1
00:00:00,320 --> 00:00:03,040
Speaker 1: Live from our Nations came this budget thing is going

2
00:00:03,080 --> 00:00:05,520
Speaker 1: to do nothing Space Forces. I still think it's interesting.

3
00:00:05,559 --> 00:00:09,639
Speaker 1: President Trump not playing his cards yet headlines Policy and Politics,

4
00:00:09,680 --> 00:00:15,320
Speaker 1: coliding sound on with Kevin's Related The Insiders the Influencers insides,

5
00:00:15,440 --> 00:00:17,680
Speaker 1: I would rather see a congressional solution. It's part of

6
00:00:17,680 --> 00:00:20,560
Speaker 1: my DNA to the Senate map in looks a lot

7
00:00:20,560 --> 00:00:23,239
Speaker 1: different than it looked in. You really have a divide

8
00:00:23,400 --> 00:00:26,160
Speaker 1: within Team Trump. The President has to do exactly what

9
00:00:26,200 --> 00:00:27,800
Speaker 1: people send him here to do, which is to get

10
00:00:27,840 --> 00:00:31,640
Speaker 1: it done. He's sound on with Kevin's Your Relate on

11
00:00:31,720 --> 00:00:37,240
Speaker 1: Bloomberg one and one, m h D two Boltimore Friday News,

12
00:00:37,360 --> 00:00:41,760
Speaker 1: Dumb Friday News Dump. President Trump says there is a

13
00:00:41,880 --> 00:00:49,160
Speaker 1: quote unquote good chance of a deal with Mexico. This

14
00:00:49,479 --> 00:00:53,440
Speaker 1: as the tariff deadline is looming. President Trump threatening to

15
00:00:53,560 --> 00:00:58,240
Speaker 1: increase those tariffs on Monday. On Monday, according to the

16
00:00:58,240 --> 00:01:02,240
Speaker 1: Bloomberg Terminal Report, with John wind Grove doing that report,

17
00:01:02,560 --> 00:01:05,120
Speaker 1: President Trump says, if we are able to make a

18
00:01:05,200 --> 00:01:07,520
Speaker 1: deal with Mexico, and there is a good chance that

19
00:01:07,600 --> 00:01:11,600
Speaker 1: we will, they will begin purchasing farm and agricultural products

20
00:01:11,840 --> 00:01:15,600
Speaker 1: at very high levels, starting immediately. But if there's no deal,

21
00:01:15,959 --> 00:01:18,800
Speaker 1: the Mexico will begin paying tariffs at the five percent

22
00:01:19,040 --> 00:01:24,080
Speaker 1: level on Monday. Meanwhile, Jobs Report, Jobs Day, what does

23
00:01:24,080 --> 00:01:25,840
Speaker 1: it mean. We've got Maddie Dupler in the House. She's

24
00:01:25,840 --> 00:01:28,160
Speaker 1: gonna walk us through what many are saying was a

25
00:01:28,160 --> 00:01:31,959
Speaker 1: bit of a disappointing Jobs Day number, and we will

26
00:01:32,040 --> 00:01:34,680
Speaker 1: check in on that, particularly with what that means as

27
00:01:34,720 --> 00:01:40,280
Speaker 1: President Trump begins that bet on the economy. We're also

28
00:01:40,319 --> 00:01:43,680
Speaker 1: going to check in with Joel Paine. He's a Democratic strategist.

29
00:01:43,680 --> 00:01:46,640
Speaker 1: He's the former director of African American Media Outreach for

30
00:01:46,680 --> 00:01:50,440
Speaker 1: the Hillary Clinton campaign. He's also the former deputy National

31
00:01:50,480 --> 00:01:54,640
Speaker 1: Press secretary for former Senate Majority Leader Harry Reid. Making

32
00:01:54,720 --> 00:01:59,840
Speaker 1: his debut on Bloomberg Radios Sound On, and Montana Governor

33
00:02:00,080 --> 00:02:04,320
Speaker 1: Steve Bullock, Democratic presidential candidate, he checks in with us.

34
00:02:04,560 --> 00:02:08,080
Speaker 1: And we've also got a special guest from the State Department.

35
00:02:08,080 --> 00:02:10,200
Speaker 1: We're going to hear from Robert Strayer. He's the State

36
00:02:10,200 --> 00:02:16,080
Speaker 1: Department's Deputy Assistant Secretary for cyber and International Communications and

37
00:02:16,120 --> 00:02:18,680
Speaker 1: Information and Policy. So a busy, busy day, We've got

38
00:02:18,680 --> 00:02:22,000
Speaker 1: the governor about to call in. According to the Labor Department,

39
00:02:22,080 --> 00:02:26,760
Speaker 1: on Friday, employers added only seventy five thousand jobs to

40
00:02:26,880 --> 00:02:30,480
Speaker 1: the month of May. This as the President continues to

41
00:02:31,080 --> 00:02:35,040
Speaker 1: bank his message on the election on a strong economy.

42
00:02:35,280 --> 00:02:38,440
Speaker 1: We are going to dissect that number every which way

43
00:02:38,560 --> 00:02:42,120
Speaker 1: throughout this show and the politics and the policies of that,

44
00:02:42,280 --> 00:02:46,000
Speaker 1: particularly as the twenty election race heats up, but also

45
00:02:46,480 --> 00:02:49,239
Speaker 1: these U S. China trade talks and US U S

46
00:02:49,360 --> 00:02:52,160
Speaker 1: m c A trade talks as well. Joining us though,

47
00:02:52,200 --> 00:02:54,880
Speaker 1: to kick things off on the phone line, is Montana

48
00:02:54,919 --> 00:02:59,000
Speaker 1: Governor Steve Bullock. He is a Democrat presidential candidate. I

49
00:02:59,040 --> 00:03:00,880
Speaker 1: want to talk to the ECO to me, Governor, and

50
00:03:00,919 --> 00:03:03,120
Speaker 1: I appreciate your time, but I do want to get

51
00:03:03,160 --> 00:03:08,639
Speaker 1: into this issue with the democratic h first Democratic presidential

52
00:03:08,680 --> 00:03:11,480
Speaker 1: debate down in Miami, and we're just a few weeks

53
00:03:11,520 --> 00:03:13,720
Speaker 1: away from that. And my understanding is that is that

54
00:03:13,760 --> 00:03:15,760
Speaker 1: you have not been invited to attend. Can you get

55
00:03:15,800 --> 00:03:18,400
Speaker 1: that worked out? Can you get that worked out of

56
00:03:20,040 --> 00:03:21,880
Speaker 1: no laughing matter, are you gonna be on the stage

57
00:03:21,960 --> 00:03:25,840
Speaker 1: or not? Well, Kevin, if all of your listeners got

58
00:03:25,840 --> 00:03:28,560
Speaker 1: his people dot com, I'll get on there for sure.

59
00:03:28,720 --> 00:03:31,480
Speaker 1: But look, yeah, just yes day the announced that UH

60
00:03:31,960 --> 00:03:35,720
Speaker 1: one of the qualifying debates are one of the qualifying

61
00:03:35,800 --> 00:03:41,400
Speaker 1: polls wouldn't count. So look, you know, from the perspective

62
00:03:41,640 --> 00:03:44,320
Speaker 1: of I only got in this race a few weeks ago,

63
00:03:44,440 --> 00:03:46,440
Speaker 1: but that's I'm a governor had a job to do.

64
00:03:47,120 --> 00:03:50,520
Speaker 1: I had to get my legislature to we authorize Medicaid expansion,

65
00:03:50,920 --> 00:03:55,160
Speaker 1: and um, we did that. We did record investments in education.

66
00:03:55,440 --> 00:03:59,400
Speaker 1: And if it's about either campaigning for a hundred thousand

67
00:03:59,400 --> 00:04:03,120
Speaker 1: donors or securing health care for a hundred thousand people,

68
00:04:03,400 --> 00:04:07,080
Speaker 1: that's the easiest decision I'll ever make at the end

69
00:04:07,120 --> 00:04:08,960
Speaker 1: of the day that I'm on there, but we got

70
00:04:08,960 --> 00:04:10,960
Speaker 1: to see where it goes. But how do you get on?

71
00:04:11,080 --> 00:04:13,160
Speaker 1: I mean, seriously, a lot of people are running into

72
00:04:13,160 --> 00:04:15,640
Speaker 1: this blind. They just know that everybody's running for president.

73
00:04:15,720 --> 00:04:18,440
Speaker 1: They don't know how the candidates get on the stage.

74
00:04:18,440 --> 00:04:20,599
Speaker 1: So procedurally, break it down for us, how do you

75
00:04:20,600 --> 00:04:24,400
Speaker 1: get on the stage. Yeah, And the rules to date

76
00:04:24,480 --> 00:04:29,040
Speaker 1: have been to get either one percent or greater in

77
00:04:29,560 --> 00:04:33,640
Speaker 1: three qualifying polls. And that's you know, certain companies that

78
00:04:33,720 --> 00:04:37,000
Speaker 1: do it, like the Washington Post or a number of

79
00:04:37,040 --> 00:04:43,360
Speaker 1: donors thirty five thousand individual donors, and even without announcing

80
00:04:43,600 --> 00:04:48,800
Speaker 1: they've been three different polls that have said that I

81
00:04:48,800 --> 00:04:51,960
Speaker 1: could hit it. But d NC just yesterday announced here's

82
00:04:51,960 --> 00:04:54,400
Speaker 1: who's going to be on the stage, didn't include me

83
00:04:54,480 --> 00:04:56,720
Speaker 1: saying that one of the Washington Post polls are not

84
00:04:56,760 --> 00:04:59,200
Speaker 1: going to count. So it's either that are getting all

85
00:04:59,240 --> 00:05:02,440
Speaker 1: the donors and um, you know, I just got into

86
00:05:02,440 --> 00:05:03,800
Speaker 1: this and not that long ago, so we have to

87
00:05:03,880 --> 00:05:07,920
Speaker 1: hit the donor numbers. Alright. Alright, So moving on to policy.

88
00:05:08,000 --> 00:05:10,280
Speaker 1: I mean, we get this job's report out today, seventy

89
00:05:11,000 --> 00:05:14,000
Speaker 1: jobs added in the month of May. This is uh,

90
00:05:14,080 --> 00:05:15,400
Speaker 1: you know, I mean what do you make of that?

91
00:05:15,480 --> 00:05:17,520
Speaker 1: And what do you make about it through the lens

92
00:05:17,560 --> 00:05:20,400
Speaker 1: of the trade talks that are going on between the

93
00:05:20,440 --> 00:05:24,560
Speaker 1: US and China and US and Mexico. Yeah, look, I

94
00:05:24,560 --> 00:05:27,359
Speaker 1: mean on both sides. First of all, the job stumpers

95
00:05:27,400 --> 00:05:31,320
Speaker 1: get being stronger, but we're also not seeing wage growth

96
00:05:31,400 --> 00:05:33,400
Speaker 1: in the way that we ought to be. So from

97
00:05:33,440 --> 00:05:36,400
Speaker 1: the perspective of you know, when you have families that

98
00:05:37,040 --> 00:05:39,279
Speaker 1: in real terms haven't had a pay increase in forty

99
00:05:39,360 --> 00:05:43,159
Speaker 1: years and seeing st you know, Major sixty, the fortune

100
00:05:43,640 --> 00:05:46,159
Speaker 1: companies not paying a sent corporate tax income. You know,

101
00:05:46,360 --> 00:05:48,839
Speaker 1: most folks that I'm talking to are saying, look, this

102
00:05:48,960 --> 00:05:52,400
Speaker 1: isn't getting that much better for me, and the uncertainty

103
00:05:52,440 --> 00:05:56,520
Speaker 1: that's being caused. You know, who knows if on Monday

104
00:05:56,600 --> 00:06:04,000
Speaker 1: there are tariffs on Mexican goods and this is all

105
00:06:04,040 --> 00:06:07,120
Speaker 1: about you know, we're kind of using these tariffs. It's

106
00:06:07,160 --> 00:06:10,760
Speaker 1: just this blunt instrument all the way around, which is

107
00:06:10,800 --> 00:06:15,520
Speaker 1: no wing to affect trade policy or candidly immigration policy,

108
00:06:15,640 --> 00:06:18,920
Speaker 1: which is what Mexico is all about. Governor Steve Bullock,

109
00:06:19,000 --> 00:06:24,440
Speaker 1: he is a governor of Montana. He's a Democratic presidential candidate. Uh,

110
00:06:24,560 --> 00:06:28,160
Speaker 1: we're talking to him about US policy, the politics. He's

111
00:06:28,200 --> 00:06:31,080
Speaker 1: fighting to get on that debate stage in Miami at

112
00:06:31,080 --> 00:06:33,640
Speaker 1: the end of the month, Governor, I'll be down there,

113
00:06:33,680 --> 00:06:35,400
Speaker 1: so you know, hopefully i'll see you down there and

114
00:06:35,920 --> 00:06:37,880
Speaker 1: I'll be able to interview you in the spin room.

115
00:06:38,320 --> 00:06:40,960
Speaker 1: But before I let you go, I know you're actually

116
00:06:41,120 --> 00:06:46,880
Speaker 1: on stage not well. Before I let you go, let

117
00:06:46,880 --> 00:06:49,480
Speaker 1: me ask you just one more question with regards to

118
00:06:49,600 --> 00:06:52,880
Speaker 1: the tariff policy. What are you hearing from folks in

119
00:06:53,000 --> 00:06:56,480
Speaker 1: your state about the impact that these tariffs are having

120
00:06:57,360 --> 00:07:01,479
Speaker 1: on on the various sectors in in my data, Yeah,

121
00:07:01,800 --> 00:07:04,000
Speaker 1: let me give you one example, even not for my state.

122
00:07:04,080 --> 00:07:06,960
Speaker 1: It was about a week ago in Iowa. Farmer comes

123
00:07:07,040 --> 00:07:09,720
Speaker 1: up to me and says, we're down a hundred forty

124
00:07:09,800 --> 00:07:13,080
Speaker 1: seven thousand bucks because of these tariffs. And at the

125
00:07:13,160 --> 00:07:16,440
Speaker 1: end of the day, yes, US farm of Agriculture said

126
00:07:16,480 --> 00:07:19,640
Speaker 1: that we'll give you a seventy dollar payment. But not

127
00:07:19,760 --> 00:07:25,080
Speaker 1: only are we losing seventy seven grand, we are also ultimately, uh,

128
00:07:25,120 --> 00:07:27,360
Speaker 1: you know, these markets aren't going to come back at

129
00:07:27,400 --> 00:07:30,080
Speaker 1: some point. When it comes to farmers and producers especially,

130
00:07:30,120 --> 00:07:33,000
Speaker 1: they're getting hit on both sides. You're getting hit on

131
00:07:33,040 --> 00:07:36,680
Speaker 1: the steel, aluminum on the front end, and then markets

132
00:07:36,680 --> 00:07:39,240
Speaker 1: are getting that much more difficult and markets are going

133
00:07:39,280 --> 00:07:42,760
Speaker 1: to change. Montana actually produces. We're number one in the

134
00:07:42,760 --> 00:07:47,440
Speaker 1: country for pulse crops like chickpeas and lentils. And it's

135
00:07:47,480 --> 00:07:51,240
Speaker 1: even the arguments, you know, we're gonna lose our market

136
00:07:51,240 --> 00:07:54,120
Speaker 1: share to Brazil as we go in the India. So

137
00:07:54,200 --> 00:07:56,840
Speaker 1: I don't think it's you know, the sort of America

138
00:07:56,960 --> 00:08:01,120
Speaker 1: First policy has become America a loan when it comes

139
00:08:01,240 --> 00:08:05,360
Speaker 1: to trade, and it's not working because it's our farmers

140
00:08:05,400 --> 00:08:09,480
Speaker 1: and ranchers that are left hand the bill. Governor Steve

141
00:08:09,520 --> 00:08:13,880
Speaker 1: Bullock Democratic presidential candidate. He's the governor of Montana. We

142
00:08:13,920 --> 00:08:17,080
Speaker 1: appreciate you, Gov calling in and giving us the update

143
00:08:17,160 --> 00:08:19,240
Speaker 1: on what is now just a few weeks away from

144
00:08:19,280 --> 00:08:23,760
Speaker 1: that first presidential Democratic debate down in Miami. Thank you, Governor.

145
00:08:23,800 --> 00:08:25,960
Speaker 1: Have a good weekend with you and your family. I

146
00:08:26,160 --> 00:08:28,600
Speaker 1: was great talking to Thank you, Thank you, appreciate that

147
00:08:28,720 --> 00:08:31,440
Speaker 1: and joining us for reaction. Mattie Duppler, senior fellow at

148
00:08:31,440 --> 00:08:35,440
Speaker 1: the National Taxpayers Union, former Coalitions director for the House

149
00:08:35,520 --> 00:08:39,199
Speaker 1: Republican Conference Joel Payne, Democratic strategist. He's worked on the

150
00:08:39,280 --> 00:08:42,440
Speaker 1: Hillary campaign as well as for former Senate Majority Leader

151
00:08:42,480 --> 00:08:45,320
Speaker 1: Harry Reid. Maddie, your response to the govn Yes, I

152
00:08:45,320 --> 00:08:47,280
Speaker 1: want to pick up where the GOV left off on

153
00:08:47,559 --> 00:08:49,839
Speaker 1: the wage question, because to me, that is the most

154
00:08:49,920 --> 00:08:52,520
Speaker 1: interesting data point that we see every month when we're

155
00:08:52,520 --> 00:08:54,760
Speaker 1: talking about the job stuff. That number, that top line,

156
00:08:54,880 --> 00:08:57,280
Speaker 1: job line number that can change every month. When we

157
00:08:57,320 --> 00:08:59,880
Speaker 1: saw February was a huge disappointment and a huge rebound

158
00:09:00,280 --> 00:09:02,880
Speaker 1: um in the months after that. So on wages, though,

159
00:09:03,040 --> 00:09:04,640
Speaker 1: I do want to correct the record a little bit.

160
00:09:04,880 --> 00:09:08,000
Speaker 1: Over the last ten months, we've seen wages rise over

161
00:09:08,080 --> 00:09:11,560
Speaker 1: a three percent average, which is the bump that Americans

162
00:09:11,600 --> 00:09:13,280
Speaker 1: have been waiting for it. They hadn't seen the ten

163
00:09:13,360 --> 00:09:16,000
Speaker 1: years prior. That does make a difference. Now today we

164
00:09:16,040 --> 00:09:17,559
Speaker 1: saw a little bit of a cooling on that, a

165
00:09:17,640 --> 00:09:20,120
Speaker 1: move from three point two percent increase the three point

166
00:09:20,120 --> 00:09:23,240
Speaker 1: one percent increase. So the question is why is that.

167
00:09:23,559 --> 00:09:25,160
Speaker 1: I've been looking a lot of data where I'm trying

168
00:09:25,160 --> 00:09:26,800
Speaker 1: to figure out what is the connection here. I think

169
00:09:26,800 --> 00:09:28,920
Speaker 1: there's two different things that can explain it. That's not

170
00:09:28,960 --> 00:09:31,120
Speaker 1: simply oh my god, we're going into a recession because

171
00:09:31,120 --> 00:09:33,320
Speaker 1: everyone everyone needs to be a little bit cool when

172
00:09:33,400 --> 00:09:35,800
Speaker 1: it comes to these job numbers, all right. But the

173
00:09:35,840 --> 00:09:37,840
Speaker 1: wage question I think is super interesting because I do

174
00:09:37,920 --> 00:09:41,000
Speaker 1: think we have to influences at work here. One is

175
00:09:41,040 --> 00:09:44,240
Speaker 1: that technology, of course, is decaying a little bit. This

176
00:09:44,280 --> 00:09:47,640
Speaker 1: connection between productivity and wage increases, which has been linear

177
00:09:47,679 --> 00:09:50,000
Speaker 1: for the last probably I don't know decade, our excuse

178
00:09:50,040 --> 00:09:52,760
Speaker 1: me century or so uh, that is changing a little

179
00:09:52,760 --> 00:09:55,960
Speaker 1: bit workers relation to work that they're doing. But secondly,

180
00:09:56,040 --> 00:09:58,319
Speaker 1: when you look at the way that workers are integrating

181
00:09:58,320 --> 00:10:01,000
Speaker 1: into this economy, we saw with pride Bit jobs data

182
00:10:01,040 --> 00:10:04,440
Speaker 1: from a DP earlier this week that firms are having

183
00:10:04,480 --> 00:10:07,679
Speaker 1: a really hard time finding workers that can match their

184
00:10:07,720 --> 00:10:09,800
Speaker 1: job needs. So right now we've got this disconnection or

185
00:10:09,880 --> 00:10:12,360
Speaker 1: labor market where we've got seven million open jobs and

186
00:10:12,400 --> 00:10:14,199
Speaker 1: we don't necessarily have the skill sets to meet it.

187
00:10:14,240 --> 00:10:15,840
Speaker 1: I think we're going to continue to see that born

188
00:10:15,880 --> 00:10:17,880
Speaker 1: out in some of this economic datael Pain, we got

189
00:10:18,000 --> 00:10:19,640
Speaker 1: a one two punch. Should the gov be able to

190
00:10:19,640 --> 00:10:22,080
Speaker 1: get on the stage in Miami, what's one more? I

191
00:10:22,160 --> 00:10:24,280
Speaker 1: actually think the best thing that could happen to him

192
00:10:24,320 --> 00:10:25,920
Speaker 1: is to not get on the stage and be able

193
00:10:25,960 --> 00:10:31,000
Speaker 1: to raise all the hackles from outside and stand outside, stand,

194
00:10:31,120 --> 00:10:33,960
Speaker 1: you know, stand and uh and and basically complain about

195
00:10:34,480 --> 00:10:37,040
Speaker 1: being treated unfairly. I thought his point about him actually

196
00:10:37,040 --> 00:10:39,280
Speaker 1: having a job was a really good one. The fact

197
00:10:39,320 --> 00:10:41,640
Speaker 1: that he's more worried about supporting the people that put

198
00:10:41,720 --> 00:10:44,439
Speaker 1: him in office in Montana versus raising money from donors.

199
00:10:44,480 --> 00:10:46,719
Speaker 1: I think it's a powerful one. And I think if

200
00:10:46,760 --> 00:10:51,720
Speaker 1: you look at being Steve Bullock right standing outside getting interviewed,

201
00:10:51,720 --> 00:10:54,600
Speaker 1: getting this sympathy interview, versus being John hick and Looper

202
00:10:54,679 --> 00:10:58,400
Speaker 1: or or j Ininsley, right, I'd rather be Steve Bullock. Okay,

203
00:10:58,440 --> 00:11:04,280
Speaker 1: I didn't give a sympathy interview, me a fair reporter

204
00:11:04,400 --> 00:11:07,240
Speaker 1: coming up more reaction from the panel, Matti Duppler, Joel Pain.

205
00:11:07,320 --> 00:11:09,520
Speaker 1: No sympathy here, Joel. And then we've also we're gonna

206
00:11:09,559 --> 00:11:13,400
Speaker 1: check in with Robert Strayer. He's the deputy assistant secretary

207
00:11:13,520 --> 00:11:16,440
Speaker 1: at the State Department on all things cyber. We're gonna

208
00:11:16,440 --> 00:11:20,680
Speaker 1: talk to him about huawah. You're listening to Bloomberg one.

209
00:11:24,760 --> 00:11:29,680
Speaker 1: This is sound on with Kevin Zeril on Bloomberg one

210
00:11:29,840 --> 00:11:31,800
Speaker 1: and one oh five point seven of m h D

211
00:11:31,920 --> 00:11:36,480
Speaker 1: two Baltimore. T g I F unless you're worried about tariffs,

212
00:11:36,520 --> 00:11:40,880
Speaker 1: because the President still could add those tariffs against Mexico

213
00:11:41,160 --> 00:11:45,080
Speaker 1: on Monday. Monday is the deadline. President Trump signaling that

214
00:11:45,120 --> 00:11:47,319
Speaker 1: he's open to a deal, but he's got to get

215
00:11:47,320 --> 00:11:49,800
Speaker 1: a deal, and he says that a deal would include

216
00:11:50,080 --> 00:11:54,440
Speaker 1: increasing purchases for agricultural states as well as other US

217
00:11:54,520 --> 00:11:57,360
Speaker 1: products to get Mexico on board. Otherwise he's going to

218
00:11:57,480 --> 00:12:00,880
Speaker 1: raise those tariffs. Joel Pain is here. He's a Democratic strategist,

219
00:12:00,920 --> 00:12:03,920
Speaker 1: used to work for former Senate Majority Leader Harry Read.

220
00:12:04,000 --> 00:12:08,480
Speaker 1: I almost at Mitch mcconald, Joel, I said, not that Joel.

221
00:12:08,840 --> 00:12:13,560
Speaker 1: Joel is a Democratic trgist. Oh, come on, that's gonna

222
00:12:13,559 --> 00:12:17,520
Speaker 1: get me in trouble. I I Uh. Joel also worked

223
00:12:17,559 --> 00:12:22,720
Speaker 1: for the Hillary Clinton campaign. I've interviewed UH. Anyway, Maddie

224
00:12:22,720 --> 00:12:25,960
Speaker 1: Douffler is here. She's a Republican strategist. She's also UH.

225
00:12:26,160 --> 00:12:31,240
Speaker 1: She's a senior fellow at the National Taxpayers Union, former

226
00:12:31,280 --> 00:12:33,800
Speaker 1: coalitions director for the House Republican Conference, a friend of

227
00:12:33,840 --> 00:12:35,959
Speaker 1: the program. Let's let's go into the jobs and numbers,

228
00:12:36,320 --> 00:12:38,360
Speaker 1: break it down for us. Earlier you were talking about

229
00:12:38,360 --> 00:12:41,680
Speaker 1: technology and the impact that that's having on wage growth

230
00:12:41,960 --> 00:12:47,160
Speaker 1: and whatnot. But uh, but talk to me, why why

231
00:12:47,240 --> 00:12:48,720
Speaker 1: is such a low jobs? Yeah? I just think that

232
00:12:48,760 --> 00:12:51,640
Speaker 1: we brought up technology. I brought the relationship between workers

233
00:12:51,679 --> 00:12:54,760
Speaker 1: and wages because I think it continually changes, and our

234
00:12:54,800 --> 00:12:58,720
Speaker 1: economic data sense every month don't really allow for that conversation.

235
00:12:59,120 --> 00:13:02,679
Speaker 1: Particularly in Paul text, we talk about jobs created, jobs lost,

236
00:13:02,800 --> 00:13:04,880
Speaker 1: and who's at fault. Well, then the story, of course

237
00:13:04,960 --> 00:13:06,959
Speaker 1: is always a little more nuanced than that. But you're right,

238
00:13:07,040 --> 00:13:09,640
Speaker 1: Kevin about that top line number. Seventy five thousand jobs

239
00:13:09,679 --> 00:13:11,800
Speaker 1: was not with the expectation, not even close to what

240
00:13:11,880 --> 00:13:14,880
Speaker 1: the expectation was. We thought one eight might be what

241
00:13:14,960 --> 00:13:19,120
Speaker 1: was produced last month. Um, but still with that disappointment

242
00:13:19,200 --> 00:13:22,200
Speaker 1: on the number, the average number of jobs created is

243
00:13:22,280 --> 00:13:24,600
Speaker 1: still above what we need to kind of keep the

244
00:13:24,720 --> 00:13:27,760
Speaker 1: rate at the at the same rate of population growth,

245
00:13:27,760 --> 00:13:30,040
Speaker 1: mean about I think a hundred and ten thousand jobs

246
00:13:30,040 --> 00:13:33,160
Speaker 1: a month, So that still shows expansion in spacing economy

247
00:13:33,160 --> 00:13:36,080
Speaker 1: for expansion. Last month when we got job numbers that

248
00:13:36,120 --> 00:13:39,920
Speaker 1: we're really really positive, I think we had two was

249
00:13:39,960 --> 00:13:41,840
Speaker 1: that labor for that I almost I was on air

250
00:13:41,880 --> 00:13:44,600
Speaker 1: of Bloomberg tele and I was like, wow, yeah. So

251
00:13:44,640 --> 00:13:47,480
Speaker 1: the last month when we saw that we had Neil

252
00:13:47,520 --> 00:13:51,120
Speaker 1: cash Kari the Minneapolis Fed saying that we're not at

253
00:13:51,160 --> 00:13:53,040
Speaker 1: full employment. So this has been the big question for

254
00:13:53,080 --> 00:13:55,080
Speaker 1: the FED to answer, which is what does full employment

255
00:13:55,080 --> 00:13:57,079
Speaker 1: look like? Three years ago, the FED had said that

256
00:13:57,120 --> 00:13:59,880
Speaker 1: full employment looked like four point eight percent unemployment. Of course,

257
00:14:00,000 --> 00:14:02,480
Speaker 1: saw today that unemployment still is at three point six

258
00:14:02,920 --> 00:14:05,240
Speaker 1: much lower than they had anticipated. So this is the

259
00:14:05,280 --> 00:14:07,520
Speaker 1: question economists are really trying to tussle with, which is

260
00:14:07,800 --> 00:14:10,400
Speaker 1: when is the actual kind of like staying rate for

261
00:14:10,440 --> 00:14:13,040
Speaker 1: the economy. How many people do we want working? Is

262
00:14:13,040 --> 00:14:14,760
Speaker 1: there more room to grow? And I think there's still

263
00:14:14,880 --> 00:14:17,160
Speaker 1: plenty of space, Maddie. This is where I think Joel

264
00:14:17,320 --> 00:14:20,000
Speaker 1: Maddie and myself can agree this is not full employment.

265
00:14:20,040 --> 00:14:21,440
Speaker 1: You don't have to have a you don't have to

266
00:14:21,480 --> 00:14:25,160
Speaker 1: have an economy degree from an Ivy League school to

267
00:14:25,160 --> 00:14:28,080
Speaker 1: know that this is not full employment. Right, Yeah, And look,

268
00:14:28,120 --> 00:14:29,840
Speaker 1: I think about this as a communicator. I think Maddie

269
00:14:29,840 --> 00:14:35,080
Speaker 1: gave a very thorough, good, solid, like economy laden description

270
00:14:35,080 --> 00:14:38,120
Speaker 1: of what's going on. But as a as a political

271
00:14:38,280 --> 00:14:41,760
Speaker 1: political communicator, Okay, I think about this in terms of

272
00:14:41,800 --> 00:14:44,840
Speaker 1: how the American people view what's going on. They know

273
00:14:44,920 --> 00:14:48,160
Speaker 1: that the fundamentals of the economy, broad least speaking, are strong,

274
00:14:48,800 --> 00:14:53,000
Speaker 1: and for political actors here, I don't I actually don't

275
00:14:53,080 --> 00:14:56,120
Speaker 1: think that um that people should be reacting on a

276
00:14:56,160 --> 00:14:58,240
Speaker 1: week by week, month by month basis. You know, when

277
00:14:58,240 --> 00:14:59,960
Speaker 1: worked in a majority leaders office, we had a rule

278
00:15:00,400 --> 00:15:03,680
Speaker 1: we would not follow the up and down, the ping

279
00:15:03,800 --> 00:15:09,040
Speaker 1: the ping pong of terms these jobs reports numbers, because honestly,

280
00:15:09,360 --> 00:15:11,320
Speaker 1: some some muchs you're gonna go above, some much you're

281
00:15:11,320 --> 00:15:13,520
Speaker 1: gonna go below. So I mean that just kind of happens,

282
00:15:13,520 --> 00:15:16,240
Speaker 1: I think, broadly speaking, though nothing has changed in terms

283
00:15:16,240 --> 00:15:18,480
Speaker 1: of the overall broad fundamentals of each All right, let's

284
00:15:18,480 --> 00:15:20,880
Speaker 1: play with Kevin Hassett, chief Economists for over at the

285
00:15:20,880 --> 00:15:23,880
Speaker 1: White House, what he had to say about about the

286
00:15:23,960 --> 00:15:27,200
Speaker 1: jobs numbers and whether or not they're being impacted by

287
00:15:27,320 --> 00:15:30,880
Speaker 1: the tariffs. Here's Kevin Hassett. I've heard a lot of

288
00:15:30,960 --> 00:15:34,640
Speaker 1: folks also talking about how, well, maybe the jobs number reflects,

289
00:15:35,000 --> 00:15:37,760
Speaker 1: you know, the trade problems. But remember that this is May,

290
00:15:37,920 --> 00:15:41,680
Speaker 1: and so this job's number comes before anything regarding Mexico.

291
00:15:42,040 --> 00:15:43,800
Speaker 1: And also the only thing that really happened in May

292
00:15:43,960 --> 00:15:47,080
Speaker 1: was that the Chinese talks hit a roadblock, and and

293
00:15:47,360 --> 00:15:49,280
Speaker 1: so I think that it's hard to imagine that a

294
00:15:49,360 --> 00:15:51,520
Speaker 1: roadblock of the Chinese talks could have a really big

295
00:15:51,640 --> 00:15:55,320
Speaker 1: macro economic effect. That was Kevin Hassett speaking earlier today

296
00:15:55,320 --> 00:15:58,120
Speaker 1: on Bloomberg Television. So, Maddie Lovell with me, are these

297
00:15:58,120 --> 00:16:01,640
Speaker 1: tariffs hurting or helping the US economy? I can't see

298
00:16:01,640 --> 00:16:04,800
Speaker 1: how they could possibly help. This is why I also

299
00:16:04,880 --> 00:16:08,480
Speaker 1: bring up the wage question, because wages rise when businesses

300
00:16:08,480 --> 00:16:11,640
Speaker 1: have capital available to invest in their workers. That I

301
00:16:11,680 --> 00:16:14,920
Speaker 1: think is non controversial and has been the product of

302
00:16:15,000 --> 00:16:17,320
Speaker 1: business investment over the last several months, and we're starting

303
00:16:17,360 --> 00:16:20,000
Speaker 1: to see that slow a little bit. Tariffs can certainly

304
00:16:20,040 --> 00:16:22,120
Speaker 1: be an explanation for that. But I also think that

305
00:16:22,120 --> 00:16:24,480
Speaker 1: that's the downside risk. That's the downside risk when you're

306
00:16:24,480 --> 00:16:26,520
Speaker 1: looking at what the FETE is trying to assess what's

307
00:16:26,520 --> 00:16:28,640
Speaker 1: going on with the economy. That's the downside risk when

308
00:16:28,680 --> 00:16:30,800
Speaker 1: you're looking at numbers like this and trying to figure

309
00:16:30,840 --> 00:16:33,800
Speaker 1: out a reason for why we see a lower job growth.

310
00:16:34,240 --> 00:16:37,760
Speaker 1: That is what I think permeates every economic public policy

311
00:16:37,840 --> 00:16:39,640
Speaker 1: question right now, which is what the heck is happening

312
00:16:39,640 --> 00:16:43,200
Speaker 1: with trade? And tariffs certainly are not making the environment

313
00:16:43,200 --> 00:16:46,200
Speaker 1: any roads here. It's fascinating that this is where mainstream

314
00:16:46,240 --> 00:16:48,680
Speaker 1: Republicans have really started to break with the president. You've

315
00:16:48,680 --> 00:16:50,920
Speaker 1: seen a lot of frustration over the last few weeks.

316
00:16:50,960 --> 00:16:52,440
Speaker 1: I mean, there was that meeting where I think it

317
00:16:52,520 --> 00:16:55,080
Speaker 1: was who it was at Lanksford from Missouri who talked

318
00:16:55,080 --> 00:16:57,400
Speaker 1: about the fact that the president with tariff his way

319
00:16:57,400 --> 00:16:59,640
Speaker 1: out of anything, and he thinks that that's the only

320
00:17:00,080 --> 00:17:04,520
Speaker 1: solution you have, like for not Missouri, Obama. Sorry, got

321
00:17:04,560 --> 00:17:06,840
Speaker 1: the middle of the country wrong. Sorry about that. So

322
00:17:07,040 --> 00:17:09,480
Speaker 1: um anyways, I think but I think that, but I

323
00:17:09,480 --> 00:17:11,520
Speaker 1: think that's I think that's so fascinating that this is

324
00:17:11,600 --> 00:17:13,760
Speaker 1: where the line in the sand has been drawn from

325
00:17:13,800 --> 00:17:17,160
Speaker 1: mainstream Republicans. Joel Maddie stick around much more reaction. We're

326
00:17:17,160 --> 00:17:20,000
Speaker 1: also we've got a great interview coming up with Robert Strayer.

327
00:17:20,040 --> 00:17:22,640
Speaker 1: He's gonna he's in the bureau, He's the deputy Assistant

328
00:17:22,680 --> 00:17:26,080
Speaker 1: Secretary for cyber at International Communications. Have you guys been

329
00:17:26,080 --> 00:17:28,200
Speaker 1: following what's been going on with Huawei and the Russians,

330
00:17:28,320 --> 00:17:31,240
Speaker 1: I mean they get to steal Russia. Putin signs this

331
00:17:31,320 --> 00:17:34,520
Speaker 1: deal with with HUAWE. I mean this after the US

332
00:17:34,720 --> 00:17:37,879
Speaker 1: By the way, Democratic parties on board with President Trump

333
00:17:37,920 --> 00:17:40,480
Speaker 1: on banning QUAWE. It's a huge national security risk. And

334
00:17:40,480 --> 00:17:43,880
Speaker 1: now Putin's getting involved with the with Huawei. We'll ask

335
00:17:43,960 --> 00:17:47,320
Speaker 1: him about that. Download the Sound On podcast on Apple iTunes,

336
00:17:47,520 --> 00:17:50,680
Speaker 1: at Bloomberg dot com, or by downloading the Bloomberg Business App.

337
00:17:50,960 --> 00:17:53,199
Speaker 1: You can also find us on Radio dot com, I

338
00:17:53,320 --> 00:17:57,159
Speaker 1: Heart Radio, and Spotify. I'm Kevin s. Really it is Friday,

339
00:17:57,280 --> 00:18:01,920
Speaker 1: my friends, and you're listening to Bloomberg One. You're listening

340
00:18:01,960 --> 00:18:06,920
Speaker 1: to Sound On with Kevin's Really on Bloomberg and one

341
00:18:06,920 --> 00:18:09,359
Speaker 1: oh five point seven F M H D two Baltimore,

342
00:18:10,040 --> 00:18:12,920
Speaker 1: t g I F. President Trump about to touch back

343
00:18:12,960 --> 00:18:15,719
Speaker 1: down in t the United States. He was traveling abroad

344
00:18:16,040 --> 00:18:20,160
Speaker 1: for the past couple of days. Meanwhile, Russia President Vladimir

345
00:18:20,200 --> 00:18:24,200
Speaker 1: Putin he signed a deal with Vahwei, the Chinese telecom giant.

346
00:18:24,280 --> 00:18:27,159
Speaker 1: This is President Trump just over a week ago. A

347
00:18:27,200 --> 00:18:30,359
Speaker 1: week or two ago signs that executive order making it

348
00:18:30,440 --> 00:18:33,600
Speaker 1: difficult for US businesses to do business with Huawei and

349
00:18:33,680 --> 00:18:37,800
Speaker 1: other Chinese state run telecom giants. The President had bipartisan

350
00:18:37,840 --> 00:18:41,280
Speaker 1: support on this. Democrats agreed. I spoke with Senator Mark Warner,

351
00:18:41,359 --> 00:18:44,719
Speaker 1: Democrat from Virginia, top Democrat on the Intel Committee. He agreed.

352
00:18:45,040 --> 00:18:47,320
Speaker 1: He said the President Trump should stay the course on this.

353
00:18:47,920 --> 00:18:51,520
Speaker 1: We also heard from Speaker Pelosi Senate Minority Leader Chuck

354
00:18:51,520 --> 00:18:55,200
Speaker 1: Schumer all saying that they agreed that Huawei not good

355
00:18:55,280 --> 00:18:57,359
Speaker 1: not a good look for folks to be doing business

356
00:18:57,359 --> 00:18:59,919
Speaker 1: with them, and Democrats are saying that in a line

357
00:19:00,480 --> 00:19:05,639
Speaker 1: with President Trump. Here in the studio with us is

358
00:19:05,640 --> 00:19:10,080
Speaker 1: the Deputy Assistant Secretary for cyber and International Communications at

359
00:19:10,080 --> 00:19:13,400
Speaker 1: the State Department. He's also previously worked with former Senator

360
00:19:13,400 --> 00:19:18,439
Speaker 1: Bob Corker Robert Strayer. Robert runs all the comms at

361
00:19:18,440 --> 00:19:21,440
Speaker 1: the State Department for Huawei and whatnot. So as the

362
00:19:21,640 --> 00:19:27,200
Speaker 1: US looks to craft a five G policy five G infrastructure,

363
00:19:27,240 --> 00:19:29,160
Speaker 1: what are the things that the State Department is doing

364
00:19:29,160 --> 00:19:33,440
Speaker 1: to ensure that bad actors like Quahwei don't get involved? Right?

365
00:19:33,440 --> 00:19:35,840
Speaker 1: Thanks for having me, Kevin. So it's very important around

366
00:19:35,880 --> 00:19:38,919
Speaker 1: the world that we as we become more interconnected in

367
00:19:39,040 --> 00:19:42,720
Speaker 1: the digital ecosystem, that we and we have the supply

368
00:19:42,840 --> 00:19:45,439
Speaker 1: chains that are going around the world, that those not

369
00:19:45,520 --> 00:19:48,720
Speaker 1: be interrupted. We're going to see five G technology with

370
00:19:48,760 --> 00:19:50,920
Speaker 1: all the sensors what they call the Internet of Things

371
00:19:50,960 --> 00:19:54,679
Speaker 1: that will eventually enable of the full suite of all

372
00:19:54,720 --> 00:19:59,600
Speaker 1: kinds of critical infrastructure, including transportation to automated transportation systems UH,

373
00:19:59,680 --> 00:20:04,880
Speaker 1: ship ing, manufacturing, UH telemedicine, as well as the distribution

374
00:20:04,960 --> 00:20:08,399
Speaker 1: electricity and water over those networks. We cannot have an

375
00:20:08,440 --> 00:20:11,840
Speaker 1: adversarial state that's able to pull the plug on our

376
00:20:11,880 --> 00:20:15,359
Speaker 1: ability to see that critical infrastructure operate abroad or domestically.

377
00:20:15,400 --> 00:20:17,040
Speaker 1: So as we protect our networks here, we need to

378
00:20:17,119 --> 00:20:19,040
Speaker 1: ensure that our partners now as that we do business

379
00:20:19,040 --> 00:20:20,919
Speaker 1: with also are not gonna be discribed. How do we

380
00:20:21,000 --> 00:20:23,200
Speaker 1: do that? Because you know, I'm looking at these headlines,

381
00:20:23,240 --> 00:20:26,800
Speaker 1: same headlines you're looking at with Europe, for example, they

382
00:20:26,840 --> 00:20:31,320
Speaker 1: weren't necessarily following suit on what is happening with restrictions

383
00:20:31,320 --> 00:20:33,879
Speaker 1: being placed on Wawa. How do we convince the Europeans

384
00:20:33,880 --> 00:20:36,760
Speaker 1: to get on board. So, and we've gone through about

385
00:20:36,760 --> 00:20:39,080
Speaker 1: a year long education campaign, We're gonna keep going back

386
00:20:39,080 --> 00:20:41,320
Speaker 1: to them talking about the nature of how five G

387
00:20:41,520 --> 00:20:43,679
Speaker 1: is different than four G technology and how you can

388
00:20:44,040 --> 00:20:45,800
Speaker 1: need to secure that in a different way, in a

389
00:20:45,800 --> 00:20:49,560
Speaker 1: fundamentally different way because the cost of disruption is so high,

390
00:20:49,640 --> 00:20:52,120
Speaker 1: and as well as there's such a potential for data

391
00:20:52,280 --> 00:20:55,480
Speaker 1: to be exfiltrated, sent to Beijing and used for purposes

392
00:20:55,520 --> 00:20:58,720
Speaker 1: that are not in compliance with our shared values, our

393
00:20:58,800 --> 00:21:01,320
Speaker 1: views about phenomenal human rights and our views about the

394
00:21:01,359 --> 00:21:04,320
Speaker 1: rule of law. Companies in China have to do what

395
00:21:04,440 --> 00:21:07,399
Speaker 1: they're told to do by the Chinese Communist Party. They

396
00:21:07,400 --> 00:21:09,080
Speaker 1: don't have a way of going to court or an

397
00:21:09,160 --> 00:21:11,600
Speaker 1: independent judiciary and say no, I don't want to fall

398
00:21:11,800 --> 00:21:13,760
Speaker 1: follow through on that. So we're trying to educate them.

399
00:21:13,880 --> 00:21:15,600
Speaker 1: But the really good news though, I think at this

400
00:21:15,640 --> 00:21:18,200
Speaker 1: point though, is almost every country in Europe is now

401
00:21:18,240 --> 00:21:20,560
Speaker 1: starting to say that we agree that we will ban

402
00:21:20,720 --> 00:21:23,480
Speaker 1: Huawei from the core of our networks. Now, we don't

403
00:21:23,520 --> 00:21:26,280
Speaker 1: think that core edge distinction, that is that there's somehow

404
00:21:26,320 --> 00:21:29,240
Speaker 1: a smarter center of your network and a dumber edge.

405
00:21:29,320 --> 00:21:32,119
Speaker 1: As you're doing critical infrastructure at the edge, when you

406
00:21:32,160 --> 00:21:34,080
Speaker 1: need to have a low latency with the component parts

407
00:21:34,080 --> 00:21:36,560
Speaker 1: out there, that also needs to be secure. But if

408
00:21:36,560 --> 00:21:38,600
Speaker 1: a country is willing to admit that it needs to

409
00:21:38,640 --> 00:21:41,479
Speaker 1: secure itself from Whahwei at its core, it should that

410
00:21:41,520 --> 00:21:43,320
Speaker 1: logic should lead it to ban it at the edge

411
00:21:43,359 --> 00:21:46,440
Speaker 1: as well. Robert stair He is the Deputy Assistant Secretary

412
00:21:46,480 --> 00:21:49,800
Speaker 1: for Cyber and International Comms at the State's Department. He

413
00:21:49,880 --> 00:21:53,280
Speaker 1: previously worked for Senator Bob Corker as well as at

414
00:21:53,280 --> 00:21:56,480
Speaker 1: the Department of Homeland Security, Homely Scarity Committee, in the

415
00:21:56,760 --> 00:21:59,639
Speaker 1: Land Security Committee in the Senate. UH he's joining us

416
00:21:59,680 --> 00:22:01,879
Speaker 1: talking all things cyber, all things five G. What do

417
00:22:01,960 --> 00:22:05,080
Speaker 1: you make a putin and Huawei, I mean this announcement

418
00:22:05,119 --> 00:22:06,720
Speaker 1: the other day, it was almost as if they were

419
00:22:06,760 --> 00:22:09,680
Speaker 1: sticking their nose up at the United States in response

420
00:22:09,720 --> 00:22:12,640
Speaker 1: to the executive order. It truly is a bad decision.

421
00:22:13,280 --> 00:22:15,439
Speaker 1: But you know, we're telling everyone around the world that

422
00:22:15,480 --> 00:22:18,960
Speaker 1: there's an inherent risk in using Chinese technology. That's going

423
00:22:19,000 --> 00:22:22,240
Speaker 1: to be under the direction and control of the Chinese

424
00:22:22,240 --> 00:22:25,720
Speaker 1: Communist Party. It could be under a time of escalatory

425
00:22:25,840 --> 00:22:30,000
Speaker 1: UH conflict used against those those countries that adopt their technology.

426
00:22:30,040 --> 00:22:31,560
Speaker 1: And there's still more and then I'll let you go.

427
00:22:31,600 --> 00:22:34,200
Speaker 1: I know you're busy, it is Friday, but but there's

428
00:22:34,200 --> 00:22:36,720
Speaker 1: still more that President Trump could do with the executive

429
00:22:36,800 --> 00:22:40,440
Speaker 1: orders to protect networks, to protect the five G network.

430
00:22:40,560 --> 00:22:43,240
Speaker 1: What's the timeline or what what? What can you what

431
00:22:43,440 --> 00:22:45,800
Speaker 1: are you guys cooking up over there at the State Department. Yeah,

432
00:22:45,880 --> 00:22:48,119
Speaker 1: so across our whole energen sy, across the government of

433
00:22:48,200 --> 00:22:50,800
Speaker 1: the President, we have now on May fifteen is when

434
00:22:50,800 --> 00:22:53,560
Speaker 1: we issue the executive orders saying within five months, we're

435
00:22:53,600 --> 00:22:56,440
Speaker 1: going to come back with a set of regulations under

436
00:22:56,480 --> 00:22:59,360
Speaker 1: the pen of the Secretary of Commerce that will protect

437
00:22:59,480 --> 00:23:03,439
Speaker 1: our information and communications technologies. Domestically the State Department, We're

438
00:23:03,480 --> 00:23:05,720
Speaker 1: going around the world to make sure other governments understand

439
00:23:05,800 --> 00:23:08,760
Speaker 1: that there are legal systems, legal tools they should should

440
00:23:08,760 --> 00:23:11,919
Speaker 1: put in place to protect their networks. That, combined with

441
00:23:11,920 --> 00:23:14,480
Speaker 1: the threat analysis that we're sharing with them, the vulnerability

442
00:23:14,520 --> 00:23:16,600
Speaker 1: alys we're sharing with them, we think will lead them

443
00:23:16,640 --> 00:23:19,320
Speaker 1: to banned companies like Wawi We know that's in their

444
00:23:19,320 --> 00:23:22,640
Speaker 1: own sovereign decision basket of things to decide on their own.

445
00:23:22,760 --> 00:23:24,479
Speaker 1: But we're trying to set the right model that they

446
00:23:24,480 --> 00:23:26,960
Speaker 1: can follow, uh, in the in the months and years ahead.

447
00:23:27,000 --> 00:23:29,359
Speaker 1: And the bottom line is this is a bipart is

448
00:23:29,359 --> 00:23:32,520
Speaker 1: an issue, absolutely dramatically. I testified in front of the

449
00:23:32,720 --> 00:23:36,440
Speaker 1: Senate Judiciary Committee with Senator Lindsay Graham and Senator Diane Feinstein.

450
00:23:36,720 --> 00:23:40,159
Speaker 1: The entire committee fully behind our efforts on five G

451
00:23:40,680 --> 00:23:43,600
Speaker 1: to secure it, as well as our diplomatic campaign. All right,

452
00:23:43,800 --> 00:23:45,800
Speaker 1: what do you want? What is what is the Deputy

453
00:23:45,840 --> 00:23:53,200
Speaker 1: Assistant Secretary for Cyber and International Communications watch on Netflix? Uh? Well, uh,

454
00:23:53,240 --> 00:23:56,040
Speaker 1: the Americans will be one of the things. The America. Okay,

455
00:23:56,040 --> 00:23:58,600
Speaker 1: I'm gonna leave it there. Robert Straair exactly what I

456
00:23:58,600 --> 00:24:01,280
Speaker 1: would expect that answer to be. He watches the Americans,

457
00:24:01,320 --> 00:24:03,680
Speaker 1: works at the State Department. Can't make it up. Thank

458
00:24:03,720 --> 00:24:05,960
Speaker 1: you very much for your time, Robert. We appreciate it.

459
00:24:06,520 --> 00:24:09,000
Speaker 1: Coming up more reaction, We're gonna check in with our panel.

460
00:24:09,320 --> 00:24:15,600
Speaker 1: I'm Kevin Sirelli. You're listening to Bloomberg. This is sound

461
00:24:15,640 --> 00:24:20,000
Speaker 1: on with Kevin's related on Bloomberg one and one oh

462
00:24:20,040 --> 00:24:23,240
Speaker 1: five point seven of m h D two Baltimore. Let's

463
00:24:23,240 --> 00:24:26,199
Speaker 1: get to it. His first time on Bloomberg Radio Sound

464
00:24:26,280 --> 00:24:30,880
Speaker 1: on match Lap. He is chairman of the American Conservative Union. Matt,

465
00:24:30,920 --> 00:24:32,840
Speaker 1: we're thrilled to have you on. I gotta be honest,

466
00:24:33,160 --> 00:24:36,639
Speaker 1: I was wondering when the conservative response for Medicare for

467
00:24:36,800 --> 00:24:40,399
Speaker 1: all would emerge. And you've got something to say about it,

468
00:24:40,440 --> 00:24:44,880
Speaker 1: tell us about it. Uh, yeah, it's it's kind of shocking.

469
00:24:45,040 --> 00:24:48,439
Speaker 1: You know, people listen to um this whole concept of

470
00:24:48,480 --> 00:24:52,040
Speaker 1: medicare for all, and it's kind of disconcerting even for

471
00:24:52,119 --> 00:24:54,760
Speaker 1: big government people. I'm a small government guy obviously is

472
00:24:54,760 --> 00:24:58,960
Speaker 1: a conservative, but even for big government, for people who

473
00:24:59,080 --> 00:25:01,560
Speaker 1: believe that Medicare should be protected and you've paid into

474
00:25:01,560 --> 00:25:02,679
Speaker 1: it and you want to make sure you get it

475
00:25:02,720 --> 00:25:05,240
Speaker 1: when you're when you're an old guy, which, by the way, Kevin,

476
00:25:05,240 --> 00:25:07,919
Speaker 1: I'm not too far from being uh at that stage

477
00:25:07,920 --> 00:25:12,080
Speaker 1: of my life. Just kidding money. But then there's this

478
00:25:12,280 --> 00:25:15,080
Speaker 1: other question about, you know, what's the right way for

479
00:25:15,160 --> 00:25:18,639
Speaker 1: government to intervene into our healthcare choices. So we've pulled

480
00:25:18,640 --> 00:25:23,680
Speaker 1: together a group of major conservative groups to ask these

481
00:25:23,760 --> 00:25:26,399
Speaker 1: questions and to push back on this idea of this

482
00:25:26,520 --> 00:25:29,440
Speaker 1: innocuous sounding, Oh, we'll just we'll just put everyone into

483
00:25:29,480 --> 00:25:32,240
Speaker 1: Medicare and that will solve all of our Obamacare problems.

484
00:25:32,280 --> 00:25:34,240
Speaker 1: At the end of the day, the reason why these

485
00:25:34,240 --> 00:25:38,040
Speaker 1: Democratic non candidates for president are pushing Medicare for all

486
00:25:38,119 --> 00:25:41,080
Speaker 1: because Obamacare has been a big disaster. Well, you know

487
00:25:41,119 --> 00:25:43,560
Speaker 1: what I find interesting is that and you know this,

488
00:25:43,680 --> 00:25:46,439
Speaker 1: I mean the Democrats that I interview, the Democrats that

489
00:25:46,520 --> 00:25:49,480
Speaker 1: I speak with behind the scenes, they say they want

490
00:25:49,680 --> 00:25:53,000
Speaker 1: the party to be talking about healthcare. They want the

491
00:25:53,040 --> 00:25:56,119
Speaker 1: party to be talking about Medicare much more than they

492
00:25:56,119 --> 00:25:59,040
Speaker 1: would like to be talking about immigration or even, to

493
00:25:59,040 --> 00:26:01,960
Speaker 1: to another extent, other other types of issues. But what

494
00:26:02,040 --> 00:26:04,239
Speaker 1: I'm hearing from you is that you're saying bringing on.

495
00:26:04,280 --> 00:26:06,400
Speaker 1: I mean, if if they want to have a Medicare fight,

496
00:26:06,680 --> 00:26:09,199
Speaker 1: Republicans will will have that fight as long as they

497
00:26:09,280 --> 00:26:11,680
Speaker 1: as long as they want to have it. I can

498
00:26:11,760 --> 00:26:14,679
Speaker 1: understand why Democrats don't want to talk about healthcare because

499
00:26:14,920 --> 00:26:18,159
Speaker 1: they're having a lot of trouble. Just as let's be candid,

500
00:26:18,160 --> 00:26:20,640
Speaker 1: Republicans had trouble when they had the majority of the House,

501
00:26:21,000 --> 00:26:22,679
Speaker 1: they're having a lot of trouble figuring out what they

502
00:26:22,720 --> 00:26:24,800
Speaker 1: can agree on as a party, because they have a

503
00:26:24,800 --> 00:26:27,680
Speaker 1: lot of fractures as far as uh, as far as

504
00:26:27,680 --> 00:26:30,600
Speaker 1: we're concerned as as a conservative, I'm a conservative before

505
00:26:30,640 --> 00:26:33,880
Speaker 1: I'm a Republican. UM. It's very fair for the left

506
00:26:33,920 --> 00:26:36,359
Speaker 1: to ask those in the conservatives said, hey, what do

507
00:26:36,400 --> 00:26:38,600
Speaker 1: you stand for? What do you what do you want

508
00:26:38,640 --> 00:26:40,760
Speaker 1: to do? In this regard? You can say Obamacare is

509
00:26:40,800 --> 00:26:43,679
Speaker 1: a problem, but what's your solution? And I think I

510
00:26:43,720 --> 00:26:47,520
Speaker 1: think the first answer to that is do no, no,

511
00:26:47,520 --> 00:26:51,800
Speaker 1: no additional harm. And we do tremendous additional harm, first

512
00:26:51,840 --> 00:26:54,440
Speaker 1: of all to our budget deficit. Uh. And we wouldn't

513
00:26:54,480 --> 00:26:58,320
Speaker 1: actually improve people's health care by putting everybody on the

514
00:26:58,320 --> 00:27:01,080
Speaker 1: Medicare rules, because really you're not putting everybody on the

515
00:27:01,080 --> 00:27:04,280
Speaker 1: Medicare rules. You're putting everybody on the Medicaid rules, which

516
00:27:04,320 --> 00:27:08,160
Speaker 1: is really all Obamacare did. Obamaca. Obamacare didn't solve the

517
00:27:08,160 --> 00:27:11,840
Speaker 1: the individual health insurance market. What they did is crammed

518
00:27:11,840 --> 00:27:14,480
Speaker 1: everybody on to Medicaid. And I don't really know too

519
00:27:14,480 --> 00:27:17,320
Speaker 1: any Americans who are really pinting to be on Medicaid.

520
00:27:17,600 --> 00:27:20,680
Speaker 1: Match lab Chairman of the American Conservative Union, Matt what's

521
00:27:20,680 --> 00:27:22,880
Speaker 1: going on with these tariffs. Is it wise for President

522
00:27:22,880 --> 00:27:26,240
Speaker 1: Trump to attack on these tariffs on Monday? A lot

523
00:27:26,280 --> 00:27:29,760
Speaker 1: of Republicans, a lot of conservatives, they don't like them. Well,

524
00:27:29,760 --> 00:27:32,800
Speaker 1: conservatives don't like tarrifs, right, So I I view a

525
00:27:32,880 --> 00:27:35,520
Speaker 1: tariff as attacks and I view a tariff as an

526
00:27:35,560 --> 00:27:41,400
Speaker 1: inhibitor to two more trade relationships. That being said, tariffs

527
00:27:41,440 --> 00:27:44,560
Speaker 1: are a fact of life, just like regulations and taxes

528
00:27:44,600 --> 00:27:48,240
Speaker 1: are more generally and uh, And what the President is

529
00:27:48,240 --> 00:27:51,400
Speaker 1: trying to say with his tariff policy is that even

530
00:27:51,440 --> 00:27:53,359
Speaker 1: if you don't like them, even if you realize somebody

531
00:27:53,359 --> 00:27:56,960
Speaker 1: has to pay for them daily, consumers or companies, doesn't

532
00:27:56,960 --> 00:27:59,680
Speaker 1: mean that they're not a legitimate thing to consider that

533
00:27:59,800 --> 00:28:03,520
Speaker 1: that schode one is is different, though only because we

534
00:28:03,560 --> 00:28:06,080
Speaker 1: are at the breaking point. And I know this obviously

535
00:28:06,119 --> 00:28:08,200
Speaker 1: my wife works at the White House. We're at the

536
00:28:08,240 --> 00:28:11,480
Speaker 1: breaking point in terms of what these law enforcement officials

537
00:28:11,520 --> 00:28:15,280
Speaker 1: could do with the people running the rushing the southern border.

538
00:28:15,320 --> 00:28:18,560
Speaker 1: When President Trump was first elected, I think they feared

539
00:28:18,560 --> 00:28:20,320
Speaker 1: that he was going to deport a lot of people

540
00:28:20,320 --> 00:28:23,520
Speaker 1: who are here illegally, that they be treated harshly if

541
00:28:23,560 --> 00:28:26,440
Speaker 1: they tried to come here illegally. And what the President

542
00:28:26,480 --> 00:28:28,879
Speaker 1: has realized is that because of a lot of liberal

543
00:28:28,960 --> 00:28:33,520
Speaker 1: judges and bad laws passed by Congress, the President can

544
00:28:33,520 --> 00:28:35,119
Speaker 1: only do so much. And even when he does with

545
00:28:35,280 --> 00:28:37,960
Speaker 1: within his legal scope, you'll have some judge that will

546
00:28:38,000 --> 00:28:39,800
Speaker 1: stop it. So, I mean, he can only do so

547
00:28:39,880 --> 00:28:43,240
Speaker 1: much to change this dynamic. If we continue to allow

548
00:28:43,400 --> 00:28:46,680
Speaker 1: the numbers of people to rush the southern border, who

549
00:28:46,720 --> 00:28:49,800
Speaker 1: are you know, Kevin, We really have more of an

550
00:28:49,880 --> 00:28:53,040
Speaker 1: illegal immigration system than a legal immigration system. Will have

551
00:28:53,120 --> 00:28:56,040
Speaker 1: more people that come here illegally and are able to

552
00:28:56,040 --> 00:28:58,840
Speaker 1: stay here, then we will have people who come legally

553
00:28:59,320 --> 00:29:02,000
Speaker 1: over time. If you believe in immigration, that's going to

554
00:29:02,040 --> 00:29:05,040
Speaker 1: be very destructive for its political support. Match Slab is

555
00:29:05,120 --> 00:29:08,080
Speaker 1: first time on the program. Matt always always appreciate the time.

556
00:29:08,160 --> 00:29:12,080
Speaker 1: He is the chairman of the American Conservative Union. He

557
00:29:12,160 --> 00:29:14,880
Speaker 1: also previously worked in the Bush White House, and of

558
00:29:14,920 --> 00:29:17,640
Speaker 1: course his wife Mercedes Slap is over at the White

559
00:29:17,680 --> 00:29:19,760
Speaker 1: House now, Matt, have a great weekend. Thanks for checking in,

560
00:29:19,800 --> 00:29:22,920
Speaker 1: all right, thanks thanks for having me on. Of course,

561
00:29:22,960 --> 00:29:26,840
Speaker 1: now fresh new reaction from our panel. We have Maddie Doppler,

562
00:29:26,880 --> 00:29:30,240
Speaker 1: Senior Fellow at the National Taxpayers Union. She is also

563
00:29:30,320 --> 00:29:34,000
Speaker 1: the former Coalitions director for the House Republican Conference. Joel Payne,

564
00:29:34,000 --> 00:29:37,880
Speaker 1: democratic strategist, previously worked in the Hillary Clinton presidential campaign

565
00:29:38,080 --> 00:29:41,800
Speaker 1: as well as for former Senate Majority Leader Harry Reid. Alright, Joel,

566
00:29:42,040 --> 00:29:44,600
Speaker 1: your response to to match lap I take it you

567
00:29:44,680 --> 00:29:47,760
Speaker 1: agree with every word? Oh boy, I don't, but but

568
00:29:47,800 --> 00:29:50,360
Speaker 1: I will say this. You know, it's interesting again that

569
00:29:50,440 --> 00:29:53,320
Speaker 1: he picked his spots in terms of criticizing the president

570
00:29:53,400 --> 00:29:56,640
Speaker 1: on tariffs and Republicans that you know, he he liked

571
00:29:56,640 --> 00:29:58,440
Speaker 1: to talk a lot about the fissures in the Democratic

572
00:29:58,480 --> 00:30:01,000
Speaker 1: Party with regards to healthcare. There are fissures in the

573
00:30:01,000 --> 00:30:04,000
Speaker 1: Republican Party that are really starting to show around trade.

574
00:30:04,280 --> 00:30:07,000
Speaker 1: The president has to fire up his base, you have to.

575
00:30:07,040 --> 00:30:09,080
Speaker 1: If you're going to run a base strategy like Donald

576
00:30:09,080 --> 00:30:11,680
Speaker 1: Trump is run, it has to be a strategy where

577
00:30:11,680 --> 00:30:15,120
Speaker 1: you have of the electorate always with you. So I

578
00:30:15,120 --> 00:30:16,520
Speaker 1: wonder how the President is going to show up his

579
00:30:16,600 --> 00:30:19,440
Speaker 1: base after the latest uh spat he's had within his

580
00:30:19,480 --> 00:30:21,640
Speaker 1: own party, you know. And it's interesting because one of

581
00:30:21,640 --> 00:30:24,360
Speaker 1: the things that Matt brought up was how Republicans had

582
00:30:24,360 --> 00:30:27,360
Speaker 1: experiences to this kind of like cleavages that exists, particularly

583
00:30:27,400 --> 00:30:29,320
Speaker 1: in the House of Representatives, where you've got a big

584
00:30:29,800 --> 00:30:31,760
Speaker 1: body that sometimes has a bunch of newcomers who have

585
00:30:31,800 --> 00:30:36,040
Speaker 1: different ideas than the establishment types. Um and tariffs are

586
00:30:36,120 --> 00:30:38,640
Speaker 1: not one of those things you would think of when

587
00:30:38,720 --> 00:30:42,360
Speaker 1: you think about rabble rousing the base on the Republican side, right,

588
00:30:42,360 --> 00:30:43,840
Speaker 1: I mean, Joel, you made this point to me earlier

589
00:30:43,840 --> 00:30:45,920
Speaker 1: about how I sounded a lot like a wank. People

590
00:30:45,960 --> 00:30:48,640
Speaker 1: talking about Derris generally sound like wanks. It's interesting that

591
00:30:48,720 --> 00:30:51,920
Speaker 1: the president has this unyielding faith in a tool that

592
00:30:52,040 --> 00:30:54,880
Speaker 1: is not only a blunt instrument and fails to accomplish

593
00:30:54,920 --> 00:30:58,640
Speaker 1: political aims, but also just is very un sexy when

594
00:30:58,640 --> 00:31:00,520
Speaker 1: it comes to trying to rally up base. And I

595
00:31:00,560 --> 00:31:03,200
Speaker 1: think it's because the president, and he's been skilled at

596
00:31:03,200 --> 00:31:05,640
Speaker 1: doing this more than any other president. I can imagine

597
00:31:06,120 --> 00:31:09,240
Speaker 1: really turning everything into a culture war. The trade war

598
00:31:09,400 --> 00:31:13,400
Speaker 1: is not an economic thing. It's a culture thing because

599
00:31:13,400 --> 00:31:18,600
Speaker 1: what he's saying is transcends political ideology. Because I mean,

600
00:31:18,640 --> 00:31:21,760
Speaker 1: anti enough to talk that's on the You might hear

601
00:31:21,800 --> 00:31:24,200
Speaker 1: that from Sharon Brown. You won't just hear from Donald

602
00:31:24,200 --> 00:31:26,720
Speaker 1: Trump or Bernie Sanders. So he's really turned this into

603
00:31:26,760 --> 00:31:29,360
Speaker 1: a culture war, which is why he's been giving frankly

604
00:31:29,560 --> 00:31:31,800
Speaker 1: a little more latitude with his base and with people

605
00:31:31,960 --> 00:31:33,400
Speaker 1: in the middle of the country who have been hurt

606
00:31:33,400 --> 00:31:35,320
Speaker 1: and who are bearing the burden. So I think that

607
00:31:35,400 --> 00:31:38,440
Speaker 1: you make a really good point where on trade there

608
00:31:38,520 --> 00:31:41,520
Speaker 1: is a vacuum. There is not an ideological mooring I

609
00:31:41,560 --> 00:31:46,640
Speaker 1: think on with both parties on what their trade principles are,

610
00:31:47,040 --> 00:31:50,880
Speaker 1: because for so long trade has been viewed as the

611
00:31:51,080 --> 00:31:54,600
Speaker 1: villain outside our borders, right and Trump what he was

612
00:31:54,640 --> 00:31:57,880
Speaker 1: able to do was really articulate two Americans that the

613
00:31:57,960 --> 00:32:00,080
Speaker 1: villain that exists outside our borders is or a is

614
00:32:00,080 --> 00:32:01,760
Speaker 1: all the things that we can fix at home. Now

615
00:32:01,800 --> 00:32:04,040
Speaker 1: I do not I do not agree with the policy

616
00:32:04,080 --> 00:32:06,000
Speaker 1: response here, but you're right in terms of making that

617
00:32:06,040 --> 00:32:08,719
Speaker 1: a political message, he's been very successful. Yes or no,

618
00:32:09,320 --> 00:32:12,640
Speaker 1: Joel will start with you. The tariffs all Monday against Mexico.

619
00:32:12,760 --> 00:32:16,040
Speaker 1: Do they go into effect? I said no up until

620
00:32:16,040 --> 00:32:17,600
Speaker 1: the last Trump tweet on this, when all of a

621
00:32:17,640 --> 00:32:19,960
Speaker 1: sudden it wasn't about border security at all. It was

622
00:32:19,960 --> 00:32:23,120
Speaker 1: about increasing imports in Mexico buying more things from US.

623
00:32:23,360 --> 00:32:25,360
Speaker 1: So now I'm thinking, yeah, which is the Trump way?

624
00:32:25,440 --> 00:32:27,960
Speaker 1: The Trump ways to slap a name on something, use

625
00:32:28,000 --> 00:32:29,720
Speaker 1: it to sell, sell, selling and pull out. Okay, I

626
00:32:29,760 --> 00:32:31,400
Speaker 1: want to talk about this other thing that happened today,

627
00:32:31,400 --> 00:32:33,080
Speaker 1: and we've got like literally a minute and a half.

628
00:32:33,160 --> 00:32:35,960
Speaker 1: Did you see this about the moon and Mars? Okay,

629
00:32:36,000 --> 00:32:41,000
Speaker 1: so Trump tweets out trumpet Trump tweets out that you know,

630
00:32:41,120 --> 00:32:43,080
Speaker 1: it's not NASA, it's not about going to the moon,

631
00:32:43,120 --> 00:32:45,080
Speaker 1: it's about going to Mars. But then like a part

632
00:32:45,080 --> 00:32:47,480
Speaker 1: of it is going you have to go to the moon,

633
00:32:47,520 --> 00:32:50,440
Speaker 1: to the Moon. Where did you guys? So now the

634
00:32:50,560 --> 00:32:52,600
Speaker 1: left is saying, oh, Trump doesn't know that the Moon

635
00:32:52,680 --> 00:32:54,840
Speaker 1: isn't a part of Mars. I don't. But Joel Trump

636
00:32:54,880 --> 00:32:57,560
Speaker 1: knows that Mars is its own plan. I think we

637
00:32:57,560 --> 00:33:02,800
Speaker 1: can all agree the president is not immune to jet lack. Okay,

638
00:33:02,840 --> 00:33:05,760
Speaker 1: but listen for the record. Anyone who has watched Armageddon,

639
00:33:05,800 --> 00:33:08,560
Speaker 1: which is one of the greatest action movies of all

640
00:33:08,560 --> 00:33:14,080
Speaker 1: time cinema, it is one of top five um knows

641
00:33:14,160 --> 00:33:16,000
Speaker 1: that in order to get to the asteroid, you have

642
00:33:16,080 --> 00:33:18,360
Speaker 1: to launch from the Moon. In order to get to Mars,

643
00:33:18,400 --> 00:33:21,400
Speaker 1: many scientists say that you have to use the anti

644
00:33:21,440 --> 00:33:24,880
Speaker 1: gravitational force of the Moon to go to Mars. All

645
00:33:24,920 --> 00:33:26,640
Speaker 1: of which I am launching the campaign to be a

646
00:33:26,640 --> 00:33:30,240
Speaker 1: reporter that goes to space. NASA also has announced today

647
00:33:30,400 --> 00:33:33,560
Speaker 1: that they are willing to partner with outside businesses to

648
00:33:33,640 --> 00:33:38,200
Speaker 1: send astronauts from private sector astronauts to the space station. Well,

649
00:33:38,360 --> 00:33:41,080
Speaker 1: this is the most obvious explanation for that tweet, then, Kevin,

650
00:33:41,120 --> 00:33:43,560
Speaker 1: thank you for clearing that up. Maddie Douppler, my thanks

651
00:33:43,600 --> 00:33:46,200
Speaker 1: to you, My friend. Naddie is the senior Fellow at

652
00:33:46,200 --> 00:33:49,600
Speaker 1: the National Taxpayer Union, former Coalitions director for the House

653
00:33:49,600 --> 00:33:52,840
Speaker 1: Republican Conference. It wouldn't be job's day without Maddie Douppler,

654
00:33:53,880 --> 00:33:57,600
Speaker 1: of course, and Joel Payne, democratic strategist, former director of

655
00:33:57,640 --> 00:34:01,880
Speaker 1: African American Media Outreach for Old Ree Clinton's presidential campaign,

656
00:34:02,280 --> 00:34:05,360
Speaker 1: also the former deputy National Press Secretary to former Senate

657
00:34:05,400 --> 00:34:08,280
Speaker 1: Majority Leader Harry Reid. Our thanks to Governor Steve Bullock,

658
00:34:08,480 --> 00:34:10,839
Speaker 1: as well as Robert Strayer at the State Department. Of course,

659
00:34:10,880 --> 00:34:13,960
Speaker 1: to match slap and remember coming up, we will can

660
00:34:14,400 --> 00:34:17,600
Speaker 1: are coming up. We will also tune in to Bloomberg

661
00:34:17,760 --> 00:34:19,959
Speaker 1: for the hundred and fifty one running of the Belmont Stake,

662
00:34:20,000 --> 00:34:22,120
Speaker 1: the Preakness Winter War of Will will look to fend

663
00:34:22,160 --> 00:34:25,319
Speaker 1: off favorite U Tacchus on the mile and a half track.

664
00:34:25,400 --> 00:34:28,600
Speaker 1: Coverage starts at five pm right here on Bloomberg