1 00:00:00,440 --> 00:00:03,160 Speaker 1: Why from our nation's capital, this budget thing is going 2 00:00:03,200 --> 00:00:05,640 Speaker 1: to do nothing. Space Force. I still think it's interesting 3 00:00:05,680 --> 00:00:09,760 Speaker 1: President Trump not playing his cards yet headlines Policy and Politics, 4 00:00:09,800 --> 00:00:15,440 Speaker 1: colliding to sound on with Kevin's relate the insiders, the influencers, insiders. 5 00:00:15,560 --> 00:00:17,799 Speaker 1: I would rather see a congressional solution. It's part of 6 00:00:17,800 --> 00:00:20,960 Speaker 1: my DNA. The Senate map in looks a lot different 7 00:00:21,000 --> 00:00:23,759 Speaker 1: than it looked in. You really have a divide within 8 00:00:24,000 --> 00:00:26,560 Speaker 1: Team Trump. The president has to do exactly what people 9 00:00:26,560 --> 00:00:29,120 Speaker 1: send in here to do, which is to get it done. 10 00:00:29,160 --> 00:00:33,440 Speaker 1: He's sound on with Kevin's He related on Bloomberg one 11 00:00:33,600 --> 00:00:40,200 Speaker 1: and m h D two Boltimore big and bold, big 12 00:00:40,200 --> 00:00:43,879 Speaker 1: and bold, that's how sentiment already. Leader Chuck Schumer and 13 00:00:43,920 --> 00:00:48,959 Speaker 1: how Speaker Nancy Pelosi said the infrastructure plan that they 14 00:00:49,000 --> 00:00:52,879 Speaker 1: discussed with President Trump is going to go. They're going 15 00:00:52,920 --> 00:00:55,000 Speaker 1: to meet again in three weeks at the White House 16 00:00:55,000 --> 00:00:58,280 Speaker 1: with Treasury Secretary Stephen Manusian. But how they're gonna pay 17 00:00:58,320 --> 00:01:01,120 Speaker 1: for it? We'll ask an all star our panel including 18 00:01:01,440 --> 00:01:06,119 Speaker 1: Kevin Walling and Democratic strategist at HG Creative Media, and 19 00:01:06,280 --> 00:01:09,520 Speaker 1: Rick Tyler. He's a Republican strategist and co founder and 20 00:01:09,560 --> 00:01:13,920 Speaker 1: partner at Foundry Strategies and communications director. He was the 21 00:01:13,920 --> 00:01:18,960 Speaker 1: communications director for the Ted Cruise presidential campaign. Plus President 22 00:01:18,959 --> 00:01:23,520 Speaker 1: Trump urging a steep fed rate cut, a Central bankers 23 00:01:23,600 --> 00:01:28,640 Speaker 1: hold their meeting, oh more, politicization of the Central Bank. 24 00:01:28,800 --> 00:01:32,600 Speaker 1: All of that, plus the latest in terms of what 25 00:01:32,680 --> 00:01:34,959 Speaker 1: Congress is going to be up to, and Kelly and Conway. 26 00:01:35,120 --> 00:01:37,480 Speaker 1: I was at the White House earlier today, Kelly and 27 00:01:37,680 --> 00:01:42,119 Speaker 1: Conway talking for more than thirty minutes two reporters. I'll 28 00:01:42,120 --> 00:01:44,199 Speaker 1: bring you the latest. She had one person on her mind, 29 00:01:44,600 --> 00:01:47,720 Speaker 1: former Vice President Joe Biden, before we dive into a 30 00:01:47,880 --> 00:01:50,680 Speaker 1: busy day at the White House. Rick Tyler he is 31 00:01:50,720 --> 00:01:55,720 Speaker 1: a Republican strategist and co founder and partner at Foundry Strategies. 32 00:01:55,800 --> 00:01:58,680 Speaker 1: He is the former communications director for the Ted Cruise 33 00:02:00,040 --> 00:02:02,600 Speaker 1: presidential campaign. Rick, welcome back to the show. Thank you. Kevin. 34 00:02:02,680 --> 00:02:05,120 Speaker 1: Great to be here. And Kevin Walling is a democratic 35 00:02:05,200 --> 00:02:08,720 Speaker 1: strategist at h G Creative Media. keV, You've got a 36 00:02:08,720 --> 00:02:11,440 Speaker 1: great name. Thanks. I love I love yours. Thank you. 37 00:02:11,480 --> 00:02:13,600 Speaker 1: It's a great name. So earlier today, we start out 38 00:02:13,600 --> 00:02:15,200 Speaker 1: the day at the White House. Right, It's a beautiful 39 00:02:15,240 --> 00:02:18,320 Speaker 1: day in Washington, and everyone thinks Okay, we're gonna talk 40 00:02:18,360 --> 00:02:21,400 Speaker 1: about infrastructure and a lot of big developments on infrastructure 41 00:02:21,480 --> 00:02:26,200 Speaker 1: because you have the Democratic leadership from Capitol Hill meeting 42 00:02:26,200 --> 00:02:28,799 Speaker 1: with President Trump, so that you know, in the press corps, 43 00:02:28,840 --> 00:02:31,440 Speaker 1: there's all this buzz on this beautiful day in Washington. 44 00:02:31,919 --> 00:02:34,680 Speaker 1: Isn't gonna be a bad meeting like the last time? 45 00:02:34,880 --> 00:02:38,280 Speaker 1: Remember the last meeting when the cameras and they it 46 00:02:38,360 --> 00:02:40,600 Speaker 1: was like watching and truthfully an episode of The Apprentice, 47 00:02:40,639 --> 00:02:43,840 Speaker 1: like the boardroom, but inside of the oval. Well, this 48 00:02:43,919 --> 00:02:48,079 Speaker 1: meeting went better. But before that meeting even got started, 49 00:02:48,840 --> 00:02:53,880 Speaker 1: Kelly and Conway, Kelly and Conway, Special Counselor to the 50 00:02:53,880 --> 00:02:57,320 Speaker 1: President of the United States, walks out to a gaggle 51 00:02:57,360 --> 00:03:00,959 Speaker 1: of reporters, takes questions, fields questions for more than thirty minutes. 52 00:03:01,240 --> 00:03:04,320 Speaker 1: More than thirty minutes, mind you, more than thirty minutes 53 00:03:04,440 --> 00:03:07,200 Speaker 1: is longer than a White House press and she did 54 00:03:07,200 --> 00:03:10,640 Speaker 1: it all in one breath. Well, no, but she but 55 00:03:10,720 --> 00:03:12,680 Speaker 1: she had one person on her mind, and that's former 56 00:03:12,760 --> 00:03:14,800 Speaker 1: Vice President Joe Biden. We're gonna play a little bit 57 00:03:14,800 --> 00:03:17,400 Speaker 1: of that coming up on later in the show. But 58 00:03:17,440 --> 00:03:21,280 Speaker 1: it really was remarkable how today got started. Uh, not 59 00:03:21,400 --> 00:03:23,880 Speaker 1: to mention we get this big meeting. Did you guys 60 00:03:23,880 --> 00:03:27,280 Speaker 1: follow this meeting with with Speaker Pelosi and Minardi Leader Schumer. 61 00:03:27,639 --> 00:03:30,280 Speaker 1: I was on the air in it, and what did 62 00:03:30,280 --> 00:03:32,400 Speaker 1: you make of it? Because they walk out of the 63 00:03:32,400 --> 00:03:35,360 Speaker 1: Oval Office and the first words out of her mouth 64 00:03:35,400 --> 00:03:39,160 Speaker 1: there it's gonna be big and bold, positive, positive messaging. 65 00:03:39,680 --> 00:03:42,000 Speaker 1: So you mentioned the other meeting. The other meeting was 66 00:03:42,040 --> 00:03:44,360 Speaker 1: when Nancy Chuck and Nancy went to the White House 67 00:03:44,360 --> 00:03:45,320 Speaker 1: and went to the White House. Is that in the 68 00:03:45,400 --> 00:03:47,600 Speaker 1: Oval Office, and they pretty much had their way with 69 00:03:47,640 --> 00:03:49,920 Speaker 1: Donald Trump and their goal was, of course, to get 70 00:03:50,000 --> 00:03:51,840 Speaker 1: him to admit that he would be responsible for a 71 00:03:51,840 --> 00:03:54,200 Speaker 1: government shutdown. He took the bait and did it, and 72 00:03:54,240 --> 00:03:56,920 Speaker 1: then Chuck reaffirmed it if the government shuts down is 73 00:03:56,960 --> 00:03:58,760 Speaker 1: not orful. So we we went through that whole process. Well, 74 00:03:58,800 --> 00:04:00,720 Speaker 1: he wasnt gonna repeat that again, which who study can 75 00:04:00,840 --> 00:04:03,200 Speaker 1: learn and so but we went through the whole meeting, 76 00:04:03,200 --> 00:04:04,840 Speaker 1: and then we're wondering what's going to happen. And then 77 00:04:04,920 --> 00:04:09,040 Speaker 1: Chuck and Nancy came out and um gave their little 78 00:04:09,040 --> 00:04:11,160 Speaker 1: press conference. And you know when you when we talk 79 00:04:11,200 --> 00:04:14,120 Speaker 1: about a trillion dollars in infrastructure, we think, well, but 80 00:04:14,280 --> 00:04:16,760 Speaker 1: that's the thing. We've always been talking about a trillion, 81 00:04:16,839 --> 00:04:18,200 Speaker 1: and then you think, well, maybe would be and he 82 00:04:18,480 --> 00:04:21,200 Speaker 1: made her a billion, maybe behalf of a trillion, but no, 83 00:04:21,680 --> 00:04:24,760 Speaker 1: we gotta go big and bold. Right, So it's two 84 00:04:24,920 --> 00:04:28,839 Speaker 1: trillion dollars in The Democrats seem really really happy about it. 85 00:04:28,920 --> 00:04:31,160 Speaker 1: But we don't know exactly what happened that meeting or 86 00:04:31,200 --> 00:04:33,600 Speaker 1: what Trump thinks about we're going to pay for it. Yeah, 87 00:04:33,640 --> 00:04:36,120 Speaker 1: we haven't seen the readoubt from the President in terms 88 00:04:36,120 --> 00:04:38,839 Speaker 1: of reaction to that meeting. I missed Speaker Posey in 89 00:04:38,839 --> 00:04:41,240 Speaker 1: that orange jacket today. That was the only disappointing thing 90 00:04:41,240 --> 00:04:43,280 Speaker 1: coming out of the White House. But you know, as 91 00:04:43,320 --> 00:04:45,280 Speaker 1: you said, keV, big and bold. They agreed to meet 92 00:04:45,279 --> 00:04:48,120 Speaker 1: again in three weeks with a secretary minution to talk 93 00:04:48,200 --> 00:04:50,640 Speaker 1: about how to actually pay for it. Uh. My belief 94 00:04:50,720 --> 00:04:52,880 Speaker 1: is if you borrowed one point five trillion dollars to 95 00:04:52,880 --> 00:04:55,400 Speaker 1: pay for tax fits for the most wealthy and corporate America, 96 00:04:55,720 --> 00:04:57,240 Speaker 1: you should be able to find the money to pay 97 00:04:57,240 --> 00:05:00,320 Speaker 1: for this. Let's play a little bit from that press 98 00:05:00,360 --> 00:05:05,040 Speaker 1: conference here sentiment Ality leader Chuck Schumer talking about the 99 00:05:05,080 --> 00:05:09,839 Speaker 1: infrastructure meeting. Here, is it's clear that both the White 100 00:05:09,839 --> 00:05:12,360 Speaker 1: House and all of us want to get something done 101 00:05:12,360 --> 00:05:15,560 Speaker 1: on infrastructure in a big and bold way, and there 102 00:05:15,640 --> 00:05:18,320 Speaker 1: was good will in this meeting. And so in addition 103 00:05:18,360 --> 00:05:20,640 Speaker 1: to that, I was struck by two things right top 104 00:05:20,680 --> 00:05:23,880 Speaker 1: line view, two trillion dollar plan, big question on how 105 00:05:23,880 --> 00:05:26,680 Speaker 1: they're going to pay for it. It's going to include broadband, 106 00:05:27,040 --> 00:05:30,480 Speaker 1: broadband broadband. That's a huge win intern for a lot 107 00:05:30,560 --> 00:05:34,280 Speaker 1: of different companies and various particularly and that that they're 108 00:05:34,320 --> 00:05:37,360 Speaker 1: now included in the discussion. That's that's a major underscoring. 109 00:05:37,600 --> 00:05:40,120 Speaker 1: Speaker Pelosi did give a shout out to the Society 110 00:05:40,120 --> 00:05:43,839 Speaker 1: of Civil Engineers are the American Society of Engineering, which 111 00:05:43,880 --> 00:05:49,680 Speaker 1: is another big nonpartisan issue. But then I think you've 112 00:05:49,680 --> 00:05:51,640 Speaker 1: got to look at the politics of all of this, 113 00:05:52,160 --> 00:05:54,760 Speaker 1: and in particular three weeks from now, whether or not 114 00:05:54,800 --> 00:05:57,919 Speaker 1: the President can continue the support from the Democrats but 115 00:05:58,040 --> 00:06:01,200 Speaker 1: also get the support of this whole party. Rick you 116 00:06:01,200 --> 00:06:04,200 Speaker 1: know this, you're a Republican strategists. Something tells me that 117 00:06:04,240 --> 00:06:06,400 Speaker 1: there are folks in the Republican Party who are going 118 00:06:06,400 --> 00:06:08,120 Speaker 1: to be like, wait, how are you gonna pay for this? Well, 119 00:06:08,120 --> 00:06:11,440 Speaker 1: there was curious about several of us. One is uh, 120 00:06:11,760 --> 00:06:14,680 Speaker 1: Nancy Pelosian Chuck soonwhere kept talking about bipartisanship, and yet 121 00:06:14,680 --> 00:06:17,159 Speaker 1: there was no Republicans to be seen. They weren't in 122 00:06:17,160 --> 00:06:22,120 Speaker 1: the meetings. McConnell wasn't there. Leader McCarthy wasn't there, So 123 00:06:22,200 --> 00:06:24,880 Speaker 1: we have yet to understand how. And then they talked 124 00:06:24,920 --> 00:06:26,320 Speaker 1: about not just brought in, which I think is a 125 00:06:26,320 --> 00:06:28,920 Speaker 1: good deal. So look, speaking as a conservative, right, I 126 00:06:28,960 --> 00:06:32,440 Speaker 1: think government should do some things well, and one of 127 00:06:32,480 --> 00:06:35,600 Speaker 1: them is infrastructure, like take care of our roads and bridges, 128 00:06:35,640 --> 00:06:37,920 Speaker 1: so we so truckers have good roads to drive on 129 00:06:38,160 --> 00:06:40,880 Speaker 1: and people who are driving are safe on bridges. There's 130 00:06:40,920 --> 00:06:45,160 Speaker 1: over a hundred bridges in Mississippi alone that are either 131 00:06:45,240 --> 00:06:48,360 Speaker 1: condemned or are on a on a on a watch list. 132 00:06:48,720 --> 00:06:51,760 Speaker 1: And that's a red state, so watch that. I mean, 133 00:06:52,240 --> 00:06:54,000 Speaker 1: you know, not only how who's gonna get paid for, 134 00:06:54,240 --> 00:06:57,120 Speaker 1: but who's infrastructure projects are actually gonna get funded. Yeah, 135 00:06:57,160 --> 00:06:58,840 Speaker 1: it's a great point where, you know, and I was 136 00:06:58,880 --> 00:07:02,560 Speaker 1: actually interested to hear Speaker Polosi and Leader uh Schumer 137 00:07:02,640 --> 00:07:05,280 Speaker 1: talked about the green aspect of it. So they over 138 00:07:05,320 --> 00:07:09,560 Speaker 1: emphasized environmental issues, quality of life, They talked about traffic, 139 00:07:09,600 --> 00:07:12,840 Speaker 1: They talked about jobs, jobs, jobs. Again, the question is 140 00:07:12,840 --> 00:07:15,440 Speaker 1: how to pay for it, and if the President can 141 00:07:15,520 --> 00:07:18,960 Speaker 1: can use some of his negotiating skills to get the 142 00:07:19,000 --> 00:07:22,000 Speaker 1: core elements of his base line. I want to play 143 00:07:22,040 --> 00:07:25,120 Speaker 1: a bit of what Speaker Pelosi had to say about 144 00:07:25,160 --> 00:07:27,560 Speaker 1: the biggest question mark in all of this, which is 145 00:07:27,600 --> 00:07:30,520 Speaker 1: how to pay for Here, Speaker Pelosi, what remains to 146 00:07:30,560 --> 00:07:33,560 Speaker 1: be seen is another we agreed that we would meet 147 00:07:33,600 --> 00:07:38,600 Speaker 1: again to talk about how it would be paid for. Well, 148 00:07:38,720 --> 00:07:40,320 Speaker 1: so no one knows how they're going to pay for it, 149 00:07:40,480 --> 00:07:42,880 Speaker 1: except she put the burden on the president. She put well, 150 00:07:43,000 --> 00:07:44,680 Speaker 1: she put the burden on the president. And but but 151 00:07:44,840 --> 00:07:50,280 Speaker 1: even I mean, I remember, I remember after the mid 152 00:07:50,440 --> 00:07:54,760 Speaker 1: term elections when President Trump addressed us in the in 153 00:07:54,800 --> 00:07:57,480 Speaker 1: the White House Press Corps, and he said, if you're 154 00:07:57,480 --> 00:07:59,560 Speaker 1: going to talk about impeachment, if you're going to talk 155 00:07:59,560 --> 00:08:04,680 Speaker 1: about investigations, no deal. Either investigate or legislate. This is 156 00:08:04,680 --> 00:08:08,520 Speaker 1: the same day, in the same twenty four hour news cycle. 157 00:08:08,760 --> 00:08:13,000 Speaker 1: This is a White House that has issued legal documents 158 00:08:13,000 --> 00:08:15,880 Speaker 1: to say that they're not going to Deutsche Bank, to 159 00:08:16,000 --> 00:08:20,360 Speaker 1: say that they are not going to comply with these investigations. 160 00:08:20,400 --> 00:08:23,320 Speaker 1: And on Capitol Hill and Speaker Pelosi was asked about 161 00:08:23,360 --> 00:08:26,040 Speaker 1: that as was Senate min Alarity Leader Chuck Schumer, and 162 00:08:26,120 --> 00:08:29,240 Speaker 1: Schumer said that you can essentially walk and chew gum 163 00:08:29,240 --> 00:08:31,560 Speaker 1: at the same time. And literally in that meeting, you 164 00:08:31,600 --> 00:08:35,120 Speaker 1: had Richie Neil, congressman from Massachusetts, chairman of the Ways 165 00:08:35,120 --> 00:08:37,840 Speaker 1: and Means Committee, who has been demanding the president's tax 166 00:08:37,840 --> 00:08:40,360 Speaker 1: returns on the couch talking to him about infrastructure. It's 167 00:08:40,360 --> 00:08:42,600 Speaker 1: gonna be interesting to see this dynamic at play. See, 168 00:08:42,600 --> 00:08:44,200 Speaker 1: I think there's something else going on here. Right, we 169 00:08:44,240 --> 00:08:46,640 Speaker 1: didn't hear from the president, and the Democrats came out 170 00:08:46,679 --> 00:08:48,360 Speaker 1: and they were all happy. They seem to get everything 171 00:08:48,400 --> 00:08:51,880 Speaker 1: they want and more like maybe even a trillion dollars more. Uh, 172 00:08:51,920 --> 00:08:54,959 Speaker 1: And it looked all really good. But was that that 173 00:08:55,240 --> 00:08:56,679 Speaker 1: was the case the last time with the Chuck in 174 00:08:56,720 --> 00:08:59,319 Speaker 1: Nancy meeting before the most recent one. He agreed to 175 00:08:59,360 --> 00:09:02,440 Speaker 1: everything the Democrats put down, right, And so you know, 176 00:09:02,720 --> 00:09:04,840 Speaker 1: I remain a skeptic whether this whole thing is actually 177 00:09:04,840 --> 00:09:07,360 Speaker 1: going to get done. I'm skeptical because it's something everyman 178 00:09:07,440 --> 00:09:09,440 Speaker 1: should do. This is what's something that we should agree 179 00:09:09,520 --> 00:09:11,200 Speaker 1: that we need to get done. And listen, we don't 180 00:09:11,200 --> 00:09:14,440 Speaker 1: even have resolution on the disaster relief packages, but facing 181 00:09:14,440 --> 00:09:17,040 Speaker 1: Congress right now. That should be a no brainer agreement point, 182 00:09:17,040 --> 00:09:18,560 Speaker 1: and we can't get that done. It's like if you 183 00:09:18,600 --> 00:09:21,320 Speaker 1: were looking at today in the history book, you've got 184 00:09:21,360 --> 00:09:24,960 Speaker 1: one data point of positivity in terms of democratic leadership. 185 00:09:25,280 --> 00:09:28,040 Speaker 1: You've got a White House going after Deutsche Bank and saying, 186 00:09:28,040 --> 00:09:30,360 Speaker 1: but they're not going to comply with the investigations. And 187 00:09:30,400 --> 00:09:32,880 Speaker 1: you've got a senior advisor and Kelly and Conway just 188 00:09:33,000 --> 00:09:36,400 Speaker 1: before that meeting going after who could be the Democratic 189 00:09:36,440 --> 00:09:39,640 Speaker 1: presidential nominee Joe Biden coming up more from Kelly an 190 00:09:39,760 --> 00:09:43,800 Speaker 1: Conway panel stays. You can download the sound on podcast 191 00:09:43,880 --> 00:09:47,240 Speaker 1: on Apple iTunes, at Bloomberg dot com, or by downloading 192 00:09:47,240 --> 00:09:49,400 Speaker 1: the Bloomberg Business app. You can also check us out 193 00:09:49,640 --> 00:09:53,439 Speaker 1: on Radio dot Com, I Heart Radio, and Spotify. I'm 194 00:09:53,520 --> 00:09:56,400 Speaker 1: Kevin's really beautiful night hear in Washington. You're listening to 195 00:09:56,400 --> 00:10:04,320 Speaker 1: Bloomberg nine one. This is zound on. We're ready to 196 00:10:04,320 --> 00:10:06,680 Speaker 1: make a real deal, not the deal that was done 197 00:10:06,920 --> 00:10:09,120 Speaker 1: having big problems. I don't want them to have bro 198 00:10:09,559 --> 00:10:11,880 Speaker 1: Our stock market is way up. I always want to 199 00:10:11,880 --> 00:10:13,959 Speaker 1: tell the truth what I can. I tell the truth 200 00:10:14,280 --> 00:10:20,120 Speaker 1: behind the tweet on Bloomberg and one oh five seven 201 00:10:20,240 --> 00:10:23,920 Speaker 1: f m h D two, Baltimore. Behind the Tweet. It's 202 00:10:24,000 --> 00:10:28,000 Speaker 1: that series that we do when the President tweets something, well, 203 00:10:28,120 --> 00:10:30,040 Speaker 1: he tweets all the time, but when he tweets something 204 00:10:30,080 --> 00:10:33,440 Speaker 1: that we feel we should flag and dive into the 205 00:10:33,559 --> 00:10:37,320 Speaker 1: policy behind it. I'm joined for the hour by my 206 00:10:37,360 --> 00:10:40,440 Speaker 1: good friends Rick Tyler, Republican strategist and co founder and 207 00:10:40,480 --> 00:10:44,800 Speaker 1: partner of Foundry Strategies. He's also the former communications director 208 00:10:44,840 --> 00:10:50,359 Speaker 1: for the Ted Cruise presidential campaign. And Kevin Walling, Democratic 209 00:10:50,440 --> 00:10:55,040 Speaker 1: strategist at HG Creative Media. And I'm Kevin CURRELLI, Chief 210 00:10:55,040 --> 00:10:59,560 Speaker 1: Washington correspondent for Bloomberg Television and Bloomberg Radio. You know, 211 00:10:59,600 --> 00:11:03,079 Speaker 1: earlier in the program, we were talking about the policy 212 00:11:03,160 --> 00:11:06,800 Speaker 1: behind the infrastructure meeting with Democratic leadership that went on 213 00:11:06,920 --> 00:11:10,320 Speaker 1: today at the White House and how there was positive 214 00:11:10,400 --> 00:11:14,800 Speaker 1: rhetoric coming out after that meeting when Speaker Pelosi and 215 00:11:14,880 --> 00:11:18,400 Speaker 1: Minority Leader Schumer went to the sticks, as they're called 216 00:11:18,440 --> 00:11:21,240 Speaker 1: the sticks. Did you know that they're called that the sticks? 217 00:11:21,800 --> 00:11:25,400 Speaker 1: Right outside of the Oval Office, there are sticks of 218 00:11:25,480 --> 00:11:28,920 Speaker 1: microphones for people who are in the Oval Office to 219 00:11:28,960 --> 00:11:31,040 Speaker 1: come out and talk. And they said that they want 220 00:11:31,080 --> 00:11:34,040 Speaker 1: to go quote unquote big and bold, big and bold 221 00:11:34,080 --> 00:11:38,079 Speaker 1: on infrastructure. But dot dot dot to be continued because 222 00:11:38,120 --> 00:11:41,800 Speaker 1: they're going to have another meeting in three weeks. So 223 00:11:41,920 --> 00:11:46,440 Speaker 1: all of this is going on. President Trump tweeted, and 224 00:11:46,480 --> 00:11:50,480 Speaker 1: he tweeted that quote China is adding great stimulus to 225 00:11:50,600 --> 00:11:54,600 Speaker 1: its economy will at the same time keeping interest rates low. 226 00:11:55,200 --> 00:12:00,200 Speaker 1: Our FED has incessantly lifted interest rate even though inflation 227 00:12:00,280 --> 00:12:02,839 Speaker 1: is very low, and instituted a very big dose of 228 00:12:02,920 --> 00:12:06,280 Speaker 1: quantitative tightening. We have the potential to go up like 229 00:12:06,320 --> 00:12:09,520 Speaker 1: a rocket if we did some lowering of rates like 230 00:12:09,640 --> 00:12:12,959 Speaker 1: one point and some quantitative easing. Yes, we are doing 231 00:12:13,080 --> 00:12:15,440 Speaker 1: very well with three point two GDP, but with our 232 00:12:15,559 --> 00:12:19,360 Speaker 1: wonderfully low inflation, we could be setting major records and 233 00:12:19,400 --> 00:12:22,160 Speaker 1: at the same time make our national debt start to 234 00:12:22,320 --> 00:12:25,920 Speaker 1: look small. So all of this comes as the president 235 00:12:26,000 --> 00:12:31,160 Speaker 1: tweets as beteficials begin their two day meeting, or began 236 00:12:31,200 --> 00:12:34,240 Speaker 1: a two day meeting in Washington, right, I mean you're Republicans, 237 00:12:34,280 --> 00:12:36,240 Speaker 1: like you know you're gonna get my first question here. 238 00:12:36,800 --> 00:12:39,800 Speaker 1: It used to be when the FETE is meeting, the 239 00:12:39,840 --> 00:12:45,520 Speaker 1: president should not talk about the Independent Central Bank. This 240 00:12:45,520 --> 00:12:48,760 Speaker 1: sweet indicates otherwise, why is he tweeting this, Well, that's right. 241 00:12:48,800 --> 00:12:51,280 Speaker 1: I mean the Federal Reserve. And there's plenty of criticism 242 00:12:51,360 --> 00:12:53,200 Speaker 1: to share about the Fetter Reserve, but it is supposed 243 00:12:53,200 --> 00:12:55,000 Speaker 1: to be an independent branch and it was set aside 244 00:12:55,760 --> 00:12:59,000 Speaker 1: from political concerns, and the president had a political concern 245 00:12:59,080 --> 00:13:03,000 Speaker 1: and his concerns at the economy keep roaring forward. Um, 246 00:13:03,320 --> 00:13:06,520 Speaker 1: and look, you know what the fet is actually concerned 247 00:13:06,520 --> 00:13:11,760 Speaker 1: about right now? What deflation? Because their arbitrary benchmark is 248 00:13:11,800 --> 00:13:15,360 Speaker 1: two uh inflation and we're currently at one point six. 249 00:13:15,960 --> 00:13:17,640 Speaker 1: And you know what they'll say, you don't know, they 250 00:13:17,679 --> 00:13:20,000 Speaker 1: don't know why it's happening, Like they don't know why 251 00:13:20,040 --> 00:13:23,240 Speaker 1: it's happening. So you know, they're not moving rates, and 252 00:13:23,400 --> 00:13:25,840 Speaker 1: Trump wants them to cut them to make to make 253 00:13:26,640 --> 00:13:30,760 Speaker 1: access to capital easier. But they're probably right along. But 254 00:13:30,800 --> 00:13:33,120 Speaker 1: what I think Trump is doing politically, he's setting up 255 00:13:33,120 --> 00:13:35,560 Speaker 1: a fall guy. Right. So if we do have a 256 00:13:36,360 --> 00:13:38,240 Speaker 1: I'm not saying we're going to have a recession, but 257 00:13:38,320 --> 00:13:40,520 Speaker 1: let's just say we have. There's a debate about whether 258 00:13:40,600 --> 00:13:43,000 Speaker 1: or not there's gonna be there. Maybe, but there's a setback. 259 00:13:43,000 --> 00:13:44,680 Speaker 1: He wants to be able to say it's not my fault, 260 00:13:44,720 --> 00:13:46,680 Speaker 1: it's Fed's fault. I've been telling them all along. Yeah, 261 00:13:46,679 --> 00:13:48,360 Speaker 1: I mean, I couldn't agree with Rick Moore in terms 262 00:13:48,400 --> 00:13:51,040 Speaker 1: of the idea that the President setting this the FED 263 00:13:51,120 --> 00:13:53,160 Speaker 1: up is of all, guy, you know, you went after 264 00:13:53,240 --> 00:13:56,160 Speaker 1: drum Pal that, you know, the chairman that he installed. 265 00:13:56,200 --> 00:13:58,599 Speaker 1: I mean, the last time you know, we called for 266 00:13:58,640 --> 00:14:00,920 Speaker 1: a one percent reduction was during the height of the 267 00:14:00,960 --> 00:14:03,600 Speaker 1: recession in two thousand eight, to literally save the economy. 268 00:14:03,679 --> 00:14:06,679 Speaker 1: So either he doesn't really understand, I think, the fundamentals 269 00:14:06,679 --> 00:14:09,240 Speaker 1: of our economy, or he's actually you know, trying to 270 00:14:09,280 --> 00:14:11,600 Speaker 1: be strategic here and make the FED the enemy. Well, 271 00:14:11,679 --> 00:14:13,880 Speaker 1: I think even beyond this right, and and and and 272 00:14:13,960 --> 00:14:17,040 Speaker 1: this specific tweet which he tweets the same day as 273 00:14:17,080 --> 00:14:19,280 Speaker 1: the infrastructure meeting, and I do want to note that 274 00:14:19,320 --> 00:14:23,400 Speaker 1: there is debate amongst Federal Reserve and a national economists 275 00:14:23,400 --> 00:14:28,080 Speaker 1: about whether or not our economy could absorb economic stimulus 276 00:14:28,120 --> 00:14:31,600 Speaker 1: from something like a massive infrastructure plan, and whether or 277 00:14:31,640 --> 00:14:34,400 Speaker 1: not that would have negative impacts. There are are smart 278 00:14:34,440 --> 00:14:37,160 Speaker 1: folks who say it could. They're smart folks who say, hey, 279 00:14:37,200 --> 00:14:40,000 Speaker 1: maybe not so fast. But that's so that is a 280 00:14:40,000 --> 00:14:43,960 Speaker 1: debate that's happening on infrastructure. The President also makes note 281 00:14:44,040 --> 00:14:47,280 Speaker 1: of China. And this is the week where Treasury Secretary 282 00:14:47,280 --> 00:14:51,360 Speaker 1: Stephen Manution and US Trade Representative Bob Leightheizer are are 283 00:14:51,440 --> 00:14:55,040 Speaker 1: over in Beijing negotiating in the final stages of the 284 00:14:55,120 --> 00:14:59,200 Speaker 1: U S. China trade deal, and and Secretary of Manution 285 00:14:59,240 --> 00:15:01,240 Speaker 1: had said public over the weekend to the New York 286 00:15:01,280 --> 00:15:04,120 Speaker 1: Times that this is in the final laps. So they 287 00:15:04,160 --> 00:15:07,240 Speaker 1: say so, so they said so. The President clearly though, 288 00:15:07,240 --> 00:15:09,760 Speaker 1: in this suite, talking about the Central Bank, with a 289 00:15:09,800 --> 00:15:13,680 Speaker 1: debate going on about a potential recession, talking about China 290 00:15:13,800 --> 00:15:17,080 Speaker 1: as these trade talks continue, and let's not forget while 291 00:15:17,080 --> 00:15:20,120 Speaker 1: we're talking about the Fed, he nominated two people to 292 00:15:20,200 --> 00:15:23,520 Speaker 1: the Fedboard, one of which Herman Kane had to withdraw 293 00:15:23,640 --> 00:15:27,160 Speaker 1: because the intense, the intense scrutiny. And now we hear 294 00:15:27,160 --> 00:15:30,760 Speaker 1: from Stephen Moore, a smart and conservative circles, a well 295 00:15:30,800 --> 00:15:35,160 Speaker 1: known firebrand and conservative circles, and his chances for winning 296 00:15:35,200 --> 00:15:38,440 Speaker 1: a seat on the Federal Reserve Board are looking increasingly 297 00:15:38,480 --> 00:15:44,000 Speaker 1: uncertain because today Senator Lindsey Graham, a Republican from South Carolina, 298 00:15:44,080 --> 00:15:47,680 Speaker 1: a Frederick of President Trump, told reporters that more would 299 00:15:47,680 --> 00:15:52,400 Speaker 1: be a quote unquote very problematic nomination. You combine that 300 00:15:52,480 --> 00:15:56,600 Speaker 1: with Senators Richard Shelby, a conservative from Alabama, and Senator 301 00:15:56,640 --> 00:16:00,400 Speaker 1: Joy Ernst, a Republican from Iowa. I mean even more 302 00:16:00,400 --> 00:16:03,320 Speaker 1: in the Fedrick, I mean, it's not looking good. Clearly 303 00:16:03,360 --> 00:16:05,600 Speaker 1: limbs of Graham had a conversation with the President Trump 304 00:16:05,600 --> 00:16:08,360 Speaker 1: and he didn't listen to him. So the second default 305 00:16:08,400 --> 00:16:11,920 Speaker 1: is to go to the media and say, especially maybe 306 00:16:12,000 --> 00:16:16,520 Speaker 1: he'll hear it. That way it works. Yeah, yeah, if 307 00:16:16,520 --> 00:16:18,840 Speaker 1: you can't get attention to your boss, you know he 308 00:16:18,920 --> 00:16:26,360 Speaker 1: does read the paper, right right, Um, so go ahead 309 00:16:26,400 --> 00:16:29,440 Speaker 1: and listen. Very problematic is Washington speak for it. Do 310 00:16:29,480 --> 00:16:31,680 Speaker 1: not put this person up here, you know, in a 311 00:16:31,800 --> 00:16:34,120 Speaker 1: nice way to say it. But when you've lost Lindsey Graham, 312 00:16:34,120 --> 00:16:35,760 Speaker 1: if you're Donald Trump, you know, you might as well 313 00:16:35,800 --> 00:16:37,920 Speaker 1: throw in the towel. Alright, coming up, we're gonna talk 314 00:16:38,000 --> 00:16:41,120 Speaker 1: more politics, more policy. We hear from Kelly and Conway 315 00:16:41,120 --> 00:16:43,920 Speaker 1: and that gaggle as it's referred to in the biz 316 00:16:44,320 --> 00:16:46,840 Speaker 1: that she had for more than thirty minutes with reporters. 317 00:16:46,880 --> 00:16:49,840 Speaker 1: Download the sound on podcast on Apple, it tunes, at 318 00:16:49,840 --> 00:16:53,280 Speaker 1: Bloomberg dot com, or by downloading the Bloomberg Business app. 319 00:16:53,320 --> 00:16:55,320 Speaker 1: You can also check us out on radio dot Com, 320 00:16:55,360 --> 00:16:59,280 Speaker 1: I Heart Radio and Spotify. I'm Kevin Siillian. You are 321 00:16:59,360 --> 00:17:06,320 Speaker 1: listening to Burge one. You're listening to sound On with 322 00:17:06,400 --> 00:17:10,600 Speaker 1: Kevin's really on Bloomberg one and one oh five point 323 00:17:10,680 --> 00:17:15,080 Speaker 1: seven F M H D two boltemoremmy, what is the 324 00:17:15,119 --> 00:17:19,160 Speaker 1: problem Francesco with the Democratic primary electant that they are? 325 00:17:19,200 --> 00:17:22,040 Speaker 1: They sexists and racist? Do they not want all the 326 00:17:22,119 --> 00:17:24,359 Speaker 1: all these women who are running, all these people of color, 327 00:17:24,480 --> 00:17:28,520 Speaker 1: because apparently you got the two old white straight men, 328 00:17:28,880 --> 00:17:32,120 Speaker 1: career politicians in the lead, Bernie Anders and Joe Biden. 329 00:17:32,119 --> 00:17:34,400 Speaker 1: You gotta go take that off with the Democratic primary electorate. 330 00:17:34,400 --> 00:17:36,159 Speaker 1: I'm not in there polling. Donald Trump doesn't vote in 331 00:17:36,160 --> 00:17:41,639 Speaker 1: the Democratic primaries. Oh listening? That was Kelly and Conway 332 00:17:42,280 --> 00:17:46,479 Speaker 1: just a small snippet of her press conference really with 333 00:17:46,880 --> 00:17:49,200 Speaker 1: the White House Press Corps earlier today at the White House, 334 00:17:49,359 --> 00:17:50,520 Speaker 1: And let me tell you, I was at the White 335 00:17:50,520 --> 00:17:53,320 Speaker 1: House earlier today. That was all anybody was talking about, 336 00:17:53,359 --> 00:17:57,520 Speaker 1: even more so than Speaker Pelosi and Minority Leader Chuck 337 00:17:57,520 --> 00:18:02,359 Speaker 1: Schumer having that meeting with President Trump about infrastructure. Kelly 338 00:18:02,440 --> 00:18:06,639 Speaker 1: and Conway walks out before that meeting, talks to reporters, 339 00:18:06,680 --> 00:18:10,120 Speaker 1: including our colleague in the White House Press Corps, Francesca Chambers, 340 00:18:10,760 --> 00:18:16,440 Speaker 1: who writes for the Daily Mail, uh, and completely just 341 00:18:16,760 --> 00:18:21,760 Speaker 1: goes after a former Vice President, Joe Biden, who of 342 00:18:21,800 --> 00:18:27,639 Speaker 1: course was giving a speech earlier today and making the 343 00:18:27,720 --> 00:18:33,560 Speaker 1: case going after the same working class voters that President 344 00:18:33,560 --> 00:18:35,879 Speaker 1: Trump was able to win in the previous election in 345 00:18:35,960 --> 00:18:43,120 Speaker 1: states like Pennsylvania where I grew up, as well as Michigan, Wisconsin, UH, Florida, 346 00:18:43,160 --> 00:18:46,840 Speaker 1: obviously Ohio. So it's interesting. I'm joined for the hour 347 00:18:46,960 --> 00:18:49,520 Speaker 1: by some folks who know a thing or two about 348 00:18:49,560 --> 00:18:52,679 Speaker 1: elections and know a thing or two about battleground states. 349 00:18:52,920 --> 00:18:55,520 Speaker 1: Rick Tyler is a Republican strategist and co founder and 350 00:18:55,560 --> 00:18:58,960 Speaker 1: partner at Foundry Strategies. He was the communications director for 351 00:18:59,080 --> 00:19:02,879 Speaker 1: the Ted Cruised One sixteen presidential campaign. Kevin Walling is 352 00:19:02,920 --> 00:19:06,240 Speaker 1: a Democratic strategist at h G Creative Media. Okay, Kevin, 353 00:19:06,320 --> 00:19:08,720 Speaker 1: you hear from Kelly and Conway from more than thirty 354 00:19:08,720 --> 00:19:14,800 Speaker 1: minutes today going after Joe Biden. Yeah, I mean, clearly 355 00:19:14,800 --> 00:19:17,199 Speaker 1: they're they're very nervous, they're scared. You can see from 356 00:19:17,200 --> 00:19:20,280 Speaker 1: the President's Twitter account just how how serious they're taking 357 00:19:20,280 --> 00:19:22,480 Speaker 1: this challenge by Vice President Biden. I mean, I think 358 00:19:22,520 --> 00:19:26,400 Speaker 1: it's it's silly and bogus for someone like Kelly and Conway, 359 00:19:26,400 --> 00:19:28,440 Speaker 1: who works for a guy who got the lowest number 360 00:19:28,840 --> 00:19:31,959 Speaker 1: of votes from people of color in a generation as 361 00:19:31,960 --> 00:19:35,560 Speaker 1: a Republican, to be out there talking about democratic politics 362 00:19:36,160 --> 00:19:38,560 Speaker 1: in this primary. Joe Biden's got a lot of support 363 00:19:38,600 --> 00:19:41,600 Speaker 1: from across the board. His numbers are huge in South Carolina, 364 00:19:41,680 --> 00:19:44,840 Speaker 1: where African Americans make up a good portion of that electorate, 365 00:19:44,880 --> 00:19:46,439 Speaker 1: so he's going to play well across the board. She 366 00:19:46,440 --> 00:19:48,720 Speaker 1: also didn't seem to notice that her own boss is 367 00:19:48,760 --> 00:19:50,960 Speaker 1: in his seventies and a in a white, straight male 368 00:19:51,000 --> 00:19:54,240 Speaker 1: the ones she was criticizing as well. Look, I think 369 00:19:54,320 --> 00:19:56,880 Speaker 1: Joe Biden actually surprised a lot of people and played 370 00:19:56,920 --> 00:19:59,840 Speaker 1: this very smart. He went right for Donald Trump, and 371 00:20:00,000 --> 00:20:02,600 Speaker 1: nobody else had really done that, and they were vary 372 00:20:03,280 --> 00:20:07,000 Speaker 1: strategic reasons why people thought that. But Joe Biden's best 373 00:20:07,400 --> 00:20:10,359 Speaker 1: attribute is that he can make a case that I 374 00:20:10,400 --> 00:20:13,200 Speaker 1: can beat uh Donald Trump, and I think he's right 375 00:20:13,200 --> 00:20:15,320 Speaker 1: about that, and the fact that he raised six point 376 00:20:15,359 --> 00:20:18,080 Speaker 1: three million dollars in twenty four hours beating everybody else 377 00:20:18,840 --> 00:20:21,520 Speaker 1: is a game changer. And of course they're worried about 378 00:20:21,600 --> 00:20:26,399 Speaker 1: him because Joe Biden could could be beat Donald Trump. 379 00:20:26,400 --> 00:20:31,000 Speaker 1: Why because he's lunch bucket drow from Scranton, Pennsylvania. You know, Rick, 380 00:20:31,119 --> 00:20:33,639 Speaker 1: welcome to team Joe Biden. We are so excited that. 381 00:20:35,600 --> 00:20:36,760 Speaker 1: I know I get that a lot, but I'm a 382 00:20:36,760 --> 00:20:39,080 Speaker 1: political analyst. I just call it as I see him. 383 00:20:39,320 --> 00:20:41,600 Speaker 1: I call balls and strikes. I don't care who strikes out. 384 00:20:42,040 --> 00:20:45,800 Speaker 1: Joe made a very smart launchen. Some of this made 385 00:20:45,840 --> 00:20:48,159 Speaker 1: good launches too, but not everybody. So what's it? So? 386 00:20:48,240 --> 00:20:51,200 Speaker 1: Over the weekend was the White House Correspondence Center and 387 00:20:51,320 --> 00:20:55,560 Speaker 1: I'm there and I bumped into uh I a f 388 00:20:55,560 --> 00:21:00,640 Speaker 1: F general president, Harold Shaper Firefighters. So there they they 389 00:21:00,720 --> 00:21:05,560 Speaker 1: represent the largest, the International Association of Firefighters, so the 390 00:21:05,600 --> 00:21:09,159 Speaker 1: Firefighter Union. And I asked them and I said, you 391 00:21:09,200 --> 00:21:11,840 Speaker 1: know it was it was not not a secret that 392 00:21:11,840 --> 00:21:14,840 Speaker 1: they were going to come out today and endorse former 393 00:21:14,920 --> 00:21:18,360 Speaker 1: Vice President Biden. But I said, okay, so why and 394 00:21:18,359 --> 00:21:22,800 Speaker 1: and and do you, sir, with all due respect, no disrespect, mentioned, 395 00:21:23,440 --> 00:21:26,359 Speaker 1: do you carry the message for your members? Because that 396 00:21:26,440 --> 00:21:29,520 Speaker 1: was the biggest development. Rick. You know this, Kevin, you 397 00:21:29,560 --> 00:21:31,800 Speaker 1: know this, that was the biggest twist in the last cycle, 398 00:21:31,840 --> 00:21:35,080 Speaker 1: which was you had the top line union leaders, the bosses, 399 00:21:35,400 --> 00:21:41,119 Speaker 1: the boss of the unions endorsing Hillary. And then you 400 00:21:41,200 --> 00:21:44,840 Speaker 1: had the folks in the unions that I interviewed on 401 00:21:44,880 --> 00:21:48,520 Speaker 1: the campaign trail, and they were telling a very different story, Kevin, 402 00:21:48,600 --> 00:21:51,440 Speaker 1: So why why is it different this time? Kevin's a 403 00:21:51,440 --> 00:21:54,280 Speaker 1: great point. I mean, we we lost union households, right 404 00:21:54,320 --> 00:21:56,960 Speaker 1: when when folks, you know, in my estimation, we're voting 405 00:21:56,960 --> 00:21:59,280 Speaker 1: against their own self interest because you know, President has 406 00:21:59,400 --> 00:22:01,480 Speaker 1: put forward is for right to work across the board 407 00:22:01,600 --> 00:22:04,960 Speaker 1: at nationwide. But you know, I think in the case 408 00:22:05,000 --> 00:22:07,840 Speaker 1: of the firefighters, they've always been passionate about Joe Biden. 409 00:22:07,880 --> 00:22:09,600 Speaker 1: I think they endorsed him back in two thousand and 410 00:22:09,640 --> 00:22:12,240 Speaker 1: eight when he was running against the field with Barack 411 00:22:12,240 --> 00:22:15,720 Speaker 1: Obama and Hillary Clinton in that fight. But he is 412 00:22:15,720 --> 00:22:17,800 Speaker 1: going to make a play again. It's seventy thousand votes 413 00:22:17,840 --> 00:22:21,280 Speaker 1: across three states was what decided the electoral college again, 414 00:22:21,280 --> 00:22:24,000 Speaker 1: many of them white working class. He's making a fight 415 00:22:24,080 --> 00:22:27,240 Speaker 1: for the soul of this nation based on engaging with 416 00:22:27,280 --> 00:22:29,960 Speaker 1: the middle class. So Biden gives an interview. In his 417 00:22:30,119 --> 00:22:34,199 Speaker 1: first interview since announcing his candidacy, he sat down with 418 00:22:34,240 --> 00:22:38,960 Speaker 1: ABC's Robin Rod Roberts, and she asked if if he 419 00:22:39,040 --> 00:22:41,680 Speaker 1: was confident that he's going to win the nomination. Here 420 00:22:41,760 --> 00:22:44,399 Speaker 1: here's what the former Vice president said in response to 421 00:22:44,440 --> 00:22:47,280 Speaker 1: that question, Whether I win the nomination, I was going 422 00:22:47,320 --> 00:22:50,680 Speaker 1: to depend on the Democrats and whether or not beat 423 00:22:50,720 --> 00:22:54,159 Speaker 1: Donald Trump is going to depend on American people. But um, 424 00:22:54,920 --> 00:22:58,359 Speaker 1: you're gonna said everyone Donald Trump. So I was talking 425 00:22:58,400 --> 00:23:00,840 Speaker 1: about this with some of my colleagues earlier today, Rick, 426 00:23:00,880 --> 00:23:03,520 Speaker 1: which was during the last cycle there was a crowded 427 00:23:03,520 --> 00:23:06,600 Speaker 1: Republican field and no one thought Trump was going to win. 428 00:23:06,680 --> 00:23:10,840 Speaker 1: But he was still the magnet and everyone was reactionary 429 00:23:10,960 --> 00:23:14,800 Speaker 1: to his comments, his tweets and whatnot. He still remains 430 00:23:14,840 --> 00:23:17,920 Speaker 1: the magnet. There doesn't appear right now to be in 431 00:23:17,960 --> 00:23:21,600 Speaker 1: the twenty candidates on the left running a singular force 432 00:23:22,280 --> 00:23:26,879 Speaker 1: who is driving the conversation. They're all still reactionary to Trump. 433 00:23:26,960 --> 00:23:31,520 Speaker 1: Is it smart politics for Biden to target Trump and 434 00:23:31,640 --> 00:23:36,359 Speaker 1: not target the field or does he risk being reactionary? 435 00:23:36,440 --> 00:23:38,960 Speaker 1: You know, the Democrats say that they want to talk 436 00:23:38,960 --> 00:23:40,640 Speaker 1: about issues, and I believe they do. In the number 437 00:23:40,640 --> 00:23:42,680 Speaker 1: one issue comes up with climate change, and you'll see 438 00:23:42,680 --> 00:23:44,280 Speaker 1: that over Omna Poles again. But I think there's an 439 00:23:44,320 --> 00:23:46,520 Speaker 1: underlying thing that people aren't really saying they want to 440 00:23:46,520 --> 00:23:49,480 Speaker 1: be Trump because they realize that unless Donald Trump is beaten, 441 00:23:49,520 --> 00:23:52,280 Speaker 1: they don't get climate change, they don't get transportation, infrastructure, 442 00:23:52,280 --> 00:23:53,520 Speaker 1: they don't get all the things they want to get. 443 00:23:53,680 --> 00:23:56,880 Speaker 1: They've got to beat Trump first. That's just a situation, uh, 444 00:23:56,960 --> 00:23:58,840 Speaker 1: that they're in. All right, coming up, we're going to 445 00:23:58,920 --> 00:24:02,639 Speaker 1: switch gears. We're gonna talk about the escalating since situation 446 00:24:02,720 --> 00:24:06,359 Speaker 1: in Venezuela. And we have Congressman John Garamndy. He's a 447 00:24:06,400 --> 00:24:08,960 Speaker 1: Democrat from California. He's going to join us to give 448 00:24:09,040 --> 00:24:12,920 Speaker 1: us an update on the situation in Venezuela. Much more 449 00:24:12,960 --> 00:24:17,600 Speaker 1: with the panel, Kevin Walling, Democratic strategist, Rick Tyler, Republican strategist, 450 00:24:17,600 --> 00:24:21,040 Speaker 1: and I'm Kevin Cirelli, Chief Washington correspondent for Bloomberg Television 451 00:24:21,359 --> 00:24:24,439 Speaker 1: and Bloomberg Radio. You can download the sound on podcast 452 00:24:24,680 --> 00:24:27,920 Speaker 1: on Apple iTunes, at Bloomberg dot com, or by downloading 453 00:24:27,960 --> 00:24:30,920 Speaker 1: the Bloomberg Business app. You can also check us out 454 00:24:31,119 --> 00:24:33,399 Speaker 1: as well as my colleagues on radio dot com, I 455 00:24:33,520 --> 00:24:37,240 Speaker 1: Heart Radio, and Spotify. I'm Kevin CURRELLI you're listening to 456 00:24:37,280 --> 00:24:44,840 Speaker 1: Bloomberg one. This is sound on with Kevin's really on 457 00:24:44,960 --> 00:24:48,399 Speaker 1: Bloomberg one and one oh five point seven f m 458 00:24:48,520 --> 00:24:51,840 Speaker 1: h D two Bolsom or really, now, what we're seeing 459 00:24:51,880 --> 00:24:54,280 Speaker 1: is the people of Venezuela. This has been building for 460 00:24:54,320 --> 00:24:58,560 Speaker 1: a long time that if this effort fails, they will 461 00:24:58,600 --> 00:25:02,200 Speaker 1: sink into a dictator from which there are very few 462 00:25:02,280 --> 00:25:07,719 Speaker 1: possible alternatives. That was National Security Advisor John Bolton talking 463 00:25:07,720 --> 00:25:11,879 Speaker 1: to reporters at the White House earlier Tuesday afternoon. Uh 464 00:25:12,280 --> 00:25:15,639 Speaker 1: this as he also added, the President Trump wants to 465 00:25:15,680 --> 00:25:20,520 Speaker 1: see a peaceful transition of power in Venezuela, as the 466 00:25:20,560 --> 00:25:25,600 Speaker 1: situation continues to escalate, with Venezuelan opposition leader, the interim 467 00:25:25,600 --> 00:25:30,280 Speaker 1: President pongway No, rallying for military support in a bold 468 00:25:30,280 --> 00:25:35,000 Speaker 1: attempt to seize control of the country from dictator Nicholas Maduro. 469 00:25:35,160 --> 00:25:38,800 Speaker 1: I'm Kevin Surli, chief Washington correspondent from Bloomberg Television and 470 00:25:38,920 --> 00:25:42,719 Speaker 1: Bloomberg Radio. I'm joined by Rick Tyler, a Republican strategist, 471 00:25:42,760 --> 00:25:47,800 Speaker 1: and Kevin Walling, a Democratic strategist, and we've been following 472 00:25:47,840 --> 00:25:50,879 Speaker 1: the situation today. Uh, coming up, we're gonna hear from 473 00:25:50,920 --> 00:25:53,240 Speaker 1: Congressman John Garretmanny will get his take on it as well. 474 00:25:53,280 --> 00:25:57,399 Speaker 1: He's a Democrat from California. What's interesting, though, Rick, is 475 00:25:57,400 --> 00:25:58,960 Speaker 1: that this is a non part as an issue. You 476 00:25:59,000 --> 00:26:02,880 Speaker 1: have Speaker Pelosi set up Minority Leader Chuck Schuber there 477 00:26:02,920 --> 00:26:06,199 Speaker 1: in agreement that the the current that that that the 478 00:26:06,280 --> 00:26:11,160 Speaker 1: Venezuelan people have elected Hua Guido to be their president, 479 00:26:11,720 --> 00:26:15,080 Speaker 1: and the US President Trump as well as Democratic leadership 480 00:26:15,080 --> 00:26:18,440 Speaker 1: are offering their support to that. Yeah, it's one of 481 00:26:18,480 --> 00:26:21,680 Speaker 1: the issues where I think we're the Democrats Republicans are unified, 482 00:26:21,680 --> 00:26:25,360 Speaker 1: and I think, uh President Trump deserves credit for recognizing 483 00:26:25,359 --> 00:26:30,080 Speaker 1: Guido is the legitimate leader of Venezuela. But we're in 484 00:26:30,080 --> 00:26:33,080 Speaker 1: a dangerous situation. We watched revel I've watched many revolutions 485 00:26:33,160 --> 00:26:35,679 Speaker 1: during my lifetime, mostly in Europe, and now we have 486 00:26:35,880 --> 00:26:41,280 Speaker 1: another one in in the UH Western hemisphere, and I think, um, 487 00:26:41,400 --> 00:26:44,040 Speaker 1: look to me when when Mike Pence tweets out, you know, 488 00:26:44,040 --> 00:26:46,439 Speaker 1: we're with you, what does that mean? We're to me, 489 00:26:46,520 --> 00:26:49,160 Speaker 1: what we're with you means we're surprised, we're support We're 490 00:26:49,200 --> 00:26:53,919 Speaker 1: supporting them in some way, training weapons, air cover, something, 491 00:26:54,000 --> 00:26:56,159 Speaker 1: not just we're with you. We have to meet it 492 00:26:56,200 --> 00:26:58,119 Speaker 1: when we say we're with you, because we've got a 493 00:26:58,200 --> 00:27:02,280 Speaker 1: lot at stake in Venezuela because if that collapses. The 494 00:27:02,359 --> 00:27:05,119 Speaker 1: Chinese are interested in Venezuela because of their oil, and 495 00:27:05,160 --> 00:27:09,320 Speaker 1: the Russians are supporting Venezuela. And ironically Cuba used to 496 00:27:09,359 --> 00:27:12,959 Speaker 1: be a Venezuelan client state. Now it's imagine this, the 497 00:27:13,040 --> 00:27:16,320 Speaker 1: Venezuela is actually a Cuban clients state. That's how bad 498 00:27:16,320 --> 00:27:18,720 Speaker 1: it is. Yeah, and it's been horrifying. I mean, Venezuela 499 00:27:18,800 --> 00:27:21,080 Speaker 1: used to be one of thost prosperous countries in that 500 00:27:21,119 --> 00:27:24,479 Speaker 1: region and now eight percent of Venezuelans don't have access 501 00:27:24,560 --> 00:27:27,720 Speaker 1: to food. Right now, three million have left. Three million 502 00:27:27,800 --> 00:27:30,280 Speaker 1: Venezuelans have left since two thousand and fourteen. I want 503 00:27:30,280 --> 00:27:32,720 Speaker 1: to see more than just tweets, as Rick points out, 504 00:27:33,040 --> 00:27:37,640 Speaker 1: from Mike Pence, from John Bolton, uh, from the President 505 00:27:37,720 --> 00:27:40,359 Speaker 1: on this. I want to see some real international engagement 506 00:27:40,440 --> 00:27:43,440 Speaker 1: on this. And the President could could be very serious 507 00:27:43,520 --> 00:27:46,560 Speaker 1: and and and rally folks to it to the side 508 00:27:46,560 --> 00:27:49,280 Speaker 1: of democracy elements in that country if he showed some 509 00:27:49,320 --> 00:27:52,639 Speaker 1: presidential leadership. So so, there's been many key developments and 510 00:27:52,680 --> 00:27:54,399 Speaker 1: you can catch up on all of this because the 511 00:27:54,400 --> 00:27:59,159 Speaker 1: headlines have really been flying across the Bloomberg terminal. UH 512 00:27:59,280 --> 00:28:03,800 Speaker 1: Juan Gred posted a video calling it quote unquote, Operation Liberty. 513 00:28:04,359 --> 00:28:08,240 Speaker 1: Maduro tweeted himself that the military is still backing him 514 00:28:08,800 --> 00:28:11,520 Speaker 1: and top US official have all and both parties that 515 00:28:11,520 --> 00:28:14,360 Speaker 1: we've been reporting have weighed in with words of support 516 00:28:14,400 --> 00:28:19,800 Speaker 1: for Guido and Rick. You you brought up Cuba. President 517 00:28:19,840 --> 00:28:24,240 Speaker 1: Trump UH surveyed the events and saw Cuba as the 518 00:28:24,920 --> 00:28:29,879 Speaker 1: and antagonist that he he essentially had said that the 519 00:28:29,920 --> 00:28:33,679 Speaker 1: Caribbean island socialist government has long had a presence in Venezuela, 520 00:28:33,760 --> 00:28:37,520 Speaker 1: to your point, and has supplied the regime with personnel 521 00:28:37,600 --> 00:28:41,320 Speaker 1: ranging from doctors to intelligence officers. So many are blaming 522 00:28:41,560 --> 00:28:45,480 Speaker 1: Cuba for the humanitarian crimes inflicted on dissidence, he said 523 00:28:45,480 --> 00:28:48,520 Speaker 1: on Twitter. Quote if Cuban troops and militia do not 524 00:28:48,600 --> 00:28:52,400 Speaker 1: immediately cease military and other operations for the purpose of 525 00:28:52,440 --> 00:28:56,120 Speaker 1: causing death and destruction to the constitution of Venezuela, a 526 00:28:56,240 --> 00:29:00,440 Speaker 1: full and complete embargo, together with the highest level sanctions, 527 00:29:00,440 --> 00:29:03,600 Speaker 1: will be placed on the island of Cuba. Hopefully all 528 00:29:03,680 --> 00:29:08,360 Speaker 1: Cuban soldiers will promptly and peacefully return to their island. 529 00:29:08,920 --> 00:29:11,600 Speaker 1: End quote. So this this is a situation. I mean 530 00:29:11,640 --> 00:29:16,080 Speaker 1: the economic impacts of this UH reverberating throughout the region. 531 00:29:16,120 --> 00:29:20,080 Speaker 1: It has obviously impacts on trade relations with Cuba that 532 00:29:20,120 --> 00:29:22,800 Speaker 1: are tense, and of course the energy sector with Venezuelan 533 00:29:22,840 --> 00:29:27,160 Speaker 1: oil UH Venezuela oil sanctions in the prospect for that. 534 00:29:27,320 --> 00:29:30,760 Speaker 1: We're joined on the phone by Congressman John Gara Mendez. 535 00:29:30,800 --> 00:29:36,640 Speaker 1: He is a Democrat from California. Congressman, thanks for joining us. UH. 536 00:29:36,880 --> 00:29:42,280 Speaker 1: Your your reaction to the situation in Venezuela's night, Well, 537 00:29:42,320 --> 00:29:45,280 Speaker 1: I think, like everybody, I'm very very concerned about what's 538 00:29:45,320 --> 00:29:50,320 Speaker 1: going on there. UH. The government has to go and 539 00:29:50,360 --> 00:29:53,600 Speaker 1: hopefully it will go peacefully. The current changes that are 540 00:29:53,600 --> 00:29:58,520 Speaker 1: occurring with the here apparently some of the Venezuelan military 541 00:29:58,600 --> 00:30:01,840 Speaker 1: now change in size. That that's a good sign. Now 542 00:30:02,040 --> 00:30:03,720 Speaker 1: if the rest of them would come along, we'll get 543 00:30:03,720 --> 00:30:06,880 Speaker 1: a decent government in there. So, in terms of your 544 00:30:06,960 --> 00:30:09,600 Speaker 1: Democrat and what would you like to see the administration 545 00:30:09,680 --> 00:30:11,960 Speaker 1: do differently or how do you how do you grade 546 00:30:12,000 --> 00:30:15,160 Speaker 1: them in terms of how this administration has handled the 547 00:30:15,240 --> 00:30:25,720 Speaker 1: response to Venezuela, Well, just basically it's chaotic and not 548 00:30:26,320 --> 00:30:29,200 Speaker 1: clear in their estion and not clear about how they 549 00:30:29,640 --> 00:30:37,040 Speaker 1: move forward. Oh M. Ability is a strong and was 550 00:30:37,080 --> 00:30:43,520 Speaker 1: a very important and critical element in addressing the Venezuelans situation. 551 00:30:43,960 --> 00:30:48,440 Speaker 1: I would hope that going forward, the Trump administration does 552 00:30:48,520 --> 00:30:52,840 Speaker 1: not use the American military, and maybe some humanitarian things 553 00:30:52,840 --> 00:30:55,520 Speaker 1: that we can do perhaps with the military, but to 554 00:30:55,600 --> 00:30:59,040 Speaker 1: avoid that would be very, very important, and we ought 555 00:30:59,040 --> 00:31:02,920 Speaker 1: to allow the Latin American countries to take the lead 556 00:31:03,520 --> 00:31:07,960 Speaker 1: on any action that may be occurring in Venezuela. Congressman 557 00:31:08,000 --> 00:31:10,920 Speaker 1: John Daramendi joins us on the telephone line. He is 558 00:31:10,960 --> 00:31:15,600 Speaker 1: a Democrat from the from California. He's also a member 559 00:31:15,680 --> 00:31:19,240 Speaker 1: a committee member of the House Committee on Infrastructure Major 560 00:31:19,280 --> 00:31:22,880 Speaker 1: Developments at the White House today on the issue of infrastructure, Congressman, 561 00:31:23,080 --> 00:31:24,880 Speaker 1: I was at the White House. You know, we we 562 00:31:24,960 --> 00:31:28,880 Speaker 1: watched Speaker Pelosi as well as Sentimentarity leader Chuck Schumer 563 00:31:28,920 --> 00:31:31,000 Speaker 1: come out and say that they had a positive meeting 564 00:31:31,440 --> 00:31:33,920 Speaker 1: with President Trump on what they're hoping will be a 565 00:31:33,960 --> 00:31:39,520 Speaker 1: two trillion dollar infrastructure plan that will include broadband. How 566 00:31:39,560 --> 00:31:43,040 Speaker 1: are they going to pay for it? Well, isn't that 567 00:31:43,120 --> 00:31:47,720 Speaker 1: a good question? Thanks? And until that question is answered, 568 00:31:48,840 --> 00:31:51,360 Speaker 1: we don't have a plan, we don't have a program. 569 00:31:51,600 --> 00:31:55,880 Speaker 1: We have a program that maybe the two trillion until 570 00:31:56,400 --> 00:31:57,880 Speaker 1: we figure out how to pay for and I think 571 00:31:57,880 --> 00:32:00,440 Speaker 1: there's some very good ways to pay for it. The 572 00:32:00,640 --> 00:32:04,520 Speaker 1: tax cut that occurred uh in the December of seventeen 573 00:32:04,560 --> 00:32:08,640 Speaker 1: that the President Trump and the Republicans take such pride in, 574 00:32:09,080 --> 00:32:13,240 Speaker 1: actually really helped the richest Americans, the top one percent, 575 00:32:14,120 --> 00:32:17,520 Speaker 1: giving them even more money in their pocket. The rest 576 00:32:17,520 --> 00:32:21,080 Speaker 1: of the American public was left with with something. It 577 00:32:21,160 --> 00:32:24,200 Speaker 1: was useful, but the real break went to the top, 578 00:32:24,360 --> 00:32:27,920 Speaker 1: top one percent to top ten percent and American corporations, 579 00:32:28,560 --> 00:32:32,640 Speaker 1: some of whom don't pay taxes, like Amazon. So there 580 00:32:32,640 --> 00:32:34,520 Speaker 1: are ways that money can be raised. And I would 581 00:32:34,560 --> 00:32:37,800 Speaker 1: suggest we look at that. You know, you mentioned the 582 00:32:38,880 --> 00:32:42,560 Speaker 1: tax bill. And what's interesting is that House Minority Leader 583 00:32:42,640 --> 00:32:46,040 Speaker 1: Kevin McCarthy, a Republican from California, your state. I'm sure 584 00:32:46,080 --> 00:32:50,360 Speaker 1: you've heard of Kevin McCarthy. He responded directly to the 585 00:32:50,400 --> 00:32:55,280 Speaker 1: Democratic argument to use the tax bill to pay for infrastructure. 586 00:32:55,280 --> 00:32:57,600 Speaker 1: I want to play for you what what Kevin McCarthy. 587 00:32:57,680 --> 00:33:02,560 Speaker 1: House Minority Leader Kevin McCarthy had to say today. Earlier today, 588 00:33:02,960 --> 00:33:06,720 Speaker 1: when he was asked about the infrastructure debate. Here, here's 589 00:33:06,800 --> 00:33:10,160 Speaker 1: Leader McCarthy here is they're walking into a meaning today 590 00:33:10,640 --> 00:33:13,440 Speaker 1: saying you have to change the tax cuts to the 591 00:33:13,440 --> 00:33:16,280 Speaker 1: American public and raise taxes on the American public if 592 00:33:16,320 --> 00:33:19,280 Speaker 1: they wouldn't to go along with an infrastructure bill. I 593 00:33:19,320 --> 00:33:22,800 Speaker 1: think that's the loss. So your response, Congressman John Garret 594 00:33:22,880 --> 00:33:26,840 Speaker 1: Many to your Republican colleague from from your state, Well, 595 00:33:26,880 --> 00:33:29,960 Speaker 1: I certainly didn't say that. I said quite something quite different, 596 00:33:29,960 --> 00:33:34,040 Speaker 1: and the Democratic colleagues did. Sure, Kevin's going to spend 597 00:33:34,080 --> 00:33:37,000 Speaker 1: this to his own purposes. For the record, you're talking 598 00:33:37,040 --> 00:33:41,360 Speaker 1: about Kevin McCarthy, not Kevin Crelli. That is correct, Kevin, 599 00:33:41,400 --> 00:33:43,520 Speaker 1: I'm not do you never spend things to any purpose 600 00:33:43,520 --> 00:33:48,800 Speaker 1: other than good. Um. The reality is that the tax 601 00:33:49,200 --> 00:33:54,360 Speaker 1: break of the more than trillion and a half dollars 602 00:33:54,360 --> 00:34:01,200 Speaker 1: of tax reductions went to the top one and American corporations. Um. 603 00:34:01,240 --> 00:34:04,240 Speaker 1: Now that's where the action is. The rest of Americans. 604 00:34:04,280 --> 00:34:06,440 Speaker 1: They did get a tax and I'm not suggesting no 605 00:34:06,560 --> 00:34:11,400 Speaker 1: Democrat is suggesting that any changes take place there. It 606 00:34:11,600 --> 00:34:16,720 Speaker 1: is to reverse those tax cuts that the super wealthy 607 00:34:16,840 --> 00:34:21,040 Speaker 1: have and the American corporations that are not building jobs 608 00:34:21,040 --> 00:34:26,840 Speaker 1: in America but rather going with corporate stock buyback that 609 00:34:26,920 --> 00:34:32,840 Speaker 1: again helps the wealthy, not Joe six Pack on the street. 610 00:34:33,320 --> 00:34:35,520 Speaker 1: All right, I want to thank Congressman John Jarremandy. He's 611 00:34:35,520 --> 00:34:38,480 Speaker 1: a Democrat from California. He's a member of the House 612 00:34:38,560 --> 00:34:41,279 Speaker 1: Infrastructure Committee, a good friend of the program. And I 613 00:34:41,320 --> 00:34:44,200 Speaker 1: know you're busy, Congressman, so thank you. Thank you for 614 00:34:44,320 --> 00:34:47,800 Speaker 1: making the time to come on our program. We appreciate it. 615 00:34:47,840 --> 00:34:51,240 Speaker 1: I'm joined here in studio with Republican strategists Rick Tyler 616 00:34:51,320 --> 00:34:54,880 Speaker 1: and Democratic strategist Kevin Walling. Quickly in the in the 617 00:34:54,960 --> 00:34:56,919 Speaker 1: less than a minute that we have left, your thoughts 618 00:34:56,960 --> 00:34:59,319 Speaker 1: on what we heard from the Congressman, Rick, Well, quick 619 00:34:59,320 --> 00:35:03,920 Speaker 1: grap I'm concerned about the exclusion of military force in Venezuela. 620 00:35:03,960 --> 00:35:06,120 Speaker 1: I'll tell you why, because I know people don't go 621 00:35:06,200 --> 00:35:08,440 Speaker 1: back to endless wars, right, But this is not an 622 00:35:08,480 --> 00:35:12,560 Speaker 1: isis ideologically driven. This a weak power politics government and 623 00:35:12,680 --> 00:35:17,440 Speaker 1: the people wanted overthrow. And these these people have experienced, uh, 624 00:35:17,560 --> 00:35:21,200 Speaker 1: they have they have been experienced more toward democracy, and 625 00:35:21,280 --> 00:35:23,080 Speaker 1: I think we need to help them militarily. And if 626 00:35:23,120 --> 00:35:26,759 Speaker 1: we don't, uh, Venezuela will not be free. Rick and 627 00:35:26,760 --> 00:35:28,760 Speaker 1: Iron agreement. I don't think we take it off the table. 628 00:35:29,040 --> 00:35:32,759 Speaker 1: I think more emphasis should be placed on empowering neighbors 629 00:35:33,280 --> 00:35:35,560 Speaker 1: in that region to to take ownership, but we shouldn't 630 00:35:35,560 --> 00:35:37,000 Speaker 1: take it off the table. All right, Well, we covered 631 00:35:37,040 --> 00:35:39,400 Speaker 1: it all today. We literally covered it all at the 632 00:35:39,400 --> 00:35:44,440 Speaker 1: tweet World. Coming up, we're going to continue this conversation 633 00:35:44,480 --> 00:35:47,239 Speaker 1: on the sound on Extra podcast. You can find it 634 00:35:47,280 --> 00:35:49,759 Speaker 1: on iTunes on the sound on page, and you can 635 00:35:49,800 --> 00:35:53,000 Speaker 1: also listen to the sound on show at Bloomberg dot com, 636 00:35:53,120 --> 00:35:56,000 Speaker 1: Radio dot com, I Heart Radio, and Spotify. We thank 637 00:35:56,000 --> 00:35:59,040 Speaker 1: our partners for that. I'm Kevin Cirelli, Chief Washington correspondent 638 00:35:59,040 --> 00:36:08,440 Speaker 1: from Bloomberg Television. In radio, you're listening to Bloomberg one 639 00:36:05,360 --> 00:36:05,400 Speaker 1: h