1 00:00:01,680 --> 00:00:06,200 Speaker 1: Now from our nation's capital. This is Bloomberg Sound On 2 00:00:07,120 --> 00:00:09,880 Speaker 1: from the greatest threat to our constitution are right here 3 00:00:09,960 --> 00:00:12,640 Speaker 1: in America. That have to be a red line. We 4 00:00:12,760 --> 00:00:15,760 Speaker 1: can't have tens of billions of dollars every election cycle 5 00:00:15,800 --> 00:00:19,720 Speaker 1: floating around and not nowhere. Came from Bloomberg sound On Politics, 6 00:00:19,800 --> 00:00:23,599 Speaker 1: Policy and Perspective from DC's top name. His story is 7 00:00:23,600 --> 00:00:26,480 Speaker 1: his oldest time right. It's about corporate malfeesents if the surprise, 8 00:00:26,520 --> 00:00:28,240 Speaker 1: I'm time only the major party because we know that 9 00:00:28,240 --> 00:00:31,080 Speaker 1: typically independent candidates have a hard time winning. My job 10 00:00:31,160 --> 00:00:34,440 Speaker 1: is to convince my colleagues that Krypto is a garden 11 00:00:34,479 --> 00:00:39,200 Speaker 1: of snakes. Bloomberg Sound On with Joe Matthew on Bloomberg 12 00:00:39,280 --> 00:00:44,440 Speaker 1: Radio two. You were a doozy ending with the stock 13 00:00:44,479 --> 00:00:47,720 Speaker 1: markets worst day since two thous the financial crisis. We 14 00:00:47,760 --> 00:00:50,080 Speaker 1: are going to look back on the year that was 15 00:00:50,159 --> 00:00:52,680 Speaker 1: the ups and the downs. Welcome to the fastest hour 16 00:00:52,720 --> 00:00:55,480 Speaker 1: in politics. I'm Madison mills in today for Joe Matthew. 17 00:00:55,520 --> 00:00:57,240 Speaker 1: We got a big show ahead for you. Today We're 18 00:00:57,240 --> 00:00:58,959 Speaker 1: going to bring you a primer on what you can 19 00:00:59,000 --> 00:01:03,360 Speaker 1: expect as we head towards that presidential election. We're gonna 20 00:01:03,400 --> 00:01:07,200 Speaker 1: unpack the ramifications of former President Trump's newly released tax returns. 21 00:01:07,440 --> 00:01:10,280 Speaker 1: And we've got a great conversation with Representative Don Bayer, 22 00:01:10,360 --> 00:01:12,880 Speaker 1: he's the chair of the Joint Economic Committee, on the 23 00:01:12,959 --> 00:01:16,280 Speaker 1: unrelenting inflation we've got going on and what Congress is 24 00:01:16,319 --> 00:01:18,759 Speaker 1: going to do to avoid the big our word as 25 00:01:18,760 --> 00:01:20,880 Speaker 1: we head into the new year. So how does all 26 00:01:20,920 --> 00:01:25,039 Speaker 1: of this play into congressional priorities. Let's talk with one 27 00:01:25,040 --> 00:01:27,360 Speaker 1: of my favorite people to talk to you at Bloomberg. 28 00:01:27,440 --> 00:01:30,200 Speaker 1: She always makes me smarter. We've got Wendy Benjaminson, our 29 00:01:30,240 --> 00:01:33,399 Speaker 1: deputy managing editor out of Washington. When he thanks so 30 00:01:33,520 --> 00:01:35,320 Speaker 1: much for being here late on the eve of New 31 00:01:35,400 --> 00:01:38,200 Speaker 1: Year's Eve to talk with us. I'm really excited to chat. 32 00:01:38,280 --> 00:01:40,520 Speaker 1: I want to start by looking back for a second. 33 00:01:40,800 --> 00:01:42,720 Speaker 1: Ahead of the midterms, you and I talked a lot. 34 00:01:42,760 --> 00:01:44,960 Speaker 1: We thought maybe abortion was going to move the needle 35 00:01:45,000 --> 00:01:47,680 Speaker 1: for voters, then we thought of his inflation. Then we 36 00:01:47,720 --> 00:01:52,400 Speaker 1: didn't see the red wave. What happened there? Well, I 37 00:01:52,440 --> 00:01:55,160 Speaker 1: think abortion did move the needle a little bit, as 38 00:01:55,160 --> 00:01:59,280 Speaker 1: we so smartly predicted um and but I also think 39 00:01:59,400 --> 00:02:03,880 Speaker 1: it's this was the Republicans election to lose, and they 40 00:02:03,960 --> 00:02:09,919 Speaker 1: nominated of the Republican primary, voters nominated a large number 41 00:02:09,960 --> 00:02:15,000 Speaker 1: of Trump supporters who you know, either had fringe ideas 42 00:02:15,520 --> 00:02:18,280 Speaker 1: or you know, tried to be Trump but couldn't quite 43 00:02:18,280 --> 00:02:21,160 Speaker 1: be Trump, or had other baggage that they were carrying 44 00:02:21,160 --> 00:02:26,240 Speaker 1: around over election deniers, and the voters have said they'd 45 00:02:26,240 --> 00:02:29,440 Speaker 1: had enough of the fringe candidates, and in a place 46 00:02:29,520 --> 00:02:32,960 Speaker 1: where a moderate Republican has been defeated in the primary, 47 00:02:33,320 --> 00:02:37,680 Speaker 1: Democrat one. Okay, So I asked Representative Buyer this, and 48 00:02:37,720 --> 00:02:41,480 Speaker 1: we're gonna hear that conversation later on. But is this 49 00:02:41,560 --> 00:02:44,560 Speaker 1: a sign that we are moving away from sort of 50 00:02:44,600 --> 00:02:47,680 Speaker 1: the trumpification of the GOPN towards a little bit more 51 00:02:48,240 --> 00:02:53,520 Speaker 1: consensus in Congress? Well, I don't know about that. Um. 52 00:02:55,080 --> 00:02:58,680 Speaker 1: I've been saying Trump has finished since So that shows 53 00:02:58,680 --> 00:03:03,560 Speaker 1: you what a good dragnasticate I am. I am. I 54 00:03:03,919 --> 00:03:06,720 Speaker 1: do not think there's going to be consensus in Congress 55 00:03:06,760 --> 00:03:08,840 Speaker 1: in the next couple of years. I think the Republicans 56 00:03:08,840 --> 00:03:11,520 Speaker 1: have won a very narrow house majority with the Democratic 57 00:03:11,600 --> 00:03:14,360 Speaker 1: Senate a Democratic white House, and I think we're gonna 58 00:03:14,400 --> 00:03:19,760 Speaker 1: see very little governing because of that partisan breakdown and 59 00:03:19,840 --> 00:03:23,160 Speaker 1: instead a lot of positioning a lot of chess bumping, 60 00:03:23,200 --> 00:03:27,480 Speaker 1: a lot of getting ready for instead. I do think 61 00:03:27,639 --> 00:03:30,400 Speaker 1: voters are saying they are they are getting a little 62 00:03:30,400 --> 00:03:35,000 Speaker 1: weary of Trump and Trump World, and um, you know 63 00:03:35,880 --> 00:03:38,480 Speaker 1: what comes instead of that from the Republican Party is 64 00:03:38,840 --> 00:03:41,440 Speaker 1: still to be seen. Right, So let's talk about that. 65 00:03:41,480 --> 00:03:44,800 Speaker 1: Where do we stand on the characters at play? Heading 66 00:03:44,840 --> 00:03:48,080 Speaker 1: into who are the main names we're going to be 67 00:03:48,080 --> 00:03:52,240 Speaker 1: talking about and who are you looking at specifically? Well, 68 00:03:52,440 --> 00:03:56,040 Speaker 1: Donald Trump has announced he is running for another term 69 00:03:56,040 --> 00:03:58,920 Speaker 1: in the White House. Um, so he is. He's out 70 00:03:58,920 --> 00:04:02,360 Speaker 1: there and starting to run. And um, right behind him 71 00:04:02,400 --> 00:04:04,720 Speaker 1: and ahead of him in some polls at Florida Governor 72 00:04:04,800 --> 00:04:08,840 Speaker 1: Ron de Santis, who um, you know is very conservative, 73 00:04:09,080 --> 00:04:13,800 Speaker 1: is a very cultural warrior sort of politician, very conservative, 74 00:04:14,240 --> 00:04:19,200 Speaker 1: but half literally half of Joe Biden's age, maybe not quite, 75 00:04:19,400 --> 00:04:22,960 Speaker 1: but almost half of Joe Biden's age. Um, And you 76 00:04:23,000 --> 00:04:26,919 Speaker 1: know is is Trump with an Ivy League education in 77 00:04:26,960 --> 00:04:29,440 Speaker 1: the sense that you know, he's done his and he's 78 00:04:29,480 --> 00:04:32,720 Speaker 1: worked the leavers of government as an as a state executive. 79 00:04:33,240 --> 00:04:38,160 Speaker 1: So there's a lot of Republican Republicans who are looking 80 00:04:38,200 --> 00:04:40,720 Speaker 1: at this guy and saying, hey, maybe he's the Republican 81 00:04:40,760 --> 00:04:44,200 Speaker 1: who can continue the sort of ideas that Trump promoted 82 00:04:44,680 --> 00:04:48,280 Speaker 1: without the sort of crazier stuff that Trump was all 83 00:04:48,320 --> 00:04:53,160 Speaker 1: about it, then there's any go ahead. I'm sorry. Then 84 00:04:53,200 --> 00:04:56,159 Speaker 1: there's just the whole slew of names that we've seen before, 85 00:04:56,279 --> 00:05:01,000 Speaker 1: Mike Pompeo, Mike Pence, Nicky Haley. Um. There was some 86 00:05:01,080 --> 00:05:03,520 Speaker 1: talk of Lynn Cheney running as an independent, but I 87 00:05:03,560 --> 00:05:05,359 Speaker 1: don't think she's going to do that. She just doesn't 88 00:05:05,400 --> 00:05:09,880 Speaker 1: have a constituency right now. I gotta talk about this 89 00:05:09,960 --> 00:05:12,960 Speaker 1: stock market day because just I mean, the worst years 90 00:05:13,000 --> 00:05:15,960 Speaker 1: since the financial crisis ending the day here, the SMP 91 00:05:16,120 --> 00:05:21,040 Speaker 1: falling almost throughout two I mean, we're still seeing these 92 00:05:21,080 --> 00:05:23,919 Speaker 1: signs of inflation. Wage growth is not keeping pace with 93 00:05:23,960 --> 00:05:26,600 Speaker 1: inflation at all. We're getting these rate rate hikes. But 94 00:05:26,960 --> 00:05:30,600 Speaker 1: if inflation didn't win Republicans the mid terms, does that 95 00:05:30,680 --> 00:05:35,120 Speaker 1: mean it won't win them the presidential I think we're 96 00:05:35,240 --> 00:05:38,680 Speaker 1: probably still a little too early to determine that. But 97 00:05:38,800 --> 00:05:43,839 Speaker 1: if inflation, if if inflation could be the only issue, 98 00:05:43,920 --> 00:05:46,800 Speaker 1: if the economy could be the only issue that Republicans 99 00:05:46,800 --> 00:05:49,840 Speaker 1: were campaigning on, then yes, I think they would win. 100 00:05:49,960 --> 00:05:53,840 Speaker 1: Polk have shown for decades, but American voters actually trust 101 00:05:53,880 --> 00:05:57,480 Speaker 1: Republicans more on economic issues than they do Democrats, and 102 00:05:57,520 --> 00:05:59,840 Speaker 1: so they could win on that where they where they 103 00:06:00,080 --> 00:06:04,240 Speaker 1: a misstep in two in the mid terms was, as 104 00:06:04,279 --> 00:06:07,839 Speaker 1: I said earlier, this sort of the Trump's factor, the 105 00:06:07,920 --> 00:06:13,040 Speaker 1: election deniers. The people will, surprisingly to me, very intensely 106 00:06:13,040 --> 00:06:16,200 Speaker 1: opposed to the election deniers and people who wanted to 107 00:06:16,240 --> 00:06:20,839 Speaker 1: relitigate twenty again. So if the Republican Party can focus 108 00:06:20,960 --> 00:06:23,640 Speaker 1: on the economy, on those sort of things, and of 109 00:06:23,680 --> 00:06:25,720 Speaker 1: course if the economy is still in the straights you 110 00:06:25,880 --> 00:06:28,760 Speaker 1: just mentioned and laid out so smartly, then I think 111 00:06:28,839 --> 00:06:32,080 Speaker 1: you know that that could spell good news for the 112 00:06:32,120 --> 00:06:35,719 Speaker 1: Republican And like you said, Republicans have historically one on 113 00:06:35,800 --> 00:06:40,360 Speaker 1: the economy. I wonder if you've seen any policy positions 114 00:06:40,400 --> 00:06:44,560 Speaker 1: from Democrats in your tenure that have resonated with voters 115 00:06:44,560 --> 00:06:47,680 Speaker 1: on economy. Is there anything that you've seen Democrats do 116 00:06:47,760 --> 00:06:50,400 Speaker 1: previously that could get them voters who are you know, 117 00:06:50,800 --> 00:06:54,560 Speaker 1: thinking about inflation is their number one issue? Well, you know, 118 00:06:54,800 --> 00:06:58,640 Speaker 1: in justice in the current administration, the Biden Administration's American 119 00:06:58,680 --> 00:07:02,839 Speaker 1: Rescue Plan, which was a menda spending bill that helps 120 00:07:02,960 --> 00:07:07,200 Speaker 1: get the economy off the pandemic lockdown and what they're 121 00:07:07,240 --> 00:07:11,880 Speaker 1: calling the Inflation Reduction Act UM are very popular with voters, 122 00:07:11,720 --> 00:07:14,760 Speaker 1: and so was the infrastructure bill. The trouble is, some 123 00:07:14,840 --> 00:07:19,640 Speaker 1: of the net effects of those are higher prices um 124 00:07:19,680 --> 00:07:24,040 Speaker 1: at the market. So people like the spending, they don't 125 00:07:24,160 --> 00:07:27,520 Speaker 1: like what happens after the spending, So then some of that, 126 00:07:27,760 --> 00:07:30,280 Speaker 1: of course goes to the FED defects. Right right, That 127 00:07:30,360 --> 00:07:32,800 Speaker 1: makes a lot of sense. Uh. We talked about the 128 00:07:32,800 --> 00:07:34,720 Speaker 1: FED minutes all the time, but you know, when the 129 00:07:34,720 --> 00:07:36,960 Speaker 1: price of eggs is too high, that's that's what voters 130 00:07:36,960 --> 00:07:40,600 Speaker 1: are really thinking about. Myself included in that I wanna 131 00:07:40,680 --> 00:07:43,600 Speaker 1: listen in to what President Biden said about the mid 132 00:07:43,760 --> 00:07:45,760 Speaker 1: terms and then get your take on what that means 133 00:07:45,760 --> 00:07:49,920 Speaker 1: for might might mean for him. Come while the press 134 00:07:50,000 --> 00:07:53,680 Speaker 1: and the funders are predicting a giant red wave, it 135 00:07:53,720 --> 00:07:58,640 Speaker 1: didn't happen. And he also mentioned there that he felt 136 00:07:58,720 --> 00:08:01,560 Speaker 1: confident heading into the mid terms, even as you know, 137 00:08:01,760 --> 00:08:05,560 Speaker 1: people were doubting whether or not the Republicans were going 138 00:08:05,600 --> 00:08:09,080 Speaker 1: to have this big red wave. Do you anticipate that 139 00:08:09,200 --> 00:08:12,080 Speaker 1: President Biden is going to have that same level of 140 00:08:12,120 --> 00:08:17,960 Speaker 1: confidence heading into the election as the Democratic candidate? I 141 00:08:18,040 --> 00:08:20,400 Speaker 1: really do. I think Joe Biden is a kind of 142 00:08:20,480 --> 00:08:23,640 Speaker 1: man who just is very confident. I actually think anyone 143 00:08:23,640 --> 00:08:26,280 Speaker 1: who runs him becomes the president has to be confident 144 00:08:26,360 --> 00:08:29,880 Speaker 1: because how well can you handle a job? Right? But 145 00:08:30,600 --> 00:08:34,280 Speaker 1: but he is very sure of himself. He believes he 146 00:08:34,360 --> 00:08:36,520 Speaker 1: beat Trump once, he could beat him again, He could 147 00:08:36,559 --> 00:08:39,720 Speaker 1: beat you know, anyone else, um. And he believes that, 148 00:08:39,840 --> 00:08:43,560 Speaker 1: you know, if he just keeps promoting these policies, and 149 00:08:43,679 --> 00:08:45,880 Speaker 1: as I said, some of that legislation I mentioned was 150 00:08:46,000 --> 00:08:49,680 Speaker 1: very popular, he can indeed win. We'll just have to see, 151 00:08:49,720 --> 00:08:53,200 Speaker 1: as we've talked about, what other factors are in play, Yeah, 152 00:08:53,200 --> 00:08:55,960 Speaker 1: and some of those other factors. Of course, as you're mentioning, Wendy, 153 00:08:56,080 --> 00:09:00,200 Speaker 1: it's it's the legislation happening in Congress. We had really 154 00:09:00,200 --> 00:09:02,880 Speaker 1: effective Congress over the past two years, getting a lot 155 00:09:02,880 --> 00:09:04,840 Speaker 1: of work done. I wonder if you can give me 156 00:09:04,920 --> 00:09:08,040 Speaker 1: some context on what happens to Congress right before a 157 00:09:08,080 --> 00:09:13,320 Speaker 1: presidential election. Do we historically always see key issues becoming 158 00:09:13,320 --> 00:09:15,640 Speaker 1: sort of a political football that can be used heading 159 00:09:15,640 --> 00:09:18,640 Speaker 1: into the next election, or do we ever see, you know, 160 00:09:18,760 --> 00:09:21,800 Speaker 1: some good movement on on legislation heading into the presidential 161 00:09:22,840 --> 00:09:26,080 Speaker 1: I think it really depends what the partisan makeup is 162 00:09:26,400 --> 00:09:30,160 Speaker 1: of the congress um. And I don't think before the 163 00:09:30,160 --> 00:09:34,240 Speaker 1: presidential election you're going to see um a lot of 164 00:09:34,760 --> 00:09:38,120 Speaker 1: compromise or movement. Because the election is coming up, and 165 00:09:38,120 --> 00:09:40,800 Speaker 1: because you have a Republican House in the Democratic Senate, 166 00:09:41,000 --> 00:09:43,120 Speaker 1: they're just going to be pushing each other to stop 167 00:09:43,160 --> 00:09:46,760 Speaker 1: the worst end thinks on either side. Also, I should 168 00:09:46,760 --> 00:09:48,679 Speaker 1: going back to Joe Biden for amou One thing I 169 00:09:48,720 --> 00:09:54,000 Speaker 1: should mention is Joe Biden's age. He will be eighty two, 170 00:09:54,760 --> 00:09:58,120 Speaker 1: and that would mean he would be eight six by 171 00:09:58,160 --> 00:10:01,560 Speaker 1: the time his second term is over. That is by 172 00:10:01,679 --> 00:10:05,240 Speaker 1: far the oldest president. He would be the oldest president 173 00:10:05,240 --> 00:10:08,960 Speaker 1: in American history. And I'm not an insurance agent, but 174 00:10:09,000 --> 00:10:12,120 Speaker 1: I think the actuarial table show that's a pretty that's 175 00:10:12,200 --> 00:10:15,480 Speaker 1: a pretty advanced stage for a president. And I think voters, 176 00:10:16,559 --> 00:10:18,920 Speaker 1: despite the economy and all the things we've been talking about, 177 00:10:18,920 --> 00:10:21,000 Speaker 1: may also want to take a look at that, may 178 00:10:21,080 --> 00:10:23,160 Speaker 1: also take a look at that. Every day he does 179 00:10:23,240 --> 00:10:26,679 Speaker 1: break the record for oldest president in the United States. 180 00:10:27,880 --> 00:10:30,200 Speaker 1: I wonder, Wendy, if you can give me a look 181 00:10:30,240 --> 00:10:33,200 Speaker 1: ahead to Congress next session. We are going to be 182 00:10:33,200 --> 00:10:37,199 Speaker 1: the most pressing issues when we we see Congress get 183 00:10:37,200 --> 00:10:42,120 Speaker 1: back to work next week. Well, I think, um, I 184 00:10:42,160 --> 00:10:45,880 Speaker 1: think first you're going to see the House Republicans start 185 00:10:46,160 --> 00:10:50,840 Speaker 1: on a bit of a revenge revenge tour. They want 186 00:10:50,880 --> 00:10:54,000 Speaker 1: to investigate Hunter Biden, they want to investigate Afghanistan, they 187 00:10:54,040 --> 00:10:59,720 Speaker 1: want to investigate UM uh, the immigration problems. Uh. There 188 00:10:59,720 --> 00:11:03,160 Speaker 1: may be some legislation on immigration, but as I said, 189 00:11:03,160 --> 00:11:06,680 Speaker 1: whether they can compromise and find something UM will be 190 00:11:07,320 --> 00:11:10,560 Speaker 1: is very uncertain right now. But I think at first 191 00:11:10,600 --> 00:11:12,440 Speaker 1: we're going to see the launching of a number of 192 00:11:12,440 --> 00:11:16,320 Speaker 1: investigations which will sty me UM any of the issues. 193 00:11:16,400 --> 00:11:19,320 Speaker 1: I do think though they want to aid the Ukraine 194 00:11:19,520 --> 00:11:22,559 Speaker 1: is going to be a big continuing issue. There are 195 00:11:22,640 --> 00:11:25,280 Speaker 1: some on the right flank of the Republican Party who 196 00:11:25,440 --> 00:11:27,240 Speaker 1: was they had time to cut a lot of mar 197 00:11:27,320 --> 00:11:31,200 Speaker 1: z Lensky off UM and stop spending all this money 198 00:11:31,280 --> 00:11:34,120 Speaker 1: that should be staying here at home. But you know, 199 00:11:34,240 --> 00:11:36,439 Speaker 1: over the Christmas break, he came to Washington, he gave 200 00:11:36,520 --> 00:11:39,080 Speaker 1: this impassioned speech and I think he won over a 201 00:11:39,080 --> 00:11:42,880 Speaker 1: lot of hearts and minds, and Biden is UM is 202 00:11:42,920 --> 00:11:46,240 Speaker 1: intensively supportive Ukraine. Yep. And we're gonna be hearing a 203 00:11:46,280 --> 00:11:49,960 Speaker 1: little bit more from that Zalinski speech later in our show. Wendy, 204 00:11:50,000 --> 00:11:52,840 Speaker 1: thank you so much for joining. Please uh don't work 205 00:11:52,840 --> 00:11:54,720 Speaker 1: for the rest of the night and the rest of 206 00:11:54,760 --> 00:11:57,400 Speaker 1: the year. Thank you so much. Really appreciate your insights always. 207 00:11:57,600 --> 00:11:59,640 Speaker 1: Let's head over to our panel for some more insight 208 00:11:59,720 --> 00:12:02,679 Speaker 1: on everything we just talked about. We've got Lester months 209 00:12:02,679 --> 00:12:05,840 Speaker 1: in principle at government relations firm b GR Group and 210 00:12:05,960 --> 00:12:08,920 Speaker 1: former staff director of the Senate Form Relations Committee. And 211 00:12:08,960 --> 00:12:11,800 Speaker 1: we've got Lincoln Mitchell, political analyst and lecturer at the 212 00:12:11,960 --> 00:12:15,839 Speaker 1: School of International and Public Affairs at Columbia University. Guys, 213 00:12:15,880 --> 00:12:17,680 Speaker 1: thank you so much for joining us. I want to 214 00:12:17,679 --> 00:12:20,680 Speaker 1: pick up on one thing that Wendy just mentioned was 215 00:12:20,760 --> 00:12:23,800 Speaker 1: investigations ahead of the Red Wave. There was a lot 216 00:12:23,800 --> 00:12:27,160 Speaker 1: of talk about an impeachment of Biden. Lester, I wonder 217 00:12:27,200 --> 00:12:29,040 Speaker 1: if you can give me some insight on whether or 218 00:12:29,040 --> 00:12:31,360 Speaker 1: not you think that's going to continue to get pursued 219 00:12:31,480 --> 00:12:37,320 Speaker 1: as we head into I don't think so. There's definitely 220 00:12:37,360 --> 00:12:40,439 Speaker 1: gonna be a caucus on the far right or in 221 00:12:40,520 --> 00:12:42,680 Speaker 1: kind of the populous wing, however you want to characterize 222 00:12:42,679 --> 00:12:45,160 Speaker 1: it among House Republicans that's gonna want to do that 223 00:12:45,280 --> 00:12:49,160 Speaker 1: If Kevin McCarthy is smart, he's gonna he's gonna keep 224 00:12:49,240 --> 00:12:51,960 Speaker 1: that in the background as much as possible. That's just 225 00:12:52,080 --> 00:12:55,160 Speaker 1: not a not a, not even a starter with most 226 00:12:55,200 --> 00:12:57,960 Speaker 1: American voters. I think it'd be a huge mistake. Yeah, 227 00:12:58,000 --> 00:12:59,959 Speaker 1: it feels like the type of thing that has definite 228 00:13:00,240 --> 00:13:02,960 Speaker 1: lea gotten pushed to the back burner of folks mind, 229 00:13:03,040 --> 00:13:06,880 Speaker 1: particularly particularly as we face this immigration question and of 230 00:13:06,920 --> 00:13:10,400 Speaker 1: course UH inflation as we've been talking about. Um. I 231 00:13:10,720 --> 00:13:13,240 Speaker 1: want to go to you here, Lincoln, because I was 232 00:13:13,400 --> 00:13:16,160 Speaker 1: covering the de Santis campaign in Florida, and of course 233 00:13:16,160 --> 00:13:19,400 Speaker 1: he did really well flipping Democratic strongholds like Miami. But 234 00:13:20,240 --> 00:13:22,719 Speaker 1: I just didn't see anywhere near Trump level turn out 235 00:13:22,720 --> 00:13:25,960 Speaker 1: to those De Santis rallies. I wonder if that matters 236 00:13:26,000 --> 00:13:29,600 Speaker 1: heading into four Do you think that makes an impact? 237 00:13:29,640 --> 00:13:32,319 Speaker 1: And how are you thinking about, you know, the Republicans 238 00:13:32,320 --> 00:13:36,360 Speaker 1: heading into the presidential Well, Rhodes Santis has gotten an 239 00:13:36,360 --> 00:13:40,040 Speaker 1: extraordinary amount of good press after basically winning essentially a 240 00:13:40,080 --> 00:13:42,560 Speaker 1: red state in a Republican year. I was much more 241 00:13:42,600 --> 00:13:45,120 Speaker 1: impressed on the Republican side by by Mike Dewines win 242 00:13:45,160 --> 00:13:51,600 Speaker 1: in Ohio. Interesting, tell me more about that, well, you know, well, well, well, 243 00:13:53,080 --> 00:13:56,800 Speaker 1: if the kind of Republican punditry has decided that Rhodes 244 00:13:56,880 --> 00:13:59,480 Speaker 1: Santi is the guy to beat Trump, but the important 245 00:13:59,480 --> 00:14:01,920 Speaker 1: thing to under NASA, there's no such thing as the Republican. 246 00:14:01,960 --> 00:14:05,320 Speaker 1: There's not ten elder Republicans in a room deciding here's 247 00:14:05,320 --> 00:14:08,400 Speaker 1: the guy. And as Trump looks more vulnerable, there's gonna 248 00:14:08,440 --> 00:14:11,600 Speaker 1: be a whole raft of Republican politicians who think this 249 00:14:11,640 --> 00:14:15,040 Speaker 1: is my year. And DeSantis is gonna have a hard 250 00:14:15,080 --> 00:14:18,040 Speaker 1: time waiting, waiting through all of that to get to 251 00:14:18,120 --> 00:14:21,000 Speaker 1: Donald Trump. I'm a little bit here reminded of Al 252 00:14:21,040 --> 00:14:23,600 Speaker 1: Gore in nineteen eight and I apologize for being old 253 00:14:23,920 --> 00:14:27,280 Speaker 1: and talking about what sounds like ancient history. We apologize. 254 00:14:28,080 --> 00:14:31,000 Speaker 1: In the run up to it was decided after Mondale 255 00:14:31,040 --> 00:14:33,760 Speaker 1: lost badly to Reagan in nineteen eighty four that the 256 00:14:33,760 --> 00:14:36,680 Speaker 1: Democrats needed to turn back towards the center, stopped nominating 257 00:14:36,720 --> 00:14:39,760 Speaker 1: these north Northern and northeastern liberals who couldn't win. And 258 00:14:39,840 --> 00:14:42,560 Speaker 1: Gore was this good looking Southern at that time, kind 259 00:14:42,600 --> 00:14:46,480 Speaker 1: of moderate Democrat. He looked like Superman almost, and the 260 00:14:46,520 --> 00:14:50,320 Speaker 1: consultants were so excited, and DeSantis has some of that vibe. Too, 261 00:14:50,480 --> 00:14:52,520 Speaker 1: and then what happened to al Gore is exactly what 262 00:14:52,560 --> 00:14:54,920 Speaker 1: you suggested. With De Santis, he got in front of 263 00:14:55,000 --> 00:14:58,120 Speaker 1: voters and through his you know, he was a major 264 00:14:58,160 --> 00:15:00,360 Speaker 1: public figure for the next twelve years, and he never 265 00:15:00,400 --> 00:15:03,320 Speaker 1: connected with voters. He never brought excitement to the table. 266 00:15:03,520 --> 00:15:05,720 Speaker 1: And I think that this De Santis is problem too. 267 00:15:05,800 --> 00:15:08,040 Speaker 1: And if you go back to De santiss victory speech, 268 00:15:08,440 --> 00:15:11,040 Speaker 1: woke Florida is where woke is um goes to die. 269 00:15:11,480 --> 00:15:14,760 Speaker 1: That's a great slogan in a Republican primary in a 270 00:15:14,800 --> 00:15:17,400 Speaker 1: red state. It's not going to move voters in the middle. 271 00:15:17,800 --> 00:15:20,200 Speaker 1: So I think this kind of this is the Santasis 272 00:15:20,200 --> 00:15:22,160 Speaker 1: to lose. I don't buy that at all. I just 273 00:15:22,200 --> 00:15:24,560 Speaker 1: think you bring up such excellent points. One thing that 274 00:15:24,600 --> 00:15:26,840 Speaker 1: I also noticed that you reminded me of while you 275 00:15:26,840 --> 00:15:29,560 Speaker 1: were speaking was just to Santa is not necessarily shaking 276 00:15:29,600 --> 00:15:33,040 Speaker 1: hands with folks. His team is a little bit more 277 00:15:33,040 --> 00:15:35,600 Speaker 1: hesitant to even share information about where his rallies are 278 00:15:35,640 --> 00:15:37,800 Speaker 1: going to be, so sometimes it's just hard for voters 279 00:15:38,040 --> 00:15:40,920 Speaker 1: to know where to go if they even you know, 280 00:15:40,960 --> 00:15:43,440 Speaker 1: we're really excited and wanted to attend these rallies. So 281 00:15:44,160 --> 00:15:45,800 Speaker 1: I would love to talk to you more about that, 282 00:15:45,840 --> 00:15:48,280 Speaker 1: and I hope that we continue to report on that 283 00:15:48,400 --> 00:15:53,040 Speaker 1: kind of beer test factor heading into We're gonna come 284 00:15:53,080 --> 00:15:55,880 Speaker 1: back to you Lester and you Lincoln as well throughout 285 00:15:55,920 --> 00:15:59,040 Speaker 1: our show to get more of your insights on UM 286 00:15:59,400 --> 00:16:01,560 Speaker 1: and what we can expect and how we can make 287 00:16:01,600 --> 00:16:06,320 Speaker 1: sure we read Congress smarter heading into this next session. Here. 288 00:16:06,320 --> 00:16:08,560 Speaker 1: We're gonna be back with more soon. This is Bloomberg. 289 00:16:22,920 --> 00:16:27,960 Speaker 1: This is Bloomberg sound on on Bloomberg Radio. I'm Mattis 290 00:16:28,040 --> 00:16:31,560 Speaker 1: Mills in for Joe Matthew. You should never expect a 291 00:16:31,600 --> 00:16:33,640 Speaker 1: slow news day heading into the end of the year. 292 00:16:33,720 --> 00:16:36,120 Speaker 1: That's what I did, And of course today we got 293 00:16:36,120 --> 00:16:39,280 Speaker 1: the long awaited tax returns from former President Trump. Big 294 00:16:39,280 --> 00:16:42,720 Speaker 1: news they're joining me to discuss is Bloomberg's Laura Davison, 295 00:16:42,760 --> 00:16:46,120 Speaker 1: who our producer correctly described as the best tax reporter 296 00:16:46,160 --> 00:16:48,440 Speaker 1: in the country. I could not agree more on that, Laura. 297 00:16:48,520 --> 00:16:51,240 Speaker 1: We are lucky to have you to discuss this with us. 298 00:16:51,640 --> 00:16:56,920 Speaker 1: My big question is Trump's tax payment or or lack thereof. 299 00:16:56,960 --> 00:16:59,320 Speaker 1: That doesn't really feel like big news to me. The 300 00:16:59,400 --> 00:17:01,240 Speaker 1: news might be on the I R. S side. What 301 00:17:01,400 --> 00:17:05,400 Speaker 1: is your reading on on the biggest takeaway from these documents. Yeah, 302 00:17:05,440 --> 00:17:08,359 Speaker 1: for these documents, it's really difficult to say if Trump 303 00:17:08,400 --> 00:17:11,400 Speaker 1: did anything wrong. UM. These were returns that were filled out. 304 00:17:11,400 --> 00:17:13,879 Speaker 1: A lot of these UM, all of these deductioncies claimed 305 00:17:13,880 --> 00:17:16,240 Speaker 1: are all legal deductions part of the tax code, and 306 00:17:16,280 --> 00:17:19,920 Speaker 1: it's not clear that anyone can say just from misinformation 307 00:17:20,440 --> 00:17:23,800 Speaker 1: that there was any wrongdoing anything that was against the 308 00:17:23,800 --> 00:17:26,480 Speaker 1: tax laws. Here. Who the person or the group who 309 00:17:26,520 --> 00:17:28,760 Speaker 1: could tell that is the Internal Revenue Service the i 310 00:17:28,880 --> 00:17:31,119 Speaker 1: r S. Those auditors are able to go out and 311 00:17:31,160 --> 00:17:35,240 Speaker 1: get additional information to substantiate those claims and see if Trump, 312 00:17:35,520 --> 00:17:37,639 Speaker 1: you know, if all the numbers add up. Of course, 313 00:17:37,720 --> 00:17:39,520 Speaker 1: the big story here, as you alluded to, is that 314 00:17:39,560 --> 00:17:41,520 Speaker 1: the Trump is that the i r S didn't do that. 315 00:17:41,560 --> 00:17:43,959 Speaker 1: They didn't audit Trump while he was in office. It's 316 00:17:44,000 --> 00:17:46,240 Speaker 1: their policy to do so, and they didn't UM. And 317 00:17:46,240 --> 00:17:48,720 Speaker 1: so this really raises a lot of questions both about 318 00:17:48,760 --> 00:17:50,920 Speaker 1: the i r S was happening, if there was any pressure, 319 00:17:51,280 --> 00:17:53,960 Speaker 1: as well as UM, you know, is there the potential 320 00:17:54,040 --> 00:17:55,600 Speaker 1: that now that all of this has come out, the 321 00:17:55,600 --> 00:17:58,200 Speaker 1: i r S could pull some of Trump's UM tax 322 00:17:58,200 --> 00:18:00,280 Speaker 1: returns for audit and there could be some wrong doing. 323 00:18:00,720 --> 00:18:04,160 Speaker 1: I love the way you phrase your headline coverage of this, uh, 324 00:18:04,320 --> 00:18:08,160 Speaker 1: sketchy deductions among red flags and Trump taxes. It feels 325 00:18:08,240 --> 00:18:10,080 Speaker 1: very similar to a lot of my friends and I 326 00:18:10,280 --> 00:18:14,040 Speaker 1: group chats about about each other. Um, can you walk 327 00:18:14,080 --> 00:18:16,560 Speaker 1: me through some of the biggest red flags that you 328 00:18:16,640 --> 00:18:19,040 Speaker 1: found from these tax returns that might not be making 329 00:18:19,160 --> 00:18:21,680 Speaker 1: the headlines? I mean, there was so much to read through. 330 00:18:21,840 --> 00:18:25,040 Speaker 1: What what stood out to you that interested you but 331 00:18:25,160 --> 00:18:29,760 Speaker 1: isn't necessarily the biggest headline news. Yeah. So the there's 332 00:18:29,760 --> 00:18:32,000 Speaker 1: a group of tax experts with in Congress as a 333 00:18:32,040 --> 00:18:34,480 Speaker 1: nonpartisan group called the Joint Committee on Taxation. They put 334 00:18:34,480 --> 00:18:37,160 Speaker 1: out a whole report. They got to review the returns 335 00:18:37,200 --> 00:18:40,439 Speaker 1: and and basically flag all the things that they said, Uh, 336 00:18:40,480 --> 00:18:41,679 Speaker 1: you know, if the I R s were to do 337 00:18:41,680 --> 00:18:43,440 Speaker 1: an audit, these would be the triggers that they would 338 00:18:43,520 --> 00:18:45,959 Speaker 1: should look for. So, you know, this really ranges from 339 00:18:46,000 --> 00:18:48,600 Speaker 1: a whole slew of things of just some really big 340 00:18:48,640 --> 00:18:51,439 Speaker 1: deductions that don't appear to be justified, as well as 341 00:18:51,480 --> 00:18:54,520 Speaker 1: some other payments to Avanka and other Trump children that 342 00:18:54,560 --> 00:18:57,120 Speaker 1: are classified as loans but look like they may actually 343 00:18:57,119 --> 00:18:59,760 Speaker 1: be gifts which would need which Trump would need to 344 00:18:59,760 --> 00:19:02,359 Speaker 1: pay taxes on you know, other things as well. You know, 345 00:19:02,520 --> 00:19:04,639 Speaker 1: UM is parts of his business, and there was an 346 00:19:04,680 --> 00:19:09,040 Speaker 1: aviation deduction for private jets that was highly questionable, as 347 00:19:09,040 --> 00:19:13,000 Speaker 1: well as a deduction for the now defunct Trump University. 348 00:19:13,080 --> 00:19:14,960 Speaker 1: So a lot that's laid out there. You know, some 349 00:19:15,040 --> 00:19:17,600 Speaker 1: of these very well could be perfectly uh, you know, 350 00:19:17,640 --> 00:19:19,880 Speaker 1: reasonable and backed up in an audit. But did these 351 00:19:19,960 --> 00:19:22,080 Speaker 1: you know, there were dozens of things that these nonpartisan 352 00:19:22,240 --> 00:19:25,960 Speaker 1: UM actors found that could be problematic. It's it's so interesting, 353 00:19:26,040 --> 00:19:29,159 Speaker 1: and because you are such a tax expert, I have 354 00:19:29,240 --> 00:19:32,360 Speaker 1: to wonder about the I R S here. Uh. One 355 00:19:32,359 --> 00:19:35,960 Speaker 1: thing that Jeanie Schanza, no our contributor on the politics side, 356 00:19:36,000 --> 00:19:38,399 Speaker 1: told us earlier today during Bounce of Power was that 357 00:19:38,480 --> 00:19:42,919 Speaker 1: sometimes it's what's legal is what's the most stunning. What 358 00:19:43,040 --> 00:19:47,159 Speaker 1: does this change for the I R S? If anything? So, 359 00:19:47,200 --> 00:19:48,920 Speaker 1: there's not a lot that the I R S can 360 00:19:49,000 --> 00:19:51,240 Speaker 1: do about the tax laws themselves, and the I R 361 00:19:51,320 --> 00:19:53,840 Speaker 1: S is there to enforce the tax laws. UM, you know, 362 00:19:53,880 --> 00:19:55,760 Speaker 1: they this will probably will be a wake up call 363 00:19:55,840 --> 00:19:57,920 Speaker 1: for their own internal auditing to make sure that they're 364 00:19:57,960 --> 00:19:59,480 Speaker 1: doing what they said that they would be doing in 365 00:19:59,600 --> 00:20:02,600 Speaker 1: terms of uditing whoever is in the White House. But 366 00:20:02,640 --> 00:20:05,400 Speaker 1: this is also you know, sort of a Democrats at least. 367 00:20:05,400 --> 00:20:06,840 Speaker 1: The point this is, this is a wake up call 368 00:20:06,920 --> 00:20:09,800 Speaker 1: to change the tax code that there are, um, you know, 369 00:20:09,960 --> 00:20:13,000 Speaker 1: deductions and credits and tax breaks that are available only 370 00:20:13,000 --> 00:20:15,160 Speaker 1: to the very wealthy and not to the average taxpayer. 371 00:20:15,400 --> 00:20:18,600 Speaker 1: And Democrats have been pounding on this for years. Um, 372 00:20:18,640 --> 00:20:20,560 Speaker 1: they didn't really get to do anything with this. They 373 00:20:20,600 --> 00:20:22,520 Speaker 1: didn't have the votes in Congress when they had both 374 00:20:22,760 --> 00:20:24,639 Speaker 1: the House and the Senate because of you know, some 375 00:20:24,760 --> 00:20:26,600 Speaker 1: moderates who didn't want to vote for some of these 376 00:20:26,600 --> 00:20:29,280 Speaker 1: tax increases. Uh So it's really unclear kind of what 377 00:20:29,359 --> 00:20:31,560 Speaker 1: the long term prospects and long term action might be 378 00:20:31,600 --> 00:20:34,520 Speaker 1: from this. Well, we are going to get to exactly 379 00:20:34,640 --> 00:20:37,880 Speaker 1: that and go to my conversation with Representative Don Buyer 380 00:20:38,000 --> 00:20:40,760 Speaker 1: from earlier today. Laura, thank you so much. I asked 381 00:20:40,840 --> 00:20:44,480 Speaker 1: Representative Buyer about how Trump's tax returns could impact any 382 00:20:44,480 --> 00:20:48,760 Speaker 1: potential policy changes for someone who's president United States. The 383 00:20:48,880 --> 00:20:52,240 Speaker 1: legislation we passed in the House last week would would 384 00:20:52,280 --> 00:20:55,600 Speaker 1: mandate and I R s audit by law for every 385 00:20:55,640 --> 00:20:58,679 Speaker 1: president every year, and and I know many states have 386 00:20:58,760 --> 00:21:01,679 Speaker 1: required them. President us to release the tax return just 387 00:21:01,800 --> 00:21:04,399 Speaker 1: to be a candidate on the ballot. But the bigger 388 00:21:04,440 --> 00:21:06,800 Speaker 1: picture is not just people are president United States, but 389 00:21:06,880 --> 00:21:11,119 Speaker 1: people who are cheating on their taxes or way underpaying. 390 00:21:11,440 --> 00:21:13,280 Speaker 1: And for that you just need a more robust I 391 00:21:13,440 --> 00:21:15,919 Speaker 1: R S. It's been starr for the last ten years. 392 00:21:16,480 --> 00:21:18,880 Speaker 1: We saw even when they did go to to audit 393 00:21:18,920 --> 00:21:21,800 Speaker 1: Donald Trump's third tax return, they only put one eight 394 00:21:21,880 --> 00:21:24,560 Speaker 1: in on it because they had so few resources. Shifting 395 00:21:24,600 --> 00:21:27,159 Speaker 1: from policy to politics a little bit here, there's some 396 00:21:27,200 --> 00:21:31,760 Speaker 1: concern about Republicans using this same tactic of auditing towards 397 00:21:31,800 --> 00:21:34,280 Speaker 1: Democrats and this kind of kicking off a tip for 398 00:21:34,600 --> 00:21:37,800 Speaker 1: battle of tax returns for elected officials. What do you 399 00:21:37,840 --> 00:21:42,040 Speaker 1: think about that? I think it's very unlikely. Um. First 400 00:21:42,040 --> 00:21:45,200 Speaker 1: of all, I think better of my Republican friends. But also, 401 00:21:45,359 --> 00:21:49,600 Speaker 1: you know this this was specifically, it's only been used twice, um, 402 00:21:49,640 --> 00:21:52,480 Speaker 1: and specifically for the president of the United States. So 403 00:21:52,520 --> 00:21:55,560 Speaker 1: I don't think they're going to come after you or me. Um. 404 00:21:55,600 --> 00:21:57,080 Speaker 1: They would have to be you know what, they want 405 00:21:57,080 --> 00:21:59,840 Speaker 1: to come after Joe Biden. Fine, but Joe Biden releases 406 00:21:59,880 --> 00:22:03,200 Speaker 1: a tax returns in full every year anyway, So it's 407 00:22:03,320 --> 00:22:06,480 Speaker 1: would be difficult to weaponize something. You realize that we 408 00:22:06,640 --> 00:22:10,680 Speaker 1: only sought to prove that there is a seek whether 409 00:22:10,720 --> 00:22:15,240 Speaker 1: the the I R S was performing as mandatory audit function. Um, 410 00:22:15,240 --> 00:22:17,800 Speaker 1: it's only mandated for the president United States. And this 411 00:22:17,840 --> 00:22:20,359 Speaker 1: is a president The first once is Nixon, who didn't 412 00:22:20,400 --> 00:22:25,240 Speaker 1: return his releases returns voluntarily. So it's a very unique situation. 413 00:22:25,520 --> 00:22:27,520 Speaker 1: I want to pick up on something you mentioned, thinking 414 00:22:27,560 --> 00:22:31,520 Speaker 1: better of your Republican colleagues, I wonder if you have 415 00:22:31,600 --> 00:22:34,280 Speaker 1: a sense that the GOP is committed to kind of 416 00:22:34,320 --> 00:22:38,760 Speaker 1: moving on from the trumpification of the Republican Party. Where 417 00:22:38,760 --> 00:22:44,640 Speaker 1: do you think Republicans in Congress stand heading into regarding 418 00:22:44,680 --> 00:22:48,080 Speaker 1: just kind of moving past that era matdisin That's the 419 00:22:48,119 --> 00:22:51,680 Speaker 1: sixty four question. You know, it's very divided right now. 420 00:22:52,200 --> 00:22:55,440 Speaker 1: My my, my intuitive sense is that many, many, many 421 00:22:55,600 --> 00:22:58,440 Speaker 1: would love to move on from Trump to a new 422 00:22:58,520 --> 00:23:02,679 Speaker 1: era that wasn't dominated by by all of his antics. Um, 423 00:23:02,760 --> 00:23:05,560 Speaker 1: even if they liked some of his policies. Um. But 424 00:23:05,720 --> 00:23:09,120 Speaker 1: that's an unknown. We will see Tuesday when they try 425 00:23:09,160 --> 00:23:11,879 Speaker 1: to elect a speaker UM, which which could be a 426 00:23:12,000 --> 00:23:16,280 Speaker 1: very messy day or days or weeks. It's a it's 427 00:23:16,320 --> 00:23:20,720 Speaker 1: a it's a party right now that UM has two 428 00:23:21,040 --> 00:23:26,720 Speaker 1: main UM directions domination themes that are in conflict with 429 00:23:26,760 --> 00:23:29,520 Speaker 1: one another, and I don't know who's gonna win. Heading 430 00:23:29,560 --> 00:23:32,399 Speaker 1: into the next Congress, do you think that there's going 431 00:23:32,440 --> 00:23:37,560 Speaker 1: to be a focus on more than legislative accomplishments or 432 00:23:37,600 --> 00:23:39,640 Speaker 1: do you think that you're all going to try to 433 00:23:39,680 --> 00:23:42,560 Speaker 1: get some good things done now? I think it would 434 00:23:42,560 --> 00:23:45,080 Speaker 1: be much more in legislative accomplishments. You know, we haven't 435 00:23:45,119 --> 00:23:49,000 Speaker 1: elected a House member president since the early nineteenth centuries, 436 00:23:49,119 --> 00:23:52,840 Speaker 1: so we're not going to be very engaged in that UM. 437 00:23:52,920 --> 00:23:55,199 Speaker 1: The centators and governors will fight about who gets to 438 00:23:55,240 --> 00:23:58,840 Speaker 1: run against Jue Biden UM. But you know we're not 439 00:23:58,880 --> 00:24:02,639 Speaker 1: gonna be doing things at you know our UM, you 440 00:24:02,720 --> 00:24:06,080 Speaker 1: know landmark, you know, break through exciting an either party 441 00:24:06,119 --> 00:24:08,240 Speaker 1: because of the split government. So we'll have to do 442 00:24:08,280 --> 00:24:10,920 Speaker 1: a lot of things in the middle, which will move 443 00:24:10,960 --> 00:24:13,680 Speaker 1: us slowly in our direction. I'm optimistic with the next 444 00:24:13,720 --> 00:24:16,679 Speaker 1: two years. Speaking of the next two years, break some 445 00:24:16,760 --> 00:24:18,640 Speaker 1: news for us here. Who are you putting your way 446 00:24:18,720 --> 00:24:22,919 Speaker 1: behind heading into is Biden the candidate? Well, if the 447 00:24:22,920 --> 00:24:26,120 Speaker 1: president runs, I'm holy with him. He certainly has a 448 00:24:26,160 --> 00:24:30,160 Speaker 1: great record run on and you know, the concern at eight, 449 00:24:30,320 --> 00:24:32,760 Speaker 1: of course, is always going to be health. But I 450 00:24:32,800 --> 00:24:36,080 Speaker 1: watched some shake hands for and take photographers three and 451 00:24:36,080 --> 00:24:39,800 Speaker 1: a half straight hours at the White House Congressional Christmas party, 452 00:24:39,840 --> 00:24:42,840 Speaker 1: and he and Jill both looks fit and happy. So 453 00:24:43,200 --> 00:24:45,399 Speaker 1: I want them to stay that way. Okay, Well, speaking 454 00:24:45,440 --> 00:24:48,720 Speaker 1: of parties isn't what it used to be. Well, I 455 00:24:49,040 --> 00:24:51,920 Speaker 1: feel like you are an amazing example of that because 456 00:24:52,040 --> 00:24:54,719 Speaker 1: at your very young age you are pursuing a degree 457 00:24:54,760 --> 00:24:57,359 Speaker 1: in AI heading back to college. I wonder if you 458 00:24:57,400 --> 00:25:00,480 Speaker 1: can talk to me about any resolution that you have 459 00:25:00,720 --> 00:25:06,360 Speaker 1: heading into whether that's on continuing your education or anything else. Well, 460 00:25:06,400 --> 00:25:09,760 Speaker 1: my biggest resolution is to keep trying to build people's 461 00:25:09,800 --> 00:25:13,160 Speaker 1: excitement about fusion energy in the energy of the sun, 462 00:25:13,920 --> 00:25:15,800 Speaker 1: which we know about but we've you know, we had 463 00:25:15,800 --> 00:25:19,160 Speaker 1: a breakthrough at Lawrence Livermore lapsed two weeks ago. If 464 00:25:19,200 --> 00:25:21,560 Speaker 1: we can make fusion energy happen in the next eight 465 00:25:21,640 --> 00:25:25,560 Speaker 1: or ten years, it changes the world economy, it changes 466 00:25:25,600 --> 00:25:28,840 Speaker 1: climate change, it changes poverty. And one of the hopes 467 00:25:28,920 --> 00:25:31,879 Speaker 1: is to use artificial intelligence as a way to to 468 00:25:32,040 --> 00:25:35,520 Speaker 1: manage the successes that come from from the development of 469 00:25:35,600 --> 00:25:39,360 Speaker 1: human made Fusion. I got to ask you about George Santos. 470 00:25:39,440 --> 00:25:42,919 Speaker 1: Should he be seated? Should he at committee assignments? Oh? 471 00:25:42,960 --> 00:25:45,960 Speaker 1: I don't have a strong opinion. My sense is that 472 00:25:46,880 --> 00:25:50,080 Speaker 1: until has shown that he's broken some laws, he should 473 00:25:50,080 --> 00:25:54,840 Speaker 1: be seated. We've had plenty of broads and crooksters and 474 00:25:54,840 --> 00:25:59,480 Speaker 1: all that seated before he did. Um. When the election, 475 00:26:00,520 --> 00:26:03,080 Speaker 1: I find it impossible to imagine him winning again. I 476 00:26:03,080 --> 00:26:05,440 Speaker 1: think he's already said he's not gonna run again. And 477 00:26:05,520 --> 00:26:08,800 Speaker 1: you know, if the prosecutors come up with actual criminal charges, 478 00:26:09,080 --> 00:26:12,240 Speaker 1: he'll be out of there very quickly. Representative Buyer, I 479 00:26:12,280 --> 00:26:14,440 Speaker 1: can't thank you enough for this conversation. I learned a 480 00:26:14,440 --> 00:26:16,359 Speaker 1: lot and it was really great speaking with you. Have 481 00:26:16,560 --> 00:26:18,639 Speaker 1: an amazing new year, and thank you so much for 482 00:26:18,720 --> 00:26:22,159 Speaker 1: joining us. That was Representative Don Bayer talking to me 483 00:26:22,359 --> 00:26:31,000 Speaker 1: about all things Trump, taxes, and you're listening to Bloomberg 484 00:26:31,160 --> 00:26:35,560 Speaker 1: sound On on Bloomberg Radio. I'm Madison Mills in for 485 00:26:35,720 --> 00:26:39,640 Speaker 1: Joe Matthew for our last episode of sound On in two. 486 00:26:39,840 --> 00:26:42,360 Speaker 1: It was a big, big year of news. We had 487 00:26:42,440 --> 00:26:45,720 Speaker 1: constant rate hikes from the Fed, persistent inflation, of course, 488 00:26:45,760 --> 00:26:48,679 Speaker 1: geopolitical tensions, a lot to pass through. But we were 489 00:26:48,720 --> 00:26:50,280 Speaker 1: here with you every step of the way, and we're 490 00:26:50,280 --> 00:26:53,840 Speaker 1: going to bring you into let's get a gut check 491 00:26:53,880 --> 00:26:57,000 Speaker 1: from our panel on where the news is headed in Washington. 492 00:26:57,119 --> 00:27:00,000 Speaker 1: We've got less months in principle at Government Relations from 493 00:27:00,040 --> 00:27:02,720 Speaker 1: b g R Group and former staff director of the 494 00:27:02,760 --> 00:27:05,960 Speaker 1: Senate Foreign Relations Committee. We've also got Lincoln Mitchell. He's 495 00:27:05,960 --> 00:27:09,119 Speaker 1: a political analyst and lecturer at the School of International 496 00:27:09,160 --> 00:27:12,560 Speaker 1: and Public Affairs at Columbia University. Thank you both first 497 00:27:12,560 --> 00:27:15,120 Speaker 1: sticking with us here, Lester, I want to start with you, 498 00:27:15,760 --> 00:27:21,120 Speaker 1: what in your mind was the defining story from OH. 499 00:27:21,160 --> 00:27:24,000 Speaker 1: I think it's got to be the Russian invasion of 500 00:27:24,160 --> 00:27:29,080 Speaker 1: Ukraine and really the way the Ukrainians responded to UH 501 00:27:29,119 --> 00:27:34,040 Speaker 1: to that invasion, essentially UH prevailing for the most part 502 00:27:34,080 --> 00:27:37,480 Speaker 1: on the battlefield and really showing, you know, a level 503 00:27:37,520 --> 00:27:41,840 Speaker 1: of fight that that absolutely no one expected. Really, that's 504 00:27:41,880 --> 00:27:45,399 Speaker 1: why I think that is that's a turning point in 505 00:27:45,520 --> 00:27:49,840 Speaker 1: terms of world affairs and really cannot be underestimated. Lincoln, 506 00:27:49,840 --> 00:27:53,680 Speaker 1: give us your you know, history expertise here when you 507 00:27:53,920 --> 00:27:57,000 Speaker 1: are looking at and trying to parse through the news 508 00:27:57,080 --> 00:28:00,000 Speaker 1: coming out of Ukraine, how are you reading it? As 509 00:28:00,080 --> 00:28:01,560 Speaker 1: we wrap up the year, and what are you thinking 510 00:28:01,560 --> 00:28:04,720 Speaker 1: about heading into. In many ways that are obvious, in 511 00:28:04,720 --> 00:28:07,200 Speaker 1: many ways that are not so obvious. Right, We've seen 512 00:28:07,680 --> 00:28:13,399 Speaker 1: a return of a liberal democratic Western bloc led by 513 00:28:13,440 --> 00:28:15,960 Speaker 1: a at least for now functioning United States of America, 514 00:28:16,040 --> 00:28:18,600 Speaker 1: which on January one of this year we wouldn't necessarily 515 00:28:18,680 --> 00:28:22,720 Speaker 1: have expected. And we have seen the destruction of the 516 00:28:22,800 --> 00:28:27,440 Speaker 1: Russian military that even the most optimistic pro Ukraine person 517 00:28:27,480 --> 00:28:31,479 Speaker 1: couldn't have imagined. And because of that Russia, you know, 518 00:28:31,560 --> 00:28:33,879 Speaker 1: there's a lot of media coverage of a of a 519 00:28:34,000 --> 00:28:38,120 Speaker 1: Sino Russian alliance, but that's a mischaracterization. Russia has become 520 00:28:38,120 --> 00:28:42,200 Speaker 1: a client of China, and that's an extraordinary development, and 521 00:28:42,240 --> 00:28:44,320 Speaker 1: that's largely because the sanctions have left in very few 522 00:28:44,360 --> 00:28:47,840 Speaker 1: other places to go um And then the bigger, the 523 00:28:47,880 --> 00:28:50,040 Speaker 1: macropiece here that I think we can't ignore is that 524 00:28:50,120 --> 00:28:52,760 Speaker 1: over the last is that this year, in the bigger 525 00:28:52,800 --> 00:28:56,120 Speaker 1: picture and the global picture, particularly because of this war 526 00:28:56,200 --> 00:28:58,760 Speaker 1: in Ukraine, has in many respects been a very good 527 00:28:58,840 --> 00:29:02,000 Speaker 1: year for the United States. We have returned, at least 528 00:29:02,000 --> 00:29:05,160 Speaker 1: for now, to a position of global leadership. This sanctions 529 00:29:05,240 --> 00:29:09,160 Speaker 1: regime against Russia, this support for Ukraine, is not possible 530 00:29:09,440 --> 00:29:12,000 Speaker 1: without leadership of the United States. An American foreign policy 531 00:29:12,080 --> 00:29:13,959 Speaker 1: people like to say that all the time. In this 532 00:29:14,000 --> 00:29:17,080 Speaker 1: case it's true, um, and that's particularly due to Joe Biden. 533 00:29:17,440 --> 00:29:20,720 Speaker 1: And at the end of the year, Russia is on 534 00:29:21,160 --> 00:29:24,920 Speaker 1: suffering a military defeat, facing potential instability because the Vladom 535 00:29:24,960 --> 00:29:28,600 Speaker 1: you're putting the Russian leader has been humiliated. China is 536 00:29:28,920 --> 00:29:32,160 Speaker 1: beginning to confront a disastrous COVID policy, and we don't 537 00:29:32,200 --> 00:29:34,520 Speaker 1: know how bad that will be. But if you're hij 538 00:29:34,640 --> 00:29:37,600 Speaker 1: ping right now, you've got to be very waried. And meanwhile, 539 00:29:37,720 --> 00:29:39,280 Speaker 1: the United States were the first time in a long 540 00:29:39,320 --> 00:29:42,800 Speaker 1: time seems to have pushed back against a kind of 541 00:29:42,800 --> 00:29:47,760 Speaker 1: frightening tide of authoritarianism and has passed really meaningful legislation 542 00:29:47,800 --> 00:29:50,840 Speaker 1: on key issues like the infrastructure in the environment. I 543 00:29:50,880 --> 00:29:52,880 Speaker 1: usually don't come with the radio for my optimism, but 544 00:29:52,880 --> 00:29:55,040 Speaker 1: it's been a good year for the You well, I 545 00:29:54,720 --> 00:29:57,800 Speaker 1: I love the optimism, especially on this last day of 546 00:29:57,800 --> 00:30:00,240 Speaker 1: our program here, I'm feeling really optimistic as well, so 547 00:30:00,400 --> 00:30:04,080 Speaker 1: I appreciate it. But I've got to ask you, Lester 548 00:30:04,240 --> 00:30:07,280 Speaker 1: about some of that optimism. Do you think that given 549 00:30:07,320 --> 00:30:09,960 Speaker 1: you know, Congress had this really effective past two years. 550 00:30:10,000 --> 00:30:12,000 Speaker 1: As Lincoln was saying, are we going to see more 551 00:30:12,040 --> 00:30:14,520 Speaker 1: of that in the next session or is this going 552 00:30:14,560 --> 00:30:17,680 Speaker 1: to be a return to politics over policy as we 553 00:30:17,720 --> 00:30:22,320 Speaker 1: head closer to well to start, I think we can 554 00:30:22,360 --> 00:30:27,080 Speaker 1: say expectations are pretty low for Congress going into next year. Uh, 555 00:30:27,080 --> 00:30:29,480 Speaker 1: and that that can be the Congress's advantage. I think 556 00:30:29,520 --> 00:30:32,840 Speaker 1: if Kevin McCarthy even gets elected as speaker, people are 557 00:30:32,880 --> 00:30:37,240 Speaker 1: going to be impressed by that. That political feat. So 558 00:30:37,360 --> 00:30:40,320 Speaker 1: his his He's done a good job of gloring expectations. 559 00:30:40,440 --> 00:30:42,960 Speaker 1: That's always a good political move. And let me let 560 00:30:42,960 --> 00:30:45,440 Speaker 1: me just real quick and kind of pivot off what 561 00:30:45,560 --> 00:30:49,040 Speaker 1: Lincoln said and give a shout out to Nancy Pelosi. Yes, 562 00:30:49,120 --> 00:30:51,800 Speaker 1: Biden deserves credit for managing the war in Ukraine, but 563 00:30:51,840 --> 00:30:54,960 Speaker 1: it was Nancy Pelosi. I'd say this as a Republican 564 00:30:55,000 --> 00:30:58,600 Speaker 1: who stiffened the spine of the administration on tougher sanctions 565 00:30:58,600 --> 00:31:01,880 Speaker 1: on Russia and more aid to the Ukrainians. She came 566 00:31:01,920 --> 00:31:04,920 Speaker 1: out right out of the gate and said we're gonna 567 00:31:04,960 --> 00:31:07,080 Speaker 1: we're gonna do whatever we can for the Ukrainians, and 568 00:31:07,080 --> 00:31:10,280 Speaker 1: we're going to stop importing Russian oil. She was the 569 00:31:10,320 --> 00:31:14,240 Speaker 1: one who really pushed the White House into into the 570 00:31:14,600 --> 00:31:16,520 Speaker 1: good position that it's in written now. So let's give 571 00:31:16,960 --> 00:31:19,000 Speaker 1: on her way out the door, let's give a lot 572 00:31:19,040 --> 00:31:22,400 Speaker 1: of credit to Speaker Nancy Pelos. I am amazed by 573 00:31:22,560 --> 00:31:26,280 Speaker 1: by that comment coming from you there. That's that's so interesting, Lincoln. 574 00:31:26,280 --> 00:31:27,640 Speaker 1: I wonder if you can jump in, what do you 575 00:31:27,640 --> 00:31:32,440 Speaker 1: think we're losing as we see Nancy Pelosi stepping down? Well, 576 00:31:32,480 --> 00:31:36,080 Speaker 1: I'm actually in Nancy Pelosi's district right now. Um, and 577 00:31:36,240 --> 00:31:38,760 Speaker 1: I grew up in San Francisco. Nancy Pelosi is my second, 578 00:31:38,800 --> 00:31:41,320 Speaker 1: my second favorite eight two year old woman in San Francisco. 579 00:31:41,440 --> 00:31:44,280 Speaker 1: My first favorite is my mother. Um. She's been an 580 00:31:44,320 --> 00:31:48,160 Speaker 1: extraordinary speaker, historic speaker. This is and and Lester's right 581 00:31:48,280 --> 00:31:52,080 Speaker 1: about her stiffening Despine to the Biden administration. But Nancy 582 00:31:52,080 --> 00:31:54,240 Speaker 1: Pelosi was also the one who went to Barack Obama 583 00:31:54,280 --> 00:31:56,440 Speaker 1: in two thousand nine and ten and said, don't listen 584 00:31:56,480 --> 00:31:59,440 Speaker 1: to Ram Emmanuel, don't walk away from Obamacare. And that 585 00:31:59,480 --> 00:32:02,880 Speaker 1: was an extra anarily important piece of domestic legislation. As 586 00:32:02,920 --> 00:32:05,920 Speaker 1: a legislative leader, we kind of particularly democratic side, we 587 00:32:05,920 --> 00:32:08,080 Speaker 1: often just take it for granted that, for example, the 588 00:32:08,160 --> 00:32:13,680 Speaker 1: Caucus state almost entirely unified through the through the Trump administration, 589 00:32:13,720 --> 00:32:16,680 Speaker 1: against Trump and in support of the Biden administration, and 590 00:32:16,720 --> 00:32:18,560 Speaker 1: we may be losing that. I think I Kim Jeffreys 591 00:32:18,600 --> 00:32:21,040 Speaker 1: will be fine, and I think the way Nancy Pelosi 592 00:32:21,080 --> 00:32:24,480 Speaker 1: has handled this was very good, leaving now being around 593 00:32:24,560 --> 00:32:27,840 Speaker 1: for two years as a speaker emeritus, where Hakim Jeffreys 594 00:32:27,840 --> 00:32:30,080 Speaker 1: can have kind of get his his sea legs as 595 00:32:30,080 --> 00:32:32,880 Speaker 1: a potential future speaker at a time when I think 596 00:32:32,880 --> 00:32:35,560 Speaker 1: we would all agree. The Republican Caucus maybe in a 597 00:32:35,600 --> 00:32:37,440 Speaker 1: bit of a chaotic field right now, so it's not 598 00:32:37,480 --> 00:32:39,800 Speaker 1: the most difficult time to be a Democratic leader. But 599 00:32:39,920 --> 00:32:41,600 Speaker 1: Nancy Pelosi will go down to history is one of 600 00:32:41,600 --> 00:32:44,200 Speaker 1: the most important legislative leaders in the history of the 601 00:32:44,240 --> 00:32:47,360 Speaker 1: United States, and it's extraordinary. And I wish her happy retirement, 602 00:32:47,400 --> 00:32:49,280 Speaker 1: and I want to say that I wish her husband 603 00:32:49,400 --> 00:32:52,880 Speaker 1: a healthy recovery. The attack on Nancy Pelosi, a fifteen 604 00:32:52,920 --> 00:32:56,080 Speaker 1: minute walk from where I'm sitting now, was really a 605 00:32:56,200 --> 00:32:58,080 Speaker 1: real low point for the United States and a real 606 00:32:58,120 --> 00:33:00,800 Speaker 1: low point for when I hope we don't have any 607 00:33:00,800 --> 00:33:03,880 Speaker 1: more violence of that on either side for either the 608 00:33:04,200 --> 00:33:07,240 Speaker 1: direction in the future. This is not what's going to 609 00:33:07,280 --> 00:33:09,200 Speaker 1: help the United States of America is really terrible. I'm 610 00:33:09,200 --> 00:33:12,320 Speaker 1: glad that you bring that up, because political violence and 611 00:33:12,480 --> 00:33:14,680 Speaker 1: violence you know at the polls, that's something I covered 612 00:33:14,680 --> 00:33:17,520 Speaker 1: in the mid terms really closely. I wonder to what 613 00:33:17,640 --> 00:33:20,040 Speaker 1: extent we might need to gear up for more of 614 00:33:20,080 --> 00:33:24,600 Speaker 1: that heading into and certainly, Lester, is that something that's 615 00:33:24,600 --> 00:33:28,560 Speaker 1: heavily on your radar. H My gosh, I hope we 616 00:33:28,680 --> 00:33:31,480 Speaker 1: don't have to worry about that next year. What a 617 00:33:32,240 --> 00:33:35,920 Speaker 1: you know, We've got to move on. I'm I'm a 618 00:33:35,920 --> 00:33:41,120 Speaker 1: little skeptical that this is, you know, the the fault 619 00:33:41,160 --> 00:33:43,520 Speaker 1: of one party or the other, so much as it 620 00:33:43,600 --> 00:33:47,520 Speaker 1: is really a national problem for Americans. We did not 621 00:33:47,960 --> 00:33:51,320 Speaker 1: Maybe we didn't handle the pandemic the right way. Maybe 622 00:33:51,400 --> 00:33:53,400 Speaker 1: we need to relearn some lessons about the things we 623 00:33:53,480 --> 00:33:55,720 Speaker 1: have in common as much as we've been focusing on 624 00:33:55,720 --> 00:33:59,400 Speaker 1: our differences. But the one thing everyone should agree on 625 00:33:59,520 --> 00:34:03,320 Speaker 1: but leaving behind is any kind of support for political violence. 626 00:34:03,400 --> 00:34:07,400 Speaker 1: It's just it's a terrible thing, absolutely, and it's something 627 00:34:07,440 --> 00:34:10,520 Speaker 1: that we are going to continue to cover if it 628 00:34:10,640 --> 00:34:13,759 Speaker 1: does continue heading into the years to come. It's something 629 00:34:13,800 --> 00:34:16,520 Speaker 1: that I saw when covering the mid terms, and it 630 00:34:16,719 --> 00:34:20,319 Speaker 1: is definitely a dark spot on two, but I like 631 00:34:20,480 --> 00:34:22,680 Speaker 1: the way that you guys are thinking some optimism heading 632 00:34:22,719 --> 00:34:25,200 Speaker 1: into this next session. We're going to continue to cover 633 00:34:25,320 --> 00:34:28,320 Speaker 1: that more when we get back on sound On. This 634 00:34:28,600 --> 00:34:53,480 Speaker 1: is Bloomberg. This is Bloomberg. Sound On on Bloomberg Radio, 635 00:34:54,600 --> 00:34:57,960 Speaker 1: Bloomberg sound On. Brought to you by Innovation refund Small 636 00:34:58,000 --> 00:35:01,200 Speaker 1: business is impacted by the COVID nineteam pandemic may qualify 637 00:35:01,320 --> 00:35:04,719 Speaker 1: for the Employee Retention Credit Let Innovation Refunds. Do the 638 00:35:04,760 --> 00:35:07,640 Speaker 1: work to find out now if your organization qualifies for 639 00:35:07,760 --> 00:35:11,160 Speaker 1: the R seat assistance. They've already helped businesses claim over 640 00:35:11,239 --> 00:35:14,920 Speaker 1: two billion dollars in payroll tax refunds. Learn more at 641 00:35:14,960 --> 00:35:18,719 Speaker 1: get refunds dot com. I'm autas some mills in for 642 00:35:18,880 --> 00:35:21,560 Speaker 1: Joe Matthew on sound On. Make sure to subscribe to 643 00:35:21,600 --> 00:35:25,080 Speaker 1: the podcast on Apple, Spotify, anywhere else you get your pods. 644 00:35:25,719 --> 00:35:28,040 Speaker 1: Today we're looking at the big stories of the year. 645 00:35:28,080 --> 00:35:31,520 Speaker 1: We had some dark moments, but of course some beautiful ones. 646 00:35:31,560 --> 00:35:33,440 Speaker 1: We're gonna go to our panel to talk about some 647 00:35:33,480 --> 00:35:36,439 Speaker 1: of the good news from two guys. I gotta say 648 00:35:36,520 --> 00:35:40,040 Speaker 1: for me covering the overturning of Roe V. Wade was 649 00:35:40,080 --> 00:35:42,480 Speaker 1: a big moment because I got the opportunity to talk 650 00:35:42,480 --> 00:35:44,680 Speaker 1: to a lot of activists who were working to keep 651 00:35:45,440 --> 00:35:48,319 Speaker 1: women and folks healthy across the US and seeing their 652 00:35:48,360 --> 00:35:52,480 Speaker 1: work was very powerful. Lincoln, give me your thirty second 653 00:35:52,600 --> 00:35:56,120 Speaker 1: rows of what was some good news for you. The 654 00:35:56,239 --> 00:35:59,640 Speaker 1: best news for me was the high turnout of Generation 655 00:35:59,800 --> 00:36:03,520 Speaker 1: Z in the mid from election. And so many of 656 00:36:03,600 --> 00:36:06,320 Speaker 1: us older pundits, we always hear so much, are the 657 00:36:06,400 --> 00:36:08,520 Speaker 1: young people going to vote? And we saw that they 658 00:36:08,560 --> 00:36:10,520 Speaker 1: came out. They came out in big numbers, and it 659 00:36:10,520 --> 00:36:14,000 Speaker 1: turns out that this generation doesn't like being told what 660 00:36:14,080 --> 00:36:16,120 Speaker 1: to do with their bodies, and they don't really like 661 00:36:16,200 --> 00:36:19,320 Speaker 1: doing school shooter drills, and they voted that way. Generations 662 00:36:19,560 --> 00:36:22,359 Speaker 1: helps safe American democracy. I have two sons in that category, 663 00:36:22,440 --> 00:36:24,240 Speaker 1: and I'm very proud of them, of that whole generation. 664 00:36:24,520 --> 00:36:27,560 Speaker 1: That generation is really really special to watch, and I 665 00:36:27,560 --> 00:36:30,480 Speaker 1: should mention we just heard from Lincoln Midgell political Analysts 666 00:36:30,480 --> 00:36:33,160 Speaker 1: and lecture at the School of International and Public Affairs 667 00:36:33,160 --> 00:36:36,160 Speaker 1: at Colombia, and I'm about to talk with Lester Munson. 668 00:36:36,239 --> 00:36:38,960 Speaker 1: He's principal at Government Relations from b GR Group and 669 00:36:39,040 --> 00:36:43,200 Speaker 1: former staff director of the Senate Foreign Relations Committee, same 670 00:36:43,239 --> 00:36:46,040 Speaker 1: question for you, Lester, what's the big bright spot you're 671 00:36:46,080 --> 00:36:50,080 Speaker 1: taking away from? Well, as a as kind of a 672 00:36:50,080 --> 00:36:54,839 Speaker 1: traditional Republican, my big bright spot was the fact that 673 00:36:54,880 --> 00:36:59,880 Speaker 1: these populist candidates, these Trump linked candidates, did so poor 674 00:37:00,280 --> 00:37:03,640 Speaker 1: in the election in November for the Republicans that I 675 00:37:03,680 --> 00:37:05,360 Speaker 1: think the party has a good chance to kind of 676 00:37:05,400 --> 00:37:09,160 Speaker 1: pivot away from the recent insanity and move back towards 677 00:37:09,160 --> 00:37:12,279 Speaker 1: something more sensible. I'm hopeful on that. And then I'll 678 00:37:12,320 --> 00:37:14,920 Speaker 1: also throw in the emergence of a real quarterback for 679 00:37:14,960 --> 00:37:19,160 Speaker 1: the Chicago Bearers fields. Alright, alright, alright, I'm gonna I'm 680 00:37:19,160 --> 00:37:20,880 Speaker 1: gonna cut you off on that one because I cannot 681 00:37:20,920 --> 00:37:23,719 Speaker 1: talk about sports. Our producer Justin Milliner put together a 682 00:37:23,719 --> 00:37:27,120 Speaker 1: great montage of the big stories from Let's take a 683 00:37:27,160 --> 00:37:32,759 Speaker 1: listen the latest developments out of Ukraine. Russian forces have 684 00:37:32,800 --> 00:37:35,640 Speaker 1: attacked targets across the country. We still have some ways 685 00:37:35,680 --> 00:37:40,239 Speaker 1: to go, and incoming data since our last meeting suggests 686 00:37:40,320 --> 00:37:42,720 Speaker 1: that the ultimate level of interest rates will be higher 687 00:37:42,880 --> 00:37:47,120 Speaker 1: than previously I expected. Supreme Court has overturned ro versus ways. 688 00:37:47,280 --> 00:37:49,680 Speaker 1: They're standing on the side of women to defend their 689 00:37:49,719 --> 00:37:52,279 Speaker 1: freedoms and to uphold this to my nominee for the 690 00:37:52,320 --> 00:37:57,080 Speaker 1: United States Supreme Court, Judge Katangi Jackson, someone extremely qualified. 691 00:37:57,160 --> 00:38:02,759 Speaker 1: I have a seat at the table now I'm here 692 00:38:02,840 --> 00:38:05,640 Speaker 1: to ask you to vote. I thought it isn't grocery shopping. 693 00:38:05,680 --> 00:38:08,920 Speaker 1: I'm at weg nurse and my wife wants some vegetables 694 00:38:09,120 --> 00:38:13,600 Speaker 1: forcruit today. Right, So in the Mound Valley we make 695 00:38:14,000 --> 00:38:18,840 Speaker 1: still in New Jersey and New Jersey, Dr Oz makes 696 00:38:20,239 --> 00:38:24,960 Speaker 1: a lot of what I wanted to kill Vamparty I'll 697 00:38:25,280 --> 00:38:26,759 Speaker 1: do is I don't want to be a vamparty. What 698 00:38:26,880 --> 00:38:28,840 Speaker 1: I want to be a weaver. While the press and 699 00:38:28,880 --> 00:38:33,080 Speaker 1: the fundments are predicting a giant red wave, it didn't happen, 700 00:38:33,600 --> 00:38:36,800 Speaker 1: and with great confidence in our caucause, I will not 701 00:38:36,960 --> 00:38:40,920 Speaker 1: seek re election to democratic leadership in the next Congress. 702 00:38:41,239 --> 00:38:45,160 Speaker 1: Is a doggy coin or dog dog doge coin. The 703 00:38:45,320 --> 00:38:50,600 Speaker 1: struggle will define in what world our children and grandchildren 704 00:38:51,360 --> 00:38:55,959 Speaker 1: we'll leave, and then they are children and grandchildren. Scientists 705 00:38:56,239 --> 00:39:01,640 Speaker 1: at the National Ignition Facility achieved few Jean ignition. It's 706 00:39:01,719 --> 00:39:04,360 Speaker 1: the first time it has ever been done in a 707 00:39:04,480 --> 00:39:14,400 Speaker 1: laboratory anywhere. That beautiful montage of all the news from 708 00:39:15,560 --> 00:39:17,640 Speaker 1: Thank You for getting your news from Bloomberg this year. 709 00:39:17,680 --> 00:39:19,279 Speaker 1: Your host Joe Matthew is going to be back with 710 00:39:19,320 --> 00:39:21,800 Speaker 1: you next week, but I really enjoyed closing out the 711 00:39:21,840 --> 00:39:24,520 Speaker 1: year with you. I want to thank the sound on team, Justin, Matt, 712 00:39:24,680 --> 00:39:27,200 Speaker 1: Sebastian and Christine and all the other folks who make 713 00:39:27,239 --> 00:39:30,000 Speaker 1: this show happen. Have a happy new Year everyone, thanks 714 00:39:30,040 --> 00:39:32,480 Speaker 1: for listening. I'm Mattis Mills. This is Bloomberg.