Economy

Early each month, the Congressional Budget Office (CBO) issues its "Monthly Budget Review." Its purpose is to estimate and comment on the federal government's budget results for the previous month a few days before the Treasury reports its official results. CBO's most recent review, issued on Friday (2-page PDF), estimates that Uncle Sam's outlays during April amounted to $330 billion. If…

CBS announced on Friday its plans for a "special town hall meeting on the economy" featuring President Obama. Network personalities Bob Schieffer and Erica Hill will host the event. This announcement comes just over a month after the Democrat officially started his reelection campaign, and on the same week that the President's approval ratings on the economy reached a new low according to a CBS…

First quarter profits for American oil companies are jaw dropping. Exxon earned nearly $11 billion, up 69 percent from a year ago. Royal Dutch Shell PLC, Europe's largest oil company, announced it made $8.78 billion in the first quarter, a 60 percent increase over last year. Much of it, but not all, is due to higher gas prices, over which the companies have very little control due to our heavy…

The April jobs report showed 244,000 job gains, “surprisingly strong” numbers according to the Kansas City Star. Many national news outlets reported that jobs number as well as the rise in unemployment rate back to 9 percent in their headlines immediately reacting to the news. CNBC initially suggested that the unemployment rate “ticked” up because of higher participation in the labor force,…

Here's a non-rocket science question: If you expect a reduced harvest of wheat, corn, rice or any other commodity some time in the future, what would be the wise thing to do about your consumption today? I bet that the average person would answer: Consume less now so that more will be available in the future. But how in the world can people be encouraged to consume less now? Enter the futures…

How convenient. Via Editor and Publisher, the newspaper industry's Audit Bureau of Circulations, in issuing its March 31, 2011 circulation figures, tells us we shouldn't try to compare this year's numbers to last year's: Because of the new and redefined categories of circulation on this FAS-FAX report, ABC recommends not making any direct comparisons of March 2011 data to prior audit periods…

Economic growth in the first quarter was an abysmal 1.8 percent.  Last week, initial jobless claims increased by 25,000 from the previous week, up to 429,000.  The Federal government borrows $188 million an hour, or over $52,000 a second, just to keep up with President Obama's spending demands.  Despite almost a trillion dollars for Obama's and the Democratic Congress's stimulus, unemployment…

Yesterday evening (late afternoon West Coast time), Phil Bronstein at the San Francisco Chronicle informed his readers that one of its reporters had been banned by the Obama administration: The hip, transparent and social media-loving Obama administration is showing its analog roots. And maybe even some hypocrisy highlights.   White House officials have banished one of the best…

NPR's Ari Shapiro leaned towards supporters of the Obama administration's new "voluntary principles" to limit junk food ads to kids on Thursday's All Things Considered. Shapiro played three sound bites from backers, versus only one from a critic who blasted the proposal: "If the federal government decided to issue voluntary guidelines about what newsmen should say to avoid inflaming the public…

MSNBC's Chuck Todd rattled off a list of reasons to explain the sharp rise in the price of oil – none of which included Barack Obama's offshore drilling moratorium – and was "confused" about why anyone would blame the president for the prospect of $4 per gallon gasoline. On the April 28 "Daily Rundown," Todd suggested the Federal Reserve's quantitative easing measures and increases in global…

Last week I noted how the Washington Post published on page A5 a story about how Obama Treasury officials tried but failed to influence Standard & Poor's credit analysts from downgrading the U.S. government's credit outlook from "stable" to "negative." Today the Post buried on page A14 a story by staffer Zachary Goldfarb about a House of Representatives investigation into the matter:

In an interview with FishbowlNY Wednesday, CNN's Eliot Spitzer dismissed any claim to objectivity in his reporting and answered "I don't know" when asked if he is a commentator or a journalist. This came after he recently told the Media Research Center's Brent Bozell "I don't have a bias," on his CNN show "In the Arena." Spitzer told FishbowlNY that he doesn't know if he is a journalist or a…

Gosh, after Republican Governors Scott Walker and John Kasich succeeded in championing legislation curtailing many collective bargaining rights of unionized state and municipal employees in Wisconsin and Ohio, respectively, the establishment press had the meme all set. The GOP, conservatives, and Tea Partiers are enemies of labor and the middle class, while Democrats, liberals, and progressives…

CNN's Deborah Feyerick took the offensive Tuesday and emphasized the negative effects of New Jersey Gov. Chris Christie's cuts to education funding. Feyerick highlighted the plight of an illiterate kindergartner from a "high risk" neighborhood as an example of student who could be affected by budget cuts. The segment ran during the 8 a.m. EDT hour of Tuesday's "American Morning" on CNN. CNN…