Transportation Secretary Sean Duffy on Chaos at Newark 5/13/25

Squawk Pod

CNBC

Business News, Investing, Business, News

4 • 494 Ratings

🗓️ 13 May 2025

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Senator Ted Cruz (R-Texas) is pitching a universal savings account starting at birth, and he has a partner in Silicon Valley: Altimeter’s Brad Gerstner. Gerstner is in Riyadh, Saudi Arabia, as the Saudi-U.S. Investment Forum kicks off with President Trump, Elon Musk, OpenAI’s Sam Altman, Nvidia’s Jensen Huang, and many other CEOs and leaders. At the Newark Liberty International Airport, flights are delayed amid communication issues and a shortage of air traffic controllers. Transportation Secretary Sean Duffy explains the many issues facing America’s air traffic system, including outdated technology and a backlog of air traffic controllers in training. Plus, House Republicans are inching closer to a tax plan. Sen. Ted Cruz & Brad Gerstner - 15:37 Sec. Sean Duffy - 35:07 In this episode: Sean Duffy, @SecDuffy Ted Cruz, @SenTedCruz Brad Gerstner, @altcap Becky Quick, @BeckyQuick Joe Kernen, @JoeSquawk Andrew Ross Sorkin, @andrewrsorkin Katie Kramer, @Kramer_Katie

Transcript

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0:00.0	Bring in show music please.
0:03.0	Hi, I'm CNBC producer Katie Kramer.
0:07.0	Today on Squawk Pod.
0:09.0	Been stuck on a runway recently.
0:11.0	The U.S. Air System is 3,000 air traffic controller short.
0:15.0	Sean Duffy, Transportation Secretary, says the mess we've seen at Newark Airport is just the tip of the iceberg.
0:21.6	We're using, you know, 1980s-esque equipment.
0:24.7	We have radar that date back to the 70s.
0:27.4	The systems are really old.
0:29.1	They should have been updated a long time ago.
0:32.1	And investment at birth.
0:34.2	Senator Ted Cruz has a pitch for a universal savings account.
0:37.6	That investment account, the federal government will seed with $1,000,
0:42.3	but that account can receive every year up to $5,000 in contributions from friends and family members and from employers.
0:50.3	He's partnered with a big name in Silicon Valley and tech investment, Altimeters Brad
0:54.5	Gersner.
0:55.5	This is every town, every urban block in America, every child in America.
1:01.5	Plus House Republicans inch closer to a tax plan.
1:05.1	President Trump touches down in Rion, Saudi Arabia, and he's greeted by, well, everyone.
1:10.2	Elon Musk, Pidius Jensen Wong, Ray Dalio is there, also Palantir's Alex Karp,
1:15.3	who's greeted on the airport tarmac in Riyadh by MBS.
1:19.9	All of that today and much more.
	...

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