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| Media Refuses to Report April Budget Surplus |
| Sunday, May 08, 2005 |
If an important event occurs, and nobody reports it, did it happen?
Whether it's liberal bias or utter incompetence, Americans should, once again, be VERY concerned with the choices being made by our nation's press editors on a daily basis. Here's another extraordinary example.
On Monday, May 2nd, the U.S. Treasury Department announced that, due to a greater than expected influx of tax receipts around April 15, a projected monthly deficit actually became a surplus.
In fact, this influx was so large that the Treasury is going to actually buy-down or retire $42 billion worth of net debt in the second quarter. This would represent the first time that this has occurred since the second quarter of 2001.
As a result, government officials are reducing their deficit numbers for fiscal 2005 and into the future. Furthermore, as reported this morning by the Washington Post:
But in the short term, many forecasters said the budget deficit appears to have crested.
"I think it has turned the corner," said David Wyss, chief economist at Standard & Poor's, the credit rating agency. "My guess is 2004 will have been the worst year."
Now, one would think that the deficit being lower than expected, and the possibility that 2004 would be our worst shortfall during this cycle, would be front-page news, correct?
Yet, a Google-search indicates that no major media outlet picked this story up from Reuters on Monday. Not one.
From what I could find, other than Reuters, this story was promptly reported by MarketWatch and Web Pro News.
As for the Washington Post, although waiting three days, they did finally report this information to its readership -- in their section "E".
However, where was the rest of the media on this story? Isn't this news? It certainly was when Clinton was in office.
I guess that the only budget event that is newsworthy when a Republican is in the White House is when the deficit is growing...definitely not when it's shrinking!
How appalling.
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posted by J.R. @ 11:15:00 AM   |
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