1 00:00:02,400 --> 00:00:06,760 Speaker 1: Bloomberg Audio Studios, Podcasts, radio News. 2 00:00:07,040 --> 00:00:09,320 Speaker 2: Katie Britt of Alabama, Welcome. It's wonderful to see you. 3 00:00:09,440 --> 00:00:11,920 Speaker 1: Thank you so much. I appreciate it having me obviously 4 00:00:11,960 --> 00:00:14,280 Speaker 1: being here and getting to be in front of your audience. 5 00:00:14,360 --> 00:00:16,360 Speaker 2: Well, for sure, we have a lot of questions for you. 6 00:00:16,680 --> 00:00:18,360 Speaker 2: That was a big moment for you last night. I 7 00:00:18,520 --> 00:00:20,239 Speaker 2: was if you want to reflect on that, because that 8 00:00:20,360 --> 00:00:23,840 Speaker 2: was a big crowd. We keep hearing it's only weeks 9 00:00:23,840 --> 00:00:28,159 Speaker 2: ago that you were on every short right to be 10 00:00:28,680 --> 00:00:31,120 Speaker 2: Donald Trump's running mate. We now know it's Jade Vance. 11 00:00:31,200 --> 00:00:34,080 Speaker 2: Clearly you're supporting him. He's being framed as the future 12 00:00:34,720 --> 00:00:39,159 Speaker 2: of MAGA, the future of the Republican Party. Yeah, and 13 00:00:39,240 --> 00:00:41,040 Speaker 2: the future of our To get that way as another 14 00:00:41,120 --> 00:00:43,400 Speaker 2: young lawmaker, this agenda. 15 00:00:43,040 --> 00:00:46,279 Speaker 1: For so first off, when you talk about last night, 16 00:00:46,440 --> 00:00:50,280 Speaker 1: what an electric moment, I mean to walk on that stage, 17 00:00:50,440 --> 00:00:55,200 Speaker 1: to feel the energy and the arena people are coming together, 18 00:00:55,360 --> 00:00:57,760 Speaker 1: not just our party, but you can feel people coming 19 00:00:57,760 --> 00:01:00,240 Speaker 1: together across the nation. And so to get to be 20 00:01:00,280 --> 00:01:01,640 Speaker 1: a part of that, to get to be a part 21 00:01:01,760 --> 00:01:05,120 Speaker 1: of telling our party story, talking about the message, the 22 00:01:05,160 --> 00:01:08,360 Speaker 1: message of helping hard working Americans, helping parents, putting them 23 00:01:08,400 --> 00:01:11,440 Speaker 1: back into the driver's seat. It was an honor and 24 00:01:11,480 --> 00:01:14,280 Speaker 1: it was an amazing just it was an amazing evening 25 00:01:14,840 --> 00:01:18,840 Speaker 1: for JD. I am so excited for JD. So we 26 00:01:18,959 --> 00:01:22,679 Speaker 1: are freshman classmates, and in that Wesley and I are 27 00:01:22,760 --> 00:01:25,400 Speaker 1: now not just only proud for me to be able 28 00:01:25,440 --> 00:01:27,640 Speaker 1: to call JD a colleague, but proud to call he 29 00:01:27,760 --> 00:01:30,880 Speaker 1: and Usha friends. So the freshmen get together once a 30 00:01:30,880 --> 00:01:33,720 Speaker 1: month for dinner, and it has given us an opportunity 31 00:01:34,120 --> 00:01:37,039 Speaker 1: not just to only talk you know, policy or procedure 32 00:01:37,120 --> 00:01:39,760 Speaker 1: or even personnel issues, but to really get to know 33 00:01:39,800 --> 00:01:43,240 Speaker 1: each other as people. And when America hears his story, 34 00:01:43,440 --> 00:01:47,400 Speaker 1: when they learned that he truly has lived the American dream, 35 00:01:47,480 --> 00:01:51,280 Speaker 1: he pulled himself up. I mean, he fought through the unimaginable. 36 00:01:51,480 --> 00:01:53,120 Speaker 1: When you look at his service to the nation, when 37 00:01:53,160 --> 00:01:54,560 Speaker 1: you look at where he is, when you look at 38 00:01:54,600 --> 00:01:58,880 Speaker 1: his vision for moving forward, the dynamic bringing he and 39 00:01:58,920 --> 00:02:02,080 Speaker 1: Trump together is going to be incredible for the forgotten 40 00:02:02,080 --> 00:02:04,960 Speaker 1: men and women of America, for parents. I think he 41 00:02:05,080 --> 00:02:08,360 Speaker 1: will bring a renewed energy to what we're doing, and 42 00:02:08,400 --> 00:02:11,720 Speaker 1: it's going to be exciting to see this continue to 43 00:02:11,760 --> 00:02:13,720 Speaker 1: move forward. Than when in November and then what we're 44 00:02:13,760 --> 00:02:15,280 Speaker 1: able to do starting in January. 45 00:02:15,320 --> 00:02:17,760 Speaker 3: Well, as you speak of his vision moving forward, obviously 46 00:02:17,800 --> 00:02:20,200 Speaker 3: you have a closer seat than most in getting some 47 00:02:20,280 --> 00:02:22,360 Speaker 3: insight into his visions. You also sit with him on 48 00:02:22,400 --> 00:02:23,240 Speaker 3: the Banking Committee. 49 00:02:23,280 --> 00:02:25,000 Speaker 1: Yes, we set shoulder to shoulder on the banking And 50 00:02:25,040 --> 00:02:25,639 Speaker 1: a number. 51 00:02:25,440 --> 00:02:27,960 Speaker 3: Of policies that Jadevance has advocated for when we think 52 00:02:28,000 --> 00:02:30,680 Speaker 3: about these kind of populist ideas, include things like higher 53 00:02:30,720 --> 00:02:33,280 Speaker 3: tariffs and knowing that in the Banking Committee right now, 54 00:02:33,320 --> 00:02:37,600 Speaker 3: you spend so much time talking about high inflation and 55 00:02:37,639 --> 00:02:40,520 Speaker 3: the cost everyday people are struggling with how do you 56 00:02:40,600 --> 00:02:43,280 Speaker 3: explain to voters the effect tariffs are going to have 57 00:02:43,360 --> 00:02:45,560 Speaker 3: on those costs, knowing that they are likely going to 58 00:02:45,639 --> 00:02:46,560 Speaker 3: drive them higher. 59 00:02:46,680 --> 00:02:48,680 Speaker 1: Well, look and every time, and you can go back 60 00:02:48,680 --> 00:02:50,320 Speaker 1: and look at jd every time he is on the 61 00:02:50,320 --> 00:02:53,240 Speaker 1: Banking Committee, every time he has an opportunity, he uses 62 00:02:53,280 --> 00:02:56,200 Speaker 1: his five minutes to fight for hard working Americans. He 63 00:02:56,280 --> 00:02:58,600 Speaker 1: drives it down to how is this affecting main street? 64 00:02:58,680 --> 00:03:01,000 Speaker 1: How is this affecting workers? How is this affecting people 65 00:03:01,040 --> 00:03:03,520 Speaker 1: trying to achieve the American dream? And the truth is 66 00:03:03,600 --> 00:03:07,400 Speaker 1: we know that places like China, people like the Chinese 67 00:03:07,400 --> 00:03:10,880 Speaker 1: Communist Party have undercut the American worker at every turn. 68 00:03:11,160 --> 00:03:15,360 Speaker 1: So whether it is Alabama shrimpers or steel manufacturers, whether 69 00:03:15,400 --> 00:03:19,359 Speaker 1: it is stealing our intellectual property, what they're doing essentially 70 00:03:19,400 --> 00:03:24,320 Speaker 1: stealing American wages and opportunity is real. And so we've 71 00:03:24,320 --> 00:03:26,560 Speaker 1: seen this in the last Trump administration, I mean, looked 72 00:03:26,560 --> 00:03:29,960 Speaker 1: at our agriculture industry as they allowed President Trump to 73 00:03:30,000 --> 00:03:33,480 Speaker 1: work to create a fair playing field for them. And 74 00:03:33,600 --> 00:03:38,040 Speaker 1: so I am excited to actually take policies then drive 75 00:03:38,120 --> 00:03:41,000 Speaker 1: them down to like how do they affect America? How 76 00:03:41,000 --> 00:03:45,080 Speaker 1: do they affect opportunity? Here? Making sure that we're putting Americans, 77 00:03:45,120 --> 00:03:50,360 Speaker 1: American manufacturing, American capability at the forefront of every conversation, 78 00:03:50,440 --> 00:03:53,160 Speaker 1: because look, when you go back to COVID, if we 79 00:03:53,280 --> 00:03:55,840 Speaker 1: learn nothing else, it's that we need to secure our 80 00:03:55,880 --> 00:03:59,080 Speaker 1: supply chains. And part of that comes from making sure 81 00:03:59,080 --> 00:04:02,040 Speaker 1: that we're strategic and that we're intentional. And I think 82 00:04:02,080 --> 00:04:04,000 Speaker 1: you'll see that with JD and you'll see that obviously 83 00:04:04,040 --> 00:04:04,760 Speaker 1: with President Trump. 84 00:04:04,840 --> 00:04:07,080 Speaker 3: And if the result of that is higher cost, that's 85 00:04:07,400 --> 00:04:08,520 Speaker 3: a price that needs well. 86 00:04:08,600 --> 00:04:10,480 Speaker 1: I mean, I think you'll see wages rise, and I 87 00:04:10,480 --> 00:04:13,280 Speaker 1: think that you'll see opportunity rise as well, and as 88 00:04:13,320 --> 00:04:15,480 Speaker 1: we obviously work through all of these things, as we 89 00:04:15,560 --> 00:04:18,119 Speaker 1: work to drive down inflation, as we work to create 90 00:04:18,160 --> 00:04:21,760 Speaker 1: a better environment for workers, when we work to actually 91 00:04:21,839 --> 00:04:24,919 Speaker 1: create higher pay for them. Obviously, those things, you know, 92 00:04:25,000 --> 00:04:27,600 Speaker 1: take a minute. But I have great confidence in the 93 00:04:27,680 --> 00:04:32,239 Speaker 1: vision of President Trump and soon to be Vice President 94 00:04:32,360 --> 00:04:35,520 Speaker 1: Vance and look forward to helping move policies forward to 95 00:04:35,520 --> 00:04:36,039 Speaker 1: that effect. 96 00:04:36,320 --> 00:04:39,720 Speaker 2: We've had a lot of very credible economists join us 97 00:04:39,720 --> 00:04:41,719 Speaker 2: here on Bloomberg TV and Radio to talk to us 98 00:04:41,720 --> 00:04:45,960 Speaker 2: about the inflationary impacts of tariffs coupled with making the 99 00:04:46,000 --> 00:04:49,359 Speaker 2: Trump tax cuts permanent. If Donald Trump is re elected, 100 00:04:49,480 --> 00:04:51,960 Speaker 2: if Congress plays along, that's likely to happen as a 101 00:04:51,960 --> 00:04:54,680 Speaker 2: big debate in Washington, I realize going on right now. 102 00:04:54,680 --> 00:04:57,520 Speaker 2: But the question then becomes, ready get cut and without 103 00:04:57,600 --> 00:05:01,400 Speaker 2: getting into the entitlements like Medicare and Social Security, which. 104 00:05:01,960 --> 00:05:03,400 Speaker 1: Trump has said he you will not. 105 00:05:03,640 --> 00:05:05,760 Speaker 2: So we're just kind of nibble around the edges here 106 00:05:05,839 --> 00:05:08,320 Speaker 2: right There is the potential to add trillions to our death. 107 00:05:08,839 --> 00:05:11,480 Speaker 1: So look, we are thirty four point five trillion dollars 108 00:05:11,480 --> 00:05:14,080 Speaker 1: in debt. In my personal opinion is that that's not 109 00:05:14,120 --> 00:05:17,599 Speaker 1: only fiscally irresponsible, that's morally irresponsible, and so we've got 110 00:05:17,600 --> 00:05:19,240 Speaker 1: to take a look at spending. We've got to take 111 00:05:19,279 --> 00:05:20,880 Speaker 1: a look at how we do this all together. And 112 00:05:20,920 --> 00:05:22,840 Speaker 1: I understand there are going to be pieces of this 113 00:05:22,920 --> 00:05:24,839 Speaker 1: that we actually have to take a look at. So 114 00:05:24,960 --> 00:05:27,599 Speaker 1: right now we're talking about ideas. When you put the 115 00:05:27,680 --> 00:05:29,560 Speaker 1: plan on paper, that's when we need to take a 116 00:05:29,600 --> 00:05:31,960 Speaker 1: look at, like how do these things work together. I 117 00:05:32,000 --> 00:05:35,159 Speaker 1: say continually, a lot of times, particularly in government, we 118 00:05:35,200 --> 00:05:37,320 Speaker 1: don't take a look at how things overlap and then 119 00:05:37,360 --> 00:05:39,279 Speaker 1: take a look at the triple down effect of those 120 00:05:39,720 --> 00:05:42,159 Speaker 1: We must do that look. I am on the Appropriations 121 00:05:42,160 --> 00:05:45,520 Speaker 1: Committee in addition to the Banking Committee. It is frustrating 122 00:05:45,560 --> 00:05:48,360 Speaker 1: to me, you know, the Appropriations Committee, which is obviously 123 00:05:48,360 --> 00:05:52,039 Speaker 1: our discretionary spending, is now only twenty eight percent of 124 00:05:52,040 --> 00:05:55,000 Speaker 1: what we spend. Mandatory spending has eaten it up. We're 125 00:05:55,040 --> 00:05:58,640 Speaker 1: about I think seventy two percent mandatory spending. Eleven percent 126 00:05:58,680 --> 00:06:00,599 Speaker 1: of that is actually interest on the debt, which is 127 00:06:00,600 --> 00:06:02,680 Speaker 1: the first time it's actually been higher than what we 128 00:06:02,760 --> 00:06:06,800 Speaker 1: spend on our defense capabilities. Any nation that has hit 129 00:06:06,880 --> 00:06:09,719 Speaker 1: that point, as you know and have well read, begins 130 00:06:09,760 --> 00:06:11,880 Speaker 1: a downclient. So we have to have a serious conversation 131 00:06:11,920 --> 00:06:14,279 Speaker 1: about all of these things. What we do know is 132 00:06:14,279 --> 00:06:16,479 Speaker 1: that we've got to find a way to put America's 133 00:06:16,680 --> 00:06:21,080 Speaker 1: America first, put American workers first, put American families first. 134 00:06:21,240 --> 00:06:23,960 Speaker 1: We live in a global market. That is clear. That's 135 00:06:23,960 --> 00:06:27,240 Speaker 1: something that is obviously important. But I don't think that 136 00:06:27,279 --> 00:06:30,440 Speaker 1: we are taking time to drill down on these things independently. 137 00:06:30,800 --> 00:06:32,680 Speaker 1: And to your point, you're right, we're going to have 138 00:06:32,760 --> 00:06:35,080 Speaker 1: to look at how do these things overlap, and then 139 00:06:35,080 --> 00:06:37,719 Speaker 1: what do we do moving forward. Those are serious conversations 140 00:06:37,720 --> 00:06:40,120 Speaker 1: we have to have. I have confidence that President Trump 141 00:06:40,160 --> 00:06:42,479 Speaker 1: will put a good plan together and we'll be able 142 00:06:42,480 --> 00:06:44,000 Speaker 1: to work diligently to get it through the House. 143 00:06:44,040 --> 00:06:47,200 Speaker 3: In the Senate, right, Republican Senator Katie Britt of Alabama. 144 00:06:47,279 --> 00:06:49,440 Speaker 3: Great to see you here in Milwaukee. Hopefully we'll thank 145 00:06:49,440 --> 00:06:52,240 Speaker 3: thank you for having me back in Washington. We appreciate it.