{"id":10670,"date":"2013-10-07T10:12:11","date_gmt":"2013-10-07T17:12:11","guid":{"rendered":"http:\/\/www.newscorpse.com\/ncWP\/?p=10670"},"modified":"2013-10-07T10:12:11","modified_gmt":"2013-10-07T17:12:11","slug":"does-fox-news-think-that-ronald-reagan-tried-to-panic-the-markets","status":"publish","type":"post","link":"https:\/\/www.newscorpse.com\/ncWP\/?p=10670","title":{"rendered":"Does Fox News Think That Ronald Reagan Tried To Panic The Markets?"},"content":{"rendered":"<p>This weekend&#8217;s edition of Fox News Sunday had a segment wherein the host, Chris Wallace, interviewed Treasury Secretary Jack Lew. In the course of the interview Wallace addressed the government shutdown and the approaching debt ceiling crisis with this phony premise:<\/p>\n<blockquote><p>&#8220;This week both you and the president seemed to be trying to panic the markets about both raising the debt ceiling and the government shutdown, saying that they should be more concerned.&#8221;<\/p><\/blockquote>\n<p><center><img decoding=\"async\" src=\"http:\/\/www.newscorpse.com\/Pix\/FoxNews\/foxnews-reagan-debt-ceiling.jpg\" alt=\"Fox News\" \/><\/center><br \/>\n<\/p>\n<p>In fact, President Obama merely observed what every credible economist has said about the prospect of the United States defaulting on its financial obligations. It would throw the world economy into turmoil and inflate the U.S. debt by billions due to higher interest rates. Just the threat of taking such an irresponsible step would panic the market without Obama having to say a word. And Obama is not the only one who thinks so. Here is what the GOP&#8217;s sainted Ronald Reagan had to say about it back on September 26, 1987:<\/p>\n<p><center><iframe loading=\"lazy\" width=\"480\" height=\"270\" src=\"\/\/www.youtube.com\/embed\/e6nNJiJsm70\" frameborder=\"0\" allowfullscreen><\/iframe><\/center><\/p>\n<blockquote><p><strong>Reagan:<\/strong> Congress consistently brings the Government to the edge of default before facing its responsibility. This brinkmanship threatens the holders of government bonds and those who rely on Social Security and veterans benefits. Interest rates would skyrocket, instability would occur in financial markets, and the Federal deficit would soar. The United States has a special responsibility to itself and the world to meet its obligations. It means we have a well-earned reputation for reliability and credibility \u2013 two things that set us apart from much of the world.<\/p><\/blockquote>\n<p>The hypocrisy of the Tea Party Republicans pretending to care about impacting the financial markets is monumental. Their own words (not to mention their actions) have been far more threatening than anything Obama has said. They have been saying for five years that Obama and his Marxist policies would bring the nation to ruin. They said he would destroy the economy and the country; that ObamaCare would bankrupt the nation and lead to civil war; that asking the rich to pay a little more in taxes, rather than putting the burden on the poor and middle class, would crush the recovery; that anything the President ever proposed would be a job killer and a disincentive to investment.<\/p>\n<p><center><a href=\"http:\/\/www.facebook.com\/pages\/News-Corpse\/117899091558228?v=wall\" target=\"_blank\" title=\"Like me on Facebook\">Be Sure To \u201cLIKE\u201d News Corpse On Facebook<\/a><\/center><\/p>\n<p>Those predictions were about as accurate as last year&#8217;s Mayan end-of-the-world prophecy. The stock market is higher now than it was before the recession. The unemployment rate has dropped from 10.1 to 7.3 percent. And ObamaCare has proved to so popular that the demand crashed the government servers. Given the right&#8217;s record on forecasting the future, how can anyone take them seriously? Even the words of their idol, Reagan, don&#8217;t seem to diffuse their rabid Obama Derangement Syndrome.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This weekend&#8217;s edition of Fox News Sunday had a segment wherein the host, Chris Wallace, interviewed Treasury Secretary Jack Lew. In the course of the interview Wallace addressed the government shutdown and the approaching debt ceiling crisis with this phony premise: &#8220;This week both you and the president seemed to be trying to panic the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"Does Fox News Think That Ronald Reagan Tried To Panic The Markets?","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[219,1],"tags":[183,116,33,159],"class_list":["post-10670","post","type-post","status-publish","format-standard","hentry","category-economy","category-general","tag-barack-obama","tag-chris-wallace","tag-fox-news","tag-ronald-reagan"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p4Ijg-2M6","jetpack-related-posts":[{"id":10710,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=10710","url_meta":{"origin":10670,"position":0},"title":"Oh The Stupidity: Sarah Palin Wants Obama Impeached For Both Solving\/Not Solving The Debt Crisis","author":"Mark NC","date":"10\/15\/2013","format":false,"excerpt":"America's own rogue GOPachyderm, Sarah Palin, is such a consistent source of hilarity it seems impossible that she could keep up the pace any longer. But just when you think she's exhausted her supply of inanity, she posts another Facebook column and reestablishes her crackpot bona fides: \"Apparently the president\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=219"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":10591,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=10591","url_meta":{"origin":10670,"position":1},"title":"Dumbass Doocy: Fox News Still Doesn&#8217;t Understand What The Debt Ceiling Is","author":"Mark NC","date":"9\/21\/2013","format":false,"excerpt":"As the nation approaches another showdown over the raising of the debt ceiling, Fox News continues to prove that either they don't understand economics or they are dedicated to misinforming their gullible viewers - or more likely, both. On Friday's episode of Fox & Friends, Steve Doocy and his couch\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=219"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":56099,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=56099","url_meta":{"origin":10670,"position":2},"title":"Sean Hannity and Marjorie Taylor Greene Conspire to Blackmail America with Debt Ceiling Default","author":"Mark NC","date":"1\/19\/2023","format":false,"excerpt":"On January 19, 2023, the United States officially hit the debt ceiling established in the previous session of Congress. As a result, the Treasury Department must now start taking extraordinary measures to continue to meet the nation's prior obligations and avoid a catastrophic default. It is estimated that those measures\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=219"},"img":{"alt_text":"Fox News, Sean Hannity","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/foxnews-hannity-scared.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/foxnews-hannity-scared.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/foxnews-hannity-scared.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":20734,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=20734","url_meta":{"origin":10670,"position":3},"title":"Ben Carson Reveals Himself To Be A Delusional Conspiracy Theorist On Fox News Sunday","author":"Mark NC","date":"9\/29\/2014","format":false,"excerpt":"This weekend Fox News Sunday interviewed the Tea Party flavor of the week, Dr. Ben Carson. The interview (video below) was notable for some of the uncharacteristically clear-headed questions from host Chris Wallace that exposed Carson as the extremist nut case that he is. Wallace introduced the segment by noting\u2026","rel":"","context":"In &quot;Election&quot;","block_context":{"text":"Election","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=152"},"img":{"alt_text":"Ben Carson","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/carson-2016.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/carson-2016.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/carson-2016.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":39806,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=39806","url_meta":{"origin":10670,"position":4},"title":"WHOA: Former Reagan Budget Chief Tells Fox News that Trump is a &#8216;Madman&#8217; Who is &#8216;Out to Lunch&#8217;","author":"Mark NC","date":"11\/23\/2018","format":false,"excerpt":"It isn't often that Fox News broadcasts anything that is remotely critical of Donald Trump. 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And it is even less common that the criticism would come from a devout conservative whose credentials reach back to the hallowed\u2026","rel":"","context":"In &quot;Economy&quot;","block_context":{"text":"Economy","link":"https:\/\/www.newscorpse.com\/ncWP\/?cat=219"},"img":{"alt_text":"Donald Trump, Fox News","src":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-foxnews-scared.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-foxnews-scared.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.newscorpse.com\/ncWP\/..\/Pix\/Trump\/trump-foxnews-scared.jpg?resize=525%2C300&ssl=1 1.5x"},"classes":[]},{"id":1439,"url":"https:\/\/www.newscorpse.com\/ncWP\/?p=1439","url_meta":{"origin":10670,"position":5},"title":"Chris Wallace Romances Rush Limbaugh On Fox News Sunday","author":"Mark NC","date":"11\/1\/2009","format":false,"excerpt":"If there really is a war between the White House and Fox News, Fox has fired the most recent shot. By booking Rush Limbaugh on his Fox News Sunday, Chris Wallace has unveiled his undisguised enmity of the Obama administration. 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