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Speaker 1: they're more focused on this notion that a blue wave

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Speaker 1: would would bring a much bigger stimulus package than otherwise.

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Speaker 1: And to me, I wonder, you know, and kept you'd

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Speaker 1: probably know the the pulling a lot better than me.

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Speaker 1: But yeah, Biden is getting widening out in the polls

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Speaker 1: pretty good. But to me, I wonder if the notion

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Speaker 1: that the Democrats will take control of the Senate is

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Speaker 1: a little bit um probably a less probability of that

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Speaker 1: than say, you know, the probability is given to Biden

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Speaker 1: winning right now. So I do wonder, you know, if

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Speaker 1: the investors are getting a little too aggressive, assuming that

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Speaker 1: that's what's we're gonna see, that the Senate will be

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Speaker 1: retaken by the Democrats and that uh, you know, this

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Speaker 1: big massive stimulus package is signed field and delivered right

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Speaker 1: after at the election. I think that where maybe the

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Speaker 1: you know, the rose colored glasses are a little too

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Speaker 1: too thick because to me, and again you would know better,

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Speaker 1: I'm not sure it's a case closed on the Senate

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Speaker 1: just yet. Based on the various ways to pull. You know,

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Speaker 1: Bishop Shanahan alum Michael P. Reagan's on the line, also

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Speaker 1: a graduate of the un Aniversity of Delaware, Shannon, Bishop Shannon,

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Speaker 1: I'm a Malvern guy. You know my I had a

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Speaker 1: partial scholarship back in Malvern. So I guess, uh, I

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Speaker 1: guess that makes us rivals. I don't know. I don't

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Speaker 1: I don't remember playing any guys. You guys always played

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Speaker 1: in a higher chier league, the Interact. So I'll allow it.

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Speaker 1: I'll well, I'll about Bishop Shannon. I I you know,

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Speaker 1: I was looking and I thought, I can't believe I

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Speaker 1: got a Bishop Shannahan. Hi guy on the on the

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Speaker 1: Bloomberg Radio sound on. I want to go down and

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Speaker 1: get it, get me a cheese steak from my uncle Mikey's,

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Speaker 1: and just call it a day. But we're not because

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Speaker 1: we're focused on a Friday. I'm staying on topic. Okay,

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Speaker 1: we talked about fiscal stimulus. Are you an Eagles fan?

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Speaker 1: But yeah, okay, because it's a rough it's a rough

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Speaker 1: year to Eagles fan. You know, it's like, where's the

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Speaker 1: green wave? That's what I want to know. But then

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Speaker 1: now they're allowing seventy fans to go down to the link.

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Speaker 1: Did you see that they're gonna do that? But Okay,

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Speaker 1: time to get back on topic. The US budget gap

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Speaker 1: triple to a record three point one trillion dollars in

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Speaker 1: fiscal twenties. So I'm looking at this and I and

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Speaker 1: I know, you know, you're absolutely right. Everyone's talking about

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Speaker 1: the prospects of a blue wave. But I I try

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Speaker 1: to look in the longer, long term. There there is

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Speaker 1: a Republican fight that we're just around the corner of having,

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Speaker 1: and it's gonna be a doozy uh. And and I

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Speaker 1: think reminiscent of what you saw in the resurgence at

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Speaker 1: the tea party and people worrying about the the budget gap,

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Speaker 1: people worrying about the deficit. I mean, I'm just I'm

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Speaker 1: just really struck to see, uh, to see what happens

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Speaker 1: on on that front. So in the minute or so

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Speaker 1: that I have left with you, what's where, What's where

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Speaker 1: you what's on your radar? Even beyond November, Well, you know,

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Speaker 1: obviously it all depends, it's Kevin on how this virus progresses.

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Speaker 1: I think some of the cross signals we saw in

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Speaker 1: the market this week were the news out of London

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Speaker 1: where London was really cracking down on basically prohibiting households

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Speaker 1: from visiting each other. Uh. In Paris, you're seeing a

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Speaker 1: perkw and pariis So I think, you know, it's hard

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Speaker 1: to really look too much too far into the future

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Speaker 1: when there are so many questions of virus and when

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Speaker 1: the vaccine is going to be in probable and all that. So, um,

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Speaker 1: I think we've got to get over that help before

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Speaker 1: we can really make you look too far into the future.

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Speaker 1: All right, Michael P. Reagan, Hey, thank you so much. Seriously. Michael,

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Speaker 1: thank you so much for for making time for me

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Speaker 1: on a Friday. He is, of course, our senior editor

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Speaker 1: and lead blogger for Bloomberg Markets, and really no one

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Speaker 1: does it better in terms of just understanding the intersection

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Speaker 1: of the conversations that we have down here with our

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Speaker 1: panelists and and how that's impacting, uh, the investors side

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Speaker 1: of things. Coming up the panel joins me, George c

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Speaker 1: and Joel Ruben. You're listening to Bloomberg Now I one

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Speaker 1: live from our nation's camera. How do we reopen this economy?

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Speaker 1: The latest on how this pandemic is impacting farmers. What

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Speaker 1: does this do for the United States relationship with China?

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Speaker 1: Bloomberg Sound On, The Insiders, the influencers, the insides. We're

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Speaker 1: responding to this crisis and manufacturers are stepping up like

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Speaker 1: never before. We're looking at seventy kennidates for different vactines.

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Speaker 1: How do we make sure a pandemic of this scale

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Speaker 1: never happens again? This is Bloomberg Sound On with Kevin

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Speaker 1: Surrelate on Bloomberg and one oh five point seven f

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Speaker 1: m h D two. Town Halls are yesterday's news. We're

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Speaker 1: spinning it forward for the race up to the Nashville

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Speaker 1: presidential debate. All of that has ongoing talks between Speaker

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Speaker 1: Pelosi and Secretary Venution and what's going on in the markets.

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Speaker 1: Lots to get through. I want to start off with

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Speaker 1: what we saw last night, and there's dueling split screens

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Speaker 1: town hall, and really what the driving conversation still remains,

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Speaker 1: still remains, is the reaction to the COVID nineteen pandemic.

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Speaker 1: So before we get into some of the sound, I

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Speaker 1: want to dive into my Bloomberg terminal for a second,

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Speaker 1: because we've got the tracking from the COVID Tracking Project

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Speaker 1: data of course Hopkins or John Hopkins University and whatnot,

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Speaker 1: all the great medical research being done there, and it

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Speaker 1: shows folks over there. Since March. The four areas of

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Speaker 1: the country, the Northeast, the Midwest, the South, and the West,

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Speaker 1: and the trajectory of the number of cases in each

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Speaker 1: part of the country. So the Northeast peaked, spiked in April,

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Speaker 1: and then it's it's declined really ever since. There's been

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Speaker 1: a slight uptick in the past several weeks. But I've

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Speaker 1: really got my eye on the Midwest and the South

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Speaker 1: because the number of cases is far outpacing the West

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Speaker 1: and the Northeast, and it's continuing to spike up at

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Speaker 1: a trajectory that is more steep than what we're seeing

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Speaker 1: in the north East. Reading from the Bloomberg terminal. The

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Speaker 1: number of daily COVID nineteen cases is continuing its steady

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Speaker 1: climb as temperatures begin to dip across the US, and

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Speaker 1: while far fewer people are ending up hospitalized with the

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Speaker 1: illness than during the pandemic surge in March and April,

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Speaker 1: many more deaths are expected to be added to the

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Speaker 1: almost two hundred and eighteen thousand already reported nationally as

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Speaker 1: cases spike. This is the number that's on my radar. Nationally,

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Speaker 1: seven day moving case averages have climbed to their highest

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Speaker 1: in two months, while the number of currently hospitalized COVID

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Speaker 1: nineteen patients was the most since August. So if that

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Speaker 1: is the intro, let's go back to last night at

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Speaker 1: the two competing town halls where President Trump says that

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Speaker 1: he knew COVID was a big threat, but he didn't

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Speaker 1: want the public to panic. Here he is at the

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Speaker 1: same time, I don't want to panic this country. I

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Speaker 1: don't want to go out and say everybody's going to die.

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Speaker 1: And then Joe Biden on the other channel UH also

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Speaker 1: said that that the president has not done enough, has

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Speaker 1: not done enough with regards to COVID nineteen. Here's Joe Biden.

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Speaker 1: We make up four percent of the world's population, we

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Speaker 1: have of the world's deaths. We're in a situation where

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Speaker 1: we have two hundred and ten plus thousand people dead,

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Speaker 1: and what's he doing? Nothing? That was Joe Biden. Joe

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Speaker 1: Rubin is the executive director of the American Jewish UH

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Speaker 1: Congress and former Deputy Assistant Secretary for Legislative Affairs at

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Speaker 1: the States Department in the Obama administration. And George c Is,

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Speaker 1: CEO of Annandale Capital, a Texas businessman and a former

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Speaker 1: senior advisor to Marco Rubio's presidential campaign. George, I mean,

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Speaker 1: are you disappointed that the president still can't get out

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Speaker 1: in front of this COVID response handling. No, I'm really

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Speaker 1: not kevin. I think that there'd be a lot of

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Speaker 1: finger pointing no matter who was trying to cage this

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Speaker 1: honorary virus tiger. And I think we're gonna be dealing

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Speaker 1: with it for many, many months beyond this right now.

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Speaker 1: So think it's kind of an intractable tar baby issue

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Speaker 1: for Trump and anybody. And I actually think last night

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Speaker 1: was interesting and that there was basically a debate between

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Speaker 1: the NBC moderator and Trump, and I think that actually

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Speaker 1: helps Trump because when you see the media is completely

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Speaker 1: adversarial to Trump, and then you have all these articles

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Speaker 1: today that came out talking about how great it was

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Speaker 1: that Savannah Guthrie took him on so heavily. It's all

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Speaker 1: his self congratulatory talk that most Americans kind of shrug

430
00:24:26,800 --> 00:24:29,560
Speaker 1: at and look like, boy, if everybody's against this guy.

431
00:24:29,600 --> 00:24:31,200
Speaker 1: Can he be all that bad? Or they trying to

432
00:24:31,240 --> 00:24:32,960
Speaker 1: paint a narrative that I have to buy in through

433
00:24:33,000 --> 00:24:35,240
Speaker 1: that I don't want to. So I think Trump is

434
00:24:35,240 --> 00:24:38,200
Speaker 1: still way behind and and it does not look good

435
00:24:38,320 --> 00:24:40,679
Speaker 1: right now, but it didn't look good in either, and

436
00:24:40,880 --> 00:24:42,720
Speaker 1: I don't know how the swing states are gonna fall,

437
00:24:42,800 --> 00:24:44,400
Speaker 1: and I think people are counting him out a little

438
00:24:44,400 --> 00:24:47,840
Speaker 1: too early. George c's with us, you know, And and look, George,

439
00:24:47,840 --> 00:24:50,400
Speaker 1: I mean you and I have talked. I mean, you know,

440
00:24:50,440 --> 00:24:56,440
Speaker 1: what you're doing is describing the conservative frustration at institutions

441
00:24:56,480 --> 00:25:01,080
Speaker 1: of all different kinds, you know, media institutions, but ancial institutions,

442
00:25:01,119 --> 00:25:05,119
Speaker 1: political institutions. And you know, listen, when I talked to

443
00:25:05,280 --> 00:25:08,040
Speaker 1: Trump supporters, that's exactly what they say. And and so

444
00:25:08,160 --> 00:25:12,480
Speaker 1: I think that it's it's difficult sometimes for for media

445
00:25:12,520 --> 00:25:18,639
Speaker 1: institutions to fully grasp that. Joel Reuben your take, well, Kevin,

446
00:25:18,680 --> 00:25:20,639
Speaker 1: I mean, we're in the midst of a pandemic and

447
00:25:20,640 --> 00:25:23,280
Speaker 1: we've got a president who denies that he can do

448
00:25:23,320 --> 00:25:26,199
Speaker 1: anything about it. And I think that that's what was

449
00:25:26,280 --> 00:25:30,240
Speaker 1: really frustrating for our viewers watching last night, who are

450
00:25:30,240 --> 00:25:32,720
Speaker 1: worried like I am. With three kids at home, for example,

451
00:25:32,720 --> 00:25:35,199
Speaker 1: who can't go to school, about what's the plan to

452
00:25:35,240 --> 00:25:37,920
Speaker 1: get us back, what's the plan to get our economy going,

453
00:25:38,240 --> 00:25:42,480
Speaker 1: what's the plan to uh keep the hotspots down? And

454
00:25:42,520 --> 00:25:46,280
Speaker 1: there is none. Instead, the president is flying around and

455
00:25:46,480 --> 00:25:50,240
Speaker 1: super spreader events and not taking responsibility for his actions.

456
00:25:50,280 --> 00:25:53,080
Speaker 1: And so I think that's why we saw the commentary

457
00:25:53,119 --> 00:25:56,320
Speaker 1: about Savannah Gout three pushing because it seems like the

458
00:25:56,320 --> 00:25:59,560
Speaker 1: president lives in a bit of a media free bubble,

459
00:25:59,600 --> 00:26:01,439
Speaker 1: except are the ones who wants to talk to and

460
00:26:01,480 --> 00:26:06,200
Speaker 1: to actually be confronted by an intelligent female reporter put

461
00:26:06,280 --> 00:26:08,399
Speaker 1: him in a position where he had to explain himself

462
00:26:08,560 --> 00:26:11,760
Speaker 1: and he couldn't. And that's what's so scary about this moment.

463
00:26:11,840 --> 00:26:14,800
Speaker 1: I think that's why we're seeing Joe Biden, and obviously

464
00:26:14,880 --> 00:26:17,800
Speaker 1: the ratings board us out because Joe Biden overwhelmed Donald

465
00:26:17,800 --> 00:26:21,000
Speaker 1: Trump in the Nielsen ratings. We're seeing people wanting real

466
00:26:21,160 --> 00:26:24,480
Speaker 1: factual ideas about how to move the country forward and

467
00:26:24,480 --> 00:26:26,320
Speaker 1: how to the pandemic, and that's just what they get

468
00:26:26,400 --> 00:26:30,040
Speaker 1: with Biden. It was just you mentioned the ratings. Let

469
00:26:30,040 --> 00:26:32,480
Speaker 1: me open variety. Hold on here, this, let me get

470
00:26:32,520 --> 00:26:35,400
Speaker 1: it on my terminal variety. You know, they all that's

471
00:26:35,400 --> 00:26:37,480
Speaker 1: what they read out in l A. I guess all

472
00:26:37,600 --> 00:26:43,399
Speaker 1: the Los Angeles people, I don't know. You know it, right, uh?

473
00:26:43,720 --> 00:26:48,280
Speaker 1: Biden average fourteen point one million total viewers on the

474
00:26:48,320 --> 00:26:52,520
Speaker 1: Disney O network ABC. Trump brought in thirteen point five

475
00:26:52,560 --> 00:26:56,919
Speaker 1: across NBC, MSNBC, and CNBC combined. In terms of the

476
00:26:56,920 --> 00:27:01,520
Speaker 1: two Cabler's MSNBC. So I'm Joe, I'm gonna call your

477
00:27:01,520 --> 00:27:04,400
Speaker 1: bluff a little. I call it a drawl fourteen point

478
00:27:04,440 --> 00:27:07,000
Speaker 1: one because, I mean, what is it six hundred thousand

479
00:27:07,040 --> 00:27:09,280
Speaker 1: people and people are flipping back and forth on the channel.

480
00:27:09,280 --> 00:27:12,040
Speaker 1: I mean it's kind of easy. I mean it's not

481
00:27:12,080 --> 00:27:13,840
Speaker 1: like it's not like when you gotta watch a football

482
00:27:13,840 --> 00:27:15,880
Speaker 1: game and you need like two different screen and monitors

483
00:27:15,920 --> 00:27:19,080
Speaker 1: to watch. The things are like when I was a kid,

484
00:27:19,080 --> 00:27:20,840
Speaker 1: my dad would always had me flipped back and forth.

485
00:27:20,920 --> 00:27:23,000
Speaker 1: I'd be like seven years old trying to watch Tim

486
00:27:23,080 --> 00:27:25,160
Speaker 1: Russer and meet the press, and then he's flipping across

487
00:27:25,400 --> 00:27:27,640
Speaker 1: the channel. I said, I'm just starting to learn something, Dad,

488
00:27:27,880 --> 00:27:29,760
Speaker 1: and he's saying, you gotta get all sides of the story.

489
00:27:29,960 --> 00:27:31,440
Speaker 1: You got to get at the sides of the story,

490
00:27:31,480 --> 00:27:34,280
Speaker 1: go ahead, Joe. Well, Kevin, you can only imagine if

491
00:27:34,320 --> 00:27:36,600
Speaker 1: the numbers are in reverse, Donald Trump would be around

492
00:27:36,600 --> 00:27:39,040
Speaker 1: parading today how he won the ratings were, and he

493
00:27:39,080 --> 00:27:41,880
Speaker 1: knows very well that he's a loser in the box office,

494
00:27:41,920 --> 00:27:46,119
Speaker 1: that the American people are getting tired of his uh

495
00:27:46,240 --> 00:27:50,439
Speaker 1: inability to explain basic concepts of how the country out

496
00:27:50,480 --> 00:27:52,919
Speaker 1: of the pandemic. We're going to talk about the economy,

497
00:27:52,920 --> 00:27:56,040
Speaker 1: We're gonna talk about the academy. We're coming up. I'm excited.

498
00:27:56,160 --> 00:27:57,840
Speaker 1: But the only thing is to your point though, and

499
00:27:57,800 --> 00:28:01,320
Speaker 1: I I agree, it's not like he out tasting two

500
00:28:01,359 --> 00:28:04,280
Speaker 1: to one, But my goodness, you know, Joe Biden for

501
00:28:04,359 --> 00:28:07,800
Speaker 1: ninety minutes, Donald Trump for sixty minutes, pure policy versus

502
00:28:07,880 --> 00:28:13,240
Speaker 1: pure um. I don't know. I mean, that's in the

503
00:28:11,840 --> 00:28:15,760
Speaker 1: eye of the uncertainty. George. I'll take it. It's a win.

504
00:28:15,920 --> 00:28:18,800
Speaker 1: Is a win, George. Did you watch all the Sunday

505
00:28:18,800 --> 00:28:22,880
Speaker 1: shows when you were a kid, George, cy No. I

506
00:28:22,880 --> 00:28:25,320
Speaker 1: I'm kind of tired of all the talking heads. I

507
00:28:25,680 --> 00:28:28,040
Speaker 1: think the American people are going to decide this election,

508
00:28:28,080 --> 00:28:30,720
Speaker 1: and I've got a lot of confidence and what their

509
00:28:30,800 --> 00:28:33,440
Speaker 1: verdict will be. And I really think that there are

510
00:28:33,480 --> 00:28:35,840
Speaker 1: excellent points being made on COVID. I think if the

511
00:28:35,880 --> 00:28:40,960
Speaker 1: conversation between between now and election day, it's Friday, it's fine.

512
00:28:41,160 --> 00:28:43,280
Speaker 1: We gotta loosen up. We gotta loosen up a little.

513
00:28:43,320 --> 00:28:45,480
Speaker 1: George and Joel, come on, we gotta talk to stimulus.

514
00:28:45,640 --> 00:28:48,719
Speaker 1: We're gonna loosen up. We got the panel staying. It's Friday.

515
00:28:48,800 --> 00:28:51,560
Speaker 1: It's overcasting in d C. I'm Kevin Serelle. You're listening

516
00:28:51,600 --> 00:29:02,560
Speaker 1: to Bloomberg nine and one O My Baby, kiss Me

517
00:29:06,160 --> 00:29:14,800
Speaker 1: fil My Hard. This is Bloomberg. Sound On with Kevin

518
00:29:14,880 --> 00:29:20,000
Speaker 1: Shirley on Bloomberg and one oh five point h two.

519
00:29:20,320 --> 00:29:23,400
Speaker 1: I'm Kevin Surley, Chief Washington correspondent for Bloomberg Television and

520
00:29:23,520 --> 00:29:28,120
Speaker 1: for Bloomberg Radio. Stocks are mixed as giant technology companies

521
00:29:28,200 --> 00:29:32,520
Speaker 1: dropped amid Friday's expiration of equity options, tempering optimism with

522
00:29:32,640 --> 00:29:36,480
Speaker 1: better than estimated economic data. The dollar fell, the SMP

523
00:29:36,560 --> 00:29:40,840
Speaker 1: five hundred close little changed, while still notching its longest

524
00:29:40,880 --> 00:29:44,000
Speaker 1: weekly advanced since August, and then AZDAC one hundred fell.

525
00:29:44,080 --> 00:29:47,120
Speaker 1: Amazon slumped. A city group said its statement on a

526
00:29:47,200 --> 00:29:51,160
Speaker 1: recent sales event lacked the usual biggest day ever notation,

527
00:29:52,000 --> 00:29:55,280
Speaker 1: so that was went on in the markets. Meanwhile, Jamie Diamond,

528
00:29:55,720 --> 00:30:01,320
Speaker 1: Jamie Diamond was speaking earlier today at a virtual conference,

529
00:30:01,440 --> 00:30:03,000
Speaker 1: and we actually have a little bit of it. Jamie

530
00:30:03,000 --> 00:30:06,120
Speaker 1: Diamond of JP Morgan. Uh. Take a listen to what

531
00:30:06,160 --> 00:30:08,680
Speaker 1: he had to say about the need for fiscal stimulus.

532
00:30:08,720 --> 00:30:11,800
Speaker 1: Here's Jamie Diamond. I think to get out of this recession,

533
00:30:11,880 --> 00:30:14,640
Speaker 1: what we need is more fiscal Steamon's really to help

534
00:30:14,640 --> 00:30:17,640
Speaker 1: small businesses and the unemployed, maybe a couple of industries.

535
00:30:17,720 --> 00:30:20,040
Speaker 1: It's not it's not monetary submission means they need that

536
00:30:20,120 --> 00:30:22,320
Speaker 1: help to get them through to April May June of

537
00:30:22,440 --> 00:30:25,200
Speaker 1: next year, a gradual return to works. I think we

538
00:30:25,280 --> 00:30:27,360
Speaker 1: kind of need that to to stop, you know, I said,

539
00:30:27,360 --> 00:30:30,000
Speaker 1: like some miscar tissue taking place, and and that will

540
00:30:30,200 --> 00:30:33,560
Speaker 1: maximize the chance that we have a better outcome. I'm

541
00:30:33,600 --> 00:30:37,000
Speaker 1: so thrilled to bring back in our pattern. Joel rout Panel.

542
00:30:37,720 --> 00:30:41,080
Speaker 1: Joel Rubin is the executive director of the American Jewish

543
00:30:41,320 --> 00:30:43,240
Speaker 1: Congress that congrats on the new gig and what we'll

544
00:30:43,280 --> 00:30:46,160
Speaker 1: talk about that coming up. Tools also the former Deputy

545
00:30:46,200 --> 00:30:49,520
Speaker 1: Assistant Secretary for Legislative Affairs at the Obama States Department,

546
00:30:49,800 --> 00:30:53,520
Speaker 1: so he really can offer a geopolitical, global look on things.

547
00:30:53,520 --> 00:30:55,800
Speaker 1: And George c of course, the CEO of an Andzel Capital.

548
00:30:55,840 --> 00:30:59,360
Speaker 1: He's a Texas businessman um and a former senior advisor

549
00:30:59,400 --> 00:31:01,600
Speaker 1: to Marco rue. So George, let's start with you. I mean,

550
00:31:01,600 --> 00:31:04,040
Speaker 1: you hear you're heard right there from Mr Diamond, which

551
00:31:04,120 --> 00:31:06,680
Speaker 1: is the need for more physical stimulus. I want to

552
00:31:06,680 --> 00:31:09,640
Speaker 1: remove the politics for a second, and just when you're

553
00:31:09,640 --> 00:31:12,040
Speaker 1: talking to your clients, when you're talking to the business

554
00:31:12,080 --> 00:31:14,600
Speaker 1: community down to the great state of Texas, I mean,

555
00:31:14,640 --> 00:31:17,320
Speaker 1: are they anxious, are they nervous about the lack of

556
00:31:17,320 --> 00:31:20,040
Speaker 1: of additional fiscal support that's coming. And I don't think

557
00:31:20,080 --> 00:31:22,760
Speaker 1: they're they're blaming one party. I think they're blaming the

558
00:31:22,760 --> 00:31:27,600
Speaker 1: whole town. George, No, I'm not really hearing that we've

559
00:31:27,600 --> 00:31:30,520
Speaker 1: already had trillions of dollars a stimulus, and yes, we

560
00:31:30,600 --> 00:31:32,520
Speaker 1: definitely would like some more. But I think it's very

561
00:31:32,520 --> 00:31:36,080
Speaker 1: clear that the Republicans have said we'd like somewhere between

562
00:31:36,080 --> 00:31:39,160
Speaker 1: five and a trillion five a stimulus, but we're really

563
00:31:39,160 --> 00:31:40,920
Speaker 1: worried about the debt and the death it and we

564
00:31:40,920 --> 00:31:43,040
Speaker 1: want to keep it somewhat limited until we see how

565
00:31:43,040 --> 00:31:45,959
Speaker 1: the economy does. And the Democrats want way more than

566
00:31:46,000 --> 00:31:47,960
Speaker 1: we can afford it. But most of the talk down

567
00:31:48,040 --> 00:31:51,240
Speaker 1: here Kevin is not about stimulus. It's about the Biden

568
00:31:51,240 --> 00:31:54,560
Speaker 1: administration wanting to almost double the capital games tax and

569
00:31:54,680 --> 00:31:57,600
Speaker 1: raise the corporate tax right almost, and that will be

570
00:31:58,080 --> 00:32:00,880
Speaker 1: horrible for the economy. It's very clear which party is

571
00:32:01,280 --> 00:32:03,600
Speaker 1: better for business, and I think that the election may

572
00:32:03,640 --> 00:32:05,920
Speaker 1: come down to whether people are focused on COVID or

573
00:32:06,320 --> 00:32:09,880
Speaker 1: our business, with business being the antidote and the the

574
00:32:09,880 --> 00:32:11,920
Speaker 1: the thing that pulls us out of COVID eventually, and

575
00:32:11,960 --> 00:32:14,720
Speaker 1: if we shut down again or we don't have pro

576
00:32:14,840 --> 00:32:16,920
Speaker 1: business policies going into next year, it's gonna be really

577
00:32:16,960 --> 00:32:18,480
Speaker 1: hard to come out of it. So so much of

578
00:32:18,480 --> 00:32:20,920
Speaker 1: the conversations that I have with my colleagues Jonathan paraoh,

579
00:32:21,000 --> 00:32:25,040
Speaker 1: Lisa Bramots, and Tom Keane over on Bloomberg Surveillance is

580
00:32:25,400 --> 00:32:28,760
Speaker 1: is just how investors are starting to price in the

581
00:32:28,800 --> 00:32:34,480
Speaker 1: prospects of what a democratic Washington d C in January

582
00:32:34,680 --> 00:32:39,000
Speaker 1: would mean for all of these different issues. And from

583
00:32:39,120 --> 00:32:42,760
Speaker 1: the investors side of perspective, they will turn any outcome

584
00:32:42,840 --> 00:32:46,840
Speaker 1: into a victory, right. I mean, if there's a Republican hold,

585
00:32:47,240 --> 00:32:50,760
Speaker 1: it'll be deregulation and so that will be a win.

586
00:32:51,160 --> 00:32:55,479
Speaker 1: But if it's Democrats control, then George, it will be well,

587
00:32:55,480 --> 00:32:57,440
Speaker 1: there's more fiscal stimulus, So yes, there might be an

588
00:32:57,480 --> 00:33:00,040
Speaker 1: increase in taxes, but there'll be more government spending. It

589
00:33:00,040 --> 00:33:03,000
Speaker 1: should be good for infrastructure. I mean, can you square

590
00:33:03,000 --> 00:33:06,400
Speaker 1: that circle for me? Yeah? Sure, I can tell you

591
00:33:06,440 --> 00:33:09,160
Speaker 1: that the the false narrative of it's all gonna be

592
00:33:09,360 --> 00:33:12,600
Speaker 1: copacetic if the Democrats control everything, is Wall Street trying

593
00:33:12,640 --> 00:33:16,440
Speaker 1: to cozy up to a potential Biden administration and engaging

594
00:33:16,480 --> 00:33:20,360
Speaker 1: in magical thinking, because much higher taxes, much higher regulation,

595
00:33:20,440 --> 00:33:22,680
Speaker 1: and anti business policies will not be good for the

596
00:33:22,720 --> 00:33:25,600
Speaker 1: country or the economy. I think most people in the

597
00:33:25,640 --> 00:33:28,400
Speaker 1: business community, especially on Main Street, would love to see

598
00:33:28,800 --> 00:33:32,760
Speaker 1: split government, whether that's Trump with the House kind of

599
00:33:32,760 --> 00:33:36,360
Speaker 1: holding him back, or whether it's Biden with the Republicans

600
00:33:35,960 --> 00:33:39,080
Speaker 1: continuing to hold the Senate. I think most people view

601
00:33:39,120 --> 00:33:41,920
Speaker 1: that the less Washington does, the better. And if the

602
00:33:41,960 --> 00:33:44,880
Speaker 1: Democrats control everything, I think it's canna be really bad

603
00:33:44,920 --> 00:33:47,120
Speaker 1: for the economy and we might get a short term

604
00:33:47,160 --> 00:33:50,840
Speaker 1: magical thinking stock market rally in terms of the sugar

605
00:33:50,920 --> 00:33:53,040
Speaker 1: high you'll get for more stimulus, but that will fade

606
00:33:53,600 --> 00:33:56,920
Speaker 1: and the anti anti business tax policies will will drag

607
00:33:56,960 --> 00:33:58,960
Speaker 1: down the economy. So I don't think that's a good thing.

608
00:33:59,040 --> 00:34:01,760
Speaker 1: I think most people would want divided government. Really really

609
00:34:01,760 --> 00:34:04,120
Speaker 1: fascinating your course at George Sea. He is the chairman

610
00:34:04,160 --> 00:34:06,680
Speaker 1: of Annandel Capital. He's also the chairman of the Texas

611
00:34:06,720 --> 00:34:09,920
Speaker 1: Israel Alliance Jewelry Been. I mean, just to go geo

612
00:34:09,960 --> 00:34:13,560
Speaker 1: political for a second, uh, in terms of of where

613
00:34:13,600 --> 00:34:19,399
Speaker 1: the global economy and America's place in the recovery from

614
00:34:19,400 --> 00:34:23,240
Speaker 1: this pandemic. You know, the only economy in the world

615
00:34:23,600 --> 00:34:28,399
Speaker 1: that is expected to grow this year, it's China, I mean,

616
00:34:28,480 --> 00:34:32,400
Speaker 1: And and even from from a data perspective, Uh, the

617
00:34:32,400 --> 00:34:35,560
Speaker 1: contraction of the United States is still a smaller contraction

618
00:34:36,400 --> 00:34:40,560
Speaker 1: then most of our allies. I mean. So, so from

619
00:34:40,600 --> 00:34:43,200
Speaker 1: that perspective, I know we're in political season. I know

620
00:34:43,360 --> 00:34:45,920
Speaker 1: we're in a polarizing time, but we've got to be

621
00:34:45,960 --> 00:34:48,399
Speaker 1: able to see the forest from the trees. And so

622
00:34:48,600 --> 00:34:52,400
Speaker 1: I guess, regardless of the outcome of the November elections,

623
00:34:52,719 --> 00:34:56,600
Speaker 1: put it in perspective about America's role, Joel Ruben uh

624
00:34:56,719 --> 00:35:02,480
Speaker 1: in terms of the global recovery moving forward. Yeah, Kevin, look,

625
00:35:02,520 --> 00:35:05,799
Speaker 1: I really appreciated what you framed it, because we are

626
00:35:05,920 --> 00:35:11,760
Speaker 1: disconnecting currently from the global economic infrastructure that has made

627
00:35:11,760 --> 00:35:14,799
Speaker 1: America the wealthiest, most prosperous nation in the history of

628
00:35:14,840 --> 00:35:18,439
Speaker 1: the planet. And it's it's deeply distressing because it will

629
00:35:18,960 --> 00:35:21,879
Speaker 1: make it that much harder for us to climb out

630
00:35:21,880 --> 00:35:24,040
Speaker 1: of this hole that we're in. And in the recession

631
00:35:24,080 --> 00:35:26,759
Speaker 1: near depression, which is what we're in, you've got to

632
00:35:26,800 --> 00:35:28,920
Speaker 1: spend your way out of it. Jamie Diamond says that,

633
00:35:29,040 --> 00:35:33,160
Speaker 1: Jerome Powell says it. The Congress and the President agreed

634
00:35:33,280 --> 00:35:36,560
Speaker 1: months ago on doing that to keep us from going

635
00:35:36,600 --> 00:35:39,239
Speaker 1: over the cliff. And we need we need to we

636
00:35:39,280 --> 00:35:41,680
Speaker 1: need to really take care of our people. I'm sorry,

637
00:35:41,719 --> 00:35:45,360
Speaker 1: with all due respect to George. People are suffering right now.

638
00:35:45,560 --> 00:35:47,720
Speaker 1: They're on the version of getting kicked out of their homes.

639
00:35:47,960 --> 00:35:52,000
Speaker 1: There's no unemployment insurance flowing, and this is this is

640
00:35:52,080 --> 00:35:55,000
Speaker 1: dangerous for us. And then how do we go to

641
00:35:55,000 --> 00:36:01,680
Speaker 1: to the global recovery uh, when we're frankly disconnecting on trade,

642
00:36:02,080 --> 00:36:06,120
Speaker 1: when we are you know, clearly not engaging in the

643
00:36:06,160 --> 00:36:12,000
Speaker 1: multilateral institutions anymore for recovery programs. Potentially, it is not

644
00:36:12,160 --> 00:36:14,960
Speaker 1: clear to me what the plan is to reinvigorate the

645
00:36:15,000 --> 00:36:19,120
Speaker 1: American economy and the global economy post pandemic. Alright, coming up,

646
00:36:19,120 --> 00:36:22,000
Speaker 1: we're gonna talk more with our panel. We're gonna go

647
00:36:22,120 --> 00:36:26,719
Speaker 1: back to UH politics and as well as more fiscal stimulus.

648
00:36:26,719 --> 00:36:30,359
Speaker 1: It's too complete, all stars really, they just really know

649
00:36:30,800 --> 00:36:35,759
Speaker 1: these issues inside and out, inside and out. George c

650
00:36:36,200 --> 00:36:39,680
Speaker 1: and uh and Joel Ruben. Download the Bloomberg Sound On

651
00:36:39,719 --> 00:36:43,080
Speaker 1: podcast on Apple iTunes, at Bloomberg dot com, or by

652
00:36:43,120 --> 00:36:45,520
Speaker 1: downloading the Bloomberg Business App. You can also find me

653
00:36:45,560 --> 00:36:49,799
Speaker 1: on Radio dot com, I Heart Radio, and Spotify. UH.

654
00:36:49,920 --> 00:36:53,960
Speaker 1: And we're gonna head to Capitol Hill as well. That's

655
00:36:54,000 --> 00:37:12,400
Speaker 1: coming up next. You're listening to Bloomberg. This is Bloomberg's

656
00:37:12,440 --> 00:37:17,120
Speaker 1: Sound On with Kevin Surrele on Bloomberg and one oh

657
00:37:17,200 --> 00:37:20,640
Speaker 1: five point seven f M HD two. I'm Kevin Sireli,

658
00:37:20,760 --> 00:37:27,000
Speaker 1: Chief Washington correspondent for Bloomberg Television and for UH Bloomberg Radio.

659
00:37:27,239 --> 00:37:32,120
Speaker 1: Olivia Rockman on the Bloomberg Terminal. US manufacturing production unexpectedly

660
00:37:32,239 --> 00:37:36,120
Speaker 1: declined in September, the first decrease in five months, pointing

661
00:37:36,120 --> 00:37:40,120
Speaker 1: to a setback for factories as the pandemic drags on

662
00:37:40,920 --> 00:37:44,240
Speaker 1: the point three percent drop and output of factories followed

663
00:37:44,239 --> 00:37:48,200
Speaker 1: an upwardly revised one percent gain in August according to

664
00:37:48,280 --> 00:37:52,640
Speaker 1: Federal Reserve data that was released earlier today, Economists that

665
00:37:52,680 --> 00:37:58,000
Speaker 1: predicted point six increase according to a survey of Bloomberg economists.

666
00:37:58,200 --> 00:38:01,560
Speaker 1: Joining us for the panel, We've got Joe Rubin, Executive

667
00:38:01,600 --> 00:38:04,840
Speaker 1: Director of the American Jewish Congress. Joel, congrats on the

668
00:38:04,840 --> 00:38:08,040
Speaker 1: new gig. What are you gonna be doing? I really

669
00:38:08,080 --> 00:38:12,239
Speaker 1: appreciate it, Kevin, thank you so much. And it's it's

670
00:38:12,280 --> 00:38:16,000
Speaker 1: just an amazing opportunity to help shape the Jewish Jewish

671
00:38:16,000 --> 00:38:21,040
Speaker 1: community Voice for Tomorrow. We are a century old organization

672
00:38:21,920 --> 00:38:25,920
Speaker 1: founded by Lewis Brandeis who became a Supreme Court justice

673
00:38:26,560 --> 00:38:30,040
Speaker 1: and have been at the forefront of civil rights in America,

674
00:38:30,800 --> 00:38:34,120
Speaker 1: at promoting peace and dialogue and support for Israel and

675
00:38:34,160 --> 00:38:37,000
Speaker 1: the Jewish community here. And so it's an opportunity to

676
00:38:37,120 --> 00:38:40,640
Speaker 1: really engage within the community and without to try to

677
00:38:40,640 --> 00:38:44,640
Speaker 1: promote the ideals of Jewish ideals of of of promoting

678
00:38:44,640 --> 00:38:48,600
Speaker 1: peace and security into Cundolam. And uh, I'm sure feeling

679
00:38:48,680 --> 00:38:50,399
Speaker 1: very fortunate to be part of it. Well, I'm sure

680
00:38:50,440 --> 00:38:53,759
Speaker 1: we'll be talking to you quite frequently, as we always do.

681
00:38:53,840 --> 00:38:55,960
Speaker 1: Joe Verman, George, I didn't realize you were the chairman

682
00:38:55,960 --> 00:38:58,760
Speaker 1: of the Texas Israel Chamber of Commerce. Tell us about

683
00:38:58,760 --> 00:39:02,920
Speaker 1: your work on that. Yeah, sure, that's a great segue.

684
00:39:03,000 --> 00:39:05,960
Speaker 1: I'm also chairman of the Clement Center for National Security,

685
00:39:05,960 --> 00:39:09,200
Speaker 1: and I work for sec Secretary Lawrence Eagelberger in the

686
00:39:09,200 --> 00:39:12,520
Speaker 1: Bush forty one administration, So I'm very on top of

687
00:39:12,560 --> 00:39:16,239
Speaker 1: geopolitics and economic considerations like Joel is, and I think

688
00:39:16,280 --> 00:39:19,400
Speaker 1: that in terms of peace, what Trump did in moving

689
00:39:19,440 --> 00:39:22,680
Speaker 1: the US UH Embassy to Jerusalem and getting the UAE

690
00:39:22,840 --> 00:39:25,719
Speaker 1: and Bahrain to recognize Israel as historic and it's it's

691
00:39:25,840 --> 00:39:28,680
Speaker 1: very good for peace and cooperation in the Middle East.

692
00:39:28,680 --> 00:39:31,200
Speaker 1: And I hope Saudi Arabian and others follow suit real quickly.

693
00:39:31,239 --> 00:39:33,440
Speaker 1: And I just want to echo what Joel said. I

694
00:39:33,800 --> 00:39:38,920
Speaker 1: totally agree. I don't disagree. To characterize my my position

695
00:39:39,120 --> 00:39:42,440
Speaker 1: correctly that we do need more stimulus. I think the

696
00:39:42,520 --> 00:39:45,840
Speaker 1: question is as your as your news reporters said just

697
00:39:45,880 --> 00:39:49,440
Speaker 1: about five minutes ago, that we're three trillion in deficit

698
00:39:49,560 --> 00:39:52,000
Speaker 1: this year and you can't spend like a drunken sailor

699
00:39:52,080 --> 00:39:54,359
Speaker 1: like Pelosi and the Democrats want to I think five

700
00:39:54,719 --> 00:39:58,160
Speaker 1: billion to about a trillion, five to people who needed

701
00:39:58,200 --> 00:40:00,719
Speaker 1: the most makes a lot of sense. But go hiramatic

702
00:40:00,840 --> 00:40:04,359
Speaker 1: doesn't make sense. It's bad for the country. George, if

703
00:40:04,400 --> 00:40:06,560
Speaker 1: I can add, I mean, we were heading into troll

704
00:40:07,320 --> 00:40:10,560
Speaker 1: the territory before the coronavirus, and that was President Trump,

705
00:40:10,920 --> 00:40:20,160
Speaker 1: tax politics, Obama and Obama. We're not gonna do this.

706
00:40:20,200 --> 00:40:24,200
Speaker 1: I'm not gonna do this to no fig on fig

707
00:40:24,320 --> 00:40:27,719
Speaker 1: on the plane? Can I talk? Can I talk? Not true, sir?

708
00:40:28,280 --> 00:40:33,680
Speaker 1: All right? Can I talk? Can I talk? I feel

709
00:40:33,719 --> 00:40:35,920
Speaker 1: like I'm back in Delco, where I've got Mom and

710
00:40:36,040 --> 00:40:41,560
Speaker 1: Dad debating politics, chickens down, Chicken's quote, mooring down, Vicky's

711
00:40:41,600 --> 00:40:44,799
Speaker 1: quoteing Rush Limbaugh. I mean, come on, folks, geez all

712
00:40:44,880 --> 00:40:47,279
Speaker 1: right now listen. But I think with George, because I

713
00:40:47,320 --> 00:40:49,440
Speaker 1: don't want to do the crossfire thing. It's really not

714
00:40:49,480 --> 00:40:53,120
Speaker 1: the direction I want to go. And trust me, no, yeah,

715
00:40:53,239 --> 00:40:55,160
Speaker 1: but here's what I do. I want to be analytical

716
00:40:55,200 --> 00:40:58,360
Speaker 1: about this right because I think with George, with George Cee,

717
00:40:58,760 --> 00:41:01,120
Speaker 1: the CEO of and and deelk Opital just tapped into

718
00:41:01,480 --> 00:41:04,400
Speaker 1: is a fight that is going to emerge regardless of

719
00:41:04,400 --> 00:41:07,840
Speaker 1: the outcome in November, which is there are many prominent

720
00:41:07,880 --> 00:41:13,080
Speaker 1: Republicans who are incredibly, incredibly wary of all of this

721
00:41:13,239 --> 00:41:17,000
Speaker 1: government spending and the impact that it's having on businesses

722
00:41:17,040 --> 00:41:20,200
Speaker 1: not being able to hire. That is I think, in

723
00:41:20,239 --> 00:41:23,600
Speaker 1: the long term, a conversation that will that we will

724
00:41:23,640 --> 00:41:26,880
Speaker 1: be having in the lead up of the of of

725
00:41:27,000 --> 00:41:32,160
Speaker 1: any presidential primary, And regardless of the outcome in in

726
00:41:32,160 --> 00:41:35,719
Speaker 1: in November, it's going to be an open Republican primary.

727
00:41:35,960 --> 00:41:38,400
Speaker 1: So I actually think what George just tapped into is

728
00:41:38,440 --> 00:41:41,520
Speaker 1: spot on in terms of the political winds of the

729
00:41:41,600 --> 00:41:44,000
Speaker 1: long term. And sometimes, and I said it once earlier,

730
00:41:44,280 --> 00:41:46,520
Speaker 1: we've got to be able to see the forest from

731
00:41:46,560 --> 00:41:50,239
Speaker 1: the trees, even in these heightened politicized time. All right,

732
00:41:50,920 --> 00:41:56,000
Speaker 1: I will say that nowadays then I try, you know,

733
00:41:56,800 --> 00:41:58,520
Speaker 1: I try. It's time to after my favorite part of

734
00:41:58,520 --> 00:42:00,080
Speaker 1: the show, which is what is on the panels at

735
00:42:00,080 --> 00:42:04,680
Speaker 1: our Georgey, what's on your radar, my mom my radar

736
00:42:04,840 --> 00:42:06,840
Speaker 1: is getting our country back on the right track. And

737
00:42:07,040 --> 00:42:11,080
Speaker 1: I think that that's that's a completely non political, nonpartisan goal.

738
00:42:11,280 --> 00:42:13,279
Speaker 1: And we've got to get through the pandemic, and we've

739
00:42:13,320 --> 00:42:16,280
Speaker 1: got to get effective treatments and and a vaccine both,

740
00:42:16,760 --> 00:42:19,240
Speaker 1: and we've got to have pro business policies going forward.

741
00:42:19,280 --> 00:42:21,239
Speaker 1: And I was just trying to point out earlier in

742
00:42:21,320 --> 00:42:24,000
Speaker 1: terms of being objective and factual, and if you really

743
00:42:24,000 --> 00:42:26,800
Speaker 1: get down to back to the debt, Kevin, the last

744
00:42:26,800 --> 00:42:31,080
Speaker 1: three presidents we've all had, Bush, Obama, and Trump have

745
00:42:31,239 --> 00:42:34,120
Speaker 1: all spent like drunken sailors. And it's got to stop

746
00:42:34,160 --> 00:42:36,760
Speaker 1: at some point because we're gonna spend ourselves in into

747
00:42:36,840 --> 00:42:39,400
Speaker 1: a default on the debt at some point, especially with

748
00:42:39,600 --> 00:42:42,160
Speaker 1: entitlements rearing, So we're gonna have to have really sober

749
00:42:42,280 --> 00:42:46,880
Speaker 1: sound thinking on government spending, growing the economy, and trying

750
00:42:46,880 --> 00:42:50,400
Speaker 1: to balance our revenues and expenditures, which really we have

751
00:42:50,440 --> 00:42:53,600
Speaker 1: been unable to do since the George H. W. Bush

752
00:42:53,680 --> 00:42:56,719
Speaker 1: tax agreement with George Mitchelin the Democrats, which resulted in

753
00:42:56,760 --> 00:42:59,200
Speaker 1: a surplus during the Clinton years. And we got a

754
00:42:59,200 --> 00:43:00,719
Speaker 1: long hard road ahead of us to get back to

755
00:43:00,760 --> 00:43:03,240
Speaker 1: that and get our our country on more stable footing.

756
00:43:03,400 --> 00:43:05,120
Speaker 1: And George, you know, when I speak to people like

757
00:43:05,200 --> 00:43:08,000
Speaker 1: Keith Croc at the State Department, UH and and just

758
00:43:08,040 --> 00:43:10,239
Speaker 1: all the work they're doing in terms of five G

759
00:43:11,080 --> 00:43:14,640
Speaker 1: and and just globally trying to bring about just an

760
00:43:14,680 --> 00:43:18,320
Speaker 1: alliance of sorts in terms of international technology and whatnot.

761
00:43:18,360 --> 00:43:21,840
Speaker 1: I mean, all of these conversations are are factored into it,

762
00:43:21,920 --> 00:43:24,640
Speaker 1: and so it's going to be remarkable. There just has

763
00:43:24,680 --> 00:43:27,560
Speaker 1: to be as as as we all know, there has

764
00:43:27,600 --> 00:43:30,480
Speaker 1: to be an ability to have those conversations. And so

765
00:43:30,680 --> 00:43:33,400
Speaker 1: I think you're spot on in terms of reading the

766
00:43:33,440 --> 00:43:37,440
Speaker 1: political uh tea leaves of what's going to happen in

767
00:43:37,520 --> 00:43:41,799
Speaker 1: January one, because like I said, folks, I mean play

768
00:43:41,840 --> 00:43:44,000
Speaker 1: the long game. It's a marathon, not a sprint. Joel

769
00:43:44,080 --> 00:43:47,440
Speaker 1: Room and what's on your radar? Well, I am definitely

770
00:43:47,440 --> 00:43:49,239
Speaker 1: going to agree with George John. We need to make

771
00:43:49,239 --> 00:43:50,719
Speaker 1: sure we get our house in order. I think we're

772
00:43:50,719 --> 00:43:52,400
Speaker 1: going to disagree on how we get there, but I

773
00:43:52,480 --> 00:43:55,400
Speaker 1: appreciate that the point about the nonpartisan, non political and

774
00:43:55,480 --> 00:43:57,960
Speaker 1: I think there's something that popped up again last night

775
00:43:58,080 --> 00:43:59,799
Speaker 1: we should all be able to agree on, which is

776
00:43:59,800 --> 00:44:04,000
Speaker 1: that hate speech and conspiracy theory need to be blocked

777
00:44:04,080 --> 00:44:07,960
Speaker 1: from our political dialogue. And last night the President talked

778
00:44:08,000 --> 00:44:12,279
Speaker 1: about Q and on and didn't denounce it, and it

779
00:44:12,680 --> 00:44:16,719
Speaker 1: is essentially as a Jewish American, it's reminiscent of blood Bibles,

780
00:44:16,960 --> 00:44:20,799
Speaker 1: and even the FBI is calling it essentially in the

781
00:44:20,880 --> 00:44:23,359
Speaker 1: in the hate speech realm. And there's a lot of

782
00:44:23,400 --> 00:44:26,319
Speaker 1: concern about where hate is heading in this country and

783
00:44:26,320 --> 00:44:29,280
Speaker 1: conspiracy theory and and and that's high on my radar

784
00:44:29,320 --> 00:44:33,040
Speaker 1: because we're seeing many candidates for Congress now mirroring the

785
00:44:33,120 --> 00:44:35,360
Speaker 1: language the President used last night on Q and on

786
00:44:35,680 --> 00:44:37,520
Speaker 1: and we may get one or two of them in Congress,

787
00:44:37,560 --> 00:44:40,080
Speaker 1: which is going to be very controversial. It's very difficult,

788
00:44:40,239 --> 00:44:41,799
Speaker 1: but we're going to have to stand up to it.

789
00:44:42,280 --> 00:44:46,880
Speaker 1: Another thing that's all my radar is that Speaker Pelosi

790
00:44:47,200 --> 00:44:50,400
Speaker 1: might actually be leading on President Trump to lean on

791
00:44:50,520 --> 00:44:53,160
Speaker 1: follow me to lean on set a majority Leader Mitch

792
00:44:53,239 --> 00:44:56,279
Speaker 1: McConnell to get to some type of fiscal stimulus deal.

793
00:44:56,320 --> 00:44:58,840
Speaker 1: I actually think to George C's point of Vanderdale Capital

794
00:44:58,880 --> 00:45:00,359
Speaker 1: and then I gotta let the panel go. And they've

795
00:45:00,360 --> 00:45:02,799
Speaker 1: been so generous with their time and their insights on

796
00:45:02,840 --> 00:45:07,400
Speaker 1: a Friday afternoon and evening. Um is just the relationship

797
00:45:07,440 --> 00:45:10,520
Speaker 1: between President Trump and Leader McConnell. I'm gonna be fascinated

798
00:45:10,560 --> 00:45:12,399
Speaker 1: to see that, especially if it happens in a lame

799
00:45:12,480 --> 00:45:17,080
Speaker 1: duck session. Whether or not the price tag on the

800
00:45:17,080 --> 00:45:21,160
Speaker 1: fiscal stimulus front increases or decreases dependent on that. My

801
00:45:21,239 --> 00:45:24,640
Speaker 1: thanks to Joel Reuben, My thanks to George C. He is,

802
00:45:24,640 --> 00:45:28,120
Speaker 1: of course the CEO of Annandale Capital. Appreciate both of

803
00:45:28,160 --> 00:45:31,480
Speaker 1: your time, gentlemen. On a Friday. Coming up next we

804
00:45:31,560 --> 00:45:36,080
Speaker 1: check him our Congressman Brendan Boyle, a Democrat from Pennsylvania,

805
00:45:36,400 --> 00:45:39,200
Speaker 1: so we will talk to the Philadelphia Eagles with Congressman Boyle.

806
00:45:39,520 --> 00:45:41,920
Speaker 1: Download the Bloomberg Sound On podcast on Apple iTunes and

807
00:45:41,920 --> 00:45:44,040
Speaker 1: Bloomberg dot Com, or by downloading the Bloomberg Business app.

808
00:45:44,040 --> 00:45:45,480
Speaker 1: You can also find me on Radio dot Com, I

809
00:45:45,520 --> 00:46:14,280
Speaker 1: Heart Radio and Spotify. You're listening to Bloomberg. You're listening

810
00:46:14,360 --> 00:46:18,960
Speaker 1: to Bloomberg Sound On with Kevin Surrele on Bloomberg and

811
00:46:19,000 --> 00:46:21,200
Speaker 1: one or five point seven f M h D two.

812
00:46:21,600 --> 00:46:24,280
Speaker 1: I'm Kevin Surley, chief fashion to correspondent for Bloomberg Television

813
00:46:24,280 --> 00:46:26,759
Speaker 1: and for Bloomberg Radio. I'm joining us on the line

814
00:46:26,800 --> 00:46:29,960
Speaker 1: Congressman Brendan Boyle, who was, of course a Democrat from

815
00:46:29,960 --> 00:46:34,000
Speaker 1: the great state of Pennsylvania, battleground state. Congressman Boyle, how

816
00:46:34,040 --> 00:46:37,400
Speaker 1: are you great to be back with you? Kevin should

817
00:46:37,400 --> 00:46:41,919
Speaker 1: we get rid of Carson Wentz. I'm glad you're going

818
00:46:42,080 --> 00:46:46,880
Speaker 1: right to the most important controversial issue as opposed to,

819
00:46:47,120 --> 00:46:50,480
Speaker 1: you know, the secondary issue of the presidential campaign. I'm

820
00:46:50,520 --> 00:46:52,759
Speaker 1: going to take a lot of grief for this, but

821
00:46:52,920 --> 00:46:58,959
Speaker 1: I am still sticking with Carson. Um. I know it's

822
00:46:59,080 --> 00:47:02,359
Speaker 1: time to move move on. I don't think it's time

823
00:47:02,400 --> 00:47:05,920
Speaker 1: to move on. I mean, I looked the decision with

824
00:47:05,960 --> 00:47:08,400
Speaker 1: Carson over Nick Foles. Whether that was right or not,

825
00:47:08,680 --> 00:47:11,239
Speaker 1: the fact is we can't do that over We We

826
00:47:11,320 --> 00:47:14,279
Speaker 1: stuck with Carson. We traded up for him. We know

827
00:47:14,440 --> 00:47:17,720
Speaker 1: what he's been capable of in a couple of seasons now,

828
00:47:18,160 --> 00:47:20,200
Speaker 1: and I think he's our best bet to just see.

829
00:47:20,280 --> 00:47:24,280
Speaker 1: I just I just have I just have such vibes

830
00:47:24,920 --> 00:47:28,799
Speaker 1: of Donnovan McNabb. And you know what, McNabb never won

831
00:47:28,920 --> 00:47:31,040
Speaker 1: a Super Bowl. I'm sorry, I got I gotta go

832
00:47:31,200 --> 00:47:35,040
Speaker 1: there because it just drives me absolutely insane. Congressman, it

833
00:47:35,120 --> 00:47:39,479
Speaker 1: drives me insane. Listen. I still have the number five

834
00:47:39,520 --> 00:47:42,000
Speaker 1: Eagles jersey my wife bought me, and I look at

835
00:47:42,000 --> 00:47:44,360
Speaker 1: it sometimes and get a chuckle. You know the great

836
00:47:44,360 --> 00:47:47,799
Speaker 1: thing about Donovan McNabb, though, whenever you needed someone to

837
00:47:47,840 --> 00:47:51,560
Speaker 1: throw that bounced path at a wide reviewer's ankles that

838
00:47:51,840 --> 00:47:54,680
Speaker 1: McNab was there. So I know I was always more

839
00:47:54,719 --> 00:47:56,920
Speaker 1: of a Terrello instant, and I think that says a

840
00:47:56,960 --> 00:47:59,799
Speaker 1: lot about me and Anthony Manzine. He would understand I'm

841
00:48:00,120 --> 00:48:04,040
Speaker 1: t O Bloomberg. Okay, back to the issues that matter. Uh,

842
00:48:04,520 --> 00:48:08,440
Speaker 1: battleground state, battleground state, Pennsylvania. What are you noticing there

843
00:48:08,480 --> 00:48:12,520
Speaker 1: on the ground. Yeah, So first, I mean our hometown

844
00:48:12,680 --> 00:48:16,600
Speaker 1: bias society, there is a new plausible mass that gets

845
00:48:16,600 --> 00:48:19,720
Speaker 1: either Donald Trump or Joe Biden to to seventy without

846
00:48:19,760 --> 00:48:24,080
Speaker 1: Pennsylvania's twenty. I mean, we really are the keystone of

847
00:48:24,239 --> 00:48:27,400
Speaker 1: this election. Um. You know, I would say back in

848
00:48:27,600 --> 00:48:31,879
Speaker 1: late August, this was probably about a six point race

849
00:48:32,000 --> 00:48:36,399
Speaker 1: nationally and maybe four or five in Pennsylvania. Since then,

850
00:48:36,480 --> 00:48:39,560
Speaker 1: things have really moved Biden's way. I think both nationally

851
00:48:40,200 --> 00:48:42,200
Speaker 1: n n p A, we're about two or three points

852
00:48:42,200 --> 00:48:45,279
Speaker 1: better than we were we were then. So, um, I

853
00:48:45,640 --> 00:48:48,759
Speaker 1: still think that it's closer in Pennsylvania than what you're

854
00:48:48,760 --> 00:48:52,080
Speaker 1: seeing in some of those national um, you know, popular

855
00:48:52,239 --> 00:48:55,920
Speaker 1: vote uh sort of polls, like the real clear average

856
00:48:55,920 --> 00:48:57,600
Speaker 1: has at at ten point. That's not a ten point

857
00:48:57,719 --> 00:49:01,240
Speaker 1: race in Pennsylvania. But that said, there is no question

858
00:49:01,280 --> 00:49:04,640
Speaker 1: that Joe Biden is leading right now and outside the

859
00:49:04,640 --> 00:49:07,600
Speaker 1: margin of error. Okay, Congress and Brendan Boyle's on the line.

860
00:49:07,640 --> 00:49:11,520
Speaker 1: He represents Pennsylvania's second congressional district. He's a Democrat. He

861
00:49:11,600 --> 00:49:14,319
Speaker 1: is also a member of the House Committee on the

862
00:49:14,320 --> 00:49:17,240
Speaker 1: Budget as well as the House Committee on Ways and Means.

863
00:49:17,640 --> 00:49:19,160
Speaker 1: And I want to talk to you about about these

864
00:49:19,200 --> 00:49:23,360
Speaker 1: important budgetary issues. What I mean, are you frustrated? Don't

865
00:49:23,640 --> 00:49:25,359
Speaker 1: Here's what I don't want because I've heard it all weekend.

866
00:49:25,360 --> 00:49:28,080
Speaker 1: It's Friday, so I'm being very candid. I understand that

867
00:49:28,080 --> 00:49:31,200
Speaker 1: that Democrats in the House passed a massive uh A

868
00:49:31,360 --> 00:49:34,920
Speaker 1: government stimulus bill three trillion plus several months ago. I

869
00:49:35,040 --> 00:49:38,200
Speaker 1: understand that it's going nowhere in the Senate. But take

870
00:49:38,239 --> 00:49:40,560
Speaker 1: me into the rank and file member world. Is there

871
00:49:40,640 --> 00:49:46,040
Speaker 1: frustration from the Centrists that there isn't an ability to

872
00:49:46,160 --> 00:49:49,000
Speaker 1: get to a compromise or is that an over exaggeration

873
00:49:49,000 --> 00:49:52,080
Speaker 1: in the media. But well, there's there's an important step

874
00:49:52,160 --> 00:49:54,279
Speaker 1: that that you missed there. Though yes, it is true

875
00:49:54,280 --> 00:49:57,959
Speaker 1: that on at we passed the original Heroes at three

876
00:49:57,960 --> 00:50:02,000
Speaker 1: point four trillion, dollars. Then though, we actually passed another bill,

877
00:50:02,680 --> 00:50:05,239
Speaker 1: uh the that was at two point to trillion, that

878
00:50:05,320 --> 00:50:07,719
Speaker 1: was just a few weeks ago. And the idea how

879
00:50:07,719 --> 00:50:09,840
Speaker 1: it came to be two point two The idea was

880
00:50:09,880 --> 00:50:13,880
Speaker 1: well looked. The last McConnell Senate Republican figure was one trillion.

881
00:50:14,640 --> 00:50:18,480
Speaker 1: Our original bill months ago was three point four um

882
00:50:18,680 --> 00:50:22,479
Speaker 1: or no excuse me, I'm messing up the mess myself here,

883
00:50:22,760 --> 00:50:27,120
Speaker 1: but um so the original you can see why I'm

884
00:50:27,120 --> 00:50:32,840
Speaker 1: in politics. Um, and we both want to do sports radio.

885
00:50:35,280 --> 00:50:38,600
Speaker 1: The the median point between three point four trillion, which

886
00:50:38,600 --> 00:50:40,759
Speaker 1: is our original bill and the one trillion which the

887
00:50:40,800 --> 00:50:43,840
Speaker 1: Senate Republicans have thrown out there is two point two trillion.

888
00:50:43,920 --> 00:50:46,719
Speaker 1: That is literally meeting you halfway. So we went and

889
00:50:46,920 --> 00:50:49,160
Speaker 1: passed where I think we're calling the Heroes Act two

890
00:50:49,160 --> 00:50:52,160
Speaker 1: point oh, which is at two point to trillion dollars.

891
00:50:52,160 --> 00:50:55,520
Speaker 1: It's literally attempting to bridge the gap right in the middle.

892
00:50:55,600 --> 00:50:59,200
Speaker 1: And so if if the Senate Republicans or the White

893
00:50:59,200 --> 00:51:01,080
Speaker 1: House don't want to do the Heroes Act that we

894
00:51:01,120 --> 00:51:03,440
Speaker 1: passed months ago, fine, all they have to do is

895
00:51:03,480 --> 00:51:05,160
Speaker 1: pick up the bill we just passed a couple of

896
00:51:05,160 --> 00:51:09,120
Speaker 1: weeks ago. It's at two point two trillion. Trump Uh,

897
00:51:09,360 --> 00:51:12,080
Speaker 1: either in an interview or on Twitter, said that he

898
00:51:12,120 --> 00:51:14,960
Speaker 1: wanted to go bigger and bolder than the one point

899
00:51:15,040 --> 00:51:18,400
Speaker 1: eight trillion, But there's literally legislation sitting right there. I

900
00:51:18,440 --> 00:51:21,000
Speaker 1: do think though, and I think this part has been

901
00:51:21,000 --> 00:51:23,520
Speaker 1: missed over the last week in the media. I don't

902
00:51:23,520 --> 00:51:26,759
Speaker 1: actually think the biggest stumbling block is the House Democratic

903
00:51:26,840 --> 00:51:29,840
Speaker 1: leadership where the caucus. I don't think the biggest stumbling

904
00:51:29,960 --> 00:51:32,760
Speaker 1: block is minutation or the White House. The biggest stumbling

905
00:51:32,760 --> 00:51:35,920
Speaker 1: block is really Mitch McConnell on the Senate. Republicans, in

906
00:51:35,960 --> 00:51:38,279
Speaker 1: their heart of hearts, they do not want to do

907
00:51:38,440 --> 00:51:41,120
Speaker 1: another stimulus bill, and I think that has been clear

908
00:51:41,160 --> 00:51:44,440
Speaker 1: over the last several months. That's really where the biggest problem. Okay,

909
00:51:44,440 --> 00:51:46,160
Speaker 1: So I grew up in Delco congressman, as you know,

910
00:51:46,320 --> 00:51:49,120
Speaker 1: and and you know, and what are they saying at

911
00:51:49,120 --> 00:51:51,360
Speaker 1: Barnaby's I've been able to go home because of the pandemic.

912
00:51:51,400 --> 00:51:54,200
Speaker 1: But what are they say in terms of physical statements,

913
00:51:54,239 --> 00:51:56,400
Speaker 1: because you are there are parts of your district, but

914
00:51:56,520 --> 00:51:58,640
Speaker 1: it's a it's a blue district, but there are parts,

915
00:51:58,840 --> 00:52:01,680
Speaker 1: as you know, you about to the refineries and whatnot

916
00:52:01,719 --> 00:52:05,600
Speaker 1: where where there are Republican supporters and Democrats and it's

917
00:52:05,600 --> 00:52:08,319
Speaker 1: swing and and but but so what are what what

918
00:52:08,480 --> 00:52:12,799
Speaker 1: is Washington missing from the conversation at Barnaby's. Yeah, so,

919
00:52:12,880 --> 00:52:16,000
Speaker 1: like northeast Philadelphias is a lot like say Upper Garb

920
00:52:16,160 --> 00:52:18,919
Speaker 1: and Delco blue collar. It's it's it's where I live,

921
00:52:19,040 --> 00:52:21,239
Speaker 1: where I grew up. When I was a state Rep.

922
00:52:21,320 --> 00:52:24,320
Speaker 1: I one what had always been a Republican state rep district.

923
00:52:24,320 --> 00:52:27,200
Speaker 1: There was a Republican machine in my area, the same

924
00:52:27,200 --> 00:52:30,920
Speaker 1: way there was for for generations in in Delco. Um So,

925
00:52:30,960 --> 00:52:33,600
Speaker 1: even though I have very democratic parts of my district,

926
00:52:33,640 --> 00:52:37,360
Speaker 1: I also have very fifty and even mean Republican areas.

927
00:52:37,840 --> 00:52:40,080
Speaker 1: But I will tell you though, whether it's a very

928
00:52:40,120 --> 00:52:43,879
Speaker 1: blue area or a Purpolish area, it's just a lot

929
00:52:43,880 --> 00:52:47,439
Speaker 1: of frustration and and a lot of pain out there. Um.

930
00:52:47,640 --> 00:52:50,560
Speaker 1: The fact that months ago we didn't get this resolved

931
00:52:51,080 --> 00:52:54,879
Speaker 1: is enormously frustrating. I mean, I take Amtrak uh back

932
00:52:54,920 --> 00:52:57,439
Speaker 1: and forth every week, um or at least a couple

933
00:52:57,440 --> 00:52:59,160
Speaker 1: of times a week to get from my home in

934
00:52:59,200 --> 00:53:02,759
Speaker 1: Philly down to d C. They're amtrack workers who I'm

935
00:53:02,800 --> 00:53:05,839
Speaker 1: friends with, including two who are constituents who have gotten

936
00:53:05,920 --> 00:53:09,880
Speaker 1: layoff notices. UM, there are people on my block who

937
00:53:09,960 --> 00:53:14,360
Speaker 1: are being affected by this. UM. Teachers like my wife

938
00:53:14,360 --> 00:53:17,000
Speaker 1: were about to pull their hair out because of the

939
00:53:17,080 --> 00:53:19,480
Speaker 1: lack of support for them, even though they're now doing

940
00:53:19,520 --> 00:53:23,480
Speaker 1: twice as much work in a hybrid or virtual education model.

941
00:53:23,880 --> 00:53:27,200
Speaker 1: So there's just a lot of frustration out there and

942
00:53:27,320 --> 00:53:30,160
Speaker 1: a lot of pain too, because you know, if you're

943
00:53:30,160 --> 00:53:34,560
Speaker 1: in the knowledge economy, you're still largely working. Um, you

944
00:53:34,640 --> 00:53:38,719
Speaker 1: haven't been affected that much. If you were a waitress,

945
00:53:38,920 --> 00:53:41,080
Speaker 1: if you were a hotel worker, if you're in the

946
00:53:41,760 --> 00:53:49,600
Speaker 1: entertainment industry, forget recession, forget depression, this is zero. I mean,

947
00:53:49,719 --> 00:53:52,480
Speaker 1: you're not working at all. So this is probably the

948
00:53:52,520 --> 00:53:56,640
Speaker 1: most unique economic downturn in American history because it's not

949
00:53:56,719 --> 00:53:59,880
Speaker 1: affecting everybody equally. It's just that's very well said. I mean,

950
00:54:00,040 --> 00:54:03,279
Speaker 1: that's something that Republicans and Democrats can can all agree with.

951
00:54:03,360 --> 00:54:05,000
Speaker 1: I only have a minute left with you, so very

952
00:54:05,120 --> 00:54:07,759
Speaker 1: very quickly, Uh, Toomey's out, he's not running for Senate

953
00:54:07,800 --> 00:54:09,880
Speaker 1: in two or do you want to Senate seat you're

954
00:54:09,880 --> 00:54:14,160
Speaker 1: gonna run? I don't know. I am after this election.

955
00:54:14,560 --> 00:54:17,200
Speaker 1: I am obviously going to consider. I've had a number

956
00:54:17,200 --> 00:54:20,520
Speaker 1: of people reach out and encourage me to to run,

957
00:54:20,560 --> 00:54:23,600
Speaker 1: but I do believe in one election at the time. Um,

958
00:54:23,600 --> 00:54:26,440
Speaker 1: obviously just because the family considerations as well, and with

959
00:54:26,480 --> 00:54:29,879
Speaker 1: a small child, you know, statewide races is a lot,

960
00:54:30,080 --> 00:54:35,719
Speaker 1: so talking about it over the holidays. She is six

961
00:54:35,880 --> 00:54:39,120
Speaker 1: and she was born about a month and a half

962
00:54:40,040 --> 00:54:43,719
Speaker 1: or a few months before I won my race. So

963
00:54:43,840 --> 00:54:46,440
Speaker 1: time does fly, Time does fly, all right? And then

964
00:54:46,440 --> 00:54:52,319
Speaker 1: the final question, Eagles Ravens, who's your pick? I'm gonna

965
00:54:52,360 --> 00:54:54,560
Speaker 1: go with my heart over my head on this money,

966
00:54:54,719 --> 00:54:58,319
Speaker 1: I'm gonna take the Eagles. Um, you know, it's it's

967
00:54:58,360 --> 00:55:01,560
Speaker 1: a crazy year. They have been really poor at the beginning,

968
00:55:01,560 --> 00:55:05,120
Speaker 1: but I feel like last week, even in defeat, they

969
00:55:05,200 --> 00:55:07,440
Speaker 1: might have turned the corner and playing an accent, I

970
00:55:07,480 --> 00:55:13,200
Speaker 1: don't feel at all see this there's I don't you know.

971
00:55:13,320 --> 00:55:16,000
Speaker 1: I I listened to Angelo every morning getting ready for work,

972
00:55:16,040 --> 00:55:19,520
Speaker 1: and I'm just totally on that bandwagon. All right. Thank you,

973
00:55:19,560 --> 00:55:23,600
Speaker 1: my friend A Congressman Brendan Boyle, Democrat from Philly, thanks

974
00:55:23,600 --> 00:55:25,360
Speaker 1: for listening up. Kevin's really have a great weekend. Everybody,

975
00:55:25,400 --> 00:55:29,560
Speaker 1: you're listening to Woodberg nine and Night one on the

976
00:55:29,680 --> 00:55:39,560
Speaker 1: dock side of me remains drums him. Did you know

977
00:55:40,080 --> 00:55:43,400
Speaker 1: that when it's knows, my eyes become a