WEBVTT - Midterm Polling Reliability; Democratic Representative Focuses on Accountability

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<v Speaker 6>Lifestyle, and culture.

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<v Speaker 3>We're two days away from the midterm elections that could

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<v Speaker 3>result in the change in congressional power.

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<v Speaker 7>More than a dozen states up for grabs.

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<v Speaker 3>Historically, a president's party does usually lose ground in a

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<v Speaker 3>midterm election. Current polls by The New York Times hinting

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<v Speaker 3>to that being the case this time around as well.

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<v Speaker 8>Yeah.

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<v Speaker 6>Joining us now is Tim O'Brien.

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<v Speaker 5>He is senior executive editor of Bloomberg Opinion and Ashley Koning.

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<v Speaker 5>the director of Rutgers University's Eagleton Center for.

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<v Speaker 6>Public Interest Polling. Thank you both for being here.

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<v Speaker 5>Ashley, I'm going to start right with you because you

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<v Speaker 5>are our polling expert.

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<v Speaker 6>I'll go right there.

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<v Speaker 5>Regarding Tuesday's election, what are we seeing so far as

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<v Speaker 5>far as which candidate would likely go for the House,

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<v Speaker 5>for the Senate?

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<v Speaker 6>What are you seeing so far?

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<v Speaker 9>We see in prediction models that now we're almost 90-plus

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<v Speaker 9>percent for the House. We're at around 70 percent for

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<v Speaker 9>the Senate. There could be a pickup of double-digit seats

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<v Speaker 9>for both of these. And so we're seeing this blue

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<v Speaker 9>wave really come to fruition in pre-election polling. And some

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<v Speaker 9>of the latest polling is just further pointing to that,

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<v Speaker 9>along with on the generic ballot, looking at double digits,

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<v Speaker 9>Democrats plus 10.

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<v Speaker 3>Tim, you've been at this for a long time, looking

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<v Speaker 3>at these polls, and I'm curious what stands out to

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<v Speaker 3>you this time around Charlie Cook talking about the red

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<v Speaker 3>undertow versus the blue wave. How are you thinking about

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<v Speaker 3>what the polls are saying and just the overall efficacy

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<v Speaker 3>of this kind of advanced polling?

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<v Speaker 10>Well, I think also, you know, Charlie Cook in that

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<v Speaker 10>post said he's covered 11 midterms.

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<v Speaker 11>Yeah.

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<v Speaker 10>And he's never seen one like this. And I think

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<v Speaker 10>it's accurate because midterms historically have an advantage for the—

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<v Speaker 10>opposing party. But this is way beyond what historical norms convey,

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<v Speaker 10>and I think it's a measure of the unpopularity of

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<v Speaker 10>President Trump, the fact that Americans are struggling with the basics,

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<v Speaker 10>you know, food and gas and utility prices. They don't

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<v Speaker 10>feel like they're seeing solutions. I think Republicans themselves aren't

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<v Speaker 10>enamored with Trump and with MAGA-ism in the way they were.

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<v Speaker 10>And I think that's gonna be, I mean, where Republican

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<v Speaker 10>voters come out in some of these deep red states.

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<v Speaker 10>You know, a year ago we were talking about John

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<v Speaker 10>Ossoff would be in a competitive race in Georgia. And

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<v Speaker 10>now he looks like he's coasting to a victory Roy

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<v Speaker 10>Cooper in North Carolina of the New Hampshire race is

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<v Speaker 10>another one. But then you look at Kansas and Iowa, Mississippi,

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<v Speaker 10>I'm skeptical that Democrats can win there, but there is

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<v Speaker 10>definitely forces in play that suggest they could. And that's,

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<v Speaker 10>in practical ways, you're seeing that in the amount of

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<v Speaker 10>money that's being spent in those states, not this late

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<v Speaker 10>in the midterm. Donald Trump is campaigning in places like Mississippi, Iowa,

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<v Speaker 10>and Kansas. So it's pretty extraordinary.

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<v Speaker 5>Now, Tim mentioned Iowa and Kansas. So, Ashley, I want

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<v Speaker 5>to ask you, as far as polls, what are people,

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<v Speaker 5>what are the top issues?

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<v Speaker 6>I'm thinking Iowa, Kansas.

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<v Speaker 5>It's got to be diesel prices, of course, because it's

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<v Speaker 5>a farming country. But what are some of the top issues?

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<v Speaker 9>I mean, really, it's affordability, affordability, affordability. This whole election,

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<v Speaker 9>and we've seen this now for the past couple of

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<v Speaker 9>years in special elections and gubernatorials and off-year elections.

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<v Speaker 1>It's about cost of living. It's about the economy.

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<v Speaker 9>It's about people being unable to afford their daily lives.

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<v Speaker 9>And this is a top issue, especially among those who

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<v Speaker 9>are siding with Democrats. And for over a decade now,

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<v Speaker 9>or for the first time in over a decade, Democrats

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<v Speaker 9>are actually seen as more favorable on helping the economy

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<v Speaker 9>than Republicans. And that is a complete flip from what

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<v Speaker 9>we've seen in the past in polling.

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<v Speaker 3>I was listening to noted Brooklyn philosopher Ezra Klein talking

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<v Speaker 3>about polling. And he was getting into the issue of

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<v Speaker 3>polling in Maine in particular, and I want to ask

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<v Speaker 3>you about that. Susan Collins has outperformed polls in many cycles.

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<v Speaker 3>Why is that the case, and how much confidence should

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<v Speaker 3>we have in the numbers that we're seeing going into

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<v Speaker 3>that race?

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<v Speaker 9>She has, and I think we're looking at that as

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<v Speaker 9>somewhat of a toss-up. We just saw some New York

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<v Speaker 9>Times-Siena results that had come out, and I think she's

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<v Speaker 9>up by about three or four right now. But she

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<v Speaker 9>has outperformed her polls. And of course, let's also not

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<v Speaker 9>ignore the incumbency factor and what name recognition and incumbency

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<v Speaker 9>does for a candidate, as well as, you know, she

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<v Speaker 9>has obviously been there for decades upon decades at this point.

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<v Speaker 9>And we know these polls will tighten and close as

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<v Speaker 9>we go to Election Day, especially those undecideds taking sides.

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<v Speaker 9>So given all of those strengths she has, this could

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<v Speaker 9>be something she could potentially still pull out. But still, obviously,

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<v Speaker 9>one of the close races we're watching.

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<v Speaker 5>Tim, we've heard the president talk a lot about saying,

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<v Speaker 5>you know, pretend I'm on the ballot, you know, vote

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<v Speaker 5>like I'm on the ballot. But everything we've been talking about, affordability,

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<v Speaker 5>the war in Iran, is that the right approach that

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<v Speaker 5>he's taking by saying that?

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<v Speaker 10>Certainly within the Republican Party itself, there's a number of

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<v Speaker 10>people who don't think it's the right approach. You look

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<v Speaker 10>in Kansas, you have candidates running away from him. I

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<v Speaker 10>think he's saying, I'm on the ballot because that worked

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<v Speaker 10>for him in general elections, and that there is truth

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<v Speaker 10>in that, that he has his own magnetism and charisma

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<v Speaker 10>as a candidate and with this base of voters who

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<v Speaker 10>are fiercely loyal to him on the far right of

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<v Speaker 10>the Republican Party. But in these state elections where everything

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<v Speaker 10>that is coming home to roost, he's the author of

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<v Speaker 10>the problem. The two primary causes of inflation right now

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<v Speaker 10>in the United States are Trump's tariffs and Trump's war

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<v Speaker 10>on Iran. And we often say presidents should be held

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<v Speaker 10>responsible for economic dynamics. They're complex. The business community plays

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<v Speaker 10>a role. The economy itself is its own machine. But

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<v Speaker 10>this is a unique moment in that you can really

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<v Speaker 10>tag the inflationary pressures that are troubling so many Americans

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<v Speaker 10>to Trump himself. So every time he walks into a race,

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<v Speaker 10>you have basically the human avatar for inflation coming into

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<v Speaker 10>your voting district. And those candidates don't want their voters

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<v Speaker 10>to be reminded that their party's responsible for this.

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<v Speaker 3>Let me talk a bit with you actually just about

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<v Speaker 3>the MAGA base that we've been discussing here. And there

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<v Speaker 3>was a fascinating poll by Politico in recent days here

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<v Speaker 3>looking at sort of how President Trump's base would react

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<v Speaker 3>were there to be a massive loss on the Republican side.

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<v Speaker 3>Majority of MAGA Trump voters, 54%, said that if Republicans

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<v Speaker 3>lose both the House and the Senate next week, it

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<v Speaker 3>would show that the party needs to move closer to

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<v Speaker 3>Trump and his agenda. What does something like that say

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<v Speaker 3>about the hold that he has, despite what might be

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<v Speaker 3>a very devastating policy setback for him going forward?

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<v Speaker 9>Yeah, that's a very interesting finding. And I think, you know,

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<v Speaker 9>first and foremost, it's who makes up the MAGA base

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<v Speaker 9>and what percentage are they especially turning out. We just

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<v Speaker 9>talked about turnout in midterms being different, obviously, from presidential years.

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<v Speaker 9>And the polls have been pretty on the money when

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<v Speaker 9>we're talking about these midterm cycles under the Trump era.

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<v Speaker 9>We know that the issue in polling has really stemmed

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<v Speaker 9>from Trump being at the top of the ballot. So,

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<v Speaker 9>you know, again, we pretty much were there in 2018

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<v Speaker 9>and then looking at 2022. So, you know, I think

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<v Speaker 9>that's a really interesting indication of just how much they

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<v Speaker 9>will support him. But there is a ceiling there, obviously,

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<v Speaker 9>where if they're not turning out in the midterms or

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<v Speaker 9>if there's not enough of them and they're not in

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<v Speaker 9>these key swing groups like Latinos or like suburban voters

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<v Speaker 9>or non-college educated, that only does so much for the

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<v Speaker 9>president in garnering him favorability and for the party as well.

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<v Speaker 5>Tim, I'm curious, if the Democrats do take over, what

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<v Speaker 5>does it mean for the Republican Party looking ahead to

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<v Speaker 5>the future?

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<v Speaker 6>Like, do they continue to hold.

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<v Speaker 5>President Trump as kind of this, you know, buying figure

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<v Speaker 5>over the party, or.

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<v Speaker 6>Do they kind of sit back a little bit more?

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<v Speaker 10>Well, I mean, I think both parties are going to

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<v Speaker 10>have challenges. You know, the Democrats can campaign now about

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<v Speaker 10>the problems of affordability. If they get power, especially if

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<v Speaker 10>they get, you know, a meaningful, if they get 235

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<v Speaker 10>or 240 seats in the House, they then have to

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<v Speaker 10>show they can address these problems. And that'll be especially

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<v Speaker 10>important going into the 2028 campaign, the presidential campaign. I,

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<v Speaker 10>you know, it is gonna be fascinating to watch what

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<v Speaker 10>happens with Republicans because in a normal world, they would just,

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<v Speaker 10>the ax would come down and the rope would get cut.

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<v Speaker 10>And Trump would be a profoundly lame, lame duck. However,

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<v Speaker 10>he is such a force of nature. I imagine that

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<v Speaker 10>he will probably go into areas where he can still

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<v Speaker 10>act unilaterally, primarily overseas. So he's going to present a

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<v Speaker 10>real problem for the Republicans in Congress about whether or

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<v Speaker 10>not they choose to restrain him. and then risk losing

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<v Speaker 10>his endorsement mojo going into the general election. So I

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<v Speaker 10>do think there's going to be a distancing. I just

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<v Speaker 10>don't know how overt and dramatic it'll be.

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<v Speaker 3>You know, it does strike me that right now we're

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<v Speaker 3>dealing with a Republican party that made a bet on

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<v Speaker 3>demographics being calcified. I think that the Latino vote exemplifies that,

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<v Speaker 3>where they kind of bet that what we saw in

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<v Speaker 3>the last cycle was going to play out here. That

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<v Speaker 3>seemed not to be the case. It seems to be

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<v Speaker 3>true of the young vote as well. They were able

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<v Speaker 3>to draw a lot of young male voters in particular

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<v Speaker 3>over during the last cycle. What does that say to

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<v Speaker 3>you just about their awareness of or sense of their electorate?

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<v Speaker 10>I mean, I think both parties, David, can lose track

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<v Speaker 10>of the fact that it is, in my mind, always

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<v Speaker 10>bread and butter issues that drive most voters to the polls.

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<v Speaker 10>They want the world to be a better place for

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<v Speaker 10>their kids. They want to be able to put food

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<v Speaker 10>on the table. They want good job prospects. When you

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<v Speaker 10>look at what's happened in the Rio Grande Valley, for example,

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<v Speaker 10>as one barometer of the Latino vote, I think they

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<v Speaker 10>voted for Trump despite his overt hostility to people of color,

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<v Speaker 10>to immigrants, to all of these traditions of attempting to

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<v Speaker 10>have civility around that conversation, because they thought he'd be

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<v Speaker 10>better for the economy.

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<v Speaker 5>And.

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<v Speaker 10>you could argue that Joe Biden lost the 2024 race

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<v Speaker 10>in 2022 when inflation started escalating. And it is passing

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<v Speaker 10>strange that Trump did not learn that lesson himself because

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<v Speaker 10>he campaigned against Biden on it. And I think to

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<v Speaker 10>win voters over, you have to meet their needs. And

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<v Speaker 10>I think this has been going on for a long time,

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<v Speaker 10>going back to the mid-1980s, particularly for the American middle

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<v Speaker 10>class and working class voters of color.

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<v Speaker 5>Ashley, how's the president's approval rating been going? I mean,

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<v Speaker 5>you're watching different polls. How does it vary from poll

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<v Speaker 5>to poll?

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<v Speaker 9>We see about 4 in 10 right now in terms

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<v Speaker 9>of approval on average. CNN and New York Times came

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<v Speaker 9>out with, I believe, 36 percent, which is the lowest

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<v Speaker 9>of either one of his terms. A couple weeks ago,

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<v Speaker 9>he was at a low point for a second. Now

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<v Speaker 9>we're looking at the lowest of both terms here. So,

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<v Speaker 9>you know, plummeting approval ratings when it comes to the economy,

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<v Speaker 9>when it comes to cost of living, all of these

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<v Speaker 9>issues that are at the top, and especially among swing voters—

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<v Speaker 9>we see that his approval ratings are even worse, and

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<v Speaker 9>that we see that his approval ratings on those particular

0:11:02.720 --> 0:11:05.440
<v Speaker 9>issues are further down than they are overall as well.

0:11:06.040 --> 0:11:08.390
<v Speaker 3>Tim, you mentioned the potential problems within the Democratic Party.

0:11:08.410 --> 0:11:10.350
<v Speaker 3>Let's turn our attention to Michigan and what we've seen

0:11:10.390 --> 0:11:12.770
<v Speaker 3>over these last few days there, where Abdullah Syed's in

0:11:12.790 --> 0:11:15.850
<v Speaker 3>this very close race with former Congressman Mike Rogers and

0:11:15.870 --> 0:11:17.610
<v Speaker 3>Haley Stevens, who ran against Mr.

0:11:17.630 --> 0:11:18.830
<v Speaker 7>Al-Syed in the primary.

0:11:18.850 --> 0:11:21.450
<v Speaker 3>It's really stirred up a lot of new tension that

0:11:21.470 --> 0:11:23.229
<v Speaker 3>you might have expected during the primary season, but now

0:11:23.250 --> 0:11:25.790
<v Speaker 3>we're seeing once again. What does that say to you

0:11:25.830 --> 0:11:30.000
<v Speaker 3>about this divide to lean on the old song about

0:11:30.059 --> 0:11:32.400
<v Speaker 3>the kind of centrist partisan divide within the party. Is

0:11:32.440 --> 0:11:34.560
<v Speaker 3>it telling you anything about that more broadly, or is

0:11:34.580 --> 0:11:36.100
<v Speaker 3>it kind of unique to Michigan's situation?

0:11:36.120 --> 0:11:37.160
<v Speaker 11>Well, I mean, in Michigan, I.

0:11:37.160 --> 0:11:39.760
<v Speaker 10>Think the divide over Israel was present in the primary.

0:11:40.820 --> 0:11:44.060
<v Speaker 10>That clearly seemed to have been put to bed up

0:11:44.100 --> 0:11:46.640
<v Speaker 10>until about this past week, and now that's been one

0:11:46.660 --> 0:11:50.970
<v Speaker 10>of the flashpoints that has separated El-Sayed and Haley Stevens.

0:11:53.250 --> 0:11:56.020
<v Speaker 10>Here's what it says to me. I think the Republicans

0:11:56.059 --> 0:11:59.300
<v Speaker 10>are radically good at staying on message even if it

0:11:59.360 --> 0:12:02.709
<v Speaker 10>occasionally forces them not to advocate for things they believe

0:12:02.750 --> 0:12:07.010
<v Speaker 10>in because they want to acquire power. They get in

0:12:07.090 --> 0:12:08.810
<v Speaker 10>line and they do what they have to do to

0:12:08.870 --> 0:12:12.070
<v Speaker 10>acquire power. I think by design and to its credit,

0:12:12.110 --> 0:12:14.410
<v Speaker 10>the Democratic Party is a bigger tent. It has a

0:12:14.550 --> 0:12:18.610
<v Speaker 10>lot of different waves of needs around policy and values.

0:12:20.280 --> 0:12:22.560
<v Speaker 10>When push comes to shove, if they want to acquire power,

0:12:22.840 --> 0:12:24.319
<v Speaker 10>they have to stay on message, and they have to

0:12:24.380 --> 0:12:29.890
<v Speaker 10>avoid these kinds of internal divisions two days before a midterm.

0:12:30.530 --> 0:12:35.470
<v Speaker 10>It boggles the imagination. They can't even jointly go to

0:12:35.490 --> 0:12:38.610
<v Speaker 10>a unity event orchestrated by people outside the two of them.

0:12:41.679 --> 0:12:42.620
<v Speaker 10>it's not a good signal.

0:12:42.940 --> 0:12:43.620
<v Speaker 8>It's not.

0:12:43.679 --> 0:12:46.319
<v Speaker 5>Early voting, what kind of signal does that present? I mean,

0:12:46.740 --> 0:12:49.220
<v Speaker 5>the Associated Press was saying about 50 million votes cast

0:12:49.240 --> 0:12:52.100
<v Speaker 5>so far. Texas, seven and a half million, a record there.

0:12:52.520 --> 0:12:54.000
<v Speaker 5>How does that affect polls?

0:12:54.440 --> 0:12:56.600
<v Speaker 9>Yeah, you know, I think we're, number one, we're up

0:12:56.679 --> 0:12:59.599
<v Speaker 9>over past midterms. Number two, we've seen kind of these

0:12:59.660 --> 0:13:03.160
<v Speaker 9>explosive historic trends in early voting throughout many states, especially

0:13:03.200 --> 0:13:06.300
<v Speaker 9>these battlegrounds. But we have to be careful because obviously

0:13:06.350 --> 0:13:08.430
<v Speaker 9>that's going to point to a lot more Democratic voters

0:13:08.510 --> 0:13:11.980
<v Speaker 9>simply because they're more likely to vote early. We see

0:13:12.020 --> 0:13:14.320
<v Speaker 9>more Republicans come out on election day. And so we

0:13:14.380 --> 0:13:17.490
<v Speaker 9>have to understand that the bigger blue wave going into

0:13:17.530 --> 0:13:20.190
<v Speaker 9>election day and election night is because of this early

0:13:20.250 --> 0:13:23.130
<v Speaker 9>voting and that this is obviously going to narrow and

0:13:23.190 --> 0:13:26.290
<v Speaker 9>taper off as we calculate and add in election night

0:13:26.330 --> 0:13:28.980
<v Speaker 9>results as well. You know, in terms of polls, we

0:13:29.000 --> 0:13:31.459
<v Speaker 9>accommodate for that. We ask people if they've already voted,

0:13:32.400 --> 0:13:34.180
<v Speaker 9>you know, and if they haven't, you know, how certain

0:13:34.220 --> 0:13:34.840
<v Speaker 9>they are to vote.

0:13:34.880 --> 0:13:36.439
<v Speaker 1>So polls try to incorporate that.

0:13:36.460 --> 0:13:38.460
<v Speaker 9>But of course, it makes it yet another challenge that

0:13:38.820 --> 0:13:40.500
<v Speaker 9>some of these people that we're talking to may have

0:13:40.530 --> 0:13:41.150
<v Speaker 9>voted already.

0:13:41.380 --> 0:13:43.699
<v Speaker 3>Is it a proxy for or an indicator for enthusiasm?

0:13:43.760 --> 0:13:45.740
<v Speaker 3>If someone's voting early, is it that or is it

0:13:45.760 --> 0:13:47.819
<v Speaker 3>just a matter of convenience? How do you think about that?

0:13:47.900 --> 0:13:49.920
<v Speaker 1>You know, I would say it's more partisanship.

0:13:50.140 --> 0:13:52.439
<v Speaker 9>But we also know that enthusiasm is also on Democrats'

0:13:52.460 --> 0:13:55.260
<v Speaker 9>side right now. Democrats are much more enthusiastic about voting

0:13:55.280 --> 0:13:57.700
<v Speaker 9>than Republicans. And so I think it's a little bit

0:13:57.720 --> 0:14:00.940
<v Speaker 9>of a combination of both of these. And obviously, those

0:14:00.960 --> 0:14:03.980
<v Speaker 9>who are unaffiliated, those who are registered as other parties, independents,

0:14:04.700 --> 0:14:06.160
<v Speaker 9>We don't know which way they're going. So that's the

0:14:06.200 --> 0:14:08.280
<v Speaker 9>mystery in all of this. We don't know who people

0:14:08.320 --> 0:14:10.719
<v Speaker 9>have voted for in early voting. We just know what

0:14:10.760 --> 0:14:11.840
<v Speaker 9>their registration says.

0:14:11.860 --> 0:14:12.420
<v Speaker 7>All right.

0:14:12.520 --> 0:14:14.500
<v Speaker 3>Ashley Koenig of Rutgers, thank you very much. Tim O'Brien,

0:14:14.780 --> 0:14:19.830
<v Speaker 3>executive editor of Bloomberg Opinion, thanks for your time. Stay

0:14:19.870 --> 0:14:23.010
<v Speaker 3>with us for more on Bloomberg This Weekend, right after this.

0:14:35.430 --> 0:14:38.010
<v Speaker 5>There are just two days to go until the midterm elections.

0:14:38.030 --> 0:14:40.290
<v Speaker 5>That'll determine the control of the House and the Senate

0:14:40.580 --> 0:14:43.220
<v Speaker 5>and potentially dictate how the final two years of the

0:14:43.240 --> 0:14:46.540
<v Speaker 5>Trump administration will play out in Washington. Now, one of

0:14:46.600 --> 0:14:50.620
<v Speaker 5>the 435 seats under contention in Tuesday's midterms includes current

0:14:50.680 --> 0:14:55.520
<v Speaker 5>Connecticut Representative Rosa DeLauro, who is seeking her 19th term

0:14:55.560 --> 0:14:56.700
<v Speaker 5>in the chamber. Quite a number.

0:14:57.120 --> 0:14:57.460
<v Speaker 1>19th term.

0:14:57.540 --> 0:15:00.230
<v Speaker 3>If victorious, she could end up chairing the Appropriations Committee

0:15:00.280 --> 0:15:03.140
<v Speaker 3>once again. which would likely have a significant impact on

0:15:03.160 --> 0:15:05.680
<v Speaker 3>the Trump agenda. We asked her about her plans for

0:15:05.710 --> 0:15:06.370
<v Speaker 3>that to come to pass.

0:15:06.390 --> 0:15:11.790
<v Speaker 8>I think that we're headed to a blue wave election,

0:15:12.290 --> 0:15:16.690
<v Speaker 8>and we're looking at the trends have not stopped, you know,

0:15:16.830 --> 0:15:22.290
<v Speaker 8>and every day they're adding more and more seats that

0:15:22.350 --> 0:15:26.600
<v Speaker 8>appear to be moving in a Democratic direction. I think

0:15:26.680 --> 0:15:29.300
<v Speaker 8>nothing for granted. I think we have, what, three days

0:15:29.380 --> 0:15:31.950
<v Speaker 8>left here, and we need to be... continue to be

0:15:32.010 --> 0:15:34.330
<v Speaker 8>focused like a laser on the issues that the American

0:15:34.350 --> 0:15:36.790
<v Speaker 8>people care about, which is the cost of living, the

0:15:36.850 --> 0:15:43.130
<v Speaker 8>issue of corruption, etc. But I'm optimistic about November 3rd.

0:15:43.430 --> 0:15:47.540
<v Speaker 8>This could be an election that gets us back to 2018,

0:15:47.540 --> 0:15:49.100
<v Speaker 8>where we picked up 36 seats.

0:15:49.380 --> 0:15:51.760
<v Speaker 5>Now, you've been raising alarms about people living paycheck should

0:15:51.800 --> 0:15:52.620
<v Speaker 5>paycheck for years.

0:15:53.840 --> 0:15:55.680
<v Speaker 6>But what's different this time around?

0:15:55.700 --> 0:15:57.100
<v Speaker 5>I mean, what do Democrats have to do to kind

0:15:57.140 --> 0:15:59.230
<v Speaker 5>of bring down the cost of living in this country?

0:15:59.850 --> 0:16:01.990
<v Speaker 8>Well, look, first of all, I think and I think

0:16:02.030 --> 0:16:07.100
<v Speaker 8>it's very important to note, you know, that Democrats understood

0:16:07.120 --> 0:16:12.730
<v Speaker 8>this is nationwide that. People were suffering. People are living

0:16:12.770 --> 0:16:17.680
<v Speaker 8>paycheck to paycheck. They're struggling to pay groceries, utilities, housing,

0:16:17.760 --> 0:16:21.760
<v Speaker 8>gas prices, health care, all of it. There's a reality.

0:16:22.020 --> 0:16:27.220
<v Speaker 8>The Democrats understood that. And across the country, they have

0:16:27.680 --> 0:16:33.050
<v Speaker 8>focused on that issue with the American people. That has

0:16:34.220 --> 0:16:39.990
<v Speaker 8>created a view that, well, people are understanding what is

0:16:40.010 --> 0:16:43.860
<v Speaker 8>going on in our lives, but there's also the understanding

0:16:44.200 --> 0:16:49.740
<v Speaker 8>that the Trump administration has made this worse. They have

0:16:50.140 --> 0:16:54.080
<v Speaker 8>a war of choice, which has raised gas prices, whether

0:16:54.140 --> 0:16:58.420
<v Speaker 8>it's regular or diesel, that has driven up the cost

0:16:59.210 --> 0:17:03.890
<v Speaker 8>of groceries for people. They have a tariff war, which

0:17:03.970 --> 0:17:06.570
<v Speaker 8>is costing them anywhere from $ 1, 800 to almost $ 3, 600 a year.

0:17:10.369 --> 0:17:16.179
<v Speaker 8>with these costs. So you have the combination of picking

0:17:16.260 --> 0:17:20.540
<v Speaker 8>up on an affordability issue, but an administration that has

0:17:20.600 --> 0:17:24.530
<v Speaker 8>done nothing. And not only have done nothing, the president

0:17:24.570 --> 0:17:28.470
<v Speaker 8>doesn't believe there's an affordability crisis. He says it's a hoax. Well,

0:17:28.990 --> 0:17:31.730
<v Speaker 8>if you're a billionaire or a millionaire, yeah, it's a hoax,

0:17:32.350 --> 0:17:36.340
<v Speaker 8>you know, but You know, folks are really struggling. That's

0:17:36.380 --> 0:17:42.949
<v Speaker 8>been picked up. And the unbelievable lack of understanding and

0:17:43.050 --> 0:17:49.889
<v Speaker 8>compounding that economic crisis for people have, you know, juxtaposed,

0:17:50.840 --> 0:17:53.100
<v Speaker 8>you know, and are creating, in my view, a blue

0:17:53.119 --> 0:17:53.740
<v Speaker 8>wave election.

0:17:54.590 --> 0:17:56.670
<v Speaker 3>If this breaks your way on Tuesday, you stand to

0:17:56.810 --> 0:17:59.730
<v Speaker 3>reclaim that gavel on the Appropriations Committee. And I wonder

0:17:59.770 --> 0:18:01.990
<v Speaker 3>sort of what you would prioritize were that to come

0:18:02.109 --> 0:18:04.430
<v Speaker 3>to pass? How would you approach leadership of that committee again?

0:18:05.359 --> 0:18:08.420
<v Speaker 8>Sure. Thank you. Thank you for the question. Look, first

0:18:08.460 --> 0:18:11.020
<v Speaker 8>of all, and I will run for the office. I

0:18:11.060 --> 0:18:13.540
<v Speaker 8>do not have a challenger. I don't take anything for granted,

0:18:13.560 --> 0:18:15.020
<v Speaker 8>but I will be in touch with all of my

0:18:15.060 --> 0:18:18.420
<v Speaker 8>colleagues to ask for their support and talk about where

0:18:18.460 --> 0:18:21.800
<v Speaker 8>they want to go on this. But My priorities at

0:18:21.840 --> 0:18:26.840
<v Speaker 8>the moment are to use the Appropriations Committee to address

0:18:26.940 --> 0:18:31.480
<v Speaker 8>the affordability crisis. And that means because we deal with

0:18:31.540 --> 0:18:36.790
<v Speaker 8>health care, we deal with housing, we deal with. transportation, agriculture,

0:18:37.150 --> 0:18:41.490
<v Speaker 8>you know, the 12 committees where we can look at

0:18:41.540 --> 0:18:45.120
<v Speaker 8>the programs that are affecting people's lives, redress what this

0:18:45.200 --> 0:18:48.360
<v Speaker 8>administration has done to cut back in all of these

0:18:48.480 --> 0:18:51.340
<v Speaker 8>areas and to put money back in people's pockets. So

0:18:51.400 --> 0:18:54.800
<v Speaker 8>I will use the committee to do that. I also,

0:18:54.859 --> 0:18:57.100
<v Speaker 8>from my own view, which I have been the author

0:18:57.140 --> 0:18:59.840
<v Speaker 8>of the child tax credit, I'm going to move forward

0:19:00.240 --> 0:19:03.880
<v Speaker 8>on doing that, paid family and medical leave. universal child

0:19:03.920 --> 0:19:07.240
<v Speaker 8>care universal health care those are all directions to go

0:19:07.280 --> 0:19:10.379
<v Speaker 8>in but first and foremost for me is appropriations and

0:19:10.440 --> 0:19:14.250
<v Speaker 8>addressing the problem secondly on that yeah i'm going to

0:19:14.290 --> 0:19:20.790
<v Speaker 8>look at accountability it's not going to be frivolous but

0:19:20.930 --> 0:19:24.560
<v Speaker 8>i want to find out what they have done with

0:19:24.619 --> 0:19:29.540
<v Speaker 8>the money that has been appropriated by Democrats and Republicans,

0:19:30.160 --> 0:19:34.090
<v Speaker 8>signed by the president to law. And now the president

0:19:34.460 --> 0:19:37.369
<v Speaker 8>and an office of management and budget with Russell Vogt

0:19:37.810 --> 0:19:41.530
<v Speaker 8>has stolen this money from the American people. And we

0:19:41.570 --> 0:19:44.410
<v Speaker 8>need to find out what they have done and where

0:19:44.470 --> 0:19:48.130
<v Speaker 8>this money has gone. So there will be an oversight

0:19:48.170 --> 0:19:51.290
<v Speaker 8>component of the appropriation Committee.

0:19:51.310 --> 0:19:53.250
<v Speaker 5>Now, I have to say, you're seeking a sort of

0:19:53.310 --> 0:19:55.290
<v Speaker 5>19th term in the House. I believe it's the longest

0:19:55.390 --> 0:19:59.560
<v Speaker 5>serving House member from Connecticut. I have to ask, how

0:19:59.580 --> 0:20:03.640
<v Speaker 5>has campaigning changed since you first got in the game?

0:20:03.660 --> 0:20:05.619
<v Speaker 5>I'm curious to see your side of it.

0:20:06.380 --> 0:20:10.470
<v Speaker 8>Well, the biggest change has been social media, you know.

0:20:11.330 --> 0:20:12.220
<v Speaker 11>Are you all over it?

0:20:12.310 --> 0:20:12.750
<v Speaker 6>You are.

0:20:14.430 --> 0:20:14.650
<v Speaker 3>Right.

0:20:15.770 --> 0:20:17.790
<v Speaker 8>You know, if you can't keep up with the times,

0:20:17.810 --> 0:20:19.950
<v Speaker 8>you got to get out of the way and don't bother.

0:20:20.080 --> 0:20:23.740
<v Speaker 8>But this is the way it goes. But, you know,

0:20:25.380 --> 0:20:29.940
<v Speaker 8>campaigning for me is, you know, it's mano a mano.

0:20:30.160 --> 0:20:32.990
<v Speaker 8>It's one on one, you know, where you do have

0:20:33.030 --> 0:20:35.990
<v Speaker 8>to listen to people. And I think folks have felt

0:20:36.030 --> 0:20:39.879
<v Speaker 8>that they have not been listened to in the past.

0:20:40.300 --> 0:20:42.520
<v Speaker 8>And that's by both parties, and the Democrats have to

0:20:42.580 --> 0:20:44.980
<v Speaker 8>take blame for that as well. I think now is

0:20:45.040 --> 0:20:49.780
<v Speaker 8>our time to, you know, to assert our understanding of

0:20:49.840 --> 0:20:53.400
<v Speaker 8>people's lives. And you said earlier, I've been focused on

0:20:53.740 --> 0:20:56.159
<v Speaker 8>cost of living and the affordable issue over the last

0:20:56.330 --> 0:21:03.630
<v Speaker 8>four years. And so, and I believe that while we're

0:21:03.670 --> 0:21:07.800
<v Speaker 8>going to win and while the challenges are ahead, are serious.

0:21:08.800 --> 0:21:15.770
<v Speaker 8>But we can do this. We will be in the majority.

0:21:16.150 --> 0:21:18.130
<v Speaker 8>And then we can take on these issues and do

0:21:18.190 --> 0:21:19.050
<v Speaker 8>something about it.

0:21:19.690 --> 0:21:21.490
<v Speaker 11>Let me ask you about Election Day itself.

0:21:21.609 --> 0:21:23.490
<v Speaker 3>And I think of when I drive on 95 past

0:21:23.530 --> 0:21:25.730
<v Speaker 3>New Haven, I look out and see all of those

0:21:25.790 --> 0:21:26.750
<v Speaker 3>food trucks.

0:21:26.850 --> 0:21:29.710
<v Speaker 11>Right there on the edge of Long Island Sound.

0:21:29.760 --> 0:21:29.890
<v Speaker 8>Right.

0:21:30.270 --> 0:21:33.210
<v Speaker 3>And it represents so many different countries and their cuisines.

0:21:33.230 --> 0:21:34.330
<v Speaker 3>I mean, I think of New Haven as a very

0:21:34.369 --> 0:21:37.209
<v Speaker 3>diverse city and, of course, so central to your district.

0:21:37.510 --> 0:21:38.630
<v Speaker 11>Look, there is the threat.

0:21:38.690 --> 0:21:40.929
<v Speaker 3>We've heard it here that there could be ICE agents

0:21:40.950 --> 0:21:43.959
<v Speaker 3>or immigration agents deployed to polling sites. How are you

0:21:44.020 --> 0:21:47.139
<v Speaker 3>thinking about what has been floated? Indeed, we've seen the

0:21:47.160 --> 0:21:48.940
<v Speaker 3>administration kind of walk that back or say there isn't

0:21:48.960 --> 0:21:50.459
<v Speaker 3>a plan in many places to do that.

0:21:50.700 --> 0:21:52.560
<v Speaker 11>How are you thinking about the way that voting.

0:21:52.340 --> 0:21:54.220
<v Speaker 3>Is going to proceed and how comfortable people will feel

0:21:54.240 --> 0:21:55.510
<v Speaker 3>going to the polls on Election Day?

0:21:55.920 --> 0:21:58.810
<v Speaker 8>Well, I think we're trying to. Do I think that

0:21:58.850 --> 0:22:03.330
<v Speaker 8>there's opportunity here for disruption? I really do. But I

0:22:03.390 --> 0:22:06.390
<v Speaker 8>think we are prepared. And I'll talk about New Haven.

0:22:06.810 --> 0:22:13.070
<v Speaker 8>I spoke with the mayor yesterday morning because the Department

0:22:13.090 --> 0:22:15.510
<v Speaker 8>of Justice has said they're going to send in monitors.

0:22:16.450 --> 0:22:20.659
<v Speaker 8>And look, people monitoring the election, that is fine. But

0:22:20.700 --> 0:22:23.179
<v Speaker 8>we were clear. I sent out a statement on it,

0:22:23.200 --> 0:22:28.560
<v Speaker 8>the president. as did the mayor, and they sent a

0:22:28.600 --> 0:22:31.440
<v Speaker 8>letter back. The city sent a letter back saying they

0:22:31.500 --> 0:22:36.280
<v Speaker 8>understand monitoring, but these individuals really don't have any authority

0:22:36.320 --> 0:22:41.480
<v Speaker 8>to go inside the polls and to remove people or

0:22:41.530 --> 0:22:45.230
<v Speaker 8>do anything of that sort. On the national front, I'm

0:22:45.350 --> 0:22:48.730
<v Speaker 8>very proud of the efforts that have been made by

0:22:49.869 --> 0:22:53.570
<v Speaker 8>our leader, Hakeem Jeffries, and Congressman Morelli from New York,

0:22:54.460 --> 0:23:00.109
<v Speaker 8>who have put in place a national infrastructure about how

0:23:00.990 --> 0:23:04.990
<v Speaker 8>training people, how people ought to deal with if a

0:23:05.210 --> 0:23:10.520
<v Speaker 8>federal agency comes on the premises or another ICE agency,

0:23:11.460 --> 0:23:16.270
<v Speaker 8>really how to handle these situations. And the local training,

0:23:16.410 --> 0:23:19.370
<v Speaker 8>I know that folks here in New Haven, the people

0:23:19.390 --> 0:23:21.340
<v Speaker 8>who are going to be at the polls have gone

0:23:21.390 --> 0:23:24.460
<v Speaker 8>through a training session on all of this. So we're

0:23:24.480 --> 0:23:27.240
<v Speaker 8>going to be prepared. Do I think it will happen? Yes,

0:23:27.340 --> 0:23:27.700
<v Speaker 8>I do.

0:23:28.420 --> 0:23:30.560
<v Speaker 5>I want to see if you can expand more on

0:23:30.580 --> 0:23:33.119
<v Speaker 5>the shift in the political landscape, because if you look

0:23:33.160 --> 0:23:34.859
<v Speaker 5>at the number of Democrats have kind of held that

0:23:34.900 --> 0:23:37.980
<v Speaker 5>grip on the New Hampshire, New Haven based district since

0:23:38.100 --> 0:23:39.570
<v Speaker 5>about what, the 1980s.

0:23:40.380 --> 0:23:42.760
<v Speaker 6>And you said you started to see a shift. What

0:23:42.780 --> 0:23:44.030
<v Speaker 6>do you think is causing that?

0:23:45.030 --> 0:23:50.790
<v Speaker 8>Well, I think it's, again, the frustration in people's lives

0:23:51.609 --> 0:23:58.710
<v Speaker 8>about how they are able to cope with their economic circumstances,

0:23:59.240 --> 0:24:01.780
<v Speaker 8>how they are going to be able to raise their family,

0:24:02.100 --> 0:24:05.260
<v Speaker 8>get their kids to school, pay for their health care,

0:24:05.740 --> 0:24:11.540
<v Speaker 8>be able to afford a home. I think that that

0:24:11.660 --> 0:24:14.520
<v Speaker 8>struggle has been there for a while. And I believe

0:24:14.950 --> 0:24:23.550
<v Speaker 8>that they haven't thought that Democrats were focusing on that issue.

0:24:23.950 --> 0:24:26.950
<v Speaker 8>I think they listened to what have been the lies

0:24:27.470 --> 0:24:30.870
<v Speaker 8>of a Donald Trump, of saying that he was gonna,

0:24:31.530 --> 0:24:33.689
<v Speaker 8>on the first day he was gonna do something and

0:24:34.010 --> 0:24:38.330
<v Speaker 8>bring prices down, address people's concerns, none of which he

0:24:38.390 --> 0:24:42.350
<v Speaker 8>has done. And that's part of what we see in

0:24:42.410 --> 0:24:47.740
<v Speaker 8>terms of Tuesday's elections, But I believe that people have

0:24:48.440 --> 0:24:52.610
<v Speaker 8>been moving to the right. And I think you have

0:24:52.650 --> 0:24:56.030
<v Speaker 8>to understand the changing natures of the districts that you

0:24:56.109 --> 0:25:01.760
<v Speaker 8>run in. And it's not just slam dunk overall. And again,

0:25:01.840 --> 0:25:05.300
<v Speaker 8>trying to understand where people are coming from and to

0:25:05.359 --> 0:25:08.400
<v Speaker 8>engage with the conversations of them.

0:25:08.420 --> 0:25:08.490
<v Speaker 5>Why?

0:25:10.570 --> 0:25:14.380
<v Speaker 8>Why they are moving. You've also seen a very, very

0:25:14.450 --> 0:25:20.020
<v Speaker 8>big push by the administration on fear and cultural issues

0:25:21.000 --> 0:25:26.960
<v Speaker 8>that concern people as well. The issues of public safety

0:25:28.480 --> 0:25:37.540
<v Speaker 8>are there. So those issues really have an effect on

0:25:37.980 --> 0:25:39.040
<v Speaker 8>people and their thinking.

0:25:39.980 --> 0:25:40.619
<v Speaker 11>Last question here.

0:25:40.640 --> 0:25:42.379
<v Speaker 3>We had Gregory Meeks, your colleague from New York, on

0:25:42.400 --> 0:25:44.379
<v Speaker 3>the show yesterday. And I said, are you using the

0:25:44.500 --> 0:25:47.320
<v Speaker 3>I word? Are you saying impeachment? And he said, I'm

0:25:47.359 --> 0:25:50.520
<v Speaker 3>not utilizing the I word. I'm using the O word, oversight,

0:25:50.560 --> 0:25:53.830
<v Speaker 3>the T word, transparency. Are you talking about or thinking

0:25:53.869 --> 0:25:55.740
<v Speaker 3>about impeachment in the context of this next Congress?

0:25:55.940 --> 0:25:59.190
<v Speaker 8>I am in lockstep with my dear friend and colleague,

0:25:59.369 --> 0:26:02.870
<v Speaker 8>Greg Meeks. I'm not going down that road. I want

0:26:02.890 --> 0:26:05.189
<v Speaker 8>to deal. As I said to you, I want to

0:26:05.250 --> 0:26:08.770
<v Speaker 8>move on appropriations. I want to get those I want

0:26:08.790 --> 0:26:11.290
<v Speaker 8>to get this process back on track. I want to

0:26:11.330 --> 0:26:14.030
<v Speaker 8>make sure we're meeting the needs of the American people.

0:26:14.330 --> 0:26:19.200
<v Speaker 8>And I said two things. I said oversight, transparency, accountability,

0:26:19.580 --> 0:26:22.780
<v Speaker 8>in addition to addressing the needs of the American people.

0:26:25.720 --> 0:26:28.270
<v Speaker 2>Stay with us for more on Bloomberg this weekend, right

0:26:28.330 --> 0:26:28.710
<v Speaker 2>after this.

0:26:41.470 --> 0:26:44.020
<v Speaker 3>More than 60,000 people will take to the streets and

0:26:44.040 --> 0:26:44.860
<v Speaker 3>bridges of New.

0:26:44.800 --> 0:26:47.760
<v Speaker 7>York City today for the 55th New York City Marathon.

0:26:47.960 --> 0:26:48.459
<v Speaker 4>Ah, runners.

0:26:48.480 --> 0:26:50.720
<v Speaker 5>They'll tell you it's just about endurance. It's not just

0:26:50.760 --> 0:26:54.190
<v Speaker 5>about that. What's really about it is what's on your feet.

0:26:54.230 --> 0:26:56.050
<v Speaker 6>That's what matters. And we sat down with one of

0:26:56.070 --> 0:26:59.149
<v Speaker 6>those marathon runners. He is the CEO of Brooks Running.

0:26:59.650 --> 0:27:01.870
<v Speaker 5>To hear what his company is finishing first and among

0:27:01.890 --> 0:27:02.950
<v Speaker 5>those many top athletes.

0:27:04.190 --> 0:27:05.020
<v Speaker 6>This is a big day.

0:27:05.230 --> 0:27:07.960
<v Speaker 5>Marathon day. New York City Marathon. Is this like your

0:27:08.000 --> 0:27:08.580
<v Speaker 5>Super Bowl?

0:27:08.600 --> 0:27:12.420
<v Speaker 4>It absolutely is. I love being in the city for

0:27:12.460 --> 0:27:15.040
<v Speaker 4>the New York City Marathon. And we're here to celebrate

0:27:15.080 --> 0:27:18.580
<v Speaker 4>the sport and all of our athletes and employees, friends,

0:27:18.700 --> 0:27:20.440
<v Speaker 4>customers that are running. So it's great.

0:27:20.640 --> 0:27:22.860
<v Speaker 5>Yeah, I have to admit, I ran my first marathon

0:27:23.070 --> 0:27:25.629
<v Speaker 5>way a few years back, over 10 years ago, and

0:27:25.650 --> 0:27:29.030
<v Speaker 5>I did have the brooks on my feet. Now, have

0:27:29.050 --> 0:27:29.930
<v Speaker 5>you run marathons before?

0:27:29.950 --> 0:27:30.790
<v Speaker 11>I have, yeah.

0:27:30.850 --> 0:27:35.369
<v Speaker 4>The marathon maybe is the hardest distance in run, right?

0:27:35.430 --> 0:27:38.170
<v Speaker 4>And so you got to do it. And I actually

0:27:38.210 --> 0:27:40.940
<v Speaker 4>ran the 2001 New York City Marathon, so I know

0:27:40.960 --> 0:27:42.399
<v Speaker 4>what the experience is like.

0:27:42.460 --> 0:27:43.680
<v Speaker 11>And It's incredible.

0:27:43.720 --> 0:27:45.840
<v Speaker 4>The city just comes out from every corner.

0:27:46.080 --> 0:27:47.000
<v Speaker 1>The energy, right?

0:27:47.040 --> 0:27:48.280
<v Speaker 4>The energy is incredible.

0:27:48.300 --> 0:27:50.240
<v Speaker 5>You got to love the energy in New York. I

0:27:50.280 --> 0:27:53.100
<v Speaker 5>want to get to Brooks and talk about revenue growth.

0:27:53.119 --> 0:27:56.520
<v Speaker 5>The company's been growing. Talk to us what you attributed

0:27:56.560 --> 0:27:57.000
<v Speaker 5>that to.

0:27:57.119 --> 0:27:57.359
<v Speaker 8>Yeah.

0:27:57.660 --> 0:28:01.919
<v Speaker 4>Well, we're in our 13th consecutive quarter of growth. It's

0:28:01.920 --> 0:28:04.760
<v Speaker 4>25 years that we've been focused on this category. Over

0:28:04.820 --> 0:28:09.330
<v Speaker 4>that 25-year period, 14% compounded annual growth rate. So I

0:28:09.430 --> 0:28:12.929
<v Speaker 4>often say we picked a great category and a great consumer,

0:28:13.369 --> 0:28:16.230
<v Speaker 4>and we're focused on the products that are meaningful in

0:28:16.300 --> 0:28:20.480
<v Speaker 4>the sport. So we innovate for the athlete and the sport.

0:28:20.940 --> 0:28:24.180
<v Speaker 4>And our focus specifically on run is a competitive advantage.

0:28:24.220 --> 0:28:26.879
<v Speaker 4>We don't do anything else. 1,600 of us get up

0:28:26.980 --> 0:28:29.260
<v Speaker 4>every single day and all we do is think about running.

0:28:30.000 --> 0:28:30.340
<v Speaker 8>It is.

0:28:30.720 --> 0:28:32.359
<v Speaker 5>And not just the sport of running, but you get

0:28:32.400 --> 0:28:35.840
<v Speaker 5>into regular street wear type of shoes too, correct, for Brooks?

0:28:35.900 --> 0:28:36.220
<v Speaker 11>Correct.

0:28:36.260 --> 0:28:39.560
<v Speaker 4>We just launched a lifestyle line. So Brooks is a

0:28:39.580 --> 0:28:43.650
<v Speaker 4>112-year-old company. So we have a big catalog of some

0:28:43.790 --> 0:28:46.510
<v Speaker 4>great iconic styles that are coming back into the line.

0:28:46.550 --> 0:28:49.830
<v Speaker 4>And that That category of lifestyle is pretty hot right now,

0:28:49.910 --> 0:28:50.670
<v Speaker 4>and we're right in the.

0:28:50.610 --> 0:28:51.330
<v Speaker 11>Middle of it. It is.

0:28:51.350 --> 0:28:53.130
<v Speaker 5>You see people wearing them around the streets.

0:28:53.150 --> 0:28:54.710
<v Speaker 4>Performance is what people want to wear.

0:28:54.910 --> 0:28:55.670
<v Speaker 6>Around the office.

0:28:56.170 --> 0:28:59.240
<v Speaker 5>You mentioned the consumer earlier. So how is the consumer doing?

0:28:59.740 --> 0:29:02.370
<v Speaker 4>Yeah, I think in our category, it's fair to say

0:29:02.400 --> 0:29:06.730
<v Speaker 4>that it's very stable. And the reason is that the

0:29:06.830 --> 0:29:09.710
<v Speaker 4>run or health and wellness or just moving is super

0:29:09.770 --> 0:29:14.130
<v Speaker 4>important in people's lives and they're choosing performance products. So

0:29:14.510 --> 0:29:17.250
<v Speaker 4>our consumer is really, really healthy. And if you look

0:29:17.330 --> 0:29:22.470
<v Speaker 4>historically in our category during really tough macro times, They

0:29:22.510 --> 0:29:25.880
<v Speaker 4>hold up. They choose to purchase a pair of running shoes.

0:29:26.440 --> 0:29:29.000
<v Speaker 4>Shoes are pretty affordable if you think about all the

0:29:29.060 --> 0:29:34.120
<v Speaker 4>other categories in sporting goods. Ski gear, hockey. Those are

0:29:34.160 --> 0:29:37.910
<v Speaker 4>big ticket items. We're a pretty affordable sport, so the

0:29:37.950 --> 0:29:38.910
<v Speaker 4>run makes the cut.

0:29:39.390 --> 0:29:39.970
<v Speaker 1>Now, are you thinking.

0:29:39.990 --> 0:29:42.550
<v Speaker 5>are people, let's say, because times are tough, are they

0:29:42.710 --> 0:29:44.750
<v Speaker 5>giving up certain other things to make sure they get

0:29:44.810 --> 0:29:45.910
<v Speaker 5>the right shoes?

0:29:46.270 --> 0:29:47.370
<v Speaker 6>Has it come to that sometimes?

0:29:47.630 --> 0:29:50.620
<v Speaker 4>Yeah, I don't know if we know enough data if

0:29:50.650 --> 0:29:53.000
<v Speaker 4>they're giving up other things. What I can tell you

0:29:53.020 --> 0:29:55.120
<v Speaker 4>is they're prioritizing moving.

0:29:55.460 --> 0:29:55.540
<v Speaker 5>Okay.

0:29:56.020 --> 0:29:59.080
<v Speaker 4>And when we deliver the right product to the right

0:29:59.120 --> 0:30:03.540
<v Speaker 4>consumer at the right value prop, our business is really good.

0:30:03.600 --> 0:30:07.160
<v Speaker 4>We're growing 12% year to date. Around the world, we're growing.

0:30:07.200 --> 0:30:11.580
<v Speaker 4>In Europe, we're up 24%. So the run is the

0:30:11.720 --> 0:30:13.020
<v Speaker 4>it category right now.

0:30:13.220 --> 0:30:14.820
<v Speaker 6>You mentioned Europe, so I want to talk Germany.

0:30:15.600 --> 0:30:18.870
<v Speaker 5>Top spot in Germany for adult performance running footwear across

0:30:19.090 --> 0:30:20.530
<v Speaker 5>all price points.

0:30:20.970 --> 0:30:23.450
<v Speaker 6>How have you kind of changed your approach globally?

0:30:23.900 --> 0:30:28.239
<v Speaker 4>Yeah, I think what's super unique about this consumer is

0:30:28.370 --> 0:30:31.630
<v Speaker 4>they're choosing this sport for kind of the same reasons

0:30:31.710 --> 0:30:35.290
<v Speaker 4>no matter what market. It's an investment in themselves for

0:30:35.330 --> 0:30:40.010
<v Speaker 4>health and wellness, longevity. We think there's four generations right

0:30:40.070 --> 0:30:43.710
<v Speaker 4>now that are squarely in our addressable market. Baby boomers,

0:30:43.880 --> 0:30:47.780
<v Speaker 4>Gen X, millennials, and Gen Z. Gen Z's coming squarely

0:30:47.840 --> 0:30:50.620
<v Speaker 4>into this. But this is happening around the world. The

0:30:50.700 --> 0:30:53.000
<v Speaker 4>running boom is real, and we're in a running boom

0:30:53.040 --> 0:30:53.380
<v Speaker 4>right now.

0:30:53.790 --> 0:30:56.860
<v Speaker 5>You had mentioned earlier, I heard in past interviews about

0:30:57.000 --> 0:30:59.720
<v Speaker 5>kind of moving more into China, where a lot of

0:30:59.760 --> 0:31:02.739
<v Speaker 5>companies say like Nike or Adidas, they're struggling in that.

0:31:02.780 --> 0:31:04.040
<v Speaker 6>So what are you doing differently?

0:31:04.180 --> 0:31:07.680
<v Speaker 4>Yeah, so we launched in China in 2022, and we

0:31:07.780 --> 0:31:12.980
<v Speaker 4>really launched with a runner-focused strategy. We set up digitally

0:31:13.030 --> 0:31:16.410
<v Speaker 4>at first, now we're building stores, and our China business

0:31:16.490 --> 0:31:19.210
<v Speaker 4>is doing really well. We're up 40% in the market.

0:31:19.450 --> 0:31:22.350
<v Speaker 4>And I'll say it again, the universal truths of this

0:31:22.450 --> 0:31:25.970
<v Speaker 4>category is translate in every market. So the same products

0:31:25.990 --> 0:31:28.710
<v Speaker 4>that are winning in Germany and the U.S. are winning

0:31:28.770 --> 0:31:33.300
<v Speaker 4>in Shanghai and Beijing. So our strategy translates. It's how

0:31:33.340 --> 0:31:35.660
<v Speaker 4>we execute it in each unique market.

0:31:35.860 --> 0:31:37.760
<v Speaker 6>Well, stores. So brick and mortar.

0:31:38.290 --> 0:31:40.750
<v Speaker 5>Brooke's starting to open a few more brick and mortar stores,

0:31:40.830 --> 0:31:41.730
<v Speaker 5>physical stores.

0:31:41.870 --> 0:31:42.270
<v Speaker 8>We are.

0:31:43.390 --> 0:31:46.630
<v Speaker 4>In China, we'll have a small amount, 20 or so

0:31:46.730 --> 0:31:50.150
<v Speaker 4>stores in China. We're just now starting to open some

0:31:50.290 --> 0:31:52.810
<v Speaker 4>branded stores here in the US. And we think of

0:31:52.830 --> 0:31:56.230
<v Speaker 4>them as a community run hub where runners can come

0:31:56.270 --> 0:32:01.170
<v Speaker 4>and meet for social benefit, for mental benefit, for physical benefit.

0:32:01.530 --> 0:32:04.990
<v Speaker 4>But it's a manifestation of our brand in four walls,

0:32:05.030 --> 0:32:07.990
<v Speaker 4>which we haven't had. We've really worked through retail partners

0:32:08.550 --> 0:32:10.310
<v Speaker 4>We are still going to do that in the future.

0:32:10.950 --> 0:32:14.010
<v Speaker 4>But the store is meaningful in the journey of a

0:32:14.070 --> 0:32:15.110
<v Speaker 4>consumer right now.

0:32:15.670 --> 0:32:18.810
<v Speaker 5>And how about supply chain issues?

0:32:18.830 --> 0:32:21.900
<v Speaker 6>Because we've talked about tariffs and trade. How are things

0:32:21.940 --> 0:32:22.459
<v Speaker 6>looking right now?

0:32:22.800 --> 0:32:27.330
<v Speaker 4>Yeah, it's been a dynamic time, as everyone knows, and

0:32:27.440 --> 0:32:31.870
<v Speaker 4>trade policies and Persian Gulf disruption have been challenging for us.

0:32:32.030 --> 0:32:34.710
<v Speaker 4>But what I know about our supply chain, and I

0:32:34.750 --> 0:32:38.350
<v Speaker 4>think the industry's supply chain is it's pretty resilient. And

0:32:38.530 --> 0:32:40.750
<v Speaker 4>we went to work on it even before the first

0:32:40.810 --> 0:32:43.970
<v Speaker 4>round of tariffs came in. We really took a full

0:32:44.030 --> 0:32:46.230
<v Speaker 4>supply chain view of it. So one of the things

0:32:46.300 --> 0:32:48.780
<v Speaker 4>we didn't want to do is punish the consumer for

0:32:48.820 --> 0:32:52.610
<v Speaker 4>all these challenges we have. So we really worked with

0:32:52.670 --> 0:32:56.860
<v Speaker 4>our supply chain to lower costs where possible, get more efficient,

0:32:57.080 --> 0:32:58.760
<v Speaker 4>and we're in a really good spot. We got our

0:32:58.800 --> 0:33:00.800
<v Speaker 4>arms around it. It's dynamic, though.

0:33:01.050 --> 0:33:02.150
<v Speaker 6>It definitely is. I want to point out that as

0:33:02.190 --> 0:33:05.290
<v Speaker 6>Running USA, they did this global survey. More than 11,000 runners.

0:33:05.390 --> 0:33:07.110
<v Speaker 4>One of my favorite surveys, by the way.

0:33:07.130 --> 0:33:08.530
<v Speaker 6>Well, they ranked you number one.

0:33:08.550 --> 0:33:11.430
<v Speaker 5>There you go. For both training and race day footwear

0:33:11.930 --> 0:33:13.950
<v Speaker 5>for the third consecutive year. It's not the first time.

0:33:14.190 --> 0:33:15.030
<v Speaker 5>So what does that show you?

0:33:15.170 --> 0:33:20.320
<v Speaker 4>Yeah, 11,000 global survey participants in the survey. And Brooks

0:33:20.380 --> 0:33:24.010
<v Speaker 4>was chosen number one for training and for racing. And

0:33:24.050 --> 0:33:26.390
<v Speaker 4>what that tells us, it's a validation of what we

0:33:26.450 --> 0:33:30.530
<v Speaker 4>do every day. We innovate product for the athlete and

0:33:30.730 --> 0:33:33.980
<v Speaker 4>athletes have so many choices and Brooks is winning. These

0:33:34.060 --> 0:33:37.140
<v Speaker 4>are some of the most discerning athletes in our space.

0:33:37.730 --> 0:33:39.870
<v Speaker 4>And for three years in a row, they've chosen Brooks.

0:33:39.950 --> 0:33:41.470
<v Speaker 4>And you're going to see it out on the course

0:33:41.530 --> 0:33:42.050
<v Speaker 4>this morning.

0:33:42.530 --> 0:33:42.980
<v Speaker 5>I love it.

0:33:43.010 --> 0:33:43.420
<v Speaker 11>I love it.

0:33:43.450 --> 0:33:46.950
<v Speaker 5>Before you go, Brooks is a subsidiary of Berkshire Hathaway.

0:33:47.350 --> 0:33:50.800
<v Speaker 5>So new leader right now. How is everything going under

0:33:50.840 --> 0:33:52.420
<v Speaker 5>the new leadership for Brooks?

0:33:52.560 --> 0:33:53.580
<v Speaker 11>Yeah, we're so fortunate.

0:33:53.600 --> 0:33:56.140
<v Speaker 4>I tell our employees and our partners it's a competitive

0:33:56.180 --> 0:33:59.730
<v Speaker 4>advantage for us to be owned by Berkshire. And consistent

0:33:59.790 --> 0:34:03.780
<v Speaker 4>leadership from Warren to Greg. I report now into Adam Johnson,

0:34:03.820 --> 0:34:07.860
<v Speaker 4>who's the CEO of NetJets. And it's just consistent. They

0:34:07.900 --> 0:34:10.960
<v Speaker 4>give you autonomy. You know you have accountability to your

0:34:11.000 --> 0:34:15.009
<v Speaker 4>teams and the results. It's a perfect scenario for us

0:34:15.090 --> 0:34:18.990
<v Speaker 4>and one that we've benefited from greatly over the years.

0:34:19.330 --> 0:34:21.310
<v Speaker 5>All right, Dan Sheridan, we are out of time, but

0:34:21.330 --> 0:34:22.750
<v Speaker 5>I know you're going to be at that finish line

0:34:22.989 --> 0:34:23.690
<v Speaker 5>on Sunday.

0:34:23.710 --> 0:34:25.410
<v Speaker 6>There you go. Good luck to you.

0:34:25.570 --> 0:34:26.090
<v Speaker 11>Thanks, Lisa.

0:34:28.340 --> 0:34:31.980
<v Speaker 5>Stay with us for more on Bloomberg This Weekend, right

0:34:32.040 --> 0:34:32.460
<v Speaker 5>after this.

0:34:44.650 --> 0:34:46.810
<v Speaker 11>Welcome back to Bloomberg This Weekend, or BTW.

0:34:46.830 --> 0:34:48.750
<v Speaker 7>I'm David Gura, Lisa Patel.

0:34:48.770 --> 0:34:50.390
<v Speaker 6>You are smiling when you say that.

0:34:50.410 --> 0:34:50.860
<v Speaker 3>Two days in a row.

0:34:50.910 --> 0:34:51.760
<v Speaker 4>You are.

0:34:51.800 --> 0:34:53.860
<v Speaker 6>Christina's not here. He takes advantage.

0:34:54.080 --> 0:34:56.739
<v Speaker 5>BTW, Nathan Hager, you are taking over for me now.

0:34:56.780 --> 0:34:57.720
<v Speaker 6>You're in the chair.

0:34:58.060 --> 0:34:58.740
<v Speaker 11>With my story?

0:34:58.800 --> 0:34:59.200
<v Speaker 5>With your stories.

0:34:59.219 --> 0:35:01.600
<v Speaker 7>Did you have to mentor him on this? Show him

0:35:01.640 --> 0:35:01.920
<v Speaker 7>the ropes?

0:35:01.940 --> 0:35:02.920
<v Speaker 6>It took about two minutes.

0:35:03.739 --> 0:35:05.960
<v Speaker 7>I had big backing. Thank you.

0:35:06.020 --> 0:35:06.700
<v Speaker 5>You got it.

0:35:06.739 --> 0:35:09.580
<v Speaker 12>Well, of course, there's the ongoing debate about artificial intelligence,

0:35:09.640 --> 0:35:11.860
<v Speaker 12>not just data centers in your backyard, but whether you

0:35:11.890 --> 0:35:13.070
<v Speaker 12>should be allowed to use it.

0:35:13.570 --> 0:35:14.350
<v Speaker 11>In your writing.

0:35:14.370 --> 0:35:16.390
<v Speaker 12>You know, we have AI summaries on the Bloomberg Terminal,

0:35:16.469 --> 0:35:16.910
<v Speaker 12>of course.

0:35:17.130 --> 0:35:20.250
<v Speaker 7>Ask Bee, check it out. Ask Bee, check it out.

0:35:20.530 --> 0:35:22.620
<v Speaker 12>But when it comes to the White House, if this

0:35:22.780 --> 0:35:26.120
<v Speaker 12>Forbes story is to be believed, having AI write for you,

0:35:26.860 --> 0:35:30.460
<v Speaker 12>no problem. Forbes ran one of the president's recent health

0:35:30.620 --> 0:35:35.770
<v Speaker 12>updates through Pangram, an AI text generator that claims, or detector,

0:35:35.790 --> 0:35:37.710
<v Speaker 12>I should say, claims 99.5% accuracy when it comes to

0:35:39.760 --> 0:35:43.950
<v Speaker 12>determining whether text is written by artificial intelligence. The assessment

0:35:44.050 --> 0:35:48.469
<v Speaker 12>on this latest health update, 100% AI generated. This was

0:35:48.510 --> 0:35:51.549
<v Speaker 12>from the update from July of last year when the

0:35:51.590 --> 0:35:55.690
<v Speaker 12>president had the odd bruises on his hand, the apparent

0:35:55.750 --> 0:35:59.360
<v Speaker 12>swollen legs. So Forbes compared it to some other recent

0:35:59.700 --> 0:36:02.750
<v Speaker 12>letters from the same White House physician. They came out 35%

0:36:02.750 --> 0:36:07.670
<v Speaker 12>and 45% AI written. Now, even Pangram will say an

0:36:07.790 --> 0:36:11.009
<v Speaker 12>AI detector is not foolproof, but to go the extra mile,

0:36:11.030 --> 0:36:14.730
<v Speaker 12>Forbes actually ran every White House press release since President

0:36:14.750 --> 0:36:17.799
<v Speaker 12>Trump's second term through Pangram, compared it to releases going

0:36:17.820 --> 0:36:21.400
<v Speaker 12>back to 2020 before the advent of chat GPT. The

0:36:21.440 --> 0:36:25.379
<v Speaker 12>final verdict, about 10% of releases from this White House

0:36:26.000 --> 0:36:28.060
<v Speaker 12>have at least some AI text.

0:36:28.140 --> 0:36:29.960
<v Speaker 7>Applicative AI text, interesting.

0:36:29.980 --> 0:36:33.080
<v Speaker 5>I'm amazed how these technologies can figure out if you're

0:36:33.140 --> 0:36:34.080
<v Speaker 5>using AI or not.

0:36:34.140 --> 0:36:35.229
<v Speaker 6>I mean, schools have.

0:36:35.120 --> 0:36:36.950
<v Speaker 7>To do this a lot with the students. Professors have

0:36:36.989 --> 0:36:37.850
<v Speaker 7>to do it?

0:36:37.890 --> 0:36:38.049
<v Speaker 8>Yeah.

0:36:38.090 --> 0:36:40.770
<v Speaker 12>Are the technologies themselves artificial intelligence?

0:36:40.810 --> 0:36:43.970
<v Speaker 7>Interesting. This is another loop. Another loop, oh my gosh.

0:36:44.860 --> 0:36:46.299
<v Speaker 11>Very existential.

0:36:46.340 --> 0:36:47.040
<v Speaker 7>What else do you have, Nathan?

0:36:47.060 --> 0:36:49.490
<v Speaker 12>If you really want to go old school in your writing,

0:36:49.730 --> 0:36:51.990
<v Speaker 12>you might like this story from the Wall Street Journal.

0:36:52.030 --> 0:36:58.649
<v Speaker 12>Students at Harvard University are signing up in droves for

0:36:58.670 --> 0:37:02.860
<v Speaker 12>a particularly grueling freshman English class called Humanities 10. Hum 10,

0:37:02.860 --> 0:37:06.100
<v Speaker 12>they call it on campus. Students read at least one

0:37:06.320 --> 0:37:10.239
<v Speaker 12>dense book per week, from Homer's Odyssey to Joyce's Ulysses.

0:37:10.600 --> 0:37:12.790
<v Speaker 11>I think those two are In a week?

0:37:12.930 --> 0:37:13.270
<v Speaker 5>Yeah.

0:37:13.290 --> 0:37:14.710
<v Speaker 11>One text a week.

0:37:14.750 --> 0:37:16.530
<v Speaker 6>You know who's a big humanities fan?

0:37:17.230 --> 0:37:17.750
<v Speaker 5>Tom Keene.

0:37:17.770 --> 0:37:18.169
<v Speaker 7>Tom Keene.

0:37:18.250 --> 0:37:21.259
<v Speaker 5>He always says, bring back humanities to the schools.

0:37:21.300 --> 0:37:24.680
<v Speaker 12>Plenty of book recommendations on all of Tom's shows. Now,

0:37:24.700 --> 0:37:28.660
<v Speaker 12>there's no pass-fail option on this class. So don't expect

0:37:28.760 --> 0:37:32.799
<v Speaker 12>it to pad your GPA. No digital devices allowed. So

0:37:32.820 --> 0:37:34.739
<v Speaker 12>if you arrive late, you get a pink slip. They

0:37:34.780 --> 0:37:37.879
<v Speaker 12>take attendance every time. But despite all that, or maybe

0:37:37.920 --> 0:37:41.080
<v Speaker 12>even because of all that, Demand for this class is

0:37:41.140 --> 0:37:45.920
<v Speaker 12>through the roof. This year, applications shot up 40% with

0:37:45.920 --> 0:37:49.460
<v Speaker 12>180 incoming freshmen competing for just 90 slots. One of

0:37:49.480 --> 0:37:52.640
<v Speaker 12>the hum alums, as they call them, says some of

0:37:52.680 --> 0:37:55.640
<v Speaker 12>what's driving this actually is backlash to AI. They say

0:37:55.660 --> 0:37:57.480
<v Speaker 12>a lot of the students, what they get out of

0:37:57.500 --> 0:38:00.069
<v Speaker 12>the class is the human experience. And in fact, you

0:38:00.140 --> 0:38:03.150
<v Speaker 12>can't get anything out of the class if there's any

0:38:03.290 --> 0:38:04.050
<v Speaker 12>digital involved.

0:38:04.190 --> 0:38:05.950
<v Speaker 3>I've heard of this, this kind of new affection for

0:38:05.989 --> 0:38:08.390
<v Speaker 3>the great books curriculum. Columbia has it. Yale has it

0:38:08.450 --> 0:38:08.850
<v Speaker 3>as well.

0:38:08.870 --> 0:38:09.069
<v Speaker 8>Right.

0:38:09.840 --> 0:38:10.880
<v Speaker 7>Yeah, it makes sense to me that it would be

0:38:10.900 --> 0:38:11.840
<v Speaker 7>more competitive and people.

0:38:11.700 --> 0:38:12.470
<v Speaker 11>Would want to get into it.

0:38:12.480 --> 0:38:14.780
<v Speaker 12>The professors who put this class together actually said they

0:38:14.860 --> 0:38:17.660
<v Speaker 12>drew inspiration from the great courses at Columbia and Yale

0:38:17.800 --> 0:38:21.100
<v Speaker 12>as well. Now, how's this for old school reading, you guys?

0:38:21.219 --> 0:38:24.180
<v Speaker 12>Life Magazine is making a comeback.

0:38:24.219 --> 0:38:24.950
<v Speaker 7>Life Magazine.

0:38:24.969 --> 0:38:27.570
<v Speaker 12>Yeah, not sure about the Time Life book collection, but nonetheless,

0:38:27.610 --> 0:38:30.270
<v Speaker 12>the New York Times picked up on this this week.

0:38:30.290 --> 0:38:33.030
<v Speaker 12>The iconic publication with the Redbox logo and the breadth

0:38:33.070 --> 0:38:36.490
<v Speaker 12>of visual storytelling. It's returning next month as a quarterly

0:38:36.570 --> 0:38:40.630
<v Speaker 12>print edition. Supermodel and entrepreneur Karlie Kloss is actually reviving

0:38:40.690 --> 0:38:44.050
<v Speaker 12>life through her company, Bedford Media, along with the Glossy Mag.

0:38:44.469 --> 0:38:47.180
<v Speaker 12>There's going to be a website, social media presence, along

0:38:47.200 --> 0:38:51.800
<v Speaker 12>with plans for short-form video, documentaries, live events. The first,

0:38:52.080 --> 0:38:55.560
<v Speaker 12>this new Life magazine. with the theme Where Are We Now?

0:38:55.700 --> 0:38:59.420
<v Speaker 12>is expected to come out November 23rd. Large format, 250 pages,

0:39:00.020 --> 0:39:04.780
<v Speaker 12>no ads. It's actually sponsored by Rivian and Figma, the fintech.

0:39:04.840 --> 0:39:05.860
<v Speaker 7>You're getting to the cost.

0:39:06.000 --> 0:39:06.480
<v Speaker 11>Goodness.

0:39:06.480 --> 0:39:07.259
<v Speaker 4>$ 45 cover price.

0:39:07.300 --> 0:39:10.730
<v Speaker 12>That's what you get when you don't have ads.

0:39:11.890 --> 0:39:14.390
<v Speaker 3>I spotted that, and that price tag stood out to me.

0:39:14.430 --> 0:39:15.750
<v Speaker 3>Of course, I mean, I've seen a lot. When you

0:39:15.770 --> 0:39:16.790
<v Speaker 3>go to an antique store, there are a lot of

0:39:16.850 --> 0:39:18.649
<v Speaker 3>Life magazines that are fun to page. But it takes

0:39:18.690 --> 0:39:20.450
<v Speaker 3>a lot of chutzpah this day and age, I think,

0:39:20.469 --> 0:39:21.950
<v Speaker 3>to start a print magazine.

0:39:22.030 --> 0:39:22.210
<v Speaker 5>Yeah.

0:39:22.680 --> 0:39:23.900
<v Speaker 7>I'm curious if it catches on.

0:39:23.920 --> 0:39:25.589
<v Speaker 12>We do have a monthly Bloomberg Business Week.

0:39:25.760 --> 0:39:26.200
<v Speaker 11>They do?

0:39:26.239 --> 0:39:28.920
<v Speaker 5>That's a good coffee table. You can put that on

0:39:28.940 --> 0:39:31.880
<v Speaker 5>your coffee table and it'll look nice and start a conversation.

0:39:31.920 --> 0:39:34.180
<v Speaker 7>Yeah, and it's always been known for its photographs as well.

0:39:34.239 --> 0:39:36.259
<v Speaker 3>There's still no better way to showcase them than in

0:39:36.340 --> 0:39:37.400
<v Speaker 3>a glossy print magazine.

0:39:37.420 --> 0:39:37.819
<v Speaker 7>Very cool.

0:39:38.020 --> 0:39:38.180
<v Speaker 5>Right.

0:39:38.380 --> 0:39:40.739
<v Speaker 12>I got this one finally from the Bloomberg terminal. Now

0:39:40.760 --> 0:39:42.500
<v Speaker 12>that we've set our clockbacks, in case you.

0:39:42.570 --> 0:39:44.120
<v Speaker 7>Didn't... Remind us again.

0:39:44.260 --> 0:39:44.670
<v Speaker 11>It is 8.58.

0:39:44.640 --> 0:39:47.670
<v Speaker 12>We fall back to standard time today, everyone. So it's

0:39:47.690 --> 0:39:50.210
<v Speaker 12>getting into the debate that actually dates back to 1784

0:39:50.210 --> 0:39:53.050
<v Speaker 12>when Benjamin Franklin... really did argue that setting the clocks

0:39:53.130 --> 0:39:55.150
<v Speaker 12>ahead an hour in the spring when there's more sunshine

0:39:55.550 --> 0:39:57.910
<v Speaker 12>and back again in the fall would save more energy.

0:39:57.950 --> 0:40:01.110
<v Speaker 12>But according to research still in progress from Yale economics

0:40:01.150 --> 0:40:04.130
<v Speaker 12>professor Matthew Kotchen, the energy benefit for moving the clocks

0:40:04.170 --> 0:40:08.390
<v Speaker 12>around for electricity and transportation may be 1 to 2

0:40:08.390 --> 0:40:14.420
<v Speaker 12>percent effect for total electricity consumption. If at all, this

0:40:14.480 --> 0:40:18.180
<v Speaker 12>actually came from their research into what Indiana did. They've

0:40:18.200 --> 0:40:20.160
<v Speaker 12>actually only been changing the clocks back for 20 years.

0:40:21.110 --> 0:40:25.049
<v Speaker 12>They found that falling back actually raises household energy by

0:40:25.230 --> 0:40:30.020
<v Speaker 12>up to 4%. The reason for this, energy use has changed.

0:40:30.200 --> 0:40:35.180
<v Speaker 12>Lighting only accounts for like, what, 3.4% of Americans' electricity mix.

0:40:35.820 --> 0:40:38.540
<v Speaker 12>It's offset by heating and cooling.

0:40:38.620 --> 0:40:39.359
<v Speaker 10>Yeah.

0:40:39.480 --> 0:40:41.710
<v Speaker 7>You know what else? It raises my energy. I'm a

0:40:41.730 --> 0:40:43.609
<v Speaker 7>big proponent of it. It is great.

0:40:43.650 --> 0:40:45.630
<v Speaker 6>Yes, it was nice to sit in this morning.

0:40:45.650 --> 0:40:46.530
<v Speaker 1>Just an extra hour.

0:40:47.030 --> 0:40:48.589
<v Speaker 7>This is like a roiling debate. I mean, we were

0:40:48.610 --> 0:40:50.990
<v Speaker 7>having a... are in Washington, and you've heard this debate

0:40:51.010 --> 0:40:52.430
<v Speaker 7>probably every two years.

0:40:52.550 --> 0:40:53.469
<v Speaker 11>Should we have it or not?

0:40:53.510 --> 0:40:55.090
<v Speaker 12>Every single year when they debate whether there's going to

0:40:55.110 --> 0:40:58.030
<v Speaker 12>be a law to whether it's going to be daylight

0:40:58.050 --> 0:41:01.890
<v Speaker 12>saving time or standard time. I vote for standard, please.

0:41:01.930 --> 0:41:03.800
<v Speaker 12>Make the sun go down a little earlier so I

0:41:03.820 --> 0:41:05.420
<v Speaker 12>don't have to worry about the light blocking shades.

0:41:05.440 --> 0:41:07.440
<v Speaker 3>Look for your speech in the well of Congress on that.

0:41:07.480 --> 0:41:10.140
<v Speaker 6>You get up early, Nathan. You do get up early.

0:41:10.340 --> 0:41:11.460
<v Speaker 11>I vote for that.

0:41:11.520 --> 0:41:12.600
<v Speaker 12>I'm probably in the.

0:41:12.600 --> 0:41:13.440
<v Speaker 11>Minority on that.

0:41:13.460 --> 0:41:14.799
<v Speaker 7>BTW, Nathan Hager, thank you very much.

0:41:17.860 --> 0:41:20.759
<v Speaker 2>Thanks for joining us on today's Bloomberg This Weekend podcast.

0:41:20.940 --> 0:41:23.169
<v Speaker 2>Don't forget to tune in live for the show every

0:41:23.230 --> 0:41:25.430
<v Speaker 2>Saturday and Sunday morning, starting at 7 a.m.

0:41:25.510 --> 0:41:25.850
<v Speaker 9>Eastern.

0:41:25.969 --> 0:41:28.890
<v Speaker 3>We're on Bloomberg Television, radio, and the Bloomberg Business app,

0:41:29.070 --> 0:41:33.170
<v Speaker 3>bringing you unique takes and in-depth interviews on news, politics, lifestyle,

0:41:33.330 --> 0:41:33.750
<v Speaker 3>and culture.