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Speaker 1: Bloomberg Audio Studios, podcasts, radio News. You're listening to the

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Speaker 1: Bloomberg Balance of Power podcast kettas live weekdays at noon

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Speaker 1: and five pm Eastern on Apple Cockley and Android Auto

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Speaker 1: with the Bloomberg Business App. Listen on demand wherever you

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Speaker 1: get your podcasts, or watch us live on YouTube.

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Speaker 2: John Kaylee lines alongside Joe Matthew here in Washington, where

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Speaker 2: President Trump just departed. He is a board Air Force

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Speaker 2: One now making traps today to Ohio and Kentucky the

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Speaker 2: next leg of his so called affordability Tour, knowing of course,

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Speaker 2: that he is making these claims about affordability and trying

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Speaker 2: to tout them at his various venues and in his

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Speaker 2: remarks today, at the same time that there are questions

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Speaker 2: as to what the economic impact will be of the

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Speaker 2: ongoing war with iron here at home, from gasoline prices

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Speaker 2: and beyond, And of course we also don't know the

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Speaker 2: timeline of that war, necessarily, as the President has repeatedly

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Speaker 2: condending it could be end soon that we're out of targets,

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Speaker 2: although when he spoke to reporters on his way out

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Speaker 2: of the White House to joint Bass Andrews, he seemed

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Speaker 2: to suggest that there still could be more to come.

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Speaker 2: So let's get the latest now with Bloomberg Tyler Kendall,

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Speaker 2: who is live at the White House forest from the

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Speaker 2: north lawne. So, Tyler, what exactly did we just hear

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Speaker 2: from the President?

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Speaker 3: Hey, Kelly, Well, you wait it up pretty perfectly.

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Speaker 4: There.

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Speaker 5: There has been some mixed messaging from the administration over

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Speaker 5: the past twenty four hours, and the President just moments

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Speaker 5: ago saying that there are certain targets that the US

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Speaker 5: is currently not hitting, after telling Axios earlier this morning

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Speaker 5: that there is quote practically nothing left for the US

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Speaker 5: to strike. I will point out that earlier this week

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Speaker 5: President Trump did threaten to hit electricity infrastructure in Iran

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Speaker 5: if disruptions through the Strait of Hormuz continue, and as

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Speaker 5: you well know, they are continuing. In fact, President Trump

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Speaker 5: went on to say that the US has zeroed in

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Speaker 5: on targeting Iranian mine laying ships after Sencon gave an

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Speaker 5: update earlier this morning saying that sixteen such vessels have

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Speaker 5: been destroyed, and a bit to try to quell some

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Speaker 5: of the volatility, we're seeing an energy around to the

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Speaker 5: disruptions in the Strait of Promus. You guys mentioned that

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Speaker 5: we're going to see this historic release when it comes

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Speaker 5: to the International Energy Agency. The thing is, there are

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Speaker 5: big questions here about the pace and the duration. It's

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Speaker 5: not as easy as just flipping on a switch, and

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Speaker 5: it's expecting to fall short of the now supply gap.

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Speaker 5: And that is why it was actually so interesting to

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Speaker 5: hear from the head of the IEA saying that ultimately

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Speaker 5: the number one thing that could be done to stabilize

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Speaker 5: the oil markets is to make sure that the strait

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Speaker 5: of PREMUS remains open.

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Speaker 3: So that is going to be something that we.

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Speaker 5: Watch really closely here because President Trump is really starting

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Speaker 5: to play defense on the issue as these higher prices

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Speaker 5: trickle down to retail gasoline. It is our understanding that

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Speaker 5: the administration is still mulling a few different options that

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Speaker 5: they could tap to help bring down prices, including potentially

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Speaker 5: floating a federal gas tax holiday, though that would require

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Speaker 5: congressional approval. We're also hearing the idea of waiving what's

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Speaker 5: known as the Jones Act, which mandates that vessels that

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Speaker 5: transport goods between US ports have to be on US

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Speaker 5: flagged ship So that's another thing to watch out for

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Speaker 5: as President Trump heads on this next leg of his

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Speaker 5: affordability tour today in Ohio and Kentucky.

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Speaker 6: Yeah, I haven't heard the Jones Act and Vote in

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Speaker 6: a minute here, Tyler, I'm just looking at gas prices.

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Speaker 6: Triple A's got the average for Ohio at three dollars

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Speaker 6: and forty four cents. The average in Kentucky, where he'll

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Speaker 6: be later on is almost three dollars and twenty cents

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Speaker 6: three nineteen. What kind of an address are we going

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Speaker 6: to get when he speaks in Kentucky later? Is the

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Speaker 6: White House telling us anything about this part? Will he

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Speaker 6: acknowledge gas prices in this speech tonight?

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Speaker 5: Well, we'll have to wait and see, because we know

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Speaker 5: that the administration is going to try to push forward

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Speaker 5: their economic agenda. As polling has been telling us that

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Speaker 5: Americans are growing increasingly concerned, particularly when it comes to

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Speaker 5: energy prices. We got this new EPSOS pull out earlier

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Speaker 5: this week. I know Cliff Young comes on this program

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Speaker 5: a decent amount, and his polling is finding that sixty

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Speaker 5: seven percent of US adults are concerned that gas prices

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Speaker 5: are going to get higher as the year goes.

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Speaker 3: Now we have gotten in a preview for.

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Speaker 5: His Ohio event that's expected to focus more on pharmaceutical

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Speaker 5: pricing and President Trump's efforts to lower the cost of

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Speaker 5: prescription drugs. We'll see what happens in Kentucky. That one

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Speaker 5: may be a little bit more of a fiery speech.

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Speaker 5: As you both know, he's going to Boone County, Kentucky.

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Speaker 5: That's the fourth congressional district represented by Thomas Nassey, persistent,

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Speaker 5: perhaps thorn in the side of President Trump. I think

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Speaker 5: it is more than fair to say on a range

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Speaker 5: of issues, including when it.

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Speaker 3: Comes to Iran.

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Speaker 4: Tyler, thank you so much.

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Speaker 6: Let from the White House, Bloomberg's Tyler Kendall, I got

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Speaker 6: into the matter of Tom Massey. Indeed, President Trump will

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Speaker 6: be in Massy's district later today when he speaks from

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Speaker 6: Boone County, and we'll bring you some of his remarks

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Speaker 6: if he's making news there. I spoke with Tom Massey's

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Speaker 6: colleague in the Upper Chamber, Ran Paul, the Republican Senator

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Speaker 6: from Kentucky, who is not a fan of what is

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Speaker 6: happening with the war in Iran. As I mentioned earlier,

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Speaker 6: arguably the Republican face of the War powers debate in

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Speaker 6: the Senate. He's also the man who is going to

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Speaker 6: have to shepherd the confirmation process for the next Secretary

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Speaker 6: of Homeland Security, as Ran Paul is the chair of

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Speaker 6: the Senate Homeland Security Committee. We started with the matters

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Speaker 6: of war and peace, however, and I asked him if

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Speaker 6: he believed this war in Iran was illegal.

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Speaker 4: Here's what he said.

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Speaker 7: Well, you know the thing about the debate over awards,

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Speaker 7: one of the most important debates we have. Our founding

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Speaker 7: fathers had an extensive discussion over this, the Constitutional Convention,

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Speaker 7: the Federalist papers.

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Speaker 8: They all had strong feelings.

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Speaker 7: But interesting, even though there were differences between Hamilton and Jefferson,

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Speaker 7: really they all came together and said they didn't want

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Speaker 7: the president of the power to initiate or declare war.

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Speaker 8: They wanted that power to be with Congress.

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Speaker 7: So this is a very important, if not the most

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Speaker 7: important congressional debate we have over war powers and over

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Speaker 7: the Constitution. And yeah, I think the Constitution's very clear

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Speaker 7: you go to war and warship be initiated through Congress.

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Speaker 7: And the reason our founding fathers made it so is

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Speaker 7: they didn't like war. They wanted war to be less often,

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Speaker 7: They wanted war to be a rarity, not common.

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Speaker 4: So last week.

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Speaker 6: Then in that failed vote, Congress voted to abdicate its

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Speaker 6: duties its powers.

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Speaker 7: Yeah, the War Powers Act. A lot of people confused it.

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Speaker 7: They say, always just a reporting requirement. President has to

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Speaker 7: report after sixty days. It's really much more than that

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Speaker 7: because it acknowledges the first part of the War Powers

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Speaker 7: Act says you have to have either a decoration of

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Speaker 7: war or a vote to authorize for us, or there

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Speaker 7: has to be imminent danger. That's really what our judgment

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Speaker 7: should be. And so many of the arguments that came

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Speaker 7: from this administration really don't hold water. I said, well,

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Speaker 7: they've been at war with US for forty seven years,

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Speaker 7: and I said, well, that doesn't sound very imminent. That

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Speaker 7: kind of sounds like you might have had time to

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Speaker 7: come to Congress and get a decoration of war.

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Speaker 4: Absolutely, it sounds like you see this as an illegal action.

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Speaker 7: Then yeah, I don't think this is what our founding

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Speaker 7: fathers intended, is not what the Constitution intends. And so

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Speaker 7: I continue to support these War Powers Action to try

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Speaker 7: to limit the executs the same way I would under

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Speaker 7: and did under President Obama and President Biden as well.

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Speaker 6: So will that make it difficult for you to vote

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Speaker 6: to support a supplemental budget request, assuming that does arrive.

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Speaker 4: As we've heard, I think.

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Speaker 7: The biggest threat to our country, into our national security,

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Speaker 7: is our debt, and so I think adding more to

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Speaker 7: our debt doesn't make us safeer. It actually will make

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Speaker 7: us make it more in danger to be further in debt.

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Speaker 7: So the administration has said they want to increase the

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Speaker 7: budget by fifty percent. Yes, that sounds like a large increase,

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Speaker 7: from a trillion to one point five trillion, and then

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Speaker 7: in the meantime they may ask for another fifty billion

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Speaker 7: or so, maybe one hundred. Already talking about, well, we

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Speaker 7: got to give the farmers some money. You know, the

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Speaker 7: tariffs aren't so good for farmers, and instead of removing

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Speaker 7: the tariffs.

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Speaker 8: That are hurting the farmers, they're going to give the

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Speaker 8: farmers some money.

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Speaker 7: And then they're like, well, we've had had some disasters

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Speaker 7: around here, so we're going to do military disasters, you know,

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Speaker 7: stipeend for the farmers since the tariff arting them. It'll

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Speaker 7: be a mess, and it'll be something that anybody's fiscally

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Speaker 7: conservative will not.

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Speaker 4: So you're in no regardless of the number, soundly.

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Speaker 7: Because right now our military we spend more on our

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Speaker 7: military than the next ten countries combined. So for people

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Speaker 7: to argue we're not spending enough, we're spending more than

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Speaker 7: the next ten countries combined. We spend plenty on our military, at.

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Speaker 8: Least be spent wisely.

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Speaker 7: But they've spent an extraordinary amount on two wars event

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Speaker 7: two wars in one month. I mean, for goodness sakes,

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Speaker 7: they're talking about another war with Cuba as we speak, right. So, yeah,

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Speaker 7: they cost money. They cost laws most importantly, but they

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Speaker 7: also cost money. And I'm just not for I'm not

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Speaker 7: wasn't for the war in Venezuela, I'm not for the

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Speaker 7: war in Iran, and I'm certainly not for a war

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Speaker 7: with Cuba.

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Speaker 6: You're chairman of the Committee on Homeland Security. Are you

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Speaker 6: hearing about domestic terror threats that we need to know about?

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Speaker 6: This has been a great concern about sleeper cells, about

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Speaker 6: lone wolves. Has that threat increased because of this?

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Speaker 7: Actually, I don't have specific knowledge that it has. We

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Speaker 7: have not had any specific briefing to say it has.

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Speaker 7: But I'm not here argue that it isn't a potential problem.

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Speaker 7: I think anytime you're at war, there is the potential

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Speaker 7: for you know, terrorist actions.

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Speaker 8: I think we already had, you know, one.

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Speaker 7: Shooting in Texas that people said it was related to

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Speaker 7: the terrorism.

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Speaker 4: End of the war.

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Speaker 6: Yeah, some have worried that the fact that DHS, the department,

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Speaker 6: not your committee, is closed right now is making us

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Speaker 6: less safe. It is the ability for DHS to come

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Speaker 6: back domestic terror threats compromised by this closure.

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Speaker 7: Yeah, I don't know how much DHS actually does. I

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Speaker 7: don't know those people who believe. Of course, the FBI

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Speaker 7: has an important task in trying to look for people

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Speaker 7: who are in the country that might harm us. There

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Speaker 7: are aspects of crossing of borders that make a difference.

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Speaker 8: But you know, I'm one of.

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Speaker 7: Those who after nine to eleven thought, gosh, we're just

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Speaker 7: going to create these enormous bureaucracies. It costs a lot

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Speaker 7: of money, but don't necessarily make us safer. Interesting, So

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Speaker 7: I would rather the money probably be spent specifically on

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Speaker 7: detailed defenses against terrorism, as opposed to it being bloated bureaucracy,

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Speaker 7: which is what the Department from MyD security has become.

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Speaker 6: Well, I know that you've got TSA workers who are

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Speaker 6: going to start missing paychecks if they aren't already. I

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Speaker 6: understand that Global Entry is being reopened, which I thought

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Speaker 6: was an interesting headline this morning, considering the strain on

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Speaker 6: the system. How long can tsa hold up without getting paid.

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Speaker 8: I've been for a reform of this, So I think

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Speaker 8: what we should do.

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Speaker 7: If you work for the government and I have a

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Speaker 7: contract and I pay you eighty thousand dollars a year,

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Speaker 7: it's a breach of contract. We should just keep paying everybody.

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Speaker 7: The appropriations could be for a lot of other things

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Speaker 7: that are optional, but the employment is not so optional,

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Speaker 7: particularly of like air traffic controllers.

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Speaker 8: I fly all the time.

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Speaker 7: Frankly, I want my air traffic controller to be well paid, yes,

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Speaker 7: well rested.

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Speaker 8: And not unhappy when he or she comes to work.

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Speaker 7: So there is a reform that's floated around, and I've

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Speaker 7: voted for it several times. And this is you know,

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Speaker 7: this isn't the first time, or it won't be the

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Speaker 7: last time there's a debate overfunding. The debate is actually healthy.

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Speaker 7: What is unhealthy is that not paying workers. And so

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Speaker 7: I think the workers, if they're working, ought to be paid,

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Speaker 7: and so I'm for a reform that anytime we have

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Speaker 7: a shutdown, the contract aspect of the workers that we

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Speaker 7: pay should just go on despite the impass.

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Speaker 6: Well, so what's it going to take to reopen this agency?

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Speaker 6: And would maybe a new secretary do the trick? You're

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Speaker 6: going to be tasked with this confirmation process?

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Speaker 8: Have you scheduled a hearing next week? Give all the PaperWorks?

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Speaker 7: There has to be an FBI background check, and there

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Speaker 7: has to be some ethics documents, and the minority party

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Speaker 7: has to have a certain amount of days to look.

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Speaker 8: At these understood, these are the things we agree to.

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Speaker 7: If it can all be done, We're going to try

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Speaker 7: to do the hearing and the vote next week. But

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Speaker 7: I think that overall my suggestion, I'm not sure they're

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Speaker 7: going to listen to me. My suggestion would be to

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Speaker 7: acknowledge that there have been failures with ICE and that

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Speaker 7: they're coming out with new policies and new regulations as

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Speaker 7: to how their agents behave. When I had the agent

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Speaker 7: and it's come in recently, the head of ICE and

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Speaker 7: the head of the Border Patrol, I asked him that

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Speaker 7: specific question. You know, if I'm me to you and

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Speaker 7: i'm the ICE agent, you're yelling at me. He said,

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Speaker 7: okay for me to lunge at you and spray you

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Speaker 7: right in the face with pepper spray for your words.

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Speaker 7: And he said no, but that's what we were seeing

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Speaker 7: in all of those images. We saw women thrown to

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Speaker 7: the ground for yelling at officers. And nobody likes to

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Speaker 7: be yelled at, but that is part of America. People

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Speaker 7: are going to yell at you, and as long as

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Speaker 7: it's words, we shouldn't be reacting in a physical way.

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Speaker 8: So I think guys needs to announce that.

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Speaker 7: They kind of in our hearing admitted that all the

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Speaker 7: actions that we were seeing in these videos wasn't appropriate,

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Speaker 7: but there was also a lot of denial going on,

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Speaker 7: and I'm looking to see if it's going to be

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Speaker 7: any different, and frankly, that would be I recommendation and announce.

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Speaker 8: And Homan kind of did some of this.

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Speaker 7: They removed people from the streets, they quit doing the confrontation,

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Speaker 7: and they also said that agents that misbehaved would be punished.

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Speaker 7: None of that was happening before Tom Homan showed up

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Speaker 7: up and gave a little more professionalism to the things

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Speaker 7: that were going on in Minnesota. Really, since he showed

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Speaker 7: up and removed to the streets, you haven't seen a

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Speaker 7: whole lot of right of footage coming out of Minnesota.

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Speaker 4: De masking has been a line for most Republicans. Is

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Speaker 4: it for you?

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Speaker 8: I think that there might be a time when a

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Speaker 8: mask might.

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Speaker 7: Be appropriate if you're on the border and you're dealing,

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Speaker 7: you know, the in the thicker battle with cartels. Maybe

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Speaker 7: if you're in an elevator in the in the courthouse

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Speaker 7: in Chicago, I saw one image of mask agents going in.

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Speaker 7: It was three or four moms and ten kids, and

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Speaker 7: you know, basically rounding them all up and being masked. Look,

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Speaker 7: the bailiffs aren't masked, the Chicago police aren't masked. So

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Speaker 7: I think in our cities, in areas where the other

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Speaker 7: police officers are masked, there's no reason why one set

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Speaker 7: of federal officials should be masked and another set shouldn't be.

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Speaker 7: So I won't say it's an absolute that no masks,

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Speaker 7: but I would say when you're participating where other law

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Speaker 7: enforcement isn't, I don't think it's anonymity.

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Speaker 8: I think leads to bad behavior.

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Speaker 3: Interesting.

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Speaker 6: What do you make of the nomination of Senator Mark

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Speaker 6: Wayne Mullen And did the senator from Oklahoma jeopardize his

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Speaker 6: standing with you with some of the colorful language he

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Speaker 6: used to describe you last month.

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Speaker 4: You'll felt this yearman a snake.

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Speaker 7: You'll find out more if you come to the nomination area.

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Speaker 7: I promise you Neil will be a good and fullsome hearing.

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Speaker 6: Okay, sounds like everyone sees him getting this job, though,

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Speaker 6: will he be confirmed in.

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Speaker 8: The end, We'll see, Okay.

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Speaker 6: President Trumps on his way to Kentucky today, the affordability

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Speaker 6: tour lands in Tom Massey's district. What are people in

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Speaker 6: Kentucky telling you about three dollars and twenty cent gas?

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Speaker 4: Right now?

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Speaker 7: You know I'm a big supporter of Thomas Massey. I

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Speaker 7: have campaigned with him, We'll continue to campaign with him.

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Speaker 7: He released some material yesterday that was pretty extraordinary. His

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Speaker 7: opponent actually, when Donald Try won the nomination in twenty sixteen,

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Speaker 7: left the party.

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Speaker 8: In discussed.

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Speaker 7: So it's ironic that the president is now supporting a

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Speaker 7: guy who hated Donald Trump so much that he left

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Speaker 7: the party only came back into the party when Joe

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Speaker 7: Biden became president. So there is a certain amount of

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Speaker 7: irony there, and voters actually know this stuff, and this

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Speaker 7: will be all over It is all over television right

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Speaker 7: now that his opponent basically left the party because of

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Speaker 7: Donald Trump.

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Speaker 8: Well, so can he get over that irony? I don't know.

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Speaker 7: I think a lot of people are going to say, well,

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Speaker 7: what's up with this? You know, But there's a lot

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Speaker 7: of respect for Thomas Massey.

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Speaker 8: I mean, look, he took an issue.

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Speaker 7: That the President had promoted, revealing the Epstein files.

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Speaker 8: President was all for it.

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Speaker 7: Thomas Massey took that issue and ran with it, and

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Speaker 7: issue the President supported until the President didn't support the

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Speaker 7: issue anymore.

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Speaker 4: But think about the.

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Speaker 7: Effectiveness of a guy who only had three Republican allies

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Speaker 7: when it started and in the end passed it unanimously

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Speaker 7: in the House, passed it unanimously in the Senate when

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Speaker 7: the President signed it. That is an extraordinary feat. So

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Speaker 7: I think a lot of people see that Thomas fact.

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Speaker 7: Thomas Massey's quite effective, and I would say he's also

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Speaker 7: the most fiscally conservative member of the House.

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Speaker 8: It's a conservative district. I think he's actually doing pretty

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Speaker 8: well well.

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Speaker 6: Indeed, you have a lot in common and to your point,

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Speaker 6: you will campaign for him for his re election, absolutely,

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Speaker 6: And do you have.

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Speaker 4: Plans to be on the stumping time soon?

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Speaker 7: I've already done two days with him. I have two

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Speaker 7: days coming up in two weeks and we just added

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Speaker 7: another two days, so I will spend a lot of

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Speaker 7: time in the district. We're raising money for him, and

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Speaker 7: he will be outspent. They'll probably spend twenty to thirty

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Speaker 7: million trying to defeat a Republican, which really is to

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Speaker 7: me a waste of.

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Speaker 8: Money to try to beat a Republican.

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Speaker 7: But they're also trying to beat the most conservative member

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Speaker 7: of the House of Representatives, and the irony is not

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Speaker 7: lost on a lot of people.

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Speaker 4: And you think he keeps his job. It sounds like I.

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Speaker 7: Think he has a very good chance of winning. It

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Speaker 7: won't be easy, you know, but I think he has

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Speaker 7: a very good chance of still winning.

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Speaker 6: Senator Ran Paul talking with us earlier on Capitol Hill,

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Speaker 6: we should not. The President is on his way on

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Speaker 6: Air Force one to first Ohio, then Kentucky, where he'll

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Speaker 6: be speaking around four thirty pm Eastern time.

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Speaker 4: Boone County indeed the home of Tom Massey.

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Speaker 6: Kaylee lines the President on truth Social I predict Representative

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Speaker 6: Thomas Massey will go down as the worst Republican Congressman

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Speaker 6: in the long and fabled history of the United States Congress.

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Speaker 6: He has a few examples to list there, and goes

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Speaker 6: on to say that Massey, who is running against a

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Speaker 6: great American patriot in the Kentucky primary, will hopefully lose.

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Speaker 4: Big. I suspect we'll hear a lot about that later on.

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Speaker 2: Yeah, well, we did hear about that from Tom Massey himself,

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Speaker 2: who posted in response to that on x I predict

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Speaker 2: President dj T will be grudgingly signed my beautiful Epstein

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Speaker 2: Files Transparency Act. Oh wait, that already happened, so clearly

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Speaker 2: there's a bit of back and forth, as you allude to, Joe,

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Speaker 2: I imagine we're going to get quite a bit of

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Speaker 2: commentary from President Trump about Thomas Massey, in particular, even

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Speaker 2: though he's purportedly going to be in his district to

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Speaker 2: talk about affordability express he is also doing in Ohio.

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Speaker 2: And I would imagine beyond that too, the President's probably

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Speaker 2: going to straight into the question of Iran, as he

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Speaker 2: did when he was beginning his travels.

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Speaker 6: Well, that's right, White award that Ram Paul calls illegal.

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Speaker 6: This is going to be an interesting bit of conversation

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Speaker 6: later on today. And we should note, by the way,

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Speaker 6: having spent some time with Ram Paul. We're going to

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Speaker 6: be joined by Democratic Senator Alyssa Slotkin on the late

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Speaker 6: edition of Balance of Power.

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Speaker 2: Yeah, it'll be interesting to see how much overlap there

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Speaker 2: actually is between those two on this issue, knowing that

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Speaker 2: Senator Paul is kind of a lone Republican voice in

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Speaker 2: being more critical of the war and specifically pushing back

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Speaker 2: on the idea that the military needs more funding for

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Speaker 2: it as we grapple with the notion that a supplemental

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Speaker 2: funding request could be coming. So there is a lot

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Speaker 2: to get into. It's a great conversation.

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Speaker 6: Well, we're glad to spend some time with the Senator,

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Speaker 6: a conversation you won't see or hear anywhere else today.

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Speaker 6: Put right here on Bloomberg TV and Radio. Stay with

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Speaker 6: us on Balance of Power. We'll have much more coming

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Speaker 6: up after this.

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Speaker 1: You're listening to the Bloomberg Month of Power podcast. Catch

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Speaker 1: us live weekdays at noon and five pm Eastern on Apple,

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Speaker 1: New York station Just Say Alexa played Bloomberg eleven thirty.

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Speaker 4: The President has just left us.

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Speaker 6: He's on his way outside of the Bubble to Ohio

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Speaker 6: and Kentucky, but made a bit of news before he

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Speaker 6: left Kaylee. Having spoken with Axios by phone this morning,

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Speaker 6: the President we alluded to this at the top of

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Speaker 6: the hour, said we're practically out of targets in Iran.

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Speaker 6: He had a very different approach when he talked to

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Speaker 6: reporters in the driveway, suggesting that there's much more in

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Speaker 6: store for the Iranians, who of course are making it

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Speaker 6: clear that they're not interested right now in a ceasefire.

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Speaker 6: The President said, by the way, we have eliminated nearly

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Speaker 6: all of Iran's mining ships. There I guess could be

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Speaker 6: a couple of left. They were inactive at the time.

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Speaker 6: And he said, despite some reports indicating otherwise yesterday Kaylee,

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Speaker 6: that no mining has begun. Iran has not begun mining

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Speaker 6: the Straight or four moves well.

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Speaker 2: And of course that is a crucial question that needs

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Speaker 2: to be answered, especially for the operators of these tankers,

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Speaker 2: of these vessels that are considering trains it is for

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Speaker 2: straight and bringing oil or natural gas whatever product along

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Speaker 2: with them. The President said when he spoke to reporters

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Speaker 2: that companies should feel safe doing this, that US oil

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Speaker 2: companies should, But that kind of speaks to the idea

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Speaker 2: that this isn't necessarily up to President Trump. It is

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Speaker 2: up to private businesses to make these calculated decisions around risks,

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Speaker 2: and they might not necessarily feel safe, especially when there's

441
00:20:31,800 --> 00:20:34,280
Speaker 2: been a bit of dispute about whether US naval escorts

442
00:20:34,280 --> 00:20:36,359
Speaker 2: are happening for these vessels. The White House says no,

443
00:20:36,480 --> 00:20:38,919
Speaker 2: despite what the Energy Secretary Chris Wright tweeted.

444
00:20:38,960 --> 00:20:40,400
Speaker 8: Yeah, we had for a second yesterday.

445
00:20:40,440 --> 00:20:41,960
Speaker 6: For a second, it was up and it was down,

446
00:20:42,000 --> 00:20:44,800
Speaker 6: all within the confines of this hour, I believe at

447
00:20:44,800 --> 00:20:47,600
Speaker 6: this time yesterday. And in that video that he had

448
00:20:47,600 --> 00:20:50,560
Speaker 6: posted and later removed, it was from an event that

449
00:20:50,600 --> 00:20:52,560
Speaker 6: was held in Colorado, I guess a couple of days ago.

450
00:20:52,600 --> 00:20:54,639
Speaker 6: He said the United States is now buying into the

451
00:20:54,720 --> 00:20:57,760
Speaker 6: insurance business, and that remains an offer by the President.

452
00:20:57,800 --> 00:21:00,840
Speaker 4: We just haven't seen that enacted yet, which all speaks.

453
00:21:00,560 --> 00:21:02,560
Speaker 2: To the costs of what's happening in the Middle East,

454
00:21:02,560 --> 00:21:04,920
Speaker 2: which is something you spoke about with Senator Rand Paul

455
00:21:04,960 --> 00:21:06,480
Speaker 2: as well. The idea of the White House meaning to

456
00:21:06,480 --> 00:21:08,560
Speaker 2: come and ask Congress for more money for this. So

457
00:21:08,680 --> 00:21:10,560
Speaker 2: let's get into all of this now with our political panel.

458
00:21:10,560 --> 00:21:13,840
Speaker 2: Bloomberg Politics contributors Rick Davis and Jeanie Shanzano are with us. Rick,

459
00:21:13,880 --> 00:21:16,520
Speaker 2: of course, republican strategist Stone Court Capital partner, Genie our

460
00:21:16,560 --> 00:21:19,600
Speaker 2: democratic analyst and democracy visiting fellow at the Harvard Kennedy

461
00:21:19,600 --> 00:21:23,400
Speaker 2: Schools ASH Center. Welcome to you both. Rick, I feel

462
00:21:23,440 --> 00:21:24,879
Speaker 2: like every time we talk to you, and we do

463
00:21:24,920 --> 00:21:28,200
Speaker 2: so frequently, we're asking a similar question about what exactly

464
00:21:28,240 --> 00:21:30,679
Speaker 2: the message is that President Trump of the administration is

465
00:21:30,760 --> 00:21:33,119
Speaker 2: trying to send when it comes to Iran?

466
00:21:33,600 --> 00:21:35,399
Speaker 3: Right now, what's your best guess?

467
00:21:36,560 --> 00:21:39,560
Speaker 9: Well, I think they're in the declared victory mode. From

468
00:21:39,600 --> 00:21:42,600
Speaker 9: what I can tell, the President has sort of been

469
00:21:42,600 --> 00:21:44,760
Speaker 9: testing out a lot of different messages over the course

470
00:21:44,800 --> 00:21:47,840
Speaker 9: of the last couple of days. What we heard as

471
00:21:47,880 --> 00:21:51,680
Speaker 9: he was boarding a flight earlier today is that, you know,

472
00:21:51,720 --> 00:21:54,159
Speaker 9: he's gone through the list. He's you know, we've destroyed

473
00:21:54,160 --> 00:21:56,640
Speaker 9: the Air Force, We've destroyed their ground radar, we've destroyed

474
00:21:56,640 --> 00:22:00,240
Speaker 9: their missile systems. I mean, you know, we've destroyed their leadership.

475
00:22:00,880 --> 00:22:04,000
Speaker 9: He's like, we barely have anything else to target anymore.

476
00:22:04,760 --> 00:22:06,679
Speaker 9: But then he under his brother Hills, but there are

477
00:22:06,720 --> 00:22:09,000
Speaker 9: other things we can target. So at the end of

478
00:22:09,040 --> 00:22:11,760
Speaker 9: the day. I think what you see is like a

479
00:22:12,000 --> 00:22:18,000
Speaker 9: materialization of the administration sort of talking themselves into job done.

480
00:22:19,040 --> 00:22:22,320
Speaker 9: You know, we did exactly what we said we were

481
00:22:22,320 --> 00:22:29,040
Speaker 9: going to do, and we've disrupted Iran's ability to spread

482
00:22:29,400 --> 00:22:30,240
Speaker 9: terror throughout the.

483
00:22:30,200 --> 00:22:31,639
Speaker 4: Region and at home.

484
00:22:32,119 --> 00:22:35,320
Speaker 9: And I wouldn't be surprised that we see a lot

485
00:22:35,359 --> 00:22:37,520
Speaker 9: of this winding down over the course of the next week.

486
00:22:38,840 --> 00:22:41,360
Speaker 9: In fact, I would be shocked if the pace continues

487
00:22:42,119 --> 00:22:46,600
Speaker 9: as brisk as it is. And we've seen really significant

488
00:22:46,680 --> 00:22:49,320
Speaker 9: bombing attacks by both Israel and the United States over

489
00:22:49,320 --> 00:22:53,040
Speaker 9: the last couple of days. It's pretty clear, both in

490
00:22:53,160 --> 00:22:56,080
Speaker 9: Israel and in other parts of the Middle East that

491
00:22:56,280 --> 00:23:01,320
Speaker 9: Iran has significantly reduced their attacks on those target There

492
00:23:01,440 --> 00:23:04,640
Speaker 9: just simply aren't as many missiles being lobbed into these

493
00:23:04,680 --> 00:23:07,639
Speaker 9: areas that there were in the early stages of this campaign,

494
00:23:08,119 --> 00:23:11,520
Speaker 9: and that may indicate a level of weakness in the

495
00:23:11,520 --> 00:23:12,960
Speaker 9: ability for around.

496
00:23:12,720 --> 00:23:13,439
Speaker 4: The counter attack.

497
00:23:13,800 --> 00:23:17,480
Speaker 9: So lots to see happening over the course of the weekend,

498
00:23:18,480 --> 00:23:22,360
Speaker 9: but I can imagine coming out of next weekend this weekend,

499
00:23:22,840 --> 00:23:26,240
Speaker 9: we see an administration in full victory mode.

500
00:23:27,720 --> 00:23:28,160
Speaker 4: Interesting.

501
00:23:28,200 --> 00:23:32,000
Speaker 6: Senator Chris Murphy has been busy on Twitter Genie, of course,

502
00:23:32,040 --> 00:23:35,600
Speaker 6: an important foreign policy voice on the democratic side of

503
00:23:35,640 --> 00:23:37,160
Speaker 6: the island. He says, I was in a two hour

504
00:23:37,240 --> 00:23:41,000
Speaker 6: briefing today on the Iran war. All the briefings are

505
00:23:41,000 --> 00:23:43,480
Speaker 6: closed because Trump cannot defend this war in public, and

506
00:23:43,520 --> 00:23:46,080
Speaker 6: he says, of course he can't disclose classified information, but

507
00:23:46,119 --> 00:23:49,480
Speaker 6: you deserve to know how incoherent and incomplete these war

508
00:23:49,560 --> 00:23:54,240
Speaker 6: plans are. This is a multi post thread here. Maybe

509
00:23:54,280 --> 00:23:56,480
Speaker 6: the lead, he says, is the war goals do not

510
00:23:56,760 --> 00:24:02,200
Speaker 6: involve destroying Iran's nuclear weapons program. They confirmed regime change

511
00:24:02,320 --> 00:24:05,399
Speaker 6: is also not on the list, and he says, okay,

512
00:24:05,400 --> 00:24:06,280
Speaker 6: what are the goals?

513
00:24:06,320 --> 00:24:06,520
Speaker 4: Then?

514
00:24:06,880 --> 00:24:09,560
Speaker 6: It seems primarily destroying lots of missiles and boats and

515
00:24:09,640 --> 00:24:13,280
Speaker 6: drone factories. The question that stumped them what happens when

516
00:24:13,320 --> 00:24:15,879
Speaker 6: you stop bombing and they restart production. They hinted at

517
00:24:15,920 --> 00:24:18,840
Speaker 6: more bombing, which is, of course, he says, endless war.

518
00:24:19,160 --> 00:24:23,200
Speaker 4: Is that how you see this? I don't know how.

519
00:24:23,080 --> 00:24:24,440
Speaker 10: Else we could see it.

520
00:24:24,600 --> 00:24:28,160
Speaker 11: You know, we have a United States government that went

521
00:24:28,240 --> 00:24:31,719
Speaker 11: in to Rick's point, there has been no clear objective

522
00:24:31,880 --> 00:24:35,000
Speaker 11: laid out, but we do hear three things. End their

523
00:24:35,080 --> 00:24:39,240
Speaker 11: nuclear capacity or their ability to build nuclear weapons, get

524
00:24:39,320 --> 00:24:42,199
Speaker 11: rid of their ballistic missiles program and end their support

525
00:24:42,240 --> 00:24:46,159
Speaker 11: of these proxies. To do that, you need regime change,

526
00:24:46,200 --> 00:24:48,280
Speaker 11: and he can't just get rid of a regime. You

527
00:24:48,359 --> 00:24:50,560
Speaker 11: need to get rid of that regime and replace it

528
00:24:50,600 --> 00:24:53,560
Speaker 11: with one that isn't interested in any of those goals,

529
00:24:53,600 --> 00:24:55,639
Speaker 11: and by the way, is also friendly to the United

530
00:24:55,640 --> 00:24:56,479
Speaker 11: States and Israel.

531
00:24:57,000 --> 00:24:58,680
Speaker 10: Exactly the opposite has happened.

532
00:24:59,040 --> 00:25:01,760
Speaker 11: We now have the Iatola's son who has been named

533
00:25:01,800 --> 00:25:06,080
Speaker 11: Supreme Leader. He is reeling from US bombings and Israeli

534
00:25:06,119 --> 00:25:09,600
Speaker 11: bombings that killed his wife, his child, his father.

535
00:25:09,440 --> 00:25:10,959
Speaker 10: And many family members.

536
00:25:11,320 --> 00:25:14,560
Speaker 11: The President is on TV on Fox saying things like, well,

537
00:25:14,600 --> 00:25:18,000
Speaker 11: I might talk to them again, except do we think

538
00:25:18,080 --> 00:25:20,760
Speaker 11: that the new Supreme Leader is in any mood to

539
00:25:20,800 --> 00:25:23,359
Speaker 11: talk to the United States. They did that after the

540
00:25:23,400 --> 00:25:26,280
Speaker 11: Twelve Day War last year and they got bombed again,

541
00:25:26,400 --> 00:25:28,760
Speaker 11: So that seems to be off the table. Not only

542
00:25:28,840 --> 00:25:32,879
Speaker 11: is this regime still going interview of people rallying for

543
00:25:32,960 --> 00:25:36,920
Speaker 11: it in the streets, you have ballistic missiles apparently still there.

544
00:25:37,080 --> 00:25:41,160
Speaker 11: You have nine hundred pounds of nuclear enriched uranium over

545
00:25:41,200 --> 00:25:42,120
Speaker 11: there that's got.

546
00:25:41,880 --> 00:25:44,919
Speaker 10: To be taken out. So any of these sort of

547
00:25:45,000 --> 00:25:48,200
Speaker 10: objectives as we've heard them. None of them have been achieved.

548
00:25:48,240 --> 00:25:51,040
Speaker 11: And the President, for all of his sort of bravado

549
00:25:51,160 --> 00:25:53,840
Speaker 11: and gro talk about how well we're doing and we've

550
00:25:53,880 --> 00:25:55,960
Speaker 11: destroyed them, and we've done this, and we've done that,

551
00:25:56,359 --> 00:25:59,760
Speaker 11: he can't point to one objective that he has achieved.

552
00:26:00,119 --> 00:26:04,159
Speaker 11: And he can't even convince ardent supporters like Joe Rogan

553
00:26:04,400 --> 00:26:07,280
Speaker 11: that any of this makes any sense or we should

554
00:26:07,320 --> 00:26:09,080
Speaker 11: be putting up with the pain at the gas pump

555
00:26:09,320 --> 00:26:12,000
Speaker 11: and the loss of American lives because of what he

556
00:26:12,080 --> 00:26:12,880
Speaker 11: decided to do.

557
00:26:13,320 --> 00:26:16,320
Speaker 10: This is an enormous disaster for the president.

558
00:26:16,560 --> 00:26:18,719
Speaker 11: Hence his call with Vladimir Putin, who may be the

559
00:26:18,720 --> 00:26:22,480
Speaker 11: only way and the only person who can negotiate potentially

560
00:26:22,520 --> 00:26:23,080
Speaker 11: an end to this.

561
00:26:23,200 --> 00:26:24,360
Speaker 10: That call he had yesterday.

562
00:26:26,720 --> 00:26:29,480
Speaker 2: Well, when we consider the idea of regime change, Rick

563
00:26:29,560 --> 00:26:31,640
Speaker 2: Senator Lindsay Graham, who of course has been a big

564
00:26:31,680 --> 00:26:34,959
Speaker 2: proponent an advocate for this action in Iran, has clearly

565
00:26:35,000 --> 00:26:37,639
Speaker 2: been frankly thrilled with what he has seen over the

566
00:26:37,640 --> 00:26:40,240
Speaker 2: course of the last twelve days, has suggested this cannot

567
00:26:40,240 --> 00:26:43,920
Speaker 2: be successful. You cannot have complete victories. The President has

568
00:26:43,920 --> 00:26:47,160
Speaker 2: said he wants if the Iyatola son effectively is still

569
00:26:47,160 --> 00:26:50,440
Speaker 2: in charge if that is who ultimately replaces the late

570
00:26:50,560 --> 00:26:53,400
Speaker 2: Supreme Leader, how loud a voice is that in President

571
00:26:53,440 --> 00:26:56,360
Speaker 2: Trump's ear? Knowing that it does seem that Linday Graham

572
00:26:56,359 --> 00:26:58,440
Speaker 2: has had a great deal of influence on this so far.

573
00:26:59,280 --> 00:27:01,480
Speaker 9: Well, if you listen Lindsay Graham, he'll tell you that

574
00:27:01,520 --> 00:27:05,280
Speaker 9: he's been a big influence in Donald Trump's heir and

575
00:27:05,320 --> 00:27:07,679
Speaker 9: there certainly is lots of evidence that that may be

576
00:27:07,720 --> 00:27:10,840
Speaker 9: the case. He's certainly getting a lot of blowback from

577
00:27:11,320 --> 00:27:15,359
Speaker 9: mega superstars around the country who feel like Lindsay has

578
00:27:15,480 --> 00:27:19,639
Speaker 9: sort of brought Trump along into the you know, neo

579
00:27:19,760 --> 00:27:24,920
Speaker 9: khon hawk defense world that they campaign heavily against.

580
00:27:25,680 --> 00:27:28,080
Speaker 4: Look, I mean, we have to constantly.

581
00:27:27,600 --> 00:27:31,320
Speaker 9: Remind ourselves that Iran has been the biggest spreader of

582
00:27:31,400 --> 00:27:35,120
Speaker 9: terror around the world, killing thousands of people Americans to boot,

583
00:27:36,000 --> 00:27:39,760
Speaker 9: you know, for forty seven years, and and so you know,

584
00:27:40,040 --> 00:27:42,520
Speaker 9: we're not dealing with a regime that has any good

585
00:27:42,680 --> 00:27:47,080
Speaker 9: track record. And if you go to Israel today, you

586
00:27:47,200 --> 00:27:51,320
Speaker 9: find every opposition politician who don't have any love for

587
00:27:51,359 --> 00:27:55,320
Speaker 9: bb Nityahu praising him for the gallantry that he has

588
00:27:55,359 --> 00:27:59,960
Speaker 9: shown in trying to extinguish an existential threat to that state.

589
00:28:00,240 --> 00:28:03,920
Speaker 9: So when you look at the various audiences at work here,

590
00:28:03,960 --> 00:28:07,800
Speaker 9: and certainly Lindsey Graham is sensitive to the security of Israel,

591
00:28:08,080 --> 00:28:10,159
Speaker 9: you wouldn't be surprised that he would be such a

592
00:28:10,240 --> 00:28:11,960
Speaker 9: cheerleader for this kind of an initiative.

593
00:28:13,160 --> 00:28:17,720
Speaker 6: Rick Genie mentioned the new Supreme Leader, the new ayatz Hola,

594
00:28:17,800 --> 00:28:21,879
Speaker 6: who is reportedly not only mourning the loss of family members,

595
00:28:21,920 --> 00:28:26,720
Speaker 6: as Genie mentioned, but he's trying to heal from injuries

596
00:28:26,760 --> 00:28:31,159
Speaker 6: sustained in one of our strikes in the early going here,

597
00:28:32,320 --> 00:28:37,520
Speaker 6: including injuries to his legs. Reportedly, he's alert and sheltering

598
00:28:37,560 --> 00:28:41,400
Speaker 6: at a highly secure location with limited communication. Based on

599
00:28:41,440 --> 00:28:45,760
Speaker 6: your experience with the American and Israeli militaries, Rick, is

600
00:28:45,800 --> 00:28:47,440
Speaker 6: this an individual who's going to see the end of

601
00:28:47,440 --> 00:28:50,320
Speaker 6: the week. Can he even go outside?

602
00:28:50,560 --> 00:28:53,080
Speaker 9: Well, I don't think there's any hesitation based on what

603
00:28:53,160 --> 00:28:56,720
Speaker 9: we've seen so far with the strikes of this magnitude

604
00:28:57,400 --> 00:29:00,320
Speaker 9: to not target him. He is just as much a

605
00:29:00,360 --> 00:29:03,520
Speaker 9: target as his father was at the time. He's just

606
00:29:03,600 --> 00:29:07,880
Speaker 9: as opposed to, you know, is Iran entering the world

607
00:29:07,880 --> 00:29:12,080
Speaker 9: community as his father was, and he stands between a

608
00:29:12,160 --> 00:29:15,280
Speaker 9: population that's split on whether they want a religious regime

609
00:29:15,440 --> 00:29:19,440
Speaker 9: or a secular regime. I'm hopeful that if there is

610
00:29:19,480 --> 00:29:24,520
Speaker 9: a secession of military activity, regardless of whether the current

611
00:29:24,560 --> 00:29:28,200
Speaker 9: Supreme Leader survives it or not, that we give a

612
00:29:28,280 --> 00:29:30,800
Speaker 9: chance for the people of Iran to make some choices

613
00:29:30,800 --> 00:29:32,719
Speaker 9: about who's going to run their country and not have

614
00:29:33,200 --> 00:29:36,320
Speaker 9: it imposed upon them by out of touch clerics.

615
00:29:38,160 --> 00:29:40,680
Speaker 2: When we consider Genie the future of Iran as well,

616
00:29:40,720 --> 00:29:44,440
Speaker 2: how is the sentiment about the US in particular going

617
00:29:44,480 --> 00:29:47,160
Speaker 2: to be shaped by the Iranian fatalities we've seen, including

618
00:29:47,360 --> 00:29:50,959
Speaker 2: a report suggesting the US thinks an early report suggest

619
00:29:51,040 --> 00:29:53,440
Speaker 2: it was our Tomahawk missile that hit that elementary school.

620
00:29:54,880 --> 00:29:59,240
Speaker 11: Yeah, it's just devastating and as opposed to taking responsibility

621
00:29:59,320 --> 00:30:03,720
Speaker 11: for that her terrific mistake, which here the President suggested

622
00:30:03,800 --> 00:30:07,120
Speaker 11: that Iran had stolen Tomahawk missiles and had these precision

623
00:30:07,120 --> 00:30:10,400
Speaker 11: missiles and shot them at a girls' school in killing

624
00:30:10,440 --> 00:30:13,240
Speaker 11: them over one hundred and seventy people. There's absolutely no

625
00:30:13,280 --> 00:30:15,640
Speaker 11: evidence of that. If the US did it, it was

626
00:30:15,640 --> 00:30:18,560
Speaker 11: an attempt to hit that navel. We should apologize and

627
00:30:18,600 --> 00:30:22,400
Speaker 11: take responsibility. Horrific and works against everything Rick was saying

628
00:30:22,400 --> 00:30:25,440
Speaker 11: about the people on the ground wanting to work with us.

629
00:30:25,960 --> 00:30:27,960
Speaker 6: Yeah, the President was asked about that we should know

630
00:30:28,040 --> 00:30:29,760
Speaker 6: in the driveway, so that he didn't know anything about

631
00:30:29,800 --> 00:30:32,440
Speaker 6: that finding. Rick Davis and Jeanie Shanzano, thank you both

632
00:30:33,000 --> 00:30:34,200
Speaker 6: for an important conversation.

633
00:30:34,560 --> 00:30:36,720
Speaker 4: Stay with us on Balance of Power. We'll have much

634
00:30:36,760 --> 00:30:37,920
Speaker 4: more coming up after this.

635
00:30:42,240 --> 00:30:45,720
Speaker 1: You're listening to the Bloomberg Balance of Power podcast. Catch

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637
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Speaker 1: flagship New York station Just Say Alexa played Bloomberg eleven thirty.

640
00:31:01,280 --> 00:31:03,880
Speaker 2: Return here to Balance a Power on Bloomberg TV and Radio,

641
00:31:03,880 --> 00:31:05,440
Speaker 2: where we of course try to bring you the facts

642
00:31:05,440 --> 00:31:07,239
Speaker 2: and we never want to be alarmist, but I do

643
00:31:07,280 --> 00:31:10,920
Speaker 2: want to raise call attention to some reporting that just

644
00:31:10,960 --> 00:31:13,440
Speaker 2: came out from ABC News. Who has seen an alert

645
00:31:13,520 --> 00:31:16,840
Speaker 2: or reviewed one that the FBI is warning police departments

646
00:31:16,840 --> 00:31:19,520
Speaker 2: in California in recent days that Iran could retaliate for

647
00:31:19,560 --> 00:31:24,000
Speaker 2: American attacks by launching drones at the West Coast. According

648
00:31:24,040 --> 00:31:27,000
Speaker 2: to ABC's reporting, there's been information acquired that as of

649
00:31:27,040 --> 00:31:30,720
Speaker 2: early February of this year, Iron allegedly aspired to conduct

650
00:31:30,720 --> 00:31:34,320
Speaker 2: a surprise attack using and I'm quoting directly Joe, unmanned

651
00:31:34,360 --> 00:31:37,680
Speaker 2: aerial vehicles from an unidentified vessel off the coast of

652
00:31:37,720 --> 00:31:41,600
Speaker 2: the United States homeland, specifically against unspecified targets in California.

653
00:31:41,640 --> 00:31:44,080
Speaker 2: Now we should note this is just a report by ABC.

654
00:31:44,160 --> 00:31:46,239
Speaker 2: Bloomberg has not verified this. But we did hear from

655
00:31:46,280 --> 00:31:48,760
Speaker 2: President Trump when he was departing the Right House en

656
00:31:48,800 --> 00:31:50,960
Speaker 2: route to Ohio and Kentucky today that he is not

657
00:31:51,200 --> 00:31:54,520
Speaker 2: worried about an Iran backed domestic terror attack.

658
00:31:54,720 --> 00:31:57,640
Speaker 6: I asked Senator Ran Paul, of course, chairs the Homeland

659
00:31:57,640 --> 00:32:01,600
Speaker 6: Security Committee, that very same question, if the closure of

660
00:32:01,680 --> 00:32:06,360
Speaker 6: DHS and the strikes against Iran combined to create more urgency,

661
00:32:06,360 --> 00:32:08,800
Speaker 6: if he was hearing anything he knew of, no credible threats,

662
00:32:09,240 --> 00:32:12,560
Speaker 6: or no increase in chatter even from beforehand. To your point,

663
00:32:12,640 --> 00:32:17,959
Speaker 6: this was information acquired in February. In the event that

664
00:32:18,000 --> 00:32:21,080
Speaker 6: the US conducted strikes against Iran. I can't imagine how

665
00:32:21,080 --> 00:32:23,480
Speaker 6: an unidentified vessel off the coast of California would be

666
00:32:23,480 --> 00:32:24,680
Speaker 6: out there for very long without.

667
00:32:24,520 --> 00:32:26,400
Speaker 4: US knowing about it. But this is a pretty scary report.

668
00:32:26,720 --> 00:32:28,880
Speaker 2: Well, absolutely, and it does call attention to the fact

669
00:32:28,920 --> 00:32:31,000
Speaker 2: that even as President Trump is suggesting the war maybe

670
00:32:31,000 --> 00:32:33,120
Speaker 2: over soon or we're running out of targets, even though

671
00:32:33,120 --> 00:32:35,560
Speaker 2: he doesn't always necessarily stick to that language, that does

672
00:32:35,600 --> 00:32:38,360
Speaker 2: not mean that Iran is willing to throw in the

673
00:32:38,400 --> 00:32:40,120
Speaker 2: towel at this point, or that it is done with

674
00:32:40,160 --> 00:32:41,440
Speaker 2: its own retaliatory measure.

675
00:32:41,480 --> 00:32:44,600
Speaker 6: As the Speaker for the Parliament yesterday said, they're not

676
00:32:44,720 --> 00:32:47,240
Speaker 6: interested in a ceasefire. Right now, I'll mention as well

677
00:32:47,400 --> 00:32:50,720
Speaker 6: a headline just crossed the terminal the IDF. This is Israel,

678
00:32:50,760 --> 00:32:53,719
Speaker 6: of course, detecting launch of missiles from Iran. They are

679
00:32:53,760 --> 00:32:56,520
Speaker 6: working to intercept them as we speak. And this has

680
00:32:56,600 --> 00:33:00,800
Speaker 6: been the deal on a daily basis here. This all

681
00:33:00,960 --> 00:33:05,040
Speaker 6: began just crossing the terminal. Now, as we bring in

682
00:33:05,080 --> 00:33:08,120
Speaker 6: the voice of Patrick McHenry, I'm glad to say, and

683
00:33:08,160 --> 00:33:09,520
Speaker 6: we've got a lot to talk about here that we

684
00:33:09,560 --> 00:33:11,959
Speaker 6: carved out a good chunk of time for the former chairman,

685
00:33:12,000 --> 00:33:15,720
Speaker 6: former Speaker pro tempt, former chairman of the Financial Services Committee.

686
00:33:15,760 --> 00:33:18,880
Speaker 6: I should note Patrick McHenry and Bloomberg Politics contributor, it's

687
00:33:18,880 --> 00:33:19,640
Speaker 6: great to see you.

688
00:33:19,960 --> 00:33:20,440
Speaker 8: To be with you.

689
00:33:20,480 --> 00:33:21,840
Speaker 6: I don't even know where to begin here, so we

690
00:33:21,840 --> 00:33:23,720
Speaker 6: may as well start with rons since we're already talking

691
00:33:23,760 --> 00:33:24,080
Speaker 6: about it.

692
00:33:24,120 --> 00:33:25,520
Speaker 4: War powers are out the window.

693
00:33:26,040 --> 00:33:28,560
Speaker 6: The president appears to have the green light from Congress,

694
00:33:28,560 --> 00:33:30,400
Speaker 6: will he get a blank check when he asks for

695
00:33:30,440 --> 00:33:31,720
Speaker 6: a supplemental.

696
00:33:31,480 --> 00:33:32,880
Speaker 4: That's the question for Congress.

697
00:33:32,920 --> 00:33:38,120
Speaker 12: The war powers resolution process is one that is really

698
00:33:38,280 --> 00:33:41,640
Speaker 12: mostly a partisan football, and this has happened from time

699
00:33:41,680 --> 00:33:45,760
Speaker 12: to time over the last fifty years. The real question

700
00:33:45,840 --> 00:33:49,840
Speaker 12: for Congress is on funding, right. This requires a president

701
00:33:49,840 --> 00:33:51,840
Speaker 12: to go make the case to the American people on

702
00:33:52,080 --> 00:33:55,280
Speaker 12: a timeline and a set of goals. The goals can

703
00:33:55,320 --> 00:33:57,600
Speaker 12: dictate the timeline, right, but you have to have one

704
00:33:57,640 --> 00:34:00,680
Speaker 12: of those public markers right, and we currently don't have

705
00:34:00,720 --> 00:34:03,440
Speaker 12: that from the administration, at least not, as Kaye said,

706
00:34:03,440 --> 00:34:06,800
Speaker 12: on a consistent basis, from the President and from important

707
00:34:06,800 --> 00:34:09,840
Speaker 12: cabinet leaders. That means that Congressional leaders are in the

708
00:34:09,920 --> 00:34:14,239
Speaker 12: dark about those goals and therefore the timeline they're going

709
00:34:14,320 --> 00:34:20,480
Speaker 12: to be put to answering the question here on replenishing.

710
00:34:19,760 --> 00:34:21,680
Speaker 4: The munitions that are being used.

711
00:34:21,920 --> 00:34:25,360
Speaker 12: In a really substantial way and one of the largest

712
00:34:25,680 --> 00:34:31,640
Speaker 12: actions we've taken since I mean since actually Barack Obama's

713
00:34:31,680 --> 00:34:35,799
Speaker 12: first year in office, and so This is going to

714
00:34:35,800 --> 00:34:37,759
Speaker 12: be a large funding request. Congress is going to have

715
00:34:37,800 --> 00:34:40,800
Speaker 12: to go through this. It will require a by person

716
00:34:40,920 --> 00:34:43,879
Speaker 12: vote in both the House and the Senate, which means

717
00:34:43,880 --> 00:34:46,400
Speaker 12: the Democratic Party will have to have a sense of

718
00:34:46,760 --> 00:34:49,880
Speaker 12: a sense of the meaning and purpose of this as well.

719
00:34:49,960 --> 00:34:50,200
Speaker 4: Well.

720
00:34:50,239 --> 00:34:52,360
Speaker 2: We've heard from at least one Democrat here at Bloomberg.

721
00:34:52,719 --> 00:34:55,799
Speaker 2: Joe spoke with your former colleague, Congressman Wasserman Schultz, who

722
00:34:55,800 --> 00:34:59,480
Speaker 2: suggested she actually would be open for a supplement. Thinks, yeah,

723
00:34:59,600 --> 00:35:02,920
Speaker 2: that the troops need to be supported effectively, knowing that

724
00:35:02,960 --> 00:35:05,719
Speaker 2: this is an election year. Every decision by these representatives

725
00:35:05,719 --> 00:35:08,479
Speaker 2: is being made with that in mind. Can Democrats really

726
00:35:08,480 --> 00:35:11,440
Speaker 2: be seen voting against the troops if this comes.

727
00:35:11,200 --> 00:35:15,200
Speaker 12: Down no, and therefore then exacerbates the divide within the

728
00:35:15,200 --> 00:35:19,479
Speaker 12: Democratic Party. You have a very substantial anti Semitic wing

729
00:35:19,640 --> 00:35:23,040
Speaker 12: on the progressive left that has now entered politics. You

730
00:35:23,040 --> 00:35:24,680
Speaker 12: have some of that on the right, but it's much

731
00:35:24,719 --> 00:35:27,759
Speaker 12: more predominant on the progressive left. This will be exacerbated

732
00:35:27,760 --> 00:35:32,320
Speaker 12: by our coordination with Israel against our mutual enemy in Iran.

733
00:35:32,960 --> 00:35:35,000
Speaker 12: You also have that question on the Republican side of

734
00:35:35,000 --> 00:35:38,800
Speaker 12: the aisle, which is the divide between the anti intervention

735
00:35:38,880 --> 00:35:42,480
Speaker 12: ast magawing that has had a substantial voice in the

736
00:35:42,480 --> 00:35:47,440
Speaker 12: presence and administration, namely with JD. Vance and those that

737
00:35:47,480 --> 00:35:51,680
Speaker 12: are okay with intervention to some degree. So that exacerbates

738
00:35:51,680 --> 00:35:54,000
Speaker 12: the divide in both parties when you're going for funding

739
00:35:54,040 --> 00:35:54,759
Speaker 12: on Capitol Hill.

740
00:35:55,440 --> 00:35:59,280
Speaker 6: So with that said, it's likely to pass. It sounds

741
00:35:59,360 --> 00:36:03,160
Speaker 6: like with the health of some Democrats. Does that take

742
00:36:03,200 --> 00:36:06,640
Speaker 6: the place of reconciliation, because every time we bring this up,

743
00:36:06,719 --> 00:36:08,200
Speaker 6: somebody has got an idea of what they want to.

744
00:36:08,200 --> 00:36:08,799
Speaker 4: Attach to it.

745
00:36:08,880 --> 00:36:10,839
Speaker 12: Sure, I think reconciliation is going to be a great

746
00:36:10,840 --> 00:36:13,720
Speaker 12: talk for Republicans for the next six months.

747
00:36:14,200 --> 00:36:17,399
Speaker 4: I don't see it as a real fire drill.

748
00:36:17,640 --> 00:36:20,120
Speaker 12: I think this is it's going to be very difficult

749
00:36:20,200 --> 00:36:23,400
Speaker 12: for the House to just pass normal pieces of legislation

750
00:36:23,800 --> 00:36:26,880
Speaker 12: on party line votes, given how narrow the majority is

751
00:36:27,000 --> 00:36:30,480
Speaker 12: in the US House the US Senate. I think Republicans

752
00:36:30,480 --> 00:36:33,320
Speaker 12: are much more united in the Republican in the US Senate.

753
00:36:33,200 --> 00:36:34,880
Speaker 4: Than they are in the US House.

754
00:36:35,200 --> 00:36:40,239
Speaker 12: They actually have the same number of differential between their majorities.

755
00:36:40,480 --> 00:36:43,000
Speaker 12: Right with Republicans with fifty three seats in the in

756
00:36:43,120 --> 00:36:49,319
Speaker 12: the Senate and House Republicans with about six six vote

757
00:36:49,360 --> 00:36:51,799
Speaker 12: marching currently, so it's a really tight thing to get

758
00:36:51,840 --> 00:36:56,400
Speaker 12: the legislation through the House. So reconciliation it's a shirts

759
00:36:56,400 --> 00:37:00,520
Speaker 12: and skins Republicans versus Democrat operations going to be very

760
00:37:00,520 --> 00:37:02,399
Speaker 12: difficult for the House Republicians to.

761
00:37:02,320 --> 00:37:03,200
Speaker 4: Pull this thing together.

762
00:37:03,360 --> 00:37:06,799
Speaker 12: So that best case, and it's currently not best case

763
00:37:06,840 --> 00:37:08,839
Speaker 12: politically for Republicans.

764
00:37:08,920 --> 00:37:10,080
Speaker 8: Right now, I want to.

765
00:37:10,080 --> 00:37:11,759
Speaker 2: Ask you about what we were dealing with at this

766
00:37:11,840 --> 00:37:14,880
Speaker 2: time yesterday, which was the tweet that was then deleted

767
00:37:14,920 --> 00:37:17,640
Speaker 2: by the Energy Secretary Chris Right that a US Navy

768
00:37:17,960 --> 00:37:19,719
Speaker 2: escort had happened and a tanker had gotten through the

769
00:37:19,719 --> 00:37:22,400
Speaker 2: strait of hormose. For that reason, we saw movement in

770
00:37:22,440 --> 00:37:24,439
Speaker 2: oil prices. And I'm asking you this as the former

771
00:37:24,480 --> 00:37:27,040
Speaker 2: chair of the Financial Services Committee. Does that not smack of,

772
00:37:27,400 --> 00:37:31,359
Speaker 2: even if inadvertent, market manipulation here? I just when we

773
00:37:31,400 --> 00:37:34,120
Speaker 2: know that there is so much vulnerability in financial markets

774
00:37:34,160 --> 00:37:36,719
Speaker 2: right now to the developments around this conflict, does the

775
00:37:36,719 --> 00:37:38,680
Speaker 2: administration not need to be much more careful?

776
00:37:38,880 --> 00:37:40,200
Speaker 4: Oh, they mean to be very careful.

777
00:37:40,200 --> 00:37:43,520
Speaker 12: I mean these tweets, tweets, what can have hundreds of

778
00:37:43,560 --> 00:37:45,600
Speaker 12: billions of dollars worth of impact right now?

779
00:37:45,719 --> 00:37:47,799
Speaker 4: Yeah, it says two things though.

780
00:37:48,160 --> 00:37:51,760
Speaker 12: One is that everything hangs on the straits of hormones

781
00:37:51,880 --> 00:37:55,800
Speaker 12: right now. Economically, globally, our economy hangs off this narrow

782
00:37:55,880 --> 00:37:59,560
Speaker 12: spit of water where you get the predominant source of

783
00:37:59,760 --> 00:38:03,759
Speaker 12: energy for the world energy markets. The second piece is

784
00:38:03,800 --> 00:38:06,399
Speaker 12: that these markets are not driven by fundamentals right now,

785
00:38:06,400 --> 00:38:10,040
Speaker 12: they're driven by pure emotion. If we have some sense

786
00:38:10,239 --> 00:38:13,719
Speaker 12: of a certainty timeline, like President Trump gave us two

787
00:38:13,800 --> 00:38:17,040
Speaker 12: days ago, there is a great calming of the market then,

788
00:38:17,520 --> 00:38:21,840
Speaker 12: and anything that upsets that, either for good or for bad,

789
00:38:22,680 --> 00:38:24,359
Speaker 12: has creates these wild.

790
00:38:24,080 --> 00:38:25,000
Speaker 4: Swings right now.

791
00:38:25,160 --> 00:38:27,480
Speaker 12: But over time, if we're talking about this in a

792
00:38:27,480 --> 00:38:30,279
Speaker 12: month's time, the fundamentals will come to bear. And that

793
00:38:30,400 --> 00:38:34,000
Speaker 12: is a really troublesome thing for affordability domestically, a troublesome

794
00:38:34,040 --> 00:38:38,120
Speaker 12: thing for domestic politics in particular. But the tweet, it

795
00:38:38,200 --> 00:38:40,640
Speaker 12: really shows two things really well.

796
00:38:40,920 --> 00:38:43,520
Speaker 6: Everything at the moment that we're talking about on Capitol

797
00:38:43,560 --> 00:38:45,600
Speaker 6: Hill is on ice because of the Save Act. The

798
00:38:45,600 --> 00:38:49,520
Speaker 6: President says he won't sign anything save America.

799
00:38:49,680 --> 00:38:51,480
Speaker 4: There are a couple of versions. Thank you for correcting me.

800
00:38:51,560 --> 00:38:55,279
Speaker 6: On that Save America Act, he says, is the priority

801
00:38:55,360 --> 00:38:58,799
Speaker 6: that's beyond I guess DHS even confirming a new secretary.

802
00:38:58,880 --> 00:38:59,359
Speaker 4: I don't know.

803
00:38:59,400 --> 00:39:02,760
Speaker 6: But John Fune doesn't like this idea of the standing

804
00:39:02,840 --> 00:39:05,799
Speaker 6: filibuster and doesn't think he has the votes anyway. Listen

805
00:39:05,840 --> 00:39:08,960
Speaker 6: to the Senate Majority leader talking about this just earlier.

806
00:39:09,760 --> 00:39:13,200
Speaker 13: We don't have the votes either to proceed get on

807
00:39:13,520 --> 00:39:17,080
Speaker 13: a talking filibuster, nor to sustain one if we got

808
00:39:17,120 --> 00:39:20,479
Speaker 13: on it. But that is just a function of math,

809
00:39:20,520 --> 00:39:22,560
Speaker 13: and there is anything I can do about that. I mean,

810
00:39:22,600 --> 00:39:25,080
Speaker 13: I understand the President's got a passion to see this

811
00:39:25,120 --> 00:39:28,320
Speaker 13: issue addressed, as we all do. Does he understand that though, Well,

812
00:39:28,360 --> 00:39:31,880
Speaker 13: we've conveyed that to him, but we will continue to

813
00:39:31,920 --> 00:39:34,680
Speaker 13: make that argument, and they are.

814
00:39:35,200 --> 00:39:37,120
Speaker 6: President was just asked about it as he was leaving

815
00:39:37,160 --> 00:39:39,040
Speaker 6: the White House. He said, Hey, John Thune's the leader.

816
00:39:39,080 --> 00:39:41,480
Speaker 6: It's his job to get the votes. Does that mean

817
00:39:41,600 --> 00:39:43,319
Speaker 6: the Congress is shut indefinitely?

818
00:39:44,080 --> 00:39:44,600
Speaker 4: Of course not.

819
00:39:45,520 --> 00:39:47,759
Speaker 12: But the first thing I would say is John Tune

820
00:39:47,840 --> 00:39:51,200
Speaker 12: is such a master. And how we responded. We understood

821
00:39:51,200 --> 00:39:54,200
Speaker 12: what he said with his response without saying it. President

822
00:39:54,239 --> 00:39:58,200
Speaker 12: Trump understood the subtle art of this. But I mentioned

823
00:39:58,280 --> 00:40:01,239
Speaker 12: domestic politics at the end of the question about affordability

824
00:40:01,480 --> 00:40:04,239
Speaker 12: and oil prices and everything else. The pressure point on

825
00:40:04,320 --> 00:40:07,680
Speaker 12: Republicans right now is that we have a president that

826
00:40:07,760 --> 00:40:11,160
Speaker 12: is underwater. This is my friends on Capitol Hill have

827
00:40:11,200 --> 00:40:14,160
Speaker 12: this challenge going into midterm election year. The president sumbers

828
00:40:14,200 --> 00:40:16,600
Speaker 12: do not improve from January through election day. That's been

829
00:40:16,640 --> 00:40:19,000
Speaker 12: the case for the last fifty years in public companion

830
00:40:19,040 --> 00:40:21,600
Speaker 12: and surveys. No matter how popular you are, unpopular you

831
00:40:21,640 --> 00:40:24,880
Speaker 12: are in January, your numbers do not improve by election

832
00:40:24,960 --> 00:40:27,640
Speaker 12: day of a midterm. So now we're in this case

833
00:40:27,680 --> 00:40:30,840
Speaker 12: where that is a problem for Republicans. Donald Trump's underwater.

834
00:40:31,200 --> 00:40:33,719
Speaker 12: The economic the view of the American people on the

835
00:40:33,800 --> 00:40:37,239
Speaker 12: state of our economy and their economics, which is much

836
00:40:37,280 --> 00:40:39,520
Speaker 12: more important than the state of GDP growth or anything

837
00:40:39,520 --> 00:40:43,720
Speaker 12: else that is highly negative by the American people. Oil

838
00:40:43,760 --> 00:40:47,600
Speaker 12: prices will exacerbate this. So we need other sets of

839
00:40:47,680 --> 00:40:50,520
Speaker 12: things to point to. My friends in the Republican Party

840
00:40:50,600 --> 00:40:52,800
Speaker 12: need other things for the American people to think about

841
00:40:53,000 --> 00:40:56,120
Speaker 12: rather than their pocketbook, because they're not happy with their pocketbook.

842
00:40:56,400 --> 00:40:59,480
Speaker 12: And the big fight here is on immigration. Donald Trump's

843
00:40:59,520 --> 00:41:02,839
Speaker 12: secret to coming into the White House the first time

844
00:41:03,080 --> 00:41:06,279
Speaker 12: and the second time has been on immigration and border security.

845
00:41:06,440 --> 00:41:09,080
Speaker 12: He's trying to get the ban back together. And that's

846
00:41:09,080 --> 00:41:11,680
Speaker 12: what the Save Act is all about. To stoke what

847
00:41:12,080 --> 00:41:16,440
Speaker 12: was a powerful tool that they lost because of ineptitude

848
00:41:16,480 --> 00:41:20,279
Speaker 12: by DHS and how they handled things in Minneapolis and

849
00:41:20,320 --> 00:41:22,040
Speaker 12: a few other states. They're trying to get that back

850
00:41:22,040 --> 00:41:25,040
Speaker 12: together and get the political advantage on immigration back and

851
00:41:25,120 --> 00:41:26,879
Speaker 12: the Save Act and the fight on the Save Act

852
00:41:27,080 --> 00:41:29,920
Speaker 12: is one mechanism to do that, a value fight that

853
00:41:29,960 --> 00:41:32,720
Speaker 12: will not go much of anywhere in the US center.

854
00:41:33,480 --> 00:41:37,160
Speaker 2: Well, perhaps not unless Senator John Cornyn has his way.

855
00:41:37,239 --> 00:41:39,200
Speaker 2: This guy was almost the John that was the Senate

856
00:41:39,239 --> 00:41:41,319
Speaker 2: majority leader. He's out with an op ed in the

857
00:41:41,360 --> 00:41:44,600
Speaker 2: New York Post today noting that yes, historically he has

858
00:41:44,640 --> 00:41:47,560
Speaker 2: always supported the filibuster in that sixty vote threshold. He

859
00:41:47,640 --> 00:41:50,600
Speaker 2: says leaders must take stocked and adapt when the reality

860
00:41:50,600 --> 00:41:53,120
Speaker 2: on the ground changes. He says, after careful consideration, I

861
00:41:53,160 --> 00:41:56,479
Speaker 2: will support whatever changes to Senate rules that may prove

862
00:41:56,520 --> 00:41:59,600
Speaker 2: necessary for us to get the Save America Act passed.

863
00:42:00,200 --> 00:42:02,640
Speaker 2: Just a lot of words for saying President drump please

864
00:42:02,719 --> 00:42:04,280
Speaker 2: endorse me in my re election campaign.

865
00:42:04,880 --> 00:42:06,360
Speaker 4: That's you've summarized it.

866
00:42:06,480 --> 00:42:09,160
Speaker 12: That would be put that into any AI and you're

867
00:42:09,200 --> 00:42:13,000
Speaker 12: going to get out the key here. Yeah, politics are

868
00:42:13,000 --> 00:42:17,120
Speaker 12: a ficul thing, but let's just just step out a bed. Yeah,

869
00:42:17,200 --> 00:42:20,799
Speaker 12: So Republicans, there's this talk among many Senate Republicans they

870
00:42:20,840 --> 00:42:24,920
Speaker 12: want to end the filibuster for voting access. What did

871
00:42:24,920 --> 00:42:27,719
Speaker 12: Democrats want to do at the beginning of the Biden administration.

872
00:42:28,680 --> 00:42:31,520
Speaker 12: That's their first piece of legislation was to rewrite state

873
00:42:31,560 --> 00:42:34,680
Speaker 12: election laws and federalize them. Now and by the way,

874
00:42:34,840 --> 00:42:37,919
Speaker 12: undo the filibuster in order to for that one narrow thing.

875
00:42:38,239 --> 00:42:41,000
Speaker 12: And now Republicans are talking about the same thing long term,

876
00:42:41,120 --> 00:42:43,319
Speaker 12: that does end the filibuster when both parties are trying

877
00:42:43,320 --> 00:42:46,279
Speaker 12: to rip it apart for their own domestic politics, their

878
00:42:46,320 --> 00:42:49,840
Speaker 12: own political case, and what they view is their ability

879
00:42:49,880 --> 00:42:52,960
Speaker 12: to win the next election. I think this really shows

880
00:42:53,080 --> 00:42:56,759
Speaker 12: that these rules in the Senate are tenuous at best.

881
00:42:56,920 --> 00:42:59,040
Speaker 6: Wow, So a lot of efforts are running into the

882
00:42:59,040 --> 00:43:03,160
Speaker 6: wall here and next week out. It's an election year.

883
00:43:03,280 --> 00:43:05,279
Speaker 6: This is what happens for an election year. So what

884
00:43:05,400 --> 00:43:08,040
Speaker 6: happens to the Department of Homeland Security. There's a new

885
00:43:08,080 --> 00:43:10,520
Speaker 6: secretary at hand. Ran Paul just made pretty clear he

886
00:43:10,560 --> 00:43:14,239
Speaker 6: is going to have maybe a bumpy confirmation hearing at least,

887
00:43:14,239 --> 00:43:17,000
Speaker 6: But everyone sees him getting confirmed. Does that grease the

888
00:43:17,040 --> 00:43:19,680
Speaker 6: skids on reopening the agency.

889
00:43:19,800 --> 00:43:23,240
Speaker 12: It does, and it enables Democrats to get enough space

890
00:43:23,280 --> 00:43:26,080
Speaker 12: and time so that they can actually have a sensible

891
00:43:26,160 --> 00:43:28,359
Speaker 12: vote and come to a sensible outcome. I think Mark

892
00:43:28,400 --> 00:43:31,239
Speaker 12: waynemullin Is is a great choice by President Trump for

893
00:43:31,239 --> 00:43:34,000
Speaker 12: a couple of reasons. One, he does meet the Trump's

894
00:43:34,160 --> 00:43:37,520
Speaker 12: objectives for Department of Homeland Security and Immigration generally the

895
00:43:37,600 --> 00:43:40,560
Speaker 12: number one. Number Two, he has good relationships on both

896
00:43:40,560 --> 00:43:42,840
Speaker 12: sides of the aisle in the Senate and the US House.

897
00:43:43,120 --> 00:43:44,719
Speaker 12: He showed that as a as a friend of mine

898
00:43:44,760 --> 00:43:47,560
Speaker 12: in the US House that he could talk to anyone,

899
00:43:48,440 --> 00:43:52,080
Speaker 12: no matter the party, no matter the disagreements, and he

900
00:43:52,239 --> 00:43:54,920
Speaker 12: is in that way a moderating voice for really what

901
00:43:54,960 --> 00:43:59,000
Speaker 12: has been a politically perilous and fraud debate on immigration.

902
00:43:59,680 --> 00:44:03,759
Speaker 12: I think that will enable Democrat officials to actually do

903
00:44:03,840 --> 00:44:07,239
Speaker 12: something rational fund the department, especially if there's any risk

904
00:44:07,360 --> 00:44:10,719
Speaker 12: like we're hearing with this report on California.

905
00:44:11,000 --> 00:44:12,040
Speaker 4: All right, mister chairman.

906
00:44:12,360 --> 00:44:14,320
Speaker 2: Always great to have you, of course at Bloomberg Politics

907
00:44:14,320 --> 00:44:16,440
Speaker 2: contributor now, but the former chair of the House Financial

908
00:44:16,480 --> 00:44:19,080
Speaker 2: Services Committee, Patrick mckenry here with us on the early

909
00:44:19,200 --> 00:44:20,320
Speaker 2: edition of Balance of Power.

910
00:44:22,640 --> 00:44:25,120
Speaker 4: Thanks for listening to the Balance of Power podcast.

911
00:44:25,719 --> 00:44:28,839
Speaker 6: Make sure to subscribe if you haven't already, at Apple, Spotify,

912
00:44:28,960 --> 00:44:31,520
Speaker 6: or wherever you get your podcasts, and you can find

913
00:44:31,600 --> 00:44:34,800
Speaker 6: us live every weekday from Washington, DC at noontime Eastern

914
00:44:35,120 --> 00:44:36,560
Speaker 6: at Bloomberg dot com.