Economy

The Morning Joe crew, along with much of the liberal media, has lately been ringing the debt-ceiling alarm, saying that a failure to raise the debt ceiling by October 17 would cause a default that would devastate the U.S. economy. But on Friday’s Morning Joe, CNBC’s Michelle Caruso-Cabrera stepped onto the set and took a wrecking ball to the wall of hysteria surrounding a possible default.…

Are you happy now, Republicans? You went and forced the president to cancel his trip to Asia and with it an important foreign policy overture. That's the message Time magazine is sending readers with Michael Crowley's October 4 post, "Shutdown Dents Vital Obama Foreign Policy Goal," which was plugged on the Time.com front page with a photo of a frowning President Obama given the teaser headline…

While the media are busy painting Republicans -- particularly Tea Party-friendly conservatives in the House -- as the legislators who are ultimately responsible for the government shutdown, they are failing to note that "[t]he Democrats and the president have offered nothing" as a counteroffer on the continuing resolution to fund the government, NewsBusters publisher Brent Bozell noted on the…

  The three network morning shows on Friday worried about President Obama and the fact that he had "no choice" but to cancel an Asian summit as the government shutdown drags on. On ABC's Good Morning America, Jon Karl lamented, "These were two significant summits in Brunei and Indonesia. The White House says he could legally have gone, but he needs to be here to push for reopening the government…

The liberal media are truly becoming unhinged. On NPR’s On Point Thursday, New York Times columnist Thomas Friedman actually equated Republicans with the terrorist group Hezbollah (transcript follows with commentary, audio available here, and via NPR with relevant section at 13:48):

On Thursday, MSNBC's Chuck Todd, in the introduction to his "Daily Rundown" program, characterized both the response to the Obama administration's barricading of the World War II Memorial and Harry Reid's response to a question about helping children with cancer by funding the National Institutes for Health ("Why would we want to do that?") as "manufactured outrage." World War II ended in 1945,…

“U.S. Government Shutdown Threatening Housing Recovery,” screams the Oct. 2 headline of a shutdown scare screed in Bloomberg BusinessWeek. Wade into the story, however, and we see that what’s really at hand is a mere delay of processing of mortgages because of some employees furloughed at the Federal Housing Administration.

Sometimes Congressmen say the darnedest things. Toward the end of a heated debate with CNN's Carol Costello about the government shutdown and ObamaCare, Rep. Todd Rokita (R-Ind.) brought up the media as part of the problem adding, "Carol, you're beautiful but you have to be honest as well" (video follows with transcript and commentary):

Quick: how much were Social Security, Medicaid and food stamps cut by the sequester? Zero, you say?  Those programs were exempted from sequester cuts, and Medicare was reduced by only 2%? Correctomundo!   So what was Andrea Mitchell thinking when she claimed on her MSNBC show that the sequester "gutted" social programs? You tell me.  View the video after the jump.

Jay Leno clearly isn’t pleased with the government shutdown. On Wednesday’s Tonight Show, the host spent most of his opening monologue railing against the President and Congress concluding with him holding a sign up that read “F U Politicians” (video follows with transcript and absolutely no need for additional commentary):

Politico's Dylan Byers is determined to tell us that we didn't see and hear what we really saw and heard, and that Matt Drudge is a filthy liar (Update, 8:20 a.m., Oct. 3: as well as Real Clear Politics —"Reid To CNN's Dana Bash: 'Why Would We Want To' Help One Kid With Cancer?") for relaying what CNN's Dana Bash saw and heard — and reported. Today, after Senate Majority Leader Harry Reid…

As I noted in a previous previous post today (at NewsBusters; at BizzyBlog), a CNNMoney.com email tried to spin a 0.4% decline in the Dow Jones Industrial Average and tiny drops of less than 0.1% in the S&P 500 and the NASDAQ into proof that the government shutdown and the "looming U.S. default" were having awful effects on investors. Given that the ADP Employment Report today was a…

NASDAQ.com says that the Dow Jones Industrial Average closed down 58.56 points today. The S&P 500 lost 1.13 points, while the NASDAQ lost 2.96 points. In percentage terms, those losses were 0.39%, 0.07%, and 0.08%, respectively. Even though there's usually a large element of speculation relating to why the broad markets go up or down on any given day, the pretend know-it-alls at CNNMoney.…

  As Barack Obama wrapped up a speech from the White House on Tuesday, reporter Jon Karl of ABC actually shouted a tough question at the President, wondering, "...If you won't negotiate, how can you get a solution? How can you bring an end to this if you won't talk to the congressional leaders?" [See video below. MP3 audio here.] Anchor George Stephanopoulos noted that "Obama ignor[ed] a…