Headline writers are paid to grab readers' attention, not to tell the whole truth. In this sense, they've done a good job on Bank Governor Mervyn King's comments about fiscal policy to the Treasury Select Committee yesterday. "Mervyn King warns that spending cuts and tax rises are needed," says the Telegraph. "Investors could shun Britain over its rising debts," says the Mail. "King steps up demand to curtail UK budget deficit," says Bloomberg. "King hits at Treasury policy," says the FT.