Yesterday virtually certain that she would be the 45th president of the United States. So did basically the rest of the political world. Instead, this morning, the democratic nominee thanked a room of grief stricken friends and Campaign Members with tim kaine at her side. As she publicly conceded the race to donald j. Trump and wished him well as the soontobe leader of the free world. [applause] ms. Clinton donald trump going to be our president. We owe him an open mind and a chance to lead. Our constitutional democracy enshrines the peaceful transfer of power. And we do not just respect that, we cherish it. Many of you are at the beginning of your professional, public, and political careers. You will have successes and setbacks, too. This loss hurts. But please, never stop believing that fighting for what is right is worth it. And to all of the women, and especially the young women who put their faith in this campaign and in me, i want you to know that nothing has made me prouder than to be your champion. [applause] ms. Clinton to all the little girls who are watching this, never doubt that you are valuable and powerful and deserving of every chance and opportunity in the world to pursue and achieve your own dreams. According to the ap, michigan, new hampshire, and arizona are too close to call. Based on the results from other states, it does look like Hillary Clinton won the nationwide popular vote. While Donald Trumps unexpected surge in florida and the rust belt was enough to solidify the electoral vote. There was an extra cherry to the night for republicans, as they achieved a majority in both the house of representatives and the senate. Today at the white house, president obama called for the country tonight around the new leader. President obama now, everybody is said when their side loses an election, but the day after we have to remember that we are all on one team. We are not democrats first or republicans first. We are americans first. We are patriots first. We all want what is best for this country. That is what i heard in mr. Trumps remarks last night. That is what i heard when i spoke to him. Directly. And i was heartened by that. That is what the country needs. John mark, you and i were at Hillary Clintons punitive victory party, and we saw the mood shift from apprehensive to shellshocked. So my question for you, one is what the heck happened yesterday . And the second is, how is it so many people missed it so totally . Mark i think people in elite circles did not understand that donald trump had a chance to win. Second is, when the incumbent is below 50 , you would assume in a normal race that the challenger will get a lot of the undecided vote. I think a lot of people just do not read the polls that way. Kellyanne conway kept saying, she is well below 50. The last thing is that there is a Human Element to politics. These websites that aggregate goals and say Donald Trumps chances are at 13 . All they are doing is looking at polls. They are not watching the candidate and talking with voters. If you did that, you saw it was a changed election. You saw a candidate that was calling for change, and another that was a creature of the washington establishment. Mark i will push back on that last point a little bit. Donald trump got fewer votes in this election than mitt romney got four years ago. I want to focus on some numbers. We talk a lot about her numbers. She underperformed barack obama significantly with hispanic voters. And predictably with africanamerican voters. She underperformed with millennials by a lot. Most importantly, to my mind, the big bulwark against Donald Trumps massive coalition was that she was going to be the first democrat in history to win white, College Educated voters overall. She failed at that. She was supposed to win by a dozen, 20 points. Including every poll that we did. However, she ended up winning College Educated women and losing College Educated men. She only improved on obama with white College Educated whites by three points. Mark i think the lack of is as him for her is part of it. Part of it is that people did not see her as anything more than the same old establishment figure. I cannot prove this yet, and im not sure if i ever will be, but i think having a lot the conversation at the end being comey, onagain, offagain, just reinforced peoples view that this would be another same old same old. Someone they do not want to be in the white house. Stay tuned as two of bloombergs best political reporters join the show. They are up next. Mark welcome back. Joining us now are two women and superstars. Our colleagues that have gone through the entire president ial race covering american president ial politics. Margaret, who has covered the Clinton Campaign in new york, and jennifer jacobs, a senior political reporter who has covered donald trump. An incredibly emotional event today in new york. I was at the event for Hillary Clinton, and a lot of her supporters were in tears over what happened. Do you have any sense of why Hillary Clinton or robby mook or anyone else thinks she lost . I think it is a combination of factors, but i think part of the reason why they believed she lost is that it is a change year. She would have been a third term of obama. They also realized she could never get past the likability and trust issue that has followed her since the beginning. One candidate represents change, and the other one does not, it is every hard to win. It is also hard to enthuse black voters if you are not black. It is also hard to compare yourself to barack obama if you are not as charismatic as barack obama. And very hard to get past an email scandal before you even get out of the gate. Tell me about what your experience was of being at the trump event last night. It was a long time coming. All of these fans were waiting around, and they thought it was going to be a goodbye or farewell event. They waited,ited, and they waited. There was an open bar, so some had a good time with the drinks. There was a cake in the shape of donald trump. People waiting around talking. When pennsylvania was called, one outlet had called wisconsin and another had called pennsylvania. The crowd knew that donald trump had won, but no one had called it yet. People were just buzzing with excitement. When it was finally declared, there was a lot of emotion. People were just crazy pumped up and highfiving. It was very emotional. Many were stunned. They said there were not expecting this. They blamed us, the dishonest media. Me in particular, told them that he could not win. The were so many that were not expecting it. You could have seen a much more confrontational and defiant speech. Im not criticizing it, but why not take his big victory and talk about the wall or the immigration ban . Why did he go so soft . He has talked about unity on the campaign trail for quite a while. He has wanted to be seen as a republican who can bring everyone together. That is one thing he chose to use. It really is no different from what he has been saying all along. It is just who he is. One of the things we noted at the Hillary Clinton event was the sheer grief of a lot of folks that were there. Particularly among female supporters that felt crushed. Talk about what you sensed among those supporters . Last night, at the clinton event, it was almost the inverse of what you describe. I would say there were a couple of different groups in the audience. There was a group that were diehard Hillary Clinton supporters, and there were others that were not diehard. They may have begun as Bernie Sanders supporters, Elizabeth Warren supporters, but were so angry with donald trump in the groups that he had called out and disenfranchised, muslims, gay americans, and they thought a clinton win would be a repudiation, a snuffing out of his tactics. When they lost, and they did not see it coming, all of it was turned upside down. There was a fear, and inability to come to terms with what was happening. We have interviewed her team all along the way. Talking about the pressure of losing to donald trump, a person that they felt they could not lose too. You get the sense that those people will stay involved in politics, or will this be a scarring experience for them . I think they will stay in politics. I think it will double or triple their resolve. It is a devastating loss, and not just for Hillary Clinton. I think a third time would be too much. Not just for the clinton legacy, but also because this is a Barack Obamas legacy that is now in jeopardy. Not only because she was supposed to inherit it, but he also double down. He put all of his chips in her basket. She was supposed to be the heir to all of that. That looms large now. And in the biden household. We spoke earlier about what a Donald Trump Administration look like. Give us a couple of little nuggets of what you might be hearing of who will do what. They are talking about what next steps to take. They had not really planned on who will do what. As i understand, there have no major names that have been announced until next week. Donald trump do not want to waste the money on a transition. They have shelved this. And so there transition for the next few weeks are a little halfbaked. Today is just about regrouping. We have heard that Reince Priebus might come up as chief of staff. That popped up this afternoon. There are a couple of other names, as well. I will say one name, the name Chris Christie was being thrown around for weeks, and i made contact with him last night, and he was the happiest guy in the room except for trump. Newt gingrich was not on stage. I do not know why. Rudy giuliani came up later, so i do not think it was the most strict of choreography. I will say again, with all seriousness, i just want to thank you both. It is glad to have you both here, and to work sidebyside throughout the cycle. Jennifer jacobs, margaret, thank you both so much. When we come back, we will talk about what lies ahead for both parties after this. Joining us now is bill burton, democratic strategist, in a fetching pair of new glasses. And an old hat. Here in the studio is a man with a great smile and twinkling blue eyes, political media strategist and coexecutive producer of the circus, mark mckinnon. Bill, i will start with you. The question i was going to ask margaret. You know president obama pretty well. He devoted a lot of time, effort, and energy to try and pick up Hillary Clinton on his big, broad shoulders politically and drank her across the finish line. So now that everything he has accomplished the last eight years is in jeopardy, how do you think he is feeling about that . He felt that Hillary Clinton would be a great president who would carry on some the things he has been working on. But look, one thing we all know is that the electorate is a much different thing than we thought it was when we woke up. And theres so much anger out there. And there is such a feeling of inattentiveness to what is causing that anger that democrats will have to do some soul searching to find a way forward here. Specifically, bill, here is president obama, Mitch Mcconnell and donald trump are already talking about the first thing out of the gate in january is to repeal obama care. That must be a chilling thing for barack obama to hear that. Yeah, look, nobody wants that. For the americans that could Lose Health Care because of that or the access to health care at all because of preexisting conditions, i think people are very concerned. I think president obama is very concerned about it. That is why he signed it into law. You know, it is true that it did have some problems, but the problems can be fixed and people do not have to lose their health care. But i think that Mitch Mcconnell and donald trump will throw the baby out with the bathwater, and that will leave Many Americans out in the cold. If you think part of what is going on is populist anger at elite behavior, you have the bushes, who do not support donald trump. So, they are angry about that. Now, donald trump is elected, and they are supporting him. Doesnt that make people cynical about elites . Short, it makes them cynical about elites, but what i am really struck by is the shock in the surprise of the election itself, one thing that everyone talked about was that donald trump was going to lose. The disarray of the Republican Party. 24 hours later, the Republican Party is in better shape than it has been since 1928. We have all three branches of government for the first time in almost 120 years. But it is interesting to think about what kind of Republican Party it will be. It is antitrade, pro entitlements, there is going to be a big infrastructure bill. I remember how that went south on bush. If you were to call together three or four or five big democratic thinkers or strategists, and they need to create a new democratic strategy and direction. Who would you bring in the room besides yourself . I would start with don and hillary rosen. I would add in van jones. Any elected officials . Any red state democrats. There are not very many of them. Well, the new governor of north carolina. We need to be attentive to the fact that we have a big problem with middleclass, white voters that we have not paid attention to. And the Obama Coalition is never going to be the Obama Coalition again. We have to grow our share of electorate, and that has to include more middleclass white voters. We have to be focused on that. I felt like i was hearing that 24 hours ago from the Republican Party. We mentioned before, theres a bit of an irony to run as a populist, and then you move to the white house and you have to be president. From the federal government. How does that play out with donald trump riding in on that rhetorical horse . Arriving there, trying to keep the faith with the people that voted him in after saying he would shake up the establishment, but now has to run the place. With some real establishmentarians like paul ryan. That is what will make or break the first 100 days is the relationship between donald trump and paul ryan. I mentioned before, the idea of normalizing donald trump. How a lot of your colleagues and maybe you, criticizing people in the press you say that you cannot treat him like a normal president. He is being greeted tomorrow at the white house by president obama. Do they need to treat him like a normal person for the foreseeable future . I would hope any republican president elect would be treated with some level of scrutiny by democrats. I think that is true of donald trump. I was in college when Jesse Ventura was elected governor. I think he did a good job of trying to take the job seriously for a while before he spectacularly failed. I think donald trump will do the best you can to do the normal things that a president elect would do. Let me give you an example. Theres the ongoing legal suit with trump university. Should democratic Interest Groups and operatives be jumping all over that . Saying donald trump is corrupt . He treats little guy and little gal bad . Or should they give him a honeymoon . I do not think anyone deserves a honeymoon necessarily. I think if you broke the law, you should be accountable. That includes trump university, the fbi is looking into his ties with russia. There is the irs and his foundation. Do think the democrats should be doing research on that, pushing it out there, and trying to hurt him politically . I not arguing one way or the other. I am just curious about your posture. I am not saying to hurt him politically. I think if you broke the law, then he should be held accountable for it. In the real world, most americans or they can say, it will take care of itself. You say in the real world, but you are talking about washington dc. Politics happen in d. C. Every single day. If laws are broken, i think people should be held accountable. I think that will be the case for president elect donald trump when the chips fall with these investigations that are happening behind the scenes that we have not heard about. That did not interfere with the election. You think he gets a honeymoon just as a matter of fact . The customary, the short variety that most president s get . Not necessarily. There is that infrastructure bill, a big opportunity. A significant one. So, absolutely, i know this from working with the nonprofit sector, at this point in the country, they have said they do not care if it is a democrat or a republican. They just want to get some problems solved. I think a lot of people are getting that message. I give it until christmas. Can i just add on to what mark was saying . Before the election, we said that democrats have problems with certain segments of voters. I think there are legitimate questions to be asked, and they should be asking them. But if there is progress to be made, then democrats need to find a way to get aid out to those people that do not like they are getting attention from the people in washington. Starting in january, you will not have the white house, the majority. We do not know who the chair of the dnc is going to be. Who is going to be the leading spokesperson for the Democratic Party come january . If you can designate somebody . I think nancy pelosi has a strong voice. She will be out there. There will be a whole coterie of democrats speaking for the party. I think will be a variety of spokespeople. Everyone from Kamala Harris to Kirsten Gillibrand in new york. I think we are going to be auditioning a lot of different people to be the spokesp