1
00:00:00,080 --> 00:00:10,119
Speaker 1: Bloomberg Audio Studios, podcasts, radio news. You're listening to the

2
00:00:10,119 --> 00:00:13,880
Speaker 1: Bloomberg Balance of Power podcast. Catch us live weekdays at

3
00:00:13,920 --> 00:00:17,119
Speaker 1: noon and five pm Eastern on Apple Coarckley and Android

4
00:00:17,160 --> 00:00:20,560
Speaker 1: Auto with the Bloomberg Business App. Listen on demand wherever

5
00:00:20,600 --> 00:00:25,000
Speaker 1: you get your podcasts, or watch us live on YouTube.

6
00:00:25,400 --> 00:00:27,560
Speaker 2: I want to go first to Japan, where President Trump

7
00:00:27,600 --> 00:00:30,120
Speaker 2: is on the second to last leg of his trip

8
00:00:30,200 --> 00:00:33,080
Speaker 2: in Asia. The President met face to face with Japan's

9
00:00:33,080 --> 00:00:36,839
Speaker 2: new Prime Minister, Prime Minster Tokaichi in Tokyo, and the

10
00:00:36,840 --> 00:00:39,760
Speaker 2: two leaders emerge from that meeting talking an awful lot

11
00:00:39,760 --> 00:00:42,400
Speaker 2: about the relationship between the US and Japan and also

12
00:00:43,000 --> 00:00:45,000
Speaker 2: lavishing a lot of praise on one another.

13
00:00:45,080 --> 00:00:45,800
Speaker 3: Let's take a listen.

14
00:00:46,960 --> 00:00:48,600
Speaker 4: This woman is a winner.

15
00:00:48,640 --> 00:00:50,959
Speaker 5: So you know, we've become very close friends and all

16
00:00:50,960 --> 00:00:54,480
Speaker 5: of I said, because their stock market today at our

17
00:00:54,640 --> 00:00:58,920
Speaker 5: stock market today hit an all time high.

18
00:00:59,160 --> 00:01:01,640
Speaker 4: That means we're doing something right.

19
00:01:03,200 --> 00:01:05,160
Speaker 2: You see the thumbs up there from the Prime Minister

20
00:01:05,200 --> 00:01:08,160
Speaker 2: there on the USS George Washington, where the President was speaking.

21
00:01:08,600 --> 00:01:10,480
Speaker 2: I should say there was a gift exchange that took

22
00:01:10,520 --> 00:01:12,520
Speaker 2: place over the course of the day. The President prepared

23
00:01:12,560 --> 00:01:15,480
Speaker 2: hats that said Japan is back black ball caps. He

24
00:01:15,520 --> 00:01:18,800
Speaker 2: gifted those to the Prime minister. She gave him a

25
00:01:18,800 --> 00:01:21,080
Speaker 2: putter that belonged to Shinzo Abie, the former prime minister

26
00:01:21,080 --> 00:01:23,560
Speaker 2: who was assassinated, A close friend, the President said of

27
00:01:23,640 --> 00:01:27,360
Speaker 2: Donald Trump, and also a nomination for the Nobel Peace Prize.

28
00:01:27,480 --> 00:01:29,920
Speaker 2: My colleague Tyler Kendall has been burning the midnight oil.

29
00:01:30,000 --> 00:01:33,240
Speaker 2: She's in Tokyo covering the President's trip. Tyler guests up

30
00:01:33,240 --> 00:01:35,000
Speaker 2: to speed here. I mentioned those gifts. I mentioned the

31
00:01:35,000 --> 00:01:38,160
Speaker 2: obvious familiarity that was developed between these two leaders over

32
00:01:38,200 --> 00:01:41,120
Speaker 2: the course of the meetings and time they spent together. Today,

33
00:01:41,800 --> 00:01:44,240
Speaker 2: what came out of this intangible terms, Yes, they now

34
00:01:44,240 --> 00:01:46,600
Speaker 2: have kind of a path forward for talking about real

35
00:01:46,640 --> 00:01:48,880
Speaker 2: issues when it comes to trade, when it comes to

36
00:01:48,920 --> 00:01:49,560
Speaker 2: business issues.

37
00:01:49,600 --> 00:01:51,520
Speaker 3: What do we learn from these two leaders today.

38
00:01:53,440 --> 00:01:56,400
Speaker 6: Well, David, the central theme today here in Tokyo was

39
00:01:56,440 --> 00:02:00,640
Speaker 6: bolstering the US Japan alliance, but the underlying appeared to

40
00:02:00,640 --> 00:02:03,400
Speaker 6: be countering China. Just look at the headlines that we

41
00:02:03,440 --> 00:02:06,920
Speaker 6: received after that expanded bilateral meeting between President Trump and

42
00:02:06,960 --> 00:02:10,560
Speaker 6: the new Japanese Prime Minister. One is that President Trump

43
00:02:10,560 --> 00:02:13,080
Speaker 6: confirmed that Japan is going to boost its imports of

44
00:02:13,200 --> 00:02:16,600
Speaker 6: US military supplies. The second is that the countries entered

45
00:02:16,639 --> 00:02:20,040
Speaker 6: into an agreement on critical minerals. It appears to be

46
00:02:20,080 --> 00:02:22,680
Speaker 6: some sort of cooperation pack that we're still waiting some

47
00:02:22,760 --> 00:02:26,520
Speaker 6: additional details then there. And then also they signed a

48
00:02:26,600 --> 00:02:30,200
Speaker 6: memorandum of understanding when it comes to shipbuilding, another industry

49
00:02:30,200 --> 00:02:33,080
Speaker 6: that we know China really has a grip on. So

50
00:02:33,160 --> 00:02:35,480
Speaker 6: that was sort of the underlying theme here, trying to

51
00:02:35,480 --> 00:02:38,160
Speaker 6: bolster up against China. We even saw this and some

52
00:02:38,240 --> 00:02:40,600
Speaker 6: of those investments that came out of today as President

53
00:02:40,639 --> 00:02:43,959
Speaker 6: Trump hosted a reception with business leaders at the US

54
00:02:44,040 --> 00:02:48,080
Speaker 6: Ambassador to Japan's residence here in Tokyo. The common theme

55
00:02:48,120 --> 00:02:51,520
Speaker 6: among all the attendees there tonight, from Apple's Tim Cook

56
00:02:51,560 --> 00:02:54,800
Speaker 6: to Androll's Palmer Lucky, was that they all represent those

57
00:02:54,800 --> 00:02:57,880
Speaker 6: industries that the US has deemed absolutely critical when it

58
00:02:57,919 --> 00:03:00,480
Speaker 6: comes to competition with China. Now, I do want to

59
00:03:00,520 --> 00:03:04,560
Speaker 6: point out that Japan is actually already the top investor

60
00:03:04,639 --> 00:03:07,520
Speaker 6: foreign investor in the United States. Government data shows us

61
00:03:07,639 --> 00:03:12,160
Speaker 6: that Japan invested more than seven hundred and fifty billion

62
00:03:12,360 --> 00:03:15,400
Speaker 6: dollars in the US last year alone. Now we know

63
00:03:15,440 --> 00:03:17,760
Speaker 6: that they're trying to make good on this pledge for

64
00:03:17,840 --> 00:03:21,880
Speaker 6: this five hundred and fifty billion dollar investment fund. That is,

65
00:03:21,919 --> 00:03:24,120
Speaker 6: of course, as you well know, part of the deal

66
00:03:24,200 --> 00:03:26,760
Speaker 6: with the US, to receive that more preferential tiar a

67
00:03:26,840 --> 00:03:28,160
Speaker 6: freight of fifteen percent.

68
00:03:30,040 --> 00:03:32,240
Speaker 2: Tyler, I'm curious what happens next on this trip, if

69
00:03:32,280 --> 00:03:34,120
Speaker 2: there's any likelihood that you're going to be stopping in

70
00:03:34,120 --> 00:03:37,600
Speaker 2: Pyongyang on the way to Soul or on the way

71
00:03:37,640 --> 00:03:39,720
Speaker 2: beyond it. The President had teas that he was looking

72
00:03:39,720 --> 00:03:42,000
Speaker 2: perhaps to meet with the North Korean leader. What do

73
00:03:42,000 --> 00:03:43,520
Speaker 2: we know of what's likely to unfold here on the

74
00:03:43,560 --> 00:03:44,480
Speaker 2: last leg of this trip.

75
00:03:46,520 --> 00:03:49,040
Speaker 6: Well, it doesn't seem like the latter is going to happen,

76
00:03:49,080 --> 00:03:51,080
Speaker 6: But you're right. President Trump did allude to it, but

77
00:03:51,120 --> 00:03:53,400
Speaker 6: then ended up telling reporters that he didn't think he

78
00:03:53,400 --> 00:03:55,560
Speaker 6: would have time, but he does welcome a meeting with

79
00:03:55,760 --> 00:03:59,000
Speaker 6: the North Korean leader when the time is right. We

80
00:03:59,080 --> 00:04:01,880
Speaker 6: are looking ahead, though, to two other critically important meetings.

81
00:04:01,880 --> 00:04:04,560
Speaker 6: One of course, is with South Korea's president, as that

82
00:04:04,640 --> 00:04:07,360
Speaker 6: country is still trying to ink the finalized version of

83
00:04:07,480 --> 00:04:10,280
Speaker 6: their trade deal, which would also see a mirrored fifteen

84
00:04:10,320 --> 00:04:13,040
Speaker 6: percent a tariff rate much like Japan. It would also

85
00:04:13,120 --> 00:04:15,920
Speaker 6: extend to autos, which we know is really critical for

86
00:04:16,080 --> 00:04:20,760
Speaker 6: that country. President Trump also teasing earlier that he set

87
00:04:20,800 --> 00:04:22,960
Speaker 6: to meet with the Nvidia CEO, Jensen Wang, on the

88
00:04:23,000 --> 00:04:26,960
Speaker 6: sidelines of the APEC CEO summit that's also happening tomorrow

89
00:04:27,000 --> 00:04:29,400
Speaker 6: in South Korea. But then we are really just beating

90
00:04:29,440 --> 00:04:31,479
Speaker 6: the drama ahead to Thursday, when we were going to

91
00:04:31,480 --> 00:04:34,440
Speaker 6: have this highly anticipated sit down between President Trump and

92
00:04:34,520 --> 00:04:35,960
Speaker 6: Chinese President Jijing Pink.

93
00:04:37,000 --> 00:04:38,760
Speaker 2: I think safe to say Jensen Kwang will walk off

94
00:04:38,839 --> 00:04:40,800
Speaker 2: that stage at the Convention Center here in Washington, make

95
00:04:40,839 --> 00:04:43,000
Speaker 2: his way to a plane to get to that meeting

96
00:04:43,200 --> 00:04:45,279
Speaker 2: in time. Tyler Kendall, thank you very much for the reporting.

97
00:04:45,320 --> 00:04:47,200
Speaker 2: We look forward to more of it as the President's

98
00:04:47,200 --> 00:04:50,080
Speaker 2: trip continues. I want to stick with defense spending if

99
00:04:50,080 --> 00:04:51,800
Speaker 2: we could here, And as Tyler was mentioning, that's been

100
00:04:51,839 --> 00:04:53,800
Speaker 2: really the substance of a lot of the conversations the

101
00:04:53,839 --> 00:04:55,760
Speaker 2: President has been having on this trip to Asia. It's

102
00:04:55,800 --> 00:04:58,240
Speaker 2: a theme he returns to time and time again when

103
00:04:58,240 --> 00:05:00,560
Speaker 2: he meets with foreign leaders at some that he thinks

104
00:05:00,600 --> 00:05:03,480
Speaker 2: is incredibly important that foreign nations spend more on their

105
00:05:03,520 --> 00:05:06,400
Speaker 2: own defense. It is part of my next guest's job

106
00:05:06,480 --> 00:05:09,039
Speaker 2: to convey that to NATO allies, in particular, my next

107
00:05:09,040 --> 00:05:12,400
Speaker 2: guest Matthew Whittaker, the US Ambassador to NATO, who joins

108
00:05:12,480 --> 00:05:15,560
Speaker 2: us now from Brussels, where of course the alliance is headquartered.

109
00:05:16,120 --> 00:05:18,560
Speaker 2: Ambassard Whittaker, let me start by asking you just sort

110
00:05:18,560 --> 00:05:20,600
Speaker 2: of how there's a common thread between what we're seeing

111
00:05:20,640 --> 00:05:23,599
Speaker 2: in Asia and again that message of increased defense spending

112
00:05:23,600 --> 00:05:26,719
Speaker 2: that you're conveying to European allies. How is this part

113
00:05:26,720 --> 00:05:29,560
Speaker 2: and parcel of a larger kind of foreign policy perspective

114
00:05:29,560 --> 00:05:30,719
Speaker 2: that the president has.

115
00:05:31,480 --> 00:05:34,280
Speaker 7: Yeah, well, first, it started with Donald Trump being elected

116
00:05:34,440 --> 00:05:38,600
Speaker 7: last November and saying early on after his election that

117
00:05:39,480 --> 00:05:42,040
Speaker 7: all of our allies, especially our NATO allies, needed to

118
00:05:42,080 --> 00:05:45,320
Speaker 7: boost their spending the five percent of their gross domestic product.

119
00:05:45,360 --> 00:05:48,520
Speaker 7: And by what we accomplished in June of this year

120
00:05:48,640 --> 00:05:52,200
Speaker 7: at the NATO summit, we kind of set that as

121
00:05:52,200 --> 00:05:55,800
Speaker 7: the benchmark now worldwide. I'm not sure we fully anticipated that.

122
00:05:55,839 --> 00:05:58,560
Speaker 7: I'm sure Donald Trump thought about it, but now that

123
00:05:58,680 --> 00:06:01,680
Speaker 7: is the benchmark sent on defense spending. And you know,

124
00:06:01,760 --> 00:06:03,880
Speaker 7: the nice thing about the NATO Alliance is it's the

125
00:06:03,920 --> 00:06:06,760
Speaker 7: thirty two countries. Certainly that are members, but we have

126
00:06:06,880 --> 00:06:10,760
Speaker 7: partners all over the world, including our Indo Pacific partners Japan,

127
00:06:10,920 --> 00:06:15,560
Speaker 7: South Korea, Australia, and New Zealand, and they are great

128
00:06:15,960 --> 00:06:19,159
Speaker 7: on the interoperability, on the standards that we set for

129
00:06:19,320 --> 00:06:24,400
Speaker 7: munitions and weapons, and so it's sort of being inculcated.

130
00:06:23,720 --> 00:06:25,320
Speaker 4: Across all US allies.

131
00:06:25,320 --> 00:06:28,000
Speaker 7: And this is really good news not only for the

132
00:06:28,040 --> 00:06:30,360
Speaker 7: strength of the United States and our alliances, but it's

133
00:06:30,360 --> 00:06:36,200
Speaker 7: also good for our weapons and defense industry. But it's

134
00:06:36,240 --> 00:06:38,839
Speaker 7: also good for all of our allies because that strength

135
00:06:39,200 --> 00:06:41,159
Speaker 7: is going to allow all of us to project power,

136
00:06:41,440 --> 00:06:45,160
Speaker 7: you know, and obviously address any threats, whether it's you know,

137
00:06:45,240 --> 00:06:48,480
Speaker 7: the Chinese threat, whether it's the Russian threat, or whether

138
00:06:48,520 --> 00:06:51,240
Speaker 7: it's other threats that are maybe not as symmetrical.

139
00:06:52,839 --> 00:06:55,320
Speaker 2: Mister bastardt the last meeting of the NATO Defense Ministers,

140
00:06:55,360 --> 00:06:57,840
Speaker 2: I heard you fly to some big pledges for Ukraine

141
00:06:57,880 --> 00:07:00,920
Speaker 2: to purchase US weapons. Could you tell how much money

142
00:07:01,279 --> 00:07:02,880
Speaker 2: we can expect to see spend on top of the

143
00:07:02,880 --> 00:07:05,159
Speaker 2: two billion dollars that Ukraine managed to secure by the

144
00:07:05,240 --> 00:07:07,120
Speaker 2: end of last month, by the end of September.

145
00:07:08,080 --> 00:07:08,960
Speaker 4: Yeah, Well, so.

146
00:07:09,000 --> 00:07:11,680
Speaker 7: Right now we have set up a system where the

147
00:07:11,720 --> 00:07:14,880
Speaker 7: commitments kind of are rolling forward. You know, we have

148
00:07:15,080 --> 00:07:20,280
Speaker 7: probably another two billion dollars or more to bring in

149
00:07:19,960 --> 00:07:22,800
Speaker 7: in the next several months, and we fully expect that

150
00:07:22,800 --> 00:07:25,280
Speaker 7: that will be done here very soon. We have a

151
00:07:25,320 --> 00:07:29,280
Speaker 7: Foreign Minister's meeting at the beginning of December which will

152
00:07:29,360 --> 00:07:32,440
Speaker 7: most likely kind of top that off. And then as

153
00:07:32,480 --> 00:07:35,160
Speaker 7: we get into twenty twenty six, the key is sustainment.

154
00:07:35,200 --> 00:07:39,080
Speaker 7: The key is the twelve or fifteen billion dollars that

155
00:07:39,160 --> 00:07:44,640
Speaker 7: are needed to buy the critical armaments needed by Ukraine

156
00:07:45,080 --> 00:07:48,600
Speaker 7: to defend themselves and to continue this fight at the

157
00:07:48,640 --> 00:07:52,160
Speaker 7: front line is going to be raised. It's going to

158
00:07:52,200 --> 00:07:55,680
Speaker 7: be US weapons, and you know, I'm confident about that,

159
00:07:56,040 --> 00:07:59,160
Speaker 7: and I think this is another example of Europe stepping up,

160
00:07:59,240 --> 00:08:02,360
Speaker 7: of our NATOI allies here on the continent stepping up

161
00:08:02,400 --> 00:08:06,640
Speaker 7: and supporting Ukraine in the defense ultimately of the European continent.

162
00:08:06,720 --> 00:08:10,600
Speaker 7: And it's you know, we're watching very closely. Secretary of

163
00:08:10,600 --> 00:08:12,840
Speaker 7: Headsets was very clear about that that you know, President

164
00:08:12,880 --> 00:08:15,360
Speaker 7: Trump is interested in the success of this, since he

165
00:08:15,400 --> 00:08:17,920
Speaker 7: announced it over the summer when I was there with

166
00:08:18,000 --> 00:08:21,360
Speaker 7: him in the White House, and so a good news story.

167
00:08:21,400 --> 00:08:23,360
Speaker 7: But you know, our work has never done, because this

168
00:08:23,840 --> 00:08:26,600
Speaker 7: war continues. And that's I think the most important thing

169
00:08:26,920 --> 00:08:29,400
Speaker 7: that President Trump has impressed on all of us and

170
00:08:29,760 --> 00:08:32,520
Speaker 7: including our allies, is this war needs to end and

171
00:08:32,600 --> 00:08:35,679
Speaker 7: Russia needs to come to the table and resolve.

172
00:08:35,679 --> 00:08:37,440
Speaker 4: This dispute, resolved this war.

173
00:08:37,720 --> 00:08:40,880
Speaker 7: They've made no progress in the last three plus years

174
00:08:41,200 --> 00:08:45,400
Speaker 7: of fighting that they still only control about twenty percent

175
00:08:45,679 --> 00:08:49,440
Speaker 7: of Ukraine, and they're not going to accomplish much more

176
00:08:49,760 --> 00:08:51,880
Speaker 7: even if they continue to fight for years, and so

177
00:08:51,920 --> 00:08:53,760
Speaker 7: the time is now to end this war.

178
00:08:55,160 --> 00:08:56,800
Speaker 2: It was a couple of days ago that the Treasure

179
00:08:56,800 --> 00:08:59,319
Speaker 2: Department announced these new sanctions on Russian oil producers, and

180
00:08:59,320 --> 00:09:01,160
Speaker 2: we've heard the press and say publicly he hopes those

181
00:09:01,200 --> 00:09:04,280
Speaker 2: sanctions won't be in place for very long. Given that,

182
00:09:04,320 --> 00:09:07,680
Speaker 2: what can you tell us about how vigorously the US

183
00:09:07,760 --> 00:09:09,240
Speaker 2: is going to defend those those sanctions.

184
00:09:10,800 --> 00:09:13,720
Speaker 7: Oh well, I mean, obviously we have implemented those sanctions,

185
00:09:13,720 --> 00:09:17,120
Speaker 7: we plan to enforce them. I think the President's point

186
00:09:17,280 --> 00:09:20,160
Speaker 7: is very clear is that we expect now with these

187
00:09:20,800 --> 00:09:24,760
Speaker 7: enormous sanctions that have been placed on Luke Oil and Rothnet,

188
00:09:24,840 --> 00:09:30,320
Speaker 7: that this will maybe be the thing to unlock President

189
00:09:30,320 --> 00:09:34,120
Speaker 7: putin coming to the table and ending this war and

190
00:09:34,559 --> 00:09:36,760
Speaker 7: at least entering into a ceasefire, so we can you

191
00:09:36,920 --> 00:09:40,320
Speaker 7: negotiate a final resolution. But remember, as I've said before,

192
00:09:40,440 --> 00:09:41,880
Speaker 7: president Trump holds all the cards.

193
00:09:41,920 --> 00:09:43,800
Speaker 4: This is just one card that he's playing. There are

194
00:09:43,840 --> 00:09:44,880
Speaker 4: many more. I was just.

195
00:09:45,120 --> 00:09:49,800
Speaker 7: Today with CIA Director Ratcliffe here in Brussels, and we

196
00:09:49,840 --> 00:09:52,000
Speaker 7: talked about a lot of other options that the president

197
00:09:52,120 --> 00:09:55,520
Speaker 7: has available to him, and you know, President Trump is

198
00:09:55,559 --> 00:09:59,719
Speaker 7: going to play those as appropriate. But again, all we

199
00:09:59,760 --> 00:10:02,400
Speaker 7: want is this war to end and the killing to end,

200
00:10:02,720 --> 00:10:06,439
Speaker 7: and the death and destruction and again have peace and prosperity.

201
00:10:06,760 --> 00:10:09,520
Speaker 7: We have a peacemaker as president and he's going to

202
00:10:09,520 --> 00:10:12,400
Speaker 7: continue to work on this until he unlocks the right

203
00:10:12,440 --> 00:10:15,800
Speaker 7: combination of leverage to get Vladimir Putin to agree to

204
00:10:15,920 --> 00:10:16,320
Speaker 7: end the war.

205
00:10:17,800 --> 00:10:20,040
Speaker 2: You mentioned those cards, and I imagine a big one

206
00:10:20,160 --> 00:10:22,720
Speaker 2: are these Tomahawk missiles. And you'll forgive me, but I

207
00:10:22,760 --> 00:10:24,440
Speaker 2: just don't know what the state of play is on

208
00:10:24,480 --> 00:10:25,760
Speaker 2: the US being willing to give.

209
00:10:25,600 --> 00:10:26,600
Speaker 3: Those to Ukraine.

210
00:10:26,679 --> 00:10:29,560
Speaker 2: Now, what's your sense of how the president plans to

211
00:10:29,600 --> 00:10:30,360
Speaker 2: deploy those or not?

212
00:10:31,600 --> 00:10:35,520
Speaker 7: Yeah, well, obviously that is ultimately President Trump's decision. You know,

213
00:10:35,600 --> 00:10:39,160
Speaker 7: deep strike capabilities are not just available from the United States.

214
00:10:39,320 --> 00:10:42,559
Speaker 7: There are other countries that are helping Ukraine that can

215
00:10:42,600 --> 00:10:46,040
Speaker 7: provide those to be used on the battlefield, and we've

216
00:10:46,040 --> 00:10:48,960
Speaker 7: already seen Ukraine developing its own whether it's long range

217
00:10:49,040 --> 00:10:53,680
Speaker 7: drones or whether it's their Flamingo missile. There is all

218
00:10:53,720 --> 00:10:58,600
Speaker 7: sorts of ways that long distance strikes can be brought

219
00:10:59,080 --> 00:11:03,760
Speaker 7: to the oil and gas infrastructure of Russia and their

220
00:11:03,800 --> 00:11:08,079
Speaker 7: weapons and armaments manufacturing, no matter how far it may

221
00:11:08,120 --> 00:11:10,040
Speaker 7: be behind the main line of contact.

222
00:11:10,040 --> 00:11:12,120
Speaker 4: And so you know, we're going to obviously.

223
00:11:11,800 --> 00:11:14,240
Speaker 7: Keep some of those things close to the vast President

224
00:11:14,280 --> 00:11:17,880
Speaker 7: Trump is going to continue to look at whether tomahawks

225
00:11:17,920 --> 00:11:20,959
Speaker 7: are necessary or whether there are other opportunities for other

226
00:11:21,000 --> 00:11:23,000
Speaker 7: countries to provide long range strikes.

227
00:11:24,080 --> 00:11:26,480
Speaker 2: We see the European Union struggling to kind of come

228
00:11:26,480 --> 00:11:28,720
Speaker 2: to an agreement on the use of frozen Russian Central

229
00:11:28,760 --> 00:11:32,080
Speaker 2: Bank assets to back alone to Ukraine, and I wonderstand

230
00:11:32,120 --> 00:11:34,000
Speaker 2: what the US is perspective on that is, is you have

231
00:11:34,040 --> 00:11:38,160
Speaker 2: conversations with European diplomats, Is the US ready to kind

232
00:11:38,200 --> 00:11:41,600
Speaker 2: of move in tandem with European nations to use those

233
00:11:41,640 --> 00:11:44,840
Speaker 2: fres frozen Russian Central Bank assets to back alone to Ukraine.

234
00:11:45,480 --> 00:11:48,800
Speaker 7: Yeah, well, what we really want is our European and

235
00:11:48,880 --> 00:11:51,720
Speaker 7: NATO allies to move at the same time as the

236
00:11:51,800 --> 00:11:52,480
Speaker 7: United States.

237
00:11:52,679 --> 00:11:56,720
Speaker 4: In this case, we'd like the EU to move first.

238
00:11:56,760 --> 00:11:59,640
Speaker 7: I mean, there's one hundred and forty billion dollars that

239
00:11:59,720 --> 00:12:03,760
Speaker 7: could be used to help Ukraine, whether it's on the

240
00:12:03,800 --> 00:12:06,480
Speaker 7: battlefield or whether it's with their economy and with other

241
00:12:06,960 --> 00:12:09,480
Speaker 7: needs that they have as a country. But you know,

242
00:12:09,640 --> 00:12:12,200
Speaker 7: this is an opportunity, really, and we've been encouraging the

243
00:12:12,200 --> 00:12:16,160
Speaker 7: EU to make this move. We're disappointed that they didn't

244
00:12:16,200 --> 00:12:18,640
Speaker 7: at this last meeting, but there's another meeting coming up

245
00:12:19,120 --> 00:12:20,840
Speaker 7: in about a month where I think they'll have an

246
00:12:20,880 --> 00:12:24,720
Speaker 7: opportunity And they're just my observations from you know, here

247
00:12:24,720 --> 00:12:25,280
Speaker 7: in Brussels.

248
00:12:25,320 --> 00:12:26,520
Speaker 4: It's across town.

249
00:12:26,960 --> 00:12:29,440
Speaker 7: But is that they continue to try to make sure

250
00:12:29,480 --> 00:12:33,760
Speaker 7: that they have all their pieces and parts lined up

251
00:12:33,800 --> 00:12:37,479
Speaker 7: so that they can feel confident to make this move. Obviously, Belgium,

252
00:12:37,679 --> 00:12:40,200
Speaker 7: where I'm sitting right now, has some concerns, but I

253
00:12:40,200 --> 00:12:43,199
Speaker 7: think those will ultimately be resolved, and this would be

254
00:12:43,240 --> 00:12:48,760
Speaker 7: another opportunity to bring Russia to the table to negotiate

255
00:12:48,840 --> 00:12:50,240
Speaker 7: and to resolve and end this war.

256
00:12:51,760 --> 00:12:53,120
Speaker 2: Got about a minute left, and I want to ask

257
00:12:53,120 --> 00:12:54,840
Speaker 2: you about the news that just broke that Prime Minister

258
00:12:54,880 --> 00:12:58,000
Speaker 2: net Yahu Israel has authorized powerful strikes on Gaza and

259
00:12:58,040 --> 00:13:00,880
Speaker 2: certainly calls into question the intent gy of the ceasefire

260
00:13:00,920 --> 00:13:02,760
Speaker 2: that's been in place there. Of course, this isn't your

261
00:13:03,000 --> 00:13:05,400
Speaker 2: remit specifically, but it does play into kind of foreign

262
00:13:05,480 --> 00:13:09,600
Speaker 2: policy and international politics more generally. How are you thinking

263
00:13:09,600 --> 00:13:11,760
Speaker 2: about the path forward here, the fragility of that ceasefire

264
00:13:11,760 --> 00:13:13,360
Speaker 2: and what it means for stability in the region.

265
00:13:14,600 --> 00:13:19,280
Speaker 7: Yeah, well, we obviously were very proud that President Trump

266
00:13:19,320 --> 00:13:22,640
Speaker 7: was able to make this historic ceasefire. Always knew that

267
00:13:22,720 --> 00:13:27,280
Speaker 7: it was going to be fragile, always knew that Hamas

268
00:13:26,960 --> 00:13:30,480
Speaker 7: has been a problem and could continue to be a problem.

269
00:13:30,600 --> 00:13:32,880
Speaker 7: And we'll just have to watch it, you know. I

270
00:13:32,960 --> 00:13:35,320
Speaker 7: know that one of the things that we were able

271
00:13:35,360 --> 00:13:38,160
Speaker 7: to do in these negotiations was bring a lot of

272
00:13:38,200 --> 00:13:41,160
Speaker 7: the Muslim world, a lot of the Middle East and

273
00:13:41,800 --> 00:13:46,319
Speaker 7: the Gulf countries together to put pressure on Hamas to

274
00:13:47,120 --> 00:13:50,480
Speaker 7: enter into this We got all the living hostages were

275
00:13:50,520 --> 00:13:55,400
Speaker 7: returned home, and that was obviously very important moment in

276
00:13:55,440 --> 00:13:58,240
Speaker 7: this dispute and this war. But we'll just have to

277
00:13:58,280 --> 00:14:01,600
Speaker 7: watch it. I think you know, the people of Gaza

278
00:14:01,720 --> 00:14:04,600
Speaker 7: want piece. It's only Hamas that is the problem. And

279
00:14:04,679 --> 00:14:07,360
Speaker 7: so you know, Israel has certainly a right to defend

280
00:14:07,400 --> 00:14:11,360
Speaker 7: itself and we'll just have to see what additional pressure

281
00:14:11,520 --> 00:14:16,839
Speaker 7: and additional opportunities the world can bring to make sure

282
00:14:16,880 --> 00:14:20,520
Speaker 7: that Hamas is not hostile and doesn't continue to, you know,

283
00:14:20,920 --> 00:14:23,320
Speaker 7: wreak havoc in the Gaza strip.

284
00:14:24,640 --> 00:14:26,360
Speaker 2: Mister bastard, thank you very much for the time, Really

285
00:14:26,360 --> 00:14:28,880
Speaker 2: appreciate it. That's Ambassador Matthew Whittaker, the US Ambassads and

286
00:14:28,960 --> 00:14:32,400
Speaker 2: NATO joining us from Brussels on this Tuesday amid a

287
00:14:32,440 --> 00:14:36,120
Speaker 2: swirl of international headlines around the world, in Asia, in

288
00:14:36,160 --> 00:14:37,040
Speaker 2: the Middle East as well.

289
00:14:37,040 --> 00:14:37,800
Speaker 3: Appreciate his time.

290
00:14:37,840 --> 00:14:40,160
Speaker 2: Of course, he's the former Acting Attorney General of the

291
00:14:40,240 --> 00:14:42,000
Speaker 2: United States as well. Much more to come here as

292
00:14:42,000 --> 00:14:44,720
Speaker 2: we chart the path a Furri Kane, Melissa. I'm Bloomberg

293
00:14:44,720 --> 00:14:46,240
Speaker 2: Television and Bloomberg Radio.

294
00:14:51,200 --> 00:14:54,720
Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch

295
00:14:54,760 --> 00:14:57,840
Speaker 1: us live weekdays at noon and five pm Eastern on

296
00:14:57,960 --> 00:15:01,160
Speaker 1: Apple Cocklay and Android Auto with the bloom Burg Business Up.

297
00:15:01,240 --> 00:15:04,240
Speaker 1: You can also listen live on Amazon Alexa from our

298
00:15:04,280 --> 00:15:05,600
Speaker 1: flagship New York station.

299
00:15:06,160 --> 00:15:09,080
Speaker 3: Just say Alexa played Bloomberg eleven thirty.

300
00:15:10,120 --> 00:15:12,120
Speaker 2: David Gerray in for Joe Matthew and Kayley Lines here

301
00:15:12,160 --> 00:15:14,480
Speaker 2: in Washington, DC, where on day twenty eight of this

302
00:15:14,560 --> 00:15:17,600
Speaker 2: government shutdown, we continue to look for signs that there

303
00:15:17,680 --> 00:15:20,480
Speaker 2: is maybe an off ramp somewhere, some sign that there.

304
00:15:20,400 --> 00:15:23,560
Speaker 3: Could be some pathway to resolution. We have Vice President JD.

305
00:15:23,680 --> 00:15:25,600
Speaker 2: Vance scheduled to be on Capitol Hill to meet with

306
00:15:25,640 --> 00:15:29,000
Speaker 2: Senate Republicans today. Of course, on November the first, some

307
00:15:29,160 --> 00:15:32,480
Speaker 2: forty million Americans slated to lose their benefits, their snap benefits.

308
00:15:32,760 --> 00:15:35,400
Speaker 2: That could be a pressure point, perhaps could get conquests

309
00:15:35,440 --> 00:15:38,080
Speaker 2: to move into action. Mecanscullar joins me now on set.

310
00:15:38,080 --> 00:15:40,200
Speaker 2: She's our Congression editor here at Bloomberg News. And I'm

311
00:15:40,240 --> 00:15:42,640
Speaker 2: curious or as you look at this terrain, look at

312
00:15:42,640 --> 00:15:45,640
Speaker 2: the status of this shutdown now in the fifth week,

313
00:15:46,280 --> 00:15:48,480
Speaker 2: are there any indications that the terrain is shifting in

314
00:15:48,480 --> 00:15:48,880
Speaker 2: any way.

315
00:15:49,120 --> 00:15:52,680
Speaker 8: So yesterday, when the largest union of federal workers came

316
00:15:52,720 --> 00:15:55,800
Speaker 8: out and really put pressure on Democrats, urging them to

317
00:15:55,880 --> 00:16:00,200
Speaker 8: essentially pass something at least resembling the Republican past, you know,

318
00:16:00,240 --> 00:16:01,480
Speaker 8: stopgap spending bill.

319
00:16:01,440 --> 00:16:03,040
Speaker 3: A clean CR A clean CR.

320
00:16:03,280 --> 00:16:06,240
Speaker 8: You know, I thought maybe that would budge things a

321
00:16:06,240 --> 00:16:10,000
Speaker 8: little bit. It did not. As of last night, we

322
00:16:10,040 --> 00:16:14,600
Speaker 8: saw Senate Democrats really remaining resolute, including Senate Democrats in

323
00:16:14,640 --> 00:16:17,760
Speaker 8: this area, those who represent Maryland and Virginia, who have,

324
00:16:18,160 --> 00:16:20,400
Speaker 8: you know, some of the largest numbers of federal employees

325
00:16:20,440 --> 00:16:22,479
Speaker 8: who work in their districts and states.

326
00:16:22,840 --> 00:16:25,160
Speaker 2: What is the quality of conversations so much as there

327
00:16:25,200 --> 00:16:27,120
Speaker 2: is a converse that you mentioned the Senate Democrats, are

328
00:16:27,120 --> 00:16:30,080
Speaker 2: they talking to House Democrats? Is there any kind of

329
00:16:30,080 --> 00:16:32,640
Speaker 2: inter party communication happening on Capitol Hill right now?

330
00:16:32,720 --> 00:16:36,680
Speaker 8: So there is some intra party communication happening, but it

331
00:16:36,720 --> 00:16:39,120
Speaker 8: is at a lower level. It is certainly not involving

332
00:16:39,200 --> 00:16:44,400
Speaker 8: the president or congressional leaders. Yesterday, Senator Murkowski, a moderate

333
00:16:44,440 --> 00:16:48,520
Speaker 8: Republican from Alaska, went to the floor and demanded higher

334
00:16:48,640 --> 00:16:51,840
Speaker 8: level bipartisan talks to end the shutdown.

335
00:16:52,320 --> 00:16:54,080
Speaker 3: But those have not happened.

336
00:16:54,120 --> 00:16:57,600
Speaker 8: And remember, the House isn't even in session, so they

337
00:16:57,640 --> 00:17:00,400
Speaker 8: are not in Washington aside from some leaders and some

338
00:17:00,440 --> 00:17:03,200
Speaker 8: Democrats have been sticking around, but they're not in the chamber.

339
00:17:03,240 --> 00:17:04,240
Speaker 8: They're not taking votes.

340
00:17:04,800 --> 00:17:07,560
Speaker 2: Lastly, what is your assessment of how seismic the impact

341
00:17:07,560 --> 00:17:09,280
Speaker 2: that's going to be when these SNAP benefits are no

342
00:17:09,320 --> 00:17:11,920
Speaker 2: longer funded. As I mentioned, more than forty million Americans

343
00:17:11,960 --> 00:17:15,119
Speaker 2: rely on them. How are lawmakers thinking about the effect

344
00:17:15,119 --> 00:17:17,119
Speaker 2: that'll have, Yes on their constituents, But on this kind

345
00:17:17,119 --> 00:17:19,080
Speaker 2: of political narrative that's taken hold here in.

346
00:17:19,160 --> 00:17:23,480
Speaker 8: Washington, Well, it's certainly a huge forcing function and one

347
00:17:23,560 --> 00:17:27,719
Speaker 8: that Democrats say that the administration can move funds to

348
00:17:27,760 --> 00:17:31,080
Speaker 8: cover these bills, and there's certainly a fight over that

349
00:17:31,320 --> 00:17:33,800
Speaker 8: right now. They say that this is not necessary, that

350
00:17:33,880 --> 00:17:36,879
Speaker 8: even if the shutdown persists past Saturday, which is the

351
00:17:36,920 --> 00:17:40,520
Speaker 8: day that the SNAP benefits, the federal benefits are expected

352
00:17:40,560 --> 00:17:44,119
Speaker 8: to be cut, that there is money to pay for these. Certainly,

353
00:17:44,160 --> 00:17:47,440
Speaker 8: the Trump administration did move money around in mid October

354
00:17:47,480 --> 00:17:50,840
Speaker 8: to pay for the military personnel. It's unclear whether they'll

355
00:17:50,840 --> 00:17:54,480
Speaker 8: do that again on November first, So that's another big date.

356
00:17:54,640 --> 00:17:57,560
Speaker 8: And then the other big issue we're keeping an ion

357
00:17:57,760 --> 00:18:02,760
Speaker 8: certainly is air traffic. Afternoon or this morning, Transportation Secretary

358
00:18:02,760 --> 00:18:07,520
Speaker 8: Sean Duffy talked about air traffic controllers TSA going without

359
00:18:07,560 --> 00:18:12,520
Speaker 8: paychecks and the havoc that could read on air travel.

360
00:18:12,840 --> 00:18:15,040
Speaker 8: That was the issue that sort of that forced the

361
00:18:15,119 --> 00:18:18,320
Speaker 8: last shutdown to end, and certainly as we're heading into

362
00:18:18,359 --> 00:18:21,919
Speaker 8: holiday season, the pressure becomes higher and higher in that regard.

363
00:18:22,119 --> 00:18:23,639
Speaker 3: Megan, thank you very much for the update. We'll get

364
00:18:23,680 --> 00:18:24,040
Speaker 3: more to come.

365
00:18:24,080 --> 00:18:26,200
Speaker 2: I know Megan Scully, who leads our congressional team here

366
00:18:26,480 --> 00:18:28,560
Speaker 2: at Bloomberg joining me on set. And Megan mentioned just

367
00:18:28,560 --> 00:18:30,320
Speaker 2: a moment ago the pressure that this is putting on

368
00:18:30,400 --> 00:18:33,159
Speaker 2: federal workers. More than seven hundred thousand of them receive

369
00:18:33,240 --> 00:18:35,560
Speaker 2: paychecks for zero dollars at the end of last week.

370
00:18:35,600 --> 00:18:37,480
Speaker 2: There are, of course, many who are furloughed and not

371
00:18:37,640 --> 00:18:41,000
Speaker 2: being paid as well. In this area, in the greater Washington,

372
00:18:41,040 --> 00:18:42,879
Speaker 2: DC area, we have a lot of workers looking to

373
00:18:43,000 --> 00:18:46,080
Speaker 2: find food through other ways, going to food pantries. Here

374
00:18:46,080 --> 00:18:48,800
Speaker 2: are some who went to a World Central Kitchen food

375
00:18:48,800 --> 00:18:50,080
Speaker 2: pantry in search.

376
00:18:49,840 --> 00:18:51,760
Speaker 3: Of food just a couple days ago.

377
00:18:52,480 --> 00:18:54,960
Speaker 5: It's a little challenging via federal employee right now, not

378
00:18:55,040 --> 00:18:55,879
Speaker 5: knowing when we'll head.

379
00:18:55,800 --> 00:18:56,359
Speaker 4: Back to work.

380
00:18:56,440 --> 00:18:58,720
Speaker 9: It's starting to get real. You know, we just missed,

381
00:18:58,960 --> 00:19:03,120
Speaker 9: we just missed the paycheck. So definitely moving money around,

382
00:19:03,280 --> 00:19:07,320
Speaker 9: playing money games, and you know you can't sustain this

383
00:19:07,320 --> 00:19:09,240
Speaker 9: for much longer. I mean, at some point you're just

384
00:19:09,280 --> 00:19:11,000
Speaker 9: going to dry out your savings and all that.

385
00:19:11,119 --> 00:19:15,240
Speaker 10: It's just have that who are supposed to be supporting

386
00:19:15,320 --> 00:19:18,040
Speaker 10: us and showing up for us aren't showing up for us.

387
00:19:21,359 --> 00:19:24,200
Speaker 2: Our political panel joins us now Adam Hodge, Democratic strategists,

388
00:19:24,200 --> 00:19:26,520
Speaker 2: managing partner at Bully Pulpit International, I should say, a

389
00:19:26,520 --> 00:19:30,200
Speaker 2: Bloomberg Politics contributor as well, and Greg joins policy director

390
00:19:30,280 --> 00:19:33,200
Speaker 2: brownsing Hyatt Farber Shrek, and a Republican strategist with me

391
00:19:33,280 --> 00:19:35,680
Speaker 2: here in Washington. Adam, let me turn to you as

392
00:19:35,680 --> 00:19:37,960
Speaker 2: we talk about pressure points. You listen to those federal

393
00:19:38,000 --> 00:19:40,560
Speaker 2: workers talking about the pressure that they're feeling brought to

394
00:19:40,600 --> 00:19:43,840
Speaker 2: bear on their shoulders in this moment. How do you

395
00:19:43,840 --> 00:19:47,479
Speaker 2: think lawmakers are listening to that, seeing that, reacting to

396
00:19:47,480 --> 00:19:49,800
Speaker 2: what they're hearing now increasingly from workers who have either

397
00:19:49,800 --> 00:19:52,280
Speaker 2: been paid zero dollars as I said, or have been

398
00:19:52,280 --> 00:19:54,000
Speaker 2: furloughed now for four weeks time.

399
00:19:55,200 --> 00:19:55,440
Speaker 4: Yeah.

400
00:19:55,520 --> 00:19:58,439
Speaker 5: Look, David, it's not just federal employees here in Washington,

401
00:19:58,600 --> 00:20:02,680
Speaker 5: federal employees around the country who are concerned that they're

402
00:20:02,720 --> 00:20:05,080
Speaker 5: going without a paycheck. And I think the key thing

403
00:20:05,080 --> 00:20:08,000
Speaker 5: that everybody understands, if you just unpack these issues, is

404
00:20:08,040 --> 00:20:11,159
Speaker 5: that the way to get out of this shutdown is

405
00:20:11,200 --> 00:20:13,880
Speaker 5: to do a deal in healthcare that extends the ACA

406
00:20:14,320 --> 00:20:17,840
Speaker 5: text credits in that coverage, and also reopening the government.

407
00:20:17,880 --> 00:20:20,160
Speaker 3: That is just the math and the Senate, and that is.

408
00:20:20,080 --> 00:20:22,840
Speaker 5: The reality on the ground. I think the political reality

409
00:20:22,880 --> 00:20:25,600
Speaker 5: is also that the healthcare issue has truly become the

410
00:20:25,720 --> 00:20:29,200
Speaker 5: salient issue of this shutdown fight, and you see Republicans

411
00:20:29,640 --> 00:20:33,280
Speaker 5: on a bit of the defensive trying to explain what

412
00:20:33,320 --> 00:20:37,080
Speaker 5: their alternative would be, and it's coming back to bite them.

413
00:20:37,080 --> 00:20:40,720
Speaker 5: And the polls that I've seen repeatedly over the last

414
00:20:40,720 --> 00:20:43,800
Speaker 5: few weeks have shown that the majority of Americans, the

415
00:20:43,800 --> 00:20:48,360
Speaker 5: majority of Democrats, independents, and even some Republicans, are blaming

416
00:20:48,400 --> 00:20:50,600
Speaker 5: the Republican Party for the shutdown. So I think that's

417
00:20:50,680 --> 00:20:53,200
Speaker 5: where we get to getting a deal. It gets the

418
00:20:54,040 --> 00:20:58,080
Speaker 5: AC issue resolved in reopening the government, and.

419
00:20:58,080 --> 00:21:00,639
Speaker 2: Senator Tom Tillis of North Carolina warning Republicans that this

420
00:21:00,640 --> 00:21:03,639
Speaker 2: could have an impact on their election prospects in the midterms.

421
00:21:04,080 --> 00:21:05,359
Speaker 2: Gret I want to got to go to you on

422
00:21:05,640 --> 00:21:07,320
Speaker 2: what Adam was bringing up, and that is we've heard

423
00:21:07,320 --> 00:21:10,000
Speaker 2: from the Senate Majority Leader John Thune. Look, if Democrats

424
00:21:10,000 --> 00:21:12,080
Speaker 2: agree to open the government. He is more than willing

425
00:21:12,119 --> 00:21:15,040
Speaker 2: to have a conversation about these health care benefits. What

426
00:21:15,160 --> 00:21:18,040
Speaker 2: is your sense of your understanding of what Republicans are

427
00:21:18,080 --> 00:21:19,880
Speaker 2: willing to do if that comes to pass? In other words,

428
00:21:19,920 --> 00:21:22,520
Speaker 2: what is the Republican plan when it comes to healthcare?

429
00:21:22,840 --> 00:21:23,040
Speaker 9: In this.

430
00:21:24,560 --> 00:21:29,400
Speaker 2: Vein of talking about subsidies, these Obamacare subsidies and medicare, well,

431
00:21:29,480 --> 00:21:29,960
Speaker 2: I think.

432
00:21:29,800 --> 00:21:32,640
Speaker 11: It's really important for Republicans to really dig down deep

433
00:21:32,680 --> 00:21:34,960
Speaker 11: and find out why the Affordable Care Act is actually

434
00:21:35,040 --> 00:21:39,520
Speaker 11: so unaffordable. You know, these subsidies, these additional subsidies were

435
00:21:39,800 --> 00:21:42,439
Speaker 11: a part of COVID funding, and if we are in

436
00:21:42,440 --> 00:21:46,600
Speaker 11: a position where we are beyond COVID, the subsidies have

437
00:21:46,680 --> 00:21:50,280
Speaker 11: to continue to exist in perpetuity, and Democrats just want

438
00:21:50,280 --> 00:21:53,840
Speaker 11: to rubber stamp that without really asking any questions as

439
00:21:53,880 --> 00:21:56,840
Speaker 11: to why the promises that were made when the Affordable

440
00:21:56,880 --> 00:22:00,440
Speaker 11: Care Act were not met and ultimately what the Demomocrats

441
00:22:00,440 --> 00:22:03,520
Speaker 11: plan to do about it other than simply increase subsidies

442
00:22:03,560 --> 00:22:04,400
Speaker 11: in perpetuity.

443
00:22:04,760 --> 00:22:07,760
Speaker 3: There is really no concrete.

444
00:22:07,240 --> 00:22:11,960
Speaker 11: Way to have that discussion while being held hostage with

445
00:22:12,040 --> 00:22:16,879
Speaker 11: the closed government. Unfortunately, Democrats seem to be willing to

446
00:22:16,960 --> 00:22:21,640
Speaker 11: sacrifice snap recipients and air traffic controllers and the American

447
00:22:21,680 --> 00:22:24,919
Speaker 11: people hostage until they get what they want, which is

448
00:22:25,640 --> 00:22:28,320
Speaker 11: just putting more money into the system without trying.

449
00:22:28,080 --> 00:22:28,719
Speaker 3: To reform it.

450
00:22:29,920 --> 00:22:31,679
Speaker 2: But credit what your proposing sounds like kind of a

451
00:22:31,680 --> 00:22:34,520
Speaker 2: broader philosophical conversation that we've had many times in Washington

452
00:22:34,560 --> 00:22:36,920
Speaker 2: about the role that the government should play in healthcare benefits.

453
00:22:37,320 --> 00:22:39,200
Speaker 2: Why would a person who's worried about his or her

454
00:22:39,520 --> 00:22:43,600
Speaker 2: benefits going up so expensively feel confident in the fact

455
00:22:43,600 --> 00:22:45,159
Speaker 2: that they're going to be able to get through that

456
00:22:45,160 --> 00:22:47,720
Speaker 2: broad philosophical conversation find some way to give that person

457
00:22:47,760 --> 00:22:48,280
Speaker 2: some relief.

458
00:22:49,600 --> 00:22:52,639
Speaker 11: Well, I think it's because the two Democratic leaders in

459
00:22:52,680 --> 00:22:56,080
Speaker 11: Congress have already turned down a year long opportunity to

460
00:22:56,160 --> 00:22:59,920
Speaker 11: extend the subsidies, so they just want it done in perpetuity,

461
00:23:00,320 --> 00:23:04,400
Speaker 11: and ultimately that is not realistic. It is an unfortunate

462
00:23:04,480 --> 00:23:08,000
Speaker 11: situation that Chuck Schumer and Leader Jeffries are willing to

463
00:23:08,160 --> 00:23:11,280
Speaker 11: hold the American people hostage in order to achieve this.

464
00:23:11,800 --> 00:23:13,520
Speaker 11: But I think it's about time that we ask some

465
00:23:13,600 --> 00:23:16,080
Speaker 11: harder questions as to why they don't want to have

466
00:23:16,119 --> 00:23:19,520
Speaker 11: those conversations about why the Affordable Care Act has been

467
00:23:19,560 --> 00:23:20,040
Speaker 11: a failure.

468
00:23:21,920 --> 00:23:24,560
Speaker 2: Adam, the President United States, as we've talked about over

469
00:23:24,560 --> 00:23:27,200
Speaker 2: the course of the hour, is quite far away from Washington,

470
00:23:27,280 --> 00:23:30,400
Speaker 2: seven thousand miles away in Asia holding these meetings, going

471
00:23:30,440 --> 00:23:31,320
Speaker 2: to South Korea next.

472
00:23:31,359 --> 00:23:31,960
Speaker 3: He's not here.

473
00:23:32,000 --> 00:23:33,680
Speaker 2: And I was on Capitol Hill last week spoke with

474
00:23:33,720 --> 00:23:36,640
Speaker 2: Hakim Jeffreys, the minority leader, and he really stressed there's

475
00:23:36,680 --> 00:23:39,920
Speaker 2: no opportunity for progress here without the President in town

476
00:23:40,359 --> 00:23:42,640
Speaker 2: either giving his blessing to conversations that would take place

477
00:23:42,640 --> 00:23:46,080
Speaker 2: between Republicans and Democrats, are participating in them himself. I

478
00:23:46,119 --> 00:23:47,800
Speaker 2: wonder if you agree with that and sort of what

479
00:23:47,920 --> 00:23:50,399
Speaker 2: absent that could catalyze these two parties talking with one

480
00:23:50,440 --> 00:23:52,159
Speaker 2: another and trying to find some resolution to this.

481
00:23:54,160 --> 00:23:56,160
Speaker 5: I agree, But I think it's simple just to take

482
00:23:56,200 --> 00:23:59,120
Speaker 5: the president's words himself. I mean, he said that he's

483
00:23:59,119 --> 00:24:01,959
Speaker 5: the Speaker of the House. He said that he's in

484
00:24:01,960 --> 00:24:04,480
Speaker 5: addition to being president in that States, and in practical

485
00:24:04,520 --> 00:24:07,919
Speaker 5: reality he is. And so any deal that is going

486
00:24:08,000 --> 00:24:10,440
Speaker 5: to get done has to have the president's push in

487
00:24:10,520 --> 00:24:13,640
Speaker 5: the president's blessing. And I think what I've also heard

488
00:24:13,800 --> 00:24:17,960
Speaker 5: that really stood out to me. The President understands the

489
00:24:18,040 --> 00:24:20,720
Speaker 5: potential damage to Republicans if they don't get a deal

490
00:24:20,720 --> 00:24:24,400
Speaker 5: on healthcare. I think you've heard from everybody from Marjor

491
00:24:24,480 --> 00:24:27,800
Speaker 5: Taylor Green on the extreme right to more moderate members

492
00:24:28,600 --> 00:24:31,040
Speaker 5: in the middle who recognize the political salience of this

493
00:24:31,119 --> 00:24:33,800
Speaker 5: issue because it's the right thing to do. I mean,

494
00:24:33,840 --> 00:24:37,320
Speaker 5: you've got people who are already getting premium increases and

495
00:24:37,359 --> 00:24:38,920
Speaker 5: there's a real question about whether they're going to be

496
00:24:38,920 --> 00:24:43,320
Speaker 5: able to afford their healthcare in the long term. Those subsidies, yes,

497
00:24:43,359 --> 00:24:45,800
Speaker 5: they were part of COVID, and they added helped add

498
00:24:46,400 --> 00:24:48,880
Speaker 5: ten million people to the roles and more people with healthcare,

499
00:24:49,520 --> 00:24:52,040
Speaker 5: helped stabilize the market. That's just you know, kind of

500
00:24:52,119 --> 00:24:54,800
Speaker 5: economics basics, and so I think that is why I

501
00:24:54,840 --> 00:24:58,720
Speaker 5: think you get a permanent extension of this of the

502
00:24:59,200 --> 00:24:59,960
Speaker 5: Obombacare CREWD.

503
00:25:00,480 --> 00:25:01,280
Speaker 4: You provide them.

504
00:25:01,119 --> 00:25:04,120
Speaker 5: Certainty to the market, and you get a political deal

505
00:25:04,200 --> 00:25:06,520
Speaker 5: that quite frankly, is in the Republicans on best interest.

506
00:25:08,359 --> 00:25:10,200
Speaker 2: Adam going to give you the last word this hour.

507
00:25:10,320 --> 00:25:12,320
Speaker 2: I gave it to credit last hour. Just as you see,

508
00:25:12,320 --> 00:25:13,920
Speaker 2: as you look ahead here, what you think that the

509
00:25:14,280 --> 00:25:15,560
Speaker 2: catalyst is going to be. Is it going to be

510
00:25:15,600 --> 00:25:17,200
Speaker 2: a calendar based catalyst? Is it going to be the

511
00:25:17,280 --> 00:25:19,480
Speaker 2: Veterans Day holiday, for instance, Is it likely to be

512
00:25:19,520 --> 00:25:21,680
Speaker 2: this November first? Pressure point? In the minute we have left?

513
00:25:21,680 --> 00:25:24,040
Speaker 2: Where do you see sort of any opportunity for movement here?

514
00:25:25,280 --> 00:25:27,320
Speaker 5: I think you're starting to see it already with people

515
00:25:27,480 --> 00:25:30,560
Speaker 5: showing up at the town halls for Republican members of

516
00:25:30,640 --> 00:25:33,760
Speaker 5: Congress and they're talking about the premium increases that they're

517
00:25:33,760 --> 00:25:34,280
Speaker 5: already getting.

518
00:25:34,320 --> 00:25:36,400
Speaker 4: I mean that is real pressure for their constituents.

519
00:25:36,760 --> 00:25:38,560
Speaker 5: I think you get to November first and people miss

520
00:25:38,600 --> 00:25:40,760
Speaker 5: a paycheck that is certainly painful.

521
00:25:40,960 --> 00:25:42,000
Speaker 3: And again, we can.

522
00:25:41,960 --> 00:25:44,320
Speaker 5: Get out of this deal if there was a little

523
00:25:44,320 --> 00:25:47,480
Speaker 5: bit more trust between Republicans and Democrats that they would

524
00:25:47,480 --> 00:25:48,639
Speaker 5: actually be really negotiation.

525
00:25:49,119 --> 00:25:51,080
Speaker 3: I think you'd get there, and that rebuilding that trust

526
00:25:51,119 --> 00:25:51,439
Speaker 3: is going to.

527
00:25:51,440 --> 00:25:55,720
Speaker 5: Be a key somehow, some way.

528
00:25:54,880 --> 00:25:55,600
Speaker 3: Somehow, some way.

529
00:25:55,640 --> 00:25:59,400
Speaker 2: Adam Hodge, Managing partner, Bully Pulpet International Joints Policy Director,

530
00:25:59,440 --> 00:26:02,159
Speaker 2: brownsing High at Farber Shrek joining me here on Bloomberg's

531
00:26:02,160 --> 00:26:04,720
Speaker 2: Balance of Power. We continue our coverage of focusing more

532
00:26:04,720 --> 00:26:07,000
Speaker 2: on the shutdown. When we come back after a short break.

533
00:26:07,240 --> 00:26:08,280
Speaker 2: This is Bloomberg.

534
00:26:10,960 --> 00:26:14,440
Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch

535
00:26:14,480 --> 00:26:17,560
Speaker 1: us live weekdays at noon and five pm Eastern on

536
00:26:17,680 --> 00:26:20,920
Speaker 1: Apple Cockley and Android Auto with the Bloomberg Business App.

537
00:26:20,960 --> 00:26:23,959
Speaker 1: You can also listen live on Amazon Alexa from our

538
00:26:24,000 --> 00:26:28,520
Speaker 1: flagship New York station, Just Say Alexa play Bloomberg eleven thirty.

539
00:26:29,760 --> 00:26:31,879
Speaker 2: David Gurray in for Joe Matthew on this Tuesday, on

540
00:26:31,920 --> 00:26:34,199
Speaker 2: the twenty eighth day of this federal government shutdown, and

541
00:26:34,240 --> 00:26:36,719
Speaker 2: all throughout we've been talking to lawmakers. We're going back

542
00:26:36,760 --> 00:26:40,040
Speaker 2: and forth to their districts, states, coming back to Washington,

543
00:26:40,040 --> 00:26:42,520
Speaker 2: bring us news of how their constituents are thinking about

544
00:26:42,520 --> 00:26:45,160
Speaker 2: this shutdown as it stretches onward and onward.

545
00:26:45,640 --> 00:26:47,439
Speaker 3: Please out the Carston. Greg Murphy joins us.

546
00:26:47,440 --> 00:26:50,399
Speaker 2: He represents the third Congressional district in North Carolina, my

547
00:26:50,440 --> 00:26:52,680
Speaker 2: home state, and I might invote my anchor's prerogative here

548
00:26:52,880 --> 00:26:54,439
Speaker 2: and just a couple of moments to talk about the

549
00:26:54,440 --> 00:26:57,680
Speaker 2: geography and maybe the political terrain in that district as well.

550
00:26:57,680 --> 00:26:59,879
Speaker 3: But great to have you with us here, Thank you, Washington.

551
00:27:00,040 --> 00:27:01,359
Speaker 2: Let me start with that question of sort of what

552
00:27:01,359 --> 00:27:03,800
Speaker 2: you're hearing as you go back home about how long

553
00:27:03,840 --> 00:27:05,560
Speaker 2: this is dragged on and how there doesn't seem to

554
00:27:05,600 --> 00:27:08,440
Speaker 2: be at least at this moment, any clear off ramp

555
00:27:08,480 --> 00:27:08,800
Speaker 2: to the show.

556
00:27:08,880 --> 00:27:11,720
Speaker 12: Yeah, no, I think the Democrats have sewn themselves into

557
00:27:11,760 --> 00:27:12,240
Speaker 12: a corner.

558
00:27:12,400 --> 00:27:14,439
Speaker 4: I really, it's really true.

559
00:27:14,720 --> 00:27:18,320
Speaker 12: I'm hearing hey, stay firm, hold the line because it's

560
00:27:18,400 --> 00:27:22,639
Speaker 12: just an asinine, ridiculous amount of requests in something that

561
00:27:22,680 --> 00:27:25,800
Speaker 12: shouldn't have any requests. And this is a clean bill

562
00:27:25,880 --> 00:27:28,439
Speaker 12: to continue funding a month ago on a Wednesday, just

563
00:27:28,480 --> 00:27:30,359
Speaker 12: like we did on a Tuesday. And so people are

564
00:27:30,440 --> 00:27:33,199
Speaker 12: understanding that, and I think they're sensing some of the

565
00:27:33,240 --> 00:27:34,680
Speaker 12: desperation of the other side.

566
00:27:34,800 --> 00:27:36,320
Speaker 2: I was up on Capitol Hill last week and I

567
00:27:36,359 --> 00:27:38,720
Speaker 2: sat down with Hakeing Jeffreys, the Minority leader, and just

568
00:27:38,800 --> 00:27:41,640
Speaker 2: feet away the House Speaker was doing a news conference,

569
00:27:41,640 --> 00:27:44,399
Speaker 2: and I said the minority leader, you know, you're so

570
00:27:44,480 --> 00:27:46,080
Speaker 2: close to one other. Do you speak with one other?

571
00:27:46,160 --> 00:27:48,560
Speaker 2: Are these conversations happening? Yeah, it's all struck by how

572
00:27:48,640 --> 00:27:50,680
Speaker 2: quiet the place was. But is that happening? Are you

573
00:27:50,760 --> 00:27:53,320
Speaker 2: talking to Democrats? Is there any kind of conversation happening?

574
00:27:53,520 --> 00:27:56,280
Speaker 12: Well, the conversation, you know, it reminds me of Seinfeld

575
00:27:56,320 --> 00:27:58,360
Speaker 12: a little bit. That was a show about nothing. This

576
00:27:58,440 --> 00:28:01,240
Speaker 12: is the shutdown about nothing because we literally just wanted

577
00:28:01,240 --> 00:28:03,960
Speaker 12: to fund the government. Let's just be very clear, David,

578
00:28:04,000 --> 00:28:06,280
Speaker 12: Let's make let's just tell it what it is. This

579
00:28:06,359 --> 00:28:10,000
Speaker 12: is because AOC scared Schumer and the progressive left scared

580
00:28:10,040 --> 00:28:12,160
Speaker 12: Schumer because he did the exact same thing in funding

581
00:28:12,160 --> 00:28:13,560
Speaker 12: the government in March period.

582
00:28:13,760 --> 00:28:15,479
Speaker 4: Let's just to sell it down to what it is.

583
00:28:15,720 --> 00:28:18,640
Speaker 12: And so they've now put one point five trillion dollars

584
00:28:18,640 --> 00:28:22,000
Speaker 12: in demands, basically reversing everything that the twenty twenty four

585
00:28:22,040 --> 00:28:25,359
Speaker 12: elections said to do because they say they don't like it.

586
00:28:25,600 --> 00:28:27,920
Speaker 12: And so I think the American people understand that. Look,

587
00:28:27,960 --> 00:28:32,199
Speaker 12: you had the Federal Credit Union yesterday. Federal employees say yesterday,

588
00:28:32,320 --> 00:28:34,320
Speaker 12: say look, two thirds of us are say enough of this,

589
00:28:34,400 --> 00:28:36,200
Speaker 12: vote for the clean cr let us get back to work,

590
00:28:36,240 --> 00:28:38,360
Speaker 12: let us get funded. So I think the cracks are

591
00:28:38,400 --> 00:28:42,000
Speaker 12: starting to occur. We know that some moderate Senate Democrats

592
00:28:42,000 --> 00:28:45,120
Speaker 12: who spoke on the condition of anonymity last week said, look,

593
00:28:45,160 --> 00:28:47,640
Speaker 12: we'd vote to fund the government, but our guillotines would

594
00:28:47,680 --> 00:28:49,160
Speaker 12: kill us, our far left would kill us.

595
00:28:49,360 --> 00:28:52,160
Speaker 2: So you are a medical doctor by training or theologists,

596
00:28:52,160 --> 00:28:55,080
Speaker 2: I believe the Democrats say this is about healthcare and

597
00:28:55,080 --> 00:28:57,800
Speaker 2: the rise and cost of healthcare yeah, I wonder if

598
00:28:57,800 --> 00:29:00,280
Speaker 2: you have any sympathy for that. Maybe stepping back, not

599
00:29:00,320 --> 00:29:03,320
Speaker 2: talking about the subsidies specifically, but just the weight that

600
00:29:03,360 --> 00:29:05,640
Speaker 2: healthcare costs are bringing to bear on Americans, incuting those

601
00:29:05,640 --> 00:29:06,120
Speaker 2: in your district.

602
00:29:06,160 --> 00:29:08,720
Speaker 12: YEA, go back and look at twenty fourteen with Obamacare.

603
00:29:08,800 --> 00:29:11,880
Speaker 12: This was a ticking time bomb that was going to

604
00:29:11,920 --> 00:29:13,800
Speaker 12: explode at some point. And then look at all the

605
00:29:13,800 --> 00:29:17,240
Speaker 12: different variables, look at why things cost so much today. Yes,

606
00:29:17,280 --> 00:29:21,760
Speaker 12: we're living longer, Yes, care is more expensive. We're doing great,

607
00:29:22,240 --> 00:29:26,120
Speaker 12: great new therapies. You know this from Chapel Hill. But

608
00:29:26,200 --> 00:29:29,480
Speaker 12: sadly enough, we have grown since twenty fourteen, since Obamacare

609
00:29:29,480 --> 00:29:34,120
Speaker 12: has exploded the middlemen in society, the insurance agencies, the

610
00:29:34,160 --> 00:29:37,640
Speaker 12: pharmacy benefit managers. These are great, as Ross perrow Is say,

611
00:29:37,680 --> 00:29:40,560
Speaker 12: the great sucking sound of medicine. We need to destroy

612
00:29:41,240 --> 00:29:44,480
Speaker 12: the huge monolith that's occurred in the middleman and get

613
00:29:44,520 --> 00:29:46,120
Speaker 12: back to making health care affordable.

614
00:29:46,360 --> 00:29:47,560
Speaker 4: They want these subsidies.

615
00:29:47,680 --> 00:29:51,120
Speaker 12: These subsidies are basically subsidizing insurance company profit.

616
00:29:51,280 --> 00:29:52,200
Speaker 4: Well, sorry not going do.

617
00:29:52,400 --> 00:29:53,720
Speaker 3: I put the question to you here?

618
00:29:53,920 --> 00:29:56,680
Speaker 2: What are Republicans proposed to do if you don't extend

619
00:29:56,720 --> 00:29:58,480
Speaker 2: these substies. How to Republicans bring those costs down?

620
00:29:58,520 --> 00:29:59,800
Speaker 12: Well, I think there are a lot of things. You

621
00:29:59,840 --> 00:30:03,120
Speaker 12: look Medicare advantage. United Healthcare is really the worst offender

622
00:30:03,200 --> 00:30:05,240
Speaker 12: with this and all the upcoding of things that they do.

623
00:30:05,280 --> 00:30:08,160
Speaker 12: If you look at pharmacy benefit managers, where they're taking

624
00:30:08,160 --> 00:30:11,600
Speaker 12: the middleman out, squeezing our independent pharmacies and causing drug

625
00:30:11,640 --> 00:30:14,040
Speaker 12: prices to be high because they get paid more because

626
00:30:14,080 --> 00:30:16,560
Speaker 12: of that. Looking at efficiencies, look at what Trump our

627
00:30:16,600 --> 00:30:18,400
Speaker 12: ex has done. They're saying we're going to go straight

628
00:30:18,440 --> 00:30:21,440
Speaker 12: from the pharmaceutical company to the patient. We can cut

629
00:30:21,480 --> 00:30:24,640
Speaker 12: a lot of costs with this. There are many, many

630
00:30:24,640 --> 00:30:27,640
Speaker 12: different ways we can do this. Inherently, we're living longer,

631
00:30:27,720 --> 00:30:30,600
Speaker 12: we're living healthier, and those things do cost more. But

632
00:30:30,640 --> 00:30:33,000
Speaker 12: there are a whole lot of efficiencies that can be

633
00:30:33,040 --> 00:30:36,320
Speaker 12: obtained that present day bureaucracy is not allowing us to do.

634
00:30:36,680 --> 00:30:38,480
Speaker 3: I said I was going to wax reminiscent, I'm going

635
00:30:38,560 --> 00:30:38,880
Speaker 3: to do that.

636
00:30:39,000 --> 00:30:39,200
Speaker 4: Now.

637
00:30:39,320 --> 00:30:42,440
Speaker 2: You represent a territory that has some of the most

638
00:30:42,440 --> 00:30:43,560
Speaker 2: beautiful beaches in the world.

639
00:30:43,600 --> 00:30:44,600
Speaker 4: I'd say yeah.

640
00:30:44,600 --> 00:30:46,880
Speaker 2: Objectively, I spent a lot of time on Emerald Island,

641
00:30:46,880 --> 00:30:49,400
Speaker 2: Carteret County of course went to Okra Coke as well,

642
00:30:49,400 --> 00:30:52,040
Speaker 2: one of the most beautiful and isolated places in the world.

643
00:30:53,520 --> 00:30:55,040
Speaker 3: You're in a strange predicament right now.

644
00:30:55,080 --> 00:30:57,160
Speaker 2: The Republican legislature in the state of North Carolina has

645
00:30:57,160 --> 00:31:00,880
Speaker 2: redrawn maps. How are you thinking about the consequences of

646
00:31:00,920 --> 00:31:02,600
Speaker 2: that at this point in time and what that means

647
00:31:02,600 --> 00:31:04,640
Speaker 2: for your kind of electoral fortunes going forward.

648
00:31:04,680 --> 00:31:05,960
Speaker 4: Well, they took away my beaches.

649
00:31:06,000 --> 00:31:09,480
Speaker 12: I've always had a coastchool district, and frankly, I'm not

650
00:31:09,520 --> 00:31:11,680
Speaker 12: too happy about that. But that said, you know, I'm

651
00:31:11,680 --> 00:31:14,200
Speaker 12: always going to represent to my fullest extent the people

652
00:31:14,240 --> 00:31:16,600
Speaker 12: that are in within my district. You know, if you

653
00:31:16,640 --> 00:31:19,160
Speaker 12: look around the country, look at Illinois, look at California,

654
00:31:19,240 --> 00:31:22,160
Speaker 12: look up in the northeast, it's always been regardless of

655
00:31:22,200 --> 00:31:25,640
Speaker 12: any Republican people there, it's always been gerrymannered against Republicans.

656
00:31:26,000 --> 00:31:28,520
Speaker 12: And it's really interesting that now we're playing the same

657
00:31:29,400 --> 00:31:31,840
Speaker 12: same hand that they've played against us. I don't know

658
00:31:31,880 --> 00:31:34,120
Speaker 12: that this nuclear war is a good thing for the country,

659
00:31:34,880 --> 00:31:37,160
Speaker 12: but it's just literally trying to turn the tide back

660
00:31:37,200 --> 00:31:38,960
Speaker 12: which has been put against Republicans before.

661
00:31:39,040 --> 00:31:40,440
Speaker 2: How do you see all this playing out? So you

662
00:31:40,440 --> 00:31:43,560
Speaker 2: bring up that slippery slope and turning back that tide.

663
00:31:43,840 --> 00:31:45,160
Speaker 3: Is it going to happen? How do you see this

664
00:31:45,440 --> 00:31:46,400
Speaker 3: raptionting up even more?

665
00:31:46,520 --> 00:31:47,840
Speaker 4: Yeah? You mean in North Carolina?

666
00:31:47,920 --> 00:31:49,920
Speaker 2: Well, just in the United States War probably no, look

667
00:31:50,360 --> 00:31:51,760
Speaker 2: for this is happening. Indiana is another one.

668
00:31:51,880 --> 00:31:53,800
Speaker 12: Yeah, And I heard Virginia was going to try to

669
00:31:53,800 --> 00:31:56,160
Speaker 12: do it too. I don't know, you know, I think

670
00:31:56,440 --> 00:31:58,200
Speaker 12: history will tell us whether this was a good thing

671
00:31:58,280 --> 00:32:01,600
Speaker 12: or not for the country, or whether it was a

672
00:32:01,640 --> 00:32:05,440
Speaker 12: partisan initiative that's in reaction to a previous partisan initiative.

673
00:32:05,760 --> 00:32:06,840
Speaker 4: I don't know. Time will tell.

674
00:32:07,160 --> 00:32:08,680
Speaker 12: We're gonna have to let the dust settle on this

675
00:32:08,720 --> 00:32:10,400
Speaker 12: one before making any real judgments.

676
00:32:10,840 --> 00:32:13,160
Speaker 2: I think of you and your relationship with Don Davis,

677
00:32:13,160 --> 00:32:15,239
Speaker 2: the gentleman from snow Hill and Green County, and you've

678
00:32:15,280 --> 00:32:17,640
Speaker 2: gotten along I think reasonably well. And we talked at

679
00:32:17,640 --> 00:32:19,720
Speaker 2: the top just about the level of comedy among Democrats

680
00:32:19,760 --> 00:32:21,320
Speaker 2: and Republicans or the lack thereof.

681
00:32:21,880 --> 00:32:24,240
Speaker 3: How does this stand to strain that even more?

682
00:32:24,400 --> 00:32:27,040
Speaker 2: If this process continues and you see again these maps

683
00:32:27,040 --> 00:32:28,880
Speaker 2: being redrawn in more strains being placed, well.

684
00:32:28,800 --> 00:32:30,280
Speaker 4: Don knows that I'm not directing this.

685
00:32:31,000 --> 00:32:33,680
Speaker 12: I'm literally you know, I'm running in the district where

686
00:32:33,680 --> 00:32:34,600
Speaker 12: I'm the incumbent.

687
00:32:35,840 --> 00:32:37,640
Speaker 4: We have worked together on a lot of issues.

688
00:32:37,640 --> 00:32:39,719
Speaker 12: We work back when I was in the state legislature

689
00:32:39,720 --> 00:32:41,920
Speaker 12: on the issues. But you know, this is a team sport,

690
00:32:41,960 --> 00:32:45,040
Speaker 12: and it's one team against another team, and push comes

691
00:32:45,040 --> 00:32:47,479
Speaker 12: to shove regardless of what happens in the future.

692
00:32:47,960 --> 00:32:49,680
Speaker 4: This is the hard part of politics.

693
00:32:49,920 --> 00:32:51,480
Speaker 2: In the time we have left, Let's just go back

694
00:32:51,480 --> 00:32:54,360
Speaker 2: to the hill and think about the state of play here.

695
00:32:54,840 --> 00:32:57,000
Speaker 2: I imagine you'll have meetings among your caucus. You'll hear

696
00:32:57,000 --> 00:32:59,880
Speaker 2: from your leadership. What are you looking forward to here

697
00:33:00,040 --> 00:33:01,959
Speaker 2: the days to come? We have the President who's still overseas.

698
00:33:02,000 --> 00:33:03,360
Speaker 2: Does he need to be back in town for them

699
00:33:03,360 --> 00:33:04,160
Speaker 2: to be real action here?

700
00:33:04,200 --> 00:33:04,840
Speaker 4: Now? Not at all?

701
00:33:04,880 --> 00:33:07,360
Speaker 12: I mean, okay, look at the wins that he's having overseas.

702
00:33:07,400 --> 00:33:08,200
Speaker 4: My god, look at you.

703
00:33:08,400 --> 00:33:11,440
Speaker 12: All the trade initiatives and all the trade deals that

704
00:33:11,440 --> 00:33:13,480
Speaker 12: he's doing the buy An administration. During the entire four

705
00:33:13,560 --> 00:33:15,880
Speaker 12: years I was on the Trade subcommittee for ways and means,

706
00:33:15,920 --> 00:33:18,600
Speaker 12: we did absolutely nothing, and the president has win after

707
00:33:18,640 --> 00:33:22,080
Speaker 12: win after win. Now, this is a Senate Democrat problem, period.

708
00:33:22,320 --> 00:33:24,240
Speaker 12: And when the cracks appear in that which are going

709
00:33:24,280 --> 00:33:26,800
Speaker 12: to have to happen sooner than later. We'll get this

710
00:33:26,920 --> 00:33:28,760
Speaker 12: resolved and we can actually go ahead with government.

711
00:33:28,880 --> 00:33:30,640
Speaker 2: A bit unfair here, but a headline across of the

712
00:33:30,720 --> 00:33:34,040
Speaker 2: terminal federal judge plans to block Trump shut down layoffs.

713
00:33:34,560 --> 00:33:37,160
Speaker 2: This is a unique shutdown in so many ways. We

714
00:33:37,240 --> 00:33:39,440
Speaker 2: have Russ Vot, who's running the Office of Budget, trying

715
00:33:39,440 --> 00:33:41,400
Speaker 2: to move things around, keep some people paid, keep some

716
00:33:41,480 --> 00:33:44,200
Speaker 2: programs running. When you hear a headline like that, how

717
00:33:44,240 --> 00:33:46,880
Speaker 2: do you react to it? Just kind of the limbo

718
00:33:46,920 --> 00:33:47,920
Speaker 2: that a lot of these federal workers.

719
00:33:48,000 --> 00:33:50,680
Speaker 12: Yeah, it's so funny that you say that, because last

720
00:33:50,680 --> 00:33:53,240
Speaker 12: time when the Democrats, we're saying, well, I'm going to

721
00:33:53,320 --> 00:33:56,080
Speaker 12: vote to keep the government funded, but I don't because

722
00:33:56,680 --> 00:33:58,560
Speaker 12: they didn't want to give the power to the president

723
00:33:58,640 --> 00:34:01,160
Speaker 12: to do certain things. And now that they've shut down

724
00:34:01,440 --> 00:34:04,280
Speaker 12: the government, guess what's happening. The president has the power

725
00:34:04,320 --> 00:34:07,080
Speaker 12: to do these things. Whether this is a rogue judge

726
00:34:07,120 --> 00:34:09,920
Speaker 12: or what. I don't know specifically about that, but you know,

727
00:34:10,320 --> 00:34:13,840
Speaker 12: actions have consequences, and the Democrats have now going to

728
00:34:13,920 --> 00:34:15,800
Speaker 12: have consequences of their actions.

729
00:34:15,840 --> 00:34:18,279
Speaker 2: Congressman, thank you very much, appreciate it. Carson, Greg Murphy,

730
00:34:18,360 --> 00:34:21,160
Speaker 2: North Carolina. I'll second that. Joining me here in the

731
00:34:21,200 --> 00:34:23,520
Speaker 2: studio in Washington, d C. As we continue to watch

732
00:34:23,600 --> 00:34:25,200
Speaker 2: a number of events around the world, I want to

733
00:34:25,200 --> 00:34:27,240
Speaker 2: return to the Caribbean here. In the last few minutes

734
00:34:27,239 --> 00:34:30,280
Speaker 2: that we have left, Hurricane Melissa making landfall in Jamaica,

735
00:34:30,320 --> 00:34:32,400
Speaker 2: and my colleague Lauren Rosenthal, covers weather for us here

736
00:34:32,400 --> 00:34:34,239
Speaker 2: at Blomberg News has been tracking that in Lauren, I

737
00:34:34,280 --> 00:34:36,279
Speaker 2: wonder what the latest is on the impact of that

738
00:34:36,320 --> 00:34:38,839
Speaker 2: storm on Jamaica, what we've seen in these last thirty

739
00:34:38,920 --> 00:34:39,680
Speaker 2: forty five minutes.

740
00:34:39,960 --> 00:34:44,600
Speaker 10: Sure, so, Melissa has officially made landfall in Jamaica, packing

741
00:34:44,600 --> 00:34:47,040
Speaker 10: wins of one hundred and eighty five miles an hour.

742
00:34:47,600 --> 00:34:49,279
Speaker 4: This is the most.

743
00:34:49,120 --> 00:34:53,080
Speaker 10: Powerful storm in record keeping going back to the eighteen

744
00:34:53,160 --> 00:34:56,640
Speaker 10: fifties to strike Jamaica, which is no stranger to hurricanes,

745
00:34:57,000 --> 00:35:00,319
Speaker 10: and it is also tied for the strongest storm ever

746
00:35:00,360 --> 00:35:04,480
Speaker 10: to make landfall in the Atlantic Ocean basin. So really

747
00:35:04,520 --> 00:35:10,359
Speaker 10: an extraordinarily strong and dangerous storm currently making its way

748
00:35:10,400 --> 00:35:11,280
Speaker 10: across the island.

749
00:35:12,560 --> 00:35:15,840
Speaker 2: Laura, as you look at this storm, obviously incredibly fast

750
00:35:15,880 --> 00:35:18,680
Speaker 2: wind the process for a lot of rain, what in

751
00:35:18,719 --> 00:35:20,640
Speaker 2: the end will do the most damage in all likelihood

752
00:35:20,680 --> 00:35:21,080
Speaker 2: to Jamaica.

753
00:35:21,200 --> 00:35:22,200
Speaker 3: Is it the rain or the winds.

754
00:35:22,719 --> 00:35:25,840
Speaker 10: I mean, the winds are extraordinary. The island's Prime minister

755
00:35:25,880 --> 00:35:28,640
Speaker 10: has said there are no structures that are capable of

756
00:35:28,680 --> 00:35:33,640
Speaker 10: withstanding winds this strong, you know, in Jamaica or likely

757
00:35:33,760 --> 00:35:36,160
Speaker 10: in most countries that could see a storm like this.

758
00:35:36,320 --> 00:35:40,920
Speaker 10: But we know from history that storm surge and flooding

759
00:35:41,320 --> 00:35:45,080
Speaker 10: is typically the most dangerous part of any storm. Melissa

760
00:35:45,160 --> 00:35:48,839
Speaker 10: was predicted to bring more than thirteen foot thirteen feet

761
00:35:48,880 --> 00:35:52,480
Speaker 10: of storm surge ashore, which is, you know, a story

762
00:35:52,480 --> 00:35:55,680
Speaker 10: and a half tall of water being pushed onto land,

763
00:35:56,080 --> 00:35:58,719
Speaker 10: just given how powerful the storm is, and then up

764
00:35:58,800 --> 00:36:01,080
Speaker 10: to forty inches of rain could fall over Jamaica in

765
00:36:01,120 --> 00:36:01,800
Speaker 10: the coming days.

766
00:36:02,960 --> 00:36:05,600
Speaker 2: You mentioned the kind of unique devastation that Jamaica faces

767
00:36:05,640 --> 00:36:07,400
Speaker 2: here if you kind of look for analogs or there

768
00:36:07,400 --> 00:36:09,600
Speaker 2: are other storms, Have there been other storms like this

769
00:36:09,680 --> 00:36:11,719
Speaker 2: in the past in the Caribbean or elsewhere, kind of

770
00:36:11,719 --> 00:36:14,040
Speaker 2: how does this compare to some of the bigger hurricanes

771
00:36:14,040 --> 00:36:15,280
Speaker 2: that we've experienced and seen.

772
00:36:15,760 --> 00:36:18,080
Speaker 10: This is really interesting, you know, I've talked with experts

773
00:36:18,120 --> 00:36:20,759
Speaker 10: who said in the same way that Hurricane Helene, which

774
00:36:21,160 --> 00:36:24,799
Speaker 10: sort of through an unbelievable amount of rainfall at the

775
00:36:24,800 --> 00:36:30,200
Speaker 10: Appalachian Mountains in North Carolina, causing just sort of unbelievable

776
00:36:30,280 --> 00:36:34,480
Speaker 10: devastation there. Because the storm is moving so slowly and

777
00:36:35,239 --> 00:36:39,239
Speaker 10: folks may not recognize how mountainous and rugged Jamaica's terrain

778
00:36:39,320 --> 00:36:43,799
Speaker 10: really is. We could see substantial flooding and you know,

779
00:36:43,880 --> 00:36:47,879
Speaker 10: communities and settlements being washed away over the next few days.

780
00:36:49,640 --> 00:36:51,200
Speaker 2: I'm curious what you're going to be watching for. So

781
00:36:51,239 --> 00:36:52,920
Speaker 2: this is going to kind of linger over Jamaica for

782
00:36:53,239 --> 00:36:55,560
Speaker 2: a time. But over the next couple of hours, what

783
00:36:55,560 --> 00:36:57,000
Speaker 2: are you going to be watching for or how does

784
00:36:57,040 --> 00:36:57,600
Speaker 2: this develop?

785
00:36:58,280 --> 00:37:01,280
Speaker 10: Yeah, we'll be watching to see, you know, reports of damage.

786
00:37:01,280 --> 00:37:04,000
Speaker 10: We know that the island's largest airports both sit on

787
00:37:04,040 --> 00:37:06,360
Speaker 10: the coast to the north and the south. They're incredibly

788
00:37:06,440 --> 00:37:10,160
Speaker 10: vulnerable to storm surge and to flooding. The island has

789
00:37:10,160 --> 00:37:14,279
Speaker 10: invested in coastal defenses, you know, with the understanding that

790
00:37:14,320 --> 00:37:18,279
Speaker 10: is sea level rises due to climate change, a lot

791
00:37:18,320 --> 00:37:20,680
Speaker 10: of that property is at risk. So we'll be seeing,

792
00:37:21,280 --> 00:37:24,160
Speaker 10: you know, how those defenses have held up, but really

793
00:37:24,200 --> 00:37:28,440
Speaker 10: waiting for news of potential loss of life and injuries

794
00:37:28,480 --> 00:37:29,560
Speaker 10: from the winds and the flooding.

795
00:37:30,840 --> 00:37:31,480
Speaker 3: As you may have heard.

796
00:37:31,520 --> 00:37:33,480
Speaker 2: We were just having a conversation I with the congressman

797
00:37:33,520 --> 00:37:36,160
Speaker 2: here in DC about the federal government shutdown, and I'm

798
00:37:36,200 --> 00:37:39,719
Speaker 2: curious if that's had any impact on how much of

799
00:37:39,760 --> 00:37:42,200
Speaker 2: an understanding we have of this storm. Obviously a lot

800
00:37:42,239 --> 00:37:44,920
Speaker 2: of federal workers who are furloughed or not working or

801
00:37:44,960 --> 00:37:49,040
Speaker 2: not receiving paychecks. Has that diminished our ability to track

802
00:37:49,080 --> 00:37:50,840
Speaker 2: and forecast the path of the storm?

803
00:37:51,040 --> 00:37:53,000
Speaker 10: You know, I will say this was a difficult storm

804
00:37:53,040 --> 00:37:55,799
Speaker 10: to pin down in the early days, like over the

805
00:37:55,840 --> 00:38:00,359
Speaker 10: past week, just because it wasn't very well organized, as

806
00:38:00,400 --> 00:38:03,640
Speaker 10: we call it. That made it hard to forecast where

807
00:38:03,640 --> 00:38:06,480
Speaker 10: it was going. You know, our sources have told us

808
00:38:06,560 --> 00:38:10,600
Speaker 10: that the US National Hurricane Center was accepted from the shutdowns,

809
00:38:10,640 --> 00:38:14,680
Speaker 10: so folks are working there long hours to predict the

810
00:38:14,719 --> 00:38:17,560
Speaker 10: path of the storm and give updated reports. And as

811
00:38:17,600 --> 00:38:21,920
Speaker 10: you said, are not on a list of workers who

812
00:38:22,000 --> 00:38:22,960
Speaker 10: will receive pay.

813
00:38:24,040 --> 00:38:27,000
Speaker 2: And for those in the US maybe in coastalarias watching

814
00:38:27,000 --> 00:38:28,799
Speaker 2: all of this unfold, does this pose any threat the

815
00:38:28,800 --> 00:38:30,040
Speaker 2: storm pose any threat to them?

816
00:38:30,400 --> 00:38:34,719
Speaker 10: The storm's not predicted to make landfall to pass directly

817
00:38:34,760 --> 00:38:38,200
Speaker 10: over communities in the US, but eastern beaches will see

818
00:38:38,640 --> 00:38:42,799
Speaker 10: rough surf unusually heavy wave action as the storm makes

819
00:38:42,800 --> 00:38:45,000
Speaker 10: its way back across the Atlantic toward Europe.

820
00:38:46,120 --> 00:38:48,280
Speaker 3: Lauren, thank you very much for the reporting. That's Lauren Rosenthal.

821
00:38:48,400 --> 00:38:50,279
Speaker 2: She covers weather for us here at Bloomberg News as

822
00:38:50,360 --> 00:38:54,440
Speaker 2: Hurricane Melissa, that category five storm making landfall in Jamaica.

823
00:38:54,520 --> 00:38:55,520
Speaker 3: Just a massive storm.

824
00:38:55,560 --> 00:38:57,560
Speaker 2: As you describe those wins of one hundred and eighty

825
00:38:57,600 --> 00:38:59,560
Speaker 2: five miles per hour, I saw reporting that could get

826
00:38:59,640 --> 00:39:02,520
Speaker 2: up to two hundred miles per hour, so really promising

827
00:39:02,560 --> 00:39:05,600
Speaker 2: to wreak some severe damage on the island nation up Jamaican.

828
00:39:05,640 --> 00:39:08,080
Speaker 2: We'll continue to follow that for you here on Bloomberg Television.

829
00:39:08,160 --> 00:39:10,600
Speaker 3: Thanks for listening to the Balance of Power podcast.

830
00:39:11,239 --> 00:39:14,360
Speaker 2: Make sure to subscribe if you haven't already, at Apple, Spotify,

831
00:39:14,440 --> 00:39:17,040
Speaker 2: or wherever you get your podcasts, and you can find

832
00:39:17,080 --> 00:39:20,320
Speaker 2: us live every weekday from Washington, DC at noontime Eastern

833
00:39:20,640 --> 00:39:22,120
Speaker 2: at Bloomberg dot com.