WEBVTT - Surveillance Special: White House Response to COVID-19

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<v Speaker 1>This is a special RUPERT Surveillance podcast with our chief

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<v Speaker 1>Washington correspondent Kevin Cirelli. Kevin spent the day talking to

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<v Speaker 1>officials in the halls of the West Wing, and we're

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<v Speaker 1>putting those conversations together for you in this special podcast.

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<v Speaker 1>Let's get straight to it now. Here is Kevin Cirelli.

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<v Speaker 1>Dr Burks, thanks so much for joining us. I want

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<v Speaker 1>to ask you, there's been this uptick in cases and

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<v Speaker 1>what is the administration doing in order to get these

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<v Speaker 1>cases back down? Yeah? Thank you. That's a really terrific

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<v Speaker 1>question because the current uptick in places that now extends

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<v Speaker 1>really from Washington State through Oregon into California, across Arizona,

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<v Speaker 1>New Mexico, and then of course Mississippi, Alabama, Florida, Texas

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<v Speaker 1>UM is really a very critical outbreak that needs to

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<v Speaker 1>be contained. And I think collectively, I was just out

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<v Speaker 1>in the field going to UM Texas, Erazon and New

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<v Speaker 1>Mexico and Florida and really getting it on the ground,

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<v Speaker 1>report and experience to understand how we can be even

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<v Speaker 1>more supportive. I think we're supporting their testing and we're

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<v Speaker 1>supporting increased human capacity at their hospitals. But I want

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<v Speaker 1>to really applaud the governors have taken decisive action to

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<v Speaker 1>really mandate masks, increase social distancing, clothes bars, ensure that

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<v Speaker 1>um if you can't social distance, and an indoor restaurant,

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<v Speaker 1>really decreasing that capacity of indoor restaurants, moving dining outside,

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<v Speaker 1>and really talking to the people in their metro areas

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<v Speaker 1>and their counties and what each individual needs to do.

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<v Speaker 1>We all need to do all of these things. We

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<v Speaker 1>also have to make sure that we're not bringing that

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<v Speaker 1>virus into our households by having parties then inside the houses.

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<v Speaker 1>So I think there's a lot we can do as

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<v Speaker 1>individual Americans, but there's a lot we can do at

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<v Speaker 1>the state and local and federal level to support that

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<v Speaker 1>response and change the course of this really this pandemic

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<v Speaker 1>across the South, but also now up the West coast.

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<v Speaker 1>And Dr Burke's I mean, some of the numbers, it's

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<v Speaker 1>astounding to see how young people. Young people are really

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<v Speaker 1>seeing a lot of the upticking cases and they're making

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<v Speaker 1>some poor decisions. They're going to bars, they're going to

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<v Speaker 1>you know, we all see the images on the news.

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<v Speaker 1>How do we prevent young people from getting these infections?

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<v Speaker 1>I think there's two pieces of that want us to

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<v Speaker 1>be very honest with them and to tell them that

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<v Speaker 1>there's a spectrum of disease and young people that truly

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<v Speaker 1>they will know people who are test positive that have

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<v Speaker 1>no symptoms. They will know people with mild like only

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<v Speaker 1>a sore throat and a running nose. They will know

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<v Speaker 1>people who got a bad fever and we're sick for

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<v Speaker 1>two weeks. And they need to know that there's also

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<v Speaker 1>young Americans who are in the hospitals right now suffering

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<v Speaker 1>from very severe disease. And so there is a spectrum.

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<v Speaker 1>I think when they saw that a lot of their

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<v Speaker 1>friends had mild disease and then they saw in social

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<v Speaker 1>media that people were having a great time together, you know,

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<v Speaker 1>they wanted to have a great time together too. And

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<v Speaker 1>it's now on all of us to really change those messages,

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<v Speaker 1>to really resonate with our millennials and gencs so that

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<v Speaker 1>understand the risk those decisions make not only to them

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<v Speaker 1>potentially getting infected, but their parents getting infected and critically

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<v Speaker 1>their their grandparents who maybe in their eighties getting infected,

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<v Speaker 1>all which we know have a very severe course. And

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<v Speaker 1>so I think translating that message into something that people

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<v Speaker 1>not only here, but act on is really critical. Sometimes

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<v Speaker 1>in public help we just keep saying the same thing

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<v Speaker 1>over and over again and think that you know, eventually

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<v Speaker 1>it will resonate. No people turn off, So we really

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<v Speaker 1>have to make messages much more tailored to very specific

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<v Speaker 1>age groups so that they only can hear the message,

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<v Speaker 1>but internalize it and then change their behavior to really

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<v Speaker 1>protect themselves there their friends who may have pre existing condition,

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<v Speaker 1>and protecting others by really being in masks all the time.

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<v Speaker 1>We can get through this until we have a vaccine

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<v Speaker 1>if we all do our part. Dr Burks, You've been

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<v Speaker 1>so generous with your time, and I want to talk

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<v Speaker 1>about another portion of this that quite frankly, I don't

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<v Speaker 1>think economists are talking enough about, and that is from

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<v Speaker 1>an economic perspective. A lot of parents have children who

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<v Speaker 1>are potentially going back to school in the fall, or

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<v Speaker 1>they're unsure if kids are going to be going back

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<v Speaker 1>to school, Dr Burke's in the fall. So number one,

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<v Speaker 1>how should schools be preparing for the potential reopening of schools?

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<v Speaker 1>And secondly, just as important, what is the government doing

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<v Speaker 1>in order to make sure that the classrooms are safe

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<v Speaker 1>and clean and healthy for these kids? Well? I think

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<v Speaker 1>you've raised a critical point. There is health, and there's

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<v Speaker 1>COVID and there's actually health of our children, and then

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<v Speaker 1>there's the economic um parts. So there's really three parts.

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<v Speaker 1>And I think if we put the child at the

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<v Speaker 1>center and say what is best for American child, what

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<v Speaker 1>experiences do they need, and when we come to the

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<v Speaker 1>conclusion that they need to be in school, then we

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<v Speaker 1>need to really figure out how to make that a

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<v Speaker 1>safe environment. I know many jurisdictions have worked on this.

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<v Speaker 1>I think we also have to make sure that we

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<v Speaker 1>have a way for teachers and administrators to be safe,

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<v Speaker 1>and we need to have a way that households can

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<v Speaker 1>be safe, um if they're multigenerational households, because we know

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<v Speaker 1>children will come intacted just like we have eighteen year

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<v Speaker 1>olds and twenty two year olds in fact, and may

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<v Speaker 1>not show symptoms. And so these are we have to

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<v Speaker 1>bring in testing into the schools as well as you

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<v Speaker 1>describe creating a healthy environment and really working together at

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<v Speaker 1>the state and local level and the federal level to

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<v Speaker 1>learn from each other of how we were putting the

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<v Speaker 1>child at the center and meeting their needs were able

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<v Speaker 1>to create that safe environment for both the families, the

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<v Speaker 1>teachers and the children. It really is just so many

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<v Speaker 1>different questions. And that's and that's where it comes from

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<v Speaker 1>from the elementary you know K through twelve perspective, and

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<v Speaker 1>you know, I come from a family of teachers. But

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<v Speaker 1>then there's the higher ed perspective Dr. Brooks colleges and universities,

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<v Speaker 1>and you've got kids going out of state and state,

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<v Speaker 1>I mean, what what should higher education UH institutions be doing? Well?

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<v Speaker 1>In a way, I think it's a little bit easier

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<v Speaker 1>for higher educational institutions and the older children in K

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<v Speaker 1>through twelve because on the on the White House website

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<v Speaker 1>about four weeks ago, we really put up a document

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<v Speaker 1>of how you can do routine surveillance testing by pooling sample.

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<v Speaker 1>So let's say you have a dormitory of three hundred people,

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<v Speaker 1>they could be tested weekly with thirty tests um and

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<v Speaker 1>that is easy to do. And within each of these

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<v Speaker 1>universities they have a depth of testing capacity that has

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<v Speaker 1>not been utilized. And so we've been talking to university

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<v Speaker 1>presidents and and deans about how to turn on their

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<v Speaker 1>research testing capacity to routinely screen in their student body.

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<v Speaker 1>And I think that is very possible. And then how

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<v Speaker 1>we take that into K through twelve that needed when

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<v Speaker 1>you see virus circulating in the community, how you get

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<v Speaker 1>in there and do what we call surveillance testing in schools,

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<v Speaker 1>and that it can be done classroom by classroom. There's

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<v Speaker 1>a lot of advice about how to keep students in

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<v Speaker 1>um specific cohorted classrooms, and so if there's only infection

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<v Speaker 1>in that particular cohort, they may have to quarantine for

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<v Speaker 1>two weeks, but the rest of the school can continue

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<v Speaker 1>to go. We know how to do this. We have

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<v Speaker 1>a science and we have the technology. We need the

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<v Speaker 1>will to bring this type of innovative testing to our

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<v Speaker 1>K through twelves and to our universities and colleges. I've

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<v Speaker 1>got one more question for you, because you've been so

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<v Speaker 1>generous with your time, and I'm incredibly appreciative. Doctor Deborah

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<v Speaker 1>Burks is on the line, and of course she is UH.

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<v Speaker 1>She is UH one of the top diplomats and America

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<v Speaker 1>physicians who is really driving behind the scenes as well

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<v Speaker 1>as sometimes publicly, the the White House coronavirus response. UH.

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<v Speaker 1>And you have deep experience with this because of your

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<v Speaker 1>experience and how the United States handled HIV and AIDS

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<v Speaker 1>and whatnot when we do get a vaccine, you know

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<v Speaker 1>when not if when? How is the administration preparing so

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<v Speaker 1>that everyone can get one and that there's no socio

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<v Speaker 1>economic disparre questions that come into account, but that everyone

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<v Speaker 1>that it's equal distribution. How are we preparing for the vaccine?

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<v Speaker 1>I think the evidence of what this administration has done

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<v Speaker 1>for making testing free, for making care when it wasn't

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<v Speaker 1>affordable and people didn't have insurance UM free UM, so

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<v Speaker 1>that everybody can get what they need to protect themselves

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<v Speaker 1>about the virus, I'm sure similar will happen with vaccination.

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<v Speaker 1>Just a couple of comments on vaccination. So there are

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<v Speaker 1>vaccines that do what we call sterilizing immunity. It prevents

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<v Speaker 1>you from getting infected. That's a more rare vaccine. Most

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<v Speaker 1>vaccines prevent you from getting disease. And what do I

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<v Speaker 1>mean by that? You could get a low grade infection, asymptomatic,

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<v Speaker 1>last thirty six or forty eight hours, you clear the virus,

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<v Speaker 1>you're fine, And so many of these vaccines may work

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<v Speaker 1>in that way. And so then we have to really

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<v Speaker 1>make sure that with the first available vaccines that we're

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<v Speaker 1>immunizing the cohort and the cohorts most susceptible to severe disease,

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<v Speaker 1>and we know who those are. We know particularly long

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<v Speaker 1>term care facilities, nursing home, people in close settings like prisons.

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<v Speaker 1>Of course, it would all be voluntary, but we want

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<v Speaker 1>to make sure a vaccine go to the most needed.

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<v Speaker 1>CDC is working on a generalized distribution plan that gets

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<v Speaker 1>because they're used to doing it for fluid, to get

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<v Speaker 1>it to all across America. But I think Americans would

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<v Speaker 1>understand that we need to prioritize the groups that could

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<v Speaker 1>have the most severe illness first and then work our

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<v Speaker 1>way through the rest of the United States to make

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<v Speaker 1>sure that everyone has access. All Right, Dr Burke's I

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<v Speaker 1>will leave it there. We're joined by Secretary Asar and

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<v Speaker 1>I want to ask you about this executive order that

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<v Speaker 1>Chief of Staff Market Meadows talked about yesterday in terms

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<v Speaker 1>of prescription jug pricing. Can you give us any details. Well,

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<v Speaker 1>I make it a business to not preempt the President

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<v Speaker 1>or the so uh, I'm gonna I'm gonna leave any

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<v Speaker 1>actual announcements to them, but suffice it to say the

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<v Speaker 1>President has been deeply committed to getting prescription drug prices down.

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<v Speaker 1>We've approved historic levels of generic drugs, drugs. Um we've

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<v Speaker 1>seen prescription drug inflation flatten from where it had been

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<v Speaker 1>before he before he took office, and before he laid

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<v Speaker 1>out the blueprint, where it was I think about five

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<v Speaker 1>percent on average inflation to now we're basically flat zero

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<v Speaker 1>percent inflation. But he remains committed to leveling the playing

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<v Speaker 1>field internationally and stopped for in free riding where they

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<v Speaker 1>don't where other countries don't pay enough for their drugs,

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<v Speaker 1>and we've ay too much up to ensure that we

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<v Speaker 1>decrease what people, especially our senior citizens, pay out of

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<v Speaker 1>pocket for their drugs. And he's deeply committed to the

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<v Speaker 1>concept that people should have the freedom to get their drugs,

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<v Speaker 1>import them from abroad if they can get them in

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<v Speaker 1>a safe, effective way that reduces their cost. Well, that's

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<v Speaker 1>what I want to follow up on, because we he

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<v Speaker 1>There's also been some reports about potentially more executive orders

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<v Speaker 1>as it relates to UH manufacturing, and I've been having

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<v Speaker 1>conversations with administration officials on the economy as well as

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<v Speaker 1>protecting the domestic and international supply chain, and that includes,

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<v Speaker 1>as you're alluding to, Mr Secretary, that includes UH prescription drugs.

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<v Speaker 1>So how how does that what needs to be done

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<v Speaker 1>in between the public and the private sector in order

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<v Speaker 1>to protect people's medicines, especially if they are parts of

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<v Speaker 1>it is made internationally like in China. Yeah. So I

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<v Speaker 1>think that the coronavirus pandemic has brought home that core

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<v Speaker 1>elements of our metal supply chain are just as strategic

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<v Speaker 1>to our national security as say nuclear submarines or aircraft

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<v Speaker 1>carriers are, and have to be treated with that same

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<v Speaker 1>kind of approach, which is to make sure we have

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<v Speaker 1>core domestic manufacturing capabilities. Now that means paying for that.

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<v Speaker 1>That does mean that right now we've seen the supply

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<v Speaker 1>chain go to low cost areas in the world UM

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<v Speaker 1>as well as areas that have protectionist trade policies that

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<v Speaker 1>lead to lower prices of goods. UM. So it might

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<v Speaker 1>mean that we have to use our powers under the

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<v Speaker 1>Defense Production Act or otherwise to fund and incentivize domestic manufacturing,

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<v Speaker 1>to ensure purchasing gear of domestic manufactured product so that

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<v Speaker 1>we essentially UM support and defend a local, domestically based

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<v Speaker 1>strategic focus around pharmaceuticals as well as personal protective equipment.

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<v Speaker 1>Can I can I ask you one more question? Do

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<v Speaker 1>you have a timetable on that executive order. I just

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<v Speaker 1>I want to know if if we're gonna get it

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<v Speaker 1>a couple of weeks, a couple of days in terms

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<v Speaker 1>of big Pharma. Well, I don't have a timetable for you. Again,

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<v Speaker 1>I'll leave that to the President to make a decision

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<v Speaker 1>on when he when and whether he's going to do

0:13:17.960 --> 0:13:20.360
<v Speaker 1>anything by executive order. All right, and just and and

0:13:20.400 --> 0:13:24.319
<v Speaker 1>just more broadly, so many questions that I get from

0:13:24.360 --> 0:13:26.880
<v Speaker 1>folks outside of the industry, outside of Washington, is they

0:13:26.920 --> 0:13:29.199
<v Speaker 1>want to know about vaccine development. They want to know

0:13:29.440 --> 0:13:31.000
<v Speaker 1>that when there is a vaccine, when there is an

0:13:31.040 --> 0:13:34.480
<v Speaker 1>effective treatment and vaccine, that that everyone's going to be

0:13:34.480 --> 0:13:36.680
<v Speaker 1>able to get it when they want. Can you give

0:13:36.760 --> 0:13:40.520
<v Speaker 1>us an inside account as to how the vaccination process

0:13:40.520 --> 0:13:43.240
<v Speaker 1>and what the government's doing to make sure that people

0:13:43.320 --> 0:13:47.240
<v Speaker 1>can get that vaccine once it is in the market. Yeah.

0:13:47.320 --> 0:13:49.120
<v Speaker 1>So the first thing we have to do is get

0:13:49.240 --> 0:13:52.319
<v Speaker 1>vaccine and get vaccine manufactured and ensure that it's a

0:13:52.440 --> 0:13:56.480
<v Speaker 1>safe and effective vaccine according to the FDA's gold standard

0:13:56.520 --> 0:14:00.280
<v Speaker 1>regular story approval processes. So we just had a cortant

0:14:00.280 --> 0:14:04.920
<v Speaker 1>announcement today where we are investing in a fourth fourth

0:14:05.000 --> 0:14:09.720
<v Speaker 1>vaccine candidate. This is nova vacts protein based vaccine one

0:14:09.760 --> 0:14:13.160
<v Speaker 1>point six billion dollars for advanced R and D as

0:14:13.200 --> 0:14:17.760
<v Speaker 1>well as advanced manufacturing to secure one million doses of

0:14:17.800 --> 0:14:20.960
<v Speaker 1>the vaccine. So what are we doing with whether it's

0:14:21.000 --> 0:14:25.720
<v Speaker 1>our relationship with Madera or the Astrosenica vaccine, or the

0:14:25.800 --> 0:14:29.840
<v Speaker 1>Jansen J and J vaccine or now novavaxs um we

0:14:29.920 --> 0:14:33.160
<v Speaker 1>are funding the R and B to make sure that

0:14:33.240 --> 0:14:38.440
<v Speaker 1>we compress the timelines, any inefficiency in the development timelines,

0:14:38.560 --> 0:14:43.520
<v Speaker 1>not sacrificing standards, but just ensuring that we're avoiding any

0:14:43.640 --> 0:14:48.480
<v Speaker 1>types of unnecessary delay on development. Uh So that taking

0:14:48.480 --> 0:14:51.400
<v Speaker 1>the pharma timelines that normally you would get say phase

0:14:51.480 --> 0:14:54.360
<v Speaker 1>one data, you come, you sit down, you study, if

0:14:54.360 --> 0:14:56.480
<v Speaker 1>you spend time, then you design a phase two or

0:14:56.520 --> 0:15:00.280
<v Speaker 1>phase three trial. Um and instead compressing that have pre

0:15:00.400 --> 0:15:03.400
<v Speaker 1>designed have that so you can go right away and

0:15:03.440 --> 0:15:08.040
<v Speaker 1>then on manufacturing, make the investment to scale up commercial

0:15:08.080 --> 0:15:11.880
<v Speaker 1>manufacturing to deliver hundreds and millions of doses even as

0:15:11.960 --> 0:15:14.600
<v Speaker 1>you're doing the development trials to make to to to

0:15:14.800 --> 0:15:18.160
<v Speaker 1>prove that the vaccine would be safe and effective. UM.

0:15:18.200 --> 0:15:21.920
<v Speaker 1>So what we're also doing is the distribution work is

0:15:21.960 --> 0:15:25.360
<v Speaker 1>of course, as you mentioned critical, So we are working

0:15:25.440 --> 0:15:30.400
<v Speaker 1>internally and we will engage external stakeholders in a process

0:15:30.440 --> 0:15:33.920
<v Speaker 1>to advise on as we get more limited supplies of

0:15:34.000 --> 0:15:36.720
<v Speaker 1>vaccine out, So in the fall, as we get say

0:15:36.760 --> 0:15:39.760
<v Speaker 1>tens of millions of vaccine and scale up to the

0:15:39.840 --> 0:15:43.640
<v Speaker 1>hundreds of millions of doses of vaccine in early next year,

0:15:44.440 --> 0:15:47.680
<v Speaker 1>who are the first groups that ought to be vaccinated?

0:15:48.120 --> 0:15:50.040
<v Speaker 1>That will be an ethical process. It will be a

0:15:50.080 --> 0:15:54.160
<v Speaker 1>public process where we gather input to help make those determinations.

0:15:54.640 --> 0:15:56.440
<v Speaker 1>I want to be very respectful of your time, and

0:15:56.960 --> 0:15:59.200
<v Speaker 1>you've been very generous with yours, and so I'm gonna

0:16:00.200 --> 0:16:02.560
<v Speaker 1>and the interview there, but I really appreciate your time.

0:16:02.560 --> 0:16:06.400
<v Speaker 1>Secretary is are and for taking my questions. I'm Kevin Cirelli,

0:16:06.480 --> 0:16:09.240
<v Speaker 1>chief Washington correspondent for Bloomberg TV and Radio. We're joined

0:16:09.240 --> 0:16:13.120
<v Speaker 1>by Secretary Brulette. Mr Secretary, thanks so much for being here.

0:16:13.160 --> 0:16:16.800
<v Speaker 1>I want to get your reaction to really what's been

0:16:16.800 --> 0:16:20.880
<v Speaker 1>going on in the past day, which is you've got

0:16:20.880 --> 0:16:23.920
<v Speaker 1>a court order that says the Dakota Access crude oil

0:16:23.960 --> 0:16:26.200
<v Speaker 1>pipeline has got to shut down, and then you've got

0:16:26.240 --> 0:16:29.720
<v Speaker 1>developers of the Atlantic Coast gas conduits, saying that they've

0:16:29.760 --> 0:16:33.680
<v Speaker 1>got to cancel the project. Are these are these types

0:16:33.720 --> 0:16:37.280
<v Speaker 1>of pipelines, these massive pipelines. Are these the thing in

0:16:37.360 --> 0:16:39.680
<v Speaker 1>the past or what has to be done in order

0:16:39.720 --> 0:16:43.480
<v Speaker 1>to allow them to be built? It was great, Hey,

0:16:43.480 --> 0:16:45.480
<v Speaker 1>great to be with you again, Kevin. I really appreciate

0:16:45.520 --> 0:16:48.760
<v Speaker 1>the opportunity to talk about these issues today. No, they're

0:16:48.800 --> 0:16:52.000
<v Speaker 1>not done. Uh, they're not dinosaurs and not things of

0:16:52.040 --> 0:16:55.720
<v Speaker 1>the past. Very disappointing news coming out of you know,

0:16:55.800 --> 0:16:58.440
<v Speaker 1>the East Coast with the Bark to the Atlantic Coast pipeline. However,

0:16:58.520 --> 0:17:00.840
<v Speaker 1>so you know, look, I understand the decision. It's an

0:17:00.880 --> 0:17:04.720
<v Speaker 1>economically rational decision. These people have spent three billion dollars

0:17:04.720 --> 0:17:07.440
<v Speaker 1>over six years. Uh, they want a Supreme Court case,

0:17:07.480 --> 0:17:11.360
<v Speaker 1>and yet they're still unable to see their way through, uh,

0:17:11.400 --> 0:17:14.720
<v Speaker 1>to develop this pipeline. It's very very concerning. We'll see

0:17:14.760 --> 0:17:17.000
<v Speaker 1>what the next steps are there. But I understand the decision,

0:17:17.040 --> 0:17:20.600
<v Speaker 1>and while disappointing, uh, you know, I think it's probably

0:17:20.640 --> 0:17:23.680
<v Speaker 1>at this point in economically rational decision. I am not

0:17:23.760 --> 0:17:26.760
<v Speaker 1>quite certain, however, that I understand you know what the

0:17:26.840 --> 0:17:30.720
<v Speaker 1>environmental activists are actually celebrating, uh, you know, except for

0:17:30.800 --> 0:17:33.800
<v Speaker 1>perhaps the loss of American jobs and the UH the

0:17:33.920 --> 0:17:37.640
<v Speaker 1>loss of access to cheap gas, cheap natural gas down

0:17:37.640 --> 0:17:40.760
<v Speaker 1>in North Carolina and other places along the pipeline. UH,

0:17:40.880 --> 0:17:43.479
<v Speaker 1>not much there to cheer about in my opinion. With

0:17:43.520 --> 0:17:46.080
<v Speaker 1>regard to the Dakoda Access pipeline. We'll have to wait

0:17:46.080 --> 0:17:50.000
<v Speaker 1>and see. I did review the decision quickly yesterday. UM.

0:17:50.040 --> 0:17:52.240
<v Speaker 1>I assume that the parties that are involved with that

0:17:52.320 --> 0:17:55.280
<v Speaker 1>are going to avail themselves or whatever legal options present

0:17:55.560 --> 0:17:58.200
<v Speaker 1>are presented to them. We'll have to wait and see

0:17:58.240 --> 0:18:01.280
<v Speaker 1>what those decisions are. But it's very, very important that

0:18:01.920 --> 0:18:06.359
<v Speaker 1>we take advantage of these opportunities to create what the

0:18:06.359 --> 0:18:10.480
<v Speaker 1>President calls regulatory certainty, and he has directed me very

0:18:10.480 --> 0:18:13.200
<v Speaker 1>early in this administration and look at the regulations within

0:18:13.240 --> 0:18:16.280
<v Speaker 1>the Department of Energy, eliminate those that are redundant, are

0:18:16.280 --> 0:18:19.439
<v Speaker 1>simply unnecessary. And we've done exactly that. So we're going

0:18:19.520 --> 0:18:22.280
<v Speaker 1>to continue that as we move along. You know, even

0:18:22.359 --> 0:18:26.280
<v Speaker 1>beyond that, we're staring down Mr Secretary, the prospects of

0:18:26.320 --> 0:18:30.600
<v Speaker 1>another economic stimulus ahead of the August recess. What would

0:18:30.640 --> 0:18:33.840
<v Speaker 1>you like to see included in that? And do you

0:18:33.880 --> 0:18:36.080
<v Speaker 1>think that more government aid is going to be needed

0:18:36.080 --> 0:18:39.639
<v Speaker 1>for the oil and gas industry at this point. You know,

0:18:39.760 --> 0:18:42.040
<v Speaker 1>I think I think what's happening in the energy industry

0:18:42.320 --> 0:18:44.760
<v Speaker 1>depends on what part of the industry you're talking about, obviously,

0:18:44.800 --> 0:18:47.640
<v Speaker 1>but you know, with regard to things like oil and gas,

0:18:48.040 --> 0:18:50.439
<v Speaker 1>we're seeing demand for refined product come back in a

0:18:50.560 --> 0:18:53.760
<v Speaker 1>very good way, very aggressive way. As that demand curve

0:18:53.840 --> 0:18:56.760
<v Speaker 1>continues to increase, as people begin to get out and about,

0:18:57.080 --> 0:19:00.639
<v Speaker 1>as the economies continue to open, We're gonna these guys

0:19:00.680 --> 0:19:03.560
<v Speaker 1>do just fine. I am so proud of this particular

0:19:03.560 --> 0:19:05.840
<v Speaker 1>industry because of the innovations that they've been able to

0:19:05.880 --> 0:19:08.479
<v Speaker 1>develop over the course of the last two three pups

0:19:08.880 --> 0:19:11.760
<v Speaker 1>four decades that allows them to ramp up and down

0:19:11.800 --> 0:19:15.800
<v Speaker 1>their production numbers very very efficiently. So, you know, I

0:19:15.840 --> 0:19:17.800
<v Speaker 1>think as we continue to open up, we're going to

0:19:17.880 --> 0:19:21.720
<v Speaker 1>have a great, great economic recovery, and energy is going

0:19:21.760 --> 0:19:25.960
<v Speaker 1>to underpin almost all of it. And and to bring

0:19:25.960 --> 0:19:27.520
<v Speaker 1>it back to what you said, I mean, we're talking

0:19:27.600 --> 0:19:29.440
<v Speaker 1>macro right now, but to go down to the to

0:19:29.560 --> 0:19:32.200
<v Speaker 1>the localized level. For so many of these individuals, whether

0:19:32.240 --> 0:19:35.439
<v Speaker 1>their court cases or whether they're they're you know, the

0:19:35.480 --> 0:19:38.320
<v Speaker 1>back and forth, what's going on on Capitol Hill These

0:19:38.320 --> 0:19:40.560
<v Speaker 1>are jobs for many people, and and and parts of

0:19:40.560 --> 0:19:44.160
<v Speaker 1>the country that have been just completely economically devastated as

0:19:44.160 --> 0:19:47.840
<v Speaker 1>a result of this pandemic. What what needs to be

0:19:47.920 --> 0:19:51.720
<v Speaker 1>done to help those refinery workers to be helped, to

0:19:51.800 --> 0:19:55.840
<v Speaker 1>help those uh, you know, drillers who want to get

0:19:55.840 --> 0:19:58.159
<v Speaker 1>back to work. Maybe they are reopening, but they're staring

0:19:58.200 --> 0:20:01.120
<v Speaker 1>these down the headlines of all of this economic uncertainty.

0:20:01.200 --> 0:20:04.679
<v Speaker 1>What needs to be done to specifically help them. We

0:20:04.720 --> 0:20:06.760
<v Speaker 1>need to continue to open up the economy. That's what's

0:20:06.760 --> 0:20:08.159
<v Speaker 1>going to help them the most. And I think the

0:20:08.200 --> 0:20:11.639
<v Speaker 1>President is very appropriately pursuing that, you know, with regard

0:20:11.680 --> 0:20:14.159
<v Speaker 1>to the other government programs, the Care's Act, the Paper

0:20:14.480 --> 0:20:17.879
<v Speaker 1>Check Protection Act, um, all of those programs, I think

0:20:17.920 --> 0:20:20.240
<v Speaker 1>Secretary Manutition and others have done a great job of

0:20:20.320 --> 0:20:22.639
<v Speaker 1>making those available to the energy industry. I know that

0:20:22.680 --> 0:20:26.320
<v Speaker 1>many have taken, um, taken advantage of, or made those

0:20:26.359 --> 0:20:29.240
<v Speaker 1>programs available to their employees as well as the you know,

0:20:29.240 --> 0:20:31.399
<v Speaker 1>their corporate entities. We need to continue to see that

0:20:31.480 --> 0:20:34.679
<v Speaker 1>happen as we move along. But first and foremost, you know,

0:20:34.760 --> 0:20:36.760
<v Speaker 1>the demand for energy is going to fix so many

0:20:36.800 --> 0:20:38.600
<v Speaker 1>of these issues that we're dealing with right now. In

0:20:38.640 --> 0:20:41.840
<v Speaker 1>the economy, and um, I think the President has done

0:20:41.880 --> 0:20:44.600
<v Speaker 1>a great job of opening up the economy in a

0:20:44.640 --> 0:20:46.880
<v Speaker 1>way that protects the health and welfare of the American

0:20:46.920 --> 0:20:49.920
<v Speaker 1>people and creates the economic activity that we need to

0:20:49.960 --> 0:20:54.480
<v Speaker 1>see these industries survive and thrive post pandemic. I have

0:20:54.520 --> 0:20:56.120
<v Speaker 1>two more questions for you, and I'll keep it quick.

0:20:56.240 --> 0:20:58.879
<v Speaker 1>Why just on the Dakota Access pipeline, Why is that

0:20:58.960 --> 0:21:01.800
<v Speaker 1>so critical at a time, especially when there's an energy

0:21:01.800 --> 0:21:05.560
<v Speaker 1>surplus surplus and depressed markets and and along with this

0:21:06.000 --> 0:21:09.040
<v Speaker 1>greater global reliance and renewable sources. Talk to me about

0:21:09.080 --> 0:21:12.720
<v Speaker 1>the codas sure, well, these types of pipelines, do you

0:21:12.720 --> 0:21:14.399
<v Speaker 1>think about what they're bringing in and you think about

0:21:14.400 --> 0:21:17.400
<v Speaker 1>what their purposes are? You know, in many cases they're

0:21:17.400 --> 0:21:20.760
<v Speaker 1>bringing in, for instance, crude oil that's necessary for certain

0:21:20.800 --> 0:21:23.240
<v Speaker 1>refineries here in the United States. You know, we talked

0:21:23.280 --> 0:21:26.159
<v Speaker 1>about energy independence in the past, and we talked about

0:21:26.480 --> 0:21:28.960
<v Speaker 1>the fact that our production numbers are now very, very

0:21:29.040 --> 0:21:32.639
<v Speaker 1>high in the United States, is in fact independent of

0:21:32.680 --> 0:21:36.600
<v Speaker 1>many of the negative consequences of being too dependent upon

0:21:36.720 --> 0:21:40.639
<v Speaker 1>adversarial nations. But what happens in trade is that certain

0:21:40.680 --> 0:21:44.760
<v Speaker 1>types of oil are are very advantageous to certain refineries,

0:21:44.760 --> 0:21:46.199
<v Speaker 1>and that's what we're seeing in the case of some

0:21:46.240 --> 0:21:49.600
<v Speaker 1>of the pipelines in the Northeast. Canada produces very heavy

0:21:49.640 --> 0:21:53.000
<v Speaker 1>crude that is needed at these refineries, so bringing it

0:21:53.080 --> 0:21:55.640
<v Speaker 1>in and allowing that trade to happen is very important.

0:21:55.880 --> 0:21:57.840
<v Speaker 1>If you shut down the pipeline, you've shut off of

0:21:57.920 --> 0:22:01.359
<v Speaker 1>an avenue for a very resource for many parts of

0:22:01.400 --> 0:22:05.679
<v Speaker 1>the country, places like Ohio, places down in Houston, Texas,

0:22:05.760 --> 0:22:08.240
<v Speaker 1>where you know, these refineries are set up for this

0:22:08.359 --> 0:22:10.879
<v Speaker 1>heavy crew. Do you think we need to to to

0:22:10.960 --> 0:22:13.240
<v Speaker 1>do something to the permitting system and is that a

0:22:13.480 --> 0:22:16.679
<v Speaker 1>congressional fix or an executive order fix or any actions

0:22:16.720 --> 0:22:19.240
<v Speaker 1>that you can take. Well, I think I think what

0:22:19.280 --> 0:22:21.320
<v Speaker 1>the President has has directed us to do at the

0:22:21.320 --> 0:22:24.560
<v Speaker 1>federal level UH is working. So, for instance, I'll give

0:22:24.600 --> 0:22:27.479
<v Speaker 1>you just a very practical, common sense example. You know,

0:22:27.880 --> 0:22:30.520
<v Speaker 1>if we have to do an environmental review at the

0:22:30.560 --> 0:22:33.359
<v Speaker 1>Department of Energy, for instance, UH as part of the

0:22:33.359 --> 0:22:36.840
<v Speaker 1>permitting process for an ler G export facility, we take

0:22:36.880 --> 0:22:38.800
<v Speaker 1>a very common sense step and we said, well, has

0:22:38.840 --> 0:22:41.600
<v Speaker 1>anyone else already done an environmental review? And if the

0:22:41.640 --> 0:22:43.960
<v Speaker 1>answer to that question is yes, then we rely upon

0:22:43.960 --> 0:22:47.119
<v Speaker 1>the work that's already been done, rather than initiating a

0:22:47.200 --> 0:22:52.480
<v Speaker 1>complete new process to do what other agencies have already completed.

0:22:52.720 --> 0:22:55.399
<v Speaker 1>Reliance upon their work is a very appropriate step for

0:22:55.480 --> 0:22:58.720
<v Speaker 1>us to take, and that eliminates millions of dollars and

0:22:58.800 --> 0:23:02.280
<v Speaker 1>permitting fees, goal fees, other types of cost of these

0:23:02.320 --> 0:23:06.280
<v Speaker 1>important projects. And final question for you on earlier this week,

0:23:06.400 --> 0:23:10.560
<v Speaker 1>Denmark gave the nord Stream to permission to use pipeline

0:23:10.640 --> 0:23:14.879
<v Speaker 1>vessels UH in order to complete the final stretch of

0:23:14.880 --> 0:23:17.920
<v Speaker 1>of the pipeline. And this, you know they're saying, is

0:23:18.200 --> 0:23:21.919
<v Speaker 1>only going to enhance their ability to get Russian natural

0:23:22.119 --> 0:23:26.600
<v Speaker 1>natural gas to Europe. This is becoming more controversial, as

0:23:26.600 --> 0:23:28.920
<v Speaker 1>you know, Mr Secretary, by the day, and it really

0:23:28.920 --> 0:23:32.879
<v Speaker 1>could alter the political dynamics for Europe and Russia, increasing

0:23:32.880 --> 0:23:38.160
<v Speaker 1>Europe's reliance on Russian energy and therefore have us implications.

0:23:38.200 --> 0:23:41.480
<v Speaker 1>I just want to ask you where the administration is

0:23:41.520 --> 0:23:45.560
<v Speaker 1>on this standpoint, UH, in terms of Europe and Russia

0:23:45.600 --> 0:23:48.920
<v Speaker 1>and their energy reliance on each other. I think we're

0:23:48.920 --> 0:23:50.880
<v Speaker 1>in the same place that we've always been. The President

0:23:50.960 --> 0:23:53.040
<v Speaker 1>nailed it two years ago when he attended the NATO

0:23:53.119 --> 0:23:55.679
<v Speaker 1>conference and said he has a very basic question a

0:23:55.760 --> 0:23:58.639
<v Speaker 1>very direct question. He said, you know, wait a minute,

0:23:59.280 --> 0:24:01.879
<v Speaker 1>I'm protecting you from the very people that you're buying

0:24:01.880 --> 0:24:04.560
<v Speaker 1>your energy from. Explain that to me. And he was

0:24:04.600 --> 0:24:08.919
<v Speaker 1>speaking very specifically to German and Europeans generally, so you know,

0:24:09.000 --> 0:24:11.560
<v Speaker 1>this was in the context of their contributions to NATO,

0:24:11.640 --> 0:24:14.520
<v Speaker 1>which I understand to be still somewhat deficient. So we're

0:24:14.520 --> 0:24:17.679
<v Speaker 1>going to continue our opposition to the pipeline. Uh. We

0:24:17.720 --> 0:24:19.879
<v Speaker 1>appreciate what the Danes are doing. We think it's very

0:24:19.880 --> 0:24:24.080
<v Speaker 1>important that they apply the European regulatory construct to this

0:24:24.160 --> 0:24:27.320
<v Speaker 1>particular pipeline, and we're going to continue our pressure on

0:24:27.480 --> 0:24:29.959
<v Speaker 1>them to insist that they do exactly that. All right,

0:24:30.000 --> 0:24:33.280
<v Speaker 1>Secretary Amberlett, Department of Energy Secretary. I appreciate your time

0:24:33.320 --> 0:24:35.800
<v Speaker 1>and for speaking with me, sir, thank you. We're joined

0:24:35.800 --> 0:24:40.000
<v Speaker 1>by Congressman brad Winstrop. He is a Republican serving Ohio

0:24:40.200 --> 0:24:42.200
<v Speaker 1>and and and Congressman, I want to ask you about

0:24:42.200 --> 0:24:45.240
<v Speaker 1>the next round of economic stimulus. You know, Leader McConnell

0:24:45.280 --> 0:24:48.439
<v Speaker 1>the other day was saying that August he wants to

0:24:48.480 --> 0:24:51.720
<v Speaker 1>get something done before the August recess. What would be

0:24:51.760 --> 0:24:56.879
<v Speaker 1>in the next round of economic stimulus, Well, in general,

0:24:56.920 --> 0:24:59.880
<v Speaker 1>I would say what we're focusing on is a real

0:25:00.000 --> 0:25:03.720
<v Speaker 1>opening package. In other words, instead of Phase four or

0:25:03.720 --> 0:25:07.920
<v Speaker 1>five whatever that we were talking about, reopening phase one

0:25:08.359 --> 0:25:12.320
<v Speaker 1>and it's still addresses the effect of of COVID and

0:25:12.320 --> 0:25:15.200
<v Speaker 1>it's it's effects on our economy. And I think that

0:25:15.200 --> 0:25:16.879
<v Speaker 1>that's going to be the big push, and we're going

0:25:16.920 --> 0:25:18.760
<v Speaker 1>to continue to look for any of the glitches and

0:25:18.840 --> 0:25:22.080
<v Speaker 1>the things that we've already done so that we can

0:25:22.400 --> 0:25:26.680
<v Speaker 1>maintain and get back to a healthy economy, whether it's

0:25:26.680 --> 0:25:30.600
<v Speaker 1>our hospitals, our businesses, or individuals are small businesses. We

0:25:30.680 --> 0:25:32.840
<v Speaker 1>have to take a look at all that we painted

0:25:32.880 --> 0:25:35.480
<v Speaker 1>things with a pretty broadbrush when we first started, and

0:25:35.520 --> 0:25:38.320
<v Speaker 1>we've seen we've had to make some changes. Extending programs

0:25:38.320 --> 0:25:41.320
<v Speaker 1>like p p P I think is a great deal

0:25:41.440 --> 0:25:44.280
<v Speaker 1>for what's going on in America today and the needs

0:25:44.280 --> 0:25:46.760
<v Speaker 1>that people have. And we have to continue to look

0:25:46.800 --> 0:25:50.440
<v Speaker 1>at things going in a positive direction and uh doing

0:25:50.520 --> 0:25:53.880
<v Speaker 1>and doing it safely. And that's the that's the conundrum. So,

0:25:53.960 --> 0:25:58.720
<v Speaker 1>you know, from an economic perspective, especially as economist, Congressman

0:25:58.720 --> 0:26:01.600
<v Speaker 1>are talking about there being a depped up recovery with

0:26:01.680 --> 0:26:04.639
<v Speaker 1>the with the you know, positive economic indicators and the

0:26:04.720 --> 0:26:07.639
<v Speaker 1>Q three beginning Q four. You know, you've just passed

0:26:07.640 --> 0:26:11.960
<v Speaker 1>significant other significant economic deals including U S M c A,

0:26:12.000 --> 0:26:15.920
<v Speaker 1>which recently went into effect. From an economic standpoint, it's

0:26:15.960 --> 0:26:17.879
<v Speaker 1>not just the virus, but what else needs to be

0:26:17.960 --> 0:26:23.719
<v Speaker 1>done in order to get a faster recovery. Well, I

0:26:23.760 --> 0:26:27.920
<v Speaker 1>think that you you'll see the administration working with us

0:26:28.640 --> 0:26:31.919
<v Speaker 1>UH to to do pro grows things. Um. You know,

0:26:32.680 --> 0:26:36.639
<v Speaker 1>I think that, um, there's so many things to look at,

0:26:36.680 --> 0:26:39.240
<v Speaker 1>and I know that I'm being kind of vague because

0:26:39.240 --> 0:26:42.760
<v Speaker 1>there there are a lot of opportunities out there, um.

0:26:43.080 --> 0:26:47.760
<v Speaker 1>And to allow people to uh continue with the tax

0:26:47.800 --> 0:26:51.720
<v Speaker 1>breaks to maintain more of their income, um. But we

0:26:51.840 --> 0:26:55.479
<v Speaker 1>also have to get kids back in school. These these

0:26:55.520 --> 0:26:57.719
<v Speaker 1>are some of the things that we have to do

0:26:57.840 --> 0:27:00.720
<v Speaker 1>for allow to allow our economy to take place, and

0:27:00.720 --> 0:27:02.800
<v Speaker 1>of course we have to do it do it safely.

0:27:03.160 --> 0:27:06.080
<v Speaker 1>So it's a combination of returning to normal in a

0:27:06.200 --> 0:27:08.760
<v Speaker 1>in a safe place, in a way that people aren't

0:27:08.800 --> 0:27:12.120
<v Speaker 1>anxious and and so it really comes down so much

0:27:12.119 --> 0:27:15.480
<v Speaker 1>of this is involved with health, right, and so as

0:27:15.560 --> 0:27:19.439
<v Speaker 1>you look, we have got to look at the virus

0:27:19.520 --> 0:27:23.320
<v Speaker 1>itself and continue to go in positive directions medically, which

0:27:23.359 --> 0:27:27.159
<v Speaker 1>we have done with treatments. You're seeing far fewer people

0:27:27.800 --> 0:27:31.200
<v Speaker 1>uh dying. You're seeing people that have recovered and they

0:27:31.240 --> 0:27:34.520
<v Speaker 1>have convalescent plasma. They can help the next person. Those

0:27:34.560 --> 0:27:36.920
<v Speaker 1>are things that we need to do to build confidence

0:27:37.080 --> 0:27:40.600
<v Speaker 1>in in our society in general. Um and we would

0:27:40.680 --> 0:27:42.840
<v Speaker 1>and when we do that, we can eliminate some of

0:27:42.880 --> 0:27:46.800
<v Speaker 1>the other things that have been happening because people aren't

0:27:46.800 --> 0:27:48.600
<v Speaker 1>at work or they were shut down. We see an

0:27:48.600 --> 0:27:52.080
<v Speaker 1>increase in suicide, domestic violence, all these things that are

0:27:52.119 --> 0:27:54.920
<v Speaker 1>negatives for us. So we have to take a look

0:27:54.960 --> 0:27:57.560
<v Speaker 1>at those and make sure that we can re institute

0:27:57.640 --> 0:27:59.800
<v Speaker 1>normal life for a lot of people so that people

0:27:59.800 --> 0:28:02.320
<v Speaker 1>can go to work because their kids are taken care

0:28:02.359 --> 0:28:06.160
<v Speaker 1>of at school and afterwards and all of these things

0:28:06.200 --> 0:28:11.000
<v Speaker 1>come into play. We have a shortage of daycare providers.

0:28:11.040 --> 0:28:13.720
<v Speaker 1>That's the problem for our economy because you can't return

0:28:13.760 --> 0:28:16.359
<v Speaker 1>to work and just leave your kids at home. All

0:28:16.400 --> 0:28:18.520
<v Speaker 1>of these things have to be addressed, and I'm going

0:28:18.560 --> 0:28:21.679
<v Speaker 1>to look for incentives for those types of programs and

0:28:21.760 --> 0:28:24.639
<v Speaker 1>to encourage more people to go into those fields because

0:28:24.640 --> 0:28:26.919
<v Speaker 1>there's a definite need there. And if we don't, if

0:28:26.960 --> 0:28:30.560
<v Speaker 1>we don't address every component of this people just can't

0:28:30.560 --> 0:28:32.760
<v Speaker 1>all return back to work. But I am encouraged by

0:28:32.760 --> 0:28:35.280
<v Speaker 1>the numbers that we have seen in the last couple

0:28:35.280 --> 0:28:37.199
<v Speaker 1>of months. And Congressmen, I want to pick up on

0:28:37.240 --> 0:28:40.360
<v Speaker 1>that point because from an economic standpoint here we are

0:28:40.400 --> 0:28:43.720
<v Speaker 1>staring down the next round of economic stimulus negotiations ahead

0:28:43.720 --> 0:28:47.400
<v Speaker 1>of the August recess. And and and you you mentioned

0:28:47.480 --> 0:28:50.640
<v Speaker 1>about the psychology of the American worker in terms of

0:28:50.680 --> 0:28:53.239
<v Speaker 1>going back to work. Part of that includes sending your

0:28:53.280 --> 0:28:56.880
<v Speaker 1>kids back to school and having faith that the school

0:28:57.280 --> 0:29:01.080
<v Speaker 1>not even but being reassured that sending your your kids

0:29:01.160 --> 0:29:03.400
<v Speaker 1>back to school, back to daycare, back to you know,

0:29:03.440 --> 0:29:06.040
<v Speaker 1>elementary school, high school, that they're going to be safe.

0:29:06.560 --> 0:29:10.560
<v Speaker 1>And so you talked about providing incentives for these schools

0:29:10.560 --> 0:29:14.720
<v Speaker 1>to be able to get access to to clean facilities

0:29:14.720 --> 0:29:19.800
<v Speaker 1>and whatnot. How important is that to to reopening the economy.

0:29:21.400 --> 0:29:25.280
<v Speaker 1>It's really important. And you talk to anybody that has employees,

0:29:25.400 --> 0:29:28.400
<v Speaker 1>especially in small businesses, and that is one of their

0:29:28.440 --> 0:29:30.920
<v Speaker 1>major concerns and it's going to be a limiting factor.

0:29:31.040 --> 0:29:33.080
<v Speaker 1>So we've seen good numbers. We want to see the

0:29:33.160 --> 0:29:35.200
<v Speaker 1>numbers going up, but those are the things that come

0:29:35.200 --> 0:29:39.240
<v Speaker 1>into play. And so I represent both urban and rural areas,

0:29:39.480 --> 0:29:43.520
<v Speaker 1>and it's a very different environment in each. I have

0:29:43.640 --> 0:29:48.080
<v Speaker 1>some counties where their hospital maybe has had zero admissions

0:29:48.080 --> 0:29:51.640
<v Speaker 1>for COVID or one and and only one death and

0:29:51.680 --> 0:29:54.959
<v Speaker 1>that was with co morbidities, and so they're not understanding

0:29:55.360 --> 0:29:58.040
<v Speaker 1>the same way an urban setting is, where you have

0:29:58.160 --> 0:30:01.160
<v Speaker 1>higher numbers than you have deaths. Cincinnati is not the

0:30:01.200 --> 0:30:03.320
<v Speaker 1>same as New York, and my rural errors aren't the

0:30:03.360 --> 0:30:06.960
<v Speaker 1>same as Cincinnati. So how we go about doing that

0:30:07.400 --> 0:30:11.400
<v Speaker 1>really is going to involve good medical decisions at the

0:30:11.480 --> 0:30:16.080
<v Speaker 1>local level to build the confidence of parents and of

0:30:16.200 --> 0:30:19.120
<v Speaker 1>kids going to school. The desire is there. I have

0:30:19.240 --> 0:30:22.800
<v Speaker 1>seen that tremendously. The desire is there to return to

0:30:22.880 --> 0:30:25.720
<v Speaker 1>that normal, and we just have to do all that

0:30:25.800 --> 0:30:28.720
<v Speaker 1>we can to allow, especially at a local level, people

0:30:28.760 --> 0:30:32.000
<v Speaker 1>to provide the safety that is necessary and the competence

0:30:32.280 --> 0:30:35.120
<v Speaker 1>of that safety if they're going to go back to

0:30:35.120 --> 0:30:38.120
<v Speaker 1>to work and and be able to send their kids

0:30:38.120 --> 0:30:40.960
<v Speaker 1>to school. But at the same time, what's really important

0:30:40.960 --> 0:30:43.640
<v Speaker 1>on people's minds is they don't want their kids missing

0:30:43.640 --> 0:30:47.080
<v Speaker 1>out on their education, and so it's a combination there.

0:30:47.120 --> 0:30:49.480
<v Speaker 1>So it's a very holistic approach that we need to

0:30:49.520 --> 0:30:52.400
<v Speaker 1>take because it's not just about the virus. Are we

0:30:52.400 --> 0:30:55.520
<v Speaker 1>going to have a generation of kids that were uneducated

0:30:55.520 --> 0:30:58.240
<v Speaker 1>because we're not letting them go to school. That's the problem.

0:30:58.280 --> 0:31:01.400
<v Speaker 1>And I can tell you, you know, I'm lucky my

0:31:01.400 --> 0:31:05.000
<v Speaker 1>my son in kindergarten. We we get his his teachers

0:31:05.000 --> 0:31:07.960
<v Speaker 1>online every day, and we have his class work online

0:31:08.000 --> 0:31:10.560
<v Speaker 1>every day, and we can print the programs and do

0:31:10.640 --> 0:31:14.160
<v Speaker 1>the work with him. Not everyone has that capability across America,

0:31:14.240 --> 0:31:17.160
<v Speaker 1>and we have to recognize that. And that's why the

0:31:17.200 --> 0:31:21.040
<v Speaker 1>importance of continuing to educate our children is really important,

0:31:21.120 --> 0:31:24.400
<v Speaker 1>especially for our workforce, not only for today for parents

0:31:24.440 --> 0:31:27.440
<v Speaker 1>that are working, but for the future and our workforce.

0:31:27.640 --> 0:31:30.200
<v Speaker 1>Congressman Bradwin strips on the line. He's a Republican and

0:31:30.200 --> 0:31:34.160
<v Speaker 1>he serves for Ohio second Congressional District. He's also an

0:31:34.160 --> 0:31:37.040
<v Speaker 1>Iraq War veteran and serves as a member of the

0:31:37.080 --> 0:31:42.440
<v Speaker 1>House Select Intelligence Committee. Uh. And that's really where I

0:31:42.440 --> 0:31:46.240
<v Speaker 1>want to go next in terms of more geopolitical If

0:31:46.280 --> 0:31:49.920
<v Speaker 1>if I could for a minute, how has how has

0:31:50.360 --> 0:31:56.440
<v Speaker 1>the United States collectively been protecting itself against some of

0:31:56.800 --> 0:31:58.840
<v Speaker 1>what's what's coming out of China, or how has this

0:31:58.920 --> 0:32:04.240
<v Speaker 1>been changing the dynamic from Beijing with their lack of transparency, Congressmen,

0:32:04.640 --> 0:32:07.760
<v Speaker 1>in terms of resetting U some of the some of

0:32:07.800 --> 0:32:13.440
<v Speaker 1>the geopolitical relationship there, we have a lot of restructuring

0:32:13.480 --> 0:32:15.440
<v Speaker 1>to do, and I think that this president was on

0:32:15.520 --> 0:32:17.959
<v Speaker 1>his way and doing that, and I think we're going

0:32:18.000 --> 0:32:20.360
<v Speaker 1>to continue to do it, and I think it's going

0:32:20.440 --> 0:32:23.080
<v Speaker 1>to happen with the support of Congress because it needs to.

0:32:23.920 --> 0:32:27.040
<v Speaker 1>I'm I'm a military guy. I just spent a year

0:32:27.080 --> 0:32:30.840
<v Speaker 1>in Iraq, also a position very concerned about the World

0:32:30.920 --> 0:32:34.000
<v Speaker 1>Health Organization. If you're not getting honest data and honest

0:32:34.040 --> 0:32:37.920
<v Speaker 1>answers out of the membership, then it's not worth having

0:32:37.920 --> 0:32:40.800
<v Speaker 1>it at all. And we shouggest trying to together our

0:32:40.800 --> 0:32:43.800
<v Speaker 1>own data as best that we can. And and so

0:32:44.360 --> 0:32:47.240
<v Speaker 1>that's a recognized problem, and I think the President was

0:32:47.360 --> 0:32:49.440
<v Speaker 1>right to respond to that in some ways and let

0:32:49.480 --> 0:32:52.080
<v Speaker 1>it be known that we're not going to tolerate this,

0:32:52.080 --> 0:32:54.920
<v Speaker 1>this type of bad behavior when it comes to the

0:32:54.960 --> 0:32:58.800
<v Speaker 1>health of humankind. This has affected the entire world. That's

0:32:58.840 --> 0:33:02.040
<v Speaker 1>one thing. We've all also learned a valuable, valuable lesson

0:33:02.080 --> 0:33:04.360
<v Speaker 1>that I think has really been brought to the forefront

0:33:04.640 --> 0:33:07.920
<v Speaker 1>and maybe been ignored for for decades now, and that's

0:33:07.920 --> 0:33:10.640
<v Speaker 1>our supply chain, and so we are going to have

0:33:10.800 --> 0:33:14.600
<v Speaker 1>to change our economy in a way that manufacturing comes

0:33:14.640 --> 0:33:17.120
<v Speaker 1>back to the United States, which this president has been

0:33:17.160 --> 0:33:20.520
<v Speaker 1>doing since the day he took office, and that is key.

0:33:20.600 --> 0:33:22.680
<v Speaker 1>I got asked early on when it was recognized we

0:33:22.720 --> 0:33:24.760
<v Speaker 1>had a supply chain problem. So what do you do?

0:33:24.840 --> 0:33:27.960
<v Speaker 1>I said, what this president has been doing bringing manufacturing

0:33:28.000 --> 0:33:30.320
<v Speaker 1>back to the United States of America. We're gonna have

0:33:30.360 --> 0:33:32.960
<v Speaker 1>to find ways of doing that. As a military person,

0:33:33.040 --> 0:33:36.040
<v Speaker 1>if you had told me that my protective equipment and

0:33:36.120 --> 0:33:41.080
<v Speaker 1>my pharmaceuticals that we got in China, where that we

0:33:41.200 --> 0:33:43.720
<v Speaker 1>that we got in Iraq, we're coming from China, I

0:33:43.720 --> 0:33:46.480
<v Speaker 1>would have said, there is no way. And but that's

0:33:46.520 --> 0:33:48.720
<v Speaker 1>the situation we're in, and I can tell you right

0:33:48.760 --> 0:33:52.680
<v Speaker 1>now we're working diligently to identify where vulnerabilities are and

0:33:52.760 --> 0:33:56.160
<v Speaker 1>working to correct that and working hand in hand with

0:33:56.200 --> 0:33:59.360
<v Speaker 1>the administration on that. Congress and Braden Ship, I want

0:33:59.360 --> 0:34:00.720
<v Speaker 1>to be a respectful your time, so I'm going to

0:34:00.840 --> 0:34:03.000
<v Speaker 1>leave it there, but I very much appreciate uh you

0:34:03.120 --> 0:34:06.200
<v Speaker 1>taking these questions and for talking about this with us.

0:34:06.200 --> 0:34:08.920
<v Speaker 1>As Congressman Bradwin trip. He is a Republican from Ohio

0:34:09.040 --> 0:34:12.840
<v Speaker 1>second Congressional District. Thank you, sir. We're joined by Javita

0:34:12.880 --> 0:34:16.280
<v Speaker 1>Carranza of the Small Business Administration, and she, of course

0:34:16.320 --> 0:34:19.880
<v Speaker 1>has been one of the driving forces behind making sure

0:34:19.960 --> 0:34:24.520
<v Speaker 1>that businesses get access to loans, especially small businesses get

0:34:24.560 --> 0:34:27.719
<v Speaker 1>access to loans. Now, we've just received some of the

0:34:27.800 --> 0:34:30.560
<v Speaker 1>data about who has gotten access to the p p

0:34:30.560 --> 0:34:33.319
<v Speaker 1>P loans that have been out there. Now there have

0:34:33.440 --> 0:34:35.840
<v Speaker 1>been some criticism as you know, that it was the

0:34:35.880 --> 0:34:39.279
<v Speaker 1>politically well connected, uh that that we're able to get

0:34:39.320 --> 0:34:42.439
<v Speaker 1>access to this. What is the administration doing to make

0:34:42.480 --> 0:34:45.920
<v Speaker 1>sure that any small business that needs and qualifies for

0:34:46.000 --> 0:34:49.919
<v Speaker 1>those loans is able to get it. Well, Kevin i'ld

0:34:49.920 --> 0:34:51.680
<v Speaker 1>like to start out by saying that the p p

0:34:51.680 --> 0:34:54.760
<v Speaker 1>P has proven to be very successful. It has actually

0:34:54.800 --> 0:34:59.440
<v Speaker 1>achieved it's two objectives, which was a job retention, wage

0:34:59.440 --> 0:35:04.160
<v Speaker 1>growth all in one and then also sustaining of small businesses.

0:35:04.600 --> 0:35:08.279
<v Speaker 1>And the PPP has saved nearly five million small business enterprises.

0:35:08.320 --> 0:35:11.160
<v Speaker 1>So those are the data, you know, the data points

0:35:11.160 --> 0:35:14.560
<v Speaker 1>that I always look at the fact that we processed

0:35:14.600 --> 0:35:18.640
<v Speaker 1>about five and twenty billion dollars and saved and this

0:35:18.719 --> 0:35:20.840
<v Speaker 1>is the other data point I always stay focused on.

0:35:21.560 --> 0:35:25.360
<v Speaker 1>We we estimate based on the entry on all of

0:35:25.400 --> 0:35:28.520
<v Speaker 1>the loan applications that we've saved and estimated fifty one

0:35:28.560 --> 0:35:32.000
<v Speaker 1>million jobs. And I also looked at the fact that

0:35:32.680 --> 0:35:35.240
<v Speaker 1>of the funding. If you look at the data very closely,

0:35:35.840 --> 0:35:39.840
<v Speaker 1>you notice that most of the loans were made um

0:35:39.880 --> 0:35:43.080
<v Speaker 1>about a hundred and fifty thousand dollars in less. Actually,

0:35:43.120 --> 0:35:45.480
<v Speaker 1>I look at loans that are five thousands or twenty

0:35:45.480 --> 0:35:50.680
<v Speaker 1>thousand dollars, and we have provided funding for I would

0:35:50.719 --> 0:35:55.520
<v Speaker 1>say of the loan volume and value of the loans

0:35:56.040 --> 0:36:00.120
<v Speaker 1>really went to low income counties. And that's why as

0:36:00.120 --> 0:36:03.480
<v Speaker 1>I traveled throughout the United States, I've visited those particular

0:36:03.520 --> 0:36:08.480
<v Speaker 1>communities and and the businesses have been hit the hardest Kevin,

0:36:08.760 --> 0:36:15.120
<v Speaker 1>like the restaurants for the manufacturing and and Javida. I

0:36:15.200 --> 0:36:18.919
<v Speaker 1>want to ask you specifically about some of the criticism

0:36:19.040 --> 0:36:22.160
<v Speaker 1>about the data that has been made public. Democrats have

0:36:22.280 --> 0:36:26.840
<v Speaker 1>raised concerns that, uh, the smaller sized loans have not

0:36:27.040 --> 0:36:30.399
<v Speaker 1>yet been disclosed. Loans that are that are fewer than

0:36:30.719 --> 0:36:34.320
<v Speaker 1>a hundred and fifty thousand dollars for those approve learned loans.

0:36:34.560 --> 0:36:41.520
<v Speaker 1>Why why is that information considered proprietary or confidential. Kevin,

0:36:41.520 --> 0:36:44.440
<v Speaker 1>that's an excellent question, because as an administrator of a

0:36:44.440 --> 0:36:50.439
<v Speaker 1>small business administration, I take UM my fraudciary responsibility very

0:36:50.480 --> 0:36:56.319
<v Speaker 1>seriously about protecting proprietary and confidence in competitive information and

0:36:56.400 --> 0:37:01.680
<v Speaker 1>the smallest, the small smallest businesses like the sole proprietors

0:37:01.760 --> 0:37:04.799
<v Speaker 1>or for that matter, the independent contractors. I always use

0:37:04.880 --> 0:37:08.400
<v Speaker 1>as as an example, Kevin, here you have a woman,

0:37:09.080 --> 0:37:13.520
<v Speaker 1>single parent, single parent, who's an uber or lift driver,

0:37:14.400 --> 0:37:17.759
<v Speaker 1>and her home address is her business address, and she's

0:37:17.800 --> 0:37:21.160
<v Speaker 1>applying for something like less than five thousand dollars. That

0:37:21.360 --> 0:37:25.040
<v Speaker 1>is very confidential information. And that's the information that we

0:37:25.040 --> 0:37:28.759
<v Speaker 1>were trying to protect when we were very specific about

0:37:28.800 --> 0:37:32.200
<v Speaker 1>what we would release and what we wouldn't release. UM.

0:37:32.360 --> 0:37:36.640
<v Speaker 1>You know, the g a O Office and Congressional Oversight members,

0:37:36.680 --> 0:37:43.960
<v Speaker 1>they've received information UM that's unique to their particular UM requirements,

0:37:43.960 --> 0:37:47.600
<v Speaker 1>but as it relates to the public information, that's why

0:37:47.719 --> 0:37:52.160
<v Speaker 1>we protected certain certain loan values and and beyond that.

0:37:52.320 --> 0:37:56.719
<v Speaker 1>Just on Saturday, the President extending the deadline for p

0:37:56.719 --> 0:38:00.200
<v Speaker 1>P P loans I believe until August eight, and there

0:38:00.360 --> 0:38:03.080
<v Speaker 1>I think it's a hundred and thirty plus billion dollars

0:38:03.080 --> 0:38:07.279
<v Speaker 1>worth of remaining funds for for small businesses loans. Do

0:38:07.360 --> 0:38:10.920
<v Speaker 1>you think if if that money isn't isn't used up

0:38:11.040 --> 0:38:14.080
<v Speaker 1>by August eight, where do you think that will go?

0:38:14.360 --> 0:38:17.719
<v Speaker 1>And what is the best way to appropriate the leftover

0:38:18.239 --> 0:38:21.799
<v Speaker 1>funds specifically to targets to really micro target some of

0:38:21.840 --> 0:38:25.560
<v Speaker 1>these small businesses micro businesses even around the country that

0:38:25.640 --> 0:38:30.320
<v Speaker 1>are the backbone of of of America's economy. Well, Kevin,

0:38:30.360 --> 0:38:34.239
<v Speaker 1>let me answer your question to fold. The President took

0:38:34.280 --> 0:38:38.840
<v Speaker 1>historic action and very focused on small business, small businesses

0:38:38.880 --> 0:38:43.560
<v Speaker 1>and their employees, and he made available hundreds of billions

0:38:43.560 --> 0:38:47.239
<v Speaker 1>of dollars. We've already processed a half a trillion dollars

0:38:47.239 --> 0:38:50.520
<v Speaker 1>worth of funds for small businesses. You have the data,

0:38:51.400 --> 0:38:55.400
<v Speaker 1>and so that represents again, I can't emphasize more fifty

0:38:55.440 --> 0:38:59.360
<v Speaker 1>one million jobs. And if the one hundred and twenty

0:38:59.440 --> 0:39:04.160
<v Speaker 1>five for one five billion dollars that remains and that's

0:39:04.160 --> 0:39:08.920
<v Speaker 1>available through August eight, were really focused on continuing to

0:39:09.080 --> 0:39:13.160
<v Speaker 1>provide funds for sole proprietors and independent contractors because Kevin,

0:39:13.520 --> 0:39:16.680
<v Speaker 1>many of them were apprehensive and some of them returned

0:39:16.719 --> 0:39:21.880
<v Speaker 1>their loans. And so we are encouraging for these particular

0:39:21.920 --> 0:39:24.840
<v Speaker 1>businesses to work with their local lenders, and we have

0:39:25.400 --> 0:39:30.960
<v Speaker 1>over fifty undred lending partners, and Kevin, you'd be pleased

0:39:31.000 --> 0:39:34.920
<v Speaker 1>to know that there are more sedifies and credit unions

0:39:34.960 --> 0:39:39.160
<v Speaker 1>applying to be authorized so that they can provide p

0:39:39.320 --> 0:39:42.879
<v Speaker 1>p P loans because it's a forgivable loan. As long

0:39:42.920 --> 0:39:46.040
<v Speaker 1>as the small business can demonstrate that they've used their

0:39:46.040 --> 0:39:51.080
<v Speaker 1>funds to retain their employees as well as their operating costs,

0:39:50.800 --> 0:39:54.920
<v Speaker 1>that's like a win win proposition. The loan will be forgiven.

0:39:55.400 --> 0:40:01.160
<v Speaker 1>So I really expect maybe a slow intake, but um

0:40:01.200 --> 0:40:04.759
<v Speaker 1>definitely more businesses. Unique businesses will be applying for these

0:40:04.800 --> 0:40:11.640
<v Speaker 1>moans again in the PPP Loan portfolio, but also we

0:40:11.719 --> 0:40:15.400
<v Speaker 1>have the disaster Loan portfolio, which is called the Economic

0:40:15.440 --> 0:40:20.040
<v Speaker 1>Injury Disaster Loan Portfolio, the COVID that has I'm going

0:40:20.080 --> 0:40:23.160
<v Speaker 1>to see about another eighty than ninety billion dollars available

0:40:23.200 --> 0:40:26.839
<v Speaker 1>for small businesses. I just got a couple more questions. Yeah,

0:40:27.160 --> 0:40:28.520
<v Speaker 1>I know you are, and that's why I want to

0:40:28.520 --> 0:40:30.200
<v Speaker 1>be very respectful of your time. And I've just got

0:40:30.239 --> 0:40:34.880
<v Speaker 1>a couple more questions because as as Congress gets it,

0:40:35.000 --> 0:40:37.400
<v Speaker 1>rolls up their sleeve and tries to get to some

0:40:37.480 --> 0:40:40.280
<v Speaker 1>type of another round of economic stimulus, and the President

0:40:40.280 --> 0:40:42.760
<v Speaker 1>has come out and said he once days Leader McConnell

0:40:42.800 --> 0:40:46.520
<v Speaker 1>has said, but before August recess, but what do you

0:40:46.560 --> 0:40:50.840
<v Speaker 1>think are some creative ways to target micro businesses, to

0:40:50.880 --> 0:40:53.000
<v Speaker 1>target these mom and pop shops and I don't like

0:40:53.120 --> 0:40:57.440
<v Speaker 1>using that cliche, but these small town businesses. What are

0:40:57.480 --> 0:41:00.160
<v Speaker 1>some new ways that we can we can help as

0:41:00.200 --> 0:41:05.920
<v Speaker 1>businesses um in the next stimulus that you'd like to say, yes, Kevin,

0:41:06.280 --> 0:41:10.319
<v Speaker 1>there's a lot of discussion in the negotiations currently. We've

0:41:10.360 --> 0:41:15.160
<v Speaker 1>submitted some of our recommendations to them concerning our what

0:41:15.200 --> 0:41:18.320
<v Speaker 1>we call the flagship um loan portfolio, which is A

0:41:18.400 --> 0:41:21.879
<v Speaker 1>seven A the Fible four which really focuses on manufacturing

0:41:21.920 --> 0:41:26.359
<v Speaker 1>and focus. It focuses really in the underserved communities where

0:41:26.400 --> 0:41:29.120
<v Speaker 1>six of their employees have to come from that community.

0:41:29.520 --> 0:41:32.080
<v Speaker 1>So we're really interested in the seven eight Bible or

0:41:32.080 --> 0:41:35.719
<v Speaker 1>portfolio in the community advantage. We've also looked at our

0:41:36.040 --> 0:41:39.760
<v Speaker 1>federal chairman, our government contracting office, and then they're also

0:41:40.080 --> 0:41:44.080
<v Speaker 1>there's also other um considerations on the table where we

0:41:44.760 --> 0:41:47.640
<v Speaker 1>definitely are listening to all our small businesses and the

0:41:47.800 --> 0:41:52.399
<v Speaker 1>chambers and the trade associations on what they believe would

0:41:52.440 --> 0:41:57.040
<v Speaker 1>be necessary to two again assist these small businesses to

0:41:57.080 --> 0:41:59.920
<v Speaker 1>whether this particular storm, this pandemic was only supposed to

0:42:00.000 --> 0:42:03.759
<v Speaker 1>as two or three weeks. Kevin, that was the first lifeline,

0:42:04.000 --> 0:42:06.480
<v Speaker 1>and then it was expanded to the second trans of funds,

0:42:06.480 --> 0:42:09.919
<v Speaker 1>which we now still have a hundred and twenty five

0:42:10.000 --> 0:42:12.560
<v Speaker 1>thousand of US I'm sorry, a hundred and fifty billion

0:42:13.200 --> 0:42:17.200
<v Speaker 1>available all in s b A. So, Kevin, we want

0:42:17.239 --> 0:42:22.680
<v Speaker 1>to make sure that the small business community continues to

0:42:23.000 --> 0:42:28.680
<v Speaker 1>thrive like they did pre COVID pandemic. Because I'll give

0:42:28.719 --> 0:42:32.360
<v Speaker 1>you a couple of statistics. The Hispanic women small businesses

0:42:32.400 --> 0:42:36.200
<v Speaker 1>and the African American small women's small businesses were the

0:42:36.280 --> 0:42:44.480
<v Speaker 1>fastest growing small businesses pre pandemic, and they were significant employers,

0:42:44.520 --> 0:42:47.759
<v Speaker 1>and they definitely represent half of the GDP in the

0:42:47.840 --> 0:42:52.000
<v Speaker 1>United States that represents something like ten to eleven trillion dollars.

0:42:52.760 --> 0:42:56.799
<v Speaker 1>So I hope that brings in an appreciation why this

0:42:56.920 --> 0:43:01.439
<v Speaker 1>president is so focused on small business and mister administrations

0:43:01.440 --> 0:43:05.760
<v Speaker 1>focus on small businesses because they are such a essential

0:43:06.600 --> 0:43:12.239
<v Speaker 1>um economic fuel engine into our national economy. And that

0:43:12.320 --> 0:43:15.480
<v Speaker 1>sets up for my for my final question UH to

0:43:15.640 --> 0:43:21.200
<v Speaker 1>you specifically you mentioned just about how disproportionately certain minority

0:43:21.239 --> 0:43:24.719
<v Speaker 1>groups as well as rural communities have been impacted from

0:43:24.719 --> 0:43:29.680
<v Speaker 1>an economic standpoint, and just the need to really make

0:43:29.760 --> 0:43:35.080
<v Speaker 1>sure that that is UH, that that's revitalized, especially UH

0:43:35.200 --> 0:43:38.640
<v Speaker 1>during this recovery and and oftentimes those smaller businesses are

0:43:38.640 --> 0:43:42.040
<v Speaker 1>more difficult to get access to just given for a

0:43:42.120 --> 0:43:45.200
<v Speaker 1>variety of reasons, but for the government to directly access

0:43:45.600 --> 0:43:49.760
<v Speaker 1>that those and penetrate those small businesses. So how crucial

0:43:49.880 --> 0:43:54.839
<v Speaker 1>is it that these minority communities, that these underserved communities

0:43:54.880 --> 0:43:57.960
<v Speaker 1>around the country are able to have direct access and

0:43:58.000 --> 0:44:02.799
<v Speaker 1>a direct pipeline into the federal government and Congress to

0:44:02.920 --> 0:44:04.920
<v Speaker 1>make sure that they are a part of this recovery

0:44:04.920 --> 0:44:09.840
<v Speaker 1>and not left behind. Well, Kevin, as an advocate for

0:44:09.880 --> 0:44:12.759
<v Speaker 1>small business Administration and the fact that we recognize as

0:44:12.760 --> 0:44:17.520
<v Speaker 1>the thirty one million small businesses come we've only only

0:44:18.480 --> 0:44:26.040
<v Speaker 1>processed about fifteen million small business financial transactions. We understand

0:44:26.719 --> 0:44:29.760
<v Speaker 1>we have our work cut out, and so we remain

0:44:29.920 --> 0:44:33.799
<v Speaker 1>laser focused on the opportunity zones the US, the U

0:44:33.960 --> 0:44:37.080
<v Speaker 1>s m c A, because small businesses are very significant

0:44:37.080 --> 0:44:42.759
<v Speaker 1>exporters in every state in Mexico and UM Canada are

0:44:43.040 --> 0:44:48.680
<v Speaker 1>definitely markets that small businesses explore as an initial trading partner.

0:44:49.080 --> 0:44:53.960
<v Speaker 1>So the President's pro growth policies will further accelerate the recovery.

0:44:54.239 --> 0:44:58.319
<v Speaker 1>And I'm ensuring that the entire s b A and

0:44:58.400 --> 0:45:02.839
<v Speaker 1>our partners, which is comm Merce, Department of Labor, the Chambers,

0:45:03.239 --> 0:45:08.000
<v Speaker 1>We're going at the small business community as a whole government,

0:45:08.400 --> 0:45:11.560
<v Speaker 1>not just s b A. So we're we're totally committed

0:45:11.600 --> 0:45:14.600
<v Speaker 1>in the underserved market, from the tribal nations, to the veterans,

0:45:14.600 --> 0:45:19.120
<v Speaker 1>to the women owned and minority in general. I want

0:45:19.160 --> 0:45:20.400
<v Speaker 1>to thank you for your time, and I'm gonna leave

0:45:20.400 --> 0:45:21.880
<v Speaker 1>it there. I know you were on a tight schedule,

0:45:21.920 --> 0:45:23.520
<v Speaker 1>so I want to keep you on time. Uh, And

0:45:23.560 --> 0:45:28.560
<v Speaker 1>I'm very appreciate. Thank you, very very much. I'm Kevin's

0:45:28.600 --> 0:45:31.880
<v Speaker 1>really chief Washington correspondent for Bloomberg Television and for Bloomberg Radio.

0:45:31.920 --> 0:45:35.800
<v Speaker 1>We are joined by a spokesman for President Trump, Ben Williamson. Ben,

0:45:36.040 --> 0:45:38.359
<v Speaker 1>I want to get your reaction to something that I've

0:45:38.360 --> 0:45:41.560
<v Speaker 1>been hearing a lot from administration sources, and that is

0:45:42.040 --> 0:45:44.560
<v Speaker 1>to not to look at the number of cases that

0:45:44.600 --> 0:45:47.200
<v Speaker 1>are being reported, but to also pay attention to the

0:45:47.280 --> 0:45:51.359
<v Speaker 1>case fatality rate of COVID nineteen. Explain to me why

0:45:51.400 --> 0:45:54.879
<v Speaker 1>that's important and what the difference is. Well, Kevin, first

0:45:54.920 --> 0:45:56.400
<v Speaker 1>of all, it's great to be with you. Thanks so

0:45:56.480 --> 0:45:58.719
<v Speaker 1>much for having me, And that's exactly right. I think

0:45:58.760 --> 0:46:02.200
<v Speaker 1>those are those are all additional metrics that we need

0:46:02.239 --> 0:46:05.440
<v Speaker 1>to be looking at in addition two cases. It's true

0:46:05.480 --> 0:46:08.240
<v Speaker 1>that we're seeing, you know, cases rise in some areas

0:46:08.280 --> 0:46:11.440
<v Speaker 1>across the country. We have different hot zones that are

0:46:11.480 --> 0:46:14.080
<v Speaker 1>popping up, and we're we're working with states and localities

0:46:14.160 --> 0:46:16.200
<v Speaker 1>to deal with that. But a lot of that is

0:46:16.200 --> 0:46:18.880
<v Speaker 1>because we're increasing testing. You know, we've hit over forty

0:46:18.960 --> 0:46:22.000
<v Speaker 1>million tests. I believe the number is now um And

0:46:22.040 --> 0:46:24.120
<v Speaker 1>as a result of that increased number of testing, you're

0:46:24.120 --> 0:46:28.279
<v Speaker 1>gonna be catching a lot more asymptomatic cases, cases that

0:46:28.360 --> 0:46:33.759
<v Speaker 1>maybe aren't quite as serious as hospitalization rates may indicate. Uh.

0:46:33.800 --> 0:46:35.759
<v Speaker 1>And so that's a couple of other things that we

0:46:35.800 --> 0:46:38.080
<v Speaker 1>have to look at. Is number one, what are the

0:46:38.120 --> 0:46:41.719
<v Speaker 1>hospitalization numbers? And the number two, what are the fatality

0:46:41.800 --> 0:46:44.640
<v Speaker 1>rates that we're experiencing. And the data does look good

0:46:44.640 --> 0:46:46.520
<v Speaker 1>on those two fronts. We have one of the lowest

0:46:46.640 --> 0:46:48.719
<v Speaker 1>fatality rates in the world. I think we're a little

0:46:48.760 --> 0:46:52.600
<v Speaker 1>bit below or around four percent, which is significantly lower

0:46:52.600 --> 0:46:55.279
<v Speaker 1>than some of our competitors across the globe. And so

0:46:55.320 --> 0:46:58.880
<v Speaker 1>when we look at that, when we consider the numbers

0:46:58.920 --> 0:47:01.760
<v Speaker 1>that we're dealing with, those certainly two of the indicators

0:47:01.760 --> 0:47:03.680
<v Speaker 1>that we want to look at to see exactly how situation,

0:47:03.760 --> 0:47:07.000
<v Speaker 1>how serious the situation is. And meanwhile, we're staring down

0:47:07.040 --> 0:47:10.000
<v Speaker 1>the prospects of another economic stimulus sent a Majority Leader

0:47:10.040 --> 0:47:12.759
<v Speaker 1>Mitch McConnell has said he wants to see another round

0:47:12.760 --> 0:47:16.799
<v Speaker 1>of stimulus ahead of the August recess. Administration officials have

0:47:16.920 --> 0:47:20.120
<v Speaker 1>also suggested as much what is the White House want

0:47:20.160 --> 0:47:23.560
<v Speaker 1>to see included in the next round of economic stimulus,

0:47:23.600 --> 0:47:28.680
<v Speaker 1>especially as talks for Phase four continue to intensify. Well,

0:47:28.719 --> 0:47:31.120
<v Speaker 1>I think we're where Secretary of Minution mentioned the other

0:47:31.200 --> 0:47:34.680
<v Speaker 1>day in a press conference, you know, protect job, protect kids,

0:47:35.360 --> 0:47:38.719
<v Speaker 1>and protect liabilities. We want any stimulus coming out of

0:47:38.760 --> 0:47:40.719
<v Speaker 1>Comngress to make sure that number one, we make it

0:47:40.800 --> 0:47:43.920
<v Speaker 1>easier for people to get back to work, for businesses

0:47:44.040 --> 0:47:47.800
<v Speaker 1>to to rehire their employee, used to jump start the economy,

0:47:47.840 --> 0:47:49.800
<v Speaker 1>and make sure that our economy can get back to normal.

0:47:50.520 --> 0:47:52.080
<v Speaker 1>And then number two, we also want to make sure

0:47:52.120 --> 0:47:54.320
<v Speaker 1>that it's easier for kids to go back to school.

0:47:54.320 --> 0:47:57.760
<v Speaker 1>The economy can't really open and get back to normal

0:47:57.840 --> 0:48:00.680
<v Speaker 1>unless schools are open, and we want to work hand

0:48:00.719 --> 0:48:03.040
<v Speaker 1>in hand with states and localities to make sure that

0:48:03.120 --> 0:48:06.920
<v Speaker 1>schools can open safely, the children can be safe in school,

0:48:06.960 --> 0:48:09.600
<v Speaker 1>and the teachers can be safe in school. So that's

0:48:09.640 --> 0:48:11.359
<v Speaker 1>something that we want to address. And then number three,

0:48:11.360 --> 0:48:13.160
<v Speaker 1>we want to look at liabilities. We want to make

0:48:13.200 --> 0:48:18.600
<v Speaker 1>sure that businesses can open without fear of liability that

0:48:18.600 --> 0:48:22.839
<v Speaker 1>will damage their business or or costume enough where it's

0:48:22.880 --> 0:48:26.600
<v Speaker 1>not worth reopening in the age of COVID. So Secretary

0:48:26.680 --> 0:48:29.680
<v Speaker 1>Minution is leading those negotiations, will be working hand in

0:48:29.719 --> 0:48:34.160
<v Speaker 1>hand with Leader McConnell and our our Democratic counterparts in

0:48:34.160 --> 0:48:35.640
<v Speaker 1>the Senate as well, and we look forward to seeing

0:48:35.640 --> 0:48:38.080
<v Speaker 1>where those negotiations go. You know, Ben Williamson's on the line.

0:48:38.120 --> 0:48:40.680
<v Speaker 1>He's a spokesman for President Trump working at the White House.

0:48:40.680 --> 0:48:44.800
<v Speaker 1>He previously worked for the Chief the now Chief of Staff,

0:48:44.800 --> 0:48:48.239
<v Speaker 1>Mark Meadows, but previously for then Congressman Mark Meadows. So

0:48:48.280 --> 0:48:50.680
<v Speaker 1>he knows a thing or two about the dynamics of Congress,

0:48:50.680 --> 0:48:56.040
<v Speaker 1>the Republican Party and its relationship obviously with six Pennsylvania Avenue.

0:48:56.040 --> 0:48:57.560
<v Speaker 1>But I want to bring it back then to something

0:48:57.600 --> 0:49:01.200
<v Speaker 1>you mentioned about schools, because at personally, I don't think

0:49:01.200 --> 0:49:03.719
<v Speaker 1>economists are talking enough about this and the impact that

0:49:03.760 --> 0:49:07.839
<v Speaker 1>it has on the psychology of the American worker, especially

0:49:08.200 --> 0:49:10.600
<v Speaker 1>if they don't feel safe sending their kids back to schools.

0:49:10.640 --> 0:49:12.640
<v Speaker 1>I mean, how are they expected to go back to work?

0:49:12.800 --> 0:49:14.840
<v Speaker 1>But then you throw into the mix of of kids

0:49:14.880 --> 0:49:18.080
<v Speaker 1>playing with each other going to schools, you know, and

0:49:18.080 --> 0:49:21.040
<v Speaker 1>and and all of these hosts of different questions. And

0:49:21.080 --> 0:49:23.680
<v Speaker 1>so you mentioned this, and I want to follow up

0:49:23.719 --> 0:49:27.120
<v Speaker 1>on it. What does Congress need to do in the

0:49:27.120 --> 0:49:30.880
<v Speaker 1>next round of economic stimulus to help ease some of

0:49:30.880 --> 0:49:34.960
<v Speaker 1>the concerns that parents have for sending their children back

0:49:35.000 --> 0:49:37.960
<v Speaker 1>to the classroom. You you hit the nail on that

0:49:38.360 --> 0:49:42.960
<v Speaker 1>this is one of the more under discussed topics, uh

0:49:43.000 --> 0:49:45.319
<v Speaker 1>in all of Washington, d C. As far as the

0:49:45.360 --> 0:49:50.200
<v Speaker 1>impacts that the reopening schools has not only on the economy,

0:49:50.200 --> 0:49:52.600
<v Speaker 1>but but on on mental health, on the on the

0:49:52.680 --> 0:49:56.960
<v Speaker 1>fabric of communities, on psychology of both kids and parents.

0:49:57.040 --> 0:49:59.799
<v Speaker 1>It's not just parents having the freedom to get back

0:49:59.800 --> 0:50:03.320
<v Speaker 1>to work and provide for their families. But it's it's kids.

0:50:03.320 --> 0:50:05.400
<v Speaker 1>It's kids being out in the community, it's kids playing

0:50:05.400 --> 0:50:08.880
<v Speaker 1>with each other learning. Uh, schools are such a huge

0:50:08.960 --> 0:50:13.600
<v Speaker 1>driver of our success economically as a country. You're exactly

0:50:13.680 --> 0:50:15.360
<v Speaker 1>right about that. And so what Congress wants to do.

0:50:15.400 --> 0:50:17.120
<v Speaker 1>I think Kevin McCarthy had a not bet on this

0:50:17.200 --> 0:50:20.040
<v Speaker 1>kind of explaining a little bit about what what what

0:50:20.080 --> 0:50:21.560
<v Speaker 1>we want to do. But we want to work hand

0:50:21.600 --> 0:50:25.080
<v Speaker 1>in hand with states and localities to make sure that

0:50:25.160 --> 0:50:27.960
<v Speaker 1>they have both the funds and the resources to open

0:50:28.040 --> 0:50:30.400
<v Speaker 1>up safely. And what that looks like, we won't get

0:50:30.440 --> 0:50:33.160
<v Speaker 1>out ahead of of the negotiations. It could look like

0:50:33.200 --> 0:50:36.080
<v Speaker 1>any number of of safety measures. But but we want

0:50:36.120 --> 0:50:39.080
<v Speaker 1>to make sure that from from Pennsylvania Avenue that we're

0:50:39.239 --> 0:50:42.919
<v Speaker 1>there for states and local governments to make sure they

0:50:42.960 --> 0:50:46.040
<v Speaker 1>have measures to protect kids and then also work with

0:50:46.120 --> 0:50:49.680
<v Speaker 1>Congress if funds are necessary to do that. We're we're

0:50:49.680 --> 0:50:51.359
<v Speaker 1>willing to be right there with them to make sure

0:50:51.400 --> 0:50:54.400
<v Speaker 1>that kids can get back to schools, that life can

0:50:54.440 --> 0:50:56.480
<v Speaker 1>get back to as normal as possible. What we deal

0:50:56.520 --> 0:51:00.600
<v Speaker 1>with ultimately therapeutics and a vaccine for COVID. I'm Kevin Surli,

0:51:00.640 --> 0:51:04.000
<v Speaker 1>Chief Washington correspondent for Bloomberg Television and for Bloomberg Radio,

0:51:04.040 --> 0:51:07.520
<v Speaker 1>and we're joined by CMS Administrator Verma. Thank you so

0:51:07.600 --> 0:51:10.440
<v Speaker 1>much for being here. I want to ask you. On

0:51:10.520 --> 0:51:15.279
<v Speaker 1>November one, CMS issued a final rule which would enact

0:51:15.360 --> 0:51:19.480
<v Speaker 1>payment restrictions to non evaluation and management services in the

0:51:19.600 --> 0:51:23.279
<v Speaker 1>Medicare system. After COVID and seeing the need for some

0:51:23.360 --> 0:51:25.160
<v Speaker 1>of these health servants is do you think that rule

0:51:25.160 --> 0:51:28.400
<v Speaker 1>has got to be postponed until until we are through

0:51:28.400 --> 0:51:31.000
<v Speaker 1>this or do you think we could still follow through

0:51:31.000 --> 0:51:34.080
<v Speaker 1>with that. Wells a couple of things to know about

0:51:34.080 --> 0:51:37.120
<v Speaker 1>this rule. First of all, this rule was trying to

0:51:37.200 --> 0:51:40.319
<v Speaker 1>reduce the burden that physicians based every day with the

0:51:40.360 --> 0:51:42.719
<v Speaker 1>Medicare program. We know that there's just a lot of

0:51:42.800 --> 0:51:46.360
<v Speaker 1>challenges and billing and they spend you know, unfortunately more

0:51:46.400 --> 0:51:49.160
<v Speaker 1>time away from their patients, and this rule is designed

0:51:49.160 --> 0:51:51.839
<v Speaker 1>to give them more time face to face time with

0:51:51.960 --> 0:51:54.759
<v Speaker 1>their patients. Um. The other thing that it does is

0:51:54.760 --> 0:51:59.000
<v Speaker 1>that it really reimburses physicians for the time that they're

0:51:59.040 --> 0:52:01.640
<v Speaker 1>spending with their pay patients. A lot of times, the

0:52:01.680 --> 0:52:03.919
<v Speaker 1>way the system has worked in the past is that

0:52:04.239 --> 0:52:07.920
<v Speaker 1>it doesn't really advantage those providers are primary care doctors

0:52:07.960 --> 0:52:10.640
<v Speaker 1>that are on the front lines dealing with our patients

0:52:10.640 --> 0:52:13.160
<v Speaker 1>that have multiple comorbidities. You know, a lot of our

0:52:13.160 --> 0:52:16.680
<v Speaker 1>patients now have diabetes, hypertension, and a lot of different

0:52:16.680 --> 0:52:19.520
<v Speaker 1>disease issues all going on at once, and they need

0:52:19.560 --> 0:52:22.040
<v Speaker 1>more time with their doctors. And so the changes that

0:52:22.120 --> 0:52:26.040
<v Speaker 1>we made um reimburse providers for spending time with their

0:52:26.080 --> 0:52:30.520
<v Speaker 1>patients and reducing their burden. So and and even during

0:52:30.560 --> 0:52:34.160
<v Speaker 1>this and you know, this administrative verma, during this crisis,

0:52:34.200 --> 0:52:37.920
<v Speaker 1>the elderly have been incredibly incredibly impacted both from a

0:52:37.920 --> 0:52:40.880
<v Speaker 1>psychological perspective in terms of not being able to be

0:52:40.960 --> 0:52:43.960
<v Speaker 1>with loved ones for their own safety. Uh and and

0:52:43.960 --> 0:52:48.000
<v Speaker 1>and economically as well. Uh And I'm curious about Medicare

0:52:48.160 --> 0:52:50.319
<v Speaker 1>and whether or not you think, as we stare down

0:52:50.360 --> 0:52:54.080
<v Speaker 1>the potential for another economic stimulus, whether or not Medicare

0:52:54.120 --> 0:52:58.000
<v Speaker 1>payment increases might be something on the table for right now.

0:52:59.560 --> 0:53:00.960
<v Speaker 1>You know, one of the things that we've done in

0:53:00.960 --> 0:53:05.719
<v Speaker 1>the Medicare program is provide accelerated payments for our providers.

0:53:05.719 --> 0:53:08.600
<v Speaker 1>So if they've had trouble, our health care providers have

0:53:08.680 --> 0:53:11.320
<v Speaker 1>had trouble with finances, they've been able to seek loans

0:53:11.360 --> 0:53:13.919
<v Speaker 1>from the Medicare program. The other thing that we've done

0:53:14.000 --> 0:53:16.600
<v Speaker 1>is that the President has been focused on and and

0:53:16.760 --> 0:53:19.640
<v Speaker 1>UH is signing the Cares Act, and that actually provided

0:53:19.680 --> 0:53:22.960
<v Speaker 1>a hundred and seventy five billion dollars to providers across

0:53:23.000 --> 0:53:25.640
<v Speaker 1>the country. We know that providers have been hit hard.

0:53:25.719 --> 0:53:29.560
<v Speaker 1>They have increased costs for personal protective equipment, many of

0:53:29.600 --> 0:53:33.480
<v Speaker 1>them haven't been able to perform elective surgeries, and many

0:53:33.520 --> 0:53:36.800
<v Speaker 1>of them have closed down their practices. So those funds

0:53:36.840 --> 0:53:39.920
<v Speaker 1>are there to help the health care system deal with

0:53:40.000 --> 0:53:42.440
<v Speaker 1>the impact of the coronavirus. That being said, I can

0:53:42.480 --> 0:53:44.920
<v Speaker 1>tell you and from the Medicare program is we're starting

0:53:44.960 --> 0:53:47.759
<v Speaker 1>to see services come back up. We're seeing a lot

0:53:47.800 --> 0:53:50.960
<v Speaker 1>of our patients accessing telehealth services, which is one of

0:53:51.000 --> 0:53:53.200
<v Speaker 1>the things that the President is from the very beginning

0:53:53.640 --> 0:53:56.960
<v Speaker 1>UH to make sure that our Medicare beneficiaries could communicate

0:53:56.960 --> 0:54:00.440
<v Speaker 1>with their providers while they were sheltering in place. Do

0:54:00.480 --> 0:54:02.560
<v Speaker 1>you think we have enough doctors in the Medicare system

0:54:02.640 --> 0:54:05.239
<v Speaker 1>because so many people getting sick? Or is that is

0:54:05.280 --> 0:54:07.040
<v Speaker 1>that how many people should be concerned about it all?

0:54:08.280 --> 0:54:11.400
<v Speaker 1>You know, I think generally we're we're adding ten thousand

0:54:11.400 --> 0:54:15.319
<v Speaker 1>new beneficiaries in the Medicare program every single day. So

0:54:15.440 --> 0:54:18.200
<v Speaker 1>the needs on the health care system and the impact

0:54:18.280 --> 0:54:21.520
<v Speaker 1>are significant. But that's why the President has been focused

0:54:21.560 --> 0:54:25.320
<v Speaker 1>on workforce challenges. That's why we've been providing more flexibility

0:54:25.360 --> 0:54:28.200
<v Speaker 1>to the health care system, especially during COVID, so that

0:54:28.239 --> 0:54:31.760
<v Speaker 1>we can augment the workforce. We're allowing providers to operate

0:54:31.840 --> 0:54:34.359
<v Speaker 1>at the top of their license, whether it be our

0:54:34.440 --> 0:54:38.759
<v Speaker 1>nurse and necessis also providing more flexibility for nurse practitioners

0:54:38.800 --> 0:54:42.880
<v Speaker 1>so that we can make sure that especially those hot

0:54:42.880 --> 0:54:46.960
<v Speaker 1>spots and areas are able to address the surges and

0:54:47.000 --> 0:54:49.399
<v Speaker 1>that they have the capacity to address the health care

0:54:49.440 --> 0:54:52.880
<v Speaker 1>needs of their communities. SMS administrators team up. VERMA is

0:54:52.960 --> 0:54:55.759
<v Speaker 1>on the line and and you know, I'm struck by

0:54:55.800 --> 0:55:00.759
<v Speaker 1>this because we hear of all of the heroic, incredible

0:55:00.960 --> 0:55:04.120
<v Speaker 1>frontline workers who are just really you know, they're risking

0:55:04.160 --> 0:55:07.560
<v Speaker 1>their lives, they're working these incredibly long shifts. And then

0:55:07.560 --> 0:55:10.640
<v Speaker 1>I get angry because I hear about the fraudsters, and

0:55:10.680 --> 0:55:14.520
<v Speaker 1>I hear about people taking advantage of of whether it's

0:55:14.520 --> 0:55:18.400
<v Speaker 1>the elderly, whether it's it's uh folks, you know, anyone really,

0:55:18.680 --> 0:55:21.160
<v Speaker 1>you know, and they're being fraudulent and they're tricking people

0:55:21.200 --> 0:55:24.239
<v Speaker 1>into making some telehealth payments. And you know, I know

0:55:24.280 --> 0:55:26.520
<v Speaker 1>that this has been something that you've really, you know,

0:55:26.640 --> 0:55:29.120
<v Speaker 1>pushed back against and been trying to stop. So what

0:55:29.200 --> 0:55:31.960
<v Speaker 1>are what are policymakers, what are you doing in order

0:55:31.960 --> 0:55:34.600
<v Speaker 1>to make sure that people aren't being It's it's crazy

0:55:34.640 --> 0:55:38.239
<v Speaker 1>to me, but that people aren't falling for these fraudsters. Yeah,

0:55:38.239 --> 0:55:41.480
<v Speaker 1>it was disappointing that those frousters would try to take

0:55:41.520 --> 0:55:45.479
<v Speaker 1>advantage of the American taxpayer during this very difficult time.

0:55:45.880 --> 0:55:49.840
<v Speaker 1>You know, we have weighed hundreds of regulations so that

0:55:49.960 --> 0:55:53.360
<v Speaker 1>the health care system could work better, more efficiently, especially

0:55:53.480 --> 0:55:56.760
<v Speaker 1>during this time of crisis, and unfortunately, people are taking

0:55:56.760 --> 0:55:59.120
<v Speaker 1>advantage of it. I can tell you at the agency

0:55:59.480 --> 0:56:02.239
<v Speaker 1>that we have focused on a very strong plan that

0:56:02.320 --> 0:56:05.480
<v Speaker 1>for every waiver, for every flexibility, we have a plan

0:56:05.800 --> 0:56:09.360
<v Speaker 1>to track potential prosters. So in telehealth, we've already found

0:56:09.400 --> 0:56:12.080
<v Speaker 1>some people that were billing for more services that were

0:56:12.160 --> 0:56:15.160
<v Speaker 1>humanly possible in a twenty four hour period. So, you know,

0:56:15.280 --> 0:56:17.920
<v Speaker 1>rest assured tax payers should know that behind the scenes,

0:56:18.000 --> 0:56:20.520
<v Speaker 1>we're looking for those individuals and we'll do everything we

0:56:20.560 --> 0:56:23.799
<v Speaker 1>can to um to to bring them to justice. And

0:56:23.880 --> 0:56:26.040
<v Speaker 1>just a final question for you, on the issue of telehealth,

0:56:26.040 --> 0:56:28.560
<v Speaker 1>I mean, it really is the future of medicine. What

0:56:28.560 --> 0:56:31.120
<v Speaker 1>what I I would argue it might be one of

0:56:31.120 --> 0:56:34.239
<v Speaker 1>the legacies of the of this horrible pandemic is that

0:56:34.600 --> 0:56:38.399
<v Speaker 1>it's telehealth has really surge to to read program really

0:56:38.400 --> 0:56:43.400
<v Speaker 1>how we view getting access to our healthcare. But what

0:56:43.400 --> 0:56:46.080
<v Speaker 1>what advances have been made in the telehealth field during

0:56:46.080 --> 0:56:49.240
<v Speaker 1>the last couple of months. Well, you know, the President

0:56:49.239 --> 0:56:52.200
<v Speaker 1>has been focused on making sure that we're bringing innovation

0:56:52.480 --> 0:56:57.319
<v Speaker 1>technology and really modernizing the Medicare program. So what we've

0:56:57.360 --> 0:57:00.360
<v Speaker 1>done from the very beginning, what he's done, and I

0:57:00.400 --> 0:57:03.800
<v Speaker 1>think this speaks to his leadership around without bringing every

0:57:03.840 --> 0:57:07.000
<v Speaker 1>tool possible to address the coronavirus. And so we made

0:57:07.000 --> 0:57:10.359
<v Speaker 1>telehealth available not only in the Medicare program, but also

0:57:10.440 --> 0:57:13.000
<v Speaker 1>in Medicaid. And it's been really important for people because

0:57:13.280 --> 0:57:15.840
<v Speaker 1>it's allowed them to receive healthcare in the safety of

0:57:15.880 --> 0:57:19.200
<v Speaker 1>their homes. And it's also helped keep our healthcare workers

0:57:19.200 --> 0:57:22.800
<v Speaker 1>safe and reduced use of protective equipment. Um. You know,

0:57:22.840 --> 0:57:25.960
<v Speaker 1>it's been amazing to see the rapid adoption across the

0:57:26.000 --> 0:57:29.240
<v Speaker 1>health care system. Our patients seem to like it. Doctors

0:57:29.240 --> 0:57:32.480
<v Speaker 1>were reluctant at first, but I think they're recognizing that

0:57:32.600 --> 0:57:36.920
<v Speaker 1>tallehealth can be a tool to increase accessibility of healthcare services.

0:57:37.000 --> 0:57:39.600
<v Speaker 1>So I've said that this is UH. The genie has

0:57:39.600 --> 0:57:41.080
<v Speaker 1>been let out of the bottle, and I don't think

0:57:41.080 --> 0:57:43.600
<v Speaker 1>there's any going back when it comes to tallehealth. I

0:57:43.600 --> 0:57:46.280
<v Speaker 1>think the American public have clearly seen that there are

0:57:46.920 --> 0:57:49.120
<v Speaker 1>that there is a place for telehealth in our health

0:57:49.160 --> 0:57:52.240
<v Speaker 1>care system. All Right, CMS administrators seem of verma. I

0:57:52.240 --> 0:57:53.440
<v Speaker 1>will let you out of here because I want to

0:57:53.480 --> 0:57:56.040
<v Speaker 1>be respectful of your time. Thank you so much for

0:57:57.120 --> 0:57:59.720
<v Speaker 1>thank you. All Right, So here we are Mark. We're

0:57:59.800 --> 0:58:03.080
<v Speaker 1>dealing with an uptick in cases and there's a lot

0:58:03.120 --> 0:58:06.520
<v Speaker 1>of questions about how to best control this TOTH Economic

0:58:06.600 --> 0:58:09.840
<v Speaker 1>officials have said as part of the administration that closing

0:58:09.880 --> 0:58:12.280
<v Speaker 1>down the economy again is just not on the table.

0:58:12.600 --> 0:58:16.720
<v Speaker 1>So how do we get this virus under control? Well,

0:58:16.760 --> 0:58:19.680
<v Speaker 1>closing down the economy is certainly not UH an option

0:58:19.720 --> 0:58:23.480
<v Speaker 1>that's on the table. When the United States asked Americans

0:58:23.560 --> 0:58:27.040
<v Speaker 1>to UH sacrifice for forty five days to slow the spread,

0:58:27.440 --> 0:58:30.880
<v Speaker 1>people made enormous sacrifices that gave us the time and

0:58:30.960 --> 0:58:34.160
<v Speaker 1>preparation to build supplies. Some across the globe to make

0:58:34.200 --> 0:58:36.600
<v Speaker 1>sure that our hostels are better prepared and to develop

0:58:36.680 --> 0:58:40.280
<v Speaker 1>better therapeutics. And today at this point, um doctors far

0:58:40.440 --> 0:58:43.040
<v Speaker 1>no far better how to treat patients. And what we're

0:58:43.080 --> 0:58:45.960
<v Speaker 1>seeing in many cases is an ability to to better

0:58:46.040 --> 0:58:48.640
<v Speaker 1>protect those that are most vulnerable, whether it's those who

0:58:48.640 --> 0:58:51.840
<v Speaker 1>have come more abidities or or those that are elderly

0:58:51.840 --> 0:58:54.800
<v Speaker 1>in age. And so what we're seeing now is a

0:58:55.200 --> 0:58:59.200
<v Speaker 1>is arising cases among younger populations twenty to forty four

0:58:59.280 --> 0:59:02.600
<v Speaker 1>years old. In some cases, um as, our health experts

0:59:02.600 --> 0:59:05.160
<v Speaker 1>will tell you from decisions that they've made that are

0:59:05.200 --> 0:59:08.240
<v Speaker 1>unwise about not taking the virus seriously. But in other

0:59:08.280 --> 0:59:11.200
<v Speaker 1>cases it's it's basically people getting back to work and

0:59:11.200 --> 0:59:14.720
<v Speaker 1>in some cases employers mandating that all employees get tested.

0:59:14.760 --> 0:59:17.320
<v Speaker 1>And you're finding people who are asymptomatic, which is good

0:59:17.320 --> 0:59:20.560
<v Speaker 1>to find so you can isolate them. But but we

0:59:20.640 --> 0:59:24.360
<v Speaker 1>are better able to treat patients. There's better a capacity

0:59:24.440 --> 0:59:27.560
<v Speaker 1>within our hospitals in these areas now and UH and

0:59:27.640 --> 0:59:30.440
<v Speaker 1>going back to to shut down is not an option.

0:59:30.480 --> 0:59:32.400
<v Speaker 1>We can do both. We can make sure that America

0:59:32.440 --> 0:59:35.200
<v Speaker 1>stays open and stays healthy. And I think that one

0:59:35.280 --> 0:59:38.440
<v Speaker 1>things we've learned through this, Kevin, is there's also enormous

0:59:38.480 --> 0:59:41.440
<v Speaker 1>health consequence to shutting down the economy, whether or not

0:59:41.560 --> 0:59:43.720
<v Speaker 1>that's a financial pain or whether or not that's the

0:59:43.760 --> 0:59:46.720
<v Speaker 1>psychological pain for many people. Mark, you know we're heading

0:59:46.760 --> 0:59:50.000
<v Speaker 1>into Phase four talks later this month. What are some

0:59:50.080 --> 0:59:55.120
<v Speaker 1>of the priorities for Phase four? Well, I think what

0:59:55.240 --> 0:59:58.720
<v Speaker 1>you're seeing, Kevin, is that over the last couple of months,

0:59:58.960 --> 1:00:02.440
<v Speaker 1>uh seven and a half million jobs that have returned.

1:00:03.200 --> 1:00:06.440
<v Speaker 1>At the at the nature of this epidemic, we've lost

1:00:06.440 --> 1:00:09.200
<v Speaker 1>a little over twenty million jobs, so a third of

1:00:09.200 --> 1:00:11.520
<v Speaker 1>the way back, and that means we have we still

1:00:11.560 --> 1:00:14.000
<v Speaker 1>have a significant way to go, but we're but the

1:00:14.440 --> 1:00:17.920
<v Speaker 1>strength of the last two months certainly surpassed expectations, and

1:00:17.960 --> 1:00:20.200
<v Speaker 1>we believe that you can continue to see that momentum

1:00:20.240 --> 1:00:22.600
<v Speaker 1>in the next month as well. I think we want

1:00:22.640 --> 1:00:25.680
<v Speaker 1>to make sure that um that people that are that

1:00:25.760 --> 1:00:29.120
<v Speaker 1>are still unemployed or hurting or protected. But at the

1:00:29.160 --> 1:00:32.640
<v Speaker 1>same time, UM, we want to we want to take

1:00:32.800 --> 1:00:35.920
<v Speaker 1>into consideration of fact the economy is bouncing back, and

1:00:36.000 --> 1:00:38.600
<v Speaker 1>once you try to contain the amount of spending, I

1:00:38.640 --> 1:00:40.440
<v Speaker 1>think that you've seen a price tag of about a

1:00:40.440 --> 1:00:42.800
<v Speaker 1>trillion dollars or less. There's obviously been a lot of

1:00:42.800 --> 1:00:45.560
<v Speaker 1>stimulus put in the system over the last couple of bills,

1:00:45.640 --> 1:00:48.400
<v Speaker 1>and so the price tag for us would be that.

1:00:48.520 --> 1:00:51.240
<v Speaker 1>And I think whether priorities for us is liability protection.

1:00:51.760 --> 1:00:54.080
<v Speaker 1>We think that's essential for employers bring people back to

1:00:54.120 --> 1:00:56.120
<v Speaker 1>work and just quickly the center of darg to Leader

1:00:56.120 --> 1:00:59.080
<v Speaker 1>mich McConnell says, another round of stimulus ahead of August

1:00:59.240 --> 1:01:00.760
<v Speaker 1>is at the times here that the White House is

1:01:00.800 --> 1:01:04.280
<v Speaker 1>working on. It is the timetable. The August recess for

1:01:04.320 --> 1:01:06.400
<v Speaker 1>Congress should be the first week in August, and so

1:01:06.560 --> 1:01:08.400
<v Speaker 1>by that timetables and we want to have a bill

1:01:08.440 --> 1:01:11.080
<v Speaker 1>on the President's desk. You know, something that is just

1:01:11.240 --> 1:01:14.080
<v Speaker 1>as important to the economy and and for folks getting

1:01:14.120 --> 1:01:16.840
<v Speaker 1>back to work is if their kids can go to school.

1:01:17.160 --> 1:01:19.160
<v Speaker 1>And this is something that I don't think economists have

1:01:19.200 --> 1:01:22.240
<v Speaker 1>talked a lot about publicly, but increasingly they are doing.

1:01:22.320 --> 1:01:25.360
<v Speaker 1>So where does school and getting kids back to school

1:01:25.360 --> 1:01:28.720
<v Speaker 1>in the fall based upon the data of the virus

1:01:28.760 --> 1:01:31.240
<v Speaker 1>all over the country, Mark, how does that factor in

1:01:31.280 --> 1:01:33.960
<v Speaker 1>and what is the administration doing in order to work

1:01:33.960 --> 1:01:37.200
<v Speaker 1>with schools across the country, Kevin, is a great question

1:01:37.240 --> 1:01:39.600
<v Speaker 1>You're exactly right. I think there's not been enough attention

1:01:39.640 --> 1:01:42.160
<v Speaker 1>paid to that to this point. Today the White House

1:01:42.200 --> 1:01:45.200
<v Speaker 1>is devoting almost an entire day to exactly that question.

1:01:45.520 --> 1:01:47.640
<v Speaker 1>The Vice presidentill be leading a call with all the

1:01:47.720 --> 1:01:50.760
<v Speaker 1>nation's governors this morning to talk about the importance of

1:01:50.800 --> 1:01:53.919
<v Speaker 1>making sure schools are reopened in the fall. Additionally, there'll

1:01:53.920 --> 1:01:56.160
<v Speaker 1>be a summit here at the White House throughout the

1:01:56.200 --> 1:01:59.920
<v Speaker 1>afternoon that will culminate with the President Vice President giving remark.

1:02:00.560 --> 1:02:03.600
<v Speaker 1>But recently, the American Academy of Pediatrics came out with

1:02:03.640 --> 1:02:06.560
<v Speaker 1>a study that said it's essential that children need to

1:02:06.600 --> 1:02:09.840
<v Speaker 1>get back in the classroom because developmentally they'll fall behind.

1:02:10.560 --> 1:02:13.280
<v Speaker 1>But as you mentioned, it's also in critically important that

1:02:13.320 --> 1:02:15.200
<v Speaker 1>if parents his kids are not able to go to school,

1:02:15.200 --> 1:02:17.560
<v Speaker 1>and parents are home with their kids, they're not able

1:02:17.560 --> 1:02:19.800
<v Speaker 1>to get back to work, and that's that's a big

1:02:20.560 --> 1:02:23.760
<v Speaker 1>challenge for our economy too. And so what we found

1:02:23.840 --> 1:02:27.280
<v Speaker 1>is all the evidence says that that actually the coronavirus

1:02:27.480 --> 1:02:30.920
<v Speaker 1>is less of a health risk two people under twenty

1:02:30.920 --> 1:02:34.560
<v Speaker 1>five years old than the average flu is. Conversely, it

1:02:34.640 --> 1:02:37.200
<v Speaker 1>is a greater risk that people at older populations, but

1:02:37.320 --> 1:02:40.240
<v Speaker 1>for children it is a very very low risk, and

1:02:40.280 --> 1:02:42.040
<v Speaker 1>it's something that we should be making sure that our

1:02:42.120 --> 1:02:45.480
<v Speaker 1>children are back in school across the country this fall. Alright,

1:02:45.520 --> 1:02:48.160
<v Speaker 1>final question for you because you mentioned therapeutics, and I

1:02:48.160 --> 1:02:50.720
<v Speaker 1>want to ask you about hydroxychloroquine because there seems to

1:02:50.760 --> 1:02:54.680
<v Speaker 1>be this this new uh interest from from President Trump

1:02:54.680 --> 1:02:57.880
<v Speaker 1>about hydroxychloroquine uh and and f d A. Talk to

1:02:57.920 --> 1:03:00.680
<v Speaker 1>me about how the f d A is streamlining regulations,

1:03:00.720 --> 1:03:03.040
<v Speaker 1>are really cutting through regulations in order to get some

1:03:03.080 --> 1:03:07.120
<v Speaker 1>of these therapeutics more quickly, uh and and what the

1:03:07.160 --> 1:03:11.439
<v Speaker 1>administration is doing on the therapeutic front. Well, Dr Han

1:03:11.480 --> 1:03:13.480
<v Speaker 1>has done a phenomenal job as head of the FDA

1:03:13.560 --> 1:03:16.080
<v Speaker 1>and helping to streamline, cut through some of the red tape.

1:03:16.080 --> 1:03:19.200
<v Speaker 1>And there right now um more than the hundred and

1:03:19.240 --> 1:03:23.280
<v Speaker 1>forty products in the pipeline that we should anticipate may

1:03:23.320 --> 1:03:25.840
<v Speaker 1>and getting amproved before the end of this year, and

1:03:25.880 --> 1:03:28.520
<v Speaker 1>you've seen many already actually come online. I think the

1:03:28.560 --> 1:03:32.640
<v Speaker 1>most promising candidly in trials that we've seen as blood plasma.

1:03:33.040 --> 1:03:34.440
<v Speaker 1>And it's one of the reasons that those who have

1:03:34.480 --> 1:03:38.120
<v Speaker 1>been infected and recovered from the coronavirus, we really asked

1:03:38.160 --> 1:03:40.960
<v Speaker 1>them to go donate blood because having that that in

1:03:41.040 --> 1:03:43.240
<v Speaker 1>the in the supply is really one of the best

1:03:43.320 --> 1:03:46.760
<v Speaker 1>treatments for patients that are currently suffering from the pandemic. Alright,

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<v Speaker 1>Mark short I got you out here with less than

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<v Speaker 1>a minutes ago. Thank you for your time. I appreciate it. Kevin, thanks,

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<v Speaker 1>thanks so much for having me. We're joined by Tyler

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<v Speaker 1>good speed UH and Tyler, thank you so much for

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<v Speaker 1>for joining us. I want to ask you about the

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<v Speaker 1>next rounds of economic stimulus. Senate Majority Leader Mitch McConnell

1:04:02.440 --> 1:04:04.840
<v Speaker 1>says by the end of August. Is that what the

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<v Speaker 1>White House wants and what does the White House want

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<v Speaker 1>to see in the next round of economic stimulus? Yeah,

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<v Speaker 1>so the White House we've had some internal discussions and

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<v Speaker 1>definitely we do want to see further action to facilitate

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<v Speaker 1>continued recovery, particularly in the labor market. I know that

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<v Speaker 1>some priorities over here include a payroll tax cut UH

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<v Speaker 1>and also possibly some some some deductions to help businesses

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<v Speaker 1>tackle the new COVID nineteen environment UM and and also

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<v Speaker 1>some live potential liability reform to ensure that businesses are

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<v Speaker 1>protected against excessive UH non economic damages for COVID related liability.

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<v Speaker 1>And then also we do want to make sure, especially

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<v Speaker 1>as the labor market continues to recover, that we're striking

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<v Speaker 1>the right balance between income replacement on the one hand

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<v Speaker 1>and ensuring that we don't have excessively high implicit tax

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<v Speaker 1>rates on the return to work on the other hand.

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<v Speaker 1>You know, I think that's really that's the point I

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<v Speaker 1>want to pick up on, is that is that increased taxes,

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<v Speaker 1>especially for individuals when they return to work. You know,

1:05:15.560 --> 1:05:18.280
<v Speaker 1>the unemployment benefits are are set to end, the extra

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<v Speaker 1>unemployment benefits are set to end at the end of

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<v Speaker 1>the month July. What do you think is going to

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<v Speaker 1>be done with stimulus and unemployment benefits? Right? So, I

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<v Speaker 1>think during the depths of the crisis, So when we

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<v Speaker 1>think back to April um you know, this was the

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<v Speaker 1>worst economic shock to the U. S economy since since

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<v Speaker 1>at least the nineteen thirties, and when we look at

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<v Speaker 1>all the economic indicators, I mean, it was on track

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<v Speaker 1>to be a really devastating economic contraction. And so with

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<v Speaker 1>a view to the fact that household spending is the U.

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<v Speaker 1>S economy, I think at the time it was very

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<v Speaker 1>important that we've made sure to really buffer household incomes

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<v Speaker 1>um and and make sure that we didn't see a

1:06:06.280 --> 1:06:09.080
<v Speaker 1>collapse in consumer spending. And so one of the things

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<v Speaker 1>about the the expanded unemployment insurance benefits and the rebate

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<v Speaker 1>checks is that they were very much targeted towards the

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<v Speaker 1>lower end of the income distribution. So when you look

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<v Speaker 1>at the months of household income replaced by the care

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<v Speaker 1>Zack provisions, they were very much geared towards the lower

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<v Speaker 1>end of the income distribution. So I think in any

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<v Speaker 1>any future rounds of discussions with with Congress, we want to,

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<v Speaker 1>as I said, make sure that we're we're not allowing

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<v Speaker 1>a big blow to household income and consequently to consumer spending,

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<v Speaker 1>while also making sure that we don't have really high

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<v Speaker 1>implicit tax rates on on that return to work. So

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<v Speaker 1>I think, what's what's interesting, and you know this, Tyler,

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<v Speaker 1>good speakers on the line with us. You know, in

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<v Speaker 1>terms of some Republicans that I talked to, they're a

1:06:58.440 --> 1:07:02.680
<v Speaker 1>bit nervous, Tyler, They're a bit nervous that, you know, yeah,

1:07:02.920 --> 1:07:05.919
<v Speaker 1>increase the unemployment benefits and folks will will be less

1:07:05.960 --> 1:07:09.040
<v Speaker 1>incentivized to go back to work. Is that a concern

1:07:09.120 --> 1:07:11.000
<v Speaker 1>that the White House has and how do you work

1:07:11.000 --> 1:07:14.120
<v Speaker 1>with policymakers on the hill to prevent that if that's

1:07:14.120 --> 1:07:18.200
<v Speaker 1>the case, right, So, as I said, yeah, we definitely

1:07:18.600 --> 1:07:23.320
<v Speaker 1>don't want to see uh implicit tax rates exceeding acent

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<v Speaker 1>meaning you know, the folks are financially better off on

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<v Speaker 1>unemployment insurance than than unemployment UM. And so you know,

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<v Speaker 1>we just we we definitely want to make sure that

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<v Speaker 1>we strike that right balance UM. And so one of

1:07:37.400 --> 1:07:40.000
<v Speaker 1>the things about some of the extraordinary provisions of the

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<v Speaker 1>CARES actors that they were set to expire, because I

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<v Speaker 1>think one of the lessons we learned in the aftermath

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<v Speaker 1>of two tho eight two thousand nine is that when

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<v Speaker 1>you have a lot of high implicit tax rates on work,

1:07:54.120 --> 1:07:56.880
<v Speaker 1>it can really hinder the recovery of the labor market.

1:07:57.400 --> 1:07:59.959
<v Speaker 1>And you know, until the labor market recovers, you don't

1:08:00.040 --> 1:08:03.840
<v Speaker 1>really observe a strong recovery and the overall economy. And

1:08:03.920 --> 1:08:05.920
<v Speaker 1>just the final question for you, Tyler good speed, and

1:08:05.920 --> 1:08:08.320
<v Speaker 1>this is about small businesses. How do we make sure

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<v Speaker 1>that in the recovery that Main Street is not going

1:08:13.000 --> 1:08:15.720
<v Speaker 1>to be left behind? Because when you look at you

1:08:15.760 --> 1:08:19.040
<v Speaker 1>know sort of how this is gone, It's been minority

1:08:19.080 --> 1:08:21.960
<v Speaker 1>groups who economically have really felt the brunt of this,

1:08:22.160 --> 1:08:25.640
<v Speaker 1>as well as some small businesses. So what can policymakers

1:08:25.640 --> 1:08:30.240
<v Speaker 1>do to prevent that? Great questions? So certainly, you know,

1:08:30.280 --> 1:08:33.240
<v Speaker 1>we've already seen in the Care's Act a lot of

1:08:33.280 --> 1:08:36.600
<v Speaker 1>the aid. In fact, most of the aid to businesses

1:08:36.640 --> 1:08:39.640
<v Speaker 1>were two small businesses. So the paycheck Protection program that

1:08:39.680 --> 1:08:43.400
<v Speaker 1>was very much geared towards small businesses. The average loan

1:08:43.479 --> 1:08:46.360
<v Speaker 1>size was just over a hundred thousand dollars and almost

1:08:46.760 --> 1:08:49.160
<v Speaker 1>of the loans approved were for a hundred fifty thousand

1:08:49.640 --> 1:08:53.000
<v Speaker 1>or less UM. I think moving forward, you know, we

1:08:53.040 --> 1:08:55.920
<v Speaker 1>want to make sure that any any continuing support for

1:08:55.920 --> 1:08:59.840
<v Speaker 1>for businesses are are likewise targeted towards smaller firms that

1:09:00.120 --> 1:09:03.160
<v Speaker 1>you know are have a more difficult time weathering some

1:09:03.200 --> 1:09:06.760
<v Speaker 1>of these adverse shocks. Um. And then on the on

1:09:06.840 --> 1:09:09.760
<v Speaker 1>the labor market front, you know, the faster we can

1:09:09.760 --> 1:09:13.720
<v Speaker 1>get folks back to work in a in a safe environment, um,

1:09:14.320 --> 1:09:16.880
<v Speaker 1>the faster we can help those at the lower end

1:09:16.880 --> 1:09:19.160
<v Speaker 1>of the income distribution. Because remember if we cast our

1:09:19.160 --> 1:09:23.840
<v Speaker 1>minds back to February, before the pandemic really got got

1:09:23.960 --> 1:09:26.640
<v Speaker 1>under way, Uh, it was the lower end of the

1:09:26.680 --> 1:09:30.000
<v Speaker 1>income distribution that was enjoying the fastest wage growth. African

1:09:30.000 --> 1:09:33.200
<v Speaker 1>Americans were, for the first time during the preceding expansion

1:09:33.520 --> 1:09:37.320
<v Speaker 1>experiencing faster wage growth than white Americans. Those without a

1:09:37.360 --> 1:09:40.440
<v Speaker 1>college degree, we're experiencing for the first time in the expansion,

1:09:40.640 --> 1:09:44.160
<v Speaker 1>faster wage growth than those with a college degree. Um,

1:09:44.200 --> 1:09:47.080
<v Speaker 1>you know, the faster we can return to that sort

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<v Speaker 1>of tight labor market, I think, you know, the quicker

1:09:50.280 --> 1:09:52.080
<v Speaker 1>we can return to a state of affairs in which

1:09:52.120 --> 1:09:55.480
<v Speaker 1>those who were previously left behind during the preceding expansion

1:09:55.840 --> 1:09:59.479
<v Speaker 1>can finally enjoy the fruits of a continuing expansion. So

1:09:59.560 --> 1:10:02.760
<v Speaker 1>I think we're definitely gonna keep keep focused on facilitating

1:10:03.560 --> 1:10:06.200
<v Speaker 1>labor market recovery because, as I said, until the labor

1:10:06.200 --> 1:10:08.720
<v Speaker 1>market recovers, we don't see, uh, we won't see a

1:10:09.560 --> 1:10:12.640
<v Speaker 1>broader economic recovery. And then just one final note, you

1:10:12.680 --> 1:10:16.880
<v Speaker 1>know we saw already in the June jobs report, job

1:10:16.920 --> 1:10:21.519
<v Speaker 1>gains for African Americans was the second highest on on record.

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<v Speaker 1>The record was actually in February, following the tax tax law. Um. So,

1:10:29.680 --> 1:10:32.479
<v Speaker 1>as I said, you know, the faster we can get

1:10:32.520 --> 1:10:36.760
<v Speaker 1>back to a tight growing labor market, the faster we

1:10:36.800 --> 1:10:40.800
<v Speaker 1>can observe an overall recovery. All right, Tyler Goodspeed of

1:10:40.800 --> 1:10:43.320
<v Speaker 1>the White House Council of Economic Advisors, thank you so

1:10:43.400 --> 1:10:45.040
<v Speaker 1>much for your time. You've been so generous with your time,

1:10:45.040 --> 1:10:46.559
<v Speaker 1>and I want to make sure I get you out

1:10:46.560 --> 1:10:47.880
<v Speaker 1>of here on time, So thank you, Tyler