Why Is CNN Pimping for Billionaires Against Social Security? - FDL

[WillyT]

Why Is CNN Pimping for Billionaires Against Social Security?
By: Scarecrow Friday April 9, 2010 10:46 am

<snip>

For months there has been a concentrated effort by the Pete Peterson Institute to create public hysteria over federal budget deficits and the public debt. These efforts have chilled efforts to provide sufficient economic stimulus and provide additional funds to states and localities to avoid further layoffs, and they threaten to halt further efforts to drag the economy out of the Great Recession.

But Peterson’s real targets are Social Security and Medicare/Medicaid.

As Dean Baker reminds us, Peterson has already succeeded in getting the Washington Post to run Institute propaganda and numerous deficit hysteria "articles" as front page news, and then pivot to attack "entitlements." Now CNN is giving Peterson’s crowd two hours of free air time this weekend to give us more of the same propaganda.

Time to Call out CNN. The folks at Campaign for America’s Future are mounting a campaign today to convince CNN either to stop airing Peterson prograganda for free and/or to give credible economists an equal opportunity to debunk Peterson’s dangerous attacks on Social Security and deficit spending during recessions. From CAF’s Roger Hickey:

This weekend, CNN is giving four hours of free airtime to the leading propagandist fanning the flames of deficit hysteria, Pete Peterson, along with his lackeys. Bloggers and online activists are joining today to promote this action:

Click here to demand CNN stop giving free airtime to deficit crazies this weekend – And if they do go ahead with this programming, tell them to provide balance to Pete Peterson’s deficit hysteria. Give equal time to defenders of Social Security, Medicare and public investment.

CNN plans to air Peterson’s thoroughly debunked propaganda movie "I.O.U.S.A," – and then his acolytes will have free reign to spread their usual lies about Social Security, Medicare and government in general without any fiscal expert to challenge them and give a different point of view.

How do we know? Because CNN did the exact same thing with "I.O.U.S.A" last year. No debate. Just Peterson’s propaganda.

Is this how "the most trusted name in news" should cover the debates on retirement security, job creation and fighting poverty?

We have just one day to get CNN to balance it’s programming.

Peterson’s efforts have already induced the Obama Administration to create an "independent commission" to recommend changes in Social Security and Medicare, and then to stack the commission with too many political hacks who have little problem undermining America’s economic safety net while protecting the most wealthy from higher taxes.

And what else is at stake? Think Greece. Here’s Krugman on what lessons their predicament has for us:

But what are the lessons for America? Of course, we should be fiscally responsible. What that means, however, is taking on the big long-term issues, above all health costs — not grandstanding and penny-pinching over short-term spending to help a distressed economy.

Equally important, however, we need to steer clear of deflation, or even excessively low inflation. Unlike Greece, we’re not stuck with someone else’s currency. But as Japan has demonstrated, even countries with their own currencies can get stuck in a deflationary trap.

What worries me most about the U.S. situation right now is the rising clamor from inflation hawks, who want the Fed to raise rates (and the federal government to pull back from stimulus) even though employment has barely started to recover. If they get their way, they’ll perpetuate mass unemployment. But that’s not all. America’s public debt will be manageable if we eventually return to vigorous growth and moderate inflation. But if the tight-money people prevail, that won’t happen — and all bets will be off.

If you want to join CAFs efforts to call out CNN, here’s the link: http://action.ourfuture.org/p/dia/action/public/?action_KEY=84

Link: http://seminal.firedoglake.com/diary/39851

Yeah... I caught a few minutes of that today. Pretty bad...

And of course now that the Boomers are about to start drawing their SocSec in major numbers, the powers that be are having fits.

:shrug:

[Richard Steele]

1. CNN is the new FOX. K&R

[monmouth]

2. How I miss Ted Turner. Wonder what he thinks of the demise

of his (at one time prized) CNN. Very sad.

[WillyT]

3. Me Too... Didn't He Try To Buy It Back At One Point ???

:shrug:

:hi:

[WillyT]

4. Kick !!!

:kick:

[galileoreloaded]

5. Necessity truly is the mother of all invention. n/t

[caty]

6. There are millions

of people who either get, or plan on getting, Social Security, Medicare, and Medicaid that I really doubt if they would ever end these programs. There would be such an out cry over an action like that and the party that tries will be damaged forever.