By Tom Blumer | November 13, 2015 | 6:02 PM EST

The federal government kicked off fiscal 2016 yesterday by reporting that its October deficit was $136.5 billion, 12 percent higher than the $121.7 billion shortfall seen in October 2014.

Single-month comparisons can be tricky because of timing differences, but the Associated Press's Martin Crutsinger noted that analyzing the results from this October and last October is an apples-to-apples proposition when he wrote that "In both years, Nov. 1 fell on a weekend, which required the government to mail out November benefit checks in October." But instead of diving into and comparing the two Octobers, the AP reporter devoted the vast majority of his writeup to virtual cut-and-paste regurgitations of previously published news about the 2015 fiscal year and projections for the next two years. He wrote just one sentence directly comparing any of the details in two October statements, and buried it at the end of his report.

By Tom Blumer | November 12, 2015 | 11:55 PM EST

The "fact-checking" press has become a parody of itself during the past several years.

It's not only because of their irritating penchant for putting statements by Republicans and conservatives under a twisted microscope while ignoring drop-dead obvious falsehoods delivered by Democrats and leftists. It's because, among other things, the fact-checkers often admit that a statement is true, but then proceed to essentially say, "So what?" They also take policy goals articulated by candidates, which may or may not come to pass, render an opinion that it can't be done, and then pretend that they've actually proven something. An example of each annoying habit was found in Tuesday evening's Associated Press "fact check" of statements made by Ted Cruz and Jeb Bush during the most recent Republican presidential candidates' debate.

By Tom Blumer | November 12, 2015 | 10:58 AM EST

Tuesday evening, Associated Press economics writers Christopher Rugaber and Josh Boak attempted to "fact check" statements made by candidates at the just-completed Republican presidential debate.

Claiming that "The fourth Republican presidential debate was thick on economic policy — and with that came a variety of flubs and funny numbers," the two writers botched at least half of the six points they tried to make. Their most obvious economic error concerned the impact of minimum-wage increases (I will cover two others in a future post):

By Tom Blumer | November 10, 2015 | 7:54 PM EST

Today's "I'm just making stuff up on the fly" award nominee is Martin Crutsinger at the Associated Press.

The AP reporter, named by National Review's Kevin Williamson as America's "Worst Economics Writer" in 2013, lived down to his designation in a Tuesday report on the Census Bureau's September Monthly Trade Inventories and Sales release. He described a sales increase which didn't come close to offsetting the previous month's decline as "robust," failed to note that the reported increase in inventories will likely increase third-quarter GDP while perhaps depressing the fourth quarter, and described a "major effort to work down an overhang" in inventories not found in the report he was covering. His most important miss, though, was failing to note that trade inventories remain dangerously bloated.

By Seton Motley | November 9, 2015 | 1:04 PM EST

The political definition of Cronyism is: government policy that favors one or more specific beneficiaries - at the expense of everyone else.  To wit: $80 billion of the 2009 “Stimulus” was wasted on “green energy” companies - 80% of whom were Barack Obama donors.  Amongst the parade of horribles contained therein: the government took money from energy companies - to fund competitors to their energy companies.  

Sadly, a $3.5-trillion-a-year federal government budget is filled to the rafters with nigh-endless Cronyism.  There’s so much to undo - one must triage and prioritize.  And while we work to reduce and eliminate, we most certainly should not create a whole new Cronyism - that will dwarf all the others combined. 

The Wall Street Journal (WSJ) late last week gave us a quintessential example of aiming at the tiny - while they have for years championed the huge.  Behold:

By Kyle Drennen | November 6, 2015 | 2:52 PM EST

In a humorous exchange during MSNBC’s 12 p.m. ET hour coverage of President Obama rejecting the Keystone Pipeline, Meet the Press moderator Chuck Todd and breaking news anchor Brian Williams mocked the idea that the long-expected decision was in any way a major new development.

By Tom Blumer | November 5, 2015 | 11:51 PM EST

Add Arizona's Meritus Health Partners to the growing list of Affordable Care Act co-op failures. The Daily Signal reports that this makes 11 of 23 such state Obamacare co-ops which will have closed their doors by the end of 2015 after three or fewer years in operation.

The Associated Press, which, along with most of the rest of the establishment press, has been playing aggressive defense on behalf of Obamacare since its passage and especially since Barack Obama's reelection in 2012, has no coverage of Meritus's crackup at its main national or "Big Story" site. Beyond that, readers will see after the jump that the AP's local stories about Meritus highlighted its association with ACA/Obamacare when things appeared to be going well, and buried it when they went south.

By Tom Blumer | November 3, 2015 | 5:37 PM EST

As is so often the case with such stories, one can tell how favorable or disappointing a government report on the economy was by whether a story about it is still present at the Associated Press's "Top Business News" page several hours after its release.

Today's news from the Census Bureau on September's factory orders and shipments, released at 10 a.m., was extremely disappointing. Thus, it is utterly unsurprising that Martin Crutsinger's AP story covering that report was not at the "Top Business News" page a mere six hours after its release (it likely came off even earlier, as I didn't check the page until just after 4 p.m.). The AP economics writer's coverage, though bit of an improvement over prior months' efforts, still left important gaping holes.

By Tom Blumer | October 31, 2015 | 10:47 PM EDT

On Thursday, the government reported that the nation's economy turned in yet another quarter of poor economic performance, estimating that its gross domestic product grew at an annual rate of 1.5 percent in the third quarter.

The business press almost universally downplayed the news, and told readers that the fourth quarter will be better. No one talked about how much the tepid growth of the past six-plus years since the recession officially ended has been sacrificed in the name of misguided and dangerous Keynesian stimulus. As is so often the case, an editorial at Investor's Business Daily did that, performing a job the press has consistently refused to do.

By Tom Blumer | October 31, 2015 | 9:17 PM EDT

Many of the state cooperative health insurers, or "co-ops," set up under the provisions of the Affordable Care Act, aka Obamacare, have gotten into serious financial trouble quite quickly. Almost half have cracked up completely. Specifically, as noted at Forbes.com on Thursday morning, "[O]f the 24 Obamacare co-ops funded with federal tax dollars, one (Vermont’s) never got approval to sell coverage, a second (CoOportunity) has already been wound down, and nine more will terminate at the end of this year."

Perhaps the most expensive such blowup to date has occurred in New York. An unbylined Associated Press blurb about how New York's co-op will be forced to close its doors in just a month, seen after the jump, is a perfect example demonstrating why the general public may never learn about Obamacare co-ops' track record of miserable failure:

By Tom Blumer | October 30, 2015 | 11:22 PM EDT

Here's what should be an easy question: With data which has already been seasonally adjusted, what's more important — a) the fact that an index is a) up by 3 percent in the past year or b) the fact that it has fallen 5 percent in the past four months?

The correct answer is obviously b) — unless you're a writer for the Associated Press whose mission is to convince readers that the housing market, despite clear evidence to the contrary, is just fine. Therefore, the AP's Josh Boak chose a):

By Tom Blumer | October 30, 2015 | 2:12 PM EDT

The government's Personal Income and Outlays report for September bore more evidence of a slowing economy. Consumer spending rose by only 0.1 percent, trailing expectations of 0.2 percent. That's troubling news, given that the optimists believe that strong consumer spending will supposedly drive stronger fourth-quarter economic growth.

Lucia Mutikani's coverage at Reuters made a common error in explaining the importance of consumer spending, made a significant technical error in describing the report's contents, and ignored a very disturbing item present in the government report's detail (related items are tagged [1], [2] and [3], respectively, in the excerpt following the jump; bolds are mine):