The press has had a feeding frenzy over Sarah Palin’s emails and Anthony Weiner’s weiner, but giving only a passing glance at stories that are important. If the same media crew had been reporting on the late Roman Empire, they’d be all over some scandal about what Senator Maximus did with his horse and only mention in passing that the empire is being divided up into pieces and, oh yes, there are barbarians at the gates.

Example: Americans are being told that Medicare has to be cut to save money, but that’s OK, because their health care needs can be taken care of by private insurance companies. And that’s better, because the private sector is always more cost-effective than the public sector.

Except …

Krugman’s column today explains all the ways that privatizing Medicare, or raising the age of eligibility, would cost the nation more money that it saves. But unless you are a Krugman reader or devoted progressive blog follower, you’ll never hear any of this.

And then there’s the debt ceiling issue. Polls show a majority of Americans are opposed to raising the debt ceiling, and I continue to argue that most Americans don’t understand what the debt ceiling is and what will happen is if isn’t raised. And nobody is explaining it to them.

Josh Marshall says that some of the big banks already are planning for cutting use of Treasuries, adding, “Republicans are playing Russian Roulette with the US economy. But with like three or four bullets in the chamber.”

David Kurtz asks, “Is it too much to hope for that the GOP presidential candidates will be pressed in tonight’s debate in New Hampshire on their party’s gambit to drive the U.S. into default?”

The debate will be on CNN. I don’t know if I have the stomach to watch, but if anyone requests it I’ll create an open thread for those of you who want to comment on it.