Public discourse on AI has become polarized; exaggerated positions on AI in traditional and social media threaten the development of AI Literacy among the general public. In this article, I introduce the VET Framework, a method for categorizing AI discourse along the dimensions of valence, effectiveness, and trajectory. I show how this framework can be used to identify, compare, and critique prevalent narratives of AI Hype, AI Doom, AI Denial, and AI Normalcy. Using VET, I analyze how each of these four stances exaggerates some aspects of the current state and/or likely evolution of AI, and illustrate how the VET framework can serve as an AI Literacy tool by supporting the ``vetting'' of polarized AI discourse.