00:00> > FROM THE REPUBLICAN NATIONAL CONVENTION IN MILWAUKEE, WISCONSIN, TO OUR TV AND RADIO AUDIENCE IS WORLDWIDE, WELCOME TO A SPECIAL EXTENDED EDITION OF BALANCE OF POWER. ALONGSIDE JOE MATHIEU, I AM KAILEY LEINZ. AS WE COME TO AIR THIS AFTERNOON IN MILWAUKEE, IT IS WITH A BIT MORE INFORMATION ON WHAT THE REPUBLICAN TICKET FOR 2024 WILL LOOK LIKE. IT IS DONALD TRUMP AND THE SENATOR FROM OHIO, J.D. VANCE. JOE: TRUMP/VANCE WILL BE THE BUMPER STICKER. THE SENATOR FROM OHIO WAS ON EVERY SHORTLIST WE TALKED ABOUT THE WE LEARNED EARLIER TODAY THAT MARCO RUBIO AND DOUG BURGUM GOT PHONE CALL TELLING THEM THEY WERE NOT IN LINE SO IT SEEMED APPARENT. IT IS A BIT OF AN ANTI-CLIMACTIC FEEL RIGHT NOW IN MILWAUKEE BECAUSE WE SPENT SO MUCH TIME TALKING ABOUT THIS IN SO MANY PEOPLE ASSOCIATE THE ELEMENT OF SURPRISE WITH DONALD TRUMP. KAILEY: IN MANY WAYS, THIS IS NOT SURPRISING AS J.D. VANCE IS A POPULIST. IN SOME WAYS, HE COULD BE SEEN AS A YOUNGER VERSION OF DONALD TRUMP, KNOWING THE SENATOR IS ONLY 39 YEARS OLD. HE TURNS 40 NEXT MONTH. AS WE ALL REACT TO THE NEWS HERE IN MILWAUKEE, LET'S CHECK OUT WHAT IS ACTUALLY HAPPENING ON THE FLOOR IN THE PFIZER FORM HERE AND GO TO BLOOMBERG'S TYLER KENDALL. WHAT IS THE ATMOSPHERE LIKE NOW THAT WE KNOW? TYLER: HEY, I AM ON THE FLOOR OF THE REPUBLICAN NATIONAL CONVENTION WHERE JUST MOMENTS AGO, AS YOU MENTIONED, FORMER PRESIDENT TRUMP AND NOW SENATOR J.D. VANCE OFFICIALLY BECAME THE NOMINEES FOR THE REPUBLICAN TICKET. IT IS LOUD IN HERE. IT IS HIGH-ENERGY IN HERE. MOST IMPORTANTLY, EVERYBODY IN HERE IS TALKING ABOUT J.D. VANCE AS THE VICE PRESIDENTIAL PICK. OUR BLOOMBERG AUDIENCE MIGHT KNOW HIM FOR US AS A FORMER VENTURE CAPITALIST AND THAT A MEMBER OF THE SENATE BANKING COMMITTEE AND IF WE LOOK AT THE LEGISLATION HE PUSHED THROUGH THAT COMMITTEE, IT KIND OF GIVES US A TASTE OF WHAT KIND OF POLITICIAN HE HAS BEEN PURE AND HE HAS REALLY BEEN CAMPAIGNING ON A MORE POPULIST MESSAGE. VOTERS, WORKERS RIGHTS, COMPARED TO TAKING ON BIG CORPORATIONS AND BIG BANKS. HE LED SOME KEY LEGISLATION ON THE SENATE BANKING COMMITTEE THAT WOULD MAKE IT HARDER FOR BANK LENDERS TO CUT DOWN ON CREDIT CARD FEES AND IN ONE INTERESTING MOVE. UP WITH SENATOR ELIZABETH WARREN ON A BILL THAT WOULD CLAWBACK EXECUTIVE COMPENSATION IF THINGS FAILED SO THIS IDEA OF PRO-WORKER VERSUS PRO BUSINESS IS GOING TO BE SOMETHING INTERESTING THAT WE WATCH ON THE CAMPAIGN TRAIL. EVERYBODY IS TALKING ABOUT WHAT THIS WILL MEAN GOING FORWARD FOR THE TICKET AND LATER FOR THIS WEEK, WE NOW KNOW THAT J.D. VANCE WILL BE THE HEADLINER ON WEDNESDAY NIGHT FOLLOWED BY FORMER PRESIDENT TRUMP. OFFICIALLY ACCEPTING THE NOMINATION ON THURSDAY -- FORMER TRUMP OFFICIALLY ACCEPTING THE NOMINATION ON THURSDAY. JOE: TYLER, THANK YOU FOR BRINGING US INSIDE AS WE JOIN YOU WITH SPECIAL COVERAGE ON BLOOMBERG TV AND RADIO. WE LEARNED ABOUT THIS, BY THE WAY, ON A TRUTH -- ON TRUE SOCIAL. THE MESSAGE, AFTER CONSIDERING THE TREMENDOUS TALENTS OF MANY OTHERS, I HAVE DECIDED THAT THE PERSON BEST SUITED TO ASSUME THE POSITION OF VICE PRESIDENT OF THE UNITED STATES IS SENATOR J.D. VANCE OF THE GREAT STATE OF OHIO. OF, DONALD TRUMP, JR. HAD PUSHED HARD FOR THIS CHOICE AND HE WAS, AS WE MENTIONED, ON EVERY SHORTLIST. HE WENT THROUGH A REMARKABLE EVOLUTION FROM A BLUE-COLLAR CREDIT OF DONALD TRUMP'S, HE REFERRED TO HIM AS CULTURAL HEROINE, TO CLEARLY A MAGA LOYALIST. JOINING US HERE IN MILWAUKEE TO TALK ABOUT THIS AND SOME OF THE OTHER ISSUES AND THEMES SURROUNDING THE RNC IS THE GOVERNOR OF GEORGIA, BRIAN KEMP. GOVERNOR, GREAT TO SEE YOU. WHAT DO YOU THINK ABOUT THIS EVOLUTION THAT A GUY LIKE J.D. VANCE WENT ON HERE? ARE YOU GOING TO FIND YOURSELF TELLING A SIMILAR STORY WHEN DONALD TRUMP BECOMES THE OFFICIAL NOMINEE ON THURSDAY NIGHT? GOV. KEMP: CERTAINLY A LOT OF EXCITEMENT. I KNOW LOOKING AT THE SCREEN AND SEEING EVERYBODY ON THE FLOOR, I'M SURE THE OHIO DELEGATION IS VERY EXCITED BUT I THINK IT IS A GOOD PICK FOR PRESIDENT TRUMP. SENATOR VANCE BRINGS THE ELEMENT OF YOUTH TO THIS RACE THAT WE HAVE NOT SEEN. THAT'S FOR SURE. THE GUY IS A UNITED STATES SENATOR, OBVIOUSLY QUALIFIED TO SERVE. GREAT MESSENGER, WHICH IS I THINK VERY IMPORTANT ANYTHING ABOUT WHAT IS GOING TO BE GOING ON IN THE NEXT FOUR OR FIVE MONTHS IN THIS CAMPAIGN. KAILEY: AS WE CONSIDER THIS SELECTION, KNOWING THAT YOU REPRESENT ONE OF THE KEY SWING STATES WE ARE WATCHING IN THE CYCLE, KNOWING GEORGE IS NOT BRIGHT RED OR BRIGHT BLUE, WHAT DOES J.D. VANCE BRING TO UNDECIDED VOTERS IN GEORGIA? HOW IS HE LIKELY TO INFLUENCE THAT OPINION WHEN HE MAY JUST BE SEEING AS A YOUNGER VERSION OF DONALD TRUMP HIMSELF? GOV. KEMP: IT'S NOT JUST WHAT J.D. VANCE BRINGS TO THE RACE BUT ALSO WHAT PRESIDENT TRUMP AND OTHER REPUBLICANS CAN DO BETWEEN NOW AND NOVEMBER TO MAKE SURE THAT YOU ARE GETTING THOSE PERSUADABLE VOTERS. FOR ME AND WHAT I AM HEARING EVERY DAY IS THAT AMERICANS AND GEORGIANS CAN'T AFFORD ANOTHER FOUR YEARS OF JOE BIDEN. I THINK THAT IS A MESSAGE THAT J.D. VANCE CAN DELIVER. IT IS CERTAINLY A MESSAGE THAT PRESIDENT TRUMP AND A LOT OF OTHER REPUBLICANS, WHETHER IT BE PEOPLE WE ARE TRYING TO HELP WIN AT THE STATEHOUSE AND STATE SENATE LEVEL TO HOLD OUR MAJORITIES IN THE GENERAL ASSEMBLY IN GEORGIA ARE GOING TO BE TALKING ABOUT PEOPLE. I MEAN, OBVIOUSLY, HE HAS BEEN VERY OUTSPOKEN AS WELL ON THE DISASTER AT THE SOUTHERN BORDER UNDER THIS ADMINISTRATION'S POLICIES SO I THINK THERE'S A NUMBER OF ISSUES THAT WILL RESONATE WITH SWING STATE VOTERS. JOE: YOU REFERRED TO DONALD TRUMP IN 2016 AFTER THE BOOK CAME OUT AS NOXIOUS, LEADING THE WHITE WORKING-CLASS INTO A VERY DARK PLACE. WAS THERE SOME TRUTH TO THAT WHEN YOU LOOK BACK? GOV. KEMP: I HAVE NOT READ THE BOOK. A LOT OF PEOPLE WRITE A LOT OF DIFFERENT THINGS. JOE: WE DID A LOT OF INTERVIEWS AS WELL. GOV. KEMP: I GET THAT. I WAS BUSY DOING MY JOB AND WASN'T TOO WORRIED ABOUT HIS BOOK. BUT LISTEN, I THINK, YOU KNOW, THIS IS ALL ABOUT THE FUTURE. THERE'S BEEN A LOT OF TOUGH POLITICS. A LOT OF RHETORIC. I MEAN, I HAVE BEEN INVOLVED IN SOME OF THAT AS WELL WITH THE FORMER PRESIDENT. A LOT OF OTHER PEOPLE HAVE, TOO. A LOT OF OTHER PEOPLE CONSIDER TO BE VICE PRESIDENT SAID OF THE THINGS THAT MAY NOT HAVE BEEN THAT FLATTERING. JOE: IT IS ALL WATER UNDER THE BRIDGE? GOV. KEMP: THAT HAPPENS IN POLITICS. YOU LOOK AT THE FLIPSIDE, KAMALA HARRIS SAID A LOT OF BAD THINGS ABOUT JOE BIDEN AND ENDED UP BEING HIS VICE PRESIDENTIAL PIXAR I THINK IT'S GOING TO BE INCUMBENT ON PEOPLE TO STAY FOCUSED ON THE FUTURE. KAILEY: IF WE STAY FOCUSED ON THE FUTURE AND THINK ABOUT THE KIND OF POLICY THAT THESE TWO AS A JOINT TICKET ARE LIKELY TO PUSH FOR, WE KNOW THAT THEY LEAN TOWARDS POPULISM, PROTECTIONISM. J.D. VANCE HAS BEEN OUTSPOKEN WHEN IT COMES TO THE STEEL INDUSTRY AND THAT IT SHOULD DATE IN AMERICAN HANDS -- STAY IN AMERICAN HANDS. BUT THESE IDEAS OF HIGHER TARIFFS, AS YOU SIT HERE AND TELL US THAT WHAT GEORGIANS REALLY CARE ABOUT IS THE MONEY IN THEIR POCKET. IS RAISING THE COST OF GOODS FOR AMERICANS BY PUTTING A BLANKET TARIFF ON EVERYTHING, 60% PLUS ON GOODS COMING OUT OF CHINA, IS NOT A WAY YOU CAN IMPROVE THAT FEELING FOR PEOPLE? GOV. KEMP: I WAS LETTING THEM SPEAK TO THE POLICY POSITIONS BUT IF YOU LOOK AT WHAT JOE BIDEN HAS BEEN DOING, HE HAS BEEN PICKING WINNERS AND LOSERS SO TO ME, I THINK WHAT FORMER PRESIDENT TRUMP AND WHAT PEOPLE LIKE J.D. VANCE -- LOOK, I DON'T AGREE WITH EVERYTHING HE HAS BEEN TALKING ABOUT. I HAVE DIFFERENT VIEWS MYSELF. A LOT OF PEOPLE ARE GOING TO DISAGREE ON ISSUES ON THE ECONOMY AND ON JOBS AND OTHER THINGS THAT ARE GOING ON, BUT THE THING IS IN MY OPINION IS TO LET THE MARKET WORK, DON'T PICK WINNERS AND LOSERS. THAT IS WHAT JOE BIDEN HAS BEEN DOING. THE POPULIST IN DONALD TRUMP AND PEOPLE LIKE JD VANCE IS TRYING TO FIGHT FOR THE AMERICAN WORKER AND THE LITTLE GUY OUT THERE THAT'S, YOU KNOW, THEY ARE NOT GETTING THEIR EDUCATION TUITION PAID FOR. THEIR KIDS MIGHT NOT EVEN HAVE THE OPPORTUNITY TO GO FOR COLLEGE. JUST TRYING TO FIGHT FOR THAT EVERYDAY AMERICAN THAT IS OUT THERE I THINK IS REALLY WHAT THEY ARE FOCUSED ON, AND LOOK, THERE'S A LOT OF OTHER POLICYMAKERS AND WASHINGTON, D.C. THAT MAY NOT GO ALONG WITH THAT EITHER SO WE HAVE TO KEEP ALL OF THESE THINGS RELATIVE. WHO DO YOU THINK IS BEST GOING TO FIGHT FOR YOU IN THE WHITE HOUSE? TO ME, IT'S, YOU KNOW, THE REPUBLICAN TICKET. THE REPUBLICAN POLICYMAKERS HAVE BEEN PUSHING BACK AND DID NOT CREATE THIS FORTY-YEAR HIGH INFLATION WHERE PEOPLE'S MORTGAGE RATES HAVE GONE UP, RENT HAS GONE UP, INSURANCE HAS GONE UP, COMPLAINING WHEN THEY GO TO THE GAS STATION, COMPLAINING WHEN THEY GO TO THE GROCERY STORE. THEY ARE SEEING A DISASTER AT THE SOUTHERN BORDER AND A WEAKENING IN OUR STATUS AROUND THE WORLD. JOE: TO PICK UP ON THAT POINT, THERE IS A BIG DEBATE GOING ON RIGHT NOW ABOUT MAKING PERMANENT THE TRUMP TAX CUTS FROM 2017 ON THE SURFACE, THIS SOUNDS LIKE SOMETHING THAT MIGHT BRING RELIEF TO CONSUMERS THAT WE HAVE ECONOMISTS TELLING US EVERY DAY THAT THAT WILL STOKE INFLATION EVEN FURTHER. WOULD YOU TELL DONALD TRUMP TO TAP THE BRAKES ON THAT IDEA? GOV. KEMP: I WOULD NOT TRY TO BE ADVISING THEM ON WHAT TO DO WITH FEDERAL TAX POLICY BUT I CAN TELL YOU FROM THE STATE PERSPECTIVE, WE HAVE TO BALANCE OUR BUDGET IN THE STATE OF GEORGIA. JOE: WE DON'T KNOW WHAT THAT MEANS IN WASHINGTON. GOV. KEMP: I KNOW YOU DON'T. YOU SPEND TOO MUCH MONEY, TOO. THERE'S WAYS YOU CAN OFFSET TAX CUTS TO NOT HAVE AN INFLATIONARY ENVIRONMENT. THAT IS CERTAINLY WHAT WE TRIED TO WORK ON IN GEORGIA BY LOWERING THE RATE NOT ONLY ON THE PERSONAL INCOME TAX BUT ALSO ON THE CORPORATE SIDE OF THINGS SO WE HAVE A GOOD BUSINESS ENVIRONMENT WHERE PEOPLE CAN GET A GOOD PAYING JOB THAT CAN OUTPACE INFLATION, HAVE GOOD GOVERNMENT BENEFITS. THAT IS WHAT REPUBLICANS ARE FIGHTING FOR. JOE BIDEN AND HIS PEOPLE HAVE BEEN FIGHTING FOR PICKING WINNERS AND LOSERS. BACK IN THE UNION-BASED AUTOMAKERS VERSUS PEOPLE LIKE WE HAVE IN GEORGIA THAT ARE NONUNION. TO ME, IF THE POLICY IS SO GOOD, MAKE IT THE SAME FOR EVERYBODY AND IF IT ISN'T, THEN DON'T HAVE THE POLICY. BUT LOOK, I AGREE. WE HAVE GOT TO LOOK AT GOVERNMENT SPENDING ESPECIALLY IN WASHINGTON, D.C. THAT IS THE REASON OUR DEBTS AND DEFICITS ARE UP, DRIVING PART OF THE INTEREST RATE EQUATION AS THE FED CONTINUES TO LOOK AT WHERE THE UNEMPLOYMENT OF BIZARRE AND THE SLOWING OF THE ECONOMY, YOU KNOW, AND HOW THEY DEAL WITH THAT. IT'S GOING TO BE INCUMBENT FOR POLICYMAKERS IN BC TO MAKE GOOD DECISIONS. KAILEY: WE SAW ALL OF OUR CONVERSATIONS WOULD BE DOMINATED BY POLICY BUT IN SOME WAYS, THE TONE HAS VERY MUCH CHANGED GIVEN THE EVENTS OF THIS WEEKEND AND THE ATTEMPTED ASSASSINATION ON DONALD TRUMP. CONSIDERING WHAT WE DID SEE IN 2020, THREATS AGAINST POLL WORKERS, FOR EXAMPLE, POLITICAL VIOLENCE ON JANUARY 6 AT THE ELECTION WAS ATTEMPTED TO BE CERTIFIED IN WASHINGTON IN EARLY 2021. HOW CONCERNED ARE YOU ABOUT POLITICAL VIOLENCE IN YOUR STATE AS WE GET CLOSER TO NOVEMBER? GOV. KEMP: WE ARE GOING TO KEEP PEOPLE SAFE IN GEORGIA. I'M NOT ALSO CONCERNED ABOUT THAT BUT MY JOB IS TO MAKE SURE THAT WE ARE CONCERNED ABOUT THAT. I DON'T WANT TO GIVE THE APPEARANCE THAT I'M WORRIED SOMETHING LIKE THAT IS GOING TO HAPPEN BUT I ALSO WANT PEOPLE TO KNOW THAT WE ARE GOING TO BE PREPARED FOR THAT. MY THOUGHTS AND PRAYERS, HEARTBREAKING LOSS OF A TRUE AMERICAN HERO THAT DIED IN THAT CROWD PROTECTING HIS FAMILY. THE OTHERS THAT ARE INJURED, YOU KNOW, THANK GOD PRESIDENT TRUMP IS WITH US TODAY HERE IN MILWAUKEE. I CANNOT IMAGINE WHAT THIS COUNTRY WOULD BE LIKE RIGHT NOW IF THAT BULLET HAD MOVED AN INCH OR TWO THE WRONG WAY. I THINK IT IS AN OPPORTUNITY FOR ALL OF US REALLY TO JUST THINK ABOUT THE WORDS THAT WE ARE SAYING AND TO MAKE SURE THAT, YOU KNOW, WE ARE HAVING OUR BATTLES IN A RESPECTFUL WAY AT THE BALLOT BOX, YOU KNOW, NOT WITH FIGHTING ONE ANOTHER OR WEAPONS OF CHOICE AS WHAT WAS REPORTED, BOMB MAKING SUPPLIES IN THIS KIDS CAR. WE NEED TO REALLY THINK THROUGH WHAT WE ARE SAYING TO PEOPLE. I WAS SAYING I GO TO CHURCH WITH A LOT OF PEOPLE THAT I KNOW DON'T VOTE FOR ME. BUT THEY DON'T YELL AT ME IN CHURCH. WE ARE JUST PRAYING TOGETHER. THAT IS WHAT THE COUNTRY NEEDS TO THINK ABOUT AS WE MOVE TO NOVEMBER. FIGHT HARD FOR YOUR POSITION BUT LET'S HAVE CIVIL DISCOURSE AND SETTLE THIS AT THE BALLOT BOX. JOE: A LOT OF PEOPLE REMEMBER THE LANGUAGE ON THE PERFECT PHONE CALL. A LOT OF PEOPLE KNOW WHO BRIAN KEMP IS. YOU FAST-FORWARD TO THIS POLITICAL CONVENTION NOW AND I WONDER WHAT YOUR THOUGHTS ARE ABOUT DONALD TRUMP, IF YOU TRUST HIM TO BE THE STEWARD HERE GOING FORWARD IF HE DOES WIN REELECTION. WOULD YOU ENDEAVOR TO HAVE A RELATIONSHIP? GOV. KEMP: WE WILL WORK WITH ANY ADMINISTRATION THAT IS IN WASHINGTON, D.C. WE HAD A GREAT WORKING RELATIONSHIP WITH THE TRUMP ADMINISTRATION WHEN THEY WERE IN OFFICE. I HAD A GREAT RELATIONSHIP WITH THE VICE PRESIDENT, WITH, YOU KNOW, GOT TO KNOW REALLY WELL A LOT OF THE CABINET SECRETARIES. WORKED VERY CLOSELY AND I HAVE BEEN ASKED A QUESTION. HOW DO YOU FEEL ABOUT DEMOCRACY AND ITS SURVIVING THIS ELECTION? I FEEL VERY OPTIMISTIC ABOUT THAT HE HAD I THINK THE INSTITUTIONS AND GOVERNMENT ARE VERY STRONG, A LOT OF PEOPLE. WHEN THEY PUT THEIR HAND ON THAT BIBLE AND TAKE THAT OATH, THEY MEAN IT AND I THINK THEY WILL DO THEIR JOB AND FOLLOW THE LAW AND THE CONSTITUTION. YOU KNOW, THE REST OF THIS YEAR AND THROUGH THIS ELECTION, YOU KNOW, I REALLY FEEL OPTIMISTIC ABOUT THAT. KAILEY: IF GEORGIA'S RESULT COMES DOWN TO A FEW THOUSAND VOTES AS IT DID LAST TIME, 12,000 WHATEVER, AND THE RESULT IS THE SAME WHERE IT IS NOT A VICTORY FOR DONALD TRUMP, DO YOU TRUST HIM TO REACT DIFFERENTLY THIS TIME? GOV. KEMP: I CAN'T SPEAK FOR HOW OTHER PEOPLE ARE GOING TO REACT AND OTHER CANDIDATES. SHE NEVER CONCEDED TO ME IN 2018. KAILEY: STACEY ABRAMS WAS NOT INDICTED ON RACKETEERING CHARGES. GOV. KEMP: STACEY ABRAMS HAS GOT A LOT OF LEGAL PROBLEMS THAT MOST PEOPLE DON'T REPORT ON. HER GROUP CERTAINLY DO. I THINK THE INSTITUTIONS OF GOVERNMENT, AT LEAST IN THE STATE OF GEORGIA, WILL HOLD IN THE 2020 ELECTION AND I'M VERY CONFIDENT ON THAT AND CONFIDENT THAT WE WILL HAVE SECURE, ACCESSIBLE, FAIR ELECTION IN OUR STATE. JOE: SHOULD GEORGIA DROP THE CASE AGAINST DONALD TRUMP? GOV. KEMP: I DON'T KNOW THAT GEORGIA HAS A CASE AGAINST DONALD TRUMP. JOE: BECAUSE OF WHAT THE SUPREME COURT SAID? GOV. KEMP: YOU WILL HAVE TO ASK WILLIS THAT QUESTION, THE LOCAL DISTRICT ATTORNEY. KAILEY: WE ARE NOT EXPECTING IT IS GOING TO GO TO TRIAL BEFORE THE ELECTION. THANK YOU SO MUCH FOR BEING WITH US HERE IN WISCONSIN. BRIAN KEMP, WE APPRECIATE YOUR TIME. HOPE WE WILL HAVE YOU BACK ON BLOOMBERG. WE WILL BE RIGHT BACK ON THIS SPECIAL EXTENDED EDITION OF BALANCE OF POWER, FROM THE RNC IN MILWAUKEE. > > THE FACT THAT WE ARE A DIVIDED NATION IS A REAL THREAT TO THIS COUNTRY. WE ARE ALL TRYING TO CREATE A BETTER COUNTRY, TRYING TO CREATE A SAFE ENVIRONMENT. LET'S FOCUS ON THOSE AREAS. I'M TRYING TO TURN DOWN THE TEMPERATURE. I'M TRYING TO GET AMERICANS TO REALIZE THAT WE ARE IN THIS THING TOGETHER AND WE SHARE THOSE SAME GOALS. JOE: WISCONSIN SENATOR RON JOHNSON TALKING WITH US AROUND THIS TIME YESTERDAY ON BLOOMBERG TV AND RADIO. THANKS FOR BEING WITH US. I AM JOE MATHIEU ALONGSIDE KAILEY LEINZ IN MILWAUKEE. ON THIS FIRST DAY OF THE REPUBLICAN NATIONAL CONVENTION. AS WE ASSEMBLE OUR PANEL, THEY ARE BACK WITH US. POLITICAL SCIENCE PROFESSOR AT IONA UNIVERSITY, SENIOR FELLOW. OUR TWO BLOOMBERG POLITICS CONTRIBUTORS ARE GREAT TO HAVE YOU BOTH WITH US ON DAY ONE. WE ARE OFFICIALLY UNDERWAY SO LET'S ACKNOWLEDGE THE FACT THAT THIS CONVENTION HAS STARTED AND WE HAVE BIG NEWS TODAY. WE HAVE ALL BEEN TALKING ABOUT J.D. VANCE FOR MONTHS. I WAS? WHAT DO YOU MAKE OF THIS PIC? > > I AM A LITTLE SURPRISED BY THE SURPRISE OR LACK THERE OF. THE CAMPAIGN WAS SORT OF GETTING US ALL EXCITED THAT THERE HAD BEEN A RE-THINK AND A RESET AND EVERYBODY WAS THINKING ABOUT WHAT ARE THE OTHER POSSIBILITIES THAT DONALD TRUMP CAN DO? RATE JOB. YOU HAD US ALL FOOLED FOR A MILE BECAUSE GOING INTO THIS WEEK, THE ODDS ON FAVORITE WAS J.D. VANCE. HE BECAME THE TALKING POINT FOR THE VICE PRESIDENT. IT IS WHAT EVERYBODY KIND OF EXPECTED TO HAPPEN. HE PLAYS TO THE BASE OF DONALD TRUMP. HE DOESN'T REALLY HAVE A PROFILE THAT WOULD BRING IN INDEPENDENT VOTERS OR SUBURBAN WOMEN OR ANY OF THE TARGET GROUPS THAT THE CAMPAIGN HAS BEEN LOOKING AT TO BUILD A BRIDGE BUT HE WILL TAKE CARE OF THE BASE. IF THERE IS AN HEIR APPARENT TO MAGA IN THE FUTURE, YOU HAVE GOT IT, J.D. VANCE. > > WE WERE TRYING TO UNDERSTAND IF WE SHOULD READ INTO THE FACT THAT NIKKI HALEY IS GOING TO BE SPEAKING AT THE CONVENTION THIS WEEK, WHETHER OR NOT TRUMP COULD SURPRISE US WITH A SELECTION, KNOWING THAT THERE WAS A PRIMARY VOTER, REPUBLICAN PRIMARY PHOTO THAT WAS CHOOSING HER OVER HIM. THOSE SAME VOTERS FIND MORE ATTRACTION TO THE DONALD TRUMP TO HATE IF J.D. VANCE IS ON IT? --TICKET IF J.D. VANCE IS ON IT? > > I DON'T SEE HOW IT I'M JUST GOING THROUGH THE ISSUES FIT ON ABORTION, THIS IS SOMEBODY WHO OPPOSES ABORTION. FOR HIS SENATE RACE, HIS LINE ABOUT ABORTION IS BAN ABORTION. UKRAINE, HE SAYS, I DON'T CARE WHAT HAPPENS WITH UKRAINE. IMMIGRATION, BUILD A WALL. OPPOSES AMNESTY. JANUARY 6, DENIES THE ELECTION. TARIFFS, 10% ACROSS-THE-BOARD. THE LIST GOES ON AND ON SO WHEN YOU TALK ABOUT NIKKI HALEY VOTERS, INDEPENDENTS, CERTAINLY, DEMOCRATS, THEY ARE FEELING THAT THIS IS SOMEBODY WHO IS A TRUMP ACOLYTE FOR SURE, WHO HAS THE LOVE AND SUPPORT OF DONALD TRUMP, JR., AND ALSO, PEOPLE LIKE TUCKER CARLSON, SO I DON'T SEE HOW HE DOES ANYTHING BUT DO WHAT DONALD TRUMP TRADITIONALLY DOES WHICH IS REINFORCED THE BASE, IT QUITE FRANKLY LEFT ME A LITTLE BIT SAD, IF YOU CAN SAY, BECAUSE I WAS SAYING MAYBE THERE WAS A MESSAGE OF UNITY. THIS IS SOMEBODY WHO BLAMED JOE BIDEN FOR THE ASSASSINATION ATTEMPT THE OTHER DAY. TWO HOURS AFTER IT HAPPENED. I DON'T KNOW IF THE NEW AND IMPROVED DONALD TRUMP I THOUGHT WE MIGHT GET IS HERE GIVEN THIS PIC. JOE: BORN JAMES DONALD MUNHALL AUGUST OF 1984, HE'S NOT EVEN 40 YEARS OLD. IS THERE AN ARGUMENT, A GENERATIONAL LEADERSHIP ARGUMENT HERE THAT WOULD APPEAL TO YOUNG VOTERS OR IS THIS DIFFERENT? JEANNE: HE ABSOLUTELY CAN APPEAL TO YOUNG VOTERS, YOUNG MEN IN PARTICULAR. HE IS, MY UNDERSTANDING, THE YOUNGEST VP NOMINEE SINCE RICHARD NIXON, THAT'S 1952, SO IT IS A SMART PICK FROM THAT PERSPECTIVE BECAUSE IT IS A CHANGE OF GENERATION. KAILEY: IF YOU ARE WATCHING ON BLOOMBERG TV, WE ARE SEEING LIVE PICTURES OF SENATOR VANCE ON THE FLOOR IN THE PFIZER FORUM OF MILWAUKEE. THERE IS A BIG SMILE ON HIS FACE AS HE SHAKES HANDS WITH THE DELEGATES THAT ARE GATHERED THERE, TAKING SOME SELFIES AS WELL. THIS OBVIOUSLY IS A BIG MOMENT FOR THE SENATOR WHO FRANKLY HAS NOT BEEN IN THE POLITICAL REALM THAT LONG HE JUST STARTED HIS SENATE TERM IN JANUARY OF 2023 WITH -- WINNING WITH HELP OF THE ENDORSEMENT OF DONALD TRUMP. BEFORE THAT, A VENTURE CAPITALIST WHICH IS WHAT MAY MAKE HIM MORE WELL KNOWN TO OUR VIEWERS AND LISTENERS ON BLOOMBERG BUT THIS KIND OF ASSENT THIS QUICKLY, KNOWING THAT DONALD TRUMP DID NOT HAVE A LONG POLITICAL HISTORY BEFORE HE WON IN 2016, WHAT DO YOU MAKE OF IT? RICK: IT IS ALMOST AN ADVANTAGE BECAUSE AS YOU POINT OUT, YOU JUST GOT A PRESIDENTIAL CANDIDATE WHO KIND OF ISSUES ESTABLISHMENT POLITICS. THERE IS NO WAY YOU COULD CALL HIM AN ESTABLISHMENT FIGURE EVEN THOUGH HE SERVES IN THE UNITED STATES SENATE. HE IS THE YOUNGEST SENATOR TO ASPIRE TO THIS LEVEL OF POSITION AND AT THE END OF THE DAY, HIS RHETORIC HAS ALWAYS BEEN ANTIESTABLISHMENT SUFFER WHEN WE FIRST REALLY STARTED TO NOTICE HIM IN 2016, WHEN HE ARGUED ABOUT BEING A NEVER TRUMPER AND HOW BAD IT WAS FOR OUR COUNTRY TO BE NOMINATING DONALD TRUMP. SO HIS ROAD TO THE VICE PRESIDENCY IS NOT SOMETHING YOU WOULD EVER RECOMMEND TO SOMEBODY TO TRY AND FOLLOW IN HIS FOOTSTEPS BUT THE BOTTOM LINE IS TRUMP DOES NOT CARE ABOUT ANY OF THAT STUFF. HE HAS JUST PROVEN AP OR ALL OF THAT IS WATER UNDER THE BRIDGE. HE'S NOT SOMEONE WHO WILL HELP APPEAL TO THESE MINORITIES, YOUNG MEN, BLACKS, HISPANICS, THAT HE IS PICKING UP OUT OF THE DEMOCRATIC COALITION. HE HAS GREAT ROOTS IN THE MIDWEST AND UNDERSTANDS THE PLIGHT OF THE WORKING CLASS. PRACTICALLY HIS OWN LIFE. I THINK THIS PLAYS TO THE STRENGTH OF THE BASE OF THE PARTY AND DONALD TRUMP, WE WILL SEE WHAT HIS SPEECH IS ON THURSDAY. MAYBE HE WILL RE-FABRICATE HIS IMAGE INTO A PLACE WHERE HE CAN ATTRACT MORE VOTERS IN THE MIDDLE. JOE: HOW DO YOU BOTH FEEL ABOUT THE REVOLUTION YOU ARE REFERRING TO HERE? SO MANY REPUBLICANS HAVE FOLLOWED THAT TRAIL AND THAT IS WHY WE ASKED GOVERNOR KEMP IF MAYBE HE WOULD GO THROUGH A SIMILAR EVOLUTION WHEN IT COMES TO DONALD TRUMP? CULTURAL HEROIN, HE SAID ON THE BOOK TOUR, LEAVING THE WHITE WORKING CLASS TO A VERY DARK PLACE. HE CALLED HIM NOXIOUS. THIS IS NOW HIS VICE PRESIDENTIAL CANDIDATE. DOES THIS GIVE OTHER REPUBLICANS COVER TO JOIN THE PARADE? JEANNE: IT'S HARD TO THINK OF REPUBLICANS AT THIS POINT WHO HAVE NOT SAID THINGS. MAYBE NOT QUITE AS STRONG, BUT YOU KNOW, WHO HAVE NOT SAID THINGS ABOUT DONALD TRUMP. THE FACT IS, DONALD TRUMP IS THE REPUBLICAN PARTY TODAY. HE OWNS THIS PARTY. HE IS LEADING IT SO YOU EITHER WANT TO PLAY WITH THE PARTY WHICH MEANS YOU HAVE TO WALK BACK, AS J.D. VANCE HAS DONE OR YOU LEAVE IT LIKE SOMEBODY LIKE LIZ CHENEY. HE EXPLAINS THIS AWAY IN A WAY THAT DOES APPEAL TO SOME REPUBLICANS I HAVE TALKED TO. I SAID THAT BEFORE HE WAS PRESIDENT. AFTER I SAW HIM IN ACTION, I WAS IMPRESSED AND I CHANGE MY MIND. HE DOES A SPLENIC. THERE IS AN AWFUL LOT OF THAT SHE DOES EXPLAIN IT. WE SHOULD MENTION THE ELECTION TO NIHILISM -- HE DOES EXPLAIN IT. WE SHOULD MENTION THE ELECTION TO NIHILISM. THIS IS -- DENIALISM. THIS IS THE KIND OF THING REPUBLICANS WILL HAVE TO DEFEND WITH THIS PICK. KAILEY: PRESIDENT BIDEN WAS JUST SAYING J.D. VANCE IS A CLONE OF TRUMP ON THE ISSUES PAID WE TALKED ABOUT HOW BIDEN MIGHT NOT BE ABLE TO GO AFTER TRUMP AFTER THE ASSASSINATION ATTEMPT. CAN YOU DIRECT ALL OF THAT TOWARDS J.D. VANCE NOW? JEANNE: THEY ARE ALREADY RELEASING PIECES. WE ARE GETTING ADS OUT. THEY ARE GOING TO GO HARD AGAINST J.D. VANCE AND SOME DEMOCRATS FEEL THIS IS A WAY TO TURN THE PAGE FROM THE ISSUE OF AGE AND JOE BIDEN TO THE ISSUE OF THE VERY CONSERVATIVE POSITIONS THAT THIS CANDIDATE HAS TAKEN. KAILEY: OUR POLITICAL PANEL ARE STAYING WITH US AS WE CONTINUE THIS SPECIAL COVERAGE OF THE REPUBLICAN NATIONAL CONVENTION IN MILWAUKEE. WE HAVE THE TICKET. WE ARE SEEING THE ACTION STILL ON THE FLOOR AT THE PFIZER FORUM. JOE: A VERY EXCITED GROUP OF DELEGATES ON THE FLOOR, NOW OFFICIALLY UNDERWAY IN MILWAUKEE. WE HEARD THE ROLL CALL. NOW, WE WAIT FOR THE SPEECHES AND WILL HAVE A LOT MORE STRAIGHT AHEAD, ONLY ON BLOOMBERG TV AND RADIO. JOE: WELCOME TO A SPECIAL EDITION OF "BALANCE OF POWER." LIVE FROM MILWAUKEE AT THE REPUBLICAN NATIONAL CONVENTION IN MILWAUKEE. DAY ONE OF THE CONVENTION, AND WE HAVE BREAKING NEWS TO SHARE WITH OUR AUDIENCE, IF YOU ARE JUST JOINING US. WE CAME TO AIR EARLY TO LET YOU KNOW THAT J.D. VANCE, THE SENATOR FROM OHIO IS DONALD TRUMP'S PICK FOR RUNNING MATE. WE ARE LOOKING AT LIVE IMAGES OF J.D. VANCE, BASKING IN THE GLOW OF THIS ANNOUNCEMENT. A LOT OF EXCITED PEOPLE ON THE FLOOR OF THE CONVENTION TODAY. KAILEY: IN SOME WAYS THE SELECTION NOT ALL THAT SURPRISING, AS WE UNDERSTOOD HE WAS ON THE SHORT LIST. DONALD TRUMP PICKING SOMEONE WHO IS SIGNIFICANTLY YOUNGER THAN HIM, THE SENATOR IS ONLY 39 YEARS OLD. SOMEONE WHO VERY MUCH IS IN KEEPING THE FORMER PRESIDENT IN TERMS OF HIS POPULIST RHETORIC JOE:. WHEN IT COMES TO THE BORDER, WHEN IT COMES TO TRADE, WHEN IT COMES TO UKRAINE, A LOT OF CROSSOVER HERE. WE TALK SO MUCH ABOUT THE LOYALTY TEST AND HE HAS BEEN ACTIVELY WORKING ON BEHALF OF DONALD TRUMP, RAISING MONEY FOR HIM AND TRYING TO PUSH THE NARRATIVE OF THIS CAMPAIGN THAT SEEMS TO BE ON PRETTY HOT FOOTING. JUST A COUPLE OF BLOCKS FROM WHERE WE ARE SITTING HERE AT BLOOMBERG NEWS IN MILWAUKEE, AND BLOOMBERG'S TYLER KENDALL HAS MADE HER WAY TO THE FLOOR OF THE CONVENTION WHERE THIS IS ALL UNFOLDING RIGHT NOW. TYLER, HOW IS IT GOING? > > SENATOR J.D. VANCE NOW THE VICE PRESIDENTIAL NOMINEE FOR THE REPUBLICAN PARTY, EVERYBODY IMMEDIATELY STOOD UP AND STARTED CHANTING. WE WILL WALK AROUND TO GIVE YOU A SENSE OF THE PEOPLE ON THEIR FEET, LISTENING TO THIS SPEECH ABOUT J.D. VANCE. THERE IS LAWMAKERS AND DELEGATES HERE, WE KNOW FROM THE RNC THEY'RE EXPECTING ABOUT 50,000 PEOPLE TO COME THROUGH HERE OVER THE NEXT FOUR DAYS OF THIS CONVENTION. EVERY BUT I'VE SPOKEN TO WANT TO TALK ABOUT J.D. VANCE, THE VICE PRESIDENTIAL PICK. AS A MEMBER OF THE SENATE BANKING COMMITTEE, WE REALLY SAW HIM SHOW THROUGH LEGISLATION THAT HAD TO DEAL WITH MORE PRO POPULIST VIEWS. EVERYBODY ALSO CHEERING AS THEY SHOW J.D. VANCE ON THE SCREEN. INTERESTINGLY ENOUGH, PERHAPS ONE OF HIS MOST DEFINING CHARACTERISTICS HAS BEEN HIS STAUNCH SUPPORT OF FORMER PRESIDENT TRUMP, AND HE OFTEN IS NOT A STRANGER TO US REPORTERS, OFTEN STOPPING TO TALK TO US ON CAPITOL HILL. I ASKED HIM DURING THE HUSH MONEY TRIAL A FEW MONTHS AGO, HERE WAS HIS ANSWER DEFENDING FORMER PRESIDENT TRUMP, THAT MIGHT GIVE US SOME INSIGHT INTO WHY HE WAS CHOSEN AS HIS VICE PRESIDENTIAL PICK. SEN. VANCE: THERE IS NO POLITICIAN IN THE COUNTRY THAT PEOPLE KNOW MORE ABOUT THAN PRESIDENT TRUMP. THERE ARE SO MANY BOMBSHELLS -- THE IDEA THAT WILL CHANGE THEIR OPINION IS PREPOSTEROUS. > > THE ENERGY IS HIGH AND EVERYTHING IS LOUD IN THIS ROOM TONIGHT AS THESE OUT -- DELEGATES ARE LISTENING TO THE SPEECHES ON THE STAGE. WE KNOW OFFICIALLY THAT J.D. VANCE WILL BE HEADLINING ON WINS TONIGHT FOR THAT PRIMETIME ADDRESS FOLLOWED BY FORMER PRESIDENT TRUMP OR HE WILL OFFICIALLY ACCEPT THE NOMINATION ON THURSDAY. KAILEY: TYLER KENDALL ON THE GROUND, ON THE FLOOR IN THE FISERV FORUM WHERE THEY ARE CHANTING "JD." WE ASSESS WHAT THIS PICK MEANS FOR THE TRAJECTORY OF THE CAMPAIGN, NOW THAT WE KNOW IT'S NOT JUST TRUMP 2020 FOR BUT TRUMP-VANCE. WELCOME TO BOTH OF YOU, THANK YOU FOR BEING HERE. KNOWING HE WAS ALWAYS IN THE MIX, WE UNDERSTOOD HIM TO BE POTENTIALLY IS IT TOP OF THE SHORT LIST AS WE GOT CLOSER TO THIS CONVENTION. IN THE AFTERMATH OF THE ASSASSINATION ATTEMPT THIS PAST WEEKEND ON DONALD TRUMP'S LIFE, THERE WAS A THOUGHT THAT MAYBE HE WOULDN'T BE GOING FOR AN ATTACK DOG, THAT MAY NOT NECESSARILY BE WHAT DONALD TRUMP HAS CHOSEN. > > THE SMART MONEY WAS ALWAYS BEHIND HIM, BUT HE COMES FROM THE MORE IDEOLOGICAL WING OF THE PARTY. TRUMP HAD OTHERS HE COULD'VE GONE WITH, INCLUDING THE GOVERNOR OF NORTH DAKOTA, COMES FROM THE GOVERNOR'S POLITICAL PARTY, VERY POLICY FOCUSED. J.D. VANCE IS SORT OF THE LITERARY FACE OF THE TRUMP MOVEMENT. HE HAD THAT 2016 MEMOIR, HILLBILLY ELEGY, THAT TOLD THIS GRIPPING PERSONAL STORY THAT LAID BARE A LOT OF THE ECONOMIC FRUSTRATIONS AND THE CULTURAL MALAISE IN THE COUNTRY THAT A LOT OF PEOPLE OF USED TO EXPLAIN TO -- TRUNKS RISE TO POWER. HE'S A LOT YOUNGER, AS YOU POINTED OUT. THIS COULD BE TRUMP'S HEIR APPARENT IN 2028. TRUMP CAN RUN AGAIN AFTER FOUR MORE YEARS. HE IS ONLY 39 YEARS OLD. YOU HAVE TO THINK HE IS A FUTURE REPUBLICAN CANDIDATE, NOT JUST FOR VICE PRESIDENT, BUT FOR PRESIDENT OF THE UNITED STATES. JOE: I SPOKE WITH A REPUBLICAN SOURCE SHORTLY AFTER THIS ANNOUNCEMENT. JULIE FINE SCRIBED HIM AS THE YOUNGEST, HUNGRIEST, ANGRIEST, AND MOST REDMEAT OPTION THAT DONALD TRUMP HAD. SO HE CAN NOW SIT BACK AND LET VANCE RUN AND PLAY DEFENSE FOR HIM. WHAT DO YOU THINK? > > I DON'T THINK THE FORMER PRESIDENT IS EVERYONE TO SIT BACK PRETTY THE PRESSURE ISN'T ON HIM AS MUCH TO BE THE ATTACK PERSON. HE'S GOT SOMEBODY THAT CAN DO IT FOR HIM. AT THIS POINT HE HAS ANOTHER PERSON HERE. I THINK WHAT WILL BE INTERESTING HERE IS TO SEE HOW J.D. VANCE HANDLES THIS. THERE'S BEEN ALL THIS DISCUSSION NOW ABOUT DECORUM AND BRINGING DOWN THE VOLUME AFTER WHAT HAPPENED THIS PAST WEEKEND. HOW DOES J.D. VANCE HANDLE THAT? THIS IS NOT A GUY THAT BRINGS DOWN THE VOLUME. IT WILL BE INTERESTING TO SEE HOW THAT FITS IN WITH THE TICKET. KAILEY: IT'S ALSO INTERESTING TO SEE WHO HE BRINGS ALONG WITH HIM. IF THIS IS ANOTHER POPULIST WHITE MAN, WHAT NUANCE CAN HE PROVIDE THAT WOULD ATTRACT, SAY, AN INDEPENDENT, UNDECIDED VOTER? > > I THINK THE THING THAT HE BRINGS TO A VERY SMALL DEGREE IS YOUTH, IN TERMS OF WHO WE ARE SEEING RUNNING RIGHT NOW. HE IS YOUNGER, HE HAS A DIFFERENT BACKGROUND. HE IS IN AUTHOR, MANY PEOPLE HAVE READ HIS BOOK. IT WAS A VERY POPULAR READ. IT WASN'T JUST SOMETHING HE SORT OF PICKED UP OFF THE SHELF AT SOME POINT. HE IS WELL-KNOWN WITH THAT, AND HE BRINGS A SOMEWHAT YOUNGER VOTE. I THINK THAT'S REALLY THE BIGGEST DIFFERENCE BETWEEN HIM AND THE FORMER PRESIDENT. JOE: HE WAS SLATED TO SPEAK TOMORROW NIGHT, WHICH MIGHT'VE BEEN AN ATTEMPT TO GET REPORTERS OFF THE SCENT HERE LITTLE BIT, IT LOOKS LIKE KRISTI NOEM NOW HAS OFFICIALLY A SPEAKING ROLE IN THIS CONVENTION. MORE BROADLY, WE THINK ABOUT THE MESSAGING AT THIS RNC, IF THIS IS THE UNITY CONCILIATORY CHANGE TO TRUMP THAT WE'VE BEEN HEARING ABOUT SINCE SATURDAY. > > I THINK WE WILL HAVE TO SEE. THE CONVENTION JUST GAVELED TO ORDER AN HOUR OR TWO AGO. IN MY MIND, IT'S THE SINGLE BIGGEST QUESTION OF THIS CONVENTION. THERE IS NO SUSPENSE AT DONALD TRUMP IS GOING TO ACCEPT THE NOMINATION. WE NOW KNOW WHO THE VICE PRESIDENTIAL PICK IS, SO THE REST OF WHAT WE ARE LOOKING FOR OTHER THAN A DAYS IS EXACTLY THAT, WHETHER TRUMP MAKES GOOD ON THIS PROMISE THAT HE RIPPED UP HIS SPEECH AND NOW IS GOING TO GIVE A MORE YOU COULD CALL IT CONCILIATORY, BUT SOME SORT OF APPEAL TO NATIONAL UNITY, HOW THAT CHANGES THE WHOLE TONE AND TEXTURE OF THIS CONVENTION. WHETHER THAT CHANGES HOW PEOPLE PERCEIVE DONALD TRUMP. AFTER RONALD REAGAN WAS SHOT IN 1981, HE TALKED ABOUT HOW THAT WAS A DEFINING MOMENT IN HIS LIFE. HE THOUGHT THAT GOD SORT OF PUT HIM -- SAVED HIM FROM THAT ASSASSINATION ATTEMPT FOR REASON AND IT CAME FROM A DEEP PURPOSE. WANT TO SEE ON 13 NIGHT WHETHER DONALD TRUMP GIVES US SOME SENSE OF THAT PURPOSE THAT HE HAS BEEN IMBUED WITH AFTER THAT VERY NARROW ESCAPE FROM ASSASSINATION ON SATURDAY NIGHT. KAILEY: WE KNOW THAT HE WAS ORIGINALLY PLANNING ON HOW HE DESCRIBED IT TO BE A HUMDINGER OF A SPEECH. HE IS REWORKING IT NOW AND SAID HE WANT TO FOCUS MORE ON UNITY. IT'S ANOTHER THING TO THINK ABOUT JOE BIDEN'S TONE, KNOWING THAT IN JUST A FEW HOURS, WE ARE ALL GOING TO WATCH A SIT DOWN WITH LESTER HOLT, THAT HE'S BEEN SPEAKING ABOUT DONALD TRUMP IS A THREAT TO DEMOCRACY, WHEN HE WAS JUST THREATENED HIMSELF DURING THE COURSE OF THE DEMOCRATIC PROCESS. HOW COMPLICATED DOES THE MESSAGING BECOME, OR IS THE NEW OUTLET OF JOE BIDEN'S ATTACK J.D. VANCE? > > I THINK IT HAS NARROWED THE PATH FORWARD FOR BIDEN STRATEGICALLY IN TERMS OF HOW HE CAN TALK ABOUT TRUMP AND HOW HARD HE CAN GO AFTER HIM. I THINK YOU RAISE A GOOD POINT, BRINGING IN VANCE IS A GOOD STRATEGY. THE BIDEN CAMPAIGN HAS ALSO TRIED TO MAKE THIS NOT JUST ABOUT TRUMP THE PERSON, WHO OBVIOUSLY THEY HAVE ATTACKED HIM ON HIS CHARACTER, THEY'VE ATTACKED HIM ON JANUARY 6, BUT THEY'VE ALSO ATTACKED HIM ON POLICY, ON ABORTION, ON HIS HANDLING OF COVID, THE MORE DEMOCRATIC ISSUES. THE POLICY ISSUES CERTAINLY HAVE NOT GONE AWAY JUST BECAUSE OF WHAT HAPPENED ON SATURDAY NIGHT. BUT YES, BIDEN HAS TO BE A LOT MORE CAREFUL -- MORE CAREFUL ABOUT HOW HE TALKS ABOUT THIS. ON TOP OF ALL THE QUESTIONS ABOUT HIS AGE AND HOW HE TALKS ABOUT ANYTHING ANYTIME, ANYWHERE, GIVEN HIS DEBATE PERFORMANCE LAST MONTH. JOE: WE WILL BE HEARING SNIPPETS FROM JOE BIDEN SIT-DOWN INTERVIEW ON NBC NEWS. IS THIS A TREE FALLING IN THE WOODS HERE? IS ANYONE GOING TO PAY ATTENTION TO THIS ON DAY ONE OF THE RNC? > > I THINK THERE WILL BE CERTAINLY POLITICAL INSIDERS AND THOSE WHO WANT TO SEE WHAT HE DOES IN TERMS OF -- THE POLITICAL CYCLE MOVE SO QUICKLY. REMEMBER LAST WEEK WE WERE TALKING ABOUT, IS JOE BIDEN EVEN GOING TO MAKE IT? AND THIS HAPPENS OVER THE WEEKEND, THAT'S WHERE ALL THE ATTENTION GOES. THERE ARE STILL A LOT OF DEMOCRATS WHO HAVE LINED UP BEHIND HIM THAT DON'T WANT HIM TO BE THE NOMINEE. I THINK THOSE WILL BE THE PEOPLE PAYING SPECIFICALLY CLOSE ATTENTION. WE MAY NOT BE PAYING ATTENTION, BUT IF THERE IS A BIG GAFFE TONIGHT, THEN PEOPLE WILL BE PAYING MORE ATTENTION. JOE: MANY THANKS TO JULIE AND GREGORY WITH US HERE AT THE DESK IN MILWAUKEE. COMING, A SPECIAL EDITION OF THIS RNC, MORE LIVE COVERAGE FROM THE CONVENTION. WILL BE JOINED BY THE OHIO CONGRESSMAN ON THE DAY THE OHIO CENTER IS NAMED DONALD TRUMP'S RUNNING MATE. THIS IS BALANCE OF POWER, ON BLOOMBERG TV AND RADIO. > > THIS CONVENTION WILL COME TO ORDER. DELEGATES AND ALTERNATE DELEGATES, LADIES AND GENTLEMEN, WELCOME TO THE 2024 REPUBLICAN NATIONAL CONVENTION. JOE: AND THEY ARE ALL. REPUBLICAN NATIONAL COMMITTEE CHAIR MICHAEL WALLY A SHORT TIME AGO GAMBLING IN THE SESSION IN MILWAUKEE FROM WHERE WE JOIN YOU NOW. I'M JOE MATHIEU ALONGSIDE KAILEY LEINZ. WITH BREAKING NEWS, THE FIRST AT THE RNC, J.D. VANCE, THE SENATOR FROM OHIO IS THE REST OF THE TICKET. TRUMP I'VE BEEN VANCE, NOT A SHOCKER. HE'S BEEN ON THE SHORT LIST FOR WEEKS AND NOW WE KNOW IT IS OFFICIAL. KAILEY: LOTS OF SMILES, LOTS OF HANDSHAKES AND CHEERS ON THE FLOOR THAT WE HEARD FROM TYLER KENDALL ON THE GROUND THERE. IT DOES SEEM TO BE A CELEBRATION OF HIS SELECTION TODAY WHICH DIDN'T COME AS TOO MUCH OF A SURPRISE. JOE: WE UNDERSTOOD MARCO RUBIO GOT THE PHONE CALL SAYING NOT TODAY, NOT THIS TIME. SHORTLY THEREAFTER WE UNDERSTOOD J.D. VANCE WAS IN A MOTORCADE LEAVING HIS HOME, WITH US NOW IN MILWAUKEE. WE WANTED TO BRING ANOTHER REPUBLICAN VOICE FROM THE STATE OF OHIO. CONGRESSMAN, THANK YOU FOR SPENDING SOME TIME WITH US TODAY ON BLOOMBERG TV AND RADIO. HOW WELL DO YOU KNOW J.D. VANCE AND WHAT DO YOU THINK OF THE PICK? > > I LIKE THE PICK. OBVIOUSLY BEING FROM OHIO, I LOVE THE PIC, AND THAT'S BESIDE THE POINT IN MANY WAYS. I GOT TO KNOW JD A LITTLE BIT AFTER HE CAME OUT WITH THE BOOK. HE LIVES NEAR ME IN OHIO, AND WE HAD SPENT TIME TOGETHER RUNNING FOR THE SENATE. SO I GOT TO KNOW HIM PRETTY WELL. A LOT OF PEOPLE KNOW HIS STORY, SOME PEOPLE DON'T. HE'S LIKE THE CINDERELLA MAN. HE'S GONE FROM WELFARE TO WALL STREET, AND HE DID IT WITHOUT WINNING A LOTTERY TICKET. HE DID IT BY GOING OUT, JOINING THE MARINES, DECIDING HE WANTED A DIFFERENT LIFE. HE GREW UP IN POVERTY, RAISED BY HIS GRANDMOTHER. SO MANY AMERICANS TODAY KNOW THAT STORY. SURROUNDED BY ADDICTION AND INSTABILITY WITHIN THE HOME, BUT THE MARINES GAVE HIM A HOME, THEY GAVE HIM LEADERSHIP. HE UNDERSTANDS MILITARY LIFE. THAT IS AN IMPORTANT COMPONENT FOR LEADERSHIP IN THE WHITE HOUSE. HE GOES TO OHIO STATE UNIVERSITY AND GAIL LAW SCHOOL. HE IS SMART WITH STREET CREDIBILITY. I'M VERY PASSIONATE ABOUT TRYING TO LIFT PEOPLE OUT OF POVERTY. HERE IS SOMEONE WHO GETS IT. WE SEE DEMOCRATS TALK A LOT ABOUT TAXING THE RICH, BUT THEY DON'T TALK MUCH ABOUT LIFTING PEOPLE OUT OF POVERTY. J.D. VANCE HAS LIVED THIS EXPERIENCE, AND WE NEED THAT SOMEONE IN LEADERSHIP WHO UNDERSTANDS THAT EXPERIENCE. IT'S NOT JUST SOMETHING ON PAPER FOR HIM. SAME WITH MILITARY. HE'S GOT THE LEADERSHIP SKILLS, HE KNOWS THE LAW. HE IS FAMILIAR SO MANY THINGS THAT CAN BE SO HELPFUL IN THAT POSITION OF VICE PRESIDENT. KAILEY: IF THE TICKET WINS AND HE DOES INDEED BECOME VICE PRESIDENT, HE WILL BE LEAVING OPEN A LEADERSHIP POSITION IN THE U.S. SENATE. IS THAT A JOB YOU WOULD GO FOR? > > I'M ALWAYS WILLING TO LISTEN. YOU LISTEN TO YOUR PRESIDENT, YOU LISTEN TO YOUR GOVERNOR. WE WILL SEE WHAT TAKES PLACE. THIS IS MY LAST TERM IN THE HOUSE OF REPRESENTATIVES. I'VE BEEN MISSING MY FAMILY A LITTLE TOO MUCH. AND I FIRST STARTED I HAD NO CHILDREN. NOW I HAVE TWO. I AM WILLING TO SERVE MY COUNTRY WHENEVER I COULD, AND I JOIN THE MILITARY IN 1998, 911 HAPPEN, I SPENT A YEAR IN A RACK BY MYSELF AND THAT LED ME TO RUN FOR CONGRESS BECAUSE I LOOKED AT WASHINGTON, D.C. AND SAID WE'VE GOT PEOPLE RUNNING BUSINESSES THAT NEVER RAN A BUSINESS. I STARTED WITH MY OWN PRACTICE AND JOINED A LARGE ORTHOPEDIC GROUP. I JUST FINISHED WHEN HE FIVE YEARS OF SERVICE AND WAS SERVING AT WALTER REED WHEN I GOT ELECTED. I HAVE THAT HEALTH BACKGROUND AND THOSE ARE ALL IMPORTANT THINGS. SO I DO WANT TO CONTRIBUTE IN SOME WAY, SHAPE, OR FORM, EVEN AFTER I LEAVE THE HOUSE OF REPRESENTATIVES. JOE: CONGRESSMAN, FROM YOUR PERCH ON THE INTELLIGENCE COMMITTEE, ABOUT SECURITY AT THIS REPUBLICAN NATIONAL CONVENTION. WE HEARD FROM ALEJANDRO MAYORKAS WHO SAID THIS ABOUT ADDITIONAL SECURITY AROUND THE GATHERING THIS WEEK. > > AT THE RNC, WE ARE STEADILY INCREASING AND LIMITATION OF SIGNIFICANT PHYSICAL AND TECHNICAL ENHANCEMENTS AT EVERY PROTECTIVE VENUE IN SUPPORT OF PROTECT THESE. WE ARE ALSO LEVERAGING STRONG RELATIONSHIPS ACROSS THE LAW ENFORCEMENT COMMUNITY. JOE: WE HAD AN ATTEMPTED ASSASSINATION ON SATURDAY, WHAT IS THE THREAT LEVEL FOR THIS RNC? > > I WOULD HOPE THAT THE RNC IS VERY WELL-CONTROLLED CONTROLLED. I REMEMBER LAST TIME IN CLEVELAND, IT WAS VERY WELL CONTROLLED. I FELT SAFE WHEREVER I WAS, AND HOPEFULLY ASSIST SAME ENVIRONMENT HERE. I AM SURPRISED THAT A PERSON WOULD CLIMB UP ON THE TOP OF A BUILDING AND TAKE A SHOT AT THE PRESIDENT. MAYBE IT'S MY MILITARY TRAINING AND THINGS THAT HAVE HAPPENED TO ME IN CONGRESS, LIKE A SHOOTING AT THE BASEBALL FIELD. YOU TEND TO GET TUNED IN ON WHERE AND WHEN YOU SHOULD BE SEEKING TO MAKE SURE YOU HAVE THE SECURITY THAT YOU NEED. THAT'S WHY WE PRACTICE BASEBALL TODAY, WE HAVE PLENTY OF SECURITY. IT'S A SHAME IT TOOK AN UNFORTUNATE INCIDENT TO REALIZE THAT. BUT I WOULD THINK THAT IN MILWAUKEE, IF IT'S ANYTHING LIKE IT WAS IN CLEVELAND, WE SHOULD BE IN GOOD SHAPE. KAILEY: AS WE THINK ABOUT WHAT HAPPENED THIS PAST WEEKEND, IT'S ALSO WORTH POINTING OUT WHAT SENATOR VANCE'S REACTION WAS IN THE AFTERMATH OF THE SHOOTING, SAYING THE CENTRAL RIM AS THE BIDEN CAMPAIGN IS THAT PRESIDENT TRUMP IS A FACTIOUS WHO MUST BE STOPPED AT ALL COSTS. NOW THAT HE IS A VICE PRESIDENTIAL NOMINEE, DOES HE NEED TO BE MORE CAREFUL WITH HIS LANGUAGE? > > I THINK WE ALL DO. THAT IS SOMETHING THAT IS OF CONCERN. OF CONCERN. I TALKED ABOUT THIS FOR SOME TIME. WHEN WE SAW PEOPLE SAYING NEIGHBORS OF CONGRESS SAYING GO OUT THERE, GET IN THEIR FACE, THIS IS WHAT PEOPLE HERE, ESPECIALLY YOUNG, IMPRESSIONABLE PEOPLE. IF SOMEONE THINKS ARE GOING TO BE A HERO BECAUSE THEY DO JUST THAT, THAT'S A PROBLEM. BECAUSE IT'S NOT HEROIC. WE'VE HAD THE OPPORTUNITY TO DO THAT. WE BLAME IT ON THE INDIVIDUAL WHO CARRIES OUT THE ACT, BECAUSE YOU SHOULDN'T BE SO INFLUENCED BY SOMEONE'S RHETORIC, BUT BUT THAT IS WORLD WE'RE LIVING IN TODAY, AND IT BE AVOIDED. DONALD TRUMP WAS PRESIDENT BEFORE. DID HE BECOME A DICTATOR THEN? HE WAS NO MORE OF A DICTATOR THAN ANY OTHER PRESIDENT WHEN IT COMES TO EXECUTIVE ORDERS, ETC. DID DEMOCRACY GO AWAY? NO. WE HAD A MORE PEACEFUL WORLD AND WE HAVE TODAY. AND THAT'S ONE OF THE THINGS THAT I THINK J.D. VANCE CAN UNDERSTAND, AND HOW WE GO ABOUT THAT. WHEN TRUMP WAS PRESIDENT, NORTH KOREANS WERE NOT FIRING MISSILES. THE CONVERSATIONS WITH THE CHINESE AND FIGHTING BACK AGAINST OUR EFFORTS, PUTIN DID NOT INVADE UKRAINE UNDER THE TRUMP ADMINISTRATION, BUT HE DID UNDER THE -- UNDER THE BIDEN AND UNDER THE OBAMA ADMINISTRATION. YOU HAD UNIONS BEHIND IT. KAILEY: THE REPUBLICAN CONGRESSMAN FROM OHIO, THANK YOU SO MUCH FOR JOINING US THIS EVENING. WE WILL HAVE MUCH MORE AHEAD HERE, LIVE FROM THE REPUBLICAN KAILEY: THIS IS "BALANCE OF POWER," ON BLOOMBERG TV AND RADIO. LIVE FROM THE REPUBLICAN NATIONAL COMMISSION IN MILWAUKEE. WE WANTED TO GET A CLOSER LOOK WITH ABIGAIL DOOLITTLE IN NEW YORK. ABIGAIL: WE CERTAINLY DID SEE A REACTION FROM MARKETS AROUND THE ATTEMPTED ASSASSINATION OF THE FORMER PRESIDENT. WE SEE THIS THROUGH WHAT IS CALLED THE TRUMP TRADE, BASICALLY STOCKS OR SECTORS OR AREAS OF THE MARKETS THAT WILL DO WELL OR POORLY WERE HE TO BE ELECTED BASED ON POLICY DECISIONS. GIVEN THE FACT THAT THERE IS DJT, OR ESSENTIALLY HAS MEDIA COMPANY, WE HAVE AN EASY WAY TO SEE WHAT MARKETS THINK, AND YOU CAN SEE UP MORE THAN 30%, THIS IS THE MARKETS WAY OF SAYING THEY THINK PRESIDENT TRUMP, FORMER PRESIDENT TRUMP IS MORE LIKELY TO GET REELECTED THAN NOT, AND HAVING TO DO WITH THE ASSASSINATION ATTEMPT, HE WAS DEFIANT, BOLD, FEARLESS, THOSE ARE PROBABLY THE QUALITY SOME PEOPLE THINK MAKE HIM A LEADER. APPLE UP 1.7%, THIS IS ONE THE MOST HIGHLY TACKED STOCKS IN THE COMPANY, SO IF THE FORMER PRESIDENT WERE TO BE ELECTED, THAT COULD HELP OUT APPLE. HUMANA, THE INSURANCE COMPANY, IN THAT THAT SHE WANTED TO REPEAL THE AFFORDABLE CARE ACT. THE NUMBER ONE THING IS CERTAINTY. INVESTORS WANT CERTAINTY. WE SAID THAT IN THE VICKS CURVE, BACK IN APRIL, THE VICKS HAD BEEN CLOSER FOR OCTOBER 220 OR SO, NOW IT IS COMING DOWN TO 17. THAT IS STILL ELEVATED BUT IT TELLS YOU THAT INVESTORS IN THE MARKET THINK THERE'S A HIGHER CHANCE AT FORMER PRESIDENT DONALD TRUMP WILL BE ELECTED. THEY LIKE CERTAINTY, SO WE ARE SEEING THAT IN LOTS OF AREAS OF THE MARKET. REMARKABLE AS WE HAVE FOUR MONTHS AS WE FIGURE THIS OUT. I THANKS TO ABIGAIL DOOLITTLE, THE TRUMP TRADE ALIVE AND WELL. COMING UP, A AT WHAT'S NEXT FOR > > THIS IS THE FIRST TIME THAT A JUDGE HAS THROWN OUT A SPECIAL COUNSEL STATUTE IS UNCONSTITUTIONAL WHEN YEARS HAVE GONE BOB BUT JUDGES REPEATEDLY ACKNOWLEDGING THAT IT IS CONSTITUTIONAL. SO THIS IS JUDGE CANNON DOING JUDGE CANNON THINGS, AND SHE WILL BE APPEALED, AND I DO EXPECTS THEM TO ASK HER TO BE REMOVED FROM THE CASE. KAILEY: THAT WAS THE PALM BEACH COUNTY STATE ATTORNEY SPEAKING WITH US AFTER THE JUDGE DISMISSED FORMER PRESIDENT TRUMP'S CLASSIFIED DOCUMENTS CASE IN TODAY. WE DO NOT HAVE AN APPEAL FROM THE SPECIAL COUNSEL WHO HAS APPEALED THE ORDER IN THIS CASE. TO DISCUSS WHAT THE FATE OF THAT APPEAL MAY BE AND WHAT HAPPENS NEXT, LET'S BRING IN THE PRESIDENT OF THE CONSTITUTIONAL ACCOUNTABILITY CENTER WHO JOINS US NOW ON BLOOMBERG TV AND RADIO AS WE BROADCAST LIVE FROM MILWAUKEE, WISCONSIN, THE SCENE OF THE REPUBLICAN NATIONAL CONVENTION. MAYBE SOME ADDED DRAMA TODAY WITH THIS NEWS FROM JUDGE CANNON. JACK SMITH HAS NOW APPEALED THIS. HOW LONG WITH THE PROCESS TAKE? > > IT CERTAINLY WAS REMARKABLE, AND UNPRECEDENTED DECISION, AS YOU NOTED, JUST RECENTLY THERE WERE REPORTS THAT DCM VIRGINIA AND APPELLATE COURT THAT UPHELD THE APPOINTMENT OF THE SPECIAL COUNSEL, SO THIS IS REALLY AN OUTLIER DECISION. I THINK NOW WITH THE APPEAL IN THE 11TH CIRCUIT, THERE HAS BEEN DELAY IN THIS CASE, BUT IT HAS NOT COME FROM JACK SMITH. HE HAS MOVED VERY SWIFTLY, SO I'M NOT SURPRISED TO SEE A MOVE SWIFTLY HERE. CERTAINLY THE LAW, THE PRESIDENT IS ON THE SIDE OF SPECIAL COUNSEL DECK SMITH BEEN ABLE TO GO FORWARD WITH THE CLASSIFIED DOCUMENTS AND OBSTRUCTION OF JUSTICE CASE THAT HE HAS IN FLORIDA. BUT I THINK THE QUESTION IS, HOW LONG DOES IT ALL TAKE, NOT JUST AT THE 11TH CIRCUIT, WHICH IS THE NEXT APPEAL, BUT ALSO THE UNITED STATES SUPREME COURT, IF IT GETS THERE, AND WHAT WILL THE SUPER MAJORITY ON THE SUPREME COURT DO WITH THE CASE? WE'VE ALREADY SEEN FORMER PRESIDENT TRUMP GET A VICTORY IN THE PRESIDENTIAL IMMUNITY CASE STEMMING OUT OF THE JANUARY 6 CASE THAT IS PENDING IN D.C.. THIS WAS ANOTHER VICTORY FOR HIM, BUT I THINK WE WILL SEE HOW LONG AT LAST, GIVEN THE FACT THAT A LONG-STANDING PRECEDENT AND CONSTITUTIONAL HISTORY IS ON THE SIDE OF THE SPECIAL COUNSEL. JOE: IF THIS EFFORT FAILS, WHAT DOES THAT MEAN FOR HIS JANUARY 6 TRIAL? > > ON THE CLASSIFIED DOCUMENTS ESPIONAGE ACT OBSTRUCTION CASE, THERE ARE OPTIONS EVEN OUTSIDE OF JACK SMITH HIMSELF. THE RULING FROM THE JUDGE DIDN'T HAVE ANYTHING TO DO WITH THE MERITS OF THE CASE, IT IS IMPORTANT TO NOTE THAT. THE CHARGES, MY UNDERSTANDING IS THAT COULD BE REFILED BY THE U.S. ATTORNEY IN FLORIDA, PERHAPS THEY COULD EVEN BE FILED IN ANOTHER JURISDICTION WHERE THEY COULD TIE THAT JURISDICTION TO SOME MISHANDLING OF CLASSIFIED DEFENSE INFORMATION UNDER THE ESPIONAGE ACT OR THE OBSTRUCTION. SO THERE ARE STILL OPTIONS FOR THAT PARTICULAR CASE ITSELF. WITH RESPECT TO THE JANUARY 6 CASE WHERE SPECIAL COUNSEL IS OBVIOUSLY PURSUING THAT IN D.C.. IN THAT JURISDICTION, THE APPELLATE COURT HAS SAID THAT THE SPECIAL COUNSEL APPOINTMENT PROCESS THAT HAS BEEN USED BY DEMOCRATIC AND REPUBLICAN PRESIDENTS ALIKE FOR DECADES, THEY'VE SAID THAT'S CONSTITUTIONAL SO I DON'T THINK JUDGE CANNON'S RULING WOULD AFFECT THE PROCEEDINGS WITH RESPECT TO THE APPOINTMENTS CLAUSE ISSUE IN D.C. KAILEY: WE SPOKE ABOUT THIS WITH A MEMBER OF THE HOUSE JUDICIARY COMMITTEE EARLIER TODAY ON THIS QUESTION AROUND THE CONSTITUTIONALITY OF SPECIAL COUNSEL. THIS IS WHAT SHE SAID. > > I WOULD SAY THAT WE NEED TO REALLY HAVE A SERIOUS CONVERSATION ABOUT USING SPECIAL COUNSEL. WE HAVE ALL THIS INVESTIGATION GOING SO NO ONE CAN ASK QUESTIONS, OR IT'S NO TRANSPARENCY. THEN THE STATUTE OF LIMITATIONS EXPIRES SO NO ONE IS BRINGING CHARGES, AND THERE'S NO ROW CONSEQUENCES FOR DOING SOME THINGS THAT ARE PRETTY SERIOUS. KAILEY: IS THERE A DANGER HERE THAT A GENIE GETS LET OUT THAT CAN'T ACTUALLY BE PUT BACK IN THE BOTTLE IN TERMS OF HOW THE DEPARTMENT OF JUSTICE CAN CONDUCT ITSELF WITH THESE APPOINTMENTS GOING FORWARD? > > THE IDEA BEHIND SPECIAL COUNSEL'S IS TO ADD MORE ACCOUNTABILITY TO THE RULE OF LAW AND NOT LEGS -- NOT LESS. THERE'S A LITTLE BIT OF IRONY THAT FORMER PRESIDENT TRUMP HAS BEEN SAYING REPEATEDLY TO ANYONE WHO WILL LISTEN THAT THIS IS THE WITCHHUNT BEING ORCHESTRATED A PRESIDENT BIDEN AND DEMOCRATS, AND THEN WE HAVE ON THE OTHER HAND, ATTORNEY GENERAL MERRICK GARLAND AND OTHER MEMBERS OF THE DEPARTMENT OF JUSTICE ASSURING THEIR INDEPENDENCE, AND THEN WE HAVE JUDGE CANNON SAYING THIS MORNING THAT THE PROBLEM IS THAT JACK SMITH IS TOO INDEPENDENT, THAT HE SHOULD BE MORE ACCOUNTABLE TO THE PRESIDENT, WHO SHE SAYS SHOULD BE APPOINTING HIM AND THE DEMOCRATICALLY LED SIN IN WHICH SHOULD CONFIRM HIM UNDER HER UNDERSTANDING OF THE CONSTITUTION. SO THERE'S A LITTLE BIT OF IRONY THERE, BUT I'M SURE FORMER PRESIDENT TRUMP IS HAPPY TO HAVE THE WIN EITHER WAY. BUT THE WAY SPECIAL COUNSEL HAVE BEEN USED OR TRY TO ENSURE THERE IS NO FEAR OF FAVOR WHEN IT COMES TO ACCOUNTABILITY TO THE RULE OF LAW, EVEN FOR VERY POWERFUL PEOPLE LIKE FORMER PRESIDENTS. SO THE IDEA THAT GETTING RID OF THE SPECIAL COUNSEL WILL SOMEHOW LEAD TO MORE ACCOUNTABILITY IS NOT SOMETHING WE HAVE SEEN HISTORY BEAR OUT. CERTAINLY THAT WAS NOT THE SUPREME COURT'S IMPRESSION WHEN IT DECIDED THE U.S. V. NIXON CASE, WHICH HAS BEEN USED TO DEFEND THE CONSTITUTIONALITY OF SPECIAL COUNSEL'S AND SPECIAL PROSECUTORS FOR DECADES. JOE: ELIZABETH , WERE TALKING TO YOU FROM MILWAUKEE WITH THE RNC THE BACKDROP OF OUR PROGRAMMING THIS WEEK. OTHER THAN THE SENTENCING THAT DONALD TRUMP FACES FROM THE TRIAL IN SEPTEMBER, IS THERE ANYTHING ELSE WHEN YOU LOOK AT THE TIMELINE THAT FROM A LEGAL PERSPECTIVE COULD DERAIL HIS RUN FOR THE PRESIDENCY? > > FROM A LEGAL PERSPECTIVE, EVEN IF YOU ARE CONVICTED BY A JURY OF HIS PEERS IN THESE CASES HIM AND THAT ALONE IS A TECHNICAL MATTER WOULD NOT BE ENOUGH TO DERAIL HIS PRESIDENCY. BUT I THINK HIS RUN FOR THE PRESIDENCY AND POSSIBLE VICTORY, BUT WHAT IT DOES SIGNAL TO THE AMERICAN PEOPLE IS THAT THIS IS A DECISION THAT THEY NEED TO MAKE AT THE BALLOT BOX, EVEN IF A DECISION CANNOT BE REACHED AT THE JURY BOX BEFORE THE PRESIDENTIAL ELECTION IS HELD IN NEW JERSEY -- IN NOVEMBER. I THINK WE WILL SEE MORE ABOUT HIS INVOLVEMENT IN INCITING THE JANUARY 6 INSURRECTION IN THE ATTEMPTED THWARTING OF THE WILL OF THE PEOPLE FROM THE 2020 ELECTION AND THE PEACEFUL TRANSFER OF POWER IN THAT CASE. WE ARE LIKELY TO SEE SOME OF THAT INFORMATION WHEN THE DISTRICT COURT IN D.C. DOES SIFT THROUGH THESE ISSUES A PRESIDENTIAL IMMUNITY THAT WERE REMANDED FROM THE SUPREME COURT. SO THE AMERICAN PEOPLE MIGHT BE GETTING MORE INFORMATION, EVEN IF THERE ARE NOT JURY VERDICTS BEING RENDERED FOR NOVEMBER. ONE THING THAT IS INTERESTING IN ALL OF THIS IS THAT IT IS HIGHLIGHTING THE ROLE OF THE SUPREME COURT AND ITS IMPORTANCE AND THE WAY IN WHICH ELECTIONS MATTER FOR THE COURTS, BECAUSE COURTS MATTER. ONE OF THE REASONS WE HAVE THIS JUDGE CANNON RULING IS LIKELY VERY MUCH THAT JUSTICE THOMAS, THE CONSERVATIVE JUSTICE ON THE SUPREME COURT, ISSUED A CONCURRENCE IN THE PRESIDENTIAL IMMUNITY CASE, SAYING I'M WRITING THIS TO GIVE A POTENTIAL GREEN LIGHT TO OTHER JUDGES WHO ARE CONSIDERING THE SPECIAL COUNSEL CONSTITUTIONALITY. SO WE ARE SEEING A LOT OF FOCUS ON OTHER PARTS OF THE GOVERNMENT THAT PEOPLE WILL KEEP IN MIND WHEN THEY GO TO THE BALLOT BOX. JOE: ELIZABETH, IT'S GREAT TO HAVE YOU ON THIS BREAKING STORY TODAY. PRESIDENT OF THE CONSTITUTIONAL ACCOUNTABILITY CENTER, THANKS AS ALWAYS FOR THE INSIGHTS. COMING UP, WE'LL BE JOINED BY MATT GORMAN ON THE GROUND HERE IN MILWAUKEE IS OUR COVERAGE OF THE REPUBLICAN NATIONAL CONVENTION CONTINUES. THAT'S NEXT ON "BALANCE OF POWER," ON BLOOMBERG TV AND RADIO. JOE: THIS IS A SPECIAL BALANCE OF POWER, WERE LIVE FROM THE REPUBLICAN NATIONAL CONVENTION IN MILWAUKEE, WISCONSIN. THEY WON HAS BROUGHT NEWS, WE HAVE A TICKET, TRUMP-VANCE, MAYBE NOT A BIG SHOCKER. DONALD TRUMP DID WHAT WE ACTUALLY THOUGHT HE MIGHT DO THIS TIME, TAPPING THE SENATOR FROM OHIO. KAILEY: A 39-YEAR-OLD FELLOW POPULIST, IF YOU WILL, SOMEONE WHO HAS ONLY BEEN ACTIVE IN POLITICS FOR A FEW YEARS, BEGINNING WITH HIS SENATE RUN, HE TOOK THAT SEED IN JANUARY LAST YEAR AND NOW BOLTED ALMOST TO THE VERY TOP. HE IS JOINING DONALD TRUMP ON THE TICKET. JOE: WE SHOWED SOME IMAGES FROM THE FLOOR OF THE CONVENTION AS J.D. VANCE MADE HIS WAY INTO THE HALL TO THUNDEROUS APPLAUSE. MATT GORMAN, REPUBLICAN STRATEGIST, IT'S GREAT TO SEE YOU. THIS IS AN INTERESTING PICK IN THAT IT'S NOT A HUGE SURPRISE AS WE TRY TO FIGURE OUT WHAT THIS MEANS FOR THE TICKET. J.D. VANCE SAID THAT IF HE HAD BEEN MIKE PENCE 2021, HE WOULD NOT OF CERTIFIED THE ELECTION. HE SAID THAT JUSTIN FEBRUARY. FOR A LOT OF AMERICANS, THAT IS A DISQUALIFYING. MATT: HE IS SOMEONE MORE -- HE IS NOT AFRAID TO ANSWER THOSE QUESTION. HE'S A TREMENDOUS COMMUNICATOR AND SOMEONE WHO I THINK IS WILLING TO GO AND MAKE A CASE. LOOKING AT ONE OF THE X FACTOR'S, AND ANOTHER REASON TRUMP CHOSE HIM. KAILEY: HOW DOES IT TRANSLATE INTO ACTUAL VOTES? THIS IS ANOTHER WHITE MAN, HE IS YOUNGER, SO PERHAPS HE HAS THE YOUTH ELEMENT, BUT WHAT IS THE DEMOCRAT J.D. VANCE IS SUPPOSED TO ATTRACT THAT DONALD TRUMP DOESN'T ALREADY HAVE? MATT: I THINK THERE'S A CALCULATION THAT THEY FEEL STRONG ABOUT WHERE THEY ARE IN ARIZONA, IN THE SUNBELT, THAT'S WHY HE DIDN'T GO WITH RUBIO OR TIM SCOTT. THEY NEEDED SOME HELP IN THE REST BELT, AND THAT IS THE CALCULATION FROM FOLKS IN THE CAMPAIGN. JOE: LET'S PUT A FINER POINT ON THAT, BECAUSE THAT IS TROUBLE FOR JOE BIDEN. WHAT DOES THIS MEAN FOR UAW WORKERS IN PENNSYLVANIA AND IN MICHIGAN AND MAYBE EVEN THIS PLACE CALLED WISCONSIN. MATT: IT MEANS TO HAVE FAR MORE OF A VOICE IN THE VICE PRESIDENT'S MANSION AND THEY WOULD'VE HAD IN ALMOST ANY OTHER REPUBLICAN. KAILEY: IN SELECTING J.D. VANCE, YOU LEAVE OTHERS OFF THE TABLE THAT WERE ELIMINATED FROM THIS HIGH-STAKES VERSION OF THE APPRENTICE. DO YOU SEE A ROLE IN THE ADMINISTRATION IF TRUMP WERE TO WIN FOR DOUG BURGUM OR EVEN SENATOR MARCO RUBIO? WOULD IT BE ADVISABLE TO LEAVE A SENATE SEAT? MATT: I THINK IT WOULD BE CERTAINLY ADVISABLE. IT WOULD DEPEND ON WHAT THE ROLE OF THE PORTFOLIO IS. OBVIOUSLY BURGER HIM -- I THINK THEY WOULD DO WELL BY GOING IN THE CABINET THERE. JOE: WE UNDERSTAND DONALD TRUMP REWROTE HIS SPEECH FROM A HUMDINGER TO SOMETHING THAT WILL SOUND CONCILIATORY AND UNIFYING. JUST J.D. VANCE BRING THE RED MEAT ON WEDNESDAY NIGHTS ARE DONALD TRUMP CAN BE THE UNIFIER ON THURSDAY? MATT: I THINK THE KEY TO LOOK FOR IN J.D. VANCE IS SPEECH, HE'S GOING TO HIGHLIGHT NOT ONLY THE HILLBILLY ELEGY BUT HIS MILITARY, HE'S GOING TO BE THE FIRST, HE'S THE ONLY ONE OF THE FOUR NOMINEES THAT HAS MILITARY EXPERIENCE RIGHT NOW. I EXPECT MORE THAN ANYTHING ELSE, LISTEN FOR THAT IN THE SPEECH. KAILEY: HE IS A VENTURE CAPITALIST, HE HAS CLOSE TIES TO SILICON VALLEY. HOW MUCH IS THE ABILITY TO BRING IN THAT MONEY MATTER IN THIS CALCULUS FOR THE FROM CAMPAIGN? MATT: I THINK A HUGE AMOUNT. JD RAISED TREMENDOUS SUMS OF MONEY FOR THE TRUMP CAMPAIGN FROM A LOT OF THOSE SILICON VALLEY FOLKS. HE CAN GO INTO MIDDLETOWN OHIO OR EASTERN KENTUCKY AND TALK WITH HOMETOWN FOLKS THERE. AS YOU KNOW, HE CAN GO INTO SILICON VALLEY AND TALK WITH THE PETER THIEL'S AND DAVID AXIS OF THE WORLD SO HE CAN MIX THOSE WORLDS IN A WAY THAT A LOT OF OTHER PEOPLE AROUND THE TABLE COULD NOT. JOE: NO ONE IS TALKING ABOUT BEING A VETERAN AND HOW LITTLE WE KNOW ABOUT J.D. VANCE. MATT: I KNOW THAT TRUMP HAS KEPT PEOPLE WAITING. I BELIEVE THIS HAS BEEN IN THE WORKS FOR LITTLE WHILE. WE SAW DON JR. ANNOUNCING -- THIS HAS BEEN IN THE WORKS FOR A WHILE. THAT MEANS THEY SHOULD BE READY AND I BELIEVE THAT WILL BE. BUT HOW DO-YEAR-OLD HIM OUT? THE DEMOCRATS ARE GOING TO BE EAGER TO DEFINE HIM. THE NEXT FEW DAYS WILL BE CRUCIAL. KAILEY: THE CONVERSATION WE WERE HAVING WAS WHETHER OR NOT JOE BIDEN WAS ULTIMATELY GOING TO BE THE DEMOCRATIC NOMINEE. COULD THE TRUMP-VANCE TICKET DO AS WELL AGAINST THE DEMOCRATIC TICKET? MATT: YOU TALKED ABOUT WHAT TRUMP HAS DONE IN THE AFTERMATH OF THE SHOOTING. BIDEN SOLIDIFIED HIS FUTURE AS THE DEMOCRATIC NOMINEE AT THE TOP OF THE TICKET. IT'S A RARE SCENARIO, I DON'T SEE THAT TALK FOR LITTLE WHILE AT LEAST UNLESS SOMETHING HAPPENS. JOE: REALLY GREAT TO HAVE YOU WITH US AS PART OF OUR SPECIAL COVERAGE HERE ON BLOOMBERG TV AND RADIO. COMING UP, PRESIDENT BIDEN AND HIS EFFORTS AT COUNTER PROGRAMMING THE RNC. WE CONTINUE OUR SPECIAL COVERAGE OF THE REPUBLICAN NATIONAL CONVENTION, LIVE FROM MILWAUKEE. THIS IS "BALANCE OF POWER," ON BLOOMBERG TV AND RADIO. > > WE MUST NOT GO DOWN THIS ROAD IN AMERICA. THERE IS NO PLACE IN AMERICA FOR THIS KIND OF VIOLENCE, EVER. WE CANNOT NORMALIZE THIS. RIGHT NOW, THE MOST IMPORTANT THING WE CAN DO IS UNITE AGAINST THIS TYPE OF POLITICAL VIOLENCE AND REJECT IT. THAT'S WHAT THE PRESIDENT IS GOING TO FOCUS ON. KAILEY: THAT WAS THE WHITE HOUSE PRESS SECRETARY EARLIER TODAY CONDEMNING THE ATTEMPT ON THE LIFE OF FORMER PRESIDENT TRUMP OVER THE WEEKEND, AS THE RNC GETS UNDERWAY HERE IN MILWAUKEE TODAY. PRESIDENT BIDEN SAID TO COUNTER PROGRAM LATER THIS EVENING. JOINING US IS OUR PANEL. OBVIOUSLY JUST IN THE LAST THREE DAYS, SO MUCH HAS CHANGED. NOT ONLY WAS OF THE SHOOTING IN WHICH DONALD TRUMP WAS INJURED IN AN ATTEMPT ON HIS LIFE. NOW HE HAS A VICE PRESIDENTIAL PICK. HOW DOES THE BIDEN CAMPAIGN NEED TO CHANGE WITH THAT? > > I THINK A PRESIDENT IS GOING TO CONTINUE HIS MESSAGE OF UNITY, LOOKING AT THE SECRET SERVICE AND HAVING WHAT HAPPENED IN PENNSYLVANIA INVESTIGATED. I THINK THE NOMINATION OF J.D. VANCE IS SOMETHING WE WILL HEAR THE PRESIDENT AND HIS SURROGATES AND HIS TEAM TALK ABOUT, BECAUSE THAT BRINGS THE BIDEN TEAM BACK TO WHERE THEY WANT TO BE, WHICH IS ON POLICY. THEY WANT TO MAKE THE CASE ON ABORTION ALONE THAT J.D. VANCE WANTS TO BAN ABORTION. HE HAS APPLAUDED THE DOBBS DECISION. THESE ARE THINGS I DON'T THINK APPEAL TO THE GENERAL PUBLIC, SO THAT IS A GOOD SIGN FOR THEM IF THEY CAN GET BACK THERE, BUT THEY WILL STILL HAVE TO CONTEND WITH THE AGE ISSUE, AND THAT IS SOMETHING THAT HAS TROUBLED THEM FOR A LONG TIME. JOE: AS A 39 YEAR OLD ENTERS THE RACE FOR PRESIDENT. J.D. VANCE AS RECENTLY AS FEBRUARY HAS SAID HE WOULD NOT HAVE CERTIFIED THE ELECTION IF HE HAD MIKE PENCE'S JOB. HOW SHOULD THE CAMPAIGN PRESENT THAT,? ? OR IS THAT THE POINT > > I THINK THAT PROVES THAT DONALD TRUMP GOT WHAT HE WANTED, WHICH IS SOMEONE JUST LIKE HIM. THIS IS THE FUTURE OF MAGA. WE WERE ALWAYS WONDERING WHO WOULD BE THE NEXT DONALD TRUMP, NOW WE'VE GOT HIM, VICE PRESIDENT J.D. VANCE. I THINK THAT MOVEMENT IS NOW IN THEIR MIND SECURE FOR DECADES TO COME. AND WHAT IMPLICATIONS THAT IS FOR THE REPUBLICAN PARTY AND HOW THEY ARE ABLE TO REACH OUT ACROSS THE AISLE TO PEOPLE WHO THOUGHT FRANKLY THAT THE ELECTION DID NIHILISM WAS A WASTE OF TIME AND CUT ACROSS THEIR APPEAL IN SUBURBS IN PLACES LIKE THAT. MY GUESS IS THEY WILL PROBABLY TAMP IT DOWN. YOU DON'T HEAR ANYTHING ABOUT IT IN THIS CONVENTION SO FAR. NO ONE IS GIVING SPEECHES ABOUT HOW THE ELECTION WAS STOLEN. I'LL BET YOU A NICKEL THAT DONALD TRUMP DOESN'T SAY ONE WORD OF IT IN HIS SPEECH ON THURSDAY NIGHT. SO THE QUESTION IS, HAS THAT PAGE BEEN TURNED IN THE MAGA MOVEMENT, AND WHERE TO GO FROM HERE? KAILEY: IF YOU'RE CAMPAIGNING AGAINST DOUBLEMAGA, WITH THAT BE MORE ADVANTAGEOUS FOR THE DEMOCRATIC TICKET? OR IF THEY CHANGE THE RHETORIC, IS IT NOT ULTIMATELY GOING TO MATTER? > > I THINK MOST OF THE DEMOCRATS ARE WORRIED ABOUT HOW THEY ARE WAGING THEIR CAMPAIGN, NOT HOW THE REPUBLICANS ARE. IT IS AN IMMENSE OBLIGATION BY THE DEMOCRATS TO TRY TO GET THEM BACK ON TRACK, AND NOTHING'S HAPPENED IN THE LAST TWO WEEKS SINCE THE DEBATE THAT ACTUALLY HAS HELPED JOE BIDEN DO THAT. SO THEY'VE GOT THEIR OWN SYSTEMIC PROBLEMS WITH THE CAMPAIGN FOR PRESIDENT THAT ARE NOW SHOWING UP IN A LOT OF OTHER PLACES. I WOULD SAY TODAY, I'VE GOTTEN A NUMBER OF CALLS FROM PEOPLE IN OHIO WHO SAY THIS COULD PUT MARTY MARINO'S CAMPAIGN IN HIGH GEAR, SHERROD BROWN WITH THE PROBLEM ON THEIR ELECTION. I THINK A LOT OF PEOPLE HAVE BEEN THINKING THROUGH THE J.D. VANCE SELECTION AND SAYING THIS COULD BE GOOD FOR THE CHANCES TO PICK UP THE SENATE. JOE: JOE BIDEN'S INTERVIEW IS TONIGHT, DESSIE COUNTER PROGRAM RNC ALL WEEK? > > I THINK YOU SHOULD. RICK SAYS HE SHOULD TAKE A STEP BACK AND LET THE REPUBLICANS DO THEIR THING. IF I WAS ADVISING HIM, I DON'T THINK HE HAS THAT LUXURY. HE'S GOT TO BE OUT THERE. HE'S GOT TO NORMALIZE THE IDEA THAT HE CAN GO IN PUBLIC UNSCRIPTED WITHOUT A TELEPROMPTER AND TALK. HE'S GOT TO JUXTAPOSE THIS CAMPAIGN TO THAT OF DONALD TRUMP AND J.D. VANCE, AND WE GET TO LOOK FORWARD TO A HARRIS-VANCE DEBATE AT SOME POINT. JOE: I SMELL ANOTHER SPECIAL. GREAT CONVERSATION ON DAY ONE OF THE REPUBLICAN NATIONAL CONVENTION. WE THANK YOU FOR JOINING US IN OUR SPECIAL COVERAGE LIVE FROM MILWAUKEE. THIS IS BALANCE OF POWER.

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Balance of Power 07/15/24

"Balance of Power" focuses on the intersection of politics and global business. On the show today, Gov. Brian Kemp (R) Georgia discusses former President Trump selecting JD Vance as his running mate and says he brings an element of youth. Rep. Brad Wenstrup (R) Ohio says he "loves the pick" of JD Vance as former President Trump's running mate and says he would be so helpful as Vice President. Elizabeth Wydra, President of the Constitutional Accountability Center, shares her insights on Special Counsel Jack Smith appealing the decision by Florida judge Aileen Cannon to dismiss the Trump classified documents case. (Source: Bloomberg)