1 00:00:01,680 --> 00:00:06,200 Speaker 1: Now from our nation's capital. This is Bloomberg Sound On 2 00:00:07,200 --> 00:00:11,280 Speaker 1: the President has released the Strategic Petroleum Reserve. Million a 3 00:00:11,400 --> 00:00:14,560 Speaker 1: day crisis have fallen by a dollar and fifteen cents 4 00:00:14,640 --> 00:00:17,920 Speaker 1: from their piece, It's time at the United States restore 5 00:00:18,000 --> 00:00:22,960 Speaker 1: its dominance and energy production. Bloomberg Sound On, Politics, Policy 6 00:00:22,960 --> 00:00:26,920 Speaker 1: and perspective from DC's tough name. When the barbarians were 7 00:00:26,920 --> 00:00:29,120 Speaker 1: at the gate, you were happy to let them in. 8 00:00:29,400 --> 00:00:33,440 Speaker 1: How dare you, sir? You were calling Trump America's hitler. 9 00:00:33,760 --> 00:00:36,440 Speaker 1: Then he kissed his ass up and then he endorsed. 10 00:00:36,720 --> 00:00:38,720 Speaker 1: This guy goes on National TV and says, I love 11 00:00:38,800 --> 00:00:43,880 Speaker 1: Nancy Pelow. Bloomberg Sound On with Joe Matthew on Bloomberg Radio. 12 00:00:44,640 --> 00:00:47,559 Speaker 1: The White House set to tap the Strategic oil Reserve 13 00:00:47,640 --> 00:00:50,839 Speaker 1: with three weeks to the election. Welcome to the fastest 14 00:00:50,840 --> 00:00:54,240 Speaker 1: hour in politics, as Bloomberg News leads the way. On 15 00:00:54,280 --> 00:00:57,560 Speaker 1: the top story in Washington today, up to fifteen million 16 00:00:57,600 --> 00:01:00,960 Speaker 1: more barrels of crude from our emerging see stockpile to 17 00:01:01,040 --> 00:01:03,840 Speaker 1: keep gas prices from rising. But will it work? We'll 18 00:01:03,840 --> 00:01:06,840 Speaker 1: talk with Bob McNally of Rapid Dan Energy, author of 19 00:01:06,880 --> 00:01:10,160 Speaker 1: the book Crude Volatility. Later, it was Fight Night for 20 00:01:10,240 --> 00:01:13,200 Speaker 1: Senate candidates in Ohio and Utah. We'll talk to bates 21 00:01:13,240 --> 00:01:16,800 Speaker 1: and races with Bloomberg Government's Jack Fitzpatrick, who's on the 22 00:01:16,800 --> 00:01:20,920 Speaker 1: ground for round two in Youngstown. Analysis from our signature 23 00:01:20,920 --> 00:01:24,840 Speaker 1: panel Bloomberg Politics contributors Rick Davis and Jeannie Chanzano. There 24 00:01:24,840 --> 00:01:27,320 Speaker 1: were us. The President not expected to say it out 25 00:01:27,319 --> 00:01:30,560 Speaker 1: loud until tomorrow, but Bloomberg broke the news early today. 26 00:01:30,600 --> 00:01:34,200 Speaker 1: The administration is set to release more oil, at least 27 00:01:34,240 --> 00:01:37,000 Speaker 1: another ten to fifteen million barrels of crude from the 28 00:01:37,200 --> 00:01:40,119 Speaker 1: spr White House Press Secretary Koreine John Pierre was asked 29 00:01:40,120 --> 00:01:42,960 Speaker 1: about it early in the briefing today and well, she 30 00:01:43,000 --> 00:01:44,720 Speaker 1: wasn't about to step in front of the president. He 31 00:01:44,760 --> 00:01:46,840 Speaker 1: said last week he would have more to share on 32 00:01:47,040 --> 00:01:50,040 Speaker 1: what he is doing to bring gas prices or what 33 00:01:50,120 --> 00:01:52,280 Speaker 1: he will continue to do to bring gas prices down. 34 00:01:52,320 --> 00:01:54,000 Speaker 1: But I do want to add a couple of things here. 35 00:01:54,360 --> 00:01:57,639 Speaker 1: Gas prices have fallen by a dollar and fifteen cents 36 00:01:57,720 --> 00:02:00,720 Speaker 1: from their peak, which was not too long ago. The 37 00:02:00,880 --> 00:02:04,200 Speaker 1: ninety eight consecutive day declined this summer was the fastest 38 00:02:04,200 --> 00:02:06,480 Speaker 1: in over a decade. There you are, in case you're 39 00:02:06,480 --> 00:02:08,720 Speaker 1: playing along on your home game a hundred to make 40 00:02:08,800 --> 00:02:12,480 Speaker 1: that a dollar fifteen. But of course we were looking 41 00:02:12,520 --> 00:02:16,080 Speaker 1: at hundred dollar a barrel oil not that long ago, 42 00:02:16,880 --> 00:02:20,040 Speaker 1: and we have seen a bit of a creep higher 43 00:02:20,120 --> 00:02:22,160 Speaker 1: where we are today. It was just heard from Charlie 44 00:02:22,160 --> 00:02:27,240 Speaker 1: Pale sixty two for w t I. Gasoline is another issue, though, 45 00:02:27,240 --> 00:02:31,000 Speaker 1: another matter, and this would complete the original plan rolled 46 00:02:31,000 --> 00:02:33,680 Speaker 1: out in the spring to be clear to release a 47 00:02:33,720 --> 00:02:35,880 Speaker 1: total of a hundred eighty million barrels. This would bring 48 00:02:35,960 --> 00:02:38,000 Speaker 1: us to that point. The White House now also needs 49 00:02:38,000 --> 00:02:42,520 Speaker 1: to talk about replenishing, refilling the SPR. We talked about 50 00:02:42,560 --> 00:02:45,000 Speaker 1: it all with Bob McNally, founder and president of energy 51 00:02:45,000 --> 00:02:49,079 Speaker 1: consulting firm Rapid and Energy, author of the book Crude Volatility, 52 00:02:49,120 --> 00:02:52,960 Speaker 1: The History and Future of Boom Bust Oil Prices, and 53 00:02:53,000 --> 00:02:55,200 Speaker 1: I'm thinking you could probably write another volume now, Bob, 54 00:02:55,240 --> 00:02:57,800 Speaker 1: welcome back. Well this actually make a difference to prices 55 00:02:57,880 --> 00:03:01,919 Speaker 1: between now and November eight. Well, you know, we're thanks, Joe, 56 00:03:01,919 --> 00:03:04,360 Speaker 1: we're pricing it in already. We're down today on the 57 00:03:04,360 --> 00:03:06,600 Speaker 1: news that Bloomberg broke, and others are now start to 58 00:03:06,639 --> 00:03:09,440 Speaker 1: pick up that the President is likely to include an 59 00:03:09,520 --> 00:03:12,480 Speaker 1: SPR draw And you know, I would say fifteen million 60 00:03:12,480 --> 00:03:14,560 Speaker 1: barrels is probably the minimum. I mean, he has the 61 00:03:14,600 --> 00:03:18,959 Speaker 1: option of speeding up some congressionally mandated sales and going higher. So, 62 00:03:19,440 --> 00:03:22,880 Speaker 1: you know, I think that's that's being priced in right now. Um, 63 00:03:22,960 --> 00:03:26,240 Speaker 1: you know, no, I think the main reason oil prices 64 00:03:26,240 --> 00:03:29,840 Speaker 1: have tumbled since the summer is that recession risks have 65 00:03:30,160 --> 00:03:33,440 Speaker 1: in China, and China slowdown has sort of overtaken the 66 00:03:33,520 --> 00:03:37,000 Speaker 1: narrative from Russia disruption, which sort of dominated in the 67 00:03:37,080 --> 00:03:39,080 Speaker 1: second quarter. Right, we went from eighty to almost one 68 00:03:39,160 --> 00:03:41,440 Speaker 1: forty on Russia. We thought we're gonna lose three million 69 00:03:41,440 --> 00:03:43,400 Speaker 1: barrels a day. In April, the wolf didn't come in 70 00:03:43,440 --> 00:03:47,720 Speaker 1: the village. Recession took over, and notwithstanding the OPEC plus cut, 71 00:03:47,760 --> 00:03:49,440 Speaker 1: which did give us a little bit of a rally, 72 00:03:49,760 --> 00:03:52,800 Speaker 1: you know, we're back into recession fears and headed down, 73 00:03:52,800 --> 00:03:54,760 Speaker 1: I think. And the Saudi Arabia showed up in the 74 00:03:54,840 --> 00:03:56,880 Speaker 1: village though, right, and that you know that just the 75 00:03:56,920 --> 00:04:01,640 Speaker 1: whiff of cutting production got prices moving higher again, that's right. 76 00:04:01,680 --> 00:04:03,600 Speaker 1: I mean, I think the market was surprised by the 77 00:04:03,640 --> 00:04:05,760 Speaker 1: size of the quota cut. Two million barrels a day, 78 00:04:05,840 --> 00:04:08,200 Speaker 1: which is going to mean about one million barrels a day, 79 00:04:08,200 --> 00:04:10,280 Speaker 1: a real cuts. But you know that's after they were 80 00:04:10,320 --> 00:04:12,720 Speaker 1: actually increasing production a little bit in September, So it 81 00:04:12,800 --> 00:04:15,360 Speaker 1: was quite a turn about surprise the market. But look 82 00:04:15,440 --> 00:04:19,279 Speaker 1: right after that we just started heading down again. Well, 83 00:04:19,680 --> 00:04:22,400 Speaker 1: White House economic advisor Brandes was talking about this, this 84 00:04:22,480 --> 00:04:25,560 Speaker 1: is just two weeks ago, speaking to the benefit of 85 00:04:25,640 --> 00:04:27,760 Speaker 1: releasing this oil from the spr I want you to 86 00:04:27,760 --> 00:04:29,760 Speaker 1: listen to the way he put it, Bob, and will 87 00:04:29,839 --> 00:04:31,760 Speaker 1: will have you replied, you don't have to take my 88 00:04:31,800 --> 00:04:35,080 Speaker 1: work for if you look at most serious oil market analysts, 89 00:04:35,080 --> 00:04:37,240 Speaker 1: they would say, you know, one of the most significant 90 00:04:37,720 --> 00:04:41,440 Speaker 1: drivers of blunting oil price increases over the last set 91 00:04:41,440 --> 00:04:43,599 Speaker 1: of three or four months was the president's decision to 92 00:04:43,640 --> 00:04:45,880 Speaker 1: release a million barrels a day from the Strateina controllings. 93 00:04:46,080 --> 00:04:47,960 Speaker 1: So one of the most significant, I guess you can 94 00:04:48,000 --> 00:04:49,919 Speaker 1: couch that a little bit, Bob, But your point is 95 00:04:49,960 --> 00:04:52,320 Speaker 1: that many other factors were involved here, and if that's 96 00:04:52,360 --> 00:04:56,440 Speaker 1: the case, why release more? Well no, yeah, I would 97 00:04:56,480 --> 00:04:58,920 Speaker 1: call it one of the factors, not the most significant. 98 00:04:58,960 --> 00:05:02,719 Speaker 1: I think the mostificate was the failure of Russians supply 99 00:05:03,000 --> 00:05:05,840 Speaker 1: to collapse this summer. Just hard to overstate how important 100 00:05:05,839 --> 00:05:08,599 Speaker 1: that was for the rally earlier this year. Secondly it 101 00:05:08,720 --> 00:05:11,680 Speaker 1: was China, uh, and it's slowed down and in the 102 00:05:11,800 --> 00:05:15,360 Speaker 1: SI shimping sort of quote unquote reelection reappointment and what 103 00:05:15,440 --> 00:05:18,040 Speaker 1: that means for shutdowns and so forth. So it's a factor. 104 00:05:18,400 --> 00:05:20,560 Speaker 1: You know, it kept commercial inventories from drawing more than 105 00:05:20,600 --> 00:05:22,320 Speaker 1: they would have, but I wouldn't call it one of 106 00:05:22,360 --> 00:05:25,000 Speaker 1: the most significant factors. Look, you can only play this 107 00:05:25,040 --> 00:05:26,799 Speaker 1: game for so long, right, we have about four hundred 108 00:05:26,800 --> 00:05:29,719 Speaker 1: million barrels left. They can keep on draining it. But 109 00:05:29,760 --> 00:05:31,960 Speaker 1: you know, at some point you mentioned refilling. They're gonna 110 00:05:32,000 --> 00:05:34,000 Speaker 1: have to refill if they want to have a strategic asset. 111 00:05:34,080 --> 00:05:36,320 Speaker 1: And so I've always said, you know, this isn't like 112 00:05:36,360 --> 00:05:39,920 Speaker 1: going going against OPEC plus with the sprs, like going 113 00:05:39,960 --> 00:05:41,880 Speaker 1: into a fight with you know, the guys that they 114 00:05:41,920 --> 00:05:44,080 Speaker 1: came forty seven with a square guns. Right, It's a 115 00:05:44,200 --> 00:05:46,960 Speaker 1: finite resource. You get to use it once. And I 116 00:05:46,960 --> 00:05:48,839 Speaker 1: think this is going to make the coming boom cycle 117 00:05:48,880 --> 00:05:51,720 Speaker 1: in oil prices even boom. Here if we just depleted 118 00:05:51,720 --> 00:05:54,280 Speaker 1: this emergency stockpile. So you can only use this thing once. 119 00:05:55,400 --> 00:05:58,360 Speaker 1: We heard from the White House Jared Bernstein, another economic advisor, 120 00:05:58,440 --> 00:06:01,200 Speaker 1: that that that the strategic reserves about half full right now. 121 00:06:01,920 --> 00:06:04,679 Speaker 1: I don't know if that is drives with the numbers 122 00:06:04,680 --> 00:06:07,359 Speaker 1: of barrels you're talking about, But at what point do 123 00:06:07,400 --> 00:06:10,359 Speaker 1: you start buying? I mean, this is lowering prices. Do 124 00:06:10,440 --> 00:06:12,839 Speaker 1: you kick out a whole bunch of oil kind of 125 00:06:12,880 --> 00:06:15,719 Speaker 1: push prices down? I realize you're manipulating the market, and 126 00:06:15,720 --> 00:06:19,760 Speaker 1: then start buying it back to stockpilot in the SPR. Yeah, 127 00:06:19,800 --> 00:06:22,680 Speaker 1: and it is. There's about five million barrels left. The 128 00:06:22,680 --> 00:06:25,479 Speaker 1: capacities seven and seventeen million barrels, so it's little over half. 129 00:06:25,960 --> 00:06:28,560 Speaker 1: Uh and uh, look, if you believe in the SPR 130 00:06:28,720 --> 00:06:30,280 Speaker 1: and uh and I think most people do. And I 131 00:06:30,320 --> 00:06:33,520 Speaker 1: think the Biden administration, to its credit, does You've got 132 00:06:33,520 --> 00:06:35,719 Speaker 1: to refill this thing now? Look, President Trump wanted to 133 00:06:35,760 --> 00:06:38,480 Speaker 1: refill it when oil prices were collapsing in the second 134 00:06:38,520 --> 00:06:41,040 Speaker 1: quarter of twenty and I think if we get a 135 00:06:41,080 --> 00:06:43,320 Speaker 1: big decline in oil prices, it would make sense. And 136 00:06:43,360 --> 00:06:46,120 Speaker 1: I would hope the administration would start to refill it. 137 00:06:46,160 --> 00:06:48,560 Speaker 1: I e. Buy low and uh, you know, don't sell 138 00:06:48,640 --> 00:06:50,359 Speaker 1: until you really need it kind of a thing. I 139 00:06:50,400 --> 00:06:52,400 Speaker 1: think they will. I think I think they you know, 140 00:06:52,400 --> 00:06:54,760 Speaker 1: there's been press reports they've been kicking around ideas for 141 00:06:54,800 --> 00:06:56,960 Speaker 1: how to refill it. They have a rule that would 142 00:06:56,960 --> 00:06:59,160 Speaker 1: make it easier for d OE to do so, and 143 00:06:59,200 --> 00:07:02,599 Speaker 1: so hopefully we'll hear something about refilling as well as drawing. 144 00:07:02,839 --> 00:07:05,600 Speaker 1: There's also an argument inside the White House right now, 145 00:07:05,640 --> 00:07:10,840 Speaker 1: Bob McNally about potentially banning or putting controls on oil exports, 146 00:07:10,880 --> 00:07:12,960 Speaker 1: and there's an argument about what that would actually do 147 00:07:13,080 --> 00:07:15,960 Speaker 1: to prices. It's not as simple as saying, hey, well 148 00:07:16,000 --> 00:07:19,080 Speaker 1: we've got more supply here. There could actually be uh 149 00:07:19,120 --> 00:07:22,280 Speaker 1: an increase in prices in some areas because of the patchwork, 150 00:07:22,360 --> 00:07:25,080 Speaker 1: the way the different ways the different regions of the 151 00:07:25,080 --> 00:07:28,120 Speaker 1: country work. The Northeast, for instance, imports a lot of 152 00:07:28,160 --> 00:07:31,200 Speaker 1: heating oil in the wintertime. Do you see that as 153 00:07:31,240 --> 00:07:34,120 Speaker 1: something that should happen and what effects would it have? Well, 154 00:07:34,160 --> 00:07:36,640 Speaker 1: here again, I would invoke Brian Deese and have have 155 00:07:36,760 --> 00:07:39,640 Speaker 1: your consult most energy experts, including me, and I think 156 00:07:39,680 --> 00:07:43,360 Speaker 1: we would say spanning exports of certainly of crude oil 157 00:07:43,400 --> 00:07:46,720 Speaker 1: would make gasoline prices and diesel prices go up. Okay, 158 00:07:46,760 --> 00:07:49,080 Speaker 1: would not help the consumer. Now, what's being discussed is 159 00:07:49,120 --> 00:07:53,200 Speaker 1: banning the export of refined products gasoline and distolate and 160 00:07:53,200 --> 00:07:55,800 Speaker 1: so forth. Look, if you didn't waive the Jones Act 161 00:07:55,880 --> 00:07:58,600 Speaker 1: and you couldn't use boats, prices would just go up 162 00:07:58,600 --> 00:08:00,760 Speaker 1: on the coasts right coast with don't have to import 163 00:08:00,840 --> 00:08:04,840 Speaker 1: higher hire barrels. Refiners would drop runs, We'd have less supply. 164 00:08:05,080 --> 00:08:07,320 Speaker 1: It would be an own goal, Joe, one of the 165 00:08:07,320 --> 00:08:10,960 Speaker 1: biggest owned goals and energy policy counterproductive. Now, look, if 166 00:08:11,000 --> 00:08:13,840 Speaker 1: you waive the Jones Act, which would upset the Maritime Union. 167 00:08:14,160 --> 00:08:16,720 Speaker 1: If you did that, you might get a few weeks 168 00:08:16,760 --> 00:08:19,640 Speaker 1: of lower oil prices, gasoline prices, but then they will 169 00:08:19,640 --> 00:08:22,680 Speaker 1: be higher later on. So I would defy you to 170 00:08:22,720 --> 00:08:25,840 Speaker 1: find a single energy expert who thinks that banning exports 171 00:08:26,240 --> 00:08:28,080 Speaker 1: is a good idea, even if you want to reduce 172 00:08:28,160 --> 00:08:32,240 Speaker 1: prices for consumers. Fascinating conversation. This is why you have 173 00:08:32,360 --> 00:08:35,200 Speaker 1: to bring in an expert on this stuff, because my god, 174 00:08:35,240 --> 00:08:37,440 Speaker 1: I can't imagine, Bob, what you think. People talk like 175 00:08:37,480 --> 00:08:40,120 Speaker 1: they know what they're talking about in the energy market, 176 00:08:40,160 --> 00:08:42,439 Speaker 1: and they're usually wrong. And so we reach out to 177 00:08:42,480 --> 00:08:44,720 Speaker 1: Bob mcdalan and I thank you Bob, founder and president 178 00:08:45,000 --> 00:08:47,960 Speaker 1: Rapid and Energy, his book Crude Volatility. I'm Joe Matthew 179 00:08:48,000 --> 00:08:50,880 Speaker 1: and Washington. This is the fastest hour in politics, which 180 00:08:50,920 --> 00:08:53,360 Speaker 1: is why we need to hear from the panel on this. 181 00:08:53,480 --> 00:08:56,840 Speaker 1: I know we've had this conversation a few what tens 182 00:08:56,920 --> 00:09:00,360 Speaker 1: of millions of barrels ago, But Jennie, Shannon Zano and 183 00:09:00,480 --> 00:09:04,760 Speaker 1: Rick Davis are with us our signature panel Bloomberg Politics contributors. Genie, 184 00:09:04,840 --> 00:09:07,080 Speaker 1: are we really doing this all over again here? Three 185 00:09:07,080 --> 00:09:09,559 Speaker 1: weeks before the election? My gosh. They they accused Joe 186 00:09:09,600 --> 00:09:13,880 Speaker 1: Biden of buying votes with debt, student loan debt forgiveness. Uh, 187 00:09:14,040 --> 00:09:17,720 Speaker 1: this would be even more direct, would it not? It 188 00:09:17,800 --> 00:09:20,120 Speaker 1: would And one of the questions if it worked in 189 00:09:20,120 --> 00:09:22,040 Speaker 1: One of the questions asked today is you know better 190 00:09:22,040 --> 00:09:24,920 Speaker 1: than I do? Was was of the Press secretary. Is 191 00:09:24,920 --> 00:09:27,280 Speaker 1: this employ ahead of the mid terms? And she did 192 00:09:27,360 --> 00:09:30,320 Speaker 1: not directly answer that question as far as I could tell. 193 00:09:30,720 --> 00:09:33,080 Speaker 1: But that's, you know, part of the challenge here for 194 00:09:33,200 --> 00:09:35,959 Speaker 1: the administration and Democrats. And I was struck again by 195 00:09:35,960 --> 00:09:39,400 Speaker 1: the fact she's still using Putin priceyche is they've wanted 196 00:09:39,440 --> 00:09:41,840 Speaker 1: to explain the higher prices as a result of the 197 00:09:41,920 --> 00:09:45,280 Speaker 1: Russian War in Putin and put that on his back. 198 00:09:45,679 --> 00:09:48,640 Speaker 1: And yet for voters that's not how they see it. 199 00:09:48,760 --> 00:09:52,199 Speaker 1: They see the prices as a result of the administration 200 00:09:52,280 --> 00:09:55,720 Speaker 1: and policy mistakes, and that's the difficulty the administration is facing. 201 00:09:55,880 --> 00:09:58,160 Speaker 1: And three weeks ago, I looks like they're going to 202 00:09:58,240 --> 00:10:00,880 Speaker 1: do this tomorrow. It does look get rick, Is it 203 00:10:00,960 --> 00:10:04,360 Speaker 1: a good idea? Well, I think that they're trying to 204 00:10:04,400 --> 00:10:08,440 Speaker 1: do everything they can to try and buy votes. And 205 00:10:08,840 --> 00:10:11,000 Speaker 1: like what you said that no question of student loan 206 00:10:11,040 --> 00:10:13,240 Speaker 1: program was just a vote buying mechanism. And this is 207 00:10:13,280 --> 00:10:15,760 Speaker 1: the same thing. I mean, oil price, gas prices already 208 00:10:15,760 --> 00:10:18,679 Speaker 1: going down every town almost ten cents in the last week. 209 00:10:19,000 --> 00:10:21,160 Speaker 1: I mean, what are they trying to accomplish? It isn't 210 00:10:21,200 --> 00:10:24,040 Speaker 1: already happening. And as Bob McNally said, you know, if 211 00:10:24,080 --> 00:10:27,679 Speaker 1: recession fears continue, that will help drive the price of 212 00:10:27,720 --> 00:10:30,280 Speaker 1: gas down. So you know they're gonna opec is cutting 213 00:10:30,400 --> 00:10:33,280 Speaker 1: right right exactly. So I don't really get what they're 214 00:10:33,320 --> 00:10:36,199 Speaker 1: hoping to achieve here other than a pr stunt. Fascinating 215 00:10:36,240 --> 00:10:38,679 Speaker 1: listening to Karine John Pierre kind of danced around these 216 00:10:38,760 --> 00:10:41,440 Speaker 1: questions knowing she couldn't make the announcement for Joe Biden. 217 00:10:41,440 --> 00:10:43,680 Speaker 1: He's going to do that tomorrow, But talk about the 218 00:10:43,720 --> 00:10:45,920 Speaker 1: work that's been done, and she decided to break it 219 00:10:45,960 --> 00:10:50,959 Speaker 1: down state by state. Fascinating because the choice of states 220 00:10:51,160 --> 00:10:55,319 Speaker 1: here there, they're basically all battleground states. They're basically all 221 00:10:55,360 --> 00:10:58,560 Speaker 1: states where we have major contests of the balance of 222 00:10:58,600 --> 00:11:00,800 Speaker 1: power here in Washington on the Let's listen, just to 223 00:11:00,800 --> 00:11:03,720 Speaker 1: give you a few states, California is down almost thirty 224 00:11:03,720 --> 00:11:08,520 Speaker 1: cents this week. Wisconsin is down over twenty cents this week. 225 00:11:08,600 --> 00:11:12,640 Speaker 1: Oregon is down over twenty cents this week. Michigan is 226 00:11:12,679 --> 00:11:17,800 Speaker 1: down about seventeen sixteen cents this week. Ohio and Indiana 227 00:11:17,880 --> 00:11:21,320 Speaker 1: are down thirteen cents this week. And so those are 228 00:11:21,320 --> 00:11:23,720 Speaker 1: the few states that we're seeing the sharp declines that 229 00:11:23,720 --> 00:11:26,160 Speaker 1: are not they're not coming down. Is that a coincidence, Genie, 230 00:11:26,160 --> 00:11:29,160 Speaker 1: that all those states were chosen? No coincidence. And you 231 00:11:29,200 --> 00:11:32,840 Speaker 1: know again, I kept thinking, if they're declining and she's 232 00:11:32,880 --> 00:11:35,720 Speaker 1: going through them so methodically, the decline, why are they 233 00:11:35,760 --> 00:11:39,160 Speaker 1: going to release now or tomorrow? And you know, she 234 00:11:39,240 --> 00:11:41,640 Speaker 1: didn't really have an answer for that that I thought 235 00:11:41,760 --> 00:11:44,960 Speaker 1: was you know, resounding or convincing. Rick and Genie stay 236 00:11:45,040 --> 00:11:47,400 Speaker 1: with us for the hour our signature panel. As we 237 00:11:47,520 --> 00:11:51,400 Speaker 1: turned next to as well funding for the war in Ukraine. 238 00:11:51,440 --> 00:11:55,560 Speaker 1: There's a big overlap in these two stories here. And 239 00:11:55,559 --> 00:11:57,240 Speaker 1: the man who wants to hold the gavel in the 240 00:11:57,280 --> 00:12:00,760 Speaker 1: House says there could be some controls on money headed 241 00:12:00,800 --> 00:12:04,079 Speaker 1: from the US to Ukraine. More ahead, This is Bloomberg. 242 00:12:06,520 --> 00:12:10,880 Speaker 1: You're listening to Bloomberg Sound On with Joe Matthew on 243 00:12:11,040 --> 00:12:16,880 Speaker 1: Bloomberg Radio. A big part of the conversation today inside 244 00:12:16,920 --> 00:12:21,000 Speaker 1: the White House went from oil prices, energy prices and 245 00:12:21,040 --> 00:12:25,480 Speaker 1: the putin price hike, as Genie reminded us, and the 246 00:12:25,520 --> 00:12:29,360 Speaker 1: administration likes to call it to funding for the war 247 00:12:29,480 --> 00:12:33,880 Speaker 1: in Ukraine. This of course, after Kevin McCarthy got the 248 00:12:33,920 --> 00:12:38,959 Speaker 1: conversation started, he spoke with puncha bowl and of course 249 00:12:39,080 --> 00:12:40,960 Speaker 1: he's pretty sure he's going to be the Speaker of 250 00:12:40,960 --> 00:12:43,800 Speaker 1: the House in a few weeks. Quote. I think people 251 00:12:43,840 --> 00:12:45,640 Speaker 1: are gonna be sitting in a recession and they're not 252 00:12:45,640 --> 00:12:48,240 Speaker 1: going to write a blank check to Ukraine. He said, 253 00:12:48,280 --> 00:12:52,079 Speaker 1: they just won't do it. It's not a free blank check. 254 00:12:54,320 --> 00:12:55,839 Speaker 1: Then he went on to talk about the things of 255 00:12:55,840 --> 00:12:58,480 Speaker 1: Biden administration is not doing that will cost money, like 256 00:12:58,520 --> 00:13:01,680 Speaker 1: the border Ukraine is import and he says again quoting, 257 00:13:02,320 --> 00:13:04,679 Speaker 1: but at the same time. It cannot be the only 258 00:13:04,720 --> 00:13:07,040 Speaker 1: thing they do, and it cannot be a blank check. 259 00:13:07,760 --> 00:13:12,440 Speaker 1: Mark Warner, Senator from Virginia, speaking with Bloomberg today, spoke 260 00:13:12,480 --> 00:13:14,839 Speaker 1: to David West and on balance of power about this issue. 261 00:13:14,880 --> 00:13:17,720 Speaker 1: It's not the first time we've heard this from some 262 00:13:17,840 --> 00:13:22,200 Speaker 1: elements of the right, but never from a mainstream politician 263 00:13:22,280 --> 00:13:24,760 Speaker 1: like Kevin McCarthy. I do fear that there is this 264 00:13:25,160 --> 00:13:30,920 Speaker 1: Trump led America alone contingent that could have greatly increased 265 00:13:30,960 --> 00:13:34,080 Speaker 1: power in the House, and a Republican House next year 266 00:13:34,880 --> 00:13:38,840 Speaker 1: could undermine that support America alone. Remembering, of course Warner 267 00:13:39,000 --> 00:13:41,920 Speaker 1: is on the Intelligence Committee, He's deep inside this conversation 268 00:13:41,960 --> 00:13:43,960 Speaker 1: when it comes to funding. Karine John Pierre, the Press 269 00:13:44,000 --> 00:13:46,840 Speaker 1: secretary at the White House, we thank leaders across the 270 00:13:46,920 --> 00:13:50,560 Speaker 1: House and Senate, Republicans and Democrats. As I've just just said, 271 00:13:50,559 --> 00:13:53,280 Speaker 1: it was a bipartisan effort who are working with us 272 00:13:53,320 --> 00:13:57,640 Speaker 1: to hold putin accountable and support Ukraine to defend itself 273 00:13:57,640 --> 00:14:00,680 Speaker 1: from Russia's war crimes and atrocities. So this is again 274 00:14:00,720 --> 00:14:04,320 Speaker 1: we're gonna closely engage, We're going to closely monitor these, 275 00:14:04,440 --> 00:14:08,600 Speaker 1: uh these discussions. Don't want to get ahead of what 276 00:14:08,840 --> 00:14:12,480 Speaker 1: what what Congress might look like, uh, next year. I 277 00:14:12,760 --> 00:14:15,760 Speaker 1: don't want to go into hypotheticals, but again, we're going 278 00:14:15,800 --> 00:14:19,240 Speaker 1: to continue to engage with Congress. Very careful, very careful 279 00:14:19,280 --> 00:14:23,440 Speaker 1: answer there. We want to us upset anybody before Congress 280 00:14:23,480 --> 00:14:25,320 Speaker 1: comes back to town and we have to talk this out. 281 00:14:26,080 --> 00:14:28,320 Speaker 1: Let's assemble the panel to get around on this, because 282 00:14:28,440 --> 00:14:31,440 Speaker 1: it is interesting we start talking about holding putin accountable. 283 00:14:32,840 --> 00:14:36,200 Speaker 1: That would be another way of looking at the spr 284 00:14:36,280 --> 00:14:39,960 Speaker 1: release if it did in fact lower prices. Rick Davis 285 00:14:39,960 --> 00:14:42,760 Speaker 1: and Jeannie Chanzano are with us. Rick, is this about 286 00:14:42,800 --> 00:14:44,400 Speaker 1: to happen? This is going to be a conversation. And 287 00:14:44,640 --> 00:14:47,360 Speaker 1: we've gone down this road before on this program, but 288 00:14:47,440 --> 00:14:49,600 Speaker 1: a new Republican majority in the House could mean it 289 00:14:49,680 --> 00:14:53,200 Speaker 1: more difficult conversation about funding Ukraine. Yeah, it's definitely a 290 00:14:53,240 --> 00:14:55,160 Speaker 1: bigger conversation in the House, and it would be in 291 00:14:55,160 --> 00:14:58,680 Speaker 1: the Senate. Although there were eleven senators GOP senators who 292 00:14:58,760 --> 00:15:02,480 Speaker 1: voted against the forty in dollar supplement in May. So, um, 293 00:15:02,640 --> 00:15:04,640 Speaker 1: you know, and and and as you point out, this 294 00:15:04,680 --> 00:15:07,320 Speaker 1: starts with the leadership. This is not like a renegade 295 00:15:07,320 --> 00:15:10,120 Speaker 1: group of Republicans who want to cause trouble, you know, 296 00:15:10,200 --> 00:15:13,400 Speaker 1: this is it includes Steven Scalise and you know at 297 00:15:13,480 --> 00:15:16,920 Speaker 1: least Stephonic and you know the Whip and the number three. 298 00:15:17,000 --> 00:15:19,800 Speaker 1: So like this is the entire leadership of the Republican 299 00:15:20,280 --> 00:15:24,240 Speaker 1: House of Representatives talking about going soft on Ukraine. And 300 00:15:24,320 --> 00:15:28,360 Speaker 1: it's uh, it's a big departure for Republicans. Giving away 301 00:15:28,360 --> 00:15:32,120 Speaker 1: a national security issue like this to Democrats would be 302 00:15:32,240 --> 00:15:35,760 Speaker 1: a massive disappointment to most of the what I would 303 00:15:35,760 --> 00:15:39,560 Speaker 1: call old school Republican orthodoxy on you know, sort of 304 00:15:39,560 --> 00:15:42,760 Speaker 1: the hawks in foreign policy. Would it leave Genie of 305 00:15:42,840 --> 00:15:46,920 Speaker 1: the bid deministration uh, to its own devices? I mean 306 00:15:46,960 --> 00:15:49,120 Speaker 1: they can can they can continue to send things to 307 00:15:49,280 --> 00:15:53,320 Speaker 1: Ukraine and draw down our own AMMO in the process. 308 00:15:54,040 --> 00:15:56,800 Speaker 1: They can, but of course they also want to push 309 00:15:56,840 --> 00:16:00,280 Speaker 1: a big package through of aid that is needed. I mean, 310 00:16:00,520 --> 00:16:03,360 Speaker 1: let's not forget what's happened in Ukraine with the Russian 311 00:16:03,400 --> 00:16:06,600 Speaker 1: missile strikes just in the last twenty four hours. The 312 00:16:06,680 --> 00:16:09,840 Speaker 1: attacks on the energy sector have been dramatic and they've 313 00:16:09,840 --> 00:16:13,440 Speaker 1: been debilitating. Reports are thirty percent of their electrical generating 314 00:16:13,440 --> 00:16:17,040 Speaker 1: capacity is now down. If this keeps up, whereas Russia 315 00:16:17,040 --> 00:16:19,720 Speaker 1: has been losing on the front lines, they can pressure 316 00:16:19,760 --> 00:16:22,680 Speaker 1: the Ukrainian government, the people, they will need more support 317 00:16:22,680 --> 00:16:25,440 Speaker 1: from the United States. And who is leading this charge. 318 00:16:25,760 --> 00:16:28,160 Speaker 1: We hear it from people like Tucker Carlson, We hear 319 00:16:28,200 --> 00:16:30,720 Speaker 1: it from people like Seapack, and then you have J. D. Vance, 320 00:16:30,720 --> 00:16:33,480 Speaker 1: Blake Masters, and others running for the Senate. So this 321 00:16:33,600 --> 00:16:36,840 Speaker 1: is going to be a growing chorus of Republicans. And 322 00:16:36,880 --> 00:16:39,440 Speaker 1: to Rick's point, this is a far cry from where 323 00:16:39,480 --> 00:16:43,360 Speaker 1: the traditional Republican Party was. And if they go in 324 00:16:43,400 --> 00:16:46,760 Speaker 1: this America's first direction, it is going to be seeding 325 00:16:46,760 --> 00:16:49,720 Speaker 1: to the Democrats the upper hand on foreign policy, and 326 00:16:49,720 --> 00:16:52,840 Speaker 1: more importantly, it is going to leave the entire Ukrainian 327 00:16:52,880 --> 00:16:56,840 Speaker 1: population vulnerable to Russia. Was that America First or America alone? 328 00:16:56,960 --> 00:16:59,960 Speaker 1: As Senator Warner said Rick, Yeah, I think it becomes 329 00:17:00,880 --> 00:17:04,359 Speaker 1: America alone because our European allies are totally committed to this, 330 00:17:04,400 --> 00:17:06,520 Speaker 1: and they're gonna feel the pinch by their own decisions. Right, 331 00:17:06,560 --> 00:17:09,080 Speaker 1: They're gonna have a very cold winder based on their 332 00:17:09,119 --> 00:17:12,800 Speaker 1: willingness to support Ukraine, and they're gonna if we leave 333 00:17:12,880 --> 00:17:15,680 Speaker 1: them out to dry come November. Um, you know we're 334 00:17:15,720 --> 00:17:19,439 Speaker 1: gonna We're not just upsetting Ukraine, We're upsetting the the 335 00:17:19,480 --> 00:17:21,840 Speaker 1: Western alliance and it could mean a lot more in 336 00:17:21,840 --> 00:17:24,560 Speaker 1: the future than just Ukraine. Well, the timing is something 337 00:17:24,600 --> 00:17:27,680 Speaker 1: here as this. You know, this group United which is 338 00:17:27,760 --> 00:17:31,359 Speaker 1: raising money on behalf of the Ukrainian government, UH is 339 00:17:31,440 --> 00:17:36,280 Speaker 1: making a great case for anybody, not governments, but civilians 340 00:17:36,359 --> 00:17:40,920 Speaker 1: to contribute to the cause. Here President Zelenski went to 341 00:17:40,960 --> 00:17:44,280 Speaker 1: talk to Wall Street if you remember, not that long ago, 342 00:17:44,359 --> 00:17:47,800 Speaker 1: virtually of course, to ask for help in in providing 343 00:17:47,800 --> 00:17:50,119 Speaker 1: money not just for the war effort, but rebuilding Ukraine. 344 00:17:50,160 --> 00:17:53,520 Speaker 1: My god, Jeanie. Luke Skywalker is even on board this thing. 345 00:17:53,600 --> 00:17:57,600 Speaker 1: Mark Hamill is now the ambassador, one of several celebrity ambassadors, 346 00:17:57,840 --> 00:18:00,160 Speaker 1: I believe he was the ambassador of drones or some things, 347 00:18:00,200 --> 00:18:03,119 Speaker 1: signing on to United to make the case could this 348 00:18:03,200 --> 00:18:07,119 Speaker 1: become a private fundraising enterprise? It could? And who can 349 00:18:07,160 --> 00:18:10,400 Speaker 1: say no to Luke Skywalker? Marx all love him. Um, 350 00:18:10,480 --> 00:18:12,919 Speaker 1: you know it could. But you know, certainly you do 351 00:18:13,119 --> 00:18:16,600 Speaker 1: need the support of the NATO, you need the support 352 00:18:16,640 --> 00:18:18,520 Speaker 1: of our allies, You need the support of the United 353 00:18:18,520 --> 00:18:20,679 Speaker 1: States government as much as the private sector can do, 354 00:18:21,000 --> 00:18:23,320 Speaker 1: and that is very important. The public sector has got 355 00:18:23,320 --> 00:18:25,280 Speaker 1: a step in. And here's where I think the Biden 356 00:18:25,320 --> 00:18:29,000 Speaker 1: administration has to explain where the sixty billion went and 357 00:18:29,040 --> 00:18:31,719 Speaker 1: why it's important. You can't just send it and not 358 00:18:31,800 --> 00:18:35,240 Speaker 1: talk about it. All comes down to the receipts. Rick 359 00:18:35,280 --> 00:18:36,880 Speaker 1: and Janie are with us for the hour. I'm Joe 360 00:18:36,960 --> 00:18:40,680 Speaker 1: Matthew in Washington as we turn to fight night in Ohio. 361 00:18:41,440 --> 00:18:45,040 Speaker 1: Jack Fitzpatrick will join us from Halima. Following last night's 362 00:18:45,040 --> 00:18:48,359 Speaker 1: Senate debate, It's next. I'm Joe Matthew. This is Bloomberg. 363 00:18:49,359 --> 00:18:52,600 Speaker 1: The second round between Democratic Congressman Tim Ryan and j 364 00:18:52,720 --> 00:18:56,600 Speaker 1: D Vance covered a lot of ground last night in Ohio. 365 00:18:56,760 --> 00:19:01,919 Speaker 1: Youngstown was the scene. They talked inflation, they talked abortion, 366 00:19:02,040 --> 00:19:05,080 Speaker 1: they talked crime and the border. But the debate also 367 00:19:05,680 --> 00:19:09,320 Speaker 1: at times devolved into a brawl. You were calling Trump 368 00:19:10,280 --> 00:19:14,800 Speaker 1: America's hitler. Then he kissed his ass, it is true. 369 00:19:15,480 --> 00:19:18,639 Speaker 1: And then you kissed his ass, and then he endorsed you, 370 00:19:19,080 --> 00:19:21,120 Speaker 1: and you said he's the greatest president of all time. 371 00:19:22,200 --> 00:19:26,000 Speaker 1: Mitch McConnell gave you forty million dollars to prop up 372 00:19:26,040 --> 00:19:29,720 Speaker 1: your campaign. Peter Tell gave you fifteen million dollars. That's 373 00:19:29,800 --> 00:19:34,440 Speaker 1: fifty five million dollars. J D. What do you think 374 00:19:34,440 --> 00:19:37,679 Speaker 1: they want for that they want your loyalty and you 375 00:19:37,800 --> 00:19:40,719 Speaker 1: proved that you'll kiss their ass too. We've heard that 376 00:19:40,800 --> 00:19:44,119 Speaker 1: line before. He brought it around again. J d Vance, 377 00:19:44,160 --> 00:19:48,680 Speaker 1: of course, reminding us that Tim Ryan said these things 378 00:19:48,720 --> 00:19:51,680 Speaker 1: about the speaker, Nancy Pelos. I I know the President 379 00:19:51,800 --> 00:19:54,000 Speaker 1: very well, and absolutely he was joking about a New 380 00:19:54,080 --> 00:19:56,840 Speaker 1: York Times story. That's all he was doing. I didn't 381 00:19:56,880 --> 00:19:58,760 Speaker 1: take offense to it. I talked to the President before it. 382 00:19:58,960 --> 00:20:01,320 Speaker 1: I talked to the President a to words. Everybody there 383 00:20:01,359 --> 00:20:03,520 Speaker 1: took it as a joke. This guy goes on National 384 00:20:03,560 --> 00:20:06,639 Speaker 1: TV and says, I love Nancy Pelosi, has the audacity 385 00:20:06,680 --> 00:20:09,200 Speaker 1: of accusing me of kissing anyone's rear end. It's pretty 386 00:20:09,280 --> 00:20:12,520 Speaker 1: rich that that was the nice part. Once things got 387 00:20:12,520 --> 00:20:16,520 Speaker 1: to replacement theory and some of the more extreme issues 388 00:20:16,560 --> 00:20:20,880 Speaker 1: out there, if I can call them, that, the moderators 389 00:20:20,880 --> 00:20:23,879 Speaker 1: had their work cut out for him, much like Bloomberg 390 00:20:23,880 --> 00:20:28,160 Speaker 1: Government Congress reporter Jack Fitzpatrick, our friend here at Bloomberg 391 00:20:28,240 --> 00:20:31,040 Speaker 1: sound On, who is in Ohio and actually talked to 392 00:20:31,040 --> 00:20:33,359 Speaker 1: Tim Ryan a little while ago. Today he's in Lima, 393 00:20:33,760 --> 00:20:36,080 Speaker 1: and Jack, I assume that's because both candidates hit the 394 00:20:36,080 --> 00:20:39,640 Speaker 1: trail after their debate what are they up to today. Yeah, 395 00:20:39,640 --> 00:20:42,240 Speaker 1: they've they've been on the trail. Tim Ryan came to 396 00:20:42,440 --> 00:20:45,840 Speaker 1: Lima to talk to local Democrats at the local chapter 397 00:20:45,920 --> 00:20:49,800 Speaker 1: of the vf w UH, talked about the debate, kind 398 00:20:49,800 --> 00:20:53,520 Speaker 1: of did that spin room, you know, rehashed some of 399 00:20:53,560 --> 00:20:56,960 Speaker 1: his greatest hits from it. J. D. Vance is on 400 00:20:57,000 --> 00:20:59,199 Speaker 1: the trail. I've got some events for him tomorrow, so 401 00:20:59,280 --> 00:21:01,760 Speaker 1: we'll follow with him on some of the key issues. 402 00:21:02,200 --> 00:21:04,800 Speaker 1: But I can certainly tell you right now the big 403 00:21:04,840 --> 00:21:11,480 Speaker 1: message from Ryan is especially speaking to Democrats, tying J. D. 404 00:21:11,640 --> 00:21:14,920 Speaker 1: Vance to National Republicans. Ted Cruz is coming to town 405 00:21:15,280 --> 00:21:18,199 Speaker 1: UH sometime in the next week for an event with 406 00:21:18,280 --> 00:21:22,280 Speaker 1: him going over those Trump lines, basically saying that that 407 00:21:22,400 --> 00:21:25,919 Speaker 1: he Ryan is the real Ohio and and Vance, you know, 408 00:21:26,040 --> 00:21:28,160 Speaker 1: left and went to San Francisco and came back. That's 409 00:21:28,240 --> 00:21:30,680 Speaker 1: a pretty cree message that he's pushing when he's talking 410 00:21:30,680 --> 00:21:33,920 Speaker 1: to Democrats, especially, Yeah, tying him to extremists. He spent 411 00:21:33,960 --> 00:21:35,720 Speaker 1: quite a bit of time, Tim Ryan spent quite a 412 00:21:35,720 --> 00:21:37,320 Speaker 1: bit of time doing this last night with J. D. 413 00:21:37,400 --> 00:21:39,920 Speaker 1: Vance and not just Donald Trump. Marjorie Tayler Green's your point, 414 00:21:39,960 --> 00:21:42,240 Speaker 1: Ted Cruz, here's a taste I think it is grounded 415 00:21:42,320 --> 00:21:46,960 Speaker 1: in some of the most racial divisive, racially divisive writings 416 00:21:46,960 --> 00:21:48,879 Speaker 1: in the history of the worship. Not here by the 417 00:21:48,920 --> 00:21:50,679 Speaker 1: way that Tim Ryan, I want to be fair, was 418 00:21:50,760 --> 00:21:53,880 Speaker 1: asked about replacement theory because this has been coming up 419 00:21:54,520 --> 00:21:57,920 Speaker 1: on the campaign trail with with some Republican candidates. That's 420 00:21:57,920 --> 00:22:02,400 Speaker 1: been around frankly going back to uh the Trump administration. 421 00:22:02,440 --> 00:22:04,960 Speaker 1: Here's Tim Ryan answering that I think it is grounded 422 00:22:05,040 --> 00:22:09,640 Speaker 1: in some of the most racial divisive, racially divisive writings 423 00:22:09,680 --> 00:22:12,560 Speaker 1: in the history of the world. And this is who 424 00:22:12,560 --> 00:22:16,520 Speaker 1: he's running around with talking about replacement theory. There's no big, 425 00:22:16,520 --> 00:22:19,239 Speaker 1: grand conspiracy. This is the country has been enriched by 426 00:22:19,280 --> 00:22:23,800 Speaker 1: immigrants from all quarters of the world, and there's no 427 00:22:24,240 --> 00:22:28,200 Speaker 1: in the problem. Shameful for danger that family dange. Shameful 428 00:22:28,200 --> 00:22:31,080 Speaker 1: for you to accuse my turn, power, my turn, Oh buddy, 429 00:22:31,119 --> 00:22:34,359 Speaker 1: my turn. What you said, I'm here, I'm your guy. Okay, Well, 430 00:22:34,400 --> 00:22:37,399 Speaker 1: here's the thing. J. D. Vance had quite a reply 431 00:22:37,520 --> 00:22:40,320 Speaker 1: ready for that. Jack. Here's what he said. That's exactly 432 00:22:40,320 --> 00:22:43,280 Speaker 1: what happens when the media and people like Tim Ryan 433 00:22:43,600 --> 00:22:46,480 Speaker 1: accused me of engaging the great great replacement theory. Also 434 00:22:46,680 --> 00:22:50,000 Speaker 1: battling it. I'll exactly what happens to Tim. What happens 435 00:22:50,119 --> 00:22:53,879 Speaker 1: is that my own children, my biracial children, get attacked 436 00:22:53,920 --> 00:22:58,120 Speaker 1: by scumbags online and in person because you are so 437 00:22:58,359 --> 00:23:02,280 Speaker 1: desperate for political power that you'll accuse me, the father 438 00:23:02,359 --> 00:23:05,960 Speaker 1: of three beautiful biracial babies, of engaging in racism. We 439 00:23:06,040 --> 00:23:08,399 Speaker 1: are sick of it. You can believe in a border 440 00:23:08,440 --> 00:23:11,920 Speaker 1: without being a racist, you can believe in the country 441 00:23:12,000 --> 00:23:15,000 Speaker 1: without being a racist. Well, it's a lot there, Jack. 442 00:23:15,480 --> 00:23:17,960 Speaker 1: Did j d Vance shut down that line of attack 443 00:23:18,200 --> 00:23:22,600 Speaker 1: from Tim Ryan or did it continue today? Uh? You know, 444 00:23:23,160 --> 00:23:28,000 Speaker 1: the part about the great replacement theory did not continue 445 00:23:28,040 --> 00:23:31,600 Speaker 1: in today's event with Tim Ryan. I would say, though 446 00:23:31,960 --> 00:23:34,440 Speaker 1: it would be hard to say he absolutely shut it down. 447 00:23:34,760 --> 00:23:37,920 Speaker 1: There was a scrum with reporters at each candidate did 448 00:23:38,000 --> 00:23:41,880 Speaker 1: after the debate yesterday on Some local reporters were pressing 449 00:23:42,000 --> 00:23:45,240 Speaker 1: Vans on that. Uh. It is an issue and sort 450 00:23:45,280 --> 00:23:48,760 Speaker 1: of the tangentially related issue that Ryan tried to tie 451 00:23:49,200 --> 00:23:54,760 Speaker 1: Vance to Alex Jones. Vans has spoken supportively of him, uh, 452 00:23:54,960 --> 00:23:58,760 Speaker 1: including on his legal issues. Uh. And and so you know, 453 00:23:58,800 --> 00:24:03,760 Speaker 1: there's kind of a near of issues uh, surrounding that 454 00:24:04,000 --> 00:24:08,520 Speaker 1: racially charged exchange that you heard that covered a variety 455 00:24:08,520 --> 00:24:10,440 Speaker 1: of issues. I would not say it's something Vance has 456 00:24:10,520 --> 00:24:13,680 Speaker 1: just put down. Uh, it's not something Ryan just brought 457 00:24:13,760 --> 00:24:15,720 Speaker 1: up with a number of Democrats. But it does seem 458 00:24:15,760 --> 00:24:18,600 Speaker 1: to be a significant attack from Ryan on Vance. Something 459 00:24:18,600 --> 00:24:20,160 Speaker 1: you would only know there, of course, if you were 460 00:24:20,160 --> 00:24:22,000 Speaker 1: on the ground. I'm looking at the poll of polls, 461 00:24:22,000 --> 00:24:25,520 Speaker 1: you're the average from Real Clear Politics. Jack, they got 462 00:24:25,640 --> 00:24:27,960 Speaker 1: Vance up by two points. This race is too close 463 00:24:28,000 --> 00:24:31,240 Speaker 1: to call, right, that's how you describe it. Yeah, it's 464 00:24:31,280 --> 00:24:34,520 Speaker 1: a very very close race. Um, you know, this state 465 00:24:34,720 --> 00:24:37,679 Speaker 1: is a state with a lot of Republicans. It seems 466 00:24:37,680 --> 00:24:42,320 Speaker 1: to be an emerging Republican advantage. If you anticipate that 467 00:24:42,640 --> 00:24:45,880 Speaker 1: people break at the end towards their party, you could 468 00:24:46,000 --> 00:24:48,800 Speaker 1: probably see an advantage for Vance. But you look at 469 00:24:48,840 --> 00:24:51,600 Speaker 1: the polling, you talked to voters around here. It's a 470 00:24:51,760 --> 00:24:55,160 Speaker 1: very very competitive race, and there's maybe some head scratching 471 00:24:55,200 --> 00:24:59,160 Speaker 1: as to why national Democrats haven't gone in to help. Uh, Tim, 472 00:24:59,240 --> 00:25:01,960 Speaker 1: Ryan Moore, isn't that right? Although Joe Biden would not 473 00:25:02,000 --> 00:25:05,040 Speaker 1: be I'm assuming considered a big help in Ohio this 474 00:25:05,160 --> 00:25:08,520 Speaker 1: time around. Jack, No, probably not, but money might be 475 00:25:08,920 --> 00:25:11,880 Speaker 1: money from National Democratic groups to get on TV would 476 00:25:11,920 --> 00:25:13,920 Speaker 1: probably be the big help, although I will say we 477 00:25:13,920 --> 00:25:15,960 Speaker 1: we asked him Ryan about that too, and he is 478 00:25:16,160 --> 00:25:18,800 Speaker 1: perfectly happy to say, I don't need Chuck Schumer's help. 479 00:25:18,800 --> 00:25:21,240 Speaker 1: I don't need the National Democrats money. He's he's trying 480 00:25:21,280 --> 00:25:23,160 Speaker 1: to make the case that he is independent of them. 481 00:25:23,280 --> 00:25:26,040 Speaker 1: So while their money would have been helpful, Uh, he's 482 00:25:26,119 --> 00:25:29,720 Speaker 1: not complaining openly about the lack of support. Well, we 483 00:25:29,800 --> 00:25:31,880 Speaker 1: sent the right guy to Ohio. Great to have you, Jack, 484 00:25:31,880 --> 00:25:34,680 Speaker 1: and thank you. Jack Fitzpatrick reporting for Bloomberg Government. Of 485 00:25:34,720 --> 00:25:37,879 Speaker 1: course he covers Congress and this is right in his wheelhouse. 486 00:25:37,920 --> 00:25:41,120 Speaker 1: I'll bring it back to the ninth of October. Marjorie 487 00:25:41,119 --> 00:25:44,040 Speaker 1: Taylor Green speaking at a Trump rally in Arizona. The 488 00:25:44,080 --> 00:25:46,280 Speaker 1: stuff does not come out of thin air. Joe Biden's 489 00:25:46,400 --> 00:25:50,200 Speaker 1: five million illegal aliens are on the verge of replacing you, 490 00:25:50,920 --> 00:25:54,879 Speaker 1: replacing your jobs, and replacing your kids in school, and 491 00:25:54,960 --> 00:25:59,000 Speaker 1: coming from all over the world. They're also replacing your culture, 492 00:25:59,760 --> 00:26:03,280 Speaker 1: and that's not great for America. Will reassemble the panel 493 00:26:03,359 --> 00:26:06,200 Speaker 1: next their take on the debate. Last night, j d 494 00:26:06,600 --> 00:26:10,400 Speaker 1: versus Tim Ryan, Rick Davis and Jeanie Chanzano are up 495 00:26:10,400 --> 00:26:13,399 Speaker 1: next our signature panel and we'll check traffic and markets 496 00:26:13,440 --> 00:26:15,680 Speaker 1: for you on the way. Thanks for being with us. 497 00:26:15,720 --> 00:26:22,280 Speaker 1: This is Bloomberg. You're listening to Bloomberg Sound On with 498 00:26:22,400 --> 00:26:27,920 Speaker 1: Joe Matthew on Bloomberg Radio. As we follow the money 499 00:26:27,960 --> 00:26:31,080 Speaker 1: all the way to Ohio or not as the case, 500 00:26:31,160 --> 00:26:35,760 Speaker 1: maybe Jack points out something important. While the Democratic Senatorial 501 00:26:35,800 --> 00:26:38,280 Speaker 1: Campaign Committee has reserved about one and a half billion 502 00:26:38,359 --> 00:26:41,040 Speaker 1: dollars in ads for the general election on behalf of 503 00:26:41,960 --> 00:26:47,040 Speaker 1: Jim Ryan, the Democrat the Senate Leadership Fund, this is 504 00:26:47,040 --> 00:26:49,080 Speaker 1: the one you've heard Rick Davis talk about a line 505 00:26:49,119 --> 00:26:54,080 Speaker 1: with Mitch McConnell has reserved thirty million to boost j 506 00:26:54,320 --> 00:26:58,879 Speaker 1: d vans make America Great against superpack run by allies 507 00:26:58,880 --> 00:27:01,440 Speaker 1: of Donald Trump, reserving another one point four million, and 508 00:27:01,520 --> 00:27:04,920 Speaker 1: you've got Peter Cheel on top of it. Maybe that's 509 00:27:04,920 --> 00:27:09,040 Speaker 1: why everybody is so upset stressed out in this race. 510 00:27:09,040 --> 00:27:12,960 Speaker 1: The GOP was favored to hold this seat in Ohio, 511 00:27:14,160 --> 00:27:17,840 Speaker 1: the seat of retiring Republican Senator Rob Portman. But it's 512 00:27:17,840 --> 00:27:19,639 Speaker 1: too close to call right now, and boy, they were 513 00:27:19,640 --> 00:27:24,480 Speaker 1: feeling it as you heard last night. Danger shameful for 514 00:27:24,520 --> 00:27:28,920 Speaker 1: you to accuse my turn, pal, turn turn? What you said? 515 00:27:28,920 --> 00:27:32,399 Speaker 1: I'm here, I'm your guy. I'm your guy. Right, Come on, buddy, 516 00:27:32,680 --> 00:27:36,359 Speaker 1: how about you? Pal? Rick Davis has been through that 517 00:27:36,440 --> 00:27:40,280 Speaker 1: ringer before. G. D. Chanzano. I like to think you've 518 00:27:40,320 --> 00:27:44,719 Speaker 1: not been subjected to such brawling, but they do make 519 00:27:44,800 --> 00:27:47,840 Speaker 1: up our signature panel Bloomberg Politics contributors. That was a 520 00:27:47,880 --> 00:27:50,280 Speaker 1: real debate, Rick, did it move the needle? You know, 521 00:27:50,400 --> 00:27:52,520 Speaker 1: I think it got everybody's attention, but I'm not sure 522 00:27:52,920 --> 00:27:57,240 Speaker 1: there was any kind of really um decisive blows landed. Uh. 523 00:27:57,280 --> 00:28:00,359 Speaker 1: You know, it was really incumbent upon uh, Tim Ryan 524 00:28:00,440 --> 00:28:02,800 Speaker 1: to sort of, you know, show that he could try 525 00:28:02,840 --> 00:28:05,359 Speaker 1: to land a hard punch on Ja d Vance. And 526 00:28:05,640 --> 00:28:08,280 Speaker 1: it was a rough debate, no doubt about it. It's 527 00:28:08,400 --> 00:28:10,560 Speaker 1: right up there with the you know, blood and guts 528 00:28:10,600 --> 00:28:13,480 Speaker 1: debates I've seen. But the reality is that there was 529 00:28:13,520 --> 00:28:17,119 Speaker 1: no hard punch landed. And uh, he needs to change 530 00:28:17,119 --> 00:28:19,600 Speaker 1: this dynamic because it's settling into a you know, sort 531 00:28:19,600 --> 00:28:23,520 Speaker 1: of comfortably small lead by J. D Vance And and 532 00:28:23,720 --> 00:28:28,160 Speaker 1: that's not good for Advance. Shutdown that replacement theory attack 533 00:28:28,240 --> 00:28:30,320 Speaker 1: line because we've been hearing that quite a bit. Last 534 00:28:30,359 --> 00:28:33,680 Speaker 1: couple of weeks. Could that survive into the the final 535 00:28:33,760 --> 00:28:36,159 Speaker 1: weeks of the campaign? Rick, Yeah, I think invoking his 536 00:28:36,280 --> 00:28:39,600 Speaker 1: daughters was a great way to parry out of that. Obviously, 537 00:28:39,600 --> 00:28:41,800 Speaker 1: it doesn't even want to talk about it. And and 538 00:28:41,920 --> 00:28:43,880 Speaker 1: most people, I mean, look, we we don't see that 539 00:28:43,960 --> 00:28:46,240 Speaker 1: really banging around the top of the pole charts, right, 540 00:28:46,280 --> 00:28:48,600 Speaker 1: I mean, like you know, and and and and and 541 00:28:48,720 --> 00:28:51,680 Speaker 1: voters don't like it when you start saying somebody's a racist, right, 542 00:28:51,720 --> 00:28:54,080 Speaker 1: I mean they're like, yeah, let's talk about inflation or 543 00:28:54,320 --> 00:28:57,320 Speaker 1: you know, gas prices or even abortion. But like you know, 544 00:28:57,400 --> 00:29:01,160 Speaker 1: the the voters that I have pulled in the past, 545 00:29:01,320 --> 00:29:04,120 Speaker 1: you know, thirty years, you start throwing around terms like 546 00:29:04,200 --> 00:29:09,360 Speaker 1: racists and and you're they're turning the dial. His wife 547 00:29:09,440 --> 00:29:12,360 Speaker 1: is a daughter of Indian immigrants at Jennie, and of 548 00:29:12,360 --> 00:29:15,840 Speaker 1: course he's already referred to his as he refers to 549 00:29:15,880 --> 00:29:18,040 Speaker 1: them three beautiful by racial babies. Was that Was that 550 00:29:18,120 --> 00:29:20,920 Speaker 1: a tough moment for Tim Ryan to go there? You know, 551 00:29:21,080 --> 00:29:24,840 Speaker 1: it was tough. I don't think it was dumb, No, 552 00:29:25,000 --> 00:29:27,160 Speaker 1: I mean, I think it's part of what Tim Ryan 553 00:29:27,280 --> 00:29:30,520 Speaker 1: has tried to show the people of Ohio, which is 554 00:29:30,560 --> 00:29:33,680 Speaker 1: that he believes and for good reason in many cases 555 00:29:33,720 --> 00:29:37,240 Speaker 1: that JD. Vance is somebody who has been playing with fire. 556 00:29:37,360 --> 00:29:40,640 Speaker 1: He has been on Tucker Carlson Show many times. He 557 00:29:40,760 --> 00:29:44,320 Speaker 1: has in you know, in Tim Ryan's view, stoked racial 558 00:29:44,400 --> 00:29:47,640 Speaker 1: violence is what he said, and this is something that 559 00:29:47,760 --> 00:29:51,120 Speaker 1: voters need to know. And you know, the race here 560 00:29:51,320 --> 00:29:53,840 Speaker 1: is what real clear politics has it at plus two 561 00:29:53,960 --> 00:29:57,160 Speaker 1: for Vance. That's well within the margin, much better than 562 00:29:57,200 --> 00:30:00,240 Speaker 1: Democrats could ever have hoped to do. Tim Ryan has 563 00:30:00,280 --> 00:30:03,400 Speaker 1: been I think one of the most impressive Democrats on 564 00:30:03,440 --> 00:30:07,040 Speaker 1: the trail this you know, this cycle, and he is 565 00:30:07,200 --> 00:30:10,600 Speaker 1: keeping the fire going out there despite the fact he 566 00:30:10,680 --> 00:30:13,959 Speaker 1: is well underfunded because Democrats have not been willing to 567 00:30:14,040 --> 00:30:16,240 Speaker 1: support him out there. So he says this is a 568 00:30:16,360 --> 00:30:19,480 Speaker 1: David versus Goliath fight, and it truly is. He's got 569 00:30:19,520 --> 00:30:21,640 Speaker 1: a real shot there and if he pulls it out, 570 00:30:21,960 --> 00:30:24,320 Speaker 1: it would be stunning, but it's still an uphill battle. 571 00:30:24,440 --> 00:30:26,480 Speaker 1: If I asked you Rick, you know, six months ago, whatever, 572 00:30:26,520 --> 00:30:28,240 Speaker 1: the beginning of the year, if if you thought that 573 00:30:28,400 --> 00:30:31,520 Speaker 1: Dems could flip Rob Portman's seat, what would you have said? 574 00:30:32,840 --> 00:30:36,240 Speaker 1: I would have said unlikely, considering the trends that Ohio 575 00:30:36,320 --> 00:30:39,880 Speaker 1: has been on and how popular Rob Portman was, and frankly, 576 00:30:39,920 --> 00:30:42,160 Speaker 1: how popular Mike Dwine. If Mike Dwine is going to 577 00:30:42,360 --> 00:30:47,200 Speaker 1: cruise into a fifty four victory. And so when you 578 00:30:47,200 --> 00:30:49,000 Speaker 1: have someone like that at the top of the ticket 579 00:30:49,080 --> 00:30:52,840 Speaker 1: and you're trying to overturn the second slot, it's awful tough. 580 00:30:53,200 --> 00:30:55,600 Speaker 1: And and I would say that, you know, J d 581 00:30:55,720 --> 00:30:57,720 Speaker 1: Vance was probably one of the weaker candidates we could 582 00:30:57,760 --> 00:31:00,680 Speaker 1: have put up for this job. So the reality is, 583 00:31:00,720 --> 00:31:03,040 Speaker 1: as Mitch McConnell said, if we put up strong candidates, 584 00:31:03,080 --> 00:31:06,200 Speaker 1: we wouldn't even be talking about Ohio. Well, I want 585 00:31:06,200 --> 00:31:09,080 Speaker 1: to bring it to Utah, which was the other more 586 00:31:09,440 --> 00:31:12,800 Speaker 1: one of the more rambunctious debates of the night. Uh 587 00:31:12,920 --> 00:31:15,840 Speaker 1: Evan McMullin. We talked about him yesterday, the Independence, who 588 00:31:15,840 --> 00:31:21,200 Speaker 1: of course ran for president against Donald Trump. In his 589 00:31:21,200 --> 00:31:24,520 Speaker 1: his friend Mike Lee voted for him for president. Now 590 00:31:24,560 --> 00:31:26,960 Speaker 1: Senator Mike Lee is trying to defend this seat against 591 00:31:26,960 --> 00:31:29,640 Speaker 1: Evan McMullin, and boy, they both showed up for it 592 00:31:29,760 --> 00:31:32,120 Speaker 1: last night. Here's McMullin the Independent. I think both you 593 00:31:32,200 --> 00:31:34,600 Speaker 1: and I have have had times of frustration over the 594 00:31:34,640 --> 00:31:37,600 Speaker 1: last several years in the options being provided to us 595 00:31:37,640 --> 00:31:41,200 Speaker 1: at the presidential level by both parties. As you recall, 596 00:31:41,280 --> 00:31:43,440 Speaker 1: you voted for me out of that frustration when you 597 00:31:43,480 --> 00:31:45,840 Speaker 1: stood on principle as you showed have it's not a 598 00:31:45,880 --> 00:31:49,000 Speaker 1: bad line, Genie. It wasn't a bad line. And it 599 00:31:49,080 --> 00:31:52,280 Speaker 1: was a fascinating debate, in part because it was one 600 00:31:52,320 --> 00:31:55,800 Speaker 1: of the few where this issue of January six really 601 00:31:56,040 --> 00:31:59,240 Speaker 1: took you know, an enormous amount of attention and time 602 00:31:59,320 --> 00:32:02,320 Speaker 1: and was d plea personal and they both talked about it. 603 00:32:02,360 --> 00:32:05,719 Speaker 1: And boy, McMullen has the benefit of being an independent 604 00:32:05,760 --> 00:32:07,920 Speaker 1: because as much as Lee would hope to have a 605 00:32:07,960 --> 00:32:10,880 Speaker 1: Democrat that he could, you know, pretend he's running against 606 00:32:10,960 --> 00:32:13,360 Speaker 1: Joe Biden, he was able to do that a little, 607 00:32:13,480 --> 00:32:15,200 Speaker 1: but he wasn't able to do it as much as 608 00:32:15,200 --> 00:32:17,480 Speaker 1: he could with a Democrat. And that's the benefit McMullan 609 00:32:17,520 --> 00:32:20,360 Speaker 1: has of being a true independent. Well, let's go there, 610 00:32:20,680 --> 00:32:23,800 Speaker 1: Evan McMullen going after Senator Mike Lee on the idea 611 00:32:23,880 --> 00:32:27,920 Speaker 1: of providing or at least supporting this idea of fake 612 00:32:28,120 --> 00:32:33,480 Speaker 1: slates of electors, not to mention referring Sydney Powell and 613 00:32:33,560 --> 00:32:36,240 Speaker 1: John Eastman to the White House. You sought to urge 614 00:32:36,280 --> 00:32:38,520 Speaker 1: the White House that had lost an election to find 615 00:32:38,560 --> 00:32:42,440 Speaker 1: fake electors to overturn the will of the people. Senator Lee, 616 00:32:42,600 --> 00:32:47,280 Speaker 1: that was the most egregious betrayal of our nation's constitution 617 00:32:47,680 --> 00:32:49,920 Speaker 1: in its history by a u s Senator, I believe, 618 00:32:50,080 --> 00:32:53,400 Speaker 1: and it will be your legacy. Pretty tough stuff here, now. 619 00:32:53,720 --> 00:32:56,480 Speaker 1: Remember there was an issue of props at debates in 620 00:32:56,520 --> 00:32:59,320 Speaker 1: the last week. No badges were flashed last night, but 621 00:32:59,760 --> 00:33:03,040 Speaker 1: you better believe. Senator Mike Lee had his pocket Constitution. 622 00:33:03,160 --> 00:33:06,640 Speaker 1: I followed it, I studied it, and I defended it 623 00:33:06,760 --> 00:33:10,720 Speaker 1: to seconds here, and I'm leaving it in the area 624 00:33:10,920 --> 00:33:14,400 Speaker 1: for you to suggest otherwise. Looks right in the face 625 00:33:14,640 --> 00:33:17,880 Speaker 1: of truth and in the face of the Constitution. And 626 00:33:17,960 --> 00:33:20,880 Speaker 1: how dare you, sir, Mr McMullan, you have thirty seconds 627 00:33:20,880 --> 00:33:23,400 Speaker 1: for book. Senator Lee has been doing this thing with 628 00:33:23,480 --> 00:33:26,760 Speaker 1: his pocket Constitution for the last several years. Senator Lee, 629 00:33:26,760 --> 00:33:29,680 Speaker 1: it is not a prop. It is not a prop 630 00:33:31,240 --> 00:33:35,080 Speaker 1: that some applause for that one. Uh Rick is senatorly 631 00:33:35,160 --> 00:33:38,080 Speaker 1: in trouble here, And and what did you make of 632 00:33:38,160 --> 00:33:40,560 Speaker 1: the body language he was coming out from behind the 633 00:33:40,600 --> 00:33:44,200 Speaker 1: podium sort of almost trying to to physically impose himself 634 00:33:44,240 --> 00:33:47,480 Speaker 1: a bit on McMullan did it work? Yeah, I don't 635 00:33:47,560 --> 00:33:50,920 Speaker 1: think so. I think that the physicality thing, you know, 636 00:33:50,960 --> 00:33:54,680 Speaker 1: maybe barred it from Trump, who loved to stock the stage. Um, 637 00:33:55,240 --> 00:33:56,760 Speaker 1: I don't think really played it well. And he was 638 00:33:56,800 --> 00:34:00,000 Speaker 1: kind of hunched over and frankly looked a little uncomfortable 639 00:34:00,080 --> 00:34:02,720 Speaker 1: when he was doing it. Uh. I really was impressed 640 00:34:02,720 --> 00:34:05,959 Speaker 1: with Evan McMullen's debate style, right, I mean, this is 641 00:34:06,200 --> 00:34:08,000 Speaker 1: a guy he's been around politics while, but this is 642 00:34:08,000 --> 00:34:09,759 Speaker 1: a big state for him to be on and and 643 00:34:09,840 --> 00:34:12,960 Speaker 1: he really played out his messaging and his genie said, 644 00:34:12,960 --> 00:34:16,000 Speaker 1: it's one of the very few campaigns in America today 645 00:34:16,080 --> 00:34:19,480 Speaker 1: where one of the key closing issues is the conduct 646 00:34:19,600 --> 00:34:23,919 Speaker 1: of Mike Lee during January six and uh insurrection. So uh, 647 00:34:23,960 --> 00:34:26,040 Speaker 1: he made that stick a bit. And I think Mike 648 00:34:26,120 --> 00:34:28,279 Speaker 1: Lee sort of leaned right into it by whipping out 649 00:34:28,320 --> 00:34:31,880 Speaker 1: the Constitution and giving him another opportunity to talk about it. 650 00:34:31,960 --> 00:34:34,960 Speaker 1: So I'm still scratching my head. I mean, you know, 651 00:34:35,280 --> 00:34:38,239 Speaker 1: this is you're running against the guy who's really not 652 00:34:38,320 --> 00:34:42,719 Speaker 1: a Democrat, Evan McMullen. Uh, He's he's running as an independent, 653 00:34:42,760 --> 00:34:45,960 Speaker 1: which makes sense. There's no democrat, no race. Can that 654 00:34:46,080 --> 00:34:49,400 Speaker 1: beat a sitting Republican senator. This should be a dropkick 655 00:34:49,480 --> 00:34:51,920 Speaker 1: for Mike Lee to be re elected. I mean, you know, 656 00:34:52,000 --> 00:34:55,680 Speaker 1: there's really uh no noticeable opposition from a party point 657 00:34:55,719 --> 00:34:57,760 Speaker 1: of view, and can an independent win in a state 658 00:34:57,800 --> 00:35:01,400 Speaker 1: like this, I don't know. I mean the polls are tightening. 659 00:35:01,520 --> 00:35:05,479 Speaker 1: They they're definitely within you know, marginal air a little 660 00:35:05,520 --> 00:35:07,840 Speaker 1: bit more maybe, But wouldn't that be the story of 661 00:35:07,840 --> 00:35:10,640 Speaker 1: the night though if this happened. I think that certainly 662 00:35:10,640 --> 00:35:14,600 Speaker 1: it really complicates the math for Mitch McConnell and getting 663 00:35:14,600 --> 00:35:18,319 Speaker 1: a majority if one of his incumbents loses like this, right, 664 00:35:18,360 --> 00:35:20,839 Speaker 1: And so certainly it's a big story of the night. 665 00:35:20,880 --> 00:35:23,239 Speaker 1: And I think that maybe it's a message to the 666 00:35:24,200 --> 00:35:26,919 Speaker 1: Republican Party that they've got more vulnerability on this issue 667 00:35:26,920 --> 00:35:29,920 Speaker 1: at January six and the otherwise might of thought Genie 668 00:35:29,960 --> 00:35:32,319 Speaker 1: I I all I could think of was Rick Lazio. 669 00:35:33,440 --> 00:35:35,720 Speaker 1: I know this was a long time ago, but remember 670 00:35:35,760 --> 00:35:38,000 Speaker 1: when he went he why left his podium and went 671 00:35:38,040 --> 00:35:40,959 Speaker 1: over to Hillary Clinton in that two thousand Senate race 672 00:35:41,360 --> 00:35:44,800 Speaker 1: asking her to sign this campaign finance pledge. It backfired 673 00:35:44,880 --> 00:35:48,640 Speaker 1: big time. Don't leave your podium, right, That's right, you know, 674 00:35:48,719 --> 00:35:51,600 Speaker 1: and I remember it well I've talked to Rick Lazio 675 00:35:51,680 --> 00:35:54,799 Speaker 1: about that. He explains it a lot differently than it 676 00:35:54,960 --> 00:35:57,880 Speaker 1: came than it looked on TV as I was watching it. 677 00:35:58,280 --> 00:36:00,239 Speaker 1: Um and and yeah, you know, in part heard of 678 00:36:00,280 --> 00:36:03,359 Speaker 1: that UM was the issue of gender, of course, which 679 00:36:03,440 --> 00:36:06,279 Speaker 1: was played played big in that in that case. But 680 00:36:06,480 --> 00:36:09,280 Speaker 1: to your point, you've got to be very careful about 681 00:36:09,360 --> 00:36:13,000 Speaker 1: body language, don't leave your podium, don't look at your watch. 682 00:36:13,080 --> 00:36:16,279 Speaker 1: You know, there's some rules that we know now. And 683 00:36:16,360 --> 00:36:19,279 Speaker 1: of course you know, getting candidates to follow that, as 684 00:36:19,400 --> 00:36:22,120 Speaker 1: Rick can tell is better than anybody else, is easier 685 00:36:22,200 --> 00:36:24,920 Speaker 1: said than done. And I think the interesting thing here 686 00:36:24,960 --> 00:36:27,200 Speaker 1: to Rick's point, is that McMullen being a sort of 687 00:36:27,239 --> 00:36:29,600 Speaker 1: first time not first time candidate, but really on a 688 00:36:29,600 --> 00:36:32,800 Speaker 1: big stage here versus Mike Lee. It was an impressive 689 00:36:32,840 --> 00:36:36,440 Speaker 1: showing he remained still behind. But if he could catch this, 690 00:36:36,520 --> 00:36:39,200 Speaker 1: to your point, wow, that would be big news on 691 00:36:39,239 --> 00:36:41,680 Speaker 1: election night. Sure would. And of course we'll be doing 692 00:36:41,719 --> 00:36:44,480 Speaker 1: that together live, all of us here for you on 693 00:36:44,560 --> 00:36:49,040 Speaker 1: Bloomberg Radio. I'll tell you guys got off easy again tonight. 694 00:36:49,080 --> 00:36:53,799 Speaker 1: You know why I haven't had a chance to ask 695 00:36:53,800 --> 00:36:56,120 Speaker 1: you about Kanye and Parlor. You know where I'm not 696 00:36:56,160 --> 00:36:57,879 Speaker 1: gonna let you get away with it all week though, 697 00:36:58,239 --> 00:37:00,840 Speaker 1: as Elon must today tweets an image of him, Donald 698 00:37:00,920 --> 00:37:07,080 Speaker 1: Trump and yes yea, apparently the trinity of social media. 699 00:37:08,160 --> 00:37:10,520 Speaker 1: Rick and Jennie, Thanks as always. We'll get back here 700 00:37:10,520 --> 00:37:12,200 Speaker 1: and do it again tomorrow, and we will get into 701 00:37:12,200 --> 00:37:15,680 Speaker 1: this YEA story on the fastest hour in politics. I'm 702 00:37:15,760 --> 00:37:17,520 Speaker 1: Joe Matthew. This is Bloomberg