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Gloomy Governors Conference; Toyota Recalls; Olympic Medal Quest; Credit Card Rules, Living On a Teacher's Salary
Aired February 21, 2010 - 16:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
FREDRICKA WHITFIELD, CNN ANCHOR: Hello, I'm Fredricka Whitfield. It is Sunday, February 21st.
You are in the CNN NEWSROOM. It is a convention but it is no party. The nation's governors are meeting in Washington but they can't get away from their budget problems back at home. The recession has slashed tax revenues and increased expenses and one governor warns that the worst is probably yet to come.
Sarah Lee is at the conference.
(BEGIN VIDEOTAPE)
SARAH LEE, CNN CORRESPONDENT (voice-over): An invasion of sorts from the governors descended upon the nation's capital for the annual winter meeting of the National Governors Association. On the ground and on the airwaves, making the rounds on the Sunday morning talk shows. They say that they are bracing themselves for the economic bottom to fall out for them. Despite projections by economists that the country's fiscal health is on the mend.
GOV. TIM PAWLENTY (R), MINNESOTA: The economy is a huge issue but so is the deficits that states are facing and that's making governors make some very difficult decisions.
LEE: These state chief executives say their outlook is bleak. State revenues are down because of job loss, plummeting real estate values and lack of consumer spending. All while being stretched by demands for services like Medicaid and food stamps and unemployment benefits.
GOV. CHARLIE CRIST (R), FLORIDA: It's all about jobs. No question about it. And, you know, I think for everybody, it is pretty simple, its the economy.
LEE: In fact, according to figures compiled by the NGA, states are expecting collective budget short falls of an estimated $134 billion over the next three fiscal years. And that January saw 18,000 state workers lose their jobs with more pink slips on the way.
GOV. BRIAN SCHWEITZER (D), MONTANA: And of course, we have people that have been thrown out of work. So we are actually looking for action. In states we have to move. We have to balance budgets and we have to educate, medicate and incarcerate. LEE: Billions in federal money have been targeted for states to help with those tasks and California's Republican governor is now calling out fellow party members for not acknowledging what the first round of economic stimulus has accomplished.
GOV. ARNOLD SCHWARZENEGER (R), CALIFORNIA: Well, I find it interesting that you have a lot of the Republicans running around and pushing back in the stimulus money. And saying this doesn't create any new jobs and then they go out and they do the photo-ops and they're posing with the big check and they say, isn't this great?
(END VIDEOTAPE)
WHITFIELD: And now, Sarah Lee joins us live now from Washington.
LEE: That's right, Fredricka. We are live outside where the conference is taking place right now. And you know, despite the partisanship that is going on in there, inevitably, all of the governors do know what's at stake. He or she must bring home jobs to their home states, especially when the states, 37 of them, are holding gubernatorial elections this fall. Fred.
WHITFIELD: And so Sarah, here you are in the nation's capital. Any chance any of these governors will have any face time with the president or at least get a chance directly to convey directly their grievances?
LEE: They will because we all know how Washington works on everything is accomplished around the conference room table. So the governors will actually get to put on their ball gowns and their tuxedos this evening for the annual governor's ball which will be at the White House later this evening and then tomorrow morning, they do actually have time in the White House to sit down for a closed door meeting with President Obama.
WHITFIELD: Sarah Lee, in Washington, thank you.
So according to at least one poll, most Americans think that their government is broken. 86 percent of the people who participated in a CNN Opinion Research Corporation survey agreed with that gloomy assessment but there was one bright spot. Even though most Americans think government is broken the survey shows that most Americans also think that the government can be fixed.
And in a similar poll taken four years ago only 78 percent said the government was broken. CNN polling director Keating Holland says most of this year's increase is among higher income Americans and rural Americans.
And an invitation for you to join us this coming week as CNN investigates "Broken Government." the cycle of partisan politics and the role independents may play in the current two-party system. That's "Broken Government" all this week. Right here on CNN.
All right. Several inches of snow in the forecast for parts of the Midwest. Let's bring in Jacqui Jeras where we know Midwesterners are used to a lot of snow. How different is this from the usual?
JACQUI JERAS, AMS METEOROLOGIST: Well, it is somewhat usual. One of the problems that we are dealing with is that we have had some mixing taking place. So we've been getting some rain and snow and sleet. And that's certainly impact the accumulation and at any time you get a mix like that, it can create some icy slick conditions underneath the snowfall.
And so that's going to be one of the big concerns with this storm as well as the fact that it is going to be impacting travel for a whole lot of people as we round out the weekend and then kick off the workweek. You can see the area of snowfall here, around the Kansas City area over towards Chicago-land. Not quite in Chicago just yet but I think we are just an hour or so away.
Here you can see south of the city some of that pink. That's that mix we were talking about. So we will see lesser amounts of the south side of Chicago and greater amounts on up to the north.
Here's a live picture, as you can see downtown. 34 degrees is your temperature. You are still dry in the city. We got fog in some of that occasional must. We do expect to see total accumulations could reach maybe three to six in the city and we could see those amounts again just to the north along I-88, I say and northward could see some higher amounts. Half a foot to maybe even up to eight inches or so.
If you are trying to travel today, look at these delays. O'Hare already having delays almost an hour and a half. San Francisco pushing an hour. 30 minutes in Detroit. 30 at JFK because of the winds there. And same story for you in Newark, about 20 minutes there. Now the storm system is going to be on the move. As we head in into tomorrow. We are going to watch some of this transition of that snow back on over towards that rain. Let's show you the forecast accumulation with this thing.
And it can show you some of the heavier amounts through the quad cities north of Chicago, near the Milwaukee area, and then just north of Detroit and I think Detroit itself could see about three to six, maybe four to eight again on the north side of town. Now, we do have another weather system that we are watching across parts of the west. We had a nice little break here yesterday into California. Here comes the latest in our series of Pacific storms.
By the way, it is a pacific storm that you are dealing with in the Midwest, too. You can see the rain coming down. Not too bad in Los Angeles area. We don't have any watches or advisories right now for the burn areas. But that will be something we are going to be monitoring very closely. And of course, this system moving towards the four corners tomorrow and, yes, making its way to the Midwest and eventually the east.
So we got a couple of these, Fredricka, that are going to hit just about every corner of the country in the upcoming days.
WHITFIELD: OK. Well, there's bright side, right? You know, bright light at the end of the tunnel. Especially spring and summer will come.
JERAS: I know. This is the last week of February. By the way. Can you believe it already?
WHITFIELD: It has been a tough winter I think everywhere, hasn't?
JERAS: I think a lot of people are ready for a whole lot of spring. Feels like spring in the east, by the way. Hasn't it been a great weekend?
WHITFIELD: I know it has been although we have been inside. But so I hear, it has been really nice out there during the daylight hours. All right, Jacqui. Appreciate it.
JERAS: Sure.
WHITFIELD: All right. $39,000 a year may not sound like a lot of money to some people but one teacher tells us how he is thriving on a very modest salary. That's coming up next.
(COMMERCIAL BREAK)
WHITFIELD: NASA is hoping the weather cooperates so that the space shuttle "Endeavour" can land in Florida tonight. Touchdown is set for 10:20 Eastern time. Rain and low clouds however are the big concerns. "Endeavor" and its six astronauts are returning from a bigger and brighter International Space Station. Here's CNN's John Zarrella.
(BEGIN VIDEOTAPE)
JOHN ZARRELLA, CNN CORRESPONDENT (voice-over): When "Endeavour" pulled away from the space station it was a bittersweet moment for the crew. With the shuttle program only months from ending, these six astronauts would not likely see the station from this view ever again.
BOB BEHNKEN, SHUTTLE ASTRONAUT: Each one of us took the extra moment to get a chance to take in that view of this completed space station at this point and really we are just in awe as we backed away from it.
ZARRELLA: When it comes to views, space walking astronauts worked to attach to the station a domed room with seven windows.
UNIDENTIFIED MALE: Terrific job. (INAUDIBLE) make it look easy.
ZARRELLA: The successful installation prompted Houston to hype up a little Jimmy Buffett tune.
(MUSIC PLAYING)
UNIDENTIFIED MALE: That's my window on the world. That's may window on the world.
ZARRELLA: The cupola, as it's called, will allow space station crews to more easily guide and dock robotic supply ships. As a bonus, breathtaking views of the earth.
STEVE ROBINSON, SHUTTLE ASTRONAUT: A round earth in three dimensions is spinning by below you and you see this beautiful space station almost kind of wrapped around you. And then this sort of other worldly looking space shuttle attached to that and so much to look at and so much changing that I don't think that the human race is really revolved to come up with adjectives to describe a scene like that.
UNIDENTIFIED MALE: Out of the side of your eyes and top of your eyes and bottom of your eyes in all directions you can see the earth and you can see space and you can see so much more than you can looking at just one flat window.
ZARRELLA: The mission's success prompted a job well done call from President Obama. The president was joined by a group of youngsters who fired questions to the shuttle and station crews.
UNIDENTIFIED FEMALE: Hi. I'm curious about the thoughts and emotions that you guys feel when you are in space?
BEHNKEN: For me, it was a sense of wonder as you explore what you can do in zero gravity and the things that you can see out the window.
ZARRELLA: With "Endeavor's" visit over, the space station is now 90 percent complete. The last four shuttle flights before the fleet is retired will be primarily to stock the station's cupboards and pantries.
John Zarrella, CNN, Miami.
(END VIDEOTAPE)
WHITFIELD: All right. Just in case you are counting, it has been 30 years since the last miracle on ice for the Team USA hockey. Can history repeat itself? We will go to the Winter Olympics to find out.
(COMMERCIAL BREAK)
WHITFIELD: A quick check of the top stories right now. The president of Toyota is expected to testify on Capitol Hill Wednesday about the company's massive recalls in the U.S.. Among the things lawmakers want to know, how long did Toyota know about safety issues before taking action? According to government data, 34 people have been killed in the U.S. from Toyota's sudden acceleration problem since the year 2000.
And the new head of the NAACP is the youngest person to ever hold the position. Roslyn Brock was selected yesterday to take the reins from Julian Bond who is stepping down after 10 years as chairman. Brock is a health care executive and is 44 years old. She says that she will make health care one of her priorities.
And the Obama administration is out with a five-year plan to rescue the Great Lakes. At a cost of more than $2 billion, the plan calls for repairing damage done to the lakes from years of toxic contamination, shrinking wildlife habitat and invasive species. Officials say the plan would make Great Lakes fish safe to eat and their waters suitable for drinking and swimming.
All right. Let's talk about the Winter Olympic games now. One of the most anticipated events so far takes place tonight. The U.S. men's hockey team takes to the ice against Team-O Canada. Joining us from Vancouver with more on tonight's happenings and what could follow, Mark McKay.
All right. Mark, we know the rivalry between the U.S. and Canada is just simply huge. But what's the expectation tonight?
MARK MCKAY, CNN CORRESPONDENT: Well, the expectation is that most of the people here in Vancouver will probably be off the streets and inside watching the host nation play the United States.
But Fred, we have some breaking news out of Whistler Mountain, you know, so much was expected and I can say that the U.S. ski team has exceeded expectations here at these games. They have had a great Olympics. Bode Miller had never won an Olympic gold medal until about 15 minutes ago. This just in from Whistler Mountain. Bode claiming the gold medal in the super combined race. He used a blistering slalom run to claim his first gold. So Bode Miller now has a gold, a silver, and a bronze from the games here in Vancouver. The Alpine team from the U.S. with eight medals so far.
Fred, you mentioned the hockey game. We're anticipating that. The U.S. against Canada. So much is expected of this Canadian team and so much pressure on them. Not so much for the visitors from the south.
(BEGIN VIDEOTAPE)
RON WILSON, U.S. OLYMPIC HOCKEY COACH: Yes, we are inexperienced and yes, we are young. But that can be a great advantage in a short- term tournament.
ZACH PARISE, U.S. OLYMPIC FORWARD: We might not have the flashy names of the Canadians or the Russians have but at the end of the day, it is going to be a good team.
RYAN MILLER, U.S. OLYMPIC GOALTENDER: I look at it as a chance for a lot of guys to make a name for themselves.
RYAN SUTTER, U.S. OLYMPIC DEFENSEMAN: In the past three Olympics, there's been six different teams in the gold medal games. So that right there really says how level the playing field really is.
MCKAY (voice-over): In fact, they need to look no further than last winter games in Torino where both the Americans and Canadians were levels themselves finishing out of the medals. (INAUDIBLE) Canada will change that this time around on home ice but where some see a lot of extra support, others just see extra pressure. PATRICK KANE, U.S. OLYMPICS FORWARD: I don't think that there would be anything better than, you know, U.S. going to Vancouver and stealing a gold off the Canadians.
DUSTIN BROWN, U.S. OLYMPIC FORWARD: People aren't going to be betting any money on Team USA. I think that's a good place for us to be in.
KANE: It's the 30th anniversary of the 80 team, the 50th of the 1960 team that won the first gold medal. So who knows what can happen. Maybe it is meant to be we win in 2010.
(END VIDEOTAPE)
MCKAY: Team USA against Team Canada and men's hockey, Fred, no medal on the line but how about that breaking news out of Whistler just 15 minutes ago. Bode Miller winning Olympic gold for the first time.
WHITFIELD: That is incredible. And talk about redemption for him after, you know, Torino. Really disappointing himself and a lot of others and this time he gets to leave with the trio, at least for now, a trio of medals?
MCKAY: No doubt about it, Fred. Yes. He said he began his preparations for the Vancouver games just last fall. A lot of people said OK, maybe that's really late in the game. What's that going to result in? He felt like he was going to peak at just the right time. Start your prep in September. He felt he would peak in February and we are certainly seeing it play out during the Vancouver games, Fred.
WHITFIELD: Wow. That was incredible. Another incredible athlete and one of the biggest stars on this Olympic games, Apolo Ohno. You know, with kind of a nail-biting short skate race last night. But still he's in the record books.
MCKAY: He is because he is the winningest Olympian now in Winter Games history for the United States. You know, Ohno says he was looking forward last night to seeing how he came from last in that race to claim a bronze medal in that short-track speed skating event. It was an electric atmosphere. I can tell you at Pacific Coliseum as Ohno now has seven medals passing Bonnie Blair. Blair was in the house and by the way, so was U.S. swimming sensation Michael Phelps. He had a front-row seat.
WHITFIELD: Saw that.
MCKAY: -- to watch Apolo Anton Ohno make history, Fred.
WHITFIELD: Well, that's incredible. And wait a minute, is Apolo Ohno - he's going to be yet at least one more race, right? Because isn't there a relay upcoming?
MCKAY: Yes. Maybe two more before he's done. You know, when he was skating last night he had those seven fingers in the air. Maybe he will have a few more before it is done. WHITFIELD: I love that, you know, the gold tipped gloves. Very cool stuff. Only he can pull that off. All right. Mark McKay, thanks so much. Look forward to the rest of your reporting throughout the week too as we enter the final week of the Winter Olympic Games. Thank you.
All right. Well, let's talk politics coming up. Can Democrats and Republicans, find common ground? That question is at the center of partisan bickering on Capitol Hill. Our deputy political director will be joining us right after this.
(COMMERCIAL BREAK)
WHITFIELD: All right. If you are traveling to Chicago or some other big city in the Midwest, heads-up. Snow is in the forecast. And it could cause a few headaches. Jacqui Jeras is in the weather center. As we said, Midwesterners are used to snow but it is never good when you are traveling, whether it is air travel or on the road, et cetera.
JERAS: Yes. People trying to get back from the vacations or whatever they were doing this weekend. And then trying to get out with the business travelers tomorrow. As you mentioned, Chicago, we do have delays there. O'Hare already. This is before the snow has even begun to fall, by the way. Just some low clouds and misty conditions. Visibility about three miles there. We also have delays.
San Francisco, Detroit, JFK in New York and Newark Airport in New York about 20-minute delays. So here is the culprit of what's been going on. This is a live picture of Topeka, Kansas where the temperature is 29 degrees. You can see some of those snow showers beginning to fly. Conditions getting a little icy in around Topeka and we got word of a D.O.T. truck went off the road in Lawrence county, just west of Topeka by about 30 miles.
There you can see where we have the heaviest snow accumulation. For the most part, it has been across northern Missouri into southern Iowa and now pushing into western parts of Illinois. Let's show you some of these snowfall totals that we receive so far. (INAUDIBLE) about six and a half, all the way down towards Kansas City which had three and a half inches of snowfall. You can expect to get another inch or two out of this.
And there you can see Chicago, we'll zoom in a little closer there for you, to show you south of town. We are getting that wintry mix of some sleet, snow, rain, all mixed in. Chicago, you're likely going to start with that. But then transition over to some snow and those heaviest accumulations will be then on the north side of the city.
So here is the big picture then for tomorrow. Showing you the storm moving off to the east. We will watch the Great Lakes, Detroit in particular, as well as Cleveland could see some of the heavier accumulations. Maybe you know, four to six inches here or so. We will watch for it rain here across the southeastern corridor. Expect delays for that as well. And we've got a weather system out to the west at this hour right now. Bringing rain across parts of southern California. And that moves into the four corners by tomorrow. And bringing more snow in those places that have already gotten in at least once this weekend.
The skiers are loving this. This could last, you know, well into March. You got to love skiing through March, maybe even into April.
WHITFIELD: I know. That's very nice spring skiing.
JERAS: It is.
WHITFIELD: You know, you talk about this precipitation. Nobody is welcoming the kind of precipitation that the folks are seeing in Portugal. Particularly the Portuguese island of Madeira. Officials says mud slides right here. This is unbelievable. Severe flash floods have killed 20 people and injured 120 others. Still there are many people missing, Jacqui, and 250 people were evacuated to military bases or other safe locations.
Are we talking about, you know, days of rain that led to this? Do you - do you know? We are talking about just one big, you know, deluge or what?
JERAS: They did actually. You know, they had about six inches of rain overall yesterday. And much of that rain, not all of it but most of it fell within a six-hour period of time. So that's a lot of rain. You know, we think of islands and we don't necessarily think of them being very hilly but they've got mountains, up to 6,000 feet here. So you get all that rain in the mountains and that sweeps down very, very quickly and that's how you get mudslides and a lot of rocks in this area as well.
Unfortunately, more rain is in the forecast. It is kind of raining there lightly right now. We don't think it will be real heavy tonight. But then they have a stronger system which is going to be moving in on Thursday, Friday, and maybe even linger this Saturday. So -
WHITFIELD: I'm telling you, looking at these images, this is reminiscent of the waters we saw, you know, from the tsunami in southeast Asia. I mean, it's tantamount to that. But the kind of, you know, the pressure, the volume, the voracity of that water.
JERAS: Oh, absolutely. I mean, it only takes like six inches of water to sweep you off your feet. You can see, you know, how deep that was and the force of that water. Water is very powerful. It is a scary thing. You can't always run away from it.
WHITFIELD: Very scary and very sad. All right. Jacqui Jeras, thank you.
All right. Let's talk politics in this country now. Because this week, a vote on a proposed jobs bill could take place and then Thursday, President Obama hosts a health care summit inviting both Republicans and Democrats to the table. But from the sound of discussions on the Sunday talk shows, partisan bickering impacts a lot.
(BEGIN VIDEO CLIP)
SCHWARZENEGER: I think -
UNIDENTIFIED MALE: On the highest level.
SCHWARZENEGER: I don't want to beat up my Republican colleagues but I think that it is - kind of politics rather than thinking about only one thing. It is how do we support the president. How do we support him in everything that we can in order to go and stimulate the economy and get the economy back and think about the people rather than politics?
I have been the first governor of the Republican governors to come out and support the stimulus money because it is - I said to myself, this is terrific and anyone that says - it hasn't created the job, they should talk to the 150,000 people that have been getting jobs in California.
REP. MIKE PENCE, HOUSE REPUBLICAN CONFERENCE CHAIRMAN: Republicans are ready to work. What we can't help but feel like here is that the democrats spell summit s-t-u-p -
And all this is going to be is some media event, used as a preamble to shove Obama care 2.0. We're not going to have any of that.
SEN. EVAN BAYH (D), INDIANA: I don't view this as a trap. The Republicans need to check their short-term political advantage at the door. The Democrats need to check some of their ideology at the door.
(END VIDEO CLIP)
WHITFIELD: OK. So Paul Steinhauser, CNN's deputy political director with us now from Washington.
You have to wonder whether the pressure now is on lawmakers. Republicans, Democrats, whatever side you are on this week, as you head towards this jobs bill and as we head towards this health care summit, you know the pressure is really on. Is it not, that they have to reach across the aisle and try to do something different than what we have seen.
PAUL STEINHAUSER, CNN DEPUTY POLITICAL DIRECTOR: Yes, because I think, Fred, you talk about this earlier in the hour. That new poll from CNN, Americans think that this government is broken right now. Vast majority of Americans. That last sound right there, that was from the State of the Union. Evan Bayh, Democrat of Indiana. You know what? He said he's not running for re-election and he announced this past week why, because he thinks the government is basically broken, and Congress. He is so frustrated.
You brought up those two examples. It starts as early as tomorrow. That's when the Senate could vote on this jobs bill. It has been paired down to Senator Majority Leader Harry Reid pared it down to $15 billion which isn't a lot but it sounds like a lot, it isn't a heck of a lot of money. And it is mostly or a big part of it is tax breaks for small businesses. They create -- if they hire new workers. So that's --that's something that is interesting to see if the Republicans come onboard on that one. Because that's something they have been preaching, help out small businesses because they are the people that create new jobs.
The other big test, you also heard it in that sound just now, is on Thursday, when you have that health care summit with Democrats and Republicans and the president, all on television going to be televised on CNN. Probably everybody else and you will see if there can be any consensus. We have two big tests this week. Fred.
WHITFIELD: So we are hearing from the lawmakers both saying they are mad at the other party. But what about the American people? Does anyone have any real indication if the American people are mad and if so, at whom?
STEINHAUSER: They are mad. It seems they are mad at both parties. We did a poll here at CNN about two, three weeks ago and it showed that you know what, about half of all Americans are angry at both parties. Take a look at these numbers. We asked do your Congress -- members of Congress deserve to be re-elected, angered both. You can see people who responded at our poll 41 percent said congressional Democrats deserve to be re-elected. The same number for Republicans.
So indications here from our surveys, Fred, that Americans are angry not just at the Democrats but at Republicans as well and almost equally. There's a lot of frustration out there. It has been there a long time. With -- you know, for about two decades now, it seems Americans are pretty angry with the lack of bipartisanship here in Washington but, of course with the recession, the last two years it has been accentuated. Americans are very angry. Fred.
WHITFIELD: Paul Steinhauser thanks so much, from Washington.
Of course an invitation to you to join us this coming week as CNN Investigates "Broken Government." The cycle of partisan politics and the role independents may play in the current two-party system. That is "Broken Government," all this week right here on CNN.
$39,000 a year may not sound like a lot of money to some people. But one teacher tells us how he's thriving on this modest salary. That's coming up.
(COMMERCIAL BREAK)
WHITFIELD: All right. New credit card rules go into effect tomorrow. And among the new changes, customers must be given a 45-day notice before raising rates and fees. No rate hikes for the first year and the new law will prohibit some fees and it also puts in place restrictions for people under the age of 21. Begging executives, well they say customers will actually be hurt by the new law.
(BEGIN VIDEO CLIP) NESSA FEDDIS, SR. COUNSEL, AMERICAN BANKERS ASSN: Interest rates will be a little bit higher across the board. It will be harder for people to get cards. Limits will be lower. And beyond that, card companies are looking at annual fees and a reduction in the promotional rates, maybe a reduction in rewards programs.
(END VIDEO CLIP)
WHITFIELD: Other ways card companies are expected to make up for the billions of dollars a year in lost revenue include higher balance transfer charges and growing charges for overseas transactions.
So you probably heard us say it is not how much you make but what you do with what you make. So my guest, Danny Kofke, is living proof of that. He is a teacher that makes $39,000 a year while his wife stays at home with their two children. He's also the author of this how to book, "How to Survive and Perhaps Thrive on a Teacher's Salary." You are giggling. You almost thought this was a humorous idea.
DANNY KOFKE, SPECIAL EDUCATION TEACHER: Yes, I did.
WHITFIELD: Why?
KOFKE: Well, I mean, most people agree and I think -- it is hard to say right now because I know a lot of people are hurting. The teachers, we don't make a lot of money. It is definitely in the moderate income. It is kind of humorous to think we do pretty well you know with $39,000 a year. I like to think we thrive. My wife gets to stay home with our two daughters. We have no debt except the mortgage. The best thing is I get to go to a job that I love. You know that to me is priceless.
WHITFIELD: And you pared it all down and put it in this like handbook kind of form. In part because people were asking you, how do you do it? How do you do it? You thought you would come up with this book, really for other teachers. But then come to find out hugely popular.
KOFKE: You know, there is a study I cite in there that according to the National Education Association 50 percent of teachers quit within five years. That was partly due to low pay. There was a general social survey done that said teaching ranks among the top ten most gratifying jobs. I didn't want my colleagues to have to be one of those numbers that quit because they couldn't make enough money and they had to do something else.
But then when the economy started to tank a little bit, I thought, gosh, I can really kind of branch this out a little bit and not just to teachers but to those other jobs that you do it because have you have a passion and firefighters, nurse, police officers.
WHITFIELD: So one of those things that you were trying to convey to them, you know we talk about the new credit card changes, and you already just said the only real debt you have is your mortgage. You are impressing upon people just for get it, don't spend on credit cards. Don't spend what you don't have.
KOFKE: People -- I think the Credit Card Act is a good way to go. But I mean a lot of people don't realize let's just say you don't want to spend $5,000 on a credit card to upgrade your living room. Let's say that interest rate is 24 percent a year. You just make the minimum monthly payments by the time you are done and you will spend almost $19,000 paying off the $5,000. I think this whole new reform is a good thing, especially for the young kids. The ones that go into college, first day of college, here is $5,000 of free money. Most 18- year-olds will go like yes, let's do it. They don't think about ten years down the road. Try to buy a house, have kids and that type of stuff.
WHITFIELD: You and your wife were able to save $20,000 in a two- year period. Here you all are parents of two kids. How did you do it?
KOFKE: Well before she became a stay at home mom, she was a school teacher, too. So I mean we never made that much money, but we had a long-term goal. Obviously for her to be able to stay at home and make it on $39,000 a year, raise the kids, we had to have the long- term plan. While she was working, we paid off, you know, all the debt we had besides the house, we built up that emergency fund. We almost pretended like we didn't have her income coming in and just tried to live off of mine.
WHITFIELD: A lot of families trying to figure out how in the world do we save for college education. You have two and you are talking about saving for that rainy day, saving for retirement. How in the world are you all going about saving for college? Just in case your kids don't get that scholarship.
KOFKE: You know, I try to tell people, Tracy stayed at home now, this is her fifth year so that is $40,000 a year, and there is $200,000. There's your college fund. No. I mean, just a little bit a month can add up. We still do it -- you know, it is not that much. They might have to --
WHITFIELD: What's the formula?
KOFKE: Just mutual funds, compound interest and let it work for you. That's kind of the biggest thing. You can invest $200 a month and over time, averages 8 percent a year; you are going to have a serious chunk of change.
WHITFIELD: All right. Danny Kofke, so you are essentially saying no matter how much you make, how little, how much you earn, there's a simple formula and it really means paring it all down, just living with the basics and not --
KOFKE: Don't spend more than you earn.
WHITFIELD: As simple as that.
KOFKE: It is so simple. I think people have gotten away from that. The advice our grandparents gave us. When you look at the people that went through the depression, they might not have these fancy things, but they are always secure. They have money because they remember those tough times. My hope is that if we take a positive out of this mess that we are in, this generation is going to learn that you know what, we have to save for that rainy day and it might come. You never thought it would. I mean, I'm 34. We never have been hit. My generation with this type of thing. Maybe we are going to learn something out of this and become stronger.
WHITFIELD: And you put this together, "How to survive on a Teacher's Salary." It will fit in your coat pocket. Just as you are out shopping, kind of pull this out, reminder, don't do it. Not unless I have cash to pay for it.
KOFKE: There you go.
WHITFIELD: Danny Kofke thanks so much. Nice to meet you.
KOFKE: You, too. Thank you.
WHITFIELD: All right. A former Bush administration official comes out in support of President Obama.
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WHITFIELD: Former U.S. Secretary of State Colin Powell is again defending President Obama. Kate Bolduan joins us now from the White House with details on this. Kate.
KATE BOLDUAN, CNN CORRESPONDENT: Hey, there Fredricka. Well the former secretary of state, he really challenged some critics of the Obama administration today. They really are laying out why he thinks some of these critics are wrong in their charge that the country is now less safe because of the Obama administration's handling of national security issues.
Now those critics, of course, including another Bush administration official, former Vice President Dick Cheney, they argue that Obama, actions taken by the Obama administration like closing Guantanamo Bay, like officially ending the use of enhanced interrogation techniques, like water boarding, they argue this let the country more vulnerable to a future attack. But General Powell, he disagrees. Listen here.
(BEGIN VIDEO CLIP)
COLIN POWELL, FORMER SECRETARY OF STATE: Counterterrorism authorities and forces are hard at work. Our law enforce many officials are hard at work and we have gone after the enemy in Afghanistan with 50 thousand more troops, more predators are striking al Qaeda and Taliban leaders and Pakistan. And we have continued the policies that President Bush put in place with respect to Iraq.
And so I don't know where the claim comes that we are less safe. My bottom line answer is the nation is at risk. Terrorists are out there and they are trying to get through. But to suggest that somehow we have become much less safer because of the actions of the administration, I don't think that borne out by other facts. (END VIDEO CLIP)
BOLDUAN: As you well know, Fredricka, General Powell is a Republican but came out in support of President Obama during the presidential campaign in 2008. On that specifically Powell said that he has no regrets in endorsing Obama during the campaign but did say that he thinks President Obama has, quote, put too much on his plate for the American people to absorb. Something very interesting.
WHITFIELD: So something back to the national security issue. What about the attempted Christmas Day attack? Because the Obama administration has gotten a lot of flack on the handling of that, did Powell have anything to say about that issue?
BOLDUAN: That's interesting. A little bit of a - kind of a shade of gray in what he was saying in his defense of the Obama administration. While he largely was defending some of the Obama administration's handling of national security issues. He did say that he was surprised in the handling of the - about the handling of the Christmas Day bomber and the surprising lack of coordination in dealing with that attempted bomb attack. So a little bit of interesting point there, too.
WHITFIELD: All right. Kate Bolduan thanks so much from the White House.
All right. Admit it. Many of us are hooked on the Olympic Games. And if you want to know who to watch and find out what the competitors are actually thinking, perhaps even feeling, who better to ask than another Olympic athlete? Dominique Dawes is a former Olympic -- really always an Olympic gold medal winning gymnasts. She is working for yahoo sports and joins us now live from Vancouver. Good to see you Dominique.
DOMINIQUE DAWES, YAHOO SPORTS: Thanks for having me on again.
WHITFIELD: I understand -- I know we are getting ready to enter the sport that you said last week you were looking so forward to and that's women's figure skating. So, you know, I kind of wonder as a -- as an Olympian, do you feel for the American female figure skater who is believed to be Rachael Flatt, the favorite versus Mira (ph) the American underdog? Who has more pressure on them?
DAWES: Well, definitely the American young girls are young and so they are feeling, of course, pressure. They are not favored to be on the podium. However, I remember from my first Olympic games when I was 15 years old and I still felt pressure and wanted to get on the podium. I'm sure Rachel as well as Mira are feeling a little bit of pressure coming up into their first Olympic games. They have a couple of days because the competition begins on Tuesday. I'm sure that they are just excited about the moment that is coming up shortly.
WHITFIELD: Of course, the Americans aren't the only ones to watch. There is a Korean skater that everyone is talking about, Kim Yuna (ph). Some say she's like the Princess Di of South Korea. She is hugely popular, rock star status. All eyes awaiting her as well? DAWES: She's definitely a rock star. I mean, I saw a little bit of coverage done on her. She's very good. She's high difficulty. Her arts take value is very high. I anticipate that she will be on top of the podium. However, I would -- I would say that our experts of Yahoo Sports, Sasha Cohen and Stojko (ph) are probably better to say who will sit on top of the podium because I'm just a gymnast.
WHITFIELD: A gymnast who is also a big fan of the winter games and you know folks are accustomed to seeing you and other gymnasts associated with the summer games. And some are kind of wondering why are there so many summer Olympians who are at the winter games such as Michael Phelps. He was in the stands last night for Apolo Ohno's winning of the seventh medal. What's been the attraction? Do you feel like a fish out of water as the summer Olympian or does it really matter? It is all about athleticism?
DAWES: Yes, that's very true. The other day I got to interview Michael Phelps and I was asking him why he was here. It is all about supporting his fellow Olympians, no matter if it is summer or winter Olympians. I was telling him how during the Olympics in Beijing when I had an opportunity to watch him win so many times, I was nervous for him each and every one of those competitions. So I think it is just to be around the camaraderie of the Olympic spirit and cheer each other on. We know that a number of our fellow Olympians usually go to the summer Olympic games to cheer us on. So why not return the favor?
WHITFIELD: Absolutely. One big happy Olympic family. All right.
DAWES: A large one.
WHITFIELD: Dominique Dawes thanks so much. Enjoy the rest of the Olympic Games this week.
DAWES: Thanks. I appreciate it.
WHITFIELD: All right. Well he is 109. He is on a mission. I will introduce you to the nation's last man standing in the war to end the all wars.
And this is the last full week of February and here's some of what happened this week in history.
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WHITFIELD (voice over): Thirty years ago this week, at the 1980 Lake Placid Olympics, U.S. hockey team won an upset victory over the Soviet Union. That became known as the miracle on ice. Forty years ago, in 1970, national public radio was founded. Sixty years ago, in 1950. The show of shows debuted on NBC. It was one of net works TV's earliest hit. And "Time" Magazine later declared it one of the best 100 shows in television history. One hundred forty years ago in 1870, Mississippi Republican Erim (ph) Reynolds was sworn in as the first black Senator in U.S. history.
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(COMMERCIAL BREAK)
WHITFIELD: Too young to remember the Jim Crow South but board members say she has what it takes to lead one of the oldest Civil Rights groups in this country. Forty four year-old health care executive Rosalyn Brock has been tapped to chair the NAACP. She's the youngest person ever to hold the position.
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ROSLYN BROCK, NAACP NEWLY APPOINTED CHAIRWOMAN: My goal and my mission as chairman of the board of the NAACP is to ensure that our policies, our programs, and our politics, are relevant to a new generation of human and civil rights advocate. I want to be able to get the word out there; the NAACP is live and well. That we are a multicultural -- multiracial organization and it is our goal to extend a broader net to encourage all Americans who believe in life, liberty and pursuit of happiness to come and join us.
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WHITFIELD: Brock is a former NAACP vice chair. She fills the seat left vacant by Julian Bond, a renounced Civil Rights leader who is stepping down after ten years in that post.
Sailors, marines, nearly five million Americans went off to serve in the Great War. But over the decade, their numbers have dwindled and as far as we know, we are about to introduce you to the last surviving American veteran of World War I. Over 100 years old and still has work to do.
(BEGIN VIDEO CLIP)
(UNIDENTIFIED MALE): Happy birthday to you.
WHITFIELD (voice over): He saw his country through two world wars the great depression and the dust bowl.
(UNIDENTIFIED MALE): Happy birthday to you.
WHITFIELD: Earlier this month, Frank Buckles turned 109. As you will soon see, Frank at 109 is not slowing down. On this day, Frank has a lot to celebrate. He's the last man standing for a generation fading from the history books. Nearly five million Americans answer the call to serve in World War I. But as the years have passed, their ranks have thinned. Frank is the last of them.
FRANK BUCKLES, WORLD WAR ONE VETERAN: I realize that my position is a representative of the veterans of World War I. I can say years ago that I was going to be among the last.
WHITFIELD: World War I started almost a century ago, 1914. When the U.S. entered the war in 1917, Frank was barely 16. So he lied his way into the army. But don't tell him that.
BUCKLES: I didn't lie. Nobody calls me a liar. My object was to get to France in a hurry. To get to France in a hurry, you should join the ambulance service because the French are begging for ambulance service.
WHITFIELD: He was sent overseas. The ship that rescued the Titanic survivors. He served in England and France until the end of the war. His family says he rarely speaks of the casualties he saw in the battlefield. But he remembers.
BUCKLES: Time has passed very quickly to me. The important thing is the desire to live and the purpose of living.
WHITFIELD: Frank has very important purpose. This cracked, weathered and run-down structure is the current World War I memorial at our nation's capital. Besides its shabby appearance it honors only veterans from the D.C. area.
REP. TED POE, (R) TEXAS: There were four great wars in the last century. We have monuments and memorials for three of those on the National Mall but we don't have one for first war, World War I.
WHITFIELD: Frank has embarked on one final military campaign to assure the stories of his comrades are not lost. He brought his fight to our nation's capital and is petitioning lawmakers to refurbish this memorial to honor all veterans of the Great War.
POE: That memorial will be constructed, reconstructed, in a presentable fashion and around this memorial will be added a memorial for all of those that fought in World War I. It is not really a new memorial. It is an expansion of the current D.C. memorial that's already on the mall for the D.C. veterans.
WHITFIELD: Back home for the moment, Buckles has his sights on Washington. He knows it may be an uphill battle but he's ready for this fight.
BUCKLES: I have to be because I am the last living member of the Americans.
WHITFIELD: The last American voice of World War I. Helping to keep the memories alive.
(END VIDEO CLIP)
WHITFIELD: Happy birthday, Mr. Buckles.
