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May 19, 2008

MSM Tries Redefining Recession as Up to 1.5% Positive Growth

If the numbers on the economy won't go sufficiently downwards, then, by golly!, we'll just have to raise the threshold for non-recessionary growth upwards!

Jesus they are just parodies at this point.

By the way, did you know that April saw record-breaking tax revenues despite the lower tax rates?

You probably didn't, because a recession-obsessive AP business writer failed to note April's bounty in order to focus-laser like on the fact that the net surplus for April fell from last year by ten percent (and last year was a record, by the way).

Now, of course, if the surplus declined despite revenues hitting record heights, that's because of increased spending, not decreased tax revenue.

But the AP doesn't want you getting confused into thinking that tax cuts may increase wealth as well as tax revenues so they omitted that fact and misleadingly suggested tax revenues were down. And, wouldn't you know it, the rest of the press followed that same storyline for the day.

Eddiebear.


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posted by Ace at 05:44 PM

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