If you’re a staffer in the Biden White House and need a liberal network news show to unhesitatingly promote your daily messaging, ABC’s Good Morning America has been a reliable tool (see here, here, and here for just a sampling). Tuesday was no exception as they spent 78 seconds extolling the Biden regime as wholly concerned with the American consumer. This time? It’s targeting junk fees (which they’ve had a penchant for shoveling before).
“You know, this morning, we’re going to take a look at how the Biden administration is targeting junk fees for retirement savings. The White House says the plan will save the family tens of billions of dollars. That is coming up,” announced co-host, former Clinton hand, and reliably liberal hack George Stephanopoulos in a tease.
The chyron for the story later in the first half-hour was as if a more-competent Karine Jean-Pierre wrote it herself: “New This Morning; Junk Fee Crackdown; Biden Administration Takes Aim at Charges Associated With Retirement Savings”.
Co-host Robin Roberts also had her lines to read, which served as the start of the segment painting Biden as a consumer crusader (as opposed to the man who served for 36 years as the senator for the credit card company state): “Now, the Biden administration’s ongoing crackdown on junk fees. This morning, they’re taking aim at junk fees associated with retirement savings.”
Senior White House correspondent Salina Wang channeled her colleague and chief Biden apple polisher Mary Bruce on this one, noting that Biden’s “cracking down on those pesky junk fees” given the fact that “the economy [is] top of mind for so many Americans” and Biden “facing a tough reelection”.
Wang explained that the Biden “Labor Department will propose new rules that would hold financial planners to higher account when they give advice, including what to do with your 401k” and that it “serves the best interest of their clients, instead of chasing the best commission for themselves.”
Adding they changes “could take effect in the coming months”, she admitted she was forwarding regime talking points: “The White House estimates that those conflicts of interest can cost retirement savers as much as 20 percent of their savings over a lifetime. The White House estimating that these new rules could save families tens of billions of dollars.”
She closed by acknowledging Biden’s “low approval rating[s]” on the economy and thus his handlers want to change that with this months-long crusade.
“If that ban goes into effect, then the companies that charge those fees, well, they could be fined and even forced to pay customers back,” she condlued.
Exit question: What did the White House send ABC as a thank you for doing this segment? Fruit basket? Six-pack of an Oktoberfest beer?
To see the relevant transcript from October 31, click “expand.”
ABC’s Good Morning America
October 31, 2023
7:02 a.m. Eastern [TEASE]GEORGE STEPHANOPOULOS: You know, this morning, we’re going to take a look at how the Biden administration is targeting junk fees for retirement savings. The White House says the plan will save the family tens of billions of dollars. That is coming up.
(....)
7:12 a.m. Eastern
[ON-SCREEN HEADLINE: New This Morning; Junk Fee Crackdown; Biden Administration Takes Aim at Charges Associated With Retirement Savings]
ROBIN ROBERTS: Now, the Biden administration’s ongoing crackdown on junk fees. This morning, they’re taking aim at junk fees associated with retirement savings. Our senior White House correspondent Selina Wang has more for us. Good morning, Selina.
SELINA WANG: Good morning, Robin. With the economy top of mind for so many Americans, and the President facing a tough reelection next year, he’s once again cracking down on those pesky junk fees. Today, his Labor Department will propose new rules that would hold financial planners to higher account when they give advice, including what to do with your 401k. The rules, which could take effect in the coming months, would require them to give advice that serves the best interest of their clients, instead of chasing the best commission for themselves. The White House estimates that those conflicts of interest can cost retirement savers as much as 20 percent of their savings over a lifetime. The White House estimating that these new rules could save families tens of billions of dollars. Now, the President has been receiving low approval rating for its handling of the economy. Many Americans are still struggling with higher costs. So, his administration is trying to tackle hidden costs. Earlier this month the administration had proposed a ban on junk fees across many industries, from concert tickets to hotels. If that ban goes into effect, then the companies that charge those fees, well, they could be fined and even forced to pay customers back. George?
STEPHANOPOULOS: Okay, Selina, thanks.
