VIDEO: First Greece, Now Cyprus: The Right-Wing Media's Fiscal FearmongeringMarch 29, 2013 2:17 PM EDT ››› ALBERT KLEINE
Conservative media are again using a European financial crisis to stoke fears about the U.S. economy.
According to many right-wing media figures, the Cypriot government's plan to tax private bank accounts to avert a fiscal disaster provides a dire warning for the U.S. Many have speculated or outright claimed that the same could happen here unless the so-called "debt crisis" is averted
Of course, fears of heavy taxation on private bank accounts occurring in the U.S. are largely unfounded, with many experts noting the comparison between the two countries is ill-conceived. But the facts rarely matter for right-wing media when it comes to exploiting a European crisis.