Carlyle Group Co-Chairman David Rubenstein Talks Bessent, Tariffs
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It is so loud here. We've been doing this all day. You come up here and you're the only one who's been doing this all day.

the only person we want to talk to. Because you know in all seriousness though David, we want to know what you think about some of the comments that we heard from Scott Besant earlier today and his message to investors. Did that message resonate with you? I think he did a very good job. Obviously the business people have been concerned about tariffs and not knowing where it's going to go.

He came out and basically more or less repeated what he had said in the Wall Street Journal article today, which is there are three elements of the economic program. One is tariffs. The other is tax cuts. The other is deregulation. And I think he did a really good job of explaining why all three mesh together. Now, they have to get these things done. But if they can get the tax cut through, they can get the deregulation they want through. I think the business community would be reasonably happy. The tariffs are still a bit...

of a problem for the business community because they don't fully understand what the end game is. But I think Scott Besson did a pretty good job. Obviously, Carlisle has a huge presence in Washington. You know how that city works. The business-friendly administration that was promised during the campaign, is that still intact or is that still going to show up?

I think the business community, by and large, is willing to give the Trump administration the benefit of the doubt. Because the business community, to the extent that business people tend to be CEOs and I'd say investors and Republican perhaps, they want to have this administration succeed.

They're a little bit confused about the tariffs, but I think they're willing to give the benefit of the doubt to the administration. Now, the tax cut bill is what people are focused on. And I will interview on a Bloomberg show soon the chairman of the House Ways and Means Committee, Jason Smith. And they are starting to get ready to have hearings and mark up that bill. And whether that bill goes in the direction the business committee wants, we don't know. But I think tax cuts are what the administration thinks is going to happen.

The question is, can you really afford it? Well, that's what I want to ask you, David. Can we afford with the deficit, the $37 trillion deficit? You can afford it if you, depends on how you massage the numbers. There's a $4 trillion number that they haven't figured out how to deal with yet, which is to say they want to make certain...

tax cuts permanent, but not count the $4 trillion as part of the deficit. That's an unusual thing to do. Maybe they can get away with it. I don't know. Are the people you're talking to, though, whether it's on your shows, on Bloomberg, whether it's privately with regards to your business, are they still optimistic? Business people, by and large, tend to be optimistic by nature. They generally think things are going to be better than things are not going to be good. So I think people are

hoping that the administration could get the tax cut bill through, the deregulation through. They hope that somebody can come along and get some of these tariffs agreements agreed to. I think Scott Besant is a really smart guy. I think he's done a pretty good job so far representing the administration. I think he's their best voice on the economy by far. Has anyone approached you

about being involved in this administration, whether in a formal or informal role? I think that's not likely. This administration fired me from being chairman of the Kennedy Center. So I think probably I'm not the first choice. But no, I think my days of being in government are probably behind us. All right, David, really appreciate you stopping by. My pleasure. Thanks a lot. David Rubenstein. You're a good sport. Thank you. Thank you so much. Carlisle Group co-founder and co-chairman. Also, of course, the host of the show Peer to Peer. Conversations right here on

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