Economy

Although the term isn't used, it's clear that the Obama campaign sees itself and their candidate as victims of a vast conspiracy of right-wingers. Going all the way back to the 1988 presidential election, Obama's "Fight the Smears" chart (featuring the campaign's new sort-of "presidential seal," replacing the one that was "dropped," at the top left) purports to tell us "Who's Behind These Lies."…

A report on the economic policies of John McCain and Barack Obama by correspondent Chip Reid on Monday’s CBS "Evening News" suggested that Obama’s supposed middle class tax cut would be more beneficial for American families: "Obama's plan is to roll back the Bush tax cuts for the wealthy and use the savings for a middle-class tax cut...A recent study by the non-partisan Tax Policy Center says…

On Monday’s CBS "Early Show," co-host Harry Smith talked to John McCain supporter Carly Fiorina and Barack Obama supporter Senator Claire McCaskill about the respective economic plans of the presidential candidates: "Bear market blues. Wall Street returns from the holiday as gas prices set another new record. Can either candidate calm America's fears?" At one point, Smith asked Fiorina: "How do…

Ho no, here we go again. Gas price hysteria from the MSM. "Here's a troubling look at what some people are doing for gas. A 34-year-old Kentucky woman was arrested for prostitution after she was allegedly trading sex for $100 gas cards."So began a video story at ABCNews.com, which made today's top headlines roundup with the teaser headline: "Sign of the Times: Sex for Gas." While the short video…

Earlier this week, to avoid "undue" emphasis on how much the situation has been improving in Iraq, the press, in search of bad news, switched its focus to Afghanistan (examples here, here, and here). Kyle Drennen and Warner Todd Huston at NewsBusters noted this on Tuesday. Similarly, Associated Press writer Ellen Simon, confronted with a key report showing economic improvement, decided that it…

Food inflation is hitting everyone - even if don't have to pay for food. According to the July 2 "CBS Evening News," part of its "The Other America" series - a title strangely similar to former Democratic presidential candidate John Edwards' liberal anti-poverty mantra of "Two Americas" - food stamp recipients are being hit by the rising the cost of food. "With food prices climbing, more and…

Thursday’s "Good Morning America" used the Fourth of July holiday to exaggerate the effects that food prices are having on consumers. In its "Hitting Home" segment, reporter Sharyn Alfonsi reported on the price increases of certain Fourth of July barbecue staples, claiming that "Americans are gonna eat 110 million pounds hot dogs and that could take a big bite out of their wallets."…

Rush Limbaugh's new deal with Clear Channel, as flashed by Drudge (also covered or addressed here and here at NewsBusters; here at the New York Times; and here in a very long New York Times magazine article), is north of $400 million for the next eight years.Good tax planning too: Maharushie will get his reported nine-figure signing bonus this year before a possible President Obama does his…

With Starbucks’ announcement that it will closing 600 of its locations nationwide, the network morning shows on Wednesday heralded this news as another sign of a bad economy. ABC’s Bianna Golodryga on "Good Morning America" lamented that "Americans are struggling just to pay for a cup of Starbucks coffee." NBC’s Matt Lauer’s clever headline: "Trouble brewing -- Starbucks announces its closing 600…

During June 30th's "Larry King Live," Robert F. Kennedy Jr., senior attorney at the National Resource Defense Counsel, made a head-turning statement regarding subsidies to the oil and coal industry, and not a single panelist challenged him on it. Not that one would expect King himself to do it; however, the other panelists included Chevron's David O'Reilly and ABC's John Stossel. Relevant portion…

On Monday’s CBS "Early Show," co-host Harry Smith talked to economic analyst Mark Zandi about the state of the economy and asked: "Oil's up, gasoline's up, food prices up, stocks, way, way, way, way down. Home owner -- home values are down. Is there an end in sight to all of this bad news?" Zandi replied: "You just made me depressed. No. It's just bad news. It really is...It's just a really tough…

The question that is this post's title occurred to me as I read through this report earlier today by Seth Sutel of the Associated Press. I believe the question is important, and that its potential implications are underappreciated. Sutel first summarized the week's financial events in the media business. It wasn't pretty: Even for an industry awash in bad news, the newspaper business went through…