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The U.S. Debt Ceiling; The End Of The Original Jumbo Jet. Aired 4- 4:10a ET

Aired February 02, 2023 - 04:00:00   ET

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

COY WIRE, CNN 10 ANCHOR: Hello, everyone. It`s Thursday. So happy Friday eve. I`m Coy Wire.

And we`re going to start this day with a shout-out to all the teachers out there, keep uplifting, guiding and inspiring. You`re so money, baby.

Students, dap up your teacher today, give them a handshake or high five and let them know you appreciate them.

Speaking of money, let`s start today by talking about the debt ceiling in the United States. In case you`re still unsure about exactly what the debt

ceiling is, we`ve got you covered.

You can also call it the government`s debt limit. It`s the total amount of money the United States government is authorized to borrow to meet its

existing legal obligations, like paying for military salaries, tax refunds, Social Security and Medicare benefits, and interest on the national debt

among other things.

But once the debt limit is reached and if the government can`t borrow any more money, that means the government could fail to make payments, fail to

take care of its own obligations by defaulting on all national debt, and that would greatly impact the U.S. government`s reputation across the

globe.

We`ll hear more now from White House correspondent Arlette Saenz on what the United States government could be facing in the near future and what

the impact could be.

(BEGIN VIDEOTAPE)

ARLETTE SAENZ, CNN WHITE HOUSE CORRESPONDENT: President Biden and House Speaker Kevin McCarthy are heading towards a high-stakes showdown over the

debt ceilings. This will be the first time Biden McCarthy are meeting in person since McCarthy became House Speaker and both sides have said the

debt limit will be on the table.

Now both men have said that they don`t want to see the nation default on their debts but for the time being they disagree on how to get there.

House Speaker Kevin McCarthy has insisted that he believes there should be negotiations and that ultimately, they believe that there need to be

spending cuts if the debt ceiling will be raised. But President Biden and the White House have insisted that there will be no negotiations over this,

and that Congress must fulfill their obligation to raise the debt ceiling.

A spokesperson for the White House saying in a statement, quote, the president will ask Speaker McCarthy if he intends to meet his

constitutional obligation to prevent a national default, as every other House and Senate leader in U.S. history has done, and as leaders McConnell

Schumer and Jeffries have pledged to do. The president, they add, will underscore that the economic security of all Americans cannot be held

hostage to force unpopular cuts on working families.

Now, Treasury Secretary Janet Yellen has said that they are using extraordinary measures until this moment and that the nation`s debt limit

must be raised by early June. So, certainly this could have huge ripple effects for the U.S. economy if the nation were to default on their debt.

(END VIDEOTAPE)

WIRE: Okay, imagine trying to find a tiny capsule just eight millimeters long and trying to find it on an enormous highway in Australia. Now,

imagine the pressure when this tiny capsule is filled with a highly radioactive material.

A capsule containing cesium-137 which can cause serious harm went missing as it traveled hundreds and hundreds of miles from a mining site to Perth,

the capital of Western Australia. Authorities said this would have been like trying to find a needle in a haystack.

So, was this search worthless? Was this mission just an exercise in floccinaucinihilipilification? Or did they find this elusive capsule after

all?

Here`s CNN international correspondent Marc Stewart with the latest.

(BEGIN VIDEOTAPE)

MARC STEWART, CNN INTERNATIONAL CORRESPONDENT: The radioactive capsule has been found and to give you some context, this is a Hong Kong coin similar

in size to a U.S. dime. It`s that small. It is used in mining.

Here is the history: the capsule was discovered six days after authorities realized it went missing, likely after falling off a truck. Eventually it

was found off the side of a road by crews using radiation detection equipment. It was found not far from the Rio Tinto mine, suggesting it fell

off the truck soon after it left on January 12th.

But the potential search area was enormous a distance longer than the California coastline. A perimeter was set up and now the goal is to

transport it in a lead container to a health department facility in Perth.

This was concerning because human exposure could cause skin burns, radiation sickness. There`s even a cancer risk in some cases.

Authorities felt the chance of finding it was slim now they must determine how this happened in the first place.

(END VIDEOTAPE)

WIRE: Ten-second trivia:

Which airplane model was the first airplane to be considered a jumbo jet?

747, DC-10, 737, or A380?

With its first flight on February 9th, 1969, the 747 is your answer here. It was called jumbo jet as it was the first wide body airliner.

And up next, we will salute the queen of the skies, the Boeing 747. This spacious and sleek aircraft that was once touted as the future of airplane

travel when it took off in 1969 is now a plane of the past, as airlines are opting for more fuel-efficient alternatives.

This week, Boeing completed and delivered the last 747 to ever be built. And on Wednesday, the plane flew a path spelling out on the flight tracker

to commemorate the moment.

Let`s learn more about the history of this jumbo jet and what`s in store for the airlines of the future.

(BEGIN VIDEOTAPE)

REPORTER: When it was revealed in 1969, it broke the mold and defined jumbo. It brought jet travel to the people, carried world leaders, cultural

icons, and even spacecraft.

For half a century, it was the queen of the skies. But now, the last model has been delivered, Boeing 747 is beginning to approach its final

touchdown.

Built to meet the boom in demand for air travel in the 1960s, the 747 was a giant that needed the world`s largest factory to match its jumbo

proportions, 225 feet from nose to tail it had a wing surface bigger than a basketball court, and its innovative wide body double aisle and double deck

design would allow it to carry up to 500 passengers, while ensuring it would also be a freight hauling behemoth with looks like no other.

UNIDENTIFIED MALE: Pan-am will bring you the plane with all the room in the world, before you know it.

REPORTER: Taking to the skies for its first commercial flight in 1970, the 747 cut airfares in half and opened up a world of affordable air travel.

Airlines across the globe clamored to have a jumbo jet in their fleet, and airports and their equipment had to be modified to accommodate its enormous

size and passenger capacity.

But spacious interiors, a trademark spiral staircase and superior service also had the world`s rich and famous flocking. Glamorous silver screen

appearances cemented its lavish reputation, and it became the go-to transport for many of the world`s elite, a trend set to continue with the

presidentially modified Air Force One.

The 747 was so capable, it was even used to transport NASA`s space shuttles and it continues to be used to launch satellites with Virgin Orbit.

But the queen of the sky`s days of carrying passengers are entering their final chapter. Sales of the redesigned 747-8 failed to take off, with

airlines opting for more fuel-efficient two-engine alternatives.

Pandemic travel lockdowns grounded much of the remaining fleet and the last made like most still in service will be used to fly cargo.

And so, after half a century of service, the sun is beginning to set on Boeing 747. It`ll be remembered as one of the most important airplanes ever

made.

(END VIDEOTAPE)

WIRE: And today`s story getting a 10 out of 10, a Rorschach test from Mars. What do you see when you look at this photo of a rock formation on

Mars? A Rorschach test is a psychological test where a person looks at ink blots and then reveals what they see and psychologists analyze the answers

to examine a person`s personality characteristics, it`s all in the eyes of the bear holder.

What this actually is that we`re seeing is a circular fracture on the surface of Mars, with craters. This high-resolution photo was captured by a

reconnaissance orbiter, a spacecraft designed to search for the existence of water on Mars as part of NASA`s Mars exploration program.

All right. So many great your word Wednesday submissions yesterday. Thanks to Ms. Spicer`s civics class at Hughes. Today`s word is

floccinaucinihilipilification. And this is a noun, one of the longest words in the English language, not easy to pronounce, it means the estimation of

something as valueless. Well done, everyone.

And shout out now to Butte County High School in Arco, Idaho. We see you.

We hope you and everyone watching around the world have a wonderful one. I`m Coy Wire, and this is CNN 10.

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