Sure, it's been going on forever - language gets twisted and changed in ways that strike a nerve ("hot dogs") or are just laughable ("freedom fries"). I'll use Mario Piperni's delicious graphic as a reference:
It's funny, but allow me to enlighten the language some for those who don't listen to right wing radio. It's not called "crony capitalism" when republicans do it, obviously (last week I hear an "I've never heard" outcry from Hannity about Congressional insider trading with specifically Democratic references), but there's a new language from the Ay-Am band radio hosts making its terribly un-funny debut: Crony Socialism.
The Solyndra issue might be pushed through the crony mold, but it has nothing to do with socialism. At all.
Take note, now and forever: the language they use has effects - and sometimes it even sticks.
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