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Speaker 1: One individual who will be on the debate stage. We're

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Speaker 1: happy that he's joining us is North Dakota Governor Doug

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Speaker 1: Bergham joining us from.

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Speaker 2: New York Governor.

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Speaker 1: Thank you so much for your time. You've worked hard

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Speaker 1: to not make the twenty twenty four presidential election about

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Speaker 1: the former president, but he is the front runner and

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Speaker 1: the de facto standard bearer of your party. He also

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Speaker 1: held the job at one point, so why shouldn't.

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Speaker 3: It be him?

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Speaker 4: Well, and you know, I've come from the private sector.

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Speaker 4: I spent thirty years in the private sector before I

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Speaker 4: got before I had the opportunity. My first job I

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Speaker 4: ever ran foreign politics was the governor North Dakota. But

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Speaker 4: I know that if you were you know, and I've

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Speaker 4: been the corporate officer or CEO or chairman of public

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Speaker 4: companies for twenty years straight, right up until the day

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Speaker 4: before I became governor.

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Speaker 3: If we had a really open.

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Speaker 4: If we had a key position available in the company,

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Speaker 4: and even if you had somebody that had worked for

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Speaker 4: you before, maybe they'd held a position before, then hey,

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Speaker 4: have a big interview pool, have a large group of candidates,

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Speaker 4: because competition's great. It's great for the Publican party it's

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Speaker 4: great for the country. It's great when companies are trying

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Speaker 4: to fill key positions, and this, of course, in many

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Speaker 4: ways the most important job in our country, and so

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Speaker 4: giving Republicans a choice next January when the voting starts,

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Speaker 4: I think it is fantastic. So I've been on the

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Speaker 4: record saying I don't think the.

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Speaker 3: Field is too big.

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Speaker 4: I mean, if this is the most important job in

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Speaker 4: the world and you had twelve people applied and maybe

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Speaker 4: only seven or eight are going to make it through

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Speaker 4: the first hurtle, seems like a pretty small pool.

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Speaker 3: The private sector.

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Speaker 5: We'd been reposting, right, But if this was a sport,

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Speaker 5: you'd obviously be going against the individual that's leading the way,

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Speaker 5: and a lot of people on the debate stage are

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Speaker 5: not willing to go there.

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Speaker 1: I'm guessing though, if you thought for a president Trump

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Speaker 1: did a good job, you wouldn't be running.

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Speaker 4: Yourself well as someone who would supported President Trump and

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Speaker 4: his policies that during the four years he was in

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Speaker 4: office were.

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Speaker 3: Very positive for North Dakota.

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Speaker 4: But obviously I'm running, but I'm running I'm running to

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Speaker 4: beat Joe Biden. I mean, Joe Biden is he's wrong

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Speaker 4: on the economy, he's wrong on energy policy, and he's

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Speaker 4: run on national security, and these things are hurting every American.

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Speaker 4: So our reason for running is to improve the life

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Speaker 4: of every American, bring out the best of America. And

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Speaker 4: we were doing that in North Dkota. We know we

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Speaker 4: can do that in the country.

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Speaker 2: Well, the path to Joe Biden goes through the front runner. Theoretically, Governor,

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Speaker 2: are you preparing to go after Donald Trump at the

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Speaker 2: debate next week, whether or not he is actually in attendance.

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Speaker 4: Well, we've got a very different spot, as you've noted.

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Speaker 4: Among the right now there's seven either going to be

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Speaker 4: seven or eight people on the debate stage. We're the

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Speaker 4: least well known of any of those folks that you know.

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Speaker 4: But i'd love to quote quote George Will. You know

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Speaker 4: he wrote an article that said, this is the most

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Speaker 4: qualified presidential candidate you've never ever heard of, meaning talking

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Speaker 4: about myself. And so we've got a job that's different.

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Speaker 4: I mean, if you've held national office, if you've run

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Speaker 4: for president before, if you've been a pundit on a

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Speaker 4: national cable channel, if you've been a governor of a

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Speaker 4: state next to a large metro with national press, you've

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Speaker 4: got one hundred percent name recognition.

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Speaker 3: We've got very low name recognition, so part of our

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Speaker 3: job next week. I know when I was in the.

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Speaker 4: Private sector, when we were doing a startup. You know,

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Speaker 4: I came from a town of three hundred people. My

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Speaker 4: dad passed away when I was a freshman in high school.

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Speaker 4: I got a little bit of farm ground mortgage that

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Speaker 4: that became the seed capital for great Plain Software. We

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Speaker 4: built that into a company that went public fourteen years later.

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Speaker 4: We got we had a fabulous run as a public company,

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Speaker 4: got acquired by Microsoft for one point one billion dollars.

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Speaker 4: I stayed there for seven years leading Microsoft Business Solution.

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Speaker 4: Sacha Nadella, a friend, was a direct report of mine

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Speaker 4: during the entire time that I was there. But I

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Speaker 4: know one thing when you're in that when we're in

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Speaker 4: that business, we never came out when we were the

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Speaker 4: little guy, when we were the startup, we didn't come

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Speaker 4: out and start attacking the market leader. We had to

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Speaker 4: tell customers what we did and why our product was better.

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Speaker 4: And it's the same thing here right now, at this

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Speaker 4: stage of the game, and with this many candidates, we

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Speaker 4: got to keep just telling people who we are and

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Speaker 4: what we can do.

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Speaker 3: For this country.

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Speaker 2: So, Governor, to your point on name recognition, in order

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Speaker 2: to qualify for this first debate, you were offering anyone

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Speaker 2: who donated donated one dollar to your campaign twenty dollars

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Speaker 2: in return. That helped you reach the donor threshold. You

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Speaker 2: also have the one percent polling threshold that you need.

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Speaker 2: The next debate, the second one in September, has an

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Speaker 2: even higher donor threshold, which I understand that you already

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Speaker 2: have crossed. You also have to have three percent in

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Speaker 2: the pulse. Theoretically, the dollars aren't necessarily going to solve

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Speaker 2: that problem for you, So how do you make it happen?

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Speaker 4: Well, let me just say again on our promotion. If

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Speaker 4: with people you know said to us and the political

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Speaker 4: insiders that created these rules, if you went to some

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Speaker 4: firm and said, hey, you know, help us get forty

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Speaker 4: thousand donors, they estimated it would cost one hundred dollars

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Speaker 4: for getting one additional donor using the traditional, you know,

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Speaker 4: the best in the class political system. We said, hey,

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Speaker 4: we think there's a way to do that in an

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Speaker 4: entrepreneurial way at a fraction of the costs, and we

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Speaker 4: got this thing done for one fifth the cost.

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Speaker 3: Of what a traditional political thing.

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Speaker 4: I said, I'd rather give money to our supporters than

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Speaker 4: give it to a political fundraising firm. And then of

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Speaker 4: course what we did give out was a Biden inflation

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Speaker 4: relief card. And of course when we've got you know,

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Speaker 4: the highest interest rates in twenty two years inflation, you know,

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Speaker 4: where the average families paned seven hundred dollars a month

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Speaker 4: more to put food in, food on the table, and

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Speaker 4: gas in their car, it was great, and of course

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Speaker 4: we got a lot of attention for that, and then

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Speaker 4: it brought people to our website, you know, Doug Burgham

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Speaker 4: dot com. And then when they came, they said, hey,

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Speaker 4: we like what this person's doing. They're talking about economy, energy,

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Speaker 4: and national security at every stop. Maybe we should get

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Speaker 4: behind them. So some people gave more than a dollar.

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Speaker 4: Some people, you know, gave a dollar but bought a

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Speaker 4: twenty four dollars T shirt. I mean, we're just like

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Speaker 4: and now they're coming back just like you would. Any

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Speaker 4: entrepreneur that starts an online store has got to have

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Speaker 4: a promotion. So I just it's just interesting the world

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Speaker 4: of politics versus the world of business, where where you know,

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Speaker 4: as a entrepreneur, you know, we figured out a way

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Speaker 4: without complaint. Let's figure out a way to hack this system.

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Speaker 4: And we did, and now we're off and running.

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Speaker 1: It's very expensive to run for public office, but you

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Speaker 1: come from some means.

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Speaker 5: How much of your own capital are you willing to spend.

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Speaker 3: For this campaign?

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Speaker 4: Well, I certainly don't have enough money to fund a

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Speaker 4: presidential campaign on my own. And this isn't about being

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Speaker 4: a self funder. If you're going to get a movement

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Speaker 4: going in the country where people say, we've got to

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Speaker 4: focus on the things that matter to the most the

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Speaker 4: most number of people, you've got to have a broad

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Speaker 4: base of donors. And we're grateful for those fifty thousand

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Speaker 4: plus people that have donated to our campaign. But I'm

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Speaker 4: also grateful for all the volunteers. I'm grateful that we've

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Speaker 4: got CEOs and business leaders across the country that are

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Speaker 4: working for free in our campaign because they see what

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Speaker 4: a disaster the Biden economic policy've been. They've see how

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Speaker 4: the energy policy of the Biden administration really could have

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Speaker 4: been written by China. Because what we're just going to

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Speaker 4: trade opek for dependence on China and get all of

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Speaker 4: our ev batteries from China. When they control eighty five

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Speaker 4: percent of the rare earth minerals in the world, and

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Speaker 4: if the battery is made in China, it's coming from

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Speaker 4: a plant that's powered by coal. I mean, if you

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Speaker 4: cared about the environment, you would want to have every

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Speaker 4: ounce of energy produced in our country because we do

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Speaker 4: it cleaner, better and safer than anyone to hear, and

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Speaker 4: the energy policies are powering dictators. Putin would have never

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Speaker 4: invaded Ukraine if you didn't have all of Western Europe

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Speaker 4: dependent on his energy. So we say two things. We

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Speaker 4: say innovation, not regulation. That's how we get this economy

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Speaker 4: sprinting and not crawling. And then a relative to energy policy,

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Speaker 4: we just have to start selling energy to our friends

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Speaker 4: and allies and stop buying it from our enemies.

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Speaker 3: It's just that.

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Speaker 4: Simple, and cut the red tape that would allow us

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Speaker 4: to do that, because it's an issue. National security begins

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Speaker 4: with energy security, and also it begins with border security,

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Speaker 4: and that's another area where Biden is just completely failing.

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Speaker 4: With one hundred and ten thousand overdose desks last year,

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Speaker 4: we lost the equivalent of two Vietnams in one year,

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Speaker 4: three hundred people a day. Those are sons and daughters

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Speaker 4: and nieces and nephews, and all of that is coming

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Speaker 4: from seventy percent of those or fentanyl poisonings. They're not

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Speaker 4: really overdose fentanyl poisoning coming from precursors that are coming

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Speaker 4: from China across an open border.

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Speaker 1: Governor, if we could just talk about energy for a moment,

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Speaker 1: the US is the largest oil producer in the world,

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Speaker 1: and we do bring in imports. Our top import importers

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Speaker 1: come from Canada and Mexico. We don't have anything else

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Speaker 1: coming from Russia. And the numbers from Saudi Arabia have

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Speaker 1: absolutely dwindled under from the Trump administration to the Biden administration.

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Speaker 1: At the same time, the US has now become a

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Speaker 1: supplier of really last resort given Russia's invasion of Ukraine.

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Speaker 3: Aren't those numbers good?

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Speaker 1: Don't you agree with what the Biden administration is doing?

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Speaker 3: Well, I don't. I'll tell you two reasons why I don't.

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Speaker 4: One is, at the time of the Russian invasion in Ukraine,

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Speaker 4: we were importing four hundred thousand barrels of oil a

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Speaker 4: day equivalent into the northeastern part of this country. A

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Speaker 4: lot of a dirty Russian heating oil and go take

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Speaker 4: a look in New Hampshire. They have forty one percent

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Speaker 4: of their citizens are still heating their homes with dirty

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Speaker 4: heating oil because they can't get clean natural gas from Pennsylvania,

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Speaker 4: because you can't get a pipeline permitted in this country.

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Speaker 4: They would allow Americans to get the lowest carbon, cleanest

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Speaker 4: fuel we can bought from American suppliers. So we've got

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Speaker 4: issues like that across the country. And then, of course, belatedly,

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Speaker 4: the Biden administration put sanctions on Russian oil, but the

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Speaker 4: rest of the world didn't join in with us. And

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Speaker 4: as you know, you've got the numbers in front of you, China,

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Speaker 4: who imports ten million barrels of oil a day, they're

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Speaker 4: the largest importer. They're getting Russian gas and oil at

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Speaker 4: twenty percent off. And I know every farmer in America

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Speaker 4: would like to be filling their tank with diesel at

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Speaker 4: twenty percent off, but you can't. We're paying a full

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Speaker 4: price here. But we're subsidizing China's economy and they're getting

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Speaker 4: low cost energy because of our failed sanctions.

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Speaker 1: So should we be sanctioning though Russian oil instead of

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Speaker 1: allowing this price cap the way the US has sanctions

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Speaker 1: on Iranian crude.

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Speaker 4: Well, you understand how this works. I mean, if you

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Speaker 4: sanction something and you know only less than half of

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Speaker 4: the world's economy goes with you, it's not really a sanction.

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Speaker 4: Then we're just saying like we're not going to buy it,

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Speaker 4: and then you drive the price down somewhat, But then

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Speaker 4: everybody else gets discounted oil. And then when China starts

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Speaker 4: paying for that oil and want instead of US dollars,

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Speaker 4: it further roads the dollar.

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Speaker 3: So you know, I can't defend.

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Speaker 4: How that was good. Not good for America, not good

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Speaker 4: for our economy. Again, we're subsidizing our number one competitor.

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Speaker 4: We're in a cold war with China, and we're in

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Speaker 4: a you know, we're in an actual proxy war with Russia,

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Speaker 4: and some of these some of these policies are benefiting

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Speaker 4: our adversaries.

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Speaker 2: Governor, you've said that we're in a cold war with

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Speaker 2: China line many times. How can that war be won

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Speaker 2: without it turning into an actual war without provoking Beijing

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Speaker 2: too much?

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Speaker 4: Well, it's going to take a whole a government approach.

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Speaker 4: When Ronald Reagan won the Cold War with Russia, it

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Speaker 4: was a simpler time. We got our economy rolling, and

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Speaker 4: that's how we beat him, was the US economy just

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Speaker 4: completely outstripped a centrally manned Russian economy. But the two

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Speaker 4: economies weren't very connected, and the Russian economy in terms

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Speaker 4: of actual GDP size was much smaller. Now we're in

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Speaker 4: a cold war with a country that's got the number

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Speaker 4: two economy in the world, and our economies are, you know,

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Speaker 4: interconnected in a number of different ways, and so we

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Speaker 4: have to be very thoughtful. But it's going to take

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Speaker 4: a diplomatic approach. It's going to take a you know,

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Speaker 4: an information approach, educating, educating our citizens. You know that

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Speaker 4: when you buy an electric battery, you know from China,

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Speaker 4: with your federal government subsidy and your subsidized car, your

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Speaker 4: subsidized charging station, that you may not be helping the

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Speaker 4: environment because of the way that battery was produced through

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Speaker 4: where the minerals were come from. And it's going to

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Speaker 4: take some military because the way of course, strength through peace.

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Speaker 4: If we if we present a credible threat, uh, then

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Speaker 4: it doesn't become a real war if we start showing

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Speaker 4: the kind of weakness that we you know, winked and

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Speaker 4: signaled after the withdrawal from Afghanistan and with Biden's comments

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Speaker 4: that basically green lighted Putin and you know all of

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Speaker 4: you know, the Russian mafia crowd that is running Russia

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Speaker 4: to invade Ukraine. We can't do that with China, and

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Speaker 4: so we have to stop signaling that we're not going.

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Speaker 3: To do anything.

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Speaker 4: We can't have lines in the sand that people cross

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Speaker 4: and we don't do anything. We have to be credibly

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Speaker 4: and then economically again, the one the number one thing

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Speaker 4: that we could be having into New Dick's uhion with

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Speaker 4: China about it's actually about energy, and we've got you know,

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Speaker 4: blinking Yellen and Kerry over there talking about, you know,

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Speaker 4: how to shut down the US energy and have us

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Speaker 4: become more dependent on China as opposed to having a

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Speaker 4: different discussion where we would be decoupling ourselves from being.

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Speaker 3: Dependent on China.

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Speaker 2: And finally, governor, on the subject of the largest economy

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Speaker 2: in the world, the US economy, and the stewards of it.

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Speaker 2: Former President Trump just in the last hour has said

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Speaker 2: he wouldn't appoint Jerome pal to another term as FED chair,

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Speaker 2: would you.

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Speaker 4: Well, I'm not going to speculate about appointments, you know,

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Speaker 4: going forward, but I would say, you know, during my

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Speaker 4: career as a young entrepreneur, at an opportunity to serve

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Speaker 4: on the ninth District Federal Advisory Board. And there's a

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Speaker 4: lot of things the FED does well. It's an important institution,

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Speaker 4: you know, created in nineteen fourteen in our country after

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Speaker 4: Theodore Roosevelt and JP Morgan.

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Speaker 3: The two of them averted.

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Speaker 4: A financial crisis in our country using JP Morgan's balance sheet.

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Speaker 4: So the FED plays an important role. But you know,

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Speaker 4: right now, I mean, we can keep raising interest rates,

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Speaker 4: but with all this Biden infrastructure money coming. As a

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Speaker 4: state I see it as governor, you can choke off

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Speaker 4: all of the development on the private sector. I mean anything,

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Speaker 4: nothing will pencil out if the interest rates are too

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Speaker 4: high and the supply chain costs or too much, whether

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Speaker 4: it's you know, multifamily housing or whether it's single family housing,

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Speaker 4: or whether it's a new commercial building which we've got

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Speaker 4: too much of. You know, you could choke all that

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Speaker 4: to a stop. And guess what they're shoving all this

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Speaker 4: infrastructure money at states and so in a place like

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Speaker 4: North Dakota where we've got a short construction season and

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Speaker 4: we've got federal dollars sitting there. We can't say we're

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Speaker 4: not going to fix any roads this year. But if

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Speaker 4: it's thirty percent higher, that's what everything came back the spring,

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Speaker 4: and all the bids thirty percent higher. We build seventy

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Speaker 4: miles a road instead of one hundred, and we're sucking

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Speaker 4: up labor and steal and concrete to work on those

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Speaker 4: roads and competing with the private sector. And so I

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Speaker 4: don't know how the Biden administration thought they could shove

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Speaker 4: a trillion dollars of infrastructure at states that don't care

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Speaker 4: if it pencils out and think that that wasn't going

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Speaker 4: to create inflation or create competition. So we could end

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Speaker 4: up with high interest rates that choke the private sector,

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Speaker 4: and we still don't solve the inflation problem.

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Speaker 2: All right, Governor, thank you very much for lending some

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Speaker 2: of your time to Bloomberg today. Joining us from New York.

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Speaker 2: We hope you'll see us here in Washington sometimes soon.

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Speaker 2: North Dakota, Governor Doug Bergham, we appreciate the time