Economy

Perhaps President Barack Obama might have preferred New York Times columnist Tom Friedman to reserve these comments for their golf outings together, but has Friedman recognized this path toward a larger government is unsustainable? On MSNBC's March 5 "Morning Joe," host Joe Scarborough recounted his childhood in the early 1970s and the poor economy. He explained there was a different focus -…

When a political editor declares that U.S. Senator Jim Bunning (R-Ky) makes "even former Vice President Dick Cheney seem warm and fuzzy," you know that the mainstream media are reaching for the long knives.  Associate editor of The Hill A.B. Stoddard wrote in yesterday's "Bunning’s gift to Dems:"Bunning’s blowup was indeed a gift to bewildered Democrats on more than one level. It portrayed…

It's been proven time and again in over two hundred years of recorded American history, but some people still don't get it - the government is not the most efficient spender of money. On CNBC's March 4 "Squawk Box," in the midst of reporting jobless claims and productivity data, the network's senior economics reporter Steve Liesman offered the suggestion that since some banks were increasing…

In the past 72 hours, NewsBusters has called attention to roughly 10 print and broadcast media items ripping into Jim Bunning for daring to stop a spending bill in the Senate. Beyond that, it appears that no establishment media outlet has raised a few self-evident points made in a Wednesday Wall Street Journal editorial, proving yet again that the paper's editorials are as much a real news…

ABC on Wednesday continued to berate Senator Jim Bunning for daring to hold up a $10 billion spending bill, despite the fact that the Kentucky Republican has since allowed the unemployment legislation to pass. Reporter Jonathan Karl piled on, "Even after the deal was struck, Democrats lashed out at Bunning for causing such a mess." Karl replayed video of him harassing Bunning on Capitol Hill and…

Just days after Rick Sanchez and his producer asked for "hardship stories" online, CNN's Anderson Cooper 360 program on Tuesday looked for people who have lost their unemployment benefits due to Republican Senator Jim Bunning's opposition to a $10 billion emergency measure which would have extended benefits.The unsigned entry on the AC360 blog, which was posted on Tuesday afternoon, first…

It's not a secret that billionaire investor and Berkshire Hathaway (NYSE:BRK.A) CEO Warren Buffett is a supporter of President Barack Obama - having endorsed and raised money for him. But has Buffett's approval of the president mirrored the declining marks he's getting from the rest of America?   No, according to Buffett, Obama's earned "high marks." Buffett appeared on CNBC's March 1 "Squawk…

Fareed Zakaria used his CNN program Sunday to campaign for a national sales tax.This came just two weeks after he absurdly accused the tax cuts implemented by George W. Bush of being the biggest cause of today's budget deficit. Zakaria began the most recent installment of "GPS" by first discussing how great a country America is, but "we have big problems.""[T]he biggest one, by far, the one to…

Yesterday (at NewsBusters; at BizzyBlog), I noted Fannie Mae's $72 billion loss announcement and the ward of the state's simultaneous $15.3 billion handout request. Late Friday was also the occasion for the release by the Treasury Department of the "2009 Financial Report of the United States Government." The report shows how seriously the government's financial situation deteriorated during the…

After the closing bell on Friday, just in time for everyone to stop paying close attention, mortgage behemoth and ward of the state Fannie Mae ("Fan") released its fourth-quarter and full-year financial results. Its press release (PDF) informs us that its $74.4 billion loss in 2009 (inclusive of dividends paid to the government) followed a $58.8 billion loss in 2008. For those keeping score at…

UPDATE: Fantastic video analyzing two weeks in the life of Keith Olbermann and his (nearly all white) guests below the fold.  From February 4 through February 18, Keith had 48 guests - and TWO were black.  One, actually - the Washington Post's Eugene Robinson appeared twice.  4% - now THAT'S diverse.  Bravo and kudos to Broliath for said stellar production. The Place for…

Earlier this afternoon, NB's Tim Graham noted how NPR's Robert Siegel and Pew Research pollster Andrew Kohut spoke approvingly of "Millennials" as being "less 'militaristic' and less religious" than their elders.At end of his post, Graham noted that Siegel and Kohut "somehow" forgot to discuss the key political finding in the poll, namely that the demographic's 32-point favoritism towards…

> CNN apparently missed the irony of using a segment called "Broken Government" to demand that the government address child hunger. "Talk about mad as hell," CNN's Kyra Phillips said, introducing the Feb. 25 segment. "Every day a child goes hungry, a food pantry struggles, a parent loses a job. Today: Broken Government and hunger in America." Phillips suggested that the government should be…

The adverb that begins with a "U" made yet another appearance yesterday in connection with an economic report. The related noun that begins with an "S" came along for the ride. The news concerned sales of new homes. They fell "Unexpectedly" to their lowest level since 1963, when the U.S population was about 40% lower. The decline was a "Surprise" to economists, who had predicted an increase. It…