President Obama delivered a speech this afternoon on the state of the economy. Coming just a month before the critical midterm election, it was a significant opportunity to communicate the facts that Americans need to know prior to voting. So of course, Fox News was the only cable news network to fail to broadcast any of the address live.
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The blatant editorial bias of Fox News validates a small portion of Obama’s speech wherein he mentioned the network that would refuse to air his remarks. He said…
“There’s a reason fewer Republicans, you hear ’em running around about ObamaCare. Because while good, affordable health care might seem like a fanged threat to freedom of the American people on Fox News, it turns out it’s working pretty well in the real world.”
Exactly. And that’s why Fox decided that they must not alert their sheltered and frightened viewers to the reality of a nation that has come a long way since the Bush administration put it on a path to economic collapse. While there is still some ways to go, anyone with a clear perspective recognizes that we a have made astonishing progress in the past six years.
Polls, however, do not reflect the positive results we’ve seen. Perhaps people need to be reminded of the days when the stock market lost half its value, dropping thousands of points and bankrupting iconic institutions like Merril Lynch, AIG, and Bear Stearns, The auto industry was on the brink of total failure and had to be bailed out with federal funds. The country was losing 800,000 jobs a month, and more Americans than ever were losing their homes to foreclosure. Plus, we were still mired in two costly wars that were off the books and not reflected in our deficit.
This year the stock market continues to reach new all-time highs. Corporate profits are breaking all previous records. The unemployment rate has declined from a high of 10% to 6.1%, while jobs are being created at more than 200,000 per month. The auto industry is back in the black, as is home construction and retail sales and services. The annual deficit has been cut by more than half. And with the passage of the Affordable Care Act (aka ObamaCare), health care costs are rising at record low rates, while Americans are getting coverage in greater numbers than ever. With stats like those how can anyone plausibly say that we are not better off now than in 2008?
We could be doing more, but for the obstructionism on the part of Republicans who fear that any more good news will harm their ability to fool Americans into voting for them. We should be raising the minimum wage to put more buying power into the hands of working people. We should be embarking on an infrastructure rehabilitation that will not only create jobs, but enhance the economy by improving transportation and safety. And we could pay for that with a modest increase in the top tax rates for wealthy individuals and corporations who are enjoying some of the best economic times of their lives.
The President’s speech is well worth reading as it lays the foundation for the road ahead. It also puts into perspective the path we’ve just traveled and the hardships we’ve endured and prevailed over. You didn’t see this speech on Fox News because it conflicts with their mission to disparage Obama at every opportunity and smear him and his policies with lies. And the last thing Fox wants before an election is for voters to get a realistic view of the state of the nation. Because if the American people were better informed there would be very few Republicans celebrating on November 5th.