Trump Open to Putin-Xi Talks Without Zelenskyy, Early Voting Underway for Majority of US

>> THIS IS FROM WASHINGTON, D.C.. -- BALANCE OF POWER FROM WASHINGTON, D.C. >> UKRAINE SAYS IT RECEIVES NO ONE FROM THE U.S. BEFORE ANOTHER MAJOR RUSSIAN ATTACK ON ITS POWER GRID AS TENSIONS BETWEEN KYIV AND WASHINGTON DEEPEN. PRESIDENT ZELENSKYY ACCUSING PRESIDENT TRUMP OF PRESSURING UKRAINE RATHER THAN RUSSIA TO YIELD AND VLADIMIR PUTIN PROPOSING A SUMMIT WITH XI JINPING TO END THE CONFLICT WITHOUT UKRAINE AT THE TABLE. PRES. TRUMP: I WOULD DO IT. NOT SO MUCH FOR UKRAINE. BECAUSE RUSSIA, FRANKLY, HAS BEEN FINE ON UKRAINE. THEY HAVEN'T BEEN DOING MUCH. SAME WITH CHINA. WE HAPPEN TO TALK ABOUT NUCLEAR WEAPONS. JOE: 15 DAYS, EARLY VOTING IN TEXAS BEGINNING WITH MORE THAN 500 MILLION DOLLARS ALREADY SPENT ON ADVERTISING IN THE SENATE RACE BETWEEN JAMES TALARICO AND KEN PAXTON WITH THE BATTLE FOR CONGRESS ENTERING ITS FINAL STRETCH. WE WILL TALK CONGRESSIONAL CONTROL WITH NICOLE OF NEW YORK. FRANCE ON EDGE. CURFEW IN EFFECT IN PARTS OF PARIS AFTER A WEEKEND OF NATIONWIDE PROTESTS ACROSS FRANCE SAW VANDALISM AND LOOTING. ECONOMIC FRUSTRATION SPILLING INTO THE STREETS. ADDING PRESSURE ON THE FRENCH GOVERNMENT. FROM BLOOMBERG'S WASHINGTON, D.C. STUDIO TO OUR TV AND RADIO AUDIENCE WORLDWIDE, WELCOME TO BALANCE OF POWER. I AM JOE MATHIEU ALONGSIDE KAILEY LEINZ. >> JUST 15 DAYS TO GO UNTIL ELECTION DAY AND PRESIDENT TRUMP BACK ON THE CAMPAIGN TRAIL HEADING TO KANSAS IN A BID TO BOOST REPUBLICAN SENATOR ROGER MARSHALL IN A CLOSER THAN ANTICIPATED RATES. KANSAS KICKING OFF A WEEK LONG TRUMP VISITS TO STATES HE CARRIED IN PLENTY FOR ME FOR INCLUDING NORTH AND SOUTH CAROLINA, IOWA, FLORIDA, GEORGIA, AND MICHIGAN. AS MAJOR STATE LIKE TEXAS BEGINNER EARLY VOTING CUT -- BEGIN EARLY VOTING, A MAJORITY OF AMERICANS LIVE IN STATES WHERE EARLY VOTING IS UNDERWAY WITH MORE SET TO JOIN BY THE END OF THE WEEK. LET'S GO TO KATE SULLIVAN WHO IS AT THE WHITE HOUSE. WHAT IS THE MESSAGE THE PRESIDENT WILL BE BRINGING TO KANSAS AND ALL OF THESE STATES THIS WEEK? >> TRUMP IS ON AIR FORCE ONE HEADED TO KANSAS FOR YET ANOTHER CAMPAIGN RALLY. PART OF THIS MONT BLANC BLITZ AHEAD OF THE MIDTERM ELECTIONS. HE CONTINUES TO GO TO OVERWHELMINGLY RELIABLY, TYPICALL Y RED STATES, STATES HE WON BY DOUBLE DIGITS IN 2024. HE'S CAMPAIGN WITH SENATOR ROGER MARSHALL WHO IS FACING A TOUGHER THAN EXPECTED CAMPAIGN. PARTICULARLY NOTABLE BECAUSE REPUBLICANS HAVE HELD BOTH SENATE SEATS IN KANSAS FOR MORE THAN A CENTURY SO THIS IS REALLY EMBLEMATIC OF THE GRIM REALITY THAT REPUBLICANS ARE FACING RIGHT NOW IN KANSAS BUT OF COURSE ALSO ACROSS THE COUNTRY AND THERE'S A LOT OF ANXIETY THAT A LOT OF REPUBLICAN CANDIDATES ARE FEELING HEADING INTO THE MIDTERM ELECTIONS. AFTER KANSAS IS GOING TO NORTH AND SOUTH CAROLINA, HE'S GOING TO IOWA, FLORIDA, GEORGIA. A LOT OF CAMPAIGN STOPS TO GO BEFORE ANOTHER RECORD. JOE: WE ARE LOOKING ON BLOOMBERG TV. SEVEN STOPS IN SEVEN DAYS FOR THE PRESIDENT. WE HAVE JD VANCE ON THE TRAIL. NORTH CAROLINA, OHIO, NEBRASKA. WHAT ARE YOU HEARING ABOUT THE CABINET FANNING OUT THESE LAST TWO WEEKS? >> THE PRESIDENT IS ON THE CAMPAIGN TRAIL IN NORTH CAROLINA. WE ARE SEEING FANS REALLY UPPING HIS TRAVEL A LOT AND A LOT OF CABINET SECRETARIES ARE ALSO ON THE CAMPAIGN TRAIL. SEEING A LOT OF PEOPLE TRYING TO PUSH THE PRESIDENT'S MESSAGING, TRYING TO GET OUT THERE AS THE PRESIDENT'S POLL NUMBERS ARE REALLY LACKING AND POLLS ARE SHOWING AMERICANS ARE FEELING A LOT OF ECONOMIC ANXIETY, REALLY FEELING THE HIGH COST OF LIVING. THIS WAR IN IRAN IS PUSHING UP GAS PRICES AND DIESEL PRICES. YOU ARE SEEING A LOT OF CABINET SECRETARIES AS WELL AS THE VICE PRESIDENT AND THE PRESIDENT TRYING TO PUSH A MESSAGE THAT THINGS WERE WORSE HUNTER BIDEN. THINGS ARE ACTUALLY BETTER THAN PEOPLE FEEL. >> THANK YOU SO MUCH. WITH THE SOUNDS OF THE BALLROOM CONSTRUCTION, KATE SULLIVAN ON THE NORTH LINE THIS EVENING. PRESIDENT TRUMP'S FEUD WITH RESIDENT ZELENSKYY TAKING ANOTHER TURN TODAY. WITH THE FUTURE OF THE RELATIONSHIP BETWEEN THE COUNTRIES INCREASINGLY UNCERTAIN. PRES. TRUMP: ZELENSKYY DOESN'T KNOW WHAT HE'S TALKING ABOUT. ZELENSKYY IS A MAN THAT SHOULD HAVE HAD THIS WAR SETTLED A LONG TIME AGO. HE WOULD HAVE MADE A MUCH BETTER DEAL A LONG TIME AGO AND IT WOULD HAVE A MILLION PEOPLE LIVING FROM HIS SIDE. IT'S TIME FOR SOMEBODY ELSE TO NEGOTIATE ON BEHALF OF UKRAINE. JOE: HE WOULD ATTEND A TRILATERAL MEETING WITH RUSSIA AND CHINA AND THAT THE U.S. HE SAID IS STILL SHARING INTELLIGENCE WITH UKRAINE. JOINING US, WENDY BENJAMINSON WHO HELPED TO RUN OUR NATIONAL SECURITY COVERAGE IN WASHINGTON. HE SPOKE WITH LE MAIRE DELICT -- LE MAIRE ZELENSKYY AND SAID THE PRESIDENT IS PUSHING UKRAINE, NOT PUT IN, TO YIELD. IS HE RIGHT? WHAT EARLIER IN THAT SAME INTERVIEW OUTSIDE, TRUMP SAID RUSSIA IS DOING FINE WITH UKRAINE. AND YET THEY BOMBED KYIV OVERNIGHT AND OVER THE WEEKEND. HE HAS MADE THE DEAL -- THE DIESEL DEAL WITH RUSSIA THAT THEY CAN EXPORT THEIR DIESEL DESPITE SANCTIONS. HE HAS WAIVED TARIFFS ON COUNTRIES WHO BUY CRUDE. NOW, HE -- APPARENTLY, LAST WEEK, WE SAW THERE WAS TROUBLE WITH STARLINK AND STAR SHIELD. HE COULD NOT GET FOOD AND SUPPLIES TO TROOPS ON THE FRONT LINE. THE UKRAINIANS GOT NO EARLY MORNING SO WE -- IT JUST SEEMS LIKE THE TRUMP ADMINISTRATION HAS JUST GIVEN UP ON UKRAINE AND IS FULLY EMBRACING RUSSIA AT THIS POINT. KAILEY: THAT IS ONE HOT AREA OF CONFLICT. WE GOT NEWS THAT THE FUTURE INVESTMENT INITIATIVE THAT WAS SUPPOSED TO BE HELD NEXT WEEK IS GOING TO BE PUSHED INTO 2027 IN PART DUE TO SECURITY CONCERNS. THE AIRPORT IN RIYADH IS FUNCTIONAL AT THIS POINT. WHAT DOES THIS TELL US ABOUT THE CURRENT INSTABILITY IN THE REGION STEMMING FROM THE CONFLICT BETWEEN THEM? >> THIS IS A DISTURBING EXPANSION. AMERICA HAS A LONG HISTORY OF STARTING WARS IN THE MIDDLE EAST AND THEN WASHING THEM EXPAND OUT OF THEIR CONTROL. THAT IS WHAT IS HAPPENING HERE. THE U.S. AND ISRAEL STARTED THE WAR IN IRAN WITH THE IDEA THAT THAT WOULD BE A WAY TO STOP THEIR NUCLEAR PROGRAM BASED ON FALSE INFORMATION. WE ALL HEARD THIS BEFORE ABOUT WARS IN THE MIDDLE EAST AND NOW THE IRAN BACKED HOUTHIES ARE FIGHTING THE SAUDI'S. THEY MADE THE COUNTRY SO UNSTABLE THAT THEY HAD TO CANCEL THIS SORT OF THING WITH THE CONFERENCE COMING UP AND THIS IS HURTING SAUDI ARABIA AND TRUMP DOESN'T SEEM INCLINED TO HELP SAUDI ARABIA AFTER THE RELATIONSHIP AT LEAST ON THE BUSINESS FRONT. >> WENDY BENJAMINSON, THANK YOU SO MUCH. JOINING US NOW FOR MORE IS CONGRESSWOMAN NICOLE OF NEW YORK, A MEMBER OF THE HOUSE WAYS AND MEANS COMMITTEE AND ASSISTANT WHIP FOR THE HOUSE REPUBLICAN CONFERENCE CHAIR. WELCOME BACK TO BLOOMBERG. YOU ALSO REPRESENT A DISTRICT THAT HAS ONE OF THE HIGHEST CONCENTRATIONS OF UKRAINIAN AMERICANS IN THE COUNTRY. I BELIEVE SOME 14,000 PEOPLE. WHAT ARE YOU HEARING FROM THOSE CONSTITUENTS ABOUT THE BREAKDOWN WE HAVE SEEN FROM PRESIDENT AND VOLODYMYR ZELENSKYY? >> I REPRESENT A LARGE UKRAINIAN POPULATION AND PEOPLE WHO FLED RUSSIA. SO I THINK THERE'S A LOT OF CONFUSION AND A LOT OF PEOPLE WHO DON'T KNOW WHAT TO THINK RIGHT NOW. I THINK MANY THINK THAT IF THERE'S GOING TO BE SOME TYPE OF SANCTIONS RELIEF THAT THAT SHOULD COME WITH SOME TYPE OF CEASE-FIRE OR SOME TYPE OF AGREEMENT THAT THEY WOULD BE STOPPING TO ATTACK UKRAINE'S ENERGY INFRASTRUCTURE. SADLY, THAT IS NOT WHAT HAS HAPPENED OVER THE LAST FEW DAYS. WE HAVE SEEN MORE ENERGY INFRASTRUCTURE AND A HOSPITAL CLINIC AND THE SCHOOL ATTACKED OVER THE LAST FEW DAYS SO THERE'S A LOT OF CONFUSION AS TO WHY THIS SHARP TURN THAT WE ARE SEEING FROM THE PRESIDENT, I UNDERSTAND HE IS VERY MUCH FOCUSED ON DIESEL, TRYING TO BUILD DOWN THOSE PRICES. LAST TIME I WAS WISH YOU -- WITH YOU, WE TALKED ABOUT THE POTENTIAL OF THE U.S. DOING AN EXPORT BAN AND THE BOOMERANG EFFECT THAT COULD HAVE ON GLOBAL SUPPLY SO I THINK TRYING TO GET PUTIN TO END ITS EXPORT BAN IS A MAJOR PART OF THIS BECAUSE HE SEES THAT WILL DRIVE DOWN GLOBAL SUPPLY AND THE PRICES FOR DIESEL WHICH IS UPSETTING SO MANY FARMERS AND BEING PASSED ON TO CONSUMERS IN TERMS OF FOOD COSTS. IT'S HARD TO KNOW EXACTLY WITHOUT SEEING ALL THE DETAILS WHAT THE ENDGAME IS HERE. KNOWING PRESIDENT TRUMP, HE'S JUST TRYING TO DO WHAT HE CAN TO GET ANOTHER OPENING TO FOR SOME TYPE OF NEGOTIATION OR CONVERSATION BECAUSE EVERYTHING HAS JUST BEEN SO BAD IN THE ENTIRE AREA AND ATTACKING EACH OTHER'S ENERGY INFRASTRUCTURE HAS BEEN GOING ON TO A SOUP EAT -- A SEVERE POINT WHERE IT HAD AN IMPACT ON ENERGY PRICES ACROSS WORLD. >> IT'S GOOD TO HAVE YOU BACK. THE CONVENTIONAL WISDOM IS VOTERS, PARTICULARLY IN THE MIDTERM CYCLE, ARE NOT BASING THEIR DECISIONS WHEN IT COMES TO VOTING ON GEOPOLITICS, ON FOREIGN AFFAIRS. DO YOU WORRY IT COULD BE DIFFERENT THIS TIME, KNOWING THE DIRECT CONNECTION THIS STORY IS HAVING ON ENERGY PRICES? >> PARTIALLY, I THINK PEOPLE DO SEE THAT THE CONFLICT IN IRAN HAS BEEN A LEADING FACTOR AS TO WHY WE HAVE SEEN ENERGY PRICES INCREASE. A LOT OF PEOPLE ARE ALSO FOCUSED LOCALLY INTO SEEING WHEN THEY LOOK AT THEIR ELECTRIC BILL, IT'S NOT WHAT IS HAPPENING IN IRAN BUT A COMBINATION OF STATE POLICIES AND TAXES WHICH MAKE UP 30% OF YOUR UTILITY BILL IN NEW YORK. 26% OF THE ELECTRICITY SUPPLY AND WE ARE SEEING OTHER ANTI-ENERGY POLICIES. THE GOVERNOR REFUSING TO ALLOW GAS PLANTS IN OUR STATE TO EXPAND. THIS IS -- THIS HAS ALL BEEN A CONTRIBUTING FACTOR AND THAT IS WHY NEW YORK STATE PAID 60% MORE FOR ELECTRICITY THAN THE REST OF THE COUNTRY SO THEY ARE LOOKING AT THE IRAN CONFLICT WHEN IT COMES TO GAS PRICES. THERE IS A LOT MORE GOING ON BY THE CITY AND THE STATE THAT IS IMPACTING THEIR UTILITY BILLS AND EVERYDAY COSTS. WITH THE GAS PRICES, THEY HAVE COME DOWN. $.50 DECREASE SINCE THE BEGINNING OF THIS CONFLICT IN THE SPRING SO THAT IS PROMISING. SECRETARY CHRIS WRIGHT CAME OUT AND SAID 80% OF THE OIL FLOW FROM THE PERSIAN GULF IS NOW 80% OF THE PRE-CONFLICT FLOW IS NOW BEING SEEN IN THE AREA SO THAT IS GOOD. IT IS ALL PROMISING AND I DO THINK PERHAPS IRAN IS PLAYING A LITTLE BIT OF A GAME HERE AND AFTER THE ELECTION IS OVER, WE WILL SEE GAS PRICES COME DOWN SIGNIFICANTLY. >> AS WE THINK ABOUT THE HIGHER GAS PRICES PEOPLE HAVE BEEN FEELING, THERE'S BEEN A NUMBER OF STUDIES DONE ABOUT HOW THE BENEFIT OF THE ONE BIG BEAUTIFUL BILL AND THE HIGHER TAX RETURNS PEOPLE RECEIVED WERE ERODED BY THE FACT THAT PEOPLE HAVE HAD TO PAY MORE AT THE PUMP AND I WONDER IN THIS FINAL STRETCH OF THE MIDTERMS AS REPUBLICANS PITCH TO MAINTAIN MAJORITIES IN BOTH THE HOUSE AND SENATE IF THERE IS FURTHER TAX OFFERINGS THAT YOU CAN MAKE TO THE AMERICAN PEOPLE. PRESIDENT TRUMP HAS OFFERED $5,000 CHECKS IF THE MAJORITIES ARE CAPPED BUT WOULD YOU EXPECT ACTUAL WORK TO BE DONE IN THE WAYS AND MEANS COMMITTEE OF REPUBLICANS HOLD A MAJORITY TO CUT TAXES FURTHER AND WHERE? >> ABSOLUTELY. WE HAD A FIELD HEARING TALKING ABOUT THE EFFECTS OF THE BIG BEAUTIFUL BILL AND HOW PROMISING IT HAS BEEN IN TERMS OF GDP GROWTH AND SEEING BUSINESSES BEING ABLE TO REINVEST AND TO BUY NEW EQUIPMENT AND TO HIRE NEW PEOPLE SO THAT HAS ALL BEEN POSITIVE. WE SAW THE GDP GROW OVER 4% IN THE FIRST QUARTER FOLLOWING SIGNING OF THE BILL AND WE ARE SEEING TRILLIONS OF DOLLARS IN FOREIGN INVESTMENT COMING INTO THE UNITED STATES PARTICULARLY WHEN IT COMES TO THE TECH INDUSTRY SO THAT -- THE POSITIVE THING. WHAT WE NEED TO DO IS EXPLAIN TO THE AMERICAN PEOPLE THAT HAD WE NOT THEN IN CONTROL, THE DEMOCRATS WOULD HAVE ALLOWED FOR A 4 TRILLION TO $5 TRILLION TAX INCREASE. THEY WERE IN THE INITIAL TAX LEGISLATION. THEY WOULD HAVE HYPED TAXES AS WELL. WE ARE GOING OUT THERE WITH OUR MESSAGE. WE WERE THE ONES THAT EXPANDED THE CHILD TAX CREDIT THAT QUADRUPLED THE DEDUCTION FOR STATES LIKE MINE THAT HAVE HIGH TAXES AND WE WERE ALSO THE ONES WHO DELIVERED ON NO TAX ON T IPS. SO WE DID PUT MORE MONEY IN THE POCKETS OF THE AMERICAN PEOPLE, WORKING FAMILIES, AND SENIOR CITIZENS. GOING FORWARD, WHAT CAN WE DO? I WOULD LOVE TO SEE THE CAPITAL GAINS TAX BE LOOKED AT IN TERMS OF AN EXEMPTION. MAKING THAT EXEMPTION GREATER. WHEN PEOPLE SELL THEIR HOMES, THEY ARE NOT GETTING HIT WITH A BIG TAX BILL AND EQUITY THEY BUILD IN THEIR HOMES, PARTICULARLY AS SENIOR CITIZENS WHO THAT IS THERE A MISTAKE. THEY ARE AFRAID TO SELL AND DON'T WANT TO SELL BECAUSE THEY ARE GOING TO GET HIT WITH THE BIG TAX BILL AND IT'S DISCOURAGING PEOPLE FROM DOWNSIZING AND ALLOWING THE HOUSING STOCK TO OPEN UP FOR NEW FAMILIES SO THAT IS A BIG ONE. WE CAN ADDRESS IT. >> YOU WILL HAVE AN OPPORTUNITY TO DEAL WITH THE DEBT LIMIT AS REPUBLICANS IF DEMOCRATS WERE TO TAKE THE MAJORITY IN THE NEXT CONGRESS. DO YOU SEIZE ON THAT OPPORTUNITY NOW? THIS IS SOMETHING WE HAVE BEEN ASKED ABOUT ALLOWED BY OUR CONGRESS. WHAT'S WE WILL SEE WHAT WE CAN GET. WE HAVE DONE IT BEFORE. I THINK THE ISSUE IS ALSO A WAY TO ADDRESS THE DEAD AND THAT IS WHY WE ARE SO FOCUSED ON SO MUCH OF THE FRAUD AND THE ABUSE IN MANY OF OUR GOVERNMENT PROGRAMS AND WE HAVE BEEN ABLE TO HIGHLIGHT SO MUCH OF THAT. $100 BILLION A YEAR IN MEDICARE AND MEDICAID ALONE. NEW YORK IS ONE OF THE WORST PERPETRATORS OF THAT TYPE OF FRAUD. YOU READ ABOUT IT REGULARLY IN THE NEWS AND SADLY, THE DEMOCRATS DON'T WANT ANY CHECKS AND BALANCES. THEY DON'T WANT ANY WORK REQUIREMENTS. THEY DON'T WANT TO CHARGE THEM IN MANY CASES AND GO AFTER THEM. THEY ARE CONSTANTLY DEFENDING THE FRAUDSTERS WHICH IS A SAD SITUATION. I HAVE BEEN IN HEARINGS IN WAYS AND MEANS WHEN WE POINT OUT THIS TYPE OF FRAUD AND THEY ACCUSE US OF WANTING TO CUT THESE PROGRAMS ARE HARD-WORKING AMERICANS AND THAT IS ABSOLUTELY NOT THE CASE TO MAKE SURE THEY ARE PRESERVED AND WE DON'T BREAK THE BANK AND FURTHER OUR DEBT ISSUES BUT THAT WE SPEND MONEY RESPONSIBLY TO MAKE SURE OUR MOST VULNERABLE ARE THE ONES WHO ARE GETTING THESE BENEFITS, NOT THE PEOPLE WHO SHOULDN'T BE TRANSNATIONAL CRIMINAL ORGANIZATIONS THAT WE KNOW HAVE BEEN BAD PERPETRATORS. >> JUST TO BE CLEAR, WOULD YOU VOTE TO RAISE THE DEBT CEILING NOW AS OPPOSED TO ALLOWING DEMOCRATS TO MANAGE THAT PROCESS? >> LOOK, THIS IS A CONVERSATION WE WOULD HAVE TO HAVE AFTER THE INTERN -- AFTER THE MIDTERM. I'M OPEN TO ANYTHING. WHATEVER WE CAN DO NOW, I THINK WE SHOULD DO NOW SIMPLY BECAUSE I DON'T REALLY TRUST THE OTHER SIDE TO DO THE RIGHT THING BUT I THINK IT'S A MUCH LARGER DISCUSSION THAT IS GOING TO HAVE TO COME WITH A MUCH LARGER DISCUSSION ABOUT WRITING AND SPENDING AND IF WE CAN GET SOMETHING LIKE THAT WITH THE REPUBLICANS IN CONTROL, THAT IS THE MOST RESPONSIBLE THING TO MOVE FORWARD. >> CONGRESSWOMAN, WE APPRECIATE YOU JOINING US. THAT IS NICOLE OF NEW YORK. THANK YOU. STILL AHEAD, THE GROWING AI ANXIETY IMPACTING VOTERS ACROSS THE COUNTRY THAT CAMPAIGNS ARE TRYING TO SEIZE ON AHEAD OF THE MIDTERMS. ED LUDLOW HAS THAT REPORT FOR US, UP NEXT ON BALANCE OF POWER ON BLOOMBERG TV AND RADIO. ♪ >> THERE IS NOTHING TO REGULATE. IF THE INDUSTRY DOESN'T THRIVE. YOU WANT THE GERMAN AI INDUSTRY TO THRIVE AS WELL AS DO IT SAFELY, RESPONSIBLY. I THINK THE BALANCE IS REALLY IMPORTANT TO DO SO I THINK THE ANSWER IS WE KNOW THERE IS TECHNOLOGY WE CAN INVENT AND DEPLOY TO HAVE AI SAFETY. WE KNOW THAT THERE ARE BEST PRACTICES WE CAN ADHERE TO AS COMPANIES AND INDUSTRIES AND THAT IN ADDITION TO THAT IF NECESSARY, WE WILL MAKE SURE WE REGULATE IT. KAILEY: THIS IS BALANCE OF POWER ON BLOOMBERG TV AND RADIO. I AM KAILEY LEINZ. THAT WAS JENSEN HUANG CALLING ON THE WORLD TO FIND THE RIGHT BALANCE BETWEEN DEVELOPING AI AND MAKING SURE THE INDUSTRY HAS A RIGHT GUARDRAILS TO KEEP ITS SAFETY ON TRACK. HIS COMMENTS COMING AFTER A TURBULENT STRETCH FOR THE TECH SECTOR WITH CHIPMAKERS COMING UP THEIR LONGEST LOSING STREAK SINCE THE 2000 EIGHT FINANCIAL CRISIS. LET'S ELABORATE WITH POWER MOVE TODAY. IT WAS TECH THAT LED THE MARKET HIGHER WITH A GAIN OF .4% ON THE S&P 500 WHICH CLOSED BELOW THE 7700 LEVEL BUT THE OUTPERFORMANCE REALLY CAME FROM TECHNOLOGY IN CHIP STOCKS IN PARTICULAR WITH A LITTLE MORE THAN 1% GAIN ON THE NASDAQ 100 AND A1 POINT 6% GAIN ON THE PHILADELPHIA SEMICONDUCTOR'S INDEX. THE STOCKS COMING OFF THE WORST LOSING STREAK SINCE 2008, SOME $2.3 TRILLION WORTH OF VALUE WERE WIPED OUT OVER THE LOSING RUN, CLIMB BACK A LITTLE BIT OF THAT TODAY WITH ALMOST EVERY SINGLE MEMBER OF THE INDEX HIGHER ON THE DAY. CHIP NAMES LIKE QUALCOMM, AMD, MICRON ALL HIGHER ON THE DAY TO THE TUNE OF SOME 4% TO 3% DEPENDING ON THE STOCK. MICRON BY ABOUT 3%. YOU HAD NVIDIA UP AS WELL BY ABOUT 1.4% TODAY BUT OF COURSE A LOT COULD BE DRIVEN BY EARNINGS THAT ARE TAKING PLACE THIS WEEK. TESLA REPORTING ON WEDNESDAY, FOR EXAMPLE AND SPACEX REPORTING THIS WEEK ACCOMPANYING THE NEWS AS ELON MUSK IS PLEDGING ONE SPACEX SHARE OF HIS TO EVERY AMERICAN CHILD THROUGH THE TRUMP ACCOUNTS IN THE NEXT YEAR OR SO GETTING PRAISE FROM THE PRESIDENT FOR THAT. WE DID SEE UPWARD PRESSURE ON THE ISLANDS TODAY. THE 30 YEAR BY FOUR BASIS POINTS. 5.14% ON THE 10 YEAR WHERE WE TRADED ON THE DAY AND A LOT OF THAT WAS DRIVEN BY WHAT WAS HAPPENING OVERSEAS WITH THE SELLOFF IN THE FRENCH BROAD MARKET DUE TO ALL THE PROTESTS WE ARE SEEING ACROSS THE COUNTRY. UP ABOUT 13 BASIS POINTS ON THE DAY. AS FIXED INCOME MOVES, OIL IS MOVING IN TANDEM AND WE DID SEE SOME UPWARD PRESSURE ON WTI WHICH REMAINS A 1 -- AROUND THE 10 THREE AND CHANGE LEVEL. BRENT AROUND $109 A BARREL. JOE. JOE: SOME ARE CALLING THIS YEAR'S MIDTERMS THE FIRST TRUE AIE ELECTION. REMEMBER THE FIRST INTERNET ELECTION? IT IS SAFE TO SAY THIS WILL NOT BE THE LAST. FROM JOBS AND ENERGY TO THE TECHNOLOGY IT'S RAPIDLY GROWING PHYSICAL FOOTPRINT, HE, DATA CENTERS, AI IS FUELING SOME OF THE BIGGEST DEBATES ARE VOTERS ACROSS THE COUNTRY RIGHT NOW WITH EARLY VOTING UNDER, ED LUDLOW REPORTS ON HOW AI IS RESHAPING THIS YEAR'S MIDTERMS. >> THE AI ANXIETY HAS SPILLED PERHAPS INEVITABLY INTO THE MIDTERM ELECTIONS. EVEN AS THEY CREATED WEALTH, MANY AMERICANS REMAIN UNEASY ABOUT WHERE THE TECHNOLOGY IS TAKING THE ECONOMY AND SOCIETY. FIRST THERE WAS CONCERN OVER JOBS. A POLL FOUND ROUGHLY 70% OF REGISTERED VOTERS WERE CONCERNED AI COULD REPLACE THEIR LIVELIHOOD AND THERE ARE ALREADY SIGNS OF DISRUPTION. IN SOME OF THE OCCUPATIONS MOST EXPOSED TO THE TECHNOLOGY. HERE IS NINA RICHARDSON. >> SINCE THE ROLLOUT OF CHATGPT IN NOVEMBER OF 2022, THERE HAS BEEN A 20% DECLINE IN EARLY CAREER SOFTWARE DEVELOPERS. >> AI WILL HAVE AN IMPACT ON JOBS AND LABOR. WHAT WE SEE IS AN IMPACT OF 8% IN THE BASE CASE OVER THE NEXT FIVE TO 10 YEARS. >> MARKETS BEGAN FOCUSING ON ANOTHER SOURCE OF ANXIETY, MONEY. THE MASSIVE SPENDING BOOM, HUNDREDS OF BILLIONS OF DOLLARS FLOWING INTO CHIPS AND AI INFRASTRUCTURE RAISE QUESTIONS AMONG INVESTORS ABOUT A POTENTIAL AI BUBBLE. >> THAT CIRCULAR FINANCING NARRATIVE IS OUT THERE. EVERY DAY, YOU WAKE UP. >> AS THE CONCERNS CONVERGE WITH LOCAL WORRIES ABOUT THE COMMUNITY IMPACT OF THE DATA CENTERS, THE DEBATE MOVED BEYOND WHAT AI CAN DO TO JOBS AND MARKETS TO WHAT INCREASINGLY POWERFUL AI COULD DO TO HUMANITY ITSELF. THAT CONVERSATION EXPLODED AFTER AN ENTROPIC RESEARCHER RESIGNED, WARNING IN STARK TERMS ABOUT WHERE THE TECHNOLOGY COULD EVENTUALLY LEAD. SOME LIKE GREGG JENSEN SHARE THAT CONCERN. >> UNTIL THE AI STARTS KILLING PEOPLE. HISTORY WOULD SUGGEST WE ARE NOT GOING TO DO ANYTHING. >> OTHERS LIKE ANDREW SAID THE RHETORIC HAS GONE TOO FAR. >> THIS RECENT FEAR ABOUT AI LEADING HUMAN EXTINCTION IS MUCH MORE SCIENCE-FICTION THAN SCIENCE. >> THAT IS WHERE AI ANXIETY HAS COLLIDED DIRECTLY WITH POLITICS. TODD BLANCHE ARGUED THE TIMING OF THE INDUSTRY'S WARNINGS WAS POLITICAL. >> TO TALK ABOUT THE TIMING OF THIS AS BEING NOTHING BUT AN EFFORT TO INFLUENCE THE MIDTERMS, OF COURSE THAT IS WHAT IT IS AND THAT SHOULD NOT BE WHAT DRIVES THE DECISIONS THAT WE ARE MAKING AROUND AI. >> SOME OF THE BIGGEST NAMES ARE CALLING FOR MORE GUARDRAILS AND IN SOME CASES, A SLOWER PACE AT THE TECHNOLOGICAL FRONTIER WHICH PUTS PARTS OF SILICON VALLEY INCREASINGLY AT ODDS WITH THE WHITE HOUSE. DAVID SACKS, COCHAIR OF THE PRESIDENT COUNCIL ADVISES ON SCIENCE AND TECHNOLOGY. >> WE HAVE PLENTY OF REGULATIONS IF THE FRONTIER LAB RELEASE PRODUCTS THAT ARE UNSAFE AND AGAIN, I WOULD TURN IT BACK TO THEM. IT'S ON YOU GUYS TO MAKE SURE YOUR PRODUCTS ARE SAFE. >> WE ARE THE MOST SOPHISTICATED COUNTRY IN THE WORLD AND FRANKLY, I WANT TO KEEP IT THAT WAY BECAUSE WHOEVER WINDS AI WINDS AND WE COULD PUT GUARDRAILS AND DO THIS AND THAT BUT YOU HAVE A LOT OF NEGATIVE FORCES THAT SHOULD NOT BE BRINGING IT UP. >> THOSE WARNINGS ARE SO NEW THAT THEY HAVE NOT BECOME FODDER FOR MOST POLITICAL CAMPAIGNS BUT THERE ARE SIGNS THE ISSUE COULD RESONATE WITH VOTERS. A NEW POLL FOUND 71% SAY THEY ARE MORE LIKELY TO VOTE FOR A CANDIDATE WHO SUPPORTS STRICTER GUARDRAILS ON AI DEVELOPMENT. IT'S NO LONGER JUST A SILICON VALLEY STORY. ANXIETY OVER JOBS, MONEY, AND EVEN THE SAFETY OF THE TECHNOLOGY IS INCREASINGLY COLLIDING WITH A MUCH BIGGER POLITICAL QUESTION. HOW HARD SHOULD WASHINGTON PUSH THE ACCELERATOR ON AI AND HOW MUCH SHOULD IT HIT THE BRAKES? I AM ED LUDLOW IN SAN FRANCISCO. >> OUR THANKS FOR THAT REPORT. THERE IS MORE BALANCE OF POWER COMING OUT. JANE HARMAN JOINS NEXT ON BLOOMBERG TV AND RADIO. >> MY BIGGEST CONCERN IS THE UNDERESTIMATED RUSSIAN IMPACT ON OUR SOCIETIES. WHICH HAS TO DO WITH THE WAR IN UKRAINE. THIS IS ONLY A PART OF THE PICTURE. THE BIG PICTURE IS THAT RUSSIA IS ON THE WAY TO DESTABILIZE THE ENTIRE POLITICAL ORDER OF OUR EUROPEAN CONTINENT AND THIS IS OBVIOUSLY UNDERESTIMATED BY MANY PEOPLE IN MY COUNTRY AS WELL. >> WELCOME BACK TO BALANCE OF POWER ON BLOOMBERG TV AND RADIO. ALONGSIDE JOE MATHIEU, I AM KAILEY LEINZ. THAT WAS FRIEDRICH MERZ SPEAKING TO BLOOMBERG'S FRANCINE LACQUA ABOUT THE THREAT POSED BY RUSSIA BUT PRESIDENT TRUMP LAYING DOWN ANY SUCH THREAT, SUGGESTING HE WOULD BE WILLING TO MEET WITH LAMB LOOP -- VLADIMIR PUTIN AND XI JINPING FOR A SUMMIT HE SAYS WILL BE FOCUSED ON DENUCLEARIZATION RATHER THAN ENDING THE WAR IN UKRAINE, SAYING RUSSIA HAS BEEN FINE ON UKRAINE. HIS REMARKS COMING AS RUSSIA AND UKRAINE CONTINUE TO TARGET EACH OTHER'S ENERGY INFRASTRUCTURE AND WITH ZELENSKYY ALLEGING THE U.S. IS SLOWING STARLINK SERVICE AND INTERMITTENTLY RESTRICTING INTELLIGENCE SHARING. TRUMP ACCUSING ZELENSKYY OF PROLONGING THE FIGHTING, POSTING HE DOESN'T WANT TO END THIS WAR AND PROBABLY NEVER DID. FOR MORE, LET'S BRING IN JANE HARMAN, THE FORMER RANKING MEMBER OF THE HOUSE INTELLIGENCE COMMITTEE WHO IS HERE WITH US IN OUR STUDIO. WELCOME BACK. GOOD TO HAVE YOU. NICE TO GET YOUR IMPRESSION REACTION TO THE BREAKDOWN WE HAVE SEEN OVER THE LAST WEEK AND CHANGE. IT IS THE RELATIONSHIP GOING TO BE ABLE TO RECOVER FROM THIS? >> OUR FOREIGN AND SECURITY POLICIES ARE IN FREEFALL. I DON'T THINK WE HAVE A STRATEGY FOR UKRAINE OR THE MIDDLE EAST. I DON'T THINK WE KNOW HOW TO CONNECT THAT TO TAIWAN. DID WE FORGET ABOUT TAIWAN AND CHINA -- AND CHINA? I DO NOT UNDERSTAND WHAT IS IN THE PRESIDENT'S HEAD AND I THINK A TIPPING POINT AT LEAST FOR ME WAS THE SPEECH HE MADE IN THE WELL OF THE U.N. A FEW WEEKS AGO WHEN YOU AND GENERAL ASSEMBLY WAS MEETING WHERE HE SAID WE WOULD ANNIHILATE -- THAT WAS THE WORD -- ANNIHILATE IRAN IF THEY DIDN'T MAKE A DEAL. THAT WORD IS TERRIFYING BECAUSE THAT MEANS USING NUCLEAR POWER AND NOW HE WANTS SOME KIND OF NUCLEAR SUMMIT. IT MAKES NO SENSE THIS CLOSE TO THE ELECTION. MAKES NO SENSE EVEN AFTER THE ELECTION. JOE: IS LUCKILY ZELENSKYY -- LE MAIRE ZELENSKYY ON THE OUTS? HE SAID HE WOULD LIKE TO HAVE AN EMERGENCY MEETING. DOES HE GET A SIT DOWN WITH DRUM? WOULD IT MATTER IF HE DID? >> ZELENSKYY IS DOING THE BEST THAT HE CAN. WE TALK ABOUT CARDS. HIS CARDS WITH TRUMP ARE VERY POOR. HIS CARDS AGAINST THE RUSSIAN THREAT ARE PRETTY GOOD IF THE U.S. FOLLOWS THROUGH ON THE COMMITMENTS WE MADE FOREVER SINCE UKRAINE BECAME FREE. BY THE WAY, GIVING UKRAINE TO RUSSIA IF THAT IS WHAT TRENT IS TRYING TO DO MEANS TRYING TO GIVE -- TRUMP IS TRYING TO DO MEANS EUROPE IS UNDER THREAT BY THIS. I WAS JUST IN THE BALTICS AND LITHUANIA IS VERY CLOSE TO RUSSIA. THESE ARE AT TOTAL RISK IF SOMEHOW UKRAINE BECOMES OVERRUN BY RUSSIA. KAILEY: TALK TO US ABOUT THE ROLE OF ZELENSKYY HIMSELF BECAUSE PRESIDENT TRUMP SUGGESTED SOMEONE ELSE SHOULD BE NEGOTIATING ON BEHALF OF UKRAINE. DO YOU HAVE REASON TO BELIEVE ANY OF UKRAINIAN WOULD BE WILLING TO ACQUIESCE TO MORE SO THAN ZELENSKYY TO CEDE THINGS LIKE THEIR OWN SOVEREIGN TERRITORY? JANE: NO, I THINK SOLESKY IS A HERO AND HAS BEEN INCREDIBLY BRAVE AND THE REAL WEAPON IN THIS FOREGOING FIVE-YEAR WAR -- WHO IS COUNTING? -- HAS BEEN THE UKRAINIAN HEART. IT IS STRONGER THAN ANY TECHNOLOGY THEY COULD INVENT ON THEIR OWN. BUT THEY HAVE FOUGHT A COURAGEOUS -- FOUGHT COURAGEOUSLY. WITHOUT U.S. SUPPORT PERMITTING EUROPE WHICH HAS BEEN FUNDING THIS, IT IS EUROPE WHO HIS -- WHO IS PROVIDING DEVELOPMENT FUNDS AND DEVELOPING EQUIPMENT TO SEND TO UKRAINE. WITHOUT ALL OF THAT, WE ARE BREAKING OUR COMMITMENTS AND I WOULD HOPE IF THERE IS ANY MEETING WITH ZELENSKYY THAT EUROPE WOULD BE CUT IN BECAUSE THEY ARE A REALLY IMPORTANT PART HERE. JOE: VLADIMIR PUTIN HAS THIS IDEA TO GET TOGETHER PUTIN, TRUMP, AND XI TO DECIDE THE FUTURE OF UKRAINE WITHOUT UKRAINE AT THE SUMMIT NEXT MONTH WHICH THE PRESIDENT SAID WOULD PRESUMABLY TAKE PLACE IN CHINA. I AM NOT GOING TO ASK YOU -- THAT DOESN'T SOUND TERRIBLY PLAUSIBLE TO ME. JANE: I THOUGHT YOU SAID EARLIER THAT THAT WAS ABOUT DENUCLEARIZATION, NOT ABOUT UKRAINE? AGAIN, WHO STARTED THE CONVERSATION? PRESIDENT TRUMP DID IN THE WELL OF THE U.N. AND OUR NUCLEAR AGREEMENTS NEED TO BE RENEWED BUT I THINK THE WAY HE IS TALKING ABOUT POSSIBLY USING WEAPONS IS GOING TO MAKE THAT HARDER. JOE: WHAT IS THE FASCINATION WITH VLADIMIR PUTIN? IS IT SIMPLY THE FACT THAT HE IS A STRONG MAN? THAT HE IS A BILLIONAIRE? JANE: THAT HAVE TO BE SOME OF IT. IS THERE MORE? I DON'T KNOW. YOU KNOW, THERE ARE ALL KINDS OF RUMORS AND I DON'T WANT TO SPREAD THEM AGAIN BECAUSE I DON'T KNOW IF THEY ARE ACCURATE BUT HE DOES SEEM TO HAVE A FASCINATION WITH STRONGMEN LIKE PUTIN AND XI. I DON'T THINK XI IS A GOOD FRIEND OF TRUMP. I THINK XI HAS BEEN PLAYING THE LONG BALL AND DOING IT EXTREMELY WELL WITH RESPECT TO TRUMP. I THINK PUTIN TOO IS TAKING ADVANTAGE RIGHT NOW. AND TRUMP'S FRUSTRATION WITH THE MIDTERMS MAY BE PLAYING INTO THIS BUT IT IS REALLY DANGEROUS TO CONTEMPLATE THAT THE U.S. WOULD ABANDON UKRAINE. ONE MORE COMMENT. I DON'T KNOW IF THERE ARE FIVE MEMBERS OF CONGRESS WHO AGREE WITH PRESIDENT TRUMP ON THIS. RIGHT BEFORE THE ELECTION SO THERE WAS A PRETTY COURAGEOUS LETTER, BIPARTISAN IN THE SENATE BUT THE SENATE IS NOT IN SESSION AND IT SEEMS LIKE GRANVILLE WHICH I THINK WOULD HAVE HAD SOME IMPACT HAS A BIG LOOPHOLE THAT ALLOWS THE PRESIDENT TO INVOKE NATIONAL SECURITY BUT WITH NO JUSTIFICATION HERE. KAILEY: WAIVING THE SANCTIONS. DO YOU THINK WHAT HAS PLAYED OUT IS IN PART DUE TO THE ABSENCE OF THE VOICE OF THE LATE SENATOR LINDSEY GRAHAM AND THE PRESIDENCY'S YEAR ON THIS ISSUE? >> IT IS IMPORTANT DUE TO THAT AND IT'S ALSO IMPORTANT -- IN PART DUE TO THE BASIC COLLAPSE OF CONGRESS AS A POLICYMAKING INSTITUTION. YOU HEARD MY LITTLE SOUNDBITE. CONGRESS ALWAYS CHICKENS OUT. HELLO, CONGRESS. I KNOW THERE IS AN ELECTION COULD WAKE UP. IF WE COME BACK AFTER THE ELECTION AND ALL IT IS IS MORE FINGER-POINTING AND MORE REVENGE , THAT WOULD BE TRAGIC. THIS IS A TIME FOR AMERICA TO COME TOGETHER, FOR CONGRESS TO WORK. THAT MEANS WORKING ACROSS THE AISLE AND I WAS PRETTY IMPRESSED BY THE REPUBLICAN CONGRESS WOMAN YOU JUST HAD ON WHO WAS TALKING ABOUT SOME OF THESE ISSUES BUT ALSO SOME OF THE BUDGET AND TAX ISSUES IN NEW YORK. JOE: GOING TO GET YOU TOGETHER WITH NICOLE TO SOLVE OUR PROBLEMS. IT WILL CATCH ON ONE OF THESE DAYS AND WILL GIVE YOU CREDIT. JANE WITH US HERE IN WASHINGTON AS WE TURN TO FRANCE NOW WHERE AUTHORITIES ARE PICKING UP THE PIECES AFTER A WEEKEND OF UNREST FEATURING SOME OF THE WORST STREET VIOLENCE THE COUNTRY HAS SEEN IN YEARS. THE PRIME MINISTER ORDERING CURFEWS AFTER THOUSANDS WERE ARRESTED AND POLICE ADMITTING THEY LOST CONTROL OF SEVERAL PARTS OF THE COUNTRY, ALL JUST SIX MONTH BEFORE FRANCE CHOOSES ITS NEXT PRESIDENT. OLIVER CROOK HAS MORE. ALL ARE: AFTER A WEEKEND OF -- OLIVER: THE PRESIDENT SAYS THERE MAY BE SOME CURFEWS IMPOSED ACROSS FRANCE AS A CONSEQUENCE OF THE VIOLENCE THAT WE HAVE SEEN AND WE HAVE ALSO HEARD FROM THE INTERIOR MINISTER, THE SAME INTERIOR MINISTER WHO HANDED HIS RESIGNATION IN TO EMMANUEL MACRON OVER THE WEEKEND. HE REJECTED THAT, SAYING THERE WAS GOING TO BE MORE POLICE PRESENCE IN THE COMING WEEKEND IN ORDER FOR THE GOVERNMENT TO BE BETTER PREPARED FOR THE EVENTUALITY OF POSSIBLE PROTESTS AND POSSIBLE RIOTS. THE GOVERNMENT IS VERY LIMITED IN TERMS OF WHAT IT CAN DO POLITICALLY. IT HAS LOST A GREAT DEAL OF SUPPORT WITHIN THE PARLIAMENT SINCE THE LAST TIME WE HAD MASS PROTESTS IN PARIS IN 2018. THERE IS NO FISCAL SPACE SO THEY CANNOT REALLY THROW MONEY AT THE PROBLEM. OF COURSE, WE ARE ONLY SIX MONTHS AWAY FROM A PRESIDENTIAL ELECTION HERE IN FRANCE AND ALL OF THE CANDIDATES ARE TRYING TO MAKE A OF THE EVENTS OVER THE WEEKEND WITH MARINE LE PEN SAYING THAT SHE IS A CANDIDATE FOR LAW AND ORDER IN FRANCE HAD MELENCHON SAYING IT'S THE POLICE'S -- IN FRANCE. MELENCHON SAME AS THE POLICE'S FAULTS. THE REAL FEAR IS THAT THIS COULD TURN INTO A SITUATION LIKE WE HAD BACK IN 2018 AND 2019 WHERE WE HAVE ROLLING PROTESTS WEEKEND TO WEEKEND TO WEEKEND, SOMETIMES DEGENERATING INTO RIOTS. BACK TO YOU. JOE: OLIVER CROOK IN PARIS. THANK YOU FOR THE UPDATE. COMING UP, EARLY VOTING KICKS IN IN A NUMBER OF STATES AROUND THE COUNTRY TODAY INCLUDING THE BIG ONE, TEXAS. WE WILL HEAD THERE FOR A LOOK AT WHAT IS HAPPENING ON THE GROUND WITH JUST OVER TWO WEEKS AGO UNTIL ELECTION DAY AND ARGUABLY THE MOST EXPENSIVE SENATE RACE IN THE COUNTRY. THIS IS BALANCE OF POWER ONLY ON BLOOMBERG TV AND RADIO. >> WE ARE READY. WE HAVE HAD RECORD TURNOUT WITH EARLY VOTING. THE MACHINES HAVE BEEN TESTED. THEY ARE RECORDING ACCURATELY. PHOTO ID FOR ALL FORMS OF VOTING. WE HAVE DONE THREE CITIZENSHIP VERIFICATIONS GOING BACK TO 2022 AND 2020 FOR AND THEN ALSO 2026. WE HAVE A CLEAN LIST. 99.9% ACCURATE AND ACCORDING TO AN INDEPENDENT AUDIT. QUANTS WELCOME BACK TO BALANCE OF POWER ON BLOOMBERG TV AND RADIO. I AM KAILEY LEINZ ALONGSIDE JOE MATHIEU AND THAT WAS PART OF OUR CONVERSATION WITH BRAD RAFFENSPERGER EARLIER TODAY WHO TALKS TO US ABOUT EARLY VOTING ALREADY UNDERWAY IN HIS STATE WHICH IS SETTING RECORDS AND THE LIST OF STATES WHERE EARLY VOTING IS NOW AVAILABLE IS GROWING LONGER TODAY INCLUDING IN TEXAS, HOME TO ONE OF THE MOST CLOSELY WATCHED SENATE RACES IN THE COUNTRY WITH HISTORIC AMOUNTS OF MONEY POURING IN. DEMOCRATS ARE TRYING TO BREAK A WINNING STREAK THAT STRETCHES BACK MORE THAN THREE DECADES IN THE MARGINS OF PURE RAZOR THIN AS JAMES TALARICO IS LEAVING KEN PAXTON BY TWO POINTS AMONG LIKELY VOTERS IN THE LATEST POLL WITHIN THE MARGIN OF ERROR. JOINING US NOW IS TEXAS BUREAU CHIEF JULIE FINE. HAPPY EARLY VOTING. DO YOU HAVE ANY UPDATE ON HOW MANY PEOPLE HAVE GONE TO THE POLLS TODAY? >> WE WILL NOT HAVE ANY OFFICIAL NUMBERS. THEY GO OUT ON THE SECRETARY OF STATE'S WEBSITE EVERY DAY SO WE SHOULD HAVE A BETTER INDICATION TOMORROW. PEOPLE I HAVE SPOKEN TO HER AT THE POLLS AND SAY THERE ARE LONG LINES AND YOU DO HAVE TO REMEMBER THIS IS THE FIRST DAY WHERE YOU TEND TO SEE SOME BIG TURNOUT. TURNOUT IS EXPECTED TO BE HIGH. OVER 19 MILLION. JOE: THAT IS NOT PRETTY SIGNIFICANTLY, 3% FROM LAST NOVEMBER, JULIE. IT COMES DOWN TO THE MESSAGING. THE PRESIDENT SPENT QUITE A BIT OF TIME IN YOUR STATE AND HE'S GOING TO BE GOING BACK AND HE WAS MAKING THE CASE OF THE IMPACT OF THESE RALLIES. LET'S LISTEN TO WHAT HE SAID. >> I WENT TO ALASKA AND DOWN -- DAN SULLIVAN IS UP. I WENT TO OHIO AND JOHN HUGH STEAD IS OUT. I WENT TO TEXAS AND KEN PAXTON IS OUT. SO FAR -- I WENT TO MANY OTHER PLACES. WHEREVER I GO, THEY SEEM TO BE UP. ONCE THAT IS THE PRESIDENT IN THE DRIVEWAY JUST A SHORT TIME AGO. IS HE RIGHT ABOUT THAT? KEN PAXTON IS OUT? JULIE: WHEN YOU LOOK AT THE POLLS RECENTLY, JAMES IS UP. HOWEVER, THAT IS WITHIN THE MARGIN OF ERROR. WHEN YOU WATCH TELEVISION, YOU MAY BE SEEING A FEW MORE ADS RIGHT NOW FOR KEN PAXTON THEN JAMES TALARICO. DID YOU MANAGE TO CATCH ANY FOOTBALL YESTERDAY BETWEEN ALL OF THOSE COMMERCIALS? THOSE COMMERCIALS ARE EVERYWHERE. THIS ONE DOES REMAIN WITHIN THE MARGIN OF ERROR AND IT SHOULD BE A VERY BUSY FEW WEEKS IN THE STATE OF TEXAS LIKE YOU SAID. DONALD TRUMP MAKING MANY TRIPS HERE. WE SHOULD SEE THAT CONTINUE. WHAT'S 15 DAYS, I'M STARTING TO GET ANXIOUS. WE FIND FROM OUR TEXAS BUREAU CHIEF IN THE CENTER OF THE POLITICAL UNIVERSE AT THE MOMENT. WITH US NOW, OUR POLITICAL PANEL. DEMOCRACY VISITING FELLOW AT HARVARD KENNEDY SCHOOL'S ASH CENTER OF BLOOMBERG POLITICS CONTRIBUTOR ALONGSIDE THE FORMER RNC COMMUNICATIONS DIRECTOR OR REPUBLICAN STRATEGIST. GREAT TO SEE YOU BOTH. EARLY VOTING AS PART OF THE GAME AND THIS IS PART OF THE STRATEGY. WHEN YOU HAD TEXAS TO THE PILE TODAY, IT REMINDS US ALL OF THE DEBATES ARE BEING WATCHED IN REAL TIME BY PEOPLE WHO COULD BE VOTING TODAY NOT 15 DAYS FROM NOW. HOW DOES THAT IMPACT STRATEGY ON THE GROUND? >> AS WE GET CLOSER TO ELECTION DAY, MORE AND MORE PEOPLE HAVE GOTTEN OFF THE VOTER ROLLS AND THOSE ARE YOUR MOST RELIABLE VOTERS. SOME PEOPLE ALWAYS WANT TO VOTE ON ELECTION DAY BECAUSE THAT IS WHAT THEY HAVE ALWAYS DONE BUT IT ALLOWS YOU, REPUBLICAN OR DEMOCRAT, TO TARGET THE VOTERS WHO HAVE NOT VOTED YET. WE WILL SEND YOU AN ABSENTEE BALLOT AND WE WILL CHASE YOU UNTIL YOU RETURNED IT BECAUSE THAT UNIVERSE GOT SMALLER FOR US EVERY DAY IN A GOOD WAY SO WE COULD TARGET MUCH MORE EFFECTIVELY. KAILEY: ISN'T THAT WHAT TRUMP DOESN'T WANT TO SEE? YOU ARE SAYING IT'S A GOOD STRATEGY. >> A MASSIVELY GOOD STRATEGY. THE PROACTIVE ABANDONMENT OF IT IS A REAL PROBLEM FOR REPUBLICANS. JOE: WE SPOKE EARLIER WITH BRAD RAFFENSPERGER AND HE HAS A PRETTY GOOD STORY TO TELL ABOUT EARLY VOTING IN GEORGIA. HE WOULD NOT WEIGH IN ON HOLDING BALLOTS BUT WHEN YOU SEE THIS KIND OF ENERGY, WHAT DOES IT TELL YOU? >> IT TELLS US THAT VOTERS ARE REALLY ENTHUSED. I LOOKED AT THE NUMBERS JUST AFTER NOON TODAY AND THEY WERE LIKE 9.7 MILLION BALLOTS ALREADY CAST AND I HAVE TO JUST SAY I FEEL TERRIBLE FOR JULIE BECAUSE EVERY TIME I GO TO THE GYM WHICH IS RARE BUT WHEN I GO AND I TURN ON MY PODCAST, UP POPS A MESSAGE FROM ONE OF THESE TEXAS CANDIDATES WHO ARE ASKING FOR MONEY. I CAN'T IMAGINE WHAT SHE IS GOING THROUGH DOWN IN TEXAS. THEY HAVE BEEN ALL OVER -- I GUESS THEY ARE NOT AIRWAVES. THEY ARE THE PODCAST WAVES. BUT THIS IS WHAT IS ENGENDERING SO MUCH ENTHUSIASM IN THESE RACES IS THAT, ESPECIALLY ON THE DEMOCRATIC SIDE WHERE WE HAVE SEEN IT, PEOPLE ARE REALLY ANXIOUS TO GET OUT THERE AND VOICE THEIR DISCONTENT IN PARTICULAR ABOUT DONALD TRUMP SO AS MUCH AS HE ELECTS TO SAY WHERE HE GOES, THAT HIS CANDIDATES ARE UP, WHERE HE GOES, DEMOCRATS ARE ALSO SAYING WE HAVE GOT TO PUSH BACK ON HIM AND THEY ARE GETTING OUT EARLY TO VOTE ON THAT. KAILEY: WHERE HE IS GOING TONIGHT IS KANSAS. DO YOU SEE THIS CONTEST AS REAL AS SOME ARE PAINTING IT TO BE THE CYCLE? >> IT IS REALLY LOOKING THAT WAY IN PART BECAUSE ROGER MARSHALL HAS DONE SUCH A TERRIBLE JOB IN CAMPAIGNING. HE HAS NOT BEEN A STRONG CANDIDATE WHICH YOU DON'T EXPECT FROM INCUMBENTS. ON THE DEMOCRATIC SIDE, THEY HAVE DONE A GOOD JOB. THE BIGGER POINT IS NOT ABOUT THIS RACE. IT'S THE FACT THAT WE ARE TALKING ABOUT THIS RACE. THE DEMOCRATS ARE TALKING ABOUT AN EXPANDED MAP. GOOD EXAMPLE SINCE WE ARE TALKING FOOTBALL AND AIRWAVES AND SO FORTH. I WAS WATCHING THE DUKE FOOTBALL GAME. I SAW A LOT OF ADS FOR ROY COOPER. I DID NOT SEE A SINGLE ONE FOR MICHAEL WATLEY. NORTH CAROLINA COMPLETELY OFF THE TABLE EVEN THOUGH DONALD TRUMP WILL GO BACK THERE. JOE: WHAT HAPPENED HERE? WAS IT SIMPLY CANDIDATE QUALITY? I SAW MICHAEL WATLEY WITH JD VANCE. THEY ARE STILL SWINGING AT THE BALL WITH THE PARTY APPEARS TO HAVE GIVEN UP ON THIS. >> IT STARTS WITH CANDIDATE RECRUITMENT. ROY COOPER IS AS GOOD A CANDIDATE AS THEY COULD HAVE ELECTED STATEWIDE MULTIPLE TIMES. THE REPUBLICAN ATTACKS WERE NONSENSICAL. HERE IS A GUY WHO LOOKS AND SOUNDS LIKE MATLOCK VOTERS HAVE VOTED FOR THEM REPEATEDLY SO THOSE DON'T WORK. HE HAS DEPRESSED THE REPUBLICAN BASIN IN NORTH CAROLINA. THAT RACE IS OFF THE TABLE. HE WILL LOSE BY HISTORICAL NUMBERS. KAILEY: THE LATEST FIGURES IN THE WASHINGTON POLL THAT CAME OUT THIS WEEKEND, 33 PERCENT APPROVAL. DOES THE PRESIDENT TO ANYONE ANY FAVORS BY BEING ON THE ROAD TO THE EXTENT THAT HE IS THIS WEEK? >> I DON'T KNOW IF THE KIDS KNOW WHO MATLOCK IS AT THIS POINT. TAKE IT EASY. >> THANK YOU. I DON'T KNOW THAT REPUBLICANS AT THIS POINT HAVE ANY OTHER OPTION. NOBODY IS BETTER AT GETTING OUT THE VOTE THEN DONALD TRUMP. THIS IS ALL ABOUT GETTING OUT THE VOTE SO THEY ARE SENDING HIM TO SAVE DISTRICTS AND STATES, TRYING TO DRUM UP ENERGY AROUND -- AMONGST PEOPLE WHO DON'T NORMALLY GET OUT OF VOTE THAT HE HAS BEEN ABLE TO GET OUT FOR THE LAST DECADE AND HOPING THAT WORKS. AS DOUG WAS TALKING ABOUT, IT IS AN UPHILL BATTLE IN SOME OF THESE STATES. YOU LOOK AT NORTH CAROLINA AND KANSAS THAT YOU JUST TALKED ABOUT AND THERE IS A CASE WITH A REALLY GOOD CANDIDATE IN HAMILTON. DEMOCRATS REALLY DID A GOOD JOB WITH RECRUITMENT THERE. NOT SO MUCH WITH MARSHALL AND THE SAME THING IF YOU LOOK AT NORTH CAROLINA AND OF COURSE YOU LOOK AT A STATE LIKE TEXAS, SAME THING SO CANDIDATE QUALITY IS PROVING TO BE THE TRADITIONALLY BIG ISSUE THAT IT IS AND IN THIS ENVIRONMENT, IT IS HARD TO OVERCOME. JOE: ROGER MARSHALL OUGHT TO START WEARING A BABY BLUE SUIT. WE HAVE DEBATES THIS WEEK AND THAT IS ONE OF THEM. KANSAS, ANOTHER ONE IN MICHIGAN, AND THESE WILL BE FUN FOR US TO WATCH AND THEY WILL BE PRETTY CHIPPY AND GENERATE A BUNCH OF VIDEOS ON TWITTER. WITH TWO WEEKS, WHO IS THE AUDIENCE? ARE THEY ACTUALLY GOING TO CHANGE? >> MOSTLY WE ARE THE AUDIENCE UNLESS THEY MAKE A BIG MISTAKE AND VERY CLOSE RACES, MICHIGAN IS A GREAT EXAMPLE, IF HE HAS A REALLY BAD MOMENT, EVERYBODY IN MICHIGAN WILL SEE IT. IF MIKE ROGERS HAS A REALLY BAD MOMENT, EVERYBODY IN MICHIGAN WILL SEE IT. THERE ARE STILL UNDECIDED VOTERS AND A LOT OF THESE RACES SO THESE DEBATES ARE IMPORTANT TO JUST NOT SCREW UP. KAILEY: I WONDER HOW MUCH GEOPOLITICS IS GOING TO WORK ITSELF INTO THE VARIOUS DEBATES AND HOW MUCH YOU THINK IT MIGHT BE ON THE MIND OF A VOTER AS WE WITNESSED THIS VERY PUBLIC BREAKDOWN IN RELATIONS BETWEEN DONALD TRUMP AND THE UNITED STATES AND UKRAINE AND PRESIDENT ZELENSKYY WITH THE PRESIDENT APPARENTLY TAKING MORE THE SIDE OF RUSSIA THAN OF THE U.S. ALLY. DO YOU THINK VOTERS CARE ABOUT THAT KIND OF THING? WOULD THEY WANT TO HEAR WHAT CANDIDATE HAS TO SAY ABOUT IT OR ARE THEY MORE CONCERNED WITH DOMESTIC KITCHEN TABLE ISSUES? >> DOMESTIC AND KITCHEN TABLE ISSUES BUT THIS IS AN ISSUE IN FOREIGN POLICY WHETHER YOU'RE TALKING ABOUT THE IRAN WAR OR DONALD TRUMP TYING THE PRICE OF GAS TO THE UKRAINE-RUSSIA CONFLICT. THIS IS WHY IT IS PLAYING A ROLE HERE BECAUSE THEY ARE SEEING THE PRESIDENT SORT OF IN MY VIEW STUMBLING AROUND, TRYING TO ADDRESS HIGH PRICE OF DIESEL, THE HIGH PRICE OF GAS, AND IN THE PROCESS OF DOING THAT, HE IS TAKING THE SIDE OF THIS AUTHORITARIAN DICTATOR THAT VERY FEW PEOPLE IN THE COUNTRY, REPUBLICAN OR DEMOCRAT, SUPPORT OR LIKE. IT IS GOING TO PLAY IN THIS BECAUSE IT'S COMING THROUGH AS PEOPLE LOOK AT THE PRICE OF GAS AND THE PRICE OF GROCERIES AND EVERYTHING ELSE. THE SAME THING GOES WITH THE TARIFF WAR. YOU CAN CALL THAT A FOREIGN POLICY ISSUE BUT WE ARE PAYING TARIFFS AT HOME. I WENT TO THE GROCERY STORE. IN ADDITION TO WAITING FOR MY INTERNET TO BE FIXED AND I WILL TELL YOU IT IS EXPENSIVE OUT THERE FOR PEOPLE. THEY KNOW THAT WHEN THEY GO TO THE POLLS TO VOTE. >> THE LANGUAGE FROM THE TEAR FILM WAS LINDSEY GRAHAM. THE SITUATION WE WILL ALL SEE PLAY OUT, APPOINTED INCUMBENT, THAT MAKES THAT A LITTLE MORE INTERESTING. JOE: THAT IS THE QUESTION. TO WHAT EXTENT ARE VOTERS CARING ABOUT DONALD TRUMP'S RELATIONSHIP WITH VLADIMIR PUTIN AT THIS POINT? OR IS THERE A CONCERN THAT WE ARE PICKING THE WRONG SIDE? >> I HAVE MASSIVE CONCERNS ON IT BUT IF YOU ARE REPUBLICAN, HERE IS WHY YOU SHOULD BE CONCERNED. WHAT HAVE YOU TALKED ABOUT OVER THE PAST WEEK? DONALD TRUMP CAVING TO RUSSIA, THE ARCH THAT IS GOING TO BE BUILT, THE GOLF COURSE THAT IS SO IMPORTANT TO DONALD TRUMP. ALL OF THESE MAKE IT HARDER FOR ASHLEY HINSON OR MICHAEL WATLEY OR NEW AMERICA OR WHATEVER IT MAY BE. THAT IS THE PROBLEM FOR REPUBLICANS. SO MUCH HARDER IF THEY ARE ON THE BALLOT TO MAKE A CLOSING ARGUMENT BECAUSE THE SELF-CREATED OUTRAGE. KAILEY: IS THAT JUST THERE FOR DEMOCRATS TO CAPITALIZE ON? ARE WE GOING TO HEAR DEMOCRATS CALLING OUT THE GOLF COURSE IN THE JEANNE: --D.C. IN D.C.? JEANNE: THE PRESIDENT IS FOCUSED ON THE NONSENSE HE WAS LISTING THROUGH. WHERE THIS CAME FROM IS STUNNING AND YOU KNOW, HE JUST CANNOT FOCUS ON THE MESSAGE I HAD SEVERAL PEOPLE -- MESSAGE. I HAD SEVERAL PEOPLE ASKED ME WHAT IS HE DOING WITH EVERYTHING GOING ON? IT IS MIND-BOGGLING TO IMAGINE THIS IS HIS CLOSER BUT THIS IS IT. IT IS TYPICAL DONALD TRUMP BECAUSE HE DOES NOT WANT TO TAKE RESPONSIBILITY FOR A VERY BAD ECONOMY. JOE: I HEARD A LOT OF THIS ON THE EVE OF THE LAST ELECTION AS WELL. YOU ARE SEEING THE PUBLIC POLLS OR ARE DEMOCRATS GETTING A LITTLE OVER THEIR SKIS? >> POTENTIALLY POSE. I WILL NEVER BELIEVE ANY POLL I SEE ALASKA. IT IS JUST TOO HARD TO PULL THEY ARE BUT CLEARLY, A LOT OF THESE RACES, ANYBODY CAN WIN IOWA. IF YOU ASKED ME WHO IS GOING TO WIN IN TEXAS, MY HONEST ANSWER IS I HAVE NO IDEA. QUICK THAT IS SAYING SOMETHING IN THE STATE OF TEXAS. OUR POLITICAL PANEL ON THIS MONDAY. THANK YOU BOTH SO MUCH AND OF COURSE FOR MORE MIDTERMS COVERAGE, CHECK OUT THE WASHINGTON EDITION NEWSLETTER ON THE TERMINAL AND ONLINE. JOE: THANKS FOR JOINING US. WE WILL SEE YOU BACK HERE TOMORROW ON BLOOMBERG TV AND RADIO.