This has been answered elsewhere, but the ToS includes two license clauses, one of which is CC-BY-SA, and the other is this:
You grant Stack Exchange the perpetual and irrevocable right and license to use, copy, cache, publish, display, distribute, modify, create derivative works and store such Subscriber Content and to allow others to do so in any medium now known or hereinafter developed (“Content License”) in order to provide the Services, even if such Subscriber Content has been contributed and subsequently removed by You.
Retrieved from https://web.archive.org/web/20131014025738/http://stackexchange.com/legalhttps://web.archive.org/web/20131014025738/https://stackexchange.com/legal, and there's a similar clause in the current version.
More broadly, of course SE isn't going to make public statements about this kind of thing on demand, that not only encourages more noise by people quibbling over things, but if it's an official statement it can have concrete legal ramifications.
Regarding copyright law, this is the section of the US copyright code that establishes the "rights"
Subject to sections 107 through 122, the owner of copyright under this title has the exclusive rights to do and to authorize any of the following:
(1) to reproduce the copyrighted work in copies or phonorecords;
(2) to prepare derivative works based upon the copyrighted work;
(3) to distribute copies or phonorecords of the copyrighted work to the public by sale or other transfer of ownership, or by rental, lease, or lending;
(4) in the case of literary, musical, dramatic, and choreographic works, pantomimes, and motion pictures and other audiovisual works, to perform the copyrighted work publicly;
(5) in the case of literary, musical, dramatic, and choreographic works, pan-tomimes, and pictorial, graphic, or sculptural works, including the individual images of a motion picture or other audiovisual work, to display the copy-righted work publicly; and
(6) in the case of sound recordings, to perform the copyrighted work pub-licly by means of a digital audio transmission.
Retrieved from https://www.copyright.gov/title17/title17.pdf
As far as I can tell, SE has granted themselves all pertinent rights via the above ToS, so SE possesses those rights via an unlimited license. Copyright law doesn't say anything specific about this situation because a license is handled by contract law, which is it's own thing. But if you have a right, you can make a contract that further grants access to the work in question that exercises that right.