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Presidential Debates Take a Historic Turn as Biden and Trump Agree to Summer Showdown; See What it`s like in a `Doing Nothing` Competition. Aired 4-4:10a ET
Aired May 17, 2024 - 04:00 ET
THIS IS A RUSH TRANSCRIPT. THIS COPY MAY NOT BE IN ITS FINAL FORM AND MAY BE UPDATED.
COY WIRE, CNN 10 ANCHOR: What`s up, Superstar? Fri-yay all day. Way to crank out another week. Hope it`s been a great one, and hope your weekend`s
about to be epic. I`m Coy, this is CNN 10.
Let`s start today talking about the current housing market in the United States. An increasing number of potential first-time home buyers are
becoming concerned that they simply might not be able to afford a home. According to a new Gallup survey, three out of every four Americans say
it`s a bad time to buy.
(BEGIN VIDEOTAPE)
STUART GABRIEL, DIRECTOR, ZIMAN CENTER FOR REAL ESTATE AT UCLA: We have a generation today who I think is more pessimistic than any other generation
about even the chance that they`ll ever be homeowners.
WIRE: Now, young Americans have been battling a one-two punch of high home prices and painful mortgage rates. It`s important to understand how these
two things work. High prices are fairly straightforward. Homes are really expensive. In fact, it`s likely the most expensive purchase you`ll ever
make, right? A mortgage rate is how much you`ll have to pay to borrow money to make that purchase. Right now, that number is around 7%.
JESSICA LAUTZ, DEPUTY CHIEF ECONOMIST, NATIONAL ASSOCIATION OF REALTORS: Unfortunately, higher interest rates are really the wet blanket of spring
right now.
WIRE: All right, let`s say you wanted to buy a $400,000 house today, and you needed to borrow money from the bank. Well, with a 30-year fixed
mortgage with a 7% interest rate, you`d pay back your loan over 30 years with that same 7% interest rate, and by the end of the 30 years, you would
have ended up paying $750,000 for a $400,000 home.
GABRIEL: Home ownership, which has traditionally been a vehicle of wealth accumulation for the typical American household, is just unavailable to a
large segment of the population. So we really have a kind of a tale of two Americas that`s emerged.
WIRE: Now, at the same time, rising home prices have boosted homeowners` net worth. That`s great for homeowners, but it doesn`t help home buyers or
potential buyers who are trying to purchase their first house.
LAUTZ: We continue to see multiple offers, three offers for every home that`s listed as an average. So those bidding wars are continuing with that
lack of inventory.
WIRE: Mortgage rates should drop once the Federal Reserve lowers interest rates, but inflation has been really stubborn, and it`s taken longer than
expected. That`s led many young Americans to continue renting or to live at home with family.
(END VIDEOTAPE)
WIRE: Ten second trivia.
When was the first presidential debate televised?
1954, 1960, 1972, or 1980?
If you said 1960, slay. The first televised presidential debate was between John F. Kennedy and Richard Nixon, and it took place in 1960. It was
straight from a television studio with no live audience.
President Joe Biden and former President Donald Trump have accepted CNN`s invitation to debate in June. This is an historically early debate that
will set the tone for the final months of the 2024 campaign. And it`s unique because it`s a presidential debate between two people who`ve already
done the job. Both men also accepted an invitation for a second debate in September. President Biden released an ad campaign confirming his
participation.
(BEGIN VIDEO CLIP)
JOE BIDEN, (D) U.S. PRESIDENT: Well, make my day, pal. I`ll even do it twice. So let`s pick the dates, Donald. I hear you`re free on Wednesdays.
(END VIDEO CLIP)
WIRE: Former President Trump replied on Truth Social by posting, I am ready and willing to debate Crooked Joe at the two proposed times in June and
September.
Former President Trump added that he would strongly recommend more than two debates. These are certain to be highly anticipated debates. Here`s CNN`s
Brian Todd with some of the greatest moments in presidential debate history.
(BEGIN VIDEOTAPE)
BRIAN TODD, CNN CORRESPONDENT (voice-over): For more than 60 years, televised presidential debates have provided us with extraordinary,
decisive moments, which often changed the tenor of the race.
UNIDENTIFIED MALE: The candidates need no introduction.
TODD: September 1960, in the very first televised presidential debate, Richard Nixon, who was ill, was visibly sweating compared to his cool and
youthful opponent, John F. Kennedy.
TIM NAFTALI, FORMER DIRECTOR, NIXON PRESIDENTIAL LIBRARY: When the two were viewed side by side and you asked yourself, whose finger would you like to
be on the nuclear button? It became clear you didn`t want the sweaty guy from California.
TODD: In 1984, Ronald Reagan, then 73 years old, used humor to deftly deflect concerns about his age in a debate with Walter Mondale.
RONALD REAGAN, (R) VICE PRESIDENTIAL CANDIDATE: I am not going to exploit, for political purposes, my opponent`s youth and inexperience.
NAFTALI: The effect was magical and politically devastating for Walter Mondale.
TODD: Most of those defining moments came with no warning or calculation.
LAURA BARRON-LOPEZ, CNN POLITICAL ANALYST: A bad moment in a debate can hurt you significantly more than a good moment can help you.
TODD: In the vice-presidential debate in 1988, Dan Quayle characterized himself as a Republican version of a young John Kennedy, which teed up his
opponent, Lloyd Bentsen, perfectly.
LLOYD BENTSEN, (D) VICE PRESIDENTIAL CANDIDATE: Senator, I served with Jack Kennedy. I knew Jack Kennedy. Jack Kennedy was a friend of mine. Senator,
you`re no Jack Kennedy.
TODD: There were the wordless missteps, the body language gaffes. 1992, George H.W. Bush looking out of touch by glancing at his watch when an
audience member spoke about the lagging economy. 2000, Al Gore audibly sighs.
And in another debate that year, Gore gets a little too close to George W. Bush on stage.
BARRON-LOPEZ: Any little tick or habit that a candidate may have is something that voters could seize on and it could change the way they view
the candidate.
TODD (on camera): If there are colorful moments like those in the debates coming up, analyst Laura Barron-Lopez says she doesn`t believe they`ll be
as impactful as those past moments were, because she says so many Americans have already decided who they`re going to vote for. And those moments, no
matter how sensational, simply won`t move the needle as much. Brian Todd, CNN, Washington.
(END VIDEOTAPE)
WIRE: Let`s head to South Korea for today`s story, getting a 10 out of 10. Seoul`s annual Space-Out Competition. It`s not about the stars or planets
or anything like that, it`s about challenging the social norm that downtime is a waste of time. The competition is trying to show that doing absolutely
nothing can be valuable. CNN`s Hanako Montgomery has more.
(BEGIN VIDEOTAPE)
HANAKO MONTGOMERY, CNN CORRESPONDENT (voice-over): A crowd gathering, media jostling for the best spot to catch sight of a fierce competition among
more than 100 people in South Korea recently. They are rivaling each other in Seoul`s annual Space-Out Competition, where contestants have to zone out
for 90 minutes without falling asleep or checking their phones. The winner gets determined based on audience votes and competitors` heart rate.
This year, more than 4,000 people applied to participate in the competition, the city government says. From an Olympic athlete to bakers,
contestants came dressed in clothes that reflect their different professions.
KWAK YOON-GY, SHORT TRACK SPEED SKATER (through translator): I tried out for the Olympics five times and have never taken a proper rest while
training for 30 years. I heard this place is where I can clear my mind and rest at least during this time. So I came here thinking, wow, this is what
I needed so much.
GU GA-HYEON, BAKER (through translator): While we stare at the oven, we see customers outside the window going out after buying bread while we work in
the hot heat. We`re so tired and exhausted, so we wanted to relax our mind.
MONTGOMERY : Since its first competition in Seoul in 2014, the contest has expanded internationally, taking places in cities like Beijing and Tokyo.
For this year`s competition in Seoul, the winning trophy went to a freelance broadcaster, Kwon So-a, who works multiple jobs.
KWON SO-A, FREELANCE BROADCASTER: I think, especially here in Korea, it`s such a competitive country where people think that if they do nothing, they
are a little behind. So I think everyone has to have their own pace and sometimes just slow down.
MONTGOMERY: Hanako Montgomery, CNN.
(END VIDEOTAPE)
WIRE: Smell the flowers, cool the soup. It`s Friday. I want to give a shout out to Mr. Francisco`s American Studies class at Rogers High School in
Toledo, Ohio today. Rams, you rock.
Next, this shout out goes to Ms. Mormon and Mr. Creech`s Social Studies class at Georgia Academy for the blind in Macon, Georgia. Rise up.
I hope you have an awesome weekend. Don`t ever underestimate your ability to make someone`s day. You are more powerful than you know.
I`m Coy. This is CNN 10. It`s been a blessing to spend this week with you.
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