By Curtis Houck | July 1, 2015 | 2:22 AM EDT

MSNBC host Chris Hayes devoted a segment during Monday’s All In to commenting on the financial crisis in Greece and chose not to attack the left-wing government or any of the previous governments for their spending habits, but rather laid blame at the feet of “morally monstrous” European banks and others in the Eurozone for grinding “Greece into misery” in “a sadistic exercise in sheer will to power.”

By Curtis Houck | June 29, 2015 | 11:25 PM EDT

In their coverage Monday night of the debt crisis in Greece, ABC and NBC refused to label the current Greek government as socialist, far-left, or even left-wing with ABC neglecting to even explain why Greece has found itself in such a precarious position as they stand to possibly default on their billions of dollars in debt and/or leave the Eurozone. In contrast to both networks, the CBS Evening News offered both the most comprehensive coverage and the only label for the Greek government. 

By Tom Blumer | May 30, 2015 | 9:32 PM EDT

Facts are such inconvenient things. Especially financial facts and figures.

On Tuesday, Rebecca Shabad at the Hill composed a 34-paragraph report entitled "Washington is ready to spend." Really? When have Congress or the White House not been ready to spend? Oh, I get it. She really means that they're getting ready to spend more. How much more? Readers will search in vain for anything beyond a one-paragraph discussion of a "$51.4 billion House bill funding justice" discussing two tiny items amounting to less than $100 million. That bill represents a whopping 1-1/2 percent of the roughly $3.5 trillion in annual federal spending. Excerpts follow the jump (bolds are mine):

By Tom Blumer | April 22, 2015 | 3:00 PM EDT

So when is a recession not a genuine recession? Apparently when it's "technical."

Unfortunately, the term "technical recession" appears to be well on the way to devolving into what has long been considered the real definition of a recession for the purpose of discounting its validity.

By Tom Blumer | January 23, 2015 | 6:51 PM EST

In a report on the upcoming Greek elections, an unbylined Friday afternoon Associated Press report dusted off words seldom seen in their dispatches, using the term "radical left" twice and the word "radical" separately once for good measure.

The almost never seen terms — virtually invisible in decades of descriptions of longtime radical leftists like Fidel Castro, the late Hugo Chavez or lefty legends like the late Che Guevera — appeared in describing the party and policies of Greece's Syriza party and its leader, Alexis Tsipras. Syriza and Tsipras appear to have winning momentum going into Sunday's balloting. Excerpts follow the jump (bolds are mine throughout this post):

By Rich Noyes | January 1, 2015 | 9:25 AM EST

In the 1980s and ’90s, journalists passed along expert predictions of the world as they thought it would be in 2015. Now that the New Year has finally arrived, it might be fun to recall a few of those forecasts: starvation due to overpopulation, troops keeping women out of abortion clinics, and a U.S. government drowning under massive revenue surpluses.

By Tom Blumer | November 21, 2014 | 6:04 PM EST

Old habits die hard at the Associated Press, aka the Administration's Press — especially when those old habits help Dear Leader's regime look better, or less awful, than it deserves.

It's been eight days, but it's still worth a look. On November 13, the government released its Monthly Treasury Statement for October, showing that Uncle Sam ran a $122 billion deficit. In his coverage of that statement's release, the AP's Martin Crutsinger, in the wire service's monthly effort at miseducating the masses, wrote the following:

By Tom Blumer | November 11, 2014 | 8:50 PM EST

Far be it from me to talk a leftist columnist out of an ignorant, self-satisfied position which might, if anything, cause his fellow travelers to hit the accelerator a little less aggressively in future political campaigns.

At the Atlantic on Monday afternoon, Richard Reeves, policy director of the Center on Children and Families at the Brookings Institution, claimed that the left shouldn't be so glum after Tuesday's election results, because "progressive policies are working." His very first graph makes a mockery of his claim:

By Tom Blumer | October 30, 2014 | 11:51 PM EDT

An unbylined "Q&A" column at the Associated Press yesterday began with the following false declaration: "The $4 trillion experiment is over." That just isn't so.

Maybe the Federal Reserve is done building up its debt holdings — that is by no means certain — but the "experiment" known as "quantitative easing," or "QE," won't be over until the Fed fully unwinds those balances. In the meantime, it has unwarranted leverage over the stock and bond markets. Fed Chair Janet Yellen has what appears to be a de facto veto over Washington policies she doesn't like should she decide to use her leverage in that manner. The rest of the AP item wasn't much better, particularly how it wormed around the reality that if the Fed wishes to avoid winding down its balances, it's going to have to keep buying Treasury and mortgage-backed securities as current holding mature:

By Tom Blumer | October 21, 2014 | 1:24 PM EDT

Josh Lederman's report this morning at the Associated Press, aka the Administration's Press, treats President Barack Obama's return to Chicago as a trip down memory lane: "Obama got glimpses of a simpler time when his life was for the most part, normal: the unpaid bills on his desk, the volunteers who pitched in on his first Senate campaign, the day he marched in seven Fourth of July parades."

The reference to "unpaid bills" is from the President's remarks at a DNC event at a private home in Chicago. But the speech transcript now posted at the White House web site has scrubbed the related passage, as Daniel Halper at the Weekly Standard noted early this morning. There may have been an additional development since that post appeared.

By Tom Blumer | October 19, 2014 | 12:27 PM EDT

The White House is apparently feeling pretty full of itself over the fiscal 2014 federal budget result it has just reported.

Reacting to the news that this year's deficit was "only" $483.4 billion, White House budget director Shaun Donovan crowed that "This is a return to fiscal normalcy." The press, of course including Andrew Taylor at the Associated Press, has accepted all of this with little challenge, including the administration's misleading "percentage of GDP" assertions, which completely ignore how much more the national debt has grown than the reported budget deficits. Taylor went one step further, blatanty deceiving readers as to how much money the federal government borrows for every dollar it spends.

By Tom Blumer | October 11, 2014 | 4:07 PM EDT

The federal government's latest fiscal year ended on September 30. The final Monthly Treasury Statement for the fiscal year, will likely be published during the coming week or possibly a few days later.

From time to time, commenters at NewsBusters have pointed that Uncle Sam's reported deficits don't represent the whole story. They are certainly right. While the press is all excited over this week's Monthly Budget Review released by the Congressional Budget Office, which contain an unofficial but probably accurate estimate that the fiscal 2014 budget deficit was "only" $486 billion, the national debt has grown by far more than that.