1 00:00:01,680 --> 00:00:06,200 Speaker 1: Now from our nation's capital. This is Bloomberg's sound on 2 00:00:07,240 --> 00:00:09,920 Speaker 1: Damn calling on Congress to suspend the trend of jazz 3 00:00:10,000 --> 00:00:13,600 Speaker 1: tax for the next ninety days. Another band aid and 4 00:00:13,800 --> 00:00:16,920 Speaker 1: something they know is dead on arrival up here in Congress. 5 00:00:16,960 --> 00:00:19,200 Speaker 1: The holiday the American people need is a holiday from 6 00:00:19,280 --> 00:00:24,280 Speaker 1: Joe Biden's terrible energy policy. Bloomberg sound On Politics, Policy 7 00:00:24,320 --> 00:00:28,160 Speaker 1: and perspective from DC's top name. So when jazz prices 8 00:00:28,160 --> 00:00:30,560 Speaker 1: go down as a result of your interest rate increase, 9 00:00:31,000 --> 00:00:33,479 Speaker 1: I would not think so. Now did J Powell just 10 00:00:33,600 --> 00:00:36,360 Speaker 1: predict a recession? As close as you can get if 11 00:00:36,400 --> 00:00:39,240 Speaker 1: you're the chairman of the Fed. Bloomberg Sound On with 12 00:00:39,360 --> 00:00:44,320 Speaker 1: Joe Matthew on Bloomberg Radio. President Biden calls for a 13 00:00:44,400 --> 00:00:48,360 Speaker 1: gas tax holiday without the support of Capitol Hill. Welcome 14 00:00:48,400 --> 00:00:51,640 Speaker 1: to the fastest hour in politics, as the President speaks 15 00:00:51,640 --> 00:00:54,720 Speaker 1: from the White House on this even as FED Chair J. 16 00:00:54,920 --> 00:00:58,920 Speaker 1: Powell answers tough questions in the Senate about inflation. Will 17 00:00:58,960 --> 00:01:03,920 Speaker 1: be seeking answers from Bloomberg International Economics and Policy correspondent 18 00:01:04,000 --> 00:01:06,920 Speaker 1: Mike McKee in the Capitol today and with our panel 19 00:01:07,200 --> 00:01:11,000 Speaker 1: Bloomberg Politics contributors Rick Davis and Genie Chantano with us 20 00:01:11,040 --> 00:01:14,119 Speaker 1: for the hour later. Another primary night in America cuts 21 00:01:14,160 --> 00:01:16,360 Speaker 1: both ways for Donald Trump will look at the results 22 00:01:16,400 --> 00:01:21,119 Speaker 1: from Alabama, Georgia, and Virginia with Bloomberg Elections reporter Greg Jarrow. 23 00:01:21,400 --> 00:01:23,880 Speaker 1: President Biden is going for it. We talked about this 24 00:01:24,040 --> 00:01:26,920 Speaker 1: quite a bit yesterday, so you were smarter than everyone 25 00:01:26,959 --> 00:01:32,280 Speaker 1: else at the cocktail party. The gas tax holiday is 26 00:01:32,319 --> 00:01:34,720 Speaker 1: now apparently in favor at the White House. But I 27 00:01:34,800 --> 00:01:37,479 Speaker 1: will remind you the President cannot do this on his own, 28 00:01:37,920 --> 00:01:41,479 Speaker 1: calling on Congress to suspend the eighteen cent to gallon 29 00:01:41,600 --> 00:01:45,759 Speaker 1: tax for three months. The big concern here, of course, 30 00:01:46,840 --> 00:01:51,520 Speaker 1: is that oil companies may or may not pass it on. 31 00:01:51,680 --> 00:01:55,200 Speaker 1: By suspending the eighteen cent gas tax federal gas tax 32 00:01:55,400 --> 00:01:57,840 Speaker 1: for the next ninety days, we can bring down the 33 00:01:57,880 --> 00:02:00,800 Speaker 1: price of gas and give family. It's just a little 34 00:02:00,800 --> 00:02:04,440 Speaker 1: bit of relief. I call on the company's to pass 35 00:02:04,560 --> 00:02:08,760 Speaker 1: this along, every penny of this eighteenth cent reduction to 36 00:02:08,800 --> 00:02:11,760 Speaker 1: the consumers. Okay, so let's see if that happens. As 37 00:02:11,760 --> 00:02:14,520 Speaker 1: an important meeting tomorrow at the White House, the heads 38 00:02:14,639 --> 00:02:18,200 Speaker 1: of the major oil companies will be asked, urged, prodded. 39 00:02:18,280 --> 00:02:24,320 Speaker 1: I don't know how you describe this to start increasing production. Now, 40 00:02:24,360 --> 00:02:27,280 Speaker 1: as I mentioned, that's one side of Pennsylvania Avenue. On 41 00:02:27,360 --> 00:02:31,119 Speaker 1: the other, J Powell, the FED share taking tough questions 42 00:02:31,160 --> 00:02:35,560 Speaker 1: in a Senate committee about, of course, his plan to 43 00:02:36,160 --> 00:02:38,920 Speaker 1: rein in inflation. And the big question is can you 44 00:02:39,000 --> 00:02:41,280 Speaker 1: do that without causing a recession? Do you agree, with 45 00:02:41,320 --> 00:02:44,240 Speaker 1: the respect of the if interest rates go too high, 46 00:02:44,280 --> 00:02:47,120 Speaker 1: too fast, it could drive us into a recession. It's 47 00:02:47,160 --> 00:02:50,919 Speaker 1: certainly a possibility. It's not our intended outcome at all, 48 00:02:50,960 --> 00:02:53,799 Speaker 1: but it's certainly a possibility. And and frankly, the events 49 00:02:53,800 --> 00:02:58,400 Speaker 1: of the last few months around the world have have 50 00:02:58,400 --> 00:03:00,800 Speaker 1: have made it more difficult for us to achieve what 51 00:03:00,840 --> 00:03:03,480 Speaker 1: we want, which is two percent inflation and still a 52 00:03:03,520 --> 00:03:07,520 Speaker 1: strong labor market. That was John Tester, by the way, 53 00:03:07,520 --> 00:03:10,760 Speaker 1: senator from Montana, asking the question, So we want to 54 00:03:10,760 --> 00:03:14,440 Speaker 1: bring in Mike McKee for more on this, Bloomberg International 55 00:03:14,480 --> 00:03:18,640 Speaker 1: Economics and Policy correspondent. It's great to have you back, Mike. Welcome, 56 00:03:18,960 --> 00:03:24,079 Speaker 1: Thanks Joe. Did J Powell just predict a recession as 57 00:03:24,120 --> 00:03:26,120 Speaker 1: close as you can get If you're the chairman of 58 00:03:26,120 --> 00:03:27,960 Speaker 1: the FED, you can't really admit that there's going to 59 00:03:28,000 --> 00:03:31,160 Speaker 1: be a recession? Because imagine what would happen in the 60 00:03:31,160 --> 00:03:33,240 Speaker 1: markets if he said something like that. Would be like 61 00:03:33,280 --> 00:03:35,640 Speaker 1: the skipper of a baseball team coming out and saying 62 00:03:35,800 --> 00:03:39,119 Speaker 1: we're gonna lose every game, but hey, come watch anyway. 63 00:03:39,280 --> 00:03:42,200 Speaker 1: So so yeah, he had he admitted the truth that 64 00:03:42,280 --> 00:03:45,320 Speaker 1: it's going to be very difficult to stick the soft landing, 65 00:03:45,440 --> 00:03:48,960 Speaker 1: as it were, and most economists are predicting that we 66 00:03:49,000 --> 00:03:52,480 Speaker 1: will have a downturn. Some think it will be very mild, 67 00:03:52,840 --> 00:03:56,200 Speaker 1: some think it will not be. But the history shows 68 00:03:56,280 --> 00:03:59,920 Speaker 1: that when the Fed starts tightening significantly, that's going to 69 00:04:00,160 --> 00:04:02,080 Speaker 1: the cases you're gonna end up with a recession. And 70 00:04:02,120 --> 00:04:03,840 Speaker 1: the problem here is that there's so much the Fed 71 00:04:03,920 --> 00:04:06,280 Speaker 1: can't do anything about. So you can't really bring down 72 00:04:06,280 --> 00:04:09,760 Speaker 1: gasoline prices unless they really crushed demand, which set you 73 00:04:09,840 --> 00:04:12,800 Speaker 1: up for a recession. All right. So that's where Elizabeth 74 00:04:12,800 --> 00:04:16,440 Speaker 1: Warren came in today asking very similar questions to what 75 00:04:16,480 --> 00:04:19,400 Speaker 1: we've been asking here on the broadcast. And I'm pretty 76 00:04:19,440 --> 00:04:22,200 Speaker 1: sure you asked J Powell himself in the news conference 77 00:04:22,240 --> 00:04:26,080 Speaker 1: following the meeting last week. If you cannot fix food 78 00:04:26,120 --> 00:04:28,599 Speaker 1: prices and oil prices, then what exactly is the point 79 00:04:28,600 --> 00:04:32,080 Speaker 1: of this exercise? Here's Warren and Powell. Well, gas prices 80 00:04:32,120 --> 00:04:34,560 Speaker 1: go down as a result of your interest rate increase. 81 00:04:35,279 --> 00:04:37,560 Speaker 1: I would not think so. Now, Well, the Fed's interest 82 00:04:37,680 --> 00:04:42,279 Speaker 1: rate increases bring food prices down for families, I wouldn't 83 00:04:42,279 --> 00:04:45,719 Speaker 1: say so now right now, the FED has no control 84 00:04:46,080 --> 00:04:49,160 Speaker 1: over the main drivers of rising prices. You know what's 85 00:04:49,200 --> 00:04:54,000 Speaker 1: worse than high inflation and low unemployment. It's high inflation 86 00:04:54,240 --> 00:04:57,279 Speaker 1: and a recession with millions of people out of work. 87 00:04:57,640 --> 00:05:00,680 Speaker 1: And I hope you'll reconsider that as you drive this 88 00:05:00,880 --> 00:05:03,440 Speaker 1: before you drive this economy off a cliff. So I 89 00:05:03,440 --> 00:05:06,080 Speaker 1: guess for starters, is she correct? And is this a 90 00:05:06,120 --> 00:05:09,440 Speaker 1: case secondly of who wants to tell her that's actually 91 00:05:09,440 --> 00:05:11,840 Speaker 1: what they're planning to do? Well, you notice it with 92 00:05:11,920 --> 00:05:15,640 Speaker 1: Warren tends to be a little more dramatic in public hearings, 93 00:05:15,960 --> 00:05:18,640 Speaker 1: and and and it's obvious that the FED doesn't have 94 00:05:18,680 --> 00:05:21,240 Speaker 1: control over gasoline and food prices, except, as I said, 95 00:05:21,320 --> 00:05:24,680 Speaker 1: if you really raise an interest rate high like Paul 96 00:05:24,720 --> 00:05:27,880 Speaker 1: Volker did, crush demand, you get a recession, and then 97 00:05:27,920 --> 00:05:30,719 Speaker 1: gasoline prices will come down because people won't be driving. 98 00:05:31,240 --> 00:05:33,719 Speaker 1: But it is a difficult situation that the FED is in, 99 00:05:34,040 --> 00:05:36,040 Speaker 1: and there are some people, and Warren seems to be 100 00:05:36,120 --> 00:05:39,320 Speaker 1: in that camp. Uh. Danny Blanche Flower, who is a 101 00:05:39,400 --> 00:05:42,520 Speaker 1: regular on BLUEBIRG radio and television, is a professor at 102 00:05:42,560 --> 00:05:46,960 Speaker 1: Dartmouth College. Um has argued that we are in or 103 00:05:47,080 --> 00:05:49,320 Speaker 1: very close to recession, and the FED should be thinking 104 00:05:49,360 --> 00:05:51,839 Speaker 1: about cutting rates because of that, because by the time 105 00:05:51,839 --> 00:05:54,360 Speaker 1: it becomes obvious, it's too late. So there's a small 106 00:05:54,400 --> 00:05:58,479 Speaker 1: camp that argues there could be a recession, that the 107 00:05:58,520 --> 00:06:01,880 Speaker 1: Fed could go too far and that they should back 108 00:06:01,920 --> 00:06:06,880 Speaker 1: off from raising rates. But the Fed and the economists 109 00:06:06,880 --> 00:06:09,360 Speaker 1: are focused on the idea that inflation is high enough 110 00:06:09,400 --> 00:06:12,760 Speaker 1: that they need to keep going or it gets entrenched 111 00:06:13,279 --> 00:06:16,400 Speaker 1: in inflation expectations, and then it's very hard to eradicate 112 00:06:16,560 --> 00:06:20,679 Speaker 1: President Biden today announcing this suspension of the federal gas tacks. 113 00:06:21,000 --> 00:06:23,200 Speaker 1: How is he doing this when no one in Washington 114 00:06:23,320 --> 00:06:26,119 Speaker 1: seems to think that this is a good idea, well, 115 00:06:26,160 --> 00:06:29,919 Speaker 1: including Nancy Pelos I would say that there's nothing special 116 00:06:29,960 --> 00:06:32,520 Speaker 1: about Washington. No one around the country or around the 117 00:06:32,560 --> 00:06:36,600 Speaker 1: world thinks he needs Yeah, he needs Congress to pass it, 118 00:06:36,680 --> 00:06:40,200 Speaker 1: and Uh, Congress, from everything I understand, is not of 119 00:06:40,240 --> 00:06:42,800 Speaker 1: a mind to do that. And maybe he knows that, 120 00:06:42,880 --> 00:06:45,520 Speaker 1: and and and it's it's this is something you can 121 00:06:45,680 --> 00:06:49,880 Speaker 1: throw out free everything. We thought about it, and we 122 00:06:49,920 --> 00:06:53,160 Speaker 1: could have helped you. But any economists will tell you 123 00:06:53,240 --> 00:06:55,480 Speaker 1: if you subsidize something, people are going to buy more 124 00:06:55,480 --> 00:06:57,240 Speaker 1: of it. And if you could have people buy more 125 00:06:57,279 --> 00:06:59,920 Speaker 1: gasoline and you don't have more gasoline, which is our 126 00:07:00,000 --> 00:07:03,000 Speaker 1: situation now, then those people the price is going to 127 00:07:03,040 --> 00:07:07,400 Speaker 1: go up, not down. That will require significant demand destruction. 128 00:07:08,440 --> 00:07:11,480 Speaker 1: Wouldn't just keeping prices where they are caused that on 129 00:07:11,560 --> 00:07:13,920 Speaker 1: their own. Well, here's the other thing that people aren't 130 00:07:13,960 --> 00:07:16,960 Speaker 1: thinking about is trees don't grow to the sky. And 131 00:07:17,040 --> 00:07:20,080 Speaker 1: gasoline prices and oil prices have been going up, but 132 00:07:20,120 --> 00:07:23,080 Speaker 1: they're kind of topping out. I mean, we've had this 133 00:07:23,160 --> 00:07:27,559 Speaker 1: volatility down sharply, but they've been going up and down 134 00:07:27,600 --> 00:07:30,160 Speaker 1: in a certain range. And as long as on a 135 00:07:30,200 --> 00:07:34,080 Speaker 1: percentage basis, they aren't still rising above their previous highs, 136 00:07:34,080 --> 00:07:36,840 Speaker 1: then you're not going to have a percentage increase in 137 00:07:36,880 --> 00:07:43,240 Speaker 1: gasoline and oil prices. Uh So the inflationary aspect of it, 138 00:07:43,280 --> 00:07:46,679 Speaker 1: which inflation being a broad rise in the price level, 139 00:07:47,000 --> 00:07:49,440 Speaker 1: isn't going to be taking place, and so they sort 140 00:07:49,480 --> 00:07:53,200 Speaker 1: of fall out of the calculation just because oils at 141 00:07:53,480 --> 00:07:56,320 Speaker 1: one twenty or you're paying five dollars a gallon for gasoline. 142 00:07:56,320 --> 00:07:59,280 Speaker 1: If you don't get to six, then there's no more 143 00:07:59,320 --> 00:08:02,680 Speaker 1: inflation in gasoline prices. There are just high prices. Is 144 00:08:02,680 --> 00:08:05,720 Speaker 1: the trip to Saudi Arabia the closest thing this president 145 00:08:05,760 --> 00:08:09,120 Speaker 1: will find actually impacting the global price of oil? If 146 00:08:09,120 --> 00:08:12,120 Speaker 1: he gets the saudiast to pump more. Sure, if they 147 00:08:12,200 --> 00:08:15,280 Speaker 1: pump more, the global price of oil will go down. Now, 148 00:08:15,320 --> 00:08:18,800 Speaker 1: the question is does that show up in something that 149 00:08:18,960 --> 00:08:23,960 Speaker 1: the consumer cares about, because refinery capacities at like right 150 00:08:24,000 --> 00:08:27,280 Speaker 1: now and the rest are down for maintenance. So even 151 00:08:27,280 --> 00:08:30,200 Speaker 1: if you get more, you can't really produce more oil 152 00:08:30,320 --> 00:08:33,240 Speaker 1: given the situation, And none of the refiners want to 153 00:08:33,280 --> 00:08:37,480 Speaker 1: reopen mothballed refineries or build new ones because Joe Biden 154 00:08:37,640 --> 00:08:40,640 Speaker 1: says we're going to get rid of that gasolating powered cars. 155 00:08:40,960 --> 00:08:44,040 Speaker 1: So there's I mean, why make a billion dollar investment. 156 00:08:44,400 --> 00:08:46,000 Speaker 1: So at this point, yeah, he can bring down the 157 00:08:46,240 --> 00:08:48,160 Speaker 1: price of oil and that will help on the margins, 158 00:08:48,160 --> 00:08:50,760 Speaker 1: and it will help it makes the input costs to 159 00:08:50,840 --> 00:08:53,680 Speaker 1: refiners lower, so prices could go down a little bit, 160 00:08:54,080 --> 00:08:56,240 Speaker 1: but it isn't going to have the kind of impact 161 00:08:56,320 --> 00:09:02,160 Speaker 1: on the consumer that might help him tremendously politically. It 162 00:09:02,200 --> 00:09:04,760 Speaker 1: will help consumers a little bit because prices will go 163 00:09:04,800 --> 00:09:06,920 Speaker 1: down in businesses, we'll see input costs for things like 164 00:09:07,000 --> 00:09:09,840 Speaker 1: chemicals and raw materials. So the skeptic would say, this 165 00:09:09,920 --> 00:09:11,960 Speaker 1: is the big wind up to the trip. You do 166 00:09:12,000 --> 00:09:14,920 Speaker 1: what you can with the tax piece. You already released 167 00:09:14,960 --> 00:09:17,120 Speaker 1: a million of barrels a day from the from the 168 00:09:17,280 --> 00:09:20,520 Speaker 1: spr You have your meeting with executives on Thursday. Now 169 00:09:20,559 --> 00:09:22,240 Speaker 1: you're in the clear to do the real job, which 170 00:09:22,280 --> 00:09:25,800 Speaker 1: is to ask MBS to pump more. Yeah, and I 171 00:09:25,800 --> 00:09:27,800 Speaker 1: mean it'd be interesting to see how that goes over 172 00:09:27,880 --> 00:09:33,400 Speaker 1: given the crown prince's history, political history, and to see 173 00:09:33,800 --> 00:09:38,199 Speaker 1: if Biden gets more credit or more criticism for doing it. 174 00:09:38,280 --> 00:09:40,480 Speaker 1: But this is one of those situations where you go 175 00:09:40,520 --> 00:09:43,160 Speaker 1: back to the old saying that the countries have no friends, 176 00:09:43,240 --> 00:09:46,680 Speaker 1: they just have interests and um, it is very difficult 177 00:09:46,679 --> 00:09:49,400 Speaker 1: for presidents to do some of these things. But in 178 00:09:49,440 --> 00:09:52,360 Speaker 1: the interests of the American people, maybe Biden feels he 179 00:09:52,400 --> 00:09:55,959 Speaker 1: can swallow the US pride or whatever it is and 180 00:09:56,280 --> 00:09:58,640 Speaker 1: ask for more. This is why he used to host 181 00:09:58,720 --> 00:10:01,440 Speaker 1: his own political talk show, right here on Bloomberg not 182 00:10:01,520 --> 00:10:03,560 Speaker 1: only covering the FED, but you're the best at that too, 183 00:10:03,559 --> 00:10:05,680 Speaker 1: And that's why we always love spending some time with 184 00:10:05,720 --> 00:10:08,400 Speaker 1: Mike McKee, especially when you're in Washington. Thank you, Mike, 185 00:10:08,480 --> 00:10:11,880 Speaker 1: have a safe trip home to see Human Studio, much 186 00:10:11,920 --> 00:10:14,920 Speaker 1: like Rick Davis, Bloomberg Politics contributor, is with us in 187 00:10:14,960 --> 00:10:18,920 Speaker 1: Washington today as well. Uh Rick, I wanted to ask 188 00:10:18,960 --> 00:10:22,200 Speaker 1: you about this gas tax holiday specifically because when you 189 00:10:22,240 --> 00:10:24,320 Speaker 1: were running the McCain campaign in two thousand and eight, 190 00:10:24,320 --> 00:10:28,080 Speaker 1: did something that you had proposed then as well. The 191 00:10:28,120 --> 00:10:30,720 Speaker 1: reason for that, I can only assume, as we just discussed, 192 00:10:30,800 --> 00:10:33,400 Speaker 1: is to be seen doing something right at least we 193 00:10:33,480 --> 00:10:35,439 Speaker 1: tried everything we had. Was that. What was going through 194 00:10:35,480 --> 00:10:37,800 Speaker 1: your your heads at the time, Yeah, you gotta have 195 00:10:37,960 --> 00:10:40,040 Speaker 1: you gotta have something to give to the American people 196 00:10:40,040 --> 00:10:42,400 Speaker 1: who are suffering from you know, high gas prices. I mean, 197 00:10:42,440 --> 00:10:44,440 Speaker 1: you think about it. Back then, I think gas was like, 198 00:10:44,640 --> 00:10:48,240 Speaker 1: you know, three eight and oil was over a hundred 199 00:10:48,320 --> 00:10:51,280 Speaker 1: fourteen dollars a barrel, right, so like, and that was 200 00:10:51,320 --> 00:10:54,120 Speaker 1: in two thousand eight, So those dollars go a long 201 00:10:54,160 --> 00:10:56,360 Speaker 1: way today and and and so quite a bit higher 202 00:10:56,440 --> 00:10:58,599 Speaker 1: arguably than they are now exactly, and and and and 203 00:10:58,840 --> 00:11:00,760 Speaker 1: of course we're in a financial out down, you know, 204 00:11:00,800 --> 00:11:04,000 Speaker 1: across the board. So, uh, but we knew it was 205 00:11:04,040 --> 00:11:06,840 Speaker 1: bad policy, right, I mean, like taking nine billion dollars 206 00:11:06,840 --> 00:11:08,760 Speaker 1: it's ten billion now, but nine billion dollars out of 207 00:11:08,800 --> 00:11:11,160 Speaker 1: the Highway Trust Fund just to make people, you know, 208 00:11:11,200 --> 00:11:14,560 Speaker 1: give them eighteen cents or whatever the number was back 209 00:11:14,559 --> 00:11:18,360 Speaker 1: in in in two thousand eight, alleviation from the pump. 210 00:11:18,679 --> 00:11:20,960 Speaker 1: I mean, it's a gimmick. I mean, like we knew 211 00:11:21,000 --> 00:11:22,559 Speaker 1: it was a gimmick at the time. Right. One of 212 00:11:22,600 --> 00:11:24,360 Speaker 1: the other options we said, why don't we just give 213 00:11:24,400 --> 00:11:27,600 Speaker 1: him the money? Well, right, said it Jack, Yes, and 214 00:11:27,320 --> 00:11:29,200 Speaker 1: and and at least it's you're not have to worry 215 00:11:29,200 --> 00:11:31,160 Speaker 1: about the oil company's taking it exactly. You're you're a 216 00:11:31,160 --> 00:11:33,479 Speaker 1: little more earnest in the fact that you're just subsidizing 217 00:11:33,480 --> 00:11:36,400 Speaker 1: the American don't spend it on whatever they want. To 218 00:11:36,440 --> 00:11:38,240 Speaker 1: be clear, there's no support for this on either side 219 00:11:38,240 --> 00:11:41,760 Speaker 1: of the aisle on Capitol Hill nor today. It's today, 220 00:11:41,800 --> 00:11:43,679 Speaker 1: it's a it's seen as a gimmick. The reason the 221 00:11:43,720 --> 00:11:45,640 Speaker 1: President is doing it is so that he has something 222 00:11:45,679 --> 00:11:48,080 Speaker 1: to say to the American people, Well, we're gonna fold 223 00:11:48,120 --> 00:11:51,439 Speaker 1: in Genie Chanzano, our panel coming up next, and we'll 224 00:11:51,440 --> 00:11:53,320 Speaker 1: give you a sense of what they are saying on 225 00:11:53,440 --> 00:11:57,280 Speaker 1: Capitol Hill, both d's and rs as we try to 226 00:11:57,320 --> 00:11:59,520 Speaker 1: bring you both sides of this. Here the fastest hour 227 00:11:59,559 --> 00:12:02,000 Speaker 1: in Paula Tix rolls on will update markets and traffic 228 00:12:02,040 --> 00:12:04,400 Speaker 1: for you to so stay with us. I'm Joe Matthew 229 00:12:04,440 --> 00:12:14,640 Speaker 1: in Washington. This he is Bloomberg. This is Bloomberg sond 230 00:12:14,679 --> 00:12:21,240 Speaker 1: On with Joe Matthew on Bloomberg Radio. How speaker Nancy 231 00:12:21,240 --> 00:12:24,680 Speaker 1: Pelosi called it show biz, reminding us of when Barack 232 00:12:24,679 --> 00:12:27,760 Speaker 1: Obama called the gas tax holiday a gimmick back in 233 00:12:27,800 --> 00:12:31,440 Speaker 1: two thousand eight. But listen to how Joe Mansion reacted 234 00:12:31,480 --> 00:12:34,360 Speaker 1: to this idea today. The Senator from West Virginia was 235 00:12:34,400 --> 00:12:37,679 Speaker 1: asked about it by a b C News. Which politician 236 00:12:37,760 --> 00:12:39,280 Speaker 1: up here is going to be voting to put that 237 00:12:39,440 --> 00:12:43,520 Speaker 1: eighteen cent tax back on a month before the November election. 238 00:12:44,480 --> 00:12:47,480 Speaker 1: So we just dig the whole deeper and deeper and deeper. 239 00:12:47,559 --> 00:12:50,320 Speaker 1: The timing is tough. Let's assemble the panel for more 240 00:12:50,320 --> 00:12:54,560 Speaker 1: on all of this. Bloomberg Politics contributors Genie Chanzano and 241 00:12:54,640 --> 00:12:57,679 Speaker 1: Rick Davis with us for the hour. Genie, we need 242 00:12:57,720 --> 00:13:01,240 Speaker 1: to hear your voice here as the Democrats are apparently 243 00:13:01,520 --> 00:13:04,200 Speaker 1: as opposed to this as a lot of Republicans on 244 00:13:04,320 --> 00:13:07,359 Speaker 1: Capitol Hill. What's the motivation here at the White House today? 245 00:13:07,600 --> 00:13:09,600 Speaker 1: You know, I think the motivation is they're trying to 246 00:13:09,640 --> 00:13:12,079 Speaker 1: show that they're using all the tools and their tool belt, 247 00:13:12,120 --> 00:13:14,360 Speaker 1: even if they you know, uh, and I say tools 248 00:13:14,360 --> 00:13:16,079 Speaker 1: and their tool but they really don't have this one, 249 00:13:16,160 --> 00:13:18,000 Speaker 1: but you know, just to show that they are trying 250 00:13:18,040 --> 00:13:21,000 Speaker 1: to do what they can to push through anything. I 251 00:13:21,040 --> 00:13:23,960 Speaker 1: think the danger here is number one, not just the 252 00:13:24,000 --> 00:13:26,400 Speaker 1: fact Congress probably won't pass it and it may not 253 00:13:26,440 --> 00:13:30,640 Speaker 1: get passed on to consumers, but this focus, uh, the 254 00:13:30,679 --> 00:13:33,960 Speaker 1: president has doesn't seem to be sustained on addressing the 255 00:13:34,080 --> 00:13:37,480 Speaker 1: energy problem. There's these one off policies like one hit, 256 00:13:37,559 --> 00:13:40,520 Speaker 1: wonders one day, this one day that, and that's a 257 00:13:40,600 --> 00:13:44,880 Speaker 1: problem for him politically, and I think many people, particularly 258 00:13:44,920 --> 00:13:48,160 Speaker 1: on the left, are asking themselves, you know, essentially, who 259 00:13:48,320 --> 00:13:51,560 Speaker 1: is Joe Biden. He could have used the challenge in 260 00:13:52,000 --> 00:13:55,920 Speaker 1: Ukraine and the challenge with prices to push for renewables. 261 00:13:55,960 --> 00:13:57,760 Speaker 1: You know, the old saying, don't let a good crisis 262 00:13:57,800 --> 00:14:01,400 Speaker 1: go to waste. Why hasn't he pushed for something that 263 00:14:01,559 --> 00:14:05,360 Speaker 1: people on the Democratic side believe in. This is not it, 264 00:14:05,600 --> 00:14:07,880 Speaker 1: and he's going to talk about it. It won't get through, 265 00:14:08,000 --> 00:14:10,400 Speaker 1: and I fear politically it does him. You know, I 266 00:14:10,400 --> 00:14:12,199 Speaker 1: don't think it doesn't much damage, but I don't think 267 00:14:12,200 --> 00:14:14,480 Speaker 1: it doesn't much good either. Wouldn't bring down the price 268 00:14:14,520 --> 00:14:17,080 Speaker 1: of gas now, though, Rick, which is what the White 269 00:14:17,120 --> 00:14:19,600 Speaker 1: House needs. Yeah, and they need a summer of driving 270 00:14:19,920 --> 00:14:23,440 Speaker 1: that has some relief to the consumer. And and the 271 00:14:23,480 --> 00:14:27,840 Speaker 1: reality is, but between congressional recesses coming up and the 272 00:14:27,880 --> 00:14:30,320 Speaker 1: inability to get something like this pass, I mean, they're 273 00:14:30,360 --> 00:14:32,200 Speaker 1: just never going to see any kind of relief. So 274 00:14:32,720 --> 00:14:34,760 Speaker 1: people are gonna hit the road for their summer vacations, 275 00:14:34,760 --> 00:14:36,320 Speaker 1: packed the kids and the dogs in the car, and 276 00:14:36,360 --> 00:14:39,280 Speaker 1: they're gonna pay full price at the pump. Reaction from 277 00:14:39,320 --> 00:14:43,640 Speaker 1: Republicans today in the Senate Senator John Thune, what the administration, 278 00:14:43,680 --> 00:14:46,080 Speaker 1: of course is coming up with is yet another gimmick, 279 00:14:46,640 --> 00:14:50,520 Speaker 1: another band aid, and something they know is dead on 280 00:14:50,640 --> 00:14:53,800 Speaker 1: arrival up here in Congress, which apparently everyone agrees with. 281 00:14:54,000 --> 00:14:57,160 Speaker 1: I Look, things could change, I guess Senator John Barrasso 282 00:14:57,680 --> 00:15:00,160 Speaker 1: had a bit more poetry to spend. Joe Biden, the 283 00:15:00,240 --> 00:15:05,320 Speaker 1: president of painfully high prices, is throwing another desperate Hail 284 00:15:05,400 --> 00:15:10,120 Speaker 1: Mary pass. It's the so called gas tax holiday. The 285 00:15:10,160 --> 00:15:12,760 Speaker 1: holiday the American people need is a holiday from Joe 286 00:15:12,800 --> 00:15:16,360 Speaker 1: Biden's terrible energy policies. My god, Genie, did he just 287 00:15:16,440 --> 00:15:18,760 Speaker 1: make it worse. The President was supposed to give people 288 00:15:18,800 --> 00:15:21,600 Speaker 1: something good to talk about. Yeah, he was, And this 289 00:15:21,680 --> 00:15:23,880 Speaker 1: again is the fear. And I think this is what 290 00:15:23,920 --> 00:15:27,560 Speaker 1: we've seen with the Biden presidency. He hasn't been able 291 00:15:27,600 --> 00:15:30,320 Speaker 1: to show the American public who he is, in part 292 00:15:30,400 --> 00:15:33,680 Speaker 1: because the constituency he ran on was trying to stitch 293 00:15:33,680 --> 00:15:37,040 Speaker 1: together these progressives and these moderates, and I don't think 294 00:15:37,080 --> 00:15:39,680 Speaker 1: he's gotten to express who he really is. And again, 295 00:15:39,960 --> 00:15:43,000 Speaker 1: if he's committed to renewables, if he's committed to a 296 00:15:43,080 --> 00:15:47,280 Speaker 1: long term solution, it may not immediately bring down gas prices, 297 00:15:47,320 --> 00:15:50,800 Speaker 1: but at least it would be an authentic version. If 298 00:15:50,840 --> 00:15:53,120 Speaker 1: that is what it is of who he is and 299 00:15:53,160 --> 00:15:56,560 Speaker 1: who the administration is. This is a losing proposition. And 300 00:15:56,800 --> 00:15:59,320 Speaker 1: you know, my question has been why take the time 301 00:15:59,360 --> 00:16:02,000 Speaker 1: in the days to think about this. He comes on 302 00:16:02,040 --> 00:16:04,320 Speaker 1: board and says this today, by my account, we have 303 00:16:04,400 --> 00:16:07,480 Speaker 1: no more congressmen or women supporting it than we did 304 00:16:07,520 --> 00:16:10,640 Speaker 1: certainly not mention and by the way, no more states 305 00:16:10,640 --> 00:16:12,680 Speaker 1: saying they would go along with it at this point 306 00:16:12,680 --> 00:16:15,480 Speaker 1: other than the nineteen And if you don't get the states, 307 00:16:15,720 --> 00:16:18,960 Speaker 1: the consumers don't feel that what's really supposed to be 308 00:16:19,040 --> 00:16:21,600 Speaker 1: felt here. So I'm not sure why they took the 309 00:16:21,680 --> 00:16:24,920 Speaker 1: time if they didn't bring people along. Today he dumps 310 00:16:24,960 --> 00:16:27,360 Speaker 1: this and we don't see more support for it in 311 00:16:27,440 --> 00:16:31,280 Speaker 1: Congress or the states. Strike you as just a strange decision, Rick, 312 00:16:31,600 --> 00:16:33,360 Speaker 1: Or is the point just to get the get the 313 00:16:33,400 --> 00:16:36,160 Speaker 1: sound cut on the air? President's given you wants at 314 00:16:36,240 --> 00:16:39,720 Speaker 1: least a gas tax holiday, uh? As opposed to you know, 315 00:16:40,040 --> 00:16:43,960 Speaker 1: spending time whipping votes trying to get a coalition together here. 316 00:16:44,240 --> 00:16:46,400 Speaker 1: Sure you could, you could make the argument that he's 317 00:16:46,440 --> 00:16:49,200 Speaker 1: just trying to put Congress on the defense. Right, Oh, 318 00:16:49,320 --> 00:16:51,440 Speaker 1: I wanted to give you there gas tack holiday. But 319 00:16:51,680 --> 00:16:54,400 Speaker 1: the problem is half of those are his guys. I mean, 320 00:16:54,440 --> 00:16:56,720 Speaker 1: half of those are Democrats. And what are they going 321 00:16:56,760 --> 00:16:58,920 Speaker 1: to say about this? I mean, you've heard Joe Manchin 322 00:16:59,160 --> 00:17:00,840 Speaker 1: is just a gimmick. The as a joke, It's not 323 00:17:00,880 --> 00:17:03,720 Speaker 1: gonna happen then on arrival. I mean, but like he's 324 00:17:03,760 --> 00:17:06,720 Speaker 1: putting his own party who's on the ballot. He's not 325 00:17:06,800 --> 00:17:10,080 Speaker 1: on the ballot in in six months, his party is, 326 00:17:10,160 --> 00:17:12,639 Speaker 1: and his party's got to go and explain why this 327 00:17:12,680 --> 00:17:16,080 Speaker 1: administration isn't doing much to alleviate their pain at the pump. 328 00:17:16,080 --> 00:17:18,680 Speaker 1: And and so I I really think it's a mistake. 329 00:17:18,720 --> 00:17:21,679 Speaker 1: I mean, he also got caught today in a you know, 330 00:17:21,760 --> 00:17:23,879 Speaker 1: sort of an effort to try and pick on the 331 00:17:23,920 --> 00:17:27,720 Speaker 1: oil industry again, Like the CEO of of Chevron sent 332 00:17:27,760 --> 00:17:30,240 Speaker 1: a letter out saying, hey, quit picking on is just 333 00:17:30,400 --> 00:17:35,480 Speaker 1: in skin. But it's all these permits to drill, you 334 00:17:35,520 --> 00:17:38,040 Speaker 1: should be drilling. I mean, like it's not helpful in 335 00:17:38,080 --> 00:17:41,080 Speaker 1: this conversation to keep bringing up things that actually aren't 336 00:17:41,080 --> 00:17:43,200 Speaker 1: gonna make any difference. You know, we started this hour 337 00:17:43,320 --> 00:17:45,600 Speaker 1: talking about J. Powell today his testimony. You had a 338 00:17:45,600 --> 00:17:48,679 Speaker 1: recession to all of this, which might actually be the 339 00:17:48,720 --> 00:17:52,040 Speaker 1: only way they can get rid of the inflation problem 340 00:17:52,119 --> 00:17:54,800 Speaker 1: right now. And boy, I don't know what kind of 341 00:17:54,800 --> 00:17:57,600 Speaker 1: a final chapter we can write here to make it 342 00:17:57,640 --> 00:18:01,240 Speaker 1: more depressing. But does President Biden need to start preparing 343 00:18:01,280 --> 00:18:03,160 Speaker 1: people for that or is that just not the job 344 00:18:03,200 --> 00:18:04,800 Speaker 1: of the commander in chief. He has to talk up 345 00:18:04,840 --> 00:18:07,760 Speaker 1: the economy when in public. Yeah, I guess he could 346 00:18:07,760 --> 00:18:10,359 Speaker 1: just rely on Powell to do it for him, as 347 00:18:10,400 --> 00:18:13,080 Speaker 1: he did today. And you know it's speaking of you know, 348 00:18:13,240 --> 00:18:16,240 Speaker 1: not much of an affinity between the two um to 349 00:18:16,359 --> 00:18:18,960 Speaker 1: my mind. You know, when Powell was asked if inflation 350 00:18:19,040 --> 00:18:21,280 Speaker 1: was high, you know, in terms of the war, if 351 00:18:21,400 --> 00:18:24,919 Speaker 1: you know this putin price hike, is has any you know, realistic, 352 00:18:24,960 --> 00:18:27,400 Speaker 1: if there's any truth to that, he basically sold Joe 353 00:18:27,440 --> 00:18:30,160 Speaker 1: Biden down the river, saying nope, no truth to Daday either. 354 00:18:30,320 --> 00:18:33,760 Speaker 1: So bad news or Biden all around. Today. What a day. 355 00:18:33,920 --> 00:18:36,480 Speaker 1: We're only halfway through the hour, Genie, Thank you. Rick 356 00:18:36,560 --> 00:18:39,920 Speaker 1: Davis will be back as we turned to primary night 357 00:18:41,160 --> 00:18:45,280 Speaker 1: and we'll run through the results with Bloomberg Elections reporter 358 00:18:45,359 --> 00:18:49,640 Speaker 1: Greg Jarrow. Very interesting turnout in Georgia and not good 359 00:18:49,680 --> 00:18:52,520 Speaker 1: for Donald Trump left. More on that next, This is Bloomberg. 360 00:18:54,280 --> 00:18:58,399 Speaker 1: Remember when Moe Brooks was calling himself Maga Mo American 361 00:18:58,480 --> 00:19:04,159 Speaker 1: Patriots start taking down names and kicking ass. Yeah, that 362 00:19:04,320 --> 00:19:10,640 Speaker 1: was on January six. Mo Brooks, the Trump loyalists indeed 363 00:19:10,720 --> 00:19:14,560 Speaker 1: spoke at the rally on the ellipse when he urged 364 00:19:14,600 --> 00:19:18,160 Speaker 1: the crowd to start taking down names. American patriots start 365 00:19:18,240 --> 00:19:21,399 Speaker 1: taking down names and taking as well. He went a 366 00:19:21,400 --> 00:19:23,760 Speaker 1: lot further than that at that rally. If you listen 367 00:19:23,760 --> 00:19:28,240 Speaker 1: to our ancestors sacrifice their blood, their sweat, their tears, 368 00:19:28,280 --> 00:19:31,960 Speaker 1: their fortunes, and sometimes their lives to give us their 369 00:19:32,040 --> 00:19:35,800 Speaker 1: descendants in America, that is the greatest nation in world history. 370 00:19:36,200 --> 00:19:41,040 Speaker 1: So I have a question for you. Are you willing 371 00:19:41,119 --> 00:19:48,960 Speaker 1: to do the same? My answer is yes, Louder, are 372 00:19:49,040 --> 00:19:52,679 Speaker 1: you willing to do what it takes to fight for America? 373 00:19:53,080 --> 00:19:56,119 Speaker 1: Just hours before the attack on the capitol of your louder, 374 00:19:56,359 --> 00:20:00,919 Speaker 1: will you fight for America? Now, imagine a world in 375 00:20:00,960 --> 00:20:07,080 Speaker 1: which Trump endorsed someone else. Yeah, this was the Trump 376 00:20:07,240 --> 00:20:10,800 Speaker 1: loyalist Maga Mo. But when things weren't going great in 377 00:20:10,880 --> 00:20:15,280 Speaker 1: his campaign for Senate in Alabama, Donald Trump rescinded his 378 00:20:15,400 --> 00:20:19,360 Speaker 1: endorsement and gave it to Katie Britt And she won 379 00:20:19,400 --> 00:20:22,760 Speaker 1: by a lot last night. So that's a score for Trump. 380 00:20:23,359 --> 00:20:27,480 Speaker 1: It didn't go quite so well for Trump and Georgia. 381 00:20:27,480 --> 00:20:30,679 Speaker 1: As we bring in Bloomberg's Gregg Jarrow, it's kind of 382 00:20:30,680 --> 00:20:33,280 Speaker 1: like the day after Christmas when Gregg comes over the house. 383 00:20:33,320 --> 00:20:36,680 Speaker 1: We do this every Wednesday, almost Greg, Thanks for being here, 384 00:20:37,080 --> 00:20:39,320 Speaker 1: welcome back. I'd like to ask you about a couple 385 00:20:39,359 --> 00:20:42,879 Speaker 1: of these, starting with Alabama that wasn't just a loss, 386 00:20:42,920 --> 00:20:45,800 Speaker 1: that was a wipeout for Mo Brooks. Yeah, Mo Brooks 387 00:20:45,800 --> 00:20:49,840 Speaker 1: lost by more than points to Katie Britt. And yes, 388 00:20:49,960 --> 00:20:53,320 Speaker 1: Donald Trump did initially endorsed Moe Brooks and then Mo 389 00:20:53,520 --> 00:20:56,920 Speaker 1: Brooks last August told a crowd at a Trump rally 390 00:20:57,000 --> 00:20:59,960 Speaker 1: they should move on from the election and that didn't 391 00:21:00,160 --> 00:21:03,119 Speaker 1: sit well crowd, but Trump did. But Trump did not 392 00:21:03,160 --> 00:21:06,840 Speaker 1: rescind his endorsement of Brooks until March, seven months later, 393 00:21:06,920 --> 00:21:09,840 Speaker 1: when it was clear that Brooks was fading in the polls, 394 00:21:09,920 --> 00:21:14,000 Speaker 1: and actually after Trump resented his endorsement, Brooks qualified for 395 00:21:14,040 --> 00:21:17,240 Speaker 1: the runoff, and then Trump endorsed Katie Britt eleven days 396 00:21:17,280 --> 00:21:19,160 Speaker 1: before the runoff when it was clear She's going to win. 397 00:21:19,280 --> 00:21:21,760 Speaker 1: So Trump and his team are very mindful of his 398 00:21:21,800 --> 00:21:26,119 Speaker 1: win loss record and endorsements endorsements in primaries, and Katie 399 00:21:26,119 --> 00:21:28,280 Speaker 1: Britt would have won without Trump's backing for sure. I'm 400 00:21:28,320 --> 00:21:30,040 Speaker 1: glad you pointed that out. By the way, that this 401 00:21:30,080 --> 00:21:32,760 Speaker 1: was less than two weeks before the primary or this 402 00:21:32,840 --> 00:21:37,480 Speaker 1: final runoff here that Donald Trump actually endorsed Katie Britt. 403 00:21:37,760 --> 00:21:40,840 Speaker 1: That's despite, by the way, my goodness, those who still 404 00:21:41,400 --> 00:21:45,879 Speaker 1: supported Moe Brooks, Marjorie Taylor Green. Uh, it was Hannish, 405 00:21:45,880 --> 00:21:47,720 Speaker 1: Sean Hannity, a lot of folks who would normally be 406 00:21:47,760 --> 00:21:52,440 Speaker 1: in line with Donald Trump, remembering January six. I mean, 407 00:21:52,480 --> 00:21:54,840 Speaker 1: what an evolution, Greg, How do we explain it other 408 00:21:54,880 --> 00:21:59,480 Speaker 1: than the influence of Trump. Yeah, Well, Brooks as um, 409 00:21:59,560 --> 00:22:02,280 Speaker 1: Brooks never been a great state wide candy actually ran 410 00:22:02,320 --> 00:22:06,200 Speaker 1: for the Senate before. Remember our listeners, remember that seventeen 411 00:22:06,600 --> 00:22:10,240 Speaker 1: special Senate election after Jeff Sessions resigned to become Trump's 412 00:22:10,240 --> 00:22:13,000 Speaker 1: first Attorney General. There was a special sent election held 413 00:22:13,040 --> 00:22:15,520 Speaker 1: and Mo Brooks ran for that Senate seat and finished 414 00:22:15,760 --> 00:22:19,000 Speaker 1: a distant third behind Curtis I'm sorry, Luther Strange and 415 00:22:19,160 --> 00:22:22,200 Speaker 1: um Roy Moore remember him, and uh, um so he's 416 00:22:22,440 --> 00:22:25,199 Speaker 1: Mo Brooks has never been a strong statewide candidate. His 417 00:22:25,400 --> 00:22:28,199 Speaker 1: appeal has always been kind of sectional to his to 418 00:22:28,320 --> 00:22:31,639 Speaker 1: his part of northern Alabama. And um, the you know, 419 00:22:31,760 --> 00:22:35,879 Speaker 1: certainly the quote unquote establishment led by you know, Richard Shelby, 420 00:22:36,040 --> 00:22:39,160 Speaker 1: Chamber of Commerce, some other allied Republican groups made clear 421 00:22:39,160 --> 00:22:41,639 Speaker 1: that they were going in all in for Katie Britt 422 00:22:41,640 --> 00:22:43,760 Speaker 1: over Mo Brooks. We should not that Katie Britt worked 423 00:22:43,760 --> 00:22:48,120 Speaker 1: for Shelby, was his chief of staff. Uh in Georgia. Meantime, Uh, 424 00:22:48,200 --> 00:22:51,840 Speaker 1: not good for Donald Trump. I mean this has just 425 00:22:51,920 --> 00:22:55,240 Speaker 1: been one after the other here both of his endorsed 426 00:22:55,240 --> 00:22:58,639 Speaker 1: congressional candidates lost. Did you see that coming? Was that 427 00:22:58,760 --> 00:23:00,919 Speaker 1: in the cards? Yes? I thought that both of them 428 00:23:00,920 --> 00:23:03,880 Speaker 1: would lose, maybe not by the overwhelming margins by which 429 00:23:03,920 --> 00:23:07,800 Speaker 1: they lost. So, Jake Evans was Trump's back candidate in 430 00:23:07,920 --> 00:23:11,359 Speaker 1: a suburban Atlanta district that's open. He lost by a 431 00:23:11,400 --> 00:23:14,600 Speaker 1: two to one margin to a surgeon named Rich McCormick, 432 00:23:14,640 --> 00:23:17,199 Speaker 1: who um is still a very pro Trump candidate, and 433 00:23:17,200 --> 00:23:19,879 Speaker 1: even in the tenth district. The other one, Vernon Jones, 434 00:23:19,960 --> 00:23:23,879 Speaker 1: a former Democratic state representative who ran for Congress as 435 00:23:23,880 --> 00:23:27,600 Speaker 1: a Republican UM. Basically, he won Trump's endorsement because he 436 00:23:27,640 --> 00:23:29,760 Speaker 1: decided not to run for governor because that would have 437 00:23:29,960 --> 00:23:33,200 Speaker 1: siphoned votes away from David Purdue, who Trump endorsed against 438 00:23:33,200 --> 00:23:36,720 Speaker 1: Brian Brian Kemp. Vernon Jones only got about a quarter 439 00:23:36,760 --> 00:23:39,479 Speaker 1: of the vote there. He lost overwhelmingly to a trucking 440 00:23:39,480 --> 00:23:42,320 Speaker 1: company executive named Mike Collins, who, even though he didn't 441 00:23:42,320 --> 00:23:46,320 Speaker 1: have Trump's endorsements, said he was quote unapologetically pro Trump. 442 00:23:46,359 --> 00:23:50,960 Speaker 1: So even Trump's endorsed candidates. When when when Trump's endorsed 443 00:23:51,000 --> 00:23:55,359 Speaker 1: candidates don't win, pro Trump candidates are winning. It's incredible 444 00:23:55,400 --> 00:23:58,600 Speaker 1: Collins was endorsed by Governor Brian Kemp, right just to 445 00:23:58,680 --> 00:24:01,160 Speaker 1: rub a little bit assault in the wound. Who was yeah, 446 00:24:01,280 --> 00:24:04,639 Speaker 1: quite a quite another proxy fight, and Trump was I 447 00:24:04,680 --> 00:24:07,919 Speaker 1: think looking for a uh you know, a face saving 448 00:24:08,000 --> 00:24:11,560 Speaker 1: win after his resoundingly unsuccessful efforts to ou It's not 449 00:24:11,640 --> 00:24:14,800 Speaker 1: only Brian Kemp in the primary, which failed overwhelmingly, but 450 00:24:14,880 --> 00:24:17,880 Speaker 1: also the Attorney General of Georgia and of course Secretary 451 00:24:17,920 --> 00:24:20,960 Speaker 1: of State Brad Raefensberger, who won his primary over a 452 00:24:20,960 --> 00:24:23,879 Speaker 1: trumped back to congressman on the same day he was 453 00:24:23,920 --> 00:24:28,280 Speaker 1: testifying before the January six committee. Uh that Vernon Jones 454 00:24:28,359 --> 00:24:31,560 Speaker 1: Mike Collins race got pretty ugly, Greg that we I 455 00:24:31,600 --> 00:24:34,480 Speaker 1: was reading reports of Collins was was actually sending out 456 00:24:34,560 --> 00:24:37,840 Speaker 1: rape whistles, uh to remind people that Vernon Jones have 457 00:24:37,920 --> 00:24:40,200 Speaker 1: been accused of sexual assaults. I mean, this got this 458 00:24:40,320 --> 00:24:43,040 Speaker 1: got pretty tough. It really did. I watched a debate 459 00:24:43,080 --> 00:24:46,160 Speaker 1: between the two candidates. While that issue didn't come up, um, 460 00:24:46,640 --> 00:24:50,200 Speaker 1: it certainly did um in in Mailer's and in other communications, 461 00:24:50,200 --> 00:24:55,440 Speaker 1: and it really got pretty bad um vernon Jones. Yeah, right, 462 00:24:55,680 --> 00:24:58,400 Speaker 1: a lot of really uh, you know, it's a really 463 00:24:58,400 --> 00:25:01,040 Speaker 1: really tough, nasty race, one of the one of the 464 00:25:01,080 --> 00:25:04,399 Speaker 1: toughest ones I've I've seen, certainly in Georgia politics in 465 00:25:04,520 --> 00:25:07,480 Speaker 1: some time. But yeah, Collins won that race overwhelmingly, And 466 00:25:07,520 --> 00:25:09,879 Speaker 1: even though he didn't have Trump's endorsement, He's still going 467 00:25:09,920 --> 00:25:13,320 Speaker 1: to be a strongly conservative Republican congressman who will promote 468 00:25:13,960 --> 00:25:18,320 Speaker 1: Trump's views. So the Trump endorsement is obviously not going 469 00:25:18,400 --> 00:25:20,679 Speaker 1: very far in Georgia. We get that when you factor 470 00:25:20,680 --> 00:25:24,640 Speaker 1: in results from North Carolina and South Carolina. The primaries 471 00:25:24,680 --> 00:25:29,240 Speaker 1: we've had so far for Trump backed House candidates have 472 00:25:29,400 --> 00:25:33,800 Speaker 1: now lost their primaries. When you step back, Greg, how's 473 00:25:33,840 --> 00:25:36,639 Speaker 1: the Trump brand doing overall? Is this? Is this a 474 00:25:36,720 --> 00:25:40,119 Speaker 1: mixed record at best? Yeah, mixed on even at best. 475 00:25:40,200 --> 00:25:42,399 Speaker 1: And it's kind of hard to gauge the power of 476 00:25:42,560 --> 00:25:45,960 Speaker 1: his endorsement how many votes that actually brings. UM. I mean, 477 00:25:45,960 --> 00:25:49,160 Speaker 1: typically his endorsements come in the form of press releases 478 00:25:49,200 --> 00:25:53,000 Speaker 1: and earned media. He doesn't do that many in person rallies. 479 00:25:53,040 --> 00:25:56,760 Speaker 1: It's pretty rare. Um and his superpack and his kind 480 00:25:56,800 --> 00:25:59,720 Speaker 1: of political apparatus, even though it's very flush with cash, 481 00:25:59,760 --> 00:26:02,440 Speaker 1: has really spent a lot of money, uh at all 482 00:26:03,000 --> 00:26:06,840 Speaker 1: against candidates the opposes, so um, you know, and like 483 00:26:06,920 --> 00:26:08,840 Speaker 1: I said, he likes to, you know, cherry picks some 484 00:26:08,920 --> 00:26:11,120 Speaker 1: of his endorsements when he really wants to use up 485 00:26:11,160 --> 00:26:14,760 Speaker 1: that win loss record. Greg Drel, Bloomberg's elections expert, Thanks 486 00:26:14,760 --> 00:26:16,920 Speaker 1: for coming over the house again. Maybe we'll do this 487 00:26:17,040 --> 00:26:19,680 Speaker 1: after the next primary. As we reassemble the panel. Next, 488 00:26:19,680 --> 00:26:21,119 Speaker 1: we want to hear from Rick and Genie on this 489 00:26:21,840 --> 00:26:28,600 Speaker 1: on sound On. This is Bloomberg, This is Bloomberg Sound 490 00:26:28,640 --> 00:26:35,000 Speaker 1: On with Joe Matthew on Bloomberg Radio. He did say 491 00:26:35,000 --> 00:26:37,600 Speaker 1: this today to political By the way, the aforementioned Moe 492 00:26:37,680 --> 00:26:42,160 Speaker 1: Brooks says he's retiring from politics. I think Rick Davis 493 00:26:42,160 --> 00:26:45,680 Speaker 1: said no, he was retired from politics. But in an 494 00:26:45,680 --> 00:26:51,320 Speaker 1: incredible evolution from the ellipse on January six, to see 495 00:26:51,400 --> 00:26:53,879 Speaker 1: him on Facebook last night standing and would appear to 496 00:26:53,880 --> 00:26:58,199 Speaker 1: be a cafeteria delivering a concession speech and can we 497 00:26:58,280 --> 00:27:02,600 Speaker 1: call it a concession speech. Well, I guess he did concede, 498 00:27:03,000 --> 00:27:05,240 Speaker 1: but he was not happy about it. We are sending 499 00:27:05,320 --> 00:27:08,359 Speaker 1: to Washington, DC, assuming that there's a victory from my 500 00:27:08,440 --> 00:27:11,800 Speaker 1: opponent in the general action. We are sitting to Washington, 501 00:27:11,880 --> 00:27:14,800 Speaker 1: d C. He's that opposite. And while we in the 502 00:27:14,880 --> 00:27:18,360 Speaker 1: United States Senate. But the voters have spoken. They might 503 00:27:18,400 --> 00:27:21,480 Speaker 1: not have spoken wisely. They may have been they may 504 00:27:21,480 --> 00:27:26,120 Speaker 1: have been seduced by brazingly false advertising, but nonetheless they 505 00:27:26,119 --> 00:27:30,600 Speaker 1: have spoken, and I respect their will. So they may 506 00:27:30,640 --> 00:27:35,240 Speaker 1: not have chosen wisely, Rick Davis, but I respect their will. 507 00:27:35,359 --> 00:27:39,080 Speaker 1: We're reassembling the panel. Rick is here, and Genie Chanzano. 508 00:27:39,240 --> 00:27:43,000 Speaker 1: You've been around Moe Brooks. You worked in Alabama politics. Uh, 509 00:27:43,200 --> 00:27:45,080 Speaker 1: you heard Greg ros say he was not a very 510 00:27:45,080 --> 00:27:48,159 Speaker 1: good statewide candidate. But it's it's in many ways the 511 00:27:48,200 --> 00:27:51,760 Speaker 1: story of betrayal. Well. Yeah, first of all, most people 512 00:27:51,760 --> 00:27:54,359 Speaker 1: in Alabama think anybody north the Huntsville is a Yankee, 513 00:27:54,720 --> 00:27:58,720 Speaker 1: so that is probably fundamentally his problem down state. Um, 514 00:27:58,760 --> 00:28:01,680 Speaker 1: but but yeah, I'm uh, you know, he was. He was. 515 00:28:01,800 --> 00:28:05,040 Speaker 1: He was an incredible story about being on the back 516 00:28:05,119 --> 00:28:07,840 Speaker 1: of the ellipse with the President United States and and 517 00:28:07,840 --> 00:28:11,680 Speaker 1: and and a confidante of a very world's most powerful 518 00:28:11,720 --> 00:28:14,760 Speaker 1: man to the point where you know, he's he's he's 519 00:28:14,800 --> 00:28:17,280 Speaker 1: basically telling in his concession speech the voters that they 520 00:28:17,280 --> 00:28:19,919 Speaker 1: didn't know what they were doing there. It's never a 521 00:28:20,040 --> 00:28:23,680 Speaker 1: very good way to say goodbye. Uh and Uh. But 522 00:28:23,680 --> 00:28:25,720 Speaker 1: but his career is over right, I mean by the 523 00:28:25,760 --> 00:28:28,600 Speaker 1: time Trump dumped him and then he gets beat two 524 00:28:28,640 --> 00:28:31,840 Speaker 1: to one. Uh, not even a close race. Uh, it's 525 00:28:31,960 --> 00:28:34,080 Speaker 1: it's it's pretty much curtains for him. And I think 526 00:28:34,080 --> 00:28:36,280 Speaker 1: he'll be He'll be a It's kind of a metaphor 527 00:28:36,320 --> 00:28:37,880 Speaker 1: for a lot of the people who are around Trump 528 00:28:37,960 --> 00:28:40,480 Speaker 1: at the time of January six, who have fallen out 529 00:28:40,480 --> 00:28:44,400 Speaker 1: of grace, both within the Republican Party and the legal system. 530 00:28:44,440 --> 00:28:48,400 Speaker 1: He congratulated the Democratic Party, Genie uh, suggesting that the 531 00:28:48,440 --> 00:28:52,760 Speaker 1: Alabama Democratic Party in fact got his rival elected, that 532 00:28:52,920 --> 00:28:55,920 Speaker 1: his opposition was the chair of the Democratic Party. You 533 00:28:55,920 --> 00:29:00,880 Speaker 1: know about that. I'm still reflecting on is quote unquote 534 00:29:00,920 --> 00:29:05,800 Speaker 1: concession speech last retirement, and I've got more. I love it. 535 00:29:06,000 --> 00:29:09,280 Speaker 1: You know, it's stunning to me that Alabama Republicans overlooked 536 00:29:09,320 --> 00:29:12,040 Speaker 1: him for Katie Britt at this point. Um, but you know, 537 00:29:12,400 --> 00:29:14,840 Speaker 1: I think this does speak to where the Republican Party 538 00:29:14,880 --> 00:29:18,400 Speaker 1: finds itself, and you know, Donald Trump endorsing her sort 539 00:29:18,440 --> 00:29:20,600 Speaker 1: of at the last minute. I totally agree with Greg 540 00:29:20,640 --> 00:29:23,400 Speaker 1: had very little to do with with obviously with her win, 541 00:29:23,680 --> 00:29:26,080 Speaker 1: you had most of the MAGA supporters, as you mentioned, 542 00:29:26,120 --> 00:29:29,320 Speaker 1: supporting Brooks and he got you know, about what Donald 543 00:29:29,360 --> 00:29:31,320 Speaker 1: Trump has been getting in a lot of these races, 544 00:29:31,360 --> 00:29:34,200 Speaker 1: which is, you know, between about five to thirty plus 545 00:29:34,240 --> 00:29:36,200 Speaker 1: or minus per cent. So I don't think he can 546 00:29:36,240 --> 00:29:39,440 Speaker 1: even blame Donald Trump on this one. Here is how 547 00:29:39,560 --> 00:29:44,560 Speaker 1: Moe Brooks put it last night. Congratulate the winners, and 548 00:29:44,640 --> 00:29:46,960 Speaker 1: some of these weirds might be a little bit unexpected. 549 00:29:47,680 --> 00:29:54,760 Speaker 1: But if I'd not congratulate the Alabama Democratic Party, you know, 550 00:29:54,800 --> 00:29:58,040 Speaker 1: it says congratulated the Democratic Party. Rick I realized it's 551 00:29:58,080 --> 00:30:00,640 Speaker 1: it's tongue in cheek. He's on his way out, but 552 00:30:00,760 --> 00:30:03,160 Speaker 1: it it is. It's a look. I guess the Trump 553 00:30:03,200 --> 00:30:06,840 Speaker 1: concession speech might have been uh even more bitter. I 554 00:30:06,840 --> 00:30:09,760 Speaker 1: guess there if if there's a measuring stick, well at 555 00:30:09,840 --> 00:30:12,400 Speaker 1: least he actually conceded. I mean, we're still waiting for 556 00:30:12,400 --> 00:30:16,240 Speaker 1: the Trump concessions. Katie Britts, forty years old, could be 557 00:30:16,280 --> 00:30:18,120 Speaker 1: the youngest woman in the Senate. Is this a slam 558 00:30:18,200 --> 00:30:20,640 Speaker 1: dunk from here? Oh? Yeah, slam dunk. I mean, first 559 00:30:20,640 --> 00:30:24,160 Speaker 1: of all, to congratulate the Democratic Party of Alabama would 560 00:30:24,160 --> 00:30:27,920 Speaker 1: be actually two people, Okay, so it's not a big group. 561 00:30:28,200 --> 00:30:30,600 Speaker 1: And and and yeah, Katie's a lock. I mean they're 562 00:30:30,600 --> 00:30:33,000 Speaker 1: gonna send her to the Senate. Uh. She actually has 563 00:30:33,000 --> 00:30:35,240 Speaker 1: a lot of great experience. I mean, probably a quarter 564 00:30:35,320 --> 00:30:39,160 Speaker 1: of the members of Congress and Senators are former staffers. 565 00:30:39,200 --> 00:30:42,720 Speaker 1: So this is not unusual to be inspired by a 566 00:30:42,760 --> 00:30:46,040 Speaker 1: boss like you know, Richard Shelby. Uh, and go back 567 00:30:46,080 --> 00:30:48,600 Speaker 1: and fill his shoes and show up knowing everybody. And 568 00:30:48,600 --> 00:30:50,880 Speaker 1: you show up knowing everybody and you know the system inside. Now, 569 00:30:50,920 --> 00:30:53,640 Speaker 1: so she'll she'll be a great contribution to the Republican 570 00:30:53,680 --> 00:30:56,160 Speaker 1: caucus and whether they're in the majority of the minority, 571 00:30:56,240 --> 00:30:58,560 Speaker 1: she'll she'll make herself useful to people of Alabama. What 572 00:30:58,600 --> 00:31:00,560 Speaker 1: do you guys make of these races in Georgia? I 573 00:31:00,560 --> 00:31:03,200 Speaker 1: mean Donald Trump just should probably stay out of Georgia. 574 00:31:03,320 --> 00:31:05,560 Speaker 1: Is that kind of the message here? His both of 575 00:31:05,640 --> 00:31:09,200 Speaker 1: his endorsed House candidates failed last night, and buy a 576 00:31:09,240 --> 00:31:11,600 Speaker 1: lot and Jennie, as we discussed with greg Or Row 577 00:31:11,760 --> 00:31:15,280 Speaker 1: that Vernon Jones Mike Collins race got really ugly and 578 00:31:15,320 --> 00:31:18,560 Speaker 1: a boy that the Trump endorsement did not help. No, 579 00:31:18,720 --> 00:31:21,000 Speaker 1: it didn't. You know, You've got to wonder what Donald 580 00:31:21,040 --> 00:31:24,160 Speaker 1: Trump is thinking about Georgia at this point. It has 581 00:31:24,200 --> 00:31:26,760 Speaker 1: been a disaster for him, and by the way, it's 582 00:31:26,760 --> 00:31:30,360 Speaker 1: a state that also may very well indict him um 583 00:31:30,480 --> 00:31:33,000 Speaker 1: for trying to steal their electoral votes. So if I 584 00:31:33,040 --> 00:31:35,360 Speaker 1: was Donald Trump, I'd stay out of there. But this 585 00:31:35,480 --> 00:31:38,800 Speaker 1: again was another big loser for Donald Trump. But you know, 586 00:31:38,880 --> 00:31:42,120 Speaker 1: I think we should be clear. You know, the Republicans, 587 00:31:42,360 --> 00:31:46,240 Speaker 1: they still say they like his policies. Their problem is 588 00:31:46,280 --> 00:31:48,840 Speaker 1: with his temperament, the way he comports himself. I don't 589 00:31:48,840 --> 00:31:51,920 Speaker 1: think the January six hearings have really had an impact yet. 590 00:31:51,960 --> 00:31:54,560 Speaker 1: I'm not sure if they will. But it does speak 591 00:31:54,600 --> 00:31:57,520 Speaker 1: to what we saw with Georgia voters in November, which 592 00:31:57,600 --> 00:32:00,120 Speaker 1: is that they like Republicans they put send them to 593 00:32:00,160 --> 00:32:04,360 Speaker 1: the Congress. They just don't like Donald Trump necessarily enough 594 00:32:04,400 --> 00:32:06,440 Speaker 1: to put him back in the White House. We're looking 595 00:32:06,480 --> 00:32:09,280 Speaker 1: for trends constantly here, Rick, and I know that sometimes 596 00:32:09,320 --> 00:32:13,160 Speaker 1: that's dangerous. It's what journalists do but when you do 597 00:32:13,400 --> 00:32:16,560 Speaker 1: uh factor in North and South Carolina, as I mentioned, 598 00:32:16,600 --> 00:32:19,320 Speaker 1: for Trump backed House candidates have now lost, is the 599 00:32:19,360 --> 00:32:23,640 Speaker 1: shine off at this point? Well, you know, sort of. 600 00:32:23,880 --> 00:32:26,800 Speaker 1: I do think Georgia is a good example of why 601 00:32:26,840 --> 00:32:29,800 Speaker 1: did Trump even bother endorsing anybody, because they're all the 602 00:32:29,880 --> 00:32:32,760 Speaker 1: candidates are for him. Yeah, he could have declared victory 603 00:32:32,800 --> 00:32:37,880 Speaker 1: with Mike Collins and Rich McCormick. Uh, they're both Trump type, absolutely, 604 00:32:37,960 --> 00:32:41,040 Speaker 1: and Mike Collins says the election was stolen, right and 605 00:32:41,040 --> 00:32:43,280 Speaker 1: we and we can go through a whole laundry list 606 00:32:43,320 --> 00:32:45,960 Speaker 1: of people he didn't indorse who will say the same thing. 607 00:32:46,480 --> 00:32:49,760 Speaker 1: So so I'm left scratching my head wondering, like, why 608 00:32:49,800 --> 00:32:51,920 Speaker 1: in the world who's telling him he's got to get 609 00:32:51,920 --> 00:32:55,480 Speaker 1: involved in these race to be relevant when what's relevant 610 00:32:55,480 --> 00:32:57,280 Speaker 1: is the fact that all these people on their own 611 00:32:57,320 --> 00:32:59,800 Speaker 1: are saying there for his brand of politics. What do 612 00:32:59,800 --> 00:33:01,600 Speaker 1: you think of that, Genie? This would feed the ego 613 00:33:01,680 --> 00:33:04,640 Speaker 1: either way? Why why make it formal? Yeah, you know, 614 00:33:04,720 --> 00:33:07,160 Speaker 1: that's always been the question. This is why former presidents 615 00:33:07,280 --> 00:33:09,600 Speaker 1: never endorse our party leaders, that they don't take a 616 00:33:09,680 --> 00:33:12,360 Speaker 1: role in these primaries because to Rick's point, they can 617 00:33:12,440 --> 00:33:15,320 Speaker 1: just you know tag on at the end, and Donald 618 00:33:15,320 --> 00:33:18,520 Speaker 1: Trump has moved this party in his direction, There's no 619 00:33:18,640 --> 00:33:21,640 Speaker 1: question about that. So I think it has to do 620 00:33:21,920 --> 00:33:24,800 Speaker 1: a lot with his you know, ego, as it always does. 621 00:33:24,840 --> 00:33:27,840 Speaker 1: And I don't think he takes advice from advisors or 622 00:33:27,880 --> 00:33:29,920 Speaker 1: smart people like Rick about what he should be doing. 623 00:33:29,960 --> 00:33:31,880 Speaker 1: And that's partly why he's in the mess he's in 624 00:33:32,200 --> 00:33:34,000 Speaker 1: because there's a lot he could have done towards the 625 00:33:34,080 --> 00:33:37,320 Speaker 1: end of November or the beginning of November to be 626 00:33:37,400 --> 00:33:39,320 Speaker 1: in the White House again, and he just couldn't do it. 627 00:33:39,480 --> 00:33:41,479 Speaker 1: If you didn't hire Rick Davis, that's your problem. What 628 00:33:41,480 --> 00:33:43,680 Speaker 1: can we say. I have to ask you both about 629 00:33:43,840 --> 00:33:47,960 Speaker 1: Eric Grayden's and and what this is saying about the 630 00:33:48,000 --> 00:33:50,920 Speaker 1: Republican Party and just the state of America right now 631 00:33:51,040 --> 00:33:56,040 Speaker 1: is the Senate celebrates, even Mitch McConnell celebrating compromise on 632 00:33:56,080 --> 00:33:59,000 Speaker 1: a gun safety bill that apparently is going to be forthcoming. 633 00:33:59,040 --> 00:34:01,560 Speaker 1: They could have is done by the weekend. Well, this 634 00:34:01,680 --> 00:34:04,080 Speaker 1: former governor of Missouri who is now running for US 635 00:34:04,120 --> 00:34:07,520 Speaker 1: Senate puts up a new ad uh that some might 636 00:34:07,640 --> 00:34:12,719 Speaker 1: think glorifies gun violence. It's just a thirty second ad. 637 00:34:12,840 --> 00:34:16,800 Speaker 1: It's already been taken down from Facebook. Eric Brighten's walking 638 00:34:16,840 --> 00:34:19,239 Speaker 1: down the street. He's going past in a rural neighborhood. 639 00:34:19,280 --> 00:34:22,319 Speaker 1: He's walking past a mailbox with a with a big 640 00:34:22,360 --> 00:34:24,799 Speaker 1: old shotgun or don't ask me what kind of a 641 00:34:24,840 --> 00:34:28,319 Speaker 1: gun this is he's holding. And he starts the rap 642 00:34:28,400 --> 00:34:32,040 Speaker 1: from there, I'm Eric Brighton's navy seal and today we're 643 00:34:32,080 --> 00:34:38,040 Speaker 1: going rhino hunting. Rhino coxt corruption and is marked by 644 00:34:38,040 --> 00:34:43,680 Speaker 1: the stripes of cowardice. That now he's joined by a 645 00:34:43,760 --> 00:34:47,239 Speaker 1: bunch of guys and fatigues and they break down the 646 00:34:47,280 --> 00:34:50,080 Speaker 1: door of a house, set off smoke bombs, joined the 647 00:34:50,120 --> 00:34:53,600 Speaker 1: MAGA crew, get a rhino hunting permit. There's no bagging limit, 648 00:34:53,680 --> 00:34:56,759 Speaker 1: no tagging limit, and it doesn't expire until we save 649 00:34:56,800 --> 00:35:00,440 Speaker 1: our country. Wow, all right? And then they show the 650 00:35:00,520 --> 00:35:04,279 Speaker 1: rhino hunting permit. Uh, it's been flagged by Twitter. They 651 00:35:04,280 --> 00:35:08,440 Speaker 1: did not take it down. Facebook did. And Rick, I'm 652 00:35:08,480 --> 00:35:10,080 Speaker 1: assuming that's the whole point of this. Do you make 653 00:35:10,120 --> 00:35:14,719 Speaker 1: a crazy act like that with any intention other than 654 00:35:14,960 --> 00:35:17,080 Speaker 1: having it be banned so you can raise money and 655 00:35:17,160 --> 00:35:21,280 Speaker 1: talk about, Yeah, there's a headline grabbing off color kind 656 00:35:21,360 --> 00:35:25,799 Speaker 1: of effort to be extreme right and and extreme is 657 00:35:25,840 --> 00:35:29,600 Speaker 1: what sells these days in politics. But but Graydon's you know, 658 00:35:29,680 --> 00:35:32,799 Speaker 1: he's just he's he's got a litany of problem right, 659 00:35:32,880 --> 00:35:35,120 Speaker 1: and he was run out of the governorship, you know, 660 00:35:35,239 --> 00:35:38,799 Speaker 1: with assault charges, he's had legal problems. Um. You know, 661 00:35:38,880 --> 00:35:41,560 Speaker 1: I think the people who see this aren't actually going 662 00:35:41,600 --> 00:35:44,319 Speaker 1: to be entertained by it, right, I mean he claims, now, oh, 663 00:35:44,360 --> 00:35:47,200 Speaker 1: it was just sort of tongue in cheek, right. Um, 664 00:35:47,239 --> 00:35:49,000 Speaker 1: you know, let's see how tongue and cheek the voters 665 00:35:49,040 --> 00:35:52,680 Speaker 1: are when he's giving an opportunity, perfectly good Senate seat, 666 00:35:53,200 --> 00:35:55,680 Speaker 1: giving an opportunity that Democrats to win, and in this case, 667 00:35:56,000 --> 00:36:00,680 Speaker 1: Democrats probably will win it because he continues to do 668 00:36:00,760 --> 00:36:04,560 Speaker 1: these kinds of demagoguery. Uh. And an Atlantish sinks he's 669 00:36:04,560 --> 00:36:06,680 Speaker 1: going to be seen as a joke. Well, King Castro, 670 00:36:07,239 --> 00:36:11,360 Speaker 1: a Democrat from Texas, of course, Democrat Genie uh said 671 00:36:11,440 --> 00:36:16,160 Speaker 1: this is sociopathic. You're going to get someone killed. Adam Kinzinger, 672 00:36:16,600 --> 00:36:19,359 Speaker 1: Republican of course from Illinois. You're a very bad man, 673 00:36:20,200 --> 00:36:25,360 Speaker 1: he said, Uh, considering the political climate, the shootings recently, Jeannie, 674 00:36:25,920 --> 00:36:28,960 Speaker 1: who's he trying to target? Yeah, the timing of this, 675 00:36:29,080 --> 00:36:31,279 Speaker 1: I mean, the ad itself is outrageous. You know, listen, 676 00:36:31,320 --> 00:36:36,240 Speaker 1: in American politics, people have historically, including many Democrats, used 677 00:36:36,280 --> 00:36:42,400 Speaker 1: firearms in their ads, but they haven't used them to invasion, 678 00:36:42,480 --> 00:36:46,400 Speaker 1: hunt down yes elected or officials or governmental officials. And 679 00:36:46,440 --> 00:36:49,160 Speaker 1: this is coming just after Brett Kavanaugh. Um, this is 680 00:36:49,200 --> 00:36:51,840 Speaker 1: coming just after you'valdi. This is coming after the congressional 681 00:36:51,840 --> 00:36:54,759 Speaker 1: baseball game. Maybe there there is so much wrong with this, 682 00:36:54,960 --> 00:36:58,560 Speaker 1: particularly Graightens with his past as being accused of violence 683 00:36:58,600 --> 00:37:01,239 Speaker 1: to put this out, Um, so you know, from all 684 00:37:01,280 --> 00:37:04,799 Speaker 1: of those perspectives, you know, TV networks probably wouldn't run 685 00:37:04,840 --> 00:37:08,040 Speaker 1: something like the social media outlets do, and that's the problem. 686 00:37:08,120 --> 00:37:12,080 Speaker 1: We need regulation in this area. He is incidentally one 687 00:37:12,120 --> 00:37:15,600 Speaker 1: of twenty one Republicans running to replace the retiring Senator 688 00:37:15,920 --> 00:37:19,439 Speaker 1: Roy Blunt. Uh. Not looking too good on the odds there, 689 00:37:19,640 --> 00:37:23,760 Speaker 1: ay Rick Davis. Yeah, I think he's got a slim 690 00:37:23,840 --> 00:37:26,920 Speaker 1: chance of playing it to the fastest hour in politics. 691 00:37:27,000 --> 00:37:29,319 Speaker 1: If you showed up late, subscribe to the podcast. I'm 692 00:37:29,400 --> 00:37:31,200 Speaker 1: Joe Matthew. This is Bloomberg