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 --> 00:00:14,560 Speaker 1: Bloomberg Balance of Power podcast. Catch Just Live weekdays at 3 00:00:14,560 --> 00:00:16,959 Speaker 1: noon Eastern on Apple car Play and then Roud Otto 4 00:00:17,040 --> 00:00:20,080 Speaker 1: with the Bloomberg Business App. Listen on demand wherever you 5 00:00:20,120 --> 00:00:23,560 Speaker 1: get your podcasts, or watch us live on YouTube. 6 00:00:25,720 --> 00:00:29,160 Speaker 2: We're still absorbing all of the news we got on Wednesday, 7 00:00:29,200 --> 00:00:30,800 Speaker 2: because boy was there a lot of it, not just 8 00:00:30,840 --> 00:00:34,279 Speaker 2: Donald Trump's trip to Washington, but leadership elections in the 9 00:00:34,320 --> 00:00:37,479 Speaker 2: Senate and in the House where they have renominated Mike 10 00:00:37,520 --> 00:00:41,040 Speaker 2: Johnson to turn take another turn at the role of speaker. 11 00:00:41,080 --> 00:00:43,760 Speaker 2: Now that we know, which also was made official yesterday, 12 00:00:44,040 --> 00:00:48,279 Speaker 2: the House will be maintaining maintained with Republican control. They 13 00:00:48,320 --> 00:00:52,200 Speaker 2: have retaken the majority or kept it going rather, according 14 00:00:52,200 --> 00:00:55,720 Speaker 2: to multiple networks and the Associated Press, so the assumed 15 00:00:55,720 --> 00:00:58,880 Speaker 2: to be speaker in the next Congress. Mike Johnson was 16 00:00:58,880 --> 00:01:00,000 Speaker 2: feeling pretty good yesterday. 17 00:01:00,800 --> 00:01:02,680 Speaker 3: The theme that you'll hear over and over from all 18 00:01:02,680 --> 00:01:05,200 Speaker 3: of our members across the conference is that we are 19 00:01:05,280 --> 00:01:08,240 Speaker 3: unified and energized and ready to go. Serious times call 20 00:01:08,319 --> 00:01:11,240 Speaker 3: for serious leadership. It's going to be a policy agenda 21 00:01:11,319 --> 00:01:14,440 Speaker 3: driven administration and a Congress and you've heard us say 22 00:01:14,480 --> 00:01:16,640 Speaker 3: many times it could be. I believe it will be 23 00:01:17,040 --> 00:01:20,120 Speaker 3: the most consequential Congress of the modern era, most consequential 24 00:01:20,160 --> 00:01:22,520 Speaker 3: administration of the modern era, because frankly, we have to 25 00:01:22,520 --> 00:01:25,160 Speaker 3: fix almost every area of public policy. 26 00:01:26,440 --> 00:01:28,880 Speaker 4: But of course we need to finish this session of Congress, 27 00:01:28,920 --> 00:01:31,559 Speaker 4: and we do have questions about the lame duck session 28 00:01:31,640 --> 00:01:33,520 Speaker 4: and what it might bring. That's where we start our 29 00:01:33,560 --> 00:01:37,880 Speaker 4: conversation with the gentleman from Kentucky, Congressman Andy Barr, Kentucky's 30 00:01:37,880 --> 00:01:41,440 Speaker 4: sixth member of the Republican Conference. Great to have you, 31 00:01:41,480 --> 00:01:44,120 Speaker 4: Baxter on Bloomberg TV and Radio. Thank you for joining us. 32 00:01:44,160 --> 00:01:46,680 Speaker 4: I want to begin with the funding deadline, that is 33 00:01:46,680 --> 00:01:50,120 Speaker 4: on December twentieth. You and your colleagues need to figure 34 00:01:50,160 --> 00:01:51,960 Speaker 4: out how to keep the lights on going into the 35 00:01:51,960 --> 00:01:54,080 Speaker 4: new year, and there's an argument about whether that should 36 00:01:54,160 --> 00:01:58,120 Speaker 4: last into March, or in fact go further into September 37 00:01:58,160 --> 00:02:01,200 Speaker 4: to buy Donald Trump time to enact agenda, not saddle 38 00:02:01,280 --> 00:02:03,800 Speaker 4: the new president with a funding debate as soon as 39 00:02:03,840 --> 00:02:06,720 Speaker 4: he gets into office. Your colleague from New York, Mark Malnaro, 40 00:02:07,120 --> 00:02:10,280 Speaker 4: professed his preference for going later into the year with 41 00:02:10,320 --> 00:02:13,840 Speaker 4: the stopgap, but Congressman, I know that that is problematic 42 00:02:13,840 --> 00:02:15,680 Speaker 4: for members of the Freedom Caucus and for a lot 43 00:02:15,720 --> 00:02:17,400 Speaker 4: of defense hawks. Where are you on this? 44 00:02:18,560 --> 00:02:20,440 Speaker 5: I think we need to clear the decks. We need 45 00:02:20,480 --> 00:02:26,400 Speaker 5: to get the spending bill done. The House has passed 46 00:02:26,440 --> 00:02:29,680 Speaker 5: seventy percent of all of the spending for this fiscal year, 47 00:02:29,720 --> 00:02:31,000 Speaker 5: so we have about. 48 00:02:30,800 --> 00:02:31,919 Speaker 6: Thirty percent to go. 49 00:02:32,240 --> 00:02:35,400 Speaker 5: The Senate hasn't passed a single appropriations bill. But I 50 00:02:35,440 --> 00:02:39,160 Speaker 5: think in the interest of the next administration, we should 51 00:02:39,200 --> 00:02:40,000 Speaker 5: clear the decks. 52 00:02:40,560 --> 00:02:41,600 Speaker 6: We have a lot to do. 53 00:02:41,639 --> 00:02:44,680 Speaker 5: As the Speaker pointed out in your earlier segment, we 54 00:02:44,760 --> 00:02:47,840 Speaker 5: have a lot to accomplish in the first one hundred 55 00:02:47,880 --> 00:02:51,480 Speaker 5: days of the next administration. And if we're fighting old 56 00:02:51,520 --> 00:02:56,400 Speaker 5: battles and the spending bill for this year instead of 57 00:02:56,440 --> 00:02:59,000 Speaker 5: looking forward to next year, I think that would really 58 00:02:59,040 --> 00:03:01,920 Speaker 5: waste a lot of time. So, yes, we need a 59 00:03:01,960 --> 00:03:05,639 Speaker 5: fiscally responsible appropriations bill, but we need to get it 60 00:03:05,720 --> 00:03:10,800 Speaker 5: done by the deadline of December twentieth and give the 61 00:03:10,840 --> 00:03:16,520 Speaker 5: next Congress a unified Republican government all of the flexibility that. 62 00:03:16,440 --> 00:03:18,400 Speaker 6: Will be required to pursue a. 63 00:03:18,520 --> 00:03:21,239 Speaker 5: Very ambitious and bold agenda in the first one hundred 64 00:03:21,760 --> 00:03:23,280 Speaker 5: to two hundred days next year. 65 00:03:24,120 --> 00:03:26,320 Speaker 2: So Congressman, I think what you're saying is that there 66 00:03:26,400 --> 00:03:29,920 Speaker 2: shouldn't be another continuing resolution. And if so, aren't we 67 00:03:29,960 --> 00:03:31,760 Speaker 2: just going to end up with either an omnibus or 68 00:03:31,800 --> 00:03:33,839 Speaker 2: a couple minibuses before the new year. 69 00:03:34,480 --> 00:03:34,679 Speaker 6: Yeah? 70 00:03:34,680 --> 00:03:36,680 Speaker 5: I don't think we should kick the can down the road. 71 00:03:36,760 --> 00:03:37,760 Speaker 6: Let's finish the business. 72 00:03:37,800 --> 00:03:40,440 Speaker 5: As I said before, the House has passed seventy percent 73 00:03:40,480 --> 00:03:44,000 Speaker 5: of the appropriations bills. Let's finish our work and get 74 00:03:44,000 --> 00:03:46,720 Speaker 5: the Senate to do its work. Whether that's in a 75 00:03:46,760 --> 00:03:51,040 Speaker 5: one bill, two bills, three bills, three minibuses. 76 00:03:50,600 --> 00:03:51,440 Speaker 6: Or what have you. 77 00:03:51,920 --> 00:03:54,280 Speaker 5: We just need to get the job done so that 78 00:03:54,360 --> 00:03:57,640 Speaker 5: we start with a clean slate in twenty twenty five. 79 00:03:58,040 --> 00:04:02,200 Speaker 5: There's so much to do in reconciliation, with extending the 80 00:04:02,280 --> 00:04:07,160 Speaker 5: tax cuts, securing the border, passing legislation to unleash our 81 00:04:07,280 --> 00:04:11,120 Speaker 5: energy potential, and in the Financial Services Committee, we should 82 00:04:11,160 --> 00:04:14,160 Speaker 5: have a big, bold agenda to restore the American dream 83 00:04:14,520 --> 00:04:18,360 Speaker 5: by unleashing our capital markets to really provide jet fuel 84 00:04:18,839 --> 00:04:22,920 Speaker 5: for our economy. That's what the American people deserve. Fighting 85 00:04:22,920 --> 00:04:25,640 Speaker 5: the old battles of spending for this year I think 86 00:04:25,680 --> 00:04:26,680 Speaker 5: would delay all. 87 00:04:26,560 --> 00:04:27,119 Speaker 6: Of that work. 88 00:04:28,240 --> 00:04:32,880 Speaker 4: Says a lot Congressmen, when the regular order option seems 89 00:04:32,920 --> 00:04:36,000 Speaker 4: to be the most alternative at the moment, But I 90 00:04:36,040 --> 00:04:39,360 Speaker 4: appreciate your view on that. We're watching shares today of 91 00:04:39,480 --> 00:04:44,400 Speaker 4: Tesla and Rivian and other companies exposed to electronic vehicles 92 00:04:44,600 --> 00:04:48,520 Speaker 4: fall sharply. Tesla's done about four percent right now. Rivian 93 00:04:48,720 --> 00:04:52,520 Speaker 4: is down over ten percent. With a Reuter's headline that 94 00:04:52,640 --> 00:04:55,560 Speaker 4: Donald Trump wants to undo or get rid of the 95 00:04:55,600 --> 00:04:58,800 Speaker 4: seventy five hundred dollars EV tax credit, this is something 96 00:04:58,839 --> 00:05:02,000 Speaker 4: that we knew could becoming in an effort to unwind 97 00:05:02,040 --> 00:05:04,559 Speaker 4: parts of the IRA. Congressman, does he have the votes 98 00:05:04,560 --> 00:05:07,880 Speaker 4: in Congress to do that, well, he has. 99 00:05:07,760 --> 00:05:11,400 Speaker 5: My support because I don't think government intervention into markets 100 00:05:11,680 --> 00:05:16,479 Speaker 5: is a really effective way to efficiently allocate capital in 101 00:05:16,520 --> 00:05:18,840 Speaker 5: our economy. The fact of the matter is, if you 102 00:05:18,920 --> 00:05:21,920 Speaker 5: talk to auto dealers across this country, certainly in Kentucky, 103 00:05:22,360 --> 00:05:25,920 Speaker 5: the demand for ebs is simply not there. And clearly, 104 00:05:26,000 --> 00:05:29,559 Speaker 5: through the Inflation Reduction Act, Congress was trying to put 105 00:05:29,600 --> 00:05:34,320 Speaker 5: its finger on the scale and have the government incentivize 106 00:05:35,000 --> 00:05:40,200 Speaker 5: the allocation of capital, incentivize the transition to electric vehicles 107 00:05:40,240 --> 00:05:43,560 Speaker 5: when frankly, market demand is not there. The most efficient 108 00:05:43,600 --> 00:05:47,960 Speaker 5: way to allocate capital is, of course, through the free market, 109 00:05:48,160 --> 00:05:53,520 Speaker 5: and this kind of industrial policy is not a good 110 00:05:53,520 --> 00:05:57,080 Speaker 5: way to promote American competitiveness. Frankly, we are in a 111 00:05:57,080 --> 00:06:00,640 Speaker 5: global competition with China and other countries. We shouldn't try 112 00:06:00,640 --> 00:06:04,400 Speaker 5: to counter China by becoming more like China, by copying 113 00:06:04,480 --> 00:06:06,240 Speaker 5: or imitating their industrial policies. 114 00:06:06,560 --> 00:06:08,880 Speaker 6: We need to be the best version of ourselves. 115 00:06:08,520 --> 00:06:12,080 Speaker 5: Which means that we need to unleash our capital markets 116 00:06:12,080 --> 00:06:16,920 Speaker 5: and we need to be we need to embrace the market. 117 00:06:17,000 --> 00:06:22,839 Speaker 5: And the market simply does not support a precipitous transition 118 00:06:22,920 --> 00:06:23,960 Speaker 5: to electric vehicles. 119 00:06:24,240 --> 00:06:25,599 Speaker 6: The American people just don't want it. 120 00:06:27,080 --> 00:06:29,400 Speaker 2: I want to talk about a different transition, Congressman, the 121 00:06:29,440 --> 00:06:32,479 Speaker 2: transition of power between presidents we're experiencing now as Donald 122 00:06:32,480 --> 00:06:36,279 Speaker 2: Trump has been outlining the selections for his cabinet. I 123 00:06:36,320 --> 00:06:38,839 Speaker 2: know Capitol Hill was taken a bit by surprise yesterday 124 00:06:38,880 --> 00:06:41,240 Speaker 2: when we learned that one of those was then Congressman 125 00:06:41,680 --> 00:06:44,680 Speaker 2: Matt Gates from Florida. I wonder your reaction, sir, to 126 00:06:44,800 --> 00:06:47,280 Speaker 2: not just the selection of Gates's attorney general, and whether 127 00:06:47,320 --> 00:06:51,119 Speaker 2: you think he has the character for that job based 128 00:06:51,160 --> 00:06:53,479 Speaker 2: on your experience working with him in the House. His 129 00:06:53,560 --> 00:06:56,280 Speaker 2: sudden resignation and the fact that this is now three 130 00:06:56,320 --> 00:06:59,000 Speaker 2: House members that have been pulled for the administration, making 131 00:06:59,000 --> 00:07:01,560 Speaker 2: a thin majority of bit more difficult to navigate. 132 00:07:03,720 --> 00:07:05,760 Speaker 5: Well, let me just say I think Elise Stephonic is 133 00:07:05,760 --> 00:07:08,280 Speaker 5: a fantastic choice for you, and Ambassador, She's going to 134 00:07:08,320 --> 00:07:09,080 Speaker 5: do a great job. 135 00:07:09,320 --> 00:07:10,080 Speaker 6: The Senate will. 136 00:07:09,960 --> 00:07:13,440 Speaker 5: Work its will with all of these, including mister Gates, 137 00:07:13,480 --> 00:07:15,880 Speaker 5: and the Senate will of course have a say and 138 00:07:15,920 --> 00:07:19,760 Speaker 5: whether or not these nominees will ultimately get their pick. 139 00:07:19,840 --> 00:07:23,320 Speaker 5: But in terms of mister Gates's vacancy, what I'm most 140 00:07:23,920 --> 00:07:26,960 Speaker 5: excited about is the fact that Governor DeSantis has said we. 141 00:07:26,920 --> 00:07:29,800 Speaker 6: Will fill that seat before. 142 00:07:29,720 --> 00:07:32,760 Speaker 5: January third, so we will have a new member of Congress, 143 00:07:32,800 --> 00:07:35,360 Speaker 5: and we will be able to secure that very important 144 00:07:35,440 --> 00:07:38,080 Speaker 5: thin majority that we have, so that we have unified 145 00:07:38,120 --> 00:07:40,160 Speaker 5: control of the House, the Senate, and the White House. 146 00:07:41,160 --> 00:07:44,040 Speaker 6: Should the House have we'll just set to meet tomorrow. 147 00:07:44,160 --> 00:07:48,240 Speaker 4: By the way, understood, should the Ethics Committee Congressman release 148 00:07:48,360 --> 00:07:52,320 Speaker 4: the report that it has been working up about Matt Gates, 149 00:07:52,360 --> 00:07:55,760 Speaker 4: either to vindicate him or otherwise inform the confirmation process, 150 00:07:55,800 --> 00:07:59,080 Speaker 4: They're set to meet tomorrow on this, Yeah, I think. 151 00:07:58,920 --> 00:08:00,280 Speaker 6: The Senate will demand that. 152 00:08:00,400 --> 00:08:03,240 Speaker 5: I think the Senate will need that information in order 153 00:08:03,280 --> 00:08:07,200 Speaker 5: to work its will in the advice and consent process, 154 00:08:08,000 --> 00:08:09,560 Speaker 5: and so I think it is important that. 155 00:08:09,480 --> 00:08:10,640 Speaker 6: The Ethics Committee. 156 00:08:10,880 --> 00:08:12,520 Speaker 5: I do not serve on the Ethics Committee, but I 157 00:08:12,520 --> 00:08:15,000 Speaker 5: do think it's important for the Ethics Committee. 158 00:08:14,520 --> 00:08:16,800 Speaker 6: To wrap up that work so that. 159 00:08:16,640 --> 00:08:19,760 Speaker 5: The Senate can have all of the information in considering 160 00:08:19,760 --> 00:08:20,360 Speaker 5: that nomination. 161 00:08:21,680 --> 00:08:23,720 Speaker 2: Well, sir, you may not serve on the Ethics Committee, 162 00:08:23,720 --> 00:08:26,200 Speaker 2: but you do sit on the Financial Services Committee. You had, 163 00:08:26,240 --> 00:08:29,440 Speaker 2: in fact like to be its next chair. In that role, 164 00:08:29,480 --> 00:08:33,000 Speaker 2: what would be Agenda Item number one in the new Congress? 165 00:08:33,080 --> 00:08:34,920 Speaker 2: Is it banking? Is it crypto? 166 00:08:35,280 --> 00:08:38,120 Speaker 6: Is it both? It's all of it. 167 00:08:38,840 --> 00:08:42,320 Speaker 5: We need an American Dream Act. We need to restore 168 00:08:42,320 --> 00:08:44,760 Speaker 5: the American Dream. The exit polls were very clear. Why 169 00:08:45,040 --> 00:08:48,640 Speaker 5: did the American people vote for Donald Trump overwhelmingly and 170 00:08:48,679 --> 00:08:51,520 Speaker 5: even the popular vote. Why did the American people give 171 00:08:51,600 --> 00:08:56,000 Speaker 5: Republicans control of Congress and total control of the government. 172 00:08:56,160 --> 00:08:58,840 Speaker 5: Is because they're dissatisfied with the direction of the country. 173 00:08:59,160 --> 00:09:01,559 Speaker 5: Over two thirds of Americans believe that we're on the 174 00:09:01,600 --> 00:09:06,000 Speaker 5: wrong track. So they want change and they want the 175 00:09:06,360 --> 00:09:10,720 Speaker 5: American dream restored the idea that with hard work and 176 00:09:10,760 --> 00:09:12,400 Speaker 5: by playing by the rules, they can get ahead. 177 00:09:12,480 --> 00:09:15,040 Speaker 6: Right now, they don't feel like they're they're they're. 178 00:09:14,840 --> 00:09:19,960 Speaker 5: Getting ahead, and they want major economic growth to give 179 00:09:20,000 --> 00:09:22,880 Speaker 5: them that upward mobility that they deserve. In order to 180 00:09:22,880 --> 00:09:24,920 Speaker 5: do that, of course, we need to extend the Tax 181 00:09:24,960 --> 00:09:27,120 Speaker 5: Cuts and Jobs Act, those four and a half trillion 182 00:09:27,160 --> 00:09:30,200 Speaker 5: dollars of expiring tax cuts through the reconciliation process. 183 00:09:30,679 --> 00:09:31,719 Speaker 6: But we need more than that. 184 00:09:32,120 --> 00:09:35,280 Speaker 5: We need to unleash our capital markets, and that means 185 00:09:35,880 --> 00:09:38,440 Speaker 5: deregulation of our capital markets. 186 00:09:38,440 --> 00:09:40,920 Speaker 6: It means deregulation of the banking sector. 187 00:09:40,960 --> 00:09:44,960 Speaker 5: It means a regulatory framework for innovation in fintech and 188 00:09:45,000 --> 00:09:50,480 Speaker 5: digital assets, providing clarity, certainty, and durability in the law 189 00:09:50,520 --> 00:09:54,000 Speaker 5: to make sure that all of that innovation happens here 190 00:09:54,040 --> 00:09:58,480 Speaker 5: in the United States. We need an affordable housing agenda 191 00:09:58,559 --> 00:10:01,240 Speaker 5: to combat inflation, and you're part of inflation is the 192 00:10:02,400 --> 00:10:06,840 Speaker 5: lack of affordable housing in this country, and deregulation of 193 00:10:06,880 --> 00:10:08,840 Speaker 5: our housing markets is a big piece of that. 194 00:10:10,000 --> 00:10:12,520 Speaker 6: The Federal Reserve needs to continue to shrink its. 195 00:10:12,360 --> 00:10:15,760 Speaker 5: Balance sheet so that we get to price stability, and 196 00:10:15,880 --> 00:10:19,240 Speaker 5: with price stability, we can gradually lower those interest rates 197 00:10:19,400 --> 00:10:19,959 Speaker 5: to make. 198 00:10:19,800 --> 00:10:21,280 Speaker 6: Housing more affordable. 199 00:10:22,520 --> 00:10:26,480 Speaker 5: In addition to that, I think we need a national 200 00:10:26,520 --> 00:10:29,640 Speaker 5: security agenda in financial services. I think what you're gonna 201 00:10:29,640 --> 00:10:33,640 Speaker 5: see with the Trump administration and unified control of Congress 202 00:10:33,640 --> 00:10:38,280 Speaker 5: by Republicans is maximum pressure on our adversaries through the 203 00:10:38,280 --> 00:10:42,600 Speaker 5: Department of Treasury and sanctions. The previous administration was chasing 204 00:10:42,679 --> 00:10:46,120 Speaker 5: sanctions relief. When Donald Trump says he can end the 205 00:10:46,160 --> 00:10:50,000 Speaker 5: war in Ukraine, what he means by that is crushing 206 00:10:50,040 --> 00:10:56,040 Speaker 5: sanctions on Moscow instead of chasing sanctions relief, whether it's 207 00:10:56,559 --> 00:11:00,000 Speaker 5: Tehran or whether it's Moscow. You will see a much 208 00:11:00,120 --> 00:11:02,199 Speaker 5: tougher treasury when it comes to our adversaries. 209 00:11:02,559 --> 00:11:04,240 Speaker 6: That will give us leverage to. 210 00:11:04,320 --> 00:11:07,000 Speaker 5: End some of these conflicts around the world and deter 211 00:11:07,200 --> 00:11:07,840 Speaker 5: our enemies. 212 00:11:08,200 --> 00:11:10,760 Speaker 6: So it's a multi tiered strategy. 213 00:11:12,040 --> 00:11:15,760 Speaker 5: Its strength through deterrence on the national security front, and 214 00:11:15,800 --> 00:11:19,360 Speaker 5: then because we're in a global economic competition, it's about 215 00:11:19,480 --> 00:11:24,400 Speaker 5: making our financial system much more competitive through deregulation. 216 00:11:26,520 --> 00:11:28,800 Speaker 2: All right, Congressman, thank you so much for your time. 217 00:11:28,840 --> 00:11:31,520 Speaker 2: That As Congressman Andy Barr, the Republican from Kentucky in 218 00:11:31,559 --> 00:11:34,280 Speaker 2: the running to chair the Financial Services Committee in the 219 00:11:34,320 --> 00:11:36,160 Speaker 2: next Congress. Thank you so much. We want to quickly 220 00:11:36,160 --> 00:11:38,400 Speaker 2: add the voices now of our political panel today, Genie 221 00:11:38,400 --> 00:11:41,720 Speaker 2: shan z Aino, Bloomberg Politics contributor and senior Democracy Fellow 222 00:11:41,760 --> 00:11:43,920 Speaker 2: with the Center for the Study of the Presidency in Congress, 223 00:11:43,920 --> 00:11:47,240 Speaker 2: together with John Seaton, founder and CEO of Echo Canyon Consulting, 224 00:11:47,520 --> 00:11:50,640 Speaker 2: and Republican strategist John just as the Republican We just 225 00:11:50,679 --> 00:11:53,440 Speaker 2: heard from the congressman there this notion that the gate 226 00:11:53,480 --> 00:11:58,240 Speaker 2: seat could be quilled filled quickly before January. He's excited 227 00:11:58,240 --> 00:12:00,080 Speaker 2: for a lease stephonic. But how hard does it go 228 00:12:00,240 --> 00:12:02,120 Speaker 2: to be with this thin majority to get all that 229 00:12:02,160 --> 00:12:04,480 Speaker 2: work he wants to get done done When the vote 230 00:12:04,480 --> 00:12:06,040 Speaker 2: count is so narrow. 231 00:12:06,760 --> 00:12:08,520 Speaker 7: It's going to be a challenge for sure. I will 232 00:12:08,559 --> 00:12:11,080 Speaker 7: say for someone who is just on the back bench 233 00:12:11,160 --> 00:12:12,960 Speaker 7: less than a year ago or about a year ago, 234 00:12:12,960 --> 00:12:15,800 Speaker 7: Speaker Johnson has done a very very good job of 235 00:12:15,840 --> 00:12:18,839 Speaker 7: corralling votes and getting to the well was two eighteen out. 236 00:12:18,880 --> 00:12:20,320 Speaker 7: I think it will be about two hundred and sixteen 237 00:12:20,400 --> 00:12:23,080 Speaker 7: votes that he needs to pass this legislation, So it 238 00:12:23,120 --> 00:12:24,680 Speaker 7: will be a lot of work. There'll be a lot 239 00:12:24,720 --> 00:12:27,000 Speaker 7: of I think deals that are going to have to 240 00:12:27,000 --> 00:12:29,520 Speaker 7: be cut to get these things through, But I would 241 00:12:29,520 --> 00:12:31,760 Speaker 7: not count out Speaker Johnson. He's done a very very 242 00:12:31,800 --> 00:12:32,600 Speaker 7: good job so far. 243 00:12:33,600 --> 00:12:36,000 Speaker 4: Well. Pretty interesting to hear from the Congressman Genie about 244 00:12:36,000 --> 00:12:38,880 Speaker 4: government funding. He says, don't kick the can. We need 245 00:12:38,960 --> 00:12:42,240 Speaker 4: regular order. Let's pass all twelve spending bills. Would it 246 00:12:42,280 --> 00:12:44,280 Speaker 4: not take a Christmas miracle for that to happen? 247 00:12:45,520 --> 00:12:48,079 Speaker 8: It would, But boy, that was a great conversation and 248 00:12:48,240 --> 00:12:50,960 Speaker 8: music to my ears. As we keep talking every year 249 00:12:51,000 --> 00:12:54,640 Speaker 8: after year after year, can we get something in place 250 00:12:54,760 --> 00:12:57,680 Speaker 8: so that the government can be funded in a regular way, 251 00:12:57,679 --> 00:13:01,040 Speaker 8: in an orderly way. And so to your Congressman Barr 252 00:13:01,120 --> 00:13:03,800 Speaker 8: say that, But to your point, I think it's easier 253 00:13:03,840 --> 00:13:06,920 Speaker 8: obviously said, than done. We know that from experience. And 254 00:13:06,960 --> 00:13:09,160 Speaker 8: I also thought it was very interesting to hear him 255 00:13:09,200 --> 00:13:14,079 Speaker 8: say about the confirmation process in terms of Matt Gates, 256 00:13:14,120 --> 00:13:17,400 Speaker 8: that you know the Senate is going to be considering 257 00:13:17,600 --> 00:13:20,200 Speaker 8: likely what is coming out of the Ethics Committee. And 258 00:13:20,240 --> 00:13:23,000 Speaker 8: my understanding is they are at this very moment battling 259 00:13:23,360 --> 00:13:26,120 Speaker 8: about what is released, but whether it's released publicly or 260 00:13:26,160 --> 00:13:28,839 Speaker 8: not is almost beside the point. I agree with him 261 00:13:28,880 --> 00:13:32,199 Speaker 8: completely that the Senators have a right to get that information. 262 00:13:33,920 --> 00:13:36,480 Speaker 2: Well, I wonder about one senator in particular, John, the 263 00:13:36,520 --> 00:13:39,080 Speaker 2: one who was all excited about a new job yesterday, 264 00:13:39,120 --> 00:13:41,600 Speaker 2: Senator John Thune of South Dakota just elected to be 265 00:13:41,640 --> 00:13:44,280 Speaker 2: the next majority leader, and then he's handed the difficulty 266 00:13:44,280 --> 00:13:48,079 Speaker 2: of navigating a Gates confirmation process. How do you think 267 00:13:48,120 --> 00:13:48,440 Speaker 2: he'll do. 268 00:13:49,920 --> 00:13:51,840 Speaker 7: I think he'll do a great job. I think that 269 00:13:51,920 --> 00:13:55,560 Speaker 7: John Dune is why what does that look like? What 270 00:13:55,600 --> 00:13:57,680 Speaker 7: does that look like? I think I think he has 271 00:13:57,720 --> 00:14:00,360 Speaker 7: the respect of his members, and I think this job, 272 00:14:00,360 --> 00:14:03,280 Speaker 7: when it comes to leadership, it really is about having 273 00:14:03,280 --> 00:14:06,080 Speaker 7: the trust and the support of your fifty two other 274 00:14:06,520 --> 00:14:09,800 Speaker 7: Republican members, and I think that they know that he'll 275 00:14:09,840 --> 00:14:13,199 Speaker 7: have their back. They know that he's working for the 276 00:14:13,480 --> 00:14:15,800 Speaker 7: betterment of the conference. So I think he'll do well. 277 00:14:15,840 --> 00:14:18,000 Speaker 7: I do think that he's got some real challenging confirmation 278 00:14:18,080 --> 00:14:20,520 Speaker 7: battles up ahead of him right now. I'm not sure 279 00:14:20,560 --> 00:14:22,440 Speaker 7: how excited he is to have the job, but I 280 00:14:22,440 --> 00:14:24,760 Speaker 7: think he'll do well. And I think that his colleagues 281 00:14:25,240 --> 00:14:27,200 Speaker 7: really do respect him, and I think that will play 282 00:14:27,400 --> 00:14:29,440 Speaker 7: a huge role in how the Senate runs over the 283 00:14:29,480 --> 00:14:31,200 Speaker 7: next two years. 284 00:14:31,240 --> 00:14:33,880 Speaker 4: Certainly, big shoes to fill in a big test now 285 00:14:34,080 --> 00:14:37,760 Speaker 4: with a President Trump emerging. At the other end of 286 00:14:37,760 --> 00:14:38,880 Speaker 4: Pennsylvania Avenue. 287 00:14:41,880 --> 00:14:45,160 Speaker 1: You're listening to the Bloomberg Balance of Power podcast Ken 288 00:14:45,360 --> 00:14:48,400 Speaker 1: Just Live weekdays at noon Eastern on Applecarplay and then 289 00:14:48,480 --> 00:14:51,440 Speaker 1: Roudoo with the Bloomberg Business app. You can also listen 290 00:14:51,520 --> 00:14:54,640 Speaker 1: live on Amazon Alexa from our flagship New York station, 291 00:14:55,040 --> 00:14:57,760 Speaker 1: Just Say Alexa Play Bloomberg eleven thirty. 292 00:15:00,120 --> 00:15:02,720 Speaker 4: We also wait for more news in Washington from the 293 00:15:02,760 --> 00:15:06,920 Speaker 4: Trump transition team. Remember, I know your mind was blown yesterday, 294 00:15:06,920 --> 00:15:09,120 Speaker 4: but we still have some big ones. We need Treasury, 295 00:15:09,600 --> 00:15:13,680 Speaker 4: we need health and Human Services, and both of those 296 00:15:13,720 --> 00:15:16,400 Speaker 4: will be big news when they break. As we follow 297 00:15:16,440 --> 00:15:19,600 Speaker 4: the bouncing ball in the House of Representatives, We're almost there. 298 00:15:19,600 --> 00:15:23,080 Speaker 4: What do we have nine races left to be called 299 00:15:23,720 --> 00:15:26,160 Speaker 4: a week and several days later, we told you that 300 00:15:26,200 --> 00:15:29,080 Speaker 4: was going to happen. It's California, right. Final tally though, 301 00:15:29,200 --> 00:15:32,200 Speaker 4: Check this out. As Donald Trump continues to pluck Republicans 302 00:15:33,280 --> 00:15:35,800 Speaker 4: from the House of Representatives. The final tally when this 303 00:15:35,880 --> 00:15:38,320 Speaker 4: is done could be a gop net gain of a 304 00:15:38,440 --> 00:15:43,400 Speaker 4: single seat, and so Mike Johnson, the Speaker of the House, 305 00:15:43,440 --> 00:15:51,360 Speaker 4: fresh off leadership elections, yesterday sees and feels unity with 306 00:15:51,520 --> 00:15:53,920 Speaker 4: his very thin margin. 307 00:15:54,000 --> 00:15:54,600 Speaker 6: Whaff for thin. 308 00:15:54,800 --> 00:15:56,000 Speaker 4: Here's the Speaker of the House. 309 00:15:56,880 --> 00:15:58,720 Speaker 3: The theme that you'll hear over and over from all 310 00:15:58,760 --> 00:16:01,280 Speaker 3: of our members across the confer is that we are 311 00:16:01,360 --> 00:16:04,320 Speaker 3: unified and energized and ready to go. Serious times call 312 00:16:04,360 --> 00:16:07,320 Speaker 3: for serious leadership. It's going to be a policy agenda 313 00:16:07,400 --> 00:16:10,520 Speaker 3: driven administration and a Congress, and you've heard us say 314 00:16:10,520 --> 00:16:12,720 Speaker 3: many times it could be. I believe it will be 315 00:16:13,080 --> 00:16:16,160 Speaker 3: the most consequential Congress of the modern era, most consequential 316 00:16:16,200 --> 00:16:18,560 Speaker 3: administration in the modern era, because, frankly, we have to 317 00:16:18,600 --> 00:16:21,600 Speaker 3: fix almost every area of public policy. 318 00:16:23,400 --> 00:16:25,760 Speaker 4: Beginning with funding the government. Remember we've had a funding 319 00:16:25,760 --> 00:16:28,560 Speaker 4: deadline on the twentieth of December. And that's where we 320 00:16:28,560 --> 00:16:30,880 Speaker 4: start our conversation with the gentleman from New York. Dan 321 00:16:30,920 --> 00:16:34,480 Speaker 4: Goldbmin is here, the Democrat from New York's tenth congressional district, 322 00:16:34,960 --> 00:16:38,080 Speaker 4: the force behind the Bagel Caucus. Congressman, it's great to 323 00:16:38,080 --> 00:16:42,160 Speaker 4: see you, welcome. It's pretty clear that once again Mike 324 00:16:42,240 --> 00:16:44,600 Speaker 4: Rogers is going to need Democrats to get anything done. 325 00:16:45,640 --> 00:16:48,680 Speaker 4: How much support will the Democratic Conference give him on 326 00:16:48,720 --> 00:16:49,960 Speaker 4: things like funding the government? 327 00:16:51,120 --> 00:16:53,960 Speaker 9: Well, it really depends Joe and it just as it 328 00:16:54,040 --> 00:16:58,280 Speaker 9: depended in the last Congress, when Democrats stepped up to 329 00:16:58,680 --> 00:17:00,520 Speaker 9: be the adults in the room and make sure that 330 00:17:00,560 --> 00:17:03,080 Speaker 9: we kept the government open, We passed a budget, we 331 00:17:03,200 --> 00:17:07,959 Speaker 9: provided much needed supplemental security assistance to our democratic allies 332 00:17:08,000 --> 00:17:11,960 Speaker 9: around the world. There will be a thin, thin majority, 333 00:17:12,000 --> 00:17:14,879 Speaker 9: probably less than what it was in the last Congress, 334 00:17:15,600 --> 00:17:19,760 Speaker 9: and it really depends on which way this Republican Party 335 00:17:19,840 --> 00:17:23,600 Speaker 9: wants to go. I am encouraged to hear Speaker Johnson 336 00:17:23,720 --> 00:17:28,840 Speaker 9: say that it will be a policy oriented Congress. Donald 337 00:17:28,880 --> 00:17:31,919 Speaker 9: Trump's Project twenty twenty five and some of his initial 338 00:17:32,320 --> 00:17:39,360 Speaker 9: nominations for cabinet posts reflect an unseerious, non policy oriented approach, 339 00:17:39,920 --> 00:17:43,119 Speaker 9: and that will really determine what Democrats are going to do. 340 00:17:43,160 --> 00:17:45,679 Speaker 9: If Donald Trump is going to try to dismantle our 341 00:17:45,720 --> 00:17:50,560 Speaker 9: democracy for his own personal retribution and personal gain, he 342 00:17:50,600 --> 00:17:53,720 Speaker 9: will not find any cooperation from Democrats. If he wants 343 00:17:53,760 --> 00:17:59,680 Speaker 9: to focus on policy and fixing the border, addressing our economy, 344 00:18:00,280 --> 00:18:03,480 Speaker 9: he very well may have partners in the Democratic Party, 345 00:18:03,520 --> 00:18:05,760 Speaker 9: but it really is on them to figure out which 346 00:18:05,800 --> 00:18:06,720 Speaker 9: path they want to go. 347 00:18:08,160 --> 00:18:10,639 Speaker 4: We had Kevin robertson a couple of days ago, the 348 00:18:10,680 --> 00:18:13,480 Speaker 4: head of the Heritage Foundation and one of the forces 349 00:18:13,520 --> 00:18:18,240 Speaker 4: behind Project twenty twenty five, which you just mentioned. He's 350 00:18:18,359 --> 00:18:20,560 Speaker 4: someone who's trying to get back in from the cold, 351 00:18:20,600 --> 00:18:23,119 Speaker 4: it seems, and you know, the Trump camp disavowed much 352 00:18:23,600 --> 00:18:26,679 Speaker 4: of that plan. When you talk about dismantling democracy, are 353 00:18:26,680 --> 00:18:28,919 Speaker 4: you talking about schedule F for some of these other 354 00:18:29,000 --> 00:18:32,600 Speaker 4: ideas in twenty twenty five? Just what should our audience 355 00:18:32,680 --> 00:18:35,320 Speaker 4: know that you're referring to, because I haven't seen any 356 00:18:35,320 --> 00:18:37,520 Speaker 4: sort of real proposal on that front yet. 357 00:18:38,359 --> 00:18:38,600 Speaker 6: Yeah. 358 00:18:38,680 --> 00:18:41,200 Speaker 9: I mean, I think it's a combination of things. Joe 359 00:18:41,359 --> 00:18:44,719 Speaker 9: Schedule F, which, for those who don't understand, would allow 360 00:18:46,560 --> 00:18:51,320 Speaker 9: career expert government employees to be fired at will and 361 00:18:51,400 --> 00:18:57,000 Speaker 9: potentially replaced by political loyalists who are unqualified and incapable 362 00:18:57,040 --> 00:19:00,520 Speaker 9: of actually running the day to day government. That will do, 363 00:19:00,800 --> 00:19:04,240 Speaker 9: and we've seen it a little bit from the nominations 364 00:19:04,240 --> 00:19:07,600 Speaker 9: of Tulsi Gabbard and Pete Hegseth and Matt Gates, is 365 00:19:07,640 --> 00:19:13,040 Speaker 9: it will turn these executive branch agencies into political arms 366 00:19:13,119 --> 00:19:17,080 Speaker 9: of Donald Trump, and that will undermine our national security, 367 00:19:17,600 --> 00:19:20,240 Speaker 9: That will weaponize the Department of Justice to go after 368 00:19:20,280 --> 00:19:24,679 Speaker 9: Trump's enemies and allies. Matt Gates will execute that to 369 00:19:24,960 --> 00:19:26,000 Speaker 9: Donald Trump's wishes. 370 00:19:26,720 --> 00:19:28,760 Speaker 6: It will allow the. 371 00:19:28,160 --> 00:19:32,679 Speaker 9: Military to be used, for example, to disperse a protest 372 00:19:32,960 --> 00:19:35,800 Speaker 9: on the National Mall that Donald Trump doesn't like, and 373 00:19:35,840 --> 00:19:39,640 Speaker 9: it will really undermine our intelligence community if Tulsey Gabbard, 374 00:19:40,240 --> 00:19:45,800 Speaker 9: who has very untoward relationships with Assad and Putin, oversees 375 00:19:45,840 --> 00:19:47,040 Speaker 9: our intelligence community. 376 00:19:47,080 --> 00:19:48,119 Speaker 6: So that's a big part of it. 377 00:19:48,359 --> 00:19:51,680 Speaker 9: But we're also talking about getting rid of the Department 378 00:19:51,720 --> 00:19:57,000 Speaker 9: of Education. We are talking about yanking certification for mifipristone 379 00:19:57,000 --> 00:20:00,679 Speaker 9: medication abortion. We are talking about rolling back all of 380 00:20:00,720 --> 00:20:03,840 Speaker 9: the incentives and subsidies for renewable energy, and the list 381 00:20:03,880 --> 00:20:07,919 Speaker 9: goes on and on and on. Those are more policy decisions, 382 00:20:08,280 --> 00:20:13,560 Speaker 9: but combined with Donald Trump's personal revenge tour and his 383 00:20:13,640 --> 00:20:18,960 Speaker 9: authoritarian rhetoric, there's a real danger that the basic foundations 384 00:20:18,960 --> 00:20:21,760 Speaker 9: of our government are going to be destroyed. 385 00:20:22,720 --> 00:20:24,639 Speaker 4: Well, it brings us to our resolution, and I do 386 00:20:24,720 --> 00:20:26,639 Speaker 4: want to just say that I realize that that you 387 00:20:26,680 --> 00:20:30,040 Speaker 4: have concerns, Congressmen, but we haven't seen any formal proposals 388 00:20:30,080 --> 00:20:33,040 Speaker 4: on that front. He's not in office yet. We're ready 389 00:20:33,080 --> 00:20:35,720 Speaker 4: for whatever happens, but you're up with a resolution to 390 00:20:35,720 --> 00:20:38,720 Speaker 4: make sure that he only serves one more term. This 391 00:20:38,920 --> 00:20:43,640 Speaker 4: is something that you're introducing today in this session of Congress, 392 00:20:43,680 --> 00:20:45,399 Speaker 4: mister Guldbman of New York, I'm looking at it in 393 00:20:45,400 --> 00:20:47,879 Speaker 4: front of me here submitted the following refer to the 394 00:20:47,880 --> 00:20:51,879 Speaker 4: Committee Resolution reaffirming the Validity and Applicability of the twenty 395 00:20:51,960 --> 00:20:57,200 Speaker 4: second Amendment. Whereas President elect Donald Trump told Republican members 396 00:20:57,200 --> 00:20:59,920 Speaker 4: of the House on November thirteen, quote, I suspect I 397 00:21:00,040 --> 00:21:03,119 Speaker 4: won't be running again unless you say he's so good, 398 00:21:03,960 --> 00:21:07,000 Speaker 4: We've got to figure something else out unquote. Now, a 399 00:21:07,040 --> 00:21:09,480 Speaker 4: lot of people thought that was a joke. Congressman, you 400 00:21:09,520 --> 00:21:12,639 Speaker 4: took it seriously enough to draft this reaffirming the twenty 401 00:21:12,680 --> 00:21:15,679 Speaker 4: second Amendment applies to two terms in the aggregate. As 402 00:21:15,720 --> 00:21:19,119 Speaker 4: President of the United States, this is already in the Constitution. 403 00:21:19,240 --> 00:21:20,680 Speaker 4: What makes you think you have to do this? 404 00:21:22,040 --> 00:21:24,879 Speaker 9: Well, I've been following Donald Trump very closely for the 405 00:21:24,920 --> 00:21:26,439 Speaker 9: last five years, Joe, as you know, I was the 406 00:21:26,480 --> 00:21:30,200 Speaker 9: lead council on his first impeachment investigation, and I know 407 00:21:30,320 --> 00:21:33,360 Speaker 9: how he operates, and how he operates is by floating 408 00:21:33,400 --> 00:21:36,720 Speaker 9: trial balloons that he often claims are jokes, but he's 409 00:21:36,840 --> 00:21:39,760 Speaker 9: very serious. About it, and he's been talking about staying 410 00:21:39,800 --> 00:21:44,240 Speaker 9: on past this next term for years. He's made numerous 411 00:21:44,280 --> 00:21:48,040 Speaker 9: references to it, and the way that he operates is 412 00:21:48,240 --> 00:21:50,919 Speaker 9: that things start as a joke, then they become normalized, 413 00:21:50,960 --> 00:21:53,639 Speaker 9: and then he tries to do them. And so this 414 00:21:53,800 --> 00:21:57,800 Speaker 9: is simply just to call on Congress to reaffirm that 415 00:21:57,840 --> 00:22:01,080 Speaker 9: the twenty second Amendment, as it clearly states, applies to 416 00:22:01,280 --> 00:22:05,720 Speaker 9: Donald Trump and non consecutive terms two terms in the aggregate. 417 00:22:06,160 --> 00:22:09,440 Speaker 9: It is plainly written in the Constitution. But there is 418 00:22:09,600 --> 00:22:12,120 Speaker 9: enough talk about it from Donald Trump, from others who 419 00:22:12,160 --> 00:22:15,840 Speaker 9: support him. Lauren Bobert made a reference to it last week. 420 00:22:16,160 --> 00:22:19,520 Speaker 9: There's enough talk about it that it is imperative that 421 00:22:19,600 --> 00:22:23,760 Speaker 9: we very immediately and very clearly stand up and say 422 00:22:24,320 --> 00:22:27,880 Speaker 9: this is what the Constitution says. Republicans in Congress, are 423 00:22:27,920 --> 00:22:31,359 Speaker 9: you for the Constitution or are you against the Constitution? 424 00:22:31,880 --> 00:22:34,520 Speaker 9: It should be very easy for them because it is 425 00:22:34,680 --> 00:22:38,440 Speaker 9: very simply what the Constitution says. But unfortunately, if Donald 426 00:22:38,480 --> 00:22:42,359 Speaker 9: Trump does not believe in the Constitution, all too often 427 00:22:42,480 --> 00:22:44,600 Speaker 9: Republicans in Congress go along with them. 428 00:22:44,960 --> 00:22:46,640 Speaker 6: And if that is the case, for the. 429 00:22:46,560 --> 00:22:50,960 Speaker 9: Next four years, our Constitution will be sorely undermined. 430 00:22:51,840 --> 00:22:54,679 Speaker 4: So you're calling on lawmakers essentially to support what has 431 00:22:54,720 --> 00:22:57,560 Speaker 4: already been written here. You mentioned Matt Gates, and I 432 00:22:57,600 --> 00:22:59,399 Speaker 4: do remember if we can go back a couple of 433 00:22:59,440 --> 00:23:03,919 Speaker 4: years here, December twenty nineteen House Judiciary Committee, you had 434 00:23:04,000 --> 00:23:07,600 Speaker 4: quite a throwdown with Matt Gates over the impeachment of 435 00:23:07,720 --> 00:23:10,520 Speaker 4: Donald Trump. He called you out as the majority's witness 436 00:23:10,640 --> 00:23:14,800 Speaker 4: and counsel in addition to being a Democratic donor. I'm 437 00:23:14,800 --> 00:23:17,200 Speaker 4: looking at a news release that Matt Gates's office kicked 438 00:23:17,200 --> 00:23:20,360 Speaker 4: out that very day, as they describe you as frequently 439 00:23:20,400 --> 00:23:23,959 Speaker 4: attacking the president on Twitter? Was that the beginning of 440 00:23:24,000 --> 00:23:26,840 Speaker 4: Matt Gates's trajectory to becoming Attorney General. 441 00:23:28,960 --> 00:23:30,880 Speaker 9: I don't know whether that is or not. I think 442 00:23:32,119 --> 00:23:35,720 Speaker 9: you know. I've worked with Matt Gates now for two years. 443 00:23:36,359 --> 00:23:39,280 Speaker 9: I've seen how he operates. I've heard what he believes. 444 00:23:40,280 --> 00:23:43,560 Speaker 9: He is a burn down the House kind of member. 445 00:23:43,600 --> 00:23:46,679 Speaker 9: He wants to burn down the Department of Justice, he 446 00:23:46,680 --> 00:23:48,119 Speaker 9: wants to eliminate the FBI. 447 00:23:48,200 --> 00:23:49,680 Speaker 6: He wants his own personal. 448 00:23:49,320 --> 00:23:52,760 Speaker 9: Retribution and revenge against the Department of Justice because they 449 00:23:53,680 --> 00:23:58,359 Speaker 9: went through an extensive criminal investigation of him. So he 450 00:23:58,520 --> 00:24:03,159 Speaker 9: is the exact wrong person to run an institution that 451 00:24:03,400 --> 00:24:08,600 Speaker 9: is so important to the orderly interpretation and implementation of 452 00:24:08,640 --> 00:24:12,600 Speaker 9: our laws, our criminal laws, our civil laws. This is 453 00:24:12,680 --> 00:24:16,760 Speaker 9: about as bad of a pick as one could imagine, 454 00:24:16,800 --> 00:24:21,040 Speaker 9: because mister Gates just literally wants to tear it down 455 00:24:21,080 --> 00:24:23,600 Speaker 9: and he will turn the Department of Justice into Donald 456 00:24:23,640 --> 00:24:28,119 Speaker 9: Trump's personal attorney, which is not what it is designed 457 00:24:28,160 --> 00:24:28,480 Speaker 9: to be. 458 00:24:30,160 --> 00:24:33,160 Speaker 4: This ephen gets out of the starting gate here, Congressman, 459 00:24:33,200 --> 00:24:35,920 Speaker 4: Thank you Dan Goldman of New York with an important 460 00:24:35,960 --> 00:24:38,880 Speaker 4: headline that relates to the gentleman from New York City. 461 00:24:38,960 --> 00:24:42,240 Speaker 4: Congestion pricing here it is nine dollars a toll to 462 00:24:42,320 --> 00:24:44,280 Speaker 4: start in January, according to the governor. 463 00:24:47,920 --> 00:24:51,440 Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch 464 00:24:51,520 --> 00:24:54,439 Speaker 1: Just Live weekdays at noon Eastern on evilcar Play and 465 00:24:54,440 --> 00:24:57,119 Speaker 1: then roun Otto with a Bloomberg Business app Listen on 466 00:24:57,240 --> 00:25:03,480 Speaker 1: demand wherever you get your podcasts, or watch live on YouTube. 467 00:25:03,800 --> 00:25:06,280 Speaker 4: Thanks for being here on Bloomberg TV and Radio. I'm 468 00:25:06,320 --> 00:25:09,159 Speaker 4: Joe Matthew alongside Kaylee Lions. It's the Thursday edition of 469 00:25:09,200 --> 00:25:12,800 Speaker 4: Balance of Power with still many questions about the appointments 470 00:25:12,800 --> 00:25:15,400 Speaker 4: that we're hearing, and we'll still hear from Donald Trump 471 00:25:15,480 --> 00:25:18,159 Speaker 4: as he fills out his cabinet. Much of the view, Kaylee, 472 00:25:18,200 --> 00:25:22,199 Speaker 4: has been domestic, but there's a deliberate effort here at 473 00:25:22,240 --> 00:25:24,800 Speaker 4: Bloomberg to keep our eyes on geopolitics, with a lot 474 00:25:24,840 --> 00:25:28,880 Speaker 4: of questions about what another Trump administration will mean, specifically 475 00:25:28,880 --> 00:25:32,879 Speaker 4: for Ukraine and the Middle East. Anthony Blinken is back overseas, 476 00:25:32,920 --> 00:25:34,800 Speaker 4: by the way, not to deal with the matter of Israel. 477 00:25:34,880 --> 00:25:37,600 Speaker 4: He went to Europe, went to Brussels to talk to 478 00:25:37,680 --> 00:25:40,320 Speaker 4: NATO about Ukraine as the administration tries to get the 479 00:25:40,359 --> 00:25:43,800 Speaker 4: remaining money and material from the sixty one billion dollar 480 00:25:43,880 --> 00:25:46,639 Speaker 4: relief package for Ukraine out the door, Kayley before the 481 00:25:46,680 --> 00:25:48,040 Speaker 4: inaugural Well. 482 00:25:47,920 --> 00:25:50,320 Speaker 2: Yeah, as they're trying to perhaps Trump proof this to 483 00:25:50,359 --> 00:25:52,960 Speaker 2: the extent that they can, knowing that both the President 484 00:25:53,000 --> 00:25:56,760 Speaker 2: elect and the Vice President elect have expressed skepticism about 485 00:25:56,760 --> 00:26:00,520 Speaker 2: continued US support financially for Ukraine. And then there's of 486 00:26:00,520 --> 00:26:04,560 Speaker 2: course the other people who could join this administration to 487 00:26:04,600 --> 00:26:07,200 Speaker 2: consider here as well. We learned yesterday that Senator Marco 488 00:26:07,240 --> 00:26:10,200 Speaker 2: Rubio of Florida will be tapped for Secretary of State. 489 00:26:10,960 --> 00:26:14,600 Speaker 2: Former Congressman Toulci Gabbard will be Director of National Intelligence. 490 00:26:14,920 --> 00:26:18,520 Speaker 2: We've gotten a number of picks that raised many foreign 491 00:26:18,520 --> 00:26:21,520 Speaker 2: policy questions. Of course, before that, Pete Hexa, the Defense 492 00:26:21,560 --> 00:26:24,960 Speaker 2: Secretary and at least Dephonic tapped her ambassador to the US. 493 00:26:26,160 --> 00:26:28,280 Speaker 4: Did you put together the mosaic here? If you're with 494 00:26:28,359 --> 00:26:30,720 Speaker 4: us on Bloomberg TV or on YouTube, you can see 495 00:26:30,720 --> 00:26:34,080 Speaker 4: it in real time. It does make you wonder what 496 00:26:34,200 --> 00:26:37,200 Speaker 4: the administration's approach will be, Kayley, Remembering Donald Trump said 497 00:26:37,240 --> 00:26:40,040 Speaker 4: he would end this war in Ukraine on day one. 498 00:26:40,240 --> 00:26:42,000 Speaker 2: So we want to get more on the ongoing war 499 00:26:42,040 --> 00:26:45,159 Speaker 2: in Ukraine and how this administration could approach it this 500 00:26:45,240 --> 00:26:47,960 Speaker 2: incoming administration. And turn to Melinda Herring. She is non 501 00:26:47,960 --> 00:26:51,520 Speaker 2: resident Senior Fellow at the Atlantic Council. Welcome back to 502 00:26:51,560 --> 00:26:54,560 Speaker 2: Balance of Power, Melinda, as we assess those who could 503 00:26:54,600 --> 00:26:58,879 Speaker 2: help shape Donald Trump's foreign policy in this second administration, 504 00:26:58,960 --> 00:27:01,240 Speaker 2: and specifically the lan which we have heard from them 505 00:27:01,640 --> 00:27:04,240 Speaker 2: on Ukraine. What do you make of the picks so far? 506 00:27:04,320 --> 00:27:07,280 Speaker 2: How do you think Ukraine feels about them. 507 00:27:07,200 --> 00:27:10,320 Speaker 10: Hey, Kayley, So we don't know a lot. At this point. 508 00:27:10,440 --> 00:27:13,800 Speaker 10: Ukrainians were relieved at the choice of Secretary of State 509 00:27:14,240 --> 00:27:18,600 Speaker 10: and also at the National Security Advisor. Both Rubio and 510 00:27:18,920 --> 00:27:23,840 Speaker 10: the congressmen are internationalists, and the congressman in particular, the 511 00:27:23,840 --> 00:27:27,159 Speaker 10: future National Security Advisor, mister Walts, has a strong record 512 00:27:27,200 --> 00:27:30,320 Speaker 10: on Ukraine. His votes have been good for his record, 513 00:27:30,400 --> 00:27:33,320 Speaker 10: He's met with Ukrainian soldiers, he gets it. So I 514 00:27:33,320 --> 00:27:36,240 Speaker 10: think Ukraine felt a huge sense of relief at those 515 00:27:36,280 --> 00:27:37,680 Speaker 10: two appointments. 516 00:27:39,359 --> 00:27:42,640 Speaker 4: What does Pete Hegseth specifically bring to the effort, knowing 517 00:27:42,640 --> 00:27:45,320 Speaker 4: that he's looking to house clean at the Pentagon. Were 518 00:27:45,320 --> 00:27:47,640 Speaker 4: going to tack this from a couple of different ways here. 519 00:27:47,680 --> 00:27:51,040 Speaker 4: Melinda foggy Bottom is one state department. The other, though, 520 00:27:51,119 --> 00:27:55,520 Speaker 4: is the Pentagon itself and the promise to fire scores 521 00:27:55,520 --> 00:27:59,480 Speaker 4: of generals. What would that mean for intelligence sharing, for 522 00:27:59,600 --> 00:28:02,160 Speaker 4: strategy eg gathering when it comes to Ukraine. 523 00:28:03,640 --> 00:28:06,679 Speaker 10: Hey, Joe, I think the Pentagon nomination is one that 524 00:28:06,720 --> 00:28:09,879 Speaker 10: gives people a lot of pause right now. It's not 525 00:28:10,040 --> 00:28:12,840 Speaker 10: very clear what this gentleman would bring to the table 526 00:28:12,960 --> 00:28:15,879 Speaker 10: in terms of his managerial chops. When you zoom in 527 00:28:15,880 --> 00:28:18,600 Speaker 10: and look at Ukraine, the Pentagon has been critical in 528 00:28:18,680 --> 00:28:21,879 Speaker 10: making sure that all of the weapons that Congress has 529 00:28:21,880 --> 00:28:25,119 Speaker 10: appropriated get there on time. And this gentleman seems to 530 00:28:25,160 --> 00:28:28,800 Speaker 10: be occupied with a lot of domestic concerns. So I 531 00:28:28,800 --> 00:28:32,719 Speaker 10: think the foreign policy crowd in Washington is very skeptical 532 00:28:33,080 --> 00:28:34,080 Speaker 10: of this nominee. 533 00:28:35,960 --> 00:28:39,200 Speaker 2: Okay, So if we're looking at potential areas in which 534 00:28:39,240 --> 00:28:42,320 Speaker 2: there is concern over those who will be in the 535 00:28:42,480 --> 00:28:46,440 Speaker 2: incoming Trump administration in the US, Melinda, is there going 536 00:28:46,480 --> 00:28:49,080 Speaker 2: to be the ability to make up for that and 537 00:28:49,520 --> 00:28:52,440 Speaker 2: other allies around the world. Is Europe going to be 538 00:28:52,480 --> 00:28:55,320 Speaker 2: able to step in where the US might not, or 539 00:28:55,600 --> 00:28:58,440 Speaker 2: is there really no hope for Ukraine if US military 540 00:28:58,440 --> 00:29:00,080 Speaker 2: and financial backing does not continue. 541 00:29:01,360 --> 00:29:04,400 Speaker 10: There's always hope, and there's always hope for Ukraine because 542 00:29:04,480 --> 00:29:07,800 Speaker 10: Ukrainians are determined and this is an existential fight. So 543 00:29:08,280 --> 00:29:12,480 Speaker 10: even though some of the current nominees raise more than 544 00:29:12,520 --> 00:29:15,640 Speaker 10: an eyebrow, give me anxiety at night, pick whatever analogy 545 00:29:15,680 --> 00:29:18,840 Speaker 10: you like, they are not confirmed and they may not 546 00:29:18,960 --> 00:29:22,680 Speaker 10: make it through the confirmation process. And the attitude in 547 00:29:22,800 --> 00:29:26,320 Speaker 10: Kiev is a lot chiller than it is here in Washington. 548 00:29:26,360 --> 00:29:29,360 Speaker 10: Their attitude is we can work with anyone. We will 549 00:29:29,480 --> 00:29:31,720 Speaker 10: find the right argument, and we will make the case 550 00:29:31,800 --> 00:29:35,719 Speaker 10: because Ukraine must have assistance and Europe is stepping up. 551 00:29:35,760 --> 00:29:38,800 Speaker 10: Europe has been freaking out for the last week and 552 00:29:38,960 --> 00:29:42,680 Speaker 10: they realize that they haven't put their defensive lines in place, 553 00:29:42,720 --> 00:29:46,160 Speaker 10: they haven't stepped up manufacturing to the extent that they 554 00:29:46,240 --> 00:29:49,320 Speaker 10: need to, and I think they're finally freaking out. And 555 00:29:49,760 --> 00:29:52,560 Speaker 10: that's a good thing. That's a good thing for European security. 556 00:29:52,800 --> 00:29:56,240 Speaker 10: It's a good thing for US taxpayers as well. 557 00:29:56,280 --> 00:29:59,240 Speaker 4: Talk to us, Melinda, about what is being prepared for shipment, 558 00:29:59,280 --> 00:30:02,280 Speaker 4: whether it's money or material military gear. What does the 559 00:30:02,320 --> 00:30:05,920 Speaker 4: administration have left that it is so determined to send 560 00:30:05,920 --> 00:30:07,840 Speaker 4: over before January? 561 00:30:07,960 --> 00:30:11,800 Speaker 10: Yeah, Joe, this is the really important question. So Jake Sullivan, 562 00:30:12,000 --> 00:30:15,200 Speaker 10: the current National Security Advisor, has said that the five 563 00:30:15,280 --> 00:30:18,760 Speaker 10: point five billion remaining on the books will be in 564 00:30:18,840 --> 00:30:21,920 Speaker 10: key of by January twentieth. It will be Trump proofed. Now, 565 00:30:21,960 --> 00:30:23,880 Speaker 10: I've been making some phone calls and talking to people 566 00:30:23,960 --> 00:30:27,280 Speaker 10: on Capitol Hill, and that's not what I'm hearing and seeing. 567 00:30:27,520 --> 00:30:30,800 Speaker 10: According to some of the conversations I've had, Joe, only 568 00:30:30,800 --> 00:30:33,160 Speaker 10: twenty to twenty five percent of that kit that the 569 00:30:33,280 --> 00:30:37,120 Speaker 10: Ukrainians really need and it's very hard now, will arrive 570 00:30:37,160 --> 00:30:40,720 Speaker 10: by January twentieth. So apparently the White House decided to 571 00:30:40,720 --> 00:30:45,680 Speaker 10: put this military equipment on to ship it by sea 572 00:30:45,760 --> 00:30:47,640 Speaker 10: rather than to fly it in. So this is a 573 00:30:47,640 --> 00:30:51,000 Speaker 10: big problem, and I hope the White House can speed 574 00:30:51,040 --> 00:30:54,120 Speaker 10: it up because Ukrainians are depending on it. 575 00:30:55,920 --> 00:30:58,680 Speaker 2: Well, let's talk about something else Ukraine is dependent on 576 00:30:58,720 --> 00:31:02,440 Speaker 2: because wars are not just fought with actual ammunition and weapon, 577 00:31:02,480 --> 00:31:06,120 Speaker 2: They're fought with information and the ability to communicate. And 578 00:31:06,200 --> 00:31:09,160 Speaker 2: I wonder, Melinda, what your reaction is to the role 579 00:31:09,240 --> 00:31:12,280 Speaker 2: we are seeing Elon Musk now play in his closeness 580 00:31:12,520 --> 00:31:14,719 Speaker 2: to the president elect, the role he will serve. We 581 00:31:14,800 --> 00:31:18,680 Speaker 2: understands the co head of the Department of Government Efficiency 582 00:31:18,720 --> 00:31:21,360 Speaker 2: knowing that he has the power to influence the operations 583 00:31:21,400 --> 00:31:23,920 Speaker 2: of Starlink, and according to reporting, has even discussed that 584 00:31:23,960 --> 00:31:25,760 Speaker 2: matter with Vladimir Putin. 585 00:31:27,640 --> 00:31:29,640 Speaker 10: Right, So this is a relationship that I'm going to 586 00:31:29,640 --> 00:31:32,400 Speaker 10: continue to watch. We don't know how it's going to evolve, 587 00:31:32,440 --> 00:31:35,280 Speaker 10: but the fact that Musk is involved in the conversations 588 00:31:35,560 --> 00:31:39,040 Speaker 10: over Russia and Ukraine means that it's important and that 589 00:31:39,120 --> 00:31:42,040 Speaker 10: it will be an elevated issue in the early days 590 00:31:42,040 --> 00:31:45,040 Speaker 10: in the Trump administration. So, unfortunately, I don't think we 591 00:31:45,080 --> 00:31:46,719 Speaker 10: can speculate much more beyond that. 592 00:31:46,760 --> 00:31:51,440 Speaker 4: It's something I'm watching, Melinda. If Donald Trump's idea of 593 00:31:52,320 --> 00:31:54,880 Speaker 4: ending this war on day one includes a settlement that 594 00:31:55,000 --> 00:31:58,840 Speaker 4: gives Russia all of the occupied territory that it's taken 595 00:31:58,880 --> 00:32:01,760 Speaker 4: from the dumbboss, all the way down through Crimea. Does 596 00:32:01,800 --> 00:32:04,640 Speaker 4: he have a willing partner in President Zelenski or is 597 00:32:04,640 --> 00:32:05,400 Speaker 4: that a deal breaker? 598 00:32:07,960 --> 00:32:12,400 Speaker 10: So I don't know so right now, Zelenski's saying no territory, 599 00:32:12,680 --> 00:32:16,160 Speaker 10: but the conversation in Kiev has switched from territory Joe 600 00:32:16,480 --> 00:32:20,040 Speaker 10: to security guarantees. And I think that's the area where 601 00:32:20,440 --> 00:32:24,160 Speaker 10: the Ukrainians are not going to give whatsoever they've said, 602 00:32:24,280 --> 00:32:27,440 Speaker 10: even if we freeze the conflict now, even if there's 603 00:32:27,480 --> 00:32:30,480 Speaker 10: some kind of DMZ zone, we know that the Russians 604 00:32:30,560 --> 00:32:33,320 Speaker 10: will come back at us and we can't live in peace. 605 00:32:33,400 --> 00:32:36,800 Speaker 10: This is not this is not a just piece. And 606 00:32:36,880 --> 00:32:40,440 Speaker 10: it's interesting that Donald Trump has used the phrase just piece. 607 00:32:40,680 --> 00:32:43,560 Speaker 10: It's also interesting, So Trump made a lot of promises, 608 00:32:43,600 --> 00:32:45,720 Speaker 10: there's a lot of campaign Rick. He said that he 609 00:32:45,760 --> 00:32:48,280 Speaker 10: will in the war in twenty four hours. I'm sorry, 610 00:32:48,280 --> 00:32:50,760 Speaker 10: that's not possible, but it's instructive to go back and 611 00:32:50,800 --> 00:32:53,320 Speaker 10: look at his record. So when he pulled out of 612 00:32:53,440 --> 00:32:56,480 Speaker 10: the Iran deal, it took them sixteen months to do it. 613 00:32:56,560 --> 00:32:58,680 Speaker 10: So I think Donald Trump is likely to find out 614 00:32:58,880 --> 00:33:01,560 Speaker 10: that he makes these big, big, bold promises, but the 615 00:33:01,600 --> 00:33:04,760 Speaker 10: actual implementation is quite sticky, and he's not going to 616 00:33:04,800 --> 00:33:07,160 Speaker 10: want to put himself, especially in the early days in 617 00:33:07,200 --> 00:33:11,840 Speaker 10: his administration, in a week footing. If he were to 618 00:33:11,960 --> 00:33:15,080 Speaker 10: freeze AID on January twentieth, there's going to be egg 619 00:33:15,280 --> 00:33:17,719 Speaker 10: all over the United States face, and the Chinese are 620 00:33:17,760 --> 00:33:21,360 Speaker 10: watching us and what we're doing in Ukraine. I don't 621 00:33:21,400 --> 00:33:23,760 Speaker 10: think Donald Trump can afford that, and I think he 622 00:33:23,880 --> 00:33:27,920 Speaker 10: is probably going to pivot back to a reaganes theme 623 00:33:28,520 --> 00:33:30,880 Speaker 10: of peace through strength. 624 00:33:32,640 --> 00:33:36,640 Speaker 2: As we consider what's actually happening in Ukraine now, Melinda, 625 00:33:36,640 --> 00:33:41,120 Speaker 2: Obviously there has been in the last several weeks a 626 00:33:41,120 --> 00:33:43,480 Speaker 2: lot of focus on the fact that North Koreans are 627 00:33:43,520 --> 00:33:47,400 Speaker 2: now involved in this conflict. What actually has that done 628 00:33:47,480 --> 00:33:51,600 Speaker 2: to change conditions on the ground and the actual operations 629 00:33:51,800 --> 00:33:54,320 Speaker 2: and abilities of Russia and the way in which Ukraine 630 00:33:54,360 --> 00:33:55,560 Speaker 2: has to respond. 631 00:33:56,520 --> 00:34:00,520 Speaker 10: Kai it's making The infusion of these ten thousand North 632 00:34:00,600 --> 00:34:04,040 Speaker 10: Korean troops up in Kursk Oblast is making it more 633 00:34:04,080 --> 00:34:07,800 Speaker 10: difficult for the Ukrainians. The Ukrainians are short on men 634 00:34:08,440 --> 00:34:12,080 Speaker 10: and shells right now, and the pressure is really on. 635 00:34:12,320 --> 00:34:15,319 Speaker 10: Is it decisive? No, but it increases the pressure. And 636 00:34:15,360 --> 00:34:18,880 Speaker 10: it's also winter, and the winter season is going to 637 00:34:18,880 --> 00:34:22,400 Speaker 10: be hard, cold and brutal, and I expect pretty severe 638 00:34:22,440 --> 00:34:25,839 Speaker 10: blackouts if the Russians continue their missile strikes, which they 639 00:34:25,880 --> 00:34:27,319 Speaker 10: have been over the past week. 640 00:34:28,440 --> 00:34:31,160 Speaker 4: You know, we're assuming as a premise of this conversation, Melinda, 641 00:34:31,280 --> 00:34:34,319 Speaker 4: maybe rightfully, so, I guess that's my question. Should we 642 00:34:34,400 --> 00:34:38,839 Speaker 4: assume that this new Congress, with Republican control of both 643 00:34:38,840 --> 00:34:42,520 Speaker 4: the House and Senate, would not approve any further funding 644 00:34:42,560 --> 00:34:43,160 Speaker 4: for Ukraine? 645 00:34:44,560 --> 00:34:47,879 Speaker 10: Joe, I'm not willing to concede that yet. So there 646 00:34:47,920 --> 00:34:49,799 Speaker 10: was a lot of hope for a supplemental bill, but 647 00:34:49,880 --> 00:34:52,799 Speaker 10: it doesn't look like that's going to happen in this 648 00:34:52,920 --> 00:34:55,879 Speaker 10: lame duck period. But look, you and I have had 649 00:34:55,920 --> 00:35:00,000 Speaker 10: lots of conversations about Speaker Mike Johnson. He cares about Ukraine, 650 00:35:00,200 --> 00:35:03,040 Speaker 10: he cares about the Christians that are being persecuted by 651 00:35:03,120 --> 00:35:06,719 Speaker 10: Russia there. He has personal relationships with a lot of Ukrainians, 652 00:35:06,920 --> 00:35:09,759 Speaker 10: and he knows what's at stake, And a majority of 653 00:35:09,840 --> 00:35:14,080 Speaker 10: Republicans still support Ukraine. So I'm definitely not giving up 654 00:35:14,080 --> 00:35:17,920 Speaker 10: on Congress there is bipartisan support for Ukraine on Capitol 655 00:35:18,000 --> 00:35:21,440 Speaker 10: Hill even in Trump's second term in office. 656 00:35:23,160 --> 00:35:26,719 Speaker 2: Well, I guess we'll see if that bipartisan nature is 657 00:35:27,000 --> 00:35:29,560 Speaker 2: enough to get things over the finish line in this 658 00:35:29,719 --> 00:35:32,239 Speaker 2: upcoming Congress when there's a lot domestically that they want 659 00:35:32,239 --> 00:35:35,359 Speaker 2: to get done. Melinda, President Biden is about to make 660 00:35:35,480 --> 00:35:39,080 Speaker 2: another trip Overseas, one of his last as president. He's 661 00:35:39,080 --> 00:35:42,360 Speaker 2: going to be meeting with Shijinping tomorrow on the sidelines 662 00:35:42,360 --> 00:35:44,560 Speaker 2: of the APEC summit in Peru. He'll then be heading 663 00:35:44,600 --> 00:35:47,600 Speaker 2: to the G twenty in Brazil. How do you think 664 00:35:47,880 --> 00:35:50,640 Speaker 2: Ukraine is going to factor into the conversations that will 665 00:35:50,640 --> 00:35:52,560 Speaker 2: be had over the course of the next several days. 666 00:35:54,800 --> 00:36:01,560 Speaker 10: So I know that Taiwan and many other allies in 667 00:36:01,600 --> 00:36:05,000 Speaker 10: the Pacific are watching to see if America will live 668 00:36:05,080 --> 00:36:07,759 Speaker 10: up to its promise. We've made a lot of promises 669 00:36:07,880 --> 00:36:12,680 Speaker 10: on Ukraine, and our actions have a big and resounding impact, 670 00:36:12,800 --> 00:36:17,320 Speaker 10: particularly in Asia. So I think that our actions are 671 00:36:17,360 --> 00:36:20,200 Speaker 10: being watched very carefully, and that's sort of what I 672 00:36:20,280 --> 00:36:23,480 Speaker 10: expected to see and be a focus of that discussion. 673 00:36:25,320 --> 00:36:26,800 Speaker 4: Well, Linda, it's great to have you back with this 674 00:36:27,080 --> 00:36:30,560 Speaker 4: non resident senior fellow at the Atlantic Council, with clearly 675 00:36:30,600 --> 00:36:33,040 Speaker 4: a lot of questions that have to be answered about 676 00:36:33,040 --> 00:36:36,520 Speaker 4: the way the Trump administration incoming and the incoming Republican 677 00:36:36,560 --> 00:36:39,080 Speaker 4: majority in the House and Senate will handle the matter 678 00:36:39,160 --> 00:36:41,719 Speaker 4: of Ukraine. Melinda, thank you as always for the insights, 679 00:36:42,160 --> 00:36:44,560 Speaker 4: and we hope to continue the conversation as we learn 680 00:36:44,600 --> 00:36:46,879 Speaker 4: more here, Kaylee, it really reminds us of how many 681 00:36:46,880 --> 00:36:49,200 Speaker 4: plates we have in the air as we talk about 682 00:36:49,200 --> 00:36:53,400 Speaker 4: domestic policy. Today, it's the ira and tax credits for 683 00:36:53,480 --> 00:36:57,480 Speaker 4: evs making news, but the situation in Ukraine, the situation 684 00:36:57,600 --> 00:36:59,600 Speaker 4: in the Middle East where there's now apparently a drive 685 00:36:59,640 --> 00:37:05,960 Speaker 4: for are that might coincide with the inaugural with Hesbela specifically, 686 00:37:06,719 --> 00:37:10,080 Speaker 4: really worth watching as we see this transition take place well. 687 00:37:10,120 --> 00:37:12,120 Speaker 2: And of course one of the visual elements of that 688 00:37:12,160 --> 00:37:14,840 Speaker 2: transition that we saw yesterday was a sit down between 689 00:37:14,880 --> 00:37:17,799 Speaker 2: President Biden and President elect Trump at the White House, 690 00:37:17,800 --> 00:37:19,920 Speaker 2: and according to Jake Sullivan, who took part in the 691 00:37:19,920 --> 00:37:23,640 Speaker 2: White House briefing yesterday afternoon, foreign policy did feature heavily 692 00:37:24,120 --> 00:37:26,480 Speaker 2: on that agenda for that conversation that we didn't get 693 00:37:26,520 --> 00:37:29,520 Speaker 2: a full readout. We certainly do expect both the current 694 00:37:29,560 --> 00:37:31,920 Speaker 2: leader and the one who will be leading the country 695 00:37:31,920 --> 00:37:35,160 Speaker 2: moving forward. After January twentieth, did talk about these topics 696 00:37:35,239 --> 00:37:36,680 Speaker 2: in the middle of all of the other news Donald 697 00:37:36,719 --> 00:37:38,920 Speaker 2: Trump was bringing us in regard to that's right, the 698 00:37:39,040 --> 00:37:41,080 Speaker 2: composition of his second administration. 699 00:37:41,080 --> 00:37:42,880 Speaker 4: The next big meeting and look for will be in 700 00:37:42,920 --> 00:37:45,279 Speaker 4: person President Zelenski and Donald Trump. They are working on 701 00:37:45,320 --> 00:37:47,680 Speaker 4: putting that together, according to Bloomberg reporting, and that could 702 00:37:47,719 --> 00:37:51,200 Speaker 4: be happening anytime between now and the inauguration. We'll see 703 00:37:51,200 --> 00:37:54,000 Speaker 4: if Elon Musk emerges in that meeting. But we've got 704 00:37:54,000 --> 00:37:55,799 Speaker 4: a lot more to follow. To Kaylee's point, we've been 705 00:37:55,840 --> 00:37:57,560 Speaker 4: getting a lot of these appointments in the second half 706 00:37:57,560 --> 00:38:00,920 Speaker 4: of the day. Treasury still outstanding, Health and Human Service 707 00:38:00,960 --> 00:38:02,960 Speaker 4: is still outstanding, along with a couple of others. 708 00:38:03,080 --> 00:38:07,440 Speaker 2: Yeah, Commerce, Energy, Agriculture. There is a big cabinet to 709 00:38:07,480 --> 00:38:10,040 Speaker 2: fill out of just ones that need Senate confirmation and 710 00:38:10,080 --> 00:38:12,160 Speaker 2: more still that we could learn about who won't require 711 00:38:12,760 --> 00:38:13,319 Speaker 2: that check. 712 00:38:16,680 --> 00:38:19,879 Speaker 4: Thanks for listening to the Balance of Power podcast. Make 713 00:38:19,920 --> 00:38:22,880 Speaker 4: sure to subscribe if you haven't already, at Apple, Spotify, 714 00:38:22,960 --> 00:38:25,520 Speaker 4: or wherever you get your podcasts, and you can find 715 00:38:25,600 --> 00:38:28,840 Speaker 4: us live every weekday from Washington, DC. At noontime Eastern 716 00:38:29,160 --> 00:38:30,520 Speaker 4: at Bloomberg dot com