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Speaker 1: And it's Bloomberg Sound On the Insiders, the influencers, the insides.

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Speaker 1: Biden has comments again and again he will unite the country.

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Speaker 1: Who do you think Biden has to watch in terms

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Speaker 1: of moderate defectors? For the doctor has always been by

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Speaker 1: part of Zloomberg Sound On on Bloomberg Radio, we are

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Speaker 1: anxiously awaiting President Biden's first joint addressed to Congress, which

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Speaker 1: begins in just a few hours, and joining me to

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Speaker 1: break it all down and give us a sneak peak

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Speaker 1: Bloomberg political contributor Rick Davis and Matt Bennett a third way,

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Speaker 1: Plus we're gonna check in with Congresswoman Marrionette Miller Meeks,

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Speaker 1: who's going to be in the room. And as we

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Speaker 1: all await the presidents first joined us dressed to Congress,

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Speaker 1: we are really lucky to be joined on the panel

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Speaker 1: by someone who has scored a ticket to the hottest

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Speaker 1: really what's going on in town, and that is Congresswoman

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Speaker 1: Marionette Miller Meeks, a Republican from Iowa who represents the

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Speaker 1: second aggressional district. So, Congresswoman, it is a great joy

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Speaker 1: to talk to you tonight. I'm sure you are very

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Speaker 1: busy so thank you for joining us. It's my pleasure, Jennie,

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Speaker 1: thank you so much for having me. So what are you,

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Speaker 1: as a Republican going to be listening for? What do

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Speaker 1: you hope to hear tonight from President Biden's first address? Well, first,

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Speaker 1: I would agree with you that in the in the pandemic,

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Speaker 1: in the realm of COVID nineteen, it's a real honor

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Speaker 1: to be invited, uh to listen to the presidential address

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Speaker 1: in the chambers. Uh, it will be a much smaller

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Speaker 1: group of individuals, as you know, and so, um, it's

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Speaker 1: an honor to be invited. And I'm hoping to hear

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Speaker 1: on what President Biden has plans for the future. UM.

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Speaker 1: I would uh uh like to hear more about how

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Speaker 1: he intends to work in a bipartisan fashion to get

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Speaker 1: input from Republicans. Um, and then how he intends to

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Speaker 1: unite and bring the country forward. I think those are

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Speaker 1: things that we're all interested in. We're interested in transparency

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Speaker 1: and accountability in our government, uh, and how the president

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Speaker 1: attends to address that in his various priorities. And Congressman,

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Speaker 1: you just raised the issue of bipartisanship, and this is

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Speaker 1: something that some Republicans have accused Joe Biden of running,

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Speaker 1: you know, as a a somebody who's going to reach

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Speaker 1: across the aisle and then not acting like that during

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Speaker 1: his first one hundred days in office. From your perspective,

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Speaker 1: has President Biden been reaching across the aisle? Has he

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Speaker 1: been acting in a bipartisan way? Well, it's difficult for

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Speaker 1: me to say. I think if he's approached uh, you know,

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Speaker 1: members of Congress and members of the Democratic Party, we

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Speaker 1: haven't seen that filter down to all the members of Congress.

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Speaker 1: So we haven't seen that level of bipartisanship that we

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Speaker 1: would like to have. UM. Certainly when you have bills,

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Speaker 1: especially the large spending bills that we're seeing, UH, and

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Speaker 1: you don't go through the regular committee process, you don't

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Speaker 1: invite uh members of the minority party to the table

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Speaker 1: to have discussions or get viewpoints, or even include very

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Speaker 1: simple amendments into the bills that are putting forward. Uh,

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Speaker 1: it's very difficult for me to say that. Uh. You know,

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Speaker 1: bi partisanship is there. I was a state senator in Iowa,

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Speaker 1: and I worked very hard as a committee chair to

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Speaker 1: incorporate the bills and ideas of the minority members and

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Speaker 1: actually brought several of their ideas and builds into paristion

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Speaker 1: that got signed into law in Iowa. And so I

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Speaker 1: don't see that same overture being made here in Washington,

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Speaker 1: d C. Well, Congresswoman, I want to follow up with

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Speaker 1: you on that, because you know, this is a pretty

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Speaker 1: significant moment in time. We've seen already the Biden administration

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Speaker 1: passed at one point nine trillion dollar American Rescue Plan,

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Speaker 1: arguably to address the urgent need of coronavirus, which you know, okay,

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Speaker 1: we got that, but then following shortly within the first

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Speaker 1: hundred days, the American Jobs Plan too and a half trillion,

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Speaker 1: or just thunder American Family Plan one point five trillion.

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Speaker 1: I mean, we start racking up these uh legislative initiatives

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Speaker 1: in the significant trillions, and and and really really stern

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Speaker 1: ways of paying for it, high marginal rates, higher capital

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Speaker 1: gains rates, eighty billion dollars for the I R s

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Speaker 1: to go after people. I mean, do you do you

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Speaker 1: think that there's a bit of an overreach here? And

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Speaker 1: what we're gonna hear tonight is, hey, I'm going straight

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Speaker 1: to the American public to pass all this stuff. But

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Speaker 1: like he's sending you a message to as a member

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Speaker 1: of Congress, isn't he Well, he did send us a

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Speaker 1: message as members of Congress. And to be fair, let

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Speaker 1: me say that both parties I have, uh you know,

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Speaker 1: have past legislation, have pass bills that have increased spending.

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Speaker 1: And I certainly understand people that say, well, you're in

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Speaker 1: the minority party now, so you're only concerned about spending

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Speaker 1: because you're in the minority party. But when you think

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Speaker 1: about what you just listed, we're looking at six to

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Speaker 1: seven trillion dollars in four months in office, which is outstanding. UM.

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Speaker 1: And I realized people think that inflation is not going

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Speaker 1: to increase, and that UM, those taxes that are going

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Speaker 1: to be levied in order to pay for some of

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Speaker 1: this are not going to go down to hard working

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Speaker 1: American tax payers. But we can be assured that hard

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Speaker 1: working American taxpayers will be paying the bill, UH, that

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Speaker 1: workers wages will be reduced, that there will be hundreds

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Speaker 1: of thousands of jobs that may be eliminated, that this

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Speaker 1: will have a huge impact on small businesses as well

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Speaker 1: as large businesses, UM. And so working class families are

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Speaker 1: going to pay the brunt of this. UM. I saw

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Speaker 1: that growing up, and I continue to see that now.

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Speaker 1: My concern is during a pandemic, UM, when you have

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Speaker 1: small businesses, and I've worked with those small businesses. I

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Speaker 1: worked with them as a state senator, helping them to

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Speaker 1: get p p p UH, trying to UM motivate people

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Speaker 1: to to go and visit them, order food, take out,

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Speaker 1: whatever we could do to make sure that these small

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Speaker 1: businesses survived through the pandemic. UH that uh, this is

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Speaker 1: another hurdle that they have to face. So I think

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Speaker 1: we have to be very concerned about this. UM. We've

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Speaker 1: already seen inflation uptick UM, and you can see that

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Speaker 1: in gas prices. UH. In the very short time in office,

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Speaker 1: gas prices are up anywhere from sixty cents to almost

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Speaker 1: a dollar in certain areas of the country. UM. We

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Speaker 1: will see electricity prices go up as well. And then

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Speaker 1: do these policies emboldened people who have very poor environmental

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Speaker 1: records and very poor records on label labors, such as

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Speaker 1: the Chinese Communist Party. So I'm very concerned about that.

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Speaker 1: But at the same point in time, UM, there are

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Speaker 1: parts of the COVID bill that I did support, and

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Speaker 1: that was um UH some extension of unemployment. Uh, the

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Speaker 1: stimulus check that went out especially supported getting vaccines out.

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Speaker 1: And I will applaud um President Biden on continue on

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Speaker 1: the great success of President Trump with Operation Warp Speed

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Speaker 1: UH that got us a vaccine in nine months to

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Speaker 1: then increase that. And we were concerned at a hundred

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Speaker 1: million a day when that was the goal, because we

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Speaker 1: were already at that goal, but President Biden ramped that

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Speaker 1: up and uh, you know, to get the number of

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Speaker 1: Americans vaccinated. I think, um, you know, both both presidents

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Speaker 1: deserve credit for that and I'd like to see that continue.

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Speaker 1: And Congressman, I just want to jump in, but like

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Speaker 1: as a former physician, you want to spend a minute

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Speaker 1: just making sure people understand the importance of getting vaccinated. Um,

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Speaker 1: I would just say, you made my heart beat faster.

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Speaker 1: So I would absolutely love to take a minute and

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Speaker 1: to let people know that COVID nineteen is a serious disease,

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Speaker 1: especially for those that are in the vulnerable group. But

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Speaker 1: even in young people who do not get seriously ill,

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Speaker 1: there are side effects, and the side effects can be

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Speaker 1: long terms, such as a loss of sense of smell,

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Speaker 1: sometimes taste, and fatigue. So even on young people, UM,

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Speaker 1: who are typically the ones that are asymptomatic. There can

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Speaker 1: be long term side effects, So the side effects that

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Speaker 1: you would get from COVID nineteen are much much worse

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Speaker 1: than any side effects that you would get from the

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Speaker 1: COVID nineteen vaccine. And you also have your choice of

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Speaker 1: three vaccines. Uh, there were no corners cut in developing

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Speaker 1: these vaccines. They were done in a safe manner. They're effective, uh,

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Speaker 1: far more effective. Yes, there's variants, but I think that

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Speaker 1: those also are are susceptible to the vaccine, meaning the

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Speaker 1: vaccine also um helps to protect against any variant. But

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Speaker 1: it's critically important, I think for us to get back

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Speaker 1: to normal, for us to stoptware in our masks, get

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Speaker 1: together with our family, whether it's you want to go

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Speaker 1: to a concert or a restaurant or go back to work.

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Speaker 1: We need as many people to be vaccinated as possible.

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Speaker 1: Very well said, and and Congresswoman on that point, have

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Speaker 1: you been frustrated by the fact that President former President

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Speaker 1: Trump hasn't come out and pushed more for vaccinations more publicly?

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Speaker 1: And I know you said you give him a lot

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Speaker 1: of credit for where we are in the vaccinations, but

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Speaker 1: do you wish he would say more to his supporters

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Speaker 1: about this issue. I think that uh, you know, the

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Speaker 1: current administration had a phenomenal opportunity at a press conference

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Speaker 1: when Press Secretary Jensaki was asked if former President Trump

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Speaker 1: or President Trump had deserved any credit for the vaccine

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Speaker 1: and was the answer was no. That was an opportunity

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Speaker 1: for the administration to say yes, and we encourage President

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Speaker 1: Trump to uh to help promote the vaccine that he

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Speaker 1: helped create in a miraculously short period of time. So

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Speaker 1: I would certainly, um, UH would like President Trump to

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Speaker 1: come forward. UM. I will won't say recommend, but I

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Speaker 1: think it certainly would highlight, um, what a remarkable feat

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Speaker 1: it was to get a vaccine in nine short months.

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Speaker 1: And this is UH information systems, changing regulatory processes that

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Speaker 1: we need to uh to keep in our you know,

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Speaker 1: in our bank so that we have them for future pandemic.

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Speaker 1: But uh, sometimes there are regulations that we get rid

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Speaker 1: of during a pandemic that we find our regulations that

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Speaker 1: we should john uh you know, not reinstate once the

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Speaker 1: pandemic is over. And telehealth is one of those. Vaccine

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Speaker 1: development is another. And Congresswoman, it is such a pleasure

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Speaker 1: to talk to you today on this very busy evening.

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Speaker 1: I have to tell you I'm incredibly jealous that you

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Speaker 1: are going to be in the house today, um, but

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Speaker 1: we will be watching you on television as you make

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Speaker 1: your way in. And thank you so much for taking

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Speaker 1: the time to talk with us, and I wish you

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Speaker 1: a very very good State of the Union esque evening.

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Speaker 1: That's Congresswoman Marionette Miller Meeks. She's a Republican from Iowa

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Speaker 1: representing the second Congressional District. And Rick and I are

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Speaker 1: going to be joining David weston this evening at starting

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Speaker 1: at eight thirty. The President's expected to speak around nine PM,

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Speaker 1: but you can hear us on Bloomberg Radio and also

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Speaker 1: Bloomberg Television. I am Jeanie Schanzano, and this is Bloomberg.

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Speaker 1: This is Bloomberg Sound On on Bloomberg Radio. I'm Jeanie

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Speaker 1: Chanzino along with Bloomberg Politics contributor Rick Davis, and we

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Speaker 1: are joined on the panel by Democratic strategist Matt bat Bennett,

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Speaker 1: co founder of The Third Way. And in just a

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Speaker 1: few hours and one day, Shaya is one hundredth day

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Speaker 1: in office. President Biden is going to go to the

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Speaker 1: floor of the House to give his first address to

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Speaker 1: a joint session of Congress. And I have to admit

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Speaker 1: to you, Rick and Matt, this is one of my

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Speaker 1: favorite days of the year, This in Constitution Day. Um.

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Speaker 1: You know, most years, of course it's called the State

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Speaker 1: of the Union, but when the president's newly inaugurated, it's

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Speaker 1: a joint address, presumably because the new president doesn't know

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Speaker 1: enough about the state of the Union yet, although it's

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Speaker 1: hard to believe that when it comes to President Biden,

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Speaker 1: he's spent his entire adult life immersed in Washington, d C.

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Speaker 1: And national politics. And of course, unlike most presidents, this

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Speaker 1: State of the Union or State of the Union esque

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Speaker 1: address has been pushed back because of the pandemic in

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Speaker 1: January six. So what we're expecting to hear it tonight,

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Speaker 1: amongst other things, his new Massive American Families Plan coming

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Speaker 1: in around one point eight trillion dollars and today, speaking

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Speaker 1: to ABC's Powerhouse Politics podcast, White House Press Secretary Jen

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Speaker 1: Saki explained how President Biden seeks to introduce his plan

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Speaker 1: in a way that is accessible for those of us

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Speaker 1: watching from home. We have sound on that he wants

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Speaker 1: to talk about it as the things we can do

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Speaker 1: for you. How can we help you, How can we

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Speaker 1: help you get back to work? How can we help

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Speaker 1: your kids? How can we ensure their industries of the

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Speaker 1: future that your kids can work in and your communities

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Speaker 1: can thrive around, And um, you know that's really his goal.

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Speaker 1: So Matt Bennett, how is he going to do this?

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Speaker 1: How is he going to make this case to an

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Speaker 1: American public for the third massive bill he's put forward? Well, uh,

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Speaker 1: to your point, this is not a State of the

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Speaker 1: Union because he's he's new, but he's done a lot already.

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Speaker 1: He's only been there since January, and in that time

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Speaker 1: he has delivered massively on his promise in rolling out

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Speaker 1: the pandemic response, including obviously the vaccines were two in

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Speaker 1: a million vaccines have been um administered so far, breaking

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Speaker 1: all expectations, and he's also provided emergency relief that everyone

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Speaker 1: desperately needed. Now he needs to turn to what he

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Speaker 1: called during the campaign building back better, which is to say,

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Speaker 1: we don't want to go back to the economy that

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Speaker 1: we had before the pandemic, because too many people were

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Speaker 1: struggling and being left behind. And as Jansaki noted, there

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Speaker 1: is a lot in his proposal, the American Family Act,

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Speaker 1: that would provide relief in very specific ways to people,

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Speaker 1: in ways that they will recognize instantly. That is both

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Speaker 1: good policy and good politics. Man. I get the impression, though,

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Speaker 1: just from the little bit of buzz coming out of

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Speaker 1: the White House related to this speech, that he's really

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Speaker 1: not there to sell to the two hundred or so

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Speaker 1: members of Congress that we're lucky enough to score a

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Speaker 1: invite for tonight since uh, COVID restrictions will be imposed

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Speaker 1: on Congress, but that he's gonna go sort of over

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Speaker 1: their heads right to the American people. And and if

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Speaker 1: there was a so the victory laps COVID right, he's

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Speaker 1: two hundred million vaccines. That's that's impressive in the first

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Speaker 1: one hundred days. How's he going to sell a package

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Speaker 1: that's going to be a little harder to explain when

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Speaker 1: you get into the various effects of all these massive

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Speaker 1: spending programs that he has. I mean, like it's so

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Speaker 1: wide ranging. I mean, the speech could go two hours.

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Speaker 1: Is it your expectation that he's going to find a

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Speaker 1: simple way to convey this message to the American people. Uh,

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Speaker 1: it's my hope, Rick, that he's able to do that.

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Speaker 1: But as you know, with a package this size, to

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Speaker 1: your point, there's a risk that it can just be

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Speaker 1: a list, you know, a laundry list. I'm gonna do

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Speaker 1: A and B and C, and by the time you

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Speaker 1: get to que people have turned tuned out. So my

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Speaker 1: hope is that they've crafted a speech that will resonate

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Speaker 1: broadly by allowing people to kind of get their arms

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Speaker 1: around what he's providing in very specific ways. So I

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Speaker 1: think what he'll do is concentrate on some very very

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Speaker 1: specific pieces of this. So how is he going to

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Speaker 1: make education more affordable? You know, free pre K for

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Speaker 1: all three and four year olds? How is he gonna

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Speaker 1: three two years of community college? That's how he's going

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Speaker 1: to make education more affordable. How is he going to

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Speaker 1: provide economic security? He's gonna provide more support for people

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Speaker 1: who have kids in childcare. I think if he doesn't

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Speaker 1: go too far and make get too much of a

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Speaker 1: laundry list, it will be a each that people can

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Speaker 1: really understand. But the risk with these kinds of speeches

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Speaker 1: is everybody wants their peace in there, and so I'm

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Speaker 1: hoping that they were able to avoid that. And and

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Speaker 1: Rick as somebody You've worked so much in politics and

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Speaker 1: and campaigns and white houses. How difficult is it to

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Speaker 1: make this speech to only this sort of COVID truncated

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Speaker 1: audience that's going to be there. Well, Matt described it

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Speaker 1: very well, and he's had White House experience as well

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Speaker 1: as I have. And we've had to, you know, put

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Speaker 1: our requests in for speeches. Here's what I want the

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Speaker 1: President to talk about. And it's a food fight in

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Speaker 1: the White House over a speech like this. I mean,

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Speaker 1: everyone's got their particular interests. You know. The political people

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Speaker 1: want it done a certain way, the policy people want

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Speaker 1: it done a certain way, the outreach folks want it

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Speaker 1: done a certain way. The congressional people need certain language

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Speaker 1: in there. And it is one of the hardest things

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Speaker 1: to keep small. And so it'll be interesting to see

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Speaker 1: tonight shortly after this what they come up with. That's

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Speaker 1: absolutely write more with Rick Davis and Matt Bennett. I

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Speaker 1: am Genie Schanzano and this is Bloomberg. I'm Jennie Schanzano

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Speaker 1: along with Bloomberg Politics contributor Rick Davis, and we are

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Speaker 1: joined on the panel by democratic strategist Matt Bennett, co

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Speaker 1: founder of Third Way and one of the big questions

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Speaker 1: as we head into Joe Biden's speech tonight is will

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Speaker 1: he reach across the aisle as he promised during his campaign. Earlier,

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Speaker 1: White House Press Secretary Jen Saki said that President Biden

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Speaker 1: will not criticize the Republican Party or any individual Republicans

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Speaker 1: in his speech, and he is going to focus on

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Speaker 1: bipartisan efforts. We have sound on that he's gonna try

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Speaker 1: to lead and try to send a message to Republicans

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Speaker 1: in Congress by by laying up policies he thinks there

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Speaker 1: should be agreement on and to move forward on. But

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Speaker 1: a last and at least Mitch McConnell seems to be

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Speaker 1: having none of it. Before President Biden's speech tonight, Senate

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Speaker 1: Minority Leader Mitch McConnell said he does not think that

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Speaker 1: Joe Biden has given any indication yet in his first

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Speaker 1: one days of being reaching across the aisle, being bipartisan

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Speaker 1: or moderate. We have sound on that. I'm hard pressed

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Speaker 1: to think of anything at all that he's done so

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Speaker 1: far that would indicate some degree of moderation. Rick and

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Speaker 1: matt Um, We're going into this speech a lot of

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Speaker 1: people hoping that Congress can get important things done. We've

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Speaker 1: talked a little bit about the president's infrastructure plans, but

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Speaker 1: we haven't talked a lot about his non economic plans,

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Speaker 1: and one of those I know, uh, Matt, is something

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Speaker 1: that's close to your heart. You are the vice chair

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Speaker 1: of the Sandy Hook Promise, and we've heard already that

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Speaker 1: the President is going to be pushing Congress to pass

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Speaker 1: at least two bills dealing with gun control. What would

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Speaker 1: you like him to talk about tonight and what would

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Speaker 1: you like to see happen going forward? Well, the most

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Speaker 1: certain thing in the gun control or gun safety world

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Speaker 1: is shoring up the holes in the background check system.

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Speaker 1: I've been working on this issue, as Rick knows, for

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Speaker 1: more than twenty years, back when the big problem was

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Speaker 1: gun shows. Those remain a huge problem where you can

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Speaker 1: buy a gun at a gun show without going through

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Speaker 1: a background check. But now there's the Internet, and uh,

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Speaker 1: there are literally hundreds of thousands, perhaps millions of guns

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Speaker 1: for sale in the United States on the Internet by

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Speaker 1: people who are offering them without a background check. So

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Speaker 1: that we have enormous problem and that needs to be fixed.

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Speaker 1: And to your point about bipartisanship, there is a bipartisan

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Speaker 1: solution to this problem there has been for a very

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Speaker 1: long time. John McCain and Joe Lieberman crafted one twenty

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Speaker 1: years ago, and then after the Sandy Hook tragedy, Uh,

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Speaker 1: Senator kat to Me, a conservative Republican, and Joe Mansion,

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Speaker 1: a moderate Democrat, also crafted a solution to this problem

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Speaker 1: that was deeply bipartisan. Both of those guys had a

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Speaker 1: ratings from the n r A. Note none of this

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Speaker 1: would have any impact on law biding gun owners uh.

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Speaker 1: And there's broad support for it. The question is will

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Speaker 1: Republicans in Congress, beyond tattoo Me and maybe a handful

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Speaker 1: of others be willing to get on board. Um, we

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Speaker 1: need ten Republicans to pass anything in a in a

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Speaker 1: filibuster environment, and it's not clear that we can get that. Yeah, Matt,

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Speaker 1: We've come a long way since the early days on

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Speaker 1: gun Show Loophole, where I worked with you and a

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Speaker 1: lot of really other brave politicians to take on the

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Speaker 1: n r A and UH. And yet I think you're right.

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Speaker 1: We had the votes then to pass it if if

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Speaker 1: we were able to get a vote on it and Uh,

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Speaker 1: and it is a bipartisan issue. I think people over

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Speaker 1: tork the notion that somehow this divides the House. There's

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Speaker 1: a lot of politics in it, a lot of constituencies

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Speaker 1: like the n r A, who don't want to see

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Speaker 1: these things happen. But I guess the question I have uh,

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Speaker 1: in approaching Tonight's speech and and and obviously an urgent

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Speaker 1: demand for action in the community at large around these issues,

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Speaker 1: would Joe Biden be better off taking an approach to

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Speaker 1: guns on a more piecemeal basis. I mean, he's gotten

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Speaker 1: pushed back from one of our former allies, Joe Mansion,

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Speaker 1: on this issue because I think there's a bit of

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Speaker 1: an overreach now, and so can can you recover from

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Speaker 1: that and actually get something done this year which is

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Speaker 1: plagued us all in the in the last twenty years.

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Speaker 1: I think you can. As we know, of course, the

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Speaker 1: real action on guns, beyond the few executive actions that

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Speaker 1: Obama took and the Biden's taken, those really are around

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Speaker 1: the edges of the problem. The real action is in Congress.

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Speaker 1: And so it's going to be up to the Senate

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Speaker 1: to people like Schumer and and Mansion and too me

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Speaker 1: and Chris Murphy to try to craft to compromise. And

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Speaker 1: they are hard at work trying to do that, and

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Speaker 1: they are deep lee mindful that they're going to need

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Speaker 1: ten Republicans if they're going to get something done. So

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Speaker 1: I think if they're able to come up with something

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Speaker 1: in the Senate, it will be more limited, to your point,

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Speaker 1: than than what perhaps the Biden team would like to

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Speaker 1: see if they had their way. But they also understand

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Speaker 1: that getting something done, particularly on background checks, would make

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Speaker 1: a huge difference. We haven't had a really significant change

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Speaker 1: to the gun safety laws at the federal level since

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Speaker 1: we're a little past do and it's important for me

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Speaker 1: to say here. Michael Bloomberg, owner of Bloomberg LP, the

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Speaker 1: parent company of Bloomberg News, is a founder of and

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Speaker 1: helps fund every Town for Gun Safety, a nonprofit that

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Speaker 1: advocates for gun violence prevention and other gun safety measures. So,

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Speaker 1: Rick and Matt um, I want to ask you a

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Speaker 1: bit of a bit of trivia. You only can answer

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Speaker 1: with one word, how many executive orders? This comes from

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Speaker 1: Christine Barrata are great producer. How many executive orders has

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Speaker 1: Joe Biden passed in his first one days? Well days, Goreck, Matt,

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Speaker 1: I'm going with that. Two you guys are both wrong no,

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Speaker 1: you're close. It's forty two, and we should say that's right. Yeah,

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Speaker 1: he we should say that that that is Um. He

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Speaker 1: lags behind some of his predecessors in terms of the

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Speaker 1: number of bills, that's eleven that he has signed, but

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Speaker 1: he far outpaces them on executive orders. UM. So thank

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Speaker 1: you to Christine Barrata. I love all these statistics because

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Speaker 1: I'm a numbers geek. And we are going to be

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Speaker 1: joining David Weston. Rick Davis, you and I tonight will

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Speaker 1: be joining David Weston. We're gonna have full coverage of

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Speaker 1: President Biden's addressed tonight that starts at eight thirty pm

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Speaker 1: on Bloomberg Television and Radio. So, Rick, I hope you're

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Speaker 1: ready for what could be a long night, but not

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Speaker 1: too too long. I am Jeanie Schanzano and this is Bloomberg.

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Speaker 1: This is Bloomberg sound On on Bloomberg Radio. Hi am

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Speaker 1: Janie schanze No. Along with Bloomberg's politics contributor Rick Davis,

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Speaker 1: and Democratic strategist and Matt Bennett, co founder of Third Way.

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Speaker 1: And as you know, Rick and Matt, it's a historic

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Speaker 1: night tonight. We have, you know, a speech that has

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Speaker 1: in the modern era, at least coming a lot later

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Speaker 1: than usual. Usually we see these about five weeks five

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Speaker 1: weeks in UH. This year we're seeing Biden jes shy

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Speaker 1: of this one hundred day in office. It's also going

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Speaker 1: to be limited attendance due to COVID protocols. But most importantly,

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Speaker 1: for the first time in u u S history, two

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Speaker 1: women will be seated behind the President of the United

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Speaker 1: States during a joint session of Congress. It's about time

431
00:24:53,560 --> 00:24:57,480
Speaker 1: they are House Speaker Nancy Pelosi and Vice President Kamala Harris.

432
00:24:58,000 --> 00:25:02,600
Speaker 1: Speaker Pelosi told ABC New Senior Congressional correspondent Rachel Scott

433
00:25:02,920 --> 00:25:05,879
Speaker 1: how proud she is that history is being made tonight.

434
00:25:06,119 --> 00:25:09,320
Speaker 1: We have sound on that. I'm so exciting to be

435
00:25:09,480 --> 00:25:11,960
Speaker 1: up there with Kamala Vice President of the United States,

436
00:25:12,200 --> 00:25:16,159
Speaker 1: not just a woman, African American woman, Asian American woman,

437
00:25:16,520 --> 00:25:20,600
Speaker 1: man um a woman there. So it is his story.

438
00:25:22,040 --> 00:25:24,600
Speaker 1: So there we go a bit of history tonight, and

439
00:25:24,680 --> 00:25:28,159
Speaker 1: I think that makes all Americans proud, regardless of party.

440
00:25:28,520 --> 00:25:30,880
Speaker 1: So Rick Davis, what are you going to be watching

441
00:25:31,040 --> 00:25:34,560
Speaker 1: for tonight as the president speaks on his ninety ninth

442
00:25:34,720 --> 00:25:39,080
Speaker 1: day in office. Well, I'm pretty confident that Nancy Pelosi

443
00:25:39,119 --> 00:25:41,040
Speaker 1: isn't going to rip up the speech in the course

444
00:25:41,119 --> 00:25:43,920
Speaker 1: of him giving it. I mean, we're gonna miss some

445
00:25:44,000 --> 00:25:47,560
Speaker 1: of those theatrics that were around during the Donald Trump era.

446
00:25:48,040 --> 00:25:50,840
Speaker 1: But look, I mean I think it's Matt talked about

447
00:25:50,880 --> 00:25:52,560
Speaker 1: this a little bit earlier. I mean, there's a lot

448
00:25:52,640 --> 00:25:54,480
Speaker 1: to talk about. I mean, he's had a very successful

449
00:25:54,680 --> 00:25:57,720
Speaker 1: hundred days. Um, you know, COVID obviously is still the

450
00:25:57,800 --> 00:26:00,920
Speaker 1: number one issue and uh, and I think that how

451
00:26:00,960 --> 00:26:04,000
Speaker 1: do you fit all the different initiatives in there without

452
00:26:04,119 --> 00:26:07,560
Speaker 1: getting to a point where you're either talking too long,

453
00:26:07,840 --> 00:26:11,360
Speaker 1: you know, over an hour, or that you've just done

454
00:26:11,400 --> 00:26:14,879
Speaker 1: a list of things rather than actually making the case people.

455
00:26:15,600 --> 00:26:17,720
Speaker 1: I was benefited enough to be in the Ronald Reagan

456
00:26:17,720 --> 00:26:19,399
Speaker 1: White House when he gave State of the Unions and

457
00:26:19,480 --> 00:26:22,680
Speaker 1: he talked about how things affected real people. He didn't

458
00:26:22,720 --> 00:26:26,359
Speaker 1: really talk about legislation or budgets. He he made it practical,

459
00:26:26,640 --> 00:26:29,760
Speaker 1: and so I think that that was sort of I

460
00:26:29,880 --> 00:26:32,600
Speaker 1: think the model at the time. And it'll be interesting

461
00:26:32,640 --> 00:26:34,840
Speaker 1: to see if Biden goes back to that. You know,

462
00:26:34,960 --> 00:26:37,600
Speaker 1: Uncle Joe is known for that kind of an act.

463
00:26:37,680 --> 00:26:40,600
Speaker 1: And we'll see if he has one tonight and it's

464
00:26:40,600 --> 00:26:43,000
Speaker 1: going to be strange tonight, Rick and Matt with with

465
00:26:43,280 --> 00:26:46,280
Speaker 1: no guests there. Um, I think we're all sort of

466
00:26:46,400 --> 00:26:50,119
Speaker 1: used to since Ronald Reagan, sort of the highlighting of

467
00:26:50,320 --> 00:26:54,040
Speaker 1: of Americans who are notable, and of course we're not

468
00:26:54,119 --> 00:26:56,639
Speaker 1: going to see much of that tonight. So Matt, what

469
00:26:56,760 --> 00:26:59,639
Speaker 1: are you watching for tonight as as you listen to

470
00:26:59,760 --> 00:27:03,360
Speaker 1: this speech and watch the speech from the president. Well,

471
00:27:03,400 --> 00:27:05,760
Speaker 1: the first thing is the thing you started with, which

472
00:27:05,840 --> 00:27:09,959
Speaker 1: is this historic tableau of two women sitting behind the president.

473
00:27:10,440 --> 00:27:13,960
Speaker 1: And I will be remembering a very gracious moment when

474
00:27:14,040 --> 00:27:17,639
Speaker 1: then President George W. Bush said it was his great

475
00:27:17,760 --> 00:27:21,720
Speaker 1: honor uh to begin his speech by saying, madam speaker.

476
00:27:22,320 --> 00:27:24,320
Speaker 1: Be the first president ever to say madam speaker in

477
00:27:24,880 --> 00:27:28,119
Speaker 1: two thousand seven. And you know, that was a moment,

478
00:27:28,480 --> 00:27:31,000
Speaker 1: I think, a very important moment to the country where

479
00:27:31,320 --> 00:27:37,040
Speaker 1: you had a president graciously acknowledging his opponents in the

480
00:27:37,119 --> 00:27:40,720
Speaker 1: other party, um, and noting that it's a big moment

481
00:27:40,800 --> 00:27:43,840
Speaker 1: for the country. I hope that Republicans were in attendance

482
00:27:43,880 --> 00:27:46,960
Speaker 1: tonight will have that kind of grace and I expect

483
00:27:47,040 --> 00:27:50,320
Speaker 1: that they will. Um in terms of what Biden will

484
00:27:50,440 --> 00:27:53,840
Speaker 1: talk about, one thing we haven't discussed yet because there's

485
00:27:53,920 --> 00:27:57,679
Speaker 1: so many other things. Is the entire rest of the world.

486
00:27:57,840 --> 00:28:00,520
Speaker 1: I mean, the president is the commander in chief. UM,

487
00:28:00,640 --> 00:28:02,280
Speaker 1: he will have to talk a little bit about foreign

488
00:28:02,320 --> 00:28:05,119
Speaker 1: policy and national security. I doubt it will take up

489
00:28:05,240 --> 00:28:07,440
Speaker 1: much of the speech, but there is just a lot

490
00:28:07,520 --> 00:28:09,919
Speaker 1: to get to. Yeah, what do you think the chances

491
00:28:09,960 --> 00:28:13,320
Speaker 1: are that he doesn't talk about China? Zero? I mean,

492
00:28:13,400 --> 00:28:16,399
Speaker 1: we're in a near peer competition. It's different than the

493
00:28:16,560 --> 00:28:20,720
Speaker 1: era we had during Afghanistan and Iraq and Syria and

494
00:28:21,080 --> 00:28:23,200
Speaker 1: uh and And I imagine he's going to send a

495
00:28:23,240 --> 00:28:25,880
Speaker 1: message to China to tonight from the diet, don't you think,

496
00:28:25,920 --> 00:28:30,280
Speaker 1: Matt for sure. And actually, one of the places where

497
00:28:30,320 --> 00:28:34,000
Speaker 1: there has been tremendous bipartisan agreement in the Senate at

498
00:28:34,080 --> 00:28:36,920
Speaker 1: least is around responding to China. There have been some

499
00:28:37,520 --> 00:28:41,480
Speaker 1: really strange bedfellows getting together in the Senate, including Schumer

500
00:28:41,560 --> 00:28:46,480
Speaker 1: and some very conservative Republicans on legislation to help the

501
00:28:46,560 --> 00:28:51,880
Speaker 1: United States compete against China economically and to reigning China's ambitions,

502
00:28:52,240 --> 00:28:55,840
Speaker 1: UM geopolitically. And there's no doubt he has to talk

503
00:28:55,880 --> 00:28:58,320
Speaker 1: about that. And of course one of the things we

504
00:28:58,440 --> 00:29:01,240
Speaker 1: expect the President to do to is to take something

505
00:29:01,320 --> 00:29:03,920
Speaker 1: of a victory lap, as we've discussed in terms of

506
00:29:04,000 --> 00:29:06,480
Speaker 1: the the how how much he's been able to do

507
00:29:07,000 --> 00:29:09,600
Speaker 1: in just a hundred days on the pandemic and on

508
00:29:09,760 --> 00:29:13,520
Speaker 1: COVID and on vaccinations, and of course that's intimately tied

509
00:29:13,560 --> 00:29:16,640
Speaker 1: to the state of the economy. And earlier today we

510
00:29:16,800 --> 00:29:20,520
Speaker 1: heard from Chairman Jerome Powell that the Federal Reserve has

511
00:29:20,600 --> 00:29:24,080
Speaker 1: decided to take a more cautious approach. They announced that

512
00:29:24,160 --> 00:29:27,720
Speaker 1: they will keep the ultra interest rate policies in place,

513
00:29:27,880 --> 00:29:31,160
Speaker 1: and we have sound on that the sectors of the

514
00:29:31,240 --> 00:29:35,160
Speaker 1: economy most adversely affected by the pandemic remain weak but

515
00:29:35,280 --> 00:29:40,160
Speaker 1: have shown improvement. While the recovery has progressed more quickly

516
00:29:40,240 --> 00:29:43,880
Speaker 1: than generally expected, it remains uneven and far from complete.

517
00:29:45,120 --> 00:29:47,680
Speaker 1: So so Rick Davis. I was listening to a couple

518
00:29:47,760 --> 00:29:50,840
Speaker 1: economists earlier today who were saying they're not surprised that

519
00:29:50,920 --> 00:29:53,120
Speaker 1: the Fed has taken no action, is not going to

520
00:29:53,200 --> 00:29:55,520
Speaker 1: take action. In fact, one of them, I think, said,

521
00:29:55,680 --> 00:29:57,760
Speaker 1: you know, it's going to be several months, if not longer,

522
00:29:57,920 --> 00:30:02,440
Speaker 1: before they will. Do you have any concerns about inflation

523
00:30:02,640 --> 00:30:05,760
Speaker 1: that seems to be something the at least Chairman Powell

524
00:30:06,080 --> 00:30:09,520
Speaker 1: has not expressed much concern about well. In fact, German

525
00:30:09,520 --> 00:30:12,080
Speaker 1: Powell has said, you know, it's now not time to

526
00:30:12,200 --> 00:30:14,600
Speaker 1: be concerned about inflation, and then when it raises his

527
00:30:14,760 --> 00:30:16,920
Speaker 1: ugly head, he will do what the Fed can do

528
00:30:17,040 --> 00:30:20,200
Speaker 1: to control it. But what is more important is economic development,

529
00:30:20,320 --> 00:30:23,200
Speaker 1: you know, and getting out of the current economic situation

530
00:30:23,280 --> 00:30:25,560
Speaker 1: that COVID has put us in. And and it will

531
00:30:25,560 --> 00:30:30,200
Speaker 1: be interesting to see on this case how much tonight

532
00:30:30,600 --> 00:30:33,280
Speaker 1: President Biden is able to match wanting to have a

533
00:30:33,360 --> 00:30:35,640
Speaker 1: victory lap on on COVID, like you talked about two

534
00:30:36,040 --> 00:30:39,280
Speaker 1: million vaccine vaccinations, all these kinds of things, money spent

535
00:30:39,400 --> 00:30:43,360
Speaker 1: on the economy versus a more sober approach which Chairman

536
00:30:43,400 --> 00:30:45,280
Speaker 1: Powell has taken, which is, hey, we've got a lot

537
00:30:45,360 --> 00:30:47,840
Speaker 1: more still to do. We are not anywhere near full

538
00:30:47,840 --> 00:30:51,320
Speaker 1: of employment and uh and in the economy is doing

539
00:30:51,440 --> 00:30:55,200
Speaker 1: better in some sectors, but not overall. And so it's

540
00:30:55,280 --> 00:30:57,960
Speaker 1: kind of a mixed message. I'm looking for the big

541
00:30:58,000 --> 00:31:00,600
Speaker 1: announcement that you can take all your mass off inside

542
00:31:00,640 --> 00:31:02,959
Speaker 1: the chamber because everyone's been vaccinated. Do you think he's

543
00:31:03,000 --> 00:31:06,040
Speaker 1: going to do that tonight? I doubt it. I doubt it,

544
00:31:06,120 --> 00:31:08,600
Speaker 1: And am I understanding he's going to walk in with

545
00:31:08,720 --> 00:31:11,120
Speaker 1: a mask but remove it when when he speaks. I'm

546
00:31:11,120 --> 00:31:12,720
Speaker 1: not sure if I got that right, but that's what

547
00:31:12,840 --> 00:31:15,880
Speaker 1: I think I heard. Um. You know Matt as the

548
00:31:16,000 --> 00:31:19,440
Speaker 1: co founder of Third Way. One of the things that

549
00:31:19,640 --> 00:31:24,480
Speaker 1: I've been surprised by is how many Democrats have said

550
00:31:24,640 --> 00:31:28,600
Speaker 1: that they are pleasantly surprised, at least the progressives, by

551
00:31:28,720 --> 00:31:31,600
Speaker 1: how left leaning Joe Biden has been so far in

552
00:31:31,760 --> 00:31:35,440
Speaker 1: his presidency. Have you been surprised by that at all? Um,

553
00:31:36,000 --> 00:31:38,880
Speaker 1: Or is this what you expected from Joe Biden? I

554
00:31:38,960 --> 00:31:42,040
Speaker 1: can't say I did, having covered the election about a

555
00:31:42,160 --> 00:31:46,600
Speaker 1: year ago or knowing him all those years ago. You know,

556
00:31:46,760 --> 00:31:50,600
Speaker 1: I think one of the common misconceptions about Biden is

557
00:31:50,680 --> 00:31:52,880
Speaker 1: that he's somehow governing in ways that are different than

558
00:31:53,120 --> 00:31:55,320
Speaker 1: what he ran. I just don't think that's true. If

559
00:31:55,400 --> 00:31:59,000
Speaker 1: you listen to him back in the spring, what he

560
00:31:59,120 --> 00:32:02,880
Speaker 1: said was, um, Look, I am a moderate in that

561
00:32:03,080 --> 00:32:06,400
Speaker 1: I reject the notion that we should socialize large segments

562
00:32:06,440 --> 00:32:08,600
Speaker 1: of the economy. I don't think we should have Medicare

563
00:32:08,680 --> 00:32:11,280
Speaker 1: for all. I think we should keep the Affordable Care

564
00:32:11,320 --> 00:32:13,880
Speaker 1: Act and our health care system in place. I don't

565
00:32:13,920 --> 00:32:16,600
Speaker 1: think we should cancel all student debt. I don't think

566
00:32:16,640 --> 00:32:18,120
Speaker 1: we should do a whole bunch of the things that

567
00:32:18,200 --> 00:32:20,320
Speaker 1: Bernie Sanders was calling for and that folks on the

568
00:32:20,360 --> 00:32:23,320
Speaker 1: far left have been calling for. However, he said, we're

569
00:32:23,360 --> 00:32:26,880
Speaker 1: gonna need to go very big because you know, if

570
00:32:26,920 --> 00:32:30,520
Speaker 1: I win this race, I'm going to inherit three enormous crises,

571
00:32:30,720 --> 00:32:33,840
Speaker 1: the pandemic, the economic fallout from the pandemic, and the

572
00:32:34,000 --> 00:32:37,440
Speaker 1: racial justice crisis along with climate change. So for crisis

573
00:32:37,880 --> 00:32:41,680
Speaker 1: and all of that would require very large responses. So

574
00:32:42,320 --> 00:32:45,280
Speaker 1: no one should think that a moderate Democrat has to

575
00:32:45,400 --> 00:32:47,720
Speaker 1: act like Bill Clinton was acting when I worked in

576
00:32:47,760 --> 00:32:52,360
Speaker 1: the White House years ago. The world is completely different, um,

577
00:32:52,480 --> 00:32:55,040
Speaker 1: and we needed a big response. And I think what

578
00:32:55,160 --> 00:32:58,040
Speaker 1: he's offering is what he promised. Yeah, I think that, Matt,

579
00:32:58,080 --> 00:33:00,960
Speaker 1: You're right. I mean, you gotta listen to these politicians

580
00:33:01,040 --> 00:33:03,160
Speaker 1: these days. They actually do the things that they're promising.

581
00:33:03,200 --> 00:33:05,280
Speaker 1: I mean, people were in a state of shock when

582
00:33:05,320 --> 00:33:08,120
Speaker 1: Trump actually implemented the things that he thought he that

583
00:33:08,240 --> 00:33:10,480
Speaker 1: they that he was talking about on the campaign trail.

584
00:33:10,760 --> 00:33:13,200
Speaker 1: People thought, oh, that's crazy, he'll never do that. Boom,

585
00:33:13,280 --> 00:33:15,400
Speaker 1: he does it right, And and Joe Biden is the

586
00:33:15,440 --> 00:33:17,240
Speaker 1: same thing. He said he was gonna raise taxes on

587
00:33:17,440 --> 00:33:20,240
Speaker 1: wealthy Well, that's exactly what the plan says. He said

588
00:33:20,240 --> 00:33:22,239
Speaker 1: he was going to go big on coronavirus. He has

589
00:33:22,320 --> 00:33:24,640
Speaker 1: done that. Uh. And I think it's a lot of

590
00:33:24,680 --> 00:33:27,480
Speaker 1: it's definitional when you're a candidate. You're out there talking

591
00:33:27,520 --> 00:33:31,320
Speaker 1: about and he did, being bipartisan and being centrists, and

592
00:33:31,480 --> 00:33:34,240
Speaker 1: yet here are my policies. You strip away all that

593
00:33:34,480 --> 00:33:37,600
Speaker 1: kind of happy talk ideology stuff and you actually get

594
00:33:37,640 --> 00:33:40,040
Speaker 1: down to actually doing things in the White House. And

595
00:33:40,160 --> 00:33:42,400
Speaker 1: that's when you get to find and in this case

596
00:33:42,600 --> 00:33:45,480
Speaker 1: more left to center, in Trump's case, more right of center.

597
00:33:46,040 --> 00:33:48,600
Speaker 1: And uh and and yet at the same time, some

598
00:33:48,680 --> 00:33:51,320
Speaker 1: of it does get stripped away. I mean, Joe Biden

599
00:33:51,400 --> 00:33:55,960
Speaker 1: continues to talk about being bipartisan without being bipartisan, and

600
00:33:57,040 --> 00:33:59,640
Speaker 1: Mitch McConnell called him on it today. I suspect Tim

601
00:33:59,680 --> 00:34:02,440
Speaker 1: Scott we'll say something about that tonight in his response

602
00:34:02,520 --> 00:34:06,080
Speaker 1: to the speech of President Biden. And and it's so

603
00:34:06,360 --> 00:34:08,719
Speaker 1: so I think there is a little reconciliation going on.

604
00:34:08,960 --> 00:34:12,160
Speaker 1: But uh, I think he promised the leftward drift as

605
00:34:12,200 --> 00:34:14,600
Speaker 1: a candidate and that's what he's given the country. Okay,

606
00:34:14,719 --> 00:34:17,200
Speaker 1: Rick Davis, really quick, how many tweets has Joe Biden's

607
00:34:17,280 --> 00:34:20,759
Speaker 1: sent out? Also thanks to Christine Barratta, how many tweets? Quick?

608
00:34:20,920 --> 00:34:27,239
Speaker 1: Number five? Wrong? Wrong? Matthe you have a number H

609
00:34:27,360 --> 00:34:31,640
Speaker 1: five eight nine, partially right, You are partially right. I

610
00:34:31,760 --> 00:34:34,360
Speaker 1: want to thank all my guests. Stay tuned for coverage

611
00:34:34,400 --> 00:34:37,400
Speaker 1: of the President's Joined Addressed to Congress with David weston UM,

612
00:34:37,400 --> 00:34:40,760
Speaker 1: Bloomberg TV, and Ready at Radio starting tonight eight thirty

613
00:34:41,280 --> 00:34:44,640
Speaker 1: p m. Eastern Standard time. I'm Jeanie Schanzano, and this

614
00:34:44,960 --> 00:34:45,600
Speaker 1: is Bloomberg