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CNN Live Today

Same-Sex Marriage; Amnesty Agenda; Election Battle; Volcano Threat; High Interest Advice Tips

Aired June 07, 2006 - 10:00   ET

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

SOLEDAD O'BRIEN, CNN ANCHOR: That's it. We're out of time. Let's take you right to Fredricka Whitfield. Only I get to call her Fred. She's in the CNN Center.
FREDRICKA WHITFIELD, CNN ANCHOR: You and a few other friends.

MILES O'BRIEN, CNN ANCHOR: I call her Fred, too. I call her Fred-o.

SOLEDAD O'BRIEN: America, you call her Fred. She's Fredricka.

WHITFIELD: That's right, you come up with your own, Miles, Fred- o.

SOLEDAD O'BRIEN: Good morning.

WHITFIELD: All right. Well, thanks so much. I know it's a mouthful.

Good morning to all of you.

Homeward bound. This hour a journalist wounded in Iraq is being flown back to the United States. The latest on Kimberly Dozier's road to recovery from a Baghdad car bombing.

Plus, love him or hate him, you know you want to see the picture of their new baby. Why are we so caught up in the Brangelina fever? Big bucks and big celebrities coming up on LIVE TODAY.

A Senate showdown over same-sex marriage. It's happening right now on Capitol Hill. Even supporters can see they don't have enough votes. They plan to claim political progress despite certain defeat. Critics say it's an all election year ploy. Dana Bash is live on Capitol Hill with the days.

Dana.

DANA BASH, CNN CORRESPONDENT: Well, Fredricka, you've pretty much just summed up the final hour of debate we've heard this morning on the Senate floor. We expect the vote to start momentarily. Democrats, for their part, almost all of them will vote against this constitutional amendment to ban same-sex marriage. They say that this is the wrong thing to do at this time. And they're essentially accusing Republicans of trying to pander to their conservative base five months before an election.

(BEGIN VIDEO CLIP)

SEN. RUSS FEINGOLD, (D) WISCONSIN: I am pleased that the Senate will reject this amendment and I am heartened that so many senators have come to the floor to speak out strongly against this misguided proposal. But I am saddened, Mr. President, that once again the Senate has spent several days on such a divisive and unneeded proposal. A proposal that pits Americans against one another. And I think it appeals to people's worst instincts and prejudices.

(END VIDEO CLIP)

BASH: Now you just heard the Democrat, Senator Feingold, say that this will fail. It will, as a matter of fact. You see there on the Senate floor, Fredricka, the vote is now underway. But Republican supporters of a ban on same-sex marriage, a federal ban that is, they say that this is critical because states, many of the states, have voted overwhelmingly to support a state ban and that they are being challenged in courts. In some states actually judges have actually overturned the ban. That is why they say at the very least this debate is critical to have a national dialogue about this issue.

(BEGIN VIDEO CLIP)

SEN. SAM BROWNBACK, (R) KANSAS: This is about who's going to make the definition, whether it's the courts or the legislative bodies. And the institution is about how we're going to raise the next generation within this country. How are they going to be raised? It is a fundamental issue for our families. It is a fundamental issue for our future. It is an issue for the people. It is not an issue that the courts should resolve.

(END VIDEO CLIP)

BASH: Now we will likely see an uptick in this vote in favor of a constitutional amendment banning same-sex marriage from the last time the Senate took this vote two years ago. That is because Republicans have picked up some seats. They picked up seats in the 2004 election. You expect supporters of a ban, Fredricka, to point to that and claim at least a symbolic victory. But I can tell you, opponents say that victory will be hollow at best because we do expect this to fall well short of the two-thirds majority needed to amend the Constitution.

Fredricka.

WHITFIELD: So what, Dana, might be the political ramifications for fighting what everyone said was going to be a losing battle?

BASH: Well, you know, it depends. Like anything else in politic, it depends who you ask. I think, by and large, the prevailing conventional wisdom among Republicans is that they understand that the conservative base is angry and frustrated with their leadership here in Washington, primarily because they think that they elect them, they work hard to elect them and that when they're here governing, they simply perhaps turn their back on issues. Not just social issues, which of course this is one, but also some economic issues. Many fiscal conservatives, if will you, are unhappy with the fact that Republican leaders have been overseeing a soaring deficit, for example. So they hope that this vote and others on issues like the estate tax repeal will sort of help subside some of that conservative anger.

On the other hand, talk to other Republican strategists who say that this simply isn't going to do very much as all. That these kind of issues really don't help Republican turnout. We'll see what happens in 2006 if there's any way to see if this will make a difference.

WHITFIELD: All right, Dana Bash on Capitol Hill as we await the final tally there on the Senate floor as voting is now underway.

President Bush on the road pushing immigration reform. Just a short time ago he wrapped up a three-state swing with a stop in Omaha, Nebraska. While there, he visited a catholic charity center and stopped by a classroom where immigrants study civics and English. Mr. Bush says he's optimistic the House and Senate can come to a compromise on their sharply different approaches to dealing with illegal immigration. Among the major sticking points, enforcement and a guest worker plan.

Sharing information, a key to fighting the war on terror, yet critics say a loophole in the Senate immigration bill keeps law enforcement out of the loop. CNN's Lisa Sylvester reports.

(BEGIN VIDEOTAPE)

LISA SYLVESTER, CNN CORRESPONDENT, (voice over): Three of the 1993 World Trade Center bombers obtained green cards through the 1986 amnesty. One claimed he was a farm worker. They are among the hundreds of thousands of people who fraudulently benefited from the program. One reason it was so easy to commit fraud is because I.N.S. hands were tied by confidentiality requirements.

VICTOR CERDA, FORMER IMMIGRATION OFFICIAL: So you have situations where the government would know that somebody did, in fact, commit fraud, maybe two, three years later, but would be unable, because of these disclosure confidentiality provisions, would be unable to actually act on that fraud.

SYLVESTER: The 1986 laws confidentiality provision severely restricted information sharing between immigration officials and prosecutors and law enforcement. Application information could not be used to deport or evoke benefits. Similar language is in the Senate immigration bill. Senator John Cornyn introduced an amendment to change that citing national security concerns.

SEN. JOHN CORNYN, (R) TEXAS: It's important that we bring down those stovepipes that prevented the information sharing that might have prevented 9/11.

SYLVESTER: Cornyn's amendment was defeated in a tie vote. Senator Kennedy led the fight arguing, without the confidentiality clause, illegal aliens may be reluctant to apply for green cards. But back to 1986. Without the threat of prosecution for providing false information, there was massive fraud.

TJ BONNER, NATIONAL BORDER PATROL COUNCIL: For about $100, you could buy the complete packet that showed that you had been in the United States paying rent, paying utilities and working. And when they went back and checked those packets, they found that many of them contained the same addresses and the same dates.

SYLVESTER: In '86 it was estimated that half a million people would be eligible for amnesty. But the United States gave away citizenship to more than 2.5 million people.

Clearly fraud accounts for some of that difference and the same upholds illegal aliens could exploit become gateways for terrorists.

Lisa Sylvester, CNN, Washington.

(END VIDEOTAPE)

WHITFIELD: A new development in the so-called bikini strangler case. A registered sex offender captured last night agrees to return to South Carolina to face charges. Jerry Inman was arrested near his parents' home in east Tennessee. He's accused in last month's rape, kidnapping and killing of a Clemson University student. Twenty-year- old Tiffany Marie Souers was found dead at her off-campus apartment. A bikini top, investigators believe, was use to strangle her and that was still around her neck when her body was found. They say Inman's DNA matched samples taken from Souers apartment.

On the mend and on her way home. New video this morning of CBS News Correspondent Kimberly Dozier. She was loaded on to a military transport plane in Germany and is being flown to the U.S. for further medical treatment. A week and a half ago Dozier was critically wounded in a car bombing in Iraq. The explosion killed the other two members of her news crew. Next hour we'll have a report from CNN's Chris Burns in Germany.

Well, they survived a deadly earthquake and now this ferocious display from a volcano signals a new threats. A live report from Indonesia coming up.

And people have babies every day, right? So why is their baby such a big deal? Do we even have to ask? We're looking at the media frenzy ahead on CNN, the most trusted name in news.

JOHN KING, CNN CORRESPONDENT: I'm John King in Del Mar, California. Republicans survived their first big test of the midterm election campaign. So why do many think the victory could turn out to be a political headache for the Bush White House.

(COMMERCIAL BREAK)

WHITFIELD: The queen of hip-hop visits the halls of power. Rapper and actress Queen Latifah goes to Capitol Hill this morning. She's there to announce the First Annual National Women's Confidence Day. It celebrates the impact of confidence in women's personal and proposal lives. CNN's "Live From" has an audience with the queen later on today. She'll be a guest in the 3:00 p.m. hour, Eastern Time, right here on CNN.

Alabama Governor Bob Riley clears a hurdle in his bid for a second term. Riley defeated former Alabama Chief Justice Roy Moore in yesterday's Republican primary. Riley will face the Democratic winner, Lieutenant Governor Lucy Baxley, in November. More head- strong support from religious conservative. He was the one who was forced from office for defying court orders, refusing to remove a public display of the 10 Commandments.

For California Governor Arnold Schwarzenegger, no is time to waste. He is formally launching his re-election campaign today after finding out who his opponent will be in November. It will be State Treasurer Phil Angelides, who narrowly won yesterday's Democratic primary. Schwarzenegger easily won the Republican primary.

And for Democrats, a lost opportunity in California. The congressional seat vacated by Randy "Duke" Cunningham will remain in Republican hands. Former GOP Congressman Brian Bilbray beat Democrat Francine Busby in yesterday's special election. Democrats had hoped to capitalize on Cunningham's corruption scandal in order to win the race.

To Del Mar, California, now we go and Chief National Correspondent John King.

I'm sure people feel like there's a lot of explaining to do.

KING: Well, Fred, Republicans feel they escaped with a victory, and that is what they will celebrate today, the fact that they won this closely competitive race. You mentioned Brian Bilbray is the winner. He will serve the final seven months of Randy "Duke" Cunningham's term. Duke Cunningham is in jail for corruption charges. Excuse the noise of a train passing along the coast here in Southern California.

Now the Brian Bilbray's victory could turn out to be at least a short-term political headache for President Bush. Bilbray says he turned things around in this race when he went to the voters and said he disagreed with the president on immigration. Especially the president's plan to allow illegal immigrants already in the United States to join a new guest worker program and get a path for citizenship.

(BEGIN VIDEO CLIP)

BRIAN BILBRAY, (R) REP-ELECT: The president proposing amnesty was absolutely a big problem. And, in fact, it wasn't until I was able to highlight the fact that I did not agree with my friends in the Senate or my friend in the White House on amnesty, that you really saw the polls start supporting me strongly.

(END VIDEO CLIP) KING: So while Bilbray will likely be a reliable vote for the president on most issue, the president right now at this moment is traveling the country trying to sell his views on immigration and Brian Bilbray's message in that interview with us was simply, Mr. President, you are wrong and the voters in my district have proven you wrong. Brian Bilbray, Fredricka, says he will tell other Republicans across the country, run against the president on this issue. So a win for the Republicans but it could compliment the president's agenda, especially in the short term.

WHITFIELD: Wow. So now what about from the Democrats? You know, certainly a big defeat. They were a lot more hopeful. Is there still any kind of glimmer of hope for them?

KING: Well, they are trying to find silver linings this morning. And one of the silver linings is that their candidate, Francine Busby, ran very close. The final results are not in, but it looks like she will lose by three or four points in a district that the Republican congressman won by more than 20 points last time in a race against the same candidate, Francine Busby.

So the Democratic argument is that she was outspend two to one by the National Republican Party and that she came very, very close. They will make the case that that proves that across the country there is a sour mood. A sour mood about the Iraq War. A sour mood about what Francine Busby called the Republican culture of corruption in Congress. She thinks even in defeat there is a positive message for other Democrats.

(BEGIN VIDEO CLIP)

FRANCINE BUSBY, (D) CALIFORNIA CONG. CANDIDATE: I truly believe people in this district have risen above partisanship. They've risen above our differences. Because we're sending a message from all of us that we need a government that works for us, not for special interests. And people are actually fed up with the direction that we're going in. And I think this is a message that will resonate across the country.

(END VIDEO CLIP)

KING: But other Democrats will tell you, Fredricka, that they need to win some of these close calls if they are to capture control of Congress come November. Moral victories and close calls will not make Nancy Pelosi, the speaker, next year. So the Democrats very much wanted this one. They will try to find the silver lining, but it's a tough one for them to lose.

WHITFIELD: All right, John King from a scenic, but as we heard earlier, a bit noisy Del Mar, California. Thanks so much. John King, part of the best political team on television.

Well, first, it was a deadly earthquake. Now survivors are bracing for another potential blow from nature. Experts say Indonesia's most dangerous volcano may be about to erupt. Thousands of people have been ordered to evacuate. CNN's Dan Rivers is live from the shadows of Mount Merapi, volcano.

Dan.

DAN RIVERS, CNN CORRESPONDENT: Well, Fredricka, there has been some awesome displays from Mount Merapi over the last few days. Huge explosions of red, hot lava and molten rock spewing down the side of this mountain.

Now what the big worry is at the moment is, there is a big buildup of lava at the top of the mountain. The volcanologists are calling this the dome of lava that's building up. They are worried that if that breaks, then this huge volume of molten rock will sweep down the mountain and pretty much incinerate anything in its path. And that's why this week they've evacuated 11,000 people from villages that are lying in the root of this molten rock, in the shadow of Mount Merapi.

We've been up there today and there is certainly some villagers who are still not moving out of the danger zone. They're still there. They're saying they're not going to leave their homes. And they are in great danger if this volcano does erupt.

Fredricka.

WHITFIELD: And so why, Dan, would so many people be reluctant to leave?

RIVERS: They're saying they're just simply worried about the security of their homes. A lot of them are farmers. They have livestock there. Their whole livelihood depends on the animals that they keep. And they're not willing to take the chance on leaving them up there.

And, don't forget, these people have lived in the shadow of Mount Merapi all their lives. There have been other alerts in previous year. But this is now a red alert. The highest that it can go.

They're saying that an eruption could be imminent and these people should come down out of harm's way because they have already evacuated 11,000 of them and those that are up there are basically in danger of this huge wall of molten rock and lava coming, sweeping down. And when it comes down, it comes down without any warning and faster than anyone can run out of there.

Fredricka.

WHITFIELD: Dan Rivers, thanks so much, from a threatening Mount Merapi.

Well, with the Dow heading downward, what should you do about your personal investments? Gerri Willis has a few ideas.

What's going on, Gerri?

GERRI WILLIS, CNN CORRESPONDENT: Hey there, Fred. Good to see you. You're right, the markets are down. Interest rates are up. So is inflation. What do you do with your money? "Five Tips" is next.

(COMMERCIAL BREAK)

WHITFIELD: Welcome back to CNN LIVE TODAY.

Want to take a look at the numbers with the Dow up about 33 points and the Nasdaq up roughly around 14 points. A little bit more encouraging today versus yesterday.

Well of interest to us all the time, the value of money. The door may have closed for now on low interest rates, but that means a new window has opened for savings and investment opportunities. CNN Personal Finance Editor Gerri Willis joins us with some of her "Top Five Tips."

Good to see you, Gerri.

WILLIS: Hey, good to see you too, Fred.

Tip number one here. Look, just because interest rates are rising doesn't mean the interest on your savings account is, too. You've really got to check it out and make some comparisons. If your rate is less than 4.5 percent, it is time to shop around. You can do that by going to websites, by checking out even ads in the newspaper, Fred. They all advertise these rates. So make sure you're getting the best deal possible.

WHITFIELD: And I think we all understand the importance of having a 401(k), but don't be eager to touch it before it's time.

WILLIS: I can't tell you how many people out there are taking their 401(k) and moving it completely out of stocks because they're so worried about the stock market. I've got to tell you, if you're going to be in for the long haul, you should just keep doing what you're doing, keep your stock allocation because, look, at the end of the day, you're investing at low prices here. It makes sense to invest for the long haul. You should be in the stock market when it's at a depressed level. Remember, investing with your emotions, it does not yield good results.

WHITFIELD: And your emergency fund. Folks say sometimes it's good to have about three months worth of income or expenses socked away. Why is this so important? How do we need to keep touch (INAUDIBLE) with protecting it?

WILLIS: You never know what's going to happen, right? I mean, Fred, anything could happen to your house. You need three to six months' worth of emergency fund money. And the good news for you right now is that money market accounts are really attractive. This is a typical place people put short-term money and, guess what? They're paying a lot. Yields are over 5 percent. Compare that with just a couple of years ago. In 2003, the returns on those, less than 1 percent. Now if you get your money in a market account from a bank, you can also buy money market funds. But if you get a money market account at a bank, it's FDIC insured. So it's insured by the federal government. Best case scenario, show around, get the best deal.

WHITFIELD: And what about CDs?

WILLIS: CDs are doing well here, too. Interest rates on certificates of deposit, now these are investments that are sold by banks, they are at five-year highs. And people are throwing money into these CDs right now. Money in retail certificates of deposit, more than 1 trillion this year.

WHITFIELD: Wow.

WILLIS: And you can even go short term. Normally you have to buy, you know, a CD that locks your money up for four, five, six years to get a good deal. Not now. A one-year CD has a return as high as 5.27 percent. This is very good news for savers out there. Go to bankrate.com to get some information on the CD for you or even interest.com.

WHITFIELD: Impressive.

Now what about getting into bonds?

WILLIS: Well, you know, bond funds can include, look, treasury bills, corporate bonds, mortgage securities. There's a ton of stuff to pick from out there. Generally yields, right now, are about 4.5 percent. You should have some kind of allocation of bond funds in your 401(k). Remember, the difference here is that fund fees and expenses on a bond fund can make the difference between a winner and a real dud. So the key is to find a low-cost bond fund. Go to Vanguard or Fidelity to find some really great deals out there.

And, Fred, I just want to tell your viewers here, don't forget. We want to hear from you. Send us some questions to "Five Tips" at cnn.com. We will answer your questions on the air.

WHITFIELD: Great. Gerri Willis, thank you so much.

WILLIS: Thank you.

WHITFIELD: Well, he snuck in. Now he's helping to keep others out.

(BEGIN VIDEO CLIP)

UNIDENTIFIED MALE: You crossed into this country illegally.

UNIDENTIFIED MALE: I did.

UNIDENTIFIED MALE: And now you're helping to build that fence.

UNIDENTIFIED MALE: I can't believe that. I can't believe that I'm doing this. You know, now I'm putting a fence when I just crossed.

(END VIDEO CLIP)

WHITFIELD: You might find it hard to believe as well. The unusual story of one man helping to secure the border ahead on CNN, the most trusted name in news.

And perhaps you've seen some good celebrity photos lately. Well, how about these faces? Look familiar to you? Brad, Angelina and their growing family. Well, why are we so obsessed with them? And when are we going to see a picture of their new baby? Oh, wait a minute, or have you seen it already? More on CNN LIVE TODAY.

(COMMERCIAL BREAK)

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