Now Fox "News" and Cheney Say That, "Deficits Do Matter"

A not so long time ago, Vice President Dick Cheney said the following about national debt, deficits, and federal spending, "DEFICITS DON'T MATTER."

Well, now Fox "News" relentlessly tells its audience that "DEFICITS DO MATTER!"
In the past, Fox "News Alerts" have consisted of scaring viewers about supposed terrorist threats, Latinos as a menace to Americans by way of "illegal" immigration, frightening people about the Muslim religion, etc.

And Fox has a new, "WEAPON OF MASS DESTRUCTION AND FEAR."
This new tool will put its audience into a panic, thinking that the sky is falling, NOW! They have rolled out what looks like a humongous, gigantic running tally board of the national debt and counting! In fact, Fox "News" recently rolled out this board of numbers in all of its flashy red lights and panic, while interviewing Republican lawmaker, Schweikert (see above) about guess what? The "deficit," and that scary "NEWS ALERT" scrolled across the bottom of the screen to add more fear and concern to this issue.

A few facts for the Fox "News" sloppy, lazy, and deceitful research staff.
According to Forbes.com, at the beginning of Bush Jr.'s presidency, the national debt as a percentage of gross domestic product (GDP) stood at 60%. By the time his presidency ended, it was closer to 80%. Forbes further explained that because of economic turmoil in 2008, and necessary government intervention in the markets, this ratio would continue to rise, under President Obama.

Fox, can you guess under who's watch, the ratio of debt to GDP was highest?
Tic toc, tic toc, tic toc, times up! Per Forbes.com, it's your king of kings, your savior and staunch deficit hawk; Ronald Reagan, when the deficit peaked at 120% of GDP! Yes, can you believe it? Now let's put it in on the big deficit board in studio! OK, maybe not.

Now, Cheney says that "deficits do matter." I wish he'd make up his mind.
As quoted in Forbes.com:"I think the budgets he (Obama) submitted are way out of whack. I think what it does not only to the short-term deficit but long-term debt situation is very objectionable. I think the notion that we're going to get to a point where the debt equity ratio for the country's going to be, what, over 50%, 60%? I've even seen 80% at the end of a 10-year period of time."

Yes, Republican hypocrisy seizes to amaze.

Sources:
http://www.forbes.com/2009/08/04/deficits-spending-gdp-intelligent-investing-cheney.html

http://www.youtube.com/watch?v=3PmVetAAVvA&feature=channel_video_title