Economy

A huge point has been virtually if not totally ignored since the announcement on Friday that the reported federal deficit for the fiscal year that ended a week ago was $250 billion -- The Bush Administration has done what it said it would do about the deficit three years ago, and has done it a full three years early, i.e., in half the time predicted.This continues what has been a very difficult…

Do you favor tax cuts? If so, you're no better than a congressman wanting to slip the pants off a page. Worse, for that matter. That's the reasoning of Rosa Brooks, L.A. Times columnist. In Grand Old Party of Child Endangerment, Brooks argues that:"Foley's acts may have damaged the handful of boys unfortunate enough to have attracted his attention, but the damage to children caused by his abuse…

Yesterday the Dow Jones average hit its third straight record high while a retail report for September showed strong sales at most retailers, including apparel and department stores.Yet ABC, CBS, and NBC all ignored both developments in their newscasts.For more, see my story at the MRC's BusinessandMedia.org Web site.

It appears that OPEC member states are worrying about the slumping price of oil. Venezuela and Nigeria have already cut back on production a bit but there's talk of an emergency meeting soon.But so far, not a peep from the broadcast media. See my article at BusinessandMedia.org.And don't hold your breath for CNN's Jack Cafferty to see a Democratic conspiracy to hike oil prices in time for the…

First from Reuters, which has not always been very even-handed in reporting economic news, a pretty decent report: Consumers bright, Midwest business strong in Sept By Ros Krasny CHICAGO (Reuters) - U.S. consumer spending slipped in August but falling gasoline prices elevated shoppers' moods by September and Midwest factory activity picked up as well, according to reports on Friday that…