Issue Post: The Media

The Media's Role in the Debate on Debt and the Financial Services Sector

The Media plays a huge role in the debate over the National Debt and the Financial Services Sector. The same topics are covered very differently by the different media organizations. Prior to the Financial Crisis there was limited discussion of increased financial regulation. However, after the Crisis prominent companies such as MSNBC, CNN, and the New York Times all came out in favor of increased regulation, while the New York Post, Wall Street Journal, and Fox News did not support additional regulations. While the New York Times would often put stories about the Dodd-Frank Bill on the front page, the Wall Street Journal would place it on page 8 of the Money&Investing section. MSNBC hosts such as Rachel Maddow said increased regulation would help prevent future busts. While Fox New's anchors like Sean Hannity said it would limited the profitability of financial services firms and slow economic growth. When covering the national debt the differences between the major media organizations is more nuanced. All of the major news outlets agree that something must be done. The difference is the New York Times, MSNBC, and CNN support higher taxes along with spending cuts, while Fox News/WSJ often support only spending cuts. In addition although more left leaning news sources like MSNBC say the national debt is an issue, they argue that it is not an urgent one. While Fox often states the debt must be cut to avoid a severe economic crisis. 

http://www.foxnews.com/

http://www.nytimes.com/

http://en.wikipedia.org/wiki/News_media_(United_States)

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