Pelosi to Cheddar: GOP Has Saddled Millennials with 'Unconscionable' Debt
*By Carlo Versano*
Young Americans face a double burden from crushing student debt and the ballooned federal deficit that resulted from President Trump's tax cut, House Speaker Nancy Pelosi told Cheddar's J.D. Durkin in an interview that aired Wednesday.
Pelosi called the economic position many millennials find themselves in, even as the economy remains strong, "unconscionable."
"Republicans foisted onto future generations \[an\] economy that is unfair, that is not really lending itself to growth in a strong, predictable, confident, certain way," Pelosi said.
Democrats have already begun making the case to young voters that they are the party of fairness. Pelosi pointed to encouraging millennial turnout in the midterm elections and said that H.R. 1, a sweeping anti-corruption and voting rights bill that's currently in committee, is among her top legislative priorities. That bill is getting "tremendous response" from young voters who want to see more transparency around so-called "dark money" in elections and know that their vote matters, Pelosi said.
That bill also includes provisions that would create automatic nationwide voter registration and crack down on gerrymandering. Conservative lobbyists have [called](http://conservativeactionproject.com/conservatives-oppose-h-r-1-the-ultimate-fantasy-of-the-left/) it "the ultimate fantasy of the left," and the GOP opposition means it has virtually no chance of becoming law while Republicans control the Senate and White House.
Nevertheless, Pelosi sees that type of legislation as key to attracting broad millennial support in 2020.
"That's hard to break down the skepticism that is there, but we're on a path to do it," she said.
While President Trump and the GOP will likely run on a message of tax cuts and economic prosperity, Pelosi seems to believe they are vulnerable on the fairness message.
"Eighty-three percent of the benefits of their tax bill went to the top 1 percent," Pelosi said. " I think that it's important to note that we want an economy that works for you... not for the top, the wealthiest people in our country."
On the burden of student debt, Pelosi said she recognized that it weighed on millennials "like an anvil" as they begin their professional lives, and makes everything harder ー from getting married to starting a business. She did not mention to Cheddar any specific actions Democrats in Congress will take with regard to student debt relief, though she noted that a now-expired provision of Obamacare was built to expand funding of community colleges and Pell grants and mitigate interest rates. "We have to go back to that," she said.
With a temporary break in the impasse over border wall funding heading toward a Feb. 15 appropriations deadline, Pelosi didn't show her cards on how House Democrats are negotiating to ensure the government isn't shut down again.
"I think that the shutdown was a bitter pill for some of the Republicans to swallow and they might like to avoid that," she said.
Prices at the pump have escalated severely during the Russian invasion of Ukraine. Paul Christopher, head of global market strategy, Wells Fargo Investment Institute, joined Cheddar News to explain how he sees the gas prices continuing to spiral despite the International Energy Agency announcing the release of 60 million barrels of oil from the strategic reserves of 31 countries. "We think you could see oil and gas prices continue to rise. Oil prices maybe could hit $140 a barrel. That's possible. And that would add another 50-60 cents on top of the gasoline prices you already have," he said.
President Joe Biden is set to give his first State of the Union address amid both international and domestic crises: the Russia-Ukraine conflict and continued rising inflation and economic worries at home. He's expected to focus on a four-point plan to reduce everyday costs, and promote economic competition, among other key tenets. But will it be enough to persuade Americans that his administration will be able to get rising prices and foreign policy moves under control? Eugene Scott, national politics reporter at The Washington Post, joins Closing Bell to discuss Biden's expected focus, how he will aim to ease Americans' concerns, and more.
Dr. Daniel Bober, psychiatrist and certified addiction medicine physician, joins Cheddar News to offer tips on how parents and guardians can talk to their children about what's happening in Ukraine.
While crypto exchanges have been used to aid Ukraine amid the Russian invasion, critics point to possible sanction evasion on the Russian side using the same technology. Cheddar's Alex Vuocolo takes a closer look.
Airbnb.org has announced that it will provide up to 100,000 Ukrainian refugees with free housing. Airbnb.org is the philanthropic branch of Airbnb that provides free housing for those affected by disasters. Joe Gebbia, co-founder and chairman of Airbnb.org, joined Cheddar News to talk about how the company has helped thousands find shelter in times of crisis. "A lot of people are saying this conflict is likely to be the largest humanitarian crisis since World War II, and I believe Airbnb believes that companies have a responsibility to step up and to help out in times like these," he said.
The International Energy Agency’s 31 member countries have agreed to release 60 million barrels of oil from their strategic reserves “to send a strong message to oil markets” that supplies won’t fall short after the Russian invasion of Ukraine.
Every ten years, there’s a census. That decennial count is long and tedious and arduous…and important. Because it confirms who lives where so the Federal Government properly allocates resources, so services go to the places that need them most and - yes - so states gain or lose seats in congress and have the opportunity to redraw all their state and Congressional lines.
That means, every 10 years, states start what has famously been one of the most partisan and divisive processes in politics. Because one strategic line can mean the difference in party control in not just the state legislatures but also in congress.
Cheddar explains how gerrymandering works and why it exists.
The COVID-19 pandemic disrupted blood donations leading to severe shortages throughout the country. Chloe Aiello reports on the desperate need for new donors.
Russian forces escalated their attacks on populated urban areas Tuesday, bombarding the central square in Ukraine’s second-largest city and Kyiv’s main TV tower.