1
00:00:00,480 --> 00:00:05,239
Speaker 1: Why from our nation's camera. How do we reopen this economy?

2
00:00:05,360 --> 00:00:08,480
Speaker 1: The latest on how this pandemic is impacting farmers. What

3
00:00:08,560 --> 00:00:11,559
Speaker 1: does this do for the United States relationship with China?

4
00:00:11,720 --> 00:00:16,680
Speaker 1: Bloomberg Sound On, The Insiders, the influencers, the insides. We're

5
00:00:16,680 --> 00:00:19,880
Speaker 1: responding to this crisis and manufacturers are stepping up like

6
00:00:20,000 --> 00:00:23,560
Speaker 1: never before. You're looking at seventy Kennedys for different vaccines.

7
00:00:23,640 --> 00:00:26,320
Speaker 1: How do we make sure a pandemic of this scale

8
00:00:26,360 --> 00:00:30,400
Speaker 1: never happens again? This is Bloomberg Sound On with Kevin

9
00:00:30,480 --> 00:00:34,760
Speaker 1: Surrelate on Bloomberg and one oh five point seven f

10
00:00:34,920 --> 00:00:39,000
Speaker 1: m h D two TikTok. Microsoft looks to move in

11
00:00:39,040 --> 00:00:42,040
Speaker 1: on TikTok plus the latest on Capitol Hill. Lots to

12
00:00:42,080 --> 00:00:44,440
Speaker 1: get through. Congressman John garret Man, He's gonna kick things off.

13
00:00:44,440 --> 00:00:48,000
Speaker 1: Democrat in California, Folks, they're still at an impass. They're

14
00:00:48,080 --> 00:00:51,360
Speaker 1: still at an impass on Capitol Hill. No nude developments

15
00:00:51,680 --> 00:00:54,080
Speaker 1: to report as it relates to whether or not there

16
00:00:54,080 --> 00:00:57,440
Speaker 1: will be a potential breakthrough. But maybe someone who can

17
00:00:57,520 --> 00:01:02,680
Speaker 1: help break this down this Congressman John Garamendi. Congressman Garamendy

18
00:01:02,920 --> 00:01:07,080
Speaker 1: is of course a Democrat from California and Congressmen, where

19
00:01:07,080 --> 00:01:10,440
Speaker 1: are we in terms of reaching a deal on economic stimulus?

20
00:01:12,040 --> 00:01:14,880
Speaker 1: A deal will be done. Exactly what it is is

21
00:01:15,560 --> 00:01:17,319
Speaker 1: very very much up in the air, but it'll be

22
00:01:17,360 --> 00:01:19,800
Speaker 1: done and they'll be uh. I think there'll be the

23
00:01:19,880 --> 00:01:24,480
Speaker 1: major elements of the House bill will take place. Uh.

24
00:01:24,600 --> 00:01:27,560
Speaker 1: To the amount of money, well, that's negotiable and that's

25
00:01:27,600 --> 00:01:30,880
Speaker 1: moving around. We came in with the trillion dollars for

26
00:01:31,040 --> 00:01:33,480
Speaker 1: state and local governments, which are really hurting because of

27
00:01:33,520 --> 00:01:38,280
Speaker 1: the shutdown, sales tax other tax revenues just cratering, as

28
00:01:38,319 --> 00:01:43,440
Speaker 1: well as the six peace supplement for the uninsurance for

29
00:01:43,520 --> 00:01:49,520
Speaker 1: the uninsured employment program. But we'll see what happens here.

30
00:01:49,600 --> 00:01:52,880
Speaker 1: I suspect that there'll be a number and they'll get done,

31
00:01:52,920 --> 00:01:56,960
Speaker 1: probably towards the end of this week. Right now, time

32
00:01:57,040 --> 00:01:59,880
Speaker 1: is marching on and people are without the benefits. There's

33
00:01:59,880 --> 00:02:04,600
Speaker 1: also this very very big problem of renters being forced

34
00:02:04,600 --> 00:02:08,960
Speaker 1: out of their homes for the moratorium on rent payments.

35
00:02:09,000 --> 00:02:13,840
Speaker 1: Are rent being paid is now over, and so we're

36
00:02:13,840 --> 00:02:17,519
Speaker 1: gonna see what happens here. So Okay, So the the

37
00:02:18,160 --> 00:02:21,040
Speaker 1: what I'm hearing from my sources, Congressman, is the debate

38
00:02:21,120 --> 00:02:24,440
Speaker 1: really is. I mean, yes, there your world's apartment Republicans

39
00:02:24,480 --> 00:02:27,400
Speaker 1: on where the money should be allocated. But in terms

40
00:02:27,480 --> 00:02:32,320
Speaker 1: of where this process goes, Republicans are saying they are

41
00:02:32,360 --> 00:02:34,960
Speaker 1: willing to have a short term extension. Speaker Pelosi hit

42
00:02:35,000 --> 00:02:37,680
Speaker 1: the Sunday shows, as you know, and said absolutely not

43
00:02:37,840 --> 00:02:39,960
Speaker 1: that most of her cancus wants to see a long

44
00:02:40,080 --> 00:02:43,520
Speaker 1: term deal, but I mean, with so many Americans feeling

45
00:02:43,639 --> 00:02:47,160
Speaker 1: so many pain, so much pain, as you noted, you know,

46
00:02:47,680 --> 00:02:52,360
Speaker 1: rent evictions and and and unemployment benefits, not to mention

47
00:02:52,639 --> 00:02:55,799
Speaker 1: the economic anxiety for those Americans who have been able

48
00:02:56,080 --> 00:02:59,160
Speaker 1: to hold onto a job but are facing the potential

49
00:02:59,200 --> 00:03:01,880
Speaker 1: of furloughs or layoffs at the end of the year.

50
00:03:02,800 --> 00:03:05,320
Speaker 1: Can you get to some type of short term deal

51
00:03:05,440 --> 00:03:08,120
Speaker 1: or some type of an agreement in the next couple

52
00:03:08,160 --> 00:03:12,600
Speaker 1: of days or is that now just to wash The

53
00:03:12,680 --> 00:03:14,880
Speaker 1: offer that was put on the table for short term

54
00:03:14,960 --> 00:03:17,960
Speaker 1: was one week. I mean, that's ridiculous. That is just

55
00:03:18,120 --> 00:03:20,800
Speaker 1: really ridiculous, because how are you going to get up

56
00:03:21,520 --> 00:03:25,639
Speaker 1: begin the process once again and then stop seven days later?

57
00:03:25,800 --> 00:03:28,960
Speaker 1: Not going to make any sense whatsoever. Uh. And in

58
00:03:29,000 --> 00:03:31,680
Speaker 1: addition to that, we'd be right back at it a

59
00:03:31,760 --> 00:03:34,440
Speaker 1: week or two, whatever the period is. We need to

60
00:03:34,480 --> 00:03:39,280
Speaker 1: settle this out. This pandemic isn't going away anytime soon.

61
00:03:39,920 --> 00:03:42,040
Speaker 1: We're going to be faced with this throughout the fall,

62
00:03:42,760 --> 00:03:47,680
Speaker 1: probably into the early year of and so let's set

63
00:03:47,720 --> 00:03:49,760
Speaker 1: it up. Let's make sure that people know that they

64
00:03:49,760 --> 00:03:53,240
Speaker 1: can count on the unemployment insurance whatever the number is, six,

65
00:03:55,800 --> 00:03:58,600
Speaker 1: whatever the number is. Let people know that they can

66
00:03:58,640 --> 00:04:02,160
Speaker 1: count on the food banks being open, that the snap,

67
00:04:02,280 --> 00:04:05,280
Speaker 1: the food stamp programs, all of those programs, and for

68
00:04:05,400 --> 00:04:09,600
Speaker 1: the and for the local governments. The reason this is

69
00:04:09,640 --> 00:04:14,560
Speaker 1: called the Heroes Bill is that governments across the nation, state,

70
00:04:14,720 --> 00:04:21,400
Speaker 1: local districts, and hospitals are in a very desperate financial situation.

71
00:04:21,560 --> 00:04:24,359
Speaker 1: There the bottom has fallen out of their revenue, the

72
00:04:24,440 --> 00:04:27,719
Speaker 1: tax revenues have created, and they're going to be laying off.

73
00:04:27,760 --> 00:04:30,360
Speaker 1: They'll start laying off as central people, people that are

74
00:04:30,400 --> 00:04:34,960
Speaker 1: necessary for public health, people that are necessary for police,

75
00:04:35,640 --> 00:04:39,400
Speaker 1: fire protection, a lot of things that that we don't

76
00:04:39,440 --> 00:04:42,240
Speaker 1: really that we know we need, but we don't think

77
00:04:42,279 --> 00:04:45,120
Speaker 1: about because they're always there. You know, the sanitation system

78
00:04:45,160 --> 00:04:49,200
Speaker 1: will work really when half the sanitation workers get laid off,

79
00:04:49,320 --> 00:04:52,800
Speaker 1: maybe not. Garbage will get picked up, maybe maybe not.

80
00:04:53,400 --> 00:04:57,240
Speaker 1: So anyway, that's what we need to deal with, recognizing

81
00:04:57,320 --> 00:04:59,800
Speaker 1: this is not a short term problem. This is in

82
00:05:00,000 --> 00:05:04,880
Speaker 1: all probability of five to six months, we hope. So

83
00:05:05,120 --> 00:05:07,320
Speaker 1: let me let me ask you something that I've been

84
00:05:07,360 --> 00:05:11,000
Speaker 1: asking many Democrats like yourself, which is, and in the

85
00:05:11,080 --> 00:05:13,080
Speaker 1: last version of the stimulus, you voted for this, and

86
00:05:13,120 --> 00:05:15,680
Speaker 1: we've got two minutes left, but would you do you

87
00:05:15,800 --> 00:05:18,400
Speaker 1: do you think it's important to provide some economic tax

88
00:05:18,440 --> 00:05:22,839
Speaker 1: relief for small and medium sized businesses if provided if keyword,

89
00:05:22,920 --> 00:05:25,720
Speaker 1: if they agreed to not lay anyone off for furlough

90
00:05:25,760 --> 00:05:30,680
Speaker 1: anyone by the end of the year. Well, we did

91
00:05:30,760 --> 00:05:33,640
Speaker 1: something very similar with the p p P program, which

92
00:05:33,640 --> 00:05:37,320
Speaker 1: basically says that if you don't lay these people off

93
00:05:38,320 --> 00:05:42,919
Speaker 1: and you continue to employ them, you can have the

94
00:05:43,000 --> 00:05:46,760
Speaker 1: money and it is forgiven. In one sense, it's much

95
00:05:46,760 --> 00:05:49,480
Speaker 1: better than a tax issue because it actually is cash

96
00:05:50,080 --> 00:05:52,320
Speaker 1: that was readily available. Now you don't have to wait

97
00:05:52,360 --> 00:05:57,760
Speaker 1: a year until there's a uh A tax refund comes in.

98
00:05:58,320 --> 00:06:00,120
Speaker 1: So I think what we were doing at the p

99
00:06:00,279 --> 00:06:04,960
Speaker 1: P program is very good. Unfortunately, the administration of it

100
00:06:05,000 --> 00:06:09,360
Speaker 1: by the Trump administration was very bad. A good portion

101
00:06:09,360 --> 00:06:12,279
Speaker 1: of that money wound up where it wasn't needed. Uh

102
00:06:12,360 --> 00:06:17,080
Speaker 1: and the largest portion went to the very large corporations. Uh.

103
00:06:17,480 --> 00:06:21,960
Speaker 1: So small businesses absolutely need help, there's no doubt about it.

104
00:06:22,320 --> 00:06:25,680
Speaker 1: But I personally prefer the p p P program oriented

105
00:06:25,680 --> 00:06:30,840
Speaker 1: towards small business, keeping the people employed employed as much

106
00:06:30,920 --> 00:06:34,160
Speaker 1: as possible, recognizing that many of them simply are not

107
00:06:34,200 --> 00:06:38,120
Speaker 1: going to be able to operate. Yeah, alright, Congress with

108
00:06:38,200 --> 00:06:40,680
Speaker 1: John Garamandy Democrat from New York. I'm so appreciative of

109
00:06:40,720 --> 00:06:42,360
Speaker 1: your time. I know you've been working around the clock

110
00:06:42,400 --> 00:06:44,400
Speaker 1: on this that Thank you so much for calling in

111
00:06:44,400 --> 00:06:46,280
Speaker 1: to give us an update. And coming up, we've got

112
00:06:46,400 --> 00:06:50,520
Speaker 1: the fallout and more economic fallout on Microsoft and TikTok.

113
00:06:50,600 --> 00:06:53,160
Speaker 1: My name is Kevin Cerelian, the chief Washington correspondent for

114
00:06:53,240 --> 00:07:00,359
Speaker 1: Bloomberg Television and for Bloomberg Radio. And you're listening to Bloomberg. Yeah,

115
00:07:07,080 --> 00:07:10,400
Speaker 1: my name is Kevin Curially. I am the chief Washington

116
00:07:10,440 --> 00:07:13,320
Speaker 1: correspondent for Boomberg Television and for Boomberg Radio. And we're

117
00:07:13,320 --> 00:07:15,600
Speaker 1: gonna go behind the scenes because Roger Fiske is on.

118
00:07:15,640 --> 00:07:19,880
Speaker 1: He's a Democratic insider, Obama world insider, you know, knows

119
00:07:19,920 --> 00:07:21,800
Speaker 1: everyone in Obama World. What am I going to know

120
00:07:21,840 --> 00:07:25,120
Speaker 1: who the vice presidential pick is for for presumptive Democratic

121
00:07:25,120 --> 00:07:29,520
Speaker 1: presidential nominee Joe Biden, I would imagine just about a

122
00:07:29,560 --> 00:07:32,440
Speaker 1: week from now. I think it'll be It'll come out

123
00:07:32,520 --> 00:07:34,240
Speaker 1: early in the week so that you can frame a

124
00:07:34,240 --> 00:07:37,480
Speaker 1: whole bunch of amplification around it um and builds kind

125
00:07:37,520 --> 00:07:39,240
Speaker 1: of a narrative around it. But I would imagine the

126
00:07:39,280 --> 00:07:42,120
Speaker 1: beginning of next week. Okay, And who do you think

127
00:07:42,120 --> 00:07:45,520
Speaker 1: it's gonna be. Well, if it's a if it's a

128
00:07:45,560 --> 00:07:48,640
Speaker 1: policy pick, it I think it goes in the Warring direction.

129
00:07:48,760 --> 00:07:51,440
Speaker 1: If it's a geographic pick, I think it goes in

130
00:07:51,520 --> 00:07:55,800
Speaker 1: the Deming's direction. And if it's a kind of narrative

131
00:07:55,880 --> 00:07:57,760
Speaker 1: pick in terms of like someone who can help tell

132
00:07:57,760 --> 00:07:59,920
Speaker 1: a broader story about America, then I think it goes

133
00:08:00,000 --> 00:08:02,920
Speaker 1: and the Harris direction. So it really comes down to

134
00:08:03,000 --> 00:08:06,000
Speaker 1: where does where does team bid? And think they need

135
00:08:06,000 --> 00:08:11,680
Speaker 1: a little extra muscle, a little a little expanding capacity

136
00:08:11,720 --> 00:08:14,520
Speaker 1: to tell a particular story. But those are the three

137
00:08:14,600 --> 00:08:17,440
Speaker 1: that I would really be looking at right now. All right,

138
00:08:17,440 --> 00:08:20,040
Speaker 1: I'm gonna bring into this conversation Sarah Lenty. She's a

139
00:08:20,080 --> 00:08:24,360
Speaker 1: Republican strategist and the executive director at the Lincoln Project, Sarah,

140
00:08:24,520 --> 00:08:27,320
Speaker 1: like I said, we've been having technical difficult to teas,

141
00:08:27,400 --> 00:08:29,720
Speaker 1: but my good friend Nancy lyon and the break was

142
00:08:29,760 --> 00:08:31,960
Speaker 1: trying to get the board up and running, the rebooting

143
00:08:32,000 --> 00:08:34,560
Speaker 1: the system in New York. But I'm focused on President

144
00:08:34,640 --> 00:08:38,400
Speaker 1: I'm grateful to have you on this program. I know

145
00:08:38,440 --> 00:08:40,360
Speaker 1: you're at the Lincoln Project, which of course has been

146
00:08:40,400 --> 00:08:43,120
Speaker 1: quite critical of the President's re election efforts. So what

147
00:08:43,280 --> 00:08:46,640
Speaker 1: will you be looking for an a Biden vice presidential

148
00:08:46,720 --> 00:08:49,920
Speaker 1: pick that would be able to attract not progressives, but

149
00:08:50,000 --> 00:08:54,240
Speaker 1: maybe Republicans like yourself who are disenfranchised from President Trump's coalition.

150
00:08:54,840 --> 00:08:58,440
Speaker 1: You know, I look at um, I look at Dworth,

151
00:08:59,440 --> 00:09:01,640
Speaker 1: and I think you look at her record of service

152
00:09:01,960 --> 00:09:05,440
Speaker 1: from the military to the Senate. Her husband is a

153
00:09:05,800 --> 00:09:08,840
Speaker 1: is a combat veteran as well. I think her narrative

154
00:09:08,960 --> 00:09:11,560
Speaker 1: is a very interesting one and one that could be

155
00:09:11,840 --> 00:09:16,840
Speaker 1: potentially very helpful with respect to bringing on moderate moderates

156
00:09:16,840 --> 00:09:20,920
Speaker 1: and off Republicans. So if it's not if it's if

157
00:09:20,960 --> 00:09:23,720
Speaker 1: it is a progressive, if it is a Senator Harris

158
00:09:23,760 --> 00:09:28,000
Speaker 1: for example, for example, Sarah, what would that do for

159
00:09:28,120 --> 00:09:31,320
Speaker 1: your work at the Lincoln Project? And the sense does

160
00:09:31,360 --> 00:09:34,439
Speaker 1: it matter are you all in for for Biden at

161
00:09:34,480 --> 00:09:37,839
Speaker 1: this point, even if it is a progressive, progressive pick,

162
00:09:37,880 --> 00:09:40,959
Speaker 1: And I say that respectfully, no, and I hear you

163
00:09:41,040 --> 00:09:43,720
Speaker 1: loud and clear. We at the Lincoln Project have endorsed

164
00:09:44,440 --> 00:09:49,040
Speaker 1: UH former Vice President Biden UM for president and all

165
00:09:49,040 --> 00:09:52,240
Speaker 1: the endorsement will remain, will stand no matter community chooses

166
00:09:53,080 --> 00:09:56,880
Speaker 1: for his vpeach. We also, you know, going back from

167
00:09:56,880 --> 00:10:02,280
Speaker 1: presidential history, maybe Sarah pealing, but for her UM VP

168
00:10:03,120 --> 00:10:05,960
Speaker 1: choices don't make a breaking election. And this is about

169
00:10:06,080 --> 00:10:11,679
Speaker 1: Donald Trump. And I do understand that UH Vice President

170
00:10:12,280 --> 00:10:14,640
Speaker 1: Biden is older, but it still comes down to biden

171
00:10:14,960 --> 00:10:17,199
Speaker 1: record of service. So we're gonna say focused on him,

172
00:10:17,200 --> 00:10:22,319
Speaker 1: We're gonna h endorsement. The endorsement will remain regardless. It's

173
00:10:22,320 --> 00:10:24,760
Speaker 1: going to be really interesting and again we will talk

174
00:10:24,800 --> 00:10:29,320
Speaker 1: about all of the upcoming implications of but let's just

175
00:10:29,400 --> 00:10:32,200
Speaker 1: now pivot back to the markets and pivot pivot back

176
00:10:32,240 --> 00:10:35,280
Speaker 1: to economic stimulus talks with our guests still on hold.

177
00:10:35,360 --> 00:10:39,760
Speaker 1: Roger Fist, Democratic strategists, longtime President Obama aid and principle

178
00:10:39,880 --> 00:10:43,160
Speaker 1: of New Day Strategy, as well as Sarah Lentcy, Republican

179
00:10:43,200 --> 00:10:47,120
Speaker 1: strategist and executive director at the Lincoln Project. I'm tapped

180
00:10:47,120 --> 00:10:51,240
Speaker 1: into my Bloomberg terminal now and Claire about excuse me.

181
00:10:51,280 --> 00:10:56,000
Speaker 1: Claire Ballentine's reporting on the markets, NASDAC sets a record

182
00:10:56,520 --> 00:10:59,959
Speaker 1: as tech jumps, the dollar climbs, stocks advanced, with tech

183
00:11:00,080 --> 00:11:04,480
Speaker 1: shares leading the way amid positive economic data, and after

184
00:11:04,520 --> 00:11:07,920
Speaker 1: the White House was said to consider acting on its

185
00:11:07,960 --> 00:11:11,959
Speaker 1: own to boost unemployment benefits. Get this. The NASDAC one

186
00:11:12,080 --> 00:11:15,840
Speaker 1: hundred reached a record as traders sought out companies poised

187
00:11:15,840 --> 00:11:19,480
Speaker 1: to do best in a stay at home economy. Apple

188
00:11:19,559 --> 00:11:23,080
Speaker 1: Incs at an all time high, and Microsoft Corp. Gained

189
00:11:23,120 --> 00:11:25,160
Speaker 1: as it tried to salvage a deal for the US

190
00:11:25,240 --> 00:11:27,600
Speaker 1: operations of TikTok coming up. We're gonna talk to US

191
00:11:27,600 --> 00:11:30,839
Speaker 1: and China. But I find this interesting, Roger, because the

192
00:11:30,840 --> 00:11:35,280
Speaker 1: White House there were some reports that they actually might

193
00:11:36,480 --> 00:11:42,720
Speaker 1: might get involved on the unemployment benefits and act around

194
00:11:43,280 --> 00:11:47,320
Speaker 1: Congress Salamos and Eric Watson and Justin Sinc. Reporting the

195
00:11:47,360 --> 00:11:51,400
Speaker 1: President Trump said earlier today he may take executive action

196
00:11:51,480 --> 00:11:55,000
Speaker 1: to impose a moratorium on evictions. With talks on a

197
00:11:55,040 --> 00:11:58,640
Speaker 1: new virus relief plan making slow progress in Congress, do

198
00:11:58,679 --> 00:12:00,960
Speaker 1: you think this was the President's plan all along to

199
00:12:01,120 --> 00:12:04,920
Speaker 1: to to say, hey, Congress is being so incredibly inept

200
00:12:05,320 --> 00:12:07,360
Speaker 1: both sides of the aisle that I'm gonna have to

201
00:12:07,440 --> 00:12:10,480
Speaker 1: use executive orders while they hammer out a fiscally responsible deal.

202
00:12:11,760 --> 00:12:13,840
Speaker 1: No um. And first of all, it's great to be

203
00:12:13,880 --> 00:12:16,240
Speaker 1: on with Sarah. Meeting the executive of being on a

204
00:12:16,280 --> 00:12:18,599
Speaker 1: program with the executive director of the Lincoln Project is

205
00:12:18,720 --> 00:12:20,599
Speaker 1: like making a petal or something like that for me.

206
00:12:22,280 --> 00:12:24,840
Speaker 1: But I I guice that it has been this planner

207
00:12:24,880 --> 00:12:28,480
Speaker 1: along because I've spent you know, many times I can

208
00:12:28,600 --> 00:12:31,160
Speaker 1: simplify things for good or or bad. But you know,

209
00:12:31,480 --> 00:12:34,719
Speaker 1: good policy makes good politics. Like, it's not that complicated.

210
00:12:35,120 --> 00:12:37,760
Speaker 1: So if he if he had taken this posture all

211
00:12:37,800 --> 00:12:41,760
Speaker 1: along and a been straight and transparent with the American people,

212
00:12:42,240 --> 00:12:46,320
Speaker 1: be laid out of you know, relatively comprehensive but still

213
00:12:46,400 --> 00:12:49,480
Speaker 1: somewhat simplified vision of what a national strategy would be,

214
00:12:49,520 --> 00:12:53,840
Speaker 1: everything from community health centers onto protecting uh, you know,

215
00:12:53,960 --> 00:12:57,240
Speaker 1: dursing homes and everything else. It wouldn't be that difficult

216
00:12:57,280 --> 00:13:00,000
Speaker 1: for something like this to fit into a broader continue

217
00:13:00,040 --> 00:13:02,480
Speaker 1: you him, where people would saying, yeah, he's this fits

218
00:13:02,520 --> 00:13:04,640
Speaker 1: the pattern of what he's been doing he's been stepping

219
00:13:04,679 --> 00:13:07,360
Speaker 1: up and doing the right thing. But unfortunately, I think,

220
00:13:07,400 --> 00:13:10,360
Speaker 1: given that he goes in so many different directions, many

221
00:13:10,360 --> 00:13:13,760
Speaker 1: many times a day, that this is just basically a

222
00:13:13,760 --> 00:13:16,320
Speaker 1: piece of crapnel, right that just goes flying off in

223
00:13:16,320 --> 00:13:20,400
Speaker 1: a random, random direction. And it doesn't necessarily reflect on

224
00:13:21,000 --> 00:13:24,480
Speaker 1: or it work as a product of some kind of

225
00:13:24,520 --> 00:13:27,959
Speaker 1: design and structure. It's more just vasculating and flailing around

226
00:13:28,000 --> 00:13:32,000
Speaker 1: and trying to accommodate that day's in cycle. You know,

227
00:13:32,240 --> 00:13:34,080
Speaker 1: I hear you on that point, and and and just

228
00:13:34,120 --> 00:13:38,120
Speaker 1: to bring everybody up to uh speed. The President's telling

229
00:13:38,160 --> 00:13:41,000
Speaker 1: reporters earlier today, I'm gonna read it quote they are

230
00:13:41,000 --> 00:13:44,920
Speaker 1: not interested in unemployment. They are not interested in evictions,

231
00:13:44,920 --> 00:13:47,680
Speaker 1: which is a big deal. People are going to be evicted.

232
00:13:47,720 --> 00:13:49,960
Speaker 1: But I'm going to stop it because I'll do it

233
00:13:50,080 --> 00:13:53,320
Speaker 1: myself if I have to. Sarah, we've got a minute

234
00:13:53,360 --> 00:13:55,160
Speaker 1: left before I've got to jump to the break. But

235
00:13:55,400 --> 00:13:57,160
Speaker 1: I want to get your reaction to that, to the

236
00:13:57,160 --> 00:14:01,080
Speaker 1: developments of the President saying he might I passed Congress

237
00:14:01,080 --> 00:14:03,880
Speaker 1: to use executive orders in order to get some of

238
00:14:03,880 --> 00:14:08,400
Speaker 1: the evictions and unemployment benefits handled in the short term. Um,

239
00:14:08,760 --> 00:14:12,160
Speaker 1: I don't we don't trust anything the president says, So

240
00:14:14,280 --> 00:14:15,920
Speaker 1: I think that just for means to be seen. Let's

241
00:14:15,920 --> 00:14:18,320
Speaker 1: see what he does. But he makes a lot of

242
00:14:18,480 --> 00:14:22,239
Speaker 1: promises and he's he's a lot of words. So um,

243
00:14:22,920 --> 00:14:25,680
Speaker 1: we'll to see. All right, We're gonna have to leave

244
00:14:25,720 --> 00:14:29,120
Speaker 1: it there. The panel stays Roger Fisk, and I guess

245
00:14:29,240 --> 00:14:32,960
Speaker 1: Roger's version of the Beatles Sarah to be, Hey, hey, Roger,

246
00:14:33,000 --> 00:14:37,800
Speaker 1: what's your favorite Beatles song? Uh? In my life? Because

247
00:14:37,960 --> 00:14:41,480
Speaker 1: the piano solo is the kind of intersection of growing

248
00:14:41,520 --> 00:14:44,960
Speaker 1: up doing classical music and then transitioning into rock and roll.

249
00:14:45,000 --> 00:14:46,680
Speaker 1: So when I heard that when I was about thirteen,

250
00:14:46,720 --> 00:14:49,480
Speaker 1: I was like, that's the intersection of the classical music

251
00:14:49,520 --> 00:14:51,760
Speaker 1: I grew up with and then the rock direction that

252
00:14:51,800 --> 00:14:54,680
Speaker 1: I went in as a musician. Okay, you would think

253
00:14:54,720 --> 00:14:56,880
Speaker 1: that where I was taking this conversation was, let's see

254
00:14:56,880 --> 00:14:59,120
Speaker 1: if Sarah can play for play that song when we

255
00:14:59,120 --> 00:15:01,880
Speaker 1: come back from the john. But what I'm actually gonna

256
00:15:01,880 --> 00:15:04,160
Speaker 1: say is, Charlie Bohmer and what has been a very

257
00:15:04,160 --> 00:15:06,480
Speaker 1: crazy technological day, let's say if we can play the

258
00:15:06,480 --> 00:15:08,480
Speaker 1: Beatles when we come back from one of the breaks

259
00:15:08,760 --> 00:15:11,000
Speaker 1: in the next hour. He's running the boards for US

260
00:15:11,320 --> 00:15:13,160
Speaker 1: in New York. Much more coming up next with the

261
00:15:13,200 --> 00:15:15,760
Speaker 1: Beatles and Roger Fisk. I'm Kevin Sirelli. You're listening to

262
00:15:15,760 --> 00:15:23,880
Speaker 1: Woomberg nine, Burger stepping up like never before. You're looking

263
00:15:23,920 --> 00:15:26,880
Speaker 1: at seventy kennidates for different vaccines. How do we make

264
00:15:26,920 --> 00:15:30,240
Speaker 1: sure a pandemic of this scale never happens again? This

265
00:15:30,720 --> 00:15:38,440
Speaker 1: is Bloomberg. Sound on with Kevin on Bloomberg WORLDHD two.

266
00:15:39,080 --> 00:15:43,960
Speaker 1: Breaking news tonight as we await President Donald Trump's news conference.

267
00:15:44,080 --> 00:15:47,400
Speaker 1: This as he makes fresh reaction to White House reporters

268
00:15:47,960 --> 00:15:51,960
Speaker 1: headlines on the Bloomberg terminal. He might bypass Congress all

269
00:15:52,040 --> 00:15:57,479
Speaker 1: together and use executive orders on evictions, on unemployment benefits.

270
00:15:57,480 --> 00:16:02,240
Speaker 1: Plus NASDAC closing at a record NAZAC rather setting a

271
00:16:02,360 --> 00:16:05,880
Speaker 1: record as tech jumps. This is Microsoft is caught up

272
00:16:05,880 --> 00:16:09,080
Speaker 1: in the U S. China negotiations. We're going to handle

273
00:16:09,120 --> 00:16:12,080
Speaker 1: all of that. Watch. I will bring you President Trump's

274
00:16:12,120 --> 00:16:16,360
Speaker 1: remarks as they happen. We've got a panel of insiders.

275
00:16:16,480 --> 00:16:20,880
Speaker 1: Roger Fisk, democratic strategist, principle at New Day Strategy and

276
00:16:20,880 --> 00:16:24,720
Speaker 1: and executive director of the Lincoln Project. They've been everywhere,

277
00:16:25,200 --> 00:16:27,400
Speaker 1: can't stop seeing their ads in your social feat. She's

278
00:16:27,440 --> 00:16:30,880
Speaker 1: a Republican strategist. She's the executive director at the Lincoln Project,

279
00:16:30,960 --> 00:16:34,400
Speaker 1: Sarah Lenty. So lots to get through, lots lots to

280
00:16:34,440 --> 00:16:37,200
Speaker 1: get through. We're following multiple fronts tonight. This is we

281
00:16:37,280 --> 00:16:39,640
Speaker 1: just got word from the White House that President Trump's

282
00:16:39,880 --> 00:16:42,880
Speaker 1: press conferences now set to begin in the five thirty

283
00:16:43,000 --> 00:16:45,680
Speaker 1: pm Eastern half hour. I will bring you those remarks

284
00:16:45,680 --> 00:16:50,040
Speaker 1: which we are all carefully following, as everybody wants to

285
00:16:50,080 --> 00:16:52,400
Speaker 1: know whether or not there will they will break this

286
00:16:52,520 --> 00:16:57,680
Speaker 1: impass that lawmakers have up on Capitol Hill. So we're

287
00:16:57,720 --> 00:17:01,200
Speaker 1: following two fronts. We've got the economic front and the

288
00:17:01,200 --> 00:17:05,160
Speaker 1: political front. And let's start with the economy and the policy.

289
00:17:05,240 --> 00:17:08,520
Speaker 1: Because earlier this afternoon, President Trump was at the White

290
00:17:08,520 --> 00:17:12,520
Speaker 1: House UH and he said that he might utilize executive

291
00:17:12,720 --> 00:17:18,600
Speaker 1: order executive order executive action in order to address evictions

292
00:17:19,960 --> 00:17:24,760
Speaker 1: and unemployment benefits. This after the top economic diplomats in

293
00:17:24,840 --> 00:17:28,200
Speaker 1: his administration flooded the Sunday shows over the weekend, including

294
00:17:28,200 --> 00:17:31,520
Speaker 1: Treasury Secretary Stephen Manustion as well as his chief of

295
00:17:31,520 --> 00:17:35,400
Speaker 1: staff Mark Meadows. Mind you, former Freedom Caucus member Mark Meadows,

296
00:17:36,080 --> 00:17:39,280
Speaker 1: and saying that they were prepared to have long term

297
00:17:39,280 --> 00:17:46,520
Speaker 1: political battles on the budget negotiations. Speaker Pelosi. Meanwhile, she

298
00:17:46,720 --> 00:17:51,760
Speaker 1: made some comments after a nearly two hour meeting that

299
00:17:51,840 --> 00:17:57,360
Speaker 1: they had made some progress progress with Secretary Manution and Meadows,

300
00:17:58,280 --> 00:18:01,520
Speaker 1: as well as Sentimentarity Leader ar Schumer. It was productive,

301
00:18:01,880 --> 00:18:05,040
Speaker 1: she said earlier this afternoon. We are moving down the track.

302
00:18:05,640 --> 00:18:07,679
Speaker 1: We still have our differences, but that's a it's a

303
00:18:07,680 --> 00:18:10,560
Speaker 1: little better tone. Look, I gotta read the tone. I

304
00:18:10,640 --> 00:18:13,800
Speaker 1: gotta read the tone. That's where we're at. That's where

305
00:18:13,840 --> 00:18:16,399
Speaker 1: we're at. We're reading into people's tones as they're in past.

306
00:18:17,000 --> 00:18:19,920
Speaker 1: And Speaker Pelosi's saying that there it was productive. Meeting

307
00:18:19,920 --> 00:18:22,119
Speaker 1: could be worse. I'm an optimist, right, we all got

308
00:18:22,200 --> 00:18:26,720
Speaker 1: to be optimistic. We all gotta remain have her gratitude. Uh.

309
00:18:26,800 --> 00:18:30,119
Speaker 1: She says that they're productive. Uh, And they're gonna meet again.

310
00:18:30,240 --> 00:18:34,800
Speaker 1: They're gonna meet again sometime tomorrow. So the reason I

311
00:18:34,840 --> 00:18:38,040
Speaker 1: bring this up is because meanwhile stocks advanced, with tech

312
00:18:38,119 --> 00:18:41,480
Speaker 1: shares leading the way, amid positive economic data, and after

313
00:18:41,520 --> 00:18:43,719
Speaker 1: the White House was said to consider acting on its

314
00:18:43,760 --> 00:18:47,920
Speaker 1: own to boost unemployment benefits. Claire Valentine on the Bloomberg terminal.

315
00:18:48,040 --> 00:18:51,360
Speaker 1: NAZZAC A hundred reached a record as traders sought out

316
00:18:51,359 --> 00:18:53,840
Speaker 1: company's poised to do best in stay at home economy.

317
00:18:54,480 --> 00:18:57,040
Speaker 1: And of course Microsoft wrapped up in this because of

318
00:18:57,040 --> 00:18:59,760
Speaker 1: the TikTok deal. I never thought TikTok. By the way, side,

319
00:18:59,760 --> 00:19:02,520
Speaker 1: note the youth sapp would be such a driving force

320
00:19:02,560 --> 00:19:04,800
Speaker 1: at the conversation. Come Monday morning, we'll talk to you

321
00:19:04,800 --> 00:19:07,040
Speaker 1: about trying to coming up. But let's bring in the

322
00:19:07,119 --> 00:19:11,680
Speaker 1: latest on this budget deal and negotiation with Roger Fisk,

323
00:19:11,920 --> 00:19:15,199
Speaker 1: Democratic strategist, longtime President Obama aid and principle a New

324
00:19:15,240 --> 00:19:19,320
Speaker 1: Day strategy. Sarah Lenty, Republican strategist and executive director at

325
00:19:19,359 --> 00:19:22,240
Speaker 1: the Lincoln Project. That's the group that's been really, you know,

326
00:19:22,359 --> 00:19:26,520
Speaker 1: behind the Republicans who really are frustrated with the president

327
00:19:26,960 --> 00:19:28,879
Speaker 1: and they, of course they're looking for another option and

328
00:19:28,920 --> 00:19:32,679
Speaker 1: they backed Joe Biden. Roger for Speaker Pelosi, take us

329
00:19:32,680 --> 00:19:35,000
Speaker 1: behind the scenes for Speaker Pelosi. She's got to be

330
00:19:35,040 --> 00:19:39,080
Speaker 1: careful from a political perspective to negotiate with Republicans while

331
00:19:39,119 --> 00:19:43,440
Speaker 1: also appeasing her base. How does she do it? Well,

332
00:19:43,600 --> 00:19:47,919
Speaker 1: you're correcting that she there's very few things that the

333
00:19:48,000 --> 00:19:50,960
Speaker 1: speaker shares with the Senate Majority leader, but neither of

334
00:19:51,000 --> 00:19:54,480
Speaker 1: them um ever bring anything out for a vote unless

335
00:19:54,520 --> 00:19:56,680
Speaker 1: they know exactly how it's going to go. I mean,

336
00:19:57,240 --> 00:19:59,360
Speaker 1: I think she can play it pretty straight with her

337
00:19:59,359 --> 00:20:01,880
Speaker 1: caucus and pretty straight with the folks in the White House.

338
00:20:01,880 --> 00:20:04,800
Speaker 1: I don't think she's asking for anything really outrageous. I mean,

339
00:20:04,840 --> 00:20:07,439
Speaker 1: the the guests that you had on at the beginning

340
00:20:07,440 --> 00:20:09,400
Speaker 1: of your show is talking about if we don't do

341
00:20:09,480 --> 00:20:14,080
Speaker 1: a two cities and towns, you get into infrastructural issues

342
00:20:14,359 --> 00:20:18,199
Speaker 1: like sanitation and uh, you know, all those things are

343
00:20:18,280 --> 00:20:20,240
Speaker 1: kind of like where we we have this storm coming

344
00:20:20,280 --> 00:20:22,639
Speaker 1: up the coast right now. So combined sewer overflow, I

345
00:20:23,119 --> 00:20:26,240
Speaker 1: remember from working with mayors is a gigantic issue because

346
00:20:26,280 --> 00:20:29,160
Speaker 1: if the sewers aren't functioning, very little else does. So

347
00:20:29,440 --> 00:20:31,639
Speaker 1: I don't think that she has to start and do

348
00:20:31,720 --> 00:20:35,639
Speaker 1: anything all too outrageous or or even getting into anything

349
00:20:35,640 --> 00:20:37,920
Speaker 1: that could be thrown into kind of the cultural uh

350
00:20:38,320 --> 00:20:40,880
Speaker 1: bucket issue wise, or anything. She just needs to do

351
00:20:41,359 --> 00:20:44,520
Speaker 1: nuts in bolds kind of kitchen table stuff about how

352
00:20:44,520 --> 00:20:48,000
Speaker 1: do people live lives with dignity and enough to eat

353
00:20:48,040 --> 00:20:50,199
Speaker 1: in a roof of their head for the next twelve

354
00:20:50,200 --> 00:20:52,720
Speaker 1: weeks while we try to fix some of these bigger problems.

355
00:20:52,920 --> 00:20:55,160
Speaker 1: But see, I I got back to the middle class

356
00:20:55,160 --> 00:20:58,720
Speaker 1: Americans and small and medium sized companies who are are

357
00:20:59,280 --> 00:21:01,960
Speaker 1: the psych bology of the American worker right now. And

358
00:21:01,960 --> 00:21:04,439
Speaker 1: it's something I've brought up. I think every show is

359
00:21:04,480 --> 00:21:07,680
Speaker 1: so incredibly real. You talk to refinery workers, you talk

360
00:21:07,760 --> 00:21:11,520
Speaker 1: to construction workers, were showing up on job sites and people.

361
00:21:11,600 --> 00:21:13,760
Speaker 1: This is you know. And I get the debate and

362
00:21:13,800 --> 00:21:15,159
Speaker 1: the study that came out of I think it was

363
00:21:15,200 --> 00:21:18,320
Speaker 1: the University of Chicago in terms of unemployment benefits and whatnot,

364
00:21:18,359 --> 00:21:20,800
Speaker 1: But this is America. I still believe that most Americans

365
00:21:20,800 --> 00:21:22,639
Speaker 1: want to show up to work, they want to work,

366
00:21:23,080 --> 00:21:25,560
Speaker 1: But the psychology of whether or not they feel safe

367
00:21:25,600 --> 00:21:27,600
Speaker 1: to do so, or to send their kids into a classroom,

368
00:21:27,640 --> 00:21:30,000
Speaker 1: that's so real. That's a real concern. I mean, this

369
00:21:30,080 --> 00:21:32,600
Speaker 1: isn't you know, making it up in Republicans and Democrats

370
00:21:32,640 --> 00:21:35,359
Speaker 1: doesn't really matter if you have an underlying condition or not.

371
00:21:35,600 --> 00:21:38,320
Speaker 1: Sarah Lenty, I don't want to talk to for a second.

372
00:21:38,320 --> 00:21:41,280
Speaker 1: I want to draw and tap into your your experience

373
00:21:41,320 --> 00:21:44,480
Speaker 1: as a policy director on the Bush Cheney two thousand campaign,

374
00:21:44,480 --> 00:21:46,960
Speaker 1: and of course UM as you worked in the Bush

375
00:21:46,960 --> 00:21:51,440
Speaker 1: administration at the National Security Council UH for former now

376
00:21:51,480 --> 00:21:54,800
Speaker 1: former National Security Advisor Conda Lisa Rice Send. A majority

377
00:21:54,880 --> 00:21:57,160
Speaker 1: Leader Mitch McConnell has a deal that has a has

378
00:21:57,240 --> 00:21:59,719
Speaker 1: a job to do. So if you're Leader McConnell, if

379
00:21:59,720 --> 00:22:02,320
Speaker 1: you're the leadership's office, if you're in Senator Romney's office,

380
00:22:02,320 --> 00:22:04,359
Speaker 1: I know you've got ties to Romney as well. How

381
00:22:04,359 --> 00:22:07,680
Speaker 1: do you find the transpart is an angle right now

382
00:22:07,720 --> 00:22:11,600
Speaker 1: and an incredibly polarized time to deliver some economic relief

383
00:22:11,840 --> 00:22:15,639
Speaker 1: to Americans who desperately need it. Well, just what you said,

384
00:22:15,680 --> 00:22:19,320
Speaker 1: it is a global pandemic, and it's a global pandemic,

385
00:22:19,359 --> 00:22:22,119
Speaker 1: and we're looking at from what I understand, the CDC

386
00:22:22,400 --> 00:22:25,600
Speaker 1: is projecting a thousand US depths every day for the

387
00:22:25,600 --> 00:22:28,159
Speaker 1: next thirty days. This is this is going to have

388
00:22:28,280 --> 00:22:31,000
Speaker 1: huge economics repercussions. And we're already seeing the millions and

389
00:22:31,040 --> 00:22:33,679
Speaker 1: millions of people out of work. This is this is

390
00:22:33,720 --> 00:22:35,919
Speaker 1: not a time to play politics. There are lines on

391
00:22:35,960 --> 00:22:38,840
Speaker 1: the line here, there are livelihoods on the line. If

392
00:22:38,840 --> 00:22:41,400
Speaker 1: you can't find a transpartisan message in that, I don't

393
00:22:41,400 --> 00:22:45,399
Speaker 1: know when, I don't know how well to say, you know,

394
00:22:45,480 --> 00:22:47,680
Speaker 1: this is this is his job, this is he needs

395
00:22:47,720 --> 00:22:50,920
Speaker 1: to do this. So I would agree with that, you know, um,

396
00:22:51,080 --> 00:22:54,520
Speaker 1: but I'd love to interview Senator Romney there, I say, hey,

397
00:22:54,680 --> 00:22:58,840
Speaker 1: his office to talk to them about trying to go ahead. Roger, Well,

398
00:23:00,000 --> 00:23:02,560
Speaker 1: it's the two names that aren't part of these discussions.

399
00:23:02,600 --> 00:23:06,040
Speaker 1: Right on. McConnell and Pence, as the vice president and

400
00:23:06,080 --> 00:23:09,480
Speaker 1: the sentiment orgy leader have repeatedly been undermined and undercut,

401
00:23:09,600 --> 00:23:13,560
Speaker 1: sometimes at least the Vice President Pence's um case while

402
00:23:13,560 --> 00:23:16,919
Speaker 1: he's on Capitol Hill having discussions similar to link when

403
00:23:17,000 --> 00:23:20,240
Speaker 1: Killison would land in South Korea and he was boot

404
00:23:20,320 --> 00:23:21,720
Speaker 1: up his phone and see that he had already been

405
00:23:21,800 --> 00:23:24,800
Speaker 1: undercut by the president. Those two folks, I think are

406
00:23:24,880 --> 00:23:26,800
Speaker 1: keeping all of this at arm's length. It would be

407
00:23:26,880 --> 00:23:29,680
Speaker 1: very natural obviously for McConnell to be playing a leadership ball,

408
00:23:30,080 --> 00:23:33,320
Speaker 1: but you know, the White House, specifically, the President just

409
00:23:33,440 --> 00:23:36,800
Speaker 1: goes in so many different directions in a minute per minute,

410
00:23:37,359 --> 00:23:39,720
Speaker 1: um that none of them are gonna step up and

411
00:23:39,720 --> 00:23:42,560
Speaker 1: put their shoulder behind anything until the White House gets

412
00:23:42,600 --> 00:23:45,040
Speaker 1: backed into some kind of corner and Minuchon and Meadows

413
00:23:45,040 --> 00:23:47,520
Speaker 1: have made enough of an agreement so that the broader

414
00:23:47,600 --> 00:23:50,880
Speaker 1: contours of something come together, because then at least McConnell

415
00:23:50,960 --> 00:23:53,240
Speaker 1: and he starts whipping his caucus, and Pence goes up

416
00:23:53,280 --> 00:23:55,560
Speaker 1: and starts having meetings. Hey, Roger, do you hear the

417
00:23:55,640 --> 00:24:02,200
Speaker 1: music game? Do you hear the music? This is for you, Roger.

418
00:24:02,760 --> 00:24:04,520
Speaker 1: We gotta go to the jump and then Sarah, but

419
00:24:04,680 --> 00:24:07,680
Speaker 1: we can, we can keep talking after. This is the Beatles.

420
00:24:07,720 --> 00:24:10,320
Speaker 1: This is Roger's favorite Beatles song. Everybody in my life.

421
00:24:10,359 --> 00:24:13,720
Speaker 1: I'm Kevin Cereli, chief Washington correspondent from Bloomberg TV and Radio.

422
00:24:13,760 --> 00:24:15,840
Speaker 1: Thank you to my friend Charlie Valmer for getting that

423
00:24:15,880 --> 00:24:22,000
Speaker 1: song for me. It's a good one. You're listening to Bloomberg.

424
00:24:26,359 --> 00:24:30,919
Speaker 1: This is Bloomberg Sound On with Kevin Shirley on Bloomberg

425
00:24:32,080 --> 00:24:34,480
Speaker 1: and one oh five point seven f m h D two.

426
00:24:35,119 --> 00:24:38,919
Speaker 1: I'm Kevin Cereli, chief Washington correspondent for Bloomberg Television and

427
00:24:39,000 --> 00:24:41,920
Speaker 1: for Bloomberg Radio. We're awaiting President Trump. You set to

428
00:24:42,320 --> 00:24:46,080
Speaker 1: uh set to speak in the at five thirty for

429
00:24:46,080 --> 00:24:49,080
Speaker 1: the press conference. I'll bring you that. But I want

430
00:24:49,080 --> 00:24:51,879
Speaker 1: to talk. I want to talk foreign policy. You know,

431
00:24:52,000 --> 00:24:54,320
Speaker 1: that's really all I care about to be candid with you.

432
00:24:54,359 --> 00:24:58,600
Speaker 1: It's my top favorite thing these days. UM, I shouldn't

433
00:24:58,600 --> 00:25:00,760
Speaker 1: say that's all. That's not true. That's a lie. That's

434
00:25:00,760 --> 00:25:04,159
Speaker 1: a lie. But I I want to talk foreign policy

435
00:25:04,160 --> 00:25:05,960
Speaker 1: and I want to talk TikTok because I was talking

436
00:25:05,960 --> 00:25:09,160
Speaker 1: about it with UM, some of my favorites at Bloomberg

437
00:25:09,160 --> 00:25:12,960
Speaker 1: Television and Radio, the Bloomberg Surveillance team earlier this morning.

438
00:25:13,000 --> 00:25:15,439
Speaker 1: And I think it really does bear repeating. And you're

439
00:25:15,440 --> 00:25:20,159
Speaker 1: seeing it in the market reaction with Microsoft, because, uh,

440
00:25:20,320 --> 00:25:23,760
Speaker 1: Microsoft gained as it tried to salvage a deal for

441
00:25:23,840 --> 00:25:26,439
Speaker 1: the US operations at TikTok. And and if you go

442
00:25:26,480 --> 00:25:30,560
Speaker 1: into the Bloomberg terminal, Shelley Banjo and Dina Bass are reporting,

443
00:25:30,600 --> 00:25:32,840
Speaker 1: and it bids a salvage a deal for the US

444
00:25:32,920 --> 00:25:37,400
Speaker 1: operations of TikTok. Microsoft chief executive the Microsoft CEO sat

445
00:25:37,400 --> 00:25:40,480
Speaker 1: in Adela spoke with President Donald Trump by phone about

446
00:25:40,480 --> 00:25:44,040
Speaker 1: how to secure the administration's blessing to buy the wildly

447
00:25:44,119 --> 00:25:48,760
Speaker 1: popular but besieged music video app. Now you and I, folks,

448
00:25:48,840 --> 00:25:50,600
Speaker 1: we can talk about whether or not it really is

449
00:25:50,640 --> 00:25:52,439
Speaker 1: a music video app. Because when I go to the

450
00:25:52,440 --> 00:25:55,800
Speaker 1: airport pre Covid and I see these tweeny tweens and

451
00:25:56,119 --> 00:25:59,879
Speaker 1: youths do these dances and their selfies and there I

452
00:26:00,000 --> 00:26:02,800
Speaker 1: don't even know. I think they're doing the mac arena.

453
00:26:02,840 --> 00:26:04,520
Speaker 1: But then I I don't even know. I mean, I

454
00:26:04,600 --> 00:26:07,080
Speaker 1: must be getting old folks, because I truly don't understand

455
00:26:07,119 --> 00:26:09,760
Speaker 1: what TikTok is, what it does, what it doesn't do.

456
00:26:09,920 --> 00:26:13,239
Speaker 1: But either way, the national security implications of it are

457
00:26:13,240 --> 00:26:16,879
Speaker 1: incredibly important. That China's Byte Dance is lumped into this.

458
00:26:16,960 --> 00:26:19,359
Speaker 1: They pushed this app, It's surged at the top of

459
00:26:19,400 --> 00:26:22,639
Speaker 1: the app charts, and so many millions of Americans and

460
00:26:22,960 --> 00:26:28,640
Speaker 1: kids under eighteen ers downloaded it, and it sets this precedent.

461
00:26:28,640 --> 00:26:31,200
Speaker 1: If China is able to to inject into the popular

462
00:26:31,200 --> 00:26:33,439
Speaker 1: culture an app that surges to the top of the charts,

463
00:26:33,800 --> 00:26:35,840
Speaker 1: what else can they do with apps? What other data

464
00:26:35,840 --> 00:26:38,520
Speaker 1: are they are they are they utilizing? My colleague, my

465
00:26:38,520 --> 00:26:41,320
Speaker 1: friend Ben Brody and Bloomberg technology reporter, told us last

466
00:26:41,359 --> 00:26:44,080
Speaker 1: week about some of the national security concerns of the

467
00:26:44,160 --> 00:26:47,440
Speaker 1: data storage that is happening on these types of apps,

468
00:26:47,920 --> 00:26:51,800
Speaker 1: and maybe not necessarily on TikTok, but that China could

469
00:26:51,800 --> 00:26:56,560
Speaker 1: potentially utilize. Uh. And you know, I said that based

470
00:26:56,640 --> 00:26:58,399
Speaker 1: upon the reporting that I know and the sources that

471
00:26:58,440 --> 00:27:01,520
Speaker 1: I talked with that really this is one of those

472
00:27:01,720 --> 00:27:04,760
Speaker 1: rare areas where there is common out grounds with Republicans

473
00:27:04,960 --> 00:27:08,320
Speaker 1: and Democrats up on Capitol Hill, most of them anyway,

474
00:27:08,359 --> 00:27:11,080
Speaker 1: on the Intel committees and whatnot. And that's where I

475
00:27:11,119 --> 00:27:13,400
Speaker 1: want to take this conversation with Roger Fist, Democratic trad

476
00:27:13,520 --> 00:27:16,280
Speaker 1: just longtime President Obama aid and principle, a New Day strategy,

477
00:27:16,280 --> 00:27:19,360
Speaker 1: and Sarah Lenty, who's a Republican strategy. She's the executive

478
00:27:19,359 --> 00:27:22,080
Speaker 1: director at the Lincoln Project. And she previously has worked

479
00:27:22,240 --> 00:27:25,359
Speaker 1: for former National security advisor consolisa Right. And she was

480
00:27:25,440 --> 00:27:28,960
Speaker 1: also served as the advisor to former Massachusetts Governor Mitt

481
00:27:29,040 --> 00:27:32,040
Speaker 1: Romney and the lead researcher on his book No Apology,

482
00:27:32,320 --> 00:27:36,120
Speaker 1: The Case for the American Greatness. Hey, Sarah, I actually

483
00:27:36,160 --> 00:27:38,720
Speaker 1: loved Romney's Netflix documentary. But I want to talk to

484
00:27:38,800 --> 00:27:43,959
Speaker 1: you about TikTok Um, which is is this the type

485
00:27:44,000 --> 00:27:49,760
Speaker 1: of policy tool that president that anyone who's any occupant

486
00:27:49,800 --> 00:27:52,160
Speaker 1: of the White House could start to utilize in terms

487
00:27:52,240 --> 00:27:56,840
Speaker 1: of a public private partnership domestically to make sure that

488
00:27:56,960 --> 00:28:01,800
Speaker 1: any China backed businesses don't necessarily just have free entryway

489
00:28:01,880 --> 00:28:05,840
Speaker 1: into Americans phones. Well, he has the ability to do

490
00:28:05,840 --> 00:28:08,280
Speaker 1: this under stifty is. But I think the timing is

491
00:28:08,320 --> 00:28:12,600
Speaker 1: really interesting. And look, I'm not I'm not a text wizard,

492
00:28:12,680 --> 00:28:15,760
Speaker 1: and I'm not this is not my policy area of

493
00:28:15,840 --> 00:28:19,680
Speaker 1: focus that UM working on. But uh, I mean, I

494
00:28:19,760 --> 00:28:22,439
Speaker 1: think it's very interesting timing. And I think you know,

495
00:28:23,000 --> 00:28:25,320
Speaker 1: we all know what happened in with Facebook, and I

496
00:28:25,320 --> 00:28:28,040
Speaker 1: think this is me just if I'm putting on a

497
00:28:28,080 --> 00:28:31,120
Speaker 1: political hat. This is a way to show that he

498
00:28:31,400 --> 00:28:35,680
Speaker 1: is UM has oversight, is looking out for Americans and

499
00:28:35,720 --> 00:28:39,280
Speaker 1: he's concerned about, you know, trying to getting their data.

500
00:28:39,320 --> 00:28:41,520
Speaker 1: I think the timing is very interesting. And it is

501
00:28:41,560 --> 00:28:43,640
Speaker 1: because last week when I had Tony blinkin on he's

502
00:28:43,680 --> 00:28:47,200
Speaker 1: the former deputy UH Secretary of State in the Obama administration,

503
00:28:47,320 --> 00:28:50,560
Speaker 1: Roger Fisk. I mean, he was saying, essentially the policy

504
00:28:50,840 --> 00:28:54,680
Speaker 1: argument for Biden, it's a contrast with Trump, is that

505
00:28:54,960 --> 00:28:59,160
Speaker 1: by restoring some of the Western alliance, by restoring international coalitions,

506
00:28:59,200 --> 00:29:02,720
Speaker 1: it will make get easier too for the United States

507
00:29:03,120 --> 00:29:10,080
Speaker 1: to deal with Beijing. However, Trump is is saying the unpredictability,

508
00:29:10,120 --> 00:29:13,080
Speaker 1: he would argue is that the that the alliances haven't

509
00:29:13,080 --> 00:29:15,840
Speaker 1: worked in the long term, uh, and whatnot. But Roger Fisk,

510
00:29:15,880 --> 00:29:19,320
Speaker 1: I mean when you when you talked to two Democrats

511
00:29:19,360 --> 00:29:24,320
Speaker 1: and and whatnot, are they this is a non partisan area,

512
00:29:24,560 --> 00:29:27,800
Speaker 1: not necessarily a TikTok for example. But this broader issue

513
00:29:27,800 --> 00:29:32,320
Speaker 1: at China penetrating Silicon Valley is is really a bipart

514
00:29:32,360 --> 00:29:35,520
Speaker 1: is an issue. Yeah, I I agree, And I think

515
00:29:35,520 --> 00:29:37,520
Speaker 1: when you say a broader issue, that's the key, right

516
00:29:37,600 --> 00:29:41,520
Speaker 1: Like TikTok is just the the shiny object um right

517
00:29:41,560 --> 00:29:44,080
Speaker 1: now that people kind of fixate on. And by the way,

518
00:29:44,080 --> 00:29:52,240
Speaker 1: your conversation TikTok is one for the ages, But any

519
00:29:52,280 --> 00:29:54,320
Speaker 1: of the concerns that you've just walked through in the

520
00:29:54,360 --> 00:29:57,520
Speaker 1: last three or four minutes are equally applicable to a

521
00:29:57,560 --> 00:30:00,240
Speaker 1: whole number of other ways that we live our online US.

522
00:30:00,280 --> 00:30:02,880
Speaker 1: I mean, if people are concerned about you know, some

523
00:30:02,880 --> 00:30:06,200
Speaker 1: some large entity somewhere hoovering up their data and connecting

524
00:30:06,240 --> 00:30:08,480
Speaker 1: the dots and looking at the patterns and habits and

525
00:30:08,560 --> 00:30:13,400
Speaker 1: trends of how we consumer information, make consumer choices, where

526
00:30:13,400 --> 00:30:15,520
Speaker 1: we spend our money, how much money, how much time

527
00:30:15,560 --> 00:30:19,520
Speaker 1: we spend on sites, etcetera, that those those concerns did

528
00:30:19,520 --> 00:30:22,520
Speaker 1: not go away with whatever the fate of of of

529
00:30:22,560 --> 00:30:26,280
Speaker 1: TikTok is um. And then I also think that it's

530
00:30:26,320 --> 00:30:29,080
Speaker 1: it's that's the reason why that the president is grabbing

531
00:30:29,080 --> 00:30:32,560
Speaker 1: at it right. The The interesting thing is is that

532
00:30:32,600 --> 00:30:34,920
Speaker 1: this is the reverse of what China does to us.

533
00:30:35,200 --> 00:30:38,240
Speaker 1: If you're if you're an American company, um, you have

534
00:30:38,440 --> 00:30:41,040
Speaker 1: to have some kind of Chinese company as part of

535
00:30:41,080 --> 00:30:44,040
Speaker 1: your footprint, if you're if you want to do business

536
00:30:44,080 --> 00:30:46,800
Speaker 1: in China. So in a sense, it's it's not without

537
00:30:46,920 --> 00:30:49,640
Speaker 1: context that he would say something like this. But back

538
00:30:49,680 --> 00:30:52,400
Speaker 1: to my earlier point, because I of course agree with

539
00:30:52,440 --> 00:30:55,800
Speaker 1: it and Sarah's earlier point. You know whether or not

540
00:30:55,840 --> 00:30:57,800
Speaker 1: the president is going to be consistent and actually it's

541
00:30:57,800 --> 00:31:00,600
Speaker 1: follow through on this tomorrow and next week, next month

542
00:31:01,120 --> 00:31:03,800
Speaker 1: is really the issue because if history has only guide,

543
00:31:04,120 --> 00:31:06,000
Speaker 1: he tends to just kind of fly around in a

544
00:31:06,040 --> 00:31:08,480
Speaker 1: bunch of different directions without a lot of follow up,

545
00:31:08,520 --> 00:31:11,680
Speaker 1: without some broader strategic framework. And Sarah, we got a

546
00:31:11,720 --> 00:31:13,880
Speaker 1: minute left. But I do I mean if for for

547
00:31:13,880 --> 00:31:18,560
Speaker 1: for from a political uh, from a political point of position,

548
00:31:18,760 --> 00:31:21,720
Speaker 1: rather put it back on your political cap. For Joe Biden,

549
00:31:21,840 --> 00:31:25,760
Speaker 1: I mean he's got it reached the same type of

550
00:31:25,800 --> 00:31:30,640
Speaker 1: Republicans like yourself and say that he would restore alliances. Right.

551
00:31:30,680 --> 00:31:32,720
Speaker 1: I mean that's the whole argument that Biden is going

552
00:31:32,760 --> 00:31:36,600
Speaker 1: to make. He will and you know, Biden has a

553
00:31:36,680 --> 00:31:40,200
Speaker 1: record with world leaders from NATO to you know, Asia,

554
00:31:40,680 --> 00:31:43,200
Speaker 1: and he will do that. He has those relationships and

555
00:31:43,240 --> 00:31:45,360
Speaker 1: he will restore those alliances, and he'll campaign on that.

556
00:31:45,440 --> 00:31:47,440
Speaker 1: I think we'll hear a lot about NATO in the

557
00:31:47,520 --> 00:31:50,600
Speaker 1: upcoming um. On the upcoming debate, I also think we

558
00:31:50,680 --> 00:31:54,280
Speaker 1: you're just talking about Biden. Just take to foreign policy again.

559
00:31:54,400 --> 00:31:56,239
Speaker 1: I just go back to we're in a pandemic and

560
00:31:56,240 --> 00:31:59,479
Speaker 1: we're we're struggling with kids going back to school and

561
00:31:59,600 --> 00:32:02,080
Speaker 1: people using their jobs. And you look back on by

562
00:32:02,160 --> 00:32:04,280
Speaker 1: his record. He lost his wife, he was a single

563
00:32:04,360 --> 00:32:07,160
Speaker 1: dad for five years. He wrote the train every day

564
00:32:07,160 --> 00:32:10,480
Speaker 1: to the Senate. Like his ability to and and shart

565
00:32:10,560 --> 00:32:13,480
Speaker 1: empathy into this campaign, That's something that I just him

566
00:32:13,560 --> 00:32:16,240
Speaker 1: waiting to see and look forward in the Hungry Dances

567
00:32:16,920 --> 00:32:20,000
Speaker 1: Peter More. Next, I'm Kevin Sile. You're listening to Bloomberg

568
00:32:20,080 --> 00:32:24,200
Speaker 1: nine and I one. This is Bloomberg's sound on with

569
00:32:24,280 --> 00:32:28,440
Speaker 1: Kevin Surreley on Bloomberg one and one. All five points

570
00:32:28,480 --> 00:32:34,360
Speaker 1: seven MHD two. My name is Kevin Surreally, And just

571
00:32:34,480 --> 00:32:40,000
Speaker 1: to put an endpoint on that conversation on TikTok and

572
00:32:40,120 --> 00:32:43,000
Speaker 1: Microsoft and Bye Dance, Microsoft says it's going to finish

573
00:32:43,000 --> 00:32:48,719
Speaker 1: their talks with Bye Dance no later then September. I'm

574
00:32:48,800 --> 00:32:52,000
Speaker 1: Kevin si Really, Chief Washington correspondent for Bloomberg TV and

575
00:32:52,240 --> 00:32:56,320
Speaker 1: for Bloomberg Radio. All right, let's talk. We're awaiting President Trump,

576
00:32:56,360 --> 00:32:59,400
Speaker 1: who sets to have a news conference on the economic

577
00:32:59,440 --> 00:33:02,200
Speaker 1: dealer lack thereof. They're at an impass. They're still at

578
00:33:02,200 --> 00:33:06,120
Speaker 1: an impasse. Uh, but he's gonna talk at the White

579
00:33:06,120 --> 00:33:08,760
Speaker 1: House this half hour. I will bring you those remarks.

580
00:33:08,880 --> 00:33:11,959
Speaker 1: Eric Watson's on standby for US Bloomberg congressional reporter, one

581
00:33:11,960 --> 00:33:16,680
Speaker 1: of the hardest working congressional reporters that I know. Genius.

582
00:33:16,680 --> 00:33:21,200
Speaker 1: He's truly like a a wonky wizardy genius. I don't

583
00:33:21,240 --> 00:33:24,440
Speaker 1: even know if those are if those are words, um,

584
00:33:24,480 --> 00:33:26,920
Speaker 1: but he's gonna be on standby force to navigate through that.

585
00:33:27,800 --> 00:33:31,920
Speaker 1: And I want to bring in our panel, our panel

586
00:33:32,120 --> 00:33:37,360
Speaker 1: of the Hopefully, hopefully she will become a regular. Sarah Lenzie,

587
00:33:37,440 --> 00:33:41,320
Speaker 1: Republican strategist and executive director at the Lincoln Project. Uh.

588
00:33:41,560 --> 00:33:46,360
Speaker 1: Roger Fisk is a Democratic strategist longtime President Obama principle

589
00:33:46,520 --> 00:33:52,240
Speaker 1: of days No Roger, I I appreciate you. I also

590
00:33:52,320 --> 00:33:54,840
Speaker 1: appreciate the FaceTime calls that I get from Roger, like

591
00:33:54,920 --> 00:33:57,880
Speaker 1: periodically throughout this pendum, because like, how are you doing, buddy?

592
00:33:57,920 --> 00:34:03,840
Speaker 1: Everybody he's got he's got his instruments that Uh, yeah, Roger,

593
00:34:03,880 --> 00:34:05,440
Speaker 1: what have you been doing to kill time? What are

594
00:34:05,440 --> 00:34:09,799
Speaker 1: you reading? Roger Fisk? So I'm just towards the end

595
00:34:10,080 --> 00:34:12,800
Speaker 1: of I said, there's a show I saw him on,

596
00:34:12,880 --> 00:34:16,960
Speaker 1: but let me wallas. It's called Christ and Crisis, and

597
00:34:17,239 --> 00:34:22,160
Speaker 1: it's about the need for believers to try to kind

598
00:34:22,160 --> 00:34:27,120
Speaker 1: of the politicized religion without removing themselves from the town square.

599
00:34:27,480 --> 00:34:31,600
Speaker 1: Um is probably the easiest way to, uh, to describe it.

600
00:34:31,680 --> 00:34:34,279
Speaker 1: And it's very very interesting. The intersession of religion and

601
00:34:34,320 --> 00:34:37,320
Speaker 1: politics to me is kind of like almost a hobby.

602
00:34:37,360 --> 00:34:39,520
Speaker 1: If you will have read a lot about kind of

603
00:34:39,760 --> 00:34:42,560
Speaker 1: the funding fathers and yeah, and this is something I

604
00:34:42,600 --> 00:34:45,600
Speaker 1: don't really Yeah that that text me the name of

605
00:34:45,600 --> 00:34:47,520
Speaker 1: that book, because that's that's really interesting. We just got

606
00:34:47,520 --> 00:34:49,560
Speaker 1: the two minute warning for President Trump. So if I

607
00:34:49,600 --> 00:34:52,000
Speaker 1: cut you off, it's because of that. But let's I mean,

608
00:34:52,520 --> 00:34:54,480
Speaker 1: this is something I never talked about, but as you know,

609
00:34:54,560 --> 00:34:58,480
Speaker 1: I'm I have a very deep faith and it's not

610
00:34:58,560 --> 00:35:01,560
Speaker 1: political at all. It's more of a compass for me. UM.

611
00:35:01,600 --> 00:35:04,319
Speaker 1: I want to talk about the virus though, because there

612
00:35:04,320 --> 00:35:07,360
Speaker 1: were some new developments as we await for President Trump

613
00:35:08,000 --> 00:35:12,920
Speaker 1: UH from uh DR Fauci, which is that children's ages

614
00:35:12,960 --> 00:35:18,240
Speaker 1: ten to nineteen can spread COVID UH UH can spread

615
00:35:18,280 --> 00:35:22,920
Speaker 1: COVID nineteen as easily as adults. And they're actually talking

616
00:35:22,960 --> 00:35:27,479
Speaker 1: more and more about wearing eye covers UH and face

617
00:35:27,520 --> 00:35:27,880
Speaker 1: shield