1 00:00:00,880 --> 00:00:04,360 Speaker 1: You're listening to the Bloomberg Sound On podcast. Catch us 2 00:00:04,400 --> 00:00:07,560 Speaker 1: live weekdays at one Eastern on Bloomberg dot com, the 3 00:00:07,640 --> 00:00:10,719 Speaker 1: iHeartRadio app, and the Bloomberg Business app, or listen on 4 00:00:10,800 --> 00:00:14,000 Speaker 1: demand wherever you get your podcast. 5 00:00:14,120 --> 00:00:18,440 Speaker 2: Jim Jordan fails again. Welcome to the fastest show in politics, 6 00:00:18,920 --> 00:00:21,840 Speaker 2: as the Republican from Ohio falls short of the votes 7 00:00:21,880 --> 00:00:24,840 Speaker 2: needed to become Speaker of the House in a second 8 00:00:25,000 --> 00:00:28,520 Speaker 2: round that is just now ending. We're joined ahead by 9 00:00:28,520 --> 00:00:32,680 Speaker 2: Congressman Seth Moulton, the Democrat from Massachusetts, with his view 10 00:00:32,720 --> 00:00:35,560 Speaker 2: on the role that Democrats may play in resolving all 11 00:00:35,560 --> 00:00:39,519 Speaker 2: of this, what it means for funding for Israel and 12 00:00:39,600 --> 00:00:42,880 Speaker 2: the US strategy in the Middle East, with insights today 13 00:00:42,920 --> 00:00:46,680 Speaker 2: and analysis from our signature panel. Bloomberg Politics contributors Rick 14 00:00:46,760 --> 00:00:49,640 Speaker 2: Davis and Gdi Shanzano are with us for the hour, 15 00:00:50,000 --> 00:00:52,199 Speaker 2: so let's get right to it as we join you 16 00:00:52,280 --> 00:00:54,680 Speaker 2: live from Washington, and with me at the table is 17 00:00:54,720 --> 00:00:58,000 Speaker 2: Bloomberg Politics editor Laura Davis. And Laura, it's great to 18 00:00:58,000 --> 00:00:59,800 Speaker 2: see you. Thanks for coming in at a very busy 19 00:00:59,800 --> 00:01:02,400 Speaker 2: mon This is just resolving now on the House floor, 20 00:01:02,720 --> 00:01:05,200 Speaker 2: and it appears Jim Jordan is having a worse day 21 00:01:05,240 --> 00:01:10,520 Speaker 2: today than he did yesterday. Twenty two members of the 22 00:01:10,520 --> 00:01:13,880 Speaker 2: Republican Conference voting for someone other than Jim Jordan. Is 23 00:01:13,920 --> 00:01:18,880 Speaker 2: his nomination or trajectory for the speakership dead. 24 00:01:19,800 --> 00:01:21,920 Speaker 3: It is looking like it is heading that way. He 25 00:01:21,959 --> 00:01:23,920 Speaker 3: came off the floor and didn't say what he would 26 00:01:23,959 --> 00:01:27,000 Speaker 3: do in terms of future plans. He did convince a 27 00:01:27,040 --> 00:01:29,440 Speaker 3: couple members to vote for him, but net there were 28 00:01:29,920 --> 00:01:32,679 Speaker 3: more that voted against him this time, so things are 29 00:01:32,680 --> 00:01:35,319 Speaker 3: not trending in the right direction. The real question is 30 00:01:35,440 --> 00:01:38,200 Speaker 3: if not Jordan, then who. There's other names that have 31 00:01:38,240 --> 00:01:41,200 Speaker 3: been floated out there, Kevin Hearn as one example. But 32 00:01:41,280 --> 00:01:43,880 Speaker 3: one of the factions we really see hardening against really 33 00:01:43,920 --> 00:01:46,640 Speaker 3: any Republican is a lot of New York lawmakers are 34 00:01:46,680 --> 00:01:49,240 Speaker 3: banding together and saying we're not going to support anyone 35 00:01:49,520 --> 00:01:53,400 Speaker 3: that doesn't agree with expanding the salt the state and 36 00:01:53,440 --> 00:01:56,920 Speaker 3: local tax deduction, which is a total blast in the past. 37 00:01:56,960 --> 00:01:57,440 Speaker 2: Kind of about a. 38 00:01:57,480 --> 00:01:59,160 Speaker 3: Right field, but this has been a long standing issue 39 00:01:59,200 --> 00:02:01,480 Speaker 3: in the House in these high tax areas, you know, 40 00:02:01,520 --> 00:02:04,680 Speaker 3: southern California, New York City area, I remember those. Those 41 00:02:04,720 --> 00:02:06,680 Speaker 3: are the areas that make the majority for the House 42 00:02:06,720 --> 00:02:09,240 Speaker 3: for whichever party's in charge, and they really like this 43 00:02:09,280 --> 00:02:12,480 Speaker 3: tax deduction, very important to a lot of Bloomberg viewers. 44 00:02:12,240 --> 00:02:14,120 Speaker 2: And readers as well all the time. 45 00:02:15,080 --> 00:02:17,640 Speaker 3: So this is kind of becoming the undercurrent of you know, 46 00:02:17,840 --> 00:02:20,040 Speaker 3: who can be speaker, You got to support this wonky 47 00:02:20,080 --> 00:02:20,639 Speaker 3: tax deduction. 48 00:02:20,680 --> 00:02:22,600 Speaker 2: Wow, if it comes down to salt, that is kind 49 00:02:22,600 --> 00:02:25,800 Speaker 2: of funny considering the level of dysfunction that we're witnessing 50 00:02:25,880 --> 00:02:28,280 Speaker 2: right now. To your point, though, if it's not Jim Jordan, 51 00:02:28,360 --> 00:02:30,720 Speaker 2: who is he going to get a third round, a 52 00:02:30,800 --> 00:02:33,120 Speaker 2: fourth round? How much patience is there to keep doing this. 53 00:02:33,520 --> 00:02:36,280 Speaker 3: The reason there were so much patients with McCarthy is 54 00:02:36,280 --> 00:02:39,080 Speaker 3: because they one, he showed progress on every step. He 55 00:02:39,080 --> 00:02:40,720 Speaker 3: also had a lot of good will built up on 56 00:02:40,760 --> 00:02:42,240 Speaker 3: the party. He had raised money for a lot of 57 00:02:42,240 --> 00:02:45,480 Speaker 3: these people, Jim Jordan, and frankly, any other person that 58 00:02:45,520 --> 00:02:47,400 Speaker 3: could be put up doesn't have that kind of same 59 00:02:47,560 --> 00:02:50,200 Speaker 3: respect among the base of the party and so there's 60 00:02:50,400 --> 00:02:52,480 Speaker 3: less likely to be demand to go, you know, do 61 00:02:52,480 --> 00:02:55,079 Speaker 3: dozens of votes. So we'll see, the House is not 62 00:02:55,160 --> 00:02:56,959 Speaker 3: yet annound if they're going to hold a third vote 63 00:02:57,000 --> 00:02:58,400 Speaker 3: or if someone else is going to jump in the race. 64 00:02:58,440 --> 00:02:59,200 Speaker 3: It's very up in the. 65 00:02:59,120 --> 00:02:59,480 Speaker 4: Air right now. 66 00:02:59,520 --> 00:03:01,400 Speaker 2: It's totally up in the early Even lawmakers that we're 67 00:03:01,400 --> 00:03:03,760 Speaker 2: speaking with off the record have no apparent idea of 68 00:03:03,800 --> 00:03:05,720 Speaker 2: what's going to come next, which has been the case 69 00:03:05,720 --> 00:03:07,880 Speaker 2: for days. Lord, it's kind of an incredible environment that 70 00:03:07,880 --> 00:03:11,720 Speaker 2: we're in here as we then consider the next option, 71 00:03:12,120 --> 00:03:15,800 Speaker 2: which is going with what you got Patrick McHenry Speaker 72 00:03:15,840 --> 00:03:18,320 Speaker 2: pro tem. The idea would be to make him, I 73 00:03:18,320 --> 00:03:21,480 Speaker 2: guess formally elect him as Speaker pro ten, which would 74 00:03:21,480 --> 00:03:25,360 Speaker 2: give him the effective powers of a full blown speaker. 75 00:03:25,639 --> 00:03:27,600 Speaker 2: That would take some Democrats to make it happen, though, 76 00:03:27,600 --> 00:03:28,239 Speaker 2: wouldn't it. 77 00:03:28,240 --> 00:03:30,320 Speaker 3: It would, And one of the things that's being discussed 78 00:03:30,360 --> 00:03:31,960 Speaker 3: right now is, you know, how long would he have 79 00:03:32,120 --> 00:03:35,560 Speaker 3: the more full powers. Of course, you know, the government 80 00:03:35,600 --> 00:03:37,560 Speaker 3: is set to shut down a month from today, so 81 00:03:37,600 --> 00:03:39,280 Speaker 3: that's a key date that people are looking at. There's 82 00:03:39,320 --> 00:03:43,040 Speaker 3: also the White House ascending over Israel Ukraine from a 83 00:03:43,040 --> 00:03:46,000 Speaker 3: package of aid later this week that they're expecting, so 84 00:03:46,000 --> 00:03:49,320 Speaker 3: there's a lot of stuff on their plate. But Democrats 85 00:03:49,360 --> 00:03:51,680 Speaker 3: are going to want something in return in order to 86 00:03:51,760 --> 00:03:54,880 Speaker 3: vote to put up the votes to support McHenry. There 87 00:03:54,960 --> 00:03:57,360 Speaker 3: are certain things that they could you know that McHenry 88 00:03:57,400 --> 00:03:59,080 Speaker 3: could offer, you know, bring up certain bills. You know, 89 00:03:59,200 --> 00:04:02,119 Speaker 3: Ukraine could be that they play here. But there's things 90 00:04:02,120 --> 00:04:03,560 Speaker 3: that they that they want that they're not going to get. 91 00:04:03,600 --> 00:04:05,600 Speaker 3: You know, Democrats are not going to get more seats 92 00:04:05,320 --> 00:04:07,800 Speaker 3: on various committees. You're not going to get a larger budget. 93 00:04:08,040 --> 00:04:09,800 Speaker 3: Those are the kind of things and it just will 94 00:04:09,800 --> 00:04:13,040 Speaker 3: depend away on you know, will Democrats get enough to 95 00:04:13,960 --> 00:04:16,560 Speaker 3: h to have ten members or so go ahead and 96 00:04:16,600 --> 00:04:17,239 Speaker 3: cross the aisle. 97 00:04:17,800 --> 00:04:20,960 Speaker 2: Amazing stuff. I appreciate your joining today, Laura. Next time 98 00:04:20,960 --> 00:04:23,360 Speaker 2: we speak, I suspect everything will have changed, because that's 99 00:04:23,680 --> 00:04:26,000 Speaker 2: the routine that we're getting used to here. She's Bloomberg 100 00:04:26,000 --> 00:04:28,719 Speaker 2: Politics editor and whether us here live on Bloomberg Sound On. 101 00:04:28,760 --> 00:04:30,719 Speaker 2: Great to have you, Laura, and thank you as we 102 00:04:30,800 --> 00:04:33,359 Speaker 2: ad the voice of Congressman Seth Moulton. Even with the 103 00:04:33,400 --> 00:04:37,120 Speaker 2: action happening on the House floor, the Democrat from Massachusetts 104 00:04:37,200 --> 00:04:39,440 Speaker 2: is taking some time for us right now. Congressman, it's 105 00:04:39,440 --> 00:04:41,599 Speaker 2: good to see you. I guess i'll pick up here. 106 00:04:41,640 --> 00:04:42,800 Speaker 2: There a lot of things I want to ask you 107 00:04:42,839 --> 00:04:44,919 Speaker 2: about that we were just discussing with Laura. But this 108 00:04:45,080 --> 00:04:50,280 Speaker 2: idea of a deal with Democrats to give Patrick McHenry 109 00:04:51,000 --> 00:04:54,640 Speaker 2: the full powers of House Speaker. Is that something that 110 00:04:55,480 --> 00:04:56,359 Speaker 2: you would help out in. 111 00:04:57,360 --> 00:05:00,640 Speaker 5: Well's certainly something that I would consider. Obviously, the details of. 112 00:05:00,600 --> 00:05:03,520 Speaker 6: The deal matter here. We don't want to just give the. 113 00:05:03,520 --> 00:05:06,080 Speaker 5: Reins to someone who's going to run away with all 114 00:05:06,120 --> 00:05:09,640 Speaker 5: the horses, but he's I think this is something that's 115 00:05:09,680 --> 00:05:11,080 Speaker 5: being actively discussed. 116 00:05:11,120 --> 00:05:12,760 Speaker 6: I discussed it as recently as. 117 00:05:12,680 --> 00:05:15,719 Speaker 5: About ten minutes ago on the floor of the House, 118 00:05:16,160 --> 00:05:18,760 Speaker 5: because we need to get the House back to functioning. 119 00:05:18,880 --> 00:05:23,240 Speaker 5: I mean, what we're witnessing right now, Joe, is a 120 00:05:23,440 --> 00:05:27,599 Speaker 5: nationwide Republican civil war, you know, playing out across the 121 00:05:27,640 --> 00:05:32,799 Speaker 5: country in a party that's led by an indicted insurrectionist, 122 00:05:33,640 --> 00:05:36,000 Speaker 5: and it's coming to a head right now in the 123 00:05:36,040 --> 00:05:38,440 Speaker 5: House of the House of Representatives in a way that's 124 00:05:38,640 --> 00:05:39,480 Speaker 5: just frozen. 125 00:05:39,600 --> 00:05:40,080 Speaker 6: Congress. 126 00:05:40,080 --> 00:05:44,360 Speaker 5: We are powerless as a United States Congress. That's never 127 00:05:44,440 --> 00:05:49,000 Speaker 5: happened before in American history. And we saw in Israel 128 00:05:49,279 --> 00:05:54,400 Speaker 5: what happened when what happens when your adversaries see political 129 00:05:54,480 --> 00:05:56,160 Speaker 5: dysfunction at. 130 00:05:55,920 --> 00:05:57,520 Speaker 6: Home, they might attack. 131 00:05:57,600 --> 00:06:00,200 Speaker 5: So what's happening right now, this civil war in the 132 00:06:00,240 --> 00:06:04,919 Speaker 5: Republican Party, it's actually a serious risk to our national security. 133 00:06:04,960 --> 00:06:07,080 Speaker 5: That's why it's so important that we come up with 134 00:06:07,200 --> 00:06:11,640 Speaker 5: some solution even if the Republicans can't manage to nominate 135 00:06:11,680 --> 00:06:13,520 Speaker 5: a speaker who could actually get the votes. 136 00:06:15,240 --> 00:06:17,599 Speaker 2: Well, my goodness, how many rounds do you think we're 137 00:06:17,600 --> 00:06:20,360 Speaker 2: in for here? It looks like patients is running thin 138 00:06:20,480 --> 00:06:22,800 Speaker 2: in the Republican conference. And I know, Congressman, that you're 139 00:06:22,800 --> 00:06:25,520 Speaker 2: not in the room for those conversations. But a lot 140 00:06:25,560 --> 00:06:27,760 Speaker 2: of folks are saying Jim Jordan's bid for speaker is 141 00:06:27,800 --> 00:06:28,960 Speaker 2: already dead. Do you agree? 142 00:06:30,240 --> 00:06:31,400 Speaker 6: Well, I certainly hope so. 143 00:06:31,760 --> 00:06:35,280 Speaker 5: I mean, Jim Jordan is one of the most extreme 144 00:06:35,839 --> 00:06:38,840 Speaker 5: members of Congress, not just the Republican Party, just of 145 00:06:38,920 --> 00:06:42,839 Speaker 5: Congress writ large. He's not passed a single piece of 146 00:06:42,920 --> 00:06:46,400 Speaker 5: legislation in the entire time he's been in office. Think 147 00:06:46,400 --> 00:06:48,799 Speaker 5: about that, completely incapable of working. 148 00:06:49,000 --> 00:06:52,000 Speaker 2: I want you to qualify that for us if you can, Congressman, 149 00:06:52,040 --> 00:06:54,600 Speaker 2: because we keep hearing that. Tell our listeners and viewers 150 00:06:55,160 --> 00:06:57,719 Speaker 2: what that actually means. When you look across the island 151 00:06:57,760 --> 00:07:00,400 Speaker 2: you see a member who's never passed a bill, what. 152 00:07:00,320 --> 00:07:02,280 Speaker 5: It means is that he spends all his time doing 153 00:07:02,279 --> 00:07:06,039 Speaker 5: something else, so taking, you know, actually passing legislation, which 154 00:07:06,120 --> 00:07:08,599 Speaker 5: I mean many would argue is our job in Congress 155 00:07:09,000 --> 00:07:12,320 Speaker 5: takes some work. It takes some work building trust with 156 00:07:12,400 --> 00:07:15,400 Speaker 5: your colleagues, both in your party and across the aisle. 157 00:07:16,240 --> 00:07:18,760 Speaker 5: We've been on this show before talking about my bill 158 00:07:19,000 --> 00:07:22,160 Speaker 5: to establish nine to eight eight as a nationwide mental 159 00:07:22,240 --> 00:07:26,120 Speaker 5: health hotline. I had to develop trust with a Republican colleague, 160 00:07:26,120 --> 00:07:28,120 Speaker 5: a veteran Chris Stewart from Utah. 161 00:07:28,400 --> 00:07:29,840 Speaker 6: We had to work very hard to. 162 00:07:29,760 --> 00:07:32,880 Speaker 5: Get it through the Committee of Jurisdiction, to get it 163 00:07:33,320 --> 00:07:35,360 Speaker 5: through not only the House but the Senate, and then 164 00:07:35,440 --> 00:07:38,280 Speaker 5: signed by the President. That all takes time and effort. 165 00:07:38,680 --> 00:07:40,800 Speaker 5: Jim Jordan's never done that, or at least he's never 166 00:07:40,840 --> 00:07:42,880 Speaker 5: done it successfully. He's literally he's been here a lot 167 00:07:42,920 --> 00:07:46,120 Speaker 5: longer than me. He's never passed a single bill that 168 00:07:46,200 --> 00:07:49,200 Speaker 5: he has authored. And yet look at how much time 169 00:07:49,640 --> 00:07:53,080 Speaker 5: he put into trying to undermine the election. 170 00:07:53,560 --> 00:07:57,360 Speaker 6: That tells you a lot about Jim Jordan's priorities. He 171 00:07:57,480 --> 00:08:00,320 Speaker 6: is so extreme that a whole. 172 00:08:00,120 --> 00:08:03,080 Speaker 5: Bunch of his Republican colleagues won't even support him. 173 00:08:04,840 --> 00:08:06,720 Speaker 2: Some folks say, you're talking about the chairman of the 174 00:08:06,760 --> 00:08:09,280 Speaker 2: Judiciary Committee, and that is a slightly different and more 175 00:08:09,280 --> 00:08:11,600 Speaker 2: specialized role, and he is, in fact very busy. Of 176 00:08:11,680 --> 00:08:14,800 Speaker 2: course we know that he's busy on an impeachment inquiry 177 00:08:15,480 --> 00:08:18,880 Speaker 2: into Joe Biden. Congressman, where does that go? Is it 178 00:08:18,920 --> 00:08:22,240 Speaker 2: on ice right now without a speaker or can you 179 00:08:22,240 --> 00:08:23,040 Speaker 2: give us an update? 180 00:08:24,200 --> 00:08:26,000 Speaker 6: No one knows. I mean nothing. 181 00:08:26,040 --> 00:08:29,520 Speaker 5: I mean we're literally doing nothing. Nothing is happening right 182 00:08:29,560 --> 00:08:32,440 Speaker 5: now in Congress. It's a perilous situation to be for 183 00:08:32,559 --> 00:08:36,400 Speaker 5: our government, for our country. That means that we can't 184 00:08:36,440 --> 00:08:40,720 Speaker 5: respond to an emergency. We can't do anything to support 185 00:08:40,760 --> 00:08:45,040 Speaker 5: Israel in this war, or to continue supporting Ukraine in THEIRS. 186 00:08:45,360 --> 00:08:48,480 Speaker 5: We can't even pass a simple resolution that just says, hey, 187 00:08:48,520 --> 00:08:49,280 Speaker 5: we support you. 188 00:08:49,720 --> 00:08:52,040 Speaker 6: I mean the most basic things. And by the way, 189 00:08:52,040 --> 00:08:52,880 Speaker 6: to your comment. 190 00:08:52,640 --> 00:08:57,040 Speaker 5: About Jordan being his new job as Judiciary committee chairman, 191 00:08:58,400 --> 00:09:00,920 Speaker 5: most chairman of committees have ask a lot of bills 192 00:09:00,960 --> 00:09:03,240 Speaker 5: because that's what your job is as a committee chairman 193 00:09:03,240 --> 00:09:03,640 Speaker 5: as well. 194 00:09:03,720 --> 00:09:06,160 Speaker 6: So most people who get that job. 195 00:09:06,000 --> 00:09:08,439 Speaker 5: Have done this, and most chairmen managed to pass a 196 00:09:08,480 --> 00:09:11,040 Speaker 5: lot of bills while they're in that position. 197 00:09:12,320 --> 00:09:16,040 Speaker 2: We're spending time with Congressman Seth Moulton of Massachusetts. You're 198 00:09:16,080 --> 00:09:20,080 Speaker 2: talking about urgent business, urgent needs, which brings us directly 199 00:09:20,080 --> 00:09:22,440 Speaker 2: to the situation in Israel. I'd like to ask you 200 00:09:22,440 --> 00:09:24,400 Speaker 2: about a couple of elements here, Beginning with this one 201 00:09:24,480 --> 00:09:27,480 Speaker 2: hundred billion dollar request for funding that the White House 202 00:09:27,520 --> 00:09:31,240 Speaker 2: is cooking up for not only Israel, but Ukraine, Congressman Taiwan, 203 00:09:31,760 --> 00:09:36,040 Speaker 2: and border security. Do you support that approach considering that 204 00:09:36,200 --> 00:09:38,840 Speaker 2: the government is set to shut down in one month 205 00:09:39,280 --> 00:09:41,880 Speaker 2: and there's no leadership in the majority. 206 00:09:42,040 --> 00:09:44,520 Speaker 5: Yes, I think President Biden is doing the right thing 207 00:09:44,600 --> 00:09:48,280 Speaker 5: to put this package all together and send it to Congress. 208 00:09:48,320 --> 00:09:50,120 Speaker 5: But of course what we should be doing in Congress 209 00:09:50,640 --> 00:09:54,439 Speaker 5: is receiving the President's outline and then debating it and 210 00:09:54,559 --> 00:09:57,079 Speaker 5: amending it, you know, passing this through committee. I sit 211 00:09:57,120 --> 00:10:00,480 Speaker 5: on the House Armed Services Committee. We debate funding packages 212 00:10:00,559 --> 00:10:02,880 Speaker 5: all the time, really down to the details. So we're 213 00:10:03,200 --> 00:10:07,360 Speaker 5: confident that we're spending American taxpayer dollars well, that we're 214 00:10:07,400 --> 00:10:11,240 Speaker 5: investing not just in these wars overseas, but fundamentally investing 215 00:10:11,320 --> 00:10:15,720 Speaker 5: in our own national security by supporting democracies around the globe. 216 00:10:16,160 --> 00:10:18,000 Speaker 6: Those are important debates to be. 217 00:10:18,000 --> 00:10:20,760 Speaker 5: Having in Congress, and of course, once again, we can't 218 00:10:20,760 --> 00:10:24,000 Speaker 5: have those debates. We can't pass this legislation, even if 219 00:10:24,040 --> 00:10:26,600 Speaker 5: the President sends us a package until we get a 220 00:10:26,600 --> 00:10:27,800 Speaker 5: Speaker of the House. 221 00:10:28,679 --> 00:10:31,240 Speaker 2: Well, we consider funding for Israel. You wrote an op 222 00:10:31,440 --> 00:10:34,880 Speaker 2: ed for CNN with the headline Net and Yahoo needs 223 00:10:34,880 --> 00:10:38,880 Speaker 2: an endgame, and you reflect it on your own service. Congressman. 224 00:10:39,360 --> 00:10:42,240 Speaker 2: Most people are aware that you're a combat veteran. You 225 00:10:42,280 --> 00:10:46,319 Speaker 2: serve four tours as a marine in Iraq, and endgame 226 00:10:46,559 --> 00:10:50,240 Speaker 2: is meaningful to you based on your experience. This whole 227 00:10:50,360 --> 00:10:53,080 Speaker 2: trip that we've seen the last twenty four hours with 228 00:10:53,200 --> 00:10:56,520 Speaker 2: President Biden has seen a real shift in sentiment. His 229 00:10:57,280 --> 00:11:01,240 Speaker 2: summit with Arab leaders has been canceled, bait over who 230 00:11:01,320 --> 00:11:04,439 Speaker 2: to blame for the blast at this hospital, and this 231 00:11:04,480 --> 00:11:07,120 Speaker 2: is a real political challenge for him. To what extent 232 00:11:07,320 --> 00:11:10,840 Speaker 2: is he addressing endgame on this journey to Israel. 233 00:11:11,960 --> 00:11:14,720 Speaker 5: Well, what I understand, and I just was on the 234 00:11:14,720 --> 00:11:18,080 Speaker 5: phone with a former Secretary of Defense just an hour 235 00:11:18,200 --> 00:11:20,240 Speaker 5: or so ago, is that there are a lot of 236 00:11:20,280 --> 00:11:23,920 Speaker 5: conversations going on behind the scenes with Israel trying to 237 00:11:24,040 --> 00:11:28,480 Speaker 5: share with Israeli leadership all the lessons that we've learned 238 00:11:28,520 --> 00:11:32,320 Speaker 5: over twenty years of war in Iraq, in Afghanistan, and 239 00:11:32,360 --> 00:11:35,120 Speaker 5: we had some successes those are often forgotten to history, 240 00:11:35,160 --> 00:11:36,960 Speaker 5: but we had an awful lot of failures that we 241 00:11:37,040 --> 00:11:39,920 Speaker 5: know well. One of those, of course, was going into 242 00:11:39,920 --> 00:11:44,400 Speaker 5: Iraq and going into Afghanistan with no plan whatsoever for 243 00:11:44,480 --> 00:11:48,080 Speaker 5: what happens next, what happens the day after you so 244 00:11:48,120 --> 00:11:51,199 Speaker 5: called defeat the enemy. Right, We had a very successful 245 00:11:51,280 --> 00:11:55,240 Speaker 5: invasion of Iraq, remarkably successful it went. It couldn't have 246 00:11:55,240 --> 00:11:58,280 Speaker 5: gotten better in so many ways. And then a few 247 00:11:58,280 --> 00:12:01,800 Speaker 5: months later an insurgency came. I went home from that 248 00:12:02,000 --> 00:12:06,319 Speaker 5: first tour in Iraq after the invasion, literally to march 249 00:12:06,320 --> 00:12:09,520 Speaker 5: in victory parades, and then a few months later I 250 00:12:09,600 --> 00:12:13,640 Speaker 5: was back fighting a vicious insurgency that had started after 251 00:12:13,840 --> 00:12:16,480 Speaker 5: my marine unit left. So there are a lot of 252 00:12:16,600 --> 00:12:19,440 Speaker 5: lessons for us to share with the Israelis. But my 253 00:12:19,520 --> 00:12:21,960 Speaker 5: big concern, and the reason why you know the title 254 00:12:22,000 --> 00:12:24,679 Speaker 5: of the op ed is about the endgame, is that 255 00:12:24,760 --> 00:12:28,439 Speaker 5: I have not heard Prime Minister Nenyahu or any other 256 00:12:28,559 --> 00:12:32,360 Speaker 5: Israeli leaders articulate any ideas for this at all. They 257 00:12:32,400 --> 00:12:35,320 Speaker 5: all say they're going to crush Hamas. Okay, that's going 258 00:12:35,360 --> 00:12:37,040 Speaker 5: to be very hard. We can go into why that's 259 00:12:37,080 --> 00:12:39,920 Speaker 5: going to be hard. But even if you succeed what 260 00:12:40,040 --> 00:12:42,920 Speaker 5: happens next, because if you just go back to the 261 00:12:42,960 --> 00:12:44,720 Speaker 5: status quo, you're. 262 00:12:44,520 --> 00:12:46,079 Speaker 6: Just going to have more terrorist attacks. 263 00:12:46,120 --> 00:12:49,400 Speaker 5: I mean, if you leave Gaza a smoldering mess after 264 00:12:49,440 --> 00:12:53,679 Speaker 5: you crush Hamas, you're just going to recruit more terrorists 265 00:12:53,720 --> 00:12:56,240 Speaker 5: to the cause. You're actually gonna put yourself in a 266 00:12:56,280 --> 00:13:00,800 Speaker 5: worse situation than you find yourselves today. So this is 267 00:13:01,000 --> 00:13:03,360 Speaker 5: very concerning and it's going to be very difficult for 268 00:13:03,480 --> 00:13:04,439 Speaker 5: Israel to get this right. 269 00:13:06,080 --> 00:13:11,200 Speaker 2: President Biden spoke today in Israel about the lessons learned 270 00:13:11,600 --> 00:13:15,320 Speaker 2: from nine to eleven. It was really something and I'm 271 00:13:15,320 --> 00:13:18,520 Speaker 2: guessing this hits home for you personally and the experience 272 00:13:18,600 --> 00:13:21,320 Speaker 2: that you're sharing here, because he talked about some of 273 00:13:21,360 --> 00:13:25,600 Speaker 2: the overreach that the US was responsible for following nine 274 00:13:25,600 --> 00:13:28,199 Speaker 2: to eleven, and his advice was to not be consumed 275 00:13:28,240 --> 00:13:33,280 Speaker 2: by rage. How worried are you about overreach in this case, Congressman, 276 00:13:33,800 --> 00:13:36,960 Speaker 2: where Israel moves to defeat Hamas but also creates a 277 00:13:36,960 --> 00:13:38,520 Speaker 2: new generation of terrorists. 278 00:13:39,280 --> 00:13:42,240 Speaker 6: Well, I mean that's the question. I don't think it's 279 00:13:42,320 --> 00:13:43,160 Speaker 6: quite that simple. 280 00:13:43,920 --> 00:13:47,439 Speaker 5: I think that Israelis have every right to be enraged, 281 00:13:47,440 --> 00:13:50,839 Speaker 5: and frankly, they have every right to kill the perpetrators 282 00:13:50,840 --> 00:13:56,240 Speaker 5: of this vicious, barbaric attack on innocent Israeli kid, it right, 283 00:13:56,280 --> 00:13:59,120 Speaker 5: I mean, that's how you have to respond to some 284 00:13:59,200 --> 00:14:03,680 Speaker 5: acts of terror, taking out what we call the irreconcilable terrorists, 285 00:14:03,720 --> 00:14:07,280 Speaker 5: the terrorists you're never going to convince to behave differently. 286 00:14:06,920 --> 00:14:09,640 Speaker 6: Who just want your death and destruction. You have to 287 00:14:09,679 --> 00:14:10,320 Speaker 6: take them out. 288 00:14:11,120 --> 00:14:15,080 Speaker 5: We had to do that ourselves in Iraq and Afghanistan 289 00:14:15,160 --> 00:14:19,280 Speaker 5: once that insurgency started. Now, by the way, I get 290 00:14:19,320 --> 00:14:22,160 Speaker 5: the fact that the insurgency started largely because of our 291 00:14:22,240 --> 00:14:25,760 Speaker 5: presence there. You can argue that the situation in Israel 292 00:14:25,800 --> 00:14:29,760 Speaker 5: is a bit different with this attack on innocent Israeli 293 00:14:29,880 --> 00:14:32,960 Speaker 5: kids in their beds. But the bottom line is that, 294 00:14:33,240 --> 00:14:35,520 Speaker 5: you know, taking out terris is part of the equation, 295 00:14:35,840 --> 00:14:37,760 Speaker 5: but then you have to win over the rest of 296 00:14:37,760 --> 00:14:41,600 Speaker 5: the population because if you don't do that, you run 297 00:14:41,640 --> 00:14:45,120 Speaker 5: into this problem that we call terrorists mass and General 298 00:14:45,120 --> 00:14:49,760 Speaker 5: Stanley McCrystal, the famed American general, he estimated it was 299 00:14:49,840 --> 00:14:52,880 Speaker 5: ten to one. That means that for every innocent is 300 00:14:53,800 --> 00:14:57,960 Speaker 5: every innocent person, innocent civilian that you kill, you recruit 301 00:14:58,040 --> 00:15:02,360 Speaker 5: about ten terrorists to the cause. And so Israel's got 302 00:15:02,400 --> 00:15:06,240 Speaker 5: to be very careful because every time they have an accident, 303 00:15:06,440 --> 00:15:09,800 Speaker 5: they you know, they try to take out a terrorist, 304 00:15:09,800 --> 00:15:11,560 Speaker 5: but they end up killing some civilians. 305 00:15:12,080 --> 00:15:15,160 Speaker 6: You know, they might take out one terrorist and recruit 306 00:15:15,200 --> 00:15:17,960 Speaker 6: ten more, and that puts them on the wrong side 307 00:15:17,960 --> 00:15:18,520 Speaker 6: of that equation. 308 00:15:19,960 --> 00:15:22,240 Speaker 2: Congressman, I know you need to run in a moment, 309 00:15:22,320 --> 00:15:24,920 Speaker 2: but with the time we have left, you've actually fought 310 00:15:24,920 --> 00:15:29,680 Speaker 2: this battle. What are Israeli soldiers in for when it 311 00:15:29,720 --> 00:15:31,600 Speaker 2: comes to house to house, door to door as we 312 00:15:31,720 --> 00:15:33,960 Speaker 2: keep hearing and fighting an insurgency in Gaza. 313 00:15:34,800 --> 00:15:36,800 Speaker 5: It's a great question, Joe, because we've just talked a 314 00:15:36,840 --> 00:15:42,360 Speaker 5: lot about the risks to this mission of killing innocent civilians, 315 00:15:42,880 --> 00:15:47,600 Speaker 5: and the humanitarian crisis in unfolding in Gaza right now 316 00:15:48,200 --> 00:15:51,560 Speaker 5: is just terrible and it's heartbreaking to see. I mean, 317 00:15:53,320 --> 00:15:56,760 Speaker 5: Israeli kids are innocent in this little Palestinian kids are 318 00:15:56,840 --> 00:15:59,800 Speaker 5: innocent as well, and no one wants to see them. 319 00:16:00,840 --> 00:16:03,480 Speaker 5: We haven't talked about what you just put out there, 320 00:16:03,520 --> 00:16:05,360 Speaker 5: which is what is this going to be like for 321 00:16:05,960 --> 00:16:09,800 Speaker 5: the Israeli kids? Those really kids, right like eighteen nineteen 322 00:16:09,920 --> 00:16:12,920 Speaker 5: year old soldiers who are going to be sent into 323 00:16:12,960 --> 00:16:15,680 Speaker 5: this built up city and the answer. 324 00:16:15,480 --> 00:16:20,720 Speaker 6: Is it is going to be devastating. It's going to 325 00:16:20,760 --> 00:16:22,360 Speaker 6: be incredibly difficult. 326 00:16:22,400 --> 00:16:25,480 Speaker 5: In my op ed on CNN, I shared a story 327 00:16:25,480 --> 00:16:29,320 Speaker 5: of fighting in the urban environment in Iraq and how 328 00:16:29,360 --> 00:16:33,280 Speaker 5: difficult it was just to take over one small two 329 00:16:33,400 --> 00:16:34,360 Speaker 5: story building. 330 00:16:35,000 --> 00:16:35,920 Speaker 6: And you look at Gaza. 331 00:16:36,080 --> 00:16:39,360 Speaker 5: The buildings are ten times as high, you know, ten 332 00:16:39,400 --> 00:16:42,240 Speaker 5: times as many, five times as many people as we 333 00:16:42,280 --> 00:16:44,240 Speaker 5: saw in these Iraqi cities. 334 00:16:44,280 --> 00:16:50,960 Speaker 6: So I mean the mission that Netnya, who is giving 335 00:16:51,040 --> 00:16:54,680 Speaker 6: to these young israel these brave Israeli kids, is. 336 00:16:56,600 --> 00:16:59,760 Speaker 5: Massively difficult, and I think that has to be part 337 00:16:59,760 --> 00:17:03,960 Speaker 5: of sobering discussion about about what we sho what they 338 00:17:03,960 --> 00:17:04,560 Speaker 5: should really do. 339 00:17:04,600 --> 00:17:04,800 Speaker 6: Here. 340 00:17:06,640 --> 00:17:09,760 Speaker 2: Congressman Seth Moulton, we appreciate the time, as always, democrat 341 00:17:09,800 --> 00:17:12,919 Speaker 2: from Massachusetts on the Armed Services Committee, speaking through his 342 00:17:13,000 --> 00:17:14,480 Speaker 2: experience as a combat veteran. 343 00:17:14,520 --> 00:17:14,679 Speaker 6: In her. 344 00:17:14,720 --> 00:17:17,080 Speaker 2: Rocket's good to seize her, and I hope that we'll 345 00:17:17,119 --> 00:17:19,359 Speaker 2: stay in touch as we find our way through this 346 00:17:19,600 --> 00:17:23,920 Speaker 2: speaker's race. Patrick McHenry just gabbled out the session. Jim 347 00:17:24,000 --> 00:17:27,000 Speaker 2: Jordan has lost the second round, and we move into 348 00:17:27,000 --> 00:17:29,280 Speaker 2: this day further without a Speaker of the House. I'm 349 00:17:29,320 --> 00:17:30,920 Speaker 2: Joe Matthew. This is Bloomberg. 350 00:17:34,040 --> 00:17:37,439 Speaker 1: You're listening to the Bloomberg Sound on podcast. Catch the 351 00:17:37,440 --> 00:17:41,320 Speaker 1: program live weekdays at one Eastern on Bloomberg Radio, the 352 00:17:41,400 --> 00:17:44,720 Speaker 1: tune in alf Bloomberg dot Com, and the Bloomberg Business App. 353 00:17:44,880 --> 00:17:47,719 Speaker 1: You can also listen live on Amazon Alexa from our 354 00:17:47,760 --> 00:17:52,240 Speaker 1: flagship New York station Just Say Alexa played Bloomberg eleven thirty. 355 00:17:53,440 --> 00:17:57,160 Speaker 2: It is not getting any easier for Jim Jordan. In fact, 356 00:17:57,240 --> 00:18:03,159 Speaker 2: the Congressman has lost the second round, and it was 357 00:18:03,240 --> 00:18:08,440 Speaker 2: worse than yesterday. The House, at now one twenty three 358 00:18:08,520 --> 00:18:12,720 Speaker 2: pm Washington time, is already in recess. 359 00:18:12,400 --> 00:18:15,199 Speaker 7: No person having received a majority the whole number of 360 00:18:15,280 --> 00:18:19,399 Speaker 7: votes cast by surname. A speaker has not been elected. 361 00:18:20,480 --> 00:18:23,760 Speaker 7: Pursuant to Clause twelve A of Rule one, the Chair 362 00:18:23,800 --> 00:18:26,439 Speaker 7: declares the House in recess. Subject to the call. 363 00:18:26,320 --> 00:18:26,760 Speaker 6: Of the Chair. 364 00:18:30,880 --> 00:18:34,040 Speaker 2: The House has no speaker. As we assemble our panel, 365 00:18:34,080 --> 00:18:37,720 Speaker 2: Rick Davis and Jeanie Shanzano are with us Bloomberg Politics contributors. 366 00:18:37,760 --> 00:18:40,880 Speaker 2: Great to have guys both of you back today. We 367 00:18:40,920 --> 00:18:43,800 Speaker 2: live through one round without you yesterday and now number 368 00:18:43,840 --> 00:18:49,280 Speaker 2: two Rick Jim Jordan lost twenty two Republican members. That's 369 00:18:49,320 --> 00:18:52,600 Speaker 2: two more than yesterday. How many tries will he get. 370 00:18:54,320 --> 00:18:57,400 Speaker 8: Oh, I think it's two and done one. I don't 371 00:18:57,400 --> 00:18:59,439 Speaker 8: think he wants to go through any more of this 372 00:18:59,560 --> 00:19:02,880 Speaker 8: than he has to. He will continue to lose votes 373 00:19:02,920 --> 00:19:05,880 Speaker 8: from what I can tell, in any subsequent round. And 374 00:19:05,960 --> 00:19:08,760 Speaker 8: so I think he even said so today he's going 375 00:19:08,840 --> 00:19:10,919 Speaker 8: to take a pause. They're going to probably have a 376 00:19:10,960 --> 00:19:14,080 Speaker 8: caucus meeting and try to figure out what to do. 377 00:19:14,200 --> 00:19:19,080 Speaker 8: But this is a caucus in utter disarray. It'll be 378 00:19:19,200 --> 00:19:21,440 Speaker 8: really interesting to see what comes out of this. There's 379 00:19:21,520 --> 00:19:24,399 Speaker 8: obviously a lot of energy behind trying to find a 380 00:19:24,480 --> 00:19:29,119 Speaker 8: deal to extend powers to Patrick Mahin, mckenry, the current 381 00:19:29,680 --> 00:19:34,560 Speaker 8: Speaker pro tem Nuke Gingrich, and former Speaker Bayner came 382 00:19:34,600 --> 00:19:38,000 Speaker 8: out yesterday pushing that concept. Democrats like Seth Moulten we 383 00:19:38,200 --> 00:19:42,560 Speaker 8: just interviewed. I think it's a good idea. So if 384 00:19:42,600 --> 00:19:45,520 Speaker 8: we can't find a candidate that can get two hundred 385 00:19:45,560 --> 00:19:47,439 Speaker 8: and seventeen votes, and I don't think we can in 386 00:19:47,480 --> 00:19:51,520 Speaker 8: the Republican side, then that may be the next you know, possible. 387 00:19:53,400 --> 00:19:55,920 Speaker 2: Well, pretty remarkable here we are, Genie. A day later, 388 00:19:55,920 --> 00:19:59,960 Speaker 2: everything has changed again, and Seth Moulton, as Rick references, says, 389 00:20:00,040 --> 00:20:03,200 Speaker 2: he was talking about Patrick McHenry and maybe a deal 390 00:20:03,320 --> 00:20:06,720 Speaker 2: involving Democrats to give full powers of the speakership to 391 00:20:06,760 --> 00:20:09,760 Speaker 2: Patrick McHenry ten minutes before he joined us. Is that 392 00:20:09,800 --> 00:20:10,400 Speaker 2: where we're going? 393 00:20:11,800 --> 00:20:14,960 Speaker 4: You know, that seems the best and maybe the only 394 00:20:15,160 --> 00:20:18,359 Speaker 4: path forward at this point. You know, things are bad. 395 00:20:18,640 --> 00:20:22,719 Speaker 4: I'm listening to this vote and somebody is nominating Candace Miller, 396 00:20:23,000 --> 00:20:25,639 Speaker 4: and I think, who the heck is Candace Miller. She's 397 00:20:25,680 --> 00:20:29,720 Speaker 4: the McComb County Public Works Commissioner. I mean, that's how 398 00:20:29,800 --> 00:20:32,160 Speaker 4: bad things have gotten. I've never heard of her. God 399 00:20:32,200 --> 00:20:35,000 Speaker 4: bless Candace Miller. She got a vote. So they do 400 00:20:35,080 --> 00:20:41,080 Speaker 4: need to seriously consider Republicans and Democrats joining together, extending 401 00:20:41,160 --> 00:20:44,399 Speaker 4: McHenry's powers so that they can move forward with the 402 00:20:44,440 --> 00:20:48,080 Speaker 4: business of the people. Representative Multon made such an important 403 00:20:48,119 --> 00:20:51,800 Speaker 4: point to you. Not only are they frozen, but God forbid, 404 00:20:51,840 --> 00:20:56,080 Speaker 4: there is a crisis in this country. They are absolutely 405 00:20:56,200 --> 00:20:59,879 Speaker 4: unable to address it. And haven't we learned anything for 406 00:21:00,160 --> 00:21:04,159 Speaker 4: watching what has happened is Israel over the last several days, 407 00:21:04,200 --> 00:21:09,880 Speaker 4: several weeks. A government in chaos is terribly dangerous, and 408 00:21:09,960 --> 00:21:12,320 Speaker 4: that is what we are at this point, and the 409 00:21:12,480 --> 00:21:16,200 Speaker 4: entire world knows it, So give mckenry the powers, move 410 00:21:16,280 --> 00:21:19,119 Speaker 4: forward and do the business of the people and sort 411 00:21:19,160 --> 00:21:23,800 Speaker 4: out your business Republicans when you can, Well, what. 412 00:21:23,800 --> 00:21:27,000 Speaker 2: A deal like that include Rick? Or would there be 413 00:21:27,080 --> 00:21:30,320 Speaker 2: a timeline on it? Would this be Democrats saying, great, 414 00:21:30,400 --> 00:21:33,160 Speaker 2: do whatever you have to do. Let's get a cr 415 00:21:33,280 --> 00:21:36,760 Speaker 2: let's fund the government, Let's get these supplemental requests for 416 00:21:36,920 --> 00:21:39,840 Speaker 2: Israel and Ukraine and get it done in the next 417 00:21:40,000 --> 00:21:42,320 Speaker 2: ninety days. Say or is this open ended in which 418 00:21:42,320 --> 00:21:44,480 Speaker 2: he could become speaker permanently? 419 00:21:46,040 --> 00:21:49,040 Speaker 8: I'd start where you finish. It would be nuts to 420 00:21:49,119 --> 00:21:53,520 Speaker 8: do anything but make Patrick McHenry speaker. Right, if he 421 00:21:53,680 --> 00:21:56,960 Speaker 8: has a limit on his powers or his term, he'll 422 00:21:56,960 --> 00:21:59,240 Speaker 8: be shackled by the same dysfunctional Congress. 423 00:21:59,240 --> 00:22:01,520 Speaker 2: It can't occur. Elect a speaker. 424 00:22:01,560 --> 00:22:04,600 Speaker 8: If we're going to open the door and Republicans are 425 00:22:04,600 --> 00:22:06,639 Speaker 8: going to do a deal with Democrats, it needs to 426 00:22:06,640 --> 00:22:09,840 Speaker 8: be for a permanent speaker, and it needs to get 427 00:22:09,920 --> 00:22:13,600 Speaker 8: rid of things like these motions to vacate for one person, 428 00:22:14,119 --> 00:22:16,719 Speaker 8: and it needs to be able to function as a 429 00:22:16,800 --> 00:22:21,280 Speaker 8: true Congress. No limits to the authority other than what 430 00:22:21,359 --> 00:22:24,679 Speaker 8: was prescribed for the speaker. Anything short of that I 431 00:22:24,720 --> 00:22:29,640 Speaker 8: think is an elixir to make dysfunction even more crazy 432 00:22:29,680 --> 00:22:32,480 Speaker 8: than it currently is. And I think the American people 433 00:22:32,480 --> 00:22:35,399 Speaker 8: have sort of had enough with this mess. Once the 434 00:22:35,440 --> 00:22:39,320 Speaker 8: Republicans make a decision that they're going to entertain Democratic 435 00:22:39,400 --> 00:22:42,600 Speaker 8: votes to elect a speaker because they can't do it themselves, 436 00:22:43,760 --> 00:22:45,919 Speaker 8: you need to have some kind of permanence to it. 437 00:22:47,119 --> 00:22:50,360 Speaker 2: Does that become a power sharing agreement? Genie? What would 438 00:22:50,400 --> 00:22:52,600 Speaker 2: Democrats need to pull the lever on this? 439 00:22:54,160 --> 00:22:56,760 Speaker 4: You know, I think something we heard today, in fact, 440 00:22:56,840 --> 00:23:00,880 Speaker 4: when Representative Aguilera was introducing Jim Jeffer. I think one 441 00:23:00,920 --> 00:23:04,919 Speaker 4: thing they will ask for is when this consideration of 442 00:23:04,960 --> 00:23:08,280 Speaker 4: funding for Israel comes up that it includes Ukraine. That's 443 00:23:08,320 --> 00:23:11,720 Speaker 4: going to be a hard pill for some conservative Republicans 444 00:23:11,720 --> 00:23:15,000 Speaker 4: to swallow, but moderate Republicans will be there. I do 445 00:23:15,040 --> 00:23:17,600 Speaker 4: think they are going to ask for things like that 446 00:23:17,600 --> 00:23:21,760 Speaker 4: that they can and should expect that McHenry, if he 447 00:23:22,040 --> 00:23:26,360 Speaker 4: does indeed become a Speaker pro tem with extended powers, 448 00:23:26,840 --> 00:23:29,600 Speaker 4: would be able to offer them because otherwise there's no 449 00:23:29,800 --> 00:23:34,080 Speaker 4: reason for them to go along with this deal. But 450 00:23:34,160 --> 00:23:36,160 Speaker 4: those are the kind of things I think we would 451 00:23:36,280 --> 00:23:39,240 Speaker 4: likely hear about. And you know, I think for Democrats, 452 00:23:39,240 --> 00:23:42,399 Speaker 4: they feel like keeping somebody like Jim Jordan out of 453 00:23:42,440 --> 00:23:45,120 Speaker 4: the speaker chair is a win in and of itself. 454 00:23:45,520 --> 00:23:48,880 Speaker 4: This is a guy that many people feel supported an 455 00:23:48,920 --> 00:23:53,040 Speaker 4: insurrection against the United States. As Moulton was just telling you, 456 00:23:53,119 --> 00:23:55,960 Speaker 4: it's somebody who's been in Congress, never passed a bill. 457 00:23:56,320 --> 00:23:59,920 Speaker 4: His entire focus has not been on governing and legislating. 458 00:24:00,280 --> 00:24:03,720 Speaker 4: It's been on derailing, it's been on stopping. It's been 459 00:24:03,760 --> 00:24:08,199 Speaker 4: on being a the king of oversight and investigation of 460 00:24:08,240 --> 00:24:11,240 Speaker 4: anything democratic. And that's not any way to do the 461 00:24:11,240 --> 00:24:14,080 Speaker 4: business of the people. And I don't think Republican moderates 462 00:24:14,520 --> 00:24:16,760 Speaker 4: or Democrats are going to go for it. That's why 463 00:24:16,760 --> 00:24:19,360 Speaker 4: they feel like this keeping him off of this chair 464 00:24:19,440 --> 00:24:20,880 Speaker 4: or out of this chair right now is a win 465 00:24:20,960 --> 00:24:21,919 Speaker 4: for them. 466 00:24:22,840 --> 00:24:25,080 Speaker 2: For our listeners and viewers who are just joining us, 467 00:24:25,080 --> 00:24:28,639 Speaker 2: here is what Congressman Seth Moulton told us about this 468 00:24:28,760 --> 00:24:33,439 Speaker 2: idea of elevating Patrick McHenry to formally elect him. I 469 00:24:33,440 --> 00:24:36,200 Speaker 2: should say a Speaker pro tem with the powers essentially 470 00:24:36,520 --> 00:24:37,440 Speaker 2: of full speaker well. 471 00:24:37,359 --> 00:24:40,199 Speaker 5: Certainly something that I would consider. Obviously, the details of 472 00:24:40,240 --> 00:24:43,000 Speaker 5: the deal matter here. We don't want to just give 473 00:24:43,040 --> 00:24:45,560 Speaker 5: the reins to someone who's going to run away with 474 00:24:45,600 --> 00:24:49,080 Speaker 5: all the horses, but he's I think this is something 475 00:24:49,119 --> 00:24:52,320 Speaker 5: that's being actively discussed. I discussed it as recently as 476 00:24:52,320 --> 00:24:55,359 Speaker 5: about ten minutes ago on the floor of the House 477 00:24:55,800 --> 00:24:58,400 Speaker 5: because we need to get the House back to functioning. 478 00:25:00,800 --> 00:25:04,680 Speaker 2: The headline on the terminal Rick Davis Jordan says he's 479 00:25:04,760 --> 00:25:07,840 Speaker 2: not dropping out. So I guess I go back to 480 00:25:07,920 --> 00:25:11,320 Speaker 2: my original question here. How many rounds will the conference 481 00:25:11,400 --> 00:25:13,880 Speaker 2: let him get or does he end up being talked 482 00:25:13,920 --> 00:25:15,040 Speaker 2: out of this in the meeting later. 483 00:25:16,320 --> 00:25:19,239 Speaker 8: Yeah, it's it's hard to tell. If the caucus took 484 00:25:19,280 --> 00:25:21,200 Speaker 8: a vote right now and said who do we want 485 00:25:21,240 --> 00:25:23,800 Speaker 8: to nominate? You know, same thing we did on Tuesday, 486 00:25:24,560 --> 00:25:27,480 Speaker 8: my guess is he'd win that vote. There's not a 487 00:25:27,520 --> 00:25:31,040 Speaker 8: there's not a strong opposition to him like a McCarthy 488 00:25:31,200 --> 00:25:34,560 Speaker 8: or like a scalise at this stage, remembering that Scalisee 489 00:25:34,560 --> 00:25:37,200 Speaker 8: beat him on that vote, only to withdraw later that day. 490 00:25:37,320 --> 00:25:42,600 Speaker 8: So he has such a tenuous future as a candidate 491 00:25:42,640 --> 00:25:45,199 Speaker 8: for Speaker that I suspect the caucus at this stage 492 00:25:45,240 --> 00:25:49,439 Speaker 8: is prepared to say just let's wait a minute. So 493 00:25:49,600 --> 00:25:55,120 Speaker 8: I think, regardless of what Jim Jordan says his future 494 00:25:55,240 --> 00:25:58,960 Speaker 8: as a candidate for Speakers is limited. I don't think 495 00:25:59,000 --> 00:26:02,560 Speaker 8: anybody and the Caucus is anxious to see another vote 496 00:26:02,560 --> 00:26:06,399 Speaker 8: taken within the next twenty four hours that would test 497 00:26:06,440 --> 00:26:09,800 Speaker 8: the limits of his strength as a candidate. My guess 498 00:26:09,880 --> 00:26:12,639 Speaker 8: is he would lose even more votes than he lost 499 00:26:12,760 --> 00:26:16,000 Speaker 8: between the last two rounds. So I think it's going 500 00:26:16,040 --> 00:26:17,680 Speaker 8: to be up to the caucas to say, just hold 501 00:26:17,720 --> 00:26:19,960 Speaker 8: on a minute. You know, we've got to break this impass. 502 00:26:20,200 --> 00:26:23,480 Speaker 8: They've only got twenty days before funding for the government 503 00:26:23,520 --> 00:26:26,199 Speaker 8: shuts down. Twenty business days. That's not a lot of 504 00:26:26,240 --> 00:26:29,120 Speaker 8: time to come up with a budget. They originally said, 505 00:26:29,160 --> 00:26:34,119 Speaker 8: the Republicans that they wanted to pass all these spending bills, 506 00:26:34,160 --> 00:26:37,560 Speaker 8: these appropriations bills. They haven't passed one since then, and 507 00:26:37,600 --> 00:26:41,959 Speaker 8: it's been two weeks. So we're entering an existential crisis 508 00:26:42,400 --> 00:26:44,800 Speaker 8: where we don't have a government that can actually pass 509 00:26:44,840 --> 00:26:47,840 Speaker 8: a bill that's going to fund the government. That will 510 00:26:48,000 --> 00:26:51,280 Speaker 8: result in a shutdown, not because of choice, but because 511 00:26:51,280 --> 00:26:52,760 Speaker 8: of lack of functionality. 512 00:26:53,560 --> 00:26:57,080 Speaker 2: Yeah, when Rick Davis says that you should be nervous, Genie, 513 00:26:57,640 --> 00:26:59,520 Speaker 2: we're out of time. But do you think how came 514 00:26:59,600 --> 00:27:02,200 Speaker 2: Jeffrey is already talking to Patrick mckenry. 515 00:27:03,440 --> 00:27:05,480 Speaker 4: I do hope so I don't know why they would 516 00:27:05,520 --> 00:27:07,720 Speaker 4: wait any longer. I think they should have been talking 517 00:27:07,800 --> 00:27:11,040 Speaker 4: over the weekends. So let's hope they are. We've got 518 00:27:11,040 --> 00:27:15,760 Speaker 4: to get beyond this chaos. This chaos helps nobody, all. 519 00:27:15,720 --> 00:27:17,520 Speaker 2: Right, Rick and Genie, stay with us. The President of 520 00:27:17,520 --> 00:27:19,760 Speaker 2: the United States is in Israel right now. We still 521 00:27:19,760 --> 00:27:21,600 Speaker 2: have a lot more to talk about when it comes 522 00:27:21,600 --> 00:27:23,960 Speaker 2: to the visit in this attempt to fund Israel. That 523 00:27:24,119 --> 00:27:27,119 Speaker 2: all comes back to the speakership here in Washington. 524 00:27:27,840 --> 00:27:31,280 Speaker 1: You're listening to the Bloomberg Sound On podcast. Catch us 525 00:27:31,359 --> 00:27:34,520 Speaker 1: Live weekdays at one Eastern on Bloomberg dot Com, the 526 00:27:34,600 --> 00:27:37,720 Speaker 1: iHeartRadio app, and the Bloomberg Business App, or listen on 527 00:27:37,760 --> 00:27:39,760 Speaker 1: demand wherever you get your podcasts. 528 00:27:41,160 --> 00:27:44,119 Speaker 2: The President of the United States delivering a message today 529 00:27:44,160 --> 00:27:48,119 Speaker 2: in Israel, even as we go through this speaker race 530 00:27:48,320 --> 00:27:53,000 Speaker 2: in Washington, d C. No ground invasion yet, and Joe 531 00:27:53,000 --> 00:27:56,040 Speaker 2: Biden took the time in a bilateral meeting with Benjamin 532 00:27:56,080 --> 00:28:00,880 Speaker 2: Nett and Yahoo to urge restraint, talking about the lessons 533 00:28:00,960 --> 00:28:03,040 Speaker 2: learned from nine to eleven. He also addressed the matter 534 00:28:03,080 --> 00:28:06,480 Speaker 2: of the hospital blast that killed hundreds of Palestinians in 535 00:28:06,560 --> 00:28:10,160 Speaker 2: Gaza city. Of course, this became a blame game yesterday. 536 00:28:10,400 --> 00:28:14,520 Speaker 2: First Hamas blamed Israel. Then Israel pointed to a terrorist 537 00:28:14,560 --> 00:28:18,600 Speaker 2: group based in Gaza. President Biden spoke to that today 538 00:28:18,800 --> 00:28:19,560 Speaker 2: from Tel Aviv. 539 00:28:19,680 --> 00:28:21,960 Speaker 9: Based on the information we've seen to date, it appear 540 00:28:21,960 --> 00:28:24,040 Speaker 9: as a result of an aerrant rocket fired by a 541 00:28:24,160 --> 00:28:28,440 Speaker 9: terrorist group in Gaza. The United States on US equivocally 542 00:28:28,560 --> 00:28:32,439 Speaker 9: stands for the protection of civilian life during conflict, and 543 00:28:32,520 --> 00:28:36,080 Speaker 9: I grieve, I truly agree for the families who were 544 00:28:36,160 --> 00:28:37,720 Speaker 9: killed or wounded by this tragedy. 545 00:28:38,720 --> 00:28:41,440 Speaker 2: This reassembl our panel. Rick Davis and Genie Shanzano joined 546 00:28:41,440 --> 00:28:44,600 Speaker 2: Bloomberg Politics contributors. Of course, Genie, this trip got a 547 00:28:44,640 --> 00:28:49,040 Speaker 2: lot more difficult over the past twenty four hours. The 548 00:28:49,080 --> 00:28:52,360 Speaker 2: bombing of the hospital led to a series of events. 549 00:28:52,680 --> 00:28:54,600 Speaker 2: And you know, we don't have to connect the dots 550 00:28:54,640 --> 00:28:56,880 Speaker 2: on all these, but the fact of the matter is 551 00:28:56,920 --> 00:29:00,920 Speaker 2: a summit of Arab leaders was canceled. Has now cut 552 00:29:00,920 --> 00:29:03,320 Speaker 2: his trip short. He'll be back in Washington, we're told, 553 00:29:03,760 --> 00:29:07,160 Speaker 2: or at least on his way back tonight. Talk to 554 00:29:07,240 --> 00:29:11,560 Speaker 2: us about what you've heard and seen so far. As 555 00:29:11,600 --> 00:29:13,240 Speaker 2: the ground shifts beneath his feet. 556 00:29:14,680 --> 00:29:18,280 Speaker 4: Yeah, Joe, you said even before this horrific incident at 557 00:29:18,320 --> 00:29:21,400 Speaker 4: the hospital yesterday, you had said, prior when we heard 558 00:29:21,440 --> 00:29:23,520 Speaker 4: the President was going to be going, that this is 559 00:29:23,600 --> 00:29:27,280 Speaker 4: a high stakes trip for him, and boy has it been. 560 00:29:27,480 --> 00:29:31,280 Speaker 4: I mean, he is really walking a very fine line. 561 00:29:31,760 --> 00:29:34,840 Speaker 4: I think so far he has done the best he could. 562 00:29:34,880 --> 00:29:38,040 Speaker 4: But when you think about it, what is he trying 563 00:29:38,080 --> 00:29:41,800 Speaker 4: to do. He's trying to support Israel. He's trying to 564 00:29:41,880 --> 00:29:46,720 Speaker 4: negotiate some type of hostage release literally rather humanitarian aid, 565 00:29:47,280 --> 00:29:52,080 Speaker 4: and most importantly, perhaps trying to deter Iran from using 566 00:29:52,160 --> 00:29:56,080 Speaker 4: its proxy to expand this war. And all the time, 567 00:29:56,280 --> 00:30:00,440 Speaker 4: it's like this is a ticking time bomb because Israel 568 00:30:00,640 --> 00:30:03,960 Speaker 4: is going to go into Gaza and the President is 569 00:30:04,000 --> 00:30:06,640 Speaker 4: trying to help lay the groundwork so they can enter 570 00:30:07,080 --> 00:30:11,160 Speaker 4: without Iran using its proxies to expand this war. It 571 00:30:11,280 --> 00:30:14,880 Speaker 4: is a very very difficult needle to thread. I'm not 572 00:30:14,920 --> 00:30:17,960 Speaker 4: sure anybody could make that happen, but the President and 573 00:30:18,280 --> 00:30:21,320 Speaker 4: Blincoln they are certainly trying. And I have to to 574 00:30:21,360 --> 00:30:24,640 Speaker 4: say very dismaying to hear what the King of Jordan 575 00:30:24,800 --> 00:30:29,440 Speaker 4: had to say Egypt not opening their borders to these 576 00:30:29,520 --> 00:30:33,360 Speaker 4: refugees from Gaza, even though you know Jordan eighty percent 577 00:30:33,360 --> 00:30:37,000 Speaker 4: of that population is Palestinian. He says it's a red line. 578 00:30:37,040 --> 00:30:39,200 Speaker 4: Don't ask me why he's speaking for Egypt, but he 579 00:30:39,240 --> 00:30:41,760 Speaker 4: says for both Jordan and Egypt it is a red 580 00:30:41,800 --> 00:30:45,560 Speaker 4: line they won't cross. And so these people, the humanitarian 581 00:30:45,600 --> 00:30:47,600 Speaker 4: disaster is only going to escalate. 582 00:30:48,840 --> 00:30:50,960 Speaker 2: Rick, I guess there's no turning around once people know 583 00:30:51,040 --> 00:30:53,680 Speaker 2: you're going, which the presidents still have made this trip 584 00:30:54,280 --> 00:30:56,560 Speaker 2: as the summit was canceled around him. 585 00:30:57,200 --> 00:30:59,320 Speaker 8: Yeah, look, I think this summit is going to be 586 00:30:59,320 --> 00:31:04,080 Speaker 8: a canard or the Arab community. They're reacting to false 587 00:31:04,120 --> 00:31:07,080 Speaker 8: information that they're getting out of the west, out of 588 00:31:07,080 --> 00:31:10,880 Speaker 8: the Gaza strip from Hamas, who you know, have a 589 00:31:10,960 --> 00:31:14,320 Speaker 8: reputation for lying. The Defense Department came out with a 590 00:31:14,360 --> 00:31:18,800 Speaker 8: report that says from their evaluation and this is satellite technology, 591 00:31:19,320 --> 00:31:22,520 Speaker 8: this is all the kinds of abilities they have to 592 00:31:22,600 --> 00:31:25,200 Speaker 8: track these kinds of missiles, that this was a missile 593 00:31:25,280 --> 00:31:28,120 Speaker 8: launch by Hamas. I mean, like this is this is 594 00:31:28,160 --> 00:31:33,360 Speaker 8: a crying shame that the Arab community would believe Hamas 595 00:31:33,480 --> 00:31:40,840 Speaker 8: a international terrorist group versus Israeli and US intelligence and 596 00:31:40,880 --> 00:31:44,440 Speaker 8: defense ministries they're going to look bad in the process. 597 00:31:44,840 --> 00:31:49,960 Speaker 8: It's unfortunate. And one of the foreign policy people for 598 00:31:50,600 --> 00:31:53,720 Speaker 8: one of the Arab communities I forget who said, well, 599 00:31:53,760 --> 00:31:55,680 Speaker 8: we're not going to attend this, We're not gonna have 600 00:31:55,680 --> 00:31:57,720 Speaker 8: this summit because it's not going to end the war. Well, 601 00:31:57,720 --> 00:32:00,560 Speaker 8: it certainly would make the war more palatable and and 602 00:32:00,720 --> 00:32:04,200 Speaker 8: some of the suffering. And I guess in this case 603 00:32:04,240 --> 00:32:08,560 Speaker 8: they've chosen to side with hamas On on the lies 604 00:32:08,640 --> 00:32:10,720 Speaker 8: rather than trying to end some of the suffering. 605 00:32:11,080 --> 00:32:13,040 Speaker 2: Biden's broken through that he was. 606 00:32:13,000 --> 00:32:16,800 Speaker 8: Able to get humanitarian assistants agreed to get through. So 607 00:32:16,840 --> 00:32:19,360 Speaker 8: he's gotten what he wanted to get done, which is 608 00:32:19,440 --> 00:32:21,840 Speaker 8: relieve some of the pressure inside guys on the border. 609 00:32:22,640 --> 00:32:25,640 Speaker 8: And so yeah, I think he's getting what he wanted 610 00:32:25,680 --> 00:32:28,400 Speaker 8: done without the cooperation of his Arab allies. 611 00:32:30,000 --> 00:32:31,800 Speaker 2: Like for you both to listen to what he said 612 00:32:32,240 --> 00:32:35,280 Speaker 2: as he referred to the aftermath of the nine to 613 00:32:35,320 --> 00:32:38,560 Speaker 2: eleven terror attacks. This takes a minute, and we'll hear 614 00:32:38,600 --> 00:32:41,120 Speaker 2: from both of you. This is Joe Biden today and Televion. 615 00:32:41,120 --> 00:32:44,520 Speaker 9: You can't look at what has happened here to your mothers, 616 00:32:44,560 --> 00:32:49,720 Speaker 9: your fathers, your grandparents, sons, daughters, children, even babies, and 617 00:32:49,840 --> 00:32:55,880 Speaker 9: not scream out for justice. Justice must be done. 618 00:32:56,640 --> 00:32:57,480 Speaker 6: But I caution this. 619 00:32:57,600 --> 00:33:02,520 Speaker 9: While you feel that rage, we consume by it. After 620 00:33:02,640 --> 00:33:05,520 Speaker 9: nine to eleven, we were en raised in the United States. 621 00:33:06,520 --> 00:33:09,560 Speaker 9: While we sought justice and God justice, we also made mistakes. 622 00:33:11,040 --> 00:33:14,120 Speaker 9: I'm the first dress president to visit at Israel in 623 00:33:14,240 --> 00:33:18,160 Speaker 9: time of war. I made wartime decisions. I know the 624 00:33:18,240 --> 00:33:22,680 Speaker 9: choices are never clear or easy for the leadership. There's 625 00:33:22,760 --> 00:33:27,960 Speaker 9: always cost, but it requires being delivered, requires asking very 626 00:33:28,000 --> 00:33:33,200 Speaker 9: hard questions. It requires clarity about the objectives and an 627 00:33:33,280 --> 00:33:36,720 Speaker 9: honest assessment about whether the path you're on will achieve 628 00:33:36,760 --> 00:33:37,560 Speaker 9: those objectives. 629 00:33:39,280 --> 00:33:43,200 Speaker 2: Genie, First of all, he sounds exhausted, which has been 630 00:33:43,240 --> 00:33:46,360 Speaker 2: a bit of a theme recently. But how important is 631 00:33:46,400 --> 00:33:49,640 Speaker 2: that message and to what extent can Benjaminett and Yaho 632 00:33:49,800 --> 00:33:50,480 Speaker 2: take that to heart? 633 00:33:51,960 --> 00:33:52,160 Speaker 6: Yeah? 634 00:33:52,520 --> 00:33:55,040 Speaker 4: You know, he and beating Netanyah who It was stunning 635 00:33:55,040 --> 00:33:59,000 Speaker 4: to see them both together, obviously both looking terribly exhausted 636 00:34:00,200 --> 00:34:03,080 Speaker 4: and of course beating it. And yeaho not acting solo anymore. 637 00:34:03,080 --> 00:34:05,360 Speaker 4: He is part of this triumvirate, if you will, this 638 00:34:05,480 --> 00:34:08,839 Speaker 4: war cabinet. And we understand there is some division in 639 00:34:08,920 --> 00:34:11,799 Speaker 4: terms of how they move forward, which may be part 640 00:34:11,880 --> 00:34:14,360 Speaker 4: of the hold up. But you know, I am really 641 00:34:14,400 --> 00:34:18,160 Speaker 4: struck by what Biden had to say because that sounds very, 642 00:34:18,280 --> 00:34:22,760 Speaker 4: very similar to Obama's deputy National Security Advisor Ben Rhoades. 643 00:34:22,800 --> 00:34:26,120 Speaker 4: He's been talking about this over and over again. People 644 00:34:26,200 --> 00:34:29,440 Speaker 4: said he and Obama were, you know, one in the 645 00:34:29,480 --> 00:34:32,440 Speaker 4: same if you will, on foreign policy, and he has 646 00:34:32,480 --> 00:34:35,799 Speaker 4: been saying the same thing the President just said. So 647 00:34:36,280 --> 00:34:40,520 Speaker 4: I hear the President channeling this message. It's an important message. 648 00:34:40,800 --> 00:34:44,600 Speaker 4: But again, just to echo your important conversation to Representative 649 00:34:44,640 --> 00:34:49,560 Speaker 4: multon what does that actually mean? You promise to destroy 650 00:34:49,600 --> 00:34:53,839 Speaker 4: Hamas what then you leave a power vacuum? And the 651 00:34:53,840 --> 00:34:57,600 Speaker 4: President is asking the right questions, But what are the answers? 652 00:34:57,760 --> 00:35:00,400 Speaker 4: Not that the President has to give them, but Israeli 653 00:35:00,400 --> 00:35:02,040 Speaker 4: is going to have to give them, and I don't 654 00:35:02,040 --> 00:35:05,440 Speaker 4: think we've heard those. Yeah, and that is terribly concerning. 655 00:35:06,880 --> 00:35:09,960 Speaker 2: Rick. I'm sorry we only have thirty seconds with what 656 00:35:09,960 --> 00:35:13,719 Speaker 2: we just heard from Joe Biden. Will Israel be consumed 657 00:35:13,760 --> 00:35:14,520 Speaker 2: by rage? 658 00:35:15,800 --> 00:35:15,920 Speaker 1: No? 659 00:35:16,120 --> 00:35:20,560 Speaker 8: I think Israel will extract their call it revenge and 660 00:35:21,360 --> 00:35:23,879 Speaker 8: their top priority will be to get the hostages back, 661 00:35:24,040 --> 00:35:28,200 Speaker 8: and hopefully the two can coexist without too much civilian 662 00:35:28,239 --> 00:35:30,319 Speaker 8: penalty crisis. 663 00:35:31,600 --> 00:35:33,960 Speaker 2: Great analysis from Rick Davis and Jeanie Shanzano. 664 00:35:34,040 --> 00:35:40,719 Speaker 1: As always, you're listening to the Bloomberg Sound On podcast. 665 00:35:41,080 --> 00:35:45,160 Speaker 1: Catch the program live weekdays at one Eastern on Bloomberg Radio, 666 00:35:45,320 --> 00:35:48,080 Speaker 1: the tune in app, Bloomberg dot Com, and the Bloomberg 667 00:35:48,120 --> 00:35:51,400 Speaker 1: Business App. You can also listen live on Amazon Alexa 668 00:35:51,480 --> 00:35:54,839 Speaker 1: from our flagship New York station, Just say Alexa play 669 00:35:54,960 --> 00:35:56,280 Speaker 1: Bloomberg eleven thirty. 670 00:35:58,520 --> 00:36:01,040 Speaker 2: Welcome to our two of bloom Sound On. I'm Joe 671 00:36:01,040 --> 00:36:04,120 Speaker 2: Matthew in Washington, where we're just now reacting to the 672 00:36:04,200 --> 00:36:07,920 Speaker 2: latest failure of Jim Jordan in his quest for speaker. 673 00:36:08,400 --> 00:36:11,919 Speaker 2: Welcome to Kaylee Lines, who's just back from Capitol Hill. 674 00:36:12,000 --> 00:36:14,279 Speaker 2: You are up there in the midst of all the ruckus. 675 00:36:14,560 --> 00:36:16,480 Speaker 2: You're gonna have to get your own office up there 676 00:36:16,520 --> 00:36:19,000 Speaker 2: at some point soon. But it got worse, is kind 677 00:36:19,000 --> 00:36:22,240 Speaker 2: of the headline here. It's twenty two voting for someone 678 00:36:22,280 --> 00:36:23,640 Speaker 2: other than Jim Jordan. 679 00:36:23,880 --> 00:36:26,240 Speaker 10: Correct, he did pick up two votes that he didn't 680 00:36:26,239 --> 00:36:28,920 Speaker 10: have yesterday, but then he lost four votes that he 681 00:36:29,080 --> 00:36:31,719 Speaker 10: had yesterday. So when you add it all up, net 682 00:36:31,760 --> 00:36:35,360 Speaker 10: net two votes worse than the first time around. And 683 00:36:35,360 --> 00:36:38,400 Speaker 10: the question now, Joe, is what happens next. Jim Jordan 684 00:36:38,480 --> 00:36:41,799 Speaker 10: spokesperson said, he's not going to drop out of the race. 685 00:36:41,880 --> 00:36:44,160 Speaker 10: But do they go into conference now, do they hold 686 00:36:44,200 --> 00:36:46,719 Speaker 10: a third vote? Do they just go home and take 687 00:36:46,719 --> 00:36:48,160 Speaker 10: a breather. It's anyone's guest. 688 00:36:47,960 --> 00:36:50,239 Speaker 2: At this point. Well, that is true. I'm sure that 689 00:36:50,320 --> 00:36:54,399 Speaker 2: they don't even know themselves. Rick Davis was telling us 690 00:36:54,440 --> 00:36:57,840 Speaker 2: that this bid for speaker is dead, that Jim Jordan 691 00:36:57,960 --> 00:37:00,680 Speaker 2: will not progress from here, but that doesn't mean they 692 00:37:00,719 --> 00:37:02,359 Speaker 2: won't give him a third round. Maybe they come back 693 00:37:02,360 --> 00:37:04,840 Speaker 2: around later on. It's just not looking good in terms 694 00:37:04,840 --> 00:37:08,240 Speaker 2: of his momentum. Seth Moulton with us a little bit earlier. 695 00:37:08,239 --> 00:37:09,719 Speaker 2: I want to play for you what he said, because 696 00:37:09,719 --> 00:37:13,799 Speaker 2: we talked about this idea of Democrats getting involved in 697 00:37:13,840 --> 00:37:17,640 Speaker 2: elevating or empowering Patrick McHenry to be a real boy 698 00:37:18,160 --> 00:37:21,280 Speaker 2: and have the powers of speaker. He says, they're already 699 00:37:21,280 --> 00:37:23,120 Speaker 2: talking about it. Kayley, here's Seth Moulton. 700 00:37:23,280 --> 00:37:26,800 Speaker 5: Well, it's certainly something that I would consider. Obviously, the details. 701 00:37:26,320 --> 00:37:27,919 Speaker 6: Of the deal matter here. 702 00:37:27,960 --> 00:37:30,160 Speaker 5: We don't want to just give the reins to someone 703 00:37:30,200 --> 00:37:33,080 Speaker 5: who's going to run away with all the horses, but 704 00:37:33,600 --> 00:37:36,920 Speaker 5: he's I think this is something that's being actively discussed. 705 00:37:36,960 --> 00:37:39,600 Speaker 5: I discussed it as recently as about ten minutes ago 706 00:37:39,800 --> 00:37:42,759 Speaker 5: on the floor of the House, because we need to 707 00:37:42,800 --> 00:37:44,600 Speaker 5: get the house back to functioning. 708 00:37:45,800 --> 00:37:49,479 Speaker 2: Ten minutes ago. That was a half hour ago, while 709 00:37:49,520 --> 00:37:51,440 Speaker 2: they were voting. He was having that conversation. 710 00:37:51,760 --> 00:37:54,360 Speaker 10: Well, it's interesting because just a few moments ago on 711 00:37:54,400 --> 00:37:57,360 Speaker 10: the steps of the Capitol a Republican Congressman Brian Donalds 712 00:37:57,400 --> 00:38:00,000 Speaker 10: from Florida who says he is all for Jim George 713 00:38:00,040 --> 00:38:01,960 Speaker 10: and he will continue to support Jim Jordan for as 714 00:38:01,960 --> 00:38:03,880 Speaker 10: many rounds of votes as it takes he thinks Jordan 715 00:38:03,920 --> 00:38:06,560 Speaker 10: will get there. Is very opposed to the idea of 716 00:38:06,600 --> 00:38:09,640 Speaker 10: expanding the powers of Patrick McHenry in pro tem, and 717 00:38:09,680 --> 00:38:12,000 Speaker 10: I think he's not the only Republican that feels that way. 718 00:38:12,120 --> 00:38:14,520 Speaker 10: It's just a question of are there enough Republicans you 719 00:38:14,560 --> 00:38:16,560 Speaker 10: could join with Democrats to make this happen, and we 720 00:38:16,600 --> 00:38:19,560 Speaker 10: just aren't totally sure, as has been so often the 721 00:38:19,600 --> 00:38:20,680 Speaker 10: case in recent weeks. 722 00:38:20,719 --> 00:38:23,160 Speaker 2: Joe of the numbers, I mean, really, it is something 723 00:38:23,160 --> 00:38:25,120 Speaker 2: we're waking up every morning with no idea what's going 724 00:38:25,200 --> 00:38:27,680 Speaker 2: to be in place by the time we go to bed, 725 00:38:28,280 --> 00:38:30,480 Speaker 2: and that's why sound on is essential right now, and 726 00:38:30,480 --> 00:38:32,480 Speaker 2: that's why it's essential to stay in touch with. Libby Cantrell, 727 00:38:32,480 --> 00:38:34,600 Speaker 2: who's been writing about all of this, joins us now 728 00:38:34,640 --> 00:38:37,680 Speaker 2: from New York. Pimcost, head of US Public Policy. Libby, 729 00:38:37,719 --> 00:38:40,600 Speaker 2: welcome back. It's great to have you here as we 730 00:38:40,719 --> 00:38:45,000 Speaker 2: consider the idea of empowering Patrick McHenry. You wrote about 731 00:38:45,000 --> 00:38:47,239 Speaker 2: this in your most recent note to clients, which have 732 00:38:47,320 --> 00:38:50,320 Speaker 2: been flying lately, which we're always keeping an eye out 733 00:38:50,920 --> 00:38:53,600 Speaker 2: for your most recent thoughts on this because it's pretty important. 734 00:38:53,680 --> 00:38:57,239 Speaker 2: Is this something the market would be comfortable with? Is 735 00:38:57,239 --> 00:38:59,319 Speaker 2: it the best case scenario? How do you see it? 736 00:39:01,239 --> 00:39:03,640 Speaker 11: Yeah, I mean I am there. There's been there's been 737 00:39:03,680 --> 00:39:07,480 Speaker 11: a lot of material, needless to say, to write about Joe. Yeah, 738 00:39:07,840 --> 00:39:10,719 Speaker 11: I think the ultimate I mean are kind of our 739 00:39:10,800 --> 00:39:13,640 Speaker 11: view is that the ultimate result, kind of endgame here 740 00:39:14,080 --> 00:39:20,440 Speaker 11: is likely some sort of compromise where Protems Speaker McCarthy 741 00:39:20,920 --> 00:39:23,560 Speaker 11: actually gets elected, and as you point out, he may 742 00:39:23,600 --> 00:39:26,920 Speaker 11: not be able to do that with just Republican votes. 743 00:39:26,960 --> 00:39:30,040 Speaker 11: That might mean that Democrats will have to vote for them. 744 00:39:30,040 --> 00:39:32,560 Speaker 11: And need to be clear, it's not necessarily for a 745 00:39:32,680 --> 00:39:37,200 Speaker 11: permanent speaker position. It's just too effectively give him more 746 00:39:37,239 --> 00:39:40,520 Speaker 11: authorities in his current feat and the House rules as 747 00:39:40,560 --> 00:39:43,160 Speaker 11: you all know, when people's eyes blazed over, but they're 748 00:39:43,160 --> 00:39:47,200 Speaker 11: actually important that an appointed speaker ProTem can do very 749 00:39:47,280 --> 00:39:52,920 Speaker 11: limited things. However, an elected speaker ProTem can basically function 750 00:39:53,239 --> 00:39:56,319 Speaker 11: as for you know, for all intents and purposes, just 751 00:39:56,360 --> 00:39:59,080 Speaker 11: a normal Speaker of the House, including really importantly bringing 752 00:39:59,160 --> 00:40:03,080 Speaker 11: legislation to the House floor. However, I do think it 753 00:40:03,120 --> 00:40:05,960 Speaker 11: may take a while to get there. I do think 754 00:40:06,000 --> 00:40:10,520 Speaker 11: Republicans are likely inclined to exhaust all options on the table. 755 00:40:10,600 --> 00:40:14,040 Speaker 11: That may include a representative Jim Jordan going for a 756 00:40:14,080 --> 00:40:17,359 Speaker 11: third ballot, we'll see, but it also may include, as 757 00:40:17,360 --> 00:40:20,320 Speaker 11: you mentioned, some other folks being nominated to the floor 758 00:40:20,600 --> 00:40:23,360 Speaker 11: and sort of going through this again. So it feels 759 00:40:23,400 --> 00:40:26,000 Speaker 11: like all, you know, sort of arrows are putting in 760 00:40:26,080 --> 00:40:30,680 Speaker 11: the direction ultimately of a speaker ProTem being elected and 761 00:40:30,840 --> 00:40:33,439 Speaker 11: as a result having more authorities. But it may take 762 00:40:33,480 --> 00:40:35,719 Speaker 11: a while to get there, and I get I don't 763 00:40:35,760 --> 00:40:39,680 Speaker 11: think this is necessarily an ideal solution for many Republicans, 764 00:40:39,680 --> 00:40:41,880 Speaker 11: so it will try to avoid it if possible. 765 00:40:43,000 --> 00:40:45,480 Speaker 10: Well, Libby, is this kind of like a continuing resolution, 766 00:40:45,640 --> 00:40:48,120 Speaker 10: but instead of being about funding, it's about being who 767 00:40:48,200 --> 00:40:50,879 Speaker 10: has the gavel, Right, you just give a set date 768 00:40:50,960 --> 00:40:53,960 Speaker 10: that Speaker McCarthy can or Speaker mckenry Speaker pro Tem 769 00:40:54,000 --> 00:40:56,400 Speaker 10: mc henry can act with more powers, and then eventually 770 00:40:56,480 --> 00:40:58,160 Speaker 10: you are still going to have to deal with getting 771 00:40:58,239 --> 00:41:01,239 Speaker 10: someone permanently the gavel and that's still going to be 772 00:41:01,400 --> 00:41:04,520 Speaker 10: just as hard. However, many days or weeks from now. 773 00:41:05,480 --> 00:41:08,239 Speaker 11: Okay, it's like that's a very apt analogy that that's 774 00:41:08,280 --> 00:41:10,640 Speaker 11: exactly what this is. It's basically just to buy more 775 00:41:10,719 --> 00:41:15,960 Speaker 11: time for the Republican Caucus to sort of coalesce around 776 00:41:16,040 --> 00:41:19,240 Speaker 11: you to one one Candida, and that may ultimately be 777 00:41:19,520 --> 00:41:23,480 Speaker 11: a Speaker pro tem mckenry. He's well liked among various 778 00:41:23,520 --> 00:41:27,319 Speaker 11: different factions within the GOP caucus. He is actually well 779 00:41:27,480 --> 00:41:29,680 Speaker 11: liked on the other side of the aisle as well, 780 00:41:30,440 --> 00:41:32,759 Speaker 11: So you know, that could ultimately be sort of the 781 00:41:32,760 --> 00:41:36,440 Speaker 11: resolution here that he becomes the permanent speaker. But it again, 782 00:41:36,719 --> 00:41:39,359 Speaker 11: it may have to kind of go through this sort 783 00:41:39,400 --> 00:41:41,200 Speaker 11: of first step in order to get there. But I 784 00:41:41,200 --> 00:41:43,279 Speaker 11: don't I don't want to prejudge this because, as you 785 00:41:43,280 --> 00:41:45,080 Speaker 11: guys have pointed out, there is. There are a lot 786 00:41:45,120 --> 00:41:48,280 Speaker 11: of moving parts here. It does seem like just talking 787 00:41:48,280 --> 00:41:51,279 Speaker 11: to folks on the hill that Republicans don't want to 788 00:41:51,360 --> 00:41:56,400 Speaker 11: kind of go towards the speaker ProTem enabling them enable mckenry. 789 00:41:56,400 --> 00:41:58,960 Speaker 11: It's sort of a first first step, though I think 790 00:41:58,960 --> 00:42:01,879 Speaker 11: there will be more steps in between now, now, and. 791 00:42:01,800 --> 00:42:04,760 Speaker 2: Then and every time. If you're with us on YouTube, 792 00:42:04,800 --> 00:42:07,560 Speaker 2: you see Patrick McHenry just dropping that gavel with the 793 00:42:07,600 --> 00:42:12,000 Speaker 2: force of nature behind it. I don't know if he's 794 00:42:12,040 --> 00:42:13,800 Speaker 2: going to break that thing if he ends up getting 795 00:42:13,800 --> 00:42:16,399 Speaker 2: it for real, Libby. But let's back up to what's 796 00:42:16,440 --> 00:42:20,720 Speaker 2: actually happening today. Your note to clients made it pretty 797 00:42:20,719 --> 00:42:25,520 Speaker 2: clear Jim Jordan's speaker bid is likely toast. Is that 798 00:42:25,560 --> 00:42:27,160 Speaker 2: still how you see it after round two? 799 00:42:28,200 --> 00:42:30,239 Speaker 11: Yeah, I may should have softened that a little, but 800 00:42:30,760 --> 00:42:34,680 Speaker 11: it is it is, And yeah, I am honest. I'm 801 00:42:34,680 --> 00:42:39,840 Speaker 11: not pulling any punches here, and no disrespect to Representative Jordan. 802 00:42:39,960 --> 00:42:44,000 Speaker 11: It just it is difficult when you go on a 803 00:42:44,000 --> 00:42:48,040 Speaker 11: second ballot and instead of gaining votes, you actually lose 804 00:42:48,200 --> 00:42:51,399 Speaker 11: net votes. And as Haley points out, by it, while 805 00:42:51,440 --> 00:42:55,360 Speaker 11: he gained two folks, he lost four, so net he 806 00:42:55,520 --> 00:42:59,240 Speaker 11: lost two, meaning that he's twenty two, you know, votes away, 807 00:43:00,080 --> 00:43:04,759 Speaker 11: pretty difficult to sorry eighteen votes away from getting that 808 00:43:04,800 --> 00:43:08,399 Speaker 11: magic two seventeen. That's a pretty big hole from which 809 00:43:08,440 --> 00:43:10,799 Speaker 11: to dig out of. And then, you know, Joe, we've 810 00:43:10,840 --> 00:43:13,120 Speaker 11: talked about this before, if he were to try to 811 00:43:13,160 --> 00:43:15,879 Speaker 11: dig out of that meaning kind of twisting arms, what 812 00:43:15,920 --> 00:43:18,759 Speaker 11: deals does he have to make, what promises does he 813 00:43:18,920 --> 00:43:21,399 Speaker 11: have to make? And that could get him very much 814 00:43:21,400 --> 00:43:24,440 Speaker 11: in the same situation that former Speaker McCarthy found himself. 815 00:43:24,440 --> 00:43:27,560 Speaker 11: And so it doesn't feel like a very clear path 816 00:43:28,200 --> 00:43:30,720 Speaker 11: to getting those two seventeen votes. So at this point 817 00:43:31,719 --> 00:43:35,000 Speaker 11: I would say that, yes, his speakership chances are probably 818 00:43:35,040 --> 00:43:36,080 Speaker 11: are probably toast. 819 00:43:37,480 --> 00:43:37,640 Speaker 1: Yeah. 820 00:43:37,760 --> 00:43:42,040 Speaker 10: Libby Congressman Womack, who has voted against Jordan, told our 821 00:43:42,120 --> 00:43:45,680 Speaker 10: colleague Jack Fitzpatrick earlier today that what Jordan and his 822 00:43:45,719 --> 00:43:48,240 Speaker 10: surrogates need to understand is that this isn't like January. 823 00:43:48,280 --> 00:43:51,960 Speaker 10: In January, the holdouts were holding out because of policy concerns. 824 00:43:52,000 --> 00:43:55,920 Speaker 10: Now they're holding out because of concerns about the individual himself, 825 00:43:56,520 --> 00:43:58,719 Speaker 10: Jim Jordan. It kind of feels Libby like all of 826 00:43:58,719 --> 00:44:01,440 Speaker 10: this is personal, and it's personal for everyone who was 827 00:44:01,480 --> 00:44:03,880 Speaker 10: tried and failed to be speaker at this point. 828 00:44:05,400 --> 00:44:07,359 Speaker 11: Yeah, I mean as you as you as you guys know, 829 00:44:07,480 --> 00:44:11,040 Speaker 11: I mean the Speaker of the House plays you know, 830 00:44:11,120 --> 00:44:14,200 Speaker 11: lots of important functions, but one, you know, really critical 831 00:44:14,239 --> 00:44:19,319 Speaker 11: function is a fundraising one. Speaker McCarthy was an incredibly 832 00:44:19,560 --> 00:44:24,160 Speaker 11: productive and successful fundraiser on behalf of the Republican conference 833 00:44:24,239 --> 00:44:27,319 Speaker 11: in the House. Folks would very gladly invite him to 834 00:44:27,440 --> 00:44:30,560 Speaker 11: their districts. I think the hesitation Kylee and kind of 835 00:44:30,560 --> 00:44:32,839 Speaker 11: this is where the personal connection comes in. And then 836 00:44:32,880 --> 00:44:37,120 Speaker 11: do you think folks they're they're hesitant about Representative Jordan 837 00:44:37,800 --> 00:44:40,480 Speaker 11: coming to those districts that kind of are purple, if 838 00:44:40,520 --> 00:44:44,120 Speaker 11: not lean blue, particularly here in New York or in California. 839 00:44:44,480 --> 00:44:46,960 Speaker 11: And so I think there's some reticence about kind of 840 00:44:46,960 --> 00:44:48,799 Speaker 11: the person and some of his votes and some of 841 00:44:48,840 --> 00:44:51,520 Speaker 11: his tactics previously, and how that would kind of go 842 00:44:51,600 --> 00:44:54,759 Speaker 11: over with the with their own donors. So and then 843 00:44:54,840 --> 00:44:56,840 Speaker 11: I think that other folks do have with a personal 844 00:44:57,120 --> 00:44:58,880 Speaker 11: issues with him, just in terms of how you know, 845 00:44:58,960 --> 00:45:02,800 Speaker 11: Representative Jordan may have navigated the whole when Steve's Police 846 00:45:02,800 --> 00:45:06,040 Speaker 11: was nominated. So yes, there are its fews abound, and 847 00:45:06,120 --> 00:45:08,040 Speaker 11: needless to say, but again I think from kind of 848 00:45:08,040 --> 00:45:12,000 Speaker 11: a market's perspective, as we've talked about, because mostly noise, 849 00:45:12,400 --> 00:45:15,360 Speaker 11: mostly noise. But I do think as we get closer 850 00:45:15,800 --> 00:45:18,759 Speaker 11: without a resolution, I think folks do start getting kind 851 00:45:18,760 --> 00:45:21,680 Speaker 11: of nervous that things like the government funding though and 852 00:45:21,719 --> 00:45:23,600 Speaker 11: what have you are just going to go by the wayside, 853 00:45:23,600 --> 00:45:26,320 Speaker 11: and that may increase the chances of a government shutdown. 854 00:45:27,520 --> 00:45:29,840 Speaker 2: So that keeps the market on edge, of course, And 855 00:45:29,880 --> 00:45:32,759 Speaker 2: when you zoom out here Libby, the news on the 856 00:45:32,760 --> 00:45:35,200 Speaker 2: other end of Pennsylvania Avenue is just as difficult with 857 00:45:35,280 --> 00:45:38,719 Speaker 2: President Biden landing in Tel Aviv in a much more 858 00:45:38,719 --> 00:45:42,320 Speaker 2: complex region than it was even twenty four hours earlier, 859 00:45:42,440 --> 00:45:45,760 Speaker 2: with the summit of Arab leaders being canceled, the blast 860 00:45:46,080 --> 00:45:49,800 Speaker 2: in the hospital, the President trying to deliver a message 861 00:45:50,000 --> 00:45:53,480 Speaker 2: of restraint while also supporting Israel at the same time. 862 00:45:53,880 --> 00:45:56,640 Speaker 2: It's getting pretty complicated here. There are a lot of concerns 863 00:45:56,640 --> 00:45:58,520 Speaker 2: as we look at the oil market about what could 864 00:45:58,520 --> 00:46:01,480 Speaker 2: happen in a widening war when you when you consider 865 00:46:01,560 --> 00:46:03,239 Speaker 2: both of these and we can drill down on the 866 00:46:03,280 --> 00:46:05,520 Speaker 2: President's trip a little bit more if you like, but 867 00:46:06,000 --> 00:46:09,320 Speaker 2: the dysfunction on the hill, the situation the administration of 868 00:46:09,360 --> 00:46:13,960 Speaker 2: the US is involved in two aircraft carriers steaming into 869 00:46:13,960 --> 00:46:16,680 Speaker 2: the Eastern Mediterranean. What does the market think? 870 00:46:18,440 --> 00:46:21,840 Speaker 11: Yeah, and this is it basically just adds yet another 871 00:46:22,000 --> 00:46:24,960 Speaker 11: layer of risk. I mean, clearly the market has been 872 00:46:25,000 --> 00:46:29,320 Speaker 11: distracted with lots of things. Uh, the fact that yields, 873 00:46:29,360 --> 00:46:31,560 Speaker 11: treasure yields have backed up so much, the fact that 874 00:46:31,600 --> 00:46:35,040 Speaker 11: their folks are concerned about kind of a natural buyers 875 00:46:35,080 --> 00:46:39,480 Speaker 11: of treasury bonds not necessarily showing up to auctions. And 876 00:46:39,520 --> 00:46:41,640 Speaker 11: then you kind of lay over the sort of the 877 00:46:42,280 --> 00:46:46,960 Speaker 11: domestic dysfunction with the sort of geopolitical tail risk, and 878 00:46:47,000 --> 00:46:50,000 Speaker 11: it is a lot for the market to digest. You 879 00:46:50,040 --> 00:46:52,880 Speaker 11: sort of see the bond vigilanti diet again today kind 880 00:46:52,920 --> 00:46:57,000 Speaker 11: of rearing their their heads once again, while yields are 881 00:46:57,239 --> 00:47:00,560 Speaker 11: are continuing to back up. I think that the real concern, 882 00:47:00,600 --> 00:47:03,680 Speaker 11: of course for the markets, both from a risk perspective 883 00:47:03,719 --> 00:47:07,200 Speaker 11: but also from a commodity's perspective, is if there were 884 00:47:07,280 --> 00:47:11,560 Speaker 11: an expansion or a broadening of this conflict. I mean, 885 00:47:11,600 --> 00:47:14,799 Speaker 11: obviously it's on a humanitarian level just through tragic all 886 00:47:14,840 --> 00:47:16,480 Speaker 11: the way around. But I do think kind of the 887 00:47:16,480 --> 00:47:19,719 Speaker 11: markets that the markets really care about is whether there 888 00:47:19,800 --> 00:47:23,240 Speaker 11: is sort of more direct confrontation of course, between between 889 00:47:23,280 --> 00:47:27,279 Speaker 11: the US and either HEADBLA or or Ron directly. That 890 00:47:27,400 --> 00:47:29,600 Speaker 11: is when the markets I think will start getting would 891 00:47:29,640 --> 00:47:33,440 Speaker 11: get very very concerned. I think that still seems to 892 00:47:33,560 --> 00:47:36,919 Speaker 11: remain a tail risk. It seems that you know, folks 893 00:47:36,960 --> 00:47:39,760 Speaker 11: are being very careful in their language, very careful about 894 00:47:40,200 --> 00:47:44,000 Speaker 11: who was responsible for those tragic terrorist attacks and then 895 00:47:44,040 --> 00:47:47,160 Speaker 11: what have you, particularly as it relates to Iran's role. 896 00:47:47,239 --> 00:47:50,040 Speaker 11: But you know, this is I think yet another tail 897 00:47:50,120 --> 00:47:52,719 Speaker 11: risk for sure that the market would have to sort 898 00:47:52,760 --> 00:47:55,520 Speaker 11: of sort of have to price in, uh, if you 899 00:47:55,640 --> 00:47:56,160 Speaker 11: if you will. 900 00:47:58,120 --> 00:48:01,040 Speaker 10: Yeah, And we know that there are things that markets 901 00:48:01,040 --> 00:48:04,719 Speaker 10: don't like libya An uncertainty first and foremost is at 902 00:48:04,719 --> 00:48:07,800 Speaker 10: the top of that list. So we have uncertainty with 903 00:48:07,840 --> 00:48:11,520 Speaker 10: the geopolitical situation, uncertainty domestically, and yet you don't really 904 00:48:11,560 --> 00:48:15,600 Speaker 10: seem outside of perhaps oil markets, we see much reflected 905 00:48:16,040 --> 00:48:18,640 Speaker 10: in the markets. Yet do you think they're reading this 906 00:48:18,920 --> 00:48:21,880 Speaker 10: correctly at this point given the risks known and unknown? 907 00:48:24,000 --> 00:48:26,920 Speaker 11: Yeah, I mean, you know, oftentimes you do see your 908 00:48:27,040 --> 00:48:31,319 Speaker 11: duration rallying, sort of interest rates acting, the treasury rates 909 00:48:31,360 --> 00:48:34,920 Speaker 11: acting sort of as a safe haven. And we did 910 00:48:34,960 --> 00:48:37,360 Speaker 11: see that for you know you for a few days 911 00:48:37,440 --> 00:48:42,200 Speaker 11: last week, but that is again sort of rewinding or reversing, 912 00:48:42,440 --> 00:48:45,600 Speaker 11: as you know, folks start focusing on other things, including 913 00:48:45,640 --> 00:48:48,560 Speaker 11: the strength of the economy with the retail sales and 914 00:48:48,560 --> 00:48:51,640 Speaker 11: what have you. This week that we're surprisingly strong to 915 00:48:51,719 --> 00:48:56,880 Speaker 11: showing that the consumer remains incredibly robust here in the US. 916 00:48:56,920 --> 00:48:58,839 Speaker 11: So I think it's sorted into a question of what 917 00:48:58,960 --> 00:49:00,879 Speaker 11: markets are focused on right now. I think they're much 918 00:49:00,920 --> 00:49:05,040 Speaker 11: more focused on domestic economic data. They're much more focused 919 00:49:05,080 --> 00:49:06,440 Speaker 11: on what the Fed is saying. We're gonna have a 920 00:49:06,480 --> 00:49:09,480 Speaker 11: lot of Fed speak this week. Chairman Powell will be 921 00:49:09,520 --> 00:49:11,799 Speaker 11: making some remarks also this week. I think folks are 922 00:49:11,880 --> 00:49:14,279 Speaker 11: really going to be focused on that. But all the 923 00:49:14,280 --> 00:49:16,239 Speaker 11: other stuff, I think it's kind of noise until it's 924 00:49:16,280 --> 00:49:18,880 Speaker 11: not right. It's noise until it actually matters. And I 925 00:49:18,920 --> 00:49:23,560 Speaker 11: think the same thing goes for just the dysfunction or 926 00:49:23,560 --> 00:49:27,160 Speaker 11: disunity on Capitol Hill that its debts it or doesn't 927 00:49:27,160 --> 00:49:29,200 Speaker 11: matter until it does. I think the markets are just 928 00:49:29,400 --> 00:49:32,719 Speaker 11: assuming it doesn't matter. But again, as we said, if 929 00:49:32,760 --> 00:49:36,200 Speaker 11: you get closer to that damage backdown deadline, it may 930 00:49:36,239 --> 00:49:39,960 Speaker 11: it may view it just you know, not as much noise, 931 00:49:40,000 --> 00:49:41,040 Speaker 11: but more as a signal. 932 00:49:42,360 --> 00:49:44,879 Speaker 2: No, we've got a month ago to chew on that idea. Libby, 933 00:49:44,920 --> 00:49:47,960 Speaker 2: it's great to see you. Thanks for the analysis. As always, 934 00:49:48,000 --> 00:49:51,160 Speaker 2: it's our pleasure to have Libby Cantrill from PIMCO. You 935 00:49:51,239 --> 00:49:56,719 Speaker 2: mentioned Kaylee Steve Omack, who made very similar remarks to 936 00:49:56,840 --> 00:50:00,360 Speaker 2: CNN earlier today that you mentioned. He was giving the 937 00:50:00,360 --> 00:50:03,520 Speaker 2: Bloomberg earlier about you know, time to give up the ghosts. 938 00:50:03,520 --> 00:50:04,120 Speaker 2: Here's what he. 939 00:50:04,080 --> 00:50:06,839 Speaker 12: Said, nobody in America can get to seventeen right now 940 00:50:06,920 --> 00:50:10,520 Speaker 12: out of the Republican conference. If that becomes apparent to everybody, 941 00:50:10,719 --> 00:50:12,440 Speaker 12: then at some point in time, we're going to have 942 00:50:12,520 --> 00:50:15,319 Speaker 12: to work across the aisle try to figure out what 943 00:50:15,320 --> 00:50:16,920 Speaker 12: it's going to take for us to be able to 944 00:50:16,920 --> 00:50:20,160 Speaker 12: get a speaker elected and then get the ball rolling 945 00:50:20,160 --> 00:50:21,160 Speaker 12: in Congress once again. 946 00:50:22,400 --> 00:50:25,759 Speaker 2: So it's on to Patrick McHenry. It sure seems like, 947 00:50:26,200 --> 00:50:29,520 Speaker 2: but we have to remind our viewers, at listeners, our 948 00:50:29,560 --> 00:50:32,720 Speaker 2: friends here unsound on that literally anything could happen this afternoon. 949 00:50:32,719 --> 00:50:34,520 Speaker 2: They're not even back in that conference meeting yet. 950 00:50:34,719 --> 00:50:36,479 Speaker 10: Yeah, we don't know what will happen over the course 951 00:50:36,520 --> 00:50:41,600 Speaker 10: of the next hour, day, week. It's just incredibly unpredictable 952 00:50:41,640 --> 00:50:43,239 Speaker 10: at this moment, and to his point, we don't know 953 00:50:43,239 --> 00:50:45,439 Speaker 10: if anyone can get two one hundred and seventeen votes. 954 00:50:45,480 --> 00:50:48,279 Speaker 10: Patrick mcginny, possibly he may not included knowing he was 955 00:50:48,320 --> 00:50:51,080 Speaker 10: a very close ally of Kevin McCarthy and helped negotiate 956 00:50:51,120 --> 00:50:53,359 Speaker 10: that debt sealing deal that got everybody mad at him 957 00:50:53,360 --> 00:50:55,560 Speaker 10: in the first place. And ultimately, you know how. 958 00:50:55,400 --> 00:50:59,160 Speaker 2: That lan that thing, Kayleye slammis so hard. Sam put 959 00:50:59,160 --> 00:51:03,080 Speaker 2: that thing on repeat for our viewers on YouTube. The 960 00:51:03,200 --> 00:51:09,080 Speaker 2: wind Up the pitch, Long fly ball to left field. 961 00:51:09,760 --> 00:51:14,439 Speaker 2: I'm Joe Matthew with Kaylee Lyons. This is Bloomberg. Thanks 962 00:51:14,480 --> 00:51:16,600 Speaker 2: for listening to the Sound On podcast. Make sure to 963 00:51:16,600 --> 00:51:19,800 Speaker 2: subscribe if you haven't already, at Apple, Spotify, and anywhere 964 00:51:19,800 --> 00:51:22,200 Speaker 2: else you get your podcasts, and you can find us 965 00:51:22,239 --> 00:51:25,560 Speaker 2: live every weekday from Washington, DC at one pm Eastern 966 00:51:25,640 --> 00:51:29,360 Speaker 2: Time at Bloomberg dot com