1
00:00:02,520 --> 00:00:07,040
Speaker 1: Bloomberg Audio Studios, Podcasts, Radio News.

2
00:00:09,960 --> 00:00:13,160
Speaker 2: Good morning, I'm Nathan Hager and I'm Karen Moscow. Here

3
00:00:13,160 --> 00:00:15,720
Speaker 2: are the stories we're following today, Karen.

4
00:00:15,760 --> 00:00:19,200
Speaker 3: The longest government shutdown in American history is close to

5
00:00:19,280 --> 00:00:22,200
Speaker 3: coming to an end at the forty three day mark.

6
00:00:22,480 --> 00:00:25,200
Speaker 3: The House is coming back into session this afternoon for

7
00:00:25,239 --> 00:00:28,639
Speaker 3: the first time since before the shutdown began to vote

8
00:00:28,640 --> 00:00:30,960
Speaker 3: on a measure that would reopen most of the government

9
00:00:31,000 --> 00:00:34,960
Speaker 3: through late January. House Minardi Leader Hakim Jeffrey says it's

10
00:00:35,000 --> 00:00:38,519
Speaker 3: the end of a taxpayer funded vacation for Republicans.

11
00:00:38,680 --> 00:00:44,240
Speaker 4: These people have been missing in action, absent without official leave,

12
00:00:45,640 --> 00:00:49,360
Speaker 4: running scared, but they can no longer hide.

13
00:00:49,520 --> 00:00:53,480
Speaker 3: Minority Leader Hakim Jeffrey says House Democrats will oppose the bill,

14
00:00:53,560 --> 00:00:56,440
Speaker 3: but Bloomberg Zeric Wasson reports it is likely to.

15
00:00:56,440 --> 00:00:58,680
Speaker 5: Pass, and it'll be a tight margin for a House

16
00:00:58,720 --> 00:01:01,800
Speaker 5: Speaker of Mike Johnson as the two vote margin. Democrats

17
00:01:01,840 --> 00:01:04,880
Speaker 5: are lining up against it. You know, the Minority Leader

18
00:01:04,959 --> 00:01:07,040
Speaker 5: Hakim Jeffries has said he will vote against that. He's

19
00:01:07,080 --> 00:01:09,959
Speaker 5: whipping his members to vote against it because it does

20
00:01:10,000 --> 00:01:14,600
Speaker 5: not contain an actual extension of the ACA premium text. Credits.

21
00:01:14,760 --> 00:01:18,440
Speaker 5: But there are some Democratic members I'm looking at Henry Quaar,

22
00:01:18,600 --> 00:01:21,840
Speaker 5: Jared Golden and others who are likely to cross party

23
00:01:21,840 --> 00:01:24,200
Speaker 5: lines and vote for this, And so I'm expecting the

24
00:01:24,200 --> 00:01:26,319
Speaker 5: government to be reopened by Thursday morning.

25
00:01:26,440 --> 00:01:29,240
Speaker 3: And Bloomberg Zeric Wasson reports President Trump has said he

26
00:01:29,319 --> 00:01:30,119
Speaker 3: will sign the.

27
00:01:30,040 --> 00:01:34,520
Speaker 2: Bill until the government reopens, Nathan. Millions of Americans are

28
00:01:34,600 --> 00:01:37,600
Speaker 2: likely to keep missing out on food assistance. The Supreme

29
00:01:37,640 --> 00:01:40,800
Speaker 2: Court has extended a pause on four billion dollars in

30
00:01:40,880 --> 00:01:44,320
Speaker 2: snap benefits, signing with the Trump administration with the block

31
00:01:44,400 --> 00:01:47,760
Speaker 2: on lower court orders that required immediate full payment for

32
00:01:47,840 --> 00:01:51,440
Speaker 2: about forty two million recipients. The administration told the High

33
00:01:51,520 --> 00:01:54,640
Speaker 2: Court that resuming the benefits could upend the deal that

34
00:01:54,680 --> 00:01:58,720
Speaker 2: Republicans made with eight Senate Democrats to end the shutdown.

35
00:01:58,360 --> 00:01:58,760
Speaker 6: Think Karen.

36
00:01:58,840 --> 00:02:02,080
Speaker 3: Some House lawmakers could be contending with airport delays as

37
00:02:02,120 --> 00:02:04,360
Speaker 3: they make their way back to Washington to vote on

38
00:02:04,400 --> 00:02:06,960
Speaker 3: the deal. Airlines are still being told to thin their

39
00:02:06,960 --> 00:02:11,079
Speaker 3: flight schedules. Transportation Secretary Sean Duffy says the cutbacks will

40
00:02:11,080 --> 00:02:13,239
Speaker 3: get worse if the shutdown continues.

41
00:02:13,520 --> 00:02:16,040
Speaker 7: I've had questions about what happens for Thanksgiving.

42
00:02:16,320 --> 00:02:17,840
Speaker 3: There's a lot of Thanksgiving trouble.

43
00:02:17,880 --> 00:02:20,400
Speaker 5: What's going to happen during that timeframe.

44
00:02:20,840 --> 00:02:22,200
Speaker 8: I'm going to tell you we are not going to

45
00:02:22,200 --> 00:02:23,000
Speaker 8: get to Thanksgiving.

46
00:02:23,560 --> 00:02:27,000
Speaker 3: Transportation Secretary Sean Duffy spoke from Chicago Hare, one of

47
00:02:27,000 --> 00:02:29,440
Speaker 3: the airport's hit hardest by the FAA mandate to cut

48
00:02:29,440 --> 00:02:32,960
Speaker 3: flight schedules by ten percent by the end of the week. Today,

49
00:02:33,080 --> 00:02:35,720
Speaker 3: there could be some relief. As of early this morning,

50
00:02:35,760 --> 00:02:39,160
Speaker 3: flight Aware showed fewer than nine hundred domestic and international

51
00:02:39,160 --> 00:02:42,040
Speaker 3: flights canceled. That number could rise through the day, but

52
00:02:42,320 --> 00:02:44,640
Speaker 3: Wednesdays tend to be slow travel days.

53
00:02:45,120 --> 00:02:48,240
Speaker 2: Nathan My lawmakers get ready to vote on the shutdown deal.

54
00:02:48,360 --> 00:02:52,280
Speaker 2: President Trump is getting ready to host top financial executives

55
00:02:52,320 --> 00:02:54,400
Speaker 2: for dinner at the White House and begin more with

56
00:02:54,440 --> 00:02:55,800
Speaker 2: The Bloomberg's John Tucker.

57
00:02:56,200 --> 00:02:59,799
Speaker 8: The move is aimed at solidifying support of America's business elite.

58
00:02:59,680 --> 00:03:03,040
Speaker 8: Were told JP Boring and Chase CEO Jamie Diamond will attend,

59
00:03:03,360 --> 00:03:07,560
Speaker 8: along with Golvin Sachs, David Solomon, nastac's Dina Friedman, Black Rocks,

60
00:03:07,639 --> 00:03:11,120
Speaker 8: Larry Fink, and Morgan Stanley's ten Pick. The dinner comes

61
00:03:11,240 --> 00:03:15,440
Speaker 8: as Trump faces rising political pressure on the economy and affordability.

62
00:03:15,840 --> 00:03:19,520
Speaker 8: Those issues anchored Democratic elector wins last week in New Jersey.

63
00:03:19,560 --> 00:03:22,720
Speaker 8: In Virginia, Trump boosted his support among Wall Street's e

64
00:03:22,760 --> 00:03:25,600
Speaker 8: lead in the twenty twenty four campaign with promises to

65
00:03:25,600 --> 00:03:30,080
Speaker 8: lower taxes in an act sweeping deregulation that spurred optimism

66
00:03:30,120 --> 00:03:33,200
Speaker 8: over his economic agenda. I'm John Tucker, Bloomberg Radio.

67
00:03:33,440 --> 00:03:33,680
Speaker 6: John.

68
00:03:33,720 --> 00:03:36,000
Speaker 3: Thanks, turning to market's optimism over and end of the

69
00:03:36,040 --> 00:03:39,240
Speaker 3: shutdown has stocks moving higher once again this morning. The

70
00:03:39,240 --> 00:03:42,760
Speaker 3: down Jones Industrial average closed at a record high yesterday,

71
00:03:42,800 --> 00:03:46,640
Speaker 3: and John Stoltzfitz, chief investment strategist at Oppenheimer, is bullish

72
00:03:46,680 --> 00:03:47,559
Speaker 3: going forward.

73
00:03:47,520 --> 00:03:50,080
Speaker 9: When we look at it, If anything, we think the

74
00:03:50,480 --> 00:03:54,680
Speaker 9: rally has broadened, but it's still driven by technology because

75
00:03:54,760 --> 00:03:59,200
Speaker 9: technology drive technology like credit makes the world go around.

76
00:03:59,200 --> 00:04:01,760
Speaker 9: When it comes to finance and the market, I really

77
00:04:01,800 --> 00:04:05,920
Speaker 9: believe no matter what the turbulences in Washington or Beijing

78
00:04:06,440 --> 00:04:10,240
Speaker 9: or Moscow, the ultimately what they're really carrying about is

79
00:04:10,440 --> 00:04:12,120
Speaker 9: revenue growth and profit growth.

80
00:04:12,280 --> 00:04:15,840
Speaker 3: We've got a Oppenheimer Chief investment strategist, John Soltzwas has

81
00:04:15,840 --> 00:04:17,880
Speaker 3: a seventy one hundred price target for the S and

82
00:04:17,920 --> 00:04:19,600
Speaker 3: P five hundred by the end of the year. That's

83
00:04:19,640 --> 00:04:22,800
Speaker 3: about a four percent gain from current levels, well.

84
00:04:22,640 --> 00:04:26,800
Speaker 2: Helping to lift stocks. This morning, Nathan Advanced micro Devices

85
00:04:26,880 --> 00:04:29,800
Speaker 2: that stock is up more than five percent in video's

86
00:04:29,920 --> 00:04:33,960
Speaker 2: nearest rival, and AI Ships is predicting accelerating sales growth

87
00:04:34,000 --> 00:04:36,840
Speaker 2: over the next five years, driven by strong demand for

88
00:04:36,920 --> 00:04:40,040
Speaker 2: its data center products. At a company event in New York,

89
00:04:40,120 --> 00:04:43,440
Speaker 2: CEO Lisa Sue said annual revenue growth will average more

90
00:04:43,480 --> 00:04:46,520
Speaker 2: than thirty five percent over the next three to five years.

91
00:04:46,720 --> 00:04:49,760
Speaker 3: And when it comes to AI adoption Karen Federal Reserve

92
00:04:49,800 --> 00:04:52,920
Speaker 3: Governor Michael Barr says there needs to be clear guardrails

93
00:04:53,000 --> 00:04:56,400
Speaker 3: as the financial sector looks to adopt artificial intelligence in

94
00:04:56,480 --> 00:05:00,080
Speaker 3: its core functions. Speaking at the Singapore Fintech Festival, if

95
00:05:00,080 --> 00:05:02,520
Speaker 3: Our said regulators need to get the balance right between

96
00:05:02,520 --> 00:05:05,880
Speaker 3: innovation and stability to ensure that AI boosts growth and

97
00:05:05,920 --> 00:05:07,480
Speaker 3: productivity over the long term.

98
00:05:07,640 --> 00:05:12,120
Speaker 10: And I do worry that in the current environment, speaking

99
00:05:12,160 --> 00:05:15,160
Speaker 10: only for the United States, being only about the United States,

100
00:05:15,160 --> 00:05:17,600
Speaker 10: but not for the United States being only about the

101
00:05:17,680 --> 00:05:20,600
Speaker 10: United States, I worry that we're going to let that

102
00:05:21,440 --> 00:05:27,120
Speaker 10: pendulum swing too far and lower our guardrails. In a

103
00:05:27,160 --> 00:05:29,760
Speaker 10: way that opens us up to too much risk.

104
00:05:29,680 --> 00:05:31,800
Speaker 3: And some of the risks FED Governor Michael Barr is

105
00:05:31,800 --> 00:05:34,680
Speaker 3: flagging include market manipulation and collusion.

106
00:05:35,320 --> 00:05:38,400
Speaker 2: Well Nathan Visa is testing the ability for businesses to

107
00:05:38,560 --> 00:05:43,520
Speaker 2: send stable coins directly to consumer's cryptocurrency wallts for global payouts.

108
00:05:43,720 --> 00:05:46,760
Speaker 2: The stable coin payout option targets growing demand for FIAT

109
00:05:46,800 --> 00:05:50,200
Speaker 2: backed digital tokens among gig workers and digital creators, and

110
00:05:50,279 --> 00:05:53,440
Speaker 2: emerging markets where local currencies may be volatile.

111
00:05:53,680 --> 00:05:57,240
Speaker 3: Karen, The International Energy Agency is further tempering its stance

112
00:05:57,320 --> 00:06:00,640
Speaker 3: on an imminent peak in oil demand, reinstated a scenario

113
00:06:00,640 --> 00:06:03,400
Speaker 3: in which global consumption keeps growing to the middle of

114
00:06:03,440 --> 00:06:06,360
Speaker 3: the century. Bloomberg's Will Kennedy has more from London.

115
00:06:06,480 --> 00:06:09,159
Speaker 11: One of the reasons that oil demand is still rising

116
00:06:09,160 --> 00:06:11,280
Speaker 11: in the short and medium term is that it's relatively

117
00:06:11,320 --> 00:06:15,159
Speaker 11: plentiful and relatively cheap, and that that means that the

118
00:06:15,160 --> 00:06:17,919
Speaker 11: shift to electric vehicles, and the IA was explicit about this,

119
00:06:18,360 --> 00:06:21,719
Speaker 11: may not be as quite as quick as people expected.

120
00:06:21,560 --> 00:06:24,559
Speaker 3: Some years ago, Bloomberg's Will Kennedy says. In its latest report,

121
00:06:24,600 --> 00:06:28,280
Speaker 3: the IA reintroduced a scenario in which consumption rises thirteen

122
00:06:28,400 --> 00:06:32,800
Speaker 3: percent by twenty fifty. This morning, oil is moving lower

123
00:06:32,880 --> 00:06:35,760
Speaker 3: nine X crudes down one percent, rating its sixty dollars

124
00:06:35,760 --> 00:06:38,159
Speaker 3: forty three cents a barrel. Brent is down nine tenths

125
00:06:38,160 --> 00:06:40,279
Speaker 3: percent at sixty four fifty six.

126
00:06:44,120 --> 00:06:45,520
Speaker 2: It's time now for a look at some of the

127
00:06:45,560 --> 00:06:48,200
Speaker 2: other stories making news in New York and around the world,

128
00:06:48,200 --> 00:06:51,120
Speaker 2: and for that we're joined by Bloomberg's and Michael Barr. Michael,

129
00:06:51,120 --> 00:06:51,880
Speaker 2: Good Morning.

130
00:06:51,720 --> 00:06:55,520
Speaker 6: Good morning, Karen Age. The President Trump are reviewing potentially

131
00:06:55,640 --> 00:06:59,599
Speaker 6: suspending or can slung federal funds that benefit New York

132
00:06:59,600 --> 00:07:03,520
Speaker 6: City after Zoron Mumdani's victory in the mayoral race. The

133
00:07:03,520 --> 00:07:06,680
Speaker 6: White House is waiting on the President to approve any

134
00:07:06,839 --> 00:07:11,560
Speaker 6: funding freeze, with the administration not detailing specific programs that

135
00:07:11,640 --> 00:07:15,200
Speaker 6: could be affected. Mmdonnie said he will reach out to

136
00:07:15,240 --> 00:07:18,239
Speaker 6: the White House as he prepares to take office, stating

137
00:07:18,280 --> 00:07:21,000
Speaker 6: he is ready to work together, but will fight for

138
00:07:21,080 --> 00:07:25,200
Speaker 6: New Yorkers if necessary. A baby formula maker is pulling

139
00:07:25,280 --> 00:07:28,720
Speaker 6: all of its products off shelves after rising cases of

140
00:07:28,800 --> 00:07:32,920
Speaker 6: botulism and children. At least fifteen babies have been hospitalized

141
00:07:32,920 --> 00:07:36,800
Speaker 6: across twelve states, including New York and New Jersey with

142
00:07:37,000 --> 00:07:42,240
Speaker 6: infant botulism after consuming by heart formula. Stephen Abrams with

143
00:07:42,280 --> 00:07:46,440
Speaker 6: the University of Texas at Austin has some advice for parents.

144
00:07:46,280 --> 00:07:49,800
Speaker 5: If your baby has recently received that they should watch

145
00:07:49,840 --> 00:07:53,480
Speaker 5: the baby friendly signs of like a droopy faith or

146
00:07:53,520 --> 00:07:54,840
Speaker 5: the muscles aren't working.

147
00:07:54,640 --> 00:07:58,880
Speaker 6: Normally, Doctor Stephen Abrams. No deaths have been reported. A

148
00:07:58,960 --> 00:08:02,360
Speaker 6: human rights watch group has released its report on the

149
00:08:02,400 --> 00:08:05,880
Speaker 6: treatment of more than two hundred and fifty Venezuelan deporties

150
00:08:06,280 --> 00:08:10,080
Speaker 6: sent to a notorious prison in El Salvador. The director

151
00:08:10,120 --> 00:08:14,600
Speaker 6: of America's Division Juanita Golbertis Estrata, says what they found

152
00:08:14,680 --> 00:08:15,400
Speaker 6: was devastating.

153
00:08:15,800 --> 00:08:21,600
Speaker 12: They were denied basic hygiene or sanitation. They had inadequate

154
00:08:21,640 --> 00:08:26,160
Speaker 12: food provision. The water tanks that were both for baiting

155
00:08:26,200 --> 00:08:29,680
Speaker 12: and for drinking a detainees reported that it was yellow

156
00:08:29,720 --> 00:08:30,960
Speaker 12: and had worms on it.

157
00:08:31,600 --> 00:08:36,200
Speaker 6: America's Divisions Juanita Golberta's Estrata says the detainees were beaten

158
00:08:36,240 --> 00:08:41,880
Speaker 6: and tortured repeatedly. The southeastern US plunged into record low temperatures,

159
00:08:41,920 --> 00:08:46,720
Speaker 6: affecting eighteen million people under a freeze warning across Alabama, Florida,

160
00:08:46,800 --> 00:08:50,120
Speaker 6: and Georgia. The Northeast got an early visit from old

161
00:08:50,120 --> 00:08:53,439
Speaker 6: Man Winter as well. North of Syracuse, New York, about

162
00:08:53,440 --> 00:08:56,959
Speaker 6: a foot of snow fell in Central Square. Wind gusts

163
00:08:57,000 --> 00:08:59,400
Speaker 6: of up to forty miles an hour made it feel

164
00:08:59,440 --> 00:09:02,440
Speaker 6: even colder. From New York City to Philly, Global News

165
00:09:02,440 --> 00:09:04,560
Speaker 6: twenty four hours a day and whenever you want it

166
00:09:04,559 --> 00:09:07,920
Speaker 6: with the Bloomberg News Now, Michael Barne, this is Bloomberg Herron.

167
00:09:08,480 --> 00:09:11,800
Speaker 2: Thanks Michael, time now for our Bloomberg Sports Update, and

168
00:09:11,840 --> 00:09:13,760
Speaker 2: for that we bring in John stash Hour.

169
00:09:14,040 --> 00:09:16,760
Speaker 13: Thanks Darreonan Allis Mavericks are three at eight and nine

170
00:09:16,840 --> 00:09:20,319
Speaker 13: months after their gentle manager Nico Harrison made the surprising

171
00:09:20,440 --> 00:09:24,000
Speaker 13: move trading luc At Donzis to the Lakers, Harrison has

172
00:09:24,040 --> 00:09:26,559
Speaker 13: been fired on the court. Oklahoma City beat Golden State

173
00:09:26,840 --> 00:09:30,160
Speaker 13: the thunder eleven and one Managers of the Year Milwaukee's

174
00:09:30,200 --> 00:09:32,839
Speaker 13: Pat Murphy in the nationally for the second year in

175
00:09:32,840 --> 00:09:34,920
Speaker 13: a row. The Brewers had the best record in baseball

176
00:09:35,160 --> 00:09:38,120
Speaker 13: in the regular season. The Cleveland Guardians came from fifteen

177
00:09:38,200 --> 00:09:41,640
Speaker 13: down to win their division. Their manager, Stephen Vote one

178
00:09:41,679 --> 00:09:43,959
Speaker 13: honors in the AL. That's the Bloomberg Sports Update.

179
00:09:45,559 --> 00:09:46,320
Speaker 5: Stay with us.

180
00:09:46,440 --> 00:09:49,360
Speaker 2: More from Bloomberg day Break coming up after this.

181
00:09:53,440 --> 00:09:57,480
Speaker 1: Coast to coast on Bloomberg Radio, nationwide on Serious Exam

182
00:09:57,760 --> 00:10:00,600
Speaker 1: and around the world on Bloomberg dot Com and the

183
00:10:00,640 --> 00:10:03,680
Speaker 1: Bloomberg Business Appum. This is Bloomberg Daybreak.

184
00:10:03,840 --> 00:10:06,439
Speaker 3: Good morning, I'm Nathan Hager. By this time tomorrow, more

185
00:10:06,480 --> 00:10:10,079
Speaker 3: than six week government shutdown could be over. The House

186
00:10:10,160 --> 00:10:11,679
Speaker 3: is set to vote this evening on a bill that

187
00:10:11,720 --> 00:10:14,439
Speaker 3: would reopen most of the government through the end of January,

188
00:10:14,679 --> 00:10:17,600
Speaker 3: but without the Affordable Care Act subsidies that are set

189
00:10:17,640 --> 00:10:20,840
Speaker 3: to expire at the end of this year. Democratic Congressman

190
00:10:20,920 --> 00:10:24,080
Speaker 3: Jake Auchenclaus says that issue needs to be resolved before

191
00:10:24,120 --> 00:10:25,280
Speaker 3: premiums go up.

192
00:10:25,559 --> 00:10:28,760
Speaker 7: Democrats do need to use this moment of leverage to

193
00:10:28,960 --> 00:10:30,880
Speaker 7: get a win for the middle class. I've always agreed

194
00:10:30,920 --> 00:10:33,600
Speaker 7: with that, but we've got to be flexible and get

195
00:10:33,600 --> 00:10:36,240
Speaker 7: that push and pull of negotiation to actually secure the win.

196
00:10:36,480 --> 00:10:40,120
Speaker 3: Democrat Jake Auchencloss of Massachusetts was a guest on Bloomberg's

197
00:10:40,120 --> 00:10:43,000
Speaker 3: Balance of Power. This morning. We're joined by doctor Lindsay Newman,

198
00:10:43,080 --> 00:10:47,400
Speaker 3: geopolitical risk expert and columnists for G zero Media. Doctor Newman,

199
00:10:47,440 --> 00:10:49,680
Speaker 3: it's good to have you with us. This morning, forty

200
00:10:49,720 --> 00:10:56,400
Speaker 3: three days into the government shutdown, what's been gained? Good morning, Well, nay.

201
00:10:56,360 --> 00:10:59,160
Speaker 14: Nathan, that is the critical question. What was it all for?

202
00:10:59,480 --> 00:11:03,720
Speaker 14: And who has won as a result of this longest

203
00:11:03,880 --> 00:11:08,000
Speaker 14: government shutdown in US history. Spoken recently in recent days

204
00:11:08,000 --> 00:11:12,640
Speaker 14: with some other additional Democratic senior representatives, the sense some

205
00:11:12,720 --> 00:11:15,160
Speaker 14: of the Democrats is that this is a win. In

206
00:11:15,200 --> 00:11:17,760
Speaker 14: their telling, they've managed to shut down the government for

207
00:11:18,520 --> 00:11:21,520
Speaker 14: a period of time that was beyond their expectations over

208
00:11:21,559 --> 00:11:25,440
Speaker 14: this issue of healthcare subsidies, which they think resonates deeply

209
00:11:25,640 --> 00:11:30,440
Speaker 14: with American voters twenty million affected by the potential subsidies

210
00:11:30,480 --> 00:11:33,840
Speaker 14: running out and the premium increases. They also feel as

211
00:11:33,880 --> 00:11:38,839
Speaker 14: though the shutdown has revealed something about the current administration,

212
00:11:39,320 --> 00:11:42,240
Speaker 14: about its real commitment to these issues of affordability and

213
00:11:42,280 --> 00:11:44,880
Speaker 14: cost of living crisis, which will, as we know, be

214
00:11:45,240 --> 00:11:49,200
Speaker 14: the central issues of the twenty six mid term election.

215
00:11:49,320 --> 00:11:52,240
Speaker 14: But on the flip side of this view that the

216
00:11:52,280 --> 00:11:55,080
Speaker 14: Democrats have, what did they really gain? Well, we know

217
00:11:55,200 --> 00:11:59,640
Speaker 14: that there has been agreement by the Republicans to reverse

218
00:11:59,679 --> 00:12:03,760
Speaker 14: certain firings that took place during the government shutdown. We

219
00:12:03,840 --> 00:12:08,199
Speaker 14: know that there has been a commitment to make payments

220
00:12:08,280 --> 00:12:12,680
Speaker 14: on back outstanding ODE benefits under the Supplemental Nutrition Assistance

221
00:12:12,720 --> 00:12:18,120
Speaker 14: program that SNAP program, which were all very riveted about.

222
00:12:19,040 --> 00:12:22,160
Speaker 14: There was a moratorium on future firings, and then there

223
00:12:22,240 --> 00:12:25,240
Speaker 14: was this verbal promise that the Senate Majority Leader John

224
00:12:25,320 --> 00:12:29,360
Speaker 14: Thune made to hold a vote on the ACA subsidies,

225
00:12:30,160 --> 00:12:34,240
Speaker 14: and that seems to have pulled those senators across that

226
00:12:34,280 --> 00:12:38,640
Speaker 14: who did cross party across the aisle to vote for

227
00:12:38,720 --> 00:12:41,600
Speaker 14: this end of this of the government shutdown. But we

228
00:12:41,679 --> 00:12:44,280
Speaker 14: have to be wary because we've seen this story before,

229
00:12:44,400 --> 00:12:47,960
Speaker 14: and this is exactly the story that happened around the

230
00:12:48,000 --> 00:12:51,160
Speaker 14: twenty eighteen government shutdown, which was then about immigration, and

231
00:12:51,200 --> 00:12:54,120
Speaker 14: promises that were made by then Senate Majority Leader Mitch

232
00:12:54,200 --> 00:12:59,280
Speaker 14: McConnell to hold a vote on the DHAKA, those immigrants

233
00:12:59,280 --> 00:13:01,840
Speaker 14: who were brought into the into the US as children

234
00:13:01,880 --> 00:13:04,880
Speaker 14: and were undocumented, and that vote never happened. And the DOCA,

235
00:13:05,320 --> 00:13:09,199
Speaker 14: you know, the DOCA class of individuals, remains very much unresolved.

236
00:13:10,080 --> 00:13:13,960
Speaker 3: So if the issue isn't resolved after that vote, who

237
00:13:14,000 --> 00:13:16,720
Speaker 3: pays a political price here will be the Republicans. So

238
00:13:16,800 --> 00:13:19,920
Speaker 3: that many Democrats have said, will own rising healthcare costs

239
00:13:19,960 --> 00:13:21,840
Speaker 3: or will it be Democrats who didn't hold out for

240
00:13:21,880 --> 00:13:24,640
Speaker 3: a solution before reopening the government.

241
00:13:26,000 --> 00:13:29,600
Speaker 14: Yeah, it's really the question. I mean, the Democrats have

242
00:13:29,760 --> 00:13:32,160
Speaker 14: revealed their hand on this one, right, which is to say,

243
00:13:32,200 --> 00:13:34,720
Speaker 14: this is the issue that we think is going to

244
00:13:34,760 --> 00:13:37,120
Speaker 14: take us through to the midterms in twenty twenty six,

245
00:13:37,520 --> 00:13:40,720
Speaker 14: healthcare subsidies. And so it's really up to the Republicans

246
00:13:40,760 --> 00:13:44,000
Speaker 14: now they know the hand and they can very much

247
00:13:44,040 --> 00:13:46,959
Speaker 14: address the healthcare subody issue in coming months, whether it's

248
00:13:46,960 --> 00:13:49,800
Speaker 14: in that December vote or not, and take it off

249
00:13:50,000 --> 00:13:52,959
Speaker 14: the table for the Democrats as and that would be

250
00:13:52,960 --> 00:13:55,559
Speaker 14: a blow to Democrats. So I would say that if

251
00:13:55,559 --> 00:13:58,880
Speaker 14: the Republicans do not actually make some sort of overture,

252
00:13:59,200 --> 00:14:02,680
Speaker 14: do not extend those subsidies before they are set to lap,

253
00:14:02,920 --> 00:14:06,240
Speaker 14: then it would provide momentum for the Democrats and would

254
00:14:06,320 --> 00:14:10,320
Speaker 14: be detrimental to the Republicans. I think that's the story

255
00:14:10,320 --> 00:14:13,400
Speaker 14: that we'll have a lasting impact and legs more so

256
00:14:13,480 --> 00:14:17,439
Speaker 14: than the fact that those eight Democratic senators caved and

257
00:14:18,360 --> 00:14:21,160
Speaker 14: and did this end of the government shutdown. I don't

258
00:14:21,200 --> 00:14:23,920
Speaker 14: think that anybody really ever thought in the Democratic Party

259
00:14:24,280 --> 00:14:27,880
Speaker 14: leadership that they were going to whip up a sort

260
00:14:27,920 --> 00:14:29,920
Speaker 14: of scenario where these subsidies were going to be dressed

261
00:14:30,000 --> 00:14:32,840
Speaker 14: head on in this exact government, with this funding bill.

262
00:14:34,560 --> 00:14:37,520
Speaker 2: This is Bloomberg day Break, your morning podcast on the

263
00:14:37,600 --> 00:14:41,120
Speaker 2: stories making news from Wall Street to Washington and beyond.

264
00:14:41,360 --> 00:14:43,760
Speaker 3: Look for us on your podcast feed by six am

265
00:14:43,800 --> 00:14:47,200
Speaker 3: Eastern each morning, on Apple, Spotify, or anywhere else you listen.

266
00:14:47,440 --> 00:14:50,280
Speaker 2: You can also listen live each morning starting at five

267
00:14:50,320 --> 00:14:53,040
Speaker 2: am Wall Street Time on Bloomberg eleven three to zero

268
00:14:53,040 --> 00:14:55,920
Speaker 2: in New York, Bloomberg in ninety nine to one in Washington,

269
00:14:56,000 --> 00:14:59,280
Speaker 2: Bloomberg ninety two to nine in Boston, and nationwide on

270
00:14:59,440 --> 00:15:01,680
Speaker 2: serious XM Channel one twenty one.

271
00:15:02,080 --> 00:15:04,840
Speaker 3: Plus listen coast to coast on the Bloomberg Business app

272
00:15:04,880 --> 00:15:07,680
Speaker 3: now with Apple CarPlay and Android auto interfaces.

273
00:15:07,920 --> 00:15:10,920
Speaker 2: And don't forget to subscribe to Bloomberg News Now. It's

274
00:15:10,920 --> 00:15:13,680
Speaker 2: the latest news whenever you want it in five minutes

275
00:15:13,760 --> 00:15:16,880
Speaker 2: or less. Search Bloomberg News Now on your favorite podcast

276
00:15:16,920 --> 00:15:21,080
Speaker 2: platform to stay informed all day long. I'm Karen Moscow.

277
00:15:20,880 --> 00:15:23,400
Speaker 3: And I'm Nathan Hager. Join us again tomorrow morning for

278
00:15:23,440 --> 00:15:25,360
Speaker 3: all the news you need to start your day right

279
00:15:25,400 --> 00:15:26,840
Speaker 3: here on Bloomberg Day Ray