Monday, May 07, 2012

Media Matters Daily Summary 05-07-2012

Fox Touts Failed Fiscal Austerity Measures
Fox's Stuart Varney claimed that the result of the French presidential election showed that French voters "want to go backwards" because they are saying "no more austerity." But experts have said that European austerity measures have not improved the economic situation and have warned against similar measures in the United States. Read More

Fox's Flawed Solution To The Economy: What Would Reagan Do?
Fox has attacked the economic recovery under President Obama by claiming that if Obama just adopted the policies of former President Ronald Reagan, there would be a stronger recovery. But as economists have pointed out, the Reagan recession ended not because of Reagan's fiscal policies but because the Federal Reserve drastically cut interest rates. Because interest rates are already at zero, such a rate cut is not a possible option now. Read More

Journal Miffed By Bipartisan Support For U.S. Wind Power
A Wall Street Journal editorial criticizes Republicans who support extending the federal Production Tax Credit, a key tax break supporting the U.S. wind power industry. The Journal suggests that wind energy will not become competitive with fossil fuels, but energy analysts say wind is approaching that point and that the expiration of the tax credit would slow or halt that progress. Read More

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