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00:00Since you've been a leader in the house you've dealt with three presidents. I completely and entirely respect the office of the president of the United States. There was a tax cut in the first year of President Trump's administration. This tax bill was a tax scheme of the highest magnitude. You just called Mitch McConnell and say let's have coffee and talk about where things are going. I don't drink that much coffee . You have been vilified by the Republicans once you get in that arena. You have been prepared to take a punch. I prepared to throw a punch too. Would you fix your tie please. People wouldn't recognize me if my tie was fixed but it just seemed to sway . All right. I don't consider myself a journalist. Nobody else would consider myself a journalist. I began to take on the life of being an interviewer even though I have a day job running a private equity firm. How do you define leadership. What is it that makes somebody tick how do you compare the relative pleasure of being the first speaker who a woman to the capturing and again of being the first speaker in 60 years to recapture the speakership. I have to say when I was running for leadership in the Congress for Speaker The last thing I could ever say to someone is you should vote for me because we should have a woman. You just had to prove that you would do the best job. But when it turned out that it that I became the speaker it was quite a a an overwhelming feeling that we had broken a marble ceiling in our country. I like to tell the story of that first meeting that I ever went to as a leader not not yet speaker but leader with President Bush as president and when I went into that was going to the White House to have my first meeting as a leader of my caucus. It was like unlike any meeting I had ever been to before. In fact it was unlike any meeting any woman had been to before in the White House because there was a small meeting the president the leadership of the House and Senate Democratic and Republican. But I was going in there not as an appointment of the president with my power and presence derived from the person but actually from the power of my caucus. So as I sat there President Bush ever gracious welcoming. I'm almost certain that I was squeezed in on my chair. It was so crowded on my chair I could barely acknowledge what he was saying. I was so distracted by what was happening and I realized that sitting there on that seat with member Susan B Anthony Elizabeth Cady Stanton Lucretia Mott Sojourner Truth Alice Paul you name it they were all there right on that chair and I could hear them say at last we have a seat at the table and then they were gone. And my first thought was we want more we want more. Since you've been a leader in the house you've dealt with three presidents President Bush President Obama and President Trump. So could you compare their relative different styles. How are they different . Well they aren't relative but I thank you for the question. I think it's an important one from a historical standpoint. Here's the thing. PRESIDENT First of all I completely and entirely respect the office of the president of the United States and I respect the people who voted to elect a president of the United States. We worked very closely with President Bush even though I disagreed with him mightily on the war in Iraq. But that did not prevent us from working together. President Obama of course is a Democratic president. We had a very special relationship then. But you still even though it's your own party have your differences of approach or degree or timing and whatever I pray for our country every day. I always have . But I do think that that there is something to be said for experience knowledge judgment and surrounding yourself with people who know. I would say people when they say they want to run for office and not just apply it to them. What is your vision for our country. Why why are you. What is your why . Why should we be attracted to what you have to say. What do you know about your subject. Your focus whatever your vision is or whatever your connection is to the public that in between your judgment is guided by evidence data facts truth knowledge and that is a place where we have some work to be done. He has not tweeted anything really negative about you and hasn't given you any name. Do you feel left out by not having a name. Well we have a courteous relationship as I say I respect the office that he holds the fact the public that he is the president of the United States. Let me just say this about. I do think that there are some areas that we can work together and perhaps that's why we still have a good shall we say courteous relationship lowering the cost of prescription drugs and building the infrastructure of America are two areas where I've had conversations with the president. So keeping the rapport courteous keeping it respectful I think on those tours which are our two priorities. The president has assured me that that is something that he can do. I think it is is it. That's the word I would use. You know you had a well publicized meeting with the president during the night before the government shutdown with Chuck Schumer and the president said he would take the blame if there was a government shutdown. Were you surprised he proudly. Were you surprised that that that that later on that wasn't the case should a shutdown of government should never happen especially one that happens for a period of a hundred thousand people did not get paychecks whether they came to work or not. They did not get paychecks. So to your point of did I think that was going to end up that we would open up government by the president signing the bill that we sent him . Yes. And you know why. Because of public sentiment. Abraham Lincoln said Public sentiment is everything. With it you can accomplish almost anything without it. Almost nothing. And the public sentiment was there too. The stories of the families the concerns of people who need it the services. What is the reason the Democrats do not want to fund the war time funding. Well we're talking about funding a campaign . Applause line. There was nothing serious scientific evidence based that a war was what was going to be the best way to secure our borders. We all are there to secure our borders. But just because the president said in a speech that he was going to have a wall in Mexico is going to pay for he seems to forget that part of it. But if they did a wall is not what is needed there from a standpoint of a sea to shining sea big tall wall impenetrable is is not the way we relate to other countries other people. And if you want me to start talking about Ronald Reagan and what he thinks about wars and immigrants really we have to be a model to women do not fear any of us have no fear . No your own power. Be yourself. Go out there and fight the fight because you know your why. You know why you decided to get into the arena you know what you care about. You know how to get a job done in the old days 20 years ago 30 years ago freshman members of Congress were generally thought to be quiet for a few terms . They weren't supposed to say very much. That seems to have changed. Is it difficult to manage the caucus when you have freshmen members who get so much attention. Is that a problem now. It's a joy. It's an integration. It's what our founders intended. Elections every two years and every two years. And I have to say this because I'm really proud of this that in the Congress of the United States this Congress we have over one hundred women members of Congress serving at the same time one hand over 100 men. It is a tax cut in the first year of President Trump's administration that the Democrats opposed . Now that you're in control of the house. Are you going to try to reverse that or do anything to pass any tax legislation . This Congress. Well the Ways and Means Committee will review the what we do about taxes in a larger sense at so many people come to us whether it's institutions of higher learning whether it's other philanthropically to say if we could only just fix this we can just fix this don't just fix this. But the worst thing you really just have to look at the whole tax bill and see what the decisions will be made as we go forward. It's important to note this however this tax bill is a tax scam of the highest magnitude. This has to be revisited not just because of the unfairness of it but also the impact that it has on the budget. Could we have worked together just say what is an appropriate lowering of the corporate rate and what's the impact on the economy and measure that. But no. Speed of light dark of night. Don't pass a bill with no hearings. So the ramifications were not well known to the American people. What is it like to get along with the Senate side the Senate side controlled by the Republicans. Can you just call Mitch McConnell and say let's have coffee and talk about where things are going if it doesn't work quite that way. I don't drink that much coffee . Well sit down have some chocolate let's say or something like that. Well David just gave me a box of chocolate as a welcoming gift so I said to him my kids and I made it has an import. We just made him an agreement the other day. If somebody gives you a box of chocolate as an act of sincerity you open it and start eating chocolate . Otherwise they think you're going to gift it. So is your magic chocolate I just couldn't resist. It's one of my passions here . I have a good rapport with a senator a leader McConnell because we were both appropriators so we can get along even though we have major in recent years. You have been vilified by the Republicans and people on the right. And I think in the most recent campaign one hundred and thirty two thousand ads were running. And you know just using your name. So does this elevate you in there . I mean this has been personally difficult for you to be so vilified or you actually take pride in the fact that they recognize you are very powerful. My grand my goddaughter Katie Meyer. She came she told me she was coming Katie Peterson. Hi Katie. Katie sent me something on my phone that I read this morning that said you said after the election but it said your power is the reason your opponents come back later or something like that. I do believe and this is what I say because I have set an example to other women said not to be too shy about things and assert yourself and take credit and the rest. But here's the thing. If I were not effective they wouldn't be doing these ads if they didn't have and b they fear me because I am a master legislator. I just know how to do it because that's what I was doing. I wasn't running for leadership I was legislator but I'm I have a following in the country that supports me at the grassroots level in and across the board. And so they have to take me down . So I have to show other women where in the arena you're in the arena. Once you get in that arena you I'd be prepared to take a punch if you appear to throw a punch too. But but really we have to be a model. Two women do not fear any of us have no fear. Know your own power. Be yourself. Go out there and fight the fight because you know your Why you know why you decided to get into the arena. You know what you care about . You know how to get a job done and you can draw support from other people. And that's why they come after me if I were if I were not effective they wouldn't take it. One hundred and thirty two is at one hundred thirty two thousand ads against me during that campaign. But we won a very decisive victory. Many people in the Democratic Party are running for president. Yeah you probably know all of them and you'd never consider running for president is that correct. You never considered or did you . No I didn't consider running for Congress so I thought these people many of them have positions that are being ise doesn't mean that people haven't suggested it. But anyway. So I shouldn't they come by and ask you for your advice and so will you. You're not going to support anybody before the nominee is selected by the party. Will you like will you endorse anybody before the party actually pick somebody. And it's not my intention at this time but I'll be just endorse all of them by saying that they they bring such values such strategic thinking such optimism and confidence about what they believe in to the discussion. But I do think. Don't tell anybody I told you this . I do think that the persons who will emerge will be those who connect. No I said vision knowledge and judgment. Strategic thinking plans. But who connects President Trump and his administration negotiated a revised nasty agreement known as U.S. embassy a. But it has to be approved by the Congress before it goes into effect. You think the House of Representatives will approve that deal. We have to see it first . I voted for the original NAFTA I took a lot of heat for doing it and I had some disappointments that didn't live up to certain aspects of it. But the four things that we have to make a judgment about. 1. What are the environmental considered consider the environment is important. The workers rights in both countries that's important and members are concerned about farmers health. Pharmaceuticals are treating those three things . But whatever is agreed to in those three areas the most important element of a trade agreement is enforcement. If you don't have enforcement you ain't got nothing because it's just a conversation. It's just a list of things. I don't know what this would be easy. It is not known why I made the trade agreement. I don't know what that OK the questions I don't leave you with a thought. This country is the greatest country that ever was. It can withstand anything Halliburton was a good friend of yours. And when she was on her deathbed she asked you to run for Congress. Did you ever had you ever thought of running for Congress yourself. And what did you and what did your children say when you said you were going to run for Congress today and your husband. Well here's the thing I never had no interest in our family in Baltimore Maryland. My father was in Congress a member from Baltimore when I was in first grade he became the mayor of Baltimore when I was at Trinity College. He was still the mayor of Baltimore . It was the only life that we knew and was about. We were born into a family who was devoutly Catholic fiercely patriotic in love with America proud of her Italian American heritage staunchly Democratic. And that connection between our faith and how we exercised our belief in the Gospel of Matthew when I was hungry for how we just treated people with a spark of divinity each of them having worthy of respect. We're all God's children that's how we were raised to have responsibility to other people . And that's what our parents instilled in us. But I never ever saw it nor did anybody else around me think that I would ever want to run for office. However I did volunteer in the Democratic Party to support other candidates. I never knew that Sala would want me to run for office. But when she did I was ready. So I say to people know your power when in your power count everything you've done including being a mom maybe starting with now your power. Be yourself. Authenticity is everything. Sincerity and authenticity is everything I try to be somewhat. Be yourself and be ready. You've got to be ready. You've got to let go . You had three children in living in Washington then and you said to them as I understand it while we can now all live together in a house we'll get the three children in Georgetown. Yeah. What did your children say about that idea. They said mother. Well first I just said it. So Sallah says to me you have to make me feel better if you would run a massive Sangha. I have never even thought about running for office. I'm I'm shy now so . So I so go home and talk to my kids. So I only have one at home . Alexandra said Alexandra. Mommy Mommy has the opportunity to run for Congress. I don't know if I will win. I just had the opportunity to run for Congress. I love my life. I love being here with you. So if you want me to stay for this land it would be easier if you were my one year in college. But if you want me to be here otherwise I'll be gone like three nights a week . Monday Tuesday Wednesday or Tuesday Wednesday Thursday of the week. So any answer is fine. I honestly mean that yes no I'm happy either way mother. So I knew I was in trouble right then there mother get a wife and this was 30 years ago I had never heard the expression before get a life. What teenage girl would not want her mother gone three nights a week . Oh so yeah. So then when I go to Washington I said we can all live together and this is that right. Mother we love our siblings. Not only do we not want to live with you we don't want to live with each other very college to live with our friends. So you're in Congress. We're in college. Why don't you just forget we're in the same city. Go home. Oh it must have been a thrill for your father and mother were still alive when you were elected. They came to see you sworn in is that right. Yeah yeah. My father had been a member close to my father was on the floor of the house when I was sworn in that was pretty exciting. I was pretty exciting and then he died a few months later I was so lucky that he was there to see that. Another was to obviously enjoy the job I do. How many more years might you do this. Ten 15 20. Any any limit. You think that I'm going to. I know that there is. Jerry Brown said this to me recently. He said there's nothing as limiting nothing as liberating as term limits . You just do what you do. I put my dad on a mission. I'm not on a timetable. I do have some other things I want to do in life. I'm the proudest achievement you have legislatively . Would that be the Affordable Care Act that you kind of shepherded through the house. Is that the Affordable Care Act . David this is like a pillar. Social Security Medicare Medicaid the Affordable Care Act not only 20 million more people having access to health care which we're very proud of but everybody in our country getting better benefits whether it's no preexisting condition limitation on access or ending caps annual caps or lifetime caps being a woman no longer a preexisting medical condition. I can tell you that as a mother of five in six years to almost to the day that that is considered I thought it was a sign of strength. They consider it a pre-existing. So final question what would you like American people to know about Nancy Pelosi. Well what my why . You know in terms of why I went from the kitchen to the Congress from housewife to House Speaker my Why is the one in five children in America lives in poverty having five children of my own knowing the love and concern and all that we gifts for our children. To me it was it's a disservice to every child in America to not be sure that every child in America has opportunity. And I just leave you with the thought that this country is the greatest country that ever was. It can withstand anything but we all have a responsibility. Thomas Paine said The Times had found us. The times have found us now too racy to channel the energies. Respect the diversity the differences of opinion in our country and always keep taking it back to the once the pluribus unum. So what I want them to know about me is that the reason I left home the reason I get up every morning to go into the fight is the one in five children live in part. I'd like to thank you for a very interesting conversation .

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The David Rubenstein Show: Speaker Nancy Pelosi

House Speaker Nancy Pelosi, a Democrat from California, talks about gender equality, why she first ran for office and her relationship with President Trump. Pelosi speaks on the latest episode of “The David Rubenstein Show: Peer-to-Peer Conversations.” The interview took place March 8 in Washington. (Source: Bloomberg)

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