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Among journalists, last week’s news that public trust in the media has fallen to an all-time low was accompanied by the wringing of hands, the gnashing of teeth, and the rending of garments.

According to Gallup, just 32 percent of Americans surveyed in early September believe that the media “report the news fully, fairly and accurately.” That’s down from 40 percent just last year—and from 55 percent in 1999, when newspapers were profitable, the Big Three networks newscasts were inviolable, and the cable news networks had not yet hit upon partisan shoutfests as a formula for filling hours of airtime at very little expense.

Gallup’s findings, which we talked about last Friday on Beat the Press, are serious and disturbing for a craft that relies on credibility. At the same time, though, there’s less here than meets the eye.

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