Good Morning America co-host George Stephanopoulos may no longer be an official paid operative of the Democratic Party, but he’s clearly still doing the same work. The former aide to Bill Clinton parroted Biden White House Chief of Staff Ron Klain’s spin that sky high inflation is actually good news for Social Security recipients. A similarly desperate attempt was made on CBS.
Talking to reporter Mary Bruce about the latest bad economic news, Stephanopoulos insisted, “Inflation is, in some ways, good news for Social Security recipients.”
The GMA host’s attempt at good news echoed talking points tweeted from Klain on Thursday: “For the first time in a decade, SS benefits will go up while Medicare premiums are going DOWN. So Seniors will get ahead on inflation.”
On GMA, Bruce assisted Stephanopoulos in pushing the upside to inflation: “George, the roughly 70 million Social Security recipients are about to receive an extra $146 per month. That is an 8.7 percent cost of living increase. It is the largest in more than 40 years.” Of course, the bump in benefits is the largest in 40 years because inflation is at its highest in 40 years. Hardly something that’s “good news.”
Even Bruce had a hard time putting a happy face on Thursday’s economic news. She allowed, “Yeah, the President is well aware these numbers present a real political challenge for Democrats.” But Bruce simply repeated Biden talking points: “The President is trying to shift the spotlight onto Republicans arguing that inflation will only get worse if they win big in November. He says they don't have a plan to tackle any of this.”
Over on CBS Mornings, business analyst Jill Schlesinger wasn’t quite as bad as Stephanopoulos and Bruce. But she described the bump in benefits as the “only good news about high inflation.”
NATE BURLESON: There's also news about Social Security.
JILL SCHLESINGER: Yeah. The only good news about high inflation is that, when we talk about the cost of living adjustment for Social Security recipients, this is 70 million people, they're getting an 8.7 percent in Social Security benefits next year. That means an average monthly increase of an extra $140 for average Social Security beneficiaries, that's going to help them fight inflation for next year.
The desperate attempt at putting a happy face on inflation was sponsored by JC Penneys on ABC and Progressive insurance on CBS. Click on the links to let them know what you think.
Transcripts are below. Click "expand" to read more.
Good Morning America
10/14/2022
7:16 AM
GEORGE STEPHANOPOULOS: At the White House, President Biden struck back at the GOP.
JOE BIDEN: If Republicans win, inflation’s going to get worse. It’s that simple.
STEPHANOPOULOS: But inflation spells political trouble for Democrats this year. Senior White House correspondent Mary Bruce has the latest on the White House response. Good morning, Mary.
MARY BRUCE: Good morning, George. Yeah, the President is well aware these numbers present a real political challenge for Democrats, especially with the midterms now just a few weeks away so the President has been trying to put a positive spin on it saying the annual inflation rate has gone down since earlier the year. Look the President acknowledges— he says costs are simply still too high. He says he understands that Americans are really feeling squeezed and trying to tout the steps he's taken to try to bring down costs like, passing the Inflation Reduction Act which would lower prescription drug costs. But the President is trying to shift the spotlight onto Republicans arguing that inflation will only get worse if they win big in November. He says they don't have a plan to tackle any of this. George?
STEPHANOPOULOS: Inflation is, in some ways, good news for Social Security recipients.
BRUCE: George, the roughly 70 million Social Security recipients are about to receive an extra $146 per month. That is an 8.7 percent cost of living increase. It is the largest in more than 40 years. And George, this is all intended to help America’s retirees contend with these rising costs.
STEPHANOPOULOS: Mary Bruce, thanks very much.
CBS Mornings
10/14/2022
7:09NATE BURLESON: There's also news about Social Security.
JILL SCHLESINGER: Yeah. The only good news about high inflation is that when we talk about the cost of living adjustment for Social Security recipients, this is 70 million people, they're getting an 8.7 percent in Social Security benefits next year. That means an average monthly increase of an extra $140 for average Social Security beneficiaries, that's going to help them fight inflation for next year.
