The Federal Reserve and the Conference Board both issued positive progress reports about the U.S. economy last week. Neither got a peep from the broadcast networks on those days. In fact, on April 18 and 19, the evening news broadcasts on ABC, CBS and NBC included just one economic story — and it wasn’t about either of those positive economic updates
When World War II ended, Washington, D.C.'s population was about 900,000; today it's about 700,000. In 1950, Baltimore's population was almost 950,000; today it's around 614,000. Detroit's 1950 population was close to 1.85 million; today it's down to 673,000. Camden, New Jersey's 1950 population was nearly 125,000; today it has fallen to 77,000. St. Louis' 1950 population was more than 856,000; today it's less than 309,000.
Some people have called for a balanced budget amendment to our Constitution as a means of reining in a big-spending Congress. That's a misguided vision, for the simple reason that in any real economic sense, as opposed to an accounting sense, the federal budget is always balanced. The value of what we produced in 2017 -- our gross domestic product -- totaled about $19 trillion.
With the Dow Jones Industrial Average taking another nosedive on Monday, the MRC’s Rich Noyes joined Neil Cavuto’s eponymous Fox Business Network program to discuss the findings of a study by MRC Business’s Julia Seymour that found a massive double standard from the major broadcast networks on stock market increases vs. tumbles.
We are a nation of 325 million people. We have a bit of control over the behavior of our 535 elected representatives in Congress, the president and the vice president. But there are seven unelected people who have life-and-death control over our economy and hence our lives -- the seven governors of the Federal Reserve Board. The Federal Reserve Board controls our money supply. Its governors are appointed by the president and confirmed by the Senate and serve 14-year staggered terms.
My recent columns have focused on the extremely poor educational outcomes for black students. There's enough blame for all involved to have their fair share. That includes students who are hostile and alien to the educational process and have derelict, uninterested home environments. After all, if there is not someone in the home to ensure that a youngster does his homework, has wholesome meals, gets eight to 10 hours of sleep and behaves in school, educational dollars won't produce much.
CBS’s Superior Donuts tried to get into the Christmas spirit with their Monday, December 11, episode “Homeless for the Holidays,” but their outright disdain for capitalism and businesses quickly put a damper on things. Of course, the show known for its extremist liberal views can’t go one episode without being a Scrooge to its conservative viewers (if there are any left).
The largest threat to our prosperity is government spending that far exceeds the authority enumerated in Article 1, Section 8 of the U.S. Constitution. Federal spending in 2017 will top $4 trillion. Social Security, at $1 trillion, will take up most of it. Medicare ($582 billion) and Medicaid ($404 billion) are the next-largest expenditures. Other federal social spending includes food stamps, unemployment compensation, child nutrition, child tax credits, supplemental security income and student loans, all of which total roughly $550 billion.
Operation Choke Point, one of the more disgraceful episodes in U.S. law enforcement and regulatory history, officially ended last week. Naturally, since it was entirely a stultifying enterprise of the Obama administration, the establishment press, as it almost universally has since its inception in 2013, has ignored its demise.
What has been reported by many but ignored by the Big Three Networks (ABC, CBS, and NBC) is that Jane Sanders, the wife of Senator Bernie Sanders, is currently under an “accelerated” investigation by the FBI for bank fraud. And on Saturday, The New York Times was openly worried about what it could do for the Senator’s chances in upcoming elections. The investigation “is threatening to take some of the luster off the senator’s populist appeal,” wrote Yamiche Alcindor, national reporter for the paper.
The Washington Post published an extensively detailed investigative report on Monday that documented the ongoing and accelerating FBI probe into the alleged bank fraud of Jane Sanders. “A federal investigation into a land deal led by Jane Sanders, the wife and political adviser of Sen. Bernie Sanders, has accelerated in recent months,” they wrote. But the Big Three Networks (ABC, CBS, and NBC) had no interest in sharing the report that’s highly damaging to the socialist Senator. Instead, they focused on smearing President Trump and Senate Republicans.
Greg Caskey is a 27-year-old Abington, Pennsylvania, native who is a social sciences teacher at Delaware Military Academy. The academy is a thriving charter high school in Wilmington, Delaware, that was founded in 2003 by two retired military officers, Charles Baldwin and Jack Wintermantel.