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New Report Offers Grim or Grimmer Picture of Nation’s Long-Term Debt –

June 22, 2011

New Report Offers Grim or Grimmer Picture of Nation’s Long-Term Debt –

The Piper is about to get paid for all of that wonderful federal government spending…

Get ready for the tax bomb!

Gotta love you some progressive gubmint… ain’t it grand!

  1. Michael Eaton permalink
    June 22, 2011 2:46 pm

    Oh, dear. Fox? Did you hear, they crib the GOP talking points for headlines… Great journalism technique, two days after Stewart called them on it… Heh.

    They have a vested interest in focusing on the negative, guarantee that good news gets little air play on that channel.

  2. June 22, 2011 5:43 pm

    Mike, there is a reason why media outlets keep saying that every bit of economic news that keeps coming out day after day is… “unexpected“… because the good news is few and far between.. tell me again how its going to be a Summer of Recovery…

    It’s like pissing on people’s legs and telling them its global warming reduction fluid….. it’s good for them AND the planet….

    And Media Matters got FOX again eh? Well, I’m sure you and the four people who follow Media Matters must be beside themselves giddy again at their master sleuthing…. I see Media Matters continues to work on its kamikaze run to take down Fox News…. yawn…

  3. June 22, 2011 8:55 pm

    Oh, and I thought a little bit more about Mr. Klein’s observation that we can simply balance the budget by… letting the Bush Tax cuts expire (along with the Medicare Doc fix and ObamaCare being implemented).

    Here is another thought. Instead of increasing taxes, cut the spending by a corresponding amount that the CBO figured the tax increases would be taken from citizens. I’m no mathematician, but I’m pretty sure that would work too. And I”m thinking if we got rid of Medicare and ObamaCare, removing the federal government spending on those two unconstitutional programs, we could also find our budget deficit, and the overall debt, look a bit rosier.

    Meh. That’s crazy talk… 40% taxes, Medicare and Obamacare are all bed rock entitlements built on the American dream of perpetual government subsistence….

  4. James permalink
    June 22, 2011 10:48 pm

    Yep, no other network folks ever just repeat press releases or talking points from Democrats:

    Of course, Fox may have picked up the story directly from the CBO report, which was news for lots of folks, and committed the same error that Ryan’s release did – exchange deficit for debt – it seems to happen often and the error comes in the form of whatever slant your mind exists with. Mike sees that all the time as he repeats the talking points from the left and makes similiar errors, assuming he is even looking at the actual CBO reports and not just taking folks word for it. Still you would expect a media/news company to not be so damn sloppy about it.

    And I agree with Klein that discussions should should start (or nearly start) with that graph, but as the graph’s creator Mr. Frakt notes, the Democrats nor Republicans are rushing to embrace this notion…wonder why? For GOP probably because it sows a near balanced budget (not including debt service, which is huge) and for Dems because, to paraphrase Mondale and Blazin’ Saddles it “Taxes the S$%#! out of them…”

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