Published: Wednesday 13 June 2012
“The Federal Reserve Board's Survey of Consumer Finances (SCF) for 2010 provides insights into changes in family income and net worth since the 2007 survey.”

The Federal Reserve released a study this week showing that Americans' net worth fell dramatically between 2007-10. However, while reporting on the study, Fox News hosts falsely claimed the decline occurred during the "last three years," even though it's clear the decline began two years before President Obama took office.

Fed: American Families' Net Worth Declined Nearly 40 Percent From 2007-10Federal Reserve: "Median Net Worth Fell 38.8 Percent ... Between 2007 And 2010." From the Federal Reserve's June 12 bulletin:

The Federal Reserve Board's Survey of Consumer Finances (SCF) for 2010 provides insights into changes in family income and net worth since the 2007 survey.1 The survey shows that, over the 2007-10 period, the median value of real (inflation-adjusted) family income before taxes fell 7.7 percent; median income had also fallen slightly in the preceding three-year period (figure 1).

The decreases in family income over the 2007−10 period were substantially smaller than the declines in both median and mean net worth; overall, median net worth fell 38.8 percent, and the mean fell 14.7 percent (figure 2).Median net worth fell for most groups between 2007 and 2010, and the decline in the median was almost always larger than the decline in the mean. The exceptions to this pattern in the medians and means are seen in the highest 10 percent of the distributions of income and net worth, where changes in the median were relatively muted. Although declines in the values of financial assets or business were important factors for some families, the decreases in median net worth appear to have been driven most strongly by a broad collapse in house prices. [Federal ...

Published: Wednesday 8 February 2012
Sean Hannity: “The thing we’ve got to deal with more than anything else in this country is deal with this entitlement mindset, the government’s going to help me in every aspect of my life.”

As income disparities continue to increase, and the effective tax rate paid by the rich remains at historic lows, right-wing media figures work hard to make sure none of that changes. They routinely attack the poor and programs designed to assist them, while simultaneously extolling the rich and defending them against any attempt to get them to pay their fair share of taxes.

Conservative Media Frequently Deride The Plight Of The Poor As Well As Programs To Aid Them ...

... But Fiercely Defend The Rich ...

... Often Relying On ...

Published: Saturday 13 August 2011
“Just this week alone, Limbaugh repeated a number of falsehoods.”

Rush Limbaugh complained recently that critics constantly accuse him of "lying" and "making [things] up," a charge he steadfastly dismissed. However, Media Matters has rounded up some of the whoppers he's told this week alone.

 

Limbaugh Whined That Critics Accuse Him Of "Lying"

Limbaugh Complained About Critics Who Accuse Him Of "Lying" And "Making [Things] Up." On his radio show, Rush Limbaugh said:

LIMBAUGH: I'm wondering if maybe these emails are coming from actual supporters disguised as critics, because my email box gets flooded every time I make an assertion: "You're lying about it, just like you lie about everything. You're just making it up." [Premiere Radio Networks, The Rush Limbaugh Show, 8/11/11]

But Just This Week Alone, Limbaugh Repeated A Number Of Falsehoods

Limbaugh: "The Public Does Not Want Compromise." During a discussion with a caller about a balanced approach to deficit reduction that includes both spending cuts and tax increases, Limbaugh said:

LIMBAUGH: The public does not want compromise. That is the biggest misnomer. A majority of Americans -- I don't think it's any question about it now -- wants Obama defeated. They don't want him to compromise, and they don't want any more of Obama's ideas. And we don't want any more tax increases. [Premiere Radio Networks, The Rush Limbaugh Show, 8/12/11]

Click here for the truth about Americans supporting tax and revenue ...

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