The Week in Words

“Tweetheart” had to be the best new word of the week. It refers, of course, to Rep. Weiner and his twitter recipient. Not the kind of valentine I would want.
Otherwise, the economy birthed new phrases this week. The bad data streaming last week is causing consternation. President Obama called the weak jobs report “a bump on the road.” It may be a bump, but economically we are on the highway to hell.
Had many of us heard of the Case Schiller housing index before last week? We learned about it after the bad news came out. The indeces “are the leading measures for the U.S. residential housing market, tracking changes in the value of residential real estate both nationally as well as in 20 metropolitan regions.” It’s calculated monthly and hit a new low in May.
That wasn’t what the “wishcasting” by economists wanted. “Wishcasting” is what has happened on most of the nightly network news ever since Obama took office.
Their broadcasts are part of what Paul Ryan has called “the media narrative.” The budget conscious congressman was responding to charges that Republicans are not behind his plan to buck up Medicare. Seems we have a lot of media narratives in the news and they fit in with their wishcasting rather than describe facts and the truth.
At the AmericanThinker blog author Keith Riler boiled down our fiscal situation in two words: Crowding Out. He says “Crowding Out is any reduction in private consumption or investment that occurs because of an increase in government spending.
“The question is, if the entrant is government, is that entrant more efficient with an improved product and does that entrant create more and better jobs? Traditionally, the post office and DMV sufficiently answered this question,” he says.
Let’s see if “crowding in” becomes a popular alternative.

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