Speaker 1: Bloomberg Audio Studios, podcasts, radio news. We go to the
Speaker 1: grace of Arkansas in Frenchhill, taking out fifty nine percent.
Speaker 1: I think it is the vote against a good candidate,
Speaker 1: he joins us now in victory Frenchshill of the second
Speaker 1: Congressional district in Arkansas. Frenchchill. This nation, whatever their persuasion,
Speaker 1: yearns for the grace of Marcus Jones in French Kill.
Speaker 1: Where you have an election, you get a good result,
Speaker 1: you call up Marcus Jones, he calls you up, You
Speaker 1: say thank you, and we move on with our civics
Speaker 1: and our nation. Can we get that in a second
Speaker 1: Trump term?
Speaker 2: Morn and Paul Morning Tom. I hope so, Tom, because
Speaker 2: we won the popular vote for the first time as
Speaker 2: Republican since two thousand and four, and obviously a substantial
Speaker 2: and possibly growing electoral college victory. And if the election holds,
Speaker 2: we'll have a significant Republican majority in the Senate, and
Speaker 2: I believe we'll end up with maybe somewhere between two
Speaker 2: undred and twenty two and two hundred and twenty six
Speaker 2: seats in the House. We have turned in twenty today,
Speaker 2: so not a big majority over the two hundred and
Speaker 2: eighteen needed to control the House. But I think that
Speaker 2: sends a message let's try to work together and let's
Speaker 2: produce results for the American people. Let's not squander that
Speaker 2: popular electoral college victory and Republican majorities in the House
Speaker 2: and Senate.
Speaker 3: Congressman, what would be or what do you think the
Speaker 3: parties to do list should be at this point? Given
Speaker 3: it the Republicans now control the White House, the Senate,
Speaker 3: and potentially the House. What would to do to the
Speaker 3: switch it to look like?
Speaker 2: You know, there's so much undone Paul, This isn't where
Speaker 2: I would start, but I think it's essential politically, and
Speaker 2: that's that we need to have legislated solutions that both
Speaker 2: parties can vote for that will secure the border and
Speaker 2: reform our immigration system. We keep walking up to the
Speaker 2: edge of doing it, but not doing it. So I
Speaker 2: think that could be important in that maybe we could
Speaker 2: perform the green card system. We could have encouragement for
Speaker 2: people who want to move here and start a business.
Speaker 2: We could take care of the many, many people in
Speaker 2: this country legally awaiting a green card who've been here
Speaker 2: for years to work. Anyway, you get my point. I
Speaker 2: think that's an issue that's easily skipped over the important
Speaker 2: issues for the Trump administration going into its first one
Speaker 2: hundred days, besides confirming their leaders are using budget reconciliation
Speaker 2: to try to continue to bring federal spending down from
Speaker 2: the pandemic avalanche of spending, and pick and choose among
Speaker 2: the tax cuts that are expiring in twenty twenty five
Speaker 2: as to what to keep, and then finally work together
Speaker 2: with recent Supreme Court cases that have limited federal agency
Speaker 2: discretion under the so called Chevron deference to get in
Speaker 2: Congress working on a regulatory budget a regulatory agenda.
Speaker 1: Part of the French Shill charm is you had to
Speaker 1: meet a payroll. You ran a bank in Arkansas or
Speaker 1: two or three, I can't remember the details. French shill.
Speaker 1: We've got a banking industry in America in a jump condition.
Speaker 1: JP Morgan is up three standard deviations, up twenty dollars
Speaker 1: off of trend. Few others, the more brokerage type, you know,
Speaker 1: banking type, Gold and Sachs, Morgan, Stanley Paul doing just
Speaker 1: as well. But you know, I guess that's good for America.
Speaker 1: Are you going to see frendshill here? How can we
Speaker 1: get more growthiness with our debt and deficit off of
Speaker 1: a run rate at two point eight percent, Do we
Speaker 1: really want a boom economy?
Speaker 2: French Shill, I think we want a sustainable fiscal situation
Speaker 2: tom and we don't have that running of six or
Speaker 2: seven percent deficit the g on an annual basis. That's
Speaker 2: just not sustainable and we need to have some consensus
Speaker 2: and it's going to take by partisan leadership to do that.
Speaker 2: I hope President Trump will set that tone. Neither Vice
Speaker 2: President Harris nor former President Trump when they were campaigning,
Speaker 2: talk much about the budget deficit, in fact, maybe the opposite.
Speaker 2: And I think that's important to set that standard. It
Speaker 2: doesn't have to try to go immediately to balance, but
Speaker 2: it's can we put our current financing needs of the
Speaker 2: country on a more sustainable footing? And I think that's
Speaker 2: true in the regulatory budget as well. I think that
Speaker 2: will be positive for economic growth and for a healthy
Speaker 2: financial system.
Speaker 3: And French, I mean, I think a lot of people.
Speaker 3: You know, the polls show that the American people want
Speaker 3: Congress to deal with the deficits and the national debt,
Speaker 3: but the political will just has never seem to be there.
Speaker 3: What's needed to shift that narrative. Do you think, well,
Speaker 3: it's such.
Speaker 2: A good point. You know, the House Budget Committee last
Speaker 2: year Republicans control the House, but it voted thirty to zero,
Speaker 2: so it had all the Democrats and all the Republicans
Speaker 2: voting on the idea of a debt commission. I'm not
Speaker 2: sure that's the right approach because I think it's too broad.
Speaker 2: I would really propose that we tackle something like social
Speaker 2: security reform for the out years to assure seniors in
Speaker 2: the out years that they'll be a solid social security system,
Speaker 2: and do what Reagan and Tip O'Neil did. Tip O'Neil
Speaker 2: was the Democratic Speaker in the early eighties, Reagan in
Speaker 2: his first term. They appointed Alan Greenspan to chair a
Speaker 2: commission with an up or down vote in Congress, like
Speaker 2: the Base Closing Commission of the late eighties. Here's some reforms,
Speaker 2: here's the way to make social security sustainable. And if
Speaker 2: we tackle it like that, that puts us on a
Speaker 2: more sustainable financial footing, assure seniors in the futures about
Speaker 2: the value and capabilities of social security. And I would
Speaker 2: remind people, no one lost their election in nineteen eighty
Speaker 2: four when they voted for that. In fact Reagan got
Speaker 2: a landslide Frenchill.
Speaker 1: Last night, the FAM was gathered around watching the broadcast.
Speaker 1: We were chowing down the Tyson razorback nuggets. I mean,
Speaker 1: they were going down like nothing. A congressman in one
Speaker 1: of the cherubs said, how I told him that Frenchhill
Speaker 1: would be on the show, very excited about it. And
Speaker 1: they said, how did Bill Clinton get elected governor in Arkansas?
Speaker 1: How did Bill Clinton at thirty two years old Frenchhill
Speaker 1: grabbed sixty three percent of the vote in republican conservative Arkansas?
Speaker 1: How did that happen?
Speaker 2: Well back when he did that, it was democratically conservative Arkansas.
Speaker 2: It was a super majority of the legislature. County judges,
Speaker 2: elected officials were all Democrats in the seventies and early eighties,
Speaker 2: but they were centrists, what you might call blue dog Democrats.
Speaker 2: And Clinton put himself at the front of their parade
Speaker 2: of a forward looking, pro growth blue dog.
Speaker 1: Can the Democrats your opponent? Can they get back to
Speaker 1: a blue dog attitude?
Speaker 2: They could, but they haven't so far. I mean, I
Speaker 2: see this every year for the decade I've served in
Speaker 2: the House. They doubled down on what I call a
Speaker 2: center left progressivism that you find maybe in Brooklyn, but
Speaker 2: you don't find in Conway, Arkansas. And they try to
Speaker 2: run on it and it hadn't worked for them yet.
Speaker 1: I mean, I'm looking here at what's going on, and
Speaker 1: you know, Paul, I think the Razorbacks sort of, you know,
Speaker 1: they sort of have a buy here, like you know,
Speaker 1: raising eleventh in the SEC. It's tough, they need more.
Speaker 2: I mean, the team to watch is Vanderbilt. The last
Speaker 2: time Vanderbilt beat Alabama was an eighty four. You got
Speaker 2: a Reagan landslide. Vanderbilt beat Alabama last year for the
Speaker 2: first time in four decades, and we get this popular
Speaker 2: vote at electoral college vote for Trump. It's too much.
Speaker 1: Take a note in the Is anybody awake in the
Speaker 1: control room? Next time? Friendshill, we got to get Damien
Speaker 1: Sasauran to have a Vanderbilt moment. Congressman, thank you so much.
Speaker 1: Congratulations to your party for a stunning election victory. It
Speaker 1: seems across America