Speaker 1: Bloomberg Audio Studios, podcasts, radio news. The US presidential election
Speaker 1: is less than a month away, and most major polls,
Speaker 1: including surveys conducted by Bloomberg and Morning Consults, indicate the
Speaker 1: race is incredibly close. Most importantly in the seven Swing States,
Speaker 1: the persistent number one issue for voters is the economy.
Speaker 1: Vice President Kamala Harris and former President Donald Trump are
Speaker 1: putting it front and center as they crisscross the country
Speaker 1: in the final weeks of the campaign, and on Tuesday,
Speaker 1: Trump sat down for an interview at the Economic Club
Speaker 1: of Chicago with Bloomberg editor in chief John micklethway.
Speaker 2: We're going to focus on business and the economy, and
Speaker 2: that's partly because this is a business audience. It is
Speaker 2: also because voters insist that the economy is the main
Speaker 2: issue that matters when they vote.
Speaker 1: For about an hour, asked Trump about his platform. They
Speaker 1: talked about tariffs and immigration and the so called Trump Trade.
Speaker 1: John also noted that Bloomberg and the Economic Club of
Speaker 1: Chicago have invited Harris to participate in a similar event
Speaker 1: and that invitation remains open.
Speaker 2: So on that note, let me invite on stage President Trump.
Speaker 1: This is the big take from Bloomberg News. I'm David Gera.
Speaker 1: On today's episode, Bloomberg editor in chief John Micklethwaite's interview
Speaker 1: with former President Donald Trump. It's been condensed for this podcast.
Speaker 1: You can hear the full conversation at Bloomberg dot com
Speaker 1: and on the Bloomberg terminal. Former President Trump has proposed
Speaker 1: a series of changes to the tax code. He said
Speaker 1: the US should eliminate taxes on tips, for instance. He
Speaker 1: said interest on car loan should be tax deductible like
Speaker 1: mortgage interest, and Trump is said he's in favor of
Speaker 1: removing a ten thousand dollars cap on the state and
Speaker 1: local tax deduction, a limit by the way he put
Speaker 1: in place when he was the president. He's offered limited
Speaker 1: detail on how he'd pay for these tax cuts, which
Speaker 1: Congress would have to approve. John started the interview by
Speaker 1: asking the former president how he plans to cover the cost.
Speaker 2: The Committee for Responsible Federal Budget, which is a bipartisan outfit,
Speaker 2: put some predictions the other day. If you add up
Speaker 2: all the promises you've made and your plans would add
Speaker 2: seven point five trillion dollars to the debt. That's more
Speaker 2: than twice the total for Vice President Harris, you're on
Speaker 2: course to push up debts up to one hundred and
Speaker 2: fifty percent of GDP. This is a very business like audience.
Speaker 2: Why should they trust you with that?
Speaker 3: Because we're about growth. She's got no growth whatsoever, and
Speaker 3: we're all about growth. We're going to bring companies back
Speaker 3: to our country. You look at even today as I
Speaker 3: was driving over, I see these empty, old, beautiful like
Speaker 3: steel mills and factories that are empty and falling down.
Speaker 3: Some have been converted to senior citizens' homes. But that's
Speaker 3: not going to do the trick. And we're going to
Speaker 3: bring the companies back. We're going to lower taxes still
Speaker 3: further for companies that are going to make their product
Speaker 3: in the USA. We're going to protect those companies with
Speaker 3: strong tariffs. Because I'm a believer in tariffs. I'm not
Speaker 3: sure that you are. I don't think you are, but
Speaker 3: I congratulate you in your career. But to me, the
Speaker 3: most beautiful word in the dictionary is tariff, and it's
Speaker 3: my favorite word. It needs a public relations firm just
Speaker 3: to help, but it's the most beautiful word in the tariffs.
Speaker 2: Do you think that will bring in the revenues to
Speaker 2: use another bipartisan group. Yeah, I said, I only bring
Speaker 2: in two hundred billion dollars that is only that's barely
Speaker 2: the cost of two of your promises.
Speaker 3: Yeah, but that's like for what company you're talking about. Okay, look,
Speaker 3: I've I've brought in with tariffs and I was just
Speaker 3: getting started. Then COVID came and we had a which
Speaker 3: you know, because I tell you what, I did a
Speaker 3: very good job in COVID. Nobody knew what the hell
Speaker 3: it was. I call it the China virus because I
Speaker 3: like being a little more accurate. But when that came,
Speaker 3: but we got hundreds of billions of dollars just from
Speaker 3: China alone, and I hadn't even started yet. But tarif's
Speaker 3: are two two things if you look at it. Number
Speaker 3: one is for protection of the companies that we have
Speaker 3: here and the new companies that will move in, because
Speaker 3: we're going to have thousands of companies coming into this country.
Speaker 3: We're going to grow it like it's never grown before.
Speaker 3: And we're going to protect them when they come in
Speaker 3: because we're not going to have somebody undercut them.
Speaker 1: Here from shared and anecdotes. To illustrate his point, he
Speaker 1: described a friend who builds car factories. That story, which
Speaker 1: we weren't able to verify, went on for several minutes.
Speaker 2: I let you give your example. Yeah, you talked a
Speaker 2: lot about tariff's. You look at the American economy. Forty
Speaker 2: million jobs rely on trade. It counts for twenty seven
Speaker 2: percent of g If you cut that off, that's also
Speaker 2: going to effect on many many business people here. Tariffs
Speaker 2: also have another side. Isn't that something that you have
Speaker 2: to acknowledge? You could be plunging America into the biggest
Speaker 2: trade war since Smooththall you're going to stop, You're going
Speaker 2: to there are tariffs already.
Speaker 3: There are terriffs. All you have to do is build
Speaker 3: your plant in the United States and you don't have
Speaker 3: any tariffs.
Speaker 2: People, there's a lot of places, a lot of places
Speaker 2: like this, they rely There are a lot of jobs
Speaker 2: that rely on foreigners coming here. You're going to basically
Speaker 2: stop trade with China. You're talking about sixty percent trade
Speaker 2: on that, sixty plent tariffs on that. You're talking, as
Speaker 2: you said, one hundred two hundred percent of things you
Speaker 2: don't really like. You're also talking about twenty ten, twenty
Speaker 2: percent tariffs on the rest of the world. That is
Speaker 2: going to have a serious effect on the overall economy.
Speaker 2: And yes, you're going to find some people who were
Speaker 2: gained from individual tariffs. The overall effect could be massive.
Speaker 3: I agree, it's going to have a massive effect. Positive effect.
Speaker 3: It's going to be a positive Let me just no, no,
Speaker 3: let me tell me. I know how committed you are
Speaker 3: to this, and it must be hard for you to,
Speaker 3: you know, spend twenty five years talking about tariffs has
Speaker 3: been negative and then have somebody explained to you that
Speaker 3: you're totally wrong.
Speaker 4: It'll have a negative, it will have other course if
Speaker 4: you don't do this. Fourteen million jobs. There's a lot
Speaker 4: of jobs to rely on. They're all coming back now.
Speaker 2: If you belong jobs, those are fourteen million jobs in
Speaker 2: America that rely on Ready.
Speaker 3: John Deere, great company. They announced about a year ago
Speaker 3: they're going to build big plants outside of the United States. Right,
Speaker 3: They're going to build them in Mexican.
Speaker 2: You thresh they're also going to build they still that's right.
Speaker 3: I said, if John Deere builds those plants and not
Speaker 3: selling anything into the United States. They just announced yesterday
Speaker 3: they're probably not going to build the plants. Okay, I
Speaker 3: kept the judge jobs here, and I'll keep them. John
Speaker 3: Deere will stay here, and I'll tell John Deere if
Speaker 3: you do build outside of the United States, you can
Speaker 3: if you want.
Speaker 1: For instance, the manufacturer responded to Trump's thread of tariffs
Speaker 1: back in September, saying that less than five percent of
Speaker 1: its US sales were manufactured in Mexico. They did not
Speaker 1: make an announcement about plans in Mexico. The day before
Speaker 1: Trump's interview, Trump went on to discuss trade deals with
Speaker 1: India and China. Then he offered his assessment of US
Speaker 1: trade deals with European countries. He believes there's an imbalance
Speaker 1: between goods that come from other countries to the US,
Speaker 1: including cars, and how many similar US made goods are
Speaker 1: available in those countries. This interview continues in a moment
Speaker 1: We've been playing key moments from Bloomberg editor in chief
Speaker 1: John Micklethwaite's interview on Tuesday with former President Donald Trump.
Speaker 1: Before the break, John was asking Trump about his proposal
Speaker 1: to increase the use of tariffs.
Speaker 2: What about consumers? People out there, They're going to be
Speaker 2: the biggest textition. Critics say, your tariffs will end up
Speaker 2: being like a national sale tax. Because the country had
Speaker 2: If you have America the moment has three trillion dollars
Speaker 2: worth of imputs. You're going to add tariffs to every
Speaker 2: single one of them. That is going to push up
Speaker 2: the cost for all those people who want to buy
Speaker 2: foreign goods. Is just simple mathematics, present drump It's not this, Yeah,
Speaker 2: it is, but not the way you've figured that was
Speaker 2: always very good in mathematics.
Speaker 3: Let me tell you you're saying three trainia, those company
Speaker 3: it and they don't have to pay. And if by
Speaker 3: the higher the tariff, the more likely it is to
Speaker 3: have them come into.
Speaker 2: The higher the tariff, the more you're going to put
Speaker 2: on the value of that those goods, the higher people
Speaker 2: are get able to pay in shops.
Speaker 3: Ready, the higher the tariff, the more likely it is
Speaker 3: that the company will come into the United States and
Speaker 3: build a factory in the United States so it doesn't
Speaker 3: have to pay the terraff that will that.
Speaker 2: Would take That would take many many, that would take
Speaker 2: many years.
Speaker 3: In fact, I'll tell you you know, there's another theory
Speaker 3: is that the tariff you make it so high, so horrible,
Speaker 3: oh obnoxious, that they'll come right away. When I do
Speaker 3: the ten percent ten percent is really first of all,
Speaker 3: ten percent when you collect it is hundreds of billions
Speaker 3: of doc numbers that you're talking all reducing our deficit.
Speaker 3: But really so, there's two ways of looking at a tariff.
Speaker 3: You can do it as a money making instrument, or
Speaker 3: you can do it as something to get the companies. Now,
Speaker 3: if you want the companies to come in, the traff
Speaker 3: has to be a lot higher than ten percent, because
Speaker 3: ten percent is not enough. They're not going to do
Speaker 3: it for ten But you make a fifty percent tariff,
Speaker 3: they're going to come in. Let me tell you the
Speaker 3: other thing about tariffs that's great are steel companies. As
Speaker 3: you know, three four years ago, they were well go.
Speaker 3: When I was in office, I saw a man from
Speaker 3: a big steel company and he was devastated. I knew
Speaker 3: him for a long time, and it's been a tough business.
Speaker 3: It was a great business many years ago. And I
Speaker 3: would not let you are still be sold to Japanese,
Speaker 3: by the way, just psychologically, I think it.
Speaker 4: Would be snipp on steel as you Yeah, I wouldn't
Speaker 4: have led.
Speaker 3: Yeah, I would have let it yourself. But I would
Speaker 3: if I would stop it if it hasn't been completed
Speaker 3: by the time I'm president, because I think it's such
Speaker 3: a horrible tale. But I had a lot to do
Speaker 3: with steel. We were going to lose all our steel
Speaker 3: companies because China, as you remember, was dumping steel at
Speaker 3: levels that nobody's ever seen before. And I put a
Speaker 3: fifty percent tax on that and tariff on that all
Speaker 3: dumped steel. And it was also bad steal. It was dirty.
Speaker 3: What they called dirty steel was a good steal, which
Speaker 3: is a bad thing for structural components of buildings and
Speaker 3: planes and things like that. They were dumping crap into
Speaker 3: our country. And I put a fifty percent tariff. I
Speaker 3: started at twenty five. I raised it to fifty because
Speaker 3: the twenty five didn't quite do it. I raised it
Speaker 3: to fifty, and that did it. They stopped dumping steel,
Speaker 3: and I saved our steel by having that, We saved it.
Speaker 3: We saved our steel. Now what was left because we've
Speaker 3: lost so much. But there are certain companies you have
Speaker 3: to have. There are certain things you have to have. Still,
Speaker 3: you have to have if you go to war. You
Speaker 3: know there's a possibility you go to war.
Speaker 1: Trump then repeated a version of a claim he's made often,
Speaker 1: saying he's the only president in eighty two years who's
Speaker 1: kept the US out of war, which is inaccurate. He
Speaker 1: also claimed that the wars in Ukraine and the Middle
Speaker 1: East wouldn't have happened if he were the president.
Speaker 2: I was asking about tariffs. You've gone off by that.
Speaker 2: Seeing you've brought up tariffs and foreign policy, many people
Speaker 2: would say the biggest problem with your tariffs is actually geopolitics.
Speaker 2: You in your first term, you've got some credit for
Speaker 2: effectively saying that there was a Cold War against China.
Speaker 2: That's what America was in You look at the last
Speaker 2: Cold War against the Soviet Union. America won it in
Speaker 2: part because it rallied allies to it. You're talking about
Speaker 2: slamming allies with thir tariffs. Isn't this time you're going
Speaker 2: to end up trying to rally the West and you're
Speaker 2: dividing it instead. Isn't that the real problem with tariffs,
Speaker 2: even beyond all the problems to the economy, where you
Speaker 2: keep won't bring out these individual examples, but the overall
Speaker 2: effect is going to be dramatic. The answer first about
Speaker 2: foreign policies, I'll do that. How does it help you
Speaker 2: take on China? Turning all your allies again.
Speaker 3: Tremendously because China thinks we're stupid country, a very stupid country.
Speaker 3: They can't believe that somebody finally got wise to them.
Speaker 3: Not one president Bush Obama, Barack Husain Obama. Have you
Speaker 3: heard of him? Not one president, not think of it,
Speaker 3: Not one president charge China anything. They said, Oh, they
Speaker 3: are third world nation, they're developing. Well, we're a developing
Speaker 3: nation too. Take a look at Detroit. Take a look
Speaker 3: at our cities. We're a developing nation. We we have
Speaker 3: to develop more than they do. That we're way behind them.
Speaker 3: You take a look at what's happened to our cities.
Speaker 3: So one of my.
Speaker 2: Question is about your allies, not about China. You aren't
Speaker 2: going to annoy our allies behind you.
Speaker 3: But our allies have taken advantage of us more so
Speaker 3: than our our enemies. Our allies are the European Union.
Speaker 1: Trump's answer went on to cover trade with Japan and
Speaker 1: a conversation he said he had with former Prime Minister
Speaker 1: Shinzo Abbe on the topic of world leaders. John also
Speaker 1: asked if Trump has spoken with Russian President Vladimir Putin
Speaker 1: since leaving office. In his newest book, Reporter Bob Woodward
Speaker 1: cites an unnamed aid who says Trump and Putin have
Speaker 1: spoken several times.
Speaker 2: Can you say yes or no whether you have talked
Speaker 2: to Vladimir Putin since you stopped being president.
Speaker 3: Well, I don't comment on that, but I will tell
Speaker 3: you that if I did, it's a smart thing. If
Speaker 3: I'm friendly with people, if I have a relationship with people,
Speaker 3: that's a good thing, not a bit. I think in
Speaker 3: terms of a country, He's got two thousand nuclear weapons,
Speaker 3: and so do we. China has a lot less, but
Speaker 3: they'll catch us within five years. I have a relationships
Speaker 3: very much. I don't talk about I don't talk about No,
Speaker 3: I don't talk about that. I talk about it.
Speaker 2: I can tell you what these people Russia.
Speaker 3: Has never had a president that they respect so much.
Speaker 3: But more importantly or less importantly, I guess.
Speaker 1: Coming up former President Trump's comments on Jerome Powell and
Speaker 1: why he thinks the chair of the Federal Reserve has,
Speaker 1: as he put it, the greatest job in government. Bloomberg
Speaker 1: editor in chief John Mickelthwaite's interview on Tuesday with former
Speaker 1: President Donald Trump lasted just over an hour, and while
Speaker 1: the stated focus was on business in the economy, there
Speaker 1: were some digressions. Trump said, this is his rhetorical stock
Speaker 1: in trade. He described his lengthy, meandering speeches as doing
Speaker 1: the weave and.
Speaker 3: By the way, by the way, and I think it's
Speaker 3: very important. You can go, you know, I call it
Speaker 3: the weave. You can call it. You have the weave,
Speaker 3: as long as you end up in the right location
Speaker 3: at the end.
Speaker 1: But there were a few questions that yielded answers that
Speaker 1: didn't quite get there. A question about whether he'd be
Speaker 1: in favor of breaking up Google, for instance, led to
Speaker 1: Trump talking about a lawsuit brought by federal prosecutors in
Speaker 1: Virginia against that state, accusing it of removing voters from
Speaker 1: the rules too close to election day. But on several occasions,
Speaker 1: John referenced the audience in the room, made up in
Speaker 1: part of business leaders, noting many of them care about
Speaker 1: the strength of the US economy, and brought his questions
Speaker 1: back to that topic.
Speaker 2: So, the New York Economic Club, you said that if
Speaker 2: you lost the dollar as a reserve currency, it would
Speaker 2: be like America losing a war. You look at what
Speaker 2: you're going to do in terms of protectionism, drive countries
Speaker 2: to use the other currencies and all that debt is
Speaker 2: also going to lessen the dollar's statuses of the world's
Speaker 2: reserve currency.
Speaker 3: If you worry about the dollars, so secure your reserve
Speaker 3: currency is the strongest it'll ever be.
Speaker 2: And President Trump at the moment, there is a thing
Speaker 2: called the Trump trade in the markets. Do you know
Speaker 2: what that is? The Trump trade is very simple. People
Speaker 2: are betting that your policies, they're going to drive up debt,
Speaker 2: They're going to drive up inflation, so they're going to
Speaker 2: drive up inflation interest rates. Are the investors wrong?
Speaker 3: Yeah, I had four years no inflation. I had four
Speaker 3: years no inflation, but.
Speaker 2: That was that was when you had much.
Speaker 3: I had four years. It's better than that. And Biden,
Speaker 3: who has no idea where the hell he is? Okay,
Speaker 3: Biden went two years with no inflation because he inherited
Speaker 3: from me. And then they started spending money like drunken salers.
Speaker 3: They spent so much money. It was so ridiculous the
Speaker 3: money they were spending. They were spending on the green
Speaker 3: new scam, A green new scam, the Green New Deal.
Speaker 3: You know, it was conceived of by AOC plus three.
Speaker 3: She never even studied the environment in college. She went
Speaker 3: to a nice college. She came out. She just said
Speaker 3: the green new scam. She just named. All these things.
Speaker 2: Meant the markets are looking at the fact you are
Speaker 2: making all these promises. Latest one was carloans. You're flooding
Speaker 2: the thing with giving giveaways. But when I rolled, I
Speaker 2: was actually quite kind to you. I use seven trillion.
Speaker 2: The upper estimate is fifteen trillion. People like the Wall
Speaker 2: Street Journal, who's hardly a communist organization, but you don't.
Speaker 2: They have criticized you on this as well. You are
Speaker 2: running an enormous debt.
Speaker 3: What is the Wall Street Journal? Now I'm meeting with
Speaker 3: them tomorrow. What is the Wall Street Journal?
Speaker 2: That?
Speaker 3: They've been wrong about everything? So have you? By the way,
Speaker 3: you've been wrong.
Speaker 2: You're trying to turn this. You're trying to turn this
Speaker 2: you've been wrong about You're trying to turn You're trying
Speaker 2: to turn this into today's business people.
Speaker 3: But you're wrong. You've been wrong. You've been wrong all
Speaker 3: your life on this stuff. You've been Let me tell
Speaker 3: you about currency. You're gonna you know, you're going jumping
Speaker 3: a lot of a lot of different subjects. The reserve currents,
Speaker 3: their reserve currency. That's where you're start right, the reserve
Speaker 3: currency is under threat because you have Iran, you have Russia,
Speaker 3: you have China. Once China is the one that you
Speaker 3: have to worry about because they want it. They want
Speaker 3: to have the wand be the you know, thing of power.
Speaker 3: So here's what I'm doing again. I hate to go
Speaker 3: back to it. If somebody says, and I know countries
Speaker 3: want to get out because they don't respect our leadership,
Speaker 3: they look at this guy, they say, you've got to
Speaker 3: be kidding, And she's worse than him, by the way
Speaker 3: she's I never thought i'd say this. She is not
Speaker 3: as smart as Biden. If you can believe, this is
Speaker 3: not what we had four years of this, this lunacy,
Speaker 3: and we can't have anymore. We're not going to have
Speaker 3: a country left. Okay. Currency very important, and if you
Speaker 3: want to go to third world, if you want to
Speaker 3: go to third world status, lose your reserve currency. We
Speaker 3: have to have that. We cannot lose it if you'll
Speaker 3: go to third world status in this country, because you
Speaker 3: take a look at the way things are running. If
Speaker 3: a country tells me, Sarah, we like you very much,
Speaker 3: but we're going to no longer adhere to being in
Speaker 3: the reserve currency. We're not going to salute the dollar anymore.
Speaker 3: I'll say, that's okay, And you're going to pay one
Speaker 3: hundred percent tariff for everything you sell into the United States.
Speaker 3: And we love your product. I hope you sell a
Speaker 3: lot of it into the United States, but you're going
Speaker 3: to pay one hundred percent tariff. He will then follow
Speaker 3: it up by saying, sir, it would be an honor
Speaker 3: to stay with him reserve currency, I will be. That
Speaker 3: will be like just playing That's not even chess, that's checkers.
Speaker 1: Another issue that's been front and center in this campaign
Speaker 1: is inflation, which the Federal Reserve has been fighting for
Speaker 1: years now.
Speaker 3: Well.
Speaker 1: Trump has not been shy about criticizing Jerome Powell, the
Speaker 1: current chair of the FED, despite the fact he nominated
Speaker 1: Powell for the job in twenty seventeen.
Speaker 2: You say you don't want interest rates to go higher.
Speaker 2: You've gone backwards and forwards about It depends only you
Speaker 2: want to keep Whether you want to keep Jerome put
Speaker 2: Powell as Chair of the Federal Reserve. His term is
Speaker 2: chair runs on to May twenty twenty six. Would you
Speaker 2: seek to remove, remove, or demote him?
Speaker 3: Look, I think it's the greatest job in government. You
Speaker 3: show up to the office once a month and you say,
Speaker 3: let's see Philip Acre, and everybody talks about you like
Speaker 3: you're a guy. Oh what will he do? I mean
Speaker 3: before the guy he used to walk into my office.
Speaker 3: He was like the Beg and Hull host. He was fine.
Speaker 3: You did you know?
Speaker 2: You talked about removing him once.
Speaker 3: I did because he was keeping the ridge too high,
Speaker 3: and I was right, and you would do that again.
Speaker 3: In fact, he actually dropped them too much when I
Speaker 3: did this, because I said I was threatening to determinate him.
Speaker 3: There was a question as to whether or not she could.
Speaker 3: And there was an article on the New York Times
Speaker 3: two half pages one page that I can do it
Speaker 3: by lawyers, one half page that I couldn't. And that
Speaker 3: was enough for him, and he dropped the hell out
Speaker 3: of the rich. He dropped them too much. He went
Speaker 3: so paous. He dropped them actually too much. Okay, here's
Speaker 3: the story. I think that if you're a very good
Speaker 3: president with good sense, you should be able to at
Speaker 3: least talk to him. I don't say make the decision
Speaker 3: at all, but I mean I've been a very successful businessman.
Speaker 3: I've done really good much better. Now people are understand
Speaker 3: how good I've done because they're seeing it much better
Speaker 3: than the fake news wants to give me credit. But
Speaker 3: I think I have the right to say, as a
Speaker 3: very good businessman and somebody that's used a lot of sense,
Speaker 3: I think I have the right to say that. You know,
Speaker 3: I think I'm better than he would be. I think
Speaker 3: I'm better than most people would be in that position.
Speaker 3: I think I have the right to say I think
Speaker 3: you should go up or down a little bit. I
Speaker 3: don't think I should be allowed to order it, but
Speaker 3: I think I have the right to put in comments
Speaker 3: as to whether or not interest rates should go up
Speaker 3: or down.
Speaker 1: John's interview with Trump ended with what's become another hot
Speaker 1: button issue in this campaign. Immigration. Trump has proposed to
Speaker 1: porting as many as eleven million undocumented immigrants if he's reelected,
Speaker 1: and John asked him about the economic implications of that.
Speaker 2: Just facing on the economic thing, are you prepared to say, look,
Speaker 2: it's fine to have a slightly smaller economy in exchange
Speaker 2: for having the immigration control.
Speaker 3: A simple answer. I want a lot of people to
Speaker 3: come into our country, but I want them to come
Speaker 3: in legally. I don't want to have.
Speaker 2: That means that means he will have That means you
Speaker 2: will have to depot You know, you are talking about
Speaker 2: deposing eleven million people. That is a lot of people.
Speaker 3: Start out. It came out last week that four hundred
Speaker 3: and twenty five thousand people are horrible criminals at the
Speaker 3: highest level. But it came out that thirteen thousand and
Speaker 3: ninety nine were let in during their administration. They tried
Speaker 3: to say longer wrong. During the over the last three
Speaker 3: and a half years, thirteen thousand plus people came in murderers,
Speaker 3: they're in jail for murder, some were having the death penalty.
Speaker 3: That they were all released into our country. Thirteen thousand
Speaker 3: and ninety nine people were released into our country.
Speaker 1: Those stats are falls. Trump has been leaning on those
Speaker 1: claims and similar ones on the campaign trail.
Speaker 3: This month.
Speaker 1: He also ticked through other debunked talking points about immigrants
Speaker 1: being responsible for spikes in violent crime. Another major theme
Speaker 1: in this election has been age. The race changed dramatically
Speaker 1: in July when President Biden decided he would no longer
Speaker 1: seek reelection amid growing concerns about his age. He's eighty
Speaker 1: one years old. Donald Trump is seventy eight, almost two
Speaker 1: decades older than Vice President Harris. At one point, when
Speaker 1: he addressed how he picked nominees for the Supreme Court,
Speaker 1: he talked about age as a disqualification. Toward the end
Speaker 1: of their interview, John asked about that.
Speaker 2: You've just said it. You don't too old. You own
Speaker 2: and run businesses. Would you appoint a CEO who was
Speaker 2: seventy eight You didn't give you Oh yeah, a.
Speaker 3: Medical Yeah, well, it depends on I'd make people like Biden,
Speaker 3: who's in bad shape. I wouldn't appoint him he's eighty
Speaker 3: one or eighty two. He's four years older. But at
Speaker 3: a point, I know some of the smartest people I know.
Speaker 3: I know man that made all of his money from
Speaker 3: the time he was eighty to ninety, and he was
Speaker 3: a fair year all his life. He was in the
Speaker 3: drink's business, the strange stranger.
Speaker 2: You didn't bring this up when but you were running
Speaker 2: against Joe Biden.
Speaker 3: No, I never attacked him for his age. In fact,
Speaker 3: I used to defend him on his age. I attacked
Speaker 3: him for his lack of competence.
Speaker 2: I asked you, I've asked you all these questions either way.
Speaker 3: Just for that, because I think it's important and I
Speaker 3: know you do too. I know so many people in
Speaker 3: their eighties that are among Bernie Marcus is ninety five,
Speaker 3: a founder of Home Deeople. You have the conversation with him.
Speaker 3: He's just as sharp as he mentally, he's just as
Speaker 3: sharp as you have was. He's ninety five. I could
Speaker 3: tell you that in the nineties. I don't want to
Speaker 3: get into the ninety stuff. But you know what, I
Speaker 3: know many people in their eighties. I know guys in
Speaker 3: their eighties that won't leave the company, like family companies
Speaker 3: where they don't want the kids to take because they're
Speaker 3: much more competent than their kids. I know them both, right,
Speaker 3: So no, I would have no problem.
Speaker 2: Well, you've given us a toady reason of where that
Speaker 2: country might be going to. Thank you very much for much.
Speaker 2: I appreciate you.
Speaker 1: Former President Donald Trump in conversation with Bloomberg editor in
Speaker 1: chief John Micklethwade at an event co hosted by Bloomberg
Speaker 1: and the Economic Club of Chicago on Tuesday. You can
Speaker 1: hear the interview in its entirety at bloomberg dot com
Speaker 1: or on the Bloomberg terminal. And a quick note again
Speaker 1: that Bloomberg and the Economic Club of Chicago have invited
Speaker 1: Vice President Harris to participate in a similar event, and
Speaker 1: she is so far declined. This is the Big Take
Speaker 1: from Bloomberg News. I'm David Gura. This episode was produced
Speaker 1: by Julia Press and David Fox. It was edited by
Speaker 1: Aaron Edwards and Wendy Benjaminson. It was mixed by Alex Sekura,
Speaker 1: fact check by Adriana Tapia. Our senior producer is Naomi Shaven,
Speaker 1: Our senior editor is Elizabeth Ponso. Our executive producer is
Speaker 1: Nicole Beemster Boor, and Sage Bauman is Bloomberg's head of Podcasts.
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Speaker 1: back tomorrow.