The media rarely complain about deficit spending when liberals are at the helm, doling out taxpayer dollars like candy from a parade float. But once Republicans are in control, journalists can’t wait to complain.
The February 2018 stock market correction was painful to watch, but the news media exaggerated the situation — piling on panic and blame with descriptions like “crash” and “freefall” — after ignoring most previous records.
The propagandists disguised as "fact-checkers" at the Washington Post unleashed pent-up frustration Wednesday when they evaluated President Donald Trump's February 5 claim that wages are, "for the first time in many years, rising." They gave Trump's claim its worst possible evaluation of "Four Pinocchios," i.e., a "whopper." Too bad for the Post that detailed work published by Reuters two days earlier had already debunked its evaluation.
At the New York Times on Saturday (Sunday's print edition), reporter Robert Pear seemed unhappy that the Trump administration is reining in an extra-legal tool used by the government's regulatory leviathan. Reading his article's headline — "Administration Imposes Sweeping Limits on Federal Actions Against Companies" — one would think that companies can now run rampant without fear of federal legal repercussions. That's nonsense.
On Monday, MSNBC’s Andrea Mitchell repeatedly redirected any coverage of President Trump’s infrastructure plan back to discussions about the domestic abuse allegations against former White House staffer Rob Porter.
The Dow Jones Industrial Average dropped by over 1,000 points by Thursday's closing and the folks at ABC News were eager to place the blame on someone during World News Tonight. That someone, of course, was President Trump and the much welcomed GOP tax cuts, which were responsible for generous bonuses and wage increases across the country.
On Monday, shortly after President Trump asked two employees at a suburban Cincinnati manufacturer to describe their plans for the $1,000 bonuses they had received, MSNBC's Katy Tur ridiculed them on Twitter. Tur considered $1,000 a pittance, and contended that the bonus money wouldn't genuinely help the employees involved achieve their stated goals. On Wednesday, Tur responded poorly to the outrage over her condescension by trying to change the subject.
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.
Two nights before the Philadelphia Eagles took home its first Super Bowl trophy, the networks were far more focused on stories related to the big game than to one measure of the U.S. economy. So pre-game stories still outranked the strong jobs report nearly 5-to-1.
When the Dow Jones Industrial Average closed down nearly 1,200 points on Monday, the three major network news outlets (ABC, CBS, and NBC) dedicated nearly 10 minutes of combined coverage to the drop when they began their evening broadcasts. 24 hours later, the market bounced back and closed with a 500-point rebound, but the networks spent roughly half as much time on the positive news.
Throughout the day on Tuesday, MSNBC’s anchors and correspondents lectured President Trump on the perils of touting a surging stock market, in the wake of Monday’s losses. However, all of the journalists at the liberal cable channel seemed to forget how often Barack Obama similarly took credit for stocks being on the rise during his administration.
While the early February market pullback has spooked some investors and already gained plenty of media attention, it illustrated all too well the broadcast networks’ tendency to cover bad economic news more than good. The networks skipped the vast majority of records as the market climbed throughout 2017 and the beginning of 2018.