1 00:00:01,680 --> 00:00:06,240 Speaker 1: Now from our nation's capital. This is Bloomberg Sound On. 2 00:00:07,120 --> 00:00:10,040 Speaker 1: We are in a moment of massively high debt levels 3 00:00:10,039 --> 00:00:15,160 Speaker 1: and massively high inflation. Inflationary pressures weren't caused by economic policy, 4 00:00:15,280 --> 00:00:16,799 Speaker 1: so a lot of them are budge by a pandemic. 5 00:00:17,000 --> 00:00:20,360 Speaker 1: We can't look back to that either. Bloomberg Sound On, Politics, 6 00:00:20,440 --> 00:00:24,200 Speaker 1: Policy and Perspective from DC's top name. There is so 7 00:00:24,320 --> 00:00:27,840 Speaker 1: much speculation right now about the Department of Justice, and 8 00:00:27,880 --> 00:00:31,120 Speaker 1: it's under a haze of questions. Burden is on Congress 9 00:00:31,160 --> 00:00:35,960 Speaker 1: to come up with an immigration plan that's comprehensive. Bloomberg 10 00:00:36,120 --> 00:00:41,440 Speaker 1: Sound On with Joe Matthew on Bloomberg Radio. There are 11 00:00:41,600 --> 00:00:44,239 Speaker 1: behind the scenes talks on the debt limit, or at 12 00:00:44,320 --> 00:00:47,320 Speaker 1: least that's what the Republican House Budget Chairman told us yesterday, 13 00:00:47,360 --> 00:00:49,880 Speaker 1: And a few minutes we'll talk to his Democratic counterpart, 14 00:00:50,159 --> 00:00:53,280 Speaker 1: Brendan Boyle from Pennsylvania about whether they're making any progress. 15 00:00:53,520 --> 00:00:56,800 Speaker 1: Chicago Mayor Laurie Lightfoot lost her reelection bid. We're gonna 16 00:00:56,800 --> 00:00:59,080 Speaker 1: get a call from Shuthi Singh from our Chicago bureau 17 00:00:59,120 --> 00:01:01,000 Speaker 1: to walk us through the take ways, and of course, 18 00:01:01,000 --> 00:01:04,000 Speaker 1: Bloomberg Politics contributors Jeanie She and Zano and Rick Davis 19 00:01:04,000 --> 00:01:07,399 Speaker 1: are here to discuss the first bill introduced by George Santos, 20 00:01:07,440 --> 00:01:10,559 Speaker 1: which is surprisingly a normal bill. I'm Jack Fitzpatrick filling 21 00:01:10,600 --> 00:01:13,840 Speaker 1: in today for Joe Matthew. We're joined now by Congressman 22 00:01:14,000 --> 00:01:17,760 Speaker 1: Brendan Boyle, Democrat from Pennsylvania's the top Democrat on the 23 00:01:17,760 --> 00:01:21,959 Speaker 1: House Budget Committee. Unfortunately, we just spoke to his counterpart yesterday, 24 00:01:22,080 --> 00:01:25,160 Speaker 1: Jody Arrington, the chairman. Congressman. Very happy to have you on, 25 00:01:25,200 --> 00:01:30,640 Speaker 1: Congressman Boyle. I asked Chairman Arrington yesterday if anything was 26 00:01:30,680 --> 00:01:33,080 Speaker 1: really happening on the debt limit, because it's been kind 27 00:01:33,080 --> 00:01:36,400 Speaker 1: of quiet between President Biden and Speaker McCarthy lately. Here's 28 00:01:36,400 --> 00:01:39,040 Speaker 1: what he had to say. A lot more is happening 29 00:01:39,080 --> 00:01:44,560 Speaker 1: than meets the public eye. We're having conversations with Democratic colleagues, 30 00:01:44,760 --> 00:01:49,320 Speaker 1: and I'm sure that Speaker McCarthy's having even his own 31 00:01:49,400 --> 00:01:54,080 Speaker 1: separate conversation. We have been very clear we have to 32 00:01:54,160 --> 00:01:58,800 Speaker 1: have fiscal reforms and some common sense spinning controls if 33 00:01:58,840 --> 00:02:04,040 Speaker 1: we're going to and the line of credit to any 34 00:02:04,080 --> 00:02:10,680 Speaker 1: Washington politician. As examples, Congressman Arrington mentioned discretionary spending caps, 35 00:02:11,080 --> 00:02:15,720 Speaker 1: stricter work requirements for programs like snap food stamps and 36 00:02:16,000 --> 00:02:20,640 Speaker 1: rescinding unspent COVID money. Now, Congressman Brendan Boyle, the top 37 00:02:20,720 --> 00:02:22,960 Speaker 1: Democrat on the Budget Committee, I've got to ask you, 38 00:02:23,280 --> 00:02:26,680 Speaker 1: is there really progress happening on debt limit talks behind 39 00:02:26,680 --> 00:02:29,920 Speaker 1: the scenes which I acted to be with you, and 40 00:02:30,440 --> 00:02:35,320 Speaker 1: I would not label it as as progress, at least 41 00:02:35,320 --> 00:02:37,480 Speaker 1: as far as I see. It is true that we're 42 00:02:37,480 --> 00:02:39,240 Speaker 1: talking to one another. Look, I mean, I have a 43 00:02:39,280 --> 00:02:44,240 Speaker 1: good cordial relationship with Chairman Arrington, and indeed I consider 44 00:02:44,320 --> 00:02:49,280 Speaker 1: Jody a friend, So there's certainly nothing you know, there's 45 00:02:49,280 --> 00:02:54,920 Speaker 1: certainly nothing personal between us. He's a principled, very conservative 46 00:02:54,919 --> 00:02:58,359 Speaker 1: member who truly believes that our national debt is too 47 00:02:58,440 --> 00:03:01,080 Speaker 1: high and that this is an urgent problem that we 48 00:03:01,120 --> 00:03:04,000 Speaker 1: need to tackle. My position is, and it happens to 49 00:03:04,000 --> 00:03:07,320 Speaker 1: the same as President Bidens, is that we need to 50 00:03:07,360 --> 00:03:10,720 Speaker 1: pay the bills that we've already accrued. This is not 51 00:03:10,840 --> 00:03:15,160 Speaker 1: a conversation about future spending. This is a conversation about 52 00:03:15,200 --> 00:03:19,400 Speaker 1: spending that we already voted on. Indeed, spending bills, by 53 00:03:19,440 --> 00:03:22,000 Speaker 1: the way, most of the other side of the aisle 54 00:03:22,160 --> 00:03:26,679 Speaker 1: already voted on. So look, I voted repeatedly to raise 55 00:03:26,760 --> 00:03:30,359 Speaker 1: the debt's feeling as a Democrat in the minority. When 56 00:03:30,400 --> 00:03:32,960 Speaker 1: there was a Republican president in the White House and 57 00:03:33,040 --> 00:03:36,720 Speaker 1: when Republicans were in control of the Congress, it wasn't 58 00:03:36,720 --> 00:03:39,960 Speaker 1: a controversial issue then. But now that there's a Democrat 59 00:03:39,960 --> 00:03:42,280 Speaker 1: in the White House, suddenly there are those Republicans who 60 00:03:42,280 --> 00:03:45,400 Speaker 1: are playing politics with this issue. This should be beyond 61 00:03:45,480 --> 00:03:48,080 Speaker 1: the pale. We need to raise the debt feeling period. 62 00:03:48,680 --> 00:03:53,440 Speaker 1: So if there is not behind the scenes progress necessarily, 63 00:03:54,120 --> 00:03:57,200 Speaker 1: what happens next? What shakes something loose? Does it have 64 00:03:57,320 --> 00:04:01,200 Speaker 1: to be a bigger meeting between Biden and McCarthy or 65 00:04:01,320 --> 00:04:04,400 Speaker 1: is everybody gonna sit on their hands for a little while. Look, 66 00:04:04,720 --> 00:04:07,120 Speaker 1: the way to raise the debt ceiling is to put 67 00:04:07,120 --> 00:04:09,840 Speaker 1: the bill on the floor and to have the vote 68 00:04:09,880 --> 00:04:12,840 Speaker 1: to raise the debt ceiling. I'm confident that we will 69 00:04:12,880 --> 00:04:15,480 Speaker 1: have the votes if and when that bill has put 70 00:04:15,520 --> 00:04:19,479 Speaker 1: on the floor. Now, the challenge is that Kevin McCarthy, finally, 71 00:04:19,640 --> 00:04:24,760 Speaker 1: after five days of voting in fifteen different rounds, finally 72 00:04:24,800 --> 00:04:26,880 Speaker 1: got enough on his own side of the aisle to 73 00:04:26,960 --> 00:04:30,560 Speaker 1: make him speaker. Challenges from what I understand is that 74 00:04:30,600 --> 00:04:33,720 Speaker 1: Kevin McCarthy promised a lot of things to a lot 75 00:04:33,760 --> 00:04:37,760 Speaker 1: of different people in his own caucus, and so this 76 00:04:37,920 --> 00:04:40,120 Speaker 1: might be a challenge for him to put a clean 77 00:04:40,960 --> 00:04:44,240 Speaker 1: debt ceiling increase on the floor. But one way or 78 00:04:44,240 --> 00:04:46,360 Speaker 1: the other, he's going to need to do it. Are 79 00:04:46,400 --> 00:04:49,960 Speaker 1: you hinting at a discharged petition to force that to happen? 80 00:04:51,000 --> 00:04:56,040 Speaker 1: Not necessarily. Look, I don't discount the possibility of that happening, 81 00:04:57,360 --> 00:05:00,359 Speaker 1: but I've always been what I would call a charge 82 00:05:00,360 --> 00:05:04,440 Speaker 1: petition realists, and that is that the reality is it's 83 00:05:04,720 --> 00:05:07,920 Speaker 1: very difficult to do. I mean, it's happened once in 84 00:05:07,960 --> 00:05:11,240 Speaker 1: the last decade, it's happened twice successfully in the last 85 00:05:11,279 --> 00:05:14,960 Speaker 1: two decades. So we need to be realistic. You know, 86 00:05:15,000 --> 00:05:18,760 Speaker 1: there's one scenario out there in which Kevin McCarthy would 87 00:05:19,120 --> 00:05:23,000 Speaker 1: secretly be very happy to see a discharge petition because 88 00:05:23,000 --> 00:05:25,360 Speaker 1: it would get the job done in terms of raising 89 00:05:25,360 --> 00:05:30,000 Speaker 1: the debt ceiling and by the way, avoiding a worldwide 90 00:05:30,080 --> 00:05:33,320 Speaker 1: cataclysmic event. But at the same time, he wouldn't have 91 00:05:33,400 --> 00:05:36,560 Speaker 1: to be seen as in any way being part of 92 00:05:36,560 --> 00:05:39,360 Speaker 1: doing it. So I can see it from that perspective, 93 00:05:39,400 --> 00:05:43,320 Speaker 1: But the reality is without at least the tacit support 94 00:05:43,400 --> 00:05:48,000 Speaker 1: of the speaker. It is enormously difficult to achieve. So 95 00:05:48,320 --> 00:05:51,159 Speaker 1: it sounds like we're still in kind of the context 96 00:05:51,160 --> 00:05:56,400 Speaker 1: of putting pressure on Kevin McCarthy. In addition to that, 97 00:05:56,520 --> 00:05:58,200 Speaker 1: I want to ask you, because I know you've had 98 00:05:58,240 --> 00:06:01,760 Speaker 1: some interest in the idea of changing the law so 99 00:06:01,800 --> 00:06:05,159 Speaker 1: that we as you said, the cataclysmic nature of this 100 00:06:05,240 --> 00:06:07,280 Speaker 1: that we have to cover every couple of years. It 101 00:06:07,320 --> 00:06:11,679 Speaker 1: seems like, is there a realistic path forward to either 102 00:06:12,120 --> 00:06:14,680 Speaker 1: ending the debt limit or changing the law in some 103 00:06:14,760 --> 00:06:16,920 Speaker 1: way so that we don't do this all the time? 104 00:06:17,880 --> 00:06:19,680 Speaker 1: You know, I'm really excited to say I think the 105 00:06:19,720 --> 00:06:23,320 Speaker 1: answer is yes. Actually, on your show about twenty four 106 00:06:23,360 --> 00:06:26,920 Speaker 1: hours ago, Jody Arrington himself signaled a willingness to look 107 00:06:26,920 --> 00:06:29,839 Speaker 1: at this. The debt feeling, by the way, came about 108 00:06:29,880 --> 00:06:33,400 Speaker 1: a century ago as sort of an accident of history. 109 00:06:34,640 --> 00:06:38,200 Speaker 1: It was actually done by Treasury to make it easier 110 00:06:38,240 --> 00:06:41,200 Speaker 1: to pay our debts, not more difficult. It is now, 111 00:06:41,440 --> 00:06:43,360 Speaker 1: you know, over the last dozen years or so, it 112 00:06:43,360 --> 00:06:47,120 Speaker 1: has been completely weaponized in a very different way. My 113 00:06:47,279 --> 00:06:51,719 Speaker 1: concern is that at some point, if we allow this 114 00:06:51,880 --> 00:06:56,800 Speaker 1: mechanism to continue and given how divisive and frankly dysfunctional 115 00:06:56,880 --> 00:07:01,840 Speaker 1: our politics have become. This is just dane the idea 116 00:07:02,120 --> 00:07:07,039 Speaker 1: that one party in the majority could essentially tank the 117 00:07:07,240 --> 00:07:13,080 Speaker 1: national and worldwide economy. That is a ticking time bomb. 118 00:07:13,200 --> 00:07:16,360 Speaker 1: And so my bill is the debt ceiling reformat. I've 119 00:07:16,440 --> 00:07:20,080 Speaker 1: introduced it, the last couple of sessions of Congress will 120 00:07:20,120 --> 00:07:25,280 Speaker 1: be reintroducing it again the spring. Really looking for Republicans 121 00:07:25,280 --> 00:07:28,560 Speaker 1: to jump on board. Any Republican member who would like 122 00:07:28,640 --> 00:07:30,840 Speaker 1: to see this problem go away and have the debt 123 00:07:30,840 --> 00:07:33,880 Speaker 1: ceiling increased but not want to vote for it, this 124 00:07:33,960 --> 00:07:36,800 Speaker 1: is your answer. What my bill very simply would do. 125 00:07:37,200 --> 00:07:41,360 Speaker 1: Who would allow the executive branch to initiate an increase 126 00:07:41,400 --> 00:07:43,960 Speaker 1: in the debt ceiling. Congress would then have up to 127 00:07:44,080 --> 00:07:49,160 Speaker 1: thirty days to disapprove that, but absent Congressional action, the 128 00:07:49,240 --> 00:07:52,160 Speaker 1: debt ceiling increase would take place. So I think that's 129 00:07:52,680 --> 00:07:56,880 Speaker 1: a more responsible way of handling it for what is 130 00:07:56,920 --> 00:08:01,520 Speaker 1: admittedly a very confusing situation to most of my voters. 131 00:08:01,560 --> 00:08:05,520 Speaker 1: They can't believe that we can vote on spending approve it. 132 00:08:05,600 --> 00:08:07,920 Speaker 1: A president can sign those spending bills in the law, 133 00:08:08,400 --> 00:08:11,320 Speaker 1: and then there's a separate vote. Years later as that 134 00:08:11,440 --> 00:08:13,280 Speaker 1: whether or not we're actually going to pay the bills 135 00:08:13,640 --> 00:08:16,200 Speaker 1: that we racked up some years ago. Right, well, we'll 136 00:08:16,200 --> 00:08:18,800 Speaker 1: have an eye out for the introduction of your bill 137 00:08:18,840 --> 00:08:20,840 Speaker 1: again and see who you can get it get on 138 00:08:20,880 --> 00:08:23,440 Speaker 1: as co sponsors. I want to keep asking you about 139 00:08:23,480 --> 00:08:26,240 Speaker 1: budget issues. But I should ask because this headline just 140 00:08:26,320 --> 00:08:31,120 Speaker 1: came across the Senate blocks Biden's ESG investing rule. They 141 00:08:31,200 --> 00:08:34,560 Speaker 1: got the votes, sufficient votes for a majority in the 142 00:08:34,600 --> 00:08:36,920 Speaker 1: Senate on the bill that you got through the House yesterday. 143 00:08:37,520 --> 00:08:40,160 Speaker 1: Appears to set up a veto by Biden. But I 144 00:08:40,200 --> 00:08:42,480 Speaker 1: want to get your reaction to that news that the 145 00:08:42,720 --> 00:08:46,880 Speaker 1: ESG bill is through the Senate. Now. Well, Bloomberg is 146 00:08:46,880 --> 00:08:50,080 Speaker 1: a top news organization, so you're breaking news to me. 147 00:08:50,679 --> 00:08:53,240 Speaker 1: I didn't realize that I was on the train heading 148 00:08:53,280 --> 00:08:57,000 Speaker 1: from DC back home to Philadelphia, so I had missed that. 149 00:08:57,400 --> 00:08:59,320 Speaker 1: I have to say, look, I've been a supporter and 150 00:08:59,360 --> 00:09:04,240 Speaker 1: a believers as an individual in EESG funds. I'm not 151 00:09:04,320 --> 00:09:08,040 Speaker 1: a money manager. I'm not recommending them. I have to 152 00:09:08,040 --> 00:09:10,760 Speaker 1: say though, as an investor, I would like to have 153 00:09:10,800 --> 00:09:14,040 Speaker 1: them available as an option. I don't see why for 154 00:09:14,120 --> 00:09:17,240 Speaker 1: your four o one K or your Rothiro or traditional 155 00:09:17,280 --> 00:09:20,240 Speaker 1: era that you can at least have that as an option. 156 00:09:21,440 --> 00:09:24,480 Speaker 1: So I vote. There was a House vote this week. 157 00:09:24,880 --> 00:09:28,160 Speaker 1: I voted to keep them as an option, and I 158 00:09:28,200 --> 00:09:32,840 Speaker 1: think that's more appropriate frankly for the investor. I want 159 00:09:32,840 --> 00:09:35,400 Speaker 1: to ask, especially if I have the ranking member of 160 00:09:35,440 --> 00:09:38,640 Speaker 1: the Budget Committee on the phone. You know, it's a 161 00:09:38,679 --> 00:09:41,440 Speaker 1: little more rare to see the minority party put out 162 00:09:41,679 --> 00:09:44,160 Speaker 1: their own budget resolution, but that used to be something 163 00:09:44,160 --> 00:09:48,000 Speaker 1: that happens more frequently. We heard from Congregation Chairman Arrington 164 00:09:48,080 --> 00:09:50,439 Speaker 1: about the work he's doing on the Republican budget resolution. 165 00:09:50,520 --> 00:09:53,480 Speaker 1: Is there going to be a minority party, a Democrat, 166 00:09:53,880 --> 00:09:57,439 Speaker 1: a Democratic budget resolution that you're going to work on? Yeah, 167 00:09:57,480 --> 00:09:59,160 Speaker 1: you know, it's interesting you asked that because I was 168 00:09:59,200 --> 00:10:01,439 Speaker 1: just talking about that some of my colleagues this afternoon 169 00:10:01,520 --> 00:10:05,680 Speaker 1: on the floor. Democratic colleague, So, look, the President, who 170 00:10:05,720 --> 00:10:08,240 Speaker 1: obviously is of our own party, is going to be 171 00:10:08,280 --> 00:10:12,360 Speaker 1: presenting his budget on March ninth. I suspect it's going 172 00:10:12,400 --> 00:10:14,320 Speaker 1: to be a budget that most of us on my 173 00:10:14,360 --> 00:10:18,559 Speaker 1: Democratic side agree with. So right now I'm having conversation 174 00:10:18,559 --> 00:10:21,240 Speaker 1: with my Democratic colleagues. Do we want to rally around 175 00:10:21,960 --> 00:10:25,960 Speaker 1: the President's budget and make that ours or do we 176 00:10:26,000 --> 00:10:29,320 Speaker 1: want to offer our own budget as essentially something that 177 00:10:29,320 --> 00:10:32,800 Speaker 1: would probably be like the presidents, but perhaps with some changes. 178 00:10:32,880 --> 00:10:36,240 Speaker 1: So to be continued. I don't know the answer to 179 00:10:36,280 --> 00:10:39,280 Speaker 1: that question yet, but we'll be able to know one 180 00:10:39,280 --> 00:10:42,400 Speaker 1: way or the other probably in about a month or so. Okay, well, 181 00:10:42,400 --> 00:10:45,480 Speaker 1: what are some of the top things. I know it's 182 00:10:45,559 --> 00:10:47,840 Speaker 1: a big document, but maybe one or two things that 183 00:10:47,880 --> 00:10:50,760 Speaker 1: you're really looking forward to when the president's budget does 184 00:10:50,800 --> 00:10:53,719 Speaker 1: come out next week. Yeah. So first, let's just take 185 00:10:53,720 --> 00:10:57,880 Speaker 1: a step back and recognize that, in my view, but 186 00:10:58,040 --> 00:11:02,000 Speaker 1: certainly not only my view, the term in Congress we 187 00:11:02,200 --> 00:11:07,360 Speaker 1: just completed, in my view again, was the most successful 188 00:11:08,080 --> 00:11:12,480 Speaker 1: on domestic policy since the nineteen sixty five sixty six Congress. 189 00:11:12,520 --> 00:11:15,480 Speaker 1: What we did on the bipartisan Infrastructure Bill, an issue 190 00:11:15,480 --> 00:11:20,240 Speaker 1: that I debated for decades, including, by the way, by 191 00:11:20,280 --> 00:11:23,360 Speaker 1: the most recent Republican president, who wasn't able to get 192 00:11:23,360 --> 00:11:25,560 Speaker 1: it done. We were able to get it done, and 193 00:11:25,600 --> 00:11:29,559 Speaker 1: with a large Republican majority, especially in the Senate, joining 194 00:11:29,640 --> 00:11:32,520 Speaker 1: us the Chips and Science Act, which will help us 195 00:11:32,760 --> 00:11:38,480 Speaker 1: enormously decouple ourselves in terms of these precious chips from Asia. 196 00:11:38,720 --> 00:11:41,920 Speaker 1: What we just did in terms of healthcare for those 197 00:11:42,040 --> 00:11:45,160 Speaker 1: veterans who were exposed to burn pits and now may 198 00:11:45,200 --> 00:11:49,600 Speaker 1: have result may have developed cancer as a result, the 199 00:11:49,640 --> 00:11:54,760 Speaker 1: American Rescue Plan, the initial COVID bills right when the 200 00:11:54,760 --> 00:11:59,600 Speaker 1: President took office, etc. Etc. These are enormous bills that 201 00:12:00,200 --> 00:12:02,439 Speaker 1: are not just that, you know, a matter for last 202 00:12:02,520 --> 00:12:05,280 Speaker 1: year or the last couple of years. They will continue 203 00:12:05,280 --> 00:12:07,480 Speaker 1: to play out over the course of the next decade 204 00:12:08,000 --> 00:12:11,240 Speaker 1: as those checks are being rolled out. So really, what 205 00:12:11,320 --> 00:12:13,400 Speaker 1: I want to focus on is making sure that we 206 00:12:13,480 --> 00:12:16,960 Speaker 1: have locked in the games of the last two years 207 00:12:17,000 --> 00:12:21,200 Speaker 1: and that we protect them from any potential backsliding or 208 00:12:21,360 --> 00:12:26,600 Speaker 1: cut that would now happen under Republican rule. Right before 209 00:12:26,600 --> 00:12:28,880 Speaker 1: I let you go, Congressman, you're from the Philadelphia area. 210 00:12:28,920 --> 00:12:30,880 Speaker 1: The Sixers are third in the East? Is this a 211 00:12:30,960 --> 00:12:35,920 Speaker 1: legit Finals contender? Well, first, as I'm literally in the 212 00:12:36,000 --> 00:12:39,360 Speaker 1: car here one five because I've just gotten off the train, 213 00:12:39,840 --> 00:12:43,040 Speaker 1: i am, And what right now is a sports city 214 00:12:43,040 --> 00:12:44,720 Speaker 1: on a hell of a role. The Phillies went to 215 00:12:44,760 --> 00:12:47,480 Speaker 1: the World Series, the Eagles went to the Super Bowl, 216 00:12:47,520 --> 00:12:51,000 Speaker 1: even though we got robbed by that focus holding call. 217 00:12:51,480 --> 00:12:53,800 Speaker 1: And the Sixers are looking good. But the last couple 218 00:12:53,840 --> 00:12:56,679 Speaker 1: of years they've had a tendency to disappoint in the playoffs. 219 00:12:57,160 --> 00:13:00,680 Speaker 1: So if in this budget I can prevent bid you 220 00:13:00,840 --> 00:13:03,920 Speaker 1: some extra funding to help us down the treat and 221 00:13:04,000 --> 00:13:06,920 Speaker 1: make sure we get that sixth or seventh man, I'll 222 00:13:06,960 --> 00:13:09,679 Speaker 1: be honest, I'm not about doing it so close, so close. 223 00:13:09,720 --> 00:13:12,760 Speaker 1: Congressman Brendan Boyle, thank you for joining us. Let's bring 224 00:13:12,800 --> 00:13:14,840 Speaker 1: in the panel. We've got Jeannie she and Zano and 225 00:13:14,960 --> 00:13:19,120 Speaker 1: Rick Davis are Bloomberg Politics contributors, and you know, while 226 00:13:19,120 --> 00:13:22,720 Speaker 1: we're talking to the Democratic budget experts, let's also bring 227 00:13:22,760 --> 00:13:25,679 Speaker 1: in a little bit of sound from earlier today. This 228 00:13:25,720 --> 00:13:29,240 Speaker 1: was Sheldon Whitehouse speaking earlier today. He's the top Democrat 229 00:13:29,240 --> 00:13:32,480 Speaker 1: on the Budget Committee in the Senate. The chairman discussing 230 00:13:32,520 --> 00:13:38,880 Speaker 1: the anti woke I suppose budget priorities of Republicans. Well, 231 00:13:38,920 --> 00:13:41,120 Speaker 1: their problem is you can say woke for a while, 232 00:13:41,520 --> 00:13:44,360 Speaker 1: but then people will notice that they no longer have 233 00:13:44,440 --> 00:13:48,360 Speaker 1: disability benefits, or that they can't afford their prescription drugs, 234 00:13:49,240 --> 00:13:53,480 Speaker 1: or that huge corporations are paying nothing in taxes. The 235 00:13:53,600 --> 00:13:59,240 Speaker 1: woke screen is a smoke screen, and people need to 236 00:13:59,280 --> 00:14:03,720 Speaker 1: see throw it. The woke screen is a smoke screen, 237 00:14:03,760 --> 00:14:06,880 Speaker 1: and Americans need to see throw it to what Republicans 238 00:14:06,880 --> 00:14:12,439 Speaker 1: are really trying to do. That was Chuck Schumer commenting 239 00:14:12,440 --> 00:14:16,440 Speaker 1: on the genius of the rhyme woke screen smoke screen 240 00:14:17,040 --> 00:14:20,040 Speaker 1: a tongue twister. Let's bring in Rick and Genie, because 241 00:14:20,080 --> 00:14:22,240 Speaker 1: I we did even a little bit get into this 242 00:14:22,480 --> 00:14:27,400 Speaker 1: with the with Chairman Arrington yesterday about they've they've eliminated 243 00:14:27,440 --> 00:14:30,280 Speaker 1: the idea of a big entitlement solvency measure on the 244 00:14:30,320 --> 00:14:32,880 Speaker 1: debt limit. Um, they say, don't they don't want to 245 00:14:32,920 --> 00:14:37,720 Speaker 1: cut defense funding? Rick, are Republicans kind of narrowing them 246 00:14:37,800 --> 00:14:42,200 Speaker 1: down themselves down to such small politicized things that they 247 00:14:42,200 --> 00:14:45,960 Speaker 1: don't even really have many options to cut spending. Well, 248 00:14:45,960 --> 00:14:49,400 Speaker 1: I think you've uncovered the mystery of the Republican strategy, right. 249 00:14:49,480 --> 00:14:51,920 Speaker 1: It's not really to cut spending, it's to make the 250 00:14:52,040 --> 00:14:55,680 Speaker 1: spending on these quote woke matters. I love the woke 251 00:14:55,720 --> 00:14:59,000 Speaker 1: screen as a smoke screen. Really well done. Um and 252 00:14:59,000 --> 00:15:01,160 Speaker 1: and and and it's just like it's just like a 253 00:15:01,200 --> 00:15:03,920 Speaker 1: ploy to uh, to try and beat the drum on 254 00:15:04,040 --> 00:15:06,640 Speaker 1: some of these these woke measures that were you know 255 00:15:06,720 --> 00:15:09,720 Speaker 1: in there in the Republican's minds, past is mostly entitlements. 256 00:15:09,760 --> 00:15:12,560 Speaker 1: So we're really talking about, you know, gathering a popage 257 00:15:12,600 --> 00:15:15,600 Speaker 1: of entitlements out of the HHS budget, you know, out 258 00:15:15,600 --> 00:15:18,400 Speaker 1: of the transportation budget, and and saying, oh, well, these 259 00:15:18,400 --> 00:15:20,640 Speaker 1: things were really horrible. They should have never been in 260 00:15:20,680 --> 00:15:22,960 Speaker 1: the budget to begin with. And they'll they'll use them 261 00:15:23,000 --> 00:15:25,880 Speaker 1: is ways of sort of driving their culture war debate. 262 00:15:26,000 --> 00:15:29,760 Speaker 1: And it's really got very little to do with, um, 263 00:15:29,800 --> 00:15:33,160 Speaker 1: you know, trying to reign in federal spending or attack 264 00:15:33,240 --> 00:15:37,280 Speaker 1: the deficit. But yeah, they'll use this time effectively to 265 00:15:37,920 --> 00:15:41,480 Speaker 1: demagogue the wokeness of it. And uh, and I think 266 00:15:41,520 --> 00:15:45,400 Speaker 1: that most members of Congress who are responsible fiscal conservatives 267 00:15:45,440 --> 00:15:47,840 Speaker 1: will just roll their eyes, thinking how did we get 268 00:15:47,840 --> 00:15:51,560 Speaker 1: into this mess? Right? Um, we've got a rhyme of 269 00:15:51,600 --> 00:15:53,760 Speaker 1: the day, So that's that's good to have that covered. 270 00:15:53,920 --> 00:15:55,760 Speaker 1: Coming up, we're gonna keep the panel around. We're going 271 00:15:55,800 --> 00:15:59,840 Speaker 1: to talk about the heat on Pete Boutagage, the Transportation Secretary. 272 00:15:59,920 --> 00:16:04,520 Speaker 1: Is that actually the person who should be the focus 273 00:16:04,520 --> 00:16:07,360 Speaker 1: in everything we've seen in East Palestine? And after that 274 00:16:07,360 --> 00:16:10,280 Speaker 1: we're going to talk Chicago politics with Shoothy Singh from 275 00:16:10,320 --> 00:16:14,040 Speaker 1: our Chicago bureau. Just a few minutes until we get 276 00:16:14,080 --> 00:16:19,760 Speaker 1: into Lorie Lightfoot's problems there. I'm Jack Fitzpatrick. This is Bloomberg. 277 00:16:29,840 --> 00:16:35,280 Speaker 1: This is Bloomberg Sound On with Joe Matthew on Bloomberg Radio. 278 00:16:36,520 --> 00:16:39,480 Speaker 1: Garret Boderger kind of saying more interested in pursuing press 279 00:16:39,480 --> 00:16:44,240 Speaker 1: coverage for WOK initiatives and climate nonsense than an attending 280 00:16:44,360 --> 00:16:48,040 Speaker 1: the basic elements of his day job. Remember Elaine Chow 281 00:16:48,240 --> 00:16:51,240 Speaker 1: she was you know, she was the head of Department 282 00:16:51,240 --> 00:16:53,920 Speaker 1: of Transportation and where when there was these types of 283 00:16:54,320 --> 00:16:59,280 Speaker 1: chemical spills, nobody was calling for her to be fired. Well, 284 00:16:59,320 --> 00:17:04,119 Speaker 1: we've got a bait primarily over Transportation Secretary Pete Boutajage, 285 00:17:04,160 --> 00:17:07,800 Speaker 1: maybe even more so than on the substance of the 286 00:17:09,880 --> 00:17:13,439 Speaker 1: what is happening after the train derailment in East Palestine. 287 00:17:13,880 --> 00:17:17,560 Speaker 1: I'm Jack Fitzpatrick with our panel today. Rick Davis and 288 00:17:17,680 --> 00:17:20,560 Speaker 1: Jeannie she and Zano are Bloomberg Politics contributors. You heard 289 00:17:20,600 --> 00:17:23,679 Speaker 1: it from Senator Mitch McConnell and Karen Jean Pierre at 290 00:17:23,680 --> 00:17:27,200 Speaker 1: the White House having a little back and forth among 291 00:17:27,240 --> 00:17:30,240 Speaker 1: many politicians having a back and forth on Bootajage. Specifically, 292 00:17:30,240 --> 00:17:33,840 Speaker 1: I would note Congressman Mike Waltz, Republican from Florida, as 293 00:17:33,920 --> 00:17:37,440 Speaker 1: leading a handful of House Republicans calling for Bootajage to resign. 294 00:17:37,800 --> 00:17:41,600 Speaker 1: Senator Marco Rubio has previously done the same, Genie. I 295 00:17:42,080 --> 00:17:44,800 Speaker 1: want to get it straight from you. The big picture 296 00:17:44,880 --> 00:17:47,800 Speaker 1: question here is this actually about Pete Pete Boutajage. Is 297 00:17:47,840 --> 00:17:51,080 Speaker 1: this about any hit of his policy failures or is 298 00:17:51,119 --> 00:17:55,639 Speaker 1: this more about his profile and his political ambitions? You know, 299 00:17:55,720 --> 00:17:57,760 Speaker 1: I think it's a combination of both. I think Pete 300 00:17:57,760 --> 00:18:00,480 Speaker 1: Buddha Judge and the administration as a whole, they were 301 00:18:00,600 --> 00:18:04,000 Speaker 1: late onto the story coming out of Ohio and the 302 00:18:04,000 --> 00:18:08,160 Speaker 1: train derailment, and Pete Buddha Judge made some unfortunate comments 303 00:18:08,240 --> 00:18:10,159 Speaker 1: things like, you know, oh, I can't go to all 304 00:18:10,200 --> 00:18:13,160 Speaker 1: of them. There's one thousand derailments a year. And while 305 00:18:13,200 --> 00:18:15,840 Speaker 1: there is some truth to that, this was a big deal. 306 00:18:16,119 --> 00:18:20,320 Speaker 1: These were toxic chemicals, and the administration was flat footed 307 00:18:20,359 --> 00:18:23,200 Speaker 1: in that response. So that's part of it. But absolutely 308 00:18:23,200 --> 00:18:25,520 Speaker 1: there are politics at play here. He is seen as 309 00:18:25,520 --> 00:18:29,159 Speaker 1: one of the leading contenders, you know, after President Biden 310 00:18:29,240 --> 00:18:32,280 Speaker 1: and potentially Vice President Harris, as an up and coming 311 00:18:32,720 --> 00:18:35,600 Speaker 1: next on the bench democrat at the national level. So 312 00:18:35,640 --> 00:18:39,080 Speaker 1: the ability of Republicans to sort of keep underscoring that 313 00:18:39,160 --> 00:18:42,159 Speaker 1: he doesn't sort of match the moment helps them politically. 314 00:18:42,520 --> 00:18:44,879 Speaker 1: But I think the really important story here is that 315 00:18:44,960 --> 00:18:48,399 Speaker 1: this is a community that feels forgotten, and Republicans are 316 00:18:48,400 --> 00:18:50,640 Speaker 1: going to keep pointing to the fact that the president 317 00:18:50,760 --> 00:18:53,800 Speaker 1: is more focused on Ukraine and Zelenski than he is 318 00:18:53,800 --> 00:18:57,920 Speaker 1: on Americans in the rural Midwest, and that's something we're 319 00:18:57,960 --> 00:19:00,679 Speaker 1: hearing from candidates as well. To Santis, you know, on 320 00:19:00,840 --> 00:19:03,520 Speaker 1: his not on his book tour that is not a 321 00:19:03,760 --> 00:19:06,359 Speaker 1: run for the presidency yet has been saying, you know, 322 00:19:06,480 --> 00:19:09,840 Speaker 1: I have Midwestern values, My parents are from those parts 323 00:19:09,840 --> 00:19:12,560 Speaker 1: of the country, and I'm going to bring those values back. 324 00:19:12,640 --> 00:19:14,920 Speaker 1: So it works to their advantage. We're going to keep 325 00:19:14,920 --> 00:19:17,359 Speaker 1: hearing about it. I doubt he gets impeached, but the 326 00:19:17,400 --> 00:19:19,879 Speaker 1: more they talk about it, the better off for them politically. 327 00:19:20,160 --> 00:19:22,360 Speaker 1: Take it for me, a lot of people's parents are 328 00:19:22,440 --> 00:19:26,240 Speaker 1: from the Midwest. Whether you're from the Midwest or not. Rick, 329 00:19:26,600 --> 00:19:30,680 Speaker 1: you could make the case that a cabinet secretary, especially 330 00:19:30,760 --> 00:19:34,440 Speaker 1: the transportation secretary, really only becomes high profile if something 331 00:19:34,480 --> 00:19:36,760 Speaker 1: goes wrong. But I'm curious if this is maybe a 332 00:19:36,800 --> 00:19:40,560 Speaker 1: notable exception considering the role that Pete Buduji has in 333 00:19:40,600 --> 00:19:46,080 Speaker 1: this administration, especially considering everything that's being done with the 334 00:19:46,200 --> 00:19:49,119 Speaker 1: role out of the Infrastructure law enacted in late twenty 335 00:19:49,160 --> 00:19:51,719 Speaker 1: twenty one, I'm curious. I mean, do you think he 336 00:19:51,800 --> 00:19:53,800 Speaker 1: was kind of doomed from the start to take the 337 00:19:53,840 --> 00:19:56,879 Speaker 1: heat for any mistakes and not really get much glory. Yeah. Well, 338 00:19:56,880 --> 00:19:59,119 Speaker 1: first of all, that is the job of the cabinet, right, 339 00:19:59,200 --> 00:20:02,720 Speaker 1: I mean, like, if anything bad happens, it's their responsibility, 340 00:20:02,960 --> 00:20:04,879 Speaker 1: and if anything good happens, they need to give it 341 00:20:04,880 --> 00:20:06,480 Speaker 1: to the White House and let the President take credit 342 00:20:06,480 --> 00:20:10,240 Speaker 1: for it. So I started my career in government in 343 00:20:10,280 --> 00:20:13,760 Speaker 1: the White House with Ronald Reagan working on cabinet affairs, 344 00:20:13,800 --> 00:20:17,680 Speaker 1: and this was a mandatory requirement. Anything happens out there, 345 00:20:18,920 --> 00:20:21,760 Speaker 1: the secretary and the agency employees get out there and 346 00:20:22,359 --> 00:20:25,080 Speaker 1: fix it, and then they give the opportunity for the 347 00:20:25,080 --> 00:20:28,040 Speaker 1: President take credit, because after all, they're just glorified staffers. 348 00:20:28,280 --> 00:20:31,000 Speaker 1: I mean, that's what a cabinet secretary is. And what 349 00:20:31,080 --> 00:20:34,040 Speaker 1: I don't understand is how tone deaf this administration has 350 00:20:34,040 --> 00:20:36,240 Speaker 1: been around an issue that, frankly, I would have thought 351 00:20:36,280 --> 00:20:38,399 Speaker 1: they'd hit out of the park. Oh, let's let the 352 00:20:39,440 --> 00:20:43,520 Speaker 1: train Norfolk Southern Company handle the cleanup why would a 353 00:20:43,600 --> 00:20:47,400 Speaker 1: democratic administration not want EPA to handle the cleanup? Then 354 00:20:47,440 --> 00:20:49,480 Speaker 1: they flipped on that, and now they're flipping on a 355 00:20:49,560 --> 00:20:52,040 Speaker 1: few other issues, and I just don't think they had 356 00:20:52,080 --> 00:20:57,119 Speaker 1: their act together. Why are they allowing the narrative to 357 00:20:57,160 --> 00:20:59,920 Speaker 1: get into this idea that you know Biden is ignoring them, 358 00:21:00,200 --> 00:21:02,480 Speaker 1: then send Harris. I mean, that's what a vice president does. 359 00:21:02,560 --> 00:21:05,760 Speaker 1: They go to disasters. So I just don't really get it. 360 00:21:05,800 --> 00:21:07,440 Speaker 1: They're kind of like making it up as they go along. 361 00:21:07,480 --> 00:21:10,800 Speaker 1: And this is a very skilled, very experienced team. They 362 00:21:10,800 --> 00:21:12,439 Speaker 1: should have knocked this one out of the park at 363 00:21:12,440 --> 00:21:16,760 Speaker 1: the very beginning. Missed opportunities, mistakes, and a I think 364 00:21:16,840 --> 00:21:20,480 Speaker 1: political spotlight on this is speaking of a political spotlight. 365 00:21:20,520 --> 00:21:22,680 Speaker 1: Let's talk about Ted Cruz. Senator to Ted Cruz from 366 00:21:23,160 --> 00:21:27,280 Speaker 1: Texas was railing on Attorney General Merritt Garland during a 367 00:21:27,359 --> 00:21:29,719 Speaker 1: hearing today, saying, you didn't do enough to keep Supreme 368 00:21:29,760 --> 00:21:33,360 Speaker 1: Court justices safe during protesting you their homes. Let's play 369 00:21:33,359 --> 00:21:36,720 Speaker 1: the exchange on that. The job of the United States marshals, 370 00:21:36,760 --> 00:21:40,159 Speaker 1: it's to defend the lives, is to defend the lives 371 00:21:40,160 --> 00:21:43,199 Speaker 1: of the justices, and that's our number one priority. They 372 00:21:43,200 --> 00:21:45,560 Speaker 1: have are you unwilling to say no? The answers no, 373 00:21:45,760 --> 00:21:47,639 Speaker 1: you know it's no. I know it's no. Everyone in 374 00:21:47,640 --> 00:21:49,679 Speaker 1: this in this hearing room knows it's no. You're not 375 00:21:49,760 --> 00:21:51,680 Speaker 1: willing to answer a question. Have you brought a case 376 00:21:51,760 --> 00:21:53,520 Speaker 1: under this statute? Yes? Or not? Far as I know, 377 00:21:53,560 --> 00:21:56,119 Speaker 1: we haven't. And what we have done is defended to 378 00:21:56,160 --> 00:21:59,240 Speaker 1: the lives of the justices seventy years Marshals, how do 379 00:21:59,320 --> 00:22:02,520 Speaker 1: you decide which criminal statutes the DOJ and forces in 380 00:22:02,560 --> 00:22:05,399 Speaker 1: which one it doesn't? The United States Marshals know that 381 00:22:05,440 --> 00:22:07,680 Speaker 1: they have full of you. I recognize you want to 382 00:22:07,680 --> 00:22:11,320 Speaker 1: give a separate speech, all right, So it's an exchange 383 00:22:11,400 --> 00:22:15,880 Speaker 1: between on the assignment of US marshals to protect Supreme 384 00:22:15,880 --> 00:22:21,320 Speaker 1: Court justices but not filing charges against anybody in particular. Genie, 385 00:22:21,359 --> 00:22:24,879 Speaker 1: I sometimes struggle to decipher between these two options. Was 386 00:22:24,920 --> 00:22:29,640 Speaker 1: this actually specifically about something that functionally affects Supreme Court 387 00:22:29,680 --> 00:22:33,560 Speaker 1: justice safety? Or is this kind of the classic confrontational 388 00:22:33,640 --> 00:22:37,720 Speaker 1: hearing video clip. It is a feisty ted cruise trying 389 00:22:37,760 --> 00:22:40,000 Speaker 1: to get a clip out there, and he will and 390 00:22:40,080 --> 00:22:43,359 Speaker 1: he'll use it on his podcast, and you know, listen, 391 00:22:43,520 --> 00:22:46,000 Speaker 1: the reality is is that we have seen more, and 392 00:22:46,080 --> 00:22:48,359 Speaker 1: it's a serious issue. We have seen not just Supreme 393 00:22:48,359 --> 00:22:52,560 Speaker 1: Court justices, but federal judges whose security not because of 394 00:22:52,560 --> 00:22:55,119 Speaker 1: anything Merrick Garland has done or not, but they have 395 00:22:55,240 --> 00:22:57,880 Speaker 1: been you know, at the forefront of what has been 396 00:22:58,280 --> 00:23:01,560 Speaker 1: really really horrific. Is I mean, I live in New York. 397 00:23:01,600 --> 00:23:04,919 Speaker 1: The federal judge in New Jersey whose son was killed. 398 00:23:05,040 --> 00:23:07,719 Speaker 1: These are horrific attacks. So that is a real issue. 399 00:23:08,240 --> 00:23:12,119 Speaker 1: Him yelling at the Attorney General about this is not 400 00:23:12,160 --> 00:23:15,320 Speaker 1: going to do much to change it. They don't file charges, 401 00:23:15,520 --> 00:23:18,160 Speaker 1: it's not in this case, at least the case he's 402 00:23:18,160 --> 00:23:20,760 Speaker 1: talking about, they did not file charges. But the reality 403 00:23:20,880 --> 00:23:23,960 Speaker 1: is it has more to do with funding by Congress 404 00:23:24,240 --> 00:23:27,199 Speaker 1: to make sure that they have enough Marshal's assigned to 405 00:23:27,240 --> 00:23:29,840 Speaker 1: protect these people. And that's the reality of it. And 406 00:23:29,880 --> 00:23:31,960 Speaker 1: so Congress does own some of this as well, and 407 00:23:32,000 --> 00:23:34,119 Speaker 1: Ted Cruz didn't want to talk about that portion of it. 408 00:23:34,440 --> 00:23:37,679 Speaker 1: It's a serious issue that Congress has to and the 409 00:23:37,720 --> 00:23:40,680 Speaker 1: last couple of years has legislated on, as you said, 410 00:23:40,720 --> 00:23:45,840 Speaker 1: funding resources. But we've already established that a Cabinet secretary 411 00:23:46,359 --> 00:23:49,159 Speaker 1: largely exists to take the heat. So it is what 412 00:23:49,200 --> 00:23:53,280 Speaker 1: it is for Merritt Garland, let's discuss. I don't know 413 00:23:53,280 --> 00:23:54,680 Speaker 1: if I should call him the man of the hour, 414 00:23:54,760 --> 00:23:56,920 Speaker 1: but I want to talk about George Santos because he 415 00:23:56,960 --> 00:24:00,440 Speaker 1: actually introduced a bill. It is a surprisingly normal bill. 416 00:24:00,720 --> 00:24:03,040 Speaker 1: It is a bill to raise the state and local 417 00:24:03,080 --> 00:24:06,159 Speaker 1: tax deduction from ten thousand to fifty thousand dollars. It's 418 00:24:06,200 --> 00:24:08,360 Speaker 1: the most normal thing you could expect from a New 419 00:24:08,400 --> 00:24:11,480 Speaker 1: York legislator of either party. Now, I would point out 420 00:24:12,040 --> 00:24:15,800 Speaker 1: that Nick Loloda, another Republican from Long Island who has 421 00:24:15,840 --> 00:24:18,600 Speaker 1: called for Santos to be kicked out of Congress, responded 422 00:24:18,640 --> 00:24:21,440 Speaker 1: to this saying, let's not pretend anything George Santos does 423 00:24:21,800 --> 00:24:25,120 Speaker 1: is serious. But I'm just curious as we see a 424 00:24:25,240 --> 00:24:28,800 Speaker 1: very normal bill filed by one of the least normal 425 00:24:28,840 --> 00:24:30,720 Speaker 1: members of Congress who's been in a lot of hot 426 00:24:30,720 --> 00:24:34,520 Speaker 1: water for lying about his personal and professional background. Jeanie, 427 00:24:34,640 --> 00:24:38,120 Speaker 1: do you see any chance that George Santos just kind 428 00:24:38,160 --> 00:24:41,240 Speaker 1: of blends in among other members of Congress for a 429 00:24:41,280 --> 00:24:45,640 Speaker 1: whole two years. I cannot imagine it. He's got constituents 430 00:24:45,680 --> 00:24:49,920 Speaker 1: protesting his very existence in Congress. I will say I've 431 00:24:50,000 --> 00:24:52,240 Speaker 1: talked about the salt so many times on this show 432 00:24:52,240 --> 00:24:55,000 Speaker 1: because it is extremely popular with people in the place 433 00:24:55,000 --> 00:24:57,600 Speaker 1: where I live, and so he knows what he is 434 00:24:57,600 --> 00:25:00,760 Speaker 1: doing when he is introducing this bill. What the reality 435 00:25:00,920 --> 00:25:04,359 Speaker 1: is is that there is probably not going to be 436 00:25:04,440 --> 00:25:06,920 Speaker 1: a bill like this that passes under Santos's nigh where 437 00:25:06,960 --> 00:25:09,240 Speaker 1: he's going to get credit or will wipe away anything 438 00:25:09,280 --> 00:25:13,560 Speaker 1: that he has done before, regardless of how popular it is. Yeah, 439 00:25:13,680 --> 00:25:17,800 Speaker 1: especially with Republican control of the House, that's a tough one, Rick, 440 00:25:17,880 --> 00:25:20,200 Speaker 1: real quick. I mean, I'm skeptical that anything gets done 441 00:25:20,240 --> 00:25:23,920 Speaker 1: on salt during Republican control of the House? Am I wrong? There? No, Jack, 442 00:25:23,960 --> 00:25:27,560 Speaker 1: I think you hit it right on a nail. They're 443 00:25:27,680 --> 00:25:29,760 Speaker 1: very little appetite for it outside of the big states 444 00:25:29,800 --> 00:25:32,640 Speaker 1: like California, New York, And even though Jeanie loves this, 445 00:25:33,200 --> 00:25:35,240 Speaker 1: there are very few other members who want to really 446 00:25:35,280 --> 00:25:38,479 Speaker 1: expend themselves to do anything about it. And what's interesting 447 00:25:38,520 --> 00:25:40,880 Speaker 1: is there are other bills it's not just Santos's bill, 448 00:25:40,960 --> 00:25:43,320 Speaker 1: but this is pretty generous compared to the others. So, 449 00:25:43,400 --> 00:25:45,359 Speaker 1: I mean, you give him credit for one upping a 450 00:25:45,359 --> 00:25:48,600 Speaker 1: few of these people on generosity, but yeah, this is 451 00:25:48,640 --> 00:25:50,919 Speaker 1: just one of those things that it's going to take 452 00:25:50,960 --> 00:25:53,520 Speaker 1: a real deal. Like, you know, maybe you add this 453 00:25:53,560 --> 00:25:56,879 Speaker 1: to a big omnibus someday and get somebody voting on 454 00:25:56,920 --> 00:25:59,240 Speaker 1: it who otherwise wouldn't ever take the walk on it. 455 00:25:59,320 --> 00:26:02,120 Speaker 1: So I just don't see it as a standalone bill 456 00:26:02,280 --> 00:26:04,440 Speaker 1: getting past any Congress. Right right now, coming up, we're 457 00:26:04,440 --> 00:26:07,440 Speaker 1: going to talk about Lorie Lightfoot's loss in her mayoral 458 00:26:07,480 --> 00:26:12,040 Speaker 1: reelection campaign in Chicago. You're listening to the Bloomberg Sound 459 00:26:12,080 --> 00:26:15,520 Speaker 1: On podcast. Catch us live weekdays at five Eastern on 460 00:26:15,680 --> 00:26:18,680 Speaker 1: Bloomberg dot com, br Heart Radio app, and the Bloomberg 461 00:26:18,720 --> 00:26:22,040 Speaker 1: Business App. We're listening on demand wherever you get your podcast. 462 00:26:23,560 --> 00:26:27,159 Speaker 1: I'm Jack Fitzpatrick from Bloomberg Government in for Joe Matthew. Today, 463 00:26:27,480 --> 00:26:31,520 Speaker 1: Chicago Mayor Lorie Lightfoot lost her reelection bid yesterday. Paul 464 00:26:31,600 --> 00:26:34,680 Speaker 1: Vallas and Brandon Johnson will go to a runoff after 465 00:26:34,720 --> 00:26:39,760 Speaker 1: no one got fifty percent. In January, Bloomberg's David Weston 466 00:26:39,880 --> 00:26:42,520 Speaker 1: spoke with Chicago the Chicago Mayor about some of the 467 00:26:42,720 --> 00:26:46,919 Speaker 1: challenges facing her campaign. We make great progress in twenty 468 00:26:46,920 --> 00:26:50,480 Speaker 1: two Our homicides were down fourteen percent, our shootings were 469 00:26:50,520 --> 00:26:54,359 Speaker 1: down twenty percent, our carjackings were down another ten percent, 470 00:26:54,560 --> 00:26:56,840 Speaker 1: But by no means, are we at the end of 471 00:26:56,880 --> 00:26:59,280 Speaker 1: the road. These are problems that we're decades into making. 472 00:26:59,440 --> 00:27:01,439 Speaker 1: We're not going to get out of them overnight. We 473 00:27:01,560 --> 00:27:06,000 Speaker 1: know that, but we are making measurable progress. So that's 474 00:27:06,000 --> 00:27:09,560 Speaker 1: a lot of challenges. Let's bring in TRUTHI Singh Bloomberg, 475 00:27:09,760 --> 00:27:13,000 Speaker 1: municipal finance reporter out of our Chicago bureau, to make 476 00:27:13,240 --> 00:27:17,480 Speaker 1: sense of the significance of her loss. Mayor Lightfoot garnered 477 00:27:17,600 --> 00:27:22,199 Speaker 1: seventeen percent in this reelection bid. Truth, that was a 478 00:27:22,200 --> 00:27:25,600 Speaker 1: lot of a lot of challenges that the mayor mentioned. 479 00:27:25,920 --> 00:27:28,560 Speaker 1: Why did she lose and especially why did she get 480 00:27:29,040 --> 00:27:32,600 Speaker 1: such a low percentage of the vote. I think, like 481 00:27:32,840 --> 00:27:34,880 Speaker 1: a lot of cities, Chicago has gone through a lot 482 00:27:34,880 --> 00:27:39,080 Speaker 1: of challenges, crime being at the top of people's minds. 483 00:27:39,240 --> 00:27:43,359 Speaker 1: And with the runoff, there were nine different candidates, so 484 00:27:43,400 --> 00:27:47,240 Speaker 1: the vote was split in many different directions, and because 485 00:27:47,600 --> 00:27:50,520 Speaker 1: of the rule that of candidate has to either get 486 00:27:50,560 --> 00:27:53,920 Speaker 1: fifty percent to be declared the victor or there's a runoff. 487 00:27:54,160 --> 00:27:56,720 Speaker 1: I think there was just a lot of different people 488 00:27:56,800 --> 00:28:00,440 Speaker 1: campaigning in a lot of different ways, and vote had 489 00:28:00,480 --> 00:28:04,159 Speaker 1: to really pick between a lot of different candidates. Is 490 00:28:04,200 --> 00:28:06,560 Speaker 1: she going to endorse someone or did this go so 491 00:28:06,640 --> 00:28:10,119 Speaker 1: badly that there's not really someone in particular for her 492 00:28:10,160 --> 00:28:12,840 Speaker 1: hand to hand the baton off to. You know, I 493 00:28:12,880 --> 00:28:15,960 Speaker 1: don't know. We haven't really spoken with her related to 494 00:28:16,000 --> 00:28:19,840 Speaker 1: her endorsements. You know, that's to be seen in the 495 00:28:19,880 --> 00:28:24,000 Speaker 1: next few weeks. I guess, to see how people ally 496 00:28:24,160 --> 00:28:28,639 Speaker 1: together and where the voters go. Is there a favorite 497 00:28:28,680 --> 00:28:32,200 Speaker 1: between Paul Vallas and Brandon Johnson? I know Vallis got 498 00:28:32,240 --> 00:28:35,400 Speaker 1: the most in this initial round. That can be unpredictable. 499 00:28:35,640 --> 00:28:38,000 Speaker 1: It can we tell who is most likely to win 500 00:28:38,080 --> 00:28:40,600 Speaker 1: at this point? I think that's really tough to say 501 00:28:40,720 --> 00:28:45,840 Speaker 1: because they come from different perspectives and they have different 502 00:28:46,240 --> 00:28:49,840 Speaker 1: points of views on the different topics. So we're going 503 00:28:49,880 --> 00:28:53,480 Speaker 1: to have to see what coalitions they build. All right, 504 00:28:53,520 --> 00:28:55,920 Speaker 1: thank you so much, Shruthy saying let's bring in our panel. 505 00:28:56,240 --> 00:28:58,960 Speaker 1: Jeanie she and Zano and Rick Davis are Bloomberg Politics 506 00:28:58,960 --> 00:29:05,160 Speaker 1: contributors for more on this, Rick, we've heard crime COVID 507 00:29:05,240 --> 00:29:07,800 Speaker 1: was a challenge for a lot of mayors. Are we 508 00:29:08,040 --> 00:29:12,080 Speaker 1: leaving things out? What do you suspect did in Lori 509 00:29:12,280 --> 00:29:14,800 Speaker 1: lightfoot in her reelection campaign? You know, I think it 510 00:29:14,840 --> 00:29:17,760 Speaker 1: was kind of like the combination of all these issues 511 00:29:17,760 --> 00:29:19,960 Speaker 1: that you've described, and also fiscal problems that the city 512 00:29:20,080 --> 00:29:22,800 Speaker 1: was having, and a lot of companies were leaving. A 513 00:29:22,800 --> 00:29:27,560 Speaker 1: lot of narrative was created around the idea that businesses 514 00:29:27,600 --> 00:29:30,400 Speaker 1: were leaving Chicago, even though there's not a lot of 515 00:29:30,680 --> 00:29:36,479 Speaker 1: hard evidence that they were net employer negative. It became 516 00:29:36,520 --> 00:29:38,600 Speaker 1: sort of the thing that people believed in, and so 517 00:29:38,880 --> 00:29:42,719 Speaker 1: it was a city under distress. You mentioned the crime 518 00:29:43,160 --> 00:29:45,040 Speaker 1: that was in the news every single day, and she 519 00:29:45,080 --> 00:29:47,520 Speaker 1: just couldn't shake it off. There wasn't a good policy 520 00:29:47,560 --> 00:29:50,920 Speaker 1: in place that people felt was they could get comfortable 521 00:29:50,960 --> 00:29:53,360 Speaker 1: and confident behind that was going to fix the problem, 522 00:29:53,600 --> 00:29:56,560 Speaker 1: and she just ran out of time. And so you 523 00:29:56,600 --> 00:29:59,360 Speaker 1: see this in politics quite a bit, where so many 524 00:29:59,360 --> 00:30:01,880 Speaker 1: of these things sort of take root in the electorate 525 00:30:02,600 --> 00:30:05,280 Speaker 1: that it's hard to shake him loose and say no, no, 526 00:30:05,320 --> 00:30:07,840 Speaker 1: there's an optimistic point of view, we're actually getting over this. 527 00:30:08,400 --> 00:30:10,800 Speaker 1: She just didn't get over it soon enough. It was 528 00:30:11,560 --> 00:30:16,920 Speaker 1: a tough one for more progressive candidates. Lightfoot didn't do well. 529 00:30:17,400 --> 00:30:20,680 Speaker 1: Congressman Choy Garcia did not do well. He came in 530 00:30:20,760 --> 00:30:25,120 Speaker 1: fourth in this round. Jeanie, what are the takeaways for 531 00:30:25,160 --> 00:30:30,320 Speaker 1: the various wings of the Democratic Party. Based on these results, well, 532 00:30:30,360 --> 00:30:33,560 Speaker 1: this is such an important election in particular for Democrats 533 00:30:33,600 --> 00:30:36,320 Speaker 1: to look at. As you mentioned, there's takeaways for certain 534 00:30:36,360 --> 00:30:38,960 Speaker 1: segments of the party, but for the party overall, going 535 00:30:39,040 --> 00:30:41,800 Speaker 1: all the way up to the president. We can't forget that. 536 00:30:41,840 --> 00:30:44,280 Speaker 1: In the next few days, if not weak, Congress is 537 00:30:44,320 --> 00:30:47,720 Speaker 1: going to vote on this DC crime bill. If Republicans 538 00:30:47,720 --> 00:30:50,240 Speaker 1: are able to stop it, the president is in a 539 00:30:50,280 --> 00:30:54,120 Speaker 1: really difficult position. All of this having to do with crime. 540 00:30:54,400 --> 00:30:57,080 Speaker 1: And we've seen this over and over again. We saw 541 00:30:57,120 --> 00:30:58,960 Speaker 1: it in the New York City mayor's race with Eric 542 00:30:59,000 --> 00:31:02,040 Speaker 1: Adams winning. Crime was a big issue in twenty twenty two. 543 00:31:02,160 --> 00:31:04,760 Speaker 1: Joe Biden has tried to walk away from this idea 544 00:31:04,840 --> 00:31:08,240 Speaker 1: of defunding the police. Now you see Lorie light put out, 545 00:31:08,360 --> 00:31:11,920 Speaker 1: even though she's the first African American openly gay mayor there, 546 00:31:12,080 --> 00:31:15,200 Speaker 1: but the first incumbent mayor to lose in forty years, 547 00:31:15,240 --> 00:31:17,480 Speaker 1: And all of it has to do with crime. And 548 00:31:17,720 --> 00:31:20,800 Speaker 1: Rick was just talking about the economic challenges they're facing there, 549 00:31:20,800 --> 00:31:22,800 Speaker 1: but as you listen to what was going on in 550 00:31:22,840 --> 00:31:26,200 Speaker 1: the city press, they would relate everything to crime. Why 551 00:31:26,200 --> 00:31:29,520 Speaker 1: are businesses leaving crime? Why is wridership down in the 552 00:31:29,560 --> 00:31:32,680 Speaker 1: CTA crime So they've got to get their hand around 553 00:31:32,680 --> 00:31:35,080 Speaker 1: a message dealing with how to make these cities and 554 00:31:35,120 --> 00:31:38,840 Speaker 1: their communities safe. And so for Democrats, I think we 555 00:31:38,880 --> 00:31:42,240 Speaker 1: are going to see Joe Biden potentially if Republicans prevail 556 00:31:42,320 --> 00:31:44,480 Speaker 1: with the help of Joe Mansion and Fetterman out on 557 00:31:44,480 --> 00:31:47,080 Speaker 1: this DC crime bill, he might have to make a 558 00:31:47,160 --> 00:31:50,560 Speaker 1: really difficult choice there as it pertains to once again 559 00:31:50,640 --> 00:31:54,200 Speaker 1: shoring up his sort of moderate view that he is 560 00:31:54,240 --> 00:31:56,360 Speaker 1: going to be tough on crime and they're not going 561 00:31:56,360 --> 00:31:59,200 Speaker 1: to allow Republicans to paint them to the left on 562 00:31:59,240 --> 00:32:02,000 Speaker 1: this issue as they move into twenty four, because that's 563 00:32:02,040 --> 00:32:05,520 Speaker 1: something that Joe Biden has been serious about and Republicans 564 00:32:05,560 --> 00:32:08,720 Speaker 1: in these big cities. That's why we saw DeSantis going 565 00:32:08,760 --> 00:32:11,880 Speaker 1: to Chicago just the other day to make this very case. 566 00:32:11,920 --> 00:32:14,240 Speaker 1: So a big problem for Democrats as they moved to 567 00:32:14,280 --> 00:32:18,320 Speaker 1: twenty four. Well, speaking of who's around the country, who's 568 00:32:18,880 --> 00:32:21,280 Speaker 1: sort of doing the political analysis on this, I have 569 00:32:21,400 --> 00:32:24,480 Speaker 1: to ask you, as our New York or what does 570 00:32:24,520 --> 00:32:26,920 Speaker 1: this mean and what's the takeaway for Eric Adams? How 571 00:32:26,960 --> 00:32:29,560 Speaker 1: do you think Eric Adams is feeling watching this? You know, 572 00:32:29,720 --> 00:32:32,080 Speaker 1: Eric Adams won on a tough on crime message over 573 00:32:32,240 --> 00:32:37,080 Speaker 1: more progressive Democrats in the city, but quite frankly, Democrats 574 00:32:37,120 --> 00:32:39,920 Speaker 1: in the city and even you know Republicans everybody in 575 00:32:39,960 --> 00:32:42,320 Speaker 1: the city. They don't feel like he's done enough on crime. 576 00:32:42,640 --> 00:32:44,800 Speaker 1: And it almost doesn't have to deal with the crime 577 00:32:44,880 --> 00:32:48,720 Speaker 1: numbers themselves, because you look at Chicago, homicides down in 578 00:32:48,760 --> 00:32:52,160 Speaker 1: twenty two, but still people are feeling insecure. So I 579 00:32:52,200 --> 00:32:54,280 Speaker 1: think he is going to have to take the message 580 00:32:54,320 --> 00:32:56,479 Speaker 1: that he is going to have to show that he 581 00:32:56,640 --> 00:32:59,840 Speaker 1: is going to be hard on crime everywhere he finds 582 00:32:59,840 --> 00:33:02,680 Speaker 1: it and he is not going to be painted again 583 00:33:02,760 --> 00:33:05,760 Speaker 1: into this corner by progressives as you think about things 584 00:33:05,760 --> 00:33:10,600 Speaker 1: like mandatory minimums and allowing jury trials, maximum penalties decreasing 585 00:33:10,840 --> 00:33:12,840 Speaker 1: all of those things have sent a message in New 586 00:33:12,920 --> 00:33:16,120 Speaker 1: York and other cities to people that Democrats aren't serious 587 00:33:16,160 --> 00:33:18,920 Speaker 1: about making people safe in their communities. And it's the 588 00:33:18,960 --> 00:33:22,080 Speaker 1: Democratic base that's feeling most unsafe in a place like 589 00:33:22,160 --> 00:33:24,640 Speaker 1: New York. That's why they didn't get out and that's 590 00:33:24,640 --> 00:33:27,040 Speaker 1: why Republicans held the House in New York State. Not 591 00:33:27,120 --> 00:33:30,120 Speaker 1: just to mention New York City, Rick I would real quick, 592 00:33:30,120 --> 00:33:33,040 Speaker 1: I would note the Chicago Fraternal Order of the Police 593 00:33:33,040 --> 00:33:36,880 Speaker 1: have endorsed Vallis. Johnson is backed by the Chicago Teachers Union. 594 00:33:36,960 --> 00:33:39,920 Speaker 1: Is this basically a fight between the police and the 595 00:33:39,920 --> 00:33:42,840 Speaker 1: teachers union going forward between these candidates. Yeah, it looks 596 00:33:42,880 --> 00:33:45,320 Speaker 1: like that's the choice you're going to get, and it'll 597 00:33:45,320 --> 00:33:48,600 Speaker 1: be interesting to see how that prevails, because, as you've 598 00:33:48,640 --> 00:33:52,160 Speaker 1: discussed earlier, this was a multi candidate field. The election 599 00:33:52,280 --> 00:33:55,280 Speaker 1: got spread out quite a bit, and there's no clearer 600 00:33:55,360 --> 00:34:00,800 Speaker 1: sense is to who the losers voters are going to 601 00:34:01,040 --> 00:34:03,400 Speaker 1: gravitate towards. So we're going to see I think a 602 00:34:03,440 --> 00:34:06,600 Speaker 1: real Rockham Soockem election there. Coming up, it's another round, 603 00:34:06,680 --> 00:34:09,719 Speaker 1: it's a runoff. This was just round one. We're gonna 604 00:34:09,760 --> 00:34:12,640 Speaker 1: keep going with the panel. Coming up Jeanie Shenzano and 605 00:34:12,719 --> 00:34:16,719 Speaker 1: Rick Davis to talk about twenty years since the creation 606 00:34:16,800 --> 00:34:19,320 Speaker 1: of the Department of Homeland Security and speaking of budget issues, 607 00:34:19,320 --> 00:34:22,440 Speaker 1: the President spoke about that today, saying he wants an 608 00:34:22,480 --> 00:34:27,480 Speaker 1: increase in funding for that agency. We'll discuss what that 609 00:34:27,560 --> 00:34:31,320 Speaker 1: has meant really since nine to eleven. I'm Jack Fitzpatrick. 610 00:34:31,560 --> 00:34:40,400 Speaker 1: This is Bloomberg. You're listening to the Bloomberg Sound on podcast. 611 00:34:40,760 --> 00:34:44,000 Speaker 1: Catch the program live weekdays at five pm Easter on 612 00:34:44,040 --> 00:34:47,319 Speaker 1: Bloomberg Radio, the tuning app, Bloomberg dot Com, and the 613 00:34:47,360 --> 00:34:50,720 Speaker 1: Bloomberg Business App. You can also listen live on Amazon 614 00:34:50,760 --> 00:34:54,360 Speaker 1: Alexa from our flagship New York station, Just say Alexa 615 00:34:54,600 --> 00:35:00,640 Speaker 1: Play Bloomberg eleven thirty. President Biden spoke today Department of 616 00:35:00,680 --> 00:35:05,040 Speaker 1: Homeland Security employees about the twenty year anniversary of the department. 617 00:35:05,520 --> 00:35:07,720 Speaker 1: Among other things, he said he wants a funding increase 618 00:35:07,760 --> 00:35:10,040 Speaker 1: for the department. Here's what he had to say. I'm 619 00:35:10,080 --> 00:35:12,600 Speaker 1: gonna keep making sure you have the resources you need 620 00:35:12,640 --> 00:35:16,040 Speaker 1: to do the job because your job is so expensive 621 00:35:16,120 --> 00:35:20,240 Speaker 1: across the board. In fact, I was able to secure 622 00:35:20,239 --> 00:35:23,680 Speaker 1: a record funding for DHS, and I'm asking Congress to 623 00:35:23,719 --> 00:35:29,440 Speaker 1: do more. I'm Jack Fitzpatrick here with our Bloomberg Politics 624 00:35:29,480 --> 00:35:33,560 Speaker 1: contributors Jeanie she and Zano and Rick Davis. Guys. My 625 00:35:33,719 --> 00:35:37,440 Speaker 1: Bloomberg Government colleague Ellen Gilmer had a really good story 626 00:35:37,840 --> 00:35:43,400 Speaker 1: yesterday interviewing Mark Greene, who's the new House Homeland Security Chairman, 627 00:35:43,600 --> 00:35:48,200 Speaker 1: who wants to reauthorize and reorganize the department. I know 628 00:35:48,239 --> 00:35:51,799 Speaker 1: that because it's a big department, especially there's been talk 629 00:35:51,920 --> 00:35:58,400 Speaker 1: sometime about sometimes about this covers responsibilities and immigration, border security, 630 00:35:58,920 --> 00:36:04,160 Speaker 1: anti terrorism duties, the TSA, Natural disasters. Rick, I'm curious 631 00:36:04,480 --> 00:36:09,160 Speaker 1: twenty years in how you greed the structure of the 632 00:36:09,200 --> 00:36:13,359 Speaker 1: Department of Homeland Security. Yeah, it's a behemoth, as you describe, Jack, 633 00:36:13,400 --> 00:36:16,440 Speaker 1: And I was around when Senator John McCain was one 634 00:36:16,480 --> 00:36:20,879 Speaker 1: of the really active senators to put together all these 635 00:36:20,920 --> 00:36:24,279 Speaker 1: different pieces of the agency. And at that time, of course, 636 00:36:24,320 --> 00:36:26,879 Speaker 1: it's post nine to eleven. The country felt like they 637 00:36:26,880 --> 00:36:30,080 Speaker 1: were under siege by terrorist activity all around the world. 638 00:36:30,120 --> 00:36:32,440 Speaker 1: And and it was to make it big, and make 639 00:36:32,480 --> 00:36:36,280 Speaker 1: it strong and make it effective. And you know, after 640 00:36:36,320 --> 00:36:38,800 Speaker 1: twenty years, it would be interesting to see a thorough 641 00:36:39,480 --> 00:36:41,880 Speaker 1: valuation of the agency. And I think if it certainly 642 00:36:41,880 --> 00:36:46,279 Speaker 1: congresses oversight responsibility to do so. But once you start 643 00:36:46,280 --> 00:36:48,719 Speaker 1: meddling in it, I mean, now it's it's yours. You know, 644 00:36:48,800 --> 00:36:51,759 Speaker 1: you break it, you own it. And uh, and I'm 645 00:36:51,840 --> 00:36:53,520 Speaker 1: not sure i'd want to be the member of Congress 646 00:36:53,560 --> 00:36:56,320 Speaker 1: who tries to reorganize this behemoth. I mean, it is massive, 647 00:36:56,800 --> 00:36:59,839 Speaker 1: and it's wrought with problems it addresses. Some of them 648 00:37:00,040 --> 00:37:04,080 Speaker 1: are difficult issues in our country. As you described, immigration 649 00:37:04,160 --> 00:37:07,640 Speaker 1: and customs and many things associated with law enforcement and 650 00:37:08,080 --> 00:37:13,280 Speaker 1: keeping our country safe. So it is a incredible accomplishment 651 00:37:13,640 --> 00:37:16,600 Speaker 1: by government because our country has been safe as a result, 652 00:37:17,000 --> 00:37:19,239 Speaker 1: and so they have a good track record in that 653 00:37:19,480 --> 00:37:24,320 Speaker 1: most important category. But sure, congressional oversight has definitely something 654 00:37:24,360 --> 00:37:27,520 Speaker 1: to do. I would note a good quote from this 655 00:37:27,600 --> 00:37:30,480 Speaker 1: story by Congressman Mark Green, who wants to get into 656 00:37:30,520 --> 00:37:34,880 Speaker 1: this quote will Lean six sigma the whole thing out. Genie, 657 00:37:34,920 --> 00:37:38,560 Speaker 1: I'm curious do you see, especially in this Congress, do 658 00:37:38,640 --> 00:37:42,840 Speaker 1: you see a willingness and ability to get into big 659 00:37:42,920 --> 00:37:46,279 Speaker 1: questions about the organization and the functioning of something like 660 00:37:46,320 --> 00:37:49,279 Speaker 1: the Department of Homeland Security. Now, I don't think they're 661 00:37:49,280 --> 00:37:51,480 Speaker 1: going to be redesigning it in the next year. I 662 00:37:51,520 --> 00:37:54,359 Speaker 1: mean many people have asked about DHS twenty years later. 663 00:37:54,560 --> 00:37:57,400 Speaker 1: Was it designed to fail? It has an important mission 664 00:37:57,440 --> 00:37:59,360 Speaker 1: to secure the homeland, as you and Rick were just 665 00:37:59,400 --> 00:38:01,840 Speaker 1: talking about. But the question is not the mission. The 666 00:38:01,920 --> 00:38:04,919 Speaker 1: question is the way it's been structured. Is it being 667 00:38:04,920 --> 00:38:07,400 Speaker 1: asked to run in too many different directions and so 668 00:38:07,480 --> 00:38:10,600 Speaker 1: it can't run anywhere successfully? I think it has been 669 00:38:10,680 --> 00:38:13,160 Speaker 1: successful in a lot of ways. It does need to 670 00:38:13,200 --> 00:38:16,840 Speaker 1: be re examined and reorganized. I'm not convinced Congress is 671 00:38:16,840 --> 00:38:18,680 Speaker 1: going to be the place to do that this year 672 00:38:18,719 --> 00:38:22,120 Speaker 1: as we run into twenty four. Though on a lighter note, 673 00:38:22,160 --> 00:38:25,960 Speaker 1: I would point out, as we're talking about anniversaries twenty 674 00:38:26,040 --> 00:38:29,760 Speaker 1: years of the Department of Homeland Security, fifty years today 675 00:38:29,960 --> 00:38:33,160 Speaker 1: since Pink Floyd's Dark Side of the Moon came out. 676 00:38:33,840 --> 00:38:36,520 Speaker 1: We do talk about money a lot at Bloomberg. We 677 00:38:36,600 --> 00:38:39,520 Speaker 1: usually don't do it in seven four time, So we're 678 00:38:39,520 --> 00:38:41,839 Speaker 1: going to leave you with this at the end. Thank 679 00:38:41,880 --> 00:38:45,080 Speaker 1: you again to our guests. Congressman Brendan Boyle, the top 680 00:38:45,120 --> 00:38:47,680 Speaker 1: Democrat on the House Budget Committee, a little back and 681 00:38:47,719 --> 00:38:51,720 Speaker 1: forth between him today and the chairman Jody Arrington yesterday 682 00:38:51,719 --> 00:38:55,760 Speaker 1: on whether they're really making progress in discussions about the deafloment. 683 00:38:55,920 --> 00:38:59,560 Speaker 1: And of course Jeanie Sheenzano and Rick Davis and TRUTHI 684 00:38:59,680 --> 00:39:02,880 Speaker 1: singh out of our Chicago bureau. I'm Jack, this Patrick, 685 00:39:03,239 --> 00:39:09,560 Speaker 1: this is Bloomberg. Okay, money