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Speaker 1: Now from our nation's capital. This is Bloomberg Sound On.

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Speaker 1: This is part of the story that you're seeing more

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Speaker 1: broadly across the economy, which is the shifting bal and

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Speaker 1: tough power between employees and employers. They're still actively trying

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Speaker 1: to boost demand to make up for the pandemic. Bloomberg

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Speaker 1: Sound On, Politics, policy and perspective from DC's top name.

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Speaker 1: Sake care most about whether or not the president or

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Speaker 1: any of his associates were part of an organized conspiracy.

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Speaker 1: We've decided the stage to invest in people. We take

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Speaker 1: care of people, and we need people to be able

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Speaker 1: support things. Bloomberg Sound On with Joe Matthew on Bloomberg Radio.

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Speaker 1: Thanks for joining us on the fastest hour in politics,

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Speaker 1: the last one of the year, and we're dedicating it

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Speaker 1: to will likely be the biggest political story of next year.

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Speaker 1: The midterm elections were joined now by Greg Jaro, Bloomberg

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Speaker 1: Government Elections Reporter. Greg, Thanks for being here. We spent

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Speaker 1: the second half probably of one maybe longer talking about

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Speaker 1: the looming mid term elections. Has the cycle already begun?

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Speaker 1: Oh yes? Politics never sleeps In Washing d C. Around

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Speaker 1: the country, Among political professionals, it seems like the next

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Speaker 1: election begins once the last one has ended, and yes,

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Speaker 1: we have the stakes are very high. We have a

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Speaker 1: fifty Senate um that's going to be closely contested in

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Speaker 1: the mid term election and one of the smallest House

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Speaker 1: majorities in US history, with Democrats defending a narrow five

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Speaker 1: seat majority in that chamber. So there's a lot to

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Speaker 1: watch in the coming ten plus months as we approach

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Speaker 1: the November election. Before we start picking through some of

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Speaker 1: the races that you're following, I wonder what this means

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Speaker 1: for Democrat efforts here in Washington, those who already have jobs.

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Speaker 1: The conventional wisdom is it's height window at the beginning

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Speaker 1: of next year, maybe January February, to get anything done

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Speaker 1: on Capitol Hill. Is that how you see it? Yeah,

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Speaker 1: I mean usually legislative majorities take the odd numbered year

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Speaker 1: to try and pass a lot of legislation because there is,

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Speaker 1: as you mentioned, a limited window to pass things in

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Speaker 1: an election year, because the realities of campaigning kind of

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Speaker 1: take hold and there's a more limited schedule, and you

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Speaker 1: also want to in the obnambered year. You know, the

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Speaker 1: majority party in any legislature wants to pass things that

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Speaker 1: have time to take hold among the electorate. It's one

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Speaker 1: thing to make headlines for passing things in Washington, but

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Speaker 1: does that really filter out into the states and the

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Speaker 1: districts to the voters that are actually going to decide

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Speaker 1: that the the electoral fates of the members of Congress.

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Speaker 1: The Democrats, with their slim majorities, are trying to parlay

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Speaker 1: those narrow legislative majorities into passing legislation that they hope

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Speaker 1: that will um rally their supporters to come to the polls,

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Speaker 1: because in mid term elections, more of the energy and

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Speaker 1: enthusiasm usually lies with the opposition party. In midterm elections,

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Speaker 1: since World War Two, the average result in House elections

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Speaker 1: has been the White House is party losing more than

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Speaker 1: twenty five seats. Democrats have just a five seat majority,

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Speaker 1: and so they are certainly the underdogs to keep control

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Speaker 1: of the House. So yeah, history is clearly not on

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Speaker 1: the side of Democrats. As we walk into this midterm

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Speaker 1: election year, most insiders agree the House is very much

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Speaker 1: at risk, but that the Senate might be easier for

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Speaker 1: Democrats to defend, particularly in light of Governor christ the

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Speaker 1: New News decision not to run for Senate. What's your

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Speaker 1: take on that the Senate is a bit trickier to

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Speaker 1: predict than the House, not only because we're still so

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Speaker 1: far out from the election, but one third of the

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Speaker 1: Senate is up every two years, and so Senate elections

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Speaker 1: depend on the partisan distribution of those seats that happened

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Speaker 1: to be up in any two year cycle. And in

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Speaker 1: this coming cycle, we have thirty four Senate seats up

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Speaker 1: for election. Twenty of them are held by Republicans and

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Speaker 1: fourteen by Democrats. So Republicans are playing more defense than

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Speaker 1: Democrats in the Senate elections, but most of the Republican

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Speaker 1: seats that are up for election in two are in

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Speaker 1: safely Republican states. For the most part, Republicans also have

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Speaker 1: more retirements than Democratic senators five to one, but again

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Speaker 1: they're most of the Republican retirements are in strongly conservative states.

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Speaker 1: So I think that the race for the Senate it's

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Speaker 1: probably more of a toss up. You mentioned the r

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Speaker 1: word those who are retiring, and you've been compiling a

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Speaker 1: list of lawmakers who are retiring that I saw on

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Speaker 1: the terminal those not seeking re election. It's pretty long list.

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Speaker 1: Which party will have more seats to defend because of retirements? Well,

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Speaker 1: in the Senate, you have five Republican retirements and just

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Speaker 1: one Democratic retirement, that of Patrick Leahy of Vermont from

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Speaker 1: the safely democratic state. But the five Republican retirements by

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Speaker 1: and large are coming from Republican friendly states, so the

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Speaker 1: races in those states may be decided in the primaries

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Speaker 1: more than in the general election. There are some states

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Speaker 1: to watch in the Senate for Republican health seats, like

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Speaker 1: in Ohio for the seat of retiring Senator Rob Portman,

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Speaker 1: a state that used to be very polically competitive as

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Speaker 1: leaned Republican, especially in the era of Donald Trump leading

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Speaker 1: the Republican Party. Pennsylvania, where Republican Pat Toomey's retiring, is

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Speaker 1: also a state to watch. But there are retirements on

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Speaker 1: the House side. UM. You have much more, many more

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Speaker 1: retirements on the Democratic side than in the on the

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Speaker 1: Republican side. In fact, seventeen of the last twenty one

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Speaker 1: House members who have announced plans to retire, seek other

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Speaker 1: political office, or resign have come from the Democrats. Most

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Speaker 1: of them are from safely democratic districts. UM, but you

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Speaker 1: do have some members of Congress on the Democratic side

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Speaker 1: who represent politically competitive districts. That's going to be They're

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Speaker 1: going to be hard for the party to hold in

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Speaker 1: the election. Did I hear you right in that Ohio

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Speaker 1: and Pennsylvania then could help decide who controls the Senate. Absolutely? Absolutely,

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Speaker 1: and there'll be will be critical to deciding who controls

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Speaker 1: the Senate. Ohio, as I mentioned, is a state that

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Speaker 1: was long a bell weather and national politics, and that's

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Speaker 1: still a state to watch, but it has crept over

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Speaker 1: to the Republican side the last few election cycles. Pennsylvania,

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Speaker 1: one of the closest states in the election, will be

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Speaker 1: critical for deciding which party controls the Senate. After the

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Speaker 1: departure of Rob Portman, just to stop down on that

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Speaker 1: for a moment is a pretty big deal when we

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Speaker 1: talk about the lack of compromise in sort of this

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Speaker 1: new era of of partisan bickering. He was one of

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Speaker 1: the last negotiators on Capitol Hill. We wouldn't have the

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Speaker 1: infrastructure law without him. Will there be another Rob Partman

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Speaker 1: left in the Senate? Yeah, we are seeing kind of

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Speaker 1: a dwindling. I think of senators, members of Congress who,

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Speaker 1: even if they have strongly Republican or Democratic voting records,

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Speaker 1: very bipartisan minded, compromised minded records. You can say that

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Speaker 1: about Rob Portman of Ohio. You can say that also

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Speaker 1: about Richard Shelby of Alabama, a veteran appropriator who's retiring

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Speaker 1: after the election. Like Portman, Shelby has a decidedly conservative

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Speaker 1: voting record, but that hasn't precluded him either one of them,

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Speaker 1: from reaching across the aisle to form compromises with Democrats

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Speaker 1: on some key issues. So maybe we shouldn't be talking

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Speaker 1: so much about who controls the chamber, but the but

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Speaker 1: the important cultural shift that will take place. Political culture. Yes,

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Speaker 1: that's right, Um, we have a The Senate is very polarized,

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Speaker 1: very evenly divided. Of course, being a Senate, UM, it's

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Speaker 1: coom interesting to see after the election what kind of

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Speaker 1: Democrats and Republicans are are going to join the eight

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Speaker 1: Congress in three with a lot of these states, UM,

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Speaker 1: with a lot in a lot of states and districts,

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Speaker 1: it's the primary election rather than the general election that

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Speaker 1: is the determinative election. And I want to look at

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Speaker 1: a lot of these Republican primaries, especially in Senate elections,

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Speaker 1: to see what kind of Republican emergence merges from the

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Speaker 1: primary and to what extent Donald Trump, former President Trump

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Speaker 1: has a role in shaping the outcome that election. Um,

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Speaker 1: I want to see to what extent Republican candidates feels

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Speaker 1: some you know, what kind of fealty or loyalty they

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Speaker 1: have to the former president and to what extent they

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Speaker 1: feel like they have to ingratiate themselves with the former

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Speaker 1: president to win, to win the votes of Republican primary

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Speaker 1: voters who are still very pro Trump. You know, I

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Speaker 1: would have asked you if Mitt Romney, if Senator Romney

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Speaker 1: might might have a way to rise into this role

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Speaker 1: that a Rob Portman was playing. I mean, they were

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Speaker 1: really both involved in those negotiations, but maybe an opportunity

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Speaker 1: for for Mitt Romney to to play a more moderate

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Speaker 1: role in reaching across the aisle. But if if Donald

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Speaker 1: Trump is involved in this election cycle, I'm thinking that

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Speaker 1: to know, Yeah, well, Romney and Trump have had a

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Speaker 1: very up and down political relationship over the years. For sure. Uh,

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Speaker 1: if I couldn't see Romney and he's starting to do this,

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Speaker 1: I couldn't see Mitt Romney kind of emerging into more

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Speaker 1: of a kind of elder statesman role in the Senate. UM.

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Speaker 1: You know, certainly he has a rather conservative record, but

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Speaker 1: he's the sort of senator, despite his relative lack of

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Speaker 1: seniority in the Senate, sort of has the the UH,

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Speaker 1: the the image and the gravitas and the national political

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Speaker 1: following where anything he really says on the floor or

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Speaker 1: anything he does that we'll get outsized attention. And so

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Speaker 1: I could see him kind of taking more of an outsized,

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Speaker 1: higher profile role in the Senate. We'll see if the

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Speaker 1: party allows them to. Uh. Then there's the redrawing of

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Speaker 1: congressional maps greg another big factor in determining the outcome

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Speaker 1: of a lot of house races and a lot of states.

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Speaker 1: What should our listeners know about this, Well, we're a

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Speaker 1: little more than halfway through the process. In terms of

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Speaker 1: the number of states that have had congressional maps signed

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Speaker 1: into law or adopted by redistricting commissions. Forty four states

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Speaker 1: have to redraw lines. Six states have just one district

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Speaker 1: and don't have to do so. What's important to know

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Speaker 1: is that Republicans are redrawing more than twice as many

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Speaker 1: districts as Democrats because Republicans control more state legislatures and

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Speaker 1: governorships than Democrats, and we're seeing Republicans trying to parlay

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Speaker 1: those advantages into ensuring political security for their members in

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Speaker 1: when they expect to win the House majority, but also

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Speaker 1: in elections for the rest of the decade because the

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Speaker 1: GOP wants to build a more stable majority, but in

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Speaker 1: the near term, their Republicans are trying to convert a

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Speaker 1: lot of politically competitive districts into Republican friendly districts that

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Speaker 1: Democrats will be hard pressed to win. Back in fascinating

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Speaker 1: conversation with Greg Juro Bloomberg government elections reporters, spending some

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Speaker 1: time with us year in the closing days of one

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Speaker 1: and gearing up for an awfully busy mid term election

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Speaker 1: cycle with us on Bloomberg Sound On. We'll continue our

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Speaker 1: conversation ahead of check traffic and weather while we're at

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Speaker 1: it here on sound On, Joe Matthew, This is Bloomberg.

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Speaker 1: This is Bloomberg. So on with Joe Matthew on Bloomberg

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Speaker 1: Radio as we spend time looking ahead to the mid

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Speaker 1: term elections. It's all about twenty two and Greg Giro Bloomberg,

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Speaker 1: government elections reporter, who has been steeped in this conversation

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Speaker 1: for months already, and gosh, you must be this is

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Speaker 1: like Christmas morning almost for you. Greg we're almost there

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Speaker 1: actually in a mid term election year. I wonder, though,

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Speaker 1: how concerned you are about perceptions around election integrity. I've

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Speaker 1: seen polls that show a majority of Republicans, in some

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Speaker 1: cases a pretty wide majority of Republicans still believe that

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Speaker 1: the election was stolen. We know that Donald Trump will

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Speaker 1: play some role, if not an outsized role, in campaigning

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Speaker 1: for Republicans in the year ahead. If that perception is true, though,

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Speaker 1: how to Republicans motivate Republican voters to go to the polls. Well,

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Speaker 1: it's a good question. It's a real challenge. As we

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Speaker 1: saw in the twenty twenty one U S Senate runoffs

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Speaker 1: in Georgia, Republican turnout, you know, tended to be a

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Speaker 1: Republican turnout, may have been hampered by some of the

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Speaker 1: unfounded claims that the former president made about election integrity

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Speaker 1: and security, and it could have kept some Republicans from

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Speaker 1: heavily Republican counties from coming out to the polls. And

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Speaker 1: what could have saved you know, both Republican held then

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Speaker 1: Republican held Senate seats for Republicans, and it could have

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Speaker 1: very possibly cost the Republicans their majority in those razor

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Speaker 1: thin wins for the Democrats in Georgia. Yes, it's something

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Speaker 1: to watch in the two midterm elections, because if you know,

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Speaker 1: if Donald Trump is uh, you know, trying to convey

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Speaker 1: that these elections are not safe and secure, Um, he doesn't.

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Speaker 1: You know, you don't want to. If you're a Republican,

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Speaker 1: you don't want to put a damper on your own

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Speaker 1: voters from turning out. You want to trying a way

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Speaker 1: to energize your base to turn out and vote. And

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Speaker 1: in most midterm elections, as we've discussed earlier, they tend

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Speaker 1: to be a reference referenda on the incoming administration. And

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Speaker 1: usually the more the energy in mitrom elections lives with

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Speaker 1: the opposition party than with the incumbent administration. And that

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Speaker 1: was certainly the case when when we went to vote

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Speaker 1: in Virginia and New Jersey right in one, when you

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Speaker 1: look at the governor's races, I wonder how you might

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Speaker 1: be reading into those as sort of Bellweather's going into

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Speaker 1: the midterms. A Republican win and and a surprising one

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Speaker 1: in the state of Virginia. Uh, a Democratic win, but

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Speaker 1: a thin, a razor thin margin in New Jersey, and

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Speaker 1: a lot of it came down to turn out. Democrats

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Speaker 1: were not there in both cases for their candidates in

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Speaker 1: the way they were expected to be. Is that what

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Speaker 1: twenty two will look like for congressional candidates. It certainly

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Speaker 1: could be a canary in the coal mine, and those

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Speaker 1: off your elections, as I like to call them, are

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Speaker 1: usually analyzed pretty pretty deeply in the year before the

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Speaker 1: election for any signs of what they could portend about

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Speaker 1: mid elections in Virginia, usually the White House, this party

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Speaker 1: loses the governor's election in almost every case except one,

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Speaker 1: I believe in the last fifty years that's been the case.

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Speaker 1: Having said that, you know, Glenn young Can won that

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Speaker 1: election in a state that President Joe Biden carried by

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Speaker 1: ten percentage points, just in a New Jersey. Even though

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Speaker 1: that was a Democratic victory, it was a narrow win,

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Speaker 1: as you mentioned, by just three points in a state

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Speaker 1: that President Joe Biden won by sixteen points in Democrats

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Speaker 1: cannot afford to have those under performances in the mid

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Speaker 1: term elections if they are to hold control of the

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Speaker 1: Senate and the House. If districts and states that voted

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Speaker 1: for Joe Biden by ten to fifteen percentage points, as

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Speaker 1: we saw in Virginia New Jersey. If those are coming

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Speaker 1: on the board, if those are going to be highly

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Speaker 1: competitive in the two elections, Democrats could be in for

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Speaker 1: a long and arduous mid term election. How abo issues

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Speaker 1: in the midterms, Well, they look like some of the

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Speaker 1: issues we saw in Virginia and New Jersey becoming cultural

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Speaker 1: you know, the education stuff, critical race theory, and of

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Speaker 1: course COVID will be huge. Greg Yes, the pandemic probably

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Speaker 1: right now, looms large among everything just because it it

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Speaker 1: really deeply affects Americans daily life. The economy, Um, whether

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Speaker 1: the economy can come back on track, although the macro

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Speaker 1: numbers look good, Um, you know, will there be uh

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Speaker 1: wage growth for people, will be able to will be

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Speaker 1: more job creations, Will they'll be mandates exactly? But as

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Speaker 1: you note, Um, a lot of politics is not fought

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Speaker 1: on economic issues, but it's fought on a lot of

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Speaker 1: cultural battlegrounds. And people don't a lot of voters don't

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Speaker 1: necessarily vote on economics or what's in their economic self interests,

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Speaker 1: and they're motivated by a lot of cultural politics on

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Speaker 1: issues like education like we saw in Virginia, or on

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Speaker 1: immigration or some other hot button issues. So Yeah, we'll

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Speaker 1: see what happens in the two mid term elections, but

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Speaker 1: it will be a range of issues that will decide

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Speaker 1: whether Democrats can hold their majority. The one to watch,

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Speaker 1: I think will be President Joe Biden's approval Ready. I

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Speaker 1: think that looms larger than anything. If you look at

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Speaker 1: mid term elections since World War Two, when a president

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Speaker 1: has had a low approval writing under fifty, his party

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Speaker 1: has tended to lose seats in the House and the Senate,

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Speaker 1: often by often a lot of often a lot of seats.

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Speaker 1: In the rare times when a president's party has gained

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Speaker 1: seats in Congress under Bill Clinton tooth thousand two under

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Speaker 1: George W. Bush, both presidents had approval ratings above sixty.

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Speaker 1: Joe Biden right now is in the load to mid forties.

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Speaker 1: Democrats need him to get certainly above fifty percent if

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Speaker 1: they want to hold their slender maturities. And then there's

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Speaker 1: the issue of inflation. Uh. When you start talking about inflation, Greg,

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Speaker 1: you wonder if Joe Biden will be able to get

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Speaker 1: back in the fifties. Do democrats fortunes rest in what

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Speaker 1: happens to inflation? I think, in part yes, because inflation

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Speaker 1: is one of those issues that viscerally affects everyday consumers.

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Speaker 1: And you know how much they pay for gasoline, and

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Speaker 1: how much they pay for how much they pay for food.

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Speaker 1: And if you know more voters are getting more concerned

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Speaker 1: about the rising costs of goods that are eating to

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Speaker 1: the household budgets, They're going to be looking for someone

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Speaker 1: to blame. And right now the Democrats have unified control

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Speaker 1: of government and that could be a hamper on them

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Speaker 1: in the midterm elections if it persists, Greg Brow, We've

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Speaker 1: got a lot to learn in the year ahead, and

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Speaker 1: we'd love to stay in touch with you. Great reporting

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Speaker 1: by Bloomberg Government Elections reporter Greg Darrow. Thanks for the insights, Greg,

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Speaker 1: and happy new year. Thank you. Coming up, we assemble

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Speaker 1: the panel for their view on next year with Bloomberg

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Speaker 1: Politics contributors Geane Chanzano and Rick Davis. I'm Joe Matthew.

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Speaker 1: This is Bloomberg. This is blue Berg Son on with

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Speaker 1: Joe Matthew on Bloomberg Radio. You could argue, and we

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Speaker 1: have that the midterm elections have already begun. That was

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Speaker 1: the line in the morning after Democrats lost the Virginia

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Speaker 1: governor's race. Right and barely held onto the Governor's office

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Speaker 1: in New Jersey. Now that we've got greg Orro's take

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Speaker 1: on things, we turned to the panel with Bloomberg Politics

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Speaker 1: contributors Jeanie Schanzano and Rick Davis. Genie, you've brought some

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Speaker 1: tough analysis for Democrats in Congress as you look ahead

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Speaker 1: to the midterm election year. It's dominated a lot of

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Speaker 1: our conversations. Well, Democrats lose both the House and Senate

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Speaker 1: in the new year. You know, history would tell us

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Speaker 1: it's going to be very, very tough for them to

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Speaker 1: retain both. So I would, if I had to guess, um,

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Speaker 1: I would say that they are, you know, likely to

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Speaker 1: lose at least one, if not both. And again that's history.

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Speaker 1: That's also the fact that we've seen districts redrawn, it's

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Speaker 1: the fact that we've seen you know, revering it on

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Speaker 1: a record number of retirements. And it's also, of course,

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Speaker 1: because the Democrats have got to have something to run on.

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Speaker 1: They have had successes this year, but they haven't delivered

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Speaker 1: to their base what they promised, voting reform, reform of

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Speaker 1: the criminal justice system, the human infrastructure bills. So they've

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Speaker 1: gotten big things done but they're mired in this pandemic

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Speaker 1: and they've been unable to get their communications together, and

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Speaker 1: that's going to be a problem, as we saw in

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Speaker 1: the elections in Virginia. But to me it was New Jersey,

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Speaker 1: how close that state was and it shouldn't have been.

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Speaker 1: That really does tell us where we are at least

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Speaker 1: at this point. These would be the mid terms. We've

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Speaker 1: heard Kevin McCarthy rick say that could be sixty three seats.

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Speaker 1: What what kind of mid term election year are you

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Speaker 1: looking for? What can Republicans reasonably expect? You know, I

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Speaker 1: think it's it's obviously setting up to be a good

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Speaker 1: year for Republicans. Uh One. Historically it's always the party

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Speaker 1: in power who loses seats in the first election. Uh

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Speaker 1: And and and and that probably is going to happen in

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Speaker 1: the House of Representatives. Whether you get to the kind

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Speaker 1: of sixty plus seats that uh that the Republican leader

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Speaker 1: is talking about is a stretch, but you know, forty

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Speaker 1: seats just turned hands, so it's not that much of

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Speaker 1: a stretch. And and and I think that even Democrats

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Speaker 1: who are retiring in large numbers, I think last I

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Speaker 1: heard um are are are recognizing the fact that they

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Speaker 1: won't be in the leadership in the House of Representatives.

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Speaker 1: I think the much more interesting game is in the

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Speaker 1: Senate UHT. Senate Democrats can't lose one single race, and

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Speaker 1: and there are at least a half a dozen really

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Speaker 1: competitive races right now where Democrats could UH lose potentially

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Speaker 1: three or four seats and Republicans could potentially lose a

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Speaker 1: couple of seats themselves. So it could be a really

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Speaker 1: interesting chance for Republicans that gained the Senate. Highly unlikely

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Speaker 1: that Democrats have a good chance of picking up any

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Speaker 1: extra seats to broaden their majority, but we could have

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Speaker 1: a situation in which they lose the House but keep

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Speaker 1: the Senate. Rick, is is that a reasonable outcome in

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Speaker 1: your view? I think that's sort of the betting line,

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Speaker 1: is that the House goes but the Senate stays in

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Speaker 1: a deadlock. UM. But realistically, I would say it wouldn't

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Speaker 1: surprise me that the Republicans by maybe one vote could

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Speaker 1: pick up the Senate UH in this election year, and

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Speaker 1: then you have a much different bag of tricks for

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Speaker 1: the White House. The redrawing of congressional maps, of course,

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Speaker 1: a big story already is as we head into next

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Speaker 1: year with about half of this process done here, Jeanie,

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Speaker 1: it's going to be a big factor in determining a

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Speaker 1: number of house races. Uh, what should our listeners need

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Speaker 1: to know about this? I asked Greg the same thing.

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Speaker 1: As this becomes pretty complicated, what should we be focused

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Speaker 1: on in the new year when it comes to the

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Speaker 1: redrawing the redistricting of congressional districts. It's going to have

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Speaker 1: an impact. It always does, um And I think we're

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Speaker 1: still waiting for some of these to be to be finalized,

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Speaker 1: but we have seen it's not in every case that

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Speaker 1: the Democrats are on the losing end of the redrawing

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Speaker 1: of these maps. But because Republicans control about three quarters

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Speaker 1: of the state legislatures and the states overall, they do

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Speaker 1: have an upper hand with some of these, with many

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Speaker 1: of these redistricting and so that does play a role.

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Speaker 1: And you know, I think as we talk about history,

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Speaker 1: we have to just think you couple the redrawing of

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Speaker 1: the maps with the fact that the opposition party picks

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Speaker 1: up five or more seats in mid term since the

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Speaker 1: eighteen seventies. You know, that sort of tells you where

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Speaker 1: we're headed and sort of what promises to look like

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Speaker 1: when you couple all these factors together, how concerned are

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Speaker 1: you Rick, as a Republican about the issue of election integrity?

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Speaker 1: With Poles showing a majority of Republicans still believe that

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Speaker 1: election was stolen, how do you motivate voters to vote

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Speaker 1: after you've convinced them that is rigged? You know, it's tough.

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Speaker 1: I mean, we were watching these elections in Virginia, New

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Speaker 1: Jersey uh to see whether or not there was any

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Speaker 1: impact of people not voting in both votes. Both elections

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Speaker 1: had very strong voter turnout, with uh uh right after

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Speaker 1: a historically high voter turnout from So I think that

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Speaker 1: right now, you'd have to assume that the American public,

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Speaker 1: even though they are divided, they're activated and and and

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Speaker 1: that you would likely see the same kind of I

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Speaker 1: don't know if you're gonna get record turnout for a

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Speaker 1: mid term in two but you're certainly going to see

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Speaker 1: a strong showing by both parties who feel like there's

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Speaker 1: a lot at stake. What do you think about that?

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Speaker 1: Genie a good problem to have for Democrats or or

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Speaker 1: does Virginia tell the story Republicans were motivated more than

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Speaker 1: Democrats were they were, and I think we're going to

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Speaker 1: see more of the same, which is why we're seeing

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Speaker 1: the administration and Democrats in Congress eager as they get

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Speaker 1: back in the new year to focus on issues that

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Speaker 1: the base really cares about, you know, again, the criminal

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Speaker 1: justice issue, you know, police reform, voting rights. We haven't

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Speaker 1: had a real concerted effort there um, So I do

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Speaker 1: think we're going to see that as they struggle to

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Speaker 1: motivate the base. I think we're gonna see Democrats try

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Speaker 1: to run against the former president. They feel that was

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Speaker 1: a you know, sort of a winning strategy in twenty twenty,

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Speaker 1: and they want to repeat that. You Know, one thing

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Speaker 1: I think that's worth considering is given the struggles that

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Speaker 1: the Biden administration has had with a fifty one fifty Senate,

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Speaker 1: but you know, just fifty one with the VP um,

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Speaker 1: you know they do if they do lose the Senate

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Speaker 1: by one vote, I I would say, and I know

432
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Speaker 1: it's a bit controversial, it may help Democrats as they

433
00:24:47,080 --> 00:24:52,840
Speaker 1: move into four because if Democrats control Washington, d C.

434
00:24:53,080 --> 00:24:57,000
Speaker 1: For four years, it's going to motivate Republicans a lot

435
00:24:57,040 --> 00:25:00,679
Speaker 1: more to get out in If rep Blicans take at

436
00:25:00,760 --> 00:25:04,040
Speaker 1: least one or both houses, Democrats may have an easier

437
00:25:04,080 --> 00:25:07,480
Speaker 1: time actually in retaining the White House. So there is

438
00:25:07,480 --> 00:25:10,000
Speaker 1: a school of thought that, you know, even if it's

439
00:25:10,040 --> 00:25:13,160
Speaker 1: bad to lose, it may benefit them going forward, looking

440
00:25:13,200 --> 00:25:15,679
Speaker 1: ahead in the new year, with Rick and Genie on

441
00:25:15,680 --> 00:25:18,760
Speaker 1: Bloomberg Sound On and more to follow. I'm Joe Matthew.

442
00:25:18,840 --> 00:25:31,040
Speaker 1: This is Bloomberg. This is Bloomberg Sound On with Joe

443
00:25:31,119 --> 00:25:37,400
Speaker 1: Matthew on Bloomberg Radio. The conversation, of course, when we

444
00:25:37,400 --> 00:25:39,920
Speaker 1: returned from the holiday next week here in Washington, d C.

445
00:25:40,119 --> 00:25:43,240
Speaker 1: Is going to be all about the Biden economic agenda,

446
00:25:43,480 --> 00:25:46,880
Speaker 1: what's left of it and so forth. And as we're

447
00:25:46,920 --> 00:25:49,200
Speaker 1: discussing with Rick and Genie here, let's bring the panel

448
00:25:49,280 --> 00:25:52,960
Speaker 1: back in here Bloomberg Politics contributors, the Genie Chanzano and

449
00:25:53,080 --> 00:25:55,280
Speaker 1: Rick Davis. There's not going to be a lot of time.

450
00:25:55,280 --> 00:25:57,280
Speaker 1: We were just discussing the mid terms, right, What do

451
00:25:57,359 --> 00:26:00,240
Speaker 1: the mid terms mean in terms of the schedule, the

452
00:26:00,600 --> 00:26:03,439
Speaker 1: window that Democrats will have to get anything done. I'm

453
00:26:03,480 --> 00:26:06,000
Speaker 1: assuming it's going to be a brief one. I think

454
00:26:06,080 --> 00:26:10,080
Speaker 1: it's beyond brief. I think it's already shut. The reality

455
00:26:10,200 --> 00:26:12,600
Speaker 1: is that the demise of Bill Back Better. At the

456
00:26:12,680 --> 00:26:16,679
Speaker 1: end of this year, UH is gonna hearken into Democrats

457
00:26:16,720 --> 00:26:19,879
Speaker 1: looking for small winds legislatively, things they can do along

458
00:26:19,880 --> 00:26:24,359
Speaker 1: the way that are relatively non controversial, UH, in order

459
00:26:24,400 --> 00:26:27,359
Speaker 1: to quote get things out. But the reality is, no

460
00:26:27,440 --> 00:26:31,280
Speaker 1: Republican is going to sign on UH to a bipartisan

461
00:26:31,320 --> 00:26:36,160
Speaker 1: package that advantages the Democrats, and the Democrats seem uninterested

462
00:26:36,320 --> 00:26:39,640
Speaker 1: in any of those kinds of initiatives. After the big

463
00:26:40,119 --> 00:26:44,359
Speaker 1: um two trillion dollar infrastructure bill passed in a biparson fashion,

464
00:26:44,440 --> 00:26:46,280
Speaker 1: what's it gonna feel like, Genie? I mean, we went

465
00:26:46,280 --> 00:26:49,520
Speaker 1: through this for months and months. We know Joe Mansion's

466
00:26:49,560 --> 00:26:52,240
Speaker 1: not on board. UH. Is there gonna be a big

467
00:26:52,240 --> 00:26:55,480
Speaker 1: eye roll when when the White House or Democratic leaders

468
00:26:55,480 --> 00:26:58,280
Speaker 1: on Capitol Hill try to to re engage on this.

469
00:26:58,640 --> 00:27:01,120
Speaker 1: You know, I think what we're gonna see is we're

470
00:27:01,160 --> 00:27:05,240
Speaker 1: gonna see them try to cobble together something at the

471
00:27:05,280 --> 00:27:08,440
Speaker 1: one point seven five trillion. Then Joe Joe Mention has

472
00:27:08,600 --> 00:27:11,600
Speaker 1: been willing to go along with UM, and it's they're

473
00:27:11,600 --> 00:27:14,040
Speaker 1: gonna try to call it build back Better, but it's

474
00:27:14,080 --> 00:27:17,200
Speaker 1: gonna be, you know, a very different bill. UM, It's

475
00:27:17,240 --> 00:27:20,280
Speaker 1: going to be you know much more focused in one area,

476
00:27:20,680 --> 00:27:23,600
Speaker 1: whether you know it's child tax credits or something that

477
00:27:23,640 --> 00:27:25,320
Speaker 1: they can get behind. I think that's what they're going

478
00:27:25,359 --> 00:27:28,520
Speaker 1: to try to push for um a much smaller, much

479
00:27:28,560 --> 00:27:32,160
Speaker 1: more contained, much more focused bill. Now the question, of course,

480
00:27:32,240 --> 00:27:35,760
Speaker 1: is can they get that past and how, because of course,

481
00:27:36,240 --> 00:27:38,680
Speaker 1: trying to do that on reconciliation, they've got to retain

482
00:27:38,720 --> 00:27:43,640
Speaker 1: all Democrats. Do progressive progressives with that plan you just described,

483
00:27:44,960 --> 00:27:47,119
Speaker 1: they very well could. I mean, you know, listen, if

484
00:27:47,160 --> 00:27:49,160
Speaker 1: if they try to push forward a bill and they're

485
00:27:49,160 --> 00:27:52,200
Speaker 1: not talking about the big, to my mind, elephant in

486
00:27:52,200 --> 00:27:54,440
Speaker 1: the room, which is climate change, I don't see how

487
00:27:54,440 --> 00:27:57,160
Speaker 1: progressive stands. They would stand there, and let's not forget

488
00:27:57,200 --> 00:27:59,560
Speaker 1: you know, you've also got moderates in the Democratic Party

489
00:27:59,720 --> 00:28:02,719
Speaker 1: who are very focused in an election year on the salt.

490
00:28:03,040 --> 00:28:05,480
Speaker 1: So you know, there's a lot of moving parts here.

491
00:28:05,520 --> 00:28:07,800
Speaker 1: I think they're going to try it. I do agree

492
00:28:07,840 --> 00:28:10,040
Speaker 1: with Rick. Either the door is shut or it's a

493
00:28:10,200 --> 00:28:13,640
Speaker 1: real uphill battle at this point for Democrats, and they're

494
00:28:13,680 --> 00:28:16,960
Speaker 1: not even going to be in, you know, in as

495
00:28:17,119 --> 00:28:19,119
Speaker 1: much as they would need to be I think to

496
00:28:19,160 --> 00:28:21,920
Speaker 1: get this done. The calendar is very short next year,

497
00:28:22,119 --> 00:28:23,639
Speaker 1: so this is going to be an election issue one

498
00:28:23,640 --> 00:28:25,119
Speaker 1: way or the other. I think you would both agree.

499
00:28:25,160 --> 00:28:27,000
Speaker 1: And if this both, if this goes the way, you're

500
00:28:27,000 --> 00:28:29,320
Speaker 1: both saying, it's not going to be a good one

501
00:28:29,720 --> 00:28:32,600
Speaker 1: with a Democratic Party that could have taken a victory

502
00:28:32,640 --> 00:28:36,640
Speaker 1: lap after an incredibly productive first half of twenty one.

503
00:28:36,720 --> 00:28:40,160
Speaker 1: You got the American Rescue Plan, you got infrastructure, A

504
00:28:40,200 --> 00:28:45,280
Speaker 1: lot of things got done by this very thin Democratic majority.

505
00:28:45,320 --> 00:28:47,480
Speaker 1: But now it's what have you've done for me lately? Rick?

506
00:28:47,560 --> 00:28:49,520
Speaker 1: If this, if this, it doesn't come together the way

507
00:28:49,520 --> 00:28:52,760
Speaker 1: they want, If the child tax credit goes away, Democrats

508
00:28:52,840 --> 00:28:55,000
Speaker 1: losing a lot of talking points right off the bat.

509
00:28:55,040 --> 00:28:58,880
Speaker 1: Next year, they do lose talking points related to the

510
00:28:58,880 --> 00:29:01,520
Speaker 1: Bilback Better Plan. But if someone told you, in a

511
00:29:01,600 --> 00:29:05,760
Speaker 1: complete vacuum that the Biden administration got the American Rescue

512
00:29:05,760 --> 00:29:08,360
Speaker 1: Plan for one point nine trillion dollars passed the first

513
00:29:08,440 --> 00:29:11,680
Speaker 1: month that it was in office, pumping you know, trillions

514
00:29:11,680 --> 00:29:14,040
Speaker 1: of dollars into the U. S economy, and then three

515
00:29:14,080 --> 00:29:16,360
Speaker 1: months later it got the American Jobs Plan for two

516
00:29:16,400 --> 00:29:20,000
Speaker 1: point three trillion dollars to remake America's infrastructure a way

517
00:29:20,000 --> 00:29:22,440
Speaker 1: that has never been done, you would say that's enough.

518
00:29:22,480 --> 00:29:24,560
Speaker 1: For you to talk about for re election campaign in

519
00:29:25,280 --> 00:29:28,000
Speaker 1: two UH. And I would say just amend and extend

520
00:29:28,040 --> 00:29:30,400
Speaker 1: my earlier comments about like not being able to get

521
00:29:30,440 --> 00:29:34,160
Speaker 1: things done. If the pandemic continues on the pace that

522
00:29:34,240 --> 00:29:39,640
Speaker 1: it is today, which is significant, I could see one

523
00:29:39,880 --> 00:29:46,440
Speaker 1: bipartisan bill to address COVID issues UH in the next quarter.

524
00:29:47,120 --> 00:29:49,800
Speaker 1: That would be a win for this administration. So how

525
00:29:49,800 --> 00:29:52,040
Speaker 1: do you define COVID issues? Is that a stimulus you're

526
00:29:52,040 --> 00:29:54,920
Speaker 1: talking about? Uh, It could be a combination of a stimulus.

527
00:29:55,200 --> 00:29:59,800
Speaker 1: It could be a combination of increased testing UH centers

528
00:29:59,800 --> 00:30:02,560
Speaker 1: all around the country paying for those UH. Likely you

529
00:30:02,640 --> 00:30:05,200
Speaker 1: have a lot of this money available. But if you

530
00:30:05,320 --> 00:30:09,480
Speaker 1: title it uh in these areas, UH, then you're probably

531
00:30:09,480 --> 00:30:13,320
Speaker 1: gonna get support from both Republicans and Democrats and and

532
00:30:13,320 --> 00:30:16,440
Speaker 1: and nobody's gonna want in a time of need to

533
00:30:16,560 --> 00:30:20,640
Speaker 1: be obstructing that kind of a benefit package. So UH,

534
00:30:20,680 --> 00:30:22,080
Speaker 1: whether or not you can get some of these other

535
00:30:22,160 --> 00:30:26,640
Speaker 1: social benefits like UH unemployment insurance UH if jobs don't

536
00:30:26,720 --> 00:30:30,640
Speaker 1: bounce back the way they we hoped, or child tax credits,

537
00:30:30,920 --> 00:30:33,880
Speaker 1: which have been a sensitive issue. UH. My guess is

538
00:30:34,400 --> 00:30:38,040
Speaker 1: the slimmer the more likelihood UH, this administration has to

539
00:30:38,080 --> 00:30:40,160
Speaker 1: get something done. But that would be I think the

540
00:30:40,200 --> 00:30:42,280
Speaker 1: only thing that I could see happening in the first

541
00:30:42,360 --> 00:30:45,680
Speaker 1: quarter next year. COVID can cut both ways in this

542
00:30:45,760 --> 00:30:49,240
Speaker 1: election cyclogeny. When you when you go back to last summer,

543
00:30:49,320 --> 00:30:52,000
Speaker 1: it looked like a big ace in the hole here

544
00:30:52,080 --> 00:30:56,480
Speaker 1: for Joe Biden, it's feeling a lot less like that now. Uh.

545
00:30:56,720 --> 00:30:59,280
Speaker 1: Does it depend on the trajectory that the pandemic takes

546
00:30:59,400 --> 00:31:01,120
Speaker 1: in the new year or as to how we're we're

547
00:31:01,200 --> 00:31:03,880
Speaker 1: voting on this. I mean by spring in summer we

548
00:31:03,880 --> 00:31:06,720
Speaker 1: could all be getting together outdoors again, indoors, whatever, dealing

549
00:31:06,760 --> 00:31:10,000
Speaker 1: with a very different reality. That is the big issue.

550
00:31:10,080 --> 00:31:12,800
Speaker 1: That is what Joe Biden ran on. He promised he

551
00:31:12,880 --> 00:31:16,840
Speaker 1: would get it under control. His numbers looked very good

552
00:31:17,280 --> 00:31:20,360
Speaker 1: through the outbreak of Delta and of course followed by

553
00:31:20,400 --> 00:31:23,400
Speaker 1: Oh Macron, it has been very, very tough, and we've

554
00:31:23,440 --> 00:31:26,280
Speaker 1: seen his poll numbers take, you know, take a dip

555
00:31:26,360 --> 00:31:28,840
Speaker 1: as a result of his handling of that and some

556
00:31:29,000 --> 00:31:31,840
Speaker 1: of the mixed messages we've heard, whether you're talking about

557
00:31:31,960 --> 00:31:35,600
Speaker 1: something like the absence or the lack of enough testing,

558
00:31:35,840 --> 00:31:38,560
Speaker 1: availability and those kinds of things, and sort of mixed

559
00:31:38,560 --> 00:31:41,880
Speaker 1: communication on masks and other things. And of course let's

560
00:31:41,920 --> 00:31:45,480
Speaker 1: not forget you've got parents who have children who have

561
00:31:45,560 --> 00:31:48,239
Speaker 1: been in and out of school now for you know,

562
00:31:48,320 --> 00:31:51,360
Speaker 1: a couple of years. And I think, to me, we

563
00:31:51,440 --> 00:31:53,600
Speaker 1: saw this in Virginia, We're going to see it again

564
00:31:53,640 --> 00:31:57,320
Speaker 1: in the mid term. That is something that I think

565
00:31:57,360 --> 00:32:00,280
Speaker 1: the administration has got to pay real, real attack mentioned

566
00:32:00,320 --> 00:32:03,960
Speaker 1: to this issue of parents and children and schooling and

567
00:32:04,200 --> 00:32:07,480
Speaker 1: education at the state and local level, and that's where

568
00:32:07,520 --> 00:32:10,680
Speaker 1: I think we see the pandemic, amongst other issues, play

569
00:32:10,720 --> 00:32:13,960
Speaker 1: a real role hilp here. But certainly Biden has got

570
00:32:14,000 --> 00:32:17,720
Speaker 1: to got to get on top of handling the pandemic.

571
00:32:17,760 --> 00:32:20,640
Speaker 1: And I think that's why his remark the other day

572
00:32:20,720 --> 00:32:23,240
Speaker 1: about you know, the the limited role of the federal

573
00:32:23,280 --> 00:32:26,200
Speaker 1: government and handling it is something of a problem for

574
00:32:26,280 --> 00:32:28,720
Speaker 1: him because he ran saying the federal government and he

575
00:32:28,920 --> 00:32:32,720
Speaker 1: leading it could control it, and we're feeling again like

576
00:32:32,760 --> 00:32:35,640
Speaker 1: we're back to it's not controlled, and that's a problem

577
00:32:35,680 --> 00:32:41,640
Speaker 1: for him. So COVID, inflation, and whatever is left of

578
00:32:41,680 --> 00:32:45,040
Speaker 1: the Biden economic agenda, those your top three genie, those

579
00:32:45,080 --> 00:32:47,520
Speaker 1: are And I also would just add to that the

580
00:32:47,800 --> 00:32:51,040
Speaker 1: very wild weather we've seen over the last year from

581
00:32:51,080 --> 00:32:53,960
Speaker 1: the Texas deep freeze to storm eye, to tornadoes, to

582
00:32:54,000 --> 00:32:58,280
Speaker 1: the California wildfires and the relationship to climate change, and

583
00:32:58,320 --> 00:33:00,480
Speaker 1: that gets us back to the human and structure to

584
00:33:00,480 --> 00:33:04,080
Speaker 1: build back better. Those are real, real concerns and we

585
00:33:04,160 --> 00:33:06,800
Speaker 1: all feel those in our daily lives. I have to

586
00:33:06,800 --> 00:33:10,240
Speaker 1: ask you, guys both about the Trump factor. Of course, Uh,

587
00:33:10,280 --> 00:33:12,280
Speaker 1: it does seem like a sure thing now that he'll

588
00:33:12,320 --> 00:33:15,840
Speaker 1: be at least involved in this midterm cycle, if not

589
00:33:15,920 --> 00:33:19,560
Speaker 1: running for re election in twenty four and it could

590
00:33:19,600 --> 00:33:22,400
Speaker 1: be some time before we know that. But I wonder, Uh,

591
00:33:22,440 --> 00:33:26,800
Speaker 1: we've already talked about election integrity concerns that Republicans have

592
00:33:27,400 --> 00:33:29,760
Speaker 1: about the election. This could go in a lot of

593
00:33:29,760 --> 00:33:32,880
Speaker 1: different directions here, Rick, When when when former President Trump

594
00:33:32,880 --> 00:33:35,800
Speaker 1: starts doing rallies, Uh, you start hitting the podium for

595
00:33:35,840 --> 00:33:37,880
Speaker 1: an hour at a time without a script. This narrative

596
00:33:37,920 --> 00:33:40,400
Speaker 1: could change. This narrative will change. I mean, the one

597
00:33:40,440 --> 00:33:42,840
Speaker 1: thing we know about Donald Trump is he aims to

598
00:33:42,880 --> 00:33:46,360
Speaker 1: please the crowd, not necessarily the posters. And uh, and

599
00:33:46,400 --> 00:33:48,800
Speaker 1: it's worked for him in the pass at least once.

600
00:33:48,920 --> 00:33:51,720
Speaker 1: It didn't work so well last time around. And uh,

601
00:33:52,200 --> 00:33:54,400
Speaker 1: but you know that old dog's not going to change

602
00:33:54,440 --> 00:33:57,560
Speaker 1: his bark and so it'll at least add a lot

603
00:33:57,560 --> 00:34:01,320
Speaker 1: of entertainment value to the republic and primary contest. Well,

604
00:34:01,320 --> 00:34:04,480
Speaker 1: how important is his endorsement though for Republican candidates, you know,

605
00:34:04,560 --> 00:34:07,719
Speaker 1: I mean right now it's sort of to be determined.

606
00:34:07,760 --> 00:34:11,120
Speaker 1: I mean he's endorsed candidates have lost and specials uh,

607
00:34:11,160 --> 00:34:14,319
Speaker 1: and endorse some that have won. Uh. There are a

608
00:34:14,440 --> 00:34:17,160
Speaker 1: number of important races that we mentioned in the Senate

609
00:34:17,239 --> 00:34:20,239
Speaker 1: coming up that his endorseentes aren't doing so well. They're

610
00:34:20,280 --> 00:34:22,319
Speaker 1: not raising the money that they initially thought they had

611
00:34:22,360 --> 00:34:25,960
Speaker 1: in North Carolina and Alaska. We also saw in the

612
00:34:26,000 --> 00:34:29,560
Speaker 1: Virginia governor's races last year. Uh, even though he endorsed

613
00:34:29,560 --> 00:34:32,120
Speaker 1: Young and Young Can banned him from traveling anywhere near

614
00:34:32,200 --> 00:34:35,799
Speaker 1: the zip codes in Virginia and and and was able

615
00:34:35,840 --> 00:34:39,440
Speaker 1: to to make that work. So um My, my guess

616
00:34:39,480 --> 00:34:43,400
Speaker 1: is that Trump, because of his limitations and social media

617
00:34:43,400 --> 00:34:47,160
Speaker 1: and media is basically his only place to get attention

618
00:34:47,200 --> 00:34:51,719
Speaker 1: as Fox News and other fringe uh social media outlets. Uh,

619
00:34:51,760 --> 00:34:53,480
Speaker 1: he's just not going to have the kind of impact

620
00:34:53,560 --> 00:34:58,200
Speaker 1: he had before. Frankly, where network television and cable basically

621
00:34:58,280 --> 00:35:00,840
Speaker 1: broadcast anything he said, and time of day, you know,

622
00:35:00,920 --> 00:35:03,719
Speaker 1: you just I wonder if if he's a benefit to

623
00:35:03,800 --> 00:35:07,680
Speaker 1: Democrats in some cases. The genius Rick points out the

624
00:35:07,800 --> 00:35:11,120
Speaker 1: Uncan campaign didn't want Donald Trump anywhere near Virginia and

625
00:35:11,160 --> 00:35:14,560
Speaker 1: it worked. And if that's the roadmap, Boy, Democrats would

626
00:35:14,560 --> 00:35:16,359
Speaker 1: love for Donald Trump to show up in a couple

627
00:35:16,360 --> 00:35:19,440
Speaker 1: of these states, wouldn't they. They want Donald Trump in

628
00:35:19,560 --> 00:35:23,560
Speaker 1: every state and every race. Um, that is a huge

629
00:35:23,600 --> 00:35:26,680
Speaker 1: boon for them. Um, if if he's if he's active.

630
00:35:26,719 --> 00:35:29,359
Speaker 1: You know, one thing I think we should underscore about

631
00:35:29,360 --> 00:35:31,360
Speaker 1: the Younkin race was he didn't have to run in

632
00:35:31,400 --> 00:35:35,600
Speaker 1: a traditional primary. It was um, you know, that's where

633
00:35:35,640 --> 00:35:37,680
Speaker 1: the rubber is going to meet the road in terms

634
00:35:37,680 --> 00:35:41,400
Speaker 1: of Donald Trump. He you know, Youncan could run away

635
00:35:41,440 --> 00:35:43,359
Speaker 1: from him to you know, embrace him, but not get

636
00:35:43,360 --> 00:35:46,360
Speaker 1: too close because he didn't have to appeal in a

637
00:35:46,440 --> 00:35:49,680
Speaker 1: primary election. Not all Republicans are going to have that benefit.

638
00:35:49,719 --> 00:35:53,080
Speaker 1: And that's where Trump could have a real voice as

639
00:35:53,080 --> 00:35:55,640
Speaker 1: we go forward if he does. Is it a concern

640
00:35:55,680 --> 00:35:58,799
Speaker 1: that you're hearing from Republican candidates behind the scenes, Rick,

641
00:35:58,880 --> 00:36:01,880
Speaker 1: that boy, you know, and we can't say no, you

642
00:36:01,920 --> 00:36:05,080
Speaker 1: don't want him calling you out or becoming a problem.

643
00:36:05,320 --> 00:36:07,640
Speaker 1: We also don't want him stumping with us or sharing

644
00:36:07,680 --> 00:36:10,400
Speaker 1: a stage with us. Well, most of the Republicans I

645
00:36:10,440 --> 00:36:13,960
Speaker 1: know from the Trump administration, many of who are running

646
00:36:14,000 --> 00:36:16,920
Speaker 1: for present right now, desperately don't want him to enter

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Speaker 1: the political fraight. They don't mind him banging around on

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Speaker 1: the edges. That's a manageable problem for them. But last

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Speaker 1: thing they want is their ambitions to be up ended

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Speaker 1: by a guy who Uh, They're gonna have a hard

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Speaker 1: time explaining how if that was okay for them to

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Speaker 1: serve in his administration, why wouldn't they be endorsing for

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Speaker 1: another run for president. Fascinating panel with Genie and Rick

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Speaker 1: Bloomberg Politics contributors Jeannie Chanzano and Rick Davis. Thank you,

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Speaker 1: as ever for the insights here on Bloomberg Sound On