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Speaker 1: Bloomberg Audio Studios, podcasts, radio news. You're listening to the

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Speaker 1: Bloomberg Balance of Power podcast. Catch Just Live weekdays at

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Speaker 1: noon Eastern on Applecarplay and then Roudo with the Bloomberg

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Speaker 1: Business app. Listen on demand wherever you get your podcasts,

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Speaker 1: or watch us live on YouTube.

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Speaker 2: Here on the Friday edition of Ballots of Power. You

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Speaker 2: made it to the threshold of the weekend. And we

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Speaker 2: do have news with our eyes on the campaign lot

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Speaker 2: to talk about today. We say that every day and yes, Charlie,

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Speaker 2: at the end of each week we say what a

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Speaker 2: week that's going to be the case straight through the election?

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Speaker 2: Dare I say the rest of the year and beyond.

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Speaker 2: Donald Trump's in California Ask yourself why it's not on

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Speaker 2: the list of swing states. But he will resolve his

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Speaker 2: day in Las Vegas, which very much is a late

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Speaker 2: rally ten pm Eastern for Trump in Vegas. The Democratic

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Speaker 2: ticket focused on swing states today, laser focus on the

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Speaker 2: Blue Wall for Kamala Harris Johnstown, Pennsylvania today, then onto

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Speaker 2: Wilke's bar or Barry, depending on who you ask. Jonathan

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Speaker 2: Tomorrow will give us a lesson and Tim Walls making

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Speaker 2: his way through Michigan and Wisconsin today. You can write

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Speaker 2: this stuff before I tell you where they are. This

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Speaker 2: is what it's going to be for the next eight weeks,

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Speaker 2: of course, as we consider the idea of whether we'll

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Speaker 2: have another debate. And here in Washington, it just got

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Speaker 2: real quiet. Did you just sail right into work today?

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Speaker 2: They're gone again. The House and Senate left town last

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Speaker 2: night without a plan to fund the government, which will

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Speaker 2: run out of money on September thirtieth. So they came

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Speaker 2: back this week, they got nothing done, and they went home.

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Speaker 2: Jonathan Tomorrow covers Congress for a living at Bloomberg Government,

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Speaker 2: and he's with us right now.

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Speaker 3: Jonathan.

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Speaker 2: This is a familiar feeling, not only watching everyone leave

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Speaker 2: with no progress, but also staring down the bear of

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Speaker 2: a shutdown that I keep hearing isn't going to happen.

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Speaker 3: What can you tell us?

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Speaker 4: Yeah, like you just said, there wasn't much progress this week.

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Speaker 4: There was very little hook to note that actually happened

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Speaker 4: in the Capitol. You know they were back from recess,

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Speaker 4: but you couldn't necessarily tell. But still there is a

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Speaker 4: still feeling, there's this tension that there is the election

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Speaker 4: writer around the corner about At the same time, that

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Speaker 4: almost diffuses the tension because there's a belief that no

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Speaker 4: party leader is going to bring their party into a

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Speaker 4: shutdown this close to election day, with so many races

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Speaker 4: still in the balance, there's a feeling that eventually they'll

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Speaker 4: get to a compromise and it'll be a short term

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Speaker 4: spending resolution that lasts into some time into December.

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Speaker 2: Does this debate jeopardize potentially billions of dollars in federal

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Speaker 2: disaster relief funds? I know Senator Brian Schatz is pretty

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Speaker 2: worried about that. The Democrat from Hawaii, of course calling

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Speaker 2: for help in life where the wildfire took place, But

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Speaker 2: we are in the middle of a hurricane season right now.

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Speaker 3: Jonathan. Is this a problem?

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Speaker 5: Yeah, I mean it's a problem that Democrats are pointing

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Speaker 5: to that if you just continue the current spending levels,

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Speaker 5: then you're not gonna put in the money that the

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Speaker 5: additional money that could be needed to deal with disasters

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Speaker 5: that come along the way, that hurricanes and other natural disasters.

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Speaker 5: And it's one of several items where Democrats are saying, look,

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Speaker 5: if you just keep the government running on its current levels,

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Speaker 5: you know we're not providing some of the things that

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Speaker 5: are needed to there, renew programs that are set to expire,

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Speaker 5: or things like these disasters. So that's one of their

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Speaker 5: main talking points about why they are arguing against a

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Speaker 5: six month resolution that Speaker Mike Johnson has proposed, just

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Speaker 5: say that it would leave the government on autopilot too long.

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Speaker 2: Well, so if we kick the can you know, three months,

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Speaker 2: six months, I don't know what the duration ends up

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Speaker 2: being here, can you count on then a supplemental request,

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Speaker 2: an emergency funding request for disaster relief, maybe even a

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Speaker 2: supplemental for the Pentagon and the lame duck session.

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Speaker 5: Yeah, I mean it's possible they could try to attach

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Speaker 5: it to a short term bill that passes this month,

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Speaker 5: but certainly at the end of the year. There's a

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Speaker 5: long tradition, as you know, of the Christmas time kind

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Speaker 5: of leading towards compromises. A lot of lawmakers have already

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Speaker 5: are retiring or they've lost their reelections. Everybody in the

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Speaker 5: building is more or less looking to get home for

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Speaker 5: the holidays, and it suddenly motivates people to maybe cut

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Speaker 5: some deals and reach agreements. And there's a bunch of

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Speaker 5: must pass things that always pile up at the end

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Speaker 5: of the year, this spending bill would be another one

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Speaker 5: that would get added to it, and it tends to

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Speaker 5: grease the wheels when everybody knows that there's a lot

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Speaker 5: that has to get done and little time to do it,

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Speaker 5: or else they end up staying here for Christmas and

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Speaker 5: New Year's.

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Speaker 2: Well, Jonathan, I know you're also working the campaign trail

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Speaker 2: and covering a lot of really important races. You might

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Speaker 2: have seen what Cook had to say about Montana overnight.

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Speaker 2: In fact, Jessica Taylor is going to be on right

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Speaker 2: after our conversation here. How many races are you looking

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Speaker 2: at that are going to decide who controls the Senate

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Speaker 2: following this cycle, I.

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Speaker 5: Mean the Senate. There's probably a good half dozen races

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Speaker 5: that are potentials, but the ones that are really at

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Speaker 5: the top are the Montana Senate race that you just mentioned,

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Speaker 5: in the Ohio Senate race with Senator Shared Brown defending

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Speaker 5: that seat as a Democrat. Those are really the two

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Speaker 5: biggest ones where those are pretty red states and Republicans

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Speaker 5: have a strong chance of winning. If they don't win

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Speaker 5: those states, then then that's almost a political disaster for Republicans.

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Speaker 5: But they're favored to certainly win Montana, possibly win Ohio,

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Speaker 5: and then after that it gets tougher for Republicans. Democrats

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Speaker 5: are still playing defense just about everywhere else, but they

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Speaker 5: have some pretty tested incumbents in states that are either

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Speaker 5: slightly blue leaning or pretty right down the middle. But

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Speaker 5: you know, Pennsylvania, Wisconsin, Nevada all have potentially tough races,

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Speaker 5: but those are just less difficult Horaine for Democrats in

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Speaker 5: Ohio or Montana.

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Speaker 2: Bloomberg Government's Congress reporter Jonathan Tomorrow, Jonathan, it's great to

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Speaker 2: see you.

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Speaker 3: Thank you so much for the insights here.

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Speaker 2: This is why so many people are talking about the

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Speaker 2: likelihood of a Republican Senate and maybe a Democratic House.

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Speaker 3: Maybe they both flip in this cycle.

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Speaker 2: The note that dropped from the Cook political report, though,

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Speaker 2: is what people are talking about today in Washington. Jessica

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Speaker 2: Taylor writes, quote, Republicans are now an even heavier favorite

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Speaker 2: to win back control of the Senate, regardless of the

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Speaker 2: results at the top of the ticket. That's the important

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Speaker 2: take here. And yeah, we're looking at Montana specifically. As

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Speaker 2: Cook moves the state, this Senate race from toss up

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Speaker 2: to lean r. This is the Senator John Tester race

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Speaker 2: of course, running for his political life here against Republican

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Speaker 2: Tim Sheehey, I'm glad to say that Jessica Taylor is

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Speaker 2: with us right now from Cook Senate and Governor's editor

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Speaker 2: at the Cook Political Report. Jessica, it's been way too long.

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Speaker 2: Congratulations on driving the conversation today. I'm just curious to

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Speaker 2: hear your rationale on this race in Montana.

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Speaker 6: Why well, I think it's just the math eventually catches

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Speaker 6: up with you in some of these really red stays.

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Speaker 6: As Jonathan was saying, you have Democrats are essentially playing

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Speaker 6: defense everywhere, but nowhere more so than I think in

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Speaker 6: Montana and Ohio. You know, if we're looking at where

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Speaker 6: the Senate stands right now, Democrats have a fifty one

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Speaker 6: to forty nine majority, but we have to remember that

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Speaker 6: with West Virginia with Joe Manchin retiring, that seat is

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Speaker 6: going to go Republican. So we start at fifty to fifty.

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Speaker 6: So even if Trump were to win reelection when another term,

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Speaker 6: then Republicans would control that with breaking with the Vice

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Speaker 6: president breaking the tie. But with Montana moving in that direction,

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Speaker 6: we have seen pulling out in the past month or

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Speaker 6: so that has shown his Republican challenger, former Navy Seal

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Speaker 6: Tim Sheehey, opening up a slight lead. But more importantly,

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Speaker 6: when I'm talking with sources in the state, it's just

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Speaker 6: that Tester he's sort of been their white whale. You know,

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Speaker 6: he was elected in two thousand and six in the

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Speaker 6: Democratic wave when they took back the Senate, defeated Republican

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Speaker 6: Senator of Conrad Burns. They've run against him in twelve,

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Speaker 6: they've run against him in eighteen with arguably weaker candidates

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Speaker 6: than they have right now, and they've never sort of

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Speaker 6: been able to get him underwater, while his favorables at

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Speaker 6: this point are underwater.

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Speaker 5: And I think, just look at this.

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Speaker 6: It's the six It's a state that Trump won by

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Speaker 6: sixteen points, and in a presidential year, I think this

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Speaker 6: where midterm euro would get a different conversation like when

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Speaker 6: Tester was able to win in twenty eighteen. In twenty twelve,

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Speaker 6: when Obama was atop the ticket, it's a state that

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Speaker 6: he won by thirteen and while Tester ran ahead of

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Speaker 6: the ballot by seven points, running ahead by double digits

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Speaker 6: this time, I think is just that much.

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Speaker 3: Harder interesting to hear you talk about Montana.

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Speaker 2: Maybe you can speak to why Kamala Harris at the

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Speaker 2: top of the ticket does not move this race the

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Speaker 2: way it might be other down ballot races.

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Speaker 6: I think it's just that Montana just becomes a rheter

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Speaker 6: and redder state. I mean, she's not going to be

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Speaker 6: playing there like they are in other states. And I

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Speaker 6: think that it's just fundamentally you know, another difference I

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Speaker 6: think is that you've seen a lot more conservative people

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Speaker 6: moving into the state from sort of seeking more of

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Speaker 6: a conservative refuge from places.

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Speaker 5: Like California, Oregon, and Washington.

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Speaker 6: They refer to them as sort of the cows moving

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Speaker 6: in in fact, and you know, Tester's really underscoring that

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Speaker 6: he's been there for generations. But when he was elected

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Speaker 6: in two thousand and six, over half of Montana's were

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Speaker 6: native Montana's. Now that's a little over a third, So

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Speaker 6: you know, he sort of hits shee he is being

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Speaker 6: in authentically Montana, not you know, sort of a dude rancher,

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Speaker 6: not a real rancher. But I think with again people

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Speaker 6: moving into the state, I think just those Montana roots

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Speaker 6: don't matter as much as they once did.

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Speaker 2: Well, they used to call George W. Bush's I think

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Speaker 2: it was the first lady call him a windshield cowboy.

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Speaker 2: So you mentioned Joe Manchon of West Virginia. Boy, you know,

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Speaker 2: Democrats just can't seem to shake Joe mansion. He's of

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Speaker 2: course left the party and independent now and he's weighing

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Speaker 2: in on the race Maryland, which Cook of course rates

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Speaker 2: as likely d that's Angela also Brooks. If you live

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Speaker 2: around Washington, boy, you can't hide from these ads, from

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Speaker 2: either of them. So Joe Manchin Back's governor, Larry Hogan,

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Speaker 2: the Republican in the state of Maryland.

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Speaker 3: Does it matter who's this for?

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Speaker 6: I mean that does overlap was sort of the western

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Speaker 6: Maryland media market there into West Virginia, but I think

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Speaker 6: that's a more conservative area of Maryland.

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Speaker 3: Really.

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Speaker 6: I think what also Brooks has to do is this

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Speaker 6: is where she is incredibly helped by the top of

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Speaker 6: the ticket. We talked about just the lean that you

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Speaker 6: have to overcome and a Trump plus sixteen state, well,

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Speaker 6: Maryland is a Trump is a Biden plus thirty three state.

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Speaker 6: So Larry Hogan would have to pull off just an

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Speaker 6: even bigger feat than John Tester would. Granted this as

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Speaker 6: an open seat, and yes, he's one state wide before

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Speaker 6: is governor. But fundamentally, voters look at a vote for

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Speaker 6: governor and a vote for vote for Senate very differently,

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Speaker 6: and you can see that in the ads that also

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Speaker 6: Brooks and Democrats are running underscoring that. Okay, you may

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Speaker 6: have liked Larry Hogan, he would be a vote for

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Speaker 6: Republican and a Republican controlled Senate, and you're going to

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Speaker 6: see them, as you mentioned, we've already seen those on

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Speaker 6: the air here in the DMV media market that they're

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Speaker 6: hammering that home. And I think with you, about a

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Speaker 6: third of the electorate is black in Maryland, and she

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Speaker 6: really also Brooks really needs to run up the score,

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Speaker 6: particularly in Baltimore. Kamala Harris, a black woman atop the ticket,

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Speaker 6: certainly helps also Brooks in that regard.

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Speaker 3: Okay, so that's really important.

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Speaker 2: Think of the difference between what we're talking about with

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Speaker 2: Jessica here Maryland versus Montana, and the impact that Kamala

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Speaker 2: Harris can have. It's limited, obviously, but this is one

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Speaker 2: of the bluest states in the country, Jessica, and I

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Speaker 2: wonder if Democrats are starting to get nervous we're seeing

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Speaker 2: I mean, we're buried with ads from both of them.

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Speaker 2: But I read this morning the backers Evangela Also Brooks

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Speaker 2: have nearly tripled their TV, broadcast and digital ad buys

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Speaker 2: this month compared to August.

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Speaker 3: What does that tell you about this race?

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Speaker 6: Well, I think it's just the Larry Hogan is better

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Speaker 6: known than Angela's Brooks, and angel Also Brooks needs to

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Speaker 6: increase her name ID, introduce herself to voters. You know,

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Speaker 6: she won that primary over another incredibly well financed opponent

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Speaker 6: and David Tron who's pent sixty two million dollars of

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Speaker 6: his own money.

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Speaker 7: But people have been.

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Speaker 6: Used to voting for Larry Hogan, so you can't take

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Speaker 6: anything for granted. But I think once Also Brooks just

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Speaker 6: increases her name ID and tells people that she is

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Speaker 6: the Democrat running that's going to help her.

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Speaker 3: Interesting.

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Speaker 2: I don't know if a lot of people in Maryland

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Speaker 2: are walking around wondering about Joe Manchin. But I have

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Speaker 2: to ask you about the presidential campaign because I don't

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Speaker 2: get that much of an opportunity to talk to Jessica Taylor.

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Speaker 8: Here.

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Speaker 2: There's a fascinating There's a fascinating piece by Nia Malika

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Speaker 2: Henderson at Bloomberg Opinion who says Larry Hogan should get

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Speaker 2: involved in the presidential race and endorse Kamala Harris. Now,

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Speaker 2: remember this is a very strange scenario in Maryland, so

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Speaker 2: things might not seem logical because we're talking about such

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Speaker 2: a blue state. But Nia says that Hogan is running

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Speaker 2: about a perfect race for Senate that a Republican could

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Speaker 2: run in Maryland. He puts it over the top by

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Speaker 2: endorsing a Democrat for president. Is that even possible in

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Speaker 2: your view?

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Speaker 6: I think that would certainly help him. But I think

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Speaker 6: fundamentally if you contindue you know, what they're saying in

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Speaker 6: the ads is that you know, he would still be

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Speaker 6: a Republican in the Senate and would caucus with Republicans.

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Speaker 6: And I think that's the difference that you know, if

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Speaker 6: you were say to say, I'm going to be an

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Speaker 6: independent in the Senate and decide who I'm going to caucus.

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Speaker 6: But that might help him.

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Speaker 7: You know.

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Speaker 6: Again, a lot of his ads have been very critical

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Speaker 6: of former President Trump. They've you know, criticized him for

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Speaker 6: January sixth and different things. Like if you closed your

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Speaker 6: eyes and like listen to some of these ads, you

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Speaker 6: would think they were coming from a Democrat. So he

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Speaker 6: certainly is much farther to the left than your traditional

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Speaker 6: Republican would be. But what republican, what Democrats have to

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Speaker 6: hit him on is just that he was recruited into

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Speaker 6: the race by Mitch McConnell and has said that he

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Speaker 6: would caucus as a Republican. So I think the only

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Speaker 6: thing that could possibly change the trajectory as if he says, listen,

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Speaker 6: I'd follow Joe Mangin's lead in the final months and

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Speaker 6: be an independent, and I'd leave it up to you

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Speaker 6: to who I'm going to caucus with.

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Speaker 2: Really interesting and a great conversation. As always, Jessica, we

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Speaker 2: missed you. I'll come back and talk to this soon.

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Speaker 2: We've only got about eight weeks left to talk about this,

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Speaker 2: although I don't think it's going to be quite done

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Speaker 2: in eight weeks. She's the Senate and Governor's editor for

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Speaker 2: the Cook Political Report. In Making News Today at the

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Speaker 2: top of the tip sheets with this move on Montana

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Speaker 2: leans are I'm Joe, Matthew and Washington, and we thank

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Speaker 2: you for joining us here on Balance of Power.

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Speaker 1: You're listening to the Bloomberg Balance of Power podcast kens

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Speaker 1: Just Live weekdays at noon Eastern on Apple car Play

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Speaker 1: and thenroud Oro with the Bloomberg Business app. You can

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Speaker 1: also listen live on Amazon Alexa from our flagship New

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Speaker 1: York station, Just Say Alexa Play Bloomberg eleven thirty.

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Speaker 9: Joe and I indeed are broadcasting live on Bloomberg TV

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Speaker 9: and Radio from Washington, where a lot of the conversation

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Speaker 9: has actually focused on the town of Springfield, Ohio. Part

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Speaker 9: of this as a result of what's been happening online

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Speaker 9: and the propagating of misinformation around Haitian immigrants eating pets

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Speaker 9: in Springfield, but of course it actually made its way

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Speaker 9: onto the debate stage. Donald Trump himself talked about the

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Speaker 9: eating of dogs when he was sharing the stage with

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Speaker 9: Kamala Harris in Philadelphia. And we're seeing a real impact

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Speaker 9: of that now as once again the Springfield City School

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Speaker 9: District has had to close schools today, according to school officials,

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Speaker 9: one middle school and evacuated two elementary schools because of

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Speaker 9: threats that local police were informed of. And this is

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Speaker 9: something that the President Joe is now addressing from the

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Speaker 9: White House, saying there is no place in America for this.

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Speaker 9: It has to stop.

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Speaker 2: This is not something we showed up at work. Looking

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Speaker 2: to talk about again. We did talk about it on

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Speaker 2: Tuesday night when this came up in the debate. Having

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Speaker 2: heard about this, jd Vance said it had said it

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Speaker 2: earlier in the day. The fact that the President went

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Speaker 2: there knowing that Laura Lumer was with him on the

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Speaker 2: plane to fill Adela had some folks scratching their heads.

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Speaker 2: But okay, we move on. It was debunked by ABC News.

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Speaker 2: They were criticized for doing that in real time, but

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Speaker 2: it has now become part of the stump speech. Kayleie,

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Speaker 2: this wasn't just a one off during the debate with

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Speaker 2: Kamala Harris. It came up again last night in Tucson, Arizona,

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Speaker 2: expanding it to a whole new species. Here's Donald Trump.

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Speaker 3: Recording of nine to one to one calls.

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Speaker 10: Even show residents are reporting that the migrants are walking

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Speaker 10: off with the town's geese.

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Speaker 3: They take in the geese, you know where the.

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Speaker 2: Geese are in the park in the lake, and even

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Speaker 2: walking off with their pets.

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Speaker 3: My dog's been taken my dog, he says.

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Speaker 2: They're taking the geese in the park in the lake,

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Speaker 2: not just the cats and the dogs. Let's round up

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Speaker 2: our panel right now, Genie Schanzano, Senior Democracy Fellow with

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Speaker 2: the Center for the Study of the Presidency in Congressloomberg

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Speaker 2: Politics contributor of course. Iona University political science professor Morigillespie

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Speaker 2: is here as well today Bluestax Strategies, Republican strategist and

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Speaker 2: veteran of John Bayner's Speaker's office.

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Speaker 3: Genie, I'm going to start with you on this.

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Speaker 2: Because look, it's people laugh, it's wacky, it's funny for

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Speaker 2: some people, but there are some real racial undertones here

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Speaker 2: on there. What's the point that Donald Trump's trying to make?

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Speaker 6: There?

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Speaker 11: Absolutely are First of all, it's you know, hard for

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Speaker 11: me to wrap my head around here, and Kayley and

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Speaker 11: you talk about pets being eating by migrants. I still still,

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Speaker 11: you know, what are we seventy two hours in? It's

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Speaker 11: hard to wrap my head around, but here we are

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Speaker 11: in American politics, and you know, absolutely there is enormous

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Speaker 11: racial undertones to this. But you know, the reality is

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Speaker 11: this is what Donald Trump has trafficked in for many,

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Speaker 11: many years and quite frankly successfully. You know, I was

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Speaker 11: at Trump Tower when he came down the escalator and

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Speaker 11: announced in horrific langue which about immigrants in twenty fifteen.

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Speaker 11: In the race for twenty sixteen, this is the same

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Speaker 11: thing he garners attention. I remember we all said after that, boy,

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Speaker 11: he doesn't have a shot in heck of the nomination,

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Speaker 11: let alone winning, And there he went. So this has

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Speaker 11: been a winning strategy for him. He is using it.

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Speaker 11: President Biden is right, there is no place for it,

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Speaker 11: and yet here we are. So it is up to

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Speaker 11: the American public and voters to say there's no place

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Speaker 11: for it. Because as long as he is successful in

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Speaker 11: these races, he continues to do this.

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Speaker 9: But more, if it was a winning strategy in the past,

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Speaker 9: does that automatically make it a winning strategy now, especially

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Speaker 9: when he was seen as having lost the debate by

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Speaker 9: most Americans who watched it against Kamala Harris. Is this

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Speaker 9: really what he needs to be pushing right now.

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Speaker 8: No, And I think that what you're seeing is again

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Speaker 8: he's only playing to the magabas. He's not playing to win.

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Speaker 8: He's not playing to reach people who are in the

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Speaker 8: middle and maybe still undecided. This is not going to

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Speaker 8: sway them to vote for don Trump. He's coming across

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Speaker 8: largely on Tuesday Night as unhinged and when you're based

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Speaker 8: on the decision about who to put in the oval office,

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Speaker 8: it's not just about that person, but who they're going

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Speaker 8: to put around him. And so for many people who

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Speaker 8: have said, you know, are you better off now than

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Speaker 8: you were four years ago and things of that nature, Well,

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Speaker 8: when you think about those first few years and during

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Speaker 8: the Trump presidency, maybe you do feel like your life

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Speaker 8: was better than it was pre COVID, you know, so

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Speaker 8: maybe you do feel like your life was better than

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Speaker 8: But I also caution people to remember who was around

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Speaker 8: him at that time, and largely most of those people

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Speaker 8: who were in his cabinet or in his orbit have

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Speaker 8: neither you know, left, were fired because they told him no,

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Speaker 8: and he then replaced them with yes men and are

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Speaker 8: out there saying that he should not be anywhere near

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Speaker 8: the White House. So I think, you know, to only

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Speaker 8: play the one portion of the Republican Party, and especially

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Speaker 8: in such an extreme manner, is not an effective strategy

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Speaker 8: for someone who would actually have wanted to win the

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Speaker 8: White House. It's not helpful to down valid races either.

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Speaker 2: You think about these families and the impact, the real

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Speaker 2: impact that it's having in Springfield is Kaylee mentioned Genie

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Speaker 2: the spring Field City School District closed in middle school,

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Speaker 2: Roosevelt Middle School, and evacuated another parent Woods and Snowhill

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Speaker 2: Elementary School as well this morning after they got bomb

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Speaker 2: threats via email. Cliff Park High School outside of that

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Speaker 2: district was also evacuated. They're now working with the Dayton

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Speaker 2: FBI office to find the source of this stuff. There

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Speaker 2: is a very clear and real example here of what

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Speaker 2: the rhetoric can lead to, right.

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Speaker 11: There, absolutely is, And this is the danger of this.

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Speaker 11: It takes one person to react to this kind of

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Speaker 11: obviously clearly false statements and stories to spread that disinformation.

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Speaker 11: And this is why leadership matters, because leaders like Donald

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Speaker 11: Trump have to be responsible and to lead us in

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Speaker 11: a more positive direction. He is not doing that by

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Speaker 11: spreading this information. That is clear. But the reality for

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Speaker 11: Donald Trump is he's seen it be successful in the past,

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Speaker 11: he believes it will be and as long as he

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Speaker 11: continues to believe that, he is not going to stop.

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Speaker 11: And this is where to Mora's point, we need other

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Speaker 11: leaders on the Republican side to stand up and say

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Speaker 11: enough is enough. We've seen that from Liz Cheney, We've

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Speaker 11: seen that from Dick Cheney, We've seen it from Mike Pence.

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Speaker 11: We've got to see it from others, including former President

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Speaker 11: George W. Bush, who took a hands off approach. They

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Speaker 11: have to stand up and say we aren't going to

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Speaker 11: countenance of this anymore. That's the only way. In addition

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Speaker 11: to Donald Trump losing another election, and the Republicans may

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Speaker 11: get tired of that if it happens.

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Speaker 9: I would point out Janian Morra for our audience here

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Speaker 9: on Bloomberg TV in radio, that Donald Trump right now

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Speaker 9: is giving remarks to the press in Los Angeles, California.

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Speaker 9: He's opened them by saying he's here in California with

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Speaker 9: a simple message for the American people. We cannot allow

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Speaker 9: Comrade Kamala Harris and the communist left to do to

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Speaker 9: America what they did to California. As we consider the

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Speaker 9: messaging we're getting from the former President Mora. He also

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Speaker 9: has weighed in on the happenings here in Washington in

438
00:22:08,920 --> 00:22:12,119
Speaker 9: recent days, suggesting that House Republicans, who of course are

439
00:22:12,160 --> 00:22:15,159
Speaker 9: trying to avert a government shutdown eighteen days from now

440
00:22:15,160 --> 00:22:17,800
Speaker 9: when funding expires, should indeed shut the government down if

441
00:22:17,800 --> 00:22:21,679
Speaker 9: they don't get election security through along with it. The

442
00:22:21,680 --> 00:22:25,600
Speaker 9: Safe Act of course, what we're referring to here making

443
00:22:25,640 --> 00:22:29,320
Speaker 9: illegal something that already is illegal, non citizens voting. Do

444
00:22:29,359 --> 00:22:32,040
Speaker 9: you believe this Donald Trump, who is speaking right now,

445
00:22:32,080 --> 00:22:34,800
Speaker 9: actually wants to see the government shut down as he

446
00:22:34,840 --> 00:22:36,359
Speaker 9: is trying to win election.

447
00:22:37,920 --> 00:22:39,280
Speaker 8: Again, I think it proves to have a point that

448
00:22:39,320 --> 00:22:42,479
Speaker 8: he doesn't actually want to win, because everyone in Washington

449
00:22:42,520 --> 00:22:46,080
Speaker 8: and otherwise would know that a shutdown right before an

450
00:22:46,080 --> 00:22:49,840
Speaker 8: election is political suicide. Quite frankly, you know, it's not

451
00:22:49,880 --> 00:22:52,240
Speaker 8: something that anyone wants to do. They are down to

452
00:22:52,240 --> 00:22:55,200
Speaker 8: a matter of weeks before that happens. And to take

453
00:22:55,240 --> 00:22:58,280
Speaker 8: this stance and take this position of you know, get

454
00:22:58,359 --> 00:23:00,800
Speaker 8: everything you want or don't do anything at all, is

455
00:23:00,840 --> 00:23:03,480
Speaker 8: not how Congress works, I mean again, and it shows

456
00:23:03,680 --> 00:23:07,080
Speaker 8: the downside of having somebody in politics, as you know,

457
00:23:07,160 --> 00:23:09,720
Speaker 8: the leader of the Republican Party, who doesn't actually understand

458
00:23:09,920 --> 00:23:11,920
Speaker 8: how it works. And I think that that's a detriment

459
00:23:11,960 --> 00:23:14,840
Speaker 8: to what Mike Johnson is trying to accomplish and other

460
00:23:14,920 --> 00:23:17,600
Speaker 8: leaders on Capitol Hill who are trying to make something

461
00:23:17,680 --> 00:23:20,600
Speaker 8: work that they can get through to avoid this situation

462
00:23:20,720 --> 00:23:23,359
Speaker 8: that both sides know would not farewell for them politically

463
00:23:23,800 --> 00:23:25,760
Speaker 8: but in the polls. But also come election.

464
00:23:25,600 --> 00:23:30,080
Speaker 2: Day, well, Laura, you work for a speaker long enough

465
00:23:30,119 --> 00:23:31,800
Speaker 2: to have a better sense of how this stuff works

466
00:23:31,800 --> 00:23:33,600
Speaker 2: than most people behind the scenes in the House. You

467
00:23:33,640 --> 00:23:37,560
Speaker 2: don't really think the government shuts down to you.

468
00:23:36,440 --> 00:23:38,840
Speaker 8: No, because they're not going to want to risk that potential.

469
00:23:38,880 --> 00:23:41,800
Speaker 8: Because again, yes, most of the focus of the media

470
00:23:41,880 --> 00:23:44,719
Speaker 8: and American people are focused on these two choices Kamala

471
00:23:44,720 --> 00:23:47,960
Speaker 8: Harris or Donald Trump. But for Congress, what they're really

472
00:23:47,960 --> 00:23:49,880
Speaker 8: focused on is, Okay, we need to get things done

473
00:23:49,920 --> 00:23:51,560
Speaker 8: and then go home to our districts and tell them

474
00:23:51,560 --> 00:23:54,080
Speaker 8: why they should re elect us. And it's really important

475
00:23:54,080 --> 00:23:56,480
Speaker 8: because Mike Johnson wants to grow his majority, which is very,

476
00:23:56,520 --> 00:23:59,280
Speaker 8: very very thin, and Senate Republicans feel as though they

477
00:23:59,280 --> 00:24:00,919
Speaker 8: have a chance that Fillip being the Senate. So if

478
00:24:00,960 --> 00:24:03,680
Speaker 8: they want to accomplish those goals, they actually have to

479
00:24:03,680 --> 00:24:05,399
Speaker 8: show that they've gotten something done. And you know, this

480
00:24:05,440 --> 00:24:07,480
Speaker 8: week they've been focusing on China, but no one's really

481
00:24:07,520 --> 00:24:10,280
Speaker 8: talking about it. And that's because all the oxygen the

482
00:24:10,359 --> 00:24:12,800
Speaker 8: room is constantly being taken by Donald Trump. Not to

483
00:24:12,840 --> 00:24:15,919
Speaker 8: mention the fundraising dollars are also being taken by Donald Trump.

484
00:24:15,920 --> 00:24:18,879
Speaker 8: So really, Republicans downbout have to separate themselves from the

485
00:24:19,440 --> 00:24:22,000
Speaker 8: more president because he's hurting them in so many ways,

486
00:24:22,040 --> 00:24:26,000
Speaker 8: from messaging, from fundraising, and just getting things accomplished to

487
00:24:26,119 --> 00:24:29,480
Speaker 8: actually come out with a victory in November in just

488
00:24:29,480 --> 00:24:30,240
Speaker 8: a matter of weeks.

489
00:24:30,440 --> 00:24:34,600
Speaker 9: Yeah, I want to mention one Republican, the Senator from

490
00:24:34,600 --> 00:24:37,760
Speaker 9: North Carolina, Tom Tillis, just out with a post on

491
00:24:38,080 --> 00:24:41,440
Speaker 9: x about someone who's seemingly getting closer to Donald Trump,

492
00:24:41,480 --> 00:24:44,520
Speaker 9: has been traveling with him, in fact, this week, Laura Lumer.

493
00:24:44,720 --> 00:24:47,840
Speaker 9: He calls her a crazy conspiracy theorist who regularly utters

494
00:24:47,880 --> 00:24:52,000
Speaker 9: disgusting garbage intended to divide Republicans. A DNC plant. Couldn't

495
00:24:52,000 --> 00:24:53,920
Speaker 9: do a better job than she is doing to hurt

496
00:24:53,960 --> 00:24:58,639
Speaker 9: President Trump's chances of winning re election enough, Senator Tillis says, Genie.

497
00:24:58,640 --> 00:25:01,000
Speaker 9: Of course, even Marjorie Taylor Green has had some words

498
00:25:01,200 --> 00:25:04,840
Speaker 9: for miss Lumer this week. Is that actually having this

499
00:25:04,920 --> 00:25:08,439
Speaker 9: effect Donald Trump being surrounded with people like her?

500
00:25:09,440 --> 00:25:11,680
Speaker 11: You know, I don't think it takes Donald Trump being

501
00:25:11,680 --> 00:25:14,320
Speaker 11: surrounded by other people for him to act the way

502
00:25:14,359 --> 00:25:17,679
Speaker 11: he's acting. He purposely chooses to have her in his orbit.

503
00:25:18,119 --> 00:25:22,240
Speaker 11: Tillis's statement is one hundred percent right. But this gets

504
00:25:22,280 --> 00:25:24,720
Speaker 11: back to what you were just talking about with Mora.

505
00:25:25,840 --> 00:25:29,719
Speaker 11: Donald Trump is not concerned about the Republican Party or

506
00:25:29,760 --> 00:25:33,119
Speaker 11: the nation, as Kamala Harris said, He's concerned about himself

507
00:25:33,160 --> 00:25:36,639
Speaker 11: and his future. This is a man facing jail time

508
00:25:37,240 --> 00:25:40,840
Speaker 11: right after this election. He needs to win. Why is

509
00:25:40,880 --> 00:25:44,160
Speaker 11: he willing to have the government shut down in terms

510
00:25:44,200 --> 00:25:47,880
Speaker 11: of pushing this need for a Save Act? Because he

511
00:25:48,000 --> 00:25:51,520
Speaker 11: wants to set the groundwork that the election was unfair.

512
00:25:52,000 --> 00:25:54,399
Speaker 11: If he does lose, then he is going to do

513
00:25:54,440 --> 00:25:58,120
Speaker 11: the same thing he has done after every election, particularly

514
00:25:58,160 --> 00:26:01,720
Speaker 11: twenty twenty, and say the election was stolen. So he's

515
00:26:01,760 --> 00:26:04,840
Speaker 11: setting the groundwork. So I don't think it takes Laura

516
00:26:04,880 --> 00:26:07,199
Speaker 11: Lumer to do that. But Tom Tillis is right, it

517
00:26:07,240 --> 00:26:09,360
Speaker 11: is not for the campaign.

518
00:26:10,359 --> 00:26:10,680
Speaker 8: All right.

519
00:26:10,760 --> 00:26:14,040
Speaker 9: Jeanie Shanzeno and Mara Gillespie our political panel today, Thank

520
00:26:14,119 --> 00:26:16,360
Speaker 9: you so much for joining us. We'll have more coming

521
00:26:16,440 --> 00:26:18,760
Speaker 9: up on Balance of Power right here on Bloomberg TV

522
00:26:19,080 --> 00:26:22,159
Speaker 9: and radio.

523
00:26:23,359 --> 00:26:26,880
Speaker 1: You're listening to the Bloomberg Balance of Power Podcast. Catch

524
00:26:26,960 --> 00:26:29,800
Speaker 1: us live weekdays at noon Eastern on Appo, car Play

525
00:26:29,840 --> 00:26:32,480
Speaker 1: and then Proud Auto with the Bloomberg Business app. Listen

526
00:26:32,560 --> 00:26:35,600
Speaker 1: on demand wherever you get your podcasts or watch us

527
00:26:35,640 --> 00:26:38,960
Speaker 1: live on YouTube.

528
00:26:39,440 --> 00:26:41,880
Speaker 9: And as we consider who these policies are really aimed

529
00:26:41,920 --> 00:26:45,320
Speaker 9: at attracting this specifically no tax on overtime that Donald

530
00:26:45,320 --> 00:26:47,480
Speaker 9: Trump is now talking about trying to get to the

531
00:26:47,480 --> 00:26:50,760
Speaker 9: blue collar that's vote, and we know that it's probably

532
00:26:50,760 --> 00:26:52,760
Speaker 9: the blue collar vote in a very small number of

533
00:26:52,760 --> 00:26:55,600
Speaker 9: states specifically that this is trying to target. As the

534
00:26:55,600 --> 00:26:58,359
Speaker 9: candidates compete in the battlegrounds extensively.

535
00:26:57,880 --> 00:27:00,199
Speaker 3: They're in those states right now. I think Spencil Vanya,

536
00:27:00,240 --> 00:27:01,280
Speaker 3: it's Michigan.

537
00:27:00,880 --> 00:27:03,680
Speaker 2: It's Wisconsin. That's exactly where they've been spending the bulk

538
00:27:03,720 --> 00:27:06,200
Speaker 2: of their time. As we mentioned earlier, he's in Nevada,

539
00:27:06,240 --> 00:27:08,960
Speaker 2: latter Las Vegas, where you've got organized labor, the Culinary

540
00:27:09,000 --> 00:27:11,960
Speaker 2: Workers Union. They're going to like this storylines too, I suspect.

541
00:27:12,040 --> 00:27:12,200
Speaker 3: Yeah.

542
00:27:12,280 --> 00:27:14,399
Speaker 9: Of course Georgia is still in play as well. And

543
00:27:14,440 --> 00:27:17,080
Speaker 9: that's where we go next. As we turn to Andre Gillespie,

544
00:27:17,119 --> 00:27:20,200
Speaker 9: who is a professor of political science at Emory University,

545
00:27:20,200 --> 00:27:22,439
Speaker 9: Welcome back to Balance of Power. Andre, it's great to

546
00:27:22,480 --> 00:27:24,440
Speaker 9: have you. If we could just take a look at

547
00:27:24,520 --> 00:27:27,440
Speaker 9: Donald Trump's proposal in isolation for a moment. This notion

548
00:27:27,600 --> 00:27:32,720
Speaker 9: of not taxing overtime hours for blue collar workers, is

549
00:27:32,760 --> 00:27:35,960
Speaker 9: that a policy that could actually garner him more support?

550
00:27:36,000 --> 00:27:37,960
Speaker 9: Does that work well?

551
00:27:38,000 --> 00:27:39,879
Speaker 7: I mean, I think he's trying to appeal to lowering

552
00:27:39,920 --> 00:27:42,600
Speaker 7: taxes of working people. I think in all of the

553
00:27:42,640 --> 00:27:47,080
Speaker 7: proposals that have been made about reducing taxes, eliminating taxes

554
00:27:47,119 --> 00:27:50,359
Speaker 7: on tips, eliminating taxes on social security, I think the

555
00:27:50,359 --> 00:27:54,399
Speaker 7: bigger question is is this legislatively dead on arrival? Like

556
00:27:54,440 --> 00:27:58,439
Speaker 7: these our decisions that presidents cannot make unilaterally, these are

557
00:27:58,480 --> 00:28:00,760
Speaker 7: decisions that are going to have to go through in

558
00:28:00,840 --> 00:28:02,199
Speaker 7: a tax bill. And I think it would be a

559
00:28:02,280 --> 00:28:05,359
Speaker 7: question of could this get through a divided Congress if

560
00:28:06,160 --> 00:28:09,280
Speaker 7: neither party has control of the Congress, and if it

561
00:28:09,359 --> 00:28:11,640
Speaker 7: turns out that we have divided government where the executive

562
00:28:11,640 --> 00:28:14,760
Speaker 7: and the legislative branches are controlled by different parties, does

563
00:28:14,800 --> 00:28:17,120
Speaker 7: this have any chance of passage? And so I think

564
00:28:17,160 --> 00:28:20,320
Speaker 7: the deficit discussion that you've been having is an important

565
00:28:20,320 --> 00:28:23,800
Speaker 7: consideration in some that folks would likely bring up. And

566
00:28:23,840 --> 00:28:27,159
Speaker 7: there still are members of the Republican Party in particular

567
00:28:27,440 --> 00:28:30,119
Speaker 7: who are concerned about deficits, and they may raise some

568
00:28:30,280 --> 00:28:33,320
Speaker 7: objections to this part of the proposal, especially now that

569
00:28:33,359 --> 00:28:34,879
Speaker 7: it's become even more expansive.

570
00:28:36,000 --> 00:28:38,160
Speaker 2: It's interesting you make that point under it because Donald

571
00:28:38,200 --> 00:28:39,120
Speaker 2: Trump has gone out of his.

572
00:28:39,120 --> 00:28:42,040
Speaker 3: Way to make part of his pitch that he doesn't.

573
00:28:41,800 --> 00:28:44,960
Speaker 2: Need Congress to do all of the things that he's proposing.

574
00:28:44,960 --> 00:28:47,320
Speaker 2: You're right, tax policy is going to be a knockdown,

575
00:28:47,360 --> 00:28:50,040
Speaker 2: drag out fight in Congress here, and it'll be interesting

576
00:28:50,040 --> 00:28:52,760
Speaker 2: to see how that plays depending on who wins the

577
00:28:52,800 --> 00:28:55,240
Speaker 2: White House. But when you're talking about tariffs, when you're

578
00:28:55,240 --> 00:29:00,120
Speaker 2: talking about the greatest mass deportation in American history, as

579
00:29:00,160 --> 00:29:02,480
Speaker 2: he calls it, or world's history, whatever that may be,

580
00:29:02,600 --> 00:29:04,520
Speaker 2: he does not need Congress for that, does he.

581
00:29:06,000 --> 00:29:07,600
Speaker 7: So there are some things that he might be able

582
00:29:07,600 --> 00:29:10,560
Speaker 7: to take care of through executive order, but even there

583
00:29:10,600 --> 00:29:13,160
Speaker 7: a separation of powers is likely to come into play,

584
00:29:13,200 --> 00:29:16,600
Speaker 7: because there is very little doubt that if he were

585
00:29:16,680 --> 00:29:18,640
Speaker 7: to try to enact some of these things due to

586
00:29:18,680 --> 00:29:20,920
Speaker 7: laterally that there would not be some type of judicial

587
00:29:20,920 --> 00:29:22,920
Speaker 7: intervention where folks would try to go to the courts

588
00:29:23,160 --> 00:29:25,520
Speaker 7: to try to enjoin him in some way, shape or form.

589
00:29:25,560 --> 00:29:28,080
Speaker 7: We can look as evidence of that the Muslim band

590
00:29:28,960 --> 00:29:32,200
Speaker 7: that he instituted shortly after he took office in twenty seventeen,

591
00:29:32,520 --> 00:29:34,680
Speaker 7: there were lawsuits that they were enjoined and did get

592
00:29:34,680 --> 00:29:38,040
Speaker 7: all the way to the Supreme Court, And the policy

593
00:29:38,080 --> 00:29:39,960
Speaker 7: that ended up going into effect actually looked a little

594
00:29:39,960 --> 00:29:42,960
Speaker 7: bit different than the one that President Trump issued when

595
00:29:42,960 --> 00:29:46,080
Speaker 7: he first issued that executive order right after he was

596
00:29:46,120 --> 00:29:47,360
Speaker 7: inaugurated as president.

597
00:29:49,360 --> 00:29:51,640
Speaker 9: Well, we may or may not hear more on this

598
00:29:51,720 --> 00:29:54,840
Speaker 9: policy and others from Donald Trump on a debate stage

599
00:29:54,840 --> 00:29:56,959
Speaker 9: in the future, or Kamala Harris for that matter. If

600
00:29:57,000 --> 00:29:59,520
Speaker 9: Donald Trump is to believed right now on, be believed

601
00:29:59,560 --> 00:30:01,959
Speaker 9: right now on, there will not be another debate that

602
00:30:02,040 --> 00:30:06,280
Speaker 9: happens between these two. After Kamala Harris widely was perceived

603
00:30:06,280 --> 00:30:09,440
Speaker 9: to have won the one that took place this week,

604
00:30:09,520 --> 00:30:11,760
Speaker 9: how soon should we expect that to be born out

605
00:30:11,800 --> 00:30:12,760
Speaker 9: in poles if at all?

606
00:30:14,240 --> 00:30:16,280
Speaker 7: Well, there have been some poles that have come out,

607
00:30:16,720 --> 00:30:19,520
Speaker 7: you know, in the last day or so, and so

608
00:30:19,600 --> 00:30:21,520
Speaker 7: what they're suggesting is that this race is still a

609
00:30:21,520 --> 00:30:24,840
Speaker 7: statistical dead heat. So it doesn't look like Kamala Harris

610
00:30:24,680 --> 00:30:27,640
Speaker 7: has had a significant enough bump that you could actually

611
00:30:27,680 --> 00:30:31,160
Speaker 7: say that this was a boon for her. And so

612
00:30:31,200 --> 00:30:33,400
Speaker 7: I think the larger question, as I know some of

613
00:30:33,440 --> 00:30:35,120
Speaker 7: your earlier guests have said, is what do the poles

614
00:30:35,160 --> 00:30:37,080
Speaker 7: look like in a couple of weeks, And then I

615
00:30:37,080 --> 00:30:38,560
Speaker 7: think that there would be a question of how much

616
00:30:38,600 --> 00:30:41,520
Speaker 7: fallout does Donald Trump have to take from his decision

617
00:30:41,560 --> 00:30:44,200
Speaker 7: to not engage in the debate. Could he get baited

618
00:30:44,240 --> 00:30:48,040
Speaker 7: by Democrats calling him a coward or a chicken, or

619
00:30:48,080 --> 00:30:51,480
Speaker 7: does he see some type of shift in the poles

620
00:30:51,480 --> 00:30:55,120
Speaker 7: that would suggest that he absolutely needs to debate. I think,

621
00:30:55,160 --> 00:30:56,600
Speaker 7: you know, one of the things that is really interesting

622
00:30:56,640 --> 00:30:59,280
Speaker 7: is that Donald Trump has usually been pretty effective in

623
00:30:59,400 --> 00:31:02,800
Speaker 7: being a to spin things in his favor, and so

624
00:31:03,160 --> 00:31:05,040
Speaker 7: the excuse is that he's made for not wanting to

625
00:31:05,080 --> 00:31:07,360
Speaker 7: debate by declaring himself the winner and saying that only

626
00:31:07,480 --> 00:31:10,640
Speaker 7: losers want rematches, you know, has struck me is actually

627
00:31:10,640 --> 00:31:13,520
Speaker 7: pretty conportionist in their point of view. I know that

628
00:31:13,640 --> 00:31:16,160
Speaker 7: his supporters, you know, will go along with that point

629
00:31:16,160 --> 00:31:18,200
Speaker 7: of view and start echoing it. But if it looks

630
00:31:18,200 --> 00:31:20,400
Speaker 7: like it's going to start to hurt him, we might

631
00:31:20,480 --> 00:31:23,040
Speaker 7: hear him talk about how he has changed his mind

632
00:31:23,280 --> 00:31:25,239
Speaker 7: and then try to tell us that this is what

633
00:31:25,280 --> 00:31:27,480
Speaker 7: he thought all the time. So, you know, I think

634
00:31:27,480 --> 00:31:30,480
Speaker 7: that's a largely a function of Donald Trump really being

635
00:31:30,520 --> 00:31:34,280
Speaker 7: allowed to have free rein at the spin. But if

636
00:31:34,320 --> 00:31:36,960
Speaker 7: it starts to not work, then we might see him pivot,

637
00:31:37,000 --> 00:31:38,720
Speaker 7: as we've seen him pivot on other issues.

638
00:31:39,920 --> 00:31:44,320
Speaker 2: Interesting andre well, we consider what's happening in Congress right now.

639
00:31:44,360 --> 00:31:46,320
Speaker 2: The big talk is about whether we'll have a government

640
00:31:46,360 --> 00:31:48,280
Speaker 2: shut down later this month. No one seems to think

641
00:31:48,320 --> 00:31:50,600
Speaker 2: that's going to happen. But there's an important event that's

642
00:31:50,640 --> 00:31:53,760
Speaker 2: underway this week in Washington, a big annual event for

643
00:31:53,800 --> 00:31:57,520
Speaker 2: the Congressional Black Caucus. They're holding their legislative convention right now,

644
00:31:57,560 --> 00:32:00,360
Speaker 2: and we've been having conversations with some of their members

645
00:32:00,400 --> 00:32:03,360
Speaker 2: over the past couple of days, including Congresswoman Jasmine Crockett,

646
00:32:03,400 --> 00:32:06,000
Speaker 2: the Democrat from Texas, joined me last evening on the

647
00:32:06,040 --> 00:32:08,360
Speaker 2: late edition of Balance of Power to talk about the

648
00:32:08,440 --> 00:32:13,120
Speaker 2: CBC's priorities moving forward in this Congress and what might

649
00:32:13,200 --> 00:32:18,320
Speaker 2: emerge next year. She reached for the issue of voting

650
00:32:18,560 --> 00:32:20,520
Speaker 2: rights of voting reform.

651
00:32:20,680 --> 00:32:22,440
Speaker 3: Here's what she said for.

652
00:32:22,480 --> 00:32:25,080
Speaker 12: Me on day one is voting rights. That is my

653
00:32:26,040 --> 00:32:29,400
Speaker 12: priority all around, because if we can stop some of

654
00:32:29,440 --> 00:32:33,280
Speaker 12: the jerrymandering, because we have lost the Voting Rights Act

655
00:32:33,320 --> 00:32:36,520
Speaker 12: in so many ways, we only have you know Section two,

656
00:32:36,760 --> 00:32:39,360
Speaker 12: and it's hanging by a thread right now. And when

657
00:32:39,400 --> 00:32:42,760
Speaker 12: we're talking about making sure that in states like Texas

658
00:32:42,800 --> 00:32:45,880
Speaker 12: we have representation that is actually reflective of the will

659
00:32:45,880 --> 00:32:48,720
Speaker 12: of the people, we can solve so many problems.

660
00:32:51,480 --> 00:32:53,760
Speaker 2: On for just the John Lewis Voting Rights Act see

661
00:32:53,760 --> 00:32:56,360
Speaker 2: the light of day again. If Kamala Harris gets elected.

662
00:32:57,280 --> 00:33:00,480
Speaker 7: Well, it really will depend on what the bounce power

663
00:33:00,640 --> 00:33:06,000
Speaker 7: is in Congress. If Republicans control any chamber, it's still

664
00:33:06,120 --> 00:33:08,800
Speaker 7: not going to go anywhere. And it's still also important

665
00:33:08,800 --> 00:33:12,480
Speaker 7: to keep in mind that in the Senate you would

666
00:33:12,520 --> 00:33:16,520
Speaker 7: have to sort of break sort of normal rules in

667
00:33:16,640 --> 00:33:20,240
Speaker 7: order to allow majority votes. So as I would understand it,

668
00:33:20,280 --> 00:33:23,960
Speaker 7: I wouldn't expect that that vote would be able to

669
00:33:24,000 --> 00:33:26,719
Speaker 7: survive a cloture vote. So I think that, you know,

670
00:33:27,080 --> 00:33:29,719
Speaker 7: it's pretty grim. We're not looking at like, even if

671
00:33:29,760 --> 00:33:32,320
Speaker 7: Democrats are able to maintain control of the Senate, we're

672
00:33:32,320 --> 00:33:34,920
Speaker 7: not looking at them coming anywhere near a sixty vote majority.

673
00:33:35,640 --> 00:33:38,080
Speaker 7: And so even if they had the majority of the

674
00:33:38,080 --> 00:33:41,240
Speaker 7: House of Representatives, it would still be highly unlikely that

675
00:33:41,280 --> 00:33:43,040
Speaker 7: they would be able to get it through the Senate,

676
00:33:43,080 --> 00:33:45,280
Speaker 7: as was the case in twenty twenty one when they

677
00:33:45,280 --> 00:33:46,360
Speaker 7: were first pushing this through.

678
00:33:48,080 --> 00:33:49,920
Speaker 9: Andre we just have a minute left, but before we

679
00:33:50,000 --> 00:33:51,800
Speaker 9: let you go, as we consider the majority of the

680
00:33:51,800 --> 00:33:54,960
Speaker 9: House of Representatives, if the government shuts down at the

681
00:33:55,080 --> 00:33:56,840
Speaker 9: end of this month, what is that actually going to

682
00:33:56,840 --> 00:33:58,480
Speaker 9: do to Republicans electoral ots.

683
00:34:00,080 --> 00:34:03,480
Speaker 7: So I'm assuming that Republicans will be concerned about that,

684
00:34:03,640 --> 00:34:06,280
Speaker 7: and I think it will be a big question about

685
00:34:06,320 --> 00:34:09,120
Speaker 7: how Democrats actually choose to use that for their event.

686
00:34:10,160 --> 00:34:11,920
Speaker 7: You know, if this were happening a year ago, there

687
00:34:11,960 --> 00:34:14,799
Speaker 7: would be time for the party that is blamed for

688
00:34:14,840 --> 00:34:17,879
Speaker 7: the shutdown to recover from that. But happening so close

689
00:34:17,920 --> 00:34:20,320
Speaker 7: to a national election, I found it hard to believe

690
00:34:20,320 --> 00:34:23,000
Speaker 7: that Democrats wouldn't try to make hay of the situation

691
00:34:23,440 --> 00:34:26,680
Speaker 7: and try to blame government dysfunction on Republican control and

692
00:34:26,719 --> 00:34:29,480
Speaker 7: try to make the case in swing districts and in

693
00:34:29,520 --> 00:34:34,000
Speaker 7: districts where Republicans are vulnerable that the Republican Party should

694
00:34:34,040 --> 00:34:35,760
Speaker 7: not be in charge of a chamber at this point

695
00:34:35,840 --> 00:34:38,640
Speaker 7: because they are being overrun by extremists who don't want

696
00:34:38,640 --> 00:34:41,000
Speaker 7: to get anything done. And so I think that those

697
00:34:41,000 --> 00:34:43,919
Speaker 7: are the objects that is trying to navigate and part

698
00:34:43,920 --> 00:34:45,719
Speaker 7: of the reason why he's been trying to, you know,

699
00:34:45,760 --> 00:34:48,000
Speaker 7: get this done as quickly as beneficially as possible.

700
00:34:49,040 --> 00:34:50,839
Speaker 3: Well, we got eighteen days to figure it out.

701
00:34:50,920 --> 00:34:54,239
Speaker 2: I'm great to see Andre Gillespie Emory University and a

702
00:34:54,280 --> 00:34:56,680
Speaker 2: smart conversation as always here on Balance of Power.

703
00:34:56,719 --> 00:34:59,280
Speaker 3: I'm Joe Matthew with Kaylee Lines. This is Bloomberg.

704
00:35:02,560 --> 00:35:05,839
Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Ken

705
00:35:06,040 --> 00:35:09,080
Speaker 1: just live weekdays at noon Eastern on Applecarplay and then

706
00:35:09,160 --> 00:35:11,760
Speaker 1: roun Oo with the Bloomberg Business app. You can also

707
00:35:11,800 --> 00:35:15,320
Speaker 1: listen live on Amazon Alexa from our flagship New York station,

708
00:35:15,719 --> 00:35:19,160
Speaker 1: Just Say Alexa Play Bloomberg eleven thirty.

709
00:35:20,680 --> 00:35:23,319
Speaker 2: We spend so much time talking about the horse race,

710
00:35:23,400 --> 00:35:27,040
Speaker 2: the policy proposals, of course, the debate this week, some

711
00:35:27,160 --> 00:35:29,600
Speaker 2: of the wild rhetoric that we heard on the stump

712
00:35:29,600 --> 00:35:32,600
Speaker 2: in the last forty eight hours. We don't always think

713
00:35:32,600 --> 00:35:37,000
Speaker 2: about the job that they're working for, and the latest

714
00:35:37,040 --> 00:35:40,480
Speaker 2: from David Rubinstein, the highest calling. We've both been curled

715
00:35:40,560 --> 00:35:43,040
Speaker 2: up with this book for a minute conversations on the

716
00:35:43,080 --> 00:35:46,840
Speaker 2: American presidency. You start reading about all of the presidents,

717
00:35:46,880 --> 00:35:50,040
Speaker 2: including by the way, Joe Biden and Donald Trump, and

718
00:35:50,080 --> 00:35:53,840
Speaker 2: I'm left with the same question, why would anyone ever

719
00:35:53,960 --> 00:35:54,800
Speaker 2: want this job?

720
00:35:55,360 --> 00:35:58,640
Speaker 9: Yeah, very difficult one, of course, perhaps the most difficult

721
00:35:58,640 --> 00:36:02,279
Speaker 9: to attain, at least in American politics, in the way

722
00:36:02,320 --> 00:36:04,960
Speaker 9: in which this Republic operates, and of course one that

723
00:36:05,040 --> 00:36:08,040
Speaker 9: may be held differently, viewed differently by the people who

724
00:36:08,080 --> 00:36:11,320
Speaker 9: have inhabited the office as you look over the history

725
00:36:11,440 --> 00:36:13,640
Speaker 9: of the now forty six presidents, and twenty of them

726
00:36:13,640 --> 00:36:15,640
Speaker 9: are featured in this new book. And we're very lucky

727
00:36:16,120 --> 00:36:18,600
Speaker 9: to have David Rubinstein, the author here with us. He,

728
00:36:18,640 --> 00:36:20,279
Speaker 9: of course, is co founder and co chair of the

729
00:36:20,280 --> 00:36:23,720
Speaker 9: Carlisle Group, also a host on Bloomberg Television in addition

730
00:36:23,880 --> 00:36:26,279
Speaker 9: to being an author of this book. Always a busy man.

731
00:36:26,320 --> 00:36:28,440
Speaker 9: Thank you for making some time for us here in

732
00:36:28,520 --> 00:36:31,680
Speaker 9: studio in Washington. It's worth pointing out while this is

733
00:36:31,719 --> 00:36:35,359
Speaker 9: in part titled Conversations on the American Presidency, it's also

734
00:36:35,440 --> 00:36:39,400
Speaker 9: conversations with a number of former and even the current president.

735
00:36:39,480 --> 00:36:43,080
Speaker 9: You spoke with both Donald Trump and Joe Biden when

736
00:36:43,080 --> 00:36:46,040
Speaker 9: writing this book. We talk a lot about the contrast

737
00:36:46,080 --> 00:36:49,640
Speaker 9: between these two men. Did you pick up on how

738
00:36:49,719 --> 00:36:53,080
Speaker 9: they may differently view the office of the presidency? Here

739
00:36:53,239 --> 00:36:54,800
Speaker 9: was in more overlap than you expected.

740
00:36:55,719 --> 00:36:57,400
Speaker 10: They do have different views on it and how to

741
00:36:57,520 --> 00:37:00,560
Speaker 10: do it. I interviewed both of them on spar interviews,

742
00:37:00,800 --> 00:37:02,880
Speaker 10: with Joe Biden in the Oval Office for an hour alone,

743
00:37:03,719 --> 00:37:05,080
Speaker 10: and I've known him for a long time, and I

744
00:37:05,120 --> 00:37:08,239
Speaker 10: think he felt comfortable with me, and I've had a

745
00:37:08,239 --> 00:37:10,440
Speaker 10: lot of interactions with him over the years. I've interviewed

746
00:37:10,480 --> 00:37:14,520
Speaker 10: Donald Trump before. In this particular case, he was getting

747
00:37:14,560 --> 00:37:17,160
Speaker 10: ready for a trial, and so it wasn't exactly in

748
00:37:17,200 --> 00:37:19,480
Speaker 10: the Oval Office that I was doing it, but I

749
00:37:19,600 --> 00:37:21,920
Speaker 10: had had dinner with him not too long earlier and

750
00:37:21,960 --> 00:37:24,279
Speaker 10: had gotten ready for the interview. And they both have

751
00:37:24,320 --> 00:37:26,960
Speaker 10: different perspectives on the job. And I might call it

752
00:37:27,000 --> 00:37:30,120
Speaker 10: the highest calling, because this is clearly the most important

753
00:37:30,160 --> 00:37:33,680
Speaker 10: job in the world. Since Woodrow Wilson went to Paris

754
00:37:33,840 --> 00:37:35,759
Speaker 10: to negotiate the Treaty of Versailles, it's been clear that

755
00:37:35,760 --> 00:37:37,759
Speaker 10: the President United States is the most important person in

756
00:37:37,800 --> 00:37:41,279
Speaker 10: the world, with very rare exceptions. And so you have

757
00:37:41,320 --> 00:37:44,040
Speaker 10: to say to yourself, why do people want that much responsibility?

758
00:37:44,080 --> 00:37:46,279
Speaker 10: You asked in the beginning, and think about it. John

759
00:37:46,360 --> 00:37:51,160
Speaker 10: Kennedy was assassinated, Linda Johnson driven out of office, Richard

760
00:37:51,239 --> 00:37:55,879
Speaker 10: Nixon in fact, had to force to resign. Gerald Ford

761
00:37:55,920 --> 00:38:00,000
Speaker 10: lost reelection, Jimmy Carter lost reelection. Ronald Reagan was almost assassin.

762
00:38:00,840 --> 00:38:03,600
Speaker 10: George Herbert Walker Bush not reelective. So you have to say,

763
00:38:03,600 --> 00:38:05,279
Speaker 10: why do people want to put themselves through this and

764
00:38:05,280 --> 00:38:07,440
Speaker 10: to be president? You have now spend two years campaigning

765
00:38:07,760 --> 00:38:11,319
Speaker 10: bad food, no exercise, no family contact, and it's not

766
00:38:11,360 --> 00:38:13,600
Speaker 10: a wonderful thing to do. But the reason is that

767
00:38:13,680 --> 00:38:15,919
Speaker 10: people who are ambitious say, I want to do something

768
00:38:15,920 --> 00:38:17,920
Speaker 10: to help my country. I want to show that I've

769
00:38:17,920 --> 00:38:20,839
Speaker 10: done something useful for society, and it's the ultimate job

770
00:38:20,880 --> 00:38:21,720
Speaker 10: in the world for sure.

771
00:38:21,840 --> 00:38:23,880
Speaker 2: Then after that big fight, you get there and you

772
00:38:23,960 --> 00:38:28,680
Speaker 2: realize the golden bars surround you. You talk to both

773
00:38:28,800 --> 00:38:32,080
Speaker 2: Joe Biden and Donald Trump, and I'm compelled, I believe.

774
00:38:32,120 --> 00:38:35,520
Speaker 2: On two pages facing each other, Donald Trump talked about

775
00:38:35,560 --> 00:38:37,560
Speaker 2: the loneliness you Austin, What does it like to be

776
00:38:37,640 --> 00:38:40,240
Speaker 2: in the White House? The loneliness? You asked Joe Biden,

777
00:38:40,520 --> 00:38:42,080
Speaker 2: is this as fun a job as you thought it

778
00:38:42,160 --> 00:38:43,480
Speaker 2: was going to be? He said, fun is not the

779
00:38:43,520 --> 00:38:45,799
Speaker 2: word that I would use. Maybe they have something in

780
00:38:45,840 --> 00:38:46,440
Speaker 2: common there.

781
00:38:46,920 --> 00:38:49,239
Speaker 10: Well, every president thinks it's lonely because in the end,

782
00:38:49,320 --> 00:38:52,080
Speaker 10: every major decision that the federal government has to make

783
00:38:52,480 --> 00:38:54,640
Speaker 10: and it's difficult, it gets the president because it was

784
00:38:54,719 --> 00:38:56,560
Speaker 10: easy to make a decision about something they would have

785
00:38:56,560 --> 00:39:00,239
Speaker 10: gotten incided by somebody else. Yeah, so they get and

786
00:39:00,239 --> 00:39:01,719
Speaker 10: it's said to be a very lonely job. And what

787
00:39:01,800 --> 00:39:04,080
Speaker 10: Donald Trump was referring to is that in several holidays

788
00:39:04,120 --> 00:39:06,160
Speaker 10: the government was more or less shut down. He had

789
00:39:06,160 --> 00:39:07,799
Speaker 10: to stay there to wait for the government to open

790
00:39:07,880 --> 00:39:10,000
Speaker 10: up and maybe sign a bill. So he didn't go

791
00:39:10,040 --> 00:39:11,400
Speaker 10: down to mar A Lago for I think it was

792
00:39:11,520 --> 00:39:14,200
Speaker 10: three of the four years he was in the White

793
00:39:14,239 --> 00:39:17,920
Speaker 10: House alone during the holidays. And you know, Joe Biden

794
00:39:17,920 --> 00:39:19,600
Speaker 10: has spent a fair amount of time there in long

795
00:39:19,600 --> 00:39:22,000
Speaker 10: hours as well. One of the reasons presidents like Camp

796
00:39:22,080 --> 00:39:24,719
Speaker 10: David is you can go there, you are with your

797
00:39:24,719 --> 00:39:27,760
Speaker 10: family typically, but you don't have all the Secret Service

798
00:39:27,800 --> 00:39:30,480
Speaker 10: watching you every second, you know, And it's not quite

799
00:39:30,640 --> 00:39:32,880
Speaker 10: the federal prison that the White House is often called

800
00:39:32,880 --> 00:39:35,040
Speaker 10: by people. Ronald Reagan said it was the I guess,

801
00:39:35,080 --> 00:39:38,040
Speaker 10: the high water mark of the federal penitentiary system. Because

802
00:39:38,080 --> 00:39:40,520
Speaker 10: when you're in the White House, everybody watches everything you do.

803
00:39:40,600 --> 00:39:43,600
Speaker 10: You can't walk around outside. It's a very complicated and

804
00:39:43,600 --> 00:39:46,800
Speaker 10: lonely job. But again, many people spend time trying to

805
00:39:46,800 --> 00:39:48,640
Speaker 10: get there, and a lot of people want that job.

806
00:39:49,120 --> 00:39:52,040
Speaker 9: Well, and Joe Biden wanted to keep the job up

807
00:39:52,120 --> 00:39:55,319
Speaker 9: until just recently. You spoke with him in April of

808
00:39:55,360 --> 00:39:57,920
Speaker 9: this year, so he still was attempting to seek a

809
00:39:57,960 --> 00:39:59,839
Speaker 9: second term at that time. Do you think the tenor

810
00:40:00,120 --> 00:40:02,960
Speaker 9: your conversation would have been different had he already made

811
00:40:03,000 --> 00:40:06,160
Speaker 9: the decision to not seek reelection and endorse Kamala Harrison?

812
00:40:06,360 --> 00:40:07,040
Speaker 13: Probably sure.

813
00:40:07,320 --> 00:40:08,719
Speaker 10: He thought he was going to be the nominee of

814
00:40:08,719 --> 00:40:10,160
Speaker 10: the party, and he wanted to be the nominee of

815
00:40:10,160 --> 00:40:12,640
Speaker 10: the party, and obviously events unfolded. When history of this

816
00:40:12,840 --> 00:40:16,200
Speaker 10: election is written, the two most consequential decisions I think

817
00:40:16,480 --> 00:40:19,800
Speaker 10: will be Donald Trump's decision to do an early debate,

818
00:40:20,120 --> 00:40:22,680
Speaker 10: because by doing an early debate, he in effect knocked

819
00:40:22,800 --> 00:40:24,960
Speaker 10: Biden out and therefore he now has an opponent that

820
00:40:25,000 --> 00:40:28,040
Speaker 10: might be tougher. And Joe Biden's decision to ask for

821
00:40:28,040 --> 00:40:30,560
Speaker 10: an early debate, because had he not had an early

822
00:40:30,600 --> 00:40:33,200
Speaker 10: debate and the debate was in September October would have

823
00:40:33,200 --> 00:40:36,399
Speaker 10: been too late to have him replaced, probably so both

824
00:40:36,400 --> 00:40:38,480
Speaker 10: of them will probably look back, depending who wins, and say,

825
00:40:38,560 --> 00:40:40,040
Speaker 10: maybe I shouldn't have had an early debate.

826
00:40:40,719 --> 00:40:44,800
Speaker 2: You dedicated this book in part to Ted Sorenson, which

827
00:40:44,800 --> 00:40:47,239
Speaker 2: is fascinating to me. Of course the force behind as

828
00:40:47,280 --> 00:40:51,920
Speaker 2: we've learned, Profiles and Courage, but also JFK's inaugural address

829
00:40:52,560 --> 00:40:56,680
Speaker 2: that we choose to go to the moon speech. Before

830
00:40:56,719 --> 00:41:00,200
Speaker 2: you joined us, Kayley and I were talking about in

831
00:41:00,280 --> 00:41:04,839
Speaker 2: seeding animals in Springfield, Ohio. What would Ted Sorenson make

832
00:41:04,880 --> 00:41:06,719
Speaker 2: of the rhetoric on this campaign.

833
00:41:07,800 --> 00:41:10,440
Speaker 10: Ted Sorenson, for those who don't know, was a very

834
00:41:10,480 --> 00:41:13,400
Speaker 10: young aide who worked for President Kennedy before that for

835
00:41:13,480 --> 00:41:16,400
Speaker 10: Senator Kennedy, and he was the person who was probably

836
00:41:16,520 --> 00:41:18,759
Speaker 10: very involved in writing let's say, Profiles and Courage. Ye

837
00:41:19,120 --> 00:41:21,920
Speaker 10: President Kennedy or then Senator Kennedy was ill, probably difficult

838
00:41:21,920 --> 00:41:24,040
Speaker 10: to write too much of it himself. And then the

839
00:41:24,040 --> 00:41:26,319
Speaker 10: inaugural dress, which I think was the greatest inaugur dress

840
00:41:26,360 --> 00:41:29,960
Speaker 10: of my lifetime, was written in large part by Ted Sorenson,

841
00:41:30,239 --> 00:41:31,239
Speaker 10: and I admired him.

842
00:41:31,280 --> 00:41:32,600
Speaker 13: I didn't think I could be a candidate.

843
00:41:32,640 --> 00:41:35,799
Speaker 10: I wasn't rich enough, smart enough, handsome enough, charming enough

844
00:41:35,800 --> 00:41:37,400
Speaker 10: to be a candidate, but I thought I could be

845
00:41:37,440 --> 00:41:40,000
Speaker 10: an advisor, and so he was the person I went

846
00:41:40,000 --> 00:41:42,400
Speaker 10: to work for when I practiced when I began practicing

847
00:41:42,480 --> 00:41:46,040
Speaker 10: law in New York. And I greatly admire him. I

848
00:41:46,440 --> 00:41:48,080
Speaker 10: was just with his widow the other night when I

849
00:41:48,120 --> 00:41:49,839
Speaker 10: was doing a talk about this book in New York.

850
00:41:50,239 --> 00:41:53,560
Speaker 10: And you know, Ted was an inspiration to me because

851
00:41:53,640 --> 00:41:55,520
Speaker 10: he knew how to write in a way that very

852
00:41:55,560 --> 00:41:57,160
Speaker 10: few people have been able to do since then. He

853
00:41:57,280 --> 00:41:58,680
Speaker 10: just had a way with words. And if you think

854
00:41:58,680 --> 00:42:01,839
Speaker 10: of the inaugural address to Kennedy, ask not what your

855
00:42:01,880 --> 00:42:03,360
Speaker 10: country can do for you, but what you can do

856
00:42:03,400 --> 00:42:05,319
Speaker 10: for your country. Those are words that you know are

857
00:42:05,320 --> 00:42:07,280
Speaker 10: going to ring with us for the rest of our lives.

858
00:42:07,600 --> 00:42:10,040
Speaker 2: Would he see this as a world in which political

859
00:42:10,120 --> 00:42:14,480
Speaker 2: rhetoric has regressed? Though these are poetic, iconic speeches you're

860
00:42:14,520 --> 00:42:16,440
Speaker 2: talking about, turned to twenty twenty four.

861
00:42:17,719 --> 00:42:20,880
Speaker 10: We don't value presidential rhetoric in quite the way that

862
00:42:20,960 --> 00:42:23,080
Speaker 10: we probably used to. You know, we used to talk

863
00:42:23,120 --> 00:42:27,920
Speaker 10: about great presidential speeches. Lincoln's second inaugural dress, FDR's inaugural address,

864
00:42:28,080 --> 00:42:31,640
Speaker 10: the first one, or Kennedy's inaugur dress, today we often

865
00:42:31,680 --> 00:42:34,240
Speaker 10: don't focus on the rhetoric as much or the speeches

866
00:42:34,280 --> 00:42:37,759
Speaker 10: because the craftsmanship is not quite as fine tune. But

867
00:42:37,760 --> 00:42:40,240
Speaker 10: there's not as much emphasis on it being fine tuned.

868
00:42:40,680 --> 00:42:42,560
Speaker 10: People just wanted to know what is the president going

869
00:42:42,600 --> 00:42:43,719
Speaker 10: to do, what's he going to do for me, and

870
00:42:43,719 --> 00:42:45,760
Speaker 10: that kind of thing. And it's a different world. Remember

871
00:42:45,800 --> 00:42:49,160
Speaker 10: when when John Kenny gave his speech inaugural address. In

872
00:42:49,200 --> 00:42:51,960
Speaker 10: those days, there was no internet, there was no social media.

873
00:42:52,880 --> 00:42:55,720
Speaker 10: The evening news shows for fifteen minutes. There were three networks,

874
00:42:55,719 --> 00:42:57,640
Speaker 10: each one did fifteen minutes a night, and then the

875
00:42:57,680 --> 00:42:59,600
Speaker 10: only papers that people cared about were the Washington Post

876
00:42:59,600 --> 00:43:01,960
Speaker 10: in the York. There was no other way to worry

877
00:43:02,000 --> 00:43:06,480
Speaker 10: about conveying ideas, and so it was a different world today.

878
00:43:06,480 --> 00:43:08,080
Speaker 10: If you're President of the United States, you're working in

879
00:43:08,120 --> 00:43:10,600
Speaker 10: the White House every minute, you have to focus on

880
00:43:10,640 --> 00:43:12,759
Speaker 10: social media, who's saying what, and you have to be

881
00:43:12,880 --> 00:43:14,880
Speaker 10: attuned to what's going all around the world, and you

882
00:43:14,960 --> 00:43:18,840
Speaker 10: never really are free from social media or TV networks

883
00:43:18,880 --> 00:43:19,799
Speaker 10: never well.

884
00:43:19,840 --> 00:43:21,680
Speaker 9: And that's one of the ways in which the office

885
00:43:21,760 --> 00:43:24,239
Speaker 9: perhaps has changed, is you look from George Washington to

886
00:43:24,320 --> 00:43:27,160
Speaker 9: present day. One thing, though, has remained the same. Every

887
00:43:27,200 --> 00:43:29,560
Speaker 9: single person you talk about in this book is a

888
00:43:29,560 --> 00:43:34,240
Speaker 9: man that potentially could change. If Kamala Harris wins in November,

889
00:43:34,280 --> 00:43:36,960
Speaker 9: does that change the nature of the office once what

890
00:43:37,080 --> 00:43:40,480
Speaker 9: Hillary Clinton called that highest glass ceiling has actually been shattered.

891
00:43:40,640 --> 00:43:43,919
Speaker 10: Of course, you think about it. We've had forty six

892
00:43:43,960 --> 00:43:48,239
Speaker 10: men serve in this position, no women. Interestingly, when the

893
00:43:48,239 --> 00:43:50,680
Speaker 10: country was set up, women weren't even allowed to vote

894
00:43:50,840 --> 00:43:53,480
Speaker 10: or in any way participate in government. We obviously changed

895
00:43:53,480 --> 00:43:56,840
Speaker 10: that with the nine Amendment. It is amazing that you

896
00:43:56,920 --> 00:43:59,680
Speaker 10: have more than half the population's female, but we still

897
00:43:59,719 --> 00:44:01,759
Speaker 10: have an and had a female president. We may well

898
00:44:01,800 --> 00:44:04,719
Speaker 10: this time, who knows. I think Hillary Clinton came as

899
00:44:04,719 --> 00:44:07,279
Speaker 10: close as any woman has ever come, because had she

900
00:44:07,400 --> 00:44:09,160
Speaker 10: won one or two more states, she would have been

901
00:44:09,160 --> 00:44:11,239
Speaker 10: president of United States and we would have broken that

902
00:44:11,719 --> 00:44:12,400
Speaker 10: glass ceiling.

903
00:44:13,400 --> 00:44:15,239
Speaker 3: I'd love to hear your view on this race. Now.

904
00:44:15,239 --> 00:44:17,000
Speaker 2: Everybody wants to know what's on your mind, and I'm

905
00:44:17,000 --> 00:44:18,920
Speaker 2: sure there are some things you can tell us and

906
00:44:18,960 --> 00:44:20,920
Speaker 2: maybe you don't want to share, but you understand the

907
00:44:20,960 --> 00:44:22,280
Speaker 2: conversation on Wall Street.

908
00:44:22,960 --> 00:44:24,840
Speaker 3: What is the great fear right.

909
00:44:24,680 --> 00:44:26,960
Speaker 2: Now when it comes to Kamala Harris is that the

910
00:44:27,040 --> 00:44:32,240
Speaker 2: idea of taxing capital gains on unrealized gains. Wall Street

911
00:44:32,239 --> 00:44:35,120
Speaker 2: seems to be more comfortable with the idea of Trump,

912
00:44:35,239 --> 00:44:38,359
Speaker 2: despite pretty well performing stock market under the Biden administration.

913
00:44:38,920 --> 00:44:40,880
Speaker 10: Well, I'll tell you what I think people think, but

914
00:44:40,920 --> 00:44:43,040
Speaker 10: I don't want to say these are my views necessarily,

915
00:44:43,120 --> 00:44:46,040
Speaker 10: But people on Wall Street, and remember Wall Street generally

916
00:44:46,080 --> 00:44:49,279
Speaker 10: is focused on the stock market and making money and

917
00:44:49,320 --> 00:44:52,359
Speaker 10: other things, not kind of values that a president might have.

918
00:44:52,840 --> 00:44:56,200
Speaker 10: But they're worried that taxes will go up on businesses

919
00:44:56,200 --> 00:44:59,480
Speaker 10: and wealthy businesses. They're worried that and wealthy individuals. They're

920
00:44:59,480 --> 00:45:02,680
Speaker 10: worried that the regulatory environment will be very harsh. The

921
00:45:02,719 --> 00:45:04,839
Speaker 10: anti trust environment has not been favorable for a lot

922
00:45:04,840 --> 00:45:06,880
Speaker 10: of M and A A transactions, and they're worried that

923
00:45:06,920 --> 00:45:09,800
Speaker 10: it might continue that way. They're worried that the people

924
00:45:09,840 --> 00:45:13,480
Speaker 10: that she might put into regulatory positions might be tougher

925
00:45:13,520 --> 00:45:15,600
Speaker 10: own business than even the ones that Joe Biden put in.

926
00:45:15,800 --> 00:45:17,040
Speaker 13: So that's what they're worried about.

927
00:45:17,080 --> 00:45:19,120
Speaker 10: I'm not sure I share all those worries, but I

928
00:45:19,120 --> 00:45:20,920
Speaker 10: think many people on Wall Street saying, look, we have

929
00:45:20,960 --> 00:45:22,560
Speaker 10: to hedge our bets, and Wall Street is all about

930
00:45:22,560 --> 00:45:24,920
Speaker 10: hedging right. So they are focused very much on the

931
00:45:24,960 --> 00:45:28,520
Speaker 10: Senate because the Senate can very well go Republican. You

932
00:45:28,600 --> 00:45:30,360
Speaker 10: only need to switch one or two seats if we

933
00:45:30,400 --> 00:45:32,600
Speaker 10: go Republican. And so if the Senate were to go

934
00:45:32,680 --> 00:45:35,200
Speaker 10: Republican and with the filler buster rules, I think many

935
00:45:35,239 --> 00:45:37,960
Speaker 10: people in Wall Street who don't like Kamala Harris would say, well,

936
00:45:37,960 --> 00:45:39,720
Speaker 10: we can block almost anything through the Senate.

937
00:45:40,360 --> 00:45:42,520
Speaker 9: Well, and that's what we have to keep reminding ourselves

938
00:45:42,600 --> 00:45:45,320
Speaker 9: is we get these various policy proposals from these candidates,

939
00:45:45,360 --> 00:45:47,120
Speaker 9: there is only so much they can do on their

940
00:45:47,160 --> 00:45:50,280
Speaker 9: own without Congress backing them. So it's important to remind

941
00:45:50,320 --> 00:45:54,080
Speaker 9: ourselves of rules that have to be followed as far

942
00:45:54,120 --> 00:45:55,799
Speaker 9: as how legislating goes. I want to ask you about

943
00:45:55,800 --> 00:45:58,520
Speaker 9: a rule completely unrelated to politics though, but related to

944
00:45:58,640 --> 00:46:01,000
Speaker 9: of course your interest in sports. Is an owner of

945
00:46:01,040 --> 00:46:03,320
Speaker 9: teams like the Orioles. There's a new rule in the

946
00:46:03,400 --> 00:46:06,200
Speaker 9: NFL that allows private equity. In Bloomberg's reporting today, the

947
00:46:06,320 --> 00:46:09,840
Speaker 9: chargers that Dolphins are now getting interest. Is this something

948
00:46:09,880 --> 00:46:11,720
Speaker 9: you're looking at, David Well.

949
00:46:11,560 --> 00:46:14,480
Speaker 10: I would say that it was public publicly disclosed that

950
00:46:14,520 --> 00:46:17,040
Speaker 10: the firm that I'm the co chairman of Carlisle is

951
00:46:17,080 --> 00:46:19,160
Speaker 10: part of a consortion that has been authorized by the

952
00:46:19,239 --> 00:46:21,720
Speaker 10: NFL to buy stakes that go up to ten percent.

953
00:46:22,120 --> 00:46:24,480
Speaker 10: And so all I can say is what's been said

954
00:46:24,520 --> 00:46:26,720
Speaker 10: already in the press. But I do think that sports

955
00:46:26,800 --> 00:46:28,719
Speaker 10: have been a very attractive investment for the last couple

956
00:46:28,760 --> 00:46:31,080
Speaker 10: of years. Very few people have made major sports investments

957
00:46:31,120 --> 00:46:33,720
Speaker 10: that have lost money. Now, some people say it's a bubble,

958
00:46:34,000 --> 00:46:36,600
Speaker 10: it can't keep going on this way. The other hand,

959
00:46:37,160 --> 00:46:39,239
Speaker 10: nobody seems to be running away from the bubble. And

960
00:46:39,280 --> 00:46:41,400
Speaker 10: one of the reasons is that sports is now global

961
00:46:42,000 --> 00:46:45,360
Speaker 10: and because betting has occurred, and betting is now very popular.

962
00:46:45,520 --> 00:46:48,160
Speaker 10: Betting has fueled, I think, interest in sports, and so

963
00:46:48,239 --> 00:46:50,160
Speaker 10: people are much more interested in sports than when I

964
00:46:50,239 --> 00:46:52,120
Speaker 10: was a child because there's betting involved.

965
00:46:52,200 --> 00:46:53,919
Speaker 13: Is in addition to rooting for your home team.

966
00:46:54,280 --> 00:46:56,920
Speaker 10: So, as you know, I bought the Bottom Oriols or

967
00:46:56,920 --> 00:46:59,799
Speaker 10: control of the Bottom Oriols with partners recently, and I'm

968
00:46:59,800 --> 00:47:01,399
Speaker 10: now learning the ins and outs of what it means

969
00:47:01,400 --> 00:47:03,200
Speaker 10: to be a sports owner. And you know, every time

970
00:47:03,200 --> 00:47:06,480
Speaker 10: we win, I'm feeling deliriously happy that I'm you know,

971
00:47:06,680 --> 00:47:08,400
Speaker 10: and when we lose, I feel like the dagger in

972
00:47:08,440 --> 00:47:10,840
Speaker 10: my heart, and so you know, I wish I you know,

973
00:47:10,880 --> 00:47:13,239
Speaker 10: I was a junior. I was a Little League All

974
00:47:13,239 --> 00:47:15,200
Speaker 10: Star when I was eight years old. I feel like

975
00:47:15,239 --> 00:47:16,680
Speaker 10: going into the players and say, look, let me tell

976
00:47:16,680 --> 00:47:18,160
Speaker 10: you what I learned when I was eight years old

977
00:47:18,200 --> 00:47:19,600
Speaker 10: about how to hit or how to pitch. But they

978
00:47:19,600 --> 00:47:20,560
Speaker 10: don't seem that interested.

979
00:47:20,960 --> 00:47:23,439
Speaker 2: We only have a minute left. I'm a huge fan.

980
00:47:23,520 --> 00:47:25,399
Speaker 2: I know you are too, Kailey of peer to peer.

981
00:47:26,360 --> 00:47:28,839
Speaker 2: I know what my favorite episodes are. What's been your

982
00:47:28,840 --> 00:47:30,320
Speaker 2: favorite interview in this experiment?

983
00:47:30,680 --> 00:47:33,080
Speaker 10: When I did Oprah, it was pretty interesting because she

984
00:47:33,120 --> 00:47:35,040
Speaker 10: said to be a great interviewer. She says, I'm not

985
00:47:35,040 --> 00:47:37,319
Speaker 10: a great interviewer, I'm a great listener. And she's right

986
00:47:37,360 --> 00:47:39,759
Speaker 10: because you have to learn to what person is saying

987
00:47:39,760 --> 00:47:42,239
Speaker 10: and then pivot. And that was really interesting. I did

988
00:47:42,280 --> 00:47:45,040
Speaker 10: George Bush and Bill Clinton together one time and that was,

989
00:47:45,200 --> 00:47:47,799
Speaker 10: I think, really good. And Warren Buffett was great when

990
00:47:47,800 --> 00:47:50,440
Speaker 10: I did him. So I like all my interviews. It's

991
00:47:50,480 --> 00:47:52,839
Speaker 10: like I luck all my children, right, So I don't

992
00:47:52,880 --> 00:47:54,480
Speaker 10: think anyone is more of a favorite. But what I

993
00:47:54,560 --> 00:47:56,560
Speaker 10: like the best is when I know the person reasonably

994
00:47:56,560 --> 00:47:58,640
Speaker 10: well yeah, and when I have you try to use

995
00:47:58,640 --> 00:48:01,040
Speaker 10: my sense of humor, they along with it. You know,

996
00:48:01,080 --> 00:48:03,520
Speaker 10: when somebody it doesn't pick up that I'm asking a joke,

997
00:48:04,000 --> 00:48:05,640
Speaker 10: it's not as much fun. So like when I asked

998
00:48:05,640 --> 00:48:07,440
Speaker 10: one time Bill Gates, do you think of he had

999
00:48:07,440 --> 00:48:09,600
Speaker 10: a college degree, you might be more successful in life?

1000
00:48:09,640 --> 00:48:11,200
Speaker 13: He didn't get that it was a joke and he

1001
00:48:11,239 --> 00:48:13,920
Speaker 13: gave a serious answer. So you know, I like people

1002
00:48:13,920 --> 00:48:14,879
Speaker 13: that can pick up on the joke.

1003
00:48:15,000 --> 00:48:18,200
Speaker 3: Sometimes that's great. The humor goes a long way around here.

1004
00:48:18,280 --> 00:48:20,160
Speaker 2: I have to say, by the way, the McDonald's CEO,

1005
00:48:20,239 --> 00:48:21,439
Speaker 2: why does the coke taste better?

1006
00:48:21,480 --> 00:48:21,680
Speaker 1: At that?

1007
00:48:21,920 --> 00:48:24,000
Speaker 2: I learned something whenever I watch Peer to here. David

1008
00:48:24,080 --> 00:48:26,239
Speaker 2: Rubinstein a great treat to have you at the table.

1009
00:48:26,280 --> 00:48:29,160
Speaker 2: Congrats on the book. It's called the highest calling Conversations

1010
00:48:29,480 --> 00:48:35,560
Speaker 2: on the American Presidency. Thanks for listening to the Balance

1011
00:48:35,600 --> 00:48:39,240
Speaker 2: of Power podcast. Make sure to subscribe if you haven't already,

1012
00:48:39,239 --> 00:48:42,560
Speaker 2: at Apple, Spotify, or wherever you get your podcasts, and

1013
00:48:42,640 --> 00:48:45,239
Speaker 2: you can find us live every weekday from Washington, DC

1014
00:48:45,400 --> 00:48:48,120
Speaker 2: at noontime Eastern at Bloomberg dot com.