Magog: Unguarded
Magog: Unguarded
Swarming Around... cats living with dogs... total chaos.

Thursday, May 01, 2003

The folks at the Media Research Center found considerable spin from the networks on Alan Greenspan's comments about President Bush's tax cut plan. Here's what Greenspan said:
"The elimination of the double taxation of dividends and significant cuts in higher marginal rates will elevate long term productivity in the country. If, however, in the process you get significant increase in deficits which induce a rise in long term interest rates, you will be significantly undercutting the benefits that will be achieved from tax cuts."

Here is a representative sample of how the networks interpreted that remark. This was Peter Jennings' spin on ABC:

"On Capitol Hill today, the Federal Reserve Chairman, Alan Greenspan, said again that large tax cuts may lead to a larger federal budget deficit and would not likely stimulate the economy. Mr. Greenspan said that any tax cut, such as the one sought by the President, need to be offset by tax increases in other areas or a reduction in government spending."

posted by the wolf | 1:15 PM
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