Media ‘conventional wisdom’ is always wrong

Posted by AzBlueMeanie:

Talking Points Memo borrowed a page from Paul Krugman and published this chart showing the rate of change in real government spending (federal, state and local) per capita.

It is accepted as "conventional wisdom" among the media villagers and Beltway bloviators that government spending has exploded and is out-of-control under President Obama, with the "lamestream media" rotely repeating the GOP talking points spoonfed them without any concern for the truth. As a result, the media is badly misleading the public.

Despite what everyone thinks they "know," as Paul Krugman wrote on Monday, the Tea-Publican Congress has effectively forced European conservative austerity on us, and it's holding back the U.S. economy.

Economics 101 teaches that governments boost public-sector employment and inject more capital into the economy during an economic downturn caused by too little demand.

Tea-Publicans have done the exact opposite — laying off public-sector workers and taking capital out of the economy.

Why does anyone continue to listen to these dangerously incompetent fools?

h/t Steve Benen