Every reporter has political beliefs
By John Stossel
Look at todays burning issue: President Obamas pledge to redesign 15 percent of the economy. Virtually every reporter calls his health care plan reform. But dictionaries define reform as improvement. So before they present any evidence reporters pronounce Obamas plan an improvement. Isnt that bias? When I announced last week that I was leaving ABC for Fox some readers complained about my bias. I replied: Every reporter has political beliefs. The difference is that I am upfront about mine.
The New York Times took its bias to an absurd length. Its page-one story on the big anti-big-government rally in Washington D.C. referred to protests that began with an opposition to health care. ...
Apparently in the Times reporters and editors view opponents of the Obama health care plan oppose health care itself. (The online article was later changed.)
Economic-policy reporters usually present the views of supporters of new regulations as objective and public-spirited. For a contrary view at best theyll ask a Republican or a representative of the regulated business who is portrayed as self-serving. (Republicans tend to offer a watered-down version of the Democrats proposals.)
A recent Bloomberg report on President Obamas plans to rewrite financial regulations is typical: Obama has proposed new regulations overseeing the systemic risk posed by large financial institutions. The reporter quoted White House economic adviser Lawrence Summers in support of the plan. Although there are plenty of reasons to doubt that regulators are competent at judging systemic risk no skeptical economist was quoted. Readers are led to believe the program is perfectly feasible.
Most reporting on the stimulus package has the same flaw. Just to call it stimulus is to editorialize since the idea that government spending can truly stimulate an economy is at best doubtful. Many good economists say it cant be done. After all the money is taken from somewhere else. But the economists rarely are quoted.
In addition reporters seem to think theyve done their job if they merely describe the intentions behind the proposed reform. But the burden of proof should be on the sponsors of regulation and spending. They should have to make a convincing case that their new rules are superior to the free market. Who cares about intentions?
Fuel-efficiency standards intended to save gasoline give us less crashworthy cars so more people die. Subsidies to American farmers destroy Third World markets. Fannie Mae and Freddie Mac encouraged shaky subprime mortgages and helped cause the housing and financial turmoil.
The long list of bad results that have emerged from well-intended regulation ought to dim reporters enthusiasm. But it hasnt.
I admit that my guiding political and economic philosophylibertarianismnow shapes my reporting in this way: It prompts me to ask questions that others dont ask.
I dont claim to be the expert. But some of my colleagues who write about business know nothing about economics. Many are comically hostile to profitthey dismiss it as greed (although they bargain for the highest salaries possible).
On my former ABC blog some people called me a biased conservative.
Your (sic) a shill anyways John. dont (sic) let the door hit you in the you know what.
Im surprised that the self-described enemies of intolerance cant tolerate even one MSM reporter who doesnt share their statist premises. The interventionist state has been the status quo for generations so I must be something other than conservative. Liberal is what my philosophy used to be called. Its the statists who are the reactionaries.
Not all the blog comments were hostile:
Congratulations. The mind boggles at the thought of giving free reign on air to someone who actually understands economics.
Stossel challenges conventional wisdom so I hope Fox lets him do that.
I assume Fox will.
My points of view on things like immigration nation-building and the war on drugs differ from those of many at Fox but libertarians like Judge Andrew Napolitano still seem to thrive there. The alleged conservatives are pretty tolerant.
I think theyll tolerate me. See you there next month.
John Stossel joins Fox News on October 19. Hes the author of Give Me a Break and of Myth Lies and Downright Stupidity.
