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Speaker 1: Live from our nation's camera. How do we reopen this economy?

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Speaker 1: The latest on how this pandemic is impacting farmers. What

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Speaker 1: does this do for the United States relationship with China?

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Speaker 1: Bloomberg Sound On, The Insiders, the influencers, the insides. We're

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Speaker 1: responding to this crisis and manufacturers are stepping up like

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Speaker 1: never before. We're looking at seveny Kennedys for different vaccines.

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Speaker 1: How do we make sure a pandemic of this scale

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Speaker 1: never happens again? This is Bloomberg Sound On with Kevin

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Speaker 1: Surrelate on Bloomberg and one oh five point seven f

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Speaker 1: M h D two. Joe Biden and Senator Kamala Harris

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Speaker 1: get ready for their big debut joint appearance. How will

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Speaker 1: they be received? Plus Speaker Pelosi has a lot to

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Speaker 1: say about Secretary Minution and says that the talks are

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Speaker 1: in limbo? Can there ever be a breakthrough? And all

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Speaker 1: of that, plus the latest ongoing situation on the Mony

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Speaker 1: twenty campaign trail and geo political tensions around the world.

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Speaker 1: My name is Kevin CURRELLI. I am the chief at

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Speaker 1: Washington correspondent for Bloomberg Television and for Bloomberg Radio, and

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Speaker 1: as we begin again. We are awaiting that first joint appearance,

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Speaker 1: the first joint appearance between presumptive Democratic presidential nominee Joe

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Speaker 1: Biden and of course Senator Kamala Harris, and we're gonna

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Speaker 1: continue to now unpack that pick throughout the next uh

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Speaker 1: ninety minutes on this program, and we're going to bring

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Speaker 1: you complete analysis on all fronts. And also coming up

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Speaker 1: on the program, we're also going to hear from Robert

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Speaker 1: Shapiro because he's got he's an economic advisor to Democratic

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Speaker 1: presidential candidates, including Bill Clinton and Barack Obama, and he

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Speaker 1: has um a really fascinating look into precisely what a

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Speaker 1: vice presidential pick can mean and what it can signal

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Speaker 1: or the economy in an administration. Wall Street, Mind you

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Speaker 1: breathe the sigh of relief because they were worried that

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Speaker 1: Biden was going to pick Senator Elizabeth Warren or someone

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Speaker 1: else from that wing of the Democratic Party. And just

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Speaker 1: to catch us up to speed on the market reaction um,

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Speaker 1: the U S stocks briefly surpassed the all time closing

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Speaker 1: high reached before the coronavirus pandemic, propelled by surging technology

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Speaker 1: shares and the dollar weekend, and Treasury yields rose to

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Speaker 1: five week highs. The SNPI climbed one pot four and

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Speaker 1: it momentarily topped the level reached on February nine, and

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Speaker 1: it capped. It capped the more than fifty rally since

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Speaker 1: the market lows in March. I mean it was a

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Speaker 1: record intra day high that was set the same day,

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Speaker 1: So I mean it was it was a fascinating day

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Speaker 1: on the markets. You've got Washington still had an impass

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Speaker 1: on the stalemate. Uh, and you've got Wall Street and

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Speaker 1: traders breathing a sigh of relief in terms of the

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Speaker 1: pick from from Joe Biden. So that's that's the stage

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Speaker 1: that's set. As I welcome a friend of the program,

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Speaker 1: Robert Shapiro, who is chairman of sodocon to the former

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Speaker 1: Senior Economic advisor, as I mentioned to Democratic presidential candidates

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Speaker 1: like Bill Clinton and Barack Obama, I mean, I want

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Speaker 1: to get to your peace in Washington monthly, Robert, But

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Speaker 1: first I want your economic reaction in terms of the policy.

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Speaker 1: Enough of the politics, right, what does it mean for policy?

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Speaker 1: A Senator Harris a vice president, Well, I think for

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Speaker 1: policy it means that Joe Biden is committed to a

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Speaker 1: progressive economic program. UH. And the question is, UM, how

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Speaker 1: deep will the whole be that the Trump administration is

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Speaker 1: digging in the economy. UM, by the time Joe Biden

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Speaker 1: takes office, if he wins the election. You know, I

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Speaker 1: hear you on that point. However, I think and my

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Speaker 1: colleagues Max Abel sent, Amanda Gordon, and Catty because Kina

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Speaker 1: have a great story on the Bloomberg terminal UM, in

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Speaker 1: which UH they The headline reads Wall Street Democrats for

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Speaker 1: Joyce that Biden's pick of moderate Harris. I hear you laughing.

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Speaker 1: Go ahead, Well, the fact is she is a moderate

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Speaker 1: uh in as compared to UM Elizabeth Warren and Bernie Sanders. UM,

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Speaker 1: she's also a progressive UM as Joe Biden is. The

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Speaker 1: fact of the matter is Biden's program, so far as announced,

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Speaker 1: will be the most progressive program we've seen UM, both

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Speaker 1: on climate UM and on equality, on supporting UM families

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Speaker 1: through this terrible economic collapse. Uh. That's frankly the result. Yes,

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Speaker 1: it's the result of the pandemic, but but just as

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Speaker 1: much it's the result of the administration's mismanagement of the pandemic.

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Speaker 1: And I want to get to your piece in Washington Monthly.

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Speaker 1: But just one of the one of the things that

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Speaker 1: has emerged in our world for our audiences, UH information.

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Speaker 1: When she was Attorney General, I mean remember it was

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Speaker 1: during the housing crisis, right, I mean, this is back

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Speaker 1: in two thousands, you know, which we all thought was

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Speaker 1: going to be the worst financial collapse of our lifetime.

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Speaker 1: Little did we know we were gonna get whacked with

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Speaker 1: COVID nineteen. But back then, I mean, in that landscape,

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Speaker 1: when you look at it through the lens of the

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Speaker 1: housing crisis, when she went after JP Morgan, and I

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Speaker 1: was dusting up in my history of this just within

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Speaker 1: the last day or so, and she went after JP Morgan.

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Speaker 1: She didn't do it by saying, hey, you got to

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Speaker 1: have more capital requirements, if we need more stress testing,

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Speaker 1: or we need to have the CTPB. She did it

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Speaker 1: through legal enforcements. So I hear you in in terms

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Speaker 1: of you labeling her progressive. And when I talked to

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Speaker 1: Republican today, yes, on the issue of rejoining the Iron

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Speaker 1: Nuclear Disarmament Deal, what she wants to do on the

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Speaker 1: issue with regards to UH energy policy, very progressive. But

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Speaker 1: on the issue of financial regulation for the Bloomberg audience.

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Speaker 1: She's much more centrist. I mean because she did it

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Speaker 1: through legal enforcement with JP Morgan and not through uh

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Speaker 1: the Senator Elizabeth Warren policy playbook. Am I wrong her?

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Speaker 1: Am I right? No? I think you're right. Um. However,

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Speaker 1: you know she's also very strong. When um, the banks

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Speaker 1: were trying to cut a deal with all the states

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Speaker 1: over the there um mismanagement and braud in mortgage lending,

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Speaker 1: and they offered, I think, uh, six billion dollars is

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Speaker 1: going to be California's taken. It was going to be settled,

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Speaker 1: but all the states were going to settle it at once,

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Speaker 1: and she alone said, no, we won't accept it. That's

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Speaker 1: too small. That doesn't begin to make up for um,

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Speaker 1: the costs of those practices on people. And they went

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Speaker 1: they were forced to go back into negotiation, and she

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Speaker 1: got eighteen billion dollars. All the other attorney generals followed

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Speaker 1: her lead when she said no. So this is a

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Speaker 1: very strong, UH and focused politician who UM looks to

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Speaker 1: the results rather than what you have to do, rather

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Speaker 1: than simply changing the law in the hopes that in

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Speaker 1: the future it won't happen. I think you're right. Robert

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Speaker 1: Robert ship here is on the line. He's advised Bill

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Speaker 1: Clinton and Barack Obama, and of course is the CEO

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Speaker 1: of Sonic on here in Washington, d C. Your new

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Speaker 1: piece in Washington Monthly. Trump and the Republicans are risking

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Speaker 1: an all out depression. Robert, I think we're already in

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Speaker 1: a depression. But go ahead. But I read this piece

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Speaker 1: and your your argument is that the policies here are

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Speaker 1: going to make it worse. Five. Well, I think think

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Speaker 1: about what happened in the second quarter. In the second quarter,

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Speaker 1: g d P declined almost ten annual rate, the biggest

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Speaker 1: drop on record for a single quarter. That happened with

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Speaker 1: two trillion dollars in support UM provided by Congress. UH,

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Speaker 1: and the economy had collapsed because states were closing down. Well,

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Speaker 1: we we are with respect to COVID back where we

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Speaker 1: were in March. COVID is spiking again across much of

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Speaker 1: the country. It's already leading to some renewed shutdowns. UM.

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Speaker 1: So the economy in the third quarter, UM, the weakness

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Speaker 1: is going to resemble something like the second quarter. But

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Speaker 1: in addition, this time they're not going to provide the money.

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Speaker 1: It's really remarkable, especially as it's it's it's Herbert Hoover

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Speaker 1: all over again. Um. You know the he was another

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Speaker 1: Republican president with a GOP control Congress who rejected calls

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Speaker 1: for wide ranging government assistance during an economic crisis. And

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Speaker 1: we all know, I mean remember Hooverville's and I remember,

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Speaker 1: I mean I remember back in uh the middle school

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Speaker 1: play Annie. That's on Hooverville. Listen, Robert Shapire, I can

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Speaker 1: talk to you forever. Thank you so much for for

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Speaker 1: your insights and and diving into the weeds, because I

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Speaker 1: really want to make sure that we're doing that here,

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Speaker 1: diving into the policy of all of these different ideas.

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Speaker 1: And we always have you on when you have a

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Speaker 1: new piece, and I know you'll be on in the

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Speaker 1: weeks ahead. That's Robert Shapiro. Everybody coming up next week

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Speaker 1: check in with more policy and politics. I'm Kevin Sireley,

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Speaker 1: Chief Washington correspondent for Bloomberg Television and for Bloomberg Radio.

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Speaker 1: You're listening to Bloomberg one. This is Bloomberg Sound On

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Speaker 1: with Kevin Surreley on Bloomberg and one oh five point

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Speaker 1: seven f M h D two. I'm Kevin CERELLI, Chief

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Speaker 1: Washington correspondent for Bloomberg Television and for Bloomberg Radio. US

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Speaker 1: cases rise one point one percent. Governor phil Murphy Murphy

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Speaker 1: drops a requirement up in Jersey that Jersey public schools

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Speaker 1: conduct in person teaching only. Meanwhile, to senior Federal Reserve

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Speaker 1: officials lamented the US failure to control the coronavirus pandemic

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Speaker 1: compared with other nations. And that's the latest on the

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Speaker 1: on the COVID nineteen front. But we're still going to

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Speaker 1: talk politics before we head into the next hour and

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Speaker 1: and dive more into the dive more into the policy

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Speaker 1: of the stalemate. It's still a stalemate up on up

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Speaker 1: on Capitol Hill. I'm thrilled to welcome back to the

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Speaker 1: program someone who knows a thing or two about whether

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Speaker 1: or not Senator Kamala Harris is a progressive or not,

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Speaker 1: because of his insights in the new book To Bernie,

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Speaker 1: The Inside Story of How Bernie Sanders brought Latinos into

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Speaker 1: the Political Revolution. He's a former senior advisor to Bernie

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Speaker 1: Sanders for the President in two thousand and sixteen and

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Speaker 1: in two thousand and twenty. His name is Chuck roacha

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Speaker 1: Chuck and I go way back We've been talking to

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Speaker 1: each other for years now, and Chuck, I skimmed the

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Speaker 1: new book. I actually do read these books, okay, And

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Speaker 1: I think it's fascinating because, especially now, at a time

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Speaker 1: in which the Latino vote is so incredibly important in

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Speaker 1: the upcoming election, you really make the case for why

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Speaker 1: or how rather progressives can um can do that. But

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Speaker 1: I got to ask you about the vice presidential pick

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Speaker 1: we just had. You know, some reporting that suggests that

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Speaker 1: centrist Democrats are thrilled with this. Should progressive Democrats be

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Speaker 1: okay with with Joe Biden picking Senator Harris? Yeah? But

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Speaker 1: I think, and I wrote this in an off ed

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Speaker 1: that I just finished this afternoon, that you know, the

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Speaker 1: greatest thing for the Biden Harris ticket is they're running

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Speaker 1: against Donald Trump. I think this would be a different

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Speaker 1: story four years from now. I was also telling another

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Speaker 1: reporter this morning, you know, the easiest way to fix

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Speaker 1: whether somebody is progressive enough is to get them elected

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Speaker 1: and see what kind of government they put around them.

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Speaker 1: You talk about this every day on your show, that

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Speaker 1: Biden is just one person and Senator Harris is just

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Speaker 1: one person. The way they build out their government, their cabinets.

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Speaker 1: You can see what Donald Trump has done, whether you

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Speaker 1: truly agree or disagree, is where the real power lies.

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Speaker 1: And then electing a Senate and a Congress you can

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Speaker 1: work with. So is she has progressive? Maybe around certain

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Speaker 1: issues she is or not all depending on who you

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Speaker 1: talked to. But I think he was a really safe

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Speaker 1: choice for him. There's two things that he underperforms in

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Speaker 1: every day. He underperforms in his Latino performance compared to

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Speaker 1: Hillary in sixteen and Obama in twelve. And he must

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Speaker 1: get African American turnout up too closer to the O

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Speaker 1: eight Obama number than the dismal performance that Hillary had

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Speaker 1: in sixteen. Are gonna be two key factors in him

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Speaker 1: winning this election, all right, So how does he do that?

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Speaker 1: And I don't want to, you know, And the thing

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Speaker 1: that that Chuck knows is that I'm a policy nerse

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Speaker 1: So so how do how does he recalibrate on the

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Speaker 1: issues or redirect the compass so to speak? Because it

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Speaker 1: seems like and you know this, I mean, you're as

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Speaker 1: you know, as blue collar as they come, and you

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Speaker 1: were with Bernie Sanders, So how do you adopt that

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Speaker 1: message in that messaging? Well, part of this is around

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Speaker 1: just going out and having this conversation. So a lot

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Speaker 1: of people say in the policy walks to me, and

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Speaker 1: you put back and forth on this like I'm the

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Speaker 1: political ground. The policy only matters so far. The real

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Speaker 1: strategy in the campaign is how do you get what

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Speaker 1: you can do to make someone's life better in three

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Speaker 1: sentences in front of them where they are consuming information,

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Speaker 1: And a person under forties consuming information much much different

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Speaker 1: than my mother who's in her late sixties, who watches

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Speaker 1: network's news every now. So the first thing is, and

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Speaker 1: you saw it this week with Biden dropping like millions

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Speaker 1: of dollars in television advertisement because he needs to get

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Speaker 1: out there and explain to voters what is he going

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Speaker 1: to do that's better than what Donald Trump has been doing.

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Speaker 1: And so that's the first case. The argument that I

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Speaker 1: make in this book is you have to expand your targeting,

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Speaker 1: which is what Donald Trump did that was brilliant. He

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Speaker 1: went way broad in sixteen because that was his only

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Speaker 1: pathway to victory. So he talked to lots of voters

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Speaker 1: who weren't prime voters or everyday voters. He went to

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Speaker 1: a lot of folks who hadn't voted in a long

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Speaker 1: time or who may have been registered or not, and

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Speaker 1: it wasn't because Donald Trump had this long, full ray

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Speaker 1: of what policy positions he was going to get to

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Speaker 1: rebound America. He put a slogan on a red hat

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Speaker 1: and said this is what I'm going to do, which

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Speaker 1: was brilliant because that's really all people have the time

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Speaker 1: to take in right now. So it's a popularity contest

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Speaker 1: of what are you going to do for me right now?

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Speaker 1: You know, I want to as we await Joe Biden,

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Speaker 1: who's sets up here in Wilmington, Delaware, was Senator Harris

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Speaker 1: any moment, you know, but I want to talk to

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Speaker 1: you about something. And this really gets to I think

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Speaker 1: the heart of the working class Americans, uh and and

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Speaker 1: folks in this country, which is on people want to

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Speaker 1: go back to work. It doesn't matter what party they're

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Speaker 1: and they want to go back to work. They want

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Speaker 1: to be able to provide for their families, and they

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Speaker 1: want to be able to do so safely, and they

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Speaker 1: want to be able to have good paying jobs. So

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Speaker 1: you're you've literally wrote the book called t o Bernie.

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Speaker 1: The Republicans that I talk talk with and you know this,

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Speaker 1: they attack your policies, and they say that people right

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Speaker 1: now are just that the that the that the left

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Speaker 1: just wants to give hand outs to everyone and keep

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Speaker 1: them out of jobs. I mean, and that's where we're

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Speaker 1: at an impasse. And your and you your side points

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Speaker 1: at them and you say, well, you don't care about

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Speaker 1: the minority communities and the underserved communities. But I don't

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Speaker 1: want to even have that conversation right now. I want

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Speaker 1: to have from a policy standpoint, specifically, what policies you

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Speaker 1: think Biden Harris administrations should adopt to provide long, safe,

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Speaker 1: secure jobs for the Hispanic community and other underserved communities

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Speaker 1: in our country. I think it's recognized that I've been

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Speaker 1: doing a lot of focused groups on this, and it's

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Speaker 1: to your point, like the Latino community and focus groups

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Speaker 1: that I've been doing when I've asked him about this

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Speaker 1: policy position piece, they all really really have a dislike

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Speaker 1: for Donald Trump, but in the big numbers, they can't

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Speaker 1: tell me what exactly Joe Biden is going to do

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Speaker 1: to make it better. But they do know they don't

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Speaker 1: like the racist attacks that they personally see coming from

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Speaker 1: this administration. So when I say, we'll talk to me

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Speaker 1: more about the issue said, Now this was pre Corona. Now,

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Speaker 1: pre Corona, it was about worrying about health care for

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Speaker 1: their family. If they lose their job, they lose their

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Speaker 1: health care. Well, guess what Corona happened. And now they've

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Speaker 1: lost that job and they've lost that health care. They

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Speaker 1: want to know exactly what Biden is going to do

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Speaker 1: and what you're what you're getting at here. I'm not

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Speaker 1: going to be able to answer because I'm not in

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Speaker 1: his campaign, but I can tell you what they're telling me,

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Speaker 1: which is they want to know how you rebuild this

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Speaker 1: economy and get them back to work. Right. Sure, they

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Speaker 1: want the money to pay their bills right now, back

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Speaker 1: to your earlier statement on the money, but they really,

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Speaker 1: as you said, how hard Democrats Mexicans mainly in the

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Speaker 1: southwestia like, we want to go back to work, like

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Speaker 1: there's a prideful thing in working, and how and and

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Speaker 1: the contracts I've been using is how did how do

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Speaker 1: we come back from what we did with the auto

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Speaker 1: industry and with under industries right after Obama had came

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Speaker 1: into office, when we had that calamity on Wall Street,

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Speaker 1: and we did rebuild our economy and then Donald Trump

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Speaker 1: added to that I give full respect to that as well,

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Speaker 1: but you have to be able to get people back

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Speaker 1: to work. But the key here is in a safe way.

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Speaker 1: I think the people in America from our focus group

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Speaker 1: have lost trust from what they hear because they hear

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Speaker 1: so many mixed messages coming out of the White House

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Speaker 1: and the Republicans who are staying they want to go

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Speaker 1: back to work, But how do you do that safely?

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Speaker 1: And and I think it's it's fascinating. And folks, if

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Speaker 1: you're just joining us. Chuck Roaches on the line, and

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Speaker 1: he's a senior advisor to uh TO to to Bernie Sanders.

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Speaker 1: He's very in with the Bernie Sanders waging of the

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Speaker 1: Democratic Party. He's advised him for years. His new book

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Speaker 1: is called Teo Bernie, and it takes a look at

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Speaker 1: how progressives can make the case for Hispanics. And I

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Speaker 1: find this really interesting because you know, I mean, there's

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Speaker 1: so we in the media do a terrible job every

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Speaker 1: cycle of talking about various voting groups and and as

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Speaker 1: if they're one blocks, you know, the black vote, the

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Speaker 1: Evangelical vote, the Hispanic vote, and it's it's more completely

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Speaker 1: gay vote. It's more complex than that. It's so much

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Speaker 1: more complex than that, and his and and and and

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Speaker 1: so I think when you do a really good job

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Speaker 1: is tapping into that and understanding You said one thing,

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Speaker 1: and we only have a minute left, so I unfortunately

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Speaker 1: have to ask this very quickly. Um, but you said,

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Speaker 1: they know they don't like Trump, and your focus scurs,

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Speaker 1: but they don't know what Joe Biden says. That's the

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Speaker 1: same exact thing that I heard four years ago when

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Speaker 1: people were saying that about Hillary Clinton. Then yep. And

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Speaker 1: the great point for Joe Biden right now and Kamala Harris,

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Speaker 1: they have eighty days to fix that, right And I

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Speaker 1: think that's where you saw this massive mini media spend

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Speaker 1: that he dropped yesterday. I saw almost a million dollars

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Speaker 1: of that going too Spanish. That catches him up now

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Speaker 1: with Donald Trump, who has been chrounting him in Spanish,

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Speaker 1: because now he has to create that alternative narrative on

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Speaker 1: what I'm going to do. The good news for Joe

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Speaker 1: Biden is he has eighty days now to fix it

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Speaker 1: where Hillary kind of walked past it. All right, Chuck,

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Speaker 1: if you're in DC, hit me up, all right, we

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Speaker 1: got a lot to catch up on, Chuck, roach the

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Speaker 1: new book to Bernie. Thanks for checking in with me, Chuck,

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Speaker 1: I appreciate it. All right, be well, all right, thank you.

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Speaker 1: Coming up next, more policy, politics and personality. I'm Kevin Sieri,

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Speaker 1: chief Washington correspondent from Bomberg Television and Bloomberg Radio. Joe

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Speaker 1: Biden just took the stage with Senator Kamala Harris and Wilmington, Delaware.

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Speaker 1: I'll tell you what they're talking about. This is Bloomberg.

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Speaker 1: My name is Kevin CERELLI. I'm the chief Washington correspondent

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Speaker 1: for Bloomberg Television and for Bloomberg Radio. Right now in Wilmington, Delaware,

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Speaker 1: presumptive Democratic presidential nominee Joe Biden is speaking alongside Senator

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Speaker 1: Kamala Harris. He is touting his presidential campaign and he

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Speaker 1: has said that Senator Harris is ready to be vice

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Speaker 1: president on day one. Well, we are going to dip

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Speaker 1: into Senator Harris's remarks once she takes the podium. Uh.

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Speaker 1: Joe Biden speaking from a teleprompter right now in Wilmington, Delaware,

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Speaker 1: and we will carry some of Senator Harris's remarks her

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Speaker 1: first public remarks, mind you, since she has been tapped

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Speaker 1: to be the running mate to UH Joe biden Um.

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Speaker 1: And in terms of really where this story has gone

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Speaker 1: over the over the last over the last day, since

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Speaker 1: this has been announced, It's been applauded by centrist Democrats

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Speaker 1: as a safe pick, uh, it has been applauded by

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Speaker 1: progressives as a historic pick. It's been panned by Republicans

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Speaker 1: as a radical pick. So I guess really it's kind

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Speaker 1: of what you would expect to be honest. And in

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Speaker 1: terms of the market reaction, the markets did the markets today,

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Speaker 1: I mean it had it didn't really have much to

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Speaker 1: do with regards to the pick as a whole. I mean,

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Speaker 1: they were looking at other things. But the SMPI climbed

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Speaker 1: one point four percent, momentarily topping the level that it

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Speaker 1: reached on February. The U S docks briefly surpassed the

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Speaker 1: all time high, the all time closing high reached before

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Speaker 1: the coronavirus pandemic, but that was propelled by surging technology

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Speaker 1: shares um. And it really is remarkable because we're gonna

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Speaker 1: dive into this over the course of the next hour.

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Speaker 1: When you look at the stalemates still happening on Capitol Hill,

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Speaker 1: A special with Speaker Pelosi criticizing Secretary minution Um with

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Speaker 1: regards to the impass. So with that that that's the scene.

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Speaker 1: That's the that's the stage that we have set. As

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Speaker 1: I welcome in my other my two guests, my two

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Speaker 1: panelists with me. Doug High. He is a senior vice

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Speaker 1: president of Media at Craft Media and Digital. He is

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Speaker 1: the former deputy chief of staff to former House Majority

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Speaker 1: Leader Eric Cantor. And Laura think She is a Democratic

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Speaker 1: strategist and founder and CEO of Rebel Communications in San Diego.

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Speaker 1: Did I say that right? Is it rebel or rebel?

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Speaker 1: It's rebel like the verb I'm the worst? What did

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Speaker 1: I say? People do that because I understand, Yeah, but

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Speaker 1: Kevin cur really needs to do his homework on pronunciation,

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Speaker 1: especially when he has Laura Fink on the line. So,

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Speaker 1: rebel folks, I have a you know, you miss of

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Speaker 1: the shots you don't take all, right, Laura, what do

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Speaker 1: you think? I just kind of set the scene for us,

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Speaker 1: But I do you like the pick? Do you not

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Speaker 1: like the pick? You're you're out in San Diego? You

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Speaker 1: know a thing or two about California politics. I do,

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Speaker 1: And in fact, I've had the privilege of I worked

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Speaker 1: for our own Madam President, the President pro Tem of

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Speaker 1: the Senate, Tony Atkins, when she used to be Speaker

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Speaker 1: of the Assembly. And this was at the time in

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Speaker 1: statewide politics when Kamala was coming up, she was running

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Speaker 1: for a g she was running for the Senate. So

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Speaker 1: I have seen, you know, our our home state gal

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Speaker 1: um sort of grow as a candidate. And she's always

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Speaker 1: been said for many years to have the sort of

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Speaker 1: it's factor, the dynamism and the charisma that defines political

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Speaker 1: leaders on the rise, and so it doesn't surprise me

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Speaker 1: that she would be the top pick for Joe Biden.

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Speaker 1: I think she fits really well with the ticket, and Kevin,

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Speaker 1: I have to say, you laid it out really perfectly,

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Speaker 1: because here's what's Here's what's true. She is a centrist

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Speaker 1: but has enough progressive street cred to fire up the

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Speaker 1: progressive base, and Republicans have failed so far to pin

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Speaker 1: the radical this label on Joe Biden. So far, the

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Speaker 1: voters aren't buying it. So I think they're salivating at

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Speaker 1: the opportunity to try to throw that onto Kamala Harris

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Speaker 1: to see if it's fixed. So I don't know that

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Speaker 1: it will. I think I think strategically, she's you know,

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Speaker 1: she has definitely waded through the wild of many political realms, um,

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Speaker 1: and her record, you know, has a little bit of

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Speaker 1: something for everybody. So I don't know that that will

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Speaker 1: be successful, but I know that is going to be

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Speaker 1: the strategy moving forward. Well, I'm such a nerd that

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Speaker 1: last night, Doug High, I was rewatching the Tim Kaine

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Speaker 1: Mike Pence vice presidential debate. And I know it's and

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Speaker 1: it's bad to admit it, especially on air, because it

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Speaker 1: really shows everybody how little of the life I actually have.

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Speaker 1: But I when I was watching it, and I was

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Speaker 1: sitting there and I'm thinking to myself, okay, so um, okay.

430
00:24:51,000 --> 00:24:53,360
Speaker 1: Senator Harris is a much different debate. Right. We saw

431
00:24:53,400 --> 00:24:57,240
Speaker 1: her go after Joe Biden in the first Democratic presidential debate.

432
00:24:57,280 --> 00:25:00,199
Speaker 1: We saw her uh engage with Tulsey Gabbard in that

433
00:25:00,280 --> 00:25:03,760
Speaker 1: one moment. But Mike Pence is a much different type

434
00:25:03,760 --> 00:25:07,280
Speaker 1: of personality, um in terms of politics obviously the world's

435
00:25:07,320 --> 00:25:10,520
Speaker 1: apart um, and on policy as well. I mean, so

436
00:25:10,640 --> 00:25:12,960
Speaker 1: it's it's going to be interesting. And as you watch

437
00:25:13,040 --> 00:25:15,400
Speaker 1: sort of the Republican response in the last twenty four

438
00:25:15,440 --> 00:25:18,240
Speaker 1: hours in terms of how they have been attacking Senator

439
00:25:18,280 --> 00:25:21,040
Speaker 1: Harris's record as it relates to the Green New Deal,

440
00:25:21,200 --> 00:25:26,840
Speaker 1: as it relates to UM, UH, her her support for

441
00:25:26,960 --> 00:25:31,679
Speaker 1: the Heroes Act and whatnot. Presumptive Democratic presidential nominee Joe

442
00:25:31,720 --> 00:25:34,760
Speaker 1: Biden is speaking in Walmington, Delaware. UH, and we're gonna

443
00:25:34,800 --> 00:25:37,399
Speaker 1: dip into Senator Kamala Harris is running me. This is

444
00:25:37,400 --> 00:25:41,440
Speaker 1: the first time, the first time that they have um

445
00:25:42,040 --> 00:25:48,119
Speaker 1: appeared together, appeared together, and Doug High is with us,

446
00:25:48,160 --> 00:25:51,760
Speaker 1: as is Laura Fainkduck. Can you hear me? All right?

447
00:25:51,800 --> 00:25:55,600
Speaker 1: So your Republican analysis in terms of the policy response

448
00:25:55,680 --> 00:25:59,480
Speaker 1: to UH, to Senator Harris as the pick, well, I

449
00:25:59,520 --> 00:26:03,240
Speaker 1: think Senator Harris is probably the best pick that Biden

450
00:26:03,280 --> 00:26:05,400
Speaker 1: could make for a lot of reasons. And I will

451
00:26:05,440 --> 00:26:07,879
Speaker 1: say it's the one I've always thought all along it

452
00:26:07,880 --> 00:26:10,320
Speaker 1: would be. I rarely get these things right, So I'm

453
00:26:10,359 --> 00:26:13,560
Speaker 1: glad I finally did. UM it's what you see Republicans

454
00:26:13,560 --> 00:26:17,480
Speaker 1: attacking her. It's not about attacking Kamala Harris. It's clearly

455
00:26:17,520 --> 00:26:21,000
Speaker 1: about trying to use Harris to attack Biden. I think

456
00:26:21,040 --> 00:26:24,080
Speaker 1: the challenge for Republicans here is voters know who Joe

457
00:26:24,080 --> 00:26:27,280
Speaker 1: Biden is, and he doesn't have the negative ratings that

458
00:26:27,560 --> 00:26:31,040
Speaker 1: Hillary Clinton did. Hillary Clinton was massively unpopular. Joe Biden

459
00:26:31,119 --> 00:26:34,840
Speaker 1: just isn't. And they like Joe Biden, and and so

460
00:26:34,960 --> 00:26:37,040
Speaker 1: to say that Joe Biden is just some empty vessel

461
00:26:37,080 --> 00:26:38,879
Speaker 1: that's going to be filmed by the left, I think

462
00:26:38,880 --> 00:26:41,400
Speaker 1: it's a toss for Republicans that maybe let me interrupt

463
00:26:41,400 --> 00:26:43,720
Speaker 1: here to Senator Harris has just taken the podium, and

464
00:26:43,720 --> 00:26:45,280
Speaker 1: I want to I want to cut to her first

465
00:26:45,320 --> 00:26:49,560
Speaker 1: remarks here. She is primary in history. The country received

466
00:26:49,600 --> 00:26:53,520
Speaker 1: a resounding message that Joe was the person to lead

467
00:26:53,640 --> 00:26:58,080
Speaker 1: us forward. And Joe, I'm so proud to stand with you,

468
00:26:59,160 --> 00:27:03,320
Speaker 1: and I do so mindful of all the heroic and

469
00:27:03,440 --> 00:27:11,000
Speaker 1: ambitious women before me whose sacrifice, determination, and resilience makes

470
00:27:11,040 --> 00:27:15,639
Speaker 1: my presence here today even possible. This is a moment

471
00:27:16,520 --> 00:27:23,040
Speaker 1: of real consequence for America. Everything we care about, our economy,

472
00:27:23,359 --> 00:27:27,919
Speaker 1: our health, our children, the kind of country we live in,

473
00:27:29,000 --> 00:27:33,880
Speaker 1: it's all on the line. We're reeling from the worst

474
00:27:34,359 --> 00:27:40,280
Speaker 1: public health crisis in a century. The president's mismanagement of

475
00:27:40,320 --> 00:27:46,680
Speaker 1: the pandemic has plunged us into the worst economic crisis

476
00:27:47,160 --> 00:27:52,640
Speaker 1: since the Great Depression, and We're experiencing a moral reckoning

477
00:27:52,880 --> 00:27:57,160
Speaker 1: with racism and systemic injustice that has brought a new

478
00:27:57,280 --> 00:28:03,680
Speaker 1: coalition of conscience to the streets of our country, demanding change.

479
00:28:05,160 --> 00:28:10,879
Speaker 1: America is crying out for leadership. Yet we have a

480
00:28:10,960 --> 00:28:15,200
Speaker 1: president who cares more about himself than the people who

481
00:28:15,240 --> 00:28:19,639
Speaker 1: elected him, a president who was making every challenge we

482
00:28:19,840 --> 00:28:25,399
Speaker 1: face even more difficult to solve. But here's the good news.

483
00:28:26,280 --> 00:28:30,400
Speaker 1: We don't have to accept the failed government of Donald

484
00:28:30,400 --> 00:28:35,679
Speaker 1: Trump and Mike Pence. In just eighty three days, we

485
00:28:35,840 --> 00:28:41,840
Speaker 1: have a chance to choose a better future for our country.

486
00:28:43,600 --> 00:28:50,040
Speaker 1: So Joe, Dr Biden, thank you for the trust you've

487
00:28:50,040 --> 00:28:54,080
Speaker 1: placed in me. Jill, I know you will be an

488
00:28:54,080 --> 00:28:58,240
Speaker 1: incredible first lady, and my husband Doug and I are

489
00:28:58,320 --> 00:29:03,080
Speaker 1: so grateful, grateful to become a part of your extended family.

490
00:29:04,760 --> 00:29:08,160
Speaker 1: And ever since I received Joe's call, I've been thinking,

491
00:29:09,160 --> 00:29:13,400
Speaker 1: yes about the first Biden that I really came to know,

492
00:29:13,720 --> 00:29:16,520
Speaker 1: and that, of course, is Joe's beloved son, one of

493
00:29:16,600 --> 00:29:21,040
Speaker 1: his beloved sons. Bow. In the midst of the Great Recession,

494
00:29:21,800 --> 00:29:25,600
Speaker 1: Bow and I spoke on the phone practically every day,

495
00:29:25,720 --> 00:29:31,320
Speaker 1: sometimes multiple times a day, working together to win back

496
00:29:31,520 --> 00:29:35,920
Speaker 1: billions of dollars for homeowners from the big banks of

497
00:29:35,960 --> 00:29:40,360
Speaker 1: the nation that were foreclosing on people's homes. And let

498
00:29:40,440 --> 00:29:44,280
Speaker 1: me just tell you about Bo Biden. I learned quickly

499
00:29:44,960 --> 00:29:48,840
Speaker 1: that Bow was the kind of guy who inspired people

500
00:29:49,040 --> 00:29:54,240
Speaker 1: to be a better version of themselves. He really was

501
00:29:54,280 --> 00:29:57,400
Speaker 1: the best of us. And when I would ask him,

502
00:29:57,520 --> 00:30:00,160
Speaker 1: where did you get that? Where this come from? Um?

503
00:30:00,840 --> 00:30:06,400
Speaker 1: He had always talked about his dad, and I will

504
00:30:06,440 --> 00:30:12,800
Speaker 1: tell you the love that they shared was incredible to watch.

505
00:30:13,800 --> 00:30:18,080
Speaker 1: It was the most beautiful display of the love between

506
00:30:18,080 --> 00:30:23,040
Speaker 1: a father and a son. And Bo talked about how

507
00:30:23,160 --> 00:30:26,920
Speaker 1: Joe would spend four hours every day riding the rails

508
00:30:27,000 --> 00:30:30,360
Speaker 1: back and forth from Wilmington to Washington so he can

509
00:30:30,440 --> 00:30:33,120
Speaker 1: make breakfast for his kids in the morning and make

510
00:30:33,160 --> 00:30:36,040
Speaker 1: it home in time to tuck them in bed each night.

511
00:30:37,360 --> 00:30:41,120
Speaker 1: All of this so two little boys who had just

512
00:30:41,280 --> 00:30:44,240
Speaker 1: lost their mom and their sister in a tragic accident

513
00:30:45,000 --> 00:30:50,040
Speaker 1: would know that the world was still turning. And that's

514
00:30:50,040 --> 00:30:54,920
Speaker 1: how I came to know Joe. He's someone whose first

515
00:30:55,000 --> 00:30:59,120
Speaker 1: response when things get tough is never to think about himself,

516
00:30:59,680 --> 00:31:05,280
Speaker 1: but care for everyone else. He's someone who never asks

517
00:31:05,880 --> 00:31:11,320
Speaker 1: why is this happening to me and instead asks what

518
00:31:11,440 --> 00:31:17,959
Speaker 1: can I do to make life better for you? His empathy,

519
00:31:18,360 --> 00:31:22,680
Speaker 1: his compassion, his sense of duty to care for others

520
00:31:24,160 --> 00:31:26,440
Speaker 1: is why I am so proud to be on this

521
00:31:26,480 --> 00:31:30,400
Speaker 1: ticket and Joe and I, yes we are cut from

522
00:31:30,400 --> 00:31:34,880
Speaker 1: the same cloth. Family is everything to me too, and

523
00:31:34,920 --> 00:31:37,960
Speaker 1: I cannot wait for America to get to know my husband,

524
00:31:38,040 --> 00:31:42,120
Speaker 1: Doug and our amazing kids calling Ella because whether I'm

525
00:31:42,200 --> 00:31:45,440
Speaker 1: cheering in the bleachers at a swim meat or setting

526
00:31:45,520 --> 00:31:49,120
Speaker 1: up a college room dorm, or helping my god daughter

527
00:31:49,240 --> 00:31:52,960
Speaker 1: prepare for her school debate, are building legos with my

528
00:31:53,040 --> 00:31:58,360
Speaker 1: godson or hugging my two baby nieces or cooking dinner

529
00:31:59,360 --> 00:32:05,080
Speaker 1: Sunday there my family means everything to me. And I've

530
00:32:05,080 --> 00:32:08,160
Speaker 1: had a lot of titles over my career, and certainly

531
00:32:08,520 --> 00:32:13,080
Speaker 1: vice president will be great, but Mamala will always be

532
00:32:13,400 --> 00:32:17,640
Speaker 1: the one that means the most. And you know, my

533
00:32:17,800 --> 00:32:22,120
Speaker 1: mother and father, they came from opposite sides of the

534
00:32:22,120 --> 00:32:26,240
Speaker 1: world to arrive in America, one from India and the

535
00:32:26,280 --> 00:32:30,280
Speaker 1: other from Jamaica in search of a world class education.

536
00:32:31,440 --> 00:32:35,160
Speaker 1: But what brought them together was the civil rights movement

537
00:32:35,200 --> 00:32:38,560
Speaker 1: of the nineteen sixties, and that's how they met as

538
00:32:38,600 --> 00:32:42,360
Speaker 1: students in the streets of Oakland, marching and shouting for

539
00:32:42,400 --> 00:32:46,560
Speaker 1: this thing called justice, in a struggle that continues today,

540
00:32:48,160 --> 00:32:50,600
Speaker 1: and I was part of it. My parents would bring

541
00:32:50,600 --> 00:32:56,480
Speaker 1: me to protests strapped tightly in my stroller, and my mother, Shamala,

542
00:32:57,160 --> 00:33:00,360
Speaker 1: raised my sister Maya and me to believe that it

543
00:33:00,440 --> 00:33:05,320
Speaker 1: was up to us and every generation of Americans to

544
00:33:05,480 --> 00:33:09,800
Speaker 1: keep on marching. She tell us, don't sit around and

545
00:33:09,800 --> 00:33:15,320
Speaker 1: complain about things. Do something. So I did something. I've

546
00:33:15,360 --> 00:33:21,240
Speaker 1: been listening to Senator Kamala Harris, Democrat from California, making

547
00:33:21,240 --> 00:33:25,560
Speaker 1: her first remarks. Her first remarks, folks, since joining former

548
00:33:25,640 --> 00:33:29,840
Speaker 1: Vice president now presumptive Democratic presidential nominee Joe Biden's ticket.

549
00:33:29,840 --> 00:33:31,520
Speaker 1: My name is Kevin c REALI. I'm the chief Washington

550
00:33:31,520 --> 00:33:33,960
Speaker 1: correspondent for Bloomberg Television and for Bloomberg Radio. We have

551
00:33:34,040 --> 00:33:37,400
Speaker 1: been covering the story for every angle and joining us,

552
00:33:37,520 --> 00:33:41,080
Speaker 1: joining me on the line to offer their insights and

553
00:33:41,160 --> 00:33:44,360
Speaker 1: analysis are two of the best in the business, you know.

554
00:33:44,360 --> 00:33:47,080
Speaker 1: And I looked at the rundown, I thought, thank you too,

555
00:33:47,400 --> 00:33:49,800
Speaker 1: folks who know what they're talking about. Doug High, Senior

556
00:33:49,880 --> 00:33:52,480
Speaker 1: vice president of Media at Craft Media and Digital's the

557
00:33:52,520 --> 00:33:55,400
Speaker 1: former deputy chief of staff to Eric Cantor and Laura Think,

558
00:33:55,640 --> 00:33:59,720
Speaker 1: democratic strategist and founder and CEO of Rebel Communications in

559
00:34:00,000 --> 00:34:01,800
Speaker 1: and Diego. So I'm gonna come back to you because

560
00:34:01,800 --> 00:34:04,320
Speaker 1: I interrupted before, but I when I cut into her, go,

561
00:34:04,440 --> 00:34:06,520
Speaker 1: I mean, you were listening to her. She was talking

562
00:34:06,560 --> 00:34:11,759
Speaker 1: about the really you know, her personal biography. What did

563
00:34:11,840 --> 00:34:16,879
Speaker 1: you hear from Senator Harris, what we've heard her say

564
00:34:16,920 --> 00:34:19,720
Speaker 1: before in the past, Um, you know, telling her life story,

565
00:34:19,840 --> 00:34:24,640
Speaker 1: which is obviously a unique one in UH presidential politics.

566
00:34:24,680 --> 00:34:27,480
Speaker 1: You know that this is an historic pick. And you know,

567
00:34:27,480 --> 00:34:29,600
Speaker 1: one of the things I've been heartened about, Kevin is

568
00:34:29,920 --> 00:34:33,080
Speaker 1: a lot of Republicans have tweeted out, UM, not the

569
00:34:33,400 --> 00:34:35,640
Speaker 1: bad things that we've seen from from like the campaign,

570
00:34:35,760 --> 00:34:39,000
Speaker 1: but say, I've got my disagreements with Kamala Harris. Let's

571
00:34:39,040 --> 00:34:42,240
Speaker 1: recognize that this is an historic moment and we should

572
00:34:42,239 --> 00:34:45,359
Speaker 1: recognize that. UM. Now we'll have a campaign where we're

573
00:34:45,360 --> 00:34:48,880
Speaker 1: gonna have some serious, scrappy fights. Unfortunately, it'll probably go

574
00:34:48,880 --> 00:34:51,800
Speaker 1: on the gut her a little bit, but where typically

575
00:34:51,840 --> 00:34:53,880
Speaker 1: I don't think that as you know, you mentioned you

576
00:34:53,920 --> 00:34:57,359
Speaker 1: were watching the Kane Pence debate. UM, this one will

577
00:34:57,400 --> 00:35:00,600
Speaker 1: be a sharper debate, no doubt. I don't think vice

578
00:35:00,600 --> 00:35:03,480
Speaker 1: presidential picks make much of a difference at the end

579
00:35:03,480 --> 00:35:05,799
Speaker 1: of the data voters, especially when Donald Trump is at

580
00:35:05,800 --> 00:35:08,240
Speaker 1: the top of that ticket, um one way or another.

581
00:35:08,840 --> 00:35:11,480
Speaker 1: But certainly Hence versus Harris is going to be a

582
00:35:11,480 --> 00:35:13,560
Speaker 1: fun one to watch. I just see and I think

583
00:35:13,560 --> 00:35:15,919
Speaker 1: that this, this vice presidential pick is going to make,

584
00:35:16,120 --> 00:35:18,359
Speaker 1: based upon my reporting and the conversations that I've had

585
00:35:18,440 --> 00:35:22,960
Speaker 1: earlier today, this is going to be a significant, significant

586
00:35:23,880 --> 00:35:26,600
Speaker 1: jolt in this race. And Kelly and Comedy was speaking

587
00:35:26,600 --> 00:35:29,480
Speaker 1: earlier today on Fox News, uh, and she was saying

588
00:35:29,520 --> 00:35:31,920
Speaker 1: that the re election campaign anticipates there to be some

589
00:35:32,000 --> 00:35:35,560
Speaker 1: type of bump in the polls uh for the biding campaign,

590
00:35:35,560 --> 00:35:38,560
Speaker 1: but then ultimately that it would dissipate. There's so much

591
00:35:38,600 --> 00:35:40,560
Speaker 1: that we don't know in terms of how these virtual

592
00:35:40,600 --> 00:35:43,520
Speaker 1: conventions are going to play. Even Laura and just watching

593
00:35:43,560 --> 00:35:45,320
Speaker 1: this and the images and I know we're on radio,

594
00:35:45,400 --> 00:35:49,759
Speaker 1: but having this on my Bloomberg television looking at the

595
00:35:49,840 --> 00:35:52,360
Speaker 1: optics of this, I mean she's speaking from behind a podium,

596
00:35:52,440 --> 00:35:57,200
Speaker 1: reading from a teleprompter with American flags. I see in

597
00:35:57,239 --> 00:36:00,680
Speaker 1: the frame five American flags behind her, and and with

598
00:36:00,760 --> 00:36:05,400
Speaker 1: a Biden for president um uh signage on the podium.

599
00:36:05,719 --> 00:36:08,920
Speaker 1: And but I'm wondering, there's no crowd, there's no crowd shots,

600
00:36:09,000 --> 00:36:11,800
Speaker 1: there's no embrace. They walked out to the podium wearing

601
00:36:11,880 --> 00:36:16,320
Speaker 1: black masks. Uh. They're being socially distant from one another,

602
00:36:16,360 --> 00:36:18,160
Speaker 1: so they're not able to embrace. They're not able to

603
00:36:18,200 --> 00:36:20,239
Speaker 1: do that. And and I'm not saying this, you know,

604
00:36:20,400 --> 00:36:22,719
Speaker 1: to to have people roll their eyes at me. But

605
00:36:22,760 --> 00:36:26,280
Speaker 1: I'm saying it because that the pageantcy, pageantry, the pop

606
00:36:26,280 --> 00:36:30,400
Speaker 1: and circumstance, Laura of these visuals is so incredibly important

607
00:36:30,640 --> 00:36:33,319
Speaker 1: to the presidential narrative that we have in our democratic

608
00:36:33,360 --> 00:36:36,120
Speaker 1: process in this country. So as we head into next

609
00:36:36,160 --> 00:36:38,640
Speaker 1: week when it's gonna be Michelle Obama, John Kasick, and

610
00:36:38,640 --> 00:36:41,520
Speaker 1: I want to ask Doug about that coming up John Kasick,

611
00:36:41,600 --> 00:36:45,080
Speaker 1: a Republican, then Bernie Sanders speaking on Monday Night in

612
00:36:45,120 --> 00:36:47,759
Speaker 1: prime time. I'm wondering if this is going to be

613
00:36:47,880 --> 00:36:52,400
Speaker 1: the optics of a muted, more sober, somber type of

614
00:36:52,680 --> 00:36:56,840
Speaker 1: communication style, Laura, I think it has to be Kevin.

615
00:36:56,960 --> 00:36:59,239
Speaker 1: And you know what it reminds me of. It reminds

616
00:36:59,239 --> 00:37:02,200
Speaker 1: me of the heart artist gig in politics and I

617
00:37:02,200 --> 00:37:05,520
Speaker 1: don't care what party you're in. Giving the response to

618
00:37:05,560 --> 00:37:09,560
Speaker 1: the state of the Union that is brilliant. Yes, you

619
00:37:09,600 --> 00:37:11,520
Speaker 1: know you should see my producer in the video chat.

620
00:37:11,560 --> 00:37:16,400
Speaker 1: She's like, yes, that's exactly what it is going interrupted. Oh,

621
00:37:16,440 --> 00:37:19,719
Speaker 1: it's just like I you know, I'm a communication specialist

622
00:37:19,760 --> 00:37:22,080
Speaker 1: and that's my focus, and I just look like, talk

623
00:37:22,160 --> 00:37:28,480
Speaker 1: about an empty room zoom is just exactly that. And

624
00:37:28,600 --> 00:37:31,600
Speaker 1: so here we have all like some of the top

625
00:37:31,680 --> 00:37:34,880
Speaker 1: democratic talents and that you're throwing a curveball with Casey.

626
00:37:35,200 --> 00:37:37,600
Speaker 1: But these are people that know how to own a room.

627
00:37:37,880 --> 00:37:44,880
Speaker 1: But how do you own a studio? How It's like

628
00:37:44,960 --> 00:37:47,640
Speaker 1: it's like and we've all seen those those uh those

629
00:37:47,760 --> 00:37:50,200
Speaker 1: articles that have come out you know, get the get

630
00:37:50,200 --> 00:37:53,080
Speaker 1: the zoom lights or whatever, the circle light, remember all that,

631
00:37:53,160 --> 00:37:55,200
Speaker 1: you know, how do you I've been reading all these

632
00:37:55,280 --> 00:37:57,800
Speaker 1: articles like, oh, how do you you know, how do

633
00:37:57,880 --> 00:37:59,960
Speaker 1: you powder your face? For I'm like, everyone's a TV

634
00:38:00,080 --> 00:38:03,120
Speaker 1: correspondent now because they have to know how to have

635
00:38:03,200 --> 00:38:05,920
Speaker 1: the lighting and how to do the backlit and all that.

636
00:38:05,960 --> 00:38:08,400
Speaker 1: I mean, now they're gonna be doing it on on

637
00:38:08,440 --> 00:38:11,520
Speaker 1: a massive virtual convention scale. Listen, Laura, I know I

638
00:38:11,520 --> 00:38:12,960
Speaker 1: gotta let you go, so I want to thank you

639
00:38:13,000 --> 00:38:15,120
Speaker 1: for coming on. That was a really smart analysis. I'm

640
00:38:15,120 --> 00:38:18,040
Speaker 1: gonna steal that, Laura Fink, Democratic strategist and founder and

641
00:38:18,080 --> 00:38:20,960
Speaker 1: CEO of Rebel Communications in San Diego. Doug's gonna stick

642
00:38:20,960 --> 00:38:22,360
Speaker 1: with me. We've got a lot more to talk about.

643
00:38:22,480 --> 00:38:25,520
Speaker 1: Why is John Kasy speaking at a democratic convention? What's

644
00:38:25,560 --> 00:38:28,200
Speaker 1: the calculus there? Download the Bloomberg Sound On podcast on

645
00:38:28,200 --> 00:38:30,759
Speaker 1: Appleagians and Bloomberg dot Com, or by downloading the Bloomberg

646
00:38:30,840 --> 00:38:34,240
Speaker 1: Business app. I'm Kevin's really chef Washington correspondent for Bloomberg

647
00:38:34,239 --> 00:38:36,720
Speaker 1: TV and Radio. This is one of my favorite songs.

648
00:38:36,760 --> 00:38:56,720
Speaker 1: You're listening to Bloomberg ninety nine one. Can you imagine

649
00:38:56,840 --> 00:39:00,239
Speaker 1: this last of the time Rocky roll who was own

650
00:39:00,360 --> 00:39:06,359
Speaker 1: people student line. I'm Kevin Surly, chief Washington correspondence from

651
00:39:06,360 --> 00:39:09,480
Speaker 1: Bloomberg Television and from Blomberg Radio, And that song right

652
00:39:09,560 --> 00:39:12,000
Speaker 1: there has gotten me through the last month. It's called

653
00:39:12,080 --> 00:39:17,080
Speaker 1: Slice Spy five for Fighting. Uh, such a good song.

654
00:39:17,160 --> 00:39:19,880
Speaker 1: Gauntlessen to it, Slice by five for Fighting. We are

655
00:39:20,080 --> 00:39:22,920
Speaker 1: just we're following multiple front tonight. Right we just heard

656
00:39:22,960 --> 00:39:26,480
Speaker 1: from Senator Kamala Harris. She made her socially distanced debut

657
00:39:27,360 --> 00:39:31,000
Speaker 1: as the Democratic on the Democratic ticket. The choice we

658
00:39:31,120 --> 00:39:33,279
Speaker 1: make this November is going to determine the future of

659
00:39:33,320 --> 00:39:36,680
Speaker 1: America for a long long time. Biden said, Kamala knows

660
00:39:36,719 --> 00:39:40,439
Speaker 1: how to govern, and uh, she went out to say.

661
00:39:40,760 --> 00:39:43,239
Speaker 1: She went on to say, quote America is crying out

662
00:39:43,280 --> 00:39:45,160
Speaker 1: for leadership, yet we have a president who cares more

663
00:39:45,200 --> 00:39:48,400
Speaker 1: about himself than the people who elected him. It was

664
00:39:48,600 --> 00:39:50,680
Speaker 1: very socially distant. I mean, just the optics of it.

665
00:39:50,800 --> 00:39:54,680
Speaker 1: It was in Wilmington, Delaware. They stood, they didn't embrace

666
00:39:54,760 --> 00:39:57,160
Speaker 1: each other. There's no photographs of them embracing. There's no

667
00:39:57,280 --> 00:39:59,160
Speaker 1: photographs of them standing next to each other. They were

668
00:39:59,239 --> 00:40:02,120
Speaker 1: nine ft apart. They were both accompanied by their spouses.

669
00:40:02,200 --> 00:40:06,640
Speaker 1: The spouses stood next to them, to their husband and

670
00:40:06,719 --> 00:40:11,279
Speaker 1: wife respectively. But Biden, but the couples were like nine

671
00:40:11,360 --> 00:40:14,240
Speaker 1: ft apart, so they didn't even walk in holding hands.

672
00:40:14,400 --> 00:40:16,839
Speaker 1: It was it was socially distant. Contrast that, of course

673
00:40:17,200 --> 00:40:21,200
Speaker 1: with what you're seeing from others, but really remarkable. They

674
00:40:21,280 --> 00:40:25,800
Speaker 1: have masks on um and it's gonna be really, you know,

675
00:40:26,200 --> 00:40:29,719
Speaker 1: interesting to see how this all plays out here with

676
00:40:29,920 --> 00:40:33,720
Speaker 1: me for the hour now as we await for President

677
00:40:33,760 --> 00:40:36,040
Speaker 1: Trump to address the nation from the podium of the

678
00:40:36,080 --> 00:40:37,959
Speaker 1: White House in the Brady Briefing Room on the daily

679
00:40:38,000 --> 00:40:40,719
Speaker 1: Coronavirus Tusk Wars Briefing, And I'll cut into that and

680
00:40:40,760 --> 00:40:43,160
Speaker 1: you can listen to that. But as Doug high, Doug

681
00:40:43,239 --> 00:40:45,759
Speaker 1: is a Republican insider, And Doug, did you have it

682
00:40:45,800 --> 00:40:48,759
Speaker 1: on in your monitor? Were you just listening to it? Um?

683
00:40:48,880 --> 00:40:50,719
Speaker 1: I had it on and then was listening to it.

684
00:40:51,920 --> 00:40:54,680
Speaker 1: But when you see them socially distant and with the masks,

685
00:40:54,760 --> 00:40:56,520
Speaker 1: I mean from you know, I mean you're in with

686
00:40:56,640 --> 00:41:00,399
Speaker 1: all of the governors and whatnot. I mean, its am

687
00:41:00,400 --> 00:41:01,920
Speaker 1: I reading too much into that? I mean, I know

688
00:41:02,080 --> 00:41:04,359
Speaker 1: voters get it that we're in a socially distant time,

689
00:41:04,520 --> 00:41:07,400
Speaker 1: but it's I don't know, it just it feels. It

690
00:41:07,520 --> 00:41:11,920
Speaker 1: feels like the energy of the swing voter is saying, Okay,

691
00:41:11,960 --> 00:41:14,520
Speaker 1: we want to be safe, but we also want to

692
00:41:14,760 --> 00:41:16,600
Speaker 1: get our lives back to letter. I don't know, I am,

693
00:41:16,680 --> 00:41:19,399
Speaker 1: I I don't know. I don't I just everybody wants

694
00:41:19,440 --> 00:41:21,440
Speaker 1: to follow the guideline. I don't know, go ahead, take

695
00:41:21,440 --> 00:41:24,279
Speaker 1: it away from me. Look, it's it's weird. Right, and

696
00:41:24,480 --> 00:41:27,560
Speaker 1: thank you. That's the better word, whether whether you're talking about,

697
00:41:27,800 --> 00:41:29,960
Speaker 1: you know, a political announcement like this or watching a

698
00:41:30,000 --> 00:41:32,320
Speaker 1: baseball game where they have stand ups of fans and

699
00:41:34,360 --> 00:41:36,600
Speaker 1: and you know, and and look, we've heard Donald Trump

700
00:41:36,680 --> 00:41:38,800
Speaker 1: say that he wants to go to events, which of

701
00:41:38,880 --> 00:41:41,560
Speaker 1: course is an irresponsible thing to do to have them,

702
00:41:41,880 --> 00:41:44,120
Speaker 1: but of course he wants to go to do events.

703
00:41:44,160 --> 00:41:48,240
Speaker 1: You know, politicians love crowd, They love people waving signs

704
00:41:48,280 --> 00:41:51,080
Speaker 1: and banners and cheering and all of that. This campaign

705
00:41:51,120 --> 00:41:54,600
Speaker 1: will not have anything like that. UM And what we've

706
00:41:54,640 --> 00:41:56,480
Speaker 1: seen in the past, and I think where it's going

707
00:41:56,520 --> 00:41:59,000
Speaker 1: to be most interesting, Kevin is and it's something I've

708
00:41:59,080 --> 00:42:03,800
Speaker 1: kind of been advocating unsuccessfully for years, is especially in

709
00:42:03,920 --> 00:42:06,560
Speaker 1: the debate that we have in the primaries, there's a

710
00:42:06,640 --> 00:42:10,480
Speaker 1: big crowd. They interrupt constantly, they're cheering their people, they're

711
00:42:10,520 --> 00:42:13,320
Speaker 1: booing the people they don't like, and I think it

712
00:42:13,400 --> 00:42:16,279
Speaker 1: often gets in the way of the debate. UM when

713
00:42:16,320 --> 00:42:19,759
Speaker 1: it's Biden versus Trump, or Harris versus pent and there's

714
00:42:19,800 --> 00:42:22,839
Speaker 1: only one or two moderators and there's no crowd, there

715
00:42:22,920 --> 00:42:25,439
Speaker 1: really is no place to run or high. This could

716
00:42:25,560 --> 00:42:28,600
Speaker 1: make the debate a much different dynamic than what we've

717
00:42:28,640 --> 00:42:31,359
Speaker 1: seen in the past. And uh, since basically, I think

718
00:42:31,440 --> 00:42:33,480
Speaker 1: Nix and Kennedy and that's going to make them very

719
00:42:33,560 --> 00:42:37,719
Speaker 1: interesting to watch and good have real repercussions, it really is,

720
00:42:37,880 --> 00:42:41,400
Speaker 1: and especially in terms of how they're going to navigate

721
00:42:41,680 --> 00:42:45,160
Speaker 1: just the optics of the room, um and whatnot. But

722
00:42:45,440 --> 00:42:47,520
Speaker 1: all right, we've talked enough about the VP pick and

723
00:42:47,560 --> 00:42:49,640
Speaker 1: the policy. We've covered all that, and we're talked about

724
00:42:49,680 --> 00:42:52,080
Speaker 1: the coronavirus. If I do want to cover I want

725
00:42:52,120 --> 00:42:54,200
Speaker 1: to add something new to the to the show because

726
00:42:54,200 --> 00:42:57,880
Speaker 1: I feel like we've been so heavy and it's important

727
00:42:57,880 --> 00:43:00,319
Speaker 1: and obviously on the coronavirus and the budgets stale, Mabel,

728
00:43:00,440 --> 00:43:03,320
Speaker 1: and and let's talk about that before we talk football,

729
00:43:03,360 --> 00:43:06,000
Speaker 1: because I do want to talk football with you. Um.

730
00:43:06,280 --> 00:43:08,759
Speaker 1: But they're at an impast. They're at this impast that

731
00:43:08,960 --> 00:43:14,400
Speaker 1: the talks have staled, have stalled, and there's still trillions

732
00:43:14,440 --> 00:43:19,280
Speaker 1: of dollars apart Doug. Speaker Pelosi rebuffed venution with relief

733
00:43:19,320 --> 00:43:21,520
Speaker 1: talks in limbo, I'm reading from the Bloomberg terminal and

734
00:43:21,600 --> 00:43:24,359
Speaker 1: this this is where we're at, how Speaker Nancy Pelosi said.

735
00:43:24,400 --> 00:43:27,600
Speaker 1: She rebuffed an overture from Treasury Secretary Stephen Manustion to

736
00:43:27,680 --> 00:43:30,320
Speaker 1: restart talks on a new round of US pandemic relief

737
00:43:30,520 --> 00:43:33,239
Speaker 1: because the White House hadn't budged from demands for a

738
00:43:33,320 --> 00:43:37,560
Speaker 1: smaller from demands for a smaller stimulus. But there's three

739
00:43:37,680 --> 00:43:39,680
Speaker 1: points that I that I'll make and this is this

740
00:43:39,800 --> 00:43:44,400
Speaker 1: is what emerges from my reporting. One is there the

741
00:43:44,560 --> 00:43:47,359
Speaker 1: left and the right there at their world's apart. I mean,

742
00:43:48,360 --> 00:43:51,279
Speaker 1: and there are a world's apart. Let's just take the

743
00:43:51,320 --> 00:43:53,400
Speaker 1: price tag, right, I mean, we we throw this around

744
00:43:53,400 --> 00:43:55,000
Speaker 1: in the media and in the Beltway press is if

745
00:43:55,040 --> 00:43:57,239
Speaker 1: it's as if it's like who's gonna pay for the

746
00:43:57,320 --> 00:44:00,440
Speaker 1: tip on Venmo? But it's not right. I mean, it's

747
00:44:00,680 --> 00:44:03,239
Speaker 1: a trillion dollars, is what the Republicans are saying. A

748
00:44:03,320 --> 00:44:06,920
Speaker 1: trillion dollars is in addition to the two trillion from

749
00:44:07,000 --> 00:44:09,320
Speaker 1: last stimulus. We've lost sight of how much money a

750
00:44:09,400 --> 00:44:12,960
Speaker 1: trillion dollars is, okay, And then you've got and I'm

751
00:44:13,000 --> 00:44:14,440
Speaker 1: not taking a position, I'm just saying there's a lot

752
00:44:14,480 --> 00:44:18,400
Speaker 1: of money. And then you've got the Democrats who are

753
00:44:18,480 --> 00:44:20,879
Speaker 1: saying three trillion at least or three and a half

754
00:44:20,960 --> 00:44:24,680
Speaker 1: trillion two trillion dollars is and I had one source

755
00:44:24,719 --> 00:44:27,560
Speaker 1: telling me this dog two trillion dollars is the size

756
00:44:27,600 --> 00:44:32,960
Speaker 1: of Apple. Okay, I mean we're not talking about I

757
00:44:33,000 --> 00:44:36,040
Speaker 1: mean the size of Apple two trillion dollars if you're

758
00:44:36,120 --> 00:44:41,200
Speaker 1: looking for specifically, like what to how to quantify this. So,

759
00:44:42,239 --> 00:44:45,239
Speaker 1: based upon my reporting for Leader McConnell, who is one

760
00:44:45,280 --> 00:44:49,920
Speaker 1: of the most political savvy minds, as his speaker Pelosi

761
00:44:50,440 --> 00:44:54,000
Speaker 1: for him to say, I don't hear him saying, you know,

762
00:44:54,360 --> 00:44:56,480
Speaker 1: I'm a hardliner here, I hear him. What I hear

763
00:44:56,560 --> 00:44:59,440
Speaker 1: him saying is this is literally the most money I

764
00:44:59,520 --> 00:45:03,160
Speaker 1: can get to deliver enough votes from Republicans. That's what

765
00:45:03,239 --> 00:45:08,920
Speaker 1: I'm interpreting. I think that's right, and and that highlights,

766
00:45:09,320 --> 00:45:11,600
Speaker 1: you know, the real goals that we see between not

767
00:45:11,760 --> 00:45:16,160
Speaker 1: just Republicans and Democrats, but to some extent, between Republicans themselves. Look,

768
00:45:16,200 --> 00:45:19,120
Speaker 1: Republicans are now and you've reported on this, Kevin, they

769
00:45:19,160 --> 00:45:23,000
Speaker 1: are now starting to look towards what is day one

770
00:45:23,239 --> 00:45:26,560
Speaker 1: post Trump Republican Party looked like. And so all of

771
00:45:26,600 --> 00:45:29,520
Speaker 1: a sudden, uh, some Republicans are starting to be more

772
00:45:29,560 --> 00:45:31,759
Speaker 1: fiscally conservative than they have been for three and a

773
00:45:31,800 --> 00:45:34,560
Speaker 1: half years. That's playing a very real role in here.

774
00:45:34,920 --> 00:45:37,719
Speaker 1: And as you as you mentioned, we're not talking about

775
00:45:37,840 --> 00:45:41,040
Speaker 1: real money here. We're talking about enormous sums of money

776
00:45:41,120 --> 00:45:44,399
Speaker 1: the size of Apple. So it's a very broad um

777
00:45:45,080 --> 00:45:48,080
Speaker 1: breach between the two. And I think it also allows Trump.

778
00:45:48,160 --> 00:45:51,480
Speaker 1: You know, Trump doesn't have many political opportunities here, but

779
00:45:51,600 --> 00:45:54,960
Speaker 1: in this one case he does by um by stepping

780
00:45:55,000 --> 00:45:56,920
Speaker 1: in with executive orders and saying, you know what, if

781
00:45:56,960 --> 00:46:00,720
Speaker 1: Congress can't get this done, and Congress is never really popular,

782
00:46:01,160 --> 00:46:03,840
Speaker 1: I'm going to step in and do something. It's Trump's

783
00:46:03,920 --> 00:46:07,160
Speaker 1: only real card that he can play here well, and

784
00:46:07,560 --> 00:46:11,239
Speaker 1: and it from the executive order perspective, I mean, that's

785
00:46:11,320 --> 00:46:14,440
Speaker 1: really what what he can do in terms of in

786
00:46:14,560 --> 00:46:16,200
Speaker 1: terms of all of that, I just think it's it's

787
00:46:16,280 --> 00:46:18,200
Speaker 1: what a sign of the times where you know, a

788
00:46:18,280 --> 00:46:20,520
Speaker 1: decade or two decades ago, if you would have said,

789
00:46:20,760 --> 00:46:23,040
Speaker 1: the cries from the public would have been, you know,

790
00:46:23,200 --> 00:46:25,719
Speaker 1: getting a room and figure this out. You just don't

791
00:46:25,800 --> 00:46:28,799
Speaker 1: come back out Democrats and Republicans until you have a deal.

792
00:46:29,160 --> 00:46:32,360
Speaker 1: But now the incentive and the political calculation is that

793
00:46:32,719 --> 00:46:34,640
Speaker 1: they don't really feel the need to do that. Am

794
00:46:34,680 --> 00:46:38,160
Speaker 1: I wrong? I mean until the middle gets loud. Um,

795
00:46:38,600 --> 00:46:41,560
Speaker 1: I'm not sure that common ground. I think common grounds

796
00:46:41,600 --> 00:46:44,759
Speaker 1: become a dirty word. Common grounds become a dirty word.

797
00:46:45,000 --> 00:46:47,200
Speaker 1: It's been a dirty word for a long time in Washington.

798
00:46:47,600 --> 00:46:50,399
Speaker 1: But as you know, Kevin, even as far as as

799
00:46:50,560 --> 00:46:52,680
Speaker 1: this is, as far apart as they are from each other,

800
00:46:53,200 --> 00:46:56,400
Speaker 1: we know that in negotiations two things, it truly is

801
00:46:56,400 --> 00:46:59,640
Speaker 1: always dark as before the dawn, and that nothing is

802
00:46:59,680 --> 00:47:03,840
Speaker 1: agreed to until everything is agreed to. Were you a

803
00:47:03,920 --> 00:47:07,960
Speaker 1: Republican or a Democrat in this situation, you know that

804
00:47:08,400 --> 00:47:12,399
Speaker 1: the voters are going to be ripped fire angry if

805
00:47:12,520 --> 00:47:15,799
Speaker 1: there can't be some solution to getting released out there. Right,

806
00:47:15,800 --> 00:47:19,040
Speaker 1: They're already angry enough that we've gotten into this position.

807
00:47:19,360 --> 00:47:22,239
Speaker 1: If we can't find a way to help stabilize the

808
00:47:22,280 --> 00:47:24,800
Speaker 1: economy in some way, there was going to be truly

809
00:47:24,880 --> 00:47:27,640
Speaker 1: held to pay for a lot of elected officials in

810
00:47:27,719 --> 00:47:31,759
Speaker 1: either party exactly. And I'm just you know, I was

811
00:47:31,800 --> 00:47:36,040
Speaker 1: talking to some sources earlier in this week. Uh, pharmacy,

812
00:47:36,480 --> 00:47:39,120
Speaker 1: the big the big pharma fight you know with PBMs.

813
00:47:39,560 --> 00:47:41,400
Speaker 1: I mean that's gonna I mean once but once the

814
00:47:41,520 --> 00:47:46,000
Speaker 1: headlines crossed it that you know, a a company finds

815
00:47:46,280 --> 00:47:49,279
Speaker 1: a vaccine. I mean, then the fight's going to start

816
00:47:49,320 --> 00:47:51,200
Speaker 1: in terms of the money and the allocation. How that's

817
00:47:51,239 --> 00:47:53,440
Speaker 1: I mean, this is not even the last fight. This

818
00:47:53,600 --> 00:47:55,920
Speaker 1: is not even half time. Speaking of half, it's not

819
00:47:56,040 --> 00:47:58,000
Speaker 1: even half time because they got because then they wanted.

820
00:47:58,600 --> 00:48:00,719
Speaker 1: The expectation up on the need is that they're going

821
00:48:00,760 --> 00:48:03,040
Speaker 1: to be more stimulus. And by the way, the expectation

822
00:48:03,080 --> 00:48:04,520
Speaker 1: in the street is that it's gonna be one point

823
00:48:04,600 --> 00:48:07,120
Speaker 1: five trillion. So anything less than one point five trillion,

824
00:48:07,160 --> 00:48:09,680
Speaker 1: which again is a lot of money. Anything less than

825
00:48:09,719 --> 00:48:12,040
Speaker 1: one point five trillion would be the market is not

826
00:48:12,120 --> 00:48:14,520
Speaker 1: gonna like that, Doug. But enough, I said, halftime, And

827
00:48:14,600 --> 00:48:16,279
Speaker 1: that was the pivot. Christine Baron keeps telling me, you

828
00:48:16,360 --> 00:48:18,320
Speaker 1: have to get better at my pivots, and how I

829
00:48:18,719 --> 00:48:22,640
Speaker 1: how I like go into my segways. I don't even know.

830
00:48:23,040 --> 00:48:28,080
Speaker 1: But but I said halftime. Football. Okay, So the Pack

831
00:48:28,160 --> 00:48:31,960
Speaker 1: twelve in the Big Ten postponed the college football season

832
00:48:32,080 --> 00:48:35,439
Speaker 1: on Tuesday, becoming the first Power five conferences to step

833
00:48:35,520 --> 00:48:38,160
Speaker 1: back from. One of the biggest cash cows in college

834
00:48:38,200 --> 00:48:44,080
Speaker 1: sports is the COVID nineteen pandemic rages. Wow, Doug, college football,

835
00:48:44,320 --> 00:48:48,440
Speaker 1: I'm a Nitney lion. Fan. Wow. Yeah, and look I

836
00:48:48,560 --> 00:48:51,080
Speaker 1: went to North Carolina. I do like the Nitney Lions.

837
00:48:51,120 --> 00:48:53,399
Speaker 1: Brandon Short is one of the all time greats from

838
00:48:53,480 --> 00:48:56,680
Speaker 1: from Penn's state. You know, I think it's interesting because

839
00:48:56,800 --> 00:49:00,120
Speaker 1: we really, you know, until recently, there have been when

840
00:49:00,160 --> 00:49:03,840
Speaker 1: we talk about education. We've really talked about opening primary schools,

841
00:49:04,120 --> 00:49:08,440
Speaker 1: but we haven't talked about our higher education and childcare.

842
00:49:08,560 --> 00:49:13,080
Speaker 1: Childcare Aware of America says with no childcare, there's no recovery. Well,

843
00:49:13,280 --> 00:49:15,520
Speaker 1: what we also know, which is true, and what we

844
00:49:15,600 --> 00:49:19,560
Speaker 1: also know is college football generates a lot of money.

845
00:49:19,680 --> 00:49:22,719
Speaker 1: And it's not just TV money because we're all at

846
00:49:22,760 --> 00:49:25,960
Speaker 1: home watching it on TV. UM. It's enormous money for

847
00:49:26,040 --> 00:49:30,440
Speaker 1: the colleges, for local businesses around, um, around those communities.

848
00:49:30,719 --> 00:49:35,200
Speaker 1: But it is also an emotional thing um for for voters.

849
00:49:35,600 --> 00:49:38,560
Speaker 1: And I think this is a real tough place for

850
00:49:38,640 --> 00:49:41,560
Speaker 1: Donald Trump to be in. If in swing states like

851
00:49:41,760 --> 00:49:45,359
Speaker 1: Michigan and in North Carolina just to pick you know too, um,

852
00:49:45,480 --> 00:49:48,640
Speaker 1: if there's not college football in in those schools and

853
00:49:48,800 --> 00:49:51,000
Speaker 1: a lot of people who would otherwise be Trump voters

854
00:49:51,080 --> 00:49:54,000
Speaker 1: are going to be scratching their heads. Why can't I

855
00:49:54,080 --> 00:49:58,080
Speaker 1: watch my football on Saturdays and going back to primary education.

856
00:49:58,719 --> 00:50:01,680
Speaker 1: That's also Friday night light, that's high school football as well.

857
00:50:01,840 --> 00:50:04,400
Speaker 1: If we don't have that, And obviously I want to

858
00:50:04,400 --> 00:50:05,840
Speaker 1: see it come back, and I want to see it

859
00:50:05,880 --> 00:50:08,160
Speaker 1: come back. And they don't have questions. I mean, but

860
00:50:08,239 --> 00:50:10,040
Speaker 1: they don't have questions. I mean and and listen, I

861
00:50:10,120 --> 00:50:12,160
Speaker 1: mean my my uncle and the Hoogi shop. He's done

862
00:50:12,200 --> 00:50:15,959
Speaker 1: in Delka for for for big for many decades, forty

863
00:50:16,000 --> 00:50:18,239
Speaker 1: plus years, right, And and this is the side of

864
00:50:18,280 --> 00:50:19,920
Speaker 1: it that doesn't that people don't know. But because in

865
00:50:20,000 --> 00:50:21,799
Speaker 1: a bloomberg and we can talk about the economy when

866
00:50:21,800 --> 00:50:23,879
Speaker 1: the Eagles are in the playoffs, that means my uncle

867
00:50:23,920 --> 00:50:26,480
Speaker 1: selim more hoges. Do you understand what I'm saying? So

868
00:50:26,960 --> 00:50:29,320
Speaker 1: you know, I'm reading from the Center Daily Times, and

869
00:50:29,960 --> 00:50:33,600
Speaker 1: which is a Central Pennsylvania paper where the local paper,

870
00:50:33,719 --> 00:50:36,640
Speaker 1: the CDT is it's known. And the headline from the

871
00:50:36,719 --> 00:50:40,120
Speaker 1: c DT is it's devastating state college area businesses leaders

872
00:50:40,200 --> 00:50:42,680
Speaker 1: react to no penn State football this season. The amount

873
00:50:42,719 --> 00:50:45,280
Speaker 1: of revenue that you just alluded to, that these small businesses,

874
00:50:45,320 --> 00:50:48,600
Speaker 1: the restaurants which have already been pumped, the pummeled, the bar,

875
00:50:48,880 --> 00:50:52,160
Speaker 1: the bars, the Hogi shops, the pizza parlors, the all

876
00:50:52,239 --> 00:50:54,560
Speaker 1: of it. I mean when you actually think the delivery people,

877
00:50:54,840 --> 00:50:57,960
Speaker 1: the uber driver, the the you know, the drivers to

878
00:50:58,120 --> 00:51:02,440
Speaker 1: to the various games and whatnot, transportation workers name it, hotels,

879
00:51:02,800 --> 00:51:05,960
Speaker 1: I mean everything, and these are the these are the

880
00:51:06,040 --> 00:51:09,040
Speaker 1: industries that were already hit the worst. But there's still

881
00:51:09,360 --> 00:51:12,120
Speaker 1: unanswered questions. Right, we don't know if there's going to

882
00:51:12,200 --> 00:51:14,680
Speaker 1: be a winter or a spring schedule. But you've tapped

883
00:51:14,680 --> 00:51:17,080
Speaker 1: into something. So there's that element to this, right. There's

884
00:51:17,160 --> 00:51:19,759
Speaker 1: there's the small business, the main street folks who are

885
00:51:19,800 --> 00:51:22,080
Speaker 1: once again gonna get whacked and punched in the gut

886
00:51:22,440 --> 00:51:25,480
Speaker 1: as a result of this, but they're and the unknown, right,

887
00:51:25,880 --> 00:51:29,239
Speaker 1: But there's this other element of higher education and this

888
00:51:29,440 --> 00:51:33,080
Speaker 1: other unfortunate inconvenient truth. And as someone who covered the

889
00:51:33,160 --> 00:51:36,680
Speaker 1: Jerry Sandusky trial as a freelance reporter and having gone

890
00:51:36,719 --> 00:51:39,960
Speaker 1: depends date and knowing the impact of Niitney lyon football

891
00:51:40,120 --> 00:51:43,600
Speaker 1: on that community, it's an inconvenient truth, which is the

892
00:51:43,719 --> 00:51:48,600
Speaker 1: relationship that Division one sports has doug high Republican strategists

893
00:51:48,719 --> 00:51:52,439
Speaker 1: in terms of funding higher education as a whole, because

894
00:51:52,480 --> 00:51:55,360
Speaker 1: when a school loses out, as the Bloomberg Terminal reports

895
00:51:55,680 --> 00:51:58,200
Speaker 1: for the u S conferences to forego a sport that

896
00:51:58,239 --> 00:52:03,279
Speaker 1: can generate more than one hundred million dollars a year

897
00:52:04,200 --> 00:52:07,960
Speaker 1: for elite programs and pull up the stats. Oftentimes, the

898
00:52:08,120 --> 00:52:11,560
Speaker 1: top paid official in a state is the head coach

899
00:52:11,800 --> 00:52:16,040
Speaker 1: of a public university's football team. So when you look

900
00:52:16,080 --> 00:52:20,000
Speaker 1: at the revenue that is tied to athletic programs, this

901
00:52:20,239 --> 00:52:25,360
Speaker 1: is a major economic story. It's a major economic story

902
00:52:25,840 --> 00:52:29,479
Speaker 1: and very directly affect affects what happens in November, because

903
00:52:29,520 --> 00:52:32,279
Speaker 1: if there's a spring football season, that means we're not

904
00:52:32,360 --> 00:52:35,640
Speaker 1: playing football in October and November, UM, and and that

905
00:52:35,719 --> 00:52:38,480
Speaker 1: will be emotional for voters, it will be economic for voters.

906
00:52:38,760 --> 00:52:40,400
Speaker 1: And by the way, back to the economics of it,

907
00:52:40,719 --> 00:52:43,840
Speaker 1: there's no guarantee, as more of a basketball fan than

908
00:52:43,880 --> 00:52:45,759
Speaker 1: I'm a football fan, that I'm going to get to

909
00:52:45,840 --> 00:52:49,600
Speaker 1: watch Duke Carolina play basketball um in the winter. And

910
00:52:49,719 --> 00:52:55,799
Speaker 1: so that further affects small businesses, hotels, and by the way,

911
00:52:55,840 --> 00:52:59,279
Speaker 1: big businesses as well. Because the networks that fork over

912
00:52:59,360 --> 00:53:01,480
Speaker 1: a lot of need to show these games, you're not

913
00:53:01,560 --> 00:53:04,080
Speaker 1: going to have that advertising residue revenue. They may have

914
00:53:04,160 --> 00:53:07,520
Speaker 1: to do some layoffs. Very broad I mean you look,

915
00:53:07,520 --> 00:53:09,319
Speaker 1: I mean, and everybody wants to know what's gonna happen

916
00:53:09,400 --> 00:53:12,120
Speaker 1: with the NFL. I mean, because you look at you know,

917
00:53:12,520 --> 00:53:15,640
Speaker 1: the top rated events at the top right, the top

918
00:53:15,760 --> 00:53:19,160
Speaker 1: rated shows, the top rated viewing programs, programs is the

919
00:53:19,200 --> 00:53:24,560
Speaker 1: work the top rated programs um uh on for according

920
00:53:24,600 --> 00:53:28,359
Speaker 1: to Nielsen, has always traditionally been dominated by NFL, by

921
00:53:28,360 --> 00:53:30,759
Speaker 1: Monday night Football, by Sunday Night Football, and of course

922
00:53:30,800 --> 00:53:35,279
Speaker 1: to Sunday games UM And so it's just remarkable to

923
00:53:35,320 --> 00:53:37,640
Speaker 1: see the economic of the economics of this. And I

924
00:53:37,719 --> 00:53:39,920
Speaker 1: get it if people aren't of sports fans, or they

925
00:53:40,000 --> 00:53:42,279
Speaker 1: don't you know, follow sports, or they're not you know,

926
00:53:43,000 --> 00:53:45,040
Speaker 1: uh a sports junky. I keep out the best I can,

927
00:53:45,160 --> 00:53:48,080
Speaker 1: especially with my my beloved Eagles. But it it's the

928
00:53:48,200 --> 00:53:50,920
Speaker 1: economics of this and it impacts. But you just mentioned

929
00:53:50,960 --> 00:53:55,000
Speaker 1: another I started very grassroots, but go broader, go macro.

930
00:53:55,280 --> 00:53:58,799
Speaker 1: Look at corporate media structures and investments that they're tied

931
00:53:58,880 --> 00:54:01,640
Speaker 1: to UM in terms of all of this, and it's

932
00:54:01,760 --> 00:54:05,440
Speaker 1: it's going to be remarkable. I mean, here in Washington,

933
00:54:05,560 --> 00:54:07,000
Speaker 1: d C. Doug, I don't know if you've been over

934
00:54:07,080 --> 00:54:09,120
Speaker 1: in Georgetown. I know you've got a great relationship with

935
00:54:09,160 --> 00:54:12,719
Speaker 1: Georgetown and in Washington, d C. I mean just over

936
00:54:12,800 --> 00:54:15,440
Speaker 1: the weekend, I was over there and you've got the

937
00:54:15,560 --> 00:54:17,279
Speaker 1: students are all back, but they're not going to be

938
00:54:17,640 --> 00:54:22,719
Speaker 1: I was grabbing a green smoothie by by dog Tag,

939
00:54:23,320 --> 00:54:28,200
Speaker 1: which I love dog Tag um, and but they they're

940
00:54:28,239 --> 00:54:30,799
Speaker 1: all back, but they can't go to class. So it's

941
00:54:30,880 --> 00:54:35,400
Speaker 1: it's it's I don't know, it's it's gonna be a mess, right, Yeah, no, absolutely,

942
00:54:35,440 --> 00:54:38,440
Speaker 1: And let me echo your your endorsement for dog Tech

943
00:54:38,520 --> 00:54:41,520
Speaker 1: Bakery in Georgetown. They are amazing and it's a real

944
00:54:41,760 --> 00:54:44,759
Speaker 1: Their story is an amazing one, and a lot of

945
00:54:44,840 --> 00:54:47,000
Speaker 1: students are back, but if you look throughout the country,

946
00:54:47,440 --> 00:54:49,480
Speaker 1: the students are still not sure what they're going to

947
00:54:49,560 --> 00:54:51,279
Speaker 1: be able to do. They haven't been given an all

948
00:54:51,400 --> 00:54:54,440
Speaker 1: clear sign or they're getting you know, mixed messages from

949
00:54:54,560 --> 00:54:57,160
Speaker 1: from their own from their own university. And in fact,

950
00:54:57,200 --> 00:54:59,240
Speaker 1: I was talking to a friend of mine who's daughter

951
00:54:59,560 --> 00:55:03,040
Speaker 1: is um returning to Apple Actian State. Some of it's

952
00:55:03,080 --> 00:55:04,600
Speaker 1: going to be in person, some of it's going to

953
00:55:04,640 --> 00:55:07,520
Speaker 1: be online. This is also an opportunity for where you

954
00:55:07,560 --> 00:55:11,400
Speaker 1: know online teaching companies like to You that specialize in

955
00:55:11,560 --> 00:55:14,680
Speaker 1: in higher education online learning you know, can can step

956
00:55:14,800 --> 00:55:17,200
Speaker 1: up and and and play a big role here because

957
00:55:17,239 --> 00:55:19,239
Speaker 1: there are a lot of question marks that parents have

958
00:55:19,719 --> 00:55:21,960
Speaker 1: and students have. And you know, if you're a college student,

959
00:55:22,320 --> 00:55:24,759
Speaker 1: you're voting age as well, and so the impact that

960
00:55:24,880 --> 00:55:27,560
Speaker 1: this can have on the elections could be enormous as

961
00:55:27,600 --> 00:55:29,560
Speaker 1: well well. And and and the headline on the boom

962
00:55:29,800 --> 00:55:33,279
Speaker 1: terminal from today, Washington's NFL team to play home games

963
00:55:33,320 --> 00:55:36,000
Speaker 1: without fans this season. So I what I still don't

964
00:55:36,000 --> 00:55:38,720
Speaker 1: get and what I really don't get that an Eagles

965
00:55:38,760 --> 00:55:41,560
Speaker 1: fan because if you go to fans is more Eagles

966
00:55:41,600 --> 00:55:46,800
Speaker 1: fans than Risks? Well there is, but but trust me,

967
00:55:46,880 --> 00:55:48,719
Speaker 1: I know that don't So I always feel bad on

968
00:55:48,840 --> 00:55:53,560
Speaker 1: this program trash talking the the Washington football they don't

969
00:55:53,560 --> 00:55:56,799
Speaker 1: have a name, so that's even weird anyway, but um,

970
00:55:57,480 --> 00:56:00,800
Speaker 1: but but but anyway, but I don't understand why the

971
00:56:00,800 --> 00:56:04,760
Speaker 1: Big ten just did decide not to to not have fans.

972
00:56:04,840 --> 00:56:08,440
Speaker 1: I truly don't understand that. Okay, switching gears as we

973
00:56:08,520 --> 00:56:10,360
Speaker 1: await just a reset here. I'm Kevin, this is a

974
00:56:10,400 --> 00:56:12,960
Speaker 1: policy and politics show. We've done way too much time

975
00:56:13,000 --> 00:56:16,920
Speaker 1: talking about football. Kevin Cirelli, Chief Washington Correspondent, from Bloomberg

976
00:56:16,960 --> 00:56:20,040
Speaker 1: Television and from Bloomberg Radio. I'm joined for the hour.

977
00:56:20,120 --> 00:56:24,680
Speaker 1: He's been so generous with his time. Um Doug High.

978
00:56:24,960 --> 00:56:29,200
Speaker 1: Doug High, of course is a Republican insider and has

979
00:56:29,239 --> 00:56:32,480
Speaker 1: worked for everyone. He was the former deputy chief of

980
00:56:32,760 --> 00:56:38,120
Speaker 1: staff for uh Eric Cantor and now is a craft

981
00:56:38,520 --> 00:56:42,920
Speaker 1: which is a huge media advisory. Get me one thing

982
00:56:42,960 --> 00:56:46,399
Speaker 1: that's on your radar? What is on your radar? Well,

983
00:56:46,480 --> 00:56:48,239
Speaker 1: what has popped up to me has been to talk

984
00:56:48,719 --> 00:56:51,680
Speaker 1: about Mark Espert and the talk that he may be

985
00:56:51,920 --> 00:56:55,080
Speaker 1: replaced after the elections. And what is striking to me

986
00:56:55,160 --> 00:56:58,239
Speaker 1: about that is remembering the reaction of a lot of

987
00:56:58,280 --> 00:57:01,839
Speaker 1: Republicans the day after election Day in two thousand six,

988
00:57:01,960 --> 00:57:05,120
Speaker 1: which was the day that Donald Rumsfeld was fired. UM.

989
00:57:05,320 --> 00:57:07,120
Speaker 1: Candidate that I was working for at the time we

990
00:57:07,239 --> 00:57:09,320
Speaker 1: lost in two thousand six was angry and said this

991
00:57:09,480 --> 00:57:12,640
Speaker 1: is the final insult. I remember a friend who worked

992
00:57:12,640 --> 00:57:15,799
Speaker 1: at the Health Appropriations Committee at the time who said

993
00:57:15,800 --> 00:57:18,000
Speaker 1: that their chairman, Jim Walsh, who was one of the

994
00:57:18,040 --> 00:57:20,640
Speaker 1: most mild mannered people you've ever met in your life,

995
00:57:21,080 --> 00:57:25,919
Speaker 1: being positively apoplectic about it, thinking that doing so after

996
00:57:26,000 --> 00:57:29,360
Speaker 1: the elections instead of before the elections might have cost

997
00:57:29,520 --> 00:57:32,720
Speaker 1: Republicans four or five seats. Um that this is being

998
00:57:32,800 --> 00:57:36,400
Speaker 1: talked about right now. Maybe this isn't what might affect

999
00:57:36,400 --> 00:57:40,040
Speaker 1: the election, but it but it really signals that a

1000
00:57:40,160 --> 00:57:43,920
Speaker 1: second Trump president, a second Trump administration, um, could be

1001
00:57:44,080 --> 00:57:46,960
Speaker 1: the same kind of revolving door of choppy water that

1002
00:57:47,040 --> 00:57:49,480
Speaker 1: we've seen for the past three and a half years.

1003
00:57:49,920 --> 00:57:52,880
Speaker 1: So explained, dig deeper into that. Why do you think

1004
00:57:52,920 --> 00:57:58,080
Speaker 1: that is? Truthfully? I Trump likes to stir things, and

1005
00:57:59,400 --> 00:58:01,080
Speaker 1: that has been a a constant of them. You know

1006
00:58:01,160 --> 00:58:04,040
Speaker 1: how many chiefs of staff has he had, Comms directors,

1007
00:58:04,440 --> 00:58:09,760
Speaker 1: press secretaries, um, you know Scusci Scaramucci really a communications director.

1008
00:58:09,840 --> 00:58:12,480
Speaker 1: It was so quick we don't really even now. Um.

1009
00:58:13,160 --> 00:58:18,480
Speaker 1: But but clearly he's reacting to UM a constant for Trump.

1010
00:58:18,760 --> 00:58:21,160
Speaker 1: If you've said something that he disagrees with, and you've

1011
00:58:21,200 --> 00:58:23,800
Speaker 1: said it publicly, you have a problem with Donald Trump.

1012
00:58:24,000 --> 00:58:28,040
Speaker 1: And Esper has tried to distance himself from the reaction

1013
00:58:28,120 --> 00:58:31,440
Speaker 1: to the protests that we saw at Lafayette Square, and

1014
00:58:31,560 --> 00:58:33,919
Speaker 1: that clearly is going to be something that Donald Trump

1015
00:58:34,040 --> 00:58:36,280
Speaker 1: is not happy about. When you say that, and you

1016
00:58:36,360 --> 00:58:38,960
Speaker 1: say that publicly, you've got a problem with the president.

1017
00:58:39,160 --> 00:58:43,400
Speaker 1: It's it's it's kind of that's remarkable, remarkable in terms

1018
00:58:43,440 --> 00:58:46,720
Speaker 1: of the dynamics of that and and where things are

1019
00:58:46,760 --> 00:58:51,120
Speaker 1: going to be to be headed. I'm focused on China.

1020
00:58:51,360 --> 00:58:55,040
Speaker 1: And again, folks were awaiting President Trump's press conference. We

1021
00:58:55,280 --> 00:58:57,840
Speaker 1: it was supposed to begin at five thirty, but we

1022
00:58:58,120 --> 00:59:01,600
Speaker 1: have not. We were He's still no signed, still no, still,

1023
00:59:01,680 --> 00:59:04,160
Speaker 1: no two minute warning. Um, actually we just got the

1024
00:59:04,200 --> 00:59:06,120
Speaker 1: two minute warning. So, but the one thing that's on

1025
00:59:06,200 --> 00:59:09,320
Speaker 1: my radar is the U. S and China trade deal.

1026
00:59:09,480 --> 00:59:13,000
Speaker 1: Larry Cudlow was speaking earlier today at a White House

1027
00:59:13,080 --> 00:59:15,600
Speaker 1: news conference, and he said that the US China Phase

1028
00:59:15,640 --> 00:59:18,040
Speaker 1: one trade deal is fine and substantially in and that

1029
00:59:18,160 --> 00:59:24,360
Speaker 1: China is substantially increasing purchases of American goods. It's interesting

1030
00:59:24,440 --> 00:59:28,880
Speaker 1: because they're scheduled to have a virtual um chat with

1031
00:59:29,160 --> 00:59:32,440
Speaker 1: their China counterparts in the coming days, and one of

1032
00:59:32,480 --> 00:59:34,600
Speaker 1: the things reportedly that China wants to talk about is

1033
00:59:34,680 --> 00:59:38,720
Speaker 1: TikTok and we Chat and whether or not the financial

1034
00:59:38,840 --> 00:59:40,520
Speaker 1: implications of that and whether or not they're going to

1035
00:59:40,560 --> 00:59:43,160
Speaker 1: be able to do business with the with the businesses

1036
00:59:43,240 --> 00:59:46,400
Speaker 1: that own TikTok and we Chat. Now, I've been told

1037
00:59:46,440 --> 00:59:49,480
Speaker 1: based upon my reporting that that wiggle room is deliberate

1038
00:59:49,720 --> 00:59:52,000
Speaker 1: because the US wants to signal that. And if you

1039
00:59:52,080 --> 00:59:54,720
Speaker 1: look at Senator Kamala Harris's record, stick with me, her, folks.

1040
00:59:55,040 --> 00:59:58,200
Speaker 1: She sponsored a bill in the Senate that would allow

1041
00:59:58,400 --> 01:00:01,880
Speaker 1: for the United it States to go after individuals in

1042
01:00:01,960 --> 01:00:08,760
Speaker 1: China who steal US foreign intellectual property from China. For show,

1043
01:00:08,760 --> 01:00:12,160
Speaker 1: anyone in China who steals US intellectual property. Senator Harris's

1044
01:00:12,200 --> 01:00:15,080
Speaker 1: bill would say that that you can go after those

1045
01:00:15,600 --> 01:00:18,680
Speaker 1: individuals in China. So that's what's all my radar um

1046
01:00:18,880 --> 01:00:22,560
Speaker 1: US China attentions and the continuing escalation of that. And

1047
01:00:22,680 --> 01:00:25,520
Speaker 1: just to reset here, Larry Cudlow, speaking of whom has

1048
01:00:25,560 --> 01:00:27,720
Speaker 1: just walked into the Brady briefing room, as as Treasury

1049
01:00:27,760 --> 01:00:32,000
Speaker 1: Secretary Stephen manution which would signal the President Trump will

1050
01:00:32,080 --> 01:00:35,280
Speaker 1: likely have some things to say, some comments to say

1051
01:00:35,920 --> 01:00:40,240
Speaker 1: about the economy, about US China relations when he steps

1052
01:00:40,320 --> 01:00:41,920
Speaker 1: up behind the mic in the Brady Briefing room. It

1053
01:00:41,960 --> 01:00:44,800
Speaker 1: has been a very busy week in domestic politics, with

1054
01:00:44,880 --> 01:00:47,200
Speaker 1: so much of the news flow coming out of Washington,

1055
01:00:47,360 --> 01:00:50,600
Speaker 1: d C and UH. And we're very grateful to have

1056
01:00:50,720 --> 01:00:54,880
Speaker 1: Doug high Uh here with US for the Hour and Doug,

1057
01:00:54,960 --> 01:00:59,320
Speaker 1: of course, is the senior vice president of Media at

1058
01:00:59,360 --> 01:01:01,760
Speaker 1: Craft Media and Digital. He is the former Deputy chief

1059
01:01:01,760 --> 01:01:05,520
Speaker 1: of Staff and former House Majority Leader to Eric cancer Um.

1060
01:01:05,840 --> 01:01:08,760
Speaker 1: Remember you can download the Bloomberg Sound on podcast on

1061
01:01:08,880 --> 01:01:12,920
Speaker 1: Apple iTunes, at Bloomberg dot com, or by downloading the

1062
01:01:12,920 --> 01:01:15,960
Speaker 1: Bloomberg Business App. You can also find me on radio

1063
01:01:16,080 --> 01:01:18,640
Speaker 1: dot com, I Heart Radio, and Spotify