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In fact, since 2008, Main Street America's been in Depression, a condition getting worse, not better. Now hard times will deepen with greater budget cuts passed at a time massive stimulus is needed for job creation and productive economic growth. That's not what Washington plans or intends.
On July 31, New York Times writers Carl Hulse and Helene Cooper did their job as ordered headlining, "Obama and Leaders Reach Deal," saying:
Late Sunday, a deal was reached to "cut trillions of dollars in federal spending over the next decade" at the worst possible time, what Hulse and Cooper left unsaid, repeating the deception that default loomed without agreement.
A July 31 Times editorial continued the Big Lie, headlining, "To Escape Chaos, a Terrible Deal," saying:
The deal will "avert a catastrophic government default," at least "through the end of 2012. The rest of it is a nearly complete capitulation to the hostage-taking demands of Republican extremists."
Left unsaid was no possibility of default. Not now at least. Both parties won't tolerate it. Wall Street knows it. All corporate America, in fact, but knowledgeable pundits and editorial writers won't explain.
Moreover, as discussed above, Obama and most Democrats back major social benefit cuts. They're as hardline as Republicans. Pretending otherwise is gross deception. It's a longstanding American media speciality, representing wealth and power interests only like political Washington, popular needs be damned.
Debt Deal Details
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