WEBVTT - How the Longest Government Shutdown Is Impacting the Economy 0:00:02.720 --> 0:00:07.200 Bloomberg Audio Studios, podcasts, radio news. 0:00:09.119 --> 0:00:12.200 The US is now on day thirty seven of its 0:00:12.280 --> 0:00:14.200 longest government shutdown ever. 0:00:14.520 --> 0:00:17.560 Food banks around the country are seeing increased demand as 0:00:17.560 --> 0:00:20.599 people look to replace federal food benefits that were cut off. 0:00:20.680 --> 0:00:23.799 Tens of thousands of additional federal workers have joined hundreds 0:00:23.840 --> 0:00:25.240 of thousands already furlough. 0:00:25.320 --> 0:00:29.520 President Trump's Transportation Secretary Sean Duffy announcing the FAA will 0:00:29.520 --> 0:00:33.240 cut flight capacity by ten percent, which experts say means 0:00:33.440 --> 0:00:36.080 thousands of flights will be canceled. 0:00:36.240 --> 0:00:38.040 The longer it goes on. And we see this in 0:00:38.080 --> 0:00:40.320 the polling that the numbers creep up in terms of 0:00:40.400 --> 0:00:43.120 number of Americans who say that this shutdown is impacting 0:00:43.159 --> 0:00:44.400 them personally. 0:00:44.200 --> 0:00:46.720 Bloomberg's White House reporter Gregory Cordy. 0:00:47.200 --> 0:00:49.559 And that's because there's a lot of monthly things that 0:00:49.560 --> 0:00:51.800 the government does. If you're renewing a passport, if you 0:00:51.840 --> 0:00:54.880 rely on any kind of assistance over time, you're going 0:00:54.920 --> 0:00:57.280 to start to notice that your government's not responsive to 0:00:57.320 --> 0:00:57.800 your needs. 0:00:58.000 --> 0:01:02.000 Certainly, we are coming up against to the Thanksgiving holiday 0:01:02.200 --> 0:01:03.560 and just a few weeks. 0:01:03.240 --> 0:01:06.440 Here, Bloomberg's Congress editor Megan Scully. 0:01:06.480 --> 0:01:11.000 And we're seeing flight delays due to groundstops because of 0:01:11.040 --> 0:01:15.280 staffing shortages, particularly among air traffic controllers. Food prices have 0:01:15.400 --> 0:01:19.080 been a problem for many Americans now for the last 0:01:19.120 --> 0:01:23.920 several years, and with the shutdown comes uncertainty about the 0:01:23.920 --> 0:01:25.640 immediate future of snap benefits. 0:01:25.880 --> 0:01:28.959 Every shutdown is a little different. We and Washington have 0:01:29.200 --> 0:01:32.840 gotten used to this as a symptom of our political dysfunction, 0:01:33.800 --> 0:01:36.840 and to some extent, there's a script. But every shutdown, 0:01:36.959 --> 0:01:41.680 the political context is different, the timing is different. The 0:01:41.720 --> 0:01:44.520 government just does different things at different times of the year, 0:01:44.840 --> 0:01:48.040 and so yeah, leading into the holidays, and with the 0:01:48.040 --> 0:01:51.520 background of this affordability crisis, it's a perfect storm of 0:01:51.640 --> 0:01:53.360 issues all coming together with this shutdown. 0:02:00.760 --> 0:02:03.120 I'm Sarah Holder, and this is the big take from 0:02:03.120 --> 0:02:07.640 Bloomberg News Today on the show, the longest government shutdown 0:02:07.760 --> 0:02:11.760 in American history, Who it's impacting most, and what it 0:02:11.840 --> 0:02:21.560 means for the economy long term. The US's prolonged shutdown 0:02:21.680 --> 0:02:26.040 started on October first, after negotiations over the government's spending 0:02:26.080 --> 0:02:30.200 package broke down. Democrats couldn't get Republicans to agree to 0:02:30.240 --> 0:02:33.680 include subsidies for Affordable Care Act healthcare plans in the bill. 0:02:34.200 --> 0:02:37.760 Without them, the average healthcare premium is expected to double. 0:02:38.320 --> 0:02:41.200 And as the weeks have dragged on, the consequences of 0:02:41.200 --> 0:02:44.760 the shutdown and the stakes of reopening have become more 0:02:44.880 --> 0:02:45.760 and more urgent. 0:02:46.240 --> 0:02:50.320 Without a federal budget to pay for a whole variety 0:02:50.360 --> 0:02:53.400 of programs, One of the casualties of that is the 0:02:53.400 --> 0:02:54.800 Food Assistance program. 0:02:55.120 --> 0:02:58.000 That's my colleague Gregory Cordy, who covers the White House 0:02:58.080 --> 0:02:58.680 and the Budget. 0:02:58.880 --> 0:03:01.200 Formerly we knew as for food stamps. Now we call 0:03:01.240 --> 0:03:03.679 it SNAP, And as we get into the second month 0:03:03.680 --> 0:03:06.760 of the shutdown, the benefits well is running dry. This 0:03:06.919 --> 0:03:10.239 foodstamp program is funded on a month to month basis, 0:03:10.520 --> 0:03:14.200 but it costs about eight billion dollars eight or nine 0:03:14.360 --> 0:03:16.640 to fund food stamps for a month. 0:03:18.000 --> 0:03:22.040 SNAP has only been funded through October, and Bloomberg's Congress 0:03:22.120 --> 0:03:25.280 editor Megan Scully says the question of what happens to 0:03:25.360 --> 0:03:28.240 SNAP funding in November has been at the center of 0:03:28.280 --> 0:03:29.760 an ongoing legal fight. 0:03:30.160 --> 0:03:34.320 We've really seen Trump's priorities here. He has been very 0:03:34.360 --> 0:03:38.040 free with moving money to pay for military salaries, to 0:03:38.080 --> 0:03:40.920 pay for our salaries for law enforcement. But he went 0:03:40.960 --> 0:03:44.000 to court to fight against moving money out of the 0:03:44.040 --> 0:03:47.360 contingency Fund to pay for SNAP. Particularly the SNAP fight 0:03:47.400 --> 0:03:51.600 has been interesting given that this administration, particularly the White 0:03:51.640 --> 0:03:56.360 House Budget Office, has been extremely aggressive about asserting the 0:03:56.400 --> 0:03:59.520 power of the purse, which is really Congress's domain. But 0:03:59.600 --> 0:04:02.240 we saw with a SNAP fight for them, they really 0:04:02.280 --> 0:04:04.440 took a step back and said, no, we cannot legally 0:04:04.560 --> 0:04:07.800 move these funds until they were ordered by a federal 0:04:07.920 --> 0:04:09.160 judge to do so. 0:04:09.200 --> 0:04:12.360 The federal judge ordered the Trump administration to dip into 0:04:12.400 --> 0:04:16.760 the USDA's contingency fund to cover SNAP benefits, but the 0:04:16.760 --> 0:04:20.320 Trump administration says that money isn't enough to cover all 0:04:20.360 --> 0:04:22.800 of the forty two million people who rely on the 0:04:22.839 --> 0:04:26.280 program each month. In a court filing late Wednesday night, 0:04:26.480 --> 0:04:28.760 lawyers for the Department of Justice said they could only 0:04:28.800 --> 0:04:33.080 cover two thirds of recipient's benefits for November, But on Thursday, 0:04:33.279 --> 0:04:36.039 a federal judge in Rhode Island issued a new order 0:04:36.440 --> 0:04:39.200 saying the Trump administration has to find a way to 0:04:39.279 --> 0:04:43.640 pay out the full amount. Food access isn't the only 0:04:43.680 --> 0:04:46.760 thing that could be disrupted by the shutdown. As government 0:04:46.800 --> 0:04:50.200 employees across the country go without pay or are furloughed, 0:04:50.560 --> 0:04:53.479 it becomes harder and harder to pay bills like rents 0:04:53.520 --> 0:04:57.640 and mortgages. Given the length of the disruption, Gregory's team 0:04:57.640 --> 0:05:01.279 has been watching for signals that evictions or foreclosures could 0:05:01.360 --> 0:05:02.240 be on the horizon. 0:05:02.960 --> 0:05:05.720 Usually it takes sixty to ninety days for an eviction 0:05:05.839 --> 0:05:08.880 to work its way through whatever local process there is 0:05:08.920 --> 0:05:11.680 from state to state. But we've seen things like federal 0:05:11.720 --> 0:05:15.800 agencies give letters to their employees that they can then 0:05:15.880 --> 0:05:19.480 take to their mortgage company or their landlord saying, please 0:05:19.560 --> 0:05:22.520 excuse this federal employee from having to pay their rent 0:05:22.560 --> 0:05:24.679 this month because we're in the middle of a shutdown. 0:05:24.720 --> 0:05:27.400 Of course, that letter has no legal bearing. Your bank 0:05:27.600 --> 0:05:30.599 or your landlord is under no legal obligation to honor 0:05:31.120 --> 0:05:34.360 what's essentially an IOU from the federal government. We're going 0:05:34.440 --> 0:05:37.920 to pay this employee when the shutdown ends, Can you 0:05:37.960 --> 0:05:39.800 please let them slide on their rent? Those are the 0:05:39.880 --> 0:05:42.680 kinds of things as the shutdown continues that federal employees 0:05:42.720 --> 0:05:45.440 are feeling the strain, and of course that reverberates through 0:05:45.480 --> 0:05:49.760 the federal government as absenteeism rates go up from federal employees, 0:05:49.920 --> 0:05:53.360 many of whom are doing essential functions but have to 0:05:53.480 --> 0:05:57.320 juggle childcare and rent and other things in their daily 0:05:57.360 --> 0:05:59.279 lives because they're not getting paid. 0:06:00.680 --> 0:06:03.279 Those apps and tea rates can have a huge impact 0:06:03.440 --> 0:06:07.640 on one sector, in particular, air travel. When the government 0:06:07.680 --> 0:06:11.120 is shut down, workers under the Federal Aviation Administration, like 0:06:11.240 --> 0:06:14.919 air traffic controllers, have to work without pay, so do 0:06:15.040 --> 0:06:18.719 Transportation Security Administration workers TSA agents. 0:06:19.080 --> 0:06:22.200 We are seeing their apps and tee rates begin to 0:06:22.320 --> 0:06:26.800 tick up, resulting in flight delays and groundholds at airports 0:06:26.839 --> 0:06:29.880 around the country. Just last week, when the Senate was 0:06:30.000 --> 0:06:34.120 leaving town for a long weekend, the air traffic controllers 0:06:34.160 --> 0:06:37.960 at Reagan National Airport, the airport that most Senators used 0:06:38.040 --> 0:06:41.919 to leave DC, the closest airport to downtown Washington. Several 0:06:41.960 --> 0:06:44.279 air traffic controllers did not show up to work, and 0:06:44.320 --> 0:06:48.080 they had to do a ground stop, delaying traffic out 0:06:48.240 --> 0:06:51.080 of DC and delaying the center's ability to go home. 0:06:51.480 --> 0:06:54.960 With Thanksgiving only a few weeks away, a holiday where 0:06:55.000 --> 0:06:59.320 millions of Americans fly, the prospect of snarled airports and 0:06:59.400 --> 0:07:03.200 stranded tray travelers is another factor that could push Congress 0:07:03.240 --> 0:07:08.680 toward a shutdown resolution. On Tuesday, Transportation Secretary Sean Duffy, 0:07:08.760 --> 0:07:12.720 stuck with the White House's position, blaming Democrats for the shutdown, 0:07:13.240 --> 0:07:16.600 and he warned that soon things could get even worse. 0:07:17.880 --> 0:07:21.040 So if you bring us to a week from today, Democrats, 0:07:21.640 --> 0:07:26.720 you will see mass chaos. You will see mass flight delays, 0:07:27.160 --> 0:07:30.400 you'll see mass cancelations, and you may see us close 0:07:30.480 --> 0:07:33.120 certain parts of the airspace because we just cannot manage it, 0:07:33.120 --> 0:07:34.720 because we don't have air traffic. 0:07:35.040 --> 0:07:38.880 Then, on Wednesday, Duffy announced that the FAA would order 0:07:38.920 --> 0:07:42.720 airlines across forty major US airports to cut their flight 0:07:42.800 --> 0:07:47.200 capacity by ten percent, set to start on Friday. Airlines 0:07:47.200 --> 0:07:52.000 have started publishing updates about possible cancelations on their websites. So, 0:07:52.360 --> 0:07:56.040 with pressure mounting, what could get Congress to agree on 0:07:56.080 --> 0:08:00.440 a reopening plan, And even after the government shutdown ends, 0:08:00.840 --> 0:08:05.600 what could the lingering economic consequences be. That's after the break. 0:08:15.560 --> 0:08:18.280 We're nearing the close of the thirty seventh day of 0:08:18.280 --> 0:08:22.520 the US government shutdown. Every day it continues, Congress is 0:08:22.600 --> 0:08:25.760 under more and more pressure to come to a compromise 0:08:25.880 --> 0:08:29.800 that would end it. Tuesday's elections around the country swung 0:08:29.960 --> 0:08:33.720 in Democrats' favor, which some Republicans took as a signal 0:08:33.800 --> 0:08:38.600 that the shutdown could have lasting political consequences. Trump has 0:08:38.679 --> 0:08:42.280 repeatedly called for abolishing the filibuster in the Senate, an 0:08:42.360 --> 0:08:45.360 extreme move that would allow Republicans to force through a 0:08:45.400 --> 0:08:49.480 partisan budget on a simple majority vote, But Republicans in 0:08:49.520 --> 0:08:52.400 the Senate are wary of how Democrats could leverage that 0:08:52.480 --> 0:08:54.880 in the future and don't seem to have an appetite 0:08:54.920 --> 0:08:58.440 to do it. My colleagues, Congress editor Megen Scully and 0:08:58.440 --> 0:09:01.480 White House reporter Gregory Corre, have been at the White 0:09:01.480 --> 0:09:04.680 House and at the Capitol looking for signs of when 0:09:04.760 --> 0:09:08.520 the stalemate might thaw. Here's Megan on the state of play. 0:09:09.360 --> 0:09:12.760 I think what we're seeing now is, particularly in the Senate, 0:09:12.920 --> 0:09:16.240 we are seeing some softening among Senate Democrats on the 0:09:16.280 --> 0:09:20.680 hardline that they've taken on the shutdown. They had demanded 0:09:20.760 --> 0:09:24.760 that Affordable Care Act subsidies be addressed before they would 0:09:24.840 --> 0:09:27.760 vote to reopen the government. There are some moderates who 0:09:27.760 --> 0:09:31.040 are in talks with Republicans who are saying, just give 0:09:31.120 --> 0:09:34.040 us the promise of a vote down the road. Any 0:09:34.120 --> 0:09:37.000 kind of bipartisan deal has not come out yet, has 0:09:37.040 --> 0:09:39.480 not come to the floor. We're paying attention to the 0:09:39.520 --> 0:09:43.280 Senate right now because the Senate has the filibuster still 0:09:43.280 --> 0:09:46.960 in place, which we've heard President Trump certainly complain about 0:09:47.040 --> 0:09:49.839 in recent days. But that means that at least eight 0:09:50.080 --> 0:09:54.079 Senate Democrats need to sign on to this stopgap spending 0:09:54.120 --> 0:09:57.080 bill to get it through that chamber. It cannot pass 0:09:57.160 --> 0:09:59.120 as of right now on a simple majority. 0:10:00.000 --> 0:10:04.439 Can you characterize the Democrats' strategy versus the republicans strategy 0:10:04.800 --> 0:10:07.240 right now? Gregory? How are each side of the aisle 0:10:07.360 --> 0:10:09.440 sort of thinking about ending the shutdown? 0:10:09.760 --> 0:10:12.880 Well, I think both sides are keeping a close eye 0:10:12.880 --> 0:10:16.000 on the polling on this, which has favorite Democrats. If 0:10:16.040 --> 0:10:18.320 you look at the history of the modern shutdown back 0:10:18.320 --> 0:10:22.600 through the gingrid shutdowns of the nineties, generally voters view 0:10:22.720 --> 0:10:26.800 Republicans as the aggressors on these shutdowns, even if the 0:10:26.840 --> 0:10:30.240 shoes on the other foot, And so the pulling this 0:10:30.360 --> 0:10:34.000 time around shows maybe a slightly narrower difference between the 0:10:34.000 --> 0:10:38.160 two parties, but that voters blame Republicans more than Democrats. 0:10:38.320 --> 0:10:41.240 So Democrats have that at their backs. They also have 0:10:41.760 --> 0:10:44.720 the elections this week, which they did very well on 0:10:44.880 --> 0:10:45.840 up and down the ballot. 0:10:46.000 --> 0:10:49.160 And do you think the shutdown and the chaos at 0:10:49.160 --> 0:10:52.560 the federal government level had anything to do with those wins. 0:10:53.400 --> 0:10:57.360 President Trump certainly thinks so. He was out very early 0:10:57.720 --> 0:11:01.720 even on election night, blaming the shutdown for what happened. 0:11:01.760 --> 0:11:03.640 But I think both sides are taking stocks their wins 0:11:03.640 --> 0:11:06.800 and losses and trying to see if there is a 0:11:06.880 --> 0:11:11.960 new way forward on this that will require both sides 0:11:12.000 --> 0:11:14.840 to swallow a little bit of their pride and look, 0:11:15.000 --> 0:11:18.120 compromise is a dirty word in Washington these days. It 0:11:18.160 --> 0:11:20.840 gets harder and harder to do these deals with each 0:11:20.880 --> 0:11:23.000 successive shutdown, with each successive. 0:11:22.559 --> 0:11:26.520 Budget fight, each shutdown is different. And aside from the 0:11:26.640 --> 0:11:29.559 length of this shutdown, what has struck me about this 0:11:29.920 --> 0:11:33.600 is the lack of negotiations. Each day in the capital. 0:11:33.679 --> 0:11:37.200 We've gotten into a routine where Speaker Johnson has a 0:11:37.200 --> 0:11:40.280 ten o'clock press conference, Hakem. Jeffreys has one, a little 0:11:40.280 --> 0:11:43.560 while later, Chuck Schumer has one, John Thune has one. 0:11:43.679 --> 0:11:46.520 We're seeing letters being sent in the actual mail to 0:11:46.559 --> 0:11:49.440 people who work down the hall from each other. They're 0:11:49.480 --> 0:11:52.920 talking to the press, they're reiterating talking points over and 0:11:52.960 --> 0:11:55.720 over and throughout the day, but they're not talking to 0:11:56.000 --> 0:11:57.280 each other at all. 0:11:57.559 --> 0:11:59.840 There used to be not that long ago. These gangs 0:11:59.840 --> 0:12:02.120 of senators right that would work across the island. There 0:12:02.120 --> 0:12:03.800 would be a gang of eight or a gang of six, 0:12:03.880 --> 0:12:07.240 or or whatever number they needed to find the middle 0:12:07.240 --> 0:12:10.680 ground to reach a compromise. And that just doesn't happen anymore. 0:12:11.800 --> 0:12:15.800 On Thursday, House Speaker Mike Johnson said he's not optimistic 0:12:15.840 --> 0:12:19.679 about a quick end to the shutdown. Senate Democrats, emboldened 0:12:19.720 --> 0:12:22.959 by Tuesday's election results, spent much of the morning hunkered 0:12:22.960 --> 0:12:26.679 down in Chuck Schumer's capital office weighing their own next steps. 0:12:27.400 --> 0:12:30.920 But whenever the shutdown does end, things won't go back 0:12:30.960 --> 0:12:32.240 to normal overnight. 0:12:32.760 --> 0:12:36.559 When the shutdown ends. Whenever it ends, be that this 0:12:36.640 --> 0:12:40.280 week or Thanksgiving or the end of the year, or whenever, 0:12:41.040 --> 0:12:43.080 the question is going to be what starts back up 0:12:43.080 --> 0:12:46.160 again in what has been dormant for so long during 0:12:46.200 --> 0:12:49.640 the shutdown that we might not see it ever come back. 0:12:49.760 --> 0:12:53.200 So typically during a government shutdown, we lose about fifteen 0:12:53.280 --> 0:12:56.560 billion dollars a week is the sort of agreed upon 0:12:56.760 --> 0:13:00.520 general estimate that is typically recovered though the end of 0:13:00.559 --> 0:13:03.240 the shutdown, when all federal employees, including those who are 0:13:03.360 --> 0:13:06.520 essential and furloughed, get their back pay. And they can 0:13:06.559 --> 0:13:09.439 pay their bills, and they can do their Christmas shopping 0:13:09.679 --> 0:13:14.160 and all of that. Typically, not everything, but most economic 0:13:14.200 --> 0:13:18.560 activity is recovered. What's different about this one? There are 0:13:18.559 --> 0:13:21.400 a few things that are different about this one. One, 0:13:21.559 --> 0:13:26.440 Trump has threatened not to pay furloughed federal employees back, 0:13:26.440 --> 0:13:31.320 which has created a level of uncertainty among that population 0:13:31.520 --> 0:13:35.439 of people. The other one is lingering concerns about long 0:13:35.559 --> 0:13:39.080 term layoffs and what happens. So far, the layoffs have 0:13:39.160 --> 0:13:43.480 been targeted and have been relatively small. But this comes 0:13:43.480 --> 0:13:47.000 on the heels of cuts made by Elon Musk's Doge 0:13:47.080 --> 0:13:51.040 Group earlier this year, by federal employees who have chosen 0:13:51.080 --> 0:13:55.760 to quote take the fork and received essentially a buyout 0:13:55.760 --> 0:13:59.040 for resigning their positions. It's just one more layer of 0:13:59.080 --> 0:14:01.040 complexity to this workforce. 0:14:01.400 --> 0:14:05.360 Certainly, I think what the Trump administration has already done 0:14:05.600 --> 0:14:11.360 is looked at what areas that Congress hasn't funded and said, okay, look, 0:14:11.400 --> 0:14:13.720 if Congress has determined that these aren't things that we 0:14:13.880 --> 0:14:16.920 really have to do during a shutdown, then maybe we 0:14:16.920 --> 0:14:18.040 don't have to do them. Ever. 0:14:18.440 --> 0:14:21.400 But in addition to the federal workforce, you have forty 0:14:21.400 --> 0:14:25.520 two million Americans who get snap benefits who are financially 0:14:25.560 --> 0:14:29.280 constrained more so than usual during the shutdown. And then 0:14:29.320 --> 0:14:32.160 you have another twenty four million Americans who are getting 0:14:32.240 --> 0:14:35.600 notices now and have to decide whether or not to 0:14:35.640 --> 0:14:39.920 continue their Affordable Care Act insurance into next year. So 0:14:40.000 --> 0:14:42.880 there is a tremendous amount of uncertainty. And this is 0:14:42.960 --> 0:14:46.000 not a small portion of the population. It's a pretty 0:14:46.000 --> 0:14:48.280 big swath of the US economy. 0:14:49.480 --> 0:14:52.880 Measuring the true economic impacts of the shutdown and its 0:14:52.960 --> 0:14:57.040 aftermath will pose its own challenge. The agencies that collect 0:14:57.080 --> 0:15:01.800 economic statistical data have also gone dark. September reports went out, 0:15:01.880 --> 0:15:04.880 but no October data has been collected or shared. 0:15:05.200 --> 0:15:08.840 We've already missed a month's worth of price data. We 0:15:08.880 --> 0:15:12.480 are missing employment data. We might be able to fill 0:15:12.480 --> 0:15:15.000 in the gaps of some of those going backwards. It's 0:15:15.040 --> 0:15:17.600 really hard to collect prices if you're not doing it 0:15:17.600 --> 0:15:21.520 in real time. The Census Bureau is almost entirely shut down. 0:15:22.120 --> 0:15:26.480 So not only is this shut down impacting basic government services, 0:15:26.480 --> 0:15:28.920 but it's also creating a huge hole in our knowledge 0:15:29.000 --> 0:15:33.200 of exactly what the state of the economy is. And 0:15:33.800 --> 0:15:36.800 many of these statistics will take years to sort of 0:15:36.800 --> 0:15:40.720 recover and find its new baseline, and along with the 0:15:40.760 --> 0:15:45.200 Trump administration's cuts to statistical agencies, again, some of those 0:15:45.360 --> 0:15:47.520 statistics that we take for granted here at Boomberg may 0:15:47.560 --> 0:15:48.200 never come back. 0:15:50.320 --> 0:15:54.040 I pose the hardest question to Megan. She's covered Congress 0:15:54.080 --> 0:15:57.280 for years, so I asked her when she thinks the 0:15:57.320 --> 0:15:58.640 shutdown might end. 0:15:59.400 --> 0:16:02.080 I think we are starting to see some early shoots 0:16:02.080 --> 0:16:06.080 of compromise that could bring an end to this shutdown 0:16:06.240 --> 0:16:09.400 by the middle of next week. That will require not 0:16:09.480 --> 0:16:12.440 just a deal in the Senate, but Mike Johnson agreeing 0:16:12.560 --> 0:16:16.840 to whatever the Senate decides and bringing those four hundred 0:16:16.840 --> 0:16:19.880 and thirty five members back to Washington to vote, and 0:16:20.080 --> 0:16:24.000 of course Donald Trump agreeing to the deal as well. 0:16:24.200 --> 0:16:27.600 But I should also note that even when we get 0:16:27.640 --> 0:16:31.160 to the end of this shutdown, the clock is just 0:16:31.240 --> 0:16:34.920 starting to what might be the next shutdown. We're looking 0:16:35.000 --> 0:16:40.760 at delaying this debate over federal appropriations into December or January, 0:16:40.840 --> 0:16:44.960 not indefinitely, so there will be celebration when the government 0:16:45.000 --> 0:16:48.800 reopens and federal workers are paid and TSA and air 0:16:48.840 --> 0:16:52.240 traffic controllers are fully staffed. But we could be going 0:16:52.240 --> 0:16:55.160 through this all over again in just a month or two. 0:16:55.840 --> 0:16:59.600 Wow. So this government shutdown is the longest in history, 0:16:59.640 --> 0:17:01.720 but it might not be the. 0:17:01.720 --> 0:17:02.760 Last, certainly not. 0:17:06.000 --> 0:17:08.840 This is the Big Take from Bloomberg News. I'm Sarah Holder. 0:17:09.240 --> 0:17:11.760 To get more from The Big Take and unlimited access 0:17:11.800 --> 0:17:15.679 to all of Bloomberg dot com, subscribe today at Bloomberg 0:17:15.720 --> 0:17:19.320 dot com slash podcast offer. If you liked this episode, 0:17:19.520 --> 0:17:22.040 make sure to follow and review The Big Take wherever 0:17:22.080 --> 0:17:24.640 you listen to podcasts. It helps people find the show. 0:17:25.359 --> 0:17:27.480 Thanks for listening. We'll be back tomorrow.