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Speaker 1: Bloomberg Audio Studios, podcasts, radio news. You're listening to the

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Speaker 1: Bloomberg Balance of Power podcast. Catch us live weekdays at

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Speaker 1: you get your podcasts, or watch us live on YouTube.

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Speaker 2: Thanks for being with us here on the fastest show

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Speaker 2: in politics on Bloomberg Radio on the satellite radio. On YouTube,

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Speaker 2: you can watch us right now by searching Bloomberg Business

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Speaker 2: News Live. That's where all the cool kids are. I'm

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Speaker 2: told that's where the growth and the engagement is. So

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Speaker 2: get on YouTube and find us there. As we prepare

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Speaker 2: to welcome our global television audience to the conversation, we

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Speaker 2: have news on the doge. This is a pretty big number,

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Speaker 2: or if you heard me mention this a little while ago,

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Speaker 2: remember there was a big buyout offer that went to

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Speaker 2: every federal worker across the country, now accepted by more

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Speaker 2: than twenty thousand federal workers. They're not all here, they're

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Speaker 2: spread around the country. That's about one percent of the

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Speaker 2: federal workforce. If it sounds like a big number. And

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Speaker 2: the last time he was here, we talked about the

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Speaker 2: idea of the doge the concept with now the former

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Speaker 2: governor of New Hampshire, Republican Chris Sanunu. He was with

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Speaker 2: us in the closing days of his administration, having written

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Speaker 2: an important op ed that we talked about before Elon

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Speaker 2: musk Ever got to Washington. Now we're all here and

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Speaker 2: he's with us, back at the table. I still call

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Speaker 2: you governor, right.

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Speaker 3: Yeah, Well, look, why won't I be here?

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Speaker 4: This is apparently where all the cool kids hang out.

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Speaker 4: As you said, they heard that this is this is

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Speaker 4: the place to be.

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Speaker 2: You couldn't wait to come back. I love you. Are

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Speaker 2: you going to be in Washington a lot? I thought

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Speaker 2: your whole point was staying away from Washington.

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Speaker 4: No, I'm the I'm Washington's evil cynic. I come down

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Speaker 4: and remind Washington why they should do more work and

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Speaker 4: get more stuff done.

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Speaker 3: They all go crazy.

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Speaker 2: Well, so it's not just the doge, it's the coache.

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Speaker 2: You call it that in New Hampshire, right.

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Speaker 3: There is what's commission a new governor.

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Speaker 4: Governor as has created a localized version of it, which good.

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Speaker 5: Look.

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Speaker 4: Efficiency is one of the rarest efficiency in government, like

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Speaker 4: those are like oil and water typically, so when you

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Speaker 4: can force them together.

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Speaker 3: What happens.

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Speaker 4: What you save money, you create, you create opportunities for

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Speaker 4: better connection with what's happening out there with your departments.

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Speaker 3: It's hard. I mean, the thing drives me crazy lately.

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Speaker 4: I don't know if you've been seeing it on some

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Speaker 4: of these news reports about DOGE. Well, can you believe

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Speaker 4: they're going to cut money here and cut money there? Yeah,

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Speaker 4: we're like thirty plus trillion in debt. That's real money.

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Speaker 4: And by the way, the government doesn't owe that money.

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Speaker 4: You do, and I do, and everyone listening here does.

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Speaker 4: So that's real money. It has to be paid. That

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Speaker 4: you got to start somewhere. It's not going to come

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Speaker 4: without a little bit of pain, financial pain. It's not

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Speaker 4: going to be an easy process. But if you plan ahead,

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Speaker 4: you can make that off ramp as smooth as possible

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Speaker 4: for the citizens of the country.

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Speaker 2: Well, because you know, people are upset not about so

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Speaker 2: much the idea of cutting spending, and someone's always going

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Speaker 2: to be upset if you're cutting a program or whatever

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Speaker 2: it is that they're interested in. But they seem to

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Speaker 2: see Elon Musk run wild. You know, they had a

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Speaker 2: couple of security guards fired at USA. They got into

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Speaker 2: great error of secure areas of the building. Shut it down.

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Speaker 2: He's got the keys to the treasury payment system now,

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Speaker 2: which means he has all of our personal information, and

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Speaker 2: he's like a quasi government official. Does that make you uncomfortable?

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Speaker 4: It should, yes, As the guy from the Livery or

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Speaker 4: Die state, yes, it always makes me a bit uncomfortable.

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Speaker 4: But look in when you have a financial crisis of

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Speaker 4: this level, and believe me, guys, this country does have

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Speaker 4: a real financial, long term financial crisis. I'd rather have

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Speaker 4: them go a little more aggressive than not do much

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Speaker 4: at all, because we've had twenty years of not doing

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Speaker 4: much at all. Right, So if he goes a little

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Speaker 4: more aggressive and then they have to back off a

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Speaker 4: few things. Oh wait, you know we got rid of

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Speaker 4: this position in that department. We should roll that in.

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Speaker 4: We should find a way to re establish it. Fine,

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Speaker 4: but then the onus is on the government to justify

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Speaker 4: why they need to re establish it. And if they

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Speaker 4: can do that, it works. So it's gonna be bumpy.

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Speaker 4: They're going very very fast, which by the way, is

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Speaker 4: another good thing. Typically government doesn't move fast in anything.

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Speaker 4: They're acknowledging that this is very serious stuff. They want

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Speaker 4: to move quickly. I think it gives everyone a lot

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Speaker 4: of time repidation that Elon's at the head of this.

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Speaker 2: Yeah, I like it.

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Speaker 4: I like the fact that the guy isn't completely with government,

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Speaker 4: so he's not an insider in the Beltway type guy.

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Speaker 4: He's so wealthy, I just don't believe he has any

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Speaker 4: financial interest in this. People will disagree with me on

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Speaker 4: that all day. But the guys were four hundred billion.

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Speaker 4: What's he gonna do make another couple of billion?

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Speaker 3: That's not his mission.

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Speaker 4: He's a big picture, big project type guy, and he's

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Speaker 4: willing to take it on. Is he going to do

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Speaker 4: everything perfectly? Heck no, He's going to make a lot

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Speaker 4: of mistakes. But they've probably already had a few bumps already.

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Speaker 4: But a few bumps is okay. If at the end

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Speaker 4: of the day, we're finding a pathway to cut saving money,

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Speaker 4: you know, allowing the economy to be fruitful and not

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Speaker 4: just lean on a giant bureaucracy out of Washington that

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Speaker 4: doesn't really know or care about what's happening in the

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Speaker 4: rest of the country.

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Speaker 2: Well, you know, some would say, okay, great, but we've

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Speaker 2: got to do it right. Bring him up and have

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Speaker 2: him confirmed by the Senate. Let's do a background check.

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Speaker 4: Oh yeah, I wouldn't mind that much. I don't know

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Speaker 4: how long. I mean, this is an eighteen month gig.

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Speaker 4: If they want to go through a confirmation process, that

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Speaker 4: I would have been fine with that. I think he

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Speaker 4: would have gotten through just fine. You know, it seems

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Speaker 4: like even some of the other more controversial confirmation picks,

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Speaker 4: they're actually doing better than I thought.

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Speaker 3: Right, Susan Collins is now on.

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Speaker 2: Board with kelse I look like the clean RFK Junior

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Speaker 2: Ye Committee board. Absolutely, So it's just a matter of

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Speaker 2: getting this to the floor. At this point, I mentioned

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Speaker 2: the coache what is it the.

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Speaker 3: Commit mission, not the department or whatever it is.

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Speaker 2: Don't these in concepts sort of make the argument that

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Speaker 2: our system of government is broken, that you can't trust lawmakers,

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Speaker 2: that you have to have an outside entity to make

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Speaker 2: it work.

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Speaker 4: Right, I don't think it's broken, and I don't think

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Speaker 4: it's a lack of trust in terms of what their

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Speaker 4: motives are. I do think at least at the state level.

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Speaker 4: Why I like this coach concept. At the different state levels,

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Speaker 4: there's much more accountability to what you're doing that in

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Speaker 4: that case of New Hampshire.

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Speaker 3: They're doing a commission, which I like.

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Speaker 4: It's short term, led by business leaders holding a lot

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Speaker 4: of accountability within the departments at a time when again,

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Speaker 4: we have very little debt in New Hampshire, we have

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Speaker 4: no taxes in New Hampshire. We're very fiscally sound in

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Speaker 4: New Hampshire. But I think they're planning for what is

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Speaker 4: likely going to be.

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Speaker 3: A couple of years.

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Speaker 4: It's not gonna be a recession, but it's definitely gonna

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Speaker 4: be a bit of a flattening of the exponential growth

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Speaker 4: we've seen in twenty twenty one, twenty two. I'm sorry

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Speaker 4: twenty one, twenty two, twenty three with inflation. I don't

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Speaker 4: think inflation is really going away. I think a lot

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Speaker 4: of if you look at what Chairman Powell is as

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Speaker 4: indicated on that and what the Fed looks like they're

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Speaker 4: going to do. So they're just saying, let's, at least

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Speaker 4: at the local level, we have to be smart, plan ahead,

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Speaker 4: make some tough cuts today to have opportunity tomorrow. Washington

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Speaker 4: doesn't think like that, which is why they have such

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Speaker 4: massive debt and the rest of the States don't.

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Speaker 2: Interesting Donald Trump making good on threats of tariffs this week. Interesting,

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Speaker 2: none of them are in effect other than China, because

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Speaker 2: he pulled back on both Mexico and Canada following these

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Speaker 2: eleventh hour calls. People talk about border states. You ran

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Speaker 2: one northern border, Yeah, talk to me about the urgency

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Speaker 2: to shut down our northern border when it comes to

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Speaker 2: things like fentanyl. We understand it was forty three pounds

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Speaker 2: across the border as opposed to twenty one thousand for

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Speaker 2: the Mexican border. Do we need ten troops? Did you

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Speaker 2: have that many illegals?

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Speaker 6: So?

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Speaker 4: New Hampshire's part of what they called the Swanton sector.

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Speaker 4: I don't want to get to wonky for your crowd,

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Speaker 4: but it's basically Maine, New Hampshire, Vermont into eastern New York.

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Speaker 4: We were the only state up there that really put

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Speaker 4: our own dollars because we couldn't get federal help from

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Speaker 4: the National Department of Homeland Security. They refuse to give

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Speaker 4: us what they call a delegation agreement, which basically says, hey,

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Speaker 4: we're going to empower your team to do what we

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Speaker 4: can't do. And they had taken our border patrol agents

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Speaker 4: from the northern border and sent them to the southern border.

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Speaker 4: Because the crisis was so big there, which exacerbated the problem.

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Speaker 4: Now I created a law enforcement initiative put a couple

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Speaker 4: million bucks up there, which basically coordinated all of our

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Speaker 4: law enforcement on our side with the Canadians on their side.

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Speaker 3: Very successful. The surrounding states.

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Speaker 4: Didn't do it, so it wasn't we didn't see Once

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Speaker 4: we did that, we didn't see almost any cross.

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Speaker 2: Because they were going to Vermont.

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Speaker 4: Quickly, the word got out in Quebec, do not go

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Speaker 4: to New Hampshire. They take this stuff seriously. They would

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Speaker 4: go to Vermont, New York and especially Buffalo. They come

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Speaker 4: through what they call the Buffalo Sector trying to get

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Speaker 4: to New York. Now, is the issue of fentanyl real,

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Speaker 4: Absolutely it is. I mean we were at the tip

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Speaker 4: of the spear for the fentanyl crisis.

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Speaker 3: The border crossings are very real.

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Speaker 4: The combined number of board and crossings over the last

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Speaker 4: three years on the northern border, just in the last

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Speaker 4: year we're ten times that of all the previous years

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Speaker 4: added up. So it's not the southern border, but it

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Speaker 4: is growing exponentially. There's a few different pieces that probably

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Speaker 4: didn't get covered. Canada has agreements with certain countries that

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Speaker 4: allowed them to basically fly in visa free and those

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Speaker 4: folks would get off the plane in Montreal and Toronto

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Speaker 4: and walk right over the border. That's what Trump is

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Speaker 4: really trying to seal up the coordination with law enforcement,

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Speaker 4: and it's having an effect.

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Speaker 3: It's effective.

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Speaker 4: Now it's going to hurt, right, It's going to hurt

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Speaker 4: certain businesses across the country, especially in New Hampshire.

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Speaker 3: There's no question, but I believe Trump tariffs are the security.

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Speaker 3: The terrafs know the security's gray.

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Speaker 4: The terrafts are going to be I think they're doing

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Speaker 4: them fast, hard and early because they know it's going

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Speaker 4: to be a bandy that has to get ripped off

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Speaker 4: to find that resolution. And if they have to take

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Speaker 4: some pain for a couple months to get to where

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Speaker 4: they want to get long term, obviously it's smarter to

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Speaker 4: do that earlier than.

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Speaker 2: Think about lumber, your home builders, your farmers, what.

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Speaker 4: Are they softwood? Maple syrup. We have the best maple

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Speaker 4: syrup in the world. I'd just like to brag about

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Speaker 4: that a little bit. Sorry, Vermont takes second place, but

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Speaker 4: you know, a lot of the equipment to make our

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Speaker 4: maple syrup, which is a huge industry for US all

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Speaker 4: comes from Canada, right, So there's a lot of things

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Speaker 4: that cross it. There are products that will cross the

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Speaker 4: US Canadian border six times before it actually gets complete

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Speaker 4: to vehicles, vehicles, trucks, So you're people.

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Speaker 2: Pounding this tariff into triple digits. At that point, it.

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Speaker 3: Can be a real problem.

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Speaker 4: But I do believe if it gets us to a

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Speaker 4: better sense of border security, a better partnership with our

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Speaker 4: ally Canada and ultimately with Mexico, all the better.

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Speaker 3: You have to do it fast and hard.

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Speaker 4: We've had no management of this for four years, so

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Speaker 4: he's going fast and hard to kind of make up

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Speaker 4: a little bit for what just hasn't been done.

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Speaker 2: You go with Grade B. Somebody told me recently Grade

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Speaker 2: B tastes better than Grade A seriuce to England, and

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Speaker 2: I never heard that before.

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Speaker 4: It's a little lighter, great a maple, sir, I didn't

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Speaker 4: think we're gonna get into that great a MAPLESRP is

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Speaker 4: a little darker. I think it's a little later on

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Speaker 4: in the season, but Grade B I like it lighter.

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Speaker 4: It's a forty to one. If you tap forty gallons

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Speaker 4: of SAP, you get about one gallon of serp.

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Speaker 3: I'm more of a twenty to one guy. I like

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Speaker 3: it a little lighter, but that's.

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Speaker 2: A different See. This is the kind of stuff things

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Speaker 2: you learn on Blue They're out of office, all right,

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Speaker 2: So just one more for you here. You look south

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Speaker 2: of the border to Boston, Michelle Wou.

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Speaker 3: I love when we say New Hampshire.

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Speaker 2: When we say south of the l we're talking border

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Speaker 2: states here, Michelle Wou, the darling of Massachusetts or Boston.

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Speaker 2: Liberals incomes Joshua Craft, another Democrat, but maybe one Chris

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Speaker 2: Sanunu would be more comfortable with running the city above.

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Speaker 4: So I'm going to be super polite and political and

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Speaker 4: say when it comes to Michelle Wu, I think the

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Speaker 4: term is lunatic. Okay, yeah, I think she's the most

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Speaker 4: anti business, pro government, big spender, big taxer that you've

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Speaker 4: ever seen, to the point where it has been out

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Speaker 4: so many businesses out of Boston.

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Speaker 3: New Hampshire's flourishing.

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Speaker 4: They're all coming to the tax free suburb of Boston,

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Speaker 4: which is called New Hampshire, right, And I want Boston

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Speaker 4: to be strong. I want Boston to be it's an

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Speaker 4: economic driver for all of New England.

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Speaker 3: And what she.

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Speaker 4: Along with more heal you have really done is just

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Speaker 4: a travesty. If whether if Joshua Craft can come in

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Speaker 4: and is willing to put himself on the line, and look,

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Speaker 4: I've been in politics.

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Speaker 3: It stinks.

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Speaker 4: It's very is a lot of exposure. It's tough on

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Speaker 4: your family go through all this scrutiny.

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Speaker 3: He does.

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Speaker 4: He doesn't need the money, he doesn't need to do it,

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Speaker 4: but he loves his state and God bless it.

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Speaker 3: I'd be behind him one hundred ten percent. There you go.

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Speaker 3: I hope you're listening in New England as a whole.

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Speaker 6: And he made the.

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Speaker 2: Announcement in Dorchester this morning. I guess we're off for

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Speaker 2: the races here.

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Speaker 3: I'm behind him one hundred percent.

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Speaker 2: All right, Grade B, don't forget that. I hope you're

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Speaker 2: going to come back often to the extent that you

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Speaker 2: can hold your nose and come to Washington.

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Speaker 3: I love it. If in this room we're doing okay,

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Speaker 3: very well.

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Speaker 2: The far Republican governor of New Hampshire a lot to

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Speaker 2: talk about. As always with Chris Sanunu on the fastest

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Speaker 2: show in politics.

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Speaker 1: You're listening to The Bloomberg Balance of Power podcasts. Catch

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Speaker 1: us live weekdays at noon and five pm Eastern on

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Speaker 1: Apple Cocklay and Android Auto with the Bloomberg Business App.

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Speaker 1: You can also listen live on Amazon Alexa from our

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Speaker 1: flagship New York station, Just say Alexa play Bloomberg eleven thirty.

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Speaker 7: We want to go now to Capitol Hill, where a

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Speaker 7: lot of these conversations are ongoing, and pleased to stay

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Speaker 7: joining us on Balance of Power here on Bloomberg TV

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Speaker 7: and Radio's Republican Senator Bill Haggerty of Tennessee. Senator, welcome back,

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Speaker 7: and there's obviously much we'd like to discuss with you,

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Speaker 7: including your new stable coin legislation. But if we could

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Speaker 7: first begin with tariffs, as that has dominated the news

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Speaker 7: cycle in the last several days, how are you viewing

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Speaker 7: what President Trump is actually using these levees for. If

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Speaker 7: it was just to extract concessions from Canada and Mexico,

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Speaker 7: or if this is really about raising revenue to pay

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Speaker 7: for tax cuts.

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Speaker 6: Well the answer is both. But President Trump was very

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Speaker 6: clear when he imposed the rev when he imposed the

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Speaker 6: tariffs on Canada and Mexico, that they needed to do

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Speaker 6: something dramatic to stop the flow of illegal migrants coming

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Speaker 6: into our country, the flow of fentanyl coming into our country.

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Speaker 6: The human trafficking that has been the primary and overarching concern,

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Speaker 6: and I've made it clear to that people reached out

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Speaker 6: to me from both nations that it's clear there's something

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Speaker 6: they can do about it. They need to step up,

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Speaker 6: and frankly they have. President Trump was clear about what

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Speaker 6: he wanted to see happen, and the Mexican government and

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Speaker 6: the Canadian government, they're both stepping up to stop the

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Speaker 6: flow of fentanyl, to address issues at they're border, to

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Speaker 6: maintain border security on their side, and to be better partners.

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Speaker 6: That's what he's trying to accomplish, and I think that's

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Speaker 6: what he's achieved.

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Speaker 2: Well, you're, of course a former diplomat senator, as you

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Speaker 2: represented the United States as our ambassador to Canada. So

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Speaker 2: it gives you to Japan, forgive me. We've been talking

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Speaker 2: about a lot of Canada a lot here in that

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Speaker 2: period of time. Now, that gave you a unique view

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Speaker 2: on these issues that maybe not all lawmakers have. Are

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Speaker 2: tariffs or threats of tariffs, the new form of diplomacy

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Speaker 2: in this administration.

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Speaker 6: Well, Joe, this is an important piece of context. We've

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Speaker 6: talked about it before, but the United States has basically

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Speaker 6: the lowest trade weighted tariffs in the world. Access to

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Speaker 6: our markets has been extraordinarily easy. There's a historic reason

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Speaker 6: for this. For countries like Japan, countries in europehose economies

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Speaker 6: were devastated after World War Two, we aggressively made our

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Speaker 6: economy open to them so they wouldn't turn toward communism

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Speaker 6: and socialism. But we should have time limited that, we

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Speaker 6: should have put some sort of GDP per capital limit

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Speaker 6: on it, because what we have now are extremely unfair

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Speaker 6: and non reciprocal trade terms with many of our trading partners.

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Speaker 6: President Trump has been clear he's just trying to bring

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Speaker 6: a reciprocity to bear, trying to get us to the

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Speaker 6: table with an even deal. A lot of these countries

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Speaker 6: that don't want to address this do so because they

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Speaker 6: have a better deal now than we do. We're going

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Speaker 6: to fix that. President Trump has been clear about it,

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Speaker 6: and I'm very pleased to see him take decisive action

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Speaker 6: in that regard.

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Speaker 7: Well, Senator, if we could leave the diplomatic hat on

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Speaker 7: for a moment longer, I do wonder what you make

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Speaker 7: of the efforts, or at least on the part of

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Speaker 7: Elon Musk, And he says he is the President's buy

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Speaker 7: in to dismantle USAID. What does that do to US

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Speaker 7: soft power?

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Speaker 6: Well, you've got a lot of significant problems at USAI

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Speaker 6: D some of the things that have come to bear,

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Speaker 6: some of the things that have come to light in

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Speaker 6: terms of US taxpayer dollars going to DEI initiatives, transgender

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Speaker 6: surgeries in Guatemala, things of this nature. I think the

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Speaker 6: American public is shocked, and the fact that we're basically

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Speaker 6: taking a pause, taking a very hard look and looking

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Speaker 6: at agencies like this that have basically gotten out of control.

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Speaker 6: I think the time has come. The American public are

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Speaker 6: ready for it. That doesn't mean that we will not

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Speaker 6: have aid programs going forward, but you've got Secretary of

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Speaker 6: State Marco Rubio taking charge here. He's going to make

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Speaker 6: certain that those those AID programs go to advancing US

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Speaker 6: interest and not some of these wild eyed exploits that

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Speaker 6: the previous administration and administrations prior to that have been

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Speaker 6: on the USAID. Again, basically out of control organization. I'm

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Speaker 6: glad to see it rained in.

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Speaker 2: Well, we've seen some pretty interesting exploits on behalf of

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Speaker 2: DOGE and by Elon Musk. It's not just usaid. Of course,

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Speaker 2: it's accessing the payment system inside the US Treasury Department. Senator,

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Speaker 2: and we understand that Musk is now a special government employee,

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Speaker 2: something that emerged in just the last couple of days

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Speaker 2: with the Education Department. Now the next target as a

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Speaker 2: senator providing advice and consent. Would you like Elon Musk

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Speaker 2: to come up to Capitol Hill to endure a confirmation

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Speaker 2: hearing since this apparently is a government job.

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Speaker 6: Well, the special Government employee classification is about one hundred

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Speaker 6: and thirty days. That allows people to come in from

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Speaker 6: the outside, often people that are very capable, as is

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Speaker 6: Elon Musk, to come in and provide special advice to

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Speaker 6: the president. It's a tool that has been used in

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Speaker 6: administration's Republican and Democrat. I'm glad to see this sort

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Speaker 6: of expertise deployed. Elon Musk obviously knows how to come

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Speaker 6: in and streamline operations and make things work more efficiently.

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Speaker 6: Look what he did at Twitter, so I'm very pleased

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Speaker 6: to see him step in and do this. This doesn't

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Speaker 6: require confirmation, it's not that type of position, but he

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Speaker 6: is offering his advice and President Trump has been clear

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Speaker 6: where he wants to accept the advice. Where he feels

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Speaker 6: Elon musk efforts are warranted, he's going to deploy him there.

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Speaker 6: I've talked with Elon about what he's doing. I think

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Speaker 6: he's got some very creative ideas about bringing much needed

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Speaker 6: deficiency and actually getting far higher return on investment for

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Speaker 6: the taxpayer dollar.

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Speaker 7: But is there a rule for Congress to place or

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Speaker 7: to ensure that whatever access he's granted at Treasury, whether

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Speaker 7: it's to the payment system specifically or in other cases,

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Speaker 7: that it isn't going to interfere with the Treasury's usual

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Speaker 7: business of paying bondholders and conducting auctions.

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Speaker 6: Well, we certainly have oversight responsibility, Kaylee, we intend to

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Speaker 6: fully exercise that. That's not what I've talked with Elon

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Speaker 6: about doing. He's looking for efficiencies, ways to do things better,

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Speaker 6: to stop doing things that aren't advancing US interest, and

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Speaker 6: to do things that double down on things that are

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Speaker 6: going to become more and more productive for US taxpayers

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Speaker 6: and advance the American cause. It's not unusual at all

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Speaker 6: to take a pause to take a hard look in

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Speaker 6: survey what's happening inside these agencies. I'm glad that he's

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Speaker 6: doing it. I think there's a lot of pear clutching

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Speaker 6: going on right now and a lot of expectation that

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Speaker 6: something terrible is going to happen. Know in fact, what

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Speaker 6: I think is we're going to see is a new

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Speaker 6: wave of assistancy come from all of this, and I'm

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Speaker 6: looking forward to it.

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Speaker 2: Well, just wait for the pear clutching to start. When

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Speaker 2: you start debating taxes and reconciliation, Senator, I have to

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Speaker 2: ask you about where all this stands, because these were

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Speaker 2: supposed to come as a package. Right you'd extend the

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Speaker 2: Trump tax cuts, maybe get some of the other things

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Speaker 2: that Donald Trump had promised on the campaign trail, and

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Speaker 2: offset those with revenue from tariffs that had been promised

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Speaker 2: during the campaign as well. We talked to Scott Besson

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Speaker 2: about that at length before he was tapped to be

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Speaker 2: the Treasury Secretary. With tariffs put aside here, you still

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Speaker 2: have to have a debate over taxes, and as the

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Speaker 2: House drags its feet on this, I wonder if the

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Speaker 2: Senate and your new leader in John Thune, might help

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Speaker 2: to lead the way what's about to happen.

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Speaker 6: Well, Joe I met with John Thune last night. A

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Speaker 6: group of US did. We're continuing to advance the ball

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Speaker 6: on this very subject. Again, we know the American public

439
00:18:54,520 --> 00:18:57,679
Speaker 6: expects us to address the tax package and where we're

440
00:18:57,720 --> 00:18:59,440
Speaker 6: going to do that. We have a number of other

441
00:18:59,440 --> 00:19:01,680
Speaker 6: issues that were to address at the same time. How

442
00:19:01,720 --> 00:19:03,760
Speaker 6: we do it from a process standpoint, I'm much less

443
00:19:03,800 --> 00:19:06,720
Speaker 6: concerned about. I think the concern is that we get

444
00:19:06,720 --> 00:19:09,000
Speaker 6: it done quickly, that we get it done efficiently, and

445
00:19:09,040 --> 00:19:12,119
Speaker 6: I'm optimistic that we will get it done despite the

446
00:19:12,160 --> 00:19:14,679
Speaker 6: procedural back and forth between the House and the Senate.

447
00:19:15,040 --> 00:19:16,560
Speaker 6: We're going to get it done and we're very focused

448
00:19:16,600 --> 00:19:16,800
Speaker 6: on it.

449
00:19:18,320 --> 00:19:20,800
Speaker 7: Senator, I'd like to talk about something else you're looking

450
00:19:20,800 --> 00:19:22,760
Speaker 7: to get done in the Senate, and that's new stable

451
00:19:22,800 --> 00:19:27,120
Speaker 7: coin legislation you've introduced alongside Senator's Lummus and jilibrand, calling

452
00:19:27,119 --> 00:19:29,399
Speaker 7: it the Genius Act. And I do wonder about the

453
00:19:29,440 --> 00:19:32,720
Speaker 7: timeline here. Is it your intent that this legislation be

454
00:19:32,840 --> 00:19:36,720
Speaker 7: pushed through before broader market structure legislation, for example, that

455
00:19:36,760 --> 00:19:39,640
Speaker 7: maybe wor could sway through both the Banking and agg

456
00:19:39,680 --> 00:19:41,320
Speaker 7: oriented committees in both chambers.

457
00:19:42,000 --> 00:19:44,040
Speaker 6: Sure, and Kaylee, I'll add Senator Tim Scott that chair

458
00:19:44,080 --> 00:19:46,119
Speaker 6: of the Banking Committee is on this legislation with us.

459
00:19:46,200 --> 00:19:48,560
Speaker 6: We're very excited about it. This is the first step,

460
00:19:48,640 --> 00:19:50,320
Speaker 6: and we're going to do this first before we get

461
00:19:50,320 --> 00:19:53,400
Speaker 6: to broader market structure. But it's going to enable us

462
00:19:53,440 --> 00:19:55,919
Speaker 6: to take a very positive step in the direction of

463
00:19:56,080 --> 00:19:59,439
Speaker 6: ensuring that the United States is a positive environment for

464
00:19:59,480 --> 00:20:03,600
Speaker 6: cryptoc ency technology. Stable Coins is one of these issues

465
00:20:03,640 --> 00:20:05,639
Speaker 6: that I think the United States can be a leader on.

466
00:20:06,000 --> 00:20:08,159
Speaker 6: It's time for us to do so. Look, they're roughly

467
00:20:08,240 --> 00:20:11,760
Speaker 6: twenty eight trillion dollars worth of stable coin transaction is

468
00:20:11,760 --> 00:20:13,879
Speaker 6: taking place right now across the world. We need to

469
00:20:13,920 --> 00:20:16,239
Speaker 6: be a leader here in America. This legislation allows us

470
00:20:16,280 --> 00:20:19,159
Speaker 6: to do that, and I'm extraordinarily optimistic that we're taking

471
00:20:19,200 --> 00:20:21,480
Speaker 6: that lead. It's going to open the door for many

472
00:20:21,520 --> 00:20:23,680
Speaker 6: other positive things in the industry, and I'm so excited

473
00:20:23,680 --> 00:20:25,720
Speaker 6: to have my colleagues on both sides of the aisle

474
00:20:25,800 --> 00:20:28,280
Speaker 6: join me here. This is going to be an important

475
00:20:28,359 --> 00:20:30,680
Speaker 6: first step to opening up the market here in America.

476
00:20:31,800 --> 00:20:36,639
Speaker 2: Senator President Trump is hosting Israeli Prime Minister Benjaminett Yahoo today,

477
00:20:36,680 --> 00:20:39,720
Speaker 2: the first world leader to visit the new presidents in

478
00:20:39,760 --> 00:20:41,840
Speaker 2: this second term. They're going to be holding a news

479
00:20:41,840 --> 00:20:44,000
Speaker 2: conference a little bit later on that we will carry

480
00:20:44,600 --> 00:20:48,239
Speaker 2: if you could put your diplomatic hat back on and

481
00:20:48,600 --> 00:20:50,800
Speaker 2: explore what these two are going to be talking about

482
00:20:50,840 --> 00:20:52,600
Speaker 2: when it comes number one, to a phase two and

483
00:20:52,640 --> 00:20:55,479
Speaker 2: a cease fire. But maybe more importantly, this report by

484
00:20:55,480 --> 00:20:58,280
Speaker 2: the New York Times today that Iran is developing plans

485
00:20:58,280 --> 00:21:04,040
Speaker 2: for a faster cruider weapon based on intelligence here in

486
00:21:04,080 --> 00:21:06,800
Speaker 2: the United States. There are some who suggest this is

487
00:21:06,840 --> 00:21:10,159
Speaker 2: the time now to preemptively strike Iran while it's on

488
00:21:10,240 --> 00:21:12,280
Speaker 2: its heels. Are you one of them?

489
00:21:12,720 --> 00:21:14,879
Speaker 6: Well, Joe, the last thing I'm going to do is

490
00:21:14,880 --> 00:21:17,480
Speaker 6: get ahead of the President and Prime Minister Netanya, who

491
00:21:17,600 --> 00:21:20,800
Speaker 6: on this very important strategic discussion. But I'll say this,

492
00:21:21,280 --> 00:21:23,199
Speaker 6: these two gentlemen are not afraid to point to the

493
00:21:23,200 --> 00:21:25,120
Speaker 6: real cause of all this disruption in the Middle East,

494
00:21:25,119 --> 00:21:29,520
Speaker 6: and that is Iran. They're proxies the Huthis Hamas Hesbola.

495
00:21:29,880 --> 00:21:32,399
Speaker 6: They've been behind all of this disruption. But this is

496
00:21:32,440 --> 00:21:35,560
Speaker 6: Iranian funding, Iranian technology behind all of it. So I

497
00:21:35,600 --> 00:21:37,239
Speaker 6: think the New York Times is right to look at

498
00:21:37,240 --> 00:21:39,760
Speaker 6: the cause here. It finally you will see I think

499
00:21:39,800 --> 00:21:42,640
Speaker 6: both gentlemen today who are meeting talking about Iran as

500
00:21:42,640 --> 00:21:45,040
Speaker 6: the proximate cause for this terrorism, and what we've seen

501
00:21:45,400 --> 00:21:49,199
Speaker 6: is Iran significantly weakened by the actions of the Israeli government.

502
00:21:49,600 --> 00:21:53,080
Speaker 6: What they've done in southern Lebanon, taking Hesbela down, what's

503
00:21:53,080 --> 00:21:56,919
Speaker 6: happened in Syria, I think is significantly exposed and weakened Iran.

504
00:21:57,720 --> 00:22:01,399
Speaker 6: They are not nation that they'd like us to believe

505
00:22:01,400 --> 00:22:03,720
Speaker 6: they are. And I think you'll see a strong and

506
00:22:03,880 --> 00:22:07,080
Speaker 6: united American in Israeli front standing up to iron. But

507
00:22:07,119 --> 00:22:09,160
Speaker 6: I won't go beyond the specifics at that point.

508
00:22:10,359 --> 00:22:11,960
Speaker 2: It's good to have you back, Senator. We'll of course

509
00:22:12,040 --> 00:22:16,760
Speaker 2: be listening when the bilateral news conference begins after five pm.

510
00:22:16,800 --> 00:22:20,080
Speaker 2: Bill Haggerty, the Republican Senator from Tennessee, Kaylee, we covered

511
00:22:20,080 --> 00:22:21,320
Speaker 2: a lot of ground there. We're going to cover a

512
00:22:21,359 --> 00:22:23,320
Speaker 2: lot of ground as well, coming up with our political panel.

513
00:22:23,440 --> 00:22:25,960
Speaker 7: That's right. Lisa Camussa Miller and Jeanie Shanzano will be

514
00:22:26,000 --> 00:22:27,840
Speaker 7: with us as we talk about what's developing in the

515
00:22:27,880 --> 00:22:30,959
Speaker 7: Senate today. Looks like RFK Junior and Tulsea Gabbard may

516
00:22:30,960 --> 00:22:33,760
Speaker 7: be getting confirmed to Trump's cabinet after all, though the

517
00:22:33,800 --> 00:22:36,119
Speaker 7: Gabbard vote hasn't happened yet. We'll look ahead to it

518
00:22:36,160 --> 00:22:41,359
Speaker 7: here on Balance of Power on Bloomberg TV and radio.

519
00:22:42,440 --> 00:22:45,920
Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch

520
00:22:46,000 --> 00:22:49,399
Speaker 1: us live weekdays at noon and five pm Eastern on Apple,

521
00:22:49,480 --> 00:22:52,840
Speaker 1: Cockley and Android Auto with the Bloomberg Business Up. Listen

522
00:22:52,920 --> 00:22:56,000
Speaker 1: on demand wherever you get your podcasts, or watch us

523
00:22:56,040 --> 00:22:58,760
Speaker 1: live on YouTube.

524
00:22:57,520 --> 00:23:02,399
Speaker 7: Politics and it's often intercept as we're seeing take place

525
00:23:02,720 --> 00:23:05,520
Speaker 7: in vaccine stocks today, after the news that RFK Jor

526
00:23:06,000 --> 00:23:09,240
Speaker 7: got through the Senate Finance Committee as he heads for

527
00:23:09,320 --> 00:23:12,720
Speaker 7: confirmation to be Health and Human Services Secretary. The committee

528
00:23:12,760 --> 00:23:16,159
Speaker 7: voting to advance his nomination to the Senate floor on

529
00:23:16,240 --> 00:23:21,159
Speaker 7: a party line vote, fourteen Republicans said yes, thirteen Democrats

530
00:23:21,200 --> 00:23:23,760
Speaker 7: voted against him, and interestingly, the one Republican we were

531
00:23:23,800 --> 00:23:27,840
Speaker 7: all watching, a medical doctor, Senator Bill Cassidy of Louisiana,

532
00:23:27,920 --> 00:23:31,040
Speaker 7: ultimately decided to support RFK Junior. And here was his

533
00:23:31,119 --> 00:23:33,159
Speaker 7: explanation for that on the Senate floor.

534
00:23:34,240 --> 00:23:40,560
Speaker 8: It's been a long, intense process, but I've assessed it

535
00:23:42,040 --> 00:23:47,480
Speaker 8: as I would assess a patient as a physician. Ultimately,

536
00:23:47,520 --> 00:23:50,960
Speaker 8: restoring trust in our public health institution is too important,

537
00:23:52,160 --> 00:23:54,560
Speaker 8: and I think mister Kennedy can help get that done.

538
00:23:56,320 --> 00:23:59,200
Speaker 2: Before we start our conversation with our political panel today,

539
00:23:59,440 --> 00:24:03,000
Speaker 2: Jenny Shan say No Bloomberg Politics contributor and Democratic analyst,

540
00:24:03,080 --> 00:24:08,000
Speaker 2: political science professor at Iona University, alongside Lisa Camuso Miller,

541
00:24:08,080 --> 00:24:11,960
Speaker 2: Republican strategistic former r NC communications director. It's great to

542
00:24:12,000 --> 00:24:15,359
Speaker 2: have you both here. You consider, Lisa, what was at

543
00:24:15,440 --> 00:24:18,480
Speaker 2: stake and what Bill Cassidy, a medical doctor, had to

544
00:24:18,520 --> 00:24:22,800
Speaker 2: say about his concerns surrounding RFK Junior his stand on

545
00:24:22,960 --> 00:24:26,639
Speaker 2: any number of issues, beginning with vaccines. You see the

546
00:24:26,680 --> 00:24:30,639
Speaker 2: tweet from Clay Higgins, vote your conscience, Senator or don't

547
00:24:30,680 --> 00:24:33,960
Speaker 2: either way we're watching. Was this the system working or

548
00:24:34,119 --> 00:24:38,360
Speaker 2: just a classic case of a pressure campaign in Washington?

549
00:24:39,680 --> 00:24:41,719
Speaker 9: Yeah, it feels like a pressure campaign, Joe. I mean,

550
00:24:41,760 --> 00:24:44,119
Speaker 9: there's no doubt about that. This is exactly how this

551
00:24:44,320 --> 00:24:47,119
Speaker 9: was going to happen. And also too, you know, there

552
00:24:47,160 --> 00:24:50,080
Speaker 9: are members who are emboldened, right they feel as if

553
00:24:50,440 --> 00:24:53,760
Speaker 9: they can behave this way, they can lodge these kinds

554
00:24:53,800 --> 00:24:57,760
Speaker 9: of threats to one another. It's what's causing a lot

555
00:24:57,800 --> 00:25:01,280
Speaker 9: of dissatisfaction inside the Congress. And so my hope is

556
00:25:01,320 --> 00:25:04,159
Speaker 9: that that's sort of an outlier and that there's a

557
00:25:04,160 --> 00:25:08,400
Speaker 9: more productive conversation that's happening inside the Senate. It certainly

558
00:25:08,400 --> 00:25:10,880
Speaker 9: feels that way based on the comments from the Senator

559
00:25:10,920 --> 00:25:13,520
Speaker 9: as it relates to how he made his decision. Ultimately,

560
00:25:13,960 --> 00:25:17,920
Speaker 9: and this is a nominee that was the recommendation from

561
00:25:17,960 --> 00:25:20,800
Speaker 9: the President. I think a lot of the Senate members

562
00:25:20,840 --> 00:25:24,119
Speaker 9: have decided that it's in their very best interest to

563
00:25:24,359 --> 00:25:28,880
Speaker 9: allow these nominees play out and to make those decisions

564
00:25:28,880 --> 00:25:32,280
Speaker 9: now that they have all the information at hand, and

565
00:25:32,720 --> 00:25:35,360
Speaker 9: we're going to proceed and see how this all goes.

566
00:25:36,920 --> 00:25:39,600
Speaker 7: Well, indeed we will. Jeanie, are you surprised at all

567
00:25:39,640 --> 00:25:42,760
Speaker 7: here that everyone fell in line behind RFK Junior at

568
00:25:42,800 --> 00:25:44,639
Speaker 7: least to this point, knowing we still have to do

569
00:25:44,760 --> 00:25:46,919
Speaker 7: the full vote on the Senate floor and there is

570
00:25:46,960 --> 00:25:49,680
Speaker 7: still some room for dissent there. But is this how

571
00:25:49,680 --> 00:25:50,480
Speaker 7: you saw this going?

572
00:25:52,080 --> 00:25:55,120
Speaker 10: Yeah, I mean, statistically, they all get through once they

573
00:25:55,160 --> 00:25:58,960
Speaker 10: go through this, you know, the hearings. But let's just

574
00:25:59,040 --> 00:26:02,399
Speaker 10: go back to cas for a minute. He said that

575
00:26:02,560 --> 00:26:06,479
Speaker 10: he was concerned that URFK Junior in the hearing could

576
00:26:06,480 --> 00:26:10,359
Speaker 10: not reflect these science that everybody agrees, which says there

577
00:26:10,400 --> 00:26:15,160
Speaker 10: is absolutely no connection between vaccines and autism that has

578
00:26:15,200 --> 00:26:19,240
Speaker 10: been long debunked. Everybody knows it except RFK Junior. Unwilling

579
00:26:19,280 --> 00:26:22,600
Speaker 10: to say that. Cassidy now says it's okay because he

580
00:26:22,680 --> 00:26:25,760
Speaker 10: got a confirmation from URFK Junior. He's not going to

581
00:26:25,840 --> 00:26:28,320
Speaker 10: change the CDC website, not going to change any of

582
00:26:28,400 --> 00:26:34,080
Speaker 10: the language. Literally two hours ago on Truth Social Donald

583
00:26:34,119 --> 00:26:37,560
Speaker 10: Trump says this twenty years ago, autism and children is

584
00:26:37,600 --> 00:26:40,840
Speaker 10: one in ten thousand. Now it's one in thirty four. Wow,

585
00:26:41,119 --> 00:26:45,560
Speaker 10: something's really wrong. We need Bobby, thank you. How is

586
00:26:45,640 --> 00:26:50,680
Speaker 10: Cassidy planning to control the president who is going out

587
00:26:50,720 --> 00:26:53,959
Speaker 10: and saying things that have been absolutely debunked about the science.

588
00:26:54,200 --> 00:26:57,159
Speaker 10: And that's where Cassidy's claim falls apart. Yeah, he's a

589
00:26:57,240 --> 00:26:59,840
Speaker 10: victim of a pressure campaign. He looks like he's going

590
00:26:59,880 --> 00:27:01,800
Speaker 10: to vote for this on the floor. But what he

591
00:27:01,840 --> 00:27:04,239
Speaker 10: has done as a medical doctor is ensured that a

592
00:27:04,320 --> 00:27:08,320
Speaker 10: longtime vaccine skeptic who won't go in the cotton floor

593
00:27:08,560 --> 00:27:11,560
Speaker 10: and say that this is debunked science, is now going

594
00:27:11,640 --> 00:27:14,600
Speaker 10: to be CDC Director, Health and Human Services Secretary under

595
00:27:14,600 --> 00:27:19,440
Speaker 10: a president two hours ago said it's questionable if vaccines

596
00:27:19,480 --> 00:27:21,560
Speaker 10: cause autism.

597
00:27:22,000 --> 00:27:24,879
Speaker 2: Yeah, he is the President has since started truthing about

598
00:27:24,880 --> 00:27:28,840
Speaker 2: the passing of Tiger Wood's mother, Genie. But Lisa, just

599
00:27:28,840 --> 00:27:32,639
Speaker 2: if you could weigh in on that most recent post.

600
00:27:32,680 --> 00:27:36,280
Speaker 2: Twenty years ago, the President wrote Autism and Children was

601
00:27:36,320 --> 00:27:39,880
Speaker 2: one in ten thousand. Now it is one in thirty four. Wow,

602
00:27:39,920 --> 00:27:43,520
Speaker 2: exclamation points. Something's really wrong. We need Bobby, thank you,

603
00:27:43,880 --> 00:27:46,440
Speaker 2: And he did write it. It's signed DJT. What does

604
00:27:46,440 --> 00:27:50,560
Speaker 2: that tell us about the future of vaccine program, particularly

605
00:27:50,560 --> 00:27:51,520
Speaker 2: for kids in America.

606
00:27:55,200 --> 00:27:55,680
Speaker 6: It would be.

607
00:27:55,600 --> 00:27:58,280
Speaker 9: Foolish for any of us to not reflect back on

608
00:27:58,320 --> 00:28:01,679
Speaker 9: the way that the President addressed scenes during the COVID

609
00:28:01,720 --> 00:28:07,080
Speaker 9: pandemic to believe that he would have any healthy understanding

610
00:28:07,119 --> 00:28:10,359
Speaker 9: of how important they are in terms of health development

611
00:28:10,400 --> 00:28:11,080
Speaker 9: in the country.

612
00:28:11,480 --> 00:28:13,440
Speaker 10: It's just feeding.

613
00:28:13,080 --> 00:28:19,760
Speaker 9: Into this overall sense of everything is broken, everything needs

614
00:28:19,760 --> 00:28:23,320
Speaker 9: to be reconsidered, and it's all part of the brand

615
00:28:23,359 --> 00:28:25,959
Speaker 9: that we're seeing coming out of the new administration. And

616
00:28:26,040 --> 00:28:29,720
Speaker 9: so to think we're going back to another way of

617
00:28:29,800 --> 00:28:33,320
Speaker 9: thinking is wrongheaded. Look, I don't like it either, and

618
00:28:33,680 --> 00:28:37,480
Speaker 9: I feel Genie's unhappiness is palpable, and I'm with her.

619
00:28:37,760 --> 00:28:41,880
Speaker 9: This is really super uncomfortable and worrisome. But it's foolish

620
00:28:41,880 --> 00:28:43,680
Speaker 9: for us to sit here and think that this is

621
00:28:43,800 --> 00:28:45,560
Speaker 9: not the way that things are going to go over

622
00:28:45,640 --> 00:28:47,920
Speaker 9: the course of the next four years. They've showed us

623
00:28:47,920 --> 00:28:50,280
Speaker 9: their hand, they showed us who they are, and it's

624
00:28:50,280 --> 00:28:52,800
Speaker 9: time for us to believe them because they're showing us

625
00:28:52,800 --> 00:28:53,240
Speaker 9: the way.

626
00:28:55,560 --> 00:28:57,920
Speaker 7: Well, so let's turn to Tolsty Gabbard then, because we

627
00:28:58,000 --> 00:29:00,680
Speaker 7: haven't yet seen Republicans show up to vote for her,

628
00:29:00,760 --> 00:29:02,640
Speaker 7: they'll have the chance to do so within the hour

629
00:29:02,760 --> 00:29:05,400
Speaker 7: in the Intelligence Committee, where she couldn't afford to lose

630
00:29:05,440 --> 00:29:08,440
Speaker 7: a single Republican. Lisa, and it kind of seems right

631
00:29:08,480 --> 00:29:11,800
Speaker 7: now that she won't after Senator's Todd Young, Susan Collins,

632
00:29:11,840 --> 00:29:15,080
Speaker 7: James Lankford all indicated that they will be supporting her

633
00:29:15,120 --> 00:29:18,080
Speaker 7: nomination for Director of National Intelligence. Joe and I have

634
00:29:18,120 --> 00:29:21,640
Speaker 7: been hearing for weeks that Tulci Gabbard was the most

635
00:29:21,720 --> 00:29:25,160
Speaker 7: endangered of all of Trump's nominees, that potentially does a

636
00:29:25,200 --> 00:29:28,400
Speaker 7: dozen or more Republicans could ultimately vote against her. Does

637
00:29:28,440 --> 00:29:30,160
Speaker 7: this one surprise you, Lisa.

638
00:29:30,760 --> 00:29:33,120
Speaker 9: No, it doesn't, Kaylee. And you know why it doesn't

639
00:29:33,120 --> 00:29:36,040
Speaker 9: surprise me, because the Democrats were happy to see her go,

640
00:29:36,640 --> 00:29:38,960
Speaker 9: and so Republicans are happy to open their arms and

641
00:29:39,000 --> 00:29:41,800
Speaker 9: bring her into the fold. Yes, she is a risk, absolutely,

642
00:29:42,200 --> 00:29:45,200
Speaker 9: but I think the fact that the Democratic Party is

643
00:29:45,240 --> 00:29:47,360
Speaker 9: not standing behind her or saying that she was one

644
00:29:47,400 --> 00:29:50,280
Speaker 9: of theirs, it's all sort of part of this culture

645
00:29:50,360 --> 00:29:54,480
Speaker 9: of whatever was wrong is now right, and it's just

646
00:29:54,640 --> 00:29:57,720
Speaker 9: this sort of fundamental will accept it and will take

647
00:29:57,800 --> 00:30:01,200
Speaker 9: it. It's worrisome though, to people who know the way that

648
00:30:01,200 --> 00:30:03,920
Speaker 9: the process has been conducted over the course of time,

649
00:30:03,960 --> 00:30:07,959
Speaker 9: We've had incredible leaders in these places, especially in the

650
00:30:08,000 --> 00:30:11,480
Speaker 9: intelligence space where Tulsea Gabbert is about to go. It's

651
00:30:11,640 --> 00:30:14,520
Speaker 9: frightening to a lot of people because they know that

652
00:30:14,560 --> 00:30:17,600
Speaker 9: she's not the right candidate for the job. But the

653
00:30:17,640 --> 00:30:22,200
Speaker 9: president was just elected with a strong majority from a

654
00:30:22,240 --> 00:30:24,440
Speaker 9: lot of states that said that they were in favor

655
00:30:24,480 --> 00:30:27,680
Speaker 9: of change, and that's precisely what he is delivering to us.

656
00:30:29,520 --> 00:30:32,520
Speaker 2: Well, I don't know your thoughts on this, Genie. Lisa

657
00:30:32,680 --> 00:30:35,960
Speaker 2: saw them all being confirmed, and we still need to

658
00:30:36,000 --> 00:30:38,480
Speaker 2: have House floor I should say, floor votes in the

659
00:30:38,520 --> 00:30:41,320
Speaker 2: Senate on these nominees before it's official. But it does

660
00:30:41,360 --> 00:30:44,880
Speaker 2: appear like the votes are counted. Should we have assumed

661
00:30:44,920 --> 00:30:48,200
Speaker 2: that was the case because of the pressure campaign that

662
00:30:48,360 --> 00:30:51,560
Speaker 2: was coming this, as we keep hearing, is Donald Trump's Congress.

663
00:30:52,880 --> 00:30:54,880
Speaker 10: Yeah, we should have assumed it was the case, because

664
00:30:54,880 --> 00:30:57,840
Speaker 10: that's what history tells us. History tells us you get

665
00:30:57,920 --> 00:31:01,560
Speaker 10: to the floor in terms of getting to committee, and

666
00:31:01,600 --> 00:31:04,720
Speaker 10: you get to your hearing, and you will likely be confirmed.

667
00:31:04,800 --> 00:31:07,320
Speaker 10: I mean, that is what everybody knows. That is what

668
00:31:07,480 --> 00:31:10,880
Speaker 10: history tells us. There's only a few people in the

669
00:31:10,920 --> 00:31:13,400
Speaker 10: modern era who have gotten to the stage of the

670
00:31:13,440 --> 00:31:17,360
Speaker 10: hearings and not gotten confirmed. So that's what we know

671
00:31:17,520 --> 00:31:20,720
Speaker 10: is the reality. And of course the pressure, the pressure

672
00:31:20,760 --> 00:31:23,800
Speaker 10: campaign rather as you mentioned, Joe, that makes it all

673
00:31:23,840 --> 00:31:28,000
Speaker 10: that much more of a likelihood. But again, this would

674
00:31:28,080 --> 00:31:31,800
Speaker 10: never surprise anybody who's watched these hearings. I think the

675
00:31:31,880 --> 00:31:35,280
Speaker 10: surprising thing about watching these hearings is the fact that

676
00:31:35,320 --> 00:31:38,360
Speaker 10: you're seeing on both sides of the aisle which some

677
00:31:38,560 --> 00:31:42,640
Speaker 10: of these people have been nominated, there is concern about

678
00:31:42,680 --> 00:31:46,640
Speaker 10: their competence. There is concern about their ability to do

679
00:31:46,760 --> 00:31:51,600
Speaker 10: the job, and that is what is concerning so RFK Junior.

680
00:31:52,080 --> 00:31:55,960
Speaker 10: He was unable to answer basic questions about the difference

681
00:31:56,000 --> 00:32:00,440
Speaker 10: between Medicare and Medicaid, two entitlement programs that are funded

682
00:32:00,480 --> 00:32:02,840
Speaker 10: out of an agency. He will run, which is the

683
00:32:02,920 --> 00:32:07,200
Speaker 10: largest agency monetarily, even a bigger budget than Defense, and

684
00:32:07,280 --> 00:32:09,840
Speaker 10: yet he couldn't answer basic questions. And again these were

685
00:32:09,880 --> 00:32:12,280
Speaker 10: coming from both sides of the aisle. So I don't

686
00:32:12,320 --> 00:32:14,520
Speaker 10: think it's a big stretch to say they're going to

687
00:32:14,560 --> 00:32:17,560
Speaker 10: get confirmed. It is a big shock to listen to

688
00:32:17,680 --> 00:32:21,120
Speaker 10: people who don't seem to have the knowledge and the

689
00:32:21,240 --> 00:32:24,800
Speaker 10: competence to do these positions. That is concerning to many

690
00:32:24,800 --> 00:32:26,880
Speaker 10: of us, and again on both sides of the isle.

691
00:32:27,160 --> 00:32:29,360
Speaker 10: But it's not going to move people like Cassidy or

692
00:32:29,480 --> 00:32:32,880
Speaker 10: Collins because they are up in twenty six and they

693
00:32:32,960 --> 00:32:35,760
Speaker 10: know the score, which is a primary challenge awaits and

694
00:32:35,800 --> 00:32:37,040
Speaker 10: they are responding to that.

695
00:32:38,600 --> 00:32:38,800
Speaker 6: Well.

696
00:32:38,840 --> 00:32:40,720
Speaker 7: So, Genie, to your point, it's one thing to get

697
00:32:40,720 --> 00:32:43,320
Speaker 7: the job, it's another to keep it. We obviously saw

698
00:32:43,400 --> 00:32:46,120
Speaker 7: a great deal of turnover, including at the cabinet level,

699
00:32:46,560 --> 00:32:49,440
Speaker 7: in the first Trump administration. How hard is it going

700
00:32:49,480 --> 00:32:52,400
Speaker 7: to be for RFK, Junior, Tolci, Gabbard, or frankly, anyone

701
00:32:52,720 --> 00:32:55,800
Speaker 7: who gets confirmed to stay in line with the president.

702
00:32:55,800 --> 00:32:58,080
Speaker 7: To what extent do they actually have freedom to pursue

703
00:32:58,160 --> 00:32:59,640
Speaker 7: their own agendas?

704
00:33:00,840 --> 00:33:02,840
Speaker 10: Yeah, I don't think they have much freedom. I think

705
00:33:02,840 --> 00:33:05,080
Speaker 10: We're already seeing that. I mean, we saw when the

706
00:33:05,080 --> 00:33:08,400
Speaker 10: President came out and talked about the horrific crash and

707
00:33:08,440 --> 00:33:11,800
Speaker 10: the Potomac, about the nominees who came forward who had

708
00:33:11,840 --> 00:33:15,000
Speaker 10: to talk about Dei first and praise him before they

709
00:33:15,040 --> 00:33:17,480
Speaker 10: talked about the body still being pulled out of the river.

710
00:33:17,600 --> 00:33:20,880
Speaker 10: I think that continues, and even more so than that,

711
00:33:21,480 --> 00:33:24,760
Speaker 10: would anybody with sense want to serve in this administration

712
00:33:25,000 --> 00:33:29,600
Speaker 10: knowing that Mark Millie Bolton and others who went against

713
00:33:29,640 --> 00:33:32,640
Speaker 10: the president then had their security pulled even though they

714
00:33:32,640 --> 00:33:35,640
Speaker 10: are facing death threats at the moment from Iran. So

715
00:33:35,800 --> 00:33:39,320
Speaker 10: this is very very tricky business for these nominees, and

716
00:33:39,600 --> 00:33:42,320
Speaker 10: I think we will see turnover. That's not unusual, but

717
00:33:42,400 --> 00:33:46,360
Speaker 10: these people face turnover and little protection from the president

718
00:33:46,440 --> 00:33:50,040
Speaker 10: or the federal government once that happens. That's a scary proposition,

719
00:33:51,920 --> 00:33:52,239
Speaker 10: all right.

720
00:33:52,320 --> 00:33:56,360
Speaker 7: Jeanie Shanzeno and Lisa Camuso Miller our political panel on

721
00:33:56,400 --> 00:33:58,520
Speaker 7: this Tuesday, Thank you both so much for joining us

722
00:33:58,520 --> 00:34:00,959
Speaker 7: here on balance of Power. And we still have more

723
00:34:01,000 --> 00:34:03,520
Speaker 7: ahead as we shift our focus from domestic politics to

724
00:34:04,240 --> 00:34:07,280
Speaker 7: geopolitics with the expected visit just hours from now of

725
00:34:07,160 --> 00:34:10,560
Speaker 7: the Israeli Prime Minister Benjamin Netanyaho at the White House.

726
00:34:10,600 --> 00:34:13,640
Speaker 7: He scheduled to get there around four pm Eastern time,

727
00:34:13,680 --> 00:34:15,520
Speaker 7: with a lot on the agenda, of course, the first

728
00:34:15,640 --> 00:34:18,440
Speaker 7: foreign leader to visit Trump at the White House so

729
00:34:18,560 --> 00:34:19,160
Speaker 7: far this term.

730
00:34:19,200 --> 00:34:22,280
Speaker 2: That's right. It's considered a pretty major honor in Benjamin

731
00:34:22,280 --> 00:34:24,840
Speaker 2: nettya who has reminded us of that. We'll be seeing

732
00:34:24,880 --> 00:34:26,880
Speaker 2: the two of them a few hours from now, just

733
00:34:26,920 --> 00:34:29,759
Speaker 2: after five pm. A bilateral news conference from the White

734
00:34:29,800 --> 00:34:31,560
Speaker 2: House has been scheduled. We'll bring it to you live

735
00:34:31,600 --> 00:34:34,600
Speaker 2: here on Bloomberg TV and Radio. One of many things

736
00:34:34,600 --> 00:34:37,480
Speaker 2: happening inside the Beltwagh today. You mentioned as well the

737
00:34:37,520 --> 00:34:40,280
Speaker 2: looming vote for Tulsea Gabbarding Committee that will also happen

738
00:34:40,320 --> 00:34:42,440
Speaker 2: before we get back together on the late edition of

739
00:34:42,520 --> 00:34:45,399
Speaker 2: Balance of Power, A Garshamali is coming in next as

740
00:34:45,440 --> 00:34:47,759
Speaker 2: we try to figure the progress that could be made

741
00:34:47,760 --> 00:34:48,439
Speaker 2: at the White House.

742
00:34:48,440 --> 00:34:54,080
Speaker 1: Today, you're listening to the Bloomberg Balance of Power podcasts.

743
00:34:54,200 --> 00:34:57,360
Speaker 1: Catch us live weekdays at noon and five pm Eastern

744
00:34:57,480 --> 00:35:00,279
Speaker 1: on Apple, Cockle and Android Auto with the Blue Birk

745
00:35:00,320 --> 00:35:03,480
Speaker 1: Business app. You can also listen live on Amazon Alexa

746
00:35:03,640 --> 00:35:07,320
Speaker 1: from our flagship New York station. Just say Alexa played

747
00:35:07,320 --> 00:35:09,239
Speaker 1: Bloomberg eleven thirty.

748
00:35:10,000 --> 00:35:12,239
Speaker 2: We are live from Washington, where we're standing by for

749
00:35:12,280 --> 00:35:14,480
Speaker 2: an important news conference, a schedule to start a few

750
00:35:14,520 --> 00:35:16,480
Speaker 2: hours from now. Whether it's on time, we'll find out

751
00:35:16,520 --> 00:35:19,799
Speaker 2: together as President Trump and Prime Minister Benjamin Netanyah, who

752
00:35:19,840 --> 00:35:22,160
Speaker 2: prepared to hold a bilateral news conference on what is

753
00:35:22,160 --> 00:35:25,959
Speaker 2: the first visit of a foreign leader to this new administration.

754
00:35:26,320 --> 00:35:28,880
Speaker 2: Netan Yahoo with much on the line here, of course,

755
00:35:28,920 --> 00:35:32,400
Speaker 2: in phase one of a cease fire with Hamas in Gaza,

756
00:35:32,400 --> 00:35:34,640
Speaker 2: spoke to reporters on his way to the US.

757
00:35:34,719 --> 00:35:38,960
Speaker 5: Let's listen, I'm leaving for a very important meeting with

758
00:35:39,040 --> 00:35:43,440
Speaker 5: President Trump in Washington. The fact that this would be

759
00:35:43,560 --> 00:35:47,080
Speaker 5: President Trump's first meeting with a foreign leader since his

760
00:35:47,160 --> 00:35:50,799
Speaker 5: inauguration is telling. I think it's a testimony to the

761
00:35:50,840 --> 00:35:54,480
Speaker 5: strength of the Israeli American alliance. It's also a testimonial

762
00:35:54,800 --> 00:35:58,520
Speaker 5: to the strength of our personal friendship. That friendship and

763
00:35:58,600 --> 00:36:01,800
Speaker 5: that cooperation is already the important results for Israel in

764
00:36:01,840 --> 00:36:02,400
Speaker 5: the Middle.

765
00:36:02,160 --> 00:36:07,040
Speaker 7: East, but ken this meeting this afternoon yield even further

766
00:36:07,480 --> 00:36:09,960
Speaker 7: results as we look toward the potential of a phase

767
00:36:10,000 --> 00:36:12,839
Speaker 7: two of the ceasefire agreement. Joining US now to get

768
00:36:12,840 --> 00:36:15,359
Speaker 7: into this here in our Washington, d C studio, I'm

769
00:36:15,360 --> 00:36:17,799
Speaker 7: pleased to say, Sagar Shamali, she was former director for

770
00:36:17,840 --> 00:36:20,760
Speaker 7: Syria and Lebanon at the National Security Council, now founder

771
00:36:20,800 --> 00:36:24,000
Speaker 7: and CEO of Greenwich Media Strategies, welcome back to Bloomberg

772
00:36:24,040 --> 00:36:26,320
Speaker 7: TV and Radio. Lovely to see you here in d C.

773
00:36:26,880 --> 00:36:29,279
Speaker 7: When we consider that Phase one does still seem to

774
00:36:29,320 --> 00:36:32,399
Speaker 7: be intact as we speak, as Neatnyahoo visits Washington, knowing

775
00:36:32,440 --> 00:36:35,680
Speaker 7: that the clock is ticking for this to expire, do

776
00:36:35,719 --> 00:36:37,560
Speaker 7: you see us getting into Phase two at the end

777
00:36:37,600 --> 00:36:38,840
Speaker 7: of this forty two day period.

778
00:36:39,640 --> 00:36:41,719
Speaker 11: Well, I'm not so sure about Phase two because there

779
00:36:41,760 --> 00:36:43,640
Speaker 11: are a few reasons why it's going to be difficult,

780
00:36:43,640 --> 00:36:46,200
Speaker 11: and part of it is that the requirements of Phase

781
00:36:46,239 --> 00:36:49,799
Speaker 11: two are that Hamas must release all remaining hostages in

782
00:36:49,840 --> 00:36:53,560
Speaker 11: exchange for the IDF completely withdrawing from Gaza, and a

783
00:36:54,000 --> 00:36:56,480
Speaker 11: declaration of a permanent end to the war. And that

784
00:36:56,600 --> 00:36:58,840
Speaker 11: is a major step to make, especially when you've got

785
00:36:59,160 --> 00:37:01,759
Speaker 11: Nitayahu and his cabinet who very clearly said that they

786
00:37:01,760 --> 00:37:06,320
Speaker 11: want to resume more after Phase one. But the timing

787
00:37:06,360 --> 00:37:09,680
Speaker 11: here is interesting because this week is when the negotiations

788
00:37:09,760 --> 00:37:12,879
Speaker 11: for Phase two are supposed to begin, and those negotiations

789
00:37:12,920 --> 00:37:15,359
Speaker 11: are still valid and still important even if Phase two

790
00:37:15,440 --> 00:37:18,719
Speaker 11: is unlikely, because if it doesn't go into phase two,

791
00:37:19,160 --> 00:37:22,200
Speaker 11: that doesn't necessarily mean that there aren't potential other deals

792
00:37:22,480 --> 00:37:24,799
Speaker 11: that could happen. The Trump administration has made it very

793
00:37:24,840 --> 00:37:27,319
Speaker 11: clear that they want to reach an end of the war,

794
00:37:27,320 --> 00:37:30,600
Speaker 11: and they want to achieve it in this broader deal

795
00:37:30,640 --> 00:37:34,000
Speaker 11: that includes Saudi Arabia, the UAE. I've been in Washington,

796
00:37:34,040 --> 00:37:35,799
Speaker 11: DC now for a few days, and all I hear

797
00:37:35,840 --> 00:37:40,160
Speaker 11: about from the administration is a prioritization of the Abraham

798
00:37:40,160 --> 00:37:42,719
Speaker 11: Accords and how this could feature into it. So there

799
00:37:42,760 --> 00:37:46,000
Speaker 11: is still something there there to discuss, even if Phase

800
00:37:46,000 --> 00:37:48,280
Speaker 11: two of the original Seies Fire deal might not be reached.

801
00:37:48,440 --> 00:37:50,640
Speaker 2: King of Jordan said to visit the White House next week.

802
00:37:50,680 --> 00:37:52,040
Speaker 2: Does that help to connect the dots?

803
00:37:52,400 --> 00:37:52,960
Speaker 3: Absolutely?

804
00:37:53,000 --> 00:37:56,200
Speaker 11: Talking about there's no it's not a coincidence that Trump's first,

805
00:37:56,280 --> 00:37:59,400
Speaker 11: very first phone call was to MBS, his very first

806
00:37:59,480 --> 00:38:02,600
Speaker 11: official it is with Netta Yahu he is. And now

807
00:38:02,600 --> 00:38:04,920
Speaker 11: you've got Jordan being followed by this. You've got an

808
00:38:04,920 --> 00:38:09,480
Speaker 11: effort to reset these relationships, all of these relationships to

809
00:38:09,680 --> 00:38:13,080
Speaker 11: prioritize the Abraham Accords, in which they want to include

810
00:38:13,120 --> 00:38:16,560
Speaker 11: as many countries as possible, and also, by the way,

811
00:38:16,600 --> 00:38:18,560
Speaker 11: to remind all of those leaders in the Middle East

812
00:38:18,600 --> 00:38:21,160
Speaker 11: in particular and probably around the world to rely on

813
00:38:21,200 --> 00:38:23,279
Speaker 11: the United States as an ally and partner and not

814
00:38:23,360 --> 00:38:25,080
Speaker 11: to hedge with China most importantly.

815
00:38:25,440 --> 00:38:27,560
Speaker 7: Well, so when we consider other Arab countries here, it

816
00:38:27,560 --> 00:38:31,480
Speaker 7: does seem the administration also has asks potentially of these countries.

817
00:38:31,520 --> 00:38:34,239
Speaker 7: We just heard from Steve Whitcoff, Trump's envoy to the

818
00:38:34,239 --> 00:38:36,359
Speaker 7: Middle East, who was speaking to reporters at the White House,

819
00:38:36,360 --> 00:38:38,440
Speaker 7: saying that the US wants Arab nations to take in

820
00:38:38,560 --> 00:38:42,840
Speaker 7: Palestinians from Gaza. The President himself has exploded this as well.

821
00:38:43,600 --> 00:38:45,920
Speaker 7: Are any Arab nations going to agree to that? Jordan

822
00:38:46,000 --> 00:38:47,840
Speaker 7: included Egypt another example.

823
00:38:48,000 --> 00:38:50,160
Speaker 11: Okay, so this one is a very fascinating one to

824
00:38:50,160 --> 00:38:52,960
Speaker 11: me because I will tell you, throughout the war, since

825
00:38:53,000 --> 00:38:55,640
Speaker 11: October seven, I have always been a proponent of Egypt

826
00:38:55,680 --> 00:38:59,799
Speaker 11: and Jordan taking Gazen refugees as refugees. By the way,

827
00:39:00,080 --> 00:39:02,920
Speaker 11: and I find it, to quote Queen Rania, but to

828
00:39:02,960 --> 00:39:05,720
Speaker 11: turn it back on them morally reprehensible that they didn't

829
00:39:06,000 --> 00:39:08,120
Speaker 11: because what they ended up doing was trapping them in

830
00:39:08,160 --> 00:39:12,239
Speaker 11: a situation where they knew Israel's response a response to

831
00:39:12,400 --> 00:39:14,680
Speaker 11: the Hamas terrorist attack, they knew how it would go,

832
00:39:14,760 --> 00:39:17,120
Speaker 11: and they deliberately kept them in there. And there are

833
00:39:17,160 --> 00:39:19,560
Speaker 11: many reasons that we could go into separately. They're concerned

834
00:39:19,600 --> 00:39:23,879
Speaker 11: about whether those refugees will remain permanent. You've had many

835
00:39:23,920 --> 00:39:28,080
Speaker 11: problems in our in history with Palestinian refugees in Jordan, Kuwait,

836
00:39:28,120 --> 00:39:32,600
Speaker 11: and Lebanon, creating violence, pursuing civil wars. So I understand

837
00:39:32,640 --> 00:39:35,040
Speaker 11: that that goal. But these are two countries that take

838
00:39:35,160 --> 00:39:38,680
Speaker 11: usaid and a lot of usaid, and that's not a

839
00:39:38,719 --> 00:39:42,360
Speaker 11: point of leverage that the Biden administration was comfortable up

840
00:39:42,400 --> 00:39:44,840
Speaker 11: pulling over their heads and twisting their arms and saying,

841
00:39:44,920 --> 00:39:46,719
Speaker 11: you take all this aid. You need to take these

842
00:39:46,760 --> 00:39:50,799
Speaker 11: refugees not permanently. You need to house them as this

843
00:39:50,840 --> 00:39:53,920
Speaker 11: situation happens and unfolds. And that's from what I understand

844
00:39:54,000 --> 00:39:57,000
Speaker 11: over and over again from the administration. While I understand

845
00:39:57,040 --> 00:40:01,520
Speaker 11: the language could come off concerning their goal is to

846
00:40:01,560 --> 00:40:04,720
Speaker 11: have that be not permanent, to have them move because

847
00:40:04,760 --> 00:40:05,959
Speaker 11: Gaza's uninhabitable.

848
00:40:07,000 --> 00:40:09,640
Speaker 2: I want to hear about the relationship between these two.

849
00:40:09,719 --> 00:40:12,960
Speaker 2: A lot has been written between Donald Trump and Benjamin Netanyaho,

850
00:40:12,960 --> 00:40:15,520
Speaker 2: knowing they didn't talk for about four years. There was

851
00:40:15,560 --> 00:40:18,920
Speaker 2: incredible bad blood between the two of them for the

852
00:40:18,960 --> 00:40:22,840
Speaker 2: bulk of the Biden administration. You remember how bitter Donald

853
00:40:22,840 --> 00:40:25,560
Speaker 2: Trump was about the fact that net Yahoo called Joe

854
00:40:25,560 --> 00:40:28,840
Speaker 2: Biden to congratulate him for winning before the whole stop

855
00:40:28,880 --> 00:40:31,160
Speaker 2: the steel movement had come to an end. He actually

856
00:40:31,160 --> 00:40:35,399
Speaker 2: criticized net Yahoo after October seventh. They need each other, Now,

857
00:40:35,640 --> 00:40:37,040
Speaker 2: what is their relationship like?

858
00:40:37,280 --> 00:40:40,200
Speaker 11: That's right, It's a very interesting relationship because it's not

859
00:40:40,239 --> 00:40:43,799
Speaker 11: necessarily that they're best buds. But during the first Trump administration,

860
00:40:43,880 --> 00:40:48,759
Speaker 11: we know the extent to which Trump prioritizes the alliance

861
00:40:48,760 --> 00:40:51,000
Speaker 11: with Israel and is very pro Israel, and we've seen

862
00:40:51,040 --> 00:40:53,960
Speaker 11: that play out in many ways, recognizing the annexation of

863
00:40:54,040 --> 00:40:58,040
Speaker 11: the Goal on Heights, moving the embassy to Jerusalem very

864
00:40:58,120 --> 00:41:00,440
Speaker 11: quickly now since he's come to office about it during

865
00:41:00,440 --> 00:41:01,880
Speaker 11: the campaign anyway, but one of the first steps he

866
00:41:01,920 --> 00:41:05,880
Speaker 11: took was to halt this or unhalt I guess the

867
00:41:06,920 --> 00:41:10,440
Speaker 11: halt in two thousand pound bombs to Israel that Biden

868
00:41:10,520 --> 00:41:14,000
Speaker 11: had had halted. So we can see where his goals

869
00:41:14,040 --> 00:41:15,959
Speaker 11: are and his priorities are. And that's but that said,

870
00:41:16,080 --> 00:41:18,600
Speaker 11: their relationship is a little tenuous. But at the same time,

871
00:41:19,080 --> 00:41:21,239
Speaker 11: Netta Yahoo doesn't want to say no to Trump, and

872
00:41:21,280 --> 00:41:23,560
Speaker 11: I don't expect him to. And this is why this

873
00:41:23,600 --> 00:41:25,759
Speaker 11: trip is going to be so fascinating, because you're coming

874
00:41:25,760 --> 00:41:27,680
Speaker 11: at a point right now where they're going to be

875
00:41:27,719 --> 00:41:30,239
Speaker 11: talking about the Phase two or what comes after the

876
00:41:30,280 --> 00:41:33,720
Speaker 11: next the first of Phase one at least. And Trump

877
00:41:33,760 --> 00:41:35,799
Speaker 11: has this goal and Antenyah, who has a different goal,

878
00:41:36,200 --> 00:41:38,040
Speaker 11: and and Trump is a deal maker, and he's going

879
00:41:38,040 --> 00:41:40,360
Speaker 11: to try and find a way to say I want

880
00:41:40,400 --> 00:41:42,320
Speaker 11: an end to this war, and I want to achieve

881
00:41:42,400 --> 00:41:45,080
Speaker 11: US national security objectives in this region, and you're going

882
00:41:45,160 --> 00:41:47,040
Speaker 11: to have to work with me on it. Whether that

883
00:41:47,120 --> 00:41:49,600
Speaker 11: might result in a new election in Israel because of

884
00:41:49,640 --> 00:41:51,720
Speaker 11: these moves is Netanyahu's problem.

885
00:41:51,920 --> 00:41:54,239
Speaker 7: Well, so it's you're saying Trump with the leverage here,

886
00:41:54,280 --> 00:41:55,080
Speaker 7: not Menyah.

887
00:41:55,120 --> 00:41:56,680
Speaker 11: Trump is the one who has the leverage, and I

888
00:41:56,719 --> 00:41:59,880
Speaker 11: really I would expect to see this not just with Israel,

889
00:42:00,080 --> 00:42:04,160
Speaker 11: but with pursuing peace with a number of countries, particularly

890
00:42:04,239 --> 00:42:06,360
Speaker 11: one of the ones I'm very hopeful for. And I

891
00:42:06,360 --> 00:42:09,040
Speaker 11: hope they prioritize is peace with Lebanon. Now is the

892
00:42:09,080 --> 00:42:12,200
Speaker 11: only time to pursue that kind of deal given the

893
00:42:12,239 --> 00:42:15,439
Speaker 11: situation there domestically, and would really serve you a sacial

894
00:42:15,520 --> 00:42:18,239
Speaker 11: security interest because that's Israel's neighbor. So they're going to

895
00:42:18,239 --> 00:42:20,080
Speaker 11: be looking at this from a real holistic approach.

896
00:42:20,280 --> 00:42:22,360
Speaker 2: All this against the backdrop of this report today in

897
00:42:22,400 --> 00:42:26,600
Speaker 2: The New York Times that a secret team of scientists

898
00:42:26,760 --> 00:42:30,360
Speaker 2: in Iran is exploring a faster, if cruder approach to

899
00:42:30,440 --> 00:42:35,480
Speaker 2: developing an atomic weapon. What sense of urgency does this

900
00:42:35,520 --> 00:42:38,000
Speaker 2: put underneath these talks? And are we going to start

901
00:42:38,000 --> 00:42:40,839
Speaker 2: hearing more about and we've already heard it on this program,

902
00:42:41,160 --> 00:42:43,280
Speaker 2: a potential preemptive strike against Iran?

903
00:42:43,719 --> 00:42:46,759
Speaker 11: Well, so this issue Iran will definitely feature prominently in

904
00:42:46,840 --> 00:42:51,040
Speaker 11: these talks. The administration is not They've not come out

905
00:42:51,360 --> 00:42:55,040
Speaker 11: completely yet because they're still figuring it out on exactly

906
00:42:55,360 --> 00:43:00,360
Speaker 11: the policy they would pursue regarding military engagement or or

907
00:43:00,400 --> 00:43:03,480
Speaker 11: bombing Iran's nuclear program, And so they haven't come out

908
00:43:03,560 --> 00:43:07,240
Speaker 11: yet with where they stand on that. I wouldn't believe

909
00:43:07,239 --> 00:43:09,600
Speaker 11: that the administration would hold back if they thought that

910
00:43:09,600 --> 00:43:11,520
Speaker 11: that was the right move. But also by the way,

911
00:43:11,560 --> 00:43:16,719
Speaker 11: that unpredictability that those not being black and white about

912
00:43:16,760 --> 00:43:19,640
Speaker 11: it serves the interests of the Trump administration because they

913
00:43:19,719 --> 00:43:23,080
Speaker 11: want Iran to feel afraid of how the administration might

914
00:43:23,800 --> 00:43:27,040
Speaker 11: might react, might advise Israel, and so they play that

915
00:43:27,080 --> 00:43:30,120
Speaker 11: to their favor as well. But I absolutely believe that

916
00:43:30,160 --> 00:43:33,200
Speaker 11: this is going to be future prominently. They are already

917
00:43:33,239 --> 00:43:35,359
Speaker 11: prioritizing it, but they haven't come out very clearly yet

918
00:43:35,480 --> 00:43:38,200
Speaker 11: with the exact policy toward Iran other than that they

919
00:43:38,239 --> 00:43:40,120
Speaker 11: intend to renew the maximum pressure.

920
00:43:40,160 --> 00:43:42,360
Speaker 2: Get another warning from Trump in this news or today

921
00:43:42,440 --> 00:43:45,239
Speaker 2: when all hell will breaks. Like you said about the

922
00:43:45,239 --> 00:43:47,520
Speaker 2: ceasefire and the hostages, this is the next warning.

923
00:43:47,600 --> 00:43:48,200
Speaker 6: That's yes.

924
00:43:48,320 --> 00:43:51,080
Speaker 11: And we have to remember right now is Trump walked

925
00:43:51,080 --> 00:43:54,680
Speaker 11: into a very unique time with geopolitical dynamics in the region,

926
00:43:54,960 --> 00:43:57,600
Speaker 11: with this axis of resistance on its heels, Iran on

927
00:43:57,640 --> 00:44:02,000
Speaker 11: the defense, Hasbola decapitated, Hamas decimated, and US it has fallen.

928
00:44:02,360 --> 00:44:04,480
Speaker 11: And that's something that the Trump administration is going to

929
00:44:04,560 --> 00:44:07,600
Speaker 11: take to its advantage. And I don't expect Iran to

930
00:44:07,600 --> 00:44:09,319
Speaker 11: be able to go very far with that.

931
00:44:09,600 --> 00:44:12,520
Speaker 7: Because you allude to Bosher Ala Sad, I do want

932
00:44:12,520 --> 00:44:14,680
Speaker 7: to ask you about Tulca Gabbard, who of course faced

933
00:44:14,680 --> 00:44:17,680
Speaker 7: a lot of questions in her confirmation hearing last week

934
00:44:17,719 --> 00:44:20,960
Speaker 7: about her visit to see him in twenty seventeen, in

935
00:44:20,960 --> 00:44:23,640
Speaker 7: addition to a number of other difficult questions she was asked.

936
00:44:23,640 --> 00:44:25,799
Speaker 7: And for all of that, it does seem that just

937
00:44:26,040 --> 00:44:28,520
Speaker 7: moments from now, really in the two pm hour, she

938
00:44:28,640 --> 00:44:30,920
Speaker 7: will be passed through the Intel Committee heading to her

939
00:44:30,920 --> 00:44:34,319
Speaker 7: full confirmation vote on the Senate floor. What is your

940
00:44:34,320 --> 00:44:34,759
Speaker 7: thought on that?

941
00:44:34,920 --> 00:44:36,680
Speaker 11: It looks like that, And I want to be clear,

942
00:44:37,560 --> 00:44:40,200
Speaker 11: because I'm very concerned about her in this position. I

943
00:44:40,239 --> 00:44:43,120
Speaker 11: don't feel like that about every cabinet minister at all,

944
00:44:43,320 --> 00:44:48,560
Speaker 11: cabinet ministers, excuse me, every cabinet secretary or principle in

945
00:44:49,200 --> 00:44:52,759
Speaker 11: Trump's cabinet at all. I am particularly concerned about her

946
00:44:52,800 --> 00:44:55,160
Speaker 11: because I believe that over the year she has reflected

947
00:44:55,239 --> 00:44:58,279
Speaker 11: very poor judgment and instinct, and particularly when it comes

948
00:44:58,320 --> 00:45:01,080
Speaker 11: to foreign policy, when it comes to believe the analyzes

949
00:45:01,400 --> 00:45:03,640
Speaker 11: and assessments of our intelligence community.

950
00:45:04,000 --> 00:45:05,200
Speaker 3: So I don't.

951
00:45:05,120 --> 00:45:07,680
Speaker 11: I'm concerned about it, But I also don't feel as

952
00:45:07,719 --> 00:45:10,239
Speaker 11: though I feel as though that train is moving, and

953
00:45:10,960 --> 00:45:14,040
Speaker 11: it doesn't seem as though anybody it seems that though

954
00:45:14,040 --> 00:45:15,920
Speaker 11: there are concerns, but yet she's still going to be

955
00:45:15,960 --> 00:45:18,520
Speaker 11: confirmed in this position. And the concern with that is

956
00:45:18,520 --> 00:45:21,160
Speaker 11: that this is the person who briefs the president daily

957
00:45:21,480 --> 00:45:24,279
Speaker 11: at the Presidential Daily Briefing, and if she's receiving an

958
00:45:24,280 --> 00:45:26,960
Speaker 11: assessment from the intelligence community on anything, it could be

959
00:45:26,960 --> 00:45:29,920
Speaker 11: Iran or Russia or China or anything, and she reads

960
00:45:29,920 --> 00:45:32,640
Speaker 11: it a different way and she tells President Trump, well,

961
00:45:32,680 --> 00:45:34,200
Speaker 11: I don't think that this is a threat, or I

962
00:45:34,239 --> 00:45:36,719
Speaker 11: think that that that you know, Putin's actually not so bad,

963
00:45:36,920 --> 00:45:39,520
Speaker 11: or us it is actually is is it? Well, us,

964
00:45:39,520 --> 00:45:41,719
Speaker 11: it's gone now. But well, whomever it could be, it

965
00:45:41,760 --> 00:45:45,400
Speaker 11: could be anybody, given that that judgment she has reflected

966
00:45:45,440 --> 00:45:48,800
Speaker 11: in the past, she just to me hasn't proven herself

967
00:45:48,840 --> 00:45:49,560
Speaker 11: for this kind of role.

968
00:45:49,640 --> 00:45:52,000
Speaker 2: Well, we should remind our listeners and viewers that Syria

969
00:45:52,200 --> 00:45:54,359
Speaker 2: was a prominent part of your portfolio when you were

970
00:45:54,400 --> 00:45:56,000
Speaker 2: working in.

971
00:45:55,920 --> 00:45:56,640
Speaker 6: The White House.

972
00:45:57,520 --> 00:46:00,760
Speaker 2: That must inform your opinion on her in a se fashion.

973
00:46:00,800 --> 00:46:03,759
Speaker 2: Though her her dalliances with al Asade mean.

974
00:46:03,719 --> 00:46:07,840
Speaker 11: What, yes, it's it's and that is absolutely entirely what

975
00:46:07,880 --> 00:46:09,799
Speaker 11: I meant I talked about I handled Syria for two

976
00:46:09,840 --> 00:46:12,600
Speaker 11: years during the Syria crisis, and it was not hard

977
00:46:12,920 --> 00:46:15,479
Speaker 11: for someone even just on the outside to know what

978
00:46:15,520 --> 00:46:17,960
Speaker 11: was happening and to know what USAID was doing. But

979
00:46:18,120 --> 00:46:21,080
Speaker 11: she went after the assessment of his use of chemical weapons.

980
00:46:21,440 --> 00:46:24,839
Speaker 11: She had access to that information, being in Congress, she

981
00:46:25,040 --> 00:46:28,040
Speaker 11: was briefed on it, and still chose to go and

982
00:46:28,200 --> 00:46:30,759
Speaker 11: still chose to say that he wasn't in enemy of

983
00:46:30,760 --> 00:46:34,280
Speaker 11: the United States. She questioned whether he used chemical weapons

984
00:46:35,040 --> 00:46:36,600
Speaker 11: against his people. And I will tell you, by the way,

985
00:46:36,600 --> 00:46:39,120
Speaker 11: the bar for the US government to make that assessment

986
00:46:39,520 --> 00:46:42,879
Speaker 11: was very high, and it was not something they did lightly.

987
00:46:42,920 --> 00:46:45,319
Speaker 11: It took a long time, and she still questioned it.

988
00:46:45,400 --> 00:46:48,040
Speaker 11: And that again, I just don't see why she will.

989
00:46:48,440 --> 00:46:50,799
Speaker 11: I believe that that lack of judgment and instinct will

990
00:46:50,840 --> 00:46:54,600
Speaker 11: apply to anything she works on any portfolio over the world.

991
00:46:55,000 --> 00:46:56,600
Speaker 7: Well, I guess we'll see how this goes in the

992
00:46:56,600 --> 00:47:00,239
Speaker 7: Intelligence Committee later on today and ultimately the four full

993
00:47:00,239 --> 00:47:01,880
Speaker 7: Senate floor. Before we let you go, oh Gar, we

994
00:47:01,920 --> 00:47:03,319
Speaker 7: just have a few minutes left here. But I also

995
00:47:03,360 --> 00:47:06,120
Speaker 7: do wonder what your reflection is on what's happening with USAID.

996
00:47:06,320 --> 00:47:08,759
Speaker 7: The push by Elon Musk, and he says he has

997
00:47:08,800 --> 00:47:12,360
Speaker 7: Donald Trump's buy in to dismantle this entirety, entirely the

998
00:47:12,400 --> 00:47:16,200
Speaker 7: State Department getting control. How much foreign aid is realistically

999
00:47:16,640 --> 00:47:20,080
Speaker 7: going to be left after this review, do you anticipate, Well, so, from.

1000
00:47:19,960 --> 00:47:24,440
Speaker 11: What I understand, emergency aid so meaning food, medicine, medical

1001
00:47:24,480 --> 00:47:28,160
Speaker 11: equipment that is going through and that's going to continue,

1002
00:47:28,280 --> 00:47:31,000
Speaker 11: and that's pretty standard for the US government anyway.

1003
00:47:31,000 --> 00:47:32,040
Speaker 3: It's the same with sanctions.

1004
00:47:32,080 --> 00:47:36,200
Speaker 11: Sanctions don't shouldn't then don't impact humanitarian aid for food

1005
00:47:36,200 --> 00:47:39,520
Speaker 11: and medicine and medical equipment. It's the aid that they're

1006
00:47:39,520 --> 00:47:42,680
Speaker 11: looking at for civil society, for democracy, and they're reviewing

1007
00:47:42,719 --> 00:47:44,879
Speaker 11: all of it, so some of it will come back,

1008
00:47:45,360 --> 00:47:48,800
Speaker 11: but I would be I don't want to sound naive

1009
00:47:48,960 --> 00:47:50,879
Speaker 11: in saying that all of it is going to come back.

1010
00:47:51,600 --> 00:47:54,880
Speaker 11: Of course, there's always fat to trim when it comes

1011
00:47:54,920 --> 00:47:58,920
Speaker 11: to US foreign aid reviews are a good thing. But

1012
00:47:59,239 --> 00:48:01,399
Speaker 11: it's been case for sure, and I've spoken to many

1013
00:48:01,400 --> 00:48:04,000
Speaker 11: friends in the government who are who are obviously they're concerned,

1014
00:48:04,000 --> 00:48:05,480
Speaker 11: and a lot of it has to do with the unknown,

1015
00:48:05,800 --> 00:48:07,400
Speaker 11: and that is going to have a direct impact.

1016
00:48:07,400 --> 00:48:07,680
Speaker 4: For sure.

1017
00:48:07,719 --> 00:48:10,640
Speaker 11: You're going to see non NGOs and nonprofits all over

1018
00:48:10,640 --> 00:48:13,440
Speaker 11: the world lose funding that they had been that they

1019
00:48:13,440 --> 00:48:16,640
Speaker 11: had come to rely on funding that does feed into

1020
00:48:16,840 --> 00:48:19,839
Speaker 11: US national security interests. But that doesn't mean that Trump

1021
00:48:19,840 --> 00:48:22,400
Speaker 11: administration doesn't want the same interests. It's that many of

1022
00:48:22,440 --> 00:48:24,560
Speaker 11: them are going about it through a different approach, with

1023
00:48:24,719 --> 00:48:27,920
Speaker 11: more a tougher approach, often using sticks and commercial and

1024
00:48:27,960 --> 00:48:29,120
Speaker 11: financial tools as leverage.

1025
00:48:29,120 --> 00:48:33,240
Speaker 2: Elon Musk calls USAID a criminal organization. We'll be following

1026
00:48:33,280 --> 00:48:36,480
Speaker 2: this story very closely. What a pleasure as always to

1027
00:48:36,480 --> 00:48:38,680
Speaker 2: have Hagar Shamali with us in studio. Hagarth, thank you

1028
00:48:38,760 --> 00:48:41,760
Speaker 2: so much. Enjoy your time back in Washington for a moment.

1029
00:48:45,920 --> 00:48:49,120
Speaker 2: Thanks for listening to the Balance of Power podcast. Make

1030
00:48:49,160 --> 00:48:52,120
Speaker 2: sure to subscribe if you haven't already an Apple, Spotify,

1031
00:48:52,200 --> 00:48:54,799
Speaker 2: or wherever you get your podcasts, and you can find

1032
00:48:54,840 --> 00:48:57,640
Speaker 2: us live every weekday from Washington, DC at noon time

1033
00:48:57,719 --> 00:48:59,760
Speaker 2: Eastern at Bloomberg dot com.