Don't tell me you think that BORROWING Trillions is a good thing.
Tell me one bank that you could walk into and ask for a $100,000 loan when you are already near bankruptcy that would NOT laugh in your face.
Newsweek Hack Attacks President Obama, But Leaves Actual Facts On The Cutting Room Floor
ProudProgressive
2012/08/20 16:09:29
It's been many years since Newsweek could be called a bastion of journalistic professionalism, but of late they seem to be slipping closer and closer to the fantasy world of such smear sites as The Blaze and WorldNetDaily. This week the Right Wing, overjoyed at the mere thought of something that will distract the American public from the ongoing saga of Mitt Romney's tax problems, are drooling over a poorly researched and openly biased hit piece against the President from sometime "historian" and long time Right Wing mouthpiece, Niall Ferguson. Of course, Ferguson doesn't bother with "facts", but that has become the Right Wing norm.
Article excerpt follows:
Krugman Calls Out Niall Ferguson For Making Things Up
By Susie Madrak
August 20, 2012
Krugman is pretty ticked off at conservative historian-for-hire Niall Ferguson for a "plain misrepresentation of the facts, with an august publication letting itself be used to misinform readers." He wonders if Newsweek will call for an apology. (Yeah, I'm sure it's coming right up.)
In the past, Krugman has called the Harvard professor a "poseur" who, when it comes to economics, "hasn't bothered to understand the basics, relying on snide comments and surface cleverness to convey the impression of wisdom. It's all style, no comprehension of substance."
I have to agree. Ferguson's area of expertise is history, but frequently opines on economics, and has a long-standing feud with Krugman. As anyone who follows his frequent pronouncements knows, Ferguson is frequently wrong - and I haven't seen an apology yet. (Fun trivia fact: The Times reports that Ferguson encouraged Paul Ryan to run for president!)
There are multiple errors and misrepresentations in Niall Ferguson’s cover story in Newsweek — I guess they don’t do fact-checking — but this is the one that jumped out at me. Ferguson says:
"The president pledged that health-care reform would not add a cent to the deficit. But the CBO and the Joint Committee on Taxation now estimate that the insurance-coverage provisions of the ACA will have a net cost of close to $1.2 trillion over the 2012–22 period."
Readers are no doubt meant to interpret this as saying that CBO found that the Act will increase the deficit. But anyone who actually read, or even skimmed, the CBO report (pdf) knows that it found that the ACA would reduce, not increase, the deficit — because the insurance subsidies were fully paid for.
Now, people on the right like to argue that the CBO was wrong. But that’s not the argument Ferguson is making — he is deliberately misleading readers, conveying the impression that the CBO had actually rejected Obama’s claim that health reform is deficit-neutral, when in fact the opposite is true.
More than that: by its very nature, health reform that expands coverage requires that lower-income families receive subsidies to make coverage affordable. So of course reform comes with a positive number for subsidies — finding that this number is indeed positive says nothing at all about the impact on the deficit unless you ask whether and how the subsidies are paid for. Ferguson has to know this (unless he’s completely ignorant about the whole subject, which I guess has to be considered as a possibility). But he goes for the cheap shot anyway.
Read More: http://crooksandliars.com/susie-madrak/krugman-cal...
If I had been Barack Obama, the first words out of my mouth after taking the oath of office would have been these:
"Get Krugman here on the double."
I'm just sayin'.
http://www.tomdegan.blogspot.com
Tom Degan
http://www.politico.com/blogs...
Niall Ferguson Publishes Embarrassing Defense Of Newsweek Article
Niall Ferguson attacks Obama, poorly
Niall Ferguson is wrong about Obama’s foreign policy, too
http://www.businessinsider.co...
while I don't have GBTV or subscribe to his website, I do find it laughable you attached such a tag as "smear site"
case in point,
he's this week out at the Navaho Reservation helping to hand out food
maybe it's next week he will be there
but yaknow, I betcha Goerge would like Glen Beck
you heard of Goerge eh? he's the fellow that lives in a hut, obama brother
I heard obama talking about being "your Brother's Keeper"
proud progressive, did you know glen an bunches of volinteers filled semi trucks full of food an sent them out all over the nation.
some even found the places where in America you can be ticketed,or arrested for feeding the poor?.
like I said I stopped reading after I read "smear site"
and on a side note of sorts
Hi Gorge!
share your address Goerge,
and I'll send some venison Jerky
Tell me one bank that you could walk into and ask for a $100,000 loan when you are already near bankruptcy that would NOT laugh in your face.