Speaker 1: Bloomberg Audio Studios, Podcasts, radio news.
Speaker 2: Carol Masterlow with Romain Bostik here at Milkin in Beverly Hills.
Speaker 2: Right now, we've got David Rubinstein, Carlisle Group co chairman,
Speaker 2: co founder and host, of course of The David Rubinstein
Speaker 2: Show here to beer conversations, appearing on Bloomberg. He's also
Speaker 2: a principal owner of Major League Baseball's Baltimore Orioles. We
Speaker 2: always like to point that out.
Speaker 1: It is so loud here. You know, we've been doing
Speaker 1: this all day. You come up here right and you're
Speaker 1: the only person we want to talk to. Kail is
Speaker 1: about that, you know, in all serious and so David,
Speaker 1: we want to know what you think about some of
Speaker 1: the comments that we heard from Scott Bessett earlier today
Speaker 1: and his message to investors. Did that message resonate with you?
Speaker 3: I think he did a very good job. Yeah. Obviously
Speaker 3: the business people have.
Speaker 4: Been concerned about tariffs and not knowing where it's going
Speaker 4: to go. He came out and basically more or less
Speaker 4: repeated what he had said in the Wall Street Journal
Speaker 4: article today, which is their three elements of the economic program.
Speaker 3: One is tariffs, the other's tax cuts.
Speaker 4: The other's deregulation, and I think he did a really
Speaker 4: good job of explaining why all three meshed together. Now
Speaker 4: they have to get these things done. But if they
Speaker 4: can get the tax cut through, they can get the
Speaker 4: deregulation they want through. I think the business community be
Speaker 4: reasonably happy. The tariffs is still a bit of a
Speaker 4: problem for the business comunitees. Theyn't fully understand what the
Speaker 4: endgame is, but I think Scott Best did a pretty
Speaker 4: good job.
Speaker 1: Obviously, Carlisle has a huge presence in Washington. You know
Speaker 1: how that city works. The business friendly administration that was
Speaker 1: promised during the campaign. Is that still intact or is
Speaker 1: that still going to show up.
Speaker 4: I think the business community by and large is willing
Speaker 4: to give the Trump administration the benefit of the doubt.
Speaker 4: Because the business community could extent that business people tend
Speaker 4: to be CEOs and not say investors and Republican Perhaps
Speaker 4: they want to have this administration succeed.
Speaker 3: They're a little bit confused.
Speaker 4: About the tariffs, but I think they're willing to give
Speaker 4: the benefit of doubt to the administration. Now, the tax
Speaker 4: cut bill is what people are focused on, and I
Speaker 4: will interview on a Bloomberg show soon. The chairman of
Speaker 4: the of the House Ways and Means Committee, Jason Smith,
Speaker 4: and they are starting them, getting ready to have hearings
Speaker 4: and mark up that bill. And whether that bill goes
Speaker 4: in the direction the Business Committee wants, we don't know,
Speaker 4: but I think the tax cuts or what the administration
Speaker 4: thinks is going to happen.
Speaker 3: The question is can you really afford it?
Speaker 2: Well, that's what I want to ask you, David. Can
Speaker 2: we afford with the deficit?
Speaker 3: You can afford it.
Speaker 4: If you depends on how you mate massage the numbers.
Speaker 4: There's a four trillion dollar number that they haven't figured
Speaker 4: out how to deal with yet, which is to say
Speaker 4: they want to make certain tax cuts permanent but not
Speaker 4: count the four trillion dollars as part of the deficit.
Speaker 4: That's an unusual thing to do. Maybe they can get
Speaker 4: away with it.
Speaker 3: I don't know.
Speaker 1: Are the people you're talking to though, whether it's on
Speaker 1: your shows on Bloomberg, whether it's privately with regards to
Speaker 1: your business, are they still optimistic?
Speaker 4: Business people by and large, tend to be optimistic by nature.
Speaker 4: They don't think things are going to be better than
Speaker 4: things are not going to be good.
Speaker 3: So I think.
Speaker 4: People are hoping that the administration could get the tax
Speaker 4: cut bill through the deregulation through. They hope that somebody
Speaker 4: can come along and get some of these tariffs agreements
Speaker 4: agreed to. I think Scott Descent is a really smart guy.
Speaker 4: I think he's done a pretty good job so far
Speaker 4: representing the administration. I think he's their best voice on
Speaker 4: the economy by far.
Speaker 1: Has anyone approached you about being involved in this administration,
Speaker 1: whether an informal or informal.
Speaker 3: I think that's not likely.
Speaker 4: This administration fired me from being chairman of the Chemnty Centers.
Speaker 4: I think probably I'm not diverse choice, but no, I
Speaker 4: think my days of being the government are probably behind us.
Speaker 1: All right, David, really appreciate you top thanks a lot here, Dave, Okay,
Speaker 1: you're a good sport.
Speaker 3: Thank you, Thank you so much.
Speaker 1: Carlisle Group co founder and co chairman. Also, of course,
Speaker 1: the hosts of the show period A Peer Conversations right
Speaker 1: here on boomber