Economy

In a welcome change of pace, Good Morning America on Saturday provided a skeptical look about a glut of new laws that have gone into effect in 2010. ABC correspondent Laura Marquez warned, "From the serious to the frivolous, legislators passed more than 40,000 new laws." She chided, "And some argue telling people how to behave isn't part of the legislator's job description." The morning show even…

Despite six months of positive economic growth, Treasury collections are continuing what is now a serious two-year downward slide. In August, the Congressional Budget Office projected that collections during the fiscal year that will end on September 30, 2010 will be $2.264 trillion (PDF; page 2 at link). That's $159 billion, or about 7.5% higher, than fiscal 2009's final total of $2.105…

On Saturday’s CBS Evening News, anchor Jeff Glor teased an upcoming story on Switzerland’s health care system by wondering: "Could Switzerland’s health care be a model for America?" He later introduced the segment by claiming that the Swiss system could be "a glimpse of what the U.S. health care system of the future might look like." Correspondent Richard Roth touted the Swiss "love of capitalism…

How out-of-touch is the D.C. pundit class with the rest country? Look to John McLaughlin for the answer. During part two of "The McLaughlin Group 2009 Year-End Awards," McLaughlin, who has hosted the program since 1982, declared the concept of freedom, at least from a political standpoint in the United States, is overrated. "The most overrated is freedom," McLaughlin said. "When faced with…

The Obama administration's Home Affordable Modification Program (known as "HAMP" to lenders and services, and MHA, or "Making Home Affordable" to the general public) is "failing." I only learned this because I looked at the Associated Press's feeds on Christmas evening and saw this headline -- "No consequences for lying borrowers." In an item time-stamped December 25, AP national business…

While much of the national media was focused on a Christmas Eve Senate vote to pass health care reform legislation, the Obama administration's Treasury Department was tending to other business that will have serious implications for the U.S. economy. But did anyone notice? As Zachary Goldfarb reported for The Washington Post on Christmas Day, the Obama Treasury said it would lift the limits on…

This is the fifth year I have looked into how the media treats these two topics: The use of “Christmas shopping season” vs. “holiday shopping season” (note how the AP photo at right uses “holiday” and not “shopping,” even though there is a C-C-, Chr-Chr-Christmas tree in the picture). The frequency of Christmas and holiday layoff references. I have done three sets of simple Google News…

The Associated Press's business writers and many others in the establishment press spent just over a year reminding readers at seemingly every conceivable opportunity that the recession began in December 2007, simply because the supposedly apolitical collection of academics at the National Bureau for Economic Research said so. Lo and behold, in her year-end roundup of 2009's top business stories…

UPDATE: Page responds to NewsBusters in Chicago Tribune blog post. The bitterness toward the tea party movement continues to go on and on. Case in point - Chicago Tribune columnist Clarence Page, who on the Dec. 27 broadcast of "The McLaughlin Group," deemed it "The Most Defining Political Moment" of 2009, but refused to call it the "tea party." Instead, he granted the movement the preferred…

On Thursday, the Treasury Department issued a press release, called "Update on Status of Support for Housing Programs." Its fourth paragraph reads as follows: At the time the Federal Housing Finance Agency (FHFA) placed Fannie Mae and Freddie Mac into conservatorship in September 2008, Treasury established Preferred Stock Purchase Agreements (PSPAs) to ensure that each firm maintained a positive…

The Associated Press should seriously consider renaming itself "Associated Dems" or "Associated Leftists." This morning, the AP's Charles Babington uncritically relays the latest Democratic Party talking point about its statist health care plan that has been passed in two very different forms in the House and Senate. The supposed point is that anyone who voted to create Medicare Part D in 2003…

In keeping with the tradition of the holidays - the minds at MSNBC, the place for politics if you're of the lefty persuasion, decided rate the top 10 political stories of the decade. And leading this gang of masters of the political journalism universe was "Hardball" host Chris Matthews, who on the broadcast of his Dec. 24 program, announced that conservative activism, mainly the tea party…