1 00:00:01,600 --> 00:00:06,160 Speaker 1: Now from our nation's capital. This is Bloomberg Sound On. 2 00:00:07,360 --> 00:00:11,080 Speaker 1: When we think about President by not unlike the stock market, 3 00:00:11,240 --> 00:00:14,000 Speaker 1: his stock is down. So much of the first year 4 00:00:14,120 --> 00:00:16,280 Speaker 1: was about COVID in the economy of the second year 5 00:00:16,320 --> 00:00:19,520 Speaker 1: will have to touch on some foreign policy. Bloomberg Sound 6 00:00:19,560 --> 00:00:24,080 Speaker 1: On Politics, policy and perspective from DC's top names. We're 7 00:00:24,120 --> 00:00:26,680 Speaker 1: coming quickly to a crunch point where we're gonna know 8 00:00:27,000 --> 00:00:30,240 Speaker 1: either way what Russia pensions are paid. A roadblock in 9 00:00:30,280 --> 00:00:32,120 Speaker 1: the Senate. I think we're ready to get out of 10 00:00:32,159 --> 00:00:36,879 Speaker 1: this vortex and beat them legislation happens. Bloomberg Sound On 11 00:00:37,080 --> 00:00:42,720 Speaker 1: with Joe Matthew on Bloomberg Radio. Russia says we're whipping 12 00:00:42,800 --> 00:00:46,120 Speaker 1: up hysteria. President Biden says the US is ready no 13 00:00:46,159 --> 00:00:50,159 Speaker 1: matter what happens with Ukraine, and lawmakers are returning to 14 00:00:50,200 --> 00:00:52,599 Speaker 1: Washington in the middle of all this with sanctions and 15 00:00:52,680 --> 00:00:55,600 Speaker 1: spending on their minds. Welcome to a brand new week 16 00:00:55,600 --> 00:00:57,880 Speaker 1: in the fastest hour in politics, with a lot to cover. 17 00:00:57,920 --> 00:01:01,160 Speaker 1: This evening, we'll discuss the standoff with Russia with Congressman 18 00:01:01,200 --> 00:01:05,320 Speaker 1: Brendan Boyle, Democrat from Pennsylvania, member the Congressional Ukrainian Caucus, 19 00:01:05,959 --> 00:01:08,400 Speaker 1: and later as Congress faces a long to do list 20 00:01:08,440 --> 00:01:11,120 Speaker 1: members getting back in the bubble. Today, an actual budget 21 00:01:11,400 --> 00:01:14,399 Speaker 1: seems possible, and we're told by partisan sanctions bill could 22 00:01:14,400 --> 00:01:17,880 Speaker 1: soon emerge as well. We'll talk legislation with Mark Goldwine 23 00:01:17,880 --> 00:01:20,800 Speaker 1: at the Committee for a Responsible Budget and the panel. 24 00:01:20,880 --> 00:01:24,840 Speaker 1: Bloomberg Politics contributors Jeanie Chanzano and Rick Davis are with 25 00:01:24,920 --> 00:01:28,240 Speaker 1: us for the hour of just four words from President 26 00:01:28,240 --> 00:01:30,800 Speaker 1: Biden on the standoff with Ukraine's at a four words, 27 00:01:31,400 --> 00:01:35,080 Speaker 1: no matter what happens, the US is ready. He made 28 00:01:35,080 --> 00:01:38,760 Speaker 1: the comment to White House Pool reporters, essentially writing the 29 00:01:38,760 --> 00:01:42,199 Speaker 1: newspaper headline today they were rushing ushered into the Oval 30 00:01:42,280 --> 00:01:45,240 Speaker 1: during a bilateral meeting with the a mirror of Katar. 31 00:01:45,319 --> 00:01:49,840 Speaker 1: Here's President Biden, but with Russia's continuing his build up. 32 00:01:49,840 --> 00:01:55,200 Speaker 1: If it's fortunes around Ukraine, we are ready, no matter 33 00:01:55,280 --> 00:02:01,000 Speaker 1: what happens. No matter what happens, they following reports you 34 00:02:01,120 --> 00:02:03,680 Speaker 1: likely heard on Bloomberg, Vladimir Putin adding even more troops 35 00:02:03,680 --> 00:02:06,160 Speaker 1: along the Ukrainian border. And it comes on the same 36 00:02:06,240 --> 00:02:10,120 Speaker 1: day the standoff was aired before the United Nations Security Council. Boy, 37 00:02:10,280 --> 00:02:14,840 Speaker 1: no love lost between our two sides. Russia accusing the US, 38 00:02:14,880 --> 00:02:18,080 Speaker 1: as I mentioned, whipping up hysteria, the US accusing Russia 39 00:02:18,120 --> 00:02:21,880 Speaker 1: of fabricating a pretext for an attack, and none that's changed, 40 00:02:22,840 --> 00:02:24,760 Speaker 1: and we get to talk about this now with Congressmen 41 00:02:24,760 --> 00:02:29,560 Speaker 1: Brendan Boyle, Democrat from Pennsylvania thirteenth District, think northeastern Philly 42 00:02:29,800 --> 00:02:33,720 Speaker 1: and a member of the Congressional Ukraine Caucus. Congressman, thank 43 00:02:33,720 --> 00:02:35,560 Speaker 1: you for being here. I've been asking the same question 44 00:02:35,560 --> 00:02:38,959 Speaker 1: today that I was asking last Monday. Are we closer 45 00:02:39,080 --> 00:02:43,960 Speaker 1: or further away from war than we were before the weekend? Well, 46 00:02:43,960 --> 00:02:46,280 Speaker 1: good to be back on the program. One thing to 47 00:02:46,360 --> 00:02:48,840 Speaker 1: keep in mind is that Russia has been at war 48 00:02:48,880 --> 00:02:53,399 Speaker 1: in Ukraine for eight years. So while for many Americans 49 00:02:53,400 --> 00:02:56,720 Speaker 1: this may seem like a new issue, in fact it 50 00:02:56,880 --> 00:03:01,160 Speaker 1: isn't um whether it was the go over of Crimea 51 00:03:01,440 --> 00:03:04,840 Speaker 1: or the fighting and don Boss. The reality is that 52 00:03:04,880 --> 00:03:08,120 Speaker 1: Putin has had his eyes on Ukraine for for quite 53 00:03:08,120 --> 00:03:11,360 Speaker 1: some period of time. Prutin is an individual who once 54 00:03:11,440 --> 00:03:17,200 Speaker 1: famously said that the greatest geopolitical catastrophe in his lifetime 55 00:03:17,400 --> 00:03:20,720 Speaker 1: was the collapse of the Soviet Union. So that is 56 00:03:20,840 --> 00:03:24,320 Speaker 1: his worldview, and he very much wants to put Russia 57 00:03:24,400 --> 00:03:29,559 Speaker 1: back together as an empire and as a as a superpower. 58 00:03:29,639 --> 00:03:32,400 Speaker 1: Why wait then to sanction Russia? And I know this 59 00:03:32,440 --> 00:03:36,080 Speaker 1: is an ongoing conversation. Ukraine thinks an immediate round would 60 00:03:36,080 --> 00:03:38,240 Speaker 1: be smart. I know that the deal they're talking about 61 00:03:38,280 --> 00:03:41,920 Speaker 1: with the Menendez and Rish this looks like we might 62 00:03:41,960 --> 00:03:44,400 Speaker 1: have a bipartisan sanctions bill coming out of the Senate 63 00:03:44,600 --> 00:03:47,280 Speaker 1: would have kind of a two pronged The most severe 64 00:03:47,360 --> 00:03:50,320 Speaker 1: would be triggered by an actual invasion, but there'd be sanctions. Now. 65 00:03:50,360 --> 00:03:53,440 Speaker 1: What do you think? You know, I'm open minded on 66 00:03:53,480 --> 00:03:57,119 Speaker 1: this score. I want to do, obviously whatever would give 67 00:03:57,200 --> 00:04:00,000 Speaker 1: us the most leverage and dealing with the Russians. There 68 00:04:00,000 --> 00:04:02,160 Speaker 1: is some concern that if you immediately pushed forward with 69 00:04:02,240 --> 00:04:06,560 Speaker 1: sanctions now, then for d and Reprutin, he might say, well, 70 00:04:06,760 --> 00:04:08,920 Speaker 1: this has already baked into the cake. I might as 71 00:04:08,960 --> 00:04:12,200 Speaker 1: well move forward in Ukraine anyway. So I really actually 72 00:04:12,240 --> 00:04:15,360 Speaker 1: can see it from from both sides. Um. Certainly, if 73 00:04:15,360 --> 00:04:17,560 Speaker 1: we do move forward with sanctions, I would want some 74 00:04:17,640 --> 00:04:22,760 Speaker 1: sort of snapback provision. Um, you know, based on the 75 00:04:22,800 --> 00:04:28,080 Speaker 1: behavior of the Russian ruler. Interesting to see this meeting 76 00:04:28,160 --> 00:04:30,320 Speaker 1: today in which President Biden was speaking. We just played 77 00:04:30,360 --> 00:04:34,080 Speaker 1: the sound from this meeting with the mirror of Katar. 78 00:04:34,160 --> 00:04:37,760 Speaker 1: The President says he's expanding the alliance with that country 79 00:04:37,839 --> 00:04:40,359 Speaker 1: as he met today at the White House, shoring up 80 00:04:40,440 --> 00:04:43,760 Speaker 1: energy supplies to Europe, diplomacy with the Taliban. But this 81 00:04:43,800 --> 00:04:47,640 Speaker 1: comes down to essentially providing gas or helping with with 82 00:04:47,720 --> 00:04:49,640 Speaker 1: providing gas to Europe. Is that going to help us 83 00:04:49,680 --> 00:04:54,320 Speaker 1: get around this? Well, you know, I'm very concerned at 84 00:04:54,320 --> 00:04:58,279 Speaker 1: this situation that Germany has put itself in um with 85 00:04:58,360 --> 00:05:01,920 Speaker 1: respect to its energy need. Obviously, Angla Merkel, who was 86 00:05:02,040 --> 00:05:06,000 Speaker 1: really a stalwart when it came to protecting the West 87 00:05:06,480 --> 00:05:09,880 Speaker 1: and protecting democracy, she made the view though to shut 88 00:05:09,920 --> 00:05:13,760 Speaker 1: down all of their nuclear plants UM, which I think 89 00:05:13,760 --> 00:05:18,719 Speaker 1: in retrospect looks questionable, UM concerning, you know, considering the 90 00:05:18,760 --> 00:05:21,240 Speaker 1: fact that they are now so vulnerable when it comes 91 00:05:21,279 --> 00:05:25,760 Speaker 1: to energy. UM. I'm someone who has voiced real concerns 92 00:05:25,800 --> 00:05:29,000 Speaker 1: about Nordis dream to you mentioned I remember the Ukrainian Caucus. 93 00:05:29,279 --> 00:05:31,919 Speaker 1: I'm also a delegate to the NATO Parliamentary Assembly and 94 00:05:31,960 --> 00:05:35,719 Speaker 1: I helped write an important policy paper that expressed the 95 00:05:35,800 --> 00:05:40,440 Speaker 1: views of NATO Parliamentary Assembly to express our our concerns 96 00:05:40,480 --> 00:05:44,920 Speaker 1: about Nordstream too. So UM moving forward to the extent 97 00:05:45,040 --> 00:05:48,480 Speaker 1: that we in the United Skate States, UM can help 98 00:05:48,560 --> 00:05:53,839 Speaker 1: our European allies become energy independent of Russia. I think 99 00:05:53,880 --> 00:05:56,640 Speaker 1: that is an our interest in there. She may change 100 00:05:56,640 --> 00:05:59,280 Speaker 1: some views on this. Congressman, will the outcome in Ukraine 101 00:05:59,320 --> 00:06:05,440 Speaker 1: defined it in Biden's second year in office? Well, I 102 00:06:05,440 --> 00:06:07,200 Speaker 1: I think it really depends on whether or not you're 103 00:06:07,200 --> 00:06:11,240 Speaker 1: looking at it in the short term or the long term. Um. 104 00:06:11,279 --> 00:06:14,400 Speaker 1: You know, the reality is most voters tend to be 105 00:06:14,520 --> 00:06:19,080 Speaker 1: focused on domestic issues. UM. Certainly when I go around 106 00:06:19,200 --> 00:06:22,280 Speaker 1: my district that that tends to be the case. You know, 107 00:06:22,400 --> 00:06:25,080 Speaker 1: if someone is a member of the Asper group, then 108 00:06:25,200 --> 00:06:27,840 Speaker 1: then that's probably a little bit um a little bit different. 109 00:06:27,920 --> 00:06:30,599 Speaker 1: And then even then you're just talking about the issue 110 00:06:30,680 --> 00:06:34,760 Speaker 1: that relate um to that specific the Aspers. So in reality, 111 00:06:34,960 --> 00:06:38,680 Speaker 1: I would expect, while this issue is of incredible importance 112 00:06:38,720 --> 00:06:41,320 Speaker 1: to the United States and to the world, I do 113 00:06:41,480 --> 00:06:43,800 Speaker 1: tend to think that come this September, in October, it 114 00:06:43,880 --> 00:06:48,000 Speaker 1: will be the domestic issues that really drive the election. Well, 115 00:06:48,040 --> 00:06:49,640 Speaker 1: let's get into some of those. The House and Senate 116 00:06:49,680 --> 00:06:52,039 Speaker 1: getting back to business this week, of course, wellcome back 117 00:06:52,040 --> 00:06:55,159 Speaker 1: congressman as a member of the Budget Committee. Uh, there's 118 00:06:55,240 --> 00:06:57,400 Speaker 1: actually some some pretty big business to take care of, 119 00:06:57,480 --> 00:07:00,040 Speaker 1: iss crafting a budget and omnibus. Getting an omnibus of 120 00:07:00,120 --> 00:07:02,560 Speaker 1: the most pressing issue in the House right now. Do 121 00:07:02,640 --> 00:07:05,000 Speaker 1: you plan to buy some time with a continuing resolution? 122 00:07:06,200 --> 00:07:09,680 Speaker 1: I do not want one more continuing resolution. I think 123 00:07:09,680 --> 00:07:14,000 Speaker 1: we have a great opportunity here on a bipartisan budget. 124 00:07:14,080 --> 00:07:18,560 Speaker 1: My understanding is we're about of the way there. Um. 125 00:07:18,600 --> 00:07:20,400 Speaker 1: There are a number of things in this budget, by 126 00:07:20,440 --> 00:07:24,080 Speaker 1: the way, that we're offered by Republican members, So I 127 00:07:24,120 --> 00:07:27,320 Speaker 1: am confident that come mid February our CR will expire 128 00:07:27,440 --> 00:07:29,440 Speaker 1: in a in a couple of weeks. I do not 129 00:07:29,560 --> 00:07:32,600 Speaker 1: want another CR, which which simply means, I mean it's 130 00:07:33,040 --> 00:07:39,480 Speaker 1: awful DC speak for essentially the last Trump budget continuing Um, 131 00:07:39,600 --> 00:07:41,880 Speaker 1: I I think that's a mistake. We need to have 132 00:07:42,240 --> 00:07:46,000 Speaker 1: finally a new budget for this fiscal year. It can 133 00:07:46,040 --> 00:07:48,640 Speaker 1: be bipartisan and good news is I do think we're 134 00:07:48,640 --> 00:07:50,760 Speaker 1: close to achieving that. Where's the work left? Is it 135 00:07:50,840 --> 00:07:54,640 Speaker 1: defense spending or non defense? Well, and then of course 136 00:07:55,280 --> 00:07:59,120 Speaker 1: my oversimplifying, UM, oh, I'm sorry the work done in 137 00:07:59,240 --> 00:08:02,000 Speaker 1: terms of of in actually finding a deal. Yeah, is 138 00:08:02,040 --> 00:08:05,160 Speaker 1: it defense spending or not? Simply more complicated than that. 139 00:08:05,600 --> 00:08:08,000 Speaker 1: It is. It's more complicated than that. And actually there's 140 00:08:08,000 --> 00:08:11,600 Speaker 1: a lot of, i would say, relatively little things in 141 00:08:11,640 --> 00:08:15,800 Speaker 1: the grand scheme. There's also some disagreements between the Senate 142 00:08:15,880 --> 00:08:19,720 Speaker 1: side and the House side that aren't necessarily partisan disagreements. 143 00:08:19,720 --> 00:08:21,920 Speaker 1: But I will say again, I'm quite confident that we 144 00:08:21,960 --> 00:08:24,440 Speaker 1: will get there um and that we will pass it 145 00:08:24,480 --> 00:08:27,000 Speaker 1: by partisan budget. I know Build Back Better is still 146 00:08:27,040 --> 00:08:30,640 Speaker 1: at least in the air, or at least portions of it, 147 00:08:30,680 --> 00:08:33,320 Speaker 1: and I wonder if if that might be the future vehicle, 148 00:08:33,360 --> 00:08:35,520 Speaker 1: if that omnibus bill might be a vehicle. Some of 149 00:08:35,520 --> 00:08:38,480 Speaker 1: the components from Build Back Better say, uh, pre k 150 00:08:39,240 --> 00:08:42,439 Speaker 1: education something that was popular on both sides of the aisle. 151 00:08:42,520 --> 00:08:45,400 Speaker 1: Is there a way to get something left, something policy 152 00:08:45,480 --> 00:08:48,600 Speaker 1: driven from from Joe Biden's first year into this piece 153 00:08:48,600 --> 00:08:53,000 Speaker 1: of legislation. Uh So, I do believe we will see 154 00:08:53,160 --> 00:08:57,560 Speaker 1: a slimmed down Build Back Better Act, one that, let's 155 00:08:57,600 --> 00:09:01,679 Speaker 1: face it, that Senator Joe Mansion can agree with, and 156 00:09:01,720 --> 00:09:03,520 Speaker 1: they will pass that out of the Senate. I think 157 00:09:03,559 --> 00:09:06,160 Speaker 1: it will be a separate piece of legislation though, then 158 00:09:06,200 --> 00:09:09,480 Speaker 1: the budget because the budget. You know, the hope is 159 00:09:09,559 --> 00:09:12,720 Speaker 1: that we can make a bipartisan um. I really doubt, 160 00:09:12,800 --> 00:09:18,360 Speaker 1: unfortunately that the Builback Better Act will have bipartisans Yeah, 161 00:09:18,600 --> 00:09:22,319 Speaker 1: and also so many of the individual items that are 162 00:09:22,320 --> 00:09:26,400 Speaker 1: in there have broad support among the American people, including 163 00:09:26,440 --> 00:09:30,040 Speaker 1: a sizable number of Republicans. But the political reality is 164 00:09:30,120 --> 00:09:32,920 Speaker 1: there just has not been any Republican support word on 165 00:09:33,000 --> 00:09:36,439 Speaker 1: Capitol Hill. How about you seek a congressman. I'm understanding 166 00:09:36,440 --> 00:09:38,640 Speaker 1: now that Republicans are pushing against that in the House. 167 00:09:38,679 --> 00:09:41,080 Speaker 1: This has past the Senate. Of course, this Competitiveness Bill, 168 00:09:41,160 --> 00:09:43,640 Speaker 1: whatever we want to call it, that includes the Chip Act. 169 00:09:43,679 --> 00:09:45,760 Speaker 1: Everyone agrees that we need to fix this chip problem. 170 00:09:45,760 --> 00:09:49,600 Speaker 1: How come this got so political? Well, the House will 171 00:09:49,920 --> 00:09:52,080 Speaker 1: be voting on its own version of the Chips Act 172 00:09:52,320 --> 00:09:55,760 Speaker 1: literally this week. I expect final passage on Friday. I 173 00:09:56,040 --> 00:09:59,559 Speaker 1: think people recognize, and I speak to folks from the 174 00:09:59,559 --> 00:10:03,920 Speaker 1: private sector, from industry who are not necessarily democratic, we're Republicans, 175 00:10:04,280 --> 00:10:07,920 Speaker 1: and talk about the enormous chip shortage. We had one 176 00:10:08,000 --> 00:10:10,760 Speaker 1: to begin with anyway, but then what happened is really 177 00:10:10,760 --> 00:10:13,440 Speaker 1: this is one of the ways in which COVID has 178 00:10:13,559 --> 00:10:18,440 Speaker 1: distorted our economy. It's just grove up demand for these 179 00:10:18,520 --> 00:10:21,080 Speaker 1: chips that was already high, but it's just put it 180 00:10:21,120 --> 00:10:24,120 Speaker 1: on steroids. So UM I think though that most of 181 00:10:24,120 --> 00:10:28,160 Speaker 1: my colleagues recognized this is an important priority to maintain 182 00:10:28,200 --> 00:10:31,560 Speaker 1: the competitiveness of the United States and ultimately we need 183 00:10:31,600 --> 00:10:33,160 Speaker 1: to get it done. Could you bring any of that 184 00:10:33,200 --> 00:10:35,520 Speaker 1: money and as some some investment, maybe a deal with 185 00:10:35,600 --> 00:10:37,760 Speaker 1: a chip maker in Pennsylvania. Is that something you might 186 00:10:37,800 --> 00:10:40,960 Speaker 1: have in mind. That is something I always have in mind. 187 00:10:41,600 --> 00:10:45,480 Speaker 1: I my state is open for business, especially you know, 188 00:10:45,559 --> 00:10:49,160 Speaker 1: my my part of the state. UM I would point 189 00:10:49,160 --> 00:10:52,120 Speaker 1: out we're very well situated. We are the Keystone State 190 00:10:52,440 --> 00:10:57,560 Speaker 1: figuratively and literally. So if business wants UH to set 191 00:10:57,600 --> 00:10:59,680 Speaker 1: up shop in an area where you have a big 192 00:10:59,679 --> 00:11:02,520 Speaker 1: pock it of well educated voters that are close to 193 00:11:02,600 --> 00:11:06,000 Speaker 1: nine and close to I eight, no better spot than 194 00:11:06,360 --> 00:11:07,960 Speaker 1: to put your phone number on the air here. If 195 00:11:08,120 --> 00:11:11,240 Speaker 1: I just wondered, if Intel is investing in Ohio, who 196 00:11:11,280 --> 00:11:13,160 Speaker 1: is going to be investing in Pennsylvania if you want 197 00:11:13,160 --> 00:11:17,160 Speaker 1: to maintain that manufacturing base. Well, you know that is 198 00:11:17,160 --> 00:11:19,920 Speaker 1: an important concern though, And a number of my colleagues 199 00:11:20,000 --> 00:11:24,360 Speaker 1: actually from the tech sector areas of northern California have 200 00:11:24,400 --> 00:11:27,840 Speaker 1: talked about this that you know. Unfortunately, we have a 201 00:11:27,880 --> 00:11:33,040 Speaker 1: few pockets like Silicon Valley, Austin, Texas, a few others 202 00:11:33,080 --> 00:11:35,840 Speaker 1: that have done really well in this new economy, but 203 00:11:35,960 --> 00:11:38,680 Speaker 1: we have to do a better job of diversifying those 204 00:11:38,760 --> 00:11:43,720 Speaker 1: games geographically throughout the country. Pennsylvania, we're on both sides 205 00:11:43,760 --> 00:11:46,880 Speaker 1: of that. You know, the the dynamic economy in the 206 00:11:46,920 --> 00:11:49,600 Speaker 1: Philadelphia area which is very much meds and eds and 207 00:11:49,640 --> 00:11:52,560 Speaker 1: takes advantage of how many colleges and universities we have 208 00:11:52,679 --> 00:11:56,240 Speaker 1: in this area. It's a very different economy here than 209 00:11:56,320 --> 00:12:00,880 Speaker 1: say four hours away in small town Pennsylvania that might 210 00:12:00,960 --> 00:12:02,760 Speaker 1: have been a big factory town that left for a 211 00:12:02,800 --> 00:12:05,320 Speaker 1: long time ago. So in my state we actually feel 212 00:12:05,320 --> 00:12:08,200 Speaker 1: it on both sides. Congressman appreciates spending some time with 213 00:12:08,200 --> 00:12:10,280 Speaker 1: you on a Monday, and we'd like to follow your 214 00:12:10,280 --> 00:12:13,720 Speaker 1: work on the Ukraine Caucus as we get closer God 215 00:12:13,760 --> 00:12:16,360 Speaker 1: willing to a resolution there. Stay with us on Bloomberg. 216 00:12:16,480 --> 00:12:18,680 Speaker 1: Sound on as we assemble the panel next, Jennie and 217 00:12:18,760 --> 00:12:27,200 Speaker 1: Rick are here. I'm Joe Matthew. This is Bloomberg. This 218 00:12:27,720 --> 00:12:32,560 Speaker 1: is Bloomberg. So long with Joe Matthew on Bloomberg Radio. 219 00:12:34,200 --> 00:12:37,840 Speaker 1: The Biden administration will brief senators on the situation in 220 00:12:37,960 --> 00:12:41,000 Speaker 1: Ukraine later this week. They've picked Thursday for the appointment. 221 00:12:41,080 --> 00:12:44,600 Speaker 1: That's following the congressional leadership briefing on all of this 222 00:12:44,679 --> 00:12:47,760 Speaker 1: last week. I do wonder if that coincides with the 223 00:12:47,880 --> 00:12:51,120 Speaker 1: release of sanctions bill. We've certainly heard about it on 224 00:12:51,120 --> 00:12:55,400 Speaker 1: the Sunday Show. Senators Menendez in reech chair ranking member, 225 00:12:55,480 --> 00:12:59,040 Speaker 1: remember Rich, I should say, talking about the chances here 226 00:12:59,080 --> 00:13:02,840 Speaker 1: of getting an actual bipartisan piece of legislation with the 227 00:13:02,920 --> 00:13:05,520 Speaker 1: doses sanctions up front and the heavy duty stuff if 228 00:13:05,600 --> 00:13:09,000 Speaker 1: Russia were across the line and actually invade Ukraine. This 229 00:13:09,040 --> 00:13:11,120 Speaker 1: is where we begin with the panel, and they're both 230 00:13:11,160 --> 00:13:15,160 Speaker 1: with us today. Bloomberg Politics contributors Jeanie Chanzano and Rick Davis. 231 00:13:15,160 --> 00:13:17,080 Speaker 1: Did you see them on Balance of Power earlier? We 232 00:13:17,120 --> 00:13:19,520 Speaker 1: did talk about a little bit of this as we've 233 00:13:19,559 --> 00:13:21,440 Speaker 1: been making our way through the last week on both 234 00:13:21,440 --> 00:13:23,800 Speaker 1: of these programs. It's great to have you both back here. Rick, 235 00:13:23,840 --> 00:13:25,520 Speaker 1: what do you make of that, having spent the time 236 00:13:25,520 --> 00:13:28,000 Speaker 1: you did in the Senate, When you hear about briefings 237 00:13:28,000 --> 00:13:30,920 Speaker 1: not just for leadership but for the the entire membership 238 00:13:31,320 --> 00:13:33,480 Speaker 1: on something like this, is that gonna come with news 239 00:13:33,800 --> 00:13:36,680 Speaker 1: on Thursday that's gonna light the fire? You know, sometimes 240 00:13:36,720 --> 00:13:38,840 Speaker 1: they have news. Sometimes it's just to let the steam 241 00:13:38,880 --> 00:13:41,000 Speaker 1: out of this, you know, members because they get all 242 00:13:41,000 --> 00:13:45,920 Speaker 1: excited exercise, like you know you mentioned members Menendez and 243 00:13:45,920 --> 00:13:47,640 Speaker 1: Reach want to get something done. They want to look 244 00:13:47,640 --> 00:13:49,720 Speaker 1: like they're active. They don't want to sit on their hands, 245 00:13:50,160 --> 00:13:52,320 Speaker 1: and so sometimes it's just that the need to have 246 00:13:52,360 --> 00:13:53,880 Speaker 1: the president come up and say, look, we got this 247 00:13:53,960 --> 00:13:56,480 Speaker 1: guy's here's the plan we're gonna have. Let's not do 248 00:13:56,520 --> 00:13:58,520 Speaker 1: anything to get in the way the plan. You know, here, 249 00:13:58,600 --> 00:14:02,079 Speaker 1: here's what we're seeing on the ground. And and and typically, 250 00:14:02,200 --> 00:14:03,960 Speaker 1: I mean then all the members who can't keep a 251 00:14:04,000 --> 00:14:06,600 Speaker 1: secret spill out and start talking a reporter. So uh, 252 00:14:06,760 --> 00:14:10,280 Speaker 1: that's usually when the news occurs, right Tuh the four 253 00:14:10,320 --> 00:14:14,120 Speaker 1: words that that jumped out here, No matter what happens, Genie, 254 00:14:14,160 --> 00:14:17,199 Speaker 1: the president today in the Oval Office, as we know 255 00:14:17,280 --> 00:14:19,840 Speaker 1: that Vladimir Putin is adding more troops along the border 256 00:14:19,880 --> 00:14:22,080 Speaker 1: with Ukraine. This doesn't sound like like it's cooling off. 257 00:14:22,920 --> 00:14:25,720 Speaker 1: It doesn't. And it's a little bit surprising given we 258 00:14:25,760 --> 00:14:28,560 Speaker 1: are so close to the kickoff of the Olympics. UM. 259 00:14:28,640 --> 00:14:31,040 Speaker 1: And you know, you heard this back and forth as 260 00:14:31,080 --> 00:14:33,360 Speaker 1: you were reporting about, you know, at the U N. 261 00:14:33,400 --> 00:14:36,720 Speaker 1: Security Council, between these arguments that we are being hysterical, 262 00:14:36,800 --> 00:14:39,800 Speaker 1: the West is being hysterical, versus the reality, which is 263 00:14:39,840 --> 00:14:43,040 Speaker 1: they continue to amass troops on the border. UM. And 264 00:14:43,080 --> 00:14:45,360 Speaker 1: you continue to hear experts say that, you know, it's 265 00:14:45,480 --> 00:14:49,160 Speaker 1: unlikely that they would go into Ukraine right before the 266 00:14:49,240 --> 00:14:53,560 Speaker 1: Olympics and sort of you know, take the focus off 267 00:14:53,640 --> 00:14:56,520 Speaker 1: of of President g On the other hand, what then 268 00:14:56,760 --> 00:14:59,800 Speaker 1: is this build up about? So I think this briefing 269 00:14:59,800 --> 00:15:02,960 Speaker 1: on Thursday is going to be critical for senators and 270 00:15:03,040 --> 00:15:05,560 Speaker 1: members of Congress to get information as to what the 271 00:15:05,600 --> 00:15:09,040 Speaker 1: administration knows and what is leading it to say that 272 00:15:09,080 --> 00:15:12,680 Speaker 1: this is, you know, not hysteria, because let's not forget 273 00:15:12,720 --> 00:15:15,440 Speaker 1: we're also hearing some of that from the Ukrainian President, 274 00:15:15,560 --> 00:15:19,400 Speaker 1: some Ukrainian officials themselves, and so I think senators and 275 00:15:19,440 --> 00:15:21,840 Speaker 1: congressmen and women in particular are going to want to 276 00:15:21,840 --> 00:15:23,800 Speaker 1: get some answers to some of those questions as to 277 00:15:23,920 --> 00:15:27,440 Speaker 1: what the the administration knows. But Rick, is this the 278 00:15:27,440 --> 00:15:31,360 Speaker 1: best time Vladimir Putin's had since you know, s like, 279 00:15:31,480 --> 00:15:33,480 Speaker 1: is he is he in the easy chair at night 280 00:15:33,480 --> 00:15:36,440 Speaker 1: watching all the American newscast eat and popcorn laughing here? 281 00:15:36,520 --> 00:15:38,960 Speaker 1: Or do I have it wrong? You know, I'm not 282 00:15:39,080 --> 00:15:41,720 Speaker 1: exactly sure. I think he's put himself in a position 283 00:15:41,920 --> 00:15:44,120 Speaker 1: to do what he wants to try to do, which 284 00:15:44,200 --> 00:15:48,200 Speaker 1: is basically express you know, into into giving him his way. 285 00:15:48,240 --> 00:15:52,000 Speaker 1: But like, a lot can go wrong for him, both domestically. Um, 286 00:15:52,040 --> 00:15:54,680 Speaker 1: you know, he's he's assuming he can control his domestic 287 00:15:54,720 --> 00:15:57,920 Speaker 1: political situation and some of those sanctions could result in 288 00:15:58,040 --> 00:16:01,080 Speaker 1: problems for him. But also you know, he's just had 289 00:16:01,120 --> 00:16:04,600 Speaker 1: a now square off in a UN Security Council, so 290 00:16:04,640 --> 00:16:06,720 Speaker 1: it's starting to starting to make him look like he's 291 00:16:06,720 --> 00:16:09,880 Speaker 1: outside the mainstream. So I'm not sure it's a zero 292 00:16:09,920 --> 00:16:11,640 Speaker 1: sum game for him. I don't think he wins no 293 00:16:11,640 --> 00:16:15,240 Speaker 1: matter what. What did that Security Council conversation mean for you, Genie? 294 00:16:15,280 --> 00:16:18,000 Speaker 1: We've heard the hysteria line before, but to see people 295 00:16:18,040 --> 00:16:21,120 Speaker 1: getting kind of upset about it was new. It was 296 00:16:21,400 --> 00:16:24,600 Speaker 1: and I think it just underscores the reality that this 297 00:16:24,720 --> 00:16:29,920 Speaker 1: continued drownbeat about hysteria is countered by the reality of 298 00:16:29,960 --> 00:16:33,240 Speaker 1: the troop movements that are going forward. And you know, 299 00:16:33,440 --> 00:16:36,160 Speaker 1: let's not forget this is not just again about Russia. 300 00:16:36,280 --> 00:16:40,840 Speaker 1: We also have Taiwan and China. We also have testing 301 00:16:41,000 --> 00:16:45,160 Speaker 1: of missiles by North Korea going on. Yeah, so you know, 302 00:16:45,600 --> 00:16:48,480 Speaker 1: you know the world is watching. And you know, the 303 00:16:48,520 --> 00:16:51,920 Speaker 1: Biden and the administration, having learned from what happened in 304 00:16:51,960 --> 00:16:56,080 Speaker 1: Crimea in when the Obama administration was accused of not 305 00:16:56,240 --> 00:16:59,800 Speaker 1: preparing the world enough for what was happening, has now 306 00:17:00,000 --> 00:17:02,040 Speaker 1: taken a patron that and it's saying, look at this 307 00:17:02,120 --> 00:17:04,640 Speaker 1: is what we are seeing, and this is the reality 308 00:17:04,640 --> 00:17:06,840 Speaker 1: on the ground. They can call us hysterical all we want, 309 00:17:06,880 --> 00:17:09,480 Speaker 1: but this is what the data shows. We learned from 310 00:17:09,560 --> 00:17:12,600 Speaker 1: Charlie Pellett at the beginning of the hour Rick that 311 00:17:12,680 --> 00:17:14,840 Speaker 1: the President is going to be going to Japan in 312 00:17:14,960 --> 00:17:18,040 Speaker 1: late May after what Jinnie just told us. And we 313 00:17:18,080 --> 00:17:21,080 Speaker 1: saw more missile tests, I guess, in the month of 314 00:17:21,160 --> 00:17:25,439 Speaker 1: January than we have seen over the last year. Um, 315 00:17:25,520 --> 00:17:27,600 Speaker 1: what do you make of that move to show up 316 00:17:27,680 --> 00:17:30,920 Speaker 1: in Asia with that timing. Yeah, these missile tests by 317 00:17:31,040 --> 00:17:35,399 Speaker 1: the North Koreans are starting to cause problems for this 318 00:17:35,440 --> 00:17:39,080 Speaker 1: administration in in Asia. But we also must remember that 319 00:17:39,200 --> 00:17:43,399 Speaker 1: Japan is our longest and and and strongest ally in 320 00:17:43,480 --> 00:17:46,480 Speaker 1: that region in anything that might go on with trade 321 00:17:46,680 --> 00:17:52,159 Speaker 1: or politics or military against China. So it's it's in 322 00:17:52,160 --> 00:17:55,360 Speaker 1: a really important place. It doesn't surprise me at all 323 00:17:55,400 --> 00:17:57,680 Speaker 1: that he would pick Japan to be the first trip 324 00:17:58,040 --> 00:18:01,760 Speaker 1: overseas this year, and with Rama Manuel now the new 325 00:18:01,800 --> 00:18:04,679 Speaker 1: ambassador to Japan, I'm sure they have a lot of 326 00:18:04,680 --> 00:18:09,520 Speaker 1: plans to try and secure that Asia ally UH situation 327 00:18:10,080 --> 00:18:11,960 Speaker 1: as quick as they can. Does that also send a 328 00:18:12,000 --> 00:18:14,960 Speaker 1: message to Kim Jong Jennie, It does, And let's not 329 00:18:15,000 --> 00:18:17,000 Speaker 1: forget this is part of what the administration has been 330 00:18:17,040 --> 00:18:20,520 Speaker 1: talking about well before this latest you know, potential incursion 331 00:18:20,520 --> 00:18:23,479 Speaker 1: into Russia, is that they wanted to pivot to Asia. 332 00:18:23,600 --> 00:18:26,280 Speaker 1: That has been their goal, their stated goal all along. 333 00:18:26,680 --> 00:18:30,520 Speaker 1: This is part of that. His first meeting with somebody 334 00:18:30,520 --> 00:18:33,359 Speaker 1: from overseas with with the Japanese prime ministers. We won't 335 00:18:33,400 --> 00:18:35,920 Speaker 1: remember last year when he became president. This is part 336 00:18:36,000 --> 00:18:39,760 Speaker 1: and parcel of that very important plan there with us 337 00:18:39,760 --> 00:18:42,840 Speaker 1: for the hour. Bloomberg Politics contributors Jeanne Sanzano and Rick 338 00:18:42,920 --> 00:18:46,200 Speaker 1: Davison back a little bit later on as we tackle 339 00:18:46,320 --> 00:18:48,640 Speaker 1: some other issues up next. We talked to Mark old Wine, 340 00:18:49,080 --> 00:18:52,280 Speaker 1: Senior Policy advisor at the Committee for a Responsible Budget 341 00:18:52,640 --> 00:18:54,960 Speaker 1: and review some of what we heard from Congressman Boyle. 342 00:18:55,080 --> 00:18:57,119 Speaker 1: What is the agenda now that members are back, what 343 00:18:57,200 --> 00:19:00,119 Speaker 1: can they get done? It's next on Bloomberg Sound On. 344 00:19:00,160 --> 00:19:07,080 Speaker 1: I'm Joe Matthew. This is Bloomberg broadcasting live from our 345 00:19:07,200 --> 00:19:13,040 Speaker 1: nation's capital, Bloomberg to New York, Bloomberg eleven Frio to Boston, 346 00:19:13,320 --> 00:19:17,080 Speaker 1: Bloomberg one oh six one to San Francisco, Bloomberg nine 347 00:19:17,280 --> 00:19:21,639 Speaker 1: sixty to the country, Serious XM Channel one, and around 348 00:19:21,640 --> 00:19:25,800 Speaker 1: the globe the Bloomberg Business app and Bloomberg Radio dot Com. 349 00:19:25,840 --> 00:19:31,159 Speaker 1: This is Bloomberg Sound On with Joe Matthew. So the 350 00:19:31,200 --> 00:19:34,640 Speaker 1: government runs out of money February eighth, right, we had 351 00:19:34,680 --> 00:19:39,240 Speaker 1: that circles on the calendar. There's no budget yet, and 352 00:19:39,320 --> 00:19:43,520 Speaker 1: instead of talking about a shutdown, lawmakers are crafting a budget. 353 00:19:44,480 --> 00:19:46,440 Speaker 1: This is not the set up for a flashback. It's 354 00:19:46,480 --> 00:19:48,439 Speaker 1: actually happening now and we'll talk about it next with 355 00:19:48,480 --> 00:19:50,879 Speaker 1: Mark old Wine from the Committee for a Responsible Budget, 356 00:19:50,880 --> 00:19:53,760 Speaker 1: along with the rest of the Congressional agenda. If there 357 00:19:53,840 --> 00:19:56,600 Speaker 1: is one smart read today from Bloomberg's Mike Warning and 358 00:19:57,440 --> 00:20:00,760 Speaker 1: Eric wasson the headline, Biden economic a end on hold 359 00:20:00,800 --> 00:20:04,120 Speaker 1: as more Americans hit hardships is really good piece here. 360 00:20:04,160 --> 00:20:07,480 Speaker 1: Democrats returned to Washington this week with no deal in sight. 361 00:20:08,000 --> 00:20:11,919 Speaker 1: We're talking about build back better or what was built 362 00:20:12,000 --> 00:20:15,000 Speaker 1: back better? The President's remember when we called it the 363 00:20:15,040 --> 00:20:20,399 Speaker 1: soft infrastructure. Doesn't that seem quaint now? Never got over 364 00:20:20,400 --> 00:20:22,120 Speaker 1: the finish line. Of course by the end of last year. 365 00:20:22,160 --> 00:20:24,920 Speaker 1: That doesn't mean it's dead, although Dick Durbin did say 366 00:20:25,000 --> 00:20:27,560 Speaker 1: over the weekend the number two Senate Democrats says, we 367 00:20:27,600 --> 00:20:30,920 Speaker 1: have debated it long enough, and nobody seems to think 368 00:20:30,920 --> 00:20:33,080 Speaker 1: that Joe Mansion has changed his mind. And so we 369 00:20:33,160 --> 00:20:36,480 Speaker 1: turned to what's going on in the budgeting process, knowing 370 00:20:36,520 --> 00:20:39,000 Speaker 1: that we run out of money February eighteenth. Maybe there's 371 00:20:39,000 --> 00:20:42,160 Speaker 1: a continuing resolution. Congressman Boyle told us earlier this hour 372 00:20:42,400 --> 00:20:44,720 Speaker 1: he doesn't want to see that. He works on the 373 00:20:44,760 --> 00:20:47,840 Speaker 1: Budget and Ways and Means committees. And we're joined now 374 00:20:47,920 --> 00:20:51,119 Speaker 1: by Mark Oldwine, Senior vice president, senior policy advisor at 375 00:20:51,119 --> 00:20:54,919 Speaker 1: the Committee for a Responsible Budget. Marcus, Congress is going 376 00:20:54,960 --> 00:21:00,679 Speaker 1: to be responsible and get this done. Well, thank you 377 00:21:00,720 --> 00:21:04,600 Speaker 1: so much for having me on the phone. Cut off 378 00:21:04,600 --> 00:21:06,560 Speaker 1: for a minute, so I missed your question. But if 379 00:21:06,600 --> 00:21:08,560 Speaker 1: the question is that Congress is going to be responsible, 380 00:21:08,800 --> 00:21:12,800 Speaker 1: the answer is probably no, how about responsible enough to 381 00:21:12,840 --> 00:21:14,760 Speaker 1: craft a budget. Do we get an omnibus build or 382 00:21:14,800 --> 00:21:18,000 Speaker 1: do we do another CR. So it looks like it's 383 00:21:18,040 --> 00:21:19,760 Speaker 1: a little bit too late for them to actually get 384 00:21:19,800 --> 00:21:23,240 Speaker 1: an omnibus in time by February eighteenth, But um, if 385 00:21:23,240 --> 00:21:25,920 Speaker 1: everything goes very well, maybe they'll do just a very 386 00:21:25,960 --> 00:21:28,600 Speaker 1: short term continuation, a short term CR and have something 387 00:21:28,640 --> 00:21:30,680 Speaker 1: by the end of the month. The issue is they're 388 00:21:30,720 --> 00:21:33,600 Speaker 1: negotiating some really big numbers. If they get this through, 389 00:21:33,640 --> 00:21:36,040 Speaker 1: it's not going to be because they sort of did 390 00:21:36,040 --> 00:21:38,560 Speaker 1: good governance. It's gonna because they bribe each other enough. 391 00:21:38,640 --> 00:21:42,000 Speaker 1: Democrats gave Republicans a huge increase in defense, Republicans give 392 00:21:42,040 --> 00:21:44,720 Speaker 1: Democrats a huge increase in non defense. Everybody wins and 393 00:21:44,800 --> 00:21:47,240 Speaker 1: the grand kids lose. Where does the increase in non 394 00:21:47,280 --> 00:21:51,720 Speaker 1: defense go? Well, we don't know yet because they're still negotiating. 395 00:21:52,040 --> 00:21:54,879 Speaker 1: President Biden asked for a sixteen percent to increase in 396 00:21:54,920 --> 00:21:57,960 Speaker 1: non defense, which is pretty radical considering in a typical 397 00:21:58,040 --> 00:22:00,720 Speaker 1: year we get something like two percent. No inflation is 398 00:22:00,800 --> 00:22:04,480 Speaker 1: higher this year, but you still expect maybe five. Um, 399 00:22:04,520 --> 00:22:06,320 Speaker 1: they're not going to get the full sixteen, but maybe 400 00:22:06,320 --> 00:22:08,400 Speaker 1: they'll get eight or nine or ten. We still don't 401 00:22:08,440 --> 00:22:09,920 Speaker 1: know where it's going to go. But that's enough money 402 00:22:09,960 --> 00:22:13,480 Speaker 1: to spread around, um to healthcare, to environment, to the 403 00:22:13,520 --> 00:22:19,200 Speaker 1: State Department, really everywhere. Bloomberg Reporting Bloomberg Government from Capitol 404 00:22:19,280 --> 00:22:22,000 Speaker 1: Hill that there might also be an opportunity to get 405 00:22:22,040 --> 00:22:25,000 Speaker 1: some COVID relief spending in there, not stimulus money, but 406 00:22:25,080 --> 00:22:28,679 Speaker 1: to pay for testing, to pay for at home testing, kids, vaccinations, 407 00:22:29,200 --> 00:22:33,600 Speaker 1: and so forth. Do you see that happening in this legislation? Um, 408 00:22:34,040 --> 00:22:35,879 Speaker 1: I think one way or another, if we start to 409 00:22:35,960 --> 00:22:38,240 Speaker 1: run out of testing money or things like that, there 410 00:22:38,240 --> 00:22:40,840 Speaker 1: will be bipartisan support to expand it. We put a 411 00:22:40,920 --> 00:22:43,119 Speaker 1: lot of that money in the American Rescue Plan, but 412 00:22:43,240 --> 00:22:45,240 Speaker 1: I don't think we predicted o Macron, and we're burning 413 00:22:45,240 --> 00:22:47,400 Speaker 1: through the money pretty fast. So it's gonna it's gonna 414 00:22:47,400 --> 00:22:49,480 Speaker 1: we're gonna need to renew that cash at some point, 415 00:22:49,880 --> 00:22:52,960 Speaker 1: whether it's this or something else, at some point, whether 416 00:22:53,000 --> 00:22:54,919 Speaker 1: we need in February or whether we can make it 417 00:22:54,960 --> 00:22:57,880 Speaker 1: till October. UM, I couldn't tell you, but I think 418 00:22:57,920 --> 00:22:59,760 Speaker 1: that when there is a need for more money, there 419 00:22:59,760 --> 00:23:01,960 Speaker 1: will be support for that kind of stuff. At what 420 00:23:02,080 --> 00:23:05,720 Speaker 1: point do they craft legislation that will steer infrastructure money. 421 00:23:05,840 --> 00:23:08,199 Speaker 1: You know, we've seen numbers. You get ten billion for 422 00:23:08,280 --> 00:23:11,240 Speaker 1: roads and bridges in one state, another one gets five. 423 00:23:11,280 --> 00:23:15,000 Speaker 1: But when does the actual mechanism uh go into place 424 00:23:15,040 --> 00:23:18,720 Speaker 1: that will start distributing that more than one trillion dollars 425 00:23:18,760 --> 00:23:21,440 Speaker 1: that was signed into law by the president last year. 426 00:23:22,280 --> 00:23:25,320 Speaker 1: So that money actually comes through sort of all different channels, 427 00:23:25,320 --> 00:23:27,760 Speaker 1: and a lot of it is um formula grants to 428 00:23:27,760 --> 00:23:29,960 Speaker 1: the states that they're already working out or stuff. The 429 00:23:30,040 --> 00:23:33,160 Speaker 1: Secretary of Transportation has some of it's through the highway though, 430 00:23:33,520 --> 00:23:36,119 Speaker 1: and so we actually have to wait for this appropriation 431 00:23:36,160 --> 00:23:37,760 Speaker 1: to to figure out how that's kind of going. So 432 00:23:37,760 --> 00:23:40,040 Speaker 1: that could take some time. Well that's something most people 433 00:23:40,040 --> 00:23:42,680 Speaker 1: don't seem to realize. You know that that infrastructure money 434 00:23:42,800 --> 00:23:44,760 Speaker 1: is going to also depend on what happens the next 435 00:23:44,800 --> 00:23:48,159 Speaker 1: couple of weeks. Here mark that that's right again, one 436 00:23:48,200 --> 00:23:50,159 Speaker 1: way or another. Look, they're very good at giving the 437 00:23:50,200 --> 00:23:51,800 Speaker 1: way the goodies, so one way or another they'll figure 438 00:23:51,800 --> 00:23:54,960 Speaker 1: out how to distribute the money. But these are intertwined conversations, 439 00:23:55,080 --> 00:23:57,400 Speaker 1: Yeah they are. Then there's useka I don't know how 440 00:23:57,400 --> 00:23:59,840 Speaker 1: closely you're looking at that. But we're talking about tens 441 00:23:59,840 --> 00:24:02,800 Speaker 1: of billions there that would be invested in a computer 442 00:24:02,920 --> 00:24:06,119 Speaker 1: chip manufacturing if these two chambers can get their act together, 443 00:24:06,200 --> 00:24:08,960 Speaker 1: get a conference bill and and something else passed. But 444 00:24:09,000 --> 00:24:12,879 Speaker 1: I know this has become a partisan conversation, at least 445 00:24:12,920 --> 00:24:16,200 Speaker 1: for some members of the House. I know the leadership 446 00:24:16,240 --> 00:24:18,360 Speaker 1: doesn't want to see this on the Republican side. Mark. 447 00:24:18,440 --> 00:24:21,200 Speaker 1: Is this going to see the light of day? Yeah, 448 00:24:21,200 --> 00:24:23,200 Speaker 1: it's it's hard to say. This is a competitiveness mill 449 00:24:23,720 --> 00:24:26,240 Speaker 1: that does what we normally do, which has creates a 450 00:24:26,240 --> 00:24:28,280 Speaker 1: bunch of new rules and regulations and the good kind 451 00:24:28,600 --> 00:24:30,919 Speaker 1: in many cases, the bad kind in some cases, and 452 00:24:31,000 --> 00:24:33,520 Speaker 1: allows me to be spent. But it also includes fifty 453 00:24:33,520 --> 00:24:36,480 Speaker 1: billion roughly of direct spending, which is not usual for 454 00:24:36,480 --> 00:24:39,800 Speaker 1: these bills. And that is that's definitely contentious. Um, but 455 00:24:40,200 --> 00:24:42,199 Speaker 1: there doesn't be a lot of interest in getting this 456 00:24:42,200 --> 00:24:44,840 Speaker 1: money out because we know about the chip shortage, and um, 457 00:24:44,880 --> 00:24:46,720 Speaker 1: you know we're in a race for China. It's funny 458 00:24:46,720 --> 00:24:48,919 Speaker 1: that this is contentious. I mean, it's not funny at all. 459 00:24:48,960 --> 00:24:51,560 Speaker 1: I guess why is it contentious? Is my question? Because 460 00:24:51,920 --> 00:24:54,240 Speaker 1: everyone seems to agree on both sides of the aisle 461 00:24:54,280 --> 00:24:56,679 Speaker 1: that we need to make more computer chips, even for 462 00:24:56,720 --> 00:24:59,880 Speaker 1: our own national security here in the United States. Isn't 463 00:24:59,880 --> 00:25:02,520 Speaker 1: this way to get it going? Yeah? I mean I 464 00:25:02,520 --> 00:25:04,639 Speaker 1: think one question is who should be doing at the 465 00:25:04,640 --> 00:25:07,720 Speaker 1: private sector or government funding? And another question is should 466 00:25:07,720 --> 00:25:10,159 Speaker 1: we pay for it? Because President Biden has said he 467 00:25:10,160 --> 00:25:12,040 Speaker 1: wants to pay for everything, but there's no pay for 468 00:25:12,119 --> 00:25:16,960 Speaker 1: us in this legislation. With Mark Oldwine, Senior Vice President, 469 00:25:17,000 --> 00:25:19,720 Speaker 1: Senior Policy Advisor of the Committee for a Responsible Budget, 470 00:25:20,000 --> 00:25:22,120 Speaker 1: what else is on your radar? I don't think it's 471 00:25:22,160 --> 00:25:24,440 Speaker 1: voting rights, and I'm assuming it's not build back better. 472 00:25:24,480 --> 00:25:26,840 Speaker 1: But maybe maybe I'm wrong, Mark. Maybe you see something 473 00:25:26,840 --> 00:25:29,600 Speaker 1: coming out of the ashes there. Um. Yeah, I mean 474 00:25:29,600 --> 00:25:32,359 Speaker 1: I think definitely we could. We could see um humpty 475 00:25:32,400 --> 00:25:35,719 Speaker 1: dumpty built that better again. Um, there's a lot of interest. 476 00:25:36,040 --> 00:25:39,399 Speaker 1: We just heard a bunch of House Democrats asked for 477 00:25:40,040 --> 00:25:43,200 Speaker 1: a climate change only bill. Just think the five fifty 478 00:25:43,200 --> 00:25:46,399 Speaker 1: billion of climate funding. Others are looking into adding in 479 00:25:46,440 --> 00:25:49,920 Speaker 1: pre K and childcare. Um. I do think that sooner 480 00:25:50,000 --> 00:25:52,160 Speaker 1: or later this is going to come back up. It's 481 00:25:52,240 --> 00:25:54,919 Speaker 1: not gonna be you know, the House bill, which was 482 00:25:55,440 --> 00:25:58,000 Speaker 1: basically originally like five trillion dollars worth of stuff that 483 00:25:58,040 --> 00:26:01,040 Speaker 1: they tried to make smaller by just having arbitrary expirations. 484 00:26:01,400 --> 00:26:04,320 Speaker 1: It's gonna be, I hope, a much more targeted package 485 00:26:04,320 --> 00:26:09,200 Speaker 1: of permanent policies, but it is going to take some time. 486 00:26:09,320 --> 00:26:13,200 Speaker 1: We talked earlier this hour with Congressman Brendan Boyle about it. Uh, 487 00:26:13,440 --> 00:26:16,440 Speaker 1: it's still a reconciliation exercise at that point, though, correct. 488 00:26:16,440 --> 00:26:18,159 Speaker 1: Democrats have to do that on their own. I'm out 489 00:26:18,200 --> 00:26:22,000 Speaker 1: of the size with the issues you're describing. That's right, Um, 490 00:26:22,040 --> 00:26:24,720 Speaker 1: I don't think there are. If this really falls apart, 491 00:26:24,720 --> 00:26:27,320 Speaker 1: there maybe some issues they can revive on a bipartisan basis, 492 00:26:27,480 --> 00:26:30,080 Speaker 1: but they're still looking for basically a fifty vote package, 493 00:26:30,320 --> 00:26:32,720 Speaker 1: and they have until October one. That's their deadline. Mark 494 00:26:32,760 --> 00:26:35,360 Speaker 1: gold Wine, from the Committee for a Responsible Budget, thanks 495 00:26:35,359 --> 00:26:36,879 Speaker 1: for getting us on track here at the beginning of 496 00:26:36,880 --> 00:26:39,960 Speaker 1: this week. Lawmakers are back. It's time to go February 497 00:26:40,040 --> 00:26:42,159 Speaker 1: eight teens. We'll see what happens between now and then, 498 00:26:42,200 --> 00:26:45,320 Speaker 1: although if you're Mark old Wine, you're not expecting a lot. 499 00:26:46,040 --> 00:26:47,679 Speaker 1: Rick and Janie are back with us next as we 500 00:26:47,720 --> 00:26:50,760 Speaker 1: reassemble the panel for Bloomberg Sound on on a Monday. 501 00:26:50,880 --> 00:27:00,119 Speaker 1: I'm Joe Matthew in New York. This is Bloomberg. Is 502 00:27:00,160 --> 00:27:08,680 Speaker 1: Bloomberg Son on with Joe Matthew on Bloomberg Radio, as 503 00:27:08,720 --> 00:27:11,520 Speaker 1: we join you again from the mother Ship and Manhattan. 504 00:27:11,560 --> 00:27:15,240 Speaker 1: Welcome to Bloomberg Sound On, as we reassemble the panel 505 00:27:15,240 --> 00:27:18,600 Speaker 1: now with Bloomberg Politics contributors Jeanie Schanzano and Rick Davis 506 00:27:18,600 --> 00:27:22,679 Speaker 1: to talk about something that Senator Lindsey Graham calls inappropriate. 507 00:27:23,800 --> 00:27:26,720 Speaker 1: Now you're wondering what I'm gonna say, Let's bring it 508 00:27:26,800 --> 00:27:28,879 Speaker 1: back to Texas. On Saturday night, the scene of the 509 00:27:28,960 --> 00:27:32,199 Speaker 1: latest Donald Trump rally, the former president made news with 510 00:27:32,280 --> 00:27:35,320 Speaker 1: some new material here. He is, if I run and 511 00:27:35,359 --> 00:27:39,800 Speaker 1: if I win, we will treat those people from January 512 00:27:39,960 --> 00:27:44,480 Speaker 1: six fairly. We will treat them fairly, and if it 513 00:27:44,520 --> 00:27:51,360 Speaker 1: requires pardons, we will give them pardons. Seven hundred sixty 514 00:27:51,400 --> 00:27:54,240 Speaker 1: one people potentially we're talking about who have been charged 515 00:27:54,280 --> 00:27:58,199 Speaker 1: in the Capitol riot in This of course, played itself 516 00:27:58,240 --> 00:28:01,480 Speaker 1: out the next morning on Sunday Morning television. This is 517 00:28:01,520 --> 00:28:04,879 Speaker 1: when we heard from Senator Lindsey Graham and everyone was 518 00:28:04,920 --> 00:28:08,480 Speaker 1: being asked about this, including the senator from South Carolina 519 00:28:08,560 --> 00:28:12,440 Speaker 1: who wasn't having it. Here's Lindsey Graham. I think it's inappropriate. 520 00:28:12,520 --> 00:28:16,280 Speaker 1: I don't want to reinforce that defiling the capital was okay. 521 00:28:16,520 --> 00:28:18,480 Speaker 1: I don't want to do anything that would make this 522 00:28:18,600 --> 00:28:21,080 Speaker 1: more likely in the future. I wanted to deter people 523 00:28:21,119 --> 00:28:23,919 Speaker 1: who did what the January the six and those who 524 00:28:24,040 --> 00:28:26,280 Speaker 1: did it, I hope they go to jail and get 525 00:28:26,280 --> 00:28:29,280 Speaker 1: the book thrown at them, because they deserve it. CBS 526 00:28:29,280 --> 00:28:33,280 Speaker 1: Sunday Morning. Let's reassemble the panel, Genie and Rick. Is 527 00:28:33,320 --> 00:28:36,800 Speaker 1: this the first sign of fissure here in the in 528 00:28:36,840 --> 00:28:40,040 Speaker 1: the Trump Republican Party? Rick Davis, Well, you know it's 529 00:28:40,080 --> 00:28:42,600 Speaker 1: not the first sign. I mean, shortly after the incursion 530 00:28:42,640 --> 00:28:44,640 Speaker 1: of the capital, Lindsey Graham said he was having no 531 00:28:44,720 --> 00:28:46,640 Speaker 1: more of it. And you know, this was the break 532 00:28:46,680 --> 00:28:48,560 Speaker 1: he was gonna make with Trump and that was quickly 533 00:28:48,800 --> 00:28:52,880 Speaker 1: reverse fields with so many other Republicans, like the minority 534 00:28:52,960 --> 00:28:55,320 Speaker 1: leader in the House. So um, I think it's the 535 00:28:55,360 --> 00:28:58,360 Speaker 1: current one. And uh in the current break is important 536 00:28:58,360 --> 00:29:01,320 Speaker 1: because we're now entering a mid term where some Republicans 537 00:29:01,360 --> 00:29:03,760 Speaker 1: are really dependent upon Donald Trump to help them get 538 00:29:03,760 --> 00:29:06,120 Speaker 1: a win in the primary and win in a general election, 539 00:29:06,560 --> 00:29:08,840 Speaker 1: and the fact that now some of the Republicans who 540 00:29:08,960 --> 00:29:12,800 Speaker 1: previously supported and defended Donald Trump are breaking with him. 541 00:29:12,840 --> 00:29:14,920 Speaker 1: I think it is really significant, So I guess, yeah, 542 00:29:14,920 --> 00:29:17,880 Speaker 1: that's a question, Genie. How important is it that this 543 00:29:17,920 --> 00:29:21,520 Speaker 1: particular senator is going on CBS has faced the nation 544 00:29:21,560 --> 00:29:24,400 Speaker 1: with a comment like that while others follow him. It's 545 00:29:24,480 --> 00:29:27,920 Speaker 1: very important. Lindsay Graham and and President former President Trump 546 00:29:27,960 --> 00:29:30,760 Speaker 1: are close. They golfed together. They seem to communicate an 547 00:29:30,760 --> 00:29:32,800 Speaker 1: awful lot, and they have been close for some time. 548 00:29:33,160 --> 00:29:36,240 Speaker 1: We also heard from Susan Collins, Governor Sannu and other 549 00:29:36,360 --> 00:29:41,440 Speaker 1: Republicans who said similarly to Lindsay Graham that these comments 550 00:29:41,440 --> 00:29:45,320 Speaker 1: were inappropriate and people who were responsible for breaking into 551 00:29:45,360 --> 00:29:47,800 Speaker 1: the capital and the harm that they did, the violence 552 00:29:47,800 --> 00:29:49,600 Speaker 1: that they did not to manage, you know, mentioned the 553 00:29:49,640 --> 00:29:52,440 Speaker 1: deaths that they caused, they need to be held responsible. 554 00:29:52,720 --> 00:29:56,440 Speaker 1: That said, even Susan Collins, when asked, still couldn't promise 555 00:29:56,680 --> 00:29:59,400 Speaker 1: that she would not support Donald Trump if he was 556 00:29:59,440 --> 00:30:02,680 Speaker 1: to be the presidential Canada on the Republican side in 557 00:30:03,560 --> 00:30:07,120 Speaker 1: four So while we see fissures, we don't see yet 558 00:30:07,160 --> 00:30:10,280 Speaker 1: a complete break, and that is a real problem because 559 00:30:10,360 --> 00:30:13,520 Speaker 1: let's not forget we are talking about people who broke 560 00:30:13,560 --> 00:30:16,360 Speaker 1: into the capital of the United States to stop an 561 00:30:16,360 --> 00:30:20,040 Speaker 1: election from going forward a fair election. For the former 562 00:30:20,080 --> 00:30:22,800 Speaker 1: president to say that and Republicans not to say he is, 563 00:30:23,080 --> 00:30:25,360 Speaker 1: you know, should not be their nominee at this point 564 00:30:25,800 --> 00:30:28,800 Speaker 1: remains a huge challenge for the Republican Party. That was 565 00:30:28,840 --> 00:30:30,480 Speaker 1: the line, by the way, that made the most news. 566 00:30:30,480 --> 00:30:32,600 Speaker 1: The the one that got my attention just as much 567 00:30:32,720 --> 00:30:35,360 Speaker 1: was when he urged his supporters to engage in quote 568 00:30:35,360 --> 00:30:39,800 Speaker 1: the biggest protest we have ever had unquote if prosecutors 569 00:30:39,840 --> 00:30:43,360 Speaker 1: investigating him and his his company do, as he put it, 570 00:30:43,440 --> 00:30:47,440 Speaker 1: anything wrong, we're illegal. Well we're talking about January six here, Rick, 571 00:30:47,480 --> 00:30:49,880 Speaker 1: and you're talking about the biggest protests we've ever had. 572 00:30:49,920 --> 00:30:52,080 Speaker 1: You know, there's a baseline for that now. Yeah. No, 573 00:30:52,160 --> 00:30:55,200 Speaker 1: I mean it's it's like groundhog Day, which is coming up, 574 00:30:55,240 --> 00:30:57,920 Speaker 1: and I think Donald Trump lives it every day. Um. 575 00:30:57,960 --> 00:31:00,280 Speaker 1: You know, he's actually making the same kind of always 576 00:31:00,280 --> 00:31:02,480 Speaker 1: he made shortly after the election about you know, we 577 00:31:02,520 --> 00:31:03,880 Speaker 1: need to take into the streets, we need to go 578 00:31:03,960 --> 00:31:06,120 Speaker 1: up to the Capitol, we need to be tough and 579 00:31:06,120 --> 00:31:09,040 Speaker 1: and and that is you know, sort of the kind 580 00:31:09,080 --> 00:31:11,240 Speaker 1: of concern that a lot of Republicans have is that 581 00:31:11,320 --> 00:31:15,240 Speaker 1: he really does actually promote this kind of misbehavior amongst 582 00:31:15,600 --> 00:31:18,120 Speaker 1: his supporters. And and I would say that the one 583 00:31:18,120 --> 00:31:20,600 Speaker 1: though that that really blew my mind was basically his 584 00:31:20,640 --> 00:31:23,240 Speaker 1: admission that he actually was trying to get Pence to 585 00:31:23,240 --> 00:31:25,920 Speaker 1: overturn the election. I mean here the president at a 586 00:31:26,040 --> 00:31:28,600 Speaker 1: rally said, yeah, I was trying to overturn the election, 587 00:31:28,640 --> 00:31:33,080 Speaker 1: but Pence was too much of a chicken. It's incredible stuff. Now, 588 00:31:33,160 --> 00:31:36,720 Speaker 1: a Congresswoman Marjorie Tayler Green Genie uh says that Lindsey 589 00:31:36,800 --> 00:31:39,760 Speaker 1: Graham quote pretends to be a friend to President Trump, 590 00:31:40,200 --> 00:31:42,800 Speaker 1: she unleashed on him today, which gives you a sense 591 00:31:43,240 --> 00:31:45,200 Speaker 1: of what this could look like if you end up 592 00:31:45,240 --> 00:31:47,680 Speaker 1: getting two sides of the Republican Party and Donald Trump 593 00:31:47,680 --> 00:31:50,920 Speaker 1: in the middle. That's right. And you know, as in 594 00:31:51,040 --> 00:31:53,360 Speaker 1: terms of what he said about, you know, the prospect 595 00:31:53,440 --> 00:31:57,600 Speaker 1: of these pardons for January six insurrectionist and then also 596 00:31:57,720 --> 00:32:01,400 Speaker 1: about calling for people to prote test and rally, you know, 597 00:32:01,520 --> 00:32:03,440 Speaker 1: you do hear a lot of people say, oh, it's 598 00:32:03,480 --> 00:32:05,880 Speaker 1: just Donald Trump, which we've heard for many years now, 599 00:32:05,920 --> 00:32:08,400 Speaker 1: just let him talk, it doesn't really matter. But we 600 00:32:08,560 --> 00:32:11,400 Speaker 1: know that it does matter that his supporters listened to him. 601 00:32:11,440 --> 00:32:13,800 Speaker 1: That's what we saw in January six. And you now 602 00:32:13,840 --> 00:32:17,160 Speaker 1: see this district attorney down in Atlanta asking the FBI 603 00:32:17,320 --> 00:32:21,320 Speaker 1: to help secure her governmental complex while she investigates the 604 00:32:21,360 --> 00:32:24,360 Speaker 1: former president out of fear that she herself and the 605 00:32:24,400 --> 00:32:28,040 Speaker 1: grand jury she's assembling maybe at risk for some kind 606 00:32:28,040 --> 00:32:30,920 Speaker 1: of attack. We are talking about the real prospect of 607 00:32:31,000 --> 00:32:33,920 Speaker 1: violence here. So Marjorie Taylor Green and others on the 608 00:32:33,960 --> 00:32:36,840 Speaker 1: Republican side who want to criticize Lindsay Graham or anybody 609 00:32:36,840 --> 00:32:38,760 Speaker 1: else we're calling him out on this have to be 610 00:32:38,840 --> 00:32:41,080 Speaker 1: very careful what they say. But of course, knowing her 611 00:32:41,120 --> 00:32:43,360 Speaker 1: the way we do, she won't listen. Rick, Is this 612 00:32:43,440 --> 00:32:45,920 Speaker 1: the kind of conversation that the Biden White House and 613 00:32:45,960 --> 00:32:49,920 Speaker 1: eventually Biden reelection campaign, if there is one, wants to 614 00:32:50,000 --> 00:32:53,840 Speaker 1: be having to remind people of January six, the year ago. 615 00:32:54,480 --> 00:32:57,040 Speaker 1: I mean, I think the motto would be let Trump 616 00:32:57,080 --> 00:32:59,600 Speaker 1: be Trump, because they know the more Trump does this, 617 00:32:59,760 --> 00:33:02,320 Speaker 1: the more likely is that he can't get votes. Remember, 618 00:33:02,600 --> 00:33:04,960 Speaker 1: this was the kind of behavior that cost the Republican 619 00:33:04,960 --> 00:33:09,120 Speaker 1: Party two perfectly good Republican senators from Georgia and gave 620 00:33:09,200 --> 00:33:12,560 Speaker 1: control of the Senate to the Democrats. This is exactly 621 00:33:12,600 --> 00:33:15,000 Speaker 1: the approach that Donald Trump took when he traveled to 622 00:33:15,040 --> 00:33:18,040 Speaker 1: Georgia and said, it's not about this election, It's about me, 623 00:33:18,160 --> 00:33:21,040 Speaker 1: and it's about my grievances. So the grievance party, the 624 00:33:21,120 --> 00:33:23,720 Speaker 1: GOP has a decision to make. But Joe Biden can 625 00:33:23,840 --> 00:33:26,000 Speaker 1: enjoy this. It's like a gift at a time when 626 00:33:26,000 --> 00:33:29,240 Speaker 1: he has not been enjoying very good politics himself. I 627 00:33:29,280 --> 00:33:31,200 Speaker 1: want to pick up in our remaining moments on some 628 00:33:31,280 --> 00:33:34,560 Speaker 1: of the conversation we have with Congressman Brendan Boyle and 629 00:33:34,560 --> 00:33:37,360 Speaker 1: and later on in the program with Mark Goldwine, and 630 00:33:37,360 --> 00:33:40,240 Speaker 1: that has to do with the domestic agenda here. Rick, 631 00:33:40,320 --> 00:33:43,200 Speaker 1: you kind of predicted what we heard from the congressman 632 00:33:43,240 --> 00:33:46,640 Speaker 1: on Friday with regard to the chances of crafting an 633 00:33:46,680 --> 00:33:50,880 Speaker 1: omnibus bill, getting this done, actually doing the work of 634 00:33:50,880 --> 00:33:53,360 Speaker 1: of the Senate, actually doing the work of the House here. 635 00:33:54,000 --> 00:33:56,360 Speaker 1: And I wonder what your thought is as lawmakers come 636 00:33:56,360 --> 00:33:59,880 Speaker 1: back into town today, how how likely it is that 637 00:34:00,000 --> 00:34:02,680 Speaker 1: they'll get this done by February eighteenth. You know, look, 638 00:34:02,680 --> 00:34:06,280 Speaker 1: I think it's a possibility. I mean, the four corners 639 00:34:06,320 --> 00:34:10,160 Speaker 1: in the Senate, the to appropriation chairs, Repulican Democrat and 640 00:34:10,200 --> 00:34:14,400 Speaker 1: the minority and the majority, Uh, leader are very committed 641 00:34:14,440 --> 00:34:16,799 Speaker 1: to try and to get an omnibus done. Uh. The 642 00:34:16,880 --> 00:34:20,239 Speaker 1: reality is is exactly what was described earlier in your program. 643 00:34:20,280 --> 00:34:22,640 Speaker 1: It's a bribe, right, and they're gonna be enough domestic 644 00:34:22,719 --> 00:34:26,760 Speaker 1: spending offset bllion. It's in the budget to the Defense Department. 645 00:34:26,960 --> 00:34:29,200 Speaker 1: That's the trick. It's not much more complex than that. 646 00:34:29,640 --> 00:34:32,640 Speaker 1: And and frankly, most of the observers of the appropriations 647 00:34:32,680 --> 00:34:34,320 Speaker 1: process that I've talked to you think that this is 648 00:34:34,360 --> 00:34:37,399 Speaker 1: going to get done. So Uh, I think it's good 649 00:34:37,440 --> 00:34:40,760 Speaker 1: for Congress. Uh. We're gonna spend a little bit more money. 650 00:34:40,880 --> 00:34:43,799 Speaker 1: My god, We've just spent three trillion dollars. So the 651 00:34:43,840 --> 00:34:46,360 Speaker 1: integrity of the federal budget I think is worth at 652 00:34:46,400 --> 00:34:48,719 Speaker 1: least a portion of that. Sure, Jennie, what do you 653 00:34:48,760 --> 00:34:51,840 Speaker 1: think on this? And does this actually helped Joe Biden 654 00:34:51,880 --> 00:34:54,480 Speaker 1: in the end? We know congressional approval ratings, you know, 655 00:34:54,520 --> 00:34:57,200 Speaker 1: the generic coggressional number is always going to be a disaster. 656 00:34:57,280 --> 00:34:59,600 Speaker 1: But would this help Joe Biden get things out of 657 00:34:59,640 --> 00:35:02,800 Speaker 1: the gut a little bit? Showing just the gears turning, 658 00:35:02,800 --> 00:35:05,880 Speaker 1: the mechanism working in Washington. You know, it's better than 659 00:35:05,920 --> 00:35:08,680 Speaker 1: if it doesn't happen. Obviously there I don't think anybody 660 00:35:08,680 --> 00:35:10,279 Speaker 1: thinks there's going to be a shutdown. But if we 661 00:35:10,320 --> 00:35:13,120 Speaker 1: get a continuing resolution, um, you know, it's better if 662 00:35:13,160 --> 00:35:15,640 Speaker 1: we get the omnibus for the president. You know, we 663 00:35:15,719 --> 00:35:18,799 Speaker 1: forget about things like while they passed the infrastructure bill, 664 00:35:18,840 --> 00:35:21,239 Speaker 1: they still have an appropriated the money for it, so 665 00:35:21,640 --> 00:35:24,279 Speaker 1: you know, this is a critical component of that. And 666 00:35:24,320 --> 00:35:26,560 Speaker 1: of course, you know, as Democrats like to say, they're 667 00:35:26,600 --> 00:35:29,920 Speaker 1: still operating under the government is still operating under Donald 668 00:35:29,920 --> 00:35:33,320 Speaker 1: Trump's budget. They want to increase spending on those issues 669 00:35:33,360 --> 00:35:36,480 Speaker 1: that they care about. So speaking of those bribes, you know, 670 00:35:36,719 --> 00:35:39,680 Speaker 1: the White House was at six the Democrats willing to 671 00:35:39,680 --> 00:35:42,360 Speaker 1: go down to thirteen. Hopefully they get to some middle 672 00:35:42,400 --> 00:35:45,120 Speaker 1: ground there. So, yes, it's better for the White House 673 00:35:45,480 --> 00:35:48,200 Speaker 1: if they get something that far. But you know, this 674 00:35:48,280 --> 00:35:51,040 Speaker 1: is still a big question. We're what eighteen days away, 675 00:35:51,160 --> 00:35:53,600 Speaker 1: we still have the House going out on break the week. 676 00:35:53,640 --> 00:35:55,960 Speaker 1: This thing needs to be done. Even if they get 677 00:35:55,960 --> 00:35:59,040 Speaker 1: a top line, you still have to fill out the 678 00:35:59,080 --> 00:36:02,359 Speaker 1: particulars there. So can they do it? Yes? Should they? Yes? 679 00:36:02,600 --> 00:36:05,200 Speaker 1: But it is still an uphill battle and you know, 680 00:36:05,360 --> 00:36:07,800 Speaker 1: you were talking to to both of your guests about 681 00:36:07,840 --> 00:36:09,920 Speaker 1: the huge other amounts of other things they have on 682 00:36:10,120 --> 00:36:13,880 Speaker 1: their agenda. We're also hearing reports that you've got senators 683 00:36:13,920 --> 00:36:16,480 Speaker 1: pushing to address the crisis at the border in terms 684 00:36:16,520 --> 00:36:19,759 Speaker 1: of immigration, so you know they're taking on an awful lot. 685 00:36:19,840 --> 00:36:21,839 Speaker 1: This is just the tip of the iceberg. I'm glad 686 00:36:21,880 --> 00:36:23,440 Speaker 1: that you mentioned that you can read about that on 687 00:36:23,440 --> 00:36:26,120 Speaker 1: the terminal. By the way, top Senate Democrat aims to 688 00:36:26,239 --> 00:36:29,600 Speaker 1: quote go as big as we can unquote on immigration. 689 00:36:30,080 --> 00:36:32,960 Speaker 1: Can Patty Murray get the ball rolling on this again? Rick? 690 00:36:33,520 --> 00:36:37,520 Speaker 1: You know, it's a it's a very tough question, right, 691 00:36:37,560 --> 00:36:39,799 Speaker 1: I mean, as as Genie points out, there are a 692 00:36:39,840 --> 00:36:42,560 Speaker 1: lot of priorities in Congress right now. And the looming 693 00:36:42,760 --> 00:36:47,200 Speaker 1: aspect of this is it's it's also a mid year election. Uh, 694 00:36:47,280 --> 00:36:50,000 Speaker 1: this mid term election. This is going to slow down 695 00:36:50,080 --> 00:36:53,000 Speaker 1: congressional activity, you know in the summer because people have 696 00:36:53,040 --> 00:36:55,360 Speaker 1: to go home and actually relate a campaign. So in 697 00:36:55,400 --> 00:36:59,520 Speaker 1: a shortened year, get all this done. I think that 698 00:36:59,560 --> 00:37:02,799 Speaker 1: there's a lot of wishes. It'll be interesting to see 699 00:37:02,800 --> 00:37:04,560 Speaker 1: how many horses show up. Well, it's a mid term 700 00:37:04,560 --> 00:37:06,400 Speaker 1: election here, right, Is this just about getting me to 701 00:37:06,440 --> 00:37:08,040 Speaker 1: ask you about it and getting a story of the 702 00:37:08,120 --> 00:37:10,080 Speaker 1: terminal getting and then then you know, of course, but 703 00:37:10,160 --> 00:37:12,840 Speaker 1: come November they say, look we tried, we did it again. Republicans, 704 00:37:12,880 --> 00:37:16,239 Speaker 1: Genie stop us. You know, I think the talk about 705 00:37:16,280 --> 00:37:19,200 Speaker 1: immigration is real if as you look at some you know, 706 00:37:19,239 --> 00:37:21,120 Speaker 1: we don't get a lot of coverage on the border 707 00:37:21,160 --> 00:37:24,000 Speaker 1: at this point, but when you pay particular attention to it, 708 00:37:24,239 --> 00:37:28,040 Speaker 1: the situation isn't some respects deteriorating. That is a problem 709 00:37:28,080 --> 00:37:30,600 Speaker 1: for the White House. So I do think that this 710 00:37:30,680 --> 00:37:33,600 Speaker 1: is critically important that it get addressed. Can they get 711 00:37:33,640 --> 00:37:36,759 Speaker 1: it done, though, is a huge another question, and during 712 00:37:36,800 --> 00:37:39,319 Speaker 1: an election year, as you mentioned, you know, that much 713 00:37:39,360 --> 00:37:43,280 Speaker 1: more difficult. But I think the Biden administration would benefit 714 00:37:43,400 --> 00:37:46,000 Speaker 1: from a focus on this. This has been something that 715 00:37:46,080 --> 00:37:49,520 Speaker 1: has dog Democratic administrations in particular for a long time, 716 00:37:49,760 --> 00:37:51,799 Speaker 1: and we'll continue to in the mid term. So the 717 00:37:51,800 --> 00:37:54,200 Speaker 1: way we ended last year, I'll tell you they they'd 718 00:37:54,239 --> 00:37:56,360 Speaker 1: be ready to cue the duck boats if they simply 719 00:37:56,400 --> 00:38:00,600 Speaker 1: got a budget past. As Rick has mentioned to both 720 00:38:00,640 --> 00:38:03,680 Speaker 1: of you, Rick and Jeannie, getting our week underway, doesn't 721 00:38:03,680 --> 00:38:06,319 Speaker 1: it feel better now you've got through your Monday? You know, 722 00:38:06,400 --> 00:38:08,719 Speaker 1: what's on the panel's mind. We're gonna be all right. 723 00:38:08,760 --> 00:38:12,360 Speaker 1: I'll meet you back here tomorrow. Bloomberg Sound on. This 724 00:38:12,520 --> 00:38:13,120 Speaker 1: is Bloomberg.