1 00:00:02,520 --> 00:00:10,080 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. You're listening to the 2 00:00:10,080 --> 00:00:13,840 Speaker 1: Bloomberg Balance of Power podcast. Catch us live weekdays at 3 00:00:13,880 --> 00:00:17,079 Speaker 1: noon and five pm Eastern on Apple Coarclay and Android 4 00:00:17,120 --> 00:00:20,520 Speaker 1: Auto with the Bloomberg Business App. Listen on demand wherever 5 00:00:20,560 --> 00:00:25,040 Speaker 1: you get your podcasts, or watch us live on YouTube. 6 00:00:25,720 --> 00:00:28,640 Speaker 2: We start at the Supreme Court this hour and Bloomberg 7 00:00:28,760 --> 00:00:32,600 Speaker 2: Washington correspondent Tyler Kendall. It's been a pretty active environment there, Tyler, 8 00:00:32,800 --> 00:00:36,760 Speaker 2: as the court hears arguments against Donald Trump's terrorf regime. 9 00:00:36,760 --> 00:00:38,279 Speaker 2: What's happening in that building behind. 10 00:00:38,080 --> 00:00:44,800 Speaker 3: You, hey, Joe, Well, the case just wrapped up moments ago, 11 00:00:44,880 --> 00:00:48,519 Speaker 3: and we did see the justices draw some perhaps skepticism 12 00:00:48,560 --> 00:00:51,960 Speaker 3: when it comes to the administration's legal arguments here. Now, 13 00:00:52,000 --> 00:00:53,960 Speaker 3: there are two big questions that were in front of 14 00:00:54,000 --> 00:00:56,920 Speaker 3: the court today. One, does President Trump have the legal 15 00:00:56,960 --> 00:01:01,360 Speaker 3: authority to impost tariffs through IEPA, the International Emergency Economic 16 00:01:01,400 --> 00:01:03,800 Speaker 3: Powers Act, because this is an authority that has never 17 00:01:03,880 --> 00:01:07,200 Speaker 3: been used to impost tariffs before. The second question is, 18 00:01:07,240 --> 00:01:09,559 Speaker 3: if he does have the legal authority to impose teriffs 19 00:01:09,560 --> 00:01:12,959 Speaker 3: through AIPA, can he do so without congressional approval? And 20 00:01:13,080 --> 00:01:16,120 Speaker 3: that really was the point that we saw Justices drill 21 00:01:16,160 --> 00:01:17,920 Speaker 3: in on when it came to their questioning of the 22 00:01:17,959 --> 00:01:20,760 Speaker 3: Solicitor General. It was interesting to hear, and this is 23 00:01:20,800 --> 00:01:23,120 Speaker 3: going to come up a lot as we follow this case. 24 00:01:23,319 --> 00:01:27,400 Speaker 3: The Solicitor General tried to pull the administration's argument back 25 00:01:27,440 --> 00:01:30,480 Speaker 3: from the path fact that tariffs are a revenue raiser, 26 00:01:30,520 --> 00:01:33,720 Speaker 3: because when you think about revenue raising, that sounds like 27 00:01:33,800 --> 00:01:37,440 Speaker 3: power of the purse, which would be a power given 28 00:01:37,560 --> 00:01:40,640 Speaker 3: to Congress. Instead, the administration is trying to make this 29 00:01:40,760 --> 00:01:44,640 Speaker 3: all about navigating foreign affairs and being able to give 30 00:01:44,680 --> 00:01:49,040 Speaker 3: the president broad authority when it comes to national emergencies. Now, 31 00:01:49,040 --> 00:01:51,320 Speaker 3: we did hear some of the justices race questions about 32 00:01:51,320 --> 00:01:53,920 Speaker 3: whether or not the national emergencies that have been declared 33 00:01:53,920 --> 00:01:56,320 Speaker 3: to just to jog your memory, beentnl and the border 34 00:01:56,360 --> 00:01:59,680 Speaker 3: for those tariffs against China, Mexico and Canada, and then 35 00:02:00,120 --> 00:02:03,320 Speaker 3: so the so called reciprocal tariffs, that national emergency is 36 00:02:03,360 --> 00:02:05,840 Speaker 3: tied to persistent trade and balances. We did hear the 37 00:02:05,960 --> 00:02:08,840 Speaker 3: Justices raise some questions here about whether or not that 38 00:02:08,880 --> 00:02:12,680 Speaker 3: meets that legal standard known as an unusual and extraordinary threat. 39 00:02:12,960 --> 00:02:15,959 Speaker 3: At the same time, of course, the Justices also oppressed 40 00:02:16,000 --> 00:02:19,240 Speaker 3: the plaintiffs in this case, many of the justices, including 41 00:02:19,280 --> 00:02:22,520 Speaker 3: the conservative justices in particular, raising questions about how this 42 00:02:22,560 --> 00:02:27,440 Speaker 3: could potentially curb a president's authority to deal with foreign affairs. Now, 43 00:02:27,520 --> 00:02:29,520 Speaker 3: no matter what happens here, this is going to have 44 00:02:29,560 --> 00:02:32,840 Speaker 3: some broad impacts. Just for context, about sixty percent of 45 00:02:32,880 --> 00:02:36,160 Speaker 3: the tariffs implemented so far this term are tied directly 46 00:02:36,160 --> 00:02:39,200 Speaker 3: to AIPA and Joe Our analysts at Boomberg Economics say, 47 00:02:39,200 --> 00:02:42,160 Speaker 3: if there is a sweeping decision against the administration, that 48 00:02:42,200 --> 00:02:45,200 Speaker 3: could drop the average effective US tariffrey from fourteen and 49 00:02:45,240 --> 00:02:47,320 Speaker 3: a half to six and a half percent and could 50 00:02:47,360 --> 00:02:50,120 Speaker 3: amount in more than one hundred and forty billion dollars 51 00:02:50,160 --> 00:02:51,240 Speaker 3: in teri free funds. 52 00:02:51,240 --> 00:02:54,280 Speaker 2: Well, pretty remarkable to consider the scale of a refund 53 00:02:54,280 --> 00:02:56,840 Speaker 2: program if we get to that point. Tyler, I'm just 54 00:02:56,919 --> 00:02:59,360 Speaker 2: curious who we're hearing in the background there. It's not 55 00:02:59,440 --> 00:03:03,160 Speaker 2: uncommon to see large masses of humanity around the Supreme 56 00:03:03,160 --> 00:03:05,520 Speaker 2: Court when they're dealing with social issues. But who's coming 57 00:03:05,520 --> 00:03:07,600 Speaker 2: out to the court to yell about tariffs? 58 00:03:08,880 --> 00:03:13,240 Speaker 3: Well, right now, it appears that there is a now 59 00:03:13,440 --> 00:03:16,400 Speaker 3: smaller group of protesters now that the argument has ended. 60 00:03:16,400 --> 00:03:18,600 Speaker 3: But keep in mind the Supreme Court agreed to hear 61 00:03:18,639 --> 00:03:21,600 Speaker 3: this case on an unusually aggressive schedule, which means and 62 00:03:21,639 --> 00:03:24,720 Speaker 3: indicates to us that they're likely going to decide this quickly. 63 00:03:24,800 --> 00:03:26,960 Speaker 3: So perhaps people felt that they needed to get out 64 00:03:27,480 --> 00:03:31,200 Speaker 3: their voice now. It's also important context here that while 65 00:03:31,240 --> 00:03:34,560 Speaker 3: the Supreme Court has weighed in on this administration before, 66 00:03:34,600 --> 00:03:37,240 Speaker 3: it's always been on an emergency basis. They've always weighed 67 00:03:37,240 --> 00:03:40,880 Speaker 3: in that the administration's policies can persist while the broader 68 00:03:41,000 --> 00:03:43,600 Speaker 3: question of the legality of the policies plays out in court. 69 00:03:43,640 --> 00:03:45,960 Speaker 3: This is the first time the Court is going to 70 00:03:46,040 --> 00:03:49,960 Speaker 3: deal with that specific matter of the legality around the policy. 71 00:03:50,040 --> 00:03:54,480 Speaker 3: I will say beyond protesters, we saw other notable people 72 00:03:54,520 --> 00:03:56,760 Speaker 3: in Washington here. We know that some key members of 73 00:03:56,800 --> 00:04:00,000 Speaker 3: President Trump's cabinet, including the Commerce Secretary Howard Lutnik, Treasure 74 00:04:00,160 --> 00:04:03,720 Speaker 3: Secretary Scott Besnett, Ustr Damis, and Greer were all in 75 00:04:03,760 --> 00:04:06,440 Speaker 3: the room there, as well as some key Democratic senators. 76 00:04:06,480 --> 00:04:08,960 Speaker 3: I had the chance to catch up with Senator Maria Cantwell, 77 00:04:09,000 --> 00:04:11,840 Speaker 3: a Democrat from Washington who sponsored a bill on a 78 00:04:12,120 --> 00:04:15,640 Speaker 3: partisan basis in Congress that would curb the president's power 79 00:04:15,640 --> 00:04:18,000 Speaker 3: when it comes to tariffs. She was there in the 80 00:04:18,080 --> 00:04:20,640 Speaker 3: room today telling me today is an important day for 81 00:04:20,760 --> 00:04:24,440 Speaker 3: her particular bill. So really bringing both sides of the aisle, 82 00:04:24,480 --> 00:04:26,520 Speaker 3: both sides of the issue to the Supreme Court here 83 00:04:26,520 --> 00:04:27,200 Speaker 3: in Washington. 84 00:04:27,279 --> 00:04:29,360 Speaker 2: It sure sounds like an active day in the capitol. 85 00:04:29,360 --> 00:04:32,000 Speaker 2: Bloomberg's Tyler Kendall at the Supreme Court. We thank you, Tyler, 86 00:04:32,480 --> 00:04:34,919 Speaker 2: as we consider what's happening on this day after the 87 00:04:34,920 --> 00:04:37,760 Speaker 2: elections and picking up the pieces from results in races 88 00:04:37,800 --> 00:04:41,560 Speaker 2: across the country. We talked about gubernatorial races in New 89 00:04:41,640 --> 00:04:44,479 Speaker 2: York rather New Jersey and Virginia, and the mayoral race 90 00:04:44,560 --> 00:04:47,400 Speaker 2: in New York, not to mention Prop fifty in California, 91 00:04:47,440 --> 00:04:51,360 Speaker 2: all as the government shut down reaches an historic milestone 92 00:04:51,400 --> 00:04:54,160 Speaker 2: here thirty six days, the longest we have ever known, 93 00:04:54,200 --> 00:04:56,760 Speaker 2: and the President blaming the shutdown in part for the 94 00:04:56,760 --> 00:05:00,160 Speaker 2: results last evening, taking the truth social to say as 95 00:05:00,240 --> 00:05:03,440 Speaker 2: much Trump wasn't on the ballot and shot down were 96 00:05:03,480 --> 00:05:07,000 Speaker 2: the two reasons that Republicans lost elections tonight. That may 97 00:05:07,080 --> 00:05:08,800 Speaker 2: or may not have been the case. In New York City, 98 00:05:08,839 --> 00:05:13,480 Speaker 2: of course, were self described democratic socialists. Zorn Mamdani cruised 99 00:05:13,839 --> 00:05:16,240 Speaker 2: to an easy win to become the next mayor of 100 00:05:16,279 --> 00:05:19,040 Speaker 2: New York. He addressed his supporters in a late rally 101 00:05:19,040 --> 00:05:20,000 Speaker 2: here in New York City. 102 00:05:21,520 --> 00:05:24,120 Speaker 4: The conventional wisdom would tell you that I am far 103 00:05:24,240 --> 00:05:28,880 Speaker 4: from the perfect candidate. I am young, despite my best 104 00:05:28,920 --> 00:05:37,279 Speaker 4: efforts to grow older. I am Muslim, I am a 105 00:05:37,400 --> 00:05:46,680 Speaker 4: democratic socialist, and most damning of all, I refuse to 106 00:05:46,760 --> 00:05:48,320 Speaker 4: apologize for any of this. 107 00:05:50,360 --> 00:05:53,120 Speaker 2: Joining us now from New York City Hall is Bloomberg 108 00:05:53,200 --> 00:05:56,719 Speaker 2: News senior reporter Miles Miller. What's the vibe there today? 109 00:05:56,760 --> 00:06:04,120 Speaker 5: Miles, Yeah, and two months time, Zoronmumdani will occupy the 110 00:06:04,160 --> 00:06:07,039 Speaker 5: office on the other side of City Hall from where 111 00:06:07,080 --> 00:06:10,320 Speaker 5: I'm standing right now. What we know is that affordability 112 00:06:10,920 --> 00:06:13,880 Speaker 5: is the mandate. That's what he said today when he 113 00:06:13,920 --> 00:06:18,080 Speaker 5: spoke before learning to the. 114 00:06:18,920 --> 00:06:19,360 Speaker 6: Say that. 115 00:06:23,080 --> 00:06:33,640 Speaker 7: Transition. So you know, let's see how he can get 116 00:06:33,640 --> 00:06:34,239 Speaker 7: that done. 117 00:06:34,480 --> 00:06:37,359 Speaker 2: Well, he's not sworn until the first of January. Miles, 118 00:06:37,560 --> 00:06:41,120 Speaker 2: how will he spend his time assembling an administration and 119 00:06:41,160 --> 00:06:42,960 Speaker 2: trying to appeal to the New Yorkers who did not 120 00:06:43,040 --> 00:06:45,520 Speaker 2: vote for him. 121 00:06:45,839 --> 00:06:49,680 Speaker 5: He is surrounding himself now with people who understand the 122 00:06:49,720 --> 00:06:53,279 Speaker 5: city government, which to folks who were on the fence 123 00:06:53,320 --> 00:06:56,040 Speaker 5: about him. Who worried about how a thirty four year 124 00:06:56,080 --> 00:07:00,919 Speaker 5: old with no true government running experience could run city 125 00:07:00,960 --> 00:07:05,480 Speaker 5: Hall should give them some pause. Right, they are going 126 00:07:05,520 --> 00:07:08,719 Speaker 5: to have on the transition, folks who worked in city government, 127 00:07:08,800 --> 00:07:12,800 Speaker 5: Folks who worked at big nonprofits as well, all of 128 00:07:12,800 --> 00:07:14,720 Speaker 5: it in an effort to bring the best people into 129 00:07:14,720 --> 00:07:15,440 Speaker 5: city government. 130 00:07:15,640 --> 00:07:17,240 Speaker 7: What we call the Bloomberg method. 131 00:07:17,320 --> 00:07:19,640 Speaker 5: What Mike Bloomberg did when he was here at city 132 00:07:19,640 --> 00:07:23,880 Speaker 5: Hall talking about the corporate leadership in this city. He 133 00:07:23,880 --> 00:07:26,480 Speaker 5: said he would speak with Jamie Diamond at a later date. 134 00:07:26,560 --> 00:07:28,720 Speaker 5: He said he was happy to hear from Bill Ackman, 135 00:07:29,040 --> 00:07:32,320 Speaker 5: saying that he wants him to succeed, but he talked 136 00:07:32,360 --> 00:07:36,000 Speaker 5: about a pro worker and pro growth agenda. He said 137 00:07:36,000 --> 00:07:39,560 Speaker 5: that he wanted to do much more to cut small 138 00:07:39,600 --> 00:07:42,640 Speaker 5: business finds by fifty percent and said he wanted to 139 00:07:42,680 --> 00:07:46,080 Speaker 5: eliminate regulations in the city that are no longer needed. 140 00:07:46,240 --> 00:07:48,520 Speaker 5: But what he really said was he wanted to Trump 141 00:07:48,600 --> 00:07:51,840 Speaker 5: proof city agencies. So he wants to act quickly to 142 00:07:51,840 --> 00:07:55,080 Speaker 5: figure out who his city lawyer, corporation council will be 143 00:07:55,360 --> 00:07:57,400 Speaker 5: so that he can be on the front lines of 144 00:07:57,440 --> 00:08:01,320 Speaker 5: suing the Trump administration. When he feels overstep on, say, 145 00:08:01,480 --> 00:08:02,880 Speaker 5: taking away federal funds. 146 00:08:03,000 --> 00:08:05,760 Speaker 2: Miles, Thank you. Miles Miller at City Hall, Bloomberg News 147 00:08:05,800 --> 00:08:08,520 Speaker 2: senior reporter. We should note Michael Bloomberg as the founder 148 00:08:08,600 --> 00:08:11,880 Speaker 2: majority owner of Bloomberg LP, the parent company of Bloomberg 149 00:08:11,920 --> 00:08:14,240 Speaker 2: Television and Radio. We've got a great panel for you 150 00:08:14,320 --> 00:08:16,440 Speaker 2: here as we try to delve a bit deeper into 151 00:08:16,440 --> 00:08:19,800 Speaker 2: these results and draw some insights with the help of 152 00:08:19,880 --> 00:08:22,720 Speaker 2: Mark Short, former chief of staff to Vice President Mike Pence, 153 00:08:22,720 --> 00:08:25,360 Speaker 2: a Republican strategist in our studios in Washington, d C. 154 00:08:25,520 --> 00:08:28,080 Speaker 2: As well. Butf you're at Ja Heskell, director of External 155 00:08:28,120 --> 00:08:31,320 Speaker 2: Affairs at the Democratic Governors Association. Great to see both 156 00:08:31,320 --> 00:08:33,520 Speaker 2: of you, and thanks for spending some time with us 157 00:08:33,520 --> 00:08:37,000 Speaker 2: today on Bloomberg. Mark, you have a very good sense 158 00:08:37,160 --> 00:08:40,080 Speaker 2: of the mindset of Donald Trump, having spent time in 159 00:08:40,120 --> 00:08:42,960 Speaker 2: the first administration. What is New York in for? We 160 00:08:43,000 --> 00:08:45,600 Speaker 2: talk about Trump proofing New York City? Do you think 161 00:08:45,640 --> 00:08:47,960 Speaker 2: he sends troops in? Does he cut funding? What's the 162 00:08:48,000 --> 00:08:49,080 Speaker 2: next lever he pulls? 163 00:08:49,320 --> 00:08:51,760 Speaker 8: No, I don't think I think that's more Mom, Donnie 164 00:08:51,760 --> 00:08:53,439 Speaker 8: play into Day's base. I don't think there needs to 165 00:08:53,440 --> 00:08:55,080 Speaker 8: be Trump proof I think Trump is invested in New 166 00:08:55,160 --> 00:08:57,199 Speaker 8: York because he has so much personal investments here in 167 00:08:57,280 --> 00:08:59,760 Speaker 8: personal properties that he wanted, you know, That's why he 168 00:08:59,800 --> 00:09:02,720 Speaker 8: was in for Cuomo. But I think that there is 169 00:09:02,760 --> 00:09:06,360 Speaker 8: a danger for publicans to kind of dismiss this and 170 00:09:06,480 --> 00:09:08,440 Speaker 8: say this is about the shutdown, or to say that 171 00:09:08,520 --> 00:09:12,000 Speaker 8: because Democrats elect a socialist mayor of New York City 172 00:09:12,120 --> 00:09:15,760 Speaker 8: or even somebody in Virginia who called for assassination of 173 00:09:15,760 --> 00:09:18,600 Speaker 8: a political opponent's family, that this is just a foil 174 00:09:18,679 --> 00:09:21,280 Speaker 8: for us moving forward. I think that is true. Some 175 00:09:21,320 --> 00:09:23,960 Speaker 8: of these more radical candidates are a foil. But I 176 00:09:24,000 --> 00:09:26,679 Speaker 8: think the common thread throughout this was the issue of affordability. 177 00:09:26,960 --> 00:09:28,440 Speaker 8: And I think a lot of people like the Donald 178 00:09:28,480 --> 00:09:31,440 Speaker 8: Trump because they were concerned about the inflation the experience 179 00:09:31,520 --> 00:09:34,120 Speaker 8: under Biden, and they wanted it solved. And I think that, 180 00:09:34,200 --> 00:09:36,920 Speaker 8: you know, to your first segment here, this trade policy 181 00:09:36,960 --> 00:09:39,959 Speaker 8: has continued to make life unaffordable, and I think there 182 00:09:40,000 --> 00:09:42,079 Speaker 8: has to be a change in policy from the administration 183 00:09:42,160 --> 00:09:42,319 Speaker 8: on that. 184 00:09:42,480 --> 00:09:45,400 Speaker 2: Well. It is pretty remarkable that the same issue involving 185 00:09:45,440 --> 00:09:48,439 Speaker 2: costs and inflation of fear, the same issue that brought 186 00:09:48,440 --> 00:09:51,000 Speaker 2: Donald Trump back into the White House. In fact, the 187 00:09:51,040 --> 00:09:55,200 Speaker 2: same issue that put Zoron Mamdani into City Hall here 188 00:09:55,200 --> 00:09:57,400 Speaker 2: in New York. Is that a statement on the way 189 00:09:57,440 --> 00:10:01,960 Speaker 2: President Trump has handled tariffs and the economy, because the 190 00:10:02,000 --> 00:10:04,720 Speaker 2: polling shows that he's underwater with the American people on 191 00:10:04,760 --> 00:10:05,479 Speaker 2: that issue. 192 00:10:05,800 --> 00:10:08,160 Speaker 9: I think that that lane was totally open to both 193 00:10:08,200 --> 00:10:11,720 Speaker 9: Abigail and Mikey Cheryl last night in their landslide victories 194 00:10:11,720 --> 00:10:13,079 Speaker 9: that are going to be a lot of momentum for 195 00:10:13,120 --> 00:10:16,360 Speaker 9: Democrats because Trump has created this opening on the economy 196 00:10:16,360 --> 00:10:18,720 Speaker 9: and affordability. He simply has not lived up to his 197 00:10:18,800 --> 00:10:21,080 Speaker 9: day one promise to lower cost for the American people. 198 00:10:21,320 --> 00:10:23,559 Speaker 9: And I think last night the American people in Virginia, 199 00:10:23,559 --> 00:10:25,920 Speaker 9: New Jersey sent a really big message about how they 200 00:10:25,920 --> 00:10:27,640 Speaker 9: feel about that and who they pin the blame on. 201 00:10:27,760 --> 00:10:29,320 Speaker 9: And I think it's pretty clear that they feel that 202 00:10:29,360 --> 00:10:31,320 Speaker 9: Republicans own own the pain on this. 203 00:10:31,600 --> 00:10:33,560 Speaker 2: Well. You know, there are a lot of questions today 204 00:10:33,559 --> 00:10:36,040 Speaker 2: this day after Afira as to what would be the 205 00:10:36,120 --> 00:10:40,000 Speaker 2: unifying message for Democrats, And maybe it's just as simple 206 00:10:40,040 --> 00:10:43,680 Speaker 2: as that bring costs lower, the same issue that dogged 207 00:10:43,679 --> 00:10:46,800 Speaker 2: Democrats in the last administration. But when you have a 208 00:10:46,880 --> 00:10:51,120 Speaker 2: Zoron Mamdani, who in many cases has an approach that's 209 00:10:51,160 --> 00:10:55,360 Speaker 2: being rejected by moderate Democrats who won last night. How 210 00:10:55,400 --> 00:10:57,880 Speaker 2: do you rationalize this landscape for your party. 211 00:10:58,840 --> 00:11:01,480 Speaker 9: Well, I think cost carried the day, and even before 212 00:11:01,520 --> 00:11:05,240 Speaker 9: Donald Trump was reelected, Abigail Spinberger launcher campaign for governor 213 00:11:05,280 --> 00:11:08,200 Speaker 9: and was talking about costs in the economy and affordability. 214 00:11:08,240 --> 00:11:10,800 Speaker 9: And I think that's the roadmap for Democrats in the 215 00:11:10,960 --> 00:11:13,440 Speaker 9: midterms in twenty twenty six. And clearly there's a lot 216 00:11:13,440 --> 00:11:15,840 Speaker 9: of momentum here. We at the DDA certainly are going 217 00:11:15,880 --> 00:11:19,760 Speaker 9: to ride this wave into really putting our campaigns on offense, 218 00:11:19,800 --> 00:11:22,320 Speaker 9: and I think that'll mean that we're able to run 219 00:11:22,360 --> 00:11:25,120 Speaker 9: competitively in places that maybe we weren't thinking about before 220 00:11:25,720 --> 00:11:28,760 Speaker 9: expanding the mapp in places like Georgia, like Iowa, maybe 221 00:11:28,760 --> 00:11:31,319 Speaker 9: even Alaska. I think, because we did see last night, 222 00:11:31,400 --> 00:11:33,800 Speaker 9: that the American people are hungry for leaders who are 223 00:11:33,840 --> 00:11:36,080 Speaker 9: going to take action to deliver for them on the economy, 224 00:11:36,120 --> 00:11:39,080 Speaker 9: and Democratic governors in particular. I'm biased, as you know, Joe, 225 00:11:39,200 --> 00:11:41,040 Speaker 9: I think have a real record of delivering for that 226 00:11:41,120 --> 00:11:44,440 Speaker 9: on the economy, and I think the American people recognized 227 00:11:44,440 --> 00:11:45,760 Speaker 9: that last night resoundingly. 228 00:11:45,920 --> 00:11:49,120 Speaker 2: It's been said even on this program since we came 229 00:11:49,160 --> 00:11:52,360 Speaker 2: to air, mark that the mid term campaign cycle starts now. 230 00:11:53,080 --> 00:11:56,240 Speaker 2: So what is the Republican answer to what happened last night? 231 00:11:56,320 --> 00:11:58,719 Speaker 8: Well, look, I think America's like to say, Republicans have 232 00:11:58,760 --> 00:12:01,199 Speaker 8: the White House, the House, the Senate, and so it's 233 00:12:01,280 --> 00:12:03,400 Speaker 8: less the message on the Democrats. That's more of saying 234 00:12:03,480 --> 00:12:05,720 Speaker 8: if you're not fixing this affordability issue, that we're going 235 00:12:05,760 --> 00:12:08,000 Speaker 8: to make a change. I mean, you know, to the 236 00:12:08,040 --> 00:12:12,480 Speaker 8: Democrats campaign message, these same governors were in Congress supporting 237 00:12:12,520 --> 00:12:15,480 Speaker 8: Biden's massive spending the causes inflation. So it's not like 238 00:12:15,520 --> 00:12:18,480 Speaker 8: they're really pure on helping to control costs here. But 239 00:12:18,559 --> 00:12:21,120 Speaker 8: I think that naturally the American people are going to say, well, 240 00:12:21,160 --> 00:12:24,239 Speaker 8: which parties in control? And they're going to be expectations 241 00:12:24,280 --> 00:12:24,640 Speaker 8: they will. 242 00:12:24,559 --> 00:12:28,080 Speaker 1: You're listening to the Bloom Balance of Power podcasts. Catch 243 00:12:28,160 --> 00:12:34,600 Speaker 1: US Live weekdays at noon and five pm Eastern, So 244 00:12:34,679 --> 00:12:37,960 Speaker 1: listen on demand wherever you get your podcast, or watch 245 00:12:38,040 --> 00:12:39,319 Speaker 1: US live on into. 246 00:12:39,080 --> 00:12:41,680 Speaker 8: Instration of his trade blocks and begin to assert some 247 00:12:41,760 --> 00:12:43,640 Speaker 8: of that control back in their hands. 248 00:12:43,840 --> 00:12:46,040 Speaker 2: Well, if you're a president, Trump says it was the shutdown, 249 00:12:46,080 --> 00:12:47,600 Speaker 2: the fact that he was not on the ballot and 250 00:12:47,640 --> 00:12:51,240 Speaker 2: the shutdown that caused Republicans to lose last evening. Is 251 00:12:51,240 --> 00:12:52,160 Speaker 2: there any truth to that. 252 00:12:53,559 --> 00:12:55,559 Speaker 9: I think the American people were very clear it was 253 00:12:55,640 --> 00:12:57,800 Speaker 9: cost it was really was costs, and that they wanted 254 00:12:57,800 --> 00:13:00,920 Speaker 9: to see leaders who had plans on affordabil Mikey Cheryl 255 00:13:01,080 --> 00:13:03,560 Speaker 9: had a day one state of emergency plan to do 256 00:13:03,600 --> 00:13:06,760 Speaker 9: something about utility prices, which, talking to voters in New Jersey, 257 00:13:06,800 --> 00:13:08,800 Speaker 9: that's really on their minds. I talked to somebody who 258 00:13:08,840 --> 00:13:11,880 Speaker 9: had a utility bill last month of over one thousand dollars. 259 00:13:12,160 --> 00:13:15,880 Speaker 9: Abigail had plans on healthcare, lowing healthcare costs, energy costs, 260 00:13:16,080 --> 00:13:18,760 Speaker 9: housing costs. I know that's on the minds of people 261 00:13:18,840 --> 00:13:21,160 Speaker 9: every single day. And these kitchen table issues have really 262 00:13:21,200 --> 00:13:24,680 Speaker 9: been a roadmap for success for folks running statewide, and 263 00:13:24,720 --> 00:13:27,360 Speaker 9: I think that's something replicable for folks in our party 264 00:13:27,360 --> 00:13:29,640 Speaker 9: who are looking ahead to the midterms next year and 265 00:13:29,679 --> 00:13:31,360 Speaker 9: are looking for a message. I think that will really 266 00:13:31,400 --> 00:13:33,800 Speaker 9: be salient. And I'll just point out yesterday we saw 267 00:13:33,840 --> 00:13:37,559 Speaker 9: democratic shifts in almost every county in New Jersey and Virginia. 268 00:13:37,640 --> 00:13:39,800 Speaker 9: I think I spent a really big message about how 269 00:13:40,520 --> 00:13:43,160 Speaker 9: powerful the message that both Abigail and Mikey ran On 270 00:13:43,440 --> 00:13:46,960 Speaker 9: was and we also overcome historical precedent in New Jersey. 271 00:13:47,160 --> 00:13:50,880 Speaker 9: I don't want to let that point go unmet. We 272 00:13:50,960 --> 00:13:53,880 Speaker 9: had Republicans who invested big in those states. They were 273 00:13:53,920 --> 00:13:56,760 Speaker 9: supposed to be competitive races, and we had landside victories 274 00:13:56,760 --> 00:13:58,320 Speaker 9: in both of those states. I think that sends a 275 00:13:58,360 --> 00:14:00,840 Speaker 9: really big message about how people feel and what kind 276 00:14:00,880 --> 00:14:03,000 Speaker 9: of leaders they're looking for. I think Democratic governors in 277 00:14:03,000 --> 00:14:05,040 Speaker 9: particular have been really able to meet the moment on that. 278 00:14:05,160 --> 00:14:07,240 Speaker 2: Well. If the shutdown had an impact anywhere, it had 279 00:14:07,280 --> 00:14:10,079 Speaker 2: to be Virginia with the thousands of federal workers who 280 00:14:10,120 --> 00:14:12,319 Speaker 2: live there and have been furloughed or laid off, depending 281 00:14:12,320 --> 00:14:15,320 Speaker 2: on the case. But there was also a candidate quality issue. 282 00:14:15,360 --> 00:14:17,559 Speaker 2: If you ask people and you live in the Washington area, Mark, 283 00:14:17,600 --> 00:14:19,520 Speaker 2: you know Virginia, Jinia rest pretty well, You've got that, 284 00:14:19,600 --> 00:14:23,119 Speaker 2: and so am I look no further than the president's 285 00:14:23,400 --> 00:14:27,200 Speaker 2: former political advisor, Chris Losovita. A bad candidate and a 286 00:14:27,240 --> 00:14:31,080 Speaker 2: bad campaign have consequences the Virginia governor's races. Example number 287 00:14:31,080 --> 00:14:32,000 Speaker 2: one is that true. 288 00:14:32,360 --> 00:14:34,840 Speaker 8: Well, look, Chris was formerly the executive director of the 289 00:14:34,880 --> 00:14:38,200 Speaker 8: Republican Party of Virginia. He knows Virginia well. But I 290 00:14:38,240 --> 00:14:40,080 Speaker 8: think this is more of a cast blaming that the 291 00:14:40,080 --> 00:14:42,320 Speaker 8: administration doesn't want to have respots at least they want 292 00:14:42,320 --> 00:14:43,880 Speaker 8: to push the blame down on. 293 00:14:43,880 --> 00:14:46,320 Speaker 2: Some real series. Really never connected though, did she No? 294 00:14:46,480 --> 00:14:47,720 Speaker 2: I don't think she did. 295 00:14:47,760 --> 00:14:49,880 Speaker 8: But I think that there are other candidates in about like. 296 00:14:49,960 --> 00:14:52,040 Speaker 8: To me, the more shocking one is to see Jay 297 00:14:52,120 --> 00:14:55,600 Speaker 8: Jones overcome. I think a great candidate, Jason Yarra is 298 00:14:55,640 --> 00:14:58,720 Speaker 8: despite his text change about. 299 00:14:58,680 --> 00:15:00,640 Speaker 2: That relate a political marketable results. 300 00:15:00,760 --> 00:15:04,320 Speaker 8: So I think that this was less about how far 301 00:15:04,440 --> 00:15:07,320 Speaker 8: left or how moderate were you. This was again about 302 00:15:07,320 --> 00:15:10,480 Speaker 8: an issue of people still feeling like there's no affordability issue, 303 00:15:10,480 --> 00:15:12,880 Speaker 8: and that I think was driving the message. I think 304 00:15:12,920 --> 00:15:14,320 Speaker 8: Republicans need to address that. 305 00:15:14,400 --> 00:15:17,360 Speaker 2: Yeah, I'm really glad that Mark mentioned j Jones Offira. 306 00:15:17,440 --> 00:15:18,960 Speaker 2: What do you make of this? Does it say more 307 00:15:18,960 --> 00:15:21,800 Speaker 2: about the strength of Abigail Spanberger that everybody rolled the 308 00:15:21,800 --> 00:15:25,000 Speaker 2: coattails to victory or was that the check on Trump 309 00:15:25,560 --> 00:15:27,760 Speaker 2: as his ads promised that Virginia wanted. 310 00:15:28,840 --> 00:15:28,960 Speaker 3: Well. 311 00:15:29,000 --> 00:15:31,480 Speaker 9: I think Abigail Spenberger sent a really big message last 312 00:15:31,520 --> 00:15:34,320 Speaker 9: night and clearly had cotails up and down the ballot. 313 00:15:34,400 --> 00:15:37,440 Speaker 9: Last night we saw huge gains in the House of Delegates. 314 00:15:37,680 --> 00:15:39,400 Speaker 9: I think that's going to mean a lot of progress 315 00:15:39,400 --> 00:15:41,920 Speaker 9: for folks in Virginia. But I would be risk if 316 00:15:41,960 --> 00:15:44,000 Speaker 9: I did not point out to Mark's point on wins 317 00:15:44,000 --> 00:15:46,480 Speaker 9: and seers, the RGA spent just as much money on 318 00:15:46,520 --> 00:15:49,000 Speaker 9: electing her as they did Glenn youngin and I think 319 00:15:49,120 --> 00:15:50,800 Speaker 9: that really does go to show that they thought she 320 00:15:50,920 --> 00:15:53,440 Speaker 9: was a candidate who could maybe make the difference. And 321 00:15:53,480 --> 00:15:56,280 Speaker 9: so I think it really is a question of what 322 00:15:56,400 --> 00:15:58,560 Speaker 9: her focus was. It was not the economy. Time and 323 00:15:58,560 --> 00:16:01,080 Speaker 9: time again, Abigail was filling that lane talking about how 324 00:16:01,080 --> 00:16:02,680 Speaker 9: she was going to lower coross over Virginians, and I 325 00:16:02,720 --> 00:16:06,120 Speaker 9: think that's why she carried the day pretty resoundingly last night. 326 00:16:06,520 --> 00:16:09,480 Speaker 2: Wow, we haven't talked about California yet in PROMP fifty. 327 00:16:09,720 --> 00:16:12,600 Speaker 2: You were the Legislative Affairs director in the first Trump administration. 328 00:16:12,760 --> 00:16:15,400 Speaker 2: You know what it's like to deal with this season 329 00:16:15,640 --> 00:16:18,680 Speaker 2: that just opened in Congress. When you start rewriting maps 330 00:16:18,800 --> 00:16:21,680 Speaker 2: all over the country, How difficult will it be for 331 00:16:21,920 --> 00:16:25,360 Speaker 2: Republicans to get their arms around new districts and know 332 00:16:25,480 --> 00:16:26,680 Speaker 2: where to invest. 333 00:16:27,200 --> 00:16:30,920 Speaker 8: I've always been a skeptic on this strategy because they're 334 00:16:30,920 --> 00:16:33,600 Speaker 8: based on the twenty four map and what happened in 335 00:16:33,640 --> 00:16:36,800 Speaker 8: twenty four and when the Democrats put forward an incredibly 336 00:16:36,800 --> 00:16:40,040 Speaker 8: weak candidate after four bad years, there was a lot 337 00:16:40,080 --> 00:16:42,600 Speaker 8: of people who crossed over and supported Trump, wanting to 338 00:16:42,640 --> 00:16:45,400 Speaker 8: secure the border and wanting to restore the economy that 339 00:16:45,400 --> 00:16:47,880 Speaker 8: he had in the first administration. That doesn't mean they're 340 00:16:47,920 --> 00:16:50,680 Speaker 8: reliable Republican voters. So when you're joining a map like 341 00:16:50,720 --> 00:16:54,240 Speaker 8: in Texas, because many Hispanics I think were really concerned 342 00:16:54,240 --> 00:16:57,240 Speaker 8: about what was happening at the border, they then are 343 00:16:57,240 --> 00:16:59,200 Speaker 8: not necessarily going to say, hey, I'm a re liable 344 00:16:59,200 --> 00:17:02,240 Speaker 8: Republican voter necessarily in twenty six and if you're drawing 345 00:17:02,280 --> 00:17:05,199 Speaker 8: maps based on that, there's a lot of concern. I 346 00:17:05,200 --> 00:17:07,520 Speaker 8: think you have the other irritation that for other Americans 347 00:17:07,560 --> 00:17:09,119 Speaker 8: look at say hey, wait, this is supposed to be 348 00:17:09,119 --> 00:17:12,560 Speaker 8: done every ten years. And so I think then maybe 349 00:17:12,600 --> 00:17:15,360 Speaker 8: you'll see some backing off of the redistricting in other states. 350 00:17:15,400 --> 00:17:17,680 Speaker 2: Interesting, but fear, we've got less than a minute left, 351 00:17:17,680 --> 00:17:20,360 Speaker 2: thirty seconds. It was set on this program more than 352 00:17:20,400 --> 00:17:23,320 Speaker 2: once that if Gavin Newsom got Prop fifty across the 353 00:17:23,320 --> 00:17:26,080 Speaker 2: finish line, he'd be the Democratic nominee for president in 354 00:17:26,119 --> 00:17:27,760 Speaker 2: twenty eight What do you think. 355 00:17:29,040 --> 00:17:31,080 Speaker 9: I think the elections I'm focused on, Dree are the 356 00:17:31,080 --> 00:17:34,840 Speaker 9: ones coming up in But we're obviously really proud of 357 00:17:34,840 --> 00:17:38,000 Speaker 9: the leadership of Governor Newsom in California. And I would 358 00:17:38,080 --> 00:17:40,199 Speaker 9: zoom out and say that I think Republicans brought us 359 00:17:40,200 --> 00:17:42,320 Speaker 9: on this path of redistricting because they know that they've 360 00:17:42,359 --> 00:17:45,600 Speaker 9: taken on a really deeply unpopular, toxic agenda, and the 361 00:17:45,640 --> 00:17:47,760 Speaker 9: American people last night's and a really big message about 362 00:17:47,800 --> 00:17:48,480 Speaker 9: what they think about it. 363 00:17:48,560 --> 00:17:50,880 Speaker 2: So you have it from both sides of the aisle 364 00:17:50,920 --> 00:17:53,159 Speaker 2: this day after Well done, Mark and Ofira. Great to 365 00:17:53,160 --> 00:17:55,520 Speaker 2: see you both as always here on Balance of Power 366 00:17:55,560 --> 00:17:58,119 Speaker 2: on Bloomberg. Coming up New York City Mayor elect Zoran 367 00:17:58,200 --> 00:18:02,160 Speaker 2: Mamdani continuing his victory lab after last evening's results. We'll 368 00:18:02,160 --> 00:18:04,800 Speaker 2: have more from our political panel next on Balance of Power. 369 00:18:06,000 --> 00:18:09,480 Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch 370 00:18:09,520 --> 00:18:12,600 Speaker 1: us live weekdays at noon and five pm Eastern on 371 00:18:12,720 --> 00:18:15,960 Speaker 1: Apple Cockway and Android Auto with the Bloomberg Business app. 372 00:18:16,000 --> 00:18:19,000 Speaker 1: You can also listen live on Amazon Alexa from our 373 00:18:19,040 --> 00:18:24,200 Speaker 1: flagship New York station, Just say Alexa Play Bloomberg eleven thirty. 374 00:18:25,240 --> 00:18:27,800 Speaker 2: New York is where we start with our political panel, 375 00:18:27,920 --> 00:18:30,560 Speaker 2: and by New York I mean Manhattan, the mayoral race 376 00:18:30,600 --> 00:18:35,240 Speaker 2: that brought Zoron Mamdani, the Democratic Socialist, to a resounding 377 00:18:35,359 --> 00:18:38,560 Speaker 2: victory last evening, calling into question what will be the 378 00:18:38,680 --> 00:18:41,960 Speaker 2: unifying message for Democrats as we now begin the race 379 00:18:42,520 --> 00:18:46,360 Speaker 2: to the midterms today? Is it the Democratic Socialist approach 380 00:18:46,920 --> 00:18:49,520 Speaker 2: here in New York City that won the day clearly? 381 00:18:49,640 --> 00:18:54,440 Speaker 2: Mamdani promising lower costs, as did Mikey Cheryl, the moderate 382 00:18:54,520 --> 00:18:58,600 Speaker 2: Democrat who won the governor's race last evening in New Jersey, 383 00:18:58,640 --> 00:19:01,400 Speaker 2: but with a very different approach to handling prices. Let's 384 00:19:01,440 --> 00:19:03,719 Speaker 2: go back to last evening in both races. 385 00:19:05,280 --> 00:19:09,199 Speaker 4: For as long as we can remember, the working people 386 00:19:09,280 --> 00:19:12,399 Speaker 4: of New York have been told by the wealthy and 387 00:19:12,440 --> 00:19:15,840 Speaker 4: the well connected that power does not belong in their hands. 388 00:19:16,000 --> 00:19:19,840 Speaker 10: Here in New Jersey, we know that this nation has 389 00:19:19,920 --> 00:19:29,000 Speaker 10: not ever been, nor will it ever be, ruled by kings. 390 00:19:30,960 --> 00:19:33,480 Speaker 10: We take oaths to a constitution, not a king. 391 00:19:34,880 --> 00:19:38,800 Speaker 2: Joining us now our political panel. Bloomberg Politics contributor Geenie Shanzino, 392 00:19:38,920 --> 00:19:42,080 Speaker 2: visiting Democracy Fellow at Harvard Kennedy School's Ash Center, Our 393 00:19:42,119 --> 00:19:46,359 Speaker 2: democratic analyst alongside Republican strategist Marg Gillespie, the founder of 394 00:19:46,440 --> 00:19:50,119 Speaker 2: Bluestack Strategies. Great to see you both here, Genie. We 395 00:19:50,200 --> 00:19:53,440 Speaker 2: could have gone on and continued to play Abigail Spanberger 396 00:19:53,440 --> 00:19:55,480 Speaker 2: from last evening as well, and I would ask you 397 00:19:56,040 --> 00:19:59,760 Speaker 2: which of these messages wins the midterms for Democrats nationally. 398 00:20:00,160 --> 00:20:01,919 Speaker 11: I think we're going to have to wait and see, 399 00:20:01,960 --> 00:20:05,000 Speaker 11: because the reality is now is they have to deliver, 400 00:20:05,280 --> 00:20:09,720 Speaker 11: and so if Mundani can deliver on these promises, that 401 00:20:09,840 --> 00:20:13,800 Speaker 11: may be a pathway forward for some Democrats. But I 402 00:20:13,960 --> 00:20:17,000 Speaker 11: think his message is a very specific message to New 403 00:20:17,119 --> 00:20:20,960 Speaker 11: York City. And I think the contrast between the two women, 404 00:20:21,200 --> 00:20:25,320 Speaker 11: Cheryl and span Berger, their sort of centrist national security approach, 405 00:20:26,359 --> 00:20:30,520 Speaker 11: that is probably the pathway where the Democratic Party will go. 406 00:20:30,800 --> 00:20:32,760 Speaker 11: But again, we're going to have to wait and see. 407 00:20:32,800 --> 00:20:35,440 Speaker 11: I think the beauty of this is they have these 408 00:20:35,480 --> 00:20:39,680 Speaker 11: divergent pathways. It is a big tent party and they 409 00:20:39,720 --> 00:20:43,800 Speaker 11: are all focused on the same thing, which is costs, affordability, 410 00:20:43,880 --> 00:20:47,040 Speaker 11: cost of living. You know, one of the shocking statistics 411 00:20:47,080 --> 00:20:50,560 Speaker 11: I heard recently Joe was if you are a young person, 412 00:20:51,040 --> 00:20:53,960 Speaker 11: you will on average not buy your first house until 413 00:20:54,000 --> 00:20:57,720 Speaker 11: you are forty years old, and that for many young 414 00:20:57,760 --> 00:20:59,840 Speaker 11: people sounds like you're not buying it until you're middle 415 00:21:00,400 --> 00:21:03,120 Speaker 11: I'm very sorry to say, but I think it speaks 416 00:21:03,160 --> 00:21:06,919 Speaker 11: to why, particularly in a very expensive area, Mam Donnie 417 00:21:07,119 --> 00:21:10,920 Speaker 11: is resonating. But they're all focused on these issues of 418 00:21:11,000 --> 00:21:14,560 Speaker 11: making life more affordable, and so I think whoever can 419 00:21:14,600 --> 00:21:16,400 Speaker 11: get there will be a pathway forward. 420 00:21:16,560 --> 00:21:18,760 Speaker 2: The fact of the matter is, though Zoraon Mamdani did 421 00:21:18,760 --> 00:21:22,280 Speaker 2: not have a significant Republican challenger in New York, do 422 00:21:22,359 --> 00:21:25,640 Speaker 2: you think that would have changed the outcome of this 423 00:21:25,760 --> 00:21:28,359 Speaker 2: race or meant a more narrow gap, because what we 424 00:21:28,440 --> 00:21:32,520 Speaker 2: saw in Virginia and New Jersey, certainly New Jersey with 425 00:21:32,640 --> 00:21:36,960 Speaker 2: a significant Republican challenger, it was the moderate Democratic message 426 00:21:36,960 --> 00:21:37,359 Speaker 2: that worked. 427 00:21:37,800 --> 00:21:40,240 Speaker 11: Yeah, you know, we don't know what would have happened 428 00:21:40,280 --> 00:21:43,199 Speaker 11: had they had a stronger Republican candidate or had the 429 00:21:43,880 --> 00:21:47,280 Speaker 11: establishment wing of the Democratic Party put up a stronger candidate. 430 00:21:48,000 --> 00:21:50,760 Speaker 11: But the reality is the margins, as you mentioned in 431 00:21:50,800 --> 00:21:55,440 Speaker 11: New Jersey and in Virginia, suggest that people are frustrated 432 00:21:55,480 --> 00:21:59,080 Speaker 11: with the status quo and the Republicans, and this was 433 00:21:59,119 --> 00:22:01,959 Speaker 11: a very strong message to Donald Trump. And what has 434 00:22:02,000 --> 00:22:05,520 Speaker 11: happened in the last ten months, particularly as it pertains 435 00:22:05,560 --> 00:22:09,679 Speaker 11: to the economy. But again, now Mumdani is going to 436 00:22:09,760 --> 00:22:12,119 Speaker 11: have to put up. He is going to have to 437 00:22:12,200 --> 00:22:14,399 Speaker 11: show up, and he is going to have to show 438 00:22:14,680 --> 00:22:17,679 Speaker 11: that he can deliver. This is all about delivery. And 439 00:22:17,760 --> 00:22:20,480 Speaker 11: also I think in all areas they can't do what 440 00:22:20,560 --> 00:22:23,880 Speaker 11: Donald Trump has done overread a mandate. They won by 441 00:22:23,920 --> 00:22:27,000 Speaker 11: big margins. But they've got to focus narrowly on what 442 00:22:27,080 --> 00:22:29,280 Speaker 11: they promised to do for their constituents. 443 00:22:29,359 --> 00:22:32,240 Speaker 2: So mora, let's bring you in here with the Republican answer. 444 00:22:32,320 --> 00:22:35,880 Speaker 2: What would you rather run against a socialist who has 445 00:22:35,960 --> 00:22:39,359 Speaker 2: great energy and momentum or a moderate who can appeal 446 00:22:39,400 --> 00:22:41,960 Speaker 2: to independence easily? 447 00:22:42,040 --> 00:22:43,800 Speaker 9: The mum Donnie, I mean, I think that when you 448 00:22:43,800 --> 00:22:45,840 Speaker 9: look at his campaign, it's also going to be something 449 00:22:45,920 --> 00:22:48,280 Speaker 9: to watch out. Whereas which version of him what we 450 00:22:48,320 --> 00:22:50,240 Speaker 9: get as mayor of New York City. You know, the 451 00:22:50,280 --> 00:22:52,800 Speaker 9: person who has been running tried to tone down his 452 00:22:52,960 --> 00:22:55,800 Speaker 9: rhetoric and try to you know, almost caveat some of 453 00:22:55,800 --> 00:22:57,719 Speaker 9: the things that he has said in the past to 454 00:22:57,720 --> 00:23:01,119 Speaker 9: make sure he get through. People voted for Andrew Cuomo 455 00:23:01,240 --> 00:23:03,399 Speaker 9: not because they liked Andrew Cuomo. They voted for him 456 00:23:03,400 --> 00:23:05,239 Speaker 9: because they were scared of Mndammi. And that's really what 457 00:23:05,400 --> 00:23:08,000 Speaker 9: happened last night. And I think, you know, Curtis Leela, 458 00:23:09,560 --> 00:23:12,800 Speaker 9: you know, I won't even go there. But that's the 459 00:23:12,960 --> 00:23:15,760 Speaker 9: reflection that Democrats had to look at, is what does 460 00:23:15,800 --> 00:23:18,199 Speaker 9: that say for them as a party? Yes, Genie's right, 461 00:23:18,240 --> 00:23:19,719 Speaker 9: and that they are trying to appeal as a big 462 00:23:19,800 --> 00:23:23,040 Speaker 9: ten because there's this opportunity to take dissatisfyed Republicans and 463 00:23:23,080 --> 00:23:24,960 Speaker 9: bring them into the fold if they can, But they 464 00:23:25,000 --> 00:23:27,240 Speaker 9: can't do that with Dommi as like their center point. 465 00:23:27,359 --> 00:23:30,280 Speaker 9: So I do think you're going to see campaigns on 466 00:23:30,320 --> 00:23:33,400 Speaker 9: the Republican side really hoping to be able to capitalize 467 00:23:33,440 --> 00:23:35,240 Speaker 9: on the New York City's newest mayor. 468 00:23:35,320 --> 00:23:39,680 Speaker 2: What did you make of mom Donnie's speech talking about 469 00:23:39,720 --> 00:23:42,720 Speaker 2: the fact that Andrew Cuomo's public life is over. He 470 00:23:42,800 --> 00:23:45,080 Speaker 2: went so far as to say that that'll be the 471 00:23:45,160 --> 00:23:50,000 Speaker 2: last time he ever says his name again. People in 472 00:23:50,040 --> 00:23:53,000 Speaker 2: the room loved it. How did that echo across Manhattan. 473 00:23:53,280 --> 00:23:55,520 Speaker 11: It's one of the things that is concerning to me. 474 00:23:55,640 --> 00:23:59,399 Speaker 11: I described it as bowls ondacious. Anybody who thought he 475 00:23:59,520 --> 00:24:03,159 Speaker 11: was gonna mind that speech starting with Eugene b Debbs 476 00:24:03,480 --> 00:24:09,240 Speaker 11: The Socialist twice, quoting Mario Cuomo, he spoke directly to 477 00:24:09,320 --> 00:24:11,679 Speaker 11: Donald Trump. Turn up the volume, he said, I know 478 00:24:11,720 --> 00:24:14,560 Speaker 11: you're watching. I mean it was bold. I think he 479 00:24:14,720 --> 00:24:18,320 Speaker 11: is responding to this push from Democrats, his constituents, who 480 00:24:18,359 --> 00:24:21,040 Speaker 11: have been wanting for the last ten to twelve months 481 00:24:21,040 --> 00:24:24,360 Speaker 11: somebody to take on Donald Trump. But I think as 482 00:24:24,400 --> 00:24:28,159 Speaker 11: you talk about appealing to Democrats more broadly across the country, 483 00:24:28,200 --> 00:24:30,359 Speaker 11: which obviously he doesn't have to do right now. But 484 00:24:30,440 --> 00:24:34,680 Speaker 11: the question is can you deliver? But I don't think 485 00:24:34,800 --> 00:24:38,760 Speaker 11: we should at all cast aside what is an absolutely 486 00:24:38,920 --> 00:24:43,120 Speaker 11: meteoric rise on the behalf of Zorn Mundani. A year ago, 487 00:24:43,200 --> 00:24:46,119 Speaker 11: nobody knew who he was, and he organized and he 488 00:24:46,240 --> 00:24:49,920 Speaker 11: put together a coalition and he delivered. Now in fact, 489 00:24:49,960 --> 00:24:53,480 Speaker 11: people are talking about the Donald Trump Zorn Mandani voter Joe. 490 00:24:53,800 --> 00:24:56,040 Speaker 11: That tells you how far we have come in the last. 491 00:24:55,840 --> 00:24:57,320 Speaker 2: He did pick up a couple of them. 492 00:24:57,320 --> 00:24:57,680 Speaker 7: He did. 493 00:24:57,760 --> 00:24:59,960 Speaker 2: This is a real thing. Was it a missed opportunity? 494 00:25:00,040 --> 00:25:02,840 Speaker 2: Though in that speech Maura to not reach across the aisle. 495 00:25:04,320 --> 00:25:06,840 Speaker 9: I don't think it's his focus, right, He's not necessarily 496 00:25:06,880 --> 00:25:10,240 Speaker 9: focused on that. This also shows that his inexperience and 497 00:25:10,560 --> 00:25:13,280 Speaker 9: the fact that this is the emotions clearly got to 498 00:25:13,320 --> 00:25:16,280 Speaker 9: him last night and he felt compelled to be which 499 00:25:16,280 --> 00:25:18,240 Speaker 9: we saw a little bit in the debate where his 500 00:25:18,840 --> 00:25:21,080 Speaker 9: you know, presence on stage was pretty smug at times, 501 00:25:21,320 --> 00:25:23,240 Speaker 9: I'd say most of the time, but my opinion, but 502 00:25:23,640 --> 00:25:25,399 Speaker 9: I think that was what came through in his speech 503 00:25:25,480 --> 00:25:28,240 Speaker 9: last night. And so no, I don't think he's seeking 504 00:25:28,280 --> 00:25:29,880 Speaker 9: out a way to be part of the Democratic Party. 505 00:25:29,880 --> 00:25:32,600 Speaker 9: I think he has his own agenda and Democrats and 506 00:25:32,600 --> 00:25:35,800 Speaker 9: that's why you saw people really hesitant to give him endorsements. 507 00:25:35,840 --> 00:25:40,280 Speaker 9: They really were apprehensive at best. I mean even Hakim Jeffries, 508 00:25:40,320 --> 00:25:43,639 Speaker 9: the minority leader, you know, he gave a tepid endorsement. 509 00:25:44,280 --> 00:25:47,960 Speaker 9: Chuck Schumer refused to Barack Obama also struggled in that department. 510 00:25:48,040 --> 00:25:51,280 Speaker 9: So I think that the Democrats are still feeling it out, 511 00:25:51,320 --> 00:25:54,320 Speaker 9: but they have a bigger issue looking ahead to the 512 00:25:54,320 --> 00:25:56,280 Speaker 9: twenty twenty six men terms of how to galvanize people 513 00:25:56,359 --> 00:25:57,800 Speaker 9: the way that he did, and I think it starts 514 00:25:57,800 --> 00:26:00,439 Speaker 9: by going and meeting people where they are talking to them, 515 00:26:00,520 --> 00:26:03,240 Speaker 9: doing the grassroots approach and really getting into the weeds 516 00:26:03,240 --> 00:26:06,159 Speaker 9: of the issues. But with people directly, and that's what 517 00:26:06,200 --> 00:26:08,160 Speaker 9: they need to be focused on. And a sod of Republicans. 518 00:26:08,160 --> 00:26:11,240 Speaker 9: I mean again, I'm a Republican Republican and I think 519 00:26:11,240 --> 00:26:14,440 Speaker 9: that our messaging has struggled to focus on the affordability. 520 00:26:14,480 --> 00:26:17,239 Speaker 9: And it's where I'm hoping that Democrats like Senator or 521 00:26:17,280 --> 00:26:20,520 Speaker 9: like Senator Donathune will direct his colleagues to say, let's 522 00:26:20,520 --> 00:26:24,000 Speaker 9: talk to our constituents and maybe distance ourselves a little 523 00:26:24,000 --> 00:26:25,480 Speaker 9: bit from what the president's agenda has been. 524 00:26:25,720 --> 00:26:29,639 Speaker 2: Well, it's interesting what Genie just said. What is the 525 00:26:29,760 --> 00:26:34,400 Speaker 2: Trump mom Donnie voter? We saw him pick up realizing 526 00:26:34,440 --> 00:26:37,320 Speaker 2: it in the single digits pick up Trump voters here 527 00:26:37,359 --> 00:26:40,040 Speaker 2: in New York. Does that have to do with a 528 00:26:40,080 --> 00:26:43,879 Speaker 2: certain style, not being a typical politician out of central 529 00:26:43,920 --> 00:26:46,080 Speaker 2: casting or does it actually involve issues. 530 00:26:46,400 --> 00:26:48,840 Speaker 9: I think it involves the fact that you're reaching someone, 531 00:26:48,920 --> 00:26:52,040 Speaker 9: you're being polarizing. Again, they have so much similarities. They've 532 00:26:52,040 --> 00:26:55,200 Speaker 9: been able to tap into what people's fears are. They've 533 00:26:55,200 --> 00:26:58,320 Speaker 9: been able to tap into their concerns. And when you 534 00:26:58,320 --> 00:27:00,879 Speaker 9: talked about Mji mentioned that people aren't going to be 535 00:27:00,880 --> 00:27:03,160 Speaker 9: able to buy a home until or forty. Millennials are 536 00:27:03,560 --> 00:27:05,760 Speaker 9: there's been polls that show that they are the highest 537 00:27:05,840 --> 00:27:07,920 Speaker 9: educated population, but yet the little ow is paid. 538 00:27:08,320 --> 00:27:09,720 Speaker 7: That's just a problem. 539 00:27:09,760 --> 00:27:11,200 Speaker 9: And so a lot of the people who were voted 540 00:27:11,240 --> 00:27:13,840 Speaker 9: for mom DOMI also probably voted for Trump in the 541 00:27:13,840 --> 00:27:16,640 Speaker 9: sense that they're looking for somebody who's promising them affordability, 542 00:27:16,800 --> 00:27:19,920 Speaker 9: promising them a brighter future that they currently have as 543 00:27:19,920 --> 00:27:22,280 Speaker 9: far as the financial stability that they're seeking to get 544 00:27:22,320 --> 00:27:25,240 Speaker 9: and currently can't find it attainable. So really that's what's 545 00:27:25,320 --> 00:27:28,520 Speaker 9: been tapped into. Unfortunately, I think that we're being misled 546 00:27:28,520 --> 00:27:31,040 Speaker 9: by both Trump and mom Dommy because they had big 547 00:27:31,080 --> 00:27:34,199 Speaker 9: promises that sound great, but when it comes down to 548 00:27:34,720 --> 00:27:37,360 Speaker 9: how will this actually happen, it's not there. 549 00:27:37,560 --> 00:27:39,080 Speaker 2: Well, it sounds like maybe they have a lot in 550 00:27:39,080 --> 00:27:40,560 Speaker 2: commonventing they do. 551 00:27:40,640 --> 00:27:42,800 Speaker 11: And another thing that struck me, and I don't know 552 00:27:42,800 --> 00:27:45,199 Speaker 11: if this struck you in more last night when you 553 00:27:45,240 --> 00:27:49,199 Speaker 11: looked at that party they were having, there was a 554 00:27:49,280 --> 00:27:52,240 Speaker 11: DJ on stage. We're hearing a lot of talk today 555 00:27:52,280 --> 00:27:55,719 Speaker 11: that about the one hundred thousand volunteers for the campaign, 556 00:27:55,800 --> 00:28:00,439 Speaker 11: which is astonishing. That was a campaign in which people 557 00:28:00,600 --> 00:28:03,679 Speaker 11: gen z Ers, in particular, it was an antecdote to 558 00:28:03,760 --> 00:28:07,320 Speaker 11: their loneliness. That's how it's being described. And we hear 559 00:28:07,520 --> 00:28:10,439 Speaker 11: similar things on the other side with Donald Trump and 560 00:28:10,480 --> 00:28:13,639 Speaker 11: with formerly Charlie Kirk and the ability to reach people 561 00:28:13,960 --> 00:28:17,440 Speaker 11: and really speak to them as more was just talking about. 562 00:28:17,600 --> 00:28:20,760 Speaker 11: So I think that that is something that truly does 563 00:28:20,880 --> 00:28:24,640 Speaker 11: get out people who otherwise tend to stay home. I mean, 564 00:28:25,000 --> 00:28:27,439 Speaker 11: we had over two million people turn out in New 565 00:28:27,520 --> 00:28:30,800 Speaker 11: York City that goes back to the nineteen sixties. A 566 00:28:30,960 --> 00:28:34,920 Speaker 11: million of them voted for Zorn Mandani, who becomes this 567 00:28:35,040 --> 00:28:41,200 Speaker 11: first Muslim, first youngest in a century leader, but really 568 00:28:41,240 --> 00:28:44,920 Speaker 11: appealing to people where they sit, and including those young 569 00:28:45,360 --> 00:28:49,840 Speaker 11: male Latino and people of color who have been disenfranchised 570 00:28:49,880 --> 00:28:52,000 Speaker 11: from a world that they think doesn't speak to them 571 00:28:52,000 --> 00:28:53,160 Speaker 11: and that they don't recognize. 572 00:28:53,240 --> 00:28:56,080 Speaker 2: Well, we're learning a lot and raising new questions just 573 00:28:56,440 --> 00:28:59,400 Speaker 2: twenty four hours later, and I appreciate both of you, 574 00:29:00,600 --> 00:29:03,880 Speaker 2: Mora Gillespie for a great conversation. We appreciate your insights here. 575 00:29:05,400 --> 00:29:07,600 Speaker 2: Stay with us on Balance of Power. We'll have much 576 00:29:07,640 --> 00:29:08,840 Speaker 2: more coming up after this. 577 00:29:11,320 --> 00:29:14,800 Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch 578 00:29:14,880 --> 00:29:17,920 Speaker 1: us live weekdays at noon and five pm Eastern on 579 00:29:18,040 --> 00:29:21,280 Speaker 1: Apple Cocklay and Android Auto with the Bloomberg Business app. 580 00:29:21,320 --> 00:29:24,320 Speaker 1: You can also listen live on Amazon Alexa from our 581 00:29:24,360 --> 00:29:30,520 Speaker 1: flagship New York station, Just Say Alexa played Bloomberg eleven thirty. 582 00:29:30,640 --> 00:29:33,239 Speaker 2: Picking up the pieces here from quite an election night, 583 00:29:33,280 --> 00:29:35,160 Speaker 2: and we've been talking a lot about what happened here 584 00:29:35,200 --> 00:29:37,640 Speaker 2: in New York last evening, the mayoral race, as well 585 00:29:37,920 --> 00:29:41,160 Speaker 2: as the gubernatorial contest in New Jersey and Virginia Prop 586 00:29:41,200 --> 00:29:44,120 Speaker 2: fifty in California. We put them all together now on 587 00:29:44,200 --> 00:29:46,600 Speaker 2: a conversation. We've been looking forward to you with Republican 588 00:29:46,680 --> 00:29:49,719 Speaker 2: Congressman Nick lo Lota of New York. He's with us 589 00:29:49,720 --> 00:29:52,720 Speaker 2: live on Bloomberg and Congressman, we welcome you back. I 590 00:29:52,800 --> 00:29:55,960 Speaker 2: know that you're probably questioning what took place last evening 591 00:29:56,000 --> 00:29:58,640 Speaker 2: in Manhattan. Have you made plans to move out of 592 00:29:58,640 --> 00:29:59,240 Speaker 2: the state yet? 593 00:30:00,360 --> 00:30:02,960 Speaker 6: Now I hunker down here on Long Island, My constituents 594 00:30:02,960 --> 00:30:07,160 Speaker 6: and I are quite anxious as to what socialist Zoron 595 00:30:07,280 --> 00:30:09,360 Speaker 6: Mondami will do when New York City. Of course, he 596 00:30:09,440 --> 00:30:13,000 Speaker 6: campaigned on a lot of wacky ideas. He's an anti Semit, 597 00:30:13,120 --> 00:30:16,120 Speaker 6: he wants to raise taxes by nine billion dollars. He 598 00:30:16,200 --> 00:30:20,320 Speaker 6: called the NYPDA racist institution. He has this idea that's 599 00:30:20,360 --> 00:30:24,480 Speaker 6: failed everywhere else about government run grocery stores. We here 600 00:30:24,560 --> 00:30:26,880 Speaker 6: on Long Island and elsewhere in New York State are 601 00:30:26,920 --> 00:30:31,640 Speaker 6: anxious about that what will be caused by those policy initiatives. 602 00:30:31,680 --> 00:30:34,360 Speaker 6: We fear that too many people will leave New York City, 603 00:30:34,440 --> 00:30:37,920 Speaker 6: especially wealthy folks, will flee to red or low tax 604 00:30:37,960 --> 00:30:41,600 Speaker 6: states like Florida, like the Carolinas, like Texas now, and 605 00:30:41,640 --> 00:30:45,480 Speaker 6: when they leave and the government doesn't stop spending, the 606 00:30:45,520 --> 00:30:47,640 Speaker 6: rest of us are going to be held holding the bag. 607 00:30:48,200 --> 00:30:52,480 Speaker 6: And that's an unfortunate occurrence that I hope that Kathy Hokeel, 608 00:30:52,520 --> 00:30:55,880 Speaker 6: despite endorsing Zoron Mondami, puts a stop to. She has 609 00:30:55,920 --> 00:30:58,440 Speaker 6: the ability to stop a lot of these crazy ideas 610 00:30:58,440 --> 00:31:01,880 Speaker 6: at the state level. A lot of require state enabling legislation. 611 00:31:02,400 --> 00:31:06,080 Speaker 6: I hope that Gavi Hockel, who endorsed zoramban Nabi, comes 612 00:31:06,120 --> 00:31:08,480 Speaker 6: to her senses and puts a stop to the socialism. 613 00:31:08,600 --> 00:31:10,840 Speaker 2: Well, you're clearly not a fan, and I know that 614 00:31:10,920 --> 00:31:12,600 Speaker 2: Zora and Mamdani, I don't want to get too far 615 00:31:12,640 --> 00:31:15,480 Speaker 2: into this, has said repeatedly that he's not an anti Semite. 616 00:31:15,520 --> 00:31:19,280 Speaker 2: He has been very critical of the Israeli government. I'm 617 00:31:19,280 --> 00:31:22,280 Speaker 2: just wondering what you think the response for President Trump 618 00:31:22,280 --> 00:31:25,720 Speaker 2: will be. He has promised to pull federal funding from Manhattan, 619 00:31:26,000 --> 00:31:28,440 Speaker 2: and as a New Yorker, I guess and that's going 620 00:31:28,520 --> 00:31:30,400 Speaker 2: to be a problem for you. Was that a threat 621 00:31:30,480 --> 00:31:31,520 Speaker 2: or something you're worried about. 622 00:31:32,320 --> 00:31:34,440 Speaker 6: Well, I want to fight for every dollar to come 623 00:31:34,440 --> 00:31:36,719 Speaker 6: to New York State. We were pleased to help increase 624 00:31:36,760 --> 00:31:39,920 Speaker 6: the state and local tax deduction by fourfold, increasing it 625 00:31:39,920 --> 00:31:41,800 Speaker 6: to forty thousand dollars. It's going to help a lot 626 00:31:41,800 --> 00:31:44,880 Speaker 6: of hard working middle class families, especially here on Long Island. 627 00:31:44,920 --> 00:31:46,520 Speaker 7: I want to fight for more. 628 00:31:46,320 --> 00:31:48,640 Speaker 6: Investments to come to New York, but there has to 629 00:31:48,680 --> 00:31:51,240 Speaker 6: be accountability on the dollars that we send to the 630 00:31:51,280 --> 00:31:55,920 Speaker 6: Five Borrows. Their policies in the past about shielding illegal 631 00:31:55,960 --> 00:31:59,560 Speaker 6: immigrants with their sanctuary city policies, it is problematic. 632 00:31:59,640 --> 00:32:00,600 Speaker 7: We need to fix to that. 633 00:32:01,360 --> 00:32:02,960 Speaker 6: I hope that we can live in some sort of 634 00:32:03,000 --> 00:32:06,959 Speaker 6: equilibrium where folks who run New York City can have 635 00:32:07,040 --> 00:32:10,520 Speaker 6: good policies and the federal government can send money to 636 00:32:10,640 --> 00:32:12,800 Speaker 6: New York City and New York State. But I hope 637 00:32:12,800 --> 00:32:14,600 Speaker 6: that we can live at a better equilibrium and not 638 00:32:14,680 --> 00:32:17,080 Speaker 6: send good dollars after bad policies. 639 00:32:17,200 --> 00:32:19,320 Speaker 2: I'd like to ask you about the shutdown, Congressman, and 640 00:32:19,320 --> 00:32:22,320 Speaker 2: I'll take this opportunity to tell our listeners and viewers 641 00:32:22,360 --> 00:32:24,760 Speaker 2: about a headline that just crossed the terminal. The FAA 642 00:32:24,800 --> 00:32:28,320 Speaker 2: has issued a groundstop notice at LaGuardia Airport, and of 643 00:32:28,320 --> 00:32:30,240 Speaker 2: course that's something we've been here on a lot about. 644 00:32:30,320 --> 00:32:33,280 Speaker 2: I took quite a few hours to get into LaGuardia 645 00:32:33,280 --> 00:32:35,320 Speaker 2: from Washington, DC a couple of days ago, and this 646 00:32:35,360 --> 00:32:37,680 Speaker 2: has become par for the course. We're on day thirty 647 00:32:37,760 --> 00:32:40,200 Speaker 2: six of the shutdown, which means it's record length. And 648 00:32:40,240 --> 00:32:43,440 Speaker 2: the President today brought Senate Republicans into the White House 649 00:32:43,800 --> 00:32:46,360 Speaker 2: for a meeting, having already said, untruth social that the 650 00:32:46,400 --> 00:32:51,520 Speaker 2: shutdown was partly due to blame for Republican losses last evening. 651 00:32:51,600 --> 00:32:53,520 Speaker 2: I don't know if you agree with him on that, 652 00:32:53,960 --> 00:32:56,160 Speaker 2: but there does seem to be a sense that this 653 00:32:56,200 --> 00:32:59,320 Speaker 2: could end now that we're through the elections, maybe even 654 00:32:59,480 --> 00:33:02,160 Speaker 2: within day, by the end of this week. What's your thought. 655 00:33:02,840 --> 00:33:07,480 Speaker 6: Yeah, for decades, clean crs where the resolution that Republicans 656 00:33:07,560 --> 00:33:11,280 Speaker 6: Democrats agreed on when they couldn't agree on policies elsewhere 657 00:33:11,680 --> 00:33:14,520 Speaker 6: and you have to look at Senate Democrats to why 658 00:33:14,560 --> 00:33:17,760 Speaker 6: they won't adopt that philosophy that's been adopted in Washington, 659 00:33:18,120 --> 00:33:20,280 Speaker 6: like I said, for decades, they're. 660 00:33:20,040 --> 00:33:21,440 Speaker 7: The ones who shut the government down. 661 00:33:21,480 --> 00:33:23,440 Speaker 6: They're the ones that are causing these ground stops in 662 00:33:23,480 --> 00:33:26,920 Speaker 6: places like LaGuardia, long lines elsewhere throughout the country. 663 00:33:27,200 --> 00:33:29,680 Speaker 7: You know, not having federal employees paid. 664 00:33:29,720 --> 00:33:32,280 Speaker 6: I have the Brookhaven National Lab here in my district, 665 00:33:32,280 --> 00:33:35,600 Speaker 6: three thousand scientists and engineers. Some are getting furlough METI 666 00:33:35,640 --> 00:33:39,280 Speaker 6: aren't being paid. Our national security is at risk. Other 667 00:33:39,320 --> 00:33:42,440 Speaker 6: things are just grinded to a halt. This shutdown needs 668 00:33:42,480 --> 00:33:46,520 Speaker 6: to end. Others will profess the political implications of it, 669 00:33:46,560 --> 00:33:50,600 Speaker 6: but there's a real human implication of federal employees not 670 00:33:50,680 --> 00:33:53,800 Speaker 6: getting paid. There's a national security implication of us not 671 00:33:53,880 --> 00:33:56,400 Speaker 6: being able to deploy our troops in the right manner, 672 00:33:56,480 --> 00:33:58,160 Speaker 6: gather intelligence in the right manner. 673 00:33:58,120 --> 00:33:59,479 Speaker 7: And then programs like SNAP. 674 00:34:00,080 --> 00:34:03,000 Speaker 6: To be clear, ninety nine percent of House Republicans, ninety 675 00:34:03,040 --> 00:34:06,800 Speaker 6: nine percent of Senate Republicans voted yes every time to 676 00:34:06,920 --> 00:34:09,640 Speaker 6: fund those programs and to play pay those troops and 677 00:34:09,680 --> 00:34:12,839 Speaker 6: pay those employees. It's the Senate Democrats that are holding 678 00:34:12,880 --> 00:34:15,040 Speaker 6: up and I'm pleased that the President is meeting with 679 00:34:15,080 --> 00:34:17,799 Speaker 6: Senate Republicans, but it's time for Chuck Schumer to have 680 00:34:17,840 --> 00:34:21,160 Speaker 6: some courage and meet with Senate Democrats and release his 681 00:34:21,239 --> 00:34:23,320 Speaker 6: stranglehold that he has on the American people. 682 00:34:23,320 --> 00:34:25,400 Speaker 2: Well, we understand that was a pretty chippy meeting at 683 00:34:25,400 --> 00:34:27,879 Speaker 2: the White House. The President was on truth social saying 684 00:34:27,920 --> 00:34:32,640 Speaker 2: Republicans terminate the filibuster, get back to passing legislation and 685 00:34:32,760 --> 00:34:35,520 Speaker 2: voter reform. Does it make you nervous the idea of 686 00:34:35,560 --> 00:34:39,279 Speaker 2: a Democratic leader in the Senate pursuing an agenda with 687 00:34:39,360 --> 00:34:40,080 Speaker 2: no filibuster. 688 00:34:41,080 --> 00:34:43,600 Speaker 6: Well, here's the ultimate question. The President is right to 689 00:34:43,680 --> 00:34:46,200 Speaker 6: test this issue. The ultimate question is if and when 690 00:34:46,320 --> 00:34:49,600 Speaker 6: Democrats have the trifecta the White House, the Senate, the House, 691 00:34:50,040 --> 00:34:53,560 Speaker 6: will they too honor this tradition of sixty votes to 692 00:34:53,640 --> 00:34:56,960 Speaker 6: do policy and budgets in the Senate. If they will, 693 00:34:57,320 --> 00:34:59,480 Speaker 6: then we probably shouldn't get rid of this filibuster. But 694 00:34:59,520 --> 00:35:01,960 Speaker 6: the President's point is that they'll get rid of it 695 00:35:02,120 --> 00:35:05,120 Speaker 6: the moment they have the trifecta. I think that is 696 00:35:05,160 --> 00:35:08,520 Speaker 6: a pending question that needs to be probed by constituents, 697 00:35:08,560 --> 00:35:11,200 Speaker 6: by the press. These senators need to be on record 698 00:35:11,239 --> 00:35:14,400 Speaker 6: that either they like the filibuster or they don't. Because 699 00:35:14,719 --> 00:35:17,000 Speaker 6: we Republicans, we want to get our good policies through. 700 00:35:17,040 --> 00:35:19,560 Speaker 6: We got the Big Bill through that lower taxes, that 701 00:35:19,640 --> 00:35:22,640 Speaker 6: straightened strength in our border, strength our national security. We're 702 00:35:22,640 --> 00:35:24,440 Speaker 6: able to do that with just fifty one votes. 703 00:35:24,280 --> 00:35:26,080 Speaker 7: In the Senate. Yeah, a lot of other things that. 704 00:35:26,280 --> 00:35:28,520 Speaker 6: Are good for the nation we can't do if we 705 00:35:28,560 --> 00:35:31,440 Speaker 6: hold ourselves to the sixty vote standard. The President is 706 00:35:31,520 --> 00:35:34,640 Speaker 6: right to be questioning whether or not Democrats, if they 707 00:35:34,640 --> 00:35:37,400 Speaker 6: had the trifecta, would hold that same standard, And I 708 00:35:37,440 --> 00:35:39,120 Speaker 6: hope that we come to a good answer here in 709 00:35:39,120 --> 00:35:40,120 Speaker 6: the next couple of days or weeks. 710 00:35:40,160 --> 00:35:42,400 Speaker 2: Well, they had the trifecta just in twenty twenty, right, 711 00:35:42,440 --> 00:35:43,840 Speaker 2: and they didn't do it. 712 00:35:43,360 --> 00:35:44,640 Speaker 7: Is the lack of. 713 00:35:44,600 --> 00:35:47,719 Speaker 2: Trust that bad on Capitol Hill that you still don't know. 714 00:35:48,400 --> 00:35:51,080 Speaker 7: Yes, right now, it is because of this CR issue. 715 00:35:51,239 --> 00:35:54,200 Speaker 6: The lack of trust exists right now because Senate Democrats 716 00:35:54,239 --> 00:35:57,520 Speaker 6: won't do the mere minimum and agree to a status 717 00:35:57,600 --> 00:36:01,720 Speaker 6: quo clean no cuts, no GiMA, makes no tricks, clean CR, 718 00:36:01,960 --> 00:36:05,160 Speaker 6: which is, by the way, mostly Biden's policies. So the 719 00:36:05,239 --> 00:36:08,560 Speaker 6: trust level is at a new all time low, and 720 00:36:08,680 --> 00:36:11,839 Speaker 6: that lack of trust is now making this sixty vote 721 00:36:11,880 --> 00:36:15,799 Speaker 6: standard a little skeptical. Can we actually rely on this 722 00:36:15,880 --> 00:36:20,880 Speaker 6: sixty vote standard in contemplation of senateocrass breaking tradition with 723 00:36:20,960 --> 00:36:22,120 Speaker 6: sub Where we. 724 00:36:22,080 --> 00:36:24,400 Speaker 2: Are Republican Congressman Nico Lo Loota. Great to see you 725 00:36:24,440 --> 00:36:26,760 Speaker 2: from New York. Thank you, let's meet. We're back at DC. 726 00:36:27,719 --> 00:36:32,400 Speaker 2: This is Bloomberg. Thanks for listening to the Balance of 727 00:36:32,480 --> 00:36:35,960 Speaker 2: Power podcast. Make sure to subscribe if you haven't already, 728 00:36:36,000 --> 00:36:39,319 Speaker 2: at Apple, Spotify, or wherever you get your podcasts, and 729 00:36:39,360 --> 00:36:42,000 Speaker 2: you can find us live every weekday from Washington, DC 730 00:36:42,120 --> 00:36:44,840 Speaker 2: at noontime Eastern at Bloomberg dot com