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Home Publications Blogs Beat the Press Washington Post Froths Over Deficits Again

Washington Post Froths Over Deficits Again

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Tuesday, 31 August 2010 06:56

This time it is in UK. It begins an otherwise good article about how proposed budget cuts will disproportionately hit women with the line: "as Britain prepares for the deepest budget cuts in generations to tackle a crippling mound of public debt."

How has it been determined that Britain faces a "crippling mound" of public debt? Certainly the markets have not made this determination since they are still willing to lend money to the UK at very low interest rates. This is simply the view of the writer and or editor, not a fact in the world.

A real newspaper would write: "as Britain prepares for the deepest budget cuts in generations to reduce its public debt." This increases accuracy and saves words.

Comments (11)Add Comment
...
written by dejuan, August 31, 2010 8:29
You know, markets were also willing to lend subprime borrowers money at very low interest rates. Maybe Mr. Baker should step back and take a look at reality.
...
written by izzatzo, August 31, 2010 8:37
Certainly the markets have not made this determination since they are still willing to lend money to the UK at very low interest rates.


Spoken like the drug dealer who keeps his victims on the addiction hook with low prices, the same way the nanny government uses Keynesian economics to bait and switch the unemployed with deceptively cheap stimulus spending, then send them to their economic graves when it's time to pay the piper.

There's no free lunch Mr Nanny. You've been reported to the DEA for violating the DARE program, Deficit Abuse Resistance Education.

Stupid liberals.
Washington Post's "crippling mound" of crap causes thinking to seize up and stop.
written by Scott ffolliott, August 31, 2010 1:40
Washington Post's "crippling mound" of crap causes thinking to seize up and stop.
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written by DB Reader, August 31, 2010 2:18
Are the budget cuts expected to produce a surplus this year? If not, then the cuts will only reduce the yearly deficit. The public debt will still grow.
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written by AndrewDover, August 31, 2010 6:33
The Washington Post....
written by libhomo, August 31, 2010 9:16
...part of the Shock Doctrine Media Network.
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written by Joe Emersberger, August 31, 2010 9:29
Hi Dejuan

Dean Baker was talking about the unsustainability of the housing bubble when the "markets" including free market fanatics like lan Greenspan were denying that it existed. When journalists at the WAPO - who also missed the 8 trillion dollar bubble - declare anyone's public debts "crippling mound" we should take their assertions with several buckets of salt.

Do you know the UK net poublic debt level as a % of GDP and how it compares to historical levels? Have you explored the extent to which the porposed budget cuts are merely making the general public pay for a crisis created by elite investors?
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written by John Sullivan, September 01, 2010 5:23
@izzatzo
Ugh, God save us from bores whining about the 'nanny state' and 'stupid liberals'. The only nanny state is that of the wealthy propped up by the wealth CREATTING classes.
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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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