In yesterday’s post titled “Now THIS Is Gaslighting…Or Outright Lying…Or Senility…,” Ethics Alarms discussed the now common phenomenon of Democrats, especially Joe Biden, dealing with the unpleasant reality of what their incompetence and corruption has wrought by simply asserting that the opposite of that reality is true. That post was focused only on Biden’s outrageous claims that Americans were better off financially after nearly three years of “Bidenomics,” and, even more absurdly, that the “knew it.”

But I did not read the whole speech. With few exceptions, like this one…

…I don’t waste time listening or reading what President Biden says unless another source points me to a particular selection: after all, I have a sock drawer to maintain. Moreover, I have known for decades that Biden lies, plagiarizes, says whatever his pea-brain thinks is useful at the time, and since he started leaking brain cells and IQ points, I also know at any moment he is liable to announce that he is Marie of Rumania. As it turns out, Biden’s claims about the financial fortunes of Americans was just the tip of a rather large metaphorical ice berg, and CNN, now trying to regain its squandered credibility and reputation after dumping the worst of its biased hacks (Brian Stelter, Chris Cuomo and Don Lemon), though far from all of them, could not resist a genuine “factcheck.”

It was like shooting fish in a barrel. Biden said, “I was able to cut the federal debt by $1.7 trillion over the first two years.” That’s pure fiction. CNN pointed out, correctly, that the national debt has increased by more than $5.7 trillion during Biden’s presidency so far. Now, it is theoretically possible that this addled fool doesn’t know the difference between the deficit and the debt, but that’s material misrepresentation, because reducing the debt means that the U.S. actually owes less money, while reducing the deficit only means that the debt has increased less than it has recently because the government is spending more than it is taking in. CNN wasn’t through debunking this piece of fiction:

It’s worth noting, as we have before, that Biden’s Friday comments would be missing key context even if he had not inaccurately replaced the word “deficit” with “debt.” It’s highly questionable how much credit Biden himself deserves for the decline in the deficit in 2021 and 2022. Independent analysts say it occurred largely because emergency Covid-19 relief spending from fiscal 2020 expired as scheduled – and that Biden’s own new laws and executive actions have significantly added to current and projected future deficits. In addition, the 2023 deficit is widely expected to be higher than the 2022 deficit.

And CNN wasn’t done.

Following his debt fairy tale, Biden said, “Those 50 corporations that made $40 billion, weren’t paying a penny in taxes? Well guess what – we made them pay 30%. Uh, 15% in taxes – 15%. Nowhere near what they should pay. And guess what? We were able to pay for everything, and we end up with an actual surplus.”

Even if you can decode it, the statement is garbage, and CNN called Biden on it, writing, “Biden’s 15% corporate minimum tax on certain large profitable corporations did not take effect until the first day of 2023, so it could not possibly have been responsible for the deficit reduction in fiscal 2021 and 2022. Third, there is no “actual surplus”; the federal government continues to run a budget deficit well over $1 trillion.” CNN added,

When Biden [said] “those 50 corporations that made $40 billion, weren’t paying a penny in taxes,” he was referring, as he has in the past, to an Institute on Taxation and Economic Policy analysis published in 2021 that listed 55 companies the think tank found had paid no federal corporate income taxes in their most recent fiscal year.

But it was imprecise, at best, for Biden to say …that we made “them” pay 15% in taxes. That’s because the new 15% minimum tax applies only to companies that have an average annual financial statement income of $1 billion or more – there are lots of nuances involved; you can read more details here – and only 14 of the 55 companies on the think tank’s list reported having US pre-tax income of at least $1 billion. In other words, some large and profitable companies will not be hit with the tax.

This is what news organizations are supposed to do: objectively and without biases or agendas clarify the facts for the public, and “speak truth to power” when that power tries to maintain power by keeping the citizens who are supposed to be able to direct it in the dark. One example of good journalism from one of the main purveyors of partisan propaganda over the past two decades or more does not signal a revolution or even significant reform, but at least it is progress in the right direction.

Meanwhile, we have a President of the United States, whose reelection will be promoted by his party and its captive news media chanting that his opponent lies constantly, telling Americans that he reduced the debt by $1.7 trillion when he really increased it by more than $5.7 trillion. Even Donald Trump has never uttered a whopper like that. Now what?