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Unemployment rose to 8.2% and underemployment rose to nearly 15%. The Wall Street Journal reported that “U.S. job growth slowed sharply in May, the latest indication that the economy has lost momentum.”
Yet, President Obama claimed that “the private sector is doing fine.”
On CBS’s This Morning, New York Times columnist Paul Krugman came to the President’s defense and stated “the truth is, the private sector is doing better than the public sector…the real story about this economy is that the cut backs at the public sector are what’s hurting the economy.”
NBC Today co-host Ann Curry spun the statement as being “taken out of context.” MSNBC’s Chris Hayes attempted to define what the word “fine” meant in this context. He compared it to if “you fell and gashed your head and you were bleeding and your friend said, ‘Are you okay?’ And you said, ‘I’m fine.’ It means you don’t have to rush me to the emergency room."
Shortly after President Obama’s address on the economy, the Federal Reserve issued a new report that found Americans’ average net worth has dropped by nearly 40% from 2007 to 2010. It is commonsense that this new report would be highlighted by the media in contrast to President Obama’s claim a couple days earlier that the “private sector is doing fine.”
Not the case for CBS. The network did not mention the Federal Reserve’s report on either its morning or evening telecasts. Both ABC and NBC did mention the report, but neither mentioned President Obama in their stories.
The politicians - of all flavors - insist on pretending that we, the citizens, are unaware of the "errors" or outright "lies" the media spreads.... and where those lies come from .
Op note: The media reports what they are PAID to report. Money buys the vehicle.. in most cases the payer decides the content. It has been this way since the late 1800's. How do we think we ended up with a privately owned central bank to whom we owe everything?
By the way.. this is not in the politics forum because this is not about partisanship. It's about how they "use" information... force it to say what they want it to say when it suits them... and distract us from it, when they can't.