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Economists Warn Trump's Fixes On Inflation Would Make It Worse; Federal Reserve On Track For Another Rate Cut This Week; RFK Jr Says Fluoride Should Be Removed From Water Supplies; Police Chiefs In Battleground States Make Plans To Secure Elections; Nebraska's 2nd District Pivotal In Path To 270, Congressional Control. Aired 2:30-3p ET

Aired November 04, 2024 - 14:30   ET

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

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[14:31:06]

BRIANNA KEILAR, CNN HOST: While campaigning, Vice President Harris has placed a considerable emphasis on creating so-called "opportunity economies," pushing home ownership, small business loans, and also child tax credits for Americans.

BORIS SANCHEZ, CNN HOST: Yes, but the economy and inflation, specifically, may be her Achilles heel should voters ultimately decide to send Donald Trump back to the White House.

CNN's Matt Egan is here with a closer look.

Matt, if Trump wins, how much of that would be due to inflation?

MATT EGAN, CNN REPORTER: Well, Boris and Brianna, inflation would have to be at the very top of the list. Inflation became a problem for President Biden almost as soon as he took office. Prices were skyrocketing at the supermarket, the gas station, virtually everywhere.

A lot of that had to do with supply chain problems and Covid and Russia's war on Ukraine. But fair or not, inflation really quickly soured many Americans on Bidenomics.

And Vice President Harris, she's been forced again and again to defend the administration's track record on the cost of living.

The problem for Democrats, as that chart shows, is that even though inflation has come down, dramatically, prices have not. They're still going up, just at a slower pace.

And there is a snowballing effect with inflation. It's cumulative. Moody's found that the Americans -- the typical U.S. household is spending more than $1,100 a month, more than they spend when Biden took office, just to get the same goods and service.

It's true that paychecks are up, too. They're actually up by a little bit more than prices. But that's not great, right? If you're working your tail off, you get raises and you feel like you're just treading water.

Now, former President Trump, he's really seized on this economic anxiety. He's promised to confront inflation by really shaking things up. He's promising big tariffs, big tax cuts, and massive deportations.

And his economic message is resonating with voters who are frustrated with the status quo.

The ironic part, though, is that economists, they're not buying what Trump is selling on inflation. In fact, many of them are warning that Trump's economic fixes would actually make inflation worse. That his agenda is inflationary, maybe very inflationary.

In recent days, there's been an open letter that's been circulating. It's gotten more than 300 signatures from economists who are opposing Trump.

And they wrote, "Just as Mexico didn't pay for a wall in his first term, China will not pay for Trump's tariffs if he's given a second term. You will."

And yet, if Trump ends up winning, we will look at inflation as one of those forces that propels him back to the White House.

KEILAR: Of course, the big thing this week is the election. But the Fed is also meeting this week, Matt. Could we see another rate cut?

EGAN: Well, Brianna, there's so much uncertainty over the next few days, but the one thing that does look like a slam dunk is another interest rate cut from the Fed.

The market is pricing in a 98 percent chance that the Fed cuts rates by a quarter of a point on Thursday.

Of course, the crazy thing is that the Fed may be deciding interest rate policy at a time when we may not actually know who the next president is, nor which economic policies are likely to be enacted.

But another rate cut would, of course, be good news for consumers, especially everyone struggling to pay off credit card debt right now, because interest rates, although they're coming down, they remain pretty high -- Boris and Brianna?

SANCHEZ: Matt Egan, thank you so much for the reporting.

EGAN: Thanks, guys.

[14:34:33]

Still to come, you may have seen this. Former President Trump expressed support for a plan by Robert F. Kennedy Jr that would order the removal of fluoride from the country's drinking water during a potential second Trump term. We'll take a closer look at the science, next.

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KEILAR: Former President Trump is expressing tentative support for Robert F. Kennedy Jr's new plan to order the removal of fluoride from public water supplies in a potential second Trump term.

Trump told NBC News that he has not talked to RFK Jr about the proposal yet but, quote, "It sounds OK to me."

SANCHEZ: The practice of adding fluoride to drinking water is under scrutiny right now after a judge ruled the EPA must regulate it more because high levels could pose a risk to the intellectual development of children.

CNN's Meg Tirrell joins us now live.

Meg, the CDC and the American Dental Association continue to back the benefits of fluoride, right?

[14:40:04]

MEG TIRRELL, CNN MEDICAL CORRESPONDENT: Yes, they do, Boris. Fluoride is a mineral that can prevent tooth decay and it started to be added to drinking water in the U.S. in 1945. The CDC has called it one of the greatest public health interventions of the 20th century for its promotion of dental health.

It's also been added to most toothpastes since 1975. And so we have seen some recent reviews of data looking at whether, after that point, adding fluoride to water is as beneficial as it was before that point.

There was a Cochran review that came out last month, for example, that showed that, before 1975, adding fluoride to drinking water could prevent about one tooth, on average, from getting affected by tooth decay. After 1975, they said that came down to about a quarter.

However, as you pointed out, those major organizations say this is a safe and cost-effective way of preventing tooth decay, which they say can be a major public health issue, particularly for less advantaged communities.

So they still really support the safety and the efficacy of adding fluoride at optimal levels to the drinking water -- guys?

KEILAR: Talk to us about the concern, the safety questions and concerns about it.

TIRRELL: Yes, so we have been starting to see these emerge more. There was a judge who just ordered the EPA to take a closer look at this.

And there was a review by the National Toxicology Program that looked at the evidence and found that at levels twice what are recommended for adding fluoride to the drinking water, there is a potential link with lower I.Q. in children.

And so they are asking for more research into this. They say at the lower levels, those that are recommended for the levels in drinking water, there isn't enough data to say that there is any safety risk there, also for adults.

So they are saying that there should be more study, more looking into this. But right now, these major organizations say that this is a really important public health practice. And that the levels that are recommended for drinking water, is safe and beneficial.

SANCHEZ: We'll see where it lands. And we look forward that research that you talked about.

Meg Tirrell, thank you so much.

Police forces across the country are increasing security efforts for Election Day and beyond. With deep divisions over this election and the long shadow of the January 6th attack on the capital, police in several cities are on high alert.

KEILAR: CNN's Shimon Prokupecz is taking a closer look at the preparations being put in place right now.

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UNIDENTIFIED MALE: Know where those polling locations are, but don't go unless you're explicitly requested to respond.

SHIMON PROKUPECZ, CNN SENIOR CRIME AND JUSTICE CORRESPONDENT (voice- over): Police departments in battleground states across the nation are gearing up for the 2024 election like never before.

CHIEF SHON BARNES, MADISON, WISCONSIN POLICE: I've been in this business for 25 years. I can't think of an election where we have had as much planning and preparation for safety, A lot of that has to do with what happened on January 6th.

UNIDENTIFIED MALE: If it is reported to us --

PROKUPECZ: CNN granted access to a Madison, Wisconsin police briefing on what officers should anticipate.

DET. GRACE FAVOR, CRIMINAL INTELLIGENCE, MADISON, WISCONSIN POLICE: What we look for in criminal intelligence is not only day of protecting the ballots. If there's going to be any protest activity.

PROKUPECZ (on camera): It's interesting because the battleground states, the chiefs have really been. I feel like you guys have all been talking.

BARNES: Me and thousands of police chiefs all over the country are really taking this very, very seriously. So if something happens in another part of the state, I want to be aware of it.

I want to be able to let folks know, hey, this is what happened in Georgia or Arizona or Pennsylvania.

PROKUPECZ (voice-over): It's not only problems on the ground that worry police chiefs. They're concerned with social media.

BARNES: The disinformation worries me. We will be responsible for correcting that narrative.

PROKUPECZ: Cities say they're ready. In Philadelphia, courts are canceled on Election Day to free up hundreds of officers. In Georgia, panic buttons have been installed at precincts that will alert law enforcement. And in Arizona, plainclothes officers may deploy in parking lots of voting sites.

UNIDENTIFIED LAW ENFORCEMENT OFFICER: Our first path is also going to be to deescalate and to see if we can just defuse the situation.

PROKUPECZ (on camera): A lot of focus on November 5th, Election Day. But law enforcement is also very concerned about the days after the election as votes are being potentially tallied. And also the certification process, which takes place here at the Capitol in December.

BARNES: The apprehension is about what happens after that if the will of the people, you know, isn't done or people don't accept the results.

PAT BUTLER, ELECTION VOLUNTEER: This is your ballot activated.

PROKUPECZ (voice-over): For Pat Butler, who's been an election volunteer for nearly five decades, she says she isn't worried.

BUTLER: For me to see people coming out to vote, it's just remarkable.

BARNES: Hop in.

PROKUPECZ (on camera): Do you feel you need to prepare differently?

BARNES: We want to try to prepare for, you know, worst-case scenario. But I do believe that depending on who wins or who loses, the tenor of the conversation will change.

[14:45:09]

We hope that there's a concession speech and it allows people to heal and move on and put what appears to be a divided country back on the same path.

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KEILAR: Our thanks to Shimon Prokupecz for that report.

It is a key district in the heartland of the U.S., one that could play a role not only in the presidential election, but also when it comes to the balance of power in Congress.

Up next, we'll speak with a Democrat trying to unseat the GOP incumbent in Nebraska's second congressional district.

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[14:50:07] KEILAR: Could it really all come down to a blue dot in a sea of red? That's what Nebraska's second congressional district has become known as.

And it's now a critical path to both to 270 Electoral College votes in the White House and also potentially control of Congress. A lot is riding on this reliably Republican state and it's blue dot.

Here to discuss is Democratic State Senator and congressional candidate, Tony Vargas, from Nebraska's second district.

First, Tony, thank you so much for being with us.

I want to outline your race for our viewers, because you are in a re- match with Republican Congressman Don Bacon, who we had on the show last week.

This is a district in the Omaha area, one of the most competitive in the country, one that Joe Biden flipped back in 2020. But then, it went on to re-elect your Republican opponent.

I wonder, what is different about this cycle, and especially how turnout in a presidential election might impact your race?

STATE SEN. TONY VARGAS (D-NE) & U.S. CONGRESSIONAL CANDIDATE FOR NEBRASKA: Well, thank you, Boris.

Well, there's a couple of things that I think are really important about Nebraska's second district. The first is, this is an independent place. This is where Trump won in 2016. This is where Biden won in 2020.

And it's also the place where we have been knocking on doors since pretty much day one of this cycle. We have knocked on 15 times more doors than two years ago.

And also voters have seen what a Republican Congress have done when they're in leadership, which is one of the most ineffective Congresses in any of our lifetimes.

So they're looking for new leadership. This is Republican and Democrats and Independents alike that are coming across the aisle to support our campaign and make history tomorrow for Nebraska's second district.

SANCHEZ: So do you think Vice President Harris is going to run up the numbers enough that it will change the dynamics in your race?

VARGAS: I think there are two things that have been happening since day one of this election. The first is, there are groups of voters that we have been talking about that have been excited for change for this district in Nebraska.

Second, there are people from all different walks of life that are coming out of the woodworks. And also that Harris and Walz have been inspiring and igniting different groups of people to also get excited about not only winning this electoral vote but winning back the House.

This is about whether or not we can actually govern, whether or not we can pass budgets. But this Congress has shown that they are unable to govern on their own, and so we need to make sure that we're winning back the House.

We're seeing the motivation with Harris and Walz, and seeing the motivation with our campaign, as well.

SANCHEZ: I want to ask you about something Congressman Bacon said last week. He argued that you have launched dishonest attacks on him regarding abortion. Obviously, an important issue.

He expressed support for your states current law. It's a 12-week ban with some exceptions. Do you not believe that he's being honest?

VARGAS: You know, I think what is important are the facts. And I think Congressman Bacon would love for Nebraska voters to forget that he was an original co-sponsor of the Life-to-Conception Act. And he didn't just co-sponsor it once. He cosponsored it three separate times.

This is a full abortion ban in the constitution with no exceptions for the life of the mother, rape, or incest. It has no carveouts for IVF. And he's realizing this is out of step with Nebraskans.

It doesn't matter if you're a Republican, Democrat or independent. Nebraskans support women's reproduction freedoms. And he's realizing this is unpopular and now he's trying to distance himself because it's politically inconvenient?

This is not the type of congressperson we need representing this district. I want to make sure we protect reproduction rights and also focus on the real facing Nebraskans, cost of living, addressing inflation, creating jobs, and providing these freedoms for women in Nebraska's second district.

So unfortunately, Congressman Bacon is out of step with them. He's afraid. And it's important that people know what his real record is and how important it is for reproductive rights for women.

SANCHEZ: He would point out that he supported that bill more as a statement of principle, a messaging bill, and that it effectively did not take any action against abortion. It didn't mention abortion. And the last time it came up, when the language changed, he did not support it.

I do want to ask you about immigration. Because that's another key issue in this election.

Your Web site argues that both parties have failed the country on immigration. I wonder, this is something that frequently argued, and I'm curious to get your response.

Do you wonder if the Biden administration's more humanitarian approach, their easing of Trump-era restrictions led to the record number of illegal border crossings that we saw in this administration? VARGAS: You know, I think the responsibility we need to focus on right

now is what Congress can and should do. It's the office that I'm running for.

And what I've seen right now are Republicans and Democrats alike, we're not able to solve this issue, because there's too much partisan gridlock.

And instead of complaining about it, it's the reason why I'm running. I'm the proud son of immigrants. I believe that we need an earned pathway to citizenship, we need some real reforms.

But also, we're seeing what is happening at our border. We need border secure. We need to improve the funding and increase the capacity to address these issues at the border.

[14:55:09]

It's why I publicly stated, I would have supported that Senate-led, Republican-led border security package that border security and patrol associations support.

I would have supported it because it's important to help address this issue. And I've come across a lot of things in the Nebraska legislature, and this is another example where we need leadership.

Republicans, right now, didn't want to solve this problem, because Donald Trump told them not to. And unfortunately, we need Democrats right now to solve this issue and come across the aisle and work on it for the American people.

SANCHEZ: Tony Vargas, candidate for Nebraska's second House district, we appreciate you joining us and sharing your perspective.

VARGAS: Thank you.

SANCHEZ: Of course.

And down the stretch they come. Both presidential candidates making their final pitch to voters, with a lot of emphasis on one state or commonwealth, in particular. We'll take you there live when we come back.

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