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CNN.com - Transcripts

CNN.com - Transcripts

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Published by brashhorse7246


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YOUR MONEY

U.S. Economy Examined; McDonald's a


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YOUR MONEY

U.S. Economy Examined; McDonald's a

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Published by: brashhorse7246 on Jul 24, 2014
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CNN.com - Transcripts
Return to Transcripts main page YOUR MONEY U.S. Economy Examined; McDonald's and Wal-Mart Criticized for Low Wages; Family has HomeImproperly Foreclosed by Bank of America; Germany Sends Officials to U.S. to Examine SpyingProgram; New App Helps Those with Autism Communicate; Investigator Writes Book on JonbenetRamsey Murder; Barney's of New York Accused of Racially Profiling Customers Aired October 26, 2013 - 14:00 Â ETTHIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BEUPDATED.CHRISTINE ROMANS, CNN HOST: For everyone else, it's about a job, and jobs aren't coming fastenough -- 148,000 jobs added in September, 45,000 fewer than August.UNIDENTIFIED MALE: That pace of job creation is below what we can be fully satisfied with.UNIDENTIFIED MALE: Too many people are being left behind. That is undeniable.ROMANS: Also undeniable, America's cratering confidence. Just 29 percent of Americans say theeconomy is good. That's the lowest level of the year and a four-point drop since before the shutdown.But still Congress snipes.BOEHNER: We've got the whole threat of Obamacare continuing to hang over our economy like awet blanket.REP. NANCY PELOSI, (D-CA) HOUSE MINORITY LEADER: The Republican budget priorities thatwill cost jobs and even put more of a burden on the middle class.ROMANS: As we lurch from one manufactured crisis to the next, 11 million Americans are still out of work. The country with the best workforce and the best infrastructure will lead the 21st century.Hello, is anybody listening?(END VIDEO CLIP)ROMANS: Our Jake Tapper is anchor of "The Lead," Greg Valliere is chief political strategist for thePotomac Research Group. Gentlemen, nice to see you. Jake, let me start with you. Americans have areal confidence problem here. Everyone asks me if the problem right now is Obamacare or the lack of jobs or Washington politics. And the answer is yes. There's just overwhelming negativity rightnow. How does the White House move forward, Jake? JAKE TAPPER, ANCHOR, "THE LEAD": Well, it's going to be difficult for them. And we saw that withthe recent events and the government shutdown and, of course, the debate over the debt ceiling, I
 
think there are a couple of areas of opportunity for the White House to work with Congress. One issome sort of budget deal. I don't think that a large scale budget deal is in the cards becauseRepublicans seem dead set against any new revenue, and I don't think the White House will go alongwith any deal that reduces the deficit that doesn't also increase taxes in some way, even if it'sclosing loopholes.So I do think a smaller deal is possible, maybe some modest trims to social safety net programswhen it comes to wealthier recipients and also some spending cuts. And also, of course, there'simmigration reform which I think is an area where there can be serious movement. There ismomentum for it in the Senate and among the establishment Republicans in the House. The bigquestion is, will the conservatives, the Tea Party coalition in the house block it the way they did withso much having to do with the government funding bill and the debt ceiling debate?ROMANS: You know, Greg, you heard Jake's analysis is. I want to know your analysis and thepresident and his ability to take on his own party on entitlements. Maybe he'll be able to scale back the safety net for wealthier Americans. Will you get real entitlement reforms? Can the president takethat on?GREGORY VALLIERE, CHIEF POLITICAL STRATEGIST, POTOMAC RESEARCH GROUP: That'stough. Two things I'd say, Christine. Number one, I think you can't get a big entitlement dealwithout some revenues, and the Republicans are not going to raise taxes, end of that discussion.Number two, I think people probably have to get off this debate about maybe doing something to theSocial Security COLA, the cost of living adjustment. That's not going to happen. But there are otherentitlement savings, maybe some means testing, that I think could be part of this deal that Jaketalked about.ROMANS: Even a small deal could be ugly, guys. We're talking about things that have been real andtractable problems for several years now. Jake, has the tone shifted? I mean, the president changingthe subject to immigration reform, maybe that's, you know, a good sign, but has the tone shifted?TAPPER: It's kind of like if you're in a bad relationship and you stay in that bad relationship hopingthat it will get better, and five years later all you have is five years worth of nasty memories andthings to bring up. That's kind of the relationship of President Obama.ROMANS: Love advice from Jake Tapper on the program.TAPPER: I'm talking about previous girlfriends not my current wife, or only wife.(LAUGHTER)TAPPER: But the idea that -- for instance, I've asked Republican congressmen what about a deal?What about some sort new revenues? And the answer almost to a Republican is President Obamaalready got that. Look at the Bush tax cuts and the deal at the end of 2012 and the fact that taxes didgo up on individuals earning more than, I think it landed at somewhere around $450,000 a year.ROMANS: Right.TAPPER: They say there it is. That's the Obama tax increase. He already got it and they don't wantto talk about anything beyond that. If you ask Democrats, some of them say, well, the Republicansalready got their spending cut, look at the sequester cuts, those built-in budget cuts. They already
 
got their spending cuts. So right now there's a lot of baggage that I think is impeding any sort of attempt to come to the table and start dealing anew with new revenues or new changes to safety netprograms and spending cuts.ROMANS: Well, we all can keep hoping for progress and try not to be mired to the negativity. Niceto see both of you guys, have a great weekend.TAPPER: Thank you.ROMANS: There's more than just Washington that matters to your money. For other stories thatmatter to your bottom line, give me 60 seconds on the clock. It's "Money Time."(BEGIN VIDEOTAPE)ROMANS: More young people are just saying no to work. In 2000, 83 percent of 20 to 34-year-oldshad jobs or were looking. Today, it's less than 78 percent. Men are doing more grocery shopping andfood makers are taking notice. Darker packages, buzz-words like "ultimate" and commercials likethis --UNIDENTIFIED MALE: Eat like that guy you know.ROMANS: -- are designed to snag male customers.From singles bar to search bar, according to a new survey, 38 percent of Americans who are singleand ready to mingle have used online dating. Almost 60 percent of Internet users say it's a good wayto meet people, a 15-point jump from 2005.Good news for gas prices, they could fall to three-year lows if the current trend holds. But watch outfor airfares. You can expect to pay nine percent more this year for Thanksgiving travel.Tax season will be delayed thanks to the government shutdown. The IRS will start processingreturns around the end of January, a week or two later than planned. But that won't push back the April 15th deadline to file. And Lionel Trains chugging into cyber space. The 113-year-old brand is going digital with a new iPadapp and a new iPad game.(END VIDEOTAPE)ROMANS: Coming up, McDonald's caught advising full-time employees to apply for food stamps.We'll tell you the high price we all pay for low fast food wages and fast food prices next.(COMMERCIAL BREAK)ROMANS: As if the "Do you want fries with that?" economy was bad enough, but now workers areleft to ask, do you want food stamps with that? This week an advocacy group called Low Pay is NotOK posted a recording of a McDonald's employee calling the McResource help line. During the callthe operator advises the worker to apply for food- stamps and Medicaid.(BEGIN VIDEO CLIP)UNIDENTIFIED FEMALE: Do you have kids?

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