tv Face the Nation CBS August 8, 2022 2:30am-3:00am PDT
roasted red peppers, and smothered with melty american cheese. the new pastrami cheese steak. try steak or chicken, too. now at togo's i'm margaret brennan in washington and this week on "face the nation," finally some good news for president biden and the democrats on the economic front. but will it be enough to help them until the november midterm elections? finally free from covid isolation, president biden's last week has been filled with surprises including a july jobs report with double the number of expected jobs. unemployment is now at a half century low, equal to what it was pre-pandemic. and the msmile on his face this morning. at long la, t unity oneocra when soporting a
long-stalled bill designed to help fight climate change, cut health care costs and raise taxes on corporations. but there are more challenges ahead for mr. biden, including a national public health crisis with rapidly spreading monkeypox cases and new backlash from the chinese following speaker pelosi's trip to taiwan. finally, campaign '22 is shaping up as a highly unusual one. we'll look at the trump impact that's influencing republican primary candidates and the tactics democrats are using to try and defeat them. it's all just ahead on "face the nation." captioning funded by cbs as we come on the air, the
senate hopes to reduce carbon emissions 40% by 2030. this long-stalled bill will now expand credits for the manufacture and purchase of electric vehicles, allocate money to fight drought and western states. the bill also cuts health care costs by cutting premiums and caps out of pocket medicare drug costs for seniors at $2,000 a year. to pay for all of that spending, the bill calls for a 15% corporate minimum tax on companies that book income of more than a billion dollars a year and will provide money for the irs to crack down on tax enforcement. with the senate split 50/50 between the parties, vice president kamala harris is expected to break the tie, which would give democrats a much-needed boost headed into
the november elections. we go now to capitol hill, and florida senator rick scott who is in between votes on the senate floor. he's also the head of the republican senate campaign committee working to take control of the senate. senator scott, good morning. i know you have been up all night so i appreciate you joining this morning. >> i hope i'm coherent. >> well, you know, no matter what, it does not look like there's any way to stop what is expected to be a very big win here for democrats, and i know you're opposed to it, but i want to press you on that, because isn't expanding medicare access good for a state like yours which has more residents reliant on the affordable care act than any other state? and republicans like reducing the deficit. the cbo says this will reduce it by $100 billio over the next decade. isn't there some good stuff in here for you too? >> margaret, here's the way i look at it. right now this bill actually ought to be called the war on,
umm, seniors act. this is a war on medicare. you look at this, this is a $280 billion cut in medicare. so what's going to happen is, medicare is going to be cut, and there's going to be seniors that don't get lifesaving drugs -- >> reducing medicare costs is not the same as reducing benefits, though. you know that. >> margaret, it's $280 billion that would have been spent, that was anticipated to be spent, that's not going to be spent now. and the drug companies that would be doing more research are not going to be able to spend the money on research. there will be lifesaving drugs that seniors will not get. on top of that, they're going to raise taxes by over $700 billion. let's remember, companies don't end up paying the taxes. shareholders are paying the taxes, less investment pays the taxes. so this $700 billion is actually going to hurt the economy. and then while gas prices are $2 more than they were when joe biden took office, there's an excise tax on gas. so why would you -- we're in a recession. why would you be increasing the
cost of government, increasing taxes? >> so the committee for responsible federal budget called your claim there that you just reiterated in terms of medicare spending completely misleading. the congressional budget office estimates that just about 1% of new drugs would be affected by the changes there on drug development. so how do you respond to that? >> wait a minute, wait a minute. if it's your grandmother, is that 1% not important, if it impacts a lifesaving drug that we could do now, we shouldn't be cutting medicare like this. i don't believe it. and by the way, we shouldn't be raising taxes ever, but especially in a recession, and why would we be raising the taxes, umm, on gas right now when it's $2 above what it was when joe biden took office? this is going to continue to drive us into, umm, a bigger recession than we were. look at where we are right now, labor participation rates slow,
wages not staying up with inflation, two quarters negative gdp. joe biden has pushed us and these plans are pushing us into a recession so i think we've got to stop raising taxes. we've got to make it easier for businesses to build their businesses, compete, and we'll get more jobs. >> mm-hmm. you know we just had that stellar july jobs number. but we're going to dig into the specifics of that ahead with economists mary daly. let me talk to you about the politics of all of this. republicans had been hoping to ride the high inflation that we're at, and it is an historic high, and president biden's low approval ratings to a win in november. but the president and democrats just had a really good streak here. gas prices are down. you have this massive spending bill going through. these are a lot of big wins for democrats. the president just authorized that strike to take out the leader of al qaeda. isn't this going to get harder for republicans to get the edge that you were trying to manufacture here?
>> well, you know, that sounds good, right, but that's white house talking points. let's think about this. 72% of americans believe we're headed on the wrong track. biden's numbers are in the tank. if you look at all the democrat -- umm, all the democrats running, basically they're a surrogate for joe biden and chuck schumer. they have to defend inflation, high gas prices, umm, open borders, defunding the police. that's what biden is known for, that's basically what democrats are known for. look, it's an election year, we have 21 republicans up, only 14 democrats. the democrats are outraising us. but we have good candidates and i believe joe biden will be key here. >> i want to play for you what republican leader mitch mcconnell told fox last week. >> i think it's going to be a very tight -- we have a 50/50
senate now, we have a 50/50 nation, and i think when this senate race smoke clears we're likely to have a very, very close senate still, with either us up slightly or the democrats up slightly. >> if things are so bad, then why is it going to be so tight for republicans? >> well, first off, we have very good candidates. i mean, the democrats are raising good money. so we've got to be able to get our message out. so, you know, we have to raise our money. we have to work hard. we went through a lot of primaries. so -- but i believe -- i believe we're going to win but it's going to be hard. we have to raise our money, we have have to work really hard, our candidates have to work really hard. everybody has to help our candidates. but i'm optimistic. >> but you do agree it's going to be tight, that republicans have at best a slight edge? >> i'm -- i'm very optimistic. but i'm -- i'm realistic that you have to raise your money. democrats are raising good money. joe biden is our key here.
by the way, this bill is not going to help democrats, it's going to help republicans. raising taxes $700 billion, cutting medicare $280 billion, raising gas taxes, more irs agents. do you know how hap peoeto hmoi there?ths goibear around the country. >> in a local radio interview in july you talked a lot about your business as an executive and you said we should start electing people that we would hire. in georgia, herschel walker, republican senate candidate, has lied about the number of children he has, about his business dealings, his ex-wife said he held a gun to her head and said "i'm going to blow your effing brains out." blake masters said that al qaeda doesn't actually pose substantial threat to americans. i have a list of candidates here who have said some pretty
troubling things. would you hire these people to work for you? >> well, you would go through each person. but i'm not the one doing it. it's the voters of those states doing it. the voters of those states are going to make a choice. >> you're trying to help senate republicans and lead them to victory. these are your candidates. >> so, you know, margaret, as you remember, the voters in arizona will choose who they're going to vote for. they'll choose between blake masters and mark kelly. mark kelly has voted for tax increases, for cutting medicare. he's voted with chuck schumer and joe biden much of the time. this election is going to be about all the bad things that have happened. the fact that we're going into a recession, the fact that, you know, inflation is at 9%, that gas prices are up $2, all these things, that's what people are looking at. >> these are your senate
republican candidates. these are your candidates. >> and the -- >> would you hire them? >> the voters of these states will decide whether to hire them. i get to vote in the state of florida. it's a choice between two people. look, the -- all the democrat nominees are -- are basically biden clones. by the way -- >> but you would acknowledge, you would acknowledge that if somebody went in for an interview for a private corporation, these things would come up as red flags to hr. >> margaret, biden is not campaigning with anybody because he's toxic. that's how the voters think. that's why they say 72% of americans say the economy is on the wrong track. when that happens people say i'm going to take a serious look at somebody else. the candidates tell them what they're going to do. everybody knows exactly who the democrats are. that's what's going to happen all across the country and we're
going to have races and we'll see what happens. >> are you advising your candidates in these races to accept the outcome of their elections since so many of them are questioning, still, the outcome of the 2020 race? >> well, margaret, let's remember, that's exactly what happened to me with bill nelson and mark elias, they didn't accept the outcome of the election and tried to illegally count ballots after election day after i won by 57,000 votes so election security is very important to me. and i want to make sure we make sure we do everything we can to make sure people know the election is fair. we're already putting together teams, which i had to do in florida in '18, teams of lawyers and volunteers to make sure the election is fair. >> but you accept the elections are -- you know, that the integrity of these races, that all your candidates are in, or you're only going to have a problem with them if they lose? >> well, i -- i -- you know, i want free and fair elections so i'm going to work my -- work hard to make sure these elections are fair, then everybody will get to decide at
the time. so i -- i -- i'm still frustrated at what happened with my race, we spent millions of dollars to make sure we won and we won election night and they tried to count illegal ballots on election night and that's wrong. >> before i let you go, do you think that the u.s. military should be deployed to defend taiwan if china makes a move on it? >> i think we've got to be very clear that we will defend taiwan. we've got to be very clear exactly what's going to happen to china, exactly what sanctions will happen to china if they invade taiwan. every american, whenever she see a box that says made in china, they ought to send it back to whoever sent it to them and say i don't want anything made in ch china. >> senator, i'll let you get back to work. "face the nation" will be back in a minute. stay with us. ♪ ♪
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pfizer, he join us this morning from san francisco. dr. gottlieb, good to have you back. you have been warning on this program for some time now that monkeypox was past the point of containment. this week the biden administration acknowledged it is a national public health emergency, they added two senior advisers to the white house to run point. what difference does it make now, can they catch up? >> look, i think they can still catch up. i think there's the potential to get this back in the box. but it's going to very difficult at this point. we're continuing to look for cases in the community of men who have sex with men, it's primarily spreading in that community. no question there's spread outside that community at this point. i think we need to start looking for cases more broadly. we're looking for cases in that community and so we're finding them there, but we need to start looking for cases beyond that community. we need to test people with an atypical case of shingles or herpes and test them for
monkeypox as well. i think the cdc is reluctant to make that determination. we need to start testing more broadly. right now cdc has the capacity to conduct 80,000 tests a week, they're doing about 8,000. so they can broaden this substantially by changing the case definition and recommend more doctors test and look for this infection in the community. >> to your point about broader spread, in illinois a day-care worker tested positive for monkeypox and exposed children. the fda are allowing those kids to be vaccinated. parents are about to send their kids back to school. should they be worried about this now? >> look, i don't think this is something that people need to be generally worried about. i think probably the incidence of this infection in the broader community is still very low. your risk of coming into contact with monkeypox is exceedingly low. outside of certain social networks where you see a higher case rate. but if we want to contain this, if we want to prevent this from
becoming an endemic virus, we need to look more widely for it. the worst case scenario is we start testing more broadly and don't find it, that would be reassuring, but we should still do it. we could start to look for monkeypox in wastewater to see if it's spreading in communities and geographic locations where right now we don't think it's spreading but it could be. >> we don't know. on vaccines, we know there is a national shortage. there are two doses of this vaccine that are required. hhs and the fda said on thursday that they're looking at a dose-sparing approach to stretch out existing supply. how does that work, what does that mean? >> right, so this decision could come as early as this week. the emergency use authorization that they could issue, it flows from the public health emergency that they declared. so this would be the first practical effect of that public health emergency. what they would do is cut the dose by a fifth.
so they only give one fifth of the dose. and instead of injectig it subcutaneously, so below the skin, they would inject it intradermally, into the top layer of the skin. think about a test you get, for example, for tuberculosis, that's an intradermal infection. we know we inject certain things into the skin in that way, it's very immunogeneimmuno-genic. when they prepared for smallpox, they thought about how we would extend vaccines for smallpox, we learned that that can transferable to monkeypox. they're sure they can deliver a strong immunologic response intradermally. so instead of having 800,000
doses they would have between 4 and 5 million doses immediately. >> but this is essentially an experiment in real time. >> we've done it before. we did it for yellow fever, we've done it for ebola. we've done these dose-sparing strategies in public health emergencies. it's unfortunate we find ourselves in this position, there were opportunities earlier, but this is a solution to an immediate public health challenge. >> i want to ask you about covid. president biden has at the end of the negative twice now, he's out of isolation. pfizer makes paxlovid, the drug that the president took. i know you're on the board of pfizer, as we say. the white house says 5 to 10% of cases have these rebounds. but this is a pretty high profile case. dr. fauci had a rebound too. does this indicate anything about how someone fares long term from covid? how do we understand this? >> look, the good news is the president is feeling well. my understanding is he didn't experience any new symptoms
during this second bout of infectivity. so he was testing positive, but did not in fact mount new symptoms. that's a good sign. i don't think he's going to have long term implications because he had this second course of illness from covid. we don't know, but i think the president is going to do quite well given what we know about his case. the white house has been very transparent. you're seeing these cases of rebound, you're right. so far the data seems to suggest it's about 5% of cases. you also see rebound with the other drugs and you see it in the setting of natural infection. it's being studied. pfizer right now, which as you mentioned i'm on the board of, is talking to fda on doing additional studies on how to approach these cases, whether you recourse the therapy or extend the dose, the length of treatment in certain patients. so we don't know how to approach this fully right now. but it's a small percentage of cases where you're seeing these phenomena. >> quickly, the cdc is expected to loosen covid guidelines for schools. do you favor this?
>> look, i think it reflects the reality that more kids have been exposed to this virus. they're not immune logically naive. we want to do more about keeping kids in the classroom. there are still ways we can keep kids safe in the classrooms and remain vigilant and lift some of these restrictions that have caused a lot of kids to miss school days. the test to stay strategies, we've turned over a lot of infections that were asymptomatic and forced kids out of the classroom, i think they can lift those things at this point and that seems to be where cdc is heading, but still remain vigilant, for example notifying parents when there is a close contact so parents can get their children tested. >> dr. gottlieb, we'll be watching that, thank you. we'll be back in a moment. stay with us. ♪♪ even if you don't feel it. meta portal. the smart video calling device... - right on time! - of course. that makes work from home work for you. so, shall we get started? psoriatic arthritis, made my joints stiff,
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ask you doctor so democrats in congress are doing something about it. launching a plan that reduces monthly expenses. it drives down the cost of prescription drugs. and ramps up production of american-made clean energy - reducing energy bills for families. we can take on climate change, in a way that saves families real money, right when they need it most. we do it by quickly passing the inflation reduction act. americans can't afford to wait. we turn to the state of the economy and the president of the san francisco federal reserve bank, mary daly. good morning to you. >> good morning. >> the san francisco fed said fiscal spending during the
entirety of the pandemic, all the congressional funding, contributed to a 3% hike in inflation. do you expect the congressional bill that's about to pass to add to inflation as well? >> well, let's remember that during the time that there was this fiscal relief during the pandemic, there was also monetary policy relief and those were things necessary to get us through the pandemic. so that's why that was such an important component. and history will be the judge whether it was too much or too little. right now that's where it is, and my staff have evaluated that. looking forward, so many things are going on in the economy right now, both domestically and globally, and we're struggling with high inflation, but the fed is committed to bringing that down. we're looking at not only what congress passes but things that happen across the entire world. >> do you think this bill will add to know inflation? has inflation peaked, can you say that? >> i really can't comment on
pending legislation. it's really hard to tell, because all the details haven't been worked out yet or the time frame in which those things will take place. so right now, i think the most important thing, margaret, is that inflation is too high, and the labor market is strong, the global economy is struggling with ongoing high inflation, and that's what i'm focused on. >> you're a labor economist. we had the surprisingly strong jobs number on friday. why was it so surprising? what was it that economists missed here? what was your takeaway? >> you know, it's super interesting. it did surprise everyone who tries to figure out exactly what the number will be. and number projections were well off. but frankly, if you're out in the communities, if you're traveling anywhere, you're just going in your own community, i don't think consumers or workers or businesses were that surprised. there's help wanted signs all over the place. people can find multiple jobs if they want them, search times for
jobs aren't that long. i think the labor market is continuing to deliver. it just tells me that people want to work and people want to hire. the universal truth is inflation is too high. >> does it indicate that recession is not where we are or where we're going? >> if you're out in the economy, you don't feel like you're in a recession, that's the bottom line. the most important risk out there is inflation. i think the job market just confirms that. >> we'll take a break and come right back, mary daly, stay with us. we have more questions.
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the new pastrami cheese steak. try steak or chicken, too. now at togo's welcome back to "face the nation." we continue our conversation now with the head of the san francisco federal reserve bank, mary daly. in that jobs number on friday, we also saw that wages rose, but they're not rising as quickly as inflation is. how concerned are you that that shows inflation is really becoming embedded in the economy in a way that is really going to force your colleagues at the fed to continue to have to hike rates? >> you know, you don't see inflation as embedded in the economy. the kind of things we would worry about just not being able to correct easily. what i see is supply and demand are just unbalanced. about 50%,