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Speaker 1: Broadcasting line from our nation's capital, Bloomberg to New York,

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Speaker 1: Bloomberg eleven Frio to San Francisco, Bloomberg to the country

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Speaker 1: Sirius XM General one ninety and around the globe the

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Speaker 1: Bloomberg Business app and Bloomberg Radio dot Com. This is

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Speaker 1: Bloomberg Sound On with Kevin Cirelli. President Joe Biden boosts

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Speaker 1: health education in one and a half trillion dollar budget request,

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Speaker 1: and that's in addition to the two and a quarter

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Speaker 1: trillion he wants for infrastructure. We check in with Congressman

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Speaker 1: Brendan Boyle, Democrat from outside of Philly. First, though, let's

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Speaker 1: get a market check from Shawley Pellet. All right, I'm

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Speaker 1: Kevin CURRELLI, Chief Washington correspondent for Bloomberg TV and for

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Speaker 1: Bloomberg Radio. We begin tonight with the big story, which,

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Speaker 1: of course, is that budget request coming in at more

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Speaker 1: than one and a half trillion dollars in at this

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Speaker 1: in to the infrastructure proposal. I've got sound on this

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Speaker 1: infrastructure proposal from Secretary Pete buddhag Edge. He was answering

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Speaker 1: questions about the budget as well as about infrastructure and

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Speaker 1: how they're going to afford it. Take a listen to

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Speaker 1: the sound on how they're going to afford it. Here

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Speaker 1: is I'm convinced that this is the best chance in

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Speaker 1: our lifetimes to make a generational investment in infrastructure, and

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Speaker 1: that's what the American Jobs Plan does. The need is clear,

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Speaker 1: it's growing by the day. After decades of under investment,

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Speaker 1: we have fallen to thirteenth place globally in infrastructure. He

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Speaker 1: went on to talk about raising taxes. Here's the sound

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Speaker 1: on taxes. I've heard the presidents say that this is

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Speaker 1: going to be a process of negotiation, that we're going

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Speaker 1: to take ideas on board, that there's going to be

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Speaker 1: a refinement as we go. Um, I haven't heard a

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Speaker 1: proposal that I consider to be better than the one

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Speaker 1: the President put forward. Joining us now with the All

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Speaker 1: Star Policy Panel team are Bloomberg contributors Rick Davis and

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Speaker 1: Jeanie Schanzano and Congressman Brendan Boyle. He is a Democrat

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Speaker 1: from Pennsylvania's second congressional district and represents parts of Philadelphia

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Speaker 1: and the outskirts of the City of Brotherly Love as well.

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Speaker 1: All right, Congressman, great to have you on. How are

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Speaker 1: we gonna pay for all this for all the infrastructure.

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Speaker 1: The budget and I know the budget typically is just

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Speaker 1: a messaging bill, but either way you slice and dice,

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Speaker 1: it's a lot of money. Yeah. Well, first, it's just

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Speaker 1: always great to be on with you and and everyone

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Speaker 1: else there, Kevin. I also just have to point out

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Speaker 1: that literally every Friday I have joined you guys, the

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Speaker 1: down and the NASDAC have been opt I don't know

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Speaker 1: if you've noticed that. I think I think Bloomberg needs

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Speaker 1: to start reporting on this the boil effect. Put it

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Speaker 1: in the terminal pull up the VICS boiled chart. Go ahead,

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Speaker 1: boiled go that's the that's our terminal function. You least

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Speaker 1: have to call the boil on show effect, you know,

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Speaker 1: don't thank you know it also your business though. Look

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Speaker 1: I think that Pete in the clip that you played before, um, absolutely,

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Speaker 1: you know, nailed it on the head. I mean, this

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Speaker 1: is a once in a generation opportunity to really go big.

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Speaker 1: And last time I was on, we were talking about

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Speaker 1: the American Jobs Plan. You can see how the U

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Speaker 1: and just to be clear, I mean what was released

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Speaker 1: today as part of the annual budget process. It's separate

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Speaker 1: from the American Jobs Plan, but you can see how

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Speaker 1: they're complementary. I mean, it is a big bill, It

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Speaker 1: is a lot of spending, and this moment is unique

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Speaker 1: because it's the first time in my lifetime that the

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Speaker 1: policy window is open for making these massive investments. I mean,

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Speaker 1: think about the nineteen eighties, was government is not the

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Speaker 1: solution to our problem? Government is the problem? Es even

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Speaker 1: the Democratic president saying the Arab the government is over

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Speaker 1: two thousands. You have two rounds of Bush tax cuts,

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Speaker 1: and even half of the Obama stimulus was tax cuts.

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Speaker 1: So at this moment, after COVID, there is an appetite

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Speaker 1: among the America and people, even registered Republicans for this

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Speaker 1: sort of spending. You know, let me let me follow

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Speaker 1: up on this, because I think this is a really

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Speaker 1: important point, folks. Is even the divide amongst Republicans. Uh,

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Speaker 1: they're saying they don't want to spend two and a

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Speaker 1: quarter trillion dollars, They're still suggesting that they need to

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Speaker 1: make at least a you know, a trillion dollars worth

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Speaker 1: of an investment in infrastructure. So, just more broadly, taking

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Speaker 1: alf off the partisan analysis but talking about it in

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Speaker 1: a more geopolitical lens, America is in a position and

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Speaker 1: has been for the last year where they're willing to

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Speaker 1: spend and spend big for the first time in decades. Right, yeah,

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Speaker 1: I mean, as I pointed out, this is the first

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Speaker 1: time in my lifetime. Um, I mean I cited the

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Speaker 1: history from you know, January all the way up until

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Speaker 1: this past year. This is the first time we've really

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Speaker 1: seen it. I also want to point out that when

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Speaker 1: we talk, when we say and use the word Republicans,

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Speaker 1: I think we have to be clear are we talking

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Speaker 1: about Republican elected officials or Republican voters Because right now

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Speaker 1: the point they are at odds, Republican voters agree with

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Speaker 1: us on the infrastructure bill, agreed with us on the

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Speaker 1: American Jobs Plan. UM. Polling obviously hasn't come out yet

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Speaker 1: on on this budget, but I assume it would show

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Speaker 1: something similar. So we might not be getting support from

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Speaker 1: elected Republicans in Congress, but boy, if there are a

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Speaker 1: lot of Republicans throughout the country that are also are

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Speaker 1: on board with this kind of spending, well, you know,

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Speaker 1: let's talk a little bit about that spending because with

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Speaker 1: spending requires revenue, you know, and I think if Joe

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Speaker 1: Biden had come out, you know, prior to the election,

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Speaker 1: and said, look, my first hundred days, I'm going to

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Speaker 1: announce six trillion dollars in new domestic spending. UM. I

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Speaker 1: think that would have been a big campaign issue and

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Speaker 1: and the question would have been asked if at that time, So, Joe,

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Speaker 1: how are you going to pay for that? We we've

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Speaker 1: we bay sickly saw. The stimulus was just all, you know,

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Speaker 1: sort of deficit spending. UH. Now we have a two

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Speaker 1: point to five trillion dollar infrastructure bill, which is going

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Speaker 1: to come out of fifteen years of increased corporate UH

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Speaker 1: taxes at a higher rate UM. And and now an

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Speaker 1: additional one point five to trillion that's gonna come right

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Speaker 1: out of tax revenue, which isn't going to be able

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Speaker 1: to cover that amount unless we have some huge increase

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Speaker 1: in in revenue to the I R S. So so

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Speaker 1: the question I would have is, like, all these things

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Speaker 1: sound great as you say. I mean, people when they

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Speaker 1: hear a program like, oh, yeah, that'll be great for

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Speaker 1: my schools and absolutely for healthcare, But like when they

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Speaker 1: find out that they've just had you know, six trillion

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Speaker 1: dollars a debt pile up on top of the deficit, UM,

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Speaker 1: what what do you think the reaction is gonna be then,

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Speaker 1: because that really hasn't become part of the debate at

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Speaker 1: this stage. Yeah, it's not just great for the things

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Speaker 1: you cited. I would also point out it's it's obviously

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Speaker 1: been great for the market as well and well received

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Speaker 1: by them. As much as I made the implication it

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Speaker 1: was somehow me appearing on the show, in fact, I

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Speaker 1: think all of the stimulus spending that we're seeing it

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Speaker 1: clearly had a you know, positive effect on on what's

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Speaker 1: been going on on the street. Now you raise, I

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Speaker 1: think an intellectually honest question, which is how do we

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Speaker 1: pay for it? And if you're coming from a traditional

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Speaker 1: economic conservative viewpoint, I understand the heartburn there. Um in

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Speaker 1: my view, doing this in a blended way in which

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Speaker 1: some of it is debt finance. I'm talking about infrastructure

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Speaker 1: in which some of it is debt finance, knowing that

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Speaker 1: there is a demonstrated return on investment, while at the

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Speaker 1: same time we raise revenue not to meet the entire

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Speaker 1: total sum, but to meet part of it. So, you know,

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Speaker 1: you cited it before the campaign. You know, someone said

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Speaker 1: or Joe Biden were to say, well, I'm gonna raise

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Speaker 1: spending by six trillion that in the abstract, You're right,

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Speaker 1: probably wouldn't have you won a lot of votes. But

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Speaker 1: if you say, I'm going to make historic investments in

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Speaker 1: our infrastructure which have been neglected for decades, Donald Trump

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Speaker 1: talked about it, failed to do it. I'm actually going

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Speaker 1: to do it and work with Congress. And here's how

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Speaker 1: we're gonna pay for it. That cut in corporate tax

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Speaker 1: rates that corporations got, dropping from the thirty percent rate,

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Speaker 1: We're simply going to put that back somewhere in the middle,

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Speaker 1: probably at the range that alone raises one trillion dollars

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Speaker 1: over fifteen years. I think that would have won him

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Speaker 1: a lot of votes, and I think did in November.

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Speaker 1: And I think that particular aspect, especially when you combine

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Speaker 1: it with the data out there that so many corporations

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Speaker 1: haven't paid anything in taxes. Boy, that is pretty popular

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Speaker 1: right now. And again that's sort of populism, even has

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Speaker 1: support among some registered Republicans. So representative Boile, Um, I

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Speaker 1: wish you were as good luck a charm on me

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Speaker 1: as you are in the market. So I'm thrilled to

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Speaker 1: talk to you. UM. As we know these um the

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Speaker 1: presidential budgets, even when you have a party that controls

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Speaker 1: Congress UM in larger numbers than Democrats do today. Always

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Speaker 1: go through a lot of you know, a lot of

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Speaker 1: machin nations before they come out on the other side.

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Speaker 1: So while we hear what Joe Biden and his team

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Speaker 1: would like, what do you betting happens in Congress with

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Speaker 1: this budget? What particularly do you think they are going

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Speaker 1: to add to For instance, you know there's been a

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Speaker 1: lot of talk today in terms of defense spending. Do

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Speaker 1: you think Congress uh pushes back against that? Where do

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Speaker 1: you think this thing changes as it goes through Congress? Yeah, well,

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Speaker 1: let me speak about the House and and sent it separately.

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Speaker 1: On this first. As far as the House, you're right,

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Speaker 1: I mean, this is an incredibly narrow majority, one of

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Speaker 1: the most narrow in our nation's history. Um. But there's

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Speaker 1: something counterintuitive about that in some ways, believe it or not,

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Speaker 1: it is easier to keep your team, so to speak,

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Speaker 1: on the same page and voting the same way when

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Speaker 1: everyone knows there really are no free passes, that everyone

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Speaker 1: has to vote for it, and if you don't vote

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Speaker 1: for it, you would be the one who is thinking it. Um.

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Speaker 1: I was part of the first term I served in

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Speaker 1: Harrisburg in the state House a dozen years ago. I

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Speaker 1: was part of a one oh three to one hundred

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Speaker 1: majority then, and it was exactly the same thing. We

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Speaker 1: knew that we couldn't lose one person really on any

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Speaker 1: vote UM and it ended up helping leadership enforced that

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Speaker 1: sort of discipline. Sometimes it's more difficult when you have

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Speaker 1: a bigger majority and people feel like, um, they can

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Speaker 1: go off and freelance. Now, the Senate has its own

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Speaker 1: unique situation which gets a lot of attention because of

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Speaker 1: the filipbuster. It does seem both for the infrastructure bill

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Speaker 1: as well as for the budget. You know, the reconciliation

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Speaker 1: route will probably UM solve most of that. I got

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Speaker 1: one more question for you. This is an orton questions.

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Speaker 1: So we're gonna blow the break, Chris Um. So you

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Speaker 1: know recently there was an article by my buddy Al

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Speaker 1: Weaver in The Hill. Representative Brendan Boyle decides against Pennsylvania

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Speaker 1: Senate bid. And I know that you were carefully, carefully

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Speaker 1: weighing a decision to run for Senate. You're obviously a

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Speaker 1: young politician, so it's not the first time you're It's

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Speaker 1: gonna be spect there's gonna be speculation about you running

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Speaker 1: for higher office. But in all honesty, I remember asking

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Speaker 1: this question several years ago to Senator Elizabeth Warren when

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Speaker 1: I interviewed her as she was weighing running for president,

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Speaker 1: And I said, too many times we in the media

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Speaker 1: we just asked a politician. Oh, it's like it's like

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Speaker 1: a it's almost like a cute question that you have

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Speaker 1: to check the box that you ask. Take us into

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Speaker 1: the window of how an actual legislator, an actual policy

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Speaker 1: wonk like yourself, makes a decision about whether or not

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Speaker 1: to run for office. Boy, that's that's a great question. Um. So,

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Speaker 1: you know, it would be too long to describe kind

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Speaker 1: of how I originally made the decision that I was

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Speaker 1: literally going to devote my life to public policy and

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Speaker 1: public service. It actually revolves around nine eleven and I

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Speaker 1: was working in management consulting in the private sector, and

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Speaker 1: that afternoon was the day I decided that I would

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Speaker 1: go back to school for public policy and move back

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Speaker 1: home to Philly. Um So, probably, like a lot of

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Speaker 1: people my age, nine eleven had had a real impact

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Speaker 1: now specifically on on the Senate. UM. It was a

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Speaker 1: tough decision because you know, an open sea for the

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Speaker 1: United States Senate does not come around UM all that often,

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Speaker 1: and obviously it was something I was very interested in.

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Speaker 1: On the other hand, I really enjoy what I'm doing now.

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Speaker 1: I'm in my fourth term. I'm on the Ways and

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Speaker 1: Means Committee, Vice Chair of Budget. I played a really

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Speaker 1: active role in the various COVID measures that passed over

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Speaker 1: the last twelve months. But when you combine that with

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Speaker 1: the fact that I have a pretty young family, UM,

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Speaker 1: spend the next year and a half either on the

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Speaker 1: road or even then when I'm home, spending my whole

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Speaker 1: time on a campaign and fundraising. UM, it was not

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Speaker 1: something I wanted to do. My daughter, seven, is in

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Speaker 1: first grade, and I'm young enough that I feel like

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Speaker 1: there will be other opportunities down the road. There definitely

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Speaker 1: will be. Congressman Brendan Boyle, it is a privilege, my

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Speaker 1: friend to interview you on this day. In particular, is

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Speaker 1: a Democrat from uh Philly, uh and from montcou Philadelphia,

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Speaker 1: City of brotherly Love. Thank you. I'll catch up with

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Speaker 1: you next week. That's Congressman Brendan Boyle. Let's reset here.

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Speaker 1: My name is Kevin Sireli. I'm the Chief Washington correspondent

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Speaker 1: for Bloomberg Television and for Bloomberg Radio. I'm accompanied by

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Speaker 1: the Bloomberg Politics Policy All Star panel team, Rick Davis

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Speaker 1: and Jennie shoon Zano. Genie. You know, it really is

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Speaker 1: fascinating to hear from an actual led a later who's

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Speaker 1: in the meetings, not trying to go viral, but actually

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Speaker 1: doing the legislative works. You get a really fascinating glimpse

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Speaker 1: into how they're actually getting the negotiations through. It is

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Speaker 1: and I you know, I know he had to run.

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Speaker 1: I wanted to ask him about some of that because,

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Speaker 1: you know, one of one of the representatives from New

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Speaker 1: York where I live is Tom Swazi, also on Ways

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Speaker 1: and Means, and I am curious, as you know, Tom

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Speaker 1: Swazzi one of the people who says no salt, you know,

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Speaker 1: no infrastructure bill. Um, I'm curious. I'm curious as of

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Speaker 1: course important to people in blue states, not everybody around

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Speaker 1: the country. But I'm to your point, it's fascinating to

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Speaker 1: hear how these negotiations, you know, unfold over something as big.

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Speaker 1: I mean, we're talking about the budget today, but of

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Speaker 1: course they've got this massive infrastructure bill to get through,

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Speaker 1: so an enormous amount of work to do in Congress.

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Speaker 1: And I thought it was also fascinating your last question

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Speaker 1: there's a number of seats that are open two and

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Speaker 1: a lot of representatives in his position, making this tough

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Speaker 1: decision to run or not. And I'm always curious about

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Speaker 1: do that. You know, he's kind of like the rocky politician.

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Speaker 1: I mean, he upset Do you remember this, He upset

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Speaker 1: the mother in law of Chelsea Clinton? Remember that. I

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Speaker 1: mean he pulled off an upset back to Clinton. A

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Speaker 1: lot of Republicans would have liked to see that happen. Yeah,

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Speaker 1: he'll be a comer in in the future. I think

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Speaker 1: that we haven't heard the last of of Congress and

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Speaker 1: Boyle and his political aspirations. He's right though, I mean,

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Speaker 1: you know, you got to take the opportunities when they

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Speaker 1: present themselves, because you never know, somebody wins his seat

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Speaker 1: and has it for the rest of their life, you know,

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Speaker 1: And so um, it's it's a very difficult decision for

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Speaker 1: these guys because you know, he's good at what he does,

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Speaker 1: right and he loves his district, and he's having a

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Speaker 1: big impact in the majority in the House. I mean,

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Speaker 1: it's hard to say, I'm gonna, you know, take a

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Speaker 1: shot at potentially not being in Congress next year if

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Speaker 1: I don't win this election. And um, and so I don't,

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Speaker 1: I don't. I don't minimize the impact that those kinds

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Speaker 1: of things have on the family and their decision making.

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Speaker 1: It's a it's a tough call. But can I ask

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Speaker 1: you a quick question, for having run so many of

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Speaker 1: these campaigns, what would you say percentage why somebody like

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Speaker 1: Boyle would have to spend raising money if he decided

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Speaker 1: to run for a Senate trillions, not as much as

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Speaker 1: what's currently in the budget and the Biden administration. Wells,

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Speaker 1: I mean, especially in Pennsylvania. Sentence a sentence seat in

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Speaker 1: in in Pennsylvania is a twenty five million dollar fundraise,

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Speaker 1: not counting pack money in super packs. So about time. No, No,

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Speaker 1: it's basically committing the next year, uh, this year uh

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Speaker 1: to being out on the rubber chicken circuit, assuming you

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Speaker 1: were still at to do circuits, uh, to raise money.

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Speaker 1: And it's even harder, you know in sort this you know,

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Speaker 1: pandemic period where you know you gotta do a lot

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Speaker 1: of this stuff virtual fundraisers. Is there's only one thing

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Speaker 1: more awkward to go into fundraise. He's going to a

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Speaker 1: zoom fundraiser. And by the way, Matt Shirley, our producer,

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Speaker 1: is very confused. He means the rubber chicken dinners. When

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Speaker 1: you go to a dinner, Matt, he's our producer. He's

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Speaker 1: looking at He's like, he's thinking of like the comedic

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Speaker 1: tool of a rubber chicken. It doesn't squeak when you

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Speaker 1: squeeze it. It doesn't squeak. It's just the thing you

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Speaker 1: put in your ballet. Glad we clear that up. Ups,

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Speaker 1: All right, let's go back to Amazon because that's also

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Speaker 1: done dominating. How's that for a pivot? Uh dominating the conversation? Today,

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Speaker 1: the National Labor Relations Board has not yet released an

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Speaker 1: official final decision on the employee lead push to unionize

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Speaker 1: the Amazon plants in Alabama, but experts told ABC News

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Speaker 1: that a vote outcome in favor of unionizing is an

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Speaker 1: uphill battle. Earlier today, White House Press Secretary Jen Saki

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Speaker 1: was asked point blank, point blank about Amazon at the briefing.

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Speaker 1: Take a listen, uh to to to the sound on

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Speaker 1: Amazon from White House Press Secretary Jensaki. The President has

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Speaker 1: said that whether to organize a union is a worker's choice,

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Speaker 1: and the National Labor Relations for It has a process

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Speaker 1: for ensuring there is an accurate acount of the votes

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Speaker 1: cast in selection, so that we can know what choice

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Speaker 1: the workers have made. Jennie, I think that we in

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Speaker 1: the media have to do a much better job of

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Speaker 1: explaining the differences and similarities within the labor movement. For example,

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Speaker 1: teachers unions are a lot different than the debate that's

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Speaker 1: being had in Alabama. Right, It's true, and you know,

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Speaker 1: I think it's one of the areas that the media

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Speaker 1: doesn't give a lot of focus to, which is the

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Speaker 1: whole area of labor. And of course unionization puts throughs

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Speaker 1: like this can be complicated. You know. One area that

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Speaker 1: you know, Rick mentioned yesterday the fact that they're doing

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Speaker 1: this in a state, in an area in which it's

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Speaker 1: it's not a huge surprise that a union may not

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Speaker 1: prevail the other you know, another side of this story

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Speaker 1: is that there is a structural advantage for employers in

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Speaker 1: this country when it comes to unionization because of the

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Speaker 1: way our labor laws have been written. And that's something

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Speaker 1: speaking of Congress, that Democrats can step in and try

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Speaker 1: to change while they're in control of Congress. I'm not

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Speaker 1: convinced they will given everything on their plate. But it's

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Speaker 1: those kind of structural disadvantages and the geography here that

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Speaker 1: help explain a loss like this UM and that's what

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Speaker 1: you have to address as you move forward. If this

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Speaker 1: is where people want to take the country. Rick Josh

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Speaker 1: Edison reports on the Bloomberg Terminal. Amazon's win is defeat

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Speaker 1: for labor movement now grown used to them. Unionizing the

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Speaker 1: company's Bessemer, Alabama warehouse became a rallying cry for worker advocates,

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Speaker 1: but that wasn't enough. Is this a trend or is

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Speaker 1: just a one off? No? I mean look, Alabama, we

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Speaker 1: talked about this, Yes, say I stuck my neck out

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Speaker 1: saying no, no way, what a union penetrate Bessemer Alabama

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Speaker 1: workforce right, and whether it's Amazon or any other Look,

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Speaker 1: I mean Alabama's the right to work state. I mean

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Speaker 1: they what that means is there are actually statutes on

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Speaker 1: the books, uh, saying that you can't require union membership

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Speaker 1: in order to be an employee. They go out of

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Speaker 1: their way to dissuade you from being UH union employee.

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Speaker 1: It's it's, it's and and and so we've seen the

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Speaker 1: decline in union membership over the last two decades pretty consistently.

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Speaker 1: And so the question is can the Biden administration, I guess,

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Speaker 1: you know, rebound the union bug and make it more popular. Well,

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Speaker 1: I wouldn't. I wouldn't have staked out my my, my

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Speaker 1: first big challenge in in a right to work state

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Speaker 1: like Alabama. So I don't think you can make any

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Speaker 1: conclusions other than Alabamas the right to work state last year,

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Speaker 1: It's gonna be one this year, and it will probably

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Speaker 1: be one next year. And just to be clear, UH,

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Speaker 1: the vote counting is still underway. Amazon had one thousand,

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Speaker 1: six hundred and eight no votes, which is a majority

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Speaker 1: of the more than thirty two hundred ballots that were cast,

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Speaker 1: and so the loss with Amazon already well ahead in

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Speaker 1: the tally, UH, the union is pledging to appeal the

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Speaker 1: results and the stored Apple bomb r w DSU president.

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Speaker 1: The union president said, quote, our system has broken. Amazon

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Speaker 1: took full advantage of that, and we will be calling

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Speaker 1: on the Labor Board to hold Amazon accountable for its

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Speaker 1: illegal and egregious behavior during the campaign, but make no

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Speaker 1: mistake about it, this still represents an important moment for

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Speaker 1: working people and their voices will and this is such

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Speaker 1: an important point speaking of what the media can do

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Speaker 1: is just what you're doing, which is to underscore how

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Speaker 1: these companies and I'm not you know, nothing against Amazon,

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Speaker 1: but how these companies have the upper hand when it

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Speaker 1: comes to punishing, threatening, retaliating against workers who try to

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Speaker 1: organize and working aggressively to campaign against these unions. Workers

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Speaker 1: are you know, really really on the losing end when

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Speaker 1: it comes to the power here, hence the need to unionize.

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Speaker 1: And the media can do a good job of showing

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Speaker 1: how this works so that there is a push potentially

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Speaker 1: to change these laws which allow this. Where where's the

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Speaker 1: next do we know? I mean, where is the next

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Speaker 1: union fight? Rick? And I'm not I'm not trying to

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Speaker 1: you know, I know it's a tough question, but are

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Speaker 1: there other potential dynamics of plays? It seems that Amazon

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Speaker 1: has really become for the far left, uh where they're

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Speaker 1: putting their focus on in terms of the union issue,

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Speaker 1: not just in Bessemer, Alabama, but elsewhere as well. Yeah,

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Speaker 1: I think that's actually the reverse. I think you look

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Speaker 1: at states like Michigan, UM where they unions around the

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Speaker 1: automobile manufacturing business have been so strong historically, but as

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Speaker 1: that industry has changed and and frankly taken a lot

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Speaker 1: of its labor force out of the state of Michigan,

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Speaker 1: not in small reason because of increased costs of union

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Speaker 1: workers um UH as to whether or not they will

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Speaker 1: not be able to attract additional UH employment opportunities where

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Speaker 1: corporations would come in or and and don't want to

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Speaker 1: be required to have a union. And so I think

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Speaker 1: that's actually going to really test the system. Can unions

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Speaker 1: keep hold of the territory that they already have as

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Speaker 1: industries change and manufacturing changes, you know where in many

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Speaker 1: of these places robotics is starting to take over this

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Speaker 1: supply chain and UH and and and the jobs that

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Speaker 1: that would have been a union job before, which were

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Speaker 1: manual labor, are now becoming more technically you know superior. Alright,

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Speaker 1: coming up, we're gonna head across the pond and talk

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Speaker 1: about the analysis of the U s UK special relationship.

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Speaker 1: Of course, is the passing a Prince Philip at Windsor Castle.

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Speaker 1: I'm Kevin Surley. This is Bloomberg. I'm Kevin Surley, chief

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Speaker 1: Washington correspondent for Bloomberg TV and for Bloomberg Radio, accompanied

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Speaker 1: by the Bloomberg Politics contributors Rick Davis and Jeanie Shanz.

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Speaker 1: They know really sad news today as Prince Philip Rick

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Speaker 1: passed away UH at Windsor Palace reading from the sun. Uh.

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Speaker 1: The Queen has expressed her quote deep sorrow end quote

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Speaker 1: after her beloved husband, the Duke of Edinburgh, passed away

430
00:24:12,560 --> 00:24:16,879
Speaker 1: peacefully at Windsor Castle. Just. I mean, the Royals have

431
00:24:16,920 --> 00:24:21,919
Speaker 1: obviously been in uh the global conversation, especially in the

432
00:24:22,000 --> 00:24:26,920
Speaker 1: culture in recent years candidly UH as a new generation

433
00:24:27,000 --> 00:24:30,600
Speaker 1: it seems, becomes familiar with them. But is today is

434
00:24:30,640 --> 00:24:33,400
Speaker 1: really an opportunity to just look and examine the special

435
00:24:33,440 --> 00:24:36,520
Speaker 1: relationship between the United States and the UK. But also

436
00:24:36,560 --> 00:24:40,280
Speaker 1: it's just honor the legacy of this current leadership of

437
00:24:40,480 --> 00:24:45,679
Speaker 1: the monarchy. Yeah. I think that it's really interesting to

438
00:24:45,800 --> 00:24:50,120
Speaker 1: look back on the trajectory of Prince Philip's life nine

439
00:24:50,440 --> 00:24:55,040
Speaker 1: nine years of of of really service is a royal

440
00:24:55,440 --> 00:24:58,199
Speaker 1: uh and UH, and what the relationship has been like

441
00:24:58,280 --> 00:25:01,600
Speaker 1: over that ninety nine years with the United States. And

442
00:25:01,640 --> 00:25:05,159
Speaker 1: it's really been transformational for the world. Right, if we

443
00:25:05,200 --> 00:25:08,800
Speaker 1: had not had uh a relationship with Great Britain before

444
00:25:08,800 --> 00:25:11,760
Speaker 1: World War Two, what would have been the outcome? Uh?

445
00:25:11,800 --> 00:25:15,720
Speaker 1: If we hadn't had the close relationship between Margaret Thatcher

446
00:25:15,760 --> 00:25:19,160
Speaker 1: and Ronald Reagan against the Soviet Union and the spread

447
00:25:19,200 --> 00:25:22,680
Speaker 1: of communism, what would have happened? Um? You know our

448
00:25:22,800 --> 00:25:25,920
Speaker 1: best ally on the War on Terror? If if we

449
00:25:25,920 --> 00:25:29,080
Speaker 1: weren't allies, what would have happened with the War on Terror?

450
00:25:29,119 --> 00:25:33,159
Speaker 1: So you look at these big, chunky, you know, geopolitical

451
00:25:33,200 --> 00:25:38,159
Speaker 1: events of our lifetime, of Prince Philip's lifetime, and you wonder, wow, Uh,

452
00:25:38,200 --> 00:25:41,879
Speaker 1: he's really overseen a relationship been a part of it

453
00:25:41,960 --> 00:25:45,639
Speaker 1: that has been the most transformational in modern history of

454
00:25:45,680 --> 00:25:49,760
Speaker 1: the world. Jennie US President Joe Biden joined world leaders

455
00:25:49,800 --> 00:25:54,720
Speaker 1: and paying tribute to Prince Philip. He was nine years old. UH.

456
00:25:54,880 --> 00:25:57,760
Speaker 1: President Biden praised his decades of public service. That Rick

457
00:25:57,880 --> 00:26:02,480
Speaker 1: was just uh eloquently scribing and sent condolences to Queen

458
00:26:02,520 --> 00:26:06,080
Speaker 1: Elizabeth the Second, he said in a statement are he

459
00:26:06,160 --> 00:26:08,960
Speaker 1: said in a joint statement with First Lady Jill Biden quote,

460
00:26:09,200 --> 00:26:12,320
Speaker 1: Prince Philip gladly dedicated himself to the people of the UK,

461
00:26:12,520 --> 00:26:15,560
Speaker 1: the Commonwealth and to his family. His legacy will live

462
00:26:15,720 --> 00:26:18,560
Speaker 1: on not only through his family, but in all the

463
00:26:18,680 --> 00:26:22,840
Speaker 1: charitable endeavors that he shaped. Other leaders who paid tribute

464
00:26:22,880 --> 00:26:28,439
Speaker 1: included German Chancellor Angela Merkel and EU President Ursula vonder

465
00:26:28,520 --> 00:26:31,880
Speaker 1: Land and French President Emmanuel Macrone said that the Duke

466
00:26:31,960 --> 00:26:37,160
Speaker 1: lived quote an exemplary life defined by bravery. Wow. And

467
00:26:37,200 --> 00:26:39,480
Speaker 1: one of the things I think we forget about Prince

468
00:26:39,520 --> 00:26:43,639
Speaker 1: Philip was his dedication to a cause that really many

469
00:26:43,680 --> 00:26:46,680
Speaker 1: people didn't embrace, at least in our country until maybe

470
00:26:46,680 --> 00:26:50,280
Speaker 1: the nineteen sixties nineteen seventies, and that's the environment. He

471
00:26:50,440 --> 00:26:53,040
Speaker 1: was somebody who came out very very early, and we

472
00:26:53,080 --> 00:26:55,879
Speaker 1: see this in his son as well as you know,

473
00:26:56,000 --> 00:27:00,800
Speaker 1: a really strong environmentalist. He warned about green house gasses

474
00:27:00,840 --> 00:27:03,800
Speaker 1: and other things. And on a you know, a personal

475
00:27:03,840 --> 00:27:06,440
Speaker 1: note about his personal life. I did not realize until

476
00:27:06,480 --> 00:27:10,040
Speaker 1: I read his obituary in one of the newspapers that

477
00:27:10,440 --> 00:27:12,959
Speaker 1: he and the Queen met when they were thirteen or

478
00:27:13,000 --> 00:27:17,159
Speaker 1: fourteen years old. And you know what a love story

479
00:27:17,320 --> 00:27:20,280
Speaker 1: that is. Um. You know, there's been, you know, some

480
00:27:20,400 --> 00:27:23,920
Speaker 1: great political love stories that we talked about. Ronald Reagan

481
00:27:24,040 --> 00:27:26,760
Speaker 1: of course, and and Nancy Reagan. But you know, from

482
00:27:26,800 --> 00:27:30,560
Speaker 1: the age of thirteen or fourteen to nine nine, um,

483
00:27:30,680 --> 00:27:33,320
Speaker 1: what a relationship they have had. And of course the

484
00:27:33,400 --> 00:27:36,639
Speaker 1: work he has done both publicly and privately, um, you know.

485
00:27:36,720 --> 00:27:39,600
Speaker 1: And and of course transitioning now with his children and

486
00:27:39,600 --> 00:27:42,280
Speaker 1: his grandchildren to a time he probably couldn't have imagined

487
00:27:42,320 --> 00:27:47,679
Speaker 1: when he was born. Rick, this comes at a time

488
00:27:48,080 --> 00:27:51,320
Speaker 1: of as Thomas Penny on the Bloomberg Terminal, I really

489
00:27:51,359 --> 00:27:55,879
Speaker 1: think Penny's article captures captures the sentiment of what's in

490
00:27:55,920 --> 00:27:59,119
Speaker 1: the zeitgeist, to quote Tom Keane right now for for

491
00:27:59,160 --> 00:28:03,119
Speaker 1: the monarchy, phil ups death, Penny reports quote comes at

492
00:28:03,160 --> 00:28:08,240
Speaker 1: a moment of profound change for the royal family. He

493
00:28:08,320 --> 00:28:10,320
Speaker 1: goes on to allude to to some of the other

494
00:28:10,960 --> 00:28:15,000
Speaker 1: uh items that are in the conversation about the monarchy.

495
00:28:15,119 --> 00:28:17,440
Speaker 1: I don't want to link the troubles of the monarchy

496
00:28:17,480 --> 00:28:20,040
Speaker 1: to to Prince Philip, but I do want to talk

497
00:28:20,080 --> 00:28:23,800
Speaker 1: about this crossroads for the monarchy as it looks at

498
00:28:23,800 --> 00:28:28,040
Speaker 1: the decade ahead. Where where is the monarchy ten years

499
00:28:28,040 --> 00:28:30,480
Speaker 1: from now? And what role did they play in geopolitics?

500
00:28:32,280 --> 00:28:35,680
Speaker 1: You know, it's hard to say. Um, there's a school

501
00:28:35,760 --> 00:28:39,760
Speaker 1: that says, hey, they're the greatest chamber of commerce ever

502
00:28:39,800 --> 00:28:42,160
Speaker 1: created by man. Right. I mean, like, you know, the

503
00:28:42,200 --> 00:28:45,479
Speaker 1: reason people come to go to visit the UK in

504
00:28:45,520 --> 00:28:49,320
Speaker 1: London is not up for the fantastic food there. I

505
00:28:49,320 --> 00:28:52,480
Speaker 1: mean it's British, right, never really fish and chips. To

506
00:28:52,560 --> 00:28:55,840
Speaker 1: me candidly, you know, I'd rather I just don't get it,

507
00:28:55,880 --> 00:28:58,120
Speaker 1: but go ahead. Yeah. The first thing somebody asked you

508
00:28:58,160 --> 00:28:59,720
Speaker 1: to say, oh I was did you go by the

509
00:28:59,720 --> 00:29:01,640
Speaker 1: path Us did you see the Queen? Right? I mean

510
00:29:01,720 --> 00:29:08,920
Speaker 1: like and yeah you have that too, Penny Lane, those places.

511
00:29:09,400 --> 00:29:13,520
Speaker 1: But but I would say this queen really is the

512
00:29:13,640 --> 00:29:17,120
Speaker 1: transformational queen. You think about when she took over for

513
00:29:17,280 --> 00:29:22,200
Speaker 1: the her father, the king, and what a different monarchy

514
00:29:22,280 --> 00:29:25,320
Speaker 1: that was where they actually still had some level of

515
00:29:25,360 --> 00:29:30,480
Speaker 1: constitutional power, and and and she oversaw the more modern

516
00:29:30,800 --> 00:29:35,040
Speaker 1: monarchy and and and and the future is the younger generation.

517
00:29:35,120 --> 00:29:38,000
Speaker 1: And so you know, this is something that I think

518
00:29:38,360 --> 00:29:42,240
Speaker 1: is will be fascinating to watch in real time. Our

519
00:29:42,240 --> 00:29:44,920
Speaker 1: hearts go out to the royal family, all of them, uh,

520
00:29:45,160 --> 00:29:48,479
Speaker 1: every generation over the loss of Prince Philip. But it

521
00:29:48,520 --> 00:29:52,920
Speaker 1: does make us stop and think about their contribution, which is,

522
00:29:53,200 --> 00:29:57,320
Speaker 1: you know, been very favorable for the United Kingdom and

523
00:29:57,480 --> 00:30:00,680
Speaker 1: many of the other UH countries that have aociate with

524
00:30:00,920 --> 00:30:04,320
Speaker 1: the British um Um monarchy. Genie, I'll give you the

525
00:30:04,360 --> 00:30:06,760
Speaker 1: last word on this. Well, I think we're in a

526
00:30:06,840 --> 00:30:11,360
Speaker 1: real test to see can a monarchy survive in this

527
00:30:11,440 --> 00:30:15,440
Speaker 1: sort of you know, twenty one century speaking of the media,

528
00:30:15,560 --> 00:30:18,560
Speaker 1: in this media environment. That was something that Philip, Prince

529
00:30:18,560 --> 00:30:21,880
Speaker 1: Philip had a lot of difficulty with, understandably so as

530
00:30:21,920 --> 00:30:23,959
Speaker 1: does the rest of the family. And you know they

531
00:30:24,000 --> 00:30:25,560
Speaker 1: are going to have to work hard to make the

532
00:30:25,600 --> 00:30:29,200
Speaker 1: case that as as Rick said that the monarchy is

533
00:30:29,280 --> 00:30:32,680
Speaker 1: good for for Britain. UM Unable to make that case,

534
00:30:32,680 --> 00:30:37,000
Speaker 1: it's hard to see why they keep investing in it. Fascinating, fascinating.

535
00:30:37,120 --> 00:30:39,280
Speaker 1: The only thing my family on the serely text chain

536
00:30:39,360 --> 00:30:43,520
Speaker 1: today was blowing up over all of the dynamics of

537
00:30:43,560 --> 00:30:46,440
Speaker 1: the monarchy. They have definitely captured the interest of the

538
00:30:46,440 --> 00:30:49,440
Speaker 1: world these past few weeks. I'm Kevin surreally much more

539
00:30:49,480 --> 00:30:53,920
Speaker 1: with the All Star Policy panel coming up. This is Bloomberg.

540
00:31:05,920 --> 00:31:08,520
Speaker 1: My name is Kevin Curreli. I'm the chief Washington correspondent

541
00:31:08,560 --> 00:31:12,080
Speaker 1: for Bloomberg Television and for Bloomberg Radio. Shout out to

542
00:31:12,280 --> 00:31:15,960
Speaker 1: the legendary team, our executive producer Christine Barata and our

543
00:31:16,040 --> 00:31:20,120
Speaker 1: producer Matthew Shirley. Uh. I want to welcome to the

544
00:31:20,160 --> 00:31:27,720
Speaker 1: all Star policy panel Bloomberg Politics contributors Genie, Sean Dave, Genie, Genie,

545
00:31:27,760 --> 00:31:30,400
Speaker 1: I'm tongue tied, Genie Shan Zan know as well as

546
00:31:30,520 --> 00:31:32,840
Speaker 1: Rick Davis. And We're gonna go old school for a

547
00:31:32,880 --> 00:31:35,600
Speaker 1: minute and uh and end this with what is on

548
00:31:35,640 --> 00:31:37,600
Speaker 1: your radar? I want you to tell me one thing

549
00:31:37,640 --> 00:31:41,680
Speaker 1: that is coming up, Genie, that is on your radar. Well,

550
00:31:41,760 --> 00:31:44,680
Speaker 1: I am fascinated and um, you know, Rick and I

551
00:31:44,760 --> 00:31:48,880
Speaker 1: are not married, so I see that it happened to

552
00:31:52,720 --> 00:31:59,760
Speaker 1: I'm I'm again tongue tied. I don't know what to say. Yeah, Rick,

553
00:31:59,840 --> 00:32:01,959
Speaker 1: and you have to admit I have been called your

554
00:32:02,040 --> 00:32:08,360
Speaker 1: last name many times, right An, Oh my gosh, yes,

555
00:32:08,520 --> 00:32:11,520
Speaker 1: let me explain. It's just you know, um, so back

556
00:32:11,560 --> 00:32:15,880
Speaker 1: to seriousness. Um, I am fascinated by, um, the calls

557
00:32:16,040 --> 00:32:19,840
Speaker 1: that have been coming for the retirement of the Supreme

558
00:32:19,880 --> 00:32:23,960
Speaker 1: Court justice and this is something that is you know,

559
00:32:24,080 --> 00:32:26,600
Speaker 1: something I watch I teach a lot of Supreme Court

560
00:32:27,040 --> 00:32:30,760
Speaker 1: and the fact that we have seen a concerted push

561
00:32:30,840 --> 00:32:34,360
Speaker 1: now not just to pack the court, but for a

562
00:32:34,520 --> 00:32:39,120
Speaker 1: retirement on the court amongst democrats. UM, this is something

563
00:32:39,160 --> 00:32:42,160
Speaker 1: that as we all remember, there was a push during

564
00:32:42,320 --> 00:32:46,400
Speaker 1: the Obama administration for Ruth Bader Ginsburg to retire. She

565
00:32:46,480 --> 00:32:50,800
Speaker 1: obviously did not, and that of course became something that um,

566
00:32:50,880 --> 00:32:54,160
Speaker 1: you know, democrats UM have you know, talked a lot

567
00:32:54,200 --> 00:32:57,920
Speaker 1: about in the aftermath, and having seemingly decided that they're

568
00:32:57,960 --> 00:32:59,880
Speaker 1: not going to let this happen, they have been pushing

569
00:33:00,320 --> 00:33:03,880
Speaker 1: Stephen Bryer to resign. So it I'm curious and going

570
00:33:03,920 --> 00:33:06,240
Speaker 1: to be watching how that pans out. And of course

571
00:33:06,280 --> 00:33:10,560
Speaker 1: the President's new commission on potentially packing the court or

572
00:33:10,640 --> 00:33:13,120
Speaker 1: at least investigating it. And we have sound on that

573
00:33:13,200 --> 00:33:16,200
Speaker 1: from White House Press Secretary Jen Saki. She was asked

574
00:33:16,200 --> 00:33:19,440
Speaker 1: about President Biden's taving a panel to look at whether

575
00:33:19,600 --> 00:33:22,240
Speaker 1: there should be more seats on the U. S. Supreme Court.

576
00:33:22,440 --> 00:33:25,280
Speaker 1: Saki denied that there are any immediate plans to add

577
00:33:25,320 --> 00:33:28,000
Speaker 1: more justices. Take a listen to the sound on scotists.

578
00:33:28,640 --> 00:33:30,960
Speaker 1: The panels being asked to do a number of take

579
00:33:30,960 --> 00:33:33,400
Speaker 1: a number of steps, including the pros and cons on

580
00:33:33,480 --> 00:33:36,760
Speaker 1: exactly that issue. But they will also be looking at

581
00:33:37,040 --> 00:33:40,120
Speaker 1: the Court's role in the constitutional system, the length of

582
00:33:40,160 --> 00:33:42,840
Speaker 1: service and turnover of justice on the Court, justices on

583
00:33:42,880 --> 00:33:46,720
Speaker 1: the court, the membership and size of the Court. Reck

584
00:33:46,760 --> 00:33:48,680
Speaker 1: I mean, I don't think that he's going to ever

585
00:33:48,760 --> 00:33:52,800
Speaker 1: be able to add Supreme Court justices in his term.

586
00:33:52,880 --> 00:33:55,760
Speaker 1: Uh yeah, I I would doubt it. I mean, you know,

587
00:33:55,800 --> 00:34:00,480
Speaker 1: with these slim majorities in the Senate um it I think,

588
00:34:00,520 --> 00:34:04,360
Speaker 1: I think it just functionally becomes a problem. I would say,

589
00:34:04,440 --> 00:34:06,120
Speaker 1: I think this is just a nod to the left

590
00:34:06,120 --> 00:34:08,200
Speaker 1: to keep them happy about the idea that they can

591
00:34:08,239 --> 00:34:13,320
Speaker 1: somehow overturned the number of Supreme Court justices that Donald

592
00:34:13,320 --> 00:34:17,440
Speaker 1: Trump put on the the Supreme Court and potentially have

593
00:34:17,560 --> 00:34:21,000
Speaker 1: some impact later on on the federal court system. But

594
00:34:21,320 --> 00:34:23,160
Speaker 1: I agree with you, I think that this is a

595
00:34:23,680 --> 00:34:25,600
Speaker 1: this is a long shot, But I think it's just

596
00:34:25,680 --> 00:34:28,560
Speaker 1: a political nod to the to the rattle of the

597
00:34:28,560 --> 00:34:30,920
Speaker 1: sabers on the left. And I also I was just

598
00:34:31,000 --> 00:34:33,320
Speaker 1: also going to add it's also what it was in

599
00:34:33,320 --> 00:34:35,759
Speaker 1: in FDR's time when he made this threat. It's a

600
00:34:35,760 --> 00:34:39,280
Speaker 1: warning to the court. Stephen Brier is right, you lose

601
00:34:39,360 --> 00:34:42,799
Speaker 1: legitimacy potentially if you do this. But what happened when

602
00:34:42,840 --> 00:34:45,040
Speaker 1: FDR did it, there was no packing of the court,

603
00:34:45,320 --> 00:34:47,680
Speaker 1: but there was the switch in time. And this is

604
00:34:47,719 --> 00:34:50,440
Speaker 1: a warning to the federal bench, in my view, that

605
00:34:50,480 --> 00:34:53,440
Speaker 1: they better be very careful to be above politics. And

606
00:34:53,480 --> 00:34:56,640
Speaker 1: so I think that's what we're seeing here as well. Yeah, No,

607
00:34:56,719 --> 00:34:59,680
Speaker 1: I think it's it's fascinating the Supreme Court has has

608
00:34:59,680 --> 00:35:02,600
Speaker 1: define only become one of those lightning rod issues for

609
00:35:02,800 --> 00:35:06,520
Speaker 1: progressives and and it's it's really an incredible debate. That's

610
00:35:06,560 --> 00:35:09,120
Speaker 1: a robust debate that's being had, and no doubt we'll

611
00:35:09,160 --> 00:35:11,400
Speaker 1: be discussed in any type of primary season for the

612
00:35:11,400 --> 00:35:16,080
Speaker 1: next cycle and beyond. I think Senator Joe Mansion's column, though,

613
00:35:16,120 --> 00:35:19,360
Speaker 1: in which you call it for bipartisanship, is really where

614
00:35:19,360 --> 00:35:21,080
Speaker 1: he is at on this and and so it'll be

615
00:35:21,160 --> 00:35:24,800
Speaker 1: fascinating to see where all of that is headed. Rick Davis,

616
00:35:25,000 --> 00:35:27,680
Speaker 1: what is on your radar? You know? I, as a

617
00:35:27,719 --> 00:35:30,840
Speaker 1: defense hawk, I have to say that the president you know,

618
00:35:30,920 --> 00:35:35,879
Speaker 1: presented this huge budget UH today UH at one point

619
00:35:35,960 --> 00:35:40,880
Speaker 1: nine trillion dollars of UH domestic and UH spending and

620
00:35:40,880 --> 00:35:44,360
Speaker 1: and in a flat UH defense budget. So at a

621
00:35:44,440 --> 00:35:49,680
Speaker 1: time when we are all looking at UH this competition

622
00:35:49,840 --> 00:35:53,640
Speaker 1: with China, and Russia. We've talked on this pro program

623
00:35:53,640 --> 00:35:58,479
Speaker 1: repeatedly about issues related to our defense posture in uh

624
00:35:58,560 --> 00:36:04,359
Speaker 1: in in regards those two what they call near peer adversaries. Um,

625
00:36:04,400 --> 00:36:07,680
Speaker 1: it's shocking to me that that that we're going about

626
00:36:07,719 --> 00:36:10,799
Speaker 1: this by basically signaling to Russia into China that we're

627
00:36:10,800 --> 00:36:13,600
Speaker 1: not gonna we're not gonna increase our investment defense spending

628
00:36:13,600 --> 00:36:17,440
Speaker 1: and in a sixtent increase in domestic spending, but basically

629
00:36:17,440 --> 00:36:21,200
Speaker 1: a flat uh do o D budget. I'm I'm watching

630
00:36:21,239 --> 00:36:24,040
Speaker 1: the storyline on that because I think it's going to

631
00:36:24,160 --> 00:36:29,560
Speaker 1: hand Republicans a foreign policy tool that they didn't otherwise have. Well, Rick,

632
00:36:29,640 --> 00:36:31,359
Speaker 1: let me ask you that I mean to follow up

633
00:36:31,400 --> 00:36:33,920
Speaker 1: on that. Is that a political trap for the Democrats

634
00:36:33,960 --> 00:36:36,560
Speaker 1: heading in some midterms where on one hand they want

635
00:36:36,560 --> 00:36:39,520
Speaker 1: to have they want to cut funding for defense, but

636
00:36:39,560 --> 00:36:42,160
Speaker 1: they want to you know, increase it for initiatives that

637
00:36:42,200 --> 00:36:44,960
Speaker 1: are more controversial to be candid domestically or I want

638
00:36:44,960 --> 00:36:48,640
Speaker 1: to say controversial or more political domestically. Yeah, I think

639
00:36:48,680 --> 00:36:50,600
Speaker 1: this is We talked a little bit about this earlier

640
00:36:50,600 --> 00:36:53,680
Speaker 1: in the show, where the Congressman Boyle was talking about

641
00:36:53,680 --> 00:36:56,680
Speaker 1: how popular these spending programs are when you present them

642
00:36:56,680 --> 00:36:58,879
Speaker 1: to voters. And that's true, you know, I mean when

643
00:36:58,880 --> 00:37:01,520
Speaker 1: you take free month, I mean we're gonna we're gonna

644
00:37:01,560 --> 00:37:03,880
Speaker 1: fund all sorts of different things in your life. Uh,

645
00:37:04,239 --> 00:37:08,960
Speaker 1: it's attractive. But when the administration takes a position that says, hey,

646
00:37:09,080 --> 00:37:11,560
Speaker 1: you know, we're in a competition with these these countries

647
00:37:11,600 --> 00:37:13,960
Speaker 1: like China, and we have to do everything we can

648
00:37:14,040 --> 00:37:18,760
Speaker 1: to ensure that they don't uh mess up our supply chain,

649
00:37:19,160 --> 00:37:23,319
Speaker 1: um uh threaten our neighbors and otherwise make the world

650
00:37:23,360 --> 00:37:25,480
Speaker 1: an unsafe place. But we're not going to invest in

651
00:37:25,520 --> 00:37:27,759
Speaker 1: that at all. I think that's a political issue at

652
00:37:27,760 --> 00:37:30,160
Speaker 1: the end of the day. I think it's more importantly

653
00:37:30,320 --> 00:37:33,480
Speaker 1: a public policy issue that doesn't square with their rhetoric,

654
00:37:33,560 --> 00:37:35,000
Speaker 1: and I think that's going to be an issue on

655
00:37:35,080 --> 00:37:38,320
Speaker 1: Capitol Hill. But Rick, do you think that this sets

656
00:37:38,360 --> 00:37:40,399
Speaker 1: up what I think has been coming for a long time,

657
00:37:40,400 --> 00:37:43,440
Speaker 1: which is a debate on how best to combat China.

658
00:37:43,800 --> 00:37:46,600
Speaker 1: You know, Republicans have long said that it is investment

659
00:37:46,680 --> 00:37:50,160
Speaker 1: in defense, as you've been talking about. What Democrats are

660
00:37:50,200 --> 00:37:53,640
Speaker 1: saying is, you know, we need to also invest, as

661
00:37:53,680 --> 00:37:57,239
Speaker 1: you know, in infrastructure. You know, China is prepared, you

662
00:37:57,239 --> 00:37:59,440
Speaker 1: know a much better prepared as we go forward in

663
00:37:59,520 --> 00:38:02,000
Speaker 1: terms of ISU. Was like broadband and how can we

664
00:38:02,000 --> 00:38:04,319
Speaker 1: we just can't compete with defense but also have to

665
00:38:04,320 --> 00:38:06,200
Speaker 1: do it in these other ways. Well, that's that's what

666
00:38:06,239 --> 00:38:08,080
Speaker 1: brings me to what's on my radar, which is Eric

667
00:38:08,120 --> 00:38:12,120
Speaker 1: Martin's reporting on the Bloomberg terminal. US blacklists seven Chinese

668
00:38:12,200 --> 00:38:16,840
Speaker 1: supercomputing firms firms involved UH in information and technology. The

669
00:38:16,880 --> 00:38:21,120
Speaker 1: Commerce Department says that the entities are related to military efforts.

670
00:38:21,160 --> 00:38:23,640
Speaker 1: This is again just a thread that the three of

671
00:38:23,680 --> 00:38:26,680
Speaker 1: US have been chronicling for the past several months. A

672
00:38:26,719 --> 00:38:31,359
Speaker 1: continuation of American policy, not of a partisan policy, continuation

673
00:38:31,400 --> 00:38:34,160
Speaker 1: of the previous administration, and a continuation for this one.

674
00:38:34,239 --> 00:38:37,719
Speaker 1: The US added seven Chinese supercomputing firms to a list

675
00:38:37,719 --> 00:38:42,040
Speaker 1: of entities banned from receiving exports from American companies citing

676
00:38:42,080 --> 00:38:46,680
Speaker 1: activities contrary to the national security or foreign policy interests

677
00:38:46,680 --> 00:38:49,080
Speaker 1: of the US. The companies were added to the so

678
00:38:49,160 --> 00:38:52,600
Speaker 1: called entity list that of course prohibits American firms from

679
00:38:52,640 --> 00:38:57,640
Speaker 1: doing business with them without first obtaining a US government license.

680
00:38:57,960 --> 00:39:01,839
Speaker 1: Secretary of Commerce Gina Ramundo having jurisdiction over that, so

681
00:39:01,920 --> 00:39:05,960
Speaker 1: that right there again. We talked about this yesterday with

682
00:39:06,000 --> 00:39:09,680
Speaker 1: the National Intelligence Council report. A continuation of of a

683
00:39:09,760 --> 00:39:15,200
Speaker 1: non partis an issue for American policy. Alright, folks, I

684
00:39:15,239 --> 00:39:19,799
Speaker 1: have a programming note, Rick and Genie, uh, sound on?

685
00:39:19,960 --> 00:39:24,040
Speaker 1: Is yours? I really appreciate everything. Today is my last

686
00:39:24,120 --> 00:39:27,319
Speaker 1: day at Bloomberg after nearly six years. I want to

687
00:39:27,360 --> 00:39:30,160
Speaker 1: thank everyone who has listened and watched and supported me

688
00:39:30,840 --> 00:39:33,000
Speaker 1: on this journey. It really was a journey over these

689
00:39:33,040 --> 00:39:35,520
Speaker 1: past six years. And I especially want to thank every

690
00:39:35,560 --> 00:39:40,239
Speaker 1: single one of my colleagues for this incredible, incredible experience.

691
00:39:40,520 --> 00:39:42,640
Speaker 1: It's time for me to try something new with a

692
00:39:42,680 --> 00:39:45,200
Speaker 1: new project and a new role soon and more to come.

693
00:39:45,680 --> 00:39:47,719
Speaker 1: But I really Rick and Genie, I want to thank

694
00:39:47,760 --> 00:39:51,960
Speaker 1: each of you. Genie first for for just really supporting

695
00:39:52,000 --> 00:39:54,880
Speaker 1: me on this endeavor. It has been something that I

696
00:39:54,880 --> 00:39:59,279
Speaker 1: am incredibly, incredibly grateful for. Casey. I just can't imagine

697
00:39:59,360 --> 00:40:02,400
Speaker 1: not having you on the show. Um, And thank you

698
00:40:02,440 --> 00:40:04,920
Speaker 1: so much for you've been so welcoming and supportive to me,

699
00:40:05,200 --> 00:40:07,719
Speaker 1: and and and of course I'm so excited to see

700
00:40:07,719 --> 00:40:10,680
Speaker 1: about your next project, UM and what you're doing. And

701
00:40:10,719 --> 00:40:13,920
Speaker 1: when I am in d C, you're still there. We

702
00:40:14,000 --> 00:40:15,880
Speaker 1: are going to go out for a coke or something

703
00:40:15,960 --> 00:40:19,600
Speaker 1: wherever I am. We will we will meet up. Rick.

704
00:40:19,640 --> 00:40:22,000
Speaker 1: I really want to thank you as well for everything.

705
00:40:22,000 --> 00:40:24,120
Speaker 1: I told the team before, I said, I'm not Tom Sawyer.

706
00:40:24,239 --> 00:40:26,680
Speaker 1: I feel like I'm Tom Sawyer watching my funeral. But

707
00:40:26,719 --> 00:40:28,960
Speaker 1: it's not that serious. But I do want to say

708
00:40:28,960 --> 00:40:31,160
Speaker 1: thank you Rick for everything as well. Well. Kevin, I

709
00:40:31,200 --> 00:40:33,839
Speaker 1: can't say how much I've enjoyed working with you. It's

710
00:40:33,880 --> 00:40:37,280
Speaker 1: been an interesting path, like I will remember this period

711
00:40:37,280 --> 00:40:40,920
Speaker 1: of time during the elections and uh and in this

712
00:40:41,120 --> 00:40:44,040
Speaker 1: COVID period UH for the rest of our lives. And

713
00:40:44,040 --> 00:40:45,719
Speaker 1: and You've played an important part of it. I've learned

714
00:40:45,719 --> 00:40:49,000
Speaker 1: a lot from you, your consummate professional, and I know

715
00:40:49,120 --> 00:40:51,000
Speaker 1: you'll just knock it out of the park with whatever

716
00:40:51,080 --> 00:40:53,719
Speaker 1: endeavor you you continue to do well. I appreciate that.

717
00:40:53,800 --> 00:40:56,280
Speaker 1: And you guys make it fun and uh, just have fun.

718
00:40:56,480 --> 00:40:59,360
Speaker 1: That's the best advice I ever got was to just

719
00:40:59,840 --> 00:41:02,240
Speaker 1: be allow yourself to have some fun. But I don't

720
00:41:02,280 --> 00:41:04,600
Speaker 1: really all right enough of that. We still have a minute.

721
00:41:04,640 --> 00:41:07,120
Speaker 1: We finished. We finished early. See, I was so nervous.

722
00:41:07,160 --> 00:41:09,319
Speaker 1: I told Christie Robata, I said, I really hate being

723
00:41:09,360 --> 00:41:11,200
Speaker 1: the story. I don't want to do this. Heaven, we

724
00:41:11,200 --> 00:41:15,080
Speaker 1: should have said nicer things that took longer. I guess,

725
00:41:15,360 --> 00:41:19,960
Speaker 1: I guess it's hard to fill dead air. G D.

726
00:41:20,560 --> 00:41:23,200
Speaker 1: I'll give you the last word, Casey, I am going

727
00:41:23,239 --> 00:41:25,399
Speaker 1: to miss you so much. And as Rick said, you

728
00:41:25,440 --> 00:41:28,400
Speaker 1: have been the voice of the radio TV at Bloomberg

729
00:41:28,440 --> 00:41:31,800
Speaker 1: Politics for so long and reported on so many things,

730
00:41:31,840 --> 00:41:35,200
Speaker 1: and you know, imagining it without your voice every day

731
00:41:35,280 --> 00:41:38,400
Speaker 1: is just hard for me to sort of everyone's replaceable.

732
00:41:38,400 --> 00:41:40,600
Speaker 1: And Levin, can I ask you a question? I mean,

733
00:41:40,640 --> 00:41:43,520
Speaker 1: it's so exciting. What's the one moment that you remember

734
00:41:43,560 --> 00:41:48,080
Speaker 1: most about your tenure. I got to take my mom

735
00:41:48,080 --> 00:41:52,600
Speaker 1: to the White House. Oh. That that's a very special memory.

736
00:41:52,600 --> 00:41:54,879
Speaker 1: And it's a blessing to have that memory. So thank

737
00:41:54,920 --> 00:41:57,200
Speaker 1: you to everyone for supporting me, and thank you to

738
00:41:57,239 --> 00:41:59,960
Speaker 1: my parents as well. I'm Kevin Sally. This is Bloomberg

739
00:42:09,760 --> 00:42:14,839
Speaker 1: broadcasting live from our nation's capital, Bloomberg to New York,

740
00:42:14,960 --> 00:42:20,280
Speaker 1: Bloomberg eleven Frio to San Francisco, Bloomberg to the country

741
00:42:20,480 --> 00:42:24,840
Speaker 1: Sirius XM Channel one, and around the globe, the Bloomberg

742
00:42:24,880 --> 00:42:29,480
Speaker 1: Business app and Bloomberg Radio dot Com. This is Bloomberg

743
00:42:29,640 --> 00:42:31,400
Speaker 1: Sound on with Kevin Cirelli