New from the Business & Media Institute
Whos Afraid of a Little Inflation?
Disco is just a party theme or a radio station playlist nowadays, but the media are clamoring about the 1970s. As several economists have pointed out, worries about widespread neo-Carter-era inflation based on higher gas prices are overblown and economically incorrect.
In the months leading up to the imminent announcement from special prosecutor Patrick Fitzgerald concerning “Leakgate,” there has been an endless stream of gloomy predictions from mainstream media representatives that indictments would destroy the Bush administration, and totally dismantle the president’s agenda for the rest of his second term. For example, as was reported here, David Gergen stated on yesterday’s “Early Show,” “If indictments are handed down, it's going to be a real blow to the administration and comes at a terrible time.” And, “If [Bush] were to lose Karl Rove, he'll lose a right arm. And it’s really hard to climb out of a hole without your right arm.”
By contrast, CBS’s Hannah Storm had Democratic strategist James Carville and Republican strategist Ed Rollins on “The Early Show” this morning, and the two high-profile pols didn’t agree with this assessment. In fact, both stated that if indictments are issued for Lewis Libby and Karl Rove which force them to resign, it could end up being a good thing for this White House (video link to follow):
The last casualty of the CBS Memogate scandal happened earlier today. Andrew Heyward, the long-time president of CBS News will no longer be directing the organization:
During an appearance on CNN's American Morning, Al Franken repeated once more his "joke" that Karl Rove and Lewis Libby will "definitely be executed" for their involvement in the CIA leak investigation. When asked by substitute host Zain Verjee during the 8:20 am interview about the investigation, Franken maintained that Rove and Libby had committed treason.
Zain Verjee: "So you, you and your other liberal friends really salivating the prospect of seeing an indictment here?"
Al Franken: "Well–"
The New York Times again portrays the far-left anti-war outfit IraqBodyCount as an objective source of casualty counts for civilians in Iraq.
The Washington Post downplayed the announcement of Maryland Lt. Gov. Michael Steele officially announcing his Republican campaign for the U.S. Senate seat of retiring liberal Paul Sarbanes. It appeared on page B-9. That's not at the top of B-9, either. It's below "Pr.
A New York Times editorial this morning referred to the results of the recent Iraq referendum as being “modestly encouraging”:
On ABC, which had time for a full piece from Terry Moran about the "potentially huge" story of Vice President Cheney's supposed role in the Plame case, anchor Elizabeth Vargas briefly noted how “in Iraq today, there was a milestone on the road to democracy: The official results show that a new constitution was ratified by an overwhelming margin.” That was it for the Iraqi constitution. ABC led with, as Vargas put it, the “terrible milestone” of 2,000 killed in Iraq. Viewers then saw two stories: Martha Raddatz on the anguish of Army medical personnel and Barbara Pinto on parents in an Ohio town who have lost sons in Iraq. (A summary of NBC Nightly News, which did report on the passage, as well as a transcript of Schieffer's presentation, follows.)
Monday morning, October 24, began with great conjuring of clouds and thunder claps about all the bad news about to land on President Bush. The gloom over the breakfast table was impenetrable, perhaps because the soothsayers all had partisan backgrounds. NBC brought on Tim Russert, former Democratic aide (Cuomo and Moynihan).
Two recent posts recount Franken's jokes about executions and offer video clips: On Letterman, Al Franken Jokes About Execution for Treason of Rove, Libby and Bush, and Al Franken's Rerun Rove and Libby Execution Remark Draws Laughter From Lauer.
Video excerpt of Olbermann/Franken in Real or Windows Media. (Full transcript follows.)