Kathianne
09-23-2010, 05:32 PM
As the blog points out, most of us here aren't shocked, but that doesn't mitigate the problem:
http://hotair.com/archives/2010/09/22/big-medias-biggest-failure/
Big media’s biggest failure?
posted at 10:25 pm on September 22, 2010 by Karl
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Credit Michael Kinsley for a little honesty:
I’m sitting here in a pile of reports and studies by think tanks, public-policy schools, the Office of Management and Budget, and self-appointed grandee fiscal crusaders. They all make the same, tiresomely familiar point: that this can’t go on. ***
There are a dozen ways to look at the national debt and the annual government deficit, and they all lead to varying degrees of panic. What’s especially scary about our fiscal situation is that everybody knows the facts and concedes the implication, but nobody is doing anything about it ***
And the national debt is just a fraction of the problem. State and local governments, unlike the national government in Washington, cannot print money, and many states have constitutions that forbid them to run a deficit. Nevertheless, they will be losing, together, about $140 billion this year. ***
Debt is everywhere you look. Here’s a short inside piece in The New York Times Magazine about state and local unfunded pension obligations for retired employees. They add up to between $1 trillion and $3 trillion. Until that article, I had given no thought whatsoever to shortfalls in state employee pension funds. You?
Well, yeah. And Matt Welch points out that Reason magazine has been all over the problem. And if you’re reading a conservative blog like this, you probably knew about it from Reason, or the Weekly Standard, or the American Spectator, Fox News, City Journal, the CATO Institute, National Review, the Heritage Foundation, Rush Limbaugh or any of the other right-leaning media that have been discussing it for years, but prominently for about a year...
Lots of links and much more commentary, especially regarding the debt, the media's ability to hide it and the politicians increasing it. Needless to say, quite a bit on Tea Parties here.
http://hotair.com/archives/2010/09/22/big-medias-biggest-failure/
Big media’s biggest failure?
posted at 10:25 pm on September 22, 2010 by Karl
printer-friendly
Credit Michael Kinsley for a little honesty:
I’m sitting here in a pile of reports and studies by think tanks, public-policy schools, the Office of Management and Budget, and self-appointed grandee fiscal crusaders. They all make the same, tiresomely familiar point: that this can’t go on. ***
There are a dozen ways to look at the national debt and the annual government deficit, and they all lead to varying degrees of panic. What’s especially scary about our fiscal situation is that everybody knows the facts and concedes the implication, but nobody is doing anything about it ***
And the national debt is just a fraction of the problem. State and local governments, unlike the national government in Washington, cannot print money, and many states have constitutions that forbid them to run a deficit. Nevertheless, they will be losing, together, about $140 billion this year. ***
Debt is everywhere you look. Here’s a short inside piece in The New York Times Magazine about state and local unfunded pension obligations for retired employees. They add up to between $1 trillion and $3 trillion. Until that article, I had given no thought whatsoever to shortfalls in state employee pension funds. You?
Well, yeah. And Matt Welch points out that Reason magazine has been all over the problem. And if you’re reading a conservative blog like this, you probably knew about it from Reason, or the Weekly Standard, or the American Spectator, Fox News, City Journal, the CATO Institute, National Review, the Heritage Foundation, Rush Limbaugh or any of the other right-leaning media that have been discussing it for years, but prominently for about a year...
Lots of links and much more commentary, especially regarding the debt, the media's ability to hide it and the politicians increasing it. Needless to say, quite a bit on Tea Parties here.