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Politics : American Presidential Politics and foreign affairs -- Ignore unavailable to you. Want to Upgrade?

To: sandintoes who wrote (24393)	1/2/2008 1:49:22 AM
From: Peter Dierks	Read Replies (2) \| Respond to of 71588

The Media’s Top 10 Economic Myths of 2007 Compiled by the Business & Media Institute See Full Report (http://www.businessandmedia.org/specialreports/2007/toptenmyths/mediamyths.asp) -------------------------------------------------------------------------------- 10. Airlines are solely to blame for the unfriendly skies. Media myth: Blame the airlines for all those flight delays; never mind the obsolete government-run agency creating the gridlock. Truth: The Boyd Group, an aviation consulting company that has been quoted by The Wall Street Journal, BusinessWeek and other media, faults the government-run FAA and ATC system for flight delays in particular. “The main cause of delays is the decades-long inability of the FAA to construct an ATC system that meets the demands of the air transportation system. The ATC system is not a static set-piece to which we must adjust our aviation system. Instead, it is a vital part of our infrastructure which the FAA has repeatedly failed to keep updated,” states the Boyd Group Web site. The Boyd Group continued: “The FAA has consistently wasted billions over the past 25 years, often on programs that only get so far and are then cancelled.” 9. Consumer spending is the be-all, end-all of the economy. Media myth: Without excessive consumer spending – especially at Christmastime – the U.S. economy will collapse. Truth: Holiday spending wasn’t as ho-hum as journalists had worried. Despite predictions of a “gray Friday,” Black Friday and Saturday sales combined saw a 7.2-percent sales increase, rising to $16.4 billion. 8. The stock market is trouble, whether it goes up or down. Media myth: One day the stock market can’t sustain growth; the next, we’re just one drop away from another crash. Truth: According to the October 15 Wall Street Journal, a stock market crash is unlikely and investors “see stocks continuing their rebound.” 7. Anyone who ‘denies’ global warming shouldn’t be taken seriously. Media myth: Global warming could cause a ‘century of fires,’ just as it has created allergies and ended winter fashion. If we don’t do something now (i.e. spend hundreds of billions of dollars), it’s only going to get worse. Truth: Dissent against the “consensus” on global warming gets the cold shoulder from the media, but there is disagreement. 6. You’d better not eat/drink that! Media myth: Forget the right to eat as you please; the nanny-state knows better. Truth: Moderation is the answer and personal choice is better than government intervention. A pro-regulation slant came as no surprise from the same media that constantly repeat claims from the left-wing Center for Science in the Public Interest. 5. Most Americans are losing their homes. Media myth: Americans everywhere are losing their homes to foreclosure, and the housing bust is going to ruin the economy. Truth: The foreclosure figures most stories used came from RealtyTrac, a source that counts each filing in the foreclosure process. One house has to go through several steps in the process, so counting each one as a separate foreclosure is inaccurate. Rick Sharga, the organization’s president, said it is misleading to call the number total foreclosures – which is what the media kept doing. 4. “Going Green” is good for America and business. Media myth: Businesses are much better off if they go green, and that’s what people really want anyway. Truth: BusinessWeek deserves credit for revealing the “Little Green Lies” corporate sustainability advocates have been telling. Its profile of environmentalist Auden Schendler showed the futility of his quest to “green” his company. Contrary to what Schendler once thought, and what the media say, “many major initiatives simply aren’t money-savers. They come with daunting price tags that undercut the conviction that environmental salvation can be had on the cheap,” wrote BusinessWeek. 3. Lenders are responsible for everyone’s debts. Media myth: Drowning in red ink isn’t your fault; blame the guy who loaned you the money. Truth: While some lenders may have been “unscrupulous,” no one holds a gun to someone’s head and forces him or her to take out a mortgage with a variable rate or without a down payment. Financial experts like Dave Ramsey emphasize the need for personal responsibility when it comes to borrowing. 2. Free health care would be great! Media myth: To save our children and the 47 million uninsured Americans, and to keep up with the rest of the world, we must have government-run health care. Truth: Politicians and journalists alike have touted health care plans based on the assumption of “47 million uninsured Americans.” That number is off by 10 million at a minimum. There are millions who should be excluded from an accurate total, including: those who aren’t American citizens; people who can afford their own insurance but don’t purchase it; and people who already qualify for government coverage but haven’t signed up. 1. The U.S. Economy is in recession. Media myth: The U.S. economy is nearly in, or is in, a recession. Truth: The U.S. economy is NOT in a recession and has experienced strong growth. businessandmedia.org