Balance of Power Podcast Summary

Episode: Speaker Johnson Rejects Health-Subsidy Vote
Date: December 16, 2025
Hosts: Joe Weisenthal (Bloomberg), Panelists: Jeannie Shan Zaino, Maura Gillespie
Notable Guests: Rep. Jason Smith (R-MO, Chair, House Ways and Means), Mike McGlone (Bloomberg Intelligence), Jane Harman (fmr. Rep., D-CA)

Episode Overview

This episode of Bloomberg’s Balance of Power delves into two main stories dominating Washington:

1. The fallout from a bombshell Vanity Fair profile of Susie Wiles, President Trump's second-term Chief of Staff, which contains blunt assessments of key administration figures and controversial topics.
2. House Speaker Mike Johnson’s rejection of a vote to extend Obamacare premium subsidies, the Republican pivot on health care policy, and impending legislative deadlines.

The show combines insider panel discussion, interviews with lawmakers and experts, and real-time reaction to breaking news, including the announcement of a rare primetime national address by President Trump.

Key Discussion Points & Insights

1. Susie Wiles Vanity Fair Interview Fallout

Main story: Newly published, unusually candid comments by Chief of Staff Susie Wiles spark a political firestorm.

• Background & What Happened

  • Susie Wiles, Trump’s close ally and the first female White House Chief of Staff, granted a year of access to Vanity Fair’s Chris Whipple, resulting in a profile featuring stark criticism and behind-the-scenes anecdotes (00:56–09:30).
  • Wiles is quoted as referencing Trump’s association with Jeffrey Epstein, characterizing Trump and Epstein as once being “sort of young, single playboys together.” She insists Trump’s name in the Epstein files does not imply wrongdoing (01:36–02:36).
  • The profile portrays internal chaos, Wiles’ candid views on colleagues (“alcoholic personality” for Trump, “conspiracy theorist” for VP), Elon Musk’s influence (“microdosing”), and policy rationale (Venezuela intervention as a regime change play) (09:03–10:30).

• Reactions & Analysis

  • Jeannie Shan Zaino: “This reads to me like a burn book, and it’s fascinating. And we thought Epstein was going to be our week. And now Susie Wiles delivering.” (05:39)
  • Wiles has since pushed back, calling the article “a disingenuously framed hit piece,” but doesn’t deny the quotes, saying they were “taken out of context” (03:44, 05:47).
  • Maura Gillespie on Wiles’ motivation: “She has been behind the scenes… and maybe she thought that this was her way to tell her side of things… to play a more pivotal role…” (07:59)

• Why This Matters

  • Raises questions about message control in the Trump White House, the perils and temptations of granting media access, and Wiles’ personal legacy.
  • The story shifts focus from expected topics (e.g., Epstein files release) to White House dysfunction.

Notable Quotes

• “Chris Whipple is the new Bob Woodward. Every administration, we say, why did he talk to Bob Woodward?... This reads to me like a burn book.”
  —Jeannie Shan Zaino [05:29]
• “[Wiles describes Trump] as having an alcoholic personality. …Elon Musk, the world's wealthiest man, taking drugs, sleeping in sleeping bags in the White House, the vice president, a conspiracy theorist...”
  —Jeannie Shan Zaino [09:07]
• “I think we look at it as disorienting. …Susie Wiles is well beloved…supposed to be the grown up in this White House… and all the while…giving interviews that were not secret…”
  —Jeannie Shan Zaino [09:03]

2. Health Care Showdown in the House

Main story: Speaker Johnson blocks a vote on extending Obamacare (ACA) premium subsidies, opting for a Republican alternative plan.

• Context & Developments

  • With only four legislative days left in the year, House GOP leadership resists Democratic and moderate GOP calls for a vote on the popular ACA premium tax credits, whose lapse would trigger spikes in health insurance costs and risk a “mini-shutdown” repeat (13:02–15:11).
  • Rep. Jason Smith outlines the House Republican approach: focus on lowering costs for all Americans—not just those on ACA exchanges—via reforms such as PBM transparency and choice accounts (14:13–15:11, 17:02–17:32).

• Arguments For & Against the GOP Approach

  • Smith frames ACA as affecting a minority (“7% of the population”), citing fraud and automatic enrollment abuses:
    “The GAO report said 59,000 dead people were being subsidized... One Social Security number had 127 different policies... Of the 24 million people on the exchanges, nearly 12 million never even filed a medical claim.” [15:35]
  • GOP faces dissent from moderates (Mike Lawler: calling refusal to vote “idiotic” [15:11]), as the ACA subsidies remain popular.

• Broader Legislative Implications

  • Failure to pass an extension would disrupt coverage for millions, with potential electoral fallout.
  • Smith insists most in his poor Missouri district are covered or would “have generous subsidies.”

• Upcoming Votes & Political Stakes

  • House may see a Republican plan up for a vote as soon as Dec. 17 (20:06).
  • There’s ongoing concern about another government shutdown (“funding problem again at the end of January”), hampered by partisanship and “obstruction” (21:25–22:44).

Notable Quotes

• “We need to lower the cost of health care for every single American, not just the people on ACA.”
  —Rep. Jason Smith [17:02]
• “We've had bipartisan markups... nine bills last week …347 yes votes and 19 no votes over 19 bills... but the obstruction has been real... the Democrats have learned from their lesson that they're not going to shut down government like what they did last time.”
  —Rep. Jason Smith [21:25]
• “Some thought [the vote on ACA subsidies] would be the case in the form of an amendment…moderate lawmakers will not be voting on the Obamacare premium subsidies before the end of the year…”
  —Joe Weisenthal [13:02]

3. Breaking News: Trump Announces National Address

• During the show, President Trump posts on Truth Social that he will deliver a national address, live from the White House, Dec. 17 at 9 pm ET (18:14, 24:07).
• Uncertainty about the topic—possible announcements on health care, economy, or Federal Reserve.

4. Energy Markets, Economy & Geopolitics

Commodity Trends (25:45–29:31)

• Mike McGlone: Oil hits a yearly low ($55), predicted heading lower (“more likely to be towards 40 next year than above 70”) due to supply glut, superabundance, and softening demand.
• Natural gas, corn, soybeans, wheat—all down. US is now a net exporter.
• Bitcoin and crypto: “Clearly in a bear market,” acting as predictors for risk-asset appetite.

Notable Quotes

• “Superabundance is just a great book… It shows that when you have humans like us who create more with less every day… the price continues decline in crude oil, corn, soybeans, wheat, natural gas.”
  —Mike McGlone [26:23]

Foreign Policy Flashpoints

• Release of double tap strike video off Venezuela: The Pentagon refuses to release it, despite Trump’s prior suggestion he’d be open to it (30:31–31:07).
• Jane Harman: Critiques lack of clear US strategy on ISIS; worries proposed Venezuela strikes are “declaring war” and “not for regime change,” questioning US objectives (31:07–36:02).

Notable Quotes

• “We need a much better strategy worldwide against the rise of radical Islamic groups.”
  —Jane Harman [32:28]
• “I don't think we should attack [Syria]. I think we should have a counter ISIS strategy which includes Syria. ...Bombing…probably promote ISIS rather than hurt ISIS.”
  —Jane Harman [33:09]

5. Closing Reflections & Looking Ahead

• Harman: Republicans' incremental health care solutions are “sounding more sensible now, but an ACA extension seems to me the easiest thing we could do,” warning that millions may be affected—and that political blowback could ensue in 2026 if nothing passes (36:20).

Timestamps of Key Segments

| Time | Segment & Speaker(s) | |-----------|---------------------------------------------------------------------| | 00:56–09:30 | Susie Wiles Vanity Fair profile fallout – Weisenthal, Zaino, Gillespie | | 13:02–22:44 | Health care fight in House: ACA subsidies vs. GOP plan – Weisenthal, Rep. Smith | | 18:14, 24:07 | Trump announces national address (real-time news) – Weisenthal | | 25:45–29:31 | Oil, natural gas, and crypto trends – Mike McGlone | | 30:31–36:02 | Pentagon Venezuela strike video; US terrorism strategy – Jane Harman | | 36:20 | Harman’s closing reflection on political stakes |

Memorable Moments & Final Thoughts

• The panel’s Mean Girls “burn book” analogy for the Susie Wiles interview set a gossipy, candid tone unusual even for Washington.
• Rep. Jason Smith repeatedly hammers the talking point that ACA subsidies target a sliver (“7%”) of Americans, sidestepping broader coverage concerns.
• Jane Harman’s warnings about terrorism risk and skepticism of Trump’s Venezuela plans: “The rise of terrorism…should concern us much more than it does, and our focus should be worldwide on finding ways…to combat it.” [35:05]
• The real-time revelation of Trump’s primetime address brings a dose of live drama and signals the episode’s relevance.

Summary Takeaway

This episode spotlights the intersecting themes of media control, policy transparency, and the quick-shifting sands of Washington power. From the chaos surrounding Susie Wiles’ Vanity Fair revelations to the brinkmanship over health care subsidies and foreign crises, Balance of Power offers a vivid snapshot of the volatile end-of-year mood in national politics. The stakes—millions’ health coverage, geopolitical stability, and the political fortunes of the White House—are all very much in the balance.