Budget

President Obama just submitted a $3.8 trillion budget proposal, the largest federal budget ever, which will come with a "record amount of red ink." The projected deficit of that budget would be $1.6 trillion, yet the networks didn't criticize him for being spendy. To put this in perspective: Obama is proposing a budget $700 billion larger than big spender Pres. George W. Bush's last budget. It's…

Only a liberal could imagine that addressing the federal deficit and creating jobs might be mutually exclusive. On MSNBC's Feb. 3 "Morning Joe," Chrystia Freeland of The Financial Times asked Sen. Debbie Stabenow, D-Mich., whether she agreed with President Obama's stated intention of addressing the deficit next year. "Senator, we've also heard from the president that next year - in his budget…

Historically, there are two kinds of White House reporters: those that confront officials with the strongest critique and demand a response (think ABC’s Sam Donaldson, who dogged Bill Clinton in the late 1990s just as he had Ronald Reagan in the 1980s); and those who see their job as simply repeating the White House spin of the day.Reporting this morning on the Obama administration’s push for…

Poor Barack Obama.  In becoming president he inherited the "hollow prize" of the United States of America.  That was the astounding theory suggested this morning by Melissa Harris-Lacewell.The Princeton professor of politics and African-American studies bemoaned the president's predicament on Morning Joe today.  Apparently this "hollow prize" theory is in vogue in certain circles, used to decry…

Cautioning the Obama administration's “deficit projections...are just that, projections,” NBC's Chuck Todd on Monday evening bought into the White House's claim that Democratic health care reform bills that would add millions to the system are actually spending reduction measures, as he warned: “If health care doesn't pass, because this budget assumes health care will pass, that's yet another $…

Less than two months after receiving a Nobel Peace Prize, the President is proposing a huge increase in war spending.Despite his campaign pledges to the contrary, Obama's new budget calls for expenditures associated with the wars in Afghanistan and Iraq to increase to levels only ten percent below the average of former President George W. Bush's last two years in office.Given the media's anti-war…

In his weekly address Saturday, President Obama promised to rein in the spiraling budget deficits citing three specific steps to meet this goal. Readers are encouraged to review his plan, and offer comments about its efficacy and probability of being implemented. An embedded video and full transcript of this address are below the fold:

Robert Reich must have nightmares about Fox News. Shoot, he must have triple locks on his doors and sleep under his bed out of fear that Roger Ailes will come and take him away. In a Monday column at Salon.com ("Is the President Panicking?"), Reich excoriated President Obama's proposed discretionary spending "freeze" -- a "freeze" that NewsBuster Julia Seymour noted fails to offset the spending…

On the soon-to-be canceled ‘It’s the Economy’ program on MSNBC on Thursday, co-host Contessa Brewer grilled Republican New Hampshire Senator Judd Gregg on his calls to reduce out-of-control government spending: “Which programs are you willing to cut? Are you willing to tell schools, no money for you?” Gregg shot back: “What an absurd statement to make. And what a dishonest statement to make.”…

On Wednesday's Countdown show on MSNBC, shortly before the beginning of the State of the Union address, as Keith Olbermann discussed the speech with Chris Matthews and Rachel Maddow, after Olbermann brought up the possibility that President Obama would give a divisive FDR-style speech, Matthews seemed to lament that such a speech would "spook" the middle class, and, as he credited the Democratic…

CRITICAL UPDATE AT END OF POST: Obama praised the 2009 budget when the Senate passed it!After President Obama told the nation during Wednesday's State of the Union address that he inherited the huge budget deficits befronting the country, Sen. John McCain (R-Ariz.) turned to Sen. Lindsey Graham (R-S.C.) and said, "Blame it on Bush."In reality, this was one of many Rep. Joe Wilson (R-S.C.) moments…

On the eve of President Obama's first State of the Union address, the lead story in Wednesday's New York Times by Jackie Calmes focused on Obama's abrupt transformation into a born-again deficit hawk: "Obama, On Own, To Set Up Panel On Nation's Debt."In a related video, Calmes played along with Obama's sudden about-face, claiming "the president wants to make deficit reduction a big part of his…

At the top of Tuesday’s CBS Early Show, co-host Maggie Rodriguez highlighted the latest attempt at populism by the Obama administration: “President Obama calls for a big spending freeze and focuses on plans to help the struggling middle class, but does he have the political support he needs?” Moments later, co-host Harry Smith introduced the story with a similar declaration: “President Obama will…

Two Democrats on Sunday blamed the soaring budget deficit on George W. Bush, and ABC's Terry Moran didn't challenge either one of them.First up on "This Week" was senior White House adviser David Axelrod who told substitute host Moran, "President Clinton left a $237 billion surplus, President Obama received a $1.3 trillion deficit." Moran didn't challenge this, nor did he press Sen. Robert…