Podcast Summary: "House GOP Sets Up Senate Clash on TSA Funding"

Bloomberg This Weekend
Date: March 28, 2026
Hosts: David Gura, Christina Raffini, Lisa Mateo
Key Guests: Eric Watson (Bloomberg News Congressional Reporter), Jill Dejanovich (TSA worker & union rep), Senators Todd Young (R-IN) & Alyssa Slotkin (D-MI), Bailey Lipschild (Bloomberg Senior Reporter)

Overview of the Episode

This episode tackles the gridlock in Congress over funding the Department of Homeland Security (DHS), with a focus on the recent standoff impacting the TSA and other DHS workers. The hosts interview congressional reporters, TSA staff, and lawmakers to shed light on the deadlock, the real-world impacts at U.S. airports, and the broader implications of recurring shutdowns. The episode also examines the markets’ response to ongoing geopolitical turmoil, the looming SpaceX IPO, and wraps up with the podcast’s signature news quiz segment.

Key Discussion Points & Insights

1. Congressional Gridlock Over DHS Funding

[02:25–07:33]

• Background: Ongoing standoff between House and Senate over DHS funding, especially ICE (Immigration and Customs Enforcement).
• Senate Action: Senate passed a DHS funding bill with an exception (“carve-out”) for ICE/Border Patrol, passed via unanimous voice vote.
• House Response: House Freedom Caucus rejects Senate bill; Speaker Mike Johnson supports their approach, passing a short-term (8-week) funding extension that the Senate calls a non-starter.
  • “It’s an extraordinary breach between House and Senate Republicans.” – Eric Watson, [03:24]
• Impact: Despite a presidential memo ensuring payment for TSA workers, many DHS employees (e.g., Secret Service) still go unpaid; lines worsen at airports, with federal workers as "hostages" to the budget standoff.
  • “This is over 40 days now... workers are going to be held hostage.” – Eric Watson, [04:35]
• Potential Solutions: Talks of using a large budget reconciliation bill to resolve the issue, but consensus among Republicans is lacking; further delay expected with both chambers on recess.

2. Perspectives from Washington and TSA Workers

[05:11–13:21]

• Presidential Role: Trump is seen trying to act as peacemaker between congressional Republicans, though acrimony remains high.
  • “Trump was playing peacemaker between feuding House and Senate Republican leaders, which I’m sure is a role he would enjoy.” – Eric Watson, [05:56]
• TSA Workers’ Reality: Interview with Jill Dejanovich, Las Vegas TSA officer and union representative.
  • Expresses gratitude for back pay but calls the memo a "temporary band-aid" since it does not solve ongoing payroll issues ([07:55]).
  • Outlines deep frustration among TSA staff: “This is the third time that this has happened in five months… we’re just wondering what that means for the future of our agency.” ([08:40])
  • Addresses attrition and morale: High numbers of staff calling in sick or quitting, increased line waits, but confident core safety isn’t compromised—just convenience ([09:23]).
  • Concern about privatization: “I don’t believe that aviation security should ever be a for-profit model… those private screening companies would come in and cut costs… my biggest concern is that they'd be here to make money rather than to actually do the job.” ([12:32])

3. Senate Lawmaker Reactions and Big Picture Questions

[15:59–24:01]

• Senators Young & Slotkin Share Views: Practical exhaustion among members; both call for urgent bipartisan action.
  • “Where we are is exhausted with this issue. We want to come to terms in a bipartisan way. We want to fund TSA. We want our homeland to be more secure.” – Sen. Todd Young, [16:30]
  • Sen. Slotkin calls for broader reform to end repeat shutdown cycles: “We’re the only country I know in the world that just constantly lives in these government shutdowns…” ([17:15])
• Iran Conflict & Supplemental Defense Request: Both senators discuss the war in Iran, lack of clarity on administration strategy, and skepticism over the Pentagon’s reported $200B supplemental funding request.
  • “At the height of the wars in Iraq and Afghanistan…the biggest supplemental we ever approved…was $100 billion. The ask here is $200 billion. So I’m going to open up the hood and look at anything that comes that is that size.” – Sen. Alyssa Slotkin, [21:54]

4. Market Impact & SpaceX IPO

[26:37–33:56]

• Market Turmoil: S&P 500 down 7% over five weeks, NASDAQ in correction territory due to Iran war and U.S. uncertainty.
• SpaceX IPO: Despite volatility, SpaceX is moving toward a potential $75B IPO—largest ever—which could lift market sentiment.
  • “If you are an investor, one thing you hate is uncertainty…and so people either were adding up on bearish hedges or dumping risk assets just given we don’t know what the weekend will bring.” – Bailey Lipschild, [27:24]
• IPO Mechanics & Retail Allocation: SpaceX’s IPO process explained, with up to 30–35% shares possibly allocated to retail investors, an unusually high share for major IPOs.

5. Weekly News Quiz: “Pointed”

[36:41–42:10]

• Format: Hosts bet chips on three categories: Ammunition, Trade, Hoarding. Notable answers include:
  • Slovakia as revitalized arms manufacturer (ammunition)
  • Routers as the FCC’s new focus for imports ban due to cyberattacks
  • Toilet paper as the household staple Japan warned against hoarding
  • Bonus: Epic Games as parent company of Fortnite
• Quiz ends in a tie.

Notable Quotes & Memorable Moments

• "It's an extraordinary breach between House and Senate Republicans." – Eric Watson, [03:24]
• “This is over 40 days now... workers are going to be held hostage.” – Eric Watson, [04:35]
• “This is the third time that this has happened in five months... we’re just wondering what that means for the future of our agency.” – Jill Dejanovich, [08:40]
• “I don’t believe that aviation security should ever be a for-profit model... my biggest concern is that they’d be here to make money rather than to actually do the job.” – Jill Dejanovich, [12:32]
• “Where we are is exhausted with this issue. We want to come to terms in a bipartisan, partisan way. We want to fund TSA. We want our homeland to be more secure.” – Sen. Todd Young, [16:30]
• “We’re the only country I know in the world that just constantly lives in these government shutdowns and allows people who are protecting us to be at the mercy of these political conversations.” – Sen. Alyssa Slotkin, [17:15]
• “If you are an investor, one thing you hate is uncertainty…and so people either were adding up on bearish hedges or dumping risk assets just given we don’t know what the weekend will bring.” – Bailey Lipschild, [27:24]

Timestamps for Important Segments

• Congress and DHS Funding Standoff: [02:25–07:33]
• TSA Worker Union Perspective: [07:37–13:21]
• Senate Reactions and Iran Discussion: [15:59–24:01]
• Market Update & SpaceX IPO: [26:37–33:56]
• Weekly News Quiz (“Pointed”): [36:41–42:10]

Tone & Style

The episode combines urgency and frustration regarding the congressional standoff with moments of levity—especially in-ground reports and the quiz segment. Direct, informative, and at times wry, the hosts maintain a sense of engagement while addressing the seriousness of stalled government funding and its impacts on both national security and everyday Americans.