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Speaker 1: Bloomberg Audio Studios, podcasts, radio news.

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Speaker 2: So, I think the situation in Minnesota is still on

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Speaker 2: a lot of people's minds right now. I would like

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Speaker 2: to hear, you know, what you thought of the.

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Speaker 3: Events this weekend in Minneapolis, the death.

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Speaker 2: Of Alex Pretty and then what we're hearing today about

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Speaker 2: a possible pullback by the Trump administration.

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Speaker 3: Do you feel like that has credibility?

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Speaker 4: You got me on the credibility. Look for me, you know,

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Speaker 4: just contextualize the way I process this. This you know,

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Speaker 4: future happened here first in June of last year, where

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Speaker 4: we had four thousand National Guard that were federalized, We

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Speaker 4: had seven hundred active duty Marines that were not sent

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Speaker 4: overseas to protect our interests, were sent to seize control

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Speaker 4: of the second largest city in the United States of America,

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Speaker 4: Los Angeles, to five thousand federalized troops on the streets

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Speaker 4: of an American.

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Speaker 3: City last June.

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Speaker 4: That mindset was further stretched a few months later, when,

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Speaker 4: in an effort to organize a construct to respond to

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Speaker 4: what happened in Texas with midterm redistricting, we launched our

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Speaker 4: campaign for Proposition fifty in Little Tokyo in Los Angeles,

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Speaker 4: the sacred site of where we were bussing and intererning

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Speaker 4: the Japanese well known side for anyone down in southern California.

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Speaker 3: It was at the of all places, Democracy Center. As

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Speaker 3: we were.

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Speaker 4: Walking in, people were being intimidated by a gentleman by

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Speaker 4: the name of Bovino. Greg Bovino masked men surrounding the building.

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Speaker 4: A poor guy selling strawberries across the street disappeared. Collateral

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Speaker 4: damage was found a few weeks later. Tried to intimidate

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Speaker 4: folks from assembling. We said that was a preview.

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Speaker 3: Of things to come. On election day in November. I

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Speaker 3: wake up in the morning, true social says.

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Speaker 4: The elections rig DOJ prosecutors and investigators are there. The

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Speaker 4: expectation that they were going to file a lawsuit, which

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Speaker 4: they have done as you know, was set. But they

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Speaker 4: also set the tone of the day by sending out

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Speaker 4: Bovino's team, the bore tech teams, the Border patrol tactical units,

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Speaker 4: the Dodger Stadium assembled there in order to chill free

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Speaker 4: expression and free speech for diverse communities that were already

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Speaker 4: on edge on election day.

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Speaker 3: These guys are not screwing around, So I'm getting the

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Speaker 3: said nothing about.

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Speaker 4: What's happening in Minnesota, and Minneapolis surprises me at all.

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Speaker 4: Quite the contrary. And for a second, if Tom Homan,

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Speaker 4: who was accused of a fifty thousand dollars bribe, were

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Speaker 4: charges dis appeared. Speaking of disappearing cash, FBI is the

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Speaker 4: adults in the room.

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Speaker 3: We are in more trouble than any of you think.

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Speaker 2: If Republicans don't agree to reform, ice to pull back

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Speaker 2: on the DHS budget, should Democrats close the government that's

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Speaker 2: now on the table.

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Speaker 3: I don't think it's not an option. Well, it is

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Speaker 3: an option. Not an option.

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Speaker 4: You want your republic, You want to say this democracy,

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Speaker 4: you want to enjoy the two hundred and fiftieth anniversary,

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Speaker 4: maybe make two hundred and fifty first anniversary of the

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Speaker 4: historic project of our founding fathers. It's not an option.

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Speaker 4: What do you do in Fulton County today? What did

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Speaker 4: Pambondi demand in order to move out? This is the

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Speaker 4: second demand in two days, just twenty four hours ago.

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Speaker 4: I'm old enough to remember pam Bondi said, we'll leave,

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Speaker 4: but we want your voting roles.

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Speaker 2: This is the FBI rating voting roles in Georgia around

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Speaker 2: the twenty twenty election.

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Speaker 4: Well, but I'm referring to that as it relates to

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Speaker 4: the Fulton County example today, which is all about setting

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Speaker 4: the baseline that the last election twenty twenty was rigged,

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Speaker 4: so you should have zero confidence in the outcome of

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Speaker 4: the midterm elections, which Donald Trump is going to get crushed.

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Speaker 4: I mean, what more evidence do we need. It's a

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Speaker 4: stacking of all of these things. He is not screwing around.

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Speaker 4: He tried to light democracy on fire when he lost

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Speaker 4: the election. Try to light it on fire, try to

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Speaker 4: destroy this democracy, is trying to ruin our republic, He's

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Speaker 4: trying to torture.

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Speaker 3: What more evidence do we need on a day to

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Speaker 3: day basis? All of this is.

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Speaker 4: Part of that same narrative, that same threat. It's tragic.

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Speaker 4: What's happening. A five year old, angelic young boy used

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Speaker 4: as leverage and collateral this madness. Masked men not even

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Speaker 4: identifying themselves, no warrants, terrorizing communities, people dying quite literally

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Speaker 4: now dying. We said people who will die. People are

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Speaker 4: dying in the United States of America. And what is

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Speaker 4: the threat today?

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Speaker 5: To your question, Well, do what we legally can't do

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Speaker 5: or will continue to illegally do what we've been doing

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Speaker 5: by terrorizing your community, by turning over people in local jails,

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Speaker 5: or whatever the.

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Speaker 3: Hell else we want as points of leverage.

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Speaker 4: None of this can be normalized, and none of this,

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Speaker 4: none of this can be considered credible in the context

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Speaker 4: of any of this renewed, well renewed posture of the administration.

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Speaker 2: You talked about what the National Guard did in California

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Speaker 2: last year. Do you worry that you're continued emergence as

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Speaker 2: a as a critic, as an antagonist a Trump will

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Speaker 2: bring the same pain that we're seeing in Minnesota back

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Speaker 2: to California.

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Speaker 4: Well, I mean, I guess we can roll over, kiss

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Speaker 4: the ring, put on some kneepads, do what the university's

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Speaker 4: law firms, do what ABC did, Paramount did, do, what

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Speaker 4: Meta did?

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Speaker 3: YouTube did you know, do.

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Speaker 4: What so many companies are doing. Maybe get a golden

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Speaker 4: share in the Golden State.

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Speaker 3: Me seriously, and just watch it all disappear.

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Speaker 4: I guess we can do that, or we can stand

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Speaker 4: on principle the rule of law, not the rule of

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Speaker 4: don I hope it's Donnie, and on all of you.

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Speaker 3: It's the rule of don.

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Speaker 4: There are co equal branches of government, if a supine Congress.

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Speaker 4: The only approximation of a co equal branch of government

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Speaker 4: is the markets. Thank you, the markets, I mean Bloomberg.

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Speaker 4: It's the only thing he seems to pay attention to.

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Speaker 4: He doesn't even pay attention to court orders. You saw

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Speaker 4: that the federal judge today ninety six specific attempts to

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Speaker 4: completely deny court order just since he's been involved in

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Speaker 4: this operation in Minnesota. This is code red, but it's

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Speaker 4: become so normalized it's in our bloodstream. I mean, last

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Speaker 4: night he did fifty six true socials in sixty minutes.

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Speaker 3: Fifty six the President of the United State.

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Speaker 4: It's one of them, and forgive me, it's not a

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Speaker 4: big deal, but it should alarm you. Was an AI

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Speaker 4: generated video of the governor involved with Mexican cartels that

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Speaker 4: appears to have its origins as a Russian disinformation campaign.

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Speaker 4: The President of the United States is tweeting that out

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Speaker 4: about one of his political enemies. He said that hundreds

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Speaker 4: of Walmart's stores shut down in the state of California

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Speaker 4: because of a twenty two dollar minimum wage sixteen ninety.

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Speaker 3: Walmart had to correct that today.

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Speaker 4: Said, we actually just opened a news store that happened

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Speaker 4: in the United States of America. But you see how

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Speaker 4: that travels everywhere. It may even travel to one of

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Speaker 4: your inboxes. Maybe it's a tweet, a retweet.

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Speaker 3: I didn't say it. It was said all of a sudden.

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Speaker 3: Now it's in a blog.

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Speaker 4: All of a sudden, there's Jesse Waters, all of a sudden,

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Speaker 4: there's Sean Hannity. All of a sudden, we're having a

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Speaker 4: conversation where I have to say, no, it's not true.

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Speaker 4: I'm not involved with the Mexican cartels.

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Speaker 2: One of the things that is coming to California is

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Speaker 2: an investigation in the waste, fraud and abuse. The Trump

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Speaker 2: administration clearly had some success with that in Minnesota. Governor

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Speaker 2: Tim Walls is not running for reelection, and now they've

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Speaker 2: promised that the investigation into.

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Speaker 3: California has begun.

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Speaker 2: What will they find and what is at stake?

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Speaker 4: Well, they'll find a state that's taken that issue very,

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Speaker 4: very seriously. They'll find a state that years and years

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Speaker 4: ago established the first framework, something called id ME that

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Speaker 4: has stopped one hundred and thirty five billion dollars of fraud.

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Speaker 3: Just at the EDD Department.

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Speaker 4: You'll see someone working with the Trump one point zero

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Speaker 4: administration calling out the fraud in the PUA program, which,

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Speaker 4: by the way, the OIG in the dljail at the DL,

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Speaker 4: the Department of Labor, his own Office of Inspector General

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Speaker 4: identified one hundred and sixty three billion dollars a fraud

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Speaker 4: under his administration in that program. California was able to

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Speaker 4: stop it. We've prosecuted nine hundred and twenty nine individuals,

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Speaker 4: we've called back five point nine almost six billion dollars,

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Speaker 4: and we're still winding up all across the country that

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Speaker 4: was taking shape. You may have just seen some headlines.

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Speaker 4: Thank you for those that wrote about them. The California

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Speaker 4: became the first pay by Touch with EBT. EBT cards

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Speaker 4: saw eighty three percent decline in fraud just last year.

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Speaker 4: You saw what we're doing and what the Trump administration's doing.

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Speaker 3: To your question with doctor Oz.

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Speaker 4: Might have well, you're living in Oz when he went

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Speaker 4: down tacking the Armenian community just a few days ago.

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Speaker 3: A business is down now thirty percent.

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Speaker 4: Poor guy, small businessman running a bakery because he decided

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Speaker 4: to do a little TikTok video.

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Speaker 3: Or something.

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Speaker 4: Saying they're somehow connected to the mob around hospice hospice.

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Speaker 4: We've been after that for years and years, before OZ

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Speaker 4: was even on the scene. Twenty twenty one, we did

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Speaker 4: a moratorium on new hospice program two hundred and eighty.

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Speaker 3: We shuddered. We've been after this for years and years

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Speaker 3: and years. We want an open hand, not a close fist.

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Speaker 4: We absolutely are here to be a partner to go

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Speaker 4: after waste, fraud and abuse.

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Speaker 3: I started something called ODI Office Digital Innovation.

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Speaker 4: I did not, my mistake, do it with a chainsaw.

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Speaker 4: Had I done that, you would.

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Speaker 3: Know about it.

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Speaker 4: We just began the Office Digital Innovation and we started

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Speaker 4: to begin a process of we're forming our procurement and

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Speaker 4: our strategies on technology across the board, but also on

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Speaker 4: the issues of wastepawn abuse. By the way, ODI was

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Speaker 4: partnership with the Hot and Human Service to create the

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Speaker 4: new EBD card, which again is leading the nation.

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Speaker 3: I'm humbled in this prospective.

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Speaker 4: No one's denying these issues, but let's also not deny

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Speaker 4: this is purely political. You all know this because I

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Speaker 4: know you know it, because this is an incredibly bright group.

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Speaker 4: You know about the forty eight people just a few

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Speaker 4: months ago that we're convicted of fourteen point six billion

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Speaker 4: dollars in healthcare fraud in Texas.

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Speaker 3: Right, you all know that.

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Speaker 4: You must And if you don't, it's because it wasn't

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Speaker 4: colored in by the Trump administration.

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Speaker 3: Because this is not about fraud and abuse.

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Speaker 4: This is about the polarization, politicalization, weaponization not just a grievance,

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Speaker 4: but weaponization across the board of agencies, and weaponization the

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Speaker 4: likes of which we've never seen from an administration in

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Speaker 4: our life.

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Speaker 2: Well, let's try to take a step out of the

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Speaker 2: polarization for a moment and talk about your record as

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Speaker 2: governor over the last eleven years.

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Speaker 3: And I know there's lots to be proud of. Full

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Speaker 3: term governor. Yeah, it's also eleven years. It feels like eleven,

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Speaker 3: but it's been just seven. But I appreciate that now.

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Speaker 2: But it's also, you know, undeniable that we have high

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Speaker 2: housing costs some of the highest in the nation, high

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Speaker 2: energy costs, among the or perhaps the highest unemployment rate

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Speaker 2: in the country. So make the case for us that

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Speaker 2: Californians are better off than they were when you took off.

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Speaker 3: Well, I don't know. We have the fourth largest economy

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Speaker 3: in the world, not the sixth.

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Speaker 4: We have more fortune, five hundred companies, and we did

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Speaker 4: since twenty nineteen. By the way, Bloomberg data forty nine.

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Speaker 4: Now it's fifty eight. We dominate four and five point

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Speaker 4: six billion dollar output, thirteen point nine percent of the

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Speaker 4: nation's manufacturing. No one comes close sixty two point one

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Speaker 4: billion dollars. Just as it relates to agriculture. On the

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Speaker 4: issue of housing, there's no state and even some of

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Speaker 4: our most progressive critics like has reclined of knowledge. California

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Speaker 4: is housing policies to finally break through the original sin

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Speaker 4: that goes back decades and decades around the supply a

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Speaker 4: demand housing and ballots in the state. We're finally making

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Speaker 4: progress in that space, holding cities in counties accountable through

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Speaker 4: a housing Accountability unit. We're moving mountains in that space.

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Speaker 4: As it relates to broader issues of this state, we

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Speaker 4: dominate in fusion robotics. You saw just what Elon just.

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Speaker 3: Said he's going to do to convert his factory with

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Speaker 3: S and X.

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Speaker 4: It's now going to be the new robotics, infusion and

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Speaker 4: nuclear advanced nuclear. Obviously in quantum you all know about AI.

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Speaker 3: There's no peers.

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Speaker 4: You saw last year venture capital highest it's ever been

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Speaker 4: one hundred and six billion dollars sixty eight billion last year,

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Speaker 4: one hundred and six this year. Interesting, close to seventy

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Speaker 4: percent of those dollars invested back in to the state

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Speaker 4: of California UCLA. Every year they put out a report

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Speaker 4: going back since Ronald Reagan, noting that the unique nature

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Speaker 4: of our economy, across a spectrum of reasons and issues,

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Speaker 4: we tend to have a point nine to one point

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Speaker 4: two percent higher unemployment rate consistently going back to when

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Speaker 4: Reagan was governor of California than the rest of the

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Speaker 4: nation today it's one point one percent higher.

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Speaker 3: You are correct about that. It's a stubborn reality, and

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Speaker 3: we can get into that.

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Speaker 4: And the reason I point out those reports is they

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Speaker 4: tend to do it in a remarkable and sophisticated way

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Speaker 4: that goes to the struggle of all of us to

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Speaker 4: reconcile that but difference. Now, we have our first economic

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Speaker 4: and workforce development plan in our state's history, around regions

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Speaker 4: rising together. It's thirteen economic and workforce development plans, something

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Speaker 4: I'm very proud of.

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Speaker 3: We spent three years working on. In fact, we'll be announcing.

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Speaker 4: The latest plan DT's here as part of this in

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Speaker 4: Orange County next week, and we continue to try to

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Speaker 4: reconcile the realities in our diverse.

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Speaker 3: Communities, rural not just urban.

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Speaker 4: Communities, the live reality of people that don't live in

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Speaker 4: the aggregate.

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Speaker 2: You know, the most important word in politics right now

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Speaker 2: is affordability. Is it still too expensive for average Californians

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Speaker 2: to make ends meet?

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Speaker 4: Well, that's why we created a brand new grade preschool

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Speaker 4: for all saving people eighteen thousand dollars. That's why we

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Speaker 4: did the biggest expansion of any state in the United

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Speaker 4: States history on childcare subsidies.

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Speaker 3: That's why we created a new product.

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Speaker 4: Not Trump Our X should have called a new simar X. Again,

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Speaker 4: you would have paid attention. It's called Alrx eleven dollars insulin.

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Speaker 4: Not to subsidize cost, to lower cost. That's why we're

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Speaker 4: coming out with our own diapers, which is exciting. I'm

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Speaker 4: exciting to make an announcement in that space. It's why

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Speaker 4: we've not doubled, we've almost tripled the earn income tax

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Speaker 4: credits over one billion dollars allow working families to keep

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Speaker 4: more of their earning. It's why we had the largest

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Speaker 4: tax rebate in US history.

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Speaker 3: At a state level.

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Speaker 4: Eighteen point one billion, almost eighteen point three depending.

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Speaker 3: On how you categorize it.

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Speaker 4: But eighteen billion dollar tax rebate to address those costs.

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Speaker 4: It's why we have the most progressive rent controls of

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Speaker 4: any state in America. That's why we're going hard on

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Speaker 4: the supply demand in Ballance as it relates to housing.

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Speaker 4: That's why we're starting to address these issues of time

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Speaker 4: to delivery some of the most progressive reforms on permitting

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Speaker 4: in our state's history for large scale projects. Deliver on

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Speaker 4: these large scale projects. We didn't wait for the Abundance

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Speaker 4: Book to come out on that. We advanced some of

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Speaker 4: those projects years and years ago. Let me give you

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Speaker 4: a proof point because it goes to the energy question.

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Speaker 4: Since nineteen I'm in San Francisco. Since eighteen seventy four,

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Speaker 4: we've installed about one hundred and five gigawatts of electricity

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Speaker 4: in the state, thirty point two since I've been governor.

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Speaker 4: And why do I highlight that? Because it needs to

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Speaker 4: be highlighted. One of the largest installed battery and solar

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Speaker 4: farms in the world, Darted in Fresno County, was just

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Speaker 4: approved twenty three hundred megawatts under the new procurement reforms

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Speaker 4: under these new regulatory reforms. I'm making the point that

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Speaker 4: we haven't been sitting back on some of these structural issues.

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Speaker 4: I inherited the most blessed and cursed state in America.

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Speaker 4: The day I got into office, the largest utility in

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Speaker 4: the United States was bankrupt PGE. That's how I started.

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Speaker 4: We had to dig out of that. And when you

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Speaker 4: dig out of that, yes, that's been the biggest driver,

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Speaker 4: interestingly of utility costs when you look at the bill,

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Speaker 4: where the costs related to decades and decades and decades

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Speaker 4: of neglect to address the underlying issues around the hot's

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Speaker 4: getting higher, dry is getting drier, climate, but also forest

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Speaker 4: in vesitation, management and undergrounding, all of those.

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Speaker 3: Things that we've ten xt.

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Speaker 4: We haven't played in the margin five point three billion

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Speaker 4: dollars in forest management.

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Speaker 3: What I got it was about two hundred million a year.

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Speaker 4: Unprecedented investments in this space, Unprecedented responsibility, accountability at PGE.

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Speaker 4: We tie executive compensation to performance on safety. We also

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Speaker 4: just passed under Cap and invest program, which we extended

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Speaker 4: to twenty forty five. Because we're not walking away from

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Speaker 4: low carbon green grol A sixty billion. Let me be fair,

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Speaker 4: fifty six billion dollar rebate to address costs for utilities

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Speaker 4: after eleven years. This is the eleven as Lieutenant governor Governor,

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Speaker 4: we finally got a deal with other Western states to

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Speaker 4: regionalize our grid. This is one of the big news

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Speaker 4: stories that's gotten some.

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Speaker 3: Trade attention, but will have the impact.

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Speaker 4: Of allowing us to export more of our green and

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Speaker 4: clean energy, provide more reliability at a lower cost. We

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Speaker 4: estimate a billion dollars a year of savings through that

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Speaker 4: for electricity, and we also just advance our nation leading

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Speaker 4: energy efficiency programs under Title twenty four four point eight

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Speaker 4: billion dollars projective savings.

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Speaker 3: So we're not sitting on that issue as well.

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Speaker 2: Too quick follow ups because I want to move on.

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Speaker 2: You mentioned PG and E should the PG and E

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Speaker 2: monopoly in California to be broken up.

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Speaker 4: Well, PG and is a very different company than it

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Speaker 4: was prior to bankruptcy. I'm more satisfied Under ten fifty four.

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Speaker 4: That was the framework in the rubric to which we

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Speaker 4: created a statutory requirement as exampled in my comments a

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Speaker 4: moment ago, around executive compensation being tied to safety. We

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Speaker 4: also have the clawback in that which will remind people

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Speaker 4: of receivership where the state can actually assert control statutorially

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Speaker 4: in that law that I passed, and we organized to

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Speaker 4: take back control if they're not performed.

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Speaker 2: So you're saying no, because the accountability does exist.

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Speaker 4: Accountability is a persistent issue and continues to need to.

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Speaker 3: Be improved.

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Speaker 4: But I'm not convinced, And forgive me, I'm not that

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Speaker 4: a state that finally is turned and is turning DMB

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Speaker 4: around wants to get in the utility business.

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Speaker 2: And you also mentioned permitting reform this morning. I think

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Speaker 2: the President issued in executive order is he believes that

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Speaker 2: the state is not moving fast enough on permitting to

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Speaker 2: recover from the LA fires.

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Speaker 4: Helpful, will give me one thing the state hasn't done

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Speaker 4: to address an expertite permitting. There's nothing state doesn't do

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Speaker 4: local permitting. I mean, this is the same president of

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Speaker 4: United States, a president of the United States that said

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Speaker 4: he waived all federal permitting.

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Speaker 3: He said, which federal permit for local constructors?

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Speaker 2: When I came down here, he was talking about this

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Speaker 2: in his cabinet me.

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Speaker 3: It's madness. I mean, it's actual madness.

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Speaker 4: And it's what's more madden it is there's no accountability

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Speaker 4: it's not called out. I mean, it's just so preposterous,

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Speaker 4: so ludicrous, it's hard for me to even respond. But

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Speaker 4: he's responding to his tonality of frustration because there's been

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Speaker 4: two nine hundred and eighty one permits that have been.

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Speaker 3: Approved so far as of this week.

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Speaker 4: That's how I start a start every week with updated

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Speaker 4: permits and by the way, stress tests that two nine

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Speaker 4: eighty one. By the way, it's three hundred and eighty

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Speaker 4: five a year later in Maui, or rather, forgive me

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Speaker 4: in Paradise, which had sixteen thousand units roughly equivalent about

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Speaker 4: fourteen thousand in Los Angeles, three hundred and eighty five

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Speaker 4: a year later approved in Paradise two thousand, nine eighty one,

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Speaker 4: over a thousand units under construction as we speak in LA.

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Speaker 3: It's been just over a year. No one's happy, no

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Speaker 3: one's satisfied. But it's unprecedented, just as.

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Speaker 4: Was the cleanup done in six months, unprecedent dozeness houses

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Speaker 4: that are already occupied, which is remarkable. Again, not good enough,

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Speaker 4: so tonally, he expressed that frustration sign an executive order

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Speaker 4: that has in the vernacular of San Francisco and San

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Speaker 4: Franciscan's the form and substance of fog. There's no there there.

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Speaker 4: It literally is meaningless. He actually the only thing meaningful

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Speaker 4: is he calls for an audit of his own federal agency,

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Speaker 4: which I think was a good idea.

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Speaker 3: And the also meaningful thing.

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Speaker 4: Is that he refuses to meaningfully address the issue for recovery,

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Speaker 4: and that is the gaps between your insurance, the cost

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Speaker 4: of construction, which has gone up because of his tariffs

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Speaker 4: and his mass deportations and the impacts of those things.

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Speaker 4: By providing to Congress a letter, simple letter, for a

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Speaker 4: supplemental appropriation of thirty three point nine billion dollars, which

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Speaker 4: is what the state is asking on behalf of the

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Speaker 4: American people that happen to reside in southern California. Interestingly,

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Speaker 4: on that, to their credit, Republican leaders in Congress, not

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Speaker 4: just Democratic leaders, including yesterday our calling on the President

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Speaker 4: to send that disaster supplemental on behalf of American people.

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Speaker 4: And I could not be more proud of those leaders.

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Speaker 4: In fact, one of them tragically passed away, and I

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Speaker 4: was at his memorial a few days ago. Doug LaMalfa

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Speaker 4: man of principle of character extraordinary American, also supported my

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Speaker 4: recall Doug, but he's a good man.

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Speaker 3: Was remarkable. Wife Jill Speaker Johnson was there.

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Speaker 4: Fortunately he's walk right by me. I can have a

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Speaker 4: chance to engage with him. He gave beautiful remarks, he

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Speaker 4: really did about Doug, and he talked in principled terms,

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Speaker 4: just not reflected in the work he does when he's

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Speaker 4: in Washington, d C.

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Speaker 2: Sadly, so, Governor, I want to talk about Davos first

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Speaker 2: and then the Wealth tax in the next ten minutes

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Speaker 2: before we open them up to questions. I believe the

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Speaker 2: Secretary of Treasury said you were frolicking and Davos reason.

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Speaker 2: But Canadian Prime minute he was as well. Canadian Prime

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Speaker 2: Minister Market.

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Speaker 3: I don't know as well, but I appreciate that. Yet,

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Speaker 3: Mark Carney gave a powerful speech.

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Speaker 2: A lot of people watched it, saying that the rules

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Speaker 2: based global order is over, and I wonder if you

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Speaker 2: agree with that and how the next president might repair

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Speaker 2: some of these relationships.

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Speaker 3: I chance to meet with Carney interesting right before the

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Speaker 3: speech and forgive me.

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Speaker 4: I I hope you guys have taken a look, maybe

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Speaker 4: you've reported about it. Just a few days ago, the

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Speaker 4: Foreign Minister of India gave a speech that was very

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Speaker 4: similar to Carney's.

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Speaker 3: India just made a deal with the EU on teriffs.

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Speaker 4: Twenty years they've been talking about it, they weren't even

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Speaker 4: talking to each other, and now with the friction that

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Speaker 4: Trump has created, they've now brought the mother, as the

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Speaker 4: EU president said, the mother of all trade deals together,

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Speaker 4: and they did it in real time, building on what

441
00:24:01,600 --> 00:24:04,440
Speaker 4: they did in South America with the EU. I mean,

442
00:24:04,960 --> 00:24:09,320
Speaker 4: this wrecking ball presidency is jaw dropping in real time.

443
00:24:09,520 --> 00:24:11,879
Speaker 4: So it goes to your question about what Carney said

444
00:24:12,240 --> 00:24:13,200
Speaker 4: about that rupture.

445
00:24:13,920 --> 00:24:15,800
Speaker 3: It's real truth. Trust.

446
00:24:16,600 --> 00:24:19,360
Speaker 4: I talked to dozens and dozens of European leaders, presidents

447
00:24:19,560 --> 00:24:23,000
Speaker 4: countries across the globe, had the opportunity to run in

448
00:24:23,000 --> 00:24:23,920
Speaker 4: to people.

449
00:24:24,040 --> 00:24:28,000
Speaker 3: From countries I have read about. I confess I can't

450
00:24:28,040 --> 00:24:34,000
Speaker 3: even pronounce some of them. Universal condemnation. They said, sometimes you.

451
00:24:33,960 --> 00:24:41,320
Speaker 4: Were unpredictable, but never this unreliable. It's a wrecking ball presidents.

452
00:24:41,440 --> 00:24:44,560
Speaker 2: Should the next president offer an apology to our allies?

453
00:24:44,640 --> 00:24:45,120
Speaker 3: How you look?

454
00:24:45,160 --> 00:24:48,320
Speaker 4: I mean, the apology is loaded term in American politics.

455
00:24:48,920 --> 00:24:52,840
Speaker 4: Bama's on an apology tour, so I appreciate the frame,

456
00:24:53,680 --> 00:24:57,960
Speaker 4: but show respect. These are allies you also show respect

457
00:24:58,400 --> 00:25:00,200
Speaker 4: for the fact that we're the envy of the world.

458
00:25:00,240 --> 00:25:02,320
Speaker 4: I mean, your headline's not mine. I mean just a

459
00:25:02,400 --> 00:25:04,480
Speaker 4: year ago, our economy is the enemy of the world.

460
00:25:04,520 --> 00:25:07,399
Speaker 4: We continue from a global perspective and share of GDP

461
00:25:07,880 --> 00:25:11,479
Speaker 4: continue to outperform decades and decades because of these translantic alliance.

462
00:25:11,520 --> 00:25:15,480
Speaker 4: It's because of our trade and security relationships, particularly with

463
00:25:15,520 --> 00:25:16,640
Speaker 4: our European allies.

464
00:25:16,840 --> 00:25:18,639
Speaker 3: We're destroying all that in real time.

465
00:25:18,880 --> 00:25:20,840
Speaker 4: I think it was Sam Rayburn who said, you know,

466
00:25:20,920 --> 00:25:24,440
Speaker 4: any fool or idiot can break down a barn door,

467
00:25:24,480 --> 00:25:26,520
Speaker 4: but it takes a great carpenter to build one.

468
00:25:27,240 --> 00:25:31,159
Speaker 3: Destruction is not strength, it's weakness. Weakness masquerading is strength.

469
00:25:31,200 --> 00:25:31,600
Speaker 3: That's all.

470
00:25:31,760 --> 00:25:36,360
Speaker 4: Trump is weakness masquerading as strength. And so it will

471
00:25:36,359 --> 00:25:39,000
Speaker 4: take the strength of character. It will take leadership to

472
00:25:39,040 --> 00:25:41,040
Speaker 4: be repairs of that breach, and it will take some

473
00:25:41,119 --> 00:25:44,040
Speaker 4: time to restore trust. But I'm a little more confident

474
00:25:44,080 --> 00:25:48,479
Speaker 4: we can based upon just my observations, but also the

475
00:25:48,520 --> 00:25:54,760
Speaker 4: interactions I was with leaders from Spain just yesterday. I

476
00:25:54,840 --> 00:25:58,040
Speaker 4: continue to have the privilege representing the fourth largest economy

477
00:25:58,040 --> 00:26:01,000
Speaker 4: of the world to engage with MoU from people around

478
00:26:01,000 --> 00:26:03,920
Speaker 4: the world. Again, open hand, not a close fist sub

479
00:26:04,040 --> 00:26:10,119
Speaker 4: national relationship, stable, strong partner California, unstable, unpredictable the federal government.

480
00:26:10,480 --> 00:26:13,680
Speaker 3: But he'll Trump be known in years.

481
00:26:14,200 --> 00:26:17,160
Speaker 4: He's got a few years left, even if his state

482
00:26:17,200 --> 00:26:20,119
Speaker 4: of mind is to extend his term and have competitive

483
00:26:20,119 --> 00:26:26,480
Speaker 4: authoritarian election like putin his Time of life suggests this

484
00:26:26,600 --> 00:26:29,840
Speaker 4: term will be up in three and that gives us

485
00:26:29,840 --> 00:26:32,720
Speaker 4: an opportunity to turn the proverbial page.

486
00:26:32,760 --> 00:26:34,679
Speaker 2: And by the way, one report from Davos that did

487
00:26:34,760 --> 00:26:37,480
Speaker 2: surprise me was the suggestion that you had a very

488
00:26:37,600 --> 00:26:43,640
Speaker 2: kind of amiable interchange with the president and his staff

489
00:26:43,920 --> 00:26:44,800
Speaker 2: behind the scenes.

490
00:26:44,800 --> 00:26:46,080
Speaker 3: And he said, Gavin, you're good.

491
00:26:46,359 --> 00:26:48,280
Speaker 2: And so how do we tellents your version of that,

492
00:26:48,400 --> 00:26:51,280
Speaker 2: and how do we reconcile little public animosity and maybe

493
00:26:51,280 --> 00:26:52,639
Speaker 2: the private fact slab.

494
00:26:52,760 --> 00:26:53,480
Speaker 3: My wife is here.

495
00:26:53,520 --> 00:26:56,520
Speaker 4: We had a close to twenty minute conversation with Trump

496
00:26:56,600 --> 00:26:58,439
Speaker 4: the night before he federalized.

497
00:26:57,920 --> 00:27:00,920
Speaker 3: The guard Or He just literally lied and said he

498
00:27:00,960 --> 00:27:02,920
Speaker 3: read me the Riot Act. And Jim said, my god,

499
00:27:02,960 --> 00:27:04,320
Speaker 3: that went well. Must have.

500
00:27:04,760 --> 00:27:06,800
Speaker 4: I said, I know, I was like s laughing. I

501
00:27:06,800 --> 00:27:08,360
Speaker 4: was smiling the whole time. He kept trying to bring

502
00:27:08,440 --> 00:27:11,239
Speaker 4: up LA and no interest in LA. Wanted to talk

503
00:27:11,280 --> 00:27:13,639
Speaker 4: about how many hats he had sold. He goes, what

504
00:27:13,760 --> 00:27:16,000
Speaker 4: do you think of new scum? He says, this is

505
00:27:16,040 --> 00:27:18,480
Speaker 4: right the night before he federalized National Guard. I said, hey, yeah,

506
00:27:18,640 --> 00:27:20,080
Speaker 4: what do you think of new scum. It's pretty good,

507
00:27:20,119 --> 00:27:23,160
Speaker 4: isn't it, I say, He goes, and I paused. He said,

508
00:27:23,160 --> 00:27:26,639
Speaker 4: it's original new scum. I said, well, it's not really original.

509
00:27:26,680 --> 00:27:28,800
Speaker 4: There was literally a guy in seventh grade on Baltimore

510
00:27:28,800 --> 00:27:29,720
Speaker 4: Street used to call me that.

511
00:27:30,280 --> 00:27:31,800
Speaker 3: And he goes, well, I have, but how about Maga.

512
00:27:31,840 --> 00:27:34,400
Speaker 4: I said, well, that's pretty good, but that's not original either,

513
00:27:34,920 --> 00:27:37,159
Speaker 4: and he got a little sick as I mentioned Ronald

514
00:27:37,160 --> 00:27:40,200
Speaker 4: Reagan and I mentioned may even meg women make California

515
00:27:40,240 --> 00:27:42,320
Speaker 4: great again, and he goes, no, matter how many hats

516
00:27:42,400 --> 00:27:44,080
Speaker 4: you think I sold, I said, I don't know, he

517
00:27:44,080 --> 00:27:45,000
Speaker 4: goes hundreds of that.

518
00:27:45,000 --> 00:27:46,680
Speaker 3: That's amazing, sir, it's amazing.

519
00:27:47,400 --> 00:27:51,240
Speaker 4: And so it's not amazing to me that we had

520
00:27:51,280 --> 00:27:56,679
Speaker 4: that interaction. It should amaze all of you that the

521
00:27:56,680 --> 00:28:02,200
Speaker 4: President of the United States, you know, operates as he does.

522
00:28:03,920 --> 00:28:06,840
Speaker 4: And I continue, I said it this morning.

523
00:28:06,600 --> 00:28:07,160
Speaker 3: On my team.

524
00:28:07,200 --> 00:28:09,679
Speaker 4: I mean, they mentioned we have our morning meetings, our

525
00:28:09,720 --> 00:28:12,639
Speaker 4: staff meetings, and you know, there were three or four things?

526
00:28:12,800 --> 00:28:15,160
Speaker 4: Is he that you brought up today? I said, why'd

527
00:28:15,200 --> 00:28:17,000
Speaker 4: you bury the lead? And it's just because it's just

528
00:28:17,080 --> 00:28:19,200
Speaker 4: it's shock and awe.

529
00:28:19,640 --> 00:28:21,400
Speaker 3: Every single day.

530
00:28:22,320 --> 00:28:28,120
Speaker 4: Nothing can be normalized, but our relationship, strangely is normal personally.

531
00:28:28,520 --> 00:28:30,320
Speaker 2: Okay, let me ask about the wealth tax and then

532
00:28:30,359 --> 00:28:32,760
Speaker 2: we'll open this up. So folks in this room probably

533
00:28:32,840 --> 00:28:37,200
Speaker 2: know the California health Care Union has proposed a wealth

534
00:28:37,240 --> 00:28:40,640
Speaker 2: tax on the two hundred billionaires in the state five

535
00:28:40,680 --> 00:28:43,920
Speaker 2: percent of their net worth over five years. You've come

536
00:28:43,960 --> 00:28:46,640
Speaker 2: out against it. But what they're trying to address, what

537
00:28:46,640 --> 00:28:48,640
Speaker 2: they say they're trying to address, is a shortfall in

538
00:28:48,720 --> 00:28:52,120
Speaker 2: medical caused by HR one, the One Big Beautiful Act.

539
00:28:52,360 --> 00:28:54,440
Speaker 3: Do you agree that.

540
00:28:54,400 --> 00:28:58,240
Speaker 2: Medical that the state healthcare system isn't endangered by this

541
00:28:58,280 --> 00:29:00,360
Speaker 2: federal law? And what should we do about it if

542
00:29:00,480 --> 00:29:01,200
Speaker 2: not a wealth tax?

543
00:29:01,280 --> 00:29:03,200
Speaker 3: Yeah? HR one is a disaster.

544
00:29:04,120 --> 00:29:06,600
Speaker 4: I mean, just talk about your kids and grandkids who

545
00:29:06,600 --> 00:29:07,280
Speaker 4: sat on them.

546
00:29:07,280 --> 00:29:13,440
Speaker 3: Debt burden, interest rates, instability. I mean, it's the same

547
00:29:13,520 --> 00:29:15,640
Speaker 3: Vesson guy. I would say, well, the devastits down.

548
00:29:15,960 --> 00:29:19,160
Speaker 4: He didn't even mention the costs of the Big Beautiful

549
00:29:19,160 --> 00:29:19,920
Speaker 4: Bill and how.

550
00:29:19,840 --> 00:29:21,640
Speaker 2: That's going to impact the debt and so what do

551
00:29:21,680 --> 00:29:24,240
Speaker 2: we if not asking the richest among us to pay?

552
00:29:24,400 --> 00:29:25,320
Speaker 3: What do we do well?

553
00:29:25,320 --> 00:29:27,920
Speaker 4: We do California is the most progressive tax structure in

554
00:29:27,920 --> 00:29:28,920
Speaker 4: the United States of America.

555
00:29:29,000 --> 00:29:31,240
Speaker 2: There are billionaires who are sitting on equity who don't

556
00:29:31,240 --> 00:29:31,520
Speaker 2: sell it.

557
00:29:31,560 --> 00:29:34,040
Speaker 4: We have a billionaire lower cancer that are paying those

558
00:29:34,080 --> 00:29:37,800
Speaker 4: progressive taxes. We have the highest progressive tax rate in

559
00:29:37,880 --> 00:29:39,280
Speaker 4: the United States of America.

560
00:29:39,280 --> 00:29:40,240
Speaker 3: I long believe in that.

561
00:29:40,280 --> 00:29:43,479
Speaker 4: I did sit a state of the state arguing in

562
00:29:43,520 --> 00:29:46,000
Speaker 4: favor of it, and it should many ways be a

563
00:29:46,080 --> 00:29:49,840
Speaker 4: model for reforms that we need to see federally.

564
00:29:49,920 --> 00:29:53,480
Speaker 3: That said, I fear the way this has been drafted,

565
00:29:53,560 --> 00:29:54,760
Speaker 3: and I'm old fashioned.

566
00:29:55,120 --> 00:30:00,200
Speaker 4: I actually seek first to understand before I'm understood sometimes.

567
00:30:01,200 --> 00:30:04,560
Speaker 3: And I was burdened by the facts.

568
00:30:04,920 --> 00:30:10,000
Speaker 4: The fact is it actually will reduce investments in education.

569
00:30:10,480 --> 00:30:14,640
Speaker 3: It will reduce investments and teachers and librarians, childcare.

570
00:30:14,920 --> 00:30:21,560
Speaker 4: It will reduce investments in firefighting and police. The impact

571
00:30:21,640 --> 00:30:24,680
Speaker 4: of a one time tax does not solve an ongoing

572
00:30:24,720 --> 00:30:30,440
Speaker 4: structural challenge that has been exacerbated by the impacts of

573
00:30:30,600 --> 00:30:35,040
Speaker 4: HR one. In fact, what it will do is what

574
00:30:35,080 --> 00:30:38,360
Speaker 4: the Legislative Analysts Office said it would do, which didn't

575
00:30:38,360 --> 00:30:40,800
Speaker 4: surprise any of us when they put that out. You

576
00:30:40,800 --> 00:30:45,360
Speaker 4: would have a windfall one time, and then over the

577
00:30:45,480 --> 00:30:50,680
Speaker 4: years you would see a significant reduction in taxes because

578
00:30:50,800 --> 00:30:52,240
Speaker 4: tax payers will move.

579
00:30:53,160 --> 00:30:54,200
Speaker 3: And that is what.

580
00:30:54,080 --> 00:30:56,560
Speaker 4: I fear at a state level. At a state level,

581
00:30:56,720 --> 00:30:57,560
Speaker 4: So what do you supported this?

582
00:30:58,520 --> 00:30:59,200
Speaker 3: I think you can have.

583
00:30:59,240 --> 00:31:02,040
Speaker 4: That's an interesting conversation. It's a challenging one too. There's

584
00:31:02,080 --> 00:31:05,520
Speaker 4: some constitutional issues around takings. There's impact as it relates

585
00:31:05,520 --> 00:31:07,880
Speaker 4: to the flow of capital, the impacts on the market,

586
00:31:07,920 --> 00:31:10,560
Speaker 4: which are not inconsequential. If you told me you're gonna

587
00:31:10,600 --> 00:31:12,320
Speaker 4: have a one time where do you mark to market?

588
00:31:12,760 --> 00:31:14,720
Speaker 4: How do you audit? Do we go in and find

589
00:31:14,760 --> 00:31:17,160
Speaker 4: out for those that are in this tac packet? When

590
00:31:17,160 --> 00:31:18,000
Speaker 4: did you buy your boss?

591
00:31:18,120 --> 00:31:18,320
Speaker 3: Yet?

592
00:31:18,760 --> 00:31:20,760
Speaker 4: You sure it was nineteen seventy one? Or was nineteen

593
00:31:20,840 --> 00:31:25,320
Speaker 4: ninety one? Markets have adjusted? Where's the wine collection?

594
00:31:25,440 --> 00:31:25,600
Speaker 3: Sir?

595
00:31:26,680 --> 00:31:28,680
Speaker 4: Let me look again? Hold it marked to market? Way

596
00:31:28,720 --> 00:31:30,680
Speaker 4: to say, so, you haven't sold your stuff? But all

597
00:31:30,720 --> 00:31:33,600
Speaker 4: these things it gets complicated. I'm not suggesting. I'm not

598
00:31:33,720 --> 00:31:36,560
Speaker 4: here to belittle it argue. I think the imbalance I

599
00:31:36,560 --> 00:31:38,600
Speaker 4: said at the state of the state, the imbalance between

600
00:31:38,600 --> 00:31:40,120
Speaker 4: the rich and the poor is the oldest and most

601
00:31:40,120 --> 00:31:44,240
Speaker 4: fatal ailment of all republics. That was Plutarch two thousand

602
00:31:44,320 --> 00:31:46,480
Speaker 4: years ago. Ten percent of people on two thirds of

603
00:31:46,560 --> 00:31:47,840
Speaker 4: wealth in the United States of America.

604
00:31:48,160 --> 00:31:49,520
Speaker 3: This is not working.

605
00:31:50,440 --> 00:31:54,240
Speaker 4: Thirty year old, never done worse thirty year old today

606
00:31:55,200 --> 00:31:56,680
Speaker 4: than any generation of history.

607
00:31:56,720 --> 00:31:57,760
Speaker 3: This is not working.

608
00:31:57,760 --> 00:32:02,480
Speaker 4: You've got to democratize our economy. You're going to save democracy. Absolutely,

609
00:32:02,760 --> 00:32:08,320
Speaker 4: But this proposal by one local in s c I U.

610
00:32:08,840 --> 00:32:10,840
Speaker 3: I do not believe. Well, I get to the ballot.

611
00:32:12,200 --> 00:32:17,120
Speaker 3: They have the money, I don't you know, and we'll see. Yeah,

612
00:32:18,280 --> 00:32:19,840
Speaker 3: this is uh, there's.

613
00:32:19,800 --> 00:32:21,600
Speaker 4: A lot of leverage in this. I think he's got

614
00:32:21,600 --> 00:32:23,960
Speaker 4: three ballot initiatives. This is by the way, someone said

615
00:32:24,000 --> 00:32:25,040
Speaker 4: to me, you need to veto this.

616
00:32:25,160 --> 00:32:28,000
Speaker 3: I said, well, I can't because it's not legislators. And

617
00:32:28,000 --> 00:32:29,000
Speaker 3: by the way, legislature is.

618
00:32:28,960 --> 00:32:32,160
Speaker 4: Not promoting this. This is an individual with money and

619
00:32:32,280 --> 00:32:33,200
Speaker 4: I had someone.

620
00:32:32,920 --> 00:32:35,880
Speaker 3: You'll appreciate this true story. He was a zoom with

621
00:32:36,000 --> 00:32:37,240
Speaker 3: munch of fancy folks.

622
00:32:36,920 --> 00:32:40,920
Speaker 4: And he outraged, we've got to reform this direct democracy.

623
00:32:42,040 --> 00:32:43,920
Speaker 4: Anyone can get some of the ballot. I said, just

624
00:32:43,960 --> 00:32:45,480
Speaker 4: like you got the recall in the ballot.

625
00:32:48,040 --> 00:32:50,240
Speaker 3: Yeah. He dropped off the.

626
00:32:50,160 --> 00:32:51,920
Speaker 2: Scring And by the way, you go a long way

627
00:32:51,920 --> 00:32:53,880
Speaker 2: back with a lot of these fancy folks, like how

628
00:32:53,880 --> 00:32:57,320
Speaker 2: do you talk to them about leaving the state, And

629
00:32:57,440 --> 00:33:00,320
Speaker 2: do they reckon with the inequality and the tax code

630
00:33:00,320 --> 00:33:02,200
Speaker 2: and the need for them at some level.

631
00:33:01,960 --> 00:33:02,640
Speaker 3: To pay more. Yeah.

632
00:33:02,680 --> 00:33:06,440
Speaker 4: Look, I mean there's some extraordinarily enlightened people in that category,

633
00:33:06,440 --> 00:33:09,600
Speaker 4: and there's some that they put a mask.

634
00:33:09,440 --> 00:33:10,600
Speaker 3: On and their faces growing into it.

635
00:33:10,640 --> 00:33:12,400
Speaker 2: And by the way, let me just be more specific,

636
00:33:12,400 --> 00:33:15,440
Speaker 2: what do you tell Sergey when he says I'm moving

637
00:33:15,480 --> 00:33:16,920
Speaker 2: to Incline or to Reno.

638
00:33:18,440 --> 00:33:19,760
Speaker 3: Are you disappointed by Yeah?

639
00:33:19,800 --> 00:33:22,600
Speaker 4: Of course, I mean, but obviously I think they're disappointing

640
00:33:22,600 --> 00:33:24,960
Speaker 4: in some respect as well. I mean, there's just a

641
00:33:24,960 --> 00:33:31,120
Speaker 4: lot of anxiety out there. And look, you know, I

642
00:33:31,160 --> 00:33:35,800
Speaker 4: believe in a progressive tax system. I've championed a progressive

643
00:33:35,840 --> 00:33:40,440
Speaker 4: tax system. I've defended it formally and informally, and will

644
00:33:40,480 --> 00:33:44,520
Speaker 4: continue to And I do believe this economy is broken,

645
00:33:44,880 --> 00:33:47,320
Speaker 4: and I do believe there is a reason there are

646
00:33:47,320 --> 00:33:49,960
Speaker 4: a lot of Bernie supporters that are also Trump supporters,

647
00:33:49,960 --> 00:33:52,720
Speaker 4: a lot of Trump supporters that are also Bernie Sander supporters,

648
00:33:53,160 --> 00:33:57,400
Speaker 4: And that is something we should absorb and understand, and

649
00:33:57,440 --> 00:34:00,240
Speaker 4: so I am not defending the status quo binding stretch

650
00:34:00,280 --> 00:34:03,160
Speaker 4: of the imagination. In fact, our entire agendas around growth

651
00:34:03,200 --> 00:34:06,560
Speaker 4: and inclusion. That's why we do have a minimum wage

652
00:34:06,560 --> 00:34:09,680
Speaker 4: of twenty dollars, but not at Walmart, but at fast

653
00:34:09,680 --> 00:34:13,040
Speaker 4: food restaurants. That's why we do have a twenty five

654
00:34:13,160 --> 00:34:18,200
Speaker 4: dollars minimum wage, hiascination for healthcare workers. No other stake

655
00:34:18,200 --> 00:34:20,480
Speaker 4: can like claim to that. In fact, twenty states have

656
00:34:21,400 --> 00:34:24,200
Speaker 4: minimum waged. It's seven dollars and twenty five cents still

657
00:34:24,520 --> 00:34:25,800
Speaker 4: today in this country.

658
00:34:25,960 --> 00:34:27,200
Speaker 3: That's madness.

659
00:34:27,800 --> 00:34:29,759
Speaker 4: That's why we did the earn income task credits, why

660
00:34:29,800 --> 00:34:33,000
Speaker 4: I increase paid family leave, That's why I increase paid sickly.

661
00:34:33,080 --> 00:34:35,799
Speaker 4: That's why we've done a brand new grade preschool for all.

662
00:34:35,800 --> 00:34:38,640
Speaker 4: That's why we've done historic expansions for childcare. That's why

663
00:34:38,640 --> 00:34:42,040
Speaker 4: we're doing more in healthcare, the largest healthcare expansion.

664
00:34:41,719 --> 00:34:42,320
Speaker 3: In the country.

665
00:34:42,320 --> 00:34:45,120
Speaker 4: That is also putting pressure on our Medicaid budget, there's

666
00:34:45,120 --> 00:34:49,560
Speaker 4: no question about that. To absorb and offset that anxiety

667
00:34:49,560 --> 00:34:53,759
Speaker 4: and stress. But I do think this is unfortunate and

668
00:34:54,440 --> 00:34:58,440
Speaker 4: we'll you know, continue to make a case for alternative stress.

669
00:34:58,440 --> 00:35:00,799
Speaker 2: Okay, thank you, Governor. Let's take a few question from

670
00:35:00,800 --> 00:35:03,480
Speaker 2: the audience. There's two microphones. Please stay your name and

671
00:35:03,480 --> 00:35:04,080
Speaker 2: your affilition.

672
00:35:04,280 --> 00:35:04,520
Speaker 6: Sure.

673
00:35:04,600 --> 00:35:07,839
Speaker 7: Lily Jamali with BBC News, Nice to see everybody on

674
00:35:07,920 --> 00:35:10,800
Speaker 7: the billionaire tax proposal. I just wondered if you have

675
00:35:11,440 --> 00:35:15,080
Speaker 7: actually engaged with any of the billionaires who have threatened

676
00:35:15,360 --> 00:35:18,759
Speaker 7: or have left for months, and what have those conversations

677
00:35:18,760 --> 00:35:19,479
Speaker 7: been like to can you.

678
00:35:19,360 --> 00:35:23,640
Speaker 4: Give us species as you would suggest this is to me,

679
00:35:23,680 --> 00:35:26,759
Speaker 4: it's so it's just become a story, even though for

680
00:35:26,800 --> 00:35:29,120
Speaker 4: me it's an issue we've been tackling for five or

681
00:35:29,160 --> 00:35:32,759
Speaker 4: six months, and now it's become it's just interesting to

682
00:35:32,800 --> 00:35:35,000
Speaker 4: me for so many different reasons. So yeah, no, I

683
00:35:35,120 --> 00:35:38,440
Speaker 4: I've engaged with the proponent of it directly indirectly. My

684
00:35:38,520 --> 00:35:45,520
Speaker 4: staff consistently is working with the person that's championing this.

685
00:35:46,440 --> 00:35:49,800
Speaker 4: I've met with people that feel they're being attacked because

686
00:35:49,800 --> 00:35:52,400
Speaker 4: of it, people that have no problem paying more income tax,

687
00:35:52,840 --> 00:35:56,760
Speaker 4: people that literally are giving away all of their money

688
00:35:56,800 --> 00:35:59,680
Speaker 4: but want to do it on the timeline that their

689
00:35:59,719 --> 00:36:04,920
Speaker 4: family is approved, not this individual's timeline. People that are

690
00:36:04,920 --> 00:36:07,240
Speaker 4: concerned about losing control of their company.

691
00:36:08,640 --> 00:36:13,239
Speaker 3: Because of the unique characteristics of their cash situation.

692
00:36:14,360 --> 00:36:16,200
Speaker 4: Yes, I've met with all of them, and they're all

693
00:36:16,200 --> 00:36:25,040
Speaker 4: in different stages of their lives, careers and their abundance.

694
00:36:26,000 --> 00:36:29,440
Speaker 4: And some will never give a penny away. Some I respect,

695
00:36:29,520 --> 00:36:32,319
Speaker 4: some I don't, so I never have. But I've met

696
00:36:32,360 --> 00:36:34,520
Speaker 4: with those as well. Proof point one of the people

697
00:36:34,520 --> 00:36:37,360
Speaker 4: that was out there promoting my recal. Yet I still

698
00:36:38,080 --> 00:36:41,200
Speaker 4: reached out and met with those folks because I'm very

699
00:36:41,239 --> 00:36:44,879
Speaker 4: mindful as a guy who budgets for this state that

700
00:36:44,960 --> 00:36:47,560
Speaker 4: we rely on a very small number of people that

701
00:36:47,640 --> 00:36:48,640
Speaker 4: allows us to do.

702
00:36:50,719 --> 00:36:52,160
Speaker 3: Historic things.

703
00:36:52,239 --> 00:36:55,040
Speaker 4: For example, with behavior health, which is probably one of

704
00:36:55,040 --> 00:37:00,640
Speaker 4: the most exciting stories that has been under reported in California,

705
00:37:00,680 --> 00:37:03,400
Speaker 4: the investments we're making to reform our behavioral system.

706
00:37:03,520 --> 00:37:04,320
Speaker 3: There's a connection.

707
00:37:04,400 --> 00:37:07,440
Speaker 4: And by the way, that's a literal connection because we

708
00:37:07,480 --> 00:37:10,399
Speaker 4: have a millionaire's tax that also funds our Mental Health

709
00:37:10,400 --> 00:37:14,279
Speaker 4: Services Act, and it provides an abundance of resources and

710
00:37:14,320 --> 00:37:18,600
Speaker 4: investments in a spacey.

711
00:37:19,680 --> 00:37:20,920
Speaker 3: Hey, Governor Jeremy.

712
00:37:20,600 --> 00:37:23,719
Speaker 6: Webbers of Blio, thanks for taking my question. Mayor Matt

713
00:37:23,760 --> 00:37:26,480
Speaker 6: Mayheon of San Jose is not running for governor, guy

714
00:37:26,520 --> 00:37:30,799
Speaker 6: who's criticized elected Democrats in the state and you specifically,

715
00:37:30,840 --> 00:37:33,920
Speaker 6: I'm wondering how you feel about a Democrat running to

716
00:37:33,920 --> 00:37:36,520
Speaker 6: succeed you, seemingly running a campaign.

717
00:37:36,719 --> 00:37:38,759
Speaker 3: I don't know enough about him. I don't good I

718
00:37:38,800 --> 00:37:39,600
Speaker 3: wish him good luck.

719
00:37:40,920 --> 00:37:43,880
Speaker 2: He said you've jumped blindly into Memeland.

720
00:37:44,040 --> 00:37:45,240
Speaker 3: I believe was a quote.

721
00:37:46,520 --> 00:37:49,120
Speaker 4: Well, I've tried to put a mirror up, don't I

722
00:37:49,120 --> 00:37:50,000
Speaker 4: don't know that quote.

723
00:37:50,680 --> 00:37:52,279
Speaker 3: Uh. I think it's been.

724
00:37:52,160 --> 00:37:55,440
Speaker 4: Important what we've done, put a mirror up to the

725
00:37:55,480 --> 00:37:56,560
Speaker 4: advererrant behavior.

726
00:37:56,280 --> 00:37:57,680
Speaker 3: Of Donald Trump. Do you think, man, it's done a

727
00:37:57,680 --> 00:37:59,279
Speaker 3: good job in tan Jose And.

728
00:37:59,280 --> 00:38:01,440
Speaker 4: I think part of putting a mirror up to that

729
00:38:01,520 --> 00:38:05,719
Speaker 4: avant behavior has allowed me to drive a conversation that

730
00:38:05,719 --> 00:38:09,480
Speaker 4: I couldn't drive in the past. And it's a conversation

731
00:38:09,760 --> 00:38:14,319
Speaker 4: that is style, undoubtedly, but also substance. Fifty three lawsuits,

732
00:38:15,400 --> 00:38:20,640
Speaker 4: wildly successful in that space. Organizing with other governors strategies

733
00:38:20,719 --> 00:38:23,160
Speaker 4: to not just defend ourselves but go on the offense.

734
00:38:23,280 --> 00:38:25,840
Speaker 4: Let me give you an example, the West Coast offense

735
00:38:26,880 --> 00:38:31,320
Speaker 4: with governors of other Western states for Healthcare Reproductive.

736
00:38:30,640 --> 00:38:32,759
Speaker 3: Freedom Alliance that we've organized.

737
00:38:33,520 --> 00:38:36,880
Speaker 4: Our engagement with a WHO was meeting with the president

738
00:38:36,920 --> 00:38:38,520
Speaker 4: of the WHO and Davos.

739
00:38:38,560 --> 00:38:39,279
Speaker 3: We saw JB.

740
00:38:39,400 --> 00:38:42,359
Speaker 4: Pritzker, entering that the work we're doing coordinating with other

741
00:38:42,400 --> 00:38:46,640
Speaker 4: ags on strategies related to what's happening and occurring today

742
00:38:47,040 --> 00:38:47,680
Speaker 4: in many.

743
00:38:47,680 --> 00:38:49,120
Speaker 3: Minneapolis and Minnesota.

744
00:38:49,440 --> 00:38:52,200
Speaker 4: The fact that we're working directly with Governor Walt's office

745
00:38:52,200 --> 00:38:55,560
Speaker 4: on a Meeks briest related to their litigation strategies, all

746
00:38:55,600 --> 00:38:58,560
Speaker 4: of that's part and parcel of the approach that we've taken.

747
00:39:01,680 --> 00:39:04,400
Speaker 8: Hi, my name is stri Mupitie. I'm a reporter at

748
00:39:04,440 --> 00:39:07,440
Speaker 8: the Information at cover AI. My question is do you

749
00:39:07,440 --> 00:39:09,640
Speaker 8: think we're in AI bubble and how do you foresee

750
00:39:09,680 --> 00:39:12,840
Speaker 8: this playing out? Last night I reported that in video,

751
00:39:13,200 --> 00:39:17,400
Speaker 8: Microsoft and Amazon are investing up to sixty billion in

752
00:39:17,440 --> 00:39:19,839
Speaker 8: Opening Eye, And so I'm curious about sort of all

753
00:39:19,880 --> 00:39:22,759
Speaker 8: these inter linked circular deals and what do you mean?

754
00:39:22,920 --> 00:39:24,879
Speaker 2: And by the way, an amendment, because it's a great question.

755
00:39:24,960 --> 00:39:27,399
Speaker 2: What would it mean for California if we are and the.

756
00:39:27,320 --> 00:39:31,960
Speaker 4: Budget We're mindful of that. It's why we're in our

757
00:39:32,000 --> 00:39:35,239
Speaker 4: January budget. The real show of our budget will be

758
00:39:35,280 --> 00:39:37,560
Speaker 4: made because of the abundance of this moment. I mean

759
00:39:37,600 --> 00:39:40,040
Speaker 4: I just satry December numbers which went through the roof

760
00:39:40,080 --> 00:39:43,319
Speaker 4: our January numbers. We're in a very different place than

761
00:39:43,320 --> 00:39:44,920
Speaker 4: we were just literally a few weeks ago when we

762
00:39:44,960 --> 00:39:47,400
Speaker 4: announced our budget because the nature of the capital gains

763
00:39:47,400 --> 00:39:50,319
Speaker 4: and the income tax revenue. Because of this moment, look,

764
00:39:50,360 --> 00:39:52,240
Speaker 4: it was interesting. I was on so many different panels.

765
00:39:52,280 --> 00:39:54,680
Speaker 4: I participated in these closed conversations around the issue of

766
00:39:54,680 --> 00:39:58,080
Speaker 4: AI and surprisingly overseas. But of course that's what we

767
00:39:58,120 --> 00:40:00,640
Speaker 4: all do here, seeing that an hourly basis not any

768
00:40:00,719 --> 00:40:02,239
Speaker 4: daily basis, and the interactions we have.

769
00:40:02,320 --> 00:40:03,800
Speaker 3: Are we in a bubble? Are we not in a bubble?

770
00:40:04,239 --> 00:40:07,000
Speaker 4: And everyone's perspective by Larry Fink had his version of no,

771
00:40:07,120 --> 00:40:10,920
Speaker 4: we're not, and others would suggest that we are. But

772
00:40:11,320 --> 00:40:13,600
Speaker 4: the end of the day, the boom bust will lead

773
00:40:13,640 --> 00:40:17,399
Speaker 4: to this sort of infrastructure, this new platform that will

774
00:40:17,480 --> 00:40:20,520
Speaker 4: change everything in more ways on more days and fundamentally.

775
00:40:20,640 --> 00:40:22,680
Speaker 4: On the other side of that is a little bit

776
00:40:22,719 --> 00:40:23,600
Speaker 4: more optimism.

777
00:40:23,640 --> 00:40:25,560
Speaker 3: But in the short term the situation soho, there'll be

778
00:40:25,600 --> 00:40:26,440
Speaker 3: winners and losers.

779
00:40:26,640 --> 00:40:29,719
Speaker 4: To your point, we are the beneficiary, the country is

780
00:40:29,719 --> 00:40:32,959
Speaker 4: the beneficiary. You saw outperforming consumer spending is a relates

781
00:40:33,000 --> 00:40:34,360
Speaker 4: to GDP in this country. I mean, this is the

782
00:40:34,400 --> 00:40:36,960
Speaker 4: only thing Donald Trump has going for him right now

783
00:40:37,239 --> 00:40:41,440
Speaker 4: personally too, because the crony capitalism, the seth deally that

784
00:40:41,520 --> 00:40:44,080
Speaker 4: he's doing in this space, the crypto in the AI space.

785
00:40:44,160 --> 00:40:47,839
Speaker 3: But it's a really exciting and livening time.

786
00:40:47,880 --> 00:40:50,080
Speaker 4: California, as you know, is the first state to lead

787
00:40:50,160 --> 00:40:53,840
Speaker 4: in terms of doing regulations for frontier.

788
00:40:53,400 --> 00:40:56,120
Speaker 3: Models, large language models. We work through that over a

789
00:40:56,160 --> 00:40:58,439
Speaker 3: two year process. It's become we think.

790
00:40:59,000 --> 00:41:02,640
Speaker 4: I don't want to overstate it, but Kathy Hockel mirrored

791
00:41:02,800 --> 00:41:03,879
Speaker 4: a lot of what we did.

792
00:41:04,120 --> 00:41:06,160
Speaker 3: She made it our own in New York. In some ways,

793
00:41:06,200 --> 00:41:08,720
Speaker 3: it may have the tenants of becoming a national model.

794
00:41:09,040 --> 00:41:10,320
Speaker 3: We take it very seriously.

795
00:41:10,760 --> 00:41:14,480
Speaker 4: Truth, trust, peril, promise, but I don't see it in

796
00:41:14,520 --> 00:41:18,600
Speaker 4: binary terms. I'm not an accelerist, nor am I doomer

797
00:41:19,239 --> 00:41:21,880
Speaker 4: in this respect. And maybe it's because I spend too

798
00:41:21,960 --> 00:41:24,960
Speaker 4: much time with all of the flavors of perspectives on this,

799
00:41:25,080 --> 00:41:26,320
Speaker 4: so I can see the contours.

800
00:41:26,360 --> 00:41:27,960
Speaker 3: But I also know this, we don't know what we

801
00:41:28,000 --> 00:41:28,400
Speaker 3: don't know.

802
00:41:29,360 --> 00:41:31,800
Speaker 4: But I do see the need for us to address

803
00:41:31,840 --> 00:41:34,560
Speaker 4: the issue of anxiety in a deep and profound way.

804
00:41:34,600 --> 00:41:36,840
Speaker 4: And that's why we've been leading an effort which we

805
00:41:36,880 --> 00:41:40,680
Speaker 4: hope to unveil very shortly on UBC not universal basic

806
00:41:40,760 --> 00:41:43,640
Speaker 4: income income in the old construct. But this notion of

807
00:41:44,120 --> 00:41:47,600
Speaker 4: universal basic capital, a lot of folks talking about sovereign

808
00:41:47,680 --> 00:41:50,080
Speaker 4: wealth funds more challenging.

809
00:41:49,640 --> 00:41:52,160
Speaker 3: Than it appears to do. That. I've been working to

810
00:41:52,200 --> 00:41:53,640
Speaker 3: try to figure a version of that out.

811
00:41:53,960 --> 00:41:59,040
Speaker 4: But universally basic capital is important predistribution strategies, not just

812
00:41:59,120 --> 00:42:03,440
Speaker 4: redistribution strung tenants and aspects for the California economy. Your

813
00:42:03,480 --> 00:42:06,880
Speaker 4: question that we're trying to shape more on that, We

814
00:42:06,960 --> 00:42:11,320
Speaker 4: hope in May and June of this year as we

815
00:42:11,760 --> 00:42:15,560
Speaker 4: lay out some tracks for resolving some of that anxiety

816
00:42:15,600 --> 00:42:16,399
Speaker 4: going trying to get.

817
00:42:16,280 --> 00:42:16,759
Speaker 3: To two more.

818
00:42:17,840 --> 00:42:22,000
Speaker 9: Hi, Governor, thanks for taking our questions. You and the

819
00:42:22,040 --> 00:42:26,239
Speaker 9: Attorney General released guidance this week saying that state and

820
00:42:26,360 --> 00:42:34,160
Speaker 9: local law law enforcement have the authority to investigate violations

821
00:42:34,160 --> 00:42:37,880
Speaker 9: of state law by federal officers. And there's also a

822
00:42:37,920 --> 00:42:42,200
Speaker 9: proposal in the legislature this year that would require the

823
00:42:42,239 --> 00:42:47,480
Speaker 9: state attorney general to investigate shootings by federal officers. So

824
00:42:48,200 --> 00:42:50,440
Speaker 9: do you think that that should be a mandate and

825
00:42:50,520 --> 00:42:55,000
Speaker 9: should it be the responsibility of state law enforcement.

826
00:42:54,680 --> 00:42:57,480
Speaker 4: Or Well, we have great partnerships, you know, I've been

827
00:42:57,560 --> 00:42:59,839
Speaker 4: very proud we worked with the legislature did some.

828
00:43:00,239 --> 00:43:00,799
Speaker 3: Never been done.

829
00:43:00,840 --> 00:43:04,839
Speaker 4: In California, we provided state grants for prosecution two hundred

830
00:43:04,840 --> 00:43:07,600
Speaker 4: and sixty seven million dollars to fifty five laa's local

831
00:43:07,960 --> 00:43:13,760
Speaker 4: law enforcement agencies for investigations and prosecution. So we believe

832
00:43:13,880 --> 00:43:16,800
Speaker 4: you know, localism is determinative. It relates to local independent

833
00:43:16,840 --> 00:43:20,480
Speaker 4: district attorneys. There's obviously role of our Department of Justice

834
00:43:20,600 --> 00:43:23,480
Speaker 4: ag level, but needs to be determined on the basis

835
00:43:23,480 --> 00:43:24,840
Speaker 4: of the facts on the ground.

836
00:43:24,840 --> 00:43:26,239
Speaker 3: Your question as it relates.

837
00:43:25,920 --> 00:43:30,920
Speaker 4: To legislation, as you know well, tend not to opine

838
00:43:31,239 --> 00:43:35,600
Speaker 4: about penning legislation in real process as that process unfolds.

839
00:43:36,160 --> 00:43:39,200
Speaker 4: But I appreciate you referencing something that I'm not sure

840
00:43:39,239 --> 00:43:41,680
Speaker 4: many states have done of any And that was the

841
00:43:41,719 --> 00:43:45,280
Speaker 4: guidance we put out in partnership with the ag reminding

842
00:43:45,360 --> 00:43:49,080
Speaker 4: local days and local law enforcement officials of their authority

843
00:43:49,400 --> 00:43:52,640
Speaker 4: vested in them understate law to move forward with prosecutions.

844
00:43:52,719 --> 00:43:56,040
Speaker 4: It's limited in scope. We're not naive about federal rules

845
00:43:56,040 --> 00:43:59,160
Speaker 4: and preemption. By the way, that's being tested in the courts.

846
00:43:59,200 --> 00:44:03,600
Speaker 4: I signed the first in the country on unmasking for

847
00:44:03,680 --> 00:44:07,480
Speaker 4: federal agencies for federal agents, which is also part of

848
00:44:07,520 --> 00:44:09,560
Speaker 4: the discussion of whether or not we have a government shutdown,

849
00:44:10,640 --> 00:44:14,799
Speaker 4: and I think it's an important one. I think they

850
00:44:14,800 --> 00:44:17,160
Speaker 4: should take the masks off. You want to build trust,

851
00:44:17,680 --> 00:44:21,360
Speaker 4: you want to build sense of community. Again, this idea

852
00:44:21,400 --> 00:44:24,120
Speaker 4: that we have a private police force that seems to

853
00:44:24,120 --> 00:44:24,920
Speaker 4: have taken an oath.

854
00:44:24,760 --> 00:44:26,759
Speaker 3: Of office to the president, not the constitution.

855
00:44:27,800 --> 00:44:30,719
Speaker 4: This paramilitary outfit scares the hell out of me, and

856
00:44:30,760 --> 00:44:33,120
Speaker 4: I imagine scares the hell out of you and sure

857
00:44:33,120 --> 00:44:35,640
Speaker 4: as hell as communities on edge all across this country.

858
00:44:36,560 --> 00:44:39,680
Speaker 4: Unmasking would be one of the primary reforms we should

859
00:44:39,640 --> 00:44:40,359
Speaker 4: avange one more.

860
00:44:40,560 --> 00:44:43,760
Speaker 1: Thanks Ellie Kamasher with Bloomberg. Good to see you again.

861
00:44:44,120 --> 00:44:46,959
Speaker 1: A couple of other pieces of legislation. One would ban

862
00:44:47,840 --> 00:44:52,800
Speaker 1: ice officials from applying or getting California public employee jobs.

863
00:44:52,880 --> 00:44:57,279
Speaker 1: Another one would tax immigration to centers in California. So

864
00:44:57,640 --> 00:44:59,600
Speaker 1: wondering if you support any of those or what is

865
00:44:59,680 --> 00:45:01,239
Speaker 1: kind of your constructive proposals.

866
00:45:01,320 --> 00:45:03,320
Speaker 4: We've looked at that, and we've looked at that before

867
00:45:03,320 --> 00:45:08,480
Speaker 4: the legislative proposal, and we've looked through I don't want

868
00:45:08,480 --> 00:45:12,759
Speaker 4: to get I'm now literally seeing my legal memo in

869
00:45:12,760 --> 00:45:16,600
Speaker 4: my mind on the proposal. I want to be careful

870
00:45:16,760 --> 00:45:19,759
Speaker 4: not to opine on that, but it is pending. It's

871
00:45:19,760 --> 00:45:22,960
Speaker 4: something we had already considered, and we'll see where the

872
00:45:23,040 --> 00:45:26,480
Speaker 4: legislation lays out. But there are some legal parameters that

873
00:45:26,560 --> 00:45:28,200
Speaker 4: have to be worked through on both of those.

874
00:45:28,560 --> 00:45:29,880
Speaker 3: Before I let you go Governor.

875
00:45:30,040 --> 00:45:31,480
Speaker 2: At the beginning of next year, you will be a

876
00:45:31,520 --> 00:45:33,480
Speaker 2: fifty nine year old, unemployed man.

877
00:45:34,480 --> 00:45:38,960
Speaker 3: Jennifer, there's nothing. Yeah, that's not even middle age. That's

878
00:45:39,000 --> 00:45:40,399
Speaker 3: the other side of middle age.

879
00:45:40,480 --> 00:45:43,480
Speaker 2: So what any plans for twenty twenty seven.

880
00:45:44,760 --> 00:45:47,280
Speaker 4: I'm just so hurt by your question. I'm so struck

881
00:45:47,320 --> 00:45:47,640
Speaker 4: by it.

882
00:45:48,120 --> 00:45:49,080
Speaker 3: Yeah, I believe it's fact.

883
00:45:49,719 --> 00:45:52,319
Speaker 4: I know I'm a milk carton with a sell by date,

884
00:45:52,400 --> 00:45:56,280
Speaker 4: and it's that's that's why all these questions about who's

885
00:45:56,320 --> 00:46:00,000
Speaker 4: next and all that are uncomfortable. And let me apologie

886
00:46:00,120 --> 00:46:03,879
Speaker 4: us to Jerry Brown and for all the little things

887
00:46:03,960 --> 00:46:06,800
Speaker 4: I said and did when I was sitting there chopping

888
00:46:06,840 --> 00:46:09,920
Speaker 4: at his knees and feet and uh and uh and

889
00:46:10,280 --> 00:46:12,200
Speaker 4: working to get in his office.

890
00:46:12,920 --> 00:46:14,120
Speaker 3: But this has been a privilege.

891
00:46:14,239 --> 00:46:15,680
Speaker 4: And I'm going to run one hundred and ten yard

892
00:46:15,719 --> 00:46:20,239
Speaker 4: dash and if anyone sees evidence that I'm not, I

893
00:46:20,280 --> 00:46:21,759
Speaker 4: got some work to do. But I think there's plenty

894
00:46:21,760 --> 00:46:24,879
Speaker 4: of evidence that I am. You know, I've got an Okay,

895
00:46:24,920 --> 00:46:28,160
Speaker 4: our process that's well established, that's the bane of existing.

896
00:46:28,320 --> 00:46:31,160
Speaker 4: All my poor department heads and you know you can

897
00:46:31,200 --> 00:46:33,040
Speaker 4: you can see what we got quarter by quarter and

898
00:46:33,880 --> 00:46:35,279
Speaker 4: uh and all the work we want to do to

899
00:46:35,280 --> 00:46:38,720
Speaker 4: finish the job and and and navigating this treacherous environment.

900
00:46:38,719 --> 00:46:40,560
Speaker 4: I want to be held to a higher level of accountability.

901
00:46:40,600 --> 00:46:42,560
Speaker 4: I know some people say, well, just you know, not

902
00:46:42,640 --> 00:46:45,479
Speaker 4: your job to get out in front talk about the way.

903
00:46:45,440 --> 00:46:48,520
Speaker 3: The world is and should be. I think it is

904
00:46:48,560 --> 00:46:48,960
Speaker 3: my job.

905
00:46:49,000 --> 00:46:51,799
Speaker 4: I have a moral authority that I need to bring

906
00:46:51,960 --> 00:46:54,280
Speaker 4: to this conversation, not just a formal role of governor

907
00:46:54,320 --> 00:46:57,960
Speaker 4: of California, but also represent the state or twenty seven

908
00:46:57,960 --> 00:47:01,319
Speaker 4: percent of US are for and born size of twenty

909
00:47:01,320 --> 00:47:05,280
Speaker 4: one state populations combined. We're global state. We're an international

910
00:47:05,320 --> 00:47:07,879
Speaker 4: I mean, we are a universal state in every way,

911
00:47:07,880 --> 00:47:12,560
Speaker 4: shape or form. What's happening around the globe impacts California

912
00:47:12,640 --> 00:47:15,120
Speaker 4: disproportionately number one and two way trade, number one in

913
00:47:15,160 --> 00:47:17,360
Speaker 4: direct foreign investment. Look at the ports, forty percent of

914
00:47:17,440 --> 00:47:19,799
Speaker 4: the goods movement down in LA and Long Beach. All

915
00:47:19,800 --> 00:47:23,160
Speaker 4: of this directly impacts US, and I think anyone running

916
00:47:23,160 --> 00:47:25,840
Speaker 4: for governor and auditioning for governor needs.

917
00:47:25,640 --> 00:47:27,560
Speaker 3: To be reminded of that as well. It's a big

918
00:47:27,600 --> 00:47:28,520
Speaker 3: part of the job.

919
00:47:28,600 --> 00:47:31,880
Speaker 4: En Roll asked farmers as the ranchers whose tax burden

920
00:47:31,920 --> 00:47:34,800
Speaker 4: has gotten worse, not better since Donald Trump has become president.

921
00:47:35,200 --> 00:47:37,960
Speaker 4: With these regressive taxes and tariffs, and the trade policies

922
00:47:38,480 --> 00:47:41,919
Speaker 4: and all the dams we've done globally overseas, these are

923
00:47:41,960 --> 00:47:44,799
Speaker 4: direct issues, and so it's really important, I think. And

924
00:47:44,840 --> 00:47:50,239
Speaker 4: so that's my mindset, and we'll see where fate brings things.

925
00:47:50,280 --> 00:47:52,239
Speaker 4: One thing I am, and this is important too.

926
00:47:53,000 --> 00:47:54,279
Speaker 3: I'm also a small business guy.

927
00:47:54,440 --> 00:47:57,960
Speaker 4: And most of you don't know that or don't care,

928
00:47:59,040 --> 00:48:00,720
Speaker 4: but I started right out a colleg pen of paper.

929
00:48:00,960 --> 00:48:04,200
Speaker 4: One part time employee, Pat Kelly, started about twenty one

930
00:48:04,239 --> 00:48:08,160
Speaker 4: small businesses, restaurants, hotels, and wineries at peak about a

931
00:48:08,239 --> 00:48:10,719
Speaker 4: thousand folks. Not saying that to impress anybody, but to

932
00:48:10,760 --> 00:48:14,120
Speaker 4: press upon you a passionate entrepreneur. You know when people

933
00:48:14,160 --> 00:48:17,359
Speaker 4: start Democrats don't understand p and ls, and I mean, yeah,

934
00:48:17,520 --> 00:48:21,040
Speaker 4: spare me, spare me, live and breathe this. It's been

935
00:48:21,080 --> 00:48:24,440
Speaker 4: in a blind trust, it's been frustrating, not that it

936
00:48:24,480 --> 00:48:27,479
Speaker 4: matters anymore. I should be out here promoting, in fact,

937
00:48:27,480 --> 00:48:30,160
Speaker 4: the business the way the president is operating. I am

938
00:48:30,160 --> 00:48:35,200
Speaker 4: promoting my Patriot shop, which has the knee pads available,

939
00:48:35,239 --> 00:48:39,359
Speaker 4: and maybe even a clone that we may be working on.

940
00:48:39,800 --> 00:48:44,600
Speaker 4: That smells like success at least that's well, that's Trump's colonne.

941
00:48:44,680 --> 00:48:46,480
Speaker 3: Forgive me that he's hawking.

942
00:48:47,440 --> 00:48:50,719
Speaker 4: But I have a few identities, but public service is

943
00:48:51,080 --> 00:48:55,279
Speaker 4: the most precious and no matter what happens, that that

944
00:48:55,400 --> 00:48:57,239
Speaker 4: is never going to escape me. And that just may

945
00:48:57,239 --> 00:49:00,719
Speaker 4: be me out there volunteering and working with Jen and

946
00:49:00,760 --> 00:49:04,600
Speaker 4: her nonprofit on gender equality, or may manifest differently.

947
00:49:04,200 --> 00:49:06,319
Speaker 3: Who knows. Governor, Thank you for joining us. It's good

948
00:49:06,320 --> 00:49:07,600
Speaker 3: to be with you. Thank you much