Perhaps you’ve heard of the “fiscal cliff.” Actually – you have heard of it, and you probably believe that jumping off of it will cripple the United States for the foreseeable future.
I’m confident that you know this, because at every second of every day, almost every news outlet is screaming it at the top of its lungs. At the moment of this writing (11 a.m.), CNN has 5 stories on their home page with headlines including “No sign of progress” and “Conservatives rip Boehner.” The New York Times has Op-Eds and a section of their website labeled “Debt Reckoning” devoted to the issue. On the Wall Street Journal’s home page, there are three stories – including a link to a live feed that covers all things fiscal cliff, 24/7.
Yes, a live feed devoted entirely to the fiscal cliff and just how horrible life will be 27 days from now.
Let’s take a beat here and discuss reality. The fiscal cliff is real, but it simply isn’t news. Over the past few days lawmakers formulated, they debated, they may have even thrown up their hands in disgust. They didn’t reach an agreement. But they don’t have to yet, do they?
The media is using its megaphone to the wrong end. (more…)