In recent weeks, some mainstream media figures and outlets have pushed outdated arguments for austerity and misguided calls for bipartisanship in covering the $1.9 trillion COVID-19 relief package — which is expected to clear Congress this week — putting the onus for GOP obstruction on Democrats and emphasizing debt and inflation concerns that economists say are unwarranted amid a historically devastating crisis.
Some in the media have emphasized the lack of Republican support for the relief bill, suggesting that Democrats should have done more to get GOP votes. Yet, the proposal -- which includes $1,400 stimulus checks, extended unemployment benefits, child allowances, state and local aid, and resources for vaccine distribution and health care -- has widespread, bipartisan support. According to a recent poll by Politico and Morning Consult, 76% of voters approve of the bill, including 60% of Republicans. Polls have also indicated that voters favor a strong relief package over a more targeted bipartisanship measure by roughly 2-to-1.
The conclusion that Democrats could have received GOP support also assumes that the Republican Party is objecting to the current bill in good faith, when the party has repeatedly demonstrated that it will prioritize partisanship and obstruction over valid compromise at the expense of Americans continuing to wait for aid.
Other media figures have used concerns about the debt and the threat of inflation to undermine the bill, a debate which was largely spurred by a February 4 Washington Post opinion column by former Obama economic adviser Larry Summers. He claimed that “the proposed Biden stimulus is three times as large as the projected shortfall” in the economy and warned that it “threatens future inflation and financial stability.” Many economists say these concerns are outdated in 2021, as opposed to in the late 20th century when inflation fears were more prevalent, suggesting that any rises in inflation can be controlled and will have a relatively small impact. They have also noted the U.S. has better tools and mechanisms for controlling inflation now, and Treasury Secretary Janet Yellen and Federal Reserve Chair Jerome Powell have echoed these points:
In a note released on Thursday, UBS economists led by Alan Detmeister stated that the stimulus probably wouldn't cause a surge in inflation, with any inflation effects “likely to be small." On Wednesday, Goldman Sachs economists led by Jan Hatzius also signaled a low possibility of inflation, estimating the US output gap is more than twice the size projected by the CBO, meaning that the hole in the economy that Biden is trying to fill is actually pretty close to $1.9 trillion.
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On a CNBC appearance later in February, Yellen said inflation has been “very low for over a decade, and you know it's a risk, but it's a risk that the Federal Reserve and others have tools to address."
Yellen's comments echo those of the current Fed chair, Jerome Powell, who sees a huge difference between now and the aforementioned 1970s. “Inflation has been much lower and more stable over the past three decades than in earlier times," Powell said this week in a speech to the Economic Club of New York. “In the 1970s, when inflation would go up, it would stay up," he said.
In addition to pushing concerns about the federal debt rising and leading to inflation, some mainstream media figures have suggested that recent signs for economic optimism, combined with spending from past stimulus bills, mean that the current stimulus package is too large and unnecessary -- effectively privileging austerity concerns over the communities still struggling during this time.
The jobs report and recent cautious optimism regarding vaccines do not mitigate the fact that the economy is still in dire shape compared to pre-pandemic times. Approximately 10 million people remain unemployed as of February, with an overall U.S. unemployment rate at 6.2%, and there’s evidence showing the economy may not return to pre-pandemic employment numbers for the rest of this decade. The last week of February saw another 1.2 million people apply for unemployment insurance benefits, and “continuing claims are currently nearly 16 million above where they were a year ago.”
Further, Black and brown workers who have been disproportionately impacted by the virus are facing similar disparities with the recession. The February jobs report showed that unemployment for Black workers increased from pre-pandemic levels to 9.9%, nearly 4.3 percentage points higher than their white counterparts. The disparities seen in the economic impacts of the pandemic are compounded by the unequal access to vaccines in Black and brown communities across the country, while these communities have been similarly hit hard by coronavirus cases and deaths.
Amid a crisis of historic proportions with a devastating impact, it’s imperative that the media properly convey the impact of the bill and the reality of the situation it's addressing. Yet some media figures and outlets are still consumed by prioritizing norms above all else, straining for bipartisanship and pushing outdated fears about the threat of government debt and inflation. Here is an overview of how they’ve pushed these concerns in coverage of the relief bill:
Calling out Democrats for “pushing” the bill through despite a lack of GOP support, emphasizing bipartisanship and unity
- A March 5 Washington Post article on the stimulus package began by emphasizing that “Democrats moved forward with no GOP support after failing to win over a single Republican senator.”
- The Associated Press published a March 4 article titled “Eager to act, Biden and Democrats leave Republicans behind,” which began by claiming that Democrats are “jamming their agenda forward with a sense of urgency, an unapologetically partisan approach based on the calculation that it’s better to advance the giant COVID-19 rescue package and other priorities than waste time courting Republicans who may never compromise.”
- CNN anchor Dana Bash asked Sen. Chris Coons (D-DE) to respond to a Republican accusation that it’s a “joke” that President Joe Biden tried to work with Republicans on the bill. After Coons explained that “the urgency of this issue means he's moving ahead,” Bash pressed further, saying that “talking is one thing and actually making concessions and doing deals on something like this is a different thing. And he’s saying there was no real effort on that. That’s fair, don’t you think?”