1 00:00:01,960 --> 00:00:06,240 Speaker 1: Live from our nation's capital. This is Bloomberg Sound on. 2 00:00:07,400 --> 00:00:10,399 Speaker 1: This is historic progress in our economy out of the 3 00:00:10,480 --> 00:00:12,920 Speaker 1: worst crisis in a hundred years. The key to the 4 00:00:12,920 --> 00:00:15,760 Speaker 1: new innovation technology is actually coming from the oil and 5 00:00:15,800 --> 00:00:18,119 Speaker 1: gas industry. How much funny do we need for a 6 00:00:18,320 --> 00:00:21,560 Speaker 1: rural broadman? How much money to redeep the bridges? Bloomberg 7 00:00:21,800 --> 00:00:25,800 Speaker 1: Sound on, the insiders, the influencers, The insiders wait and 8 00:00:25,840 --> 00:00:29,040 Speaker 1: we'll continue rising and filled. The supply constraints up for 9 00:00:29,320 --> 00:00:32,320 Speaker 1: Insiden's economic plan is certainly working. The investments in the 10 00:00:32,320 --> 00:00:36,839 Speaker 1: American Rescue Plan into childcare at being impactful. Schloomberg Sound 11 00:00:36,880 --> 00:00:42,159 Speaker 1: On with Joe Matthew on Bloomberg Radio Live from Washington. 12 00:00:42,240 --> 00:00:44,479 Speaker 1: Thanks for meeting us here at the threshold of the 13 00:00:44,520 --> 00:00:48,720 Speaker 1: weekend job's day. The numbers were better than expected. Coming up, 14 00:00:48,720 --> 00:00:52,720 Speaker 1: we'll talk about the June report with Labor Secretary Marty Walsh, 15 00:00:52,800 --> 00:00:56,440 Speaker 1: and we'll hear reaction from Congressman Kevin Brady, Republican from 16 00:00:56,480 --> 00:00:59,560 Speaker 1: Texas ranking member on the Ways and Means Committee. Later 17 00:00:59,640 --> 00:01:02,760 Speaker 1: we'll also connect with Congresswoman Debbie Wasserman Schultz for the 18 00:01:02,840 --> 00:01:06,600 Speaker 1: latest in Surfside Florida. And thank you for spending part 19 00:01:06,640 --> 00:01:08,319 Speaker 1: of your Friday with us, the start of what I 20 00:01:08,360 --> 00:01:11,440 Speaker 1: hope is a long weekend for you. President Biden was 21 00:01:11,480 --> 00:01:14,360 Speaker 1: feeling the holiday spirit when he reached the podium this 22 00:01:14,400 --> 00:01:18,160 Speaker 1: morning take a victory lap on jobs. This morning, we 23 00:01:18,240 --> 00:01:22,560 Speaker 1: learned that in June, our economy created eight hundred and 24 00:01:22,640 --> 00:01:27,840 Speaker 1: fifty thousand jobs, eight hundred fifty thousand jobs. Wages went 25 00:01:27,920 --> 00:01:31,560 Speaker 1: up for American workers three tenths of a percent, to 26 00:01:31,640 --> 00:01:35,120 Speaker 1: be exact, and the President pointed to more growth on 27 00:01:35,240 --> 00:01:38,720 Speaker 1: the way We're gonna create jobs repairing rows and bridges, 28 00:01:39,200 --> 00:01:45,480 Speaker 1: replacing our nation's lead water pipes, making our power grid 29 00:01:45,560 --> 00:01:50,000 Speaker 1: more reliable, delivering high speed internet to every American home, 30 00:01:50,240 --> 00:01:55,480 Speaker 1: rural and urban, referring, of course, to the infrastructure deal 31 00:01:55,560 --> 00:01:59,400 Speaker 1: that he is pursuing. Though Biden made clear that post 32 00:01:59,720 --> 00:02:03,080 Speaker 1: CO off its growth is accelerating. In February, the Congressional 33 00:02:03,080 --> 00:02:08,080 Speaker 1: Budget Office projected economic growth would be three point seven. 34 00:02:09,400 --> 00:02:15,120 Speaker 1: Yesterday they double that number to seven point in large 35 00:02:15,160 --> 00:02:17,440 Speaker 1: part thanks to the American Rescue Plan on our work 36 00:02:17,520 --> 00:02:21,000 Speaker 1: to defeat the virus. The last time the economy grew 37 00:02:21,000 --> 00:02:25,400 Speaker 1: at this read was and Ronald Reagan was telling us 38 00:02:25,680 --> 00:02:30,399 Speaker 1: it's morning in America. Well, it's getting close to afternoon here. 39 00:02:30,440 --> 00:02:34,280 Speaker 1: The sun is coming out. It is actually so afternoon 40 00:02:34,320 --> 00:02:37,560 Speaker 1: in America. Is that the line now works pretty well 41 00:02:37,639 --> 00:02:41,200 Speaker 1: for this show and we're joining to talk about the 42 00:02:41,240 --> 00:02:44,040 Speaker 1: jobs report now where the job market might be heading 43 00:02:44,120 --> 00:02:49,280 Speaker 1: from here with the Labor Secretary Marty Walsh. Welcome back 44 00:02:49,280 --> 00:02:53,160 Speaker 1: Secretary to Bloomberg Radio. Thanks for having me today. Better 45 00:02:53,200 --> 00:02:57,079 Speaker 1: than expected. As the headline, eight fifty thousand jobs. Does 46 00:02:57,080 --> 00:02:59,600 Speaker 1: this mean people are becoming more comfortable going back to 47 00:02:59,639 --> 00:03:01,919 Speaker 1: work or is it higher wages? I see a three 48 00:03:01,919 --> 00:03:05,240 Speaker 1: tense increase for the month. Well, I think there's a 49 00:03:05,280 --> 00:03:08,040 Speaker 1: lot of factors here. For first and foremost, this is 50 00:03:08,080 --> 00:03:11,840 Speaker 1: a good, good, solid report. UM. I think it shows 51 00:03:11,919 --> 00:03:14,240 Speaker 1: a few things. Number one, it shows that President Biden's 52 00:03:14,240 --> 00:03:18,160 Speaker 1: economic plan is certainly working. UM. It shows that the 53 00:03:18,240 --> 00:03:22,560 Speaker 1: investments in the American Rescue Plan into childcare have been 54 00:03:22,760 --> 00:03:26,800 Speaker 1: being effect impactful. It means that the vaccination pushed that 55 00:03:26,840 --> 00:03:30,959 Speaker 1: the President has been doing around the country is also working. 56 00:03:30,960 --> 00:03:34,120 Speaker 1: I was in Indiana last week and I was, you know, 57 00:03:34,320 --> 00:03:38,480 Speaker 1: advocating on behalf of getting people vaccinated. Um. It shows 58 00:03:38,560 --> 00:03:42,560 Speaker 1: that people are definitely feeling more confident about entering to 59 00:03:42,640 --> 00:03:46,960 Speaker 1: the workforce. UM, it's the steady wage growth is actually 60 00:03:47,040 --> 00:03:51,040 Speaker 1: obviously good for workers. UM. And also we haven't seen 61 00:03:51,080 --> 00:03:55,080 Speaker 1: an uptick in job search is due to states threatening 62 00:03:55,200 --> 00:03:57,680 Speaker 1: or cutting unemployment benefits early. So we haven't seen any 63 00:03:57,680 --> 00:04:00,760 Speaker 1: of that. There's no there's no there's no proof for that. UM. 64 00:04:00,840 --> 00:04:02,400 Speaker 1: On the other side, there's a little bit of an 65 00:04:02,440 --> 00:04:07,720 Speaker 1: other side here. UM, we're still facing inequities. Unemployment rates 66 00:04:07,840 --> 00:04:10,800 Speaker 1: in the community of color and women remain essentially unchanged. 67 00:04:10,960 --> 00:04:15,160 Speaker 1: Our unemployment rate in the black community is nine, unemployment 68 00:04:15,240 --> 00:04:19,279 Speaker 1: in the Hispanic community seven. So it shows this report 69 00:04:19,320 --> 00:04:22,040 Speaker 1: shows that this is not a time to let up. Now. 70 00:04:22,080 --> 00:04:24,800 Speaker 1: We need to continue to double down and continue to 71 00:04:24,800 --> 00:04:27,440 Speaker 1: push forward and and and get the get continue to 72 00:04:27,440 --> 00:04:30,000 Speaker 1: get the virus under control so that or not to 73 00:04:30,040 --> 00:04:34,600 Speaker 1: see an expansion of the city expand the virus grow. UM. 74 00:04:34,720 --> 00:04:36,920 Speaker 1: That that woman that makes the big difference here in 75 00:04:36,640 --> 00:04:40,960 Speaker 1: our economy, moving us forward. Moody's Analytics projected two point 76 00:04:41,000 --> 00:04:44,440 Speaker 1: four million jobs in the second quarter. We're about six 77 00:04:45,160 --> 00:04:47,800 Speaker 1: thousand jobs below that number. A lot of companies, as 78 00:04:47,839 --> 00:04:51,920 Speaker 1: you know, secretaries say they can't fill open positions. So 79 00:04:51,960 --> 00:04:53,880 Speaker 1: what is the answer to that, If if it's not 80 00:04:54,080 --> 00:04:58,440 Speaker 1: ending unemployment benefits? Is it waiting until students go back 81 00:04:58,480 --> 00:05:02,240 Speaker 1: to school in September? How do we fill all these openings? No, 82 00:05:02,360 --> 00:05:05,120 Speaker 1: I think that the answer that was not really an answer, 83 00:05:05,160 --> 00:05:06,919 Speaker 1: But the comments I have to that question is the 84 00:05:06,960 --> 00:05:10,640 Speaker 1: fact that we're still living in a pandemic period. UM. 85 00:05:10,680 --> 00:05:14,480 Speaker 1: You know, this is unlike anything we've very ever experienced, UM, 86 00:05:14,520 --> 00:05:17,479 Speaker 1: at least in modern history. UM. You can't compare this 87 00:05:17,560 --> 00:05:21,000 Speaker 1: to a recession. UM, you're talking about, you know, people 88 00:05:21,040 --> 00:05:24,120 Speaker 1: who were impacted by the virus, people that might have 89 00:05:24,120 --> 00:05:28,440 Speaker 1: side effects from the virus. Uh. Six thousand Americans lost 90 00:05:28,480 --> 00:05:31,360 Speaker 1: their life due to the virus. So I think we're 91 00:05:31,400 --> 00:05:34,880 Speaker 1: trying to we're trying to find, um, the right formula 92 00:05:34,920 --> 00:05:36,760 Speaker 1: and the right numbers to talk about. But I still 93 00:05:36,800 --> 00:05:40,560 Speaker 1: think that the virus is still having an impact here. UM. 94 00:05:40,640 --> 00:05:43,120 Speaker 1: But I think as we move forward, this report shows 95 00:05:44,040 --> 00:05:47,440 Speaker 1: that that we've seen a few more women going into 96 00:05:47,440 --> 00:05:49,719 Speaker 1: the workforce this month in the past, but still knock 97 00:05:49,760 --> 00:05:51,960 Speaker 1: at the level that we need and debate. So this 98 00:05:52,120 --> 00:05:55,040 Speaker 1: still work to be done. We've heard at least anecdotal 99 00:05:55,040 --> 00:05:57,960 Speaker 1: evidence of more people triggering retirement maybe a couple of 100 00:05:58,080 --> 00:06:00,600 Speaker 1: years before they had planned in the long term because 101 00:06:00,600 --> 00:06:04,600 Speaker 1: of COVID. Getting back to the impact of the pandemic, Secretary, 102 00:06:04,680 --> 00:06:06,520 Speaker 1: can you speak to us about that. How many people 103 00:06:06,520 --> 00:06:09,160 Speaker 1: are retiring early? I don't. I don't know. I don't 104 00:06:09,160 --> 00:06:12,760 Speaker 1: have the numbers. But obviously it makes it could make 105 00:06:12,760 --> 00:06:15,080 Speaker 1: sense in a lot of cases. But I mean, who, 106 00:06:15,240 --> 00:06:17,479 Speaker 1: I don't have the number. You know, a lot of 107 00:06:17,480 --> 00:06:19,280 Speaker 1: people have been working from home for the past year. 108 00:06:19,360 --> 00:06:22,159 Speaker 1: And if if you're an older person and you're eligible 109 00:06:22,200 --> 00:06:24,679 Speaker 1: to get a retirement or you have a savings people 110 00:06:24,760 --> 00:06:27,080 Speaker 1: might be making that decision. But I don't have actual number. 111 00:06:27,320 --> 00:06:29,760 Speaker 1: Will get back to on that one. Speaking of wages, 112 00:06:29,880 --> 00:06:33,440 Speaker 1: the FEDS Bage Book survey recently pointed to a contact 113 00:06:33,480 --> 00:06:37,719 Speaker 1: in Boston of all cities that referred to at pay 114 00:06:37,800 --> 00:06:40,560 Speaker 1: raise in one case. Is that the kind of movement 115 00:06:40,600 --> 00:06:43,120 Speaker 1: that we need to see to get people back? I don't. 116 00:06:43,279 --> 00:06:46,320 Speaker 1: I don't necessarily think across the board, but wage wage, increase, 117 00:06:46,360 --> 00:06:49,000 Speaker 1: in wage growth is good for workers. So I will 118 00:06:49,040 --> 00:06:52,560 Speaker 1: advocate for that any every day, all day. I think 119 00:06:52,600 --> 00:06:55,240 Speaker 1: that you know, workers, uh, you know, we need to 120 00:06:55,440 --> 00:06:59,039 Speaker 1: President has been very clear on strengthening the middle class 121 00:06:59,080 --> 00:07:01,720 Speaker 1: and building back better and the one of the central 122 00:07:01,760 --> 00:07:04,839 Speaker 1: teams around building back better is creating a stronger middle 123 00:07:04,839 --> 00:07:07,159 Speaker 1: class and allowing people to get into the middle class. 124 00:07:07,160 --> 00:07:11,000 Speaker 1: And and you know, many families uh that their wages 125 00:07:11,040 --> 00:07:13,080 Speaker 1: do not allow them the opportunity to get into the 126 00:07:13,080 --> 00:07:15,200 Speaker 1: middle class. And I think that anything that we can 127 00:07:15,200 --> 00:07:17,840 Speaker 1: do to to to encourage that and boost that, certainly 128 00:07:17,920 --> 00:07:20,760 Speaker 1: we're going to be pushing that. And also in the 129 00:07:20,840 --> 00:07:24,240 Speaker 1: Cares of Economy package that there's money in there for 130 00:07:24,440 --> 00:07:29,040 Speaker 1: job training, apprenticeship programs, um you know, the people's ability 131 00:07:29,120 --> 00:07:31,080 Speaker 1: right to organize, So all of that is on the 132 00:07:31,080 --> 00:07:34,080 Speaker 1: table to try and get people paid better wages and 133 00:07:34,120 --> 00:07:37,120 Speaker 1: allow them the opportunity to be able to support their family. 134 00:07:37,200 --> 00:07:39,960 Speaker 1: And and you know, and be comfortable. We're talking with 135 00:07:40,040 --> 00:07:43,720 Speaker 1: Labor Secretary Marty Walsh on Bloomberg Radio. We've been talking 136 00:07:43,760 --> 00:07:46,680 Speaker 1: about the Infrastructure Plan a lot. Secretary, you and I 137 00:07:46,720 --> 00:07:50,600 Speaker 1: talked about it last week. That plan. President Biden's plan 138 00:07:50,720 --> 00:07:53,840 Speaker 1: is promising many more jobs, many in construction, many in 139 00:07:53,880 --> 00:07:56,640 Speaker 1: the building trades. Do you have a sense of of 140 00:07:56,760 --> 00:07:59,680 Speaker 1: how large that incoming job pool might be? How do 141 00:07:59,720 --> 00:08:02,760 Speaker 1: you fill all those openings when we're having trouble restoring 142 00:08:03,440 --> 00:08:07,440 Speaker 1: jobs from before the pandemic. Well, it's gonna be key 143 00:08:07,560 --> 00:08:10,760 Speaker 1: that we have training with that. And when you think 144 00:08:10,800 --> 00:08:13,880 Speaker 1: about this is a this is an opportunity for us 145 00:08:13,960 --> 00:08:17,160 Speaker 1: to create the whole generation of young people to go 146 00:08:17,240 --> 00:08:20,800 Speaker 1: into a skilled trade, to be able to raise their family, 147 00:08:20,880 --> 00:08:23,480 Speaker 1: earn good, good wages, and good living. That the infrastructure 148 00:08:23,480 --> 00:08:25,840 Speaker 1: plan will be spent over the next ten years, so 149 00:08:25,920 --> 00:08:28,440 Speaker 1: it's not like at all hits the street the same day. 150 00:08:28,480 --> 00:08:30,800 Speaker 1: So we we are really going to have to focus 151 00:08:30,880 --> 00:08:34,240 Speaker 1: on making sure that our apprenticeship programs and our job 152 00:08:34,280 --> 00:08:38,079 Speaker 1: training programs are ready for uh, the ability to train 153 00:08:38,240 --> 00:08:41,040 Speaker 1: lots of people for these industries. And then there's going 154 00:08:41,120 --> 00:08:42,839 Speaker 1: to be a spinoff as well. As you know, in 155 00:08:43,120 --> 00:08:46,760 Speaker 1: our old city, UH, you build a bridge and around 156 00:08:46,760 --> 00:08:49,160 Speaker 1: that bridge, you can create a new neighborhood. And there's 157 00:08:49,200 --> 00:08:51,719 Speaker 1: opportunities for us to be able to do that all 158 00:08:51,760 --> 00:08:55,440 Speaker 1: across America. So I think that you know, job training 159 00:08:55,480 --> 00:08:58,440 Speaker 1: is going to be key to that, but also we 160 00:08:58,480 --> 00:09:01,520 Speaker 1: will have the workforce. It's a matter of having people 161 00:09:01,559 --> 00:09:03,599 Speaker 1: think about what the future might be. Right now, we 162 00:09:03,679 --> 00:09:06,720 Speaker 1: have you know, millions of young people in high school 163 00:09:06,720 --> 00:09:08,760 Speaker 1: all across America. We going to those high school and 164 00:09:08,800 --> 00:09:11,400 Speaker 1: talk about going into the trades. There's an opportunity that 165 00:09:11,440 --> 00:09:14,880 Speaker 1: there's a pathway, so young people's pathway can be a 166 00:09:14,880 --> 00:09:18,160 Speaker 1: pathway to college or a pathway to a career for 167 00:09:18,200 --> 00:09:20,559 Speaker 1: those who don't know is of course the Secretary is 168 00:09:20,600 --> 00:09:23,280 Speaker 1: referring to the great city of Boston and Secretary Walsh, 169 00:09:23,320 --> 00:09:26,720 Speaker 1: I wonder if you're heading home for the holiday weekend. Uh. Yeah, Actually, 170 00:09:26,760 --> 00:09:29,720 Speaker 1: I'm going to uh Philadelphia today and I'm gonna be 171 00:09:29,720 --> 00:09:33,480 Speaker 1: in New Jersey, uh doing some doing some stops to 172 00:09:33,559 --> 00:09:36,880 Speaker 1: be able to talk about you know, vaccines and a 173 00:09:36,880 --> 00:09:38,960 Speaker 1: whole bunch of different things. So but I will be, 174 00:09:39,040 --> 00:09:41,880 Speaker 1: I'll be, I'll be around the house sometime this weekend 175 00:09:41,920 --> 00:09:43,960 Speaker 1: before it's over all. Right. This is good because you know, 176 00:09:44,000 --> 00:09:46,920 Speaker 1: Bloomberg is deployed at Tanglewood right now for the Boston Pops. 177 00:09:46,920 --> 00:09:49,080 Speaker 1: We're gonna be on Boston Common for the fireworks. And 178 00:09:49,120 --> 00:09:51,400 Speaker 1: I just wonder if you have a message for our 179 00:09:51,440 --> 00:09:56,199 Speaker 1: listeners in Boston for this Fourth of July. Yeah, enjoy it. Uh, 180 00:09:56,240 --> 00:09:59,680 Speaker 1: you know, put my old hat on. Be safe, be responsible, 181 00:10:00,120 --> 00:10:03,800 Speaker 1: don't be drinking. All the messages that I'd be saying 182 00:10:03,840 --> 00:10:06,040 Speaker 1: if I were the mayor, but enjoy, enjoy, the city. 183 00:10:06,120 --> 00:10:08,400 Speaker 1: The city of Boston is great and and if you're 184 00:10:08,520 --> 00:10:11,360 Speaker 1: entangle would enjoy the pops. They're amazing. And next year, 185 00:10:11,400 --> 00:10:14,600 Speaker 1: hopefully we'll be able to reunite everyone back of the Esplinat. 186 00:10:14,960 --> 00:10:16,800 Speaker 1: I like the sound of that. I'll meet you there, 187 00:10:17,120 --> 00:10:19,080 Speaker 1: Mr Mayor. I didn't call you a mayor the whole 188 00:10:19,080 --> 00:10:23,280 Speaker 1: time until now. It ill the next year, Secretary Marty Walsh, 189 00:10:23,280 --> 00:10:25,200 Speaker 1: thanks for being with us here on Bloomberg sound on 190 00:10:25,720 --> 00:10:29,800 Speaker 1: and happy for thanks. Looking forward to being there. I 191 00:10:29,800 --> 00:10:32,120 Speaker 1: wish I was there this weekend. I tell you the truth, 192 00:10:32,600 --> 00:10:35,920 Speaker 1: but that's why you know, watch it on Bloomberg. Looking 193 00:10:35,960 --> 00:10:42,559 Speaker 1: inside this report, big increase for leisure and hospitality one 194 00:10:42,600 --> 00:10:46,280 Speaker 1: of the highlights here three forty three thousand jobs added, 195 00:10:46,320 --> 00:10:48,400 Speaker 1: more than half in restaurants and bars. As I read 196 00:10:48,440 --> 00:10:52,120 Speaker 1: on the terminal. Hotels and other accommodations added about seventy 197 00:10:52,160 --> 00:10:56,520 Speaker 1: five thousand jobs, as did arts, entertainment and recreation entities. 198 00:10:56,559 --> 00:11:01,720 Speaker 1: So yeah, we're reopening. People are getting out local and 199 00:11:01,760 --> 00:11:04,400 Speaker 1: state government education employment increased by quite a bit. Who 200 00:11:04,400 --> 00:11:08,600 Speaker 1: wandered in thirty thousand, Retail up sixty seven thousand. When's 201 00:11:08,640 --> 00:11:11,360 Speaker 1: the last time you're in a shopping mall strong growth 202 00:11:11,360 --> 00:11:15,160 Speaker 1: and clothing and merchandise stores. And as I also read 203 00:11:15,360 --> 00:11:18,559 Speaker 1: on the terminal from Bloomberg's Lisa Brahmwitz, of course you 204 00:11:18,600 --> 00:11:21,400 Speaker 1: watch every morning, listen every morning on surveillance. The headline 205 00:11:21,440 --> 00:11:26,880 Speaker 1: extra benefits are not holding back the economy, Lisa writes, 206 00:11:26,880 --> 00:11:29,440 Speaker 1: with overall employment of period to bounce back. The argument 207 00:11:29,440 --> 00:11:33,120 Speaker 1: by some politicians that overly generous enhanced jobless benefits are 208 00:11:33,520 --> 00:11:36,920 Speaker 1: impeding the recovery is losing steam. Moreover, she writes, the 209 00:11:37,040 --> 00:11:40,600 Speaker 1: extra cash will turn out to be a good thing 210 00:11:40,679 --> 00:11:44,760 Speaker 1: in the long run. We're gonna get reaction on all 211 00:11:44,800 --> 00:11:46,599 Speaker 1: of this coming up from the top Republican on the 212 00:11:46,640 --> 00:11:50,440 Speaker 1: House Ways and Means Committee. Stay right here, Bloomberg sound on, 213 00:11:50,520 --> 00:11:53,520 Speaker 1: because Congressman Kevin Brady of Texas is on the way. 214 00:11:53,520 --> 00:11:56,600 Speaker 1: And next stay with us. I'm Joe Matthew. This is Bloomberg. 215 00:12:13,480 --> 00:12:18,920 Speaker 1: This is Bloomberg Son on with Joe Matthew on Bloomberg Radio. 216 00:12:20,880 --> 00:12:23,559 Speaker 1: It was the biggest indicator of the month, the June 217 00:12:23,880 --> 00:12:27,360 Speaker 1: jobs report, and after discussing it with Secretary Marty Walsh 218 00:12:27,360 --> 00:12:29,920 Speaker 1: a few minutes ago, we bring in Congressman Kevin Brady, 219 00:12:29,960 --> 00:12:33,079 Speaker 1: now Republican from Texas to talk about this and the 220 00:12:33,120 --> 00:12:37,360 Speaker 1: potential impact of rising taxes. Welcome back, Congressman to Bloomberg Radio. 221 00:12:38,080 --> 00:12:41,040 Speaker 1: Good to see jail, Thanks for having me absolutely happy 222 00:12:41,120 --> 00:12:43,800 Speaker 1: jobs today. I want to start by asking you about 223 00:12:43,840 --> 00:12:46,400 Speaker 1: the jobs report this morning. I know you were bracing 224 00:12:46,400 --> 00:12:50,480 Speaker 1: for a disappointing number. We got stronger than expected positions eight. 225 00:12:52,040 --> 00:12:54,560 Speaker 1: Is that encouraging you to see things move in this direction? 226 00:12:55,200 --> 00:12:58,400 Speaker 1: We certainly needed better jobs reports than April May, which 227 00:12:58,400 --> 00:13:03,000 Speaker 1: were really discouraging. UM So yes, obviously this is sort 228 00:13:03,040 --> 00:13:06,120 Speaker 1: of a summer of stimulus. I think we're gonna see 229 00:13:06,320 --> 00:13:09,400 Speaker 1: these numbers a couple of things though we're in me One, 230 00:13:09,640 --> 00:13:13,480 Speaker 1: long term unemployment got worse, unemployment for all minorities and 231 00:13:13,480 --> 00:13:16,880 Speaker 1: the less skilled got worse. The President right now, even 232 00:13:16,880 --> 00:13:20,880 Speaker 1: with the June numbers, is about seven hundred thousand jobs 233 00:13:20,960 --> 00:13:24,400 Speaker 1: short of what he promised at this point, and I 234 00:13:24,440 --> 00:13:27,280 Speaker 1: still worry we have a lot of workers still on 235 00:13:27,320 --> 00:13:30,160 Speaker 1: the sidelines that are not coming off. And wages went up, 236 00:13:30,200 --> 00:13:33,000 Speaker 1: which I think is a good sign. But prices have 237 00:13:33,040 --> 00:13:36,400 Speaker 1: been increasing fast from that every month this year. So 238 00:13:36,679 --> 00:13:40,040 Speaker 1: we'll know those numbers a little later, uh here in July. 239 00:13:40,240 --> 00:13:42,720 Speaker 1: So there's some troubling signs that I still I think 240 00:13:42,760 --> 00:13:47,280 Speaker 1: this job's recovery can be surging much much better than this. 241 00:13:48,240 --> 00:13:50,920 Speaker 1: I just spoke a short time ago with Labor Secretary 242 00:13:50,960 --> 00:13:55,640 Speaker 1: Marty Walsh and asked him about the prospect of increased 243 00:13:55,679 --> 00:13:59,880 Speaker 1: unemployment benefits keeping people from re entering the workforce, which 244 00:13:59,880 --> 00:14:02,640 Speaker 1: is something that we've heard about quite a lot. He says, 245 00:14:02,679 --> 00:14:04,839 Speaker 1: there's no evidence of that, and there are a lot 246 00:14:04,880 --> 00:14:08,840 Speaker 1: of reasons, from child careative, people recovering from COVID getting 247 00:14:08,840 --> 00:14:11,480 Speaker 1: over fears to return to the office. Do you think 248 00:14:11,480 --> 00:14:14,760 Speaker 1: he's right about that. No, he's an absolute denial and 249 00:14:14,800 --> 00:14:17,199 Speaker 1: even sectary. Yelling the other day from the Ways and 250 00:14:17,240 --> 00:14:20,560 Speaker 1: Means Committee acknowledged these are real problems. In fact, our 251 00:14:20,600 --> 00:14:23,160 Speaker 1: answer was, you know, states are starting to get off it, 252 00:14:23,240 --> 00:14:25,400 Speaker 1: and by the way, they're gonna expire soon, so it 253 00:14:25,400 --> 00:14:28,360 Speaker 1: shouldn't be a problem much longer. But you you ask 254 00:14:28,520 --> 00:14:31,920 Speaker 1: anyone back home, and and most most people can see 255 00:14:31,960 --> 00:14:35,920 Speaker 1: this in their own community. Those unemployment benefits in half 256 00:14:35,960 --> 00:14:39,280 Speaker 1: the states still are paying almost half of Americans more 257 00:14:39,320 --> 00:14:41,680 Speaker 1: to stay home than to work. And so look, they're 258 00:14:41,720 --> 00:14:44,760 Speaker 1: not lazy, they're just getting rewarded to not search for 259 00:14:44,800 --> 00:14:47,040 Speaker 1: that job, and it's a it's a real problem for 260 00:14:47,080 --> 00:14:49,880 Speaker 1: our recovery. Do you expect then a surge of workers 261 00:14:49,960 --> 00:14:52,360 Speaker 1: to come back after labor Day? I think you're gonna 262 00:14:52,400 --> 00:14:54,560 Speaker 1: start to see. I think you're starting to see in 263 00:14:54,600 --> 00:14:58,320 Speaker 1: the July jobs report, especially in those Republican states that 264 00:14:58,520 --> 00:15:02,240 Speaker 1: ended those extra bonuses federal bonuses on unemployment, you're gonna 265 00:15:02,280 --> 00:15:06,440 Speaker 1: see those uh improving much faster than the other states 266 00:15:06,600 --> 00:15:09,680 Speaker 1: in the interim. But after that, yes, absolutely, I think 267 00:15:09,720 --> 00:15:13,440 Speaker 1: it's gonna encourage people to reconnect to their jobs. And look, 268 00:15:13,560 --> 00:15:15,920 Speaker 1: you just have to go into restaurants that are half open. 269 00:15:16,640 --> 00:15:19,560 Speaker 1: Businesses are telling me, including these fly chains, they just 270 00:15:19,640 --> 00:15:22,400 Speaker 1: can't find the workers they need command the production line. 271 00:15:22,480 --> 00:15:26,160 Speaker 1: So that's driving inflation, slower deliveries. It's it is a 272 00:15:26,240 --> 00:15:29,440 Speaker 1: real problem. Congress been more than a hundred countries have 273 00:15:29,600 --> 00:15:33,320 Speaker 1: endorsed a global minimum tax. As ranking member of Ways 274 00:15:33,320 --> 00:15:35,160 Speaker 1: and means, I need to ask you about this, and 275 00:15:35,200 --> 00:15:37,720 Speaker 1: I know that you're not a fan of this idea. 276 00:15:37,760 --> 00:15:41,920 Speaker 1: You called this a giant surrender for the US. Wouldn't 277 00:15:42,000 --> 00:15:44,760 Speaker 1: this though level or at least attempt to level the 278 00:15:44,800 --> 00:15:49,480 Speaker 1: playing field for multinational companies? So no, And here's why, one, 279 00:15:49,560 --> 00:15:52,480 Speaker 1: President Biden is proposing a global minimum tax in America 280 00:15:53,040 --> 00:15:57,880 Speaker 1: that's almost higher than the ones they're asking from the 281 00:15:57,920 --> 00:16:00,600 Speaker 1: rest of the world. That means you're gonna see big 282 00:16:00,600 --> 00:16:05,120 Speaker 1: incentives to move jobs investment overseas. Secondly, it's a concession 283 00:16:05,560 --> 00:16:08,760 Speaker 1: from the President that the corporate tax rates he's seeking 284 00:16:09,040 --> 00:16:12,200 Speaker 1: is gonna make America less competitive and sort of begging 285 00:16:12,200 --> 00:16:15,240 Speaker 1: our our global competitors, can you help us out a bit. 286 00:16:15,560 --> 00:16:17,720 Speaker 1: And I think the final point here is this is 287 00:16:17,800 --> 00:16:20,560 Speaker 1: really premature. There are a lot of countries that are 288 00:16:20,600 --> 00:16:24,480 Speaker 1: not signing on to this global minimum tax, so far 289 00:16:24,600 --> 00:16:27,600 Speaker 1: from a dumb done deal. Secondly, the whole goal of 290 00:16:27,680 --> 00:16:30,240 Speaker 1: is too is to make sure other countries can't levy 291 00:16:30,240 --> 00:16:34,400 Speaker 1: a digital services tax, in other words, target American companies 292 00:16:34,720 --> 00:16:38,800 Speaker 1: and our tax base. And there's a number of major countries, 293 00:16:38,840 --> 00:16:41,480 Speaker 1: including all of Europe, who says we're not going along 294 00:16:41,520 --> 00:16:44,280 Speaker 1: with that deal. We're gonna we're gonna do the global tax, 295 00:16:44,480 --> 00:16:47,080 Speaker 1: and we're going to take a piece of the American 296 00:16:47,360 --> 00:16:50,040 Speaker 1: tax base. So I'm just and it this has to 297 00:16:50,080 --> 00:16:53,000 Speaker 1: go through Congress. I think this is a long way 298 00:16:53,400 --> 00:16:56,200 Speaker 1: from a done deal. Well, I suspect that it will 299 00:16:56,240 --> 00:16:59,080 Speaker 1: come before your committee, right, Does the Republican Party have 300 00:16:59,240 --> 00:17:02,160 Speaker 1: will to block us? Yes? We do. In fact, we 301 00:17:02,200 --> 00:17:04,840 Speaker 1: have a plan that we're implementing right now to block 302 00:17:05,280 --> 00:17:10,480 Speaker 1: these crippling tax increases on job creators, investors, working families. 303 00:17:10,520 --> 00:17:13,640 Speaker 1: And I'll tell you right now, I believe we will 304 00:17:13,680 --> 00:17:18,200 Speaker 1: have the votes to block tax increases moving forward from 305 00:17:18,240 --> 00:17:20,640 Speaker 1: the Biden administration. So I just say, more and more 306 00:17:20,640 --> 00:17:24,040 Speaker 1: people understand working our way out of the pandemic. Make 307 00:17:24,119 --> 00:17:28,440 Speaker 1: America and the least competitive countries on the planet, taxing 308 00:17:28,560 --> 00:17:33,359 Speaker 1: job creators, discouraging local investment, man, that's going to hurt 309 00:17:33,640 --> 00:17:36,800 Speaker 1: our long term economic growth. I don't want to get 310 00:17:36,840 --> 00:17:39,240 Speaker 1: to q Congressman, but if you were able to block 311 00:17:39,280 --> 00:17:43,320 Speaker 1: a proposed twenty eight percent or say it's corporate tax 312 00:17:43,440 --> 00:17:47,000 Speaker 1: rate in Congress, wouldn't fifteen be better than that? So 313 00:17:47,080 --> 00:17:50,560 Speaker 1: wouldn't on our corporate rate be better? Or a global 314 00:17:50,640 --> 00:17:54,199 Speaker 1: minimum on a on a global minimum tax, Assuming that 315 00:17:54,280 --> 00:17:56,919 Speaker 1: you can block a US tax rate of twenty percent, 316 00:17:57,280 --> 00:18:00,399 Speaker 1: makes fifteen sound pretty good, doesn't it. Well, already have 317 00:18:00,400 --> 00:18:02,679 Speaker 1: a global minimum tax here in the United States. It 318 00:18:02,800 --> 00:18:06,400 Speaker 1: is on paper ten percent, in real life thirteen uh 319 00:18:06,440 --> 00:18:10,960 Speaker 1: and so that has already made us competitive. So regardless 320 00:18:10,960 --> 00:18:13,919 Speaker 1: of what the global minimum taxes around that area, you 321 00:18:13,960 --> 00:18:17,280 Speaker 1: really haven't made much changes. What you should look for though, 322 00:18:17,560 --> 00:18:20,920 Speaker 1: in the international tax changes we're seeing from the Biden administration, 323 00:18:21,640 --> 00:18:25,200 Speaker 1: as I view them, in effect, they make it easier 324 00:18:25,240 --> 00:18:28,600 Speaker 1: for a foreign company and foreign workers to compete and 325 00:18:28,600 --> 00:18:32,919 Speaker 1: win than an American company and American workers. It reverses 326 00:18:33,240 --> 00:18:36,640 Speaker 1: the gains we made in competitiveness, jobs, and research under 327 00:18:36,680 --> 00:18:38,919 Speaker 1: the Tax Cuts and Jobs Act. And so when you 328 00:18:38,960 --> 00:18:42,239 Speaker 1: look at the bigger picture, I think you're driving not 329 00:18:42,320 --> 00:18:46,200 Speaker 1: just slower growth, but a giant sucking sound of jobs 330 00:18:46,280 --> 00:18:50,040 Speaker 1: investment out of the United States, and nobody should want that. 331 00:18:50,920 --> 00:18:52,800 Speaker 1: I haven't heard that line in a while. Congressman. I've 332 00:18:52,800 --> 00:18:55,040 Speaker 1: got to ask you about our OPEC meeting this underway 333 00:18:55,080 --> 00:18:57,879 Speaker 1: just while you're here. Oil supplies are tight. We know 334 00:18:58,000 --> 00:18:59,560 Speaker 1: that it looks like we're not going to get much 335 00:18:59,560 --> 00:19:01,240 Speaker 1: of a deal, or at least much of an increase 336 00:19:01,680 --> 00:19:03,800 Speaker 1: if there is one. The market is predicting a hundred 337 00:19:03,880 --> 00:19:06,119 Speaker 1: dollars of barrel. Do you think we're going there? And 338 00:19:06,160 --> 00:19:08,280 Speaker 1: if that's the case, is it time to unlock shale 339 00:19:08,320 --> 00:19:12,720 Speaker 1: in Texas? It is and it is um uh. Look 340 00:19:12,800 --> 00:19:16,000 Speaker 1: this this is no surprise. UH. The energy industry was 341 00:19:16,080 --> 00:19:19,200 Speaker 1: warning last year during all the COVID and then the 342 00:19:19,600 --> 00:19:22,679 Speaker 1: shutdowns and shut ins and lock ins, that this was 343 00:19:22,680 --> 00:19:24,760 Speaker 1: gonna happen, that we weren't going to be able to 344 00:19:24,800 --> 00:19:27,680 Speaker 1: ramp up fast enough to meet this global demand. It's 345 00:19:27,720 --> 00:19:30,880 Speaker 1: exactly what's happening right now. But the other thing that's 346 00:19:30,880 --> 00:19:34,840 Speaker 1: happened since obviously the President on the Keystone pipeline effort 347 00:19:35,200 --> 00:19:38,480 Speaker 1: now to UH to either policy or shut down oil 348 00:19:38,520 --> 00:19:42,440 Speaker 1: and gas leasing on federal lands. The eleven major tax 349 00:19:42,480 --> 00:19:49,240 Speaker 1: increases on American energy, We're getting less energy independent and unfortunately, 350 00:19:49,720 --> 00:19:54,080 Speaker 1: UH relying more on folks like Russia in their imports. 351 00:19:54,359 --> 00:19:56,680 Speaker 1: And so I just think we're heading the wrong direction 352 00:19:56,680 --> 00:19:59,960 Speaker 1: on energy and pricing is part of it. Congressman Kevin 353 00:20:00,040 --> 00:20:03,160 Speaker 1: Brady's ranking member ways and means, thanks for joining us 354 00:20:03,160 --> 00:20:06,600 Speaker 1: on Bloomberg and have a great Fourth of July. You too, Joe, 355 00:20:06,640 --> 00:20:14,520 Speaker 1: Thank you. I'm Joe Matthew. This is Bloomberg broadcasting live 356 00:20:14,640 --> 00:20:19,600 Speaker 1: from our nation's capital, Bloomberg to New York, Bloomberg eleven 357 00:20:19,680 --> 00:20:23,960 Speaker 1: Frio to San Francisco, Bloomberg nine sixty to the country. 358 00:20:24,119 --> 00:20:28,240 Speaker 1: Sirius XM Channel one and around the globe, the Bloomberg 359 00:20:28,280 --> 00:20:32,600 Speaker 1: Business app and Bloomberg Radio dot com. This is Bloomberg 360 00:20:32,760 --> 00:20:37,920 Speaker 1: Sound On with Joe Matthew. We're live in Washington, where 361 00:20:37,920 --> 00:20:41,200 Speaker 1: the city is preparing for a big holiday bash this weekend. 362 00:20:41,320 --> 00:20:45,280 Speaker 1: It is a very different feeling today though, in Surfside, Florida, 363 00:20:45,600 --> 00:20:49,679 Speaker 1: following the tragic building collapse and now the possibility of 364 00:20:49,720 --> 00:20:53,000 Speaker 1: a hurricane coming up. We'll talk about it with Congressman 365 00:20:53,040 --> 00:20:56,199 Speaker 1: Debbie Wasserman Schultz, who is there. The news from Florida 366 00:20:56,280 --> 00:20:59,880 Speaker 1: today has been tough. Twenty people are now confirmed dead, 367 00:21:00,160 --> 00:21:02,720 Speaker 1: and there are new concerns that search and rescue efforts 368 00:21:02,720 --> 00:21:06,080 Speaker 1: could be interrupted by an approaching storm. Joining us to 369 00:21:06,119 --> 00:21:09,680 Speaker 1: talk about it as Congresswoman Debbie Wasserman Schultz, Democrat from Florida, 370 00:21:09,880 --> 00:21:13,360 Speaker 1: who traveled with the President on his visit there yesterday 371 00:21:13,480 --> 00:21:16,879 Speaker 1: and is still in serve side. Welcome Congresswoman to Bloomberg Radio. 372 00:21:17,440 --> 00:21:20,040 Speaker 1: Thank you. I appreciate the opportunity to talk with you. 373 00:21:20,200 --> 00:21:23,520 Speaker 1: I know this has been another very difficult day for victims, 374 00:21:23,520 --> 00:21:26,679 Speaker 1: families and for the crews who are searching. And my 375 00:21:26,760 --> 00:21:29,280 Speaker 1: heart goes out to the firefighter whose daughter was found 376 00:21:29,320 --> 00:21:33,160 Speaker 1: today and their entire family. And I know that you're 377 00:21:33,200 --> 00:21:36,160 Speaker 1: now facing a potential storm this weekend. How would Hurricane 378 00:21:36,160 --> 00:21:41,879 Speaker 1: Elsa impact this whole operation? Well, I mean you're you're right, uh, 379 00:21:41,960 --> 00:21:45,119 Speaker 1: and so the loss of a child, UM, and this 380 00:21:45,359 --> 00:21:49,080 Speaker 1: is the third child that has been found since since 381 00:21:49,080 --> 00:21:54,119 Speaker 1: the building collapsed, UM is absolutely horrific. But you know 382 00:21:54,160 --> 00:21:57,879 Speaker 1: it goes without saying that. Every night since last Wednesday 383 00:21:58,280 --> 00:22:03,360 Speaker 1: has been immensely difficult for everyone, particularly impacted families. And 384 00:22:04,119 --> 00:22:06,679 Speaker 1: you know, there have been so many obstacles that have 385 00:22:06,760 --> 00:22:10,040 Speaker 1: been thrown in the path of these really heroic search 386 00:22:10,080 --> 00:22:15,800 Speaker 1: and rescue uh brothers and sisters on that pile. Um. 387 00:22:15,840 --> 00:22:19,280 Speaker 1: They've had fires, they've had torrential rain. Now we have 388 00:22:19,320 --> 00:22:23,040 Speaker 1: a hurricane potentially that is going to at least skim 389 00:22:23,280 --> 00:22:28,280 Speaker 1: South Florida, if not hit us. And so every time 390 00:22:28,320 --> 00:22:31,600 Speaker 1: they have to stop operations because they we can't jeopardize 391 00:22:31,640 --> 00:22:35,480 Speaker 1: their safety is you know, it's just another heartbreak for 392 00:22:35,520 --> 00:22:38,480 Speaker 1: these families because obviously time is of the essence. I 393 00:22:38,520 --> 00:22:41,640 Speaker 1: heard you speak earlier, Congresswoman about President Biden as as 394 00:22:41,720 --> 00:22:45,440 Speaker 1: consoler in chief. He said on his visit, several families 395 00:22:45,480 --> 00:22:49,280 Speaker 1: mentioned to him climate change that they were worried before 396 00:22:49,359 --> 00:22:54,520 Speaker 1: this tragedy about rising sea level, about flooding around these buildings. 397 00:22:54,560 --> 00:22:57,640 Speaker 1: How much of a factor is that in coastal Florida 398 00:22:57,880 --> 00:23:00,000 Speaker 1: And what measures do you think are needed to keep 399 00:23:00,119 --> 00:23:03,280 Speaker 1: this from getting worse. Well, we we don't know the 400 00:23:03,359 --> 00:23:06,600 Speaker 1: cause of this collapse, and that's why the National Institute 401 00:23:06,640 --> 00:23:09,320 Speaker 1: for Standards and Technology, a federal agency that is like 402 00:23:09,680 --> 00:23:15,119 Speaker 1: the National Transportation Safety Board for Construction Disasters UM, is 403 00:23:15,119 --> 00:23:21,320 Speaker 1: taking a full investigation to really examine factually how this happens. UM. 404 00:23:21,440 --> 00:23:24,480 Speaker 1: But we've known for a long time that we have, 405 00:23:25,080 --> 00:23:29,359 Speaker 1: you know, beach erosion, we have salt water intrusion here, 406 00:23:29,560 --> 00:23:33,600 Speaker 1: we have sea level rise, and that has very significant 407 00:23:33,640 --> 00:23:37,760 Speaker 1: impacts both on our weather patterns as well as as 408 00:23:37,880 --> 00:23:41,040 Speaker 1: as well as how we live our daily lives. And 409 00:23:41,080 --> 00:23:45,359 Speaker 1: so making sure that we invest in coastal resiliency is 410 00:23:45,400 --> 00:23:51,000 Speaker 1: important regardless of the cause of this, of the strategy understood, 411 00:23:51,000 --> 00:23:53,440 Speaker 1: and I want to be careful about drawing any any 412 00:23:53,520 --> 00:23:56,440 Speaker 1: lines between this and anything else that we don't know about. 413 00:23:56,480 --> 00:23:59,600 Speaker 1: But how about local building codes? Is that a local 414 00:23:59,640 --> 00:24:01,840 Speaker 1: matter or does the federal government and you as a 415 00:24:01,920 --> 00:24:04,960 Speaker 1: legislator play a role in that. Well, they're gonna be there. 416 00:24:04,960 --> 00:24:09,200 Speaker 1: There's certainly will be local and state investigations into how 417 00:24:09,640 --> 00:24:12,680 Speaker 1: this tragedy happened. And then you have the federal investigation 418 00:24:12,800 --> 00:24:16,000 Speaker 1: from MISSED, the agency I just talked about, and so 419 00:24:16,760 --> 00:24:19,840 Speaker 1: those those investigations will need to get to the bottom 420 00:24:19,840 --> 00:24:22,680 Speaker 1: of both how this happened, which is what MISS does, 421 00:24:22,960 --> 00:24:26,080 Speaker 1: and they don't find fault, they look for facts. And 422 00:24:26,119 --> 00:24:28,320 Speaker 1: then you know, we're also going to have to see, 423 00:24:28,400 --> 00:24:33,520 Speaker 1: you know, where where the cascading responsibility was that is 424 00:24:33,560 --> 00:24:37,199 Speaker 1: likely the cause likely to In my I have a 425 00:24:37,240 --> 00:24:40,600 Speaker 1: sense that it's likely not one particular thing, but a 426 00:24:40,600 --> 00:24:44,600 Speaker 1: an accumulation of causes. And then you get down to 427 00:24:44,680 --> 00:24:49,840 Speaker 1: the hard work of legislating changing local ordinances, state law, 428 00:24:50,320 --> 00:24:53,520 Speaker 1: and federal law, which is what MISS is. The MISS 429 00:24:53,520 --> 00:24:57,240 Speaker 1: examination will do, will help us determine um Ultimately, I 430 00:24:57,240 --> 00:25:00,160 Speaker 1: do expect that we will have to make change as 431 00:25:00,200 --> 00:25:03,800 Speaker 1: to how buildings are constructed constructed and also how they 432 00:25:03,800 --> 00:25:08,480 Speaker 1: are inspected and the requirements for refurbishment. Um that that 433 00:25:08,480 --> 00:25:11,040 Speaker 1: we just have to make sure this is an unprecedented tragedy, 434 00:25:11,400 --> 00:25:14,239 Speaker 1: one that doesn't have comparison. I have no one in 435 00:25:14,320 --> 00:25:16,960 Speaker 1: my in Congress to to to go and talk to 436 00:25:17,080 --> 00:25:19,720 Speaker 1: see how they might have handled, you know, the disaster 437 00:25:19,800 --> 00:25:22,000 Speaker 1: and their district, because this has never happened, and so 438 00:25:22,160 --> 00:25:25,840 Speaker 1: making sure that we deal with an unprecedented tragedy and 439 00:25:25,840 --> 00:25:28,560 Speaker 1: and look carefully at at whether or not this could 440 00:25:28,560 --> 00:25:31,160 Speaker 1: happen anywhere else in the country, particularly along our coastline, 441 00:25:31,160 --> 00:25:33,800 Speaker 1: which is dotted with condominium buildings just like this one 442 00:25:34,280 --> 00:25:36,000 Speaker 1: is going to be critical to make sure this is 443 00:25:36,040 --> 00:25:38,480 Speaker 1: this is the only instance in which just ever happens 444 00:25:38,520 --> 00:25:42,200 Speaker 1: in the United States. Congresswoman, I was struck watching President 445 00:25:42,240 --> 00:25:45,760 Speaker 1: Biden on that same visit, sit side by side with 446 00:25:45,880 --> 00:25:50,520 Speaker 1: Governor de Santis, their spouses in the room, speaking collaboratively 447 00:25:50,760 --> 00:25:53,560 Speaker 1: about what's going on here, and I just I wonder 448 00:25:53,720 --> 00:25:55,480 Speaker 1: if there's a lesson to be learned there or if 449 00:25:55,480 --> 00:25:59,960 Speaker 1: you two were encouraged by watching partisanship be be dropped 450 00:26:00,119 --> 00:26:04,120 Speaker 1: in this moment so federal government, in state government, and 451 00:26:04,119 --> 00:26:07,680 Speaker 1: and two different parties could work together on this. There's 452 00:26:07,680 --> 00:26:09,760 Speaker 1: no question I was. I was part of that meeting, 453 00:26:09,920 --> 00:26:14,240 Speaker 1: and like from day one well, when I flew down 454 00:26:14,359 --> 00:26:19,040 Speaker 1: after hearing about the tragedy and locked arms with my 455 00:26:19,160 --> 00:26:22,399 Speaker 1: colleagues across the aisle at the local state and and 456 00:26:22,680 --> 00:26:26,520 Speaker 1: national level. From my perspective, we've all been saying very 457 00:26:26,600 --> 00:26:29,359 Speaker 1: clearly and out loud, even though we don't agree on 458 00:26:29,480 --> 00:26:32,920 Speaker 1: much of anything else across party lines, that we are 459 00:26:32,960 --> 00:26:36,879 Speaker 1: taking a whole of government seamless approach to responding to 460 00:26:36,920 --> 00:26:40,240 Speaker 1: this crisis, and that we are going to solely focused 461 00:26:40,280 --> 00:26:45,080 Speaker 1: on one the search and rescue to the the families, 462 00:26:45,280 --> 00:26:48,720 Speaker 1: both the survivor families as well as those who have 463 00:26:49,600 --> 00:26:52,119 Speaker 1: family members lost in the building, and then you know, 464 00:26:52,200 --> 00:26:54,800 Speaker 1: getting to the bottom of how this, how this had happened. 465 00:26:55,080 --> 00:26:57,480 Speaker 1: And so it was hardening to to be in the room. 466 00:26:57,840 --> 00:26:59,359 Speaker 1: You know, I had a chance to fly down on 467 00:26:59,440 --> 00:27:01,720 Speaker 1: Air Force one with the President and talk to him 468 00:27:01,760 --> 00:27:05,800 Speaker 1: about exactly how well we were working together when you know, 469 00:27:06,119 --> 00:27:08,640 Speaker 1: in the midst of so much toxicity. It is really 470 00:27:08,680 --> 00:27:11,360 Speaker 1: wonderful that we've been able to put that partisanship aside 471 00:27:11,600 --> 00:27:13,800 Speaker 1: and focus on taking care of the people that elected 472 00:27:13,840 --> 00:27:16,240 Speaker 1: us to represent them. Yeah. Well, we prefer to talk 473 00:27:16,320 --> 00:27:19,080 Speaker 1: about policy over politics on this program, and it's worth 474 00:27:19,119 --> 00:27:23,320 Speaker 1: noting when moments like that happen. Congresswoman Debbie Wasserman Schultz, 475 00:27:23,359 --> 00:27:25,639 Speaker 1: thank you very much for taking time out of the day. 476 00:27:25,840 --> 00:27:28,600 Speaker 1: You're in our thoughts on this holiday weekend along with 477 00:27:28,640 --> 00:27:31,040 Speaker 1: all of the families who are at the scene. There 478 00:27:30,880 --> 00:27:33,520 Speaker 1: are my best to everyone in your community. Thank you 479 00:27:33,600 --> 00:27:35,480 Speaker 1: so much, and I would ask that you stick with 480 00:27:35,600 --> 00:27:37,560 Speaker 1: us because we're going to need to make sure, because 481 00:27:37,560 --> 00:27:40,920 Speaker 1: this is such a unique tragedy, that we keep a 482 00:27:40,960 --> 00:27:42,600 Speaker 1: spotlight on this so that we can make sure it 483 00:27:42,600 --> 00:27:46,040 Speaker 1: never happens again. We will be here. Congresswoman, thank you again, 484 00:27:46,800 --> 00:27:49,600 Speaker 1: thank you, thank you for spending some time with us 485 00:27:49,800 --> 00:27:54,000 Speaker 1: on Bloomberg Sound On. I'm Joe Matthew in Washington, and 486 00:27:54,040 --> 00:27:58,040 Speaker 1: we will keep tabs on the whole situation in Florida, 487 00:27:58,280 --> 00:28:01,479 Speaker 1: as it's the right thing to do with America preparing 488 00:28:01,480 --> 00:28:04,840 Speaker 1: to celebrate the holiday coming up this weekend. Coming up, 489 00:28:04,880 --> 00:28:06,879 Speaker 1: we're gonna put all this together, talk about everything that 490 00:28:06,920 --> 00:28:08,600 Speaker 1: we have heard over this hour. This has been a 491 00:28:08,600 --> 00:28:12,840 Speaker 1: heck of an hour with Bloomberg Politics contributors Genie she 492 00:28:12,960 --> 00:28:15,400 Speaker 1: and Zano and Rick Davis will be here as well. 493 00:28:16,000 --> 00:28:19,120 Speaker 1: Going back to that job's report this morning, we'll hear 494 00:28:19,160 --> 00:28:23,040 Speaker 1: them react to what we heard from Secretary Walsh and 495 00:28:23,160 --> 00:28:27,280 Speaker 1: Congressman Brady as well Congresswoman Wasserman Chalton. Look ahead to 496 00:28:27,320 --> 00:28:30,040 Speaker 1: what we have in store next week in the world 497 00:28:30,040 --> 00:28:32,600 Speaker 1: of politics. Getting pretty quiet around here in Washington. It 498 00:28:32,680 --> 00:28:36,119 Speaker 1: might just be me and Brick by the time we're done. Wait, 499 00:28:36,119 --> 00:28:39,800 Speaker 1: Brick's gone to stay here. I'm Joe Matthew. This is Bloomberg. 500 00:28:41,920 --> 00:28:53,800 Speaker 1: H This is Bloomberg Son No with Joe Matthew on 501 00:28:53,960 --> 00:28:58,200 Speaker 1: Bloomberg Radio. Now you made it to Friday. Thanks for 502 00:28:58,360 --> 00:29:01,080 Speaker 1: joining us here at the end of the week, as 503 00:29:01,080 --> 00:29:04,080 Speaker 1: we hear from Charlie Pellett on the markets and look 504 00:29:04,120 --> 00:29:07,200 Speaker 1: ahead to the fourth of July. Big news today, as 505 00:29:07,240 --> 00:29:09,840 Speaker 1: we've been talking about here on Bloomberg Sound on when 506 00:29:09,840 --> 00:29:12,520 Speaker 1: it comes to jobs, better than expected reading for the 507 00:29:12,600 --> 00:29:16,560 Speaker 1: month of June we talked about earlier with Labor Secretary Walsh, 508 00:29:16,680 --> 00:29:19,840 Speaker 1: a little bit after that, reaction from Congressman Kevin Brady 509 00:29:19,880 --> 00:29:22,120 Speaker 1: to get the Republican take on things, and of course 510 00:29:22,120 --> 00:29:25,640 Speaker 1: the ranking member of Ways and means disappointed in the 511 00:29:25,760 --> 00:29:28,440 Speaker 1: rate of growth. And we're joined right now by Bloomberg 512 00:29:28,440 --> 00:29:32,000 Speaker 1: Politics contributors Genie she and Zano and Rick Davis for 513 00:29:32,120 --> 00:29:34,640 Speaker 1: insights on everything that we've heard. Great to have both 514 00:29:34,680 --> 00:29:37,120 Speaker 1: of you back with us today. Of course, Rick, I'd 515 00:29:37,160 --> 00:29:39,280 Speaker 1: like to hear from you first as a Republican having 516 00:29:39,680 --> 00:29:43,440 Speaker 1: listened to both the Administration on jobs then from the 517 00:29:43,520 --> 00:29:47,560 Speaker 1: Congressman on Jobs, the Congressman from Texas. This was a 518 00:29:47,600 --> 00:29:50,640 Speaker 1: better than expected number, eight hundred and fifty thousand, but 519 00:29:50,760 --> 00:29:54,080 Speaker 1: we're still falling short of the projected rate of growth. 520 00:29:54,520 --> 00:29:56,600 Speaker 1: Are you taking this as good news? Are you worried 521 00:29:56,640 --> 00:29:59,440 Speaker 1: about the direction of this job market? You know, I 522 00:29:59,440 --> 00:30:02,080 Speaker 1: think it's a cautionary tale. I think the job market 523 00:30:02,160 --> 00:30:05,480 Speaker 1: is very perplexing right now. I mean that the Labor 524 00:30:05,520 --> 00:30:08,840 Speaker 1: Secretary and Congressman Brady we're kind of at odds over 525 00:30:08,960 --> 00:30:11,960 Speaker 1: like what impact the unemployment benefits are having with the 526 00:30:12,040 --> 00:30:13,880 Speaker 1: job market. And so let's just take that out of 527 00:30:13,880 --> 00:30:17,640 Speaker 1: the equation. Because I would actually challenge uh Congressman Brady 528 00:30:17,640 --> 00:30:19,520 Speaker 1: to come back on the show at the end of 529 00:30:20,000 --> 00:30:23,120 Speaker 1: July and see whether or not these Republican states that 530 00:30:23,200 --> 00:30:27,200 Speaker 1: didn't add the unemployment benefit actually did better on their 531 00:30:27,280 --> 00:30:30,240 Speaker 1: job numbers than the states that did, because I mean, 532 00:30:30,360 --> 00:30:32,480 Speaker 1: it's it's a bit of a canard that job market 533 00:30:32,640 --> 00:30:36,280 Speaker 1: is changing. There's no question that there's all kinds of 534 00:30:36,320 --> 00:30:38,800 Speaker 1: different things going on. I mean, while we're celebrating this 535 00:30:38,920 --> 00:30:41,880 Speaker 1: number and it's it's a good number, Joe Biden was 536 00:30:42,160 --> 00:30:45,400 Speaker 1: looking for a good number that he could promote his 537 00:30:46,040 --> 00:30:48,600 Speaker 1: UH infrastructure, playing around, and he got one. But at 538 00:30:48,640 --> 00:30:53,000 Speaker 1: the same time, actually people who applied for unemployment went up, 539 00:30:53,200 --> 00:30:56,120 Speaker 1: and these were people who voluntarily left their jobs. So 540 00:30:56,200 --> 00:30:58,880 Speaker 1: what is going on in the job market today, Well, 541 00:30:58,880 --> 00:31:01,400 Speaker 1: there's a lot of questions to answer their genie, and 542 00:31:01,400 --> 00:31:03,680 Speaker 1: it's one of these cases where a higher unemployment rate 543 00:31:03,760 --> 00:31:06,440 Speaker 1: was actually considered good news because, you know, as as 544 00:31:06,560 --> 00:31:09,920 Speaker 1: Rick is indicating, it suggests more people have gotten off 545 00:31:10,000 --> 00:31:13,000 Speaker 1: the couch, have left their house and started looking actively 546 00:31:13,040 --> 00:31:15,200 Speaker 1: for work. It does, which is a good sign. And 547 00:31:15,240 --> 00:31:16,720 Speaker 1: I have to say, I'm glad to be talking to 548 00:31:16,720 --> 00:31:19,880 Speaker 1: the last two men standing in Washington, d C. While 549 00:31:19,960 --> 00:31:22,640 Speaker 1: everybody else is off for the weekend. I'm kidding, of course, 550 00:31:23,000 --> 00:31:25,920 Speaker 1: Um No, you know, I think you know, I thought 551 00:31:25,920 --> 00:31:28,720 Speaker 1: you're Both of those conversations were so interesting, as you 552 00:31:28,760 --> 00:31:32,040 Speaker 1: and rickar just talked about the juxtaposition, and I think Republicans, 553 00:31:32,080 --> 00:31:35,080 Speaker 1: particularly those on Ways and Means, who released this this 554 00:31:35,240 --> 00:31:39,280 Speaker 1: news released before the report came out yesterday, saying, you know, 555 00:31:39,360 --> 00:31:42,280 Speaker 1: for President Joe Biden, the June report is make or 556 00:31:42,320 --> 00:31:45,120 Speaker 1: break because he did and he arguably had to do 557 00:31:45,240 --> 00:31:48,400 Speaker 1: underwhelming jobs reports, and yet when this report came out, 558 00:31:48,440 --> 00:31:50,360 Speaker 1: they had a bit of eggs on their face because 559 00:31:50,640 --> 00:31:54,200 Speaker 1: of course the news was seen as a relatively good sign. 560 00:31:54,560 --> 00:31:58,200 Speaker 1: You know, a year out of the pandemic, it is, 561 00:31:58,320 --> 00:32:00,560 Speaker 1: you know, a lot more stable, and I think a 562 00:32:00,600 --> 00:32:02,600 Speaker 1: lot of people would have thought it would have been, 563 00:32:02,640 --> 00:32:05,280 Speaker 1: and so the President was able to take a little 564 00:32:05,320 --> 00:32:08,600 Speaker 1: bit of a mild victory lap there. But I agree 565 00:32:08,600 --> 00:32:10,600 Speaker 1: with what Rick is saying. There's a lot of questions 566 00:32:10,640 --> 00:32:13,040 Speaker 1: to be asked and answered on this point. This is 567 00:32:13,080 --> 00:32:15,840 Speaker 1: part of the the job's reports are something, Rick, because 568 00:32:16,480 --> 00:32:18,560 Speaker 1: there really is something in it for everyone kind of 569 00:32:18,560 --> 00:32:21,440 Speaker 1: no matter how obviously you can have extremely bad or 570 00:32:21,640 --> 00:32:24,479 Speaker 1: or very very good reports, but something like this, you 571 00:32:24,520 --> 00:32:27,320 Speaker 1: can find a way to complain about it. You can 572 00:32:27,320 --> 00:32:30,080 Speaker 1: find something to celebrate. That's there's just so many numbers 573 00:32:30,080 --> 00:32:33,800 Speaker 1: and so many different angles. You remember advising Senator John 574 00:32:33,880 --> 00:32:38,280 Speaker 1: McCain and I'm sure other Republican lawmakers would say, Okay, look, 575 00:32:38,360 --> 00:32:41,000 Speaker 1: let's find the where's the where's the friction in this thing? 576 00:32:41,040 --> 00:32:42,920 Speaker 1: I know the headline number is good, but there's is 577 00:32:42,920 --> 00:32:46,520 Speaker 1: there not always something to complain about? And I'm asking 578 00:32:46,520 --> 00:32:48,320 Speaker 1: you that as we try to cut through the talking 579 00:32:48,360 --> 00:32:53,840 Speaker 1: points here. Yeah, so often elected officials want to uh 580 00:32:54,000 --> 00:32:57,200 Speaker 1: try to put the best light on on a daylight today, right, 581 00:32:57,280 --> 00:33:00,080 Speaker 1: and that nobody wants to run down the economy. I 582 00:33:00,120 --> 00:33:03,640 Speaker 1: think universally both parties actually want to declare victory that 583 00:33:03,680 --> 00:33:08,520 Speaker 1: we've come out of uh the COVID crisis and and 584 00:33:08,600 --> 00:33:10,960 Speaker 1: that we're moving the country forward. There's no question the 585 00:33:11,080 --> 00:33:15,760 Speaker 1: economic numbers overall support that. But I would say this 586 00:33:15,920 --> 00:33:20,720 Speaker 1: is a uh an indicator of a larger battle looming. Uh. 587 00:33:20,760 --> 00:33:24,960 Speaker 1: You pivoted very quickly with Congressman Brady and today's discussion 588 00:33:25,040 --> 00:33:28,400 Speaker 1: into taxes because the reality is, regardless of what happens 589 00:33:28,400 --> 00:33:31,680 Speaker 1: with the jobs numbers, we have a big fight coming 590 00:33:31,760 --> 00:33:35,880 Speaker 1: up on taxes and what is going to be uh 591 00:33:35,960 --> 00:33:39,280 Speaker 1: something that the Biden administration can pass. And there are 592 00:33:39,320 --> 00:33:41,479 Speaker 1: a lot of Democrats who are nervous about this debate 593 00:33:41,560 --> 00:33:44,160 Speaker 1: going into a big mid mid mid term election in 594 00:33:44,880 --> 00:33:48,240 Speaker 1: two and I think that's so so everybody's sort of 595 00:33:48,280 --> 00:33:52,240 Speaker 1: positioning from the jobs debate to have either leverage or 596 00:33:52,320 --> 00:33:55,800 Speaker 1: lose leverage with a big tax debate that's coming. And 597 00:33:55,880 --> 00:33:59,960 Speaker 1: then you've got infrastructure here that will create jobs. According 598 00:34:00,720 --> 00:34:03,760 Speaker 1: to the President He talked about this, the building charging stations, 599 00:34:03,800 --> 00:34:08,040 Speaker 1: genie of course, repairing roads, bridges and tunnels. But how 600 00:34:08,040 --> 00:34:11,160 Speaker 1: do you fill those jobs if workers aren't showing up? Well, 601 00:34:11,200 --> 00:34:13,480 Speaker 1: that's the that's the question, right, And I think one 602 00:34:13,480 --> 00:34:16,040 Speaker 1: of the things I've heard as as we've listened to 603 00:34:16,239 --> 00:34:20,560 Speaker 1: Secretary Walsh today, I've been interviewed a few times on Bloomberg. 604 00:34:20,800 --> 00:34:23,200 Speaker 1: He has made the case that, at least in my mind, 605 00:34:23,360 --> 00:34:26,359 Speaker 1: that the jobs numbers we get this fall are going 606 00:34:26,400 --> 00:34:29,200 Speaker 1: to be a real indicator. He keeps pointing to those 607 00:34:29,200 --> 00:34:34,000 Speaker 1: September October numbers and what happens once for instance, schools 608 00:34:34,000 --> 00:34:36,960 Speaker 1: are back at one percent hopefully and open, and what 609 00:34:37,080 --> 00:34:40,239 Speaker 1: happens to the labor force there? Of course, Also, that's 610 00:34:40,280 --> 00:34:43,360 Speaker 1: the same time when we're gonna see this three plus relief. 611 00:34:43,800 --> 00:34:47,200 Speaker 1: Uh these these uh, these relief is going to end 612 00:34:47,200 --> 00:34:50,120 Speaker 1: in most places, and so they are betting a lot 613 00:34:50,160 --> 00:34:52,680 Speaker 1: in my mind on what happens in September and October. 614 00:34:52,800 --> 00:34:55,799 Speaker 1: The same time we're likely to see these votes on 615 00:34:55,840 --> 00:34:58,560 Speaker 1: these big infrastructure bills, and a lot of questions are 616 00:34:58,600 --> 00:35:00,640 Speaker 1: going to have to be answered at that point. President 617 00:35:00,640 --> 00:35:02,480 Speaker 1: Biden was asked about a couple of other things in 618 00:35:02,520 --> 00:35:05,080 Speaker 1: this news conference. Afghanistan was one of them to draw down, 619 00:35:05,080 --> 00:35:06,680 Speaker 1: and he didn't want to go too far into that 620 00:35:06,719 --> 00:35:09,120 Speaker 1: so that he'd have more to discuss next week. But 621 00:35:09,160 --> 00:35:11,600 Speaker 1: then COVID came up in the fourth of July. We 622 00:35:11,640 --> 00:35:13,200 Speaker 1: got to this a little bit earlier in the week. 623 00:35:14,120 --> 00:35:15,879 Speaker 1: You know, you think back to where we've been here. 624 00:35:15,920 --> 00:35:19,000 Speaker 1: You think about the Trump administration's attempts to say, you 625 00:35:19,040 --> 00:35:21,640 Speaker 1: know what, we beat it, We're good, let's get everybody together. 626 00:35:21,680 --> 00:35:23,879 Speaker 1: I think it was Easter at that point. Well, here 627 00:35:23,920 --> 00:35:26,839 Speaker 1: we are on the fourth of July, a year later, 628 00:35:26,920 --> 00:35:28,960 Speaker 1: and they're going to be a bunch of families, military 629 00:35:29,000 --> 00:35:31,080 Speaker 1: families on the south lawn of the White House. They're 630 00:35:31,080 --> 00:35:33,080 Speaker 1: going to be people on the mall. They're gonna be 631 00:35:33,320 --> 00:35:37,920 Speaker 1: people in backyards and town centers all over the country. 632 00:35:38,360 --> 00:35:41,560 Speaker 1: And the question was for the president, are you worried 633 00:35:42,360 --> 00:35:45,719 Speaker 1: you could be starting another super spreader. I am concerned 634 00:35:46,640 --> 00:35:52,680 Speaker 1: that people who have not gotten vaccinated have the capacity 635 00:35:52,880 --> 00:35:58,120 Speaker 1: two catch the variant and spread the variant to other 636 00:35:58,200 --> 00:36:01,720 Speaker 1: people who have not been vaccinated. I am not concerned 637 00:36:01,760 --> 00:36:04,280 Speaker 1: there's going to be a major outbreak, in other words, 638 00:36:04,320 --> 00:36:09,080 Speaker 1: that we're gonna have another epidemic nationwide. But I'm concerned 639 00:36:09,719 --> 00:36:12,680 Speaker 1: lies will be lost, lives will be lost. Rick Davis, 640 00:36:13,440 --> 00:36:15,640 Speaker 1: is there a political liability here? What kind of risk 641 00:36:15,680 --> 00:36:18,400 Speaker 1: is the president facing by encouraging everyone to get together 642 00:36:18,440 --> 00:36:22,400 Speaker 1: and barbecue and have fought dogs this weekend? Yeah, I 643 00:36:22,600 --> 00:36:25,359 Speaker 1: was was worried about, like losing a finger from a firecracker. 644 00:36:25,840 --> 00:36:28,759 Speaker 1: Lives will be lost if I go to a barbecue. 645 00:36:28,840 --> 00:36:32,759 Speaker 1: I don't think that's what I mean. I think that 646 00:36:32,880 --> 00:36:37,200 Speaker 1: I think that he has to remain vigilant on the 647 00:36:37,239 --> 00:36:40,399 Speaker 1: COVID front. Uh, there's no question that they we've made 648 00:36:40,600 --> 00:36:42,799 Speaker 1: enormous progress. I'm so proud of our country and the 649 00:36:42,800 --> 00:36:47,520 Speaker 1: progress we've made in now leading the world in vaccines. 650 00:36:47,560 --> 00:36:51,279 Speaker 1: But there are places many states where the vaccine rate 651 00:36:51,360 --> 00:36:54,319 Speaker 1: is significantly blow it and and and and there are 652 00:36:54,400 --> 00:36:58,400 Speaker 1: warnings from every public health official. I've heard that the 653 00:36:58,480 --> 00:37:03,560 Speaker 1: virus is, like the delta variant, have enormous potential to 654 00:37:03,640 --> 00:37:08,719 Speaker 1: disrupt the progress we've made. So vigilance is okay. I 655 00:37:08,760 --> 00:37:11,920 Speaker 1: don't want to hopefully get to draconian about it, but 656 00:37:12,560 --> 00:37:16,560 Speaker 1: um my my view is he should actually continue to 657 00:37:17,160 --> 00:37:19,440 Speaker 1: stress this because it's the only thing that can reverse 658 00:37:19,480 --> 00:37:22,160 Speaker 1: the progress. The country is making Genie is Rick correct 659 00:37:22,200 --> 00:37:25,440 Speaker 1: on that. I do. I think, you know, very difficult 660 00:37:25,480 --> 00:37:28,560 Speaker 1: for the administration. Once you encourage people to get vaccinations. 661 00:37:28,560 --> 00:37:30,800 Speaker 1: They've done that very well. Maybe not quite the seventy 662 00:37:31,200 --> 00:37:34,040 Speaker 1: they wanted by fourth of July, but they've done very 663 00:37:34,080 --> 00:37:36,480 Speaker 1: well on that. You can't then ask them not to 664 00:37:36,560 --> 00:37:39,920 Speaker 1: celebrate with their families and friends. So you've got to 665 00:37:40,000 --> 00:37:43,320 Speaker 1: be talking about and mindful of vigilance at all times 666 00:37:43,560 --> 00:37:46,640 Speaker 1: and keep pushing people to have vaccinations. And if I 667 00:37:46,680 --> 00:37:49,000 Speaker 1: could just say, I was a little surprised at at 668 00:37:49,120 --> 00:37:51,760 Speaker 1: at the press conference the president's reaction to the questions 669 00:37:51,800 --> 00:37:54,439 Speaker 1: about Afghanistan, the fact that he doesn't want to talk 670 00:37:54,440 --> 00:37:57,280 Speaker 1: about it today. The United States pulled out of Background 671 00:37:57,280 --> 00:38:00,000 Speaker 1: Air Force Base, Reuter's reports, part of the World Trade 672 00:38:00,080 --> 00:38:03,560 Speaker 1: Center is still buried there, and there are people there 673 00:38:03,600 --> 00:38:06,680 Speaker 1: who are vulnerable. Still, the President is going to have 674 00:38:06,800 --> 00:38:09,919 Speaker 1: to answer for what happens there as we pull out. 675 00:38:10,239 --> 00:38:12,200 Speaker 1: And I was a little bit surprised that he just 676 00:38:12,200 --> 00:38:14,400 Speaker 1: said he wasn't going to talk about that today. He 677 00:38:14,440 --> 00:38:16,800 Speaker 1: wanted to talk about good news. Yeah. Well, and it 678 00:38:16,880 --> 00:38:18,880 Speaker 1: came up with the press briefing after he did actually 679 00:38:18,880 --> 00:38:23,560 Speaker 1: answer several questions about Afghanistan before cutting things off, if 680 00:38:23,560 --> 00:38:26,440 Speaker 1: you will, in changing the subject, what would Rick Davis? 681 00:38:26,440 --> 00:38:29,200 Speaker 1: What would John McCain say about that on this weekend? 682 00:38:29,840 --> 00:38:34,279 Speaker 1: He would he would be apoplectic. Uh. He actually made 683 00:38:34,280 --> 00:38:36,799 Speaker 1: a big deal about the fact that Afghanistan maybe one 684 00:38:36,800 --> 00:38:41,000 Speaker 1: of those examples where a permanent UH stationing of troops 685 00:38:41,480 --> 00:38:44,160 Speaker 1: UH in the country UH in a in a defensive 686 00:38:44,160 --> 00:38:48,239 Speaker 1: posture would add to the stability of that country. And 687 00:38:48,320 --> 00:38:51,799 Speaker 1: so he would very much oppose a troop withdraw as 688 00:38:51,840 --> 00:38:55,120 Speaker 1: he did when he was alive. I would say, it 689 00:38:55,239 --> 00:38:59,600 Speaker 1: is not Independence Day weekend in Cabal. Uh. They are 690 00:38:59,640 --> 00:39:02,319 Speaker 1: going to go through a very wrenching process and we 691 00:39:02,400 --> 00:39:05,400 Speaker 1: have not equipped them with the ability to do it 692 00:39:05,440 --> 00:39:08,680 Speaker 1: in a in a democratic fashion. Yeah, they very clearly 693 00:39:08,719 --> 00:39:12,520 Speaker 1: have some things to worry about. Their Bloomberg Politics contributors 694 00:39:12,600 --> 00:39:15,640 Speaker 1: Jeanie she and Zano and Rick Davis always delighted to 695 00:39:15,680 --> 00:39:17,200 Speaker 1: spend time with you. I hope you both have a 696 00:39:17,200 --> 00:39:20,120 Speaker 1: wonderful Fourth of July weekend. I hope it's a long 697 00:39:20,160 --> 00:39:22,480 Speaker 1: weekend for both of you, or that we're going to 698 00:39:22,520 --> 00:39:25,719 Speaker 1: pull you into the broadcast on Monday. Thanks for a 699 00:39:25,760 --> 00:39:28,279 Speaker 1: great week and spending some time with us here on 700 00:39:28,320 --> 00:39:33,640 Speaker 1: Bloomberg Radio. I'm Joe Matthew in Washington, wishing you a 701 00:39:33,800 --> 00:39:36,720 Speaker 1: happy Fourth of July. We'll meet you back here Monday. 702 00:39:37,880 --> 00:39:39,719 Speaker 1: I'm Joe Matthew, and this is Bloomberg