There is a very good reason why Fox News viewers have been shown in numerous studies to be less informed than consumers of other media, or even those who consume no media at all. The reason is that Fox News deliberately misreports and distorts facts in order to advance their right-wing ideology.
A perfect example of this was demonstrated in an article that Fox posted today on their community website, the lie-riddled Fox Nation. The article was titled “OBAMANOMICS IN ACTION: Typical US household Worth One-Third Less Than Under Bush.”
The source for the highly inaccurate assertion in the headline was a study performed by the Russel Sage Foundation (RSF) and published by the Stanford Center on Poverty and Inequality: Wealth Levels, Wealth Inequality, and the Great Recession (pdf). The RSF describes itself as “the principal American foundation devoted exclusively to research in the social sciences.” The study itself is a well-researched and scholarly examination of the effects of the Great Recession on wealth inequality in the U.S. It took a fair degree of determination and willful ignorance to twist the conclusions into a criticism of President Obama’s economic policies. And they began by proving that they don’t know the difference between “median” households and “typical” households.
For the record, median, in this context, is referring to the dollar value of the subject’s net worth. It has nothing to do with the number of subjects in that value range. In fact, there are many more people on the lower end of the wealth spectrum than the upper end. Therefore, median does not translate to typical.
What the study shows is that wealth increased among the richest Americans throughout most of the Bush years, beginning with the GOP tax cut for the rich in 2001. That cut, along with two off-budget wars, also produced the massive deficits that sprung from the budget surplus Clinton left for Bush. During the same time period the rest of the country languished. Those in the 25th percentile actually began to decline in 2005, before the Great Recession hit. Following the Bush Debacle at the end of 2008 everyone lost money, but those at the bottom lost a far greater percentage of their net worth than those at the top.
Also, the characterization by Fox that things were so much better while Bush was president is based on measuring the difference from the beginning of the Bush term in 2001. But by using that as the starting point it diminishes his responsibility for the economic collapse over which he presided in 2008, and places more of the consequences of it on Obama. A more significant measure would start with the Great Recession in late 2008. From that point on there has been steady progress.
Read the rest of this story on News Corpse, your source for exposing the lies of Fox News and other right-wing media hacks.