ABC Ignores Its Own Revelation That Obama Was 'Wealthy' While Paying Off Student Loans
ABC News has, thus far, ignored its own revelation that, contrary to insinuations made by Barack Obama, the then-private citizen and his wife "were making enough to be considered 'wealthy' by the president’s own definition in the years before his loans were paid off." ABC relegated this story to a posting on its website, not mentioning it on Wednesday's World News or Nightline.
The story was similarly skipped on Thursday's Good Morning America. World News did touch on student loans, but only to accuse Mitt Romney of flip-flipping on the issue. David Muir dug up a clip of the Republican telling a college student to shop around and not expect the government to bail him out.
On Tuesday, President Obama said this: "We only finished paying off our student loans off about eight years ago...That wasn’t that long ago. And that wasn’t easy – especially because when we had Malia and Sasha, we’re supposed to be saving up for their college educations, and we’re still paying off our college educations."
Yet, as Jon Karl explained on ABCNews.com, Obama was sometimes making over $250,000 ($272,759 in 2002). He reported:
But according to their tax returns, which are available on the White House website, the Obamas had a healthy, six-figure income by the year 2000 (the earliest return available). And for at least two years before his loans were paid off, Obama, by his own definition, made so much they were wealthy enough to pay higher taxes.
Here’s a rundown of the president’s income, according to his tax returns, in the years before he paid off his student loans:
In 2001 and 2002, the Obamas would have met the $250,000 standard the president has set for those wealthy enough to afford to pay more taxes.
It’s also notable that the Obamas didn’t claim deductions for student loans on any of those years, most likely because they made too much money to qualify for the student loan deduction.
Interesting, pertinent information, but apparently not worthy of appearing on the actual ABC network.
A partial transcript of the April 25 World News can be found below:
DAVID MUIR: And as Romney was delivering his speech, President Obama was delivering one liners on late night. Tonight, Republicans are on the attack, putting the two images side by side. The tale of two leaders, they say. The President's team will argue it was a huge opportunity in front of a giant crowd of college students, a key demographic, as the President pushes to keep interest rates from jumping on those college loans.
BARACK OBAMA: E-mail your member of Congress and tell them, don't double my rates. In fact, if you tweet, you can use that hash tag, #don'tdoublemyrates.
MUIR: Romney now says he agrees on that point. But this was Romney just last month When a perspective college student asked about the skyrocketing price of college.
MITT ROMNEY: The best thing I can tell you is to tell you to shop around. And to compare tuition in different places. Make sure you can get your degree in four years- or less. And don't expect the government to forgive the debt you take on. Recognize you're going to have to pay it back.
MUIR: The two candidates there with two different answers on the key issue of college loans. And, of course, young voters, a key demographic.