As If Gov’t Spending Had Nothing to Do with It
This is how a front-page story by Lori Montgomery in January 27th’s Washington Post portrayed the cause of this year’s $1.5 trillion deficit:
Record U.S. Deficit Projected This Year
CBO forecasts tax cuts will push budget gap to $1.5 trillion
The still-fragile economy and fresh tax cuts approved by Congress last month will drive the federal deficit to nearly $1.5 trillion this year, the biggest budget gap in U.S. history, congressional budget analysts said Wednesday.
Federal spending and federal tax revenue play equally important roles in creating the federal budget deficit. In fact, the federal government, despite the recession and tax cuts, actually took in $123 billion more in taxes in 2011 than they did in 2009. Yet the Post blames the deficit only on inadequate tax revenue. Federal spending isn’t too high, the Post implies, tax revenue is too low.
This may not be an example of media bias. But it is an example of why supporters of limited government believe that major news organizations like the Washington Post are biased toward bigger government. At a minimum, the Post has some explaining to do.