Economy

After hyping the "draconian" sequester cuts set to take place March 1, CNN kept up its frenzy on Tuesday afternoon by spreading government hysteria over the $85 billion spending reduction. Headlines sounded alarms like "Medicine, Food at Risk," "Travel Nightmare In the Making," and "U.S. justice system in jeopardy." "President Obama is warning of dire consequences for all of us if lawmakers…

It appears not everyone in America is as enthralled with Barack Obama's economic policies as his fans in the media. When NBC Tonight Show host Jay Leno made a joke about the president not understanding economics, the studio audience cheered, applauded, and whistled (video follows with transcript and commentary):

MSNBC's Chris Matthews is starting to get completely unhinged. On Tuesday's Hardball, he accused Republicans of using "Cold War CIA tactics to destabilize our own country" (video follows with transcript and commentary):

On the front of Saturday's Business section, New York Times economics reporter Annie Lowrey flatteringly quoted unlabeled left-wing French economist Emmanuel Saez, who may be the Times' favorite economist, in yet another hang-wringer on the evils of income inequality and the dreaded 1%: "Incomes Flat In Recovery, But Not For the 1%." In an October 2012 article Lowrey termed Saez, who favors…

Even though the upcoming sequester cuts amount to only $85 billion, compared to $16 trillion of U.S. debt, CNN hyped the deleterious effects of the cuts to the economy by comparing them to the recent asteroid that just missed earth. "Watch out. Like the asteroid headed to earth, they're coming. $86 billion in automatic budget cuts," anchor Carol Costello warned. And "draconian" was in the…

Instead of doing the work they were supposed to be doing last night -- i.e., following their publication's mission statement, which is (or maybe was) to "turn ... reporters (i.e., themselves) loose on the subject we love: national politics" -- Jim VandeHei and Mike Allen spent over 1,800 words whining. Their disingenuous complaint: The Obama administration supposedly has insurmountable…

Last Friday’s All Things Considered segment on NPR was a real treat because David Brooks was absent, and therefore, couldn’t be his squishy self alongside liberal columnist E.J. Dionne.  National Review’s Mona Charen, a real conservative, filled in for the New York Times pseudo-Republican, and effectively countered Dionne’s Obama cheerleading. The two were asked by host Robert Siegel to…

During yesterday’s edition of Fox News Sunday, Washington Post editor Bob Woodward, who wrote the book "The Price of Politics" on how Obama handled the debt-ceiling fiasco in 2011, explained again to his media colleagues that it was a White House initiative to use a hatchet with these budgetary matters in the form of sequestration. When Fox host Chris Wallace suggested the news media would…

Liz Sidoti's offering this morning at the Associated Press, which is clearly a serious competitor for Worst AP Item Ever, carries the "column" label. As such, I suppose we're expected to accept the idea that the "analysis" offered is hers alone. But you would think that the self-described "essential global news network" would have enough business judgment to review a reporter's work to make…

On Sunday, 35,000 protestors marched on the Washington Mall urging President Obama to reject the Keystone XL pipeline, giving the Washington Post’s Steven Mufson ample space to hype the march.  In the 20 paragraph expose, the Post fails to label the protestors as liberal once and does not include any quotes from supporters of the pipeline, instead choosing to hype their global warming hysteria…

Here's something to keep in mind in the context of the past several years, as well as during the current runup in gas prices: They're more than likely higher than the press's reported "national averages." On Friday, the Associated Press reported the following concerning gas prices: "The national average is $3.64 a gallon, up a cent and a half from Thursday, with the highest prices in…

On Friday, Renee Dudley at Bloomberg News exposed the contents of February 12 internal emails revealing that Walmart executives are worried -- very worried -- about sales during the first 10 to 14 days of the its most current fiscal period (mostly likely either the first 10 days of February if the company works with calendar months, or 14 days if it began the second period of the fiscal year on…

Anyone who thinks that setting a parody site of PolitiFact would be a good idea should reconsider. The site already parodies what a true fact-checking effort would look like on a nearly daily basis. On Tuesday, the site's Molly Moorhead evaluated Marco Rubio's claim during his State of the Union response speech that spending cuts involved in sequestration were originally the idea of President…

Ed Schultz was in seventh heaven, lionizing Elizabeth Warren [new first name 'Sheriff'] for the way she grilled financial regulators for failing to take big banks to trial. Just one teenie-weenie factoid Ed failed to mention: those two regulators he showed Warren scalding during his MSNBC show tonight were appointed by, yup, President Barack Obama.  View the video after the jump.