1 00:00:02,120 --> 00:00:06,640 Speaker 1: Now from our nation's capital. This is Bloomberg Sound On, 2 00:00:07,560 --> 00:00:10,760 Speaker 1: So one more time, House Republicans show us your plans. 3 00:00:10,800 --> 00:00:12,880 Speaker 1: We owe it to the American people to get to 4 00:00:12,920 --> 00:00:16,880 Speaker 1: the bottom of the greatest there of American taxpayer dollars 5 00:00:17,000 --> 00:00:20,040 Speaker 1: in history. This is about the stupidest bill I've ever seen, 6 00:00:20,480 --> 00:00:24,960 Speaker 1: Just the stupid, stupid, stupid bill. Bloomberg Sound On, Politics, 7 00:00:25,040 --> 00:00:29,560 Speaker 1: Policy and Perspective from DC's top names. We can negotiate 8 00:00:29,640 --> 00:00:32,120 Speaker 1: on the budget going forward and what we're going to spend. 9 00:00:32,159 --> 00:00:34,879 Speaker 1: What we can't negotiate on is paying the bills that 10 00:00:34,920 --> 00:00:37,920 Speaker 1: we have do from Democrats are trying to rewrite history 11 00:00:38,200 --> 00:00:42,240 Speaker 1: and pretend that Republican demands for negotiations are a news 12 00:00:42,520 --> 00:00:47,839 Speaker 1: Bloomberg Sound On with Joe Matthew on Bloomberg Radio. No 13 00:00:48,040 --> 00:00:50,599 Speaker 1: rate cuts this year, so says the Fed share as 14 00:00:50,600 --> 00:00:53,319 Speaker 1: President Biden the Speaker of the House, stare down over 15 00:00:53,360 --> 00:00:56,840 Speaker 1: the debt ceiling. All today in Washington. Welcome to the 16 00:00:56,880 --> 00:01:00,279 Speaker 1: fastest hour in politics, with two storylines unfolding at once. 17 00:01:00,320 --> 00:01:03,960 Speaker 1: We're joined by Bloomberg Economics editor Michael McKee and Terry 18 00:01:04,000 --> 00:01:08,400 Speaker 1: Haynes of Pangaea Policy. And there is another NICKI Hayley 19 00:01:08,440 --> 00:01:11,320 Speaker 1: Sets who announced a run for the Republican presidential nomination. 20 00:01:11,360 --> 00:01:13,760 Speaker 1: We'll have more on that with Bloomberg's Josh Green and 21 00:01:13,840 --> 00:01:17,720 Speaker 1: from our panel. Bloomberg political contributor of Democratic analyst Jennie 22 00:01:17,720 --> 00:01:21,600 Speaker 1: Schanzano is here along with Republican strategist Lisa Kamuso Miller, 23 00:01:21,920 --> 00:01:25,559 Speaker 1: former communications director for the r n C. Twin storylines 24 00:01:25,600 --> 00:01:28,760 Speaker 1: coming out of Washington today, as President Biden meets with 25 00:01:28,800 --> 00:01:31,360 Speaker 1: the Speaker of the House, the big sit down with 26 00:01:31,440 --> 00:01:34,119 Speaker 1: Kevin McCarthy on the debt ceiling, and as you heard 27 00:01:34,120 --> 00:01:36,560 Speaker 1: from Charlie, the FED rapping its two day meeting. J 28 00:01:36,680 --> 00:01:40,119 Speaker 1: Powell telling reporters not planning any rate cuts this year, 29 00:01:40,200 --> 00:01:42,520 Speaker 1: no matter what the markets seems to think, given our outlook, 30 00:01:42,520 --> 00:01:44,680 Speaker 1: I just I don't see us cutting rates this year 31 00:01:44,720 --> 00:01:47,240 Speaker 1: if we get our of our outlook terms true as 32 00:01:47,280 --> 00:01:49,520 Speaker 1: I mentioned just now, if if we do see inflation 33 00:01:49,560 --> 00:01:52,440 Speaker 1: coming down much more quickly, that'll that'll play into our 34 00:01:52,480 --> 00:01:55,400 Speaker 1: policy saying, of course. Fresh from that news conference is 35 00:01:55,440 --> 00:01:59,280 Speaker 1: Bloomberg Economics editor Michael McKee. Professor McKee, welcome backs, good 36 00:01:59,280 --> 00:02:02,600 Speaker 1: to see again, and nice to be here. Nice to 37 00:02:02,640 --> 00:02:05,520 Speaker 1: be with the Professor Powell, well, indeed, no rate cuts 38 00:02:05,600 --> 00:02:08,799 Speaker 1: then this year. So is the market wrong or is 39 00:02:08,880 --> 00:02:11,240 Speaker 1: J Powell just waiting for the right data to catch up. 40 00:02:12,960 --> 00:02:16,880 Speaker 1: The pen has been very uh consistent in saying they 41 00:02:16,919 --> 00:02:19,160 Speaker 1: aren't going to be cutting rates this year. Their belief 42 00:02:19,280 --> 00:02:22,080 Speaker 1: is they need to leave rates higher for longer throughout 43 00:02:22,160 --> 00:02:24,639 Speaker 1: the year in order to get the job done, which 44 00:02:24,720 --> 00:02:27,720 Speaker 1: to them is getting inflation down close to two percent. 45 00:02:28,360 --> 00:02:30,919 Speaker 1: The market I think is looking at while we're getting 46 00:02:31,000 --> 00:02:33,520 Speaker 1: close to a three percent run rate and that's good 47 00:02:33,639 --> 00:02:36,239 Speaker 1: enough and the Fed can then back off. Uh, And 48 00:02:36,400 --> 00:02:38,720 Speaker 1: Paul made it clear that the Fed doesn't want to 49 00:02:38,760 --> 00:02:41,760 Speaker 1: back off, but he said inflation has come down faster 50 00:02:41,840 --> 00:02:45,959 Speaker 1: than we thought and if that happens. Uh. He couldn't 51 00:02:46,120 --> 00:02:49,400 Speaker 1: rule out a rate cut if if things work out 52 00:02:49,480 --> 00:02:52,520 Speaker 1: really well as the markets expect, but he said, um, 53 00:02:52,880 --> 00:02:56,160 Speaker 1: well that's not our view right now. Markets can change 54 00:02:56,200 --> 00:03:00,440 Speaker 1: their views constantly, and the Fed only meets every six 55 00:03:00,520 --> 00:03:03,320 Speaker 1: weeks six eight weeks, so he said, you know, we 56 00:03:03,440 --> 00:03:06,600 Speaker 1: have a different job. Michael mckith, thank you. By the way. 57 00:03:06,680 --> 00:03:08,720 Speaker 1: J Powell did not comment today when asked about the 58 00:03:08,760 --> 00:03:13,679 Speaker 1: debt ceiling debate. Surely he would be asked, and it 59 00:03:13,800 --> 00:03:15,400 Speaker 1: was the main topic on the menu for the big 60 00:03:15,480 --> 00:03:18,320 Speaker 1: meeting today only blocks away at the White House, President 61 00:03:18,400 --> 00:03:21,560 Speaker 1: Biden and Speaker McCarthy, both sides, of course digging in 62 00:03:21,639 --> 00:03:23,600 Speaker 1: the past couple of weeks here the meeting just added. 63 00:03:23,639 --> 00:03:26,000 Speaker 1: A short time ago, the Speaker came out to the 64 00:03:26,040 --> 00:03:29,160 Speaker 1: reporter's stake out in the driveway. You know what, the President, 65 00:03:29,200 --> 00:03:32,679 Speaker 1: I had a good first meeting. UM. I shared my 66 00:03:32,800 --> 00:03:36,120 Speaker 1: perspective with him, he shared his, and we can We 67 00:03:36,240 --> 00:03:40,280 Speaker 1: agreed to continue the conversation. UM, we want to make 68 00:03:40,320 --> 00:03:43,960 Speaker 1: sure we do this in a responsible, reasonable way, and uh, 69 00:03:44,160 --> 00:03:52,920 Speaker 1: we'll be talking again. I think our first meeting was 70 00:03:52,960 --> 00:03:54,360 Speaker 1: a good meeting. I don't I don't want to put 71 00:03:54,360 --> 00:03:58,280 Speaker 1: it in any false perspectives that we we both have 72 00:03:58,440 --> 00:04:02,160 Speaker 1: different perspectives on this, but I thought this was a 73 00:04:02,240 --> 00:04:06,040 Speaker 1: good meeting. We promised we would continue the conversation. We'll 74 00:04:06,040 --> 00:04:07,320 Speaker 1: see if we can get there. I think at the 75 00:04:07,400 --> 00:04:10,080 Speaker 1: end of the day we can find common ground. Really 76 00:04:10,120 --> 00:04:13,240 Speaker 1: give to Josh wind Grove from Bloomberg's White House team 77 00:04:13,240 --> 00:04:15,760 Speaker 1: there on the driveway with the question on the odds 78 00:04:15,800 --> 00:04:17,839 Speaker 1: of default. Now, this went on for a couple of minutes, 79 00:04:18,920 --> 00:04:21,240 Speaker 1: and Kevin McCarthy, who you know, of course, was talking 80 00:04:21,279 --> 00:04:23,680 Speaker 1: a big game going into this meeting, and I'm sure 81 00:04:23,720 --> 00:04:27,680 Speaker 1: we'll continue to was sounding pretty optimistic, looked like he 82 00:04:27,800 --> 00:04:31,880 Speaker 1: just you know, came from a gratifying session in the 83 00:04:31,920 --> 00:04:35,840 Speaker 1: Oval Office. And when you read Terry Haines note to 84 00:04:35,920 --> 00:04:38,400 Speaker 1: clients going into this meeting, and this, by the way, 85 00:04:38,440 --> 00:04:41,080 Speaker 1: at the FED meeting and the White House meeting kind 86 00:04:41,120 --> 00:04:46,160 Speaker 1: of laid out two options here. The positive consensus from 87 00:04:46,240 --> 00:04:48,560 Speaker 1: the Fed. I'm guessing we got that at least nothing 88 00:04:48,640 --> 00:04:52,040 Speaker 1: big change. They still are pointing to the soft landing up. 89 00:04:52,440 --> 00:04:56,920 Speaker 1: As Terry writes, Biden McCarthy choose broadly soothing words while 90 00:04:56,960 --> 00:05:02,000 Speaker 1: staking out opening negotiating physicians. The alternative would be not good. 91 00:05:02,920 --> 00:05:05,480 Speaker 1: I think fifty basis points if we were talking about 92 00:05:05,520 --> 00:05:08,600 Speaker 1: that now or in angry Kevin McCarthy yet at the stakeout. 93 00:05:09,080 --> 00:05:11,599 Speaker 1: Terry Haynes, of course, founder of Pangia Policy. I guess 94 00:05:11,640 --> 00:05:14,440 Speaker 1: we had a pretty good day in Washington then, Terry, Hey, 95 00:05:14,480 --> 00:05:17,520 Speaker 1: good afternoon, Joe. Uh. I think the markets had a 96 00:05:17,600 --> 00:05:19,800 Speaker 1: better day to day anticipated, and I think on the 97 00:05:19,839 --> 00:05:23,400 Speaker 1: political side, uh, probably a pretty good day too. You know, 98 00:05:23,560 --> 00:05:27,720 Speaker 1: the without be laboring the excellent coverage on Bloomberg this 99 00:05:27,880 --> 00:05:31,839 Speaker 1: afternoon what market Scott was personally what they sought. Secondly, 100 00:05:32,040 --> 00:05:36,599 Speaker 1: this acknowledgement of uh disinflationary might have started to begin, 101 00:05:37,279 --> 00:05:39,720 Speaker 1: uh you know, provide some extra happy talk as well 102 00:05:39,880 --> 00:05:42,800 Speaker 1: some head scratching about what the message really was on 103 00:05:42,880 --> 00:05:44,680 Speaker 1: the debt ceiling stuff. I mean from you know, from 104 00:05:44,800 --> 00:05:47,359 Speaker 1: McCarthy and McCarthy I think has been trying to push 105 00:05:47,440 --> 00:05:52,160 Speaker 1: the idea that what what they seek, which was a 106 00:05:52,279 --> 00:05:56,039 Speaker 1: linking of the debt ceiling debt limit, was some kind 107 00:05:56,080 --> 00:05:59,440 Speaker 1: of spending restraint is a responsible position. A lot of 108 00:05:59,480 --> 00:06:01,720 Speaker 1: Americans agree with that. So, you know, they had a 109 00:06:01,760 --> 00:06:04,880 Speaker 1: good first meeting and uh, nobody's shaking in their boots. 110 00:06:05,200 --> 00:06:08,320 Speaker 1: Wouldn't be uncommon, you know, for the Republican speaker to 111 00:06:08,400 --> 00:06:10,400 Speaker 1: come out of the White House and trash the meeting 112 00:06:10,600 --> 00:06:14,120 Speaker 1: or you know, changes tune. We've seen this before with 113 00:06:14,320 --> 00:06:18,600 Speaker 1: other speakers and other presidents, uh, you know, of opposing 114 00:06:18,680 --> 00:06:21,440 Speaker 1: parties here, Terry, do you get a sense that things 115 00:06:21,880 --> 00:06:24,200 Speaker 1: actually feel a bit more optimistic. He's talking about a 116 00:06:24,279 --> 00:06:27,520 Speaker 1: two year deal, get it done ahead of time, common ground. 117 00:06:27,960 --> 00:06:30,560 Speaker 1: It doesn't really sound like that. Kevin McCarthy, who was 118 00:06:30,680 --> 00:06:33,520 Speaker 1: holding a news briefing in the US House about a 119 00:06:33,560 --> 00:06:37,800 Speaker 1: week ago. Well, I think that I think it's the 120 00:06:37,880 --> 00:06:41,080 Speaker 1: Speaker McCarthy's you know, I was assuming he's he's reading 121 00:06:41,160 --> 00:06:44,600 Speaker 1: the reading the meeting correctly. I think it's uh. I 122 00:06:44,680 --> 00:06:48,159 Speaker 1: think it's very much in Speaker McCarthy's interest to come 123 00:06:48,160 --> 00:06:51,080 Speaker 1: out and be conciliatory. Leave it up to the White 124 00:06:51,120 --> 00:06:56,880 Speaker 1: House to continue the known negotiations. Point because everybody else 125 00:06:56,920 --> 00:07:00,360 Speaker 1: in Washington is saying Democrats and Republicans, of course, Cercuslyn 126 00:07:00,440 --> 00:07:03,520 Speaker 1: have to be some negotiations uh in the end. And 127 00:07:03,760 --> 00:07:05,320 Speaker 1: you know, my own view of this is that what 128 00:07:05,480 --> 00:07:07,520 Speaker 1: you end up having is you end up having the 129 00:07:07,640 --> 00:07:13,080 Speaker 1: centrists in in my four faction world in Washington, end 130 00:07:13,120 --> 00:07:15,920 Speaker 1: up having a centrist Democrats in the center's Republicans trying 131 00:07:15,920 --> 00:07:19,240 Speaker 1: to put something together, and indeed they already are so uh. 132 00:07:19,480 --> 00:07:22,200 Speaker 1: But that said, this is this is gonna go uh 133 00:07:22,440 --> 00:07:25,840 Speaker 1: to the the time that is allotted to it. So 134 00:07:25,920 --> 00:07:27,520 Speaker 1: we're not going to see a final deal on this 135 00:07:28,000 --> 00:07:30,680 Speaker 1: until summer. I think. Yeah, So you laugh at the 136 00:07:30,800 --> 00:07:33,800 Speaker 1: two years and ahead of schedule idea. Um, I think 137 00:07:33,840 --> 00:07:36,040 Speaker 1: he's I think he's right tactically to to say that. 138 00:07:36,120 --> 00:07:39,120 Speaker 1: At the same time. I don't think we're atty closer 139 00:07:39,160 --> 00:07:41,360 Speaker 1: to a deal now than we were. Well, you do 140 00:07:41,480 --> 00:07:43,680 Speaker 1: wonder you know, is he gonna get an earful at 141 00:07:43,760 --> 00:07:45,560 Speaker 1: least from about twenty of his members when he goes 142 00:07:45,600 --> 00:07:47,200 Speaker 1: back to the House. What are you doing fulling around 143 00:07:47,200 --> 00:07:50,480 Speaker 1: with Joe Biden at the White House? Mr? Speak, Well, 144 00:07:50,560 --> 00:07:52,760 Speaker 1: he might uh, and the response is, hey, look, you 145 00:07:52,800 --> 00:07:56,120 Speaker 1: know we Uh. Response from him anyway is hey, look, 146 00:07:56,160 --> 00:07:58,160 Speaker 1: we have to we have to discuss this with them. 147 00:07:58,800 --> 00:08:01,880 Speaker 1: What you say, you aunt, is UH is some kind 148 00:08:01,920 --> 00:08:04,360 Speaker 1: of a spending restraint. Uh. That's what we're going to 149 00:08:04,400 --> 00:08:06,200 Speaker 1: try to get here. And if we can get that, great, 150 00:08:06,200 --> 00:08:08,000 Speaker 1: and if not, then you know, we're gonna have some 151 00:08:08,200 --> 00:08:11,559 Speaker 1: hard conversations. Terry Haynes. I know j. Powell isn't running 152 00:08:11,640 --> 00:08:14,920 Speaker 1: the Treasury Department, but surely he's concerned about this. He 153 00:08:15,440 --> 00:08:18,360 Speaker 1: did not answer the question. Probably smart on his behalf. 154 00:08:18,400 --> 00:08:20,000 Speaker 1: He's got enough to deal with in the parsing of 155 00:08:20,040 --> 00:08:22,200 Speaker 1: words coming out of the Fed. Shery doesn't want to 156 00:08:22,200 --> 00:08:26,440 Speaker 1: compete with commentary from Janet Yellen, but it makes it 157 00:08:26,520 --> 00:08:29,040 Speaker 1: pretty difficult to set the course here and and and 158 00:08:29,280 --> 00:08:32,880 Speaker 1: get a real accurate forecast on the year ahead when 159 00:08:32,920 --> 00:08:36,400 Speaker 1: you have potential for a default. Well, that's very true, 160 00:08:36,480 --> 00:08:39,439 Speaker 1: you know, And I'm I'm kind of non consensus that 161 00:08:39,559 --> 00:08:43,840 Speaker 1: the risk here will end up being by summer, precisely 162 00:08:43,920 --> 00:08:47,760 Speaker 1: because I see a great amount of political brinksmanship going 163 00:08:47,800 --> 00:08:50,959 Speaker 1: on on both sides. I thought Pal was phrased it 164 00:08:51,320 --> 00:08:54,360 Speaker 1: a very puckish way by saying that, you know, he's 165 00:08:54,360 --> 00:08:57,040 Speaker 1: really the Treasury's fiscal agent here. But you know, what 166 00:08:57,160 --> 00:09:00,400 Speaker 1: he did underscore was fundamentally that it would be a 167 00:09:00,480 --> 00:09:02,160 Speaker 1: very very bad idea, you know. And there's a lot 168 00:09:02,200 --> 00:09:05,040 Speaker 1: of ideas as you well know, thrown around on all 169 00:09:05,160 --> 00:09:07,679 Speaker 1: sides about well, you know, it really wouldn't be that 170 00:09:07,800 --> 00:09:10,719 Speaker 1: bad if they had faulted, because well, you know, no 171 00:09:11,200 --> 00:09:13,880 Speaker 1: Marcrets won't consider it that way politically. There will be 172 00:09:13,920 --> 00:09:16,560 Speaker 1: a huge amount of fallout regardless, So you know, let's 173 00:09:16,600 --> 00:09:18,640 Speaker 1: put that to uh, let's all put that to bed 174 00:09:18,720 --> 00:09:22,040 Speaker 1: and concentrate on a solution. Hey, Terry, it's been too long. 175 00:09:22,120 --> 00:09:24,080 Speaker 1: Glad you could come in and talk to us. Terry Haynes, 176 00:09:24,120 --> 00:09:26,440 Speaker 1: founder of Penji of Policy, many thanks for the insights 177 00:09:27,080 --> 00:09:29,280 Speaker 1: on a pretty wild day here in Washington, d C. 178 00:09:29,559 --> 00:09:32,720 Speaker 1: As we assemble the panel, Jeannie Schanzano is here Bloomberg 179 00:09:32,800 --> 00:09:36,480 Speaker 1: Politics contributor of course, Democratic analyst, joined today by Lisa 180 00:09:36,559 --> 00:09:39,439 Speaker 1: Kamuso Miller, former communications director for the r n C. 181 00:09:40,040 --> 00:09:42,599 Speaker 1: What did Joe Biden say to him, Genie? You know 182 00:09:42,720 --> 00:09:45,920 Speaker 1: this this seemed to be kind of a new, optimistic, 183 00:09:46,000 --> 00:09:50,920 Speaker 1: effervescent Kevin McCarthy feeling right at home out there on 184 00:09:51,000 --> 00:09:54,080 Speaker 1: the driveway of the White House. Yeah. Well, somebody described 185 00:09:54,120 --> 00:09:56,320 Speaker 1: this as, you know, like a first date. I didn't 186 00:09:56,400 --> 00:09:59,520 Speaker 1: quite see it that way, but you know, you could 187 00:09:59,559 --> 00:10:01,160 Speaker 1: think of that if you have a first date with 188 00:10:01,240 --> 00:10:04,920 Speaker 1: somebody who's threatening to investigate your son. Maybe, but you know, 189 00:10:05,080 --> 00:10:08,360 Speaker 1: I do think that, you know, Kevin McCarthy did I 190 00:10:08,520 --> 00:10:11,600 Speaker 1: think what we expected him to do. Everybody kept trying 191 00:10:11,679 --> 00:10:14,400 Speaker 1: to tamp down expectations on this. The White House was saying, 192 00:10:14,440 --> 00:10:17,319 Speaker 1: it's going to be boring, you know, no expectations this, 193 00:10:17,520 --> 00:10:19,800 Speaker 1: nothing will get resolved, as Terry was just talking about 194 00:10:19,880 --> 00:10:22,760 Speaker 1: until June. And so I think what Kevin McCarthy is 195 00:10:22,800 --> 00:10:25,040 Speaker 1: trying to say is this was a win for us 196 00:10:25,480 --> 00:10:29,319 Speaker 1: as Republicans because we wanted to negotiate. We want to 197 00:10:29,400 --> 00:10:32,680 Speaker 1: have talks, we want to engage with the other side. 198 00:10:32,880 --> 00:10:35,680 Speaker 1: And I was in the White House, and so that's 199 00:10:35,760 --> 00:10:37,559 Speaker 1: the picture he wants to put out there. But the 200 00:10:37,640 --> 00:10:40,320 Speaker 1: real question is where is the meat on what they 201 00:10:40,360 --> 00:10:42,560 Speaker 1: wanted to negotiate on. And of course we haven't seen 202 00:10:42,600 --> 00:10:44,439 Speaker 1: any of that. Well no, and of course, look there 203 00:10:44,480 --> 00:10:46,160 Speaker 1: there should be a lot of meetings. I guess if 204 00:10:46,200 --> 00:10:47,400 Speaker 1: this is the way it's going to go. But to 205 00:10:47,480 --> 00:10:49,360 Speaker 1: start off on on the right foot, I guess is 206 00:10:49,400 --> 00:10:51,319 Speaker 1: something if he's feeling good when he left here. So 207 00:10:51,440 --> 00:10:54,640 Speaker 1: the Speaker, again, we have different perspectives, but we both 208 00:10:54,760 --> 00:10:57,920 Speaker 1: laid out some of our vision of where we'd want 209 00:10:57,960 --> 00:11:00,640 Speaker 1: to get to and I believe after a both about 210 00:11:00,840 --> 00:11:02,959 Speaker 1: I can see where we can find common ground. I 211 00:11:03,040 --> 00:11:06,120 Speaker 1: think the American public would appreciate that well. Of course, 212 00:11:06,240 --> 00:11:09,560 Speaker 1: Lisa Kamusamiler though common ground respect words like this coming 213 00:11:09,600 --> 00:11:12,280 Speaker 1: out of his mouth right after this meeting, it does 214 00:11:12,360 --> 00:11:14,839 Speaker 1: give the impression that things went well. Maybe he was 215 00:11:15,320 --> 00:11:17,959 Speaker 1: I won't say wood, but you know, maybe moved a 216 00:11:18,040 --> 00:11:20,720 Speaker 1: bit by the experience of being in the Oval Office 217 00:11:20,760 --> 00:11:22,760 Speaker 1: for the first time as speaker. Is he going to 218 00:11:22,840 --> 00:11:26,000 Speaker 1: be jeered when he goes back into his house, You know, 219 00:11:26,160 --> 00:11:28,360 Speaker 1: I don't know. I mean, I think nobody benefits more 220 00:11:28,440 --> 00:11:31,079 Speaker 1: from that meeting going well in these negotiations going well 221 00:11:31,160 --> 00:11:33,800 Speaker 1: than Kevin McCarthy. But the challenge, you're absolutely right. When 222 00:11:33,800 --> 00:11:35,319 Speaker 1: he goes back to the Capitol, it's going to be 223 00:11:35,400 --> 00:11:38,200 Speaker 1: interesting to see what happens. But that said, he got 224 00:11:38,280 --> 00:11:40,480 Speaker 1: a meeting, and up until a couple of days ago, 225 00:11:40,520 --> 00:11:42,319 Speaker 1: the White House was saying they would not negotiate. So 226 00:11:42,440 --> 00:11:44,079 Speaker 1: this is I think this is a step in the 227 00:11:44,160 --> 00:11:46,559 Speaker 1: right direction. He's definitely right. I mean, this is what 228 00:11:46,640 --> 00:11:49,480 Speaker 1: the voters told us on election day that they wanted 229 00:11:49,520 --> 00:11:52,680 Speaker 1: to see. They want to see, uh, both parties get along. 230 00:11:52,720 --> 00:11:54,560 Speaker 1: They want to see action, they want to see things 231 00:11:54,600 --> 00:11:57,560 Speaker 1: get done, and getting the death ceiling right, it benefits 232 00:11:57,559 --> 00:12:01,040 Speaker 1: all of us. Let's talk about the White Houses presentation here. 233 00:12:01,080 --> 00:12:03,040 Speaker 1: Of course, you know, the President did not speak after 234 00:12:03,160 --> 00:12:05,920 Speaker 1: this meeting, Jeanie, nobody thought he would. But you know 235 00:12:06,000 --> 00:12:08,120 Speaker 1: what else didn't happen. They didn't allow reporters into the 236 00:12:08,200 --> 00:12:11,400 Speaker 1: Oval office. And here I was just assuming this when 237 00:12:11,440 --> 00:12:13,640 Speaker 1: we talked about it last evening. There'll be a pool spray. 238 00:12:14,080 --> 00:12:15,559 Speaker 1: That's kind of what you do. You bring him in 239 00:12:15,640 --> 00:12:17,760 Speaker 1: for one minute, they both say something and they yell 240 00:12:17,840 --> 00:12:19,760 Speaker 1: at you, and they pull everybody right out the door, 241 00:12:20,200 --> 00:12:22,920 Speaker 1: and reporters wanted to know what the deal was with that. 242 00:12:23,040 --> 00:12:25,520 Speaker 1: As we heard Karine Jean Pierre, the Press Secretary, asked 243 00:12:25,520 --> 00:12:27,080 Speaker 1: to Day in the briefing room. Not all the time. 244 00:12:27,200 --> 00:12:31,080 Speaker 1: The President has had many conversations, one on one conversations 245 00:12:31,120 --> 00:12:33,719 Speaker 1: with a member of Congress. Totally understand. I get the 246 00:12:33,840 --> 00:12:37,599 Speaker 1: question and understand why there is interest in this, But 247 00:12:37,720 --> 00:12:40,240 Speaker 1: we have done it many times before where we've had private, 248 00:12:40,320 --> 00:12:43,040 Speaker 1: one on one meetings with members of Congress, and not 249 00:12:43,200 --> 00:12:46,520 Speaker 1: just in this administration. We've seen it under President Trump, 250 00:12:46,600 --> 00:12:50,439 Speaker 1: We've seen it under President Obama. But look, I'm fascinated 251 00:12:50,520 --> 00:12:52,640 Speaker 1: by the decision here, Genie. They didn't want to give 252 00:12:52,720 --> 00:12:55,560 Speaker 1: Kevin McCarthy that photo, did they They did not. They 253 00:12:55,600 --> 00:12:57,520 Speaker 1: did not want to elevate him. You know, if it 254 00:12:57,640 --> 00:12:59,319 Speaker 1: was up to them, they probably would have done what 255 00:12:59,360 --> 00:13:02,160 Speaker 1: they did with Ln. Musk, Shuttle him over to another building, 256 00:13:02,280 --> 00:13:04,400 Speaker 1: have some senior staff meet him there. But of course 257 00:13:04,640 --> 00:13:07,160 Speaker 1: he is number two in line to the presidency. We 258 00:13:07,280 --> 00:13:10,959 Speaker 1: can't forget that their relationship is critical, not just on 259 00:13:11,040 --> 00:13:14,079 Speaker 1: the debt ceiling, but imagine if there's a crisis in 260 00:13:14,160 --> 00:13:16,880 Speaker 1: the United States, they are going to have to work together, 261 00:13:16,960 --> 00:13:18,920 Speaker 1: so they do need to meet in the White House. 262 00:13:19,160 --> 00:13:21,880 Speaker 1: But you know, certainly nobody working PR in the White 263 00:13:21,920 --> 00:13:24,400 Speaker 1: House was gonna say, oh, yes, now, let this break 264 00:13:24,400 --> 00:13:26,600 Speaker 1: come in, let's get some pictures so that Kevin McCarthy 265 00:13:26,679 --> 00:13:29,160 Speaker 1: can go back and tell everybody what he's done. But 266 00:13:29,320 --> 00:13:32,040 Speaker 1: I think the real questions here is how do those 267 00:13:32,200 --> 00:13:36,320 Speaker 1: never Kevin folks feel about what he is doing at 268 00:13:36,400 --> 00:13:38,080 Speaker 1: this point? And I don't think we have an answer 269 00:13:38,120 --> 00:13:39,959 Speaker 1: to that yet. Yeah, well, I mean, but we'll find 270 00:13:39,960 --> 00:13:42,440 Speaker 1: out pretty soon too. Was that a good call? Ease? 271 00:13:42,520 --> 00:13:44,360 Speaker 1: I mean, I suppose Kevin McCarthy could have been grant 272 00:13:44,400 --> 00:13:47,120 Speaker 1: standing there in front of the fireplace with Joe Biden 273 00:13:47,160 --> 00:13:50,079 Speaker 1: in the Oval office, not not even a still photo today. 274 00:13:50,880 --> 00:13:52,640 Speaker 1: I don't know, Joe. I mean, if you have the president, 275 00:13:52,760 --> 00:13:54,360 Speaker 1: you want to talk about the fact that the FBI 276 00:13:54,520 --> 00:13:56,360 Speaker 1: was in your house in Delaware. I mean, because that's 277 00:13:56,400 --> 00:13:58,280 Speaker 1: the other thing, is that if you're in PR and 278 00:13:58,360 --> 00:14:01,400 Speaker 1: you're paying attention to pretend in those conversations, you probably 279 00:14:01,440 --> 00:14:04,040 Speaker 1: want to keep those two things very separate. So if 280 00:14:04,080 --> 00:14:06,400 Speaker 1: I'm Kevin McCarthy, I'm probably happy not to be standing 281 00:14:06,440 --> 00:14:09,200 Speaker 1: next to the president while he's answering questions about documents 282 00:14:09,280 --> 00:14:11,480 Speaker 1: that are in his basement. Okay, good call, Well you 283 00:14:11,600 --> 00:14:14,559 Speaker 1: brought it up, Lisa. We apparently they found nothing. This 284 00:14:14,720 --> 00:14:18,240 Speaker 1: is they went back through the personal residents there, the 285 00:14:18,440 --> 00:14:21,760 Speaker 1: Special Council came up with nothing. Was that the right 286 00:14:21,840 --> 00:14:26,280 Speaker 1: move here to keep inviting everyone in? Well, yeah, because 287 00:14:26,320 --> 00:14:28,440 Speaker 1: the criticism has been is that they haven't been openly 288 00:14:28,480 --> 00:14:31,360 Speaker 1: and transparent. So absolutely, let people know what's going on. 289 00:14:31,800 --> 00:14:35,120 Speaker 1: But you know, like any other press conference, we might 290 00:14:35,160 --> 00:14:37,000 Speaker 1: first talk about the debt ceiling, but sooner or later 291 00:14:37,040 --> 00:14:38,520 Speaker 1: we're going to get back to the documents, and we're 292 00:14:38,520 --> 00:14:40,200 Speaker 1: gonna get back to other things that are mischief for 293 00:14:40,240 --> 00:14:42,160 Speaker 1: the White House. The White House is trying to get 294 00:14:42,240 --> 00:14:44,080 Speaker 1: themselves back on track, and they're trying to talk about 295 00:14:44,080 --> 00:14:46,680 Speaker 1: the issues that they know that they will win and 296 00:14:46,720 --> 00:14:48,600 Speaker 1: they will be successful on. In their point of view. 297 00:14:49,040 --> 00:14:51,320 Speaker 1: If you're Kevin McCarthy, I think that this is exactly 298 00:14:51,400 --> 00:14:53,359 Speaker 1: the way to go. We had a good first conversation. 299 00:14:53,520 --> 00:14:55,520 Speaker 1: Do I think that it will probably devolve into a fight. 300 00:14:55,960 --> 00:14:59,520 Speaker 1: Absolutely so. Yeah. The headline on the terminal, by the way, 301 00:14:59,600 --> 00:15:02,920 Speaker 1: no class supified documents found in FBI search Biden Beach home. 302 00:15:03,040 --> 00:15:06,120 Speaker 1: This is Rhobeth Beach. Genie, you saw this. Uh, they 303 00:15:06,200 --> 00:15:09,200 Speaker 1: went inside. They did not find classified documents, but they 304 00:15:09,240 --> 00:15:13,080 Speaker 1: did take for further review materials and some handwritten notes 305 00:15:13,120 --> 00:15:15,680 Speaker 1: I guess from his time as vice president. They were 306 00:15:15,720 --> 00:15:17,960 Speaker 1: in the House at eight thirty this morning. Does Joe 307 00:15:18,000 --> 00:15:19,800 Speaker 1: Biden need to have a news conference on this or 308 00:15:19,840 --> 00:15:22,360 Speaker 1: do you just keep saying nothing? You know? I think 309 00:15:22,480 --> 00:15:24,680 Speaker 1: his surrogates and new do need to be out there. 310 00:15:24,720 --> 00:15:26,800 Speaker 1: I think he needs to take a page from Bill 311 00:15:26,880 --> 00:15:30,840 Speaker 1: Clinton and Monica Lewinsky scandal time and keep moving forward 312 00:15:30,920 --> 00:15:33,040 Speaker 1: with the business of the people. But what is mind 313 00:15:33,120 --> 00:15:36,160 Speaker 1: numbing to me is the drip drip of this. I mean, 314 00:15:36,440 --> 00:15:39,600 Speaker 1: we're sitting today getting breaking news alerts from Bloomberg and 315 00:15:39,640 --> 00:15:42,840 Speaker 1: elsewhere saying the FBI reading the house. They're back in 316 00:15:42,880 --> 00:15:45,320 Speaker 1: the house, and you're thinking, again, didn't they do this? 317 00:15:45,640 --> 00:15:49,080 Speaker 1: So the White House pr team, not Biden, has got 318 00:15:49,200 --> 00:15:51,680 Speaker 1: to wrap their hands around this. They have got to 319 00:15:51,800 --> 00:15:54,240 Speaker 1: be forthcoming with reporters in the American public on this. 320 00:15:54,600 --> 00:15:57,240 Speaker 1: The search was planned and consensual. I read on the 321 00:15:57,360 --> 00:16:00,680 Speaker 1: terminal conducted without a warrant. That's the part the White 322 00:16:00,760 --> 00:16:04,440 Speaker 1: House will remind you of. Genie Chanzano and Lisa Kamuso 323 00:16:04,520 --> 00:16:07,200 Speaker 1: Miller our panel today with more ahead as the Republican 324 00:16:07,320 --> 00:16:10,760 Speaker 1: House tries to flex on the Democrats. Today will have 325 00:16:10,880 --> 00:16:13,960 Speaker 1: more on the Fastest Hour in Politics. This is Bloomberg. 326 00:16:16,000 --> 00:16:20,200 Speaker 1: You're listening to Bloomberg Sound On with Joe Matthew on 327 00:16:20,520 --> 00:16:27,120 Speaker 1: Bloomberg Radio, the Fastest Hour in Politics, Live from the 328 00:16:27,200 --> 00:16:30,680 Speaker 1: nation's capital. We welcome you and thanks for joining us. 329 00:16:31,280 --> 00:16:33,880 Speaker 1: As the House Oversight Committee holds its first hearing in 330 00:16:33,960 --> 00:16:36,400 Speaker 1: the new Congress, it has been a lot of anticipation 331 00:16:36,480 --> 00:16:41,239 Speaker 1: for this and specifically today about money spent during the pandemic, 332 00:16:41,760 --> 00:16:44,440 Speaker 1: the trillions of dollars approved in the Cares Act, which 333 00:16:44,920 --> 00:16:48,760 Speaker 1: was signed by President Trump. Government agencies, though, have said 334 00:16:48,800 --> 00:16:54,560 Speaker 1: that billions of dollars have either been misplaced, misallocated, defrauded 335 00:16:54,640 --> 00:16:59,920 Speaker 1: from people who needed it, just lost. Oversight Committee chair 336 00:17:00,080 --> 00:17:04,000 Speaker 1: Jim Comer says Democrats in the last congressional majority did 337 00:17:04,080 --> 00:17:08,160 Speaker 1: not oversee the payments. These programs brought relief to many Americans, 338 00:17:09,240 --> 00:17:12,560 Speaker 1: but with massive government spending comes opportunity for waste, fraud, 339 00:17:12,600 --> 00:17:17,240 Speaker 1: and abuse. Unfortunately, Democrats conducted little oversight of the over 340 00:17:17,320 --> 00:17:20,960 Speaker 1: two trillion dollars spent under the Cares Act, not just 341 00:17:21,200 --> 00:17:25,320 Speaker 1: massive waste, fraud and abused, he says, the greatest fraud 342 00:17:25,440 --> 00:17:28,200 Speaker 1: interviews every We owe it to the American people to 343 00:17:28,359 --> 00:17:32,000 Speaker 1: get to the bottom of the greatest theft of American 344 00:17:32,080 --> 00:17:34,920 Speaker 1: taxpayer dollars in history. This of course, being just the 345 00:17:35,000 --> 00:17:38,480 Speaker 1: beginning of a series of hearings looking into the policies 346 00:17:38,520 --> 00:17:41,240 Speaker 1: of the last administration while this administration, let's just say, 347 00:17:41,240 --> 00:17:43,680 Speaker 1: the last majority in Congress. While on the floor of 348 00:17:43,680 --> 00:17:48,200 Speaker 1: the House today, Republicans introduced a resolution to condemn what 349 00:17:48,359 --> 00:17:52,280 Speaker 1: they call the horrors of socialism in this legislation. Here's 350 00:17:52,280 --> 00:17:55,560 Speaker 1: Congresswoman Maria Salazara, Florida, and why am I bringing this 351 00:17:55,720 --> 00:17:58,480 Speaker 1: resolution to the floor of the United States House of 352 00:17:58,520 --> 00:18:04,080 Speaker 1: Representatives Because young people in America are being brainwashed by 353 00:18:04,160 --> 00:18:07,879 Speaker 1: the news media and academia into believing that socialism is 354 00:18:07,920 --> 00:18:11,719 Speaker 1: an economic model for the greater good of all Americans. 355 00:18:12,680 --> 00:18:15,240 Speaker 1: And the problem is that they're falling for it. They're 356 00:18:15,320 --> 00:18:22,360 Speaker 1: believing it. Enter Jim McGovern, the Democrat from Massachusetts who 357 00:18:22,480 --> 00:18:25,080 Speaker 1: was chair of the Rules Committee until Republicans just took 358 00:18:25,119 --> 00:18:28,760 Speaker 1: the House, mystified on the Florida I have to say 359 00:18:28,840 --> 00:18:31,680 Speaker 1: that this is about the stupidest bill I've ever seen. 360 00:18:32,280 --> 00:18:36,119 Speaker 1: Just a stupid, stupid, stupid bill. And let me just 361 00:18:36,320 --> 00:18:39,320 Speaker 1: say to my Democratic colleagues, vote however you want on 362 00:18:39,400 --> 00:18:42,080 Speaker 1: this doesn't matter because it does nothing at all. A 363 00:18:42,160 --> 00:18:44,240 Speaker 1: lot more where that came from. And by the way, 364 00:18:44,560 --> 00:18:47,080 Speaker 1: this isn't just a stupid bill, it's a badly written 365 00:18:47,119 --> 00:18:52,120 Speaker 1: stupid bill. Now there's a lot here. Uh. The bill 366 00:18:52,280 --> 00:18:58,720 Speaker 1: also calls out socialist tyrants, as noted by Congressman mcgovernment. Oh, 367 00:18:58,880 --> 00:19:03,479 Speaker 1: it denounces pope. Of course, we denounced Paul Point, Paul Pot. 368 00:19:03,760 --> 00:19:06,520 Speaker 1: I've never heard anyone say anything nice about him. We 369 00:19:06,680 --> 00:19:11,359 Speaker 1: denounced Stalin, didn't know that that needed a resolution. We 370 00:19:11,520 --> 00:19:16,640 Speaker 1: denounced Kim Jong un. Well, not all of us actually, 371 00:19:17,359 --> 00:19:20,200 Speaker 1: because in fact, I remember, if I remember correctly, it 372 00:19:20,320 --> 00:19:22,600 Speaker 1: was the leader of the Republican Party, Donald Trump, who 373 00:19:22,720 --> 00:19:26,520 Speaker 1: said he fell in love with him, he couldn't resist it. 374 00:19:26,800 --> 00:19:29,960 Speaker 1: That drew a strong reaction from Republicans who are on 375 00:19:30,040 --> 00:19:31,719 Speaker 1: the floor. By the way, this was not a crowded 376 00:19:31,720 --> 00:19:34,879 Speaker 1: floor at the time. But let's fast forward to what 377 00:19:35,040 --> 00:19:39,080 Speaker 1: this actually really means. Here. By the way, Vladimir Putin's 378 00:19:39,119 --> 00:19:40,560 Speaker 1: name was not on the list that took up a 379 00:19:40,600 --> 00:19:44,360 Speaker 1: whole other. But Democrats are concerned that formally condemning socialism 380 00:19:45,040 --> 00:19:50,640 Speaker 1: legislatively could somehow jeopardize social programs. And the former chair 381 00:19:50,640 --> 00:19:52,680 Speaker 1: of the Rules Committee got there. It lays out all 382 00:19:52,800 --> 00:19:56,040 Speaker 1: of these awful people and then says, we're quote rejecting 383 00:19:56,080 --> 00:19:59,600 Speaker 1: the implementation of socialist policies in the United States of America. 384 00:20:00,640 --> 00:20:04,760 Speaker 1: And nobody, not a single person so far, has been 385 00:20:04,760 --> 00:20:09,200 Speaker 1: willing to clarify for me what exactly that means. What 386 00:20:09,320 --> 00:20:12,359 Speaker 1: the hell are they talking about? Are we talking about 387 00:20:12,520 --> 00:20:18,800 Speaker 1: public schools here, fire departments, Rhodes? What about Medicare and 388 00:20:18,880 --> 00:20:23,680 Speaker 1: social security? Republicans have called Medicare and social security socialist 389 00:20:23,720 --> 00:20:28,159 Speaker 1: programs for years. This is actually a fascinating conversation for 390 00:20:28,280 --> 00:20:31,480 Speaker 1: the panel. Jennie Chanzano is here along again with Lisa 391 00:20:31,520 --> 00:20:34,080 Speaker 1: Camuso Miller. First of all, Lisa, what the heck is 392 00:20:34,119 --> 00:20:38,000 Speaker 1: going on in the US House? Well, it's the circus 393 00:20:38,119 --> 00:20:41,000 Speaker 1: that we knew was coming to town. Unfortunately. I mean, Joe, 394 00:20:41,119 --> 00:20:44,120 Speaker 1: this is it's just weird. I mean, I don't even 395 00:20:44,160 --> 00:20:46,160 Speaker 1: have words. I don't really don't have words to bring 396 00:20:46,359 --> 00:20:48,720 Speaker 1: any kind of credibility. A lot of messaging though going 397 00:20:48,760 --> 00:20:51,160 Speaker 1: on right for for a new majority that was promising 398 00:20:51,200 --> 00:20:54,040 Speaker 1: a lot of legislating. None of this stuff is going 399 00:20:54,080 --> 00:20:58,920 Speaker 1: to lead to new policy. No, it's it's a show. 400 00:20:59,080 --> 00:21:01,040 Speaker 1: I mean really, it's a show. And you know, look, 401 00:21:01,119 --> 00:21:03,160 Speaker 1: the former chair of the Rules Committee has a point. 402 00:21:04,040 --> 00:21:06,199 Speaker 1: But as I look at this from someone who has 403 00:21:06,280 --> 00:21:11,680 Speaker 1: run campaigns for Republican candidates, I mean, our seniors are voters, 404 00:21:11,880 --> 00:21:14,760 Speaker 1: the people that we count on every day. They count 405 00:21:14,760 --> 00:21:17,200 Speaker 1: on those programs, right, I mean, they count on that support. 406 00:21:17,280 --> 00:21:19,879 Speaker 1: So if this is a step in the direction of 407 00:21:19,960 --> 00:21:23,880 Speaker 1: taking a shot at social programs, the Republicans will quickly 408 00:21:23,920 --> 00:21:27,560 Speaker 1: find themselves back in the minority. Well, Kevin McCarthy said, 409 00:21:27,640 --> 00:21:30,879 Speaker 1: social Security and Medicare are off the table. A genie 410 00:21:31,000 --> 00:21:33,960 Speaker 1: is is Jim McGovern just projecting here? Is this a 411 00:21:34,040 --> 00:21:38,359 Speaker 1: legitimate concern? Abom for Democrats? Hallelujah for Jim McGovern because 412 00:21:38,400 --> 00:21:41,520 Speaker 1: he asked the right question, what are you talking about? 413 00:21:41,680 --> 00:21:45,399 Speaker 1: What social programs? It's not that different from what the 414 00:21:45,480 --> 00:21:48,639 Speaker 1: Biden administration has been asking. Kevin McCarthy, what do you 415 00:21:48,760 --> 00:21:51,200 Speaker 1: want to cut in spending? You don't now want to 416 00:21:51,240 --> 00:21:54,440 Speaker 1: cut social Security and medicaid or so you say, well, 417 00:21:54,640 --> 00:21:56,720 Speaker 1: do you want to cut defense? I mean, they have 418 00:21:57,000 --> 00:22:00,200 Speaker 1: to say they want to cut something, or they to 419 00:22:00,320 --> 00:22:03,400 Speaker 1: stop making these arguments. But this is really the height 420 00:22:03,520 --> 00:22:07,720 Speaker 1: of silly season. Is a debate on denouncing socialism really 421 00:22:07,800 --> 00:22:11,760 Speaker 1: going to do anything to help the American public at all? No, 422 00:22:11,960 --> 00:22:14,760 Speaker 1: it is not. We had that. We had a fight 423 00:22:14,960 --> 00:22:18,200 Speaker 1: over in one of the committees today over whether in 424 00:22:18,320 --> 00:22:20,600 Speaker 1: fact they should say the pledge of allegiance and if so, 425 00:22:20,760 --> 00:22:24,640 Speaker 1: how And you had a Republican from New Jersey turn 426 00:22:24,720 --> 00:22:27,520 Speaker 1: around and say, can this be real? I can't believe 427 00:22:27,560 --> 00:22:29,960 Speaker 1: what's going on here? I mean, this is what is 428 00:22:30,040 --> 00:22:32,760 Speaker 1: happening in the House of Representatives today, And you wonder 429 00:22:32,840 --> 00:22:35,480 Speaker 1: why people are so frustrated when they look at Congress. 430 00:22:35,680 --> 00:22:38,159 Speaker 1: They're playing right into the hands of Biden if he 431 00:22:38,280 --> 00:22:40,680 Speaker 1: chooses to run, because all he wants to do is 432 00:22:40,760 --> 00:22:44,080 Speaker 1: point to the Republicans controlling the House and say this 433 00:22:44,480 --> 00:22:47,159 Speaker 1: is nuts. You can't turn over the whole government to 434 00:22:47,280 --> 00:22:50,040 Speaker 1: these folks. Well, Maria Salazar, who you heard introducing the 435 00:22:50,080 --> 00:22:55,160 Speaker 1: Horrors of Socialism resolution, went on to site extensive polling 436 00:22:55,280 --> 00:22:59,520 Speaker 1: data at LEASTA to prove that gen Z was being 437 00:22:59,640 --> 00:23:04,560 Speaker 1: woo by by the Democrat left to believe in and 438 00:23:04,640 --> 00:23:08,360 Speaker 1: embrace socialism as much or more than the US Constitution. 439 00:23:09,119 --> 00:23:11,320 Speaker 1: Is there something to be said for that, or is 440 00:23:11,400 --> 00:23:15,920 Speaker 1: that narrative flawed to begin with? I mean, maybe she's 441 00:23:15,960 --> 00:23:18,200 Speaker 1: reading the tea leaves. It was. It was a very 442 00:23:18,280 --> 00:23:20,600 Speaker 1: good it was a very good day on election day 443 00:23:20,720 --> 00:23:23,320 Speaker 1: for gen Z. They came out, they voted, they they've 444 00:23:23,359 --> 00:23:25,920 Speaker 1: been active, they are they're reported to be one of 445 00:23:26,000 --> 00:23:28,960 Speaker 1: the most active young groups of voters that we've seen. 446 00:23:29,000 --> 00:23:30,720 Speaker 1: I mean, Jeanie would know this better than I would, 447 00:23:30,760 --> 00:23:32,359 Speaker 1: but I know I've read it, and I know that 448 00:23:32,480 --> 00:23:34,760 Speaker 1: I believe it because I know young people are paying attention, 449 00:23:34,800 --> 00:23:39,560 Speaker 1: and they're paying attention because the hyperbole, the hyperbolic situation 450 00:23:39,640 --> 00:23:41,320 Speaker 1: that we are in in this world where people are 451 00:23:41,359 --> 00:23:45,480 Speaker 1: talking in their hysterical about issues like this. Young people 452 00:23:45,520 --> 00:23:47,720 Speaker 1: are saying, enough is enough, Let's get back to work. 453 00:23:47,840 --> 00:23:50,320 Speaker 1: And that's I think a good thing. So if that's 454 00:23:50,320 --> 00:23:52,240 Speaker 1: what this is, if this is a gut reaction to 455 00:23:52,600 --> 00:23:55,879 Speaker 1: to what they saw on election day, I don't necessarily 456 00:23:55,920 --> 00:23:57,919 Speaker 1: think it's going to change anybody's mind or drive them 457 00:23:57,960 --> 00:23:59,640 Speaker 1: to the polls in any other way, but to take 458 00:23:59,680 --> 00:24:01,800 Speaker 1: them out and to do something better. You stand in 459 00:24:01,880 --> 00:24:03,639 Speaker 1: front of students every day, Jeanne, You're looking at a 460 00:24:03,680 --> 00:24:06,800 Speaker 1: bunch of socialists out there. What's the what's the story? No, 461 00:24:07,000 --> 00:24:08,840 Speaker 1: you know, I'm looking at a bunch of young people 462 00:24:09,160 --> 00:24:11,840 Speaker 1: who want their government to work. And so I would 463 00:24:11,880 --> 00:24:15,240 Speaker 1: tell Salazar or anybody making this case, if you want 464 00:24:15,280 --> 00:24:18,280 Speaker 1: to attract young people, show them that the government in 465 00:24:18,400 --> 00:24:21,080 Speaker 1: Washington and elsewhere is doing the business of the people. 466 00:24:21,200 --> 00:24:23,199 Speaker 1: They want jobs, they want to raise families, who want 467 00:24:23,240 --> 00:24:25,200 Speaker 1: to get homes. They want to do the things most 468 00:24:25,240 --> 00:24:28,080 Speaker 1: people want to do, and they want an economic model 469 00:24:28,119 --> 00:24:30,240 Speaker 1: and a government that works to make that happen. So 470 00:24:30,760 --> 00:24:33,360 Speaker 1: that's how you attract them. There's not a bunch of socialists. 471 00:24:33,359 --> 00:24:35,760 Speaker 1: They're people who want to move forward. And let's not 472 00:24:35,880 --> 00:24:39,840 Speaker 1: forget this is all coming just days after President Trump 473 00:24:40,119 --> 00:24:42,959 Speaker 1: goes out and says he still believes Putin more than 474 00:24:43,000 --> 00:24:45,480 Speaker 1: the US and TEL community. So they need to deal 475 00:24:45,560 --> 00:24:48,840 Speaker 1: with that problem as well. Wasn't listed in that legislation 476 00:24:49,119 --> 00:24:52,960 Speaker 1: that good reason. Indeed, Jim McGovern made note of that 477 00:24:53,080 --> 00:24:55,359 Speaker 1: as well. One name I noticed was missing from this 478 00:24:55,520 --> 00:24:59,200 Speaker 1: list Vladimir Putin. There it is like, what's up with that? 479 00:25:00,200 --> 00:25:03,000 Speaker 1: I mean, we condemned Lenin and Stalin, but not Putin. 480 00:25:03,800 --> 00:25:06,600 Speaker 1: Is that like a Trump thing? Did did he put it? 481 00:25:06,800 --> 00:25:09,840 Speaker 1: Did he put in a call? Seriously? Why is Putin 482 00:25:09,960 --> 00:25:11,880 Speaker 1: left out? He just went on, you know, for half 483 00:25:11,920 --> 00:25:14,280 Speaker 1: the afternoon. By the way, piece of news from the 484 00:25:14,320 --> 00:25:16,800 Speaker 1: White House for both of you, Lisa and Jeannie, for 485 00:25:16,880 --> 00:25:19,160 Speaker 1: our listeners as well. We talked a lot yesterday about 486 00:25:19,600 --> 00:25:22,280 Speaker 1: this White House plan to lift COVID emergency restrictions, and 487 00:25:22,320 --> 00:25:25,040 Speaker 1: that would mean, of course, lifting Title forty two. Everyone 488 00:25:25,240 --> 00:25:28,000 Speaker 1: the second they heard that headline looked to the border. 489 00:25:29,280 --> 00:25:30,800 Speaker 1: The White House is a little ahead of itself on 490 00:25:30,880 --> 00:25:33,560 Speaker 1: this because everyone kept asking the question, just like right 491 00:25:33,600 --> 00:25:36,240 Speaker 1: here on sound On at this time yesterday, Well, what 492 00:25:36,320 --> 00:25:38,159 Speaker 1: about this? It's tied up in the courts though, what if? 493 00:25:38,240 --> 00:25:40,359 Speaker 1: What if the courts don't think that? Was that going 494 00:25:40,400 --> 00:25:44,240 Speaker 1: to work? Here's Karine Jehan Pierre in the briefing room 495 00:25:44,280 --> 00:25:45,800 Speaker 1: twenty four hours later. Look, I just want to be 496 00:25:45,960 --> 00:25:47,800 Speaker 1: very clear on this part two, because I know this 497 00:25:47,920 --> 00:25:49,399 Speaker 1: question has come up and I do want to do 498 00:25:49,480 --> 00:25:51,639 Speaker 1: a little bit of a step back here. The CDC 499 00:25:51,760 --> 00:25:54,880 Speaker 1: said in April that the title forty two should lift, 500 00:25:55,000 --> 00:25:57,879 Speaker 1: but the courts have, as you all know, required us 501 00:25:57,920 --> 00:25:59,760 Speaker 1: to keep it in place and so that's kind of 502 00:26:00,000 --> 00:26:02,440 Speaker 1: here we are. So we do not know when or 503 00:26:02,600 --> 00:26:06,280 Speaker 1: what the courts will rule, but we we must comply 504 00:26:06,440 --> 00:26:13,600 Speaker 1: with that order. So the COVID emergency lifting Title forty 505 00:26:13,680 --> 00:26:20,560 Speaker 1: two grounded in the COVID Emergency will stay. We've got 506 00:26:20,600 --> 00:26:23,680 Speaker 1: a lot more to follow as one more candidate enters 507 00:26:23,760 --> 00:26:26,840 Speaker 1: the race for the Republican nomination. We're gonna talk a 508 00:26:26,920 --> 00:26:31,480 Speaker 1: little bit with Bloomberg's Josh Green. You're listening to Bloomberg 509 00:26:31,720 --> 00:26:37,440 Speaker 1: Sound On with Joe Matthew on Bloomberg Radio. And there 510 00:26:37,640 --> 00:26:41,520 Speaker 1: was another Bloomberg reports that Nicki Haley, the former governor 511 00:26:41,560 --> 00:26:44,200 Speaker 1: of South Carolina and Donald Trump's ambassador to the U 512 00:26:44,440 --> 00:26:49,320 Speaker 1: N will declare her candidacy for president the Republican nomination 513 00:26:49,440 --> 00:26:54,200 Speaker 1: on February right circle it on the calendar. That would 514 00:26:54,280 --> 00:26:58,480 Speaker 1: make her the first Republican to officially challenge her old boss. 515 00:26:58,600 --> 00:27:01,879 Speaker 1: Not that anyone's really surprised. Listen to Nicki Haley on 516 00:27:01,960 --> 00:27:04,320 Speaker 1: Fox News earlier this month. This is ten days ago, 517 00:27:04,400 --> 00:27:05,960 Speaker 1: and she was asked whether she's run. Can I be 518 00:27:06,080 --> 00:27:08,360 Speaker 1: that leader? Yes? I think I can be that leader. 519 00:27:08,600 --> 00:27:11,360 Speaker 1: I was as governor. I took on a herding state 520 00:27:11,440 --> 00:27:13,960 Speaker 1: with double digit unemployment, and we made it the beast 521 00:27:14,040 --> 00:27:17,640 Speaker 1: of the Southeast. As ambassador. Um, you know, I took 522 00:27:17,720 --> 00:27:20,720 Speaker 1: on the world when they tried to disrespect us, and 523 00:27:20,880 --> 00:27:23,119 Speaker 1: I think I showed what I'm capable of at the 524 00:27:23,240 --> 00:27:25,880 Speaker 1: United Nations. So do I think I could be that leader? Yes, 525 00:27:26,040 --> 00:27:29,359 Speaker 1: but we are still working through things and we'll figure 526 00:27:29,400 --> 00:27:31,959 Speaker 1: it out. I've never lost a race. I said that then, 527 00:27:32,040 --> 00:27:34,320 Speaker 1: I still say that now. I'm not gonna lose now. 528 00:27:34,400 --> 00:27:38,320 Speaker 1: I'm not gonna lose now. Right, So there's your elevator pitch. 529 00:27:38,400 --> 00:27:41,760 Speaker 1: She will make her announcement in Charleston, South Carolina, right 530 00:27:41,840 --> 00:27:45,440 Speaker 1: where Donald Trump was last weekend. So let's get into 531 00:27:45,480 --> 00:27:48,760 Speaker 1: it with Bloomberg Business Week National correspondent Josh Green has been, 532 00:27:48,760 --> 00:27:51,720 Speaker 1: of course following the landscape here as we gear up 533 00:27:51,760 --> 00:27:54,520 Speaker 1: for Josh, Welcome back to sound On. Good to be 534 00:27:54,600 --> 00:27:57,480 Speaker 1: with you. So the headline today could be Donald Trump 535 00:27:57,720 --> 00:28:00,840 Speaker 1: fails to clear the field. But there is Nicky Haley 536 00:28:01,000 --> 00:28:05,800 Speaker 1: an actual threat to Donald Trump? Well, it's a good question. 537 00:28:05,920 --> 00:28:08,439 Speaker 1: I mean, she's certainly somebody now who's going to get 538 00:28:08,520 --> 00:28:10,440 Speaker 1: quite a bit of attention because she's the first non 539 00:28:10,640 --> 00:28:13,040 Speaker 1: Donald Trump candidate to enter the race. Or we expect 540 00:28:13,080 --> 00:28:14,520 Speaker 1: she will be. That was that was sort of the 541 00:28:14,600 --> 00:28:18,480 Speaker 1: basis of today's announcement. But whether or not she's somebody 542 00:28:18,560 --> 00:28:21,960 Speaker 1: who can seriously compete with Trump, uh and Ron De 543 00:28:22,040 --> 00:28:25,000 Speaker 1: Santis for Republican nomination, I think very much remains to 544 00:28:25,080 --> 00:28:29,240 Speaker 1: be seen. There was a poll out on Republican presidential 545 00:28:29,280 --> 00:28:32,639 Speaker 1: primary contenders last week from Morning Consult I had a 546 00:28:32,680 --> 00:28:36,320 Speaker 1: Trump leading at and Nicki Haley was at a mere 547 00:28:36,680 --> 00:28:40,160 Speaker 1: three percent. So really the only good news in that 548 00:28:40,320 --> 00:28:43,800 Speaker 1: poll was that she was above the other South Carolina 549 00:28:43,960 --> 00:28:46,320 Speaker 1: candidate who might be entering the race at some point, 550 00:28:46,720 --> 00:28:50,440 Speaker 1: that Senator Tim Scott in one. So long way to 551 00:28:50,520 --> 00:28:53,560 Speaker 1: go for anybody to to sort of be competing with 552 00:28:53,640 --> 00:28:55,360 Speaker 1: Trump at this point, but of course we're still a 553 00:28:55,440 --> 00:28:58,920 Speaker 1: year away. In South Carolina itself, we saw numbers from 554 00:28:59,080 --> 00:29:04,440 Speaker 1: the Trafalgar Group Trump at forty three, De Santis, Scott fourteen, 555 00:29:04,600 --> 00:29:09,040 Speaker 1: Haley twelve. That's in South Carolina. And Donald Trump was 556 00:29:09,080 --> 00:29:12,000 Speaker 1: talking about this on his big weekend out. This was 557 00:29:12,080 --> 00:29:15,240 Speaker 1: the stop in New Hampshire, talking about Nicki Haley, Rhonda Santis, 558 00:29:15,320 --> 00:29:17,240 Speaker 1: the rest of the field. Listen, Josh, remember I used 559 00:29:17,240 --> 00:29:19,960 Speaker 1: to in s I talked about Poles all the time 560 00:29:20,000 --> 00:29:22,840 Speaker 1: in I didn't have to because we didn't have a 561 00:29:22,880 --> 00:29:25,600 Speaker 1: lot of competition. We had no competition, and I don't 562 00:29:25,600 --> 00:29:27,920 Speaker 1: think we have a competition this time either, to be honest, 563 00:29:28,320 --> 00:29:31,200 Speaker 1: but I talked about the polls and I will say 564 00:29:31,240 --> 00:29:34,160 Speaker 1: that U poles. We are absolutely we are so far 565 00:29:34,240 --> 00:29:37,840 Speaker 1: ahead in the polls. Uh, both in New Hampshire when 566 00:29:37,920 --> 00:29:40,360 Speaker 1: came out this morning a very nice poll, a way ahead, 567 00:29:40,880 --> 00:29:44,960 Speaker 1: and one came out yesterday a nationwide pole and we're 568 00:29:45,000 --> 00:29:47,800 Speaker 1: thirty five points up, thirty nine points up. That's a lot. 569 00:29:48,040 --> 00:29:51,520 Speaker 1: How does Nicki Haley break into that number. She's got 570 00:29:51,600 --> 00:29:54,680 Speaker 1: a name recognition issue, Josh, he hasn't run for any 571 00:29:54,760 --> 00:29:58,040 Speaker 1: elected office in some time. Well, what she's gotta do 572 00:29:58,160 --> 00:30:00,440 Speaker 1: is go out in campaign and introduce her herself through 573 00:30:00,440 --> 00:30:04,920 Speaker 1: Republican voters, reintroduced herself to the national political media, and 574 00:30:05,080 --> 00:30:08,240 Speaker 1: make a compelling case that she can draw enough support 575 00:30:08,320 --> 00:30:12,080 Speaker 1: to be thought of as a plausible contender for the 576 00:30:13,480 --> 00:30:16,520 Speaker 1: Republican nomination. And I think it's worth mentioning too that 577 00:30:16,640 --> 00:30:19,400 Speaker 1: there are two jobs open on the national ticket for 578 00:30:19,440 --> 00:30:26,320 Speaker 1: Republicans and Hailey is rare among the Republican contenders, and 579 00:30:26,400 --> 00:30:29,120 Speaker 1: that she has never gotten cross wise with Trump and 580 00:30:29,240 --> 00:30:31,520 Speaker 1: was one of the few high level Trump officials to 581 00:30:31,640 --> 00:30:35,800 Speaker 1: leave his administration on good terms. Was even praised by Trump. 582 00:30:36,160 --> 00:30:38,760 Speaker 1: So there's some thinking in the party among strategists that, look, 583 00:30:38,800 --> 00:30:40,760 Speaker 1: she's running to get her name out there and to 584 00:30:40,840 --> 00:30:42,800 Speaker 1: get a lot of attention. And if there's one thing 585 00:30:42,880 --> 00:30:44,840 Speaker 1: we do know about Donald Trump at twenty four, if 586 00:30:44,880 --> 00:30:48,200 Speaker 1: he does happen to be the Republican nominee Mike Pence 587 00:30:48,280 --> 00:30:50,040 Speaker 1: is not going to be as vice president, that job 588 00:30:50,080 --> 00:30:52,040 Speaker 1: will be open, so that that could be some some 589 00:30:52,240 --> 00:30:55,320 Speaker 1: some thinking behind Nikki Haley getting in and getting in 590 00:30:55,440 --> 00:30:57,560 Speaker 1: early as well. You might have to fight Carry Lake 591 00:30:57,600 --> 00:31:00,840 Speaker 1: for the job, though right she might. Does Nicky Haley 592 00:31:00,920 --> 00:31:02,960 Speaker 1: want to get into this though to be running with 593 00:31:03,120 --> 00:31:05,760 Speaker 1: Donald Trump, she seems to be trying to make already 594 00:31:05,840 --> 00:31:08,600 Speaker 1: make that difference to suggest that it's time for new leadership, 595 00:31:08,800 --> 00:31:10,760 Speaker 1: and in being one of the first to step out, 596 00:31:10,800 --> 00:31:12,920 Speaker 1: I'm assuming he's not too happy with her at the moment. 597 00:31:14,080 --> 00:31:16,200 Speaker 1: I think part of that is going to depend on 598 00:31:16,480 --> 00:31:19,400 Speaker 1: how she goes about campaigning, whether she goes after him 599 00:31:19,480 --> 00:31:22,720 Speaker 1: directly and says he's a three time loser. Republicans have 600 00:31:22,840 --> 00:31:24,480 Speaker 1: lost three elections in a row with him at the 601 00:31:24,520 --> 00:31:27,640 Speaker 1: head of the party. Uh, time for new leadership, or 602 00:31:27,760 --> 00:31:30,880 Speaker 1: whether she goes out and essentially just talked about herself, 603 00:31:31,120 --> 00:31:34,280 Speaker 1: touts her own bona fide, touts her time, and the 604 00:31:34,320 --> 00:31:39,000 Speaker 1: Trump administration runs in a way that doesn't directly challenge Trump. 605 00:31:39,000 --> 00:31:40,400 Speaker 1: I think that's what a lot of people are gonna 606 00:31:40,400 --> 00:31:41,760 Speaker 1: be looking for. But look, if you get into a 607 00:31:41,760 --> 00:31:45,440 Speaker 1: Republican presidential primary, any strategist will tell you this, you 608 00:31:45,560 --> 00:31:47,360 Speaker 1: have to appear to voters as though you're running for 609 00:31:47,400 --> 00:31:50,080 Speaker 1: the top job. There's no such thing as getting in 610 00:31:50,200 --> 00:31:52,360 Speaker 1: and saying, hey, I'm in the field because I want 611 00:31:52,400 --> 00:31:56,000 Speaker 1: to be somebody's vice presidents. So Haley, if she's going 612 00:31:56,080 --> 00:31:58,080 Speaker 1: to break above her three percent or whatever it is 613 00:31:58,120 --> 00:31:59,840 Speaker 1: in recent polls, is going to have to start in 614 00:32:00,080 --> 00:32:02,760 Speaker 1: enting people that she's someone they could envision in the 615 00:32:02,840 --> 00:32:05,000 Speaker 1: White House. And the good news is for her is that, 616 00:32:05,080 --> 00:32:07,520 Speaker 1: besides Donald Trump, she's got the field to herself for now. 617 00:32:07,560 --> 00:32:09,719 Speaker 1: Nobody else is in there. Uh. And so she got 618 00:32:09,720 --> 00:32:11,640 Speaker 1: out and launched this campaign and make her best case. 619 00:32:11,720 --> 00:32:14,120 Speaker 1: Well that's actually my next question. Now that someone's actually 620 00:32:14,200 --> 00:32:16,720 Speaker 1: gone there and done that, does that open the field? 621 00:32:16,760 --> 00:32:19,680 Speaker 1: Now we're gonna start seeing more Republicans at least float 622 00:32:19,720 --> 00:32:23,040 Speaker 1: some balloons, if not actually announced for president. I think 623 00:32:23,080 --> 00:32:25,800 Speaker 1: it probably does. I mean, there was a big pause 624 00:32:25,880 --> 00:32:29,600 Speaker 1: in the field after the mid term elections when Republicans 625 00:32:29,680 --> 00:32:33,440 Speaker 1: polled very poorly. Trump had already committed to getting into 626 00:32:33,480 --> 00:32:37,920 Speaker 1: the race and did um, but because he generated so 627 00:32:38,080 --> 00:32:41,360 Speaker 1: little enthusiasm, I think it took the pressure off a 628 00:32:41,440 --> 00:32:44,120 Speaker 1: lot of other Republican candidates, people like rhnd De Santus, 629 00:32:44,160 --> 00:32:46,160 Speaker 1: who are expected to get in the race. There was 630 00:32:46,240 --> 00:32:48,240 Speaker 1: some talk about what would the Santus get in in 631 00:32:48,320 --> 00:32:52,080 Speaker 1: December or January? And I think Trump's poor showing has 632 00:32:52,200 --> 00:32:55,040 Speaker 1: made his team feel like they can wait until later 633 00:32:55,160 --> 00:32:57,080 Speaker 1: in the spring or the summer. I think a lot 634 00:32:57,160 --> 00:32:59,480 Speaker 1: of other candidates are gonna feel the same way. The 635 00:32:59,600 --> 00:33:02,760 Speaker 1: question now is, though, uh, you know, if Haley starts 636 00:33:02,800 --> 00:33:06,000 Speaker 1: getting attention, do some of these lesser known candidates with 637 00:33:06,080 --> 00:33:09,000 Speaker 1: their eyes in the white hose, someone like Christy Gnome 638 00:33:09,280 --> 00:33:14,040 Speaker 1: or or Tim Scott from South Carolina, or even someone 639 00:33:14,600 --> 00:33:18,160 Speaker 1: running to kind of challenge Trump in the public dialogue, 640 00:33:18,200 --> 00:33:20,600 Speaker 1: like a linz Cheney. You know, does she get into 641 00:33:20,600 --> 00:33:23,440 Speaker 1: the race and try and claim that kind of attention 642 00:33:23,520 --> 00:33:27,200 Speaker 1: that comes with a small field and hopes that, uh, 643 00:33:27,360 --> 00:33:30,080 Speaker 1: they can catch fire and take off. We'll have to 644 00:33:30,120 --> 00:33:31,640 Speaker 1: see how that shakes out, and I think a lot 645 00:33:31,720 --> 00:33:33,400 Speaker 1: of it's going to have to do with the reaction 646 00:33:33,480 --> 00:33:36,000 Speaker 1: to Haley and whether she really kind of breaks through 647 00:33:36,520 --> 00:33:39,240 Speaker 1: in the media cycle and is somebody that voters get 648 00:33:39,280 --> 00:33:41,040 Speaker 1: excited about and want to talk about. Does this turn 649 00:33:41,120 --> 00:33:42,800 Speaker 1: into a free for all where we've got, you know, 650 00:33:42,920 --> 00:33:46,560 Speaker 1: fifteen candidates on stage in these primary debates, or or 651 00:33:47,120 --> 00:33:49,160 Speaker 1: is the field just not that deep right now with 652 00:33:49,240 --> 00:33:52,720 Speaker 1: Donald Trump kicking around. I think because of Trump's poor 653 00:33:52,800 --> 00:33:54,560 Speaker 1: showing after the mid terms, and in fact, a lot 654 00:33:54,560 --> 00:33:57,760 Speaker 1: of people in the party blamed him for Republican losses, uh, 655 00:33:58,480 --> 00:34:00,480 Speaker 1: makes it likely that the field is going be larger 656 00:34:00,600 --> 00:34:03,840 Speaker 1: rather than smaller. If Republicans had coasted, if Trump was 657 00:34:05,080 --> 00:34:08,320 Speaker 1: in these Republican presidential primary polls, then I think it 658 00:34:08,360 --> 00:34:10,960 Speaker 1: would be difficult to see to see a big field. 659 00:34:11,120 --> 00:34:13,400 Speaker 1: But Trump is viewed by a lot of people in 660 00:34:13,480 --> 00:34:15,719 Speaker 1: the party as potentially beat her ball, and I think 661 00:34:15,800 --> 00:34:17,560 Speaker 1: that's going to induce more and more people to get 662 00:34:17,560 --> 00:34:21,200 Speaker 1: in the race. Bloomberg Opinion columnist Joshua Green To think 663 00:34:21,239 --> 00:34:24,160 Speaker 1: we're just getting started, Josh, thanks for your time once 664 00:34:24,200 --> 00:34:28,760 Speaker 1: again on Bloomberg as a pleasure, the fastest hour in politics, 665 00:34:28,800 --> 00:34:31,920 Speaker 1: live from Washington Time Joe Matthew And this is Bloomberg 666 00:34:32,080 --> 00:34:34,440 Speaker 1: sound On, by the way in Emerson College Pole. This 667 00:34:34,640 --> 00:34:38,759 Speaker 1: is conducted January nine. One showed Donald Trump as the 668 00:34:38,920 --> 00:34:41,920 Speaker 1: presumptive front runner in a potential twenty four field at 669 00:34:43,560 --> 00:34:47,080 Speaker 1: his next closest challenger, and again this is a national 670 00:34:47,160 --> 00:34:53,200 Speaker 1: view here Florida Governor Run De Santis, widely considered to 671 00:34:53,239 --> 00:34:56,680 Speaker 1: be Trump's strongest challenger, and he's at it again today 672 00:34:56,760 --> 00:34:59,640 Speaker 1: with the gas stoves. We'll bring it to Florida next 673 00:34:59,680 --> 00:35:02,120 Speaker 1: for more on that and our panel Lisa and Jeanie 674 00:35:02,640 --> 00:35:06,000 Speaker 1: only here on sound On. I'm Joe Matthew. This is Bloomberg. 675 00:35:08,680 --> 00:35:12,880 Speaker 1: You're listening to Bloomberg Sound On with Joe Matthew on 676 00:35:13,200 --> 00:35:17,200 Speaker 1: Bloomberg Radio. Bloomberg Sound On is brought to you by 677 00:35:17,239 --> 00:35:20,800 Speaker 1: Innovation Refunds. That's your daily reminder from Innovation Refunds. In 678 00:35:20,840 --> 00:35:23,240 Speaker 1: about eight minutes, you can find out if your business 679 00:35:23,320 --> 00:35:28,200 Speaker 1: qualifies for employment retention credit assistance. Innovation Refunds has helped 680 00:35:28,239 --> 00:35:30,640 Speaker 1: thousands of small to medium sized businesses, claimed the e 681 00:35:30,800 --> 00:35:32,400 Speaker 1: r C and may be able to help yours too. 682 00:35:32,760 --> 00:35:34,360 Speaker 1: Time is running out to claim the e r C, 683 00:35:34,880 --> 00:35:37,719 Speaker 1: so get started today. Learn more at get refunds dot com. 684 00:35:39,120 --> 00:35:41,799 Speaker 1: Not just when you thought the gas stove wars were 685 00:35:41,880 --> 00:35:45,759 Speaker 1: over look no further than the state of Florida, where 686 00:35:45,800 --> 00:35:49,960 Speaker 1: Governor Rhonda Santis. We'll not go gentle into that good night, 687 00:35:51,160 --> 00:35:55,200 Speaker 1: not with the smell of victory at hand. We're in 688 00:35:55,239 --> 00:35:59,680 Speaker 1: the kitchen, yes, the smell of natural gas. We just 689 00:36:00,000 --> 00:36:02,319 Speaker 1: added because I think it needs to be done. Uh 690 00:36:02,480 --> 00:36:07,080 Speaker 1: no tax permanently on gas stoves. They want your gas stove, 691 00:36:07,520 --> 00:36:09,239 Speaker 1: and we're not going to let that happen. And we're 692 00:36:09,239 --> 00:36:11,120 Speaker 1: not even a state. The way Florida was built, a 693 00:36:11,160 --> 00:36:13,400 Speaker 1: lot of this wasn't even connected the gas lines. You've 694 00:36:13,400 --> 00:36:16,000 Speaker 1: got a lot of electrics. But it's just the principle 695 00:36:16,239 --> 00:36:18,880 Speaker 1: of you know, this is ridiculous that they and they 696 00:36:18,920 --> 00:36:20,920 Speaker 1: do want to go after it. They got blowback, so 697 00:36:21,000 --> 00:36:22,880 Speaker 1: they kind of had to back off. They want to 698 00:36:22,960 --> 00:36:25,600 Speaker 1: go after the gas stoves, and so we're saying, you know, 699 00:36:25,680 --> 00:36:27,319 Speaker 1: we want you to be able to buy those uh 700 00:36:27,640 --> 00:36:30,320 Speaker 1: free of charge from from the state of Florida. For 701 00:36:30,480 --> 00:36:33,759 Speaker 1: tax to be in Florida this as he rolled out 702 00:36:34,080 --> 00:36:39,319 Speaker 1: the budget with proposed tax breaks. Uh. For those who 703 00:36:39,480 --> 00:36:44,080 Speaker 1: want to buy a gas stove, it's a permanent exemption 704 00:36:44,200 --> 00:36:51,000 Speaker 1: on appliances fueled by combustible gas, propane, butane, liquefied petroleum 705 00:36:51,120 --> 00:36:57,400 Speaker 1: gas tax free. But two things to know here. Number one, Uh, 706 00:36:57,480 --> 00:36:59,239 Speaker 1: it turns out Florida has the you know he just 707 00:36:59,400 --> 00:37:03,600 Speaker 1: mentioned the not really wired for this, the lowest rate 708 00:37:03,680 --> 00:37:06,920 Speaker 1: of gas dove use in the country. It is tied 709 00:37:06,960 --> 00:37:11,480 Speaker 1: with Maine at just eight percent of all stoves, according 710 00:37:11,520 --> 00:37:14,640 Speaker 1: to the Energy Information Administration. I'm from New England. I 711 00:37:14,680 --> 00:37:18,040 Speaker 1: can tell you they're all wood stoves up there. The 712 00:37:18,080 --> 00:37:21,920 Speaker 1: second important point the Consumer Product Safety Commission, which started 713 00:37:21,960 --> 00:37:24,759 Speaker 1: all of this when somebody mentioned the possibility of a 714 00:37:24,840 --> 00:37:28,160 Speaker 1: gas stove band walked back the comments. So the story 715 00:37:28,239 --> 00:37:30,440 Speaker 1: is actually over. But as he says, they're coming for 716 00:37:30,520 --> 00:37:33,520 Speaker 1: the stove, and in this echo chamber, does it matter. 717 00:37:35,680 --> 00:37:39,280 Speaker 1: I'm sure our panel has some closing thoughts. Jeannie Chanzano 718 00:37:39,360 --> 00:37:42,440 Speaker 1: and Lisa Kmusa Miller are with us right now. Jeannie, 719 00:37:43,000 --> 00:37:46,360 Speaker 1: it's it's sort of the endless message. We talked earlier 720 00:37:46,440 --> 00:37:50,759 Speaker 1: about this resolution on the horrors of socialism. This now 721 00:37:51,160 --> 00:37:53,640 Speaker 1: a tax break on gas stoves that no one is 722 00:37:53,680 --> 00:37:58,799 Speaker 1: apparently buying. But it doesn't matter if it's making good headlines. Right, Yeah, 723 00:37:58,880 --> 00:38:01,800 Speaker 1: that's right. Even the as you mentioned, you know of 724 00:38:01,840 --> 00:38:05,160 Speaker 1: Florida households electric or induction, doesn't matter. He's putting it 725 00:38:05,239 --> 00:38:08,120 Speaker 1: in the budget. I have to say, personally, I have 726 00:38:08,239 --> 00:38:10,920 Speaker 1: a guest of I wish that Governor Holco was listening. 727 00:38:11,000 --> 00:38:13,239 Speaker 1: We could get that up here in New York. You know, 728 00:38:13,360 --> 00:38:15,799 Speaker 1: it is a lot of these blue states, the East Coast, 729 00:38:15,840 --> 00:38:18,120 Speaker 1: the Upper West Coast, we have a lot of these, 730 00:38:18,280 --> 00:38:21,240 Speaker 1: so we need that up here. I'm all for it personally, 731 00:38:21,360 --> 00:38:24,920 Speaker 1: but it is something, you know, a bit ridiculous when 732 00:38:25,000 --> 00:38:27,879 Speaker 1: you think about it, and very little impact. But there 733 00:38:27,960 --> 00:38:30,680 Speaker 1: it is. He's messaging and apparently doesn't want to address 734 00:38:30,719 --> 00:38:32,480 Speaker 1: what Donald Trump has been trying to take him on. 735 00:38:32,600 --> 00:38:34,480 Speaker 1: But I bet you Donald Trump John's put jumps on 736 00:38:34,560 --> 00:38:36,360 Speaker 1: this soon as well. That's true. Well, you know, it 737 00:38:36,440 --> 00:38:38,440 Speaker 1: helps to cook the steak well done when you have 738 00:38:38,560 --> 00:38:42,480 Speaker 1: a gust over uh Lisa, Uh, Look, it doesn't matter 739 00:38:42,600 --> 00:38:45,520 Speaker 1: right when it's when it's a postable announcement like that, 740 00:38:45,640 --> 00:38:47,480 Speaker 1: you put it on Facebook, you raise money on It 741 00:38:47,520 --> 00:38:49,440 Speaker 1: doesn't matter if you're coming for you. If anybody has 742 00:38:49,480 --> 00:38:53,640 Speaker 1: a guest over, right, Well, yeah, I mean maybe his 743 00:38:53,719 --> 00:38:55,920 Speaker 1: budget wasn't very interesting and he decided he needed a 744 00:38:55,960 --> 00:38:58,040 Speaker 1: little something to sprinkle on there to keep it interesting. 745 00:38:58,120 --> 00:38:59,880 Speaker 1: But but more than that, I think that this just 746 00:39:00,040 --> 00:39:02,400 Speaker 1: shows that, I mean, he's not serious. This, this whole 747 00:39:02,840 --> 00:39:05,440 Speaker 1: the policies that he's taking on right now, it's not serious. 748 00:39:05,480 --> 00:39:07,760 Speaker 1: He's trying to be a celebrity and he's not necessarily 749 00:39:07,840 --> 00:39:10,040 Speaker 1: trying to be governing. And that I think is going 750 00:39:10,120 --> 00:39:12,400 Speaker 1: to come through if he is going to run for president. 751 00:39:12,440 --> 00:39:14,800 Speaker 1: I really think that he's probably as much as he 752 00:39:14,880 --> 00:39:16,600 Speaker 1: might be the front runner, there still are some other 753 00:39:16,680 --> 00:39:21,040 Speaker 1: more serious candidates, Nicky Haley, Larry Hogan, Asa Hutchinson. They're 754 00:39:21,080 --> 00:39:23,200 Speaker 1: coming from the governor's offices. And if we're going to 755 00:39:23,280 --> 00:39:25,719 Speaker 1: talk about policy and we're gonna talk about accomplishments, it's 756 00:39:25,760 --> 00:39:27,839 Speaker 1: not coming for your gas stove, that is for sure. 757 00:39:28,000 --> 00:39:31,759 Speaker 1: You're cooking with gas, Lisa, cooking at home with I'm 758 00:39:31,800 --> 00:39:34,879 Speaker 1: an induction girl. So, d Joe, you're so far ahead. Ge. 759 00:39:34,920 --> 00:39:37,400 Speaker 1: You've got a gas stove, right, I do. Lisa is 760 00:39:37,400 --> 00:39:40,680 Speaker 1: going to give me some lessons soon, Okay, good, sharpen 761 00:39:40,760 --> 00:39:43,200 Speaker 1: those knives, light it up, have a great dinner. I'll 762 00:39:43,200 --> 00:39:46,400 Speaker 1: meet you back here tomorrow on the fastest hour in politics. 763 00:39:46,560 --> 00:39:48,440 Speaker 1: This is Bloomberg.