1 00:00:00,360 --> 00:00:03,320 Speaker 1: Live from our nation's camera. All talk here in Washington, 2 00:00:03,400 --> 00:00:07,160 Speaker 1: d C turns to President elect Joe Biden's administration, historically 3 00:00:07,160 --> 00:00:09,920 Speaker 1: speaking the markets that performed better when there is divided government. 4 00:00:10,080 --> 00:00:13,840 Speaker 1: The biggest pressure for physical stimulus is an up taking cases. 5 00:00:13,920 --> 00:00:18,960 Speaker 1: Bloomberg Sound on, the insiders, the influencers, the inside. Biden 6 00:00:19,000 --> 00:00:22,760 Speaker 1: has Thomas again and again. He will unite the country's seat, 7 00:00:22,800 --> 00:00:25,800 Speaker 1: government's control elections as in the constitution. I think that 8 00:00:25,840 --> 00:00:30,240 Speaker 1: we can expect a smooth, thoughtful, methodical transition. This is 9 00:00:30,280 --> 00:00:35,720 Speaker 1: Bloomberg Sound on with Kevin Shirley on Bloomberg and one 10 00:00:35,760 --> 00:00:38,400 Speaker 1: oh five point seven f m h D two, Day 11 00:00:38,400 --> 00:00:42,800 Speaker 1: one of Joe Biden's Washington d C. The President elect 12 00:00:42,880 --> 00:00:46,400 Speaker 1: prepares his team. This is he gives a new Coronavirus 13 00:00:46,600 --> 00:00:50,800 Speaker 1: Task Force briefing, plus Fiser news all about Fiser, the economy, 14 00:00:50,840 --> 00:00:54,400 Speaker 1: what's going on with the vaccination front. We have a complete, complete, 15 00:00:54,680 --> 00:01:00,200 Speaker 1: uh complete show. There's the word, keV. I'm called up 16 00:01:00,200 --> 00:01:03,280 Speaker 1: on street on sleep joining us on the line. Tom Perez, 17 00:01:03,400 --> 00:01:09,160 Speaker 1: Chairman of the Democratic National Committee. Mr Chairman, Congratulations, Oh 18 00:01:09,160 --> 00:01:12,200 Speaker 1: thank you, Kevin. I think this is great for the nation, 19 00:01:12,280 --> 00:01:16,120 Speaker 1: great for all families. Dealing with coronavirus and the economic fallout, 20 00:01:16,160 --> 00:01:19,840 Speaker 1: and the President elect, as you said earlier, is getting 21 00:01:19,959 --> 00:01:23,840 Speaker 1: right to work dealing with the crises of the moment. Well, 22 00:01:23,880 --> 00:01:26,680 Speaker 1: I want to play for you what President elect Joe Biden, 23 00:01:26,680 --> 00:01:29,920 Speaker 1: who made his first announcements on the Biden Harris Coronavirus 24 00:01:29,959 --> 00:01:33,760 Speaker 1: Task Force earlier today. He spoke from the Queen Theater 25 00:01:33,880 --> 00:01:37,720 Speaker 1: in Wilmington, Delaware. Take a listen to President Elect Joe Biden. 26 00:01:38,319 --> 00:01:41,960 Speaker 1: I will spare no effort to turn this pandemic around 27 00:01:42,360 --> 00:01:45,640 Speaker 1: once we're sworn in in January twenty, to get our 28 00:01:45,720 --> 00:01:49,560 Speaker 1: kids back to school safely, our business is growing and 29 00:01:49,640 --> 00:01:52,640 Speaker 1: our economy running in full speed again. And to get 30 00:01:52,640 --> 00:01:56,840 Speaker 1: an approved vaccine manufactured and distributed as quickly as possible 31 00:01:57,120 --> 00:02:02,320 Speaker 1: to as many Americans as possible. And Chairman Perez Eric Wasson, 32 00:02:02,360 --> 00:02:06,240 Speaker 1: my colleague reports on the Bloomberg terminal that meanwhile, you've 33 00:02:06,280 --> 00:02:09,680 Speaker 1: got this news that Fiser has a vaccine that has 34 00:02:09,720 --> 00:02:15,680 Speaker 1: an approval. But just as that major development comes, Senate 35 00:02:15,720 --> 00:02:19,280 Speaker 1: Majority Leader Mitch McConnell said that Congress should pass a 36 00:02:19,360 --> 00:02:23,360 Speaker 1: limited stimulus bill before the end of in the wake 37 00:02:23,480 --> 00:02:29,680 Speaker 1: of encouraging data on that specific vaccine. Uh. It shows 38 00:02:29,919 --> 00:02:34,280 Speaker 1: our more opposition and divide on stimulus even in wake 39 00:02:34,320 --> 00:02:39,520 Speaker 1: of this vaccine and the remarks from the President elect. Oh, 40 00:02:39,760 --> 00:02:44,200 Speaker 1: it's time for UM folks on the other side of 41 00:02:44,240 --> 00:02:48,280 Speaker 1: the aisle of knowledge. And I appreciate UM. Senator Collins, 42 00:02:48,720 --> 00:02:53,520 Speaker 1: Senator Romney, UM, former President Bush and others who have 43 00:02:53,600 --> 00:02:56,359 Speaker 1: now who have a knowledge that Gary co' going to 44 00:02:56,400 --> 00:03:00,359 Speaker 1: be the next president. Yeah, so many others who have 45 00:03:00,440 --> 00:03:03,160 Speaker 1: acknowledged that Joe Briden won the election, and he won 46 00:03:03,200 --> 00:03:06,919 Speaker 1: at fair and square period. UH. And it's a decisive wind. 47 00:03:07,360 --> 00:03:09,960 Speaker 1: It's margin. I think when all the votes are counted, 48 00:03:10,000 --> 00:03:12,760 Speaker 1: it's going to end up being pretty close to Barack 49 00:03:12,760 --> 00:03:16,959 Speaker 1: Obama's margin in UH. This is the fourth time, only 50 00:03:17,000 --> 00:03:21,359 Speaker 1: the fourth time since I think that an incumbent elected 51 00:03:22,040 --> 00:03:28,240 Speaker 1: president has been defeated in UH in a re elected effort. Uh. 52 00:03:28,400 --> 00:03:32,720 Speaker 1: So this is a remarkable and decisive victory. And what 53 00:03:32,840 --> 00:03:36,080 Speaker 1: people want is a leader who's going to deliver results 54 00:03:36,120 --> 00:03:38,480 Speaker 1: on the challenges that matter most. And that's why you 55 00:03:38,520 --> 00:03:43,040 Speaker 1: saw the President elect right to work today on the coronavirus. 56 00:03:43,240 --> 00:03:46,480 Speaker 1: We should have had a stimulus bill months ago, and 57 00:03:46,520 --> 00:03:50,080 Speaker 1: as you know, the Democrats passed the stimulus Bill, the 58 00:03:50,360 --> 00:03:53,280 Speaker 1: second Stimulus Bill, the Heroes Act. I think now over 59 00:03:53,400 --> 00:03:58,480 Speaker 1: six months ago. Uh, and Mitch McConnell is still uh 60 00:03:58,520 --> 00:04:03,560 Speaker 1: playing the the slowdown game. That is uh not what 61 00:04:03,640 --> 00:04:08,160 Speaker 1: the American people need. We will I'm heartened about the 62 00:04:08,240 --> 00:04:11,800 Speaker 1: news from Fiser, but we know it will take time. 63 00:04:12,160 --> 00:04:16,279 Speaker 1: And uh, so many families don't have the luxury of 64 00:04:16,360 --> 00:04:18,720 Speaker 1: time right now. And that's why the Vice President's game 65 00:04:18,839 --> 00:04:24,320 Speaker 1: right to work. I hope that Leader McConnell will actually 66 00:04:24,360 --> 00:04:27,880 Speaker 1: come to the table in good faith. In past presidencies, 67 00:04:27,920 --> 00:04:31,120 Speaker 1: you get the president himself to come to the table 68 00:04:31,480 --> 00:04:33,960 Speaker 1: when you had situations like this. But you know this 69 00:04:34,160 --> 00:04:36,960 Speaker 1: president basically at the golf course. I want to I 70 00:04:37,000 --> 00:04:39,280 Speaker 1: want to get you to respond. I want to get 71 00:04:39,279 --> 00:04:41,760 Speaker 1: your true respond to to what Leader McConnell said earlier 72 00:04:41,800 --> 00:04:45,040 Speaker 1: today about the President not conceding. Here here's Leader McConnell. 73 00:04:45,520 --> 00:04:48,960 Speaker 1: We have the system in place to consider concerns and 74 00:04:49,080 --> 00:04:54,279 Speaker 1: President Trump is within his rights to look into allegations 75 00:04:54,279 --> 00:05:00,200 Speaker 1: of irregularities and way his legal options and and we 76 00:05:00,240 --> 00:05:03,040 Speaker 1: actually have some more so here here here's McConnell. Again, 77 00:05:03,560 --> 00:05:06,520 Speaker 1: let's not have any lecturers, no lectures about how the 78 00:05:06,560 --> 00:05:12,160 Speaker 1: President should immediately cheerfully except preliminary election results from the 79 00:05:12,200 --> 00:05:15,360 Speaker 1: same characters who just spent four years refusing to accept 80 00:05:15,400 --> 00:05:18,120 Speaker 1: the politity of the last election. Great jobs from our 81 00:05:18,160 --> 00:05:20,760 Speaker 1: executive producer, Christine Barani for pulling that sound so quickly. 82 00:05:20,760 --> 00:05:24,120 Speaker 1: Tomper as your response, Chairman of the d n C, Well, 83 00:05:24,520 --> 00:05:27,039 Speaker 1: we're not asking We're not asking someone to be happy 84 00:05:27,160 --> 00:05:30,640 Speaker 1: or said, We're asking someone to acknowledge the reality. And 85 00:05:30,680 --> 00:05:34,880 Speaker 1: the reality is that Joe Biden is millions of votes ahead. 86 00:05:35,360 --> 00:05:38,520 Speaker 1: Look at what Scott Walker said in Wisconsin. Scott Walker 87 00:05:38,720 --> 00:05:42,200 Speaker 1: is the former Republican governor. He correctly pointed out that 88 00:05:42,240 --> 00:05:46,000 Speaker 1: there have been two recounts in Wisconsin over the past 89 00:05:46,040 --> 00:05:50,920 Speaker 1: ten years in various races, including in and those recounts 90 00:05:51,000 --> 00:05:53,920 Speaker 1: move the needles somewhere between one hundred and two hundred 91 00:05:53,920 --> 00:05:57,719 Speaker 1: and fifty votes. That's not enough. We need to get 92 00:05:57,760 --> 00:06:01,719 Speaker 1: to work on the serious problems confront in America. Uh. 93 00:06:01,760 --> 00:06:05,240 Speaker 1: Donald Trump was a sore winner in sen so it 94 00:06:05,240 --> 00:06:08,960 Speaker 1: shouldn't surprise anyone that he is a sore loser. Now. 95 00:06:09,040 --> 00:06:11,760 Speaker 1: You can weigh his legal options, but we need to 96 00:06:11,920 --> 00:06:14,719 Speaker 1: look at the reality right now. The reality is that 97 00:06:14,839 --> 00:06:16,880 Speaker 1: Joe Biden one and we've got a lot of work 98 00:06:16,920 --> 00:06:19,800 Speaker 1: to do. So I hope that Leader McConnell will come 99 00:06:19,880 --> 00:06:25,840 Speaker 1: to the table with the President elect, with UH Speaker 100 00:06:25,920 --> 00:06:28,400 Speaker 1: Pelosi so we can get to work, roll up our 101 00:06:28,440 --> 00:06:31,440 Speaker 1: sleeves and address the pandemic. It's getting worse, not better. 102 00:06:31,720 --> 00:06:33,360 Speaker 1: I only have two more minutes with you, and I'm 103 00:06:33,400 --> 00:06:35,760 Speaker 1: so grateful that you're kicking off the show for me today. 104 00:06:35,760 --> 00:06:37,480 Speaker 1: So I just want to get these two questions quickly 105 00:06:37,480 --> 00:06:40,120 Speaker 1: because I spoke with a source earlier this afternoon who 106 00:06:40,200 --> 00:06:43,120 Speaker 1: told me that really this is all about Georgia for 107 00:06:43,160 --> 00:06:46,440 Speaker 1: the Republicans, and that the president not conceding is all 108 00:06:46,480 --> 00:06:48,839 Speaker 1: about trying to get the base out in Georgia on 109 00:06:48,960 --> 00:06:56,720 Speaker 1: January five. Well, I mean it's really um putting a 110 00:06:56,839 --> 00:07:00,360 Speaker 1: political interest if that's the case, ahead of the national interests. 111 00:07:00,400 --> 00:07:02,599 Speaker 1: I mean, this is what we are in the middle 112 00:07:02,640 --> 00:07:06,359 Speaker 1: of a pandemic. We just crossed a ten million case 113 00:07:06,680 --> 00:07:10,880 Speaker 1: threshold today. We have healthcare on the docket of the 114 00:07:10,960 --> 00:07:15,240 Speaker 1: United States Supreme Court tomorrow. Kevin Republicans want to do 115 00:07:15,480 --> 00:07:18,520 Speaker 1: away with coverage for people with pre existing conditions. What 116 00:07:18,600 --> 00:07:21,280 Speaker 1: I'm here to tell the voters of Georgia is there's 117 00:07:21,400 --> 00:07:24,480 Speaker 1: one set of candidates who want to protect your healthcare, 118 00:07:24,560 --> 00:07:26,480 Speaker 1: and there's another set of candidates who want to do 119 00:07:26,520 --> 00:07:29,240 Speaker 1: away with your healthcare. That's what we're gonna be talking 120 00:07:29,280 --> 00:07:31,800 Speaker 1: about in Georgia. And we should get to work on 121 00:07:31,920 --> 00:07:34,920 Speaker 1: a stimulus package to help people who have lost their 122 00:07:34,960 --> 00:07:37,680 Speaker 1: loved ones. They've lost their jobs and frankly, they're losing 123 00:07:37,720 --> 00:07:40,440 Speaker 1: hope and they've lost patients, and they are right to 124 00:07:40,480 --> 00:07:43,680 Speaker 1: have lost patience in the Republican failure to come to 125 00:07:43,720 --> 00:07:46,440 Speaker 1: the table. Chairman Press, I gotta ask you this last question. 126 00:07:47,000 --> 00:07:49,680 Speaker 1: Would you go into the administration? Could we see would 127 00:07:49,680 --> 00:07:51,600 Speaker 1: would you go back? I mean, obviously you've served in 128 00:07:51,640 --> 00:07:54,040 Speaker 1: the Countinet before, but would is that something you're interested? 129 00:07:54,080 --> 00:07:57,600 Speaker 1: I gotta ask. I gotta ask. Don't shoot the messenger, Kevin, 130 00:07:57,760 --> 00:08:01,400 Speaker 1: I have given literally zero that for the following reason. 131 00:08:01,920 --> 00:08:05,680 Speaker 1: We need to win election. And when people you want 132 00:08:05,800 --> 00:08:09,200 Speaker 1: thinking ahead, when we haven't finished we have, we have 133 00:08:09,720 --> 00:08:13,720 Speaker 1: the Senate to look out for in uh two months 134 00:08:13,720 --> 00:08:16,040 Speaker 1: here or less than two months, and and that is 135 00:08:16,080 --> 00:08:20,120 Speaker 1: where my singular focus is. So this ain't about Tom Perez. 136 00:08:20,200 --> 00:08:23,120 Speaker 1: This is about our democracy and making sure that we 137 00:08:23,160 --> 00:08:26,920 Speaker 1: can win the Senate. Alright, Chairman som Perez, chairman of 138 00:08:26,960 --> 00:08:29,640 Speaker 1: the Democratic National Committee. What did you What was when 139 00:08:29,640 --> 00:08:31,360 Speaker 1: you when you got the result? I only have like 140 00:08:31,440 --> 00:08:33,640 Speaker 1: thirty seconds up, but did you what did you do? 141 00:08:33,720 --> 00:08:35,840 Speaker 1: Did you have pizza? Did you have a drink? What 142 00:08:35,880 --> 00:08:37,960 Speaker 1: does the chairman of the Democratic Party do when the 143 00:08:37,960 --> 00:08:43,199 Speaker 1: results come in? I prayed. I was praying for the 144 00:08:44,679 --> 00:08:50,280 Speaker 1: hum I know so many dreamers who were quite literally 145 00:08:50,360 --> 00:08:53,959 Speaker 1: on the ballot, and I prayed and thanksgiving that they 146 00:08:54,000 --> 00:08:56,719 Speaker 1: will have hope. That's what I did. Quite honestly, we 147 00:08:56,760 --> 00:08:58,080 Speaker 1: should not ite and you and you and I have 148 00:08:58,080 --> 00:09:00,720 Speaker 1: talked about this offline. I mean, is an elect Joe 149 00:09:00,800 --> 00:09:04,559 Speaker 1: Biden is only the second Catholic president in America's history, 150 00:09:04,679 --> 00:09:07,680 Speaker 1: and and for Catholics of all political stripes, that speech 151 00:09:07,679 --> 00:09:10,560 Speaker 1: when he quoted on Eagles wings, I mean, if you're Catholic, 152 00:09:10,640 --> 00:09:13,680 Speaker 1: that song is famous. I mean, it is a very 153 00:09:13,720 --> 00:09:16,839 Speaker 1: famous famous him. I will I will tell you one 154 00:09:16,960 --> 00:09:19,240 Speaker 1: more thing. I know you're you're you have no more time. 155 00:09:19,320 --> 00:09:22,920 Speaker 1: The person who wrote that song performed that song at 156 00:09:22,960 --> 00:09:27,040 Speaker 1: my wife and my wedding two years ago. Who wrote it, 157 00:09:27,360 --> 00:09:32,960 Speaker 1: Dan Shooting. He was a former Jesuit. He was a Jesuit. Uh. 158 00:09:33,160 --> 00:09:38,199 Speaker 1: Now that he didn't. He left. They played it. They 159 00:09:38,200 --> 00:09:40,400 Speaker 1: played it at my late grandmother Mimi's funeral, So it's 160 00:09:40,400 --> 00:09:43,120 Speaker 1: a it's a hugely, hugely catholic famous him. All Right, Tompers, 161 00:09:43,280 --> 00:09:45,040 Speaker 1: I'm out of time. Thank you so much, sir for 162 00:09:45,080 --> 00:09:47,120 Speaker 1: your time. Coming up next, more policy and politics. I'm 163 00:09:47,160 --> 00:09:54,640 Speaker 1: Kevin Surreley. This is Bloomberg. This is Bloomberg Sound On 164 00:09:54,960 --> 00:09:59,320 Speaker 1: with Kevin Surley on Bloomberg and one oh five point 165 00:09:59,400 --> 00:10:01,959 Speaker 1: seven of m h D two. We're gonna touch on 166 00:10:02,720 --> 00:10:05,120 Speaker 1: what's going on at the Pentagon as well, with Secretary 167 00:10:05,160 --> 00:10:08,200 Speaker 1: of Defense Esper being fired today. We'll get to that, 168 00:10:08,320 --> 00:10:11,800 Speaker 1: I promise. It was a busy newsday folks in Washington, 169 00:10:11,880 --> 00:10:14,560 Speaker 1: d C. Plus the reports that President Trump is still 170 00:10:14,600 --> 00:10:18,000 Speaker 1: going to hold rallies potentially even in Georgia. We'll get 171 00:10:18,000 --> 00:10:22,400 Speaker 1: to the political analysis on that front as well in 172 00:10:22,440 --> 00:10:25,520 Speaker 1: the next hour with a Doug High and Kenja Barkoff 173 00:10:25,640 --> 00:10:29,480 Speaker 1: lamy Um, who is the former press secretary to now 174 00:10:29,520 --> 00:10:33,040 Speaker 1: President elect Joe Biden Um and of course she's also 175 00:10:33,080 --> 00:10:35,520 Speaker 1: worked for Senators Bob Casey and Dick Durbin, so we've 176 00:10:35,520 --> 00:10:37,920 Speaker 1: got a great, great panel. Doug High, of course an 177 00:10:37,920 --> 00:10:40,840 Speaker 1: insider for Governor Hogan. Uh, that's in the next hour, 178 00:10:40,880 --> 00:10:43,120 Speaker 1: But we gotta start with the markets because stacks paired 179 00:10:43,160 --> 00:10:47,160 Speaker 1: gains on concern that lawmakers will pass a smaller stimulus 180 00:10:47,200 --> 00:10:51,640 Speaker 1: package after encouraging developments on the coronavirus vaccine front. I'd 181 00:10:51,679 --> 00:10:54,959 Speaker 1: mentioned this earlier, but set A Majority leader Mitch McConnell 182 00:10:54,960 --> 00:10:57,760 Speaker 1: came out and said that the positive developments from Fiser 183 00:10:58,679 --> 00:11:02,000 Speaker 1: could actually press them to a lower stimulus front because 184 00:11:02,040 --> 00:11:05,560 Speaker 1: they feel that if the vaccine is effective that less 185 00:11:05,640 --> 00:11:09,040 Speaker 1: financial assistance will be needed. The SMP five hundred moved 186 00:11:09,040 --> 00:11:12,360 Speaker 1: away from record levels after Senate Majority leader McConnell said 187 00:11:12,400 --> 00:11:15,400 Speaker 1: Congress should pass only a limited bill before the end 188 00:11:15,679 --> 00:11:20,040 Speaker 1: of twenty twenty. Meanwhile, the Fed Reserved warren sorry, let me, 189 00:11:20,280 --> 00:11:25,040 Speaker 1: let's go back. Meanwhile, the Federal Reserve warned that asset 190 00:11:25,160 --> 00:11:27,840 Speaker 1: prices in key markets could take a hit if the 191 00:11:27,840 --> 00:11:33,600 Speaker 1: pandemics economic impact worsens incoming months. The benchmark gage still 192 00:11:33,679 --> 00:11:38,160 Speaker 1: closed down at a two month high amid strong trading volume. 193 00:11:38,240 --> 00:11:42,280 Speaker 1: On news the COVID nineteen shots being developed by Fiser 194 00:11:42,400 --> 00:11:47,800 Speaker 1: and bio by an Attech, prevented over of infections that 195 00:11:47,840 --> 00:11:50,720 Speaker 1: Astact one hundred fell amid a sell off in giants 196 00:11:50,720 --> 00:11:54,600 Speaker 1: such as Amazon and Netflix, highlighting the rotation from big tech, 197 00:11:55,000 --> 00:11:58,080 Speaker 1: and equal weight measure of the SMP five hundred had 198 00:11:58,120 --> 00:12:02,960 Speaker 1: its best day ever relative to the cap waited index. 199 00:12:03,040 --> 00:12:06,760 Speaker 1: I am tongue tied today by on tech. I cannot. 200 00:12:07,400 --> 00:12:09,480 Speaker 1: I think I need some more rest. I think I 201 00:12:09,559 --> 00:12:11,920 Speaker 1: need some more from us. All right, let's take a 202 00:12:11,960 --> 00:12:17,120 Speaker 1: listen to the New York Stock Exchange President Stacy Cunningham, 203 00:12:17,200 --> 00:12:20,960 Speaker 1: who spoke to Bloomberg earlier about the market action today. 204 00:12:21,000 --> 00:12:24,559 Speaker 1: Here she is. The big takeaway there was the market 205 00:12:24,679 --> 00:12:27,400 Speaker 1: was reacting to the view that the election was resolved, 206 00:12:27,440 --> 00:12:29,960 Speaker 1: and so that uncertainty and being able to move on 207 00:12:30,080 --> 00:12:33,760 Speaker 1: is certainly positive with respect to market reactions and having 208 00:12:33,800 --> 00:12:36,800 Speaker 1: that clarity. So that's that has been well received by 209 00:12:36,840 --> 00:12:39,640 Speaker 1: the market so far. And I want to bring in 210 00:12:39,679 --> 00:12:42,960 Speaker 1: now Ed Stringham, who is president of the American Institute 211 00:12:43,240 --> 00:12:46,280 Speaker 1: for Economic Research and he is also a professor of 212 00:12:46,320 --> 00:12:52,600 Speaker 1: Economic Organizations and Innovation at Trinity College. Hey, Ed visor 213 00:12:53,040 --> 00:12:58,440 Speaker 1: making moves on the market with McDonald. Yeah, it's quite 214 00:12:58,600 --> 00:13:04,240 Speaker 1: mping to see the Dow up by three today. Just 215 00:13:04,720 --> 00:13:06,920 Speaker 1: I think a lot of people are really happy that 216 00:13:07,960 --> 00:13:10,800 Speaker 1: there's not going to be some of this maybe political 217 00:13:10,880 --> 00:13:15,559 Speaker 1: turmoil that was potentially going to be clouding investors, and 218 00:13:16,000 --> 00:13:20,120 Speaker 1: I think people just like certainty and to see that 219 00:13:20,120 --> 00:13:25,720 Speaker 1: that the vaccine might help reopen the market again, I 220 00:13:25,720 --> 00:13:29,160 Speaker 1: think that's another great sign for people to be looking at. 221 00:13:29,280 --> 00:13:32,640 Speaker 1: So right now we've got record stock prices and I 222 00:13:32,679 --> 00:13:35,160 Speaker 1: think that's a good sign for the future, you know, 223 00:13:35,280 --> 00:13:38,400 Speaker 1: in terms of where the stimulus talks go, because here 224 00:13:38,400 --> 00:13:41,120 Speaker 1: in Washington, DC, that's all really anybody cares about. For 225 00:13:41,240 --> 00:13:44,560 Speaker 1: Leader McConnell to come out and say that he believes 226 00:13:44,640 --> 00:13:49,480 Speaker 1: that this positive development on the vaccination front means let 227 00:13:49,840 --> 00:13:52,199 Speaker 1: to surpass the standalone bill for lack of a better term, 228 00:13:52,200 --> 00:13:55,800 Speaker 1: and a more focused version that that sets the parameters 229 00:13:55,840 --> 00:13:59,200 Speaker 1: of the lame duck debate, Does it not? Yeah? Sure, 230 00:13:59,240 --> 00:14:01,959 Speaker 1: And I do think that, you know, certain people do 231 00:14:02,440 --> 00:14:06,760 Speaker 1: benefit from various UH types of spending, but at some 232 00:14:06,880 --> 00:14:09,520 Speaker 1: point the government is just going to run out of 233 00:14:09,559 --> 00:14:13,600 Speaker 1: money and they can't can't always continue to spend our 234 00:14:13,600 --> 00:14:16,920 Speaker 1: way for to prosperity. Someone's going to have to pay 235 00:14:16,920 --> 00:14:19,920 Speaker 1: the bills UH in the future, and that's that's us, 236 00:14:19,920 --> 00:14:23,520 Speaker 1: that's taxpayers. So the idea that we can actually get 237 00:14:24,280 --> 00:14:26,800 Speaker 1: out of this just through spending, I think was a 238 00:14:26,800 --> 00:14:29,880 Speaker 1: tenuous So now we now have an alternative which is 239 00:14:29,920 --> 00:14:34,040 Speaker 1: actually reopening the economy. So I'm super excited about FISER 240 00:14:34,280 --> 00:14:37,960 Speaker 1: and uh if if we can actually just reopen the 241 00:14:37,960 --> 00:14:41,840 Speaker 1: economy naturally, get people back to work naturally, I think 242 00:14:41,880 --> 00:14:44,720 Speaker 1: that's a win for everybody. Ed Strings on the line, 243 00:14:44,720 --> 00:14:48,400 Speaker 1: he's the president of the American Institute for Economic Research. 244 00:14:48,880 --> 00:14:52,200 Speaker 1: And let's talk about the Financial Stability Report, because that 245 00:14:52,240 --> 00:14:54,800 Speaker 1: was released on Monday. The FED is warning that asset 246 00:14:54,880 --> 00:14:58,200 Speaker 1: prices and key markets could still take a hit if 247 00:14:58,200 --> 00:15:03,280 Speaker 1: the coronavirus pandemics I can coomic impact worsens in coming months. 248 00:15:03,360 --> 00:15:07,200 Speaker 1: Most assets have maintained strong levels so far as investor 249 00:15:07,240 --> 00:15:10,320 Speaker 1: appetites increased. In the US, government intervened to support the 250 00:15:10,400 --> 00:15:13,480 Speaker 1: nation's financial system. This, of course, according to the feds 251 00:15:13,480 --> 00:15:17,840 Speaker 1: twice yearly Financial Stability Report. What was your big takeaways 252 00:15:18,240 --> 00:15:20,840 Speaker 1: in addition to our Jesse Hamilton's and Rich Miller's reporting 253 00:15:20,960 --> 00:15:25,000 Speaker 1: from the Financial Stability Report at Well, you know, it's 254 00:15:25,040 --> 00:15:28,640 Speaker 1: always possible that that markets are miss priced, but I 255 00:15:28,680 --> 00:15:33,240 Speaker 1: do think that the best guess of future profitability of 256 00:15:33,320 --> 00:15:38,280 Speaker 1: corporations of the American economy is current stock prices and 257 00:15:38,760 --> 00:15:42,240 Speaker 1: the fact that they've been recovering for the better part 258 00:15:42,240 --> 00:15:45,600 Speaker 1: of this year and now they're pretty much at record highs, 259 00:15:45,640 --> 00:15:49,960 Speaker 1: I think is a really great sign people are ready 260 00:15:50,000 --> 00:15:55,080 Speaker 1: to get back to work. We've seen job job numbers 261 00:15:55,080 --> 00:15:58,080 Speaker 1: have been improving over the steadily over the last uh 262 00:15:58,920 --> 00:16:02,720 Speaker 1: weeks and my and so people want to get back 263 00:16:02,760 --> 00:16:06,280 Speaker 1: to work, and the more that people think that the 264 00:16:06,320 --> 00:16:08,800 Speaker 1: economy is going to reopen, I think that's why we 265 00:16:08,880 --> 00:16:11,360 Speaker 1: see these high stock prices. And I don't think that 266 00:16:11,480 --> 00:16:14,800 Speaker 1: I would be as worried as maybe Powell would be suggesting. 267 00:16:15,440 --> 00:16:19,640 Speaker 1: So what in terms of where the virus stands, Because 268 00:16:19,680 --> 00:16:23,640 Speaker 1: we're getting so much new news but not enough data. 269 00:16:23,920 --> 00:16:26,520 Speaker 1: What I say, do you agree with that that that 270 00:16:26,560 --> 00:16:28,560 Speaker 1: that investors right now don't have a lot of data. 271 00:16:28,600 --> 00:16:31,840 Speaker 1: Accept us a lot of positive headlines in terms of 272 00:16:31,920 --> 00:16:35,200 Speaker 1: visor um, but in terms of the stimulus, we still 273 00:16:35,240 --> 00:16:37,120 Speaker 1: don't have a vote. We still don't have a proposal 274 00:16:37,160 --> 00:16:39,040 Speaker 1: in the sense of where things could be headed or 275 00:16:39,240 --> 00:16:41,840 Speaker 1: when the vote could happen. But we do still continue 276 00:16:41,840 --> 00:16:44,440 Speaker 1: to have this uptaking cases. So I guess that's really 277 00:16:44,480 --> 00:16:46,440 Speaker 1: the only data that we have. But where do you 278 00:16:46,480 --> 00:16:51,160 Speaker 1: see the domestic coronavirus cases impacting some of the volatility 279 00:16:51,160 --> 00:16:54,120 Speaker 1: in the markets. Well, you know, we have a lot 280 00:16:54,160 --> 00:16:57,120 Speaker 1: more testing than we had earlier this year, and so 281 00:16:57,520 --> 00:17:01,320 Speaker 1: there's there were was a lot more unreported cases that 282 00:17:01,400 --> 00:17:04,960 Speaker 1: we didn't know about, and so people are now much 283 00:17:05,040 --> 00:17:08,760 Speaker 1: more aware of what we have. That means the UH 284 00:17:09,040 --> 00:17:12,840 Speaker 1: fatality rate has been going down. We're well aware of 285 00:17:13,640 --> 00:17:17,159 Speaker 1: things that weren't we didn't know before, So that's good. 286 00:17:17,400 --> 00:17:21,200 Speaker 1: And in terms of certain states, obviously we're seeing surges, 287 00:17:21,640 --> 00:17:23,480 Speaker 1: but you've got a lot of the states and then 288 00:17:23,640 --> 00:17:29,600 Speaker 1: the northeast, things tend to be UH moving in as 289 00:17:30,200 --> 00:17:34,040 Speaker 1: good direction. So I think that that people are ready 290 00:17:34,080 --> 00:17:36,720 Speaker 1: to get back to work, and people are getting back 291 00:17:36,760 --> 00:17:41,480 Speaker 1: to work. The unemployment rates are are dropping. They're still 292 00:17:41,520 --> 00:17:46,159 Speaker 1: at pretty high historic levels. But in terms of the data, 293 00:17:46,280 --> 00:17:50,080 Speaker 1: I think we don't need to be extremely worried just 294 00:17:50,320 --> 00:17:53,520 Speaker 1: about the cases alone. It's actually the death rate is 295 00:17:53,560 --> 00:17:56,960 Speaker 1: what matters, and by all measures, that's been falling in 296 00:17:57,080 --> 00:18:00,919 Speaker 1: most states, and what do you think. So not to 297 00:18:00,960 --> 00:18:03,240 Speaker 1: get you political or anything, but just in the minute 298 00:18:03,240 --> 00:18:06,360 Speaker 1: that I have left with you, even if Democrats win, 299 00:18:07,200 --> 00:18:09,480 Speaker 1: even if let's say Democrats pick up the special election 300 00:18:09,560 --> 00:18:13,520 Speaker 1: Runolfs in Georgia. The Senate still has enough conservatives in 301 00:18:13,560 --> 00:18:16,359 Speaker 1: it that it would make it very hard for a 302 00:18:16,440 --> 00:18:19,639 Speaker 1: president elect Biden to to get you know, someone like 303 00:18:19,680 --> 00:18:25,000 Speaker 1: a Treasury Secretary Elizabeth Warren. Now, uh, yeah, that's that's 304 00:18:25,080 --> 00:18:29,480 Speaker 1: actually my own opinion. I think one of the signs 305 00:18:29,520 --> 00:18:33,360 Speaker 1: that we're going to be in a good situation is 306 00:18:33,359 --> 00:18:36,199 Speaker 1: is maybe the best option we have a lot of 307 00:18:36,200 --> 00:18:39,320 Speaker 1: my colleagues is a great luck. So I think that 308 00:18:40,320 --> 00:18:48,040 Speaker 1: the tax decreases and the financial deregulation of the current president, 309 00:18:48,119 --> 00:18:50,040 Speaker 1: I think those were good for markets. I think his 310 00:18:50,119 --> 00:18:54,640 Speaker 1: tariffs were bad for markets. With a new president coming in, 311 00:18:54,760 --> 00:18:56,760 Speaker 1: it looks like he might be a little bit more 312 00:18:56,800 --> 00:18:59,600 Speaker 1: pro free trade, which will be good for markets. And 313 00:18:59,640 --> 00:19:02,639 Speaker 1: then if he doesn't put in someone like Warren, I 314 00:19:02,680 --> 00:19:06,119 Speaker 1: think that would also be good for markets as well. 315 00:19:06,200 --> 00:19:09,199 Speaker 1: So maybe we can hope for his good luck. All right, 316 00:19:09,640 --> 00:19:12,840 Speaker 1: appreciate your time as always, Ed String, I'm appreciative, Professor 317 00:19:12,920 --> 00:19:15,320 Speaker 1: Trinity College, and of course the president of American Institute 318 00:19:15,320 --> 00:19:18,200 Speaker 1: for Economic Research. For next, this is Bloomberg ninety nine one. 319 00:19:19,480 --> 00:19:22,480 Speaker 1: Why from our nation's camera, I'll talk here in Washington, 320 00:19:22,520 --> 00:19:26,639 Speaker 1: d C. Turns to President elect Joe Biden's administration. Historically speaking, 321 00:19:26,640 --> 00:19:29,080 Speaker 1: the markets that perform better when there is divided government. 322 00:19:29,200 --> 00:19:33,000 Speaker 1: The biggest pressure for physical stimulus is an off taking cases. 323 00:19:33,080 --> 00:19:38,119 Speaker 1: Bloomberg Sound On the Insiders, the Influencers, the inside siding 324 00:19:38,160 --> 00:19:41,040 Speaker 1: has Thomas again and again it he will unite the 325 00:19:41,080 --> 00:19:44,520 Speaker 1: country's state government's control elections as in the constitution. I 326 00:19:44,560 --> 00:19:48,520 Speaker 1: think that we can expect a smooth, thoughtful, methodical transition. 327 00:19:48,760 --> 00:19:53,280 Speaker 1: This is Bloomberg Sound On with Kevin Shirley on Bloomberg 328 00:19:54,160 --> 00:19:56,560 Speaker 1: one and one oh five point seven m h D 329 00:19:56,720 --> 00:20:00,200 Speaker 1: two Washington, d C. Wakes up to President A at 330 00:20:00,280 --> 00:20:03,480 Speaker 1: Joe Biden's town. What does it mean? He announces his 331 00:20:03,560 --> 00:20:09,080 Speaker 1: Coronavirus task Force. This upon fresh developments on Viser's vaccination front. 332 00:20:09,200 --> 00:20:13,600 Speaker 1: They say they've got a shot that has a effective rate. 333 00:20:14,040 --> 00:20:17,919 Speaker 1: We've got complete complete political analysis, market analysis, and the 334 00:20:17,920 --> 00:20:20,920 Speaker 1: fiscal stimulus front as set a majority Leader Mitch McConnell 335 00:20:20,960 --> 00:20:24,160 Speaker 1: speaks earlier today on a host of different issues. We've 336 00:20:24,160 --> 00:20:26,400 Speaker 1: got an all star panel and a lot to cover. 337 00:20:27,080 --> 00:20:32,520 Speaker 1: We begin tonight with positive developments on the coronavirus vaccination front, 338 00:20:32,520 --> 00:20:36,320 Speaker 1: as FSER has announced earlier today that they have a 339 00:20:36,359 --> 00:20:40,280 Speaker 1: shot that has a nine percent effective rate, more than 340 00:20:41,440 --> 00:20:45,679 Speaker 1: effective rate, and that has driven the conversation here inside 341 00:20:45,800 --> 00:20:50,320 Speaker 1: of Washington, d C. Earlier today, President elect Joe Biden 342 00:20:50,480 --> 00:20:54,680 Speaker 1: speaking about how he would tackle the pandemic after announcing 343 00:20:55,000 --> 00:20:58,760 Speaker 1: the Biden Harris Coronavirus Task Force. He spoke from the 344 00:20:58,840 --> 00:21:02,320 Speaker 1: Queen Theater and will Nington, Delaware. Here he is, I 345 00:21:02,359 --> 00:21:06,440 Speaker 1: will spare no effort to turn this pandemic around once 346 00:21:06,480 --> 00:21:10,040 Speaker 1: we're sworn in in January. To get our kids back 347 00:21:10,080 --> 00:21:14,160 Speaker 1: to school safely, our business is growing and our economy 348 00:21:14,240 --> 00:21:17,040 Speaker 1: running at full speed again. And to get an approved 349 00:21:17,080 --> 00:21:21,280 Speaker 1: vaccine manufactured and distribute as quickly as possible to as 350 00:21:21,280 --> 00:21:26,800 Speaker 1: many Americans as possible, then send a majority Leader. Mitch 351 00:21:26,880 --> 00:21:30,280 Speaker 1: McConnell weighed in about the impact that this would have 352 00:21:30,400 --> 00:21:33,320 Speaker 1: on fiscal negotiations and what he said folks essentially was 353 00:21:34,280 --> 00:21:37,760 Speaker 1: he believes that Congress should pass a limited stimulus bill 354 00:21:38,119 --> 00:21:41,960 Speaker 1: before the end of in wake of encouraging data on 355 00:21:42,040 --> 00:21:45,760 Speaker 1: the COVID nineteen vaccination UH as well as a slide 356 00:21:45,800 --> 00:21:49,040 Speaker 1: in undeployment to six point nine per cent. I want 357 00:21:49,040 --> 00:21:52,679 Speaker 1: to start there before we get to the political issues 358 00:21:52,680 --> 00:21:55,359 Speaker 1: of the day relating to whether or not President Trump 359 00:21:55,359 --> 00:21:58,800 Speaker 1: will concede, as well as the Georgia implications as well. 360 00:21:58,840 --> 00:22:02,120 Speaker 1: But let's begin with the polo see because that's incredibly important. 361 00:22:02,320 --> 00:22:04,520 Speaker 1: Um as we navigate through this, Doug highs with me, 362 00:22:04,560 --> 00:22:07,639 Speaker 1: former deputy chief of staff for former House Majority Leader 363 00:22:07,760 --> 00:22:11,040 Speaker 1: Eric Cancer and former communications director for the r n C, 364 00:22:11,640 --> 00:22:15,480 Speaker 1: and Kendrey Barkoff Lamby, who was the former press secretary 365 00:22:15,520 --> 00:22:19,119 Speaker 1: to Vice President now President elect Joe Biden, and former 366 00:22:19,160 --> 00:22:23,639 Speaker 1: spokesperson two Senators Bob Casey and Dick Durban. Kendra, I'll 367 00:22:23,680 --> 00:22:26,439 Speaker 1: begin with you. Welcome to the program. In terms of 368 00:22:26,560 --> 00:22:29,320 Speaker 1: where there's only so much the president elect can do 369 00:22:29,480 --> 00:22:31,679 Speaker 1: in terms of trying to get Congress to pass a 370 00:22:31,720 --> 00:22:36,280 Speaker 1: fiscal stimulus deal. But in the immediate short term before January, 371 00:22:36,320 --> 00:22:39,560 Speaker 1: that's gonna be policymakers and a lot of Americans are 372 00:22:39,560 --> 00:22:43,640 Speaker 1: going to be focused on that. Kendra, Well, I will 373 00:22:43,680 --> 00:22:46,800 Speaker 1: thank you for having me. First off, look, I think uh, 374 00:22:46,960 --> 00:22:50,280 Speaker 1: first and foremost Americans are looking for someone who is 375 00:22:50,320 --> 00:22:53,800 Speaker 1: gonna respect our democracy and our institutions and who's not 376 00:22:53,800 --> 00:22:56,840 Speaker 1: gonna lie uh and who's going to be truthful to them. 377 00:22:56,840 --> 00:22:59,080 Speaker 1: And I think that's a huge step forward to begin 378 00:22:59,119 --> 00:23:02,320 Speaker 1: with um. But in terms of immediate actions, look, he's 379 00:23:02,320 --> 00:23:05,240 Speaker 1: made it very clear that the first thing we need 380 00:23:05,240 --> 00:23:09,640 Speaker 1: to work on is UH COVID and tackling this global pandemic. 381 00:23:09,640 --> 00:23:13,480 Speaker 1: It's why he launched this task force today with respective 382 00:23:14,119 --> 00:23:18,080 Speaker 1: medical and health personnel from across this country, because that 383 00:23:18,240 --> 00:23:21,880 Speaker 1: is getting that under control is the most important thing. Obviously, 384 00:23:21,920 --> 00:23:24,960 Speaker 1: the fiscal bill is also extremely important, but I think 385 00:23:24,960 --> 00:23:27,840 Speaker 1: that will also come once we start to get this 386 00:23:28,000 --> 00:23:31,760 Speaker 1: COVID pandemic under control. And Zug I mean she I 387 00:23:31,800 --> 00:23:35,040 Speaker 1: think when you look at the fiscal stimulus, while many 388 00:23:35,119 --> 00:23:39,960 Speaker 1: people want it immediately, if they wait till after January twenty, 389 00:23:40,040 --> 00:23:43,040 Speaker 1: they could get another massive fiscal stimulus when the President 390 00:23:43,040 --> 00:23:45,639 Speaker 1: elect is in there. Even if it's a it's a 391 00:23:45,760 --> 00:23:50,399 Speaker 1: narrow path in the Senate. Doug. Yeah, and look, one 392 00:23:50,440 --> 00:23:52,159 Speaker 1: of the realities that that we're going to face on 393 00:23:52,200 --> 00:23:55,160 Speaker 1: the Republican side of things is a lot of Republicans 394 00:23:55,160 --> 00:23:58,080 Speaker 1: you're starting to see this already, are finding religion on 395 00:23:58,160 --> 00:24:01,680 Speaker 1: death and death deficits and ending which went out the 396 00:24:01,720 --> 00:24:04,520 Speaker 1: window for four years under Donald Trump. So if we 397 00:24:04,560 --> 00:24:07,440 Speaker 1: can get a deal sooner rather than later, I would 398 00:24:07,440 --> 00:24:10,119 Speaker 1: guess that would be a larger deal, because Republicans do, 399 00:24:10,280 --> 00:24:12,639 Speaker 1: especially as we're looking at running for president, are going 400 00:24:12,680 --> 00:24:15,199 Speaker 1: to be deficit hawks again all of a sudden. But 401 00:24:15,520 --> 00:24:18,119 Speaker 1: I but do you think that starts immediately because if 402 00:24:18,160 --> 00:24:20,240 Speaker 1: you look in the Senate in particular, Dog, I want 403 00:24:20,240 --> 00:24:21,440 Speaker 1: to follow up with you on this because this is 404 00:24:21,480 --> 00:24:24,520 Speaker 1: incredibly important and it really could set the stage for 405 00:24:24,880 --> 00:24:29,199 Speaker 1: UH when President Elect Biden's more in, which is do 406 00:24:29,280 --> 00:24:31,639 Speaker 1: you think that there will still be an appetite for 407 00:24:31,680 --> 00:24:34,080 Speaker 1: some of those moderate Republicans to have to fall in 408 00:24:34,160 --> 00:24:37,719 Speaker 1: line with the deficit hawks, even as people are going 409 00:24:37,760 --> 00:24:39,840 Speaker 1: to be wanting to get back to work, and even 410 00:24:39,880 --> 00:24:42,560 Speaker 1: you've got the FED coming out today and saying that 411 00:24:42,600 --> 00:24:45,399 Speaker 1: if there isn't more fiscal stimulus, that this that this 412 00:24:45,520 --> 00:24:49,240 Speaker 1: virus could really wreak havoc in terms of in terms 413 00:24:49,240 --> 00:24:53,600 Speaker 1: of the economic cloud on this. Yeah, I think you know, 414 00:24:53,760 --> 00:24:56,040 Speaker 1: ultimately what we could see with this is that it 415 00:24:56,080 --> 00:24:58,439 Speaker 1: will affect what the deal is, not whether or not 416 00:24:58,520 --> 00:25:02,159 Speaker 1: a deal passes, because we're already starting to see some 417 00:25:02,320 --> 00:25:05,720 Speaker 1: Republicans who are out there talking about spending in a 418 00:25:05,760 --> 00:25:08,359 Speaker 1: way that they didn't for three years or for four years. 419 00:25:08,680 --> 00:25:11,359 Speaker 1: Um So, so now that that's changed. What that deal 420 00:25:11,480 --> 00:25:13,640 Speaker 1: ultimately may be will be where they may have their 421 00:25:13,720 --> 00:25:16,720 Speaker 1: greatest impact. Kendrick, come in here in terms of the 422 00:25:17,359 --> 00:25:20,840 Speaker 1: president elects first one hundred days initiative. On on an 423 00:25:20,840 --> 00:25:24,719 Speaker 1: economic front, what are you anticipate will be will be 424 00:25:24,800 --> 00:25:27,360 Speaker 1: something that that really from an economic standpoint, is something 425 00:25:27,359 --> 00:25:29,919 Speaker 1: that he's going to push through. Is it infrastructure? Is 426 00:25:29,920 --> 00:25:34,439 Speaker 1: it fiscal stimulus. Look, I think he's gonna, um, you know, 427 00:25:34,560 --> 00:25:37,520 Speaker 1: give to these communities and and work from the ground up, right, 428 00:25:37,560 --> 00:25:40,200 Speaker 1: I think he's gonna I think transportation and infrastructure is 429 00:25:40,200 --> 00:25:42,280 Speaker 1: going to be a key part of that. I think 430 00:25:42,320 --> 00:25:44,920 Speaker 1: you're going to look for him to invest in the schools. 431 00:25:45,400 --> 00:25:48,000 Speaker 1: Um even though children aren't in schools. My help is, 432 00:25:48,080 --> 00:25:50,760 Speaker 1: you know, through this guidance and through this COVID task force, 433 00:25:50,800 --> 00:25:52,960 Speaker 1: they'll be able to work on guidance so that children 434 00:25:53,000 --> 00:25:56,520 Speaker 1: can safely and responsible go back to schools. But part 435 00:25:56,520 --> 00:26:01,040 Speaker 1: of that safety and responsibly is having plans in place, 436 00:26:01,240 --> 00:26:05,800 Speaker 1: which includes you know, uh, physical uh, you know, barriers 437 00:26:06,040 --> 00:26:10,200 Speaker 1: and uh, but also computers and and and work spaces 438 00:26:10,240 --> 00:26:12,199 Speaker 1: that that children can go back. And so I do 439 00:26:12,280 --> 00:26:14,600 Speaker 1: think that there will be some sort of you know, 440 00:26:14,800 --> 00:26:19,160 Speaker 1: on the ground giving to local communities, UH counties, mayors 441 00:26:19,240 --> 00:26:22,119 Speaker 1: that that can really sort of work from the ground 442 00:26:22,240 --> 00:26:26,680 Speaker 1: up to help this this fiscal problem that we're we're facing. 443 00:26:26,760 --> 00:26:28,800 Speaker 1: And I go back to the to the Supreme Court 444 00:26:28,920 --> 00:26:31,159 Speaker 1: rolling just the other week, which essentially said that the 445 00:26:31,160 --> 00:26:34,679 Speaker 1: Treasury Department has to release where the money for the 446 00:26:34,720 --> 00:26:37,359 Speaker 1: p p P went as well as just to have 447 00:26:37,400 --> 00:26:39,840 Speaker 1: some more transparency on that. I think Kendrew just phraises 448 00:26:39,880 --> 00:26:43,119 Speaker 1: a really good point about putting a face on the 449 00:26:43,119 --> 00:26:46,080 Speaker 1: fiscal stimulus. I think, you know, whether it was for 450 00:26:46,119 --> 00:26:49,040 Speaker 1: political reasons or every fall on this, but whether it 451 00:26:49,080 --> 00:26:52,000 Speaker 1: was political or whether it was a lack of just 452 00:26:52,160 --> 00:26:55,040 Speaker 1: the speed in which all of this was happening back 453 00:26:55,040 --> 00:26:57,720 Speaker 1: in March and April May, but there wasn't really a 454 00:26:57,720 --> 00:27:00,119 Speaker 1: face in terms of there wasn't like a Dock or 455 00:27:00,160 --> 00:27:03,400 Speaker 1: Anthony Fauci for the fiscal stimulus front that people knew 456 00:27:03,440 --> 00:27:07,240 Speaker 1: where to go in order to to to find some 457 00:27:07,240 --> 00:27:10,159 Speaker 1: some economic relief that was that was made available. I 458 00:27:10,600 --> 00:27:13,119 Speaker 1: guess you could say fed share Powell. I mean he 459 00:27:13,160 --> 00:27:15,880 Speaker 1: gave interviews. I remember seeing him on the Today Show, 460 00:27:15,920 --> 00:27:19,800 Speaker 1: which is really really unheard of to have the Central 461 00:27:19,800 --> 00:27:23,719 Speaker 1: Bank on you know, the mainstream morning shows. It is 462 00:27:23,800 --> 00:27:26,960 Speaker 1: really remarkable. All right, quickly, just before we're gonna we're 463 00:27:26,960 --> 00:27:29,800 Speaker 1: gonna scatter this in throughout the next hour. Kendrew, where 464 00:27:29,840 --> 00:27:31,800 Speaker 1: were you on election? I give us your your memory 465 00:27:32,359 --> 00:27:34,359 Speaker 1: or actually I guess Friday and Saturday when he was 466 00:27:34,400 --> 00:27:37,600 Speaker 1: declared officially. Uh, when he passed the threshold. Where were you? 467 00:27:37,680 --> 00:27:41,280 Speaker 1: What was your memory of the moment? Um? You know, 468 00:27:41,440 --> 00:27:44,119 Speaker 1: I was. I was in Alexandery of Virginia. UM. I 469 00:27:44,119 --> 00:27:46,440 Speaker 1: have two small little ones. The first I actually had 470 00:27:46,480 --> 00:27:49,080 Speaker 1: while I was working for Vice President Joe Biden. UM, 471 00:27:49,160 --> 00:27:52,840 Speaker 1: and the second subsequent to that time. And UM, we 472 00:27:52,840 --> 00:27:55,600 Speaker 1: were in Alexander of Virginia and we were hiking around, 473 00:27:55,960 --> 00:28:00,360 Speaker 1: UM and just being obviously it was a beautiful day 474 00:28:00,800 --> 00:28:04,800 Speaker 1: masks on. We were masked up. UM, but we were 475 00:28:04,880 --> 00:28:09,760 Speaker 1: hiking around, and UM, I found outstanding. I was not 476 00:28:09,920 --> 00:28:11,760 Speaker 1: on my phone for a hot seconds and then of 477 00:28:11,800 --> 00:28:14,400 Speaker 1: course it starts blowing up, and my my lovely, wonderful 478 00:28:14,480 --> 00:28:16,240 Speaker 1: husband took the children for a little while so that 479 00:28:16,280 --> 00:28:18,240 Speaker 1: I could sort of pay attention to all the news. 480 00:28:18,280 --> 00:28:20,760 Speaker 1: But you know, and then Sunday I took my children 481 00:28:20,840 --> 00:28:24,639 Speaker 1: to Mount Vernon. Uh. I felt like was such a 482 00:28:24,760 --> 00:28:28,960 Speaker 1: historic place to take them to after such a historic 483 00:28:29,040 --> 00:28:33,199 Speaker 1: wind stick around because we got let's leave it there, 484 00:28:33,200 --> 00:28:35,439 Speaker 1: because we're gonna talk about that and that historic breakthrough 485 00:28:35,520 --> 00:28:37,560 Speaker 1: coming up next. Kendra Stays Talksdays. I'm Kevin s Really. 486 00:28:37,680 --> 00:28:41,200 Speaker 1: You're listening to Bloomberg und I want you're listening to 487 00:28:41,360 --> 00:28:45,959 Speaker 1: Bloomberg Sound on with Kevin Sireli on Bloomberg and one 488 00:28:46,000 --> 00:28:48,840 Speaker 1: all five point seven a m h D. Two. I'm 489 00:28:48,920 --> 00:28:52,600 Speaker 1: Kevin Surreally, Sheef Washington, correspondent for Bloomberg Television and for 490 00:28:52,800 --> 00:28:57,160 Speaker 1: Bloomberg Radio. You know Ken dra Barkoff Lamby's with me. 491 00:28:57,480 --> 00:28:59,719 Speaker 1: She used to be the press secretary for then Vice 492 00:28:59,760 --> 00:29:03,600 Speaker 1: President Joe Biden. Now of course he's the president elect. Uh. 493 00:29:03,880 --> 00:29:07,280 Speaker 1: And she's also worked with Senator Bob Casey, a Democrat 494 00:29:07,320 --> 00:29:10,480 Speaker 1: from Pennsylvania, my home state, and Dick Durban as well. 495 00:29:10,920 --> 00:29:14,880 Speaker 1: Doug Highs with me as well, Republican insider, former Governor 496 00:29:14,960 --> 00:29:17,280 Speaker 1: Hogan insider. I gotta start saying on a former deputy 497 00:29:17,320 --> 00:29:21,080 Speaker 1: chief of staff to former House Majority Leader Eric Kenter 498 00:29:21,880 --> 00:29:24,080 Speaker 1: as well as the COMPS director for the r NC. Doug, 499 00:29:24,120 --> 00:29:26,880 Speaker 1: you tweeted this out. You got Kendrick Champagne you got 500 00:29:27,000 --> 00:29:30,120 Speaker 1: a Champagne to celebrate the whim So I guess I 501 00:29:30,200 --> 00:29:33,920 Speaker 1: guess by PARTI isn't ship, isn't dead. Well, you know, 502 00:29:33,960 --> 00:29:35,920 Speaker 1: I'm just trying to score points now that she's newly 503 00:29:36,080 --> 00:29:41,520 Speaker 1: more powerful. You know what, that was the most honest 504 00:29:41,560 --> 00:29:44,040 Speaker 1: answer I've ever gotten on this show. You know what 505 00:29:44,160 --> 00:29:50,240 Speaker 1: divided government in Washington. You know what divided government means Washington. 506 00:29:50,320 --> 00:29:53,680 Speaker 1: All the lobbyists and consultants are are thinking few they 507 00:29:53,760 --> 00:29:58,160 Speaker 1: still need us. Go ahead, Doug. Well, you know I've 508 00:29:58,200 --> 00:30:00,479 Speaker 1: heard all the Warrens honking and everything with which kind 509 00:30:00,480 --> 00:30:03,400 Speaker 1: of how I found out about Trump's win. But I 510 00:30:03,480 --> 00:30:07,680 Speaker 1: saw sat David, you mean he has to excuse me. 511 00:30:07,720 --> 00:30:11,160 Speaker 1: Biden's win in d C. They said that the amount 512 00:30:11,200 --> 00:30:13,640 Speaker 1: of champagne that was sold this weekend was more than 513 00:30:13,720 --> 00:30:17,400 Speaker 1: the last two New Year's eaves combined. So I don't 514 00:30:17,440 --> 00:30:19,360 Speaker 1: think that should be a big surprise to anybody, but 515 00:30:19,600 --> 00:30:21,400 Speaker 1: it was a lot. I had some, and I wanted 516 00:30:21,400 --> 00:30:23,720 Speaker 1: to make sure that Kendri and Jonathan did as well. 517 00:30:23,880 --> 00:30:26,080 Speaker 1: The weather has just been gorgeous. I don't want to, 518 00:30:26,160 --> 00:30:27,880 Speaker 1: Jin said, but I mean just the weather in and 519 00:30:28,000 --> 00:30:31,520 Speaker 1: of itself. You know, it was definitely you know, remember 520 00:30:31,840 --> 00:30:34,239 Speaker 1: the cold that we had. So it was a beautiful day. 521 00:30:34,280 --> 00:30:36,520 Speaker 1: Another beautiful day here in Washington, d C. All Right, 522 00:30:36,600 --> 00:30:39,720 Speaker 1: we gotta get to the political front. Senate Majority Leader 523 00:30:39,800 --> 00:30:43,640 Speaker 1: Mitch McConnell said that President Trump is quote one within 524 00:30:43,800 --> 00:30:47,160 Speaker 1: his rights end quote to consider challenging results of the 525 00:30:47,200 --> 00:30:50,600 Speaker 1: presidential election, and that he has no obligation to accept 526 00:30:50,680 --> 00:30:53,640 Speaker 1: projections based on vote counts. That Joe Biden want to 527 00:30:53,640 --> 00:30:56,760 Speaker 1: take a listen to Senate Majority Leader Mitch McConnell earlier today. 528 00:30:56,800 --> 00:30:59,240 Speaker 1: Here he is, we have the system in place to 529 00:30:59,320 --> 00:31:05,360 Speaker 1: consider scerns, and President Trump is within his rights to 530 00:31:05,480 --> 00:31:10,880 Speaker 1: look into allegations of irregularities and way his legal options. 531 00:31:12,200 --> 00:31:14,360 Speaker 1: We have some more from Leader McConnell. Here's what else 532 00:31:14,360 --> 00:31:17,160 Speaker 1: he had to say. Let's not have any lectures, no 533 00:31:17,360 --> 00:31:22,000 Speaker 1: lectures about how the president should immediately cheerfully accept preliminary 534 00:31:22,080 --> 00:31:25,680 Speaker 1: election results from the same characters who just spent four 535 00:31:25,800 --> 00:31:28,720 Speaker 1: years refusing to accept the volitity of the last election. 536 00:31:29,600 --> 00:31:32,600 Speaker 1: These were his first public remarks that McConnell said no 537 00:31:32,760 --> 00:31:35,520 Speaker 1: states have certified the results of the election, even as 538 00:31:35,600 --> 00:31:38,000 Speaker 1: he pointed out that Republicans want and Senate in House 539 00:31:38,120 --> 00:31:43,120 Speaker 1: races that they were expected to lose. Other prominent members 540 00:31:43,280 --> 00:31:48,080 Speaker 1: of the GOP have congratulated Biden, including former President George W. Bush, 541 00:31:48,400 --> 00:31:52,320 Speaker 1: as have business groups that usually are aligned with Republicans. 542 00:31:52,320 --> 00:31:55,360 Speaker 1: I should note Governor Larry Hogan is also a Republican 543 00:31:55,440 --> 00:32:02,280 Speaker 1: from Maryland who congratulated Uh. Uh by did as well. Um, Doug, 544 00:32:02,600 --> 00:32:04,960 Speaker 1: is it is it wise for Republicans to do this? 545 00:32:05,320 --> 00:32:08,200 Speaker 1: I spoke with a source earlier today who told me 546 00:32:08,760 --> 00:32:11,280 Speaker 1: this is all about the Georgia runoff elections. They want 547 00:32:11,320 --> 00:32:15,120 Speaker 1: to make sure that Republicans are aren't remain activated to 548 00:32:15,400 --> 00:32:17,960 Speaker 1: to show up to the polls uh, and that donors 549 00:32:18,080 --> 00:32:21,400 Speaker 1: still want to keep a a Republican Senate majority. So 550 00:32:21,520 --> 00:32:23,520 Speaker 1: I guess too full to question one is it wise? 551 00:32:23,640 --> 00:32:27,000 Speaker 1: And too is this all about Georgia? Well, I don't 552 00:32:27,040 --> 00:32:29,000 Speaker 1: think it's all about Georgia in order, nor do I 553 00:32:29,040 --> 00:32:33,360 Speaker 1: think it's necessarily wise. Republicans win special elections in Georgia, 554 00:32:33,480 --> 00:32:36,720 Speaker 1: especially runoff elections in Georgia, so they shouldn't have that 555 00:32:36,880 --> 00:32:39,640 Speaker 1: kind of a broad concern to where they're criticizing the 556 00:32:39,760 --> 00:32:43,360 Speaker 1: Republican UH Secretary of State in Georgia. It doesn't make 557 00:32:43,480 --> 00:32:45,920 Speaker 1: a lot of sense. Um, But if you look at 558 00:32:45,960 --> 00:32:49,040 Speaker 1: what Mitch McConnell said, it's also what he doesn't say. 559 00:32:49,080 --> 00:32:51,400 Speaker 1: He's very precise when he uses his language. He says 560 00:32:52,880 --> 00:32:57,120 Speaker 1: within his rights to investigate irregularities, He's not urging the 561 00:32:57,160 --> 00:33:00,680 Speaker 1: president to do so. He's not saying there are a regularity. Um. 562 00:33:00,880 --> 00:33:04,760 Speaker 1: I think McConnell understands, you know, the vice that Republicans 563 00:33:04,800 --> 00:33:07,360 Speaker 1: find themselves in with Trump, even as we move to 564 00:33:07,480 --> 00:33:10,440 Speaker 1: a lame duck Donald Trump, they are always in between 565 00:33:10,440 --> 00:33:12,360 Speaker 1: a rock and a hard place, and Trump doesn't make 566 00:33:12,400 --> 00:33:16,080 Speaker 1: it any easier. Well, okay, before I get to Kendren 567 00:33:16,120 --> 00:33:18,280 Speaker 1: on this, but in terms of the dynamics that play 568 00:33:18,360 --> 00:33:22,720 Speaker 1: here there, this is this is the political question, which is, Okay, 569 00:33:22,800 --> 00:33:25,280 Speaker 1: we're staring down mid term elections for the Republican Party. 570 00:33:25,280 --> 00:33:28,280 Speaker 1: In two, Republican Sealing boldened that they could be on 571 00:33:28,360 --> 00:33:31,000 Speaker 1: the cusp of of winning back control of the House, 572 00:33:31,120 --> 00:33:32,640 Speaker 1: or they at least made gains in the House. So 573 00:33:32,720 --> 00:33:35,240 Speaker 1: there's that, and then yeah, there is this open primary 574 00:33:35,360 --> 00:33:37,600 Speaker 1: question in four. I don't want to get way ahead 575 00:33:37,600 --> 00:33:40,560 Speaker 1: of ourselves, but when Senator Ted Cruz, a Republican of Texas, 576 00:33:40,680 --> 00:33:43,200 Speaker 1: is getting retweeted by President Trump for comments that he 577 00:33:43,280 --> 00:33:48,080 Speaker 1: made on Fox News. You know it. Typically primaries are 578 00:33:48,080 --> 00:33:50,920 Speaker 1: about turning out the base, and the president is making 579 00:33:51,000 --> 00:33:55,600 Speaker 1: this right now a base issue, Doug. So he is, 580 00:33:55,720 --> 00:33:58,160 Speaker 1: but it's also because it's a very personal issue to him. 581 00:33:58,200 --> 00:34:00,960 Speaker 1: The reality is Donald Trump is never going to give 582 00:34:01,040 --> 00:34:04,120 Speaker 1: the kind of gracious confession speech that we would expect 583 00:34:04,320 --> 00:34:06,680 Speaker 1: um and have seen from other presidents who have lost. 584 00:34:07,080 --> 00:34:09,120 Speaker 1: He's not going to do things in the normal way 585 00:34:09,200 --> 00:34:11,600 Speaker 1: that we've seen them done in our history. We know 586 00:34:11,760 --> 00:34:14,040 Speaker 1: that Donald Trump doesn't want to admit that he lost 587 00:34:14,080 --> 00:34:16,520 Speaker 1: the election, so it has to be somebody else's fault. 588 00:34:17,000 --> 00:34:22,040 Speaker 1: Ergo photo fraud. But I guess. I guess. Analytically speaking, 589 00:34:22,480 --> 00:34:25,560 Speaker 1: the point that I would make is based upon the 590 00:34:25,640 --> 00:34:29,719 Speaker 1: conversations that I had today, is that there is there's 591 00:34:29,719 --> 00:34:33,440 Speaker 1: a political calculation being made as it relates to Georgia 592 00:34:33,600 --> 00:34:36,400 Speaker 1: and also as it relates to primaries to set him 593 00:34:36,520 --> 00:34:40,480 Speaker 1: up according to some of his advisors, uh that he 594 00:34:40,520 --> 00:34:43,920 Speaker 1: would want to play a kingmaker, conservative role, which is 595 00:34:44,000 --> 00:34:47,480 Speaker 1: this is the interesting development, Kendrick, come in here. Does 596 00:34:47,560 --> 00:34:52,359 Speaker 1: it undermine it all the president elects ability to put 597 00:34:52,440 --> 00:34:55,040 Speaker 1: together an administration? I mean, I guess it doesn't really 598 00:34:55,120 --> 00:34:56,800 Speaker 1: And I think we're all kind of learning that in 599 00:34:56,920 --> 00:34:59,960 Speaker 1: real time. But do you think it undermines President elect 600 00:35:00,040 --> 00:35:05,840 Speaker 1: Biden if um, if President Trump doesn't concede. Look, I 601 00:35:06,000 --> 00:35:11,480 Speaker 1: think that President elect Biden has been sending signals from 602 00:35:11,520 --> 00:35:15,840 Speaker 1: the start, from Tuesday night his speech to Wednesday, that 603 00:35:16,080 --> 00:35:19,120 Speaker 1: he does not want to be an ideological foe that 604 00:35:19,320 --> 00:35:23,239 Speaker 1: he can work across. Still, he's done it before, We've 605 00:35:23,280 --> 00:35:25,160 Speaker 1: seen him do it before. I know that he and 606 00:35:25,200 --> 00:35:28,680 Speaker 1: Mitch McConnell have had a relationship in the past. Um, 607 00:35:28,840 --> 00:35:31,520 Speaker 1: you know, Mitch McConnell went to his son Bo Biden's 608 00:35:31,560 --> 00:35:36,160 Speaker 1: funeral um as a Republican. And you know, I do 609 00:35:36,520 --> 00:35:40,200 Speaker 1: think that at some point, once Trump, you know, finishes 610 00:35:40,280 --> 00:35:43,280 Speaker 1: having I hate to say it, his minor little temper 611 00:35:43,360 --> 00:35:47,800 Speaker 1: tantrums and um, you know, Vice President elect Biden is 612 00:35:47,880 --> 00:35:51,680 Speaker 1: worn in. I do And maybe I'm just an eternal optimists, 613 00:35:51,719 --> 00:35:54,400 Speaker 1: as my former boss used to say, But I am 614 00:35:54,480 --> 00:35:56,560 Speaker 1: hopeful that they will come to the table because I 615 00:35:57,040 --> 00:36:00,160 Speaker 1: do hope that they realize that that is the only 616 00:36:00,200 --> 00:36:03,359 Speaker 1: way that they can get things done for the American people. Yeah, um, 617 00:36:03,880 --> 00:36:05,759 Speaker 1: And I think it's gonna be a little while, but 618 00:36:05,960 --> 00:36:08,960 Speaker 1: I think it can happen at some point, and I think, 619 00:36:09,400 --> 00:36:11,560 Speaker 1: you know, I think the political I think what I 620 00:36:11,719 --> 00:36:13,680 Speaker 1: gathered today on the reporting that I did was that 621 00:36:13,800 --> 00:36:16,920 Speaker 1: the there's a political calculation in Georgia as well as 622 00:36:17,000 --> 00:36:20,040 Speaker 1: in the long term in cycle and mid terms before that. 623 00:36:20,520 --> 00:36:24,080 Speaker 1: All great points from Doug and Kendrick coming up next, 624 00:36:24,360 --> 00:36:29,960 Speaker 1: much more. I'm Kevin Cirelli. You're listening to Bloomberg. This 625 00:36:30,520 --> 00:36:35,680 Speaker 1: is Bloomberg Sound On with Kevin Shirley on Bloomberg and 626 00:36:35,800 --> 00:36:38,719 Speaker 1: one oh five point seven f M HD two. I'm 627 00:36:38,800 --> 00:36:42,680 Speaker 1: Kevin SERELLI Sheep Washington corresponded from the Mer TV and Radio. 628 00:36:43,000 --> 00:36:46,040 Speaker 1: You know, I was at Martin's Tavern on Sunday having 629 00:36:46,239 --> 00:36:49,000 Speaker 1: some some coffee and French fries with some of my friends, 630 00:36:49,080 --> 00:36:53,000 Speaker 1: and uh, you know, it's so interesting because we we 631 00:36:53,160 --> 00:36:55,560 Speaker 1: all forget, and no matter how long you live in 632 00:36:55,640 --> 00:36:59,280 Speaker 1: this town, you always forget. It changes every two years. 633 00:36:59,360 --> 00:37:02,759 Speaker 1: Who's up's down, who's in, who's out. You know, what's 634 00:37:02,800 --> 00:37:06,440 Speaker 1: old is suddenly new. The Obama era making a comeback. 635 00:37:06,600 --> 00:37:09,040 Speaker 1: But you know, there's a lot of young staffers who 636 00:37:09,120 --> 00:37:11,880 Speaker 1: were with President elect Biden who are going to be 637 00:37:12,680 --> 00:37:15,560 Speaker 1: starting their careers as well. It's it's you know, we 638 00:37:15,600 --> 00:37:18,840 Speaker 1: always forget it, but we were reminded of it at 639 00:37:18,920 --> 00:37:23,080 Speaker 1: Martin's tavern on Sunday as we as we all now 640 00:37:23,400 --> 00:37:27,279 Speaker 1: are entered the transition period of Washington, d C. And 641 00:37:27,440 --> 00:37:33,480 Speaker 1: still another incredibly important election on January five. Uh So, 642 00:37:33,600 --> 00:37:35,319 Speaker 1: a lot to get through, a lot to get through. 643 00:37:35,360 --> 00:37:37,120 Speaker 1: But it's good to have places like Martins, you know, 644 00:37:37,239 --> 00:37:41,080 Speaker 1: that are still there no matter what through it all. Okay, 645 00:37:41,480 --> 00:37:45,919 Speaker 1: some someone who will not be finishing out the administration 646 00:37:46,040 --> 00:37:49,360 Speaker 1: is Defense Secretary Mark Esper. He was fired by tweet 647 00:37:49,640 --> 00:37:52,560 Speaker 1: on Monday as President Trump went after a top aide 648 00:37:52,560 --> 00:37:55,680 Speaker 1: that he blamed for not supporting him sufficiently. The President 649 00:37:55,719 --> 00:37:58,560 Speaker 1: said he's naming Christopher Miller, the director of National counter 650 00:37:58,719 --> 00:38:01,880 Speaker 1: Terrorism Center, as acting Pentagon Chief. So anytime there's a 651 00:38:01,920 --> 00:38:06,480 Speaker 1: development on this develop on this front, we bring in 652 00:38:06,600 --> 00:38:11,200 Speaker 1: Guy Snodgrass, the stoic CEO of Defense Analytics, former director 653 00:38:11,239 --> 00:38:13,880 Speaker 1: of Communications and chief speech writer to Secretary of Defense 654 00:38:14,000 --> 00:38:17,480 Speaker 1: James Maddis, and author of the great new book, If 655 00:38:17,520 --> 00:38:21,440 Speaker 1: I do say so myself, Top Guns, Top ten leadership 656 00:38:21,600 --> 00:38:24,440 Speaker 1: lessons from the Cockpit. Get it, read it, give it. 657 00:38:24,520 --> 00:38:27,279 Speaker 1: It makes a great um. If you have like a 658 00:38:27,400 --> 00:38:29,560 Speaker 1: Father's Day gift even though it's not Father's Day. Guy. 659 00:38:30,200 --> 00:38:35,319 Speaker 1: Um analysis for me fired by tweet Secretary Asper. Yeah, 660 00:38:35,400 --> 00:38:37,279 Speaker 1: my first analysis is I'm a little worried that you're 661 00:38:37,320 --> 00:38:40,399 Speaker 1: eating French fries while you're drinking coffee. Anyone you got 662 00:38:40,440 --> 00:38:43,160 Speaker 1: you've known me for a while, That's that's the keV diet. 663 00:38:43,520 --> 00:38:45,640 Speaker 1: All I do is eat my fries, drink MC coffee, 664 00:38:45,719 --> 00:38:47,839 Speaker 1: keep going, keep trucking a foot in front of the other. 665 00:38:47,920 --> 00:38:50,759 Speaker 1: Go ahead, buddy, Yeah, I gotta tell you this one 666 00:38:50,960 --> 00:38:52,279 Speaker 1: kind of came out of left field. They caught a 667 00:38:52,320 --> 00:38:55,640 Speaker 1: lot of us by surprise. And we all knew if 668 00:38:55,680 --> 00:38:58,239 Speaker 1: we heard during the break that Secretary Asper have been 669 00:38:58,280 --> 00:39:00,880 Speaker 1: on the outs with President Trump especial he since June one, 670 00:39:01,120 --> 00:39:04,360 Speaker 1: when he had come out vocally against President Trump's desire 671 00:39:04,400 --> 00:39:07,720 Speaker 1: to use the US military and in a fairly public fashion. 672 00:39:08,200 --> 00:39:12,000 Speaker 1: What makes this kind of last minute firing and moving 673 00:39:12,080 --> 00:39:15,640 Speaker 1: Chris Miller over from m CTC where he's a director 674 00:39:15,760 --> 00:39:18,479 Speaker 1: now to be the acting Secretary Defense functionally the fourth 675 00:39:18,600 --> 00:39:21,800 Speaker 1: Secretary of Defense that he's had in four years, is 676 00:39:21,880 --> 00:39:24,080 Speaker 1: that you know, now you've you've taken someone who's bounce 677 00:39:24,120 --> 00:39:26,839 Speaker 1: around DC very rapidly over the last two to three years, 678 00:39:27,080 --> 00:39:29,440 Speaker 1: and he's kind of a caretaker role. So you had 679 00:39:29,480 --> 00:39:32,640 Speaker 1: Secretary Esper, who by all accounts up until June one, 680 00:39:32,880 --> 00:39:37,120 Speaker 1: had retained President Trump's trust and confidence, who obviously has 681 00:39:37,160 --> 00:39:39,560 Speaker 1: been at the helm for the Department of Defense and 682 00:39:39,719 --> 00:39:43,040 Speaker 1: knows how the machinery is currently operating. And during this 683 00:39:43,280 --> 00:39:46,920 Speaker 1: very critical transition phase, is you just reference between one 684 00:39:46,960 --> 00:39:51,160 Speaker 1: administration and to another administration. You've lost the head of 685 00:39:51,200 --> 00:39:53,319 Speaker 1: the Department Defense, and so that's going to cause quite 686 00:39:53,360 --> 00:39:56,560 Speaker 1: a bit of chaos as they seek to move forward 687 00:39:56,640 --> 00:39:59,000 Speaker 1: once this transition kicks off. Is the chaos or is 688 00:39:59,080 --> 00:40:00,960 Speaker 1: it a headache? Do you know what I mean? What? 689 00:40:02,040 --> 00:40:04,480 Speaker 1: Because there's only three months left, But I mean obviously 690 00:40:04,560 --> 00:40:09,399 Speaker 1: the decisions that people at the Pentagon make are incredibly important. Yeah, 691 00:40:09,480 --> 00:40:11,440 Speaker 1: And I think that's the great I'm glad you said that. 692 00:40:11,640 --> 00:40:13,719 Speaker 1: You know, I don't want to overplay the severity of it. 693 00:40:14,000 --> 00:40:16,319 Speaker 1: All that's going to depend on the world gets a vote, right, 694 00:40:16,520 --> 00:40:19,280 Speaker 1: especially when you talk about foreign fairs and national security. 695 00:40:19,400 --> 00:40:21,560 Speaker 1: So if we continue, because we have of the last 696 00:40:21,560 --> 00:40:25,279 Speaker 1: few months where it's been relatively steady knocking on wood, uh, 697 00:40:25,360 --> 00:40:27,600 Speaker 1: then I think he's simply in that caretaker role and 698 00:40:27,719 --> 00:40:29,920 Speaker 1: it's more of a headache. Uh. And it just it 699 00:40:30,040 --> 00:40:33,960 Speaker 1: just compounds the rapid turnover of leadership and senior positions 700 00:40:34,000 --> 00:40:37,040 Speaker 1: within the department sets that's been a just kind of 701 00:40:37,040 --> 00:40:39,200 Speaker 1: a calling card during the Trump administration. It's made it 702 00:40:39,360 --> 00:40:43,360 Speaker 1: very difficult to establish clearly defined policies for the members 703 00:40:43,400 --> 00:40:45,759 Speaker 1: of the national security community and for the military. On 704 00:40:45,840 --> 00:40:49,360 Speaker 1: the other hand, if you see a nation who suddenly 705 00:40:49,520 --> 00:40:53,920 Speaker 1: decides to challenge America abroad, that's where it could become 706 00:40:54,000 --> 00:40:57,440 Speaker 1: squirrely very quickly, and that's going to elevate functionally. General 707 00:40:57,520 --> 00:40:59,240 Speaker 1: Millie as the Chairman of the Joint Chiefs of Staff 708 00:40:59,360 --> 00:41:02,440 Speaker 1: his role very quickly. So let me follow up on that, 709 00:41:02,680 --> 00:41:06,279 Speaker 1: because from a messaging standpoint for folks serving in the 710 00:41:06,360 --> 00:41:11,040 Speaker 1: national intelligence community, what message does this send them today? 711 00:41:11,120 --> 00:41:15,520 Speaker 1: Because is this do you interpret this guy with your 712 00:41:15,600 --> 00:41:18,680 Speaker 1: experience and your level of and who you talked to. 713 00:41:19,600 --> 00:41:23,680 Speaker 1: Is this a policy switch or is this a petty 714 00:41:23,719 --> 00:41:27,439 Speaker 1: grievance aired. I think it's the latter, To be honest 715 00:41:27,520 --> 00:41:29,399 Speaker 1: with you, we heard rumblings about this to the last 716 00:41:29,440 --> 00:41:33,200 Speaker 1: few months. I've heard them, and I gotta be honest, 717 00:41:33,239 --> 00:41:36,000 Speaker 1: I had been transparent here I mean, this is not 718 00:41:36,160 --> 00:41:40,279 Speaker 1: a surprise by any means, because it was almost a 719 00:41:40,360 --> 00:41:44,399 Speaker 1: matter of when or if not when what a matter 720 00:41:44,480 --> 00:41:46,000 Speaker 1: of just when it would happen and not if it 721 00:41:46,000 --> 00:41:48,960 Speaker 1: would happen. Go ahead, guy, Yeah, so I agree with you, 722 00:41:49,040 --> 00:41:50,959 Speaker 1: and that we've all talked about this for several months, 723 00:41:51,040 --> 00:41:53,480 Speaker 1: that we knew again that sexsp was on the Alps 724 00:41:53,560 --> 00:41:55,640 Speaker 1: and and that there was a likelihood he could be fired. 725 00:41:55,680 --> 00:41:59,279 Speaker 1: But again your post with the question why during this 726 00:41:59,440 --> 00:42:01,920 Speaker 1: next day, as you mentioned, you're winding down your administration, 727 00:42:02,080 --> 00:42:04,719 Speaker 1: you know, why make that other than to settle a 728 00:42:04,800 --> 00:42:08,640 Speaker 1: score and possibly air a petty grievance. Um to to 729 00:42:08,840 --> 00:42:11,680 Speaker 1: your point though, I mean before June for Secretary Esper, 730 00:42:11,800 --> 00:42:13,960 Speaker 1: and in fact, there had been that running joke that 731 00:42:14,320 --> 00:42:16,640 Speaker 1: even President Trump himself at the podium at the White 732 00:42:16,680 --> 00:42:19,520 Speaker 1: House called him Yesper right, because he had been widely 733 00:42:19,560 --> 00:42:23,279 Speaker 1: seen as someone who championed President Trump's administrative policies. He 734 00:42:23,400 --> 00:42:26,279 Speaker 1: had facilitated moving money from the Department of Stens to 735 00:42:26,360 --> 00:42:28,440 Speaker 1: fund the Southern border wall. I mean, so there were 736 00:42:28,440 --> 00:42:30,680 Speaker 1: a lot of areas where there was policy alignment, and 737 00:42:30,880 --> 00:42:34,400 Speaker 1: functionally Secretary Asper was seeking to carry that out on 738 00:42:34,480 --> 00:42:36,799 Speaker 1: his path. So Now, no one should read too much 739 00:42:36,800 --> 00:42:39,239 Speaker 1: into a policy difference here. It should, I believe, to 740 00:42:39,400 --> 00:42:42,680 Speaker 1: just be seen as clearing out esper and possibly others 741 00:42:42,760 --> 00:42:45,160 Speaker 1: to follow from the administration who weren't being to be 742 00:42:45,239 --> 00:42:48,560 Speaker 1: sufficiently loyal. On the other hand, to two folks who 743 00:42:48,560 --> 00:42:51,360 Speaker 1: are supporters of the president, they would argue, well, he 744 00:42:51,400 --> 00:42:53,439 Speaker 1: should have been more he should have been more loyal. 745 00:42:53,600 --> 00:42:57,080 Speaker 1: So is he in his right to do this? Well, 746 00:42:57,080 --> 00:42:59,840 Speaker 1: I'm not sure when you say should have been more loyal. 747 00:43:00,000 --> 00:43:06,080 Speaker 1: That's what holds to his ardent supporters. Sure, So you know, 748 00:43:06,120 --> 00:43:08,759 Speaker 1: I think that's where everyone in this administration has found 749 00:43:08,800 --> 00:43:11,360 Speaker 1: themselves at one point or another. And that kind of 750 00:43:11,560 --> 00:43:15,480 Speaker 1: vice right where you have uh utmost loyalty, let's call 751 00:43:15,480 --> 00:43:17,239 Speaker 1: it that for the President of the United States. And 752 00:43:17,280 --> 00:43:19,680 Speaker 1: of course, from a quality standpoint, carrying out the directors 753 00:43:19,680 --> 00:43:21,799 Speaker 1: of the president, you owe the President United States said, 754 00:43:21,800 --> 00:43:23,719 Speaker 1: I mean, you serve it at his pleasure. In this case. 755 00:43:24,320 --> 00:43:26,000 Speaker 1: On the other side, you have rule of law, you 756 00:43:26,080 --> 00:43:28,680 Speaker 1: have what's truly best for an organization. You have that 757 00:43:28,800 --> 00:43:32,600 Speaker 1: advice and council that happens behind closed doors, and sometimes 758 00:43:32,680 --> 00:43:34,640 Speaker 1: we've seen because President Trump likes to be a very 759 00:43:34,760 --> 00:43:39,080 Speaker 1: public leader, he likes to think extemporaneously in the public steer, 760 00:43:39,120 --> 00:43:41,600 Speaker 1: you know, use of Twitter everything else. Sometimes those things 761 00:43:41,640 --> 00:43:43,880 Speaker 1: start to blow pretty rapidly. We've seen even people like 762 00:43:44,200 --> 00:43:47,400 Speaker 1: Attorney General Bill Barr, who have widely held on to 763 00:43:47,640 --> 00:43:51,280 Speaker 1: President Trump's young ear and has has almost near universally 764 00:43:51,320 --> 00:43:54,360 Speaker 1: been praised towards the tail end of the election, suddenly 765 00:43:54,360 --> 00:43:56,120 Speaker 1: he was falling out of favor because he was perceived 766 00:43:56,120 --> 00:43:58,880 Speaker 1: it's not moving quickly enough on some of the investigations 767 00:43:58,960 --> 00:44:01,840 Speaker 1: that the Department of Justice was overseeing. So, you know, 768 00:44:01,920 --> 00:44:04,719 Speaker 1: I think that's where the you know, sectary expert was 769 00:44:04,760 --> 00:44:09,080 Speaker 1: trying to disfuse a very challenging situation. He understand he 770 00:44:09,160 --> 00:44:11,080 Speaker 1: has an obligation to the men and women, the millions 771 00:44:11,120 --> 00:44:13,240 Speaker 1: of men and women in the US military he leads 772 00:44:13,920 --> 00:44:16,520 Speaker 1: to make sure that they retain the trust and confidence 773 00:44:16,520 --> 00:44:18,440 Speaker 1: of the American public. If you recall the very first 774 00:44:18,480 --> 00:44:20,759 Speaker 1: book I wrote, Holding the Line, that was something that 775 00:44:20,880 --> 00:44:22,840 Speaker 1: was a major theme of that book was that the U. 776 00:44:22,960 --> 00:44:25,360 Speaker 1: S Military has long enjoyed the trust and confidence of 777 00:44:25,400 --> 00:44:27,640 Speaker 1: the American public, and you don't want to see it 778 00:44:28,400 --> 00:44:31,000 Speaker 1: being used as a partisan tool. And so both Secretary 779 00:44:31,040 --> 00:44:34,960 Speaker 1: Maddie and Secretary aspert uh and even Secretary Shannihan, who 780 00:44:35,040 --> 00:44:36,880 Speaker 1: was the acting Secretary for a period of time in between. 781 00:44:36,920 --> 00:44:39,080 Speaker 1: The two of them have always, in the back of 782 00:44:39,120 --> 00:44:42,279 Speaker 1: their minds been very sensitive to how the military is 783 00:44:42,320 --> 00:44:45,040 Speaker 1: being used and how it's being perceived in that civilian 784 00:44:45,120 --> 00:44:47,760 Speaker 1: military relationship, because once you lose that trust and confidence 785 00:44:47,760 --> 00:44:49,800 Speaker 1: of the American public, it could take is it's not 786 00:44:49,960 --> 00:44:52,960 Speaker 1: decades to restore and rebuild it. That's a that's an 787 00:44:52,960 --> 00:44:56,480 Speaker 1: incredibly important point, especially to all of the incredibly brave 788 00:44:56,520 --> 00:44:59,360 Speaker 1: men and women and of course families that are impacted 789 00:44:59,480 --> 00:45:03,800 Speaker 1: by by the those decisions. Final questions seconds, President Biden, 790 00:45:04,040 --> 00:45:07,279 Speaker 1: what is a relationship with China look like under a 791 00:45:07,360 --> 00:45:11,839 Speaker 1: Biden administration? Guysgrass, Yeah, so we're gonna We're gonna see 792 00:45:12,000 --> 00:45:14,239 Speaker 1: as soon as he makes his pick and announces who 793 00:45:14,360 --> 00:45:16,120 Speaker 1: his Secretary of Defense nominee is going to be. I 794 00:45:16,160 --> 00:45:18,080 Speaker 1: think that will provide a lot of clarity. So far. 795 00:45:18,200 --> 00:45:21,040 Speaker 1: What we've seen throughout the campaign is it a president 796 00:45:21,120 --> 00:45:25,040 Speaker 1: elect Biden is going to continue to keep the pedal 797 00:45:25,120 --> 00:45:27,680 Speaker 1: down on some of these China discussions, to hold China 798 00:45:27,719 --> 00:45:31,680 Speaker 1: accountable for uh, you know, imposing on territorial and secrety 799 00:45:31,760 --> 00:45:34,120 Speaker 1: of other nations in the end of pacistic and making 800 00:45:34,160 --> 00:45:37,320 Speaker 1: sure that we still restore and maintain a strong relationship 801 00:45:37,400 --> 00:45:40,640 Speaker 1: with South Korea, Japan, Australian others. I think one of 802 00:45:40,680 --> 00:45:42,759 Speaker 1: the names that keeps, you know, floating to the top 803 00:45:43,000 --> 00:45:46,239 Speaker 1: very quickly is Michelle Flournoy. She's seen as one of 804 00:45:46,480 --> 00:45:48,920 Speaker 1: a handful of front runners for that role. She also 805 00:45:49,239 --> 00:45:52,240 Speaker 1: has a um, you know, she wants to be strong 806 00:45:52,360 --> 00:45:54,560 Speaker 1: against China, and I think that once we if we 807 00:45:54,640 --> 00:45:57,399 Speaker 1: do see her formally nominated, uh, we're going to learn 808 00:45:57,560 --> 00:46:01,360 Speaker 1: very quickly what she intends to do. Absolutely. And she is, 809 00:46:01,400 --> 00:46:04,080 Speaker 1: of course the former Deputy Assistant Secretary of Defense for 810 00:46:04,160 --> 00:46:09,080 Speaker 1: Strategy under the Clinton administration administration and the Under Secretary 811 00:46:09,120 --> 00:46:13,680 Speaker 1: Defense for Policy in the Obama administration. Guy, you've been 812 00:46:13,719 --> 00:46:16,920 Speaker 1: taking it easier. You're just ramping up again quickly. So 813 00:46:17,080 --> 00:46:18,719 Speaker 1: I'm ramping up, my friend. It's great to be back 814 00:46:18,760 --> 00:46:22,080 Speaker 1: with your I will call you later, guys. Snogra CEO 815 00:46:22,120 --> 00:46:25,280 Speaker 1: of Defense Analytics, former director comes and chief speech treader 816 00:46:25,360 --> 00:46:28,279 Speaker 1: to former Secretary Madis. I'm Kevin Sirelli. What's on the 817 00:46:28,320 --> 00:46:32,359 Speaker 1: panel's radar that's coming up next? Great song? Great, great song? 818 00:46:32,520 --> 00:46:38,360 Speaker 1: You're listening Bloomberg ND nine one. This is Bloomberg Sound 819 00:46:38,480 --> 00:46:43,000 Speaker 1: On with Kevin Sirel on Bloomberg and one oh five 820 00:46:43,040 --> 00:46:46,440 Speaker 1: point seven FM HD two. My name is Kevin Cirelli. 821 00:46:47,239 --> 00:46:50,920 Speaker 1: I'm the chief Washington correspondent for Bloomberg Television and for 822 00:46:51,080 --> 00:46:55,360 Speaker 1: Bloomberg Radio. Time Now for my favorite part of the program. 823 00:46:56,000 --> 00:46:59,600 Speaker 1: What is on the panel's radar? Uh? Doug hies with 824 00:46:59,640 --> 00:47:01,959 Speaker 1: me for we're deputy chief of staff for former House 825 00:47:02,040 --> 00:47:06,120 Speaker 1: Majority Leader Eric Cancer and former communications director for the 826 00:47:06,320 --> 00:47:10,120 Speaker 1: r n C. Doug, how's Governor Hogan doing? Before I 827 00:47:10,120 --> 00:47:13,440 Speaker 1: ask you what's on your radar? Well? I I think 828 00:47:13,520 --> 00:47:16,480 Speaker 1: he's you know, he's moving in the right direction where 829 00:47:16,520 --> 00:47:18,520 Speaker 1: a lot of other Republicans need to be, which is 830 00:47:19,120 --> 00:47:22,000 Speaker 1: we've got the results. We know that one we can. 831 00:47:22,160 --> 00:47:25,120 Speaker 1: We can say this with confidence and it's not somehow 832 00:47:25,200 --> 00:47:29,040 Speaker 1: an abandonment of President Trump. Pactor stubborn stubborn things and 833 00:47:29,160 --> 00:47:31,200 Speaker 1: we know what they are. So let's let's move forward. 834 00:47:31,239 --> 00:47:32,640 Speaker 1: And I'm glad that he was one of the first 835 00:47:32,680 --> 00:47:35,680 Speaker 1: boys out there. I'm not surprised. Is he gonna run? 836 00:47:35,880 --> 00:47:40,080 Speaker 1: Is he? Is he moving forward to a run? I 837 00:47:40,200 --> 00:47:45,720 Speaker 1: have no idea? All Right, honest. Kendrick Barkoff Lamby, former 838 00:47:45,800 --> 00:47:49,279 Speaker 1: press secretary to the now President elect Joe Biden, and 839 00:47:49,360 --> 00:47:53,920 Speaker 1: a former spokesperson for Senators Bob Casey and Dick Durbin, Kendrew, 840 00:47:53,960 --> 00:47:56,440 Speaker 1: Before I ask you, what's on your radar? Who do 841 00:47:56,520 --> 00:48:02,359 Speaker 1: you think was the biggest winner in the Biden campaign 842 00:48:02,640 --> 00:48:04,439 Speaker 1: in the sense of who's going to have a really 843 00:48:04,680 --> 00:48:09,280 Speaker 1: internal key role in the administration. Who are some names 844 00:48:09,360 --> 00:48:14,120 Speaker 1: that that you think deserves some shout outs. Well, that's 845 00:48:14,160 --> 00:48:16,279 Speaker 1: a good question. I mean, there were so many of them, right, 846 00:48:16,400 --> 00:48:18,480 Speaker 1: there were so many that he surrounded himself with. I 847 00:48:18,560 --> 00:48:21,400 Speaker 1: think you'll see some some names that will sort of resurface. 848 00:48:21,600 --> 00:48:24,320 Speaker 1: Um Ron Klain. I think you'll see back around obviously, 849 00:48:25,320 --> 00:48:28,640 Speaker 1: Kate Bettingfield, who's the communications director and the deputy chief 850 00:48:28,640 --> 00:48:31,480 Speaker 1: of staff. I think you'll see her. Simone Standers obviously 851 00:48:32,320 --> 00:48:35,120 Speaker 1: was really key. She's out there on TV sort of 852 00:48:35,200 --> 00:48:38,000 Speaker 1: talking about this. Um So, I think you'll see a 853 00:48:38,120 --> 00:48:40,759 Speaker 1: few of those those people sort of resurface back in 854 00:48:40,840 --> 00:48:44,600 Speaker 1: the White House as they moved the country forward. All right, now, 855 00:48:44,680 --> 00:48:48,759 Speaker 1: let's get what's on their radar. Doug, what's on your radar? Well, 856 00:48:49,120 --> 00:48:52,120 Speaker 1: my radar is all about stimulus and and whether or 857 00:48:52,160 --> 00:48:54,440 Speaker 1: not there's a COVID relief package that happens in the 858 00:48:54,520 --> 00:48:58,040 Speaker 1: coming weeks or if we have to wait till that 859 00:48:58,160 --> 00:49:01,239 Speaker 1: to happen. And again, as we talked earlier, the contours 860 00:49:01,280 --> 00:49:04,319 Speaker 1: of what that bill may be may differ between now 861 00:49:04,440 --> 00:49:07,719 Speaker 1: and and in the Biden administration. UM, but it will 862 00:49:07,719 --> 00:49:10,000 Speaker 1: be ETI to see if there can be movement on this. Well, 863 00:49:10,080 --> 00:49:12,360 Speaker 1: and I gotta jump in here because it's and and 864 00:49:12,440 --> 00:49:14,360 Speaker 1: we we've talked about this over the last couple of 865 00:49:14,480 --> 00:49:18,200 Speaker 1: days folks on this program. As other countries have grappled 866 00:49:18,239 --> 00:49:22,440 Speaker 1: with this, the UK, Germany, France, but the US surpassed 867 00:49:22,560 --> 00:49:26,680 Speaker 1: ten million cases on Monday and appears poised to hit 868 00:49:26,880 --> 00:49:31,920 Speaker 1: record hospitalizations later this week, with numbers soaring and populous 869 00:49:31,960 --> 00:49:35,160 Speaker 1: Midwest states and along the Mexico border. UM and President 870 00:49:35,200 --> 00:49:38,959 Speaker 1: electro Biden obviously announced a new thirteam member Coronavirus Task Force, 871 00:49:39,440 --> 00:49:43,840 Speaker 1: but New Jersey halted indoor dining after ten PM, and 872 00:49:43,920 --> 00:49:47,360 Speaker 1: New York State is focusing on new hotspots, including the 873 00:49:47,440 --> 00:49:51,080 Speaker 1: Finger Lakes region. I mentioned this is because as states 874 00:49:51,200 --> 00:49:55,680 Speaker 1: continue to see an uptacking cases and as Jersey takes action, 875 00:49:55,760 --> 00:49:57,959 Speaker 1: New York state takes action, and other states are gonna 876 00:49:57,960 --> 00:50:00,600 Speaker 1: have to do that. That could really put pressure on 877 00:50:00,920 --> 00:50:04,320 Speaker 1: lawmakers from those states to try to get to some 878 00:50:04,480 --> 00:50:10,080 Speaker 1: type of an agreement in the lame duck session, right Doug, Yeah, yeah, absolutely. 879 00:50:10,160 --> 00:50:12,160 Speaker 1: And also, you know, Kendra and I last month wrote 880 00:50:12,160 --> 00:50:14,200 Speaker 1: a piece for the Washington Post part one of the 881 00:50:14,239 --> 00:50:16,040 Speaker 1: things that Congress needs to do is it needs to 882 00:50:16,080 --> 00:50:19,960 Speaker 1: make COVID testing mandatory for all lawmakers and staff who 883 00:50:19,960 --> 00:50:22,360 Speaker 1: are going in the capital, not just because members of 884 00:50:22,400 --> 00:50:28,160 Speaker 1: Congress are are at risk. I mean the French environments. Absolutely. 885 00:50:31,360 --> 00:50:33,600 Speaker 1: What we see that happens is a member of Congress 886 00:50:33,680 --> 00:50:36,120 Speaker 1: goes home, they go in airports, they ride trains, and 887 00:50:36,200 --> 00:50:38,720 Speaker 1: they take it, whether they've gotten it from a staffer 888 00:50:38,840 --> 00:50:40,879 Speaker 1: or from another member, they take it back to their 889 00:50:40,880 --> 00:50:43,680 Speaker 1: communities with them. And so one way to help stop 890 00:50:43,760 --> 00:50:46,920 Speaker 1: this spread, and we have continuity of government questions as well, 891 00:50:47,480 --> 00:50:51,120 Speaker 1: is for members of Congress to make mandatory testing for 892 00:50:51,280 --> 00:50:53,279 Speaker 1: all lawmakers and staff who are entering any of the 893 00:50:53,360 --> 00:50:57,280 Speaker 1: Capitol building. I'm so surprised, genuinely surprised that that wasn't 894 00:50:57,480 --> 00:51:01,200 Speaker 1: the case to begin with. Kendra, I'm really um, but 895 00:51:01,719 --> 00:51:04,040 Speaker 1: I could not disagree. I could I could not agree 896 00:51:04,080 --> 00:51:06,239 Speaker 1: with you more. Excuse me, Um. And it's and you 897 00:51:06,320 --> 00:51:08,160 Speaker 1: know to Doug points on this too. I mean it's 898 00:51:08,440 --> 00:51:11,520 Speaker 1: it's it's staffers of the for the you know, senators 899 00:51:11,640 --> 00:51:14,120 Speaker 1: and for the members of Congress. But we're talking about 900 00:51:14,239 --> 00:51:17,959 Speaker 1: cafeteria workers, We're talking about you know, janitors, We're talking 901 00:51:17,960 --> 00:51:20,680 Speaker 1: about you know, the architect of the capital. Folks who 902 00:51:20,719 --> 00:51:24,480 Speaker 1: are not tested for this. The police who stand outside 903 00:51:24,600 --> 00:51:28,359 Speaker 1: or stand inside. Um, the Capitol police aren't tested every day. 904 00:51:28,520 --> 00:51:31,960 Speaker 1: And you know, I think that this has to be done. 905 00:51:32,560 --> 00:51:36,800 Speaker 1: The NBA did a better job than Congress. It is. 906 00:51:37,080 --> 00:51:40,120 Speaker 1: It is remarkable to me that they have nothing in 907 00:51:40,239 --> 00:51:43,719 Speaker 1: place still to test for members of Congress. And we've 908 00:51:43,760 --> 00:51:46,600 Speaker 1: seen that members of Congress are not immune. You know 909 00:51:47,320 --> 00:51:49,440 Speaker 1: that the White House is not immune. And it just 910 00:51:49,560 --> 00:51:53,360 Speaker 1: creates a headaches. I mean, you know, from an efficiency standpoint, 911 00:51:53,640 --> 00:51:57,120 Speaker 1: beyond just the so obvious public health concerns. Kendra, what's 912 00:51:57,120 --> 00:52:01,200 Speaker 1: on your radar? Well? Look, I think one of the 913 00:52:01,280 --> 00:52:03,640 Speaker 1: things that you'll you'll see pretty quickly early on in 914 00:52:03,680 --> 00:52:07,440 Speaker 1: the Biden administration is his work um, both on climate 915 00:52:07,520 --> 00:52:10,359 Speaker 1: change but also racial equality. I think these are things 916 00:52:10,440 --> 00:52:14,320 Speaker 1: that UM, we have seen in the news of late. Obviously, 917 00:52:14,440 --> 00:52:17,600 Speaker 1: climate change is an important issue that we must deal 918 00:52:17,680 --> 00:52:21,839 Speaker 1: with and deal with quickly and expeditiously. But I also 919 00:52:21,920 --> 00:52:23,600 Speaker 1: think that there's a way that we can do that 920 00:52:23,760 --> 00:52:26,880 Speaker 1: to bring back jobs. Um, and it doesn't have to 921 00:52:26,920 --> 00:52:29,600 Speaker 1: be a job killer. So I think you'll see, um 922 00:52:30,040 --> 00:52:33,279 Speaker 1: some things put in place, probably pretty quickly about climate change, 923 00:52:33,320 --> 00:52:39,120 Speaker 1: but also on on racial inequality um and uh, some opportunities, 924 00:52:39,200 --> 00:52:42,839 Speaker 1: some business opportunities, some economic gaps that I think they'll 925 00:52:42,880 --> 00:52:45,520 Speaker 1: look to fill pretty quickly and pretty early on. And 926 00:52:45,600 --> 00:52:47,800 Speaker 1: we should know what I mean. Vice President of Kamala 927 00:52:47,880 --> 00:52:50,520 Speaker 1: Harris going to have a key role there as well. 928 00:52:50,640 --> 00:52:54,760 Speaker 1: I mean, and just uh, an historic moment, an American moment, 929 00:52:54,920 --> 00:52:58,120 Speaker 1: not just a Democratic moment, a historic moment for America. 930 00:52:58,680 --> 00:53:03,400 Speaker 1: The first female by as president Kendra, the first female 931 00:53:03,520 --> 00:53:07,200 Speaker 1: vice president, but the first vice president of color. I 932 00:53:07,280 --> 00:53:10,839 Speaker 1: mean that both of those things are are truly remarkable 933 00:53:11,000 --> 00:53:16,520 Speaker 1: and truly historic. UM. And you know, I think she 934 00:53:16,640 --> 00:53:19,839 Speaker 1: will be given a big role. You know, you saw 935 00:53:20,000 --> 00:53:24,239 Speaker 1: how um uh President Obama gave Joe Biden some really 936 00:53:24,400 --> 00:53:27,440 Speaker 1: important roles of things that he dealt with while he 937 00:53:27,560 --> 00:53:30,799 Speaker 1: was vice president. I think you'll you'll see similar sort 938 00:53:30,840 --> 00:53:33,680 Speaker 1: of relationship between the two where you'll have her being 939 00:53:33,760 --> 00:53:36,560 Speaker 1: put in charge of some critically important things. There's a 940 00:53:36,680 --> 00:53:38,480 Speaker 1: lot of work that needs to be done. All right, 941 00:53:38,520 --> 00:53:40,960 Speaker 1: here's it's all my radar. It's uh, it's about the 942 00:53:41,040 --> 00:53:43,000 Speaker 1: community of Washington, d see, you know. And this is 943 00:53:43,000 --> 00:53:46,279 Speaker 1: a little bit se really soap box embraced yourselves. But 944 00:53:46,360 --> 00:53:48,640 Speaker 1: I was when we were in break over the weekend. 945 00:53:48,840 --> 00:53:50,680 Speaker 1: I was sitting next to Rick Davis. Of course he's 946 00:53:50,719 --> 00:53:53,600 Speaker 1: the Bloomberg Politics contributor Stone Corps Capital, but also the 947 00:53:53,920 --> 00:53:57,160 Speaker 1: former campaign manager to John McCain. He was telling me 948 00:53:57,400 --> 00:54:03,080 Speaker 1: about just the incredible, incredible life legacy of ROBERTA. McCain 949 00:54:03,120 --> 00:54:05,080 Speaker 1: who passed away at a hundred and eight years old 950 00:54:05,719 --> 00:54:11,040 Speaker 1: last week and the funeral service was on uh over 951 00:54:11,120 --> 00:54:14,640 Speaker 1: the weekend on on Saturday, UH and my friend Gretavanncea 952 00:54:14,680 --> 00:54:19,160 Speaker 1: Sastram was also remembering ROBERTA McCain as well, and just 953 00:54:19,320 --> 00:54:22,840 Speaker 1: the legacy that she left behind and someone who really 954 00:54:23,040 --> 00:54:25,640 Speaker 1: was a straight shooter but also just someone who lived 955 00:54:25,680 --> 00:54:27,560 Speaker 1: life to the fullest. I didn't know her personally, but 956 00:54:28,280 --> 00:54:32,759 Speaker 1: based off of Rick and Greta's uh remembering of her, Um, 957 00:54:33,680 --> 00:54:37,520 Speaker 1: you know, it's it's really really remarkable. And she wrote 958 00:54:37,560 --> 00:54:42,040 Speaker 1: a letter to President Lyndon B. Johnson in nineteen sixty 959 00:54:42,080 --> 00:54:44,320 Speaker 1: seven when she and her husband were in London preparing 960 00:54:44,400 --> 00:54:47,680 Speaker 1: for a dinner party at the home of the Iranian ambassador, 961 00:54:47,760 --> 00:54:50,360 Speaker 1: when they learned that their son, John, a Navy pilot 962 00:54:50,400 --> 00:54:53,200 Speaker 1: in Vietnam, have been shot down over Hannoi. As the 963 00:54:53,280 --> 00:54:55,359 Speaker 1: parent of a son, she wrote, who was shot down 964 00:54:55,640 --> 00:54:57,920 Speaker 1: in Hannoi last week and is now a prisoner of war, 965 00:54:58,360 --> 00:55:00,480 Speaker 1: I wonder if you are interested to know that both 966 00:55:00,520 --> 00:55:04,640 Speaker 1: my husband and I back you and your policies in Vietnam. 967 00:55:05,120 --> 00:55:07,640 Speaker 1: One reads so much of other opinions that I just 968 00:55:07,760 --> 00:55:10,400 Speaker 1: hope that you and the people really making the sacrifice 969 00:55:10,480 --> 00:55:12,919 Speaker 1: believe in our country and in you. May God bless 970 00:55:13,040 --> 00:55:16,160 Speaker 1: you and keep you strong in your courage and convictions. 971 00:55:16,239 --> 00:55:19,040 Speaker 1: She was someone, I mean, who was a frequent person 972 00:55:19,280 --> 00:55:24,840 Speaker 1: on the campaign trail during the McCain candidacy um and 973 00:55:25,080 --> 00:55:31,440 Speaker 1: someone who it was just really an incredible force, an 974 00:55:31,480 --> 00:55:36,680 Speaker 1: incredible and incredible force. So here's the ROBERTA. McCain and 975 00:55:36,880 --> 00:55:40,040 Speaker 1: remembering her. Thank you to the panel, and thank you 976 00:55:40,080 --> 00:55:43,880 Speaker 1: to you for listening. I'm Kevin Serling, You're Listening Bloomberg 977 00:55:44,000 --> 00:55:44,640 Speaker 1: nine and one one