The Show Notes: Swing State Democrats Turn on Biden, Peter Doocy Interviews, & Surging EV Prices

Welcome! Used electric vehicle prices are surging.

China is enduring one of the most severe heatwaves on record. Here are the pictures.

Headline: Democrats show reluctance to campaign with Biden - The Hill

New: The United States is still in a recession. - Fox Business

The Show Notes is my blueprint for radio but is only for subscribers. You can subscribe here and listen here. The show starts now.

Clip of the day:

RNC Research @RNCResearch

Biden is asked, “Is this unfair to people who paid their student loans or chose not to take out loans?” He has no answer.

Biden’s Student Loan Backlash

Moderate Democrats are livid with President Biden’s executive order to forgive $10,000 in student loan debt. Here are the reactions from four Democrats in highly competitive races.

Nevada Senator Cortez Masto: “I don’t agree with today’s executive action because it doesn’t address the root problems that make college unaffordable.”

Ohio Senate Candidate Tim Ryan: “While there's no doubt that a college education should be about opening opportunities, waiving debt for those already on a trajectory to financial security sends the wrong message to the millions of Ohioans without a degree working just as hard to make ends meet."

Colorado Senator Michael Bennet: "In my view, the administration should have further targeted the relief, and proposed a way to pay for this plan. While immediate relief to families is important, one-time debt cancellation does not solve the underlying problem.”

New Hampshire Rep. Chris Pappas: "This announcement by President Biden is no way to make policy and sidesteps Congress and our oversight and fiscal responsibilities. Any plan to address student debt should go through the legislative process, and it should be more targeted and paid for so it doesn't add to the deficit."

Democratic Economist: This Is Inflationary

Democratic economists are saying what the rest of us already know: forgiving student loan debt is deeply inflationary. Jason Furman was Obama’s director for The National Economic Council:

Jason Furman @jasonfurman

Pouring roughly half trillion dollars of gasoline on the inflationary fire that is already burning is reckless. Doing it while going well beyond one campaign promise ($10K of student loan relief) and breaking another (all proposals paid for) is even worse.

Larry Summers is the famed Clinton and Obama economist:

Lawrence H. Summers @LHSummers

Student loan debt relief is spending that raises demand and increases inflation. It consumes resources that could be better used helping those who did not, for whatever reason, have the chance to attend college. It will also tend to be inflationary by raising tuitions.

Editorial Reaction

The Editorial Board at The Wall Street Journal had one of the most damning pieces on the story. Here’s the part that matters:

“Worse than the cost is the moral hazard and awful precedent this sets. Those who will pay for this write-off are the tens of millions of Americans who didn’t go to college, or repaid their debt, or skimped and saved to pay for college, or chose lower-cost schools to avoid a debt trap. This is a college graduate bailout paid for by plumbers and FedEx drivers.”

Even The Washington Post bashed the Biden administration with a featured opinion column that ended with the following:

“Trying to fix these problems by making it even more attractive to borrow money is like trying to quit smoking by switching to unfiltered cigarettes. When you’re doing something destructive, your best bet is to stop. But if you can’t manage that, you should at least refrain from making the problem worse.”

Peter Doocy Don’t Play

Washington Free Beacon @FreeBeacon

Doocy on the student loan handout: "Who is paying for this?" Jean-Pierre: "What we are saying is the work that this administration has done, the work that the Democrats in Congress have done, is actually there."

Greg Price @greg_price11

Doocy: "The people that already paid their student loans, they don't get anything out of this deal." Ed Sec Cardona: "Right."

More student loan headlines:

• Biden's student loan handout to cause spike in college tuitions, experts say - Fox Business

• Democrats' student loan backlash - Axios

• Cancelling Student Debt Would Undermine Inflation Reduction Act - CRFB

• Forgiving Student Debt Without Abolishing the Federal Loan Program Is Morally Wrong - Reason

The rest of the news:

• 🚨 FBI brass warned agents off Hunter Biden laptop due to 2020 election: whistleblowers - NY Post

• Go Woke, Get The Hell Out: Texas Bans Wall Street Giants Blackrock, Credit Suisse And Others Over Energy Boycott - ZeroHedge

• 3 U.S. service members injured in Iran-backed rocket attacks in Syria - Politico

• Vanessa Bryant awarded $16m in suit over photos of Kobe’s crash - The Guardian

• 🚨 The U.S. Government Is Urging Americans Not To Travel To These Parts Of Mexico - Yahoo

• 🚨 UK Government Warned Of "Civil Unrest" Over People's Inability To Pay Energy Bills - ZeroHedge

• Six months of war in Ukraine — and it's only growing more dangerous - LA Times

• NYPD cops ordered not to ‘congregate’ or converse on city streets, memo shows - NY Post

• Powell hits Wyoming to redefine Fed’s great inflation debate - Politico

• Amazon is shutting down its telehealth service, Amazon Care - CNBC

• 🚨 The Democrats’ Shifting Coalition - The Liberal Patriot

• Korea Shatters Its Own Record for World’s Lowest Fertility Rate - Bloomberg (paywall)

Tweets that caught my eye: