Thursday, February 28, 2013

a tale of two realities

OK, this one is for all the "That'll never happen" yowlers in the deficit-panic chorus.

The news is the deficit is shrinking, and at a fairly dramatic rate.

This information has been stealthiy lfloating around for a while. Rachel Maddow covered it last night, which means it might finally grow some feet.

From Dave Johnson, ,

This is understandably just as or more important than this silly sequester about to land on us supposedly driven by the overwhelming need to get the deficit under control

Right now, 62% of Americans think the deficit is rising, while 28% think it is crusing along basically unchanged. It's no wonder they don't know better, since the media narrative on this issue is driven by plutocrats and pickpockets.

I'm a little bit pleased to hear the news, but also spooked by it, because it shows that the electronic media, from NPR and PBS right on through FoxNews are nothing but a vast echo chamber for the political establishment inside the DC beltway.

The political establishment are the people who actually rule us. They do so at the pleasure of the people paying them, but they are the agents who carry out the policies.

It also shows that for most of us, what we see on TV is more real than reality. And that's a big scary.

Also, from Dave Johnson's (unattributed) chart, it's unclear whether the deficit is shrinking in absolute terms or whether it's simply growing more slowly than before. There's more research to do on this issue before the people's press can cover it right.

Johnson reports what he knows, that the deficit is getting smaller expressed as a percentage of the gross domestic product. I never trust that % of GDP stuff. It's an unnecessarily complicated way to express something, and leads to confused thinking.

We need more facts and less rhetoric! More light, less heat. More reality, less "As Seen on TV!"

1 comment:

Joe said...

If it's true,then it ought to confirm the notion that under Democratic prezes, the deficit tends to drop, with the opposite happening under Republicans.