‘Healthcare Proposal Passed, Read by Just One Person’

To The Editor:
We, the American people, perceive ourselves as thoughtful and independent thinkers. Unfortunately, as technology increased, our oversight has been mainly transformed into whether you are a Democrat, Independent, or Republican.
The media, whether print or electronic, has mainly aligned their dissertations of events as commentators, not reporters. Newspapers and magazines in the past were the people’s watchdogs of the political landscape.
Every election cycle the politicians via commercials, one on one interviews, and local news coverage, explain that they are going to lower taxes, reduce spending, and fight corruption. How much have your taxes gone down in the last two years, five years, or ten years?
Over time, most of us have watched the 22-minute evening news broadcasts or local and national news. We were confident that we the people were informed on the important issues of the day.
Many years ago, I noticed that the three major networks essentially reported on the same stories almost in the same sequence. I noted that switching channels never once did the reporters disagree on a story or an issue.
Fast forward to the present, the financial crisis and healthcare are two issues; both should have been read and dissected by the media. It appeared ludicrous and ironic that the healthcare proposal was passed and read by only one person; the Democrats hired a speed-reader to quell comments that no one read the bill before passing.
The “town hall” meetings held by some politicians, none held by New Jersey representatives, Democratic or Republican. If an issue developed during a town hall meeting, every channel produced coverage and comment.
If the media did not wish to bother reading the healthcare proposal, why did not they invite politicians to at least divulge highlights of known elements, or report that the politician declined the invitation?
For almost a decade, the Social Security entitlement has been going broke and is unsustainable, then it was the Medicare Plan identified as unsustainable, so the wizards at foggy bottom remove $500 billion from the Medicare system, create a healthcare plan that adds 30 million people to a healthcare system, and project a cost of $970 billion that within 60 days of passage, the costs increased to $1.4 trillion.
Where was the media when Chairman Ben Bernanke agreed to fund the economy by turning on the money printing presses? I wish a prominent newscaster would ask Bernanke exactly what is the mission design for the Federal Reserve?
The second question; As a private bank, but federally chartered, whose primary mission was to standardize the currency while controlling the supply currency levels with the M 1, M 2 and (M3 was eliminated) who lends money to U.S. government?
If the government has debt approaching $13.5 trillion, at what point will the Federal Reserve deny Congress a request for additional printing of currency and bonds?
Fannie Mae and Freddie Mac have been promised another $200 billion to remain solvent and increase their portfolio. Where is the outrage about too big to fail, stimulus money for failed policies, and at what point, will the media or American people demand basic economics, not creative scheming?
During the “Financial Reform initiative,” our thoughtful leaders and media accepted the liabilities of sub prime and “toxic mortgages” to become assets.
I challenge the readers to go to a local bank and suggest that their accumulated debt, such as mortgages, car loans, student loans, credit card debt, become assets so that we can borrow 30 times our actual worth?
Can we learn from history? In 1930, President Hoover encouraged public sector spending for both states and federal government.
Running for president, FDR in the 1932 campaign, attacked the princes of property stating, “Growth will not provide for the poor, only redistribution of wealth can.
AL CROSSEN
North Wildwood