Transcripts For BLOOMBERG Balance Of Power Republican National Convention 20240712

Even how many hamburgers you can eat. They want to defund the police and take away Second Amendment rights. They want Free Health Care for illegal immigrants. Yet they offer no protection for unborn americans. They want to pack the Supreme Court with liberals. Thiswant to codify all of by making the swamp itself, washington, d. C. Americas 51st state. With two more liberal senators, we cannot undo the damage they have done. Democratsderstand why spent an entire week telling us about who joe biden is, not what he intends to do. I am immensely proud of the work the Republican Senate has done. We are the firewall against nest Nancy Pelosis agenda. We will not be bullied by a liberal media intent on destroying americas institutions. We will stand our post on behalf of millions of americans whose stories are told in americas newspapers whose struggles are just as real. We will continue to support American Families as we defeat the coronavirus and return our economy to the envy of the world. The stakes have never been higher is why i am asking you to support Republican Senate candidates across the country and we elect my friend resident donald trump. That was mitch mcconnell. President trump will formally accept his nomination this evening. Among those appearing will be ivanka trump and a range of speakers addressing National Security, law and order, and the economy. Kenosha,persist in wisconsin after the Police Shooting of jacob blake. We will also hear about criminal Justice Reform and what President Trump has done for black americans. With us throughout our coverage are bloomberg correspondence. Listening to mitch mcconnell, who is up for reelection, he is making his case. We have heard throughout this convention, things that im not sure what the evidence is for. For instance, they will take away your Second Amendment rights. Or they will tell you how many hamburgers you can eat. I am perplexed. That is a new one to me. We have heard that repeatedly. Arguments trying to paint joe biden into the corner of being a socialist progressive. To listen, you would think he is a communist. If we know anything about joe biden, he is very moderate in terms of his voting record. Its almost as if they want to run against someone like Bernie Sanders and they ended up with joe biden and they have had to adjust their playbook. It is obviously an attempt to speak to the base and get the base out. Both sides are getting to get fighting to get their base out. Campaigns. These tot do you do to get back where you think you are . Evaluate whether the lies you are being told deserves to be responded to. The democrats are going through every day at this convention deciding what they are going to respond to. As you saw today, joe biden and Kamala Harris were out in the public talking about the lies that they felt needed to be corrected. Playbook forical politics at this time of a president ial campaign. Thank you both. Now lets turn to our chief washington correspondent at the white house. What is going to happen with the senate . First saidcconnell he wasnt going to speak at the convention, then he ultimately decided to speak. He is in a tough Senate Reelection fight. Kentucky where the polls have tightened over the summer. Look no further than iowa where a republican senator who also spoke of the convention, a veteran, someone with military experience who is largely seen as the future of the Republican Party, she is in a tough fight with a progressive farleft candidate. Running onenfield is the Elizabeth Warren platform. With regards to trade and agriculture, progressives deal they can make up ground there. Also, senator tom cottons upper reelection. ,hen, senator Lindsey Graham the political maverick. He now finds himself in that with a democrat Jamie Harrison who is raising. He is an africanamerican businessman who came from poverty and appended the South Carolina race. We always knew the republicans would have a tougher time because they have more seats being contended. At the same time, they have their candidate. They have to embrace him. They cant run against him. If remarkable. Back during Brett Kavanaughs confirmation, everyone was looking at people like senator Susan Collins who has the potential to navigate the treacherous political waters. It is typical at any convention for the incumbent to have to face dodges from members of their own party in terms of folks running and more moderate states that want to distance themselves. Beyond that, this is my final point, the down ballot races are going to decide not just the direction of policy but also procedure for several years. A superemocrats obtain majority and the white house, the filibuster rule can be thrown out the window. That could have severe implications when you have former president obama saying he would want to get rid of some of the Senate Procedural rules and budget majority vote. So much is at stake, not just who is going to win the white house. David thats a powerful point. Kevin will be with us throughout the evening. For more on what we can expect from President Trump, lets ring in bring in our white house reporter. Based off of expert excerpts from earlier, we expect president to hit joe biden pretty hard on china and immigration. We expect him to paint joe biden as a vessel of the radical wing of the Democrat Party. The president will paint himself as a defender of traditional american values. David thank you. We will be coming back to you later. Rick, what are you expecting from the president tonight . What does he need to do or want to do . First, he will do a victory lap. He will say i kept my promise is. I cut taxes. I changed regulation. I built a border wall. Hes going to rip through that stuff because after all, in his mind, he has kept his promises to his voters. Then, i think he is going to take a good shot at joe biden. I think he is going to try to capture this theme we have seen all week that joe biden is the liberal left of the democratic party. He cant even speak his own mind without checking with Bernie Sanders. That those policies are going to create a bifurcated america. A Joe Biden America which is dangerous and risky and a place full of crime and upheaval. Then, the donald Trump America which having been a part of the reagan campaign, i think he is going to take morning in america one step further. You are going to see that kind of bifurcation process. Where he winds up, the big question is, how much will he stick his neck out for the next four years in what he is willing to promise to get a second term . He is running against himself. He is the incumbent. We know that President Trump is much more comfortable running as a challenger. Embracing this incumbency has been a challenge. Oflikes to embrace the look it, but the owning of what happens in wisconsin happens under your watch is hard for him. Thats what i am most interested to see. I cant remember a convention where the country was facing so many crises at the same time. Not just the hurricane, but the pandemic, and economy in turmoil, and racial unrest. The president simply cant ignore those. Hashe addresses those in he been the president through the pandemic, the racial unrest. Many believe that he stoked the racial unrest. I am curious to see how he threads the needle. Up, part of my interview with wilbur ross. This is coverage of the Republican National convention. David welcome back to special coverage of the Republican National convention. President trump came to office promising to change u. S. Trade relations around the world. We have a report on what he got done in the first four years. Trade has dominated the narrative for this president. He has relied heavily on tariffs. He has favored bilateral rather than multilateral trade. We got a phase one trade deal with china. He has heavily touted that. It came at a cost. You spoke to someone about that earlier this week. People give him credit for confronting china. China is a known bad actor. The Obama Administration had not yielded anything really. I think it was a negative point of view of maintaining momentum. The trade war has been incredibly disruptive. From a supply chain perspective as well as Financial Markets. Last week, both sides reaffirmed their commitment to the deal. China still has a long way to go to fulfill its promises. If you look at the 171 billion worth of goods they are supposed to bite, they have only bought 28 of that target. Buy 130d need to billion more by the end of this year to fill their initial promises. Aside from trade, there are plenty of other tensions with china. Data, hong kong, and the South China Sea. We try to plot the attitude toward china on a chart relative to what President Trump has been and what President Biden could be as well as president obama could be. They found that president obama was in a procedural engagement camp. Joe biden they think would be somewhere in the middle. President trump is in the unpredictable containment camp. If theres anything we know about the markets, they do not like unpredictability or uncertainty especially when it comes to the world two largest economies. David that is a great chart. Earlier today, i spoke with wilbur ross for his views on the Trump Administrations approach trade and what we could expect in a possible second term. In terms of china, a lot has been accomplished. Side, weforcement really have been enforcing quite vigorously. You will familiar with the actions taken on huawei. Zte, twons taken on Major Telecom companies. We have been working very hard on the Semi Conductor side of things. While china does have technology, we still have the best Software Design and the best fabrication equipment for Semi Conductors. Were trying to avoid them taking unfair advantage of our technology. Technology is really important because while protecting things like steel and aluminum help take care of todays world, Health Technology is tomorrows world. Thats a big deal. Recently, we put on the entity sincef 500 companies 2017. An awful lot of those are chinese companies. That is because they are the ones that seem to be doing the most to violate sanctions. To violate human rights watch. Most recently, to create problems and hong kong. Though that has been a big series. Then of course, you have the tariffs. That weion 301 tariffs imposed on china. The cumulative effect of all of thenis enormously greater the longterm cumulative effect of everything that had been done before trump. David speaking of china and technology, we have the tiktok issue that is pending. Various companies have expressed an interest. I am told microsoft, walmart, and oracle have expressed an interest. What are the criteria you use in deciding if any of these make sense from the point of view from the u. S. . The fundamental idea is that we dont want detailed, personal information on all of our teenage children who are the main users of tiktok. Informationt that to become part of a big chinese database to use to infiltrate our country. That is the principal objective. Whether it should be microsoft or oracle or someone else, that is more for the private sector to decide. People are essentially operating in the u. S. And a couple of other nonchinese countries. Tiktok as i understand it does not really operate in china. There would be no particular as at on chinese apps result of whatever we do with tiktok. My own personal preference would be to have tiktok acquired by one of these american companies. I think that would have the ofnge benefit not only helping from a National Security point of view but creating more competition in the areas of facebook and social media. That is a healthy thing. Competition is a very good thing. Thats kind of what makes american industry thrive. That was part of my interview with wilbur ross. For more on china, welcome tom mackenzie. Just to respond to what wilbur ross was saying, there is fromit side to the actions the u. S. Especially on technology. They have taken a sledgehammer to huawei. The flipside is that china has doubled down on its own indigenous innovation spending on things like r d particularly in semiconductors. Gears away from catching up with the u. S. On sophisticated ships. The other thing that has been a has been the military maneuvers between china and the u. S. Over the last 45 days. The Chinese Military says they have expelled a guided missile worship from the South China Sea. After the warship entered that area. Apparently, china sent its own navy to blow it out of the waters. That is after china fired missiles. A u. S. Spy plane flew over a nofly zone in northern china. The military tensions are clear. They have been in the spotlight this week. Then, you get an accident that leads to military conflagration. Something military expert. 2 as a potential risk in the South China Sea and the taiwan strait. Always great to have you with us. Theng up, more from Republican National content convention. Is coverage of the rnc on bloomberg tv and radio. David welcome back to special coverage of the rnc. We are waiting now for ben carson and his remarks. On benhave any thoughts carson . Yes. His remarks are keeping with what we have seen throughout the convention which is they are trying to make the case that the democrats claim that the Republican Party is racist is not true. Night,e henderson last vernon jones, and probably dr. Ben carson who is not only a neurosurgeon but also has led hud for President Trump. I think he is going to serve several roles including paying testament to the fact he has worked with the president and he knows the president in a way that most people dont. It is also important not only leading hud given what is going on with the pandemic that this renowned neurosurgeon can speak to that. David thank you. Now we go to the convention and dr. Ben carson. I am a retired neurosurgeon and a public servant. Before i begin, i would like to say that our hearts go out to the blake family and the other families who have been impacted by the tragic events in kenosha. As jacobs mother has urged the country, lets use our hearts, our love, and our intelligence to Work Together to show the rest of the world how humans are supposed to treat each other. America is great when we behave greatly. In order to succeed and change, we must first come together in love of our fellow citizens. History reminds us that necessary change comes through hope and love, not senseless and destructive violence. To anm lincoln once said america divided that your purpose plainly stated is that you will destroy the government unless you be allowed to construe and enforce the constitution as you please on all points of dispute between you and us. You will rule or ruin in all events. These words of warning are relevant today. We have a choice. Do we want Big Government that controls our lives from cradle to grave . Or do we believe in the power and wisdom of the people and their ability to self govern with help from a limited federal government . Trump,sident, donald j. Believes in the people. He is one of us. He makes promises and he keeps them. Weis transparent and certainly know what he is thinking. He does not submit to Political Correctness or to its enforcers, the media. He is real. Right now, we need real. We need courage. Corner andwer in the hope that no one calls us a name , believing that will keep us safe. That is not courage. That will not lead us to a good and just place. Thoset remember all of who sacrificed everything in order to give us freedom. We must be willing to do the same for those who come after us. President trump does not dabble in identity politics. He wants everyone to succeed and believes in the adage a rising tide lifts all boats. Many on the other side love to incite division. Years ago, Jesse Jackson gave donald trump untoward for the Economic Opportunities he created for black people. In palm beach florida, donald trump lead the crusade to allow blacks and juice into private. Lubs and resorts one of the first things he did was to bring historically black colleges and universities into the white house so they could get proper financial support. For the pandemic, africanamerican employment was at an alltime low. President trump accomplished prison reform. He created incentives to encourage investors to become involved with economically deprived areas of america. He strongly supports school choice. Fully recognizing that no matter what circumstances a person is born into, they can achieve success with a good education. It was true for me. When my mother forced me to read books about doctors, entrepreneurs, inventors, and scientists, i began to recognize that the person who has the most to do with what happens to you in life is you. Ben,ther always told me you can do anything, but i will never allow you to become a victim. It was then that i stopped listening to people who were trying to convince me that i was a victim and others were responsible for my victimhood. What is racist is the fact that africanamericans have the highest abortion rate. President trump is the most prolife president in the countrys history. He will continue to fight for those who cannot yet speak. The vision of a shining city upon a hill came from jesuss sermon on the mount. America is that shiny city. We are the beacon of hope for the world. At this moment in time, President Trump is the man with the courage and ability to keep it shining brightly. David you have been listening to dr. Ben carson, the secretary of housing and urban development addressing the Republican National convention. He did specifically address the shooting in kenosha, saying that the hearts go out to the families, but also the only way to have real change is through hope and love, not senseless violence. This is one of the few people who has recognized what is going on in kenosha and what is happening in cities around the country and, frankly, in the culture, which includes our sports teams and people like that who are trying to bring attention to this issue. The other thing he did not bring up was coronavirus. Recently appointed to the president s Coronavirus Task force, and i would have thought he would use an opportunity like this to reinforce the message, but tonight, really, the message by the secretary was to reinforce this notion that donald trump is not a racist. We have heard this over and over and over throughout the convention, and they clearly are worried about that, and they are addressing it with every chance they can. It was a very mixed bag of things that secretary carson brought to the table today, but notable for missing an opportunity as a Coronavirus Task force member to say something. David thats a really good point. In the meantime, while secretary carson was speaking, we had an open in china. Lets hear the latest from sophie kamaruddin. Sophie a of President Trumps convention speech, which will no doubt feature china prominently, we are seeing the offshore yuan holding and pimco see the currency outperformed in asia amid the cyclical recovery that participated in the region and in the open on china. We have shanghai shares opening lower, but we have the index set for a third monthly gain, and. Heck out the tech heavy china it has made three new billionaires in china amid the opening frenzy. Chinese banks are in focus with earnings on tap in the sector, rising bond and loan default risks are seen as denting profit. The pbocs shift toward curbing debt expansion as the last of aggressive policy easing is ramping up Debt Repayment issues for distressed borrowers in china. Private firms and Property Developers are particularly vulnerable amid rising funding costs. Checking out the board once more, tight liquidity concerns fueling a high in chinese yields with the 10year now at a july 9 high and after the feds pivot for inflation, asian bonds are falling with the yield curve tracking that steepening we are seeing in treasuries. David coming up, we will look at what the president has done and hopes to do when it comes to our taxes. This is coverage of the Republican National convention and on radio. An National Convention and on radio. David welcome back to special coverage of the Republican National convention on Bloomberg Television and radio. One of the things President Trump is proudest of are the huge tax cuts enacted at the end of his first year in office, and he promises to do even more. To give us a review, we welcome once again our colleague. Kaylee tax policy is front and center for the Financial Markets in this election. President trump wants to keep or protect this low. Largely, this is a welcome idea to wall street. The question is do we actually need it . We spoke to Rudy Giuliani, former mayor of new york city and advisor to President Trump. When we started talking to business people, big and small, they were telling us, we would rather have regulatory relief than tax cuts. I dont know that we need another tax cut. I believe he thinks we do, and he knows more about it than i do. I sure know one thing we dont need a big tax increase right now. Welee thats one view dont need higher taxes and thats one of the concerns when it comes to candidate bidens proposal. He wants to raise the Corporate Tax rate by about 1 3. Rbc Research Says the effective Corporate Tax rate before the pandemic was around 17 , far below the 23 rate it was when President Trump was elected. That is in large part thanks to the sweeping tax or phone the president passed in the first half of his term. This clearly favors companies and big corporations. An estimated 7 in aftertax income they would lose under a Biden Administration according to rbc. Many arguing for disproportionately favors the wealthy. 78 of the gains went to the wealthiest 1 . For the poorest 20 , secondworst 20 and middle 20 , they received virtually no benefit at all. As tries to make the case that his tax policies will help the middle class, this is something that he has to square. David thank you so much. We will back we will be back again during the program. We welcome now mattie dudley, founder and president of fiscal strategies. We also are still joined by our contributors. Give us a sense, really, if there were substantial new tax cuts, what would the effect be on the economy . Up for debate, but an effective tax cut on the Capital Gains rate could flow through to other people who are not just holders of assets like stocks. I saw your piece earlier saying adjust flows to the high income earners. Remember, Capital Gains are not just taxes paid on people who are selling stocks. You sell your home, you make a gain on that. The other thinking on a Capital Gains tax cut is that loosens up capital in the economy that flows through to other more productive uses. That is really where you would see the effect if there was a Capital Gains tax cut. This with the cut in the Corporate Tax rate. When you cut the Corporate Tax rate, you have more capital for theirations to use in investment economies. That flows to workers and wages. In an increase in we are talking about cutting the Capital Gains tax rate, yes, of course, the direct benefit would potentially go to people who are direct old as of assets, but the residual effect of that could be demandinguite immense on the amount of Capital Gains tax cut as well as the duration of it. We saw in 2001, 2 thousand three, the cut in the capital tax gains rate was temporary at that point. Something that is just temporary in nature, people might sit on their capital a little bit longer, but something permanent could have a growth effect for sure. When you think about Small Businesses, which have been so decimated by covid19 and the pandemic, what would you suggest that the president or joe biden, should he be elected whats the first thing you think should happen to help those Small Businesses that have been so decimated in the pandemic and still seem to be struggling . Certainly for businesses, the challenge right now is the lack of certainty. They need to know what is going to happen in the next couple of weeks and months, not even discounting the fact that weve got the Coronavirus Crisis still weighing heavily on small business. This is something businesses always need in times of Economic Uncertainty with the added factor of this Public Health uncertainty, businesses need to know there will be security for them when they talk about keeping their workers on payroll and hooking into the end of the year. The Trump Administration issued that payroll tax cut as a result of an executive order, but the devil is in the details. The question is what happens when that executive order expires, regardless of who is in the white house . We dont know when those tax liabilities will eventually come do and who will be responsible for payment. I think Small Businesses right now would be looking for leadership both from congress and the white house certainty about the economic environment. Things thatuple of were covered in the cares act. Speaking of fiscal policy, back to capitol hill, we know probably both of the candidates, regardless of who is elected president , will have to have some kind of stimulus package in the First Quarter of next year, and you can imagine that will drive most of the spending, but at some point, the economy is going to recover, we hope. Do our fiscal help republicans start looking at these deficits and say these deficits are a problem and they will restrain our growth and we have to do something about it . My hope is that the discussion right now offers a better landscape for both republicans and democrats to talk about the need for fiscal to needsn it comes like this. But democrats and republicans have said the federal government certainly has a role to play in emergencies and what we are experiencing in coronavirus i think certainly qualifies as an immense emergency with accumulative effect, the likes of which we have never seen before. I think it proves the point of fiscal conservatives who have said that we need to make sure we are applying scrutiny to spending across the entire budget in times of normalcy because if you dont do it then, it becomes that much more difficult to have the spent the fiscal space to make the important decisions when times are dire like they are now. I think it certainly makes sense for congress to continue to respond to the coronavirus, but there should be another relief package to help Small Businesses and employers as they face so much uncertainty headed into the winter, but you are right we need to make sure there is enough conversation at the end of that to talk about having a extremeit more lifestyle spending. David thank you for joining us. We are now about to go back to the convention where we are due to hear from republican arkansas senator tom cotton. As the convention seems to be returning from a law and order came under former mayor Rudy Giuliani to National Security under tom cotton. We will be listening to the senator as he comes to the podium. Rick davis, why dont you give us a quick thought on tom cotton. Time distinction himself by being in the military. Served in iraq and came back, ran for office, and he has been a real interventionist when it comes to capitol hill, and then donald trump comes along, and it looks like he is about to tell us himself. David yeah, we are going to hear right now. Senator cotten good evening. Im senator tom cotton. A lot has changed in four years. Back then, we gathered in a rowdy arena. Tonight, you are probably at home while i stand alone. Was thelone that motto of my old army unit, the 50 six infantry, the original and of brothers. From the normandy beaches to the iraqi desert, we fought alongside each other, but we were always prepared to stand alone. So it is with our nation. We lead the free world, but we will stand alone if we must to defend america. Donald trump understands this. He puts america first. Thats why america is safer now than four years ago. But joe biden would return us to. Week and dangerous past Barack Obamas own secretary of defense said joe biden has been wrong on nearly every major National Security decision over the past four decades, so lets compare the records of joe biden and donald trump. Biden to defense spending again and again. President trump rebuilt our military and added the space force. Joe biden let isis terrorists rampaged across the middle east. President trump eliminated isi leader and destroyed its caliphate. Joe biden opposed the mission to kill osama bin laden. President trump avenged the americanshundreds of by killing al qaedas mastermind. Joe biden sent pallets of cash to the ayatollahs. President trump ripped of the dangerous iran nuclear deal. Joe biden treated israel like a nuisance. President trump moved our embassy to jerusalem and brokered peace deals in the middle east. Socialistcoddled dictators in cuba and venezuela. President trump fights against communism in americas backyard and around the world. And on the communist party of china, there is no comparison. Joe biden aided and abetted chinas rise for 50 years with terrible trade deals that closed our factories and laid off our workers. President trump stands up to chinas cheating and stealing and lying. Joe biden allowed chinese fentanyl to float across our southern border. President trump sanctioned chinese drug dealers for poisoning our kids. Joe biden said chinese even ours are not competitors, are not bad folks, just months before they released this plague on the world. Trump the fire is clear right about the chinese threat and is making china pay, but china is up. Giving in fact, they are rooting for joe biden. But joe biden would be as wrong and weak over the next four years as he has been for the last 50. We need a president who stands up for america, not one who takes a knee. Istrong and proud of america a safe america. Safe from war. No one who has seen the face of war desires to see it again. Two many of our fellow americans on theeady honored hallowed grounds of arlington, but if we want peace, we must be strong. Weakness is provocative. President trumps strength has kept us out of war. Joe biden will not stand up for america. Donald trump will. This november, lets stand with the president and vote to keep america great. David that is senator tom cotton of arkansas, concluding his words to the Republican National committee. Another potential 2020 for 2024 candidate. You can see him there contrasting joe bidens Foreign Policy or his view of it with what he sees as Donald Trumps strength, talking about china and the middle east and make around the world to the case. David you will be staying with us as we continue our special coverage of the Republican National convention. David this is special coverage of the Republican National convention on Bloomberg Television and radio. President trump is a student of television, and inevitably, one of his measures of success is the ratings. To give you a sense of what ratings have been the first three nights of the convention, we welcome our chief washington correspondent. How is nielsen treating the president this week . Kevin not so good, especially compared to how democrats fared last week. Republicans have dipped in the ratings compared to last week. Quite honestly, they have also trended downward in terms of , buthas gone on last cycle the bottom line here is that in terms of the broader trend, when i talked to the republicans and democrats every speaking to an inside the white house before we came on air he said this Convention Cycle might dramatically reshape how americans not only view and consume the political conventions but also how the parties organize them. We could have the situation for thes from now where many of bases for how these conventions were organized could become the norm. I think its fascinating that not only have the that has the viewership been depressed, but that the democratic convention, which i think was less well produced than what ive seen at the Republican Convention so far, actually had higher ratings. Have anyhat did you data on the social media aspect of this . We know that that was popping higher during the democratic convention. Maybe the fundamental change is not the convention itself but how people view it. Kevin that is such a good point. In terms of where it goes, in terms of how people are consuming this, after democrats were able to triple the digital and print in terms of how they were precisely going to be able to consume this, but beyond that, republicans are also saying they are making significant inroads, significant gains in terms of viewership, but those parties are playing to viral moment, planning to catapult some of these moments and intoraising imprints. If it has the same effect as, say, whats happening in wisconsin, which has really been injected into the speeches this week, or even hurricane laura, which has also been injected into these speeches, i think one could make the case that those events have had just as much of an impact on this race than either of the conventions did. I was just said what thinking. Have there really been any viral moment out of the convention . It seems like some have come in via wisconsin or the hurricane, and you could say the same thing about the democratic convention. At the Republican Convention, they did not even have a Party Platform to vote on. It becomes more of a long infomercial versus something where you are getting this excitement or energy we have seen in conventions past, and i wonder what that says about what we will see four years from now. Kevin i think probably what went the most unnoticed was joe biden speaking to fundraisers earlier today, said that he is fully preparing to potentially hit the campaign trail in just a couple of weeks in battleground states where they would be able to work within cdc guidelines. To your point, maybe these conventions were less memorable than we think. David our contributors will be sticking with us. Right now, we are waiting for Alice Johnson to address the convention. Johnson was serving a life sentence for nonviolent drug crimes when President Trump heard about her situation and commuted her sentence. Now she will be speaking, i believe, about criminal Justice Reform, something that has been important to this president who made Real Progress in that area. Im not sure trump the fire always gets the credit for this. Was Jared Kushner actually behind this . Kim kardashian west was the one who was really behind it. She campaigned hard on this, anka andto jared and iv through that were able to get this on Donald Trumps plate. This is as close to being celebrity clemency as you can get. David yeah, its a fascinating story. Its pretty touching. Its a very touching story and donald trump does deserve credit for the criminal justice bill. That was a major milestone. Here is Alice Johnson right now. Good evening. I was once told the only way i would ever be reunited with my family would be as a corpse, but by the grace of god and the compassion of President Trump, i stand before you tonight, and i assure you, im not a ghost. I am alive. I am well, and most importantly, i am free. In 1996, i began serving time in prison. Life plus 25 years. I had never been in trouble. A firsttime nonviolent offender. What i did was wrong. I made decisions that i regret. Some say you do the crime, you do the time. However, that time should be fair and just. We all make mistakes. None of us want to be defined forever based on our worst decision. While in prison, i became a playwright, a mentor, a certified hospice volunteer, and ordained minister, and received a Special Olympics Event Coordinator of the year award for my work with disabled women because the only thing worse than unjustly imprisoning my body is trying to imprison my mind. My transformation was described as extraordinary. The truth is, there are thousands of people just like me who deserve the opportunity to come home. I never stopped fighting for my freedom. My Christian Faith and the prayers of so many kept hope alive. When President Trump heard about me, about the injustice of my. Tory, he saw me as a person. E had compassion, and he acted free in body thanks to President Trump, but free in mind thanks to the almighty god. I could not believe it. I always remembered that god knew my name, even in my darkest hour, but i never thought of never thought a president would. When i was released on june 6, 2018, i ran across that road and hug my grandchildren for the first time. I will never forget that feeling. And then i remembered the promise i had made to the men and women i left behind, that i would never stop fighting for them, and i havent. I am using my voice to tell their stories, and i pray that my faith reminds you of those forgotten faces. Six months after President Trump granted me a second chance, he signed the First Step Act into law. It was real Justice Reform, and it brought joy, hope, and freedom to thousands of well deserving people. Hallelujah. My faith in justice and mercy was rewarded. Imagine getting to hug your loved ones again, and to think, this first step meant so much to so many. I cannot wait because we are just getting started. The nearly 22 years i spent in prison were not wasted. God had a purpose and a plan for my life. I was not delayed or denied. I wasnt destined for such a was destined i for such a time as this. I pray that you will not just hear this message but that you will be inspired by my story, and your compassion will lead those who arefor forgotten. That is what our president , donald trump, did for me. For that, i will be forever grateful. God bless you. God bless President Trump, and god bless america. Thank you. David that is ms. Alice johnson, a memphis grandmother sentence was committed commuted last year at the urging of Kim Kardashian west. Now we turn to nevada, a state int was solid the solidly the republican column until the 1980s but is now a true battleground state. Dean heller served for eight years as its republican senator. With you so much for being us. Give us your sense on nevada, where it stands in this election. Senator heller i had an opportunity to talk with a number of republicans. I think the base is still there. You can feel by the convention that the purpose is to try to expand that base. I think they spent the first days trying to solidify that base. Andit is time to reach out speak head on. Alice did a good job, but you can see them trying to push this now. David you know your state terribly well. Part of the reason nevada has been shifting as it. As it appears to have done is there has been a change in demography. Give us a sense of how demographics are driving the politics. Onyou are absolutely right that. Things are absolutely changing in the state of nevada. People are really trying to get outside, away from california, and you can see with the technology and the datadriven diversity we are doing in the economy throughout the state, we are getting a lot of new companies coming in from the bay area and los angeles. They are bringing their workforce with them. These are good people, but they have a tendency of bringing their voting habits with them. Out ofy want to get california. It is changing. It just means we have to work harder, and as long as we are prepared to do that, i think we will be just fine. How are people on the ground in nevada feeling about the security of their vote as they look toward these general elections . There was some consternation across the country, but i noticed some coming out of your state specifically. Are you hearing some of that . Its probably right now this is genie, correct . This is. It is probably the number one issue in the state of nevada. They just changed our election laws allowing for vote harvesting, meaning a stranger can help you vote and then walked out of your home with your ballots. I mean, what could possibly go wrong with that scenario . That has been a felony since the 1990s here in the state of nevada. Legislature just turned it into good governance. Theres a lot of people that are really concerned about what vote harvesting is going to mean and what impact its going to have on a viable election here in nevada. I want to ask you about the economy in clark county. Clark county is like a critical county for us republicans, and no industries were hurt more through the covid then hotels and restaurants, of which i think nevada and clark county is ground zero for the most employees in this category per capita in the world probably. Is it recovering . How is it looking . Will that impact be felt in the election . Thats probably the most important economic question we in the state of nevada right now. We are anticipating 25 of hotel chains out there are behind in their vent payments and making their mortgage payments. So different than in las vegas. We have 40 Million People coming to las vegas every year, and we are seeing a fraction of that. 20 , 25 of people willing to get on an airplane to fly into las vegas. Right now, we have about 11 major hotels in las vegas that wont even open because theres not enough is and is to keep them open. They are trying to draw people onto the strip as they get to some of the other casinos where they can get traffic out there, but its difficult. Tell you that unemployment in the state of nevada is 12 , 12. 5 percent double it and you are probably close to where we are. If i could just follow up, how do you think that falls on political levels . Obviously, part of Donald Trumps record as president has been to create jobs. He ran on that. It was one of his kept promises until covid. That unemployment is that advantage democrats, or are they going to say the guy is going to bring us back is going to be trump, so im going that way . Quick thats a great question, so im not quite sure. Trump has a Business Plan that is out there today to create 10 million jobs in the next 10 months, and he wants to create one million new businesses in that same period of time. Tell me what bidens plan is. His plan is to convince you that hes not donald trump, a bid that may get him elected, but he has no Business Plan out there. If you look at the margins, i think the stock market, trading at the highs that it is at right now is already discounted. I think they believe trump is going to win, but the people are specific in answering your question. In the month of july, we have the new reports for new Voter Registration in the state of nevada. More republicans registered in nevada than democrats, and this is what happens, i think, when the culinary unions, the teachers union, with so many people unemployed right now, they have less volunteers to get out there and to register voters. Everything just stays the same. I think you feel a conservative nevada tilt until these unions can get back in business. I think a lot of these unions, and a lot of these organizations that have a tendency of voting to the left, people have lost their jobs. They are going back to the states where they came in. Theres a lot of people from nevada who dont believe they are from nevada. They say they are from california, michigan, florida, and they are going back with the level of unemployment we have now. Does help donald trump. I believe it is the Democratic Base that is hurting in this recession and that they are actually losing voters as we speak today because theres no jobs in southern nevada. Trump,we now have ivanka the president s daughter, who has come out at the venue. She is giving her address right now to a very large crowd, it looks like, out there on the lawn at the white house. We will keep you up to speed on that as it develops. I want to ask you a different question, which is health care. Loomed large in a lot of races across the country. On that one, i think its fair to say, vice President Biden does have a health care plan. It basically says we want to get to more coverage and want to have a private option. What is the republican plan . Have we heard a plan from trumps or fire . Im not sure i caught it. You have asked the right question. I do believe that is the strongest message that democrats have right now, is that they do have a plan. That plan may be medicare for all, and like you said, if you like it or dont like it, what is the republican alternative today . I was in congress and in the senate, and we wrestled with that particular question. I dont think we answered it satisfactorily. I think its going to be a big, huge issue. I believe democrats have control of that particular message, especially when it comes to the cost of pharmaceuticals. Go out there, try to get on to whatever form of obama care that is out there right now and take a look at those premiums and you are on up unemployed, it is unaffordable today, and i think that question you just asked needs to be answered by donald trump, and i dont believe he has done that today. David really appreciate your. Eing with us coming up, coronavirus deaths in the u. S. Top 180 thousand people. What the white house has gotten right in their response and what it could have done better. We speak to the cofounder of home depot next. Plus, ivanka trump is right now. N front of the white house peoplebrated and where of all backgrounds, races, genders, and creeds have the chance to achieve their godgiven potential. This is the future my father is working to build each and every day. David welcome back to special coverage other Republican National convention on Bloomberg Television and radio. Income inequality has become an even larger issue in the United States as the coronavirus has the worldsbadly poorest has been hit. We know the pandemic has brought the u. S. Economy to the knees and President Trumps position is that he is best positioned to lead us. He impart wants to do that for tax cuts and he promised to return us to record low unemployment. The question is can he make the economy work for everyone. It certainly seems to be working for his base. A cbs poll showed 70 of Republican Voters say the economy is in good shape, in part due to data like that. The Unemployment Rate for democrats is near 12 . Republicans, a much lower 7. 6 . This, as you know, goes beyond partisan politics. Theres also the broader issue of inequality. You spoke to the former hewlettpackard ceo and a former president ial candidate herself about that earlier today. In the long term, we have issues that are holding our economy back. Our and equitable Education System is holding this economy back over the longterm. Racial injustice is holding this. Conomy back in the longterm communities that cannot participate, low income workers who barely can make enough to survive all that actually does hold the economy back. Lets tackle the income inequality part of this conversation first. We know that low income workers are feeling the most pain right now. Now, from february until employment for those making less than 27,000 he or has all in 16 . This is a massive divergence and President Trump has to make a case to the lower end of the spectrum that he can help them. The Peterson Institute for economic put out research on what would happen if you dont get renewed covid19 income support plans. They say that would lead to a drop in consumption and as a result, a 4 decline in total employment. Minority workers would be the most affected. White workers would see employment fall about 3. 9 . Black workers, its a larger 4. 3 percent decline. Not only does that underscore the need for more fiscal stimulus here in the u. S. , but also as we are seeing Racial Injustice issues coming to the forefront, we have to keep the economic part of that equation in mind. David thank you for the great conversation this evening. Ken langone, founder of home depot, has strong views on a wide range of issues including the economy and what it needs. About ifry concerned the rest of the world says america, we no longer want to hold your debt. And thehe fed Government Credit for doing what they had to do because the economy was in intensive care in march, april, may, and june, and the name of the game is to live to fight another day. I think we have done as much as we can do to give us a chance to recover, but the bigger issue the bigger issue to me is how do we deal now with the consequences of what we have done . For example, there may be a greater need for more stimulus, ok . I heard the other day we have people that work one or two days , and by virtuee of this last law, they were going to make 800 or 900 a week but not working. That is simple economics. Why the hell what i want to go to work if i can sit here and on televisionstin and make multiples of what im making by going to work . They did that because over the short term, this is what they had to do, and i commend them for doing it. They said we are dying of a massive hemorrhage. We have to figure out a way to stop the bleeding. In never never land. Im waiting to hear what powell says today. My guess is they are not going to be so aggressive on raising rates if inflation goes above 2 . In other words, i think low rates are going to be with us for a lot longer, beyond the recovery. Becauseabout that people are relying on their investments. I just saw the yield on 10year treasuries was 71 basis points. I can guarantee you one thing you buy a 10year bond right now, you are asking for losses. I dont know when rates will go up, but they will go up. Maybe im wrong. Maybe they will not. 71 basis points is a pretty good rate of return. World about a what about a world in which the fed says we are going to put our thumb on the scale on the side willing to they are let inflation rise above 2 . I say to you, how big is the difference going to be . Do in thatgoing to scenario is you are going to inflate inflation. Youre going to flip more money and more people. People are going to have. Ncentives i think we can say with a high level of certainty, none of us have been through this ever before. None of us. We are right now in virgin we cannot say what works and what does not work until after we have been through it. I think wenow are doing all we can do right now. I would be cautious that we dont let the party last for too long. David that was part of my interview with home depot cofounder ken langone. Right, ivanka trump, daughter of President Trump, is speaking to the convention on the lawn at the white house. Lets listen to her as we wait for President Trump who will all her. Despite fielding angry calls from the ceos of nearly every major pharmaceutical company. Now when we see attack at paid for by big pharma, my dad smiles and says to me, you know, we are doing something really right if they are hitting us so hard. [applause] this spring, our president saw that american crops were going to waste because Food Supply Chains were disrupted by the virus. He directed secretary perdue and me to find a way to get this nutritious food fresh fruit, vegetables, meat, dairy, to families most in need. Within a matter of days, we launched the farmers to families food box program, which has now delivered over 100 million meals into the hands of American Families. [applause] to protect the most vulnerable among us, i have worked alongside the president as he signed into law nine pieces of legislation to combat the evil of human trafficking. [applause] sidestood by my fathers at Dover Air Force base when we received our fallen heroes, and each time, it has steeled his resolve to finally stop the endless foreign wars. [applause] in thege the paradigm middle east, he took a fresh approach. I heard foreign leaders begged him not to move the American Embassy to jerusalem. Yet, he delivered on a promise also made and unfulfilled by past president s because my father knew that it was the right thing to do. Defying all expectations just weeks ago, he rewrote history again by making a Peace Agreement in the middle east, the biggest breakthrough in a quarter century. [cheers and applause] for the first time in a long time, we have a president who called out washingtons hypocrisy, and they hate him for it. Dad, people attack you for being unconventional, but i love you for being real, and i respect you for being effective. [applause] our president refuses to surrender his belief to score points with political elite. To my father, you are the elite. You are the only people he cares about scoring points with. If these problems were easy to solve, previous president s would have done so, but you dont achieve different results by doing things the same way. Washington has not changed donald trump. Donald trump has changed washington. [cheers and applause] america does not need another empty vessel who will do whatever the media and the fringe of this party demand. Now, more than ever, America Needs four more years of a warrior in the white house. [cheers and applause] tonight, i could not be more proud to introduce my father, a man i know was made for this moment in history. My fellow americans, our first lady and the 45th president of states, donald j trump. [cheers and applause] david we have been listening to ivanka trump, President Trumps daughter introduce him, and now the president and first lady come out to the balcony overlooking the crowd that has assembled on the lawn there. Standing ovation crowd large crowd. I dont have a number on it. I think i saw 1500, but i dont know. I just realized i dont see a lot of masks, but maybe they have all been tested very carefully, i dont know. Here he is, the president of the United States with melania trump, walking down the steps. He is expected to go for a full hour. We will see how long it goes and we will see how many applause lines there are, which could make it go even longer. Four years ago, he was the candidate some people did not give a very good chance of winning. Milani addressed in a bright green dress, contrasting with the American Flag behind them. There is ivanka trump walking across to her father as they stand on the podium. They are playing the country i love to say america because america is free somebody help me with that song. I know that song. Usa. E the trumps a fire has been out and about the entire week. We have seen him every night in one capacity or another, but reports are he has been going almost 24 hours a day. He is clearly very energized. Lets be frank he has been working from home a lot, too. Energy from the crowd and the crowd from him, i think it is fair to say, having been to one of those rallies myself. He is now unleashed. He gets to come out in a live venue at the white house. Some people feel its rather controversial that he is using the white house as a backdrop for what is undoubtedly a political speech. Hes going to lay out the reasons why he should be elected for a second term. He is not in a big rush to start his speech, i think it is fair to say. Any reactions to what we heard from ivanka trump . She gave a really rousing welcome to her father, who looks like he is going to speak any moment now. David four more years is the chant. We have heard that before, too. Thank you very much. Thank you very much. Thank you. Thank you very much. Friends, delegates, distinguished guests, please, i stand before you tonight honored by your support, proud of the extraordinary progress we have last fourher over the incredible years, and brimming with confidence in the Bright Future we will build for america over the next four years. [cheers and applause] evening with our thoughts are with the wonderful people who have just come through the wrath of hurricane laura. We are working closely with state and local officials in , arkansas,siana mississippi. While the hurricane was fierce, one of the strongest to make landfall in 100 50 years, the casualties and damage were far less than thought possible only 24 hours ago. [applause] and this is due to the great work of fema, law enforcement, and the individual states. I will be going this weekend and congratulations thank you for that great job out there. We really appreciate it. We are one national family, and we will always protect, love, and care for each other. Here tonight other people who have made my journey possible and filled my life with so much joy. For her Incredible Service to our nation and its children, i want to thank our magnificent first lady. [cheers and applause] [cheering intensifies] i also want to thank my amazing ivanka, for that amazing introduction and to all of my children ivanka, please stand up. [cheers and applause] and to all of my children and grandchildren, i love you more than words can express. I know my brother, robert, is looking down on us right now from heaven. He was a great brother and was very proud of the job we are all doing. Thank you. We love you, robert. [applause] show also take a moment to our profound appreciation for a man who has always fought by our valuesd stood up for our , a man of deep faith and steadfast conviction, our Vice President , mike pence. [cheers and applause] and mike is joined by his beloved wife, a teacher and military mom, karen pence. Thank you. [applause] my fellow americans, tonight, with a heart full of gratitude and boundless optimism, i profoundly accept this nomination for president of the United States. [cheers and applause] crowd [chanting] usa usa usa the Republican Party, the party of abraham , goes forward united, determined, and ready to welcome democrats, independents, and anyone who believes in the greatness of america and the righteous heart of the american people. [cheers and applause] wea new term as president , will again build the greatest economy in history, quickly returning to full employment, soaring incomes, and record. Rosperity [cheers and [applause] protectump we will america against all dangers. And we will reach for new heights of national achievement. Faith andkindle new our values, new pride in our history, and a new spirit of unity that can only be realized through love of our great country. [applause] pres. Trump because we understand that america is not a land cloaked in darkness. America is a torch that enlightens the entire world. [applause] here at our beautiful and majestic white house, known all over the world as the peoples house, we cannot help but marvel at the miracle that is our Great American story. This has been the home of largerthanlife figures like Teddy Roosevelt and andrew jackson, who rallied americans to bold visions of a bigger and brighter future. Within these walls lived tenacious generals, like president grant and eisenhower, who led our soldiers in the cause of freedom. From these grounds, Thomas Jefferson set lewis and clark on a daring expedition to cross a. Ild and uncharted continent in the depths of a bloody civil war, president Abraham Lincoln looked out these very windows upon a have completed Washington Monument and asked god, in his providence, to save our nation. Two weeks after pearl harbor, Franklin Delano roosevelt welcomed Winston Churchill and just inside, they set our people on a course for victory in the second world war. Nation,t months, our and the entire planet, has been struck by a new and powerful invisible enemy. Like those brave americans before us, we are meeting this challenge. We are delivering lifesaving well produce a vaccine before the end of the year, or maybe even sooner. [applause] we will defeat the virus and the pandemic and emerge stronger than ever before. [applause] what United Generations past was an unshakable confidence in americas destiny and an unbreakable faith in the american people. They knew that our country is blessed by god and has a special purpose in this world. It is that conviction that inspire the formation of every union, our westward expansion, the abolition of slavery, the passage of civil rights, the space program, and the overthrow of fascism, tyranny, and communism. This towering american spirit has prevailed over every challenge and lifted us to the summit of human endeavor. And yet, despite all of our greatness as a nation and everything we have achieved as a nation, everything we have achieved is now in danger. This is now the most important election in the history of our country. [applause] four more years four more years four more years [applause] pres. Trump thank you. At no time before has a voter faced a clear choice of two visions, two philosophies, or two agendas. This election will decide whether we save the American Dream or whether we will allow a socialist agenda to demolish our cherished destiny. [applause] whether weide rapidly create millions of highpaying jobs or whether we crush our industries and send millions of these jobs overseas, as has foolishly been done for many decades. Your vote will decide whether we protect lawabiding americans or whether we give free reign to violent anarchists and agitators and criminals who threaten our. Our citizens. And this election will decide whether we will defend the american way of life or whether we will allow a radical movement to completely dismantle and destroy it. It wont happen. [applause] at the democrat National Convention, joe biden and his railed americay as a land of social and economic injustice. So tonight, i ask you a simple question. How can the Democrat Party asked to lead our country when it spends so much time tearing down our country . [applause] in the lefts backward view, they do not see america as the most free, just, and exceptional nation on earth. Instead they see a wicked nation that must be punished for its sins. Our opponents say redemption for you can only come from giving power to them. Anthem spoken by every repressed movement throughout history. But in this country, we dont look to career politicians for salvation. In america, we dont turn to government to restore our souls. We put our faith in almighty god. [applause] joe biden is not a savior of americas soul. He is the destroyer of americas jobs. And if given the chance, he will be the destroyer of american greatness. For 47 years, joe biden took the donations of bluecollar workers, give them hugs and even kisses. [laughter] [applause] and told them he felt their pain and that he flew back to washington and voted to ship our jobs to china and many other distant lands. Joe biden spent his entire career outsourcing their dreams and the dreams of american jobs,s, off shoring their opening their borders, and sending their sons and daughters wars,ht an endless foreign wars that never ended. Four years ago, i ran for president because i could not watch this betrayal of our country any longer. I could not sit by as career politicians let other countries take advantage of us on trade, borders, Foreign Policy, and national defense. Our nato partners, as an example, were very far behind in their defense. But at my strong urging, they agreed to pay 130 billion more a year, the first time in over 20 years that they upped their payments. [applause] and this 130 billion will ultimately go to 400 billion a year. An secretary secretarygeneral stoltenberg, who heads nato, was amazed after watching for so many years, and said that President Trump did what no one else was able to do. Thank you. [applause] from the moment i left my former life behind, and it was a good done nothing but fight for you. I did what our political establishment never expected and could never forgive, breaking the Cardinal Rule of washington politics. I kept my promise. [applause] together, we have ended the rule of the failed political class. And they are desperate to get their power back by any means necessary. Youve seen that. They are angry at me because instead of putting them first, i very simply said america first. [applause] thank you. Office, wetaking shocked the washington establishment and withdrew from the last administrations job killing trends Pacific Partnership transPacific Partnership. I then immediately approved the keystone xl and Dakota Access pipelines. [applause] costlyhe unfair and very paris climate accord. [applause] and secured, for the first time, American Energy independence. [applause] we passed recordsetting tax and regulation cuts at a rate nobody had seen before. Within three short years, we built the strongest economy in history of the world. Washington insiders asked me not to stand up to china. They pleaded with me to let china continue stealing our jobs, ripping us off, and robbing our country blind. But i kept my word to the american people. We took the toughest, boldest, strongest, and hardest hitting action against china in american history, by far. [applause] they said that it would be impossible to terminate and replace nafta. But again, they were wrong. Earlier this year, i ended the nafta nightmare and signed the brandnew u. S. Mexico Canada Agreement into law. [applause] now, Auto Companies and others are building their plants and factories in america, not firing their employees, and not deserting us for other countries. [applause] in perhaps no area did the Washington Special interests try harder to stop us then in my policy of proamerican immigration. [applause] but i refused to back down. And today, americas borders are more secure than ever before. [applause] thank you. We ended catch and release, stopped asylum fraud, took down human traffickers, who prey on women and children, and we have deported 20,000 gang members and 500,000 criminal aliens. [applause] we have already built 300 miles of border wall and we are adding 10 new miles every single week. The wall will soon be complete, and it is working beyond our wildest expectations. [applause] we are joined this evening by members of the Border Patrol union, representing our countrys courageous border agents. Thank you very much for being here. Thank you brave, brave people. [applause] usa usa usa usa pres. Trump you see, this country loves our law enforcement. They do. [applause] thank you. They really do. Love and respect. [applause] the i learned that Tennessee Valley authority laid off hundreds of American Workers and force them to train their lower paid for and replacement, i probably removed foreign replacement, i probably removed promptly removed and are back providing power to georgia, alabama, tennessee, mississippi, north carolina, and virginia. [applause] they have their old jobs back, and some are here with us this evening. Please stand. He went through a lot. Please stand you went through a lot. Please stand. Thank you. Youve been through a lot. Thank you very much. Last month, i took on big pharma. [applause] you think thats easy . Its not. [laughter] and signed orders that will massively lower the cost of your prescription drugs, and give critically ill patients access to lifesaving fears cures. We passed the longawaited right to try. Right to try. [applause] passed v. A. Accountability and be a choice. V. A. Choice. [applause] have great veterans our great veterans, were taking care of our veterans. 98 approval rate by our veterans. First time thats ever happened. By the end of my first term, we will have approved more than 300 federal judges, including two great new Supreme Court justices. [applause] ourto bring prosperity to forgotten inner cities, we passed reform, opportunity zones, and longterm funding of historically black colleges and universities. And before the china virus came in, produced the best unemployment numbers for africanamericans, hispanic americans, and Asian Americans ever recorded. [applause] and i say very modestly that i have done more for the Africanamerican Community than any president since Abraham Lincoln, our first republican president. [applause] and i have done more in three years for the black community than joe biden has done in 47 years. [applause] the bestim reelected, is yet to come. [applause] four more years four more years four more years four more years four more years four more years four more years four more years four more years four more years four more years four more years four more years four more years four more years [applause] pres. Trump thank you very much. When i took office, the middle east was in total chaos. Isis was rampaging. Iran was on the rise. And the war in afghanistan had no end in sight. I withdrew from the terrible onesided orion Nuclear Deal Iran nuclear deal. [applause] unlike many president s before me, i kept my promise, recognized israels true capital, and moved our embassy to jerusalem. [applause] but not only did we talk about it as a future site, we got a rather than spending 1 billion on a new building, as planned, we took an already owned, existing building in a better location. Real estate deal, right . [laughter] [applause] and opened it at a cost of less than 500,000. [applause] many things like that the government is doing right now. We also recognized israeli sovereignty over the golan heights. Achieved theh, we first middle east peace deal in 25 years. [applause] thank you to uae. Thank you to israel. [applause] in addition, we obliterated 100 of the isis caliphate and killed abu bakrer and leader, albaghdadi. [applause] then in a separate operation, we eliminated the worlds number one terrorist by far, qassem soleimani. [applause] unlike previous administrations, i have kept america out of new wars, and our troops are coming home. [applause] nearly 2. 5t trillion on completely rebuilding our military, which was very badly depleted when i took office, as you know. This includes three separate pay raises for our great warriors. [applause] we also launched the space force, the first new branch of the United States military since the air force was created almost 75 years ago. We have spent the last four years reversing the damage joe biden inflicted over the last 47 years. Record is a shameful roll call of the most catastrophic betrayals and blunders in our lifetime. He has spent his entire career on the wrong side of history. Biden voted for the nafta disaster, the single worst trade deal ever enacted. He supported chinas entry into the world trade organization, one of the greatest economic disasters of all time. Calamities,biden the United States lost one in four manufacturing jobs. We laid off workers in michigan, ohio, new hampshire, pennsylvania, and many other states. They didnt want to hear bidens hollow words of empathy. They wanted their jobs back. [applause] supportedesident, he the transPacific Partnership, which would have been a death sentence for the u. S. Auto industry. He backed the horrendous south korean trade deal, which took many jobs from our country, and which ive reversed and made a great deal for our country. He repeatedly supported mass amnesty for illegal immigrants. He voted for the iraq war. He opposed the mission to take out osama bin laden. He opposed killing seller many soleimani. And he cheered china as a positive development for america and the world. Some positive develop. Thats why china supports joe and desperately wants him to win, i can tell you that upon very good information joe biden and desperately wants him to win, i can tell you that on very good information. China would own our country if joe biden got elected. Theme biden, i would hold fully accountable for the tragedy they caused all over the world, they caused. In recent months, our nation and the world has been hit by the once in a century pandemic, that china allowed to spread around the globe. They couldve stopped it, but they allowed it to come out. We are grateful to be joined tonight by several of our incredible nurses and first responders. Please stand and accept our profound thanks and gratitude. [applause] many americans, including me, have sadly lost friends and cherished loved ones to this horrible disease. As one nation, we mourn, we grieve, and we hold in our hearts forever the memories of all of those lives that have been so tragically taken, so unnecessary. In their honor, we will unite. In their memory, we will overcome. And when the china virus it, hit, we launched the Largest National mobilization since world war ii, invoking the defense production act. We produced the Worlds Largest supply of ventilators. Not a single american who has needed a ventilator has been denied a ventilator, which is a miracle. [applause] job heading the task force by our great Vice President. Thank you so much, mike. Please stand up. [applause] we shipped hundreds of millions of masks, gloves, and count to our Frontline Health care workers to protect our nations seniors, we rest supplies, testing kits, and personal to nursing homes, we gave everything we could possibly give. And were still giving as we take care of our citizens. [applause] the army corps of engineers built field hospitals, and the navy deployed our great hospital ships. We developed from scratch their largest and most advanced Testing Systems anywhere in the world. America has tested more than every country in europe put together, and more than every nation in the western hemisphere combined. Think of that. We have conducted 40 million more tests than the next closest nation, which is india. We develop a wide array of effective treatments, including a powerful antibody treatment known as convalescent plasma. You so that on sunday night when we announced it saul that on sunday night when we saw that on sunday night when we announced it. You look at it and you look at the numbers, it has been reduced by 80 since april. 80 . [applause] United States is among the ofest case fatality rates any major country anywhere in the world. The European Unions case fatality rate is nearly three times higher than ours. But you dont hear that. They dont write about that. They dont want to write about that. They dont want you to know those things. Altogether, the nations of europe have experienced a 30 greater increase in excess mortality than the United States. Think of that. We enacted the largest package of Financial Relief in american history. Thanks to our paycheck protection program, we have saved or supported more than 50 million american jobs. Thats one of the reasons were advancing so rapidly with our economy. Great job. [applause] as a result, we have seen the smallest Economic Contraction of any major western nation. And we are recovering at a much faster rate than anybody over the past three months, we have gained over 9 million jobs. And thats a record in the history of our country. [applause] unfortunately from the beginning, our opponents have shown themselves capable of nothing but a partisan ability to criticize. Issue took bold action to a travel ban on china, very early indeed, joe biden called it hysterical and xenophobic. And then i introduced a ban on your, very early europe, very early again. If we had listened to joe, hundreds of thousands of more americans would have died. Instead of following the science, joe biden wants to inflict a painful shutdown on the entire country. This shutdown would inflict unthinkable and lasting harm on our nations children,