Thursday, February 14, 2008
I Won't, But Hank Paulson Will
by Ken Houghton
UPDATE: My Loyal Reader suggests that the caption should have read "praise" not "raise." Certainly that makes intuitive sense give the opening statement, which uses neither word but does declare, the evidence notwithstanding:
There are a lot of words there, so the chance of there being more lies than words is near zero. But it is likely that the caption should have read "praise."
Anyone have a screen shot?
Biggest lie of the day, as printed by CNBC "Breaking News":
PAULSON: Congress deserves raise for passing the stimulus package.
UPDATE: My Loyal Reader suggests that the caption should have read "praise" not "raise." Certainly that makes intuitive sense give the opening statement, which uses neither word but does declare, the evidence notwithstanding:
Four weeks ago, recognizing the downside risks to our economy and that the short-term cost of doing nothing was too high, President Bush called for an economic growth package to provide a temporary boost to our economy as we weather the housing correction.
The Congress responded with bipartisanship, cooperation and speed to pass an economic growth package that is temporary, broad-based and will assist our economy quickly. We have demonstrated to the nation and the world that we can come together to address the needs of the American people as we weather the housing downturn.
Yesterday, the President signed the economic package into law and Treasury is already working to send payments out to more than 130 million American households.
The IRS will manage the current tax filing season and simultaneously prepare to issue these additional payments starting in early May. Payments will be largely completed this summer, putting cash in the hands of millions of Americans at a time when our economy is experiencing slower growth. Together, the payments to individuals and the investment incentives for businesses will help create more than half a million jobs by the end of this year. [emphasis mine]
There are a lot of words there, so the chance of there being more lies than words is near zero. But it is likely that the caption should have read "praise."
Anyone have a screen shot?
Labels: Economics, governance, principal/agent problems
