We Wish: AP Report Falsely Claims National Debt Is 'Accumulation of An
In a report that is so riddled with bias and factual errors it's hard to know even where to begin, Associated Press Writers Tom Raum and Andrew Taylor yesterday gave making President Obama look like a born-again deficit hawk their best shot. The pair's work is partially saved here for fair use, discussion and in this case entertainment purposes. The biggest error Raum and Taylor made was…
Big Brother and PC In Holland: A Mileage Tax That Varies on Car Type a
In what is presented to readers of an Associated Press report as a done deal, the Netherlands will impose a mileage tax on drivers beginning in 2012. It goes beyond most if not all other government-imposed taxes in that it will charge more during so-called peak times or if a vehicle is considered a heavier polluter. The abolition of two other taxes is apparently the mechanism for enticing the…
J.P. Morgan Chase CEO Jamie Dimon Condemns 'Too Big to Fail,' Advocate
J.P. Morgan Chase is the second-largest U.S. bank, but its CEO spoke out on Nov. 13 to condemn the policy of bailing out banks which are "too big to fail." Jamie Dimon wrote in the Washington Post that even his bank should accept the risk of failure. "[I]f some unforeseen circumstance should put this firm at risk of collapse, I believe we should be allowed to fail," Dimon said. He argued that…
Though Alarming, AP's Report on October Deficit Still Misses the Big
It might seem odd, given its content, that I'm about to criticize yesterday's Associated Press report on the deficit. After all, AP business writers Martin Crutsinger and Daniel Wagner did give us the facts about Uncle Sam's October Monthly Treasury Statement, put them into historical context, and told us that we face $1 trillion-plus shortfalls in fiscal 2010 and 2011. But the pair missed a…
Paul Krugman’s Media Critic Impersonation: Rips Fox Biz as 'Pro-Repu
We've come to expect intellectual dishonesty from the media elite, and Nobel Prize-winning economist Paul Krugman, a columnist for the New York Times, never disappoints. Krugman, in a Nov. 11 post on his NYTimes.com blog titled "The agony of Fox Business," made it clear he was a subscriber to the left-wing fairy tale that Fox News, and by extension the Fox Business Channel, are not pro-business…
Networks Silent on President's Violation of Pledge Not to Raise Taxes
The media gave President Obama credit during the campaign for promising not to raise taxes on the middle class. He was on the trail in New Hampshire when he made a "firm pledge" not to raise taxes on any family "making less than $250,000 a year." Obama is doing his best to break that promise, but the network news media haven't bothered to report it. On Nov. 6 when he endorsed the tax increase-…
Pfizer Leaving New London, CT; Just Don't Mention 'Kelo' While Reporti
It's a development that I wouldn't wish on anybody, but one that the City of New London, Connecticut largely brought upon itself by pursuing and winning the Kelo v. New London case at the Supreme Court in June 2005. Some "win." In what Ed Morrissey at Hot Air calls "a fitting coda to a chapter of governmental abuse," pharmaceutical manufacturer Pfizer is leaving the global research and…
Oops -- Cramer's October 12 Unemployment Prediction: 'We Are Not Going
Drinking the Kool-Aid on MSNBC wasn't enough, even for CNBC's Jim Cramer, to escape the reality that Obamanomics isn't working. Back on October 12, Cramer, to his credit, knew there were some problems with the $787-billion stimulus passed earlier this year. However, he felt it was necessary to pledge his admiration for President Barack Obama, Treasury Secretary Timothy Geithner and Federal…
Vintage Santelli: PelosiCare Threat to Recovery; Dow Climb Due to Mark
A rising Dow Jones Industrial Average (DJIA) means better times are on the way, right? Not necessarily, according to CNBC CME floor reporter and tea party movement inspiration Rick Santelli. Santelli made an appearance on CNBC's Nov. 6 "Fast Money," a show which the host, Melissa Lee, is skittish about a discussion that politics interferes with the market is a reality. Nonetheless, Santelli…
Unemployment Surges to 10.2 Percent, CNN Asks About Second Stimulus
President Obama lobbied for government stimulus almost as soon as he took office. In order to gain passage of that $787 billion spending spree, Obama warned of economic "catastrophe" including double-digit unemployment. Roughly 9 months later, we now have proof that those billions of taxpayer dollars spent didn't stop the unemployment rate from soaring to 10.2 percent. Still, that failure didn't…
CNN's Romans: Unemployment Benefits Extension 'Would Not Come Out of
On her segment of CNN Newsroom this morning, anchor Heidi Collins asked business correspondent Christine Romans about Senate action on extending yet again unemployment benefits:CHRISTINE ROMANS, CNN BUSINESS CORRESPONDENT: You're right. And Heidi, all of those things that you mentioned are incredibly important to your money and all of them could affect you very, very near-term here. This…
