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Quest Means Business
Joe Biden's Platform Includes Defeating The Virus To Fix The Economy; U.S. And European Union Agree To Tariff Reductions; Brazil Tops 3.5 Million COVID-19 Cases; Senators Grill U.S. Postmaster General Over Mail-In Voting; College Students Want Tuition Cuts For Online Learning. Aired 3-4p ET
Aired August 21, 2020 - 15:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
[15:00:15]
ZAIN ASHER, CNN INTERNATIONAL HOST: U.S. stocks are ending a record- breaking week on a high note. The Dow is up almost 200 points, certainly buoyed by tech stocks. Those are the markets, and these are the reasons
why.
Joe Biden accepts the Democratic nomination and says the U.S. can't fix its economy until it tackles the coronavirus.
New numbers on Europe's economy show the damaging effect of a second spike.
And Europe is blocking the United States from putting more sanctions on Iran. I will speak to the Trump administration's special envoy.
Coming to you live from New York, it is Friday, August 21st, I'm Zain Asher, and this is QUEST MEANS BUSINESS.
Good evening. Tonight, first, defeat the virus, then fix the economy. That's the precipitation of most economists and public health experts.
Now, it's the clear platform of Joe Biden. Closing out the Democratic National Convention, Biden delivered his first major speech as his party's
official nominee to take on Donald Trump in the 2020 election.
The former Vice President excoriated Trump's handling of the pandemic, for lacking strategy and leadership, for discounting science and instead hoping
for miracle cures.
Biden pledged to contain the virus and insisted it is the only way to begin repairing the battered American economy.
(BEGIN VIDEO CLIP)
JOE BIDEN (D), PRESIDENTIAL NOMINEE As President, the first step I will take will be to get control of the virus that has ruined so many lives,
because I understand something this President hasn't from the beginning. We will never get our economy back on track, we will never get our kids safely
back in schools, and we will never have your lives back, until we deal with this virus.
Our economy is in tatters, with black, Latino, Asian-American, Native American communities bearing the brunt of it. And after all this time, the
President still does not have a plan. Well, I do.
(END VIDEO CLIP)
ASHER: Ryan Nobles is in Washington for us, so Ryan, you heard Joe Biden there just talking about his strategy for fixing the ailing U.S. economy.
He also said the President's job is to represent all of us, regardless of who voted for him or not. Is Joe Biden the person who can really unite the
fractured Democratic Party? Meaning the Bernie or bust folks, AOC moderates, and also even the likes of John Kasich?
RYAN NOBLES, CNN WASHINGTON CORRESPONDENT: Such a great question, Zain, and I think that's really what the theme of the entire Democratic National
Convention was this week. They tried to bring in as many voices as they could from different aspects of the Democratic spectrum.
And as you point out, even beyond that, bringing in folks like former Ohio Governor John Kasich. But you know, I do think that what Joe Biden
attempted to do last night was draw a very sharp distinction with President Trump without ever mentioning his name. He never said the word "Trump" at
all during his entire remarks.
But that exact point you make about bringing more people into the fold, reaching out and being a president for all people, even Republicans, even
very progressive voters like Bernie Sanders supporters, and that's very different than the message that we have heard from Donald Trump.
He seems to be very much zeroed in on his base in particular. He makes very direct messages to certain segments of the American votership like suburban
housewives for instance.
So, Biden is playing a big game here, right? He wants to bring as many voters into the fold as possible. That's how Democrats believe that they
can win in the fall, where instead you see Donald Trump very much zeroing in on a very specific set of voters and hoping that they vote, he views
that as his key to victory.
You know, I think, Zain, you take a look at what we saw this week with the Democrats, it is going to be a different story when the Republicans get
center stage next week.
ASHER: Yes, it certainly will. It couldn't be more stark in terms of the difference. But did Joe Biden actually make an effective argument in terms
of how he would differ, by how he would actually combat this virus? Especially given that there is so much when it comes to this pandemic that
is out of his control?
NOBLES: Yes, I mean I think that was a very key point that many voters were looking for last night, right? I mean, when you look at the polling
here in the United States, there is so much angst still with the government's response to the coronavirus pandemic.
And a lot of that is laid at the feet of President Trump, but it really cascades down even to local communities. People are very unhappy with the
way their governors perhaps had handled it, the way their county managers have handled it to a certain extent.
And what Joe Biden really needed to articulate was a sense of calm, a sense of authority, that he understands that dealing with the pandemic is going
to be the most important responsibility that he is going to have if and when he wins this race and once he's inaugurated in January, and he didn't
really get into too many specifics, Zain.
But he basically said that I am going to handle it by, you know, following the lead of scientists, by bringing in the smartest people, and by
following their guide.
He said that as a direct counter-point to his view as to how President Trump has handled the pandemic to this point and he was really reaching out
to people who are just still so worried about the future of this pandemic to be a calming voice to say, "Don't worry, help is on the way."
[15:05:42]
ASHER: Yes, he certainly came across as that empathetic voice that a lot of people within the Democratic Party are looking for. Ryan Nobles live for
us there, thank you so much.
All week long, Democrats made the case that Joe Biden would be a more empathetic and effective leader than Donald Trump. That he would be a
President of Main Street, not necessarily Wall Street and guide America out of the pandemic.
(BEGIN VIDEO CLIP)
BIDEN: If he is reelected, you know what will happen. Cases and deaths will remain far too high. More mom and pop businesses will close their
doors, and this time for good.
Working families will struggle to get by, and yet the wealthiest one percent will get tens of billions of dollars in new tax breaks.
HILLARY CLINTON, FORMER PRESIDENTIAL CANDIDATE: It is wrong that billionaires got $400 billion richer during the pandemic while millions
lost their $600.00 a week in extra unemployment.
SEN. KAMALA HARRIS (D-CA), VICE-PRESIDENTIAL NOMINEE: Joe will bring us together to build an economy that doesn't leave anyone behind, where a
good-paying job is the floor, not the ceiling.
MICHELLE OBAMA, FORMER FIRST LADY OF THE UNITED STATES: He knows what it takes to rescue an economy, beat back a pandemic, and lead our country.
And he listens. He will tell the truth and trust science. He will make smart plans and manage a good team, and he will govern as someone whose
lived a life the rest of us can recognize.
BIDEN: My economic plan is all about jobs, dignity, respect and community. Together, we can and will rebuild our economy. And when we do, we'll not
only build back, we will build back better.
(END VIDEO CLIP)
ASHER: Gene Sperling served as a national economic adviser to Presidents Obama and Clinton. He is joining us live now from Santa Monica, California.
Gene, thank you so much for being us.
So, we are in a time right now where the unemployment rate is hovering around 10 percent. There are millions of Americans who are unemployed.
The initial jobless claim is above one million again. Just walk us through what Joe Biden's strategy will be in terms of creating more jobs if he is
to become President regardless of whether or not we have a vaccine.
GENE SPERLING, FORMER DIRECTOR, WHITE HOUSE NATIONAL ECONOMIC COUNCIL: Well, there is no question the United States is underperforming every
advanced country in the world economically.
You know, our unemployment rate I think more realistically is probably between 12 and 14 percent right now. You have had 40 to 50 million
Americans at some point having filed for unemployment insurance.
And I think what he is really putting down is really three powerful steps he has to do. First, that you cannot really have an economic recovery
without a public health strategy for the virus.
You can't wish people the confidence to go to work or to walk into a store, or to send their kids to school if they think they are putting their lives
on the line.
So, therefore, I think you saw him really stress that this was not only important to our health and saving lives, but this was the necessary step
for a real economic recovery.
Two, that we have to take -- we can't give up on the bold steps we have, the significant unemployment insurance that has been life or death for
families whether they could stay in their house or not, whether they could pay the bills.
And then third, he is going to have to come in at a time where, hopefully, it is not just recovery, but actually the job mobilization. And he talked
about his Build Back Better plan, which is much more about affirmative job creation and a green economy, green infrastructure, $2 trillion, a future
Made in America, a bigger push on manufacturing, and on innovation.
And then a focus on the care economy, the need for the caregiver and education jobs to not only be expanded, but to be given the respect and pay
that they deserve.
So he really is laying out three parts. How do we fix -- how do we get our hands around the virus, get more confidence. How do we do the things we
need to do to keep whole while we are recovering? And then three, that next step which will define his next term, which is can he lead a job
mobilization that really gets the United States back on the path to full employment?
[15:10:13]
ASHER: You know, we are living in a time where there is a major economic divide. I mean, there has always been in America, in terms of the gap
between the rich and poor, but I think that during the pandemic that has really become much more stark and really widened.
Just in terms of how Wall Street is doing, there are stock market record highs despite the fact we are in a recession and we are this the middle of
a pandemic and there are so many economic troubles that this country is facing.
How will -- just walk us through, how will things change? How will the landscape change for Corporate America if Joe Biden was to become
President? Especially given the gap between Wall Street and Main Street.
SPERLING: Well, I mean, you are absolutely right. I mean, this is a disturbing tale of two recoveries. Yes, to see the stock market fueled by
perhaps five American companies that have enormous economic concentration, and yet the suffering of particularly black and brown communities, so many
women workers, so many frontline workers.
So I think you -- you know, I think that a Biden -- as you have heard, he is about -- the theme I have tried to write about him in my last book,
"Economic Dignity," and I think he feels that when you look at the COVID crisis, it is not that it created a new reality, it more shined a spotlight
on the existing reality, which is there are an enormous number of people doing essential, vital and valuable work on the frontlines and out caring
for families, teaching our children that neither have worker power, nor pay, nor the compensation and benefits they need to actually work with
respect and raise their families with dignity.
And so, I think that this will be an opportunity to kinds of -- I think people are talking about complete the new daily or a new, new deal for
workers to fill those gaps that prevent a lot of people from working with economic dignity.
And I think Biden will rightly, or he should have a massive plan, that stimulus, where you are not worried about paying for it in the first few
years because we have negative real interest rates and we can afford, in fact, we can't afford not to have a major, major fiscal push in those first
few years.
But he's also saying that for his long term proposals, he is going to raise the capital gains rate. He is going to tax wealth more and use that money
for long term benefits for workers. So I think, he is looking at something that would, as he said, reward work over wealth, get the economy going.
But I think starting to really build up a dignity -- a sense of economic dignity and assurance for all workers, and I think this is the moment to
seize on that in the post COVID world, where we have all had to see how much we rely, our lives are saved by so many people that are treated so
poorly economically in terms of pay, benefits, and the rights they should have at work.
ASHER: Yes, it is about making, you know, this recovery that much more inclusive, as he talked about. Gene Sperling, live for us there, thank you
so much. Appreciate it.
New metrics suggest the E.U.'s economic recovery may be slowing as COVID-19 cases numbers keep climbing upwards. We will check in on the Euro zone
next.
(COMMERCIAL BREAK)
[15:16:11]
ASHER: All right, this just in to CNN. The U.S. and the E.U. have reached a deal on a package of tariff reductions. The top line numbers aren't all
that large, but they are the first such negotiated cuts in more than two decades.
The trading week is over in Europe, but American markets are responding positively to that news.
The Euro zone's economic recovery may be slowing down. The bloc's composite PMI dropped to 51.6 in August, and although anything above 50 signifies
growth, the reading fell short of expectations.
Analysts projected it would plateau rather than fall. The decline has likely a lot to do with another set of numbers as coronavirus cases trend
upwards this the E.U.
John Defterios joins us live now from London. So, John, when you think about these numbers and this drop that came in lower than expected, what
does that tell you about, A, the state of services, the service sector in Europe, but also businesses conditions as well.
JOHN DEFTERIOS, CNN BUSINESS EMERGING MARKETS EDITOR: You know, Zain, it is interesting because everybody was hoping that as they adjusted to the
kind of new realities of COVID-19, that you'd have a V-shaped recovery as these economies opened up.
And then you had this European Union bubble where people could travel even for holidays during the months of July and August, and this is the first
indication it is going to look more like a W, right? You go up and then back down, up, down, and then do we come back again for the fourth quarter?
And it is the reality of trying to live with the pandemic at this stage. This is the difficult part of it. We almost have a tale of two different
economies here. The services sector, as you are suggesting was up nearly at 55 and tumbled to 50. So that's a very sharp correction.
Then the manufacturing sector remained very stable. Then we have two different drivers of growth in the major economies in Europe as we speak.
I spoke to executives in the last 24 hours in Germany. They said, look, we feel very comfortable where we are in managing COVID-19, and that's
reflected in the economy although consumption is down and the economy contracted by 10 percent in the second quarter.
So they are expecting a very strong third quarter, then people are starting to look at congestion for cars and public transportation in major cities of
Europe like Paris, Rome, and Madrid.
Now, this could be somewhat misleading the month of August because people are taking their holidays right now, but if this continues as trend, it
does not bode well for growth going into the fourth quarter because of the return of cases undermining retail sales and consumer confidence overall.
ASHER: And then when you look at the U.K. specifically, because their PMI numbers came in somewhat robust as did their retail sales as well, but can
that really be sustained long term?
DEFTERIOS: Well, it's a great point that you make because we had two solid numbers today. The PMI was at nearly a seven-year high, so that was
encouraging for both the services sector, unlike what we saw in Europe, and the manufacturing sector remaining stable.
Then we had retail sales year-on-year up 1.4 percent and better than three percent from the trough that we saw in March and April. But there is a huge
question mark, what is the role of government?
The Bank of England is suggesting that the unemployment rate could hit 7.5 percent by the end of the year. That's historically high. We see major
retailers like John Lewis boots, Selfridges and others laying off employees already.
And the narrative I found while I am being here in London so far is what happens in October? October is a very key month because of the furloughed
workers and the government support.
By the way, we crossed two trillion pounds for the first time in terms of U.K. borrowing, which is historically high, it is about $2.5 trillion.
And then October is also the month where they are trying to find an agreement for Brexit talks with the European Union, and on both sides
today, despite yet another round, very little progress.
So we are not finding a common ground between Michel Barnier on the E.U. side from Brussels and David Frost from the U.K. said there are various
sticking points when it comes to transportation and fisheries and also now migration because of what we see taking place with migrants coming from
Calais and coming into the U.K. and what happens after Brexit.
So these are very poor indications. This could add another layer of uncertainty. And the reason I bring it up for the U.K. economy -- Zain.
[15:20:31]
ASHER: John Defterios live for us there, thank you so much.
Brazil has topped 3.5 million cases of coronavirus, the second most in the world behind the U.S. and by far, the most in Latin America. More than
45,000 infections were reported in the past day just as the government made it mandatory to wear masks in closed public sways.
Rafael Romo has more.
(BEGIN VIDEOTAPE)
RAFAEL ROMO, CNN CORRESPONDENT: It is a blow to Jair Bolsonaro, the Brazilian Congress defied the President by overturning a veto to regulate
mask use in the South American country.
Bolsonaro is against mandatory masks, but both Houses of the Congress -- the Senate and the Deputies Chamber -- voted in favor of requiring masks in
closed spaces including stores, many workplaces, religious temples and schools.
Congress went either further. Legislators also up held the right of mayors and governors to fine people who refuse to wear a mask.
It wasn't the only defeat for Bolsonaro, a rightwing former military officer who initially refused to wear a mask attending political rallies
with followers, he tested positive to coronavirus in early July, but has since recovered.
Congress also overturned the President's vetoes of a law that protects indigenous people during the pandemic. It makes drinkable water a right not
only for indigenous people, but also for communities of slave's descendants.
It also mandates emergency access to beds in hospitals and ventilators, as well as delivery of free food for these communities. With more than 3.5
million cases and 111,000 deaths, Brazil remains the second most affected country in the world by the coronavirus pandemic after the United States.
Rafael Romo, CNN, Atlanta.
(END VIDEOTAPE)
ASHER: Next door to Brazil, Paraguay is imposing new measures after an alarming spike in cases. Deaths attributed to COVID-19 have doubled over
the past week, and total infections rose by 25 percent.
The new measures begin on Monday. Paraguay's Finance Minister, Benigno Lopez joins us live from the country's capital, Asuncion via Skype.
Benigno, thank you so much for being with us. So, a lot of these new cases are concentrated in Alto Parana that's near the border with Brazil. If
these cases end up spreading to the rest of the country, what is at stake economically? And also just in terms of the health crisis that's facing the
country already?
BENIGNO LOPEZ, PARAGUAYAN FINANCE MINISTER: Hi, Zain, nice to meet you, nice to be on your show. Yes, you said the situation that we are facing in
Alto Parana which is near Brazil is a delicate situation.
We are not anticipating that that will spread throughout the country though we are having problems in the capital as well. But we taking some measures
that we think is going to ease the curve such as social quarantine.
In other words, we are trying put people and avoid social events for two weeks. We think that this will somehow level the curve and we are going to
still fight the disease outside of the hospital which is the idea in the reality that we are having on this pandemic.
ASHER: So, the quarantine restrictions for ordinary citizens is quite tight, particularly in that area. But I understand that some activity in
terms of businesses has been lifted.
Just walk us through what the impact has been just in terms of the coronavirus generally, and also quarantine measures. What has the impact
been on local businesses if your country?
LOPEZ: Yes. We are, as everybody around the world, we were hit hard by the pandemic. The projection that we are having for this year is going to be a
decrease on the GDP on the level of 3.5, I believe. That is a huge number for Paraguay because we were expecting a growth of five percent this year.
The good news that we are having in some numbers that gave us the idea that we will have a rebound next year and the economy will be working as it
should be over the next month.
But so far, we are trying to put together a recovery plan that will aim Paraguay will come back to the fiscal plan that was its main anchor to
fight this pandemic.
So, we believe that the pandemic some day is going to be found some vaccine maybe. But in the meantime, we are working close with the people in the
health system in order to try to fight this outside the hospital, not inside the hospital because nobody can win the battle there.
And trying to make a recovery plan, you in order to rebound with a robust economy in the coming year.
[15:25:34]
ASHER: Okay, you were initially expecting a growth of five percent. Now, unfortunately because of coronavirus, you are excepting the country's
economy to shrink by 3.5 percent.
So, this recovery plan that you're talking about, just walk us through what some of the key points in it is.
LOPEZ: Yes, the recovery plan will aim to -- first, most important to create jobs and to conserve the jobs that we are now losing in this
pandemic. It has an idea of an investment of public construction of $2.5 million that we are trying to put together over the next 18 months.
And we are also tackling one of the key problems that we have over this pandemic which is informality. Informality in Latin America is very high.
Paraguay is not an exception.
But we learned through this pandemic that the informality should pay more for the Paraguayans, so a bit part of the plan is to make the economy more
formal. We are having some incentives for the people to try to get into the formal sector of the economy, and as well, we are going to fund the public
banks in order to give to people in medium and small enterprises as well as the big enterprises, some at greater length that will make them pass this
moment that we are having.
So, those are the key factors of the recovery plan.
ASHER: Benigno Lopez, Paraguay Finance Minister, thank you so much for being with us.
LOPEZ: Thank you very much.
ASHER: Democratic Joe Biden is encouraging U.S. voters to choose hope over fear. It is a much different message from the one we are hearing from
Donald Trump.
But before the President's own convention even begins, Joe Biden's former speech writer joins us next.
(COMMERCIAL BREAK)
[15:30:29]
ASHER: Hello, everyone. I'm Zain Asher. There's more QUEST MEANS BUSINESS in a moment when we'll speak to Joe Biden's former speechwriter about
Democratic candidates messaging during this week's DNC and the U.S. accuses Europe of siding with the Ayatollah in a dispute over sanctions on Iran.
We'll hear from the U.S. Special Representative for Iran before that, though, this is of course CNN. And on this network, the facts always come
first.
Postmaster General Louis DeJoy assured lawmakers in a virtual Senate hearing today that mail-in ballot will be counted in time for the election.
Democrats accused the Trump administration of deliberately sabotaging postal operations through operational changes in order to slow mail
delivery. DeJoy downplayed the impact of the changes he's made since taking over the postal service in June. And top health official in Spain says that
the coronavirus is out of control in parts of the country.
It comes after Spain reported over 3000 new cases in a single day. Most of those cases in Madrid or in Catalonia. Spain currently has the highest rate
of infection in Europe.
Russia's state media says doctors will transport hospitalized opposition leader Alexei Navalny to a German clinic within a day. Navalny's aides have
been petitioning for medical transfer to ensure his safety. They accused the Kremlin of poisoning Navalny who is an outspoken critic of President
Vladimir Putin.
As the Democratic Convention ends and the Republican convention gets set to begin, it is clear the messages from the two parties could not be more
different. Joe Biden, for his part acknowledged a difficult road ahead, but chose to focus on hope and recovery.
(BEGIN VIDEO CLIP)
JOE BIDEN, UNITED STATES DEMOCRATIC PRESIDENTIAL NOMINEE: American History tells us that has been in our darkest moments, and we've made our greatest
progress that we found the light in this dark moment, I believe we're poised to make great progress again. And we can find the light once more.
(BEGIN VIDEO CLIP)
ASHER: Donald Trump hasn't waited for his own convention to issue a response hours before the biggest speech of Joe Biden's political life.
Trump described a future of Mayhem and fear.
(BEGIN VIDEO CLIP)
DONALD TRUMP, PRESIDENT OF THE UNITED STATES: Think of the smoldering ruins in Minneapolis. The violent of Portland, the bloodstain sidewalks of
Chicago and imagine the mayhem coming to your town and every single town in America.
(END VIDEO CLIP)
ASHER: Dylan Loewe was a speechwriter for Joe Biden when he served as vice president. He also collaborated with Kamala Harris when she wrote her
memoirs. He joins us live now from Los Angeles. Dylan, thank you so much for being with us. So, just listening to those two sound bites there, just
explain the different strategies of both Biden and Trump in terms of how they appeal to voters' souls. OK. It looks as though we're having some
technical difficulty.
DYLAN LOEWE, FORMER WHITE HOUSE SPEECHWRITER: I can't hear.
ASHER: OK. It looks like Dylan cannot hear me. We will check back with him in just a few minutes. Hopefully he can hear me soon. All right. While the
U.S. presidential race is finally taking shape, the months ahead are more unsettled than ever. The nation's college students. CNN's Bianna Golodryga
reports. Some of them are calling for refunds.
(BEGIN VIDEOTAPE)
SHREYA PATEL, STUDENT, RUTGERS UNIVERSITY: So, we kind of find out on their Web site on their frequently asked questions that said, will we be getting
a refund. And they said no.
BIANNA GOLODRYGA, CNN SENIOR GLOBAL AFFAIRS ANALYST: When Shreya Patel launched her petition to lower tuition fees at Rutgers University in July,
the New Jersey university had just announced that most of its fall classes would be conducted online.
PATEL: It just doesn't make sense to be paying such a high amount for something that's not being, you know, used to the full advantage.
GOLODRYGA: Nearly 31,000 signatures later, she's created a movement for other frustrated students like Janani Subramanian.
JANANI SUBRAMANIAN, STUDENT, RUTGERS UNIVERSITY: So, I think the biggest thing is a lack of transparency. We don't know where this money is going.
GOLODRYGA: The pressure from nearly half of the student body ultimately led the school to cut campus fees for the semester by 15 percent. Not enough,
says Janani.
SUBRMANIAN: Tuition reduction would be great, but there's -- so fees are what we are paying for. And if we're not going to be here, then what's the
point?
GOLODRYGA: Experts like Scott Galloway, himself a university professor, believe students are right to be outraged.
[15:35:04]
SCOTT GALLOWAY, PROFESSOR, NEW YORK UNIVERSITY STERN SCHOOL OF BUSINESS: Universities have backed themselves into a corner. And that is, we have
raised tuition on average 2-1/2-fold over the last 20 years.
GOLODRYGA: More than 75 percent of the country's 5,000 colleges and universities are expected to be partially or fully online this fall. And
some are joining Rutgers in discounting fees.
Williams College is dropping tuition by 15 percent. Johns Hopkins, Princeton, Georgetown, Spelman and Clark Atlanta University are cutting
tuition by 10 percent. While other schools such as USC offer their students living at home grants for those choosing to study from home.
TERRY HARTLE, SENIOR VICE PRESIDENT, AMERICAN COUNCIL ON EDUCATION: Interestingly enough, some students will be in residence halls at the
campus, but their courses will be online.
GOLODRYGA: But the majority of schools from state schools like Temple University and the University of Massachusetts system, to elite private
schools like Harvard and Stanford, are keeping tuition as-is.
GOLODRYGA: Are you surprised that we haven't seen more offer even a small tuition reduction?
HARTLE: I think universities have handled this about as well as they could possibly have handled it. Universities have to balance their budgets.
GOLODRYGA: Terry Hartle, an advocate for higher education, says ever since COVID-19, universities have lost millions.
HARTLE: Every institution of higher education in the country has suffered losses, room and board, international students, the hotel, the bookstore,
all of those have just largely disappeared.
GOLODRYGA: Experts also say higher education institutions are better equipped for online learning than K through 12 schools, which could help
drive down tuition costs.
GALLOWAY: It is time to lower costs and move education back to what it used to be.
GOLODRYGA: But millions of college students like Shreya still feel deprived of campus life, and depleted in their bank account.
PATEL: I don't think the financial wellbeing of a billion-dollar institution should be compared to the students who are severely struggling.
(END VIDEOTAPE)
ASHER: All right. Still to come here, the U.S. pulled out of the Iran Nuclear Deal in 2018. Now it wants to use that very deal to enact sanctions
on Iran. Not triggered a fight. We'll talk to the U.S. Special Representative for Iran, next.
(COMMERCIAL BREAK)
ASHER: All right. We're returning to our top story tonight. Joe Biden has accepted the Democratic nomination for president. His former speechwriter
Dylan Loewe joins us live now from Los Angeles. So, Dylan, I know that we had some technical difficult. I'm not sure if you heard before the break,
we actually played two sound bites, one with Joe Biden essentially calling for unity and saying that he would be a president for all Americans.
[15:40:10]
ASHER: And the other with Donald Trump essentially saying that if Joe Biden was to be elected, there would be chaos and mayhem on the streets in this
country. Just explain to us the two sort of divergent strategies in terms of how both these men are appealing to voters.
LOEWE: Sure. Well, I think, you know, with Joe Biden, first of all, he's the most optimistic person that I have ever met. And so, it's not
surprising to me at all, but he's focusing on a positive vision and trying to give us a sense of hope. Donald Trump is, you know, more or less than
authoritarian who's a white nationalist and a racist. And I think that he takes a great deal of pride in his cruelty and his callousness.
And so that is reflected in the message that he puts forward and in the way that he sees the race. And so that's why I think you're going to hear that
from him. But I think, you know, Joe Biden was very powerful last night and giving us a sense of an alternative reality that we can have here in this
country if he and Kamala Harris are elected, and I was struck that the speech felt less like a political convention speech and more like a
presidential address.
And I didn't -- I honestly didn't realize how much I needed to hear that until last night, you know, here in the United States, we are only four
percent of the population, but we're one in four of the COVID deaths. And we haven't had any public grieving at all here. I mean, our president won't
even speak of the dead. And so just having somebody standing up there who can console us and inspire us and lift us up, it was a reminder of what is
possible out of the White House and out of this country.
And I think it gave people a lot of hope about what we -- what we can do together if we're able to prevail this November.
ASHER: Right. So, he talks a lot about -- I mean, his message, you know, I think objectively was inspiring, and certainly it showcased his empathy.
But do you think he did a good job of actually outlining why he should be president, especially in terms of policies as opposed to why Donald Trump
should not be president?
LOEWE: Yes, I think he put forward a really important affirmative case for his vision. And certainly, you know, I think one of the things he hit on is
that we cannot get our lives back here in the United States, until we have gotten this virus under control. And so certainly that will be the first
and highest priority, you know, of anything that he's doing when he comes into office, he's getting this virus under control, helping us to manage
the economic calamity, the public health crisis, the racial justice crisis.
You know, and hopefully helping us to move past this Democratic legitimacy crisis that we're facing in here in United States as the president and his
allies work to sabotage the election and try to prevent a free and fair election from happening in November, knowing that that's the only way that
they're going to be able to prevail.
ASHER: And there are a lot of Americans who are not really that engaged in politics. I mean, even in normal time, they're not that engaged, especially
now because there's so much going on in terms of job losses and what's happening in, you know, people's lives financially. Do you think that Joe
Biden, and I guess the Democrats in general, do they do a good job of really trying to reengage those voters and bring them into the fold?
LOEWE: You know, I do. And I think one of the things about American politics is that though the presidential election seems to be endless, it's
really around this time of year, that voters who are not normally high information consuming political voters start to engage. And so, I do think
this is the opportunity for that. But the other thing is that I think it has been a long time since it has been so easy for Americans to understand
exactly what's at stake.
You know, parents have no sense yet of whether or not their kids are going to be able to go to school, but have a pretty good idea that it's not going
to work out. And the jobless claims in this country are going up by the millions every single week. And so, there's just not a whole lot of
explaining you have to do about what has gone wrong in this country and how important it is to make that change.
Joe Biden is not only somebody who can console us, but he's somebody who is an expert in the administration of government. And we've never needed
anything more important than that in these kinds of contexts. And so, I think he speaks to those issues. And I think he's going to speak to them in
a way that will engage those voters and hopefully bring them to the polls in November because we need that very badly.
ASHER: Right. Dylan Loewe live for us there. Thank you so much.
LOEWE: Thank you.
ASHER: The U.S. is calling for punitive sanctions against Iran despite objections from allies and adversaries at the United Nations. President
Donald Trump pulled the us out of the Iran nuclear deal in 2018. Even so, the Secretary of State went to the U.N. Thursday to argue that Iran has
broken the agreement. Secretary Mike Pompeo says the U.N. must restore so called snapback sanctions in response. Other countries still party to the
nuclear deal, opposed that idea.
Joining me live now from Washington is Brian Hook, U.S. Special Representative Iran. Brian, thank you so much for being with us. So, there
are some people especially --
BRIAN HOOK, UNITED STATES REPRESENTATIVE FOR IRAN: Glad to be here with you.
ASHER: Thank you. There are some people, especially leaders in Europe who say that the U.S. doesn't really have a sway here, given that they pulled
out of the JCPOA in 2018. What do you say to that?
[15:45:10]
HOOK: Well, the right to restore U.N. sanctions, something that has always existed independently of one's participation in the Iran Nuclear Deal. This
is something which President Obama and Vice President Biden made clear repeatedly that if Iran is in violation of its voluntary commitments under
the Iran Nuclear Deal, the United States has the ability to go to the Security Council and restore the U.N. sanctions that were lifted in 2015.
And so, they said at the time, we don't need anybody's permission to do it. And so, we are following the letter of U.N. Security Council resolutions to
restore U.N. sanctions.
ASHER: So, in terms of what is legal and what is not just putting that aside, just in terms of the wider risk that is happening now between the
U.S. and Europe, would it have been easier do you think, would it have been easier to stay within the JCPOA and make reforms from the inside as opposed
to leaving the JCPOA in 2018 and then trying to make reforms when the U.S. is out of it?
HOOK: Well, we tried to fix it. And I had spent six months in shuttle diplomacy between Washington, Paris, Berlin and London at President Trump's
direction to see if we could fix the deficiencies of the Iran Nuclear Deal. And we were able to get agreement on a much tougher U.N. inspections
regime. We were also able to get agreement on intercontinental ballistic missiles but we were not able to get agreement on the sunset clauses of the
Iran deal.
What people often need to remember is that the Iran Nuclear Deal is going to expire. It's a temporary arrange. And we thought that it needed to be
extended in perpetuity. It shouldn't -- it shouldn't expire. And we were unable to get agreement as a consequence, the president left the deal.
ASHER: So, what's the solution just in terms of the wider rift that is happening right now between the U.S. and Europe over this?
HOOK: Well, when we look at Iran's terrorism in Europe since 1985, we're baffled that the European governments can't find a way to extend the arms
embargo on Iran. It's going to expire on October 18th. There has been a 13- year arms embargo in place on the Iranian regime, and it's going to expire in only a few weeks. And since 1985, Iran has conducted terrorist
operations in Europe repeatedly.
And I'm talking about hijacking commercial jetliners bombs that murder many innocent Europeans, assassinations of political dissidents, bomb plots of
Jewish synagogues, bomb plots of political rallies. I don't know who thinks it's a good idea to allow the Iranian regime to have more weapons. And so,
we were disappointed that the council didn't live up to its charter, but we're going to make sure the arms embargo gets extended.
ASHER: So, Boris Johnson though specifically has talked about this idea several months ago that the maybe one solution is that the Trump
administration actually negotiates another deal separate from the JCPOA. A different Iran Nuclear Deal? Is that something that, you know, is perhaps
on the table, just in terms of a future solution to this?
HOOK: Well, we would love that. And I remember the remarks that Prime Minister Johnson made, I think it was a number of months ago. He said that
the Iran deal has many, many deficiencies, and perhaps we should be looking at a Trump deal, and the President has called upon the current members of
the Iran deal to join our foreign policy, which has been very successful in weakening the Iranian regime, and in weakening its proxy.
And so, now that we are in the process of restoring all the U.N. sanctions, we hope that people will join it. We need a better deal. We need a deal
that addresses all of Iran's threats to peace and security and not just the nuclear threat. We're talking regional aggression, ballistic missile
testing, hostage taking all of the things that the Iranian regime is notorious for.
ASHER: Brian Hook life for us there. Thank you so much for joining us.
HOOK: Thank you for having me on.
ASHER: Of course. After a summer without blockbusters, movie theaters start reopening across the U.S. We'll try to gauge their outlook just ahead.
(COMMERCIAL BREAK)
[15:50:00]
ASHER: After months of closures, the movie theaters are reopening their doors across the U.S. but it's unclear what sort of audience they can
expect. Major chains are doing what they can to feel seats, but a dwindling list of blockbusters and the same safety concerns that forced closures to
begin with, could make for an uphill climb. CNN Media reporter Frank Pallotta joins us live now from New York.
So, Frank, movie theaters are reopening. But audiences actually come back, do you think?
FRANK PALLOTTA, CNN MEDIA REPORTER: It's really a big question and that's at the heart of the question of this return because Hollywood's going to be
watching these next couple of weeks to try to figure out if the theaters can bounce back. So, it's really a matter of a bunch of different things.
The first being there's not a ton of new movies at least right now for people to go see.
So, theaters like AMC are showing old movies like Back to the Future and Black Panther and Inception to get people to come in at a lower price
around $5.00. The national average is closer to 10. After that, we're going to have more movies like Christopher Nolan's Tenet at the end of this
month, and we're going to have you know a new movie next weekend, new -- The New Mutants which is from Disney and Marvel.
So, it'll be interesting to see if people do come back. But at the end of the day, this really comes down to are people going to feel safe and are
they going to have enough disposable income to actually go to the movies?
ASHER: Yes. And part of the fun of going to the movie theater is just to partake in, so obviously we can all watch a movie from home especially an
old movie, for the fun of going to the movie theater is to partake in that shared experience that collective enjoyment, that sense of togetherness.
And if that isn't really there because of social distancing and limiting numbers, then what is the point of going to the movie theater when you can
just stay at home and watch the same movies?
PALLOTTA: That strikes the nail right on the head. At the end of the day, what's really important about the movies, what's really special about the
movies is the communal cinematic experience, you're sitting next to someone you don't know, and laughing or crying or screaming to something that's on
the screen. Now, it's not that much fun to sit next to somebody in close proximity to that you don't know.
And theaters are indoors for multiple hours with circulated air and now these theaters have gone really out of their way, especially AMC to make it
as safe as possible. They have, you know, upgraded their ventilation systems, they have lower capacity movies, so there's not going to be
sellouts. And of course, you have to wear masks at all times. But it's going to be interesting to see if you know an usher is going to be able to
stop you from taking your mask off halfway through Tenet.
So, that's the question that people have to find out the next couple weeks and the number one question that consumers have to ask is, is this really
worth it? Is it really worth risking potentially your life to go see Christopher Nolan or a new movie?
ASHER: Gosh, when you put it like that. Frank just walk us through what this means for the long-term success of the -- of the movie theater
business, especially when it comes to the fact that, you know, they've sort of had a nail in their coffin for a while and given streaming services and
given other forms of entertainment that we can watch on our phones.
PALLOTTA: So, I will say that movies have survived for the last 90 years. I mean, people have been saying, since the advent of movies that movies were
dying. They survived depressions, they survived wars, they survived the advent of T.V. and so far, streaming.
[15:55:09]
PALLOTTA: But this is a different animal because we can't go to the movies. It's the one thing we're being kept from. So, for the last five months,
major chains have been basically shuttered. They've been losing money, they haven't been bringing any money in. So, it's going to be interesting to see
how this evolves. Personally, I don't think going to the movies is going to die when we lose some potentially major chains that's yet to be seen.
But movie going will survive. People do love going to the movies, what it'll look like a year from now, it might be completely different, but that
doesn't necessarily mean you'll be completely worse.
ASHER: And just in terms of states that don't yet have a handle on COVID. Certainly, I'm guessing from state to state it will be different. Frank
Pallotta live for us there. Thank you so much. We are in the last few minutes of trade on Wall Street. The Dow is charging higher to close out
the week. It's about 210 points or so, building on Thursdays games, but only good enough to finish that, for the five days gone by.
Today's rise is largely on the back of Apple. Apple shares are up nearly five percent to cap off a milestone week where the company's market value
topped $2 trillion for the first time on the wider markets. Both the S&P 500 and the NASDAQ should score Fresh record highs. That is QUEST MEANS
BUSINESS. I'm saying Ashley in New York. The news continues right here on CNN.
(COMMERCIAL BREAK)
JAKE TAPPER, CNN ANCHOR: In the United States, despite a clear failure of the government to isolate and contain the virus as other parts of the world
have been able to do. The CDC Director Dr. Robert Redfield is now saying that middle America is getting "Stuck" when it comes to the pandemic but
places such as Nebraska and Oklahoma, are not seeing cases fall though the overall number of cases in the United States is declining from the peace
last -- peak last month.
And Dr. Redfield says he expected the number of daily deaths to also begin dropping soon. Experts have long said that the true number of cases in the
United States is likely many times higher than what has been reported. And now Dr. Redfield is saying it's possible up to 60 million Americans have
actually contracted the virus more than 10 times the reported number. CNN's Athena Jones reports for us now.
There are at least 19 states dealing with new outbreaks at colleges and universities.
ATHENA JONES, CNN NATIONAL CORRESPONDENT: As college students head back to campus coronavirus outbreaks at universities in at least 19 states, leading
to concerns about scenes like this. A large gathering of students at Penn State that prompted the school's president to ask those flouting the rules.
[16:00:03]
JONES: Do you want to be the person responsible for sending everyone home?
END
