By Noel Sheppard | February 7, 2010 | 1:10 PM EST

A rather shocking thing happened on Sunday's "Meet the Press": host David Gregory asked Alan Greenspan and Henry Paulson if it would be a mistake to let the Bush tax cuts expire.

Chatting with the former Federal Reserve Chairman and former Treasury Secretary, Gregory referenced Tuesday's Wall Street Journal article about what the impact of allowing these tax cuts to expire would be on the budget and the economy.

Gregory first asked Paulson and then Greenspan, "Is that a bad idea?" (video embedded below the fold with transcript, relevant section at 6:48):

By Jeff Poor | December 14, 2009 | 8:34 AM EST

In his 1981 inaugural address, former President Ronald Reagan said, "Government is not the solution to our problems; government is the problem." Nearly 29 years later, that still holds true according to CNBC "Mad Money" host Jim Cramer and former Federal Reserve Chairman Alan Greenspan.

Both Cramer and Greenspan were guests on NBC's Dec. 13 "Meet the Press" and although neither was making a vain effort to be nostalgic, but instead explained that Congress' deliberations over an "agenda" was creating uncertainty for business.

"I think the priority ought to be get rid of the agenda," Cramer said. "I hear the agenda over and over again from business people. In other words, Congress is stalled on health care. I favor universal health care, everyone does in this country. But Washington is killing job growth, not - and then trying to stimulate it small scale? How much does it cost to bring a new employee in? We don't know. We don't know what the health care will be. We don't know what the tax scheme will be."

By Mark Finkelstein | October 25, 2008 | 11:15 AM EDT
Who wrote the following?:
"Societies in which the few are allowed to fatten themselves without limit on the labor of many are not just."
A. Friedrich Engels
B. William Ayers
C. Michelle Obama
D. Timothy Rutten

Any of the answers would make sense, but the headline kind of gave it away. It was Timothy Rutten of the LA Times who penned that immortal line in his column of today.  In doing so, Rutten echoes other in the MSM, as here and here, who in the wake of the financial markets' travails indulge in a certain anti-capitalist chic.

Let's have some fun deconstructing the intrepid class warrior's musings . . .
By Noel Sheppard | August 1, 2008 | 10:47 AM EDT

Former Federal Reserve chairman Alan Greenspan spoke with CNBC's Maria Bartiromo Thursday, and although a number of press outlets reported his concerns about the economy being close to a recession, his comments about high oil prices being a function of speculation and lack of supply went largely unnoticed.

This boycott seems especially absurd as Congress is currently deadlocked on an energy bill that would offer Americans any hope of relief at the gas pump (photo courtesy Reuters).

With this in mind, Greenspan said the following on Thursday that should not only be relevant to media members, but also to our political leaders that are about to take a five week vacation without having come close to addressing America's energy crisis:

By Jeff Poor | March 26, 2008 | 5:43 PM EDT

If there was ever an obvious conflict of interest in economic reporting, this may very well qualify.

NBC chief foreign affairs correspondent Andrea Mitchell evaluated the housing crisis solution proposals of both Democratic presidential hopefuls Sens. Barack Obama (Ill.) and Hillary Clinton (N.Y.) on the March 25 "NBC Nightly News."

"Clinton was the first of the two to sound alarms about the subprime mess with a plan a year ago," Mitchell said. "Obama followed a week later with a call for a summit. Since then both have gotten more specific."

By Jeff Poor | January 15, 2008 | 3:58 PM EST

You might disagree with how he slashed the Fed funds rate during times of economic turmoil as Federal Reserve chairman.

You might have even disavowed him after showing his coziness with the Clinton administration throughout the 1990s. But after 18 years of public service, you can't deny that Alan Greenspan should have a shot in the private sector.

However, despite media accolades through four Republican and one Democratic administration, some in the media think he broke an unspoken rule by going to work as a consultant for a hedge fund. One CNBC report called it "unseemly." The January 15 Wall Street Journal even hinted he may be profiting from the housing crisis, something they suggested he caused.

By Jeff Poor | December 20, 2007 | 5:39 PM EST

So, GDP grew at 4.9 percent - the highest growth in four years.

By Brent Baker | December 17, 2007 | 3:38 AM EST
On Sunday's This Week, ABC's George Stephanopoulos pressed former Federal Reserve Chairman Alan Greenspan to agree on the wisdom of raising taxes. Stephanopoulos wondered “what would be wrong with letting the tax cuts for the top one percent expire?” and suggested that to “shore up” Social Security and Medicate that Congress “limit the tax cuts.”

Citing a Congressional Budget Office study, “which was just stunning to me,” Stephanopoulos recounted how “it said that in the last two years -- from 2003 to 2005 -- the increase in income for the top one percent exceeded the total income of the bottom 20 percent. Given that, what would be wrong with letting the tax cuts for the top one percent expire and plowing that money into education?” Following up, Stephanopoulos proposed: “If you have long-term problems in Medicare and then also in Social Security, wouldn't it make sense to, in addition to limiting them as I know you would like to do, to limit the tax cuts and shore up the programs in that way?” Stephanopoulos started the interview by summarizing John Edwards' claim that “average Americans are not winning in this current economy and the policies that we've been following for a long time are part of the reason.” Greenspan retorted: “His remedies will make it worse.”
By Paul Detrick | November 14, 2007 | 5:34 PM EST

As oil flirts with $100 a barrel, guess who is getting gold stars for reporting ... NPR.

By Jeff Poor | November 13, 2007 | 5:39 PM EST

What's another $500 taken out of your paycheck over the course of a year? It probably isn't much to global warming alarmists like Al Gore, but that's what it could cost you if legislation pending in the U.S. Senate is passed into law.

Does that $500 have your attention? Well, multiply that times every member of your immediate family.

By Jeff Poor | October 29, 2007 | 6:01 PM EDT

If you watched the October 28 CBS “Evening News,” you would probably have been expecting a rough ride today based on their reporting. The likely ousting of Merrill Lynch CEO Stanley O’Neal prompted CBS correspondent Randall Pinkston to tell viewers to expect the worst as far as the stock market goes.

By Jeff Poor | October 19, 2007 | 6:11 PM EDT

The similarities are eerie. On Oct. 19, 1987, the day of the Black Monday stock market crash there was trouble from the Iranians, a two-term Republican president nearing the end of his term and a network TV news media voicing warnings the American economy might be doomed. Except this day in 1987, the stock market dropped 508 points.