Economy

In the run-up to the passage of Obamacare in March 2010, Nancy Pelosi infamously told a friendly audience: "We have to pass the bill so that you can find out what is in it." Fifteen months later, we still haven't learned everything about a bill which no honest congressperson or senator can claim to have read and fully understood. Today's "discovery" is that some couples in their early 60s…

New York Times economics reporter Catherine Rampell’s front-page story Saturday on Arizona imposing limits on federal unemployment benefits it provides, “For  Want of a Word, Arizona’s Jobless Lose Checks,” is the latest Times story to fiercely defend unimpeded spending on unemployment benefits. Previously this year, Times reporters had questioned  “deepest and most far-reaching” cuts in…

New York Times reporter Jeff Zeleny followed Republican presidential candidate Mitt Romney to Tampa and filed “Democrats Scowl at Romney Joke” for Friday's edition, treating as a weighty matter a harmless joke by the candidate to a group of unemployed people as one of a series of “occasionally awkward...off-the-cuff remarks.” Yet the Times has remained silent as President Obama has reeled off a…

CNN's Fareed Zakaria regurgitated his conservative-bashing Time magazine piece on his Sunday show Fareed Zakaria GPS. He opened up his program with the same barrage against conservatives that he launched in Time on Thursday, namely that today's conservatism is woefully divorced from reality like the Marxists of the 19th century. Zakaria writes that "conservatives now resemble the old…

I am so sick and tired of people defending Barack Obama and the disastrous policies of the two years the Democrats had control of both houses of Congress. If anybody ever had a reverse Midas touch, it is this president. Everything he touches turns to debt. I sincerely want anybody who wants to defend Obama to respond to this column, but I don't want to have even one response that mentions…

On NBC's Sunday Meet the Press, host David Gregory took on an alarmist tone as he worried that any significant attempts to address the nation's enormous debt could lead to violence: "Look at the images that came out of Greece this week as you've got...big cuts in public spending. And this is the result, rioting in the streets....Could we have that kind of reaction here?" Gregory posed that…

Update, June 20, 12:30 p.m.: Revised to reflect another AP math error not caught the first time around. Update 2, June 20, 3:20 p.m.: The AP has issued a correction indicating that lost sales taxes are $23 billion and teachers' salaries which could be paid are 460,000. The contradiction explained below about California's claim that it is failing to collect only $200 million (less than 1% of…

Gosh, I would have thought that someone in Wisconsin's or America's labor movement would have caught Scott Bauer's clear June 15 understatement of the net pay hit many unionized public sector workers in the Badger State will be taking as a result of 2011 Wisconsin Act 10, commonly known as the "Budget Repair Bill," once the law's provisions become effective on July 1. That error is in the…

Newsweek's Evan Thomas on Friday tried to float the typical media meme that neither Party is doing anything to solve our nation's budget crisis. Unfortunately for him, fellow "Inside Washington" panelist Charles Krauthammer accurately noted that the Republicans have offered a proposal to cut $6.6 trillion in the next ten years, "but the Democrats have done nothing except to demagogue the plan…

It seems these days Bill Maher puts his foot in his mouth virtually every time he's in front of a camera. On Friday's "Real Time," the holier than thou host actually said liberals never talk about nationalizing the oil industry minutes before calling former Alaska governor Sarah Palin and Congresswoman Michele Bachmann (R-Minn.) a couple of "crazy" "know nothings" "who both get their…

Syndicated columnist Mark Shields said Friday that today's low income tax rates are "fundamentally un-American." Such happened on PBS's "Inside Washington" (video follows with transcript and commentary):

Both President Obama and leading Republican candidate Mitt Romney got into hot water for supposedly making insensitive comments about the economy this week. But CNN's response offers a textbook case of media bias, as the supposedly-objective news network virtually ignored Obama's gaffe while trumpeting Romney's comment. President Obama poked fun at the ineffectiveness of his own stimulus…

Thursday morning, initial weekly unemployment claims as reported by Uncle Sam's Department of Labor came in at a seasonally adjusted 414,000. It was 16,000 lower than the previous week's upwardly revised (as usual) number, but certainly no indicator in and of itself of meaningful improvement. The housing industry data really wasn't any better. True, the seasonally adjusted figures from the…

For years America's media have been enthralled by anything that supports the theory that carbon dioxide is warming the planet leading to an imminent cataclysm if governments don't regulate this partially man-made gas. By contrast, reports that might undermine CO2's importance in global warming, like the following released Tuesday by the AAS Solar Physics Division in Las Cruces, New Mexico,…