1 00:00:00,800 --> 00:00:05,519 Speaker 1: Live from our nation's ca How do we reopen this economy? 2 00:00:05,600 --> 00:00:08,760 Speaker 1: The latest on how this pandemic is impacting farmers. What 3 00:00:08,840 --> 00:00:11,840 Speaker 1: does this do for the United States relationship with China? 4 00:00:12,000 --> 00:00:16,919 Speaker 1: Bloomberg Sound On, The Insiders, the influencers, the insides. We're 5 00:00:16,960 --> 00:00:20,160 Speaker 1: responding to this crisis and manufacturers are stepping up like 6 00:00:20,280 --> 00:00:23,800 Speaker 1: never before. We're looking at seventy Kennedys for different vaccines. 7 00:00:23,880 --> 00:00:26,520 Speaker 1: How do we make sure a pandemic of this scale 8 00:00:26,600 --> 00:00:30,680 Speaker 1: never happens again? This is Bloomberg Sound On with Kevin 9 00:00:30,760 --> 00:00:35,040 Speaker 1: Surrelate on Bloomberg and one oh five point seven f 10 00:00:35,159 --> 00:00:39,240 Speaker 1: M h D two. Joe Biden's talking about a lot. 11 00:00:39,440 --> 00:00:42,560 Speaker 1: He's talking about his vice presidential nominee pick. When's he 12 00:00:42,600 --> 00:00:47,640 Speaker 1: gonna pick her? Next week? He says, sometime next week. 13 00:00:48,200 --> 00:00:52,240 Speaker 1: And he's urging diversity at the Federal Reserve. Jordan Fabian 14 00:00:52,280 --> 00:00:54,760 Speaker 1: is going to break down everything coming out of the 15 00:00:54,760 --> 00:00:58,120 Speaker 1: White House, Bloomberg's White House Reporter, and we are going 16 00:00:58,160 --> 00:01:02,120 Speaker 1: to be joined by our all former Florida congress from 17 00:01:02,120 --> 00:01:05,000 Speaker 1: Patrick Murphy and another Floridian. It's like a Florida show. 18 00:01:05,440 --> 00:01:07,760 Speaker 1: It's like it's like, you know, I'm so desperate to 19 00:01:07,760 --> 00:01:10,440 Speaker 1: get out of Washington, d C. I'm like booking panels 20 00:01:10,440 --> 00:01:14,160 Speaker 1: from Florida. Adam Goodman, Republican media strategist, columnists and partner 21 00:01:14,160 --> 00:01:16,680 Speaker 1: at Ballard Partners in Washington, d C. But he's down there, 22 00:01:17,280 --> 00:01:20,080 Speaker 1: and uh, Florida Congressman Bruce Westerman is going to join 23 00:01:20,160 --> 00:01:23,080 Speaker 1: US Republican and Fred Chill's neck of the Woods are consulted. 24 00:01:23,480 --> 00:01:25,560 Speaker 1: So we've got a lot to uh to get to. 25 00:01:25,959 --> 00:01:28,400 Speaker 1: Let's start with the infections, because I'm reading from the 26 00:01:28,480 --> 00:01:33,399 Speaker 1: terminal new infections slowed in two U S states grappling 27 00:01:33,400 --> 00:01:37,639 Speaker 1: with outbreaks, California and Arizona. Florida, though reported a record 28 00:01:37,760 --> 00:01:41,800 Speaker 1: number of deaths. The American Federation of Teachers authorized its 29 00:01:41,800 --> 00:01:45,959 Speaker 1: members to strike if schools reopened without proper safety measures. 30 00:01:46,000 --> 00:01:48,720 Speaker 1: All right, So this is where we're at. You've got 31 00:01:48,720 --> 00:01:53,120 Speaker 1: California and Arizona saying that the cases have slowed, but 32 00:01:53,200 --> 00:01:55,400 Speaker 1: Florida is still dealing with it. And coming up, we're 33 00:01:55,400 --> 00:01:58,960 Speaker 1: gonna check in with our Floridian panel in the sun 34 00:01:59,000 --> 00:02:03,480 Speaker 1: Stiene state with the former Florida Congressman Patrick Murphy's Democrat, 35 00:02:03,520 --> 00:02:06,800 Speaker 1: and of course Adam Gimman, a Republican media consultant and 36 00:02:06,920 --> 00:02:11,120 Speaker 1: strategists and he knows everybody everywhere all over the world. Um, 37 00:02:11,160 --> 00:02:14,280 Speaker 1: one of those types. But first let's get let's get 38 00:02:14,280 --> 00:02:17,320 Speaker 1: to what the White House is saying with Jordan Fabian Bloomberg, 39 00:02:17,360 --> 00:02:20,200 Speaker 1: White House reporter. Jordan's you know, the President today was 40 00:02:20,280 --> 00:02:23,120 Speaker 1: back on messaging of saying, hey, we got to reopen 41 00:02:23,160 --> 00:02:25,080 Speaker 1: and he's pointing to this data flow coming out of 42 00:02:25,080 --> 00:02:30,560 Speaker 1: Cali and Arizona. Was he not, yeah, Kevin, But yesterday 43 00:02:30,639 --> 00:02:32,799 Speaker 1: he made that loud and clear when he was down 44 00:02:32,800 --> 00:02:35,240 Speaker 1: in North Carolina on a trip. And uh, you know, 45 00:02:35,240 --> 00:02:38,119 Speaker 1: it's sort of conflicted with this notion that he's adopted 46 00:02:38,120 --> 00:02:39,760 Speaker 1: a new tone. I mean, this is what he was 47 00:02:39,800 --> 00:02:43,880 Speaker 1: saying right in the spring when uh, places were debating 48 00:02:43,919 --> 00:02:47,400 Speaker 1: whether to lift restrictions, and a lot of people argue 49 00:02:47,440 --> 00:02:51,000 Speaker 1: that the early lifting of restrictions, cheered on by the 50 00:02:51,000 --> 00:02:55,079 Speaker 1: President is what helped cause these new outbreaks to begin with. 51 00:02:55,160 --> 00:02:57,840 Speaker 1: So a lot of people questioning why the President has 52 00:02:57,880 --> 00:03:01,359 Speaker 1: returned to this message, especially when he was trying to, um, 53 00:03:01,560 --> 00:03:04,680 Speaker 1: you know, instill the seriousness, uh that this virus still 54 00:03:04,680 --> 00:03:07,200 Speaker 1: poses to the United States just last week, and it 55 00:03:07,360 --> 00:03:09,720 Speaker 1: is remarkable, you know, I was just looking doing the 56 00:03:09,760 --> 00:03:12,880 Speaker 1: poll check before I came on air. Morn Consult Data 57 00:03:12,880 --> 00:03:15,280 Speaker 1: has got some new pulls out and they show a 58 00:03:15,360 --> 00:03:18,239 Speaker 1: surgeon support for Joe Biden in the sun Belt states 59 00:03:18,280 --> 00:03:22,040 Speaker 1: recently impacted by COVID nineteen. So it looks like whenever 60 00:03:22,120 --> 00:03:26,320 Speaker 1: there's an increase in cases, the swing voters are blaming 61 00:03:26,600 --> 00:03:29,400 Speaker 1: the occupant of the White House. How is he going 62 00:03:29,440 --> 00:03:32,200 Speaker 1: to change that? How is he gonna lump? I guess 63 00:03:32,200 --> 00:03:34,520 Speaker 1: you got to take the local strategy. If you're inside 64 00:03:34,520 --> 00:03:36,960 Speaker 1: of the reelection campaign, I guess you got to take 65 00:03:36,960 --> 00:03:39,280 Speaker 1: the local approach and try to blame the Democrats there 66 00:03:39,280 --> 00:03:42,920 Speaker 1: on the ground. There's really no other way. Yeah, Kevin, 67 00:03:43,320 --> 00:03:46,400 Speaker 1: with the president's political viruses, I've told him is that essentially, 68 00:03:46,440 --> 00:03:50,880 Speaker 1: now you know his manage the virus, you manage your campaign. 69 00:03:51,040 --> 00:03:53,080 Speaker 1: Is that you know, you take care of the problems 70 00:03:53,320 --> 00:03:56,120 Speaker 1: and show that you're leading UM, even if it's not, 71 00:03:56,240 --> 00:03:58,360 Speaker 1: you know, the quickest progress, just to show that you're 72 00:03:58,400 --> 00:04:01,560 Speaker 1: trying UM is gonna go a long way. And I 73 00:04:01,600 --> 00:04:04,280 Speaker 1: think that's why you saw that different approach last week 74 00:04:04,280 --> 00:04:07,680 Speaker 1: when he resumed the press conferences. He's taken a few 75 00:04:07,680 --> 00:04:10,520 Speaker 1: trips to vaccine facilities, et cetera to try to highlight 76 00:04:10,520 --> 00:04:13,440 Speaker 1: the progress. But the question is always with the president 77 00:04:13,720 --> 00:04:15,800 Speaker 1: is if he can stay on message. He struggled with 78 00:04:15,800 --> 00:04:18,719 Speaker 1: that in the past, and we're seeing indications now that 79 00:04:18,760 --> 00:04:21,400 Speaker 1: he's already getting off that message that he had last week. 80 00:04:21,440 --> 00:04:23,000 Speaker 1: All right, So that's what's going on in the virus. 81 00:04:23,040 --> 00:04:25,159 Speaker 1: Here's what's the talk of the town today. Not moving 82 00:04:25,160 --> 00:04:29,240 Speaker 1: markets at all. Obviously. William Barr offered a combative defense 83 00:04:29,400 --> 00:04:32,640 Speaker 1: of his independence from Donald Trump and the federal response 84 00:04:32,680 --> 00:04:35,360 Speaker 1: to protests as he testified before a committee in the 85 00:04:35,400 --> 00:04:38,440 Speaker 1: Democratic controlled House for the first time since he became 86 00:04:38,480 --> 00:04:42,200 Speaker 1: Attorney General more than seventeen months ago. Quote. The president 87 00:04:42,240 --> 00:04:45,679 Speaker 1: has not attempted to interfere, Bar said in opening comments 88 00:04:45,680 --> 00:04:49,040 Speaker 1: at the House Judiciary Committee hearing on Tuesday. On the contrary, 89 00:04:49,240 --> 00:04:51,080 Speaker 1: he has told me from the start that he expects 90 00:04:51,080 --> 00:04:54,719 Speaker 1: me to exercise my independent judgment, judgment to make whatever 91 00:04:54,760 --> 00:04:57,200 Speaker 1: call I think is right. End quote. I mean it 92 00:04:57,279 --> 00:05:00,640 Speaker 1: was a lot of show nothing to tell, not think nothing. 93 00:05:00,839 --> 00:05:06,960 Speaker 1: Bombshells in in the bar testimony. Yeah, yeahs, as typically 94 00:05:07,000 --> 00:05:11,680 Speaker 1: goes with these carry nowadays. Kevin, you know, the the 95 00:05:11,760 --> 00:05:14,160 Speaker 1: members on on one side sort of trying to get 96 00:05:14,160 --> 00:05:17,799 Speaker 1: their point across rather than you know, ask probing questions 97 00:05:17,839 --> 00:05:20,080 Speaker 1: of the witness. And we saw that a lot today 98 00:05:20,120 --> 00:05:23,280 Speaker 1: with you know, members on the the Democratic side of 99 00:05:23,279 --> 00:05:26,680 Speaker 1: of the aisle trying to cut the Attorney General off 100 00:05:26,720 --> 00:05:29,359 Speaker 1: and not allowing you to finish his answers. And you know, 101 00:05:29,400 --> 00:05:32,240 Speaker 1: of course there's a huge demand and huge anger at 102 00:05:32,360 --> 00:05:35,039 Speaker 1: at William bar among Democrats with how he's leved the 103 00:05:35,080 --> 00:05:38,719 Speaker 1: Jopic Department. But that didn't turn into uh, really a 104 00:05:38,760 --> 00:05:44,080 Speaker 1: lot of relatory information today there in Congress, and that's 105 00:05:44,120 --> 00:05:45,880 Speaker 1: the talk of the town. But in terms of the 106 00:05:45,920 --> 00:05:48,279 Speaker 1: next couple of weeks and the nuts and bolts of 107 00:05:48,279 --> 00:05:50,960 Speaker 1: what's going to be moving the markets and actually impacting 108 00:05:50,960 --> 00:05:54,279 Speaker 1: millions of Americans around the country. And we'll dive into 109 00:05:54,320 --> 00:05:57,120 Speaker 1: this with our panel coming up. But Senate Majority Leader 110 00:05:57,120 --> 00:06:01,039 Speaker 1: Mitch McConnell on Capitol Hill talking to a divided Republican 111 00:06:01,200 --> 00:06:05,360 Speaker 1: caucus about the high stakes stimulus talks that they are 112 00:06:05,400 --> 00:06:09,200 Speaker 1: now engulfed in. And so I'm struck by this. How 113 00:06:09,320 --> 00:06:13,600 Speaker 1: is President Trump weighing in on this divided Republican caucus. 114 00:06:13,640 --> 00:06:16,160 Speaker 1: You've got a bunch of them saying, hey, we gotta 115 00:06:16,200 --> 00:06:18,920 Speaker 1: get this through. It's a trillion dollars. Millions of Americans 116 00:06:18,960 --> 00:06:21,520 Speaker 1: are hurting. We've got to provide some economic relief. Then 117 00:06:21,560 --> 00:06:24,600 Speaker 1: you've got some of the others like Kentucky Senator Ran 118 00:06:24,680 --> 00:06:27,480 Speaker 1: Paul as well as Ted crew saying this is too 119 00:06:27,600 --> 00:06:30,640 Speaker 1: much cash, this is too much money. We can't afford this. 120 00:06:31,080 --> 00:06:33,240 Speaker 1: And so how is President Trump playing in this to 121 00:06:33,320 --> 00:06:36,039 Speaker 1: debate or is Leader McConnell saying as stay out of this, 122 00:06:36,279 --> 00:06:39,960 Speaker 1: stay out of this, President Trump, what is it? Well, 123 00:06:40,000 --> 00:06:42,039 Speaker 1: we'll see what the President has to say this press 124 00:06:42,040 --> 00:06:44,599 Speaker 1: conference coming up here and in just about twenty minutes. 125 00:06:44,640 --> 00:06:48,560 Speaker 1: But there has been some frustration among congressional Republicans that 126 00:06:48,920 --> 00:06:52,680 Speaker 1: the White Houses attempt to inject themselves into these negotiations 127 00:06:52,680 --> 00:06:55,960 Speaker 1: have only made them worse. You had a controversy over 128 00:06:56,000 --> 00:06:58,160 Speaker 1: the past few days about the White Houses demand that 129 00:06:58,200 --> 00:07:03,080 Speaker 1: they include over almost three billion dollars for uh new 130 00:07:03,160 --> 00:07:06,359 Speaker 1: FBI headquarters near the president's Washington, d C. Hotel in 131 00:07:06,400 --> 00:07:09,440 Speaker 1: this bill. And there was also frustration earlier last week 132 00:07:09,760 --> 00:07:13,360 Speaker 1: when the President had demanded a payroll tax being included 133 00:07:13,360 --> 00:07:16,040 Speaker 1: in this proposal, an idea that was not popular with 134 00:07:16,120 --> 00:07:20,040 Speaker 1: center Republicans um and that would delay the process and 135 00:07:20,040 --> 00:07:24,120 Speaker 1: it ultimately wasn't included. So the message to UH from 136 00:07:24,160 --> 00:07:27,000 Speaker 1: Capitol Hill to the White Houses is to your point, Kevin, 137 00:07:27,120 --> 00:07:30,000 Speaker 1: basically to you know, keep your distance and and let 138 00:07:30,080 --> 00:07:33,400 Speaker 1: us sort of work through our our difficulties. But you know, 139 00:07:33,480 --> 00:07:35,720 Speaker 1: they may have to rely on the White House, particularly 140 00:07:36,000 --> 00:07:38,960 Speaker 1: the Treasury Secretary Stephen Manuition, to ultimately broke or a 141 00:07:39,000 --> 00:07:41,160 Speaker 1: deal with the Democrats. Well, then I was talking to 142 00:07:41,240 --> 00:07:43,440 Speaker 1: some sources throughout the last couple of days who are 143 00:07:44,280 --> 00:07:50,000 Speaker 1: saying they don't necessarily want Treasury Secretary Manution meeting with 144 00:07:50,040 --> 00:07:54,400 Speaker 1: Speaker Pelosi. Get this unless some of the other Republican 145 00:07:54,440 --> 00:07:58,520 Speaker 1: members are president, because they don't want Manution in Pelosi, 146 00:07:58,720 --> 00:08:04,080 Speaker 1: you know, negotiating in private. Which is interesting that in 147 00:08:04,120 --> 00:08:06,600 Speaker 1: and of itself is interesting. Here's the Treasury Secretary and 148 00:08:06,680 --> 00:08:08,520 Speaker 1: the Speaker of the House and they're not able to 149 00:08:08,560 --> 00:08:10,840 Speaker 1: meet in private. But I mean, I guess from the 150 00:08:10,880 --> 00:08:14,400 Speaker 1: Republican Caucus is perspective. You know, they're in tough re 151 00:08:14,560 --> 00:08:17,760 Speaker 1: election fights and this is a lot of cash we're 152 00:08:17,760 --> 00:08:19,840 Speaker 1: talking about, and more importantly, it's a lot of families 153 00:08:19,840 --> 00:08:23,840 Speaker 1: were talking about. Yeah, Kevin, you know, the Republicans have 154 00:08:23,880 --> 00:08:26,720 Speaker 1: been a bit frustrated with Secretary Manuction that you know, 155 00:08:26,760 --> 00:08:29,559 Speaker 1: he's not a diet of the world Conservatives um and 156 00:08:29,560 --> 00:08:31,560 Speaker 1: and they've been frustrated with some of the deals he's 157 00:08:31,560 --> 00:08:34,000 Speaker 1: cut with the Speaker in the past, UM, including the 158 00:08:34,080 --> 00:08:37,160 Speaker 1: last round of stimulus, which included that six hundred dollar 159 00:08:37,240 --> 00:08:40,440 Speaker 1: plus up in unemployment benefits for people out of work 160 00:08:40,480 --> 00:08:42,800 Speaker 1: through that due to the pandemic. So um. You know, 161 00:08:42,880 --> 00:08:45,560 Speaker 1: some of them essentially want a babysitter forprenution when he 162 00:08:45,600 --> 00:08:49,719 Speaker 1: meets with with Democrats. You know, Mark Meadows, the wet 163 00:08:49,760 --> 00:08:52,960 Speaker 1: Off Street, the staff and former House Freedom Caucus chairman, 164 00:08:53,240 --> 00:08:55,560 Speaker 1: has been in some of those meetings. But I have 165 00:08:55,600 --> 00:08:57,920 Speaker 1: to say, you know, Minucian and Pelosi have built up 166 00:08:57,920 --> 00:09:01,000 Speaker 1: a report and you need that to get these deals done, 167 00:09:01,080 --> 00:09:04,600 Speaker 1: especially when Capitol Hills divided between Republicans and Democrats. So 168 00:09:04,679 --> 00:09:08,800 Speaker 1: as much as Republicans can be frustrated with Secretary Manuchtion, 169 00:09:09,160 --> 00:09:12,560 Speaker 1: you know there needs to be somebody there in Washington 170 00:09:12,640 --> 00:09:15,360 Speaker 1: to to ultimately get this deal across the finish line. 171 00:09:15,480 --> 00:09:17,760 Speaker 1: You might be it. They're the only people that are 172 00:09:17,800 --> 00:09:20,040 Speaker 1: that are that are talking. All right, tell me one 173 00:09:20,040 --> 00:09:22,720 Speaker 1: thing I don't know. I'm your reporter's note. Jordan Famon 174 00:09:22,800 --> 00:09:25,559 Speaker 1: knows everything is Bloomberg White House reporter. Give me something 175 00:09:25,600 --> 00:09:27,720 Speaker 1: in the weeds or something that that you're you don't 176 00:09:27,720 --> 00:09:31,360 Speaker 1: think people are talking about enough before I let you go, Well, 177 00:09:31,400 --> 00:09:33,200 Speaker 1: what is you that Michael up with this press conference? 178 00:09:33,240 --> 00:09:37,520 Speaker 1: Kevin is professional sports? You know, I'm just gonna take 179 00:09:37,559 --> 00:09:40,440 Speaker 1: you right there. I'm gonna interrupt. I'm gonna interrupt because 180 00:09:40,480 --> 00:09:44,960 Speaker 1: the Phillies, according to ESPN, no fills have tested positive 181 00:09:45,000 --> 00:09:48,400 Speaker 1: for coronavirus after the Marlin series. Hey, leave it to 182 00:09:48,480 --> 00:09:50,600 Speaker 1: Philly to say to say above the fright. That's all 183 00:09:50,600 --> 00:09:52,280 Speaker 1: I'm gonna say. But go ahead, what's he gonna say? 184 00:09:52,280 --> 00:09:55,320 Speaker 1: What's he gonna say on sports? Welsten to the debate, 185 00:09:55,400 --> 00:09:57,160 Speaker 1: you know, because you had anty fact to come out 186 00:09:57,200 --> 00:09:59,640 Speaker 1: and say that, you know, the MLB not might not 187 00:09:59,679 --> 00:10:01,439 Speaker 1: be able have finished the season because they're not in 188 00:10:01,480 --> 00:10:04,240 Speaker 1: the bubble. Uh. And he's praising the NBA for being 189 00:10:04,320 --> 00:10:06,400 Speaker 1: in the bubble and saying that the NFL might not 190 00:10:06,400 --> 00:10:08,240 Speaker 1: be able to get started up. And you know, we 191 00:10:08,280 --> 00:10:10,920 Speaker 1: all know how much the President loves the way way 192 00:10:11,000 --> 00:10:13,680 Speaker 1: in on professional sports. So in the fact that Dr 193 00:10:13,720 --> 00:10:16,640 Speaker 1: Fauci's out there, you know, Joe Biden just commented on 194 00:10:16,679 --> 00:10:18,960 Speaker 1: this issue at a press conference just a few minutes ago. 195 00:10:19,400 --> 00:10:22,520 Speaker 1: The President might wanna weigh in here. It really is 196 00:10:22,520 --> 00:10:26,400 Speaker 1: going to be remarkable, all right. Uh, and and and 197 00:10:26,440 --> 00:10:28,800 Speaker 1: it'll be interesting to see he's gonna take questions right there, 198 00:10:28,800 --> 00:10:31,880 Speaker 1: calling this the press conference, so he'll he'll definitely take questions. Correct, 199 00:10:33,080 --> 00:10:36,120 Speaker 1: that's what we're expecting. Yes, yeah, alright, alright, Jordan, Well, 200 00:10:36,120 --> 00:10:38,480 Speaker 1: I appreciate you breaking down all of that for us. 201 00:10:38,480 --> 00:10:41,520 Speaker 1: That's Jordan Fabian, white House correspondent here at Bloomberg on 202 00:10:41,559 --> 00:10:43,640 Speaker 1: the White House team. Of course, I actually worked with 203 00:10:43,720 --> 00:10:46,880 Speaker 1: Jordan back when we were both at the Hill together, uh, 204 00:10:46,960 --> 00:10:50,240 Speaker 1: the Hill newspaper. And he's phil fan, he's Philadelphia sports fan, 205 00:10:50,280 --> 00:10:52,199 Speaker 1: so he's he's he's a good person, you know. I mean, 206 00:10:52,240 --> 00:10:54,640 Speaker 1: he's a good he knows, he knows what he's talking about. 207 00:10:54,679 --> 00:10:57,000 Speaker 1: You can trust him. You can trust those Philadelphia sports 208 00:10:57,000 --> 00:11:00,600 Speaker 1: fan Remember. Download the Bloomberg Sound on podcasts at Apple iTunes, 209 00:11:00,640 --> 00:11:04,960 Speaker 1: at Bloomberg dot com, or by downloading the Bloomberg Business App. 210 00:11:05,480 --> 00:11:08,480 Speaker 1: You can also find us on Radio dot com, I 211 00:11:08,640 --> 00:11:13,200 Speaker 1: Heart Radio, and Spotify. Coming up, we're gonna check in 212 00:11:13,240 --> 00:11:17,280 Speaker 1: with Congressman Bruce Westerman as well, a Republican from Arkansas, 213 00:11:17,320 --> 00:11:20,600 Speaker 1: and tomorrow get this exclusive. I'm going to give you 214 00:11:20,640 --> 00:11:24,840 Speaker 1: an interview with Mercedes schlap and the head policy director 215 00:11:25,559 --> 00:11:27,640 Speaker 1: of the Biden campaign. You don't want to miss that. 216 00:11:27,960 --> 00:11:30,360 Speaker 1: So we're gonna dive really into the weeds Mercedes on 217 00:11:30,360 --> 00:11:33,640 Speaker 1: the President's energy speech tomorrow, and equally as into the 218 00:11:33,679 --> 00:11:36,880 Speaker 1: weeds on the Biden side of things, on the Biden 219 00:11:36,960 --> 00:11:39,840 Speaker 1: rollout for the Economic Plan. I'm Kevin Cirelli, Chief Washington 220 00:11:39,840 --> 00:11:42,559 Speaker 1: correspondent FRO Bloomberg TV and from Bloomberg Radio, and you're 221 00:11:42,559 --> 00:11:50,040 Speaker 1: listening to Bloomberg. This is Bloomberg Sound On with Kevin 222 00:11:50,080 --> 00:11:54,520 Speaker 1: Surreley on Bloomberg and one oh five point seven m 223 00:11:54,640 --> 00:11:59,280 Speaker 1: HD two. My name's Kevin Cirelli, and I am the 224 00:11:59,320 --> 00:12:03,400 Speaker 1: chief Washing To correspondent for Bloomberg Television and from Bloomberg Radio. 225 00:12:03,679 --> 00:12:06,480 Speaker 1: We're laughing in the video chat, folks. Uh. And by 226 00:12:06,520 --> 00:12:09,640 Speaker 1: the way, Charlie Vollmer, who runs our boards, you get 227 00:12:09,720 --> 00:12:11,720 Speaker 1: to my ear right at the start of the show, 228 00:12:11,720 --> 00:12:13,600 Speaker 1: he goes, gav you want to hear something? I go 229 00:12:13,679 --> 00:12:17,160 Speaker 1: watch are He goes, I had been at Bloomberg sixteen years. 230 00:12:17,160 --> 00:12:23,679 Speaker 1: You're sweet sixteen. Charlie Vollmer, congratulations, congratulations, buddy, sweet sixteen 231 00:12:23,760 --> 00:12:26,760 Speaker 1: sixteen years. I was back in high school, back when 232 00:12:26,760 --> 00:12:30,840 Speaker 1: you were just a kid joining, uh, joining the Bloomberg 233 00:12:30,920 --> 00:12:33,400 Speaker 1: radio airwaves. Now you're running the board, and I can 234 00:12:33,760 --> 00:12:36,120 Speaker 1: I can uh, I can see you roll in your 235 00:12:36,120 --> 00:12:38,600 Speaker 1: eyes right now. Yep. In the group chat, you're probably 236 00:12:38,600 --> 00:12:41,160 Speaker 1: mortified them talking about you want it. Don't worry, buddy. 237 00:12:41,200 --> 00:12:44,040 Speaker 1: All right, let's reset here just to catch everybody up 238 00:12:44,080 --> 00:12:47,640 Speaker 1: to speed in a couple of minutes. About fifteen minutes, 239 00:12:47,720 --> 00:12:50,640 Speaker 1: right at the top of the hour, we are anticipating 240 00:12:51,320 --> 00:12:54,680 Speaker 1: that President Trump's gonna deliver a press conference. I'm gonna 241 00:12:54,679 --> 00:12:57,079 Speaker 1: take you right there when it happens so you can 242 00:12:57,120 --> 00:12:59,160 Speaker 1: hear it, especially if he's gonna be asking questions. We 243 00:12:59,320 --> 00:13:02,360 Speaker 1: just heard from my Ali Jordan Fabian earlier Bloomberg White 244 00:13:02,400 --> 00:13:05,400 Speaker 1: House reporter that he might have to weigh into these 245 00:13:05,400 --> 00:13:07,920 Speaker 1: talks up on Capitol Hill. You know, you've got the 246 00:13:07,960 --> 00:13:12,160 Speaker 1: Republicans so clearly divided. You got Senator Ram Paul saying 247 00:13:12,240 --> 00:13:14,640 Speaker 1: absolutely not, I'm not getting involved in this. That's spending 248 00:13:14,679 --> 00:13:17,640 Speaker 1: too much money, and Democrats are saying, no, you're not 249 00:13:17,679 --> 00:13:20,640 Speaker 1: spending enough money. Joining us on the line, Adam Goodman. 250 00:13:20,679 --> 00:13:23,640 Speaker 1: He's a Republican media strategist, columnists and partner at Ballot 251 00:13:23,640 --> 00:13:26,079 Speaker 1: Partners in Washington, d C. But he's down there in Florida. 252 00:13:26,360 --> 00:13:29,040 Speaker 1: You can't have one Floridian without another. So I checked 253 00:13:29,040 --> 00:13:32,199 Speaker 1: in with former Florida Congressman Patrick Murphy, who was also 254 00:13:32,320 --> 00:13:35,360 Speaker 1: on the line. Adam, it's like there's a family feud 255 00:13:35,360 --> 00:13:38,680 Speaker 1: brewing in the Republican caucus. How are they gonna get 256 00:13:38,720 --> 00:13:42,360 Speaker 1: a deal with so many Americans out of work, strapped 257 00:13:42,360 --> 00:13:46,040 Speaker 1: for cash, and they have no economic certainty whatsoever. They 258 00:13:46,120 --> 00:13:51,280 Speaker 1: got economic anxiety. There is no other option but to 259 00:13:51,480 --> 00:13:55,199 Speaker 1: pass a package. Question is what to pass now? You know, 260 00:13:55,320 --> 00:14:00,720 Speaker 1: Republicans generally are very nervous about adding to the national debt, 261 00:14:00,720 --> 00:14:04,280 Speaker 1: and obviously this is an extreme circumstance that requires that 262 00:14:04,640 --> 00:14:06,920 Speaker 1: we have to do things we're not comfortable with, not 263 00:14:07,080 --> 00:14:10,640 Speaker 1: being one of them. With that said, uh, they know 264 00:14:10,760 --> 00:14:14,200 Speaker 1: that when this pandemic passes, there's going to be a 265 00:14:14,240 --> 00:14:17,520 Speaker 1: reckoning in the financial reckoning. Uh, and they're concerned about 266 00:14:17,520 --> 00:14:22,080 Speaker 1: that as well. So everybody really wants to help. Everybody 267 00:14:22,120 --> 00:14:26,760 Speaker 1: wants to help those that need another handoff before we 268 00:14:26,840 --> 00:14:30,720 Speaker 1: hopefully get COVID nineteen in our rear view mirror. But 269 00:14:30,880 --> 00:14:33,560 Speaker 1: how we get there is always the sticky wicket and 270 00:14:33,600 --> 00:14:36,800 Speaker 1: the President I can guarantee you UH is going to 271 00:14:36,960 --> 00:14:40,440 Speaker 1: drive and drive hard until a deal is done, and 272 00:14:40,480 --> 00:14:42,960 Speaker 1: it won't I don't think it's gonna be will not 273 00:14:43,040 --> 00:14:45,320 Speaker 1: take him as long as some are predicting to get 274 00:14:45,360 --> 00:14:50,000 Speaker 1: there because politics also is afoot, and this is one 275 00:14:50,040 --> 00:14:52,600 Speaker 1: where everyone's watching. But you've got this new piece out 276 00:14:52,640 --> 00:14:56,080 Speaker 1: on Newsmax that I find interesting, which is you write, quote, 277 00:14:56,360 --> 00:14:58,600 Speaker 1: the government, which has been the financial anchor in the 278 00:14:58,680 --> 00:15:00,880 Speaker 1: storm for more than a hundred of fifty nine million 279 00:15:00,920 --> 00:15:03,960 Speaker 1: Americans and tens of millions of small businesses, has an 280 00:15:04,000 --> 00:15:07,480 Speaker 1: opportunity to literally give Americans a boost where they live. 281 00:15:07,840 --> 00:15:12,120 Speaker 1: A proposal for a thirty percent home owners tax credit 282 00:15:12,400 --> 00:15:15,720 Speaker 1: backed by mega buildings supply giants from John's Mansville to 283 00:15:15,800 --> 00:15:18,640 Speaker 1: Owens Corning, has been gaining traction in the past few 284 00:15:18,640 --> 00:15:21,800 Speaker 1: weeks for reasons that are as essential as they are obvious. 285 00:15:22,080 --> 00:15:25,000 Speaker 1: Why right now should we have the homeowners tax credit? 286 00:15:25,920 --> 00:15:28,760 Speaker 1: Why let me ask that fuel question, Kevin. Why does 287 00:15:28,800 --> 00:15:31,800 Speaker 1: it take so long for common sense to kick in? 288 00:15:31,880 --> 00:15:36,120 Speaker 1: Sometimes with people in elected positions I mean, I've been 289 00:15:36,160 --> 00:15:39,520 Speaker 1: a big advocate I'm sure Patrick too, uh for years 290 00:15:39,640 --> 00:15:43,440 Speaker 1: of a major league infrastructure program to rebuild America, and 291 00:15:43,800 --> 00:15:47,120 Speaker 1: this one if you want to sign just a sign 292 00:15:47,320 --> 00:15:50,280 Speaker 1: that we're starting to maybe just maybe crest over the 293 00:15:50,360 --> 00:15:53,160 Speaker 1: hill and see some light at the end of that tunnel. 294 00:15:53,520 --> 00:15:55,440 Speaker 1: This is the place you want to start, where people 295 00:15:55,560 --> 00:15:58,120 Speaker 1: live and at thirty percent tax credit, which by the way, 296 00:15:58,160 --> 00:16:00,960 Speaker 1: we'll have a financial threshold cut off, so it's not 297 00:16:01,000 --> 00:16:03,080 Speaker 1: for the rich. It will really truly be for the 298 00:16:03,080 --> 00:16:05,640 Speaker 1: middle class. With up to ten million jobs on the line, 299 00:16:06,080 --> 00:16:09,400 Speaker 1: this is a no brainer and should have been i 300 00:16:09,440 --> 00:16:12,320 Speaker 1: think in the first Similars package, uh, and hopefully it's 301 00:16:12,360 --> 00:16:15,600 Speaker 1: going to be uh be in this next one to come. 302 00:16:16,080 --> 00:16:18,160 Speaker 1: Patrick Murphy, let me bring you into this because I 303 00:16:18,200 --> 00:16:20,000 Speaker 1: know that you know a thing or two about the 304 00:16:20,000 --> 00:16:23,760 Speaker 1: construction business and and and housing in particular. I mean, 305 00:16:23,800 --> 00:16:27,680 Speaker 1: these types of tacks credits often get uh criticized by 306 00:16:27,680 --> 00:16:30,000 Speaker 1: their critics as just another hand out for the wealthy 307 00:16:30,080 --> 00:16:31,880 Speaker 1: or whatnot. But right now, I mean, we need all 308 00:16:31,920 --> 00:16:34,520 Speaker 1: hands on deck. What how do you think what are 309 00:16:34,560 --> 00:16:36,840 Speaker 1: some of the incentives that should be provided right now 310 00:16:36,920 --> 00:16:39,800 Speaker 1: for the middle class and included in these next round 311 00:16:39,840 --> 00:16:43,640 Speaker 1: of economic stimulus talks, beyond the top line view of 312 00:16:43,640 --> 00:16:46,240 Speaker 1: of of the big numbers, what are some of the 313 00:16:46,280 --> 00:16:48,560 Speaker 1: in the weeds proposals that that that you think should 314 00:16:48,560 --> 00:16:52,080 Speaker 1: be talked about. Yeah, well, I think Kevin, I think 315 00:16:52,080 --> 00:16:54,440 Speaker 1: people are gonna think that Adam and I probably colluded 316 00:16:54,480 --> 00:16:58,840 Speaker 1: on this or something republic builder to come together to 317 00:16:58,920 --> 00:17:02,200 Speaker 1: support these texture it. But uh, maybe I should get 318 00:17:02,960 --> 00:17:07,719 Speaker 1: he was up on Capitol Hill. Go ahead, Uh, big picture. 319 00:17:07,840 --> 00:17:10,040 Speaker 1: I do agree with that. Adam said that I'm sure 320 00:17:10,080 --> 00:17:14,040 Speaker 1: a deal will be coming soon. Uh, it is election season. Uh, 321 00:17:14,080 --> 00:17:16,800 Speaker 1: there's a lot of politics being played here. It is 322 00:17:16,800 --> 00:17:19,360 Speaker 1: a little surprising that you know that the first couple 323 00:17:19,400 --> 00:17:21,760 Speaker 1: of packages were like, you know, drunk sailors, just all 324 00:17:21,760 --> 00:17:24,400 Speaker 1: sorts of money and not a lot of urbsit, etcetera. 325 00:17:24,480 --> 00:17:27,080 Speaker 1: And now you know, people are sort of sobering up 326 00:17:27,119 --> 00:17:29,520 Speaker 1: almost in some ways, and and you know, getting picky 327 00:17:29,520 --> 00:17:33,640 Speaker 1: about how and what we're spending. Um, I do think 328 00:17:33,680 --> 00:17:36,800 Speaker 1: we have to be very targeting on where the spending 329 00:17:36,880 --> 00:17:39,240 Speaker 1: is going and who is helping and really who was impacted, 330 00:17:39,320 --> 00:17:41,760 Speaker 1: right because at the end of the day, as Adam said, 331 00:17:42,720 --> 00:17:45,280 Speaker 1: the top one percent are still doing fine. The top 332 00:17:45,320 --> 00:17:47,639 Speaker 1: five percent are still probably doing fine, and you know, 333 00:17:47,680 --> 00:17:50,800 Speaker 1: most vast majority of circumstances who were really trying to help, 334 00:17:50,840 --> 00:17:53,480 Speaker 1: who was really displaced by this and whose job isn't 335 00:17:53,480 --> 00:17:57,520 Speaker 1: coming back. I think a massive infrastructure bill we are 336 00:17:57,600 --> 00:18:00,760 Speaker 1: we are pasted due for that. Uh. Um, you know 337 00:18:01,400 --> 00:18:04,080 Speaker 1: we have a sailing infrastructure system. I don't forgot the 338 00:18:04,119 --> 00:18:06,880 Speaker 1: last score we got, but it's a see your d um. 339 00:18:06,880 --> 00:18:09,919 Speaker 1: That's embarrassing for our country. Uh. This is certainly the 340 00:18:09,960 --> 00:18:12,639 Speaker 1: time to pass that and get very serious and and 341 00:18:12,680 --> 00:18:15,159 Speaker 1: take it to the next level with um, not just 342 00:18:15,200 --> 00:18:19,320 Speaker 1: your roads and bridges, but your solar infrastructure, your broadband internet, 343 00:18:19,359 --> 00:18:21,439 Speaker 1: your your high speed rail. You know, something that we 344 00:18:21,480 --> 00:18:24,720 Speaker 1: can be proud of, not just fixing the potholes. UM. 345 00:18:24,760 --> 00:18:28,639 Speaker 1: I think this homeowner's tax credit is a is a 346 00:18:28,800 --> 00:18:34,000 Speaker 1: piece of that conversation. I do worry to some excident 347 00:18:34,119 --> 00:18:36,320 Speaker 1: of of who it's it's really helping. There is still 348 00:18:36,359 --> 00:18:39,879 Speaker 1: a significant gap of thirty points or so between uh, 349 00:18:40,040 --> 00:18:44,080 Speaker 1: non Hispanic white Americans and black Hispanic and Asians who 350 00:18:44,119 --> 00:18:46,760 Speaker 1: own or don't own a home. So uh, you know, 351 00:18:46,840 --> 00:18:49,400 Speaker 1: I do think that we have to be very cognizant 352 00:18:49,400 --> 00:18:53,199 Speaker 1: of who we are helping and who is displaced in 353 00:18:53,280 --> 00:18:55,879 Speaker 1: this recession that we're in right now. You know, I 354 00:18:56,520 --> 00:18:59,679 Speaker 1: think the infrastructure angle is is really one that is 355 00:19:00,040 --> 00:19:03,040 Speaker 1: so incredibly important to talk about. I mean, you've got 356 00:19:03,080 --> 00:19:05,159 Speaker 1: President Trump saying he wants to put something out in 357 00:19:05,200 --> 00:19:07,680 Speaker 1: the fall. I can tell you that just in conversations 358 00:19:07,680 --> 00:19:10,000 Speaker 1: I had earlier today with members of the Biden campaign, 359 00:19:10,200 --> 00:19:13,600 Speaker 1: they're pushing for that as well, for to be a 360 00:19:13,680 --> 00:19:17,520 Speaker 1: centerpiece of cornerstone of his economic proposal. And tomorrow again 361 00:19:17,560 --> 00:19:19,280 Speaker 1: just to tease this and to plug this, I'm gonna 362 00:19:19,320 --> 00:19:23,399 Speaker 1: be interviewing the head of Joe Biden's policy director and 363 00:19:23,480 --> 00:19:25,960 Speaker 1: you can listen to that tomorrow. But let me let 364 00:19:25,960 --> 00:19:29,520 Speaker 1: me ask a follow up to Adam here Um, which 365 00:19:29,640 --> 00:19:33,040 Speaker 1: is this this this need of investment in cities, because 366 00:19:33,119 --> 00:19:35,000 Speaker 1: you know, I'm bringing on the Bloomberg terminal right now. 367 00:19:35,040 --> 00:19:38,159 Speaker 1: After setup, Republicans balked at extending new federal aid to 368 00:19:38,200 --> 00:19:42,080 Speaker 1: help cover states and cities swelling budget shortfalls. Governors and 369 00:19:42,119 --> 00:19:45,560 Speaker 1: mayors warned that they are facing drastic spending cuts that 370 00:19:45,600 --> 00:19:48,800 Speaker 1: will put the nation's economic recovery at risk. I get it. 371 00:19:49,440 --> 00:19:52,560 Speaker 1: The cities traditionally lean left in terms of the politics 372 00:19:52,640 --> 00:19:55,360 Speaker 1: but I mean, Adam, you know, cities are a part 373 00:19:55,359 --> 00:19:59,359 Speaker 1: of Republican states, and so I'm curious, I mean, do 374 00:19:59,440 --> 00:20:02,800 Speaker 1: we want to of our cities completely bankrupted? But at 375 00:20:02,800 --> 00:20:05,200 Speaker 1: the same time, Republicans tell me, hey, it's not our 376 00:20:05,200 --> 00:20:09,640 Speaker 1: fault that they didn't manage their books. Well, wow, that's 377 00:20:09,640 --> 00:20:11,600 Speaker 1: a hell of a question for a Republican these days. 378 00:20:11,600 --> 00:20:13,560 Speaker 1: And you've got sixty seconds because then I gotta go 379 00:20:13,600 --> 00:20:15,960 Speaker 1: to brick. Go ahead, yeah, yeah. Look, the short answer 380 00:20:16,040 --> 00:20:19,760 Speaker 1: is this, America's cities are vital to America's future. That's 381 00:20:19,800 --> 00:20:21,960 Speaker 1: the bottom line. With rankles a lot of people and 382 00:20:22,000 --> 00:20:26,080 Speaker 1: not such Republicans are things we see in terms of mismanagement, 383 00:20:26,200 --> 00:20:30,040 Speaker 1: and of course, more recently, uh, the the less and 384 00:20:30,080 --> 00:20:33,840 Speaker 1: peaceful protests that are laying ways to parts of cities 385 00:20:33,880 --> 00:20:37,760 Speaker 1: across America that bothers a lot of people, that creates 386 00:20:37,760 --> 00:20:40,760 Speaker 1: a reticence in terms of investment that shouldn't be there. 387 00:20:40,840 --> 00:20:44,560 Speaker 1: We can't let New York fail, we can't let Chicago fail, 388 00:20:44,600 --> 00:20:47,720 Speaker 1: we can't let l apel. However, we can demand that 389 00:20:47,800 --> 00:20:51,640 Speaker 1: they do things, uh, with greater managerial finesse than they've 390 00:20:51,680 --> 00:20:55,800 Speaker 1: done in recent years. Exactly a string strings attached to 391 00:20:55,840 --> 00:20:58,240 Speaker 1: birs all right, Patrick Adam, stick around for me. I'm 392 00:20:58,280 --> 00:21:01,159 Speaker 1: Kevin Cirelli, Chief Washington corresponded with Bloomberg Television and from 393 00:21:01,160 --> 00:21:03,800 Speaker 1: Bloomberg Radio. Coming up, We're gonna check in mccogressro and 394 00:21:04,080 --> 00:21:08,159 Speaker 1: Bruce Westernman panel stays President Trump awaiting his remarks, and 395 00:21:08,160 --> 00:21:16,600 Speaker 1: you're listening to Bloomberg. Why from our Nation's how do 396 00:21:16,720 --> 00:21:20,960 Speaker 1: we reopen this economy? The latest on how this pandemic 397 00:21:21,040 --> 00:21:23,840 Speaker 1: is impacting farmers? What does this do for the United 398 00:21:23,880 --> 00:21:29,439 Speaker 1: States relationship with China? Bloomberg Sound on the insiders, the influencers, 399 00:21:29,480 --> 00:21:33,040 Speaker 1: the insides. We're responding to this crisis, and manufacturers are 400 00:21:33,080 --> 00:21:36,480 Speaker 1: stepping up like never before. We're looking at seventy kenneddates 401 00:21:36,480 --> 00:21:39,520 Speaker 1: for different ductees. How do we make sure a pandemic 402 00:21:39,600 --> 00:21:43,359 Speaker 1: of this scale never happens again? This is Bloomberg Sound 403 00:21:43,400 --> 00:21:47,720 Speaker 1: On with Kevin Surrelate on Bloomberg one and one oh 404 00:21:47,800 --> 00:21:50,760 Speaker 1: five point seven f m h D two. The latest 405 00:21:50,840 --> 00:21:54,560 Speaker 1: on the back and forth negotiations on Capitol Hill. Will 406 00:21:54,600 --> 00:21:59,040 Speaker 1: Treasury Secretary Stephen Venusian and Speaker Pelosi get to a 407 00:21:59,320 --> 00:22:02,960 Speaker 1: deal this as Republicans in the Senate balking at the 408 00:22:03,000 --> 00:22:07,240 Speaker 1: price tag of Senate Majority Leader Mitch McConnell's trillion dollar deal. 409 00:22:07,720 --> 00:22:11,879 Speaker 1: They say too much, Democrats say not enough. And we 410 00:22:11,920 --> 00:22:15,080 Speaker 1: are waiting President Trump's fresh press conference set to begin 411 00:22:15,320 --> 00:22:18,000 Speaker 1: this hour. I'll take you live to the White House 412 00:22:18,000 --> 00:22:21,440 Speaker 1: where you can hear the President's remarks and questions about 413 00:22:21,480 --> 00:22:24,040 Speaker 1: that economic stimulus. And we're gonna check in with an 414 00:22:24,040 --> 00:22:28,520 Speaker 1: all star panel Adam Goodman, former Florida Congressman Patrick Murphy, 415 00:22:28,600 --> 00:22:34,840 Speaker 1: and Congressman Bruce Westerman, a Republican representing Arkansas's fourth congressional district. 416 00:22:34,960 --> 00:22:37,960 Speaker 1: We have a lot to get through this as cases 417 00:22:38,119 --> 00:22:43,360 Speaker 1: in California and Arizona are declining. My name is Kevin Cerelia. 418 00:22:43,400 --> 00:22:46,440 Speaker 1: I am the chief Washington correspondent for Bloomberg Television and 419 00:22:46,640 --> 00:22:49,560 Speaker 1: for Bloomberg Radio. Again, as I said, we are awaiting 420 00:22:49,560 --> 00:22:53,320 Speaker 1: President Trump's press conference to start. I'll bring you right there, 421 00:22:53,359 --> 00:22:55,560 Speaker 1: but first let's get to the debate up on Capitol Hill. 422 00:22:55,600 --> 00:22:58,880 Speaker 1: Congressman Bruce Westerman's on the line. He is a Republican 423 00:22:58,960 --> 00:23:03,000 Speaker 1: representing ark saws fourth congressional District. Hey, Congressman, I know 424 00:23:03,040 --> 00:23:04,840 Speaker 1: we got to talk policy, but I gotta ask you 425 00:23:04,880 --> 00:23:08,160 Speaker 1: this because you played college football for the Arkansas Razorbacks 426 00:23:08,160 --> 00:23:11,680 Speaker 1: football team. Are we going to have the NFL? Or? 427 00:23:11,720 --> 00:23:14,560 Speaker 1: I know college football's kind of done, but are we 428 00:23:14,560 --> 00:23:18,520 Speaker 1: going to have the NFL this season? Well, Kevin, good 429 00:23:18,520 --> 00:23:20,240 Speaker 1: to be with you, and that's that's a much more 430 00:23:20,280 --> 00:23:25,200 Speaker 1: fun subject to talk about some kind of pandemic relief package. 431 00:23:25,280 --> 00:23:28,240 Speaker 1: But I'm not giving up on college football just yet. 432 00:23:28,280 --> 00:23:31,080 Speaker 1: And unless there's been an announcement this afternoon that I'm 433 00:23:31,080 --> 00:23:36,720 Speaker 1: not aware of the the SEC's uh still planning to 434 00:23:36,720 --> 00:23:39,800 Speaker 1: play college football. So I don't, um, you know, NFL 435 00:23:39,840 --> 00:23:41,280 Speaker 1: and the rest of it. It doesn't make us a 436 00:23:41,480 --> 00:23:43,960 Speaker 1: lot of difference, not just just kidding, it really does. 437 00:23:44,400 --> 00:23:48,320 Speaker 1: I hope they played football. Um, I hope high schools 438 00:23:48,320 --> 00:23:50,359 Speaker 1: are able to play football. I've got a son who's 439 00:23:50,400 --> 00:23:54,000 Speaker 1: a high school senior to his last year, and I 440 00:23:54,040 --> 00:23:56,200 Speaker 1: know way he's heavy on his mind every day on 441 00:23:56,440 --> 00:23:58,240 Speaker 1: whether or not he's going to get to play football 442 00:23:58,320 --> 00:24:02,040 Speaker 1: is uh last in high school? And I think that 443 00:24:02,119 --> 00:24:04,919 Speaker 1: leads into a bigger question about how we've got to 444 00:24:04,960 --> 00:24:08,199 Speaker 1: get schools open back up. We've got to do it 445 00:24:08,280 --> 00:24:12,040 Speaker 1: smart and safely, and uh, you know, there's a whole 446 00:24:12,080 --> 00:24:14,840 Speaker 1: lot of the pandemics bad but there's a whole lot 447 00:24:14,840 --> 00:24:16,639 Speaker 1: of other bad things that go along with some of 448 00:24:16,640 --> 00:24:19,440 Speaker 1: these restrictions that we're putting out there. Well, let's talk 449 00:24:19,480 --> 00:24:22,639 Speaker 1: about about the next round of stimulus, because Republicans in 450 00:24:22,680 --> 00:24:26,879 Speaker 1: the across the chamber so to speak, in Congress in 451 00:24:26,920 --> 00:24:30,840 Speaker 1: the Senate are really divided about Leader McConnell's plan, And 452 00:24:31,359 --> 00:24:34,919 Speaker 1: as you know, Treasury Secretary Minution has been having conversations 453 00:24:34,960 --> 00:24:39,160 Speaker 1: with Speaker Pelosi trying to build some type of consensus 454 00:24:39,200 --> 00:24:42,919 Speaker 1: as it relates to this. What are your concerns. Do 455 00:24:43,000 --> 00:24:45,320 Speaker 1: you think that the government is spending too much money, 456 00:24:45,400 --> 00:24:48,000 Speaker 1: not enough? And and what do you say to folks 457 00:24:48,000 --> 00:24:53,480 Speaker 1: who needed the economic relief yesterday? Of all political stripes, Yeah, 458 00:24:53,520 --> 00:24:57,440 Speaker 1: I mean that's a multifaceted question there, and I could 459 00:24:58,640 --> 00:25:00,719 Speaker 1: who could provide a lot of different answers on that. 460 00:25:01,400 --> 00:25:04,680 Speaker 1: Number one, we are spending too much money, but we're 461 00:25:04,680 --> 00:25:07,720 Speaker 1: in unprecedented times right now as well, and I think 462 00:25:07,760 --> 00:25:12,679 Speaker 1: there's been problems with the um the way some of 463 00:25:12,680 --> 00:25:15,399 Speaker 1: this money has been spent. And I think we're going 464 00:25:15,440 --> 00:25:17,199 Speaker 1: to find that there's been a lot of fraud and 465 00:25:17,240 --> 00:25:19,879 Speaker 1: abuse that has taken place because so much money was 466 00:25:20,000 --> 00:25:22,639 Speaker 1: put out at one time with a lot not a 467 00:25:22,640 --> 00:25:27,159 Speaker 1: lot of safety valves and check Uh. So we're going 468 00:25:27,240 --> 00:25:31,640 Speaker 1: to see issues there. There's absolutely people who who need 469 00:25:31,720 --> 00:25:35,159 Speaker 1: money right now. UH. Real hanging point from me is 470 00:25:35,240 --> 00:25:40,320 Speaker 1: the six hundred dollar per week unemployment insurance. In my 471 00:25:40,480 --> 00:25:45,600 Speaker 1: district and much of Arkansas, people can make more on unemployment. 472 00:25:45,640 --> 00:25:49,000 Speaker 1: With the six hundred dollars per week unemployment and a 473 00:25:49,040 --> 00:25:51,920 Speaker 1: little over four hundred dollars a week from state unemployment. 474 00:25:52,240 --> 00:25:54,960 Speaker 1: You know, they're making over fifty two thousand a year 475 00:25:55,880 --> 00:25:59,480 Speaker 1: Uh on unemployment. That's more than teachers, more than policeman, 476 00:25:59,560 --> 00:26:04,399 Speaker 1: more than and Uh that's a real hang up for 477 00:26:04,440 --> 00:26:06,560 Speaker 1: me if we don't do something to adjust that, because 478 00:26:06,600 --> 00:26:10,960 Speaker 1: we're really incentivizing people not to go back to work. 479 00:26:11,680 --> 00:26:15,440 Speaker 1: And you know, there's some issues with with liability protection. 480 00:26:15,480 --> 00:26:17,359 Speaker 1: I've been reading them. I think they're calling at the 481 00:26:17,440 --> 00:26:21,160 Speaker 1: Hill fact trying to see what the Senate's put in. 482 00:26:21,320 --> 00:26:23,600 Speaker 1: And you know, as far as I'm concerned from what 483 00:26:23,640 --> 00:26:25,720 Speaker 1: I've seen there, I'm a long way away from being 484 00:26:25,720 --> 00:26:29,080 Speaker 1: able to support that legislation. Well, let me follow up 485 00:26:29,080 --> 00:26:32,640 Speaker 1: on this, because so many different people right now, and 486 00:26:32,640 --> 00:26:35,600 Speaker 1: and and families are looking at this not through a 487 00:26:35,600 --> 00:26:39,440 Speaker 1: political lens, but through a personal lens. And so, for example, 488 00:26:39,800 --> 00:26:43,840 Speaker 1: if you're a construction worker in Arkansas, for example, or 489 00:26:43,880 --> 00:26:48,879 Speaker 1: in Pennsylvania, and you've got an underlying health condition, and yeah, 490 00:26:49,000 --> 00:26:52,560 Speaker 1: maybe the cases in your state are trending downward, but 491 00:26:52,640 --> 00:26:57,520 Speaker 1: they're still not zero. The the psychology of the American 492 00:26:57,560 --> 00:27:01,080 Speaker 1: worker is so incredibly important right now. And if if 493 00:27:01,080 --> 00:27:03,320 Speaker 1: you're a worker and you've got to provide child care 494 00:27:03,359 --> 00:27:06,840 Speaker 1: for your grandkids, or you've got to provide child care 495 00:27:07,000 --> 00:27:09,440 Speaker 1: for for other family members, and your kids are going 496 00:27:09,480 --> 00:27:12,119 Speaker 1: back to school or whatnot, and maybe they're just not 497 00:27:12,240 --> 00:27:14,840 Speaker 1: comfortable to go back yet. So I mean, how do 498 00:27:14,960 --> 00:27:17,920 Speaker 1: you weigh And I'm not sure that there's an answer 499 00:27:18,000 --> 00:27:21,040 Speaker 1: to this. How do you weigh and balance the need 500 00:27:21,160 --> 00:27:25,560 Speaker 1: for wanting to incentivize and encourage the American entrepreneurial spirit 501 00:27:26,320 --> 00:27:32,520 Speaker 1: with the very real health concerns that millions of Americans 502 00:27:32,520 --> 00:27:36,919 Speaker 1: are facing on a deeply personal level. How do you do? 503 00:27:36,960 --> 00:27:39,640 Speaker 1: I think, and Kevin, you hit right at the heart 504 00:27:40,200 --> 00:27:43,280 Speaker 1: of the issue. And it's going to be different in 505 00:27:43,320 --> 00:27:46,120 Speaker 1: different places across the country. And that's the problem when 506 00:27:46,119 --> 00:27:49,600 Speaker 1: we paint with such a broad brush in the federal government. 507 00:27:49,760 --> 00:27:53,280 Speaker 1: My wife is a school teacher, and she has concerns 508 00:27:53,280 --> 00:27:56,720 Speaker 1: about going back to school, and you know, all these 509 00:27:56,800 --> 00:28:00,600 Speaker 1: kids and in close quarters. You know the we're learning 510 00:28:00,600 --> 00:28:04,440 Speaker 1: from the health data that young people get this disease, 511 00:28:04,560 --> 00:28:08,600 Speaker 1: but it doesn't seem to negatively affect them nearly as much. 512 00:28:08,640 --> 00:28:12,800 Speaker 1: But they're not just around young people all the time. UM, 513 00:28:12,840 --> 00:28:16,120 Speaker 1: So there's there's genuine concern there. The question is how 514 00:28:16,119 --> 00:28:19,440 Speaker 1: do we balance that. UM. One of the things that's 515 00:28:19,440 --> 00:28:23,200 Speaker 1: happening in Arkansas, they're planning to open up schools. They've 516 00:28:23,240 --> 00:28:25,200 Speaker 1: they've delayed the start a little bit, but they're also 517 00:28:25,320 --> 00:28:29,840 Speaker 1: trying to provide um both virtual and in person learning 518 00:28:30,119 --> 00:28:33,120 Speaker 1: where they can. But then you run into logistical issues 519 00:28:33,160 --> 00:28:35,919 Speaker 1: because we don't have high speed broadband everywhere in the 520 00:28:36,000 --> 00:28:40,959 Speaker 1: rural district. I'm glad you brought that up, Congressman Bruce Westerman, 521 00:28:41,000 --> 00:28:44,680 Speaker 1: who's a Republican from Arkansas's fourth congressional district. And because 522 00:28:44,680 --> 00:28:47,240 Speaker 1: I want to take it right there to technolog technology, 523 00:28:47,320 --> 00:28:50,600 Speaker 1: because you know, for all of the divisiveness and all 524 00:28:50,640 --> 00:28:54,440 Speaker 1: of the toxicity and the rhetorics surrounding Washington, d C. 525 00:28:54,640 --> 00:28:57,880 Speaker 1: These days, I have conversations with people like yourself as 526 00:28:57,880 --> 00:29:00,920 Speaker 1: well as some very progressive members. But on the issue 527 00:29:00,960 --> 00:29:05,560 Speaker 1: of broadband, is that a transpartisan issue? Is their common 528 00:29:05,600 --> 00:29:08,360 Speaker 1: ground to be found on there? Because the access to 529 00:29:08,600 --> 00:29:10,480 Speaker 1: for I mean, you use kids, but I mean you 530 00:29:10,480 --> 00:29:12,840 Speaker 1: could use business as well, but let's focus on the kids. 531 00:29:12,880 --> 00:29:16,520 Speaker 1: For for for youth to be able to access high 532 00:29:16,520 --> 00:29:19,560 Speaker 1: speed internet, that's a problem in rural communities, and you 533 00:29:19,640 --> 00:29:23,080 Speaker 1: know very well that's also a problem in inner cities 534 00:29:23,360 --> 00:29:26,600 Speaker 1: around the country. Is that where Republicans and Democrats can 535 00:29:26,600 --> 00:29:29,320 Speaker 1: actually maybe roll up their sleeves and get something done. 536 00:29:30,760 --> 00:29:34,000 Speaker 1: I think we've already done that. When you know, a 537 00:29:34,040 --> 00:29:36,240 Speaker 1: lot of school got canceled in the spring, and a 538 00:29:36,280 --> 00:29:38,760 Speaker 1: thought I was talking to constituents in my district, to 539 00:29:38,960 --> 00:29:42,520 Speaker 1: school administrators, that was like one of the number one 540 00:29:42,560 --> 00:29:45,200 Speaker 1: topics that would come up. We're trying to edge our 541 00:29:45,440 --> 00:29:48,640 Speaker 1: educate our kids remotely, but we don't have access to 542 00:29:48,680 --> 00:29:52,200 Speaker 1: high speed broadband. Congressman, what can you do? And the 543 00:29:52,280 --> 00:29:58,000 Speaker 1: answer is, uh, other than sending having the administration. Since 544 00:29:58,080 --> 00:30:01,480 Speaker 1: the Corps of Engineers or some in to build high 545 00:30:01,520 --> 00:30:07,280 Speaker 1: speed broadband networks, Congress has done a tremendous amount there 546 00:30:07,960 --> 00:30:11,800 Speaker 1: literally billions of dollars out there and grants available for 547 00:30:11,880 --> 00:30:14,680 Speaker 1: people to take advantage of through low interest loans or 548 00:30:14,720 --> 00:30:20,200 Speaker 1: grants to run high speed UH fiber to the last mile, 549 00:30:20,640 --> 00:30:24,040 Speaker 1: but it takes time to build those networks out. We've 550 00:30:24,040 --> 00:30:26,680 Speaker 1: got some great examples in my district where the rural 551 00:30:26,720 --> 00:30:30,960 Speaker 1: electric cooperatives have teamed up with some rural area telephone companies. 552 00:30:31,560 --> 00:30:34,160 Speaker 1: They're getting low interest loans from U s d A, 553 00:30:34,320 --> 00:30:37,600 Speaker 1: they're running the fiber. But we need it now. We're 554 00:30:37,600 --> 00:30:39,920 Speaker 1: talking about school starting in just a few weeks, and 555 00:30:39,960 --> 00:30:44,320 Speaker 1: there's just simply not the time to build these systems out, 556 00:30:44,360 --> 00:30:46,520 Speaker 1: and there's not enough people out there taking advantage of 557 00:30:46,560 --> 00:30:49,920 Speaker 1: the funding that usd A and the SEC has made 558 00:30:49,920 --> 00:30:52,960 Speaker 1: available through UH Congress, through the work we did on 559 00:30:53,000 --> 00:30:55,720 Speaker 1: the two tails and eight Team farm Bill and other 560 00:30:55,800 --> 00:30:58,760 Speaker 1: legislation to try to address the issue of high speed 561 00:30:58,760 --> 00:31:04,720 Speaker 1: broadband remarkable. Congressman Bruce Westernman, Republican from Arkansas's fourth congressional district. 562 00:31:04,760 --> 00:31:07,120 Speaker 1: See we covered it all. Congressman talked a little sports, 563 00:31:07,160 --> 00:31:10,880 Speaker 1: talked a little broadband, and of course talked some economic stimulus. 564 00:31:10,920 --> 00:31:12,440 Speaker 1: And next time you come on, I want an update 565 00:31:12,480 --> 00:31:15,600 Speaker 1: on the on the trillion dollar or trillion dollar the 566 00:31:15,640 --> 00:31:18,680 Speaker 1: tree initiative that I know that you are so uh 567 00:31:19,040 --> 00:31:21,320 Speaker 1: involved in and and and the planning of all of 568 00:31:21,320 --> 00:31:23,600 Speaker 1: those trees. So give us an update on that as well. 569 00:31:23,640 --> 00:31:27,959 Speaker 1: All right, all right, let's reset here. I'm Kevin Silly, 570 00:31:28,040 --> 00:31:32,400 Speaker 1: Chief Washington correspondent FRO Bloomberg Television and for Bloomberg Radio. 571 00:31:32,520 --> 00:31:37,239 Speaker 1: We are still awaiting President Donald Trump speaking at the 572 00:31:37,280 --> 00:31:41,840 Speaker 1: White House on all of the various economic developments of 573 00:31:41,880 --> 00:31:43,800 Speaker 1: the day. Let's go back to our panel while we 574 00:31:43,880 --> 00:31:47,960 Speaker 1: await for the President. Former Florida Congressman Patrick Murphy Adam Goodman, 575 00:31:48,120 --> 00:31:51,520 Speaker 1: Republican media Strategies columnists and partner at Ballard Partners in Washington. 576 00:31:51,880 --> 00:31:54,560 Speaker 1: You know, Patrick, I want to go to you because 577 00:31:55,200 --> 00:31:58,800 Speaker 1: you hear what what a very conservative member was just 578 00:31:58,920 --> 00:32:01,920 Speaker 1: saying there, and and and I don't want to I 579 00:32:01,960 --> 00:32:03,880 Speaker 1: want to talk about the divisiveness in a second. But 580 00:32:03,920 --> 00:32:07,600 Speaker 1: the common ground I'm wondering, you know, it reminded me 581 00:32:08,120 --> 00:32:11,360 Speaker 1: of Roosevelt back in the Federal Aid Highway Act of 582 00:32:11,440 --> 00:32:14,280 Speaker 1: nine when the way he's talking about broadband and he 583 00:32:14,280 --> 00:32:17,520 Speaker 1: says we can't do it fast enough. Well, the infrastructure 584 00:32:17,560 --> 00:32:19,960 Speaker 1: bill that everybody on the left and the right is 585 00:32:19,960 --> 00:32:22,680 Speaker 1: saying they want It's not just gonna be roads and bridges, 586 00:32:22,720 --> 00:32:26,160 Speaker 1: which are important. It's also gonna be some cyber I mean, 587 00:32:27,240 --> 00:32:29,280 Speaker 1: I think there's a lot of parallels to the to 588 00:32:29,360 --> 00:32:32,719 Speaker 1: the World War two, post World War two economic you know, 589 00:32:32,840 --> 00:32:36,440 Speaker 1: incentives of infrastructure and cyber you know, with the with 590 00:32:36,480 --> 00:32:40,040 Speaker 1: the highways that were built very Roosevelt, you know, Fdr. 591 00:32:40,400 --> 00:32:43,960 Speaker 1: Am I wrong or am I onto something? Patrick? I 592 00:32:44,000 --> 00:32:48,800 Speaker 1: think you're absolutely right. And why you're surprised, You're like 593 00:32:48,880 --> 00:32:55,280 Speaker 1: surprised that I had a good point. So look, I 594 00:32:55,320 --> 00:32:57,560 Speaker 1: think what people love about it these are these are 595 00:32:57,600 --> 00:33:01,160 Speaker 1: real jobs, people working with their ends, people feeling good 596 00:33:01,200 --> 00:33:03,800 Speaker 1: about what they're doing. Uh, you will see progress in 597 00:33:03,800 --> 00:33:07,240 Speaker 1: our community. Uh, it will pay off for generations to come. 598 00:33:08,080 --> 00:33:10,600 Speaker 1: I'm quite frankly surprised that this wasn't one of the 599 00:33:10,640 --> 00:33:13,560 Speaker 1: first things that that President Trump did four years ago 600 00:33:13,600 --> 00:33:16,520 Speaker 1: with his background and you know development, Um, it is 601 00:33:16,560 --> 00:33:18,800 Speaker 1: what it is. It's not too late. I think whomever 602 00:33:18,880 --> 00:33:22,160 Speaker 1: is elected in November will be focused on this because 603 00:33:22,880 --> 00:33:27,440 Speaker 1: I think it's a more justifiable spending package on the 604 00:33:27,440 --> 00:33:30,120 Speaker 1: heels of what we're spending now and about to pass 605 00:33:31,200 --> 00:33:33,600 Speaker 1: is unprecedented. Right, and then these numbers are just hard 606 00:33:33,640 --> 00:33:35,959 Speaker 1: to even wrap their head around that the debt we're 607 00:33:36,000 --> 00:33:40,000 Speaker 1: putting on our kids and grandkids, but the infrastructure, to me, 608 00:33:40,480 --> 00:33:44,320 Speaker 1: has a certain multiplier effect that we can justify. It's crazy, 609 00:33:44,320 --> 00:33:46,920 Speaker 1: Adam Goodman, I want to give you the last burden. 610 00:33:46,960 --> 00:33:48,720 Speaker 1: We got the two minute warning a couple of seconds 611 00:33:48,720 --> 00:33:50,600 Speaker 1: ago for President Trump. So if I interrupted, got a 612 00:33:50,640 --> 00:33:52,320 Speaker 1: toss to the president. But you know, what do you 613 00:33:52,360 --> 00:33:55,160 Speaker 1: make of the interview with the congressman and and all 614 00:33:55,160 --> 00:33:58,040 Speaker 1: of these conversations that we're having. It's bad to us, 615 00:33:58,080 --> 00:34:00,400 Speaker 1: But you know, you know what what we the country 616 00:34:00,440 --> 00:34:03,360 Speaker 1: needs to do. We be in business and Patrick knows 617 00:34:03,400 --> 00:34:06,000 Speaker 1: as better than anybody in business, and you too, Kevin. 618 00:34:06,080 --> 00:34:09,520 Speaker 1: We you know, we talked about how the last quarter go, Howard, 619 00:34:09,680 --> 00:34:11,719 Speaker 1: what was the bottom line and the company's you know, 620 00:34:11,840 --> 00:34:14,200 Speaker 1: profit or loss in the last quarter. We do it 621 00:34:14,360 --> 00:34:17,799 Speaker 1: in and and you know, three month buckets what we 622 00:34:17,920 --> 00:34:19,960 Speaker 1: really need to do. And it's the only time I'm 623 00:34:19,960 --> 00:34:22,120 Speaker 1: never gonna say this, and don't take us out of context. 624 00:34:22,400 --> 00:34:28,719 Speaker 1: We should pate in the Chinese We should look at 625 00:34:28,760 --> 00:34:32,400 Speaker 1: twenty five year plans and not quarterly plans. We need 626 00:34:32,480 --> 00:34:36,319 Speaker 1: quarter century plans and not three month plans. And if 627 00:34:36,360 --> 00:34:38,560 Speaker 1: we had that, we would say, we would have no 628 00:34:38,680 --> 00:34:41,560 Speaker 1: doubt we go after an infrastructure program that's second to 629 00:34:41,600 --> 00:34:45,440 Speaker 1: none in terms of investment, spending investment. It would be 630 00:34:45,440 --> 00:34:48,160 Speaker 1: the biggest infrastructure program and the history of the planet. 631 00:34:48,320 --> 00:34:51,000 Speaker 1: And if we do that, broad band and everything else included, 632 00:34:51,200 --> 00:34:54,360 Speaker 1: we will never look back. That's the one and the 633 00:34:54,520 --> 00:34:57,360 Speaker 1: one thing. I hope we could look farther down the 634 00:34:57,400 --> 00:35:00,879 Speaker 1: arizon than the next three month quarter reports. I want 635 00:35:00,880 --> 00:35:03,120 Speaker 1: to follow up on this. Do you do you think 636 00:35:03,160 --> 00:35:06,360 Speaker 1: and if I interrupted because of it's because of the President. 637 00:35:06,360 --> 00:35:08,360 Speaker 1: I got to toss them. But do you think that 638 00:35:08,400 --> 00:35:11,080 Speaker 1: the American public would want something like that? Would they 639 00:35:11,120 --> 00:35:14,439 Speaker 1: would would with Republicans and Democrats, the public be able 640 00:35:14,440 --> 00:35:17,480 Speaker 1: to get behind something like that. I don't know the 641 00:35:17,520 --> 00:35:20,280 Speaker 1: answer to that. I think they will. You know why, Kevin, 642 00:35:20,400 --> 00:35:23,920 Speaker 1: it's vitual. You can actually see this stuff. This is 643 00:35:23,960 --> 00:35:26,440 Speaker 1: like not a spending bill where it goes into a 644 00:35:26,520 --> 00:35:30,200 Speaker 1: dark hall of the government. Program You'll see the roads 645 00:35:30,239 --> 00:35:33,600 Speaker 1: of bridges, the cyber highways, You'll see the improvements. I 646 00:35:33,600 --> 00:35:35,800 Speaker 1: think that would be such a shot in the arm, 647 00:35:35,920 --> 00:35:38,759 Speaker 1: much less a job creator. And frankly, you know, going 648 00:35:38,800 --> 00:35:41,480 Speaker 1: back to FDR and that's something that has historical precedent 649 00:35:41,719 --> 00:35:45,719 Speaker 1: as well, because it's almost fascinating, especially on foreign policy. 650 00:35:45,800 --> 00:35:48,680 Speaker 1: I mean, and and both of you know this, Um, 651 00:35:48,960 --> 00:35:53,360 Speaker 1: how Republicans and Democrats really do find common ground, but 652 00:35:53,719 --> 00:35:57,040 Speaker 1: it's not necessarily talked about. I mean, especially on something 653 00:35:57,080 --> 00:35:59,360 Speaker 1: like how to deal with China, for example. I have 654 00:35:59,400 --> 00:36:03,399 Speaker 1: conversation with both sides every single day, and and they 655 00:36:03,520 --> 00:36:07,320 Speaker 1: know what they want to do, you know, Mark Warner Romney. 656 00:36:07,360 --> 00:36:09,600 Speaker 1: They get behind closed doors and they have a conversation, Hey, 657 00:36:09,600 --> 00:36:11,120 Speaker 1: this is what we need to get done, you know, 658 00:36:11,200 --> 00:36:13,040 Speaker 1: and and and it gets done. And Patrick, you having 659 00:36:13,040 --> 00:36:15,399 Speaker 1: served in office, you know that. But do you think, 660 00:36:15,480 --> 00:36:18,840 Speaker 1: based upon your experience, Patrick, that's some type of long 661 00:36:19,000 --> 00:36:23,759 Speaker 1: term strategy on issues pertaining to infrastructure, issues pertaining to 662 00:36:24,239 --> 00:36:26,640 Speaker 1: five G. Is that something that people would get on 663 00:36:26,680 --> 00:36:30,560 Speaker 1: board with the way that Adam was describing. I think so. 664 00:36:30,680 --> 00:36:33,320 Speaker 1: I agree with Adam. I think it's more tangeable. I 665 00:36:33,360 --> 00:36:37,640 Speaker 1: think people see it. I think there's less pushback as 666 00:36:37,719 --> 00:36:43,000 Speaker 1: well from I would even say the right who is uh, 667 00:36:43,360 --> 00:36:46,319 Speaker 1: you know, starting to to clam up more with this 668 00:36:46,320 --> 00:36:49,359 Speaker 1: this recent bill, Um, I think they'd be more open 669 00:36:49,440 --> 00:36:52,239 Speaker 1: to that type of spending of course, we have to 670 00:36:52,320 --> 00:36:55,760 Speaker 1: do everything possible to to prevent the abuse, the waste 671 00:36:55,760 --> 00:36:58,920 Speaker 1: of fraud, etcetera. Uh, and there's there's tends of billions 672 00:36:58,920 --> 00:37:01,200 Speaker 1: of dollars on that front. It we should be you know, 673 00:37:01,239 --> 00:37:06,080 Speaker 1: going after. But I think this is the no brainer 674 00:37:06,200 --> 00:37:09,160 Speaker 1: for whomever is elected No. November to use their political 675 00:37:09,200 --> 00:37:12,719 Speaker 1: capital to get this passed. It really will be remarkable 676 00:37:12,760 --> 00:37:15,759 Speaker 1: because who has political capital right now, Adam, is it 677 00:37:15,800 --> 00:37:18,319 Speaker 1: President Trump or is its Speaker Pelosi? In terms of 678 00:37:18,360 --> 00:37:22,680 Speaker 1: these negotiations pertaining to the stimulus. I think they both 679 00:37:22,760 --> 00:37:26,319 Speaker 1: have capital, and they both are lacking capital. I mean 680 00:37:27,480 --> 00:37:30,319 Speaker 1: to play, but do they have enough time to play 681 00:37:30,360 --> 00:37:32,239 Speaker 1: the chips the way they need to be played to 682 00:37:32,320 --> 00:37:35,200 Speaker 1: give the country a lift when we needed the most. 683 00:37:35,360 --> 00:37:37,879 Speaker 1: That's really the open question. But see, I also think 684 00:37:37,880 --> 00:37:42,280 Speaker 1: one of the biggest concerns here, Adam, is are not concerned. 685 00:37:42,400 --> 00:37:44,960 Speaker 1: I think one of the biggest you know, divides in 686 00:37:45,040 --> 00:37:46,759 Speaker 1: terms of the stimulus. And I was telling Tom Keen 687 00:37:46,840 --> 00:37:50,160 Speaker 1: this earlier this morning on Bloomberg Surveillance with Jonathan Fara, 688 00:37:50,239 --> 00:37:54,200 Speaker 1: and of course Li said Brandwitz. That was President Trump 689 00:37:54,360 --> 00:37:57,920 Speaker 1: speaking and taking questions from reporters in the Brady briefing 690 00:37:58,000 --> 00:38:00,880 Speaker 1: room at the White House. I'm Kevin Severally, Chief Washington 691 00:38:00,920 --> 00:38:03,719 Speaker 1: correspondent f for Bloomberg Television and for Bloomberg Radio, the 692 00:38:03,760 --> 00:38:07,680 Speaker 1: President saying that fiser COVID vaccine is heading in a 693 00:38:07,800 --> 00:38:12,759 Speaker 1: very positive direction. He also congratulated Kodak on the deal 694 00:38:12,920 --> 00:38:16,680 Speaker 1: with the United States, Kodak now getting a grant that 695 00:38:16,680 --> 00:38:21,120 Speaker 1: would allow it to shift from making cameras really and 696 00:38:21,120 --> 00:38:24,840 Speaker 1: and hydroxy cloroquin uh is now they've got a contract 697 00:38:24,920 --> 00:38:27,640 Speaker 1: for that. President also saying that the US is boosting 698 00:38:27,719 --> 00:38:31,200 Speaker 1: production of masks, gloves, and gowns, and that a vaccine 699 00:38:31,200 --> 00:38:36,600 Speaker 1: maybe approved quote very very soon. Speaking on the domestic 700 00:38:36,600 --> 00:38:39,319 Speaker 1: front with regards to Capitol Hill, he said that there 701 00:38:39,320 --> 00:38:41,800 Speaker 1: are parts of the Republican stimulus plan that he doesn't 702 00:38:42,480 --> 00:38:44,759 Speaker 1: entirely back. And that's where I want to pick up 703 00:38:45,080 --> 00:38:49,759 Speaker 1: with our Bloomberg Government Ace all star political reporter Jack Fitzpatrick, 704 00:38:49,840 --> 00:38:52,920 Speaker 1: who has been so incredible on all over the wonk 705 00:38:53,080 --> 00:38:55,880 Speaker 1: nous of this story. The President says, Jack, first of all, 706 00:38:55,920 --> 00:38:58,960 Speaker 1: thanks for returning. The President says that, uh, they're parts 707 00:38:59,000 --> 00:39:02,879 Speaker 1: of the Republican bill. They he doesn't even like. That's fascinating. 708 00:39:03,160 --> 00:39:07,440 Speaker 1: Will that will that impact the triangulation between Leader McConnell, 709 00:39:07,480 --> 00:39:11,719 Speaker 1: Speaker Pelosi, and the President. Yeah, we're we're seeing a 710 00:39:11,800 --> 00:39:14,879 Speaker 1: kind of weird dynamic and how these negotiations are playing out. 711 00:39:14,880 --> 00:39:17,400 Speaker 1: As surprising to hear him say that even though we 712 00:39:17,480 --> 00:39:20,440 Speaker 1: knew the President had pushed for a payroll tax cut 713 00:39:20,920 --> 00:39:23,480 Speaker 1: UH in this bill and they ended up not putting 714 00:39:23,480 --> 00:39:25,839 Speaker 1: it in there. The fact that he is still sort 715 00:39:25,880 --> 00:39:28,680 Speaker 1: of complaining about the contents of the Republican bill that 716 00:39:28,760 --> 00:39:33,680 Speaker 1: the administration negotiated with Senate Republicans is not a great sign. 717 00:39:34,200 --> 00:39:37,560 Speaker 1: In fact, we actually heard from Senate Majority Leader Mitch 718 00:39:37,640 --> 00:39:41,799 Speaker 1: McConnell UH saying he doesn't want to keep measures in 719 00:39:41,840 --> 00:39:44,759 Speaker 1: that aren't strictly related to the coronavirus, even though they 720 00:39:44,960 --> 00:39:47,920 Speaker 1: at the behest of the administration included a few things 721 00:39:48,000 --> 00:39:52,040 Speaker 1: including FBI headquarter money. So we actually see both sides 722 00:39:52,080 --> 00:39:56,759 Speaker 1: of the Republican UH team questioning certain aspects of this 723 00:39:56,800 --> 00:40:00,680 Speaker 1: bill as they go send representative them to talk to 724 00:40:00,719 --> 00:40:03,759 Speaker 1: the Democrats. UH. They're on a tight schedule. I can't 725 00:40:03,800 --> 00:40:05,960 Speaker 1: predict when they might find a deal, but this is 726 00:40:06,080 --> 00:40:09,480 Speaker 1: a really sort of early sign of cracks in the 727 00:40:09,520 --> 00:40:13,719 Speaker 1: facade for the Republicans. Negotiating on this film, And so 728 00:40:13,760 --> 00:40:16,480 Speaker 1: where do you think the negotiations go. We've talked so 729 00:40:16,560 --> 00:40:21,520 Speaker 1: much about Republican divisiveness, but there the Democrats aren't necessarily 730 00:40:21,880 --> 00:40:24,800 Speaker 1: they know they're against Trump, but but they're not necessarily 731 00:40:26,000 --> 00:40:31,720 Speaker 1: encouraging Speaker Pelosi to negotiate with McConnell. Yeah. So they 732 00:40:31,760 --> 00:40:37,240 Speaker 1: they headed into a meeting earlier today Pelosi, Schumer, Stephen Manusian, 733 00:40:37,400 --> 00:40:40,200 Speaker 1: and Mark Meadows. Uh, and they came out and it 734 00:40:40,280 --> 00:40:43,719 Speaker 1: seemed that they did not make much progress. Are Our 735 00:40:43,760 --> 00:40:46,160 Speaker 1: colleague Eric Watson was right outside the room, sent a 736 00:40:46,239 --> 00:40:48,879 Speaker 1: quote from Meadows saying, I don't know that I would 737 00:40:48,960 --> 00:40:53,480 Speaker 1: characterize it as getting closer after that meeting. So you know, 738 00:40:53,600 --> 00:40:56,000 Speaker 1: you know that Democrats want to keep to that six 739 00:40:56,080 --> 00:40:59,200 Speaker 1: hundred dollars a week extra money for unemployment. There's a 740 00:40:59,200 --> 00:41:01,399 Speaker 1: big gap between them and Republicans who are talking about 741 00:41:01,400 --> 00:41:05,680 Speaker 1: two hundred. Democrats, especially from progressives, are are under pressure 742 00:41:05,719 --> 00:41:08,600 Speaker 1: to try to really dig in their heels and not 743 00:41:08,760 --> 00:41:12,120 Speaker 1: give up anything, or at least not give up too much. Uh. 744 00:41:12,239 --> 00:41:16,399 Speaker 1: The question is how how staunch are they in that 745 00:41:16,520 --> 00:41:20,280 Speaker 1: stand When the money runs out. The current extra money 746 00:41:20,360 --> 00:41:23,719 Speaker 1: runs out at the end of the day Friday, So 747 00:41:23,760 --> 00:41:26,200 Speaker 1: there's going to be a cut off unless they miraculously 748 00:41:26,200 --> 00:41:29,440 Speaker 1: get a deal essentially right now. UH and Democrats will 749 00:41:29,480 --> 00:41:31,960 Speaker 1: have to ask themselves, do we want to keep pushing 750 00:41:32,000 --> 00:41:35,839 Speaker 1: for everything we want or when people see a cut 751 00:41:35,880 --> 00:41:38,160 Speaker 1: off in their additional funds, do we start to make 752 00:41:38,239 --> 00:41:43,200 Speaker 1: some some difficult choices and difficult to compromises with Republicans. 753 00:41:43,920 --> 00:41:46,880 Speaker 1: And you know, there is a fascinating moment in the 754 00:41:46,920 --> 00:41:50,120 Speaker 1: press conference Jack Fitzpatrick that we just saw UH and 755 00:41:50,200 --> 00:41:54,200 Speaker 1: Mario Parker asking the President some brilliant questions in terms 756 00:41:54,239 --> 00:41:57,600 Speaker 1: of our our Mario Parker in terms of what getting 757 00:41:57,640 --> 00:41:59,880 Speaker 1: into the weeds. But there was this fascinating moment that 758 00:42:00,040 --> 00:42:02,279 Speaker 1: I just was like Tom Keen, if he's watching this, 759 00:42:02,320 --> 00:42:05,560 Speaker 1: will we have so much to say about this particular point. 760 00:42:06,040 --> 00:42:08,759 Speaker 1: It's when the President said, you know, it must be 761 00:42:08,880 --> 00:42:12,120 Speaker 1: my personality his words, it must be my personality and 762 00:42:12,120 --> 00:42:13,799 Speaker 1: and and it was funny. I mean, he did it 763 00:42:13,840 --> 00:42:15,759 Speaker 1: for last but there were there's always truth and humor, 764 00:42:16,440 --> 00:42:21,520 Speaker 1: and I thought it was remarkable to see him openly questioned. 765 00:42:21,520 --> 00:42:24,480 Speaker 1: It's not that he doesn't like Dr Fauci per Se 766 00:42:24,600 --> 00:42:28,920 Speaker 1: or Dr Burkes, who's been on this program. With me. Um, 767 00:42:29,000 --> 00:42:31,520 Speaker 1: It's not that he doesn't like them, it's you know, 768 00:42:31,640 --> 00:42:35,480 Speaker 1: Faucci's out there throwing the baseball and and you know, 769 00:42:35,560 --> 00:42:38,560 Speaker 1: and and talking to everybody, and and you know, I mean, 770 00:42:38,640 --> 00:42:41,719 Speaker 1: it's why, why did why is his approval ratings so 771 00:42:41,800 --> 00:42:44,480 Speaker 1: much higher than the presidents? And and and obviously they 772 00:42:44,480 --> 00:42:48,000 Speaker 1: have two very different jobs. But I wonder if the 773 00:42:48,040 --> 00:42:51,520 Speaker 1: advisors close to President Trump are tapping into something. And 774 00:42:51,560 --> 00:42:54,879 Speaker 1: I wonder if what we just heard was a foreshadowing 775 00:42:54,920 --> 00:42:57,319 Speaker 1: of the contrast that the President's going to make with 776 00:42:57,360 --> 00:43:00,840 Speaker 1: the presumptive Democratic presidential nominee Joe Biden, which is, you 777 00:43:00,920 --> 00:43:03,440 Speaker 1: might not like the tweets, you might not like the tone, 778 00:43:03,840 --> 00:43:06,680 Speaker 1: you might not like the press conferences, but what what 779 00:43:06,680 --> 00:43:09,480 Speaker 1: what about the policy don't you like? That's the debate 780 00:43:09,880 --> 00:43:12,920 Speaker 1: that based upon my reporting, Jack Fitzpatrick, that's the debate 781 00:43:13,000 --> 00:43:15,640 Speaker 1: that the president has been trying to have for the 782 00:43:15,680 --> 00:43:19,840 Speaker 1: past three months. Is that debate you might not like 783 00:43:19,960 --> 00:43:22,480 Speaker 1: the tone, but but what about the policies don't you like? 784 00:43:23,280 --> 00:43:25,719 Speaker 1: Now I'm not sure if it's going to be enough, 785 00:43:25,760 --> 00:43:28,200 Speaker 1: But but based upon the conversations you have up on 786 00:43:28,280 --> 00:43:32,800 Speaker 1: Capitol Hill, are Republicans wanting the president to either stay 787 00:43:32,800 --> 00:43:36,000 Speaker 1: out of this or to to get back into it, 788 00:43:36,160 --> 00:43:41,000 Speaker 1: albeit with a very different tone. So that's you're you're 789 00:43:41,040 --> 00:43:43,600 Speaker 1: touching on something really interesting. First of all, you you 790 00:43:43,640 --> 00:43:46,040 Speaker 1: could make the argument that the president is right that 791 00:43:46,160 --> 00:43:49,040 Speaker 1: maybe his personality is one of the things that sets 792 00:43:49,080 --> 00:43:51,680 Speaker 1: him apart as being less popular in a lot of 793 00:43:51,680 --> 00:43:57,800 Speaker 1: the polling uh than Saucy and Burke's um. The lynch 794 00:43:57,920 --> 00:44:02,120 Speaker 1: pin here though, is ore all people are not particularly 795 00:44:02,160 --> 00:44:05,319 Speaker 1: satisfied with where our country is in taking care of 796 00:44:05,360 --> 00:44:09,080 Speaker 1: the coronavirus. UH. So you know, when you talk to 797 00:44:09,160 --> 00:44:12,160 Speaker 1: Republican lawmakers, when you read the polls and see just 798 00:44:12,239 --> 00:44:17,000 Speaker 1: where where voters are, you could see a scenario in which, 799 00:44:17,719 --> 00:44:20,239 Speaker 1: over the next couple of months, if if the US 800 00:44:20,320 --> 00:44:24,279 Speaker 1: really does better, gets these this expansion in cases that 801 00:44:24,320 --> 00:44:28,320 Speaker 1: we found under control, um, Trump would have a strong 802 00:44:28,440 --> 00:44:31,719 Speaker 1: argument to say, uh, look, you you may not like 803 00:44:31,840 --> 00:44:35,000 Speaker 1: my personality, but we got the job done. Eventually, the 804 00:44:35,000 --> 00:44:39,440 Speaker 1: economy is coming back, etcetera. Uh. I think where he 805 00:44:39,560 --> 00:44:42,480 Speaker 1: stands right now is there are a number of voters 806 00:44:42,520 --> 00:44:46,000 Speaker 1: out there who say, I wish the president would sort 807 00:44:46,000 --> 00:44:49,439 Speaker 1: of let scientists take the lead, let the experts take 808 00:44:49,440 --> 00:44:52,520 Speaker 1: the lead, get this over with bite the bullet shut 809 00:44:52,520 --> 00:44:55,120 Speaker 1: down however we need and then get back to reopening 810 00:44:55,120 --> 00:44:58,000 Speaker 1: the economy and the reason of the personality and the 811 00:44:58,040 --> 00:45:00,200 Speaker 1: reason I think, you know and anyone who loves since 812 00:45:00,200 --> 00:45:01,919 Speaker 1: to the show. I'm a nerd. I want to talk, 813 00:45:01,960 --> 00:45:03,520 Speaker 1: I want to go in the weeds, I want to 814 00:45:03,560 --> 00:45:06,080 Speaker 1: get wonky. But the reason I bring this up is 815 00:45:06,120 --> 00:45:10,400 Speaker 1: because the personality problem, as the President just openly ruminated 816 00:45:10,440 --> 00:45:12,920 Speaker 1: about inside of the Brady Briefing room at the White House, 817 00:45:13,920 --> 00:45:18,320 Speaker 1: is that costing him political capital and political capital to 818 00:45:18,320 --> 00:45:21,160 Speaker 1: to weigh in on a debate that he wants to 819 00:45:21,239 --> 00:45:24,759 Speaker 1: have about the economy. But because he's backed into this 820 00:45:24,920 --> 00:45:28,920 Speaker 1: personality corner, you know, as he just his words not mine, 821 00:45:29,360 --> 00:45:32,120 Speaker 1: as he just talked about, is that I wonder if 822 00:45:32,120 --> 00:45:33,879 Speaker 1: the advisors, I mean I can tell you they are 823 00:45:34,160 --> 00:45:36,960 Speaker 1: the advisors close to him, are saying, hey, you've got 824 00:45:36,960 --> 00:45:39,000 Speaker 1: to fix this because right and how you're seen as 825 00:45:39,040 --> 00:45:41,440 Speaker 1: too toxic to get into the debate up on Capitol 826 00:45:41,480 --> 00:45:44,719 Speaker 1: Hill when you've got House Republicans telling the Treasury Secretary 827 00:45:44,760 --> 00:45:48,560 Speaker 1: behind closed doors, don't talk to Speaker Pelosi without US president. 828 00:45:48,680 --> 00:45:51,440 Speaker 1: They wouldn't do that if if if President Trump was 829 00:45:51,480 --> 00:45:55,160 Speaker 1: seen as as someone who had a lot of political capital. 830 00:45:55,200 --> 00:45:56,719 Speaker 1: I mean, you know this, Jack, you cover all these 831 00:45:56,760 --> 00:46:00,800 Speaker 1: fights for years. Yeah. As as much as it sounds 832 00:46:00,800 --> 00:46:04,239 Speaker 1: like we're focusing strictly on politics there, there is a 833 00:46:04,280 --> 00:46:09,040 Speaker 1: really substantial reason to focus on the capital of political 834 00:46:09,520 --> 00:46:12,239 Speaker 1: and yes, political capital. And and you look back to 835 00:46:13,160 --> 00:46:19,840 Speaker 1: if you look at old polls, voters often favored Romney's policy. 836 00:46:19,920 --> 00:46:22,000 Speaker 1: You know, who do you trust more on economy or 837 00:46:22,040 --> 00:46:24,520 Speaker 1: healthcare or this or that. But the question that is 838 00:46:24,600 --> 00:46:28,840 Speaker 1: really important for candidates is generally phrase, which candidate do 839 00:46:28,880 --> 00:46:31,719 Speaker 1: you trust to uh to care about? Voters like you 840 00:46:31,920 --> 00:46:34,200 Speaker 1: care about the issues that you care about. If you 841 00:46:34,239 --> 00:46:37,720 Speaker 1: look at those questions, that's a major reason why Romney 842 00:46:37,719 --> 00:46:40,879 Speaker 1: lost in to Obama. It's an area where I think 843 00:46:40,880 --> 00:46:44,160 Speaker 1: there are more mixed results generally, but where from probably 844 00:46:44,200 --> 00:46:46,759 Speaker 1: does not have an advantage of over Biden. And if 845 00:46:46,800 --> 00:46:50,680 Speaker 1: you are going to Capitol Hill saying I want to 846 00:46:50,719 --> 00:46:55,320 Speaker 1: take away unemployment funds during a pandemic while you're also 847 00:46:56,320 --> 00:47:00,600 Speaker 1: tweeting retweeting people criticizing Fauci, that doesn't help you there. 848 00:47:00,680 --> 00:47:03,400 Speaker 1: And it's gonna make it harder for you to negotiate 849 00:47:03,440 --> 00:47:06,320 Speaker 1: because at a certain point if you're unpopular enough, democrats 850 00:47:06,360 --> 00:47:08,319 Speaker 1: are going to dig in their heels and say, look, 851 00:47:08,360 --> 00:47:11,279 Speaker 1: if you want to push unpopular policies, will kind of 852 00:47:11,360 --> 00:47:13,399 Speaker 1: let you do that, and you'll feed yourself in the foot, 853 00:47:13,600 --> 00:47:15,640 Speaker 1: all right, Jack fits Patrick, you do a brilliant job, 854 00:47:15,719 --> 00:47:17,759 Speaker 1: my friend. Thanks so much for being so generous with 855 00:47:17,800 --> 00:47:20,960 Speaker 1: your reporting and your time. I'm Kevin Cirelli, Chief Washington 856 00:47:21,000 --> 00:47:22,959 Speaker 1: correspondent for Bloomberg TV and Radio. Thank you to Adam 857 00:47:23,000 --> 00:47:25,160 Speaker 1: Bioman and Patrick Murphy as well, and of course Corners 858 00:47:25,239 --> 00:47:27,800 Speaker 1: and Bruce Westerman and Jordan Fabian. You're listening to Bloomberg