1
00:00:00,880 --> 00:00:04,360
Speaker 1: You're listening to the Bloomberg Sound on podcast. Catch us

2
00:00:04,400 --> 00:00:07,560
Speaker 1: live weekdays at one Eastern on Bloomberg dot com, the

3
00:00:07,640 --> 00:00:10,760
Speaker 1: iHeartRadio app, and the Bloomberg Business App, or listen on

4
00:00:10,800 --> 00:00:12,800
Speaker 1: demand wherever you get your podcasts.

5
00:00:14,280 --> 00:00:18,720
Speaker 2: The Administration makes the case for funding Israel and Ukraine.

6
00:00:18,800 --> 00:00:21,800
Speaker 2: Welcome to the fastest show in politics, as the debate

7
00:00:21,880 --> 00:00:25,680
Speaker 2: over funding gets real on Capitol Hill, even as we

8
00:00:25,720 --> 00:00:28,360
Speaker 2: watch both wars unfold in real time. We'll have the

9
00:00:28,440 --> 00:00:31,200
Speaker 2: latest from both sides of the Atlantic and both ends

10
00:00:31,240 --> 00:00:35,760
Speaker 2: of Pennsylvania. Avenue in a conversation with Michael O'Hanlon from

11
00:00:35,840 --> 00:00:39,599
Speaker 2: the Brookings Institution, with analysis from our signature panel. Back

12
00:00:39,640 --> 00:00:44,000
Speaker 2: together today, Rick Davis and Genie Shanzano Bloomberg Politics contributors.

13
00:00:44,280 --> 00:00:47,680
Speaker 2: I'm Joe Matthew in Washington, where the debate around funding

14
00:00:47,800 --> 00:00:52,280
Speaker 2: the wars happening between Israel and Hamas, Ukraine and Russia

15
00:00:53,080 --> 00:00:56,240
Speaker 2: finally gets real with lawmakers coming back into town today,

16
00:00:56,240 --> 00:01:00,640
Speaker 2: and it's taking place as Israel's military engages in fierce

17
00:01:00,760 --> 00:01:04,520
Speaker 2: fighting with Hamas deep in the Gaza Strip today. The

18
00:01:04,600 --> 00:01:08,560
Speaker 2: headline on the terminal no hostage deal in sight as

19
00:01:08,760 --> 00:01:11,680
Speaker 2: army battles in Gaza. That is not the way. Benjamin

20
00:01:11,760 --> 00:01:14,399
Speaker 2: dat Ya who sees it, of course, he talked about

21
00:01:14,400 --> 00:01:18,920
Speaker 2: it in a news conference right around this time yesterday,

22
00:01:18,959 --> 00:01:23,520
Speaker 2: putting the ground offensive on par with the mission to

23
00:01:23,640 --> 00:01:28,200
Speaker 2: rescue hostages. Some say you can't have one without the other,

24
00:01:29,600 --> 00:01:31,520
Speaker 2: including Benjamin dtnaho Are.

25
00:01:31,600 --> 00:01:34,880
Speaker 3: A common assessment of all of the not only the

26
00:01:34,880 --> 00:01:37,280
Speaker 3: cabinet members, but also all the security forces in the

27
00:01:37,319 --> 00:01:42,560
Speaker 3: military is that the ground action actually creates the possibility

28
00:01:42,720 --> 00:01:45,840
Speaker 3: not a certain thing, but the possibility of getting our

29
00:01:45,880 --> 00:01:51,400
Speaker 3: hostages out because hamas will not do it unless they're

30
00:01:51,440 --> 00:01:54,080
Speaker 3: under pressure. They simply will not do it. They only

31
00:01:54,120 --> 00:01:56,120
Speaker 3: do it under pressure. This creates pressure.

32
00:01:56,320 --> 00:01:59,080
Speaker 2: Now today, fast forward a few hours, members of the

33
00:01:59,080 --> 00:02:01,800
Speaker 2: administration are making the case on Capitol Hill. We already

34
00:02:01,800 --> 00:02:04,280
Speaker 2: told you that will likely be a vote on Thursday

35
00:02:04,760 --> 00:02:09,120
Speaker 2: in the House of Representatives, specifically on is rarely funding,

36
00:02:09,400 --> 00:02:11,560
Speaker 2: not Ukraine or any of the other matters that were

37
00:02:11,560 --> 00:02:15,639
Speaker 2: put into this request from the White House. But lawmakers

38
00:02:15,639 --> 00:02:18,960
Speaker 2: on the Senate Appropriations Committee, you're talking about how exactly

39
00:02:19,120 --> 00:02:21,760
Speaker 2: they might be able to do both if possible. There

40
00:02:21,800 --> 00:02:25,320
Speaker 2: to make the case the Secretary of State Anthony Blincoln.

41
00:02:25,400 --> 00:02:29,200
Speaker 4: I also hear very much the passions expressed in this

42
00:02:29,360 --> 00:02:34,079
Speaker 4: room and outside this room. All of us are committed

43
00:02:34,200 --> 00:02:37,480
Speaker 4: to the protection of civilian life. All of us know

44
00:02:37,760 --> 00:02:41,400
Speaker 4: the suffering that is taking place as we speak. All

45
00:02:41,440 --> 00:02:44,160
Speaker 4: of us are determined to see it end.

46
00:02:44,400 --> 00:02:49,000
Speaker 2: And this is a hearing that has not been coming easily,

47
00:02:49,960 --> 00:02:54,600
Speaker 2: with Heckler's repeatedly interrupting the Secretary, not in the face

48
00:02:54,639 --> 00:02:58,160
Speaker 2: of an intensifying strategic competition in the Indo Positis.

49
00:02:57,760 --> 00:02:59,919
Speaker 5: Went around the world repeatedly through the hearing.

50
00:03:01,919 --> 00:03:04,679
Speaker 6: If the witness was to spend Pattie.

51
00:03:04,440 --> 00:03:09,080
Speaker 2: Murray trying to bring things to some semblance of order here,

52
00:03:09,120 --> 00:03:11,480
Speaker 2: but as soon as they would put one Heckler out

53
00:03:11,520 --> 00:03:15,400
Speaker 2: of the room, another would pop up.

54
00:03:17,240 --> 00:03:18,000
Speaker 6: They's fire.

55
00:03:18,200 --> 00:03:20,520
Speaker 5: Now, these are very children of.

56
00:03:20,639 --> 00:03:26,520
Speaker 2: Godda, important moments as we consider both sides of the

57
00:03:26,520 --> 00:03:28,920
Speaker 2: debate here that we're going to be exploring over the

58
00:03:28,919 --> 00:03:32,000
Speaker 2: course of the hour. The Secretary of Defense also in

59
00:03:32,040 --> 00:03:36,520
Speaker 2: that hearing today, talking about the extent to which this

60
00:03:36,800 --> 00:03:39,520
Speaker 2: money for Ukraine, sixty billion dollars worth of white House

61
00:03:39,600 --> 00:03:42,800
Speaker 2: is asking would come home to the US, and we'll

62
00:03:42,840 --> 00:03:44,960
Speaker 2: go to defense contractors here when we.

63
00:03:44,920 --> 00:03:48,760
Speaker 7: Send our friends munitions from our stockpiles the money to

64
00:03:49,000 --> 00:03:53,800
Speaker 7: replenish our supplies strengthens our military readiness, and we invest

65
00:03:53,840 --> 00:03:58,320
Speaker 7: in American industry and American workers. That also holds true

66
00:03:58,360 --> 00:04:01,800
Speaker 7: for funding for Israel or you to procure a new

67
00:04:01,840 --> 00:04:03,640
Speaker 7: equipment off the production line.

68
00:04:03,840 --> 00:04:08,040
Speaker 2: Lloyd Austin speaking earlier today before the Senate Appropriations Committee.

69
00:04:08,240 --> 00:04:10,920
Speaker 2: As we bring in Michael O'Hanlon, delighted to say he's

70
00:04:10,960 --> 00:04:14,119
Speaker 2: back with us today on Bloomberg Radio and on YouTube

71
00:04:14,120 --> 00:04:18,440
Speaker 2: the Brookings Institution Senior Fellow Director of Research in Foreign Policy. Michael,

72
00:04:18,440 --> 00:04:20,120
Speaker 2: it's great to have you. Have a lot of questions

73
00:04:20,120 --> 00:04:22,560
Speaker 2: for you, and I have been looking forward to this

74
00:04:23,120 --> 00:04:25,119
Speaker 2: for a couple of weeks here, so thanks for making

75
00:04:25,160 --> 00:04:28,600
Speaker 2: time for us today on Bloomberg. Let's begin with this

76
00:04:28,720 --> 00:04:33,840
Speaker 2: idea of a ground offensive actually helping to unlock and

77
00:04:34,000 --> 00:04:38,400
Speaker 2: free hostages. We saw one female soldier rescued an Israeli

78
00:04:38,400 --> 00:04:42,000
Speaker 2: soldier rescued yesterday Benjamin ett Yah, who says it is

79
00:04:42,040 --> 00:04:46,600
Speaker 2: the consensus in his administration and among military and intelligence

80
00:04:46,600 --> 00:04:49,880
Speaker 2: officials there that this is the best chance to save

81
00:04:49,960 --> 00:04:53,240
Speaker 2: hostages is by actually moving in on the ground with

82
00:04:53,360 --> 00:04:54,040
Speaker 2: the military.

83
00:04:54,080 --> 00:04:57,839
Speaker 6: Do you agree, No, I'm agnostic.

84
00:04:58,200 --> 00:05:00,400
Speaker 8: I don't think that it's possible to reach that kind

85
00:05:00,440 --> 00:05:03,200
Speaker 8: of a definitive conclusion. So I would disagree with anyone

86
00:05:03,240 --> 00:05:05,119
Speaker 8: who has a strong opinion either way, to be honest

87
00:05:05,160 --> 00:05:08,200
Speaker 8: with you, because I think it's entirely possible that Hamas

88
00:05:08,240 --> 00:05:12,279
Speaker 8: would start executing hostages as Israeli troops got close, which

89
00:05:12,320 --> 00:05:15,200
Speaker 8: would counter a Prime Minister net Nyahu's argument. But it

90
00:05:15,279 --> 00:05:19,760
Speaker 8: is also possible that Hamas might feel desperation. Leaders who

91
00:05:19,760 --> 00:05:22,839
Speaker 8: were previously well protected or hidden might feel that their

92
00:05:22,920 --> 00:05:24,920
Speaker 8: own lives were at risk, and they might start thinking

93
00:05:24,960 --> 00:05:27,960
Speaker 8: about doing a deal they would not previously have contemplated.

94
00:05:28,360 --> 00:05:30,640
Speaker 8: But they took hostages for a reason. They took hostages

95
00:05:30,680 --> 00:05:33,640
Speaker 8: to have some kind of negotiating leverage at some point.

96
00:05:33,880 --> 00:05:35,640
Speaker 8: They may or may not have had a clear strategy

97
00:05:35,680 --> 00:05:38,000
Speaker 8: for when and how to pursue that, but they could

98
00:05:38,040 --> 00:05:40,040
Speaker 8: have obviously killed all those people the same way they

99
00:05:40,080 --> 00:05:44,120
Speaker 8: mercilessly massacred the fourteen hundred on October seventh. So there

100
00:05:44,160 --> 00:05:46,880
Speaker 8: is some kind of a negotiation somewhere in somebody's head,

101
00:05:47,120 --> 00:05:49,320
Speaker 8: and I don't think we have enough evidence to be

102
00:05:49,440 --> 00:05:53,159
Speaker 8: confident whether the prospect of that negotiation and that deal

103
00:05:53,440 --> 00:05:57,320
Speaker 8: would be improved by you know, Israeli forces getting closer

104
00:05:57,360 --> 00:05:58,720
Speaker 8: to Hamas hiding.

105
00:05:58,640 --> 00:06:00,880
Speaker 6: Places or whether it would be work. It really could

106
00:06:00,920 --> 00:06:02,440
Speaker 6: go either way as I see it.

107
00:06:03,440 --> 00:06:06,080
Speaker 2: The head of Israel's National Security Council says there is

108
00:06:06,120 --> 00:06:09,680
Speaker 2: no deal in sight to get more hostages freed. Does

109
00:06:09,720 --> 00:06:12,760
Speaker 2: that speak to the calculation here? Do you think for

110
00:06:12,839 --> 00:06:15,120
Speaker 2: the IDF to say, all right, then we're moving in.

111
00:06:16,080 --> 00:06:20,320
Speaker 8: I suppose, But I also think that the IDF was

112
00:06:21,520 --> 00:06:24,919
Speaker 8: desirous of going in very quickly. After October seventh, Israeli

113
00:06:24,960 --> 00:06:28,000
Speaker 8: passions were understandably so high, and the fact that they

114
00:06:28,040 --> 00:06:31,400
Speaker 8: waited a couple of weeks or more before doing large

115
00:06:31,400 --> 00:06:34,479
Speaker 8: scale incursions is partly a reflection of the lack of

116
00:06:34,520 --> 00:06:36,880
Speaker 8: a clear military strategy for what they would do on

117
00:06:36,920 --> 00:06:38,080
Speaker 8: the ground once they were there.

118
00:06:38,640 --> 00:06:40,680
Speaker 6: So I don't think it was the sort of.

119
00:06:40,600 --> 00:06:43,160
Speaker 8: Thing where they had a well rehearsed plan that could

120
00:06:43,200 --> 00:06:46,200
Speaker 8: be implemented at any given moment based primarily on the

121
00:06:46,200 --> 00:06:48,880
Speaker 8: hostage issue, or are there such sort of you know,

122
00:06:48,960 --> 00:06:49,680
Speaker 8: specific and.

123
00:06:51,279 --> 00:06:53,280
Speaker 6: Discreet kinds of concerns.

124
00:06:53,320 --> 00:06:55,919
Speaker 8: I think it was the reflection of the need to

125
00:06:55,960 --> 00:06:57,920
Speaker 8: figure out how to do what they're about to do,

126
00:06:58,000 --> 00:07:00,919
Speaker 8: and frankly, what the objectives even were because, as we

127
00:07:01,000 --> 00:07:04,720
Speaker 8: all know, right after October seventh, Israeli leaders were saying.

128
00:07:04,480 --> 00:07:06,880
Speaker 6: That if you're Hamas, you're a dead man walking.

129
00:07:06,920 --> 00:07:10,120
Speaker 8: In other words, they were pledging the extermination of the

130
00:07:10,280 --> 00:07:13,360
Speaker 8: entirety of the Hamas organization, which is an understandable reaction,

131
00:07:13,880 --> 00:07:16,880
Speaker 8: but probably no more realistic than the United States saying

132
00:07:16,960 --> 00:07:19,200
Speaker 8: on September twelfth, two thousand and one, that we are

133
00:07:19,200 --> 00:07:21,040
Speaker 8: going to exterminate al Qaeda.

134
00:07:21,520 --> 00:07:24,400
Speaker 6: It's a goal that you naturally.

135
00:07:24,160 --> 00:07:26,960
Speaker 8: Think about and certainly that you aspire to emotionally, but

136
00:07:27,000 --> 00:07:29,960
Speaker 8: it's probably not realistic. So that just reflects the Israelis

137
00:07:29,960 --> 00:07:33,040
Speaker 8: were not really in a place initially to go in

138
00:07:33,040 --> 00:07:35,600
Speaker 8: with any kind of a well developed and realistic plan.

139
00:07:35,880 --> 00:07:37,920
Speaker 8: So that's the main reason I believe it's taken them

140
00:07:37,920 --> 00:07:39,640
Speaker 8: time to launch this.

141
00:07:40,520 --> 00:07:43,320
Speaker 2: We're are you on a potential end game and exit

142
00:07:43,440 --> 00:07:47,360
Speaker 2: strategy here? If there is, when Michael, we're seeing more fighting,

143
00:07:48,040 --> 00:07:51,480
Speaker 2: striking targets in Lebanon, is real going deeper into the

144
00:07:51,480 --> 00:07:55,080
Speaker 2: Gaza strip. There's talk about a second or a third front,

145
00:07:55,160 --> 00:07:57,600
Speaker 2: of course, and I wonder how likely do you think

146
00:07:57,640 --> 00:08:00,200
Speaker 2: that is to see one break out of if it

147
00:08:00,200 --> 00:08:00,840
Speaker 2: hasn't already.

148
00:08:01,760 --> 00:08:03,760
Speaker 8: Yeah, it's a great question, and I've read just in

149
00:08:03,800 --> 00:08:07,320
Speaker 8: today's newspapers contending points of view on that very issue

150
00:08:07,320 --> 00:08:10,000
Speaker 8: by people who know Iran and Hesbolah better than I do.

151
00:08:10,280 --> 00:08:13,520
Speaker 8: Just to be transparent, I consider myself a general defense

152
00:08:13,560 --> 00:08:16,880
Speaker 8: analyst by the way, with sore eyes, so my apologies

153
00:08:16,920 --> 00:08:20,559
Speaker 8: for the sunglasses, rather than an expert on Hesbela or Iran.

154
00:08:20,640 --> 00:08:22,800
Speaker 6: But I could see that I would say.

155
00:08:22,680 --> 00:08:25,600
Speaker 8: The chances of Hesbelah unleashing an all out attack on

156
00:08:25,680 --> 00:08:29,440
Speaker 8: Israel are still less than fifty to fifty because Hesbelah

157
00:08:29,520 --> 00:08:32,880
Speaker 8: is essentially followed to live and let live with Israel

158
00:08:32,920 --> 00:08:35,400
Speaker 8: for seventeen years since the Big Fight of two thousand

159
00:08:35,400 --> 00:08:38,400
Speaker 8: and six. And there are reasons why Hesbelas wanted to

160
00:08:38,840 --> 00:08:42,200
Speaker 8: have the ability to strike Israel but has not actually

161
00:08:42,360 --> 00:08:47,120
Speaker 8: implemented that capability or employed that capability, and those reasons

162
00:08:47,160 --> 00:08:50,440
Speaker 8: don't necessarily change with what Hamas decided to do down

163
00:08:50,480 --> 00:08:54,280
Speaker 8: in Gaza and your Gaza. So I think that Hesbelah's

164
00:08:54,360 --> 00:08:59,080
Speaker 8: calculus is probably only moderately or modestly influenced by what's

165
00:08:59,120 --> 00:09:01,240
Speaker 8: played out over the left last few weeks. But there

166
00:09:01,280 --> 00:09:04,840
Speaker 8: are people who say it. Listen, Hesbela can't sit aside

167
00:09:04,880 --> 00:09:09,000
Speaker 8: forever and watch it's sort of fellow you know, pro

168
00:09:09,080 --> 00:09:15,800
Speaker 8: Iran anti Israel organization and Palestinian people suffer the way

169
00:09:15,840 --> 00:09:18,520
Speaker 8: they have and seem powerless to do anything about it.

170
00:09:18,559 --> 00:09:22,080
Speaker 8: So if this thing continues indefinitely, the argument is that

171
00:09:22,160 --> 00:09:26,120
Speaker 8: Hezbollah will then feel some greater incentive to get involved itself,

172
00:09:26,160 --> 00:09:27,880
Speaker 8: for no other reason than to sort of save its

173
00:09:27,880 --> 00:09:30,160
Speaker 8: own pride and its place in the pecking order as

174
00:09:30,200 --> 00:09:34,640
Speaker 8: supposedly the strongest anti Israel rejectionist group out there. But

175
00:09:34,960 --> 00:09:38,360
Speaker 8: I think as to the question about an endgame, I'm

176
00:09:38,360 --> 00:09:41,600
Speaker 8: sort of intrigued by the idea of a UN trusteeshe

177
00:09:41,720 --> 00:09:45,560
Speaker 8: that brings in Palestinians of various stripes, you know, but

178
00:09:45,679 --> 00:09:50,240
Speaker 8: not Hamas, and then ultimately transitions to a Palestinian state

179
00:09:50,320 --> 00:09:53,680
Speaker 8: in Gaza and worry later about the Palestinian state in

180
00:09:53,720 --> 00:09:57,360
Speaker 8: the West Bank. Or maybe maybe that peace process begins

181
00:09:57,400 --> 00:09:59,880
Speaker 8: anew as soon as this war can be brought to

182
00:10:00,040 --> 00:10:02,560
Speaker 8: will close, but in other words, not go back to

183
00:10:02,559 --> 00:10:06,600
Speaker 8: a situation where either Hamas or Israel would be occupying

184
00:10:06,600 --> 00:10:10,360
Speaker 8: and controlling the Gaza strip. But maybe instead of trying

185
00:10:10,360 --> 00:10:14,720
Speaker 8: to get this one big, perfect two state solution, which

186
00:10:14,760 --> 00:10:18,160
Speaker 8: is of course, so difficult and elusive. Maybe it's time

187
00:10:18,200 --> 00:10:22,480
Speaker 8: to create a piece of that state or one state,

188
00:10:22,760 --> 00:10:25,000
Speaker 8: and then see what happens later with the possibility of

189
00:10:25,000 --> 00:10:28,040
Speaker 8: a second Palestinian state that may or may not ultimately merge.

190
00:10:28,240 --> 00:10:30,400
Speaker 6: This is not an idea I've heard that many Middle.

191
00:10:30,200 --> 00:10:33,240
Speaker 8: Eastern experts endorse, but I think it's worth adding into

192
00:10:33,240 --> 00:10:34,640
Speaker 8: the mix because if you're going to think about a

193
00:10:34,640 --> 00:10:37,280
Speaker 8: post Tamas government, you've got to think about how do

194
00:10:37,320 --> 00:10:39,319
Speaker 8: you do that in a way that doesn't allow Hamas

195
00:10:39,360 --> 00:10:42,240
Speaker 8: to just come back whatever's left of Hamas to regroup.

196
00:10:42,600 --> 00:10:44,440
Speaker 8: And yet you don't want the United States to do this,

197
00:10:44,520 --> 00:10:46,880
Speaker 8: you don't want Israel to do it. So it leaves

198
00:10:46,920 --> 00:10:52,560
Speaker 8: the idea of a reasonably well armed UN trusteeship followed by, well,

199
00:10:52,600 --> 00:10:56,360
Speaker 8: what comes next? I think a Palestinian state. So there's

200
00:10:56,480 --> 00:10:58,840
Speaker 8: light at the end of the tunnel for the Palestinian

201
00:10:58,880 --> 00:11:01,120
Speaker 8: people in the You know, not so much that I

202
00:11:01,160 --> 00:11:04,040
Speaker 8: care about himas I don't, but I think the Palestinian

203
00:11:04,080 --> 00:11:07,120
Speaker 8: people need that kind of a future vision to get

204
00:11:07,160 --> 00:11:07,520
Speaker 8: through this.

205
00:11:08,440 --> 00:11:11,240
Speaker 2: Spending some time with Michael O'Hanlon from the Brookings Institution

206
00:11:11,400 --> 00:11:14,800
Speaker 2: and sharing ideas here on Bloomberg's sound on I wonder

207
00:11:14,840 --> 00:11:16,880
Speaker 2: your thoughts about what's happening in Syria. We got a

208
00:11:16,880 --> 00:11:20,920
Speaker 2: warning from the UN, Michael warning that the war is

209
00:11:21,000 --> 00:11:24,359
Speaker 2: quote unquote spilling over into Syria.

210
00:11:24,400 --> 00:11:26,240
Speaker 5: How real is that? What are we going to be

211
00:11:26,280 --> 00:11:27,880
Speaker 5: talking about a couple of weeks from now.

212
00:11:29,840 --> 00:11:33,160
Speaker 8: Well, of course there's an irony, you know, war spilling

213
00:11:33,200 --> 00:11:35,480
Speaker 8: over into a country that's been at war itself.

214
00:11:35,160 --> 00:11:36,000
Speaker 6: For twelve years.

215
00:11:35,840 --> 00:11:36,720
Speaker 9: So true.

216
00:11:37,080 --> 00:11:41,000
Speaker 8: So I have no doubt that the UN's right at

217
00:11:41,000 --> 00:11:44,000
Speaker 8: one tactical level that when you have a region like

218
00:11:44,040 --> 00:11:47,360
Speaker 8: this with weak governments and a lot of extremist groups,

219
00:11:47,360 --> 00:11:51,480
Speaker 8: that they're undoubtedly is movement across borders. And certainly some

220
00:11:51,559 --> 00:11:54,560
Speaker 8: of that movement is from Syria into Lebanon with weapons

221
00:11:54,559 --> 00:11:58,360
Speaker 8: that Iron supplies to Hesbolah, And you know, there could

222
00:11:58,400 --> 00:11:59,520
Speaker 8: be other kinds of movements.

223
00:11:59,559 --> 00:12:02,000
Speaker 6: I'm sure it probably are. So in that sense, yes,

224
00:12:02,040 --> 00:12:04,240
Speaker 6: the war is spilled over. It already had spilled over.

225
00:12:04,280 --> 00:12:07,840
Speaker 8: These different countries are part of a generalized conflict zone.

226
00:12:07,960 --> 00:12:10,280
Speaker 8: It may be more intense in some places than others,

227
00:12:10,320 --> 00:12:12,640
Speaker 8: but is really a regional kind of.

228
00:12:14,600 --> 00:12:15,160
Speaker 6: Calamity.

229
00:12:15,679 --> 00:12:18,640
Speaker 8: And so it's just an expansion of what was already underway.

230
00:12:18,960 --> 00:12:21,120
Speaker 8: I have no doubt that's occurring. It's not my top

231
00:12:21,160 --> 00:12:23,880
Speaker 8: concern in this situation compared to everything.

232
00:12:23,520 --> 00:12:24,360
Speaker 6: Else that's at risk.

233
00:12:25,120 --> 00:12:26,160
Speaker 5: What is your top concern?

234
00:12:27,120 --> 00:12:30,280
Speaker 8: Well, getting to your earlier questions about the possibility of

235
00:12:30,320 --> 00:12:34,080
Speaker 8: Hesbela unleashing and all out second front, I think that's

236
00:12:34,120 --> 00:12:38,440
Speaker 8: the main concern, not Syria being further destabilized, but Israel

237
00:12:38,520 --> 00:12:39,840
Speaker 8: and Hesbela being at war.

238
00:12:41,440 --> 00:12:43,480
Speaker 2: Michael, it's great to have you back. Michael O'Hanlon a

239
00:12:43,559 --> 00:12:45,240
Speaker 2: senior fellow the Brookings Institution.

240
00:12:45,320 --> 00:12:46,680
Speaker 5: He's director of Research.

241
00:12:46,400 --> 00:12:49,200
Speaker 2: And foreign policy there and sharing insights with us here

242
00:12:49,240 --> 00:12:52,000
Speaker 2: on Bloomberg Radio. I'm Joe Matthew in Washington. As we

243
00:12:52,040 --> 00:12:54,960
Speaker 2: assemble our panel, We've got Rick and Genie back together today.

244
00:12:55,000 --> 00:12:57,440
Speaker 2: I'm glad to say and awfully curious to hear what's

245
00:12:57,520 --> 00:13:02,360
Speaker 2: on their mind. Bloomberg Politics contributors Davis and Genie Shanzeno.

246
00:13:02,520 --> 00:13:04,840
Speaker 2: There's a lot to pick through there. Rick, I'll start

247
00:13:04,920 --> 00:13:09,680
Speaker 2: with you on the matter of Hesbolah. To what extent

248
00:13:09,960 --> 00:13:14,400
Speaker 2: should Israel be reinforcing that northern border and should the

249
00:13:14,559 --> 00:13:15,839
Speaker 2: US be involved?

250
00:13:18,760 --> 00:13:22,360
Speaker 10: Yeah, obviously, I think the northern border is a vulnerability

251
00:13:22,440 --> 00:13:26,120
Speaker 10: for Israel and and and and the question is how

252
00:13:26,200 --> 00:13:29,079
Speaker 10: much can they reinforce with the commitment of troops that

253
00:13:29,120 --> 00:13:33,640
Speaker 10: they have as a move into Gaza and and and

254
00:13:33,720 --> 00:13:37,520
Speaker 10: I think if there's any weakness there, the US should

255
00:13:37,520 --> 00:13:41,880
Speaker 10: look at putting our own troops there on the northern

256
00:13:41,920 --> 00:13:46,040
Speaker 10: border to ensure that there isn't an incursion into Israel

257
00:13:46,040 --> 00:13:48,800
Speaker 10: from the north. You know, it's a sovereign country, Israel,

258
00:13:48,880 --> 00:13:51,960
Speaker 10: it's a democracy. It's a country that we should and

259
00:13:52,080 --> 00:13:54,320
Speaker 10: have a security agreement to defend.

260
00:13:55,040 --> 00:13:56,680
Speaker 5: And it's great that we have.

261
00:13:56,800 --> 00:14:03,840
Speaker 10: Aircraft carrier and off the coast to intercept missiles and

262
00:14:03,880 --> 00:14:07,480
Speaker 10: things like that that they've been doing. But troops on

263
00:14:07,520 --> 00:14:11,920
Speaker 10: the ground on the northern border is a real deterrent

264
00:14:12,720 --> 00:14:17,599
Speaker 10: to both Hesblo and Oran's interest here. And so I

265
00:14:17,640 --> 00:14:19,520
Speaker 10: think it would send a strong message and we certainly

266
00:14:19,560 --> 00:14:20,800
Speaker 10: have the capacity.

267
00:14:20,320 --> 00:14:20,720
Speaker 11: To do it.

268
00:14:21,600 --> 00:14:25,200
Speaker 2: How worried are you, Genie and welcome back that US

269
00:14:25,320 --> 00:14:27,200
Speaker 2: boots end up on the ground in Israel?

270
00:14:27,320 --> 00:14:28,440
Speaker 5: Or is that what should happen?

271
00:14:30,000 --> 00:14:33,120
Speaker 12: You know, I think it's a concern. I don't think

272
00:14:33,240 --> 00:14:37,640
Speaker 12: that it is something that the administration is inclined to do,

273
00:14:37,880 --> 00:14:40,680
Speaker 12: and they certainly will try to avoid at all cost.

274
00:14:40,760 --> 00:14:43,240
Speaker 12: And I think that is the right move, but it

275
00:14:43,320 --> 00:14:45,520
Speaker 12: is a concern. I mean, we have seen and we

276
00:14:45,560 --> 00:14:49,160
Speaker 12: have heard to your point, how this is escalating and spreading.

277
00:14:49,320 --> 00:14:52,280
Speaker 12: And if the US gets enmeshed in that and we

278
00:14:52,360 --> 00:14:55,040
Speaker 12: see boots on the ground, that is going to be

279
00:14:55,120 --> 00:14:58,520
Speaker 12: a whole different bawlgame. And already we are seeing the

280
00:14:58,600 --> 00:15:01,840
Speaker 12: reaction from the United State's public and we are not

281
00:15:02,200 --> 00:15:05,520
Speaker 12: on the ground at this point. So imagine if we

282
00:15:05,640 --> 00:15:08,240
Speaker 12: get to that point what the reaction of the US

283
00:15:08,360 --> 00:15:10,640
Speaker 12: public will be. And it will change the game for

284
00:15:10,720 --> 00:15:13,400
Speaker 12: the twenty four elections should that happen, and.

285
00:15:13,400 --> 00:15:16,000
Speaker 2: Certainly changed the debate I suspect in Congress. We're going

286
00:15:16,040 --> 00:15:18,520
Speaker 2: to go there next with Rick and Jeannie. I'm Joe Matthew.

287
00:15:18,560 --> 00:15:19,440
Speaker 5: This is Bloomberg.

288
00:15:20,760 --> 00:15:24,160
Speaker 1: You're listening to the Bloomberg Sound on podcast. Catch the

289
00:15:24,200 --> 00:15:28,080
Speaker 1: program live weekdays at one Eastern on Bloomberg Radio, the

290
00:15:28,120 --> 00:15:31,480
Speaker 1: tune in app, Bloomberg dot Com, and the Bloomberg Business App.

291
00:15:31,600 --> 00:15:34,440
Speaker 1: You can also listen live on Amazon Alexa from our

292
00:15:34,480 --> 00:15:38,960
Speaker 1: flagship New York station, Just say Alexa play Bloomberg eleven thirty.

293
00:15:40,800 --> 00:15:43,880
Speaker 2: President Biden sends the big guns up to Capitol Hill

294
00:15:43,920 --> 00:15:45,840
Speaker 2: to make the case for the money one hundred and

295
00:15:45,880 --> 00:15:48,360
Speaker 2: six billion dollars. Yeah, it's a lot of money. Of course,

296
00:15:48,800 --> 00:15:51,240
Speaker 2: it goes to a lot of places. The supplemental budget

297
00:15:51,280 --> 00:15:55,720
Speaker 2: requests that we've talked about aimed at Israel, Ukraine, Taiwan,

298
00:15:56,600 --> 00:16:01,920
Speaker 2: and our southern border. And as I mentioned, the secretaries

299
00:16:01,920 --> 00:16:04,120
Speaker 2: are making the case today, Anthony Blincoln along with the

300
00:16:04,160 --> 00:16:11,240
Speaker 2: Secretary of Defense Lloyd Austin. Behind them are the Senate leaders,

301
00:16:11,280 --> 00:16:14,760
Speaker 2: the Democrat and the Republican. Here's Chuck Schumer earlier today

302
00:16:14,760 --> 00:16:15,240
Speaker 2: on the floor.

303
00:16:15,320 --> 00:16:20,760
Speaker 13: I'm deeply troubled that yesterday House Republicans released a partisan

304
00:16:21,320 --> 00:16:26,160
Speaker 13: and woefully inadequate package with no aid to Ukraine, no

305
00:16:26,320 --> 00:16:30,920
Speaker 13: humanitarian assistance for Gaza, no funding for the Indo Pacific,

306
00:16:31,520 --> 00:16:37,040
Speaker 13: and in addition, poison pills that increase the deficit and

307
00:16:37,200 --> 00:16:42,960
Speaker 13: help wealthy tax cheats avoid paying their fair share poison pills.

308
00:16:43,400 --> 00:16:45,640
Speaker 2: He's talking about. The offsets are going to take money

309
00:16:45,920 --> 00:16:49,840
Speaker 2: out of the irs to pay for the money going

310
00:16:49,880 --> 00:16:51,720
Speaker 2: to Israel. That's the plan, at least from the new

311
00:16:51,760 --> 00:16:56,520
Speaker 2: Republican speaker. Mike Johnson talked about it in another interview

312
00:16:56,520 --> 00:16:57,040
Speaker 2: on Fox.

313
00:16:57,360 --> 00:16:59,840
Speaker 14: My intention is to call Leader Schumer over there and

314
00:17:00,080 --> 00:17:03,400
Speaker 14: have a very direct and thoughtful conversation about this. I

315
00:17:03,480 --> 00:17:07,399
Speaker 14: understand their priority is to bulke up the IRS. But

316
00:17:07,480 --> 00:17:09,359
Speaker 14: I think if you put this to the American people

317
00:17:09,480 --> 00:17:11,600
Speaker 14: and they weigh the two needs, I think they're going

318
00:17:11,680 --> 00:17:14,720
Speaker 14: to say, standing with Israel and protecting the innocent over

319
00:17:14,760 --> 00:17:17,200
Speaker 14: there is in our national interest and is a more

320
00:17:17,200 --> 00:17:18,760
Speaker 14: immediate need than IRS agents.

321
00:17:18,880 --> 00:17:20,000
Speaker 5: Let's reassemble the panel.

322
00:17:20,119 --> 00:17:23,560
Speaker 2: Rick Davis and Jeanie Shanzano joined Bloomberg Politics contributors Because

323
00:17:23,560 --> 00:17:26,040
Speaker 2: this is the real stuff. Lawmakers are actually coming back

324
00:17:26,080 --> 00:17:30,720
Speaker 2: into town well tomorrow at least for the House to

325
00:17:30,800 --> 00:17:33,639
Speaker 2: get this debate started. They're already doing this though, in

326
00:17:33,720 --> 00:17:35,920
Speaker 2: front of the Appropriations Committee in the Senate, and that's

327
00:17:35,920 --> 00:17:40,960
Speaker 2: what matters. Rick, Anthony Blinken, and Lloyd Austin are making

328
00:17:41,040 --> 00:17:44,800
Speaker 2: the case here for what the administration sees, and even

329
00:17:44,840 --> 00:17:50,080
Speaker 2: Mitch McConnell used this word intertwined national security threats.

330
00:17:50,119 --> 00:17:53,480
Speaker 5: Are they succeeding, you know, I think.

331
00:17:53,320 --> 00:17:56,240
Speaker 10: They're succeeding with those people who are already likely to

332
00:17:56,320 --> 00:18:00,679
Speaker 10: be supportive of the Ukraine funding measure. That's really the

333
00:18:00,720 --> 00:18:04,560
Speaker 10: test kit here. Everybody is pretty supportive of Israel and

334
00:18:04,840 --> 00:18:06,960
Speaker 10: funding for them. So how do we how do we

335
00:18:07,080 --> 00:18:11,080
Speaker 10: drag through this process Ukraine funding, you know, attached to

336
00:18:11,080 --> 00:18:13,960
Speaker 10: the Israeli funding, and that's their pitch, and and and

337
00:18:14,000 --> 00:18:15,800
Speaker 10: so I think it's working with people who are already

338
00:18:15,840 --> 00:18:19,320
Speaker 10: predisposed to want to do that. I'm not sure it's

339
00:18:19,359 --> 00:18:24,479
Speaker 10: being compelling to those who are either on the fence

340
00:18:25,160 --> 00:18:28,840
Speaker 10: or opposed. And a lot of it is a process conversation, right,

341
00:18:29,000 --> 00:18:31,919
Speaker 10: you know, just connecting these two things, I think this

342
00:18:32,000 --> 00:18:35,119
Speaker 10: administration would be well suited to make a stronger case

343
00:18:35,640 --> 00:18:38,280
Speaker 10: specifically for the Ukraine funding and what it's for and

344
00:18:38,320 --> 00:18:41,160
Speaker 10: how it's going to be protected, you know, and how's

345
00:18:41,160 --> 00:18:43,199
Speaker 10: it going to be handled in the process, so that

346
00:18:43,680 --> 00:18:47,359
Speaker 10: Republicans who are getting heat to change their mind and

347
00:18:47,440 --> 00:18:51,520
Speaker 10: be against Ukraine funding have some better standing. But that's

348
00:18:51,560 --> 00:18:54,720
Speaker 10: getting lost in the you know, incredible amount of reporting

349
00:18:54,720 --> 00:18:57,679
Speaker 10: around Israel, and so I think they've they've got to

350
00:18:57,680 --> 00:19:01,240
Speaker 10: really focus in on this Ukraine spending and what is

351
00:19:01,280 --> 00:19:02,840
Speaker 10: for and how it'll be administered.

352
00:19:03,520 --> 00:19:06,159
Speaker 2: Well, as we discussed, Joe Biden has a friend in

353
00:19:06,200 --> 00:19:09,520
Speaker 2: Mitch McConnell. When it comes to making that case. You

354
00:19:09,560 --> 00:19:11,720
Speaker 2: can send the Secretary of State up there all you want,

355
00:19:11,720 --> 00:19:14,040
Speaker 2: but how about the Republican from Kentucky. Here he was

356
00:19:14,160 --> 00:19:17,600
Speaker 2: in Louisville making that very case, Genie.

357
00:19:17,359 --> 00:19:24,320
Speaker 9: So this is not solely about helping Ukraine. It's also

358
00:19:24,400 --> 00:19:28,119
Speaker 9: about getting us ready for the bigger challenges we have

359
00:19:28,240 --> 00:19:31,320
Speaker 9: ahead out in Asia.

360
00:19:32,640 --> 00:19:32,960
Speaker 7: Right now.

361
00:19:33,040 --> 00:19:36,359
Speaker 9: Our efforts are making a difference both in Ukraine and

362
00:19:36,440 --> 00:19:41,679
Speaker 9: here at home. But the Biden administration's hesitation along the

363
00:19:41,720 --> 00:19:46,600
Speaker 9: way as really, in my view, kind of prolonged the bloodshed.

364
00:19:47,520 --> 00:19:50,760
Speaker 9: This is a moment for swift and decisive action to

365
00:19:50,840 --> 00:19:54,800
Speaker 9: prevent further loss of life and to impose real consequences

366
00:19:54,840 --> 00:19:58,320
Speaker 9: on the tyrants who terrorize the people of Ukraine and

367
00:19:58,440 --> 00:19:59,040
Speaker 9: of Israel.

368
00:19:59,560 --> 00:20:01,840
Speaker 2: He puts them together in the same sentence. So he's

369
00:20:01,880 --> 00:20:04,520
Speaker 2: always got a kind of jab his old friend Joe

370
00:20:04,560 --> 00:20:07,080
Speaker 2: Biden while he's at it. What he's really doing, though,

371
00:20:07,160 --> 00:20:11,640
Speaker 2: Genie is selling the administration's proposal here, isn't he?

372
00:20:11,640 --> 00:20:14,199
Speaker 12: He is, and he has been doing that very vocally.

373
00:20:14,320 --> 00:20:18,320
Speaker 12: Yesterday that speech, well, the introduction of the Ukrainian ambassador

374
00:20:18,400 --> 00:20:22,600
Speaker 12: in Louisville, that was just another example of Mitch McConnell

375
00:20:22,680 --> 00:20:25,520
Speaker 12: publicly making the case. He did something rare a few

376
00:20:25,560 --> 00:20:28,399
Speaker 12: weekends ago. He went on the Sunday talk shows, and

377
00:20:28,480 --> 00:20:31,399
Speaker 12: he made the same case that these should be tied together.

378
00:20:31,920 --> 00:20:34,679
Speaker 12: You know, he is the public face of the Biden

379
00:20:34,720 --> 00:20:38,560
Speaker 12: administration's efforts here, but the reality is he has not

380
00:20:39,000 --> 00:20:42,480
Speaker 12: been effective in selling this to his own party because

381
00:20:42,480 --> 00:20:45,360
Speaker 12: you just look at what Mike Johnson has done now

382
00:20:45,400 --> 00:20:50,199
Speaker 12: with this fourteen billion dollar proposal and the payoffs he

383
00:20:50,280 --> 00:20:52,760
Speaker 12: is trying to use it. It's quite a heck of

384
00:20:52,800 --> 00:20:55,720
Speaker 12: an opening act that this new speaker has got himself

385
00:20:55,760 --> 00:20:59,280
Speaker 12: into a bill that could been pessed with flying colors

386
00:20:59,359 --> 00:21:02,119
Speaker 12: by part of and support while we wait for the

387
00:21:02,160 --> 00:21:05,200
Speaker 12: next shoe to drop with the next cr he's decided

388
00:21:05,240 --> 00:21:07,280
Speaker 12: to step in and say, we're going to get it

389
00:21:07,359 --> 00:21:12,320
Speaker 12: pay for from the IRA in terms of the money

390
00:21:12,359 --> 00:21:15,959
Speaker 12: that was designed for the IRS. And by the way,

391
00:21:16,040 --> 00:21:20,320
Speaker 12: if he's interested in cost savings, you don't cut IRS agents.

392
00:21:20,480 --> 00:21:23,639
Speaker 12: That is going to cost more. They are going to

393
00:21:23,720 --> 00:21:26,800
Speaker 12: score that as a higher cost. So he can't even

394
00:21:26,840 --> 00:21:28,960
Speaker 12: make the case with a straight face that this is

395
00:21:29,000 --> 00:21:32,280
Speaker 12: about cost saving. This is about him trying to placate

396
00:21:32,320 --> 00:21:34,880
Speaker 12: the right of his party, and he's doing so at

397
00:21:34,880 --> 00:21:38,520
Speaker 12: the expense of necessary funding for Israel. And oh, by

398
00:21:38,560 --> 00:21:41,240
Speaker 12: the way, he left out Ukraine the border and Taiwan

399
00:21:41,320 --> 00:21:42,280
Speaker 12: in the process.

400
00:21:42,960 --> 00:21:45,680
Speaker 2: What do you make of this IRS move here, Rick,

401
00:21:45,760 --> 00:21:49,040
Speaker 2: we knew that the new Republican speaker was going to

402
00:21:49,119 --> 00:21:51,920
Speaker 2: seek offsets, but to take the money from IRS. It's

403
00:21:51,960 --> 00:21:55,080
Speaker 2: great politics, right, I'm sure this actually is playing pretty

404
00:21:55,080 --> 00:22:00,680
Speaker 2: well with the Republican base, But it would do with geniesuggesting. Right,

405
00:22:01,280 --> 00:22:07,000
Speaker 2: if your intent on lowering deficits, you don't cut IRS

406
00:22:07,080 --> 00:22:09,960
Speaker 2: funding and limit the tax receipts coming in, do you.

407
00:22:11,200 --> 00:22:11,400
Speaker 5: Well?

408
00:22:11,960 --> 00:22:14,560
Speaker 10: The Biden administration had a hard time making the case

409
00:22:14,600 --> 00:22:18,400
Speaker 10: that eighty billion dollars of additional IRS payments we're going

410
00:22:18,440 --> 00:22:22,760
Speaker 10: to somehow result in big tax revenue increases. And so

411
00:22:23,359 --> 00:22:26,919
Speaker 10: if the Biden administration had trouble selling that, then the

412
00:22:26,960 --> 00:22:29,600
Speaker 10: Republicans aren't going to have that much trouble selling that.

413
00:22:29,680 --> 00:22:34,440
Speaker 10: A small fraction of that being used for the war

414
00:22:34,480 --> 00:22:38,720
Speaker 10: in Israel is probably not going to get much traction, right.

415
00:22:38,760 --> 00:22:40,680
Speaker 5: I mean, And by the way, we kind of.

416
00:22:40,720 --> 00:22:43,480
Speaker 10: Like the fact that Congress is actually looking for offsets,

417
00:22:44,000 --> 00:22:46,600
Speaker 10: you know, to pay for these supplementals. I mean, supplementals

418
00:22:46,600 --> 00:22:50,119
Speaker 10: have been burdening the deficit for a long time, and

419
00:22:50,240 --> 00:22:53,120
Speaker 10: I think it's actually good ethic to have this conversation.

420
00:22:54,080 --> 00:22:57,080
Speaker 10: If I were the Democrats, I'd say, fine, let's fund

421
00:22:57,080 --> 00:23:00,520
Speaker 10: that and let's add ten billion dollars to the UK spending.

422
00:23:00,560 --> 00:23:02,479
Speaker 10: I mean, like there's a better way to do it

423
00:23:02,520 --> 00:23:04,639
Speaker 10: than to somehow go out there. If I'm a Democrat

424
00:23:04,640 --> 00:23:08,560
Speaker 10: and defending more IRS agents, geez, I mean, I does

425
00:23:08,600 --> 00:23:11,440
Speaker 10: someone tell Schumer that it's an election year?

426
00:23:13,920 --> 00:23:15,480
Speaker 5: He calls it a poison pill?

427
00:23:15,640 --> 00:23:19,159
Speaker 2: Genie, which approach do you prefer?

428
00:23:20,720 --> 00:23:20,919
Speaker 6: You know?

429
00:23:21,560 --> 00:23:25,159
Speaker 12: The reality is is that again, if you cut the

430
00:23:25,240 --> 00:23:30,040
Speaker 12: funding for the IRS agents, that'll be scored as cost inducing,

431
00:23:30,320 --> 00:23:35,040
Speaker 12: not cost reducing. So anybody who is serious about cutting

432
00:23:35,400 --> 00:23:38,560
Speaker 12: and who is serious about offsets would not suggest that

433
00:23:38,640 --> 00:23:42,480
Speaker 12: the place to find those is cutting IRS agents. So yes,

434
00:23:42,640 --> 00:23:45,879
Speaker 12: I agreed, we need to do something about spending, and

435
00:23:45,920 --> 00:23:49,640
Speaker 12: these supplementals are expensive, But why don't we go back

436
00:23:49,680 --> 00:23:53,399
Speaker 12: and do something else, like visit the twenty seventeen tax

437
00:23:53,440 --> 00:23:56,320
Speaker 12: cuts that we're given to those billionaires. Why don't we

438
00:23:56,440 --> 00:24:01,040
Speaker 12: do something more effective to actually cutting as opposed to

439
00:24:01,160 --> 00:24:04,359
Speaker 12: adding on, which is exactly what the Republicans are doing.

440
00:24:04,680 --> 00:24:07,280
Speaker 12: I mean, this is confounding. If you just think about

441
00:24:07,280 --> 00:24:11,679
Speaker 12: the numbers, it will cost more to take those agents away.

442
00:24:12,560 --> 00:24:15,960
Speaker 12: The money that the government gets come solely from taxes.

443
00:24:16,040 --> 00:24:19,240
Speaker 12: If they aren't able to collect, we don't get the money.

444
00:24:19,280 --> 00:24:22,320
Speaker 12: As a people and a government, we need it collected.

445
00:24:22,600 --> 00:24:25,600
Speaker 12: We need IRS agents to do that. Defunding them in

446
00:24:25,640 --> 00:24:28,720
Speaker 12: this way is not an effective way to do anything

447
00:24:28,800 --> 00:24:32,639
Speaker 12: except score political points. So it's a political game that

448
00:24:32,680 --> 00:24:35,800
Speaker 12: the new Speaker and the Republican Party have decided to play,

449
00:24:36,040 --> 00:24:38,600
Speaker 12: but not at all effective from any sort of cost

450
00:24:38,640 --> 00:24:39,680
Speaker 12: saving perspectives.

451
00:24:40,200 --> 00:24:42,520
Speaker 5: But this isn't about really reality, is it, Rick? This

452
00:24:42,560 --> 00:24:43,400
Speaker 5: is about politics.

453
00:24:43,440 --> 00:24:47,199
Speaker 2: You can you can win an election on defunding the IRS,

454
00:24:47,320 --> 00:24:49,720
Speaker 2: on eliminating the IRS. I think that might be part

455
00:24:49,720 --> 00:24:51,200
Speaker 2: of Ronda Santis's platform.

456
00:24:52,359 --> 00:24:56,280
Speaker 10: We won't even get into how many supplementals and the

457
00:24:56,480 --> 00:24:59,240
Speaker 10: billions and hundreds of billions of dollars that were passed

458
00:24:59,480 --> 00:25:02,600
Speaker 10: when Crafts controlled the House of Representatives and not any

459
00:25:02,680 --> 00:25:05,720
Speaker 10: effort was made to cut federal spending to pay for them.

460
00:25:06,040 --> 00:25:09,720
Speaker 10: So let's just put that out there as a comparison

461
00:25:09,880 --> 00:25:14,240
Speaker 10: of the new administration of Mike Johnson the Speaker. Look,

462
00:25:14,359 --> 00:25:16,760
Speaker 10: I mean, it's it. The reality is this is not

463
00:25:16,920 --> 00:25:19,040
Speaker 10: enough money to make a dent in anybody's wallet, and

464
00:25:19,080 --> 00:25:19,960
Speaker 10: the federal government.

465
00:25:20,480 --> 00:25:20,680
Speaker 5: Uh.

466
00:25:20,800 --> 00:25:24,680
Speaker 10: And and the message to taxpayers is pretty clear by Republicans,

467
00:25:24,680 --> 00:25:27,680
Speaker 10: which is we're going to find pay fors. And and

468
00:25:27,880 --> 00:25:30,760
Speaker 10: there's not a there's not a voter I know who's

469
00:25:30,760 --> 00:25:33,560
Speaker 10: going to look underneath the spending patterns of the I

470
00:25:33,760 --> 00:25:35,359
Speaker 10: R s and figure out that it costs you a

471
00:25:35,440 --> 00:25:38,520
Speaker 10: dollar ten for every dollar you cut out of the

472
00:25:38,600 --> 00:25:39,119
Speaker 10: I R S.

473
00:25:39,240 --> 00:25:40,600
Speaker 5: I mean, uh, I get it.

474
00:25:41,040 --> 00:25:43,359
Speaker 10: You know, good policy, bad politics.

475
00:25:43,720 --> 00:25:47,440
Speaker 2: Yeah, there is Rick Davis knows and Genie Shanzeno. That's

476
00:25:47,480 --> 00:25:49,719
Speaker 2: why there are signature panel and they're up next with

477
00:25:49,800 --> 00:25:53,560
Speaker 2: more in the aftermath. If we call it that of

478
00:25:53,600 --> 00:25:57,520
Speaker 2: this UAW auto workers strike historic in size, but it

479
00:25:57,600 --> 00:25:59,720
Speaker 2: might just be the beginning. We'll have more on that ahead.

480
00:26:02,880 --> 00:26:06,359
Speaker 1: You're listening to the Bloomberg Sound on podcast. Catch us

481
00:26:06,400 --> 00:26:09,560
Speaker 1: live weekdays at one Eastern on Bloomberg dot com, the

482
00:26:09,680 --> 00:26:12,760
Speaker 1: iHeartRadio app, and the Bloomberg Business App, or listen on

483
00:26:12,800 --> 00:26:14,760
Speaker 1: demand wherever you get your podcast.

484
00:26:16,040 --> 00:26:21,679
Speaker 2: Big victory lap from the UAW President Sean fain Fist

485
00:26:21,760 --> 00:26:24,880
Speaker 2: bumping all three of the Big Three, or at least

486
00:26:24,880 --> 00:26:29,560
Speaker 2: his own members, that massive, historic in fact strike against

487
00:26:29,760 --> 00:26:34,359
Speaker 2: the Big three automakers for GM Stlantis now seemingly over.

488
00:26:34,520 --> 00:26:37,000
Speaker 2: The deals have not been ratified, but as we told yesterday,

489
00:26:37,080 --> 00:26:40,760
Speaker 2: tentative deals now officially struck with all three. The GM

490
00:26:40,960 --> 00:26:44,760
Speaker 2: was the most recent yesterday, with the headline now on

491
00:26:44,800 --> 00:26:48,440
Speaker 2: the terminal UA doub score's biggest wage hike this century

492
00:26:49,280 --> 00:26:54,160
Speaker 2: in the year of union wins. He's definitely feeling it

493
00:26:54,359 --> 00:26:57,879
Speaker 2: as I read the story from Bloomberg workers getting record

494
00:26:57,960 --> 00:27:02,520
Speaker 2: breaking wage hikes thanks to strategic strikes and stunning contract wins.

495
00:27:02,560 --> 00:27:04,840
Speaker 2: Of course, the most recent would be Sean fains.

496
00:27:04,680 --> 00:27:08,760
Speaker 15: We'd not always secured a record contract. We have begun

497
00:27:08,840 --> 00:27:11,840
Speaker 15: to turn the tide on the war on the American

498
00:27:11,880 --> 00:27:16,480
Speaker 15: working class, and we truly are saving the American dream.

499
00:27:16,720 --> 00:27:20,720
Speaker 2: Saving the American dream, and as he said yesterday, rebuilding

500
00:27:21,240 --> 00:27:26,000
Speaker 2: the American economy. Noting that there's a lot more where

501
00:27:26,000 --> 00:27:28,679
Speaker 2: this came from. The resolution of these strikes could be

502
00:27:28,760 --> 00:27:31,159
Speaker 2: just the beginning of a much greater movement that we

503
00:27:31,200 --> 00:27:35,120
Speaker 2: could argue begin with UPS and the Teamsters several months ago.

504
00:27:35,480 --> 00:27:38,840
Speaker 2: The actors are still at it in Hollywood. The Culinary

505
00:27:38,880 --> 00:27:41,520
Speaker 2: Workers Union in Las Vegas could be ready to tip off,

506
00:27:41,560 --> 00:27:44,600
Speaker 2: and there are others here to the point where he's

507
00:27:44,720 --> 00:27:50,280
Speaker 2: calling for a combined, nationwide organized labor strike on May

508
00:27:50,359 --> 00:27:54,480
Speaker 2: day of twenty twenty eight, when these contracts expire. Let's

509
00:27:54,480 --> 00:27:57,320
Speaker 2: reassemble our panel for their take. Rick Davis and Genie Shanzano,

510
00:27:57,359 --> 00:28:01,719
Speaker 2: Bloomberg Politics Contributors was talking to Lale Brainerd's last evening

511
00:28:01,800 --> 00:28:04,879
Speaker 2: on Balance of Power. Genie in My question was whether

512
00:28:05,160 --> 00:28:07,520
Speaker 2: the administration had let the genie out of the bottle here,

513
00:28:08,160 --> 00:28:10,200
Speaker 2: because this, in fact, maybe the tip of the iceberg

514
00:28:11,000 --> 00:28:14,080
Speaker 2: on what could be many labor actions that coincide with

515
00:28:14,119 --> 00:28:15,160
Speaker 2: an economic slowdown.

516
00:28:15,160 --> 00:28:15,680
Speaker 5: What do you think?

517
00:28:17,160 --> 00:28:19,760
Speaker 12: I do think it's possible, but I don't think there

518
00:28:19,800 --> 00:28:22,919
Speaker 12: is any question but that this strike, the way it

519
00:28:23,040 --> 00:28:25,440
Speaker 12: looks like it is going to be resolved in these

520
00:28:25,480 --> 00:28:30,000
Speaker 12: tentative agreements, is an enormous win for the workers. It's

521
00:28:30,119 --> 00:28:32,720
Speaker 12: I think, a good win for the auto industry as

522
00:28:32,720 --> 00:28:36,640
Speaker 12: a whole, and it's surely a really, really good win

523
00:28:36,720 --> 00:28:39,400
Speaker 12: for the president. He put a lot on the line

524
00:28:39,480 --> 00:28:42,120
Speaker 12: going out there and standing on that line for as

525
00:28:42,160 --> 00:28:44,680
Speaker 12: the first president to do that. He has made a

526
00:28:44,720 --> 00:28:47,880
Speaker 12: lot of promises to labor. He doesn't we don't see

527
00:28:47,880 --> 00:28:50,680
Speaker 12: a lot of those numbers reflected in the polls for sure,

528
00:28:51,200 --> 00:28:54,040
Speaker 12: but this is one of the many successes I think

529
00:28:54,120 --> 00:28:56,680
Speaker 12: we're going to see the President point to and of

530
00:28:56,720 --> 00:29:00,200
Speaker 12: course I think, you know, let's give credit to on

531
00:29:00,360 --> 00:29:04,840
Speaker 12: fame probably one of the most effective UAW leaders ever

532
00:29:04,960 --> 00:29:08,440
Speaker 12: in the uaw's history, and one of the most notable

533
00:29:08,560 --> 00:29:11,640
Speaker 12: new style labor leaders we've seen in this country for

534
00:29:11,720 --> 00:29:15,440
Speaker 12: so long. He really has made his mark. And there's

535
00:29:15,480 --> 00:29:18,800
Speaker 12: no question that as we see this trickle down, say

536
00:29:18,880 --> 00:29:23,760
Speaker 12: to the ev companies and others, that impact might be expanded.

537
00:29:23,880 --> 00:29:27,200
Speaker 12: So a good day all around if this works out

538
00:29:27,240 --> 00:29:29,640
Speaker 12: the way we think these tentative agreements will work out.

539
00:29:30,440 --> 00:29:33,840
Speaker 2: So Rick, you could argue that these deals, these wage

540
00:29:33,880 --> 00:29:37,080
Speaker 2: increases specifically, would not be necessary without the increase in

541
00:29:37,080 --> 00:29:41,480
Speaker 2: inflation that this administration has been trying to fight. But

542
00:29:41,560 --> 00:29:43,800
Speaker 2: we just saw Joe Biden on an actual picket line

543
00:29:43,840 --> 00:29:45,760
Speaker 2: and we were told that that was a history making

544
00:29:45,800 --> 00:29:49,560
Speaker 2: moment and that this was victory for this administration. Could

545
00:29:49,560 --> 00:29:53,200
Speaker 2: it bite back in the form of additional labor actions

546
00:29:53,200 --> 00:29:56,480
Speaker 2: that could create economic interruptions in the midst of an

547
00:29:56,520 --> 00:29:57,120
Speaker 2: election year.

548
00:29:58,160 --> 00:30:00,000
Speaker 10: Yeah, I don't think it's an accident that we've had

549
00:30:00,040 --> 00:30:04,560
Speaker 10: had these massive labor strikes during his presidency. He likes

550
00:30:04,560 --> 00:30:07,200
Speaker 10: to tout the fact that he's the most pro union

551
00:30:07,440 --> 00:30:10,640
Speaker 10: president of all time. He as you point out, actually

552
00:30:10,680 --> 00:30:13,520
Speaker 10: went down to a picket line, But he's intervened in

553
00:30:13,720 --> 00:30:18,000
Speaker 10: previous strikes, you know, on the side of the unions.

554
00:30:18,080 --> 00:30:21,200
Speaker 10: I mean, corporate in America knows exactly what they're getting

555
00:30:21,880 --> 00:30:26,640
Speaker 10: with Donald Trump and and and so or with Joe Biden.

556
00:30:26,680 --> 00:30:28,640
Speaker 10: But but I was just going to say, what's interesting

557
00:30:28,680 --> 00:30:33,360
Speaker 10: in the most recent Bloomberg Battleground States poll in seven

558
00:30:33,400 --> 00:30:35,960
Speaker 10: states they were going to matter in November, is Donald

559
00:30:35,960 --> 00:30:38,360
Speaker 10: Trump's picking up union support. He is the highest level

560
00:30:38,360 --> 00:30:41,800
Speaker 10: of union support of any president or any Republican running

561
00:30:41,840 --> 00:30:45,760
Speaker 10: for president in the last two decades. So whatever he's

562
00:30:45,920 --> 00:30:54,160
Speaker 10: doing to support these unions isn't necessarily translating to strength

563
00:30:54,200 --> 00:30:58,400
Speaker 10: on the ballot with union households. So you know, sure

564
00:30:58,640 --> 00:31:00,440
Speaker 10: there's going to be a battle royal go going on

565
00:31:01,440 --> 00:31:06,000
Speaker 10: related to unionization in America courtesy of Joe Biden's presidency,

566
00:31:06,960 --> 00:31:10,280
Speaker 10: and we'll see where it goes from here, But it

567
00:31:10,320 --> 00:31:12,800
Speaker 10: doesn't seem to be that politically viable strategy.

568
00:31:14,120 --> 00:31:16,280
Speaker 2: What do you think of this genie to union members

569
00:31:16,360 --> 00:31:19,240
Speaker 2: rank and file, those who are actually walking picket lines.

570
00:31:19,280 --> 00:31:23,000
Speaker 2: The UAW vote Biden because he showed up and was

571
00:31:23,000 --> 00:31:25,880
Speaker 2: on their side, or do they vote Trump because he

572
00:31:26,000 --> 00:31:29,800
Speaker 2: showed up, albeit at a non union shop, and felt

573
00:31:29,800 --> 00:31:30,240
Speaker 2: their pain.

574
00:31:31,440 --> 00:31:33,800
Speaker 12: You know, I think workers feel it's a win that

575
00:31:33,920 --> 00:31:36,600
Speaker 12: both of the leading candidates are trying to vie for

576
00:31:36,720 --> 00:31:38,960
Speaker 12: their support. I don't know where they end up in

577
00:31:39,000 --> 00:31:42,120
Speaker 12: twenty four, but if I was advising Joe Biden, I

578
00:31:42,160 --> 00:31:44,720
Speaker 12: would tell his team to do everything they can to

579
00:31:44,760 --> 00:31:49,120
Speaker 12: get Sean Fain the UAW endorsement and to get Sean

580
00:31:49,200 --> 00:31:52,240
Speaker 12: Fain working for them, because that is a guy who

581
00:31:52,320 --> 00:31:55,600
Speaker 12: has an effective message that appeals to workers. And I

582
00:31:55,640 --> 00:31:58,280
Speaker 12: think this is what's so exciting when you watch what

583
00:31:58,360 --> 00:32:01,320
Speaker 12: he has been able to do so far, is that

584
00:32:01,520 --> 00:32:04,840
Speaker 12: he has been able to reach workers in a way

585
00:32:04,880 --> 00:32:07,960
Speaker 12: that we haven't seen other UAW leaders do in the past.

586
00:32:08,040 --> 00:32:10,880
Speaker 12: Maybe it's because he's the first democratically elected It's hard

587
00:32:10,920 --> 00:32:13,719
Speaker 12: to tell, but it's certainly a lesson that the Biden

588
00:32:13,840 --> 00:32:17,280
Speaker 12: campaign team can take because their ability of the Biden

589
00:32:17,400 --> 00:32:20,760
Speaker 12: team and Democrats as a whole, sadly, to tell the

590
00:32:20,880 --> 00:32:23,880
Speaker 12: story about why their policies are in the best interests

591
00:32:23,880 --> 00:32:28,040
Speaker 12: of these workers has been utterly shut out by Trump

592
00:32:28,120 --> 00:32:30,520
Speaker 12: and the Republicans who have done a much better job

593
00:32:30,560 --> 00:32:34,120
Speaker 12: on that front. So kudos to them. But Democrats should

594
00:32:34,160 --> 00:32:37,240
Speaker 12: take a lesson and try very hard to emulate Sean

595
00:32:37,320 --> 00:32:40,440
Speaker 12: Fain's ability to make these cases, because he does it

596
00:32:40,680 --> 00:32:43,880
Speaker 12: very well, and he's done it effectively six weeks this

597
00:32:44,000 --> 00:32:47,960
Speaker 12: strike is taken. That's remarkable to imagine.

598
00:32:47,880 --> 00:32:50,960
Speaker 2: It is, Rick, we just have a minute left. Does

599
00:32:51,000 --> 00:32:53,120
Speaker 2: he have a future in elected politics? Would you run

600
00:32:53,200 --> 00:32:54,440
Speaker 2: Sean Faine as a Democrat?

601
00:32:55,920 --> 00:32:57,040
Speaker 5: Yeah, he's a dangerous guy.

602
00:32:57,040 --> 00:32:59,880
Speaker 10: I agree with Jeannie. He's got very good capability to

603
00:33:00,120 --> 00:33:02,920
Speaker 10: unicate this concept of a standing strike.

604
00:33:03,040 --> 00:33:04,080
Speaker 5: I thought was brilliant.

605
00:33:04,680 --> 00:33:07,400
Speaker 10: You can't argue with his results, and I just as

606
00:33:07,400 --> 00:33:09,480
Speaker 10: soon he get out of union politics and get into

607
00:33:09,560 --> 00:33:12,200
Speaker 10: national politics where we have a fair shot at him,

608
00:33:13,280 --> 00:33:14,200
Speaker 10: a fair shot.

609
00:33:14,320 --> 00:33:17,560
Speaker 2: How about a future labor secretary in a second Biden term.

610
00:33:18,960 --> 00:33:21,720
Speaker 10: I'd have to leave that to Genie's judgment. You know,

611
00:33:21,960 --> 00:33:24,280
Speaker 10: anything that gets him out of the union organizing business

612
00:33:24,320 --> 00:33:25,080
Speaker 10: would be good for me.

613
00:33:25,800 --> 00:33:27,600
Speaker 5: What do you think it was, Marty Walsh? Why not

614
00:33:27,680 --> 00:33:30,200
Speaker 5: Sean Fain? Jeanie, I think.

615
00:33:30,000 --> 00:33:31,320
Speaker 16: It's a brilliant idea.

616
00:33:31,480 --> 00:33:35,080
Speaker 12: Joe Matthew I know hopefully Biden is listening. They make

617
00:33:35,160 --> 00:33:38,280
Speaker 12: this move soon. It's brilliant idea, he'd be remarked.

618
00:33:38,320 --> 00:33:42,400
Speaker 2: I gottaware he's got to wear the white Camo golf shirts.

619
00:33:42,440 --> 00:33:45,280
Speaker 2: Though you can't change the attire if you come to Washington,

620
00:33:45,360 --> 00:33:48,480
Speaker 2: Sean Fain, I'm Joe Matthew with Rick and Jeanie morihead.

621
00:33:48,480 --> 00:33:49,440
Speaker 5: This is Bloomberg.

622
00:33:53,080 --> 00:33:56,480
Speaker 1: You're listening to the Bloomberg Sound On podcast. Catch the

623
00:33:56,480 --> 00:34:00,680
Speaker 1: program live weekdays at one Eastern on Bloomberg, the tune

624
00:34:00,720 --> 00:34:03,760
Speaker 1: in app, Bloomberg dot Com, and the Bloomberg Business App.

625
00:34:03,920 --> 00:34:06,760
Speaker 1: You can also listen live on Amazon Alexa from our

626
00:34:06,800 --> 00:34:11,280
Speaker 1: flagship New York station. Just say Alexa play Bloomberg. Eleven thirty.

627
00:34:13,239 --> 00:34:15,759
Speaker 2: Welcome to our two of Bloomberg Sound On. I'm Joe

628
00:34:15,760 --> 00:34:18,520
Speaker 2: Matthew in Washington. Join now by Kaylee Lyons. Kayy, It's

629
00:34:18,560 --> 00:34:21,600
Speaker 2: great to see you as lawmakers come back into town

630
00:34:21,640 --> 00:34:23,759
Speaker 2: and the real debate begins over the very topic that

631
00:34:23,800 --> 00:34:26,759
Speaker 2: we have been talking about for a couple of weeks. Now, well,

632
00:34:26,800 --> 00:34:28,560
Speaker 2: we were trying to get a speaker in place, and

633
00:34:28,600 --> 00:34:31,640
Speaker 2: that is the supplemental funding request from the White House,

634
00:34:31,640 --> 00:34:34,040
Speaker 2: which sounds really boring. When people use jargon like that

635
00:34:34,080 --> 00:34:37,480
Speaker 2: in Washington. It's the many billions of dollars the President

636
00:34:37,560 --> 00:34:40,080
Speaker 2: is asking for for Israel, for Ukraine.

637
00:34:39,800 --> 00:34:42,080
Speaker 16: And some other matters, many many billions, a lot of billions,

638
00:34:42,080 --> 00:34:44,320
Speaker 16: five billions, it's a lot of money. We're talking triple

639
00:34:44,320 --> 00:34:47,560
Speaker 16: digits here. And as you say, there are multiple parts

640
00:34:47,560 --> 00:34:50,520
Speaker 16: to this funding for Israel, for Ukraine, for Taiwan, even

641
00:34:50,520 --> 00:34:52,960
Speaker 16: border security. Trying to throw a little sweetener in there

642
00:34:53,120 --> 00:34:55,640
Speaker 16: for Republicans and yet doing it all as one big

643
00:34:55,680 --> 00:34:57,719
Speaker 16: package is not something the House of Representatives at the

644
00:34:57,760 --> 00:35:00,080
Speaker 16: very least seems very eager to do. We know that

645
00:35:00,120 --> 00:35:03,080
Speaker 16: they're working on a separate Israel bill fourteen billion dollars

646
00:35:03,120 --> 00:35:05,520
Speaker 16: in change of funding, but there's an offset, Joe, and

647
00:35:05,520 --> 00:35:07,080
Speaker 16: that's stripping money from the irs.

648
00:35:07,239 --> 00:35:07,600
Speaker 1: Yeah.

649
00:35:07,640 --> 00:35:10,480
Speaker 5: So we're going through this apparently every day with Mike Johnson.

650
00:35:10,520 --> 00:35:12,759
Speaker 2: Now the Speaker has to choose slightly different language every

651
00:35:12,800 --> 00:35:14,920
Speaker 2: way to say the same thing he's not bringing on

652
00:35:14,960 --> 00:35:17,520
Speaker 2: all the floor. It's going to be Israel only. The

653
00:35:17,560 --> 00:35:19,080
Speaker 2: one thing that remains the same with all of these

654
00:35:19,080 --> 00:35:20,400
Speaker 2: interviews is they're all on Fox.

655
00:35:20,600 --> 00:35:22,680
Speaker 5: Here's the latest interview on Fox.

656
00:35:24,080 --> 00:35:27,280
Speaker 14: Humor over there and have a very direct and thoughtful

657
00:35:27,280 --> 00:35:30,560
Speaker 14: conversation about this. I understand their priority is to bulke

658
00:35:30,640 --> 00:35:33,400
Speaker 14: up the IRS, but I think if you put this

659
00:35:33,400 --> 00:35:35,800
Speaker 14: to the American people and they weigh the two needs,

660
00:35:35,960 --> 00:35:38,160
Speaker 14: I think they're going to say, standing with Israel and

661
00:35:38,200 --> 00:35:41,480
Speaker 14: protecting the innocent over there is in our national interest

662
00:35:41,560 --> 00:35:45,959
Speaker 14: and is a more immediate need than IRS agents IRS agent.

663
00:35:46,080 --> 00:35:47,600
Speaker 5: So this is where things get interesting.

664
00:35:48,040 --> 00:35:51,040
Speaker 2: We didn't really talk a lot about offsets yesterday, but

665
00:35:51,160 --> 00:35:54,200
Speaker 2: this is what this has everyone in bunched up today

666
00:35:54,200 --> 00:35:56,440
Speaker 2: in Washington, is that they want to take money from

667
00:35:56,480 --> 00:35:59,880
Speaker 2: the IRS. Yes, that had been earmarked by the Biden administration,

668
00:36:00,080 --> 00:36:02,239
Speaker 2: by the way, a woefully hated, if you want, but

669
00:36:02,320 --> 00:36:06,200
Speaker 2: woefully underfunded agency, like the phones don't work or anything,

670
00:36:06,760 --> 00:36:11,040
Speaker 2: copiers are out of ink, toner, take that money, pay

671
00:36:11,080 --> 00:36:14,200
Speaker 2: for Israel, and the we zero things out on Capitol Hill.

672
00:36:14,480 --> 00:36:16,319
Speaker 5: Democrats don't like that idea at all.

673
00:36:16,520 --> 00:36:18,480
Speaker 16: Yeah, And I just wonder if the math really is

674
00:36:18,600 --> 00:36:21,640
Speaker 16: zeroing out because the RS is this is how you

675
00:36:21,640 --> 00:36:25,040
Speaker 16: get the revenue. So I wonder if net net it

676
00:36:25,120 --> 00:36:28,000
Speaker 16: becomes a not zero sum game but actually potentially a

677
00:36:28,040 --> 00:36:29,960
Speaker 16: negative someone and I feel like we should ask maybe

678
00:36:29,960 --> 00:36:31,000
Speaker 16: an expert about.

679
00:36:30,719 --> 00:36:32,640
Speaker 2: That we have one. By the way, we're going to

680
00:36:32,680 --> 00:36:34,640
Speaker 2: talk to Senator Rick Scott about this. I'm pretty sure

681
00:36:34,640 --> 00:36:36,480
Speaker 2: I know where he's going to come down on this one.

682
00:36:36,719 --> 00:36:39,520
Speaker 2: But Alex Zurden is with US Capital Peak Strategies, has

683
00:36:39,520 --> 00:36:41,319
Speaker 2: spent the life doing this stuff, or at least a career.

684
00:36:41,360 --> 00:36:41,640
Speaker 5: Alex.

685
00:36:41,680 --> 00:36:43,880
Speaker 2: It's wonderful to see you. Thanks for being at the

686
00:36:43,920 --> 00:36:47,520
Speaker 2: table here. I'm having trouble with the logic a little bit.

687
00:36:47,760 --> 00:36:50,400
Speaker 2: Rick Davis was arguing for offsets. We get that you

688
00:36:50,400 --> 00:36:53,360
Speaker 2: want to spend billions of dollars, but to take money

689
00:36:53,560 --> 00:36:57,239
Speaker 2: from the money generating machine, money that's actually being counted on,

690
00:36:58,400 --> 00:37:00,560
Speaker 2: I guess to Kaylle's point might be counter intuitive.

691
00:37:01,200 --> 00:37:03,120
Speaker 17: That's right, and thank you Joe and Kayley so much

692
00:37:03,120 --> 00:37:05,279
Speaker 17: for having that. Absolutely there's an idea here. You have

693
00:37:05,320 --> 00:37:07,120
Speaker 17: to spend money to make money, and I think that's

694
00:37:07,160 --> 00:37:10,480
Speaker 17: the example with resourcing the IRS. It has been chronically

695
00:37:10,600 --> 00:37:13,239
Speaker 17: underfunded for quite a while, and so what we need

696
00:37:13,280 --> 00:37:15,760
Speaker 17: to do and what Congress passed and the President's sign

697
00:37:16,280 --> 00:37:20,280
Speaker 17: was budget for it modernization to get out those problems

698
00:37:20,280 --> 00:37:23,080
Speaker 17: that you described. We're not on paper anymore. Unfortunately, the

699
00:37:23,080 --> 00:37:26,600
Speaker 17: IRS is working in too many manual processes, they're having

700
00:37:26,640 --> 00:37:29,520
Speaker 17: too many technical issues. And this was a glide path

701
00:37:29,600 --> 00:37:33,239
Speaker 17: over a number of years to improve resources for the IRS,

702
00:37:33,400 --> 00:37:36,160
Speaker 17: which is the largest independent bureau at the Treasury Apartment

703
00:37:36,360 --> 00:37:39,080
Speaker 17: and is where the US government collects tax revenue.

704
00:37:39,239 --> 00:37:42,720
Speaker 16: Okay, So if the IRS hypothetically had, say, fourteen billion

705
00:37:42,800 --> 00:37:46,560
Speaker 16: dollars less to work with, what actually happens inside the

706
00:37:46,600 --> 00:37:49,520
Speaker 16: IRS at that point, or maybe maybe a better question

707
00:37:49,600 --> 00:37:50,960
Speaker 16: is what won't happen.

708
00:37:51,239 --> 00:37:53,080
Speaker 17: Yeah, they're arguing that it is more efficient for a

709
00:37:53,120 --> 00:37:56,720
Speaker 17: tax collection, that they are able to improve the ability

710
00:37:56,719 --> 00:37:59,520
Speaker 17: for tax collection, so they're able to recoup more money

711
00:37:59,600 --> 00:38:03,759
Speaker 17: and leakage in tax inefficiencies, recover more money for the

712
00:38:03,760 --> 00:38:07,680
Speaker 17: government for money that people, companies, other entities owe to

713
00:38:07,719 --> 00:38:09,440
Speaker 17: the government, they actually collect that money.

714
00:38:09,800 --> 00:38:11,560
Speaker 2: Well, people talk about the IRS, and you know, we

715
00:38:11,560 --> 00:38:13,640
Speaker 2: went through this whole thing with armed guards or armed

716
00:38:13,680 --> 00:38:16,560
Speaker 2: agents knocking down your door last year, which was of course,

717
00:38:16,600 --> 00:38:18,600
Speaker 2: that did not turn out to be true or have

718
00:38:18,640 --> 00:38:20,840
Speaker 2: anything to do with the eighty billion dollars that the

719
00:38:20,920 --> 00:38:24,320
Speaker 2: IRS needed. Can you imagine, I mean, just as a

720
00:38:24,360 --> 00:38:26,520
Speaker 2: bit of a tangent here, how awful it would be

721
00:38:26,560 --> 00:38:28,719
Speaker 2: to work there. I mean, you're dealing with what like

722
00:38:28,760 --> 00:38:31,800
Speaker 2: windows ninety five machines that don't turn on, and the

723
00:38:32,640 --> 00:38:35,640
Speaker 2: you're dealing with really horrible resources and you're being asked

724
00:38:35,680 --> 00:38:38,319
Speaker 2: to do, you know, pretty dry work here. These aren't

725
00:38:38,320 --> 00:38:43,480
Speaker 2: people knocking down doors. They're actually processing your tax reserves,

726
00:38:43,520 --> 00:38:46,080
Speaker 2: which sounds like tedious.

727
00:38:45,600 --> 00:38:47,560
Speaker 5: Labor, and we need somebody to do it right.

728
00:38:47,640 --> 00:38:48,080
Speaker 16: Absolutely.

729
00:38:48,080 --> 00:38:49,600
Speaker 17: And the people I've worked with when I was at

730
00:38:49,600 --> 00:38:52,120
Speaker 17: Treasury in different parts of government, there or public servants.

731
00:38:52,120 --> 00:38:54,160
Speaker 17: They are civil servants, not there for the money. They're

732
00:38:54,160 --> 00:38:58,360
Speaker 17: there to help improve tax collection and improve public services

733
00:38:58,400 --> 00:39:01,480
Speaker 17: for everyday Americans, for all three hundred thirty million plus Americans.

734
00:39:01,520 --> 00:39:02,959
Speaker 11: And those are the people who I met.

735
00:39:03,200 --> 00:39:06,560
Speaker 17: IRS does have a small component for law enforcement IRS

736
00:39:06,600 --> 00:39:10,320
Speaker 17: criminal investigations, and they do critical work, and they investigate

737
00:39:10,360 --> 00:39:13,720
Speaker 17: cryptocurrency tax evasion. They go after some of the worst

738
00:39:13,760 --> 00:39:17,000
Speaker 17: of the worst criminal tax evators. So it's a necessary function,

739
00:39:17,120 --> 00:39:19,680
Speaker 17: but a small part of what the overall bureau does.

740
00:39:20,160 --> 00:39:22,520
Speaker 16: Okay, So to bring this conversation full circle, as you

741
00:39:22,560 --> 00:39:26,239
Speaker 16: talk about criminals, we also should talk about terrorists, or

742
00:39:26,280 --> 00:39:29,560
Speaker 16: at least designated terrorists by the US, because ultimately this

743
00:39:29,640 --> 00:39:33,520
Speaker 16: IRS conversation is tied to the Israel and himas conversation.

744
00:39:33,640 --> 00:39:35,719
Speaker 16: We actually are just getting headlines out from the White

745
00:39:35,760 --> 00:39:39,879
Speaker 16: House press briefing in which Admiral Kirby is the spokesperson

746
00:39:40,239 --> 00:39:43,200
Speaker 16: for the nsc IS talking. He says no indication that

747
00:39:43,280 --> 00:39:46,319
Speaker 16: Hamas has gotten any of the aid sent to Gaza,

748
00:39:46,360 --> 00:39:49,319
Speaker 16: and this speaks to the difficulty in trying to get

749
00:39:49,400 --> 00:39:53,120
Speaker 16: humanitarian aid in for innocent civilians while also not trying

750
00:39:53,120 --> 00:39:56,520
Speaker 16: to contribute in any way to the designated terrorist organization

751
00:39:56,960 --> 00:40:00,960
Speaker 16: and its activities. How hard is this kind of financing?

752
00:40:01,080 --> 00:40:03,399
Speaker 16: Right now, you exactly hit the nail on the head.

753
00:40:03,400 --> 00:40:07,080
Speaker 17: This is a constant balance for imposing sanctions against foreign

754
00:40:07,160 --> 00:40:10,600
Speaker 17: terrorist organizations like Hamas. Hamas has been designated since nineteen

755
00:40:10,680 --> 00:40:13,359
Speaker 17: ninety seven by the State Department, two thousand and one

756
00:40:13,880 --> 00:40:16,799
Speaker 17: by Treasury, and yet they've been able to assemble this

757
00:40:16,960 --> 00:40:21,400
Speaker 17: horrific militia, kill thousands of civilians and murder innocence and

758
00:40:21,440 --> 00:40:25,240
Speaker 17: take hostages, even with some of the most robust safeguards

759
00:40:25,280 --> 00:40:28,719
Speaker 17: in the world to combat terrorism financing. Meanwhile, the people

760
00:40:28,800 --> 00:40:30,920
Speaker 17: in Gaza are suffering, and so there's a need to

761
00:40:30,960 --> 00:40:35,920
Speaker 17: balance strict counter terrorism financing measures economic sanctions against Hamas.

762
00:40:35,920 --> 00:40:39,880
Speaker 17: Palastan Islamic jihad while ensuring that the safe, responsible delivery

763
00:40:39,920 --> 00:40:42,239
Speaker 17: of aid and aid resources get to those in need.

764
00:40:42,480 --> 00:40:45,799
Speaker 17: And this is attention We've seen here in Gaza, We've

765
00:40:45,800 --> 00:40:47,880
Speaker 17: seen it in Afghanistan where I've worked in the past.

766
00:40:48,040 --> 00:40:50,000
Speaker 17: We see it in many conflict zones around the world.

767
00:40:50,520 --> 00:40:52,000
Speaker 5: Well, so how do they move that money? How is

768
00:40:52,000 --> 00:40:52,720
Speaker 5: that money delivered?

769
00:40:52,920 --> 00:40:55,600
Speaker 2: We're sitting next to the crypto expert here and I'm

770
00:40:55,600 --> 00:40:58,120
Speaker 2: going to I'm sure Kaylee has more informed questions that

771
00:40:58,200 --> 00:41:00,279
Speaker 2: I'm going to ask. But to what extent do we

772
00:41:00,320 --> 00:41:03,080
Speaker 2: think and I've seen several reports about this, to what

773
00:41:03,160 --> 00:41:07,040
Speaker 2: extent was crypto used in funding Hamas and this attack?

774
00:41:07,360 --> 00:41:10,200
Speaker 17: So we're seeing evidence that Hamas and other terrorist groups

775
00:41:10,200 --> 00:41:12,960
Speaker 17: have raised money through crypto. It's not a significant amount

776
00:41:13,000 --> 00:41:15,239
Speaker 17: of money relative to the other sources of funding. But

777
00:41:15,680 --> 00:41:19,439
Speaker 17: according to Sender Loomis, I've also thought about this, there's

778
00:41:19,480 --> 00:41:22,759
Speaker 17: no diminimus amount for allowing terrorism financing. Any amount even

779
00:41:22,800 --> 00:41:25,880
Speaker 17: one dollar, as Senator Loomis said, is unacceptable, and I

780
00:41:25,880 --> 00:41:29,160
Speaker 17: take that position as well. So these organizations have raised

781
00:41:29,200 --> 00:41:32,000
Speaker 17: money though from Iran, and at least sixty to one

782
00:41:32,080 --> 00:41:34,680
Speaker 17: hundred million dollars a year are the reported estimates from

783
00:41:34,800 --> 00:41:38,960
Speaker 17: US Israeli sources. But Hamas controls territory in Gaza. They

784
00:41:39,040 --> 00:41:41,080
Speaker 17: raise at least three to four hundred million dollars a

785
00:41:41,200 --> 00:41:44,960
Speaker 17: year through taxation, through extortion, through other ways that they

786
00:41:45,000 --> 00:41:48,400
Speaker 17: control physical territory. They control the ground like ISIS, like

787
00:41:48,440 --> 00:41:51,280
Speaker 17: other terrorist groups. So it's really unique in that respect.

788
00:41:51,480 --> 00:41:53,759
Speaker 17: They were designated many years ago as a different type

789
00:41:53,800 --> 00:41:58,319
Speaker 17: of insurgent organization rogue terrorist organization. Now they governed, they

790
00:41:58,320 --> 00:42:01,680
Speaker 17: controlled territory, They oppress people in tax and extort them.

791
00:42:01,880 --> 00:42:03,840
Speaker 16: Yeah, as Joe knows, I've been talking a lot about

792
00:42:03,840 --> 00:42:05,879
Speaker 16: this over the course of the last several weeks, being

793
00:42:07,040 --> 00:42:09,719
Speaker 16: surrounded always by conversation in the crypto space, and there

794
00:42:09,760 --> 00:42:11,560
Speaker 16: was a Wall Street Journal article that a lot of

795
00:42:11,560 --> 00:42:15,560
Speaker 16: Senators latched onto that has been partially corrected. A lot

796
00:42:15,600 --> 00:42:18,359
Speaker 16: of pushback from the industry on the dollar figures really

797
00:42:18,400 --> 00:42:20,440
Speaker 16: at play here when it comes to crypto specifically as

798
00:42:20,480 --> 00:42:23,160
Speaker 16: a method of Hamas financing. But something else I hear

799
00:42:23,200 --> 00:42:25,320
Speaker 16: from a lot of people in the crypto industry is

800
00:42:25,360 --> 00:42:28,000
Speaker 16: that what's different about this is it is inherently traceable

801
00:42:28,040 --> 00:42:31,080
Speaker 16: because we're talking about transactions on a blockchain, and actually

802
00:42:31,160 --> 00:42:33,800
Speaker 16: that should make it easier to go after these people

803
00:42:33,880 --> 00:42:36,200
Speaker 16: or prevent this kind of financing versus say things that

804
00:42:36,239 --> 00:42:39,640
Speaker 16: happen in fiat currencies like the US dollar. What do

805
00:42:39,680 --> 00:42:40,160
Speaker 16: you say to that.

806
00:42:40,400 --> 00:42:41,160
Speaker 11: It's a bit of a mix.

807
00:42:41,200 --> 00:42:44,240
Speaker 17: There are aspects of cryptocurrency transactions that are very transparent,

808
00:42:44,280 --> 00:42:47,120
Speaker 17: that are on the open blockchain and publicly accessible. There

809
00:42:47,120 --> 00:42:49,840
Speaker 17: are number of transactions that occur though within exchanges or

810
00:42:49,840 --> 00:42:54,560
Speaker 17: within more opaque sources of transactional platforms, and that makes

811
00:42:54,560 --> 00:42:57,040
Speaker 17: it a lot harder to detect. Also, people are not

812
00:42:57,080 --> 00:42:59,640
Speaker 17: necessarily saying they're transacting in the name of Hamas or

813
00:42:59,640 --> 00:43:02,319
Speaker 17: I'm sent money to Hamas, and so you can be

814
00:43:02,360 --> 00:43:05,200
Speaker 17: sending money openly in the open, but it may be

815
00:43:05,840 --> 00:43:08,719
Speaker 17: obscuring the origins or destinations of those funds, which is

816
00:43:08,760 --> 00:43:11,319
Speaker 17: classic money laundering and terrorism financing typologies.

817
00:43:11,560 --> 00:43:14,719
Speaker 5: So to what extent then can our treasury?

818
00:43:14,760 --> 00:43:19,800
Speaker 2: Can the government interfere with monies going to Hamas.

819
00:43:20,400 --> 00:43:22,759
Speaker 17: So Treasury has taken a number of recent actions. They

820
00:43:22,800 --> 00:43:26,640
Speaker 17: designated a new network of Hamas related investments. They also

821
00:43:26,719 --> 00:43:30,719
Speaker 17: designated the first crypto exchange in Gaza about two weeks

822
00:43:30,760 --> 00:43:33,360
Speaker 17: ago as well. So Treasury is taking this incredibly seriously.

823
00:43:33,600 --> 00:43:36,160
Speaker 17: But it's not just the US alone. The US strategy

824
00:43:36,239 --> 00:43:39,920
Speaker 17: for combating terrorism financing globally and imposing sanctions is to

825
00:43:39,960 --> 00:43:43,120
Speaker 17: work with partners, and so you've seen senior Treasury officials

826
00:43:43,480 --> 00:43:46,479
Speaker 17: on the road in Europe, in Middle Eastern capitals as well,

827
00:43:46,760 --> 00:43:49,640
Speaker 17: to create more of an international coalition because most of

828
00:43:49,640 --> 00:43:52,439
Speaker 17: this activity is not occurring in the US but rather

829
00:43:52,640 --> 00:43:55,719
Speaker 17: in countries in the Middle East, and fundraising unfortunately also

830
00:43:55,800 --> 00:43:56,640
Speaker 17: occurring in Europe.

831
00:43:56,760 --> 00:43:57,800
Speaker 11: It's benefiting hamas.

832
00:43:58,200 --> 00:44:01,120
Speaker 16: So if you had one recommendation, what should be done

833
00:44:01,200 --> 00:44:04,799
Speaker 16: most easily or most immediately in terms of combating the

834
00:44:04,840 --> 00:44:08,080
Speaker 16: financing of terrorism. I don't know if easy is a

835
00:44:08,080 --> 00:44:11,200
Speaker 16: proper word to use here, because it might be very hard.

836
00:44:11,239 --> 00:44:11,920
Speaker 16: But what would it be?

837
00:44:12,040 --> 00:44:14,160
Speaker 17: Yeah, never easy in this context, But I think shutting

838
00:44:14,160 --> 00:44:17,520
Speaker 17: down loopholes particularly and more compliant jurisdictions in Europe and

839
00:44:17,560 --> 00:44:21,040
Speaker 17: the Middle East to actually take homos terrorism financing more

840
00:44:21,080 --> 00:44:23,960
Speaker 17: seriously as a legal and policy matter, those would be

841
00:44:24,000 --> 00:44:26,480
Speaker 17: the first places to start, and we're seeing Treasury in

842
00:44:26,520 --> 00:44:27,799
Speaker 17: the field doing that right now.

843
00:44:28,440 --> 00:44:32,440
Speaker 2: We're talking about money flows. It's kind of interesting on

844
00:44:32,520 --> 00:44:36,399
Speaker 2: both sides of this. To what extent do you view

845
00:44:36,400 --> 00:44:41,480
Speaker 2: this based on your experience as kind of a financial

846
00:44:41,520 --> 00:44:43,399
Speaker 2: war here. I realized there's a hot war that's being

847
00:44:43,440 --> 00:44:47,239
Speaker 2: fought in Gaza. But we're talking about money's billions of

848
00:44:47,280 --> 00:44:50,239
Speaker 2: dollars coming from all corners of the world here to

849
00:44:50,280 --> 00:44:53,239
Speaker 2: influence the outcome of this, specifically in Israel, but we

850
00:44:53,280 --> 00:44:54,920
Speaker 2: could talk about the same in Ukraine.

851
00:44:55,120 --> 00:44:57,880
Speaker 17: Absolutely, So the economic picture is part of the puzzle,

852
00:44:57,880 --> 00:45:00,680
Speaker 17: but it is diplomatic, is military and nature. Sanctions are

853
00:45:00,719 --> 00:45:03,120
Speaker 17: most effective when they are part of a broader policy

854
00:45:03,280 --> 00:45:06,000
Speaker 17: goal and policy outcome to change behavior, not just on

855
00:45:06,040 --> 00:45:08,279
Speaker 17: their own. They're never going to change the conflict on

856
00:45:08,320 --> 00:45:11,440
Speaker 17: their own here. There have been sanctions against Tamas for

857
00:45:11,480 --> 00:45:13,600
Speaker 17: the better part of two decades and they've had some

858
00:45:13,680 --> 00:45:17,080
Speaker 17: disruptive effects. But Hamas is also able to import a

859
00:45:17,160 --> 00:45:20,319
Speaker 17: large amount of military supplies from places like Iran. They're

860
00:45:20,360 --> 00:45:23,759
Speaker 17: able to get diplomatic support from allies and partners of

861
00:45:23,800 --> 00:45:26,960
Speaker 17: Theirs in the region, and so the economic piece is important,

862
00:45:27,239 --> 00:45:29,319
Speaker 17: but I don't think it's dispositive here, especially in the

863
00:45:29,320 --> 00:45:30,440
Speaker 17: midst of an active conflict.

864
00:45:30,560 --> 00:45:32,000
Speaker 5: I'm glad you come talk to us today.

865
00:45:32,160 --> 00:45:36,440
Speaker 2: Alex Surtain Capital Peak Strategies, longtime advisor for the National

866
00:45:36,480 --> 00:45:40,279
Speaker 2: Economic Council, bringing his experience from Treasury here to our

867
00:45:40,320 --> 00:45:43,120
Speaker 2: table at Bloomberg. Thanks for the insights today and come

868
00:45:43,120 --> 00:45:46,719
Speaker 2: back and see us again. Fascinating conversation, Kaylee, as we

869
00:45:46,760 --> 00:45:49,919
Speaker 2: bring things back to Capitol Hill now, so the Russell wrote,

870
00:45:49,960 --> 00:45:52,520
Speaker 2: Hunda and the Senator from Florida, as we told you,

871
00:45:53,120 --> 00:45:55,680
Speaker 2: standing by Senator Rick Scott. It's great to see you

872
00:45:55,680 --> 00:45:58,920
Speaker 2: and thanks for coming back to talk to us on Bloomberg. Senator,

873
00:45:58,920 --> 00:46:01,960
Speaker 2: I'd like to start with the matter of funding the

874
00:46:01,960 --> 00:46:04,520
Speaker 2: war effort in Israel, something that we were just talking

875
00:46:04,520 --> 00:46:07,239
Speaker 2: about here, and the Republican Speaker of the House less

876
00:46:07,239 --> 00:46:09,040
Speaker 2: than a week on the job, says he wants to

877
00:46:09,040 --> 00:46:12,840
Speaker 2: bring this to the floor this week as a standalone measure,

878
00:46:12,920 --> 00:46:16,640
Speaker 2: stripping it from funding for Ukraine, Taiwan and the border

879
00:46:16,719 --> 00:46:21,040
Speaker 2: as the White House has requested. Do you support that

880
00:46:21,120 --> 00:46:23,759
Speaker 2: approach or is there going to be a standoff here

881
00:46:23,800 --> 00:46:25,000
Speaker 2: now with the Senate in the House.

882
00:46:26,360 --> 00:46:29,880
Speaker 11: I completely support what the speakers doing. They're totally different issues.

883
00:46:31,600 --> 00:46:34,719
Speaker 11: I think there's unbelievable support for Israel and we need

884
00:46:34,760 --> 00:46:41,280
Speaker 11: to support Israel and what Hamas has done there beheading babies,

885
00:46:41,440 --> 00:46:46,480
Speaker 11: burning babies, raping young girls and burning them is just despicable.

886
00:46:46,920 --> 00:46:48,880
Speaker 11: So absolutely we need to do it, and we need

887
00:46:48,920 --> 00:46:51,320
Speaker 11: to do it as quickly as we can. With regard

888
00:46:51,320 --> 00:46:53,360
Speaker 11: to Ukraine, I've supported Ukraine Aid, but what we have

889
00:46:53,400 --> 00:46:54,880
Speaker 11: to do is let's go back and let's look at

890
00:46:54,920 --> 00:46:57,200
Speaker 11: where we are, how we're going to win, how the

891
00:46:57,200 --> 00:46:58,920
Speaker 11: money is going to be spent. I think there's a

892
00:46:58,960 --> 00:47:00,799
Speaker 11: lot of questions on Ukraine.

893
00:47:01,840 --> 00:47:04,279
Speaker 16: So on the Israel funding and your support of what

894
00:47:04,560 --> 00:47:07,120
Speaker 16: Speaker Johnson is doing here, could you get more specific?

895
00:47:07,120 --> 00:47:09,560
Speaker 16: Are you supportive of the idea of splitting that funding

896
00:47:09,600 --> 00:47:13,080
Speaker 16: out from a wider supplemental package or are you also

897
00:47:13,239 --> 00:47:16,920
Speaker 16: supportive of the idea of offsets being necessary, of taking

898
00:47:16,960 --> 00:47:19,640
Speaker 16: more than fourteen billion dollars from the IRS in order

899
00:47:19,680 --> 00:47:21,360
Speaker 16: to fund that aid for Israel.

900
00:47:22,520 --> 00:47:25,239
Speaker 11: Well, number one, I support separate in it out. We

901
00:47:25,280 --> 00:47:27,359
Speaker 11: ought to be doing. We should have done Israeli aid

902
00:47:27,440 --> 00:47:30,360
Speaker 11: last week, So let's get that done right away. I

903
00:47:30,360 --> 00:47:32,560
Speaker 11: think it's the right thing to do to start saying

904
00:47:32,560 --> 00:47:34,920
Speaker 11: how are we going to pay for these things? I'll

905
00:47:34,960 --> 00:47:37,840
Speaker 11: support whatever the House wants to do. There's conversations about

906
00:47:38,200 --> 00:47:41,640
Speaker 11: paying with it by reducing the number of new iOS agents,

907
00:47:41,640 --> 00:47:44,280
Speaker 11: which I've not found one person my state that's interested

908
00:47:44,280 --> 00:47:47,160
Speaker 11: in another iOS agent. But there's other ways to do it.

909
00:47:47,200 --> 00:47:49,480
Speaker 11: But I think it's important to continue to focus on

910
00:47:49,520 --> 00:47:51,839
Speaker 11: fiscal responsibility, so I'm glad the Speaker is doing that.

911
00:47:51,880 --> 00:47:54,200
Speaker 11: So I completely support the Speaker. And by the way,

912
00:47:54,680 --> 00:47:56,560
Speaker 11: the only way this is going to pass is that

913
00:47:56,640 --> 00:47:59,600
Speaker 11: the Republicans in the House pass it. So we need

914
00:47:59,680 --> 00:48:01,879
Speaker 11: just what the Speaker's trying to do. If we want

915
00:48:01,920 --> 00:48:04,239
Speaker 11: to get any Israeli ai done, then separately we can

916
00:48:04,280 --> 00:48:08,520
Speaker 11: have the conversation about Ukraine, the border, Taiwan, things like that.

917
00:48:09,840 --> 00:48:11,400
Speaker 2: I know you're not a big fund a big fan

918
00:48:11,520 --> 00:48:14,680
Speaker 2: of the IRS, Senator, I remember talking about that request

919
00:48:14,719 --> 00:48:18,359
Speaker 2: for eighty billion dollars for the agency over the last year.

920
00:48:18,760 --> 00:48:20,160
Speaker 5: Is that the right way to pay for this?

921
00:48:21,520 --> 00:48:25,120
Speaker 11: Absolutely? I haven't found one person in this country that

922
00:48:25,120 --> 00:48:27,919
Speaker 11: says they want to have more IRS agents, And maybe

923
00:48:27,960 --> 00:48:31,040
Speaker 11: somebody's applying for a job, they might want it, but no,

924
00:48:31,080 --> 00:48:34,399
Speaker 11: we that was a complete waste of money. But there's

925
00:48:34,440 --> 00:48:36,839
Speaker 11: other wastes of money too, So I think as we

926
00:48:36,880 --> 00:48:38,879
Speaker 11: look at whatever aid we're doing, we ought to say,

927
00:48:38,880 --> 00:48:40,120
Speaker 11: how are we going to pay for this? We have

928
00:48:40,160 --> 00:48:42,560
Speaker 11: thirty three plus trading dollars for the debt. We have

929
00:48:42,640 --> 00:48:45,920
Speaker 11: high inflation, high interest rates. We have to wake up

930
00:48:45,960 --> 00:48:47,640
Speaker 11: to this. We ought to wake up the week. We've

931
00:48:47,680 --> 00:48:50,319
Speaker 11: got to get our fiscal house in order, and that's

932
00:48:50,680 --> 00:48:51,560
Speaker 11: part of the way to do it.

933
00:48:52,960 --> 00:48:55,680
Speaker 16: You say, whatever aid we're doing, Senator, And I just wonder,

934
00:48:55,760 --> 00:48:58,840
Speaker 16: considering this is an emergency funding request. We don't typically

935
00:48:58,840 --> 00:49:02,440
Speaker 16: see offsets for emergency funding requests. And I just wonder,

936
00:49:02,560 --> 00:49:04,680
Speaker 16: are you worried about the precedent that may be said

937
00:49:04,680 --> 00:49:07,000
Speaker 16: here if one day we're talking about emergency funding not

938
00:49:07,120 --> 00:49:09,759
Speaker 16: for a war that's happening abroad, but for say a

939
00:49:09,840 --> 00:49:13,400
Speaker 16: humanitarian or natural disaster at home, like a hurricane in

940
00:49:13,520 --> 00:49:14,320
Speaker 16: the state of Florida.

941
00:49:16,200 --> 00:49:18,680
Speaker 11: Well, first, I support Israeli A I do think the

942
00:49:18,760 --> 00:49:20,680
Speaker 11: right thing to do is figure out a logical way

943
00:49:20,719 --> 00:49:22,879
Speaker 11: to pay for these things and whatever it is. I mean,

944
00:49:22,880 --> 00:49:25,120
Speaker 11: that's what your federal government ought to be doing. We

945
00:49:25,160 --> 00:49:27,480
Speaker 11: are to prioritize, just like you do with your family.

946
00:49:28,200 --> 00:49:31,120
Speaker 11: You say yourself, if I have an emergency, how am

947
00:49:31,120 --> 00:49:32,560
Speaker 11: I going to pay for it? That's what we all do.

948
00:49:32,640 --> 00:49:34,759
Speaker 11: Your federal government ought to be your state government's, every

949
00:49:34,800 --> 00:49:36,319
Speaker 11: government ought to be doing the exact same thing.

950
00:49:39,320 --> 00:49:41,960
Speaker 2: Well, Senator, I have to ask you about what you're

951
00:49:41,960 --> 00:49:45,960
Speaker 2: hearing from the leadership here, namely Mitch McConnell, who's frankly

952
00:49:46,000 --> 00:49:48,239
Speaker 2: sounding a lot like Chuck Schumer. And I'm not trying

953
00:49:48,280 --> 00:49:49,880
Speaker 2: to start a fight here, but when it comes to

954
00:49:50,880 --> 00:49:54,160
Speaker 2: tying Israel and Ukraine funding, here's what he said yesterday

955
00:49:54,160 --> 00:49:54,680
Speaker 2: in Louisville.

956
00:49:54,680 --> 00:49:56,520
Speaker 5: It's a quick remark, and we'll have you respond.

957
00:49:56,680 --> 00:50:00,400
Speaker 9: This is not just a test for Ukraine, tests for

958
00:50:00,480 --> 00:50:05,279
Speaker 9: the United States and for the free world. And the

959
00:50:05,320 --> 00:50:09,000
Speaker 9: path toward greater security for all of us is simple

960
00:50:10,000 --> 00:50:12,080
Speaker 9: help Ukraine when the war.

961
00:50:14,840 --> 00:50:17,239
Speaker 2: I wonder if you agree with Mitch McConnell when it

962
00:50:17,280 --> 00:50:22,160
Speaker 2: comes to Ukraine specifically, and might in fact vote for

963
00:50:22,280 --> 00:50:24,759
Speaker 2: a standalone Ukraine funding bill, But you said you had

964
00:50:24,800 --> 00:50:27,520
Speaker 2: problems with that, and I'm wondering where we might be

965
00:50:27,560 --> 00:50:29,880
Speaker 2: able to find common ground if it exists. Do you

966
00:50:29,920 --> 00:50:32,680
Speaker 2: want to see an audit of Ukraine funding? Do you

967
00:50:32,719 --> 00:50:35,760
Speaker 2: want a different measure of accountability? What are you telling,

968
00:50:35,800 --> 00:50:37,879
Speaker 2: Senator McConnell.

969
00:50:38,000 --> 00:50:41,719
Speaker 11: Well, first off, what the Biden administration is proposed has proposed,

970
00:50:41,800 --> 00:50:43,560
Speaker 11: is the fact that they want to give, they want

971
00:50:43,600 --> 00:50:46,680
Speaker 11: to tie Israeli aid to money for sanctuary cities. Well,

972
00:50:46,680 --> 00:50:49,200
Speaker 11: we have sanctuary cities because we have an open border.

973
00:50:49,600 --> 00:50:51,839
Speaker 11: So all these things are separate issues that we ought

974
00:50:51,880 --> 00:50:53,000
Speaker 11: to be dealing with, and we ought to deal with

975
00:50:53,040 --> 00:50:55,800
Speaker 11: them separately. Now, with regard to Ukraine, I want to

976
00:50:55,840 --> 00:50:58,239
Speaker 11: know how the money has been spent. I want to

977
00:50:58,239 --> 00:51:00,359
Speaker 11: look at how every dollar has been spent. That's what

978
00:51:00,920 --> 00:51:04,080
Speaker 11: my voters are telling me. I've been supportive of lethal

979
00:51:04,160 --> 00:51:06,600
Speaker 11: aid all along, but I want to have I want

980
00:51:06,600 --> 00:51:08,160
Speaker 11: to know what the plan is to win. It looks

981
00:51:08,160 --> 00:51:11,040
Speaker 11: like the Biden administration is planning just have a long war,

982
00:51:11,200 --> 00:51:13,840
Speaker 11: not to win. If we are going to help Ukraine,

983
00:51:13,920 --> 00:51:14,919
Speaker 11: let's help Ukraine win.

984
00:51:18,239 --> 00:51:20,920
Speaker 16: So when you say let's help Ukraine win and you

985
00:51:21,000 --> 00:51:23,760
Speaker 16: want to know, you know ultimately you have some questions

986
00:51:23,800 --> 00:51:27,920
Speaker 16: that you would like answered here. Do you do you

987
00:51:27,960 --> 00:51:31,239
Speaker 16: worry that in the attempt to get those answers, or

988
00:51:31,320 --> 00:51:33,920
Speaker 16: that the answers cannot be that specific because this is

989
00:51:33,960 --> 00:51:38,240
Speaker 16: a war we're talking about and it's inherently unpredictable in nature.

990
00:51:39,320 --> 00:51:40,880
Speaker 11: Well, at least we ought to try. We ought to

991
00:51:40,880 --> 00:51:43,600
Speaker 11: try to get the information we had to know exactly

992
00:51:43,600 --> 00:51:45,759
Speaker 11: where the money is gone that we've spent that's not

993
00:51:45,840 --> 00:51:48,680
Speaker 11: that shouldn't be hard to do, Otherwise they've lost track

994
00:51:48,719 --> 00:51:51,040
Speaker 11: of the money. We ought to know exactly what the

995
00:51:51,040 --> 00:51:53,759
Speaker 11: Bide administration's plan to win is. That shouldn't be hard

996
00:51:53,800 --> 00:51:55,759
Speaker 11: to do, doesn't means it might not change down the

997
00:51:55,840 --> 00:51:58,799
Speaker 11: road as the war changes. But there's information. But you know,

998
00:51:58,920 --> 00:52:01,200
Speaker 11: this idea that we just going to say, oh, we're

999
00:52:01,239 --> 00:52:05,040
Speaker 11: doing this, We're going to throw all this money at problems,

1000
00:52:05,280 --> 00:52:06,920
Speaker 11: I mean, that makes no sense to me. I mean,

1001
00:52:06,960 --> 00:52:11,239
Speaker 11: we need to be responsible with taxpayer money and I plan.

1002
00:52:11,680 --> 00:52:14,760
Speaker 11: I've said that all along. But these are all different issues.

1003
00:52:16,360 --> 00:52:19,719
Speaker 2: The argument from Leader McConnell, and for that matter, I

1004
00:52:19,719 --> 00:52:23,600
Speaker 2: guess the Leader Schumer and President Biden for that matter,

1005
00:52:23,680 --> 00:52:25,680
Speaker 2: is that they are intertwined. That was the word that

1006
00:52:25,719 --> 00:52:29,960
Speaker 2: Mitch McConnell used yesterday, that these are national security threats

1007
00:52:30,000 --> 00:52:32,279
Speaker 2: that have everything to do with each other.

1008
00:52:32,560 --> 00:52:33,319
Speaker 5: Are you starting to.

1009
00:52:33,280 --> 00:52:38,160
Speaker 2: Doubt that case, Senator when it comes to Ukraine.

1010
00:52:37,239 --> 00:52:39,800
Speaker 11: Well, first off, let's remember this. We have a Republican

1011
00:52:40,160 --> 00:52:42,600
Speaker 11: speaker in the House and he has said he's going

1012
00:52:42,640 --> 00:52:45,279
Speaker 11: to do the Israeli Aid independently. So whatever we want

1013
00:52:45,320 --> 00:52:47,400
Speaker 11: to do over here, all we're doing is if we

1014
00:52:47,440 --> 00:52:50,560
Speaker 11: try to do something that's a global solution. Is we're

1015
00:52:50,640 --> 00:52:53,560
Speaker 11: undermining what our Republican speaker in the House does, and

1016
00:52:53,600 --> 00:52:55,480
Speaker 11: we're in the majority in the House, so what we

1017
00:52:55,520 --> 00:52:57,799
Speaker 11: ought to be doing is listen to them, take what

1018
00:52:57,840 --> 00:52:59,839
Speaker 11: they give this. If we want to make that better,

1019
00:53:00,120 --> 00:53:02,920
Speaker 11: us do that. But let's go support a new Republican

1020
00:53:03,040 --> 00:53:07,400
Speaker 11: speaker in the House to get what he wants done.

1021
00:53:07,640 --> 00:53:10,120
Speaker 11: And we can still do Ukraine AID. Don't say we're

1022
00:53:10,160 --> 00:53:11,680
Speaker 11: never going to do Ukraine A, but we've been talking

1023
00:53:11,680 --> 00:53:14,040
Speaker 11: about this for months and nobody wants to give us

1024
00:53:14,040 --> 00:53:16,120
Speaker 11: the information so we can make an informed decision.

1025
00:53:18,080 --> 00:53:20,800
Speaker 16: Okay, I understand what you're saying about the Republicans. Do

1026
00:53:20,880 --> 00:53:22,680
Speaker 16: you have control of the House, But the fact is

1027
00:53:22,719 --> 00:53:25,000
Speaker 16: the Democrats do have control of the Senate. So not

1028
00:53:25,080 --> 00:53:27,080
Speaker 16: just on this issue, but also all of the funding

1029
00:53:27,080 --> 00:53:29,759
Speaker 16: battles to come. Knowing we're facing down this deadline of

1030
00:53:29,800 --> 00:53:32,160
Speaker 16: November seventeenth, how hard do you think it is going

1031
00:53:32,239 --> 00:53:35,600
Speaker 16: to be able to reconcile the two chambers here in

1032
00:53:35,640 --> 00:53:36,400
Speaker 16: what they want to do.

1033
00:53:38,120 --> 00:53:41,000
Speaker 11: Well, hopefully we'll be able to reconcile it. It takes

1034
00:53:41,000 --> 00:53:42,719
Speaker 11: sixty votes to pass up in the SIDENTCE, so it

1035
00:53:42,719 --> 00:53:45,319
Speaker 11: takes Republican support to get something done over here, and

1036
00:53:45,360 --> 00:53:48,000
Speaker 11: my belief is we are to start by supporting the

1037
00:53:48,040 --> 00:53:51,400
Speaker 11: new Republican speaker in the House. So my goal is

1038
00:53:51,400 --> 00:53:54,040
Speaker 11: tot's start passing the proparation's bills. I don't know why

1039
00:53:54,080 --> 00:53:56,359
Speaker 11: we haven't done this before. I'm a business guy. You

1040
00:53:56,440 --> 00:53:58,879
Speaker 11: have a budget, you follow your budget, and you live

1041
00:53:58,880 --> 00:54:01,399
Speaker 11: within your means doing that. Up here, we don't even

1042
00:54:01,680 --> 00:54:03,480
Speaker 11: talk about that. We didn't even start talking about the

1043
00:54:03,520 --> 00:54:06,239
Speaker 11: budget until sometime in September and the fiscal year in

1044
00:54:06,280 --> 00:54:08,440
Speaker 11: September thirty. That doesn't make any sense to me. I've

1045
00:54:08,440 --> 00:54:11,279
Speaker 11: been up here five years. It's every year because the

1046
00:54:11,360 --> 00:54:15,240
Speaker 11: leadership here wants to do these gigantic omnibus that nobody

1047
00:54:15,239 --> 00:54:16,799
Speaker 11: knows what's in it that we've never read.

1048
00:54:19,200 --> 00:54:22,720
Speaker 2: I want to ask you about the new speaker. Senator,

1049
00:54:22,760 --> 00:54:24,520
Speaker 2: you were, of course a member of the House. You

1050
00:54:24,600 --> 00:54:27,080
Speaker 2: know what it's like in a different culture than that

1051
00:54:27,160 --> 00:54:31,080
Speaker 2: of the Senate. Do you know Mike Johnson and what

1052
00:54:31,360 --> 00:54:35,760
Speaker 2: comes from that whole exercise with Steve Scalise, Tom Emmer,

1053
00:54:36,600 --> 00:54:39,840
Speaker 2: Jim Jordan. I know that you've worked with all of them.

1054
00:54:40,719 --> 00:54:44,960
Speaker 2: That public display of chaos that some might say, although

1055
00:54:45,000 --> 00:54:47,480
Speaker 2: Tom Emmer said it was a great display of democracy,

1056
00:54:47,520 --> 00:54:50,160
Speaker 2: what did the Republican Party get for all that drama?

1057
00:54:51,480 --> 00:54:54,680
Speaker 11: Oh they got a great leader. Here's what they got.

1058
00:54:55,000 --> 00:54:57,359
Speaker 11: It's no different, no different than what why I ran

1059
00:54:57,400 --> 00:54:59,799
Speaker 11: against Mitch McConnell year ago. I ran because I think

1060
00:54:59,840 --> 00:55:02,799
Speaker 11: we ought to work as a team. We ought to say,

1061
00:55:02,840 --> 00:55:05,719
Speaker 11: what's how do we as a team do the right

1062
00:55:05,719 --> 00:55:08,560
Speaker 11: things for the American public to our voters. And I

1063
00:55:08,640 --> 00:55:11,560
Speaker 11: think that's exactly what happened in the House. They picked

1064
00:55:11,560 --> 00:55:14,440
Speaker 11: somebody that they think will be a great team leader,

1065
00:55:15,000 --> 00:55:17,320
Speaker 11: but everybody's going to have a voice, and that's exactly

1066
00:55:17,400 --> 00:55:20,280
Speaker 11: exactly what they wanted. I had a great working relationship

1067
00:55:20,320 --> 00:55:22,800
Speaker 11: with Kevin McCarthy and Steve Scalice and Tom Emmer and

1068
00:55:22,880 --> 00:55:27,160
Speaker 11: Jim Jordan. They're wonderful people. But what the House wanted

1069
00:55:27,280 --> 00:55:30,200
Speaker 11: was somebody that, you know, felt they felt more cupable,

1070
00:55:30,200 --> 00:55:31,360
Speaker 11: would give everybody a voice.

1071
00:55:33,120 --> 00:55:35,960
Speaker 16: Senator, do you really think the Republican conference in the

1072
00:55:35,960 --> 00:55:38,279
Speaker 16: House is a team right now? When there were eight

1073
00:55:38,320 --> 00:55:40,880
Speaker 16: members who kicked out the former speaker and there's just

1074
00:55:40,920 --> 00:55:43,680
Speaker 16: a lot of disjointedness in general.

1075
00:55:45,320 --> 00:55:47,600
Speaker 11: Well, first off, everybody ought to be representing their district,

1076
00:55:48,000 --> 00:55:50,120
Speaker 11: and everybody in the Centate ought to be representing their state,

1077
00:55:50,600 --> 00:55:52,920
Speaker 11: and we ought to find common ground. And it shouldn't

1078
00:55:52,920 --> 00:55:55,880
Speaker 11: be you know, there's Democrats should have the same positions

1079
00:55:55,920 --> 00:55:59,000
Speaker 11: I have because it's good for their state. Their Republics

1080
00:55:59,040 --> 00:56:01,120
Speaker 11: might not have the same position because they might think

1081
00:56:01,160 --> 00:56:03,239
Speaker 11: it's something's better for their state. That's how we ought

1082
00:56:03,280 --> 00:56:06,400
Speaker 11: to be governing ourselves up here. But absolutely, my experience

1083
00:56:06,440 --> 00:56:10,040
Speaker 11: with the House is they want to work as a team.

1084
00:56:10,400 --> 00:56:12,160
Speaker 11: If you look at what they did earlier this year,

1085
00:56:12,800 --> 00:56:14,880
Speaker 11: when a lot of people in the House had never

1086
00:56:14,960 --> 00:56:17,000
Speaker 11: voted for a debt ceiling deal, they voted for a

1087
00:56:17,040 --> 00:56:19,960
Speaker 11: debt ceiling deal that was going to make some structural changes.

1088
00:56:20,320 --> 00:56:23,520
Speaker 11: They were frustrated when that's not what ultimately passed, but

1089
00:56:23,560 --> 00:56:25,600
Speaker 11: that's what passed out of the House first. So absolutely

1090
00:56:25,960 --> 00:56:27,399
Speaker 11: there's a team over in the House and I look

1091
00:56:27,400 --> 00:56:28,719
Speaker 11: forward to working with them.

1092
00:56:30,320 --> 00:56:32,080
Speaker 2: Senator, I have to ask you about what's happening on

1093
00:56:32,120 --> 00:56:34,480
Speaker 2: the campaign trail. Of course, your governor in Florida is

1094
00:56:34,719 --> 00:56:37,960
Speaker 2: running for the Republican nomination, and Ron DeSantis has been

1095
00:56:38,040 --> 00:56:41,440
Speaker 2: running into some issues on the campaign trail when it

1096
00:56:41,440 --> 00:56:42,040
Speaker 2: comes to polling.

1097
00:56:42,080 --> 00:56:44,200
Speaker 5: When it comes to fundraising a.

1098
00:56:44,280 --> 00:56:48,719
Speaker 2: Campaign trail dominated clearly by Donald Trump. I wonder if

1099
00:56:48,760 --> 00:56:50,840
Speaker 2: you think it's time for the governor to come home

1100
00:56:51,280 --> 00:56:53,000
Speaker 2: and focus on business in Florida.

1101
00:56:54,640 --> 00:56:56,719
Speaker 11: Well, I would never suggest that they get out of

1102
00:56:56,719 --> 00:56:59,000
Speaker 11: a race. I remember when I got into a primary

1103
00:56:59,560 --> 00:57:01,759
Speaker 11: back into twenty ten, everybody in DC told me to

1104
00:57:01,760 --> 00:57:03,480
Speaker 11: get out of the race. So now we never do that.

1105
00:57:03,840 --> 00:57:05,959
Speaker 11: But if you look at the polling numbers right now,

1106
00:57:06,280 --> 00:57:09,160
Speaker 11: Donald Trump has a commanding lead. It's very difficult to

1107
00:57:09,200 --> 00:57:13,120
Speaker 11: beat in a prior president, somebody that when he left office,

1108
00:57:13,120 --> 00:57:14,799
Speaker 11: he can say we had a great economy, we had

1109
00:57:14,800 --> 00:57:17,040
Speaker 11: secure border, we weren't at war. Some of the major

1110
00:57:17,040 --> 00:57:19,800
Speaker 11: issues we have now he'd actually dealt with. So I

1111
00:57:20,520 --> 00:57:23,280
Speaker 11: think it's hard to beat Donald Trump. But you know,

1112
00:57:23,000 --> 00:57:25,680
Speaker 11: if you want to run for any office, including president,

1113
00:57:25,680 --> 00:57:27,120
Speaker 11: do you ought to go run and see how will

1114
00:57:27,160 --> 00:57:27,360
Speaker 11: you do.

1115
00:57:29,920 --> 00:57:32,600
Speaker 16: Yeah, that's a very good point. And of course there's

1116
00:57:32,640 --> 00:57:35,160
Speaker 16: a lot of other Republicans running for president at this point,

1117
00:57:35,200 --> 00:57:38,520
Speaker 16: though it does look like Donald Trump remains the front runner.

1118
00:57:38,840 --> 00:57:42,040
Speaker 16: What influence does Trump have whether or not he retakes

1119
00:57:42,040 --> 00:57:44,720
Speaker 16: the oval office, remaining on the Republican Party in both

1120
00:57:44,720 --> 00:57:47,080
Speaker 16: the Senate and the House. Do you think how influential

1121
00:57:47,160 --> 00:57:48,160
Speaker 16: is he in those halls?

1122
00:57:49,840 --> 00:57:51,920
Speaker 11: Well, I think all of us are trying to represent

1123
00:57:52,200 --> 00:57:55,760
Speaker 11: what we believe in and our voters. And I know

1124
00:57:55,880 --> 00:57:59,120
Speaker 11: that's you know my experience with President Trump and other Republicans,

1125
00:57:59,120 --> 00:58:02,720
Speaker 11: that's what they're doing, and so I think we all,

1126
00:58:02,760 --> 00:58:06,240
Speaker 11: hopefully we all have some impact on what's going on

1127
00:58:06,280 --> 00:58:08,160
Speaker 11: out there. I'd do my best to try to represent

1128
00:58:08,720 --> 00:58:12,040
Speaker 11: the twenty two million people that live in Florida.

1129
00:58:12,440 --> 00:58:15,200
Speaker 2: Senator Rick Scott, we appreciate the time as always, sir,

1130
00:58:15,480 --> 00:58:18,080
Speaker 2: Come back and see us again soon on Bloomberg of course,

1131
00:58:18,120 --> 00:58:21,240
Speaker 2: the Republican from Florida joining us live from Capitol Hill

1132
00:58:21,280 --> 00:58:23,600
Speaker 2: here on the radio, on the satellite, and on YouTube.

1133
00:58:24,200 --> 00:58:26,320
Speaker 5: You can find us on YouTube right now.

1134
00:58:26,880 --> 00:58:30,240
Speaker 2: If you've got a little fomo search Bloomberg Global News,

1135
00:58:30,240 --> 00:58:31,920
Speaker 2: you could have been watching the Senator in the Russell

1136
00:58:32,000 --> 00:58:34,960
Speaker 2: Rotunda that whole time, framed by the beautiful marble of

1137
00:58:34,960 --> 00:58:35,560
Speaker 2: Capitol Hill.

1138
00:58:36,240 --> 00:58:39,320
Speaker 5: Kaylee, interesting conversation with the Senator.

1139
00:58:39,640 --> 00:58:42,000
Speaker 2: Everyone's being very careful, and when I say everyone, I

1140
00:58:42,040 --> 00:58:44,360
Speaker 2: mean establishment Republicans on Capitol Hill.

1141
00:58:44,560 --> 00:58:48,520
Speaker 16: Yes, but he was pretty firm on he supports Mike

1142
00:58:48,640 --> 00:58:50,320
Speaker 16: Johnson and what he's trying to do in the House

1143
00:58:50,360 --> 00:58:52,440
Speaker 16: when it comes to Israel funding, both on the idea

1144
00:58:52,760 --> 00:58:55,680
Speaker 16: of treating it separately but also the idea of offsetting

1145
00:58:55,720 --> 00:58:58,200
Speaker 16: it by pulling more than fourteen billion dollars in funding

1146
00:58:58,280 --> 00:59:00,880
Speaker 16: from the IRS. He seemed very sotive of the speaker

1147
00:59:00,880 --> 00:59:01,480
Speaker 16: in that regard.

1148
00:59:01,640 --> 00:59:04,080
Speaker 2: But for sure, and maybe I should qualify that to say,

1149
00:59:04,200 --> 00:59:08,880
Speaker 2: careful to overstep while he's establishing himself. Nobody wants to

1150
00:59:08,920 --> 00:59:12,200
Speaker 2: say anything that might rattle the speaker or make things

1151
00:59:12,280 --> 00:59:13,400
Speaker 2: look like there was.

1152
00:59:13,360 --> 00:59:15,240
Speaker 5: A problem selecting a speaker.

1153
00:59:16,120 --> 00:59:20,400
Speaker 2: Tom Emmer said it the greatest ever moment to democracy.

1154
00:59:20,320 --> 00:59:22,439
Speaker 5: Yeah, I'm not sure that it'll go down as such.

1155
00:59:23,720 --> 00:59:25,640
Speaker 5: Thanks for listening to The Sound On podcast.

1156
00:59:25,680 --> 00:59:28,800
Speaker 2: Make sure to subscribe if you haven't already, at Apple, Spotify,

1157
00:59:28,880 --> 00:59:31,320
Speaker 2: and anywhere else you get your podcasts. And you can

1158
00:59:31,320 --> 00:59:34,320
Speaker 2: find us live every weekday from Washington, DC at one

1159
00:59:34,360 --> 00:59:35,120
Speaker 2: pm Eastern

1160
00:59:35,160 --> 00:59:38,800
Speaker 5: Time at Bloomberg dot com.