Bloomberg Talks: Senator Bill Cassidy on Black Friday Spending & Healthcare

Date: December 1, 2025
Host: Bloomberg
Guest: Senator Bill Cassidy (Louisiana, R)

Episode Overview

This episode tackles the contrast between Americans’ robust Black Friday spending and persistent struggles with cost of living. Senator Bill Cassidy joins to discuss the economic pressures facing diverse segments of the population, government roles in supporting lower-income consumers, healthcare affordability—particularly looming changes to ACA premium subsidies—and broader issues like job creation and the impact of AI on the workforce. The conversation flows from current economic challenges into policy proposals and the legislative path forward.

Key Discussion Points & Insights

1. Contradictions in Consumer Spending & Cost of Living

• Host (00:29): Opens by asking Cassidy how to explain strong Black Friday consumer spending, despite widespread concerns over affordability.
• Cassidy (00:56): Points to a "K-shaped" economy:
  • “There’s a group of people who are still managing to do well. There's another group of people who are really hurting... The increasing cost of insurance... as well as the increasing cost of groceries.”
  • Emphasizes the uneven impact: while some can spend on gifts, many face rising essential costs.

2. Government’s Role in Supporting Lower-Income Consumers

• Host (01:20): Asks about the government's fiscal responsibility in supporting struggling populations.
• Cassidy (01:44): Highlights “the tax cut for working families” in recent legislation:
  • No tax on overtime and tips for seniors.
  • Eliminates tax on most Social Security payments.
  • Pro-business incentives to encourage domestic manufacturing.
  • Stresses infrastructure investment: “Infrastructure creates jobs. I cannot swing a hammer. And so it's not swinging in a hammer. Those folks are being employed.”

3. Healthcare Affordability & ACA Premium Subsidies

• Reporter (02:25): Raises concerns about expiring enhanced ACA premiums.

• Cassidy (02:40): Proposes shifting subsidies:

  • Take enhanced premium tax credits from insurers to individuals’ Health Savings Accounts (HSAs): “Instead of giving it to insurance companies... we give 100% to the patient in the form of a deposit within a healthcare savings account.”
  • Patients can select cheaper plans and have “first dollar coverage” for some costs.
  • “If you give power to the patient, you can lower healthcare costs. So we’re giving power to the patient, not profit to the insurance company.”

• Reporter (03:28): Asks about Democratic support (noting opposition).

• Cassidy (03:36): Argues his plan amounts to an extension but routes dollars directly to individuals:

  • “Instead of giving 100% to insurance companies... We’re [giving] 100% to the patient.”

4. Potential for Government Shutdown Linked to Healthcare Debate

• Host (04:50): Asks if Cassidy’s plan could avert a government shutdown over healthcare funding.
• Cassidy (04:57): Confident: “Because we’ve addressed affordability... we begin to address the overall increase in health care cost. When you give that woman... the power of the purse... everybody begins to lower their cost.”

5. Fostering Job Creation; The Role of Business Policy

• Host (05:20): Asks what policies would help lower-income earners, noting the patchy results of existing initiatives.
• Cassidy (05:43): Advocates reshoring via tax policy and tariffs:
  • “When you reshore, you're going to create jobs... That's going to happen... jobs for construction, for service, all those jobs... and that’ll cause a general boom.”

6. Technology, AI & the Future of Work

• Host (06:18): Raises concerns that AI may displace workers instead of creating jobs.
• Cassidy (06:49): Is optimistic:
  • “If you've got something that’s going to increase productivity... [it] will increase tax revenue not by increasing rates, but by increasing the overall growth of the economy.”
  • Positions infrastructure and energy industries as “AI-proof” job creators: “AI does not swing a hammer.”

7. Direct Economic Aid vs. Fiscal Responsibility

• Reporter (07:35): Asks if direct $2,000 checks (as floated by the President) would help Americans with affordability.
• Cassidy (07:59): Cautions against inflationary risks and rising deficits:
  • “If you give everybody a $2,000 check, does that bump up inflation and therefore the Fed is inhibited on lowering their rates?”
  • Suggests reducing debt might be more effective in creating lasting affordability through lower interest rates.

8. Federal Reserve Leadership & Independence

• Reporter (08:45): Inquires about potential support for Kevin Hassett as Fed Chair.

• Cassidy (09:04):

  • Praises Hassett's credentials, but preserves judgment until hearings.
  • “We are having this problem of inflation, which just is a little bit sticky and yet we want to decrease rates. How are you going to navigate that?”

• Host (09:25): Asks about importance of Fed independence.

• Cassidy (09:28): “Fed independence is critical… Kevin would step up and be as aware of the importance of Fed independence as anybody.”

9. The Looming ACA Subsidy Fight and Potential Government Shutdown

• Post-interview Recap (09:53):
  • Highlights the critical December debate over ACA credits.
  • Notes the shutdown threat: “...for Democrats, this is really important... because this is what the entire shutdown, longest shutdown history was based around.”

Notable Quotes & Memorable Moments

• On Economic Divide:
  “There's a group of people who are still managing to do well. There's another group of people who are really hurting...”
  —Sen. Bill Cassidy, (00:56)

• On Healthcare Funding:
  “If you give power to the patient, you can lower healthcare costs. So we’re giving power to the patient, not profit to the insurance company.”
  —Sen. Bill Cassidy, (03:10)

• On AI and Jobs:
  “AI does not swing a hammer... That will just shift investment to a more productive area of the economy.”
  —Sen. Bill Cassidy, (06:52)

• On Direct Economic Aid vs. Deficit:
  “If you give everybody a $2,000 check, does that bump up inflation and therefore the Fed is inhibited on lowering their rates?”
  —Sen. Bill Cassidy, (08:13)

Timestamps for Key Segments

• 00:29 — 01:20: Contradictions in spending vs. affordability
• 01:20 — 02:25: Government’s fiscal role, tax cuts & jobs
• 02:25 — 04:50: Healthcare affordability, ACA premium subsidy debate
• 04:50 — 05:20: Potential government shutdown over healthcare funding
• 05:20 — 06:18: Job creation, business incentives, reshoring
• 06:18 — 07:35: Technology, AI impact, future of work
• 07:35 — 08:40: Direct economic aid ($2,000 checks) and inflation risk
• 08:45 — 09:37: Fed Chair nomination and central bank independence
• 09:53 — end: ACA subsidy fight and government shutdown stakes

Summary Tone and Takeaways

The conversation is pragmatic, with Senator Cassidy combining policy advocacy (especially for HSA-driven healthcare reform) with candid discussion about fiscal constraints and labor market disruption. He’s optimistic about the productivity-boosting potential of technology and reshoring, but insists on policy interventions that direct more value straight to individuals—especially in healthcare. The episode underscores deep partisan divides on how best to extend health insurance affordability, foreshadowing an intense showdown in Congress with real economic and political stakes.