Wednesday, December 9, 2009

When all else fails, fan the flames of hysteria

WaPo's Michael A. Fletcher must live in a different world - I'm wondering if he's flagrantly flogging the administration line on reusing TARP money for job creation or if the world is really a darker place than I realize.

Fletcher can't keep the copy-crack of hyperbole out of his leads this week regarding overselling the bad economy angle. Unemployment fell for the first time in almost two years and Fletcher didn't get the memo - that's all I can figure. 

His article Tuesday referred to "one of the biggest threats to the economy and to his administration: the soaring unemployment rate."

Soaring - Okay, I guess a bird can soar even if it's just maintaining altitude, but when earth-bound mortals use the word, it conjures a ascent into the higher altitudes.

If I'm soaring, I'm not leveling off and enjoying the view, damn it. I'm going higher!!!

Today he doesn't quit, but appears to continue flogging the president's "response to the nation's intensifying job crisis."

Hm.  Crisis, yes. Intensifying?

WaPo's editorial board seems to be tracking current events.

The problem is all too real: The unemployment rate is lower than it was a month ago, but still -- at 10 percent -- far too high. Yet the federal deficit, which hit $1.3 trillion for fiscal 2009 and is projected to be about the same in fiscal 2010, is outside the comfort zone as well.

And the Associated Press - as printed in the Post:

Under law, any paybacks to the bailout known as the Troubled Asset Relief Program must be used to reduce the deficit. But in an economic speech on Tuesday, the president sought to have it both ways. Increased repayments from banks to the Treasury will reduce the deficit all right, but it will give Congress the budgetary room to spend more - and the president encouraged just that.

I have an idea I'd like the administration to try - stop spending imaginary (borrowed (Chinese?)) money we don't have.  When you find yourself in a hole, stop digging.

The Tick

"Gravity is a harsh mistress!"