CNN Student News Transcript: May 1, 2008

(CNN Student News) -- May 1, 2008

Quick Guide

Issue #1 - Economy - Get the lowdown on some key terms and headlines from the economic world.

Prince William in Afghanistan - Hear why a member of Britain's royal family secretly visited a war zone.

Where Buffalo Roam... - Learn about the shrinking bison population in Yellowstone National Park.

Transcript

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

CARL AZUZ, CNN STUDENT NEWS ANCHOR: Hi, everyone. I'm Carl Azuz and this is CNN Student News. Thanks for joining us as we get ready to kick off our first show of the month.

First Up: Issue #1 - Economy

AZUZ: First up, the economy. It's been issue number one for many people in this year's presidential election, and some economic news on Wednesday shows the federal government is taking action. Let's dive into some definitions and details related to the U.S. economy, starting with gross domestic product, or GDP. This refers to the total value of goods and services that a country produces in a given time. Now, this number can be used to gauge how the country's economy is doing, and according to a U.S. government report, GDP is up about 0.6% so far this year. Not a big increase, but not necessarily bad news either.

Still, if you've been watching the news recently, you've probably heard about some economic struggles and maybe even experienced some yourself: fewer jobs, higher food and gas prices, people losing their homes. That's part of the reason why the Federal Reserve, the country's central bank, cut a key interest rate yesterday. It's called the federal funds rate, and it affects things like home loans, credit card rates and other consumer loans. The goal of the move is to give a boost to the economy. It makes money cheaper to borrow, consumers are able to spend more, and businesses can expand and hire more employees. So, that's what could happen soon. But a lot of people are talking about what's going on right now, and they're bringing up the word "recession." Does it apply? Turns out that question's not so easy to answer.

Fast Facts

GEORGE RAMSAY, CNN STUDENT NEWS: Time for some Fast Facts! A recession can be defined as a period of significant decline in economic activity. Experts aren't able to determine when a recession starts until at least six months after it begins, and maybe not even until after it's over! Many people are questioning whether the U.S. is currently in a recession. President Bush hasn't declared that, partly because it's not his decision. The word "recession" is primarily a technical term, and only one group, the National Bureau of Economic Research, can officially define it. The organization uses a large and diverse collection of data to pinpoint when a recession begins and ends.

AZUZ: What is the point of all this? Well, you may hear your parents complain about the high cost of food or finding it difficult to pay the bills. They might even cut your allowance. Will it last forever? Probably not. So, how does this slowdown in the economy affect you, your community or your school? Or does it? Tell us what you think at our blog at CNNStudentNews.com.

Blog Report

AZUZ: Speaking of our blog, we got a lot of comments yesterday regarding Reverend Wright, the controversial former pastor of Senator Barack Obama. We asked how the reverend controversy could affect the candidate's campaign and whether or not you thought it should. Kabrina wrote in, "I think it will affect Obama's campaign, because most people think of who you are by the church you go to." Zack said, "I think it will affect the campaign. Not everything is about race when it comes to deciding on things like presidential campaigns. It's about what the people think." An anonymous teacher said, "It does not change my opinion about Obama at all. I do not hold people responsible for other people's actions unless they contributed to those actions." Several folks said that. And Stevie wrote, "I think that Americans should just look at the candidate-sponsored Web sites to get their information; that way, there is no confusion or problems." There are dozens more comments at our blog, From A to Z. Log on and share yours with us today!

Prince William in Afghanistan

AZUZ: Looking overseas, Prince William is back in Britain after a surprise trip to Afghanistan. He didn't make the visit as a member of the royal family; he made it as a member of the Royal Air Force! William's military service is helping prepare him for when he might become king, and it carries on a tradition going back to his great-great grandfather. Alphonso Van Marsh fills us in on the details of his royal highness' recent mission.

(BEGIN VIDEO CLIP)

ALPHONSO VAN MARSH, CNN REPORTER: The second-in-line to the throne can now tick the box; he has touched down in a war zone. British officials confirmed that Prince William, who's trained as a Royal Air Force pilot, went on a secret mission to Afghanistan over the weekend. The military released these images on Wednesday.

According to a royal spokesman, Prince William flew a plane for part of the assignment that started at Royal Air Force Base Brize Norton. Flying Officer Wales and his crew landed at Kandahar Base in Afghanistan, where he spent about three hours on the ground, a royal spokesman says, and chatted with British service members about fighting the Taliban. Prince William's mission continued on to Al Udeid base in Qatar before returning home late Monday. In all, Prince William's Afghan adventure lasted 30 hours.

Prince William's trip follows that of his little brother, Prince Harry's ten-week stint with Royal Army troops in Afghanistan's Helman province. A media leak blew open what was supposed to be Harry's secret frontline mission. Prince William was there when Harry returned home and was hailed as a hero, leading some British media to speculate if Prince William's Afghan adventure was perhaps sibling rivalry or an effort to get some good press.

This isn't the first time the prince has piloted a military aircraft. Earlier this month, it was revealed he landed a military Chinook helicopter in his girlfriend's back yard. Now, mind you, it was a field on her parent's estate. But it was a public relations debacle. The military tried to spin it by saying the 25-year-old prince had permission to land the helicopter, saying it was a vital part of training for operations. So, now you know, he wasn't trying to impress his girlfriend. Alphonso Van Marsh, CNN, in London.

(END VIDEO CLIP)

Shoutout

RAMSAY: Time for the Shoutout! What is the oldest national park in the U.S.? If you think you know it, shout it out! Is it: A) Glacier Bay, B) Yellowstone, C) Yosemite or D) Badlands? You've got three seconds -- GO! President Ulysses Grant made Yellowstone the country's first national park back in 1872! That's your answer and that's your Shoutout!

Where Buffalo Roam...

AZUZ: Bison, or buffalo, they are the same thing, have been roaming around Yellowstone since long before it became a national park. In fact, the Park Service says the area's been home to bison since prehistoric times, the only place in the continental U.S. that can make that claim. But the bison population is decreasing and fast! Yellowstone officials estimate that in the last six months, the park's herd has dropped from 4,700 to about 2,300! Dan Simon explains some of the reasons why.

(BEGIN VIDEO CLIP)

DAN SIMON, CNN REPORTER: It's a sight once considered unthinkable in Yellowstone National Park: more than twenty bison loaded onto a truck and headed to a slaughterhouse. In the last few months, the numbers of those slaughtered hit a record high: more than 1,400 bison, one third of Yellowstone's population, rounded up and killed.

MIKE MEASE, BUFFALO FIELD CAMPAIGN: There has never been a slaughter like this since the 1800s in this country of the bison, and it's disgusting.

SIMON: The bison, or American buffalo as they're often called, were hunted and practically wiped out in the late 1800s. But today, Yellowstone is overflowing with them. This right here is the problem. You can see a bison on the street. We've seen some cars having to dodge the animal. Obviously, we don't know where it's going to go. Hopefully, back into the park.

AL NASH, NATIONAL PARK SERVICE: Food is difficult and scarce to come by at the end of winter. They're leaving the interior of the park to lower places, in part, to look for food. There's limited tolerance for bison outside the boundaries of Yellowstone National Park.

SIMON: Limited tolerance because of fears the bison carry a disease called brucellosis.The disease, which causes pregnant animals to abort their young, can spread to cattle. For ranchers, the stakes are high.

MARTIN DAVIS, RANCHER: Montana has spent millions of dollars through the years to get brucellosis eradicated from our livestock, and to put that in jeopardy, no one wants that to happen.

SIMON: Critics call the killing an overreaction. They say there are no documented cases of bison giving brucellosis to cattle.

MEASE: I mean it's hype, it's a hysteria. And it's not a fatal disease.

SIMON: With so many killed, the slaughtering for now has now been curtailed to only those that cannot be herded back into Yellowstone. And under pressure, federal and state officials announced they will lease private land where some bison can freely roam outside the park. But it's just a first step. Hundreds each year are still at risk of being slaughtered, and that will keep fueling a controversy over a national icon. Dan Simon, CNN, in Yellowstone National Park.

(END VIDEO CLIP)

Before We Go

AZUZ: And finally, you probably don't want to hear about anyone yakking, but you can't resist this big fella! His owner is also the CEO of a small company, and he decided to bring the beast to the office this week. The wooly worker sat in on a conference call, met some of the other employees, even helped with a presentation. And apparently, he left his mark, or at least his fur, on the office.

Goodbye

AZUZ: Take your yak to work day: Great for morale, horrible for productivity. And that's where we quit yakking. We'll see you tomorrow. I'm Carl Azuz. E-mail to a friend