Economic Terrorism
Business & Media Institute

MRC CyberAlert Documents Media Distortion Of Greenspan’s Social Security Remarks

     Federal Reserve Chairman Alan Greenspan told a House committee on Wednesday that the soon-to-be soaring number of retiring baby boomers will require that Social Security costs be reduced by slowing cost of living hikes and/or by raising the retirement age, but though Greenspan specifically said he favors making the Bush tax cuts permanent and strongly urged budget cuts over tax hikes to reduce the deficit, the NBC Nightly News distorted Greenspan’s testimony and targeted the Bush tax cuts, which they bizarrely labeled “Bush’s spending,” for blame. Without mentioning actual spending, Tom Brokaw listed as a problem the “big tax cuts the President is determined to make permanent.” David Gregory pointed to how “the President also wants to make his tax cuts permanent at an estimated cost of nearly $2 trillion over the next ten years.” more…