Billionaire Activist Tom Steyer Is Unapologetic About His Ambitions to Impeach Trump
*By Christian Smith*
Billionaire activist Tom Steyer is not apologizing for his campaign to impeach Donald Trump.
In an interview with Cheddar Monday, he dismissed criticism from certain Democrats that focusing on impeachment will energize the Republican base.
"Standing up for the Constitution and the American people" should be more important than campaign tactics, he said.
But Steyer is focused on both the immediate and the political long term.
If Democrats don't take back the House of Representatives next month, "this year is a failure," he said.
Otherwise, Steyer said, the thousands of hours and millions of dollars pumped into this election cycle will have been for nothing.
"We've just got to say that and own it," he said of acknowledging the urgency of the midterms for Democrats.
According to an August report, Steyer has poured more than $120 million into this election cycle primarily through his two political groups ー the "NextGen America" super PAC and the "Need to Impeach" campaign.
Steyer's game plan is to mobilize the millions of millennials who don't normally vote in an attempt to undermine President Trump, whom Steyer calls a "corrupt, lawless, and dangerous president."
NextGen America has spent millions of dollars engaging young voters in key battleground states like Florida. Millennials traditionally haven't shown up to vote in the same numbers as other generations, but Steyer isn't fazed.
"I am confident," Steyer said when asked whether he thought millennials would turn up at the polls.
To some, Steyer's well-oiled political machine might resemble the early outline of a possible 2020 campaign.
But the former hedge fund manager reiterated that his focus rests solely on the midterms ー at least for now.
"We are nose down through Nov. 6, 2018," Steyer said.
"I think anyone who is thinking about themselves instead of doing what's right and doing the work over the next two weeks, or over the past two months, really is missing the point."
For full interview [click here](https://cheddar.com/videos/how-billionaire-tom-steyer-plans-to-mobilize-his-political-machine).
Stocks began the week closing at session lows on a day when bond yields rose and President Biden decided to stick with Jerome Powell as Fed Chair. Bryan Lee, Chief Investment Officer at Blue Zone Wealth Advisors, joins Cheddar News' Closing Bell, where he breaks down the day's activity and discusses what the Fed now needs to do going forward.
President Joe Biden announced Monday he is re-nominating Federal Reserve Chairman Jerome Powell after weeks of speculation that he would choose Democrat and Fed Governor Lael Brainard to fill the role. Biden could be looking for continuity as the U.S. continues to grapple with COVID-19 and high inflation, and investors could be on the same page: markets and treasuries ticked up after the White House made the announcement. MarketWatch Senior Reporter Greg Robb joins Cheddar News' Closing Bell to discuss Powell's re-nomination, what we can expect from the Fed's December meeting, whether it will speed up its taper timeline, and more.
President Joe Biden named Jerome Powell, initially appointed by President Trump, to keep his seat as the chair of the Federal Reserve on Monday amid the ongoing challenges of the pandemic, inflation, and unemployment. David Beckworth, a former international economist for the Treasury Department and a senior fellow with the Mercatus Center, joined Cheddar to discuss what he sees as the practicality of Biden's decision. "What Powell brings to the table is he's built up political capital with Republicans and Democrats," he said. "It's easy for him to get the job done. I think in one way he was the path of least resistance for the president."
In a surprise turn of events, Elizabeth Holmes took the stand in her own defense on Friday and is expected to continue her testimony later today. Holmes, who founded a blood testing start-up Theranos back in 2003, faces 11 counts of wire fraud as well as conspiracy to commit wire fraud. Aron Solomon, Chief Legal Analyst, Esquire Digital joined Cheddar's Opening Bell to discuss.
Jill and Carlo cover the developing story out of suburban Milwaukee, where a speeding SUV careened through a Christmas parade. Looters get more brazen in San Francisco, the missing Chinese tennis star resurfaces, and more.
Michael Tubbs, former Mayor of Stockton, California and author of 'The Deeper the Roots,' joined Cheddar Movers to talk all about his new memoir, and his ongoing fight to make meaningful change in his community.
The House narrowly passed President Biden's $1.7 trillion Build Back Better bill, the largest expansion of the social safety net in decades. The final vote was 220 to 213, with only one Democrat joining all Republicans in opposing the bill. It now heads to the Senate, where it faces an uncertain fate. Jennifer Haberkorn, congressional reporter for the Los Angeles Times, joins Cheddar News' Closing Bell, where she breaks down the current version of the bill, where it goes next, and what it could mean for the country if it eventually reaches the president's desk.