Media Hype About New Stimulus Bill

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Media Hype About New Stimulus Bill

by Stephen Lendman (stephenlendman.orgHome – Stephen Lendman)

Biden hyperbolically called Senate passage of the measure a “giant step forward (sic),” adding:

“It’s going to make a big difference in so many lives in this country (sic).”

Millions of jobless Americans are excluded from receiving a one-time $1,400 stimulus check — because their 2019 income matched or exceeded the threshold limit to qualify, what Biden and at least most media reports ignored.

The Wall Street Journal was more straightforward, saying “more than $1 trillion (in the measure is) for (Dem) constituencies, expansions of progressive programs, pork, and unrelated policy changes.”

Most funding to states goes to Dem-controlled blue ones. 

The bill will do nothing to stimulate economic growth, what jobs creation does best, what’s absent in the measure and other federal legislation.

Defying reality, the NYT falsely claimed that the bill “jump-start(s) the economy (sic)” and shows that Biden aims to help ordinary Americans in need (sic).

He’s been indifferent toward public need through his public life.

A cognitively impaired shadow of his former self, he’s unaware or lacks understanding of major domestic and geopolitical issues — other regime officials handling things, not him.

Creating its own reality that’s world’s apart with what ordinary Americans struggle with daily, the Times added the following:

“For (Biden), the plan…is a declaration of his economic policy (sic) — one that captures the principle (Dems) and liberal economists have espoused over the past decade: that the best way to stoke faster economic growth is from the bottom up (sic).”

Jobs creation is the engine of economic growth, an issue gone unaddressed for years.

Other measures are bandaids. While trillions of dollars go largely to the nation’s military, industrial, security complex, as well as handouts to Wall Street and other corporate favorites, the exploding national debt clock keeps ticking.

At over $28 trillion and continuing to rise, it stands at nearly 130% of GDP compared to 53% in 1960 when I finished graduate school and began my formal working life.

The current annual budget deficit — excluding the $1.9 trillion measure — is nearly $4.6 trillion and rising.

By yearend, the national debt will exceed $30 trillion with no end to exponential increases.

Senator Everett Dirksen’s long ago quote about “(a) billion here, a billion there, pretty soon, you’re talking real money” needs revision to a trillion from a billion.

Lots of what’s called “stimulus” or “relief” goes to special interests that includes pork project handouts.

Funding the measure will be from borrowed money at the expense of more greatly increasing the national debt.

Andrew Jackson was the last US president to eliminate the nation’s debt burden.

In 1835, it was zero during his tenure, the only time in US history to happen.

He and Jefferson opposed the Bank of the United States, the earlier version of today’s Fed.

Jackson called it “a hydra-headed monster.” 

Powerful bankers rule the world today by creating and controlling money, entrapping nations in debt.

The US income tax was established so the public would pay interest to bankers on America’s debt. 

The nation today is debt-entrapped. No Jeffersons or Jacksons are around to challenge what’s going on.

Monied interests run things for their own self-interest at the expense of exploited ordinary people.

What’s most needed is absent from congressional debate.

During the 1930s Great Depression, FDR and Congress initiated an alphabet soup of jobs creation programs that put millions of unemployed Americans back to work.

No jobs creation programs were initiated today by the White House or Congress, bandaid handouts alone that require more of the same.

Instead of a long-ago land of opportunity, today’s America is thirdworldized for most of its people by design.

At the same time, the nation is being undermined by money printing madness to benefit privileged interests.

The stimulus measure, heading for adoption, does nothing to keep things from an eventual bad ending that will harm ordinary Americans most.

Ignoring reality, the Washington Post praised what it falsely called “shower(ing) money on Americans (and) cutting poverty…a defining (Biden) move (sic).”

Hard times likely to keep growing harder were ignored. 

Claiming the new measure “will boost growth this year to the highest level in decades and reduce the number of Americans living in poverty by a third” is utter rubbish.

The US ruling class is indifferent toward the rights and needs of ordinary Americans.

Privileged interest are exclusively served at their expense. The new stimulus measure changes nothing.

Instead of setting the record straight, WaPo and other major media feature their own falsified reality.

On issues mattering most, mass deception is featured, truth and full disclosure suppressed.

VISIT MY WEBSITE: stephenlendman.org (Home – Stephen Lendman). Contact at lendmanstephen@sbcglobal.net.

My two Wall Street books are timely reading:

“How Wall Street Fleeces America: Privatized Banking, Government Collusion, and Class War”

www.claritypress.com/product/how-wall-street-fleeces-america/

 

“Banker Occupation: Waging Financial War on Humanity”

www.claritypress.com/product/banker-occupation-waging-financial-war-on-humanity/

Stephen Lendman
Stephen Lendman
Stephen Lendman was born in 1934 in Boston, MA. In 1956, he received a BA from Harvard University. Two years of US Army service followed, then an MBA from the Wharton School at the University of Pennsylvania in 1960. After working seven years as a marketing research analyst, he joined the Lendman Group family business in 1967. He remained there until retiring at year end 1999. Writing on major world and national issues began in summer 2005. In early 2007, radio hosting followed. Lendman now hosts the Progressive Radio News Hour on the Progressive Radio Network three times weekly. Distinguished guests are featured. Listen live or archived. Major world and national issues are discussed. Lendman is a 2008 Project Censored winner and 2011 Mexican Journalists Club international journalism award recipient.