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Home Publications Blogs Beat the Press Why Does a Q&A on the "National Debt Crisis" Appear in the Washington Post?

Why Does a Q&A on the "National Debt Crisis" Appear in the Washington Post?

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Thursday, 06 December 2012 14:28

Fans of reality will note that the immediate threat to the economy is the prospect of a sharp increase in taxes and cut in spending that will begin in the new year. How does this look like a "debt crisis?"A debt crisis is when no investors will buy your debt. 

The Post has to tone down the scare tactics in its push to cut Social Security and Medicare. It's slipping behind Fox News and the National Inquirer in the credibility category.

[Thanks to Michael Cushman for calling my attention to this one.]

Comments (6)Add Comment
did they change it? I don't see debt crisis, I see fiscal cliff
written by pete, December 06, 2012 3:49
anyway you missed an opportunity to again rail against the report of the Simpson Bowles Commision with the strangely worded:
"The commission proposed a series of spending cuts and tax increases so controversial that the panel itself failed to reach agreement on a plan"
ah I see the subtitle...sorry...gray letters...
written by pete, December 06, 2012 3:54
So actually the fiscal cliff is an anti-"debt crisis"...it is austerity up the yin yang.

...
written by Jay, December 06, 2012 6:42
Isn't it ironic that the CEO of the Washington Post has a son that is the executive producer of the Onion? Based on some the editorials and articles in the Post, you would think they were in competition with each other.
Mr.
written by carlyle, December 06, 2012 10:52
Few seem to realize that some large portion of every dollar of spending cuts is some portion of some ones pay check. The real value of paychecks has been declining for thirty or forty years and the last ten have been terrible for workers. Talking of spending cuts with forty two million Americans eligible for food stamps seems insane. There is a lot of talk about the debt but very little about our real problem of slow growth and continued unemployment.
Probably our problems will accelerate as dollars are taken from the economy and we will emulate southern Europe with despair and increased unemployment and public unrest.
Fear will cause at last the program that every one knows is needed but no one talks about because of the politics involved.
We will never recover as a vibrant economy until working Americans are refinanced with a huge increase in the minimum wage to drive wages up, a large increase in public espenditures for personnel and for infrastructure and a huge increase in taxes to pay for the things we need. It is time for a New Deal. The option is serfs, cops and truncheons.
...
written by urban legend, December 06, 2012 11:25
Best bet for improving reporting accuracy about the "fiscal cliff": keep pounding the Post with the perfectly correct taunt, "If you're worried about the fiscal cliff, you are a Keynesian."
Debt crisis is when no one will buy your debt?
written by Bill H, December 07, 2012 11:03
Well, it could actually be when you owe more than you can pay. For a government that would be when payments on the debt become burdensome. The US doesn't fit that definition either, but...

Sometimes your definitions seem a little arbitrary,

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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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