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and somewhat confusing u.s. economy. new data shows the economy shrank 0.6% in the second quarter, said another way that shrinking slightly less than first thought. the u.s. also is seeing a decrease in the number of people filing for new unemployment benefits, said another way, the labor market is still strong. this comes as americans try to understand what president biden's student loan debt plan what it means for them and their families, even as some members of his own party say it misses the mark. republicans are unified in saying they don't think it is fair, and some economists ...

struggling to answer questions about the president's new student loan relief program and the criticism it is getting both from the left and the right. this hour we'll break down the plan's benefits and the backlash. welcome to our viewers here in the united states and all around the world. wolf blitzer is off today. i'm alex marquardt, and you're in the situation room. tonight, the justice department is up against a new deadline, under orders to release a redacted version of the mar-a-lago search affidavit within the next 18 hours. let's go right to cnn justice correspondent jessic...

debt as responsible and fair. the nation struggling for basic needs and thanks to the economy president biden himself created may beg to differ. blasting joe biden for overreach. >> it is unfair to people who paid loans before. >> >> of course, taxes and prices will get higher. >> i don't think he should do it at all. i really think he can care less the actual loan aspect of it. to put himself in a good light with younger voters. >> todd: kevin corke live from washington, kevin. >> good morning to you. this is one of those things you have to say to yourself, "i wonder what was going ...

federal loan payments. none of them have to pay any of these loans back until january of 2023. president claiming that this targeted approach will actually have a positive effect, he says, on lowering inflation. but tax experts and republicans think that those numbers do not add up. this is senator tom cotton. watch this. >> the president doesn't have the power just to unilaterally on his own eliminate entire categories of de. of all the dumb things joe biden has done this is the dumbest yet. a terrible policy that will harm many more americans that it will help. >> a former obama ec...

especially now that the estimated cost of taxpayers is half a trillion dollars over the next ten years. an op-ed in "the washington post" paul's their plant -- calls their plans aggressive, and -- no concerns about taking money from plumbers and giving it -- writing that low-wage workers will pick up the tabs to cancel the educational debt. how is the president responding to these questions? let's take a look. >> and about -- how others don't have to? we see this all the time. i want to flashback to another biden and pelosi moment. they both addressed this issue. >> people think that...