Business Confidence - German business confidence unexpectedly dipped in November [1] Economic Outlook - Fresh sign of the challenge to overcome stagnation [1] Government Policy - Government ramps up spending [1]

Government Spending - The UK government lacks precise data on its expenditure on consultants [1] - This lack of data persists despite efforts to reduce spending on external advisors [1]

Financial Impact - French tax break cost the government over €55 billion (550 亿欧元) last year [1]

Financial Liabilities - The US borrowed and spent over $8 trillion, which is now worth $0 [1] - This resulted in a $400 billion annual Veteran's Affairs bill that grows approximately 2x tax receipts [1] Analogy - The situation is analogous to a company borrowing $8 trillion to buy an asset that becomes worthless [1] - The company is then left with a $400 billion/year asbestos liability that grows 5-10% annually [1]

Public Finance - Spain's central bank recommends lowering spending to reduce public debt [1] - Public debt exceeds 100% of Spain's economic output [1]

Government Shutdown Impact - The shutdown cost the country $0.5 trillion [1] - 20,000 flights were canceled or delayed due to the shutdown [4] - Over 1 million government workers were deprived of their paychecks [5] - Food stamp benefits were cut off for millions of Americans [5] - Tens of thousands of federal contractors and small businesses went unpaid [6] Political Stance - Republicans voted 15 times for a clean continuation of funding [1] - Democrats insisted on creating the longest government shutdown in American history for political reasons [2] - The speaker calls for a termination to the filibuster to prevent future shutdowns [6] Key Supporters - The speaker thanks Speaker Mike Johnson, Senate Majority Leader John Thune, House Majority Leader Steve Scalise, and Majority Whip Tom Emmer [3] - The speaker thanks the Teamsters, the American Federation of Government Employees, the Fraternal Order of Police, the National Small Business Association, the American Farm Bureau, and the American Trucking Association [3] - The speaker thanks Airlines for America, the Allied Pilots Association, and the National Air Traffic Controllers Association [4]

Government Spending & Climate Change - Most governments lack a clear understanding of their climate change expenditure [1] - Governments are ill-prepared to manage the escalating impacts of climate change [1]

Government Shutdown Resolution - A spending package passed the Senate to end the record-long government shutdown [1] - The Republican-led Senate needed Democratic votes to pass the measure [1]

The Senate passing legislation to end the government shutdown with support from a handful of Democrats. The bill now heading to the Republican controlled House. Joining us now is Bloomberg's Mike Shepard.Shep, just walk us through the progress we've made in the last 24 hours and the sequence of things over the next 24 hours. Well, we saw the Senate reach a breakthrough last night, Jon, with the chamber voting 60-40 to pass this interim spending measure that will keep most of the government open at least thr ...

Debt Situation - US national debt is currently $37 trillion [1] - Net interest payments are $900 billion per year, representing the second largest federal expenditure [1] - The government will spend 40% more than it takes in this year [2] - The debt is about six times the amount of money the government takes in [2] Debt Management - The government needs to come up with $12 trillion next year, essentially debt it has to sell [2] - $1 trillion, about half of the budget deficit, goes to interest [3] - $9 trillion of debt needs to be rolled forward as it's maturing [3] - An additional $2 trillion of debt will be sold [3]