Speaker 1: From the Bloomberg Interactive Burgers Studios. This is Bloomberg day
Speaker 1: Break for Friday, April twenty eighth.
Speaker 2: Coming up today, Kevin McCarthy turns up the heat on
Speaker 2: President Biden to avoid a debt sealing crisis. Will bring
Speaker 2: you our interview with.
Speaker 1: The House Speaker, a whipsaw session for Amazon following its
Speaker 1: earnings report and cloud forecast, and US officials are reportedly
Speaker 1: coordinating talks to rescue First Republic Bank.
Speaker 3: Your governor, Hocles sends, A conceptual agreement has been reached
Speaker 3: in a budget with a state legislature. Was a deadly
Speaker 3: runching attack on Kiev. I'm John Tucker. More ahead, I'm.
Speaker 4: John Stashdaron Sports. The Jets and Giants both drafted defensive players.
Speaker 4: Wins for the Mets and Yankees. The Devil shut out
Speaker 4: the Rangers in Game five.
Speaker 5: That's all straight Ahead on Bloomberg day Break, the business
Speaker 5: news you need to starn your day in just one
Speaker 5: fifteen minute podcast each morning on Apples, Spotify, The Bloomberg
Speaker 5: Business Appen everywhere you get your podcasts.
Speaker 1: Good morning, I'm Amy Morris and I'm Karen Moscow. Here
Speaker 1: are the stories we're following.
Speaker 2: Today. First House Speaker Kevin McCarthy is escalating demands for
Speaker 2: President Biden to avoid a debt seialing crisis. He tells
Speaker 2: Bloomberg he thinks the Senate and President are ignoring the
Speaker 2: issue while a Republicans want to raise the debt ceiling
Speaker 2: and cut spending.
Speaker 6: We help the supply chain.
Speaker 7: We we pill eighty seven thousand IRS agents, We make
Speaker 7: America energy independent. We cut the red tape so we
Speaker 7: can build things again in America. I don't think that's radical.
Speaker 7: They haven't done anything on the debt ceiling, and the
Speaker 7: President has ignored this problem. He's actually putting the economy
Speaker 7: of America in jeopardy.
Speaker 2: Senate Democrats have declared McCarthy's bill dead on arrival. President
Speaker 2: Biden and Congressional Democrats oppose the measure because it attaches
Speaker 2: sweeping spending cuts as a condition for raising the debt ceiling.
Speaker 2: Stay tuned for our complete extended interview with Speaker McCarthy
Speaker 2: coming up shortly on Bloomberg Daybreak.
Speaker 1: Meantime, maybe there's concern among Democrats that President Biden's reelection
Speaker 1: announcement is not exciting voters. The President's campaign reports not
Speaker 1: raising much money following the Tuesday announcement, and Bloombery Scott
Speaker 1: Carr has more from Washington.
Speaker 8: Sources close to the campaign say the sluggish fundraising comes
Speaker 8: primarily from a lack of outreach to major donors who
Speaker 8: can boost early totals by making large contributions to the
Speaker 8: Democratic Party. They say ultimately Biden will have no trouble
Speaker 8: raising money, but that the campaign had planned to release
Speaker 8: fundraising totals after forty eight hours with the hope of
Speaker 8: generating some excitement and now may have to wait. On
Speaker 8: the Republican side, many major donors have decided to withhold
Speaker 8: contributions until it's apparent a clear challenger emerges to Donald
Speaker 8: Trump in Washington. I'm Scott Carr, Bloomberg Daybreak.
Speaker 2: Thank you, Scott, speaking of Donald Trump. As former Vice
Speaker 2: president Mike penns has now testified before the federal grand
Speaker 2: jury investigating the plot to overturn the election. We get
Speaker 2: that story from Bloomberg's Ed Baxter.
Speaker 9: Pence is the highest profile person to do so, and
Speaker 9: it is significant because he has inside in for at
Speaker 9: the highest level of Trump's activities to try and undermine
Speaker 9: the process. Penn spent several hours before the grand jury
Speaker 9: being used by Special Counsel Jack Smith. Also of significance
Speaker 9: is the swiftness in which it took place, so fast
Speaker 9: after Trump lost his bid to have Pen's appearance blocked
Speaker 9: and before his team had the chance to file for
Speaker 9: the Supreme Court. The details of testimony, of course, our
Speaker 9: secret in San Francisco. I'm at Baxter Bloomberg daybreak.
Speaker 1: All righted, thanks, We'll turning to the markets now. Regional
Speaker 1: bank turmoil remains in focus. We have new developments on
Speaker 1: First Republic and we get the details from Bloomberry. Steve Rapoboard,
Speaker 1: Good morning, Steve.
Speaker 10: Good morning, Karen and Amy. Officials from the FDIC, the
Speaker 10: Treasury Department, and the Federal Reserve are huddling with companies
Speaker 10: to discuss a possible bailout for First Republic. That's according
Speaker 10: to Reuter's, which also says the government is recruiting more
Speaker 10: parties for the effort, including banks and equity firms, but
Speaker 10: it's unclear if Washington will participate in a rescue. First
Speaker 10: Republic was on the brink of collapse last month when
Speaker 10: other regional banks suddenly employed a coalition of large firms
Speaker 10: port thirty billion dollars into the struggling lender to keep
Speaker 10: it afloat live in New York. I'm Steve Rappaport, Bloomberg Daybreak.
Speaker 2: Thanks Steve. Amazon's also seeing volatility this morning. Initially earnings
Speaker 2: boosted at Amazon stock around twelve percent. Now it is
Speaker 2: down one point three percent in early trading. On the
Speaker 2: company conference call, Amazon warned that growth in its cloud
Speaker 2: business is cooling. Here's chief financial Officer Brian Olsovski.
Speaker 11: As expected customers continue to evaluate ways to optimize their
Speaker 11: cloud spending in response to these tough economic conditions in
Speaker 11: the first quarter, and we are seeing these optimizations continue
Speaker 11: into the second quarter, with April revenue growth rates about
Speaker 11: five hundred basis points lower than what we saw in
Speaker 11: Q one.
Speaker 2: CFO Brian Olsovski says Amazon's most profitable division saw a
Speaker 2: sixteen percent gain in revenue, the slowest growth rates since
Speaker 2: Amazon began breaking out the unit sales.
Speaker 1: Well, let's check some other stocks on the move this morning,
Speaker 1: Amy shares of Intel at more than four percent, the
Speaker 1: ship maker promising a recovery in the second half, leading
Speaker 1: investors to look past a disappointing profit margin forecast for
Speaker 1: the current quarter.
Speaker 2: And shares of snap are plunging more than nineteen percent.
Speaker 2: This morning, the snapchat maker reported its first ever decline
Speaker 2: in quarterly revenue after making major changes to its advertising tools, and.
Speaker 1: In Asia overnight amy the major focus was on monetary policy.
Speaker 1: The Bank of Japan announced plans to scrap its guidance
Speaker 1: on future interest rates at its first meeting under new
Speaker 1: governor Kazuo Uweita. At the same time, the BOJ is
Speaker 1: keeping stimulus measures unchanged as it seeks stronger inflation, and
Speaker 1: Bloomberg's Kathleen Hayes is in Japan to cover the policy decision.
Speaker 12: A little longer term, their view of inflation could change,
Speaker 12: and they're still very concerned that they are going to
Speaker 12: end policy eating too soon. They're going to make the
Speaker 12: same mistake they made back in the early two thousand
Speaker 12: when governor with a dissensive against a policy vote to
Speaker 12: raise rech what had to later be turned around had
Speaker 12: to cut. Many people remember that the BOJ I've heard
Speaker 12: that over and over and that's why they are so reluctant,
Speaker 12: and it surprises people. But the place's rising.
Speaker 1: This here is way of up target, and that's Bloomberg
Speaker 1: Kathleen Hayes well inflation may be above target. The BOJA
Speaker 1: projects price increases will be below two percent again in
Speaker 1: three years time. The Central Bank is also calling for
Speaker 1: a long term review of its policies. And this is Bloomberg.
Speaker 2: Thank you, Karen, five oh seven on Wall Street. Fifty
Speaker 2: one degrees in cloudy in New York this morning, rain
Speaker 2: moving in this afternoon. We're going up to sixty degrees today,
Speaker 2: windy and rainy tonight, down to fifty. Time now for
Speaker 2: a look at some of the other stories making news
Speaker 2: in New York and around the world. For that, we're
Speaker 2: joined by Bloomberg's John Tucker. Good morning, John and Amy.
Speaker 3: It took several weeks past the April first deadline, but
Speaker 3: New York Kemnaccathy Hockel finally announced a tentative deal on
Speaker 3: a two hundred and twenty nine billion dollars state budget.
Speaker 3: Hockel says that would provide major changes to New York
Speaker 3: bail laws.
Speaker 13: The agreement removes what is known as the least Restrictive
Speaker 13: Means standard, which many judges have said tied their hands.
Speaker 13: It gives judges discretion they need to hold island criminals accountable,
Speaker 13: while still upholding our commitment to a justice system that
Speaker 13: is fair and accessible to all.
Speaker 3: The governor also says the budget includes an increase in
Speaker 3: the minimum wage from fifteen dollars to seventeen dollars in
Speaker 3: New York City, Westchester County, and Long Island by twenty
Speaker 3: twenty six, and in the rest of the state a
Speaker 3: year later. It also provides funding for New York City's
Speaker 3: transit system. The woman accusing Donald Trump of rape went
Speaker 3: through an intense cross examination at the rape and defamation
Speaker 3: lawsuit against the former president. For hours, defense attorney Joe
Speaker 3: Tekapina attacked the credibility of accuser e Gene Carroll. Tekipina
Speaker 3: asked her why she didn't scream during the alleged attack.
Speaker 3: Karrol responded, he raped me, whether I screamed or not.
Speaker 3: Russia has fired more than twenty cruise missiles and two
Speaker 3: drones at Kiev and other parts of Ukraine. The attacks
Speaker 3: early today killed at least nine people. Two US Army
Speaker 3: helicopters collided and crashed in Alaska while returning from a
Speaker 3: training flight, getting three soldiers and injuring a fourth. The
Speaker 3: crash is the second accident involving military helicopters in Alaska
Speaker 3: this year. The Air Force has suspended two commanders in
Speaker 3: the same wing where Massachusetts Air National guardsman and suspected
Speaker 3: intelligence leader Jack Deshera worked Pentagon Press secretary Brigadier General
Speaker 3: Pat Ryder.
Speaker 14: The Air Force has initiated an investigation, as you know,
Speaker 14: the Air Force Inspector General is investigating the wing as
Speaker 14: you highlight my understanding, as they have suspended, temporarily suspended
Speaker 14: two leaders within that unit.
Speaker 3: Meanwhile, the judge presided over to SHARE's detention hearing put
Speaker 3: off an immediate decision whether the twenty one year old
Speaker 3: should be kept in custody until his trial and a
Speaker 3: tri state icon is gone. Stu Leonards Senior has died.
Speaker 3: Leonard founded a dairy store in nineteen sixty nine that
Speaker 3: became a regional grocery powerhouse. Under his name, Stu Leonard
Speaker 3: Senior was ninety three global news twenty four hours a
Speaker 3: day power blymore than twenty seven hundred journalist and analyst
Speaker 3: in over one hundred and twenty countries. I'm John Tucker.
Speaker 3: This is Bloomberg Amy.
Speaker 2: All right, thank you, John. It's five to ten on
Speaker 2: Wall Street time now for our Bloomberg Sports update. For that,
Speaker 2: we bring in John stashaer.
Speaker 4: Thanks Amy first round of the NFL Draft in Kansas City.
Speaker 4: Most felt the Jets to try to take a player
Speaker 4: to help out Aaron Rodgers. Their defense last season was
Speaker 4: very strong, yet they took a linebacker with the fifteenth pick,
Speaker 4: Will McDonald fourth from Ihowa State. Giants in recent years
Speaker 4: tried to improve their offense. This time they also went defense.
Speaker 4: At twenty five. They drafted Maryland cornerback Deonte Banks. Three
Speaker 4: quarterbacks taken in the first four picks, Alabama's Bryce Young
Speaker 4: to Carolina, Ohio State c J. Stroud goes to Houston.
Speaker 4: Anthony Richardson Florida drafted by Indianapolis. Alabama players went first
Speaker 4: and third, and Ohio State players went second and sixth.
Speaker 4: Baltimore star kV Lamar Jackson finally agreed to a new
Speaker 4: contract five years, an average salary of a record fifty
Speaker 4: two million. The Rangers Devil series began with a pair
Speaker 4: of five to one Ranger wins in New Jersey, but
Speaker 4: since then the Rangers have scored only two goals in
Speaker 4: three games, none last night a four to nothing Devils
Speaker 4: win that has them now up three to two with
Speaker 4: Game six tomorrow at the Garden Tampa Bay State alive
Speaker 4: winning at Toronto. Vegas advances beating Winnipeg NBA. The Celtics
Speaker 4: advanced around two at Game six, winning Atlanta two. Big
Speaker 4: Game six is tonight in the West, with the Lakers
Speaker 4: and Warriors both at home, both up three to two.
Speaker 4: Wildlie at Cityfield Mets. We're up seven, three, down eight seven.
Speaker 4: They scored twice in the eighth inning to win nine
Speaker 4: to eight, avoiding what would have been an embarrassing sweep
Speaker 4: by Washington, and now the Mets welcome in Atlanta for
Speaker 4: a four game series. Yankees won four to two at Texas,
Speaker 4: three solo home runs to back Garrett Cole, who's now
Speaker 4: five and zero in the era just over one John
Speaker 4: Stashawa Bloomberg Sport.
Speaker 5: Live from coast to coast, from New York to San Francisco,
Speaker 5: Boston to Washington, d C. Nationwide on SiriusXM, the Bloomberg
Speaker 5: Business Appen Bloomberg dot com. This is Bloomberg Daybreak.
Speaker 2: Good morning, I Amy Morris. Let's get more of that
Speaker 2: interview now. With Kevin McCarthy facing a fractured caucus, the
Speaker 2: House Speaker secured a successful vote on his debt sealing proposal.
Speaker 2: Its passage puts pressure on President Biden and Democrats to
Speaker 2: get a deal done and avoid a US default, And
Speaker 2: now McCarthy's accusing President Biden of purposefully putting the economy
Speaker 2: at risk. The President, for his part, says he would
Speaker 2: veto with the Republican bill.
Speaker 14: Happy to me with McCarthy, but not on whether or
Speaker 14: not the debt limit gets extended.
Speaker 10: More of them, that's not negotiable.
Speaker 2: President Biden is calling for negotiations, but McCarthy says the
Speaker 2: President and Democrats can avoid a debt sealing crisis by
Speaker 2: embracing the Republican plan. The House Speaker sat down with
Speaker 2: Bloomberg's and Marie Hordern to discuss this all late yesterday.
Speaker 2: He says the Democrat controlled Senate has nothing, has done
Speaker 2: nothing to avoid a debt sealing crisis, and accuses the
Speaker 2: President of ignoring the problem. Let's bring you that conversation
Speaker 2: right now.
Speaker 15: Many people doubted you were going to be able to
Speaker 15: get this bill passed through the floor.
Speaker 2: You prove them wrong.
Speaker 15: You successfully got it through the floor two hundred and
Speaker 15: seventeen voting in favor of you. President Biden, though, says
Speaker 15: he's only going to meet with you if you separate
Speaker 15: the fiscal spending cuts the budget with the debt ceiling.
Speaker 6: So what comes next, Well, I.
Speaker 7: Don't know because it was eighty five days ago. I
Speaker 7: sat down with the President February first, talking about finding
Speaker 7: a sensible, responsible way to raise the debt limit and
Speaker 7: make us less dependent on China, curve inflation, and bring
Speaker 7: growth to this economy. And that's exactly what we just did.
Speaker 7: The President then said he wasn't going to meet with
Speaker 7: me until we showed him a plan. So then I
Speaker 7: showed him a plan and then we passed it. You know,
Speaker 7: the way government works is the House passes the bill,
Speaker 7: the Senate passes a bill, and then you conference together
Speaker 7: and the President can sign decide whether he signs it
Speaker 7: or not. The challenge here is the Senate's done nothing.
Speaker 7: But I shouldn't be rude. They did name March Maine
Speaker 7: maple syrup mon. They did get that done, but they
Speaker 7: haven't done anything on the debt sitting, and the President
Speaker 7: has ignored this problem. He's actually putting the economy of
Speaker 7: America in jeopardy by not doing anything. Because only the
Speaker 7: House has raised the debt limit, passed the bill to
Speaker 7: do that and at the same time grow the economy.
Speaker 6: And we did it with ideas that he has voted
Speaker 6: for work requirements. He voted for that as a Senator.
Speaker 7: But more importantly, just a couple months ago in Wisconsin
Speaker 7: it passed with eighty two percent of the vote to
Speaker 7: limit our growth in the future so government doesn't get
Speaker 7: out of control. Well, that's an idea from Joe Manchin.
Speaker 7: We help the supply chain, We pill eighty seven thousand
Speaker 7: IRS agents, We make America energy independent, We cut the
Speaker 7: red tape so we could build things again in America.
Speaker 6: I don't think that's radical.
Speaker 7: And the words that are coming out of the White
Speaker 7: House that we are going to melt children's bones, we're
Speaker 7: going to create asthma.
Speaker 6: There's nothing in the bill that does that.
Speaker 7: It actually protects veterans, protects our military, makes his cur
Speaker 7: of inflation, but keeps us a stronger pace for the future.
Speaker 15: So Biden didn't say, though, show me a plan. He said,
Speaker 15: show me a budget. This is just a proposal, but
Speaker 15: it's not exactly a budget. But he is signaling an
Speaker 15: openness if these two were separated. So why not just
Speaker 15: pass a debt ceilings? This is what Congress is scheduled
Speaker 15: to do and has to do for the full faith
Speaker 15: and credit of the United States.
Speaker 6: And then at the same time have.
Speaker 15: Those negotiations regarding a budget for.
Speaker 6: The fiscal year.
Speaker 7: Okay, well, let me just clarify to your viewers so
Speaker 7: they don't get mixed up like you did. A budget
Speaker 7: has nothing to do with the debt ceiling. And so
Speaker 7: you said we should pass a debt increasing a debt ceiling.
Speaker 6: That's what we did yesterday.
Speaker 7: We increase the debt ceiling by one point five trillion
Speaker 7: that goes into the next year. We also helped grow
Speaker 7: the economy, curve inflation, and make savings. So we did
Speaker 7: everything everybody requested of And what people really need to
Speaker 7: look to is the president has done nothing. He's ignored
Speaker 7: it for eighty five days. And if you wonder, has
Speaker 7: this ever been combined together?
Speaker 6: Yeah? Has the president ever voted for that? Yeah?
Speaker 7: He voted for it for four times. And the four
Speaker 7: times he voted against the debt ceiling, you know why
Speaker 7: he said he did because he wanted to see more
Speaker 7: fiscal changes without he didn't want to vote for clean
Speaker 7: debt ceiling. Every single time we move forward on the
Speaker 7: debt ceiling, last time, Nancy Pelosi said she wouldn't raise
Speaker 7: the debt ceiling without the economics the spending decided upon.
Speaker 7: We watched Chuck Schumer say the leverage all he has
Speaker 7: is to deal with the debt ceiling. So I don't
Speaker 7: know why they're changing everything now. The debt ceiling negotiations
Speaker 7: in twenty eleven were.
Speaker 6: Called the Biden talks.
Speaker 7: Biden ridiculed anybody who wouldn't sit down to negotiate. So
Speaker 7: I'm not sure if he can't remember what he did
Speaker 7: in the past or what he said in the past.
Speaker 6: But the one thing I do know for history is
Speaker 6: we have never defaulted.
Speaker 7: And the House is the only place that has taken
Speaker 7: in action to already raise the debt ceiling through the
Speaker 7: House and actually put an economic plan that has savings.
Speaker 7: We're at thirty two trillion dollars in debt. That's bigger
Speaker 7: than our entire economy, twenty percent bigger. The current Congressional
Speaker 7: Budget Office says we're going to pay ten point five
Speaker 7: trillion dollars just an interest in the next ten years.
Speaker 7: But compare that to what we paid since nineteen.
Speaker 6: Forty till today, eighty three.
Speaker 7: Years, only nine trillion if we continue down this path
Speaker 7: for the first time in the history of a ten
Speaker 7: year window of any president, Transportation, Medicare.
Speaker 6: And Social Security go in solve it.
Speaker 7: So he's actually cutting those programs and just sitting there
Speaker 7: ignoring it, treating it like he treats the border, ignoring it.
Speaker 6: Think it'll go away. It will not go away.
Speaker 15: So you want these two issues to be congruent with
Speaker 15: each other, and you want budget talks to go alongside
Speaker 15: raising the debt ceiling with the White House wants a
Speaker 15: separate discussions. But Congressman Ralph Norman told Political Playbook that,
Speaker 15: in a bid to win all your conferences, support that
Speaker 15: you promised serves that the debt ceiling bill they voted
Speaker 15: on yesterday was a floor, not a ceiling, and that
Speaker 15: you would personally oppose a fight against any debt sealing
Speaker 15: agreement that does not include all of the red meat
Speaker 15: provisions in the House bill. If this is the floor,
Speaker 15: where is there going to be even room for compromise
Speaker 15: between you and the White House?
Speaker 7: You know what I'm taking exactly what Nancy Pelosi said
Speaker 7: as the last speaker, that the just a debt sealing
Speaker 7: vote cannot pass the floor without dealing with the budget.
Speaker 7: We are at a thirty two trillion dollar deficit. When
Speaker 7: are we ever going to take this up? The Democrats
Speaker 7: had added six trillion dollars. The President wants to spend
Speaker 7: more money than he spent during COVID.
Speaker 6: So let me ask you this.
Speaker 7: To the American public, more than seventy percent believe we
Speaker 7: should sit down to negotiate. That's the design of government.
Speaker 7: But should we actually save money too? Is there nowhere
Speaker 7: in government that you could save money? What about the
Speaker 7: billions of dollars that have already been appropriated for the pandemic.
Speaker 7: The President signed a bill this year that the pandemic
Speaker 7: has ended. If this money has dormant for two years
Speaker 7: and not spent during the pandemic, why should we spend
Speaker 7: it now? That's the hard working taxpayers money. Why wouldn't
Speaker 7: you call that back? We have a supply chain problem,
Speaker 7: So why wouldn't we help people get jobs? What work
Speaker 7: requirements actually do for those who are able body with
Speaker 7: no dependents, something the president had voted for before.
Speaker 6: Why don't we protect so we don't.
Speaker 7: Have inflation in the future and actually curve how much
Speaker 7: government can grow by It grew by thirty percent under
Speaker 7: the Democrat control, so we cap it at one percent.
Speaker 7: That's an idea of Joe Manchin, a Senator and a Democrat.
Speaker 7: Did you see what Joe Manchin said today? He said,
Speaker 7: if the President does not sit down and negotiate with
Speaker 7: the speaker myself, that the American public will blame him
Speaker 7: for the first historical default.
Speaker 6: In American history.
Speaker 7: And that's exactly what has the last eighty five days.
Speaker 15: Yes, and he also talked about a common sense compromise.
Speaker 15: So your question to you, if there was a compromise,
Speaker 15: do you think you're going to have the unity in
Speaker 15: your caucus that you were able to receive last night.
Speaker 7: You know, that's a great question because that's the same
Speaker 7: question I had all week whether I could pass this bill.
Speaker 7: You know what happens with a compromise. We can get
Speaker 7: something together. It's what I sat down with the president
Speaker 7: the very beginning in February.
Speaker 6: First, I said, mister.
Speaker 7: President, why don't we sit down and work through it.
Speaker 7: There's two things that I will not do, mister President.
Speaker 7: I will not raise taxes and we will not pass
Speaker 7: a clean debt sealing. But we can talk about everything else.
Speaker 7: We could spend less money, we could secure our border.
Speaker 7: We can make ourselves energy independence so we make more jobs.
Speaker 7: We could do work requirements, we could claw back COVID money.
Speaker 7: All of that could save, and we could try to
Speaker 7: come to an agreement. The only way that you can
Speaker 7: come to an agreement is if the other side has
Speaker 7: any ideas. I produced our plan, we prove we can
Speaker 7: pass it.
Speaker 6: Show me what yours is.
Speaker 7: The Senate has done nothing, the President has done nothing,
Speaker 7: So tell me where is their compromise.
Speaker 6: We're the only people.
Speaker 7: That have passed a bill that will raise the debt
Speaker 7: limit so we won't have economic and a default.
Speaker 6: The President has not, so I'm not quite sure what
Speaker 6: he's doing.
Speaker 15: Well, the President did put out a budget, and he
Speaker 15: has said that he was waiting for the Republican budget.
Speaker 15: But I do agree with you in the sense that
Speaker 15: this is an opening salvo of these negotiations, since you
Speaker 15: were able to pass this plan. I'm guessing the White
Speaker 15: but understand reaching out because I saw their statements. I
Speaker 15: just want to quickly ask you, though, because at some
Speaker 15: point the Senate, well they're not going to they say
Speaker 15: it's debt on arrival. But what do you make of
Speaker 15: Mitch McConnell, your colleague in the Senate Minority leader. He
Speaker 15: has really deferred this to you. What kind of role
Speaker 15: do you think he can play in these negotiations?
Speaker 7: Okay, but before I answer that, we have to clarify.
Speaker 7: You have said something twice about a budget. Okay, you
Speaker 7: have to understand this is not a state capital. When
Speaker 7: we pass a budget in the House, it never goes
Speaker 7: to the president. A budget resolution is not binding. You
Speaker 7: can pass a budget, but it doesn't raise the debt limit.
Speaker 7: So don't confuse a budget with a debt. We are
Speaker 7: coming up on a debt limit here in June or July.
Speaker 7: That's where the default raises. So what the House did
Speaker 7: was the action to deal with the debt limit. We
Speaker 7: produced a plan that would limit save and grow. Now
Speaker 7: to your other question about Mitch McConnell. The Senate Republicans,
Speaker 7: they are saying the exact same thing. They support our plan.
Speaker 7: They're telling Schumer, why don't you produce something. They're telling
Speaker 7: the President that he needs to sit down and negotiate.
Speaker 7: That's what the majority of America is saying. America believes regardless,
Speaker 7: it doesn't matter what party you're in, you should sit
Speaker 7: down find common ground, come back with a responsible plan
Speaker 7: that could put our economy back on the right track,
Speaker 7: curve inflation, make us less dependent on China, secure and
Speaker 7: protect Medicare and social Security, and raise the debt limit.
Speaker 7: That's what we've done in the House, and that's what
Speaker 7: I'd like to talk to the President about.
Speaker 15: You mentioned medicaid. I know that this bill also accelerates
Speaker 15: some provisions to next year instead of twenty twenty five
Speaker 15: in access to medicaid. And I'm sure you've seen the
Speaker 15: ads the former President Trump is running now against Ron
Speaker 15: de Santis. President Donald Trump is saying that he wants
Speaker 15: to keep Medicare and social Security and he's going after
Speaker 15: Ron DeSantis and what he said in the past on that.
Speaker 15: Do you think, given this bill does touch medicaid in
Speaker 15: some respects, the House Republicans are going against the leader
Speaker 15: of the party.
Speaker 7: Okay, again, I don't want to correct you, but you
Speaker 7: said two different things here. Okay, you talked about medicaid,
Speaker 7: Medicare and Social Security.
Speaker 6: Those are three different things in our bill.
Speaker 7: It doesn't It only protects Medicare and Social Security. Currently,
Speaker 7: the President would cut it by doing nothing medicaid.
Speaker 6: All we do is in Medicaid.
Speaker 7: If you are able body and you have no dependence,
Speaker 7: it could as a work requirement. Now, what does that
Speaker 7: actually mean? Twenty hours? That means you could go to
Speaker 7: school for twenty hours. That just means you're looking for
Speaker 7: a job. It helps you that we find every satistical
Speaker 7: point in the past.
Speaker 6: It puts more people to work.
Speaker 7: This is the exact same thing that Wisconsin just a
Speaker 7: month ago had an election statewide where the Democrats were
Speaker 7: very successful. They overtook the Supreme Court, and on the
Speaker 7: ballot there was a work requirement for Medicaid. It's paid
Speaker 7: half by the state and half by the federal government.
Speaker 7: You have an f map not exactly equal there. But
Speaker 7: what it does is it passed by eighty two percent
Speaker 7: of the vote. So you know what's interesting here is
Speaker 7: this is what passed and was signed in the law
Speaker 7: with Senator Biden then with President Clinton. So yes, we
Speaker 7: think this helps people to move them into the workforce,
Speaker 7: help the supply chain, and you know what happens when
Speaker 7: they get that job, they're paying into Medicare and Social Security.
Speaker 6: Those were the two.
Speaker 7: Things that President Trump was talking about, and so our
Speaker 7: plan actually strengthens those What President Biden is doing is
Speaker 7: automatically cutting those because they come in solvent if his
Speaker 7: budget is put in place.
Speaker 15: I want to quickly ask you about something else that's
Speaker 15: circulating today. Russia TV has been airing this video of
Speaker 15: the Fed Chair Jay Powell, who he thinks in the
Speaker 15: moment he's talking to President Zelenski, but it's actually his
Speaker 15: Russian pranksters. There's been a long list of foreign officials
Speaker 15: and politicians that these pranksters have gone after. You are
Speaker 15: the Speaker of the House. I'm curious, have you ever
Speaker 15: been approached by these individuals. Have they've ever gotten an
Speaker 15: invitation to maybe sit down with a Zelenski or someone
Speaker 15: from the Ukrainian government.
Speaker 7: Now I haven't sat down with real Zelenski, but I
Speaker 7: have had the pranksters try to get me, and they
Speaker 7: did not. My staff actually did the backwork and found
Speaker 7: out they were pranksters.
Speaker 6: But there's a long history here. We had Adam Schift fell.
Speaker 7: For this and said some really stupid things, and he
Speaker 7: did that as the chairman of the Intel Committee.
Speaker 6: Which was shocking to me that he would do that
Speaker 6: or the things.
Speaker 7: But he was so driven to go after President Trump
Speaker 7: at the time, he would talk to anyone and believe
Speaker 7: anything they would say. Now did this to Colon to
Speaker 7: J Powell with the Federal Reserve, which elected officials need
Speaker 7: to be warned and need to do double checking before they.
Speaker 6: Take these calls so they have a clear understanding.
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