1 00:00:02,520 --> 00:00:10,119 Speaker 1: Bloomberg Audio Studios, podcasts, radio news. You're listening to the 2 00:00:10,119 --> 00:00:13,880 Speaker 1: Bloomberg Balance of Power podcast. Catch us live weekdays at 3 00:00:13,920 --> 00:00:17,119 Speaker 1: noon and five pm Eastern on Apple, Cockley and Android 4 00:00:17,160 --> 00:00:20,560 Speaker 1: Auto with the Bloomberg Business App. Listen on demand wherever 5 00:00:20,600 --> 00:00:24,120 Speaker 1: you get your podcasts, or watch us live on YouTube. 6 00:00:25,239 --> 00:00:28,200 Speaker 2: We're going to start in the UK, where President Trump 7 00:00:28,240 --> 00:00:30,680 Speaker 2: and the First Lady are now embarking on a full 8 00:00:30,800 --> 00:00:33,879 Speaker 2: day of pomp and circumstance, having arrived last evening for 9 00:00:33,920 --> 00:00:38,600 Speaker 2: an unprecedented second state visit. Traveling with the President, Bloomberg's 10 00:00:38,600 --> 00:00:41,520 Speaker 2: and Marie Hordern who joins us from Windsor Castle and Marie, 11 00:00:41,520 --> 00:00:42,400 Speaker 2: how's it going so far? 12 00:00:45,600 --> 00:00:46,319 Speaker 3: Well, there's been a. 13 00:00:46,240 --> 00:00:48,760 Speaker 4: Lot of pumping circumstances, as you say, Joe, A ton 14 00:00:48,840 --> 00:00:53,200 Speaker 4: of theater on display today, between a flyover, a lunch 15 00:00:53,320 --> 00:00:55,720 Speaker 4: in with the royal family, as well as laying a 16 00:00:55,760 --> 00:00:58,400 Speaker 4: wreath at the tomb of late Queen Elizabeth, who, of 17 00:00:58,400 --> 00:01:01,400 Speaker 4: course the President met on his first state visit to 18 00:01:01,520 --> 00:01:05,520 Speaker 4: United Kingdom in twenty nineteen. Before departing, the President did 19 00:01:05,600 --> 00:01:10,160 Speaker 4: say outside the White House that it is unpresidented that 20 00:01:10,240 --> 00:01:13,200 Speaker 4: he got this honor to come back to United Kingdom 21 00:01:13,280 --> 00:01:15,960 Speaker 4: for a state visit. He also talked about how last 22 00:01:16,000 --> 00:01:18,760 Speaker 4: time it was at Buckingham Palace at a center of London, 23 00:01:19,000 --> 00:01:21,679 Speaker 4: and this time it's outside the city in Windsor, and 24 00:01:21,720 --> 00:01:24,560 Speaker 4: he called the setting really the ultimate setting. So the 25 00:01:24,600 --> 00:01:27,560 Speaker 4: President is very excited about this visit. He said he 26 00:01:27,600 --> 00:01:30,280 Speaker 4: was going to visit his friend, saying that he has 27 00:01:30,360 --> 00:01:34,800 Speaker 4: had a decades long relationship with King Charles. We should 28 00:01:34,840 --> 00:01:38,520 Speaker 4: also note that slowly the state visit will start to 29 00:01:38,560 --> 00:01:42,880 Speaker 4: feel a little bit more substantive on the economic business front. 30 00:01:42,959 --> 00:01:46,360 Speaker 4: This evening, when the President attends the banquet, he's going 31 00:01:46,400 --> 00:01:50,280 Speaker 4: to be flanked by a number of American executives, the 32 00:01:50,400 --> 00:01:55,000 Speaker 4: likes of Larry Fink, tech executives like Jensen Wang. Notably 33 00:01:55,160 --> 00:01:57,840 Speaker 4: reports that Tim Cook of Apple also going to be 34 00:01:57,880 --> 00:02:01,040 Speaker 4: one of those individuals attending the state banquet at Windsor 35 00:02:01,160 --> 00:02:05,000 Speaker 4: Castle today. That is really notable because of course he 36 00:02:05,240 --> 00:02:07,600 Speaker 4: was absent when the President made that trip to the 37 00:02:07,600 --> 00:02:10,360 Speaker 4: Middle East, and the President made sure everyone was aware, 38 00:02:10,520 --> 00:02:12,919 Speaker 4: kept bringing it up that Tim Cook did not join 39 00:02:13,000 --> 00:02:14,720 Speaker 4: him on that stay visit. He's going to be there 40 00:02:14,880 --> 00:02:17,000 Speaker 4: for this evening and then of course tomorrow we'll be 41 00:02:17,000 --> 00:02:21,560 Speaker 4: sitting down with Prime Minister Keir Starmer, where there'll be 42 00:02:21,639 --> 00:02:24,760 Speaker 4: a lot more discussions about a host of issues. 43 00:02:26,000 --> 00:02:29,280 Speaker 5: An Marie, outside of the agenda that you've just laid out, 44 00:02:29,280 --> 00:02:31,920 Speaker 5: Outside of the very warm welcome that we were just 45 00:02:31,919 --> 00:02:34,680 Speaker 5: showing our television audience and our YouTube audience on the 46 00:02:34,720 --> 00:02:39,400 Speaker 5: screen there, he wasn't necessarily welcomed just with that. There 47 00:02:39,400 --> 00:02:41,799 Speaker 5: were plenty of protests, I believe on the scene as well. 48 00:02:41,800 --> 00:02:43,160 Speaker 5: Walk us through what we know there. 49 00:02:46,120 --> 00:02:46,280 Speaker 6: Well. 50 00:02:46,360 --> 00:02:49,280 Speaker 4: Last night, what we saw projected onto the walls of 51 00:02:49,360 --> 00:02:54,080 Speaker 4: Windsor Council this eleventh century castle was a photo of 52 00:02:54,160 --> 00:02:58,679 Speaker 4: President Donald Trump and the late sex offender Jeffrey Epstein. 53 00:02:58,840 --> 00:03:01,720 Speaker 4: There was also protesters that had a tennis court size 54 00:03:01,760 --> 00:03:06,280 Speaker 4: banner outside the castle of the two as well. So 55 00:03:06,600 --> 00:03:10,680 Speaker 4: there have been moments of protests and individuals using pictures 56 00:03:10,680 --> 00:03:13,760 Speaker 4: to protest for the President of United States coming here, 57 00:03:14,560 --> 00:03:17,959 Speaker 4: especially with a hot topic in the United Kingdom such 58 00:03:18,000 --> 00:03:21,359 Speaker 4: as Jeffrey Epstein. Given the fact that the third departure 59 00:03:21,560 --> 00:03:25,800 Speaker 4: in just two weeks was British Ambassador to the United States, 60 00:03:25,880 --> 00:03:30,640 Speaker 4: Lord Peter Mandelson, after the revelations in Bloomberg News emails 61 00:03:30,840 --> 00:03:35,040 Speaker 4: about his close relationship with Jeffrey Epstein, so this can 62 00:03:35,200 --> 00:03:38,320 Speaker 4: make quite an awkward moment of course, as well as 63 00:03:38,400 --> 00:03:43,280 Speaker 4: Jeffrey Epstein's relationship with as well one of the individuals 64 00:03:43,880 --> 00:03:47,080 Speaker 4: Andrew in the royal family. But we should also note, 65 00:03:47,080 --> 00:03:50,160 Speaker 4: because I've been outside the castle the entire day, there 66 00:03:50,160 --> 00:03:54,080 Speaker 4: also have been individuals here excited for President Trump to visit. 67 00:03:54,160 --> 00:03:56,440 Speaker 4: So it has been a mixed bag. I saw a 68 00:03:56,480 --> 00:04:00,200 Speaker 4: lot of Make America Great Again, had other hat that 69 00:04:00,240 --> 00:04:03,080 Speaker 4: said Trump was right about everything in T shirts, some 70 00:04:03,200 --> 00:04:07,240 Speaker 4: dogs walking around with MAGA wear as well, So I 71 00:04:07,280 --> 00:04:10,880 Speaker 4: would say there has been some mixed responses right outside 72 00:04:10,960 --> 00:04:11,840 Speaker 4: the castle gates. 73 00:04:13,000 --> 00:04:15,520 Speaker 2: Well, that's a fair reporting, Anne, Mary, just quickly, do 74 00:04:15,560 --> 00:04:17,520 Speaker 2: we know if there's going to be a bilateral news conference? 75 00:04:17,520 --> 00:04:20,280 Speaker 2: Are these two going to say questions from the media tomorrow? 76 00:04:20,520 --> 00:04:23,080 Speaker 2: There was some concerns that Epstein would be a featured topic. 77 00:04:23,640 --> 00:04:24,799 Speaker 2: Do we know if that'll happen. 78 00:04:27,760 --> 00:04:28,280 Speaker 3: Well, at the. 79 00:04:28,160 --> 00:04:31,279 Speaker 4: Moment, we are expecting both of these leaders, Prime Minister 80 00:04:31,360 --> 00:04:34,640 Speaker 4: Cure Starmer and President Donald Trump to address the press 81 00:04:34,680 --> 00:04:38,279 Speaker 4: tomorrow after they have a bilateral meeting at the Prime 82 00:04:38,320 --> 00:04:42,719 Speaker 4: Minister's country estate and checkers. We should note the President 83 00:04:42,800 --> 00:04:47,560 Speaker 4: is walking into a very different political environment right now 84 00:04:47,600 --> 00:04:51,280 Speaker 4: in the United Kingdom. Then it was seven months ago 85 00:04:51,600 --> 00:04:55,880 Speaker 4: when Kure Starmer visited Washington, DC and handed the President 86 00:04:56,240 --> 00:04:59,760 Speaker 4: this letter from King Charles inviting him on this unpresidented state. 87 00:05:00,760 --> 00:05:03,080 Speaker 4: You have a Prime Minister who has been dealt a 88 00:05:03,200 --> 00:05:05,760 Speaker 4: number of blows over the course of the last two weeks. 89 00:05:06,000 --> 00:05:09,080 Speaker 4: He is absolutely floundering in the polls. One recent new 90 00:05:09,160 --> 00:05:12,240 Speaker 4: GOP poll has his favorability just at twenty two percent, 91 00:05:12,400 --> 00:05:15,400 Speaker 4: one of the worst favorabilities we have in all of 92 00:05:15,480 --> 00:05:19,159 Speaker 4: Western European leaders. So he is really struggling right now. 93 00:05:19,200 --> 00:05:21,400 Speaker 4: So for Keir Starmer, couldn't have been a worse time 94 00:05:21,760 --> 00:05:24,000 Speaker 4: for this state and visit to happen, even though seven 95 00:05:24,000 --> 00:05:26,720 Speaker 4: months ago a lot of onlookers were saying, look, this 96 00:05:26,839 --> 00:05:30,520 Speaker 4: was a very clever diplomatic move for the UK government 97 00:05:30,600 --> 00:05:33,159 Speaker 4: to pull out, because what happened after that the United 98 00:05:33,279 --> 00:05:34,840 Speaker 4: Kingdom was jumped to the top of the queu. When 99 00:05:34,880 --> 00:05:37,240 Speaker 4: it comes to the trade relationship, I was in the 100 00:05:37,279 --> 00:05:39,760 Speaker 4: Oval Office in May when the President was on speaker 101 00:05:39,839 --> 00:05:43,159 Speaker 4: phone with the Prime Minister announcing the trade agreement which 102 00:05:43,200 --> 00:05:46,279 Speaker 4: they then signed on the sidelines of the G seven. 103 00:05:46,520 --> 00:05:48,960 Speaker 4: But it's a completely different political environment right now for 104 00:05:49,040 --> 00:05:53,520 Speaker 4: the Prime Minister and really not the most opportune moment 105 00:05:53,640 --> 00:05:55,719 Speaker 4: for him to have this state visit with the President 106 00:05:55,760 --> 00:05:55,880 Speaker 4: of the. 107 00:05:55,920 --> 00:05:58,120 Speaker 3: United States and Marie. 108 00:05:58,160 --> 00:06:00,279 Speaker 2: It's great to have you with us from Windsor Cast 109 00:06:00,279 --> 00:06:03,000 Speaker 2: Alive Bloomberg's and Marie hor Dern, who will be hearing 110 00:06:03,200 --> 00:06:05,720 Speaker 2: more from over the course of this visit. Again, the 111 00:06:05,760 --> 00:06:08,000 Speaker 2: President first Lady will be there through tomorrow. We want 112 00:06:08,040 --> 00:06:10,440 Speaker 2: to assemble our political panel for more on this and 113 00:06:10,520 --> 00:06:13,359 Speaker 2: the other stories we're tracking today in Washington. Bloomberg Politics 114 00:06:13,400 --> 00:06:17,080 Speaker 2: contributors Rick Davis and Jeanie Shanzano are where us Genie 115 00:06:17,080 --> 00:06:20,119 Speaker 2: as our democratic analyst and democracy visiting fellow at Harvard 116 00:06:20,160 --> 00:06:24,640 Speaker 2: Kennedy School's Ash Center. Rick are republican strategist and partner 117 00:06:24,680 --> 00:06:28,000 Speaker 2: at Stone Court Capital. Rick, would you have the president 118 00:06:28,279 --> 00:06:31,479 Speaker 2: hold the news conference you saw those images of Jeffrey 119 00:06:31,480 --> 00:06:36,120 Speaker 2: Epstein projected on the massive tower Windsor Castle last evening 120 00:06:36,480 --> 00:06:39,479 Speaker 2: conversation the administration would prefer not to have. Can you 121 00:06:39,520 --> 00:06:43,000 Speaker 2: trust the British press, never mind the Americans, to keep 122 00:06:43,000 --> 00:06:43,599 Speaker 2: that quiet? 123 00:06:44,680 --> 00:06:44,880 Speaker 3: Yeah? 124 00:06:44,920 --> 00:06:47,760 Speaker 7: I think for Or, I think that the Prime Minister 125 00:06:48,400 --> 00:06:52,400 Speaker 7: is just as concerned about having to answer questions as 126 00:06:52,440 --> 00:06:55,640 Speaker 7: Anne Marie pointed out, he's just lost hiss US ambassador 127 00:06:56,000 --> 00:06:59,320 Speaker 7: Peter Mandelsson to some of the scandal. But yeah, I mean, 128 00:06:59,400 --> 00:07:02,440 Speaker 7: obviously that's what they're going to try to avoid. Donald 129 00:07:02,440 --> 00:07:07,279 Speaker 7: Trump's pretty good about wandering around in an answer to 130 00:07:07,400 --> 00:07:10,920 Speaker 7: keep it from becoming a dominant theme, and his traveling 131 00:07:11,040 --> 00:07:14,400 Speaker 7: press will be also looking for opportunities to curry favor 132 00:07:14,440 --> 00:07:16,720 Speaker 7: with the President, and so it's not likely to be 133 00:07:17,280 --> 00:07:20,600 Speaker 7: a major topic. And there are interesting things, you know, 134 00:07:20,640 --> 00:07:25,040 Speaker 7: whether it's what's the standing currently of negotiations for ending 135 00:07:25,080 --> 00:07:29,640 Speaker 7: the war in Ukraine to what's happening in Gaza to immigration. 136 00:07:29,800 --> 00:07:34,120 Speaker 7: They just had a massive rally opposed to immigration in 137 00:07:34,400 --> 00:07:38,920 Speaker 7: downtown London. The visuals were amazing. I expect that to 138 00:07:39,000 --> 00:07:41,360 Speaker 7: be right down the center for Donald Trump to want 139 00:07:41,360 --> 00:07:44,080 Speaker 7: to take a swing at. So, yeah, there's going to 140 00:07:44,080 --> 00:07:48,760 Speaker 7: be an interesting opportunity to hear exactly how these two 141 00:07:48,960 --> 00:07:52,760 Speaker 7: politicians underseas a little bit in both their countries are 142 00:07:52,800 --> 00:07:54,320 Speaker 7: reacting to the world events. 143 00:07:55,920 --> 00:07:59,160 Speaker 5: Well, Jeannie wayn here. I mean, we know Rich just 144 00:07:59,200 --> 00:08:01,520 Speaker 5: mentioned those immigrats protests as well. 145 00:08:01,720 --> 00:08:03,160 Speaker 3: There were some questions. 146 00:08:02,880 --> 00:08:07,400 Speaker 5: Around free speech and the enforcement of free speech around 147 00:08:07,400 --> 00:08:09,440 Speaker 5: that as well as me jd Vance has previously brought 148 00:08:09,520 --> 00:08:12,480 Speaker 5: up in London. From your perspective, what might we hear 149 00:08:12,560 --> 00:08:15,600 Speaker 5: when it comes to a relationship a transatlantic alliance. I 150 00:08:15,640 --> 00:08:17,560 Speaker 5: could potentially see some strain this week. 151 00:08:24,240 --> 00:08:26,640 Speaker 8: Sorry, can you hear me now, Creedy? Sorry about that? 152 00:08:26,840 --> 00:08:29,240 Speaker 5: We oh, we absolutely can't go for Jeanie. 153 00:08:30,200 --> 00:08:33,240 Speaker 8: So for all the pageantry and the beautiful pictures that 154 00:08:33,280 --> 00:08:36,719 Speaker 8: we're seeing, and you know, you were just talking and 155 00:08:36,800 --> 00:08:40,040 Speaker 8: Rick was just talking about this Robinson led protest which 156 00:08:40,200 --> 00:08:45,600 Speaker 8: was I believe the largest far right demonstration in UK history. 157 00:08:46,200 --> 00:08:50,839 Speaker 8: And who was there to speak at least via virtually 158 00:08:51,200 --> 00:08:54,280 Speaker 8: was Elon Musk And what did he say? He said, 159 00:08:54,280 --> 00:08:57,760 Speaker 8: whether you choose violence or not, violence is coming for you. 160 00:08:57,880 --> 00:09:01,880 Speaker 8: And of course the Prime Minister condemned those remarks. But 161 00:09:02,280 --> 00:09:06,040 Speaker 8: that is quite a stark reminder of this split screen 162 00:09:06,440 --> 00:09:08,600 Speaker 8: that the people of Great Britain are seeing, and of 163 00:09:08,640 --> 00:09:13,280 Speaker 8: course Americans are seeing. While the President is enjoying all 164 00:09:13,320 --> 00:09:17,559 Speaker 8: this pageantry, there is the split screen of the Kirk assassination. 165 00:09:18,240 --> 00:09:22,280 Speaker 8: Issues surrounding hate speech and free speech, what's happening to 166 00:09:22,360 --> 00:09:26,480 Speaker 8: public health in this country? And even the President this 167 00:09:26,600 --> 00:09:30,480 Speaker 8: morning out on social media ranting against the far left, 168 00:09:30,840 --> 00:09:35,319 Speaker 8: and so I think there's something almost unbelievable for if 169 00:09:35,320 --> 00:09:38,720 Speaker 8: you are watching all of this, it just all doesn't 170 00:09:38,800 --> 00:09:42,040 Speaker 8: seem to add up. And the real question is when 171 00:09:42,080 --> 00:09:45,120 Speaker 8: they get down to policy, where are they on Ukraine, 172 00:09:45,160 --> 00:09:47,000 Speaker 8: Where are they on the Middle East, Where are they 173 00:09:47,040 --> 00:09:49,320 Speaker 8: on immigration, where are they on tariffs? 174 00:09:50,160 --> 00:09:52,000 Speaker 3: And what do they do with the likes. 175 00:09:51,840 --> 00:09:53,960 Speaker 8: Of the wealthiest man in the world, who's going out 176 00:09:54,000 --> 00:09:57,440 Speaker 8: talking about violence coming for you to the people of 177 00:09:57,440 --> 00:09:58,040 Speaker 8: Great Britain. 178 00:10:00,080 --> 00:10:02,600 Speaker 2: The idea that we've got executives along for the ride 179 00:10:02,600 --> 00:10:05,680 Speaker 2: again tells you what about the president? Is this just 180 00:10:05,760 --> 00:10:07,960 Speaker 2: the go forward when it comes to international travel? 181 00:10:08,760 --> 00:10:13,000 Speaker 7: Absolutely, you know, he is trying to basically run a 182 00:10:13,120 --> 00:10:18,000 Speaker 7: mercantile government where we're out there promoting US businesses and 183 00:10:18,080 --> 00:10:19,959 Speaker 7: we're demanding that if you want to do business with 184 00:10:20,000 --> 00:10:23,000 Speaker 7: the US, you have to basically become a US business 185 00:10:23,160 --> 00:10:26,840 Speaker 7: And and you know, companies all over the country have 186 00:10:27,320 --> 00:10:30,600 Speaker 7: made common cause of that, and they realize not just 187 00:10:30,720 --> 00:10:34,400 Speaker 7: because the federal government is a massive customer and in 188 00:10:34,440 --> 00:10:38,200 Speaker 7: some cases now making investments in their businesses, it does 189 00:10:38,240 --> 00:10:41,640 Speaker 7: you no good to ruffle the feathers of Donald Trump 190 00:10:42,760 --> 00:10:47,640 Speaker 7: and the environment that Trump has created with the tariff 191 00:10:47,679 --> 00:10:50,800 Speaker 7: regime has made it even more important to be in 192 00:10:50,840 --> 00:10:53,120 Speaker 7: good stead with the government in order to get carve 193 00:10:53,160 --> 00:10:56,680 Speaker 7: outs when you need them. So if Donald Trump says, hey, 194 00:10:56,720 --> 00:10:59,360 Speaker 7: the posse is going to Great Britain, I. 195 00:10:59,320 --> 00:11:01,680 Speaker 3: Think they're going to addle up and head in his direction. 196 00:11:03,360 --> 00:11:06,840 Speaker 5: But Rick, what about the regulation question here? I mean famously, 197 00:11:06,880 --> 00:11:09,360 Speaker 5: a lot of these international companies that have tried to 198 00:11:09,679 --> 00:11:13,040 Speaker 5: do acquisitions, that have tried to really embrace some of 199 00:11:13,080 --> 00:11:17,360 Speaker 5: the loosening of regulatory scrutiny from Washington have found a 200 00:11:17,360 --> 00:11:19,880 Speaker 5: lot of pushback in the UK. I'll give you an example. 201 00:11:19,960 --> 00:11:25,080 Speaker 5: Microsoft's takeover of Activision was really given clearance in the States, 202 00:11:25,400 --> 00:11:27,360 Speaker 5: was pushed back very aggressively. 203 00:11:26,800 --> 00:11:27,200 Speaker 7: In the UK. 204 00:11:27,280 --> 00:11:29,840 Speaker 5: This has been a sticking point in trade negotiations. Do 205 00:11:29,880 --> 00:11:31,880 Speaker 5: you think this is the moment where they might make 206 00:11:31,960 --> 00:11:33,560 Speaker 5: some progress on that kind of stuff. 207 00:11:35,080 --> 00:11:38,160 Speaker 7: I think that there will probably be a thorough conversation 208 00:11:38,320 --> 00:11:43,400 Speaker 7: about European reform, both from the commercial sector but also 209 00:11:43,520 --> 00:11:46,559 Speaker 7: from the military sector. You know, what are you doing 210 00:11:46,600 --> 00:11:49,600 Speaker 7: to put more pressure on the Russians? You know you 211 00:11:49,760 --> 00:11:53,000 Speaker 7: saw Donald Trump in advance of this trip start talking 212 00:11:53,040 --> 00:11:55,920 Speaker 7: about how the Europeans need to match what he's willing 213 00:11:55,960 --> 00:11:59,079 Speaker 7: to do, and you know, stop buying Russian oil. I 214 00:11:59,559 --> 00:12:03,320 Speaker 7: have no doubt that conversations will take place, even if 215 00:12:03,360 --> 00:12:08,600 Speaker 7: it's at the Scott Bessett level, around liberalization of rules 216 00:12:08,600 --> 00:12:15,320 Speaker 7: governing mergers and acquisitions. As you point out, banking, Europe 217 00:12:15,360 --> 00:12:18,319 Speaker 7: has a very protective banking sector. We know from people 218 00:12:18,360 --> 00:12:21,520 Speaker 7: like Jamie Diamond in the past at JP Morgan that 219 00:12:21,520 --> 00:12:24,360 Speaker 7: they'd love to have a better presence in Europe. So yeah, 220 00:12:24,400 --> 00:12:27,840 Speaker 7: I think there's going to be a fullsome certainly staff 221 00:12:27,920 --> 00:12:30,960 Speaker 7: level conversation about some of these reforms. And I think 222 00:12:31,000 --> 00:12:34,160 Speaker 7: Europe has learned that they need to engage with the 223 00:12:34,280 --> 00:12:37,840 Speaker 7: Trump administration and find common cause in some of these things, 224 00:12:37,840 --> 00:12:41,680 Speaker 7: because otherwise you're just going to be held over the 225 00:12:41,720 --> 00:12:45,280 Speaker 7: barrel when it comes to future negotiations. 226 00:12:46,480 --> 00:12:50,240 Speaker 2: Jennie, President Trump and the First Lady oversees well some 227 00:12:51,040 --> 00:12:56,079 Speaker 2: pretty high drama, political drama, i should say, unfolds here 228 00:12:56,200 --> 00:12:58,880 Speaker 2: in the nation's capital, all waiting for him when he 229 00:12:58,920 --> 00:13:01,640 Speaker 2: gets back, not the least of which is a potential 230 00:13:01,640 --> 00:13:04,319 Speaker 2: government shut down a week from now. We've got the 231 00:13:04,360 --> 00:13:07,959 Speaker 2: Jeffrey Epstein affair that seems to have followed him to Britain, 232 00:13:08,960 --> 00:13:11,560 Speaker 2: and any number of other stories that he's going to 233 00:13:11,600 --> 00:13:14,400 Speaker 2: have to deal with, including just a day or two 234 00:13:14,400 --> 00:13:19,199 Speaker 2: after he gets back, the funeral for Charlie Kirk in Arizona. 235 00:13:19,280 --> 00:13:21,560 Speaker 2: He's going to sit down today with Fox News for 236 00:13:21,600 --> 00:13:24,640 Speaker 2: an interview. Apparently a couple of hours from now, we'll 237 00:13:24,640 --> 00:13:27,080 Speaker 2: hear some of his remarks. And I don't know if 238 00:13:27,080 --> 00:13:29,120 Speaker 2: all of these stories are going to factor into it, 239 00:13:29,600 --> 00:13:32,120 Speaker 2: But what do you make of the timing? Will we 240 00:13:32,160 --> 00:13:34,720 Speaker 2: watch him take a ride in a carriage with the 241 00:13:34,840 --> 00:13:39,240 Speaker 2: king and salute the troops, watch the flyovers and spend 242 00:13:39,280 --> 00:13:44,400 Speaker 2: the day at Windsor Castle. What's the sort of storyline, 243 00:13:44,480 --> 00:13:46,319 Speaker 2: if you will, that's going to be waiting for him 244 00:13:46,320 --> 00:13:47,320 Speaker 2: when he gets back home. 245 00:13:48,920 --> 00:13:52,199 Speaker 8: You know, I think the big story is how much 246 00:13:52,880 --> 00:13:57,360 Speaker 8: this is just a cognitive dissonance for anybody watching this, 247 00:13:57,520 --> 00:14:00,920 Speaker 8: and what the president can do to address some of 248 00:14:00,960 --> 00:14:04,200 Speaker 8: these issues. He has gone abroad. We've seen this in 249 00:14:04,240 --> 00:14:09,560 Speaker 8: the modern presidency. Presidents go abroad and oftentimes, like he is, 250 00:14:10,040 --> 00:14:13,200 Speaker 8: enjoy this type of pageantry. But the reality is, for 251 00:14:13,320 --> 00:14:16,920 Speaker 8: Donald Trump, he has so many challenges at home, from 252 00:14:16,960 --> 00:14:19,800 Speaker 8: the budget, to political violence, to healthcare. I mean, the 253 00:14:19,840 --> 00:14:22,360 Speaker 8: list goes on and on, and then you look abroad. 254 00:14:23,000 --> 00:14:27,200 Speaker 8: Almost everything he promised to do has not been done 255 00:14:27,360 --> 00:14:31,640 Speaker 8: as you look abroad, including importantly for the Europeans what's 256 00:14:31,680 --> 00:14:35,120 Speaker 8: going on in Ukraine. So these are all issues that 257 00:14:35,160 --> 00:14:39,240 Speaker 8: are waiting for him. And I would hope that the 258 00:14:39,520 --> 00:14:42,840 Speaker 8: anchors or the reporters are talking to him from box, 259 00:14:43,280 --> 00:14:45,560 Speaker 8: ask him about all of these. But the last time 260 00:14:45,600 --> 00:14:48,640 Speaker 8: he sat down with them, much of his rhetoric was 261 00:14:48,720 --> 00:14:53,200 Speaker 8: particularly inflamed, finding an enemy on the left that he 262 00:14:53,240 --> 00:14:56,200 Speaker 8: could point to and blame for what is happening, and 263 00:14:56,240 --> 00:14:58,480 Speaker 8: that is not going to do much to address any 264 00:14:58,560 --> 00:15:01,760 Speaker 8: of these situations, and indeed it makes the challenge of 265 00:15:01,760 --> 00:15:03,040 Speaker 8: political violence worse. 266 00:15:04,560 --> 00:15:06,840 Speaker 2: Well, we'll see if he's going to be watching what 267 00:15:06,960 --> 00:15:08,880 Speaker 2: comes out of the Federal Reserve today, a maybe we'll 268 00:15:08,880 --> 00:15:12,760 Speaker 2: get some truths from the UK. Jennie Shanzano and Rick Davis, 269 00:15:12,760 --> 00:15:14,800 Speaker 2: thank you so much, Bloomberg Politics contributors. 270 00:15:14,920 --> 00:15:17,080 Speaker 3: Stay with us on Balance of Power. We'll have much 271 00:15:17,080 --> 00:15:18,280 Speaker 3: more coming up after this. 272 00:15:22,560 --> 00:15:26,000 Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch 273 00:15:26,080 --> 00:15:29,560 Speaker 1: us live weekdays at noon and five pm Eastern on Apple, 274 00:15:29,600 --> 00:15:32,640 Speaker 1: Cockway and Android Auto with the Bloomberg Business app. You 275 00:15:32,640 --> 00:15:36,120 Speaker 1: can also listen live on Amazon Alexa from our flagship 276 00:15:36,200 --> 00:15:40,320 Speaker 1: New York station, Just Say Alexa play Bloomberg eleven thirty. 277 00:15:41,480 --> 00:15:44,360 Speaker 2: In Washington, where we're counting down to a potential shutdown. 278 00:15:44,400 --> 00:15:46,280 Speaker 2: You know that the cable nets haven't started with the 279 00:15:46,320 --> 00:15:49,720 Speaker 2: countdown clocks yet, right, so it's not really real until 280 00:15:49,720 --> 00:15:52,600 Speaker 2: that happens. But whenever we talk to lawmakers here, and 281 00:15:52,760 --> 00:15:55,240 Speaker 2: just in the past couple of days, it doesn't sound like. 282 00:15:55,160 --> 00:15:56,040 Speaker 3: We're close to something. 283 00:15:56,080 --> 00:15:58,880 Speaker 2: Republicans put out their text for a clean cr yesterday. 284 00:15:59,200 --> 00:16:01,640 Speaker 2: Democrats don't seem to be in the mood to have 285 00:16:01,720 --> 00:16:03,800 Speaker 2: any of that, and they're preparing a counter offer today 286 00:16:03,840 --> 00:16:07,480 Speaker 2: that will likely include the extension of Obamacare subsidies. There 287 00:16:07,520 --> 00:16:09,560 Speaker 2: might be more where that came from, maybe tinkering around 288 00:16:09,560 --> 00:16:10,640 Speaker 2: with Medicaid. 289 00:16:10,200 --> 00:16:12,080 Speaker 3: Following changes in the Big Beautiful bill. 290 00:16:12,520 --> 00:16:14,600 Speaker 2: Speaker of the House is ready for it, Mike Johnson 291 00:16:14,600 --> 00:16:15,800 Speaker 2: talked about it just yesterday. 292 00:16:15,800 --> 00:16:16,080 Speaker 3: Listen. 293 00:16:17,120 --> 00:16:20,840 Speaker 6: Predictably, and unfortunately, there are some Democrats who are openly 294 00:16:20,880 --> 00:16:24,480 Speaker 6: pining for a government shutdown in spite of this obvious 295 00:16:24,560 --> 00:16:28,040 Speaker 6: and necessary step. They're grasping for straws as a party, 296 00:16:28,040 --> 00:16:30,800 Speaker 6: and so some of them apparently believe that shutting down 297 00:16:30,840 --> 00:16:33,080 Speaker 6: the government will be some sort of life raft for 298 00:16:33,120 --> 00:16:35,760 Speaker 6: them so they can regain the support of the American people. 299 00:16:35,800 --> 00:16:38,200 Speaker 6: I just think that is a fool's gambit. 300 00:16:39,720 --> 00:16:43,000 Speaker 2: A fool's gambit, Alex Conant tell us if this is true, 301 00:16:43,080 --> 00:16:47,240 Speaker 2: the Republican strategists principle at Firehouse Strategies is back. 302 00:16:47,040 --> 00:16:48,760 Speaker 3: Here in our DC bureau. 303 00:16:48,920 --> 00:16:51,360 Speaker 2: You've seen this movie so many times it almost feels 304 00:16:51,360 --> 00:16:53,440 Speaker 2: silly to talk about it until like the day before. 305 00:16:54,080 --> 00:16:56,800 Speaker 2: But I mean, lawmakers don't have time for a shutdown 306 00:16:56,800 --> 00:16:58,080 Speaker 2: on either side of the aisle, do they. 307 00:16:58,440 --> 00:16:59,920 Speaker 3: Well, certainly Republican. 308 00:17:00,360 --> 00:17:02,440 Speaker 9: I mean, I think Republicans really want to enact Donald 309 00:17:02,480 --> 00:17:05,359 Speaker 9: Trump's agenda, and having the government shut down a huge 310 00:17:05,520 --> 00:17:08,040 Speaker 9: short term distraction for that, which is why they've effectively 311 00:17:08,040 --> 00:17:10,919 Speaker 9: already conceded this fight by saying we will do a 312 00:17:10,920 --> 00:17:15,439 Speaker 9: clean CR. Traditionally, Conservatives hate clean crs, especially crs that 313 00:17:15,480 --> 00:17:19,440 Speaker 9: continue the funding at Biden level of levels of funding. 314 00:17:19,480 --> 00:17:22,959 Speaker 9: I mean, we're basically continue Biden's fiscal losses with with 315 00:17:23,200 --> 00:17:25,720 Speaker 9: the CR. They've conceded that. They're like, we'll do this 316 00:17:25,800 --> 00:17:28,680 Speaker 9: for another six weeks. The Democrats are feeling so much 317 00:17:28,680 --> 00:17:32,800 Speaker 9: pressure from their base that that they have to make 318 00:17:33,040 --> 00:17:36,000 Speaker 9: Donald Trump fight, they have to make Donald Trump lose suffer, 319 00:17:36,320 --> 00:17:38,480 Speaker 9: and so they're coming up with these these things that 320 00:17:38,520 --> 00:17:40,760 Speaker 9: they want, including the cr that Republics are never going 321 00:17:40,800 --> 00:17:44,240 Speaker 9: to agree to. Ironically, they're related to Obamacare. I worked 322 00:17:44,280 --> 00:17:46,720 Speaker 9: in the Senate when when we were in the minority 323 00:17:47,200 --> 00:17:50,200 Speaker 9: and Obama was president, and we shut down the government 324 00:17:50,320 --> 00:17:53,760 Speaker 9: over Obamacare stuff, and I remember very vividly going into 325 00:17:53,760 --> 00:17:55,880 Speaker 9: that fight saying, there is no way we win this fight. 326 00:17:55,960 --> 00:17:57,960 Speaker 3: It's going to cost a lot of political. 327 00:17:57,480 --> 00:18:00,920 Speaker 9: Capital, but our base is demanding it shut down the government, 328 00:18:00,960 --> 00:18:03,399 Speaker 9: and a couple weeks later we relented the government reopen. 329 00:18:03,440 --> 00:18:04,639 Speaker 3: It was a big win for Obama. 330 00:18:04,720 --> 00:18:06,720 Speaker 9: I think the Democrats are setting themselves up for a 331 00:18:06,760 --> 00:18:09,000 Speaker 9: similar failure here, where they could very well shut down 332 00:18:09,040 --> 00:18:12,639 Speaker 9: the government in a few weeks making unreasonable demands on Trump. 333 00:18:12,720 --> 00:18:14,400 Speaker 9: The public is not going to go along with them 334 00:18:14,440 --> 00:18:17,399 Speaker 9: on this, and they'll eventually concede. The only way that 335 00:18:17,440 --> 00:18:19,960 Speaker 9: doesn't happen is if the moderates in the Senate, of 336 00:18:20,000 --> 00:18:23,560 Speaker 9: which there's a handful of Democrats, don't realize that this 337 00:18:23,640 --> 00:18:27,000 Speaker 9: is a political loser and agree to break with Schumer 338 00:18:27,200 --> 00:18:28,840 Speaker 9: and keep the government open, which I think is a 339 00:18:28,880 --> 00:18:29,520 Speaker 9: real possibleity. 340 00:18:29,520 --> 00:18:31,639 Speaker 3: Secretary Kennedy demanded. 341 00:18:32,400 --> 00:18:37,719 Speaker 2: The idea of extending Obamacare tax credits is something that 342 00:18:37,760 --> 00:18:40,679 Speaker 2: can be handled at some point between now and the 343 00:18:40,800 --> 00:18:46,040 Speaker 2: end of the year. The cr NDS Thanksgiving. Mike Johnson 344 00:18:46,080 --> 00:18:49,040 Speaker 2: this morning said a policy debate at the end of 345 00:18:49,080 --> 00:18:54,040 Speaker 2: December has nothing to do with a funding proposition in September. 346 00:18:55,440 --> 00:18:57,920 Speaker 2: That type of messaging might make some sense to people, 347 00:18:58,000 --> 00:19:00,359 Speaker 2: But would that suggests that there is a concerted debate 348 00:19:00,400 --> 00:19:01,360 Speaker 2: over Obamacare. 349 00:19:01,400 --> 00:19:03,119 Speaker 9: Oh, I think there absolutely is something that there are 350 00:19:03,160 --> 00:19:05,399 Speaker 9: a lot of Republicans in the House and the Senate 351 00:19:05,560 --> 00:19:08,760 Speaker 9: who are concerned about ending these subsidies going into because 352 00:19:09,160 --> 00:19:14,360 Speaker 9: that whenever you take something away from somebody, that's going 353 00:19:14,400 --> 00:19:15,200 Speaker 9: to be unpopular. 354 00:19:15,240 --> 00:19:16,840 Speaker 3: And so I think that there are a lot of 355 00:19:16,880 --> 00:19:18,600 Speaker 3: Republicans in both the House in the Senate. While they 356 00:19:18,600 --> 00:19:19,160 Speaker 3: don't like. 357 00:19:19,240 --> 00:19:22,359 Speaker 9: These taxi centers, they're not really looking these tax credits. 358 00:19:22,400 --> 00:19:25,240 Speaker 9: They're not looking to cut them going into a midterm cycle. 359 00:19:25,280 --> 00:19:27,520 Speaker 9: So I think there is interest in extending them. They 360 00:19:27,560 --> 00:19:29,199 Speaker 9: just really don't want to do as part of a 361 00:19:29,240 --> 00:19:31,280 Speaker 9: standalone cr They want it to be done in the 362 00:19:31,280 --> 00:19:33,840 Speaker 9: context of funding the overall government. So I do think 363 00:19:33,880 --> 00:19:35,880 Speaker 9: that this is going to be on the table, this fault. Look, 364 00:19:36,400 --> 00:19:38,080 Speaker 9: whatever happens in the next couple of weeks here with 365 00:19:38,119 --> 00:19:40,240 Speaker 9: the government, with whether or not we shut down the government, 366 00:19:40,240 --> 00:19:42,560 Speaker 9: there is going to be a big funding fight before 367 00:19:42,600 --> 00:19:43,960 Speaker 9: the end of the year. And you're going to have 368 00:19:44,000 --> 00:19:47,040 Speaker 9: healthcare drawn into it. You're going to include so while 369 00:19:47,080 --> 00:19:49,480 Speaker 9: we care taxic centers. There's going to be a lot 370 00:19:49,520 --> 00:19:52,359 Speaker 9: on the plate. And so I think this is not 371 00:19:52,440 --> 00:19:53,840 Speaker 9: the fight, right, this is the fight. 372 00:19:53,720 --> 00:19:54,400 Speaker 3: Before the fight. 373 00:19:54,600 --> 00:19:58,920 Speaker 2: You're not scheduling the ski vacation for Christmas. It sounds like, yeah, look, 374 00:19:58,960 --> 00:20:01,640 Speaker 2: I mean we could, We'll be here on Christmas Eve. Yeah, 375 00:20:01,760 --> 00:20:03,680 Speaker 2: sounds like which it would not be unprecedent. 376 00:20:03,720 --> 00:20:05,439 Speaker 3: You've done it before, no doubt. Exactly. 377 00:20:05,520 --> 00:20:10,480 Speaker 2: Interesting conversation with Senator Fetterman, of course, a Democrat from Pennsylvanias, 378 00:20:10,480 --> 00:20:12,560 Speaker 2: on with Brettbeer on Fox News talking about all that. 379 00:20:12,840 --> 00:20:13,760 Speaker 3: Let's listen to what he said. 380 00:20:14,680 --> 00:20:18,679 Speaker 10: I absolutely fully support extending the text credits for the ACA, 381 00:20:18,760 --> 00:20:21,680 Speaker 10: but I refuse absolutely to vote for anything, whether that's 382 00:20:21,720 --> 00:20:23,920 Speaker 10: the shut our government down. You know, I can agree 383 00:20:23,960 --> 00:20:26,760 Speaker 10: and strongly believe in something, but that it's unacceptable to 384 00:20:26,800 --> 00:20:32,119 Speaker 10: hold the government opening or closing as a hostage, and 385 00:20:32,160 --> 00:20:34,800 Speaker 10: I refuse to be part of it. So that's going 386 00:20:34,840 --> 00:20:37,120 Speaker 10: to be where we're at. And I've been very clear 387 00:20:37,200 --> 00:20:37,640 Speaker 10: on that. 388 00:20:39,280 --> 00:20:42,000 Speaker 2: Is John Fetterman actually on the leading edge or will 389 00:20:42,000 --> 00:20:43,400 Speaker 2: he end up he lay for Democrats? 390 00:20:43,520 --> 00:20:46,800 Speaker 3: I mean, look, Fetterman represents that moderate block. 391 00:20:46,920 --> 00:20:50,040 Speaker 9: Now he's out obviously the most vocal now spoken all 392 00:20:50,040 --> 00:20:52,119 Speaker 9: of them. But there are a handful of moderates in 393 00:20:52,160 --> 00:20:55,919 Speaker 9: the Senate Democrats, Senate Democrats that are facing re elections 394 00:20:55,920 --> 00:20:57,679 Speaker 9: in the next few years that just aren't looking to 395 00:20:57,680 --> 00:20:59,439 Speaker 9: shut down the government over a fight that they know 396 00:20:59,520 --> 00:21:01,200 Speaker 9: that they can win. If you've been in the Senate 397 00:21:01,240 --> 00:21:04,600 Speaker 9: for a long time, you know the minority always loses 398 00:21:04,640 --> 00:21:09,240 Speaker 9: these shutdown fights, especially when they're the ones making demands. So, look, 399 00:21:09,440 --> 00:21:11,400 Speaker 9: this is a political loser for them. I think Fetterman 400 00:21:11,440 --> 00:21:13,520 Speaker 9: recognizes it. I think a lot of them recognize it. 401 00:21:13,560 --> 00:21:15,199 Speaker 9: But they feel the pressure from the debate to at 402 00:21:15,240 --> 00:21:18,240 Speaker 9: least show some fight. I've been there, like, I understand 403 00:21:18,440 --> 00:21:21,720 Speaker 9: the pressure that they're feeling. And it's hard to tell 404 00:21:21,760 --> 00:21:24,600 Speaker 9: your base that they're wrong, but their base is wrong. 405 00:21:24,800 --> 00:21:28,360 Speaker 2: Interesting the conversations, I can only assume in the coming 406 00:21:28,440 --> 00:21:29,359 Speaker 2: days are going to decide this. 407 00:21:29,480 --> 00:21:30,320 Speaker 3: Right, You've got. 408 00:21:30,640 --> 00:21:33,919 Speaker 2: Another week off essentially with the holidays next week, and 409 00:21:33,960 --> 00:21:35,800 Speaker 2: then when they come back, they'll have. 410 00:21:35,720 --> 00:21:36,240 Speaker 3: Like three days. 411 00:21:36,280 --> 00:21:38,440 Speaker 9: If the Republicans are going to push forward, the clean 412 00:21:38,480 --> 00:21:40,600 Speaker 9: cr is going to pass the House. You know, Trump 413 00:21:40,640 --> 00:21:42,520 Speaker 9: might have to twist a couple of arms amongst Republicans, 414 00:21:42,560 --> 00:21:44,000 Speaker 9: but the will pass the House. They'll bring it to 415 00:21:44,080 --> 00:21:46,000 Speaker 9: the center floor and then we'll see if the Democrats 416 00:21:46,000 --> 00:21:46,440 Speaker 9: blank or not. 417 00:21:46,560 --> 00:21:52,919 Speaker 2: Okay, there is a backdrop here of corrosion in relationships 418 00:21:52,920 --> 00:21:56,080 Speaker 2: on Capitol Hill between Democrats and Republicans, just like we're 419 00:21:56,080 --> 00:21:59,119 Speaker 2: seeing nationally following the shooting of Charlie Kirk. And I 420 00:21:59,160 --> 00:22:02,360 Speaker 2: wonder where you're head is. I think we all consider 421 00:22:02,440 --> 00:22:06,200 Speaker 2: you a pretty balanced moderate guy, yourself an old line Republican. 422 00:22:06,200 --> 00:22:07,080 Speaker 3: Maybe you can check that. 423 00:22:07,160 --> 00:22:09,280 Speaker 2: I know you want me to call you a conservative Republican, 424 00:22:10,480 --> 00:22:13,399 Speaker 2: but a conservative maybe in an older sense. 425 00:22:13,720 --> 00:22:14,719 Speaker 3: If you know what I'm saying here. 426 00:22:14,760 --> 00:22:17,800 Speaker 2: When it comes to Republican politics, the blame game that's 427 00:22:17,840 --> 00:22:20,720 Speaker 2: going on right now is one we can all probably 428 00:22:20,720 --> 00:22:24,040 Speaker 2: agree is pretty dangerous. I just wonder how it impacts policymaking. 429 00:22:24,640 --> 00:22:30,160 Speaker 2: There's a dual censure effort underway against elon Omar. Right now, 430 00:22:30,160 --> 00:22:32,520 Speaker 2: maybe that takes out some of the poison on the floor, 431 00:22:32,520 --> 00:22:34,639 Speaker 2: But where's the catharsis here? 432 00:22:34,640 --> 00:22:35,520 Speaker 3: How do we get around it? 433 00:22:35,560 --> 00:22:38,600 Speaker 9: Look, I've been working in politics my entire adult life, 434 00:22:39,080 --> 00:22:42,320 Speaker 9: worked out lots of presidential campaigns, Bush, White House, Senate, 435 00:22:42,560 --> 00:22:46,600 Speaker 9: lots of presidential campaigns. And you're right, like, this is 436 00:22:46,760 --> 00:22:48,520 Speaker 9: this is not just happened in the last week. It's 437 00:22:48,560 --> 00:22:52,760 Speaker 9: not Donald Trump's fault. It's this is the rhetoric. The 438 00:22:53,359 --> 00:22:56,439 Speaker 9: personal nature of politics has been getting exponentially worse for 439 00:22:56,440 --> 00:22:59,760 Speaker 9: the last twenty years. And I don't know how it 440 00:22:59,760 --> 00:23:01,960 Speaker 9: turns round. I don't know what would cause it to 441 00:23:02,000 --> 00:23:07,080 Speaker 9: turn around, but clearly last week was, you know, just 442 00:23:07,160 --> 00:23:10,200 Speaker 9: poured fuel on a fire. Feels like a new loan, Yes, 443 00:23:10,240 --> 00:23:12,199 Speaker 9: And I think for a lot of Conservatives who have 444 00:23:12,280 --> 00:23:15,120 Speaker 9: felt targeted, it became incredibly personal. 445 00:23:15,960 --> 00:23:18,879 Speaker 3: And you know, I think a lot of Democrats, not 446 00:23:19,119 --> 00:23:19,520 Speaker 3: all of them. 447 00:23:19,520 --> 00:23:22,080 Speaker 9: I think most Democrats' response was totally appropriate, but obviously 448 00:23:22,160 --> 00:23:22,920 Speaker 9: some of them weren't. 449 00:23:23,240 --> 00:23:25,760 Speaker 3: I think they're feeling the backlash. Now. Where this goes, 450 00:23:25,800 --> 00:23:26,119 Speaker 3: I don't know. 451 00:23:26,160 --> 00:23:28,080 Speaker 9: The future is very hard to predict, but clearly, it's 452 00:23:28,119 --> 00:23:32,280 Speaker 9: a very toxic environment, and it does make governing harder, 453 00:23:32,520 --> 00:23:36,280 Speaker 9: right like when you are when when both sides are 454 00:23:37,320 --> 00:23:39,480 Speaker 9: have made the debate as personal as it is, it's 455 00:23:39,520 --> 00:23:44,000 Speaker 9: just harder for lawmakers to craft bipartisan policy because at 456 00:23:44,000 --> 00:23:46,639 Speaker 9: the end of the day, to craft lasting policies in 457 00:23:46,680 --> 00:23:49,600 Speaker 9: this country, you need bipartisan support, and that's really hard 458 00:23:49,600 --> 00:23:50,359 Speaker 9: to do at this moment. 459 00:23:50,400 --> 00:23:53,760 Speaker 2: You remember the Capitol Hill shooting back in nineteen ninety nine, 460 00:23:53,760 --> 00:23:57,200 Speaker 2: I believe it was, Yeah, that really shook the capital, 461 00:23:57,320 --> 00:23:57,960 Speaker 2: shook the city. 462 00:23:58,000 --> 00:24:00,760 Speaker 3: We weren't really used to. Anybody could walk in the 463 00:24:00,840 --> 00:24:01,439 Speaker 3: Capitol back then. 464 00:24:01,480 --> 00:24:03,800 Speaker 2: Remember, you could go to anybody's office, didn't even need 465 00:24:03,800 --> 00:24:06,679 Speaker 2: a chaperone or a badge or a credential at that point. 466 00:24:06,920 --> 00:24:08,879 Speaker 2: And that was the beginning of the change. Things tightened 467 00:24:08,920 --> 00:24:10,320 Speaker 2: up a lot more after nine to eleven, a lot 468 00:24:10,320 --> 00:24:12,600 Speaker 2: more security. Yeah, but what do we need now to 469 00:24:12,680 --> 00:24:15,280 Speaker 2: lawmakers need details? That's what they're talking about this week. 470 00:24:15,720 --> 00:24:17,000 Speaker 2: I think that's totally appropriate. 471 00:24:17,040 --> 00:24:18,720 Speaker 9: Yeah, I mean, I think, look, there's a lot of 472 00:24:18,720 --> 00:24:20,879 Speaker 9: crazy people in this country and a lot of angry 473 00:24:20,920 --> 00:24:23,800 Speaker 9: people in this country, and so would you put. 474 00:24:23,680 --> 00:24:25,840 Speaker 3: Your candidate in an outdoor event if you're on a trail. 475 00:24:25,880 --> 00:24:28,560 Speaker 9: A lot of people in public life and they're scared, 476 00:24:28,800 --> 00:24:32,440 Speaker 9: right Like, they're like, the environment is very toxic right now, 477 00:24:32,480 --> 00:24:34,320 Speaker 9: and so I think the minimum we can do is make. 478 00:24:34,240 --> 00:24:35,880 Speaker 3: Sure that our public leaders are safe. 479 00:24:36,359 --> 00:24:40,000 Speaker 2: Does this require leadership on a political level to get 480 00:24:40,080 --> 00:24:42,560 Speaker 2: us out of this, to get us to a different 481 00:24:42,680 --> 00:24:45,879 Speaker 2: tone and a different conversation or or is it something 482 00:24:46,080 --> 00:24:48,159 Speaker 2: I guess more bleak than that that in two or 483 00:24:48,200 --> 00:24:51,359 Speaker 2: three weeks everybody moves on the new cycle churns and 484 00:24:51,400 --> 00:24:52,320 Speaker 2: we're not talking about it. 485 00:24:52,480 --> 00:24:54,320 Speaker 9: Well, it's a chicken in an eg argument, right Like, 486 00:24:54,359 --> 00:24:56,360 Speaker 9: I think leaders reflect the public opinion. 487 00:24:56,440 --> 00:24:58,040 Speaker 3: And so look, you know. 488 00:24:58,000 --> 00:25:01,920 Speaker 9: Donald Trump was elected because that's who Republicans. 489 00:25:01,320 --> 00:25:02,280 Speaker 3: Want as their leader. 490 00:25:02,320 --> 00:25:04,919 Speaker 9: And you look at the sorts of Democrats that are 491 00:25:04,920 --> 00:25:08,000 Speaker 9: being nominated right now in state and local elections. That's 492 00:25:08,040 --> 00:25:10,199 Speaker 9: where the Democratic Party is headed as well. You know, 493 00:25:10,320 --> 00:25:14,159 Speaker 9: this is like both we're getting the leaders are that 494 00:25:14,520 --> 00:25:16,919 Speaker 9: we voted for, And so I think it's a bit 495 00:25:16,960 --> 00:25:19,440 Speaker 9: of a So obviously I think, you know, national leadership 496 00:25:19,480 --> 00:25:22,280 Speaker 9: can help set the tone for environments, but at the 497 00:25:22,320 --> 00:25:23,880 Speaker 9: end of the day, that national leadership, so I think 498 00:25:23,920 --> 00:25:26,159 Speaker 9: reflecting the broader public sentiment. 499 00:25:26,400 --> 00:25:28,920 Speaker 2: In the meantime, we're at the beginning of what looks 500 00:25:28,960 --> 00:25:34,480 Speaker 2: like a spiral of five year gerrymandering. Here is the 501 00:25:34,520 --> 00:25:38,280 Speaker 2: redrawing of congressional maps and the positioning we're seeing Democrats 502 00:25:38,280 --> 00:25:41,359 Speaker 2: and Republicans only going to make the partisanship more extreme. 503 00:25:41,840 --> 00:25:43,399 Speaker 3: You know, I think it's going to be interesting to 504 00:25:43,400 --> 00:25:44,480 Speaker 3: see how this plays out. 505 00:25:44,480 --> 00:25:46,560 Speaker 9: I mean, ironically, what we're doing is making a lot 506 00:25:46,680 --> 00:25:49,560 Speaker 9: of these districts way more competitive. You know, you're taking 507 00:25:49,720 --> 00:25:52,800 Speaker 9: very safe Democratic districts and turning in more purple and 508 00:25:52,840 --> 00:25:54,960 Speaker 9: you're taking and the way you do that is by 509 00:25:55,000 --> 00:25:57,639 Speaker 9: taking very safe Republican districts Attorney and then more purple. 510 00:25:57,760 --> 00:26:00,879 Speaker 3: Right, both parties here are gambling that the polical environment 511 00:26:00,920 --> 00:26:02,240 Speaker 3: is going to be very good for them next Yeah, 512 00:26:02,240 --> 00:26:04,720 Speaker 3: how true. But if it's not, this could backlash on 513 00:26:04,720 --> 00:26:05,280 Speaker 3: one of the parties. 514 00:26:05,359 --> 00:26:06,560 Speaker 9: So if at the end of the day we have 515 00:26:06,600 --> 00:26:09,040 Speaker 9: a lot more purple districts, that's not necessarily a bad thing. 516 00:26:09,119 --> 00:26:11,160 Speaker 2: So we're back to dummy mandering or something like that. 517 00:26:11,200 --> 00:26:14,160 Speaker 2: In the meantime, we'll see. This is why people hire 518 00:26:14,200 --> 00:26:15,800 Speaker 2: Alex Konit great to have you back. 519 00:26:15,800 --> 00:26:16,119 Speaker 3: Thank you. 520 00:26:16,240 --> 00:26:19,920 Speaker 2: Firehouse Strategies Live with us in Washington, d C. Thanks 521 00:26:19,920 --> 00:26:23,040 Speaker 2: for listening to the Balance of Power podcast. Make sure 522 00:26:23,080 --> 00:26:25,960 Speaker 2: to subscribe if you haven't already, at Apple, Spotify, or 523 00:26:26,000 --> 00:26:28,679 Speaker 2: wherever you get your podcasts, and you can find us 524 00:26:28,720 --> 00:26:31,800 Speaker 2: live every weekday from Washington, DC at New Time Eastern 525 00:26:32,119 --> 00:26:33,600 Speaker 2: at Bloomberg dot com.