There is only one reason the Debt Crisis could present a problem. That would be if the media allows it to. The United States of America borrowed money. Folks loaned the money based on the good faith and credit of the United States of America. As a responsible country, we do not have the option but to pay our bills.
The media has enabled the lunatics on the Right into the mainstream of political thinking, mostly for theater and ratings. That is what one gets when the press and news is nothing but a profit center. The same titans of finance that now own our media, our press, and our sources of news distribution may now be panicking. After all, what the Right Wing is intending to do to the country will materially affect the bottom line of the corporations that own these media outlets.
Today on NBC’s Meet The Press, David Gregory finally gave an interview worth watching as he interviewed GOP Senator Mitch McConnell. He allowed McConnell to show his unwillingness to compromise by confirming he intends to have no more revenues on the table. He says this is a country where 60% of the income is “earned” by 20% of the population and 90% of the financial wealth is owned by 10%.
I interviewed President Clinton’s Secretary of Labor Robert Reich about his book Aftershock – The Next Economy & America’s Future a few months ago. I remember feeling a sense of despair after that interview because the solutions we need to go through, not only for recovering from the collapse, but moving forward with job creation, wealth creation, and fairness were all found in his words, and they are some of the same words the President uses. It is codified in the Peoples’ Budget. Yet, very little coverage is given likely because of the entrenched bias against middle class based policies by the media, due to their fear of the collusion between the corporatocracy and the Right.
Luckily for the middle class in this case, the interest of the corporations are now also at stake. During the upcoming debate on the debt debacle, one should expect the media to stop using its false sense of equivalency when addressing the Right Wing lunatics that would take this country down.
Jason Linkins of The Huffington Post wrote the article “Debt Ceiling Crisis 2013: The Media Needs To Be Trained” that caught my eye.
The author correctly states the “cavalierness” with which the media has been covering the debate and the need for them to get educated on the real perils of the Right fringe. What the author does miss, however, is that since this event will not just hurt the middle class but the core of the plutocracy, the media will be summoned to report appropriately.