Sunday, February 26, 2012

Fox News Tries To Detract From Improving Economy

Conservatives have not reacted well to indicators of a gradually improving economy. Speaker John Boehner insisted, "We can do better." Rush Limbaugh is at a loss to explain. Rep. Trent Franks (R-AZ) refuses to give President Obama any credit.

Fox News first dismissed the news and is now trying to detract from it by suggesting that the real issue isn't economic growth and jobs but deficit reduction. This is the wrong prescription; the Congressional Budget Office has called the president's stimulus package a success, and Nobel Prize-winning economists Paul Krugman and Joseph Stiglitz have argued that the only problem with the package was that it was too small (read Krugman on the failures of austerity). In the following exchange, Fox's Tucker Carlson and Martha MacCallum insist that Republicans should make debt the issue of the campaign, in contrast to guest Christopher Hahn, who correctly argues that deficit reduction should wait until a more complete economic recovery:

(h/t: Media Matters)

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