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NYT Low Balls Stimulus Price Tag by $73 Billion

Reporting on President Barack Obama’s recent trip to Iowa, New York Times journalists Helene Cooper and Jeff Zeleny wrote on April 27th:

The president conceded that the rising level of the budget deficit “keeps me up at night.” But he extolled the benefits of the economic stimulus plan and took issue with his Congressional critics, who he said had tried to take credit for local projects even though they voted against the $789 billion measure last year.

President Obama’s stimulus may have only totaled $789 billion when Congressional critics voted against it, but its costs have increased since then. According to … Continue Reading

NYT Falls For China Banker Fallacy

Covering President Barack Obama’s trip to China a Helene Cooper, Michael Wines, and David Sanger by-lined piece in the November 14th New York Times begins:

When President Obama visits China for the first time on Sunday, he will, in many ways, be assuming the role of profligate spender coming to pay his respects to his banker.

That stark fact — China is the largest foreign lender to the United States — has changed the core of the relationship between the United States and the only country with a reasonable chance of challenging its status as the world’s sole superpower.

China is our … Continue Reading