The ‘Wilkow!‘ daily digit Monday is $4.8 billion.
That’s how much money the federal government is on track to borrow each day for FY 2013. For the first two months of FY 2013 – October and November – the government ran a deficit of $292 billion.
While media coverage leading up to the Fiscal Cliff has been persistant and ominous, Andrew Wilkow argues that the press has decided to only take one “solution” seriously: Republicans caving in on raising tax rates.
According to analysis from the Media Research Center’s Business and Media Institute, in the three weeks following President Obama’s re-election, ABC World News with Diane Sawyer devoted more than 10 minutes 18 seconds to talk of tax hikes and just 35 seconds to spending cuts (a 17-1 margin). NBC Nightly News discussed taxes more than twice as often as spending (4 minutes 23 seconds to 1 minute 47 seconds.), while CBS Evening News gave tax hikes only three more minutes of coverage (14 minutes 5 seconds to 10 minutes 12 seconds). However, more than a third of CBS’s spending cut coverage total comes from one story detailing the horrific downside of spending cuts.
MRC Vice President Dan Gainor joined ‘Wilkow!’ Monday to discuss this apparent bias leading up to the Fiscal Cliff: