1 00:00:02,520 --> 00:00:07,400 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. 2 00:00:08,000 --> 00:00:11,039 Speaker 2: Many talk few have to act in one of them. 3 00:00:11,400 --> 00:00:14,280 Speaker 3: As the Governor of Connecticut and Medlamont joins us right 4 00:00:14,320 --> 00:00:16,400 Speaker 3: now in our studios this morning. 5 00:00:16,520 --> 00:00:17,119 Speaker 2: You're wounded. 6 00:00:17,120 --> 00:00:18,800 Speaker 3: For those of you on radio, He's got the sling 7 00:00:18,880 --> 00:00:22,119 Speaker 3: going in that you're on a trade mission to India. 8 00:00:22,720 --> 00:00:27,240 Speaker 3: How is President Trump helping Connecticut with your trade relations 9 00:00:27,360 --> 00:00:27,960 Speaker 3: with India? 10 00:00:29,160 --> 00:00:33,120 Speaker 1: India was nervous as heck about President Trump. That said, 11 00:00:33,159 --> 00:00:35,120 Speaker 1: we went to Eastern India, which is by far the 12 00:00:35,120 --> 00:00:39,400 Speaker 1: most innovative and entrepreneurial part. We did a trade mission there, 13 00:00:39,520 --> 00:00:42,520 Speaker 1: met with a forty or fifty companies, some of which 14 00:00:42,560 --> 00:00:45,040 Speaker 1: you're thinking about getting a foothold in the United States. 15 00:00:45,320 --> 00:00:47,559 Speaker 1: I had to spell Connecticut forum, but now they know, well, 16 00:00:47,600 --> 00:00:47,879 Speaker 1: you have. 17 00:00:47,840 --> 00:00:51,120 Speaker 2: To spell Connecticut for me as well. Governor Laman Bloomenthal 18 00:00:51,440 --> 00:00:51,800 Speaker 2: as well. 19 00:00:51,840 --> 00:00:56,840 Speaker 3: On this yesterday. You take electricity from Canada. If doug 20 00:00:56,960 --> 00:01:00,920 Speaker 3: Ford of Ontario or Quebec Hydro, if they pull the plug, 21 00:01:01,120 --> 00:01:02,560 Speaker 3: what's it mean for Bridgeport. 22 00:01:04,000 --> 00:01:06,960 Speaker 1: We have some very high electric prices throughout New England, 23 00:01:07,000 --> 00:01:09,840 Speaker 1: including Connecticut, and we bring down a lot of hydro 24 00:01:10,000 --> 00:01:12,959 Speaker 1: from Canada. So you put ten percent on there that 25 00:01:12,959 --> 00:01:15,679 Speaker 1: would add about seventy five million. You put twenty percent 26 00:01:15,760 --> 00:01:18,640 Speaker 1: on there, that'd be one hundred and fifty million additional 27 00:01:18,680 --> 00:01:20,880 Speaker 1: fees paid for by our rate payers. 28 00:01:20,920 --> 00:01:24,000 Speaker 4: Not a great idea, So, Governor, as you've probably seen 29 00:01:24,080 --> 00:01:26,039 Speaker 4: here in the financial markets, which Tom and I and 30 00:01:26,440 --> 00:01:28,440 Speaker 4: deal with every day, a lot of uncertainty in the 31 00:01:28,440 --> 00:01:32,479 Speaker 4: marketplace as it relates to economic policy of this new administration. 32 00:01:32,520 --> 00:01:35,679 Speaker 4: We're seeing that in lower stock prices and weaker dollar. 33 00:01:36,240 --> 00:01:39,360 Speaker 4: How did you see it from Connecticut? How did you 34 00:01:39,400 --> 00:01:42,160 Speaker 4: and your constituency look at this current environment. 35 00:01:42,640 --> 00:01:44,600 Speaker 1: I come out of the business world. The business world 36 00:01:44,680 --> 00:01:47,560 Speaker 1: hates uncertainty. If you know, when I took over Connecticut, 37 00:01:47,640 --> 00:01:50,200 Speaker 1: we were going from boom to bust a bust and 38 00:01:50,400 --> 00:01:54,120 Speaker 1: raising taxes. And we've had six straight balanced budgets trying 39 00:01:54,160 --> 00:01:57,800 Speaker 1: to give people a certainty or unemployment rate is way 40 00:01:57,800 --> 00:02:00,200 Speaker 1: down and job growth is up. But it's just the 41 00:02:00,280 --> 00:02:03,800 Speaker 1: opposite in Washington, DC right now all that uncertainty starting 42 00:02:03,840 --> 00:02:07,000 Speaker 1: with tariffs, are looking at deficits, a lot of businesses 43 00:02:07,000 --> 00:02:08,760 Speaker 1: that I think I'm going to hold off right now 44 00:02:08,800 --> 00:02:10,960 Speaker 1: before I make that investment. That's not good. 45 00:02:11,720 --> 00:02:14,359 Speaker 4: So in Connecticut, what are the chief issues that you 46 00:02:14,400 --> 00:02:16,919 Speaker 4: guys are dealing with from an economic perspective these days. 47 00:02:18,040 --> 00:02:20,760 Speaker 1: Look, we're going to we're looking at our seventh and 48 00:02:20,840 --> 00:02:25,000 Speaker 1: eighth balanced budget. Unless they cut medicaid by a billion dollars, 49 00:02:25,120 --> 00:02:28,000 Speaker 1: you cut medicaid by a billion dollars, our budget has 50 00:02:28,040 --> 00:02:30,680 Speaker 1: turned upside down. And that's true of forty nine other states. 51 00:02:30,919 --> 00:02:33,200 Speaker 4: What are you hearing from the federal government about some 52 00:02:33,240 --> 00:02:34,359 Speaker 4: of those big ticket items. 53 00:02:34,560 --> 00:02:36,760 Speaker 1: I don't think they know right now. I was down there. 54 00:02:36,840 --> 00:02:40,520 Speaker 1: I met with folks, the secretaries that just come into office. 55 00:02:40,560 --> 00:02:43,440 Speaker 1: They're coming up and they're modeling. But everything runs through 56 00:02:43,440 --> 00:02:44,080 Speaker 1: the White House. 57 00:02:44,280 --> 00:02:46,680 Speaker 3: For those of you across the nation in your commute today, 58 00:02:46,960 --> 00:02:49,799 Speaker 3: a Democrat, the governor of Connecticut is with us, Ned 59 00:02:49,880 --> 00:02:55,120 Speaker 3: lamont Is. He goes through the tiptoes through all this 60 00:02:55,240 --> 00:02:58,240 Speaker 3: different policy changes we're seeing. I'm going to cut to 61 00:02:58,280 --> 00:03:01,000 Speaker 3: the chase. You got to vote of confidence from the people. 62 00:03:01,080 --> 00:03:03,960 Speaker 3: You get forty nine percent of the vote and one 63 00:03:04,200 --> 00:03:07,000 Speaker 3: in twenty eighteen, I'm going to call it barely. 64 00:03:07,440 --> 00:03:09,480 Speaker 2: You improved dramatically. 65 00:03:08,840 --> 00:03:12,680 Speaker 3: In twenty twenty two with fifty seven percent of the vote. 66 00:03:13,120 --> 00:03:16,760 Speaker 3: What do you say, really, the polarity of the nation 67 00:03:17,000 --> 00:03:18,920 Speaker 3: on right and left. But what do you say to 68 00:03:18,960 --> 00:03:23,679 Speaker 3: the Democratic Party is they addressed from a left liberal 69 00:03:23,760 --> 00:03:29,080 Speaker 3: point the reality of a centrist Lamont and others as well. 70 00:03:29,200 --> 00:03:31,799 Speaker 1: A centrist Lamont probably is going to disagree with the 71 00:03:31,800 --> 00:03:35,000 Speaker 1: Trump administration on a majority of things. But start with 72 00:03:35,120 --> 00:03:37,480 Speaker 1: areas where we can find some agreement, where we can 73 00:03:37,520 --> 00:03:40,280 Speaker 1: work together. For me, that starts with energy. The high 74 00:03:40,280 --> 00:03:43,720 Speaker 1: price of electricity. You know, the possibility that we could 75 00:03:43,720 --> 00:03:46,800 Speaker 1: bring in natural gas or expand nuclear in our region 76 00:03:47,080 --> 00:03:50,120 Speaker 1: would be transformative. A place where I've been meeting with 77 00:03:50,160 --> 00:03:52,200 Speaker 1: the Secretary is down to Washington. Something we can get 78 00:03:52,240 --> 00:03:52,760 Speaker 1: done together. 79 00:03:53,120 --> 00:03:54,160 Speaker 3: Well, let me let me you know, we're at a 80 00:03:54,200 --> 00:03:56,400 Speaker 3: piece of chalk on our hand at Harvard years ago, 81 00:03:56,520 --> 00:03:59,760 Speaker 3: Nev Lamont. Did the Republicans win the election, Tod Trump 82 00:03:59,800 --> 00:04:03,200 Speaker 3: win or did the Democrats lose the election because they 83 00:04:03,200 --> 00:04:04,600 Speaker 3: were too far left? 84 00:04:05,560 --> 00:04:07,920 Speaker 1: I think Trump won. He won because it was a 85 00:04:08,000 --> 00:04:11,720 Speaker 1: change election. I look around the world, nobody wanted more 86 00:04:11,760 --> 00:04:13,960 Speaker 1: of the same, and I think a little bit Kamala 87 00:04:14,040 --> 00:04:18,000 Speaker 1: got stuck with the Biden legacy, couldn't differentiate herself from there. 88 00:04:18,360 --> 00:04:21,880 Speaker 1: And believe me, Donald Trump represented change. 89 00:04:22,320 --> 00:04:24,200 Speaker 4: When you think about the Democratic Party today, a lot 90 00:04:24,240 --> 00:04:28,120 Speaker 4: of folks are saying, where's the leadership? Because it seems 91 00:04:28,120 --> 00:04:31,320 Speaker 4: like President Trump and his administration taking all the oxygen 92 00:04:31,360 --> 00:04:34,799 Speaker 4: out of the room. Where is the democratic response, Where's 93 00:04:34,800 --> 00:04:37,760 Speaker 4: the democratic policy? Where's the democratic leadership? 94 00:04:37,880 --> 00:04:40,240 Speaker 1: Who do you think is the leader? Does a democratic 95 00:04:40,240 --> 00:04:42,080 Speaker 1: party have a leader these days? Well, when we're not 96 00:04:42,160 --> 00:04:44,440 Speaker 1: in power, you tend to have a lot of different leaders. 97 00:04:44,520 --> 00:04:47,520 Speaker 1: I'd start with the governors. The governors are not making 98 00:04:47,640 --> 00:04:50,080 Speaker 1: everything a battle about Donald Trump. But when it comes 99 00:04:50,080 --> 00:04:52,400 Speaker 1: to medicaid, we're going to hit hard. We're going to 100 00:04:52,480 --> 00:04:57,120 Speaker 1: work with Republican governors to say, you know, unensuring these 101 00:04:57,320 --> 00:04:59,800 Speaker 1: poor people is just going to drive a wedgend or 102 00:05:00,040 --> 00:05:03,839 Speaker 1: hospitals as well, make a difference, find areas of specific 103 00:05:04,320 --> 00:05:07,279 Speaker 1: interest and focus on that, you know, rather than just 104 00:05:07,360 --> 00:05:08,520 Speaker 1: make everything about Trump. 105 00:05:09,600 --> 00:05:13,280 Speaker 4: Congestion pricing. We've got a congestion pricing corresponding right here 106 00:05:14,040 --> 00:05:15,040 Speaker 4: is trying. 107 00:05:14,800 --> 00:05:15,600 Speaker 1: To get me in trouble. 108 00:05:15,720 --> 00:05:20,080 Speaker 4: Yes, New Jersey has a particular view of congestion pricing 109 00:05:20,120 --> 00:05:22,000 Speaker 4: against it. How does the folks in Connecticut. 110 00:05:22,080 --> 00:05:23,880 Speaker 1: I just think you have to pay your bills, and 111 00:05:24,200 --> 00:05:26,080 Speaker 1: New York City's got to pay their bills. You've got 112 00:05:26,080 --> 00:05:30,039 Speaker 1: a pretty anniquated subway system. Does anybody have a better 113 00:05:30,120 --> 00:05:33,000 Speaker 1: idea of how to pay for things? It's so easy 114 00:05:33,040 --> 00:05:34,640 Speaker 1: to say no, and right now there are a lot 115 00:05:34,720 --> 00:05:36,800 Speaker 1: of people say no. So I'm a little sympathetic that 116 00:05:36,880 --> 00:05:37,640 Speaker 1: Kat the ohlklown. 117 00:05:38,000 --> 00:05:43,640 Speaker 3: You represent an advantaged America with the heritage of JP 118 00:05:43,800 --> 00:05:45,599 Speaker 3: Morgan and all that you've. 119 00:05:45,440 --> 00:05:46,400 Speaker 2: Done in your life. 120 00:05:46,839 --> 00:05:51,039 Speaker 3: How does America find the center again? We are whatever 121 00:05:51,080 --> 00:05:54,560 Speaker 3: anybody's politics on this show, we can all admit it's 122 00:05:54,600 --> 00:05:56,400 Speaker 3: a fractured America. 123 00:05:56,839 --> 00:05:58,280 Speaker 2: How do we find the center? 124 00:05:58,760 --> 00:06:01,360 Speaker 3: Back to your family and he's key four years ago 125 00:06:01,720 --> 00:06:03,679 Speaker 3: and others, how do we get back to the center? 126 00:06:03,720 --> 00:06:05,760 Speaker 2: Governor Lamont, I. 127 00:06:05,680 --> 00:06:09,080 Speaker 1: Think we found in Connecticut Republicans and Democrats find places 128 00:06:09,120 --> 00:06:12,919 Speaker 1: we can agree. Let's say we did the biggest tax 129 00:06:12,960 --> 00:06:16,240 Speaker 1: cut ever last year, but it was middle class people 130 00:06:16,360 --> 00:06:19,120 Speaker 1: and beyond it was not for rich people. That was 131 00:06:19,160 --> 00:06:21,880 Speaker 1: an area where Republicans and Democrats could get together a 132 00:06:21,920 --> 00:06:25,880 Speaker 1: five hundred million dollars tax cut. What we're doing in 133 00:06:25,960 --> 00:06:28,800 Speaker 1: terms of making sure that we educate people for the 134 00:06:28,880 --> 00:06:31,400 Speaker 1: jobs that are out there right now, there's a disconnect. 135 00:06:31,680 --> 00:06:35,479 Speaker 1: I'm finding pretty good balance between Republicans and Democrats there. Look, 136 00:06:35,480 --> 00:06:37,640 Speaker 1: there's a certain incentive to say no, that's what the 137 00:06:37,720 --> 00:06:40,400 Speaker 1: nature of the opposition party is. I don't think that's 138 00:06:40,440 --> 00:06:42,640 Speaker 1: good for Democrats at the national level, and I don't 139 00:06:42,640 --> 00:06:45,159 Speaker 1: think that's good for Republicans at our state level. 140 00:06:46,400 --> 00:06:48,760 Speaker 4: Foreign policy, it's another area that is front and center 141 00:06:48,800 --> 00:06:52,080 Speaker 4: for better or worse for the United States, both in 142 00:06:52,120 --> 00:06:54,719 Speaker 4: the Middle East and in the Ukraine. Just start with Ukraine. 143 00:06:54,760 --> 00:06:58,240 Speaker 4: There seems to be I guess, a willingness to find 144 00:06:58,320 --> 00:07:01,599 Speaker 4: some solution over there, and that's question how you get there? 145 00:07:01,640 --> 00:07:04,640 Speaker 4: And President Trump has a certain focus here. How would 146 00:07:04,680 --> 00:07:08,039 Speaker 4: you approach what's happening in Ukraine trying to find some 147 00:07:08,120 --> 00:07:09,200 Speaker 4: type of piece there. 148 00:07:09,320 --> 00:07:11,720 Speaker 1: Not the way Donald Trump is doing it. Look, he 149 00:07:11,800 --> 00:07:13,560 Speaker 1: wrote the Art of the Deal. You go in, you 150 00:07:13,640 --> 00:07:17,280 Speaker 1: negotiate from a position to strength. Instead, Pete Hesa just 151 00:07:17,360 --> 00:07:20,480 Speaker 1: pulled the rug out from under Zelenski put in place 152 00:07:20,520 --> 00:07:22,680 Speaker 1: a whole list of concessions, a sense that we're not 153 00:07:22,680 --> 00:07:24,760 Speaker 1: going to be there to back them. I think that's 154 00:07:24,760 --> 00:07:26,960 Speaker 1: a terrible way to do it. And our allies around 155 00:07:27,000 --> 00:07:29,600 Speaker 1: the world are watching how we treat Ukrain. I heard 156 00:07:29,600 --> 00:07:31,560 Speaker 1: that when I was in India as well. I'm glad 157 00:07:31,600 --> 00:07:34,120 Speaker 1: they're sitting down I think they're negotiating. I think that's 158 00:07:34,200 --> 00:07:37,480 Speaker 1: long overdue, but negotiate from a position of strength. 159 00:07:37,960 --> 00:07:40,480 Speaker 3: Well, I look, Governor Laban at Connecticut, and I think 160 00:07:40,520 --> 00:07:42,920 Speaker 3: there's so many stereotypes out there, and folks, you can 161 00:07:42,960 --> 00:07:45,560 Speaker 3: come up with your own stereotype. It probably starts with 162 00:07:45,560 --> 00:07:48,520 Speaker 3: a Hinkley picnic voter at Graham Banks. Yeah, but the 163 00:07:49,160 --> 00:07:54,480 Speaker 3: reality is Connecticut's got an incredible polarity, including sixteen seventeen 164 00:07:55,080 --> 00:07:59,800 Speaker 3: percent foreign born migrants. You know, whatever those numbers are. 165 00:08:00,000 --> 00:08:02,640 Speaker 3: The last time we talked, you said you're managing it. 166 00:08:02,640 --> 00:08:04,720 Speaker 3: It's not the crisis of New York State and what 167 00:08:04,840 --> 00:08:07,920 Speaker 3: Mayor Adams is facing. But give us an update, and 168 00:08:07,960 --> 00:08:12,040 Speaker 3: our Connecticut is tackling this polarizing issue. 169 00:08:13,600 --> 00:08:17,640 Speaker 1: Connecticut is a diverse state. We represent the diversity of 170 00:08:17,680 --> 00:08:20,360 Speaker 1: the United States of America. When I go to India, 171 00:08:20,880 --> 00:08:23,440 Speaker 1: I have to say, Look, the stereotype of Connecticut is 172 00:08:23,440 --> 00:08:26,280 Speaker 1: a bunch of Fairfield County guys in these boats you're 173 00:08:26,320 --> 00:08:30,080 Speaker 1: talking about. Is not the reality. Our biggest percentage of 174 00:08:30,080 --> 00:08:34,280 Speaker 1: international students are Indian born students, and that we welcome that. 175 00:08:34,400 --> 00:08:36,840 Speaker 1: I think that's a great strength for our state, and 176 00:08:36,880 --> 00:08:38,480 Speaker 1: I think it is a great strength for our country, 177 00:08:38,480 --> 00:08:39,760 Speaker 1: and I think we're getting away from that. 178 00:08:40,800 --> 00:08:43,200 Speaker 4: You come from business, you have a business background. President 179 00:08:43,240 --> 00:08:47,360 Speaker 4: Trump today is addressing the business roundtable. What do you 180 00:08:47,360 --> 00:08:49,520 Speaker 4: think the message should be from Trump to the business 181 00:08:49,600 --> 00:08:52,360 Speaker 4: leaders and from the business leaders to President Trump. 182 00:08:53,240 --> 00:08:55,960 Speaker 1: I think from the business leaders to President Trump, you're 183 00:08:56,000 --> 00:09:00,000 Speaker 1: seeing the incredible anxiety and uncertainty reflected in a collapse 184 00:09:00,200 --> 00:09:04,839 Speaker 1: stock market and a rising unemployment rates. Look, I agree 185 00:09:04,880 --> 00:09:07,000 Speaker 1: with you in terms of wanting to do big things, 186 00:09:07,000 --> 00:09:09,520 Speaker 1: but you don't have to do them overnight with a chainsaw. 187 00:09:09,880 --> 00:09:11,679 Speaker 1: Give us a direction of where you want to go, 188 00:09:11,720 --> 00:09:14,679 Speaker 1: and we can invest accordingly. I hope the President listens 189 00:09:14,720 --> 00:09:15,000 Speaker 1: to that. 190 00:09:15,120 --> 00:09:18,240 Speaker 3: I'm fascinated with a Supreme Court decision the other day 191 00:09:18,880 --> 00:09:20,520 Speaker 3: with Amy Cony Barritt going over. 192 00:09:21,160 --> 00:09:23,040 Speaker 2: There seems to be a primal. 193 00:09:22,720 --> 00:09:29,120 Speaker 3: Scream of the judiciary solving legislative problems. You're part of 194 00:09:29,160 --> 00:09:32,080 Speaker 3: that as an executive in Connecticut, but also almost like 195 00:09:32,120 --> 00:09:33,720 Speaker 3: a legislature to Washington. 196 00:09:34,240 --> 00:09:34,400 Speaker 2: Is a. 197 00:09:35,880 --> 00:09:39,840 Speaker 3: Governor is a legislature just giving up the ghost in Washington? 198 00:09:40,400 --> 00:09:43,960 Speaker 3: I mean, does Congress even part of the debate anymore? 199 00:09:46,559 --> 00:09:51,480 Speaker 1: I'm sort of glad to see the judiciary standing up 200 00:09:51,559 --> 00:09:55,320 Speaker 1: to some of the intrusions from the Trump administration. You 201 00:09:55,320 --> 00:09:59,000 Speaker 1: know that said they haven't passed a darn thing down 202 00:09:59,040 --> 00:10:00,760 Speaker 1: in Congress. In the life too. 203 00:10:00,640 --> 00:10:01,480 Speaker 2: Exactly, that's. 204 00:10:03,520 --> 00:10:05,920 Speaker 1: Maybe the judiciary is stepping in there. But I think 205 00:10:05,960 --> 00:10:09,079 Speaker 1: the judiciary right now is the guardrails protecting our democracy. 206 00:10:09,160 --> 00:10:11,040 Speaker 3: One of the great themes here and it's the theme 207 00:10:11,120 --> 00:10:15,040 Speaker 3: of your life, is we've expanded our federal mandate away 208 00:10:15,080 --> 00:10:19,400 Speaker 3: from states like a Connecticut. I mean, there's a swing 209 00:10:19,440 --> 00:10:21,800 Speaker 3: back here where we've said enough on a titlements. 210 00:10:22,160 --> 00:10:23,719 Speaker 2: When you see. 211 00:10:23,480 --> 00:10:26,439 Speaker 3: The policy from your advisors, we're going to pull back 212 00:10:26,480 --> 00:10:29,480 Speaker 3: from agriculture, We're going to pull back from Congress. We're 213 00:10:29,480 --> 00:10:31,800 Speaker 3: going to pull back FAA and all the rest of 214 00:10:31,960 --> 00:10:35,440 Speaker 3: the DOSE stuff and all the rest. It's a primal 215 00:10:35,559 --> 00:10:38,120 Speaker 3: scream of a smaller Washington. 216 00:10:38,559 --> 00:10:41,320 Speaker 2: Is that feasible right now? 217 00:10:41,320 --> 00:10:43,920 Speaker 1: It's popular because it sounds like Dose is getting rid 218 00:10:43,960 --> 00:10:46,280 Speaker 1: of a bunch of bureaucrats or you know, just leaning 219 00:10:46,320 --> 00:10:49,559 Speaker 1: on their shovels. But every day in our state level, 220 00:10:49,640 --> 00:10:52,480 Speaker 1: you're seeing how it's hitting people, starting with healthcare. I 221 00:10:52,520 --> 00:10:54,720 Speaker 1: think that pushback is going to get louder and louder, 222 00:10:55,040 --> 00:10:56,240 Speaker 1: and den Lebama. 223 00:10:55,840 --> 00:10:58,319 Speaker 3: With US the governor of Connecticut. We continue our conversation. 224 00:10:58,400 --> 00:11:01,600 Speaker 3: We welcome all of you. Governor Lamon's people came in, 225 00:11:01,640 --> 00:11:04,000 Speaker 3: they said, Tom, please do data checks here. We understand 226 00:11:04,320 --> 00:11:08,520 Speaker 3: the market's blown up. Futures up twenty five now negative three. Again, 227 00:11:08,559 --> 00:11:11,680 Speaker 3: the VIS comes out over twenty eight. That's a key statistic, 228 00:11:12,000 --> 00:11:16,040 Speaker 3: twenty eight point zero five on the VIS yields we're lower, 229 00:11:16,160 --> 00:11:19,760 Speaker 3: they're now higher. There's some real correlated churn to the 230 00:11:19,800 --> 00:11:23,480 Speaker 3: tape right now. Oil sixty six eighty seven a barrel. 231 00:11:23,600 --> 00:11:27,960 Speaker 3: The dollar weaker this morning, yen churning. I'm gonna call 232 00:11:27,960 --> 00:11:30,440 Speaker 3: it the euro well over a one oh nine, showing 233 00:11:30,480 --> 00:11:34,560 Speaker 3: some of the currency dynamics. Paul with a governor of Connecticut. 234 00:11:34,720 --> 00:11:37,040 Speaker 4: Governor, you and the state of Connecticut, as you mentioned, 235 00:11:37,040 --> 00:11:40,600 Speaker 4: have been able to balance your budget. We're coming up 236 00:11:40,600 --> 00:11:43,920 Speaker 4: to some budget discussions then in Washington, DC. What is 237 00:11:43,960 --> 00:11:48,559 Speaker 4: your advice to folks in Congress about these upcoming negotiations 238 00:11:48,600 --> 00:11:51,240 Speaker 4: and trying to balance the budget and trying to push 239 00:11:51,360 --> 00:11:53,240 Speaker 4: that part of the policy through. 240 00:11:54,000 --> 00:11:57,040 Speaker 1: Governors are so frustrated with Washington. We all have to 241 00:11:57,080 --> 00:12:00,360 Speaker 1: balance our budget down in Washington, and it's an afterthoughtstand 242 00:12:00,400 --> 00:12:04,199 Speaker 1: that deficits are not politically that charged an issue, But 243 00:12:04,240 --> 00:12:06,240 Speaker 1: you got to do the right thing. You don't have 244 00:12:06,280 --> 00:12:08,880 Speaker 1: to solve it overnight, but you've got to directionally start 245 00:12:08,920 --> 00:12:12,000 Speaker 1: showing that you're getting your budget under control. I don't 246 00:12:12,000 --> 00:12:13,400 Speaker 1: see that happening in Washington. 247 00:12:13,480 --> 00:12:17,120 Speaker 4: Are you surprised there's not more political pressure to do that? 248 00:12:17,160 --> 00:12:21,280 Speaker 4: Because I think the message I've taken is that unless 249 00:12:21,800 --> 00:12:25,920 Speaker 4: people force Washington to do that, either to lower expenses, 250 00:12:26,160 --> 00:12:29,559 Speaker 4: raise revenue, whatever they have to do. Unless there's political pressure, 251 00:12:29,800 --> 00:12:31,680 Speaker 4: there's no really no incentive to do anything. 252 00:12:32,960 --> 00:12:35,400 Speaker 1: Look here at Bloomberg, we care about that deeply. We 253 00:12:35,440 --> 00:12:37,839 Speaker 1: know if you don't have an honestly balanced budget, a 254 00:12:37,920 --> 00:12:40,800 Speaker 1: bad things happen in the future. I've paid down our 255 00:12:40,840 --> 00:12:44,839 Speaker 1: debt by over ten billion dollars. People don't care that much. 256 00:12:45,280 --> 00:12:47,480 Speaker 1: You know, they have real needs every day. How can 257 00:12:47,520 --> 00:12:48,600 Speaker 1: you not taken care of that? 258 00:12:49,880 --> 00:12:51,839 Speaker 4: So how do you think about that? I mean, is 259 00:12:51,880 --> 00:12:54,840 Speaker 4: this the How do you think if you were to 260 00:12:54,840 --> 00:12:58,200 Speaker 4: balance the US budget? Where would you go expenses, revenue both? 261 00:12:58,520 --> 00:12:59,560 Speaker 4: How would you think about it? 262 00:12:59,720 --> 00:13:02,200 Speaker 1: Don't I think I'd have the biggest tax cut in 263 00:13:02,320 --> 00:13:05,040 Speaker 1: history for the wealthiest folks. I think that sends the 264 00:13:05,120 --> 00:13:07,800 Speaker 1: wrong signal. It takes us in the wrong direction. I 265 00:13:07,800 --> 00:13:11,160 Speaker 1: think I would be going after efficiency, not the way 266 00:13:11,200 --> 00:13:13,600 Speaker 1: Doze is doing, but in a serious way. And you 267 00:13:13,640 --> 00:13:15,000 Speaker 1: can't disregard entitlements. 268 00:13:15,080 --> 00:13:17,600 Speaker 2: I got two questions left. They're both really really important. 269 00:13:17,720 --> 00:13:20,439 Speaker 3: One with immense respect to your family, the heritage of 270 00:13:20,440 --> 00:13:21,760 Speaker 3: the Lamont family. 271 00:13:21,800 --> 00:13:24,800 Speaker 2: On all of Wall Street. Is this a new gilded age? 272 00:13:24,880 --> 00:13:29,040 Speaker 3: Have we skewed things so far over to billionaire mania 273 00:13:29,240 --> 00:13:32,679 Speaker 3: that we're really reliving? I mean, Trump has this fixation 274 00:13:32,840 --> 00:13:37,360 Speaker 3: over McKinley and tariffs. Are we reliving McKinley as a society. 275 00:13:38,120 --> 00:13:40,160 Speaker 1: I think we are a little bit. I think inflating 276 00:13:40,160 --> 00:13:43,280 Speaker 1: the money supply and all the deficits have made the 277 00:13:43,400 --> 00:13:46,240 Speaker 1: rich a lot richer, probably the richest they've been since 278 00:13:46,320 --> 00:13:47,360 Speaker 1: nineteen twenty nine. 279 00:13:48,160 --> 00:13:50,000 Speaker 2: I got one final question. It's credit. 280 00:13:50,160 --> 00:13:53,800 Speaker 3: Paul emails in and says it's just simple. Finally Big 281 00:13:53,800 --> 00:13:57,240 Speaker 3: East basketball is back. I mean, I'm looking at Yukon 282 00:13:57,400 --> 00:13:58,160 Speaker 3: Saint John's. 283 00:13:58,640 --> 00:13:59,920 Speaker 2: This could be a bit that is going to. 284 00:13:59,920 --> 00:14:03,120 Speaker 1: Be a great Big East game. You got Yukon is 285 00:14:03,160 --> 00:14:05,400 Speaker 1: playing better and better than men when the women are 286 00:14:05,480 --> 00:14:05,960 Speaker 1: top flight. 287 00:14:06,080 --> 00:14:09,280 Speaker 3: Women are top flight, but in men's basketball, Yukon's won 288 00:14:09,320 --> 00:14:09,960 Speaker 3: four in a row. 289 00:14:10,080 --> 00:14:12,280 Speaker 2: Are they saving it for Saint John's here? 290 00:14:12,960 --> 00:14:15,360 Speaker 1: Hey, look we're two time national champions. Yeah, we know 291 00:14:15,400 --> 00:14:15,880 Speaker 1: what we're doing. 292 00:14:16,040 --> 00:14:18,000 Speaker 2: Okay, John Tucker, would you like to do this? His 293 00:14:18,040 --> 00:14:21,040 Speaker 2: own congestions you to know this is more important. Do 294 00:14:21,040 --> 00:14:22,600 Speaker 2: you know why they call it a nutmeg state? 295 00:14:22,880 --> 00:14:25,320 Speaker 1: No, it's based on a scam they used to the 296 00:14:25,400 --> 00:14:30,600 Speaker 1: Yankee peddlers used to sell fake nutmeg to unsuspecting travelers 297 00:14:30,600 --> 00:14:33,640 Speaker 1: in Connecticut. That right, I rephrase that a little bit. 298 00:14:33,720 --> 00:14:37,280 Speaker 1: We're a great trading state. We take advantage of our advantages. 299 00:14:38,680 --> 00:14:43,840 Speaker 3: Final question, I noticed, finally, after finally, after four hundred years, 300 00:14:44,240 --> 00:14:48,640 Speaker 3: we get new Amtrak trains. Everybody blames Connecticut for the 301 00:14:48,640 --> 00:14:49,480 Speaker 3: worst wires. 302 00:14:49,840 --> 00:14:52,120 Speaker 2: We fixed it. You know, forget about the tunnels. We 303 00:14:52,200 --> 00:14:53,640 Speaker 2: fixed it in New York to Washington. 304 00:14:53,920 --> 00:14:57,840 Speaker 3: Give us an update on your unspeakable relationship with Amtrak 305 00:14:58,200 --> 00:15:00,560 Speaker 3: to give us better, cheaper train service. 306 00:15:01,080 --> 00:15:03,800 Speaker 1: I will tell you we're gonna be able to speed 307 00:15:03,880 --> 00:15:06,760 Speaker 1: up a track dramatically over the next five years. We 308 00:15:06,840 --> 00:15:10,520 Speaker 1: got significant resources from the Biden administration. We are a 309 00:15:10,600 --> 00:15:12,640 Speaker 1: choke point. We got a lot of little towns, a 310 00:15:12,640 --> 00:15:14,880 Speaker 1: lot of stops along the way, a lot of twist 311 00:15:14,960 --> 00:15:18,040 Speaker 1: and turns around. Missus o'gillicutti's home. We're going to speed 312 00:15:18,080 --> 00:15:18,360 Speaker 1: that up. 313 00:15:18,480 --> 00:15:20,560 Speaker 2: Is the President going to cut your submarine effort? 314 00:15:21,280 --> 00:15:24,040 Speaker 1: I don't think so. It's the strategic piece of our triad. 315 00:15:24,080 --> 00:15:26,040 Speaker 1: They're still undecipherable, folks. 316 00:15:26,040 --> 00:15:27,080 Speaker 2: For those that don't know it. 317 00:15:27,160 --> 00:15:29,400 Speaker 3: You take the train up and you're there and there's 318 00:15:29,480 --> 00:15:32,000 Speaker 3: like a submarine over in a window. Explain to people 319 00:15:32,040 --> 00:15:35,880 Speaker 3: what's going on. It's your submarine base in Connecticut. It's 320 00:15:35,960 --> 00:15:38,680 Speaker 3: top top, top secret. They don't even know if they 321 00:15:38,760 --> 00:15:42,080 Speaker 3: leave or go because they leave underwater. But explain the 322 00:15:42,120 --> 00:15:44,960 Speaker 3: commitment of Connecticut to our United States Navy. 323 00:15:45,280 --> 00:15:48,600 Speaker 1: Yeah, electric boat part of General Dynamics, makes most of 324 00:15:48,640 --> 00:15:52,560 Speaker 1: our submarines here and down in Virginia. It's the last 325 00:15:52,560 --> 00:15:55,640 Speaker 1: piece of our triad that is still undetectable. So it's 326 00:15:55,760 --> 00:15:59,040 Speaker 1: really important in terms of our strategic deterrence. If you 327 00:15:59,080 --> 00:16:01,600 Speaker 1: think the Soviets are coming in from the North Sea, 328 00:16:02,040 --> 00:16:03,960 Speaker 1: you know they're going to come right by New England. 329 00:16:04,000 --> 00:16:05,960 Speaker 1: It's very important what we got there in the Groton, 330 00:16:05,960 --> 00:16:06,880 Speaker 1: New London areas. 331 00:16:07,240 --> 00:16:10,240 Speaker 3: Governor, thank you for joining Bloomberg today, Grant, I appreciate 332 00:16:10,280 --> 00:16:13,680 Speaker 3: it I'm still a mount of the state of Connecticut.