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Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. Good morning, I'm Nathan

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Speaker 1: Hager and I'm Karen Moscow. Here are the stories we're

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Speaker 1: following today.

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Speaker 2: Karen, it is the morning after the election, and Donald

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Speaker 2: Trump has pulled off one of the most stunning political

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Speaker 2: comebacks in American history. The former president is now president

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Speaker 2: elect once again, winning the White House, claiming two hundred

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Speaker 2: and seventy seven Electro College votes so far to Kamala

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Speaker 2: Harris's two hundred and twenty four. Donald Trump appeared before

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Speaker 2: his supporters in West Palm Beach, Florida, early this morning

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Speaker 2: after the network's called the blue Wall state of Pennsylvania

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Speaker 2: in his favor.

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Speaker 3: I want to thank the American people for the extraordinary

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Speaker 3: honor of being elected your forty seventh president and your

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Speaker 3: forty fifth president.

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Speaker 2: Donald Trump is projected to win Pennsylvania and Wisconsin. He

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Speaker 2: is also ahead in Michigan and now promising to bring

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Speaker 2: the country together.

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Speaker 1: We're going to help our country, hel who can help

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Speaker 1: our country. Here.

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Speaker 2: We have a country that these help and did these

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Speaker 2: help very badly? And Trump is pledging to get tough

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Speaker 2: on an issue that he emphasized throughout his campaign. Immigration.

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Speaker 4: We're going to fix our borders. We're going to fix

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Speaker 4: everything about our country.

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Speaker 1: And we've made history for a reason tonight, and the

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Speaker 1: reason is going to be just.

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Speaker 2: That President elect Donald Trump is declaring it a magnificent

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Speaker 2: victory for the American people.

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Speaker 1: Well Nathan, joining Trump on stage in West Palm Beach

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Speaker 1: to celebrate his running mate JD. Vance.

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Speaker 5: Well, mister President, I appreciate you allowing me to join

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Speaker 5: you on this incredible journey. I thank you for the

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Speaker 5: trust that you have placed in me, and I think

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Speaker 5: that we just witnessed the greatest political comeback in the

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Speaker 5: history of the United States of America.

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Speaker 1: The forty year old JD. Vance is poised to become

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Speaker 1: the third youngest vice president in history.

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Speaker 2: And Karen we have yet to hear from Kamala Harris.

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Speaker 2: The Vice president, watched the results roll in from her

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Speaker 2: alma mater, Howard University in Washington. We do expect her

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Speaker 2: to make remarks later this morning. Along with the electoral

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Speaker 2: College count, Donald Trump leads in the popular vote as well,

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Speaker 2: with nearly seventy two million votes to Kamala Harris's sixty

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Speaker 2: six point seven million.

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Speaker 1: Well, Nathan, we have plenty of reaction to Donald Trump's

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Speaker 1: win this morning. His victory is his story. He'll be

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Speaker 1: the first former president to return to power since eighteen

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Speaker 1: ninety two. Began more with Bloomberg political contributor Jeanie Zeno.

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Speaker 6: In the aftermath, a lot of questions are going to

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Speaker 6: be asked, including why didn't she choose the very popular

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Speaker 6: governor of Pennsylvania's her running mate? Why did she go

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Speaker 6: instead with the governor of Minnesota.

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Speaker 1: Bloomberg political contributor Jeanie Zeno's says that seventy eight, Trump

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Speaker 1: would be the oldest person elected to the office.

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Speaker 2: Well, Karen, let's move past the president's race for just

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Speaker 2: a moment. We'll get you caught up on some other

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Speaker 2: key election results as well. Republicans have secured control of

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Speaker 2: the Senate with fifty one seats. At least, control of

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Speaker 2: the upper chamber of Congress is in Republican hands for

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Speaker 2: the first time in four years. In Ohio, the seat

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Speaker 2: held by Democrat and Senate Banking chairman Shared Brown flipped

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Speaker 2: to Republican Bernie Moreno, who secured fifty point two percent

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Speaker 2: of the vote. Shared Brown conceded defeat after finishing with

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Speaker 2: forty six percent of the tally. Tonight, I'm sad, but

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Speaker 2: I'm never giving up, and neither is Connie.

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Speaker 7: No way, in the light of day, I know most of.

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Speaker 4: You are never giving up either.

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Speaker 2: Meantime, in West Virginia, Jim Justice, the former Republican governor,

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Speaker 2: won Joe Manchins open Senate seat. He defeated Democrat Glenn

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Speaker 2: Elliott eight point nine percent to twenty seven point six percent.

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Speaker 2: Republican deb Fisher in Nebraska overcame a tough challenge from

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Speaker 2: Democrat Dan Osborne. She won fifty three percent to forty

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Speaker 2: six percent. Those three races did secure the GOP Senate majority.

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Speaker 2: Other notable contests were decided in Republicans favor. In Texas,

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Speaker 2: Ted Cruze fended off Democrat Colin Allred, winning fifty three

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Speaker 2: percent to forty four percent. Republican Pete Ricketts of Nebraska

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Speaker 2: defeated Democrat Preston Love sixty three to thirty seven percent.

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Speaker 2: Florida Republican Rick Scott won his race over Democrat Debbie

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Speaker 2: Mcersle Powell fifty five to forty two percent. In Pennsylvania,

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Speaker 2: Republican Dave McCormick is looking to unseat Democrat Bob Casey.

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Speaker 2: McCormick is ahead, but he's stopping short of declaring victory.

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Speaker 2: In the coming days, the election results will be finalized,

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Speaker 2: and when they are we will look forward to a

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Speaker 2: new agenda. Dave McCormick leads that Senate race in Pennsylvania

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Speaker 2: forty nine to forty eight percent with ninety six percent

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Speaker 2: of the votes counted, and Republican Tim Sheehey is trying

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Speaker 2: to flip Democrat John Tester's seat in Montana seventy seven

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Speaker 2: percent of the votes counted there and she he currently

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Speaker 2: leads fifty three to forty four percent.

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Speaker 1: Still, Nathan Democrats did secure some victories in the upper

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Speaker 1: chamber of Congress. California Democrat Adam Schiff defeated republic In

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Speaker 1: Steve Garvey with fifty eight percent of the vote. New

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Speaker 1: York Democrat Kirsten Gillibrand was re elected defeated GOP challenger

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Speaker 1: Michael Sapracne fifty eight to forty one percent. Massachusetts Democrat

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Speaker 1: Elizabeth Warren one a third term as Senator, a cruising

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Speaker 1: to victory over John Deaton with sixty percent of the vote,

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Speaker 1: and Democrats are closely following Reuben Diego's race in Arizona.

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Speaker 1: The Democrat leads Republican carry Lake fifty to forty seven percent,

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Speaker 1: but just about sixty percent of the vote counted. And

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Speaker 1: there were two other historic wins in the Senate for Democrats.

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Speaker 1: Lisa Blunt Rochester won a seat in Delaware over Republican

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Speaker 1: Eric Hanson, garnering fifty six percent of the vote, and

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Speaker 1: Angela also Brooks a Maryland, defeated former Republican Governor Larry

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Speaker 1: Hogan fifty two to forty five percent. Their victories will

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Speaker 1: mark the first time two black women will serve together

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Speaker 1: in the Senate.

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Speaker 2: Okay, Karen, Let's take a look at results for the

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Speaker 2: US House. Now, Democrats need a net gain of four

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Speaker 2: seats to take control and fend off a Republican sweep.

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Speaker 2: There are still uncalled races, but right now GOP he

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Speaker 2: holds a lead one ninety six to one seventy nine.

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Speaker 2: Democrats picked up a seat in Alabama's newly drawn second district.

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Speaker 2: Chamari Figures defeated GOPA challenger Caroline Dobson fifty four to

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Speaker 2: forty five percent. In Louisiana, Democrat Troy Carter defeated multiple

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Speaker 2: Republican challengers with sixty percent of the vote. Democrats also

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Speaker 2: won illinois seventeenth district this morning, Eric Sorenson defeated Republican

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Speaker 2: Joe McGrath fifty three to forty six percent. Democrats are

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Speaker 2: also looking to flip Iowa's District one seat. GOP incumbent

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Speaker 2: Marionette Miller Meeks and Democrat Christina Bohannon are tied at

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Speaker 2: fifty percent apiece with ninety seven percent of votes counted.

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Speaker 2: Republicans are performing well in Midwest states. In Michigan's seventh District,

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Speaker 2: the GOP's Tom Barrett flipped the seat. He defeated Democrat

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Speaker 2: Curtis Hurdle with fifty percent of the vote. In Pennsylvania's

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Speaker 2: eighth district, Republican Robert Bresnahan defeated incumbent or I'm Sorry

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Speaker 2: Leeds incumbon Democrat Matt Cartwright with fifty one percent of

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Speaker 2: the vote. That race stoked too close to call. In

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Speaker 2: pennce vania seventh district, incumbent Democrat Susan Wilde trails Republican

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Speaker 2: challenger Ryan Mackenzie. That's a tight race as well, currently

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Speaker 2: at fifty point seven percent to forty nine point three.

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Speaker 2: And in Pennsylvania's tenth district, GOP incumbent Scott Perry's holding

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Speaker 2: onto a tight lead over Democratic challenger den Janelle Stelson.

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Speaker 2: Ninety eight percent of the votes are counted there and

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Speaker 2: that race is at fifty point eight to forty nine

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Speaker 2: point two percent. In North Carolina, Democrat Don Davis leads

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Speaker 2: Republican Laurie Buckout for the state's first district of forty

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Speaker 2: nine and a half percent of the vote. In Virginia,

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Speaker 2: Eugene Vinman is looking to replace fellow Democrat Abigail Spanberger,

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Speaker 2: who is not running for reelection. Vinman leads the GOP's

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Speaker 2: Derek Anderson fifty one to forty nine percent with ninety

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Speaker 2: nine percent of votes counted, and two incumbents are fighting

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Speaker 2: to hold on two seats in tight races Elsewhere, Nebraska,

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Speaker 2: Republican Don Bacon leads Democrat Tony Vargas fifty one point

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Speaker 2: two to forty eight point eight percent, and Democrat Jared

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Speaker 2: Golden of Maine is up fifty point eight to forty

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Speaker 2: eight point nine percent over Republican Austin Terio.

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Speaker 1: Another high profile House wins Nathan include House Speaker Mike Johnson.

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Speaker 1: He defeated GOPA challenger Joshua Morid with a whopping eighty

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Speaker 1: five percent of the vote. Texas Democrat Henry Quayard defeated

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Speaker 1: Republican Jay Furman fifty two to forty seven percent. Former

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Speaker 1: Democratic House Speaker Nancy Pelosi crushed Republican Bruce lou with

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Speaker 1: eighty percent of the vote. And in Delaware, Democrat Sarah

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Speaker 1: McBride be GOPA challenger John Wayland fifty seven to forty

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Speaker 1: two percent in Delaware's sole congressional district, becoming the first

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Speaker 1: openly transgender member of Congress.

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Speaker 2: Well Care in the battle for the House could ultimately

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Speaker 2: come down to tight races in California, and they might

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Speaker 2: not be decided until next week due to absentee ballot rules.

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Speaker 2: Notable races there include Republican Mike Garcia. He's in a

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Speaker 2: tough contest with Democrat George Whitesides in California's twenty seventh district.

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Speaker 2: Garcia leads fifty one point one percent to forty eight

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Speaker 2: point nine percent. Incumbent Democrat Dave Minn trails the GOP

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Speaker 2: Scott Bough fifty point six to forty nine point four percent.

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Speaker 2: In California's forty seveneventh district, Will Rawlins is looking to

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Speaker 2: unseat longtime Republican Ken Calvert of the forty first district.

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Speaker 2: Rawlins leads the GOP candidate fifty point three to forty

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Speaker 2: nine point seven percent. Sixty five percent of the votes

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Speaker 2: are counted there, and Republican John Duarte is in a

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Speaker 2: rematch with Democrat Adam Gray. In the thirteenth California District.

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Speaker 2: The GOP incumbent currently leads fifty one to forty nine

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Speaker 2: percent with about half of votes counted.

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Speaker 1: All Right, Nathan. There were also some ballot measures up

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Speaker 1: for a vote in states last night, from decisions on

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Speaker 1: abortion restrictions to legalizing marijuana. Bloomberg's Michael Barr joins US

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Speaker 1: now with a detail smuglecon morning.

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Speaker 7: Good Morning Karen. Several states had pro abortion rights items

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Speaker 7: on the ballot. In Florida, an abortion ban after six

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Speaker 7: weeks remains in effect. A right to an abortion failed. Arizona.

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Speaker 7: Voters said he asked on abortion right sixty three percent

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Speaker 7: to thirty seven percent. In Montana, they approved an abortion

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Speaker 7: rights amendment to the state's constitution. Missouri voters said he

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Speaker 7: asked to abortion right fifty two percent to forty eight percent,

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Speaker 7: changing from a total ban. Voters in Nebraska had competing

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Speaker 7: abortion amendments. Voters agreed to keep a twelve week abortion

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Speaker 7: ban in effect fifty five percent to forty five percent.

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Speaker 7: South Dakota voted against Abortion Right sixty one percent to

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Speaker 7: thirty nine percent, keeping a total abortion ban. Colorado voted

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Speaker 7: for Abortion Right sixty one percent to thirty nine percent.

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Speaker 7: Nevada voted for abortion rights. The current law is a

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Speaker 7: twenty four week ban. Maryland voted for reproductive freedom seventy

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Speaker 7: four percent to twenty six percent. New Yorker has passed

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Speaker 7: an amendment to bar discrimination on the basis of pregnancy outcomes.

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Speaker 7: It passed sixty two percent to thirty eight percent. Increases

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Speaker 7: to the minimum wage are on the ballot in several states.

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Speaker 7: In California, an increase the minimum wage from sixteen dollars

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Speaker 7: to eighteen dollars fifty four percent. In Noah's ahead fifty

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Speaker 7: two percent to forty eight percent. Massachusetts rejected a minimum

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Speaker 7: wage hike from fifteen dollars an hour. The vote is

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Speaker 7: sixty four percent against to thirty sixty four. Several states

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Speaker 7: considered whether to legalize marijuana. Florida said no. South Dakota

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Speaker 7: is on a path to legalize pot with eighty percent

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Speaker 7: of the vote. In it's leading fifty seven percent to

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Speaker 7: forty three percent. North Dakota, it looks like pott will

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Speaker 7: be legal fifty three percent to forty seven percent. Voters

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Speaker 7: in Nebraska approved medicinal marijuana seventy one percent to twenty

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Speaker 7: nine percent. New York had five other ballot proposals. Proposal

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Speaker 7: two allows the Sanitation Department increased authority to keep all

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Speaker 7: city property clean. It's up sixty two percent to thirty

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Speaker 7: eight percent. Ballot proposal three requiring a fiscal analysis seventy

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Speaker 7: percent in up fifty six percent to forty four percent.

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Speaker 7: Ballot Proposal four calls for more notice before votes on

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Speaker 7: public safety legislation. It's up fifty seven percent to forty

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Speaker 7: three percent. Ballot Proposal five capital planning, up fifty eight

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Speaker 7: percent to forty two percent. And ballot Proposal six, it

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Speaker 7: would create a new role to support minority and women

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Speaker 7: own business enterprise. It's up fifty three percent to forty

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Speaker 7: seven percent. That's a look at the results on ballot

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Speaker 7: measures this morning in New York. I'm Michael Barr Bloomberg Radio.

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Speaker 2: Appreciate that, Michael, Thank you, Donald Trump. The forty fifth

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Speaker 2: president of the United States is now projected to become

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Speaker 2: the forty seventh president of the United States, currently with

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Speaker 2: an electoral College vote count of two seventy seven. Let's

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Speaker 2: get more analysis. We are joined by two key members

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Speaker 2: of our Bloomberg Politics team, Bloomberg News Managing editor Derek

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Speaker 2: Wallbank and our senior editor Bill Ferries. Gentlemen, Good morning, Derek.

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Speaker 2: We knew the battleground states were going to be tight.

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Speaker 2: The polls showed it, the results show it as well.

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Speaker 2: I think maybe the one thing that wasn't predicted was

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Speaker 2: just how quickly this result would be declared.

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Speaker 4: Good morning, Good morning, Nat. And yes it has all

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Speaker 4: if you sort of figure it was a bit on

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Speaker 4: a knife edge in terms of all of the polling,

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Speaker 4: and he said, well, each of these individuals swing states

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Speaker 4: could go one way or the other. Now they're not

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Speaker 4: all called, but it looks like pretty much everything has

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Speaker 4: gone in Trump's direction. I think particularly one of the

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Speaker 4: things you and I were talking about in conversations leading

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Speaker 4: up to election day was what was going to happen

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Speaker 4: with Donald Trump's pulling in rural voters and turning them

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Speaker 4: out at levels Democrats were surprised by up against maybe

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Speaker 4: a gender gap advantage for Harris. Well, it turned out

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Speaker 4: that there was a gender advantage gap for Trump. He

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Speaker 4: really was successful in turning out male voters who had

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Speaker 4: not gone for Republicans quite so much, and Harris did

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Speaker 4: not make similar inroads among female voters. And indeed, if

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Speaker 4: you look across the US, this is not really a

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Speaker 4: situation other than about Metro Atlanta where you can say

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Speaker 4: that there was anything other than a uniform swing. It

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Speaker 4: was a pretty uniform swing towards Donald Trump across the nation.

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Speaker 2: Interesting as well, built to see that uniform swing in

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Speaker 2: not just the rural vote, but in the gender gap vote.

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Speaker 2: When for the most part, we saw a number of

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Speaker 2: abortion ballot measures go to pro abortion rights victories that

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Speaker 2: did not seem to be enough to give Kamala Harris

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Speaker 2: a wave.

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Speaker 3: Right, there was a bet by Democrats, including you know,

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Speaker 3: petitioning to have some of these measures put on the

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Speaker 3: ballots in different states as a way of juicing turnout

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Speaker 3: and helping Harris. But we are seeing quite a bit,

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Speaker 3: you know, you're seeing quite a bit of tickets splitting

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Speaker 3: in the breakdown of how people are voting, So you know,

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Speaker 3: people may have voted for Donald Trump but also voted

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Speaker 3: for abortion rights at the same time, like they were

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Speaker 3: able to sort of of keep those two things together.

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Speaker 3: So very interesting to see that. You know, I think,

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Speaker 3: as as Derek was saying, kind of across the board,

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Speaker 3: you see you see Trump overperforming across demographic groups pretty

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Speaker 3: much across almost you know, sort of every group you

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Speaker 3: can think of, and Harris underperforming. So, you know, we

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Speaker 3: spent this, we spent this sort of election eve watching

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Speaker 3: you know, nuggets of good news come in for the

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Speaker 3: Trump campaign and not really seeing any breaks at all

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Speaker 3: for the Harris campaign. And you know you're seeing that

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Speaker 3: now in the popular vote total, and and what's turning

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Speaker 3: out to be, you know, a pretty impressive showing by

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Speaker 3: the Trump campaign across that vaunted blue wall that the

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Speaker 3: Harris campaign said was their last firewall.

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Speaker 2: On that blue wall. Derek, how do you account for

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Speaker 2: the over performance by former President Trump? Is there gonna

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Speaker 2: be some soul searching on the Democratic side about whether

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Speaker 2: they should have I've ushered President Biden out of the

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Speaker 2: race in states that he did quite a bit better

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Speaker 2: in four years ago.

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Speaker 4: Well, Nathan, I think there's going to be a lot

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Speaker 4: of soul searching from Democrats. And indeed, I don't think

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Speaker 4: that you take an election like this and it's still

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Speaker 4: it was. It was narrow in terms of the popular vote,

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Speaker 4: but it was wide enough. I don't take think that

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Speaker 4: you take a loss like this and not look really

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Speaker 4: deep in and sort of figure things out. You know,

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Speaker 4: sometimes in a very close race, you can say any

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Speaker 4: one thing might have made the difference. In a very

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Speaker 4: wide race, you really do have to look back and say, Okay,

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Speaker 4: what were the sort of national trends, what were the

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Speaker 4: things people were feeling. I mean, look, there's been a

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Speaker 4: big disconnect and you look about look at this blue

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Speaker 4: wall states, especially right states. I know very very well.

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Speaker 4: You're looking at these these issues like the economy and

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Speaker 4: for all of the things that people might say that

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Speaker 4: are positive science. If you're looking at the idea of

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Speaker 4: I want to get a house, I want to have kids,

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Speaker 4: and I might have to pay for daycare, I want

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Speaker 4: to save for those kids college, and I got to

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Speaker 4: pay for healthcare. All of those things are very expensive

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Speaker 4: compared to where they were twenty thirty years ago. And

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Speaker 4: so you have all of these voters who are coming

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Speaker 4: into the economy over the last you know, the last

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Speaker 4: little while, last twenty thirty years, who are saying I

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Speaker 4: don't really feel like I've got as good a shot

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Speaker 4: to hit that American dream as my parents did. And

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Speaker 4: that's a very profound thing to think, right And so

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Speaker 4: as much as much as we can talk about stock

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Speaker 4: markets doing this, how's the US dollar against you know,

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Speaker 4: various other currencies, at the end of the day, there

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Speaker 4: really is a simple question of do you feel better

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Speaker 4: now than you did four years ago? And whatever people

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Speaker 4: want to say, Voters in a lot of these swing

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Speaker 4: states really did come out and say not.

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Speaker 1: Not.

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Speaker 2: Really, trade is very important in these blue wall states bill,

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Speaker 2: so is immigration. We've heard former President Trump promise huge

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Speaker 2: tax cuts, tariffs on the rest of the world, and

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Speaker 2: a massive deportation if he returns to the White House.

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Speaker 2: In our last minute bill, what do you see Trump

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Speaker 2: two point zero actually pulling forward.

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Speaker 3: Yeah, I think he's going to use that thread of

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Speaker 3: tariffs as leverage against a lot of countries, rivals and

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Speaker 3: allies as well. So I don't know that we get

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Speaker 3: a flat, flat tariff across on all imports, but I

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Speaker 3: think he's going to try to use that as a

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Speaker 3: wedge against other countries to try to get them to

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Speaker 3: buy more American goods or to to to compete more

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Speaker 3: favorably on trade. I think, uh, you know, on immigration,

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Speaker 3: I think the focus is going to be on looking

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Speaker 3: at people who have criminal records and trying to deport them.

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Speaker 7: First.

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Speaker 3: I don't think there's gonna be an effort to deport

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Speaker 3: thirteen million people, but I think he's going to start

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Speaker 3: making progress on some of that agenda he promised.

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