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Midterms Notch Record Early Voting, Ad Spending · Balance of Power

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  Speaker 1: Bloomberg Audio Studios.
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  Speaker 2: Podcasts. Radio.
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  Speaker 3: News.
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  Speaker 4: You're listening to the Bloomberg Balance of Power podcast. Catch
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  Speaker 4: us live weekdays at noon and 5 p.m. Eastern on
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  Speaker 4: Listen on demand wherever you get your podcasts or watch
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  Speaker 4: us live on YouTube.
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  Speaker 1: This is it. We finally made it.
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  Speaker 2: Welcome to Election Day in America. No more polls, no
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  Speaker 2: more commercials. It's time for people to actually vote. I'm
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  Speaker 2: Joe Matthew alongside Kayleigh Lyons at Bloomberg World's Headquarters in
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  Speaker 2: New York.
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  Speaker 1: Happy Election Day. We made it.
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  Speaker 5: We have long awaited this moment. It is finally upon
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  Speaker 5: us as we crisscross the map this hour, looking at
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  Speaker 5: where opportunities for potential Democratic pickups are and, of course,
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  Speaker 5: Republicans trying to to be on defense in a number
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  Speaker 5: of districts that could ultimately decide the balance of power.
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  Speaker 5: President Trump himself has been crisscrossing the country. He did, what,
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  Speaker 5: some 32 events in 20 different states over the last
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  Speaker 5: month or so. But interestingly, chose for his closing message
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  Speaker 5: the day before the midterms to speak from right around
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  Speaker 5: the corner in D.C., the Lincoln Memorial, or maybe more specifically,
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  Speaker 5: the reflecting pool that he worked so hard to remodel.
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  Speaker 5: Here's part of the president's closing message yesterday.
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  Speaker 6: A good portion of them we will win in a landslide. Now,
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  Speaker 6: that doesn't happen because usually whoever the sitting president is,
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  Speaker 6: Republican or Democrat, good or bad, good.
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  Speaker 1: President, great president, bad.
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  Speaker 6: For some reason, the sitting president doesn't win the midterms,
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  Speaker 6: but we gave this a very strong shot.
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  Speaker 2: We learned a lot about re-caulking and renovations over the
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  Speaker 2: course of that roughly 25-minute address. Les, on the closing
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  Speaker 2: message from Republicans. Now, we're going to go around the
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  Speaker 2: horn here with Jen DeLui at the White House. Brooke
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  Speaker 2: Sutherland's in Maine. Skyler Woodhouse is in Iowa. Kayleigh and
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  Speaker 2: I here at World Headquarters.
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  Speaker 1: In New York.
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  Speaker 2: And we want to start, Jen, with you on the
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  Speaker 2: North Lawn of the White House. What is the closing
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  Speaker 2: message from the president?
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  Speaker 7: Well, you played it there. You know, the president obviously
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  Speaker 7: did this unorthodox appeal from the reflecting pool yesterday where
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  Speaker 7: he spoke more about, you know, refurbishment of the reflecting
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  Speaker 7: pool and his construction projects around Washington, then deliver kind
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  Speaker 7: of a classic appeal to voters ahead of Election Day.
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  Speaker 4: Still.
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  Speaker 7: Later in that speech and in a pair of Fox
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  Speaker 7: News interviews, he, you know, made an appeal to voters
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  Speaker 7: saying that they shouldn't be voting for Democratic candidates who
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  Speaker 7: are out of touch with most voters. He emphasized his
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  Speaker 7: crackdown on illegal immigration. And he touted tax cuts that
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  Speaker 7: came about as part of last year's One Big Beautiful
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  Speaker 7: Bill Act. He also repeated some of his rally pitch
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  Speaker 7: to Americans. He said the country was now hotter than ever,
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  Speaker 7: something we've heard him say a lot, that his tariff
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  Speaker 7: policy has driven a lot of investment into domestic manufacturing. And,
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  Speaker 7: you know, he declared inflation was over in the U.S.
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  Speaker 7: And that's, of course, despite U.S. data showing that it's
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  Speaker 7: trending well above the 2 percent target rate for the Fed.
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  Speaker 5: Well, Jen, walk us through how different the president's world
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  Speaker 5: could look tomorrow or maybe more specifically in January if
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  Speaker 5: we are to see one or both chambers of Congress
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  Speaker 5: suddenly filled with a Democratic majority rather than the Republican
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  Speaker 5: majority he's been working with for the last two years.
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  Speaker 5: What is the White House bracing for?
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  Speaker 2: Right.
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  Speaker 7: Well, what's important to appreciate is, of course, how much
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  Speaker 7: this president has built his policy agenda on executive action. So,
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  Speaker 7: you know, from the very beginning, he has leaned into
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  Speaker 7: doing as much as he can administratively without needing Congress,
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  Speaker 7: despite these large, you know, these Republican majorities that he's
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  Speaker 7: been able to draw some support on. Obviously, the tax
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  Speaker 7: bill last year is a significant example of where he
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  Speaker 7: does need Congress's help. Now, looking out at the landscape
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  Speaker 7: over the next two years, obviously a lot of expectations
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  Speaker 7: that the House will change to Democratic hands. The president
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  Speaker 7: is already anticipating that to some degree, saying that he
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  Speaker 7: will be Mr. Veto, you know, essentially threatening to veto
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  Speaker 7: legislation that comes across his desk from Democrats in Congress. But,
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  Speaker 7: you know, he will not be able to count on
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  Speaker 7: Capitol Hill to deliver on his legislative agenda. And instead,
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  Speaker 7: You know, the administration, the president and top officials are
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  Speaker 7: bracing for a wave of oversight with investigations and calls
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  Speaker 7: to appear before congressional hearings.
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  Speaker 1: Mr.
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  Speaker 2: Vito, Jen DeLue, thank you so much. The president will
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  Speaker 2: be at the White House, by the way, this evening.
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  Speaker 2: There were questions, Kayleigh, about where he was going to
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  Speaker 2: hold forth. I guess there's a watch party in the
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  Speaker 2: East Room. I don't know what they're serving, but the
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  Speaker 2: news might not be great as the results come in
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  Speaker 2: in real time.
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  Speaker 1: Our watch party. We'll start right here at 7 p.m.
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  Speaker 1: Eastern Time.
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  Speaker 2: It'll be on Bloomberg TV and radio as well as YouTube,
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  Speaker 2: where you can find us right now by searching Bloomberg
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  Speaker 2: Business News Live. And we carry on with Brooke Sutherland,
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  Speaker 2: one of our many reporters in the field who will
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  Speaker 2: be pivotal in our coverage this evening. She's standing by
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  Speaker 2: in Portland, Maine, reporting for Bloomberg on one of the
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  Speaker 2: most important Senate races in the country. Brooke, just looking
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  Speaker 2: at some of the polling data we saw in the
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  Speaker 2: last 24 hours, the big one, of course, was New
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  Speaker 2: York Times-Siena gave Troy Jackson a six-point lead. It's a
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  Speaker 2: nine-point lead from the University of New Hampshire. What's the
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  Speaker 2: vibe on the ground? What are the candidates doing on
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  Speaker 2: this election day?
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  Speaker 3: The vibes are positive from the Jackson side. He had
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  Speaker 3: an event here in Portland last night at a bowling alley.
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  Speaker 3: He was enthusiastic. He was telling his supporters there that
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  Speaker 3: it is our time and that Democrats have a real
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  Speaker 3: shot at getting the Senate majority that they want in
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  Speaker 3: this election. But I will say that pretty much everybody
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  Speaker 3: is expecting this race to be very, very close. You
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  Speaker 3: talked about the latest polling data. But Susan Collins, over
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  Speaker 3: the course of her nearly 30-year career, has repeatedly defied
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  Speaker 3: both polls and expectations here in Maine. And I don't
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  Speaker 3: think anybody is feeling overly confident right now.
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  Speaker 5: Well, and we know the polls close in Maine at
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  Speaker 5: 8 p.m. Eastern time, Brooke. How quickly are election officials
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  Speaker 5: saying we can anticipate a result?
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  Speaker 3: I think we might be in for a late night
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  Speaker 3: here in Maine. I think we're looking at a pretty
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  Speaker 3: long process before we hear. And don't forget, if this
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  Speaker 3: race ends up being very, very close, there is a
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  Speaker 3: ranked choice voting system in Maine. Now, we don't have
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  Speaker 3: a prominent third party candidate, but there are some candidates
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  Speaker 3: who did declare themselves by the deadline. And if we
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  Speaker 3: get into a situation where this is super, super tight,
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  Speaker 3: you could go to ranked choice voting, which would mean
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  Speaker 3: this takes even longer to get a result here in Maine.
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  Speaker 3: So I think we're going to be waiting for a while,
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  Speaker 3: and everybody's going to be waiting with bated breath for
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  Speaker 3: those results.
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  Speaker 5: All right, Brooke Sutherland, live in Portland, Maine, for us. Brooke,
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  Speaker 5: we'll be checking in with you throughout the evening. And Maine, obviously, Joe,
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  Speaker 5: is host of a close contest, though in the latest
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  Speaker 5: New York Times Siena poll, it did show Troy Jackson
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  Speaker 5: with a six-point advantage, as you were alluding to. The
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  Speaker 5: race in Iowa, much, much closer in that poll. And
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  Speaker 5: if you look at prediction markets as well, they basically
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  Speaker 5: are pricing in even odds of a victory for either
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  Speaker 5: the Democrat Josh Turek or the Republican nominee, Congresswoman Ashley Hinson.
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  Speaker 5: And it's to Iowa where we go next, where we
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  Speaker 5: find Bloomberg's Skylar Woodhouse, who is live for us in
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  Speaker 5: Des Moines. Skylar, it's obviously not just the Senate race.
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  Speaker 5: There's a high-profile gubernatorial one as well, a number of
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  Speaker 5: close House contests. When are we likely to know who
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  Speaker 5: won any of them?
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  Speaker 8: Yeah, Kaylee, I mean, I think it's likely that we
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  Speaker 8: could see some answers tonight. Obviously, keep in mind, so
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  Speaker 8: far from what we're hearing on the ground in Iowa,
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  Speaker 8: we're not really hearing anything on disruptions at the polling sites.
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  Speaker 8: So assuming that things continue to be smooth sailing, I
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  Speaker 8: would imagine we could expect disruptions. some results shortly after polls,
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  Speaker 8: not shortly after, but polls closed in Iowa at 8
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  Speaker 8: o'clock Central Time. So I would imagine we could potentially
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  Speaker 8: see some answers a couple of hours after. Obviously, we
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  Speaker 8: have been hearing about super high early voting turnout just
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  Speaker 8: around the country.
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  Speaker 5: So as long as those.
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  Speaker 8: Ballots are being counted and things continue to proceed smoothly tonight,
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  Speaker 8: I think we could get some answers tonight here in Iowa.
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  Speaker 2: Weather's all good in Des Moines and around the state. Skyler,
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  Speaker 2: I ask because I see a little precipitation in the forecast,
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  Speaker 2: though it looks like it's a lot warmer than it
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  Speaker 2: normally would be.
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  Speaker 1: This all plays into turnout, right?
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  Speaker 5: Oh, absolutely, Joe.
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  Speaker 8: It's actually pretty humid here. I have this jacket on
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  Speaker 8: and I'm a little warm in it. It's been raining
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  Speaker 8: since we got here to Iowa. So that's definitely going
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  Speaker 8: to be interesting to see how does the weather impact
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  Speaker 8: voter turnout. The rain appears to be holding off right now,
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  Speaker 8: but it's definitely been raining on and off. So obviously,
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  Speaker 8: you know, that can make or break elections and especially
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  Speaker 8: if voters decide to stay home and just avoid the weather.
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  Speaker 8: So that's something we're keeping a close eye on here and.
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  Speaker 1: She's not on the North Lawn today. She's in Iowa. Skylar,
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  Speaker 1: thank you so much.
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  Speaker 2: It's great to have you out there, and we'll be
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  Speaker 2: checking in with you throughout the day and part of
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  Speaker 2: our special coverage. Stay with us on Balance of Power.
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  Speaker 2: We'll have much more coming up after this.
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  Speaker 4: You're listening to the Bloomberg Balance of Power podcast. Catch
• 9:26
  Speaker 4: us live weekdays at noon and 5 p.m. Eastern on
• 9:30
  Speaker 4: Apple CarPlay and Android Auto with the Bloomberg Business app.
• 9:33
  Speaker 4: Listen on demand wherever you get your podcasts or watch
• 9:36
  Speaker 4: us live on YouTube.
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  Speaker 2: The election day trade and ahead of our conversation, we've
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  Speaker 2: got an important one ahead with Jim Messina. He's going
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  Speaker 2: to be with us in studio here at World's Headquarters
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  Speaker 2: in New York. We've lined up a number of voices
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  Speaker 2: for you this hour to give you a sense of
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  Speaker 2: what we're looking at now and what you should be
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  Speaker 2: watching for later. Julie Fine, our Texas bureau chief, is
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  Speaker 2: with us on Bloomberg TV.
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  Speaker 1: And radio.
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  Speaker 2: Romain Bostic holding forth live and part of our coverage
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  Speaker 2: in the great state of Michigan. He's in Detroit and
• 10:05
  Speaker 2: Tyler Kendall is with us here at world headquarters in
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  Speaker 2: New York. Tyler, I'm going to start with you for
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  Speaker 2: the broad view. You're going to be on the wall
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  Speaker 2: this evening covering. the governors and Senate races, of course,
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  Speaker 2: but you're also our White House correspondent. What's the president
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  Speaker 2: doing today?
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  Speaker 9: Well, Joe, tonight we know that President Trump is going
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  Speaker 9: to hold a viewing party 7 p.m. Eastern in the
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  Speaker 9: East Room. Of course, the White House is watching today's
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  Speaker 9: election so closely because will have a lot to do
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  Speaker 9: with how much he can get done from a legislative
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  Speaker 9: point of view for the remaining two years of the term.
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  Speaker 9: And we've actually seen Republicans really try to bank on
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  Speaker 9: the president going to some reliably red states in a
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  Speaker 9: bid to gear up the turnout in some of these
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  Speaker 9: places where he won by double digits. But the polling
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  Speaker 9: is showing us Republicans are on the defense, keeping in
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  Speaker 9: mind that tonight is going to be all about the
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  Speaker 9: margins and the hunt to get the majority. Democrats only
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  Speaker 9: need a net gain of three seats in the House
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  Speaker 9: to flip it, a net gain of four seats in
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  Speaker 9: the Senate to flip it. And as of now, we're
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  Speaker 9: really seeing those economic headwinds put Republicans on the back
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  Speaker 9: foot in many of these places. You mentioned gas prices today.
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  Speaker 9: AAA saying the national average for a gallon of gas.
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  Speaker 10: $ 4.
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  Speaker 9: 15. With that said, though, we should say, Joe and Kayleigh,
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  Speaker 9: Republican strategists tell us that some of their private data
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  Speaker 9: is showing there, of course, is still a path for
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  Speaker 9: them to maintain the chamber. And Republicans have a pretty
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  Speaker 9: heavy cash advantage.
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  Speaker 3: All right.
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  Speaker 5: Bloomberg's Tyler Kendall. Thank you so much. And we'll be
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  Speaker 5: seeing Tyler throughout the night here on Bloomberg TV and radio. Now,
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  Speaker 5: one of those races where Republicans are being challenged or
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  Speaker 5: one of the states rather is Texas. Of course, historically
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  Speaker 5: bright red at last elected a Democrat to the Senate
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  Speaker 5: back in 1988. And yes, it is. It is the
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  Speaker 5: host of a tight content contest between Ken Paxton. and
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  Speaker 5: James Tallarico this evening, a tight gubernatorial race as well.
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  Speaker 5: So for more, we turn to Julie Fine, Bloomberg's Texas
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  Speaker 5: bureau chief, who we find live in Dallas. Julie, just
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  Speaker 5: how tight might this be? And will Republicans in Texas
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  Speaker 5: ultimately come home? Is that the feeling?
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  Speaker 11: That is the hope of Republicans. Right now, you are
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  Speaker 11: seeing polls that show this race three, four points apart,
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  Speaker 11: some as much as six for James Tallarico. However, you
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  Speaker 11: must remember here, the majority of the voters or the
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  Speaker 11: higher number of voters are Republicans. So Republicans are holding
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  Speaker 11: out hopes that today is a big day for them.
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  Speaker 11: I do want to talk a little bit, though, about
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  Speaker 11: the early vote. So far in the early vote, 7.7
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  Speaker 11: people have cast their ballots. That's compared to in 2022,
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  Speaker 11: that number was 5.5. So really, Kayleigh, when you talk
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  Speaker 11: about Republicans coming home, the question is that new 2
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  Speaker 11: million voters are the people that have already voted. Are
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  Speaker 11: they Republicans? Are they Democrats? Are they independents that Democrats
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  Speaker 11: have managed to sway? Again, this is a very tall
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  Speaker 11: order for any Democrat. Democrats have not won here statewide
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  Speaker 11: in more than three decades. Democrats are cautiously optimistic. but
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  Speaker 11: Republicans are also saying they feel at the end of
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  Speaker 11: the day this will go their way. If you look
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  Speaker 11: at history in 2018, that was Beto O'Rourke versus Ted Cruz.
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  Speaker 11: A lot of these same concerns came up. Ted Cruz,
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  Speaker 11: as you know, now your senator, and he won by
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  Speaker 11: 2.6 points. They are saying this race could be closer tonight,
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  Speaker 11: so we'll have to wait and see what actually happens.
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  Speaker 2: Most expensive race in the nation, Julie Fine, live in Dallas.
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  Speaker 2: She'll be part of our coverage this evening. And Julie,
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  Speaker 2: we thank you. Our Texas Bureau Chief, is on the case. Now, that,
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  Speaker 2: of course, would be a major opportunity for Democrats to
• 13:26
  Speaker 2: flip a seat. But Democrats are playing defense in the
• 13:30
  Speaker 2: swing state of Michigan, where, of course, the Democratic nominee,
• 13:33
  Speaker 2: Abdul El-Sayed, following the drama that involved Haley Stevens, is
• 13:38
  Speaker 2: in a pitched battle with Republican Mike Rogers and Bloomberg's
• 13:41
  Speaker 2: Romaine Bostic is on the ground in Detroit.
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  Speaker 1: How's the voting day starting out there, Romaine?
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  Speaker 12: Yeah, drama might be a bit of an understatement here,
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  Speaker 12: but we did have a chance to survey a couple
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  Speaker 12: of polling locations out here. And at least in a
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  Speaker 12: couple of the major districts, they are expecting record turnout
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  Speaker 12: for a midterm election and potentially a record turnout for
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  Speaker 12: any election midterm or presidential year alike. Of course, the
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  Speaker 12: race that everybody is paying attention to. is that close
• 14:08
  Speaker 12: race right now between Republican Mike Rogers, who remember just
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  Speaker 12: narrowly lost a couple of years ago to Alyssa Slotkin
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  Speaker 12: in that Senate race. He's now in a fight against
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  Speaker 12: Abdul El-Sayed, who, based on various polling, is either up
• 14:20
  Speaker 12: basically in the high single digits in the polls or
• 14:23
  Speaker 12: low double digits, depending on who you believe. It's that
• 14:26
  Speaker 12: gap that Mike Rogers has been on the trail trying
• 14:29
  Speaker 12: to narrow. Last night, he capped off his statewide bus
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  Speaker 12: tour that he's been holding during this campaign season up
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  Speaker 12: in Rochester Hills. He was joined on stage by the
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  Speaker 12: Republican gubernatorial candidate. And yeah, believe it or not, Joe,
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  Speaker 12: there are other races going on out here. He was
• 14:44
  Speaker 12: also joined by several other Republicans. who are really trying
• 14:47
  Speaker 12: to make the case here as to why Rogers was
• 14:50
  Speaker 12: not only there to appeal to Republicans, but the idea
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  Speaker 12: that he could appeal to centrist Democrats. Haley Stevens was
• 14:55
  Speaker 12: not at this event, but her name was echoed repeatedly.
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  Speaker 12: He went so far to basically call what she did
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  Speaker 12: putting country over party and called her support, the Democrat
• 15:06
  Speaker 12: supporting the Republican, in his words, courageous.
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  Speaker 5: All right, Romain Bostic, live in Detroit. Romain, we'll see
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  Speaker 5: you later on. Keep up the great work for us
• 15:14
  Speaker 5: on Bloomberg TV and radio. And I'm pleased to say
• 15:17
  Speaker 5: joining us now in our studios here at World Headquarters
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  Speaker 5: in New York is Jim Messina, of course, the campaign
• 15:24
  Speaker 5: manager of Obama's 2012 re-election campaign. He's now CEO of
• 15:27
  Speaker 5: Fortius Global with us now live on Balance of Power.
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  Speaker 5: It's great to see you in person, Jim. Very happy
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  Speaker 5: Election Day to you.
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  Speaker 1: Yeah, very exciting. World Headquarters.
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  Speaker 9: Yes. Amazing.
• 15:37
  Speaker 1: Thanks for coming in.
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  Speaker 5: Pulling in the big guns for a big day. How
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  Speaker 5: are you feeling on this election day, obviously, as held today?
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  Speaker 5: But we've seen so many people vote early. It does
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  Speaker 5: seem early indications are that more Democrats have done so.
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  Speaker 5: What does it mean for the ultimate outcome?
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  Speaker 13: Quietly, cautiously excited. The early vote numbers that you talked
• 15:54
  Speaker 13: about are really the only thing I care about. These
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  Speaker 13: polls can bounce all over. We've been talking about polls
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  Speaker 13: for years. The early vote numbers show historic numbers with
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  Speaker 13: the two targeted demographics that I really follow very closely,
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  Speaker 13: African-American voters And young voters, usually in a midterm election,
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  Speaker 13: young voters don't vote in such high percentages. When you
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  Speaker 13: look at some of the early votes out of Georgia,
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  Speaker 13: out of Texas, you're seeing some really big numbers. And
• 16:21
  Speaker 13: so I think that, you know, bodes well. But we're Democrats.
• 16:25
  Speaker 13: We could screw up free wine on a Friday. So, like,
• 16:28
  Speaker 13: you know, we've blown things worse than this. So we're
• 16:31
  Speaker 13: not taking anything for granted.
• 16:33
  Speaker 1: All right. Well, you know, just more on the early vote.
• 16:35
  Speaker 2: North Carolina specifically saw some remarkable numbers this morning, more
• 16:38
  Speaker 2: than 2.8 million people. North Carolinians have already cast ballots.
• 16:42
  Speaker 2: Registered Democrats hold the edge with 38.3% of total ballots,
• 16:47
  Speaker 2: then unaffiliated at 35, Republicans at 26. Not every state
• 16:51
  Speaker 2: has this party breakdown. How do you read into North Carolina? Well,
• 16:56
  Speaker 2: it's really interesting.
• 16:57
  Speaker 13: North Carolina is the only state I targeted for Obama
• 16:59
  Speaker 13: in 12 that we lost. We've been trying to get
• 17:02
  Speaker 13: this Senate seat for 12 years.
• 17:03
  Speaker 1: The home of your convention?
• 17:06
  Speaker 13: It's a very, very swing state. And when you look
• 17:08
  Speaker 13: at these numbers, you're seeing two things. Big women turnout,
• 17:12
  Speaker 13: especially suburban women. And then Republicans voting two or three
• 17:15
  Speaker 13: points less than usual. You hear all this concern about
• 17:18
  Speaker 13: Republican enthusiasm. That's why the president was on the campaign
• 17:22
  Speaker 13: trail at the end trying to fix that. And so
• 17:24
  Speaker 13: that's what you're seeing in North Carolina.
• 17:26
  Speaker 1: So if you're a Republican like Greg Murphy, are you
• 17:29
  Speaker 1: in trouble tonight?
• 17:30
  Speaker 13: You're in deep trouble.
• 17:31
  Speaker 1: Yeah, that's why the House.
• 17:33
  Speaker 13: You know, we're talking about the Senate all the time
• 17:35
  Speaker 13: because both parties now believe the House is democratic. The
• 17:38
  Speaker 13: question is just how much.
• 17:40
  Speaker 5: Well, and obviously we care very much about the results
• 17:43
  Speaker 5: tonight and what they will mean for the next two years.
• 17:45
  Speaker 5: But how important will it be for Democrats, Jim, if
• 17:48
  Speaker 5: we do see some of these states that at least
• 17:50
  Speaker 5: in more recent history have been bright red? If Democrats
• 17:53
  Speaker 5: can win a state ride race in Texas or in
• 17:56
  Speaker 5: a state like Kansas, or if we're even talking about
• 17:58
  Speaker 5: South Carolina and Mississippi, how does it change the map
• 18:01
  Speaker 5: for the cycles to come in 2028 and beyond?
• 18:04
  Speaker 13: It's the best question. First of all, it changes the
• 18:06
  Speaker 13: presidential map, which is what I care the most about.
• 18:09
  Speaker 13: The most predictive factor on a presidential election is who
• 18:12
  Speaker 13: has the governorships in these things. There's a chance after
• 18:15
  Speaker 13: tonight the Democrats have governorships in every single battleground state.
• 18:19
  Speaker 9: Wow.
• 18:20
  Speaker 13: I mean, that is, we'll see on Georgia. Obviously, Nevada
• 18:23
  Speaker 13: is really close in a tied race as well. Those
• 18:25
  Speaker 13: are the two races I'm really looking at. So the
• 18:28
  Speaker 13: governorships are looking really, really good. And then, you know,
• 18:31
  Speaker 13: if Texas is really in play, if Tallarico wins, suddenly
• 18:35
  Speaker 13: that's a battleground presidential state. And that really changes the map.
• 18:40
  Speaker 2: You used to talk about a 50-state strategy when you
• 18:42
  Speaker 2: were working with Barack Obama. That became a laugh line
• 18:45
  Speaker 2: in the years that followed for many Democrats. If we
• 18:48
  Speaker 2: see states like Kansas, Texas, South Carolina flip, is it
• 18:53
  Speaker 2: back to a 50-state strategy for Democrats in 28?
• 18:56
  Speaker 13: It has to, because if we win the House and
• 18:58
  Speaker 13: if we win the Senate, we will have won it
• 18:59
  Speaker 13: because of rural, more red districts.
• 19:01
  Speaker 14: Wow.
• 19:02
  Speaker 13: And so that's the most important thing. I just met
• 19:05
  Speaker 13: with my 29th person who's thinking about running for president
• 19:08
  Speaker 13: of the United States.
• 19:09
  Speaker 9: 29th.
• 19:09
  Speaker 1: See, they all call him a cedar.
• 19:10
  Speaker 5: Just on the Democratic side.
• 19:11
  Speaker 13: Just on the Democratic side, right? Everyone's kicking tires. And
• 19:15
  Speaker 13: when you talk about the map, suddenly you're talking about Texas.
• 19:19
  Speaker 13: You're talking about Arizona, a state where Barack Obama didn't
• 19:21
  Speaker 13: compete either time. Georgia, we didn't compete there either time.
• 19:25
  Speaker 13: North Carolina is now moving blue. Like the map is
• 19:28
  Speaker 13: just much better if we win some of these. We
• 19:31
  Speaker 13: last won a statewide race in Texas in 1994, my
• 19:35
  Speaker 13: senior year in college.
• 19:37
  Speaker 1: I'm now a member of the AARP.
• 19:39
  Speaker 13: So it has been a little.
• 19:40
  Speaker 1: Bit of time.
• 19:41
  Speaker 5: Can I just ask how many of those almost 30
• 19:44
  Speaker 5: candidates or possible candidates you've talked to are currently on
• 19:47
  Speaker 5: the ballot in this cycle?
• 19:48
  Speaker 1: Not.
• 19:50
  Speaker 13: Very many because it's hard to run now and then
• 19:53
  Speaker 13: run again.
• 19:54
  Speaker 5: So that list could get longer.
• 19:55
  Speaker 13: That list can get longer because I haven't met with
• 19:57
  Speaker 13: a certain senator from Georgia who I think a lot
• 20:01
  Speaker 13: of people think is running.
• 20:02
  Speaker 5: So you don't buy that John Ossoff is intending to
• 20:04
  Speaker 5: serve out the six-year term he could be elected to tonight?
• 20:07
  Speaker 1: No, I do not, ma'am.
• 20:08
  Speaker 13: No, I think Barack Obama said something similar.
• 20:11
  Speaker 9: Yeah.
• 20:12
  Speaker 13: I think you look and, you know, everyone's going to
• 20:14
  Speaker 13: look and see what the lessons they learned from the election.
• 20:17
  Speaker 13: And I think, you know, if you look at the map,
• 20:18
  Speaker 13: if you look at the Democratic primary map, it sits
• 20:22
  Speaker 13: very well for a Southern politician, putting South Carolina early
• 20:26
  Speaker 13: in the map and Virginia. And so I think if
• 20:29
  Speaker 13: you're Ossoff, if you're Andy Beshear, if you're Raphael Warnock,
• 20:33
  Speaker 13: you're going to kick the tires.
• 20:35
  Speaker 1: I mean, you could say anything now as long as
• 20:37
  Speaker 1: the nation needs you. You just, you know, you can
• 20:38
  Speaker 1: change your mind later down the road, right? Joe, the
• 20:40
  Speaker 1: nation needs you.
• 20:41
  Speaker 2: You'd just be drafted by the party. How many lawyers
• 20:43
  Speaker 2: are calling you about the day after?
• 20:45
  Speaker 14: Tons.
• 20:46
  Speaker 13: I serve as co-chair of Democracy Defenders with former White
• 20:48
  Speaker 13: House counsel Norm Eisen. And this is our biggest concern.
• 20:52
  Speaker 13: You know, we've been taking some of these cases up
• 20:54
  Speaker 13: to court. There's lots of concern about what's going to
• 20:57
  Speaker 13: happen in Alaska. You know, there's normal ballot problems. You
• 21:01
  Speaker 13: guys have been covering them today. There's lots of concern
• 21:03
  Speaker 13: about this. We know that no matter what happens, the
• 21:06
  Speaker 13: president is unlikely to want to accept it. And so
• 21:09
  Speaker 13: we'll probably be talking about this for the next couple
• 21:12
  Speaker 13: of weeks.
• 21:13
  Speaker 5: And more lawyers means more money will have to be spent.
• 21:16
  Speaker 5: And we've already seen a lot of money spent. This
• 21:18
  Speaker 5: is the most expensive election cycle in U.S. history, some
• 21:22
  Speaker 5: $ 12 billion. spent on behalf of candidates. You have more
• 21:24
  Speaker 5: than half a billion dollars spent in Texas alone. Have
• 21:28
  Speaker 5: we learned something about the efficacy of the incremental dollars
• 21:33
  Speaker 5: in the modern era? Do they need to be spending
• 21:35
  Speaker 5: this much money.
• 21:36
  Speaker 13: All across the country? No, and voters are over it,
• 21:39
  Speaker 13: and they're sick of it. The Spanish election is happening
• 21:42
  Speaker 13: right now. They can, by law, spend 29 million euro.
• 21:46
  Speaker 13: It's six weeks. You can't campaign outside the window, and
• 21:48
  Speaker 13: they have higher turnout than we do.
• 21:50
  Speaker 6: Wow.
• 21:51
  Speaker 13: This system... Look, it makes guys like me rich, and
• 21:54
  Speaker 13: that's wonderful.
• 21:55
  Speaker 1: We're all capitalists.
• 21:56
  Speaker 13: But, like, this spending is ridiculous. We do not need
• 21:59
  Speaker 13: $ 12 billion to litigate a midterm election.
• 22:03
  Speaker 1: This is a very truthful conversation. You know we're on
• 22:05
  Speaker 1: the air here, right?
• 22:07
  Speaker 2: How come Barack Obama is still the biggest draw for
• 22:10
  Speaker 2: Democrats on the trail?
• 22:11
  Speaker 1: We were laughing a couple of weeks ago. Still Obama
• 22:13
  Speaker 1: and Trump a decade later. Is that good or bad
• 22:18
  Speaker 1: for the party?
• 22:19
  Speaker 13: It's good. It's someone who can unite the wings of
• 22:21
  Speaker 13: the Democratic Party. Both parties have split and have real
• 22:26
  Speaker 13: internal challenges. Barack Obama is the gold standard of every
• 22:30
  Speaker 13: wing of our party. And him holding it together until
• 22:33
  Speaker 13: there's a Democratic nominee I think is very.
• 22:36
  Speaker 9: Very helpful.
• 22:37
  Speaker 13: And it's exactly what we need. Everyone says all the time,
• 22:39
  Speaker 13: we need a new voice, we need a new voice.
• 22:41
  Speaker 13: We'll have one after the Democratic primary for president. And
• 22:44
  Speaker 13: then that's a natural transition time. Right now, we're in
• 22:47
  Speaker 13: the minority. And so you'd go back. The most popular
• 22:50
  Speaker 13: political figure in America is Barack Obama. And we'd be
• 22:53
  Speaker 13: crazy not to use him.
• 22:55
  Speaker 5: And yet we are seeing some new voices enter the
• 22:57
  Speaker 5: scene in the Democratic Party, like, for example, the Democratic
• 22:59
  Speaker 5: nominee in Michigan, more progressives, outright people who are members
• 23:03
  Speaker 5: of the Democratic Socialists of America who could end up
• 23:05
  Speaker 5: members of Congress at the end of tonight. What have
• 23:08
  Speaker 5: you learned about the direction your party is is heading
• 23:11
  Speaker 5: from what has happened in this midterm.
• 23:12
  Speaker 2: Cycle, Jim.
• 23:14
  Speaker 13: Thank you for asking this because there's this perception, especially
• 23:16
  Speaker 13: in this town of New York, that the party's just
• 23:18
  Speaker 13: going so far left. It was just a bunch of
• 23:22
  Speaker 13: Democratic donors last night and they were losing their minds
• 23:24
  Speaker 13: over this.
• 23:25
  Speaker 1: It's not really true.
• 23:25
  Speaker 13: Three-fourths of primaries, the moderate or conservative Democratic candidate has won.
• 23:30
  Speaker 13: There's a very famous mayor from this town and obviously Al-Sayed.
• 23:34
  Speaker 13: But there's a bunch of others like, you know, we
• 23:36
  Speaker 13: have Roy Cooper is going to win a Republican seat
• 23:40
  Speaker 13: in the Senate. You don't get much more moderate than
• 23:42
  Speaker 13: Roy Cooper does. But we're not talking about Roy Cooper.
• 23:45
  Speaker 13: We're talking about Al-Sayed. And I understand why. But on
• 23:49
  Speaker 13: the ground, it's still economic focus. Democrats who are winning
• 23:53
  Speaker 13: these elections. We're going to have this fight. I personally
• 23:56
  Speaker 13: think the DSA is a bad development for my party,
• 23:59
  Speaker 13: and I'm going to continue to say that over and
• 24:01
  Speaker 13: over and over because I don't think their policies are right,
• 24:03
  Speaker 13: and I think that's how you lose elections.
• 24:05
  Speaker 2: Can't wait to distill the results with you when we
• 24:07
  Speaker 2: have the opportunity. Great to pick the brain of Jim Messina.
• 24:10
  Speaker 1: How about that?
• 24:11
  Speaker 2: On Election Day, we've promised the best voices in the business,
• 24:14
  Speaker 2: and we'll continue delivering them. The CEO of Fortius. Jim,
• 24:17
  Speaker 2: thank you so much for being with us. Alongside Kaylee Lyons,
• 24:19
  Speaker 2: I'm Joe Matthew. We'll set up our panel straight ahead
• 24:21
  Speaker 2: on Bloomberg. And make sure to subscribe to the Balance
• 24:25
  Speaker 2: of Power podcast if you want to hear our full
• 24:27
  Speaker 2: conversation with Jim Messina. Go to Apple, Spotify, and wherever
• 24:30
  Speaker 2: you get your podcasts. Watch us live right now on
• 24:32
  Speaker 2: YouTube and listen anytime at Bloomberg.com. Stay with us on
• 24:36
  Speaker 2: Balance of Power. We'll have much more coming up after this.
• 24:42
  Speaker 4: You're listening to the Bloomberg Balance of Power podcast. Catch
• 24:45
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• 24:52
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• 24:55
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• 25:02
  Speaker 2: Sarah Chamberlain is the president and CEO of the Republican
• 25:05
  Speaker 2: Main Street Partnership, a trusted voice on this program, a
• 25:08
  Speaker 2: friend of Balance of Power, who has walked us through
• 25:11
  Speaker 2: the map over the course of weeks and months to
• 25:14
  Speaker 2: follow all of the trends that have brought us here
• 25:16
  Speaker 2: to this point. Sarah, first of all, happy Election Day.
• 25:19
  Speaker 2: For those of us who talk politics all day, well,
• 25:22
  Speaker 2: maybe it's not quite as exciting as usual for you,
• 25:24
  Speaker 2: although you could have some thrills later. I just wonder
• 25:27
  Speaker 2: your thoughts after looking at the polls, the prediction markets,
• 25:30
  Speaker 2: and hearing all of the conventional wisdom in Washington, whether
• 25:33
  Speaker 2: you're buying into the rhetoric.
• 25:34
  Speaker 1: Could both chambers flip tonight?
• 25:37
  Speaker 10: They absolutely could. And the first of all is, thank
• 25:40
  Speaker 10: God the day is here, because the stress has been awful.
• 25:44
  Speaker 10: And there's a lot of concern. Main Street has 101 members,
• 25:47
  Speaker 10: the House and Senate. A lot of them are around
• 25:50
  Speaker 10: the bubble. Unfortunately, I do feel we do lose the House.
• 25:53
  Speaker 10: I don't think it's going to be quite as bad
• 25:55
  Speaker 10: as people are anticipating. The Senate, I don't know. I
• 25:58
  Speaker 10: talked to some of my senators last night. They feel
• 26:01
  Speaker 10: that the polls are coming back around. like Roger Marshall
• 26:05
  Speaker 10: in Kansas. So we'll have to see. I think the
• 26:08
  Speaker 10: Senate's going to be extremely close. I do think, as
• 26:11
  Speaker 10: I've always thought, it's going to come down to Michigan.
• 26:13
  Speaker 10: And I can tell you the Republicans are feeling pretty
• 26:16
  Speaker 10: good in Michigan after the latest debacle with the Democrats.
• 26:20
  Speaker 5: Well, Sarah, of course, you know how it works once
• 26:23
  Speaker 5: these people are elected and actually show up to Congress,
• 26:26
  Speaker 5: populate the halls, as Joe was just talking about, how
• 26:29
  Speaker 5: hard it can be to govern and to get things
• 26:32
  Speaker 5: accomplished if your majority is small. That's the reality Republicans
• 26:36
  Speaker 5: have been grappling with for two years. And we know
• 26:38
  Speaker 5: Mike Johnson has had tough job. And I know how
• 26:41
  Speaker 5: frequently we hear from you about how moderates are frustrated.
• 26:44
  Speaker 5: So tell us about how much the size of the
• 26:47
  Speaker 5: pickup that Democrats may be able to get in the
• 26:49
  Speaker 5: House specifically tonight will matter and how hard the job
• 26:53
  Speaker 5: may be for Hakeem Jeffries in a potential, if not likely, majority.
• 26:59
  Speaker 10: So the speaker has had the hardest job in Washington.
• 27:02
  Speaker 10: I have said that for the past year. The Democrats
• 27:05
  Speaker 10: need to pick up about 20 to 25 seats to
• 27:08
  Speaker 10: give their speaker, Jeffries, a little bit of wiggle room.
• 27:12
  Speaker 10: As Rick Davis said in the prior segment, I mean,
• 27:15
  Speaker 10: he's got 18 DSA people coming. And they are the far,
• 27:20
  Speaker 10: far left. They make the far, far right look like
• 27:24
  Speaker 10: kind of normal. So that's going to be a problem
• 27:27
  Speaker 10: for him. And it's really going to block legislation getting accomplished.
• 27:31
  Speaker 10: If if he doesn't get a 25 seat majority, then
• 27:35
  Speaker 10: I think he's really going to have an issue. And
• 27:37
  Speaker 10: I do think that's going to then force him to
• 27:39
  Speaker 10: reach out to Republicans and maybe get some bipartisan legislation done,
• 27:45
  Speaker 10: which might be nice for a change.
• 27:46
  Speaker 1: OK, well, now we're getting somewhere. It may not be
• 27:49
  Speaker 1: a power sharing issue.
• 27:51
  Speaker 2: Agreement with an actual Democratic majority, Sarah, but the more
• 27:56
  Speaker 2: thin that majority is, the more Hakeem Jeffries will be
• 28:00
  Speaker 2: forced to work with Republicans. But if Democrats win both chambers,
• 28:04
  Speaker 2: that's working with Donald Trump. I mean, is that a
• 28:07
  Speaker 2: world you can envision?
• 28:10
  Speaker 10: Yes, they're going to have to work with President Trump.
• 28:13
  Speaker 10: But if he's got less than 18, the majority, he's
• 28:16
  Speaker 10: also going to have to work with the Republicans in
• 28:19
  Speaker 10: the House and potentially in the Senate. The Senate's going
• 28:22
  Speaker 10: to be extremely close, no matter what happens tonight. So
• 28:25
  Speaker 10: the Democrats are going to have to work with the
• 28:27
  Speaker 10: Republicans and, of course, the administration. So I think it's
• 28:31
  Speaker 10: going to be helpful for the Democrats to find some
• 28:34
  Speaker 10: friends pretty quickly when they take over in January, some
• 28:37
  Speaker 10: Republican friends.
• 28:38
  Speaker 14: Mm-hmm.
• 28:39
  Speaker 5: Well, and it brings us back to the question of moderates.
• 28:42
  Speaker 5: We actually spoke yesterday with the chair of the Democratic
• 28:46
  Speaker 5: Congressional Campaign Committee, Congressman Susan DelBene of Washington. Of course,
• 28:50
  Speaker 5: a lot of those red to blue districts and Jason Crow,
• 28:52
  Speaker 5: who we just spoke with, who, of course, is co-chairing
• 28:54
  Speaker 5: that red to blue district. effort are the candidates who
• 28:57
  Speaker 5: are more in the middle, not as much in the extremes,
• 28:59
  Speaker 5: because they are obviously operating in battlegrounds. But this is
• 29:04
  Speaker 5: how Del Bene characterized the notion of moderates within the
• 29:08
  Speaker 5: Republican Party. Sarah, just listen to what she told us.
• 29:11
  Speaker 14: There are no moderates left on the Republican Party. What
• 29:16
  Speaker 14: people want is a representative, not a rubber stamp. And
• 29:19
  Speaker 14: they want folks who are going to stand up. And
• 29:21
  Speaker 14: we haven't seen any Republicans stand up to the damage
• 29:24
  Speaker 14: that has been done.
• 29:26
  Speaker 5: I'm sure, Sari, that you would disagree with her characterization,
• 29:29
  Speaker 5: but I do wonder, in so many of these districts
• 29:31
  Speaker 5: that we're talking about, in which a lot of your
• 29:34
  Speaker 5: members are represented, what happens if those moderate Republicans who
• 29:40
  Speaker 5: comprise the Main Street caucus lose their seats? Who will
• 29:44
  Speaker 5: be left on the Republican side of the ledger in
• 29:47
  Speaker 5: a minority?
• 29:49
  Speaker 10: Well, Republican Main Street Partnership does have over, we have
• 29:53
  Speaker 10: 91 members in the House. So even if we lose some,
• 29:57
  Speaker 10: there's a whole lot of Republican conservatives, we call ourselves
• 30:01
  Speaker 10: the Main Street conservatives, to still deal with bipartisan legislation.
• 30:06
  Speaker 10: I mean, so it's not like the moderates are getting
• 30:09
  Speaker 10: wiped out. There haven't been true moderates in really many years.
• 30:13
  Speaker 10: And actually, I think the country kind of misses that.
• 30:16
  Speaker 10: But on the Republican side, it's a group of conservatives
• 30:19
  Speaker 10: who want to get things done and work across the table.
• 30:23
  Speaker 10: The last real moderate who's retiring is Don Bacon, probably.
• 30:28
  Speaker 10: And Brian Fitzpatrick, Pennsylvania one, I'm not sure I'd call
• 30:31
  Speaker 10: him a moderate, but he also reaches across the aisle frequently.
• 30:37
  Speaker 2: Talk to us about the lame duck, Sarah. If Democrats
• 30:40
  Speaker 2: take the House or both chambers for that matter, does
• 30:43
  Speaker 2: that inspire Republicans to get more done while they can
• 30:46
  Speaker 2: do it on their terms? A reconciliation bill, maybe even
• 30:50
  Speaker 2: managing the debt ceiling before it's done?
• 30:53
  Speaker 10: Absolutely. So everything we did not get done these last
• 30:56
  Speaker 10: two years will get done in these last two weeks,
• 30:59
  Speaker 10: which really probably isn't the best way to govern the country.
• 31:03
  Speaker 10: But I do think you will see that happening. And
• 31:05
  Speaker 10: I do think you'll see the legislation pass. Hopefully the
• 31:08
  Speaker 10: far right, which has been the problem in the House,
• 31:10
  Speaker 10: which is why some of this legislation did not get passed.
• 31:14
  Speaker 10: which is why the speaker was forced to send the
• 31:16
  Speaker 10: members home quite frequently before the bills could even get
• 31:20
  Speaker 10: to the floor. I think they're going to take a
• 31:22
  Speaker 10: pass and be willing to work with Republicans to try
• 31:25
  Speaker 10: to get as much through as possible these two weeks.
• 31:27
  Speaker 10: It's going to be an interesting two weeks, no matter
• 31:30
  Speaker 10: what happens tonight.
• 31:32
  Speaker 5: Is this a reconciliation effort, Sarah? Would it be a
• 31:35
  Speaker 5: completely redrawn budget resolution and reconciliation blueprint, or would it
• 31:39
  Speaker 5: be trying to edit what was sent over to the
• 31:40
  Speaker 5: Senate with the supplemental funding for the Pentagon earlier this year?
• 31:44
  Speaker 10: I think it's going to be an edit. But to
• 31:47
  Speaker 10: be honest, I'm not sure yet. It's going to depend
• 31:49
  Speaker 10: on what happens tonight. But right now they're talking about
• 31:53
  Speaker 10: an edit.
• 31:53
  Speaker 2: How about the funding issue, Sarah? December 11th is going
• 31:57
  Speaker 2: to sneak up on us pretty quickly here. Is this
• 32:00
  Speaker 2: another kick the can or will Republicans try to get
• 32:02
  Speaker 2: all of this and some massive reconciliation or omnibus?
• 32:08
  Speaker 10: So nobody wants to shut down the government. I have
• 32:10
  Speaker 10: said that for the last few times. Nobody wants to
• 32:12
  Speaker 10: do that. They will go, though, for two years. So
• 32:15
  Speaker 10: I think that they're going to get in there and
• 32:17
  Speaker 10: try to go for two years so President Trump doesn't
• 32:19
  Speaker 10: have to worry about a potential government shutdown again. It's
• 32:22
  Speaker 10: always the president who gets blamed for a shutdown. If
• 32:26
  Speaker 10: the Democrats take control of both houses, the House and
• 32:29
  Speaker 10: the Senate, you could see a shutdown. Nobody wants that.
• 32:32
  Speaker 10: So I think the Republicans are going to try to
• 32:34
  Speaker 10: take that problem off the table. And actually, it's the
• 32:37
  Speaker 10: right thing. It could be a two-year CR. Well, two-year
• 32:41
  Speaker 10: CR maybe. They're in talks about that as to really
• 32:46
  Speaker 10: what happens. I won't know more about that until probably
• 32:48
  Speaker 10: the end of the week. But they'd like to get
• 32:50
  Speaker 10: that off the table for everyone. And to be honest,
• 32:53
  Speaker 10: it would be right for the country to get it
• 32:55
  Speaker 10: off the table as well. Having to live under a
• 32:57
  Speaker 10: government shutdown every six, eight months is really not a
• 33:01
  Speaker 10: good way to govern the country.
• 33:02
  Speaker 1: I've heard this before. You wonder what it means for
• 33:04
  Speaker 1: Pentagon spending, Kayleigh.
• 33:05
  Speaker 5: Yeah, absolutely. Sarah, we just have a minute left. Just quickly,
• 33:07
  Speaker 5: you said you might know more about that by the
• 33:09
  Speaker 5: end of the week. Will we also know who the
• 33:11
  Speaker 5: minority leader for Republicans might be by the end of
• 33:13
  Speaker 5: the week if the majority is lost? Will it be
• 33:15
  Speaker 5: Mike Johnson?
• 33:18
  Speaker 10: That's something the members are discussing. That was actually discussed
• 33:21
  Speaker 10: this morning on the phone call. What we'll have to
• 33:24
  Speaker 10: wait and see. I don't think it will be determined
• 33:26
  Speaker 10: by Friday. I think it's going to wait till early
• 33:28
  Speaker 10: next week. Though I do think you'll know the candidates
• 33:30
  Speaker 10: by Friday. And I do not think the speaker will
• 33:32
  Speaker 10: end up being the only candidate.
• 33:34
  Speaker 9: Hmm.
• 33:35
  Speaker 5: All right, we'll leave it there. We always appreciate the
• 33:38
  Speaker 5: insights of Sarah Chamberlain, the CEO of the Republican Main
• 33:42
  Speaker 5: Street Partnership. Sarah, you've almost made it. Just a few
• 33:45
  Speaker 5: hours to go and this election will be over. At
• 33:47
  Speaker 5: least we can all hope. We aren't totally sure when
• 33:49
  Speaker 5: we will have the end, final results and know the
• 33:51
  Speaker 5: balance of power, but we'll have it covered for you
• 33:53
  Speaker 5: all day and all night long.
• 33:55
  Speaker 2: They're locking us into world headquarters, we're told, until this
• 33:58
  Speaker 2: is solved. So we're going to do this one way
• 33:59
  Speaker 2: or the other. Meet us on The Late Edition at
• 34:00
  Speaker 2: 5 p.m.
• 34:01
  Speaker 1: On Bloomberg.
• 34:03
  Speaker 2: And make sure to subscribe to the Balance of Power podcast.
• 34:06
  Speaker 2: Get to Apple, Spotify, wherever you do your podcast to
• 34:09
  Speaker 2: hear our full conversation with Sarah Chamberlain by subscribing and
• 34:12
  Speaker 2: listen anytime at Bloomberg.com. Thanks for listening to the Balance
• 34:16
  Speaker 2: of Power podcast. Make sure to subscribe if you haven't
• 34:19
  Speaker 2: already at Apple, Spotify, or wherever you get your podcasts.
• 34:23
  Speaker 2: And you can find us live every weekday from Washington, D.C.
• 34:26
  Speaker 1: At noontime Eastern at Bloomberg.com.