manus? manus: thank you very much. turkish lira falls for the fourth day in a row, another record low. three major interventions by the central bank have proven very little to stop the drop in the turkish lira. can see a very aggressive selloff as europe against to calm. emerging-market chief economist said very little. stop this unless a shift in rhetoric from mr. erdogan. coming up, saudi arabia expects its first budget cuts in eight years. we have the finance minister in an exclusive from bloomberg. ♪ manus: it is "daybreak: europe." want to check on the lira again, building on this narrative, the new turkish finance minister reassuring businesses on the market and economy. he had a meeting over the weekend. of course he reassured them the government won't retreat from free-market principles amid the currency rout. this is a six-hour meeting he had with them. of course he favors rate cuts. unlike his predecessor who quit. the market grasps a hold of that line. he favors rate cuts, unlike his predecessor who quit. th

this is bloomberg. ♪ manus: it is daybreak era. i'm manus in dubai.natural gas prices closing at record levels. putting further pressure on already low stockpiles. it is a toxic combination. our energy reporter, freezing weather forecasts, more pressure supplies. we are looking at the european contract. up 700% this year. at what juncture will we see italy step in to help the consumer? talk me through the scale of this. will this endure? dan: it will. this cold weather that is coming will only make it worse. european gas storage is only about 62% fall right now. normally at this time of year, it fills up all summer long to prepare for the winter, it is about 79%. the cold weather is going to drive heating demand and currently deplete supplies. the high prices are signaling to world gas producers to send all their excess supplies to europe, so they will be bringing in lng tankers, hopefully more pipeline gas, as well. in the near term and possibly the next year, europe is going to face a really tight market. manus: interesting, we have seen jacob send

manus? manus: thank you very much, juliette saly in sydney.oming up, we discuss what's moving markets, risk to traders, how you want to position yourself to a faster taper. on bloomberg. ♪ manus: daybreak europe. let's get straight to the ship that shift in sentiment. the shift to cash. is that a contrarian indicator? it's one of the biggest things we are seeing month over month. it's a shift of 14% up into cash that i want to bring to hannah gooch peters. she's an equity analyst. she should be able to tell me if she's getting more defensive for christmas. how are you? hannah: good morning. i'm very well. i think the shift into health care is typical actually. it is slightly more protected, given its more predictable cash flow streams against the likes of lysing -- rising interest rates. people are thinking about investor's right now. the move to cash isn't why we are with valuations right now. if you look at valuations in the u.s. in particular, looking at a 60% premium. potentially in the technology index which has shown to be very vulnerabl

manus: good morning from our middle east headquarters in dubai, name manus cranny -- i am manus cranny alongside dani burger in london. a bloomberg's group says the u.s. and allies are considering sanctions on russian banks if moscow invades ukraine. the pboc shifts toward easing, with the downturn hitting growth. evergrande on the brink of default. plus, omicron fears subside, global stocks rise and the s&p 500 erases last week's drop. treasury yields at higher. how long will the risk on narrative indoor -- endure? i remember we used to wait until the letter arrived, it was so important in setting the tone. he is ready to shave risk and this is what he said, a bear market is required at this point. i think over the course of the next year, and he or she that loses the least, maybe they are the winners. there is the tone from dennis gartman. dani: good morning. he also says avoid the tech. maybe it is an easy call to make because it's already in a bear market. the goldman-s. -- the goldman sachs indexes already: 20% from the peak. manus: against this morning said the aware galactic tec

manus: good morning from our middle east headquarters in dubai, i am manus cranny. this is "daybreak: europe." all eyes on the taper, investors fret central banks may ruin the party for stocks. tech leads selloff, asia follows suit. drugmakers defy the drop. omicron continues to spread. more banks saying to work from home. and boris johnson doesn't promise no more further curbs. plus, european gas prices hit a new record and there are tensions with russia. saudi arabia warns of oil output dropped 30%. -- 30% this decade. it has just gone 6:00 a.m. in london, and we have fervent said fever fomenting everywhere. this could be the biggest move in the dot plot you have ever seen. lots of people tell me the dot plot doesn't matter but we are definitely gearing up for a demonstrative shift in guidance from the federal reserve. the fever is palpable in the equity market into the close last night. we have spoke to 106 asset managers and this is what we are perhaps most concerned about, is there still value in tech? let me take you to the bloomberg survey. taper, take away m

manus: indeed. i think there's also differentiation very much between the equity risk you see in pricing in asia. and perhaps the bounce back in the u.s. equity story this morning. dani: in the u.s. equity story, we are seeing some popular perhaps retail names, they continue to selloff. you've been talking about bitcoin all morning as well. manus: slaughtered over the weekend, down 20%. there is the correlation with the u.s. equity market. if you have a less benevolent fed, what is the risk and how many rate hikes next year? those are the debate. what can the equity risks survive in a rate hike environment? dani: certainly, it has been said we are headed toward a bear market next year. we went through some of the market data. we are seeing some treasury selling coming through after, as always saying yesterday, this massive bid into treasuries, trying to adjust to the fed in the new variant. s&p 500 futures, up half a percent. brent crude, i know we will talk about this throughout the show, saudi ara

am manus cranny.e still with janet mui from brewin dolphin. cpi in china is still very strong and deeply embedded. much more sticky -- how much more sticky and enduring is chinese inflation relative to american, british and european, is it more stoic? janet: i think that the chinese inflation will be repeating because a number of commodity prices -- it is a global phenomenon. we are expecting that to continue moderating. china has been going with a strict covid strategy. the economy, the operational side, supply issues, those issues may linger a bit longer. china has not really opened up yet. i think there are some concerns. judging from commodity prices on the investment side and we have to slow down the economy. i do believe we have passed the peak on china inflation. dani: how do you position in china? we have had people come on the show and say that as a whole the investment community is under in china, do you think that is true? should people up their exposure to the region? janet: i think there

manus: there is still a huge secular tech story.he chart together, the nasdaq had this monster flow in, the buyer of the dip. i know you track the risk appetite at goldman. dani: but you want to put them against bank of america. bank of america saying all the clients work buying tech as well. are these just argan hunters or is this catching a falling knife at this point? -- manus: that's the canary in the market mine for him. we have another ipo here in the region. bloomberg markets europe is up next. this is bloomberg. ♪ so, i started listening to audible about two years ago. a friend of mine recommended a book to me, and i got hooked really fast. and then it kind of just became a lifestyle after that. i've found new authors. i've found new interests. i've found all of these wonderful things. audible has all the entertainment you love. text listen4 to 500500 to get thirty days free. i like thrillers, true crime podcasts, news podcasts... science fiction, space dramas... a lot of classics. i listen almost exclusively to the audible

>> in normal days, manu, i wouldn't believe that.now, maybe in the era of pre-trump that would have never happened a losing presidential -- well, not just a candidate, but a person who did not win re-election as president is pretty much persona non grata for the party. no one wants to talk about that person again. we saw that, say, with jimmy carter and democrats. the fact, though, is that the republican party feels incredibly emboldened in part because of just how tenuous the democrats' hold on both the house and the senate and the white house. that was a 40,000 vote margin in the electoral college that gave biden the presidency. so instead of looking at those narrow losses as a way to sort of reflect on, boy, how could we have won? instead it's, boy, we're so close to winning. however, i will say this, thus far, if you look at the candidates not named trump who have been successful since 2020 or maybe in the 2020 election and now in the 2021 elections, they have all been candidates who don't act or sound a lot like donald trump. at

our manu raju is on the hill. manu, can you describe -- in fact, i believe we'll see them entering in just a moment. yes, there is president biden, dr. jill biden. we await the arrival of the casket containing the late senator, bob dole. manu raju, you're there. the order of the day going forward? >> reporter: yeah. we expect to hear from congressional leaders who will kick off this event and talk about their experiences. nancy pelosi, chuck schumer, mitch mcconnell, followed by the president, talking about their time overlapping with the late senator bob dole, talking about the different time it was. bob dole is coming back to a place that is a much different institution than he left in 1996. the relations in the house in particular between the two parties is at an all-time low. he was a person when he left in 1996, when he gave his speech on the senate floor, on the day he announced his resignation, his farewell speech, it was filled by republicans and democrats. it was filled with humor and talking about his re

manu, if i could bend your ear for a second because tonight the house sleelect committee is meeting and meadows be held in ckcontet of congress. and you have this new report that put as spotlight on meadows. what is in this email about the national guard? >> yeah, he was suggesting that perhaps the national guard could be dispatched on january 6 to protect pro trump people. the question is what did he mean by that. this came in the aftermath of meadows cooperating with the committee. remember, he had turned over thousands of pages of documents to this committee but then he stopped cooperating amid pushback from donald trump, amid the release of his own book and said that he would not come before the january 6 committee and testify about anything that happened. instead this is why they are moving forward with this contempt citation. the question for the democrats, even though they will almost certainly have the votes tonight to advance this contempt referral to the full house and likely in a democratic-led house they will have enough votes to get it sent to the justice department. the qu

i'm manu raju, in for abby phillip. tornadoes destroyed buildings, claiming lives across six states. one twister could be responsible for damage around a 250-mile stej from arkansas to kentucky. officials fear 80 people may have lost their lives. >> windows breaking, dogs flying through the air. i didn't know what to do. it's devastating to see stuff i grew up with, it's just gone. >> helped a little lady out from rubble. this is my first thoughts, with everybody else. >> it doesn't happen in your town until it happens in your town. >> i'm looking for my wife. >> president biden has spoken with the governors of the states affected by the tornadoes and directed federal resources to the locations where there's the greatest need. an emergency declaration has been approved for the commonwealth of kentucky and president biden and the kentucky governor pledged to work together to help those in need. >> the federal government is not going to walk away. this is one of those times when we are not democrats or republicans. sounds

cnn's manu raju has the latest.telling you about this call and what they plan to do? >> reporter: well, there's no consensus on how to proceed right now in large part because senator manchin simply is not there with where the democrats are. there was a discussion last night, an air clearing session of sorts. joe manchin made clear that his arguments, he's been consistent for months. some democrats don't believe he has. he believe he has been whether it's about inflation, debt, his concern about temporary programs in this proposal, concerns that this will hide the true cost of the bill. he made that very clear to his colleagues that this proposal, if it were to become law, would not accurately reflect the amount of debt that could be incurred on the american public. he got pushback from democrats saying that what manchin is saying does not reflect the true nature of things. also chuck schumer made reference to mark zandi and the concerns about the impact of not passing this bill could have on the economy as well. non

discuss, cnn's senior legal affairs correspondent paula reid and chief congressional correspondent manu raju who is on capitol hill this morning. as we wait to see what the doj decides to do and how long it will take to learn of that decision, there are these texts from lawmakers to meadows, and specifically one from november 4th that's really stood out in terms of what it laid out in the hours after the election. >> absolutely. let's take a step back here for the full context. before he stopped suddenly cooperating, meadows handed over 9,000 pages of records to the committee. now it's been interesting over the past three days to watch the house select committee take a more aggressive stance, really sharing a lot more about what they learned specifically from meadows. before the vote last night, the committee revealed more messages, including this one you just referenced from november 4th. now the day after the election, a member suggested to meadows, an aggressive strategy for republican-led state legislatures to just send their own electors to congress. let the supreme court decide wh

manu, what have you learned so far? >> yeah, joe manchin defended his position.t this is a position that he's been consistent with for the past five months. he said that inflation is a real concern. he said that debt is a real concern. he said he did support increasing taxes on the wealthy. he's concerned with the way it's structured in the bill, however, because of the opposition from a different moderate senator, kyrsten sinema, about raising tax rates on corporations, individuals. but nevertheless, manchin made clear he is still opposed and concerned about the way this proposal is structured. i'm told from a source, he said -- he talked about the debt. he said he didn't get push back, but he said this. he said, inflation is a serious issue. these programs will cost more than they are saying. i can't add to the debt. so, he got some pushback, some concerns raised about his characterization of the plan. democrats say this bill will be completely paid for. manchin however has raised concerns about the temporary nature of some of these measures, saying that if you

manu raju with the latest from the hill. >>> let's dig deeper.s, staff writer for the new yorker and author of "wildland." also with us, our chief political analyst gloria borger. gloria, president biden says and you just heard him once again, senator manchin and i are going to get something done. but what does that look like after manchin effectively torpedoed months of work? >> hard to say what it's going to look like, but the truth is that joe biden doesn't hold grudges. and he is going to try and work with manchin. if you go back and look at what's happened over the last few days, manchin did put a package in front of joe biden that was $1.8 trillion. what it did not include was the child care tax credit, which is, of course, so important to so many democrats. but he did include universal pre-k, expansion of obamacare, lots of money for climate change provisions. so there is a way where they can get together. but as manu was saying, is it going to be a big package which progressives wanted? absolutely not. so would they vote for it? we don't

manu raju is out front live from capitol hill. schism within that party. what are you hearing? >> a number of republicans are frankly concerned that the tension that is caused by a lot of these conservative members of the house republican conference could undermine their efforts to take back the house next year. the feuding, the interparty feuding amounting to a major distraction as they are trying to focus on the biden agenda, and take advantage of the real advantages that they hold to take back the majority come the 2022 midterms. now, after boebert's comments about omar, she was condemned by nancy mace, who is a conservative freshman republican. comes from a swing district in south carolina. after criticized boebert, today marjorie taylor greene, the conservative from -- far-right conservative from georgia came out and called mace, quote, trash. that led to a series of back and forth all day on twitter and just this evening, behind closed doors, kevin mccarthy summoned each of them for private meetings. discussing with them and

manu, let me come to you. jen was asked about the white house's message to progressives on the hill. how is this no from manchin and how things have kind of happened over the last 24 hours, how is that resonating on the hill? >> well, members are extremely frustrated because they have spent months negotiating a bill that they thought had a chance of passage in the house. they passed a number of democrats, including ones that are in difficult districts, swing districts that become republican in the midterms, ultimately voted yes, and the anticipation that this bill would eventually become law, and they could campaign on issues related to housing, to health care, to climate change and expanding of medicare as well as providing more money into the affordable care act. all of which they thought would be beneficial politically back home. joe manchin, saying that he would be no, that essentially sinks the entire effort, unless they can figure out another way forward. she did not walk back the scathing criticism that

manu raju is out front for us tonight. manu, what's going to happen on this call?o be a lot of air clearing. we do kpap senate majority leader chuck schumer to detail what his plan is to try to bring this bill forward for a vote, even though it is destined to fail, assuming joe manchin doesn't change his position and manchin's making very clear he is not going to change his position and it's also unclear whether manchin himself will participate on this call. i am told he still has not confirmed his participation on this 8:00 virtual call. this comes as democrats are vam scrambling to figure out what the way forward is exactly. something in which they believe they can get consensus from the various wings of the party. but there is also pushback from some progressives who say they don't trust joe manchin to get behind such a narrow approach and manchin, himself, has suggested that instead of going through with a democratic-only approach on a smaller bill, if they were to go that route, they should go through the regular committee process and that process, kate, as yo

manu raju live on capitol hill with all the breaking details.what did she have to say? >> she expects the vote to happen today on this short-term funding bill to keep the government open until mid-february, but that is virtually assured it will pass the house. the democrats have a majority in the house. the rules allow them to pass it pretty quickly. in the senate, it is an open question about whether they can actually pass this before the deadline, 11:59 p.m. tomorrow night is when they have to pass the bill in order to avoid a brief government shutdown that could potentially last into early next week if they do not get some sort of resolution. the reason why there's a question about why there might not ultimately be a quick vote is because of a separate debate over defunding vaccine mandates. so something that two republican senators in particular have been demanding to be added as part of this bill, those two senators roger marshall and mike lee. marshall said this morning he would object to any effort to have a quick vote to keep the governm

>> manu, thank you so much. really appreciate it. >>> coming up for us still, weekly jobless claims hit their lowest point in decades. what it can tell you about america's economic recovery. next. firefighter maggie gronewald knows how to handle dry weather... ...and dry, cracked skin. new gold bond advanced healing ointment. restore healthy skin, with no sticky feeling. gold bond. champion your skin. (vo) singing, or speaking. reason, or fun. daring, or thoughtful. sensitive, or strong. progress isn't either or progress is everything. you're a one-man stitchwork master. but your staffing plan needs to go up a size. you need to hire. i need indeed. indeed you do. indeed instant match instantly delivers quality candidates matching your job description. visit indeed.com/hire what's strong with me? i know when i'm ready for a rest day. so i can be ready for anything... tomorrow. find out what's strong with you with fitbit sense and daily readiness. i've spent centuries evolving with the world. that's the nature of

not much time remaining, guys. >> manu raju, thanks so much.." so there's another possibility here, right, that schumer doesn't clearly have the votes in the senate prior to christmas, but he puts it on the floor anyway and basically sinema and manchin stand in the way. >> you're hearing the irritation with his fellow democrats. dick durbin told reporters last week that he's telling joe manchin, look, joe, you have to make a decision soon. you're sensing that sort of irritation, aggravation, and chuck schumer again this morning has promised that christmas deadline. as manu pointed out, several hurdles that the democrats have to go through before they can put this on the floor. the tough part for this build back better bill is that there's no forcing mechanism. there's no government shutdown. there's no debt default. you don't have to get it done by a deadline. it's sheer political will. the desire to get it done by the end of the calendar year, obstacles remain. >> and we've seen deadlines pass before. >> right. >> debt lim-- he was leaving con

those reporters may just keep asking questions, won't they manu. thank you. >>> still to come, the house select committee investigating the january 6th riot, they have no choice but to advance criminal contempt proceedings against him given that meadows has decided to no longer cooperate with the committee. we'll take a closer look at the vat gee here. >>> plus russian president vladimir putin sharing some details about his call with president biden. what he says his concerns are regarding ukraine. in his first television interview, president biden's new drug czar talks to cnn's sanjay gupta on his plans to tackle the ongoing opioid crisis plaguing this country. ...and dry, cracked skin. new gold bond advanced healing ointment. restore healthy skin, with no sticky feeling. gold bond. champion your skin. new projects means new project managers. you need to hire. i need indeed. indeed you do. when you sponsor a job, you immediately get your shortlist of quality candidates, whose resumes on indeed match your job criteria. visit indeed.com/hire and get

cnn's manu raju is live on capitol hill, so manu, what are you hearing what's happening up there?esident that he needs significant restructure of the bill. he indicated to me that 1$1.7 trillion is the most he would be willing to spend in this massive bill, and he simply does not believe that the bill that passed the house last month would fall under that price tag. one of the things that he has conveyed to the president, he reiterated in our conversations as well, is concerns over the scope of the child tax credit. that is an expansion of which would expire at the end of this year. he is concerned about including that for just one year. he thinks that it should be considered for about ten years' time, but if they were to do it for ten years, that would essentially blow up the entire price of this bill and it would go much higher than joe manchin wants and would force other programs to be pulled out, essentially meaning they would have to rewrite a bill that's been negotiated in a mainstaking manner for months and months and months. as democrats had hoped to get this bill passed b

cnn's manu raju is live on capitol hill. so what's the latest, manu?amiliar with the matter. now manchin, of course, is hugely significant here because 50 democrats are in this caucus in the senate. they all need to vote yes to proceed to this bill and get this bill passed and manchin is the biggest holdout yet in large part because of his concerns over the cost of this bill. he wants to keep it at $1.75 trillion. he is concerned about some of the temporary provisions that are in this bill, including a one-year extension of an expansion of the child tax credit, which could help millions of families, assuming they can extend it past the end of the year deadline. otherwise that expansion will go away by thend of this year. but manchin is concerned about a one-year extension. he says that that hides the true cost of the bill arguing that instead a realistic picture is that it should be extended over a ten-year time frame but to extend it over a ten-year time frame would add hundreds of billions of dollars, potentially over a trillion dollars more to the p

manu raju is on capitol hill. manu, what are we learning about the dynamics at play? joe manchin and the president are not going well. the president is trying to get manchin on board but i'm told they are very far apart. manchin has been concerned about this for some time. in particular he's concerned about the price of the child tax credit, expanding that to a number of families as democrats are trying to do a central component of that bill. if it does not expand by the end of this year, that expansion will actually expire for a number of families. there is a big push for democrats to get this done, but manchin is concerned about the cost and thinks it should be zeroed out. manchin says he's not opposed to including the child tax credit but he seems concerned about including it in this bill if it were to blow up the cost of the bill. the question is, can they still get an agreement? can they get it done by christmas? it's increasingly likely they may have to punt this bill into the new year despite months of t tortuous and painstaking negotiations concerning child ca

manu raju, cnn, capitol hill. >>> thank you, manu. u.s.arkets rebounded tuesday after getting walloped, you remember, the beginning of the week. the dow gaining 165 points, and the nasdaq up 2% higher. all three benchmarks snapping a three-day losing streak. let me show you the picture for u.s. futures along with european markets and asian markets. dow jones expected, the nasdaq, s&p 500 expected to stop trading day lower this wednesday. mixed picture really in europe. the ftse 100 really the only one in europe seeing red this morning. and in asia, also another mixed picture. of course, concerns over omicron and demand playing into all this. i think our shanghai composite is not working well, but we'll keep you updated on those numbers. >>> now, the top u.s. diplomat for europe says further diplomatic talks with russia unlikely to take place next month. this comes amid soaring tensions over russia's military buildup near ukraine's border. now russian president vladimir putin is demanding security guarantees from the u.s. as well as nato, i

let's go to cnn's manu raju on capitol hill.ing some members of congress are actually breaking the rules that were put in place to prevent such insider trading. >> a 2012 stock act actually aimed at stopping members of congress from learning about things privately and making those decisions to help them financially. but this investigation by business insider found 49 members of congress and 182 senior level congressional staffers have violated that law. that came amid questions about what is being done with the fact these laws have been actually violated but the investigation showed what is well known on capitol hill. the house ethics committee, senate ethics committee, have not done a lot to crack down on these violations, inconsistent standards going forward and trying to deal with some of the violations so the question was posed to pelosi yesterday at her press conference why not pan members of congress and spouses from trading stock all together. she pushed back. >> if people aren't reporting they should be. because this is

correspondent manu raju in from capitol hill.d to get senator manchin to try to explain what the issue. >> yes. he has some major concerns here, john. he doesn't want this bill just to allow for temporary programs to be extended. he wants the bill to actually include what could be the full breadth of the spending package. he doesn't believe that the provisions in here that could be three or five years long will only last three or five years long because he argues that americans once they get these benefits they will want them for more years and that congress will come back and extend it, so suggesting that the proposal could cost $2 drill john what the house plan costs is just simply not enough for him, john, so he wants to actually change it significantly parts of this bill to see its true cost. >> here's the question. does he want to deal? this has been on the table now for month, months, the big picture and then the house passed the plan. it's been back and forth. if he wanted a deal he could hand the president or chuck schume

we'll see, manu. start to panic. >> you say you've built up a tolerance to this? >> it's like the boy who cries wolf. it happens time and time again, and -- >>> president biden unveils a winter plan for covid, up next. it's our cyber week special on the sleep number 360 smart bed. it senses your movements and automatically adjusts to relieve pressure points. and its temperature balancing, so you both sleep just right. save up to $1,000 on select sleep number 360 smart beds and adjustable bases. plus, 0% interest for 36 months. ends monday music: ♪ “i got you babe” by etta james ♪ get groceries, gifts, & more fast and easy so last minute guests are the only thing you'll be waiting on ♪ ♪ joy. fully. look, serena williams... matrix... serena... matrix... serena... matrix... ♪ get your tv together with the best of live and on demand. introducing directv stream. use a single hr software? nope. we use 11. eleven. why do an expense report from your phone when you can do it from a machine that jams? i just e

manu raju is out front live from capitol hill. and, manu, you just spoke with senator joe manchin.very clear that he is still at odds with the white house over the size and the scope and in so many of the details. and the changes that he is suggesting would require wholesale changes to this bill that has been negotiated and negotiated for months and months and months. but still, would require much more to get his support. one of the big things here is that he is making clear to me and he also made this clear to the president that the overall price tag for him needs to be $1.75 trillion over a decade. now, that is, of course, a lot of money that would include a lot of things but what he is concerned about, in particular, is temporary spending. programs that would last for a year, three years, or five years in the bill. he says they should be extended up to ten years to show the public the true cost of the bill, and extend it up to ten years, if it exceeds that $1.75 trillion top-line number, then maybe some of these other programs need to be sacrificed. now, central to all this is t

manu raju is frount. out front. manu, you just spoke with manchin on his way out of the capitol. what he said to me is that i asked him if biden is moving any closer to his position. he said, quote, i wouldn't say that. and then, when i asked him what he meant with that -- by that, he indicated he is still detailing his positions. >> in general, there is still talk. >> what do you mean you wouldn't say that when the president's not moving closer towards you? >> no, no, i don't think i'm asking anybody to move. i'm wanting people to understand where -- where i am. and i think that's where we are getting more of an understanding. >> now, sources tell us that there are significant differences still between the president and the most important swing vote on the democratic side of the aisle in the senate, including over the size, the scope, the true cost of this bill. joe manchin has concerns that the bill, which would extend the number of benefits around -- around a wide range of programs, ranging from climate change to education to housing, a number of those programs are not adequat

manu raju, cnn, capitol hill. >>> i want to bring in the president of the global policy institute atmount and joins me now from los angeles. great to have you with us. >> thank you. >> so overall, how do you think joe biden's address to the nation on the covid pandemic and the omicron threat went? did he hit all the points needed or did he fall short, do you think? >> well, he had to walk a tight rope between optimism and pessimism. so he had to give two really different speeches to two different audiences. on the one hand, one speech was to the vaccinated where he said it's a cautionary tale. it was a warning, but also a kind of reassurance that we'll be okay, we'll get out of it. then he was speaking to the unvaccinated, which was the horror part of his speech. a dark wenter is upon us, things are going to go from bad to worse. it's been the unvaccinated that cause sod many of the problems. as i tell my students all the time, you can't fix stupid. if people can't going to help them themselves, there's very little you can do. >> right. so joe biden said the lack of testing available

let's bring in our chief congressional correspondent manu raju on capitol hill.ants a number of changes in this bill, and that really has not been any different than where he's been for the past several months, because he has a number of philosophical concerns with this plan, roughly $2 trillion to put money into a whole bunch of issues whether it's health care, education, housing, child care and the like. he is concerned about how a number of the programs are temporary. he believes that it does not provide the true cost of the bill. he raised concerns about inflationary pressures, exacerbating inflation, rejecting the white house argument that it does the come s -- opposite. and that is essential here. we are in a 50/50 senate. one democratic senator who votes now is enough to stall or completely derail this entire effort. the talks between the president and joe manchin are continuing, but in addition to that, there are issues with the procedural aspects of this bill. in order to move it through the senate, through a process that allows them to pass along straig

but that's his contention. >> manu raju on the hill. president biden is calling for accountability for the january 6th insurrection. in a new interview with abc news, he also answered a question about whether he would be up for a rematch with donald trump in 2024. have a listen to his answer. >> but, look, i'm a great representer of fate. fate has intervened in my life many, many times. if i'm in the health i'm in now, if i'm in good health, and, in fact, i would run again. >> if that means a rematch against donald trump? >> don't try to tempt me now. sure. why would i not run against donald trump? that would increase the prospect of running. >> joining me now to discuss cnn political analyst saddiqui and the managing editor of axios. margaret, let me ask you this. there's so much talk about challengers both to biden within the democratic party, what does kamala harris do, et cetera, and on the republican side as well. the fact is biden is president. trump is still the overwhelming choice of most republicans. is a biden/trump rematch fr

cnn's manu raju joins us now from capitol hill. first, what's the plan?omplicated, and it all underscores the lengths to which republicans in particular will go to raise the debt ceiling, avoid a default, without actually having to cast the vote to raise the debt ceiling because under the rules of the senate, there needs to be 60 votes to avoid any filibuster, but there are only 50 republican senators and 50 democratic senators, so what ten republican senators would move forward to raise the debt ceiling? that doesn't exist at the moment so they created this complicated one-time process that would require new legislation, a new law to create a fast track process that would allow the debt ceiling to be increased on just a simple majority in the senate. in other words, just 51 votes in the senate, 50 votes with kamala harris, the vice president, breaking the tie, would be enough to raise the debt ceiling, but first they need to actually pass this legislation to create this new process into law. now, nancy pelosi just announced to her members that this bill

. >> manu raju joins me from capitol hill. you've seen different approaches to be frank. sanders and jayapal are progressives, full frontal assault. dean phillips said we can't attack this guy, we do it at our own peril. what is the party leadership doing here and do we expect it to have impact on manchin? >> reporter: at the moment, it seems like manchin can't be swayed. even a scaled-back bill would be difficult to accomplish before the new year far variety of reasons, one of which is manchin himself. he's indicated publicly and privately any scaled-back plan should go through the committee process, take time, weeks, months, get republican support, and we know that's not going to happen. and any effort to try to put a bill directly on the floor will get manchin's opposition. that's exactly what the democratic leaders plan to do, shum shoom indicating to colleagues yesterday he plans to push forward on the first procedural vote to open detate on the plan. manchin says he is a no, and one democratic defection is enough to thwart the entire effort. it's going to take some

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manu, trust over there among democrats is in short supply once again it seems.t are you hearing about how they move forward and if they can with this bill? >> yeah. trust deficit between the moderates and progressives, between the progressives and joe manchin as well as between manchin and the white house. manchin was furious at the white house from last thursday a statement that came out from the white house that essentially blamed manchin in part for not being able to get a pre-christmas deal. manchin believed he had an agreement of sorts that they would continue to talk into the new year and he didn't think he'd be explicit by li called out by the president and he went out and criticized white house staff, one of the reasons why he's in a mood that this is over. he doesn't believe good faith talks can occur going forward and progressives, meanwhile, say they cannot trust joe manchin. yesterday manchin spoke with pramila jayapal and she told manchin she couldn't trust his word and they need to find other ways to move forward. >> the only thing we have to trust

. >> cnn's manu raju joins us live. there's no nice way to say this. kavanaugh sounded very different on the subject of precedent today than he did when he was trying to get susan collins to vote for him. how did she respond to today's oral arguments? >> she said she didn't see it. she told our colleague, i did not see his questioning or hear any of the arguments. i hope to later tonight play them so that i have firsthand knowledge of what the arguments were today. but i can't comment on what i didn't see. now, recall how critical susan collins was to the confirmation of brett kavanaugh. three republican senators were in play. one of them was jeff flake of arizona. he was one of the first of those three to say that he would vote yet. he voted for that. lisa murkowski, she voted against brett kavanaugh. and all eyes at the time were on susan collins. collins was listening to the tomorrow of christine blasey ford. kavanaugh denied that. she had meetings with kavanaugh and talked about abortion because collins supports abortion rights and those comments s

cnn's manu raju reports. >> reporter: good morning, christine and laura.ow, democrats had a conference call last night to figure out if there is a way forward. and at the moment there just is not the consensus to move forward yet. yes, talks will probably continue. yes, there will be discussions about whether they can do a scaled-back plan. but what exactly that looks like remains to be seen. i am told joe manchin reiterated his concerns over this proposal saying that he has been consistent over the past five years, saying this bill would add to the debt. also raising concerns about the temporary nature of these programs he does not believe will be temporary. in fact, he believes that they are not showing the true cost of the proposal. one of those issues is the child tax credit. of course, that has been a central plank of the democratic proposals for this past year. an expansion of which would expire the end of this year if they don't get a deal here. but joe manchin is not in favor of that because he believes that any expansion of the child tax credit do

let's bring in manu raju on capitol hill.that pelosi promised she heard that she would take action this week on bobert, but pelosi now seems reluctant to even talk about this. >> she has snapped at reporters multiple times today who have asked her directly about whether or not they will take action to punish lauren boebert. and this because the progressives in the house are pushing for that punishment. pushing that lauren boebert should be stripped from her committee assignments in the aftermath of those comments and arguing that she should suffer the same fate as two other republicans who came under fire from democrats and who lost their committee spots, paul gosart and marjorie taylor greene and that has essentially set a precedent when the majority party can go after minority party members, kick them out of their committee assignments if they've done something that members find offensive. in this case, progressives say there's no reason why boebert should be removed. pelosi in the leadership team clearly views this fight a

our chief congressional correspondent manu raju joins us now. this is your reporting.ed. >> reporter: it's playing out on the senate floor, the senate is going to vote on a fast track process to allow the debt ceiling to be increased on a simple majority threshold, a long way of saying there's a deal to default on the national borrowing limit, and who may cut that deal. mitch mcconnell worked behind the scenes with chuck schumer the democratic leader, and he tried to bring mccarthy in the fold as you noted there. mccarthy did not want to go in the initial plan, mcconnell and schumer worked on a separate plan to move this forward. mcconnell is in a different position, politically and also institutionally, in the senate you need to have 60 votes to get anything through and avoid a default by as early as next week. 50 democrats, 10 republicans need to hold hands. the republicans in the minority, the democrats don't need their votes, most pieces of legislation, and kevin mccarthy has rallied republicans to oppose virtually anything. and that is one reason we have seen a sp

. >>> manu raju is live from capitol hill. the vice president, as well as former president bill clinton, three former vice presidents -- quayle, cheney, the pences as well. who else at today's invitation-only funeral? >> reporter: spanning multiple administrations, both parties speaking about someone who is a true political giant, could reach across the aisle, and had deep relationships among democrats and republicans, something that is unusual in today's very polarized political times. but it is a star-studded list of officials who are coming to attend this private service at the washington cathedral. the bidens, kamala harris and multiple people from the biden administration, the pences will be there in addition to dan quayle, the former vice president, dick cheney, the former vice president under the bush administration of course. then we expect to hear comments from members of both sides of the aisle. we'll hear president joe biden will speak to this audience, as well as former senators pat robertss and tom daschle, who wa

manu raju is outfront. this is a major blow for biden and other democrats who want this tonight.hat deal to get the infrastructure bill with the sort of feeling they had a deal to get this done and yet they don't seem to be at all on the same page in their own party. do they have faith that manchin will suddenly turn around and support this? >> it's really unclear at this point. there is disagreement over the structure of this bill. joe manchin has concerns over some of the temporary spending measures in this plan saying it should be extended out to ten years in order to give americans a true sense of the cost of this proposal. one of those provisions, the child tax credit. under this plan it would be extended for one year. the expansion of this would expire at the end of this year if they don't act, which adds a sense of urgency, but manchin does not want to go along with a one-year extension saying it would not reflect what americans wolf here. so i just had the chance to catch up with joe manchin and asked about the pressure he is getting from democrats to change his position

hookerjamie george and centre manu tuilagi are also hoping to be fit for england's opening game againsty. and deontay wilder's coach malik scott says oleksandr usyk could beat a "vulnerable" tyson fury. if the heavyweights eventually fight. usyk is set for a rematch with anthonyjoshua — but, if he wins, could agree a unification contest with wbc champion fury later in the year. england's cricketers will be without head coach chris silverwood for the fourth ashes test in sydney. he's in isolation after one of his family tested positive for covid. it's the seventh positive test in the touring party — three support staff and four family members have all contracted the virus. the match is due to start next wednesday. england are 3—0 down in the series, and have already lost the ashes... clearly it is very disruptive for the parents who as yet none of them have tested positive but they are being tested daily and we should not forget that the coach was in contact with some of them yesterday during their practice so it will be an anxious wait for the next few days to see if any of the england

utilize the ballistic, the lid, the delivery of the piano, the all dog must on whom shall robert best, manu load the switch. when he announced her jani, my barbara has not a few directly colon jani, my bishop, and i'm sent when i send him another that's go, wow, that's what he on what i even when he had gotten one on again, it could be a big luggage here that it only begged him that will come with them for lunch l'oreal dea. i'm not going to come here to help you. all women in the air worlds do not enjoy equal rights. but in the gaza refugee camp, it's that much worse. it is one of the most oppressive communities for women. enjoy them. if he is going to be to nurse or not, and tom will not other luck, mom nor etched of an air duct, it could've called that north law. no suffer had help. and what it's law, he got a few american mom. no, he got a luggage and a hiding home open at the corner shop that i love. excellent. had you hope m. i'm not my mom and mama, i sent bradford her leg toys to upload, but also i sobbed at 1st study am, et cetera. in mara, eh, how can they mom by when they 1st sta

major in newspapers or, or, or made or other media out that's or even trusted into which was in it's manu that more rural country. but facebook has short circuited it. that it, it, they take my, ran at he and, and freedom of distribution for granted the states. but this is extremely new, and a typical and the road is still grappling with its effects and, and, and the consequences of it are numerous by the, among the rocking up people in me, amor by them, by the amman, by the amounts those killed by ethnic violence in serene anchor blue among the alcove miniatures, lynched to that space. what by ro, roommates, and in india be taken for granted. but to me this is not a question of content moderation. this is the content of content distribution. the ruin has the right to freedom of speech, but no one has the right to be to be heard to, to be distributed, alter the right, does not have a responsibility to broadcast every single person to the entire world. and, but facebook had struck to so could at this and made it extremely easy. okay, let me just bring and jason, jason, i want to show you s