LARRY ELDER COMMENTARY: The Media's Spin On Greenspan

The libertarian Republican commentator writes about media reactions to Alan Greenspan's new book: "Let's play 'Jeopardy!' Answer: This news event triggered the following headlines. 'Greenspan Faults Bush in Book; Ex-Fed Chief: Politics Trumped.' 'Former Fed Chair Greenspan Criticizes Bush in Book.' 'In New Book, Former Fed Chairman Alan Greenspan Bashes Bush.' 'Greenspan Book Criticizes Bush and Republicans -- 'They Deserved to Lose.' 'Greenspan Is Critical of Bush in Memoir; Former Fed Chairman Has Praise for Clinton.' 'Greenspan Decries Course of Bush and GOP in New Book.' Question: What is the publication of former Federal Reserve Chairman Alan Greenspan's new book? The headlines provide yet another glaring example of the liberal bias of the traditional press. For the headlines leave the reader wondering. Greenspan criticized Bush about what? His tax cuts? The sluggish federal response to Katrina? The war in Iraq? The alleged constitutional abuses in connection with the war on terror? The Bush position on immigration reform? No Child Left Behind? The prescription benefit bill for seniors? What? But, in fact, Greenspan criticized Bush -- and congressional Republicans -- for excessive spending. How about a headline like 'Ex-Fed Chair Says Bush Spends Too Much,' or 'Greenspan Says Bush Failed to Rein in Spending,' or 'Republicans Spend Like Democrats Says Ex-Fed Chair'? Why, you ask, did the newspaper headlines fail to say that?"

Mr. Elder continues his commentary: "The actual headlines accomplish two things. The traditional media can gleefully report on another Bush 'defection,' reinforcing the notion of near-universal unhappiness with Bush and his 'failed presidency.' But second, and more importantly, it protects Democrats. How? Take the excesses of the Bush administration -- examine the non-defense, non-homeland security, non-automatic pilot 'entitlement program' expenses like Medicare and Social Security. Bush's excesses then consist of No Child Left Behind, the prescription benefit bill for seniors, and the pork-riddled highway and energy bills. In each case, Democrats criticized Bush for not spending more.....The liberal media also grabbed hold of Greenspan's assertion that President Bill Clinton's 1993 economic plan demonstrated 'courage.' Huh? Clinton raised the top marginal tax rate from former President George Herbert Walker Bush's 31 percent to 40 percent. Yet Greenspan supported, while most Democrats opposed, President George W. Bush's tax cuts. Greenspan even supported making the tax cuts permanent."