I mentioned microsoft reporting. You have four big names on thursday, amazon, apple, alphabet and facebook. Tech is the sector most likely it is see its earnings hold up. Care were theh sectors that posted profits and sales growth. All of that is priced in, which is why value stocks have outperformed in october for second straight month. Gina martin adams at Bloomberg Intelligence says Growth Companies are beating estimates more widely than Value Companies , but analysts are upgrading their forecasts more for the Value Companies and for growth. When value stocks do beat estimates, they outperform the. P 500 david weve been talking about the stimulus. Now it is pretty clearly off, at least until after the election. Our markets reacting to that . Scarlet we still see it in the equities because we are not getting we also see it in safe havens like the u. S. Treasury market. The 10 year yield is down for a third day. Also below its 200 day moving average, trying to get past that but we are not getting that breakout for now. David thank you very much for that report on the markets. The election is just a week away , with candidates crisscrossing the country together messages out and their voters to the polls. We welcome a veteran of those campaign, lanhee chen was policy director for mitt romneys president ial campaign and is now a fellow at the Hoover Institution and a director of domestic policy studies at stanford. Gives a sense. Youve been in one of these president ial campaigns. What are these campaigns focused on right now . Lanhee this last week is about all hands on deck. This is the opportunity both campaigns have to mobilize their base of support, as well as to make sure they are conveying whatever their closing messages. It is pretty clear the Trump Campaign has their closing message, they are attacking joe biden as a career politician who has never gotten anything done, and the joe biden folks are coming right back at the Trump Campaign, selling the president for his handling of covid and the economic downturn afterward. Both campaigns are out there with a singular message, as well as reaching out to those voters they know will support their candidate and making sure they get out and actually vote. That is a very important thing as we go to the close. David 2020 is different from any other year in so many different ways. So many things have gone on. Typically when you have incumbent, it is a referendum on the incumbent in the incumbents record. Are we talking about that all this point . We thought President Trump would be running on the economy. Lanhee certainly the Biden Campaign want it to be a referendum of trumps handling of covid. That is clear from their campaign messaging, what you saw from Vice President biden last week, from everything they are telling the American People through their campaign advertising, digital, they want this to be a referendum on trump and help trump has done. To talkident would like forwardlooking about the economy, what his plans are. In that sense is it is a typical incumbent Reelection Campaign in that you have one side trying to make it a referendum, and clearly the biden team believes there it a point of strength when talking about the trump record, particularly on covid. David as we go into this election there are so many things in question. The polls seem to indicate, fairly stubbornly, that the former Vice President has a lead, not just nationally, but even in battleground states, although it is narrower than the national number. Pew has a report out that the percentage of trump voters who are enthusiastic is higher than the percentage of biden voters. Is there an Enthusiasm Gap between these candidates . Lanhee i think that is the biggest source of concern for the Biden Campaign, which is at the end of the day we talked about mobilization. Mobilization is driven by enthusiasm. At this point it does seem like the enthusiasm for trump from his supporters is greater than the affirmative enthusiasm for joe biden. What we do not know is how strong the motivation is to vote against trump. You hear this often from biden supporters. I may not be that excited about joe biden, but i am cited about voting against donald trump. This will be interesting. It will look at the intensity of support for trump, and in some way the intensity of opposition to trump to help gauge how successful joe biden will be. It is not a traditional situation where you look at intensity of support for both candidates. , Vice President joe biden is not doing as well as President Trump. David jump forward to january and play out the alternative scenarios of a second term of President Trump versus a first term of president biden, specifically on policy. That is what you did for governor romney, and not just what the differences are in the policy but what can get done. What you think the biggest point of difference is and what can get done . Lanhee the biggest question will beat what happens with control of the congress commented particular control of the senate. It is clear the democrats will hold onto the house. The big question is can republicans hold the senate . If republicans hold the senate, it will make a big difference in terms of what Vice President biden can do, but he will be constrained. He cannot go as far to the left as some of his progressive base might want him to go. I have argued that might be good for biden, it might be good to have a Republican Senate as a foil to say we cannot get rid of the filibuster, we cannot pack the Supreme Court, we cannot go to singlepayer health care, we cannot do some of the things the Progressive Left once. For joe biden the Progressive Left wants. For joe biden there is an advantage of republican senator. If trump wins, he will have a Republican Senate because his coattails will carry the senators who are more vulnerable. That it will be business as usual, with one exception. I think the president will be looking at legacy. That is something that could be a powerful motivator for him to work with democrats. I think we could see a much larger stimulus, recovery package straight out of the gate. Action on Prescription Drug prices and medical billing. There are certain areas where i see the president trying to Work Together with democrats if he is reelected, and even if he has a majority in the senate. David what about infrastructure . Is that a place for these candidates converge rather than diverge or is this the silver chalice we can never quite find . Lanhee i think it is one of those where you would expect there to be more agreement, you wouldve expected something to have gotten done. I put this into the category of if trump is looking, if he gets reelected and he is looking to get something done whether it is bipartisan support, this could be an area he goes to, and the same way for Vice President biden, if he is looking to work for Republican Senate, this is an area where you might find agreement. , lot of this does come down ive been emphasizing to the constituencies ive spoken to, yes we left to Pay Attention to the president ial election. Look at the senate. That is where the rubber will hit the road in terms of policymaking in the bounds of the possible and impossible. David always great to have you with us. That is lanhee chen of the Hoover Institution. We will have live coverage of Election Night starting at 7 00 eastern time on Bloomberg Television and radio. Coming up that we continue our swing state look at wisconsin with republican congressman bryan steil. Ons is balance of power Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. This week we are ticking closer look at wisconsin as part of our swing state series. We welcome republican congressman bryan steil from the southeast of the state. We are taking a look at wisconsin. Give us your take on where the state is. I understand theres a bifurcation of rural versus urban and suburban. Rep. Steil there is a junkball going on in wisconsin and i think it will come down to Election Night and who turns out the most voters. What we are seeing on the homestretch is Republican Base is incredibly energized. People are ready to get out and vote. 50 of all people have probably already voted in the state of wisconsin. We are approaching that level of turnout with seven days to go. It will be a matter of making sure we get every vote across the line come in the few undecideds, to be reaching out to them and having this conversation about how we will keep america healthy, how we will get wisconsin back to work, and how we will keep our communities safe. David talk about your district. South milwaukee, a lot of suburbs. Give us a sense of where your district is. Rep. Steil the first Congressional District is a crosssection of the state of wisconsin. Three bluecollar family centered towns, it picks up rural areas in between, and then does pick up the Southern Suburbs of milwaukee like franklin, oak creek, greendale. You have a mix in southeastern wisconsin. David type of you are writing a question. We had the Supreme Court i have a viewer writing a question. We had the Supreme Court decided there were not been extension of counting absentee ballots. How will that affect the election . Rep. Steil people in the state of wisconsin know there is an election on november 3. People have been voting, leading up to the election people have an opportunity to vote on election day. Following the written law in the state of wisconsin makes it clear there are three ways devoted wisconsin, you can vote absentee early, you can vote in person early, or you can vote in person like you would traditionally do on election day , november 3. I think we will see record turnout in the state of wisconsin. There are three easy ways to do it and i am encouraging everyone to make their voices heard. David President Trump carried wisconsin, it was pivotal in 2016. Part of what the president said was will return manufacturing jobs, we will bring them back. Has he delivered on that promise, particularly in your district . You have background working in Manufacturing Companies . Rep. Steil i spent a decade working in manufacturing before i ran for office. Before we were punched in the face by coronavirus, we saw jobs coming back to the state of wisconsin, particularly along the corridor from the milwaukee report to the state line toward chicago. We have seen numerous companies. There was a groundbreaking of a Company Moving from illinois to wisconsin, there was news the maker of gummy bears is breaking ground in Kenosha County in southeast wisconsin, bringing jobs from International Aspects to wisconsin. We saw that by putting in place progrowth policies in washington, d. C. The work in front of us will be to continue to put in place progrowth policies, trade agreements that are in the benefit of workers and farmers like usmca so we continue to see job growth in wisconsin so everyone who wants a job is able to find one. David has the president delivered on what he promised. I want to go back to foxconn. There was a big thing, there is to be a big factory in your district, did that ever get built . Rep. Steil i visited foxconn just the other day. Those buildings are going up. Work is getting started. What we are seeing is all along the broader area we are seeing in Kenosha County and the southeast corner of the states significant Economic Growth slowed down by coronavirus. I believe what i will see is jobs continuing to come back as we ultimately defeat this virus. We have cutting red tape or getting trade agreements that are positive, we have competitive tax rates. Those are the kinds of policies in washington, d. C. We need to grow jobs in southeast wisconsin. We saw low Unemployment Rate environment. We saw the beginning of rising wages. People were optimistic before we got hit by coronavirus. I am optimistic that as we ultimately defeat this virus, we will continue to see job growth and wage growth in southeast wisconsin, which is positive, and i think that is showing the president s policies delivering for our state. David you mentioned kenosha. Many of us remember the shooting of jacob blake which was quite an issue for your state. Give us a sense of whether that is blank it all in this election, either on the side people claiming we need more racial justice, weve have been unfair to africanamericans, or the law and order issue. Rep. Steil i think i just lost the sound feed. David can you hear me . Rep. Steil i have you. We are chatting about kenosha. If you look at what is playing out, people everywhere have a right to feel safe. Everyone. What we saw play out in kenosha was at the beginning, First Amendment rights. That crossed the line into criminal behavior. That criminal behavior needs to be stopped. We need to make sure we hold those who engage in criminal activity accountable, we need to make sure we are bringing resources into kenosha to end the criminal destruction and reestablish Public Safety. There were three bad nights in the community of kenosha. I was aggressively advocating for additional resources. Our governor did not step up to the plate. President trump did provide assistance with additional federal resources such as fbi tactical teams, u. S. Marshals. When you flood the zone with those resources, when the president said enough is enough, what we saw as the reestablishment of Public Safety and that is positive for everyone in kenosha. No one wanted to see the buildings burned down, the destruction, the lossoflife in the streets of kenosha. Now we are at a time where the community is beginning to heal, to rebuild, and what we do is come together and rebuild the community of kenosha stronger than ever before. David will the issues surrounding the shooting be a factor at all in the election one way or the other or is it more about jobs and covid19 . Rep. Steil i think it is about three things. It is about how we keep america healthy, it is about getting wisconsin and the nation back to work, but idps is going to be thinking about how we keep our communities safe. We have seen some of these farleft policies calling to defund the police. I believe that makes us less safe. What we need to do is make sure we have the resources with our men and women in Law Enforcement to keep our communities more safe. That will be a critical aspect and on the minds of many people in the state of wisconsin. I am in madison, wisconsin. As i drove into this campus town , buildings are still boarded up in the city of madison. That does not make people feel safe. We need to reestablish Public Safety in our cities so people can go about their way of life, and i am standing with the men and women of lawn forces to make sure they have the resources to be able to do their job to keep our communities safe. David to come back to the election, President Trump prevailed in wisconsin by a narrow margin. It was critically important to him. Many analysts say that was because of surprisingly low voter turnout, both for Hillary Clinton and donald trump. As you suggest, there is much higher turnout this time. Does that bode ill for President Trump in this election . Rep. Steil i do not think it is an indication of which way it is going to go. I think what we will see is high voter turnout and it will be a matter of who gets there voters to the polls. The im spending my time in final seven days in the state of wisconsin is making sure conservatives make sure they get to the polls, whether or not that is in person early or they show up on election day. What we are seeing is high engagement, high voter turnout, the volume at a level 10 in the state of wisconsin. That is a positive thing. The more voices heard is good for our democracy. I think the president will win the state of wisconsin next tuesday. David one thing i agree with you, the more people vote, the better for the democracy, however it comes out. That is congressman bryan steil, republican from wisconsin. Be sure to check out our special on the swing state hearing friday at 7 00 eastern. But will also be Available Online. We turn now to ritika gupta for bloomberg first word news. Ritika joe biden thinks he may have a shot at doing something no democratic candidate has done something no democratic candidate has done in more than 40 years, when the state of texas. The democratic president ial nominee told in nbc affiliate in dallasfort worth that the campaign is put out a major effort in texas. President trump currently has a 3. 2 lead in the real clear politics average of polls, below the nine point margin of his own way and in 2016. Senators have left the capital for a short break, making it virtually impossible for a fiscal stimulus plan to be passed before the election. Nancy pelosi and secretary Steven Mnuchin continued to haggle over a package. The size of the plan in the language of the bill are the main sticking point. The Trump Administration once a 1. 9 chili dollar package, democrats want to . 4 trillion. It is becoming a familiar story for louise number cap once a a4 trillion democrats want 2. 4 trillion package. Hurricane zeta is the 27th named storm and what has been a very busy hurricane season. If it makes landfall in louisiana it will be the fifth named hurricane to hit the state this year. The u. S. Is pushing for closer ties with india. That country faces a prolonged border conflict with china. Mike pompeo and defense secretary mark esper met with on officials in new delhi ways to cooperate on Pandemic Response as well as changes in the indo pacific region. Global news 24 hours a day, on air and on quicktake by bloomberg, powered by more than 2700 journalists and analysts in over 120 countries. I am ritika gupta. This is bloomberg. David this is balance of power on Bloomberg Television and radio. Time for stock of the hour. We are taking a look at caterpillar. Shares of the Machinery Company are down, even though the company did better in the third quarter. Joining us to explain his abigail doolittle. Abigail it is it interesting reaction to have a stop down and one of the worst tracks on the day for the dow industrials and the s p 500, even though they beat. However, although the company is cautiously optimistic, they are not providing a 2020 one guidance or outlook. Investors not liking that. When we dig beneath the surface on the quarter, it helps to explain why they are not offering outlook. This has to do with the decline in Machinery Sales down 20 in september. The growth, the demand, especially in energy still very tepid, weighing on this company. One bright spot was china. They are saying stimulus from that country is helping to boost demand. Company, the ceo, despite not being despite being cautiously optimistic, theyre not providing outlook. It reminds me of 2018 when they said this was as good as it gets. That was correct. 2018 sales growth was the highest of last few years and this year expected to be down 27 . David staying with a similar company, 3m, they had their earnings out. 3m does a lot of work in china. They are not doing so well. Abigail another big drag. That is one reason the industrials are the worst sector , real divergence for the s p 500 in terms of sectors doing well in those doing poorly. 3m beat sales estimates. They have a Strong Demand for masks, respirators, other equipment they are producing, especially related to the pandemic. However, because of the expenses related to that demand, prophets missed, so investors not liking the sloppiness of that quarter. That stock is another one down, dragging its competitors as well, again explaining why the industrials are weak. David coming up next, what do ceos think about the election . We talk with rich lesser, head of the boston consulting group. This is bloomberg. You can go your own way go your own way your wireless. Your rules. Only Xfinity Mobile lets you choose shared data, unlimited or a mix of each. And switch anytime so you only pay for the data you need. Switch and save up to 400 a year on your wireless bill. With the carrier rated 1 in customer satisfaction. Call, click, or visit your local xfinity store today. This is balance of power. European stocks wrapping up the day. Lets take a look at what kind of trading session we had. Negative yesterday, and today. Two factors driving us, earnings and covid. Cases and hospitalizations are up in europe. Astality started to pick up well. The stoxx 600 off of session lows. A little more over the last couple days. To the individual markets, you can see a read across the covid story. An expectation that france will now see more restrictions in terms of what we are seeing around europe, likely to see and move toward almost a complete lockdown. That is being talked about around the continent. The cac 40 reflecting that. Yesterday, it was germany that really suffered with sap. European equities broadly selling off. One sector in positive territory, Everything Else negative. Getting bent down to the bottom end of the range in terms of european yields. Germany, 61. Getting down to those kinds of levels. On thursday. Ecb brent crude also catching a bit. We had some big selling yesterday. Lets talk about the big names that we have been mentioning. Reports coming out of the Financial Times that talks between lvmh and tiffany are back on. Always a suspicion that they were in for a better price. Starting to see confirmation of that. Lvmh down by half a percent. Positivewith numbers, hands on the dividend. That stock is up 3 . Unibail, if we see more restrictions, this is where people will not be going. Down by 4. 5 . That is a look at european markets. David we are mildly off on equities as well, with the exception of the nasdaq. Lets turn back to the election. The two candidates for president this year have laid out different vision for the economy. For a perspective on what the nations ceos are thinking, we welcome someone who deals with them every day. Rich lesser, ceo of the boston consulting group. Give us a sense of what ceos are looking at, what do they hope, what do they fear . Rich first, a pleasure to be with you today. I think the first fear right now is the coming weeks. Unlike any other election cycle i can remember, the risk of a contested election, where many, Many Americans questioned the legitimacy of an outcome were really thrown into disarray in the weeks following the election , is a risk. If your ceo is looking at that environment, what that will mean for everything on how we control the pandemic to how we roll out vaccines to how we get a stimulus bill passed, two questions about the legitimacy of the government, which flows through back to the economy, that is concerned number one in the short term. Coming through this period with a clear outcome, whatever it is, is important to leaders around the country in the Business Community. When you go beyond that, there are different agendas that will come to the fore. Im a bit will depend on the presidency, some on what happens in congress as well. Obviously, if there is a change in administration, if Vice President biden is elected, hes has a very different agenda to pursue, and the Business Community will be focused on making sure how that agenda can be done in a way to continue to sustain Economic Growth as well as a rebound from the pandemic in key sectors that have been so substantially affected. David as you know well, typically at this point in the election, it is the economy, jobs. President trump definitely wanted to run on that, but covid has displaced everything in the minds of voters. Is that true for ceos as well . Is covid number one right now . Rich it is number one. It is peoples lives. The escalation in virus infection rates over the last few weeks, now approaching 70,000 that translates into probably more than 1000 deaths a day. There is no sign we are taking bold actions to get that under control in the short term. In the mediumterm, we are hopeful that a vaccine will come along. You have the obvious health risk to your customers, workers, the communities in which you live. That is job one. Second is the impact on the economy. In the recent past, has been managed well. The u. S. Has done a good job with the response, back in april, the stimulus that was passed, but we are losing the after effects of that. The extra income that we are giving to consumers, we are losing that right now as it is wound down. We have to sustain the economic momentum that we have created. David as you talk to ceos, how much do they need, want, expect from the federal government when it comes to dealing with this virus . Do they want more of a plan, the way Vice President biden talks about . Do they think President Trump has just done what he can do and it is the virus . Rich they want more than what has been done already. Of course, not a uniform group, but in general, i think of the Business Roundtable that im a part of, and on the covid issues that we have done work, we need a stronger response from the government. Maskeded it in terms of wearing, which is one of the most important things we can do to keep people safe, provide more guidelines to states around behaviors that will help to protect the economy and people. Obviously, in the next phase, getting a vaccine through. It has been unique in our history the speed it has been done, but the next page hard as well. Tracking,tter tracing, testing. The Business Community believes for the federal government to try and bring down the great the rate of infection and get us through this very difficult fight phase until we can have a vaccine, and then we focus on accelerating the rollout. Bears repeating, ceos are not homogeneous, different people have different points of view, but over all, that concern to get our hands around this, control over it, does that encourage the government to take mandatory action, as opposed to issuing guidelines . Rich i think probably most ceos would say mandatory may be a step too far for many, particularly in a disease where immunity by community the impacts are so different. The ability to say that this community should stay open and that should impose more restrictions that is a tough call to make for a country as big and diverse as the u. S. Is, and with a virus that hits communities differently. Where there is an expectation is sharper expectations and underlying foundations on how to test, track, and trace effectively, so you can do it across state borders, have it be more consistent, and when it comes out to the rollout of a vaccine, priorities around which segments of the population needed first, how we are managing to do it, particularly if we have to deal with cold chamber issues, booster shots. These are complex issues where the federal government could make an enormous difference, versus 50 states and local communities trying to figure it out on their own. David you and i have seen the stark differences in policy of Vice President biden to President Trump on things like corporate and other tax, infrastructure spend, investment, borrowing. From your dealings with corporate ceos, are they comfortable with the direction elected . , if as you point out, what happens with the senate may determine how far he can go. Rich i dont think a lot of ceos are feeling much comfort on any dimension. [laughter] this is one of the most uncomfortable years any of us can remember. The pandemic, geopolitical challenges, climate, Macro Economic shock we had come through, and know the uncertainty if we can keep the momentum going. I dont think comfort is in the operating lingo for 2020. When it comes to a Vice President biden, there will be questions about how he shapes his administration, much there is an emphasis on continuing to drive Economic Growth. Even policies that are broadly supported, like boulder action on climate, is more done by leveraging Market Forces or by imposing regulatory regimes that may not reflect the needs or the ways to sustain growth . Most leaders would view the results of this election as a change, but how to judge the change will largely depend on the choices that get made in the three to five months after the election, versus knowing how it will play out right now. David you advise some of the top companies, ceos about how to structure their businesses. Give some advice to Vice President biden. If he is elected, would you advise him to have at least one former ceo, somebody with business experience . It is speculated that a lot of people on his staff didnt have that experience. Do you think that is important . Toh i spend my life talking ceos in so many communities about how diversity in Leadership Teams leads to better outcomes. I believe it deeply, whether versed he in men and women, ethnic lines. In this particular case, in answer to your question, i deeply believe, if there were to be a president biden, if you were to build a more diverse leadership team, the country would go further, faster. There are massive challenges to sustain Economic Growth and take on the massive issues we have, whether racial, equity and justice, getting past covid, sustain the economy, the Business Community has a lot to offer. Not alone but as a part of a team that the new president would build. I have no doubt it would be stronger. I would say that to pretty much any leader, look at how you build more diversity into your leadership. Then they can operate as a team. Andg them together, listen learn from each other, work in the spirit of what you are trying to achieve. David thank you so much. That is rich lesser. The great divide in wisconsin. We will speak to Catherine Kramer of the university of wisconsin. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Continue our swing state series look at wisconsin with a student of the state. Is a politicalr science professor at the university of wisconsin madison. Professor, thanks for being with us. We are your students today, we want to learn as much about wisconsin, particularly politically. Talk about your book, the difference we have heard about between the ruble part of the state and the urban suburban. Katherine thank you for having me on. Wisconsin is a pretty rural state. Roughly half of the population lives in what you would call a rural space. The divide that i wrote about, which many others in the union are experiencing, is a perception in people in rural communities, the feeling that they are not getting their fair resources, political power, attention, respect. Fodder, it was kind of for President Trumps campaign, and he tapped into that sentiment pretty well. Many are watching to see if that will be the case again next week. David two questions. Are the people committed to donald trump as much as last time . Number two, are the people who are not committed to donald vote . More likely to last year, one of the issues was voter turnout. A lot of attention this time around. People who supported donald trump last time around, many of his supporters are still strongly behind him in wisconsin. I would say people that are more moderate, was more on the fence in 2016, it looks as though some of them are going for biden. What is going on here is a lot fewer people have yet to make up their mind. Last time around, one week out, there were roughly 6 , according to polls, that had not made up their mind. That number is much lower this time around. It looks like in early voting which there has been a lot of in the state it is trending toward the democratic candidate. There is still very strong support for donald trump, but the fact that Hillary Clinton is not his opponent this time around i think is important. She was pretty unpopular here, primarily in our rural communities, smaller communities. Joe biden seems to be a candidate that people dont have as a visceral reaction to. Trumpks like president has a real challenge here in front of him in the state of wisconsin. David you mentioned the absentee ballots, looks like a record in wisconsin and across the country. 65 million have already voted already. Overnight, we have the ruling of the Supreme Court declining a request to extend the time where you could count those absentee ballots. While that have a material difference in the election . Katherine it might. As many astand it, 300,000 requested ballots that are still outstanding. It could be more than that. What it means is that people who do not get their ballot back to their city clerk by election day, or do not get it to their particular polling place by the close of polls, 8 00 central time, that ballot will not be counted. It could be thousands of ballots. It could make a big difference. Have described the difference between the ruble part of the state and the urban suburban part. Different ins those two camps, or is it just about who would handle it better . What is the top issue, covid19 . Katherine it is hard to tell in a way. How people respond to that question of what is the most important issue is so strongly divided along partisan lines. Republican say it is the economy by far. People who lean democratic are saying it is the pandemic. Partisanship is very strongly correlated with geography and wisconsin. The rural parts of the state tend to lean republican. It is harder to town. Depending on how you lean in terms of partisanship, that affects who you think is best able to handle those issues. Democrats say biden is much better on the economy and the pandemic. Republican say President Trump is the one for them. David i dont want to tempt fate, but what about the possibility of some resistance, social unrest at the polling places . We have heard rumors of people monitoring the polling places. There has been history, recently in kenosha, unrest. Are you concerned about that . Katherine a little bit, honestly. Wisconsin was known as a very civil im a nice state until relatively recently been we are very divided along partisan lines here. It is a purple state, meaning there is strong opinions on both sides and roughly equal numbers of people on both sides. Kenosha, racial justice, racial resentment, racial unrest is front and center in wisconsin in a way that i dont think it ever has been, at least not in the last 20 years. In kenosha, we had the shooting of an unarmed lack manned by a white police officer, followed by the shooting of three protesters by a young white man, two of whom died. How that will impact election day no one really knows. So far, most of the talk is rumors. I have to say, the fact that there was a kidnapping planned for Governor Whitmer just next door to us in michigan as people a bit on edge on what the possibilities really are. Than a different midwest the one i thought i knew. A delight to have you on, professor. That is Katherine Cramer of the university of wisconsin. Check out our special on swing states airing on friday at 7 00 eastern time, Available Online as well. This is balance of power on Bloomberg Television and radio. David this is balance of power on Bloomberg Television and radio. Im david westin. Now Amy Coney Barrett sitting as a justice on the Supreme Court of the united states, democrats are weighing their option to reform the high court. Should they win control of the white house and the senate, besides Controversial Court packing, there are some other issues as well. One idea is term limits for justices. There is just one problem that line from the constitution that says judges shall hold their office during Good Behavior it doesnt say it directly, but Good Behavior has always been interpreted to mean that judges would serve for life, unless impeached. The idea was a justice should be independent and insulated from political pressure. The problem is it has made Supreme Court nominations rare, and now they are highly politically charged. One proposal gaining traction is to create 18year term limits for Supreme Court justices, staggered so a new justice is confirmed every two years. Proponents say this could work by giving the retiring justice senior status and rotating them to a lower court. Three members of congress have introduced legislation to do just that, but noah feldman has his doubts. Represents a, that very problematic and doubtful reading of the constitution and of its intent. It doesnt seem to be consistent with our tradition of how we have come to understand Supreme Court 10year. Best approach the might be the oldfashioned one, wait until a seat opens up. It is very hard to use ordinary statutory reforms to change an institution that has its roots in the constitution. If you ask me if there is a mechanism or reform that stands out as simple and easy and would not break the Institutional Capacity of the court, i dont see one at the moment. David that was noah feldman of Harvard University and bloomberglaw. Com about possible reforms to the Supreme Court. Balance of power continues on bloomberg radio. The sbabe talking with administrator. This is balance of power on Bloomberg Television and radio. Senators have left the capital for a short break, making it virtually impossible for a fiscal stimulus plan to be passed before the election. Nancy pelosi and treasury secretary Steven Mnuchin continue to haggle over a package. The sides of the plan and language of the bill are the main sticking points. Trump administration wants a 1. 9 trillion dollar package. Democrats want to . 4 trillion. Amocrats think joe biden has chance of doing something that no democratic candidate has done in 40 years, when the state of texas. He told an nbc affiliate that the campaign has put out a major effort in texas. President trump currently has a 3. 2 lead in the real clear politics average, below the ninepoint margin of his win in 2016. Young voters are showing not seenm in levels since the 2008 election. The new paul says
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