1 00:00:02,360 --> 00:00:06,680 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:06,760 --> 00:00:09,440 Speaker 2: Let's keep it on trade. President Trump's tariff policy said 3 00:00:09,480 --> 00:00:11,880 Speaker 2: to impact leadership at the state level. The Commonwealth of 4 00:00:11,920 --> 00:00:14,960 Speaker 2: Virginia exporting nearly twenty two billion dollars worth of goods 5 00:00:15,000 --> 00:00:17,400 Speaker 2: abroad last year, placing it in the top half of 6 00:00:17,440 --> 00:00:20,959 Speaker 2: states and accounting for tens of thousands of jobs according 7 00:00:20,960 --> 00:00:23,520 Speaker 2: to the US government data. Joining us now the Republican 8 00:00:23,560 --> 00:00:25,799 Speaker 2: Governor of Virginia, Glenn Youngkin Company. Young Kin. 9 00:00:25,880 --> 00:00:27,080 Speaker 3: Good to see you, so great to be with you. 10 00:00:27,120 --> 00:00:28,760 Speaker 3: Thanks for having me. It's super to be back in 11 00:00:28,800 --> 00:00:31,040 Speaker 3: studio with you. So I just appreciate you making time 12 00:00:31,080 --> 00:00:31,400 Speaker 3: for well. 13 00:00:31,440 --> 00:00:33,680 Speaker 2: Thanks for dropping by. Let's talk about how exposed you 14 00:00:33,800 --> 00:00:35,800 Speaker 2: might be to this tariff perse. You've got some very 15 00:00:35,840 --> 00:00:38,879 Speaker 2: large aerospace and defense companies in the state. How are 16 00:00:38,920 --> 00:00:41,640 Speaker 2: you helping those companies and individuals that might be affected 17 00:00:41,640 --> 00:00:42,159 Speaker 2: by some of this. 18 00:00:42,400 --> 00:00:44,600 Speaker 3: In the meantime, John, I think we have to step 19 00:00:44,640 --> 00:00:48,720 Speaker 3: back first and put the current moment in the tariff 20 00:00:49,240 --> 00:00:53,280 Speaker 3: evolution in context. From while he was running all the 21 00:00:53,280 --> 00:00:55,920 Speaker 3: way up until today, President Trump has been really consistent 22 00:00:55,960 --> 00:00:58,840 Speaker 3: on the elements of his economic plan. First, he's going 23 00:00:58,880 --> 00:01:03,560 Speaker 3: to use tariffs to to reset trade balances and decades 24 00:01:03,560 --> 00:01:05,360 Speaker 3: of bad deals. He's talked about. You've heard these words 25 00:01:05,360 --> 00:01:07,840 Speaker 3: out of his mouth over and over again. Second of all, 26 00:01:07,880 --> 00:01:10,880 Speaker 3: he's going to make sure that manufacturing is reshored and 27 00:01:10,880 --> 00:01:15,199 Speaker 3: that we reinflate or reinvigorate the hollowed out middle class. Third, 28 00:01:15,560 --> 00:01:19,120 Speaker 3: we're going to re establish fiscal responsibility in Washington. Fourth, 29 00:01:19,120 --> 00:01:23,240 Speaker 3: we're going to re establish energy dominance, and finally, through deregulation, 30 00:01:23,400 --> 00:01:25,280 Speaker 3: we're going to make it even better to do business 31 00:01:25,319 --> 00:01:28,600 Speaker 3: in America. And those elements are all in motion at 32 00:01:28,640 --> 00:01:32,080 Speaker 3: the same time. The trade moment for US, in the 33 00:01:32,120 --> 00:01:35,400 Speaker 3: tariff moment for US, is also this ninety day pause, 34 00:01:35,760 --> 00:01:39,640 Speaker 3: which is giving the opportunity for deals, and every Cabinet 35 00:01:39,680 --> 00:01:43,480 Speaker 3: member has repeated there's seventy five countries in motion right now, 36 00:01:43,800 --> 00:01:46,119 Speaker 3: and I would expect that there will be some significant 37 00:01:46,120 --> 00:01:48,920 Speaker 3: trade deals struck. I do think that there will be 38 00:01:49,600 --> 00:01:52,520 Speaker 3: a level of ongoing tariffs. And the ten percent number 39 00:01:52,560 --> 00:01:54,480 Speaker 3: wasn't one picked out of a hats and they call 40 00:01:54,520 --> 00:01:58,880 Speaker 3: that the base tariff. But I'm a governor watching. But 41 00:01:59,200 --> 00:02:01,760 Speaker 3: I do expect that there will be deals cut, and 42 00:02:01,880 --> 00:02:04,160 Speaker 3: those deals, importantly will be with some of our largest 43 00:02:04,160 --> 00:02:08,560 Speaker 3: trading partners India and Japan and Korea. And so this 44 00:02:08,600 --> 00:02:11,680 Speaker 3: is what's going to happen over the next many many months. 45 00:02:11,960 --> 00:02:15,320 Speaker 3: And most importantly, I think that will bring some confidence 46 00:02:15,320 --> 00:02:18,400 Speaker 3: to the market that this reset, which has to happen 47 00:02:18,440 --> 00:02:21,600 Speaker 3: and disruption is part of a reset, will will open 48 00:02:21,680 --> 00:02:25,200 Speaker 3: up long term opportunity. Now Virginia, Virginia we're going to 49 00:02:25,280 --> 00:02:28,480 Speaker 3: We're seeing that long term opportunity every day, and that's 50 00:02:28,560 --> 00:02:32,919 Speaker 3: through our economic development pipeline. We've had an incredibly robust 51 00:02:32,919 --> 00:02:36,639 Speaker 3: three years. We've had record investment or commitments from businesses 52 00:02:36,680 --> 00:02:39,840 Speaker 3: expanding in Virginia one hundred billion dollars in three years, 53 00:02:40,200 --> 00:02:42,600 Speaker 3: by far the largest amount. In that time period, We've 54 00:02:42,600 --> 00:02:45,040 Speaker 3: seen record job growth. Virginia went from bottom third in 55 00:02:45,160 --> 00:02:47,960 Speaker 3: job growth to top three five ten every year in 56 00:02:48,040 --> 00:02:51,799 Speaker 3: job growth, and that has allowed us to run surplus 57 00:02:51,800 --> 00:02:55,080 Speaker 3: after surplus after surplus. The net of that is that 58 00:02:55,120 --> 00:02:57,640 Speaker 3: we have open jobs in Virginia, two hundred and fifty 59 00:02:57,720 --> 00:03:00,800 Speaker 3: thousand open jobs for folks to take. But on top 60 00:03:00,840 --> 00:03:04,079 Speaker 3: of that, our economic development pipeline has been as full 61 00:03:04,080 --> 00:03:07,800 Speaker 3: as it's ever been, and we're seeing businesses, international companies 62 00:03:07,880 --> 00:03:09,880 Speaker 3: want to come to the United States. We're viewed as 63 00:03:09,919 --> 00:03:11,840 Speaker 3: the top state in America for business and they want 64 00:03:11,840 --> 00:03:14,480 Speaker 3: to come to Virginia. And so that's a really good 65 00:03:14,520 --> 00:03:17,880 Speaker 3: foundation for us. As there is a period of disruption, 66 00:03:18,280 --> 00:03:20,200 Speaker 3: but I think there's a long term opportunity and I 67 00:03:20,240 --> 00:03:21,480 Speaker 3: think Virginia will really do well. 68 00:03:21,480 --> 00:03:23,440 Speaker 2: We can talk about the long term opportunity in the 69 00:03:23,440 --> 00:03:25,600 Speaker 2: fuller policy platform. Do you just want to keep it 70 00:03:25,639 --> 00:03:29,000 Speaker 2: on trade just for a moment on trade? The methodology 71 00:03:29,040 --> 00:03:30,840 Speaker 2: it does feel like was pulled from a hat in 72 00:03:30,880 --> 00:03:33,600 Speaker 2: the last few weeks, and the criticism we hear around 73 00:03:33,600 --> 00:03:36,960 Speaker 2: this table quite a lot. They will acknowledge the problem, 74 00:03:37,080 --> 00:03:39,360 Speaker 2: and they will acknowledge that the President has articulated that 75 00:03:39,400 --> 00:03:42,480 Speaker 2: consistently and well over the period of decades, not just 76 00:03:42,480 --> 00:03:45,839 Speaker 2: weeks and months. It's the remedy to that problem. At 77 00:03:45,840 --> 00:03:48,160 Speaker 2: the moment, what we hear from the bank CEOs, from 78 00:03:48,240 --> 00:03:50,760 Speaker 2: investors is this economy is drifted into a wait and 79 00:03:50,800 --> 00:03:53,240 Speaker 2: see moment that they aren't going to make those big 80 00:03:53,280 --> 00:03:55,960 Speaker 2: CAMPEC decisions until they really know the rules of the game, 81 00:03:56,160 --> 00:03:57,880 Speaker 2: the rules of the road. Do you think we'll know 82 00:03:57,960 --> 00:03:59,600 Speaker 2: the answer to that within ninety days. 83 00:04:00,040 --> 00:04:02,520 Speaker 3: We'll see a lot of clarity over the course of 84 00:04:02,560 --> 00:04:05,240 Speaker 3: the next now eighty days, I guess, or eighty two days. 85 00:04:05,360 --> 00:04:06,080 Speaker 2: Amazing camp. 86 00:04:06,600 --> 00:04:10,760 Speaker 3: But the net of it is that President Trump was 87 00:04:10,800 --> 00:04:14,840 Speaker 3: clear he's continued to be clear that in resetting bad 88 00:04:14,920 --> 00:04:19,560 Speaker 3: trade deals over the last decades and re establishing reciprocal 89 00:04:19,640 --> 00:04:24,240 Speaker 3: trade opportunities. By the way, with nations that are our allies. 90 00:04:24,960 --> 00:04:28,520 Speaker 3: China's a whole different topic. But with nations that are 91 00:04:28,560 --> 00:04:31,760 Speaker 3: our allies, we just need fair trade and we haven't 92 00:04:31,760 --> 00:04:34,640 Speaker 3: had it. And so in to reset those trade in 93 00:04:34,839 --> 00:04:37,640 Speaker 3: those reset those trade imbalances, you see him do what 94 00:04:37,720 --> 00:04:41,160 Speaker 3: he does well, which just creates space for negotiating. And 95 00:04:41,279 --> 00:04:45,160 Speaker 3: I think that's exactly what's happening when the first weekend 96 00:04:45,400 --> 00:04:49,280 Speaker 3: after April second you read in every publication that seventy 97 00:04:49,320 --> 00:04:53,520 Speaker 3: five countries had called within a day to start the negotiations, 98 00:04:53,520 --> 00:04:58,400 Speaker 3: and you've already seen those negotiations at least reported in rumor. 99 00:04:58,960 --> 00:05:00,880 Speaker 3: I think this will be this oppportunity to take a 100 00:05:00,880 --> 00:05:02,520 Speaker 3: big step in resetting hold on it. And I think 101 00:05:02,560 --> 00:05:03,640 Speaker 3: that's what the market needs to see. 102 00:05:03,720 --> 00:05:05,680 Speaker 1: Part of the problem, I think, and you know this 103 00:05:05,800 --> 00:05:08,919 Speaker 1: very well, having invested heavily as a co CEO of 104 00:05:08,960 --> 00:05:13,520 Speaker 1: Carlisle and be investing in infrastructure, which takes a long time. 105 00:05:13,800 --> 00:05:16,800 Speaker 1: There's a maturity mismatch between when some of this negotiation 106 00:05:17,000 --> 00:05:19,640 Speaker 1: is happening, when these tariffs go on, and how long 107 00:05:19,680 --> 00:05:22,160 Speaker 1: it takes to bring that investment to the United States. 108 00:05:22,360 --> 00:05:24,720 Speaker 1: There is a lack of clarity about whether those policies 109 00:05:24,760 --> 00:05:28,480 Speaker 1: will be continued in perpetuity, and it's leading to paralysis 110 00:05:28,520 --> 00:05:31,320 Speaker 1: at so many companies. What do you tell the companies 111 00:05:31,440 --> 00:05:34,240 Speaker 1: in your jurisdiction who's come to you and say, how 112 00:05:34,279 --> 00:05:37,040 Speaker 1: can I plan? How can I hire? How can I invest? 113 00:05:37,279 --> 00:05:38,080 Speaker 2: When this could change? 114 00:05:38,240 --> 00:05:40,440 Speaker 1: I don't even understand the parameters we're talking about. 115 00:05:40,640 --> 00:05:44,159 Speaker 3: Yeah, I have to disagree with you on the long 116 00:05:44,240 --> 00:05:49,599 Speaker 3: term planning because we're seeing a pipeline of economic investment 117 00:05:50,160 --> 00:05:51,919 Speaker 3: that has been as full as it's ever been. And 118 00:05:51,960 --> 00:05:56,280 Speaker 3: these are long term investments. Fortune fifty companies wanting to 119 00:05:56,640 --> 00:06:00,640 Speaker 3: build in America and in Virginia hope if we can 120 00:06:00,680 --> 00:06:04,000 Speaker 3: recruit them there. And these are long term investments. And 121 00:06:04,120 --> 00:06:07,760 Speaker 3: you saw in Nvidia yesterday talk about five hundred billion dollars. 122 00:06:07,839 --> 00:06:11,839 Speaker 3: We've seen most of the big pharmaceutical companies commit to 123 00:06:11,880 --> 00:06:15,679 Speaker 3: building in the United States. We're seeing technology investments advanced 124 00:06:15,720 --> 00:06:19,600 Speaker 3: manufacturing all in the United States. These are long term investments. 125 00:06:19,920 --> 00:06:22,520 Speaker 3: I think the difference in a lot of people's understanding 126 00:06:22,680 --> 00:06:26,039 Speaker 3: is that during market ups and downs, well, yes, IPOs 127 00:06:26,080 --> 00:06:30,520 Speaker 3: get postponed, and yes, corporate deals get postponed. But these 128 00:06:30,560 --> 00:06:35,000 Speaker 3: long term commitments are actually coming in very large numbers. 129 00:06:35,240 --> 00:06:37,719 Speaker 3: And that's good for states like Virginia. I mean, listen, 130 00:06:37,760 --> 00:06:40,719 Speaker 3: we're in the sec of economic development. I compete every 131 00:06:40,760 --> 00:06:45,040 Speaker 3: day with Tennessee and North Carolina, South Carolina, Georgia, Florida, Texas, 132 00:06:45,800 --> 00:06:48,680 Speaker 3: and we've got to compete. And I think that much 133 00:06:48,680 --> 00:06:51,120 Speaker 3: of that investment will come to this region, and that 134 00:06:51,279 --> 00:06:53,960 Speaker 3: is a long term commitment. And so the uncertainty in 135 00:06:54,000 --> 00:06:56,320 Speaker 3: the near term, yes, I get it, I understand it. 136 00:06:56,800 --> 00:06:59,800 Speaker 3: But the long term expectation that America is going to 137 00:06:59,839 --> 00:07:01,880 Speaker 3: be the best place in the world to invest is 138 00:07:01,960 --> 00:07:04,039 Speaker 3: clear and real, and that's what we're seeing in our 139 00:07:04,080 --> 00:07:05,239 Speaker 3: economic development pipeline. 140 00:07:05,279 --> 00:07:07,400 Speaker 1: There's also an issue of staffing all of this up 141 00:07:07,400 --> 00:07:09,279 Speaker 1: and how we do this. Not only is there a 142 00:07:09,320 --> 00:07:12,120 Speaker 1: maturity mismatch, but also potentially a skills mismatch. And I 143 00:07:12,120 --> 00:07:15,280 Speaker 1: know that your state has been significantly affected by some 144 00:07:15,320 --> 00:07:17,400 Speaker 1: of the DOGE cuts and you've talked about that and 145 00:07:17,440 --> 00:07:20,400 Speaker 1: how you plan to provide for some of these workers. 146 00:07:20,440 --> 00:07:23,920 Speaker 1: But how do you reskill people to work for different 147 00:07:23,960 --> 00:07:26,480 Speaker 1: types of jobs given that they've worked in a very 148 00:07:26,520 --> 00:07:28,680 Speaker 1: specific field and there might not be jobs in that 149 00:07:28,720 --> 00:07:31,080 Speaker 1: field and what we're trying to build up hasn't been 150 00:07:31,120 --> 00:07:32,240 Speaker 1: there for a long time. 151 00:07:32,560 --> 00:07:37,840 Speaker 3: Well, first, you go to work and prepare an education 152 00:07:38,120 --> 00:07:40,720 Speaker 3: and training ecosystem to do exactly that. And we've been 153 00:07:40,720 --> 00:07:43,440 Speaker 3: doing this for the last three years in Virginia, which 154 00:07:43,480 --> 00:07:48,000 Speaker 3: is resetting the career pass and the education pass for 155 00:07:48,120 --> 00:07:52,080 Speaker 3: lots of Virginians with opportunity. And today we have an 156 00:07:52,120 --> 00:07:56,080 Speaker 3: incredibly high labor participation rate. It's bounced back from lows 157 00:07:56,240 --> 00:07:58,520 Speaker 3: during the pandemic and the previous administration to near one 158 00:07:58,560 --> 00:08:00,880 Speaker 3: of the national highs. We have one of the best 159 00:08:00,920 --> 00:08:03,600 Speaker 3: workforce training programs in America. We were just named for 160 00:08:03,640 --> 00:08:05,560 Speaker 3: the third year in a row of having the best 161 00:08:05,680 --> 00:08:08,760 Speaker 3: customized job training program in America. This is what you do. 162 00:08:08,840 --> 00:08:11,760 Speaker 3: You go to work. I do think that the expectation 163 00:08:11,960 --> 00:08:13,880 Speaker 3: that there will be job losses, particularly out of the 164 00:08:13,880 --> 00:08:17,000 Speaker 3: federal government, is real. We haven't seen them yet that 165 00:08:17,120 --> 00:08:19,600 Speaker 3: much in Virginia. I mean, our first time claims and 166 00:08:19,680 --> 00:08:23,640 Speaker 3: unemployment are still at historic lows. But listen, I do 167 00:08:23,720 --> 00:08:27,920 Speaker 3: think that the federal government downsizing is necessary. Listen, we're running. 168 00:08:28,080 --> 00:08:30,120 Speaker 3: We're at thirty seven and a half trillion dollars a debt, 169 00:08:30,120 --> 00:08:32,920 Speaker 3: two trillion dollars a year of incremental debt. We can't 170 00:08:32,920 --> 00:08:37,679 Speaker 3: do that, and so resizing the federal government and recognizing 171 00:08:37,720 --> 00:08:40,920 Speaker 3: fiscal responsibility is critical to the future of the country 172 00:08:41,040 --> 00:08:43,400 Speaker 3: is real. What does that mean in a state like Virginia. 173 00:08:43,440 --> 00:08:45,679 Speaker 3: We have a lot of federal workers a lot now. 174 00:08:45,920 --> 00:08:48,640 Speaker 3: A disproportionate amount of those are in the defense and 175 00:08:48,960 --> 00:08:51,360 Speaker 3: in the intelligence and national security area, and we're seeing 176 00:08:51,400 --> 00:08:54,160 Speaker 3: more money go into those areas. But I still expect 177 00:08:54,200 --> 00:08:57,280 Speaker 3: that there will be real disruption for some folks in Virginia. 178 00:08:57,400 --> 00:08:59,400 Speaker 3: My dad lost his job twice when I was growing up, 179 00:09:00,080 --> 00:09:02,880 Speaker 3: seen this in families my own, and it is really hard. 180 00:09:03,280 --> 00:09:05,920 Speaker 3: And that's why a pathway to a new career is 181 00:09:05,960 --> 00:09:09,040 Speaker 3: so important. Because of our economic growth, we have two 182 00:09:09,120 --> 00:09:13,320 Speaker 3: hundred and fifty thousand open but unfilled jobs in Virginia, 183 00:09:13,720 --> 00:09:16,600 Speaker 3: and over one hundred thousand of those require a bachelor's degree. 184 00:09:16,600 --> 00:09:18,880 Speaker 3: These are good jobs, but there are also jobs that 185 00:09:19,000 --> 00:09:22,360 Speaker 3: pay well, and so opening up that pathway to folks 186 00:09:22,400 --> 00:09:26,079 Speaker 3: who find themselves with job loss is really really important, 187 00:09:26,080 --> 00:09:29,199 Speaker 3: and so we launched something called Virginia has Jobs and 188 00:09:29,480 --> 00:09:31,840 Speaker 3: it's for folks to get jobs in Virginia from all 189 00:09:31,880 --> 00:09:34,200 Speaker 3: over the country, but at a time when we're seeing 190 00:09:34,200 --> 00:09:37,480 Speaker 3: this dislocation from the federal government. It's a real opportunity 191 00:09:37,520 --> 00:09:42,360 Speaker 3: pathway two hundred and fifty thousand jobs, pathways for training, coaching, 192 00:09:42,800 --> 00:09:45,720 Speaker 3: resume writing, but also for making sure folks on how 193 00:09:45,720 --> 00:09:48,079 Speaker 3: to file for unemployment and keep their health care. This 194 00:09:48,120 --> 00:09:51,160 Speaker 3: is a pathway that I'm really hoping that people who 195 00:09:51,200 --> 00:09:53,640 Speaker 3: do have job disruption can find a way to a 196 00:09:53,720 --> 00:09:57,320 Speaker 3: great career in Virginia because Virginia has lots and lots 197 00:09:57,360 --> 00:09:59,360 Speaker 3: of jobs, and people can go to Virginia has Jobs 198 00:09:59,400 --> 00:10:02,439 Speaker 3: dot com and actually find one. And that's part of 199 00:10:02,520 --> 00:10:07,760 Speaker 3: I think this movement of really public sector employment to 200 00:10:07,800 --> 00:10:10,800 Speaker 3: private sector employment, and we've seen it in Virginia. We've 201 00:10:10,840 --> 00:10:13,120 Speaker 3: had great job growth over the last three years. It's 202 00:10:13,200 --> 00:10:16,360 Speaker 3: led to record surplus after surplus after surplus, which has 203 00:10:16,400 --> 00:10:19,280 Speaker 3: allowed us to reduce taxes. It's allowed us to invest 204 00:10:19,320 --> 00:10:22,000 Speaker 3: in education and law enforcement, and by the way, in 205 00:10:22,080 --> 00:10:25,640 Speaker 3: economic development and job training. But it's also I think 206 00:10:25,800 --> 00:10:28,480 Speaker 3: changed people's view of long term In Virginia. We used 207 00:10:28,520 --> 00:10:31,160 Speaker 3: to have for ten years we had more people move 208 00:10:31,200 --> 00:10:33,560 Speaker 3: away from the Commonwealth of Virginia than move into from 209 00:10:33,600 --> 00:10:36,120 Speaker 3: the other forty United States. And last year we became 210 00:10:36,160 --> 00:10:39,000 Speaker 3: one of the top importers of talent in America. So 211 00:10:39,440 --> 00:10:42,720 Speaker 3: this works, and at a time when President Trump again 212 00:10:42,880 --> 00:10:46,560 Speaker 3: is trying to run a very very full policy agenda 213 00:10:46,720 --> 00:10:51,800 Speaker 3: resetting trade, balancing the federal budget, of making America dominant 214 00:10:51,800 --> 00:10:56,520 Speaker 3: again and energy, restoring manufacturing, and restoring this middle class 215 00:10:56,600 --> 00:10:59,200 Speaker 3: what has been what's been eviscerated over the last twenty years, 216 00:10:59,200 --> 00:11:01,600 Speaker 3: and doing all of that while deregulating to make America 217 00:11:01,600 --> 00:11:03,640 Speaker 3: even a better place for a business. I think we 218 00:11:03,640 --> 00:11:05,480 Speaker 3: can look at Virginia and say, hey, we've seen at 219 00:11:05,559 --> 00:11:07,839 Speaker 3: least a little microcosm of that, and it works. 220 00:11:08,240 --> 00:11:11,120 Speaker 2: Governor, the stakes are high, and please you mentioned your 221 00:11:11,480 --> 00:11:15,000 Speaker 2: experience growing gup. You like me, we were professional dishwashers. 222 00:11:15,160 --> 00:11:17,640 Speaker 2: You went on to have a fantastic career leading Carlisle, 223 00:11:17,679 --> 00:11:20,400 Speaker 2: and now you're dedicating yourself to public service. There are 224 00:11:20,440 --> 00:11:23,360 Speaker 2: now people much younger than us who believe that dream 225 00:11:23,440 --> 00:11:26,000 Speaker 2: is not available to them. The upward mobility is no 226 00:11:26,080 --> 00:11:29,200 Speaker 2: longer something available in the United States, and at the moment, 227 00:11:29,280 --> 00:11:33,400 Speaker 2: as you know, filling stadiums around this country, as left 228 00:11:33,440 --> 00:11:39,760 Speaker 2: wing people like Congresswoman Ocasio Cortez Senator Bernie Sanders. If 229 00:11:39,800 --> 00:11:43,520 Speaker 2: this administration gets this wrong, we could see a swing 230 00:11:43,880 --> 00:11:45,720 Speaker 2: in the pendulum all the way to the far left. 231 00:11:45,720 --> 00:11:48,199 Speaker 2: It's not unthinkable. You can see that taking place. How 232 00:11:48,280 --> 00:11:52,200 Speaker 2: high are the stakes. What happens if this administration screws 233 00:11:52,240 --> 00:11:53,640 Speaker 2: it up, well. 234 00:11:53,800 --> 00:11:57,400 Speaker 3: First and foremost don't believe they will. And therefore I 235 00:11:57,400 --> 00:11:59,480 Speaker 3: think what people will see over the course of this 236 00:11:59,520 --> 00:12:04,040 Speaker 3: administry is the realization of this long term opportunity. And 237 00:12:04,080 --> 00:12:07,000 Speaker 3: that's why all of the elements that in play are critical. 238 00:12:07,280 --> 00:12:09,760 Speaker 3: You know, there are so many people in government who 239 00:12:09,840 --> 00:12:12,920 Speaker 3: believe there's one policy solution, this magic wand that will 240 00:12:12,960 --> 00:12:18,240 Speaker 3: fix everything. This is an incredibly complex economic transition model, 241 00:12:18,600 --> 00:12:21,000 Speaker 3: and that's why having all of the elements in play 242 00:12:21,040 --> 00:12:25,200 Speaker 3: at one time, while complicating, is critical because they're each 243 00:12:25,240 --> 00:12:28,280 Speaker 3: going to contribute for the long term success. And if 244 00:12:28,280 --> 00:12:32,000 Speaker 3: you peel out one energy dominance, listen, getting energy prices 245 00:12:32,040 --> 00:12:35,080 Speaker 3: to a place where they're sustainably affordable at the gas 246 00:12:35,160 --> 00:12:38,960 Speaker 3: pump and in the supply chains. Critical America should basically 247 00:12:39,000 --> 00:12:41,720 Speaker 3: dominate the world of power and energy. Making sure we 248 00:12:41,800 --> 00:12:45,040 Speaker 3: have a balanced fiscal moment, not running two trillion dollar 249 00:12:45,120 --> 00:12:50,800 Speaker 3: deficits critical for the long term success of America. Reshoring, manufacturing, 250 00:12:50,800 --> 00:12:53,520 Speaker 3: and think about what's happened over the last decades where 251 00:12:53,600 --> 00:12:57,800 Speaker 3: we watched critical, very high paying jobs move around the 252 00:12:57,840 --> 00:13:00,800 Speaker 3: world away from America and hollow out our middle class. 253 00:13:01,080 --> 00:13:04,360 Speaker 3: That's the opportunity that has really been missing because we've 254 00:13:04,400 --> 00:13:08,400 Speaker 3: seen literally the middle class not participate in the economic 255 00:13:09,480 --> 00:13:12,080 Speaker 3: growth of America over the past few decades. This is 256 00:13:12,120 --> 00:13:14,840 Speaker 3: what is this opportunity is all about. And I've said 257 00:13:14,880 --> 00:13:16,640 Speaker 3: many times, I think the number one job we have 258 00:13:16,679 --> 00:13:19,880 Speaker 3: as Americans is to help this administration be successful and 259 00:13:20,160 --> 00:13:23,680 Speaker 3: that success will translate into an even better America than 260 00:13:23,720 --> 00:13:24,120 Speaker 3: we have today. 261 00:13:24,240 --> 00:13:26,480 Speaker 2: We said it around this Tyito. We hope they are 262 00:13:26,760 --> 00:13:29,680 Speaker 2: just the final question, what's the future of company? Young kid? 263 00:13:29,800 --> 00:13:30,760 Speaker 2: What you want to do next? 264 00:13:31,120 --> 00:13:34,319 Speaker 3: Well, I finish up next January, and I just want 265 00:13:34,360 --> 00:13:38,280 Speaker 3: to begin by saying this has been the most purposeful 266 00:13:38,360 --> 00:13:41,040 Speaker 3: moment in my entire professional career, and I've loved it, 267 00:13:41,720 --> 00:13:44,400 Speaker 3: and I want to make sure this last year is 268 00:13:44,640 --> 00:13:48,360 Speaker 3: incredibly productive for Virginia. Listen, you only get four years 269 00:13:48,480 --> 00:13:50,760 Speaker 3: in a governor's job in Virginia, and I've got one 270 00:13:50,840 --> 00:13:52,319 Speaker 3: year left, and I got to get four years of 271 00:13:52,360 --> 00:13:54,280 Speaker 3: work done in this year because we've had a great 272 00:13:54,320 --> 00:13:55,920 Speaker 3: first three years, and I want to get a second 273 00:13:56,000 --> 00:14:00,480 Speaker 3: term jammed into this last year. But I also wreckonognize 274 00:14:00,720 --> 00:14:04,000 Speaker 3: that there are a lot of folks who spend all 275 00:14:04,000 --> 00:14:05,959 Speaker 3: their time planning for their next job. I'm not one 276 00:14:05,960 --> 00:14:08,160 Speaker 3: of those folks. I'm going to spend one hundred percent, 277 00:14:08,200 --> 00:14:10,000 Speaker 3: if not one hundred and fifty percent, of my effort 278 00:14:10,360 --> 00:14:13,120 Speaker 3: making sure that Virginia continues to thrive. We've got a 279 00:14:13,120 --> 00:14:16,160 Speaker 3: really important election this year. Our lieutenant governor wins some 280 00:14:16,200 --> 00:14:19,200 Speaker 3: Earl Sears has been a great partner for me through 281 00:14:19,240 --> 00:14:21,680 Speaker 3: this entire economic revival in Virginia, and I want to 282 00:14:21,680 --> 00:14:24,560 Speaker 3: make sure that she gets the baton. I think voters 283 00:14:24,600 --> 00:14:26,760 Speaker 3: will trust us and trust her and want to elect 284 00:14:26,800 --> 00:14:29,080 Speaker 3: her the next governor of Virginia. And then we'll decide 285 00:14:29,080 --> 00:14:31,760 Speaker 3: what I do. After I've watched her be inaugurated. 286 00:14:31,320 --> 00:14:33,480 Speaker 2: Young convents twenty eight, I'll watch. 287 00:14:33,520 --> 00:14:36,960 Speaker 3: I'll decide when I after I'm done in January twenty twenty. 288 00:14:37,080 --> 00:14:38,440 Speaker 2: That's its trank, Goven. It's good to see it. 289 00:14:38,560 --> 00:14:40,240 Speaker 3: I will, I will, I will repeat, though, the most 290 00:14:40,240 --> 00:14:42,560 Speaker 3: important thing that we need to be doing right now 291 00:14:42,720 --> 00:14:46,400 Speaker 3: is to be helping this administration be successful, and I 292 00:14:46,440 --> 00:14:49,560 Speaker 3: think the elements are in place. It is a complicated 293 00:14:49,600 --> 00:14:51,880 Speaker 3: set of movements in order to reset so many things 294 00:14:51,920 --> 00:14:54,720 Speaker 3: at one time, but I have great faith that the 295 00:14:54,760 --> 00:14:57,160 Speaker 3: long term opportunities really are going to be great, and 296 00:14:57,200 --> 00:14:59,280 Speaker 3: we're seeing that in companies who are investing all across 297 00:14:59,320 --> 00:15:00,320 Speaker 3: Virginia and America. 298 00:15:00,160 --> 00:15:01,560 Speaker 2: For the good of this country. I think a lot 299 00:15:01,600 --> 00:15:03,880 Speaker 2: of people agree with you. They hope, we hope you're right. 300 00:15:03,960 --> 00:15:05,800 Speaker 2: Thank you, Governor. I appreciate your time. Thank you, sir, 301 00:15:06,360 --> 00:15:09,040 Speaker 2: the Virginia Governor Glenn Younkin there, thank you very much.