1
00:00:00,440 --> 00:00:03,240
Speaker 1: Why from our nation this budget thing is going to

2
00:00:03,320 --> 00:00:06,040
Speaker 1: do nothing Space Force. I still think it's interesting President

3
00:00:06,080 --> 00:00:09,760
Speaker 1: Trump not playing his cards yet headlines Policy and Politics

4
00:00:09,800 --> 00:00:15,440
Speaker 1: colliding Sound with Kevin's Related The Insiders, the Influencers, the insides.

5
00:00:15,560 --> 00:00:17,799
Speaker 1: I would rather see a congressional solution. It's part of

6
00:00:17,800 --> 00:00:20,640
Speaker 1: my DNA to the Senate map in looks a lot

7
00:00:20,680 --> 00:00:23,320
Speaker 1: different than it looked in. You really have a divide

8
00:00:23,520 --> 00:00:26,280
Speaker 1: within Team Trump. The present has to do exactly what

9
00:00:26,320 --> 00:00:27,920
Speaker 1: people send him here to do, which is to get

10
00:00:27,960 --> 00:00:32,400
Speaker 1: it done. He's sound on with Kevin's related on Bloomberg

11
00:00:33,280 --> 00:00:35,600
Speaker 1: one and one oh five seven a m h D

12
00:00:35,680 --> 00:00:40,280
Speaker 1: two Boltimore breaking news this Friday evening. President Trump threatens

13
00:00:40,320 --> 00:00:43,880
Speaker 1: to shut down the border as soon as next week.

14
00:00:44,159 --> 00:00:48,680
Speaker 1: Will Mexico come to the negotiation tables on a deal? Meanwhile,

15
00:00:49,400 --> 00:00:52,360
Speaker 1: Linda McMahon, she says that she is going to step

16
00:00:52,400 --> 00:00:56,680
Speaker 1: down from the Small Business Administration. She's joining a pro

17
00:00:56,800 --> 00:01:01,200
Speaker 1: Trump reelection campaign effort plus exit fall out. Did you

18
00:01:01,240 --> 00:01:03,520
Speaker 1: see this? What's next for Theresa May? Is the UK

19
00:01:03,760 --> 00:01:07,800
Speaker 1: edges closer to election after UK Prime Minister Theresa May's

20
00:01:07,840 --> 00:01:12,000
Speaker 1: bregsit Brexit deal is rejected and we have a special

21
00:01:12,080 --> 00:01:16,319
Speaker 1: guest interview with Congressman Dan Crenshaw of Republican from Texas,

22
00:01:16,440 --> 00:01:20,840
Speaker 1: rising star within his party? Can he work with Democrats

23
00:01:20,880 --> 00:01:24,399
Speaker 1: in a divided, polarizing time? Also with us in studio,

24
00:01:24,680 --> 00:01:26,760
Speaker 1: I'm in New York. Volks in the New York Studio

25
00:01:26,840 --> 00:01:31,319
Speaker 1: the Mothership, Philip Bump, national correspondent from the Washington Post,

26
00:01:31,640 --> 00:01:35,399
Speaker 1: and Professor Brian Brennberg. He's Chairman of the Program and

27
00:01:35,480 --> 00:01:39,720
Speaker 1: Business and Finance and Associate Professor of Business and Economics

28
00:01:39,760 --> 00:01:42,760
Speaker 1: at the King's College in New York City. Before we

29
00:01:42,800 --> 00:01:45,160
Speaker 1: get to all of that, it was just one week

30
00:01:45,200 --> 00:01:47,600
Speaker 1: ago when we get the news only a week ago

31
00:01:48,000 --> 00:01:50,440
Speaker 1: about no indictments being in the Mula report. And flash

32
00:01:50,480 --> 00:01:54,360
Speaker 1: forward one week later, President Trump saying, this afternoon, I

33
00:01:54,440 --> 00:01:57,120
Speaker 1: was actually we were broadcasting with the d C Bureau

34
00:01:57,160 --> 00:01:59,280
Speaker 1: Chief on Bloomberg Television and we got these tweets from

35
00:01:59,280 --> 00:02:02,720
Speaker 1: President Trump and he says he's gonna shut down the border,

36
00:02:03,160 --> 00:02:05,880
Speaker 1: shut down the border or large parts of it unless

37
00:02:06,000 --> 00:02:10,040
Speaker 1: Mexico comes to some type of a negotiation deal. It's

38
00:02:10,040 --> 00:02:13,079
Speaker 1: why I'm so thrilled that we are joined by Phillip

39
00:02:13,080 --> 00:02:16,360
Speaker 1: Bubb He's a national correspondent for the Washington Post based

40
00:02:16,400 --> 00:02:19,200
Speaker 1: out of New York. Right, And we also have joining

41
00:02:19,280 --> 00:02:22,400
Speaker 1: us on the line, Manny Garcia. He's executive director for

42
00:02:22,440 --> 00:02:25,560
Speaker 1: the Texas Democratic Party. We're gonna check in with him

43
00:02:25,600 --> 00:02:29,800
Speaker 1: about how Democrats, especially down to Texas, are reacting to

44
00:02:29,960 --> 00:02:33,320
Speaker 1: this breaking news today about President Trump's decision to threaten

45
00:02:33,440 --> 00:02:37,239
Speaker 1: to shut down the border. And Professor Brian Brenberg. He's

46
00:02:37,360 --> 00:02:39,960
Speaker 1: chairman of the Program in Business and Finance and Associate

47
00:02:39,960 --> 00:02:43,080
Speaker 1: Professor of Business and Economics at the King's College in

48
00:02:43,080 --> 00:02:45,440
Speaker 1: New York City. And we're thrilled to have these all

49
00:02:45,520 --> 00:02:48,480
Speaker 1: stars with us for the panel. Okay, Philip, I want

50
00:02:48,480 --> 00:02:50,320
Speaker 1: to play for you what President Trump had to say

51
00:02:50,400 --> 00:02:54,240
Speaker 1: just within the last hour or so down Tomorrow Lago

52
00:02:54,440 --> 00:02:58,040
Speaker 1: about the tweet that he sent out earlier today threatening

53
00:02:58,080 --> 00:03:01,519
Speaker 1: to shut down parts of the border as early as

54
00:03:01,600 --> 00:03:04,519
Speaker 1: next week. Take a listen. So there's a very good

55
00:03:04,560 --> 00:03:07,160
Speaker 1: likelihood that I'll be closing the border next week. And

56
00:03:07,240 --> 00:03:10,600
Speaker 1: that'll be just fine with me. Will it be fine

57
00:03:10,880 --> 00:03:13,560
Speaker 1: for I don't know. Let's start with law enforcement officials.

58
00:03:13,680 --> 00:03:16,200
Speaker 1: What's going to happen? Well, I mean, let's let's let's

59
00:03:16,200 --> 00:03:18,200
Speaker 1: take a quick step back and say he could do

60
00:03:18,240 --> 00:03:19,880
Speaker 1: it as soon as next week. Donald front makes a

61
00:03:19,880 --> 00:03:21,360
Speaker 1: lot of promises about things he's going to do in

62
00:03:21,360 --> 00:03:23,680
Speaker 1: a week or two that end up to not actually happening, right,

63
00:03:24,160 --> 00:03:26,240
Speaker 1: So you know, this is sort of let's let's wait

64
00:03:26,240 --> 00:03:27,960
Speaker 1: and see. He's he's threatened in the past to shut

65
00:03:28,000 --> 00:03:30,280
Speaker 1: down the border. I mean, it's clear that he wants

66
00:03:30,320 --> 00:03:32,880
Speaker 1: to continue to take dramatic steps that suggests to the

67
00:03:32,880 --> 00:03:36,200
Speaker 1: American public house seriously, he takes the uh, the issue

68
00:03:36,200 --> 00:03:38,840
Speaker 1: of immigration on the border. This this, this tweet, if

69
00:03:38,880 --> 00:03:42,040
Speaker 1: nothing else, seems to reinforce that he's sending that message

70
00:03:42,040 --> 00:03:44,960
Speaker 1: to people. But you're right, there would be massive ramifications

71
00:03:44,960 --> 00:03:47,400
Speaker 1: if if we're talking about shutting down ports of entry

72
00:03:47,400 --> 00:03:49,200
Speaker 1: on the border between the United States of Mexico, there's

73
00:03:49,280 --> 00:03:51,680
Speaker 1: hundreds of thousands of vehicles that you know, across the

74
00:03:51,680 --> 00:03:54,480
Speaker 1: border in any given month. There's there's an enormous amount

75
00:03:54,480 --> 00:03:56,520
Speaker 1: of commerce. There's an enormous amount of stuff that goes

76
00:03:56,560 --> 00:03:59,120
Speaker 1: back and forth across the border. If you're shutting that down,

77
00:03:59,160 --> 00:04:00,800
Speaker 1: you're shutting it down, right. I mean, he said that

78
00:04:00,840 --> 00:04:02,840
Speaker 1: he might leave some places open, but then has huge

79
00:04:02,920 --> 00:04:05,800
Speaker 1: ramifications on commerce, has human huge ramifications on tours, and

80
00:04:05,880 --> 00:04:08,880
Speaker 1: him it has massive ramifications across the board, which may

81
00:04:08,920 --> 00:04:10,480
Speaker 1: be reason that he doesn't do it in the first place.

82
00:04:10,520 --> 00:04:13,360
Speaker 1: And he was kind of intense, right because here we

83
00:04:13,440 --> 00:04:17,400
Speaker 1: are earlier this morning, everyone around the world, the markets

84
00:04:17,720 --> 00:04:20,359
Speaker 1: are trying to make sense of what's going on across

85
00:04:20,400 --> 00:04:24,039
Speaker 1: the pond with bregsit and then President Trump sends out

86
00:04:24,040 --> 00:04:27,320
Speaker 1: this tweet. I'll read it quote. If Mexico doesn't immediately

87
00:04:27,320 --> 00:04:30,360
Speaker 1: stop all illegal immigration coming into the United States through

88
00:04:30,400 --> 00:04:33,800
Speaker 1: our southern border, I will be closing caps lock for

89
00:04:33,880 --> 00:04:37,159
Speaker 1: closing the border or large sections of the border next week.

90
00:04:37,440 --> 00:04:39,760
Speaker 1: This would be so easy for Mexico to do, but

91
00:04:39,839 --> 00:04:43,279
Speaker 1: they just take our money and talk. Uh. He goes

92
00:04:43,279 --> 00:04:45,360
Speaker 1: on to say that we lose a lot of money

93
00:04:45,400 --> 00:04:48,560
Speaker 1: with Mexico, especially when you added drug trafficking, and the

94
00:04:48,600 --> 00:04:51,760
Speaker 1: border closing would be a good thing. Manny Garcia joining

95
00:04:51,839 --> 00:04:54,960
Speaker 1: us from Texas. What part of Texas are you in? Many?

96
00:04:55,640 --> 00:04:58,839
Speaker 1: So I'm sitting in Texas right now, actually just across

97
00:04:58,880 --> 00:05:01,040
Speaker 1: the street from the Tech of Top Okay, so there

98
00:05:01,080 --> 00:05:03,440
Speaker 1: we are down in down in Austin, Texas. Mandy Garcia,

99
00:05:03,520 --> 00:05:07,800
Speaker 1: executive director for the Texas Democratic Party. How are how

100
00:05:07,839 --> 00:05:11,680
Speaker 1: are Democrats in Texas? Reacting to this tonight. Look, let

101
00:05:11,680 --> 00:05:14,599
Speaker 1: me tell you I'm originally from Bronswell, Texas on the

102
00:05:14,640 --> 00:05:18,000
Speaker 1: Royal grand Uh in the Royal Grande Valley, um, you know,

103
00:05:18,040 --> 00:05:21,200
Speaker 1: and in the in the valley, it's a beautiful diverse community.

104
00:05:21,640 --> 00:05:25,560
Speaker 1: Folks go back and forth from Matamoto, Mexico to Bronzell,

105
00:05:25,640 --> 00:05:29,719
Speaker 1: Texas every single day. Families live on both sides of

106
00:05:29,760 --> 00:05:33,400
Speaker 1: the border. Commerce goes back and forth. UM. It's it's

107
00:05:33,400 --> 00:05:37,920
Speaker 1: a true regional network. And Mexico is our most important

108
00:05:38,440 --> 00:05:43,520
Speaker 1: UH trading partner. UM. And when Donald Trump that's Texas

109
00:05:43,520 --> 00:05:46,200
Speaker 1: and his cross areas in seth Mexico and his cross hairs,

110
00:05:46,480 --> 00:05:48,640
Speaker 1: it's an attack on all of us. UM. It's attack

111
00:05:48,680 --> 00:05:52,080
Speaker 1: on our on our families, on our jobs, UM, and

112
00:05:52,200 --> 00:05:55,000
Speaker 1: our on our entire community. So you know, for us,

113
00:05:55,040 --> 00:05:58,000
Speaker 1: what we're looking forward to, and what I think Textans

114
00:05:58,040 --> 00:06:00,880
Speaker 1: are looking for is where John pointed it. You know,

115
00:06:00,960 --> 00:06:03,839
Speaker 1: where are where head cruising this? Where are those tetons

116
00:06:03,880 --> 00:06:06,120
Speaker 1: that are supposed to be big and bold in Washington

117
00:06:06,200 --> 00:06:09,200
Speaker 1: d fighting back and telling the federal government hands off

118
00:06:09,200 --> 00:06:11,920
Speaker 1: our land and stop messing with our community. We're gonna

119
00:06:11,920 --> 00:06:15,320
Speaker 1: be hearing from one of those Republican Texas Congressman Congressman

120
00:06:15,360 --> 00:06:18,000
Speaker 1: Dan Crunshaw coming up later in the program. Many Garcia

121
00:06:18,040 --> 00:06:21,720
Speaker 1: stays executive director for the Texas Democratic Party. We're talking

122
00:06:21,760 --> 00:06:24,920
Speaker 1: about President Trump's threats to shut down large portions, if

123
00:06:24,960 --> 00:06:27,920
Speaker 1: not all, of the US Mexico border. He made that

124
00:06:27,960 --> 00:06:31,839
Speaker 1: announcement via Twitter earlier today and reiterated it within the

125
00:06:31,920 --> 00:06:35,640
Speaker 1: last hour. Professor Brian Brenberg of the King's College in

126
00:06:35,680 --> 00:06:39,599
Speaker 1: New York City, Professor, what are the economic impact should

127
00:06:39,640 --> 00:06:43,520
Speaker 1: the President shut down the border? Uh, It's huge. I mean,

128
00:06:43,560 --> 00:06:47,159
Speaker 1: we're talking about six hundred billion dollars of goods and

129
00:06:47,240 --> 00:06:50,760
Speaker 1: services every year flowing across that border. If you shut

130
00:06:50,760 --> 00:06:53,400
Speaker 1: it down, it's hard to even project what kind of

131
00:06:53,440 --> 00:06:56,279
Speaker 1: effect that would have on our economy. You heard the

132
00:06:56,279 --> 00:06:58,520
Speaker 1: President talking last night. He does all the time about

133
00:06:58,680 --> 00:07:01,640
Speaker 1: the strong economy we have right now. I do not

134
00:07:01,960 --> 00:07:06,719
Speaker 1: see him wanting to jeopardize this economy that directly with

135
00:07:06,839 --> 00:07:09,840
Speaker 1: the we move here. So we're hearing rhetoric from him,

136
00:07:09,840 --> 00:07:11,800
Speaker 1: but when you look at the economic reality, I mean,

137
00:07:11,840 --> 00:07:15,280
Speaker 1: it is not hypothetical. It is immediate. Hundreds of thousands

138
00:07:15,280 --> 00:07:18,000
Speaker 1: of people, hundreds of millions of dollars per day, in trade.

139
00:07:18,600 --> 00:07:21,640
Speaker 1: I don't see that happening. Handel stays coming up. Congressman

140
00:07:21,760 --> 00:07:24,400
Speaker 1: Dan Crenshaw, Republican from Texas, what does he make of

141
00:07:24,440 --> 00:07:27,400
Speaker 1: the border fight? Remember, you can download the sound On

142
00:07:27,560 --> 00:07:30,840
Speaker 1: podcast on Apple iTunes, at Bloomberg dot com, or by

143
00:07:30,840 --> 00:07:34,320
Speaker 1: downloading the Bloomberg Business app. I'm Kevin CURRELLI. You're listening

144
00:07:34,360 --> 00:07:42,760
Speaker 1: to Bloomberg. You're listening to Sound On with Keivin Surreally

145
00:07:43,160 --> 00:07:46,800
Speaker 1: on Bloomberg and one oh five point seven of them

146
00:07:46,920 --> 00:07:49,640
Speaker 1: h D two Boltimore t G I F folks t

147
00:07:49,880 --> 00:07:53,200
Speaker 1: G I F. I'm Kevin CERELLI, Bloomberg News Chief Washington

148
00:07:53,320 --> 00:07:58,280
Speaker 1: correspondent for Bloomberg Television and Bloomberg Radio. Not in Washington tonight, though,

149
00:07:58,480 --> 00:08:00,560
Speaker 1: I'm in New York City at the other ship, the

150
00:08:00,600 --> 00:08:04,080
Speaker 1: headquarters here in New York City, joining us on the

151
00:08:04,080 --> 00:08:08,440
Speaker 1: line to help us navigate through some breaking news this evening,

152
00:08:08,480 --> 00:08:12,240
Speaker 1: which is President Trump's threat to shut down parts or

153
00:08:12,280 --> 00:08:16,280
Speaker 1: even the entire US Mexico border as soon as next week.

154
00:08:16,640 --> 00:08:20,600
Speaker 1: Is a congressman who represents a portion of the state, Uh,

155
00:08:20,640 --> 00:08:24,400
Speaker 1: well that's on the border. Texas Congressman Dan Crenshaw, a

156
00:08:24,440 --> 00:08:28,280
Speaker 1: Republican from Texas. Uh, he's also a rising star within

157
00:08:28,320 --> 00:08:32,240
Speaker 1: the Republican Party. Congressman, thank you for joining us on

158
00:08:32,280 --> 00:08:36,120
Speaker 1: the telephone line. We appreciated your response tonight to President

159
00:08:36,160 --> 00:08:39,080
Speaker 1: Trump's decision to shut down some of that border as

160
00:08:39,080 --> 00:08:42,880
Speaker 1: early as next week. Hey, well, first of all, it's

161
00:08:42,880 --> 00:08:45,240
Speaker 1: great to be with you. Um. You know, I'm not

162
00:08:45,320 --> 00:08:48,760
Speaker 1: exactly sure how how how that would happen and practice,

163
00:08:48,800 --> 00:08:51,240
Speaker 1: you know, he he threatened to do this before. Um,

164
00:08:51,320 --> 00:08:52,960
Speaker 1: and and that those is more important to look at

165
00:08:52,960 --> 00:08:55,720
Speaker 1: the reasons why we're even talking about such an extreme measure,

166
00:08:56,120 --> 00:08:58,720
Speaker 1: and that's because there's actually a crisis going on at

167
00:08:58,720 --> 00:09:02,000
Speaker 1: the border. We're on track have a hundred thousand apprehension

168
00:09:02,640 --> 00:09:06,560
Speaker 1: meaning illegal crossing at her border in the month of month. Okay,

169
00:09:06,600 --> 00:09:08,800
Speaker 1: last month it was almost eighty thousand, so it's rising

170
00:09:08,920 --> 00:09:11,800
Speaker 1: rather quickly. UM. So, so to say there's no crisis,

171
00:09:11,840 --> 00:09:14,240
Speaker 1: to say there is a manufactured crisis, to say there's

172
00:09:14,240 --> 00:09:18,520
Speaker 1: no emergency, that that has long been debunked by simple numbers.

173
00:09:18,960 --> 00:09:21,240
Speaker 1: We need to recognize this, and Congress actually needs to

174
00:09:21,280 --> 00:09:24,280
Speaker 1: act and that includes a few things. One, it's funding

175
00:09:24,280 --> 00:09:27,000
Speaker 1: the actual physical bearers that the president wants, whether that's

176
00:09:27,040 --> 00:09:29,679
Speaker 1: funding or walls or whatever it is. The Border Patrol

177
00:09:29,720 --> 00:09:32,720
Speaker 1: has long advocated for this, and they've already have identified

178
00:09:33,040 --> 00:09:35,760
Speaker 1: various locations where they need it. It's not everywhere. It's

179
00:09:35,760 --> 00:09:38,400
Speaker 1: not a two thousand mile concrete wall like Democrats a

180
00:09:38,480 --> 00:09:40,959
Speaker 1: light about, and the media frankly has lied about quite

181
00:09:41,000 --> 00:09:43,560
Speaker 1: a bit as saying that's the plan. That's never been

182
00:09:43,559 --> 00:09:46,240
Speaker 1: the plant. It's targeted. It makes sense, and it's a

183
00:09:46,320 --> 00:09:49,120
Speaker 1: mix of that and technology and personnel. The other thing

184
00:09:49,160 --> 00:09:51,360
Speaker 1: we absolutely need to do is performed away. Our asylum

185
00:09:51,400 --> 00:09:54,160
Speaker 1: processing works right now, there's incentives to bring children across

186
00:09:54,160 --> 00:09:56,360
Speaker 1: because they know if they do, they will be released

187
00:09:56,400 --> 00:09:58,920
Speaker 1: into the population and not have to come back for

188
00:09:59,000 --> 00:10:02,079
Speaker 1: their actual hearing. That's really problematic, and it's a draw

189
00:10:02,240 --> 00:10:04,880
Speaker 1: for people to come. We actually have to have a

190
00:10:04,960 --> 00:10:08,880
Speaker 1: regulated immigration system otherwise there is no immigration system, which

191
00:10:08,920 --> 00:10:11,480
Speaker 1: is what it's looking like right now. Congressman Dan Crenshaw,

192
00:10:11,559 --> 00:10:15,120
Speaker 1: Republican from Texas joining us on the telephone. We're talking

193
00:10:15,200 --> 00:10:18,600
Speaker 1: about the president's threats to close large portions of the

194
00:10:18,720 --> 00:10:22,240
Speaker 1: US Mexico border as early as next week, threats that

195
00:10:22,320 --> 00:10:26,920
Speaker 1: he made via Twitter earlier today and reiterated two reporters

196
00:10:26,960 --> 00:10:30,880
Speaker 1: down at his Moral Lago resort in Florida. Congressman Crenshaw

197
00:10:31,200 --> 00:10:34,559
Speaker 1: is a member of the Homeland Security and Budget committees,

198
00:10:34,920 --> 00:10:37,400
Speaker 1: so he knows a thing or two about the politics

199
00:10:37,400 --> 00:10:41,960
Speaker 1: and policy of immigration. In terms of the economics, Congressman

200
00:10:42,040 --> 00:10:45,600
Speaker 1: of how a decision to to shut down portions of

201
00:10:45,600 --> 00:10:48,000
Speaker 1: the border, do you have any concerns about what that

202
00:10:48,080 --> 00:10:52,840
Speaker 1: might mean from an economic perspective. Yeah, I mean it would,

203
00:10:52,880 --> 00:10:56,080
Speaker 1: it would. It would have quite an effect economically. I'm sure. Again,

204
00:10:56,080 --> 00:10:58,120
Speaker 1: I'm not exactly sure how this how this would work

205
00:10:58,120 --> 00:11:01,719
Speaker 1: in practice. Like I said, the that the President has

206
00:11:01,760 --> 00:11:05,000
Speaker 1: made those comments before, and uh, you know, well we'll

207
00:11:05,040 --> 00:11:06,640
Speaker 1: be if it really follows through with that. I think

208
00:11:06,640 --> 00:11:08,520
Speaker 1: the point is to get the Mexican government to take

209
00:11:08,559 --> 00:11:13,080
Speaker 1: this seriously. Um, the illegal immigration doesn't work for Mexico either.

210
00:11:13,200 --> 00:11:16,080
Speaker 1: Let's let's we'll not forget that that. Actually Mexican drug

211
00:11:16,080 --> 00:11:21,680
Speaker 1: cartels are are fueled by illegal immigration. There, it looks

212
00:11:21,720 --> 00:11:24,800
Speaker 1: like we're having something. Go ahead, We just you dropped

213
00:11:24,800 --> 00:11:27,440
Speaker 1: out there for a second, some some bad reception. Go ahead,

214
00:11:27,440 --> 00:11:31,480
Speaker 1: we coming from Central America to through the southern Mexican

215
00:11:31,480 --> 00:11:34,280
Speaker 1: border either. Yeah, I'm driving right now, so sorry, why

216
00:11:34,360 --> 00:11:36,720
Speaker 1: we appreciate we appreciate you calling in while you're on

217
00:11:36,760 --> 00:11:40,760
Speaker 1: the road, but let me ask you when the President says,

218
00:11:40,840 --> 00:11:44,520
Speaker 1: when the President says that he wants to have Mexico

219
00:11:44,760 --> 00:11:47,559
Speaker 1: do something or to quote unquote get with it, as

220
00:11:47,559 --> 00:11:50,160
Speaker 1: he said within the last two hours when he was

221
00:11:50,240 --> 00:11:52,800
Speaker 1: two reporters in mar Laugo, what would he like to

222
00:11:52,840 --> 00:11:55,080
Speaker 1: see Mexico do in the short term that would prove

223
00:11:55,120 --> 00:12:01,480
Speaker 1: to him that they are willing to negotiate Mexico Probably

224
00:12:01,640 --> 00:12:05,440
Speaker 1: the help put a wrong southern borders, helping these immigrants

225
00:12:05,480 --> 00:12:08,880
Speaker 1: and caravan come across so easily. UM, take the security

226
00:12:08,880 --> 00:12:11,400
Speaker 1: concerns on the southern border seriously. Right now, drug Artella

227
00:12:11,559 --> 00:12:15,760
Speaker 1: complete operational control of that border. The Mexican government take

228
00:12:15,800 --> 00:12:17,360
Speaker 1: back control of that, and they need to tell us

229
00:12:17,400 --> 00:12:18,760
Speaker 1: what kind of help they need, and if they need

230
00:12:18,760 --> 00:12:20,840
Speaker 1: our help, we should partner with them. Mexico is not

231
00:12:20,880 --> 00:12:24,840
Speaker 1: our enemy in this. Congressman Dan Crenshaw, I know you're busy,

232
00:12:24,880 --> 00:12:27,560
Speaker 1: I know you're you're literally quite literally on the road.

233
00:12:27,800 --> 00:12:29,200
Speaker 1: So I do want to get your take though on

234
00:12:29,280 --> 00:12:32,280
Speaker 1: the other developments today, which is that Attorney General bar

235
00:12:32,360 --> 00:12:37,240
Speaker 1: could release the Mueller report UH to UH Congress in

236
00:12:37,360 --> 00:12:41,480
Speaker 1: sometime in mid April, he sent that letter to lawmakers

237
00:12:41,480 --> 00:12:43,800
Speaker 1: on the House and send the judiciary committees. Were the

238
00:12:43,880 --> 00:12:47,320
Speaker 1: four hundred pages of this report, the President telling reporters

239
00:12:47,320 --> 00:12:49,600
Speaker 1: that he has nothing to hide. What do you make

240
00:12:49,880 --> 00:12:53,760
Speaker 1: of where the Mueller Report and it's released publicly or

241
00:12:54,040 --> 00:12:59,040
Speaker 1: redactions and whatnot? Where that goes from here? Well, as

242
00:12:59,440 --> 00:13:02,200
Speaker 1: we all know of, conclusions have been have been made public,

243
00:13:02,240 --> 00:13:04,520
Speaker 1: and I think that's the most important part. We're definitely

244
00:13:04,600 --> 00:13:07,520
Speaker 1: eager to see the entire report. We've all agreed that

245
00:13:07,559 --> 00:13:10,480
Speaker 1: it should be made public to the greatest extent possible. Obviously,

246
00:13:10,520 --> 00:13:13,680
Speaker 1: we have laws in place that prevents some of that. Um.

247
00:13:13,880 --> 00:13:16,520
Speaker 1: It's really what's the really interesting about the thing about

248
00:13:16,600 --> 00:13:19,920
Speaker 1: this is to watch the many of the Democrats, um,

249
00:13:20,080 --> 00:13:23,679
Speaker 1: you know, standing on their shapboxes demanding transparency as if

250
00:13:23,679 --> 00:13:26,160
Speaker 1: we're arguing with them, right, I mean, they're arguing against

251
00:13:26,200 --> 00:13:29,240
Speaker 1: no one, And it's kind of it's almost entertaining to watch. Remember,

252
00:13:29,240 --> 00:13:33,480
Speaker 1: we voted unanimously to actually release it to the fullest extent.

253
00:13:33,600 --> 00:13:35,920
Speaker 1: So I I find the whole I find the whole

254
00:13:35,920 --> 00:13:39,880
Speaker 1: affair to be quite bizarre, uh, but mildly entertaining. But

255
00:13:39,920 --> 00:13:41,800
Speaker 1: the realities that need to stop they need to stop

256
00:13:41,800 --> 00:13:44,800
Speaker 1: the spin. Okay, we all want to see the transparent report.

257
00:13:45,040 --> 00:13:47,480
Speaker 1: I see no indication that far or the President is

258
00:13:47,480 --> 00:13:50,080
Speaker 1: going to try and hide anything at all. We already

259
00:13:50,080 --> 00:13:53,280
Speaker 1: know the conclusion and uh, and they really need to

260
00:13:53,320 --> 00:13:55,240
Speaker 1: move on from this. I think this is not the

261
00:13:55,320 --> 00:13:57,319
Speaker 1: hill they want to die on, but they've hiked here

262
00:13:57,600 --> 00:14:01,640
Speaker 1: intent intent on keep this an issue, I think American people.

263
00:14:02,760 --> 00:14:07,040
Speaker 1: Congressman Dan Crenshaw, Republican from Texas, rising star within the

264
00:14:07,080 --> 00:14:10,280
Speaker 1: Republican Party. He also, of course, is a former Navy

265
00:14:10,480 --> 00:14:14,320
Speaker 1: seal and a member of the important and crucial two

266
00:14:14,520 --> 00:14:18,000
Speaker 1: important and crucial committees in Congress, the House Homeland Security

267
00:14:18,000 --> 00:14:21,560
Speaker 1: Committee and the Budget committees. Joining us via the telephone,

268
00:14:21,600 --> 00:14:25,400
Speaker 1: we appreciate, Congressman, at your time on a very busy,

269
00:14:25,720 --> 00:14:28,640
Speaker 1: busy Friday evening. Coming up, we have much more on

270
00:14:28,680 --> 00:14:32,520
Speaker 1: the Mueller fallout, will it finally be made public? And

271
00:14:32,560 --> 00:14:35,440
Speaker 1: the economic impacts of a host of different policy fronts

272
00:14:35,480 --> 00:14:38,080
Speaker 1: from across the Pond to the latest with Brexit and

273
00:14:38,200 --> 00:14:40,960
Speaker 1: here in the U S. Should the President shut down

274
00:14:41,000 --> 00:14:44,800
Speaker 1: portions of that US Mexico border. You can download the

275
00:14:45,000 --> 00:14:49,520
Speaker 1: sound on podcast on Apple iTunes at the Bloomberg Business

276
00:14:49,520 --> 00:14:51,920
Speaker 1: app or at Bloomberg dot com. You can also find

277
00:14:52,000 --> 00:14:54,840
Speaker 1: us on Radio dot com and I Heart Radio. I'm

278
00:14:54,920 --> 00:15:03,120
Speaker 1: Kevin Crelli. You're listening to Bloomberg. This is Sound On

279
00:15:03,360 --> 00:15:08,600
Speaker 1: with Kevin's relate on Bloomberg and one oh m h

280
00:15:08,720 --> 00:15:14,960
Speaker 1: D two Boltomore. What a week, folks, look alive. It's Friday, Friday, Friday.

281
00:15:15,040 --> 00:15:16,680
Speaker 1: It could be worse. You could have a lot of

282
00:15:16,760 --> 00:15:21,280
Speaker 1: uncertainty in your life. Like UK Prime Minister Theresa May.

283
00:15:21,520 --> 00:15:24,560
Speaker 1: Britain is edging closer to a general election now after

284
00:15:24,680 --> 00:15:30,320
Speaker 1: Parliament rejected Theresa May's bregsit teal for not once, not twice,

285
00:15:30,640 --> 00:15:34,160
Speaker 1: but third time. And of course this has deepened the

286
00:15:34,200 --> 00:15:38,680
Speaker 1: political crisis that has overtaken the country's bitter divorce from

287
00:15:38,720 --> 00:15:42,400
Speaker 1: the European Union. I'm reading from the Bloomberg terminal about

288
00:15:42,400 --> 00:15:45,200
Speaker 1: all of these developments. She really had a political gamble.

289
00:15:45,320 --> 00:15:49,080
Speaker 1: She said, look all step down, all resign, just get

290
00:15:49,120 --> 00:15:52,880
Speaker 1: on board with this deal. And well, politicians over across

291
00:15:52,920 --> 00:15:54,960
Speaker 1: the pond said no, we're not going to do it.

292
00:15:55,200 --> 00:15:58,400
Speaker 1: And now there's a lot of uncertainty because no one

293
00:15:58,440 --> 00:16:02,480
Speaker 1: really knows what exact please going to happen. Now I

294
00:16:02,520 --> 00:16:04,400
Speaker 1: think we're gonna learn a lot over the next forty

295
00:16:04,400 --> 00:16:07,280
Speaker 1: eight hours. In our colleagues, Guy Johnson leading the charge

296
00:16:07,360 --> 00:16:10,640
Speaker 1: over there for us, and in the Bloomberg London bureau,

297
00:16:10,720 --> 00:16:13,880
Speaker 1: are gonna be working throughout the weekend, no doubt. Uh.

298
00:16:13,960 --> 00:16:18,360
Speaker 1: Theresa May, for her part, she told lawmakers following the defeat, quote,

299
00:16:18,360 --> 00:16:20,800
Speaker 1: I fear we are reaching the limits of this process

300
00:16:20,840 --> 00:16:24,400
Speaker 1: in this house. The town weekend heading for its worst

301
00:16:24,480 --> 00:16:27,720
Speaker 1: months since October against the dollar. Philip Bump is a

302
00:16:27,840 --> 00:16:32,600
Speaker 1: national correspondent for The Washington Post. Professor Brian Brennberg is

303
00:16:32,680 --> 00:16:36,680
Speaker 1: chairman and Associate Professor of the Program in Business and

304
00:16:36,720 --> 00:16:39,600
Speaker 1: Finance at the King's College in New York City. Many

305
00:16:39,640 --> 00:16:41,840
Speaker 1: Garcia is with us down in Texas. He's on the

306
00:16:41,840 --> 00:16:45,160
Speaker 1: telephone line. He's executive director for the Texas Democratic Party.

307
00:16:45,160 --> 00:16:47,600
Speaker 1: We're gonna be coming to Manny to get his response

308
00:16:47,640 --> 00:16:50,680
Speaker 1: on the looming presidential But first I want to stick

309
00:16:50,720 --> 00:16:55,560
Speaker 1: with this Brexit talk. And I'm Kevin se Really of course, Bloomberg,

310
00:16:55,600 --> 00:16:58,880
Speaker 1: Chief Washington correspondent for Bloomberg TV. I'm Bloomberg Radio. All right,

311
00:16:58,880 --> 00:17:03,400
Speaker 1: Professor Brenberg us, what's going on with Brexit? That's the

312
00:17:03,640 --> 00:17:07,880
Speaker 1: least fair question anyone could ever asks everyone this whole

313
00:17:07,920 --> 00:17:09,760
Speaker 1: For the past three years, everyone's been like, oh, us

314
00:17:09,800 --> 00:17:13,359
Speaker 1: politics are crazy. I think you had seen you know

315
00:17:13,400 --> 00:17:17,119
Speaker 1: what you said it earlier. This seems to me unavoidably

316
00:17:17,160 --> 00:17:20,200
Speaker 1: that it's going to a general election. And if that's

317
00:17:20,280 --> 00:17:22,560
Speaker 1: the case in a couple of months, a couple of years,

318
00:17:22,600 --> 00:17:24,960
Speaker 1: when no, well not a couple of years. I think

319
00:17:25,000 --> 00:17:26,800
Speaker 1: it's more a matter of a couple of months. And

320
00:17:26,920 --> 00:17:31,200
Speaker 1: if that happens. Now you are seriously talking about whether

321
00:17:31,600 --> 00:17:33,760
Speaker 1: this Brexit thing happens at all. I mean, if the

322
00:17:33,800 --> 00:17:37,679
Speaker 1: election really shows that the referendum was off and and

323
00:17:37,720 --> 00:17:40,199
Speaker 1: by the way, that there's so much uncertainty there as

324
00:17:40,240 --> 00:17:43,760
Speaker 1: you mentioned, but we are actually talking about that because

325
00:17:44,320 --> 00:17:49,200
Speaker 1: Parliament cannot get anything done. They can't get anything gone,

326
00:17:49,200 --> 00:17:51,800
Speaker 1: they can't get anything and Plan B, C, D, E

327
00:17:51,920 --> 00:17:55,000
Speaker 1: f G, there is nothing they can agree on. If

328
00:17:55,040 --> 00:17:57,200
Speaker 1: that's the case, I don't see how you have any

329
00:17:57,200 --> 00:17:59,879
Speaker 1: other option, but general like Brian Brenberg is Chairman of

330
00:17:59,880 --> 00:18:02,800
Speaker 1: the Program in Business and financias well as the Associate

331
00:18:02,880 --> 00:18:06,359
Speaker 1: Professor Professor of Business and Economics at the King's College

332
00:18:06,359 --> 00:18:08,439
Speaker 1: in New York City, where I'm broadcasting from today. At

333
00:18:08,440 --> 00:18:11,600
Speaker 1: the mothership Bloomberg headquarters. You were talking about next steps,

334
00:18:11,600 --> 00:18:14,720
Speaker 1: Brian on Monday, UK lawmakers are gonna have a chance

335
00:18:14,760 --> 00:18:17,800
Speaker 1: to choose their own preferences and a series of votes

336
00:18:17,800 --> 00:18:21,280
Speaker 1: on Plan B options. Why should Americans right now? I mean, seriously,

337
00:18:21,400 --> 00:18:24,359
Speaker 1: why should folks in their car driving home from work

338
00:18:24,480 --> 00:18:29,240
Speaker 1: care about what they're doing in uh in on Brexit

339
00:18:29,400 --> 00:18:32,720
Speaker 1: and the uncertainty that it's that it's provided. UK is

340
00:18:32,800 --> 00:18:35,240
Speaker 1: one of the most important allies we have in the world.

341
00:18:35,320 --> 00:18:38,240
Speaker 1: The economic relationship we have with them is really important.

342
00:18:38,240 --> 00:18:39,679
Speaker 1: And by the way, this has a lot more to

343
00:18:39,720 --> 00:18:42,159
Speaker 1: say about the e U two, which again is an

344
00:18:42,200 --> 00:18:46,960
Speaker 1: important ally for us, just geopolitically and economically. All of

345
00:18:46,960 --> 00:18:50,000
Speaker 1: this speaks to the moment we're having when it comes

346
00:18:50,000 --> 00:18:55,280
Speaker 1: to populism populist economics, and that's not just a European issue,

347
00:18:55,480 --> 00:18:58,120
Speaker 1: that's an American issue. Now where did it star? Where

348
00:18:58,160 --> 00:19:00,119
Speaker 1: does it? And I don't know, but we ought be

349
00:19:00,160 --> 00:19:03,239
Speaker 1: paying close attention because if we have designs in this

350
00:19:03,359 --> 00:19:07,160
Speaker 1: country about radical change, we ought to measure how that

351
00:19:07,240 --> 00:19:10,480
Speaker 1: radical change is happening in the UK. It turns out

352
00:19:10,800 --> 00:19:13,320
Speaker 1: it might be a heck of a lot costlier and

353
00:19:13,480 --> 00:19:16,440
Speaker 1: messier and some of the folks who are proposed proponents

354
00:19:16,480 --> 00:19:18,240
Speaker 1: of it right now are saying it's just kind of

355
00:19:18,240 --> 00:19:20,080
Speaker 1: crazy that they would vote on something but not know

356
00:19:20,080 --> 00:19:22,880
Speaker 1: what they're voting on. I mean, I listen politicians down

357
00:19:22,880 --> 00:19:24,600
Speaker 1: in d C. I have a lot of questions for

358
00:19:24,640 --> 00:19:26,680
Speaker 1: them a lot of times, not just on the issues.

359
00:19:26,720 --> 00:19:28,920
Speaker 1: I'm like, what were you even thinking? But like they've

360
00:19:28,960 --> 00:19:31,080
Speaker 1: literally voted on something and they and now they might

361
00:19:31,119 --> 00:19:32,879
Speaker 1: have to do it all over again because they truly

362
00:19:32,880 --> 00:19:36,359
Speaker 1: didn't understand. It's just it's almost it's Almo so simple

363
00:19:36,359 --> 00:19:39,400
Speaker 1: that it's confusing. But I think that happens all the time. Actually,

364
00:19:39,440 --> 00:19:41,760
Speaker 1: I mean all the time in the US. I mean

365
00:19:43,080 --> 00:19:46,080
Speaker 1: take the Affordable Care Act that I mean, whether you're

366
00:19:46,080 --> 00:19:49,719
Speaker 1: four or against it, how many people really understood the

367
00:19:49,760 --> 00:19:52,480
Speaker 1: instrict sees of what was happening there talking about I mean,

368
00:19:52,520 --> 00:19:54,240
Speaker 1: talk about any of the policy proposals we on the

369
00:19:54,280 --> 00:19:58,000
Speaker 1: table right now. We have complication and we don't have clarity.

370
00:19:58,080 --> 00:19:59,600
Speaker 1: You know, that is one of the things, and I'm

371
00:19:59,680 --> 00:20:02,080
Speaker 1: maybe um naive, but one of the one of the

372
00:20:02,119 --> 00:20:04,920
Speaker 1: craziest things about being a reporter in Washington. Philip Bump

373
00:20:04,920 --> 00:20:07,040
Speaker 1: from The Post, I know, you know this when you

374
00:20:07,080 --> 00:20:10,280
Speaker 1: actually interview a lawmaker about a major piece of legislation

375
00:20:10,359 --> 00:20:12,960
Speaker 1: and they haven't read the thing, and you're like, wait,

376
00:20:13,040 --> 00:20:14,960
Speaker 1: you you were elect read the bill before you vote

377
00:20:15,000 --> 00:20:16,920
Speaker 1: on it. I want to get down to Manny Garcia,

378
00:20:17,040 --> 00:20:20,679
Speaker 1: executive director for the Texas Democratic Party. He joins us

379
00:20:20,680 --> 00:20:23,520
Speaker 1: on the line, Manny, thanks for for hanging with us.

380
00:20:23,920 --> 00:20:26,639
Speaker 1: We just heard from Brian Bremberg, the eco professor at

381
00:20:26,640 --> 00:20:31,120
Speaker 1: the King's College and NYC about the populist politics across

382
00:20:31,200 --> 00:20:34,520
Speaker 1: the pond. How are the populist politics playing in the

383
00:20:34,560 --> 00:20:40,240
Speaker 1: Democratic presidential field, particularly amongst some of the folks like

384
00:20:40,280 --> 00:20:44,320
Speaker 1: Senator Warren, Senator Sanders, and the rising insurgent stars like

385
00:20:44,440 --> 00:20:49,240
Speaker 1: former Congressman Beeto Overork. Absolutely well, you know, one of

386
00:20:49,280 --> 00:20:52,439
Speaker 1: the things we know and we hear from texting that

387
00:20:52,520 --> 00:20:55,199
Speaker 1: they're very excited about this rate. We've got two of

388
00:20:55,240 --> 00:20:57,600
Speaker 1: our own in uh to our of our own technis

389
00:20:57,640 --> 00:21:00,280
Speaker 1: Democrats in the rates. And we're very proud of Richmond

390
00:21:00,280 --> 00:21:03,760
Speaker 1: Betheo organ who am we on pastoral um? You know

391
00:21:03,840 --> 00:21:06,560
Speaker 1: we're hearing that folks want to know, what are you

392
00:21:06,640 --> 00:21:08,680
Speaker 1: going to do to change my daily life? You know,

393
00:21:08,760 --> 00:21:10,320
Speaker 1: what are you gonna do to protect my health care.

394
00:21:10,600 --> 00:21:12,920
Speaker 1: What are you gonna do to uh do something to

395
00:21:13,000 --> 00:21:15,760
Speaker 1: make sure that I have fair wages for my work,

396
00:21:15,880 --> 00:21:18,800
Speaker 1: that I have fair healthing, that have affordability and the

397
00:21:19,119 --> 00:21:23,280
Speaker 1: opportunity to get ahead. And that conversation about you know,

398
00:21:24,119 --> 00:21:26,440
Speaker 1: not you know what Donald Trump laid his tweet, but

399
00:21:26,640 --> 00:21:29,520
Speaker 1: rather you know what is the substantive plan that's going

400
00:21:29,560 --> 00:21:31,199
Speaker 1: to be able to make a difference for my family?

401
00:21:31,720 --> 00:21:34,280
Speaker 1: Um is it's really gonna gonna come into light as

402
00:21:34,320 --> 00:21:37,240
Speaker 1: we go further into this presidential debate. Alright, Panels stay,

403
00:21:37,320 --> 00:21:42,040
Speaker 1: speaking of populist politics, Senator Elizabeth Warren campaigning in Iowa,

404
00:21:42,600 --> 00:21:46,520
Speaker 1: say Marshalltown, Iowa, saying that if Tim Sloan, now the

405
00:21:46,640 --> 00:21:49,600
Speaker 1: former CEO of Wells Fargo, if he broke any laws,

406
00:21:49,640 --> 00:21:53,880
Speaker 1: he should be quote unquote prosecuted. Populist politics, Folks, it's

407
00:21:53,920 --> 00:21:57,040
Speaker 1: here on both sides of the aisle. Remember, you can

408
00:21:57,119 --> 00:22:01,480
Speaker 1: download the sound on podcast on Apple iTunes, at Bloomberg

409
00:22:01,560 --> 00:22:04,639
Speaker 1: dot com, or by downloading the Bloomberg Business app. You

410
00:22:04,680 --> 00:22:07,760
Speaker 1: can also find us on Radio dot com and I

411
00:22:07,960 --> 00:22:11,680
Speaker 1: Heart Radio Live from New York. I'm Kevin CURRELLI you're

412
00:22:11,760 --> 00:22:18,200
Speaker 1: listening to Bloomberg. You're listening to sound on with Kevin

413
00:22:18,280 --> 00:22:22,400
Speaker 1: CURRELLI on Bloomberg one and one oh five point seven

414
00:22:22,520 --> 00:22:27,360
Speaker 1: f m h D two, Baltimore. Friday, Folks, we've made

415
00:22:27,400 --> 00:22:30,200
Speaker 1: it to Friday, and it was a busy day. It

416
00:22:30,320 --> 00:22:32,879
Speaker 1: was only a week ago. I can't believe that only

417
00:22:33,000 --> 00:22:35,920
Speaker 1: one week ago when it was announced that there would

418
00:22:35,920 --> 00:22:39,560
Speaker 1: be no other indictments in the Mueller probe, and now

419
00:22:39,640 --> 00:22:42,400
Speaker 1: we're getting new headlines from the Attorney General William Barr

420
00:22:43,040 --> 00:22:47,480
Speaker 1: that he could actually issue a redacted Mueller report to

421
00:22:47,600 --> 00:22:51,600
Speaker 1: Congress by mid April. That's right, Attorney General William Barr

422
00:22:51,720 --> 00:22:55,480
Speaker 1: promised to send Congress a redacted version of Special Counsel

423
00:22:55,840 --> 00:22:59,600
Speaker 1: Bob Mueller's Russia report by mid April. What we don't

424
00:22:59,680 --> 00:23:03,479
Speaker 1: know will that be made public, how will that be handled.

425
00:23:03,520 --> 00:23:06,560
Speaker 1: What we do know is that you can bet that

426
00:23:06,840 --> 00:23:11,359
Speaker 1: every single staffer and lawmaker on the Senate and House

427
00:23:11,440 --> 00:23:13,680
Speaker 1: Judiciary committees. Those are the committees that are going to

428
00:23:13,720 --> 00:23:15,640
Speaker 1: get it that they're gonna have to sign their life

429
00:23:15,640 --> 00:23:18,399
Speaker 1: away in terms of getting access to this and in

430
00:23:18,520 --> 00:23:20,880
Speaker 1: talking with former staffers as well as current staffers who

431
00:23:20,920 --> 00:23:25,119
Speaker 1: work in relation with these committees, UH, they are fully

432
00:23:25,200 --> 00:23:28,960
Speaker 1: going to be prepared be prepared for that. President Trump's

433
00:23:28,960 --> 00:23:31,240
Speaker 1: down to Marrowlagro for the weekend. He was asked about

434
00:23:31,280 --> 00:23:34,040
Speaker 1: all this. He says he has nothing to hide. And

435
00:23:34,440 --> 00:23:37,640
Speaker 1: we had earlier on the show Congressman Dan Crenshaw. He's

436
00:23:37,640 --> 00:23:40,200
Speaker 1: a Republican from Texas, and he reminded us about that

437
00:23:40,359 --> 00:23:42,800
Speaker 1: both the other week four hundred and twenty to zero,

438
00:23:43,400 --> 00:23:46,280
Speaker 1: four hundred and twenty to zero in the House of

439
00:23:46,359 --> 00:23:50,760
Speaker 1: Representatives urging for the full release of the Mueller probe

440
00:23:51,320 --> 00:23:53,440
Speaker 1: so we might get it. We're still far from over

441
00:23:53,640 --> 00:23:56,399
Speaker 1: from talking about this report. We also found out that

442
00:23:56,480 --> 00:24:01,600
Speaker 1: the Mueller report is supposedly almost four dred pages that

443
00:24:01,800 --> 00:24:05,359
Speaker 1: doesn't include tables and doesn't include appendix is I'm not

444
00:24:05,400 --> 00:24:10,320
Speaker 1: making this up. It's from the Attorney General, William Barr himself. Meanwhile,

445
00:24:10,440 --> 00:24:12,720
Speaker 1: bregg'sit across the pond. It's a mess. We might get

446
00:24:12,760 --> 00:24:16,240
Speaker 1: more developments on Monday. Theresa May, the UK Prime Minister.

447
00:24:16,359 --> 00:24:17,960
Speaker 1: She said she would step down if they went on

448
00:24:18,040 --> 00:24:21,480
Speaker 1: board with her divorce deal. It got rejected, so they're

449
00:24:21,520 --> 00:24:23,639
Speaker 1: gonna have to have a couple more votes on Monday.

450
00:24:24,040 --> 00:24:25,920
Speaker 1: Our colleagues in London will keep us pegged on that

451
00:24:26,800 --> 00:24:30,600
Speaker 1: and President Trump If that wasn't enough, He's threatened today

452
00:24:30,720 --> 00:24:34,480
Speaker 1: to shut down parts or all of the US Mexico

453
00:24:34,640 --> 00:24:40,280
Speaker 1: border as early as next week. If that happens. Mandy Garcia,

454
00:24:40,359 --> 00:24:43,320
Speaker 1: executive director for the Texas Democratic Party, who joins us

455
00:24:43,400 --> 00:24:45,960
Speaker 1: via telephone, is going to have a busy week Here

456
00:24:46,040 --> 00:24:49,920
Speaker 1: for us. In studio is Philip Bump, national correspondent for

457
00:24:49,960 --> 00:24:54,359
Speaker 1: the Washington Post, and Professor Brian Brenberg. He's Chairman of

458
00:24:54,400 --> 00:24:57,800
Speaker 1: the Program and Business and Finance and Associate Professor of

459
00:24:57,880 --> 00:25:00,720
Speaker 1: Business and Economics that the King's College in New York City,

460
00:25:01,080 --> 00:25:03,080
Speaker 1: where I am today on a Friday. I'm in New

461
00:25:03,160 --> 00:25:05,760
Speaker 1: York and I want to start with Philip Up because

462
00:25:05,760 --> 00:25:08,080
Speaker 1: I was checking out a recent story that you wrote

463
00:25:08,119 --> 00:25:10,359
Speaker 1: today your byeline on the Washington Post. Find it at

464
00:25:10,359 --> 00:25:13,520
Speaker 1: the Washington Post dot com. For the ninth time, President

465
00:25:13,560 --> 00:25:18,560
Speaker 1: Trump celebrates hitting fifty percent approval, the president's approval ratings

466
00:25:18,560 --> 00:25:23,320
Speaker 1: are doing pretty good. I don't know if I got Yeah,

467
00:25:23,359 --> 00:25:25,240
Speaker 1: that's fine. I looked for the bright side for everyone,

468
00:25:25,280 --> 00:25:27,280
Speaker 1: no matter what party. So so here's what i'd say.

469
00:25:27,280 --> 00:25:28,960
Speaker 1: And we're talking at the beginning of the hour. We're

470
00:25:28,960 --> 00:25:31,200
Speaker 1: talking about this closing down the border and you know,

471
00:25:31,280 --> 00:25:32,440
Speaker 1: part of what he wants to do is he wants

472
00:25:32,440 --> 00:25:34,040
Speaker 1: to send this message toos base. He always wants to

473
00:25:34,040 --> 00:25:35,760
Speaker 1: send a message too base, I'm working hard, I'm doing

474
00:25:35,800 --> 00:25:37,800
Speaker 1: what I said, you know what, I'm taking these steps.

475
00:25:37,960 --> 00:25:39,720
Speaker 1: At the same time, he also wants to present this

476
00:25:40,119 --> 00:25:43,160
Speaker 1: this image that he is this very popular, well liked president.

477
00:25:43,240 --> 00:25:44,720
Speaker 1: And you know, he says these things all the time

478
00:25:44,760 --> 00:25:47,560
Speaker 1: on Twitter, but he he remarkably keeps coming back to

479
00:25:47,640 --> 00:25:50,480
Speaker 1: the same data points from the same poster rasmuson Reports,

480
00:25:50,520 --> 00:25:52,760
Speaker 1: which is a very friendly poster to him. And so

481
00:25:53,000 --> 00:25:54,960
Speaker 1: for nine times he said, oh, I finally hit fifty

482
00:25:55,280 --> 00:25:57,119
Speaker 1: in the polls. Because what he's trying to do is

483
00:25:57,200 --> 00:26:00,280
Speaker 1: constantly project I'm winning, I'm getting things done, I'm a

484
00:26:00,359 --> 00:26:02,960
Speaker 1: popular president, and I'm delivering for you guys. And that's

485
00:26:03,000 --> 00:26:04,720
Speaker 1: why he does these things, even if it seems in

486
00:26:04,880 --> 00:26:07,560
Speaker 1: the broad range kind of soil upon only as sella

487
00:26:07,640 --> 00:26:09,160
Speaker 1: last night trying to get up here to New York

488
00:26:09,480 --> 00:26:13,480
Speaker 1: and I've got like one attention tuned into the Gonzaga game,

489
00:26:13,520 --> 00:26:15,920
Speaker 1: which thankfully they won, and then I've got my other

490
00:26:15,960 --> 00:26:18,439
Speaker 1: attention on this speech that you couldn't escape because President

491
00:26:18,440 --> 00:26:21,440
Speaker 1: Trump's out in Michigan and Cedar rapids. I mean and

492
00:26:21,560 --> 00:26:24,200
Speaker 1: and talking about what you just hit on, which is

493
00:26:24,520 --> 00:26:27,480
Speaker 1: he's espousing that the economy is strong, that the trade

494
00:26:27,560 --> 00:26:32,000
Speaker 1: policies and are are continuing to go U strong. But

495
00:26:32,119 --> 00:26:34,960
Speaker 1: Mandy Garcia, who joins us on the line from Austin, Texas,

496
00:26:35,440 --> 00:26:39,159
Speaker 1: you're the executive director for the Texas Democratic Party. Can

497
00:26:39,280 --> 00:26:40,879
Speaker 1: the president? I know you're gonna say no, but can

498
00:26:41,080 --> 00:26:43,400
Speaker 1: can so? I guess you're gonna say, I'm thinking out

499
00:26:43,400 --> 00:26:46,040
Speaker 1: loud on a Friday, the President. You're gonna say you

500
00:26:46,119 --> 00:26:48,479
Speaker 1: disagree that that the economy is going strong. But how

501
00:26:48,520 --> 00:26:52,239
Speaker 1: can Democrats make that point on the campaign trail? Uh?

502
00:26:52,359 --> 00:26:54,439
Speaker 1: To to make their case when the President is going

503
00:26:54,480 --> 00:26:57,840
Speaker 1: to say, well, the economy is working so well. Look,

504
00:26:58,200 --> 00:27:01,520
Speaker 1: regular folks, UH. Here in Texas, one of the state

505
00:27:01,600 --> 00:27:04,879
Speaker 1: with the most largest uninsured population in the country, a

506
00:27:04,960 --> 00:27:07,439
Speaker 1: stay was one of the most highest number of minimum

507
00:27:07,480 --> 00:27:10,240
Speaker 1: wage jobs. UM are and seeing that in their in

508
00:27:10,280 --> 00:27:12,920
Speaker 1: their bank account UM instead of what they're seeing is

509
00:27:13,000 --> 00:27:16,119
Speaker 1: chaos in Washington, d C. Instead, what they're seeing is,

510
00:27:16,320 --> 00:27:19,280
Speaker 1: you know, an apologist in John Cornyn for the president.

511
00:27:19,359 --> 00:27:22,360
Speaker 1: While Texas is in their crosshairs, and while the relationship

512
00:27:22,800 --> 00:27:26,200
Speaker 1: with Mexico and most important trading partner UM is in

513
00:27:26,320 --> 00:27:29,800
Speaker 1: jeopardy and constantly is being attacked from DC UM. So

514
00:27:30,080 --> 00:27:32,359
Speaker 1: what folks want to see here is they want to

515
00:27:32,400 --> 00:27:35,440
Speaker 1: make sure that there is stability in DC, that there's

516
00:27:35,480 --> 00:27:38,120
Speaker 1: some sanity in the process, and that somebody is gonna

517
00:27:38,119 --> 00:27:42,120
Speaker 1: be doing something that actually changes their daily life from healthcare,

518
00:27:42,240 --> 00:27:45,240
Speaker 1: to their wages, to their to their housing um to

519
00:27:45,320 --> 00:27:48,639
Speaker 1: their educational opportunity to move forward. And this is one

520
00:27:48,680 --> 00:27:52,720
Speaker 1: of the reasons why you know, Donald Trump has done

521
00:27:52,760 --> 00:27:55,000
Speaker 1: everything he can to put Texas into play. Texas is

522
00:27:55,040 --> 00:27:57,760
Speaker 1: now the biggest battleground state in the country, and he's

523
00:27:57,800 --> 00:28:01,120
Speaker 1: more unpopular here with a forty one pretend approval rating

524
00:28:01,680 --> 00:28:06,200
Speaker 1: uh than in just about every single battleground. But you know,

525
00:28:06,600 --> 00:28:07,920
Speaker 1: you know, just to play the other side, because we

526
00:28:07,960 --> 00:28:09,320
Speaker 1: knew where a man he was gonna come down on

527
00:28:09,440 --> 00:28:14,080
Speaker 1: that the president can talk legitimately about great job growth

528
00:28:14,240 --> 00:28:17,000
Speaker 1: since he's been president, he can talk legitimately about the

529
00:28:17,080 --> 00:28:20,800
Speaker 1: strongest wage growth we've seen in about a decade. So

530
00:28:20,920 --> 00:28:22,879
Speaker 1: when he goes to Michigan and he kind of touts

531
00:28:22,920 --> 00:28:24,680
Speaker 1: the same thing over and over again, I get that,

532
00:28:24,840 --> 00:28:27,479
Speaker 1: but like that's messaging one oh one. If you've got

533
00:28:27,560 --> 00:28:30,120
Speaker 1: something you want to get across, say it, even it's

534
00:28:30,119 --> 00:28:32,639
Speaker 1: your fifty percent approval rating, Like, I'd rather talk about

535
00:28:32,760 --> 00:28:35,119
Speaker 1: that than the other things I don't like, right, I mean,

536
00:28:35,160 --> 00:28:36,960
Speaker 1: can be fault him for that? No, No, that's sorry.

537
00:28:37,000 --> 00:28:40,040
Speaker 1: I mean you're absolutely right. And obviously this is what

538
00:28:40,120 --> 00:28:42,160
Speaker 1: Trump does. He's a brand guy. He talks Trump, he

539
00:28:42,200 --> 00:28:43,760
Speaker 1: talks about what he's doing about But you know, I

540
00:28:43,840 --> 00:28:45,560
Speaker 1: do want to come back to this idea that just

541
00:28:45,720 --> 00:28:47,440
Speaker 1: by talking about the economy is going to be this

542
00:28:47,520 --> 00:28:49,320
Speaker 1: huge boon for him. And we saw actually if you

543
00:28:49,400 --> 00:28:52,360
Speaker 1: look at right before the midterm elections, if you compare

544
00:28:52,640 --> 00:28:55,240
Speaker 1: past historic collection dad about the popularity of the president

545
00:28:55,280 --> 00:28:58,600
Speaker 1: and the strength of economy. Based on popularity of the president,

546
00:28:59,160 --> 00:29:02,040
Speaker 1: the Democrats gonna pick up forty seats. Based on the economy,

547
00:29:02,200 --> 00:29:03,680
Speaker 1: it was gonna be a wash. And what happened to

548
00:29:03,720 --> 00:29:06,040
Speaker 1: Democrats picked up forty seats. Why because at the end

549
00:29:06,080 --> 00:29:08,840
Speaker 1: of the day, Democrats came out to vote against Donald Trump, right,

550
00:29:09,000 --> 00:29:10,800
Speaker 1: they came out to vote about healthcare, they came out

551
00:29:10,800 --> 00:29:12,800
Speaker 1: to vote for all these things. The economy didn't sweet them.

552
00:29:12,840 --> 00:29:15,160
Speaker 1: And so yes, he can keep putting this message out there,

553
00:29:15,240 --> 00:29:17,320
Speaker 1: but is it gonna help him in when he's still

554
00:29:17,400 --> 00:29:19,640
Speaker 1: Donald Trump and still that dislike It's a different question.

555
00:29:19,760 --> 00:29:22,360
Speaker 1: You could argue, though, I mean, again, not to relitigate

556
00:29:22,400 --> 00:29:24,320
Speaker 1: the mid terms. But I think one of the critiques

557
00:29:24,400 --> 00:29:27,160
Speaker 1: of President Trump and Republicans is they had no message

558
00:29:27,200 --> 00:29:29,760
Speaker 1: discipline running into that except they wanted to talk about

559
00:29:29,800 --> 00:29:32,080
Speaker 1: They made a big bet on border security and that

560
00:29:32,200 --> 00:29:34,560
Speaker 1: turned out not to work. I mean, if he comes

561
00:29:34,640 --> 00:29:37,240
Speaker 1: back and hits the economy hard time and time again,

562
00:29:37,680 --> 00:29:40,280
Speaker 1: with a FED that seems ready to keep rates low,

563
00:29:40,520 --> 00:29:43,200
Speaker 1: with a trade deal that might happen. And I gotta

564
00:29:43,200 --> 00:29:45,120
Speaker 1: I gotta interrupt here because you mentioned the FED, and

565
00:29:45,200 --> 00:29:48,240
Speaker 1: we've got a breaking news tweet from President Donald Trump himself.

566
00:29:48,720 --> 00:29:53,080
Speaker 1: He tweets quote, had the Fed not mistakenly raised interest rates,

567
00:29:53,200 --> 00:29:56,560
Speaker 1: especially since there is very little inflation, and had they

568
00:29:56,640 --> 00:30:01,320
Speaker 1: not done the ridiculously timed quantitative tighten in the three percent,

569
00:30:01,440 --> 00:30:04,400
Speaker 1: GDP and stock market would have both been much higher,

570
00:30:04,880 --> 00:30:07,240
Speaker 1: and world markets would be in a better place and

571
00:30:07,400 --> 00:30:10,800
Speaker 1: well fed. Share Powell if you were having a good

572
00:30:10,840 --> 00:30:15,600
Speaker 1: Friday afternoon. He's used to watch some basketball, you know,

573
00:30:16,080 --> 00:30:20,200
Speaker 1: I mean, alright, icon professor from the King's College of

574
00:30:20,240 --> 00:30:23,000
Speaker 1: New York. I think Powell's so used to hearing stuff

575
00:30:23,040 --> 00:30:25,000
Speaker 1: like that, it just rolls right off his back. Look.

576
00:30:25,000 --> 00:30:27,880
Speaker 1: I mean, you know, it is as an overstating it

577
00:30:27,960 --> 00:30:29,920
Speaker 1: here a little bit, probably, But there are a heck

578
00:30:29,960 --> 00:30:32,040
Speaker 1: of a lot of people in finance we're saying, Yeah,

579
00:30:32,120 --> 00:30:35,640
Speaker 1: I think the FED overshot itself a little bit last year,

580
00:30:35,720 --> 00:30:37,480
Speaker 1: and now we're in this situation where you have people

581
00:30:37,520 --> 00:30:41,040
Speaker 1: talking about a rate cut this year. The fact that

582
00:30:41,120 --> 00:30:45,160
Speaker 1: we're even talking about that suggests the Fed probably got

583
00:30:45,320 --> 00:30:48,000
Speaker 1: something wrong last year and might have had its projections

584
00:30:48,080 --> 00:30:50,400
Speaker 1: off a little bit. So, you know, take him at

585
00:30:50,440 --> 00:30:52,040
Speaker 1: his word all the way. I don't know about that,

586
00:30:52,120 --> 00:30:54,040
Speaker 1: but the sentiment behind it, there's a lot of people

587
00:30:54,440 --> 00:30:57,080
Speaker 1: in the know who would share that view. Those roars

588
00:30:57,320 --> 00:31:00,320
Speaker 1: of thunderous applause are not from Duke fans, but from

589
00:31:00,360 --> 00:31:04,880
Speaker 1: Stephen Moore, who probably is loudly applauding. Uh that. Okay.

590
00:31:04,880 --> 00:31:07,320
Speaker 1: I want to give our last word to Mandy Garcia,

591
00:31:07,360 --> 00:31:09,960
Speaker 1: who has been very patient in his time with us

592
00:31:10,080 --> 00:31:13,479
Speaker 1: on from Austin, Texas. He's executive director for the Texas

593
00:31:13,920 --> 00:31:18,160
Speaker 1: Democratic Party. What about this trade policy. We've got a

594
00:31:18,200 --> 00:31:19,560
Speaker 1: little bit of time left. But what do you what

595
00:31:19,640 --> 00:31:21,400
Speaker 1: about the trade talks? How is that going to play

596
00:31:21,480 --> 00:31:26,959
Speaker 1: that populist streak for for this democratic field. Look, at

597
00:31:26,960 --> 00:31:29,360
Speaker 1: the end of the day, we are a border state.

598
00:31:29,480 --> 00:31:32,800
Speaker 1: We're a state that relies on a strong relationship, um

599
00:31:33,120 --> 00:31:35,760
Speaker 1: with Mexico, and we're we're a huge economy in and

600
00:31:35,880 --> 00:31:38,520
Speaker 1: of ourselves. You know, it's funny when Donald Trump wants

601
00:31:38,520 --> 00:31:40,520
Speaker 1: to take credit for the economy. But a lot of

602
00:31:40,560 --> 00:31:43,040
Speaker 1: the jobs that are being created in Texas are in Dallas,

603
00:31:43,080 --> 00:31:45,760
Speaker 1: which is run by Democrats, Houston, which is run by Democrats,

604
00:31:45,800 --> 00:31:49,160
Speaker 1: and Antonio, run by Democrats often run a Democrats. Uh.

605
00:31:49,200 --> 00:31:51,640
Speaker 1: In practice, about every major city is run by Democrats,

606
00:31:51,760 --> 00:31:53,360
Speaker 1: with the exception of Fort Worth, and we're about to

607
00:31:53,360 --> 00:31:56,240
Speaker 1: think about one pretty soon. Um. And so you know

608
00:31:56,280 --> 00:31:58,520
Speaker 1: when we when we look at that, Uh, it's gonna

609
00:31:58,520 --> 00:32:00,840
Speaker 1: be very important that as we move forward, we have

610
00:32:00,920 --> 00:32:04,800
Speaker 1: a president that actually understand the deep relationship that we

611
00:32:04,920 --> 00:32:07,480
Speaker 1: have with our trading partners and no longer putting in

612
00:32:07,560 --> 00:32:10,959
Speaker 1: jeopardy this relationship with every single tweet that can come

613
00:32:10,960 --> 00:32:13,000
Speaker 1: out in every hour. And we should note that the

614
00:32:13,120 --> 00:32:15,600
Speaker 1: border might shut down next week and on April three.

615
00:32:15,680 --> 00:32:18,880
Speaker 1: I believe the Chinese Vice Premier Leah Leo Hua is

616
00:32:18,920 --> 00:32:22,280
Speaker 1: going to be in Washington, d C. This after Secretary

617
00:32:22,400 --> 00:32:26,920
Speaker 1: Manution and Trade Representative Lightheiser have been over in China

618
00:32:27,320 --> 00:32:30,760
Speaker 1: negotiating with that. Yes or no to the professor Brian Bremberg,

619
00:32:31,000 --> 00:32:33,480
Speaker 1: will there be a US China trade deal announced when

620
00:32:33,680 --> 00:32:36,880
Speaker 1: Leo Hua arrives in Washington. I don't think so. I

621
00:32:36,960 --> 00:32:38,760
Speaker 1: think we get one this year, but not then. All right,

622
00:32:38,880 --> 00:32:42,480
Speaker 1: My thanks to Philip Bump, National correspondent at the Washington Post,

623
00:32:42,560 --> 00:32:45,600
Speaker 1: Professor Bryan Bremberg over at the King's College in New

624
00:32:45,680 --> 00:32:49,200
Speaker 1: York City, and Mandy Garcia, executive director for the Texas

625
00:32:49,320 --> 00:32:53,080
Speaker 1: Democratic Party. Also a special thanks to Congressman Dan Crunshaw,

626
00:32:53,120 --> 00:32:56,640
Speaker 1: Republican from Texas for joining us earlier in the program.

627
00:32:56,760 --> 00:32:59,160
Speaker 1: That's it for me. Have a great weekend, everybody. You

628
00:32:59,280 --> 00:33:02,640
Speaker 1: can download the sound on podcast on Apple iTunes, find

629
00:33:02,720 --> 00:33:05,800
Speaker 1: us on I Heart Radio radio dot com, and the

630
00:33:05,840 --> 00:33:09,080
Speaker 1: Bloomberg Business app. You're listening to Bloomberg