Waltz Leaving Top NSA Position | Balance of Power: Late Edition
Bloomberg Television
[{'start': '1.910', 'end': '5.690', 'text': 'From the world of politics to the world\nof business.'}, {'start': '6.290', 'end': '8.420', 'text': 'This is balance of power.'}, {'start': '22.850', 'end': '26.270', 'text': "From Bloomberg's Washington, D.C.\nstudios to our TV and radio audiences"}, {'start': '26.270', 'end': '28.550', 'text': 'worldwide.\nWelcome to Balance of Power alongside'}, {'start': '28.550', 'end': '29.960', 'text': "Joe Matthew.\nI'm Jacki LYDEN."}, {'start': '30.050', 'end': '33.140', 'text': 'Tonight, Donald Trump shakes up his\nnational security team.'}, {'start': '34.310', 'end': '37.160', 'text': 'Mike Walsh, I guess he said he claimed\nresponsibility.'}, {'start': '37.190', 'end': '39.250', 'text': 'I would imagine it had nothing to do\nwith anyone else.'}, {'start': '39.260', 'end': '40.700', 'text': "It was Mike, I guess.\nI don't know."}, {'start': '40.700', 'end': '44.810', 'text': 'I always thought it was Mike.\nWeeks after a wave of criticism'}, {'start': '44.810', 'end': '48.320', 'text': 'following that single chat scandal, the\ncurrent national security adviser,'}, {'start': '48.320', 'end': '51.020', 'text': 'Michael Walsh, tapped to serve as the\nnext U.N.'}, {'start': '51.020', 'end': '53.780', 'text': 'ambassador.\nWhat is next departure means of the'}, {'start': '53.780', 'end': '57.710', 'text': 'rocky Senate confirmation we could\nexpect when Senate Foreign Relations'}, {'start': '57.710', 'end': '59.960', 'text': 'Committee member Senator Chris Coons\njoins us.'}, {'start': '60.470', 'end': '62.600', 'text': 'And could a major trade deal be\nimminent?'}, {'start': '64.010', 'end': '67.220', 'text': "Right now, countries from all over the\nworld, because of President Trump's"}, {'start': '67.220', 'end': '71.300', 'text': 'leadership, are desperate and dying to\nmake trade deals with the United States.'}, {'start': '73.990', 'end': '76.870', 'text': "The White House says it's hearing an\nannouncement of a first tranche of trade"}, {'start': '76.870', 'end': '79.180', 'text': 'deals with partners that would reduce\nplanned tariffs.'}, {'start': '79.360', 'end': '81.670', 'text': "What we can expect and what's in the\nfine print."}, {'start': '81.790', 'end': '85.900', 'text': 'Plus, we have developments on several\nfronts tonight from secondary sanctions'}, {'start': '85.900', 'end': '90.160', 'text': 'announced on Iran oil to the earnings\ncalls now under way for giants like'}, {'start': '90.160', 'end': '93.370', 'text': 'Apple and Amazon.\nAnd what Elon Musk is now saying about'}, {'start': '93.370', 'end': '96.820', 'text': "the future of the Doge.\nBut we begin tonight with Bloomberg's"}, {'start': '96.820', 'end': '100.210', 'text': 'Washington correspondent Tyler Kendall.\nHe joins us live from worldwide'}, {'start': '100.210', 'end': '105.490', 'text': 'headquarters in New York.\nAnd Tyler, a day of of turnover in the'}, {'start': '105.490', 'end': '109.510', 'text': "Trump administration, though it's not\nactually departures, it's just moving"}, {'start': '109.510', 'end': '111.250', 'text': 'pieces around on the chessboard, if you\nwill.'}, {'start': '111.370', 'end': '114.010', 'text': 'Right, exactly.\nKELLY And in his post on True Social'}, {'start': '114.010', 'end': '116.650', 'text': 'announcing these changes, President\nTrump said that he thinks that Mike'}, {'start': '116.650', 'end': '119.890', 'text': "Wallace has served the nation's\ninterests well and that he'll continue"}, {'start': '119.890', 'end': '122.260', 'text': "to do so.\nAnd that's why he's appointing him to be"}, {'start': '122.260', 'end': '124.870', 'text': 'the next U.S.\nambassador to the United Nations, though'}, {'start': '124.870', 'end': '128.680', 'text': "of course, he won't have that daily\naccess to the Oval Office."}, {'start': '128.680', 'end': '132.940', 'text': 'Now, as you well know, Mike Wallace came\nunder scrutiny back in March when he'}, {'start': '132.940', 'end': '137.320', 'text': 'inadvertently added a journalist from\nthe Atlantic to a signal group chat that'}, {'start': '137.320', 'end': '142.630', 'text': 'was discussing pending military attack\nplans against Houthi rebels in Yemen.'}, {'start': '142.630', 'end': '147.220', 'text': 'But up until now, really, there has been\nvery little public indication that this'}, {'start': '147.220', 'end': '150.940', 'text': 'essentially demotion was pending.\nIn fact, the White House press secretary'}, {'start': '150.940', 'end': '155.350', 'text': 'told reporters almost a month ago today\nthat they thought this case was closed.'}, {'start': '156.520', 'end': '159.520', 'text': 'As the president has made it very clear,\nMike Wallace continues to be an'}, {'start': '159.520', 'end': '161.470', 'text': 'important part of his national security\nteam.'}, {'start': '162.070', 'end': '164.770', 'text': 'And this case has been closed here at\nthe White House.'}, {'start': '164.770', 'end': '168.790', 'text': 'As far as we are concerned, there have\nbeen steps made to ensure that something'}, {'start': '168.790', 'end': '170.680', 'text': 'like that can obviously never happen\nagain.'}, {'start': '171.190', 'end': '174.190', 'text': "And we're moving forward.\nAnd the president and Mike Waltz and his"}, {'start': '174.190', 'end': '177.520', 'text': 'entire national security team have been\nworking together very well.'}, {'start': '179.500', 'end': '183.070', 'text': "So you see, Mike, well, it's clear just\nyesterday at a cabinet meeting, but a"}, {'start': '183.070', 'end': '186.760', 'text': 'person familiar tells Bloomberg News\nthat it appears President Trump soured'}, {'start': '186.760', 'end': '190.660', 'text': 'after Wallace asked Elon Musk to\ninvestigate what happened with that'}, {'start': '190.660', 'end': '192.460', 'text': 'signal.\nChat sources tell us the White House'}, {'start': '192.730', 'end': '196.030', 'text': 'felt Walt should have just admitted he\nmade a mistake and not suggest something'}, {'start': '196.030', 'end': '199.450', 'text': "more nefarious was at play.\nWalt's, of course, has been at the"}, {'start': '199.450', 'end': '203.590', 'text': "forefront of President Trump's foreign\npolicy agenda, particularly when it"}, {'start': '203.590', 'end': '207.550', 'text': "comes to the war in Ukraine.\nHe's considered to be very hawkish on"}, {'start': '207.550', 'end': '211.570', 'text': "Russia, Iran and China.\nWaltz's a former three term congressman"}, {'start': '211.570', 'end': '215.800', 'text': 'and will need to get through Senate\nconfirmation to be the next U.N.'}, {'start': '215.800', 'end': '218.950', 'text': 'ambassador.\nSo that signal incident is by no means'}, {'start': '218.950', 'end': '222.220', 'text': 'behind him Jill.\nAnd Kelly, during this announcement,'}, {'start': '222.220', 'end': '225.790', 'text': 'President Trump did say that his\nsecretary of state, Marco Rubio, will'}, {'start': '225.790', 'end': '230.020', 'text': 'serve as the national security adviser\nfor the time being while he continues to'}, {'start': '230.020', 'end': '234.580', 'text': 'lead the State Department.\nYou just made an interesting point,'}, {'start': '234.820', 'end': '237.610', 'text': 'Tyler, that would involve Senate\nconfirmation.'}, {'start': '237.610', 'end': '240.850', 'text': "And we're going to have a conversation\nwith Senator Chris Coons about that"}, {'start': '240.850', 'end': '242.770', 'text': "coming up.\nBloomberg's Tyler Kendal, we thank you"}, {'start': '242.770', 'end': '245.880', 'text': 'so much for the update from world\nheadquarters in New York.'}, {'start': '245.890', 'end': '249.690', 'text': "It appears to be the end of the road for\nElon Musk's involvement with the Doge,"}, {'start': '249.690', 'end': '254.370', 'text': 'shares the president yesterday.\nI want to thank you for doing that.'}, {'start': '254.780', 'end': '257.089', 'text': 'You said you really have sacrificed a\nlot.'}, {'start': '257.810', 'end': '260.630', 'text': 'We treated very unfairly.\nWe just want to thank you very much.'}, {'start': '260.630', 'end': '264.900', 'text': "And, you know, you're invited to stay as\nlong as you want."}, {'start': '264.950', 'end': '268.220', 'text': 'At some point, he wants to get back home\nto his car.'}, {'start': '268.250', 'end': '272.900', 'text': "It's $150 billion.\nThink of this."}, {'start': '273.470', 'end': '274.740', 'text': "It's not a.\nYeah."}, {'start': '274.760', 'end': '281.220', 'text': 'Yeah, I was going.\nTesla stock, of course, has dropped more'}, {'start': '281.220', 'end': '285.510', 'text': "than 33% since Trump's inauguration, and\nMusk has lost about a quarter of his"}, {'start': '285.510', 'end': '289.240', 'text': 'personal fortune, roughly $113 billion\ntoday.'}, {'start': '289.380', 'end': '292.710', 'text': "Tesla's chair Robin Donald denied a\nreport that the company's board has"}, {'start': '292.710', 'end': '296.520', 'text': 'started the search for a new CEO to\nreplace Musk.'}, {'start': '296.550', 'end': '299.430', 'text': 'Joining us now with the latest from our\nheadquarters in New York is Ed Ludlow,'}, {'start': '299.430', 'end': '303.060', 'text': 'host of Bloomberg Technology.\nAnd I thought that Musk was trying to'}, {'start': '303.060', 'end': '306.390', 'text': 'put any concern around his leadership of\nTesla to bed when it reported earnings.'}, {'start': '306.390', 'end': '309.480', 'text': "He got on the earnings call and\nbasically immediately said, Don't worry,"}, {'start': '309.480', 'end': '312.780', 'text': "guys, I'm coming home.\nYeah, he committed to up the amount of"}, {'start': '312.780', 'end': '317.370', 'text': 'time that he will be spending at Tesla\nand scaling back the amount of time'}, {'start': '317.370', 'end': '319.890', 'text': 'allocated to doge and the\nadministration.'}, {'start': '319.890', 'end': '323.530', 'text': 'As Joe and I discussed the other day,\nthis is only a surprise to those that'}, {'start': '323.530', 'end': '327.030', 'text': 'have not been paying attention.\nAny special government employee has a'}, {'start': '327.030', 'end': '331.020', 'text': 'limit of 130 days.\nThis is an interesting development.'}, {'start': '331.020', 'end': '336.000', 'text': 'The Wall Street Journal has reporting\nthat the board conducted an executive'}, {'start': '336.000', 'end': '340.680', 'text': 'search to replace Elon Musk, then citing\nthe chair.'}, {'start': '340.680', 'end': '343.770', 'text': 'As you said, the official Tesla ex\naccount denied it.'}, {'start': '344.010', 'end': '348.390', 'text': 'What you need to know is very simple.\nLike the board have previously'}, {'start': '348.390', 'end': '353.160', 'text': "discussed, for example, in the context\nof Musk's compensation trial, their"}, {'start': '353.160', 'end': '357.480', 'text': 'plans for life after Elon Musk.\nThe idea of long term succession is not'}, {'start': '357.480', 'end': '360.180', 'text': 'new.\nLots of sources tell me that their'}, {'start': '360.180', 'end': '363.900', 'text': "expectation is that he's also going to\nspend a lot of time on A.I., not just"}, {'start': '363.900', 'end': '366.210', 'text': "Tesla.\nBut there's a distinction between long"}, {'start': '366.210', 'end': '369.150', 'text': 'term succession planning and I guess\nwhat was reported in the Journal'}, {'start': '369.210', 'end': '372.360', 'text': "overnight.\nAnd it's great to have you with us here."}, {'start': '372.360', 'end': '374.280', 'text': "We've also got a couple of big movers\nafter the bell."}, {'start': '374.280', 'end': '378.060', 'text': "And I know that you're super busy with\nyour eyes on Amazon as well as Apple"}, {'start': '378.060', 'end': '381.000', 'text': 'pointing to lower than expected sales\nfrom China.'}, {'start': '381.000', 'end': '385.200', 'text': 'And now a new effort to source more\nchips from the US this year, according'}, {'start': '385.200', 'end': '388.020', 'text': 'to Tim Cook.\nIf you heard the word tariffs yet.'}, {'start': '388.140', 'end': '391.290', 'text': 'No.\nSo what both companies have in common is'}, {'start': '391.290', 'end': '395.370', 'text': 'that they said literally nothing\nofficially about trade or tariffs in the'}, {'start': '395.370', 'end': '400.530', 'text': 'earnings release other than both\ncompanies amended the boilerplate in the'}, {'start': '400.530', 'end': '405.120', 'text': "forward guidance section in Amazon's\ncase and the forward looking statement"}, {'start': '405.130', 'end': '409.970', 'text': "section of Apple's case both added the\nword trade, which wasn't in the release"}, {'start': '409.980', 'end': '413.520', 'text': "or the document from a quarter ago.\nAnd in Amazon's case they added the word"}, {'start': '413.520', 'end': '417.120', 'text': 'trade and tariff.\nVery little to go on, but clearly the'}, {'start': '417.120', 'end': '420.960', 'text': "numbers reflect in Amazon's case the\ncurrent period outlook and in Apple's"}, {'start': '420.960', 'end': '425.040', 'text': 'case, weakness in China, but also some\nweakness in other sort of categories'}, {'start': '425.220', 'end': '428.970', 'text': 'that this is going to be a topic on both\nof the calls, which are about 7 minutes'}, {'start': '428.970', 'end': '431.070', 'text': 'in right\nnow about it.'}, {'start': '431.070', 'end': '433.410', 'text': "We'll let you put an ear on those for us\nat Ludlow."}, {'start': '433.410', 'end': '436.470', 'text': 'Thank you so much.\nThe host of Bloomberg Technology with us'}, {'start': '436.470', 'end': '440.460', 'text': 'on balance of power, what the national\nsecurity team shakeup we saw today at'}, {'start': '440.460', 'end': '444.240', 'text': 'the White House with National Security\nadvisor Michael Waltz means and the'}, {'start': '444.240', 'end': '447.750', 'text': 'rocky Senate confirmation we could\nexpect when Senate Foreign Relations'}, {'start': '447.750', 'end': '451.170', 'text': 'Committee member Senator Chris Coons\njoins us up ahead here on balance of'}, {'start': '451.170', 'end': '453.000', 'text': 'power, Bloomberg TV and radio.'}, {'start': '469.980', 'end': '472.560', 'text': 'This is balance of power on Bloomberg TV\nand radio.'}, {'start': '472.560', 'end': '474.990', 'text': "I'm Joe Mathew alongside Kailey Leinz in\nwashington."}, {'start': '474.990', 'end': '477.750', 'text': 'Thank you for joining us.\nEarlier today, the president announcing'}, {'start': '477.750', 'end': '481.800', 'text': 'the departure, if I can use that term,\nof national security adviser michael'}, {'start': '481.800', 'end': '484.290', 'text': "Waltz.\nIt's picking him up for the job now of"}, {'start': '484.290', 'end': '485.520', 'text': 'U.N.\nambassador.'}, {'start': '486.330', 'end': '490.110', 'text': 'The NSA, Judy, is now being absorbed by\nSecretary of State Marco Rubio.'}, {'start': '490.110', 'end': '493.530', 'text': 'The big steps ahead now for Waltz and\nwhat could be a rocky Senate'}, {'start': '493.530', 'end': '497.640', 'text': 'confirmation with Delaware senator,\nSenate Foreign Relations Committee'}, {'start': '497.640', 'end': '501.000', 'text': "member Senator Chris Coons.\nIt's great to see you in studio."}, {'start': '501.000', 'end': '503.610', 'text': 'Thanks for joining us, Senator, on\nBloomberg TV Radio.'}, {'start': '503.610', 'end': '506.730', 'text': 'We have a lot of questions for you about\nthe proposal that you do in these'}, {'start': '506.730', 'end': '508.140', 'text': 'hearings.\nI bet you do as well.'}, {'start': '508.140', 'end': '510.300', 'text': "And I'd like to know what some of your\nquestions will be."}, {'start': '510.600', 'end': '514.440', 'text': 'But to start off with your reaction to\nthis move by the White House, this'}, {'start': '514.440', 'end': '518.190', 'text': 'solution, if you will, some are\nsuggesting that Mike Wallace failed up.'}, {'start': '518.429', 'end': '522.419', 'text': 'Should he have been fired?\nLook who I think should be fired is'}, {'start': '522.419', 'end': '525.750', 'text': "Secretary Haig, Seth, because at the end\nof the day, he's the one who has"}, {'start': '525.750', 'end': '530.730', 'text': 'repeatedly misused critical classified\ninformation, added various people to'}, {'start': '530.730', 'end': '534.690', 'text': "different signal chats and chains, and\nhasn't faced any accountability."}, {'start': '534.690', 'end': '537.450', 'text': "So they got the wrong guy.\nThat's partly my view."}, {'start': '537.450', 'end': '541.680', 'text': 'Yes.\nAnd I do think that 100 days into this'}, {'start': '541.680', 'end': '545.310', 'text': 'administration, our relations with most\nof our core allies have been strained'}, {'start': '545.310', 'end': '550.230', 'text': 'and tested by the tariffs, by some of\nthe unexpected threats from President'}, {'start': '550.230', 'end': '553.140', 'text': "Trump.\nAs I've met with representatives of"}, {'start': '553.410', 'end': '556.740', 'text': "partner and allied countries, they say\nhe's threatening Greenland, he's"}, {'start': '556.740', 'end': '559.020', 'text': "threatening the Panama Canal, he's\nthreatening Canada."}, {'start': '559.230', 'end': '562.620', 'text': "What's going to come next.\nAnd so I do think that Mike Waltz, if"}, {'start': '562.620', 'end': '564.900', 'text': 'confirmed to be UN ambassador, will have\nhis hands full.'}, {'start': '565.260', 'end': '569.100', 'text': 'And I think our relations with much of\nthe world, including our closest allies,'}, {'start': '569.430', 'end': '573.090', 'text': 'have gotten more strained, more\nattenuated in the last 100 days.'}, {'start': '573.090', 'end': '577.080', 'text': 'Well, the operative word you just used\nthere, Senator, is if he is confirmed,'}, {'start': '577.080', 'end': '580.860', 'text': 'your committee will have the ability to\nquestion him in a confirmation.'}, {'start': '580.860', 'end': '583.170', 'text': 'Yes, we will.\nGiven even the criticism we have had'}, {'start': '583.170', 'end': '586.410', 'text': 'from your colleagues across the aisle\nabout the Signal Gate episode and what'}, {'start': '586.410', 'end': '589.470', 'text': 'was shared, the inadvertent admission of\nJeffrey Goldberg.'}, {'start': '589.470', 'end': '591.930', 'text': 'Do you think he can make it through\ncommittee, let alone on the floor?'}, {'start': '592.170', 'end': '595.320', 'text': "We'll see.\nHe's certainly had his critics in the"}, {'start': '595.320', 'end': '598.470', 'text': 'Republican caucus as well as in the\nDemocratic caucus.'}, {'start': '598.980', 'end': '602.100', 'text': "He didn't have all that much time to\nserve as national security adviser."}, {'start': '602.550', 'end': '606.000', 'text': 'Look, this is repeating a pattern from\nthe first Trump administration where'}, {'start': '606.000', 'end': '609.300', 'text': "there's a lot of shifts in personnel, a\nlot of changes, a lot of people in"}, {'start': '609.300', 'end': '611.880', 'text': 'acting roles.\nElise Stefanik, as you know, is'}, {'start': '611.880', 'end': '614.910', 'text': 'nominated to be the U.N.\nambassador, then pulled out because the'}, {'start': '614.910', 'end': '619.380', 'text': "margin Republicans have in the House is\nso tight and they don't know whether"}, {'start': '619.380', 'end': '623.430', 'text': 'they can yet pass their big, beautiful\nbill, as Donald Trump describes it, to'}, {'start': '623.430', 'end': '628.830', 'text': 'slash taxes and\nalso cut Medicaid and cut other critical'}, {'start': '629.370', 'end': '630.900', 'text': 'social programs here in the United\nStates.'}, {'start': '630.900', 'end': '636.990', 'text': "So 100 days in President Trump hasn't\nkept key promises to reduce prices to"}, {'start': '636.990', 'end': '641.010', 'text': "solve the war in Ukraine on day one.\nAnd we're already seeing central figures"}, {'start': '641.010', 'end': '643.140', 'text': 'in his administration moving around.\nIn the deckchairs.'}, {'start': '643.350', 'end': '648.240', 'text': 'On April 16th, you demanded information\nfrom the White House about the contents'}, {'start': '648.240', 'end': '651.270', 'text': 'of that signal chat and the\ncircumstances surrounding it.'}, {'start': '651.270', 'end': '653.400', 'text': 'Did you hear back?\nDo you have that information?'}, {'start': '653.400', 'end': '655.950', 'text': 'Okay.\nWill this hearing bring it forward?'}, {'start': '655.950', 'end': '658.380', 'text': "It's certainly an opportunity to press\nfor answers."}, {'start': '658.980', 'end': '662.460', 'text': 'But one of the features of this White\nHouse is that I have sent, along with'}, {'start': '662.460', 'end': '666.870', 'text': 'other Democrats, dozens of letters in my\noversight capacity, whether on the'}, {'start': '666.870', 'end': '669.840', 'text': "Judiciary Committee, on the\nAppropriations Committee, where I'm the"}, {'start': '669.840', 'end': '673.800', 'text': 'senior Democrat for Defense\nAppropriations or on the Foreign'}, {'start': '673.800', 'end': '677.010', 'text': 'Relations Committee.\nAnd the vast majority of my letters have'}, {'start': '677.010', 'end': '680.130', 'text': "gone unanswered.\nWell, we'll see if you can get some"}, {'start': '680.130', 'end': '682.680', 'text': 'answers when this confirmation hearing\nultimately is set.'}, {'start': '682.680', 'end': '686.070', 'text': 'I also want to ask you about the other\nindividual who was involved in this'}, {'start': '686.070', 'end': '689.880', 'text': 'movement here, and that is Marco Rubio\nadding now another job to what was'}, {'start': '689.880', 'end': '692.340', 'text': 'already becoming a pretty long list.\nYou confirmed him.'}, {'start': '692.340', 'end': '696.240', 'text': 'You cast a vote to confirm him as\nsecretary of state of the United States.'}, {'start': '696.240', 'end': '700.290', 'text': 'Now, he is also USAID administrator,\narchivist and apparently acting national'}, {'start': '700.290', 'end': '702.570', 'text': "security.\nI don't think that too much for one man."}, {'start': '702.780', 'end': '706.560', 'text': 'He he may have his talent and\nexperience, but that is way too much for'}, {'start': '706.560', 'end': '711.240', 'text': 'any one person, particularly given the\nways that the chaos that Trump causes in'}, {'start': '711.240', 'end': '714.690', 'text': 'our international relations keeps\npropagating outwards.'}, {'start': '714.690', 'end': '719.640', 'text': 'So Secretary Rubio has got more and more\non his hands and managing all of this,'}, {'start': '719.640', 'end': '723.990', 'text': 'resolving some of these crises, reducing\nsome of the chaos is a real challenge'}, {'start': '723.990', 'end': '726.720', 'text': 'for him in the days ahead.\nWhen these hearings begin, will you'}, {'start': '726.720', 'end': '730.170', 'text': 'subpoena Jeffrey Goldberg from the\nAtlantic to find out how he got on that'}, {'start': '730.170', 'end': '731.970', 'text': 'phone?\nWell, we should.'}, {'start': '732.420', 'end': '736.500', 'text': 'But bluntly, the issuance of a subpoena\nby the committee requires votes from the'}, {'start': '736.500', 'end': '738.660', 'text': 'majority.\nNot sure what kind of cooperation do you'}, {'start': '738.660', 'end': '740.820', 'text': "think you'll have from the Republican\nleadership?"}, {'start': '740.820', 'end': '746.040', 'text': 'Probably pretty minimal.\nNot I will say this the chairman and the'}, {'start': '746.040', 'end': '749.130', 'text': 'ranking member of the Foreign Relations\nCommittee, Senator Sessions, Senator'}, {'start': '749.130', 'end': '752.670', 'text': 'Shaheen, have been trying very hard to\nmake it a more functional committee.'}, {'start': '753.240', 'end': '757.140', 'text': 'Relations under the previous Democratic\nchair really broke down almost'}, {'start': '757.140', 'end': '760.350', 'text': "completely with Senator Rich, and\nthey've been making some progress on"}, {'start': '760.350', 'end': '762.960', 'text': "that.\nIt's not impossible that will work"}, {'start': '762.960', 'end': '766.680', 'text': 'together to get the information the\ncommittee needs and deserves for a'}, {'start': '766.680', 'end': '768.480', 'text': 'robust confirmation hearing.\nBut.'}, {'start': '768.730', 'end': '770.230', 'text': "I'll just be blunt.\nI'm not optimistic."}, {'start': '770.620', 'end': '773.650', 'text': 'Well, as we consider the issues, your\ncommittee is looking at the same issues'}, {'start': '773.650', 'end': '776.200', 'text': 'that you were just alluding to Marco\nRubio is dealing with.'}, {'start': '776.200', 'end': '779.410', 'text': 'We got some news from President Trump\nseparate to this today about secondary'}, {'start': '779.410', 'end': '783.520', 'text': 'sanctions on buyers of Iranian oil,\ntrying to ramp up pressure on the regime'}, {'start': '783.520', 'end': '785.950', 'text': 'as they look for some kind of nuclear\ndeal.'}, {'start': '785.980', 'end': '788.170', 'text': 'Are you broadly supportive of measures\nlike that?'}, {'start': '788.170', 'end': '790.480', 'text': 'Is actually that what it takes to get\nTehran to the table?'}, {'start': '790.630', 'end': '793.190', 'text': "I'm broadly supportive of pressure on\nthe Iranian regime."}, {'start': '793.210', 'end': '797.350', 'text': 'They are the greatest source of\nterrorism and chaos in the Middle East.'}, {'start': '797.350', 'end': '802.390', 'text': 'And I do think that there is bipartisan\nsupport for increasing pressure to get'}, {'start': '802.390', 'end': '807.250', 'text': 'Iran to the table to try and get back\ninto a more comprehensive deal, one that'}, {'start': '807.250', 'end': '811.270', 'text': "doesn't have sunsets, one that includes\nsome of their secondary support for"}, {'start': '811.510', 'end': '814.780', 'text': 'terrorist proxies in the region,\nparticularly including the Houthis and'}, {'start': '814.780', 'end': '818.080', 'text': 'their ballistic missile program.\nThat would be a major diplomatic and'}, {'start': '818.080', 'end': '821.470', 'text': 'security accomplishment if the Trump\nadministration could get that done.'}, {'start': '821.770', 'end': '826.180', 'text': "I'm also a co-sponsor of Senator Lindsey\nGraham's bill that would proactively put"}, {'start': '826.420', 'end': '831.340', 'text': 'really punishing secondary sanctions on\nRussia and Russian oil sales as a way'}, {'start': '831.340', 'end': '835.810', 'text': 'to, frankly, recognize that Russia has\nbeen playing President Trump, that'}, {'start': '835.810', 'end': '839.470', 'text': 'President Zelensky of Ukraine has been\nwilling to come to the table, willing to'}, {'start': '839.470', 'end': '841.660', 'text': 'embrace a cease fire.\nPutin has not.'}, {'start': '841.960', 'end': '845.800', 'text': "And several of my Republican colleagues\nhave publicly recognized that they've"}, {'start': '845.800', 'end': '848.530', 'text': "been playing Trump.\nAnd it's time for us to apply more"}, {'start': '848.530', 'end': '853.120', 'text': 'pressure on Russia in order to get\ncloser to adjust the outcome in their'}, {'start': '853.120', 'end': '855.610', 'text': 'war of aggression against Ukraine.\nThere was an attempt in the Senate to'}, {'start': '855.610', 'end': '857.800', 'text': 'apply some pressure on the White House\nover tariffs.'}, {'start': '857.830', 'end': '859.480', 'text': 'Yes.\nYesterday, we spoke with Senator'}, {'start': '859.480', 'end': '863.910', 'text': 'Elizabeth Warren, came very close, one\nvery broken tie breaker.'}, {'start': '864.100', 'end': '867.640', 'text': "The vice president in I don't know if\nmaybe this would have been different if"}, {'start': '867.640', 'end': '870.490', 'text': 'Sheldon Whitehouse had been available,\nbut was that it?'}, {'start': '870.490', 'end': '873.760', 'text': 'Was that the last call for Democrats on\nCapitol Hill?'}, {'start': '873.760', 'end': '876.370', 'text': 'Is it up to the courts now?\nOh, I doubt that.'}, {'start': '876.370', 'end': '880.930', 'text': 'I suspect we will come back to the topic\nof the emergency, the emergency that'}, {'start': '880.930', 'end': '885.280', 'text': 'President Trump is using to justify\ntariffs on close partners and allies.'}, {'start': '885.910', 'end': '890.410', 'text': 'A number of us are likely going up to\nCanada for visits with our friends and'}, {'start': '890.410', 'end': '895.540', 'text': 'partners to the north of us.\nKnow the law now decades old that'}, {'start': '895.540', 'end': '899.800', 'text': 'President Trump has been relying on for\nhis power in order to impose'}, {'start': '900.010', 'end': '905.200', 'text': 'unilaterally imposed tariffs was not\nimagined to empower the president to'}, {'start': '905.200', 'end': '908.980', 'text': 'impose tough tariffs on partners and\nallies.'}, {'start': '909.280', 'end': '914.470', 'text': 'It was intended for use in wartime.\nSo there was a bipartisan vote in favor'}, {'start': '914.470', 'end': '918.460', 'text': "of reversing the emergency declaration\nthat Trump's relying on."}, {'start': '918.730', 'end': '921.340', 'text': "I don't think we've seen the last of our\nefforts to reverse that."}, {'start': '921.610', 'end': '924.940', 'text': 'One, when we consider the impact tariffs\nare having on American companies.'}, {'start': '924.970', 'end': '928.960', 'text': 'Apple, which just reported earnings, is\nnow estimating a $900 million cost'}, {'start': '928.960', 'end': '931.930', 'text': 'increase in the third quarter from these\ntariffs.'}, {'start': '931.930', 'end': '934.870', 'text': 'The president, though, contended\nyesterday that his tariff policy'}, {'start': '934.870', 'end': '937.870', 'text': "actually hasn't kicked in yet.\nThe stock market we are experiencing,"}, {'start': '937.870', 'end': '942.820', 'text': "the economy we are experiencing is still\nJoe Biden's plan is just flat out"}, {'start': '942.820', 'end': '946.000', 'text': 'ridiculous.\nHe tried to take credit for positives in'}, {'start': '946.000', 'end': '949.450', 'text': 'the stock market before he was elected\nand frankly, he needs to take'}, {'start': '949.450', 'end': '954.070', 'text': 'responsibility for his impact on the\nstock market, on consumer confidence and'}, {'start': '954.070', 'end': '957.610', 'text': 'growth in the economy, on the costs that\naverage Americans are facing.'}, {'start': '957.970', 'end': '962.200', 'text': 'He promised he would make America\naffordable on, what was it, day one.'}, {'start': '962.530', 'end': '967.360', 'text': "Now we're past day 100 and nothing's\ngoing down except the stock market."}, {'start': '967.360', 'end': '969.700', 'text': 'The price of eggs is up, the price of\ngas is up.'}, {'start': '969.910', 'end': '973.300', 'text': 'The price of the common things that\nfolks are concerned about, from'}, {'start': '973.300', 'end': '976.840', 'text': 'prescription drugs to housing has gone\nup, not down.'}, {'start': '977.050', 'end': '980.770', 'text': "And that's because of his decisions.\nI know you love a yes or no question,"}, {'start': '980.770', 'end': '982.570', 'text': 'Senator, to get back to where we\nstarted.'}, {'start': '982.840', 'end': '986.560', 'text': 'Are you prepared to vote no on the\nnomination of Michael Waltz as U.N.'}, {'start': '986.560', 'end': '988.920', 'text': 'ambassador?\nI may very well vote no.'}, {'start': '988.930', 'end': '992.770', 'text': 'I will keep an open mind.\nIt is my job in a confirmation hearing'}, {'start': '992.770', 'end': '997.480', 'text': 'to ask fair and reasonable questions, to\nkeep an open mind and be willing to work'}, {'start': '997.480', 'end': '1000.510', 'text': "across the aisle.\nBut right now, I've got a lot of"}, {'start': '1000.510', 'end': '1004.830', 'text': 'questions about his continued use of\nsignal, about signal gate and how this'}, {'start': '1004.830', 'end': '1009.450', 'text': 'has happened, and about how seriously he\ntakes handling highly classified'}, {'start': '1009.450', 'end': '1010.940', 'text': 'national security information.\nAll right.'}, {'start': '1010.950', 'end': '1013.380', 'text': 'Well, thank you for answering our\nquestions tonight, Senator.'}, {'start': '1013.380', 'end': '1015.510', 'text': "We appreciate your time.\nThat's the Democratic Senator Chris"}, {'start': '1015.510', 'end': '1018.450', 'text': 'Coons of Delaware joining us here in\nWashington.'}, {'start': '1018.870', 'end': '1022.020', 'text': 'And President Trump has announced, as we\njust discussed, secondary sanctions on'}, {'start': '1022.020', 'end': '1025.500', 'text': 'buyers of Iranian oil, the global\nsuperpower that could be hit hardest by'}, {'start': '1025.500', 'end': '1029.130', 'text': 'that announcement and more when Hogan\nJamali of British Media Strategies joins'}, {'start': '1029.130', 'end': '1031.290', 'text': 'us next on balance of power on Bloomberg\nTV.'}, {'start': '1031.470', 'end': '1031.910', 'text': 'And we.'}, {'start': '1047.730', 'end': '1051.570', 'text': 'Iran had no money when I was president.\nThey were out of money, They were bust.'}, {'start': '1052.080', 'end': '1054.300', 'text': "They had no money.\nThey weren't giving it to Hamas."}, {'start': '1054.720', 'end': '1057.510', 'text': "They weren't giving it to Hezbollah.\nThey weren't giving it to anybody"}, {'start': '1057.510', 'end': '1061.440', 'text': "because they didn't have any money.\nThey were just about bust."}, {'start': '1061.440', 'end': '1064.170', 'text': 'And in fact, I put sanctions on last\nnight.'}, {'start': '1064.710', 'end': '1070.170', 'text': 'Any oil that anybody takes from Iran is\nnot allowed to do business in the United'}, {'start': '1070.170', 'end': '1077.080', 'text': 'States of America.\nPresident Trump speaking here.'}, {'start': '1077.110', 'end': '1080.620', 'text': 'Balance of power on bloomberg TV and\nradio alongside Kailey Leinz.'}, {'start': '1080.620', 'end': '1082.090', 'text': "I'm joe matthew.\nThat was the president."}, {'start': '1082.090', 'end': '1086.350', 'text': 'Warning any person or country that buys\noil from iran will be hit with secondary'}, {'start': '1086.350', 'end': '1089.220', 'text': 'sanctions barred from doing any\nbusiness, he says.'}, {'start': '1089.560', 'end': '1092.860', 'text': 'With the u.s.\nthe largest buyer of iranian oil, China.'}, {'start': '1093.220', 'end': '1095.770', 'text': 'More on that development.\nPlus, the expected departure of National'}, {'start': '1095.770', 'end': '1099.850', 'text': 'security adviser Michael Waltz.\nNow with a cigar, Shabana, CEO and'}, {'start': '1099.850', 'end': '1103.480', 'text': 'founder of Greenwich Media Strategies,\nformer director of Syria and Lebanon of'}, {'start': '1103.480', 'end': '1106.390', 'text': "the National Security Council.\nIt's great to have you back with us."}, {'start': '1106.660', 'end': '1110.710', 'text': 'Hagar, your thoughts on this move today?\nWill China, in fact, be hurt the worst?'}, {'start': '1113.210', 'end': '1116.660', 'text': 'Well, you know, the target of the of the\nUnited States and under this'}, {'start': '1116.660', 'end': '1120.590', 'text': "administration particular is every move\nthat you're seeing is to target China in"}, {'start': '1120.590', 'end': '1124.220', 'text': "general.\nAnd so I would I and that's the one that"}, {'start': '1124.220', 'end': '1127.910', 'text': "you're seeing every time you see\nPresident Trump, for example, waver on"}, {'start': '1127.910', 'end': '1132.050', 'text': 'whatever negotiation or step or tariff\nthat it might be when it comes to China,'}, {'start': '1132.320', 'end': '1134.450', 'text': "he's he kind of goes all the way.\nRight."}, {'start': '1134.450', 'end': '1137.540', 'text': "He's intent on seeing it through.\nSo, yes, I think that China is going to"}, {'start': '1137.540', 'end': '1139.640', 'text': 'be the one that sees the other end of\nthis.'}, {'start': '1141.180', 'end': '1144.930', 'text': 'Well, but what about Iran?\nHAGER The intended effect is to put more'}, {'start': '1144.930', 'end': '1146.550', 'text': 'pressure on Tehran.\nWill it work?'}, {'start': '1148.590', 'end': '1150.600', 'text': 'I want Glenn on Iran.\nLet me walk it back a little bit,'}, {'start': '1150.600', 'end': '1154.020', 'text': 'because I think this is an important one\nunder Trump, 1.0.'}, {'start': '1154.350', 'end': '1159.030', 'text': 'When he pursued the maximum pressure\ncampaign on Iran, he significantly'}, {'start': '1159.330', 'end': '1162.030', 'text': 'though Iran significant, significantly\nfelt that pain.'}, {'start': '1162.030', 'end': '1166.500', 'text': "And we saw that he's accurate in saying\nthat we saw the ramifications of that"}, {'start': '1166.740', 'end': '1169.160', 'text': 'play out.\nFor example, on Hezbollah and Hamas,'}, {'start': '1169.170', 'end': '1172.800', 'text': 'there is a lot of intelligence they\ndeclassified at that time where they'}, {'start': '1173.070', 'end': '1176.280', 'text': "Hamas had to take austerity measures.\nHezbollah couldn't pay salaries."}, {'start': '1177.030', 'end': '1179.170', 'text': 'They had to reduce their budgets and so\non.'}, {'start': '1179.190', 'end': '1181.110', 'text': 'So this is something we knew that had\nhappened.'}, {'start': '1181.500', 'end': '1185.310', 'text': "And so for sure, this is also going to\nbe another part of and it's important"}, {'start': '1185.310', 'end': '1190.770', 'text': "when you're talking about doing this in\nthe middle of Iran negotiations, there"}, {'start': '1190.770', 'end': '1194.940', 'text': 'seems to be an effort to\ncompartmentalize talks regarding Iran'}, {'start': '1194.940', 'end': '1199.320', 'text': 'developing a nuclear weapon, and also an\neffort to ensure that Iran cannot'}, {'start': '1199.320', 'end': '1204.330', 'text': 'continue financing terrorism across the\nacross the Middle East, pursuing its'}, {'start': '1204.330', 'end': '1207.060', 'text': "expansionist policies.\nSo, yes, without a doubt, it's both."}, {'start': '1208.080', 'end': '1211.560', 'text': "There are just a number of steps.\nYou're seeing a number of maneuvers this"}, {'start': '1211.560', 'end': '1214.530', 'text': 'administration is making when, for\nexample, you could say the same when'}, {'start': '1214.530', 'end': '1219.900', 'text': 'they pursued secondary tariffs against\nVenezuela regarding anybody who imports'}, {'start': '1219.900', 'end': '1222.180', 'text': 'their oil.\nThis happened a few weeks ago.'}, {'start': '1222.330', 'end': '1225.420', 'text': "That is for sure, to undermine Nicolas\nMaduro's regime."}, {'start': '1225.630', 'end': '1228.030', 'text': "But who's the one that imports that oil?\nChina?"}, {'start': '1228.330', 'end': '1233.610', 'text': "So Trump is very focused on undermining\nChina's economic prowess and leveling"}, {'start': '1233.610', 'end': '1236.940', 'text': 'the playing field and so on.\nBut yes, of course, without a doubt, he'}, {'start': '1236.940', 'end': '1239.880', 'text': 'also wants to ensure that he pursues his\nnational security objectives vis a vis'}, {'start': '1239.880', 'end': '1241.020', 'text': 'Iran.\nYeah.'}, {'start': '1241.730', 'end': '1244.040', 'text': "I've got to ask you about the other big\nstory today."}, {'start': '1244.050', 'end': '1247.740', 'text': "As someone who's actually served on the\nNational Security Council."}, {'start': '1247.740', 'end': '1250.020', 'text': 'In your time, it was in the Obama\nadministration.'}, {'start': '1250.200', 'end': '1254.610', 'text': 'What does this departure of Mike Waltz\nmean for the national security apparatus'}, {'start': '1254.610', 'end': '1257.400', 'text': 'inside the White House?\nMarco Rubio is going to have five titles'}, {'start': '1257.400', 'end': '1259.520', 'text': 'on his business card now.\nYeah.'}, {'start': '1260.280', 'end': '1265.680', 'text': "Well, I will say that it's not you never\nwant that much volatility in general"}, {'start': '1265.680', 'end': '1269.100', 'text': 'when it comes to the NSC in particular.\nAnd this is specific to the National'}, {'start': '1269.100', 'end': '1273.240', 'text': 'Security Council.\nMost National Security Council leaders,'}, {'start': '1273.240', 'end': '1277.860', 'text': 'most national security advisers really\nview themselves as being part of the'}, {'start': '1277.860', 'end': '1279.360', 'text': "team.\nThey're very hands on."}, {'start': '1279.360', 'end': '1281.790', 'text': "They're in the weeds, you know, doing\nstrategies."}, {'start': '1281.790', 'end': '1284.400', 'text': "A lot of them, for example, don't take a\nlot of high level meetings."}, {'start': '1284.640', 'end': '1288.600', 'text': 'I worked at the NSC under Tom Donilon.\nBefore that it was General Jones, but'}, {'start': '1288.600', 'end': '1291.810', 'text': 'Tom Donilon in particular.\nThat was a big feature of his of the way'}, {'start': '1291.810', 'end': '1294.870', 'text': "he worked.\nHe didn't view himself as somebody who"}, {'start': '1294.870', 'end': '1297.590', 'text': 'should be out doing a lot of meetings\ninternationally.'}, {'start': '1297.600', 'end': '1300.530', 'text': 'He wanted to roll his sleeves up and and\ndo the dirty work.'}, {'start': '1300.540', 'end': '1305.130', 'text': 'And so this job that that that Walsh is\nbeing recommended for or appointed to'}, {'start': '1305.130', 'end': '1307.920', 'text': 'are nominated for is totally different\nto be ambassador at the U.S.'}, {'start': '1307.920', 'end': '1311.700', 'text': "the United Nations.\nThat's really a large part of it is is"}, {'start': '1311.820', 'end': '1313.860', 'text': 'speeches.\nI was at the U.N.'}, {'start': '1313.860', 'end': '1316.470', 'text': 'mission as well.\nSo I have intimate knowledge of both.'}, {'start': '1316.890', 'end': '1320.580', 'text': 'A lot of it is speeches.\nA lot of that is diplomatic meetings,'}, {'start': '1320.580', 'end': '1324.390', 'text': "bilateral meetings and so on.\nBut when you have you just don't want"}, {'start': '1324.390', 'end': '1329.820', 'text': 'that kind of turmoil in an office where\nthey view themselves as getting getting'}, {'start': '1329.820', 'end': '1333.000', 'text': 'their hands in the weeds, really\nfiguring out the strategy, the pros and'}, {'start': '1333.000', 'end': '1336.210', 'text': "cons of every policy option.\nSo it's just it's not going to help."}, {'start': '1336.210', 'end': '1338.610', 'text': "But I will say at the same time, it's\ngovernment, you know, we're all kind of"}, {'start': '1338.610', 'end': '1343.410', 'text': 'used to are used to political shifts and\nsudden shifts sometimes.'}, {'start': '1343.590', 'end': '1346.380', 'text': 'So it might, you know, it might disturb\na few things here and there.'}, {'start': '1346.380', 'end': '1349.050', 'text': "But they're going to continue for sure.\nThey'll continue moving on."}, {'start': '1349.230', 'end': '1354.120', 'text': "Most importantly is that according to\nthe press, reportedly I've seen and I'm"}, {'start': '1354.120', 'end': '1357.780', 'text': "sure you've all seen, that there are\nfolks who are really dismayed or"}, {'start': '1357.780', 'end': '1362.420', 'text': 'disappointed after what happened with\nSignal Gate and and where where this'}, {'start': '1362.430', 'end': '1365.790', 'text': 'national security adviser invited the\nroom or invited.'}, {'start': '1365.790', 'end': '1368.790', 'text': 'You have to leave it there for hours.\nJamali of Greenwich Media Strategies,'}, {'start': '1368.790', 'end': '1372.120', 'text': 'joining us here on balance of power on\nBloomberg TV and radio.'}, {'start': '1383.740', 'end': '1387.160', 'text': 'We are looking into him reviewing how\nthe heck he got into this room.'}, {'start': '1387.190', 'end': '1389.230', 'text': "We stand by Mike, What he's doing a\ntremendous job."}, {'start': '1389.230', 'end': '1392.860', 'text': 'I think this is a distraction.\nThe president has just written on truth'}, {'start': '1392.860', 'end': '1396.400', 'text': 'social that Mike Wallace is going to\nbecome the new U.S.'}, {'start': '1396.400', 'end': '1399.040', 'text': 'ambassador to the United Nations.\nWell, there you go.'}, {'start': '1399.670', 'end': '1404.650', 'text': 'Fabulous.\nThat last voice was State Department'}, {'start': '1404.650', 'end': '1408.820', 'text': 'spokesperson Tammy Bruce earlier today.\nTaken by surprise over this news,'}, {'start': '1409.150', 'end': '1412.150', 'text': 'President Trump announcing, quote, I am\npleased to announce that I will be'}, {'start': '1412.150', 'end': '1416.200', 'text': 'nominating Mike Waltz to be the next\nUnited States ambassador to the United'}, {'start': '1416.200', 'end': '1421.000', 'text': 'Nations, ending his rocky tenure as\nnational security advisor and now'}, {'start': '1421.000', 'end': '1424.780', 'text': "secretary of state.\nMarco Rubio's tenure in that role begins"}, {'start': '1424.810', 'end': '1428.650', 'text': 'as the president also says it will be he\nthat is serving in the position in the'}, {'start': '1428.650', 'end': '1430.660', 'text': 'interim.\nAnd joining us now here on balance of'}, {'start': '1430.660', 'end': '1434.290', 'text': 'power on Bloomberg TV and radio with\nmore on these developments is'}, {'start': '1434.290', 'end': '1437.860', 'text': "Bloomberg's Laura Davison.\nSo, Laura, this obviously was kind of a"}, {'start': '1437.860', 'end': '1440.950', 'text': "move slowly and then all at once thing\nwe've been talking about whether Mike"}, {'start': '1440.950', 'end': '1443.770', 'text': 'Wallace was in jeopardy for weeks over\nsignal gate.'}, {'start': '1443.770', 'end': '1447.670', 'text': 'It appeared that the White House was\ngoing to stand by its man and suddenly'}, {'start': '1447.670', 'end': '1449.320', 'text': "you've got some chess pieces moving\naround."}, {'start': '1449.320', 'end': '1452.980', 'text': "But he's not technically being fired or\neven departing the administration,"}, {'start': '1452.980', 'end': '1454.630', 'text': 'assuming he can be confirmed in some\nway.'}, {'start': '1454.640', 'end': '1457.480', 'text': 'He is it, you know, sort of being\npromoted up, I mean, out of the White'}, {'start': '1457.480', 'end': '1461.650', 'text': 'House, but in it to a very cushy job in\nNew York to be the ambassador to the'}, {'start': '1461.650', 'end': '1464.950', 'text': 'United Nations.\nThis is really there are two sort of'}, {'start': '1464.950', 'end': '1466.900', 'text': 'things here.\nOne, it was his involvement in the'}, {'start': '1466.900', 'end': '1471.760', 'text': 'signal chat, adding a journalist to this\nchat that sort of sparked sort of his is'}, {'start': '1471.760', 'end': '1473.680', 'text': 'the end of the beginning of the end, if\nyou will.'}, {'start': '1473.980', 'end': '1477.640', 'text': 'But it was also that there were these\nvoices around Trump, folks like Laura'}, {'start': '1477.640', 'end': '1481.720', 'text': 'Loomer, who were just not happy with the\nposition that Mike Walters was was'}, {'start': '1481.720', 'end': '1484.360', 'text': 'taking.\nHe was not quite fully in lockstep with'}, {'start': '1484.360', 'end': '1486.490', 'text': 'the MAGA base.\nHe was a little bit more hawkish.'}, {'start': '1486.700', 'end': '1490.780', 'text': "And because of that, that was sort of\nwhat led Trump to decide, Hey, let's"}, {'start': '1490.780', 'end': '1494.530', 'text': 'move this guy, you know, out of this,\nthis job, know that has that has Oval'}, {'start': '1494.530', 'end': '1497.100', 'text': "Office privileges very much in the\ncenter of Trump's universe."}, {'start': '1497.110', 'end': '1499.900', 'text': "You could argue this is the easiest\nfiring to make because it doesn't"}, {'start': '1499.900', 'end': '1502.930', 'text': 'require Senate confirmation to replace\nMike Wallace.'}, {'start': '1502.930', 'end': '1507.550', 'text': 'And we remember how long General Michael\nFlynn lasted in the first'}, {'start': '1507.550', 'end': '1510.400', 'text': 'administration.\nI think it was about 20 days on the same'}, {'start': '1510.400', 'end': '1513.220', 'text': "job.\nBut now he's set up for confirmation"}, {'start': '1513.220', 'end': '1515.110', 'text': 'hearings we just talked to Chris Coons\nabout.'}, {'start': '1515.110', 'end': '1516.880', 'text': "It doesn't sound like it's going to be\nfun."}, {'start': '1516.880', 'end': '1519.280', 'text': "What is he in for?\nHe's in for a bunch of really tough"}, {'start': '1519.280', 'end': '1523.180', 'text': 'questions from members of both parties\nwho are not happy with the use of signal'}, {'start': '1523.180', 'end': '1526.300', 'text': 'to communicate with with government\nofficials, with, you know, potentially'}, {'start': '1526.450', 'end': '1528.940', 'text': 'very sensitive information being shared\nin these chats.'}, {'start': '1529.480', 'end': '1531.790', 'text': "It's not clear that he's not going to\nget confirmed."}, {'start': '1531.910', 'end': '1533.680', 'text': 'You know, Republicans still have a three\nseat majority.'}, {'start': '1533.860', 'end': '1537.850', 'text': "It's likely that he will advance, but\nit's creates an opportunity for"}, {'start': '1537.850', 'end': '1540.940', 'text': 'Democrats to ask some really tough\nquestions and, you know, potentially'}, {'start': '1540.940', 'end': '1543.510', 'text': 'score some points on their opponents.\nLaura, thank you so much.'}, {'start': '1543.520', 'end': '1545.770', 'text': "Bloomberg's Laura Davidson with us in\nWashington."}, {'start': '1545.770', 'end': '1548.800', 'text': 'And for more, we turn now to Democratic\nCongressman Raja Krishnamoorthi of'}, {'start': '1548.800', 'end': '1552.430', 'text': 'Illinois, ranking member on the House\nChina Select Committee, a member of the'}, {'start': '1552.430', 'end': '1555.490', 'text': 'House Intel Committee.\nCongressman, welcome back to Balance of'}, {'start': '1555.490', 'end': '1557.050', 'text': "Power.\nIt's good to have you with us here."}, {'start': '1557.350', 'end': '1561.310', 'text': 'You actually know Michael Waltz, and I\nbelieve you two are pretty close, having'}, {'start': '1561.310', 'end': '1563.710', 'text': 'served together on the Intelligence\nCommittee.'}, {'start': '1563.710', 'end': '1568.390', 'text': "Chuck Schumer today says they're firing\nthe wrong guy, pointing to Pete Hegseth."}, {'start': '1568.390', 'end': '1571.210', 'text': 'Do you agree?\n100%.'}, {'start': '1571.210', 'end': '1576.670', 'text': "I think that Pete Hegseth needs to go.\nHe's an ongoing danger and a security"}, {'start': '1576.670', 'end': '1581.560', 'text': 'risk to the country.\nYou know, he installed a dirty line in'}, {'start': '1581.560', 'end': '1587.410', 'text': "his office, meaning a line that's not\nprotected and secure in order for him to"}, {'start': '1587.410', 'end': '1593.530', 'text': 'be able to signal his wife, his siblings\nand others with sensitive and I would'}, {'start': '1593.530', 'end': '1598.810', 'text': "argue is classified information.\nAnd we don't know the damage done by"}, {'start': '1598.810', 'end': '1602.080', 'text': "that type of security breach that's\nhappening every day."}, {'start': '1602.470', 'end': '1605.470', 'text': 'He needs to go.\nBut, you know, ultimately, I think that,'}, {'start': '1605.740', 'end': '1609.190', 'text': 'you know, shuffling these people in\nthese different positions is like'}, {'start': '1609.820', 'end': '1612.010', 'text': 'reshuffling the deck chairs on the\nTitanic.'}, {'start': '1612.010', 'end': '1616.360', 'text': "It's the foreign policy that's the\nproblem with this White House and"}, {'start': '1616.360', 'end': '1619.990', 'text': 'pushing our friends, partners and allies\naway, especially economically through'}, {'start': '1619.990', 'end': '1625.900', 'text': 'these trade wars, in addition to other\nactions, is really harming our national'}, {'start': '1625.900', 'end': '1630.870', 'text': 'security and our economic security.\nWell, when we consider national'}, {'start': '1630.870', 'end': '1634.230', 'text': 'security, though, Congressman, many of\neven your Democratic colleagues'}, {'start': '1634.230', 'end': '1637.830', 'text': 'suggested that Mike Waltz was actually\nsomething of a steady hand when dealing'}, {'start': '1637.830', 'end': '1640.950', 'text': 'with national security issues and\nintelligence.'}, {'start': '1641.250', 'end': '1645.630', 'text': 'Do you view national security is now\nbeing more endangered in whatever is'}, {'start': '1645.960', 'end': '1650.040', 'text': "left in terms of this vacuum that he's\nleaving in the inner circle in the White"}, {'start': '1650.040', 'end': '1653.150', 'text': 'House, or is it made more secure by his\ndeparture after signal gate?'}, {'start': '1653.880', 'end': '1656.310', 'text': "No, it's less secure.\nI mean, when you're listening to Laura"}, {'start': '1656.310', 'end': '1662.430', 'text': 'Leamer, of all people on personnel\nchanges, I think that you are making bad'}, {'start': '1662.430', 'end': '1665.820', 'text': 'decisions.\nAnd I think that right now the Trump'}, {'start': '1665.820', 'end': '1670.320', 'text': "administration is making bad decisions\non a number of fronts, whether it's in"}, {'start': '1670.320', 'end': '1673.860', 'text': 'Europe or in the Indo-Pacific with\nregards to the Chinese Communist Party.'}, {'start': '1674.160', 'end': '1678.390', 'text': 'I can tell you our adversaries are\ncheering with regard to these different'}, {'start': '1678.390', 'end': '1682.830', 'text': 'moves and the chaos that is happening in\nour foreign policy.'}, {'start': '1684.520', 'end': '1689.260', 'text': "Well, Beijing is not been cheering about\nPresident Trump's policies when it comes"}, {'start': '1689.260', 'end': '1692.500', 'text': 'to tariffs and any number of other\nissues.'}, {'start': '1692.510', 'end': '1696.430', 'text': "There's been a real back and forth on\nwhether we're actually talking to China"}, {'start': '1696.430', 'end': '1700.090', 'text': 'right now.\nCongressman, what are you hearing on the'}, {'start': '1700.090', 'end': '1703.780', 'text': 'China Select Committee about this?\nAnd when will there be a meeting between'}, {'start': '1703.780', 'end': '1706.630', 'text': "President Trump and Xi?\nI don't know."}, {'start': '1706.640', 'end': '1710.080', 'text': 'But,\nyou know, one of the most bizarre things'}, {'start': '1710.080', 'end': '1715.750', 'text': 'is when Donald Trump says that he is\ncurrently talking to Beijing or his'}, {'start': '1715.750', 'end': '1719.770', 'text': "administration is and they deny that\nthat's happening."}, {'start': '1720.700', 'end': '1725.830', 'text': 'You know, somebody is not telling the\ntruth or is just out of touch with'}, {'start': '1725.830', 'end': '1729.130', 'text': "reality.\nAnd I suspect it's the White House, it's"}, {'start': '1729.130', 'end': '1731.290', 'text': 'Donald Trump.\nSomething is wrong.'}, {'start': '1731.710', 'end': '1735.790', 'text': 'And I got to tell you, my constituents\nare livid right now with regard to these'}, {'start': '1735.790', 'end': '1738.760', 'text': 'tariffs.\nI just went on a little tariff tour of'}, {'start': '1738.760', 'end': '1743.320', 'text': "businesses in Illinois.\nAnd, you know, whether it's the shop"}, {'start': '1743.320', 'end': '1748.390', 'text': 'that is importing or, you know, bringing\nin fruits, flowers and vegetables and'}, {'start': '1748.390', 'end': '1752.620', 'text': 'having to pay tariffs and pass them\nalong to working families, or whether'}, {'start': '1752.620', 'end': '1758.080', 'text': "it's a soybean farmer who's facing\nretaliation from China on his soybean"}, {'start': '1758.080', 'end': '1762.190', 'text': "crops that he's exporting.\nThey are all upset with this president."}, {'start': '1762.190', 'end': '1765.190', 'text': "I think that's why he's extremely\nunpopular right now."}, {'start': '1767.030', 'end': '1770.870', 'text': 'Well, the president says, though, his\nultimate objective is with a longer term'}, {'start': '1770.870', 'end': '1774.920', 'text': 'lens, Congressman, that this actually is\nabout not just punishing China for what'}, {'start': '1774.920', 'end': '1778.190', 'text': 'this White House views as unfair trade\npractices, but also for getting other'}, {'start': '1778.670', 'end': '1783.740', 'text': 'allies and trading partners together to\ncounter China and its overcapacity in'}, {'start': '1783.740', 'end': '1786.710', 'text': 'its share output.\nIn terms of manufacturing, are there'}, {'start': '1786.710', 'end': '1790.310', 'text': 'better ways to go about this or is there\nactually something right about the'}, {'start': '1790.310', 'end': '1793.610', 'text': 'strategy here, if not the kind of the\nlevel of tariffs that have been'}, {'start': '1793.610', 'end': '1797.120', 'text': "implemented in order to see it through?\nYeah, there's a better way."}, {'start': '1797.180', 'end': '1803.030', 'text': "You don't declare a trade war on Canada,\nfor instance, which the Wall Street"}, {'start': '1803.030', 'end': '1806.750', 'text': 'Journal, which is no liberal newspaper\ncalled the dumbest trade war in history.'}, {'start': '1806.990', 'end': '1811.610', 'text': 'You need your friends, partners and\nallies to work with you to curb the'}, {'start': '1811.610', 'end': '1816.590', 'text': 'economic aggression that China practices\nwith regard to certain industries.'}, {'start': '1816.950', 'end': '1820.340', 'text': 'And yes, we all need to work together to\ndo that.'}, {'start': '1820.350', 'end': '1824.300', 'text': "But when you're pushing your friends,\npartners and allies away, you're unable"}, {'start': '1824.300', 'end': '1828.140', 'text': 'to do so.\nAnd as a consequence, everybody faces'}, {'start': '1828.140', 'end': '1832.370', 'text': "higher prices on everything.\nAnd that's why the economy shrank in the"}, {'start': '1832.370', 'end': '1835.640', 'text': "first quarter.\nThat's why we're probably heading into a"}, {'start': '1835.640', 'end': '1839.060', 'text': 'recession as we speak, Why the markets\nare tumbling.'}, {'start': '1839.270', 'end': '1843.350', 'text': 'And why people I mean, I literally hear\nthis from Republicans, Democrats and'}, {'start': '1843.350', 'end': '1848.030', 'text': 'independents everywhere, which is the\ntwo words chaos and uncertainty.'}, {'start': '1848.990', 'end': '1851.660', 'text': "Mm hmm.\nSo it sounds like it's the way the White"}, {'start': '1851.660', 'end': '1854.930', 'text': "House is going about it, the way it's\nexecuting the plan that has you"}, {'start': '1854.930', 'end': '1857.210', 'text': 'concerned.\nBecause as the ranking member on the'}, {'start': '1857.210', 'end': '1860.720', 'text': 'China Select Committee, you can\nappreciate the bipartisan nature of'}, {'start': '1860.720', 'end': '1863.900', 'text': 'wanting to crack down on China.\nRight When the White House talks about'}, {'start': '1863.900', 'end': '1868.550', 'text': 'China stealing our intellectual\nproperty, dumping goods, manipulating'}, {'start': '1868.550', 'end': '1871.010', 'text': 'currencies.\nYou actually agree with the president on'}, {'start': '1871.010', 'end': '1874.940', 'text': 'all of those, right?\nI agree that that is happening with'}, {'start': '1874.940', 'end': '1879.560', 'text': 'regard to China.\nHowever, when you go about your trade'}, {'start': '1879.560', 'end': '1885.020', 'text': "policy in the way in which they've gone\nabout it, you're not able to effectively"}, {'start': '1885.020', 'end': '1888.740', 'text': 'deal with the underlying economic\naggression that China is pursuing.'}, {'start': '1889.070', 'end': '1894.110', 'text': 'And that is what allows China an opening\nto do its own trade deals with other'}, {'start': '1894.110', 'end': '1899.450', 'text': 'countries and set different trade rules\nand basically normalize, if you will,'}, {'start': '1899.450', 'end': '1903.620', 'text': "the aggression that they're practicing,\nwhether it's dumping or IP theft or, for"}, {'start': '1903.620', 'end': '1907.340', 'text': 'that matter, cyber hacking, which it\ndoes on an industrial scale.'}, {'start': '1909.660', 'end': '1913.140', 'text': 'Congressman, you obviously are speaking\nto us in your capacity as not just a'}, {'start': '1913.140', 'end': '1915.800', 'text': 'member of the committee, but as a member\nof the House of Representatives now.'}, {'start': '1915.810', 'end': '1918.840', 'text': "But I'm sure you're well aware of the\nbuzz around a potential Senate run to"}, {'start': '1918.840', 'end': '1921.900', 'text': 'replace the retiring Senator, Dick\nDurbin.'}, {'start': '1921.900', 'end': '1924.330', 'text': "I believe you've said you will have an\nannouncement on that soon."}, {'start': '1924.360', 'end': '1928.710', 'text': "Is there a better time to announce a\ncandidacy than when you're on a tour of"}, {'start': '1928.740', 'end': '1931.590', 'text': 'tour, when you have these issues to talk\nabout?'}, {'start': '1931.590', 'end': '1933.420', 'text': 'What are you waiting for to make a\ndecision?'}, {'start': '1934.320', 'end': '1937.380', 'text': "Well, I'm going to have an announcement\non this shortly."}, {'start': '1938.040', 'end': '1943.350', 'text': "Right now, though, I'm laser focused on\nkind of the chaos and uncertainty that"}, {'start': '1943.350', 'end': '1948.050', 'text': 'people are complaining about, trying to\nshine a light on it and, you know,'}, {'start': '1948.060', 'end': '1952.350', 'text': 'trying to do whatever we can to hold\npeople accountable on the other side who'}, {'start': '1952.350', 'end': '1958.320', 'text': 'are not willing to, you know, take\naction and steps to to end it.'}, {'start': '1959.040', 'end': '1962.640', 'text': 'I should just mention one other thing,\nwhich is when I talk about this chaos'}, {'start': '1962.640', 'end': '1966.360', 'text': 'and uncertainty that I also hear about a\ncouple other things at the same time.'}, {'start': '1966.740', 'end': '1970.680', 'text': "They're they're worried about cuts to\nMedicaid as well as Medicare and Social"}, {'start': '1970.680', 'end': '1972.620', 'text': 'Security that might be on the chopping\nblock.'}, {'start': '1972.630', 'end': '1976.710', 'text': 'And they are livid.\nThey are livid about some of these'}, {'start': '1976.710', 'end': '1981.390', 'text': 'deportations of American citizens,\nincluding two, four and seven year olds'}, {'start': '1981.960', 'end': '1985.200', 'text': 'without any due process.\nI mean, this is the type of thing that'}, {'start': '1986.070', 'end': '1988.920', 'text': "they just don't want to see happen in\nthe United States of America."}, {'start': '1991.670', 'end': '1995.780', 'text': 'But just to be clear on your timing, how\nquickly are we talking here, considering'}, {'start': '1995.780', 'end': '1998.810', 'text': 'the lieutenant governor is picking up\nendorsements and there does seem to be'}, {'start': '1998.810', 'end': '2003.400', 'text': 'some degree of momentum behind that?\nIn the near future.'}, {'start': '2004.240', 'end': '2008.980', 'text': 'And I have to say that, you know, Dick\nDurbin, one of our greatest senators,'}, {'start': '2008.980', 'end': '2012.970', 'text': "and he's he's still serving and he's\ngoing to continue the fight in the"}, {'start': '2012.970', 'end': '2016.350', 'text': 'Senate for the remaining time in his\nterm.'}, {'start': '2016.630', 'end': '2022.480', 'text': "And we're looking forward to\nnext steps at the appropriate time."}, {'start': '2024.030', 'end': '2024.960', 'text': 'All right.\nWe had to try.'}, {'start': '2024.990', 'end': '2027.690', 'text': 'Democratic Congressman Raja\nKrishnamoorthi of Illinois, thank you,'}, {'start': '2027.690', 'end': '2030.210', 'text': 'as always, for joining us here on\nbalance of power.'}, {'start': '2031.110', 'end': '2034.230', 'text': 'Now, President Trump today meeting with\nHouse Republicans to discuss potential'}, {'start': '2034.230', 'end': '2036.840', 'text': 'cuts to Medicaid as part of their\nmassive tax package.'}, {'start': '2036.900', 'end': '2039.810', 'text': "We'll discuss the divide over the\nbenefits program when we assemble our"}, {'start': '2039.810', 'end': '2043.590', 'text': 'political panel next on balance of power\nfrom Bloomberg TV and Rick.'}, {'start': '2060.000', 'end': '2063.630', 'text': "I don't believe at the end of the day\nthat Donald Trump is going to hurt our"}, {'start': '2063.630', 'end': '2066.300', 'text': "elderly or our kids.\nI don't believe that at all."}, {'start': '2066.330', 'end': '2069.210', 'text': 'Donald Trump, his administration and\nExtreme MAGA.'}, {'start': '2069.210', 'end': '2076.679', 'text': 'Republicans in the House are undermining\neverything that matters to the American'}, {'start': '2076.679', 'end': '2084.210', 'text': 'people, including trying to take a\nchainsaw to Medicare Medicaid.'}, {'start': '2084.239', 'end': '2089.040', 'text': 'There is a group of us that will not\nsupport any package that would diminish,'}, {'start': '2089.820', 'end': '2095.550', 'text': 'meaning taking individuals who are\nlegally eligible for Medicaid off the'}, {'start': '2095.550', 'end': '2097.950', 'text': "rolls.\nFrankly, they're lying saying that"}, {'start': '2097.950', 'end': '2102.590', 'text': "Medicaid is not a part of it.\nThere's no way they can meet their 4.5"}, {'start': '2102.590', 'end': '2107.040', 'text': 'trillion that they are trying to find to\ngive to the wealthiest among us.'}, {'start': '2107.280', 'end': '2111.530', 'text': "If they don't cut Medicaid, they're\nlying, waste, fraud and abuse."}, {'start': '2111.540', 'end': '2115.050', 'text': 'And I believe that that has to be looked\nat.'}, {'start': '2115.380', 'end': '2117.920', 'text': 'I mean, what a disservice to the\ntaxpayer, frankly.'}, {'start': '2117.930', 'end': '2122.250', 'text': 'What a disservice to those that\nlegitimately need this this help.'}, {'start': '2122.280', 'end': '2128.100', 'text': "We're going to see some\nkind of really damaging legislation come"}, {'start': '2128.100', 'end': '2132.150', 'text': 'out, devastating cuts to Medicaid that\nwill hurt families all across the'}, {'start': '2132.150', 'end': '2137.380', 'text': "country.\nLet's ask Republican and Democratic"}, {'start': '2137.380', 'end': '2140.800', 'text': 'lawmakers over the last month discussing\nthe potential cuts to Medicaid that'}, {'start': '2140.800', 'end': '2143.650', 'text': "could be included in Congress's massive\ntax and spending bill."}, {'start': '2143.980', 'end': '2146.440', 'text': 'President Trump met with House\nRepublicans on the issue today as they'}, {'start': '2146.440', 'end': '2148.750', 'text': 'work through the budget reconciliation\nprocess.'}, {'start': '2149.050', 'end': '2151.750', 'text': 'And joining us now for more here on\nbalance of power on Bloomberg TV and'}, {'start': '2151.750', 'end': '2155.020', 'text': "radio is this evening's political panel.\nRoger Fiske, former aide to President"}, {'start': '2155.020', 'end': '2159.220', 'text': 'Obama, and Democratic strategist\nalongside Republican strategist Rob'}, {'start': '2159.220', 'end': '2162.310', 'text': 'Waters, who is now managing partner at\nthe Madison Group.'}, {'start': '2162.340', 'end': '2164.980', 'text': 'Good to see you both.\nRob, as we consider the fact that'}, {'start': '2164.980', 'end': '2169.120', 'text': 'President Trump has said repeatedly\nthere will be no cuts to Medicaid, it'}, {'start': '2169.120', 'end': '2172.150', 'text': 'still raises a question of whether there\nhave to be cuts for Medicaid if this'}, {'start': '2172.150', 'end': '2175.210', 'text': 'ever stands a chance of getting through\nboth chambers of Congress.'}, {'start': '2175.240', 'end': '2178.220', 'text': 'Well, you know, first, good to see you,\nRoger.'}, {'start': '2178.240', 'end': '2180.790', 'text': 'Always good to be here, Joe.\nThank you.'}, {'start': '2181.000', 'end': '2184.210', 'text': "And no, they're not going to be Medicaid\ncuts because members of Congress have"}, {'start': '2184.210', 'end': '2185.800', 'text': "said they're not going to be Medicaid\ncuts."}, {'start': '2187.020', 'end': '2191.100', 'text': 'Ranking members of Congress.\nChairmen have said it, President Trump'}, {'start': '2191.100', 'end': '2193.050', 'text': "has said it.\nThere's not going to be Medicare cuts."}, {'start': '2193.050', 'end': '2195.960', 'text': "They're not going to went even further\nlast weekend to say that we could"}, {'start': '2195.960', 'end': '2200.280', 'text': "increase funding for for Medicaid.\nI don't know how much of that is"}, {'start': '2200.280', 'end': '2202.620', 'text': 'semantics based on the growth of the\nprogram.'}, {'start': '2202.740', 'end': '2207.450', 'text': 'But could you see that happening?\nBecause I can see how I can see how'}, {'start': '2207.750', 'end': '2210.690', 'text': "we're not going to have Medicaid cuts\nnow."}, {'start': '2210.690', 'end': '2215.340', 'text': "I think there's going to be a great\ndiscussion about taxes on tips and what"}, {'start': '2215.340', 'end': '2218.970', 'text': "that looks like and, you know, whether\nor not we're all going to make a dollar"}, {'start': '2218.970', 'end': '2221.940', 'text': 'and then get tipped everything else.\nAnd you know where that goes.'}, {'start': '2221.940', 'end': '2225.450', 'text': "I'm not confident that that actually\nclears the House or the Senate."}, {'start': '2225.450', 'end': '2232.080', 'text': "But I know for a fact the 2017 tax cuts\nare coming and they're not going to cut"}, {'start': '2232.080', 'end': '2233.500', 'text': 'Medicaid.\nOkay.'}, {'start': '2233.520', 'end': '2237.540', 'text': 'So does that just mean the deficit gets\nbigger because you got to find the'}, {'start': '2237.540', 'end': '2239.910', 'text': 'offset somewhere?\nRoger, where are they, if not in these'}, {'start': '2239.910', 'end': '2242.370', 'text': 'programs?\nWell, thank you for having me and great'}, {'start': '2242.370', 'end': '2246.510', 'text': 'to be here with Rob.\nIt will shock absolutely no one to hear'}, {'start': '2246.510', 'end': '2248.250', 'text': "that.\nI don't share his optimism on this,"}, {'start': '2248.340', 'end': '2253.110', 'text': 'although technically, I think what we\nwill see is a slowing in the growth of'}, {'start': '2253.110', 'end': '2257.400', 'text': 'Medicaid.\nSo then the question is, is how much do'}, {'start': '2257.400', 'end': '2261.360', 'text': 'they want to\nplay in the gray area of what that'}, {'start': '2261.360', 'end': '2265.470', 'text': 'mathematical equation means for funding\non a year by year basis?'}, {'start': '2266.040', 'end': '2270.570', 'text': 'I do think that that ultimately the\nuniverse has a sense of humor.'}, {'start': '2270.570', 'end': '2273.990', 'text': 'And what I envision at the end of this\nrainbow for the Republican majority,'}, {'start': '2274.590', 'end': '2278.040', 'text': "there's three and a half million people\nin Florida on Obamacare and there are"}, {'start': '2278.040', 'end': '2281.370', 'text': '700,000 people in in Kentucky on\nObamacare.'}, {'start': '2281.730', 'end': '2287.040', 'text': "And at some point where whether it's a\nslowdown in growth of Medicaid funding,"}, {'start': '2287.040', 'end': '2293.700', 'text': 'etc., I envision disruptive town hall\nmeetings where actually swing district'}, {'start': '2293.700', 'end': '2299.370', 'text': 'Republicans have to answer for cuts to\nObamacare, and that will be karma coming'}, {'start': '2299.370', 'end': '2301.260', 'text': "full circle.\nThat's through the looking glass for"}, {'start': '2301.260', 'end': '2303.240', 'text': "someone who worked for Barack Obama, I'm\nguessing."}, {'start': '2303.360', 'end': '2306.660', 'text': 'Exactly.\nAnd we remember in 2010 the uproar that'}, {'start': '2306.660', 'end': '2310.200', 'text': 'that created and that it will now come\nfull circle where people will actually'}, {'start': '2310.200', 'end': '2312.270', 'text': 'be defending and insisting that it\ncontinue.'}, {'start': '2312.270', 'end': '2314.880', 'text': 'That would, of course, require lawmakers\nto hold town hall meetings.'}, {'start': '2315.330', 'end': '2318.750', 'text': "Well, yes, some of them have.\nWe've seen how some of those have gone."}, {'start': '2318.750', 'end': '2321.450', 'text': "There's a lot of upset in some of these\ndistricts."}, {'start': '2321.450', 'end': '2323.940', 'text': 'And you mentioned Florida, Roger, I do\nwant to talk about Florida, which just'}, {'start': '2323.940', 'end': '2327.930', 'text': 'had a special election, in fact, to\nreplace in one district, Mike Waltz, who'}, {'start': '2327.930', 'end': '2332.520', 'text': 'left Congress in order to serve as\nnational security advisor and will be'}, {'start': '2332.520', 'end': '2334.860', 'text': 'will be confirmed as U.N.\nambassador.'}, {'start': '2335.490', 'end': '2338.820', 'text': 'But what do you make of the fact that it\nis now a movement to U.N.'}, {'start': '2338.820', 'end': '2341.760', 'text': "ambassador instead of nationally?\nI think he's in I think he's incredible."}, {'start': '2341.790', 'end': '2343.860', 'text': "I think he's incredibly qualified to be\nU.N."}, {'start': '2343.860', 'end': '2347.340', 'text': 'security ambassador.\nAnd, you know, and I think the president'}, {'start': '2347.340', 'end': '2349.020', 'text': 'will fill out his national security\nteam.'}, {'start': '2349.020', 'end': '2356.070', 'text': "But I'm most pleased that Secretary\nRubio is also very capably acting"}, {'start': '2356.070', 'end': '2359.520', 'text': 'national security adviser.\nAnd, you know, following in the steps of'}, {'start': '2359.520', 'end': '2363.930', 'text': "other great national security adviser\nand and secretaries of state that we've"}, {'start': '2363.930', 'end': '2366.090', 'text': 'known in the past.\nWhat do you think it is this Kissinger'}, {'start': '2366.120', 'end': '2368.820', 'text': 'developments today?\nRoger, this was interesting.'}, {'start': '2368.820', 'end': '2372.030', 'text': 'Some suggest the White House did not\nhave this plan when the president woke'}, {'start': '2372.030', 'end': '2376.290', 'text': "up this morning.\nIt strikes me that Steve, with Coffin's"}, {'start': '2376.290', 'end': '2380.460', 'text': 'actually carrying much more of the water\nthat a secretary of state traditionally'}, {'start': '2380.460', 'end': '2384.180', 'text': 'would.\nAnd ironically, I think Mike Waltz ends'}, {'start': '2384.180', 'end': '2390.930', 'text': 'up taking this hit because his testimony\nwith DNI Gabbard next to him, I think'}, {'start': '2390.930', 'end': '2394.440', 'text': "was very weak television, which I think\nit's fair to say in the Trump world, is"}, {'start': '2394.440', 'end': '2396.060', 'text': 'one of the worst crimes that you can\ncommit.'}, {'start': '2396.060', 'end': '2399.870', 'text': "It's to not be good TV.\nAnd the weird thing about that is, is"}, {'start': '2399.870', 'end': '2404.490', 'text': "that now he's going to have to go back\nto the Senate and we can all picture the"}, {'start': '2404.490', 'end': '2408.150', 'text': 'kind of made for the camera, made for\nsocial media moments that some of these'}, {'start': '2408.150', 'end': '2411.390', 'text': 'members are going to have\nas they take Mr.'}, {'start': '2411.390', 'end': '2416.310', 'text': 'Waltz to task over his stewardship of\nthe national security thus far.'}, {'start': '2417.180', 'end': '2420.870', 'text': 'And then it feeds into the larger\nnarrative of whether or not the momentum'}, {'start': '2420.870', 'end': '2424.290', 'text': 'continues and the leaking continues\naround Secretary Hague, Seth and all'}, {'start': '2424.290', 'end': '2428.490', 'text': "that.\nSo it's it's it's not good."}, {'start': '2428.490', 'end': '2433.290', 'text': 'And and then the idea that that\nSecretary Rubio is going to be doing two'}, {'start': '2433.290', 'end': '2436.560', 'text': 'and three different jobs I think is not\nnot serious.'}, {'start': '2436.980', 'end': '2440.010', 'text': 'Well we talked about all of this was\nsomeone who will get to participate in'}, {'start': '2440.010', 'end': '2441.810', 'text': 'the questioning in that confirmation\nhearing.'}, {'start': '2441.810', 'end': '2445.320', 'text': 'Democratic Senator Chris Coons of\nDelaware was with us earlier this hour.'}, {'start': '2447.920', 'end': '2451.670', 'text': 'Who I think should be fired is secretary\nheadsets, because at the end of the day,'}, {'start': '2451.970', 'end': '2456.980', 'text': "he's the one who has repeatedly misused\ncritical classified information, added"}, {'start': '2456.980', 'end': '2461.150', 'text': "various people to different signal chats\nand chains, and hasn't faced any"}, {'start': '2461.150', 'end': '2462.920', 'text': 'accountability.\nSo they got the wrong guy.'}, {'start': '2463.550', 'end': '2468.830', 'text': "That's partly my view, yes.\nDoes this take up or reduce the heat on"}, {'start': '2468.830', 'end': '2472.250', 'text': 'Pete Hegseth, Rob?\nListen.'}, {'start': '2473.630', 'end': '2476.330', 'text': "We've got a great team at the Department\nof Defense."}, {'start': '2476.330', 'end': '2480.950', 'text': "Our deputy secretary is unbelievable.\nThere's been some turnover on that team,"}, {'start': '2480.950', 'end': '2482.780', 'text': 'too.\nI mean, you know, look.'}, {'start': '2484.880', 'end': '2487.940', 'text': 'People change?\nCould our deputy secretary find himself'}, {'start': '2488.480', 'end': '2492.350', 'text': 'running the Pentagon sometime soon?\nI mean, anything is possible, but'}, {'start': '2492.350', 'end': '2494.270', 'text': "probably not.\nWell, there's a kind of a question, and"}, {'start': '2494.270', 'end': '2497.120', 'text': "you've been around Washington enough to\nhave it maybe take a swing at this."}, {'start': '2497.630', 'end': '2502.010', 'text': 'Once the door starts revolving, does\nthat make it easier for someone else to'}, {'start': '2502.010', 'end': '2506.990', 'text': 'go or does this actually give Pete\nHegseth some time, take the glare off of'}, {'start': '2506.990', 'end': '2509.150', 'text': "what he's doing?\nThe president doesn't want to make a"}, {'start': '2509.150', 'end': '2512.210', 'text': 'change following this immediately.\nYou know, both Roger and I have worked'}, {'start': '2512.210', 'end': '2517.430', 'text': "for an administration, and usually by\nthe second year, especially if it's your"}, {'start': '2517.430', 'end': '2521.210', 'text': "last term, people start to go anyway.\nIt's just a natural thing."}, {'start': '2521.480', 'end': '2527.690', 'text': 'What is making this amazing just to\nwatch from a political nature and Roger'}, {'start': '2527.690', 'end': '2532.490', 'text': 'and I hope you agree, is is not the\nmistakes that are being made.'}, {'start': '2532.520', 'end': '2537.530', 'text': "It's the fact that the Democrats are so\nincapable of actually messaging."}, {'start': '2538.060', 'end': '2542.330', 'text': "I mean, if you guys had a convention\ntoday, literally, you'd probably make"}, {'start': '2542.330', 'end': '2545.720', 'text': 'Hamas your leader.\nIt is so ridiculous on how it is going.'}, {'start': '2546.080', 'end': '2552.680', 'text': "And no matter what anybody thinks, I'm a\nlittle bit more sanguine on the fact"}, {'start': '2552.680', 'end': '2558.440', 'text': "that they couldn't get their act\ntogether to come against it."}, {'start': '2558.660', 'end': '2561.560', 'text': "It's it's bizarre to me.\nRoger, your response?"}, {'start': '2562.550', 'end': '2567.080', 'text': "I don't foresee Hamas being any part of\nthe Democratic leadership any time soon."}, {'start': '2568.550', 'end': '2573.770', 'text': 'But I\nwant to go back to the original question'}, {'start': '2573.770', 'end': '2578.210', 'text': "about Secretary Haig says, what what\nreally grabs people's attention is a is"}, {'start': '2578.210', 'end': '2584.090', 'text': 'a pattern.\nAnd and then the inner beltway dynamics'}, {'start': '2584.090', 'end': '2589.430', 'text': 'of this are the intense leaking.\nI thought the first Trump administration'}, {'start': '2589.430', 'end': '2592.790', 'text': 'was the most porous that we had ever\nhad, or at least in modern times.'}, {'start': '2593.180', 'end': '2598.430', 'text': 'And you can see almost on a day to day\nbasis, people jockeying to push one'}, {'start': '2598.430', 'end': '2604.490', 'text': 'person out or or trying to impugn the\nthe the integrity of or effectiveness'}, {'start': '2604.490', 'end': '2606.740', 'text': 'professionalism of another.\nSo'}, {'start': '2607.850', 'end': '2611.810', 'text': "it's not good this early on.\nYou could say he lasted, what, ten?"}, {'start': '2611.810', 'end': '2618.380', 'text': 'SCARAMUCCI These are three months, 9.2\nhimself, according to the man Blotters.'}, {'start': '2618.380', 'end': '2621.330', 'text': 'And Roger Fisk, a great panel and a\ngreat conversation.'}, {'start': '2621.350', 'end': '2624.890', 'text': 'Thank you so much.\nTomorrow is Jobs day, April, payrolls'}, {'start': '2624.890', 'end': '2627.020', 'text': 'out in the morning.\nThe question is, will the report show a'}, {'start': '2627.020', 'end': '2630.260', 'text': 'hiring slowdown amid the uncertainty\nover tariffs?'}, {'start': '2630.290', 'end': '2633.350', 'text': "We'll look ahead at the data next.\nOn balance of power on Bloomberg TV and"}, {'start': '2633.350', 'end': '2633.800', 'text': 'radio.'}, {'start': '2654.600', 'end': '2658.080', 'text': 'Its balance of power on Bloomberg TV and\nradio alongside Kailey Leinz.'}, {'start': '2658.080', 'end': '2659.670', 'text': "I'm Joe Matthew.\nThanks for being with us."}, {'start': '2660.060', 'end': '2663.420', 'text': 'President Trump is en route to the\nUniversity of Alabama right now, set to'}, {'start': '2663.420', 'end': '2665.760', 'text': 'give a commencement speech in Tuscaloosa\ntonight.'}, {'start': '2666.000', 'end': '2670.770', 'text': 'A live look of the room that is waiting\nfor him as he is set to speak a short'}, {'start': '2670.770', 'end': '2673.020', 'text': 'time from now.\nAnd, of course, then we look ahead to'}, {'start': '2673.020', 'end': '2676.020', 'text': 'tomorrow when the Bureau of Labor\nStatistics is set to release their April'}, {'start': '2676.020', 'end': '2678.840', 'text': 'jobs report.\nThe estimate for nonfarm payrolls,'}, {'start': '2678.840', 'end': '2683.240', 'text': '130,000, the expected unemployment rate,\n4.2%.'}, {'start': '2683.250', 'end': '2685.250', 'text': "And of course, we'll have analysis of\nthose numbers tomorrow."}, {'start': '2685.260', 'end': '2687.630', 'text': 'Plus what it means politically for the\npresident.'}, {'start': '2687.660', 'end': '2690.060', 'text': 'You can get more of that in the\nWashington Edition newsletter on the'}, {'start': '2690.060', 'end': '2694.080', 'text': 'terminal and online and here on balance\nof power on Bloomberg TV and radio.'}]