At Work Correcting Economic Media Misinformation, Day after Day
Dean Baker provides an invaluable service. Everyday, he provides context on the latest news to correct the mountains of misinformation that is regularly fed to the American public. Information about all the times the Washington Post finds another way to justify why the tattered safety net has got to be cut more. Because, expecting to have a government that works for the public (and not the 1%) is evidently a sign of American delusion. And austerity in the face of deep rounds of unemployment can be used to dismantle the socialistic state that Obama is driving. One of today's posts is a perfect example of Baker's clear debunking the conventional wisdom.
The boys and girls at Fox on 15th Street are really getting excited over their hopes that the European welfare state might be dismantled. The third of paragraph of the lead front page article told readers:
"If adopted by other nations in the union, the deal would mean drastic cuts in European budgets. It would also spell the end of three decades of overspending that helped finance a cozy social protection system envied by much of the world."
But as Baker notes, the countries in Europe with the most generous safety net are also the ones in the best financial shape. And the fiscal problem started with the toxic asset bubble, hardly a problem that was created by a generous safety net.
The desire of the Very Serious People to get rid of the safety net can be seen every day in newspapers all over the land. So my here's my thanks to Dean Baker who provides consistent, timely and succinct corrections on the daily economic media watch which can counter the stream of misinformation that should definitely not be driving our politics or solutions.