Bailouts

Liberal Economist Takes On Krugman: Federal Reserve Averted Depression NOT Obama
By Noel Sheppard | March 11, 2013 | 9:29 AM EDT

While you were watching Rand Paul's historic filibuster and the debate surrounding budget sequestration, an economic theory battle was waging between two of the nation's foremost liberal economists Paul Krugman and Jeffrey Sachs.

In his most recent salvo published at the Huffington Post Saturday, Sachs spoke heresy to Obama-lovers across the fruited plain including Krugman claiming that following the 2008 financial crisis, "It was the Fed, not the fiscal stimulus, which prevented a fall into depression."

Scarborough Smacks Down Krugman For Pompously Behaving Like a Sighing Al Gore
By Noel Sheppard | March 5, 2013 | 11:31 AM EST

As NewsBusters reported earlier, New York Times columnist Paul Krugman and MSNBC's Joe Scarborough had quite a heated discussion about the budget, debt, and the economy on PBS's Charlie Rose Monday evening.

Near its conclusion, Scarborough actually scolded Krugman for pompously behaving like a sighing Al Gore (video follows with transcript and commentary):

Krugman: Quoting What I Said in the Past Is an Ad Hominem Attack
By Noel Sheppard | March 5, 2013 | 10:25 AM EST

New York Times columnist Paul Krugman and MSNBC's Joe Scarborough had an at times heated discussion about budget deficits, debt, and the economy on PBS's Charlie Rose Monday evening.

At one point Krugman got so rattled by the facts that he actually said Scarborough quoting what he had said in the past was making an ad hominem attack against him (video follows with transcript and commentary):

Huffington Post Shocker: 'How Obama's Politics Led to Sequestration'
By Noel Sheppard | March 4, 2013 | 9:31 AM EST

For conservatives, it's been truly delicious the past few weeks watching previously devote Obamaites break ranks with their colleagues to finally tell the world that the emperor has no clothes.

A fine example Monday was the perilously liberal economist and media darling Jeffrey Sachs who published an article at the Huffington Post with the headline "How Obama's Politics Led to Sequestration":

Matthews: 'Has Obama Put Himself at Political Risk if the Big Cuts Do Not Wreak Havoc?'
By Noel Sheppard | March 3, 2013 | 7:43 PM EST

Chris Matthews asked a question Sunday that should truly offend people on both sides of the aisle.

During the syndicated program bearing his name, Matthews asked his panel, "Has President Obama put himself at political risk if the big cuts do not wreak havoc?" (video follows with transcript and commentary):

AP Shocker: 'Tax Bills For Rich Families Approach 30-Year High'
By Noel Sheppard | March 3, 2013 | 9:48 AM EST

The Left and their media minions spent a good part of the past two years claiming the rich don't pay their "fair share" of taxes.

Not according to the Associated Press which shockingly published a piece Sunday titled "Tax Bills For Rich Families Approach 30-Year High":

George Will: Obama Has 'So Gone Over the Top in His Rhetoric He’s Even Losing the Mainstream Media'
By Noel Sheppard | March 2, 2013 | 4:25 PM EST

Syndicated columnist George Will made a statement on the Laura Ingraham Radio Show Friday that should make people on both sides of the aisle and both ends of Pennsylvania Avenue take notice.

"I think the President has at long last so gone over the top in his rhetoric that he’s even losing the mainstream media" (video follows with transcript and commentary):

IBD: DOL Decision to Grant Hostess Workers 'Trade Adjustment Assistance' Is 'Corruption'
By Tom Blumer | February 25, 2013 | 12:37 PM EST

An Investor's Business Daily editorial on Friday confirmed a couple of items which seemed intuitively obvious but which I didn't prove on Thursday in my post (at NewsBusters; at BizzyBlog) about the Department of Labor's outrageous decision to grant unionized workers at now-liquidating Hostess Bakeries "Trade Adjustment Assistance" (TAA).

The first is that it will cost a lot of money, totaling an amount which appears to have a chance to come within striking distance of about half of the annual profits in the entire commercial baking industry. The second is that there is little if any evidence supporting DOL's finding that imports have seriously harmed the industry. Excerpts from that editorial (do read the whole blood-boiling thing), followed by a bit of analysis by yours truly, follow the jump.

Bartiromo on Sequester Panic: 'Wall Street Seeing This As Scare Tactics,' Stocks 'Near Record Highs'
By Noel Sheppard | February 24, 2013 | 3:00 PM EST

CNBC's Maria Bartiromo made a statement Sunday about all of the fearmongering concerning the looming budget sequester that people on both sides of the aisle should pay attention to.

Appearing on NBC's Meet the Press, Bartiromo said, "I think Wall Street is seeing this as scare tactics because if the market really believed that the economy was going to be paralyzed on March 1 we would not be trading near record highs" (video follows with transcript and commentary):

Gregory Asks LaHood: 'Do You Really Think Americans Think Government Can't Tighten Up a Bit?'
By Noel Sheppard | February 24, 2013 | 2:12 PM EST

As NewsBusters has been reporting this weekend, some media members have been surprisingly breaking ranks with President Obama concerning administration claims that the world will come to an end if budget sequestration goes ahead this coming Friday.

NBC's David Gregory also appears to be feeling the White House's position is overblown and asked Transportation Secretary Ray LaHood on Sunday's Meet the Press, "Do you really think Americans think that government can't tighten up a bit?" (video follows with transcript and commentary):

Crowley Busts LaHood: Post-Sequester FAA Budget $500 Million More Than 2008 When Planes Ran Just Fine
By Noel Sheppard | February 24, 2013 | 10:34 AM EST

When the Washington Post's Bob Woodward broke ranks with the Obama-loving media to correctly point out Friday that it was indeed the White House that originally proposed sequestration back in 2011, it was going to be interesting to see how many of his colleagues would follow suit.

On Sunday, CNN's Candy Crowley appeared to do so as she pressured Transportation Secretary Ray LaHood about whether or not the administration has "ginned up" the impact of the sequester in order to pressure Congress telling him at one point, "Your post-sequester total at FAA ops and facilities and equipment is going to be about $500 million more than 2008 and the planes were running just fine" (video follows with transcript and commentary):

Evan Thomas: Sequester 'A Failure of Leadership' By Obama - 'He's Just Playing Politics'
By Noel Sheppard | February 23, 2013 | 2:23 PM EST

Another liberal media member has broken ranks and pointed the finger of blame for the looming budget sequester on Barack Obama.

After the Washington Post's Bob Woodward correctly wrote Friday that sequestration was indeed the Obama administration's idea in 2011, former Newsweek editor Evan Thomas hours later said on PBS's Inside Washington this whole standoff is "a failure of leadership by the White House...[Obama's] just playing politics" (video follows with transcript and commentary):