Monday, April 04, 2005

LA Times State Bond Rating 'Correction' As Bogus As Original Editorial! OFF WITH THEIR HEADS!!

To refresh, in an editorial last Wednesday, the LA Times tried to make us believe that Arnold's approaches to taxes and spending had caused the state's bond ratings to plummet. They finally 'corrected' this (four days later...) by confessing that they had 'misstated' the facts (i.e., lied like a rug) as they admitted that even though the bond ratings at two agencies had been 'sharply' lowered the month after Arnold was sworn in, that they had since risen to about where they were before.

And notice how the ever impartial LA Times said the rates had been 'sharply lowered' when they dropped, but when they went back up, the 'sharply' part somehow got... dropped.

Now this bond rating drop was just slightly over two weeks after Arnold took office as the true extent of the Gray Davis budget disaster was becoming clearer and clearer. So even though one of the bond agencies did cite the car tax repeal as one of their several reasons, it is disingenuous to say that this drop was caused by two weeks of Arnold's policies that hadn't even been developed, much less passed or implemented.

In contrast, once Arnold did get his tax and spending policies approved - not just two - but all THREE bond rating agencies 'sharply' raised their ratings, and all three bond rating agencies cited his policies (along with an improving economy) for their 'sharp' improvement of California's bond rating.

So, to be perfectly clear, before Arnold's tax and spending plan was passed - dropping bond ratings, and after Arnold's tax and spending plan was passed - rising bond ratings. The exact opposite of what the Times said.

But did (or will?) the LA Times ever come out and say that Arnold's spending and tax policies actually RAISED the state's bond ratings? Will the LA Time ever apologize to Arnold and the people of this city and this state for such a monumental error? Will anyone at the LAT fall on his sword to atone for this journalistic sin? Will the LA Times ever hire anyone who was born and raised - or even LIVES - in LA?

Of course not.

Doing something like that might actually improve the LA Times' rapidly plummeting credibility or the Times' equally rapidly dropping circulation figures. And, luckily for those us who care about this city, the LA Times' soon to be realized death wish will prevent that from ever happening.

1 comment:

Robert said...

3 comments in one!

Your headlines are great (really great), I wish you allowed anonymous comments, and the last graf should have read:

[Taking steps toward journalistic integrity]...might actually improve the LA Times' sharply plummeting credibility or the Times' equally sharply dropping circulation figures.