Balance of PowerWatch Joe and Kailey LIVE every day on YouTube: http://bit.ly/3vTiACF.
Bloomberg Washington Correspondents Joe Mathieu and Kailey Leinz deliver insight and analysis on the latest headlines from the White House and Capitol Hill, including conversations with influential lawmakers and key figures in politics and policy. On this edition, Joe and Kailey speak with:
- Bloomberg Chicago Bureau Chief Isis Almeida about the city's preparations for the convention.
- Democratic Congresswoman Abigail Spanberger of Virginia to preview the week for her party.
- Democratic Congressman Jonathan Jackson of Illinois to discuss the top issues for Black voters in the 2024 election.
- Democratic Senator Laphonza Butler of California as US Secretary of State Antony Blinken says significant progress has been made between Israel and Hamas over a cease-fire.
- Bloomberg Politics Contributors Rick Davis and Jeanne Sheehan Zaino about what to watch for this week in Chicago.
Bloomberg Audio Studios, podcasts, radio news. You're listening to the Bloomberg Balance of Power podcast. Catch Just Live weekdays at noon Eastern on Eppo car Play and then Roun Auto with the Bloomberg Business app. Listen on demand wherever you get your podcasts, or watch us live on YouTube.
I'm Joe Matthew Hayley.
You've made it to Chicago, a month after the Republicans wrapped their convention in Milwaukee. It's day one here in Chicago, and we've got some great guests and important voices teed up for the next two hours to get us ready, Kayley, for.
The first night.
Indeed, it's going to be a big one.
It also comes a month after President Joe Biden left this race, decided not to seek re election and hand the reins over to his Vice president, Kamala Harris, who already is officially the Democratic nominee after a virtual roll call earlier this month. The formalities and the pom pomp and circumstance happen here in Chicago this week, and of course she will wrap things up giving that acceptance speech on Thursday. It is President Biden we will hear from in the primetime tonight.
That's the big one, President Biden here in town.
The first Lady Joe Biden will also be speaking and the theme, Kaylie, We've got, of course a different theme for each night for the people, which is right up Joe Biden's alley when it comes to his own branding. Secretary of the former Secretary of State Hillary Clinton will also be at the podium tonight as well.
Yeah, many speeches to watch.
We're also of course watching here in Chicago for potential protests. We've already seen some yesterday, and the question is going to be to what extent could they actually disrupt the activities today. Obviously much preparation has been done from a security standpoint, and of course Democrats are really going to be trying to project a message of unity, even if there are some divisions evident over the ongoing war.
Yeah, we're talking tens of thousands potentially. We've heard at least of protesters. We saw some gatherings last night around Michigan Avenue and some other areas close to where we're all staying. But unclear of the scale to which these protests will take. We know there are thirty uncomitted delegates on the floor, pro Palace, Daine and delegates sees fire delegates as they've been called. But the logistics, the security surrounding this event couldn't be more complicated. And that's where we start our conversation with Bloomberg's isis Almeta, who is our Chicago bureau chief here at Bloomberg.
Isis great to see you, Thanks for having us in your hometown.
Thank you for having me.
This has been quite the operation to secure this convention. What are we in for the next several days.
Yes, I think the city's being preparing for like over a year. Chicago police is getting help from about five hundred police officers from other parts of the country too. I think there's one hundred and fifty National Guard on standby. Pritzkerk confirmed that yesterday just in case we needed. We've saw the we've seen the first protests. There's at least seven schedule that we know of, and I'm sure many more will come and pop up once in a while, and you know, we'll just be interesting to see how how they can disrupt the mood or how the city of Chicago keeps everyone under control well.
And it's been especially remarkable because the city of Chicago has hosted a convention before, including in nineteen sixty eight, and that's what everyone seems to be drawing and comparison to is we come in to this week. But obviously Chicago very much wanted to host this. This was a big effort on the part of Governor.
Prisker, who you just mentioned.
What does this mean for the city, especially if things potentially go awry or we start to actually see protest turning violent.
Yes, I think for the governor really this convention is what propels them to the national stage. Right if you think about like a lot of people don't know who he is, and I think after this week everyone will know who he is. So keeping things under control and making sure that we don't look like nineteen sixty eight where we had severe classes between the police and protesters and the police pretty much crossed the protesters, I think that will be very very important for the governor and his image. So I think they will try everything they can to ensure that things go peacefully.
Interesting that we've heard from police on that front that even non permitted protesters will not be rounded up, will not be arrested, as they try to avoid massive engagements with protesters. We're not going to see hundreds or thousands of people rounded up, Is that fair to say?
I think if things remain peaceful, I definitely think we won't see that. But I think Chief Snelling, who is their chief of police are in Chicago, he made it clear he will not lack protesters destroy the city.
And of course it's not just going to be protesters that are here in town. There are thousands of people who have descended for the convention. Obviously, this is a big event for a city hosting. What kind of economic impact do we expect that this is.
Going to have for Chicago.
I think this is a really interesting question because the economic impact that has been forecast is about one hundred and fifty to two hundred million. But when you start talking to restaurants and you see that maybe the number of like Chicago residents that have chosen to stay away from the city are actually impacting their reservation so they're not really seeing a boom and restaurant bookings as a result. It was funny when I drove in today there was no traffic and I was like, wow, this is the first day of you know, in weeks that there's no traffic on a highway.
Not too used to that around here, but that is what this is all about, right, There's a reason why a city vies for an opportunity like this, to get the eyes of the nation, get the eyes of the world on Chicago, and maybe change the narrative. Donald Trump spent time in Milwaukee compairing Chicago to Afghanistan, referring to some of the crime statistics. This is a chance for Chicago to turn that story around, right, Yeah.
I think Chicago, even before the convention already had issues with like persistently high crime. We've seen some high profile businesses leaving the city, and I think that has really created that, you know, national narrative and the way people perceive Chicago. So I think it's a chance for the city to try to turn that around, and it will be important for them to keep things under control. But I think long term, the city needs to continue to tackle crime if it is to attract businesses here well.
And tackling crime is obviously something that presidential candidates are talking about as well. Certainly Kamala Harris has been attacked by Donald Trump on the crime issue. In addition to the economy and the border. Can you just give us a sense of isis. Obviously we're sitting here in a deep blue state. This is not a swing state where this convention is being held as was the case in Milwaukee, Wisconsin. But what are the issues that resonate with mooiter But it's not just in Chicago but in Illinois.
Yeah, I think the biggest concerns that we see here, we see the propile is time concerns, and this is why you have the protests. You see a lot of like women's rights, reproductive rights, LGBT two plus rights, and that is something that a lot of people in the state are concerned about. I think the migration issue too. Immigration, and you've seen the number of like people, more than forty thousand people have arrived in Chicago from Texas and other parts of the country bust here, and I think there's a lot of tensions between the Chicago and black population and the immigrants that are coming and where the city spends its resources. And you know, there's a lot of money that's gone to sheltering the migrants while there's already a you know, a homeless black homeless population in the city. So those are the tensions that we've seen played out in City Hall.
All right, ISOs Amina, It's going to be a busy week for you playing host to all of us this week. She is our Chicago beer chief. Thank you so much for joining us. And of course Joe and I are now here in Chicago. Both President Biden and Kamala Harris are now here as well as Obiden is going to be leaving after his speech tonight, heading out to California.
He won't be staying through the week.
But we also saw the presidential candidates, including Vice President Harris, on the move this weekend as they competed in swing states. Harris and Walls on a bus tour Pennsylvania yesterday. Of course, Donald Trump holding some rallies of his own.
Yeah, not an accident where they're positioning themselves and we're going to see, actually Donald Trump and JD. Vance kind of counterprogramming what Democrats are doing throughout the week. Not exactly what we saw in Milwaukee, but this is what they're dealing with right now, with new polls showing once again that Kamala Harris has the momentum and you can't stay home if you're Donald Trump.
Yeah, definitely trying to stall that momentum to the extent that he can. But we should just take a listen to some of the language we were hearing from both of these candidates this weekend as they looked ahead to this week.
I very much consider us Sandrow Dog. We have a lot of work to do to earn the vote of the American people. That's why we're on this bus tour today, and we're going to be traveling this country as we've been and talking with folks, listening with folks, and hopefully earning their votes over the next seventy nine days.
Who would believe this.
Eighty days from now, we are going to defeat.
A communist known as Kamala Howris.
He's a comune, most radical left person ever to run for office.
This is not what this country needs.
We've had enough of them.
We're going to win back the White House and we're going to take back to our country.
Anybody who's about beating down other people is a coward. This is what strength looks like. So we know what we are about, we know what we stand for. And one of the beautiful things about these next seventy nine days is what the people in this room have already been doing and know, let's build community, let's reinforce community.
I'm a better looking person than Kamala.
No.
I couldn't believe it, she said. You know, I had never heard that one.
They said, No, her biggest advantage is that she's a beautiful woman.
I'm gone, huh. I never thought of that. I'm better looking than she is.
So that was a look back at this past weekend. Now we look forward to what's to come for the remainder of the week here at the Democratic National Convention. And as we do so, joining us here on set in Chicago is Congresswoman Abigail Spanberger of Virginia. Congresswoman, thank you so much for being with us. Happy convention week to you. Obviously, you and your party are coming into this week with I think can be fairly characterized as a great deal of enthusiasm over the new candidate.
Four weeks in to her campaign.
The question has been, how does that momentum be sustained after this week?
What does the party need to do in.
The coming days here in Chicago to keep this going until the election.
Well, I think importantly what we're doing back home in Virginia is making a pitch to voters about what's on the line with this election, what matters, why people need to get out and vote, and what I expect to occur is coming out of this convention, the continued conversation about the stakes of this election, the choice that we have, certainly at the presidential and vice presidential level, but even at the Senate level in Virginia we have Senator Tim Kine for reelection and at the congressional level where we have some incumbents running for reelection as well as some challengers, and so that momentum I think will continue. We've had a more than a five hundred percent increase in volunteer sign ups back home in the Commonwealth. So it's an exciting time, but it's because people know what's at stake.
Each member of the party, certainly lawmaker coming to town here is coming with a different set of issues, a different set of values.
You might suggest it.
In Virginia, it's interesting as you butt up against the capital city, you have a massive federal workforce working in your estate whose jobs could be on the line depending on the outcome of this election.
That's exactly right, and we have singing through Agenda twenty twenty five, through Agenda forty seven or Project twenty twenty five and Agenda forty seven. We know that there are major shifts that President Trump and a vice president Vance would make to the federal workforce.
Vance himself said that his advice.
Would be to fire every federal worker and replace them with quote our people. So the stakes of this election are dire for so many Virginians and certainly the federal workforce, the very function of government, but the Virginia economy, and so it's something that we're talking about across the Commonwealth. The reality that when you have a presidential and vice presidential candidate who wants to do away with those jobs, those livelihoods, that's a major risk certainly to those individuals, to their lives, to their jobs, but also to our economy.
Well, certainly we've all paid attention to what the Trump Vance ticket broadly have outlined in terms of what they'd like to see with their domestic agenda. There's also the foreign policy agenda. We know, for example, Senator Vance is highly skeptical of continuing to help fund Ukraine and its effort against Russia. Certainly, there is some contrast between these two tickets when it comes to the issue of Israel in Gaza, something we expect to be fully on display here in Chicago with protests. Given your seat on the Intelligence Committee or background at the CIA, how should we be thinking about the foreign policy implications of this election.
The foreign policy implications of this election are extraordinary. And I say that as a current member of Congress, as you mentioned, a member of the Intelligence Committee, but also as a former national security professional as a CIA officer. The things that that JD. Vance has said about our support to the Ukrainians, I think discounts the entire importance and value of American global leadership, of our commitment to our NATO allies.
Certainly, we saw.
Under President Trump's first presidential term his constant alienating of our allies, his efforts to pull us away from NATO, which is an extraordinarily important alliance. And the contrast is clear, and Trump vance administration would imperil our national security, would imperil our position of global leadership, and from a national security perspective, I think would be a dire, dire circumstance, particularly as we see on the ground in the Ukrainians fighting for their freedom, and we see commitment to the cause of democracy worldwide under threat.
Remember the race in two thousand and eight, Hillary Clinton famously had the three am call, ad is your commander in chief going to be ready when the phone rings at three am? She was referring to her experience at the time, and of course then became Secretary of State in another career. When we consider the stakes in this election, after everything that you just said, why is Kamala Harris ready for that phone call at three am? What experience brings her to that point?
Well, importantly, she spent time as a member of the United States Senate on the Senate Intelligence Committee, So recognizing the breath and the scope of information coming in from the intelligence community, from the extraordinary individuals working the world over to help policymakers make informed decisions. I'm proud I used to be one of those folks, and now I'm on the policymaking side. So in that role, she knows the full scope of what comes before policymakers. As Vice President, she has had a seat in the room at every major decision, whether it was sharing initial intelligence related to the hour knowledge that the Russians were going to invade Ukraine, or anything across the board. Since that war began, she has been part of the decisions being made. She has been in the room, and she knows the reality and the dire consequences of each situation and what the American response needs to be and has been.
And finally, Congresswoman, before we let you go, this election also will of course mark the last one you are in as a sitting member of Congress. You were not seeking reelection to that body, instead pursuing the governor of Virginia. Before you go, though, knowing we're going to be in full election cycle mode, maybe not a lot's going to happen between now, maybe the lame duck session. I know there's some things you want to get done, including the Stock Act restrictions on trading for members. Are you confident you can get that done before you leave the chamber?
Oh?
So it's a busy time on Capitol Hill, sure. And the.
The Trust in Congress Act, which is the one that would put restrictions on members of Congress from being able to buy or sell individual stocks, right, is so vitally important because when we think over the past number of years, the degradation of trust that people have had, the low approval rating of Congress our ability to say when we are here. Every decision we make is a decision we are making because it is one that is informed by information, by intelligence, by conversations we're having with experts in certain fields, and not by how we might benefit or our stock portfolio might benefit. In terms of how confident I am the bill is wholly bipartisan. We've got folks across the political spectrum supporting it because it just makes sense. It's wildly popular with the American people, and I ultimately will continue to push for Speaker Johnson to bring that bill for a vote. But I am tempering my my enthusiasm on our ability to get it through. But I will say that I have already lined up my successor to carry it on. If we do not get it this Congress, I promise you we will continue to have an aggressive effort to get.
It done, and it would stand a better chance in the Democratic House.
I would hope.
So I'm had been great to see you in Chicago. Thanks for starting your day with us here on Bloomberg. Abigail Spanberger Up, Virginia.
You're listening to the Bloomberg Balance of Power podcast. Can Just Live weekdays at noon Eastern on Apple car Play and thenroyd Outo with the Bloomberg Business App. You can also listen live on Amazon Alexa from our flagship New York station, Just say Alexa play Bloomberg eleven thirty.
Of course, four days, four nights.
Joe a pomp and circumstance enthusiasm in the Democratic Party and it begins tonight primetime speech from President Joe Biden, who, of course, just four weeks ago, decided this would not be his convention. Instead it's the convention of his vice president Kamala Harrer.
That's right, He's the headliner instead of on the fourth night. On the first night, the first Lady, Joe Biden will be speaking as well.
Kayleie.
There's been a lot of references to passing the baton, and that's actually what is going to happen. We saw Kamala Harris and Joe Biden on stage for the first time last week as we brought to our listeners and viewers live for the first time since Joe Biden dropped out. But this is the big moment tonight as he looks ahead to the future in a theme for the people on Night one of the DNC and joining us now is Congressman Jonathan Jackson of Illinois. We thought we'd bring someone actually from Chicago. It's great to see you, sir, Thanks for being here at the table.
Nice to see in your hometown.
Great to see her again.
Is this a good night or a bad night for Joe Biden.
It's a great night, Joe. President Biden has so much to be proud of. He's honored his word to the African American community. He was the first president to actually interview an African American woman to go to the Supreme Court. He's put an African American woman on the Supreme Court. He also had an African American as his vice president and he is now made her his successor that he has endorsed. President Joe Biden has fully funded the EPA. He's done something record in historic and putting money into human infrastructure. The city of Chicago on the South and West sides has the largest amount of lead service lines in the nation. There is no safe amount of lead that you can have in your water that's fully funded. So he's done so many remarkable things and I think that that's going to be a hallmark of his legacy and the foundation that he's laid for a future generation.
Well, Congressman, you talk about ways in which he has elevated Black Americans to some of the most senior levels of the US government across all of its branches. Yet what we saw was in his candidacy, at least this time around, he was struggling to galvanize that base of voters that had supported him in twenty twenty. We're starting to see that change, at least polling indicates. With Vice President Harris, what do you expect that her candidacy is going to be able to do when it comes to black voters or just voters of color in general in this election.
How have things changed over the last four weeks.
Well, I think that earlier, I believe that was a bit of fake news and people saying African American men were looking at Donald Trump. Donald Trump is entertaining. He's like P. T. Barnum, So you'll listen to him, you'll cackle with him, but you don't take anything serious about him. African American males know this is the same man that asks for the death the execution of the Central Park five young teenagers, and after they were found guilty, he still is not apologized to them like something is very depraved about this man. This man is also accusing convictive of sexual assault that we know better than that. Mister Biden has done is offered a clear alternative. He has for decency. He has restored that. And now what you're see in missus Harris, she knows the culture, she's been a part of it. She's a product. She's going to historically black college. She has made clear on her investments that she wants to make in the community, and she has galvanized it. We see continuity, we see legacy, we see tradition, and for that we want to honor her and keep up the great work of the Biden Harris administration.
Yeah, Congressman Donald Trump continues to question Kamala Harris's racial identity, suggesting that she's somehow not actually part of the black community.
What do you say to that, Well, that's very much ignorant. That he should first look at American Law eighteen ninety six and Plessy versus Ferguson. There was a test on that and it came out to say that if you have one drop of blood, you're the negro. By definition, it's the negro rule. So he's very ignorant of a lot of things, and that's one thing that he should be ashamed of. She has her father is of African descent, he's Jamaican, her mother is of Indian descent. Like, I don't know what this guy gets off of it, and nobody ever pushes back on him for the man outrageous thing that he says. Let's talk about something else he said. He says he's beautiful. When he was out at Tomorrow Largo.
Round, he's still looking at He.
Says that he's better looking than Vice President Harris. Who would ever believe that? Okay, we should at least give the man a dog so that a dog can have an objective test. Like, nobody's ever called this man attractive. And from his behavior with women, he's been very aggressive. So no, there's something fundamentally wrong. What man compares himself beauty wise to a female. I think he's very misogynistic. You're going to see racism come out as he gets ready for this debate on September tenth. He's going to have blooming over his head. A September eighteenth trial date, if you will, a sentencing date. He's under enormous pressure at eighty years of age for things that he's done, and I think all this is going to make him have even more erratic behavior.
Well, certainly we have seen a great number of personal attacks from Trump against Kamala Harris, but we also have seen some more targeted attacks when it comes to specific issues like the border or the economy. He has been along with Jady Vance, suggesting that if she was really going to do something to be able to fight inflation on day one, her day one was three and a half years ago.
We've heard this repeatedly. Now, what is the answer to that?
Why has she not been able to have more influence over that as vice president?
Well, I don't have the answer for that at this moment, but it's a very complex issue. One thing you have to do is stop what he was gearing up for on this massive deportation. That's inhumane, that's not who we are. And then his outrageous idea of building this border wall that also hurts the ecosystem. Animals and other things have to go around their winds, and birds have to go over there. What is ailing South America should be the question that he should be focused on. President Trump is a chronic complainer, whiner, as opposed to fixing the blame. He had to be more mature and fix the problem. The problem is not at the Mexican border. The problem is in South and Central America. When we end up putting additional sanctions south on Cuba saying that they're a terrorist state where there is no credible evidence for that, that drove five hundred thousand people off of the island that then have to migrate. When they put additional sanctions on Venezuela, that took out another three to five million people that they had to migrate. So people are coming up the Pan American Corridor to the city of Chicago. It's two four hundred and ninety nine miles from Caracas Venezuela to Chicago, Leonorith. You don't have to fly to Caracas Venezuela, you don't have to take a boat to Karakas, Venezuela. People are walking up that corridor because we put sanctions. We need to normalize some of the relationships, not be so punitive. It is growing. Two thirds of our hemisphere as non English speaking in South America, they're poor and they're trying to have economic stability. The new Era of America should be looking at something fundamentally that transforms a Marshall plant, where we're helping these countries invest in their water systems, helping them invest in their roads way. That's something America has proprietary technology, technology, and we can make and expand our markets, same thing we did after World War Two. When we're into Europe, we can have that same formula, same formula and do that in South and Central America and in Africa. I want to put Africa on there just for a moment because in the year twenty fifty, just twenty five years from now, which is something we should be talking about. In twenty five years from now, one in four persons on planet Earth will be Africans. How are we aligning our interest and our future towards what's going to be twenty five percent of the world's population.
Congress been the border is a huge issue. So is the economy. We talked a lot about inflation. We've talked a lot about the plans that we've at least been able to understand. I know that we need some details from both campaigns. Well, one of your most passionate issues has been expanding the child tax credit. On Capitol Hill, that is something that Kamala Harris wants to expand to six thousand dollars to the number we hear. But jd Vance is also calling for an expanded child tax credit. Do you worry that Democrats in Chicago vote for the Trump Dvance ticket because of what they're talking about here what are essentially democratic issues?
No, because what Missus Harris is doing is authentic. What jd Vance is doing is following. He's not leading the issue. The second part. What jd Vance is doing he doesn't think that every woman should have an equal right to vote. He thinks that women that have more children should have a higher level of writing to vote versus women that have fewer votes. We've already been through that with African Americans being called three fifths of a human being who should have which level of proportionality to vote? His ideas are antiquated, their stale, They simply don't work. Missus Harris is an authentic description of a child text credit that which was passed by Congresman Dol Sarrio ended up moving a half of me, fifty percent of our children out of poverty. It never should have been cut under the Trump administration.
I'd like to ask you as well, Congressman, because we are here in your hometown. There has been a lot of talk about nineteen sixty eight also in Chicago. I think we all know how that went at a convention, and there are planned protests here for basically the duration of this week over the war Israel is still conducting against Hamas in Gaza. How concerned are you that we may see images like we saw sixty years ago?
Almost I don't think we'll see that. I think we have a mayor that came out of the organizing community and activists and I have been on many marches and demonstrations together. I'm glad that he's opened the city Hall Mayor's office to talk to them. There are routes that are established in very high visible levels, so I am glad that he has opened the door. He's talked to them, he's not shunned them, he's not turned his back on them. And I also encouraged demonstrations. I think it's a healthy part of our democracy. Young people are out there, they have a point of view, they're trying to build a future for their future together, and to the degree they raised their voice peacefully, that's a good thing. Unlike what you saw with mister Donald J. Trump going into the Capitol, not wanting to have a clear transfer of power and killing officers Sycknick, and not having the decency to call Officer Sicknick's name, not having the decency to call the officers on Capitol Hill and apologize for those that have lost their lives and others that have committed suicide and others that have been beaten down. He's shown no respect and all the way up until the time of the Golden the Congressional Gold Medal, saying it doesn't have any merit, the Presidential Medal of Freedom, they're comparable medals. Something's wrong with the man. As he gets more, we're desperate. As he sees the polling number goes away, he's concerned if somebody has called him, well, well you are weird. You never laugh, You wake up mad all day long. Probably sleep with a finch cliffs cliff, you know, a clinch fist. Something is fundamentally wrong with this man.
You're bringing a lot today, Congressman. The protesters outside are one thing. What do you tell the thirty or so delegates, I know it's not a very high number who are calling themselves ceasefire delegates who want to try to disrupt the proceedings on the floor of this convention.
I wouldn't know if they would be disruptors, but if they are dissenters and want to maintain that position, I can respect it. It's going to be over two thousand delegates, if thirties people that have applied and gotten on, and this is their their petition. I think our ten is big enough to hold together. Even you have never Trumpers. Some of them came around, and some of them have not come around. We've got some of them in here, and some of those never Trumpers are here, so it will never be a part of that has everyone singing at the same page at the same time. But out of that I respect their creativity and their differences, even if I don't necessarily agree with it.
Surely there is a right to freedom of speech in this country. There's also right, of course, to freedom of the press, something Joe and I enjoy very much.
We get to interview people like you.
We have not yet though, and many people haven't had the pleasure of interviewing the vice president since she became the Democratic nominee. This is something that the Trump Vance campaign is criticizing her heavily for is it time for her to do that? Should she be answering questions from the press, Should she be doing a sit down interview, or is just doing these rallies and reading the teleprompter and giving the speech in Chicago this weekend.
Well, I think she's done so much more than that. A she had a body of work that's very well recognized, and that was with the Biden Harris administration. This was unprecedented and that the president decides to step out. First thing she had to do is go through all the mechanics and the legal work to transfer documents to be the nominee. Then she'll add to gather all the votes to secure the nomin nation. Same time she had to vet out presidential a vice president. They had to map out of strategy, get ready to culminate at the convention. Then I believe it's the time for her to articulate all of her positions. But right now she's very much in sync withy Biden Harris administration. There will be some changes, but fundamentally she has a great platform. It'll have some more of her personality, but she has a great platform to run on.
That timeline you mentioned will culminate with a debate on September tenth. Will that debate decide the outcome of the selection?
No, I don't think so. I expect this to get much more dirty, nastier. All that coming from Trump. He's talking about attacks. He's not talking about the agenda that he wants to go forward. He's pinning this very morose and dark cloud. We're going to have the nineteen twenty nine. You're going back into the Great Depression. If I don't win. Every time the market goes up, it's because of me. Anytime we went down because of him, He's just blamed. And I think people are tired of his pettiness. They're tired of his whining. People want to go forward with a vision. I think America is much better than that. And I am so excited when I see women standing up, when I see mister Walls coming from being a teacher and a coach. These are people that we recognize. Not all the power and people have to go to the most pristige, pristige or prestigious and elite schools. There are great American schools all over the country. This reaffirms that wherever you go you get a good education, you can rise up to the highest levels of our office and lead the American people.
All right, Congressman, great to see you here in Chicago. Thank you so much for having us. Thank you in town.
Congressman Jonathan Jackson, Jackson of Illinois, we appreciate your time, sir.
Joining us here on Bloomberg.
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Joining us from just outside the United Center, it's California Senator Lafonsa Butler. Senator. We want to welcome you to Bloomberg TV and Radio. It's great to be with you today in Chicago. I think it's safe to say that you know Kamala Harris better than most Americans ever will. And as we consider what she's going through right now, being shot out of a cannon here at a Democratic National Convention that she could not have planned for even two months ago, tell us what she's going through emotionally.
Look, I don't thank you so much for having me for covering this for offering this experience to folks who are watching and listening on Bloomberg. You know, I couldn't pretend to know what Vice President Harris is is feeling.
None of us could you know?
She was so committed to being a loyal governing partner to President Biden, and today begins the convention that is the process of nominating her as the Democratic presidential nominee for this country, And so it is an exciting experience I could imagine.
I have spoken to her.
She feels and sounds incredibly determined to be a leader that offers a vision forward for our country and for the American people, a way to unify us behind not just our fears and the things that we are are concerned about, but also about our hopes and our dreams and the things that we can accomplish together. And so it must be incredibly exciting for her for her family. But I know this is a moment that she is determined to meet and one that she I think will we'll meet with great grace.
Well, Senator, of course, none of us can actually get inside the Democratic nominees had at this time, but could you take us inside yours knowing that before you were a senator, you ran Emily's List. It is a group literally dedicated to get women elected into office. Have not just a woman, but a woman of color getting ready to formally accept the Democratic nomination for president.
What does this week mean to you?
You know, I'm not sure that I know exactly what it will mean. I am so focused on making sure that I do everything I can to make this moment not just a moment that happens as a nominating experience, but an experience that actually leads to victory for the country in November. But you're right, I have worked to help to elect Democratic, pro choice women up and down the ballot at all levels of government. And to again be able to say that the United States, at least one party is putting forth a woman and a woman of color for the American people to consider for a presidency is quite powerful, not just for my daughter, but truly for America's daughters to be able to see themselves once and for all in the highest position possible in our country. It is a moment of pride for me, and I think it will be a moment of great pride for the American people.
Senator, what is Joe Biden going to tell the room tonight as he passes the baton, the cliche that we keep using for this inflection point in the campaign. There's been reporting that he's very upset about what has happened, But of course it's his job to strike a positive tone.
What should be his message? What are we going to hear from Joe Biden?
Look, I expect that we're going to hear the words of a proud statesman who has served his country for the last fifty two years, made sacrifice after sacrifice to help us win back the soul of our very nation. He said that was why he was running in twenty twenty. This is a president who will have accomplished by the end of his term some of the most historic legislation ever, changing the trajectory of so many industry opportunities for the American people, whether we're talking about the cancelation of student loan debt, to the inaction of the Chips and Science Act, the biggest investments in climate change in our nation's history, doing the work of the Pact Act, and taking care of our veterans and their health care. So, look, this is a moment I think where President Biden will have the opportunity to not only talk about what he's accomplished, but to thank the American people for trusting him to lead in such a hard, tough moment. And I think he's going to commit to continue to finish the job that we have a lot more work to do. He has another five months left in his term. He's going to be focused on continuing to run through the tape, but he's going to be exciting us and imploring us to continue to fight for the democracy that future generations in this country truly deserve.
Well and of course that fight will become Kamala Harris throughout the remainder of this campaign, and then, of course, if she ultimately wins when she takes office in January of twenty twenty five. We are starting, Senator to get at least the outlines of the kind of policy that she would like to pursue when it comes to the economy. And I ask you this knowing that you sit on the Senate Banking Committee. Some of the policies she put forward last week have been described as potentially inflationary. Donald Trump has suggested they borderline on communism, calling her now Comrade Kamala, are the ideas that she put forward really realistic?
Look, I think the former president has tried his attempt at name calling against everyone who dare to take him on. And this is a presidential candidate vice president in Kamala Harris that is doing just that, taking him on and putting forward visions and plans that actually bring our country together that address some of our highest cost driving issues that working families face today. The cost of housing whether they want to own or rent, the cost of prescription drugs, whether they're taking cancer medication, or an elderly who's just trying to manage their diabetes or just trying to make it every single day in the grocery store buying bread and eggs and chicken to make sure that their family has food to eat. Yes, she has put forth an ambitious, I believe, practical approach that is about how do we listen to what the American people need from government and actually make plans to act. Are the plans going to turn out exactly the way that she put forth in her proposal in North Carolina? This is all going to be a process, she said herself. What she wants to do is bring stakeholders together. She wants to bring industry and legislators and unions together to figure out how we try to solve some of these problems. I don't know what President former President's Trump is to do any of that. He hasn't said. He just says that he wants to create a what is in essence is a tax for the American people to raise their costs. So I'd rather be a part of a process to find a solid solution for the American people than some pipe dream tax that's going to raise the cost for every American person. And I think every day about my mother, on a fixed income, seventy one years old, how she I know she can't afford Donald Trump's tax.
Senator Butler, we have breaking news on the terminal with regard to Israel, and this is going to be important for the delegates on the floor of this convention. Anthony Blincoln, the Secretary of State, says Benjamin net Yahoo has accepted a ceasefire proposal that they've been working on for days now. This just crossed the terminal. Net Yahoo accepting latest Gaza proposal. He's speaking with reporters right now talking about this US backed bridging proposal for a ceasefire, calling on Hamas to do the same your party platform. Senator also calls for it quote immediate and lasting cease fire deal unquote if this comes to fruition, if we do have a ceasefire deal, are those thirty uncommitted delegates on the floor going to become committed to Kamala Harris?
You know, I don't know. I surely hope, so I wouldn't venture to speak for them, But let me just first say thank God the tragedy that we have been seeing that began on October seventh and has continued in the lives of Palestinian, innocent Palestinian families. I am glad that Joe Biden has remained on the case and has not let a night go by where he wasn't working towards accomplishing this ceasefire. If that is the case, this is a great and important day for the presidency of President Biden and a great moment of I think relief for so many families Israeli and Palestinian families alike.
Well, and certainly it could be a moment of relief if you are actively campaigning for president knowing that this is an issue. Senator that has divided your party, and we've seen that on display with the delegates that Joe is alluding to you with the protests that will be here in Chicago. If a ceasefire can be accomplished, what's the biggest hurdle for your party to get over and when it comes to voter turnout or to ensuring a victory for Kamala Harris.
Yeah, Look, this is a war and a conflict that is beyond ply party politics. Both sides have taken their own positions. What we have seen President Biden and Vice President Harris work towards is that lasting ceasepire, the return of those hostages, and hopefully as the deal the details of this deal becomes more clear that we would have accomplished those things, And like, let's focus on these are lives that have been lost here, ends of thousands of lives, the rape and torture of Israeli families on October seventh. I'm not going to jump into a conversation about politics when we're talking about people's lives. Yes, there has been disagreement in our country about this, but let's celebrate what is happening here. There are hundreds of Americans and Israelis and others that are actually going to be able to come home after nearly a year. Let's celebrate what we're accomplishing and recognize the diplomacy and the committed leadership that President Biden and Vice President Harris have brought, and all of the global leaders who have leaned in here to help make this happen.
Fair Enough, Senator, thank you so much for joining us outside the United Center here in Chicago. That is California's Democratic Senator Lafonza Butler. We appreciate your time.
You're listening to the Bloomberg Balance of Power podcast Ken just Live weekdays at newon Eastern on apocarplay and then Broudoto with the Bloomberg Business app. You can also listen live on Amazon and Alexa from our flagship New York station, Just Say Alexa play Bloomberg eleven thirty.
The headline crossing this hour from the Bloomberg terminal, Secretary of State Anthony Blincoln saying that Israel has accepted a ceasefire agreement and now we wait for Hamas.
In a very constructive meeting with Prime mistery Innit Yahoo today, he confirmed to me that Israel accepts the bridging proposal that he supports it. It's now incumbent on Hamas to do the same. And then the parties, with the help of the mediators the United States, Egypt and Cutter, have to come together and complete the process of reaching clear understandings about how they'll implement the commitments that they've made.
So let's bring back now our political panel here in Chicago, Rick Davis, partner at Stone Court Capital, and Jeanie shanzay No, political science professor at Io University and Senior Democracy Fellow at the Center for the Study of the Presidency and Congress. So incredible to get this news is we're sitting here in Chicago waiting for President Biden to speak this evening, knowing that he has said a ceasefire agreement is one of the things he wants to make sure he accomplishes before leaving office. Obviously, there are massive humanitarian implications here for the people living in Gaza, for the families of the hostages, for the hostages themselves, Genie, that cannot go unsaid. But politically this is significant as well.
This is and I think, you know, we can be cautiously optimistic about what Anthony Blincoln has said, but of course I think we have to be cautious because at the same time Hamas has said it's dissatisfied with what it describes as some of Israel's demands in this, and so I think we do, to your point, have to wait and see if this comes to fruition. The timing is critically important for all of the reasons you mentioned, which are the most important, but also politically because if it came together today, afford President Biden speaks, that would be enormously important for his legacy, which he is attached to this in a profound way. And of course issues involving the Middle East have had an enormously negative impact on presidents going back several decades in the US, so for him to be thinking about leaving office in January and to have a win like this, if it happens, would be enormously important.
Well, caution is the important word I think in your setup there, Genie, because we've seen this before. Joe Biden made an address to the nation from a White House about this plan back around Memorial Day, and it was not signed off on at the time, apparently by the net and Yahoo government and Hamas went back and forth for weeks on this ended with nothing. We just asked Sean Caston, who made clear that his constituents represent one of the largest blocks of pro Palestinian voters in the country. He was very careful when we asked him about this. He didn't want to see this move in too quickly this week a long term deal. He said, How careful should Democrats be right now with such a hot issue around this convention?
Yeah, I think you have to be very careful.
I'm pessimistic that if your peace is rely upon relying upon Hamas, you're going to have to wait. Hamas wants a permanent ceasefire, they don't want a situational one, and for that reason alone, they will probably reject this offer. They've rejected previous offers that were similar in nature to this one. As you say, they've been talking about this for a long time. I don't think there's any reason to believe that Hamas is going to see this as anything.
This is smart politically to do this in public, then to go them to well.
Look, I mean, I think it's good to have government transparency, right, I mean, like this is an important issue, as Genie says, to a lot of people, it's not just politics, and I think it's good that this is being aired out. We don't normally get to see sausage being made in these kinds of negotiations. But I think it's too soon to tell whether or not Hamas is prepared to come to the table and actually be a part of a community that wants to see peace. It's not been their history, and they've been very clear that they want a permanent cease fire, they just don't want to pay for it.
Well, it's also worth noting Hamas operates as a proxy of Iran. We are still waiting Irani in retaliation against Israel for the assassination of leaders of Hesbola and of course Hamas in Tehran earlier this summer, so that maybe is a complicating factor in all of this as well. But it was described to us as by our political editor Laura Davison earlier this hour. Genie is really something that actually can create some separation between President Biden, who is president and therefore is the one that really has to deal with is and Kamala Harris, who can speak about it, who can try to frame it to her benefit, but doesn't necessarily have that commander in chief title at this time where this is incumbent upon her to deal with So to what extent, regardless of whether or not Hamas accepts or the negotiations are still ongoing, should Harris be talking about this issue or others like economy and the border at the convention this week?
You know, I think the convention, we're not going to hear a lot of policy specifics. I think we're going to hear an introduction of Kamala Harris because a lot of people are not intimately familiar with her, even though she's been in our lives as vice president for almost four years now. So that's going to be what she does this week. We will hear more about policy going forward, But to your point, I don't think we're going to hear a lot on the specifics of something like this, And so you know, she is going to try to get some of that separation from President Biden on things that he is not particularly popular on and try to embrace those things he is. So if there was a win on this, if that would be enormously helpful, but most importantly for the families of the hostages and you know, all the people affected by this. Regardless of the politics of this thing.
Well, you know, if you're running a convention, though, and you've got thirty uncommitted delegates on the floor, is this an opportunity. There may not be a deal here, but this week in Chicago, there might be a sit down conversation between the Harris campaign and those delegates to say, look, we're trying to move the ball right.
I think anything you can do to sort of knock your late the convention to delegates who aren't looking at the same success you are is important.
You're going to do that.
Any wouldn't just they've been doing it. You wouldn't just ignore it.
Maybe their bus breaks down on the way to the convention on Thursday night. But another thing, But the reality is you don't usually get hard to use at a convention. And it would be really a kudo for Biden to be able to talk about this tonight. Now with Israel signing on, maybe that's enough for him, But to get a cease fire the night of your last speech to the convention as president, it would be a really special moment for him. And suffice it to say, I doubt if Hamas is really caring whether or not sure Joe Biden has a good.
Night or not well fair enough, but it will be a night for Joe Biden, the only one, frankly, he's going to get at this convention. Genie, We've talked at length about how difficult this moment may may be emotionally, given his long career in public service, but he has made the decision to pass that the autonom will do so in a very real way. This evening, we're also going to be hearing from members of his family. Joe Biden is speaking tonight, Ashley Biden is introducing him. According to the speaker's list, what tone do you expect to hear, not just from the President, but from those closest to him.
I think we're going to hear the closeness of their relationship with their husband and their father. You know, this is a family who has gone through so much trauma, especially in the last few years, and so I think we're going to hear a lot of love and respect from them. And I think they're going to be celebrating his work. I mean, nineteen seventy two, he enters Congress at twenty nine, and he departs today the convention, and or tonight the convention, and in a few months the presidency, so it's a big, big moment for him. But I think most important, they're all going to agree we want Kamala Harris to succeed and beat Donald Trump.
So prepare for a lot of young photos of Joe Biden with Dark Harris.
What you saying?
That's right, great conversation with our signature panel. As always, Rick Davis Genie Shanzano are going to be with us for the week here in Chicage, with a lot more to follow as the DNC gets underway.
Thanks for listening to the Balance of Power podcast.
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