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New Day
Control of the Senate Hangs in the Balance; Economic Recovery in 2021; Yo-Yo Ma on Healing Power of Music. Aired 8:30-9a ET
Aired January 01, 2021 - 08:30 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[08:30:00]
NIA-MALIKA HENDERSON, CNN SENIOR POLITICAL REPORTER: Then if Democrats do win those two Senate seats in Georgia, and that's a race that's coming up in the next couple of days we'll know, even if they win, it's still going to be a slim majority. You would have Vice President Harris breaking a tie.
So either way, if you're progressive and you think there's going to be some big ticket items that come out of this administration, this is going to be a centrist approach to policy and policy making with compromise at the heart of whatever Joe Biden does.
DANA BASH, CNN CHIEF POLITICAL CORRESPONDENT: You know, with the Trump era, I said I was out of the predictions business, but I'm going to make an exception and say that we've understandably been focused on the Senate because there is a runoff -- two runoffs. We don't know who's going to be in charge. And the Senate always, when it's razor- thin, is a big deal.
But I actually think the story is going to be much more in the House than anybody anticipated going into Election Day because, as Nia said, the Democrats' majority has gotten so much smaller, and, therefore, Nancy Pelosi and other Democratic leaders have very, very little wiggle room in how they can, you know, usually, you know, you both -- you all know this, you -- in general, the rules are such in the House that you can pass a ham sandwich if you want to, if you're in the majority.
I'm not so sure that's going to be the case because not just of the fact that it's a slim majority, but because of the nature of the new Democratic caucus. So many more progressive who beat longtime Democratic incumbents and those who are not going to take compromise for an answer.
JOHN BERMAN, CNN ANCHOR: That's a great point. We just don't know what it's going to look like. Nancy Pelosi, in theory, you know, these are her last two years in House leadership as speaker.
HENDERSON: In theory.
BERMAN: In theory. You know, she once promised that she would -- she would get out after this term, but we'll see what happens there. We'll see how she handles it. So, look, we already know that this inauguration, 19 days from now,
will be vastly different. Yes, Joe Biden will be sworn in at the Capitol outdoors, but no balls, no, you know, none of the inaugural balls, none of the really big outdoor parades, none of the events that we've come to expect over the years.
And I wonder, Nia, what impact you think that will have in terms of Democrats' ability to celebrate the moment. Do you think that it will feel less than?
HENDERSON: Well, what's interesting is I think much of the celebration you're going to see from Democrats came when Wolf Blitzer said that President-elect Biden was the result of this election. And you saw people all over the country pour out into the street, banging pots and pans, dancing and all sorts of things because of the sense of relief, the sense of joy that many Americans had with that news from Wolf Blitzer about the outcome of this election. So that will be that.
And, listen, whatever the inauguration looks like, it will -- it will look different. And our lives have looked different all this past year of 2020. So in some ways I think Americans are used to that -- used to that. They're thinking about their safety. They're thinking about their parents and grandparents' safety, their kids' safety. So that means that the kind of crowds that we're used to in celebrations just won't happen.
We'll see what they do. I mean we saw what happened with the DNC. It was virtual. It was kind of creative. It looked more like, you know, kind of things we see on social media and TikTok and those sorts of things. So, listen, this is a new era and Democrats in the country are, I think, getting used to it.
ALISYN CAMEROTA, CNN ANCHOR: Dana, I don't know if there's any way to sum up all of the political stories from 2020, to recap the year that has just been, that many refer to as sort of their worst year ever for a host of different reasons.
So what stood out to you politically?
BASH: You know, I'm going to go against the grain here and say that as -- as tumultuous as it was on the science front, on the, you know, economic front, which is the basics of society, kids not in school, people losing their jobs, all of those horrible, horrible things that defined and will always define 2020.
On the politics front, what stands out to me is how stable it was because from -- from the -- pretty much from the beginning of what was effectively the general election campaign, Joe Biden was up. And it didn't change. And, you know, that was related to the pandemic in a big way, but there were other reasons for it. And we didn't have the surprise that many expected because it's 2020 and it's Donald Trump and you always have surprises. So, politically speaking, 2020 and, frankly, the whole 2020 campaign ended the way we expected it, which in itself is unexpected.
BERMAN: I have to say, people forget, Joe Biden was in fifth place in the Democratic race, fourth or fifth place.
[08:35:03]
And then, three days later, he was the nominee. And I still don't know that the history has been written in a fulfilling way about that, about exactly how it happened. I'm waiting. I'm waiting. The pandemic kind of swallowed it all up. But there's so much interesting that happened over the last year, reported on by the both of you so well.
Dana and Nia, thanks so much for being with us --
BASH: Thanks, guys.
BERMAN: All 2020 --
HENDERSON: Thank you.
BERMAN: And we look forward to seeing you much more in 2021.
BASH: Happy New Year.
CAMEROTA: You too.
HENDERSON: Take care, guys.
BERMAN: So, millions of jobs, gone. Thousands of small businesses, shuttered. Will the U.S. economy recover from the pandemic in the new year?
(COMMERCIAL BREAK)
[08:40:07]
CAMEROTA: So it's a new year, but millions of Americans are heading into it without a job and hurting financially. The pandemic wiped out a decade of job gains. So will the U.S. economy recover this year?
CNN chief business correspondent Christine Romans has a crystal ball.
What does it look like?
CHRISTINE ROMANS, CNN CHIEF BUSINESS CORRESPONDENT: It says, yes, that 2021 (ph) will be better, you guys, by almost any measure. But it's going to be a dark winter before we get there.
You know, normally I sit with you guys and we start a new year with new resolutions, but really this year we're just trying to get back to where we started, right? The economy down 9.8 million jobs from February. And this chart really, really tells this story. Every month we talk about the jobs added and hiring has pretty much flattened here as the virus slows the economy again.
And you've heard me talk about this so-called k-shaped recovery. People with a job, people with stock market investments, they're doing great right now. They're thriving. But low-wage workers and minorities, they're the ones bearing the brunt of the jobs and the income loss. You know, you can just -- you can't forget these images from 2020 across the country. This is San Antonio. But we saw this played out again and again, food banks with the unprecedented demand.
The big question for me is, will the lopsided nature of the pandemic reverse this year? And we just don't know. A lot depends on the precipitations from the Biden administration and Congress.
But even people worried, you guys, about inequality, like Bill Gates, he's worried about inequality and that k-shaped recovery, but even he sees brighter days ahead.
(BEGIN VIDEO CLIP)
BILL GATES, CO-FOUNDER, BILL AND MELINDA GATES FOUNDATION: I do think that by summer the job numbers and the economic numbers will be quite strong because most things will be back to normal. You know, in the fall, you know, I expect we'll be able to open all schools even with face-to-face.
(END VIDEO CLIP)
ROMANS: That's why some of the -- face-to-face, that's important. That's why some of the biggest banks are forecasting the economy will grow anywhere from 4 percent to almost 6 percent this year. Guys, that would be a huge improvement from this year. You can see, the economy, it collapsed in the second and the third quarter this year. That's those big red lines. Bounced back again after that. But annual jobs growth, if it were to hit 6 percent, look, that would be the best since 1984. Also a year, John and Alisyn, that we were bouncing back after a terrible recession. 2021 will be the year of the bounce back.
BERMAN: So -- which I'm sure Joe Biden would like to see. What's he going to do to help it? What's the Biden agenda on the economy?
ROMANS: You know, I'm really struck, you guys, by the parallels here for Joe Biden because when he became vice president eight years ago, the economy was in tatters, millions were out of work and we didn't trust the banking system. We had lost faith in our institutions.
This time it's different. It's a health and jobs crisis. Of course, his first order of business then would be to get the virus under control. That's what they say they're going to do.
President Trump has said the economy and your 401(k) would tank under a Biden presidency. But even with Biden's promises to raise taxes on investors and wealthy people, corporate America expects a more stable relationship with the White House.
(BEGIN VIDEO CLIP)
AUSTAN GOOLSBEE, FORMER CHAIRMAN OF THE COUNCIL OF ECONOMIC ADVISERS: I think Joe Biden is a steady hand. There's not a -- if you are one of the people who was afraid that there was going to be rampant dysfunction, civil war, radicals on any side were going to take over, Joe Biden is kind of not the type.
(END VIDEO CLIP)
ROMANS: Someone who worked with him in the last financial crisis.
So Biden wants to raise taxes on rich people. He wants to roll back some of those 2017 corporate tax cuts. He wants to reward companies for bringing jobs and production back to the U.S. That would be a corporate tax rate of 28 percent. Still better than where it was, you know, before tax reform in the Trump administration. He wants tax breaks to return factories to the U.S. He wants the top personal tax rate to go back to 39.6 percent. He wants to expand the child tax credit, restore the first-time home buyers' credit and he vows not to raise taxes on anyone making less than $400,000, guys.
CAMEROTA: And, Christine, what about the wild card of China? Joe Biden's relationship with China and Washington's relationship with China.
ROMANS: Yes. So much of the Trump administration was just consumed by these trade wars with China and with our allies in some cases. The president-elect, he told "The New York Times" he would not immediately remove those 25 percent tariffs that Trump imposed on about half of China's exports to the U.S., but don't expect him to try to change China's behavior alone. You know, he's expected to work with American allies to pressure China instead of threatening America's allies at the same time and waging these multiple distracting trade wars, guys.
BERMAN: Christine Romans, thank you so much. Happy New Year to you and your family.
ROMANS: Happy New Year to you.
CAMEROTA: The healing power of music brought so much hope and strength to millions of people suffering through this pandemic. So we have a very special performance for you from the legendary Yo-Yo Ma when we come back.
(COMMERCIAL BREAK)
[08:48:50]
BERMAN: Early in the pandemic, world renowned cellist Yo-Yo Ma posted videos like this one on social media in the hope that music would give solace to those suffering all the loss and pain. These videos inspired his new album called "Songs of Comfort and Hope."
And Yo-Yo Ma joins us now.
Thank you so much for being with us. Happy New Year to you.
And as I was saying to Alisyn, one of the highlights of this last year was when you came on the show early on and really helped us in a way calm our nerves and heal when we were all suffering so much in the early stage of this pandemic. And I guess in some ways it's not a surprise because what you know better than anyone about music is music does have that power to heal and almost give you a hug. YO-YO MA, WORLD-RENOWNED CELLIST: It's true, John. I think from our
conversation just before getting on air, you know, I think we have our public selves, the selves that we present to others. We also have our private selves, our inner selves. And I think music addresses both, but addresses the inner side of our lives more so.
[08:50:05]
And, in that sense, to get a complete view we do want to have -- have both because then I feel the human sides of us, humanity, is better represented. Not everything in the world can be measured and I think music actually attempts to -- to deal with some of those things.
CAMEROTA: I agree. And it's also such a unifier. Everybody has an emotional reaction to music. It might be different kinds of music, but everybody understands that it operates on you in a different way.
And so what do you think this horrible past year of 2020 has done for musicians? Has it been -- and we've talked to some Broadway actors and everything who have lost their jobs. What's it been like for musicians?
MA: Well, I think it's been an incredible challenge. I think there are many musicians that are obviously not working. And -- and myself more or less included. And I think particularly it's hard for people that play in groups because in order to perform live, most often they play in closed spaces.
BERMAN: It's hard. I mean the live aspect of it is very hard. Thankfully with music, you can enjoy it and appreciate it without being there in person. And now you're contributing even more to all of us. You have a new album coming out.
What inspired you to make this?
MA: Well, I think it's -- it came as an outgrowth of what you had described earlier at the -- at the beginning of the pandemic and my very good friend Kathy Stott (ph), with whom I've been playing Cannist (ph) from England, we've been playing for 40 years. And I said to her, would you be willing to, you know, to do something and help choose and curate songs that actually are meaningful to people all around the world. And she came up with an incredible list. And saying that songs are wonderful ways to capture sort of nuggets and -- of -- almost like pills, memory pills, that take us to specific states of mind. And as we're thinking about the new year and where people are just usually at home celebrating, this brings us the idea of the many types of home that we have, whether it's physical or emotional or whether it's these are memories. And I think music has a way of giving that kind of solace and comfort and joy and caress that -- that is missing when we're not able to be with our loved ones.
CAMEROTA: Oh, my gosh, it's so true. The transportative power of music to take you out of whatever situation you're in and, you know, pull you to the past or to a more blissful place. I mean it is so special.
And so you are going to, I think, set 2021 off on the right note for us. You've generously offered to play us a song from your new album. So tell us which one you'll play.
MA: Well, I'd like to play this song "Going Home," which actually comes from Dvorak's new world symphony. And -- and, again, speaking of home, I think there's so many aspects of that. But when we hear an orchestra play it, the English horn usually plays the melody and you'll hear it on the cello.
So here goes.
(Yo-Yo Ma playing his cello)
[08:55:34]
BERMAN: What a way -- what a way to begin 2021.
CAMEROTA: That was so beautiful. I'm choked up.
BERMAN: Yes, I have to say, it's going to be a great year. If this -- if this is what 2021 is going to be all about, it's going to be a fantastic year.
Our thanks to Yo-Yo Ma for that. Oh, how wonderful.
And thank you all so much for joining us on this special edition of NEW DAY.
CAMEROTA: We wish you all a healthy and happy and sane New Year.
CNN "NEWSROOM" continues after this quick break.
BERMAN: We did it. See you, 2020.
(COMMERCIAL BREAK)
