1 00:00:02,920 --> 00:00:10,600 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. You're listening to the 2 00:00:10,640 --> 00:00:12,719 Speaker 1: Bloomberg Balance of Power podcast. 3 00:00:13,039 --> 00:00:16,200 Speaker 2: Catch Just Live weekdays at noon Eastern on Appo, CarPlay 4 00:00:16,200 --> 00:00:18,960 Speaker 2: and then Rounto with the Bloomberg Business app Listen on 5 00:00:19,079 --> 00:00:22,280 Speaker 2: demand wherever you get your podcasts, or watch us live 6 00:00:22,400 --> 00:00:25,919 Speaker 2: on YouTube gear. 7 00:00:26,000 --> 00:00:28,720 Speaker 3: In Washington, it is State of the Union Day and 8 00:00:28,760 --> 00:00:31,920 Speaker 3: we are all gearing up to watch with anticipation the 9 00:00:31,960 --> 00:00:34,559 Speaker 3: President's addressed to a joint session of Congress tonight. We're 10 00:00:34,560 --> 00:00:37,559 Speaker 3: playing the game of how long this speech will go. 11 00:00:37,760 --> 00:00:40,160 Speaker 3: Maybe an hour, maybe up to an hour and a half. 12 00:00:40,200 --> 00:00:42,919 Speaker 3: But frankly, there's a lot of content that could be 13 00:00:42,960 --> 00:00:46,080 Speaker 3: packed in that sure, and foreign policy is probably going 14 00:00:46,120 --> 00:00:48,120 Speaker 3: to feature pretty heavily in the speech. We're already getting 15 00:00:48,120 --> 00:00:50,440 Speaker 3: some clues Joe, as to what exactly in that regard 16 00:00:50,479 --> 00:00:51,720 Speaker 3: the President could announce tonight. 17 00:00:51,840 --> 00:00:53,840 Speaker 4: That's a great point. Look, they're going to cover a 18 00:00:53,840 --> 00:00:56,680 Speaker 4: lot of ground here. This is, you know, the proverbial. 19 00:00:56,360 --> 00:00:58,600 Speaker 5: Laundry list of priorities. 20 00:00:58,880 --> 00:01:01,680 Speaker 4: But yes, the situation in the Middle East. Coming off 21 00:01:01,680 --> 00:01:05,520 Speaker 4: our conversation earlier today with Rick and Jeannie, the uncommitted 22 00:01:05,600 --> 00:01:08,800 Speaker 4: vote that we saw on Super Tuesday and in Michigan 23 00:01:08,840 --> 00:01:12,200 Speaker 4: and a president who has suggested that Israel's response has 24 00:01:12,200 --> 00:01:14,080 Speaker 4: been over the top. We have breaking news on the 25 00:01:14,160 --> 00:01:17,839 Speaker 4: terminal here that the President will direct the US military 26 00:01:17,880 --> 00:01:22,160 Speaker 4: to establish a temporary port, build a Gaza port on 27 00:01:22,200 --> 00:01:25,759 Speaker 4: the Gaza coast to ramp up the delivery of aid. 28 00:01:26,040 --> 00:01:28,600 Speaker 4: This would be a significant development, Kaylee. We were talking 29 00:01:28,640 --> 00:01:29,679 Speaker 4: about air drops just. 30 00:01:29,640 --> 00:01:30,160 Speaker 5: A week ago. 31 00:01:30,640 --> 00:01:33,160 Speaker 3: Absolutely, and it raises the question of whether this is 32 00:01:33,200 --> 00:01:36,240 Speaker 3: the administration having to find ways to go around Israel 33 00:01:36,360 --> 00:01:39,280 Speaker 3: or exactly how that relationship is working as the US 34 00:01:39,319 --> 00:01:41,320 Speaker 3: makes moves like this one hundred percent. 35 00:01:41,640 --> 00:01:45,760 Speaker 4: We begin our conversation with that backdrop with almost hochstein Is, 36 00:01:45,800 --> 00:01:49,960 Speaker 4: with a senior advisor to President Biden for Energy and investment, 37 00:01:50,440 --> 00:01:52,680 Speaker 4: and with us now from the White House. Am Also, 38 00:01:52,720 --> 00:01:54,160 Speaker 4: it's great to see you. There are a lot of 39 00:01:54,160 --> 00:01:55,800 Speaker 4: things we'd love to ask you about when it comes 40 00:01:55,840 --> 00:01:58,840 Speaker 4: to energy policy. I wonder if this is in your 41 00:01:58,880 --> 00:02:02,320 Speaker 4: portfolio with the President will announce tonight when it comes 42 00:02:02,360 --> 00:02:02,840 Speaker 4: to Gaza. 43 00:02:04,520 --> 00:02:06,080 Speaker 6: Well, great to be with you as well, And this 44 00:02:07,040 --> 00:02:09,520 Speaker 6: is an exciting day where the President can really talk 45 00:02:09,560 --> 00:02:13,120 Speaker 6: to the American people about both the achievements of the 46 00:02:13,160 --> 00:02:16,000 Speaker 6: last three years and where the world is today and 47 00:02:16,440 --> 00:02:20,240 Speaker 6: the vision for the future. So clearly he has spent 48 00:02:20,480 --> 00:02:23,919 Speaker 6: an enormous amount of time working on the Middle East 49 00:02:24,280 --> 00:02:27,400 Speaker 6: over the last several months since the attacks of the 50 00:02:27,520 --> 00:02:31,239 Speaker 6: Maas on October seven, and trying to bring the hostages, 51 00:02:31,280 --> 00:02:35,560 Speaker 6: the Israeli hostage and American hostages home and achieving a 52 00:02:35,639 --> 00:02:39,440 Speaker 6: ceasefire through that process, while also making sure that enough 53 00:02:39,520 --> 00:02:46,080 Speaker 6: humanitarian assistance enters Gaza during during this time of conflict. 54 00:02:47,919 --> 00:02:50,960 Speaker 3: Well, and as Joe mentioned, that may now include trying 55 00:02:51,000 --> 00:02:54,320 Speaker 3: to get aid through Gaza through the waterways by establishing 56 00:02:54,840 --> 00:02:57,480 Speaker 3: a port. But of course, one of the ongoing conversations 57 00:02:57,480 --> 00:02:59,400 Speaker 3: around the conflict in the Middle East, not just when 58 00:02:59,400 --> 00:03:01,760 Speaker 3: it comes to the direct conflict between Israel and Hamas, 59 00:03:01,800 --> 00:03:03,840 Speaker 3: but also what we're seeing in the Red Sea with 60 00:03:03,919 --> 00:03:05,760 Speaker 3: the who Thy some of the other activity has been 61 00:03:05,800 --> 00:03:07,600 Speaker 3: going on, is whether or not it was going to 62 00:03:07,639 --> 00:03:10,600 Speaker 3: be disruptive to energy flows, which of course is in 63 00:03:10,639 --> 00:03:13,359 Speaker 3: your purview. Almost should we expect to hear from the 64 00:03:13,360 --> 00:03:16,960 Speaker 3: President about that tonight to potentially ease concerns that what 65 00:03:17,040 --> 00:03:19,720 Speaker 3: is happening abroad will affect prices at the pump at home. 66 00:03:21,240 --> 00:03:24,160 Speaker 6: Well, I think, as you know, We've talked about this before. 67 00:03:24,200 --> 00:03:28,120 Speaker 6: The President has been laser focused on the American economy 68 00:03:28,120 --> 00:03:31,200 Speaker 6: and bringing costs down, and over the last three years 69 00:03:31,960 --> 00:03:35,000 Speaker 6: we've looked he has really directed the economy and presiding 70 00:03:35,040 --> 00:03:39,120 Speaker 6: today over the strongest economy on the planet that has 71 00:03:39,360 --> 00:03:43,680 Speaker 6: a lower inflation, lower costs the American families, and that 72 00:03:43,800 --> 00:03:48,640 Speaker 6: includes energy prices, while at the statement we have manufacturing 73 00:03:49,080 --> 00:03:53,120 Speaker 6: and with low unemployment, and that is really he did 74 00:03:53,160 --> 00:03:56,120 Speaker 6: this by focusing on bringing costs down to the to 75 00:03:56,160 --> 00:03:58,600 Speaker 6: the middle class, the American public, and focusing on the 76 00:03:58,640 --> 00:04:00,840 Speaker 6: strength of that middle class. 77 00:04:00,880 --> 00:04:02,000 Speaker 5: So when it comes. 78 00:04:01,760 --> 00:04:05,080 Speaker 6: To how do you get to that to achieve this 79 00:04:05,160 --> 00:04:08,960 Speaker 6: kind of an economy, not only today as we said here, 80 00:04:09,000 --> 00:04:11,960 Speaker 6: but also focusing on the future, you have to look 81 00:04:11,960 --> 00:04:16,200 Speaker 6: at what's happening domestically and internationally. And despite the fact 82 00:04:16,240 --> 00:04:19,440 Speaker 6: that the Huthis have been attacking ships in the Red Sea, 83 00:04:19,839 --> 00:04:23,920 Speaker 6: costs have been relatively the cost impact has been muted. 84 00:04:24,640 --> 00:04:28,280 Speaker 6: We have worked with the private sector, with the shipping 85 00:04:28,279 --> 00:04:31,480 Speaker 6: companies and everyone else to make sure that alternatives are 86 00:04:31,480 --> 00:04:35,080 Speaker 6: there and that the costs don't affect consumers, specially here 87 00:04:35,120 --> 00:04:38,880 Speaker 6: at home. And I think that's been arge achieved and 88 00:04:39,160 --> 00:04:42,000 Speaker 6: the President will continue to focus, as you'll outline today, 89 00:04:42,440 --> 00:04:46,560 Speaker 6: on the policies of expanding and accelerating the energy transition 90 00:04:47,040 --> 00:04:50,640 Speaker 6: while ensuring that the current energy mix that we have 91 00:04:50,720 --> 00:04:54,960 Speaker 6: today is maintained, is strong, and is affordable. 92 00:04:56,720 --> 00:04:59,960 Speaker 4: You were just in Lebanon, almost Hoksteen, meeting with leaders there. 93 00:05:00,120 --> 00:05:03,600 Speaker 4: Are you confident, following your talks and your time spent 94 00:05:03,720 --> 00:05:08,320 Speaker 4: there with leaders that Israel will not open a wider war, 95 00:05:08,400 --> 00:05:09,480 Speaker 4: a new front to the north. 96 00:05:11,040 --> 00:05:13,120 Speaker 6: Well, as you said, I was in Lebanon on Monday 97 00:05:13,200 --> 00:05:16,680 Speaker 6: and in Israel on Tuesday, and to make sure that 98 00:05:16,760 --> 00:05:20,560 Speaker 6: we convey to all sides that a diplomatic option here 99 00:05:20,279 --> 00:05:24,120 Speaker 6: is the right way to go to enable Israelis to 100 00:05:24,160 --> 00:05:27,200 Speaker 6: go back to their homes in the northern Israel safely 101 00:05:27,520 --> 00:05:30,760 Speaker 6: and securely without worrying about further attacks. And the same 102 00:05:30,839 --> 00:05:34,240 Speaker 6: is true for Lebanese communities returning to their homes. We've 103 00:05:34,279 --> 00:05:37,799 Speaker 6: had a sort of a low level or a lower 104 00:05:37,880 --> 00:05:41,200 Speaker 6: level of conflict going on for five months, and the 105 00:05:41,200 --> 00:05:43,640 Speaker 6: President has been clear that he believes that we should 106 00:05:43,640 --> 00:05:47,120 Speaker 6: exhaust all diplomatic efforts to get there, and I believe 107 00:05:47,440 --> 00:05:50,320 Speaker 6: that it is possible. Clearly, all the dots in the 108 00:05:50,320 --> 00:05:53,520 Speaker 6: Middle East conflict are connected, whether we like that or not, 109 00:05:54,000 --> 00:05:57,480 Speaker 6: and so we have to work on this in unison 110 00:05:57,600 --> 00:05:59,200 Speaker 6: with some of the other efforts that we're doing, but 111 00:05:59,240 --> 00:06:05,000 Speaker 6: we are clearlyishing for a peaceful and secure option. 112 00:06:06,760 --> 00:06:06,960 Speaker 7: Well. 113 00:06:06,960 --> 00:06:09,880 Speaker 3: Almost part of what the President will be doing tonight 114 00:06:10,000 --> 00:06:13,200 Speaker 3: is making the case for another four years, because if 115 00:06:13,240 --> 00:06:15,920 Speaker 3: he is not elected to a second term, his work 116 00:06:16,040 --> 00:06:19,240 Speaker 3: ends next January. And I just wonder, when we're thinking 117 00:06:19,279 --> 00:06:21,680 Speaker 3: about what's happening and happening in the Middle East, how 118 00:06:21,839 --> 00:06:24,960 Speaker 3: much you think conflict there will be resolved, how much 119 00:06:24,960 --> 00:06:29,240 Speaker 3: progress realistically can be made by November the latest January, 120 00:06:29,320 --> 00:06:32,520 Speaker 3: or will this take another four years to sort out? 121 00:06:33,360 --> 00:06:37,000 Speaker 6: Look, I think the President's been working tirelessly and personally 122 00:06:37,600 --> 00:06:39,920 Speaker 6: to bring an end to this conflict as soon as possible, 123 00:06:40,600 --> 00:06:44,400 Speaker 6: to bring back the hostages home, and to do that 124 00:06:44,480 --> 00:06:47,240 Speaker 6: while maintaining a cease fire, and to bring an end 125 00:06:47,240 --> 00:06:50,160 Speaker 6: to this conflict as soon as soon as possible, much 126 00:06:50,160 --> 00:06:53,479 Speaker 6: sooner than the timelines that you're referring to. He is 127 00:06:53,880 --> 00:06:55,960 Speaker 6: very focused on this. So I think we're going to 128 00:06:56,000 --> 00:06:58,120 Speaker 6: talk about I think you're right the speech tonight is 129 00:06:58,120 --> 00:07:01,520 Speaker 6: about the next what we've done and what he has 130 00:07:01,560 --> 00:07:03,680 Speaker 6: been able to do over the last three years and 131 00:07:03,720 --> 00:07:05,200 Speaker 6: where we're going to be going in the next four 132 00:07:05,880 --> 00:07:08,880 Speaker 6: And I think that the menorship around the world is 133 00:07:08,920 --> 00:07:13,360 Speaker 6: without russion, enhanced and strengthened. Keeping the world together has 134 00:07:13,360 --> 00:07:17,560 Speaker 6: been critically important. Maintaining the strongest economy in the world 135 00:07:18,200 --> 00:07:23,119 Speaker 6: gives us additional leverage and ability to lead. And Look, 136 00:07:23,320 --> 00:07:27,040 Speaker 6: there's no doubt that there's connectivity between what we do 137 00:07:27,080 --> 00:07:30,760 Speaker 6: at home and what we do around the world. Strengthening democracy, 138 00:07:30,840 --> 00:07:34,840 Speaker 6: strengthening our institutions, and making sure that we have a 139 00:07:34,880 --> 00:07:39,160 Speaker 6: healthy economy that is not just about based on an 140 00:07:39,200 --> 00:07:44,440 Speaker 6: old time scenario or vision of enriching one or two 141 00:07:44,480 --> 00:07:48,280 Speaker 6: percent of the economy and that will promote the rest, 142 00:07:48,360 --> 00:07:51,600 Speaker 6: but rather building out that middle class, creating a stronger 143 00:07:51,640 --> 00:07:54,800 Speaker 6: economy that is focused on the future. That future that 144 00:07:54,840 --> 00:07:58,120 Speaker 6: you're talking about is what gives us the strength The 145 00:07:58,120 --> 00:07:59,360 Speaker 6: inflation Reduction Act. 146 00:07:59,400 --> 00:08:01,080 Speaker 5: I can tell you we pray in the world. 147 00:08:01,120 --> 00:08:03,320 Speaker 6: Even in Lebanon, in the middle of a conflict, they 148 00:08:03,360 --> 00:08:06,320 Speaker 6: talk about the inflation reduction and what the President is 149 00:08:06,360 --> 00:08:08,520 Speaker 6: doing to strengthen the American economy. 150 00:08:10,320 --> 00:08:12,680 Speaker 5: Lastly, almost you've been very generous with your time. 151 00:08:12,720 --> 00:08:14,640 Speaker 4: I want to ask you about the President's pause on 152 00:08:14,840 --> 00:08:18,120 Speaker 4: LNG export approvals. I don't know if this is an 153 00:08:18,160 --> 00:08:21,120 Speaker 4: issue he plans to address tonight. I suspect this might 154 00:08:21,120 --> 00:08:23,040 Speaker 4: come up, but I wonder if it's possible this turns 155 00:08:23,040 --> 00:08:26,560 Speaker 4: into a permanent moratorium, you know. 156 00:08:26,640 --> 00:08:29,720 Speaker 6: I think what the President announced, or absolutely the Department 157 00:08:29,720 --> 00:08:32,680 Speaker 6: of Energy announced, is a pause so that we can 158 00:08:32,720 --> 00:08:35,720 Speaker 6: look at the factors. But let's we have to level set, 159 00:08:35,760 --> 00:08:38,800 Speaker 6: because there's been a lot of talk about this. The 160 00:08:38,840 --> 00:08:42,120 Speaker 6: reality today is that we are the largest exporter of 161 00:08:42,240 --> 00:08:44,679 Speaker 6: energy in the world, and from a base on that 162 00:08:44,840 --> 00:08:47,559 Speaker 6: base in the market of being the largest, we will 163 00:08:47,720 --> 00:08:52,000 Speaker 6: double our exports capacity between now and twenty twenty eight. 164 00:08:52,679 --> 00:08:55,240 Speaker 6: So what we're saying is that that is not in question, 165 00:08:55,640 --> 00:08:58,240 Speaker 6: and that is not on pause. What is on pause 166 00:08:58,320 --> 00:09:03,760 Speaker 6: is to say, beyond that, beyond twenty thirty, do we 167 00:09:03,840 --> 00:09:06,319 Speaker 6: need to look for a minute and say, with such 168 00:09:06,880 --> 00:09:09,880 Speaker 6: exponential growth that we've seen, do we need to look 169 00:09:09,920 --> 00:09:12,959 Speaker 6: at the economic impacts on the market impact? 170 00:09:13,360 --> 00:09:14,920 Speaker 5: And we have to look at what. 171 00:09:14,960 --> 00:09:19,600 Speaker 6: The environmental and climate impacts are on the communities that 172 00:09:19,640 --> 00:09:23,200 Speaker 6: live along our Gulf coast before we say we're going 173 00:09:23,240 --> 00:09:26,920 Speaker 6: to give more permits. So do we even need more facilities. 174 00:09:26,960 --> 00:09:28,680 Speaker 6: It's a good question to ask. I don't know the 175 00:09:28,720 --> 00:09:31,520 Speaker 6: answer to that. There have been different projections of what 176 00:09:31,720 --> 00:09:33,560 Speaker 6: the man is going to be, so I think his 177 00:09:33,840 --> 00:09:36,520 Speaker 6: focus is going to continue to be tonight tomorrow, for 178 00:09:36,600 --> 00:09:40,720 Speaker 6: the next five years on accelerating the energy transition. But 179 00:09:41,559 --> 00:09:44,560 Speaker 6: we have the energy mix and the energy security for 180 00:09:44,760 --> 00:09:46,080 Speaker 6: us and for our allies. 181 00:09:47,720 --> 00:09:49,840 Speaker 3: All right, almost, thank you so much for joining us 182 00:09:49,880 --> 00:09:52,320 Speaker 3: on this State of the Union day. Almas Hawkstein, Senior 183 00:09:52,360 --> 00:09:55,560 Speaker 3: Advisor to the President for Energy and Investment. We appreciate 184 00:09:55,679 --> 00:09:58,560 Speaker 3: you joining us on lumber Television and Radio live from 185 00:09:58,600 --> 00:10:01,960 Speaker 3: the White House to get another voice into this conversation. 186 00:10:02,040 --> 00:10:04,960 Speaker 3: And we're joined now by Jane Hall, American University Associate 187 00:10:05,000 --> 00:10:08,719 Speaker 3: professor of Journalism and Media Studies, also author of Politics 188 00:10:08,720 --> 00:10:12,720 Speaker 3: in the Media, Intersections and New Directions. Jane, great to 189 00:10:12,800 --> 00:10:15,040 Speaker 3: have you. There's been a lot of talk about how 190 00:10:15,120 --> 00:10:17,959 Speaker 3: the President's speech tonight. While it will be about policy, 191 00:10:18,200 --> 00:10:21,079 Speaker 3: it perhaps even more so will be about presentation because 192 00:10:21,080 --> 00:10:23,720 Speaker 3: this also is about the perception that at eighty one 193 00:10:23,800 --> 00:10:25,760 Speaker 3: years old, Joe Biden is too old for the job 194 00:10:25,760 --> 00:10:29,280 Speaker 3: and shouldn't be elected to a second term for that reason. 195 00:10:29,320 --> 00:10:31,360 Speaker 3: What really matters this evening. 196 00:10:32,559 --> 00:10:35,160 Speaker 8: You know, I think it all matters. 197 00:10:35,559 --> 00:10:38,880 Speaker 9: I think the subtext is easy up to the job, 198 00:10:39,240 --> 00:10:43,720 Speaker 9: and if he, god forbid, trips or seems to be 199 00:10:43,800 --> 00:10:47,280 Speaker 9: moving slowly, that will be something that will be played 200 00:10:47,320 --> 00:10:51,520 Speaker 9: by the Republicans and frankly conservative. 201 00:10:50,880 --> 00:10:52,559 Speaker 8: Networks as well. 202 00:10:52,920 --> 00:10:56,800 Speaker 9: So a moment for him is to simply be vigorous 203 00:10:57,320 --> 00:10:59,080 Speaker 9: and deliver this speech. 204 00:10:59,120 --> 00:11:01,600 Speaker 8: Well, maybe even mix it up a little bit, you know. 205 00:11:01,679 --> 00:11:04,640 Speaker 9: With some of the GOP if that if they shout 206 00:11:04,640 --> 00:11:09,320 Speaker 9: at him, perhaps to remain statesmanlike, but also show that 207 00:11:09,360 --> 00:11:10,320 Speaker 9: he can mix it up. 208 00:11:10,920 --> 00:11:13,400 Speaker 8: You know, they're talking about letting Biden be Biden. 209 00:11:13,520 --> 00:11:16,199 Speaker 9: And I think one of the very interesting things in 210 00:11:16,280 --> 00:11:19,240 Speaker 9: your in your speaker just now is that they are 211 00:11:19,280 --> 00:11:22,000 Speaker 9: going to try. It would seem to me to paint 212 00:11:22,000 --> 00:11:24,520 Speaker 9: the picture that this is a person who has a 213 00:11:24,600 --> 00:11:26,120 Speaker 9: vision for a second term. 214 00:11:26,160 --> 00:11:28,559 Speaker 8: That you don't want Donald Trump for a. 215 00:11:28,559 --> 00:11:31,800 Speaker 9: Second term, and the memory of a lot of people 216 00:11:31,880 --> 00:11:37,320 Speaker 9: has faded. And so the international piece is very important. Obviously, 217 00:11:37,880 --> 00:11:40,680 Speaker 9: I teach young people, I teach college students. They are 218 00:11:40,880 --> 00:11:44,520 Speaker 9: very concerned about the deaths in Gaza. 219 00:11:44,679 --> 00:11:46,600 Speaker 8: That is a place where he is losing a lot 220 00:11:46,600 --> 00:11:47,200 Speaker 8: of voters. 221 00:11:47,640 --> 00:11:50,679 Speaker 9: He is associated in a lot of young people's minds 222 00:11:51,240 --> 00:11:54,600 Speaker 9: with one side of this of this conflict. Also, I 223 00:11:54,640 --> 00:11:57,000 Speaker 9: think he also has to deal with the fact that 224 00:11:57,040 --> 00:11:59,920 Speaker 9: he wants to say to people, we have this tremendous 225 00:12:00,200 --> 00:12:03,959 Speaker 9: strong economy, when in fact people have not been feeling that. 226 00:12:04,400 --> 00:12:05,640 Speaker 8: You know, people see it. 227 00:12:05,520 --> 00:12:08,760 Speaker 9: In inflation, and he's being stuck with that, and so 228 00:12:08,800 --> 00:12:10,840 Speaker 9: I think he probably needs to do what Bill Clinton 229 00:12:11,240 --> 00:12:13,240 Speaker 9: was famous for, which is I feel your pain. 230 00:12:13,440 --> 00:12:14,560 Speaker 8: We're working on this. 231 00:12:15,080 --> 00:12:17,400 Speaker 9: But I also think he's got to show that he's 232 00:12:17,440 --> 00:12:20,440 Speaker 9: on the side of working people, which has been something 233 00:12:20,520 --> 00:12:24,400 Speaker 9: he's said many, many times, and somehow that message has 234 00:12:24,480 --> 00:12:28,440 Speaker 9: gotten somewhat somewhat faded in the American mind. 235 00:12:28,840 --> 00:12:30,679 Speaker 8: You know, we could debate why. 236 00:12:30,440 --> 00:12:33,360 Speaker 9: That is, but to say, this is what we did 237 00:12:33,360 --> 00:12:36,360 Speaker 9: with the Inflation Reduction Act, and probably many people don't 238 00:12:36,360 --> 00:12:37,000 Speaker 9: know what they did. 239 00:12:38,679 --> 00:12:41,360 Speaker 4: Yeah, much of this is going to be reminding folks 240 00:12:41,440 --> 00:12:43,680 Speaker 4: of what's been done, Which brings us to the audience. Jane, 241 00:12:43,720 --> 00:12:46,360 Speaker 4: you're a media expert. Is he talking to the people 242 00:12:46,400 --> 00:12:48,360 Speaker 4: in the room at all tonight or is this really 243 00:12:48,400 --> 00:12:50,720 Speaker 4: about people in their living rooms? He's going to be 244 00:12:50,760 --> 00:12:53,520 Speaker 4: looking all the way across all of those heads in 245 00:12:53,559 --> 00:12:56,000 Speaker 4: the chamber to the cameras all the way in the 246 00:12:56,040 --> 00:12:58,160 Speaker 4: back of the room to make eye contact with me 247 00:12:58,360 --> 00:12:59,640 Speaker 4: sitting on my couch right. 248 00:13:00,720 --> 00:13:03,440 Speaker 9: Absolutely, And you know, people, this is one of those 249 00:13:03,440 --> 00:13:04,400 Speaker 9: collective events. 250 00:13:04,440 --> 00:13:07,480 Speaker 8: People will be tuning in. You know, this is this 251 00:13:07,760 --> 00:13:08,920 Speaker 8: is this is. 252 00:13:08,920 --> 00:13:12,200 Speaker 9: An important event, especially that we now know that it's 253 00:13:12,320 --> 00:13:16,920 Speaker 9: going to be a rematch unless something drastic changes, that 254 00:13:17,000 --> 00:13:18,840 Speaker 9: it's going to be Biden versus Trump. 255 00:13:19,120 --> 00:13:21,360 Speaker 8: He is going to be playing to the audience at. 256 00:13:21,280 --> 00:13:25,680 Speaker 9: Home, and he's also got to at least address the 257 00:13:25,800 --> 00:13:28,720 Speaker 9: audience in the room. And I'll be interested to see 258 00:13:29,000 --> 00:13:32,040 Speaker 9: how much does he go after the GOP how much 259 00:13:32,080 --> 00:13:35,640 Speaker 9: does he talk about how Trump, in many people's views, 260 00:13:35,960 --> 00:13:39,280 Speaker 9: killed in a bipartisan immigration bill. I don't I don't 261 00:13:39,280 --> 00:13:41,760 Speaker 9: think he's going to go too near immigration. I think 262 00:13:41,760 --> 00:13:44,640 Speaker 9: he's probably going to be playing to an audience at 263 00:13:44,679 --> 00:13:47,920 Speaker 9: home and saying, I feel your pain, I'm on your side. 264 00:13:48,000 --> 00:13:51,760 Speaker 8: Remember me as the guy that was that and is 265 00:13:51,840 --> 00:13:54,760 Speaker 8: that That's where I think he's going to be trying 266 00:13:54,840 --> 00:13:55,320 Speaker 8: to speak. 267 00:13:55,360 --> 00:13:58,400 Speaker 9: But again, if there's a moment where he seems to falter, 268 00:13:59,200 --> 00:14:00,200 Speaker 9: that is going to be. 269 00:14:00,080 --> 00:14:00,960 Speaker 8: A viral video. 270 00:14:01,080 --> 00:14:04,960 Speaker 9: And so he's got to not have that happen regrettably, 271 00:14:05,040 --> 00:14:07,080 Speaker 9: that would be picked up all over the place. 272 00:14:08,640 --> 00:14:10,480 Speaker 3: And Jane, we have less than a minute yet left 273 00:14:10,520 --> 00:14:12,719 Speaker 3: with that, which actually ties into this question, isn't that 274 00:14:12,760 --> 00:14:14,640 Speaker 3: it's also in part about sound bites that are going 275 00:14:14,679 --> 00:14:18,080 Speaker 3: to be replayed on TikTok and on social media perpetually. 276 00:14:18,120 --> 00:14:20,280 Speaker 3: This isn't about the speech and its entirety, right. 277 00:14:21,280 --> 00:14:23,520 Speaker 8: Oh, absolutely, it's what the pundits. 278 00:14:23,320 --> 00:14:26,880 Speaker 9: It's what you and we and everybody else on networks 279 00:14:26,880 --> 00:14:28,040 Speaker 9: that have different opinions. 280 00:14:28,080 --> 00:14:30,320 Speaker 8: Cable news being huge about this. 281 00:14:31,320 --> 00:14:34,320 Speaker 9: You know, if he makes a mistake, that'll be picked 282 00:14:34,360 --> 00:14:36,280 Speaker 9: up by people who don't like him and don't want 283 00:14:36,320 --> 00:14:39,760 Speaker 9: him to win. TikTok is very important. Again, I know 284 00:14:39,880 --> 00:14:43,240 Speaker 9: that from my students, and they're you know, getting out 285 00:14:43,240 --> 00:14:47,200 Speaker 9: there with those bites that work to different audiences is 286 00:14:47,280 --> 00:14:49,600 Speaker 9: partially going to be in the hands of this very 287 00:14:49,680 --> 00:14:51,920 Speaker 9: fractured media environment we're in right now. 288 00:14:52,160 --> 00:14:55,320 Speaker 3: That's very true, all right, Jane Hall of American University, 289 00:14:55,360 --> 00:14:58,040 Speaker 3: thank you so much for joining us, the young voters 290 00:14:58,160 --> 00:14:59,320 Speaker 3: and the TikTok generation. 291 00:14:59,440 --> 00:15:01,200 Speaker 10: Perhaps there one and the same. 292 00:15:01,320 --> 00:15:06,760 Speaker 3: We'll have more coming up on Bloomberg TV and radio. 293 00:15:07,240 --> 00:15:10,560 Speaker 1: You're listening to the Bloomberg Balance of Power podcast Ken 294 00:15:10,760 --> 00:15:13,320 Speaker 1: just Live weekdays at noon Eastern on Apple. 295 00:15:13,080 --> 00:15:15,840 Speaker 2: Car Play and then roud Oto with the Bloomberg Business App. 296 00:15:15,920 --> 00:15:18,760 Speaker 2: You can also listen live on Amazon Alexa from our 297 00:15:18,760 --> 00:15:23,120 Speaker 2: flagship New York station, Just Say Alexa Play Bloomberg eleven thirty. 298 00:15:25,440 --> 00:15:27,800 Speaker 4: Kayleie, I've been making the point all day. When we 299 00:15:27,840 --> 00:15:30,360 Speaker 4: get bogged down in the division and the horribleness of 300 00:15:30,400 --> 00:15:33,240 Speaker 4: politics at America right now, we can sometimes forget some 301 00:15:33,280 --> 00:15:35,600 Speaker 4: of the wonderful things that take place in politics, and 302 00:15:35,640 --> 00:15:38,200 Speaker 4: in Washington, this would be one of them. It's like 303 00:15:38,320 --> 00:15:40,520 Speaker 4: Oscar Night in town, and I know people will probably 304 00:15:40,600 --> 00:15:42,960 Speaker 4: be yelling and screaming by the time it's over, surely, 305 00:15:43,200 --> 00:15:45,680 Speaker 4: but the pomp and the history that surrounds this event 306 00:15:45,760 --> 00:15:46,920 Speaker 4: is one of the wonderful things that we. 307 00:15:46,880 --> 00:15:47,240 Speaker 5: Get to do. 308 00:15:47,720 --> 00:15:48,280 Speaker 10: Absolutely. 309 00:15:48,320 --> 00:15:50,240 Speaker 3: I mean, think of all of the iconic images of 310 00:15:50,280 --> 00:15:52,360 Speaker 3: State of the Union's past, when you have the Speaker 311 00:15:52,360 --> 00:15:56,240 Speaker 3: of the House behind one shoulder, the Vice President behind 312 00:15:56,280 --> 00:15:58,920 Speaker 3: the other shoulder of the president. I think we all 313 00:15:58,920 --> 00:16:01,680 Speaker 3: remember pretty well during the Trump years some of the 314 00:16:01,680 --> 00:16:05,240 Speaker 3: things Speaker Nancy Pelosi UH did during and after time. 315 00:16:05,240 --> 00:16:07,000 Speaker 5: I don't think we'll rip up any script. 316 00:16:06,880 --> 00:16:08,520 Speaker 10: I don't know if we'll rip up any scripts tonight. 317 00:16:08,560 --> 00:16:10,040 Speaker 3: Of course, this will be the first time that how 318 00:16:10,120 --> 00:16:13,440 Speaker 3: Speaker Mike Johnson has a chance to appear in this capacity. 319 00:16:13,800 --> 00:16:14,280 Speaker 5: That's true. 320 00:16:14,520 --> 00:16:16,840 Speaker 4: He'll be over one shoulder and Kamala Harris the other 321 00:16:17,320 --> 00:16:19,440 Speaker 4: and with us for the duration. Kaylee's going to be 322 00:16:19,520 --> 00:16:22,320 Speaker 4: here at the desk in our bureau along with Rick 323 00:16:22,400 --> 00:16:25,440 Speaker 4: Davis and gd Schanzo. I'll be joining from Capitol Hill 324 00:16:25,440 --> 00:16:29,720 Speaker 4: and our signature panel is with us right now. Uh, Genie, 325 00:16:29,720 --> 00:16:33,360 Speaker 4: this is a big night, mister Speaker. Joe Biden will 326 00:16:33,360 --> 00:16:37,480 Speaker 4: come down the aisle, hugs and handshakes. At some point 327 00:16:37,560 --> 00:16:40,800 Speaker 4: the applause will die down and then the real stuff begins. 328 00:16:41,280 --> 00:16:44,800 Speaker 4: How much of a coliseum is he's stepping into tonight? 329 00:16:46,280 --> 00:16:48,920 Speaker 11: It is a huge night. And you know, I was 330 00:16:49,040 --> 00:16:52,800 Speaker 11: just looking back, who in the modern American you know, 331 00:16:53,000 --> 00:16:57,360 Speaker 11: political landscape has sat through more States of the Union 332 00:16:57,520 --> 00:17:00,360 Speaker 11: than Joe Biden. And you know, he gets to Congress 333 00:17:00,400 --> 00:17:02,680 Speaker 11: in nineteen seventy three, he leaves the White House in 334 00:17:02,720 --> 00:17:07,120 Speaker 11: twenty seventeen. By my calculation, he's just at about fifty years. 335 00:17:07,600 --> 00:17:10,919 Speaker 11: So nobody should be better prepared to do their final 336 00:17:11,000 --> 00:17:14,000 Speaker 11: State of the Union for the first term than Joe 337 00:17:14,000 --> 00:17:17,040 Speaker 11: Biden having sat through so many so you know, he 338 00:17:17,200 --> 00:17:20,440 Speaker 11: defied expectations last year. The big question is does he 339 00:17:20,560 --> 00:17:23,879 Speaker 11: do that again tonight. I think he does have things 340 00:17:23,920 --> 00:17:27,680 Speaker 11: to talk about. Number one in my mind is the economy. 341 00:17:28,000 --> 00:17:30,560 Speaker 11: If I was him, I would take a lesson from 342 00:17:30,600 --> 00:17:34,120 Speaker 11: Donald Trump, and I would talk about those good numbers 343 00:17:34,160 --> 00:17:36,719 Speaker 11: that the Wall Street Journal poll told about the economy, 344 00:17:37,040 --> 00:17:39,240 Speaker 11: and I would not use the term inflation. I would 345 00:17:39,280 --> 00:17:42,920 Speaker 11: talk about cost of living, and I would blame corporations 346 00:17:42,960 --> 00:17:45,040 Speaker 11: for driving up these costs, and I would talk about 347 00:17:45,080 --> 00:17:48,000 Speaker 11: what you're going to do to combat that. In other words, 348 00:17:48,080 --> 00:17:51,200 Speaker 11: Joe Biden on the side of the middle and working class. 349 00:17:53,080 --> 00:17:56,199 Speaker 3: Well, to Janie's point, Rick, this may be one of 350 00:17:56,280 --> 00:17:59,199 Speaker 3: what fifty some odd state of the Unions that President 351 00:17:59,240 --> 00:18:01,480 Speaker 3: Biden will have been a part of. But this one 352 00:18:01,520 --> 00:18:05,119 Speaker 3: is also different because this is also a speech that 353 00:18:05,200 --> 00:18:09,360 Speaker 3: he is giving after the general election has effectively begun. 354 00:18:09,560 --> 00:18:11,119 Speaker 3: Is this about the state of the Union or the 355 00:18:11,119 --> 00:18:13,600 Speaker 3: state of the re election campaign? 356 00:18:14,720 --> 00:18:15,440 Speaker 5: Yeah, you're right. 357 00:18:15,480 --> 00:18:18,119 Speaker 12: This is the first one of these kinds of speeches 358 00:18:18,160 --> 00:18:20,600 Speaker 12: that he has had to give, And the reality is 359 00:18:20,680 --> 00:18:25,040 Speaker 12: this is a campaign speech regardless of what the former 360 00:18:25,200 --> 00:18:29,440 Speaker 12: requirement or opportunity it is for the president to declare 361 00:18:29,480 --> 00:18:32,159 Speaker 12: the state of the nation in front of Congress and 362 00:18:32,240 --> 00:18:34,880 Speaker 12: the Supreme Court. Well, you know that's nice. You know, that's, 363 00:18:35,720 --> 00:18:38,280 Speaker 12: as Joe said, a great tradition that we love here 364 00:18:38,280 --> 00:18:41,920 Speaker 12: in Washington, d c. But he will have the largest 365 00:18:42,000 --> 00:18:47,160 Speaker 12: number of people listening to him since his presidency started. 366 00:18:47,800 --> 00:18:50,919 Speaker 12: This is going to be an incredibly important State of 367 00:18:50,920 --> 00:18:53,919 Speaker 12: the Union compared to the previoustory. And what he's going 368 00:18:54,000 --> 00:18:57,399 Speaker 12: to have to do is convince people that, you know, 369 00:18:57,600 --> 00:19:01,119 Speaker 12: he believes in Americans greatness. He believes that we've pulled 370 00:19:01,119 --> 00:19:05,000 Speaker 12: ourselves together after COVID and create an engine of economic reform, 371 00:19:05,119 --> 00:19:06,920 Speaker 12: that we have more influence in the world than we've 372 00:19:06,920 --> 00:19:10,080 Speaker 12: ever had. You know that the future is bright, because 373 00:19:10,440 --> 00:19:13,199 Speaker 12: when I look at all the numbers that tend to 374 00:19:13,480 --> 00:19:16,879 Speaker 12: you know, give Biden and his campaign problems. It's the 375 00:19:16,920 --> 00:19:21,159 Speaker 12: direction of the country. People believe what Donald Trump is selling, 376 00:19:21,320 --> 00:19:25,040 Speaker 12: which is our country is in decline and our presence 377 00:19:25,080 --> 00:19:28,240 Speaker 12: in the world is less influential than it used to be, 378 00:19:28,280 --> 00:19:30,800 Speaker 12: and we just need to hunker down and pay attention 379 00:19:30,880 --> 00:19:33,080 Speaker 12: to our own people and let the rest of the 380 00:19:33,080 --> 00:19:36,280 Speaker 12: world take care of itself, and that is a stark 381 00:19:36,440 --> 00:19:39,280 Speaker 12: contrast to what Joe Biden needs to sell tonight. But 382 00:19:39,320 --> 00:19:42,440 Speaker 12: he has to explain why those things are important. Why 383 00:19:42,520 --> 00:19:44,240 Speaker 12: is it important to be the leader of the world. 384 00:19:44,280 --> 00:19:46,680 Speaker 12: Why is it important that we have a strong economy 385 00:19:46,680 --> 00:19:49,520 Speaker 12: at home to project power abroad. Why is it important 386 00:19:49,520 --> 00:19:52,080 Speaker 12: that we stand up to our enemies and adversaries around 387 00:19:52,080 --> 00:19:54,480 Speaker 12: the world. I think this needs to be more of 388 00:19:54,520 --> 00:19:59,280 Speaker 12: a storytelling session than an iteration of his accomplishments in 389 00:19:59,320 --> 00:20:03,360 Speaker 12: office and how many lobbyists got what end of the speech? 390 00:20:03,560 --> 00:20:03,680 Speaker 9: You know? 391 00:20:03,920 --> 00:20:06,439 Speaker 12: For tonight, I think he has to change it up 392 00:20:06,440 --> 00:20:06,919 Speaker 12: a little bit. 393 00:20:08,119 --> 00:20:10,880 Speaker 4: Pieces are in place for some storytelling. When you look 394 00:20:10,880 --> 00:20:13,359 Speaker 4: at the guest list, Genie, much has been made about 395 00:20:13,359 --> 00:20:15,840 Speaker 4: those who did not accept the first Lady of Ukraine 396 00:20:16,640 --> 00:20:19,760 Speaker 4: and the widow of Alexi Navolny. But Joe Biden's going 397 00:20:19,760 --> 00:20:21,639 Speaker 4: to point up to that box and he's going to 398 00:20:21,720 --> 00:20:24,879 Speaker 4: call out Lettoria Beasley, a woman from Alabama who was 399 00:20:24,920 --> 00:20:28,000 Speaker 4: awaiting an embryo transfer as part of her in vitro 400 00:20:28,119 --> 00:20:30,960 Speaker 4: fertilization treatment when her procedure was canceled due to the 401 00:20:31,000 --> 00:20:35,520 Speaker 4: state Supreme Court's ruling. Sean Fein is going to be 402 00:20:35,560 --> 00:20:39,040 Speaker 4: asked to stand up. The head of the UAW, the 403 00:20:39,080 --> 00:20:43,359 Speaker 4: Swedish Prime Minister will be there. Genie, what do you 404 00:20:43,400 --> 00:20:45,919 Speaker 4: think of this lineup in the contours of the speech 405 00:20:45,960 --> 00:20:47,320 Speaker 4: that will surround these names. 406 00:20:49,000 --> 00:20:51,960 Speaker 11: It's incredibly important and I'm so glad you raised the 407 00:20:52,040 --> 00:20:54,879 Speaker 11: woman from Alabama. We can add to that Katie Cox, 408 00:20:54,920 --> 00:20:58,040 Speaker 11: who was unable to get an abortion when she needed 409 00:20:58,040 --> 00:21:00,840 Speaker 11: one for medical reasons, famously in Texas and had to 410 00:21:00,920 --> 00:21:03,480 Speaker 11: leave the state. That is all going to be part 411 00:21:03,520 --> 00:21:06,679 Speaker 11: of a really important theme in this speech, which is 412 00:21:06,720 --> 00:21:10,640 Speaker 11: to juxtapose what is going to happen if the country 413 00:21:10,680 --> 00:21:13,639 Speaker 11: goes back to a Donald Trump and hands the country 414 00:21:13,680 --> 00:21:18,280 Speaker 11: over to the Republican MAGA. Republican Party of today, which 415 00:21:18,320 --> 00:21:20,480 Speaker 11: is the President is going to make the case that 416 00:21:20,560 --> 00:21:22,600 Speaker 11: you can bet we are going to be looking at 417 00:21:22,640 --> 00:21:26,680 Speaker 11: a federal law banning the right to choose. I mean, 418 00:21:26,960 --> 00:21:30,840 Speaker 11: just take a glimpse at who the Republicans nominated for 419 00:21:30,960 --> 00:21:35,800 Speaker 11: the governor of North Carolina just tuesday, somebody who famously 420 00:21:35,880 --> 00:21:38,840 Speaker 11: says there should be no right to choose and there 421 00:21:38,880 --> 00:21:42,160 Speaker 11: should be no grounds for exceptions to that right. Look 422 00:21:42,160 --> 00:21:45,160 Speaker 11: at Alabama, look at Texas. So he's going to use 423 00:21:45,200 --> 00:21:48,480 Speaker 11: the issue of reproductive rights. We know that he should 424 00:21:48,560 --> 00:21:52,879 Speaker 11: use the issue of NATO really importantly, the idea that 425 00:21:52,960 --> 00:21:56,760 Speaker 11: we have a representatives from Sweden there. You know, if 426 00:21:56,800 --> 00:21:59,439 Speaker 11: you go back a few years, nobody would think that 427 00:21:59,640 --> 00:22:03,320 Speaker 11: sweet and would be joining NATO, and yet they are 428 00:22:03,320 --> 00:22:06,800 Speaker 11: the thirty second country to join because of what Russia 429 00:22:06,880 --> 00:22:09,919 Speaker 11: has done. And the House needs to specifically the GOP 430 00:22:10,160 --> 00:22:13,800 Speaker 11: fund the Ukraine War. Most Republicans want to they've been 431 00:22:13,840 --> 00:22:16,960 Speaker 11: held up by this recalcitrant end. So he's got a 432 00:22:17,000 --> 00:22:18,800 Speaker 11: lot of those themes and those guests are going to 433 00:22:18,840 --> 00:22:21,520 Speaker 11: play right into them. I'm glad Sean Fain is going 434 00:22:21,600 --> 00:22:23,840 Speaker 11: to be there. I think he has done something incredible 435 00:22:23,880 --> 00:22:27,200 Speaker 11: with the labor movement, the UAW strike. The president first 436 00:22:27,200 --> 00:22:30,080 Speaker 11: to go out there and to join a line and 437 00:22:30,160 --> 00:22:33,560 Speaker 11: strike and got the endorsement Sean Fain. Somebody he needs there. 438 00:22:33,880 --> 00:22:36,639 Speaker 11: Maybe he helps pull some of his members over. So 439 00:22:36,760 --> 00:22:39,960 Speaker 11: the lineup of guests is critical. Of course, wish the 440 00:22:40,080 --> 00:22:43,760 Speaker 11: Ukrainian First Lady and of course Navalni's widow we're going 441 00:22:43,840 --> 00:22:45,919 Speaker 11: to be there, but of course there's very good reasons 442 00:22:45,920 --> 00:22:46,800 Speaker 11: they are not attending. 443 00:22:48,680 --> 00:22:51,640 Speaker 3: Well, as Genie talks about the issue of Ukraine funding 444 00:22:51,720 --> 00:22:54,880 Speaker 3: for which still has not passed in the House. It's 445 00:22:54,880 --> 00:22:56,720 Speaker 3: worth noting Rick that even though we just had a 446 00:22:56,760 --> 00:23:00,480 Speaker 3: conversation about how this is a campaign speech Resident is 447 00:23:00,520 --> 00:23:03,040 Speaker 3: making to the American people, he is also there physically 448 00:23:03,040 --> 00:23:06,520 Speaker 3: in the room with the entirety of Congress. How much 449 00:23:06,560 --> 00:23:08,320 Speaker 3: does he need to use this as an opportunity to 450 00:23:08,359 --> 00:23:11,440 Speaker 3: make his case not just for that supplemental emergency funding 451 00:23:11,480 --> 00:23:14,600 Speaker 3: for allies, but also for a border deal that the 452 00:23:14,640 --> 00:23:16,040 Speaker 3: House has refused to take up. 453 00:23:17,080 --> 00:23:17,280 Speaker 5: Yeah. 454 00:23:17,320 --> 00:23:20,720 Speaker 12: I think outside of talking about the strength of the 455 00:23:20,760 --> 00:23:24,480 Speaker 12: economy that he's produced as president, the single most important 456 00:23:24,480 --> 00:23:27,920 Speaker 12: thing he has to address is the poorest southern border. 457 00:23:28,280 --> 00:23:34,000 Speaker 12: It is now the glaring defect in his administration, especially 458 00:23:34,040 --> 00:23:38,560 Speaker 12: anything related to domestic policy. This shines above and we 459 00:23:38,600 --> 00:23:41,400 Speaker 12: see in the public polling that it is emerging as 460 00:23:41,480 --> 00:23:44,240 Speaker 12: the number one issue in many states across the country 461 00:23:44,920 --> 00:23:47,600 Speaker 12: that voters are concerned about going into the election year. 462 00:23:47,720 --> 00:23:50,080 Speaker 5: So I think he has to be very direct. 463 00:23:50,119 --> 00:23:54,040 Speaker 12: We have talked ever since the Republicans failed to pass 464 00:23:54,119 --> 00:23:58,320 Speaker 12: the more comprehensive reform as part of the supplemental that 465 00:23:58,400 --> 00:24:01,239 Speaker 12: this was an opportunity for Joe Biden to pounce on 466 00:24:01,520 --> 00:24:04,320 Speaker 12: and nothing has been done. He goes down to the border, 467 00:24:04,640 --> 00:24:05,920 Speaker 12: he doesn't say anything about a. 468 00:24:05,840 --> 00:24:07,119 Speaker 5: New policy or get tough. 469 00:24:07,960 --> 00:24:11,000 Speaker 12: This is his chance. I know that the Biden people 470 00:24:11,080 --> 00:24:14,560 Speaker 12: I've talked to, the supporters he has around States, are 471 00:24:14,800 --> 00:24:18,560 Speaker 12: desperate for some signal of strength coming from this administration 472 00:24:19,160 --> 00:24:21,600 Speaker 12: that gives them a talking point on the border different 473 00:24:21,680 --> 00:24:24,439 Speaker 12: than what they had going into the speech tonight. Question 474 00:24:24,600 --> 00:24:25,560 Speaker 12: is does he deliver. 475 00:24:27,119 --> 00:24:29,320 Speaker 4: I've got less than a minute here, Genie. We heard 476 00:24:29,359 --> 00:24:32,240 Speaker 4: from the Chief of Staff, Jeff Zionce talk about raising 477 00:24:32,280 --> 00:24:36,440 Speaker 4: the bar. You're going to see a very energized president. 478 00:24:36,520 --> 00:24:39,320 Speaker 4: He said, this is a big moment and this president 479 00:24:39,440 --> 00:24:42,960 Speaker 4: rises to those big moments. Is the White House making 480 00:24:43,000 --> 00:24:44,800 Speaker 4: this more difficult than he needs to do? What is 481 00:24:44,800 --> 00:24:45,760 Speaker 4: he going to swing in on. 482 00:24:45,680 --> 00:24:48,280 Speaker 5: A rope gush? 483 00:24:48,320 --> 00:24:51,320 Speaker 11: Wouldn't that be something we will be there to watch, 484 00:24:52,000 --> 00:24:54,040 Speaker 11: you know. I think they are making the point that 485 00:24:54,080 --> 00:24:55,840 Speaker 11: he is vigorous and we are going to see the 486 00:24:55,920 --> 00:24:58,880 Speaker 11: real Joe Biden out there, and as we did last year, 487 00:24:59,320 --> 00:25:02,040 Speaker 11: I think they are hoping that happens. But as your 488 00:25:02,080 --> 00:25:04,800 Speaker 11: previous guest was just talking about, there is a danger 489 00:25:04,880 --> 00:25:07,920 Speaker 11: to that because these things will go viral if he 490 00:25:08,000 --> 00:25:11,080 Speaker 11: does have a slip up. So these are high stakes 491 00:25:11,119 --> 00:25:14,640 Speaker 11: for the Biden team tonight. But again, nobody more experienced 492 00:25:14,640 --> 00:25:16,399 Speaker 11: to do this tonight than Joe Biden. 493 00:25:20,240 --> 00:25:23,199 Speaker 1: You're listening to the Bloomberg Balance of Power podcast. 494 00:25:23,520 --> 00:25:26,840 Speaker 2: Catch Just Live weekdays at noon Eastern on Eppo CarPlay and. 495 00:25:26,760 --> 00:25:29,000 Speaker 1: Then Roudoro with the Bloomberg Business app. 496 00:25:29,080 --> 00:25:32,200 Speaker 2: Listen on demand wherever you get your podcasts, or watch 497 00:25:32,280 --> 00:25:35,840 Speaker 2: us live on YouTube. 498 00:25:36,400 --> 00:25:38,680 Speaker 4: But it comes down, of course, to messaging to nuance 499 00:25:38,720 --> 00:25:41,080 Speaker 4: here for the President of the United States, and this 500 00:25:41,160 --> 00:25:44,040 Speaker 4: is something that's been a concerted effort for many days. 501 00:25:44,040 --> 00:25:46,600 Speaker 4: The President spent a long weekend at Camp David working 502 00:25:46,600 --> 00:25:49,119 Speaker 4: on the speech, and it's going to be, of course, 503 00:25:49,240 --> 00:25:52,000 Speaker 4: Candidate Joe Biden we're hearing from just as much as 504 00:25:52,040 --> 00:25:54,760 Speaker 4: it is President Joe Biden who we are hearing from. 505 00:25:54,800 --> 00:25:59,480 Speaker 4: Megan Hayes, Democratic strategist and former special assistant to the 506 00:25:59,480 --> 00:26:02,560 Speaker 4: President with us now to talk about it. Spent time 507 00:26:02,640 --> 00:26:06,240 Speaker 4: in this Biden White House as the director of Message Planning, 508 00:26:06,600 --> 00:26:09,760 Speaker 4: which is exactly the point of this entire operation. She 509 00:26:09,840 --> 00:26:12,679 Speaker 4: helped to prepare the President for States of the Union 510 00:26:12,720 --> 00:26:14,439 Speaker 4: past and Megan, it's great to see you back here 511 00:26:14,480 --> 00:26:14,960 Speaker 4: at the table. 512 00:26:15,000 --> 00:26:15,840 Speaker 5: Thank you for coming in. 513 00:26:16,320 --> 00:26:19,000 Speaker 4: Talk to me about the closing hours On a State 514 00:26:19,000 --> 00:26:22,119 Speaker 4: of the Union day like this, nothing else matters inside 515 00:26:22,160 --> 00:26:22,720 Speaker 4: the West. 516 00:26:22,480 --> 00:26:24,960 Speaker 7: Way, no, you know, you'll see the President doing speech, 517 00:26:25,240 --> 00:26:27,480 Speaker 7: rehearsing his speech from a teleprompter in one of the 518 00:26:27,520 --> 00:26:30,520 Speaker 7: rooms in the residence. He will also be going through 519 00:26:30,600 --> 00:26:34,520 Speaker 7: and making edits to the speech in real time. He'll 520 00:26:34,520 --> 00:26:36,879 Speaker 7: have his team of an advisor, so there'll be adjustments and 521 00:26:36,960 --> 00:26:39,040 Speaker 7: changes right up to the very last minute until he 522 00:26:39,080 --> 00:26:39,840 Speaker 7: gives this speech tonight. 523 00:26:41,200 --> 00:26:43,120 Speaker 5: This is something that is months in the making. When 524 00:26:43,119 --> 00:26:43,960 Speaker 5: does the process begin. 525 00:26:44,960 --> 00:26:48,360 Speaker 7: It probably begins, you know, early right before the holiday 526 00:26:48,359 --> 00:26:50,159 Speaker 7: season starts. They start to think about the messaging and 527 00:26:50,200 --> 00:26:52,399 Speaker 7: what drives what he wants to drive. There's also a 528 00:26:52,400 --> 00:26:55,760 Speaker 7: lot of contextualizing around bringing the people in from the 529 00:26:55,800 --> 00:26:57,600 Speaker 7: box that the first lady has and making sure that 530 00:26:57,600 --> 00:26:59,680 Speaker 7: those stories are people that he's met on the road 531 00:26:59,760 --> 00:27:01,520 Speaker 7: or different things. When I was there, we had someone 532 00:27:01,560 --> 00:27:04,320 Speaker 7: from that we'd met in Virginia who introduced him who 533 00:27:04,440 --> 00:27:07,879 Speaker 7: was a teenager who had his insulin costs lowered, so 534 00:27:07,920 --> 00:27:10,240 Speaker 7: that that process had started, you know, months out, and 535 00:27:10,280 --> 00:27:12,240 Speaker 7: then they just keep refining it and refining it, and 536 00:27:12,440 --> 00:27:14,360 Speaker 7: you know, I'm sure they have polling that also dictates 537 00:27:14,400 --> 00:27:14,679 Speaker 7: some of it. 538 00:27:14,720 --> 00:27:15,920 Speaker 10: Now that there's a campaign in place. 539 00:27:16,000 --> 00:27:20,040 Speaker 4: Yeah, it's added pressure this time for the president now, 540 00:27:20,080 --> 00:27:23,240 Speaker 4: of course running for reelection, but hearing stories and reading 541 00:27:23,280 --> 00:27:27,720 Speaker 4: analysis every day about his age seems like they're raising 542 00:27:27,760 --> 00:27:30,080 Speaker 4: the bar on this. Jeff Science, the chief staff, did 543 00:27:30,119 --> 00:27:33,719 Speaker 4: a bunch of interviews saying, get ready for it, energized 544 00:27:33,760 --> 00:27:35,840 Speaker 4: to Joe Biden, what's the deal with that? 545 00:27:35,920 --> 00:27:38,200 Speaker 5: Are? Are they making their lives more difficult here? 546 00:27:38,359 --> 00:27:39,560 Speaker 10: Yeah? To be honest, I think so. 547 00:27:39,880 --> 00:27:42,040 Speaker 7: The President has never been someone who gives speeches that 548 00:27:42,080 --> 00:27:42,959 Speaker 7: are super energetic. 549 00:27:42,960 --> 00:27:43,919 Speaker 10: That's just not his strength. 550 00:27:44,000 --> 00:27:45,920 Speaker 7: The president is a more of a one on one politician, 551 00:27:45,960 --> 00:27:48,280 Speaker 7: as everyone knows. I do think that this is one 552 00:27:48,320 --> 00:27:50,800 Speaker 7: speech in a moment in time. Voters in November aren't 553 00:27:50,800 --> 00:27:52,600 Speaker 7: going to think back, you know, eight months before and 554 00:27:52,640 --> 00:27:54,119 Speaker 7: be like, oh, that State of the Union speech that 555 00:27:54,240 --> 00:27:56,240 Speaker 7: really changed while I was going to vote. That's not 556 00:27:56,560 --> 00:27:59,359 Speaker 7: That's not really what's going to happen here. So I 557 00:27:59,400 --> 00:28:00,399 Speaker 7: do think it is important. 558 00:28:00,440 --> 00:28:01,040 Speaker 10: You don't want the. 559 00:28:00,960 --> 00:28:02,400 Speaker 7: News cycle to get away from you, and you don't 560 00:28:02,440 --> 00:28:04,640 Speaker 7: want to make a bunch of gafs unnecessarily and have 561 00:28:04,720 --> 00:28:07,480 Speaker 7: a bunch of unnecessary news cycles continuing about your age 562 00:28:07,520 --> 00:28:09,600 Speaker 7: or your low energy. So it is important for him 563 00:28:09,600 --> 00:28:10,879 Speaker 7: to hit the mark. I just think we need to 564 00:28:10,880 --> 00:28:13,119 Speaker 7: lower expectations a little bit and really focus on what 565 00:28:13,119 --> 00:28:14,240 Speaker 7: the state of the Union addresses. 566 00:28:14,280 --> 00:28:15,439 Speaker 5: Okay, so let's talk about it. 567 00:28:15,480 --> 00:28:17,200 Speaker 4: Because we're reporting that he's going to make the call 568 00:28:17,200 --> 00:28:20,520 Speaker 4: for higher taxes on the wealthy. That's a long and 569 00:28:20,560 --> 00:28:24,120 Speaker 4: consistent refrain for Joe Biden. He's also going to try 570 00:28:24,119 --> 00:28:26,000 Speaker 4: to talk about accomplishments tonight as well. 571 00:28:26,040 --> 00:28:26,760 Speaker 5: How much do you. 572 00:28:26,720 --> 00:28:29,960 Speaker 4: Need to balance, especially when you're running for reelection, what's 573 00:28:30,000 --> 00:28:31,800 Speaker 4: been done and what is left to do? 574 00:28:32,320 --> 00:28:34,359 Speaker 7: I think that he needs to draw a fair balance. 575 00:28:34,400 --> 00:28:36,040 Speaker 7: He also needs to draw a contrast tot Trump. He 576 00:28:36,080 --> 00:28:39,080 Speaker 7: needs to show people why it is important to vote 577 00:28:39,120 --> 00:28:41,360 Speaker 7: for the things that his vision for the future and 578 00:28:41,560 --> 00:28:43,280 Speaker 7: show people what he's done for them. I think he 579 00:28:43,320 --> 00:28:45,240 Speaker 7: needs to make it more granular, though than just fighting 580 00:28:45,240 --> 00:28:47,600 Speaker 7: for democracy and raising taxes. He needs to show people 581 00:28:47,600 --> 00:28:51,280 Speaker 7: how he's changing costs for things, because people every day, 582 00:28:51,320 --> 00:28:53,640 Speaker 7: people who are his voters and his base, are thinking 583 00:28:53,640 --> 00:28:55,720 Speaker 7: how they can't pay for their groceries. So he needs 584 00:28:55,720 --> 00:28:58,600 Speaker 7: to really show an impact where he's improved their lives. 585 00:28:58,680 --> 00:29:01,920 Speaker 4: We're spending time with Megan hayeswnmocratic strategist, someone who's been 586 00:29:01,960 --> 00:29:03,840 Speaker 4: there and been in the room, helping to prepare the 587 00:29:03,840 --> 00:29:08,640 Speaker 4: president for a State of the Union like tonight. The 588 00:29:08,680 --> 00:29:11,960 Speaker 4: spontaneity that the president enjoyed last year is something they're 589 00:29:11,960 --> 00:29:12,680 Speaker 4: trying to duplicate. 590 00:29:12,800 --> 00:29:13,920 Speaker 5: That can be a dangerous game. 591 00:29:15,120 --> 00:29:18,480 Speaker 4: How do you start gaming out potential scenarios and workshopping 592 00:29:18,520 --> 00:29:20,240 Speaker 4: lines that might work in the heat. 593 00:29:20,120 --> 00:29:20,560 Speaker 5: Of the moment. 594 00:29:20,680 --> 00:29:23,520 Speaker 7: Well, unfortunately for this president, that's not really a possibility. 595 00:29:23,520 --> 00:29:26,960 Speaker 7: The President is very sarcastic and witty all on his own, 596 00:29:27,200 --> 00:29:29,400 Speaker 7: so he will he will just live in the moment. 597 00:29:30,280 --> 00:29:32,080 Speaker 7: I mean, I'm not sure the president is. 598 00:29:32,240 --> 00:29:34,280 Speaker 5: The team, you know, the so called team preparing him 599 00:29:34,320 --> 00:29:35,200 Speaker 5: will trust him with them. 600 00:29:35,480 --> 00:29:37,080 Speaker 7: They will trust him to an extent. I mean they 601 00:29:37,120 --> 00:29:38,960 Speaker 7: will say to him, like he'll ask you think it's 602 00:29:38,960 --> 00:29:41,440 Speaker 7: a good idea if I respond to a criticism or 603 00:29:41,480 --> 00:29:43,600 Speaker 7: why criticism? But at the end of the day, the 604 00:29:43,640 --> 00:29:45,960 Speaker 7: president is a very witty and sarcastic person. 605 00:29:45,960 --> 00:29:46,720 Speaker 5: It's about the moment. 606 00:29:46,840 --> 00:29:47,400 Speaker 10: Yeah, and it's good. 607 00:29:47,600 --> 00:29:50,200 Speaker 4: Did you know that conversion line was coming last year. 608 00:29:50,320 --> 00:29:52,600 Speaker 4: I didn't the social security line, so that was something 609 00:29:52,600 --> 00:29:55,040 Speaker 4: that he just came up with in the moment. That's 610 00:29:55,080 --> 00:29:57,840 Speaker 4: the perfect thing that the moment you cannot plan for. 611 00:29:58,080 --> 00:29:59,960 Speaker 4: Should he be preparing for a hostile crowd? 612 00:30:00,680 --> 00:30:02,080 Speaker 10: I mean I think that there's going to be the 613 00:30:02,120 --> 00:30:02,840 Speaker 10: normal heckling. 614 00:30:02,880 --> 00:30:05,640 Speaker 5: I think that, well, the normal heckling. It wasn't that 615 00:30:05,720 --> 00:30:07,080 Speaker 5: long ago. That wasn't normal. 616 00:30:07,800 --> 00:30:10,160 Speaker 10: Fair, that's totally fair. Sorry, the heckling that he's been using. 617 00:30:10,520 --> 00:30:12,480 Speaker 5: This is normal now. This is part of the gig. 618 00:30:12,600 --> 00:30:13,600 Speaker 10: Absolutely. I do. 619 00:30:13,880 --> 00:30:16,959 Speaker 7: What I would wonder is how much heckling is going 620 00:30:17,000 --> 00:30:19,280 Speaker 7: to be from the Democratic side versus the Republican side. 621 00:30:19,280 --> 00:30:20,760 Speaker 7: Do you kind of already know what the Republicans are 622 00:30:20,760 --> 00:30:22,520 Speaker 7: going to say? But are you going to have members 623 00:30:22,520 --> 00:30:24,440 Speaker 7: of Congress that are out there, you know, saying something 624 00:30:24,440 --> 00:30:26,120 Speaker 7: about a ceasefire and gaza. 625 00:30:25,920 --> 00:30:28,040 Speaker 10: Or those sorts of protests from own your own tea? 626 00:30:28,080 --> 00:30:31,120 Speaker 5: Yeah, amazing. The guests were released. 627 00:30:31,360 --> 00:30:33,400 Speaker 4: I found it interesting and we might have talked about 628 00:30:33,440 --> 00:30:35,880 Speaker 4: this the other day on balance of power. Those who 629 00:30:35,880 --> 00:30:38,120 Speaker 4: are not coming made news. The first Lady of Ukraine 630 00:30:38,120 --> 00:30:41,320 Speaker 4: decided not to take an invitation. The widow of Alexi 631 00:30:41,360 --> 00:30:45,040 Speaker 4: Navalney did not. Will this be a big part of 632 00:30:45,080 --> 00:30:47,840 Speaker 4: the show as usual, the guests who are in the 633 00:30:47,840 --> 00:30:48,600 Speaker 4: first Lady's box. 634 00:30:48,680 --> 00:30:50,280 Speaker 7: Yeah, I think the guests play a part right there. 635 00:30:50,360 --> 00:30:53,080 Speaker 7: They are there to amplify portions of his speech. They 636 00:30:53,080 --> 00:30:55,160 Speaker 7: bring forth a moment, they go to those folks and 637 00:30:55,200 --> 00:30:57,960 Speaker 7: they cut away when he is talking about those specific 638 00:30:58,000 --> 00:30:59,560 Speaker 7: moments in time, like I mentioned when we have the 639 00:30:59,640 --> 00:31:03,080 Speaker 7: kid there with insulin. I don't think it's unusual that 640 00:31:04,920 --> 00:31:06,680 Speaker 7: the people who decline declined. 641 00:31:06,840 --> 00:31:08,560 Speaker 5: Yeah, Sean Fain is going to be there. 642 00:31:09,360 --> 00:31:14,680 Speaker 4: Interesting head of the UAW, the Swedish Prime Minister of course, 643 00:31:14,800 --> 00:31:18,680 Speaker 4: a new ally and member of the NATO Alliance will 644 00:31:18,720 --> 00:31:19,080 Speaker 4: be there. 645 00:31:19,200 --> 00:31:20,360 Speaker 5: Maria Shreiver. 646 00:31:21,560 --> 00:31:25,920 Speaker 4: Letoria Beasley, a woman from Alabama who was awaiting an 647 00:31:25,920 --> 00:31:29,200 Speaker 4: embryo transfer as part of her in vitro fertilization when 648 00:31:29,240 --> 00:31:31,440 Speaker 4: her procedure was abruptly canceled by the ruling. 649 00:31:31,880 --> 00:31:33,680 Speaker 5: This is clearly something the president is going to spend 650 00:31:33,720 --> 00:31:34,000 Speaker 5: time on. 651 00:31:34,280 --> 00:31:34,760 Speaker 10: Absolutely. 652 00:31:34,800 --> 00:31:37,840 Speaker 7: I mean, I think that reproductive freedom and rights to 653 00:31:38,200 --> 00:31:41,320 Speaker 7: women having a tommy with their body is a huge 654 00:31:41,320 --> 00:31:43,720 Speaker 7: issue moving into November. I do think that's one way 655 00:31:43,720 --> 00:31:46,360 Speaker 7: that he can peel away some votes from Trump and 656 00:31:46,400 --> 00:31:48,440 Speaker 7: the Nikki Healy folks that were voting for her that 657 00:31:48,480 --> 00:31:50,000 Speaker 7: I think that's one way he can get those people. 658 00:31:50,040 --> 00:31:52,360 Speaker 7: I think it's an extremely important issue. So I think 659 00:31:52,440 --> 00:31:55,480 Speaker 7: highlighting the IVF ruling in Alabama is huge and. 660 00:31:55,480 --> 00:31:59,040 Speaker 5: Call for restoring Roe v. Wade in a bigger message. 661 00:31:59,200 --> 00:32:00,640 Speaker 10: It all sort of goes together with that. 662 00:32:00,840 --> 00:32:01,040 Speaker 5: Yep. 663 00:32:01,080 --> 00:32:03,400 Speaker 4: Absolutely, does he need to make news on the border 664 00:32:03,440 --> 00:32:06,520 Speaker 4: tonight executive action an announcement of some sort of action. 665 00:32:07,040 --> 00:32:08,600 Speaker 7: I think he needs to say that there's going to 666 00:32:08,640 --> 00:32:12,600 Speaker 7: be more movement. I think calling for a calling for 667 00:32:12,640 --> 00:32:16,000 Speaker 7: a bipartisan bill it's important. But he just did that 668 00:32:16,040 --> 00:32:18,440 Speaker 7: and the Republicans didn't didn't play ball with it. So 669 00:32:18,640 --> 00:32:20,719 Speaker 7: it's just he's in a tough spot with the border. 670 00:32:21,320 --> 00:32:23,200 Speaker 7: Republicans are always going to think it's his fault when 671 00:32:23,920 --> 00:32:25,080 Speaker 7: at the end of the day, they are the ones 672 00:32:25,120 --> 00:32:28,880 Speaker 7: that ultimately stalled the bill from moving forward. So he's 673 00:32:28,880 --> 00:32:30,320 Speaker 7: in a little bit of tough spot. I don't know 674 00:32:30,360 --> 00:32:32,680 Speaker 7: that he will will call for I don't think he'll 675 00:32:32,680 --> 00:32:33,520 Speaker 7: do an executive action. 676 00:32:33,680 --> 00:32:36,160 Speaker 4: Is this a president who's making tweaks in the motorcade 677 00:32:36,160 --> 00:32:37,680 Speaker 4: on the way to the hill or is this baked? 678 00:32:37,920 --> 00:32:38,080 Speaker 6: Oh? 679 00:32:38,120 --> 00:32:39,200 Speaker 10: No, he's making tweaks. 680 00:32:39,560 --> 00:32:41,920 Speaker 7: This is one of the bones of contentions with your 681 00:32:41,960 --> 00:32:43,000 Speaker 7: colleagues in the media. 682 00:32:43,120 --> 00:32:46,520 Speaker 10: They would always want the remarks, were like, who will 683 00:32:46,520 --> 00:32:48,160 Speaker 10: give them to you? And we have them, So it's 684 00:32:48,160 --> 00:32:49,640 Speaker 10: always been a bone of contention there. 685 00:32:49,720 --> 00:32:52,280 Speaker 5: Thank you for sharing your first hand experience with us. 686 00:32:52,280 --> 00:32:55,160 Speaker 4: As always, Megan Hayes's Democratic strategist on the State of 687 00:32:55,200 --> 00:32:56,480 Speaker 4: the Union Day, Glad you're with us. 688 00:32:56,520 --> 00:33:02,520 Speaker 5: I'm Joe Matthew and Washington. This is Bloomberg. Thanks for 689 00:33:02,560 --> 00:33:04,600 Speaker 5: listening to the Balance of Power podcast. 690 00:33:05,200 --> 00:33:08,360 Speaker 4: Make sure to subscribe if you haven't already, at Apple, Spotify, 691 00:33:08,440 --> 00:33:11,000 Speaker 4: or wherever you get your podcasts, and you can find 692 00:33:11,080 --> 00:33:14,320 Speaker 4: us live every weekday from Washington, DC at noontime Eastern 693 00:33:14,600 --> 00:33:16,080 Speaker 4: at Bloomberg dot com.