Numbers released yesterday by the Bureau of Economic Analysis show that the U.S. economy grew by a 6.9% annual rate from October to December 2021 and 5.7 percent for all of 2021. That’s the fastest full-year growth since 1984. The U.S. economy also added 6 million jobs in 2021, bringing the unemployment rate below 4%. This growth is the outcome of dramatic changes in economic policy initiated by the Biden administration through measures like the American Rescue Plan and the bipartisan infrastructure law. Pay for workers is also growing.
Nonetheless, the mainstream media continue to downplay the extraordinary success of the economy, the Biden administration, and Democratic policies. Instead, they focus on the negatives. The Washington Post ran a story that began: “Even as the U.S. economy grew at its fastest pace in decades in 2021, the recovery has more recently flashed troubling warning signs, with soaring inflation, whipsawing financial markets and slowing consumer spending complicating the rebound.” What a surprising way to introduce a story on the best economic growth since 1984! The NY Times story’s headline was “Growth is surging in Biden’s economy. Why don’t voters feel better?” The answer is because the mainstream media aren’t reporting all the good news and even when they do, they highlight a negative spin! Read more at Heather Cox Richardson’s “Letters from an American” blog post of January 27 here: https://heathercoxrichardson.substack.com/p/january-27-2022
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Just this morning I was pointing out to Rich how a headline in the Times skewed the facts on the economy. Those greedy so and so’s sensationalize to sell their paper. Up early to shovel tomorrow?😵💫 Carolyn Sent from my iPad
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Carolyn, Yup. Our corporate media are more interested in sensationalism and negativity that will grab attention and eyeballs (i.e., generate profits) than accurately reporting the news. By the way, I didn’t see ANYTHING in the Boston Globe on the good economic news! So much for the media being “liberal”. They’ve been undermining the Biden Administration and Democrats every step of the way. For example, they report that Democrats couldn’t pass the voter protection bills without reporting that every Republican in the Senate opposed protecting voting rights! Yes, it looks like it makes sense to wait until tomorrow to tackle the snow, but it sounds like there’ll be lots of it, so it’ll be good to get an early start. Stay safe and warm during the blizzard – and let’s hope the power stays on!