Economy

A study released Wednesday from accounting firm Ernst & Young, which estimated that the U.S. would lose 710,000 jobs if the Bush-era tax cuts on the highest income earners aren't renewed, apparently isn't newsworthy to CBS. The network's Tuesday evening and Wednesday morning newscasts omitted the study, which also predicted that the nation's already struggling economic output would decline…

On July 12, the Department of Health and Human Services' Administration for Children & Families, the group which administers the entitlement program known to most as "welfare" or "traditional welfare, issued an "Information Memorandum" entitled "Guidance concerning waiver and expenditure authority under Section 1115" (i.e., not "proposed guidance"). After navigating the thicket of…

Does MSNBC hype the bogeyman of racist "voter suppression" in a cynical ploy to alarm its liberal voter base? Only on days that end in "y." Once again, network anchor Andrea Mitchell discarded any pretense of journalistic objective and played a game of softball with a liberal activist today, helping the Urban League's Marc Morial to denounce "voter suppression" laws -- that is voter ID laws…

CNN's Erin Burnett, injecting her own opinion into her newscast, lectured Mitt Romney on why he should release more tax returns and pay more taxes, on Monday's OutFront. "Release the returns," she told Romney. "If there's a lot of tax shelters and some frankly incredibly low tax rates, significantly lower say than your 13.9 percent rate in 2010, Mitt, then say this: My tax rates were too low…

Left-wing comedian Stephen Colbert smeared Mitt Romney on his Comedy Central program on Monday, hinting that Bain Capital under his helm acted like a group of 19th century settlers that resorted to cannibalism. After noting how President Obama forwarded a claim by The Washington Post that Bain owned companies that were "pioneers" of outsourcing, Colbert snarked, "Who cares? Pioneers opened up…

The Jurassic Press is missing much in their reporting on the $50 billion bailout of General Motors (GM).  The Press is open channeling for President Barack Obama - allowing him to frame the bailout exactly as he wishes in the 2012 Presidential election.  The President is running in large part on the bailout’s $30+ billion loss, uber-failed “success.”  And the Press is acting as his…

One useful interpretation of a journalist's use of "some people say that" or "some argue that" without an accompanying reference to or quote from a subject matters expert is that such phrases really mean "in my opinion." This is the very likely case in a disingenuously headlined Associated Press story yesterday by Andrew Taylor concerning the standoff between the Republicans, who want the…

Charlie Rose did his best to avoid asking any tough questions during an interview of President Barack Obama and his wife Michelle that aired on Sunday's CBS Sunday Morning and Monday's CBS This Morning. Rose devoted over four straight minutes to the couple's summer vacation, family life, and marriage. He also touted the Democrat's ObamaCare law as "enormously successful," and wondered if it was…

Here's how a "Business Highlights" item at the Associated Press summarized the situation between Timothy Geithner and London banks whose officials had admitted to rigging the London Interbank Offered Rate ("Libor") on Friday evening: "The Federal Reserve Bank of New York released documents Friday that show it learned five years ago of big banks understating their borrowing costs to manipulate a…

Over the weekend President Obama once again demonized wealth creators, downplaying the success of entrepreneurs as something that "[s]omebody else made... happen": There are a lot of wealthy, successful Americans who agree with me — because they want to give something back.  They know they didn’t — look, if you’ve been successful, you didn’t get there on your own.  You didn’t get there on…

Democrats are at it again, claiming that Republicans, particularly House Republicans, are sabotaging the economy, while ignoring the quite effective job President Barack Obama has done to ruin the economy both on his own (regulatory and anti-fossil fuel hostility, wasteful green "investments," etc.) and with the help of Congressional Democrats when they controlled both Houses of Congress (…

Appearing as a panel member on Sunday's Face the Nation on CBS, Time magazine's Rana Foroohar - identified as assistant managing editor in charge of economics and business on Time's Web site - lamented that she was "sad" at how much taxes are being discussed as she asserted that "one thing that's not going to get us some kind of a growth boom is a tax cut," and then called for more government…

CNBC's Lawrence Kudlow on Sunday gave Fareed Zakaria a much-needed education on Barack Obama's energy policies. When the host of CNN's Fareed Zakaria GPS claimed the president deserved credit for the coming "shale revolution," Kudlow smartly replied, "He's giving none of the permits...He's a green energy guy. He's a Solyndra guy and he completely missed the boat on all of that stuff" (video…

"The only thing weaker than the economy is Mitt Romney's electoral skills." Such was actually said on CBS's Face the Nation Sunday by Rana Foroohar, Time magazine's assistant managing editor in charge of economics and business (video follows with transcript and commentary):