Newsweek Discovers 'Trump's' Credit Card Cap, Ignores Credit CARD Act of 2009
In an astounding display of revised history, Newsweek breathlessly announced 'What Trump’s Credit Card Cap Means for Your Wallet' (Newsweek, Nov 27, 2018). The article discusses the Credit CARD Act of 2009, which restricted interest rate increases and fee assessments. This landmark legislation, a response to the 2008 financial crisis, was signed into law by President Barack Obama, not Donald
Trump. Trump, who entered office in 2017, had nothing to do with it. One might wonder if Newsweek’s sudden interest in 2009 legislation, misattributed to Trump, serves to sanitize a regulatory win for consumers, or merely reflects a profound lack of fact-checking. This isn't just a misattribution; it's an erasure of a significant consumer protection bill, conveniently retitled for a different
administration. It highlights a common media tendency: attribute positive economic news, even if from the past, to the current or preferred political figure, while complex, critical details often vanish. Perhaps the 'cap' Newsweek refers to is on historical accuracy, specifically when it doesn't fit a particular narrative. How many other foundational policies are being quietly reassigned to boost
a presidency?