Nonprofit Newswire | New Nonprofit Journal’s Bias Questioned

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February 2, 2010; Columbia Daily Spectator | Last month saw the launch of the latest venture in nonprofit journalism, The Fiscal Times, a new digital publication covering “U.S. fiscal, budgetary, and economic issues.” TFT is underwritten by Pete Peterson, a Wall Street mogul and hedge-fund founder who has [crusaded] “for 30 years to convince Americans that the nation is on the verge of bankruptcy, the only solution being drastic cuts in domestic social programs like Social Security and Medicare.” Although Peterson counts some in Congress as supporters, many prominent economists warn “that millions of vulnerable people would be thrown into poverty if his prescriptions were ever adopted.” This Columbia Spectator‘s article questions why the Washington Post, TFT’s first content-sharing partner, neglected to alert its readers to the fact that TFT is funded by Peterson, and characterizes the first article as “predictably biased and misleading.” Of greater concern, the authors worry that other media outlets may accept the Post‘s imprimatur and rely on TFT for their own financial reporting. Naysayers of the nonprofit news model have warned against just this type of conflict for quite some time now. Tell us if we’re wrong but this is one of the first examples we’ve seen to date.—Timothy Lyster