visit philipslifeline.com/caregiver today or call this number for your free brochure and ask about free activation. mark: i'm mark halperin. al: scott walker, he might have trouble standing out. >> walker. >> wakka wakka mark: the pride of wisconsin scott walker. moments ago, walker made his presidential campaign the real thing.

>> instead of the top-down government knows best approach you hear from so many, we need to build the economy from the ground up in a way that is new and fresh, organic and dynamic that says as long as you don't violate the health and safety of your neighbor, start your own career. live your own life. mark: our query, how did he do? al: pretty well. he played on the home court in venue and message. no one will confuse him with vince lombardi, but scott walker has to win the initial caucus. no one will have anything but praise for the speech from iowa. he touched the right notes and reached out. it was a solid performance. mark: i gave him a b plus.

he put on offer what he is selling, is the scott walker message. remarkably, no teleprompter. he gave the speech word for word. that is a message he has been honing for months. he didn't address on national security and what it means to take his wisconsin record national. he did not address that and i don't think he widened the message, but he gave people the message that has been his political touchstone so far. al: i agree. one of the interesting exercises, there are three current governors, for if you count bobby jindal. chris christie and scott walker and kasich, his people say they welcome the contrast. mark: the thing about walker is, he is so confident. i don't think i have met a

candidate as purely confident, interviewed his lieutenant governor, he has never shown doubt. that is the message the republicans will like. no doubt, against hillary clinton, it is a positive trait. al: hillary clinton gave an address at the new school in manhattan, calling for tougher regulations on banks and higher wages for workers. she took shots at her republican rivals, jeb bush, marco rubio, and the man of the hour, scott walker. >> you may have heard governor bush say last week that last -- that americans need to work longer hours. well, he must not have met very many american workers. they don't need a lecture, they need a raise. we hear republican candidates talk about tax reform. but take a good look at their

plans. senator rubio's would cut taxes for households making around $3 million per year by almost $240,000, which is way more than three times the earnings of a typical family. republican governors like scott walker have made their names stomping on workers rights. practically all the republican candidates hope to do the same as president. i will fight back against these mean-spirited, misguided attacks. al: what is the political strategy behind the speech? mark: she wants to take some from her husband's playbook some from obama's playbook, and force the republicans out of the center on middle-class issues and claim her policies would be

pro-growth. she made a good case for her vision of the economy, but make no mistake, a cousin of her worries about bernie sanders, it is a more liberal message than her husband put forward. al: the country is more liberal than it was in 1992 on those issues, minimum wage, tax increases for the wealthy. she cleared the needle effectively. she ducked the issue of trade, she will duck that throughout the campaign. mark: she wants to keep going after republicans and not engage with bernie sanders. the more she can frame republican economic policies the way obama did on romney and mccain, the way clinton did on bush, the better off she will be. if she can make the election about who is better for the middle class, it is her best chance to become the next president. i thought today she framed it as well as i have ever heard her do. al: i concur totally. mark: marco rubio says his

campaign raised $12 million through the end of last month. that puts him in third place overall. added some money to outside groups supporting rubio, he is shy of $44 million, behind jeb bush, up there with ted cruz. john mccormick reports those backing scott walker have not filed, but they may report up to $30 million through the end of june. those are outside. of everyone who has reported and we are still waiting for numbers, who is performing at or above expectations? al: jeb bush is in a league of his own. ted cruz is impressive, marco rubio not as much. still very impressive. hillary did what she thought she would do, bernie sanders, $50 million. pretty darn impressive. those who did not do well in the gop side, rick perry, $1 million.

rand paul, $7 million. carly fiorina gets a lot of notice in the elite press circles. ben carson out raised her three to one. mark: you would think she would do better. i'm surprised by the paul number. no one suspected that would be a huge number. walker and rubio and cruise -- and cruz, the second tier. a bit of a surprise. all three have done a lot. let's see how they do now in the first half of the year.

we will see how they do in the second half of the year as they are forced out on the campaign trail and have to raise money where they can't spend as much time with people. al: the candidates will have sufficient funds to compete in the february contest. what really matters is, whether they can keep it up. if it goes to april or may whether they will have the money then. mark: maybe only bush will be fully funded through the spring. ted cruz wants to be fully funded as well. al: coming up, scott walker city, population you, after this. ♪

mark: the waukesha walk-through, scott walker had a lot to say. let's break it down. what walker said about his record in wisconsin. >> since i have been governor, we took on the unions and we won. we lowered taxes by $2 billion. we lowered taxes on individuals, on employers, and property owners.

property taxes are lower than they were four years ago. how many other governors can say that? since i have been governor, we passed reform and regulatory reform. we defunded planned parenthood and passed her life legislation. we concealed -- enacted concealed carry. we now require a photo id to vote in this state. if the reforms can work in a blue state like wisconsin, they can work anywhere in america. mark: we know from focus groups, lots of residents in iowa for the recall fight. what other aspects of walker's record you think will stand out for voters? al: what he said today, that quickly showed, had the virtue of being true. that record is real.

the antiunion stuff will be huge among primary and caucus voters. cutting taxes, the old standby that works. a ratio that might hurt him, it seems like it is parochial, but he is for funding the milwaukee bucks arena. but he is against -- he is against spending for higher education. the milwaukee bucks are owned by billionaires. why'd you need public funding? pat moynihan said, one of the great ripoffs. ted cruz will go after him on that one. mark: walker and john kasich are darn proud of the records.

their approval is not skyhigh. they have to make what they did in their state's tangible. understanding why what you did in her state can be taken nationally, neither of them can say, i did this in wisconsin. make a president and i will do this in washington. bill clinton did that, bush did that. i have not heard any of the governors do that. that is a missing piece. moving on, looking at another bit of what walker said. three words, reform, growth, and safety. ask as i traveled this country i have to tell you. people are frustrated with politicians telling people what they are against and who they are against. america is for something and someone. let me tell you what i am four. im for reform, growth, safety. i am for transferring power from washington to taxpayers all across the country.

that is real reform. i am for building a better economy that allows everyone to live the american dream. that is pro-growth. i am for protecting children and grandchildren from radical islamic terrorism. that is the safety. my record shows i know how to fight and win. now more than ever, america needs a president who will fight and win for america. mark: walker has been using the word safety as a stand-in for national security for a long time. what do you think of it as a winning gambit to convince people he is ready to be president? al: when he wants said he could take on the islamic state, because he is taking on labor unions in wisconsin, he has a ways to go on national security. he has to pass the test. most governors do, reagan did in 1980.

i don't think walker made much headway today on that score. mark: the word safety, i don't like it. my instincts may be wrong, but i think he is trying to make it a kitchen table issue and talk about it in a way families can understand. but now, the world is dangerous. people don't want a stand-in word. they want to know what you would do about national security issues. trying to reduce facing off against vladimir putin to

safety, that doesn't work. al: he will have to address specifics. for all the talk about isis, are they going to send troops? lindsey graham says yes. we will see what scott walker and ted cruz and jeff dad -- jeb bush say. mark: walker addresses a hurdle. more of scott walker from today's speech. >> today, sadly, under the clinton, under the obama-clinton doctrine, america is leaving from behind. we are headed towards disaster. earlier this year, president obama declared, he proclaims the greatest threat to future generations is global warming. climate change. mr. president, i respectfully disagree. the greatest threat to future generations is radical islamic terrorism, and we need to do something about it. we need to stop the aggression of russia into sovereign nations. vladimir putin believes in the lenin principal, that you prove with the annex. -- with bayonets. putin has found a whole bunch of mush over the past few years. mark: this speech didn't make the case he is ready to be

commander in chief. what are the opportunities he will have going forward to convince people he is ready to do that part of the job? al: he will have plenty of opportunities. he will probably give foreign-policy speeches over the next few months. he has to, to try and show he has credentials. he will take questions. he will have to do that also. he will have to be specific. he avoided specifics today. most announcement speech is of -- speeches avoid specifics. mark: what do you think political advisers for jeb bush and marco rubio are saying today? does it worry them? al: i don't think they are worried by today's event. i think they will continue working on two questions.

he is a flip flopper. is he authentic? two, and you envision him as commander in chief? those are the challenges and potential vulnerabilities. mark: where he has flip-flopped, rhetoric and division on immigration and abortion, he didn't touch on them or touched on them only lightly. he knows those will come back and that is where he will be tested so often. walker is putting himself forward as an unbending man of principle. he has to deal with the implications. we'll be right back. we will break down hillary clinton's big speech after a word from our sponsors. ♪

mark: headlines from hillary clinton's big speech in manhattan. tough on banks and tough on the

republican candidates. she defined her economic mission if she is elected. >> the defining economic challenge of our time is clear. we must raise incomes for hard-working americans, so they can afford a middle-class life. we must drive strong and steady income growth that lifts up families and lifts up our country. and that, and that will be my mission. from the first day i am president to the last. mark: earlier today, we spoke with a long-time adviser who is the president of the center for american progress. talking about the economic themes. >> there will be more speeches to come. what was the point of this speech at this time?

>> hillary wanted to identify the central economic challenge we face, which is that, while we are growing and we can grow stronger, the challenge is incomes are not rising fast enough. she has ideas about how to do that, new ideas to add to the mix. but that, she wanted to communicate what her goal and priority will be. presidential elections are tests of vision. she is giving people a test of what her vision is. mark: there is critique of the general economic policy coming

out of the clinton campaign that is in opposition to president clinton. is hillary clinton for big government? or does she agree that it should be over? >> the truth is, these kinds of discussions about the size of government are besides the point. it is about how to make the economy work for people. you don't want a big government that is not working, that is not solution-safe. you want a government that is helping the private sector. that is how we create jobs. state, national, local governments help the private sector create jobs and ultimately raise wages. this was a bit of false debate on big government versus small government, we want an effective government that supports economic growth and not just economic growth, but fairness in the economy. middle incomes rise again. mark: is a right to say that what she is proposing will increase the size of the government? >> take profit sharing. it is realigning the incentives in our tax codes to ensure middle income employees, not just management but workers, benefit from profitable firms.

that is not really government mandating, it is not an increase in size, it is a way to great benefits. the focus on big government-small government is beside the point. mark: you chose one of the provisions that is not about extending the government, but let me move on. the move she made today, which she has done in past, engage the republicans rather than the democrats. are there ideas she is for now on the economy that are not popular within the democratic party? bill clinton supported free trade when he ran. can you point to anything she talked about today where she will need to sell democrats that it is the right idea? >> i think the reality is that democrats and independents are focused on the wage challenge and the economy. she has a perspective of ensuring a balanced budget over the long term.

the debate in the country, democrats and independents are more aligned on the topics. i think that is a strategic advantage. being a political, talking about this from the political side, i think there is a broader agreement between independents and democrats on the economy. some of the wedge issues are not what they were in the past. she has not addressed this, she is focusing on the concerns the american people have and is not thinking about alienating democrats or republicans speaking to one group or another. mark: in the context of this campaign, can we expect a deficit reduction plan from her? if so, what date? >> she will lay out the cost of her plan and how the fit into a budget framework that lowers the deficit. i am not ruling out her deficit

targets ahead of her, but she has always believed in being fiscally responsible. when she rules out her policy, they will have a budget reworked that lowers the deficit as we go. mark: but not get it down to zero, as her husband did and run a surplus? >> president clinton had a target, he achieved that target. perhaps hillary will do so, as well. mark: we will be right back. ♪

mark: go to bloomberg.com for your scott walker fix.

thanks for watching. this is a bonus episode of "with all due respect". until tomorrow, sayonara. ♪

>> returning as a ceo after the resignation of ellen pao. ♪ emily: i am emily chang, and this is "bloomberg west." and losing a pioneer, looking at the legacy of the nintendo head. and cyber security, leading at investment. i will be joined by the company's ceo. and a founder and ceo is here to