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The Wall Street Journal reinforced its call for spending cuts, seemingly undeterred by recently discredited research and overwhelming evidence showing that fiscal tightening negatively impacts economic growth.

Reacting to recent research that has questioned austerity proponents’ most cited figure — the 90 percent debt-to-GDP threshold as identified by Camen Reinhart and Kenneth Rogoff — an April 30 Wall Street Journal editorial claimed that the new revelations are being used to “revive the spending machine.”

Instead of addressing the fact that the discrediting of Reinhart-Rogoff took, as The Washington Post‘s Neil Irwin puts it, a “great deal of wind out of the sails from those who argue that high government debt is, anywhere and everywhere, a bad thing,” the WSJ instead used this event to attack government spending in all forms and reinforce calls for austerity. From the editorial:

http://mediamatters.org/blog/2013/04/30/faced-with-discredited-research-wsj-doubles-dow/193834

One thought on “Faced With Discredited Research, WSJ Doubles Down On Calls For Austerity

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