Economy

Gosh, isn't it convenient that Associated Press reporter Jim Abrams, in a Wednesday evening dispatch ("Democrats say Obama should invoke 14th Amendment"), was able to find "some legal scholars" who believe that President Obama can invoke Section 4 of the 14th Amendment to the Constitution to ignore the nation's current debt ceiling and have the government go out and borrow more money, but "…

How have we arrived at this place where the fate of our federal budget — our economy, indeed our capacity to have a functioning federal government — seems to depend on what two men (the speaker of the House and the president) may or may not be secretly talking about in an interior room in the White House? Meanwhile, elected representatives and senators, kept ignorant of those life-and-death…

MSNBC's Martin Bashir not-so-subtly suggested Wednesday that House Speaker John Boehner (R-Ohio) is a "baby" who should "go the f*** to sleep" and let Democrats deal with the debt ceiling issue. Anchoring the afternoon program that bears his name, Bashir excoriated Boehner's latest deficit-reduction proposal, which he dubbed a "ludicrous lullaby," blaming the Ohio Republican for "this…

Rep. Jerrold Nadler (D-N.Y.) argued at a news conference with the Congressional Out of Poverty Caucus that the United States does not currently have a budget crisis.

I guess at Reuters, when you see that an economy can't meet normal benchmarks for success, you simply lower them, and pretend that success will come anyway. Over at the Associated Press a few weeks ago, in his write-up in the wake of the government's awful June employment report, Chris Rugaber correctly pegged the kind of economic growth it will take to get millions of currently unemployed…

House Speaker John Boehner and Senate Majority Leader Harry Reid have both released debt limit plans, but if House Republicans don't support Boehner's plan, they could be handing President Obama an easy victory. The debt limit debate has not only sharply divided Republicans and Democrats, but it might also be forcing a schism among Republicans who favor a permanent solution now versus…

New York Times columnist Paul Krugman on Tuesday said it was a "moral issue" for the press to censor conservative views about the debt ceiling. Quite shockingly, the Nobel laureate took to his blog to complain that the news media are being too fair and balanced in their coverage of this highly contentious issue:

Here's what President Barack Obama said about our high rate of unemployment in an interview with NBC's Ann Curry: "The other thing that happened, though — and this goes to the point you were just making — is there are some structural issues with our economy, where a lot of businesses have learned to become much more efficient with a lot fewer workers," adding that "you see it when you go to a…

If there's a reason why Dayton Daily News staff writer Drew Simon wrote his Tuesday morning story ("Seniors fear losing Social Security checks") other than to scare the elderly, I don't know what it is. Nowhere in his report did Simon say who was the first person to invalidly raise the specter of Social Security checks not going out on August 2 (it was President Barack Obama, in case you…

MSNBC's Chris Matthews Tuesday exposed his own debt ceiling hypocrisy without realizing it. As he absurdly asked his "Hardball" guests why America isn't having a "big debate" about what the federal government should pay for - like that's not what's happening at the moment! - he relayed how his parents balanced their household budget, but never once said anything about raising revenues. It was…

CNN's Wolf Blitzer put Rep. Jim Jordan (R-Ohio) on the defensive Tuesday in a testy interview on the debt ceiling, lecturing the congressman and asking provocative questions about any divides within the party on Capitol Hill. Blitzer told Jordan that "you've got to deal with reality now" after reporting that the Balanced Budget Amendment, a brainchild of House Republicans, failed in the…

Over the past few days, media coverage has been dedicated almost entirely to the debt negotiations between President Obama and more outspoken members of Congress. As the Los Angeles Times pointed out, this let slide an interesting statement by the self-described democratic socialist Sen. Bernie Sanders, who said, "I think it would be good if President Obama faced some primary opposition." For…

CBS's Michelle Miller leaned towards supporters of taxing junk food on Tuesday's Early Show, playing three sound bites from them and none from opponents. Miller only made one vague reference to the opposing side, and she immediately followed it by playing up the supposedly positive result of a tax: "While some say a new tax is the last thing we need, it could mean a healthier America." The…

During a roundtable discussion on the debt ceiling deadlock on his July 26 program, MSNBC host Dylan Ratigan, egged on by a former Durbin and Biden staffer-turned-lobbyist, argued that the bulk of the national debt was run up prior to the time President Barack Obama entered office, by Republicans: