WEBVTT - Dionne: GOP must reform

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<v Speaker 1>Global business news twenty four hours a day at Bloomberg

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<v Speaker 1>This is a Bloomberg Business Flash and I'm kerin Moscow.

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<v Speaker 1>That's a Bloomberg business flash, Tom and Mike Karen Moscow,

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<v Speaker 1>thank you very much. Well, the President has made a

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<v Speaker 1>decision about offshore drilling off the Atlantic coast that was

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<v Speaker 1>due out today and the question was would he allow

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<v Speaker 1>additional drilling leases off the coast of Virginia. He says no,

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<v Speaker 1>he is going to bar Atlantic coast oil drilling. That's

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<v Speaker 1>a reversal of earlier policies. However, time it's not clear

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<v Speaker 1>exactly what impact that will have, given that we have

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<v Speaker 1>more oil than we want right now. Anyway, Yeah, well,

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<v Speaker 1>it's it's it's a debate and it's out there. I guess.

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<v Speaker 1>It's an active president, very high in the ratings and

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<v Speaker 1>as well. It's always good to have e j. Deone

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<v Speaker 1>with us, of course, always writing up in the Washington Post.

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<v Speaker 1>But he has trotted out a new book which he

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<v Speaker 1>is perfectly timed the collapse of the Republican Party. Why

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<v Speaker 1>the Right Went Wrong? Uh, e J Deone on conservatism

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<v Speaker 1>and really a most interesting historical view of the path

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<v Speaker 1>of the right. Always through the prism of Mr dion

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<v Speaker 1>E j Um. I love the phrase Goldwater is um,

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<v Speaker 1>which so much gets to the morphing of a U

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<v Speaker 1>H two oh into where we are as we go

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<v Speaker 1>to Florida and Ohio, this evening defined for us modern

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<v Speaker 1>day Goldwater is um. I love that phrase. Well Goldwater Um,

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<v Speaker 1>we remember him as a person, and he was a

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<v Speaker 1>very warm, agreeable, uh person. He was, you know, candid

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<v Speaker 1>and principle. So none of this is about gold Water

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<v Speaker 1>the guy, and later in life he actually became more

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<v Speaker 1>moderate himself. But to go back to the original Goldwater

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<v Speaker 1>campaign in nine and the promises he made, um, these

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<v Speaker 1>were all basically tea party sort of promises, will roll

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<v Speaker 1>back government on every front. Uh. You know, he said,

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<v Speaker 1>I don't mean to reform government because I intend to

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<v Speaker 1>cut it. Uh. And that's where a large part of

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<v Speaker 1>the Republican Party has moved. Um. I say if I

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<v Speaker 1>thank you so much for what you said about the book. Um.

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<v Speaker 1>I was very gratified by a review I just got

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<v Speaker 1>from National Review, which is a conservative magazine, disagrees with

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<v Speaker 1>the book, disagrees with me, and yet it argued the

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<v Speaker 1>review by a guy called a scholar called. Henry Olsen

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<v Speaker 1>argued that conservatives do have to come to terms of

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<v Speaker 1>my argument that if they carry goldwater Ism on indefinitely,

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<v Speaker 1>they will have a real problem because Goldwaterism doesn't speak

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<v Speaker 1>It was an anemology that came out of nine. It

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<v Speaker 1>doesn't speak to what the party needs to do. Now.

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<v Speaker 1>In your ute, you used to be with al Hunt

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<v Speaker 1>in the smoke filled rooms at these conventions. Can you

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<v Speaker 1>fathom what Cleveland will be this summer? Smoke filled or not? Right,

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<v Speaker 1>there'll be smoke free, smoke filled rooms. How do you

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<v Speaker 1>how do you get your head around that? Um, it's

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<v Speaker 1>it's almost impossible to fathom. We haven't had anything like

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<v Speaker 1>this really since the fifties and in some ways since earlier.

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<v Speaker 1>Other than that, because and it tells you something about

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<v Speaker 1>the nature of the Trump candidacy. Normally, a candidate who

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<v Speaker 1>built this kind of lead would be embraced by his

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<v Speaker 1>party and the people leaders of the party would say,

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<v Speaker 1>all right, let's get out of the way. This guy

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<v Speaker 1>has secured the nomination. Let's end this thing. Uh. Instead,

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<v Speaker 1>quite the opposite is happening, and large parts of the

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<v Speaker 1>party are saying, no, let's keep this thing going, to

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<v Speaker 1>keep him from getting the delegates. I think the Republicans,

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<v Speaker 1>if things turn out the way they well looked to

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<v Speaker 1>turn out now, which is, Trump ends up with a

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<v Speaker 1>plurality but not a majority of delegates. Um, the party

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<v Speaker 1>faces bad choices either way. They don't put Trump on

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<v Speaker 1>the ticket, and you know, they don't nominate Trump, in

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<v Speaker 1>which case you've got a mass rebellion of all the

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<v Speaker 1>people bowl who voted for him. I just somehow can't

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<v Speaker 1>see Trump accepting that lightly. Maybe he'll be gentle about it,

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<v Speaker 1>but I don't think so. Um. Or on the other side, Um,

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<v Speaker 1>they do nominate Trump and face substantial losses because he's

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<v Speaker 1>clearly running well behind Hillary Clinton. He's got a huge

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<v Speaker 1>disadvantage among women voters. Uh So it's gonna be very

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<v Speaker 1>tough on the party. Is it over for the Republicans? Um?

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<v Speaker 1>You know, I predicting the death of a major political

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<v Speaker 1>party is always problematic. The Republicans split down the middle

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<v Speaker 1>of nine twelve and actually William Howard Taffrey and third

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<v Speaker 1>Teddy Roosevelt, the dissenting Republican rand second, running as a progressive.

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<v Speaker 1>They recouped after losing the Roosevelt in thirty six Goldwater

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<v Speaker 1>and sixty four loss. Uh So, I don't know if

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<v Speaker 1>it's over. I think that the Republican Party as it

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<v Speaker 1>now exists maybe over. I don't know, if you were

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<v Speaker 1>lace the Republican Party. I think it's more likely that

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<v Speaker 1>they go through a period of turmoil and become something

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<v Speaker 1>a little different. Ron Forni of the Atlantic Group, you know,

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<v Speaker 1>on Ultra of Mine, he has an interesting piece in

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<v Speaker 1>the Atlantic today suggesting that what this campaign has done

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<v Speaker 1>has defined deviancy down to use the old mony hand phrase,

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<v Speaker 1>in such a way that politics may not recover for

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<v Speaker 1>a very long time. Um again, I'm sometimes you have

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<v Speaker 1>to hit bot to come up and so, um. I

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<v Speaker 1>think that what we're going to have trouble we're covering

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<v Speaker 1>from is not this campaign, although I agree with Ron

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<v Speaker 1>that particularly on the Republican side, particularly after that debate

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<v Speaker 1>in which we were talking about the size of body parts.

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<v Speaker 1>I mean, if you have told me, I think I've

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<v Speaker 1>said this before, that you know a group of presidential

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<v Speaker 1>candidates were talking the way they were talking, I would

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<v Speaker 1>have told you it's propaganda by enemies of the United States. Um.

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<v Speaker 1>But I think the real question is can we govern

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<v Speaker 1>ourselves after this election? UM. And you know, one of

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<v Speaker 1>the problems, one of the reasons there is all this discontent,

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<v Speaker 1>UM is because the Republicans just haven't been able to

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<v Speaker 1>or willing to work with President Obama on anything. We've

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<v Speaker 1>had this deep divide and I don't know if we're

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<v Speaker 1>going to this election we'll heal that it all. Let's

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<v Speaker 1>come back EJ. Deon with us the book Why the

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<v Speaker 1>Right Went Wrong? Conservatism from very Goldwater to the Tea Party.

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<v Speaker 1>E J. Don has the courage to go beyond Why

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<v Speaker 1>the Right Went Wrong. We'll come back with Mr Deon

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<v Speaker 1>and try to look beyond. The first Tuesday of November

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<v Speaker 1>from New York, this is Bloomberg Surveillance. Bloomberg Surveillance is

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