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Speaker 1: Of course a bank.

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Speaker 2: Thank you to Governor Glenunkan for spending his morning with Bloomberg.

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Speaker 3: Good morning, It's great to be with you.

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Speaker 4: And I have to say on December the eleventh, as

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Speaker 4: we had through a busy holiday season, we're hoping that

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Speaker 4: people are shopping.

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Speaker 3: We're hoping the economy is roaring in Virginia a place

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Speaker 3: better to be than Bloomberg.

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Speaker 1: Excellent.

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Speaker 2: Well, I want to start with the most pressing issues

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Speaker 2: facing Virginians.

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Speaker 1: You're just off the heel of this election.

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Speaker 2: The Democratic Party now has controlled the General Assembly. You're

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Speaker 2: gearing up for a trickier budget fight now, and you

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Speaker 2: recently talked about one of your main concerns going into

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Speaker 2: all this is the cost of living in Virginia.

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Speaker 1: You're talking about shopping.

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Speaker 2: So how are you thinking about addressing these critical economic

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Speaker 2: concerns for Virginians in this dividing government.

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Speaker 4: So we've had divided government in Virginia the last two years.

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Speaker 4: It's a little bit more divided now than it was.

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Speaker 4: And I look back on the elections in November and

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Speaker 4: they were incredibly tight.

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Speaker 3: We knew it going in.

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Speaker 4: There had been redistricting, and the redistricting had worked a

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Speaker 4: little bit again against us, and these races were divided

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Speaker 4: by hundreds and five hundreds votes. And so we go

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Speaker 4: in one seat down in our House. We picked up

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Speaker 4: a seat in our Senate, but we're still one seat

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Speaker 4: down in our Senate. And it's going to be the

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Speaker 4: very same kind of work that we did over the

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Speaker 4: last two years, which is, how do we bring people

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Speaker 4: together around common sense solutions to pressing issues. And we

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Speaker 4: know the most pressing issues today are ones of economic

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Speaker 4: confidence and really the challenges of rising cost of living.

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Speaker 4: And it's just clear over the course of now the

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Speaker 4: last three years of the Biden economy, we have seen

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Speaker 4: inflation really run away from a lot of folks, and

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Speaker 4: sixty percent of Americans or living paycheck to paycheck, and

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Speaker 4: I hear it. I traveled around a lot in Virginia.

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Speaker 4: It's one of my big commitments is to get out

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Speaker 4: of Richmond. And what I constantly hear are concerns about

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Speaker 4: the cost of living and is my job safe? And

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Speaker 4: so we are moving into this legislative cycle trying to advance,

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Speaker 4: and I believe we will the exact same formulas that

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Speaker 4: we brought when we first came in, which is, how

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Speaker 4: do we take Virginia, which was coming out of the

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Speaker 4: pandemic when I was elected in twenty twenty one and

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Speaker 4: took office in twenty twenty two, bottom third in the

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Speaker 4: nation in job growth, with real concerns with population outmigration,

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Speaker 4: where for nine straight years more people had moved away

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Speaker 4: to the other forty nine states than to Virginia. And

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Speaker 4: how do we turn that so that Virginia can be

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Speaker 4: one of the winning states as opposed to one of

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Speaker 4: the losing states. And there's a clear reality that there

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Speaker 4: are states around the nation that are winning and there

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Speaker 4: are states that are losing. And the states that are

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Speaker 4: winning have very clear similar policies of lower taxes and

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Speaker 4: streamlined regulations for pro business environments, right to work, and

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Speaker 4: a real recognition that we have to create opportunity so

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Speaker 4: that Virginians in this case can full participate. Those are

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Speaker 4: the things that we're going to progress to continue to

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Speaker 4: work to bring down the cost of living with I

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Speaker 4: think some really innovative ways to bring taxes down. I

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Speaker 4: think we're going to work hard to make sure that

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Speaker 4: we bring up workforce participation even further. We've just hit

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Speaker 4: a twelve year high and workforce participation, but we know

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Speaker 4: we need more Virginians working, and so that's why last

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Speaker 4: week we rolled out I think a very important initiative

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Speaker 4: on childcare in order to provide working families confidence that

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Speaker 4: they can have safe and.

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Speaker 3: Reliable childcare for their kids.

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Speaker 4: When we speak to women and we see survey after survey,

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Speaker 4: one of the top issues in whether they've come back

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Speaker 4: to work or not coming out.

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Speaker 3: Of the pandemic is reliable childcare.

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Speaker 4: And so I'm very excited about our Building Blocks for

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Speaker 4: Virginia program, which is really going to work to increase

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Speaker 4: the opportunity for Virginias to find childcare alternatives. All of

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Speaker 4: this translates into just a recognition that we're competing every day.

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Speaker 4: We're competing for jobs, we're competing for people, and we're

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Speaker 4: competing for opportunity. And the last two years, I think

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Speaker 4: we've demonstrated we compete well. We have two hundred and

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Speaker 4: thirty thousand more people working today than when we started.

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Speaker 4: We started bottom third of job growth, and over the

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Speaker 4: last twenty two months we've moved to number three in.

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Speaker 3: The nation and job growth. We can do this. We

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Speaker 3: just have to continue to do the things that we've

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Speaker 3: been doing.

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Speaker 2: You also have a very low unemployment rate in Virginia

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Speaker 2: two point eight percent. Last week's jobs report was three

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Speaker 2: point seven percent nationally. So we have a very good

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Speaker 2: job market in the United States. You met with business

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Speaker 2: leaders recently, and you came out of that meeting saying

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Speaker 2: they see a mild recession ahead. How can we have

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Speaker 2: a mild recession with this kind of labor market.

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Speaker 4: Well, first of all, it's because we don't have one

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Speaker 4: economy in the United States.

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Speaker 3: We really have two.

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Speaker 4: We have economy of winners and an economy, unfortunately of losers.

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Speaker 4: And like all businesses, and when I was in the

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Speaker 4: business world for thirty years, if you had multiple outlets

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Speaker 4: for a retailer, you would have some of your outlets

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Speaker 4: that were doing really well and some of them weren't.

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Speaker 4: Weren't that weren't doing very well, and yet the aggregate

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Speaker 4: of that represents your performance. Well, the United States is

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Speaker 4: the exact same, and we have many states that are

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Speaker 4: doing very well in other states that are doing poorly.

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Speaker 4: And the reality, of course is that, as I said earlier,

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Speaker 4: it is the policies that are driving this.

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Speaker 3: Let me just give you an example.

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Speaker 4: Over the last four years, since before the pandemic, there's

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Speaker 4: been about two and a half million jobs created in

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Speaker 4: America up and up through October ten states ten states

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Speaker 4: account for three million of those two and a half

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Speaker 4: million jobs, and ten other states have lost a million

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Speaker 4: jobs during that time period. And by the way, the

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Speaker 4: winning states are the bigger states like Florida and Texas.

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Speaker 4: Virginia has added, as I said, two hundred and thirty

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Speaker 4: thousand jobs since I came in. And the states that

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Speaker 4: have been losing jobs truly are the ones that we

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Speaker 4: tear about all the time. California, Illinois, New York. I mean,

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Speaker 4: they've had negative job growth since before the pandemic. This

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Speaker 4: is just a stark reality of the tale of two

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Speaker 4: Cities of the American economy. And so there are parts

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Speaker 4: of our American economy that are already in recession. The

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Speaker 4: develop the real estate development side of things is already

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Speaker 4: in recession.

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Speaker 3: We've seen it pull back materially.

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Speaker 4: And so these fears of recession I think are well grounded,

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Speaker 4: and I believe that there's real risk next year in

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Speaker 4: a recession. We have a strong job market across many

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Speaker 4: of these states, really led by Republicans. The top ten

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Speaker 4: states and unemployment are led by Republicans, and By the way,

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Speaker 4: the bottom ten states, nine out of the ten of them.

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Speaker 3: Are led by Democrats. I mean, this is just real.

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Speaker 4: But I think our next year or two of national

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Speaker 4: economic opportunity is going to be defined by a lot

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Speaker 4: of these most important issues.

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Speaker 3: One, what's happening internationally.

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Speaker 4: And I think we have got more black Swan risk

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Speaker 4: internationally than we've seen in.

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Speaker 3: A long time. A war in Israel, a war in.

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Speaker 4: Ukraine, staber rattling like we have never seen with China

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Speaker 4: towards Taiwan. We are seeing massive, massive challenges with regards

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Speaker 4: to national security around the border and how we handle

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Speaker 4: this this just absolute crisis and drug flow and illegal

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Speaker 4: illegal immigration, and how and how we're responding to the

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Speaker 4: pressures that is placing on.

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Speaker 3: All of our cities.

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Speaker 4: And yes, we're seeing interest rates that while I believe

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Speaker 4: the market is hoping that these come down next year,

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Speaker 4: hope is not a strategy and in fact there's a

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Speaker 4: big difference between markets and the economy. And in this case,

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Speaker 4: I think interest rates will be higher for longer. I

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Speaker 4: think it has a massive.

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Speaker 1: Effect cut next year.

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Speaker 4: I think that when we the Fed will cut when

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Speaker 4: we have a recession. And this is the reality of

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Speaker 4: mild recession that I expect that we see next year.

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Speaker 4: We're building it into Virginia's plans. And then finally we've

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Speaker 4: got a real challenge around reaching a budget agreement. And

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Speaker 4: while there have been two postponements of this real debate,

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Speaker 4: come January and February we'll have it again. And I

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Speaker 4: think that there's just a reality of there's a lot

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Speaker 4: of distance between agreeing here, and so those factors all

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Speaker 4: suggest to me that we do have risk of a recession.

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Speaker 3: I hope we don't have one.

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Speaker 4: We continue in Virginia to drive things that are expansive

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Speaker 4: in policy so that we can have more jobs. But

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Speaker 4: at the end of the day, I think that in Virginia,

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Speaker 4: I know this, we are planning for a mild recession

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Speaker 4: next year. I'm going to make sure that we're prepared,

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Speaker 4: and if we don't have one, then Virginians will be a.

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Speaker 3: Lot better off.

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Speaker 2: You talked about these citizens leaving blue cities and blue

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Speaker 2: states going to red states. You talked about that you're

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Speaker 2: still dealing with inflation caused, I think in your view

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Speaker 2: by the bidendministration.

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Speaker 1: Yet Republicans keep losing key elections.

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Speaker 2: The Democrats won the General Assembly in Virginia, the Democrats

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Speaker 2: won in Ohio.

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Speaker 1: A Democrat governor won in Kentucky, deep red.

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Speaker 2: He was an incumbent in just this round though, But

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Speaker 2: also there's a midterm election.

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Speaker 1: Everyone thought were going to see a red wave and

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Speaker 1: we did it. Why is that?

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Speaker 3: Well, let me back up. So, first of all, I.

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Speaker 4: Would also add that there's now a new Republican governor

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Speaker 4: in Louisiana. There was a new Republican governor last year

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Speaker 4: in Nevada, and the year before there was a new

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Speaker 4: Republican governor in Virginia, and so there really has been

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Speaker 4: I think this centering around elections where we're seeing in

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Speaker 4: purple states like Virginia this push and pull, and Virginia

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Speaker 4: I think is very representative of the nation where we

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Speaker 4: are seeing the redistrict king have an impact, but on

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Speaker 4: top of that very very tight elections year after year

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Speaker 4: after year. And I think this is representative of America.

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Speaker 4: And it's our job as Republicans, I think, to really

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Speaker 4: cast a vision about how we are going to move

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Speaker 4: forward and build an economic opportunity zone for Virginia and

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Speaker 4: for America.

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Speaker 3: And I think this is our key job.

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Speaker 4: And I believe at points, we haven't done a great

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Speaker 4: job doing that, and therefore that's why I spent most

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Speaker 4: of my time on our campaign and I as governor

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Speaker 4: very clearly articulating what we want to do, and far

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Speaker 4: less time on platitudes and far more time on specifics.

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Speaker 3: And I think voters are smart. They want to know specifics.

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Speaker 4: What are you going to do and does it make

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Speaker 4: sense to me that it's going to work. And in

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Speaker 4: this context, I think that common sense consistently prevails, and

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Speaker 4: I think voters want to understand how actions are going

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Speaker 4: to translate into results, and we see it. And I'm

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Speaker 4: going to go back to my to my winning states

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Speaker 4: and losing states. People understand that if you have high taxes,

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Speaker 4: you're going to have less of your money that you've

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Speaker 4: worked hard for, and therefore you're going to move someplace

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Speaker 4: where you have a lower tax environment.

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Speaker 3: And just last week, California announced.

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Speaker 4: That they had a sixty eight billion dollar deficit, and

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Speaker 4: in fact, the scuttle buck behind it is that they

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Speaker 4: have less tax receipts. Well, that is not surprising in

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Speaker 4: the fact that they have been one of the top

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Speaker 4: states in out migration where people are moving other places.

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Speaker 3: This is just real stuff.

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Speaker 4: And so that's when I am very clearly articulating why

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Speaker 4: we need to rationalize our tax policy in Virginia. Why

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Speaker 4: we need to reduce the cost of living, Why we

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Speaker 4: need to increase job opportunity, We need to we need

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Speaker 4: to make sure our education footprint is the best in

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Speaker 4: the nation. Why we have to focus on workforce development

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Speaker 4: and training people for the jobs of future. Why don't

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Speaker 4: you make our neighborhoods safe. This combination of policies and

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Speaker 4: actions results in a better Virginia. And when there's a

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Speaker 4: better Virginia, jobs come and people come.

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Speaker 2: You're sensing another governor's debate, maybe instead of DeSantis versus

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Speaker 2: you and Gavin Newsom, since you seem to like to

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Speaker 2: well policies up against California.

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Speaker 3: But I believe it.

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Speaker 4: We don't have to just pick on California. We can

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Speaker 4: pick on New York. We can say the same thing

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Speaker 4: about Illinois and go back to what I said, which

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Speaker 4: is pick the metric unemployment, population, movement, job growth, and

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Speaker 4: states that have common sense policies that really recognize that

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Speaker 4: lowering costs, lowering taxes, having business friendly environments work and

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Speaker 4: the others don't. And in a world where we have

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Speaker 4: the ability to move businesses have the ability to decide

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Speaker 4: where their next investment is going. They're choosing states that,

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Speaker 4: in fact, long term provide the best opportunities.

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Speaker 2: Abortion played a big role in the Virginia elections, as

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Speaker 2: these others that happened in November, and you were specific

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Speaker 2: about what you wanted to do a fifteen week limit.

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Speaker 3: Was this a mistake, No, it was not a mistake.

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Speaker 4: I firmly believe that one of the challenges that we

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Speaker 4: have had as Republicans is we haven't been clear on

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Speaker 4: what we're going to do. And I believe that we

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Speaker 4: can be clear and we can find a reasonable place

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Speaker 4: to land and what is one of the most difficult

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Speaker 4: topics in America, truly one of the most difficult topics

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Speaker 4: in America, and by not being clear on where we

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Speaker 4: would like to go, we allow the Democrats to define us.

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Speaker 4: And I think this is a very important time for

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Speaker 4: Republicans to be clear. The abortion topic in Virginia has

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Speaker 4: been one that's been discussed for a long time, and

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Speaker 4: there was an effort by the progressive left to adopt

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Speaker 4: bills that would extend abortion all the way up through

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Speaker 4: including birth and Virginians rejected that, and so we wanted

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Speaker 4: to be very clear that we felt like we had

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Speaker 4: a reasonable position, a place where a baby scientifically has

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Speaker 4: been shown to feel pain, a place that Virginians can

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Speaker 4: come together around a policy that is accepted around the world.

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Speaker 4: It's kind of the European standard, and then finally a

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Speaker 4: place where we can be very clear that this is

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Speaker 4: what we will do. The challenge in our election, in

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Speaker 4: my view, was was one we were fighting an uphill

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Speaker 4: battle and redistricting just from an absolute number standpoint, and

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Speaker 4: the other side spent forty million dollars telling everyone that

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Speaker 4: we were going to ban abortion, arrest doctors, arrest mothers,

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Speaker 4: and we had no exceptions. Those were all fabricated untruths,

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Speaker 4: And we spent about four million dollars expressing the fact

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Speaker 4: that we believed that there should be a limited fifteen

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Speaker 4: weeks that we leaved in exceptions in the case of

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Speaker 4: rape and incest and when the mother's life is at risk,

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Speaker 4: and in all candor. I believe that the forty million

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Speaker 4: dollars of untruths penetrated deeper than four million dollars of You.

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Speaker 2: Think you lost, like the media war and advertising, we

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Speaker 2: lost the media war.

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Speaker 4: I do believe also, though, that had we not done

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Speaker 4: what we did, the election results would have been even

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Speaker 4: even more skewed towards the Democrats. I mean, these races

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Speaker 4: were incredibly tight. I mean, at the end of the day,

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Speaker 4: in one county, there was a thousand votes that went

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Speaker 4: one way, actually a thousand one hundred that went one way,

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Speaker 4: And if it had gone the other way, we would

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Speaker 4: have we would have flipped the Senate, and we would

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Speaker 4: have we would have tied the House. The flip side

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Speaker 4: is we won a race by less than seventy votes,

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Speaker 4: and so these were incredibly tight races all across the Commonwealth.

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Speaker 4: And that's why I go back to my earlier comment.

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Speaker 4: I think Virginia is very reflective of the nation, deeply purple,

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Speaker 4: willing to engage in and deep conversations about the most

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Speaker 4: important topics, and demanding from candidates and their elected leaders

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Speaker 4: explanations about why we're doing what we're doing, and then

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Speaker 4: allowing them to make decisions. I think this has to

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Speaker 4: be at least the future of my approach to being

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Speaker 4: a Republican, which is I'm going to explain why we're

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Speaker 4: doing it, how we're going to do it and why

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Speaker 4: it should result in good outcomes, and I think that

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Speaker 4: voters deserve.

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Speaker 2: That, whether it's purple Virginia or red Ohio, Kentucky.

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Speaker 1: As I mentioned, this does get people out to vote.

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Speaker 2: Though, do you think that it's such a moral position

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Speaker 2: that Republicans should stand by it or because it loses

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Speaker 2: elections whether or not you're saying it's lies in.

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Speaker 1: The media, but it gets people out to lote, and

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Speaker 1: it loses for Republicans.

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Speaker 2: Is it something that they need to adopt a more

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Speaker 2: liberal stance? I mean Pew research as sixty two percent

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Speaker 2: of Americans want to make sure that they have access

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Speaker 2: to abortion and they don't want it.

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Speaker 3: To be restricted.

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Speaker 4: Well, that's why I felt that a reasonable approach was

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Speaker 4: one that protects life. In fifteen weeks and all of

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Speaker 4: our polling and discussions suggested it's a place that Virginians

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Speaker 4: could come around, and we again, I think we were

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Speaker 4: literally overwhelmed by untruths that were spread at a ten

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Speaker 4: to one ratio of explaining it. Meanwhile, we're talking about

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Speaker 4: on top of an important and divisive topic like abortion,

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Speaker 4: we were talking about economic growth and jobs and education

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Speaker 4: and safe communities and why Virginia.

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Speaker 2: As the number one issue, but it's economics. Yes, it

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Speaker 2: seems that people still came out.

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Speaker 4: And there's a group in the middle in deeply purple

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Speaker 4: areas that this is a very important topic and we

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Speaker 4: should never never dismiss that, And that's why we need

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Speaker 4: to be clear. And I do believe there's a place

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Speaker 4: we could come together as a nation and find a

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Speaker 4: place to land a very very difficult topic, and I'd encourage.

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Speaker 3: Us to do so.

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Speaker 2: Do you think it's important that the Republican nominee for

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Speaker 2: president be clear because you see if you watch the debates,

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Speaker 2: it's all over the map.

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Speaker 3: Yea.

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Speaker 4: As Again, I firmly believe that the position that we

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Speaker 4: took in Virginia was the right one. I do believe

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Speaker 4: that we lost the media war and one that I

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Speaker 4: think will continue to play out, and I will continue

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Speaker 4: to express a hope that we can come together around

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Speaker 4: a reasonable solution because there are so many important topics

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Speaker 4: as well, in growing jobs and opportunity and getting education

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Speaker 4: to the point where we can provide an excellent education

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Speaker 4: for all our kids. We can raise the ceiling and

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Speaker 4: the floor, and we can provide quality childcare for families,

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Speaker 4: and we can make sure that we're taking care of

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Speaker 4: our foster kids. And there are so many other topics

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Speaker 4: that we need to make sure that we have great,

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Speaker 4: common sense solutions in order to drive forward better lives,

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Speaker 4: and I'm looking forward to and so that's why I

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Speaker 4: do believe this is one of these topics that we've

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Speaker 4: got to work to come together as a nation and

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Speaker 4: move forward them.

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Speaker 2: Abortion isn't the only social issue You've been very clear about.

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Speaker 1: You've taken a stance in education.

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Speaker 2: It's what many give you the reason why you want

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Speaker 2: in twenty twenty one. You're very clear about that as

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Speaker 2: well as ESG. And I'm wondering with what we're seeing,

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Speaker 2: especially over the weekend with the University of Pennsylvania president resigning.

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Speaker 1: Now there's tons of calls for the Harvard president to resign.

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Speaker 1: Do you see a thread of what.

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Speaker 2: You took on on parents being more involved in children's

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Speaker 2: lives and children's education. Is there a cultural issue that

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Speaker 2: you see stemming up even to higher education.

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Speaker 4: Well, the short answers yes, to unpack that a bit.

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Speaker 4: At the heart of great education our parents being deeply

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Speaker 4: engaged in their children's lives and empowered to do so,

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Speaker 4: and taking on the responsibility to do so. With rights

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Speaker 4: come responsibilities paired with extraordinary teaching, and we know that

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Speaker 4: when we have parents deeply engaged in great teaching, children

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Speaker 4: can thrive. And so that's where we have been focused,

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Speaker 4: which is empowering parents and asking them to be deeply

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Speaker 4: engaged and making sure that we're supporting an academic framework.

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Speaker 4: We've had the largest education budgets in Virginia, the last

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Speaker 4: two budgets I've signed in the history of the state,

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Speaker 4: so that the resources flow as needed, and we've had

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Speaker 4: twelve percent pay increases for teachers in the last eighteen months.

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Speaker 4: I mean, this is really important. It does translate also

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Speaker 4: into what's happening on our campuses, and I think there's

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Speaker 4: been a real recognition that our campuses have really begun

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Speaker 4: and it didn't just start recently, but it's been going

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Speaker 4: for a while to really suppress the whole purpose of

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Speaker 4: a college campus, and that's to be able to express

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Speaker 4: your views in a way that allows the sharing of perspective.

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Speaker 4: And what happened as a result over number of years

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Speaker 4: is that if you didn't go with the mainstream flow,

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Speaker 4: you were ostracized, oftentimes felt you felt canceled and on

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Speaker 4: top of that, you were worried that you were going

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Speaker 4: to be penalized, both in the classroom and socially, and

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Speaker 4: in fact, all the data suggests that we've got real

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Speaker 4: challenges with regards to students feeling comfortable to express themselves.

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Speaker 4: But there is an opposite side to this, which is

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Speaker 4: I will protect our I will protect our First Amendment

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Speaker 4: right until the day I die, and I actually swore

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Speaker 4: in a Bible that I will protect and defend our constitution.

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Speaker 4: But that doesn't mean you can say and do anything

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Speaker 4: you want, particularly when you are espousing horrific hate speech

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Speaker 4: and talking about literally annihilating an entire group of people.

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Speaker 4: And this is wrong, and there has to be a

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Speaker 4: very clear understanding that there's freedom of expression, but when

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Speaker 4: it incites violence and encourages truely the annihilation of people,

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Speaker 4: it has to stop. And we need to be clear

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Speaker 4: on this. I believe that, yes, there's a role for

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Speaker 4: judges and lawyers and in debating this, but there is

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Speaker 4: a requirement for leaders to stand up and talk about

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Speaker 4: what is right and what is wrong. And these college

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Speaker 4: professors tried to suggest that there was some moments where

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Speaker 4: you could justify you could justify extermination speech.

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Speaker 3: There's no justification here.

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Speaker 2: You and T Harvard Business School should claudine gay stepiside.

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Speaker 4: I do believe that there is a real justification for

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Speaker 4: the president stepping down, and I believe the other two

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Speaker 4: should come under the exact same scrutiny.

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Speaker 1: What about state and federal funding to these universities.

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Speaker 4: Well, again, I work mostly on state funding. I gathered

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Speaker 4: up our university presidents two weeks ago and we had

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Speaker 4: a symposium on free speech on campus with all of

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Speaker 4: our university leaders, both public and private. We talk specifically

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Speaker 4: about the culture on campuses and the fact that nearly

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Speaker 4: fifty percent of students on campuses today think that it

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Speaker 4: is appropriate to interrupt a speaker that they disagree with.

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Speaker 4: A huge number of students think that it's appropriate to

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Speaker 4: use physical, physical violence to keep people from going to

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Speaker 4: see a speaker they disagree with. I mean, this is

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Speaker 4: an absolute cultural moment for us, which is to step

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Speaker 4: forward and say, wait a minute. There are bright lines

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Speaker 4: on how we behave there are bright lines about how

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Speaker 4: we express ourselves, and we will absolutely defend our constitutional

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Speaker 4: rights every day. But there is a tipping point and

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Speaker 4: we have to be clear on where that tipping point

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Speaker 4: is an extermination speech is clearly on the wrong side

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Speaker 4: of that tipping point.

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Speaker 2: All right, I want to also ask to ask you

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Speaker 2: about ESG. These are the type of quotes coming out

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00:23:58,160 --> 00:24:01,600
Speaker 2: of corporate America today. We believe strong ESG competencies or

445
00:24:01,640 --> 00:24:05,960
Speaker 2: hallmarks of management excellence. Was signed by Glenn Younkin, then

446
00:24:06,040 --> 00:24:09,639
Speaker 2: co CEO Carlisle before you step down twenty twenty, you

447
00:24:09,720 --> 00:24:12,359
Speaker 2: at one point did promote ESG. I've read through your

448
00:24:12,400 --> 00:24:15,840
Speaker 2: impact funds before. Yet you don't want to promote from

449
00:24:15,840 --> 00:24:18,760
Speaker 2: the governor's mansion, but you would from the corporate boardroom.

450
00:24:19,160 --> 00:24:22,160
Speaker 3: Why is that? Well, first of all, I think that

451
00:24:22,640 --> 00:24:28,520
Speaker 3: you are comparing two different times where ESG has migrated

452
00:24:28,560 --> 00:24:29,560
Speaker 3: totally out of bounds.

453
00:24:30,040 --> 00:24:31,040
Speaker 1: So you think it's gone too far.

454
00:24:31,040 --> 00:24:33,320
Speaker 3: Oh, it's gone way too far, But it has a place.

455
00:24:33,960 --> 00:24:40,960
Speaker 4: There is no argument that promoting environmental responsibility which is

456
00:24:41,040 --> 00:24:45,879
Speaker 4: the E, and promoting social responsibility which is the S,

457
00:24:46,520 --> 00:24:50,760
Speaker 4: and promoting good transparent governance which is the G are

458
00:24:50,840 --> 00:24:54,040
Speaker 4: good things. And of course what we see is good

459
00:24:54,280 --> 00:24:59,400
Speaker 4: organizations that embrace those topics over long years did well.

460
00:24:59,440 --> 00:25:02,200
Speaker 4: They did better than those that didn't. What, of course

461
00:25:02,280 --> 00:25:05,919
Speaker 4: happened was it became a religion, and it took it

462
00:25:05,960 --> 00:25:09,200
Speaker 4: took these basic concepts and said, if you don't do

463
00:25:09,280 --> 00:25:12,840
Speaker 4: the most extreme version of all of them, then we

464
00:25:12,960 --> 00:25:14,160
Speaker 4: in fact are going.

465
00:25:13,960 --> 00:25:18,040
Speaker 3: To cancel you. And this has gotten so out of control.

466
00:25:18,359 --> 00:25:23,000
Speaker 4: There is an appropriate place here, a reasonable place, a

467
00:25:23,160 --> 00:25:28,440
Speaker 4: common sense place that embraces the reality that there is

468
00:25:28,480 --> 00:25:32,680
Speaker 4: not just an economic return to being engaged in quality

469
00:25:32,760 --> 00:25:36,920
Speaker 4: environmental policy, and not that there is not just a

470
00:25:36,960 --> 00:25:42,159
Speaker 4: transparency benefit to good governance, and not that there's just a.

471
00:25:43,840 --> 00:25:46,719
Speaker 3: Benefit of being engaged in your community.

472
00:25:47,240 --> 00:25:50,800
Speaker 4: But these things combined together to make good corporate, good organizations.

473
00:25:51,520 --> 00:25:54,680
Speaker 4: It went so far out of bounds, and we've got

474
00:25:54,720 --> 00:25:58,119
Speaker 4: to get it back into the realm of reasonableness. This

475
00:25:58,280 --> 00:26:00,560
Speaker 4: is where we where we are from fighting on so

476
00:26:00,640 --> 00:26:05,600
Speaker 4: many fronts. Things got so extreme, and let's bring them

477
00:26:05,720 --> 00:26:09,920
Speaker 4: back to reasonableness. Let's have college campuses that actually debate

478
00:26:10,000 --> 00:26:10,800
Speaker 4: both sides of.

479
00:26:10,720 --> 00:26:12,080
Speaker 3: Issues in the classroom.

480
00:26:12,160 --> 00:26:16,919
Speaker 4: Let's have professors that actually become professors as opposed to

481
00:26:16,960 --> 00:26:19,080
Speaker 4: those that are trying to impart their view on all

482
00:26:19,080 --> 00:26:21,840
Speaker 4: their children or all the students. Let's make sure that

483
00:26:22,200 --> 00:26:25,840
Speaker 4: we in fact have college campuses where, yes, we encourage

484
00:26:25,880 --> 00:26:28,960
Speaker 4: the first Amendment right, but we don't allow we don't

485
00:26:28,960 --> 00:26:33,280
Speaker 4: allow extermination speech. Let's make sure that we have quality

486
00:26:33,560 --> 00:26:37,400
Speaker 4: ESG proposals that do embrace the reality of an economic

487
00:26:37,440 --> 00:26:41,560
Speaker 4: benefit of these things without canceling and literally trying trying

488
00:26:41,560 --> 00:26:44,119
Speaker 4: to drive a political agenda. Let's make sure we have

489
00:26:44,320 --> 00:26:47,600
Speaker 4: reasonable energy policies. I mean, there's a reality and energy

490
00:26:47,680 --> 00:26:51,520
Speaker 4: which we've got to embrace, which is we can't begin

491
00:26:51,800 --> 00:26:55,800
Speaker 4: to fund every offshore wind project on the planet, because

492
00:26:55,840 --> 00:26:58,600
Speaker 4: what we're seeing is ten of them have already begun

493
00:26:58,640 --> 00:27:01,240
Speaker 4: to fail or failed in the East Coast because they're

494
00:27:01,280 --> 00:27:05,560
Speaker 4: economically unviable. We need natural gas, we need wind and solar,

495
00:27:05,760 --> 00:27:10,360
Speaker 4: we need nuclear, we need carbon capture, We're.

496
00:27:09,280 --> 00:27:10,600
Speaker 3: Going to need hydrogen.

497
00:27:10,840 --> 00:27:13,480
Speaker 4: We need all of the above in order to have

498
00:27:13,640 --> 00:27:17,560
Speaker 4: a secure and reliable and yes, increasingly clean energy future.

499
00:27:18,080 --> 00:27:20,840
Speaker 4: This is all about common sense. And when we see

500
00:27:20,880 --> 00:27:23,760
Speaker 4: things move so far out of bounds that we can't

501
00:27:23,800 --> 00:27:26,840
Speaker 4: even begin to explain why things are being done, we

502
00:27:26,880 --> 00:27:29,520
Speaker 4: know we have violated the common sense rule.

503
00:27:29,920 --> 00:27:31,679
Speaker 3: And let's get back into.

504
00:27:31,400 --> 00:27:35,240
Speaker 4: The land of reality and out of the land of unreality.

505
00:27:35,680 --> 00:27:40,000
Speaker 2: So, as a business executive, you had to confront investors,

506
00:27:40,080 --> 00:27:43,119
Speaker 2: confront management, as a governor, you have to confront voters

507
00:27:43,200 --> 00:27:45,280
Speaker 2: head on. You know what it takes to be an

508
00:27:45,320 --> 00:27:48,760
Speaker 2: executive a huge company, to govern a state. We see

509
00:27:48,800 --> 00:27:52,399
Speaker 2: three other governors on stage potentially be the nominee for

510
00:27:52,440 --> 00:27:54,040
Speaker 2: your party, Christy.

511
00:27:53,800 --> 00:27:54,879
Speaker 1: DeSantis and Haley.

512
00:27:55,359 --> 00:27:58,160
Speaker 2: Yet the potential man is someone who's talking about being

513
00:27:58,160 --> 00:28:01,840
Speaker 2: a dictator for the day, lost in twenty twenty and

514
00:28:01,880 --> 00:28:05,120
Speaker 2: will be older than Joe Biden was on his inauguration day.

515
00:28:05,160 --> 00:28:08,040
Speaker 2: Do you think it's time for someone new for next year?

516
00:28:08,920 --> 00:28:10,440
Speaker 3: So Americans will decide this.

517
00:28:10,720 --> 00:28:12,440
Speaker 1: This is what everyone also is waiting.

518
00:28:12,160 --> 00:28:15,560
Speaker 3: For you to have Americans. Americans will decide this.

519
00:28:16,720 --> 00:28:20,120
Speaker 4: And I have said I want Virginians to decide who

520
00:28:20,280 --> 00:28:26,160
Speaker 4: our nominee is. I firmly believe that America cannot cannot

521
00:28:26,200 --> 00:28:30,480
Speaker 4: withstand another four years of a Biden presidency and what

522
00:28:30,520 --> 00:28:35,080
Speaker 4: we see today are the real ramifications of bad leadership.

523
00:28:35,160 --> 00:28:38,440
Speaker 2: But it looks like Trump's potentially, it looks like Biden

524
00:28:38,960 --> 00:28:43,720
Speaker 2: can beat Trump. But Biden loses by huge margins if

525
00:28:43,720 --> 00:28:46,240
Speaker 2: you look up, say him versus Nikki Hayley, Well, so

526
00:28:46,440 --> 00:28:48,360
Speaker 2: have you changed maybe your goal?

527
00:28:48,480 --> 00:28:50,520
Speaker 4: I'm the first one, Biden, I'm the first one to

528
00:28:50,560 --> 00:28:54,200
Speaker 4: say that Polls are polls, and it matters.

529
00:28:54,520 --> 00:28:56,080
Speaker 3: What matters as a number of voters it is.

530
00:28:56,160 --> 00:28:58,600
Speaker 2: But they've already had a matchup, right, So your goal

531
00:28:58,720 --> 00:29:00,880
Speaker 2: is to not have a president Biden. Have you had

532
00:29:00,880 --> 00:29:03,920
Speaker 2: a change of a heart and potentially endorsing someone that

533
00:29:04,320 --> 00:29:05,720
Speaker 2: could beat Biden in.

534
00:29:05,680 --> 00:29:08,880
Speaker 4: A general Well, first of all, I have been very

535
00:29:08,920 --> 00:29:11,960
Speaker 4: clear I will not endorse prior to prior to the

536
00:29:12,040 --> 00:29:14,920
Speaker 4: Virginia prior to the Virginia primary, IMI.

537
00:29:14,840 --> 00:29:15,920
Speaker 3: Let Virginians choose.

538
00:29:16,640 --> 00:29:22,320
Speaker 4: And second of all, I firmly believe that Americans, Republicans, Independents,

539
00:29:22,360 --> 00:29:26,080
Speaker 4: and a load of Democrats understand that we can as

540
00:29:26,120 --> 00:29:28,920
Speaker 4: a nation afford another four years of Joe Biden.

541
00:29:29,000 --> 00:29:30,080
Speaker 3: Just look at what's happening.

542
00:29:30,360 --> 00:29:33,040
Speaker 4: I mean, even compare it to even compare it to

543
00:29:33,080 --> 00:29:38,200
Speaker 4: the Trump presidency. We have got international chaos, truly, war

544
00:29:38,280 --> 00:29:42,280
Speaker 4: in the Middle East, war in Ukraine pending, and saber

545
00:29:42,360 --> 00:29:44,520
Speaker 4: rattling and military aggression out of China like.

546
00:29:44,520 --> 00:29:45,280
Speaker 3: We didn't see.

547
00:29:45,760 --> 00:29:49,320
Speaker 4: We see chaos at the border, true chaos at the border,

548
00:29:49,360 --> 00:29:52,960
Speaker 4: and no one can deny this is It is chaos

549
00:29:53,040 --> 00:29:56,440
Speaker 4: in a humanitarian basis. It's chaos from a drug flow standpoint,

550
00:29:56,440 --> 00:30:00,160
Speaker 4: It's chaos from a national security standpoint, We're watching our

551
00:30:00,200 --> 00:30:03,480
Speaker 4: economy and we're debating whether we're going to have a

552
00:30:03,520 --> 00:30:06,480
Speaker 4: recession or not, because we now have interest rates we've

553
00:30:06,480 --> 00:30:08,640
Speaker 4: never seen before, because they've had to be raised in

554
00:30:08,720 --> 00:30:12,680
Speaker 4: order to combat the inflation that he unleashed. When everybody knew,

555
00:30:12,680 --> 00:30:15,200
Speaker 4: when you have unfettered spending to the degree that he did,

556
00:30:15,200 --> 00:30:16,520
Speaker 4: we were going to unleash inflation.

557
00:30:16,600 --> 00:30:17,920
Speaker 3: He didn't seem to recognize that.

558
00:30:18,400 --> 00:30:22,320
Speaker 4: So we've got this massive reality and an Americans see,

559
00:30:22,760 --> 00:30:24,720
Speaker 4: and I do believe that at the end of the

560
00:30:24,840 --> 00:30:28,000
Speaker 4: day that the Republican candidate will be Joe Biden, and

561
00:30:28,040 --> 00:30:31,040
Speaker 4: I think Americans, Americans will vote that way because they

562
00:30:31,120 --> 00:30:34,080
Speaker 4: know that the weakness that he projects, the weakness that

563
00:30:34,120 --> 00:30:37,280
Speaker 4: he projects around the world and at home, has put

564
00:30:37,280 --> 00:30:40,680
Speaker 4: America's future at risk, and we can't have this again.

565
00:30:41,640 --> 00:30:45,840
Speaker 4: You cannot project that kind of weakness internationally and the

566
00:30:46,520 --> 00:30:51,760
Speaker 4: aggression that you see from our adversaries, from Iran, from Russia,

567
00:30:52,040 --> 00:30:56,880
Speaker 4: from China, from North Korea. This is an absolute result

568
00:30:57,240 --> 00:30:59,320
Speaker 4: of a week president, and we can't have that again.

569
00:31:00,200 --> 00:31:03,080
Speaker 1: Will you serve out your full term as governor?

570
00:31:03,360 --> 00:31:05,480
Speaker 3: I fully plan on servant out my full year. I

571
00:31:05,560 --> 00:31:06,840
Speaker 3: do and do you go.

572
00:31:06,840 --> 00:31:10,400
Speaker 2: Into an administration if you were tapped as VP or cabinet.

573
00:31:10,720 --> 00:31:12,719
Speaker 4: Well, again, I plan on servant out the next two

574
00:31:12,800 --> 00:31:15,680
Speaker 4: years as governor, and I've been very clear that I'm

575
00:31:15,720 --> 00:31:19,600
Speaker 4: focused on Virginia. We're at halftime. I've served for two years,

576
00:31:20,040 --> 00:31:23,240
Speaker 4: I've got two more years to go. I'm term limited,

577
00:31:23,480 --> 00:31:28,040
Speaker 4: and so I constantly I'm under the impression that I've

578
00:31:28,040 --> 00:31:29,920
Speaker 4: got to get eight years of work done in four years.

579
00:31:30,480 --> 00:31:34,080
Speaker 4: We do it at an extraordinary pace, and we have

580
00:31:34,120 --> 00:31:37,560
Speaker 4: an urgency that I think brings the pace of business

581
00:31:37,680 --> 00:31:41,160
Speaker 4: to the pace of government. And we've seen huge change

582
00:31:41,160 --> 00:31:44,400
Speaker 4: in Virginia in two years, and that is with split government.

583
00:31:44,520 --> 00:31:47,080
Speaker 4: We have had split government, We've gotten it done. I

584
00:31:47,120 --> 00:31:48,840
Speaker 4: believe we can continue to get it done. And I

585
00:31:48,920 --> 00:31:52,280
Speaker 4: look forward to demonstrating not just to Virginian's but hopefully

586
00:31:52,280 --> 00:31:55,320
Speaker 4: to the nation that in split government, in a purple

587
00:31:55,360 --> 00:31:58,960
Speaker 4: state where we have to really negotiate everything, we can

588
00:31:59,040 --> 00:32:01,520
Speaker 4: do all of the things that we need to do

589
00:32:01,640 --> 00:32:04,840
Speaker 4: in order to drive a winning Virginia. And that's what

590
00:32:04,880 --> 00:32:05,880
Speaker 4: I look forward to demonstrate.

591
00:32:06,040 --> 00:32:08,600
Speaker 2: So this in final because I know arount of time,

592
00:32:08,760 --> 00:32:10,760
Speaker 2: but this leads us then to twenty twenty eight and

593
00:32:10,800 --> 00:32:13,840
Speaker 2: David Rubinstein asked you how many people a day are

594
00:32:13,920 --> 00:32:16,160
Speaker 2: coming up to you asking you to run for president?

595
00:32:16,200 --> 00:32:18,800
Speaker 2: And you said usually more than once. Is that still

596
00:32:18,840 --> 00:32:19,240
Speaker 2: the case?

597
00:32:19,760 --> 00:32:21,920
Speaker 4: I am first of all, David asked me that more

598
00:32:21,960 --> 00:32:25,560
Speaker 4: than once, and now I'm ask yeah, now you're asking.

599
00:32:26,200 --> 00:32:29,959
Speaker 4: And I am flattered by the fact that there are

600
00:32:30,000 --> 00:32:32,720
Speaker 4: a number of people not just in Virginia but around

601
00:32:32,760 --> 00:32:36,240
Speaker 4: the country who who like what we're doing and see

602
00:32:36,280 --> 00:32:39,440
Speaker 4: that the approach that we have taken, which is to

603
00:32:39,560 --> 00:32:43,920
Speaker 4: get grounded back into common sense, resonates.

604
00:32:43,680 --> 00:32:46,080
Speaker 1: Even after the election. They're still momentum.

605
00:32:46,200 --> 00:32:49,840
Speaker 4: Yes, and I think most people recognize that Virginia is purple.

606
00:32:50,240 --> 00:32:53,880
Speaker 4: And we have flip flopped back and forth on both

607
00:32:54,200 --> 00:32:57,360
Speaker 4: both the General Assembly and in the Governor's office between

608
00:32:57,400 --> 00:33:02,040
Speaker 4: Republicans and Democrats. And I think the inspiring moment for

609
00:33:02,200 --> 00:33:06,080
Speaker 4: us is to demonstrate that with this divided government, with

610
00:33:06,240 --> 00:33:09,680
Speaker 4: the necessity of negotiating with people from the other.

611
00:33:09,560 --> 00:33:11,600
Speaker 3: Side of the aisle, which we did for the last.

612
00:33:11,360 --> 00:33:13,680
Speaker 4: Two years, and we will demonstrate we will do for

613
00:33:13,720 --> 00:33:16,480
Speaker 4: the next two years. I'm hoping that we can demonstrate

614
00:33:16,520 --> 00:33:18,240
Speaker 4: it can be done on a national basis as.

615
00:33:18,120 --> 00:33:19,520
Speaker 3: Well, so eight.

616
00:33:20,080 --> 00:33:22,640
Speaker 4: Well, I will serve as governor through twenty twenty six

617
00:33:22,960 --> 00:33:26,120
Speaker 4: and I look forward to having a Virginia that wins

618
00:33:26,560 --> 00:33:27,520
Speaker 4: for twenty twenty eight.

619
00:33:27,600 --> 00:33:28,600
Speaker 1: Will you run for president?

620
00:33:30,080 --> 00:33:31,160
Speaker 3: That is a long way away.

621
00:33:31,480 --> 00:33:35,360
Speaker 1: Okay, so you're thinking about you and I have.

622
00:33:35,360 --> 00:33:38,200
Speaker 4: To say that one of the most enjoyable things is

623
00:33:38,320 --> 00:33:43,720
Speaker 4: when someone very kindly comes up to my amazing wife, Suzanne,

624
00:33:43,840 --> 00:33:47,240
Speaker 4: who is just an extraordinary partner and a great first lady,

625
00:33:47,720 --> 00:33:50,800
Speaker 4: and says, what are you thinking about in the future,

626
00:33:50,840 --> 00:33:52,840
Speaker 4: And she grabs me by the arm and walks me

627
00:33:52,840 --> 00:33:55,240
Speaker 4: out the back door and says, we'll talk about that later.

628
00:33:56,000 --> 00:33:57,480
Speaker 4: And so if she were here, she would grab me

629
00:33:57,520 --> 00:33:58,920
Speaker 4: by the arm and she say, thank you so much

630
00:33:58,920 --> 00:33:59,080
Speaker 4: for that.

631
00:33:59,160 --> 00:34:00,640
Speaker 2: You have to get the wife and the kids on

632
00:34:00,720 --> 00:34:03,400
Speaker 2: board before you make big decisions. Governor Glenn Youngkin, thank

633
00:34:03,440 --> 00:34:04,360
Speaker 2: you so much for your time.

634
00:34:04,400 --> 00:34:05,479
Speaker 3: Gat Thank you so much for your