Dana Milbank: Jamie Dimon Is an Expert on the Impact of the Debt on the Economy

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Dana Milbank: Jamie Dimon Is an Expert on the Impact of the Debt on the Economy

Friday, 15 June 2012 15:50

Those of you who thought that Jamie Dimon, JP Morgan's CEO, was only good at blowing billions of dollars in risky bets, will be surprised to discover that he is also an expert on the impact of the government debt on the economy. That at least is what Dana Milbank would have us believe.

Milbank commented that President Obama is:

"hoping to limp to a second term without addressing the looming debt crisis — which, as JPMorgan Chase’s Jamie Dimon told Congress this week, has contributed to today’s economic malaise."

Hey, if Jamie Dimon says it, it's got to be true.

This diatribe stood out even by Washington Post standards. The headline, "skip the falsehoods, Mr. President, and give us a plan," essentially calls President Obama a liar because he won't cut Social Security and Medicare as Milbanks wants.

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Public debt vs. public ingratiation
written by David, June 15, 2012 4:45

Milbanks is clearly jockeying for the position of Publicist/Apologist Of The JP Morgan Executive Council.

Dana Jumped the Shark in 2010
written by Paul, June 15, 2012 5:04

The only way that the federal debt has contributed to economic malaise is the continuous MSM disinformation campaign about it. How can anyone rationally be concerned about the federal debt when interest rates on 10 year Treasuries are at 60 year lows?

In the first year of the Reagan Admin., rates on the 10 year Treasury hit 15.32% and nobody was complaining about the debt. Gee, I wonder why?

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About Beat the Press

Dean Baker is co-director of the Center for Economic and Policy Research in Washington, D.C. He is the author of several books, his latest being The End of Loser Liberalism: Making Markets Progressive. Read more about Dean.

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