1 00:00:01,480 --> 00:00:06,240 Speaker 1: Now from our nation's capital. This is Bloomberg Sound On 2 00:00:07,280 --> 00:00:10,039 Speaker 1: Deprominent labor and Osher in particulous stands ready to work 3 00:00:10,080 --> 00:00:12,600 Speaker 1: with companies and keeping their workers safe. As we continue 4 00:00:12,600 --> 00:00:15,200 Speaker 1: to move through this phase of the pandemic, this issue 5 00:00:15,200 --> 00:00:18,440 Speaker 1: of getting inflation under control should be the principal issue. 6 00:00:18,480 --> 00:00:23,520 Speaker 1: Bloomberg Sound On Politics, Policy and Perspective from DC's top name, 7 00:00:24,040 --> 00:00:26,960 Speaker 1: j Howell is getting confirmed in his job is to 8 00:00:27,000 --> 00:00:30,640 Speaker 1: give Republican a reason to stick with him. We probably 9 00:00:30,680 --> 00:00:32,599 Speaker 1: won't get all of the build doctor better and we've 10 00:00:32,600 --> 00:00:34,760 Speaker 1: presented to the Senate, but we can get big important 11 00:00:34,760 --> 00:00:38,839 Speaker 1: pieces of it. Bloomberg Sound On with Joe Matthew on 12 00:00:39,040 --> 00:00:43,360 Speaker 1: Bloomberg Radio. One year down and we have a lot 13 00:00:43,400 --> 00:00:46,280 Speaker 1: to talk about on the fastest hour in politics. Welcome 14 00:00:46,320 --> 00:00:49,680 Speaker 1: to a special edition of Bloomberg Sound On. As President 15 00:00:49,720 --> 00:00:53,000 Speaker 1: Biden marks the first anniversary of his swearing in, we 16 00:00:53,159 --> 00:00:55,520 Speaker 1: take stock of where we've been this past year and 17 00:00:55,560 --> 00:00:58,600 Speaker 1: what's ahead with some of the smartest minds in politics. 18 00:00:58,640 --> 00:01:01,280 Speaker 1: Will talk with Bloomberg White House reporters Nancy Cook and 19 00:01:01,360 --> 00:01:04,320 Speaker 1: Josh wind Grove about their new piece for Bloomberg Business 20 00:01:04,360 --> 00:01:06,520 Speaker 1: Week about year one, and we'll share Insights later with 21 00:01:06,560 --> 00:01:10,920 Speaker 1: political scientists Laura Brown and the panel Bloomberg Politics contributors 22 00:01:11,000 --> 00:01:13,960 Speaker 1: Jeanie Chanzano and Rick Davis with us. And it's a 23 00:01:14,080 --> 00:01:17,360 Speaker 1: rare pleasure to welcome two key members of the Bloomberg 24 00:01:17,440 --> 00:01:20,520 Speaker 1: White House team, reporters Nancy Cook and Josh Wing Grove 25 00:01:21,240 --> 00:01:23,960 Speaker 1: with us in studio. Happy anniversary to both of you. 26 00:01:24,480 --> 00:01:27,480 Speaker 1: That how that goes. You have a great piece for 27 00:01:27,520 --> 00:01:30,120 Speaker 1: Bloomberg Business Week marking the president's first year, and I 28 00:01:30,120 --> 00:01:31,679 Speaker 1: want to start with you both though on the way 29 00:01:31,680 --> 00:01:35,399 Speaker 1: that he rapped the year in his news conference last night, 30 00:01:35,440 --> 00:01:39,399 Speaker 1: and specifically his comments on Russia and Ukraine. This was 31 00:01:39,440 --> 00:01:43,120 Speaker 1: the remark that prompted headlines last evening. Russia will be 32 00:01:43,160 --> 00:01:46,320 Speaker 1: held accountable if it invades, and it depends on what 33 00:01:46,400 --> 00:01:49,680 Speaker 1: it does. It's one thing if it's a minor incursion 34 00:01:49,720 --> 00:01:51,560 Speaker 1: and then we end up having to fight about what 35 00:01:51,640 --> 00:01:54,360 Speaker 1: to do and not do, etcetera. But if they actually 36 00:01:54,400 --> 00:01:57,080 Speaker 1: do what they're capable of doing with the first amassed 37 00:01:57,120 --> 00:01:59,880 Speaker 1: on the border, it is going to be a disaster 38 00:02:00,080 --> 00:02:03,440 Speaker 1: for Russian So everyone seized on the line it depends 39 00:02:03,560 --> 00:02:06,280 Speaker 1: on what it does, and that led to an immediate 40 00:02:06,320 --> 00:02:09,919 Speaker 1: clean up statement from the Press Secretary Jansaki, reiterating the 41 00:02:09,960 --> 00:02:12,840 Speaker 1: White House policy. The clean up continued overnight into this 42 00:02:12,919 --> 00:02:16,400 Speaker 1: morning with the President himself. I've been absolutely clear with 43 00:02:16,480 --> 00:02:21,359 Speaker 1: President prudent, he has no misunderstanding. If any any assembled 44 00:02:21,440 --> 00:02:25,760 Speaker 1: Russian units move across the Ukrainian border, that is an invasion, 45 00:02:25,919 --> 00:02:30,120 Speaker 1: pretty definitive. Secretary of State Anthony Blinken will continue to 46 00:02:30,160 --> 00:02:32,720 Speaker 1: make very clear that if Moscow chooses the path at 47 00:02:32,720 --> 00:02:38,480 Speaker 1: further aggression, we will impose swift and massive costs. So, Nancy, 48 00:02:38,680 --> 00:02:42,520 Speaker 1: has that been cleaned up. I think that the clean 49 00:02:42,560 --> 00:02:44,679 Speaker 1: up will last likely all day to day. I think 50 00:02:44,680 --> 00:02:48,120 Speaker 1: that people were just really um taken aback by the 51 00:02:48,160 --> 00:02:50,640 Speaker 1: fact that President Biden basically said if it was a 52 00:02:50,680 --> 00:02:54,520 Speaker 1: minor incursion, they may not know. There were grades of right, 53 00:02:54,600 --> 00:02:57,040 Speaker 1: there was like a spectrum of invasion, and if you 54 00:02:57,080 --> 00:02:59,639 Speaker 1: were on the lower spectrum you wouldn't experience the same 55 00:02:59,680 --> 00:03:02,720 Speaker 1: ECONO mix sanctions. And so they've really walked and cleaned 56 00:03:02,760 --> 00:03:05,440 Speaker 1: that clean that up today. Um And I think it's 57 00:03:05,760 --> 00:03:08,440 Speaker 1: a real big risk for the White House moving forward. 58 00:03:08,680 --> 00:03:10,640 Speaker 1: You know, so much of the first year was about 59 00:03:10,760 --> 00:03:13,480 Speaker 1: COVID and the economy and the domestic agenda. I think 60 00:03:13,520 --> 00:03:15,320 Speaker 1: that our piece gets into the idea that the second 61 00:03:15,400 --> 00:03:17,880 Speaker 1: year will have to touch on some foreign policy things, 62 00:03:17,919 --> 00:03:21,200 Speaker 1: specifically with Russia and China, and the President is sort 63 00:03:21,200 --> 00:03:24,320 Speaker 1: of kicking off year two by making this gaff that's 64 00:03:24,360 --> 00:03:26,800 Speaker 1: not totally in line with what the White House's messaging 65 00:03:26,960 --> 00:03:28,760 Speaker 1: has been on what will happen to Russia if it 66 00:03:28,800 --> 00:03:31,280 Speaker 1: invades Ukraine. Before we dig more into the piece, Josh, 67 00:03:31,360 --> 00:03:34,120 Speaker 1: two hours on TV means a lot of tape, a 68 00:03:34,160 --> 00:03:36,440 Speaker 1: lot of tape for the opposition, a lot of tape 69 00:03:36,480 --> 00:03:39,640 Speaker 1: for reporters, the president by tape for Russian state media. 70 00:03:39,960 --> 00:03:42,480 Speaker 1: Well yeah, so did he hurt himself with this news 71 00:03:42,560 --> 00:03:45,240 Speaker 1: conference or or help himself? I mean it depends on 72 00:03:45,280 --> 00:03:48,040 Speaker 1: the audience that you're looking at. He gave fodder to everyone, 73 00:03:48,240 --> 00:03:50,640 Speaker 1: no doubt, and you know they're cleaning up not only 74 00:03:50,760 --> 00:03:53,640 Speaker 1: this one answer on Ukraine, but also the answer on 75 00:03:53,760 --> 00:03:55,960 Speaker 1: voting rights. Um. You know, there's a little bit of 76 00:03:55,960 --> 00:03:58,960 Speaker 1: clean up that comes with every president. Um. But you 77 00:03:59,040 --> 00:04:01,600 Speaker 1: know they for you know, they were trying to give 78 00:04:01,760 --> 00:04:05,000 Speaker 1: this sort of image of like you know, vigor and 79 00:04:05,280 --> 00:04:07,600 Speaker 1: like you know, on its feet kind of thing for 80 00:04:07,720 --> 00:04:11,080 Speaker 1: nearly two hours, and what you know, in the end there, 81 00:04:11,120 --> 00:04:13,000 Speaker 1: there was a lot of news out of it, including 82 00:04:13,120 --> 00:04:15,640 Speaker 1: this gap. Now what they're what they're essentially saying when 83 00:04:15,680 --> 00:04:18,240 Speaker 1: it comes to minor incursion is you can do a 84 00:04:18,279 --> 00:04:20,960 Speaker 1: lot of stuff to mess with Ukraine without Russian troops 85 00:04:21,040 --> 00:04:24,039 Speaker 1: crossing the border. They're talking about cyber attacks, are talking 86 00:04:24,040 --> 00:04:26,000 Speaker 1: about the sort of quote unquote little green men that 87 00:04:26,080 --> 00:04:28,840 Speaker 1: we saw in the dom Bass to agitate the situation, 88 00:04:29,360 --> 00:04:33,080 Speaker 1: talking about paramilitary things. And not only was it a gap, 89 00:04:33,120 --> 00:04:35,640 Speaker 1: it kind of actually hinted at something that are reporting 90 00:04:36,200 --> 00:04:38,680 Speaker 1: of our colleagues, Nick Wadhams and others and other other 91 00:04:38,839 --> 00:04:42,880 Speaker 1: news agencies had only put on attributed to sources, which 92 00:04:42,920 --> 00:04:45,600 Speaker 1: is that NATO is a little divided on what to do. 93 00:04:45,800 --> 00:04:48,000 Speaker 1: If that's the case, NATO is all on the same 94 00:04:48,040 --> 00:04:50,720 Speaker 1: page of troops march across the border, you know, everyone 95 00:04:50,800 --> 00:04:52,720 Speaker 1: knows what to do with that, But if it's this 96 00:04:52,880 --> 00:04:56,640 Speaker 1: sort of more small ball clandistine like you know, by 97 00:04:56,680 --> 00:04:59,520 Speaker 1: the Night sort of stuff, NATO is of mixed mind 98 00:04:59,560 --> 00:05:01,480 Speaker 1: on how hard to go on sanctions. So that that's 99 00:05:01,760 --> 00:05:03,000 Speaker 1: the problem that they're going to be in. So if 100 00:05:03,000 --> 00:05:05,320 Speaker 1: Putin takes the invitation starts doing that stuff, we're going 101 00:05:05,360 --> 00:05:07,400 Speaker 1: to see those divisions. So when we see a performance 102 00:05:07,480 --> 00:05:10,080 Speaker 1: like that, I guess I'll ask you, Nancy. From President 103 00:05:10,160 --> 00:05:13,080 Speaker 1: Biden over the course of two hours, I'm sure people 104 00:05:13,120 --> 00:05:15,640 Speaker 1: of the press officer pulling their hair out. What do 105 00:05:15,720 --> 00:05:18,560 Speaker 1: you make of these two honest moments that that are 106 00:05:18,640 --> 00:05:21,720 Speaker 1: are not very Washington but get people and all lather 107 00:05:21,880 --> 00:05:24,240 Speaker 1: when he goes to the podium. Well, Biden has been 108 00:05:24,279 --> 00:05:26,240 Speaker 1: in Washington, you know for years. He was in the 109 00:05:26,240 --> 00:05:28,280 Speaker 1: Senate for thirty six years, he was vice president for 110 00:05:28,320 --> 00:05:32,680 Speaker 1: eight years. This is part of his trademark political persona, 111 00:05:32,880 --> 00:05:35,120 Speaker 1: making these gaffs or these um, you know, off the 112 00:05:35,240 --> 00:05:38,480 Speaker 1: cuff statements that people can misinterpret, of course, and and 113 00:05:38,600 --> 00:05:41,040 Speaker 1: so I think it's what his press office, uh, you know, 114 00:05:41,200 --> 00:05:44,680 Speaker 1: fears on a daily basis when he takes questions from reporters. Um. 115 00:05:44,760 --> 00:05:47,480 Speaker 1: But I also think that they felt like, uh, you know, 116 00:05:47,600 --> 00:05:51,320 Speaker 1: what could they lose because the last week was so 117 00:05:51,600 --> 00:05:53,720 Speaker 1: bad and so rough for them in terms of the 118 00:05:53,800 --> 00:05:57,000 Speaker 1: voting rights legislation and build back better the president's sweeping 119 00:05:57,080 --> 00:05:59,760 Speaker 1: social agenda, and it just seems like things are released 120 00:06:00,000 --> 00:06:01,640 Speaker 1: hold out for them and they haven't done a good 121 00:06:01,720 --> 00:06:04,720 Speaker 1: job of selling what they actually have passed. Already, and 122 00:06:04,800 --> 00:06:06,240 Speaker 1: so I think that they took a risk with the 123 00:06:06,279 --> 00:06:08,280 Speaker 1: press conference, and then we turned to the headline in 124 00:06:08,360 --> 00:06:11,400 Speaker 1: your piece. One year into his presidency, Biden hits a wall. 125 00:06:12,080 --> 00:06:14,560 Speaker 1: Can he recover? You ask, and you start by painting 126 00:06:14,600 --> 00:06:17,280 Speaker 1: the picture that Joe Biden had in mind for the 127 00:06:17,360 --> 00:06:19,040 Speaker 1: start of this year. What it should have been, a 128 00:06:19,120 --> 00:06:22,440 Speaker 1: world in which COVID was over, the economy growing strongly, 129 00:06:22,560 --> 00:06:25,720 Speaker 1: the bulk of his agenda passed on Capitol Hill. It 130 00:06:25,760 --> 00:06:28,800 Speaker 1: reminds me of a question asked last evening, did you 131 00:06:28,960 --> 00:06:31,680 Speaker 1: overpromise for your first year? Here's what he said. I 132 00:06:31,839 --> 00:06:36,520 Speaker 1: did not anticipate that there'ld be such a stalwart effort 133 00:06:36,960 --> 00:06:40,400 Speaker 1: to make sure that the most important thing was that 134 00:06:40,680 --> 00:06:43,240 Speaker 1: President Biden didn't get anything done. So was that a 135 00:06:43,279 --> 00:06:45,560 Speaker 1: fair assessment? And the way he answered that question, well, 136 00:06:45,600 --> 00:06:48,320 Speaker 1: I think that what what struck Josh and I so 137 00:06:48,480 --> 00:06:51,200 Speaker 1: much is that when we reported, we reported a piece 138 00:06:51,240 --> 00:06:53,599 Speaker 1: on his first one days, Biden's first one hundred days, 139 00:06:53,640 --> 00:06:55,680 Speaker 1: and and there was a real sense of optimism they 140 00:06:55,760 --> 00:06:58,880 Speaker 1: were distributing in the vaccine um. You know, schools were 141 00:06:58,920 --> 00:07:02,520 Speaker 1: slowly reopening in the government was returning to a little 142 00:07:02,560 --> 00:07:05,080 Speaker 1: bit of a sense of normalcy, like President Biden does 143 00:07:05,160 --> 00:07:07,960 Speaker 1: not tweet at nine pm on a Friday night. Um, 144 00:07:08,040 --> 00:07:09,640 Speaker 1: And there was a sense inside the White House that 145 00:07:09,760 --> 00:07:12,680 Speaker 1: they would have his economic agenda sort of passed already 146 00:07:12,760 --> 00:07:14,720 Speaker 1: and that they would go into the second year in 147 00:07:14,760 --> 00:07:17,600 Speaker 1: a totally different position. That has not been the case. 148 00:07:17,760 --> 00:07:20,680 Speaker 1: And I would argue that sort of the downfall really 149 00:07:20,720 --> 00:07:23,400 Speaker 1: started for them with the Afghanistan withdrawal, and then it 150 00:07:23,520 --> 00:07:26,840 Speaker 1: just really picked up steam with economic agenda not passing 151 00:07:26,960 --> 00:07:29,960 Speaker 1: and voting rights and Democrats on the Hill are nervous 152 00:07:29,960 --> 00:07:32,160 Speaker 1: about the mid terms, and progressives are mad at him 153 00:07:32,160 --> 00:07:34,440 Speaker 1: about voting rights, and black voters are mad at him, 154 00:07:34,440 --> 00:07:37,240 Speaker 1: and so it's just really been sort of a snowball thing. 155 00:07:37,440 --> 00:07:40,240 Speaker 1: And usually you see presidents kind of stalled out or 156 00:07:40,280 --> 00:07:43,240 Speaker 1: their agenda stuck in, like you're at the end of 157 00:07:43,320 --> 00:07:46,400 Speaker 1: year two or three of their presidency. He's sort of 158 00:07:46,440 --> 00:07:49,720 Speaker 1: facing that much earlier. Everyone seems to want to seize 159 00:07:49,760 --> 00:07:52,400 Speaker 1: on the Afghanistan withdrawal as the turning point, Josh, And 160 00:07:52,880 --> 00:07:55,480 Speaker 1: you may feel that same way if it had been 161 00:07:55,520 --> 00:07:59,000 Speaker 1: a successful withdrawal. Would it feel different right now? I'm 162 00:07:59,000 --> 00:08:00,960 Speaker 1: not sure to feel bad different. You know, the White 163 00:08:01,000 --> 00:08:04,400 Speaker 1: House at least attributes, you know, the current you know, 164 00:08:04,520 --> 00:08:07,640 Speaker 1: bad ditch that they're into COVID right, we're dealing with amercron. 165 00:08:07,720 --> 00:08:09,400 Speaker 1: It feels like we're never getting out of this again. 166 00:08:09,440 --> 00:08:12,080 Speaker 1: Everyone was scrambling for tests. And remember at the same 167 00:08:12,120 --> 00:08:14,040 Speaker 1: time of Afghanistan, it was a double emmy because that 168 00:08:14,160 --> 00:08:16,480 Speaker 1: was happening with Delta as well. We were right back 169 00:08:16,560 --> 00:08:19,960 Speaker 1: to you know, suddenly cases were soaring again. Everyone thought 170 00:08:20,040 --> 00:08:22,320 Speaker 1: this new threat. You know, remember they had at the 171 00:08:22,480 --> 00:08:24,960 Speaker 1: time said that with two vaccines you could take off 172 00:08:24,960 --> 00:08:27,040 Speaker 1: your mask in public and everything. And then we sort 173 00:08:27,080 --> 00:08:29,280 Speaker 1: of realized that the science is changing these new variants. 174 00:08:29,840 --> 00:08:32,520 Speaker 1: I mean that nothing is all that certain. So I 175 00:08:32,640 --> 00:08:36,480 Speaker 1: think that they attribute a lot of the doldrums to COVID, 176 00:08:36,640 --> 00:08:40,880 Speaker 1: and they think that they're beginning to be cautiously optimistic 177 00:08:41,000 --> 00:08:44,120 Speaker 1: that the worst of omicron is either with us now 178 00:08:44,720 --> 00:08:46,560 Speaker 1: or starting to be a little bit behind us. They 179 00:08:46,559 --> 00:08:48,360 Speaker 1: haven't said this publicly, but this came out in a 180 00:08:48,440 --> 00:08:52,240 Speaker 1: reporting that look, you know, they they when when it arrived, 181 00:08:52,320 --> 00:08:54,959 Speaker 1: you knew it was more contagious, more transmissible, they would say. 182 00:08:55,160 --> 00:08:57,520 Speaker 1: And then it packed a bigger punch, or packed packed 183 00:08:57,520 --> 00:08:59,280 Speaker 1: a punch, but not as big a punch as delta, 184 00:08:59,320 --> 00:09:01,280 Speaker 1: excuse me. I think they are starting to see that 185 00:09:01,360 --> 00:09:03,280 Speaker 1: that is the case, maybe even a little bit weaker 186 00:09:03,320 --> 00:09:05,840 Speaker 1: of a punch, and that even though the numbers are 187 00:09:05,920 --> 00:09:10,040 Speaker 1: very high, we're not seeing a continued acceleration of cases. 188 00:09:10,080 --> 00:09:13,160 Speaker 1: So I think they're banking a lot on people putting 189 00:09:13,240 --> 00:09:16,920 Speaker 1: COVID behind them, kind of like where right exactly exactly. 190 00:09:17,040 --> 00:09:19,280 Speaker 1: So then it's like events you know, happen, you know, 191 00:09:19,400 --> 00:09:21,199 Speaker 1: and so we're gonna maybe see a new variant. We're 192 00:09:21,200 --> 00:09:24,000 Speaker 1: gonna maybe see God, you know who knows, Russia, China, 193 00:09:24,160 --> 00:09:26,440 Speaker 1: pick pick your wild card, and any one of these 194 00:09:26,480 --> 00:09:29,240 Speaker 1: things will will derail things again potentially for them. Nancy 195 00:09:29,360 --> 00:09:32,520 Speaker 1: was Joe Mansion the most important person in Joe Biden's 196 00:09:32,559 --> 00:09:35,280 Speaker 1: life last year, he was. I do feel like when 197 00:09:35,320 --> 00:09:38,360 Speaker 1: you talk to White House staffers, the amount that they 198 00:09:38,440 --> 00:09:41,880 Speaker 1: think about Joe mansions thoughts and feelings and current state 199 00:09:41,920 --> 00:09:44,360 Speaker 1: of mind, it's amazing. And I do think that that 200 00:09:44,640 --> 00:09:46,679 Speaker 1: was a big part of their problem too. You know, 201 00:09:46,760 --> 00:09:50,680 Speaker 1: they did win the Senate um with those two Georgia 202 00:09:50,760 --> 00:09:53,520 Speaker 1: Senate seats, but what ended up happening was the margins 203 00:09:53,559 --> 00:09:56,160 Speaker 1: were so slim that you know, their agenda has really 204 00:09:56,240 --> 00:10:00,160 Speaker 1: been halted on two key things by Senator's mansion and cinema. Uh, 205 00:10:00,480 --> 00:10:03,120 Speaker 1: and that has just been become a big obstacle um 206 00:10:03,200 --> 00:10:05,719 Speaker 1: and and that's not going to change over the next 207 00:10:05,800 --> 00:10:07,480 Speaker 1: year either. So that's something they're just going to have 208 00:10:07,559 --> 00:10:09,720 Speaker 1: to brush up against. And I think part of the problem, 209 00:10:09,800 --> 00:10:12,839 Speaker 1: back to your question about over promising, is President Biden 210 00:10:12,880 --> 00:10:15,559 Speaker 1: spent so much time sort of touting his thirty six 211 00:10:15,679 --> 00:10:17,800 Speaker 1: years in the Senate and how he was, you know, 212 00:10:17,880 --> 00:10:19,960 Speaker 1: good at reaching across the aisle and good at making 213 00:10:20,080 --> 00:10:24,280 Speaker 1: deals and understood Congress and and that really hasn't panned 214 00:10:24,280 --> 00:10:26,559 Speaker 1: out for everything. And I think that they've gotten some 215 00:10:26,600 --> 00:10:31,240 Speaker 1: blowback there. So what will define this new year? Can 216 00:10:31,320 --> 00:10:33,920 Speaker 1: he recovery? You're asking in your headline, is it COVID? 217 00:10:34,160 --> 00:10:36,600 Speaker 1: Is it the mid terms? Josh? Is something else? Well? 218 00:10:36,720 --> 00:10:40,360 Speaker 1: They those can't think it's again double barreled. If COVID 219 00:10:40,520 --> 00:10:43,440 Speaker 1: is bad, there, whatever slim hope they have of holding 220 00:10:43,520 --> 00:10:46,880 Speaker 1: the House is probably shot. So you know, they their 221 00:10:47,000 --> 00:10:50,559 Speaker 1: dream scenario is COVID falls off or at least goes 222 00:10:50,600 --> 00:10:52,760 Speaker 1: down to that endemic stage where it's we're not all 223 00:10:52,920 --> 00:10:56,800 Speaker 1: all that fussed about it. Every day that inflation eases off, 224 00:10:57,520 --> 00:10:59,240 Speaker 1: which of course doesn't mean prices go down, It just 225 00:10:59,320 --> 00:11:01,360 Speaker 1: means they rise as quickly, so you know, people will 226 00:11:01,360 --> 00:11:03,760 Speaker 1: still be paying for their high prices and then things 227 00:11:03,800 --> 00:11:05,280 Speaker 1: get back to normal, and that is their hope to 228 00:11:05,320 --> 00:11:08,679 Speaker 1: actually try to maybe hold one or both chambers. If 229 00:11:08,720 --> 00:11:10,480 Speaker 1: that doesn't happen, then Joe Biden is going to have 230 00:11:10,559 --> 00:11:14,000 Speaker 1: a pretty rough two years after that. He's not gonna 231 00:11:14,000 --> 00:11:15,280 Speaker 1: be able to get a lock done, and that adds 232 00:11:15,400 --> 00:11:17,959 Speaker 1: urgency to try to pass what he's called chunks of 233 00:11:18,040 --> 00:11:20,719 Speaker 1: this build back. Petter Agenda, I find this funny. He's 234 00:11:20,760 --> 00:11:23,280 Speaker 1: got a cartoon Joe in his in the White House 235 00:11:23,360 --> 00:11:25,920 Speaker 1: framed where a man is screaming into the heavens why me, 236 00:11:26,240 --> 00:11:29,319 Speaker 1: and and God shouts back, why not? And I think 237 00:11:29,360 --> 00:11:31,520 Speaker 1: that gives his sort of state of mind of all 238 00:11:31,559 --> 00:11:33,280 Speaker 1: the things he's having to deal with right now. When 239 00:11:33,320 --> 00:11:36,480 Speaker 1: are you guys going to write a book together? I'll 240 00:11:36,520 --> 00:11:39,439 Speaker 1: give Nancy the weekend she had an adventure in Wilmington's 241 00:11:42,240 --> 00:11:45,400 Speaker 1: give me a Saturday out of the office, and and 242 00:11:45,480 --> 00:11:48,120 Speaker 1: then then ask me. I think this piece is evidence 243 00:11:48,200 --> 00:11:50,800 Speaker 1: that it's already being written. Nancy Cook and Josh wind Grove. 244 00:11:50,920 --> 00:11:53,440 Speaker 1: Really great pleasure to be in the same room. Thanks 245 00:11:53,480 --> 00:11:55,920 Speaker 1: for being with us. On sound on. That is a 246 00:11:55,960 --> 00:11:58,160 Speaker 1: book I want to read. We're just getting started on 247 00:11:58,240 --> 00:12:00,800 Speaker 1: the fastest hour in politics, and me up. We'll assemble 248 00:12:00,840 --> 00:12:04,200 Speaker 1: the panel on a special edition. Genie and Rick are 249 00:12:04,280 --> 00:12:07,520 Speaker 1: next on sound On. I'm Joe Matthew in Washington. This 250 00:12:07,960 --> 00:12:13,840 Speaker 1: is Bloomberg. This is Bloomberg son On with Joe Matthew 251 00:12:14,360 --> 00:12:19,719 Speaker 1: on Bloomberg Radio. One year ago, at this moment, the 252 00:12:19,880 --> 00:12:24,040 Speaker 1: parades were winding down and the new president was ensconced 253 00:12:24,160 --> 00:12:27,520 Speaker 1: in the White House, where he held a signing ceremony 254 00:12:27,640 --> 00:12:31,600 Speaker 1: to mark a national day of unity. Remember then, they 255 00:12:31,640 --> 00:12:35,200 Speaker 1: seem a bit quaint on this first anniversary, but let's 256 00:12:35,200 --> 00:12:37,320 Speaker 1: talk to the panel about it one year later. Bloomberg 257 00:12:37,360 --> 00:12:40,600 Speaker 1: Politics contributors to Genie Chanzano and Rick Davis have been 258 00:12:40,679 --> 00:12:43,319 Speaker 1: with you for every turn, every crisis, every stage of 259 00:12:43,440 --> 00:12:47,200 Speaker 1: this first year, and there with us now, Genie. President 260 00:12:47,240 --> 00:12:50,280 Speaker 1: Biden's approval ratings are out there allows one year after 261 00:12:50,440 --> 00:12:53,439 Speaker 1: his swearing and depending on the poll you look at, 262 00:12:54,600 --> 00:12:58,960 Speaker 1: some are worse than where Donald Trump was. Are they 263 00:12:59,040 --> 00:13:02,520 Speaker 1: deserved well? And Joe Biden told us yesterday he doesn't 264 00:13:02,679 --> 00:13:05,680 Speaker 1: think about the polls. He doesn't believe in that. He's 265 00:13:06,080 --> 00:13:07,920 Speaker 1: you know, he sounds a bit like all the other 266 00:13:08,000 --> 00:13:10,719 Speaker 1: presidents that have come and god, um, you know, the 267 00:13:10,880 --> 00:13:13,800 Speaker 1: polls they can be believed. They can also be changed. 268 00:13:13,920 --> 00:13:16,640 Speaker 1: I mean they change, you know, a good deal. So 269 00:13:16,920 --> 00:13:19,439 Speaker 1: you can have a president like Bill Clinton had low 270 00:13:19,480 --> 00:13:22,400 Speaker 1: approval ratings. They were able to change those around. So 271 00:13:22,520 --> 00:13:25,240 Speaker 1: it really depends on how he goes forward. And I 272 00:13:25,360 --> 00:13:28,360 Speaker 1: think that's the challenge for Joe Biden is how is 273 00:13:28,400 --> 00:13:30,920 Speaker 1: he going to move forward? And yesterday he told us 274 00:13:30,960 --> 00:13:32,800 Speaker 1: he's going to get out of d C and fighting 275 00:13:32,920 --> 00:13:35,040 Speaker 1: scholars and other people to talk to him, and he's 276 00:13:35,040 --> 00:13:37,360 Speaker 1: going to focus on the mid terms. But I think 277 00:13:37,520 --> 00:13:39,640 Speaker 1: what he needs to do is I think he needs 278 00:13:39,679 --> 00:13:43,200 Speaker 1: to focus on getting some small winds in the legislative 279 00:13:43,200 --> 00:13:46,640 Speaker 1: arena and getting the pandemic behind us, and dealing with inflation. So, 280 00:13:47,160 --> 00:13:49,480 Speaker 1: you know, I was a little bit surprised by that answer, 281 00:13:49,559 --> 00:13:50,880 Speaker 1: but I think a lot of that is going to 282 00:13:50,960 --> 00:13:54,080 Speaker 1: depend if he can't turn inflation around. If it remains high, 283 00:13:54,440 --> 00:13:56,480 Speaker 1: he's going to have a bad year going into the 284 00:13:56,520 --> 00:13:59,000 Speaker 1: mid terms in terms of where they are now. Though, Rick, 285 00:13:59,080 --> 00:14:01,199 Speaker 1: you know, polling as as anyone. Do you believe that 286 00:14:01,240 --> 00:14:04,319 Speaker 1: they reflects the electorate. Yeah, I mean polls are only 287 00:14:04,360 --> 00:14:07,160 Speaker 1: accurate on the day they're taken, but they do demonstrate 288 00:14:07,240 --> 00:14:09,120 Speaker 1: a trend, right, I mean, like, well, that's what you 289 00:14:09,240 --> 00:14:13,520 Speaker 1: look at in these surveys is what direction our voters headed. 290 00:14:13,880 --> 00:14:16,040 Speaker 1: When you look at the surveys as a whole. Note, 291 00:14:16,160 --> 00:14:19,040 Speaker 1: and they are all pretty consistent on this. Voters are 292 00:14:19,040 --> 00:14:23,000 Speaker 1: getting more and more, uh, upset with the Biden administration, 293 00:14:23,520 --> 00:14:26,080 Speaker 1: upset with the policies of the Biden administration. I mean, 294 00:14:26,160 --> 00:14:28,440 Speaker 1: they may be working really hard to pass these policies, 295 00:14:28,720 --> 00:14:31,880 Speaker 1: but if voters aren't buying into it, uh, then then 296 00:14:31,960 --> 00:14:34,280 Speaker 1: they've got a problem. And and that's one of the 297 00:14:34,320 --> 00:14:37,360 Speaker 1: things that's uniquely different with Biden and with Trump. I mean, 298 00:14:37,440 --> 00:14:39,880 Speaker 1: people kind of like trump policies, but they thought he 299 00:14:40,000 --> 00:14:42,640 Speaker 1: was a jerk, so his personal ratings were always lower 300 00:14:42,680 --> 00:14:45,120 Speaker 1: than his job approval. And the job approval wasn't great. 301 00:14:45,360 --> 00:14:48,720 Speaker 1: With Biden, it's the opposite. His job approval is in 302 00:14:48,840 --> 00:14:51,600 Speaker 1: the in the in the in the hole. And and 303 00:14:51,880 --> 00:14:54,840 Speaker 1: and yet people think of him personally as someone they like. 304 00:14:55,120 --> 00:14:57,520 Speaker 1: And I think there is an opening to try and 305 00:14:57,920 --> 00:15:01,440 Speaker 1: get the job approval up to where his personal approval 306 00:15:01,600 --> 00:15:04,000 Speaker 1: ratings are, and that means that he's got a quit 307 00:15:04,080 --> 00:15:06,320 Speaker 1: going to Capitol Hill. He's got a quit. He's got 308 00:15:06,440 --> 00:15:08,880 Speaker 1: to ignore the rest of Washington and go out on 309 00:15:09,000 --> 00:15:11,240 Speaker 1: his own agenda. Take it to the American public, like 310 00:15:11,360 --> 00:15:13,840 Speaker 1: what he was talking about yesterday, Get on the road 311 00:15:14,200 --> 00:15:17,200 Speaker 1: and be the Joe Biden people like and talking about 312 00:15:17,320 --> 00:15:20,280 Speaker 1: things that frankly, are more popular than some of these 313 00:15:20,320 --> 00:15:22,760 Speaker 1: policies that he's been trying to pass in Washington. Well, 314 00:15:22,840 --> 00:15:24,960 Speaker 1: let's talk about the rest of Washington for a moment, 315 00:15:25,040 --> 00:15:27,360 Speaker 1: because the President, of course promised to reach across the 316 00:15:27,440 --> 00:15:31,120 Speaker 1: island seek compromise. That was the deal here right when 317 00:15:31,280 --> 00:15:35,240 Speaker 1: he delivered his inaugural address. Republicans say they've been shut 318 00:15:35,280 --> 00:15:38,480 Speaker 1: out though in this first year. They held a leadership 319 00:15:38,520 --> 00:15:42,160 Speaker 1: briefing today, a news briefing Minority Leader Kevin McCarthy. Prior 320 00:15:42,160 --> 00:15:45,280 Speaker 1: to the president office, we were in a pandemic. Every 321 00:15:45,360 --> 00:15:48,760 Speaker 1: single bill we did dealing with COVID was bipartisan. We 322 00:15:48,920 --> 00:15:52,680 Speaker 1: sat in a room with leaders on the other side administration, 323 00:15:52,800 --> 00:15:55,400 Speaker 1: and we worked it all out. The minute he became 324 00:15:55,520 --> 00:15:58,920 Speaker 1: president and they controlled the House and Senate, no longer 325 00:15:59,000 --> 00:16:02,240 Speaker 1: were Republicans and into the room. Is that a fair assessment, Genie, 326 00:16:02,280 --> 00:16:04,680 Speaker 1: from what you know? Uh? No, I don't think that's 327 00:16:04,840 --> 00:16:09,000 Speaker 1: entirely fair. I thought Mitch McConnell sorry, Mitch McConnell met 328 00:16:09,160 --> 00:16:12,480 Speaker 1: Romney's uh statement over the weekend about being not being 329 00:16:12,720 --> 00:16:15,440 Speaker 1: brought into the discussion on the voting rights issue, that 330 00:16:15,680 --> 00:16:18,680 Speaker 1: was a fair assessment. But you know, you've got to 331 00:16:18,760 --> 00:16:20,720 Speaker 1: balance this out a little bit. I think that was 332 00:16:20,800 --> 00:16:24,200 Speaker 1: a misstep by the Biden administration. I think the reality 333 00:16:24,360 --> 00:16:28,520 Speaker 1: here is that the Republicans were not willing to play 334 00:16:28,840 --> 00:16:32,840 Speaker 1: with the Biden administration on particular aspects of this policy. 335 00:16:32,920 --> 00:16:35,440 Speaker 1: That they fought these policies that they thought stretched too far. 336 00:16:35,680 --> 00:16:38,760 Speaker 1: There was a time when progressives were criticizing him Jeannie 337 00:16:38,840 --> 00:16:41,560 Speaker 1: for talking with Republicans, are waiting for them to come around. 338 00:16:42,040 --> 00:16:44,400 Speaker 1: They said, now, let's just go nuclear and do this alone, 339 00:16:45,120 --> 00:16:47,280 Speaker 1: and they simply don't have the numbers to do that. 340 00:16:47,440 --> 00:16:49,040 Speaker 1: You know, there is a school of thought that I 341 00:16:49,160 --> 00:16:51,560 Speaker 1: think is has some merit, which is that Joe Biden 342 00:16:51,640 --> 00:16:53,880 Speaker 1: may have been better off had he not won those 343 00:16:53,960 --> 00:16:55,960 Speaker 1: two seats in Georgia. He would have been forced to 344 00:16:56,000 --> 00:16:59,040 Speaker 1: work across the Aisle, and expectations by the progressives would 345 00:16:59,040 --> 00:17:02,440 Speaker 1: have been lower, but they won by the narrowest of margins, 346 00:17:02,600 --> 00:17:04,600 Speaker 1: and this is where he is. So he's had to 347 00:17:04,680 --> 00:17:08,680 Speaker 1: try to keep a very very energized progressive caucus on 348 00:17:08,800 --> 00:17:11,879 Speaker 1: his side, and in doing so, he's alienated some of 349 00:17:11,920 --> 00:17:14,240 Speaker 1: the moderates in his own party and of course certainly 350 00:17:14,280 --> 00:17:17,320 Speaker 1: the Republicans. That's an interesting scenario to think about, Rick, 351 00:17:17,400 --> 00:17:20,240 Speaker 1: because he may not keep both of those seats in Georgia. 352 00:17:20,720 --> 00:17:23,320 Speaker 1: Would that force the President to sit down with the 353 00:17:23,560 --> 00:17:26,440 Speaker 1: McCarthy's and McConnell's of the world. Well, I mean, if 354 00:17:26,480 --> 00:17:29,280 Speaker 1: he wants to get anything passing Congress, Yes, uh, that 355 00:17:29,520 --> 00:17:31,720 Speaker 1: right now, the current scenario that I think most people 356 00:17:31,720 --> 00:17:34,000 Speaker 1: are working off of, and including the White House, is 357 00:17:34,080 --> 00:17:36,160 Speaker 1: that the House is going to turn Republican. It doesn't 358 00:17:36,160 --> 00:17:38,600 Speaker 1: take much to do that, and and that there is 359 00:17:38,720 --> 00:17:42,440 Speaker 1: a potential Republican majority in the Senate. Therefore, if he 360 00:17:42,520 --> 00:17:46,480 Speaker 1: has any legislative interests on passing anything and that that 361 00:17:46,720 --> 00:17:50,000 Speaker 1: that that even means a budget, uh, then he's going 362 00:17:50,040 --> 00:17:53,560 Speaker 1: to have to have conversations with with whoever the Speaker is. 363 00:17:53,720 --> 00:17:56,240 Speaker 1: And I have no doubt that a majority leader would 364 00:17:56,280 --> 00:18:00,239 Speaker 1: be Mitch McConnell and so uh so. So I think 365 00:18:00,320 --> 00:18:02,800 Speaker 1: that they got to quit worrying about this legislative agenda. 366 00:18:02,880 --> 00:18:05,520 Speaker 1: I mean, they can't even get their own party on board. 367 00:18:05,960 --> 00:18:08,200 Speaker 1: He's got the bully pulpit if they want to try 368 00:18:08,280 --> 00:18:10,639 Speaker 1: and win some seats. And right now, I think the 369 00:18:10,680 --> 00:18:13,879 Speaker 1: calculation is, how do we not lose too many seats 370 00:18:13,960 --> 00:18:16,159 Speaker 1: at one time? Right? How do we how do we 371 00:18:16,240 --> 00:18:19,280 Speaker 1: get through this election cycle maybe with a democratic control 372 00:18:19,280 --> 00:18:22,199 Speaker 1: of the Senate and and and at least striking distance 373 00:18:22,200 --> 00:18:25,280 Speaker 1: in the House. And to Genie's points, get out of 374 00:18:25,720 --> 00:18:29,280 Speaker 1: the Beltway. Rick and Genie with us for the hour. 375 00:18:29,320 --> 00:18:31,760 Speaker 1: They'll be back next we consider what the president's second 376 00:18:31,840 --> 00:18:34,480 Speaker 1: year this year will look like with Laura Brown, political 377 00:18:34,560 --> 00:18:38,240 Speaker 1: scientists and director of the Graduate School of Political Management 378 00:18:38,280 --> 00:18:42,040 Speaker 1: at George Washington University. A fascinating conversation ahead, and we'll 379 00:18:42,119 --> 00:18:44,320 Speaker 1: check traffic and markets for you on the way. To 380 00:18:44,560 --> 00:18:46,760 Speaker 1: Stay with us on sound on. I'm Joe Matthew. This 381 00:18:46,920 --> 00:18:54,200 Speaker 1: is Bloomberg broadcasting live from our nation's capital, Bloomberg to 382 00:18:54,359 --> 00:19:00,119 Speaker 1: New York, Bloomberg to Boston, Bloomberg one. This Entrince Go 383 00:19:00,320 --> 00:19:04,320 Speaker 1: Bloomberg nine six to the country, Serious x M General 384 00:19:04,400 --> 00:19:07,439 Speaker 1: one nine team and around the globe, the Bloomberg Business 385 00:19:07,520 --> 00:19:11,960 Speaker 1: app and Bloomberg Radio dot Com. This is Bloomberg Sound 386 00:19:12,040 --> 00:19:17,440 Speaker 1: On with Joe Matthew. A majority of Americans fifty six 387 00:19:17,520 --> 00:19:20,440 Speaker 1: percent disapprove of the job that Joe Biden is doing 388 00:19:20,520 --> 00:19:23,800 Speaker 1: as president, according to new holding from the Associated Press 389 00:19:23,920 --> 00:19:27,760 Speaker 1: NORK Center for Public Affairs Research. These numbers out today, 390 00:19:28,560 --> 00:19:30,480 Speaker 1: and so the President is planning to hit the road 391 00:19:30,560 --> 00:19:32,640 Speaker 1: this year. We'll talk about it next with Laura Brown 392 00:19:32,760 --> 00:19:36,000 Speaker 1: from George Washington University on a special edition of sound On. 393 00:19:36,280 --> 00:19:39,639 Speaker 1: One year later, President Biden's getting the itch to travel, 394 00:19:40,640 --> 00:19:43,720 Speaker 1: which is not uncommon after being locked in the bubble 395 00:19:44,160 --> 00:19:47,159 Speaker 1: for year one. His former boss, Barack Obama said just 396 00:19:47,200 --> 00:19:50,280 Speaker 1: about the same thing around this time, and White House 397 00:19:50,320 --> 00:19:53,440 Speaker 1: Press Secretary Jansaki told reporters today that the President in 398 00:19:53,560 --> 00:19:55,760 Speaker 1: his travels will not be alone. What that looks like 399 00:19:55,840 --> 00:19:59,480 Speaker 1: on the schedule, we're still determining that, um, but it's 400 00:19:59,480 --> 00:20:02,000 Speaker 1: certainly me still see him out on the road more. Uh, 401 00:20:02,119 --> 00:20:04,919 Speaker 1: you'll see him probably bring members of Congress with him 402 00:20:05,400 --> 00:20:08,000 Speaker 1: on Air Force one, as he's done recently, and he's 403 00:20:08,040 --> 00:20:11,000 Speaker 1: really enjoyed the opportunity to be able to have those 404 00:20:11,080 --> 00:20:13,680 Speaker 1: free ranging conversations with them on the back of Air 405 00:20:13,760 --> 00:20:16,520 Speaker 1: Force one, and it means you'll see him talking more 406 00:20:16,560 --> 00:20:18,719 Speaker 1: about his agenda and what he's doing to make people's 407 00:20:18,760 --> 00:20:21,880 Speaker 1: lives better. Well, it helps us sell the message, though 408 00:20:21,960 --> 00:20:24,439 Speaker 1: I guess it's the question certainly with the polling I mentioned, 409 00:20:24,440 --> 00:20:28,200 Speaker 1: the Associated Press Nork Center for Public Affairs Research finds 410 00:20:28,240 --> 00:20:30,520 Speaker 1: fifty six percent of Americans do not approve of the 411 00:20:30,600 --> 00:20:33,840 Speaker 1: job he's doing, and only twenty eight percent say they 412 00:20:33,880 --> 00:20:36,960 Speaker 1: want him to run for re election. This is where 413 00:20:37,040 --> 00:20:40,040 Speaker 1: we begin with Laura Brown, political scientist, director of the 414 00:20:40,080 --> 00:20:44,240 Speaker 1: Graduate School of Political Management at George Washington University. Laura, 415 00:20:44,280 --> 00:20:47,520 Speaker 1: thanks for being here. How much of this weakness is seasonal, 416 00:20:47,680 --> 00:20:49,600 Speaker 1: you know, the end of the first year, the hangover 417 00:20:49,840 --> 00:20:53,840 Speaker 1: versus problems that are exclusive to this Biden White House. Gosh, 418 00:20:53,920 --> 00:20:55,919 Speaker 1: so that's a great question. Let me just start by 419 00:20:56,000 --> 00:20:59,320 Speaker 1: saying thanks for having me on today. I do think 420 00:21:00,040 --> 00:21:03,040 Speaker 1: at when we think about President Biden, what we have 421 00:21:03,160 --> 00:21:06,240 Speaker 1: to realize is, in some ways his presidency looks a 422 00:21:06,320 --> 00:21:09,200 Speaker 1: little bit like the stock market. Right. We've seen some 423 00:21:09,400 --> 00:21:14,760 Speaker 1: tremendous highs, some impressive achievements, but we've also seen some setbacks, 424 00:21:14,960 --> 00:21:22,760 Speaker 1: and it is because obviously not unlike UM the stock market, 425 00:21:23,160 --> 00:21:26,480 Speaker 1: his stock is down this January, and I think that 426 00:21:26,600 --> 00:21:32,040 Speaker 1: that is fair. But it's also true that this administration 427 00:21:32,320 --> 00:21:37,240 Speaker 1: has passed really significant legislation, both the Coronavirus Relief Package 428 00:21:37,800 --> 00:21:42,320 Speaker 1: UM early on and then of course the bipartisan Infrastructure 429 00:21:42,640 --> 00:21:46,760 Speaker 1: deal in the fall. Those are going to continue to 430 00:21:46,920 --> 00:21:50,240 Speaker 1: reap dividends in terms of what it means for the 431 00:21:50,320 --> 00:21:55,000 Speaker 1: American people. They'll see roads under construction, they'll see projects 432 00:21:55,800 --> 00:22:00,480 Speaker 1: being started, and I think that's important for Americans. But really, 433 00:22:01,040 --> 00:22:04,120 Speaker 1: when we look at the numbers, we know that President 434 00:22:04,160 --> 00:22:08,159 Speaker 1: Biden is suffering because of inflation and because of COVID, 435 00:22:09,040 --> 00:22:13,040 Speaker 1: and until both of those things get more under control, 436 00:22:13,560 --> 00:22:16,280 Speaker 1: I think we're not going to see a rebound in 437 00:22:16,560 --> 00:22:20,200 Speaker 1: his approval ratings UM quickly. Well, so you grab the two. 438 00:22:20,359 --> 00:22:22,560 Speaker 1: These are the two issues that this White House hoped 439 00:22:22,640 --> 00:22:24,639 Speaker 1: we would not be talking about, right. These are the 440 00:22:24,720 --> 00:22:27,399 Speaker 1: two things that a president can't really control. I know 441 00:22:27,520 --> 00:22:30,280 Speaker 1: that the this administration has been busy trying to put 442 00:22:30,320 --> 00:22:33,879 Speaker 1: in place UH policies to fight COVID. A lot of 443 00:22:33,960 --> 00:22:35,879 Speaker 1: them have been turned back. The big one was that 444 00:22:35,960 --> 00:22:39,320 Speaker 1: ocean ruling in the Supreme Court just recently. And when 445 00:22:39,359 --> 00:22:41,480 Speaker 1: it comes to inflation, with my goodness, you can only 446 00:22:41,560 --> 00:22:44,320 Speaker 1: defer to the Fed so often. So you just highlighted 447 00:22:44,359 --> 00:22:47,119 Speaker 1: the two issues. Correct me if I'm wrong that this 448 00:22:47,240 --> 00:22:51,440 Speaker 1: president has the least ability to affect well, I think 449 00:22:51,520 --> 00:22:56,840 Speaker 1: that's right. But I also would argue that the conditions 450 00:22:56,920 --> 00:23:01,160 Speaker 1: themselves are really likely to improve over the next year. 451 00:23:01,600 --> 00:23:03,960 Speaker 1: So I do think in some ways he has the 452 00:23:04,000 --> 00:23:07,960 Speaker 1: wind at his back if he can continue to keep 453 00:23:08,359 --> 00:23:13,560 Speaker 1: a consistent message about the reality that jobs are coming back. 454 00:23:14,080 --> 00:23:18,920 Speaker 1: Unemployment has fallen over five percent during his presidency, and 455 00:23:19,440 --> 00:23:23,200 Speaker 1: it's now really about how do we solve the rest 456 00:23:23,280 --> 00:23:28,040 Speaker 1: of the problems in the supply chain and labor shortages 457 00:23:28,359 --> 00:23:31,800 Speaker 1: and all of that will I think continue to shake 458 00:23:31,840 --> 00:23:34,720 Speaker 1: out over this next year. So if we follow though 459 00:23:34,760 --> 00:23:38,359 Speaker 1: your stock market comparison, you're buying the dip in the 460 00:23:38,440 --> 00:23:42,560 Speaker 1: Biden White House. You're right, I am, because I think 461 00:23:42,800 --> 00:23:46,280 Speaker 1: one of the things that is not really sort of 462 00:23:46,600 --> 00:23:50,320 Speaker 1: taken in is that the Republicans are much more divided 463 00:23:50,400 --> 00:23:55,040 Speaker 1: about their future than the Democrats are about theirs. So 464 00:23:55,359 --> 00:23:57,320 Speaker 1: how can you say that because we hear about this 465 00:23:57,480 --> 00:24:02,000 Speaker 1: Nancy Pelosi referred to the Democratic Party to as a kaleidoscope. Uh, 466 00:24:02,600 --> 00:24:05,280 Speaker 1: forget the big tent. We're onto, We're onto new measures 467 00:24:05,359 --> 00:24:08,919 Speaker 1: at this point. And Republicans have been fairly well united 468 00:24:08,960 --> 00:24:11,159 Speaker 1: and at least opposing this administration. What do you have 469 00:24:11,280 --> 00:24:15,040 Speaker 1: in mind? Well, opposition is easy, okay, So it is 470 00:24:15,119 --> 00:24:19,359 Speaker 1: easy for Republicans to stand united in opposition to Biden 471 00:24:19,520 --> 00:24:23,040 Speaker 1: and the Democrats. It is very difficult once they get 472 00:24:23,119 --> 00:24:28,360 Speaker 1: into their own primary campaigns, and we see former President 473 00:24:28,440 --> 00:24:33,360 Speaker 1: Trump and UM Minority Leader Mitch McConnell and Minority Leader 474 00:24:33,440 --> 00:24:38,600 Speaker 1: Kevin McCarthy starting to endorse different candidates and backing different 475 00:24:38,760 --> 00:24:43,760 Speaker 1: perspectives about the future of the Republican Party. That argument 476 00:24:43,880 --> 00:24:47,159 Speaker 1: has yet to break into the open, and it is coming. 477 00:24:47,840 --> 00:24:52,640 Speaker 1: Whereas Democrats may differ on policies, they are not going 478 00:24:52,800 --> 00:24:56,760 Speaker 1: to differ on personnel. And I think this is where 479 00:24:57,440 --> 00:25:02,679 Speaker 1: UM we're likely headed towards a much more raucous election 480 00:25:03,000 --> 00:25:06,280 Speaker 1: season than I think many are expecting. But you still 481 00:25:06,320 --> 00:25:09,800 Speaker 1: could have some very angry progressives right who are being 482 00:25:10,320 --> 00:25:14,360 Speaker 1: challenged or even if they're re elected. That progressive moderate 483 00:25:14,840 --> 00:25:17,120 Speaker 1: problem that we have right now in the Democratic Party 484 00:25:17,400 --> 00:25:21,600 Speaker 1: could also be amplified by the campaign season. It could, 485 00:25:22,040 --> 00:25:25,920 Speaker 1: but it does seem to me that Democrats have sort 486 00:25:25,960 --> 00:25:30,560 Speaker 1: of more strategy about how they are going to approach candidates. 487 00:25:30,640 --> 00:25:34,720 Speaker 1: I think the most difficult part for for Democrats is 488 00:25:34,800 --> 00:25:37,960 Speaker 1: they've got a lot of senior House members who have 489 00:25:38,080 --> 00:25:42,800 Speaker 1: decided to already retire, and that's where those vacant seats 490 00:25:42,920 --> 00:25:46,760 Speaker 1: are going to pose pickup opportunities for Republicans. So what's 491 00:25:46,760 --> 00:25:49,600 Speaker 1: your counterintuitive view here on on the outcome? Do you 492 00:25:49,800 --> 00:25:52,440 Speaker 1: do you believe, like most that we follow history, Democrats 493 00:25:52,520 --> 00:25:55,240 Speaker 1: lose Capitol Hill or at least the House. Well, I 494 00:25:55,320 --> 00:25:59,080 Speaker 1: assume that the Republicans have the advantage in terms of history, 495 00:25:59,119 --> 00:26:01,680 Speaker 1: there is no doubt about that. But I think it's 496 00:26:01,680 --> 00:26:04,440 Speaker 1: also important to realize that Republicans picked up a lot 497 00:26:04,520 --> 00:26:09,080 Speaker 1: of seats in so there are opportunities may not be 498 00:26:09,240 --> 00:26:14,080 Speaker 1: as great as say they were in in and this 499 00:26:14,400 --> 00:26:17,880 Speaker 1: is where we could end up with. UM. I think 500 00:26:18,320 --> 00:26:23,080 Speaker 1: many fewer pickups on the Republican side than the current 501 00:26:23,160 --> 00:26:27,760 Speaker 1: market is pricing in Democrats keep the Senate. UM. You know, 502 00:26:27,880 --> 00:26:29,879 Speaker 1: I think that's all going to depend on who the 503 00:26:29,960 --> 00:26:33,080 Speaker 1: candidates are in those purple states, and we need to 504 00:26:33,119 --> 00:26:35,440 Speaker 1: figure that out. But looking forward to talking with you. 505 00:26:35,600 --> 00:26:38,639 Speaker 1: Laura Brown, political scientist, director of the Grad School of 506 00:26:38,680 --> 00:26:44,199 Speaker 1: Political Management at GW University. Great conversation and interesting insights, 507 00:26:44,240 --> 00:26:46,600 Speaker 1: A lot to think about it. Will reassemble the panel next. 508 00:26:46,680 --> 00:26:49,840 Speaker 1: Genie and Rick are ahead on sound on This is Bloomberg. 509 00:26:53,400 --> 00:26:58,800 Speaker 1: This is Bloomberg sond on with Joe Matthew on Bloomberg Radio. 510 00:27:01,320 --> 00:27:04,080 Speaker 1: Could Joe Mansion end up being the one who saves 511 00:27:04,200 --> 00:27:07,719 Speaker 1: the new year for President Biden? That's how politics work, right, 512 00:27:08,760 --> 00:27:10,959 Speaker 1: opponent one day from the next. I bring it up 513 00:27:11,080 --> 00:27:13,960 Speaker 1: as progressive Democrats take aim. Have you been on Twitter today? 514 00:27:13,960 --> 00:27:17,639 Speaker 1: They're just they're killing Mansion and Senator kirston cinema, some 515 00:27:17,800 --> 00:27:20,959 Speaker 1: of them elected officials for blocking the attempt to kill 516 00:27:21,000 --> 00:27:23,560 Speaker 1: the philipbus to last night to pass voting rights legislation. 517 00:27:23,640 --> 00:27:25,960 Speaker 1: That's just the latest in the line. Speaker Nancy Pelosi 518 00:27:26,040 --> 00:27:28,560 Speaker 1: today though, briefing reporters is that's not the right move, 519 00:27:28,680 --> 00:27:31,200 Speaker 1: not right now. People will say what they're going to say. 520 00:27:31,280 --> 00:27:33,919 Speaker 1: I have not encouraged that. In fact, I have discouraged 521 00:27:34,000 --> 00:27:38,639 Speaker 1: it because we are a giant kaleidoscope here, Democrats and Republicans. 522 00:27:38,800 --> 00:27:40,960 Speaker 1: You never know who's going to be in the design 523 00:27:41,359 --> 00:27:44,399 Speaker 1: of the next bill. Uh, and and so we have 524 00:27:44,520 --> 00:27:49,720 Speaker 1: to be respectful. But I I've not I've discouraged people 525 00:27:49,800 --> 00:27:53,760 Speaker 1: from making comments about them a giant kaleidoscope. I guess 526 00:27:53,800 --> 00:27:55,680 Speaker 1: you was talking about everybody there to be fair. I 527 00:27:55,960 --> 00:27:59,400 Speaker 1: referred to that earlier in our conversation with Laura. Let's 528 00:27:59,400 --> 00:28:03,320 Speaker 1: reassemble the panel. Bloomberg Politics contributors Gene Chanzano, Rick Davis 529 00:28:03,480 --> 00:28:05,199 Speaker 1: with us here. Isn't that the way this goes? Rick? 530 00:28:05,240 --> 00:28:09,359 Speaker 1: Should should President Biden keep you know, friends close, enemies 531 00:28:09,400 --> 00:28:11,679 Speaker 1: closer when it comes to passing anything. If it's going 532 00:28:11,720 --> 00:28:13,800 Speaker 1: to be any movement this year, he's still gonna need 533 00:28:14,359 --> 00:28:17,119 Speaker 1: these two senators. He's gonna need those two senators to 534 00:28:17,200 --> 00:28:19,520 Speaker 1: get anything done. And there are things that he can 535 00:28:19,680 --> 00:28:22,480 Speaker 1: get done. Uh. The most pressing thing or less than 536 00:28:22,520 --> 00:28:24,480 Speaker 1: a month now, the budget is going to be up, 537 00:28:24,800 --> 00:28:27,879 Speaker 1: the continuing a resolution will expire, and and he'd like 538 00:28:28,000 --> 00:28:31,800 Speaker 1: to get an omnibus bill that has some extra defense 539 00:28:31,840 --> 00:28:35,000 Speaker 1: spending and maybe some extra domestic spending. So that could 540 00:28:35,040 --> 00:28:37,840 Speaker 1: be a nice little recovery from his current doldrums. But 541 00:28:37,920 --> 00:28:40,080 Speaker 1: I really don't think that he should be thinking about 542 00:28:40,120 --> 00:28:43,880 Speaker 1: the success of his presidency now lies in Congress. The 543 00:28:43,960 --> 00:28:48,640 Speaker 1: success of his presidency is going to lie on the economy, jobs, 544 00:28:49,080 --> 00:28:51,520 Speaker 1: and foreign policy, and none of those things require a 545 00:28:51,600 --> 00:28:54,960 Speaker 1: lot of Congressional support. What do you make of that scenario, Genie, 546 00:28:55,080 --> 00:28:57,200 Speaker 1: that you can imagine a world in which President Biden, 547 00:28:57,320 --> 00:28:59,800 Speaker 1: Joe Mansion, and I don't know, Kursten Cinema or out 548 00:28:59,840 --> 00:29:01,880 Speaker 1: there at the stake out the driveway in front of 549 00:29:01,920 --> 00:29:04,360 Speaker 1: the rest wing saying we have a deal on an 550 00:29:04,400 --> 00:29:07,240 Speaker 1: omnibus and it includes a new stimulus or whatever that 551 00:29:07,360 --> 00:29:10,720 Speaker 1: might be, child tax care credit, whatever it is. Stranger 552 00:29:10,840 --> 00:29:13,640 Speaker 1: things has have happened. I think it could very well happen. 553 00:29:13,800 --> 00:29:16,440 Speaker 1: I think it is I agree with Nancy Pelosi. It 554 00:29:16,560 --> 00:29:19,840 Speaker 1: is understandable that Democrats are frustrated, but they've also got 555 00:29:19,920 --> 00:29:22,720 Speaker 1: to understand they would not have the Senate at all 556 00:29:22,840 --> 00:29:25,800 Speaker 1: without those two individuals. And there's almost nobody in either 557 00:29:25,880 --> 00:29:28,760 Speaker 1: of those states that are Democrats beyond those two that 558 00:29:28,840 --> 00:29:31,680 Speaker 1: could win those seats. So you know, that is the reality. 559 00:29:31,800 --> 00:29:35,480 Speaker 1: If they want more power, they've got to win more elections. 560 00:29:35,840 --> 00:29:38,800 Speaker 1: And beyond that, the president is going to have to 561 00:29:39,440 --> 00:29:42,040 Speaker 1: do what Barack Obama said to do you've got to 562 00:29:42,160 --> 00:29:44,080 Speaker 1: use the pen, you've got to use the phone. We 563 00:29:44,120 --> 00:29:47,120 Speaker 1: should see some executive actions out of him. He's going 564 00:29:47,200 --> 00:29:50,360 Speaker 1: to have to try to use what limited power he 565 00:29:50,560 --> 00:29:54,320 Speaker 1: has with executive actions and the power to persuade to 566 00:29:54,440 --> 00:29:56,800 Speaker 1: get out and get as much as he can done 567 00:29:57,320 --> 00:30:00,160 Speaker 1: in this next year. And I think he can at 568 00:30:00,240 --> 00:30:03,240 Speaker 1: some small winds, and he talked about that a bit yesterday. 569 00:30:03,520 --> 00:30:05,800 Speaker 1: I think he should focus on that as we move 570 00:30:05,880 --> 00:30:08,640 Speaker 1: forward to your point wreck the piece that Josh wind 571 00:30:08,640 --> 00:30:10,440 Speaker 1: Grove and Nancy Cook wrote that we talked about the 572 00:30:10,520 --> 00:30:12,920 Speaker 1: beginning of the hour. They say there are events that 573 00:30:13,000 --> 00:30:16,440 Speaker 1: could turn things around for Biden, namely of falling COVID cases, 574 00:30:16,760 --> 00:30:20,960 Speaker 1: easing inflation, and a continued rebound of the economy. Those 575 00:30:21,000 --> 00:30:23,200 Speaker 1: are the three most elusive things for this president, are 576 00:30:23,240 --> 00:30:26,479 Speaker 1: they not. I don't know if they're the most elusive, um, 577 00:30:26,720 --> 00:30:28,600 Speaker 1: but I would say those are the things. I agree 578 00:30:28,680 --> 00:30:31,840 Speaker 1: with that that those would help booie his his administration 579 00:30:32,000 --> 00:30:35,640 Speaker 1: and his job. Approval numbers between now and two right 580 00:30:35,880 --> 00:30:38,000 Speaker 1: as opposed to getting a bill passed though or signing 581 00:30:38,040 --> 00:30:40,120 Speaker 1: a piece of paper, I mean COVID this is a 582 00:30:40,240 --> 00:30:43,600 Speaker 1: global pandemic. Joe Biden isn't going to fix that on 583 00:30:43,720 --> 00:30:46,640 Speaker 1: his own, that's right. And and yet those things he 584 00:30:46,720 --> 00:30:49,040 Speaker 1: has to rely upon because you know, he's set out 585 00:30:49,120 --> 00:30:51,200 Speaker 1: to fix it and he realized it's a lot harder 586 00:30:51,280 --> 00:30:54,080 Speaker 1: to do. He didn't set out to create inflation, and 587 00:30:54,200 --> 00:30:56,080 Speaker 1: that's another one that he's got to get under control. 588 00:30:56,160 --> 00:30:59,440 Speaker 1: So those things are not easily managed by him, but 589 00:30:59,520 --> 00:31:01,320 Speaker 1: he has to lie on the fates of the gods 590 00:31:01,400 --> 00:31:04,600 Speaker 1: politically to get some support for those things not becoming 591 00:31:04,680 --> 00:31:06,440 Speaker 1: as big an issue a year from now as they 592 00:31:06,480 --> 00:31:09,160 Speaker 1: are today. So that's where we are. Genie, you're praying 593 00:31:09,200 --> 00:31:12,520 Speaker 1: to God for your two If you're Joe Biden, you are. 594 00:31:12,800 --> 00:31:16,560 Speaker 1: And he had some real successes in the pandemic, and yet, 595 00:31:16,960 --> 00:31:19,520 Speaker 1: as Rick was just talking about, there's events that he 596 00:31:19,720 --> 00:31:22,280 Speaker 1: can't control. But you know, just look at the vaccination 597 00:31:22,400 --> 00:31:24,160 Speaker 1: number that he talked about at the top of the 598 00:31:24,360 --> 00:31:27,680 Speaker 1: press conference yesterday. That is a very impressive thing he 599 00:31:27,840 --> 00:31:30,440 Speaker 1: was able to do. As was that was the amount 600 00:31:30,480 --> 00:31:32,360 Speaker 1: of money he was able to get Congress to pass 601 00:31:32,480 --> 00:31:35,440 Speaker 1: to invest. So he's had some success there, but there's 602 00:31:35,440 --> 00:31:37,480 Speaker 1: going to have to be more. And of course inflation 603 00:31:37,640 --> 00:31:40,480 Speaker 1: is intimately tied to his ability to handle the pandemic. 604 00:31:41,200 --> 00:31:44,160 Speaker 1: The February eighteenth deadline that you mentioned, Rick is a 605 00:31:44,200 --> 00:31:47,320 Speaker 1: big one. Uh. Do we see another continuing resolution while 606 00:31:47,360 --> 00:31:49,800 Speaker 1: they work on something larger? Are you actually hearing from 607 00:31:50,040 --> 00:31:52,720 Speaker 1: your sources that we we get a real budget. Yeah. 608 00:31:52,800 --> 00:31:56,240 Speaker 1: My friends in the appropriations process are anxious to get 609 00:31:56,280 --> 00:31:59,520 Speaker 1: a budget. They don't want to go through a continuing 610 00:31:59,600 --> 00:32:02,560 Speaker 1: resolute And again they'd love to get a number that 611 00:32:02,720 --> 00:32:06,120 Speaker 1: the administration and Congress can sign off on and then 612 00:32:06,400 --> 00:32:08,400 Speaker 1: put that into an omnibus and then work it out 613 00:32:08,440 --> 00:32:10,960 Speaker 1: for the rest of the years. So it's it's achievable. 614 00:32:11,320 --> 00:32:17,440 Speaker 1: And the congressional leadership bipartisan uh, and the appropriations committing 615 00:32:17,480 --> 00:32:20,520 Speaker 1: the Senate already already working towards that end. So I 616 00:32:20,520 --> 00:32:22,640 Speaker 1: wouldn't count them out just now. If there is a 617 00:32:22,720 --> 00:32:26,440 Speaker 1: continuing resolution, hopefully for their purposes, it would only be 618 00:32:26,520 --> 00:32:29,840 Speaker 1: a very short short gap until they get their work done. 619 00:32:30,000 --> 00:32:32,320 Speaker 1: It would be a refreshing moment. Jeanie, what would be 620 00:32:32,400 --> 00:32:34,440 Speaker 1: the top one or two things? Though? If you're Joe 621 00:32:34,520 --> 00:32:36,600 Speaker 1: Biden that you want to try to attach to that 622 00:32:36,680 --> 00:32:40,200 Speaker 1: amni bus? Would it be universal pre k something people 623 00:32:40,240 --> 00:32:42,720 Speaker 1: can agree on. I think it should be something that 624 00:32:42,840 --> 00:32:45,160 Speaker 1: you can get bipartisan support on that people agree on. 625 00:32:45,280 --> 00:32:47,200 Speaker 1: Universal pre K is a good one because it is 626 00:32:47,280 --> 00:32:49,920 Speaker 1: something that the other Joe supports because he has it 627 00:32:50,040 --> 00:32:53,040 Speaker 1: in his state. That's right. What do you think about that, Rick, 628 00:32:53,160 --> 00:32:55,520 Speaker 1: is it is a free community college something that fell 629 00:32:55,560 --> 00:32:57,920 Speaker 1: off the table in year one. I think there are 630 00:32:57,960 --> 00:33:01,320 Speaker 1: two things to um, things that are acceptable to both 631 00:33:01,640 --> 00:33:04,680 Speaker 1: uh Mansion and Cinema, both on the revenue side and 632 00:33:04,800 --> 00:33:07,080 Speaker 1: on the program side, but that it can also get 633 00:33:07,160 --> 00:33:11,040 Speaker 1: Republican support and those things. It's a short list. But again, 634 00:33:11,640 --> 00:33:14,720 Speaker 1: the success of your administration is not the hail Mary 635 00:33:14,880 --> 00:33:17,360 Speaker 1: passed to Congress. I mean, he should tell the leaders, 636 00:33:17,400 --> 00:33:19,440 Speaker 1: if you've got stuff that is over the top that 637 00:33:19,520 --> 00:33:21,880 Speaker 1: you want to do, fine, I'll sign it. You work 638 00:33:21,920 --> 00:33:23,280 Speaker 1: on it, and get it to me when you've got 639 00:33:23,360 --> 00:33:26,160 Speaker 1: it done. But if he could get a bipartisan budget passed, 640 00:33:26,560 --> 00:33:29,440 Speaker 1: get rid of the Trump budget that he's currently working under, 641 00:33:29,800 --> 00:33:32,680 Speaker 1: that would be seen as a good successful legislat government 642 00:33:32,880 --> 00:33:35,480 Speaker 1: work between now and election day, and he needs that 643 00:33:35,640 --> 00:33:39,280 Speaker 1: competence restored in his administration. Neither of you have mentioned 644 00:33:39,320 --> 00:33:41,000 Speaker 1: foreign policy, and I know where there are a lot 645 00:33:41,040 --> 00:33:43,280 Speaker 1: of different things we could talk about, but in our 646 00:33:43,400 --> 00:33:46,240 Speaker 1: our remaining thirty seconds. Genie, how important will Russia and 647 00:33:46,360 --> 00:33:49,880 Speaker 1: China be to making this a successfully year? Critically important, 648 00:33:50,120 --> 00:33:53,040 Speaker 1: you know, if he has a if Russia invades, depending 649 00:33:53,120 --> 00:33:56,120 Speaker 1: on how he responds, if anything happens in Taiwan, and 650 00:33:56,200 --> 00:33:58,800 Speaker 1: all of the unexpected things that can happen, it could 651 00:33:58,840 --> 00:34:01,440 Speaker 1: really up end his present dancy or he can you know, 652 00:34:01,600 --> 00:34:04,440 Speaker 1: handle it powerfully and it could be a positive thing 653 00:34:04,520 --> 00:34:06,440 Speaker 1: for him. But so much out of his control in 654 00:34:06,480 --> 00:34:09,680 Speaker 1: the foreign policy arena, that's for sure. We're talking largely 655 00:34:09,719 --> 00:34:12,000 Speaker 1: about issues out of his control here. Big thanks to 656 00:34:12,080 --> 00:34:15,160 Speaker 1: Jeanie Sheanzano and Rick Davis as always well, we survived 657 00:34:15,200 --> 00:34:17,719 Speaker 1: the first year, and they're gonna be with us for 658 00:34:17,800 --> 00:34:19,560 Speaker 1: the second one, I tell you, But this is the 659 00:34:19,640 --> 00:34:25,919 Speaker 1: day that we think back on where we've been. God knows, 660 00:34:26,040 --> 00:34:29,920 Speaker 1: we've been through a lot this year. Today we're finally 661 00:34:30,080 --> 00:34:34,720 Speaker 1: getting this done. So my message to the American people 662 00:34:34,840 --> 00:34:38,239 Speaker 1: is this America is moving again and your life is 663 00:34:38,280 --> 00:34:41,040 Speaker 1: going to change for the better. Now. President Biden enswers 664 00:34:41,120 --> 00:34:44,200 Speaker 1: his second year in office facing a cascade of perils 665 00:34:44,280 --> 00:34:52,920 Speaker 1: at home and overseas. When I was seventy, it was 666 00:34:53,120 --> 00:34:57,760 Speaker 1: a very good year. My dad used to say, Joey, 667 00:34:58,040 --> 00:35:00,399 Speaker 1: a job is about a lot more than a a check. 668 00:35:01,239 --> 00:35:05,680 Speaker 1: It's about your dignity, It's about respect. I, Joseph Robinette 669 00:35:05,719 --> 00:35:10,120 Speaker 1: Biden Jr. Do solemnly swear Joseph Robinette Biden Junior, do 670 00:35:10,280 --> 00:35:17,280 Speaker 1: solimn swearhard from and man that I liked that fifty 671 00:35:17,360 --> 00:35:21,279 Speaker 1: seven forward fairlyte so it got me through school. That 672 00:35:21,440 --> 00:35:25,279 Speaker 1: I will faithfully execute that I will faithfully execute the 673 00:35:25,400 --> 00:35:28,840 Speaker 1: office of President of the United States, office of President 674 00:35:28,880 --> 00:35:32,839 Speaker 1: of the United States. Oh warrior, It's not a Kumbaya moment, 675 00:35:32,920 --> 00:35:34,719 Speaker 1: as he used to say back in the sixties and 676 00:35:34,840 --> 00:35:37,680 Speaker 1: United States like, let's hug and love each other. But 677 00:35:37,800 --> 00:35:41,200 Speaker 1: it's clearly not in anybody's interest. Your countries are mine 678 00:35:41,520 --> 00:35:43,759 Speaker 1: for us to be in a situation where we're in 679 00:35:43,840 --> 00:35:46,879 Speaker 1: a new Cold war and I was what you want 680 00:35:47,000 --> 00:35:49,120 Speaker 1: And the bottom line is the viruses on the run 681 00:35:49,840 --> 00:35:53,600 Speaker 1: and America is coming back. It was a very good 682 00:35:53,800 --> 00:35:57,279 Speaker 1: year coming back together. The President's been doing this a while. 683 00:35:57,480 --> 00:36:01,600 Speaker 1: It was a very good thirty six years. In the Senate, 684 00:36:01,680 --> 00:36:05,719 Speaker 1: With all due respect, Mr Manson is opposed to that, 685 00:36:06,560 --> 00:36:10,480 Speaker 1: as is uh. I think Senator Cinema is opposed to 686 00:36:10,520 --> 00:36:13,120 Speaker 1: all of them opposed to all three. He does have 687 00:36:13,440 --> 00:36:19,200 Speaker 1: the buy in um from his caucus here in the House. Uh. 688 00:36:19,360 --> 00:36:22,399 Speaker 1: And you know, I do hope that these senators are 689 00:36:22,440 --> 00:36:25,839 Speaker 1: actually going to be on board with the framework. Joe 690 00:36:25,960 --> 00:36:27,800 Speaker 1: is not a bad guy, and he's a friend, and 691 00:36:27,880 --> 00:36:29,880 Speaker 1: he's always the end of the day, come around and 692 00:36:30,000 --> 00:36:33,200 Speaker 1: voted what I see our show games budget gimmicks that 693 00:36:33,280 --> 00:36:35,640 Speaker 1: make the real cost of the so called one point 694 00:36:35,800 --> 00:36:41,200 Speaker 1: seven five trillion dollar bill estimated to be almost twice 695 00:36:41,640 --> 00:36:45,000 Speaker 1: that amount. Some people may call what's happening now the 696 00:36:45,080 --> 00:36:49,120 Speaker 1: new norm. I call it a job not yet finished. 697 00:36:50,360 --> 00:36:54,799 Speaker 1: The days are sure. So help you, God, So help 698 00:36:54,880 --> 00:36:59,399 Speaker 1: me God. Congratulations, Mr President. The only thing I don't 699 00:36:59,480 --> 00:37:02,880 Speaker 1: like about having secret Service back, I can't drive my 700 00:37:03,080 --> 00:37:11,400 Speaker 1: fast cars anymore. Thing of my life. He was candidate, 701 00:37:11,520 --> 00:37:14,239 Speaker 1: and he was candidate about where the negotiations stood. The 702 00:37:14,360 --> 00:37:17,719 Speaker 1: presidents will defend his record and record so far at 703 00:37:17,760 --> 00:37:20,640 Speaker 1: a news can for instance today, I did not anticipate 704 00:37:21,120 --> 00:37:25,400 Speaker 1: that there'd be such a stalwart effort to make sure 705 00:37:25,960 --> 00:37:29,439 Speaker 1: that the most important thing was that President Biden didn't 706 00:37:29,440 --> 00:37:35,279 Speaker 1: get anything done. Yeah, the poles are going to go 707 00:37:35,480 --> 00:37:37,640 Speaker 1: up and down and up and down. There are high 708 00:37:37,680 --> 00:37:39,920 Speaker 1: early than they got medium that they're back up, and 709 00:37:39,960 --> 00:37:42,840 Speaker 1: now they're low. Well look this is Look look at 710 00:37:42,880 --> 00:37:45,040 Speaker 1: every other presidents. The same thing has happened. But that's 711 00:37:45,080 --> 00:37:49,759 Speaker 1: not where I ran. I didn't over promise and what 712 00:37:49,920 --> 00:37:53,600 Speaker 1: I have probably uh, I'll perform what anybody thought would happen. 713 00:37:55,920 --> 00:37:57,040 Speaker 1: This is Bloomberg