1 00:00:05,480 --> 00:00:08,200 Speaker 1: Joining us right now. It's pretty good when your first 2 00:00:08,240 --> 00:00:11,000 Speaker 1: book out with Bob Woodward Peril launches at number one 3 00:00:11,000 --> 00:00:14,200 Speaker 1: in the New York Times Bestseller Robert Costa, of course, 4 00:00:14,920 --> 00:00:18,759 Speaker 1: legendary at the Washington Post, has wandered over to any 5 00:00:19,079 --> 00:00:21,880 Speaker 1: number of jobs, and of course joins us now this 6 00:00:21,920 --> 00:00:27,280 Speaker 1: morning with CBS and Face the Nation. Robert Costa, within 7 00:00:27,360 --> 00:00:30,600 Speaker 1: the frenzy in your world right now, you are a 8 00:00:30,760 --> 00:00:35,199 Speaker 1: calm voice. Who are you listening to into the weekend? 9 00:00:35,680 --> 00:00:38,559 Speaker 1: Which kind of source are you listening to? 10 00:00:40,680 --> 00:00:44,920 Speaker 2: I'm listening to people who really know President Biden, not 11 00:00:45,280 --> 00:00:49,760 Speaker 2: just top Democrats, not just House Democrats and Senate Democrats 12 00:00:49,760 --> 00:00:53,240 Speaker 2: who are on the outer perimeter of Biden's circle. People 13 00:00:53,240 --> 00:00:55,280 Speaker 2: who really know this guy who was elected to the 14 00:00:55,320 --> 00:00:58,480 Speaker 2: Senate in nineteen seventy two, who has been through public 15 00:00:58,520 --> 00:01:02,920 Speaker 2: humiliation and public loss for a long time, And they're 16 00:01:02,960 --> 00:01:05,800 Speaker 2: telling me behind the scenes that he wants to stay 17 00:01:05,840 --> 00:01:08,800 Speaker 2: in this race. He's telling people close to him and 18 00:01:08,840 --> 00:01:12,200 Speaker 2: family members he's adamant he should be the nominee and 19 00:01:12,240 --> 00:01:14,560 Speaker 2: he's best positioned to be Trump. But that doesn't mean 20 00:01:14,640 --> 00:01:15,959 Speaker 2: it's quieting Democrats. 21 00:01:16,240 --> 00:01:18,800 Speaker 1: You're the only one I could say this to I 22 00:01:18,840 --> 00:01:22,000 Speaker 1: mean when he was in high school, prep school, Costa 23 00:01:22,040 --> 00:01:25,440 Speaker 1: was booking the beautiful people of Hollywood, Oh to play 24 00:01:25,480 --> 00:01:27,839 Speaker 1: as prep school. I mean, he's on a first thing basis. 25 00:01:28,200 --> 00:01:32,400 Speaker 1: It's sixteen with Maroon five. What is that about, Robert 26 00:01:32,520 --> 00:01:38,000 Speaker 1: Costa on the Democratic Party donor class? Who are these guys? 27 00:01:38,000 --> 00:01:39,000 Speaker 1: To take it from? 28 00:01:39,000 --> 00:01:44,919 Speaker 2: Butch Cassidy, Well, you have people like Jeffrey Katzenberg around 29 00:01:45,040 --> 00:01:48,280 Speaker 2: President Biden, Hollywood moguls. They just had the big Hollywood 30 00:01:48,280 --> 00:01:52,240 Speaker 2: fundraiser for Biden a few weeks ago, and they're so 31 00:01:52,480 --> 00:01:56,160 Speaker 2: motivated not by putting Biden in the presidency again, but 32 00:01:56,200 --> 00:02:01,000 Speaker 2: by stopping Trump. And that dynamic has to be noted 33 00:02:01,040 --> 00:02:03,960 Speaker 2: as this all plows ahead in the days to come, 34 00:02:04,040 --> 00:02:06,800 Speaker 2: because it's really about stopping Trump for a lot of 35 00:02:06,840 --> 00:02:09,760 Speaker 2: these donors and Democrats not giving Biden a second term. 36 00:02:10,000 --> 00:02:12,480 Speaker 2: And that's so then past presidential cycles. 37 00:02:13,400 --> 00:02:16,200 Speaker 3: And so Robert, how do you guys set this up 38 00:02:16,280 --> 00:02:18,359 Speaker 3: for a Face Nation this Sunday morning on a CBS 39 00:02:18,400 --> 00:02:19,160 Speaker 3: television network. 40 00:02:20,000 --> 00:02:23,120 Speaker 2: So I'm lucky enough to be guest anchor this weekend, 41 00:02:23,320 --> 00:02:25,799 Speaker 2: and we're going to talk to Jim Clyburn, And I 42 00:02:25,840 --> 00:02:28,280 Speaker 2: think he's really important because he actually has political capital. 43 00:02:28,320 --> 00:02:30,400 Speaker 2: A lot of people claim to have political capital. He 44 00:02:30,440 --> 00:02:33,440 Speaker 2: actually has it. He made Biden the nominee in twenty 45 00:02:33,440 --> 00:02:37,120 Speaker 2: with his endorsement. Where is he going to stand harce 46 00:02:37,200 --> 00:02:40,160 Speaker 2: his words carefully and listen to what he has to say. 47 00:02:40,440 --> 00:02:43,200 Speaker 2: What's notable is that Clyiber's been talking publicly about maybe 48 00:02:43,200 --> 00:02:46,840 Speaker 2: backing Vice President Harris if Biden steps away. Does Cliburgs 49 00:02:46,840 --> 00:02:50,560 Speaker 2: start to really escalate that talk or not? Senator Bernie Sanders, 50 00:02:50,800 --> 00:02:53,040 Speaker 2: what's he going to do if Biden steps away? He's 51 00:02:53,040 --> 00:02:55,560 Speaker 2: always one of the presidency, he's eighty two. Does he run? 52 00:02:56,080 --> 00:02:58,880 Speaker 2: Does he back Harris? Where does the progressive the left 53 00:02:58,880 --> 00:03:01,480 Speaker 2: wing do they stick with the Biden pick or the 54 00:03:01,520 --> 00:03:03,560 Speaker 2: new the Harris pick or not? Right, we're in a 55 00:03:03,680 --> 00:03:05,119 Speaker 2: very fluid, in fragile moments. 56 00:03:04,880 --> 00:03:07,079 Speaker 1: Way, Robert Costa, I can see you doing a Dan 57 00:03:07,200 --> 00:03:11,799 Speaker 1: Rather imitation on the floor in Chicago like nineteen sixty eight. 58 00:03:11,880 --> 00:03:15,040 Speaker 1: I mean, how close are we? Robert Costa within CBS 59 00:03:15,120 --> 00:03:18,960 Speaker 1: reporting to not the certitude of a migration from the 60 00:03:19,000 --> 00:03:24,560 Speaker 1: president to the vice president, but an actual cohesive debate 61 00:03:25,320 --> 00:03:30,120 Speaker 1: or sets of dialogue to get to a selection choice 62 00:03:30,560 --> 00:03:33,800 Speaker 1: for president and vice president in Chicago. 63 00:03:34,760 --> 00:03:37,200 Speaker 2: What's stunning to me is how this kind of corporate 64 00:03:37,320 --> 00:03:41,200 Speaker 2: culture has fallen over the Democratic Party that so few 65 00:03:41,200 --> 00:03:44,320 Speaker 2: people want to take any kind of risk publicly. And 66 00:03:44,400 --> 00:03:47,360 Speaker 2: politics used to be about risk. As you noted, you 67 00:03:47,440 --> 00:03:50,320 Speaker 2: had conventions that were rough and tumble. People wanted power, 68 00:03:50,400 --> 00:03:52,760 Speaker 2: you had to fight for it. Democrats are averse, it 69 00:03:52,800 --> 00:03:55,840 Speaker 2: seems to political war, and at this point it seems 70 00:03:55,880 --> 00:03:58,040 Speaker 2: like Harris would be the logical choice for a lot 71 00:03:58,080 --> 00:04:00,640 Speaker 2: of them to avoid it. They would think, maybe she loses, 72 00:04:00,640 --> 00:04:02,480 Speaker 2: maybe she wins, but they would look ahead to twenty 73 00:04:02,520 --> 00:04:05,640 Speaker 2: twenty eight. But look, in presidential politics, I've only covered 74 00:04:05,680 --> 00:04:09,120 Speaker 2: it for fifteen years. You only have one shot most 75 00:04:09,160 --> 00:04:12,120 Speaker 2: of the time. And this is a rare, rare opening 76 00:04:12,520 --> 00:04:15,480 Speaker 2: for somebody maybe to step into the vacuum. So I 77 00:04:15,560 --> 00:04:17,520 Speaker 2: expect somebody to maybe give Harris. 78 00:04:17,440 --> 00:04:21,080 Speaker 1: Interesting rob This is great, Robert Costa, thank you so much. 79 00:04:21,120 --> 00:04:24,599 Speaker 1: And for Margaret Brennan Face the Nation Sunday on radio 80 00:04:24,760 --> 00:04:28,680 Speaker 1: at two on Bloomberg. We now turned to someone constans, 81 00:04:28,680 --> 00:04:31,599 Speaker 1: a young buck, you know, fifteen years in flip the numbers. 82 00:04:31,680 --> 00:04:34,800 Speaker 1: Joe Matthew's been doing this for fifty one years. It 83 00:04:34,880 --> 00:04:39,160 Speaker 1: joins us with balance of power as well. Joe. I'm 84 00:04:39,200 --> 00:04:43,400 Speaker 1: sure you remember a given election in the cold and slush. 85 00:04:43,560 --> 00:04:46,040 Speaker 1: Maybe it was a primary. I think it was William 86 00:04:46,080 --> 00:04:50,040 Speaker 1: Well Ted Kennedy in Boston. I can't remember, but it 87 00:04:50,080 --> 00:04:54,600 Speaker 1: was rough in tumble politics. People were swearing at Durgan 88 00:04:54,720 --> 00:04:57,840 Speaker 1: Park trying to get a dinner, and I mean it 89 00:04:57,960 --> 00:05:00,479 Speaker 1: was the way it used to be. A lot of 90 00:05:00,520 --> 00:05:04,800 Speaker 1: idiots like me want the Romance of nineteen sixty eight 91 00:05:05,360 --> 00:05:08,040 Speaker 1: or a rough and tumble tip on neopolitics of Boston. 92 00:05:08,520 --> 00:05:10,440 Speaker 1: Am I delusional to look forward to that? 93 00:05:12,040 --> 00:05:13,440 Speaker 4: We all do every four years. 94 00:05:13,440 --> 00:05:17,400 Speaker 5: What a contested convention is like Christmas morning a political reporter, 95 00:05:17,440 --> 00:05:19,440 Speaker 5: and then it never happens. I will remind you they've 96 00:05:19,480 --> 00:05:23,920 Speaker 5: now auctioned off all of the restaurant equipment from Durgan Park. 97 00:05:23,920 --> 00:05:25,840 Speaker 5: It doesn't exist anymore, and I don't know if there's 98 00:05:25,880 --> 00:05:29,640 Speaker 5: a high Brent condo there or something now. But much 99 00:05:29,760 --> 00:05:31,919 Speaker 5: like the politics you describe, I'm not sure they're going 100 00:05:31,960 --> 00:05:34,160 Speaker 5: to recreate it. And there's a real worry that if 101 00:05:34,200 --> 00:05:36,200 Speaker 5: that's where we're going here, that this will be so 102 00:05:36,360 --> 00:05:40,120 Speaker 5: disruptive that it's exactly what Donald Trump is hoping for. 103 00:05:40,160 --> 00:05:41,839 Speaker 5: But I don't know They've set up a week long 104 00:05:41,880 --> 00:05:44,640 Speaker 5: obstacle course for Joe Biden, and let's see if he 105 00:05:44,680 --> 00:05:45,200 Speaker 5: can clear it. 106 00:05:45,279 --> 00:05:47,200 Speaker 1: I mean, what's important to understand. I gave you good 107 00:05:47,240 --> 00:05:50,520 Speaker 1: just surveillance correction here, Joe Matthew never darkened the door 108 00:05:50,560 --> 00:05:54,320 Speaker 1: at Durgen Park. He was over at Lockover having the 109 00:05:54,880 --> 00:05:58,440 Speaker 1: oyster soup under a portrait that made you blush when 110 00:05:58,480 --> 00:06:00,000 Speaker 1: you were ten years old. 111 00:06:00,440 --> 00:06:03,839 Speaker 5: A Hi, Jill, you can't get cornbefitt Locko. 112 00:06:03,880 --> 00:06:04,760 Speaker 1: That would be true. 113 00:06:05,080 --> 00:06:05,320 Speaker 2: Joe. 114 00:06:05,320 --> 00:06:08,799 Speaker 3: What's the what's the realistic time frame here for President 115 00:06:08,800 --> 00:06:12,120 Speaker 3: Biden to make a decision here? How do we think 116 00:06:12,120 --> 00:06:12,480 Speaker 3: about that? 117 00:06:12,480 --> 00:06:14,800 Speaker 5: It's a great question, they seem, Paul. They seem to 118 00:06:14,800 --> 00:06:17,359 Speaker 5: have carved out a week. It starts today with the 119 00:06:17,440 --> 00:06:20,200 Speaker 5: interview being deemed as the most important interview of his 120 00:06:20,279 --> 00:06:21,000 Speaker 5: political life. 121 00:06:21,000 --> 00:06:22,919 Speaker 4: And boy, that's gonna be interesting. 122 00:06:23,000 --> 00:06:25,760 Speaker 5: I'm really curious to see how much time he commits 123 00:06:25,800 --> 00:06:27,919 Speaker 5: to this. If it's fifteen minutes or if it's forty 124 00:06:27,960 --> 00:06:30,880 Speaker 5: five minutes, that's gonna tell us a lot. But he's 125 00:06:30,920 --> 00:06:34,240 Speaker 5: gonna be speaking in Wisconsin, albeit with a teleprompter. He's 126 00:06:34,240 --> 00:06:36,760 Speaker 5: got NATO next week, He's got a trip to Philadelphia 127 00:06:36,800 --> 00:06:39,120 Speaker 5: as well, but NATO, I want to just go ahead 128 00:06:39,200 --> 00:06:42,520 Speaker 5: pass the interview today. Think about the stakes of that 129 00:06:42,760 --> 00:06:45,919 Speaker 5: solo news conference he's going to hold to conclude NATO. 130 00:06:46,000 --> 00:06:48,600 Speaker 5: That's not a bilateral He's not gonna have Voladimir Zelenski 131 00:06:48,720 --> 00:06:50,080 Speaker 5: sitting next to him. It's not going to be two 132 00:06:50,160 --> 00:06:52,560 Speaker 5: and two for the reporters. This is the big one, 133 00:06:52,600 --> 00:06:55,000 Speaker 5: This is the big slog. He's never done this East 134 00:06:55,080 --> 00:06:59,800 Speaker 5: room primetime news conference thing, but his predecessors were pretty 135 00:06:59,839 --> 00:07:01,760 Speaker 5: good at and so is he going to be able 136 00:07:01,760 --> 00:07:04,400 Speaker 5: to take the skip gates question forty five minutes into 137 00:07:04,440 --> 00:07:06,640 Speaker 5: that exercise because they're going to be throwing curveballs at 138 00:07:06,680 --> 00:07:09,440 Speaker 5: him in real time. He's going to be tired after 139 00:07:09,480 --> 00:07:11,720 Speaker 5: all the meetings, and I'm thinking next week that news 140 00:07:11,720 --> 00:07:14,280 Speaker 5: conference is the most important thing on his schedule. 141 00:07:14,680 --> 00:07:18,800 Speaker 3: Are the Democrats to the extent that he does decide 142 00:07:18,840 --> 00:07:22,960 Speaker 3: to step back here, is there an accepted process from 143 00:07:23,000 --> 00:07:24,440 Speaker 3: where the party would go from there? 144 00:07:24,560 --> 00:07:26,480 Speaker 1: Or is it we haven't gotten to that point yet. 145 00:07:26,600 --> 00:07:28,640 Speaker 4: No, we haven't gotten to that point. 146 00:07:28,720 --> 00:07:30,480 Speaker 5: But I do find it interesting that over the past 147 00:07:30,520 --> 00:07:32,640 Speaker 5: couple of days, the narrative has really turned us back 148 00:07:32,680 --> 00:07:36,120 Speaker 5: to Kamala Harris and away from this idea of wretching 149 00:07:36,160 --> 00:07:38,920 Speaker 5: Whitmer or Gavin Newsom or somebody popping in. Look, there's 150 00:07:38,920 --> 00:07:41,920 Speaker 5: a reason why she's there. There's a reason why he 151 00:07:41,960 --> 00:07:43,440 Speaker 5: picked her. And I don't think you're going to find 152 00:07:43,440 --> 00:07:45,200 Speaker 5: a lot of people who want to run against, frankly, 153 00:07:45,800 --> 00:07:48,600 Speaker 5: somebody who could make history as the first black female president. 154 00:07:48,640 --> 00:07:50,680 Speaker 5: If you're teeing up yourself for twenty eight, you're not 155 00:07:50,760 --> 00:07:51,560 Speaker 5: running against her. 156 00:07:51,600 --> 00:07:54,720 Speaker 1: Now the show quickly here, do you observe any polls? 157 00:07:54,720 --> 00:07:58,360 Speaker 1: I mean, you know, let's be clearer, folks, Matthews encyclopedic 158 00:07:58,440 --> 00:08:01,880 Speaker 1: on this. Are there a pole that support Vice President 159 00:08:02,000 --> 00:08:04,280 Speaker 1: Harris becoming president? Yes? 160 00:08:05,400 --> 00:08:08,800 Speaker 5: Well, Look, her favorability rating in our own Bloomberg Swing 161 00:08:08,840 --> 00:08:12,000 Speaker 5: State pole with Morning Consult was on the rise, and 162 00:08:12,080 --> 00:08:14,720 Speaker 5: in fact higher than Joe Biden's in the last turn. 163 00:08:14,800 --> 00:08:18,480 Speaker 5: But CNN ran numbers and found her in a statistical 164 00:08:18,600 --> 00:08:22,200 Speaker 5: tie with Donald Trump. We all say that Joe Biden 165 00:08:22,280 --> 00:08:24,000 Speaker 5: might be the only person who can beat him. This 166 00:08:24,120 --> 00:08:26,640 Speaker 5: challenge is that and she's stronger than Biden with women 167 00:08:26,960 --> 00:08:30,480 Speaker 5: and with independence. Imagine a ticket where she's got maybe 168 00:08:31,040 --> 00:08:34,120 Speaker 5: a Democratic governor like a Shapiro or a Roy Cooper, 169 00:08:34,160 --> 00:08:37,439 Speaker 5: with her, and she's got the mantle of abortion, the 170 00:08:37,840 --> 00:08:40,680 Speaker 5: moral clarity on that issue, and potentially could make history 171 00:08:40,720 --> 00:08:43,560 Speaker 5: as the first black female president. That's a story that 172 00:08:43,679 --> 00:08:46,480 Speaker 5: Democrats can get their heads around. Throwing all the pieces 173 00:08:46,559 --> 00:08:48,560 Speaker 5: up in the air and doing a mini primary like 174 00:08:48,600 --> 00:08:51,360 Speaker 5: they're talking about a series of five debates with people 175 00:08:51,400 --> 00:08:52,640 Speaker 5: who have no name recognition. 176 00:08:52,800 --> 00:08:53,600 Speaker 4: Sounds dangerous. 177 00:08:54,160 --> 00:08:57,040 Speaker 1: Joe Matthew, thank you so much, Bounce, That's what this 178 00:08:57,080 --> 00:08:59,640 Speaker 1: is about, folks, Robert Costa, Joe Matthew, back to Beck. 179 00:09:00,240 --> 00:09:03,120 Speaker 1: Terry Haines joins us now to pick up the pieces 180 00:09:03,160 --> 00:09:06,200 Speaker 1: and piece together. I guess the second week of July 181 00:09:06,559 --> 00:09:09,319 Speaker 1: in Washington. I don't know if he's capable of doing that. 182 00:09:09,679 --> 00:09:13,960 Speaker 1: Terry Hayes with pangea, joins us, Terry right now after 183 00:09:14,000 --> 00:09:18,120 Speaker 1: the bizarreness of this weekend, the uniqueness in American history. 184 00:09:18,720 --> 00:09:22,000 Speaker 1: What is Terry Haynes unknown? Unknown? 185 00:09:22,640 --> 00:09:26,600 Speaker 6: Well, very very simply, it's Uh, it's it's whether Biden's 186 00:09:26,640 --> 00:09:28,480 Speaker 6: up to the job or not, and whether he can 187 00:09:28,520 --> 00:09:32,480 Speaker 6: prove it or not. I mean, we've been his citizens 188 00:09:32,480 --> 00:09:34,840 Speaker 6: have been misinformed about the president's condition. 189 00:09:34,920 --> 00:09:35,440 Speaker 1: To put it. 190 00:09:35,400 --> 00:09:39,600 Speaker 6: Kindly, Uh, and much of the news media not this network, 191 00:09:39,640 --> 00:09:42,560 Speaker 6: but much of the news media has has willfully ignored it. 192 00:09:42,840 --> 00:09:45,880 Speaker 6: Now they're over compensating. The question is whether he's up 193 00:09:45,920 --> 00:09:47,280 Speaker 6: to it or not. I mean, I wouldn't put a 194 00:09:47,320 --> 00:09:48,760 Speaker 6: lot of I wouldn't put a lot of money on 195 00:09:48,800 --> 00:09:51,520 Speaker 6: it in Vegas. But at the same time, you know, 196 00:09:51,559 --> 00:09:55,360 Speaker 6: you've had situations where he's he's gone out in public 197 00:09:55,400 --> 00:09:58,440 Speaker 6: a few times and just shown fire and shown the 198 00:09:58,480 --> 00:10:02,319 Speaker 6: ability to talk. And he's got Stephanopolis coming up tonight 199 00:10:02,360 --> 00:10:04,240 Speaker 6: and it may be a huge moment for the campaign 200 00:10:04,280 --> 00:10:05,080 Speaker 6: and we'll have to see that. 201 00:10:05,120 --> 00:10:08,319 Speaker 1: Bloomberg, of course, will be synthesizing the questions edited and 202 00:10:08,720 --> 00:10:14,200 Speaker 1: edited at ABC. Terry, excuse me choking on a fifth 203 00:10:14,200 --> 00:10:16,720 Speaker 1: hot dog? I didn't do Nathan's budding. I got up 204 00:10:16,760 --> 00:10:19,959 Speaker 1: to five hot dogs. What can I say, Terry Haynes? 205 00:10:20,120 --> 00:10:25,880 Speaker 1: What is the probability, the likelihood the ability of the 206 00:10:25,960 --> 00:10:30,679 Speaker 1: Democratic Party to squeeze into X number of weeks a 207 00:10:30,800 --> 00:10:35,960 Speaker 1: diverse campaign process of four, five, six, seven candidates to 208 00:10:36,040 --> 00:10:40,440 Speaker 1: get to a smoke filled convention. Oh, by what you mean? 209 00:10:40,480 --> 00:10:43,679 Speaker 1: Replaced Biden? Is that where we're going? Yeah, well, replaced Biden. 210 00:10:43,760 --> 00:10:46,640 Speaker 1: But to go beyond just the idea of the vice 211 00:10:46,679 --> 00:10:47,800 Speaker 1: president will take over. 212 00:10:48,720 --> 00:10:52,440 Speaker 6: Yeah, well, you know, it depends on whether we're talking 213 00:10:52,440 --> 00:10:57,600 Speaker 6: about him leaving the presidency or leaving his candidacy or both. 214 00:10:58,360 --> 00:11:01,600 Speaker 6: And you know, that's a little more finally judged than 215 00:11:01,960 --> 00:11:06,560 Speaker 6: I think the company wanted. But the answer is, you know, yeah, 216 00:11:06,559 --> 00:11:12,400 Speaker 6: they can absolutely get a situation where this virtual nomination 217 00:11:12,600 --> 00:11:14,720 Speaker 6: process they're going to try to pull in a couple 218 00:11:14,800 --> 00:11:17,520 Speaker 6: of weeks, you know, might get short circuited by a 219 00:11:17,600 --> 00:11:20,520 Speaker 6: number of the delegates themselves, who will who may well 220 00:11:20,559 --> 00:11:23,319 Speaker 6: insist on our rewriting of the rules. You know, there's 221 00:11:23,360 --> 00:11:26,760 Speaker 6: an awful lot of dissatisfaction out there, but there's not 222 00:11:26,840 --> 00:11:29,640 Speaker 6: a lot of ability by those who are most dissatisfied 223 00:11:29,640 --> 00:11:31,640 Speaker 6: with being able to do something about it. This is 224 00:11:31,640 --> 00:11:35,520 Speaker 6: still pretty tightly controlled, and I think certainly, I think 225 00:11:35,520 --> 00:11:37,160 Speaker 6: Biden's trying to brazen it out right now. 226 00:11:37,840 --> 00:11:41,200 Speaker 3: So Terry, obviously it's it's really up to President Biden 227 00:11:41,280 --> 00:11:44,640 Speaker 3: where this whole thing goes here. What's your sense of 228 00:11:44,679 --> 00:11:47,120 Speaker 3: timing when do you think that president really has to 229 00:11:47,160 --> 00:11:50,280 Speaker 3: make a decision of whether he is in it or not? 230 00:11:52,040 --> 00:11:56,280 Speaker 6: Probably between now, almost certainly, Paul, between now and the 231 00:11:56,480 --> 00:12:01,240 Speaker 6: convention in mid August. But uh, you know, but then 232 00:12:01,280 --> 00:12:05,480 Speaker 6: there's this trip wire where where the virtual convention happens 233 00:12:05,520 --> 00:12:09,079 Speaker 6: and sometime in mid July late July. So uh, you 234 00:12:09,120 --> 00:12:11,160 Speaker 6: know what they're what they're trying to do right now 235 00:12:11,440 --> 00:12:13,120 Speaker 6: is you know, we're going to wrap up the party 236 00:12:13,160 --> 00:12:17,080 Speaker 6: regulars make it all but impossible for the convention itself 237 00:12:17,160 --> 00:12:20,400 Speaker 6: to remove him, which makes it even more in his 238 00:12:20,880 --> 00:12:23,200 Speaker 6: judgment about whether he wants to continue or not. 239 00:12:24,360 --> 00:12:27,120 Speaker 3: And Terry X, I guess the question for a lot 240 00:12:27,120 --> 00:12:30,160 Speaker 3: of folks within the Democratic Party is if he were 241 00:12:30,360 --> 00:12:33,120 Speaker 3: to say I'm going to step aside for this next election, 242 00:12:33,720 --> 00:12:36,000 Speaker 3: is there any sense of what the process might be. 243 00:12:36,080 --> 00:12:39,640 Speaker 3: Would there be a series of debates among party leaders, 244 00:12:39,640 --> 00:12:41,280 Speaker 3: would it just be handed to vice president? 245 00:12:41,400 --> 00:12:43,560 Speaker 4: How how would it work out? Do you think? 246 00:12:45,040 --> 00:12:47,000 Speaker 6: Well, I think that you know, there's a there's a 247 00:12:47,080 --> 00:12:49,880 Speaker 6: group that wants it handed to Harris. Uh. You know, 248 00:12:49,960 --> 00:12:53,400 Speaker 6: but Biden of course is using is using Harris. I 249 00:12:53,400 --> 00:12:56,479 Speaker 6: think is Uh as a backstop for his own ambitions 250 00:12:56,520 --> 00:12:59,360 Speaker 6: to stay Uh. I think what ends up happening is 251 00:12:59,400 --> 00:13:02,000 Speaker 6: you have a you have a change to the party 252 00:13:02,080 --> 00:13:06,920 Speaker 6: rules that releases delegates from their releases delegates from their 253 00:13:06,920 --> 00:13:10,160 Speaker 6: first ballot commitment to Biden and you actually have, as 254 00:13:10,200 --> 00:13:13,720 Speaker 6: we had before nineteen seventy two, actually have an open 255 00:13:13,760 --> 00:13:16,960 Speaker 6: convention where the delegates actually get to decide who they want. 256 00:13:17,320 --> 00:13:21,880 Speaker 6: And in that situation, you'd have nominations by different people, 257 00:13:21,960 --> 00:13:26,560 Speaker 6: you'd have speeches, you'd have unruliness galore, just like you 258 00:13:26,679 --> 00:13:26,959 Speaker 6: used to have. 259 00:13:27,000 --> 00:13:30,880 Speaker 1: Aware this is I mean, obviously you know the media 260 00:13:30,960 --> 00:13:33,280 Speaker 1: that's exciting. I mean, we're talking our book, which is 261 00:13:33,320 --> 00:13:36,960 Speaker 1: we want a crazy convention. But Terrians, I want you 262 00:13:37,040 --> 00:13:41,200 Speaker 1: to take us right now to four thirty South Capitol Streets, 263 00:13:41,280 --> 00:13:46,000 Speaker 1: Southeast Washington, d C. To the headquarters of the Democratic 264 00:13:46,200 --> 00:13:51,240 Speaker 1: National Party. I guess Jamie Harrison, Chris Cork, Jason Ray, 265 00:13:51,640 --> 00:13:57,760 Speaker 1: and others. Does the president, routinely any Democratic president, do 266 00:13:57,880 --> 00:14:01,360 Speaker 1: they just control the DNC or does the DNC have 267 00:14:01,440 --> 00:14:04,480 Speaker 1: a vote to get to that convention we all want. 268 00:14:05,480 --> 00:14:08,960 Speaker 6: They control the DNC, particularly in the months and year 269 00:14:09,080 --> 00:14:12,040 Speaker 6: leading up to the election. That's been standard in both 270 00:14:12,080 --> 00:14:15,000 Speaker 6: parties for quite a while. And when you combine that 271 00:14:15,080 --> 00:14:18,400 Speaker 6: with the fact that the parties as party organizations have 272 00:14:18,559 --> 00:14:22,920 Speaker 6: been have been a trophying over the past several decades, 273 00:14:23,000 --> 00:14:25,520 Speaker 6: you know, it's it's interesting to talk about it today 274 00:14:25,560 --> 00:14:28,840 Speaker 6: because I'm sitting in London. You've just had conversations about 275 00:14:28,880 --> 00:14:31,840 Speaker 6: the UK elections. The party organizations are very strong in 276 00:14:31,840 --> 00:14:34,240 Speaker 6: the UK, whereas they're very weak in the United States, 277 00:14:34,520 --> 00:14:38,320 Speaker 6: and nowhere weaker or no when weaker than the year 278 00:14:38,440 --> 00:14:42,880 Speaker 6: of a presidential election. So Jamie Harrison's taking orders from 279 00:14:42,880 --> 00:14:43,360 Speaker 6: the White. 280 00:14:43,200 --> 00:14:46,840 Speaker 1: House to sum this up to Paul's good question, the 281 00:14:46,880 --> 00:14:50,560 Speaker 1: President of the United States really is going to decide 282 00:14:51,600 --> 00:14:56,360 Speaker 1: the process of his future and his party's future in 283 00:14:56,400 --> 00:14:59,560 Speaker 1: the coming days and weeks, maybe to get to a 284 00:14:59,640 --> 00:15:02,120 Speaker 1: Donnie Brook that gets us to Chicago. Is that right? 285 00:15:03,120 --> 00:15:03,320 Speaker 6: Yeah? 286 00:15:03,320 --> 00:15:03,720 Speaker 1: I think so. 287 00:15:04,280 --> 00:15:08,880 Speaker 6: You know, they've exercised huge control over this process from 288 00:15:08,960 --> 00:15:13,160 Speaker 6: day one, you know, basically making it a primary free process, 289 00:15:13,680 --> 00:15:18,120 Speaker 6: you know, exercising a grip on the on the party controls, 290 00:15:18,280 --> 00:15:21,560 Speaker 6: exercising a grip on the money. As people are now 291 00:15:21,600 --> 00:15:24,920 Speaker 6: starting to figure out, you know, the money gets the 292 00:15:24,960 --> 00:15:28,720 Speaker 6: Biden Harris money gets dispersed away unless it's anybody but 293 00:15:28,800 --> 00:15:31,120 Speaker 6: Biden or Harris at the top of the ticket. So 294 00:15:31,400 --> 00:15:34,680 Speaker 6: there's a lot of considerations mechanical for Democrats to go through, 295 00:15:35,040 --> 00:15:38,240 Speaker 6: much less the fundamental question of whether Biden ought to 296 00:15:38,280 --> 00:15:40,600 Speaker 6: be their nominee and whether we ought to remain as president. 297 00:15:41,600 --> 00:15:44,800 Speaker 1: This is a Bloomberg Surveillance podcast, bringing you the best 298 00:15:44,800 --> 00:15:49,600 Speaker 1: in economics, finance, investment, and international relations. You can also 299 00:15:49,680 --> 00:15:53,720 Speaker 1: watch the show live on YouTube. Visit the Bloomberg Podcast 300 00:15:53,840 --> 00:15:57,880 Speaker 1: channel on YouTube to see the show weekday mornings from 301 00:15:57,920 --> 00:16:01,160 Speaker 1: seven to ten am Eastern from our Oldo headquarters in 302 00:16:01,240 --> 00:16:04,960 Speaker 1: New York City. 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