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American Morning
Minding Your Business: Spending Spree
Aired January 23, 2004 - 07:52 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SOLEDAD O'BRIEN, CNN ANCHOR: Congress passes a whopping spending bill, approaching $400 billion. But just how much of that is going to lawmakers' pet projects?
Andy Serwer is here doing the math this morning.
My guess is, a lot.
ANDY SERWER, "FORTUNE" MAGAZINE: There is some porkage, as we say in Washington, D.C.
Let's get to some of the serious stuff first; $373 billion passed last night by the Senate. The president is expected to sign the matter in a couple of days.
Let's take a look at some of the real stuff here to begin with. Overtime pay, it makes it easier to get white-collar workers off of overtime pay. Eases media ownership. Food labeling delayed for beef and such coming in from other countries, which is interesting right about now. And the federal workers get a 4.1 percent raise.
But let's go to the pork patrol, because that's a lot more fun. Some of the stuff here is truly amazing. About 8,000 projects or $10 billion, watchdog groups, say are pork. Let's go.
The Iowa indoor rain forest -- yes, that's right -- in Coralville, Iowa. Senator Grassley might have liked this one. I think he did.
A first tee golf awareness program in Florida. Tom DeLay...
O'BRIEN: Golf awareness?
SERWER: Yes. Tom DeLay, I think, had something to do with that, I'm reading.
O'BRIEN: Golf awareness?
SERWER: Now, here's my favorite. The Rock and Roll Hall of Fame gets $200,000 in Cleveland for music programs, rock in the schools, it says, teaching kids about the history and cultural impact of popular music. Yes, that's right. Your guitar, sir, Jimmy Hendrix, Eric Clapton -- I mean, this is crazy stuff.
Now, let's go to the next one here. Market Wisconsin cheeses. This is specialty cheeses, Jack, Breyare (ph) and Camenbair (ph). Senator Cole involved. Nevada swimming pool, fruit flies, that's in France they're studying.
BILL HEMMER, CNN ANCHOR: French fruit flies.
JACK CAFFERTY, CNN ANCHOR: There are a lot of them over there.
SERWER: Oh, that was easy.
(CROSSTALK)
CAFFERTY: It was sitting there.
O'BRIEN: The markets?
SERWER: The markets are going to be mixed at the open, it looks like.
O'BRIEN: It is?
SERWER: Yes.
O'BRIEN: OK, we'll see.
SERWER: All right.
O'BRIEN: Andy, thank.
SERWER: You're welcome.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
Aired January 23, 2004 - 07:52 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
SOLEDAD O'BRIEN, CNN ANCHOR: Congress passes a whopping spending bill, approaching $400 billion. But just how much of that is going to lawmakers' pet projects?
Andy Serwer is here doing the math this morning.
My guess is, a lot.
ANDY SERWER, "FORTUNE" MAGAZINE: There is some porkage, as we say in Washington, D.C.
Let's get to some of the serious stuff first; $373 billion passed last night by the Senate. The president is expected to sign the matter in a couple of days.
Let's take a look at some of the real stuff here to begin with. Overtime pay, it makes it easier to get white-collar workers off of overtime pay. Eases media ownership. Food labeling delayed for beef and such coming in from other countries, which is interesting right about now. And the federal workers get a 4.1 percent raise.
But let's go to the pork patrol, because that's a lot more fun. Some of the stuff here is truly amazing. About 8,000 projects or $10 billion, watchdog groups, say are pork. Let's go.
The Iowa indoor rain forest -- yes, that's right -- in Coralville, Iowa. Senator Grassley might have liked this one. I think he did.
A first tee golf awareness program in Florida. Tom DeLay...
O'BRIEN: Golf awareness?
SERWER: Yes. Tom DeLay, I think, had something to do with that, I'm reading.
O'BRIEN: Golf awareness?
SERWER: Now, here's my favorite. The Rock and Roll Hall of Fame gets $200,000 in Cleveland for music programs, rock in the schools, it says, teaching kids about the history and cultural impact of popular music. Yes, that's right. Your guitar, sir, Jimmy Hendrix, Eric Clapton -- I mean, this is crazy stuff.
Now, let's go to the next one here. Market Wisconsin cheeses. This is specialty cheeses, Jack, Breyare (ph) and Camenbair (ph). Senator Cole involved. Nevada swimming pool, fruit flies, that's in France they're studying.
BILL HEMMER, CNN ANCHOR: French fruit flies.
JACK CAFFERTY, CNN ANCHOR: There are a lot of them over there.
SERWER: Oh, that was easy.
(CROSSTALK)
CAFFERTY: It was sitting there.
O'BRIEN: The markets?
SERWER: The markets are going to be mixed at the open, it looks like.
O'BRIEN: It is?
SERWER: Yes.
O'BRIEN: OK, we'll see.
SERWER: All right.
O'BRIEN: Andy, thank.
SERWER: You're welcome.
TO ORDER A VIDEO OF THIS TRANSCRIPT, PLEASE CALL 800-CNN-NEWS OR USE OUR SECURE ONLINE ORDER FORM LOCATED AT www.fdch.com.
