Economy

Update (11:55 a.m. EDT): MSNBC anchor Thomas Roberts just mentioned the 62% spike in Pelosi's net worth, attributing it mostly to her husband's real estate dealings. As my colleague Noel Sheppard noted today, the media have largely ignored the fact that House Minority Leader Nancy Pelosi (D-Calif.) has seen an astonishing 62 percent spike in her net worth over last year. Yet in a June 16…

It is no longer a secret that President Obama's administration is willing to allow electricity prices to "necessarily skyrocket," in order to accomplish his green energy agenda. Although he has so far been unsuccessful at instituting cap-and-trade, Obama's Environmental Protection Agency (EPA) is hard at work running coal companies and consumers into the ground. Not that you'd know it from…

Last week, in a much-discussed, open, live, televised forum, Jamie Dimon, the CEO of JPMorgan Chase, asked Federal Reserve Chairman Ben Bernanke the $64 trillion question. While most commentators focused on the apt question, it was Bernanke's answer that shocked me when I heard it — and ought to shock the nation much more than it so far has. Question: "Now we're told there are going to be…

On the June 14 edition of NBC's "Today," President Barack Obama ascribed part of the blame for the high unemployment rate to ATMs, yet most media outlets continue to ignore the gaffe. "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," lectured Obama in an interview with NBC's Ann Curry. "You see it…

Christy Romero, the acting Special Inspector General for the TARP bank bailout program, told the House Financial Services Committee on Tuesday that the Dodd-Frank financial regulatory law may not end the “too big to fail” policy and the moral hazard surrounding it. Testifying before the House Financial Services Committee’s Financial Institutions and Consumer Credit Subcommittee, Romero said…

As has been the case virtually from the beginning, the Associated Press's Scott Bauer has been clearly unhappy with 2011 Wisconsin Act 10, commonly known even to the Wisconsin Supreme Court as the "Budget Repair Bill." Today, the court ruled that the law as enacted by the Badger State's legislature and signed by Governor Scott Walker can go into effect on July 1. Looking back at what's…

CBS hounded four Republicans from the left during a town hall on the economy which aired on Tuesday's Early Show. Bob Schieffer, Erica Hill, and Rebecca Jarvis pressed Reps. Paul Ryan and Allen West, Senator Tom Coburn, and South Carolina Governor Nikki Haley to consider tax hikes to deal with the deficit. Schieffer also specifically accused the three members of Congress of "doing nothing" to…

If I'd heard the following words, instead of reading them, I might have assumed they were being delivered by a President Obama impressionist on "Saturday Night Live." But the words were from Obama himself in his latest weekly radio address. "I wish I could tell you there was a quick fix to our economic problems," he said. "But the truth is we didn't get into this mess overnight, and we won't…

In an interview with President Obama on Tuesday's NBC Today, co-host Ann Curry fretted over Republican calls for spending cuts before raising the nation's debt limit: "Do you think they're bluffing, given how financially disastrous it would be for the United States not to have the debt ceiling raised? And are you willing to make deep spending cuts?" Obama laughably claimed: "Well, keep in…

UPDATE AT END OF POST: Headline changed to "Goofy." The next time one of your liberal friends tells you there isn't any bias in the media, show him or her the following headline published Tuesday by CNN Money's senior writer Jeanne Sahadi. "Wingnut Debt Ceiling Demands" was actually placed directly above a picture of Republican presidential candidate Newt Gingrich, former Alaska governor…

To say that the statistics concerning new business formation during the past few years haven't been very good would be a major understatement. USA Today's Scott Patterson deserves some credit for even looking at the topic. It is tailor-made for neglect by the rest of the establishment press. When government policies lean towards lower taxation and regulation, policies left-leaning journalists…

Imagine a Republican president giving a speech on tough economic times in which he claimed that the plight of Americans who are hurting is what is on his mind every day as he walks to the Oval Office. Imagine that same Republican president, in that same speech, bragging that he has "a better plane" and "a bigger entourage" than when he was a candidate.  Now imagine the howls from the MSM about…

While grilling former Pennsylvania Senator and presidential hopeful Rick Santorum on NBC's Sunday Meet the Press, host David Gregory was skeptical of the idea that Americans should be able to choose their own health care plan: "They're better off with the freedom that they've got in the vagaries of the private insurance market?" Gregory was responding to Santorum's criticism of ObamaCare: "[…