On Thursday night, NBC Nightly News committed a random act of journalism during their broadcast segment on the political fallout from President Joe Biden’s student loan bailout executive order. NBC even highlighted the growing divisions in the Democrat Party over the bailout.
Introducing the segment, anchor Lester Holt announced that there’s “new debate over President Biden's plan to forgive student debt for millions of Americans. Some Progressives arguing it doesn't go far enough. While some moderates and many in the GOP say it's simply unfair.”
Giving his report, chief White House correspondent Peter Alexander reported how Biden’s student loan bailout was “praised by many progressive Democrats though some wanted the President to go further. While several moderates are critical.”
Alexander then read a statement from Ohio Democrat Tim Ryan who said the bailout “sends the wrong message to the millions without a degree working just as hard to make ends meet.”
While progressives are angry the bailout doesn’t go far enough, moderates are frustrated that the bill goes too far, it's clear to NBC that there is a split among Democrats.
“Republicans say it will force many working-class taxpayers who did not go to college to cover the cost of more affluent people who did,” Alexander revealed before airing a soundbite from Arkansas Republican Senator Tom Cotton:
This is grossly unfair. But it just gives you an insight into the priorities of the democratic party. They are once again looking out for the interests of wealthy, well-educated elites, largely clustered on our coasts.
Alexander even interviewed a plumber who is “outraged by the President's decision. He says he and his wife juggled multiple jobs so his wife could pay for college without a loan.”
At the end of his report, Alexander admitted it’s “still unclear whether this will impact inflation, and the White House says it cannot predict the price tag.”
To read the relevant transcript of this segment click “expand”:
NBC Nightly News
August 25, 2022
7:10:35 p.m. EasternLESTER HOLT: Back home new debate over President Biden's plan to forgive student debt for millions of Americans. Some Progressives arguing it doesn't go far enough. While some moderates and many in the GOP say it's simply unfair. Peter Alexander is at the White House.
PETER ALEXANDER: Triana Downing is overjoyed.
TRIANA DOWNING: I did a happy dance. I was very, very excited.
ALEXANDER: After President Biden's announcement that will knock her student loan debt down from 16 to $6,000. Welcome relief just a few years after she graduated from George Washington University.
DOWNING: This is a huge blessing for me. There is a weight that’s lifted off my shoulders.
ALEXANDER: But tonight, the President's executive action is fueling a fierce debate over fairness. The move means the government will erase $10,000 in federal student loans for those making less than $125,000. And $20,000 in student loan debt for lower-income Pell Grant recipients.
PRESIDENT JOE BIDEN: My plan is responsible and fair. It focuses the benefit on middle class and working families.
ALEXANDER: The announcement praised by many progressive Democrats though some wanted the President to go further. While several moderates are critical. Ohio Democrat Tim Ryan warning it sends the wrong message to the millions without a degree working just as hard to make ends meet. Republicans say it will force many working-class taxpayers who did not go to college to cover the cost of more affluent people who did.
SENATOR TOM COTTON: This is grossly unfair. But it just gives you an insight into the priorities of the democratic party. They are once again looking out for the interests of wealthy, well-educated elites, largely clustered on our coasts.
ALEXANDER: A master plumber in Georgia Gabriel Runyan is outraged by the President's decision. He says he and his wife juggled multiple jobs so his wife could pay for college without a loan. What frustrates you most about this?
GABRIEL RUNYAN: We worked hard so we wouldn't have to get loans. We didn't want to use the system. So why is it those who use the system get the easy way out?
ALEXANDER: Still unclear whether this will impact inflation. And the White House says it cannot predict the price tag. But one nonpartisan group says it could cost taxpayers $500 billion.
