Return to Transcripts main page

CNN Newsroom

President Biden Packs Schedule as He Weighs 2024 Run; Fact- Checking Biden's Claims on Republicans and Social Security, Medicare Cuts; Super Bowl Held for the First Time in State with Legal Sports Betting; Several Super Bowl Ads Boost Sports Betting; Yahoo to Lay Off 1,600 Workers. Aired 9:30-10a ET

Aired February 10, 2023 - 09:30   ET

THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.

[09:30:58]

JIM SCIUTTO, CNN ANCHOR: A packed Friday is capping a busy week for President Biden. This morning he welcomes the nation's governors to the White House. Later he's going to host Brazil's president and first lady.

ERICA HILL, CNN ANCHOR: All of this of course after Tuesday's address to Congress, the State of the Union speech, and then a couple of days on the road for some campaign-style events.

CNN's MJ Lee is live at the White House this morning.

So these two events today, governors, president of Brazil, what are we expecting, MJ?

MJ LEE, CNN SENIOR WHITE HOUSE CORRESPONDENT: Yes, definitely shaping up to be a busy day here at the White House. The president will kick off the morning by hosting the nation's governors here at the White House. They are currently in D.C. for their annual Washington meeting, and as the president sort of kicks off the second half of his first term this obviously gives him an opportunity to have a significant check in with the various leaders of the states across the country.

We know that a big focus will obviously be on economic issues, particularly as this White House focuses on implementation of some of the bills that were signed into law over the last two years. What that means for funding for various states, COVID of course is expected to be one of the topics just simply even given that the public health emergency is expected to go away in a few months and that will have a big impact on how different states, you know, deal with the COVID pandemic that is ongoing.

But later in the day we will see the focus here at the White House turn from these domestic priorities to foreign policy. The president is going to be hosting the president of Brazil here at the White House and that is going to be a really interesting and fascinating meeting, especially if you consider the fact that these two leaders have really in so many ways have had to deal with similar dynamics over the last few years in their respective countries. You know, both countries have seen and dealt with the rise of

political extremism, right-wing populism, and then sort of different protests and efforts to undermine election results. And we saw this on such clear display a number of weeks ago in Brazil when supporters of the ex-president of the country tried to storm major government buildings. That was such an echo of what we saw here in our own country of course on January 6th.

And U.S. officials are saying that those are the kinds of themes that they expect the two leaders to discuss at this bilateral meeting. Of course, President Biden also would very much like to turn the chapter on the U.S.-Brazil relationship. Obviously he didn't exactly have a close relationship with the former Brazil president, Jair Bolsonaro.

SCIUTTO: Lots going on this week for the White House. MJ Lee, thanks so much.

HILL: Well, in his State of the Union speech of course President Biden's statement and the heckling that it triggered that some Republicans want to get rid of Social Security and Medicare has continued to be a major part of his messaging this week on the road.

(BEGIN VIDEO CLIP)

JOE BIDEN, PRESIDENT OF THE UNITED STATES: I know that a lot of Republicans, their dream is to cut Social Security and Medicare. Well, let me say this. You know, if that's your dream, I'm your nightmare.

(END VIDEO CLIP)

SCIUTTO: All right. So what are the facts here? Let's bring in CNN's Daniel Dale for a fact check.

You had the president in the State of the Union say, they do want to cut. You saw him do that again there. That's based it seems on Rick Scott's memo talking about sunsetting all federal programs here. What are the facts? How many Republicans actually want or are open to cutting Social Security and Medicare?

DANIEL DALE, CNN CORRESPONDENT: Jim, the answer is that we don't know exactly. So even before the Republicans protested President Biden's comments during that State of the Union we know that Speaker McCarthy had insisted that during this debt ceiling fight cuts to Social Security and Medicare are off the table. Other Republicans had said the same. But you still have a smattering that are saying well, we do need to deal with these programs, and we know that last year the Republican Study Committee, which is a group within the Republican House Caucus, well over half of that caucus is part of the group, released an alternative budget that did include proposed cuts to Medicare and Social Security.

[09:24:03]

Now, when it comes to Senator Scott's proposal I think President Biden could be clearer that this sunset proposal, proposal to sunset all federal laws presumably including Medicare and Social Security every five years is not a real part of these debt ceiling discussions, and he could be clearer that this proposal got a very rough ride from Senate Minority Leader Mitch McConnell who dismissed it last year and dismissed it again this week, saying that's Rick Scott's plan, it's not our plan.

On the other hand, guys, I mean, Rick Scott was a senior Republican. He ran the NRSC, Senate Republicans campaign arm. He was a member of McConnell's leadership team last year, and he did introduce this proposal. So when he keeps saying it's a lie, no, it's not, Biden keeps reading from it, and I think it is fair for Biden to mention that it exists.

HILL: And to your point, we are hearing this week of course from Rick Scott who's been pushing back on that. What more is he saying?

DALE: So Senator Scott is not only saying that Biden is lying about his own plan, again, Biden isn't, that sunset thing is real, but he is trying to turn the tables by claiming that Biden himself cut $280 billion from Medicare in last year's Inflation Reduction Act. And that is just not true at all. That's a claim that was roundly, widely debunked by CNN and a bunch of other outlets when Scott and his NRSC made it last year.

What the Inflation Reduction Act actually does is save the government and seniors money by reducing the amount of money that the government has to pay to pharmaceutical companies for prescription drugs. So that is pure savings. It is the not a benefit cut. And I spoke to experts about this again this week. A Vanderbilt University professor named Stacie Dusetzina said that framing this as a cut to benefits is, quote, "nonsense." Again, she's a Vanderbilt professor.

Another expert at the Kaiser Family Foundation Juliette Cubanski told me that the Congressional Budget Office said that prescription drug provisions in the law will reduce the federal deficit by $237 billion. This is savings from the federal government and Medicare from lowering what Medicare pays for prescription drugs. This is not the same thing as a $237 billion cut to Medicare. So debunked last year and debunked again this year.

SCIUTTO: Listen, these are important policy debates, they are real debates. It would be nice to have them without outright lies.

DALE: Yes.

SCIUTTO: But that's where we are. Daniel Dale, thanks so much.

DALE: Thank you.

HILL: Also politics. Good luck.

SCIUTTO: Yes. Coming up next, millions are betting on the Super Bowl. People aren't just wagering money on who will win, though. Betting on the big game has become a bigger and bigger business. How much money is on the table, also the risks. That's coming up.

(COMMERCIAL BREAK) [09:41:55]

SCIUTTO: For the very first time this Sunday the Super Bowl will be held in a state with legalized sports gambling. State Farm Stadium in Glendale, Arizona, even has its very own sportsbook.

HILL: Now in 33 states nationwide you can now legally bet on sports. CNN business reporter Nathaniel Meyersohn joins us now with more.

So you've written about this. There's a lot of attention this year on the betting because, correct me if I'm wrong here, but because this is the first time that there's actually going to a sports book at the stadium.

NATHANIEL MEYERSOHN, CNN BUSINESS CORRESPONDENT: Right, Erica. So sports betting has never been easier or more popular. This year 50.4 million Americans are expected to wager on the Super Bowl. That's a 61 percent increase from a year ago and we're seeing this spike because in 2018 the Supreme Court legalized sports gambling, and that's led to a wave of states to legalize it.

Thirty-three states have opened the door for sports books in their states. We're seeing all of these companies like DraftKings and FanDuel advertise on stadiums during the broadcast and then pro sports leagues like the NFL, like the NBA which were once fiercely opposed to sports betting, they've jumped in, they see an opportunity here. And so you have State Farm Stadium in Glendale, it's going to be the first site of the Super Bowl to operate a sportsbook.

SCIUTTO: When you look at this, I mean, there are some downsides, there are concerns, concerns about sports gambling addictions, right, concerns about the possibility of players or coaches getting involved in this. What is the gambling industry, what are gambling regulators doing about that?

MEYERSOHN: Right, Jim, so there are some serious downsides to this boom in sports gambling. States have already reported an increase in calls to their gambling addiction hotline since the 2018 decision. About 2.2 percent of the country or 5.7 million Americans already struggle with a sports gambling disorder. And experts expect those numbers to increase as sports betting becomes more widespread.

And there are a few features of these apps that really concern folks. You can just bet in an instant and you can bet on just about anything happening during a game. Who is going to score the next touchdown or get the next interception. So that increases the speed of these bets. And expect more states and the federal government to more closely regulate this industry in the coming years.

SCIUTTO: Nathaniel Meyersohn, thanks so much.

All right. Another part of the big business of the Super Bowl. Some of the ads we're expecting on Sunday are from companies driving that kind of betting. Have a look.

(BEGIN VIDEO CLIP) UNIDENTIFIED MALE: Papi, so what's cab betting?

UNIDENTIFIED MALE: The short odds?

KEVIN HART, ACTOR: You're both --

UNIDENTIFIED MALE: Ludicrous.

LUDICROUS, RAPPER: Hey, I heard Kevin taking the under.

HART: The under? Please. I ain't no Undertaker. Hey, I'm watching you like a hawk.

TONY HAWK, PROFESSIONAL SKATER: Tony Hawk, like the bird?

(END VIDEO CLIP)

HILL: Lots of big names from these online betting companies. You've Gronk with FanDuel as well. Will he make the kick? This is probably the only game of the year, Jim, where the commercial breaks get as much coverage as the game itself.

[09:45:01]

Jeanine Poggi is with us now. She's a senior editor for media and technology at Ad Age.

OK, so is there anything that you've seen ahead of the game, Jeanine, that says to you, this is the ad that we are all going to be talking about Monday morning?

JEANINE POGGI, SENIOR EDITOR FOR MEDIA AND TECHNOLOGY, AD AGE: You know, there is a lot out there right now, there is a lot of celebrities, and they are all filling up as you guys were talking about this sports betting wagers that are going on. You can bet on everything, even the Super Bowl commercials. Molson Coors will be working with DraftKings actually so that you can bet on many instances of things that might happen in their Super Bowl commercial.

I think there'll be a lot of fan interaction and I think those things will really drive conversation on game day. So it's really about those real-time moments and what you will see, you know, happening during the game and how brands are conversing with each other and with consumers on social media as well.

SCIUTTO: When you look at this, any other particulars that you think that people will be talking about on Monday after the Super Bowl?

POGGI: Yes, so, you know, there is a lot of brands really leaning into nostalgia this year and bringing back, you know, movies and TV shows that people are very fond of. You will have Rakuten with reviving "Clueless" and Alicia Silverstone reprising her role as Cher. PopCorners is bringing back "Breaking Bad" and doing a spoof on that. We have T-Mobile with John Travolta and a whole like "Grease" spoof which will (INAUDIBLE) entertaining. So you're really seeing brands lean into this sense of nostalgia and really have people, celebrities that consumers at home know and love.

HILL: You know, we are watching a bunch of them this morning and I have to say part of it made me feel like I've never been more out of touch with pop culture. So thank goodness for the "Grease" one because I could relate to that one. But I also know there was a great one I have to say from Bud Light that was so relatable because it's just the endless hold music. I know we have a little bit of that one we're going to play, too.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: We thank you for your patience.

(END VIDEO CLIP)

SCIUTTO: That's awesome.

HILL: And not just because they stole my dancing moves, Jim. When we look at some of these commercials, which are the ones that tend to do really well? Is it typically the beer commercials, the chips commercials? I mean, I certainly remember some Doritos ads from a year ago that really had people talking.

POGGI: That Bud Light one I think is a great example of one that I think will stand out because it's so different than what Bud Light is used to doing in the past. Really more about like slapstick humor, a little bit more in your face. This is much more subtle. There's that like element of romance even in there that's so different than a traditional Bud Light ad.

But, you know, celebrities are always a big driver of interest. Brands really lean into big names, household names that consumers know to help drive interest. I think those will do really well. I think there's also this trend around the use of the QR code. I don't know if you remember last year you saw the crypto coin base with that bouncing QR code. That's all it did, just bounced around on screen but it really got people's attention. It crashed coin bases site.

You see a couple of brands lean into and use QR codes this year looking to build on that moment. Avocados from Mexico, Michelob Ultra, with Netflix, you'll see QR codes floating around their ads and in their Super Bowl marketing, and I think those will be interesting to watch.

HILL: One thing we won't be seeing, though, is likely a lot of that crypto advertising we saw last year.

SCIUTTO: I was just going to say, there was this (INAUDIBLE). Speaking of crypto. But I can say I couldn't help but smile a little bit as I saw those dance moves. That's going to be a fun commercial.

HILL: Yes.

SCIUTTO: Jeanine Poggi, thanks so much for joining us.

POGGI: Thanks for having me. HILL: Well, just ahead, yet another massive layoff coming from a tech

company. This time impacting Yahoo's advertising department. Why is Yahoo looking to eliminate a fifth of its staff? That's next.

(COMMERCIAL BREAK)

[09:52:53]

HILL: Yahoo joining a list of tech companies announcing major layoffs. Yahoo says it's slashing its global workforce by 20 percent. So that works about 1600. And the cuts coming with plans to overhaul the company advertising division.

Joining me now CNN chief business correspondent Christine Romans.

So I feel like every time we talk about this, this is twofold, right?

CHRISTINE ROMANS, CNN CHIEF BUSINESS CORRESPONDENT: Right.

HILL: The 1600 people who were impacted, this is massive. This means so much to each person individually.

ROMANS: It hurts.

HILL: And it hurts. 20 percent is a really big number. But we also have to put these tech layoffs in context as well.

ROMANS: Sure.

HILL: Because we know the companies, it seems like a lot. Is this indicative of the broader market?

ROMANS: So we have seen skittish advertising customers, right? So this is the ad department that they're going to be add business that they are going to be streamlining and reorganizing essentially. It'll be 1,000 people this week, 1600 by the end of the year. So that's what's happening at Yahoo. And you put that into perspective of all of the other layoffs we've seen since the beginning of the year. It's been about 100,000 in tech and media that you've seen just since the beginning of the year. All of these big names.

For a lot of these tech companies, so for Yahoo it's a reorganization. For Disney, we heard this week, that's a big media company, that is a huge reorganization under with Bob Iger coming back at the helm there. But for a lot of these tech companies, you've heard the CEOs apologizing, saying we got it wrong. We hired way too many people. We hired more people than we would ever need during the pandemic because we thought pandemic times would last forever and they haven't, so they've actually had to do a course correction, a U-turn in some tech companies. You know, taking some of the scene off.

And what I've heard from tech recruiters is a lot of those people, most of those people are finding jobs again right away.

HILL: Wow. So the job market for them, right, it may feel terrible, you're getting laid off, but the reality is it may not be that difficult to find --

ROMANS: It's still pretty -- and Yahoo even says we are still aggressively hiring for other positions outside of this, you know, this part of the organization that's going to be restructuring so they're hoping that they can move some of the people who are their losing jobs into other parts of Yahoo.

HILL: So what does this say to the -- you touched on this but just drill it down with me a little bit more.

ROMANS: Yes.

HILL: In terms specifically at advertising, can I just say that stood out to me this morning on the way in? I was listening to you talk about this, Christine, because I thought advertising is key to so many businesses.

[09:25:00]

ROMANS: Well, it's also the canary in the coal mine, right?

HILL: Yes.

ROMANS: But the first thing as a business owner that you pull when you think the times might be getting rough down the road, you start pulling in advertising and marketing budgets, right? So that's where you can sort of see the leading edges of these concerns about a recession, they've been watching that very carefully, and then it filters down to other kinds of businesses. But outside of tech and media, we're seeing hiring, Erica, that is booming.

I mean, we've created 1.1 million jobs over the past three months alone. We talked about that jobs report last week which was just blockbuster, but put it in the context of the last, you know, three months you're seeing a lot of hiring especially in hospitals, offices, warehouses, you know, mines, you know -- all across the economy, you're seeing an awful lot of hiring especially in leisure and hospitality.

And what we're hearing from bosses in leisure and hospitality, that after a couple of years of not being able to find workers, they've been raising wages and they're starting to find workers. They're starting to have a little less trouble finding workers. So hopefully we're heading into a new phase I guess of the pandemic recovery.

HILL: All right. That sounds like a nice phase. I like that phase.

ROMANS: I hope so.

HILL: It's hiring more people, they make a little more money.

ROMANS: I know. I mean, and layoffs hurt. I'm going to be honest.

HILL: They do.

ROMANS: I mean, layoffs really hurt and so for these people who've lost their jobs, you just hope that it's a dynamic enough labor market that they can find a new foothold.

HILL: Yes. Absolutely. All right, well, those are some glimmers of hope, so I am going to cling to those.

ROMANS: OK.

HILL: Christine, thank you, on a Friday nonetheless. Jim?

SCIUTTO: Yes. We'll take glimmers of hope.

Still ahead, Mike Pence subpoenaed now by the special counsel leading the criminal investigation into the January 6th insurrection. The question he wants the former vice president to answer, what exactly is it? We'll have more coming up.

(COMMERCIAL BREAK)