Ignoring Growth, Eyeing Gas Gauge(MSM Naysayers)

Real Clear Politics ^ | May 06, 2006 | Noel Sheppard

[kellynla]

The big economic news going into the weekend was the strongest quarterly gross domestic product growth since the summer of 2003. Spectacular news by any measure, but you wouldn’t know it from the way the media reported it. NBC’s David Gregory quickly dismissed the significance of the strong report on April 28: “But with gas prices also surging … the country isn't celebrating.”

ABC’s “World News Tonight” decided to delay its discussion of this good news to inform viewers about conservative talk radio host Rush Limbaugh’s “arrest,” while the CBS “Evening News” didn’t bother reporting GDP data at all on the April 28 show.

The New York Times quickly downplayed the news by stating the economy will soon be “slowed by high energy prices, rising interest rates and a softer housing market.” And, The Washington Post poured cold water on the announcement by quoting a leading Democrat who said of these numbers that this was “‘cold comfort to working Americans faced with the reality of struggling to pay their bills.’”

None of this should come as a surprise. It’s actually a trend the Free Market Project has followed, which has shown the media downplaying strong numbers while playing up weaker reports.

Despite the negative media coverage, the economic news was striking. As reported by Bloomberg: “The U.S. economy expanded in the first quarter at an annual pace of 4.8 percent, the fastest in more than two years, led by resurgent consumer spending and the biggest jump in business investment since 2000.” Coming after the disappointment of hurricane-impacted low growth at the end of 2005, this should have been welcome news.

Unfortunately, the media didn’t see it that way.

[kellynla]

Is anyone surprised? LOL

[VeniVidiVici]

No. But what they fail to point out is that with Patches off the streets there should be ample supplies of methanol now.

[SouthTexas]

And you wonder why people cannot see the good in the economy? The media only portrays the bad, or worse yet, either ignores it or spins it to insignificance.

[expat_panama]

...people cannot see the good in the economy? The media only portrays the bad...

Maybe it's not 'people', but democrats.  My take is that most people vote republican in spite of what the old press says, because people don't believe the old news media anymore.   I say let's not argue with success, the American electorate has got good sense.

[SouthTexas]

You may be right, I would just be happy if they picked ONE day out of the week to report the truth. I know, it's just wishful thinking. ;)

[expat_panama]

It may be that more truth is being reported than spin, when you take into account talk radio and internet posts.  We're never going to see TV broadcasts and print press come clean, even with glimmerings of sanity from the likes of FOX and the Washington Times.  It's the entire old news institution that being phased out. 

We're watching TV news go the way of the old town-criers that nobody sees anymore.

[driftless]

Whenever the economy posts high numbers, the networks and the "experts" always say "higher than expected". Which means they are grinding their teeth watching the huge numbers and wishing it weren't so. Doesn't the Bush admin know that the only way to run an economy, according to lib economic "experts", is to TAX, TAX, TAX!!! your way to economic success (laugh). So they have to pour cold water on it, something they didn't do when Clinton was prez.

I would strongly bet that all libs reject the Laffer Curve and stoutly refuse to believe in letting the market run itself with as little interference from the gov as possible.

[SouthTexas]

I would love to believe that and every once in a while, I am surprised by the response of the American people, just not often enough.