1
00:00:00,880 --> 00:00:04,360
Speaker 1: You're listening to the Bloomberg Sound on podcast. Catch us

2
00:00:04,400 --> 00:00:05,520
Speaker 1: live weekdays at.

3
00:00:05,440 --> 00:00:08,719
Speaker 2: One Eastern on Bloomberg dot com, the iHeartRadio app and

4
00:00:08,760 --> 00:00:11,720
Speaker 2: the Bloomberg Business app, or listening on demand wherever you

5
00:00:11,800 --> 00:00:12,800
Speaker 2: get your podcasts.

6
00:00:13,480 --> 00:00:16,480
Speaker 3: As we make our way through the day here on

7
00:00:16,520 --> 00:00:19,319
Speaker 3: Bloomberg and through this hour with myself and Kaylee, because

8
00:00:19,320 --> 00:00:21,200
Speaker 3: we've got news here Kaylee. In just a couple of hours,

9
00:00:21,200 --> 00:00:23,200
Speaker 3: there's going to be a vote on the House floor

10
00:00:24,160 --> 00:00:27,000
Speaker 3: for a continuing resolution that appears to be the path

11
00:00:27,040 --> 00:00:29,040
Speaker 3: to avoiding a government shutdown at the end of this week.

12
00:00:29,040 --> 00:00:31,960
Speaker 3: They're whipping votes now, but everything we're hearing would suggest

13
00:00:32,040 --> 00:00:33,320
Speaker 3: that this is actually going.

14
00:00:33,159 --> 00:00:35,560
Speaker 4: To pass something that needs to pass with two hundred

15
00:00:35,560 --> 00:00:38,199
Speaker 4: and ninety votes since they aren't doing things through the

16
00:00:38,320 --> 00:00:40,680
Speaker 4: usual rules process that is suspended, so you need a

17
00:00:40,680 --> 00:00:43,199
Speaker 4: two thirds majority, and that means, Joe that it's going

18
00:00:43,280 --> 00:00:45,400
Speaker 4: to take Democrats. Remember when we were here at the

19
00:00:45,479 --> 00:00:47,600
Speaker 4: end of September and what McCarthy ended up having to

20
00:00:47,600 --> 00:00:51,400
Speaker 4: do was pass a clean continuing resolution with Democratic.

21
00:00:51,000 --> 00:00:53,480
Speaker 5: Support and he lost the gavel as a result. Well,

22
00:00:54,040 --> 00:00:56,240
Speaker 5: let's go round too and see if Mike Johnson can

23
00:00:56,560 --> 00:00:57,040
Speaker 5: hang in there.

24
00:00:57,080 --> 00:00:57,400
Speaker 4: Longer.

25
00:00:57,640 --> 00:00:59,600
Speaker 3: Yeah, he seems to be getting the past this time,

26
00:00:59,600 --> 00:01:02,480
Speaker 3: although looks like he's short about fifty Republican votes. To

27
00:01:02,560 --> 00:01:05,600
Speaker 3: your point, that just might not matter when Democrats show up.

28
00:01:05,600 --> 00:01:09,000
Speaker 3: But let's talk to him right now. Congresswoman Gwen Moore,

29
00:01:09,600 --> 00:01:13,200
Speaker 3: Democrat from Wisconsin, is with us right now live from

30
00:01:13,240 --> 00:01:15,560
Speaker 3: Capitol Hill, and Congressoman, it's good to see you. Appreciate

31
00:01:15,920 --> 00:01:17,759
Speaker 3: your coming along here. Are you about to get Mike

32
00:01:17,840 --> 00:01:18,640
Speaker 3: Johnson fired?

33
00:01:22,080 --> 00:01:24,360
Speaker 6: Well, you know, I didn't vote for him for speaker,

34
00:01:25,440 --> 00:01:27,959
Speaker 6: so it'll be really interesting to see if he lasts

35
00:01:28,360 --> 00:01:31,080
Speaker 6: longer than this vote.

36
00:01:31,160 --> 00:01:33,600
Speaker 3: Well, yeah, that's another way of me asking you if

37
00:01:33,760 --> 00:01:36,039
Speaker 3: you will vote yes on this continuing Resolution.

38
00:01:37,480 --> 00:01:41,200
Speaker 6: Well, you know, I'm still working through it. I don't

39
00:01:41,240 --> 00:01:45,280
Speaker 6: want to see the government shut down. I do think

40
00:01:45,319 --> 00:01:49,400
Speaker 6: there's deeply flawed in areas that are of grave concern

41
00:01:49,520 --> 00:01:54,640
Speaker 6: to me, like Women, Infants and Children program, the whig program,

42
00:01:54,960 --> 00:01:59,360
Speaker 6: which in Wisconsin we've seen a really big uptake in

43
00:01:59,400 --> 00:02:02,760
Speaker 6: the use of that, and we're going to be about

44
00:02:02,760 --> 00:02:06,800
Speaker 6: a billion dollars short. And of course we aren't meeting

45
00:02:06,880 --> 00:02:11,000
Speaker 6: any of our emergency funding needs for all of the

46
00:02:11,040 --> 00:02:16,040
Speaker 6: war and conflict that's going on. But I don't want

47
00:02:16,040 --> 00:02:19,880
Speaker 6: the government to shut down, and it's very likely that I'm.

48
00:02:19,720 --> 00:02:21,959
Speaker 7: Going to vote for this continuing resolution.

49
00:02:23,720 --> 00:02:27,040
Speaker 4: So Congressoman, you just mentioned some of the emergency funding needs,

50
00:02:27,040 --> 00:02:30,480
Speaker 4: be it Israel or Ukraine. Are Democrats losing leverage here

51
00:02:30,560 --> 00:02:33,600
Speaker 4: if they vote for the CR to get those things passed?

52
00:02:33,680 --> 00:02:39,280
Speaker 6: Ultimately, Well, this CR doesn't have that funding in it.

53
00:02:39,760 --> 00:02:45,320
Speaker 6: And exactly, and of course we passed the resolution earlier,

54
00:02:46,680 --> 00:02:49,480
Speaker 6: which I of course didn't vote for, which was a

55
00:02:49,800 --> 00:02:54,680
Speaker 6: fourteen billion dollar package for Israel only, but only with

56
00:02:54,800 --> 00:02:59,440
Speaker 6: a gun to our heads to take away the funding

57
00:02:59,480 --> 00:03:03,600
Speaker 6: for the Eye, to take billions away from the IRS,

58
00:03:04,760 --> 00:03:10,280
Speaker 6: thus crippling our ability to catch text sheets, and so

59
00:03:10,760 --> 00:03:12,600
Speaker 6: that funding isn't going anywhere.

60
00:03:12,639 --> 00:03:14,560
Speaker 7: So we're hopeful that.

61
00:03:16,120 --> 00:03:21,680
Speaker 6: Separately the Senate or you know, will send us a package,

62
00:03:21,800 --> 00:03:25,680
Speaker 6: but not only funding for these wars Ukraine and Israel,

63
00:03:25,800 --> 00:03:32,000
Speaker 6: but humanitarian aid to the people in Gaza desperately needed.

64
00:03:33,760 --> 00:03:36,000
Speaker 1: They're about sixty thousand people. Were told.

65
00:03:36,000 --> 00:03:38,560
Speaker 3: I don't know if there's an account from the National

66
00:03:38,600 --> 00:03:41,640
Speaker 3: Park Service. In front of the Capitol, on the west

67
00:03:41,680 --> 00:03:43,960
Speaker 3: front of the Capitol, I've got caught in the traffic

68
00:03:44,120 --> 00:03:47,720
Speaker 3: coming in this morning. Congresswoman, because so many streets are closed.

69
00:03:47,720 --> 00:03:50,520
Speaker 3: It's a pro Israel rally. I can only imagine that

70
00:03:50,560 --> 00:03:53,280
Speaker 3: there are some counter protesters out there as well, But

71
00:03:53,400 --> 00:03:53,880
Speaker 3: you're a leader.

72
00:03:53,920 --> 00:03:54,280
Speaker 1: Hakem.

73
00:03:54,360 --> 00:03:56,320
Speaker 3: Jeffries and the Speaker of the House are among the

74
00:03:56,360 --> 00:04:00,880
Speaker 3: many dignitaries who are speaking to this impassion crowd today.

75
00:04:00,880 --> 00:04:02,720
Speaker 3: Do you think that moves the ball at all on

76
00:04:02,760 --> 00:04:06,560
Speaker 3: the request for funding, Well, there.

77
00:04:06,440 --> 00:04:10,920
Speaker 6: Is a willingness I think among Democrats and Republicans to

78
00:04:10,960 --> 00:04:18,960
Speaker 6: support Israel, and of course people do respect the First Amendment.

79
00:04:19,600 --> 00:04:22,960
Speaker 6: I think it's extremely important that we invite people and

80
00:04:23,040 --> 00:04:29,160
Speaker 6: welcome people to the capital to voice their concerns of

81
00:04:29,200 --> 00:04:33,000
Speaker 6: all kinds, and so unlike January sixth, I expect that

82
00:04:33,080 --> 00:04:38,280
Speaker 6: this is a rally which will be basically positive, which

83
00:04:38,360 --> 00:04:45,160
Speaker 6: will affirm Israel's right to exist, and even the counter protesters,

84
00:04:46,160 --> 00:04:50,840
Speaker 6: if there are any, I think, are going to be respectful.

85
00:04:51,000 --> 00:04:51,680
Speaker 7: Of this right.

86
00:04:52,400 --> 00:04:56,240
Speaker 6: I don't know if that'll help or hurt, because, like

87
00:04:56,279 --> 00:04:59,360
Speaker 6: I said, I think the votes are here to provide

88
00:04:59,400 --> 00:05:02,520
Speaker 6: funding to Israel, but I do think that many of

89
00:05:02,600 --> 00:05:08,960
Speaker 6: us want to see it coupled with efforts to provide

90
00:05:09,040 --> 00:05:14,559
Speaker 6: humanitarian assistance to Gaza as well as providing funding for

91
00:05:14,839 --> 00:05:15,800
Speaker 6: the Ukraine War.

92
00:05:17,400 --> 00:05:20,680
Speaker 4: Well, and clearly, Congresswoman, just the very fact that there

93
00:05:20,680 --> 00:05:24,360
Speaker 4: are tens of thousands of individuals they're representing on the

94
00:05:24,480 --> 00:05:27,000
Speaker 4: mall today speaks to the intensity of the moment and

95
00:05:27,000 --> 00:05:29,880
Speaker 4: the passion that is still very much front and center

96
00:05:29,920 --> 00:05:32,359
Speaker 4: when it comes to this conflict in particular. I just

97
00:05:32,400 --> 00:05:34,880
Speaker 4: wonder though, if that's still going to remain, if the

98
00:05:34,880 --> 00:05:37,560
Speaker 4: same impotence will be there as time goes on. What

99
00:05:37,600 --> 00:05:40,680
Speaker 4: do you think realistically is the timeline we're looking at

100
00:05:40,880 --> 00:05:43,200
Speaker 4: for passage of funding for Israel.

101
00:05:45,920 --> 00:05:49,360
Speaker 6: Well, what I'll tell you is that there's a lot

102
00:05:49,560 --> 00:05:56,280
Speaker 6: of concern about tapping this war down on many sides.

103
00:05:56,360 --> 00:06:01,599
Speaker 6: Even folks who support Israel and its right to defend

104
00:06:01,640 --> 00:06:06,560
Speaker 6: itself or very concerned about making sure that our ally

105
00:06:06,760 --> 00:06:13,680
Speaker 6: Israel really grounds itself and it struggled and is mindful

106
00:06:14,000 --> 00:06:20,799
Speaker 6: of the humanitarian concerns and the Geneva conventions that revolve

107
00:06:20,880 --> 00:06:23,800
Speaker 6: around how to conduct a war. You know, I am

108
00:06:23,839 --> 00:06:29,840
Speaker 6: not kidding. It is very, very complicated on the war activity.

109
00:06:31,400 --> 00:06:37,000
Speaker 6: You know, I sympathize with Israeli's mission to stop Hamas,

110
00:06:37,720 --> 00:06:41,440
Speaker 6: but they have to be ever mindful of the cost,

111
00:06:42,360 --> 00:06:44,719
Speaker 6: because you can win the war and lose the peace,

112
00:06:45,279 --> 00:06:48,279
Speaker 6: and we do want to eventually what's going to happen

113
00:06:48,320 --> 00:06:50,200
Speaker 6: the day after this war?

114
00:06:50,680 --> 00:06:54,280
Speaker 7: And God willing the fighting will stop soon.

115
00:06:56,440 --> 00:06:59,520
Speaker 3: How about the story in Ukraine, Congresswoman. That seems to

116
00:06:59,560 --> 00:07:02,640
Speaker 3: be a much heavier lift right now on Capitol Hill,

117
00:07:02,720 --> 00:07:05,760
Speaker 3: largely because of Republican opposition to continued funding or at

118
00:07:05,800 --> 00:07:09,920
Speaker 3: least funding without quote unquote accountability, which hasn't really been

119
00:07:09,960 --> 00:07:13,080
Speaker 3: defined by a lot of the members who.

120
00:07:12,920 --> 00:07:14,520
Speaker 1: Are talking about it.

121
00:07:14,520 --> 00:07:17,600
Speaker 3: It's starting to look like once the cr passes that

122
00:07:17,600 --> 00:07:19,720
Speaker 3: that might be the last train to leave the station.

123
00:07:19,920 --> 00:07:21,880
Speaker 3: Will all of this have to wait until next year?

124
00:07:24,600 --> 00:07:27,640
Speaker 7: Well, you know, again there hasn't been.

125
00:07:30,760 --> 00:07:34,320
Speaker 6: There there There hasn't been a funding initiative for Israel.

126
00:07:34,600 --> 00:07:36,320
Speaker 6: And so I think we have another kick at the

127
00:07:36,360 --> 00:07:39,880
Speaker 6: cat with this, with the with the not only the

128
00:07:39,920 --> 00:07:43,880
Speaker 6: Democrats of the Senate, but with Mitch McConnell as well

129
00:07:43,920 --> 00:07:48,360
Speaker 6: and Republicans to send us something over. We're going to

130
00:07:48,440 --> 00:07:51,600
Speaker 6: be here, you know until at least.

131
00:07:51,440 --> 00:07:54,040
Speaker 7: The middle of December, December fifteenth.

132
00:07:54,120 --> 00:07:58,840
Speaker 6: I would I would, I would think, so another vehicle

133
00:07:58,920 --> 00:08:03,600
Speaker 6: can move or this supplemental funding. What we have heard

134
00:08:03,920 --> 00:08:06,480
Speaker 6: from our speaker is that they wanted to stop the

135
00:08:06,520 --> 00:08:10,360
Speaker 6: government from shutting down and didn't want to obscure that

136
00:08:10,520 --> 00:08:15,760
Speaker 6: mission with the funding for the wars. So I'm taking

137
00:08:15,800 --> 00:08:19,880
Speaker 6: him at his word that the lane would still be

138
00:08:19,960 --> 00:08:23,640
Speaker 6: open for that funding and it's never too late to

139
00:08:23,680 --> 00:08:25,640
Speaker 6: get money.

140
00:08:26,680 --> 00:08:28,760
Speaker 4: Well, it sounds like what you're saying, Congresswoman, is really

141
00:08:28,800 --> 00:08:31,080
Speaker 4: this is something that we'll have to originate in the Senate.

142
00:08:31,120 --> 00:08:33,600
Speaker 4: Given the House has passed more than fourteen billion dollars

143
00:08:33,640 --> 00:08:36,560
Speaker 4: of Israel funding, but it rescinded money from the IRS,

144
00:08:36,640 --> 00:08:39,319
Speaker 4: therefore making it dead on arrival in the Senate. When

145
00:08:39,360 --> 00:08:41,840
Speaker 4: we think about all of these things, whether supplemental or

146
00:08:41,880 --> 00:08:44,400
Speaker 4: just simple appropriation bills in terms of funding that are

147
00:08:44,440 --> 00:08:47,000
Speaker 4: going to have to be reconciled between the Senate and

148
00:08:47,040 --> 00:08:50,520
Speaker 4: the House. Assuming that this Continuing Resolution passes, gets signed,

149
00:08:50,559 --> 00:08:53,520
Speaker 4: the government doesn't shut down this weekend, how likely is

150
00:08:53,559 --> 00:08:56,120
Speaker 4: it in your mind that it either shuts down partially

151
00:08:56,520 --> 00:08:59,480
Speaker 4: on January nineteenth or February second, as you try to

152
00:08:59,520 --> 00:09:00,400
Speaker 4: reconcile these.

153
00:09:00,280 --> 00:09:04,520
Speaker 6: Things, well, i'll tell you, you know, it all depends

154
00:09:04,559 --> 00:09:07,640
Speaker 6: on whether or not the Freedom Cockus goes after Mike

155
00:09:07,760 --> 00:09:12,400
Speaker 6: Johnson and deposes him for working with Democrats.

156
00:09:12,480 --> 00:09:14,920
Speaker 7: Continuing Resolution is definitely not go back.

157
00:09:16,520 --> 00:09:22,719
Speaker 6: Just this structure requires a super majority, so clearly Democrats

158
00:09:22,760 --> 00:09:26,079
Speaker 6: would have to vote for this continuing resolution. And if

159
00:09:26,120 --> 00:09:30,520
Speaker 6: that's the red line for some of the Conservatives that

160
00:09:30,640 --> 00:09:34,559
Speaker 6: brought McCarthy down, then then that would be another wrinkle.

161
00:09:35,640 --> 00:09:39,600
Speaker 6: It's for the life of me, it is hard to

162
00:09:39,679 --> 00:09:43,040
Speaker 6: see why they we would want to go through another

163
00:09:43,120 --> 00:09:46,959
Speaker 6: I mean, we're going to be anxious for two more months.

164
00:09:47,440 --> 00:09:51,800
Speaker 6: It's going to be hard to stomach our Thanksgiving dinner

165
00:09:52,360 --> 00:09:55,600
Speaker 6: and our Christmas dinner knowing that we've got to go

166
00:09:55,679 --> 00:10:02,040
Speaker 6: through this again. And and you know, once they passed

167
00:10:02,440 --> 00:10:10,600
Speaker 6: the twelve all twelve appropriations bills December, you know, eighteenth say,

168
00:10:11,720 --> 00:10:15,200
Speaker 6: and you know, and and funding is going to run out,

169
00:10:15,920 --> 00:10:16,400
Speaker 6: and they.

170
00:10:16,280 --> 00:10:17,280
Speaker 7: Want us to vote on.

171
00:10:17,280 --> 00:10:21,040
Speaker 6: Some of the crazy cuts that they're probably going to

172
00:10:21,080 --> 00:10:23,560
Speaker 6: be proposing in our appropriations bills.

173
00:10:23,559 --> 00:10:24,760
Speaker 7: It'll be another showdown.

174
00:10:25,520 --> 00:10:32,840
Speaker 6: So, you know, I think stopping a government shut down,

175
00:10:33,240 --> 00:10:39,360
Speaker 6: you know, by Friday, is admirable, but we're just setting

176
00:10:39,400 --> 00:10:44,360
Speaker 6: ourselves up for a shutdown in January. If in fact

177
00:10:44,800 --> 00:10:49,400
Speaker 6: they continue down the path of not observing the deal,

178
00:10:50,800 --> 00:10:55,840
Speaker 6: that then Speaker McCarthy made with the President, which you know,

179
00:10:56,360 --> 00:10:59,680
Speaker 6: we you know, we gave up a billion a trillion

180
00:10:59,760 --> 00:11:01,400
Speaker 6: dollar in that deal.

181
00:11:01,440 --> 00:11:04,640
Speaker 7: That was not a frivolous deal.

182
00:11:06,320 --> 00:11:09,480
Speaker 6: And were we to have stuck with that deal, I

183
00:11:09,520 --> 00:11:11,160
Speaker 6: think we'd be in a much better place.

184
00:11:11,160 --> 00:11:13,040
Speaker 7: We shouldn't be here today.

185
00:11:13,120 --> 00:11:15,199
Speaker 6: So it's hard for me to check what's going to

186
00:11:15,240 --> 00:11:19,520
Speaker 6: happen on January nineteenth, but I do know that today

187
00:11:19,640 --> 00:11:21,760
Speaker 6: will be nothing more than a stop gap.

188
00:11:23,320 --> 00:11:27,319
Speaker 3: I'm guessing Kevin McCarthy would agree with you on that deal. Congresswoman,

189
00:11:28,040 --> 00:11:30,840
Speaker 3: have you heard from Hakim Jeffreys. Is the Democratic leadership

190
00:11:30,880 --> 00:11:33,199
Speaker 3: behind this cr or is he kind of telling you

191
00:11:33,280 --> 00:11:34,240
Speaker 3: to vote your conscience?

192
00:11:34,280 --> 00:11:36,080
Speaker 1: What's the word from upstairs.

193
00:11:36,200 --> 00:11:39,920
Speaker 6: Yeah, he's not whipping on this at all. So we're

194
00:11:39,960 --> 00:11:44,120
Speaker 6: free to vote, you know how we will. It's not

195
00:11:44,240 --> 00:11:47,160
Speaker 6: the deal that we created. It's not the deal that

196
00:11:47,240 --> 00:11:51,480
Speaker 6: Hakim Jeffries put together. They didn't put it together with

197
00:11:51,520 --> 00:11:53,120
Speaker 6: our help and our support.

198
00:11:53,480 --> 00:11:56,520
Speaker 7: So I think that he is leaving it up up

199
00:11:56,559 --> 00:11:56,920
Speaker 7: to us.

200
00:11:56,920 --> 00:11:59,960
Speaker 6: And like I said, I've been with my legislative director

201
00:12:00,200 --> 00:12:03,760
Speaker 6: all afternoon working through UH some of the things that

202
00:12:03,800 --> 00:12:08,240
Speaker 6: I find very disappointing. UH. And I mentioned, you know

203
00:12:08,640 --> 00:12:16,280
Speaker 6: in particular the Wick funding women, infants in children. Uh

204
00:12:16,320 --> 00:12:20,400
Speaker 6: and uh, you know, to me, that's very, very critical.

205
00:12:20,480 --> 00:12:23,640
Speaker 6: So I may vote for the CR today, but I'll

206
00:12:23,640 --> 00:12:27,640
Speaker 6: be I'll be watching and they'll need my vote.

207
00:12:27,480 --> 00:12:30,240
Speaker 7: Or want my vote in the future. So they need to.

208
00:12:30,160 --> 00:12:33,520
Speaker 6: Be mindful of the things that are important to people.

209
00:12:33,679 --> 00:12:38,880
Speaker 3: Hanry Quaar says that he's opposing this bill because of

210
00:12:39,240 --> 00:12:40,280
Speaker 3: the Wick funding.

211
00:12:40,360 --> 00:12:41,880
Speaker 1: Kaylee, he might not be the only one.

212
00:12:41,920 --> 00:12:45,200
Speaker 5: It sounds like, yeah, and again to the math here.

213
00:12:46,920 --> 00:12:49,560
Speaker 6: Well, I'll tell you know, I'm I'm in a state

214
00:12:49,840 --> 00:12:55,320
Speaker 6: it's governed by a democratic governor. So uh, the provisions,

215
00:12:55,440 --> 00:12:58,559
Speaker 6: we may be able to negotiate our way through it.

216
00:12:58,920 --> 00:13:01,120
Speaker 6: I think some of the children that are going to

217
00:13:01,160 --> 00:13:05,920
Speaker 6: suffer the most come from those red states where there's

218
00:13:05,960 --> 00:13:12,319
Speaker 6: a general opposition to accepting this support, you know, providing

219
00:13:12,400 --> 00:13:16,079
Speaker 6: the maintenance of effort whatever. But I can see Henry

220
00:13:16,120 --> 00:13:18,560
Speaker 6: Quay are not wanting to vote for it. You know,

221
00:13:18,600 --> 00:13:21,320
Speaker 6: there's a lot of children in his district, a lot

222
00:13:21,360 --> 00:13:24,600
Speaker 6: of needy children, and he's in a state you know

223
00:13:24,960 --> 00:13:31,960
Speaker 6: where you know, you know people you know eschew government support.

224
00:13:34,080 --> 00:13:36,920
Speaker 4: Well, Congresswoman, as we think about those who are needy

225
00:13:36,960 --> 00:13:39,240
Speaker 4: and those who may be struggling with higher prices that

226
00:13:39,240 --> 00:13:42,280
Speaker 4: they are facing because of inflation. Obviously, we got some

227
00:13:42,400 --> 00:13:45,120
Speaker 4: better news on the inflation front today in that consumer

228
00:13:45,160 --> 00:13:48,559
Speaker 4: prices did not rise as much as expected. Things are

229
00:13:48,640 --> 00:13:52,040
Speaker 4: slowing down, and yet what we consistently see is that

230
00:13:52,040 --> 00:13:54,720
Speaker 4: people still don't feel good about the economy. It's reflected

231
00:13:54,760 --> 00:13:57,000
Speaker 4: and polls not just in terms of their overall sentiment,

232
00:13:57,080 --> 00:14:00,400
Speaker 4: but in their feelings about who's in charge here, crowds

233
00:14:00,400 --> 00:14:02,800
Speaker 4: in control of the White House. What do you think

234
00:14:02,840 --> 00:14:05,840
Speaker 4: your party needs to change in terms of messaging what's

235
00:14:05,880 --> 00:14:06,520
Speaker 4: missing here?

236
00:14:08,720 --> 00:14:11,280
Speaker 6: Well, I tell you it's it's uh we we we

237
00:14:11,440 --> 00:14:14,560
Speaker 6: we do need for some of these things to take

238
00:14:14,600 --> 00:14:15,719
Speaker 6: hold in the economy.

239
00:14:15,840 --> 00:14:17,840
Speaker 7: I think it's a really good sign.

240
00:14:17,880 --> 00:14:20,280
Speaker 6: I don't think Jerome Powell and the Fed are going

241
00:14:20,360 --> 00:14:25,720
Speaker 6: to raise interest rates uh anymore, uh anytime soon, So

242
00:14:26,200 --> 00:14:31,160
Speaker 6: people will start to feel the impact of that and

243
00:14:31,520 --> 00:14:34,840
Speaker 6: some of the investments that we have made, uh take

244
00:14:34,920 --> 00:14:39,040
Speaker 6: time to seek into the economy. And so I do

245
00:14:39,120 --> 00:14:44,120
Speaker 6: think that we're a year away from this election. We

246
00:14:44,200 --> 00:14:49,200
Speaker 6: have made a tremendous investment uh in job creation, and

247
00:14:49,280 --> 00:14:51,360
Speaker 6: I think that you know, we all saw.

248
00:14:51,200 --> 00:14:53,960
Speaker 7: The streets and roads torn up this summer.

249
00:14:54,680 --> 00:14:59,160
Speaker 6: Uh, and that that's that in addition to Jerome Poull

250
00:14:59,280 --> 00:15:05,200
Speaker 6: not raising interest rates and credit becoming more available to people,

251
00:15:05,560 --> 00:15:09,040
Speaker 6: I think people are going to start to feel the impact.

252
00:15:09,640 --> 00:15:12,640
Speaker 6: There's a lot of effort to train people up to

253
00:15:12,680 --> 00:15:15,920
Speaker 6: get them involved in brand new economy. And I do

254
00:15:16,000 --> 00:15:18,720
Speaker 6: think that it's not a matter of messaging. It's a

255
00:15:18,760 --> 00:15:23,200
Speaker 6: matter of being like the Missouri to show me state.

256
00:15:23,240 --> 00:15:26,600
Speaker 6: I think we need to show people how they're benefiting.

257
00:15:28,040 --> 00:15:32,120
Speaker 3: Spending time with Congresswoman Gwen Moore, the Democrat from Wisconsin,

258
00:15:32,200 --> 00:15:34,800
Speaker 3: serves on the Ways and Means Committee, and I'd like

259
00:15:34,840 --> 00:15:36,720
Speaker 3: to ask you lastly, if I dare in our minute

260
00:15:36,720 --> 00:15:40,640
Speaker 3: and a half year congresswoman, about something called revenues. We

261
00:15:40,760 --> 00:15:43,600
Speaker 3: talk a lot about cuts around here, and there's a

262
00:15:43,640 --> 00:15:46,960
Speaker 3: lot of talk about balancing the budget and lowering the deficit.

263
00:15:47,040 --> 00:15:50,360
Speaker 3: At what point is your committee going to start raising

264
00:15:50,400 --> 00:15:52,240
Speaker 3: revenues to start closing the gap?

265
00:15:54,120 --> 00:15:57,120
Speaker 6: Well, you know, from your lips to God's ears, I mean,

266
00:15:57,160 --> 00:16:01,440
Speaker 6: we have tried by providing the monies to the I

267
00:16:01,680 --> 00:16:04,800
Speaker 6: R S. One of the things that we discovered under

268
00:16:04,880 --> 00:16:09,800
Speaker 6: our jurisdiction is that someone like Donald Trump's taxes for example,

269
00:16:10,360 --> 00:16:13,960
Speaker 6: the IRS just didn't have the personnel to be able

270
00:16:13,960 --> 00:16:17,800
Speaker 6: to go through a complex of.

271
00:16:19,120 --> 00:16:21,600
Speaker 7: Tax return such as Donald Trump's.

272
00:16:21,640 --> 00:16:28,160
Speaker 6: And there are many individuals who avoid taxes because they

273
00:16:28,280 --> 00:16:34,800
Speaker 6: half complicated, you know, taxings. Some of these deductions are

274
00:16:35,000 --> 00:16:37,960
Speaker 6: are ones to which they're entitled and others are just

275
00:16:38,280 --> 00:16:41,480
Speaker 6: plain old a tax evasion.

276
00:16:42,200 --> 00:16:43,680
Speaker 3: And you know, I'm going to get a bunch of

277
00:16:43,680 --> 00:16:45,800
Speaker 3: hate mail for asking you that question, just for.

278
00:16:45,800 --> 00:16:46,680
Speaker 1: Framing the question.

279
00:16:46,800 --> 00:16:49,320
Speaker 3: Congresswoman, we're not allowed to talk about it, but I

280
00:16:49,360 --> 00:16:51,640
Speaker 3: do feel like at some point we're going to need

281
00:16:51,680 --> 00:16:53,880
Speaker 3: to go there. I wish we had more time. Congress Woman,

282
00:16:53,960 --> 00:16:55,800
Speaker 3: thank you for being with us. Let us know how

283
00:16:55,800 --> 00:16:59,360
Speaker 3: you vote. Congresswoman Gwen Moore with us live from Capitol Hill.

284
00:16:59,360 --> 00:17:02,400
Speaker 3: I'm Joe Matthew with Kaylee Liones. This is sound On

285
00:17:02,680 --> 00:17:05,160
Speaker 3: Live from Washington only on Bloomberg.

286
00:17:07,359 --> 00:17:10,000
Speaker 2: You're listening to the Bloomberg Sound On podcast.

287
00:17:10,400 --> 00:17:12,919
Speaker 1: Catch us live weekdays at one Eastern.

288
00:17:12,640 --> 00:17:15,840
Speaker 2: On Bloomberg dot com, the iHeartRadio app, and the Bloomberg

289
00:17:15,920 --> 00:17:20,680
Speaker 2: Business App, or listen on demand wherever you get your podcast.

290
00:17:21,080 --> 00:17:26,080
Speaker 3: Fascinating Conversation earlier with Citadel's Ken Griffin, an exclusive interview

291
00:17:26,080 --> 00:17:31,120
Speaker 3: you heard with Bloomberg's Shanali Bossik Kaylee. It took the

292
00:17:31,160 --> 00:17:33,359
Speaker 3: better part of an hour and we were glued to

293
00:17:33,400 --> 00:17:36,240
Speaker 3: it as we tend to be when he's speaking, and

294
00:17:36,320 --> 00:17:39,240
Speaker 3: got to a lot of territory here as you would expect.

295
00:17:39,320 --> 00:17:41,560
Speaker 3: We talked about the economy, interest rates, and then veered

296
00:17:41,560 --> 00:17:45,560
Speaker 3: into politics and geopolitics as the President prepares to meet

297
00:17:45,560 --> 00:17:47,560
Speaker 3: with President Sheet tomorrow. We've got a lot to your

298
00:17:47,640 --> 00:17:49,640
Speaker 3: balancing on both sides of the Atlantic.

299
00:17:49,760 --> 00:17:50,000
Speaker 7: Yeah.

300
00:17:50,000 --> 00:17:50,560
Speaker 5: Absolutely.

301
00:17:50,600 --> 00:17:52,760
Speaker 4: Of course, we heard from the President himself before his

302
00:17:52,840 --> 00:17:55,800
Speaker 4: departure to San Francisco where that meeting will take place tomorrow,

303
00:17:55,880 --> 00:17:58,560
Speaker 4: and which President Biden said that he does not want

304
00:17:58,600 --> 00:18:03,359
Speaker 4: to decouple from China. He's just seeking a normalization in relations. Specifically,

305
00:18:03,359 --> 00:18:06,160
Speaker 4: he's looking at military to military communications.

306
00:18:06,200 --> 00:18:07,480
Speaker 5: That's a very high priority.

307
00:18:07,720 --> 00:18:10,119
Speaker 4: And maybe that's something that Ken Griffin would have would

308
00:18:10,440 --> 00:18:12,280
Speaker 4: like to hear the President say, is we're not looking

309
00:18:12,280 --> 00:18:14,879
Speaker 4: to decouple, because his warning today Joe was that that

310
00:18:14,880 --> 00:18:16,640
Speaker 4: would have really serious consequences.

311
00:18:16,720 --> 00:18:19,200
Speaker 1: Well, we're not decoupling, right, were we be? We were

312
00:18:19,640 --> 00:18:20,480
Speaker 1: risking be risking.

313
00:18:20,760 --> 00:18:22,719
Speaker 3: The last thing that we heard, here's what Ken Griffin

314
00:18:22,720 --> 00:18:24,359
Speaker 3: said earlier today on Bloomberg.

315
00:18:24,560 --> 00:18:28,720
Speaker 8: So it's really important that we try to find common

316
00:18:28,760 --> 00:18:34,120
Speaker 8: ground to build a better relationship with China on rather

317
00:18:34,280 --> 00:18:38,359
Speaker 8: continuing this downward spiral of tit for tat on trade

318
00:18:38,400 --> 00:18:40,159
Speaker 8: policies and otherwise.

319
00:18:41,640 --> 00:18:44,879
Speaker 3: A downward spy spiral on tit for tat trade policies,

320
00:18:45,720 --> 00:18:48,520
Speaker 3: which you know, we talk a lot about the intervention

321
00:18:48,600 --> 00:18:51,320
Speaker 3: that the administration has has tried to add with high

322
00:18:51,359 --> 00:18:53,840
Speaker 3: tech chips trying to keep out of China. You could

323
00:18:53,840 --> 00:18:55,720
Speaker 3: look to a lot of different areas, yeah, for that,

324
00:18:55,760 --> 00:18:59,359
Speaker 3: And of course China is not the only economic partner.

325
00:18:59,400 --> 00:19:01,280
Speaker 1: If I can use the word that we're dealing.

326
00:19:01,040 --> 00:19:02,840
Speaker 5: With this, then yeah, it's a big one.

327
00:19:02,840 --> 00:19:06,720
Speaker 4: And Ken Griffith pointed this out that the US, he says,

328
00:19:07,440 --> 00:19:11,000
Speaker 4: imports circa five hundred billion dollars of goods from China

329
00:19:11,119 --> 00:19:14,399
Speaker 4: a year. That these economies are just really closely tied together.

330
00:19:14,480 --> 00:19:18,479
Speaker 4: But whether or not it is diversifying or de risking,

331
00:19:18,520 --> 00:19:20,920
Speaker 4: whatever it is, though, the fact remains Joe that given

332
00:19:20,960 --> 00:19:23,119
Speaker 4: a lot of the tension in this relationship, the US

333
00:19:23,280 --> 00:19:26,159
Speaker 4: is turning to other partners as well, trying to do

334
00:19:26,200 --> 00:19:29,600
Speaker 4: this friend shoring thing. We also sometimes hear about trying

335
00:19:29,600 --> 00:19:32,600
Speaker 4: to protect national security interests, and what that means is

336
00:19:32,600 --> 00:19:34,840
Speaker 4: that a lot of this is looking at supply chains

337
00:19:35,240 --> 00:19:40,600
Speaker 4: elsewhere and just firming up relations with countries that aren't well.

338
00:19:40,640 --> 00:19:44,439
Speaker 3: That's absolutely right, which brings us to our conversation with

339
00:19:44,640 --> 00:19:48,240
Speaker 3: the Special Envoy. The former Congressman Joe Kennedy is with

340
00:19:48,400 --> 00:19:50,200
Speaker 3: us now live on Bloomberg.

341
00:19:50,280 --> 00:19:50,760
Speaker 1: You might not.

342
00:19:51,040 --> 00:19:53,720
Speaker 3: Realize he is as well, the US Special Envoy in

343
00:19:53,760 --> 00:19:57,439
Speaker 3: Northern Ireland for Economic Affairs, and Congressman, it's great to

344
00:19:57,440 --> 00:19:57,760
Speaker 3: see you.

345
00:19:57,800 --> 00:19:58,919
Speaker 1: Thank you for joining us.

346
00:19:58,960 --> 00:20:01,040
Speaker 3: We've really been looking forward to talking with you about this,

347
00:20:01,119 --> 00:20:03,399
Speaker 3: and I know that you're recently back from a trip

348
00:20:03,400 --> 00:20:06,480
Speaker 3: to Northern Ireland. You led a delegation with a couple

349
00:20:06,600 --> 00:20:10,440
Speaker 3: dozen executives on that trip. Joe Biden when he made

350
00:20:10,440 --> 00:20:12,399
Speaker 3: his trip to Northern Ireland earlier this year, and I

351
00:20:12,400 --> 00:20:14,040
Speaker 3: think it was back in April, which I find hard

352
00:20:14,080 --> 00:20:17,200
Speaker 3: to believe now, marking the anniversary of the Good Friday Agreements,

353
00:20:17,200 --> 00:20:20,920
Speaker 3: talked about the impact of diplomacy here, sustained diplomacy. I

354
00:20:20,960 --> 00:20:24,240
Speaker 3: wonder what the economic answer is to that diplomacy.

355
00:20:25,960 --> 00:20:28,040
Speaker 9: So, Joe and Cayley, first off, just thanks for having me,

356
00:20:28,080 --> 00:20:32,320
Speaker 9: Thanks for your interest, and I appreciate the opportunity. Being

357
00:20:32,359 --> 00:20:36,159
Speaker 9: with President Biden in Belfast now back in April was

358
00:20:36,600 --> 00:20:39,840
Speaker 9: an extraordinary moment because it was an opportunity to celebrate

359
00:20:40,280 --> 00:20:43,760
Speaker 9: not just the people of Northern Ireland, but what partnerships

360
00:20:43,800 --> 00:20:47,000
Speaker 9: can in fact do and how they can help transform communities.

361
00:20:47,040 --> 00:20:49,760
Speaker 9: Northern Ireland has come a very long way and a

362
00:20:49,880 --> 00:20:52,479
Speaker 9: very short period of time when you look at that

363
00:20:52,560 --> 00:20:55,040
Speaker 9: trajectory over the course of the last twenty five years

364
00:20:55,080 --> 00:20:58,359
Speaker 9: and even longer candidly, and the opportunities that are there

365
00:20:58,600 --> 00:21:01,240
Speaker 9: before them at the moment are quite extraordinary. And the

366
00:21:01,280 --> 00:21:03,760
Speaker 9: opportunities that the United States and the two hundred and

367
00:21:03,760 --> 00:21:07,080
Speaker 9: thirty businesses that are doing already American business that are

368
00:21:07,119 --> 00:21:10,119
Speaker 9: doing business there, the impact that they have had across

369
00:21:10,359 --> 00:21:13,879
Speaker 9: their society is quite stunning. And so all of this

370
00:21:14,000 --> 00:21:16,520
Speaker 9: I think builds in a unique moment and unique opportunities

371
00:21:16,520 --> 00:21:19,560
Speaker 9: that Northern Ireland has at this moment to work alongside

372
00:21:19,600 --> 00:21:21,440
Speaker 9: the United States and some of our strategic interests.

373
00:21:22,760 --> 00:21:25,000
Speaker 4: When do you think US businesses are actually going to

374
00:21:25,040 --> 00:21:26,840
Speaker 4: more firmly seize that opportunity?

375
00:21:26,880 --> 00:21:27,120
Speaker 5: Though?

376
00:21:27,240 --> 00:21:29,879
Speaker 4: Where did the real investment dollars show up in a

377
00:21:29,880 --> 00:21:32,600
Speaker 4: more material way?

378
00:21:32,720 --> 00:21:35,560
Speaker 9: Oh? I mean Kaylie. When we were over there just

379
00:21:35,720 --> 00:21:38,960
Speaker 9: two weeks ago or so, the Controller for the State

380
00:21:39,000 --> 00:21:42,439
Speaker 9: of New York announced fifty million dollars in investment further investment.

381
00:21:42,480 --> 00:21:45,680
Speaker 9: He'd already put in over sixty million dollars into Northern

382
00:21:45,720 --> 00:21:48,040
Speaker 9: Ireland over the course of the past several years, so

383
00:21:48,040 --> 00:21:51,800
Speaker 9: he doubled down put in announced fifty million more. Coca

384
00:21:51,800 --> 00:21:55,040
Speaker 9: Cola announced a twenty million dollar expansion for a bottling

385
00:21:55,480 --> 00:21:58,080
Speaker 9: line in Northern Ireland, which has been one of their

386
00:21:58,119 --> 00:22:02,240
Speaker 9: key facilities, employing a couple dozen more people. But look,

387
00:22:02,280 --> 00:22:04,439
Speaker 9: I think one of the biggest challenges candidly that Northern

388
00:22:04,440 --> 00:22:09,360
Speaker 9: Ireland faces isn't from some of the investment opportunity. It's

389
00:22:09,359 --> 00:22:13,520
Speaker 9: actually from the perception that a number of American Americans

390
00:22:13,560 --> 00:22:16,719
Speaker 9: have about when you say Belfaster, you say Northern Ireland,

391
00:22:17,040 --> 00:22:20,560
Speaker 9: what comes to mind. And one of the big objectives

392
00:22:20,560 --> 00:22:22,680
Speaker 9: what President Biden asked me to do was to say, hey,

393
00:22:22,960 --> 00:22:26,440
Speaker 9: take some of these business leaders, walk them through downtown Belfast,

394
00:22:26,680 --> 00:22:28,760
Speaker 9: walk them through the safest city of its size in

395
00:22:28,760 --> 00:22:31,439
Speaker 9: the entire United Kingdom. Welcome through the happiest part of

396
00:22:31,440 --> 00:22:33,680
Speaker 9: the United Kingdom. Welcome through the communities where if you

397
00:22:33,680 --> 00:22:35,680
Speaker 9: have a college degree. The unplumb rate is essentially zero.

398
00:22:35,760 --> 00:22:38,879
Speaker 9: Where City Group has nearly four thousand employees, PwC has

399
00:22:38,920 --> 00:22:42,800
Speaker 9: nearly four thousand employees. Let them see the enormous gains

400
00:22:42,800 --> 00:22:44,840
Speaker 9: that have been made here, hard earned and hard won

401
00:22:44,920 --> 00:22:47,400
Speaker 9: by the people of Northern Ireland with support from their

402
00:22:47,400 --> 00:22:51,000
Speaker 9: friends and support of businesses like Liberty Mutual, which at

403
00:22:51,000 --> 00:22:53,359
Speaker 9: that time was headed by a Belfast native, Ted Kelly.

404
00:22:53,440 --> 00:22:57,280
Speaker 9: After the Good Friday Agreement, that was a critical investor

405
00:22:57,400 --> 00:23:00,000
Speaker 9: and friend alongside some of these businesses to help spread

406
00:23:00,160 --> 00:23:03,479
Speaker 9: that as it's called a peace dividend more broadly across society.

407
00:23:03,480 --> 00:23:05,000
Speaker 9: And that's what the Presidence asked me to do. But

408
00:23:05,400 --> 00:23:07,720
Speaker 9: it's common and it was I think an extraordinary moment

409
00:23:07,760 --> 00:23:09,800
Speaker 9: for us and our delegation to see that, sense it,

410
00:23:10,240 --> 00:23:13,920
Speaker 9: and look at the opportunities provided by this new agreement

411
00:23:13,960 --> 00:23:16,720
Speaker 9: and tribute to the British government and those windsor framework

412
00:23:16,800 --> 00:23:20,920
Speaker 9: to actually incentivize Northern Ireland as a potential place for

413
00:23:21,520 --> 00:23:23,040
Speaker 9: investment to all of Europe.

414
00:23:24,040 --> 00:23:26,119
Speaker 1: Well, it sounds like a successful trip.

415
00:23:26,160 --> 00:23:29,960
Speaker 3: Congressman, I'm guessing that you wouldn't mind taking a couple

416
00:23:29,960 --> 00:23:32,000
Speaker 3: of your former colleagues on Capitol hill for a walk

417
00:23:32,080 --> 00:23:32,440
Speaker 3: right now.

418
00:23:32,720 --> 00:23:35,440
Speaker 1: The level of discord that we're seeing.

419
00:23:35,880 --> 00:23:38,000
Speaker 3: I'd love to ask you about, but I wonder if

420
00:23:38,040 --> 00:23:43,840
Speaker 3: it actually impacts deal making abroad, commitments from other countries

421
00:23:43,880 --> 00:23:49,399
Speaker 3: when they see a legislature that sometimes lately does not function.

422
00:23:52,240 --> 00:23:55,880
Speaker 9: Joe, Look, I talked to mild colleagues there. Almost every day.

423
00:23:57,520 --> 00:24:00,439
Speaker 9: It's hard, it's raw, as you saw today, and you

424
00:24:00,480 --> 00:24:04,960
Speaker 9: see most days. You can sense the feeling from a

425
00:24:05,040 --> 00:24:10,080
Speaker 9: number of folks of despite the best intentions of some

426
00:24:10,160 --> 00:24:12,920
Speaker 9: that are really trying on both sides of the dial

427
00:24:12,960 --> 00:24:15,240
Speaker 9: and across both sides of the capital that are trying

428
00:24:15,280 --> 00:24:17,760
Speaker 9: to try to find ways to make the place work,

429
00:24:18,119 --> 00:24:20,240
Speaker 9: that there's forces there that are really set on making

430
00:24:20,280 --> 00:24:24,760
Speaker 9: sure it doesn't. And you know, democracy is hard. It's

431
00:24:24,840 --> 00:24:28,200
Speaker 9: easier to break than make work. But it does mean

432
00:24:28,240 --> 00:24:31,879
Speaker 9: that we all share responsibility and trying to make this work.

433
00:24:32,040 --> 00:24:35,959
Speaker 9: And you know, I think without question it makes it

434
00:24:36,119 --> 00:24:38,320
Speaker 9: more difficult. That being said, you know, markets had a

435
00:24:38,320 --> 00:24:41,119
Speaker 9: good day to day, and this is something that we

436
00:24:41,600 --> 00:24:43,640
Speaker 9: all still need to work pretty hard to make sure

437
00:24:43,680 --> 00:24:49,280
Speaker 9: that the United States, you know, politically, economically, legally, just

438
00:24:49,480 --> 00:24:52,000
Speaker 9: the structural frameworks here remain sound so that we can

439
00:24:52,160 --> 00:24:53,240
Speaker 9: continue to benefit from it.

440
00:24:54,400 --> 00:24:57,600
Speaker 4: Well, so you say that democracy is hard, and maybe

441
00:24:57,680 --> 00:25:01,000
Speaker 4: other democracies like the one you are wor working closely with,

442
00:25:01,400 --> 00:25:04,639
Speaker 4: know that and can recognize it. But those countries that

443
00:25:04,640 --> 00:25:07,160
Speaker 4: aren't let in a democratic fashion may say, well, why

444
00:25:07,200 --> 00:25:09,199
Speaker 4: would we want that? And I wonder if if the

445
00:25:09,240 --> 00:25:12,200
Speaker 4: real issue for the US in terms of perception abroad

446
00:25:12,240 --> 00:25:14,040
Speaker 4: is with some of those other countries, Like say, I

447
00:25:14,080 --> 00:25:16,680
Speaker 4: don't know China as President Biden is getting said to

448
00:25:16,680 --> 00:25:17,840
Speaker 4: meet washijhin Ping tomorrow.

449
00:25:19,680 --> 00:25:22,480
Speaker 9: Well, you've also seen Kaylee the And it's a good question, right,

450
00:25:22,520 --> 00:25:25,880
Speaker 9: you've seen perceptions of Chinese A quarterat of recent polling

451
00:25:25,920 --> 00:25:28,359
Speaker 9: of the United States has actually increased markedly over the

452
00:25:28,359 --> 00:25:32,920
Speaker 9: course the past several months. And you know, I hesitate

453
00:25:32,960 --> 00:25:36,960
Speaker 9: to wholly put you know, too much credit in in

454
00:25:37,040 --> 00:25:41,760
Speaker 9: polling where you know, media isn't as free and open

455
00:25:41,800 --> 00:25:45,080
Speaker 9: as it is here in the United States. And when

456
00:25:45,080 --> 00:25:49,000
Speaker 9: you think of the ability of government to make decisions

457
00:25:49,080 --> 00:25:51,960
Speaker 9: for its people, yeah, certainly those people making decisions think

458
00:25:52,000 --> 00:25:55,439
Speaker 9: that autocracies might be better. Turn around and ask some

459
00:25:55,520 --> 00:25:57,080
Speaker 9: of the other folks that on the other side of

460
00:25:57,080 --> 00:25:59,720
Speaker 9: those decisions how they feel about living in an authoritarian

461
00:25:59,760 --> 00:26:03,200
Speaker 9: system rather than one that is open, free and responsive.

462
00:26:03,240 --> 00:26:06,440
Speaker 9: And look, we've got major structural issues in our democracy

463
00:26:06,440 --> 00:26:08,119
Speaker 9: that we need to work on and we need to

464
00:26:08,200 --> 00:26:12,919
Speaker 9: invest in, and that haven't gotten the attension that I think, well, candidate,

465
00:26:12,920 --> 00:26:14,320
Speaker 9: I think some of us have taken for granted that

466
00:26:14,320 --> 00:26:16,159
Speaker 9: we didn't need to invest it in these structures of

467
00:26:16,160 --> 00:26:19,320
Speaker 9: democracy because we just figured that they were settled. Democracy

468
00:26:19,359 --> 00:26:22,920
Speaker 9: has never settled. It is continually earned, and we as

469
00:26:22,960 --> 00:26:25,000
Speaker 9: a society, I don't care where you are fall in

470
00:26:25,000 --> 00:26:27,480
Speaker 9: that political spectrum, have to invest in it and when

471
00:26:27,520 --> 00:26:30,160
Speaker 9: you don't, there's consequences.

472
00:26:31,280 --> 00:26:33,040
Speaker 3: Well, I know that you've been busy in your own

473
00:26:33,080 --> 00:26:37,880
Speaker 3: way with the Groundwork Project, helping to organize folks around

474
00:26:37,920 --> 00:26:42,199
Speaker 3: the country, separate from your duties with the State Department. Here, Congressman,

475
00:26:42,280 --> 00:26:44,359
Speaker 3: I wonder you and I have been talking for a

476
00:26:44,400 --> 00:26:48,160
Speaker 3: long time since before you served in Congress. I wonder

477
00:26:48,200 --> 00:26:50,040
Speaker 3: if you're just glad to not be in the middle

478
00:26:50,080 --> 00:26:53,080
Speaker 3: of it right now, or if you'd like to come

479
00:26:53,119 --> 00:26:54,399
Speaker 3: here and knock some heads together.

480
00:26:57,720 --> 00:26:59,560
Speaker 9: Joe. As you know, I've got a young family. It's

481
00:26:59,560 --> 00:27:02,400
Speaker 9: been nice and some additional time with them, and candidly,

482
00:27:03,760 --> 00:27:06,719
Speaker 9: when you have a chance to when I talk to

483
00:27:06,760 --> 00:27:10,000
Speaker 9: my colleagues that are still sitting in office and who

484
00:27:10,000 --> 00:27:12,280
Speaker 9: are working very hard to try to make the system work,

485
00:27:12,320 --> 00:27:16,640
Speaker 9: but can feel, you can feel it blocked right by

486
00:27:16,960 --> 00:27:21,120
Speaker 9: forces beyond their control. A couple of good friends announced

487
00:27:21,119 --> 00:27:25,040
Speaker 9: their retirement this past weekend, saying, you know, it essentially

488
00:27:25,119 --> 00:27:29,280
Speaker 9: isn't worth it anymore. And while I understand that decision

489
00:27:29,400 --> 00:27:32,159
Speaker 9: on a personal basis for them, I ache for our

490
00:27:32,160 --> 00:27:36,119
Speaker 9: country because these positions are critically important to making the

491
00:27:36,160 --> 00:27:40,560
Speaker 9: basic features of our nation work and of democracy work.

492
00:27:40,960 --> 00:27:45,359
Speaker 9: And whether people understand it wholy or not, people around

493
00:27:45,359 --> 00:27:47,280
Speaker 9: the world do look to the United States to be

494
00:27:47,320 --> 00:27:50,040
Speaker 9: a place where government works, where people try to stand

495
00:27:50,119 --> 00:27:53,360
Speaker 9: up and do the right thing. And when you've got

496
00:27:53,359 --> 00:27:55,000
Speaker 9: some of the highlights that you're seeing coming out of

497
00:27:55,840 --> 00:27:58,480
Speaker 9: the capital and out of our democracy in recent days,

498
00:27:58,640 --> 00:28:01,520
Speaker 9: in weeks and months, that can be harder to do,

499
00:28:01,640 --> 00:28:05,040
Speaker 9: but without question, it matters. There's still good people there,

500
00:28:05,800 --> 00:28:08,120
Speaker 9: and good people on both sides of the island again

501
00:28:08,160 --> 00:28:10,960
Speaker 9: on both sides of the Capitol. But this takes work,

502
00:28:11,119 --> 00:28:14,400
Speaker 9: and this takes effort, and you know, for all of us,

503
00:28:14,800 --> 00:28:16,439
Speaker 9: that isn't just going to happen because you want it

504
00:28:16,480 --> 00:28:18,280
Speaker 9: to you got to put some muscle into it.

505
00:28:19,560 --> 00:28:22,840
Speaker 4: Yeah, so you are in communication, as you say, frequently

506
00:28:22,920 --> 00:28:25,720
Speaker 4: with your colleagues who still are in Congress.

507
00:28:25,720 --> 00:28:26,280
Speaker 5: What about the.

508
00:28:26,200 --> 00:28:28,879
Speaker 4: Communication you're having in your role now you're trying to

509
00:28:28,920 --> 00:28:31,719
Speaker 4: convince businesses that operate in the US to also invest

510
00:28:32,160 --> 00:28:34,840
Speaker 4: in Northern Ireland. But when you're having conversations with those

511
00:28:34,880 --> 00:28:37,399
Speaker 4: business leaders, what are they telling you about how they

512
00:28:37,560 --> 00:28:39,000
Speaker 4: view the political environment.

513
00:28:41,560 --> 00:28:43,800
Speaker 9: So that was part of the benefit of taking this

514
00:28:43,840 --> 00:28:47,440
Speaker 9: group over fifty business leaders over to Northern Ireland was

515
00:28:47,680 --> 00:28:49,120
Speaker 9: for them to get a sense of what it was

516
00:28:49,160 --> 00:28:52,360
Speaker 9: like over there and to see it for themselves and

517
00:28:52,400 --> 00:28:54,280
Speaker 9: not just you know, read about it or experience it

518
00:28:54,400 --> 00:28:57,440
Speaker 9: or candidly hear what their parents or what other people

519
00:28:57,520 --> 00:29:00,440
Speaker 9: might have thought about it. Because people transit through Dublin

520
00:29:00,520 --> 00:29:02,880
Speaker 9: frequently or London frequently, but I haven't made that trip

521
00:29:02,960 --> 00:29:04,960
Speaker 9: up to Belfast, or haven't gone to a border region

522
00:29:05,040 --> 00:29:08,800
Speaker 9: like Newry, or haven't quite visited a city like Derry

523
00:29:08,840 --> 00:29:12,520
Speaker 9: that has walls dating four centuries ago. But if you

524
00:29:12,560 --> 00:29:14,920
Speaker 9: go to Derry, you'll also find out that Seagate, one

525
00:29:14,960 --> 00:29:18,200
Speaker 9: of the world's leading manufacturers of hard drives, has had

526
00:29:18,240 --> 00:29:22,400
Speaker 9: a facility there for decades. When you go to Belfast

527
00:29:22,400 --> 00:29:25,120
Speaker 9: and find out it's the number one destination for cybersecurity

528
00:29:25,160 --> 00:29:28,200
Speaker 9: investment in all of Europe, right, they're surprised. You go

529
00:29:28,240 --> 00:29:29,800
Speaker 9: to Newry and you see that it's home to a

530
00:29:29,880 --> 00:29:33,360
Speaker 9: billion dollar financial services firm and first to river. There's

531
00:29:33,400 --> 00:29:37,080
Speaker 9: an extraordinary story to tell. And well, you can look

532
00:29:37,120 --> 00:29:40,000
Speaker 9: back on these times of the troubles and the history

533
00:29:40,040 --> 00:29:41,959
Speaker 9: of Northern Ireland and say, gosh, they've got a long

534
00:29:42,000 --> 00:29:44,040
Speaker 9: way to go. I kind of turn that around and say,

535
00:29:44,040 --> 00:29:46,600
Speaker 9: look how far you've come. Right, look at what the

536
00:29:46,680 --> 00:29:49,640
Speaker 9: United States did in our founding. Right, We've wrote a constitution,

537
00:29:49,760 --> 00:29:51,920
Speaker 9: we threw it out about a dozen years later, we

538
00:29:51,920 --> 00:29:54,480
Speaker 9: wrote a new one. We still didn't recognize women as people,

539
00:29:54,960 --> 00:29:58,360
Speaker 9: or anybody other than a white Protestant man at rich

540
00:29:58,400 --> 00:30:00,440
Speaker 9: white Protestant man is having any sort of stature in

541
00:30:00,440 --> 00:30:02,760
Speaker 9: our society. We fought a civil war and are still

542
00:30:02,800 --> 00:30:06,160
Speaker 9: wrestling with the remnants of it. And so to turn

543
00:30:06,200 --> 00:30:08,800
Speaker 9: back around and say for Northern Ireland that was in

544
00:30:08,840 --> 00:30:12,640
Speaker 9: some aspect of conflict for literally hundreds of years, to

545
00:30:12,720 --> 00:30:15,840
Speaker 9: see that they've come this far in twenty five is

546
00:30:15,920 --> 00:30:19,080
Speaker 9: nothing short of extraordinary. They've done the hard part. There's

547
00:30:19,080 --> 00:30:24,240
Speaker 9: an opportunity here for precision manufacturers, medical device companies, pharmaceutical companies,

548
00:30:24,280 --> 00:30:28,320
Speaker 9: financial services companies that are looking for an opportunity, a

549
00:30:28,440 --> 00:30:30,920
Speaker 9: landing pad to invest in Europe and gain access to

550
00:30:30,920 --> 00:30:33,360
Speaker 9: Europe and gain access not just to the EU but

551
00:30:33,440 --> 00:30:35,640
Speaker 9: the UK. Northern Ireland is the only region in the

552
00:30:35,640 --> 00:30:39,200
Speaker 9: world that will have unfettered market access to both those areas,

553
00:30:39,240 --> 00:30:42,680
Speaker 9: and so there's a real opportunity going forward for companies

554
00:30:42,680 --> 00:30:44,600
Speaker 9: that are aware of it, one who invest in it

555
00:30:44,640 --> 00:30:46,400
Speaker 9: and put some time in and I think they'll reap

556
00:30:46,400 --> 00:30:47,160
Speaker 9: their rewards from it.

557
00:30:49,480 --> 00:30:52,880
Speaker 3: Joe Kennedy, the former Congressman US Special Envoyd in Northern

558
00:30:52,880 --> 00:30:55,840
Speaker 3: Ireland for Economic Affairs. We thank you for the long

559
00:30:55,960 --> 00:30:58,200
Speaker 3: view and your perspective today. I hope your family as well.

560
00:31:00,080 --> 00:31:01,720
Speaker 9: Thank you, Joe. Great to be with you. Thanks so

561
00:31:01,800 --> 00:31:02,360
Speaker 9: much for having me.

562
00:31:02,360 --> 00:31:04,320
Speaker 3: Thanks Kelly, it's great to have you with us here.

563
00:31:04,480 --> 00:31:06,840
Speaker 3: I'm Joe Matthew with Kayley Lynes. This is Bloomberg Sound On.

564
00:31:06,920 --> 00:31:09,840
Speaker 3: You might not be aware of what the Congressman was

565
00:31:09,880 --> 00:31:14,880
Speaker 3: referring to early in that interview, but Kaylee, I don't

566
00:31:14,920 --> 00:31:16,440
Speaker 3: even know what to say about some of the stuff

567
00:31:16,440 --> 00:31:17,440
Speaker 3: that's happened today.

568
00:31:17,640 --> 00:31:19,320
Speaker 1: Congress has become fight club.

569
00:31:19,960 --> 00:31:22,360
Speaker 4: Yes, there's a few incidents we could talk about here,

570
00:31:22,480 --> 00:31:28,000
Speaker 4: Joe one being evidently former speaker ousted Speaker Kevin McCarthy

571
00:31:28,080 --> 00:31:31,240
Speaker 4: elbowed one of his ousters, Congressman Tim Burchett of Tennessee.

572
00:31:32,240 --> 00:31:35,440
Speaker 4: Then Burchett questioned whether he had any guts tried to

573
00:31:35,560 --> 00:31:38,320
Speaker 4: chase after him. McCarthy says this was all innocent. There

574
00:31:38,360 --> 00:31:40,640
Speaker 4: was no intentional butup, so that was one thing.

575
00:31:41,520 --> 00:31:44,840
Speaker 1: Yeah, Well, he says he got a shot to the kidney.

576
00:31:44,960 --> 00:31:48,120
Speaker 4: Yeah, And Matt Gates is now trying to open an

577
00:31:48,160 --> 00:31:50,200
Speaker 4: ethics probe into this particular incident.

578
00:31:50,680 --> 00:31:53,000
Speaker 3: Tim Burchett's been on with us, he has in this

579
00:31:53,200 --> 00:31:57,040
Speaker 3: very space before the Congressman was talking to a reporter.

580
00:31:57,680 --> 00:31:59,920
Speaker 3: He says McCarthy jabbed him from behind when he was

581
00:32:00,080 --> 00:32:01,400
Speaker 3: like he talked about it unseen.

582
00:32:01,520 --> 00:32:03,760
Speaker 10: And got elbowed in the back. And it kind of

583
00:32:03,760 --> 00:32:05,640
Speaker 10: caught me off guard because it was a clean shot

584
00:32:05,680 --> 00:32:07,480
Speaker 10: to the kidneys. And I turned back and there was

585
00:32:08,120 --> 00:32:12,080
Speaker 10: Kevin and and I for a minute, I was kind

586
00:32:12,080 --> 00:32:15,240
Speaker 10: of what the heck just happened? And then I, you know,

587
00:32:15,480 --> 00:32:18,320
Speaker 10: I chased after him. Of course, he's a As I've

588
00:32:18,320 --> 00:32:20,640
Speaker 10: stated it many times, he's a he's a bully with

589
00:32:20,680 --> 00:32:23,000
Speaker 10: seventeen million dollars in a security detail.

590
00:32:24,080 --> 00:32:24,360
Speaker 1: Wow.

591
00:32:24,480 --> 00:32:28,160
Speaker 3: Okay, then he does have a lot of money, and

592
00:32:28,200 --> 00:32:30,280
Speaker 3: I guess he has a security detail. We got uh,

593
00:32:30,680 --> 00:32:33,440
Speaker 3: we got a response from McCarthy, yeah, and chased him down.

594
00:32:33,480 --> 00:32:34,720
Speaker 1: They had a face off after that.

595
00:32:35,240 --> 00:32:38,000
Speaker 4: McCarthy said if he hit somebody, they would know it.

596
00:32:40,200 --> 00:32:41,880
Speaker 5: Okay, So that's one episode.

597
00:32:42,200 --> 00:32:42,280
Speaker 6: Uh.

598
00:32:42,440 --> 00:32:44,880
Speaker 1: Burchette says he did catch up with him and the

599
00:32:44,920 --> 00:32:46,240
Speaker 1: security detail.

600
00:32:45,920 --> 00:32:49,920
Speaker 10: Was as he always did. Dose he just denies it

601
00:32:50,040 --> 00:32:53,600
Speaker 10: or blamed somebody else or something, you know, And it

602
00:32:53,680 --> 00:32:56,680
Speaker 10: was just a little heated. But I just backed off

603
00:32:56,680 --> 00:32:58,760
Speaker 10: because there was any I saw no reason. I wasn't

604
00:32:58,760 --> 00:32:59,960
Speaker 10: gaining anything from it.

605
00:33:00,880 --> 00:33:03,000
Speaker 1: So I think we're probably done with that.

606
00:33:03,160 --> 00:33:03,480
Speaker 5: Okay.

607
00:33:04,120 --> 00:33:07,240
Speaker 3: What happened in the hearing of the Senator Mark Wayne Mullen,

608
00:33:07,320 --> 00:33:10,080
Speaker 3: I don't know what to say about though. Yeah, Sean O'Brien,

609
00:33:10,120 --> 00:33:12,080
Speaker 3: the head of the Teamster's Union, who is sat at

610
00:33:12,120 --> 00:33:12,560
Speaker 3: this desk.

611
00:33:13,480 --> 00:33:16,200
Speaker 1: All these people have been on with us, they're real people.

612
00:33:16,760 --> 00:33:17,000
Speaker 9: Yep.

613
00:33:17,360 --> 00:33:19,760
Speaker 3: This blew up into something because I guess Sean O'Brien's

614
00:33:19,800 --> 00:33:23,920
Speaker 3: been tweeting about Mark Wayne Mullen as we hear he's

615
00:33:23,960 --> 00:33:24,680
Speaker 3: reading one of these.

616
00:33:24,600 --> 00:33:27,880
Speaker 11: Twits, the Tough Guy Act and the Senate hearings. You

617
00:33:27,920 --> 00:33:31,640
Speaker 11: know where to find me, any place, any time, cowboy.

618
00:33:33,040 --> 00:33:35,120
Speaker 1: Okay, so this is the time. This is a place.

619
00:33:35,600 --> 00:33:37,360
Speaker 11: If you want to run your mouth, we can be

620
00:33:37,400 --> 00:33:39,360
Speaker 11: too consenting adults. We can finish it here.

621
00:33:39,520 --> 00:33:41,600
Speaker 1: Okay, that's fine, perfect, you want to do it now.

622
00:33:41,720 --> 00:33:44,520
Speaker 1: I'd love to do it right now? Do you stand up?

623
00:33:45,400 --> 00:33:46,720
Speaker 9: Hold stop it?

624
00:33:46,920 --> 00:33:47,840
Speaker 7: Okay? So they get up.

625
00:33:48,880 --> 00:33:51,640
Speaker 3: Everybody's out of their chaired.

626
00:33:51,720 --> 00:33:57,200
Speaker 1: Bernie Sanders the chair acted. Please can I resp hold it?

627
00:33:58,840 --> 00:33:59,959
Speaker 1: What we can is going on.

628
00:34:00,000 --> 00:34:02,160
Speaker 9: I'm sorry, this is all that you said.

629
00:34:02,200 --> 00:34:03,240
Speaker 2: You'll have your time?

630
00:34:03,800 --> 00:34:04,480
Speaker 1: Can I respond?

631
00:34:04,680 --> 00:34:05,240
Speaker 7: No, you can't.

632
00:34:06,120 --> 00:34:10,960
Speaker 1: This is a hearing the American people contempt.

633
00:34:11,360 --> 00:34:16,520
Speaker 2: But Congress's I don't like rugs, and.

634
00:34:14,960 --> 00:34:17,799
Speaker 1: I don't like you because you describe yourself. Oh wait

635
00:34:17,840 --> 00:34:19,239
Speaker 1: a minute, they're gonna get up again.

636
00:34:20,200 --> 00:34:20,399
Speaker 2: Time.

637
00:34:22,360 --> 00:34:25,360
Speaker 3: This is what the American people are seeing today instead

638
00:34:25,360 --> 00:34:28,480
Speaker 3: of an effort to fund the government, which apparently also

639
00:34:28,520 --> 00:34:29,919
Speaker 3: will happen before this day is over.

640
00:34:30,160 --> 00:34:32,879
Speaker 5: Yeah, about an hour and a half. Joe for a third.

641
00:34:35,320 --> 00:34:39,880
Speaker 3: Yeah, we'll talk about it on Bower Leader meet Kaylee

642
00:34:39,960 --> 00:34:42,400
Speaker 3: and I balance the Power of Bloomberg TV five o'clock.

643
00:34:43,400 --> 00:34:45,240
Speaker 1: Thanks for listening to the Sound on podcast.

644
00:34:45,360 --> 00:34:48,480
Speaker 3: Make sure to subscribe if you haven't already, at Apple, Spotify,

645
00:34:48,520 --> 00:34:50,960
Speaker 3: and anywhere else you get your podcasts, and you can

646
00:34:51,000 --> 00:34:53,520
Speaker 3: find us live every weekday from Washington, d C.

647
00:34:53,680 --> 00:34:58,560
Speaker 1: At one pm Eastern Time at Bloomberg dot com.