Economy

Something astonishing happened in New Jersey last week. A majority Democratic legislature and a Republican governor agreed on a measure that will cut benefits for the state's 750,000 employees and retirees. Like Wisconsin and other states that are being forced to deal with large budget deficits caused mostly by sweetheart deals struck in more prosperous times between politicians who need…

I'll make you a deal: I'll quit accusing Democrats of obstructing spending and entitlement reform when they quit obstructing spending and entitlement reform. Now we even have the nonpartisan, sterile, unflappable Congressional Budget Office virtually predicting a "fiscal crisis," yet the Democratic Senate hasn't passed a budget for 785 days. There ought to be a law.

Susan Haigh's report Friday evening on the current status of budget negotiations between Connecticut Governor Dannel Malloy and the state's public-sector unions contains two glaring errors which mar the entire enterprise. Haigh conveniently withheld the fact that the Nutmeg State's legislature has already approved $2.6 billion in new taxes over two years until her report's final paragraph,…

Washington Post staffer Hank Stuever started off with a fair point in his review of the new HBO documentary "Hot Coffee." But before his June 27 Style section front-pager was concluded, the Post TV critic was bashing conservatives and free marketeers for advocating tort reform.

I can't say that I'm up on what every state is doing, but it's hard not to notice contrasts between two trios of states singing decidedly different tunes: Wisconsin, Ohio and New Jersey, three states with recently elected conservative Republican governors, have either put their budgets to bed, or are on the verge of doing so, by cutting costs and not raising taxes. Connecticut,…

“Fiscal conservatism, in other words, comes with its own costs.” That sums up the lead story in Thursday’s National section by Michael Powell and Midwest bureau chief Monica Davey from Indianapolis, “The Indiana Exception? Yes, but...A State Averts the Worst of the Recession, But Its Success Comes at a Steep Social Cost.” It’s a major story, packed with statistics and charts and interviews,…

It took well over a year, but New Jersey Governor Chris Christie has gotten his way. Covering the story for the New York Times, Richard Perez-Pena seemed to alternate between shock and "Awww." His biggest journalistic distortion was understating the degree to which Christie needed -- and got -- Democratic Party help to pass legislation which, in Pena's words, "will sharply increase what state…

And why beholdest thou the mote that is in thy brother's eye, but considerest not the beam that is in thine own eye? -- Matthew 7:4 On a somewhat slow Thursday night, let's have a good chuckle.  On his MSNBC show this evening, Cenk Uygur jumped on a poll showing Paul Ryan with a 26% unfavorability rating to declare that America "can't stand" the Wisconsin congressman and that the 26%…

We all know how the story ended for the first "Sheriff of Wall Street," Eliot Spitzer. CNN hailed attorney Preet Bharara as the "New Sheriff of Wall Street" in a puff-piece Thursday afternoon, and one can only wonder if his career path will eventually take him to a prime-time slot at CNN as a Democrat mouthpiece. Bharara was nominated by President Obama in 2009 to be U.S. Attorney for the…

Talking to former Nightly News anchor Tom Brokaw on Thursday's NBC Today, co-host Matt Lauer touted low approval ratings for some newly elected Republican governors and theorized: "They went into office with messages of austerity. And now a year later, you look at their approval ratings and they're falling. Is this buyer's remorse?" A graphic appeared on screen showing Wisconsin Governor…

When the Associated Press's Paul Wiseman and Martin Crutsinger team up for a report on the economy, there's no limit to the comic potential. Today, in covering what the folks at Zero Hedge described as "Ben Bernanke's 'I Have No Idea Why The Economy Will Get Better But It Will' Speech" (transcript is at link), the AP pair may have set a new world record for most unused words one would expect…

Lawrence O'Donnell on Tuesday accused Congresswoman Michele Bachmann (R-Minn.) of being a socialist. "The Last Word" host, who has admitted on national television to himself being a socialist, did so by cherry-picking from an article published at the perilously liberal website "The Huffington Post" (video follows with commentary and full transcript at end of post):

The sub-prime mortgage bust has been the topic of much discussion in the media since late 2008. Unfortunately, given the left-leaning composition of most of America's elite newsrooms, very little of that discussion has focused on the federal government-backed mortgage bundlers Freddie Mac and Fannie Mae.

The MacIver Institute, a Wisconsin-based free-market think tank, has released a new video exploring the essential philosophy that underlies many liberal economic policies of late:the belief that the government, not the individual has the foremost right to the nation's wealth. Check out their new video with commentary by Rep. Paul Ryan after the break, and let us know your thoughts in the…