Economy

Former New York City Mayor and Republican presidential candidate Rudy Giuliani was interviewed on Wednesday's "American Morning" by co-host Kiran Chetry about Senator Hillary Clinton's Tuesday night speech to the Democratic National Convention. After Giuliani argued that Clinton never answered the "big question" surrounding Senator Barack Obama of whether he is ready to be Commander-in-Chief,…

Partly because this story doesn't fit preconceived liberal storylines and partly because the Democratic Convention is taking up all the oxygen in the mainstream media, you can expect this story to remain buried in your newspaper and be given little if any attention on cable news networks.From page 17 of today's Financial Times, "US drillers to get $1bn court award" comes news of how federal…

Reuters thinks that tax breaks and loopholes "costs" government its tax receipts. This is a perfect example of class hatred ginned up by the media to further class warfare between Americans. The absolute truth is that if people use the tax code to limit their tax burden they are not costing the government anything, but are using legal means to avoid a higher tax burden. Further, our money is NOT…

It seems like a no-brainer: Raising taxes is bad. It's a shame that Barron's is one of the few outlets to pick up on it. An economic plan floated out by Democratic presidential hopeful Sen. Barack Obama, Ill., would raise taxes on incomes above $250,000 - with the highest rate at 39.6 percent - and redistribute the wealth to the poor and middle-class. But that would be a big mistake, according…

So if a government program has been failing for decades, should you A) Privatize it, B) Get rid of it altogether, or C) Throw millions of dollars at it and hope that Americas somehow feel compelled to reenact scenes from "Some Like it Hot." The answer is C if you were watching CNN this morning. "American Morning" pointed out that high gas prices were the reason ridership on Amtrak was up…

According the Associated Press, "Ask AP" is "a weekly Q&A column where AP journalists respond to readers' questions about the news." Given how biased the wire service's news reporting is, you wouldn't expect "Ask AP" responses to be very different. They usually aren't. Case in point (second question at link) -- Reader Cindy Garcia of Vista, California asked AP about the costs and benefits of…

Perhaps it's the pied piper effect, but when Democratic presidential nominee Sen. Barack Obama speaks, the media follow right along in lockstep. The word "disaster" can invoke images of the aftermath of hurricanes, tornados or tsunamis. But, on the campaign trail where there are political points to be scored - it's one quarter of a slight economic contraction followed up by two quarters of…

Editor's Note: This story originally ran on our sister site www.Businessandmedia.org.  When is an increase in consumer confidence bad news? When ABC reports it.Network anchor George Stephanopoulos led off the news cast with this gloom-and-doom teaser: "Terrible Tuesday. Inflation surges. Stocks dive. And consumer confidence nears a record low."But Stephanopoulos left out a key detail: consumer…

Amity Shlaes, a senior fellow at the Council on Foreign Relations, penned an August 18 Washington Post column examining five of the government's Depression-era mistakes that made financial matters worse. Shlaes, author of "The Forgotten Man: A New History of the Great Depression" cautioned today's lawmakers against following in those footsteps.According to Shlaes, "perverse monetary policy was…

A study released today by the slightly left-of-center Project for Excellence in Journalism confirmed what many NBers have suspected for a while: the media's negative coverage of the economy affects public opinion. According to PEJ, the public's concern about the economy as an issue has always outstripped that of the media. That's pretty normal considering that America's economy is one of the few…

A former New York Times investigative journalist who wrote primarily on business and taxation will soon be speaking at a "progressive" gathering. Further, in his inaugural column at a post-Times gig, he misrepresented the nature of the 1980 and 2000 tax-cut proposals by the Republican presidential candidates. Finally, in another post-Times tax column, he used vitriolic class warfare-based…

Here's news the traditional media will work very hard to ignore. According to data released by Uncle Sam's Bureaus of Labor Statistics today, the unemployment rate in Illinois is the fifth-highest in the country. The Land of Lincoln had a seasonally adjusted unemployment rate of 7.3% in July, up 2.2% from the previous year's 5.1%. That puts Illinois, along with California, in a tie for fourth…

Perhaps the media's Obama lovefest isn't as infectious as previously thought - at least in some corners of the financial media. For the second day in a row CNBC's Michelle Caruso-Cabrera noted low taxes - a conservative economic ideal - trumps those of the left, both economically and politically. Caruso-Cabrera and "Squawk Box" co-anchor Joe Kernan interviewed Douglas Holtz-Eakin, the chief…