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Thune and Johnson on if they take any responsibility for the government shutdown · DEEP INSIGHT

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  Speaker 1: House Speaker Mike Johnson and Senate Majority Leader John Thune
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  Speaker 1: are speaking out on day three of the government shut down. Today,
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  Speaker 1: the two top Republican leaders. They held a press conference
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  Speaker 1: just hours ahead of a crucial vote in the Senate
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  Speaker 1: to reopen federal doors. All eyes will be on lawmakers
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  Speaker 1: to see if Bacon actually advance a Democratic short term
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  Speaker 1: funding bill and a Republican House passed bill to keep
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  Speaker 1: the lights on. Here's how Speaker Mike Johnson on that.
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  Speaker 2: We sent over a continuing clean resolution. This is standard
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  Speaker 2: practice around here. And all the Democrats who are voting
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  Speaker 2: against it in the Senate right now, every single one
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  Speaker 2: of them have given impassioned speeches about how you must
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  Speaker 2: pass continued resolutions, you must pass crs, you should never
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  Speaker 2: shut down the government because it's dangerous and destructive and
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  Speaker 2: selfish and wrong. Well, suddenly they've changed their tune. We're playing.
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  Speaker 2: I invite you all after the press conference to go
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  Speaker 2: by the Speaker's office in the hallway there and you
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  Speaker 2: can see the highlight reel of all of them sameness
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  Speaker 2: Passionately as recently as March of this last next year,
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  Speaker 2: when Chuck Schumer led his caucus to vote for the
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  Speaker 2: same cr they did it thirteen times during the Biden
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  Speaker 2: administration in the previous four years, but suddenly they won't
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  Speaker 2: do it.
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  Speaker 1: All right, Let's go live to the Capitol and CBS
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  Speaker 1: News Congressional correspondent Nicole Killian. Nicole, any indication that we'll
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  Speaker 1: actually see a breakthrough during this vote later today?
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  Speaker 3: Yeah, well, I think as you heard from the Speaker.
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  Speaker 3: I mean, look, you know, at this point, Republican leaders
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  Speaker 3: feel that the ball is in Democrats court in terms
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  Speaker 3: of trying to support that bill that Speaker Johnson reference
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  Speaker 3: that passed his chamber. That's just a clean extension of
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  Speaker 3: government funding. But I asked both him and Leaderthoon about
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  Speaker 3: their roles in this shutdown fight. Take a listen, do
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  Speaker 3: you take any responsibility for what's happening? And what is
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  Speaker 3: the justification for not holding votes in your chamber this
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  Speaker 3: week and potentially yours this weekend? When there are some
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  Speaker 3: five partisan conversations happening in the Senate. Why not just
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  Speaker 3: stay here and work this out.
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  Speaker 2: I'll give you my quick answer. You have the leader,
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  Speaker 2: but my quick answer is very simple. The House did
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  Speaker 2: its job. The House did sent a by partisan very simple,
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  Speaker 2: very conventional twenty four pages continuous resolution to keep the
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  Speaker 2: lights on, and it's been and we sent it over,
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  Speaker 2: we passed it, and it's been rejected by the Senate.
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  Speaker 4: We're going to shut down posture here because of Senate Democrats.
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  Speaker 4: There is united support House Republicans, Senate Republicans, a few
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  Speaker 4: Senate Democrats, the President of the United States in support
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  Speaker 4: of keeping or opening the government back up. And right
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  Speaker 4: now it's being blocked by the Senate Democrats. And all
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  Speaker 4: it takes is you point out, is a handful more
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  Speaker 4: we get four or five more votes and we can
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  Speaker 4: actually pass this thing. And there are discussions going on
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  Speaker 4: with our colleagues on both sides of the aisle, but
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  Speaker 4: at some point they have to take yes for an answer.
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  Speaker 4: I mean, the things that people want, and I don't
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  Speaker 4: disagree with this at all. Is a normal appropriations process,
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  Speaker 4: putting bills on the floor, getting conference passed bills on
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  Speaker 4: the floor of the House and Senate, so we can
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  Speaker 4: actually fund the government the old fashioned way. And I'm
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  Speaker 4: all for that, and we've made that very clear to them.
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  Speaker 3: Now. In terms of some of those bipartisan discussions, I
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  Speaker 3: did talk to one Democratic senator who has been involved
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  Speaker 3: in some of those talks that we saw earlier this
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  Speaker 3: week on the Senate floor. The senator did not indicate
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  Speaker 3: how they might vote later today with respect to these
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  Speaker 3: procedural votes around government funding, but they were encouraged by
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  Speaker 3: the direction that these talks are going, even though we
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  Speaker 3: have yet to see any kind of firm agreement. Of course,
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  Speaker 3: Democrats have been pressing for this extension of subsidies around
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  Speaker 3: the Affordable Care Act, which are due to expire at
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  Speaker 3: the end of the year. They want some guarantees around that,
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  Speaker 3: as well as other issues related to healthcare, in order
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  Speaker 3: to be able to support government funding going forward. So
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  Speaker 3: you know, I am told that some of those discussions
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  Speaker 3: are expected to continue throughout the weekend, even if senators
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  Speaker 3: end up going home should this vote later today fail.
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  Speaker 1: Okay, Nicole kellyon on Capitol Hill for us today, Thank you,
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  Speaker 1: and now let's bring in CBS News Money Watch correspondent
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  Speaker 1: Kelly O. Grady with the economic side of this shutdown,
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  Speaker 1: because Kelly, we were supposed to get a new jobs
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  Speaker 1: report this morning that is now delayed. What is the
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  Speaker 1: economic concern if this shutdown continues.
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  Speaker 5: So there's a couple of different things Mugo of how
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  Speaker 5: I would think about this. Obviously, you have the very
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  Speaker 5: obvious financial situation play of the federal worker that is
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  Speaker 5: either laid off and gets that back pay eventually or
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  Speaker 5: potentially is even fired. And when that person is having
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  Speaker 5: to dip into their savings, they're having to maybe not
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  Speaker 5: pay rent, miss a credit card payment, they're not out
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  Speaker 5: spending that money that they traditionally would. And remember GDP
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  Speaker 5: is two thirds consumer spending, so that's part of it.
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  Speaker 5: Another part would be more of the consumer angle you
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  Speaker 5: and me. Maybe someone has a federal backed mortgage and
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  Speaker 5: they live in a particular area that's impacted by flooding
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  Speaker 5: or by hurricanes. They are required by law for that
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  Speaker 5: federal backed mortgage to get a application at the National
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  Speaker 5: Flood Insurance Program. Right now, that is not happening right
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  Speaker 5: because the government is shut down, and so you're delaying
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  Speaker 5: some of these transactions, the spending that creates economic growth.
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  Speaker 5: And then the final thing you mentioned the jobs report.
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  Speaker 5: Normally I'm at the New York Stock Exchange talking to
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  Speaker 5: you about the numbers, how investors are reacting. That's one
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  Speaker 5: part of it. But when you don't have that data,
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  Speaker 5: when you don't have potentially in a week and a
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  Speaker 5: half the inflation data that the Bureau of Labor Statistics
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  Speaker 5: is expected to release. When the Federal Reserve when they
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  Speaker 5: meet at the end of this month, and they don't
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  Speaker 5: have the traditional sources of information that they rely on,
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  Speaker 5: they could be more cautious in terms of how they
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  Speaker 5: approach interest rates. And we know from the last Federal
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  Speaker 5: Reserve meeting there was a lot of division amongst folks
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  Speaker 5: of how they should treat interest rates going forward. Do
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  Speaker 5: you prioritize the labor market and the weakness that we've seen,
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  Speaker 5: or do you prioritize the rising prices partly because of tariffs.
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  Speaker 5: And so I bring that up as an economic concern
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  Speaker 5: because it's not just about Okay, how the Federal Reserve
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  Speaker 5: is going to decide. That cascades down to your mortgage rates,
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  Speaker 5: your auto loans, your small business loans, and at the
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  Speaker 5: heart of it, when small businesses, when consumers are able
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  Speaker 5: to borrow money for cheaper, that often does lead to
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  Speaker 5: more economic activity. And if you have a more cautious
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  Speaker 5: Federal Reserve, maybe an interest rate cut that doesn't happen,
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  Speaker 5: then you would see less economic activity potentially move up.
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  Speaker 1: A lot to keep our eyes on. Kelley O. Grady,
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  Speaker 1: thank you so much for that breakdown.