Post Uses News Section to Push Its Editorial Line on Austerity, Again

The Washington Post reminded readers why it is known as Fox on 15th Street when it referred to an agreement among European leaders that it said would "limit the perennial budget deficits that are the root of the crisis."

Both parts of this statement are demonstrably false. Of the five countries now facing an imminent debt crisis, only Greece and Portugal had consistent deficit problems prior to the economic collapse in 2008. Italy had a declining ratio of debt to GDP and Spain and Ireland...