Monday, October 17, 2011

The GOP Lies, The Economy Suffers, And The Media Does Nothing About It

AmericaBlog: The Republican response to the President's radio address was an outright lie. Practically every credible expert, including economists on Wall Street even, agree that the stimulus did save/create jobs, boost GDP, and help cut back on unemployment. Everyone. But the Republicans keep outright lying and claiming the stimulus didn't do a thing. And the media just quotes them diligently and doesn't explain to the reader that it's a lie. WSJ:
Offering the Republican response, California Rep. Kevin McCarthy criticized what he called the continuation of a "stimulation strategy that's led to more debt and fewer jobs."
Both the CBO and Moody's concluded that the stimulus did work - the only problem was that it wasn't big enough, not that it was too big. Had we done what Kevin McCarthy is saying, we'd be in a depression right now - Moody's has already said the GOP plan won't work. But the President's stimulus, Moody's says it was absolutely worth it because it worked:
All this help comes at significant cost. While the fiscal stimulus has been vital, it helped produce a $1.4 trillion budget deficit this past fiscal year and will lead to another $1 trillion-plus deficit in the current one. Yet the cost to taxpayers would have been measurably greater if policymakers had not acted aggressively. The recession would still be in full swing, undermining tax revenues and driving up government spending on Medicaid, welfare, and other income support for distressed families. It is a tragedy that the nation has been forced to spend so much to tame the financial crisis and end the Great Recession. Yet it has been money well spent. The fiscal stimulus is working to ensure that the recent dark economic times will soon be relegated to the history books.
As for government regulations hurting jobs, AP concluded the other day that it too is a lie. This talk is dangerous.

And the lie grew worse over the past few months. As we pointed our previously, the new Republican talking pint, that I first hear on Fox, of course, is that the stimulus actually CAUSED the economy to worsen.

Outright lie. And the media still doesn't sufficiently call them on it. How about a story asking the Republicans why they think lying is an answer to our economic troubles? Why their party so easily, and willingly, embraces lies instead of facts? Reporters should be asking Kevin McCarthy if he's a liar, crazy, or just stupid.

This why our political system is broken. Because the checks and balances are broken too.

Read more @ AmericaBlog

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