1 00:00:02,520 --> 00:00:10,119 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. You're listening to the 2 00:00:10,119 --> 00:00:13,880 Speaker 1: Bloomberg Balance of Power podcast. Catch us live weekdays at 3 00:00:13,920 --> 00:00:17,119 Speaker 1: noon and five pm Eastern on Apple Coarckley and Android 4 00:00:17,160 --> 00:00:20,560 Speaker 1: Auto with the Bloomberg Business App. Listen on demand wherever 5 00:00:20,600 --> 00:00:25,760 Speaker 1: you get your podcasts, or watch us live on YouTube. 6 00:00:25,480 --> 00:00:27,360 Speaker 2: Live from the Nation's Capital. It's good to see you. 7 00:00:27,400 --> 00:00:29,400 Speaker 2: Thanks for spending part of your Thursday with us here 8 00:00:29,440 --> 00:00:32,239 Speaker 2: as we track votes in the Senate today. We'll be 9 00:00:32,280 --> 00:00:34,559 Speaker 2: talking about this more in a couple of minutes when 10 00:00:34,560 --> 00:00:38,400 Speaker 2: we're joined by Congressman Brendan Boyle Congresswoman Nicole Malia Takis. 11 00:00:38,440 --> 00:00:41,440 Speaker 2: Of course, they're watching this happen from the House, where 12 00:00:41,440 --> 00:00:44,120 Speaker 2: there is no consensus on a healthcare bill, which is 13 00:00:44,240 --> 00:00:49,000 Speaker 2: something we'll discuss here. Both the Democratic and Republican versions 14 00:00:49,520 --> 00:00:51,520 Speaker 2: of healthcare that are going to get voted on today 15 00:00:51,520 --> 00:00:54,640 Speaker 2: in the Senate are apparently doa. They're set to fail, 16 00:00:54,760 --> 00:00:59,480 Speaker 2: knowing that Obamacare premiums will begin rising after the end 17 00:00:59,520 --> 00:01:01,880 Speaker 2: of this month. That's when the expiration of the COVID 18 00:01:01,920 --> 00:01:05,559 Speaker 2: era enhanced subsidies hits. One of the other major stories 19 00:01:05,560 --> 00:01:09,839 Speaker 2: that we're following here is the seizure of an oil 20 00:01:09,920 --> 00:01:14,880 Speaker 2: tanker in the Caribbean. Venezuela is accusing the United States 21 00:01:14,920 --> 00:01:19,679 Speaker 2: of America of piracy, calling it a blatant theft. As 22 00:01:19,800 --> 00:01:23,039 Speaker 2: US forces intercept and sees a sanctioned oil taker off 23 00:01:23,080 --> 00:01:27,080 Speaker 2: the coast of Venezuela. President Trump confirmed what was originally 24 00:01:27,120 --> 00:01:29,759 Speaker 2: a Bloomberg exclusive on this when he talked to reporters 25 00:01:29,760 --> 00:01:30,399 Speaker 2: at the White House. 26 00:01:30,440 --> 00:01:35,760 Speaker 3: Listen the World Fund ship. 27 00:01:35,680 --> 00:01:36,440 Speaker 2: Well, we keep it. 28 00:01:36,480 --> 00:01:41,640 Speaker 4: I guess when you have to follow the tanker. You know, 29 00:01:41,720 --> 00:01:45,560 Speaker 4: hear good news, but just follow the tanker. Follow, follow it. 30 00:01:45,640 --> 00:01:49,440 Speaker 4: Get a helicopter, follow the tanker. We're going to I 31 00:01:49,600 --> 00:01:54,360 Speaker 4: assume we're going to keep the I assume we're going 32 00:01:54,440 --> 00:01:55,120 Speaker 4: to keep the oil. 33 00:01:55,280 --> 00:01:57,720 Speaker 2: He says. We might need to update that at some 34 00:01:57,880 --> 00:02:02,320 Speaker 2: point here. As the Attorney General Pam Bondi, goes to 35 00:02:02,400 --> 00:02:06,600 Speaker 2: social media with actual video of the seizure, you see 36 00:02:06,640 --> 00:02:11,040 Speaker 2: a military helicopter lowering itself to the deck, just hovering 37 00:02:11,080 --> 00:02:13,280 Speaker 2: above the deck of this tanker. If you're with us 38 00:02:13,280 --> 00:02:16,959 Speaker 2: on TV, was showing you this. Now, as special forces 39 00:02:17,040 --> 00:02:21,720 Speaker 2: repel out of the chopper and take control of the ship, 40 00:02:22,160 --> 00:02:25,240 Speaker 2: there was no resistance to answer questions we had last 41 00:02:25,240 --> 00:02:28,720 Speaker 2: evening from the crew. There were no casualties, and apparently 42 00:02:28,720 --> 00:02:32,560 Speaker 2: we are now in possession of this stateless ship, as 43 00:02:32,600 --> 00:02:34,760 Speaker 2: it's being referred to by the administration. Let's go to 44 00:02:34,760 --> 00:02:36,360 Speaker 2: the White House right now for the latest on this. 45 00:02:37,000 --> 00:02:40,480 Speaker 2: Bloomberg Washington correspondent Tyler Kendall is on the North lawn. 46 00:02:40,720 --> 00:02:42,760 Speaker 2: Looks like we got ourselves a new boat here, Tyler, 47 00:02:42,760 --> 00:02:43,640 Speaker 2: what are we going to do with it? 48 00:02:44,800 --> 00:02:46,840 Speaker 5: Yeah, well, Joe, we'll have to wait and see. You 49 00:02:46,919 --> 00:02:49,399 Speaker 5: heard the president there. But of course this really does 50 00:02:49,480 --> 00:02:53,600 Speaker 5: mark a significant escalation and the tensions between the two countries, 51 00:02:53,639 --> 00:02:56,120 Speaker 5: as the US has now taken aim with its pressure 52 00:02:56,160 --> 00:03:00,240 Speaker 5: campaign at the heart of Venezuela's oil based economy. Now 53 00:03:00,240 --> 00:03:03,360 Speaker 5: we're talking about this vessel. Just for some context here, 54 00:03:03,600 --> 00:03:07,080 Speaker 5: this vessel was well known by US authorities for years. 55 00:03:07,120 --> 00:03:08,960 Speaker 5: It has been considered to be part of what's known 56 00:03:09,000 --> 00:03:12,000 Speaker 5: as the Dark Fleet that helps to support Venezuelan but 57 00:03:12,040 --> 00:03:17,280 Speaker 5: also Iranian crude exports. This specific vessel can hold up 58 00:03:17,320 --> 00:03:21,279 Speaker 5: to two million barrels of oil when it comes to capacity, 59 00:03:21,320 --> 00:03:23,600 Speaker 5: and analysts say that this really could mark some warning 60 00:03:23,680 --> 00:03:26,840 Speaker 5: signs for other suppliers who may now be reluctant to 61 00:03:27,040 --> 00:03:30,720 Speaker 5: load up their cargos with Venezuelan exports. Just for some 62 00:03:30,800 --> 00:03:33,440 Speaker 5: context here, I pulled the data. On average, Venezuela was 63 00:03:33,480 --> 00:03:36,960 Speaker 5: exporting about seven hundred and fifty thousand barrels of oil 64 00:03:37,040 --> 00:03:40,040 Speaker 5: per day last year, and nearly half of that does 65 00:03:40,120 --> 00:03:42,280 Speaker 5: go to China. So we're going to be watching really 66 00:03:42,720 --> 00:03:45,400 Speaker 5: closely how this ultimately develops, because, as you have been 67 00:03:45,440 --> 00:03:49,160 Speaker 5: following closely, this is just the latest pressure point from 68 00:03:49,280 --> 00:03:53,720 Speaker 5: this US campaign, which has included a massive military presence 69 00:03:53,720 --> 00:03:57,520 Speaker 5: build up in the Caribbean, now twenty strikes against alleged 70 00:03:57,720 --> 00:04:00,520 Speaker 5: drug boats, and Joe Our analysts have Bloomberg can say 71 00:04:00,520 --> 00:04:03,560 Speaker 5: that the administration has been saying that many of these 72 00:04:04,400 --> 00:04:07,400 Speaker 5: measures have been aimed at curbing the flow of drug 73 00:04:07,440 --> 00:04:10,640 Speaker 5: trafficking into the US, But really the underlying message here 74 00:04:10,720 --> 00:04:14,040 Speaker 5: is it is turning the screws on Nicholas Murduro. President 75 00:04:14,080 --> 00:04:16,960 Speaker 5: Trump had said that Marduro's days are numbered in an 76 00:04:17,040 --> 00:04:19,480 Speaker 5: interview earlier this week, though decline to say how far 77 00:04:19,520 --> 00:04:21,680 Speaker 5: he would go to remove him from power. But of course, 78 00:04:21,720 --> 00:04:25,000 Speaker 5: as you well know, the idea of potential land strikes 79 00:04:25,040 --> 00:04:27,159 Speaker 5: inside Venezuela still remain on the table. 80 00:04:27,160 --> 00:04:31,280 Speaker 2: According to the administration, Tyler, it's two up and two down, 81 00:04:31,600 --> 00:04:34,200 Speaker 2: it seems. In the Senate. We just pushed a headline 82 00:04:34,200 --> 00:04:37,120 Speaker 2: while you were talking there the Senate rejecting the extension 83 00:04:37,160 --> 00:04:40,360 Speaker 2: of healthcare subsidies. This would be the Democratic plan, all 84 00:04:40,360 --> 00:04:45,360 Speaker 2: but guaranteeing higher costs in twenty twenty six for millions 85 00:04:46,000 --> 00:04:50,520 Speaker 2: of Americans. The Republican plan that would not deal with Obamacare, 86 00:04:50,560 --> 00:04:53,240 Speaker 2: in fact, would create the health savings accounts failed earlier, 87 00:04:53,520 --> 00:04:57,360 Speaker 2: just quickly, Tyler was the president leaning into this. Do 88 00:04:57,480 --> 00:04:59,400 Speaker 2: we have any commentary from him today? Did he ever 89 00:04:59,440 --> 00:04:59,920 Speaker 2: pick a plan? 90 00:05:01,279 --> 00:05:05,560 Speaker 5: So, Joe, he really hasn't been involved in these healthcare discussions, 91 00:05:05,560 --> 00:05:08,479 Speaker 5: which is part of why we were widely expecting these 92 00:05:08,560 --> 00:05:11,680 Speaker 5: votes today to fail in the Senate, particularly on the 93 00:05:11,720 --> 00:05:15,159 Speaker 5: Republican side. Those Republicans did choose to coalesce around the 94 00:05:15,160 --> 00:05:18,200 Speaker 5: plan that is more in line with what President Trump 95 00:05:18,320 --> 00:05:21,000 Speaker 5: has indicated that he would be supportive of giving more 96 00:05:21,080 --> 00:05:25,040 Speaker 5: money to Americans in the forms of these health savings accounts. Now, 97 00:05:25,080 --> 00:05:26,680 Speaker 5: that is going to be the plan that we are 98 00:05:26,720 --> 00:05:29,680 Speaker 5: closely watching, even though it failed, how that could potentially 99 00:05:30,440 --> 00:05:33,120 Speaker 5: evolve going forward. We know that that plan, of course, 100 00:05:33,160 --> 00:05:36,880 Speaker 5: shepherded from Senator Bill Cassidy, a Republican from Louisiana, would 101 00:05:36,880 --> 00:05:39,839 Speaker 5: create these health savings accounts and encourage Americans to offer 102 00:05:39,960 --> 00:05:43,720 Speaker 5: plans with lower premiums but higher deductibles, with the idea 103 00:05:43,800 --> 00:05:46,600 Speaker 5: being that with more money in their hsas, they would 104 00:05:46,600 --> 00:05:49,560 Speaker 5: be able to afford higher out of pocket costs. Again, 105 00:05:49,600 --> 00:05:51,720 Speaker 5: this goes with the White House's position here that they 106 00:05:51,720 --> 00:05:53,760 Speaker 5: want to see more money going to consumers instead of 107 00:05:53,800 --> 00:05:57,600 Speaker 5: two insurance companies. But Joe, the lack of support from 108 00:05:57,640 --> 00:06:02,280 Speaker 5: President Trump outrightly one particular deal is ultimately why these 109 00:06:02,320 --> 00:06:04,760 Speaker 5: votes were considered to beat show votes today on Capitol Hill. 110 00:06:05,000 --> 00:06:07,480 Speaker 2: Yeah, right, well, Bill Cassidy must be a look in 111 00:06:07,560 --> 00:06:09,960 Speaker 2: his wounds right now. We'll see where we go from here. Tyler, 112 00:06:10,040 --> 00:06:13,080 Speaker 2: thank you so much. And what is a beautiful looking 113 00:06:13,200 --> 00:06:14,760 Speaker 2: day on the North lawn. But I can tell you, 114 00:06:14,839 --> 00:06:16,800 Speaker 2: Tyler might be pretty chilly out there. It's a cold 115 00:06:16,839 --> 00:06:20,600 Speaker 2: one here in the nation's capital. And this whole conversation 116 00:06:21,120 --> 00:06:26,400 Speaker 2: over healthcare is happening against the backdrop of one about affordability, 117 00:06:26,400 --> 00:06:28,320 Speaker 2: and they're really the same story when we talk about this, 118 00:06:28,400 --> 00:06:30,680 Speaker 2: right the President Trump tries to connect the dots to 119 00:06:30,760 --> 00:06:33,520 Speaker 2: some of the deals he's made with pharmaceutical companies. As 120 00:06:33,560 --> 00:06:36,040 Speaker 2: an example, gas prices, but when it comes to premiums, 121 00:06:36,400 --> 00:06:38,080 Speaker 2: maybe not so much. In fact, I think we can 122 00:06:38,120 --> 00:06:40,279 Speaker 2: now say that they're going up and people be getting 123 00:06:40,320 --> 00:06:42,800 Speaker 2: notices to have a sense of by how much. Over 124 00:06:42,800 --> 00:06:45,680 Speaker 2: the past couple of weeks, the President is on an 125 00:06:45,720 --> 00:06:49,360 Speaker 2: affordability road show. We're told he had the first night 126 00:06:49,400 --> 00:06:51,520 Speaker 2: out and we talked about this. Yesterday he went to 127 00:06:51,520 --> 00:06:54,960 Speaker 2: Pennsylvania to talk about the issue that got him elected 128 00:06:55,680 --> 00:06:59,720 Speaker 2: and has been dogging him in the polls. Yes, affordability. Listen, 129 00:07:00,760 --> 00:07:02,640 Speaker 2: they gave you. 130 00:07:02,640 --> 00:07:05,480 Speaker 6: High prices, they gave you the highest inflation in history, 131 00:07:05,520 --> 00:07:08,279 Speaker 6: and we're giving you we're bringing those prices down rapidly. 132 00:07:08,400 --> 00:07:10,160 Speaker 7: They oh, here's what realized prices are. 133 00:07:10,400 --> 00:07:13,760 Speaker 6: Prices are coming down very substantially. But they have a 134 00:07:13,800 --> 00:07:16,320 Speaker 6: new word. You know, those have a hoax. The new 135 00:07:16,360 --> 00:07:17,800 Speaker 6: word is affordability. 136 00:07:17,960 --> 00:07:20,720 Speaker 8: I have no higher priority. 137 00:07:20,160 --> 00:07:23,440 Speaker 6: Than making America affordable again. You can give up certain products. 138 00:07:24,680 --> 00:07:27,000 Speaker 6: You can give up pencils. You don't need thirty seven 139 00:07:27,040 --> 00:07:27,760 Speaker 6: dollars for your. 140 00:07:27,720 --> 00:07:29,520 Speaker 3: Daughter two or three is nice. 141 00:07:31,600 --> 00:07:34,080 Speaker 2: I don't know if Brennan Boyle has given up his pencils. 142 00:07:34,080 --> 00:07:37,000 Speaker 2: But we get the view from the great state of Pennsylvania. 143 00:07:37,040 --> 00:07:40,240 Speaker 2: Congressman Boil, of course, the top Democrat on the House 144 00:07:40,280 --> 00:07:45,160 Speaker 2: Budget Committee Pennsylvania's second district. So you've got a voice 145 00:07:45,160 --> 00:07:47,600 Speaker 2: of Philadelphia here, not the Poconos. And it's great to 146 00:07:47,640 --> 00:07:50,720 Speaker 2: have your congressman back on Bloomberg TV and radio. The 147 00:07:50,760 --> 00:07:53,160 Speaker 2: President said it a lot of times in your home 148 00:07:53,200 --> 00:07:57,360 Speaker 2: state the other evening, that affordability is a Democrat hoax. 149 00:07:58,280 --> 00:08:00,440 Speaker 2: Are you involved in some sort of conspira? Is he here? 150 00:08:00,520 --> 00:08:03,640 Speaker 2: What is he referring to? Well? 151 00:08:03,640 --> 00:08:07,880 Speaker 9: Often I am bewildered by what exactly the President says. 152 00:08:08,560 --> 00:08:11,080 Speaker 9: He says, the problem is that too many kids have 153 00:08:11,160 --> 00:08:14,280 Speaker 9: thirty seven pencils. I can assure you I don't have 154 00:08:14,360 --> 00:08:15,400 Speaker 9: thirty seven pencils. 155 00:08:15,440 --> 00:08:16,480 Speaker 8: Neither does my daughter. 156 00:08:17,920 --> 00:08:21,440 Speaker 9: You know, this president really was elected more than any 157 00:08:21,480 --> 00:08:23,680 Speaker 9: other reason, as you kind of referred to just a 158 00:08:23,680 --> 00:08:27,440 Speaker 9: few moments ago. He was elected because of the cost 159 00:08:27,520 --> 00:08:30,880 Speaker 9: of living crisis, and because he went around my state 160 00:08:31,320 --> 00:08:33,920 Speaker 9: more than any other state in the nation, saying that 161 00:08:34,000 --> 00:08:38,520 Speaker 9: he would lower prices. And I quote him on day one, Well, 162 00:08:38,559 --> 00:08:39,840 Speaker 9: he's been president for a year. 163 00:08:40,360 --> 00:08:43,400 Speaker 8: He has not lower prices. In fact, prices are higher. 164 00:08:43,080 --> 00:08:46,319 Speaker 9: Today than when he took office, and I would refer 165 00:08:46,400 --> 00:08:48,880 Speaker 9: you to the comments that the FED chair J. 166 00:08:49,040 --> 00:08:52,160 Speaker 8: Palell gave yesterday. J. Powell is not a Democrat. 167 00:08:52,240 --> 00:08:55,319 Speaker 9: In fact, he's a Republican appointed by a Republican president 168 00:08:55,400 --> 00:08:56,280 Speaker 9: named Donald Trump. 169 00:08:56,679 --> 00:08:57,560 Speaker 8: And what did he say? 170 00:08:58,120 --> 00:09:01,480 Speaker 9: Inflation is higher today than they projected, and it is 171 00:09:01,559 --> 00:09:04,120 Speaker 9: almost entirely due to the Trump tariffs. 172 00:09:05,400 --> 00:09:05,600 Speaker 5: Wow. 173 00:09:05,920 --> 00:09:09,520 Speaker 2: Well, of course we add, as I mentioned, healthcare to 174 00:09:09,600 --> 00:09:12,280 Speaker 2: that story. And I'm wondering your reaction to see this 175 00:09:12,360 --> 00:09:15,360 Speaker 2: democratic bill fail in the Senate. It was predicted to fail, 176 00:09:15,440 --> 00:09:19,080 Speaker 2: as was the Republican plan. So now they're both I 177 00:09:19,120 --> 00:09:22,280 Speaker 2: guess up in smoke here, congressman, what's going to happen? 178 00:09:22,480 --> 00:09:24,120 Speaker 2: We're going over the cliff, as they call it. 179 00:09:25,240 --> 00:09:26,320 Speaker 3: Well, first, you were right. 180 00:09:26,280 --> 00:09:30,760 Speaker 9: Moments ago when you said the crisis in healthcare costs 181 00:09:30,800 --> 00:09:34,240 Speaker 9: is one subset of the larger issue of the affordability 182 00:09:34,280 --> 00:09:37,360 Speaker 9: crisis or cost a living crisis in this nation. It 183 00:09:37,400 --> 00:09:41,040 Speaker 9: is probably the single biggest, along with the Trump tariffs 184 00:09:41,160 --> 00:09:44,480 Speaker 9: or essentially the national sales tax that Donald Trump has 185 00:09:44,480 --> 00:09:48,880 Speaker 9: created to put on most goods those that are imported. Now, 186 00:09:48,960 --> 00:09:51,240 Speaker 9: on healthcare, I would refer you back to a few 187 00:09:51,280 --> 00:09:54,679 Speaker 9: months ago. Remember Donald Trump used to cost to used 188 00:09:54,679 --> 00:09:58,800 Speaker 9: to talk incessantly about something called the one big Beautiful Bill. 189 00:09:59,480 --> 00:10:04,200 Speaker 9: We'll remember in his so called big beautiful bill, what 190 00:10:04,280 --> 00:10:07,520 Speaker 9: was it about? At its essence, tax breaks that were 191 00:10:07,559 --> 00:10:09,040 Speaker 9: skewed to the mega rich. 192 00:10:09,760 --> 00:10:12,240 Speaker 8: Paid for by the largest cuts. 193 00:10:11,880 --> 00:10:16,720 Speaker 9: To healthcare in American history, cuts to Obamacare, cuts to Medicaid, 194 00:10:17,160 --> 00:10:21,000 Speaker 9: cuts to other programs. Well, the first of those cuts 195 00:10:21,679 --> 00:10:25,160 Speaker 9: will take effect January first, So that's why Obamacare has 196 00:10:25,240 --> 00:10:27,200 Speaker 9: kind of been front and center right now. 197 00:10:27,480 --> 00:10:29,760 Speaker 8: It just happens to be first on the chopping block. 198 00:10:30,080 --> 00:10:32,880 Speaker 9: But later on in twenty twenty six, those Medicaid cuts 199 00:10:33,480 --> 00:10:36,680 Speaker 9: come into play as well, and combined, according to the 200 00:10:36,679 --> 00:10:40,640 Speaker 9: Congressional Budget Office, fifteen million Americans will lose their healthcare 201 00:10:40,920 --> 00:10:43,240 Speaker 9: over the course of the next year because of these 202 00:10:43,280 --> 00:10:44,000 Speaker 9: Trump cuts. 203 00:10:45,440 --> 00:10:50,400 Speaker 2: Wow, does that mean a Democratic controlled House in the midterms, 204 00:10:50,400 --> 00:10:53,000 Speaker 2: Because a lot of Republicans come on the air, and 205 00:10:53,040 --> 00:10:55,480 Speaker 2: I'm going to guess that you don't like this kind 206 00:10:55,480 --> 00:10:59,359 Speaker 2: of talk, but a lot of Republicans and even Democratic 207 00:10:59,360 --> 00:11:02,439 Speaker 2: analysts have I'm on the air to say Democrats might 208 00:11:02,520 --> 00:11:06,679 Speaker 2: prefer to keep these premiums right where they are and 209 00:11:06,960 --> 00:11:09,480 Speaker 2: point to Republicans when we go to vote in the 210 00:11:09,520 --> 00:11:13,800 Speaker 2: midterms because it guarantees a Democratic win. What would you 211 00:11:13,840 --> 00:11:15,560 Speaker 2: say to them. 212 00:11:15,120 --> 00:11:18,360 Speaker 9: Well, no, I don't believe in harming people because it 213 00:11:18,480 --> 00:11:21,880 Speaker 9: might be politically beneficial to you. And I would point 214 00:11:21,880 --> 00:11:23,920 Speaker 9: out to the vote that we had over the summer 215 00:11:24,480 --> 00:11:28,240 Speaker 9: on the big beautiful bill for billionaires, as I call it. 216 00:11:28,920 --> 00:11:32,040 Speaker 8: What did we see. We saw every House Democrat, whether. 217 00:11:32,280 --> 00:11:35,560 Speaker 9: A very liberal Democrat, a more a moderate conservative Democrat, 218 00:11:35,600 --> 00:11:38,960 Speaker 9: anywhere in between. You saw all House Democrats unite and 219 00:11:39,040 --> 00:11:42,720 Speaker 9: vote against that proposal, and you saw almost every Republican 220 00:11:43,160 --> 00:11:45,520 Speaker 9: vote in favor of it. That was the original sin 221 00:11:45,600 --> 00:11:48,559 Speaker 9: in this That's the bill that included the largest cuts 222 00:11:48,600 --> 00:11:52,760 Speaker 9: to healthcare in American history. Even now, right now, live 223 00:11:53,520 --> 00:11:56,320 Speaker 9: on the House floor, right in the well, there's a 224 00:11:56,400 --> 00:12:01,959 Speaker 9: discharge petition initiated by democratically Hakeem Jeffries. It would be 225 00:12:02,000 --> 00:12:06,120 Speaker 9: a three year clean extension, no additions to the program, 226 00:12:06,320 --> 00:12:11,440 Speaker 9: no subtractions, clean extension. Every single Democrat, all two hundred 227 00:12:11,480 --> 00:12:15,440 Speaker 9: and fourteen, has signed that discharge petition, not one Republican has. 228 00:12:15,720 --> 00:12:16,720 Speaker 10: It only needs four. 229 00:12:16,840 --> 00:12:18,520 Speaker 9: That's how we got the vote in the Epstein files. 230 00:12:18,600 --> 00:12:21,199 Speaker 9: Let's not forget we had four House Republicans who did 231 00:12:21,200 --> 00:12:23,640 Speaker 9: the right thing and signed it. So if they want 232 00:12:23,679 --> 00:12:26,800 Speaker 9: to at least look out for their political interests, they 233 00:12:26,800 --> 00:12:28,560 Speaker 9: can go to the well of the House floor right 234 00:12:28,559 --> 00:12:31,640 Speaker 9: now sign that discharge petition and we will soon get 235 00:12:31,679 --> 00:12:32,760 Speaker 9: a vote. 236 00:12:33,040 --> 00:12:35,600 Speaker 2: Well after we speak. Congressman will be joined by Nicole 237 00:12:35,679 --> 00:12:39,080 Speaker 2: Malia Takis, the Republican from New York, is one of ten, 238 00:12:39,200 --> 00:12:42,280 Speaker 2: at least at last count ten Republicans who signed on 239 00:12:42,360 --> 00:12:46,920 Speaker 2: to another discharge petition. This is the bipartisan bill by 240 00:12:46,960 --> 00:12:50,319 Speaker 2: Brian Fitzpatrick and Jared Golden would extend the tax credits 241 00:12:50,360 --> 00:12:54,600 Speaker 2: for two years, but would also impose eligibility requirements. Would 242 00:12:54,600 --> 00:12:55,520 Speaker 2: you be a no on that? 243 00:12:57,679 --> 00:13:01,000 Speaker 9: I've remain pretty open minded. I've been waiting to see 244 00:13:01,000 --> 00:13:04,560 Speaker 9: what would happen in the Senate. Got the breaking news 245 00:13:04,600 --> 00:13:07,920 Speaker 9: literally from you as I was waiting to go on that. Unfortunately, 246 00:13:07,960 --> 00:13:11,760 Speaker 9: that vote failed. I will say for any of these extensions. However, 247 00:13:12,120 --> 00:13:15,360 Speaker 9: the fact the overwhelming majority of House Republicans and the 248 00:13:15,400 --> 00:13:19,200 Speaker 9: overwhelming majority of Senate Republicans opposed them, I think, let's 249 00:13:19,200 --> 00:13:21,679 Speaker 9: face it, is the real stumbling block. And oh, by 250 00:13:21,679 --> 00:13:24,120 Speaker 9: the way, let's not forget this does have to be 251 00:13:24,160 --> 00:13:27,280 Speaker 9: signed into law. Anything that would somehow pass does have 252 00:13:27,320 --> 00:13:30,320 Speaker 9: to be signed into law by President Trump, who I 253 00:13:30,320 --> 00:13:33,520 Speaker 9: think it's safe to say, is not exactly a fan 254 00:13:33,559 --> 00:13:36,640 Speaker 9: of Obamacare. He's been railing against it ever since its 255 00:13:36,800 --> 00:13:40,440 Speaker 9: inception fifteen years ago. He pushed repeal and replace eight 256 00:13:40,559 --> 00:13:43,360 Speaker 9: years ago, and I'm not at all convinced that he 257 00:13:43,400 --> 00:13:45,880 Speaker 9: would sign any of these pieces of legislation. 258 00:13:46,920 --> 00:13:50,800 Speaker 2: Interesting, Congressman, I want to bring it back to July 259 00:13:51,320 --> 00:13:53,679 Speaker 2: in a conversation that we had here on Bloomberg. I 260 00:13:53,760 --> 00:13:56,880 Speaker 2: played this for you last time you were on because 261 00:13:56,880 --> 00:13:59,079 Speaker 2: I thought it was a pretty key moment as we 262 00:13:59,080 --> 00:14:02,400 Speaker 2: were walking up on a potential vote on the big 263 00:14:02,440 --> 00:14:06,559 Speaker 2: beautiful bill. It was following a recisions package that Republicans 264 00:14:06,600 --> 00:14:09,400 Speaker 2: put forth, and people were asking at that point, are 265 00:14:09,400 --> 00:14:10,920 Speaker 2: we going to shut down? What the heck is going 266 00:14:10,960 --> 00:14:12,920 Speaker 2: to go on around here? With funding in the balance. 267 00:14:13,720 --> 00:14:17,840 Speaker 2: This is what you said back in July, following those 268 00:14:17,920 --> 00:14:21,240 Speaker 2: moves in the House by Republicans. Let's listen together back 269 00:14:21,240 --> 00:14:21,640 Speaker 2: in time. 270 00:14:22,440 --> 00:14:26,080 Speaker 9: If the administration continues to do that, then I certainly 271 00:14:26,080 --> 00:14:28,800 Speaker 9: would not be in favor or vote for a scenario 272 00:14:29,280 --> 00:14:32,000 Speaker 9: in which we have reached an agreement on a Monday, 273 00:14:32,120 --> 00:14:35,120 Speaker 9: on a bipartisan basis, and then the very next day, 274 00:14:35,120 --> 00:14:37,400 Speaker 9: on a Tuesday, the White House says, oh. 275 00:14:37,320 --> 00:14:39,040 Speaker 3: Thanks for your vote for that. 276 00:14:39,360 --> 00:14:42,240 Speaker 9: We're now rescinding X, Y, and Z in that bill, 277 00:14:42,440 --> 00:14:45,120 Speaker 9: but we're keeping the parts that we liked. I'm not 278 00:14:45,200 --> 00:14:47,120 Speaker 9: going to be a sucker, and I'm certainly not going 279 00:14:47,160 --> 00:14:50,760 Speaker 9: to go along with that. So I believe, actually a shutdown. 280 00:14:50,440 --> 00:14:54,840 Speaker 2: Is more likely than not, more likely than not. And 281 00:14:54,880 --> 00:14:57,000 Speaker 2: I think you said one more recisions package and you 282 00:14:57,040 --> 00:15:00,240 Speaker 2: can count on it. Here we are again, Congressman. If 283 00:15:00,280 --> 00:15:01,920 Speaker 2: we go over the cliff at the end of the month, 284 00:15:02,760 --> 00:15:05,760 Speaker 2: if there's another recisions package, as Republicans have suggested in 285 00:15:05,760 --> 00:15:09,000 Speaker 2: another reconciliation plan on the way, could we shut down 286 00:15:09,560 --> 00:15:11,880 Speaker 2: in our remaining moment here at the end of January. 287 00:15:12,520 --> 00:15:14,360 Speaker 9: You know, my first thought is I wish my sports 288 00:15:14,400 --> 00:15:16,600 Speaker 9: predictions this year were as good as the prediction I 289 00:15:16,680 --> 00:15:21,720 Speaker 9: made on a government shutdown over the summer. I think 290 00:15:21,760 --> 00:15:25,000 Speaker 9: all things are possible. I certainly don't want a government shutdown. 291 00:15:25,520 --> 00:15:28,320 Speaker 9: I think it'd be enormously costly to the country, and 292 00:15:28,360 --> 00:15:30,760 Speaker 9: we'll do everything I can to prevent one. But the 293 00:15:30,880 --> 00:15:36,360 Speaker 9: issue of recisions remains, and my essential point remains intact 294 00:15:36,480 --> 00:15:38,680 Speaker 9: and valid, and I even have privately a number of 295 00:15:38,720 --> 00:15:42,360 Speaker 9: Republican members, especially those in the Appropriations Committee, who come 296 00:15:42,440 --> 00:15:45,520 Speaker 9: up and voice to me their frustration that we follow 297 00:15:45,560 --> 00:15:49,040 Speaker 9: the process, we follow the law, we put together packages, 298 00:15:49,360 --> 00:15:51,680 Speaker 9: we vote for them in good faith, and then you 299 00:15:51,800 --> 00:15:54,800 Speaker 9: have a White House and Office of Management budget director 300 00:15:54,840 --> 00:15:58,400 Speaker 9: who comes around the very next day and does these recisions, 301 00:15:58,440 --> 00:15:59,640 Speaker 9: often in an. 302 00:15:59,600 --> 00:16:00,960 Speaker 8: Entirely illegal ways. 303 00:16:01,000 --> 00:16:04,760 Speaker 9: The courts have repeatedly ruled that's really the root of 304 00:16:04,800 --> 00:16:07,600 Speaker 9: the problem here and why there is understandably a. 305 00:16:07,600 --> 00:16:08,320 Speaker 8: Lack of trust. 306 00:16:09,560 --> 00:16:12,320 Speaker 2: Speaking as the top Democrat on the House Budget Committee, 307 00:16:12,360 --> 00:16:15,600 Speaker 2: ranking Member Congressman Brendan Boyle of Pennsylvania, it's great to 308 00:16:15,600 --> 00:16:18,120 Speaker 2: have you Backxter, and thank you for the insights. We'll 309 00:16:18,160 --> 00:16:20,440 Speaker 2: stay in touch with the Congressman as we get closer 310 00:16:20,440 --> 00:16:23,160 Speaker 2: to the deadline. This is Bloomberg. Stay with us on 311 00:16:23,240 --> 00:16:25,800 Speaker 2: Balance of Power. We'll have much more coming up after this. 312 00:16:30,120 --> 00:16:33,600 Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch 313 00:16:33,680 --> 00:16:36,720 Speaker 1: us live weekdays at noon and five pm Eastern on 314 00:16:36,840 --> 00:16:40,080 Speaker 1: Apple Cocklay and Android Auto with the Bloomberg Business app. 315 00:16:40,120 --> 00:16:43,160 Speaker 1: You can also listen live on Amazon Alexa from our 316 00:16:43,160 --> 00:16:47,680 Speaker 1: flagship New York station just say Alexa played Bloomberg eleven thirty. 317 00:16:49,160 --> 00:16:51,360 Speaker 2: After what we just saw take place in the Senate, 318 00:16:51,360 --> 00:16:53,280 Speaker 2: maybe we should be spending more time in the House 319 00:16:53,320 --> 00:16:57,160 Speaker 2: because both the bills failed. It's already happened. Is one 320 00:16:57,200 --> 00:16:59,920 Speaker 2: thirty in the afternoon. The Democratic proposal to extend Obama 321 00:17:00,080 --> 00:17:03,280 Speaker 2: Care subsidies just went down the tubes, as we were 322 00:17:03,280 --> 00:17:05,720 Speaker 2: told it would, and the Republican plan failed this morning. 323 00:17:05,800 --> 00:17:08,960 Speaker 2: That would be the one to create health savings accounts 324 00:17:08,960 --> 00:17:11,760 Speaker 2: and take a different approach than the Affordable Care Act. 325 00:17:12,480 --> 00:17:15,400 Speaker 2: But there's something interesting that's happening in the House of Representatives, 326 00:17:15,400 --> 00:17:18,360 Speaker 2: and we just talked about it with Congressman Brendan Boyle. Yes, 327 00:17:18,400 --> 00:17:20,800 Speaker 2: there's the discharge petition that he talked about, the three 328 00:17:20,880 --> 00:17:23,280 Speaker 2: year extension that doesn't have a single Republican on it. 329 00:17:24,000 --> 00:17:28,840 Speaker 2: But there's a bipartisan discharge petition that we've talked about 330 00:17:28,840 --> 00:17:33,280 Speaker 2: a couple times, authored by Representatives Brian Fitzpatrick and Jared 331 00:17:33,320 --> 00:17:36,600 Speaker 2: Golden R and D. We've got at least ten Republicans 332 00:17:36,600 --> 00:17:41,240 Speaker 2: who have signed on, including our next guest. Maybe this 333 00:17:41,280 --> 00:17:44,240 Speaker 2: will be the path to solving all of this. Congresswoman 334 00:17:44,320 --> 00:17:47,480 Speaker 2: Nicole Malia Takis, the Republican from New York is with 335 00:17:47,600 --> 00:17:49,960 Speaker 2: us right now live from Capitol Hill on Bloomberg TV 336 00:17:50,119 --> 00:17:52,400 Speaker 2: and Radio. It's great to have you with us. Congresswoman, 337 00:17:52,720 --> 00:17:54,760 Speaker 2: Will this discharge petition be the answer? 338 00:17:56,880 --> 00:17:58,040 Speaker 10: Look, I'm not sure. 339 00:17:58,080 --> 00:17:59,639 Speaker 11: I'm not sure that it can get the two hundred 340 00:17:59,680 --> 00:18:04,080 Speaker 11: and eighteen signatures to get a House floor vote, especially 341 00:18:04,080 --> 00:18:07,720 Speaker 11: now that the Democrats have introduced a simple one year 342 00:18:07,800 --> 00:18:13,439 Speaker 11: extension without any fraud prevention measures. Our solution is truly 343 00:18:13,760 --> 00:18:17,000 Speaker 11: the best way to go about this. We have Republicans 344 00:18:17,000 --> 00:18:19,240 Speaker 11: and Democrats. There's eight of us that have introduced a 345 00:18:19,320 --> 00:18:22,480 Speaker 11: solution here. We are members of the Problem Solvers Caucus. 346 00:18:22,520 --> 00:18:24,800 Speaker 11: This is the very reason why our caucus exists to 347 00:18:24,800 --> 00:18:25,919 Speaker 11: try to put forward. 348 00:18:25,680 --> 00:18:26,800 Speaker 10: Some type of compromise. 349 00:18:27,080 --> 00:18:33,040 Speaker 11: What our legislation does it allows forward extension of the subsidies, 350 00:18:33,040 --> 00:18:36,680 Speaker 11: but in a way where we are not only preventing 351 00:18:36,720 --> 00:18:39,840 Speaker 11: this spike in premiums that consumers and patients are trying 352 00:18:39,880 --> 00:18:43,359 Speaker 11: to avoid right now, but it also goes after some 353 00:18:43,480 --> 00:18:48,280 Speaker 11: of the fraud by putting in specific measures that rain 354 00:18:48,560 --> 00:18:51,680 Speaker 11: in the insurance companies and the brokers and how they 355 00:18:51,840 --> 00:18:55,920 Speaker 11: enroll individuals to ensure that we're not. 356 00:18:55,840 --> 00:18:58,440 Speaker 10: Given subsidies for people that don't even. 357 00:18:58,280 --> 00:19:01,239 Speaker 11: Exist or are dead, or the socials security numbers that 358 00:19:01,280 --> 00:19:04,840 Speaker 11: are being used to. 359 00:19:04,000 --> 00:19:05,439 Speaker 10: Enroll thousands of people. 360 00:19:07,160 --> 00:19:10,119 Speaker 11: It's the best solution I see based on everything that 361 00:19:10,119 --> 00:19:13,440 Speaker 11: I've heard here in Capitol Hill, that really truly brings. 362 00:19:13,359 --> 00:19:14,399 Speaker 10: Both parties together. 363 00:19:14,440 --> 00:19:16,280 Speaker 11: But people have to be willing to give a little 364 00:19:16,760 --> 00:19:19,720 Speaker 11: and sign onto our legislation for us to be able 365 00:19:19,760 --> 00:19:21,639 Speaker 11: to move it forward and convince leadership. 366 00:19:23,119 --> 00:19:25,760 Speaker 2: What's the Speaker saying about this anything, Congresswoman, is there 367 00:19:25,760 --> 00:19:28,479 Speaker 2: a chance that this doesn't have to be a discharge petition? 368 00:19:28,640 --> 00:19:29,920 Speaker 2: He might even bring it to the floor. 369 00:19:31,119 --> 00:19:33,800 Speaker 11: Unfortunately, the Speaker says he does not want to do 370 00:19:33,840 --> 00:19:37,920 Speaker 11: an extension of the Affordable Care Act subsidies. Now, look, 371 00:19:38,160 --> 00:19:41,240 Speaker 11: I recognize what my colleagues are saying here. It is 372 00:19:41,320 --> 00:19:44,200 Speaker 11: true the Affordable Care Act was never truly affordable. 373 00:19:44,200 --> 00:19:45,320 Speaker 10: That is how we got in this mess. 374 00:19:45,320 --> 00:19:50,080 Speaker 11: Democrats sold the American People Bill of Goods in twenty fourteen. Now, 375 00:19:50,320 --> 00:19:52,359 Speaker 11: but here we are, and we have to address this 376 00:19:52,440 --> 00:19:55,720 Speaker 11: issue to prevent this spike in premiums. What our bill does, 377 00:19:55,760 --> 00:19:59,600 Speaker 11: what's really important here is that we go after the fraud. 378 00:20:00,000 --> 00:20:02,560 Speaker 11: That is the part the eleven Look eleven million people 379 00:20:02,560 --> 00:20:05,560 Speaker 11: are enrolled in this program that never even used it, 380 00:20:05,600 --> 00:20:08,680 Speaker 11: and there are millions of people that also have been 381 00:20:08,760 --> 00:20:13,040 Speaker 11: enrolled that we believe could be potentially a fraudulent We 382 00:20:13,080 --> 00:20:17,320 Speaker 11: saw tens of thousands of people being enrolled under the 383 00:20:17,400 --> 00:20:21,920 Speaker 11: same social Security number, or their social security number match 384 00:20:22,000 --> 00:20:24,840 Speaker 11: somebody who's dead under social security roles. 385 00:20:25,200 --> 00:20:26,320 Speaker 10: So there's so much. 386 00:20:26,160 --> 00:20:28,199 Speaker 11: Fraud here, which is why we think we have the 387 00:20:28,200 --> 00:20:30,760 Speaker 11: proper balance. And this gives us enough time, by the way, 388 00:20:31,359 --> 00:20:34,040 Speaker 11: to then work over the next year or two to 389 00:20:34,119 --> 00:20:36,760 Speaker 11: be able to come up with something that can truly 390 00:20:37,160 --> 00:20:40,080 Speaker 11: replace the Affordable Care Act, can bring costs down. Now, 391 00:20:40,080 --> 00:20:42,320 Speaker 11: what the Speaker and leadership are saying is that we're 392 00:20:42,320 --> 00:20:45,320 Speaker 11: going to take up a health savings account measure, which 393 00:20:45,359 --> 00:20:48,399 Speaker 11: will help people certainly with their medical costs. And I 394 00:20:48,440 --> 00:20:53,280 Speaker 11: support that initiative, but it doesn't go far enough. What 395 00:20:53,280 --> 00:20:55,320 Speaker 11: they also want to do is something else that will 396 00:20:55,400 --> 00:20:56,600 Speaker 11: drive down premiums to. 397 00:20:56,560 --> 00:20:59,600 Speaker 10: Twelve by twelve percent. I support both those measures. 398 00:21:00,000 --> 00:21:02,280 Speaker 11: I don't think our solution coupled with, by the way, 399 00:21:02,640 --> 00:21:06,880 Speaker 11: the opportunity for Americans to have fifty percent of their 400 00:21:06,880 --> 00:21:10,280 Speaker 11: premiums put fifty percent of this tax credit put in 401 00:21:10,320 --> 00:21:12,760 Speaker 11: a health savings account that they can use toward the 402 00:21:12,760 --> 00:21:14,760 Speaker 11: payment of their premiums, which they cannot do now. 403 00:21:14,840 --> 00:21:17,560 Speaker 10: Health savings accounts cannot be used for those premiums. That 404 00:21:17,600 --> 00:21:18,359 Speaker 10: goes a long way. 405 00:21:18,520 --> 00:21:22,080 Speaker 11: And we also have the PBM reform in there as well, 406 00:21:22,680 --> 00:21:26,000 Speaker 11: preventing spread pricing that will drive down prescription drug costs. 407 00:21:26,000 --> 00:21:28,440 Speaker 11: So we think we have a very good comprehensive plan. 408 00:21:28,640 --> 00:21:31,160 Speaker 2: Want to let's resk you about it. Yeah, I thought 409 00:21:31,160 --> 00:21:33,880 Speaker 2: cracking down on PBMs was one of the only bipartisan 410 00:21:34,000 --> 00:21:36,639 Speaker 2: activities on Capitol Hill these days. You're not getting more 411 00:21:36,720 --> 00:21:39,760 Speaker 2: love for that. I'm amazed that these numbers are not higher. 412 00:21:40,720 --> 00:21:41,560 Speaker 10: I think you have a. 413 00:21:43,320 --> 00:21:46,560 Speaker 11: Very large group of angry members, both Republicans and Democrats, 414 00:21:46,600 --> 00:21:50,600 Speaker 11: if we do not pass PBM reform. They are the middlemen, right, 415 00:21:50,840 --> 00:21:53,720 Speaker 11: and they're also not just the PBM. Oftentimes they are 416 00:21:53,880 --> 00:21:58,200 Speaker 11: the insurance company and the pharmacy. So you know, this 417 00:21:58,359 --> 00:22:01,199 Speaker 11: vertical integration is not good for the consumer. It is 418 00:22:01,240 --> 00:22:04,160 Speaker 11: not good for our small mom and pop pharmacies. They're 419 00:22:04,200 --> 00:22:06,880 Speaker 11: dictating what their competitors are making, if they're if they're 420 00:22:06,920 --> 00:22:10,560 Speaker 11: let's say a CVS for example, and they're dictating what 421 00:22:10,600 --> 00:22:13,520 Speaker 11: their competitor, small mom and pop are getting reimbursed for 422 00:22:13,600 --> 00:22:17,639 Speaker 11: prescription drugs. They're dictating which which prescriptions are covered by 423 00:22:17,640 --> 00:22:21,399 Speaker 11: the plans and what consumers are paying, and there's no transparency. 424 00:22:21,760 --> 00:22:23,280 Speaker 10: It is wrong and it has to end. 425 00:22:23,320 --> 00:22:25,080 Speaker 11: That is the number one thing that can drive down 426 00:22:25,080 --> 00:22:28,359 Speaker 11: prescription costs in this country, and in the past, President 427 00:22:28,400 --> 00:22:31,840 Speaker 11: Trump has been very supportive of that, and he's kind 428 00:22:31,880 --> 00:22:34,399 Speaker 11: of signed that he was a signaled that he was 429 00:22:34,800 --> 00:22:37,800 Speaker 11: supportive of some type of extension with reforms to tackle 430 00:22:37,840 --> 00:22:40,399 Speaker 11: the fraud for the insurance company. So we're hopeful we 431 00:22:40,440 --> 00:22:43,679 Speaker 11: can get to a resolution here. But remember this was 432 00:22:43,840 --> 00:22:46,200 Speaker 11: a problem that that was dumped on Republicans' laps, right 433 00:22:46,280 --> 00:22:48,600 Speaker 11: We're trying to do the best we can with what 434 00:22:49,080 --> 00:22:51,520 Speaker 11: we can do right now, because the Democrats set the 435 00:22:51,560 --> 00:22:55,120 Speaker 11: expiration date for these subsidies. 436 00:22:55,560 --> 00:22:57,200 Speaker 10: They set it to expire. 437 00:22:57,040 --> 00:22:58,840 Speaker 11: Now, and so we're trying to do what we can 438 00:22:59,000 --> 00:23:00,960 Speaker 11: and come up with the best policy to move this 439 00:23:01,160 --> 00:23:04,240 Speaker 11: forward to protect our constituents and the taxpayer. 440 00:23:05,320 --> 00:23:09,800 Speaker 2: You mentioned disappointed members, and I keep hearing stories, if 441 00:23:09,840 --> 00:23:13,440 Speaker 2: not direct accounts here on our air about members who 442 00:23:13,440 --> 00:23:16,040 Speaker 2: are disappointed with the Speaker of the House right now 443 00:23:16,560 --> 00:23:20,040 Speaker 2: in many cases, female members like Nancy Mace Marjorie Taylor 444 00:23:20,080 --> 00:23:22,639 Speaker 2: Greener said they don't even want to stay around anymore 445 00:23:22,640 --> 00:23:24,560 Speaker 2: with the way that he's running things, and President Trump 446 00:23:24,600 --> 00:23:27,119 Speaker 2: came to his defense. Obviously, Mike Johnson has one of 447 00:23:27,160 --> 00:23:28,520 Speaker 2: the hardest jobs in the world. I think we can 448 00:23:28,560 --> 00:23:31,360 Speaker 2: all agree on that. The question is whether he's effective. 449 00:23:31,400 --> 00:23:34,840 Speaker 2: Right now, Congresswoman, here's what Donald Trump thinks. I think 450 00:23:34,840 --> 00:23:36,240 Speaker 2: Mark Johnson is great. 451 00:23:36,560 --> 00:23:40,160 Speaker 7: You know, he's had a majority of two, three, four, 452 00:23:41,280 --> 00:23:45,000 Speaker 7: then back to two we actually had one, so we 453 00:23:45,040 --> 00:23:50,120 Speaker 7: were one heart attack away from disaster, so everybody prayed 454 00:23:50,280 --> 00:23:51,359 Speaker 7: for everybody's health. 455 00:23:52,200 --> 00:23:54,560 Speaker 3: I think Mike Johnson's been a fantastics maker. 456 00:23:54,600 --> 00:23:56,400 Speaker 7: I mean a very hard job because you know, when 457 00:23:56,400 --> 00:23:57,640 Speaker 7: you have a small majority. 458 00:23:57,720 --> 00:23:59,640 Speaker 4: I think Mike Johnson's been a great speaker. 459 00:23:59,720 --> 00:24:01,240 Speaker 3: I think few people could have done that. 460 00:24:01,359 --> 00:24:01,520 Speaker 4: Joe. 461 00:24:03,359 --> 00:24:05,879 Speaker 2: Does the speaker deserve the criticism that he's been getting 462 00:24:05,960 --> 00:24:09,720 Speaker 2: from various quarters. Congresswoman, and do you feel heard as 463 00:24:09,760 --> 00:24:10,560 Speaker 2: a female member. 464 00:24:11,800 --> 00:24:13,720 Speaker 11: Well, first, I'll say that he does have a very 465 00:24:13,760 --> 00:24:16,840 Speaker 11: difficult job, and you do have a very slim majority. 466 00:24:17,119 --> 00:24:18,600 Speaker 10: So we've been able to get a lot done. 467 00:24:18,640 --> 00:24:22,960 Speaker 11: We've delivered historic tax relief for middle class families, for 468 00:24:23,000 --> 00:24:26,040 Speaker 11: working Americans, for senior citizens, for businesses. I think we're 469 00:24:26,040 --> 00:24:28,359 Speaker 11: going to see the economy do extraordinarily well in twenty 470 00:24:28,359 --> 00:24:30,080 Speaker 11: twenty six because of the measures we were able to 471 00:24:30,080 --> 00:24:32,480 Speaker 11: pass this year, and we've been able to do a 472 00:24:32,480 --> 00:24:34,840 Speaker 11: lot of good things. The problem is, I think there's 473 00:24:34,880 --> 00:24:37,679 Speaker 11: a frustration from rank and file members, particularly because now 474 00:24:37,720 --> 00:24:39,280 Speaker 11: we're at the end of the year with some of 475 00:24:39,400 --> 00:24:43,960 Speaker 11: our own legislative priorities that could be considered non controversial, 476 00:24:44,040 --> 00:24:47,080 Speaker 11: doesn't cost money. We're having trouble navigating these things out 477 00:24:47,119 --> 00:24:49,359 Speaker 11: of the committee and onto the floor. We think we 478 00:24:49,400 --> 00:24:52,120 Speaker 11: should be churning out more member priorities, and I think 479 00:24:52,119 --> 00:24:54,320 Speaker 11: that's where the frustration lies. 480 00:24:54,920 --> 00:24:56,639 Speaker 10: I have some of those priorities. I did get a 481 00:24:56,640 --> 00:24:57,600 Speaker 10: lot done this year. 482 00:24:57,440 --> 00:24:59,399 Speaker 11: With the salt relief I delivered for New York, as 483 00:24:59,440 --> 00:25:02,320 Speaker 11: well as the bonus deduction for senior citizens, the one 484 00:25:02,400 --> 00:25:05,320 Speaker 11: hundred percent manufacturing expensing. 485 00:25:04,920 --> 00:25:06,800 Speaker 10: For new facilities and expansion of facilities. 486 00:25:06,840 --> 00:25:10,040 Speaker 11: Those were all my priorities that got into that big, 487 00:25:10,040 --> 00:25:11,840 Speaker 11: beautiful bill, and I'm happy about that. 488 00:25:12,160 --> 00:25:14,919 Speaker 10: However, you have some smaller things that we would. 489 00:25:14,640 --> 00:25:16,639 Speaker 11: Like to see get out of the committee onto the 490 00:25:16,680 --> 00:25:18,560 Speaker 11: floor and if leadership could help us with that, I 491 00:25:18,560 --> 00:25:20,199 Speaker 11: think you'd make a lot of members happy. 492 00:25:21,880 --> 00:25:23,320 Speaker 2: Well, it's great to have you weigh in on this 493 00:25:23,520 --> 00:25:25,439 Speaker 2: all of this. Congresswoman, let's stay in touch on the 494 00:25:25,440 --> 00:25:29,000 Speaker 2: discharge petition because it's not over yet. Nicole Malia Takis, 495 00:25:29,040 --> 00:25:31,040 Speaker 2: Republican from New York with US Live from Capitol Hill. 496 00:25:31,040 --> 00:25:32,920 Speaker 2: We want to play this to the panel quickly. We'll 497 00:25:32,920 --> 00:25:34,480 Speaker 2: have a lot more time ahead with Rick Davis and 498 00:25:34,520 --> 00:25:38,520 Speaker 2: Jeanie Shanzano on matters of geopolitics. This is important though, 499 00:25:38,560 --> 00:25:40,520 Speaker 2: these healthcare votes, and we've been talking about it a lot. 500 00:25:40,560 --> 00:25:45,880 Speaker 2: Bloomberg Politics contributors Rick Davis, Republican strategist partner store Court Capital, 501 00:25:45,880 --> 00:25:49,720 Speaker 2: and Genie Shanzano, Democracy visiting fellow at Harvard Kennedy School's 502 00:25:49,760 --> 00:25:52,960 Speaker 2: Ash Center. What are you think in here, Genie, because 503 00:25:52,960 --> 00:25:55,320 Speaker 2: it looks like we're going to go careening over the cliff. 504 00:25:55,359 --> 00:25:58,080 Speaker 2: We've got time for about a minute each and would 505 00:25:58,119 --> 00:26:00,320 Speaker 2: love to just have you each take a swing this 506 00:26:00,359 --> 00:26:03,040 Speaker 2: because we saw it coming, and this is why people 507 00:26:03,080 --> 00:26:05,960 Speaker 2: love Washington. Right, Yeah, it's. 508 00:26:05,840 --> 00:26:09,240 Speaker 12: Exactly why we love Washington. We saw it coming. It's 509 00:26:09,400 --> 00:26:12,840 Speaker 12: very disheartening to hear members say that anything could happen 510 00:26:12,920 --> 00:26:15,960 Speaker 12: in terms of a shutdown, so we could literally be 511 00:26:16,040 --> 00:26:18,719 Speaker 12: facing another shutdown in a matter of a few weeks. 512 00:26:18,760 --> 00:26:23,480 Speaker 12: And more importantly, millions of people paying ridiculous amounts for 513 00:26:23,560 --> 00:26:26,359 Speaker 12: healthcare and two parties who can't get it together. I 514 00:26:26,440 --> 00:26:29,760 Speaker 12: have to say, Nicole Maliatakas, you know she is part 515 00:26:29,800 --> 00:26:32,720 Speaker 12: of this problem solvers caucus. We need more people to 516 00:26:32,880 --> 00:26:35,760 Speaker 12: join in this middle type of group and try to 517 00:26:35,800 --> 00:26:39,399 Speaker 12: work towards these solutions. But they are anywhere but close 518 00:26:39,480 --> 00:26:42,000 Speaker 12: to that. And of course Mike Johnson remains in this 519 00:26:42,160 --> 00:26:46,040 Speaker 12: terrible position. Even Malia Takas is colleague from New York, 520 00:26:46,240 --> 00:26:49,400 Speaker 12: a last stephonic is upset and she's part of leadership. 521 00:26:49,440 --> 00:26:53,080 Speaker 12: She's called him an habitual liar. So nobody wants to 522 00:26:53,080 --> 00:26:54,040 Speaker 12: be the speaker today. 523 00:26:55,240 --> 00:27:01,080 Speaker 2: Boy, not the truth. So you start wondering about to shutdown, Rick, 524 00:27:01,160 --> 00:27:02,960 Speaker 2: I don't know if anybody has the appetite for that 525 00:27:03,000 --> 00:27:06,200 Speaker 2: after setting an all time records with the shutdown already 526 00:27:06,400 --> 00:27:09,720 Speaker 2: this year. But we talked about this, we saw it 527 00:27:09,760 --> 00:27:12,520 Speaker 2: coming a mile away. They have now both failed. Will 528 00:27:12,560 --> 00:27:15,120 Speaker 2: there be a solution or this is the biggest issue 529 00:27:15,160 --> 00:27:17,879 Speaker 2: in the midterms. 530 00:27:17,960 --> 00:27:19,520 Speaker 3: It's going to be one of the biggest issues in 531 00:27:19,560 --> 00:27:20,240 Speaker 3: the midterms. 532 00:27:20,320 --> 00:27:23,280 Speaker 13: And you know when you know, looking back twenty twenty vision, 533 00:27:23,400 --> 00:27:26,439 Speaker 13: but this should have been dealt with back when we 534 00:27:26,440 --> 00:27:29,360 Speaker 13: were doing reconciliation and dealing with the Medicaid program, right, 535 00:27:29,440 --> 00:27:31,679 Speaker 13: I mean, if Republicans were going to make cuts, that 536 00:27:31,680 --> 00:27:33,719 Speaker 13: would have been the time to do it, because you know, 537 00:27:34,359 --> 00:27:36,320 Speaker 13: it would have stemmed all of the debate. 538 00:27:36,480 --> 00:27:36,920 Speaker 3: Today. 539 00:27:38,000 --> 00:27:40,879 Speaker 13: Now Republicans are on the defensive. We don't have a plan. 540 00:27:41,359 --> 00:27:43,560 Speaker 13: It's only going to get worse before it gets better. 541 00:27:43,600 --> 00:27:47,359 Speaker 13: And there is nothing on the horizon that shows Republicans 542 00:27:47,440 --> 00:27:50,920 Speaker 13: gaining any advantage or stemming the losses that they're currently 543 00:27:51,760 --> 00:27:55,560 Speaker 13: getting off of not being able to have a healthcare program, 544 00:27:55,640 --> 00:27:57,920 Speaker 13: and all that will come right. 545 00:27:57,720 --> 00:27:59,840 Speaker 3: Back into focus at the end of the month, and 546 00:28:00,640 --> 00:28:01,080 Speaker 3: you know. 547 00:28:01,200 --> 00:28:03,920 Speaker 13: It's just going to be replaying the same scenario over 548 00:28:03,960 --> 00:28:05,760 Speaker 13: and over again between now in the midterms. 549 00:28:05,920 --> 00:28:09,479 Speaker 2: Yeah, I think we could replay a couple segments about that, 550 00:28:09,640 --> 00:28:11,639 Speaker 2: but we're going to do it live. Rick Davis and 551 00:28:11,680 --> 00:28:14,840 Speaker 2: Jeanie Shanzino will be back with us coming up as 552 00:28:14,880 --> 00:28:17,040 Speaker 2: we turn our attention to what is happening in the 553 00:28:17,080 --> 00:28:20,840 Speaker 2: waters off Venezuela. The United States has now seized an 554 00:28:20,920 --> 00:28:24,240 Speaker 2: oil cargo ship. That's next on Bloomberg. Stay with us 555 00:28:24,240 --> 00:28:26,479 Speaker 2: on Balance of Power. We'll have much more coming up 556 00:28:26,520 --> 00:28:27,000 Speaker 2: after this. 557 00:28:32,400 --> 00:28:35,880 Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch 558 00:28:35,960 --> 00:28:38,960 Speaker 1: us live weekdays at noon and five pm Eastern on 559 00:28:39,080 --> 00:28:42,800 Speaker 1: Applecarplay and Android Auto with the Bloomberg Business App. Listen 560 00:28:42,880 --> 00:28:46,000 Speaker 1: on demand wherever you get your podcasts, or watch us 561 00:28:46,040 --> 00:28:47,400 Speaker 1: live on YouTube. 562 00:28:48,680 --> 00:28:52,400 Speaker 2: The President has affordability on his mind today, as we 563 00:28:52,640 --> 00:28:55,840 Speaker 2: discussed it with Brendan Boyle and Nicole Malia Takis. The 564 00:28:55,880 --> 00:28:59,560 Speaker 2: healthcare bills both failed. That's kind of out of the 565 00:28:59,600 --> 00:29:02,200 Speaker 2: same here, so as we know that premiums will be 566 00:29:02,280 --> 00:29:04,480 Speaker 2: rising starting at the end of this month unless there's 567 00:29:04,480 --> 00:29:08,600 Speaker 2: some sort of Christmas miracle, and those don't happen very often. 568 00:29:10,600 --> 00:29:13,200 Speaker 2: This will continue to be an issue hanging over the 569 00:29:13,200 --> 00:29:15,440 Speaker 2: White House, and the President has had it. He just 570 00:29:15,480 --> 00:29:18,600 Speaker 2: went on truth Social to write stock market just hit 571 00:29:18,640 --> 00:29:22,080 Speaker 2: an all time high. Three exclamation points. When will the 572 00:29:22,160 --> 00:29:24,840 Speaker 2: fake polls show that I am doing a great job 573 00:29:24,880 --> 00:29:29,160 Speaker 2: on the economy and much more? Three question marks? Thank you? 574 00:29:31,440 --> 00:29:35,040 Speaker 2: Referring to the fake polls, like maybe the consumer price index. 575 00:29:35,320 --> 00:29:37,080 Speaker 2: This is a story that won't be going away, and 576 00:29:37,120 --> 00:29:41,560 Speaker 2: it's made for Bloomberg with data driven reporting here in Washington, 577 00:29:41,640 --> 00:29:43,240 Speaker 2: d C. There's the post if you're with us on 578 00:29:43,240 --> 00:29:45,600 Speaker 2: Bloomberg TV or on YouTube, where you can find us 579 00:29:45,680 --> 00:29:51,040 Speaker 2: right now by searching Bloomberg Business News Live. Remarkable development yesterday. 580 00:29:51,080 --> 00:29:53,560 Speaker 2: You saw it first on the terminal here Bloomberg dot 581 00:29:53,560 --> 00:29:56,080 Speaker 2: Com as well as scoop an exclusive that the United 582 00:29:56,120 --> 00:29:59,320 Speaker 2: States of America had seized an oil tanker off the 583 00:29:59,320 --> 00:30:02,000 Speaker 2: coast of Venice. Just the latest move and a string 584 00:30:02,520 --> 00:30:05,480 Speaker 2: of actions by the administration that include blowing up alleged 585 00:30:05,520 --> 00:30:09,160 Speaker 2: drug boats, even flying F eighteen's right around the coast, 586 00:30:09,600 --> 00:30:15,080 Speaker 2: flying B fifty two's into airspace near the country. Now 587 00:30:15,160 --> 00:30:19,440 Speaker 2: the tanker, and about an hour after this broke on Bloomberg, 588 00:30:19,480 --> 00:30:22,400 Speaker 2: the President confirmed it live from the White House. 589 00:30:22,440 --> 00:30:30,200 Speaker 14: Listen, here's a step up in pressure on Maduro, and 590 00:30:30,240 --> 00:30:33,960 Speaker 14: it indicates that if he stays in power, he's going 591 00:30:34,000 --> 00:30:39,000 Speaker 14: to really face much more constrained resources. It's going to 592 00:30:39,000 --> 00:30:41,120 Speaker 14: make him difficult, to make it very difficult for him 593 00:30:41,240 --> 00:30:43,960 Speaker 14: to pay off his people and do the other things 594 00:30:44,040 --> 00:30:46,680 Speaker 14: he's been doing. It's just one more push to get 595 00:30:46,760 --> 00:30:49,160 Speaker 14: him out the door. But it does also make clear 596 00:30:49,280 --> 00:30:53,040 Speaker 14: Joe that the purpose of this is not just counter narcotics. 597 00:30:54,600 --> 00:30:58,240 Speaker 2: Reaction from retired four star General Wesley Clark, he was 598 00:30:58,280 --> 00:30:59,960 Speaker 2: with us on the late edition to balance the power 599 00:31:00,280 --> 00:31:03,920 Speaker 2: just after the President confirmed the report when he was asked, 600 00:31:03,960 --> 00:31:05,520 Speaker 2: by the way, what are you going to do with 601 00:31:05,560 --> 00:31:07,360 Speaker 2: the oiler? So I guess we're going to keep it. 602 00:31:09,000 --> 00:31:11,360 Speaker 2: Reuters adds another log on the fire here with a 603 00:31:11,400 --> 00:31:14,640 Speaker 2: headline that just crossed the wire. US prepares to intercept 604 00:31:14,640 --> 00:31:18,120 Speaker 2: more tankers off Venezuela. Let's assemble the panel for their 605 00:31:18,160 --> 00:31:21,120 Speaker 2: take on everything that's going on in the Caribbean. Bloomberg 606 00:31:21,160 --> 00:31:24,200 Speaker 2: Politics contributors Rick Davis and Jeanie Schanzano are back with us. 607 00:31:24,240 --> 00:31:27,920 Speaker 2: Rick is our Republican strategist. Genie are democratic analyst. And 608 00:31:27,960 --> 00:31:30,760 Speaker 2: I don't know, Rick, We're going to find ourselves with 609 00:31:30,880 --> 00:31:33,360 Speaker 2: a fleet of seized oil tankers. What do we do 610 00:31:33,440 --> 00:31:35,920 Speaker 2: with them? If this is actually legal? 611 00:31:37,760 --> 00:31:41,080 Speaker 13: Well, I think that Donald Trump clearly has a plan 612 00:31:41,160 --> 00:31:44,200 Speaker 13: for the hemisphere. You know, he's released his strategy earlier 613 00:31:44,240 --> 00:31:47,760 Speaker 13: this week, and the focus on the North and South 614 00:31:47,760 --> 00:31:51,240 Speaker 13: America is a part of this overall strategy. To me, 615 00:31:51,320 --> 00:31:54,800 Speaker 13: the tanker thing is an insurance play you know, even 616 00:31:54,840 --> 00:31:57,600 Speaker 13: though these are darkfleet tankers, we don't know who their 617 00:31:58,680 --> 00:32:02,720 Speaker 13: origins ownership are, they still have to have insurance be 618 00:32:02,800 --> 00:32:05,480 Speaker 13: able to operate. And Trump wants to shut down the 619 00:32:05,480 --> 00:32:08,520 Speaker 13: operation of these things, whether the oil or the gas 620 00:32:08,600 --> 00:32:11,760 Speaker 13: is going to Iran or China. He sees out as 621 00:32:11,760 --> 00:32:14,800 Speaker 13: a pernicious effect in our hemisphere. So why don't you 622 00:32:14,880 --> 00:32:17,240 Speaker 13: just undercut the ability to have a tanker show up 623 00:32:17,320 --> 00:32:20,120 Speaker 13: by not being able to get insurance. Who wants to 624 00:32:20,120 --> 00:32:22,080 Speaker 13: write insurance for a tanker that's going to be in 625 00:32:22,080 --> 00:32:23,840 Speaker 13: the Caribbean these days if they. 626 00:32:23,680 --> 00:32:25,360 Speaker 3: Think that the US is going to seize it. 627 00:32:25,480 --> 00:32:29,320 Speaker 13: So one tanker probably means ten are now not going 628 00:32:29,360 --> 00:32:32,240 Speaker 13: to be able to operate because they can't get insurance 629 00:32:32,240 --> 00:32:32,640 Speaker 13: to operate. 630 00:32:32,680 --> 00:32:34,880 Speaker 3: So I thought it was a pretty crafty effort. 631 00:32:35,200 --> 00:32:38,120 Speaker 13: If it takes two more tankers to acquire their low 632 00:32:38,240 --> 00:32:42,040 Speaker 13: risk they don't have weapons on board, I think it's 633 00:32:42,040 --> 00:32:44,240 Speaker 13: a pretty good message to send to a rogue regime. 634 00:32:45,720 --> 00:32:49,480 Speaker 2: Genie Venezuela's government called the seizure a bear faced robbery 635 00:32:49,560 --> 00:32:54,400 Speaker 2: and an act of international piracy, and interesting choice of 636 00:32:54,440 --> 00:32:56,800 Speaker 2: words here. I don't know if you saw the footage 637 00:32:56,800 --> 00:32:59,480 Speaker 2: that the Attorney General Pam Bondi put on social media. 638 00:32:59,520 --> 00:33:02,880 Speaker 2: We were just showing it to our TV and YouTube viewers. 639 00:33:02,920 --> 00:33:06,000 Speaker 2: Pretty remarkable to see the military helicopter come right down 640 00:33:06,040 --> 00:33:10,480 Speaker 2: above the deck of this tanker and see special forces 641 00:33:10,520 --> 00:33:13,880 Speaker 2: repelling onto the boat. Answering the question we all had 642 00:33:13,960 --> 00:33:16,600 Speaker 2: last evening. Apparently there was no resistance from the crew 643 00:33:17,040 --> 00:33:19,719 Speaker 2: and no casualties. What should happen to the people who 644 00:33:19,760 --> 00:33:20,320 Speaker 2: were aboard? 645 00:33:22,480 --> 00:33:24,840 Speaker 12: Yeah, I mean, what's the reason for the United States 646 00:33:24,880 --> 00:33:28,440 Speaker 12: to release this kind of video, that these kinds of pictures. 647 00:33:28,480 --> 00:33:33,480 Speaker 12: It's of course to continue with the attempts at intimidation 648 00:33:34,040 --> 00:33:36,680 Speaker 12: and to make the case to the Maduro regime. And 649 00:33:36,760 --> 00:33:40,440 Speaker 12: of course, right after Maduro said this was an act 650 00:33:40,480 --> 00:33:44,560 Speaker 12: of international piracy, of course he launched into us, singing 651 00:33:44,600 --> 00:33:47,160 Speaker 12: as He's wont to do of don't worry, be happy. 652 00:33:47,480 --> 00:33:50,280 Speaker 12: So it was one of a multitude of strange videos 653 00:33:50,320 --> 00:33:55,240 Speaker 12: coming out of Venezuela yesterday. I think what we're seeing 654 00:33:55,280 --> 00:33:58,240 Speaker 12: here is a ratcheting up on two fronts. We've seen 655 00:33:58,320 --> 00:34:00,760 Speaker 12: for a long time, the ratcheting up on the military 656 00:34:00,880 --> 00:34:04,040 Speaker 12: end of things, and this is another in line with that. 657 00:34:04,480 --> 00:34:06,720 Speaker 12: And of course we're seeing a ratcheting up. 658 00:34:06,560 --> 00:34:07,800 Speaker 2: On the legality end. 659 00:34:08,200 --> 00:34:11,680 Speaker 12: The United States has been seizing assets in Venezuela, as 660 00:34:11,719 --> 00:34:15,440 Speaker 12: has the UK season goal since about twenty nineteen. So 661 00:34:15,520 --> 00:34:18,919 Speaker 12: this goes back a long way. And the President made 662 00:34:18,920 --> 00:34:21,719 Speaker 12: it clear yesterday in the White House, which I think 663 00:34:21,800 --> 00:34:26,120 Speaker 12: is so notable that Venezuela is not the only country 664 00:34:26,120 --> 00:34:29,759 Speaker 12: in this hemisphere in our crosshairs. It is also Columbia, 665 00:34:29,840 --> 00:34:33,880 Speaker 12: he said, he issued a warning watch out your next 666 00:34:34,719 --> 00:34:38,760 Speaker 12: interestingly Ecuador, who you would think if this was about drugs, 667 00:34:38,960 --> 00:34:41,200 Speaker 12: would also be in line for this as left off 668 00:34:41,239 --> 00:34:44,040 Speaker 12: the table because he's got a friendly relationship with the President, 669 00:34:44,520 --> 00:34:48,799 Speaker 12: which to your discussion with Wesley Clark yesterday, says this 670 00:34:48,880 --> 00:34:53,040 Speaker 12: isn't about drugs, of course, this is I think also 671 00:34:53,239 --> 00:34:57,600 Speaker 12: about ideology and control of the hemisphere. It gets back 672 00:34:57,600 --> 00:35:00,000 Speaker 12: to what Rick was talking about about this national security 673 00:35:00,080 --> 00:35:02,919 Speaker 12: document that came out, and I think if you are 674 00:35:03,360 --> 00:35:07,040 Speaker 12: Vladimir Zelensky looking at this, you've got to be very, 675 00:35:07,160 --> 00:35:10,960 Speaker 12: very concerned because how could we as the United States 676 00:35:11,000 --> 00:35:13,719 Speaker 12: be engaged in this and tell Russia they can't do 677 00:35:13,800 --> 00:35:16,880 Speaker 12: what they want in their hemisphere and likewise China and Taiwan. 678 00:35:17,280 --> 00:35:20,000 Speaker 12: So it's a much much bigger message than just to 679 00:35:20,120 --> 00:35:21,399 Speaker 12: Maduro in Venezuela. 680 00:35:22,480 --> 00:35:26,239 Speaker 2: It's interesting you mentioned that because Bloomberg is reporting, Rick 681 00:35:26,280 --> 00:35:29,799 Speaker 2: and Genie, that Vladimir Putin has entered the picture here 682 00:35:30,120 --> 00:35:35,479 Speaker 2: speaking with his Venezuelan counterpart in Nicholas Maduro. They talked 683 00:35:35,480 --> 00:35:37,960 Speaker 2: about the development of bilateral ties as part of a 684 00:35:38,000 --> 00:35:43,120 Speaker 2: strategic cooperation treaty, according to a Kremlin statement confirming both 685 00:35:43,160 --> 00:35:48,240 Speaker 2: sides confirming their commitment to joint projects in trade, the economy, energy, 686 00:35:48,760 --> 00:35:54,920 Speaker 2: and other areas. How much could Russia complicate this mission, Rick, Oh, 687 00:35:54,960 --> 00:35:55,360 Speaker 2: I don't. 688 00:35:55,200 --> 00:35:59,359 Speaker 13: Think Russia can complicate this mission virtually at all. They're 689 00:35:59,360 --> 00:36:03,759 Speaker 13: not going to send military advisors or a significant amount 690 00:36:03,760 --> 00:36:07,560 Speaker 13: of equipment uh to Venezuela that would have any impact 691 00:36:07,640 --> 00:36:12,319 Speaker 13: on Venezuela's security, And and that's likely the only thing that 692 00:36:12,400 --> 00:36:15,560 Speaker 13: Russia could try to do. There's not enough uh juice 693 00:36:15,600 --> 00:36:18,279 Speaker 13: in the Russian economy to help Venezuela at this point. 694 00:36:18,320 --> 00:36:19,920 Speaker 3: And they would have done it a year ago if 695 00:36:19,960 --> 00:36:20,360 Speaker 3: they could. 696 00:36:20,920 --> 00:36:21,160 Speaker 10: Uh. 697 00:36:21,200 --> 00:36:24,200 Speaker 3: So, Uh, this is a distraction. Russia's got its own. 698 00:36:24,040 --> 00:36:28,239 Speaker 13: Problems, uh and uh, you know, dealing with a significant 699 00:36:28,239 --> 00:36:32,720 Speaker 13: war in Ukraine. We tend to underestimate the massive impact 700 00:36:32,719 --> 00:36:35,399 Speaker 13: on the Russian economy. And by the way, the more 701 00:36:35,440 --> 00:36:38,879 Speaker 13: of these tankers that get rolled up as a part 702 00:36:38,960 --> 00:36:43,000 Speaker 13: of this UH scheme with the administration in Venezuela, the 703 00:36:43,000 --> 00:36:45,399 Speaker 13: more pressure that puts on Russia. At the same time, 704 00:36:45,480 --> 00:36:48,319 Speaker 13: how many how many insurance companies are going to want to, uh, 705 00:36:48,520 --> 00:36:52,479 Speaker 13: you know, ensure Russian tankers if if they think the 706 00:36:52,520 --> 00:36:54,680 Speaker 13: administration is getting serious about these sanctions. 707 00:36:55,880 --> 00:36:59,279 Speaker 2: Well, it's interesting, uh, Genie, that strategic treaty that I 708 00:36:59,320 --> 00:37:03,040 Speaker 2: mentioned was sign by Putin a Maduro back in May. 709 00:37:03,360 --> 00:37:07,560 Speaker 2: President Trump talks a lot about his great relationship with 710 00:37:07,640 --> 00:37:09,840 Speaker 2: Vladimir Putin. They of course have seen each other in 711 00:37:09,880 --> 00:37:14,080 Speaker 2: person repeatedly. Could this not be, as we try to 712 00:37:14,080 --> 00:37:16,640 Speaker 2: figure an end of the war in Ukraine, a lever 713 00:37:16,880 --> 00:37:19,359 Speaker 2: for Donald Trump to pull. What if Putin asked Madu 714 00:37:19,480 --> 00:37:21,200 Speaker 2: to leave? Well, have you come on over here? You 715 00:37:21,239 --> 00:37:23,720 Speaker 2: can move into Moscow and start a whole new life, Jeanie, 716 00:37:23,760 --> 00:37:29,680 Speaker 2: does this cut both ways? It absolutely could. 717 00:37:30,080 --> 00:37:34,160 Speaker 12: And we know Donald Trump is you know obviously well, 718 00:37:34,560 --> 00:37:38,120 Speaker 12: you know he's able and willing to make transactional deals, 719 00:37:38,400 --> 00:37:40,120 Speaker 12: so that can be one of them. But I don't 720 00:37:40,120 --> 00:37:43,560 Speaker 12: think we should forget that Russia has also sent ships 721 00:37:43,560 --> 00:37:45,960 Speaker 12: for one of the first times in a long time 722 00:37:46,320 --> 00:37:49,040 Speaker 12: to this part of the world. And for all the 723 00:37:49,160 --> 00:37:53,400 Speaker 12: pressure that Venezuela has been feeling and it's increasingly ratcheted 724 00:37:53,480 --> 00:37:56,960 Speaker 12: up from the United States, they have not buckled or 725 00:37:57,000 --> 00:38:01,840 Speaker 12: been goaded into a war or a con frontation. You know, 726 00:38:01,920 --> 00:38:04,200 Speaker 12: you may think you mentioned the video, there was no 727 00:38:04,360 --> 00:38:08,480 Speaker 12: resistance from the sailors on those boats. Venezuela has so 728 00:38:08,719 --> 00:38:12,279 Speaker 12: far for a rogue regime, and certainly Maduro has a 729 00:38:12,280 --> 00:38:16,080 Speaker 12: lot to answer for. They have been particularly disciplined about 730 00:38:16,160 --> 00:38:19,319 Speaker 12: not being goaded into something with the United States for 731 00:38:19,400 --> 00:38:23,080 Speaker 12: a long time, and so you know, that is something 732 00:38:23,239 --> 00:38:26,919 Speaker 12: that is notable. You know, I do think that there 733 00:38:27,080 --> 00:38:29,799 Speaker 12: is a change of foot as we think about how 734 00:38:29,840 --> 00:38:33,759 Speaker 12: the United States presents itself around the world, and this 735 00:38:33,920 --> 00:38:36,799 Speaker 12: is part and person of that. You know, some people 736 00:38:36,840 --> 00:38:40,319 Speaker 12: are saying Monroe doctor and two point zero. It's very 737 00:38:40,400 --> 00:38:44,080 Speaker 12: curious for a president who talked about not getting involved 738 00:38:44,080 --> 00:38:47,040 Speaker 12: in endless wars and being more focused on the US 739 00:38:47,040 --> 00:38:48,120 Speaker 12: in America. 740 00:38:47,719 --> 00:38:53,239 Speaker 2: First Manifest Destiny, whatever happened to Greenland. So, Rick, this 741 00:38:53,360 --> 00:38:55,360 Speaker 2: is the part where I'm supposed to ask you about Congress, 742 00:38:55,360 --> 00:38:56,759 Speaker 2: and I think I know what your answer is going 743 00:38:56,800 --> 00:39:00,120 Speaker 2: to be But there are House and Senate warpowers resolutions 744 00:39:01,000 --> 00:39:05,160 Speaker 2: that are potentially on the floor as soon as next week. 745 00:39:06,440 --> 00:39:08,759 Speaker 2: You've even got a Republican and Don Bacon here says 746 00:39:08,840 --> 00:39:10,920 Speaker 2: the President has made zero case for what they're doing 747 00:39:10,960 --> 00:39:13,239 Speaker 2: in Venezuela. Will there be a world in which a 748 00:39:13,320 --> 00:39:16,000 Speaker 2: War Powers Act could pass the House or Senate? 749 00:39:17,120 --> 00:39:17,759 Speaker 3: I don't think so. 750 00:39:18,880 --> 00:39:21,600 Speaker 13: I think the President feels like, you know, he's got 751 00:39:21,680 --> 00:39:23,640 Speaker 13: enough authorization to do what he's doing. 752 00:39:24,680 --> 00:39:28,080 Speaker 3: And and and look, Congressman Bacon is right. 753 00:39:28,160 --> 00:39:30,520 Speaker 13: I mean, one of the things that Donald Trump is 754 00:39:30,560 --> 00:39:33,400 Speaker 13: not doing is telling the public what his goals and 755 00:39:33,440 --> 00:39:35,560 Speaker 13: objectives are. I mean, we used to worry about how 756 00:39:35,600 --> 00:39:38,400 Speaker 13: to get out of a conflict and and and have 757 00:39:38,480 --> 00:39:40,560 Speaker 13: a clear strategy for that. We don't even have a 758 00:39:40,600 --> 00:39:42,600 Speaker 13: clear strategy for how to get into this conflict. And 759 00:39:42,640 --> 00:39:44,400 Speaker 13: we don't even know what kind of conflict it's going 760 00:39:44,480 --> 00:39:48,880 Speaker 13: to be. So it's it's it's kind of unsure ground 761 00:39:48,960 --> 00:39:51,279 Speaker 13: for most Republicans in the House and Senate. I think 762 00:39:51,280 --> 00:39:54,799 Speaker 13: they're going to give Trump leeway on this. Yes, they're 763 00:39:54,800 --> 00:39:58,640 Speaker 13: embarrassing things happening. As it relates to the September second 764 00:40:00,040 --> 00:40:04,440 Speaker 13: boat attack where you know, Republicans are very uncomfortable with 765 00:40:04,520 --> 00:40:08,120 Speaker 13: the approach that Trump took, but these are on tactical issues, 766 00:40:08,160 --> 00:40:12,279 Speaker 13: not the overall strategy of cleaning out a really pernicious 767 00:40:12,320 --> 00:40:13,480 Speaker 13: government that. 768 00:40:13,480 --> 00:40:14,280 Speaker 3: Has a lot of. 769 00:40:15,680 --> 00:40:19,200 Speaker 13: I would say, loyalties to China and Russia in our 770 00:40:19,239 --> 00:40:21,480 Speaker 13: own hemisphere. And I think you're going to see that go, 771 00:40:21,760 --> 00:40:23,799 Speaker 13: you know, piece by piece. Remember what Donald Trump did 772 00:40:23,800 --> 00:40:26,759 Speaker 13: in the first couple of months of his administration. He 773 00:40:26,840 --> 00:40:30,360 Speaker 13: cleaned out Chinese out of the port systems in Panama Canal. 774 00:40:31,080 --> 00:40:34,560 Speaker 13: I don't think this is inconsistent. You got to guess 775 00:40:34,600 --> 00:40:36,840 Speaker 13: what his strategy is because he won't articulate it. 776 00:40:37,239 --> 00:40:39,640 Speaker 3: But I think it's a pretty clear plan. 777 00:40:41,080 --> 00:40:42,960 Speaker 2: Genie, we've got a minute left. How much hope do 778 00:40:42,960 --> 00:40:46,680 Speaker 2: you have? How optimistic are you about a war powers resolution? 779 00:40:46,840 --> 00:40:51,120 Speaker 2: Primilla Jaia Paul, the Democrat leader of the Progressive Caucus, 780 00:40:51,120 --> 00:40:54,320 Speaker 2: says this tanker seizure makes this even more urgent. 781 00:40:56,160 --> 00:40:59,200 Speaker 12: It absolutely does. I mean, rand Paul said, it sounds 782 00:40:59,360 --> 00:41:01,719 Speaker 12: like it. We are at the beginning of a war. 783 00:41:01,840 --> 00:41:04,840 Speaker 12: And it is curious for a president who made his 784 00:41:05,000 --> 00:41:08,760 Speaker 12: name in the Foreign policy by arguing that George Bush, 785 00:41:09,200 --> 00:41:12,319 Speaker 12: that Hillary Clinton they all did the wrong thing with 786 00:41:12,880 --> 00:41:17,320 Speaker 12: going into these foreign wars, and yet here we are again. 787 00:41:17,440 --> 00:41:19,640 Speaker 12: It's feeling a lot like two thousand and two thousand 788 00:41:19,680 --> 00:41:20,000 Speaker 12: and one. 789 00:41:21,280 --> 00:41:23,719 Speaker 2: Boy, that's saying a lot. Jeannie, thank you very much 790 00:41:23,840 --> 00:41:27,640 Speaker 2: as always, and Rick are Bloomberg Politics contributors Geenie Shanzano 791 00:41:27,680 --> 00:41:33,360 Speaker 2: and Rick Davis and a great panel. Thanks for listening 792 00:41:33,360 --> 00:41:36,680 Speaker 2: to the Balance of Power podcast. Make sure to subscribe 793 00:41:36,719 --> 00:41:39,400 Speaker 2: if you haven't already, at Apple, Spotify, or wherever you 794 00:41:39,480 --> 00:41:42,239 Speaker 2: get your podcasts, and you can find us live every 795 00:41:42,239 --> 00:41:46,520 Speaker 2: weekday from Washington, DC at noontime Eastern at Bloomberg dot com.