Soaring Inflation Poses New Threat To Biden Agenda

Laura Coates Live

CNN

News

4.2 • 2.5K Ratings

🗓️ 11 December 2021

⏱️ 42 minutes

🔗️ Recording | iTunes | RSS

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Summary

With key inflation measures at their highest level in almost 40 years and a revised Congressional Budget Office score of $3 trillion, is Biden’s “Build Back Better” agenda on life support? Former World Bank Chief Economist and Treasury Secretary under President Clinton, Larry Summers, joins to give his perspective.

The Supreme Court allows the Texas abortion law that bans the procedure after six weeks of pregnancy, to remain in effect, but ruled that abortion providers may sue some state officials in federal court. Professor Erwin Cherminsky, Dean, UC Berkley School of Law, joins to give his insight on the likely end of Roe V. Wade.

New York City council overwhelmingly approves legislation that gives 800,000 non-citizens voting rights in local elections. They will be eligible to register a year from now and could begin voting in local elections from January 2023. Primary sponsor of the bill NYC Councilman Ydanis Rodriguez (D) joins to discuss the expansion of voting rights he pushed for.

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Transcript

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0:00.0	News continues, let's hand over to Michael Smerchanish and see you next time.
0:06.0	Anderson, thank you so much.
0:07.0	I am Michael Smerchanish.
0:08.0	Welcome to CNN Tonight.
0:10.0	I want to talk about the politics of inflation, but hopefully in a way that your eyes won't
0:14.4	glaze over, because this is important stuff.
0:17.5	A president with sinking approval numbers who desperately needs a win instead just received
0:22.9	a double whammy.
0:24.5	And the result might cost him a last chance to pass his massive social spending bill
0:29.5	before the end of the year.
0:31.2	And if he doesn't get it done now, he'll have to fight this battle in 2022, yes, the year
0:36.6	of the midterm election.
0:38.8	So what happened?
0:39.8	Well, two things.
0:40.8	First, new data came out showing inflation at its highest in almost 40 years.
0:46.1	And a revised CBO score of 3 trillion came out on the Build Back Better Bill, ordered
0:52.2	up by Republicans that the White House is now saying, well, that's fake.
0:56.5	To sort it all out, we have former Treasury Secretary Larry Summers here.
1:00.5	He plays a big part in this debate because remember, he was pression.
1:04.3	He saw inflation coming, and that's why Republicans like to cite him in their arguments
1:09.4	that more government spending will make matters worse.
1:13.1	But is that really where he's coming from?
	...

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