1
00:00:01,639 --> 00:00:06,160
Speaker 1: Now from our nation's capital. This is Floomberg Sound On.

2
00:00:07,000 --> 00:00:10,360
Speaker 1: Today we received news that our economy had zero percent

3
00:00:10,440 --> 00:00:13,640
Speaker 1: inflation in the month of July. He might rip it

4
00:00:13,640 --> 00:00:15,320
Speaker 1: in half and throw the one we weren't using on

5
00:00:15,360 --> 00:00:17,160
Speaker 1: the floor, and we would have somebody come in and

6
00:00:17,160 --> 00:00:20,799
Speaker 1: take it back together. Floomberg Sound on Politics, Policy, and

7
00:00:20,880 --> 00:00:24,400
Speaker 1: perspective from DC's top names. I was going to get

8
00:00:24,440 --> 00:00:27,000
Speaker 1: this done, come hell or high water. We believe in

9
00:00:27,040 --> 00:00:29,800
Speaker 1: the rule of law, and that's where our country is agut.

10
00:00:30,040 --> 00:00:32,839
Speaker 1: I believed he was gonna run before. I'm a stronger

11
00:00:32,840 --> 00:00:37,640
Speaker 1: in my belief now, Bloomberg Sound On with Joe Matthew

12
00:00:38,040 --> 00:00:43,479
Speaker 1: on Bloomberg Radio. It might be ridiculously hot outside, but

13
00:00:43,560 --> 00:00:47,080
Speaker 1: inflation is cooling. The CPI number out this morning was

14
00:00:47,159 --> 00:00:50,520
Speaker 1: eight point five. We're gonna hear more from Wisconsin Congressman

15
00:00:50,680 --> 00:00:54,320
Speaker 1: Brian's Style on his reaction to that news. Plus, Donald

16
00:00:54,320 --> 00:00:56,680
Speaker 1: Trump was in the hot seat again today pleading the

17
00:00:56,760 --> 00:00:59,400
Speaker 1: fits during a live deposition in a New York case

18
00:00:59,600 --> 00:01:03,840
Speaker 1: involved in his real estate business. And then we're gonna

19
00:01:03,880 --> 00:01:07,240
Speaker 1: we had another round of mid term elections yesterday. What

20
00:01:07,280 --> 00:01:10,760
Speaker 1: do they tell us about November. I'm Emily Wilkins filling

21
00:01:10,800 --> 00:01:13,560
Speaker 1: in for Joe Matthew today for the fastest hour in politics.

22
00:01:13,760 --> 00:01:17,120
Speaker 1: So obviously big story today, that's CPI report. Inflation is

23
00:01:17,160 --> 00:01:20,160
Speaker 1: still high, but not as high as it was last month,

24
00:01:20,240 --> 00:01:24,039
Speaker 1: all onta eight point five percent gas, airfares, those prices

25
00:01:24,080 --> 00:01:28,120
Speaker 1: are down, but cost of rent, cost of food that's

26
00:01:28,120 --> 00:01:31,000
Speaker 1: still climbing. Inflation has remained a top issues for voters

27
00:01:31,240 --> 00:01:34,960
Speaker 1: throughout this year, and we know from the nonpartisan Congressional

28
00:01:34,959 --> 00:01:38,600
Speaker 1: Budget Office that we can expect high inflation to persist

29
00:01:38,720 --> 00:01:42,440
Speaker 1: into three with us now to discuss this and other issues.

30
00:01:42,480 --> 00:01:46,640
Speaker 1: As Congressman Brian Style, Wisconsin Republican Congressman, thank you so

31
00:01:46,760 --> 00:01:49,960
Speaker 1: much for joining sound On. Absolutely thanks for having me on.

32
00:01:50,160 --> 00:01:52,360
Speaker 1: I wanted to just sort of jump right into it,

33
00:01:52,480 --> 00:01:55,440
Speaker 1: start talking about the big news of the day, obviously

34
00:01:55,560 --> 00:01:58,560
Speaker 1: the CPI numbers, and I want to get your sense

35
00:01:58,560 --> 00:02:01,440
Speaker 1: of what the takeaway is. Obviously, the report this morning

36
00:02:01,480 --> 00:02:05,160
Speaker 1: showed that inflation is slightly down to eight point five

37
00:02:06,160 --> 00:02:09,880
Speaker 1: Is this a good sign? It's it's good that it's down,

38
00:02:10,040 --> 00:02:12,680
Speaker 1: but when we dig into the numbers, I don't think

39
00:02:12,760 --> 00:02:15,560
Speaker 1: it gives a lot of confidence that long term we're

40
00:02:15,600 --> 00:02:17,520
Speaker 1: moving in the right direction. What do I mean by

41
00:02:17,520 --> 00:02:20,960
Speaker 1: that We look and see that energy prices are down,

42
00:02:21,000 --> 00:02:24,560
Speaker 1: but not because supply is up, but because demand is down,

43
00:02:24,600 --> 00:02:27,320
Speaker 1: as if we're already in a recession. And so I

44
00:02:27,400 --> 00:02:31,000
Speaker 1: remain concerned about the broader impact that this is going

45
00:02:31,040 --> 00:02:33,639
Speaker 1: to have on our economy, that our economy, which is

46
00:02:33,720 --> 00:02:38,000
Speaker 1: contracted last quarter, we may continue to see that going forward.

47
00:02:38,080 --> 00:02:40,359
Speaker 1: What we need to do is work in Washington, d C.

48
00:02:40,600 --> 00:02:45,320
Speaker 1: To increase supply and predict in particularly unleashing American energy.

49
00:02:45,760 --> 00:02:48,600
Speaker 1: And what we're seeing from the Biden administration from one

50
00:02:48,680 --> 00:02:52,680
Speaker 1: party Democratic control is further taxes on oil and gas production,

51
00:02:52,960 --> 00:02:56,440
Speaker 1: which will only increase the end cost to consumers and

52
00:02:56,520 --> 00:02:59,120
Speaker 1: do nothing to address the supply constraints that we have

53
00:02:59,280 --> 00:03:02,000
Speaker 1: with American energy. I do want to ask about that

54
00:03:02,040 --> 00:03:05,400
Speaker 1: a little bit, because you did see legislation passed recently

55
00:03:05,720 --> 00:03:10,519
Speaker 1: that deals with funding for semiconductor semiconductor manufacturing. You're seeing

56
00:03:10,639 --> 00:03:13,080
Speaker 1: a legislation that's going to be voted on in the

57
00:03:13,080 --> 00:03:16,720
Speaker 1: House on Friday dealing with tax credits for various renewable

58
00:03:16,880 --> 00:03:19,880
Speaker 1: energy sources as well as other things that are meant

59
00:03:19,880 --> 00:03:22,640
Speaker 1: to lower some costs. I mean, aren't those bills meant

60
00:03:22,680 --> 00:03:26,120
Speaker 1: to bolster the supply side of things. What we're seeing

61
00:03:26,200 --> 00:03:31,200
Speaker 1: is government subsidies in specific industries, green energy, chips, other

62
00:03:31,360 --> 00:03:34,400
Speaker 1: key sectors in the economy. But what we need to

63
00:03:34,400 --> 00:03:38,400
Speaker 1: be working on in Washington is the fundamentals of economic

64
00:03:38,480 --> 00:03:41,640
Speaker 1: growth to allow this to be a sustainable growth And

65
00:03:41,720 --> 00:03:44,160
Speaker 1: one of the challenges we see is a refusal to

66
00:03:44,240 --> 00:03:46,840
Speaker 1: unleashed American energy, which is a key component of the

67
00:03:46,840 --> 00:03:51,280
Speaker 1: inflationary pressure people are feeling. Further, they're actually raising taxes

68
00:03:51,320 --> 00:03:53,920
Speaker 1: on a whole host of businesses. Is going to come

69
00:03:54,240 --> 00:03:58,040
Speaker 1: in impact everyday Americans, whether or not that's a that's

70
00:03:58,080 --> 00:04:00,520
Speaker 1: a tax on stock buy back that's going to hurt

71
00:04:00,560 --> 00:04:04,120
Speaker 1: American retirement accounts, whether or not that's the tax on

72
00:04:04,320 --> 00:04:07,120
Speaker 1: domestic production of oil and natural gas, which people are

73
00:04:07,160 --> 00:04:09,640
Speaker 1: going to feel when they're heating their homes this upcoming

74
00:04:09,640 --> 00:04:12,560
Speaker 1: winter or filling up their car with gas this summer.

75
00:04:12,640 --> 00:04:14,560
Speaker 1: And so I continue to see the policies move in

76
00:04:14,600 --> 00:04:18,440
Speaker 1: the wrong direction. Simply subsidizing key sectors does not make

77
00:04:18,440 --> 00:04:21,960
Speaker 1: a sustainable growth pattern in the United States. Congressman, talk

78
00:04:22,000 --> 00:04:24,119
Speaker 1: with me a little bit about what Republicans are thinking.

79
00:04:24,160 --> 00:04:26,200
Speaker 1: I know that right now you're working on a larger

80
00:04:26,360 --> 00:04:29,720
Speaker 1: policy plan. Obviously, there is a really good chance right

81
00:04:29,760 --> 00:04:31,680
Speaker 1: now that Republicans will be in the majority in the

82
00:04:31,680 --> 00:04:34,800
Speaker 1: House next year and be able to implement things I think,

83
00:04:34,920 --> 00:04:37,800
Speaker 1: you know, we we could be easily see inflation still

84
00:04:37,880 --> 00:04:41,520
Speaker 1: at a very high level. Uh, if Republicans get the

85
00:04:41,520 --> 00:04:44,719
Speaker 1: gavel and control next year. So what are Republicans going

86
00:04:44,800 --> 00:04:47,280
Speaker 1: to do to address some of this inflation and make

87
00:04:47,279 --> 00:04:50,000
Speaker 1: sure that that we're not going into a recession? Well,

88
00:04:50,040 --> 00:04:54,239
Speaker 1: I a great question in one is unleashing American energy.

89
00:04:54,279 --> 00:04:56,640
Speaker 1: We referenced that too. We need to make sure that

90
00:04:56,720 --> 00:05:00,200
Speaker 1: businesses are in a position to increase supply across us

91
00:05:00,240 --> 00:05:03,560
Speaker 1: the board, and so as we've seen from this administration,

92
00:05:03,600 --> 00:05:06,400
Speaker 1: we've seen constraints in particular in the supply chain. We

93
00:05:06,480 --> 00:05:09,960
Speaker 1: need to be allowing businesses to go out to hire people,

94
00:05:10,040 --> 00:05:13,600
Speaker 1: to bring workers in from the sidelines, changing those key

95
00:05:13,680 --> 00:05:16,839
Speaker 1: social policies that have left far too many workers on

96
00:05:16,920 --> 00:05:19,760
Speaker 1: the sidelines. And then we need to do a broader

97
00:05:19,760 --> 00:05:22,480
Speaker 1: approach here of unwinding a lot of the COVID era

98
00:05:22,600 --> 00:05:27,200
Speaker 1: policies that are still impacting Americans every day. That's everything

99
00:05:27,279 --> 00:05:30,480
Speaker 1: from addressing ways that we can look at the social

100
00:05:30,480 --> 00:05:34,080
Speaker 1: safety net structures that were altered during the COVID period.

101
00:05:34,160 --> 00:05:36,600
Speaker 1: How do we unwind those to help workers get back

102
00:05:36,800 --> 00:05:40,600
Speaker 1: up and on their feet and sustainably into the middle class.

103
00:05:40,960 --> 00:05:44,080
Speaker 1: How do we unwind the tax policies that this administration

104
00:05:44,200 --> 00:05:48,520
Speaker 1: is moving forward by increasing their increasing taxes on businesses

105
00:05:48,720 --> 00:05:50,839
Speaker 1: and all Americans. I think we should be doing the

106
00:05:50,839 --> 00:05:53,919
Speaker 1: opposite of particular during a period of time of recession

107
00:05:53,960 --> 00:05:56,520
Speaker 1: which we are seeing ourselves in. I'm wondering if you

108
00:05:56,560 --> 00:05:59,360
Speaker 1: do think that there is something to be said about

109
00:05:59,400 --> 00:06:03,560
Speaker 1: the renewable energies that we are seeing being promoted in

110
00:06:03,600 --> 00:06:05,520
Speaker 1: the bill on Friday. And no, obviously that Republicans are

111
00:06:05,560 --> 00:06:07,720
Speaker 1: not supporting the bill. Republicans will not be voting for

112
00:06:07,760 --> 00:06:10,400
Speaker 1: the bill. But at the same point, I've spoken with

113
00:06:10,400 --> 00:06:14,320
Speaker 1: with folks in your in your conference, including Congressman Garrett Graves,

114
00:06:14,400 --> 00:06:17,320
Speaker 1: who feels like there is some spot for renewables. How

115
00:06:17,360 --> 00:06:20,000
Speaker 1: are you thinking about that we need an all of

116
00:06:20,040 --> 00:06:23,800
Speaker 1: the above energy approach. There's absolutely in need for additional

117
00:06:23,839 --> 00:06:26,040
Speaker 1: sources of clean energy. There needs to be more win,

118
00:06:26,240 --> 00:06:29,200
Speaker 1: more solar, and we could go down the line. The

119
00:06:29,360 --> 00:06:33,919
Speaker 1: key is that market fundamentals need to be driving this movement. Forward,

120
00:06:34,000 --> 00:06:37,159
Speaker 1: not simply government subsidies, and so I'm a I'm a

121
00:06:37,200 --> 00:06:39,960
Speaker 1: believer that there probably will be more electric cars in

122
00:06:40,000 --> 00:06:42,359
Speaker 1: the future. I don't think it's the role of the

123
00:06:42,400 --> 00:06:45,960
Speaker 1: federal government to be subsidizing people who can afford a

124
00:06:46,000 --> 00:06:49,960
Speaker 1: sixty five dollar electric vehicle. I think that's the wrong approach.

125
00:06:50,000 --> 00:06:53,120
Speaker 1: I think that's an inappropriate use of taxpayer dollars. And

126
00:06:53,160 --> 00:06:55,640
Speaker 1: so I'm a believer that we do need in all

127
00:06:55,680 --> 00:06:58,039
Speaker 1: of the above energy approach, we're going to see more

128
00:06:58,120 --> 00:07:02,240
Speaker 1: investment in the mess to clean production of energy. But

129
00:07:02,480 --> 00:07:06,360
Speaker 1: simply working on the subsidy side rather than looking at

130
00:07:06,400 --> 00:07:08,880
Speaker 1: how we broadened the supply generally, I think it's the

131
00:07:08,880 --> 00:07:11,840
Speaker 1: wrong approach. I also want to ask you a little bit. Obviously,

132
00:07:11,960 --> 00:07:15,760
Speaker 1: there were elections last night in Wisconsin. Um, you easily

133
00:07:16,000 --> 00:07:19,760
Speaker 1: won your your primary, congratulations on that, but there were

134
00:07:19,800 --> 00:07:23,000
Speaker 1: a number of really contested races. I know that a

135
00:07:23,040 --> 00:07:26,280
Speaker 1: lot of big questions about the governor, about other other

136
00:07:26,760 --> 00:07:29,120
Speaker 1: seats in the in the in Wisconsin. What were your

137
00:07:29,160 --> 00:07:34,000
Speaker 1: sort of main takeaways from last night? The main takeaway

138
00:07:34,040 --> 00:07:36,880
Speaker 1: in Wisconsin to me is that people are ready to

139
00:07:36,920 --> 00:07:40,480
Speaker 1: move forward and talk about how do we unwind ourselves

140
00:07:40,520 --> 00:07:44,160
Speaker 1: from one party Democratic control in Washington and a Democratic

141
00:07:44,200 --> 00:07:47,960
Speaker 1: governor in Wisconsin that hasn't been good for workers. People

142
00:07:47,960 --> 00:07:50,000
Speaker 1: want to rip the band aid off the COVID era

143
00:07:50,080 --> 00:07:52,720
Speaker 1: policies that we've seen, some of the spending that we

144
00:07:52,800 --> 00:07:55,320
Speaker 1: have seen this driven the inflation. People want to get

145
00:07:55,640 --> 00:07:59,440
Speaker 1: spending under control. They want inflation under control. They want

146
00:07:59,440 --> 00:08:02,480
Speaker 1: to make sure, in particular in schools, that children are

147
00:08:02,880 --> 00:08:05,640
Speaker 1: being taught how to think, not what to think, and

148
00:08:05,640 --> 00:08:07,600
Speaker 1: that we keep our community safe. And so I think

149
00:08:07,600 --> 00:08:10,480
Speaker 1: we're going to have a robust national dialogue, in a

150
00:08:10,640 --> 00:08:13,680
Speaker 1: national dialogue taking place in the state Wisconsin as well,

151
00:08:14,120 --> 00:08:16,360
Speaker 1: about the direction of our country. And I think people

152
00:08:16,360 --> 00:08:19,160
Speaker 1: are ready to put a check on the Biden administration.

153
00:08:19,600 --> 00:08:21,120
Speaker 1: I also wanted to get your thoughts just on the

154
00:08:21,120 --> 00:08:24,880
Speaker 1: Senate race. There's been some criticism of the Republican who

155
00:08:24,880 --> 00:08:28,600
Speaker 1: currently has has a seat, Ron Johnson, just given some

156
00:08:28,640 --> 00:08:30,360
Speaker 1: of the statements that he's made that have been a

157
00:08:30,360 --> 00:08:35,240
Speaker 1: bit controversial on on covid uh, just on various conspiracy

158
00:08:35,280 --> 00:08:37,400
Speaker 1: theories kind of flying around, And I'm wondering if if

159
00:08:37,400 --> 00:08:39,760
Speaker 1: you can comment a little bit, if you think that

160
00:08:39,760 --> 00:08:42,320
Speaker 1: that kind of rhetoric is helpful for the Republican Party.

161
00:08:42,880 --> 00:08:45,360
Speaker 1: I think Ron Johnson is ultimately going to be successful,

162
00:08:45,360 --> 00:08:48,280
Speaker 1: and I think it's because he shares what's on his mind,

163
00:08:48,679 --> 00:08:50,800
Speaker 1: and so he shares the frustration. I think that a

164
00:08:50,840 --> 00:08:53,959
Speaker 1: lot of voters have what's taken place in our country

165
00:08:54,080 --> 00:08:57,280
Speaker 1: over the past two years, and so that frustration, I

166
00:08:57,320 --> 00:08:59,679
Speaker 1: think will show up on the polls that people want

167
00:08:59,679 --> 00:09:00,959
Speaker 1: to get our way of life back. They want to

168
00:09:01,040 --> 00:09:03,920
Speaker 1: rip off the bandit off these COVID era policies. They

169
00:09:03,920 --> 00:09:06,040
Speaker 1: want to get prices under control so they can afford

170
00:09:06,040 --> 00:09:08,480
Speaker 1: the things for their families. And so we're going to

171
00:09:08,559 --> 00:09:11,520
Speaker 1: have one of the major and most important U S

172
00:09:11,520 --> 00:09:14,840
Speaker 1: Senate races in the country. But I think when voters

173
00:09:14,840 --> 00:09:17,960
Speaker 1: walk into the polling boot, they're gonna want to return

174
00:09:18,360 --> 00:09:21,920
Speaker 1: to the life we had pre COVID rather than continuing

175
00:09:22,400 --> 00:09:25,120
Speaker 1: under this high inflationary environment that we've seen. I think

176
00:09:25,120 --> 00:09:26,800
Speaker 1: the result of that will be Rod Johnson will be

177
00:09:26,840 --> 00:09:29,840
Speaker 1: successful come November. But haven't we kind of already moved

178
00:09:29,880 --> 00:09:31,880
Speaker 1: past COVID. I mean, you and I are both on

179
00:09:31,960 --> 00:09:35,160
Speaker 1: Capitol Hill. The masks are off, their folks are back.

180
00:09:35,600 --> 00:09:38,240
Speaker 1: You know you're not. We're not having to even even

181
00:09:38,240 --> 00:09:41,280
Speaker 1: in d C show our vaccine cards that many places anymore.

182
00:09:41,600 --> 00:09:43,640
Speaker 1: I mean, wouldn't you say that that COVID is already

183
00:09:43,640 --> 00:09:46,720
Speaker 1: over and yet we're still struggling with this inflation. But

184
00:09:46,760 --> 00:09:49,000
Speaker 1: I would say it's a lot of the COVID era

185
00:09:49,120 --> 00:09:51,880
Speaker 1: policies that put us in the place that we are today.

186
00:09:51,960 --> 00:09:54,440
Speaker 1: I say, there's still a lot of the spending that's

187
00:09:54,520 --> 00:09:58,880
Speaker 1: related to COVID era spending policies that are still flowing

188
00:09:58,880 --> 00:10:02,720
Speaker 1: through the economy and having a significant impact. The so

189
00:10:02,880 --> 00:10:06,319
Speaker 1: called American Rescue Plan that was one point nine trillion

190
00:10:06,360 --> 00:10:10,439
Speaker 1: dollars of new government spending authorized just over now a

191
00:10:10,520 --> 00:10:12,880
Speaker 1: year and a half ago. But the reality of that

192
00:10:13,040 --> 00:10:16,160
Speaker 1: is that spending is going to continue for the next

193
00:10:16,240 --> 00:10:18,240
Speaker 1: eight years in front of us, and so we have

194
00:10:18,320 --> 00:10:21,160
Speaker 1: an opportunity to unwind many of these policies and get

195
00:10:21,160 --> 00:10:24,440
Speaker 1: spending under control. And so the fact that COVID is

196
00:10:24,480 --> 00:10:27,640
Speaker 1: beyond us and I believe we are from a health standpoint,

197
00:10:27,880 --> 00:10:30,880
Speaker 1: more or less. On the other side of it, I

198
00:10:30,920 --> 00:10:32,880
Speaker 1: do think that a lot of the policies that were

199
00:10:32,920 --> 00:10:36,600
Speaker 1: put in play beefed up social safety net programs that

200
00:10:36,800 --> 00:10:39,679
Speaker 1: encouraged workers to stay on the sideline rather than getting

201
00:10:39,679 --> 00:10:44,559
Speaker 1: back to work. We're still navigating through those terrible policy decisions,

202
00:10:44,800 --> 00:10:47,360
Speaker 1: and that is one of the key drivers, I believe

203
00:10:47,400 --> 00:10:50,040
Speaker 1: of the inflationary environment that we're in. I did want

204
00:10:50,040 --> 00:10:52,800
Speaker 1: you to very quickly weigh in on the search warrant

205
00:10:52,840 --> 00:10:55,800
Speaker 1: that was executed down in Mara Logo. Can you just

206
00:10:56,200 --> 00:10:59,839
Speaker 1: talk very quickly about if you think that what is

207
00:11:00,080 --> 00:11:02,280
Speaker 1: at this point, what should the next step be. Should

208
00:11:02,280 --> 00:11:04,520
Speaker 1: there be an investigation of the FBI or do we

209
00:11:04,559 --> 00:11:07,280
Speaker 1: need to really know more information about what that search

210
00:11:07,320 --> 00:11:11,559
Speaker 1: warrant was based on. The rate is unquestionably unprecedented, and

211
00:11:11,600 --> 00:11:13,920
Speaker 1: I think what is still challenging for myself and many

212
00:11:13,960 --> 00:11:16,200
Speaker 1: people is the FBI and the d o J have

213
00:11:16,280 --> 00:11:18,920
Speaker 1: not come forward and provided an update. And so what

214
00:11:18,960 --> 00:11:21,880
Speaker 1: I would like to see is additional transparency. We need

215
00:11:21,920 --> 00:11:25,000
Speaker 1: to understand what was the decision making process that went

216
00:11:25,040 --> 00:11:27,920
Speaker 1: into this, why was this conducted? And I think the

217
00:11:27,960 --> 00:11:31,480
Speaker 1: reason so many people like myself have questions is because

218
00:11:31,520 --> 00:11:34,959
Speaker 1: we haven't seen that transparency yet the FBI in the

219
00:11:35,040 --> 00:11:36,920
Speaker 1: d o J. And so I think step one is

220
00:11:37,040 --> 00:11:38,719
Speaker 1: the FBI and the d o J need to come

221
00:11:38,760 --> 00:11:41,959
Speaker 1: forward and provide the American people an update. Congressman, thank

222
00:11:41,960 --> 00:11:44,240
Speaker 1: you again. So much for being with us today. Thank you.

223
00:11:45,040 --> 00:11:48,240
Speaker 1: That was Congressman Brian Style, Republican from the great Midwest

224
00:11:48,280 --> 00:11:51,360
Speaker 1: state of Wisconsin. In just a minute, we are going

225
00:11:51,440 --> 00:11:55,200
Speaker 1: to assemble the panel for a deep dive into today's

226
00:11:55,240 --> 00:11:58,640
Speaker 1: inflation numbers, what they mean for Biden and if after

227
00:11:58,960 --> 00:12:02,600
Speaker 1: months and months of low approval numbers, he might finally

228
00:12:02,720 --> 00:12:06,040
Speaker 1: get a break this week. And we'll look forward to

229
00:12:06,200 --> 00:12:09,800
Speaker 1: what both the upcoming primaries as well as last night's primaries.

230
00:12:09,960 --> 00:12:12,080
Speaker 1: This is Emily Will This is I'm em lookins, this

231
00:12:12,120 --> 00:12:18,959
Speaker 1: is Bloomberg. This is Bloomberg sound on on Bloomberg Radio.

232
00:12:21,080 --> 00:12:25,640
Speaker 1: This is Emilin Wilkins here with sound on. Obviously, big

233
00:12:25,679 --> 00:12:29,959
Speaker 1: news of today was that CPI report inflation. It might

234
00:12:29,960 --> 00:12:32,680
Speaker 1: be an eight point five percent, but President Joe Biden

235
00:12:32,720 --> 00:12:35,800
Speaker 1: wants you to focus on one number, that month over

236
00:12:35,920 --> 00:12:41,840
Speaker 1: month change. Zero. Today we received news that our economy

237
00:12:41,960 --> 00:12:47,760
Speaker 1: had zero percent inflation in the month of July. Zero percent.

238
00:12:48,240 --> 00:12:50,880
Speaker 1: Here's what that means. While the price of some things

239
00:12:50,920 --> 00:12:53,079
Speaker 1: go up went up last month, the price of other

240
00:12:53,120 --> 00:12:57,079
Speaker 1: things went down by the same amount. The result, zero

241
00:12:57,120 --> 00:13:00,440
Speaker 1: inflation last month. But people were still hurting a zero

242
00:13:00,480 --> 00:13:04,840
Speaker 1: inflation last month, zero zero, zero well, let's bring in

243
00:13:04,920 --> 00:13:09,800
Speaker 1: Bloomberg Politics contributors Jamie Schanzano and Rick Davis. Rick, I'll

244
00:13:09,840 --> 00:13:12,319
Speaker 1: just start with you here. I mean, is it fair

245
00:13:12,400 --> 00:13:15,840
Speaker 1: to really be focusing on the number zero when inflation

246
00:13:16,080 --> 00:13:18,760
Speaker 1: is at eight point five? Well, I think they just

247
00:13:18,840 --> 00:13:21,440
Speaker 1: picked something that they thought was sellable and wouldn't get

248
00:13:21,480 --> 00:13:23,520
Speaker 1: them into trouble in the future, right, I mean, like

249
00:13:23,600 --> 00:13:25,600
Speaker 1: they can make it sound really good. Hey, we had

250
00:13:25,720 --> 00:13:29,680
Speaker 1: zero inflation in a month. But you know, the options

251
00:13:29,720 --> 00:13:33,319
Speaker 1: are is this peak inflation or are we now seeing

252
00:13:33,360 --> 00:13:36,480
Speaker 1: a drop in inflation? And and the question for them

253
00:13:36,559 --> 00:13:38,360
Speaker 1: is going to be how they present this to the

254
00:13:38,360 --> 00:13:40,199
Speaker 1: electorate who were going to be voting in a couple

255
00:13:40,200 --> 00:13:42,640
Speaker 1: of months. And I think it's kind of a an

256
00:13:42,640 --> 00:13:46,640
Speaker 1: interesting trick that they're playing, you know, by picking on zero,

257
00:13:47,400 --> 00:13:49,960
Speaker 1: because it's just it's a it's a positive number, right,

258
00:13:50,000 --> 00:13:52,400
Speaker 1: everybody's been talking about how much inflation has been going

259
00:13:52,480 --> 00:13:54,880
Speaker 1: up and up and up, and and I think this

260
00:13:54,960 --> 00:13:57,199
Speaker 1: is a number that gets them comfortable. It gives them

261
00:13:57,200 --> 00:14:01,040
Speaker 1: something positive to say without getting trapped into gosh, what

262
00:14:01,080 --> 00:14:03,200
Speaker 1: if it goes back up or bounces up, you know,

263
00:14:03,320 --> 00:14:05,040
Speaker 1: next month, and then all of a sudden you know

264
00:14:05,280 --> 00:14:07,880
Speaker 1: that zero isn't a zero anymore. Yeah, it feels like

265
00:14:07,880 --> 00:14:11,400
Speaker 1: we're doing the whole transitory inflation thing again as lyrics.

266
00:14:11,480 --> 00:14:14,360
Speaker 1: As you literally began talking. The White House Press Office

267
00:14:14,400 --> 00:14:17,200
Speaker 1: just put out another release and the headline is a

268
00:14:17,200 --> 00:14:21,120
Speaker 1: month of zero inflation. Uh, Jenny though, I mean I

269
00:14:21,160 --> 00:14:24,520
Speaker 1: take Rick's point well that you know, they can message

270
00:14:24,520 --> 00:14:26,960
Speaker 1: all they want on this zero number, but you still

271
00:14:27,000 --> 00:14:32,040
Speaker 1: have higher inflation for voters. Are they really paying attention

272
00:14:32,080 --> 00:14:34,200
Speaker 1: to the fact that inflation zero present this month? Is

273
00:14:34,200 --> 00:14:36,840
Speaker 1: this actually going to make a difference to the average American?

274
00:14:37,520 --> 00:14:40,200
Speaker 1: Zero has never sounded so good to the White House.

275
00:14:40,240 --> 00:14:43,400
Speaker 1: That is the watchword of the day. Um, and yes,

276
00:14:43,480 --> 00:14:46,520
Speaker 1: it has been a very very good week, good week

277
00:14:46,560 --> 00:14:48,600
Speaker 1: and a half for this White House. And you know,

278
00:14:48,680 --> 00:14:52,120
Speaker 1: if anybody had told me a year ago that this

279
00:14:52,240 --> 00:14:54,640
Speaker 1: is where they would be killing the number one terrorists,

280
00:14:54,720 --> 00:14:59,240
Speaker 1: the Chips Act, the Reconciliation Bill, you know, the Packed Act,

281
00:14:59,360 --> 00:15:02,040
Speaker 1: you know so much. And now inflation today we get

282
00:15:02,040 --> 00:15:05,480
Speaker 1: the number. It is cooling off. I mean, that is

283
00:15:05,520 --> 00:15:07,800
Speaker 1: the reality. It is slowing from a year ago. We

284
00:15:07,840 --> 00:15:10,400
Speaker 1: don't have to talk about this forty year high. And

285
00:15:10,400 --> 00:15:12,160
Speaker 1: and you and Joe Matthew you don't have to play

286
00:15:12,200 --> 00:15:14,160
Speaker 1: the number one song from forty years ago, so we

287
00:15:14,160 --> 00:15:16,560
Speaker 1: can all remember how bad it was. So this is

288
00:15:16,600 --> 00:15:18,440
Speaker 1: a very good day for this White House. And let's

289
00:15:18,480 --> 00:15:21,280
Speaker 1: add to that, gas prices down for the fifty seventh

290
00:15:21,400 --> 00:15:23,880
Speaker 1: day in a row that you know now hovering. I

291
00:15:23,880 --> 00:15:27,080
Speaker 1: think nationally around four dollars plus minus four dollars. So

292
00:15:27,280 --> 00:15:29,760
Speaker 1: is it perfect? No, to Rick's point, you know, should

293
00:15:29,800 --> 00:15:32,120
Speaker 1: it go up, you know they're gonna have to message that.

294
00:15:32,200 --> 00:15:33,960
Speaker 1: But I think that they are trying to be very

295
00:15:34,000 --> 00:15:37,000
Speaker 1: careful and moderate while making the case we're going in

296
00:15:37,040 --> 00:15:39,880
Speaker 1: the right direction. I want to dig into a little

297
00:15:39,880 --> 00:15:43,120
Speaker 1: bit about Biden's week. Jeanie laid it out really well.

298
00:15:43,160 --> 00:15:45,960
Speaker 1: You got the CPI report, you had him signing the

299
00:15:46,080 --> 00:15:48,240
Speaker 1: Chips Act yesterday, you had him signed the burn Pack

300
00:15:48,320 --> 00:15:51,120
Speaker 1: Act today. On Friday, the House is very likely to

301
00:15:51,160 --> 00:15:55,640
Speaker 1: pass parts of his signature legislative plan. Rick, are we

302
00:15:55,680 --> 00:15:59,920
Speaker 1: going to start seeing a turnaround in Biden's numbers? Well,

303
00:16:00,000 --> 00:16:03,080
Speaker 1: it's certainly a better messaging right now. Um, you know

304
00:16:03,160 --> 00:16:05,920
Speaker 1: the fact that they're actually getting something done on Capitol Hill.

305
00:16:06,400 --> 00:16:10,520
Speaker 1: He's able to be seen, you know, signing important legislation,

306
00:16:10,800 --> 00:16:14,400
Speaker 1: delivering financial aid to people all up and down the

307
00:16:14,440 --> 00:16:18,960
Speaker 1: economic sector. But you know, then wild cards happened in

308
00:16:19,000 --> 00:16:21,720
Speaker 1: the FBI raid on Donald Trump's home in mar Lago

309
00:16:22,160 --> 00:16:24,560
Speaker 1: kind of blew a couple of these big announcements right

310
00:16:24,640 --> 00:16:28,080
Speaker 1: out the front page of the newspaper. And so I

311
00:16:28,440 --> 00:16:32,480
Speaker 1: think that he's still struggling with how to do uh,

312
00:16:32,600 --> 00:16:37,320
Speaker 1: positive announcements without Donald Trump interrupting his show. And the

313
00:16:37,360 --> 00:16:40,080
Speaker 1: reality is he did have a good week. He's had

314
00:16:40,120 --> 00:16:43,000
Speaker 1: a good month really in August, not a month that

315
00:16:43,120 --> 00:16:46,360
Speaker 1: many people are paying attention. But when Donald Trump gets

316
00:16:46,360 --> 00:16:48,760
Speaker 1: to grab the headline and and he didn't even have

317
00:16:48,840 --> 00:16:51,760
Speaker 1: to try to do it, it was done to him. Um,

318
00:16:51,800 --> 00:16:57,680
Speaker 1: it's just an unforced atone attorney general exactly certain extent. Yeah, Jimmie,

319
00:16:57,680 --> 00:16:59,400
Speaker 1: what do you think here? Is there any way for

320
00:16:59,440 --> 00:17:02,120
Speaker 1: Biden to really begin to get his poll numbers back up?

321
00:17:02,160 --> 00:17:04,199
Speaker 1: I mean, if if a week like this doesn't do it,

322
00:17:04,320 --> 00:17:07,159
Speaker 1: what is It's tough. But I will note I was

323
00:17:07,240 --> 00:17:09,359
Speaker 1: just looking at some of the three latest polls from

324
00:17:09,359 --> 00:17:12,159
Speaker 1: August seven to August nine. You've got Reuters res musen

325
00:17:12,200 --> 00:17:14,720
Speaker 1: An Economists. He is ticking up and now he is

326
00:17:14,800 --> 00:17:18,400
Speaker 1: forty to approval. Now that may not sound perfect. He's

327
00:17:18,400 --> 00:17:20,960
Speaker 1: still underwater, but you know, you look at you know,

328
00:17:21,080 --> 00:17:23,520
Speaker 1: previous polls and he was down sometimes in the load

329
00:17:23,520 --> 00:17:26,840
Speaker 1: to mid thirties. So he's ticking up there. Um, you know,

330
00:17:26,960 --> 00:17:29,840
Speaker 1: is it going to change him completely? No? The reality

331
00:17:29,880 --> 00:17:33,560
Speaker 1: is I think very important. The Democrats have been trying

332
00:17:33,600 --> 00:17:35,840
Speaker 1: to show and Biden as a part of this in

333
00:17:35,880 --> 00:17:39,199
Speaker 1: this last month, as Rick said that Washington is able

334
00:17:39,320 --> 00:17:42,199
Speaker 1: to work, you know, narrowly, not doing as much as

335
00:17:42,240 --> 00:17:44,560
Speaker 1: they wanted it to do, certainly, but they are able

336
00:17:44,640 --> 00:17:47,800
Speaker 1: to talk about important pieces of legislation that are widely

337
00:17:47,840 --> 00:17:50,399
Speaker 1: supported among Americans. Do I think it's going to be

338
00:17:50,440 --> 00:17:53,600
Speaker 1: a game changer in the mid terms. No. I think

339
00:17:53,640 --> 00:17:56,520
Speaker 1: though that coupled with Donald Trump in the news and

340
00:17:56,600 --> 00:17:59,960
Speaker 1: some of these extremest Republican candidates, maybe enough to say

341
00:18:00,040 --> 00:18:02,439
Speaker 1: the Democrats the House, I mean the Senate. Rather, they

342
00:18:02,440 --> 00:18:04,840
Speaker 1: will lose the House, and that in and of itself

343
00:18:04,920 --> 00:18:08,760
Speaker 1: is a huge win for Democrats if it happens, a

344
00:18:08,840 --> 00:18:10,720
Speaker 1: huge if I mean, Rick, I do want to toss

345
00:18:10,720 --> 00:18:13,000
Speaker 1: it to you do. We've got only about thirty seconds left,

346
00:18:13,000 --> 00:18:15,959
Speaker 1: But you're the one with campaign experience. How difficult it

347
00:18:16,000 --> 00:18:18,160
Speaker 1: is is it to take wins like this in Washington

348
00:18:18,280 --> 00:18:21,359
Speaker 1: and really translate them to voters. Yeah, you need sustainability.

349
00:18:21,400 --> 00:18:22,879
Speaker 1: You need to be able to do it over a

350
00:18:22,960 --> 00:18:24,960
Speaker 1: decent amount of time. You can't just have one good

351
00:18:25,080 --> 00:18:28,520
Speaker 1: day and then you know a series of back backlashes.

352
00:18:28,600 --> 00:18:31,679
Speaker 1: So I think these guys are starting to get their

353
00:18:31,720 --> 00:18:33,879
Speaker 1: their mojo back at the White House. If they can

354
00:18:33,960 --> 00:18:36,879
Speaker 1: launch a good campaign post Labor Day and let it

355
00:18:36,960 --> 00:18:39,360
Speaker 1: last for a while and not be interrupted by global

356
00:18:39,400 --> 00:18:42,720
Speaker 1: events or Donald Trump, they have a shot. Well, Rick

357
00:18:42,760 --> 00:18:45,160
Speaker 1: and Jennie stick around. We will be back to talk

358
00:18:45,200 --> 00:18:47,600
Speaker 1: a little bit more about some of those accomplishments, as

359
00:18:47,640 --> 00:18:50,760
Speaker 1: well as the week that former President Donald Trump had

360
00:18:50,840 --> 00:18:53,480
Speaker 1: certainly a lot of headlines. They're coming up. We will

361
00:18:53,520 --> 00:18:57,200
Speaker 1: speak to Greg Jarrow with Bloomberg Government about the primaries.

362
00:18:57,560 --> 00:19:06,560
Speaker 1: This is Bloomberg Broadcasting live from our nation's capital, Bloomberg

363
00:19:07,840 --> 00:19:12,120
Speaker 1: to New York, Bloomberg eleven Frio to Boston, Bloomberg one

364
00:19:12,119 --> 00:19:15,879
Speaker 1: O six one to San Francisco, Bloomberg nine sixty to

365
00:19:15,960 --> 00:19:20,080
Speaker 1: the country, Sirius XM General one nine and around the globe,

366
00:19:20,119 --> 00:19:23,840
Speaker 1: the Bloomberg Business app and Bloomberg Radio dot Com. This

367
00:19:24,440 --> 00:19:29,679
Speaker 1: is Bloomberg Sound on with Joe Matthew. It is Wednesday

368
00:19:29,760 --> 00:19:32,240
Speaker 1: in an election year, which means that last night another

369
00:19:32,320 --> 00:19:35,639
Speaker 1: round of states held their Primariuses include set up a

370
00:19:35,760 --> 00:19:40,040
Speaker 1: marquee Senate match in Wisconsin and a Trump backed candidates

371
00:19:40,359 --> 00:19:43,080
Speaker 1: wound up having quite a good night. But the most

372
00:19:43,119 --> 00:19:46,159
Speaker 1: interesting House primary is arguably yet to come. We're going

373
00:19:46,200 --> 00:19:49,040
Speaker 1: to break it all down with Bloomberg Government Elections reporter

374
00:19:49,200 --> 00:19:53,640
Speaker 1: Greg Jerow, a guru of all things elections at Bloomberg Government.

375
00:19:53,680 --> 00:19:56,800
Speaker 1: Greg Jerrow, Greg, thank you so much for joining us.

376
00:19:56,800 --> 00:19:59,959
Speaker 1: Obviously a lot that went on last night, numerous states

377
00:20:00,240 --> 00:20:04,720
Speaker 1: holding their primaries. I wanted to get started on the

378
00:20:04,880 --> 00:20:07,879
Speaker 1: major win I think for Trump last night. His endorsed

379
00:20:07,920 --> 00:20:12,200
Speaker 1: candidate for Wisconsin governor, businessman Tim Michaels, defeated former Lieutenant

380
00:20:12,240 --> 00:20:17,119
Speaker 1: Governor Rebecca Cleefish on Tuesday to secure that Republican nomination. UH.

381
00:20:17,200 --> 00:20:20,720
Speaker 1: The Wind's gonna pit Michael's against Democratic Governor Tony Evers

382
00:20:20,720 --> 00:20:24,040
Speaker 1: in November. Uh. In conceding the race, a Cleefish told

383
00:20:24,040 --> 00:20:26,960
Speaker 1: supporters that the fights now against Tony Evers and the

384
00:20:26,960 --> 00:20:29,160
Speaker 1: liberals who want to take our way of life. Let's

385
00:20:29,200 --> 00:20:32,920
Speaker 1: listen to what Michael's told his supporters, and as governor,

386
00:20:33,160 --> 00:20:36,639
Speaker 1: my number one prioritis take care of the hard working

387
00:20:36,680 --> 00:20:39,440
Speaker 1: people of Wisconsin. Definitely, well, all the way with Wisconsin,

388
00:20:39,600 --> 00:20:42,280
Speaker 1: all the way with Chee's Kurds. Greg Darrow, what was

389
00:20:42,320 --> 00:20:45,359
Speaker 1: your takeaway from that governor's race last night? Well, that

390
00:20:45,440 --> 00:20:50,080
Speaker 1: Republican primary family really accentuated the former president's continued sway

391
00:20:50,080 --> 00:20:53,480
Speaker 1: and Republican primaries. Tim Michaels was probably began that race

392
00:20:53,520 --> 00:20:56,160
Speaker 1: as the underdog, but he got a well timed endorsement

393
00:20:56,200 --> 00:20:59,639
Speaker 1: by Trump and he defeated as he met Rebecca Cleefish,

394
00:20:59,760 --> 00:21:02,760
Speaker 1: who was Wisconsin's lieutenant governor under Scott Walker, the early

395
00:21:03,320 --> 00:21:06,440
Speaker 1: front runner. She had Walker's endorsement and also Mike Pences,

396
00:21:06,440 --> 00:21:09,960
Speaker 1: so this was a proxy battle between Trump and Pence

397
00:21:10,000 --> 00:21:13,760
Speaker 1: that Trump won. And I'd also note that the Wisconsin

398
00:21:14,160 --> 00:21:17,800
Speaker 1: Republican Assembly Speaker, Robin Voss, was almost unseated by a

399
00:21:17,800 --> 00:21:23,159
Speaker 1: pro Trump challenger just because Voss refused to agree with

400
00:21:23,200 --> 00:21:26,840
Speaker 1: the ex presidents much debunked false claims that the Biden

401
00:21:28,040 --> 00:21:31,160
Speaker 1: over Trump and Wisconsin could be discertified. So Voss held

402
00:21:31,160 --> 00:21:33,560
Speaker 1: on too, barely held on to his seat against a

403
00:21:33,960 --> 00:21:37,480
Speaker 1: underfunded Trump challenger. So uh, this is still still very

404
00:21:37,520 --> 00:21:40,760
Speaker 1: much Donal Trump's Republican Party, especially in Wisconsin. I mean, Greg,

405
00:21:40,760 --> 00:21:43,280
Speaker 1: should we should we be surprised by this? I mean Wisconsin,

406
00:21:43,640 --> 00:21:46,800
Speaker 1: They've got a Democratic senator, they've got a Democratic governor,

407
00:21:47,320 --> 00:21:50,560
Speaker 1: they voted for Democrats in the past. What do you

408
00:21:50,640 --> 00:21:53,600
Speaker 1: make of the fact that Trump backed candidates did as

409
00:21:53,600 --> 00:21:57,320
Speaker 1: well as they did? Uh, well, it's it's definitely on

410
00:21:57,400 --> 00:22:00,520
Speaker 1: general elections, it's definitely a quintessential swing state. Wisconsin is

411
00:22:00,560 --> 00:22:03,760
Speaker 1: the only state that was within one point for the

412
00:22:03,800 --> 00:22:10,719
Speaker 1: winner of the presidential elections. Um, in Republican primaries are

413
00:22:10,760 --> 00:22:14,240
Speaker 1: just a different ballgame because it's a smaller and much

414
00:22:14,280 --> 00:22:17,879
Speaker 1: different ideological electorate. But now, um, you know that we

415
00:22:17,960 --> 00:22:19,960
Speaker 1: have to move forward to the general election where I

416
00:22:20,000 --> 00:22:22,920
Speaker 1: think you know Tim Michaels and um, he's probably gonna

417
00:22:22,960 --> 00:22:25,439
Speaker 1: have to maybe modulate his strategy and maybe some of

418
00:22:25,480 --> 00:22:28,439
Speaker 1: his rhetoric to compete in a fifty fifty state against

419
00:22:28,560 --> 00:22:31,359
Speaker 1: the Democratic governor Tony Evers. And then we've got that

420
00:22:31,560 --> 00:22:34,680
Speaker 1: Marquee Senate race where um, yesterday we had a lieutenant

421
00:22:34,720 --> 00:22:38,640
Speaker 1: governor Mandela Barnes, Democrat, when the party's nomination to face

422
00:22:39,080 --> 00:22:41,800
Speaker 1: Republican incumbent Ron Johnson. That's going to be one of

423
00:22:41,800 --> 00:22:44,040
Speaker 1: the five or six Senate races. I think that will

424
00:22:44,359 --> 00:22:47,080
Speaker 1: determine which party wins a majority in November. Yeah, I

425
00:22:47,080 --> 00:22:48,959
Speaker 1: was about to ask about that one. I mean, you

426
00:22:49,040 --> 00:22:52,160
Speaker 1: mentioned that Michael sort of need to regulate his rhetoric

427
00:22:52,320 --> 00:22:54,680
Speaker 1: a little bit. I mean, certainly, Ron Johnson has had

428
00:22:54,800 --> 00:22:58,680
Speaker 1: his fair share of controversial statements, particular around COVID. Is

429
00:22:58,720 --> 00:23:00,840
Speaker 1: he also going into have to change his tune a

430
00:23:00,880 --> 00:23:03,840
Speaker 1: little bit if he hopes to keep his seat. I

431
00:23:03,840 --> 00:23:07,160
Speaker 1: think he'll probably, I think he'll Any adjustments he makes

432
00:23:07,160 --> 00:23:09,600
Speaker 1: will probably depend on the political environment. Um. You know,

433
00:23:09,680 --> 00:23:14,320
Speaker 1: he's um, he's known for kind of fiscal issue conservatism.

434
00:23:14,359 --> 00:23:16,120
Speaker 1: You know, I remember when I covered his first race

435
00:23:16,800 --> 00:23:19,399
Speaker 1: when he upset Russ Fineld. He very much ran with

436
00:23:19,480 --> 00:23:22,960
Speaker 1: the the energy and enthusiasm of the Tea Party movement

437
00:23:23,000 --> 00:23:26,840
Speaker 1: as existed then. Um. He still focuses a lot on

438
00:23:27,119 --> 00:23:33,000
Speaker 1: cutting regulation, cutting taxes, cutting spending. Has had some controversial statements,

439
00:23:33,000 --> 00:23:35,719
Speaker 1: as you've mentioned. But this is going to be a

440
00:23:35,800 --> 00:23:38,920
Speaker 1: very close race, for sure. I also see that Vermont

441
00:23:39,040 --> 00:23:41,159
Speaker 1: is on the path to get its first woman to

442
00:23:41,240 --> 00:23:44,920
Speaker 1: represent the state in Congress. Greg what took Vermont so long,

443
00:23:45,119 --> 00:23:47,760
Speaker 1: I thought, I thought Vermont would have had this one already,

444
00:23:48,080 --> 00:23:50,359
Speaker 1: I would have two. And Vermont actually has one of

445
00:23:50,359 --> 00:23:52,480
Speaker 1: the best records in the country when it comes to

446
00:23:52,520 --> 00:23:55,880
Speaker 1: electing women to state legislative offices. But they've never It's

447
00:23:55,880 --> 00:23:58,320
Speaker 1: the only state that's never elected a woman in Congress.

448
00:23:58,359 --> 00:24:01,199
Speaker 1: That's going to change in November, right thinka Becka Balance

449
00:24:01,200 --> 00:24:04,600
Speaker 1: who is the UH state Senate President pro tempore A

450
00:24:04,720 --> 00:24:09,800
Speaker 1: one the key Democratic primary in UH yesterday for Vermont's

451
00:24:09,880 --> 00:24:12,680
Speaker 1: loan statewide seat. Peter Welsh is giving up that seat

452
00:24:12,720 --> 00:24:14,439
Speaker 1: to run for the Senate, so that created an opening.

453
00:24:15,000 --> 00:24:18,959
Speaker 1: One reason why women have not had really many opportunities

454
00:24:18,960 --> 00:24:21,480
Speaker 1: in Vermont is that it has just one seat in

455
00:24:21,520 --> 00:24:23,760
Speaker 1: the US House, as I mentioned, but also a lot

456
00:24:23,800 --> 00:24:26,920
Speaker 1: of the male incumbents who have served there, including Pat Leahy,

457
00:24:27,040 --> 00:24:29,960
Speaker 1: the forty eight year Senator, Bernie Sanders, and Peter Welsh,

458
00:24:30,000 --> 00:24:32,679
Speaker 1: have served for a very long time, and it always

459
00:24:32,800 --> 00:24:34,639
Speaker 1: is always very odd for me to think that Bernie

460
00:24:34,680 --> 00:24:38,520
Speaker 1: Sanders is the junior senator from from Vermont, just because

461
00:24:38,560 --> 00:24:41,080
Speaker 1: Pat lay has been there for so long. Well, Greg,

462
00:24:41,119 --> 00:24:42,960
Speaker 1: I want to look forward a little bit too next

463
00:24:42,960 --> 00:24:46,880
Speaker 1: week when Liz Cheney daughter of Dick Cheney, outspoken anti Trumper,

464
00:24:47,000 --> 00:24:50,080
Speaker 1: is going to face the fate of Wyoming voters. I

465
00:24:50,160 --> 00:24:52,639
Speaker 1: saw there was a poll recently from the Casper s

466
00:24:52,760 --> 00:24:55,800
Speaker 1: Jar Tribune showing that she is trailing her opponent by

467
00:24:55,840 --> 00:24:59,440
Speaker 1: twenty two points. Greg, is there any way that Liz

468
00:24:59,520 --> 00:25:02,159
Speaker 1: Cheney pull this off. It's hard to see how she

469
00:25:02,200 --> 00:25:04,000
Speaker 1: does it. I mean, she's a queer underdog in a

470
00:25:04,080 --> 00:25:07,560
Speaker 1: state where Trump won seventy of the vote in that

471
00:25:07,600 --> 00:25:11,400
Speaker 1: was his best showing nationwide. And so of the ten

472
00:25:11,440 --> 00:25:14,520
Speaker 1: Republicans voted to impeach Trump, you know, four declined to

473
00:25:14,560 --> 00:25:17,439
Speaker 1: run free election, and Shaney is the last of the

474
00:25:17,480 --> 00:25:20,720
Speaker 1: six seeking reelection to face the primary voters. Three of

475
00:25:20,720 --> 00:25:23,200
Speaker 1: those six have already lost in the primary to barely

476
00:25:23,520 --> 00:25:25,840
Speaker 1: advanced and Shaney is more likely than not to lose

477
00:25:25,880 --> 00:25:30,400
Speaker 1: to Harriet Hageman, who's backed by Trump. So we may

478
00:25:30,440 --> 00:25:33,200
Speaker 1: have at the end of the day, one, maybe two

479
00:25:33,560 --> 00:25:36,040
Speaker 1: of the ten Republicans voted to impeach Trump left in

480
00:25:36,080 --> 00:25:40,240
Speaker 1: the next Congress in January. Yeah, I mean also yesterday,

481
00:25:40,280 --> 00:25:43,159
Speaker 1: even though this primary happened back on August two, you

482
00:25:43,200 --> 00:25:48,240
Speaker 1: saw a Congresswoman Jamie Harrara Butler, a congresswoman in Washington State,

483
00:25:48,400 --> 00:25:51,240
Speaker 1: also one of the ten who voted for Trump's impeachment,

484
00:25:51,600 --> 00:25:56,359
Speaker 1: also concede to her opponent. Uh, there was a Watchington

485
00:25:56,400 --> 00:25:58,760
Speaker 1: as a bit of a different primary structure, but basically

486
00:25:58,800 --> 00:26:00,879
Speaker 1: the top two spots, one of them was taken by

487
00:26:00,880 --> 00:26:04,000
Speaker 1: a Democrat and one was taken by a Republican who

488
00:26:04,040 --> 00:26:07,280
Speaker 1: Trump endorsed. Greg, we only have about thirty seconds left,

489
00:26:07,600 --> 00:26:11,040
Speaker 1: but from your perspective, it seems like Trump is still

490
00:26:11,080 --> 00:26:14,840
Speaker 1: the kingmaker within the Republican Party. Is that fair to say? Yes,

491
00:26:14,920 --> 00:26:16,880
Speaker 1: he still has a lot of clout and as we've

492
00:26:16,880 --> 00:26:20,399
Speaker 1: seen from the results of the primaries involving the Trump

493
00:26:20,400 --> 00:26:23,760
Speaker 1: and peats, including Jamie Horror Butler, it really underscores how

494
00:26:24,200 --> 00:26:27,640
Speaker 1: Trump and his supporters have almost completely purged the House

495
00:26:27,680 --> 00:26:31,960
Speaker 1: Republican Conference of Trump opponents and skeptics. Well, Greg Darrow,

496
00:26:32,080 --> 00:26:33,880
Speaker 1: thank you so much for joining us, and I'm sure

497
00:26:33,920 --> 00:26:36,919
Speaker 1: we'll be hearing from you soon as the primaries continue.

498
00:26:37,440 --> 00:26:41,359
Speaker 1: That's Greg Jarrow Bloomberg, Government election reporter. The one are

499
00:26:41,400 --> 00:26:44,720
Speaker 1: the hosts of the Down Ballotcounts podcast. Definitely take a

500
00:26:44,800 --> 00:26:47,680
Speaker 1: listen to that. Up next, we're going to get into

501
00:26:47,760 --> 00:26:52,520
Speaker 1: burn pits legislation finally signed into law, and the wild

502
00:26:52,600 --> 00:26:56,920
Speaker 1: week that former President Donald Trump has had. I'm Emily Wilkins.

503
00:26:56,960 --> 00:27:07,479
Speaker 1: This is Bloomberg. You're listening to Bloomberg sound on on

504
00:27:07,600 --> 00:27:14,920
Speaker 1: Bloomberg Radio. Usually, usually August in d C is quiet,

505
00:27:15,040 --> 00:27:19,879
Speaker 1: lawmakers are gone, everyone goes on vacation. But that is

506
00:27:19,920 --> 00:27:22,520
Speaker 1: not the case this week. We have all been busy.

507
00:27:22,840 --> 00:27:27,160
Speaker 1: President Joe Biden among us signing. He signed legislation into

508
00:27:27,200 --> 00:27:30,639
Speaker 1: law expanding care to veterans who have suffered from toxins

509
00:27:30,840 --> 00:27:33,919
Speaker 1: released by burn Pits. I know that we've talked a

510
00:27:33,960 --> 00:27:37,040
Speaker 1: lot about this particular bill on the show. It has

511
00:27:37,080 --> 00:27:39,880
Speaker 1: now become law, but even we might not have talked

512
00:27:39,920 --> 00:27:42,280
Speaker 1: about it as much as the former host of The

513
00:27:42,359 --> 00:27:45,320
Speaker 1: Daily Stow, John Stewart, who camped out on the Senate

514
00:27:45,359 --> 00:27:49,560
Speaker 1: steps with veterans and families were impacted to pressure the

515
00:27:49,600 --> 00:27:52,680
Speaker 1: Senate to pass a bill. He was at the White

516
00:27:52,680 --> 00:27:56,200
Speaker 1: House today with President Biden, and Biden made sure to

517
00:27:56,200 --> 00:27:58,480
Speaker 1: give him a shout out, and John, I want to

518
00:27:58,520 --> 00:28:01,159
Speaker 1: thank you again. I I wanted to come up and

519
00:28:01,160 --> 00:28:03,359
Speaker 1: hang out in the Capitol steps, and the Secret Service

520
00:28:03,359 --> 00:28:05,439
Speaker 1: said I would be pain the neck and wouldn't let

521
00:28:05,440 --> 00:28:07,960
Speaker 1: me do so at least we did a little video

522
00:28:08,040 --> 00:28:11,680
Speaker 1: on there. But but what you've done, John matters, and

523
00:28:11,720 --> 00:28:15,320
Speaker 1: you know it does. You should know it really really matters.

524
00:28:15,680 --> 00:28:19,960
Speaker 1: Your reshuges. Let anybody forget refuge to let them forget,

525
00:28:20,760 --> 00:28:22,720
Speaker 1: and we owe your big man, We owe your big

526
00:28:27,080 --> 00:28:30,200
Speaker 1: Let's go ahead and bring back in Bloomberg Politics contributors

527
00:28:30,320 --> 00:28:34,760
Speaker 1: Jimmy Chanzano and Rick Davis. You know, Rick, I feel

528
00:28:34,800 --> 00:28:37,560
Speaker 1: like this bill could have been such an easy slam

529
00:28:37,640 --> 00:28:42,280
Speaker 1: dunk right getting help for veterans. Everyone supports the veterans,

530
00:28:42,360 --> 00:28:45,280
Speaker 1: and yet you had to have Jon Stewart get involved

531
00:28:45,320 --> 00:28:48,440
Speaker 1: because the bureaucracy of Washington just weighed this bill down.

532
00:28:48,560 --> 00:28:50,800
Speaker 1: It was bogged down by process. It was bogged down

533
00:28:50,800 --> 00:28:54,760
Speaker 1: by politics. Rick, what is your overall takeaway from the

534
00:28:54,800 --> 00:28:57,840
Speaker 1: movement of this bill. Yeah, I think that this is

535
00:28:57,880 --> 00:29:00,480
Speaker 1: a bill that was going to happen, and as you

536
00:29:00,560 --> 00:29:03,120
Speaker 1: point out, Emily, the process got in its way. I

537
00:29:03,360 --> 00:29:06,280
Speaker 1: don't know any Republicans who are actually opposed to the bill,

538
00:29:06,640 --> 00:29:09,080
Speaker 1: but they got characterized for voting against it because of

539
00:29:09,160 --> 00:29:12,440
Speaker 1: some procedural issues, especially with where the money was coming

540
00:29:12,480 --> 00:29:14,520
Speaker 1: from to fund it. It was a big, big funding

541
00:29:14,520 --> 00:29:18,600
Speaker 1: item over you know, almost three billion dollars and um

542
00:29:18,720 --> 00:29:20,800
Speaker 1: and and it was gonna happen. It just didn't happen

543
00:29:20,840 --> 00:29:23,880
Speaker 1: along the way that that it should have. And I

544
00:29:23,920 --> 00:29:27,120
Speaker 1: think that John Stewart took good advantage of the fact

545
00:29:27,160 --> 00:29:31,240
Speaker 1: that sometimes making sausage in Washington, d C. Looks a

546
00:29:31,240 --> 00:29:34,240
Speaker 1: little gross. But you know, they got to build out,

547
00:29:34,320 --> 00:29:36,240
Speaker 1: and they got to build past and sign and I

548
00:29:36,240 --> 00:29:39,680
Speaker 1: don't think that people will remember sort of the hiccups

549
00:29:39,680 --> 00:29:41,600
Speaker 1: along the way. I think this will be a bill

550
00:29:41,680 --> 00:29:45,560
Speaker 1: that everybody goes back after recess and says to their constituents,

551
00:29:45,560 --> 00:29:49,120
Speaker 1: we took care of veterans. Ten do other advocacy groups

552
00:29:49,160 --> 00:29:51,280
Speaker 1: need to take a page out of the playbook here

553
00:29:51,360 --> 00:29:53,840
Speaker 1: and find a celebrity to camp out on the Capitol

554
00:29:53,840 --> 00:29:57,880
Speaker 1: steps until their legislation's passed. Yeah, it's not a bad strategy,

555
00:29:58,000 --> 00:30:00,360
Speaker 1: but I think it's really important to out for a

556
00:30:00,360 --> 00:30:02,840
Speaker 1: moment and say this was a long term promise made

557
00:30:02,840 --> 00:30:06,480
Speaker 1: to veterans. It's a critically important bill, very deeply personal

558
00:30:06,520 --> 00:30:08,760
Speaker 1: to the president. He attributes the death of his son

559
00:30:08,880 --> 00:30:12,960
Speaker 1: bow to these toxic pits, and so you know, this

560
00:30:13,040 --> 00:30:15,720
Speaker 1: is a very big moment across the board, and it's

561
00:30:15,760 --> 00:30:19,040
Speaker 1: you know, it's ric it's bipartisan. The Repulicans got caught

562
00:30:19,080 --> 00:30:21,960
Speaker 1: up in the spending issue, you know, discretionary otherwise. But

563
00:30:22,400 --> 00:30:24,920
Speaker 1: you know, this is a huge win for veterans and

564
00:30:24,960 --> 00:30:27,200
Speaker 1: a very long time coming. And it was a very

565
00:30:27,280 --> 00:30:31,640
Speaker 1: moving bill signing, and John Stuart deserves a lot of credit. Um.

566
00:30:31,720 --> 00:30:35,000
Speaker 1: But you know, I think the celebrity asside, we should

567
00:30:35,040 --> 00:30:39,320
Speaker 1: underscore how important this is for veterans who have suffered long,

568
00:30:39,800 --> 00:30:42,200
Speaker 1: too long as a result of this not being taken

569
00:30:42,200 --> 00:30:44,800
Speaker 1: care of much earlier. Absolutely, I mean to think that

570
00:30:44,880 --> 00:30:48,000
Speaker 1: these are folks you know, sacrificed um, their time and

571
00:30:48,080 --> 00:30:51,640
Speaker 1: effort and work to defend us, and that they got

572
00:30:51,800 --> 00:30:54,440
Speaker 1: sick on the job, and that you know, we it's

573
00:30:54,480 --> 00:30:57,840
Speaker 1: taken us this song to do something. Uh. Certainly a

574
00:30:57,960 --> 00:31:01,520
Speaker 1: very big moment there at the White House today. Um.

575
00:31:01,880 --> 00:31:04,040
Speaker 1: We think we mentioned a little bit earlier about how

576
00:31:04,360 --> 00:31:06,800
Speaker 1: Donald Trump was stumping all over Biden's week. I'm just

577
00:31:06,840 --> 00:31:09,080
Speaker 1: gonna go ahead and follow that trend because there's so

578
00:31:09,160 --> 00:31:12,680
Speaker 1: much to discuss here. You had a federal appeals court

579
00:31:12,800 --> 00:31:16,360
Speaker 1: saying that a House committee could be looking could now

580
00:31:16,440 --> 00:31:21,240
Speaker 1: have Biden's sorry rather Trump's tax returns. You obviously saw

581
00:31:21,320 --> 00:31:26,000
Speaker 1: that really unprecedented search warrant executed at Mara Lago by

582
00:31:26,040 --> 00:31:30,560
Speaker 1: the FBI. And then today you saw Trump go for

583
00:31:30,720 --> 00:31:33,840
Speaker 1: a live deposition with the New York Attorney General. They're

584
00:31:33,880 --> 00:31:37,160
Speaker 1: looking into his real estate and and the amount that

585
00:31:37,240 --> 00:31:40,120
Speaker 1: he claimed that it was worth. And then when he

586
00:31:40,200 --> 00:31:42,480
Speaker 1: was there, Trump said, I'm just going to plead the fifth.

587
00:31:43,320 --> 00:31:45,400
Speaker 1: And you think that maybe after all of this, if

588
00:31:45,400 --> 00:31:49,000
Speaker 1: you're wondering how it's playing out. Uh. Senator Lindsey Graham

589
00:31:49,080 --> 00:31:52,520
Speaker 1: of South Carolina has a has a big takeaway on

590
00:31:52,560 --> 00:31:56,120
Speaker 1: this one. I believe he was gonna run before. I'm

591
00:31:56,160 --> 00:32:00,920
Speaker 1: a stronger in my belief. Now, Rick Davis, tell me

592
00:32:00,920 --> 00:32:03,520
Speaker 1: about the dynamics going on here. I mean, this doesn't

593
00:32:03,560 --> 00:32:07,280
Speaker 1: sound like a great week for Trump, and yet it

594
00:32:07,440 --> 00:32:10,640
Speaker 1: seems like there's a lot of enthusiasm and momentum behind

595
00:32:10,760 --> 00:32:13,600
Speaker 1: him right now. Yeah, And and that doesn't even cover

596
00:32:13,840 --> 00:32:17,479
Speaker 1: half of the lawsuits that have been registered both civil

597
00:32:17,520 --> 00:32:21,000
Speaker 1: and federal and state against Donald Trump. I mean, he's

598
00:32:21,000 --> 00:32:24,400
Speaker 1: gonna spend a lot of time in depositions. But look,

599
00:32:24,440 --> 00:32:27,160
Speaker 1: I mean it does, as Lindsay say, kind of force

600
00:32:27,280 --> 00:32:29,160
Speaker 1: him out right. I Mean, what's a good way of

601
00:32:29,160 --> 00:32:32,520
Speaker 1: wiping out a lot of these lawsuits, run and win

602
00:32:32,720 --> 00:32:37,280
Speaker 1: another terminent uh for president. So I think it's almost

603
00:32:37,320 --> 00:32:40,000
Speaker 1: like an action forcing event. You know, the dial is

604
00:32:40,160 --> 00:32:43,600
Speaker 1: so turned up on all this legal harangue against Donald

605
00:32:43,640 --> 00:32:46,960
Speaker 1: Trump that it's almost leaving him no option but to run.

606
00:32:47,200 --> 00:32:51,480
Speaker 1: And um, the legal process has to run in stuke. Course,

607
00:32:51,600 --> 00:32:54,760
Speaker 1: it's going to there's no stopping it. Um, these things

608
00:32:54,800 --> 00:32:57,400
Speaker 1: are all going to find their their their level set.

609
00:32:57,440 --> 00:33:00,600
Speaker 1: But uh, it does kind of force don Trump's hand.

610
00:33:00,600 --> 00:33:03,440
Speaker 1: And we saw him release, you know, right after the

611
00:33:03,520 --> 00:33:08,600
Speaker 1: FBI rate on mar Lago, a very well produced video

612
00:33:08,720 --> 00:33:11,960
Speaker 1: that was obviously done in advance, ready to start talking

613
00:33:11,960 --> 00:33:15,320
Speaker 1: about him running for president. And I really by the

614
00:33:15,360 --> 00:33:17,120
Speaker 1: time the three and a half minute video was over,

615
00:33:17,160 --> 00:33:19,560
Speaker 1: I thought, I assume it's gonna say at the end

616
00:33:19,800 --> 00:33:22,719
Speaker 1: he's running for president. Yeah, that was I think they

617
00:33:22,760 --> 00:33:25,280
Speaker 1: also displayed that video at Sea Pack, the the big

618
00:33:25,320 --> 00:33:30,280
Speaker 1: Republican annual conference that that took place this year. Correct, Yeah,

619
00:33:30,360 --> 00:33:32,560
Speaker 1: a version of it. I think they juiced it up

620
00:33:32,560 --> 00:33:34,840
Speaker 1: a little bit for this occasion. But like this is

621
00:33:34,880 --> 00:33:38,000
Speaker 1: where their heads are. They are out there actively telling

622
00:33:38,040 --> 00:33:41,680
Speaker 1: people keep your powder dry, uh, talking to donors about

623
00:33:41,720 --> 00:33:44,640
Speaker 1: them run uh, you know, and he, of course, Donald

624
00:33:44,640 --> 00:33:47,920
Speaker 1: Trump is a master at the marketing effort, and and

625
00:33:48,000 --> 00:33:51,200
Speaker 1: he doesn't know anything to market better than himself. And

626
00:33:51,280 --> 00:33:54,880
Speaker 1: so he's taken full advantage of the opportunities that that

627
00:33:54,960 --> 00:33:58,040
Speaker 1: these lawsuits are given him to uh, to look like

628
00:33:58,160 --> 00:34:00,520
Speaker 1: that this is gonna be the reason gonna run. I

629
00:34:00,600 --> 00:34:02,960
Speaker 1: wouldn't be surprised to here out of his mouth. You know,

630
00:34:03,000 --> 00:34:04,760
Speaker 1: if I hadn't been sued so many times, I probably

631
00:34:04,800 --> 00:34:08,440
Speaker 1: wouldn't have run for president. I mean, this is this

632
00:34:08,520 --> 00:34:10,200
Speaker 1: is really a kind of a grade A class in

633
00:34:10,200 --> 00:34:15,440
Speaker 1: in making lemons are making rather lemons lemonade out of lemons, Jennie,

634
00:34:15,520 --> 00:34:17,400
Speaker 1: I wanted to switch to you sort of for the

635
00:34:17,680 --> 00:34:21,560
Speaker 1: Democratic side on this. I mean, you have seen narratives

636
00:34:21,600 --> 00:34:24,279
Speaker 1: and studies that have said that when Trump tends to

637
00:34:24,320 --> 00:34:25,960
Speaker 1: be in the news, it can actually be a good

638
00:34:25,960 --> 00:34:28,640
Speaker 1: thing for Democrats because it really mobilizes their base and

639
00:34:28,680 --> 00:34:31,279
Speaker 1: gets done to turn out. Is that something we could

640
00:34:31,280 --> 00:34:34,920
Speaker 1: potentially see this time around too, Yeah, we can. Um,

641
00:34:35,080 --> 00:34:37,560
Speaker 1: you know, Donald Trump has had a very good, as

642
00:34:37,600 --> 00:34:41,200
Speaker 1: you spoke with Greg, a very good showing in all

643
00:34:41,280 --> 00:34:43,719
Speaker 1: of these primaries. Are many of these primaries, you know,

644
00:34:43,760 --> 00:34:47,040
Speaker 1: there were some exceptions like Georgia for instance, but across

645
00:34:47,120 --> 00:34:50,560
Speaker 1: the board, you know, I would say of his endorsements

646
00:34:50,560 --> 00:34:53,680
Speaker 1: at these top levels have done very well. But Democrats

647
00:34:53,719 --> 00:34:55,840
Speaker 1: are betting on the fact that the very people he

648
00:34:56,000 --> 00:34:58,919
Speaker 1: is getting into these uh you know, positions of being

649
00:34:58,960 --> 00:35:03,920
Speaker 1: the Republican nominee in some of these states like Arizona, Ohio, Pennsylvania,

650
00:35:04,239 --> 00:35:06,839
Speaker 1: Georgia's Senate are going to not be able to pull

651
00:35:06,880 --> 00:35:09,200
Speaker 1: it through in the general election, which will help them

652
00:35:09,200 --> 00:35:13,319
Speaker 1: potentially hold the Senate. So from that perspective, Democrats feel

653
00:35:13,360 --> 00:35:15,959
Speaker 1: like the more Trump in the news, the better, um.

654
00:35:16,160 --> 00:35:19,160
Speaker 1: You know. The flip side of this, of course, is

655
00:35:19,200 --> 00:35:22,439
Speaker 1: as we look to, for instance, the raid um, as

656
00:35:22,480 --> 00:35:25,680
Speaker 1: we look to the Donald Trump pleading the fifth Um.

657
00:35:26,120 --> 00:35:28,480
Speaker 1: I noted the fact that both the Wall Street Journal

658
00:35:28,520 --> 00:35:30,759
Speaker 1: and The New York Times have pieces today that this

659
00:35:30,800 --> 00:35:34,640
Speaker 1: puts real pressure on the Attorney General Merrick Garland to

660
00:35:35,040 --> 00:35:38,120
Speaker 1: put up and show why they had to take this

661
00:35:38,320 --> 00:35:42,720
Speaker 1: unprecedented step. And it is truly historic and unprecedented. Um,

662
00:35:42,840 --> 00:35:46,160
Speaker 1: why not, for instance, couldn't they cooperate? Why not do

663
00:35:46,239 --> 00:35:49,240
Speaker 1: this via subpoena? Why this sort of dramatic what Donald

664
00:35:49,239 --> 00:35:52,080
Speaker 1: Trump called falsely raid on his compound or his Mara

665
00:35:52,200 --> 00:35:55,600
Speaker 1: Lago estate, So that I think puts real pressure on

666
00:35:55,920 --> 00:35:59,360
Speaker 1: the Attorney General, who of course is you know, works

667
00:35:59,719 --> 00:36:02,960
Speaker 1: with then and for the Democrats and Joe Biden, and

668
00:36:03,040 --> 00:36:06,040
Speaker 1: in turn it does energize Republicans. So I think this

669
00:36:06,120 --> 00:36:09,000
Speaker 1: can split both ways in that perspective, and I think

670
00:36:09,040 --> 00:36:12,040
Speaker 1: that's really something to watch. And as Rick said, Trump

671
00:36:12,160 --> 00:36:16,480
Speaker 1: is saying, now he's there after me because they're worried

672
00:36:16,520 --> 00:36:19,120
Speaker 1: I'm going to run. So he's marching himself right into

673
00:36:19,120 --> 00:36:22,279
Speaker 1: a potential run. No, And I think, Jennie, that's such

674
00:36:22,600 --> 00:36:24,920
Speaker 1: a great point to break up, because now I think

675
00:36:24,960 --> 00:36:28,520
Speaker 1: there is this big question, well, what prompted this search

676
00:36:28,560 --> 00:36:32,000
Speaker 1: of mar logo? What were they looking for? What's actually

677
00:36:32,000 --> 00:36:34,399
Speaker 1: the takeaway? I mean, we know that there were some

678
00:36:35,080 --> 00:36:38,520
Speaker 1: boxes that the former Trump administration gave over to the

679
00:36:38,600 --> 00:36:42,000
Speaker 1: National Archives willingly. I think it was about fifteen boxes

680
00:36:42,040 --> 00:36:45,480
Speaker 1: of information. This is before the search, and it's a

681
00:36:45,560 --> 00:36:47,520
Speaker 1: kind of a question now, like, well, was you know

682
00:36:47,560 --> 00:36:50,640
Speaker 1: what was missing? Was there something in those documents? I

683
00:36:50,680 --> 00:36:54,399
Speaker 1: do want to pivot quickly to the deposition today for

684
00:36:54,520 --> 00:36:59,160
Speaker 1: the New York Attorney General. Trump went ahead and pleaded

685
00:36:59,200 --> 00:37:03,240
Speaker 1: the fifth Rick what does that actually mean in terms

686
00:37:03,600 --> 00:37:06,480
Speaker 1: of the investigation. Well, as Donald Trump has said in

687
00:37:06,520 --> 00:37:11,080
Speaker 1: the past, only guilty people take the fifth, so state

688
00:37:11,120 --> 00:37:14,680
Speaker 1: applies to him. Um, you know, look, I mean I

689
00:37:14,680 --> 00:37:18,160
Speaker 1: I think these are the kinds of tactics that real

690
00:37:18,239 --> 00:37:21,040
Speaker 1: estate people sometimes using New York and and it's pretty

691
00:37:21,040 --> 00:37:24,719
Speaker 1: clear that they think, Um, you know, these inflated valuations

692
00:37:24,760 --> 00:37:30,640
Speaker 1: and diminished h insurance coverages, you know, gave him outstanding

693
00:37:30,840 --> 00:37:33,680
Speaker 1: financial leverage, and he's now paying a price for that

694
00:37:33,760 --> 00:37:36,880
Speaker 1: because you know, the state is looking into it and

695
00:37:36,880 --> 00:37:39,279
Speaker 1: and sounds like they've got quite a case. So the

696
00:37:39,360 --> 00:37:43,120
Speaker 1: fact that he even had to do a U a

697
00:37:43,320 --> 00:37:47,040
Speaker 1: subpoena and and talked to the case officers was a

698
00:37:47,120 --> 00:37:50,000
Speaker 1: victory for the stake and lots of investigations that we

699
00:37:50,040 --> 00:37:54,080
Speaker 1: will be keeping our eye on here at Bloomberg. Jamie Schanzano,

700
00:37:54,320 --> 00:37:56,600
Speaker 1: Rick Davis, thank you so much for joining us, as

701
00:37:56,600 --> 00:38:00,879
Speaker 1: well as Greg Darrow and Republican Congressman Brian Style. I'm

702
00:38:00,920 --> 00:38:04,080
Speaker 1: Emily Wilkins, and for Joe Matthew. This is Bloomberg