1
00:00:00,520 --> 00:00:03,720
Speaker 1: Live from Our Nation's All Talk here in Washington, d C.

2
00:00:03,920 --> 00:00:07,720
Speaker 1: Turns to President elect Joe Biden's administration, historically, speaking the

3
00:00:07,760 --> 00:00:10,319
Speaker 1: markets that performed better when there is divided government. The

4
00:00:10,360 --> 00:00:14,000
Speaker 1: biggest pressure for physical stimulus is an up taking cases

5
00:00:14,080 --> 00:00:19,120
Speaker 1: Bloomberg sound on, the insiders, the influencers, the inside. Biden

6
00:00:19,160 --> 00:00:22,040
Speaker 1: has promised again and again that he will unite the

7
00:00:22,079 --> 00:00:25,520
Speaker 1: country's state government's control elections as in the Constitution. I

8
00:00:25,560 --> 00:00:29,520
Speaker 1: think that we can expect a smooth, thoughtful, methodical transition.

9
00:00:29,760 --> 00:00:34,320
Speaker 1: This is Bloomberg Sound On with Kevin Shirley on Bloomberg

10
00:00:35,560 --> 00:00:37,600
Speaker 1: and one oh five point seven f m h D

11
00:00:37,720 --> 00:00:42,640
Speaker 1: two week jobs number. But Speaker Pelosi see stimulus momentum.

12
00:00:42,720 --> 00:00:47,400
Speaker 1: We've got complete policy analysis. This again as President elect

13
00:00:47,479 --> 00:00:51,519
Speaker 1: Joe Biden laments the quote grimm end quote November jobs

14
00:00:51,800 --> 00:00:55,480
Speaker 1: data lots to get through. President Elect Joe Biden speaking

15
00:00:55,520 --> 00:00:59,760
Speaker 1: about the jobs report number and the unemployment rate coming

16
00:00:59,800 --> 00:01:04,120
Speaker 1: into the unemployment rate coming to six point seven in November,

17
00:01:04,560 --> 00:01:09,400
Speaker 1: this as only two thousand jobs were added. He called

18
00:01:09,440 --> 00:01:15,920
Speaker 1: it grim. It was grim. It shows an economy that's

19
00:01:15,920 --> 00:01:20,800
Speaker 1: stalling and remain in the midst of a We remained

20
00:01:20,800 --> 00:01:23,800
Speaker 1: the midst of one of the worst economic and job

21
00:01:23,840 --> 00:01:28,120
Speaker 1: crisis in modern history. Meanwhile, Larry Cudlow, speaking to my

22
00:01:28,160 --> 00:01:33,720
Speaker 1: colleague Jonathan Faraoh earlier today, also thought it was grim.

23
00:01:33,760 --> 00:01:38,280
Speaker 1: It may have come in a wee bid under expectations,

24
00:01:38,319 --> 00:01:41,240
Speaker 1: but I don't know what that means. Six point seven

25
00:01:41,319 --> 00:01:45,120
Speaker 1: percent unemployment rate is big news of the CBO and

26
00:01:45,160 --> 00:01:50,320
Speaker 1: others didn't expect single digits until early so we got

27
00:01:50,360 --> 00:01:53,720
Speaker 1: the single digits the last couple of months. Joe Biden says,

28
00:01:53,800 --> 00:01:57,120
Speaker 1: it means the need for more stimulus is even more urgent.

29
00:01:58,000 --> 00:02:00,840
Speaker 1: Of Congress and President Trump able to act. By the

30
00:02:00,920 --> 00:02:04,920
Speaker 1: end of December, twelve million Americans will lose their unemployment

31
00:02:04,920 --> 00:02:09,840
Speaker 1: benefits they rely on. Merry Christmas and Speaker of the

32
00:02:09,880 --> 00:02:12,560
Speaker 1: House Nancy Pelosi says that the talks on Capitol Hill

33
00:02:12,760 --> 00:02:14,880
Speaker 1: are moving in the right direction. We had to have

34
00:02:14,919 --> 00:02:18,440
Speaker 1: an omnibus, and we're hoping that that will accelerate the

35
00:02:18,520 --> 00:02:22,440
Speaker 1: discussions on the omnibus. We are going to keep government open,

36
00:02:23,240 --> 00:02:26,560
Speaker 1: you know we're not going to have a continuing resolution. Well,

37
00:02:26,600 --> 00:02:28,799
Speaker 1: take the time we need, and we must get it done,

38
00:02:28,800 --> 00:02:33,040
Speaker 1: and we must get it done by this before we

39
00:02:33,080 --> 00:02:36,640
Speaker 1: cannot leave without it. Joining us now is justin st Bloomberg,

40
00:02:36,639 --> 00:02:40,400
Speaker 1: White House reporter justin. It looks like now the economic data,

41
00:02:40,480 --> 00:02:43,200
Speaker 1: the COVID nineteen cases all putting pressure on Republicans and

42
00:02:43,240 --> 00:02:45,240
Speaker 1: Democrats have like to get to some type of deal.

43
00:02:45,600 --> 00:02:48,920
Speaker 1: Dare I say within the next week. Yeah, I think

44
00:02:49,000 --> 00:02:51,560
Speaker 1: that's certainly true. And even uh, we kind of saw

45
00:02:51,600 --> 00:02:54,639
Speaker 1: it from the market today, which did really well, despite

46
00:02:54,680 --> 00:02:58,360
Speaker 1: the fact that the job number was a big miss,

47
00:02:58,400 --> 00:03:03,160
Speaker 1: really disappointing across the board. The fact that the market

48
00:03:03,240 --> 00:03:05,760
Speaker 1: was doing well is an indication that that Wall Street

49
00:03:05,760 --> 00:03:10,880
Speaker 1: at least really thinks that uh an economic stimulus packages coming.

50
00:03:10,919 --> 00:03:13,600
Speaker 1: We heard some encouraging words of Democrats today, but we've

51
00:03:13,639 --> 00:03:17,920
Speaker 1: heard encouraging words throughout this process. And the big X factor,

52
00:03:17,960 --> 00:03:21,160
Speaker 1: the big open question is whether Mitch McConnell is going

53
00:03:21,200 --> 00:03:23,240
Speaker 1: to be willing to go forward with the package that's

54
00:03:23,280 --> 00:03:26,480
Speaker 1: big enough for Democrats and whether Republicans are going to

55
00:03:26,600 --> 00:03:29,280
Speaker 1: allow that sort of state aid that the Democrats have

56
00:03:29,360 --> 00:03:32,800
Speaker 1: said they must have as part of the deal. Uh.

57
00:03:33,240 --> 00:03:35,560
Speaker 1: There were encouraging science today. There seems to be some

58
00:03:35,640 --> 00:03:37,760
Speaker 1: sort of movement on it, but you know, there have

59
00:03:37,800 --> 00:03:40,000
Speaker 1: been stopped and starts for the last few months, and

60
00:03:40,120 --> 00:03:43,600
Speaker 1: obviously people have been suffering, and that has not created

61
00:03:43,640 --> 00:03:46,920
Speaker 1: the political pressure yet to create the solution. Democrats are

62
00:03:46,960 --> 00:03:48,960
Speaker 1: saying they're going to keep the House in until they

63
00:03:49,000 --> 00:03:51,840
Speaker 1: get some sort of stimulus deal. We always know that

64
00:03:51,880 --> 00:03:55,520
Speaker 1: the holidays created an incentive for wallmakers to get something done,

65
00:03:55,560 --> 00:03:57,520
Speaker 1: So Nowverby has got to kind of watch and wait

66
00:03:57,600 --> 00:03:59,720
Speaker 1: over the next couple of weeks. Let's do the timetable

67
00:03:59,800 --> 00:04:01,640
Speaker 1: just and Sak you do this so well for us.

68
00:04:01,680 --> 00:04:05,280
Speaker 1: Just take us through the TikTok in terms of when

69
00:04:05,400 --> 00:04:08,320
Speaker 1: specifically we might get text to a legislation and when

70
00:04:08,360 --> 00:04:12,040
Speaker 1: the first votes could be. Yeah, I mean, I think

71
00:04:12,320 --> 00:04:15,480
Speaker 1: the first thing that I'll be looking at is on Monday,

72
00:04:15,760 --> 00:04:19,760
Speaker 1: committees are supposed to report back the sort of outline

73
00:04:19,839 --> 00:04:24,920
Speaker 1: or contours of a broader legislative package. You know that

74
00:04:24,920 --> 00:04:29,039
Speaker 1: that puts us about two weeks before an absolute break

75
00:04:29,080 --> 00:04:32,440
Speaker 1: dead Christmas dead uh, you know, go home for Christmas

76
00:04:33,000 --> 00:04:36,240
Speaker 1: um deadline. They probably would like to get done before that,

77
00:04:37,560 --> 00:04:40,760
Speaker 1: maybe December eighteenth at the very latest, although at the

78
00:04:40,880 --> 00:04:43,280
Speaker 1: end of next week would be I think the most

79
00:04:43,279 --> 00:04:46,080
Speaker 1: ideal for longmakers. So my bed is that over the

80
00:04:46,080 --> 00:04:48,400
Speaker 1: next week we're going to have a better sense of

81
00:04:48,560 --> 00:04:50,920
Speaker 1: if the deal is coming and if they're able to

82
00:04:50,960 --> 00:04:56,440
Speaker 1: add the stimulus onto the omnibus. Knowing how Congress works. Uh,

83
00:04:56,600 --> 00:04:59,160
Speaker 1: you know, even though we might have broad broad contours

84
00:04:59,160 --> 00:05:01,320
Speaker 1: at the beginning the next week, it probably won't be

85
00:05:01,360 --> 00:05:03,640
Speaker 1: until the following week where we start seeing votes unpacked.

86
00:05:03,920 --> 00:05:06,720
Speaker 1: Justin Sink is with us. He is a Bloomberg Politics reporter,

87
00:05:07,200 --> 00:05:10,279
Speaker 1: Bloomberg Whitehouse reporter. Excuse me, Justin Uh, And look, I

88
00:05:10,320 --> 00:05:15,520
Speaker 1: think Congressman Tom cole Um, House member from Oklahoma, Republican

89
00:05:15,680 --> 00:05:19,039
Speaker 1: Tom cole I think he put it. He's saying what

90
00:05:19,120 --> 00:05:22,159
Speaker 1: everyone's thinking when he says, quote, I think today's job

91
00:05:22,279 --> 00:05:25,240
Speaker 1: numbers really help the relief effort because we may disagree

92
00:05:25,240 --> 00:05:28,880
Speaker 1: about the specifics, but there is no doubt the economy

93
00:05:28,920 --> 00:05:31,960
Speaker 1: needs help. End quote. I mean, do they are Are

94
00:05:32,040 --> 00:05:36,839
Speaker 1: you getting the notion from your sources even in the

95
00:05:36,839 --> 00:05:39,400
Speaker 1: White House? Is there on their way out the door? Literally,

96
00:05:39,720 --> 00:05:44,920
Speaker 1: Alissa ferra Um, are you noticing that they understand that

97
00:05:45,040 --> 00:05:47,440
Speaker 1: maybe the lame duck session there has to be a

98
00:05:47,520 --> 00:05:52,760
Speaker 1: nine billion dollar UH relief package or something before the

99
00:05:52,839 --> 00:05:55,800
Speaker 1: end of the year that people cannot wait until after

100
00:05:55,880 --> 00:06:00,479
Speaker 1: President elect Biden sworn him. Yeah, I mean, I think

101
00:06:00,560 --> 00:06:02,599
Speaker 1: that the White House has long said that they think

102
00:06:02,640 --> 00:06:06,080
Speaker 1: that there should do bill that President Trump has voiced,

103
00:06:06,120 --> 00:06:09,760
Speaker 1: at least in the abstract support for a number much

104
00:06:09,839 --> 00:06:14,680
Speaker 1: larger than that, and specifically um the sort of five

105
00:06:15,160 --> 00:06:19,680
Speaker 1: plus billion that it was pushed forward by Mr McConnell.

106
00:06:19,839 --> 00:06:23,760
Speaker 1: But I mean, I don't wanna, you know, I think

107
00:06:23,760 --> 00:06:26,280
Speaker 1: we have to divorce what Donald Trump would say from

108
00:06:26,279 --> 00:06:29,120
Speaker 1: what Donald Trump's aids like Mark Meadows, who is a

109
00:06:29,160 --> 00:06:33,479
Speaker 1: big person, you know in this back and forth and

110
00:06:33,560 --> 00:06:37,840
Speaker 1: a Freedom Caucus member and a fistfal conservative believe, and

111
00:06:38,440 --> 00:06:41,640
Speaker 1: the motivation for Donald Trump is also not there in

112
00:06:41,640 --> 00:06:43,479
Speaker 1: the same way that it was before election day. Before

113
00:06:43,520 --> 00:06:46,440
Speaker 1: election day, delivering a huge stimulus is something that he

114
00:06:46,440 --> 00:06:49,400
Speaker 1: could brag about on the campaign trail. Now that he's lost,

115
00:06:49,920 --> 00:06:52,360
Speaker 1: there's just not the same motivation from the White House,

116
00:06:52,360 --> 00:06:54,400
Speaker 1: and we see them just not engaged in the talks

117
00:06:54,400 --> 00:06:56,599
Speaker 1: in the same way. And so I don't want to

118
00:06:56,600 --> 00:06:58,200
Speaker 1: be too cynical about this. I think there are a

119
00:06:58,279 --> 00:07:01,520
Speaker 1: lot of Republicans who want to get something done, especially

120
00:07:01,600 --> 00:07:04,599
Speaker 1: Republicans who are going to face in stating some reelection

121
00:07:04,640 --> 00:07:07,080
Speaker 1: down the road. But I'm not sure that the Republicans

122
00:07:07,080 --> 00:07:11,120
Speaker 1: in the White House, or Mitch McConnell, who is a

123
00:07:11,200 --> 00:07:15,000
Speaker 1: master views and leverage and knows that, Um, if Joe

124
00:07:15,040 --> 00:07:17,280
Speaker 1: Biden faces an econ comic crisis when he comes in,

125
00:07:17,320 --> 00:07:19,320
Speaker 1: that's gonna be a huge thing for him to wrangle with.

126
00:07:19,880 --> 00:07:23,840
Speaker 1: It's quite ready to get up to that nine. Um

127
00:07:24,080 --> 00:07:26,480
Speaker 1: lovely yet And that's going to be the real development

128
00:07:26,480 --> 00:07:28,720
Speaker 1: over the next couple of weeks is how much this

129
00:07:28,840 --> 00:07:32,120
Speaker 1: job report impacts them and how much Republicans are willing

130
00:07:32,160 --> 00:07:34,280
Speaker 1: to to move up to a range where Democrats are

131
00:07:34,280 --> 00:07:37,640
Speaker 1: gonna be able to swallow a deal Justice sink. Pivoting

132
00:07:37,640 --> 00:07:42,080
Speaker 1: now to Georgia, President Trump and Georgia campaigning and Georgia.

133
00:07:42,600 --> 00:07:45,120
Speaker 1: What are you hearing from your sources? Yeah, so Father

134
00:07:45,240 --> 00:07:49,080
Speaker 1: Trump heads there tomorrow. Vice President Pence is there today.

135
00:07:49,640 --> 00:07:52,680
Speaker 1: You know, this is obviously control of the Senate swings

136
00:07:52,680 --> 00:07:55,120
Speaker 1: on Georgia. It's a bit of a home field advantage

137
00:07:55,160 --> 00:07:58,320
Speaker 1: for Republicans who have long sort of dominated politics in

138
00:07:58,360 --> 00:08:01,040
Speaker 1: the state, with the exception of course, of in November

139
00:08:01,080 --> 00:08:03,680
Speaker 1: where Donald Trump wasn't able to win the state without

140
00:08:03,760 --> 00:08:06,000
Speaker 1: him on the top of the ticket, with him having

141
00:08:06,080 --> 00:08:09,000
Speaker 1: had kind of a step back role in the in

142
00:08:09,040 --> 00:08:12,320
Speaker 1: the cycle, the two income a Republican senators are definitely

143
00:08:12,320 --> 00:08:15,080
Speaker 1: the favorites. But the real question, the X factor, right,

144
00:08:15,240 --> 00:08:18,240
Speaker 1: is that President Trump is questioned the legitimacy of the

145
00:08:18,560 --> 00:08:23,640
Speaker 1: Georgia elections. He's you know, accused. He has made his accusations, uh,

146
00:08:23,920 --> 00:08:27,000
Speaker 1: sort of unfounded or are not rooted in in facts

147
00:08:27,000 --> 00:08:30,680
Speaker 1: that we're aware of, that that there's a widespread conspiracy.

148
00:08:30,800 --> 00:08:33,439
Speaker 1: And if you're a loyal Trump voter rather than a

149
00:08:33,480 --> 00:08:36,480
Speaker 1: loyal Republican voter, you might look at this and say, well,

150
00:08:36,520 --> 00:08:38,959
Speaker 1: why would I go out and vote in an election

151
00:08:39,240 --> 00:08:42,880
Speaker 1: again that's rigged. And so Republicans in the state are

152
00:08:43,440 --> 00:08:46,880
Speaker 1: trying to get the President to sort of moderate as

153
00:08:47,080 --> 00:08:49,920
Speaker 1: his statements, uh, and and figure out a way that

154
00:08:49,960 --> 00:08:53,840
Speaker 1: he can say, we need to protect the Republican majority.

155
00:08:54,200 --> 00:08:57,280
Speaker 1: But you know, the President has been clashing with the

156
00:08:57,280 --> 00:09:01,880
Speaker 1: governor there. He has been criticizing state official to who

157
00:09:01,960 --> 00:09:05,240
Speaker 1: administer the elections, and so it's kind of a bit

158
00:09:05,280 --> 00:09:07,600
Speaker 1: of a mess. That's the president's waiting into when he

159
00:09:07,640 --> 00:09:09,320
Speaker 1: goes down there tomorrow. Does he want to run in

160
00:09:10,520 --> 00:09:12,240
Speaker 1: is that? Because that's the impetus for him to go

161
00:09:12,320 --> 00:09:15,160
Speaker 1: down there is to is to win Georgia and then say,

162
00:09:15,200 --> 00:09:17,920
Speaker 1: see that I delivered a Republican majority and gains in

163
00:09:17,960 --> 00:09:22,240
Speaker 1: the House, and even though I lost the presidency. Yeah,

164
00:09:22,280 --> 00:09:24,360
Speaker 1: I think even if he in his heart of hearts,

165
00:09:24,400 --> 00:09:26,800
Speaker 1: doesn't want to run in twenties twenty four, he certainly

166
00:09:26,800 --> 00:09:30,559
Speaker 1: wants to remain extremely relevant the Republican Party. Whatever his

167
00:09:30,720 --> 00:09:33,520
Speaker 1: next step was gonna be. I can't imagine Donald Trump

168
00:09:33,600 --> 00:09:36,160
Speaker 1: is going to quietly retire to tomorrow lago and we

169
00:09:36,240 --> 00:09:38,800
Speaker 1: don't hear from him again. And so this is a

170
00:09:38,840 --> 00:09:41,640
Speaker 1: way to sort of burnish his legacy is especially coming

171
00:09:41,679 --> 00:09:44,000
Speaker 1: off the presidential loss, and say hey, I am still

172
00:09:44,040 --> 00:09:46,160
Speaker 1: a powerful for us in the Republican Party. Should the

173
00:09:46,200 --> 00:09:50,760
Speaker 1: Eagles get rid of bench trade, Carson Wentz, I don't

174
00:09:50,800 --> 00:09:53,760
Speaker 1: think we can with the contract. So it's as frustrating

175
00:09:53,800 --> 00:09:55,520
Speaker 1: as this year is. Then I think there's a lot

176
00:09:55,520 --> 00:09:59,280
Speaker 1: of problems with vehicles and uh, quickly, quickly, quickly jail

177
00:09:59,320 --> 00:10:03,600
Speaker 1: it hurts her car person, Wentz, who should start right now?

178
00:10:04,160 --> 00:10:07,839
Speaker 1: That's that's okay, good, yes, Justin Sink. That's why he's

179
00:10:07,840 --> 00:10:09,800
Speaker 1: the best. Justin Sink. I'm Kevin's really much more coming.

180
00:10:09,800 --> 00:10:11,520
Speaker 1: I'm next, You're listening to Bloomberg nine and I want

181
00:10:29,760 --> 00:10:33,240
Speaker 1: you're listening to Bloomberg Sound On with Kevin Surley on

182
00:10:33,320 --> 00:10:36,800
Speaker 1: Bloomberg and one oh five point seven F M h

183
00:10:36,960 --> 00:10:41,920
Speaker 1: D two. I'm Kevin SURRELI, Chief Washington correspondent for Bloomberg

184
00:10:41,960 --> 00:10:47,520
Speaker 1: Television and for Bloomberg Radio. At disappointing jobs report, disappointing

185
00:10:47,520 --> 00:10:51,920
Speaker 1: six point seven percent unemployment, Only about two jobs added

186
00:10:51,960 --> 00:10:55,720
Speaker 1: to the U s economy disaccording to the government officials

187
00:10:55,720 --> 00:10:58,880
Speaker 1: that released their annual or their monthly jobs data report

188
00:10:59,360 --> 00:11:02,440
Speaker 1: earlier today. Joe Biden's talking about at the President elect

189
00:11:02,520 --> 00:11:06,760
Speaker 1: calling it grim, Speaker Pelosi uh saying that this is

190
00:11:06,800 --> 00:11:10,120
Speaker 1: only gonna urge some more need for there to be

191
00:11:10,240 --> 00:11:13,800
Speaker 1: some fiscal stimulus. Then I look into my Bloomberg terminal.

192
00:11:14,160 --> 00:11:18,360
Speaker 1: Claire Ballantine's reporting with Lou Wang on the Bloomberg Terminal

193
00:11:19,120 --> 00:11:23,240
Speaker 1: and stock rally reaches new highs. U S stocks climbed

194
00:11:23,480 --> 00:11:26,439
Speaker 1: to all time highs, and treasury yields jumped after a

195
00:11:26,960 --> 00:11:32,480
Speaker 1: report showing US employment gained slowed in November, bolstered expectations

196
00:11:32,520 --> 00:11:36,360
Speaker 1: for more federal stimulus. All major indexes for US equities,

197
00:11:36,400 --> 00:11:39,520
Speaker 1: the SMP five hundred, the DAL Jones Industrial Average, the

198
00:11:39,600 --> 00:11:44,400
Speaker 1: Russell two thousand, and the Nasdaq Composite Index closed a

199
00:11:44,559 --> 00:11:48,079
Speaker 1: record highs. Such synchronized highs were last seen in January

200
00:11:48,160 --> 00:11:51,160
Speaker 1: two thousand and eighteen. The dollar posted its biggest weekly

201
00:11:51,200 --> 00:11:53,600
Speaker 1: decline in five while the yield on the ten year

202
00:11:53,600 --> 00:11:56,840
Speaker 1: Treasury note reached the highest in nine months. Glares on

203
00:11:56,840 --> 00:11:58,959
Speaker 1: the line, Claire, what happened in the markets today? Why

204
00:11:59,000 --> 00:12:01,480
Speaker 1: are they so optimates stick when the news just seems

205
00:12:01,480 --> 00:12:06,400
Speaker 1: so grim. It's pretty remarkable. The story of the market

206
00:12:06,440 --> 00:12:10,040
Speaker 1: this year has just been its resiliency, and it's incredibly

207
00:12:10,120 --> 00:12:13,600
Speaker 1: impressive that the market is just able to look through

208
00:12:13,840 --> 00:12:17,800
Speaker 1: such negative news. Uh, the story that we're hearing is

209
00:12:18,320 --> 00:12:22,880
Speaker 1: people are looking forward towards the end of the pandemic um. Obviously,

210
00:12:23,600 --> 00:12:26,800
Speaker 1: we have so much positive vaccine news, and people are

211
00:12:26,800 --> 00:12:30,120
Speaker 1: really optimistic that things are going to be a lot

212
00:12:30,160 --> 00:12:32,960
Speaker 1: different six months from now, and the market is sort

213
00:12:32,960 --> 00:12:37,720
Speaker 1: of trading on that. Even today, when we had unemployment

214
00:12:38,080 --> 00:12:41,599
Speaker 1: or employment gains slowing down, that just sort of to

215
00:12:41,720 --> 00:12:44,920
Speaker 1: market watchers and bolstered expectations that we are going to

216
00:12:44,960 --> 00:12:48,720
Speaker 1: get more help from the federal government in the stimulus package.

217
00:12:49,240 --> 00:12:52,680
Speaker 1: So it's the market is just focusing on the positive

218
00:12:52,679 --> 00:12:56,800
Speaker 1: skies ahead. Claire. You know you mentioned the vaccination front

219
00:12:56,840 --> 00:12:58,680
Speaker 1: and the vaccine news. Yesterday we saw some of the

220
00:12:58,679 --> 00:13:01,920
Speaker 1: negative impact that some of the supply chain news reports

221
00:13:02,600 --> 00:13:05,920
Speaker 1: regarding the vaccine rollout we're having on the markets. What

222
00:13:06,040 --> 00:13:10,080
Speaker 1: turns it around today? Yeah, I think that was sort

223
00:13:10,120 --> 00:13:12,880
Speaker 1: of a blip M And I think it shows is

224
00:13:13,000 --> 00:13:18,080
Speaker 1: just how important the vaccine news is to investors. Um.

225
00:13:18,120 --> 00:13:21,120
Speaker 1: I think today, you know, people traders came in with

226
00:13:21,160 --> 00:13:23,400
Speaker 1: a bit of a clearer head, and there are so

227
00:13:23,440 --> 00:13:28,160
Speaker 1: many positive forces right now that that people see from markets,

228
00:13:28,200 --> 00:13:31,040
Speaker 1: whether it's the vaccine news, it's the support from the

229
00:13:31,040 --> 00:13:36,400
Speaker 1: fettle reserve, it's expectations of physical stimulus and all that,

230
00:13:36,520 --> 00:13:40,480
Speaker 1: you know, sort of is pushing the market higher. December

231
00:13:40,559 --> 00:13:44,000
Speaker 1: usually is typically a stronger month or equity. So I

232
00:13:44,000 --> 00:13:46,480
Speaker 1: think all those forces are combining for sort of this

233
00:13:47,000 --> 00:13:50,200
Speaker 1: you know year and rally continuing when you look more

234
00:13:51,040 --> 00:13:53,040
Speaker 1: in my neck of the woods, which is Washington, d C.

235
00:13:53,240 --> 00:13:56,840
Speaker 1: And you've got President elect Joe Biden announcing the team

236
00:13:57,000 --> 00:14:00,280
Speaker 1: that he's assembling in the administration, the Janet yelling, the

237
00:14:00,320 --> 00:14:06,760
Speaker 1: Tony the Tony B. Lincoln's the WALLYATA amos of the world,

238
00:14:06,840 --> 00:14:12,520
Speaker 1: all joining forces. So put together Biden's Washington and UM

239
00:14:13,280 --> 00:14:17,560
Speaker 1: Congress sort of recalibrating to whether it's h Kelly and

240
00:14:17,640 --> 00:14:21,920
Speaker 1: Conway making some public comments today acknowledging President elect Biden

241
00:14:22,160 --> 00:14:25,040
Speaker 1: going to become president or Speaker Pelosi looking at the

242
00:14:25,040 --> 00:14:29,760
Speaker 1: new reality of a shrunken Democratic majority in the House.

243
00:14:30,040 --> 00:14:34,600
Speaker 1: How are the markets interpreting what Washington is going to

244
00:14:34,680 --> 00:14:39,560
Speaker 1: look like on January one. Yeah, that's been a big

245
00:14:39,600 --> 00:14:43,120
Speaker 1: theme this year for market watchers, and there's been I

246
00:14:43,160 --> 00:14:45,560
Speaker 1: think the sense of this relief that we got through

247
00:14:45,560 --> 00:14:49,440
Speaker 1: the election that was a big woman uncertainty. I can relate.

248
00:14:49,640 --> 00:14:51,840
Speaker 1: I can relate to the relief that the elections over

249
00:14:51,880 --> 00:14:55,720
Speaker 1: go ahead. Clay, I definitely can do. I think everyone

250
00:14:55,800 --> 00:14:59,520
Speaker 1: sort of bringing aside of relief and now investors sort

251
00:14:59,520 --> 00:15:03,080
Speaker 1: of no what we're going to get. They know that

252
00:15:03,080 --> 00:15:06,080
Speaker 1: we're going to have a Biden presidency. There's more certainty,

253
00:15:06,160 --> 00:15:10,000
Speaker 1: and the market just loves that certainty, especially we saw

254
00:15:10,160 --> 00:15:13,960
Speaker 1: with Yellen and the news about her role in the administration.

255
00:15:14,080 --> 00:15:17,280
Speaker 1: You know, they know her, they know what to expect um.

256
00:15:17,320 --> 00:15:19,840
Speaker 1: So I think overall the market is looking at what

257
00:15:19,960 --> 00:15:24,160
Speaker 1: Washington is doing at least um most recently, and is

258
00:15:24,400 --> 00:15:28,880
Speaker 1: sort of cheering that sense of stability. Claire Valentine's on

259
00:15:28,920 --> 00:15:32,480
Speaker 1: the line. She is a Bloomberg Cross Asset reporter for US.

260
00:15:32,520 --> 00:15:34,800
Speaker 1: She writes all about what happens in the market each day.

261
00:15:34,960 --> 00:15:39,440
Speaker 1: She also went to Duke. Are you a Duke basketball fan? Oh? Yes,

262
00:15:39,560 --> 00:15:43,760
Speaker 1: I'm a huge Duke basketball fan. No oh no oh no.

263
00:15:43,880 --> 00:15:45,720
Speaker 1: And I still have a couple of minutes left in

264
00:15:45,720 --> 00:15:48,520
Speaker 1: this block. All right, let's put it back to the

265
00:15:48,640 --> 00:15:51,160
Speaker 1: I'm not. I'm not, you know, I I am I

266
00:15:51,160 --> 00:15:53,240
Speaker 1: allowed to have an opinion on this. I'm not. I

267
00:15:54,480 --> 00:15:57,800
Speaker 1: am definitely not. That's that's that's all I'm gonna say. Okay,

268
00:15:57,800 --> 00:15:59,920
Speaker 1: but back on the economic stimulus, just so I can

269
00:16:00,040 --> 00:16:02,440
Speaker 1: save this segment from totally going off the rails. I'm

270
00:16:02,440 --> 00:16:04,400
Speaker 1: not gonna pull a Bobby Knight and flip over the chair.

271
00:16:04,600 --> 00:16:08,760
Speaker 1: But listen to what uh Jonathan Faroh, who spoke our

272
00:16:08,760 --> 00:16:11,640
Speaker 1: colleague Jonathan Faraoh, who spoke with Larry Cudlow earlier today

273
00:16:12,360 --> 00:16:16,320
Speaker 1: about this this need for fiscal stimulus and really this

274
00:16:16,320 --> 00:16:19,280
Speaker 1: this uh, this need for fiscal stimulus that the market

275
00:16:19,280 --> 00:16:22,120
Speaker 1: is interpreting that Main Street is calling forward that so many,

276
00:16:22,200 --> 00:16:25,800
Speaker 1: even in the Republican Party. I'm specifically thinking of Senator

277
00:16:25,880 --> 00:16:29,280
Speaker 1: Richard Shelby of Alabama, who has come out and signaled

278
00:16:29,320 --> 00:16:33,440
Speaker 1: he's got some support for this bipartisan deal that's making

279
00:16:33,480 --> 00:16:35,960
Speaker 1: its way through the halls of Congress. Take a listen

280
00:16:36,040 --> 00:16:40,640
Speaker 1: to Larry Cudlow's response to Jonathan Faraoh earlier today. The

281
00:16:40,720 --> 00:16:45,240
Speaker 1: President is in favor of a new assistance package. Okay,

282
00:16:45,280 --> 00:16:48,720
Speaker 1: he is in favor of that UM, but the details,

283
00:16:49,040 --> 00:16:53,200
Speaker 1: the targeting that I discussed earlier is absolutely crucial. And

284
00:16:53,240 --> 00:16:56,600
Speaker 1: as you know, Jonathan, the President has always opposed a

285
00:16:56,840 --> 00:17:01,960
Speaker 1: large scale appropriation for state and local governments that he

286
00:17:02,440 --> 00:17:07,879
Speaker 1: President Trump believes have been mismanaged. So I mean you

287
00:17:08,000 --> 00:17:10,960
Speaker 1: hear that framing coming from Larry Cudlow, even in the

288
00:17:11,000 --> 00:17:14,320
Speaker 1: final weeks of the administration. And there is this more

289
00:17:14,440 --> 00:17:17,919
Speaker 1: nuanced debate that emerged this week with Treasury Secretary Stephen

290
00:17:17,960 --> 00:17:22,479
Speaker 1: Venusian testifying on Capitol Hill Claire Vollentine Bloomberg Cross Asset reporter,

291
00:17:22,960 --> 00:17:25,920
Speaker 1: where they're essentially saying they got to manage the money better.

292
00:17:26,200 --> 00:17:28,880
Speaker 1: I when I talked to AIDS, to Senator pat Too,

293
00:17:28,960 --> 00:17:33,400
Speaker 1: me and whatnot, they agree. So there is this nuanced

294
00:17:33,760 --> 00:17:37,359
Speaker 1: positioning that has emerged this week even more to the

295
00:17:37,400 --> 00:17:41,679
Speaker 1: forefront of the conversation. Claire, Yeah, there definitely is, and

296
00:17:41,760 --> 00:17:45,280
Speaker 1: it's um. It's something that investors are very closely tuned

297
00:17:45,320 --> 00:17:47,760
Speaker 1: to people who are watching the market. I mean, you

298
00:17:47,800 --> 00:17:50,320
Speaker 1: knows as well as I do that what Washington does

299
00:17:50,440 --> 00:17:55,240
Speaker 1: really impact investor's sentiment. And to the people that I've

300
00:17:55,280 --> 00:17:58,680
Speaker 1: talked with right now, their expectation is that there's going

301
00:17:58,720 --> 00:18:02,439
Speaker 1: to be some kind of smulus package pass and they

302
00:18:02,440 --> 00:18:05,439
Speaker 1: don't know when, they don't know how much, but the

303
00:18:05,520 --> 00:18:08,000
Speaker 1: consensus is that it's it's going to happen, and so

304
00:18:08,040 --> 00:18:11,760
Speaker 1: I think, um, you know, the market is sort of

305
00:18:11,800 --> 00:18:15,320
Speaker 1: looking through some of this near term discussion and focusing

306
00:18:15,359 --> 00:18:17,439
Speaker 1: on the fact that they really do expect something to

307
00:18:17,480 --> 00:18:20,800
Speaker 1: get passed. Um, but it is, it's very closely watched.

308
00:18:21,640 --> 00:18:23,440
Speaker 1: What else is on your radar for next week? Because

309
00:18:23,440 --> 00:18:25,159
Speaker 1: we spend this forward to next week, Claire, what are

310
00:18:25,160 --> 00:18:28,400
Speaker 1: you watching for next week in the markets? I'm really

311
00:18:28,440 --> 00:18:31,400
Speaker 1: interested right now in the rotation that we've been seeing

312
00:18:31,400 --> 00:18:34,639
Speaker 1: in markets, and that's from you know, the big tech

313
00:18:35,080 --> 00:18:37,320
Speaker 1: that sort of led the way all this year into

314
00:18:37,400 --> 00:18:40,680
Speaker 1: some of these more cyclical, more value and more small

315
00:18:40,720 --> 00:18:43,520
Speaker 1: cap names. Um, I'm really watching to see if that's

316
00:18:43,560 --> 00:18:47,000
Speaker 1: going to continue. Um, November was such a huge month

317
00:18:47,520 --> 00:18:49,959
Speaker 1: for that kind of trend, and you know the question

318
00:18:50,080 --> 00:18:53,359
Speaker 1: is how much further it goes and if it continues,

319
00:18:53,440 --> 00:18:56,199
Speaker 1: And so I'll be watching that very closely. Is going

320
00:18:56,240 --> 00:19:01,439
Speaker 1: to be Illinois next week? Man? I hope? So you

321
00:19:01,480 --> 00:19:04,840
Speaker 1: don't know, okay, because now the IB the Bloomberg ib

322
00:19:05,119 --> 00:19:08,480
Speaker 1: sound on family Chat is now attacking where my alma

323
00:19:08,520 --> 00:19:10,960
Speaker 1: mater is, which is Penn State, and they're I mean,

324
00:19:10,960 --> 00:19:12,680
Speaker 1: we don't even have about I mean, I don't want

325
00:19:12,680 --> 00:19:15,160
Speaker 1: to get in trouble with the never mind. But anyway,

326
00:19:15,440 --> 00:19:17,960
Speaker 1: Claire ballot Side, thank you so much for hanging out

327
00:19:17,960 --> 00:19:20,400
Speaker 1: with us on a Friday and breaking down everything that

328
00:19:20,440 --> 00:19:23,280
Speaker 1: went on in the markets. Uh really been all over

329
00:19:23,320 --> 00:19:25,639
Speaker 1: these stories for us, especially on the vaccination front and

330
00:19:25,680 --> 00:19:28,119
Speaker 1: everything that's been going on. Download the Bloomberg Sound on

331
00:19:28,160 --> 00:19:31,680
Speaker 1: podcast at Bloomberg dot com or by downloading the Bloomberg

332
00:19:31,680 --> 00:19:33,679
Speaker 1: Business at My name is Kevin SURREALI I did go

333
00:19:33,720 --> 00:19:35,560
Speaker 1: to Penn State. I am a problem with me lyon

334
00:19:35,920 --> 00:19:38,160
Speaker 1: you're listen. I'm the chief Washington correspondent for Bloomberg TV.

335
00:19:38,160 --> 00:20:02,040
Speaker 1: And radio too, And you're listening to Bloomberg live from

336
00:20:02,080 --> 00:20:05,080
Speaker 1: our Nation's All Talk here in Washington, d C. Turns

337
00:20:05,119 --> 00:20:08,919
Speaker 1: to President Elect Joe Biden's administration. Historically speaking, the markets

338
00:20:08,920 --> 00:20:11,680
Speaker 1: that perform better when there is divided government. The biggest

339
00:20:11,840 --> 00:20:15,560
Speaker 1: pressure for physical stimulus is an off taking cases. Bloomberg

340
00:20:15,760 --> 00:20:20,159
Speaker 1: Sound On, the insiders, the influencers, the inside. Biden has

341
00:20:20,240 --> 00:20:23,440
Speaker 1: Thomas again and again it he will unite the country's

342
00:20:23,480 --> 00:20:26,640
Speaker 1: state government's control elections as in the Constitution. I think

343
00:20:26,640 --> 00:20:30,800
Speaker 1: that we can expect a smooth, thoughtful, methodical transition. This

344
00:20:31,200 --> 00:20:36,480
Speaker 1: is Bloomberg Sound On with Kevin Shirley on Bloomberg and

345
00:20:36,560 --> 00:20:38,960
Speaker 1: one oh five point seven f m h D two

346
00:20:39,320 --> 00:20:42,560
Speaker 1: jobs say, disappointing job's day, six point seven percent. President

347
00:20:42,600 --> 00:20:47,320
Speaker 1: Elect Joe Biden calls it quote unquote grimm but will

348
00:20:47,359 --> 00:20:52,080
Speaker 1: it spurn Speaker Pelosi and Leader McConnell into action on

349
00:20:52,119 --> 00:20:56,600
Speaker 1: the fiscal stimulus front. We've got complete reaction and analysis

350
00:20:56,640 --> 00:21:00,720
Speaker 1: applications for US state unemployment benefits, all by the most

351
00:21:00,760 --> 00:21:03,960
Speaker 1: and almost two months, offering some hope that the gradual

352
00:21:04,080 --> 00:21:07,719
Speaker 1: recovery in the job market will continue despite a spike

353
00:21:07,840 --> 00:21:12,280
Speaker 1: in COVID nineteen infections and renewed business restrictions. The job's

354
00:21:12,320 --> 00:21:18,720
Speaker 1: number jobs number uh six uh. President elect Joe Biden

355
00:21:18,760 --> 00:21:24,320
Speaker 1: called it grim. It was grim. It shows an economy

356
00:21:24,400 --> 00:21:29,159
Speaker 1: that's scaling and remain in the midst of a We

357
00:21:29,240 --> 00:21:32,119
Speaker 1: remained the midst of one of the worst economic and

358
00:21:32,280 --> 00:21:36,879
Speaker 1: job crisis in modern history. My colleague Jonathan Pharaoh's spoke

359
00:21:37,000 --> 00:21:41,000
Speaker 1: with Larry Cudlow of the White House earlier today, who

360
00:21:41,000 --> 00:21:45,159
Speaker 1: painted a different picture. It may have come in a

361
00:21:45,280 --> 00:21:50,000
Speaker 1: wee bid under expectations, but I don't know what that means.

362
00:21:50,040 --> 00:21:54,000
Speaker 1: Six point seven unemployment rate is big news of the

363
00:21:54,080 --> 00:21:59,360
Speaker 1: CBO and others didn't expect single digits until early so

364
00:21:59,440 --> 00:22:03,159
Speaker 1: we got a single day just the last couple of months. Meanwhile,

365
00:22:03,560 --> 00:22:06,720
Speaker 1: President electro Biden also saying that this should put pressure

366
00:22:06,840 --> 00:22:11,479
Speaker 1: on Washington, d C. To pass fiscal stimulus. Congress and

367
00:22:11,600 --> 00:22:14,200
Speaker 1: President Trump failed to act. By the end of December,

368
00:22:15,000 --> 00:22:18,480
Speaker 1: twelve million Americans will lose their unemployment benefits they rely on.

369
00:22:19,400 --> 00:22:23,840
Speaker 1: Merry Christmas. Speaker Pelosi says that talks are moving in

370
00:22:23,840 --> 00:22:27,800
Speaker 1: the right direction. We have to have an omnibus and

371
00:22:27,840 --> 00:22:31,640
Speaker 1: we're hoping that that will accelerate the discussions on the omnibus.

372
00:22:31,800 --> 00:22:35,080
Speaker 1: We are going to keep government open. You know, we're

373
00:22:35,119 --> 00:22:38,240
Speaker 1: not going to have a continuing resolution. We'll take the

374
00:22:38,320 --> 00:22:40,199
Speaker 1: time we need, and we must get it done, and

375
00:22:40,240 --> 00:22:44,359
Speaker 1: we must get it done by this before relieves. We

376
00:22:44,400 --> 00:22:47,480
Speaker 1: cannot leave without it. Despite what members of the White

377
00:22:47,480 --> 00:22:51,199
Speaker 1: House are saying publicly regarding the jobs numbers, Republicans in

378
00:22:51,280 --> 00:22:54,800
Speaker 1: elected office on Capitol Hill are painting a different picture.

379
00:22:54,880 --> 00:22:57,560
Speaker 1: I was struck by the comments of Republican Tom Cole,

380
00:22:57,840 --> 00:23:01,320
Speaker 1: a House member from Oklahoma, who said, quote, I think

381
00:23:01,359 --> 00:23:04,520
Speaker 1: today's jobs numbers really helped the relief effort. We may

382
00:23:04,560 --> 00:23:08,080
Speaker 1: disagree about the specifics, but there is no doubt the

383
00:23:08,119 --> 00:23:11,600
Speaker 1: economy needs help. Frank Massano as a partner of brace

384
00:23:11,640 --> 00:23:14,720
Speaker 1: Well's Policy Resolution Group. He is the former press secretary

385
00:23:14,760 --> 00:23:19,000
Speaker 1: to several Republican lawmakers on Capitol Hill, including Indiana Senator

386
00:23:19,080 --> 00:23:22,760
Speaker 1: Richard Lugar and former Alaska Senator Mark Begets is a

387
00:23:22,840 --> 00:23:26,760
Speaker 1: strategic consulting advisor at brown Stein, Hyatt, Farber and Shrek. Frank,

388
00:23:26,800 --> 00:23:31,400
Speaker 1: I'll start with you, when you talk to your Republican friends,

389
00:23:31,760 --> 00:23:34,480
Speaker 1: do they agree with Larry Cudlow or do they agree

390
00:23:34,480 --> 00:23:38,399
Speaker 1: with Sam Cole? That more relief is needed. Well, for

391
00:23:38,440 --> 00:23:40,440
Speaker 1: the most part, I think it's pretty clear that more

392
00:23:40,480 --> 00:23:43,520
Speaker 1: relief is needed, and I think most Republicans, especially those

393
00:23:44,160 --> 00:23:49,760
Speaker 1: who represent people around the country, know that that's the case. UM.

394
00:23:50,000 --> 00:23:51,960
Speaker 1: I think what we're going to see here, Kevi, is

395
00:23:52,760 --> 00:23:57,440
Speaker 1: UH Congress actually coming to a conclusion on not only

396
00:23:57,520 --> 00:24:00,760
Speaker 1: keeping the government open, but at the same time figuring

397
00:24:00,800 --> 00:24:04,720
Speaker 1: out ways that they can help people. UM in the

398
00:24:04,880 --> 00:24:08,879
Speaker 1: range of dollars that were part of this bipartisan discussion

399
00:24:08,920 --> 00:24:12,040
Speaker 1: the other day. That's enough to get this through the

400
00:24:12,440 --> 00:24:16,240
Speaker 1: winter months here and into into the new UH the

401
00:24:16,320 --> 00:24:20,440
Speaker 1: new administration. And I think that's when the new Congress

402
00:24:20,440 --> 00:24:23,240
Speaker 1: and the new administration will start working on next steps

403
00:24:23,240 --> 00:24:26,679
Speaker 1: and whatever that will entail. Senator Beggat, I mean, Speaker

404
00:24:26,720 --> 00:24:30,640
Speaker 1: Pelosi is talking about an omnimbus, a k A vehicle

405
00:24:30,800 --> 00:24:34,440
Speaker 1: to get some type of fiscal stimulus done. I mean,

406
00:24:34,480 --> 00:24:36,520
Speaker 1: just talk us through the process. When do you think

407
00:24:36,560 --> 00:24:41,200
Speaker 1: we could actually see there being fiscal stimulus? Are we're

408
00:24:41,200 --> 00:24:43,800
Speaker 1: talking a week? We're talking two weeks December eleven for

409
00:24:43,880 --> 00:24:47,840
Speaker 1: the CR December elevens next week, go ahead, Senator, So

410
00:24:48,160 --> 00:24:51,640
Speaker 1: you can pretty much guarantee before Christmas because they don't

411
00:24:51,680 --> 00:24:54,480
Speaker 1: want to be there on Christmas Day. I've been there

412
00:24:54,480 --> 00:24:57,120
Speaker 1: on Christmas Eve and no one wants that you get

413
00:24:57,119 --> 00:25:01,840
Speaker 1: on because this is so incredibly fascinating, and I've I've

414
00:25:01,920 --> 00:25:05,480
Speaker 1: said this multiple times on Bloomberg Television, Bloomberg Surveillance, but

415
00:25:05,520 --> 00:25:10,720
Speaker 1: also on this program. Senator walk us through the psychology

416
00:25:10,840 --> 00:25:13,800
Speaker 1: of this because and now I and I and do it.

417
00:25:14,520 --> 00:25:16,960
Speaker 1: I know it. It is with humor, but it's actually

418
00:25:17,119 --> 00:25:20,600
Speaker 1: very real about how play It's real. Plane tickets are

419
00:25:20,640 --> 00:25:23,800
Speaker 1: really what drive people to get to compromise. Explain this

420
00:25:23,880 --> 00:25:26,800
Speaker 1: to me, Well, you know it's actually the joke was

421
00:25:26,840 --> 00:25:31,280
Speaker 1: always even get aviation fuel smell into the ventilation system

422
00:25:31,560 --> 00:25:35,600
Speaker 1: of the capital, people would be leaving there in droves

423
00:25:35,720 --> 00:25:39,159
Speaker 1: because that the sign the plane is leaving. Um, you

424
00:25:39,200 --> 00:25:43,119
Speaker 1: know it is. It is an amazing thing around this season.

425
00:25:43,119 --> 00:25:45,840
Speaker 1: You know, we're talking about the Dominus Bill. It's gonna pass,

426
00:25:45,960 --> 00:25:49,120
Speaker 1: just like the National Defense Authorization Bill. Everyone goes, oh,

427
00:25:49,200 --> 00:25:52,680
Speaker 1: is that gonna pass? It's gonna pass. And more importantly,

428
00:25:53,160 --> 00:25:54,960
Speaker 1: if you would have asked, and I think you did

429
00:25:55,040 --> 00:25:56,520
Speaker 1: last time we were on, do you think a Stimus

430
00:25:56,520 --> 00:25:57,840
Speaker 1: bill is gonna happen before the end of the year.

431
00:25:57,840 --> 00:26:01,159
Speaker 1: We were very pessimistic about it. Today, you know what

432
00:26:01,320 --> 00:26:03,760
Speaker 1: happened was what I predicted last week kind of call

433
00:26:03,880 --> 00:26:05,600
Speaker 1: I was on. I said, people are gonna go back

434
00:26:05,640 --> 00:26:08,439
Speaker 1: for Thanksgiving, They're going to get their head kicked in

435
00:26:08,560 --> 00:26:10,879
Speaker 1: by constituents, and then they're gonna come back and go,

436
00:26:10,920 --> 00:26:13,120
Speaker 1: oh my gosh, I think we should do a stimuless bill.

437
00:26:13,560 --> 00:26:17,720
Speaker 1: And suddenly you see this motivation that's pretty high, and

438
00:26:17,800 --> 00:26:22,639
Speaker 1: you can tell there's more ability because Mitch McConnell is

439
00:26:22,680 --> 00:26:25,720
Speaker 1: not saying negative, he's just kind of being neutral right now.

440
00:26:25,720 --> 00:26:29,480
Speaker 1: He's trying to see how many of his members saddle

441
00:26:29,560 --> 00:26:32,159
Speaker 1: up to this idea. But I do think, you know,

442
00:26:32,240 --> 00:26:36,359
Speaker 1: the holiday season, not not Thanksgiving, but right now at

443
00:26:36,359 --> 00:26:39,600
Speaker 1: the end of the year, people are highly motivated between

444
00:26:39,640 --> 00:26:42,040
Speaker 1: now and Christmas, and I think between now and the eighteen.

445
00:26:42,359 --> 00:26:45,280
Speaker 1: The rumor is on Monday the bill will be dropped.

446
00:26:45,800 --> 00:26:48,040
Speaker 1: Uh in more detail in the sense of what the

447
00:26:48,560 --> 00:26:52,160
Speaker 1: two sides are talking about behind the scenes. The Biden

448
00:26:52,200 --> 00:26:55,720
Speaker 1: folks have clearly indicated get this thing done, and the

449
00:26:55,800 --> 00:26:58,439
Speaker 1: Trump people are saying the same thing about stemless. So

450
00:26:58,480 --> 00:27:02,560
Speaker 1: I think everyone now highly motivated. Probably a trillion dollars,

451
00:27:02,600 --> 00:27:06,280
Speaker 1: give or take a few billion there. But it is

452
00:27:06,359 --> 00:27:10,040
Speaker 1: this odd duck at the end of the year that

453
00:27:10,080 --> 00:27:12,000
Speaker 1: I know people call lane duck. I call it odd

454
00:27:12,080 --> 00:27:16,240
Speaker 1: duck at the end of the year that people suddenly realize,

455
00:27:16,280 --> 00:27:18,960
Speaker 1: oh my gosh, we have to actually do the work

456
00:27:19,000 --> 00:27:21,040
Speaker 1: we were sent here to do or we will be

457
00:27:21,080 --> 00:27:23,720
Speaker 1: in trouble. And so that's what's going on. The other

458
00:27:23,760 --> 00:27:26,439
Speaker 1: thing that's unique about this it happens every four years,

459
00:27:27,200 --> 00:27:29,680
Speaker 1: is they want to clear the deck for the new

460
00:27:29,760 --> 00:27:33,119
Speaker 1: incoming person. And that's what's partially going on to so

461
00:27:33,160 --> 00:27:36,760
Speaker 1: you gotta see some bills fly through that we're not

462
00:27:36,800 --> 00:27:40,560
Speaker 1: on anybody's radar screen. And Congressman Schweiker was on yesterday

463
00:27:40,600 --> 00:27:44,440
Speaker 1: and he said, it's also Speaker Pelosi, who's looking at

464
00:27:44,440 --> 00:27:48,399
Speaker 1: her shrinking majority in the next Congress, you know, and

465
00:27:48,400 --> 00:27:51,360
Speaker 1: so the centrists, the Centrists have a little bit more

466
00:27:51,400 --> 00:27:55,439
Speaker 1: political capital to kick around. Uh And and you know

467
00:27:55,520 --> 00:27:58,199
Speaker 1: Frank Massano, I mean you hear Senator Baggage and what

468
00:27:58,240 --> 00:28:00,879
Speaker 1: he's saying right there. You know, I'm looking at the

469
00:28:00,960 --> 00:28:03,720
Speaker 1: lists of Republicans who are are coming out with positive

470
00:28:03,760 --> 00:28:06,080
Speaker 1: comments on this, and I've only got thirty seconds to

471
00:28:06,119 --> 00:28:09,760
Speaker 1: ask you this question. It's rob portmant Romn Susan Collins.

472
00:28:09,880 --> 00:28:13,119
Speaker 1: I mean, there's no doubt. There's no doubt that every

473
00:28:13,119 --> 00:28:15,760
Speaker 1: one of those guys. Look, I think we cleared the

474
00:28:15,800 --> 00:28:20,320
Speaker 1: election right. There was consternation and partisanship before the election.

475
00:28:20,640 --> 00:28:23,840
Speaker 1: Once we cleared that election, I think the chances and

476
00:28:24,000 --> 00:28:27,080
Speaker 1: the pressure that Senator Beggage is talking about, those two

477
00:28:27,119 --> 00:28:30,320
Speaker 1: things combined to give folks the opportunity to come back

478
00:28:30,400 --> 00:28:32,760
Speaker 1: to the table and do something. Um. And they can

479
00:28:32,760 --> 00:28:35,359
Speaker 1: do it smaller because they can just get over that bridge.

480
00:28:35,400 --> 00:28:37,760
Speaker 1: And I think that's what we're talking about, and that's

481
00:28:37,760 --> 00:28:39,800
Speaker 1: why it's going to happen. And I think Senator Baggage

482
00:28:39,840 --> 00:28:42,480
Speaker 1: is right. There's gonna be additional stuff in there, like

483
00:28:42,520 --> 00:28:46,600
Speaker 1: an innovation bill, like the HFC legislation. Um, some of

484
00:28:46,600 --> 00:28:48,560
Speaker 1: those things are gonna make it in there, and we'll

485
00:28:48,560 --> 00:28:52,000
Speaker 1: see if they pass. For sure, Panel stays great discussion

486
00:28:52,040 --> 00:28:54,360
Speaker 1: to kick things off. You know what I always say,

487
00:28:54,360 --> 00:28:57,320
Speaker 1: Senator Baggage, if it walks like a deal, quacks like

488
00:28:57,360 --> 00:29:00,440
Speaker 1: a deal, talks like a deal, they gotta deal. I'm

489
00:29:00,520 --> 00:29:04,120
Speaker 1: Kevin Cirelli, Chief Washington Correspondent, and the Lame Duck, the

490
00:29:04,160 --> 00:29:20,520
Speaker 1: odd duck. You're listening to Bloomberg. This is Bloomberg Sound

491
00:29:20,600 --> 00:29:25,120
Speaker 1: On with Kevin Surreley on Bloomberg and one oh five

492
00:29:25,160 --> 00:29:29,280
Speaker 1: point seven f M HD two. I'm Kevin Cirelli, Chief

493
00:29:29,320 --> 00:29:33,400
Speaker 1: Washington correspondent from Bloomberg Television and Bloomberg Radio. We're talking

494
00:29:33,400 --> 00:29:36,400
Speaker 1: about the depositive developments on the fiscal stimulus front. And

495
00:29:36,440 --> 00:29:39,320
Speaker 1: we we mentioned earlier the Republicans who have come out

496
00:29:39,320 --> 00:29:43,040
Speaker 1: and spoken really in favor of this nine eight billion

497
00:29:43,160 --> 00:29:48,160
Speaker 1: dollars worth of fiscal stimulus. Mitt Romney, Susan Collins, Richard Shelby,

498
00:29:48,280 --> 00:29:51,920
Speaker 1: Rob Portman Um, you know, the list goes on and

499
00:29:52,000 --> 00:29:55,560
Speaker 1: on and on. John Thune, John Thune praising the Democrats

500
00:29:55,600 --> 00:29:58,160
Speaker 1: for moving down from two point four trillion dollars just

501
00:29:58,200 --> 00:30:00,320
Speaker 1: the other week. It was just the other a week

502
00:30:00,360 --> 00:30:02,840
Speaker 1: the Democrats were at two point four trillion dollars for

503
00:30:02,880 --> 00:30:05,840
Speaker 1: fiscal stimulus. They sliced it dice dick got it down

504
00:30:05,840 --> 00:30:09,240
Speaker 1: to nine eight billion dollars. What's in it? A couple

505
00:30:09,320 --> 00:30:13,000
Speaker 1: hundred billion for state and local governments, not as much

506
00:30:13,040 --> 00:30:16,240
Speaker 1: as the Democrats had wanted. Some more funding for there

507
00:30:16,320 --> 00:30:22,600
Speaker 1: to be uh for schools, an education, and some more

508
00:30:22,680 --> 00:30:27,360
Speaker 1: lending liquidity allocations for for Main Street and other small

509
00:30:27,400 --> 00:30:31,680
Speaker 1: businesses as well. Uh, the vaccination front, it's looking like

510
00:30:31,720 --> 00:30:34,360
Speaker 1: we all could get a vaccine sometime within the third

511
00:30:34,400 --> 00:30:37,160
Speaker 1: quarter of next calendar year. So I say all this

512
00:30:37,280 --> 00:30:42,680
Speaker 1: because some have spoken out against this compromise. Alexandria Accacio Cortez,

513
00:30:43,680 --> 00:30:49,320
Speaker 1: Senator Bernard Sanders, Independent of Vermont, Bernie Sanders, I'm not

514
00:30:49,400 --> 00:30:52,960
Speaker 1: being glib. Uh. Frank Massano is with us, a Republican insider.

515
00:30:53,040 --> 00:30:57,040
Speaker 1: Former Alaska Senator Mark Beget of course, a Democrat of Alaska.

516
00:30:57,040 --> 00:30:59,680
Speaker 1: Now he's a brown sting hired farmer in Shruk. Senator

517
00:30:59,720 --> 00:31:01,800
Speaker 1: beg It. You know, I gotta ask you. I look

518
00:31:01,840 --> 00:31:03,920
Speaker 1: at the list of folks who have come out against this.

519
00:31:04,600 --> 00:31:09,160
Speaker 1: They're saying it's not enough money. AOC Democratic socialist Bernie Sanders,

520
00:31:09,200 --> 00:31:13,440
Speaker 1: Democratic socialists, what gives? Well, I think you said it

521
00:31:13,440 --> 00:31:16,000
Speaker 1: in your description, and all due respect to them, um,

522
00:31:16,120 --> 00:31:18,200
Speaker 1: they would spend as much money as they could get

523
00:31:18,200 --> 00:31:21,400
Speaker 1: their hands on. And the reality is we have a

524
00:31:21,480 --> 00:31:23,680
Speaker 1: balancing act here, and that is you've got to make

525
00:31:23,720 --> 00:31:27,160
Speaker 1: sure that you know, you get Stumius in the hands

526
00:31:27,200 --> 00:31:31,400
Speaker 1: of Americans as quickly as possible. But you're gonna be

527
00:31:31,480 --> 00:31:33,400
Speaker 1: you know, honestly, you're gonna be back at this in

528
00:31:33,520 --> 00:31:36,560
Speaker 1: first quarter. I think there is no question there's going

529
00:31:36,600 --> 00:31:38,880
Speaker 1: to be after be I know the Biden administration is

530
00:31:38,920 --> 00:31:43,040
Speaker 1: focused on them as an investment into large infrastructure redevelopment

531
00:31:43,040 --> 00:31:45,480
Speaker 1: and projects. But you're going to have people of the

532
00:31:45,560 --> 00:31:48,600
Speaker 1: hard left of the Democratic Party that are gonna want more.

533
00:31:49,400 --> 00:31:52,800
Speaker 1: And uh, I think that's the that's their issue. But

534
00:31:52,840 --> 00:31:55,720
Speaker 1: at the end of the day, something is better than nothing,

535
00:31:55,760 --> 00:31:57,720
Speaker 1: and right now there's nothing. And if you talk to

536
00:31:57,920 --> 00:32:01,440
Speaker 1: small shop owners especially, they're feeling the pinch. And some

537
00:32:01,520 --> 00:32:06,000
Speaker 1: of these stores, retailers or restaurants and businesses won't be

538
00:32:06,080 --> 00:32:08,360
Speaker 1: in business after the first year. I mean, they just

539
00:32:08,480 --> 00:32:13,800
Speaker 1: cannot survive. And uh, as you said, the virus, the

540
00:32:13,880 --> 00:32:16,000
Speaker 1: vaccine is coming around the corner, but you know it

541
00:32:16,040 --> 00:32:19,760
Speaker 1: may not be enough, you know, in time. So those

542
00:32:19,760 --> 00:32:21,880
Speaker 1: folks are going to be complaining all the way to

543
00:32:22,000 --> 00:32:24,160
Speaker 1: the end. Will they vote for it? I hope so,

544
00:32:24,320 --> 00:32:27,760
Speaker 1: because they should be voting for something rather than nothing. Well,

545
00:32:27,840 --> 00:32:30,200
Speaker 1: you know, you look at Fiser, you look at Maderna,

546
00:32:30,280 --> 00:32:32,360
Speaker 1: you look at Astra Zeneca. I mean, it really is

547
00:32:32,440 --> 00:32:35,240
Speaker 1: looking like all systems could be a go in terms

548
00:32:35,280 --> 00:32:37,480
Speaker 1: of getting it into the market, if not by the

549
00:32:37,600 --> 00:32:39,920
Speaker 1: end of this calendar year, in the next couple of weeks,

550
00:32:39,920 --> 00:32:43,200
Speaker 1: definitely in January or February. And that just has renewed

551
00:32:43,200 --> 00:32:45,120
Speaker 1: the sense of optimism. But one of the things that

552
00:32:45,160 --> 00:32:47,280
Speaker 1: I don't think we've spent enough time talking about in

553
00:32:47,280 --> 00:32:50,840
Speaker 1: the media is whether or not the supply chains, uh,

554
00:32:50,840 --> 00:32:52,760
Speaker 1: Frank are ready for this. You know fromt page of

555
00:32:52,800 --> 00:32:56,120
Speaker 1: the Wall Street Journal today about whether or not there's

556
00:32:56,200 --> 00:32:57,920
Speaker 1: enough dry ice, if there's going to be a dry

557
00:32:57,920 --> 00:33:01,440
Speaker 1: ice shortage because of all of the dry ice that

558
00:33:01,560 --> 00:33:04,240
Speaker 1: is going to be needed for there to be in

559
00:33:04,280 --> 00:33:06,760
Speaker 1: the supply chains for the vaccines. We talked about the shots,

560
00:33:06,760 --> 00:33:08,680
Speaker 1: We talked about the equipment that goes into a shot.

561
00:33:09,000 --> 00:33:11,440
Speaker 1: I mean, there's gonna be such strong demand for this,

562
00:33:11,880 --> 00:33:13,560
Speaker 1: you know, maybe that needs to be part of the

563
00:33:13,600 --> 00:33:16,800
Speaker 1: conversation up on Capitol Hill is what can policymakers be doing,

564
00:33:16,800 --> 00:33:20,240
Speaker 1: What can Operation warp Speed be doing in order to

565
00:33:20,240 --> 00:33:23,360
Speaker 1: make sure that once there is a vaccine in the

566
00:33:23,400 --> 00:33:25,720
Speaker 1: supply chain, that everybody is ready for Frank well, and

567
00:33:25,760 --> 00:33:27,880
Speaker 1: I think that's part of it too. There's two aspects

568
00:33:27,880 --> 00:33:30,440
Speaker 1: of this one. There's always going to be glitches when

569
00:33:30,440 --> 00:33:32,400
Speaker 1: you're doing things that you don't and you have things

570
00:33:32,400 --> 00:33:35,160
Speaker 1: that you don't know that you don't know, right, and

571
00:33:35,320 --> 00:33:37,880
Speaker 1: we can work through a lot of these things, and um,

572
00:33:37,920 --> 00:33:39,760
Speaker 1: we'll be able to do that. In fact, you know,

573
00:33:39,800 --> 00:33:43,200
Speaker 1: on the dry ice side, there are lots of manufacturers

574
00:33:43,200 --> 00:33:45,120
Speaker 1: in the US who have been doing dry ice for

575
00:33:45,200 --> 00:33:47,800
Speaker 1: medical purposes for a long time and they, I can

576
00:33:47,800 --> 00:33:50,880
Speaker 1: tell you already are preparing for those opportunities to make

577
00:33:50,920 --> 00:33:54,200
Speaker 1: sure that they have plenty of supply and things like that.

578
00:33:54,440 --> 00:33:56,560
Speaker 1: On the other on the other hand, you know, we're

579
00:33:56,600 --> 00:33:59,280
Speaker 1: also in a stage where we have to get people

580
00:33:59,320 --> 00:34:02,680
Speaker 1: to be willing to take the vaccines too. And I

581
00:34:02,680 --> 00:34:07,280
Speaker 1: think the President's the living presidents coming out the other

582
00:34:07,360 --> 00:34:09,640
Speaker 1: day and saying they would be first in line to

583
00:34:09,680 --> 00:34:13,000
Speaker 1: get the vaccines to show confidence even with President Trump

584
00:34:13,080 --> 00:34:15,520
Speaker 1: saying he would take the vaccine. So I think those

585
00:34:15,560 --> 00:34:18,160
Speaker 1: are important things to to get that other aspect of it,

586
00:34:18,200 --> 00:34:21,360
Speaker 1: which is getting people to be willing to accept that

587
00:34:21,440 --> 00:34:24,279
Speaker 1: they ought to take the vaccine as well. Those are

588
00:34:24,320 --> 00:34:27,959
Speaker 1: two huge different and those are huge factors in both

589
00:34:28,040 --> 00:34:30,399
Speaker 1: different factors that are going to have to be dealt

590
00:34:30,440 --> 00:34:32,880
Speaker 1: with along the way, not just getting it ready, but

591
00:34:32,960 --> 00:34:35,200
Speaker 1: having all these other pieces lined up as well. Yeah,

592
00:34:35,200 --> 00:34:38,080
Speaker 1: it's such a good point. And earlier today, President elect

593
00:34:38,160 --> 00:34:40,360
Speaker 1: Joe Biden said that he would ask all Americans to

594
00:34:40,400 --> 00:34:43,200
Speaker 1: wear a mask to prevent the spread of the coronavirus

595
00:34:43,200 --> 00:34:46,279
Speaker 1: for the first one days of his administration, as well

596
00:34:46,320 --> 00:34:49,560
Speaker 1: as issue a quote standing order end quote requiring face

597
00:34:49,640 --> 00:34:54,439
Speaker 1: coverings in federal buildings and interstate transportation, and then an

598
00:34:54,440 --> 00:34:57,600
Speaker 1: interview with CNN earlier today, Biden also said that he

599
00:34:57,680 --> 00:35:01,600
Speaker 1: had spoken with Dr Anthony Auchi and he'd asked him

600
00:35:01,600 --> 00:35:05,680
Speaker 1: to stay on is the government's top infectious disease expert.

601
00:35:06,280 --> 00:35:08,520
Speaker 1: Fauci has said publicly that he would actually that he

602
00:35:08,520 --> 00:35:10,480
Speaker 1: would absolutely do that, and he is, of course the

603
00:35:10,600 --> 00:35:14,200
Speaker 1: director of the National Institute of Allergy and Infectious Diseases.

604
00:35:14,480 --> 00:35:17,040
Speaker 1: Senator Beggatt, you know, Frank makes a really good point there.

605
00:35:17,400 --> 00:35:19,880
Speaker 1: It's going to be up to to some prominent, trusted

606
00:35:20,000 --> 00:35:24,600
Speaker 1: national voices like Dr Fauci to convince people to get

607
00:35:24,600 --> 00:35:29,439
Speaker 1: the vaccine. I'm getting absolutely, I'm not gonna cut in line.

608
00:35:29,480 --> 00:35:31,360
Speaker 1: I'm being I'm being glam and I shouldn't be. But

609
00:35:31,400 --> 00:35:33,239
Speaker 1: I definitely want to get the vaccine. That's all I'm

610
00:35:33,239 --> 00:35:36,880
Speaker 1: gonna say. Go ahead. Yeah, no, I'm with you. I

611
00:35:36,880 --> 00:35:39,440
Speaker 1: think I think it's great that the three more three

612
00:35:39,520 --> 00:35:41,759
Speaker 1: former presidents have stepped to the to the plate. I

613
00:35:41,800 --> 00:35:45,120
Speaker 1: know when you look at stores like Walgreens and CVS,

614
00:35:45,160 --> 00:35:47,680
Speaker 1: they're getting prepared to be kind of a center of distribution.

615
00:35:48,080 --> 00:35:50,719
Speaker 1: But the other piece that I think is important is

616
00:35:50,760 --> 00:35:53,360
Speaker 1: it's great to get people like Fauci and others, but

617
00:35:53,800 --> 00:35:55,200
Speaker 1: you know, we got to get to the groups that

618
00:35:55,360 --> 00:35:58,160
Speaker 1: don't or hesitant or don't wear a mask and do

619
00:35:58,160 --> 00:36:00,719
Speaker 1: all that these younger people. We to get some of

620
00:36:00,719 --> 00:36:02,359
Speaker 1: the folks who I hate to say this, but from

621
00:36:02,400 --> 00:36:06,520
Speaker 1: the mainstream kind of music world, entertainment world and others

622
00:36:06,640 --> 00:36:10,960
Speaker 1: that young people connect with that do it also because

623
00:36:10,960 --> 00:36:12,799
Speaker 1: we have to show that this is not just a

624
00:36:12,840 --> 00:36:17,200
Speaker 1: bunch of politicians or policymakers getting these but there's a

625
00:36:17,239 --> 00:36:19,759
Speaker 1: bunch of other people who don't look to them necessarily

626
00:36:19,800 --> 00:36:22,279
Speaker 1: as the the voice that they're looking toward. But if

627
00:36:22,320 --> 00:36:26,319
Speaker 1: they see you know, their own uh you know, uh,

628
00:36:26,440 --> 00:36:30,080
Speaker 1: folks that are relating to with an entertainment or sports

629
00:36:30,080 --> 00:36:32,239
Speaker 1: world or whatever it might be, We've got to have

630
00:36:32,280 --> 00:36:34,560
Speaker 1: kind of a comprehensive because there is you know, just

631
00:36:34,680 --> 00:36:39,040
Speaker 1: a flu vaccine, for example, in Alaska, only the people

632
00:36:39,080 --> 00:36:41,799
Speaker 1: take it that are over sixty the highest risk as

633
00:36:41,840 --> 00:36:45,640
Speaker 1: an example, and that is crazy when that's been around

634
00:36:45,640 --> 00:36:49,000
Speaker 1: an easy access So this one do you want? You

635
00:36:49,040 --> 00:36:52,839
Speaker 1: want to get it up there? Great to get it's

636
00:36:52,840 --> 00:36:54,799
Speaker 1: got to be a national campaign. A bipart is a

637
00:36:54,840 --> 00:36:58,440
Speaker 1: nonpart is an American campaign. That interview with CNN. By

638
00:36:58,440 --> 00:37:01,279
Speaker 1: the way, it was yesterday and corrected Biden spoke to

639
00:37:01,280 --> 00:37:04,240
Speaker 1: see and and yesterday the interview that I just referenced.

640
00:37:04,280 --> 00:37:07,200
Speaker 1: Much more coming up next, Kevin Cirelli, you're listening to Bloomberg.

641
00:37:21,280 --> 00:37:25,839
Speaker 1: This is Bloomberg's sound on with Kevin Surreley on Bloomberg

642
00:37:26,960 --> 00:37:30,760
Speaker 1: and one all five point seven MHD two. I'm Kevin Cirelli,

643
00:37:30,800 --> 00:37:33,920
Speaker 1: Chief Washington correspondent for Bloomberg Television and for Bloomberg Radio.

644
00:37:34,040 --> 00:37:36,480
Speaker 1: Much more coming up next, including what is on the

645
00:37:36,520 --> 00:37:39,040
Speaker 1: panel's radar. But first we do this as we head

646
00:37:39,080 --> 00:37:43,200
Speaker 1: on down to Georgia, Georgia, where, of course the January

647
00:37:43,200 --> 00:37:50,640
Speaker 1: five runoff election has captivated and otherwise usually little boring, dull,

648
00:37:51,160 --> 00:37:55,560
Speaker 1: lame duck session for the political consulting and strategic crowd,

649
00:37:55,960 --> 00:38:01,280
Speaker 1: but it was marred with tragedy as a as a

650
00:38:01,280 --> 00:38:06,680
Speaker 1: as a campaign staffer to Senator Kelly Lefler passed away.

651
00:38:07,760 --> 00:38:10,560
Speaker 1: Fox News reports that a young member of Senator Kelly

652
00:38:10,600 --> 00:38:13,799
Speaker 1: Leffler's campaign staff died in a car wreck, and as

653
00:38:13,800 --> 00:38:16,000
Speaker 1: a result of that, she will not be attending President

654
00:38:16,000 --> 00:38:19,680
Speaker 1: Trump's campaign rally tomorrow. A young field staff are working

655
00:38:19,719 --> 00:38:22,200
Speaker 1: on Senator Kelly Leffler's campaign has died in a car crash.

656
00:38:22,280 --> 00:38:25,760
Speaker 1: Leffler identified the victim as Harrison Deal in a statement

657
00:38:25,800 --> 00:38:28,920
Speaker 1: on Friday. He also had ties to Georgia Governor Bryant

658
00:38:29,000 --> 00:38:32,319
Speaker 1: Kemp and Senator David Purdue. My heart aches for his

659
00:38:32,360 --> 00:38:35,040
Speaker 1: family and Jeff and I will continue to surround them

660
00:38:35,040 --> 00:38:37,640
Speaker 1: in love and prayer in the days ahead, Leffler said

661
00:38:37,640 --> 00:38:39,799
Speaker 1: in a statement, Harrison was a beloved member of our

662
00:38:39,840 --> 00:38:43,520
Speaker 1: campaign team. More importantly, Harrison was a smart, right loving, loyal,

663
00:38:44,120 --> 00:38:49,239
Speaker 1: an outstanding young man. End quote. Uh, you know, I

664
00:38:49,880 --> 00:38:54,800
Speaker 1: say this from here in Washington, d C. And outside

665
00:38:54,800 --> 00:38:58,279
Speaker 1: of the nation's capital. Maybe it's maybe it's sometimes it

666
00:38:58,840 --> 00:39:04,319
Speaker 1: I don't know, but so many young people work on campaigns,

667
00:39:04,960 --> 00:39:08,640
Speaker 1: volunteers and young people talking fresh out of college. Maybe

668
00:39:08,640 --> 00:39:11,400
Speaker 1: they're still in college, but definitely under the age of

669
00:39:11,480 --> 00:39:16,560
Speaker 1: thirty five, and you're you're, you're driving around, you're going

670
00:39:16,600 --> 00:39:20,000
Speaker 1: from place to place, your sleep deprived, You're you're, you know,

671
00:39:20,040 --> 00:39:23,200
Speaker 1: eating the campaign diet, which is not healthy. And any

672
00:39:23,239 --> 00:39:26,680
Speaker 1: time a tragedy like this happens, I can tell you

673
00:39:26,719 --> 00:39:30,680
Speaker 1: this being here in Washington, d C. For the past decade,

674
00:39:31,719 --> 00:39:41,160
Speaker 1: it grips the young person's mind and also grips there

675
00:39:41,160 --> 00:39:45,000
Speaker 1: there's a respect I think that even still exists in Washington,

676
00:39:45,080 --> 00:39:49,400
Speaker 1: d C. Amongst Republicans and Democrats because there's a shared

677
00:39:49,480 --> 00:39:57,520
Speaker 1: experience that still exists on this campaign cycle grind So

678
00:39:57,719 --> 00:40:01,360
Speaker 1: I will also extend my condolences. It's a Harrison's family

679
00:40:02,040 --> 00:40:04,320
Speaker 1: as well. Frank Massano's with me. He is a partner

680
00:40:04,320 --> 00:40:07,440
Speaker 1: of brace Well's Policy Resolution Group. Former Press secretary to

681
00:40:07,480 --> 00:40:11,399
Speaker 1: several Republican lawmakers on Capitol Hill, including Indiana Senator Richard

682
00:40:11,440 --> 00:40:15,040
Speaker 1: Lugar and former Alaska Senator Mark Beggett. Is a strategic

683
00:40:15,040 --> 00:40:18,040
Speaker 1: consulting advisor Brownston, Hyatt Farber and Shrek. You know, Senator,

684
00:40:18,080 --> 00:40:21,279
Speaker 1: I gotta I gotta be candid here. Yeah, you hear

685
00:40:21,440 --> 00:40:25,520
Speaker 1: sort of the a story like that, and it it

686
00:40:25,600 --> 00:40:28,080
Speaker 1: really stops you, It really makes you pause, especially in

687
00:40:28,120 --> 00:40:31,920
Speaker 1: a month like this, in a year like this, Senator, No,

688
00:40:32,120 --> 00:40:35,440
Speaker 1: it doesn't. And sadly, for what you just described, a

689
00:40:35,480 --> 00:40:38,600
Speaker 1: lot of these nine of these workers are like you said,

690
00:40:38,640 --> 00:40:41,560
Speaker 1: under thirty thirty five. They're very young, a lot ahead

691
00:40:41,600 --> 00:40:44,360
Speaker 1: of um, a lot of opportunity, and they're just working,

692
00:40:44,680 --> 00:40:47,320
Speaker 1: you know, their hearts out for the cause or the

693
00:40:47,400 --> 00:40:51,440
Speaker 1: person they're supporting. And when a tragedy like this occurs,

694
00:40:51,640 --> 00:40:53,840
Speaker 1: it doesn't matter what side of the aisle, what campaign

695
00:40:53,920 --> 00:40:56,799
Speaker 1: you're on, you feel for it because it could have

696
00:40:56,840 --> 00:40:59,719
Speaker 1: happened any of your campaign workers, and so you think

697
00:40:59,719 --> 00:41:03,000
Speaker 1: about that, you know, a great deal. So no, I

698
00:41:03,680 --> 00:41:06,960
Speaker 1: you know, it's a it's sad um in a pretty

699
00:41:07,000 --> 00:41:11,239
Speaker 1: heated campaign down there, and maybe you know, people can

700
00:41:11,280 --> 00:41:14,000
Speaker 1: take a pause and just think about the bigger picture

701
00:41:14,040 --> 00:41:17,480
Speaker 1: of life and not be so negative and attacking all

702
00:41:17,480 --> 00:41:19,279
Speaker 1: the time. But this is, you know, it is one

703
00:41:19,280 --> 00:41:21,880
Speaker 1: of those things that you do think about. And you know,

704
00:41:22,120 --> 00:41:24,880
Speaker 1: the campaign workers in a state like ours, you know,

705
00:41:25,000 --> 00:41:28,200
Speaker 1: they're spread all over the state and you know things

706
00:41:28,280 --> 00:41:30,600
Speaker 1: can happen, and you know, so our hearts to go

707
00:41:30,640 --> 00:41:34,879
Speaker 1: out to any campaign worker that ends up in the tragedy. Well,

708
00:41:34,920 --> 00:41:37,879
Speaker 1: and you don't have all that have been on that road, right,

709
00:41:38,080 --> 00:41:41,600
Speaker 1: I mean, I I did, I'm, I'm I'm you know,

710
00:41:42,040 --> 00:41:44,800
Speaker 1: way past that an age now, but you know that

711
00:41:45,000 --> 00:41:49,600
Speaker 1: I still remember running around northeast Wisconsin like it was

712
00:41:49,719 --> 00:41:53,120
Speaker 1: yesterday because of the shared experience that you had out

713
00:41:53,120 --> 00:41:57,799
Speaker 1: there with people, meeting people, getting to talk about the

714
00:41:57,880 --> 00:42:00,799
Speaker 1: things that were important to them and share ring. You know,

715
00:42:00,920 --> 00:42:04,680
Speaker 1: the members that you work for, their vision for for

716
00:42:04,719 --> 00:42:07,000
Speaker 1: what it meant to those people. So you know, that's

717
00:42:07,000 --> 00:42:09,880
Speaker 1: a really important part. And you know, no matter where

718
00:42:09,880 --> 00:42:13,680
Speaker 1: you are, Wisconsin, Alaska, Georgia, you know, there's there's there's

719
00:42:13,719 --> 00:42:16,120
Speaker 1: a lot of that that we need to remember. And

720
00:42:16,160 --> 00:42:18,640
Speaker 1: you know, the other thing that hits me is, you know,

721
00:42:18,719 --> 00:42:21,080
Speaker 1: you know because you've you've been to my class before,

722
00:42:21,080 --> 00:42:23,520
Speaker 1: but I teach a lot of these kids at at

723
00:42:23,520 --> 00:42:26,000
Speaker 1: g W and I've done that for the last ten years.

724
00:42:26,040 --> 00:42:29,239
Speaker 1: And you know, all of these kids who are in

725
00:42:29,320 --> 00:42:32,560
Speaker 1: my classes, they go and they do that stuff, their

726
00:42:32,640 --> 00:42:35,360
Speaker 1: volunteers and there some of them are in school, some

727
00:42:35,400 --> 00:42:36,960
Speaker 1: of them are just out of school. Some of them

728
00:42:37,000 --> 00:42:39,360
Speaker 1: are working on Capitol Hill and are going back on

729
00:42:39,800 --> 00:42:42,920
Speaker 1: the campaign trail, and you know, you just they all

730
00:42:42,960 --> 00:42:46,279
Speaker 1: have a bright future. They all have the excitement in

731
00:42:46,360 --> 00:42:48,640
Speaker 1: their eyes, and um, you know, you just hate to

732
00:42:48,680 --> 00:42:52,759
Speaker 1: hear something like that. Yeah, it's definitely, yeah, absolutely both

733
00:42:52,800 --> 00:42:54,560
Speaker 1: of you. Um, so I want to play for you.

734
00:42:54,600 --> 00:42:57,320
Speaker 1: A former President Barack Obama had to say about the

735
00:42:57,880 --> 00:43:00,799
Speaker 1: state of affairs in the Georgia run off. Here. Here's

736
00:43:00,840 --> 00:43:03,279
Speaker 1: former President Barack Obama talking about Georgia. Because it is

737
00:43:03,480 --> 00:43:06,480
Speaker 1: it has garnered so much attention these run off elections.

738
00:43:07,000 --> 00:43:11,719
Speaker 1: If the Senate is controlled by Republicans who are interested

739
00:43:11,800 --> 00:43:17,640
Speaker 1: in obstruction and gridlock rather than progress and helping people,

740
00:43:18,040 --> 00:43:23,040
Speaker 1: they can block just about anything. And then you've got

741
00:43:23,040 --> 00:43:25,880
Speaker 1: Senator David Purdue, Republican of Georgia running for re election.

742
00:43:25,920 --> 00:43:29,480
Speaker 1: Here he is it's a simple choice between headed down

743
00:43:29,480 --> 00:43:34,160
Speaker 1: the road to socialism or to keep our freedom freedom.

744
00:43:34,400 --> 00:43:36,680
Speaker 1: Senator Baggage, I mean, how how tough is it to

745
00:43:36,800 --> 00:43:39,560
Speaker 1: mobilize Democrats to show up in a state that, yes,

746
00:43:39,640 --> 00:43:43,680
Speaker 1: voted for Joe Biden, but hadn't done so since and

747
00:43:43,760 --> 00:43:49,960
Speaker 1: quite honestly, where democratic socialism is not really taking hold. Yeah,

748
00:43:50,000 --> 00:43:52,040
Speaker 1: and I would say, you know, in all due respect

749
00:43:52,120 --> 00:43:56,160
Speaker 1: to the Senator, there's spoke about democratic socialism. This is

750
00:43:56,239 --> 00:43:57,600
Speaker 1: kind of a new right. This is kind of a

751
00:43:57,640 --> 00:44:00,399
Speaker 1: new phrase that they love to use. You know, I'm

752
00:44:00,440 --> 00:44:03,280
Speaker 1: not a socialist. I'm a Democrat, but I'm a capitalist democrat.

753
00:44:03,360 --> 00:44:07,399
Speaker 1: Let me make that very clear. But um, you know, uh,

754
00:44:07,600 --> 00:44:10,600
Speaker 1: but I would say this that, um, Georgia, And it

755
00:44:10,960 --> 00:44:12,640
Speaker 1: was that I said this before, I think on your

756
00:44:12,640 --> 00:44:15,960
Speaker 1: show that I had picked Georgia early in late spring

757
00:44:16,120 --> 00:44:19,040
Speaker 1: as a wild card state and that I felt Biden

758
00:44:19,080 --> 00:44:22,080
Speaker 1: could win it because it was trending and the folks

759
00:44:22,120 --> 00:44:25,960
Speaker 1: down there. Stacy Abrams is a master of getting votes out.

760
00:44:26,000 --> 00:44:30,480
Speaker 1: She has figured out the rhythm of getting votes out

761
00:44:30,600 --> 00:44:33,720
Speaker 1: in a hard fought counties and I think her team

762
00:44:33,800 --> 00:44:36,360
Speaker 1: is working double time out there. The key the problem

763
00:44:36,400 --> 00:44:39,360
Speaker 1: always is in a runoff, as you know, Uh, turnout

764
00:44:39,440 --> 00:44:42,759
Speaker 1: decreases because people just lose enthusiasm. The question will be

765
00:44:43,239 --> 00:44:46,880
Speaker 1: will the president Trump folks who are very enthusiastic about

766
00:44:46,960 --> 00:44:49,680
Speaker 1: him on the ballot come back out. Will the folks

767
00:44:49,680 --> 00:44:53,719
Speaker 1: who got excited about the general sense of the election

768
00:44:54,040 --> 00:44:56,600
Speaker 1: on the Democratic side get out and vote. But what's

769
00:44:56,600 --> 00:45:02,600
Speaker 1: interesting is Georgia voters, I believe got out because uh,

770
00:45:02,640 --> 00:45:06,239
Speaker 1: they saw an opportunity and the folks that were organizing

771
00:45:06,280 --> 00:45:08,960
Speaker 1: them to Stacy Abrahams and others did a hell of

772
00:45:09,000 --> 00:45:11,600
Speaker 1: a job. And I think they're in they're in full gear.

773
00:45:11,719 --> 00:45:14,640
Speaker 1: The thing that's going to be outrageous is how much

774
00:45:14,800 --> 00:45:20,719
Speaker 1: money will be spent there between now in January five. Well,

775
00:45:20,800 --> 00:45:23,320
Speaker 1: so you know, for for me this, you know, on

776
00:45:24,320 --> 00:45:29,040
Speaker 1: on democrats best day in Georgia, with Biden winning by

777
00:45:29,040 --> 00:45:32,200
Speaker 1: a couple of thousand votes, ten thousand maybe right, they

778
00:45:32,239 --> 00:45:36,239
Speaker 1: still were two and a half percentage points behind per

779
00:45:36,320 --> 00:45:40,719
Speaker 1: Due and even way more behind the combination of Collins

780
00:45:40,760 --> 00:45:44,520
Speaker 1: and Leffler. So it's an uphill climb for Democrats here. No,

781
00:45:44,680 --> 00:45:46,960
Speaker 1: I think the Senator makes a great point. You know,

782
00:45:47,000 --> 00:45:50,640
Speaker 1: where's the enthusiasm on both sides? Right, Democrats have kind

783
00:45:50,680 --> 00:45:53,640
Speaker 1: of had that enthusiasm to get rid of Trump, and

784
00:45:53,719 --> 00:45:55,920
Speaker 1: some of that may be lost. And you know, I

785
00:45:55,960 --> 00:45:59,239
Speaker 1: think part of the reason you've seen Republicans walk with

786
00:45:59,800 --> 00:46:02,960
Speaker 1: very a fine line here in dealing with the President

787
00:46:03,120 --> 00:46:07,040
Speaker 1: and his his disappointment with losing let's just put those

788
00:46:07,160 --> 00:46:10,879
Speaker 1: those words on it. Um, You've you've seen them kind

789
00:46:10,880 --> 00:46:13,239
Speaker 1: of treat him with kid gloves because they don't want

790
00:46:13,320 --> 00:46:17,120
Speaker 1: him to put at risk. Um, you know that Trump

791
00:46:17,440 --> 00:46:20,399
Speaker 1: vote that's going to turn out in Georgia. I think

792
00:46:20,600 --> 00:46:23,040
Speaker 1: one of the things that you're hearing, the reason you're

793
00:46:23,080 --> 00:46:26,160
Speaker 1: hearing people talk about democratic socialists and things like that,

794
00:46:26,320 --> 00:46:29,280
Speaker 1: it's because you have a couple of guys whose records

795
00:46:29,320 --> 00:46:33,160
Speaker 1: are not very clear, right in Warnock and us Off,

796
00:46:33,320 --> 00:46:36,200
Speaker 1: both of us Off is very young, He's run a

797
00:46:36,200 --> 00:46:41,240
Speaker 1: couple of races. Warnock has you know, UH has said

798
00:46:41,280 --> 00:46:44,239
Speaker 1: some things that that won't go over that well. I'm

799
00:46:44,280 --> 00:46:46,399
Speaker 1: certain that those things are going to come out. So

800
00:46:46,880 --> 00:46:50,560
Speaker 1: the Republicans are trying to define them as much as

801
00:46:50,640 --> 00:46:54,319
Speaker 1: they can because they're not defined, whereas Luffler and Uh

802
00:46:54,360 --> 00:46:56,520
Speaker 1: and Perdue are pretty well known. So I think that's

803
00:46:56,520 --> 00:46:59,240
Speaker 1: a factor and we'll have to see how that plays

804
00:46:59,239 --> 00:47:02,000
Speaker 1: out in the end. But you know, the numbers are

805
00:47:02,239 --> 00:47:04,839
Speaker 1: are not great for Democrats here. That make it an

806
00:47:04,920 --> 00:47:07,680
Speaker 1: uphill climb, and we'll see if they can overcome it. Alright,

807
00:47:07,719 --> 00:47:10,480
Speaker 1: Panel States Panel Stays coming up next. What's on their radar?

808
00:47:10,520 --> 00:47:13,239
Speaker 1: I'm Kevin Surley, chief Washington correspondent Fromloomberg TV and Radio.

809
00:47:13,400 --> 00:47:40,240
Speaker 1: You're listening to Bloomberg nine one. This is Bloomberg Sound

810
00:47:40,280 --> 00:47:44,839
Speaker 1: On with Kevin Shirley on Bloomberg and one oh, five

811
00:47:44,880 --> 00:47:48,000
Speaker 1: point seven f M H D two. I'm Kevin Sireli,

812
00:47:48,120 --> 00:47:52,000
Speaker 1: chief Washington correspondent for Bloomberg Television and for Bloomberg Radio.

813
00:47:52,080 --> 00:47:55,080
Speaker 1: Frank Masano's with us. Mark Baggage is without this, Senator.

814
00:47:55,360 --> 00:47:59,840
Speaker 1: How's uh, how's Alaska been handling COVID nineteen. What's the

815
00:48:00,080 --> 00:48:03,520
Speaker 1: what's the what's going on up there? We've had increases

816
00:48:03,719 --> 00:48:07,920
Speaker 1: pretty significant ones, record days. The mayor of the largest

817
00:48:07,920 --> 00:48:12,000
Speaker 1: city here just uh did a hunker down for thirty days,

818
00:48:12,080 --> 00:48:14,960
Speaker 1: which has caused some stress on you know, retailers at

819
00:48:15,000 --> 00:48:20,480
Speaker 1: the moment of holiday occupancy levels only now dining in

820
00:48:20,680 --> 00:48:23,759
Speaker 1: some other things, so, you know, a little definitely stressful.

821
00:48:23,840 --> 00:48:27,080
Speaker 1: And some of our more remote communities are you know,

822
00:48:27,200 --> 00:48:30,359
Speaker 1: once there's a uh, you know, an active case there,

823
00:48:30,400 --> 00:48:33,479
Speaker 1: it spreads fairly quickly because it's an enclosed community. So

824
00:48:33,800 --> 00:48:35,759
Speaker 1: we have some challenges there. But the good news is

825
00:48:35,800 --> 00:48:39,839
Speaker 1: we have some great medical folks here in great hospital facilities,

826
00:48:39,840 --> 00:48:42,239
Speaker 1: so we're you know, we feel good, but you know,

827
00:48:42,360 --> 00:48:45,839
Speaker 1: it's I think people are anxious, you know, get us

828
00:48:45,840 --> 00:48:49,480
Speaker 1: the vaccine, you know, kind of, but but you know,

829
00:48:49,560 --> 00:48:51,759
Speaker 1: it's tough stuff and hurt the it's hard on the

830
00:48:51,840 --> 00:48:54,680
Speaker 1: economy here because we've been hit multiple ways to oil

831
00:48:54,719 --> 00:49:00,200
Speaker 1: and gas, COVID at tourism. Three, how you live been

832
00:49:00,320 --> 00:49:03,880
Speaker 1: more rural but very isolated parts of the state. Have

833
00:49:03,920 --> 00:49:06,160
Speaker 1: they been impacted by COVID nineteen and if so, how

834
00:49:06,160 --> 00:49:11,680
Speaker 1: have they been able to get resources? Medical? Economic resources? Um?

835
00:49:11,760 --> 00:49:15,360
Speaker 1: I think that yeah, are they? Yeah? Over over half

836
00:49:15,400 --> 00:49:17,480
Speaker 1: of our communities. You can't get there unless you fly

837
00:49:17,640 --> 00:49:21,360
Speaker 1: to them. So it's very difficult. Barrel, which is a

838
00:49:21,400 --> 00:49:24,480
Speaker 1: population up north on the North Arctic, is you know,

839
00:49:24,560 --> 00:49:28,760
Speaker 1: seven thousand people. You only get there by plane, and uh,

840
00:49:28,800 --> 00:49:31,120
Speaker 1: you know, they had a big number today I heard

841
00:49:31,160 --> 00:49:34,800
Speaker 1: on COVID cases. Because once it's spread, it's fairly quickly

842
00:49:34,840 --> 00:49:38,200
Speaker 1: because the culture is a lot of gathering that people

843
00:49:38,239 --> 00:49:41,880
Speaker 1: do together, a lot of families together, and so it's tough.

844
00:49:42,000 --> 00:49:45,239
Speaker 1: I mean, it's so we have good you know, we

845
00:49:45,239 --> 00:49:47,879
Speaker 1: have some good airlines that fly into these areas and

846
00:49:47,920 --> 00:49:50,880
Speaker 1: we'll do it as necessary. And but it's you know,

847
00:49:51,000 --> 00:49:53,360
Speaker 1: we have some good remote uh, some of the best

848
00:49:53,480 --> 00:49:57,280
Speaker 1: Indian Health Service hospitals run by tribal governments here in Alaska,

849
00:49:57,400 --> 00:50:00,319
Speaker 1: very unique program some of the best in the try

850
00:50:00,360 --> 00:50:03,480
Speaker 1: to say the least, and so that has been very helpful,

851
00:50:03,560 --> 00:50:05,319
Speaker 1: but it's it's tough because you can't get in there

852
00:50:05,320 --> 00:50:07,239
Speaker 1: other than the plane. And if the weather is bad,

853
00:50:08,040 --> 00:50:10,799
Speaker 1: you good luck. I mean, we had someone just two

854
00:50:10,880 --> 00:50:13,160
Speaker 1: days ago die in a village because they couldn't get out.

855
00:50:13,480 --> 00:50:15,840
Speaker 1: They had COVID, they could not get out because the

856
00:50:15,840 --> 00:50:18,920
Speaker 1: weather would not allow a plane to come and get them. Wow,

857
00:50:19,320 --> 00:50:22,520
Speaker 1: well about all of the real deal. Yeah, you think

858
00:50:22,560 --> 00:50:24,600
Speaker 1: about all the challenges that cities are facing, and I

859
00:50:24,640 --> 00:50:27,840
Speaker 1: don't think we've done enough in the media to talk about, uh,

860
00:50:27,920 --> 00:50:32,839
Speaker 1: the challenges that that very hard to reach communities are

861
00:50:32,840 --> 00:50:34,920
Speaker 1: also it's just it's and you know what they all

862
00:50:34,920 --> 00:50:38,960
Speaker 1: have in common, low socioeconomic um and common and so

863
00:50:39,000 --> 00:50:42,160
Speaker 1: it's it's a very very absolutely we really we've really

864
00:50:42,239 --> 00:50:45,600
Speaker 1: hit a trouble spot here across the board, not just

865
00:50:45,760 --> 00:50:49,879
Speaker 1: rural Alaska, not just DC, in New York and cities California.

866
00:50:49,920 --> 00:50:53,319
Speaker 1: I mean, look, it's it's broad and it's everywhere, and

867
00:50:53,400 --> 00:50:57,560
Speaker 1: everyone's feeling it. And I feel sorry for the businesses that,

868
00:50:57,640 --> 00:51:00,720
Speaker 1: you know, the restaurant owners who who you know, thought

869
00:51:00,719 --> 00:51:02,560
Speaker 1: they had made it through the worst of it. And

870
00:51:02,600 --> 00:51:04,960
Speaker 1: you know, that's this more reason why we need to

871
00:51:05,000 --> 00:51:07,200
Speaker 1: get you know, some more help on the way as

872
00:51:07,280 --> 00:51:10,760
Speaker 1: quickly as possible, through through getting together and doing something

873
00:51:11,120 --> 00:51:13,880
Speaker 1: in Congress. Yeah, alright, time now for what's on the

874
00:51:13,880 --> 00:51:17,080
Speaker 1: panel's radar. Frank Masano, what's on your radar? Well, you know,

875
00:51:17,480 --> 00:51:20,360
Speaker 1: a couple of things are on my radar. One watching

876
00:51:20,400 --> 00:51:24,719
Speaker 1: closely what happens in Congress here that is outside of

877
00:51:24,920 --> 00:51:28,759
Speaker 1: the budget bill and the COVID package and what will

878
00:51:28,800 --> 00:51:31,640
Speaker 1: it entail. And there are two major pieces of energy

879
00:51:31,760 --> 00:51:34,440
Speaker 1: legislation that, as you know, I watch, that are in

880
00:51:34,520 --> 00:51:39,759
Speaker 1: there that can be really a key foundation for what

881
00:51:39,800 --> 00:51:43,759
Speaker 1: we may see in a in a divided Congress next year. UM.

882
00:51:44,040 --> 00:51:47,759
Speaker 1: And that is an an energy innovation legislation that is

883
00:51:47,800 --> 00:51:50,680
Speaker 1: a big, big bill six plus pages or so that

884
00:51:51,000 --> 00:51:54,440
Speaker 1: talks about CCS and nuclear and other things UM. And

885
00:51:54,440 --> 00:51:57,880
Speaker 1: and and lots of efficiency um that and and and

886
00:51:57,880 --> 00:52:00,400
Speaker 1: and not just R and D. It's actually proud Jacks.

887
00:52:00,560 --> 00:52:04,880
Speaker 1: So UM. That's something that's likely to be in there maybe.

888
00:52:05,000 --> 00:52:09,280
Speaker 1: And then um also watching a big, huge climate victory

889
00:52:09,440 --> 00:52:12,880
Speaker 1: UM that Republicans and Democrats and industry and environmentalists are

890
00:52:12,920 --> 00:52:15,880
Speaker 1: working on together in phasing down h f c s.

891
00:52:16,160 --> 00:52:19,319
Speaker 1: And that's another thing that's ready to go and could

892
00:52:19,400 --> 00:52:22,520
Speaker 1: be passed, and so hopefully those things will be passed.

893
00:52:22,520 --> 00:52:26,640
Speaker 1: They'll set a foundation for what success can be in

894
00:52:27,000 --> 00:52:30,840
Speaker 1: u In Biden working with a Republican Senate and a

895
00:52:30,920 --> 00:52:34,160
Speaker 1: moderate House, and um, you know that's really what's one

896
00:52:34,200 --> 00:52:37,120
Speaker 1: of the big things that I'm watching right now. Yeah, yeah,

897
00:52:37,120 --> 00:52:39,000
Speaker 1: it's it's gonna be really interesting and just to see

898
00:52:39,040 --> 00:52:41,879
Speaker 1: what other pieces of legislation are able to to move

899
00:52:42,000 --> 00:52:45,600
Speaker 1: through as well. Um. I do want to note that

900
00:52:45,880 --> 00:52:49,760
Speaker 1: just the headline across the Bloomberg first word terminal alert

901
00:52:49,840 --> 00:52:52,280
Speaker 1: that just came through is Betsy Devas has extended student

902
00:52:52,360 --> 00:52:56,080
Speaker 1: loan for bearance until January thirty one, citing Politico again,

903
00:52:56,120 --> 00:52:59,640
Speaker 1: Betsy Devas has extended student loan for bearance until January

904
00:52:59,719 --> 00:53:02,520
Speaker 1: thirty and hopefully that applies to those parents plus loans

905
00:53:02,520 --> 00:53:08,719
Speaker 1: to cab because you know, it's really expensive. I want

906
00:53:08,719 --> 00:53:10,680
Speaker 1: to say things that I've been so good. I've gotten

907
00:53:10,719 --> 00:53:14,680
Speaker 1: through such a contentious twenty twenty without I don't want to.

908
00:53:15,320 --> 00:53:17,960
Speaker 1: My daughters graduated and she has a job finally, but

909
00:53:18,040 --> 00:53:21,760
Speaker 1: you know, I still had. So I'm just gonna keep

910
00:53:22,160 --> 00:53:26,080
Speaker 1: on being stoic and not saying the jokes that I

911
00:53:26,120 --> 00:53:29,360
Speaker 1: want to make because it's Friday and I made it

912
00:53:29,400 --> 00:53:32,400
Speaker 1: this far, Senator, what is on your radar? Well, I

913
00:53:32,440 --> 00:53:35,080
Speaker 1: just was gonna say, I'm I have a freshman in Georgetown,

914
00:53:35,080 --> 00:53:39,200
Speaker 1: so I feel the pain. But let me let me uh, Senator,

915
00:53:39,200 --> 00:53:40,800
Speaker 1: when you come back, we'll go to we'll go to

916
00:53:40,880 --> 00:53:44,240
Speaker 1: dog Tag Bakery, or we'll go to the tumbs. Go ahead, Senator,

917
00:53:44,880 --> 00:53:49,160
Speaker 1: I'm game. I'm game. All right, Washington, you heard Senator Mark.

918
00:53:49,440 --> 00:53:51,959
Speaker 1: I just headed to the tums. Go ahead. I'm there.

919
00:53:52,160 --> 00:53:53,960
Speaker 1: So this is the first thing I want to say.

920
00:53:54,040 --> 00:53:56,160
Speaker 1: What's all my radar screens? I gotta make sure I

921
00:53:56,320 --> 00:53:59,040
Speaker 1: listened carefully to what my wife says. What she's hinting

922
00:53:59,239 --> 00:54:03,000
Speaker 1: for her holiday season gifts. What are you going to

923
00:54:03,120 --> 00:54:06,400
Speaker 1: get careful? Well, actually, i'll tell you because I know

924
00:54:06,640 --> 00:54:09,880
Speaker 1: we'll be we'll be private about this. She kept. She

925
00:54:09,920 --> 00:54:13,239
Speaker 1: had some fine wine she tasted recently at some wine thing,

926
00:54:13,920 --> 00:54:18,400
Speaker 1: and I bought the case of it. And she doesn't

927
00:54:18,400 --> 00:54:21,000
Speaker 1: know that yet. So don't tell anyone any Earlstener, don't

928
00:54:21,040 --> 00:54:25,040
Speaker 1: tell anybody. Where's the kind of um. You know, I'm

929
00:54:25,040 --> 00:54:29,880
Speaker 1: not a big wine drinker. It was from California. I

930
00:54:29,880 --> 00:54:34,080
Speaker 1: just got it delivered today. And uh, you know they

931
00:54:34,160 --> 00:54:36,400
Speaker 1: asked me about the shipping costs because you know, Alaska

932
00:54:36,520 --> 00:54:39,600
Speaker 1: somehows a foreign country. But I said, at the price

933
00:54:39,680 --> 00:54:42,520
Speaker 1: I pay for this wine, it's irrelevant the shipping costs,

934
00:54:42,800 --> 00:54:47,160
Speaker 1: just the size of wine. What's on your radar this

935
00:54:47,400 --> 00:54:50,160
Speaker 1: Christine barad is cringing right now, go ahead, r EP,

936
00:54:50,360 --> 00:54:53,600
Speaker 1: go ahead. So the other things on my radar screen.

937
00:54:53,960 --> 00:54:56,600
Speaker 1: One I really the stament spill is on my radar screen.

938
00:54:56,640 --> 00:54:59,319
Speaker 1: I think, you know, these guys will be idiots if

939
00:54:59,360 --> 00:55:02,600
Speaker 1: they do not ask something that's meaningful and has impact

940
00:55:02,680 --> 00:55:05,279
Speaker 1: to the economy in a positive way, especially for the

941
00:55:05,360 --> 00:55:08,200
Speaker 1: small retail or small restaurant that the guys that are

942
00:55:08,280 --> 00:55:10,560
Speaker 1: filing the pinch every day. That's on my radar screen

943
00:55:10,640 --> 00:55:14,160
Speaker 1: every minute every day to watch and controls some of

944
00:55:14,160 --> 00:55:16,600
Speaker 1: my former colleagues to do the right thing. The other

945
00:55:16,640 --> 00:55:18,799
Speaker 1: thing that's on my radar screen for the beginning of

946
00:55:18,880 --> 00:55:22,120
Speaker 1: next year is I'm anxious. Trump talked about it for

947
00:55:22,120 --> 00:55:25,520
Speaker 1: four years. Uh, and now Biden has been talking about

948
00:55:25,560 --> 00:55:27,560
Speaker 1: during the campaign. Is who's going to do the real

949
00:55:27,640 --> 00:55:31,080
Speaker 1: infrastructure bill that actually rebuilds this country. You know that

950
00:55:31,320 --> 00:55:35,279
Speaker 1: is something that designed right both Democrats and Republicans can

951
00:55:35,280 --> 00:55:38,200
Speaker 1: get behind the business community get behind it, labor can

952
00:55:38,200 --> 00:55:41,320
Speaker 1: get behind it, and it will really create meaningful jobs.

953
00:55:41,360 --> 00:55:44,040
Speaker 1: But one thing I learned when I was mayor, if

954
00:55:44,080 --> 00:55:47,400
Speaker 1: you build the public infrastructure, you create the foundation for

955
00:55:47,520 --> 00:55:51,640
Speaker 1: larger private sector investment. And that's what I'm hoping for

956
00:55:51,760 --> 00:55:54,920
Speaker 1: and not get caught up in you know what I

957
00:55:54,960 --> 00:55:59,680
Speaker 1: would call kind of legislation that is more politics than meaningful.

958
00:55:59,800 --> 00:56:03,560
Speaker 1: And hope they focused truly on an infrastructure bill that

959
00:56:03,600 --> 00:56:06,319
Speaker 1: helps rebuild this country the right way and we can

960
00:56:06,360 --> 00:56:10,080
Speaker 1: put jobs that are meaningful, well paid jobs on the table.

961
00:56:10,160 --> 00:56:12,799
Speaker 1: And for the private sectors, they'll see a commitment by

962
00:56:12,800 --> 00:56:15,720
Speaker 1: the federal government and others that they're gonna invest in

963
00:56:15,719 --> 00:56:18,720
Speaker 1: infrastructure to rebuild this economy. Here's what's on my radar,

964
00:56:18,920 --> 00:56:21,440
Speaker 1: and this is not deep. So I apologize because I

965
00:56:21,440 --> 00:56:28,320
Speaker 1: feel like we we we had some ethos in this block. Avocados.

966
00:56:27,120 --> 00:56:32,720
Speaker 1: Avocados are the pandemic proof crop and lockdown health craze.

967
00:56:32,920 --> 00:56:36,439
Speaker 1: Health conscious consumers are eating avocados like never before during

968
00:56:36,440 --> 00:56:41,560
Speaker 1: the pandemic uh through the roof. Consumption for avocados jumped

969
00:56:41,640 --> 00:56:45,640
Speaker 1: twelve this year to a record one point for eight billion,

970
00:56:45,760 --> 00:56:49,640
Speaker 1: with the b pounds according to imported data. That doesn't

971
00:56:49,680 --> 00:56:51,840
Speaker 1: for me. Thanks for the panel, Frank, thank you, Senator.

972
00:56:51,880 --> 00:57:07,480
Speaker 1: I'm Kevin CURRELLI you're listening to Bloomberg Tower