1
00:00:02,520 --> 00:00:10,639
Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. This is your weekly

2
00:00:10,800 --> 00:00:15,320
Speaker 1: Washington Policy Pulse, the Balance of Power Podcast. I'm Joe Matthew.

3
00:00:15,560 --> 00:00:19,159
Speaker 1: Every Monday, Bloomberg Intelligence, senior policy analyst and friend of

4
00:00:19,160 --> 00:00:22,480
Speaker 1: the show, Nathan Dean shares his weekly call on upcoming

5
00:00:22,520 --> 00:00:25,720
Speaker 1: catalysts in the nation's capital. Listen for the most recent

6
00:00:25,720 --> 00:00:29,000
Speaker 1: and relevant policy research from our team at Bloomberg Intelligence.

7
00:00:29,240 --> 00:00:31,520
Speaker 1: Now with today's installment, here's Nathan Dean.

8
00:00:32,440 --> 00:00:34,920
Speaker 2: Welcome to the Washington Policy Pulse again.

9
00:00:35,000 --> 00:00:36,519
Speaker 3: Welcome to those of you who are coming to us

10
00:00:36,640 --> 00:00:39,320
Speaker 3: via the Balance of Power podcast. We always appreciate you

11
00:00:39,360 --> 00:00:42,040
Speaker 3: listening via that record as well. We've got a lot

12
00:00:42,080 --> 00:00:44,159
Speaker 3: of interesting things. I honestly thought today was going to

13
00:00:44,159 --> 00:00:46,640
Speaker 3: be a fairly light day just because it's Thanksgiving week

14
00:00:46,680 --> 00:00:49,199
Speaker 3: here in Washington, but we actually got quite a bit

15
00:00:49,240 --> 00:00:52,199
Speaker 3: of stuff happening. So I'm going to run through just

16
00:00:52,200 --> 00:00:53,920
Speaker 3: a couple of the more minor items, and then we're

17
00:00:53,920 --> 00:00:56,800
Speaker 3: going to turn to Dwane Wright, our senior healthcare policy analyst,

18
00:00:56,880 --> 00:00:58,920
Speaker 3: to talk about what's going on in the Obamacare space.

19
00:00:59,320 --> 00:01:01,600
Speaker 3: So just real banefully just for other things that are

20
00:01:01,640 --> 00:01:04,720
Speaker 3: going on. We've talked in the past about this idea

21
00:01:04,760 --> 00:01:09,320
Speaker 3: of a thirteen billion dollar farm aid package. Secretary of

22
00:01:09,360 --> 00:01:12,200
Speaker 3: Rollins with the Agricultural Secretary was just on Fox News

23
00:01:12,240 --> 00:01:15,399
Speaker 3: about an hour ago and said that that package would

24
00:01:15,400 --> 00:01:19,080
Speaker 3: come the week after Thanksgiving next week. So obviously, you know,

25
00:01:19,120 --> 00:01:20,760
Speaker 3: the general rule of film that we like to joke

26
00:01:20,760 --> 00:01:23,440
Speaker 3: about is that everything in Washington, whether it's a holiday

27
00:01:23,440 --> 00:01:26,720
Speaker 3: party or any type of legislative action or anything like that,

28
00:01:26,959 --> 00:01:29,000
Speaker 3: usually happens in the first week of December. By the

29
00:01:29,000 --> 00:01:31,480
Speaker 3: second week of December, folks want to go home. That's

30
00:01:31,560 --> 00:01:33,920
Speaker 3: usually when the regulators start taking up stuff, and then

31
00:01:33,959 --> 00:01:37,360
Speaker 3: by the third week of December, everybody's out. So generally speaking,

32
00:01:37,360 --> 00:01:39,759
Speaker 3: that first week of December, you're going to expect some headlines.

33
00:01:40,400 --> 00:01:41,319
Speaker 2: I also want to talk.

34
00:01:41,200 --> 00:01:43,880
Speaker 3: A little bit about what's happening over the Commodity Futures

35
00:01:43,920 --> 00:01:47,800
Speaker 3: Trading Commission. So this is that small regulator that doesn't

36
00:01:47,800 --> 00:01:52,920
Speaker 3: have as much public exposure as the SEC does, but

37
00:01:52,960 --> 00:01:54,880
Speaker 3: it's very very powerful for those of you who are

38
00:01:54,880 --> 00:01:58,160
Speaker 3: in the derivatives and the crypto space. So you know,

39
00:01:58,320 --> 00:02:01,880
Speaker 3: just last week the Senate, the Senate Agricultural Committee had

40
00:02:01,880 --> 00:02:04,480
Speaker 3: a hearing for Mike sea League to be the next

41
00:02:04,600 --> 00:02:07,800
Speaker 3: chairman of the CFTC. The Senate ad Committee actually then

42
00:02:07,920 --> 00:02:10,839
Speaker 3: voted on his nomination the day next. I think he'll

43
00:02:10,880 --> 00:02:14,280
Speaker 3: be passed and become chairman sometime in early December. But

44
00:02:14,919 --> 00:02:17,079
Speaker 3: you know, we're gonna have new leadership over the CFTC.

45
00:02:17,280 --> 00:02:18,920
Speaker 3: Now what does that mean. I just put a note

46
00:02:18,960 --> 00:02:22,440
Speaker 3: this morning, and it largely means the status quo. I mean,

47
00:02:22,680 --> 00:02:25,079
Speaker 3: so you know, there hasn't been a lot happening over

48
00:02:25,120 --> 00:02:27,120
Speaker 3: at the CFTC at the moment. They only have one

49
00:02:27,120 --> 00:02:31,800
Speaker 3: individual who's leading it, that's Acting Chairman Caroline fam But

50
00:02:32,080 --> 00:02:35,680
Speaker 3: you know, the CFTC had received a lot more power

51
00:02:35,760 --> 00:02:38,320
Speaker 3: from Dodd Frank and took authority over the swap markets

52
00:02:38,320 --> 00:02:40,480
Speaker 3: and has authority over the futures markets and so forth.

53
00:02:40,960 --> 00:02:43,160
Speaker 3: But the industry has largely just been in his status

54
00:02:43,240 --> 00:02:45,120
Speaker 3: quo at the moment, just because there really hasn't been

55
00:02:45,160 --> 00:02:47,680
Speaker 3: all that much tinkering with these rules. Really hasn't many

56
00:02:47,800 --> 00:02:50,600
Speaker 3: changes to these rules, and I don't anticipate that happening

57
00:02:50,639 --> 00:02:53,040
Speaker 3: anytime soon. So if you're looking at the CME or

58
00:02:53,080 --> 00:02:56,560
Speaker 3: the ICE world, really that regulatory framework is going to

59
00:02:56,600 --> 00:02:57,120
Speaker 3: stick around.

60
00:02:57,160 --> 00:02:59,200
Speaker 2: If you're looking at the swaps rule from one of the.

61
00:02:59,200 --> 00:03:02,240
Speaker 3: Banks that regulatory requirements really going to stick around. The

62
00:03:02,280 --> 00:03:06,040
Speaker 3: one caveat of this is cryptocurrency, and obviously acting CHAF

63
00:03:06,120 --> 00:03:08,760
Speaker 3: FAM has been doing some work with you know, Chairman

64
00:03:08,800 --> 00:03:11,079
Speaker 3: Atkins over the SEC on crypto and that's going to

65
00:03:11,120 --> 00:03:15,399
Speaker 3: continue now Mike Seegleague Sealeague comes from the Chairman Atkins camp.

66
00:03:15,440 --> 00:03:17,520
Speaker 3: He's actually a special advisor over at the SEC. He

67
00:03:17,600 --> 00:03:20,120
Speaker 3: understands crypto. I think he understands a little bit of

68
00:03:20,120 --> 00:03:22,200
Speaker 3: the CME and ICE world as well. So I think

69
00:03:22,240 --> 00:03:24,040
Speaker 3: it's going to be one of those picks that ultimately

70
00:03:24,400 --> 00:03:26,680
Speaker 3: is just going to allow the CEEFTC to continue without

71
00:03:26,760 --> 00:03:30,000
Speaker 3: much disruption or change. So again, we'll see what happens,

72
00:03:30,000 --> 00:03:32,840
Speaker 3: but I think you know, his confirmation will come in

73
00:03:32,960 --> 00:03:36,960
Speaker 3: early December. Other things to go on is for those

74
00:03:37,000 --> 00:03:39,440
Speaker 3: of you who are in the defense space, the NDAA

75
00:03:39,560 --> 00:03:42,840
Speaker 3: language was supposed to be out by Thanksgiving. The House

76
00:03:42,880 --> 00:03:45,720
Speaker 3: of Armed Services Committee Chairman Mike Rodgers has come out

77
00:03:45,760 --> 00:03:48,560
Speaker 3: and said, now look for December first for that language.

78
00:03:48,600 --> 00:03:50,120
Speaker 3: It looks like there's still just a little bit of

79
00:03:50,160 --> 00:03:52,360
Speaker 3: haggling over that thirty two billion dollars that we talked.

80
00:03:52,160 --> 00:03:53,120
Speaker 2: About in last week.

81
00:03:53,160 --> 00:03:58,000
Speaker 3: Call again in the artificial intelligence space. At four o'clock

82
00:03:58,080 --> 00:04:02,040
Speaker 3: today Eastern President Trump is anticipated to sign that executive

83
00:04:02,200 --> 00:04:05,000
Speaker 3: order on artificial intelligence. I want to bring up Matt

84
00:04:05,000 --> 00:04:08,320
Speaker 3: Shettenhelm's piece real quick, as Matt Schet wrote about this

85
00:04:08,480 --> 00:04:11,880
Speaker 3: just last week when the news broke that there was

86
00:04:11,960 --> 00:04:15,080
Speaker 3: going to be a an executive order, and the headline

87
00:04:15,120 --> 00:04:18,680
Speaker 3: of his note says, Trump probably can't block state AI

88
00:04:18,800 --> 00:04:22,479
Speaker 3: laws without Congress, So this executive order most likely will

89
00:04:22,520 --> 00:04:25,000
Speaker 3: be to say, look the you know, any state that

90
00:04:25,240 --> 00:04:30,760
Speaker 3: implements a law restrict or restricting or constraining artificial intelligence

91
00:04:30,880 --> 00:04:33,840
Speaker 3: is going to face funding fights or you know, funding cuts,

92
00:04:33,960 --> 00:04:36,520
Speaker 3: et cetera. Matt's whole point here is is that unless

93
00:04:36,520 --> 00:04:40,200
Speaker 3: Congress passes the law on those points, such actions will

94
00:04:40,200 --> 00:04:43,719
Speaker 3: most likely probably falter in court. So again keep that

95
00:04:43,800 --> 00:04:45,960
Speaker 3: in mind as you see at the headlines later today.

96
00:04:46,400 --> 00:04:47,880
Speaker 3: And then finally, for those of you who are in

97
00:04:47,880 --> 00:04:52,920
Speaker 3: the financial services space, the banks, the FDIC is going

98
00:04:53,000 --> 00:04:57,560
Speaker 3: to finalize the enhanced supplementally leverage ratio tomorrow at ten am.

99
00:04:58,040 --> 00:05:00,760
Speaker 3: The Federal Reserve is reported to be fre finalizing it.

100
00:05:00,800 --> 00:05:03,600
Speaker 3: Around the same tape. There was a little bit of trickery,

101
00:05:03,680 --> 00:05:06,880
Speaker 3: in my words, going on here. It's because generally you

102
00:05:06,960 --> 00:05:09,120
Speaker 3: need to have seven days to have a Sunshine Act.

103
00:05:09,120 --> 00:05:11,000
Speaker 3: Notice what happens is you put out a notice saying

104
00:05:11,000 --> 00:05:12,719
Speaker 3: that we're going to have a meeting within seven days.

105
00:05:13,360 --> 00:05:15,480
Speaker 2: In rare instances, you don't have to follow that.

106
00:05:15,680 --> 00:05:18,479
Speaker 3: And it looks like the FDIC considered this to be

107
00:05:18,520 --> 00:05:22,040
Speaker 3: a rare exception to that. So tomorrow at ten am,

108
00:05:22,400 --> 00:05:25,159
Speaker 3: look for the language to be out sometime within the

109
00:05:25,200 --> 00:05:28,000
Speaker 3: fifteen twenty minutes after that. So I know many of

110
00:05:28,000 --> 00:05:30,200
Speaker 3: you are on the fixed income side care about this

111
00:05:30,240 --> 00:05:32,200
Speaker 3: in terms of the impact of the treasury markets. But

112
00:05:32,320 --> 00:05:35,920
Speaker 3: remember this actually takes the ESLR, which was at five percent,

113
00:05:36,000 --> 00:05:39,080
Speaker 3: lowers at the three plus fifty percent of g subsurcharge,

114
00:05:39,200 --> 00:05:41,320
Speaker 3: you're looking around three point four to four point three

115
00:05:41,360 --> 00:05:44,279
Speaker 3: depending on the bank and the proposed rule, and the

116
00:05:44,320 --> 00:05:47,480
Speaker 3: final rule will most likely exclude treasuries from the I'm sorry,

117
00:05:47,520 --> 00:05:50,800
Speaker 3: does not exclude treasuries from the denominator.

118
00:05:51,000 --> 00:05:52,800
Speaker 2: May have just made a big mistake there.

119
00:05:52,839 --> 00:05:56,320
Speaker 3: Does not exclude treasuries from the denominator of that rule.

120
00:05:56,960 --> 00:05:59,160
Speaker 3: So okay, with all that being said, I want to

121
00:05:59,200 --> 00:06:01,680
Speaker 3: bring in Dwain right because we've actually had a lot

122
00:06:01,720 --> 00:06:05,880
Speaker 3: of stuff happening right now in the healthcare space, and

123
00:06:05,960 --> 00:06:09,240
Speaker 3: this is all geared towards Obamacare subsidy. So, Duane, you

124
00:06:09,360 --> 00:06:11,880
Speaker 3: put out a react this morning. Can you tell us

125
00:06:11,920 --> 00:06:13,920
Speaker 3: why did you put that react out and what did

126
00:06:13,960 --> 00:06:14,279
Speaker 3: it say?

127
00:06:15,480 --> 00:06:20,320
Speaker 4: Yeah, So thanks Nathan, and to your earlier point, hoping

128
00:06:20,360 --> 00:06:23,200
Speaker 4: for a quiet week starting off the Monday with quite

129
00:06:23,200 --> 00:06:27,720
Speaker 4: a bit of news. So the gist of it is,

130
00:06:28,520 --> 00:06:32,159
Speaker 4: and I think we probably saw some hints of this

131
00:06:32,400 --> 00:06:37,480
Speaker 4: yesterday during some news or press conference or on one

132
00:06:37,480 --> 00:06:43,640
Speaker 4: of the weekly shows the president. I guess there are

133
00:06:43,720 --> 00:06:46,920
Speaker 4: rumors that's been reported by Bloomberg that we will see

134
00:06:46,920 --> 00:06:52,880
Speaker 4: the White House make a proposal that would extend the

135
00:06:52,920 --> 00:06:57,359
Speaker 4: Obamacare subsidies for two years, and it would do a

136
00:06:57,360 --> 00:07:00,240
Speaker 4: whole host of other things that would address some of

137
00:07:00,240 --> 00:07:04,479
Speaker 4: the concerns from Republicans, which would be to cap the

138
00:07:04,680 --> 00:07:08,919
Speaker 4: eligibility of those subsidies to people at a certain income.

139
00:07:09,040 --> 00:07:13,240
Speaker 4: Right now, if you are over if you make over

140
00:07:13,280 --> 00:07:15,800
Speaker 4: fo hundred percent of the federal povery level, which is

141
00:07:15,840 --> 00:07:20,080
Speaker 4: about sixty two thousand dollars a year, your prems are

142
00:07:20,080 --> 00:07:22,760
Speaker 4: capped at eight point five percent of your income. And

143
00:07:22,840 --> 00:07:30,480
Speaker 4: so it would, as reported, cap the eligibility those making

144
00:07:30,640 --> 00:07:34,200
Speaker 4: under seven hundred percent of the federal powery level, which

145
00:07:34,240 --> 00:07:38,720
Speaker 4: is still roughly one hundred and ten thousand dollars a

146
00:07:38,840 --> 00:07:44,280
Speaker 4: year for an individual. The other piece of this is

147
00:07:44,320 --> 00:07:49,800
Speaker 4: to limit the availability of these so called zero premium options.

148
00:07:49,880 --> 00:07:55,360
Speaker 4: What the Enhanced Subsidies did, which is an old Biden

149
00:07:55,440 --> 00:08:00,000
Speaker 4: era proposal or expansion of the ACA, is it essentially

150
00:08:01,680 --> 00:08:06,520
Speaker 4: made these premiums pretty much zero for people making about

151
00:08:06,520 --> 00:08:09,040
Speaker 4: one hundred and fifty at around one hundred and fifty

152
00:08:09,160 --> 00:08:13,040
Speaker 4: percent of the federal property level, and so getting rid

153
00:08:13,080 --> 00:08:16,840
Speaker 4: of those so that there's some contribution, which many Republicans

154
00:08:16,840 --> 00:08:21,360
Speaker 4: have said has led to an increase in fraud, and

155
00:08:22,160 --> 00:08:25,680
Speaker 4: quite interestingly, that's where we've seen the biggest increase in enrollment,

156
00:08:25,720 --> 00:08:28,960
Speaker 4: which is on that lower end of the enrollment scale.

157
00:08:29,840 --> 00:08:33,640
Speaker 4: And then there's also some reporting that we'll see some

158
00:08:33,880 --> 00:08:38,760
Speaker 4: tie in with health savings accounts, which has long been

159
00:08:38,760 --> 00:08:43,200
Speaker 4: a Republican priority, which is to expand the availability of

160
00:08:43,240 --> 00:08:45,439
Speaker 4: these under the premise that if you give people more

161
00:08:45,520 --> 00:08:52,959
Speaker 4: control over their healthcare, one, it would reduce healthcare utilization

162
00:08:53,080 --> 00:08:56,439
Speaker 4: as if people are in charge of their own dollars,

163
00:08:57,000 --> 00:08:59,439
Speaker 4: but also just get people more flexibility in how they

164
00:08:59,600 --> 00:09:05,199
Speaker 4: spend resources. So those seem to be the key pieces

165
00:09:05,240 --> 00:09:09,200
Speaker 4: of that proposal, and of course we'll be looking forward

166
00:09:09,240 --> 00:09:10,600
Speaker 4: to more details on that.

167
00:09:11,040 --> 00:09:13,280
Speaker 2: How do you think the Democrats would respond to that.

168
00:09:15,160 --> 00:09:19,239
Speaker 4: Well, you know, absent the details, I think they're Democrats

169
00:09:19,280 --> 00:09:24,280
Speaker 4: had already been on board with income relating the proposed

170
00:09:24,320 --> 00:09:28,040
Speaker 4: of the substies moving forward. We've seen a handful of

171
00:09:28,080 --> 00:09:33,520
Speaker 4: Democrats either come out with some income limit that's right

172
00:09:33,559 --> 00:09:36,679
Speaker 4: around seven percent of the poverty level, but we did

173
00:09:36,720 --> 00:09:41,480
Speaker 4: see one of the first bipartisan bills actually go back

174
00:09:41,520 --> 00:09:46,720
Speaker 4: to the pre bid and era change, So I think

175
00:09:46,720 --> 00:09:49,440
Speaker 4: there's a lot of receptivity to it. And when you

176
00:09:49,480 --> 00:09:53,440
Speaker 4: think about the fact that seven percent of the twenty

177
00:09:53,440 --> 00:09:58,320
Speaker 4: four million enrollees have annual income above four hundred percent

178
00:09:58,400 --> 00:10:03,400
Speaker 4: of the poverty level, it's not an insignificant number of people,

179
00:10:03,480 --> 00:10:09,000
Speaker 4: but it's enough where you can see the Democrats coming

180
00:10:09,000 --> 00:10:11,520
Speaker 4: on board. Now. I think the HSA piece will be

181
00:10:12,920 --> 00:10:15,560
Speaker 4: a big question mark, as they've long opposed it, but

182
00:10:15,679 --> 00:10:18,480
Speaker 4: I think we'll need to see the details to get

183
00:10:18,480 --> 00:10:21,000
Speaker 4: a better sense of that. The bigger question will be

184
00:10:21,600 --> 00:10:24,640
Speaker 4: on the lower end of the income scale. We're getting

185
00:10:24,760 --> 00:10:29,720
Speaker 4: rid of the zero dollar premium option. What is that amount,

186
00:10:29,880 --> 00:10:33,880
Speaker 4: Is it going back to where it was before the change,

187
00:10:34,040 --> 00:10:36,839
Speaker 4: is it somewhere in between? And so I think that'll

188
00:10:36,840 --> 00:10:41,199
Speaker 4: be a question. But you know, it is trending in

189
00:10:41,280 --> 00:10:43,760
Speaker 4: the right direction. And this was always a big question

190
00:10:43,920 --> 00:10:47,800
Speaker 4: for us. I think we were largely skeptical of an

191
00:10:47,840 --> 00:10:53,560
Speaker 4: extension number one, but believe that if Trump pivoted in

192
00:10:53,640 --> 00:10:57,120
Speaker 4: response to what we saw on the off your elections

193
00:10:57,160 --> 00:11:00,959
Speaker 4: and just in overall pulling over the past several months,

194
00:11:01,000 --> 00:11:05,720
Speaker 4: not just general pulling, the specific pulling from Republican polsters

195
00:11:05,760 --> 00:11:13,720
Speaker 4: that Trump and Republican supporters favor and extension, if Trump

196
00:11:13,720 --> 00:11:15,520
Speaker 4: bought into that, if the White House bought into that,

197
00:11:15,600 --> 00:11:18,280
Speaker 4: and believe that there were some significant downsides to you

198
00:11:18,360 --> 00:11:22,040
Speaker 4: next year's midterms, that this would pretty much steal the deal.

199
00:11:22,120 --> 00:11:25,720
Speaker 4: But again, whatever is going to be proposed has to

200
00:11:25,760 --> 00:11:29,360
Speaker 4: be something that's not necessarily including any poison pills that

201
00:11:29,400 --> 00:11:34,680
Speaker 4: Democrats might not support or it just would find unfavorable.

202
00:11:34,760 --> 00:11:36,760
Speaker 3: Great, you know, so I'm going to ask one more question,

203
00:11:36,800 --> 00:11:39,120
Speaker 3: but again, if you have any questions for Dwayne, feel

204
00:11:39,160 --> 00:11:41,160
Speaker 3: free to put those in the chat. But my last

205
00:11:41,240 --> 00:11:43,120
Speaker 3: question is, and I think that you've already alluded to.

206
00:11:43,120 --> 00:11:45,480
Speaker 3: This is that if President Trump comes out with this

207
00:11:45,600 --> 00:11:48,360
Speaker 3: plan and says this is his plan, he'll be able

208
00:11:48,400 --> 00:11:51,160
Speaker 3: to pretty much push those House Republicans who are against

209
00:11:51,160 --> 00:11:53,480
Speaker 3: any idea of a subsidy increase to come on board.

210
00:11:53,800 --> 00:11:54,400
Speaker 2: Is that your fai?

211
00:11:55,320 --> 00:12:01,119
Speaker 4: You know, he's he still has pretty significant, say the caucus,

212
00:12:01,920 --> 00:12:05,040
Speaker 4: and I tend to think that it would be enough

213
00:12:05,080 --> 00:12:09,120
Speaker 4: to sway enough of the Senate members center Republicans to

214
00:12:09,160 --> 00:12:12,880
Speaker 4: get something to the sixty boat threshold and would then

215
00:12:12,960 --> 00:12:15,679
Speaker 4: create additional momentum to get something through the House. So

216
00:12:16,400 --> 00:12:19,240
Speaker 4: you know, I've always believed that a bill could pass

217
00:12:19,320 --> 00:12:22,920
Speaker 4: the House. It just wouldn't necessarily have a majority support

218
00:12:22,920 --> 00:12:26,000
Speaker 4: of the Republican caucus. And I think if he does

219
00:12:26,080 --> 00:12:31,160
Speaker 4: jump on board and Democrats are there, excuse me, then

220
00:12:31,559 --> 00:12:35,600
Speaker 4: this is something that can get there. So I would

221
00:12:35,640 --> 00:12:40,840
Speaker 4: be more optimistic that it does happen. But again, let's

222
00:12:40,840 --> 00:12:43,240
Speaker 4: see what happens in terms of the details. But I

223
00:12:43,280 --> 00:12:46,560
Speaker 4: always say it's interesting. I was looking ahead to that

224
00:12:46,600 --> 00:12:49,520
Speaker 4: big question of will there be a shutdown in January

225
00:12:51,400 --> 00:12:54,640
Speaker 4: and if this was not resolved, could this be one

226
00:12:54,679 --> 00:12:57,640
Speaker 4: of those areas I think you and I had been

227
00:12:57,679 --> 00:13:02,000
Speaker 4: skeptical that there would be a shutdown after these Democrats

228
00:13:02,000 --> 00:13:05,160
Speaker 4: in the Senate switch sides that they wouldn't then switch

229
00:13:05,200 --> 00:13:09,679
Speaker 4: sides again to not support another cr This would pretty

230
00:13:09,720 --> 00:13:14,760
Speaker 4: much make the likelihood borrowing something else happened happening, make

231
00:13:14,840 --> 00:13:17,280
Speaker 4: the likely to that pretty much close to zero.

232
00:13:17,960 --> 00:13:21,280
Speaker 3: Yeah, you know, I'm still skeptical as well. But full disclosure,

233
00:13:21,320 --> 00:13:23,160
Speaker 3: I got it wrong and I owed a lot of people.

234
00:13:23,240 --> 00:13:26,680
Speaker 3: Actually five folks came in for Bloomberg coffees that I

235
00:13:26,720 --> 00:13:30,600
Speaker 3: had to give because of the shutdown. But yes, that's it,

236
00:13:30,679 --> 00:13:33,319
Speaker 3: the best coffee for the price point. So Dwayne, thank

237
00:13:33,320 --> 00:13:36,240
Speaker 3: you very much for the rest of you. Happy Thanksgiving

238
00:13:36,240 --> 00:13:39,200
Speaker 3: this week, you know, to our American followers, to our

239
00:13:39,200 --> 00:13:43,040
Speaker 3: non American followers, Happy Thanksgiving to you as well. President

240
00:13:43,080 --> 00:13:45,600
Speaker 3: Trump is scheduled to go to mar A Lago tomorrow afternoon,

241
00:13:45,679 --> 00:13:48,720
Speaker 3: so if you're thinking of like timing of other actions,

242
00:13:49,000 --> 00:13:53,720
Speaker 3: tomorrow afternoon, he has the turkey pardoning. According to the poll,

243
00:13:53,760 --> 00:13:56,840
Speaker 3: it's Gobble and Waddle this year are the two turkeys

244
00:13:56,840 --> 00:13:59,280
Speaker 3: that will be pardoned. Fun factor actually staying the night

245
00:13:59,320 --> 00:14:01,120
Speaker 3: at the Willard Hotel, how like they always do. So

246
00:14:01,840 --> 00:14:03,400
Speaker 3: with that, I want to say thank you again. We

247
00:14:03,480 --> 00:14:06,280
Speaker 3: really appreciate it, and have a wonderful week and we'll

248
00:14:06,400 --> 00:14:07,079
Speaker 3: talk again soon.

249
00:14:09,720 --> 00:14:13,600
Speaker 1: Our thanks to Nathan Deed, Bloomberg Intelligence Senior policy analyst,

250
00:14:13,679 --> 00:14:17,360
Speaker 1: bringing you the latest installment of his weekly Washington Policy Pulse.

251
00:14:17,760 --> 00:14:20,560
Speaker 1: For more from BI or to join this call live

252
00:14:20,760 --> 00:14:24,440
Speaker 1: each week, you can email Nathan at ndan at Bloomberg

253
00:14:24,520 --> 00:14:27,760
Speaker 1: dot net. That's n d e a n at Bloomberg

254
00:14:27,800 --> 00:14:30,440
Speaker 1: dot net and come back to the podcast later today

255
00:14:30,720 --> 00:14:32,720
Speaker 1: for the latest edition of Balance of Power.