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Speaker 1: Live from our nation's capital. This is Bloomberg Sound On.

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Speaker 1: When you have such a slim majority, it means that

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Speaker 1: there's going to be compromises. One way to draw more

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Speaker 1: people into the workforce and to draw them in productively

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Speaker 1: to pay them a higher way. Schloomberg Sound On, Politics,

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Speaker 1: Policy and Perspective from DC's top name. Inflation is running

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Speaker 1: much higher than the Fed projected, and there is a

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Speaker 1: monitoring system that many big corporations are really contemplating is

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Speaker 1: to sort of how do we keep the employees that

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Speaker 1: are inside healthy. Schloomberg Sound On with Joe Matthew on

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Speaker 1: Bloomberg Radio. And we enter a new week with no

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Speaker 1: deal yet on infrastructure, even after a working weekend and

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Speaker 1: the threat of a missed August recess, we keep hearing

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Speaker 1: their close even though an overture from the Democrats failed

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Speaker 1: last night. We will have the latest for you this

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Speaker 1: hour as we take through the sticking points with Congressman

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Speaker 1: John Caraman, Democrat from California, who serves on the House

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Speaker 1: Transportation and Infrastructure Committee spent years working on water issues.

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Speaker 1: Will also ask him about the impact of the wildfires

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Speaker 1: in northern California on agriculture and Business. We'll talk as

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Speaker 1: well with Bloomberg Politics contributors Genie she and Zo and

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Speaker 1: Rick Davis. Thank you for being with us today on

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Speaker 1: Bloomberg sound On. We keep hearing they're close to a deal.

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Speaker 1: Infrastructure not according to negotiators themselves, as the sticking points

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Speaker 1: remain largely unchanged from Friday, funding for transit, water resources

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Speaker 1: among them. But we still do not have a funding

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Speaker 1: plan to improve highways. To be clear, White House Press

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Speaker 1: Secretary Jensaki today in the reefing, we always know that

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Speaker 1: there are is some wrangling at the end of a process.

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Speaker 1: Um I would say tell you also that White House

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Speaker 1: staff and negotiators work through the weekend, as I think

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Speaker 1: many of you know, the President work the phones all

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Speaker 1: weekend and is continuing to were encouraged as we reach

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Speaker 1: the final issues that needs to be worked out and

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Speaker 1: are confident about out the path forward and the process

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Speaker 1: itself remains an issue. You heard Republican Congressman Kevin Brady

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Speaker 1: say on this program Friday that GOP members in the

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Speaker 1: House will not vote for a bill that either hikes

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Speaker 1: taxes or is tied to the Democrats Reconciliation bill, which

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Speaker 1: Senator Rob Portman who's corpse leading negotiations for his party,

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Speaker 1: did not sound terribly worried about when he was asked

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Speaker 1: on ABC this week. I was very glad to see

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Speaker 1: the President clarify his remarks because it was inconsistent with

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Speaker 1: everything that we had been told all along the way.

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Speaker 1: We were all blindsided by the comments the previous day,

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Speaker 1: which were that somehow these two bills were connected. I'm

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Speaker 1: glad they've now been de linked, and it's very clear

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Speaker 1: that we can move forward with a bipartisan bill that's

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Speaker 1: broadly popular, not just among members of Congress but the

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Speaker 1: American people, even as Speaker and Nascy Pelosi stands by

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Speaker 1: plans to wait for both to emerge from the Senate

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Speaker 1: before acting in the House. We can't tell you breaking

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Speaker 1: just a short time ago, Senator John Tester, Democrat from Montana,

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Speaker 1: one of the negotiators, as a deal will not be

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Speaker 1: announced tomorrow, So we're already on a Wednesday, and for

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Speaker 1: latest now we're joined by Bloomberg Government's Jack Fitzpatrick's been

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Speaker 1: following every turn here. Welcome back, Jack, Or things slowing

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Speaker 1: down or are we on the verge of a new

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Speaker 1: deal being announced the middle of this week? Well, things

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Speaker 1: have slown down, slowed down, But you know, I think

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Speaker 1: this goes to show how herkey jerky and back and

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Speaker 1: forth things can go. Almost immediately after Senator Tester uh

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Speaker 1: said to some reporters, it's probably not going to happen tomorrow,

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Speaker 1: he said, you know what, I'm actually pretty bullish it

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Speaker 1: potentially could happen tomorrow. So we we've got a real

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Speaker 1: back and forth going. It's difficult to guess exactly when

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Speaker 1: they could absolutely wrap this up, but as you mentioned earlier,

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Speaker 1: there are only so many issues, and it's things they've

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Speaker 1: been talking about. I think there's some frustration on the

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Speaker 1: Republican side that they felt the White House, when they

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Speaker 1: sent this latest offer, seemed to sort of relitigate things

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Speaker 1: that they thought were closed issues. But I haven't heard

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Speaker 1: of anything that's a real major sticking point. It's the

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Speaker 1: divide between highway and transit, some water pipes issues, some

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Speaker 1: things about determining the prevailing wages for contractors, but there's

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Speaker 1: no huge blow up on anything in particular, so there's

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Speaker 1: still close. I think why the so called global offer

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Speaker 1: from the White House last night just to say that

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Speaker 1: we did what we could well, I mean, at some

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Speaker 1: point you have to have a global offer and say, okay,

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Speaker 1: here's the absolute final version. The question is how much

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Speaker 1: does that come from Senate Democrats, how much does the

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Speaker 1: White House involve itself? And if there is some frustration,

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Speaker 1: if there was a step taken backwards. It seems there

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Speaker 1: was a little frustration maybe with the White House becoming

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Speaker 1: more involved. It's it's a little difficult to tell, but

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Speaker 1: you know, mostly this has been a back and forth

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Speaker 1: between senators with some involvement from the White House. Nothing

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Speaker 1: really came out of left field. But eventually, yeah, they're

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Speaker 1: going to have to do that tough it's final round

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Speaker 1: of negotiation and say, okay, this is the absolute last thing.

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Speaker 1: And it does sound like we could potentially be within

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Speaker 1: a day or two of that, but they can always

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Speaker 1: stretch it out like they have a history of doing.

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Speaker 1: Yes indeed, and you know, we're gonna want to talk

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Speaker 1: when that happens. Bloomberg Government's Jack Fitzpatrick doing a great

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Speaker 1: job for us on Capitol Hill. And we bring in

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Speaker 1: a lawmaker now who is no stranger to the conversation

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Speaker 1: about infrastructure. Congressman John Garamendi, Democrat from California, serves on

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Speaker 1: the House Transportation and Infrastructure Committee, and it's spent years

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Speaker 1: working to improve water availability to California's farmers and cities.

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Speaker 1: Welcome back, Congressman to Bloomberg. Sound on, it's good to

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Speaker 1: have you, delighted to be with you. Are you worried

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Speaker 1: about this deal falling apart this week or are we

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Speaker 1: moving closer to something real? I think there's a very

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Speaker 1: real problem here. I think that we have fires burning

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Speaker 1: in the West. I think we have the hottest weather ever.

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Speaker 1: I think we have Superstorm is coming and going. And

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Speaker 1: I don't see anything in the Senate bill about how

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Speaker 1: we're going to use this how we're going to build

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Speaker 1: infrastructure for the reality up tomorrow and the years beyond.

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Speaker 1: So does that sound like you're ready for a deal? Well,

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Speaker 1: we put something out of the House of Representatives which

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Speaker 1: we call the invest Act, which is a piece of

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Speaker 1: legislation that aggressively attacked the problems that this country has

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Speaker 1: with infrastructure, UH highways that that are designed for Yesterday,

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Speaker 1: they moved to electrification, the grid systems, UM making sure

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Speaker 1: that we're addressing uh inequities that have been created over

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Speaker 1: the years by UH the infrastructure freeways down through the

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Speaker 1: middle of a of a city, dividing Richmond poor. All

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Speaker 1: of those things were addressed, uh, and including the electrical

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Speaker 1: systems that we're absolutely going to have to have for

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Speaker 1: the future, the grids, the green energy systems, the electrification

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Speaker 1: of of highways, major money going into transit so that

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Speaker 1: people don't have to rely upon cars to get through

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Speaker 1: their cities. All of those things we have. I have

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Speaker 1: no idea And as new as we can tell from

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Speaker 1: the information that's been forthcoming, those are not there books

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Speaker 1: as though the Senate's putting together yesterday's infrastructure bill, and

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Speaker 1: that's a problem. You's got a lot less optimistic than

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Speaker 1: when we spoke with you a couple of weeks ago. Congressman.

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Speaker 1: Has something changed or were you hoping that these items

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Speaker 1: would be inserted into that bipartisan framework. Well, the House

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Speaker 1: has done its work. The House put together a very

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Speaker 1: robust sufficient money, not more than needed, but sufficient money

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Speaker 1: to to build a infrastructure, physical infrastructure for tomorrow. Major

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Speaker 1: effort to deal with transit than trains, uh, and public

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Speaker 1: transportation money for as I said before, and and and policy. Uh,

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Speaker 1: we don't know. Uh. Well, we have some indication that

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Speaker 1: the policies that were in the House bill are being

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Speaker 1: ignored in the Senate. I guess what I'm doing is saying,

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Speaker 1: wait a minute, folks, there's two houses here, and you're

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Speaker 1: going to have to deal with the reality of the

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Speaker 1: House of Representatives having spoken to this issue three months ago,

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Speaker 1: and the Senate doing what the Senate normally does, which

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Speaker 1: is too delayed to though a delay, and ultimately, if

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Speaker 1: the Democrats surely should have learned from the past history,

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Speaker 1: when the Senate starts doing this delay, it basically means

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Speaker 1: that the programs that we work so hard for are

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Speaker 1: going to be ignored. We're talking with Congressman John Garamendi,

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Speaker 1: a Democrat from California. Have to admit, Congressman, I wanted

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Speaker 1: to ask you about all the sticking points we've been here,

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Speaker 1: ring about water resources, the percentage that would be directed

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Speaker 1: to transit funding, maybe the process. This is not necessarily

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Speaker 1: the tone or conversation, but I expected and I'll add

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Speaker 1: to that having heard from Congressman Kevin Brady, your colleague

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Speaker 1: from Texas, Republican ranking member on Ways and Means, told

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Speaker 1: us on Friday that Republicans in the House have major

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Speaker 1: concerns about the way this would be paid for. And

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Speaker 1: about the reconciliation process. Even if the Senate comes up

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Speaker 1: with a deal. Congressman, it sounds like there could be

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Speaker 1: major problems in the House. Oh, absolutely, there clearly could

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Speaker 1: be major pubs in the House. Keep in mind, Kevin

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Speaker 1: Brady grahammed through the two thousand seventeen tax cut that

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Speaker 1: took nearly two trillion dollars out of the treasury without

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Speaker 1: one hearing, not one hearing period. So yeah, Kevin Brady

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Speaker 1: doesn't want anything done to his tax bill. Well, certainly

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Speaker 1: something should be done to his tax bill, but leave

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Speaker 1: that aside for a moment. Thre reality is here that

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Speaker 1: if we're going to spend a trillion dollars on infrastructure,

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Speaker 1: that infrastructure has to be designed for tomorrow, not for

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Speaker 1: the nineteen fifties. And so yes, the percentage for transit

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Speaker 1: is very very important. Water systems, we absolutely have to

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Speaker 1: build water systems for the futures, and those are not

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Speaker 1: going to be dams on rivers. Those are going to

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Speaker 1: be off stream stories. That's going to be recycling, uh, desalinization,

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Speaker 1: things of that sort, and a whole lot of conservation.

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Speaker 1: So my concern is very simple. Everything I've heard about

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Speaker 1: the about the Senate bill, it is yesterday's infrastructure. It

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Speaker 1: doesn't meet the needs of a rapidly changing world. So

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Speaker 1: two questions to that end, Congressman, yesterday's infrastructure. Of course,

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Speaker 1: the roads and bridges, some of which you need fixed

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Speaker 1: in California, were in fact designed in the nineteen fifties,

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Speaker 1: So that's that's obviously yester day. But can't you get

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Speaker 1: some of what you're talking about into the reconciliation bill?

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Speaker 1: If that gets you the heart infrastructure upfront? Can you

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Speaker 1: get some of these issues through reconciliation? Certainly with regard

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Speaker 1: to money, yes, with regard to transit proportion, uh, yes, Uh.

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Speaker 1: In reconciliation you can move money around, and you're gonna

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Speaker 1: also do tax policy and reconciliation. The problem is with

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Speaker 1: regard to the policy issues. And there are fundamental policy

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Speaker 1: issues that hopefully the Senate will address. We have very

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Speaker 1: little information about what that would be. I've already spoken

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Speaker 1: to some of the policy issues that we think are important.

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Speaker 1: It sounds like we have some major question marks here.

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Speaker 1: Congressman John Garamendi of California, thank you for bringing them

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Speaker 1: to us. Welcome to Bloomberg Sound On for Monday. I'm

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Speaker 1: Joe Matthew in Washington. We had to crinkle up the

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Speaker 1: script there a little bit. You never know what you

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Speaker 1: gonna get sometimes in live radio, and that is why

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Speaker 1: we are here. Our conversation that you just heard with

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Speaker 1: Congressman Garamendi is one that kind of changed the tone

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Speaker 1: of this whole thing, and we want to bring in

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Speaker 1: Bloomberg Politics contributors Genie she and Zano and Rick Davis.

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Speaker 1: Welcome to Monday, guys. You were listening to that conversation

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Speaker 1: with a Democrat from California who has been supportive for

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Speaker 1: the most part of this whole concept, it sounded a

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Speaker 1: lot more like Kevin Brady. I hate to compare them,

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Speaker 1: but a Republican in the House who was saying, whoa, whoa,

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Speaker 1: put the brakes on on the Senate. This is another

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Speaker 1: legislative body here, and we have our own ideas about things. Rick,

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Speaker 1: as a Republican, what were you hearing in that conversation

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Speaker 1: and how much of a concern should it be for

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Speaker 1: the White House? Well, John uh or John Garamanti, the

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Speaker 1: congressman you were talking to, obviously had a bone pick

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Speaker 1: with the Senate and also with his only Republican counterparty

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Speaker 1: on the Ways of Means Committee. So I think we

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Speaker 1: got him in a mood. But he's right. I mean,

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Speaker 1: they passed the invest Act. It's a seven and sixty

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Speaker 1: billion dollar bill to focus on infrastructure, and it focuses

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Speaker 1: a lot on the sort of e UM activity around

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Speaker 1: cars and trucks and and but when was that supposed

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Speaker 1: to be a blueprint for this bipartisan deal or did

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Speaker 1: I miss? The House usually does their work and the

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Speaker 1: Senate does their work, and that's why they have a

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Speaker 1: conference committee that gets together at the end and sort

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Speaker 1: of reconciles everything. And so you know, I mean, obviously

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Speaker 1: they sentence getting a lot of attention. They're the ones

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Speaker 1: writing infrastructure bill. They're the ones who are going to

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Speaker 1: get the attention of the president. And so there's always

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Speaker 1: been uh, this kind of uh maybe jealousy is too

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Speaker 1: strong a word. But the actions in the Senate right now,

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Speaker 1: and the House, as he pointed out, has done their work.

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Speaker 1: We've already come up with this. But it was a

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Speaker 1: straight line party vote. Right If the Democrats had majorities

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Speaker 1: in the Senate that they could rely upon they do

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Speaker 1: the same thing. But they don't, so they're forced to

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Speaker 1: have to deal with their Republican counterparts. So, Gennie, what

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Speaker 1: was it like to listen into that? Was it a

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Speaker 1: change of course? And my gosh, what would the White

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Speaker 1: House think hearing that conversation. I thought it was an

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Speaker 1: absolutely stunning interview because you know, the thing that stood

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Speaker 1: out to me was was Representative Garamendi describing this as

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Speaker 1: yesterday's infrastructure bill, and in his defense, his district is

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Speaker 1: you know in you know, in flames. You know they're superstorms,

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Speaker 1: not just you know in Europe, but in parts of

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Speaker 1: Asia and around the world. Um, you know, there is

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Speaker 1: you know, he is really, I think reflecting something we

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Speaker 1: heard Nancy Pelosi say over the weekend on one of

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Speaker 1: the Sunday shows about the lack of focus on things

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Speaker 1: like the environment and the real frustration. And I think

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Speaker 1: this is why we have to be careful, careful when

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Speaker 1: we talk publicly about waiting for this bipartisan infrastructure deal.

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Speaker 1: This is just a written bill. It is we are

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Speaker 1: not close to an agreement. I mean, I think, you know,

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Speaker 1: the White House will probably celebrate once this thing comes out,

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Speaker 1: and I think we'll see it tomorrow Wednesday, But that

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Speaker 1: doesn't even get us halfway where we need to be

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Speaker 1: and Gara Mende is reflecting that in his remarks, as

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Speaker 1: did Brady in your interview on Friday, as did Nancy

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Speaker 1: Pelosi and others over the weekend. So we have a

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Speaker 1: long way to go here, and this, I think is

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Speaker 1: why Nancy Pelosi is saying, I don't have the political

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Speaker 1: will on the my side to move this hard infrastructure

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Speaker 1: built forward without seeing the reconciliation. And I'm not sure

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Speaker 1: we're going to see both. Wow, this is definitely a

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Speaker 1: different conversation than I expected today. Wreak people over the

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Speaker 1: weekend or talking about they're just a couple of things

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Speaker 1: to iron out. So I guess a couple of questions.

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Speaker 1: One was that global offer from the White House an

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Speaker 1: unwise move? Is that the kind of thing that's getting

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Speaker 1: under the skin of guys like the Congressman John Garamendi,

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Speaker 1: Or is this is there more to it than that?

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Speaker 1: It's the playing it out in the news cycle. It's

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Speaker 1: watching the Sunday shows. People are paying too much attention

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Speaker 1: to the Senate. What about us over here in the House. Yeah,

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Speaker 1: I think they were starting to believe their own press.

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Speaker 1: I mean, Republicans were saying nice things about White House

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Speaker 1: officials and their cooperation on this deal, and I think

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Speaker 1: they thought, hell, now it's our chance to take credit, um,

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Speaker 1: you know, in Washington, either trying to make an issue

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Speaker 1: so big that everybody can agree about it, and I

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Speaker 1: think that was their strategy, or so small that there's

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Speaker 1: really not much to it. I think the negotiators in

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Speaker 1: the Senate, we're going for the small role, right. They

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Speaker 1: were trying to get everybody to think small. Right, Oh,

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Speaker 1: there's just a slight modification here and there, it's not

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Speaker 1: gonna affect much. The White House comes in with this big,

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Speaker 1: overarching thing, and I think it's just sort of caught

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Speaker 1: everybody by surprise, no question it. It sort of took

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Speaker 1: a little bit of wind out of the sales of

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Speaker 1: the negotiators. But look, I mean, this is this is

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Speaker 1: on track to happen. They're gonna have to be something

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Speaker 1: bigger than how you pay for metro stations around the

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Speaker 1: country and you know, how you devy up water funds.

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Speaker 1: These are these are minor things that can be negotiated out.

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Speaker 1: All the hard stuff on how you pay for this

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Speaker 1: and and what is actually the money gonna go for

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Speaker 1: is pretty much solved. So I agree with Genie I think,

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Speaker 1: you know, you're probably gonna get a braw agreement between

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Speaker 1: now and the weekend, which is the backstop, right You've

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Speaker 1: got recess coming. Everybody wants to go home. So I

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Speaker 1: think that's the pressure that the negotiators are working under,

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Speaker 1: and they'll get something now. The detail will come in

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Speaker 1: September and October, you know, and hopefully you have a bill,

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Speaker 1: you know, by then, and you can put it into

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Speaker 1: the budget. How about that August recess, Jennie. It has

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Speaker 1: a way of getting things done. Boy, the the lawmakers

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Speaker 1: may fly around a lot, may talk a lot, but

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Speaker 1: they want to be with their families. They want to

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Speaker 1: go home, They have tickets booked. Does that get it

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Speaker 1: done the next week? I think that is you know,

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Speaker 1: a really compelling, you know, reason for them to move

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Speaker 1: forward on this um. We know, Chuck Schumer said today

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Speaker 1: they may have to stay in session. If they don't,

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Speaker 1: that's gonna light a fire. But let's not forget. They

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Speaker 1: also need to get home to take the pulse of

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Speaker 1: their districts as well. They need to know town halls.

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Speaker 1: And it's going to be curious. I'm so anxious to

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Speaker 1: see how people were selling. We heard President Trump for

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Speaker 1: a president over the weekend and trying to convince Republicans

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Speaker 1: to back away from this thing. So these senators and

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Speaker 1: representatives already hear a lot from their districts, and that

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Speaker 1: could either boost chances of this thing happening, I agree

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Speaker 1: with Rick in the fall, or it can diminish them.

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Speaker 1: Look at what happened with the Affordable Care Acts, so

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Speaker 1: that pressure is important. Just remember the town halls that

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Speaker 1: occurred the summer we were debating Obamacare, the A c A.

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Speaker 1: We could get a taste of that coming up, and

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Speaker 1: thank you for spending part of it with us on

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Speaker 1: Bloomberg Radio. Welcome to Sound On. No one knew what

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Speaker 1: transitory meant anyway, right, so why not just speak English?

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Speaker 1: As we read on the terminal, White House shifts messaging

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Speaker 1: on inflation as Republicans attack. We've certainly been hearing a

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Speaker 1: lot about this is the Fed than repeated by President

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Speaker 1: Biden and others in the administration talk about transitory inflation

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Speaker 1: resolving itself towards the end of the year. While Republicans say,

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Speaker 1: you know what, things are expensive, You're paying too much

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Speaker 1: for stuff, and it's a liability, and so expect more

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Speaker 1: plain language. We read and we talk about it now

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Speaker 1: among other issues with Smark old Wine, Senior policy director

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Speaker 1: at the Committee for a Responsible Federal Budget, Mark welcome,

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Speaker 1: Is the White House on the right track by seeking

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Speaker 1: a new vocabulary here? Well, I don't think vocabulary really

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Speaker 1: changes the facts on the ground, which is that we're

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Speaker 1: currently experiencing pretty high inflation. The question is how long

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Speaker 1: is it going to persist? Yeah? Well, and of course

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Speaker 1: what a transitory mean to begin with? Does that mean

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Speaker 1: a duration of time? Does it mean a certain movement

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Speaker 1: maybe we fall from nine to seven percent, for instance,

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Speaker 1: Does it mean that we're done in October or a

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Speaker 1: year from now? Yeah, And I'm not even sure as

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Speaker 1: they know what they mean. Some people are saying transitory

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Speaker 1: means the prices both and they're going to come back

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Speaker 1: down like we used cars, And there's definitely some of that.

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Speaker 1: For others, transitory means the prices go up and then

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Speaker 1: they stay there, and they're not going to keep going

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Speaker 1: up at the same rate. For sure, prices are not

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Speaker 1: going to go up at the rate they have been recently.

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Speaker 1: If they do, we have a very a very big problem. Um.

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Speaker 1: I think the bigger question is how much is the

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Speaker 1: price increased, going to slow down? And are we going

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Speaker 1: to get back to sort of the old two percent

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Speaker 1: a year or we're looking at a new normal where

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Speaker 1: prices are growing faster or in a more volatile way. So,

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Speaker 1: if you're in the administration and you're trying to message this,

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Speaker 1: how do you have that conversation with people who don't

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Speaker 1: know what the heck the feed is or what transitory

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Speaker 1: refers to, what the big book is, and so on

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Speaker 1: with the overnight lending rate? Is this like real jargon

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Speaker 1: for a lot of people. Republicans seem to be doing

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Speaker 1: a better job speaking in sort of kitchen table language. Well,

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Speaker 1: I think right now it's easier to just look at

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Speaker 1: the sticker, at the sticker numbers, but it's really important

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Speaker 1: that sort of economists actually look beyond that, and the

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Speaker 1: White House Commis look beyond that, because at some point

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Speaker 1: the sticker numbers might say the opposite thing. It doesn't

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Speaker 1: tell us what's actually happening with underli inflation. I do

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Speaker 1: think I think the White House is right at this

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Speaker 1: point to focus on the fact that it is a

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Speaker 1: few sectors that are really driveing up this inflation. I

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Speaker 1: think that's the right um way to describe it, UM,

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Speaker 1: But they also need a plan to make sure this

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Speaker 1: inflation does stick to a few sectors and doesn't spill

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Speaker 1: out throughout the entire economy. Does that plan include the

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Speaker 1: FED or or you mean another political policy that becoming

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Speaker 1: from the executive Um? Well, I take a little bit

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Speaker 1: of both. I think the Federal Reserve is in a

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Speaker 1: tough position because UM, they promised basically that they weren't

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Speaker 1: going to raise interest rates until UM, and so I

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Speaker 1: think we got to be careful with our fiscal policy. UM.

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Speaker 1: Not passing huge new unpaid for spending increases your tax

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Speaker 1: cuts to exacerbate the inflation, and sending the right signals

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Speaker 1: UM that we're not going to keep pumping money into

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Speaker 1: the economy when it no longer needs more cash. I'm

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Speaker 1: talking with Mark Goldwine, Senior policy director at the Committee

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Speaker 1: for a Responsible Federal Budget. Can I ask you about

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Speaker 1: the budget for just a moment, because it's funny how

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Speaker 1: often we talk about reconciliation and everybody is an expert here,

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Speaker 1: but the fact of the matter is it's not foregone.

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Speaker 1: You can't do that without a budget, a multi step process.

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Speaker 1: That's that's really just now beginning. Uh, lawmakers need to

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Speaker 1: figure out how to keep the government running and how

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Speaker 1: to form a budget before we can ever get to

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Speaker 1: the infrastructure spending. So where does Nancy Pelosi begin here?

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Speaker 1: That's exactly right. Well, the way that it's supposed to

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Speaker 1: work is the president um submits his budget and then

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Speaker 1: Congress writes their own budget based on what they actually

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Speaker 1: intend to do, and then they work to enact it um.

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Speaker 1: The way it seems like it's more likely to work

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Speaker 1: this time is Congress is going to bread more of

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Speaker 1: a fake budget. They're not going to worry about the

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Speaker 1: top line numbers. They're just gonna worry about what's called

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Speaker 1: these reconciliation instruction which is basically rules to committees to

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Speaker 1: let them right legislation that can then skip the sixty

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Speaker 1: vote filibuster um. And so even that, it's gonna be

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Speaker 1: hard to get fifty Democrats in the Senate and a

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Speaker 1: majority in the House behind um. But maybe it's gonna

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Speaker 1: be easier than doing the hard work of actually how

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Speaker 1: in a real budget. But in terms of the process,

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Speaker 1: you're basically creating a document that has a lot of blanks, right,

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Speaker 1: and we're gonna say, put a headline on this without

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Speaker 1: much under it, and then reconciliation would would effectively build

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Speaker 1: those out, fill in those blanks, and give Democrats the

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Speaker 1: opportunity to do this all on their own. That's that's right.

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Speaker 1: So for example, the budget might say we expect the

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Speaker 1: Finance Committee to reduce deficits by one trillion dollars, and

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Speaker 1: then the Finance Committee is going to have to decide

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Speaker 1: which tax increases to enact, which new programs to to

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Speaker 1: to put forward. The budget resolution doesn't tell them any

431
00:23:33,920 --> 00:23:39,119
Speaker 1: of that. Then there's paying for the government. Looks like

432
00:23:39,119 --> 00:23:41,680
Speaker 1: we're going to have a minibus or maybe a series

433
00:23:41,720 --> 00:23:44,760
Speaker 1: of them. Uh, you don't expect the government shutdown, or

434
00:23:44,760 --> 00:23:47,080
Speaker 1: at least the threat of one as a political tool

435
00:23:47,359 --> 00:23:51,320
Speaker 1: going into the fall. I never expect the overman shutdown,

436
00:23:51,680 --> 00:23:54,119
Speaker 1: and um, you know one out of every ten times

437
00:23:54,119 --> 00:23:57,399
Speaker 1: I'm wrong. So UM, I expect if they're gonna be

438
00:23:57,400 --> 00:23:59,040
Speaker 1: able to fully fund the government. I don't expect it

439
00:23:59,080 --> 00:24:02,680
Speaker 1: to be a problem, but you never know. Anything can happen.

440
00:24:02,960 --> 00:24:04,960
Speaker 1: And we've had a number of shutdowns over the left

441
00:24:05,359 --> 00:24:08,639
Speaker 1: the last decade, and they're they're really disruptive. Based on

442
00:24:08,760 --> 00:24:12,760
Speaker 1: what you're hearing before you leave us, Mark whispers even

443
00:24:12,760 --> 00:24:14,680
Speaker 1: inside the belt Way. Do you expect to buy part

444
00:24:14,720 --> 00:24:17,399
Speaker 1: as an infrastructure agreement to come out of the Senate

445
00:24:17,440 --> 00:24:21,399
Speaker 1: this week? I don't know. Out of the Senate, I

446
00:24:21,760 --> 00:24:24,600
Speaker 1: think more likely than not we get an agreement. Um,

447
00:24:24,600 --> 00:24:28,919
Speaker 1: but maybe I'm at sixty or sixty five. Where were

448
00:24:28,960 --> 00:24:33,520
Speaker 1: you on Friday? On Friday? It was probably so what

449
00:24:33,640 --> 00:24:36,400
Speaker 1: happened over the weekend. The White House go too far

450
00:24:36,440 --> 00:24:39,520
Speaker 1: with that global offer last night, that's what you know.

451
00:24:39,640 --> 00:24:41,480
Speaker 1: I'm reading the same things in the news as you are,

452
00:24:41,560 --> 00:24:44,520
Speaker 1: so I couldn't tell you exactly, but it seems like

453
00:24:44,560 --> 00:24:48,480
Speaker 1: they were about to to reach a deal, and they

454
00:24:48,520 --> 00:24:51,159
Speaker 1: reopened a few a few items I thought they had

455
00:24:51,160 --> 00:24:54,760
Speaker 1: settled on, and now it's like one step forward, six backwards.

456
00:24:55,119 --> 00:24:57,840
Speaker 1: Mark Oldwine, Senior policy director at the Committee for a

457
00:24:57,880 --> 00:25:00,960
Speaker 1: Responsible Federal Budget, echoing a lot of what we have

458
00:25:01,080 --> 00:25:03,480
Speaker 1: heard this hour. By the way, remember what he told

459
00:25:03,560 --> 00:25:07,560
Speaker 1: us about reconciliation. Be smart about this. People are talking

460
00:25:07,600 --> 00:25:09,439
Speaker 1: about it like it's foregone and there's a lot of

461
00:25:09,440 --> 00:25:13,280
Speaker 1: work left to be done. This is Bloomberg sond On

462
00:25:13,800 --> 00:25:19,320
Speaker 1: with Joe Matthew on Bloomberg Radio. So did you wear

463
00:25:19,359 --> 00:25:21,639
Speaker 1: a mask when you went out today, maybe to the store,

464
00:25:21,720 --> 00:25:24,600
Speaker 1: maybe to the office. I know I'm seeing more of

465
00:25:24,640 --> 00:25:28,440
Speaker 1: them around d C. With additional reports now today that

466
00:25:28,480 --> 00:25:33,000
Speaker 1: the White House is considering changing mask guidance as the

467
00:25:33,040 --> 00:25:37,080
Speaker 1: delta variant spreads. Press Secretary Jen Saki was asked about

468
00:25:37,119 --> 00:25:40,280
Speaker 1: it and was deliberate, as always to point to the CDC. There,

469
00:25:40,320 --> 00:25:42,520
Speaker 1: of course is an active discussion about a range of

470
00:25:42,560 --> 00:25:45,320
Speaker 1: steps that can be taken, as there has been from

471
00:25:45,480 --> 00:25:49,119
Speaker 1: the first day of this administration. Certainly the surgeon cases

472
00:25:49,160 --> 00:25:53,440
Speaker 1: among unvaccinated because of the delta variant. UH prompts uh,

473
00:25:53,480 --> 00:25:56,879
Speaker 1: you know, even more discussion about what actions can be taken,

474
00:25:57,080 --> 00:25:59,640
Speaker 1: But we are going to UH. The The CDC looks

475
00:25:59,640 --> 00:26:02,119
Speaker 1: at day up, They look at data across the country,

476
00:26:02,520 --> 00:26:05,280
Speaker 1: in a range of regions across the country, and if

477
00:26:05,320 --> 00:26:07,200
Speaker 1: they make an assessment, we will of course be here

478
00:26:07,240 --> 00:26:11,160
Speaker 1: to follow their guidance. With local jurisdictions. Moving on vaccines,

479
00:26:11,480 --> 00:26:14,280
Speaker 1: as I read on the terminal New York City to

480
00:26:14,359 --> 00:26:20,320
Speaker 1: require vaccines or weekly testing for city workers. Mayor do

481
00:26:20,440 --> 00:26:24,440
Speaker 1: Blasio talking about that earlier today. Each private sector employer

482
00:26:24,520 --> 00:26:26,359
Speaker 1: needs to do what they believe is right. But I

483
00:26:26,359 --> 00:26:31,040
Speaker 1: would strongly urge a vaccination mandate whenever possible or as

484
00:26:31,080 --> 00:26:33,760
Speaker 1: close to it as possible. That goes by the way

485
00:26:33,760 --> 00:26:37,800
Speaker 1: in New York City. Teachers and police officers included here

486
00:26:37,840 --> 00:26:43,119
Speaker 1: in California also moving on its own today with vaccines

487
00:26:43,560 --> 00:26:46,359
Speaker 1: important stuff that, of course the White House is watching

488
00:26:46,560 --> 00:26:49,880
Speaker 1: very closely. And we're joined by Rick and Genie once

489
00:26:49,880 --> 00:26:53,200
Speaker 1: again our political panel Bloomberg Politics contributors Genie she and

490
00:26:53,280 --> 00:26:56,479
Speaker 1: Zano and Rick Davis. We got into this little bit, Genie,

491
00:26:56,480 --> 00:26:59,040
Speaker 1: but the pressure is clearly still on the White House here.

492
00:26:59,640 --> 00:27:01,359
Speaker 1: The word read though, is that we are going to

493
00:27:01,400 --> 00:27:04,280
Speaker 1: remove a reward for getting a vaccine. Right if you

494
00:27:05,480 --> 00:27:09,200
Speaker 1: require people to continue wearing masks, then why get the shot.

495
00:27:10,160 --> 00:27:12,679
Speaker 1: There is concern about that, and that was one of

496
00:27:12,720 --> 00:27:15,520
Speaker 1: the reasons when they initially lifted the mass mandate, as

497
00:27:15,560 --> 00:27:18,640
Speaker 1: we all recall, was to sort of reward, if you will,

498
00:27:18,720 --> 00:27:20,840
Speaker 1: people who went out and got the vaccination. But of

499
00:27:20,880 --> 00:27:23,720
Speaker 1: course now they were under pressure as these numbers mount.

500
00:27:24,160 --> 00:27:26,280
Speaker 1: And I think it's very important what you were just

501
00:27:26,320 --> 00:27:28,760
Speaker 1: talking about, what Bill the Blasio in New York City,

502
00:27:29,000 --> 00:27:31,679
Speaker 1: what the state of California is doing. We're hearing that

503
00:27:31,760 --> 00:27:35,080
Speaker 1: the Department of Veterans Affairs is the first federal agency

504
00:27:35,160 --> 00:27:39,000
Speaker 1: to mandate some type of vaccination for employees. So I

505
00:27:39,040 --> 00:27:40,800
Speaker 1: think we're going to see more and more of that

506
00:27:40,880 --> 00:27:43,840
Speaker 1: out of the public and the private sector. That may

507
00:27:43,920 --> 00:27:47,080
Speaker 1: go a long way to helping sort of encourage people

508
00:27:47,119 --> 00:27:50,800
Speaker 1: to get vaccinated or have to go through as we've done.

509
00:27:50,960 --> 00:27:54,040
Speaker 1: We know ourselves, the weekly testing or the daily testing

510
00:27:54,080 --> 00:27:55,960
Speaker 1: as it well. Um, so I think there's going to

511
00:27:56,040 --> 00:27:58,120
Speaker 1: be some of that there. But if these numbers don't

512
00:27:58,160 --> 00:28:00,440
Speaker 1: turn around, I do think the White House may be

513
00:28:00,520 --> 00:28:02,960
Speaker 1: in a position of making a really difficult decision. And

514
00:28:03,080 --> 00:28:06,280
Speaker 1: let's not forget you have governors in certain red stage

515
00:28:06,320 --> 00:28:09,639
Speaker 1: Florida in particular, Texas and others who are saying they

516
00:28:09,680 --> 00:28:12,520
Speaker 1: will not put mass mandates into place. Why not just

517
00:28:12,640 --> 00:28:15,800
Speaker 1: rip off the band aid here? Rick? Does everyone seem

518
00:28:15,840 --> 00:28:18,639
Speaker 1: to think this is going to happen anyway? Jen Psaki

519
00:28:18,760 --> 00:28:21,439
Speaker 1: points to the c d C as if it's some

520
00:28:21,560 --> 00:28:24,520
Speaker 1: completely different organization. They're talking about this every day and

521
00:28:24,560 --> 00:28:27,119
Speaker 1: they're looking at the same data we are. Yeah, and

522
00:28:27,480 --> 00:28:31,240
Speaker 1: talk about confusing, Right, Can the government just communicate with

523
00:28:31,280 --> 00:28:34,560
Speaker 1: the American public through one voice? I mean, now for

524
00:28:34,680 --> 00:28:37,480
Speaker 1: us to have to navigate what all these different warnings

525
00:28:37,520 --> 00:28:40,719
Speaker 1: mean how they apply to my locality? And what if

526
00:28:40,720 --> 00:28:42,760
Speaker 1: I get on an airplane and go somewhere else, how's

527
00:28:42,760 --> 00:28:45,640
Speaker 1: it going to apply to me there. I think that

528
00:28:45,760 --> 00:28:50,320
Speaker 1: this administration is losing sight of the original concept they

529
00:28:50,560 --> 00:28:52,840
Speaker 1: devoted so much time, money, and energy into, and that

530
00:28:53,000 --> 00:28:56,280
Speaker 1: was get everybody vaccinated, right. I mean, like, this is

531
00:28:57,000 --> 00:29:00,480
Speaker 1: what will cure the issues with mass with school, with

532
00:29:00,520 --> 00:29:04,120
Speaker 1: businesses reopening, is to be able to continue to drive

533
00:29:04,160 --> 00:29:08,840
Speaker 1: people to vaccination. And my understanding from latest reports is

534
00:29:08,840 --> 00:29:11,440
Speaker 1: there's been a tick up, so some of that has

535
00:29:11,480 --> 00:29:14,080
Speaker 1: started to work. But now to distract everybody with these

536
00:29:14,120 --> 00:29:18,560
Speaker 1: mask issues that are really going to be local decisions anyway,

537
00:29:19,080 --> 00:29:21,040
Speaker 1: I think are just going to add confusion to what's

538
00:29:21,080 --> 00:29:25,360
Speaker 1: already been a bewildering pandemic. We have seen some increase

539
00:29:25,520 --> 00:29:28,800
Speaker 1: in the vaccination rate, a slight increase since the latest

540
00:29:28,840 --> 00:29:32,400
Speaker 1: campaign began. The New York City deadline, by the way,

541
00:29:32,440 --> 00:29:35,280
Speaker 1: September thirteen, that coincides with the start of public school,

542
00:29:35,920 --> 00:29:38,760
Speaker 1: which is important here as we look forward uh to

543
00:29:38,960 --> 00:29:42,760
Speaker 1: potentially some big changes taking hold. In September. In California,

544
00:29:42,800 --> 00:29:45,920
Speaker 1: officials there by the way, announcing that state employees and

545
00:29:46,000 --> 00:29:49,880
Speaker 1: all healthcare workers will be required to either approve they

546
00:29:49,920 --> 00:29:54,960
Speaker 1: have a vaccination or be tested weekly. Here. Uh boy,

547
00:29:55,000 --> 00:29:57,960
Speaker 1: I'll tell you Genie, She and Zano this is really

548
00:29:58,000 --> 00:30:00,960
Speaker 1: concerning when we factor in the economic recovery and the

549
00:30:01,080 --> 00:30:04,840
Speaker 1: politics around all of this as its own issue. Jen

550
00:30:04,960 --> 00:30:07,480
Speaker 1: Saki was asked about this by the reporter at Fox

551
00:30:07,520 --> 00:30:11,320
Speaker 1: News following comments from Dr Faucci that we're moving in

552
00:30:11,360 --> 00:30:14,280
Speaker 1: the wrong direction. Dr Fauci says we're going in the

553
00:30:14,280 --> 00:30:19,160
Speaker 1: wrong direction. Whose fault is that? Well, I would say first,

554
00:30:19,200 --> 00:30:21,960
Speaker 1: what he was referring to is the fact that because

555
00:30:22,000 --> 00:30:24,680
Speaker 1: there are still a large population of people in this

556
00:30:24,760 --> 00:30:28,080
Speaker 1: country who are unvaccinated and we have the most transmissible

557
00:30:28,200 --> 00:30:31,520
Speaker 1: variants that we've seen since the beginning of the pandemic,

558
00:30:32,200 --> 00:30:35,560
Speaker 1: that more people are getting sick with COVID and that's

559
00:30:35,560 --> 00:30:37,960
Speaker 1: not those numbers are not moving in the right direction.

560
00:30:37,960 --> 00:30:39,800
Speaker 1: I think that's accurate, and you can see it by data.

561
00:30:39,920 --> 00:30:44,200
Speaker 1: But reporters, Genie are still looking for blame. They are,

562
00:30:44,440 --> 00:30:47,920
Speaker 1: and you know Dr Facci also talking over the weekend

563
00:30:48,000 --> 00:30:51,720
Speaker 1: about booster shots for certain people who have already been vaccinated.

564
00:30:51,760 --> 00:30:55,720
Speaker 1: To Rick's point, this gets very very confusing. Um, and

565
00:30:55,920 --> 00:30:58,440
Speaker 1: you know whether the White House likes it or not,

566
00:30:58,960 --> 00:31:02,200
Speaker 1: they will bear the brunt of the blame if these

567
00:31:02,280 --> 00:31:05,480
Speaker 1: numbers don't start to go in the opposite direction. And

568
00:31:05,520 --> 00:31:08,800
Speaker 1: I think what has got to be particularly frustrating is

569
00:31:08,840 --> 00:31:11,560
Speaker 1: that many of us thought that if these numbers went up,

570
00:31:11,560 --> 00:31:13,560
Speaker 1: it would be in the fall, as the weather starts

571
00:31:13,600 --> 00:31:15,760
Speaker 1: to get cooler. To see this happening in the summer

572
00:31:15,880 --> 00:31:19,120
Speaker 1: is very disheartening. One thing I would add is that

573
00:31:19,240 --> 00:31:21,520
Speaker 1: we should also be pressing on the f d A

574
00:31:21,680 --> 00:31:25,920
Speaker 1: for full approval of these vaccines. This emergency authorization sort

575
00:31:25,960 --> 00:31:29,200
Speaker 1: of middle ground, has given some people a sense that

576
00:31:29,320 --> 00:31:31,640
Speaker 1: the government is not you know, you haven't approved this

577
00:31:31,720 --> 00:31:34,600
Speaker 1: fully yet, why should I get vaccinated? And they're waiting

578
00:31:34,640 --> 00:31:37,240
Speaker 1: for that. So those steps have got to take place,

579
00:31:37,280 --> 00:31:39,720
Speaker 1: and the Biden administration has got to keep their eye

580
00:31:39,760 --> 00:31:41,600
Speaker 1: on the ball. All these other things they want to

581
00:31:41,640 --> 00:31:43,720
Speaker 1: do are going to fall by the wayside if these

582
00:31:43,800 --> 00:31:46,320
Speaker 1: numbers continue to go up. I want to turn to

583
00:31:46,520 --> 00:31:48,880
Speaker 1: something important that's going to happen tomorrow, because there was

584
00:31:48,920 --> 00:31:50,840
Speaker 1: a lot of talk about it today on both ends

585
00:31:50,840 --> 00:31:53,440
Speaker 1: of Pennsylvania Avenue, and that is the House Select Committee

586
00:31:54,040 --> 00:31:57,120
Speaker 1: investigating January six. I ask you this because they have

587
00:31:57,280 --> 00:31:59,800
Speaker 1: the first hearing scheduled for tomorrow. We're going to hear

588
00:31:59,840 --> 00:32:03,040
Speaker 1: for from a couple of police officers, to Capitol police,

589
00:32:03,360 --> 00:32:05,960
Speaker 1: to district police officers who were there. And you can

590
00:32:06,000 --> 00:32:09,240
Speaker 1: just imagine the stories, the horrible video and the sounds

591
00:32:09,280 --> 00:32:12,440
Speaker 1: that will be replayed. The back and forth today though,

592
00:32:12,760 --> 00:32:15,960
Speaker 1: between the Republican leader in the House and the White

593
00:32:15,960 --> 00:32:20,040
Speaker 1: House was really something ad Liz Cheney, and boy, you've

594
00:32:20,080 --> 00:32:23,520
Speaker 1: got quite a story here. Is Kevin McCarthy, the Republican

595
00:32:23,600 --> 00:32:25,440
Speaker 1: leader in the US House, at the White House today

596
00:32:25,440 --> 00:32:27,520
Speaker 1: for an event. Some reporters got to him in the

597
00:32:27,600 --> 00:32:31,560
Speaker 1: Rose Garden following news over the weekend that Republican Congressman

598
00:32:31,600 --> 00:32:34,960
Speaker 1: Adam Kinzinger was being added by Nancy Pelosi to this panel.

599
00:32:36,240 --> 00:32:40,720
Speaker 1: And Kevin McCarthy was asked about the politics around this

600
00:32:40,880 --> 00:32:45,400
Speaker 1: and the names being added to that body. Who was

601
00:32:45,440 --> 00:32:50,240
Speaker 1: that Adam in this? Are Pelosi Republicans? He says, aren't they?

602
00:32:50,280 --> 00:32:54,680
Speaker 1: Kind of Pelosi Republicans referring to Adam Kinzinger and Liz Cheney.

603
00:32:55,920 --> 00:32:59,160
Speaker 1: And reporter has got to Congresswoman Cheney today in the

604
00:32:59,200 --> 00:33:05,680
Speaker 1: halls of Congress. She didn't hold back important work to do,

605
00:33:06,240 --> 00:33:10,560
Speaker 1: and I think that's pretty childish. She said that McCarthy's

606
00:33:10,600 --> 00:33:15,920
Speaker 1: comments were childish. Rick Davis, We're dealing with some really

607
00:33:16,040 --> 00:33:19,200
Speaker 1: tough stuff here. The politics surrounding it are not making

608
00:33:19,200 --> 00:33:22,720
Speaker 1: it easier. But Nancy Pelosi still holds the cards here, right, Yeah,

609
00:33:22,800 --> 00:33:25,320
Speaker 1: Nancy Pelosi holds the cards. As you point out, there's

610
00:33:25,320 --> 00:33:28,680
Speaker 1: gonna be hearings and it's going to be public and

611
00:33:28,720 --> 00:33:30,960
Speaker 1: I think that there's a lot of effort to try

612
00:33:31,160 --> 00:33:35,280
Speaker 1: and correct misinformation. Campaigns are going on about the fact

613
00:33:35,280 --> 00:33:37,680
Speaker 1: that oh my gosh, this wasn't anything but a bunch

614
00:33:37,720 --> 00:33:40,560
Speaker 1: of you know, uh, tourists coming to the capital. They

615
00:33:40,560 --> 00:33:42,360
Speaker 1: were invited in by the police. So this is going

616
00:33:42,400 --> 00:33:45,440
Speaker 1: to try and track change that record, put it back

617
00:33:45,440 --> 00:33:48,000
Speaker 1: to where it was, you know, the day after. And

618
00:33:48,000 --> 00:33:50,920
Speaker 1: and look, I mean you have to look at these opportunities,

619
00:33:51,000 --> 00:33:54,160
Speaker 1: especially for people like Liz Cheney and Adam Consigger. Is

620
00:33:54,160 --> 00:33:56,360
Speaker 1: the which side of history do you want to be

621
00:33:56,480 --> 00:33:58,760
Speaker 1: on when all of this is done. This is not

622
00:33:58,880 --> 00:34:01,200
Speaker 1: going to be some short term payoff. It's gonna be

623
00:34:01,240 --> 00:34:03,640
Speaker 1: a lot of pain. Uh. They're not going to get

624
00:34:03,640 --> 00:34:06,000
Speaker 1: any credit for this back home. But at the end

625
00:34:06,040 --> 00:34:08,000
Speaker 1: of the day, will they be on the right side

626
00:34:08,040 --> 00:34:10,840
Speaker 1: of history? And that's why they've made decisions to participate

627
00:34:10,880 --> 00:34:15,280
Speaker 1: in this commission. This isn't exactly a story for this program, Genie.

628
00:34:15,280 --> 00:34:18,000
Speaker 1: The reason why I ask about January six is the

629
00:34:18,120 --> 00:34:21,280
Speaker 1: vitriol and the divisions surrounding it. There are so many

630
00:34:21,320 --> 00:34:25,080
Speaker 1: other things that we are debating right now that are

631
00:34:25,120 --> 00:34:30,279
Speaker 1: we we are supposedly negotiating with two parties, uh, that

632
00:34:30,400 --> 00:34:33,920
Speaker 1: can't even get this done here. If there's a big

633
00:34:33,960 --> 00:34:37,080
Speaker 1: break in there appears to be already between Democrats and

634
00:34:37,080 --> 00:34:41,440
Speaker 1: Republicans on simply investigating January six, What will that do

635
00:34:42,239 --> 00:34:45,120
Speaker 1: to all the rest of Congress's ability to get anything

636
00:34:45,120 --> 00:34:48,080
Speaker 1: done in the months ahead? You know, I think it's

637
00:34:48,120 --> 00:34:51,560
Speaker 1: another added element of what we see as we look

638
00:34:51,640 --> 00:34:54,480
Speaker 1: at the Congress today, not only these two houses, not

639
00:34:54,560 --> 00:34:58,400
Speaker 1: only these two parties, but factions within each of these parties.

640
00:34:58,400 --> 00:35:01,200
Speaker 1: So you're almost looking at six differ parts of Congress

641
00:35:01,239 --> 00:35:04,120
Speaker 1: here as you talk about Liz Cheney and Adam Kissinger

642
00:35:04,160 --> 00:35:07,400
Speaker 1: on the one side, um and you know McCarthy on

643
00:35:07,440 --> 00:35:09,719
Speaker 1: the other, And you see a similar sort of not

644
00:35:09,800 --> 00:35:13,399
Speaker 1: as dramatic these days, between progressives and more moderates as

645
00:35:13,400 --> 00:35:17,160
Speaker 1: they all look towards you know, two and we're hearing

646
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Speaker 1: today real concern amongst Democrats that the voting changes and

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Speaker 1: voting laws at the state level in places like Georgia

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Speaker 1: may have a real impact on their ability to hold

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Speaker 1: the House and the Senate in two Um. So you

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Speaker 1: couple this all together and you add on to it,

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Speaker 1: you know, really tough debates about infrastructure, voting rights, police reform,

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Speaker 1: and you know, it just becomes difficult to imagine that

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Speaker 1: they could get much done. But I will say, we

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Speaker 1: had an attack on the Capitol on January six, it

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Speaker 1: would be a dereliction of duty for anyone to impede

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Speaker 1: an investigation of that in Congress. As Republicans do that,

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Speaker 1: they are going to be on the wrong side of history.

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Speaker 1: As Rick said, there is no question about that. And

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Speaker 1: so this is something I think has to be done

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Speaker 1: in as you know, bipartisan away as possible, which is

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Speaker 1: difficult these days. We're out of time almost here, Rick.

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Speaker 1: But does the division around January six threatened to derail

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Speaker 1: debate around other important policy issues. Probably not. I mean,

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Speaker 1: all of these things can be managed in their their

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Speaker 1: own vacuum. It's not going to add any positives, but

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Speaker 1: it shouldn't keep too many things from happening otherwise. Always

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Speaker 1: great to spend time with Rick and Jeanie and with you.

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Speaker 1: Thanks for making Bloomberg sound on part of your day.

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Speaker 1: We'll meet you back here tomorrow. I'm Joe Matthew in Washington.

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Speaker 1: This is Bloomberg