Paul Krugman cuts to the chase: Why does the media pretend that bullshit political posturing is fact

[UCmeNdc]

Paul Krugman cuts to the chase: Why does the media pretend that bullshit political posturing is fact?

Remember all the dire warnings about what would happen if China stopped buying our debt, or worse yet, starting selling it? Remember how interest rates would soar and America would find itself in crisis?

Well, don’t tell anyone, but the much feared event has happened: China is no longer buying our debt, and is in fact selling tens of billions of dollars in U.S. debt every month as it tries to support its troubled currency. And what has happened is what serious economic analysis always told us would happen: nothing. It was always a false alarm.

Beyond that, however, it was a fake alarm.

If you looked at all closely at the plans and proposals released by politicians who claimed to be deeply worried about deficits, it soon became obvious that they were just pretending to care about fiscal responsibility. People who really worry about government debt don’t propose huge tax cuts for the rich, only partly offset by savage cuts in aid to the poor and middle class, and base all claims of debt reduction on unspecified savings to be announced on some future occasion.

And once fiscal scare tactics started to lose political traction, even the pretense went away. Just look at the people seeking the Republican presidential nomination. One after another, they have been proposing giant tax cuts that would add trillions to the deficit.

http://crooksandliars.com/2015/10/paul-krugman-its-all-benghazi

[underpants]

1. Drama

News doesn't do news anymore they sell drama. That's why they kept the GOP alive after 2006 and 2008 and oversell 2010.

[unblock]

2. ever since reagan, republicans have been the deficit-loving party of fiscal irresponsibility

the media continues to let them get away with the lie.

they only even really pretend to care about the deficit when they're not in a position to raise it on their own terms. and then, the only reason they want a surplus when democrats are in charge is so that they can loot it when republicans are in charge.

[hifiguy]

3. He knows as well as we do.

The owners of the media want it that way to push corporatist talking points.