Economy

A quick note to drive-by journalists about NSA illegally collecting telephone records without first obtaining a warrant.U.S. Supreme Court SMITH v. MARYLAND, 442 U.S. 735 (1979) No. 78-5374. Argued March 28, 1979. Decided June 20, 1979. The telephone company, at police request, installed at its central offices a pen register to record the numbers dialed from the telephone at petitioner's home.…

A stunning announcement was made by the Treasury Department Wednesday. As reported by the Associated Press: “A flood of income tax payments pushed up government receipts to the second-highest level in history in April, giving the country a sizable surplus for the month.”(Update: At the end of this piece, I predicted this announcement would not be widely reported. Well, though all three broadcast…

In another example of journalists saying whatever they want whenever they want without regard to accuracy, CBS’s Anthony Mason on Wednesday’s “Evening News” declared erroneously that America’s debt declined during the Clinton years (video link to follow). Certainly, this is a myth that has been purported by the media since Clinton left office…but nothing could be further from the truth.Before we…

For months, the media have blamed virtually anything but free market forces for the rise in oil and gas prices. NBC’s Lisa Myers attributed these increases to greed on a recent Nightly News report stating almost disgustedly “Exxon earned 9.5 cents on every dollar of gasoline and oil sold, cashing in at every stage of the process.” Imagine the nerve of ExxonMobil actually making a profit. Oh the…

Anyone with a working TV set knows that the broadcast networks have hyped the high gas price story (“Pain at the Pump”) to ridiculous levels. A new MRC study of the ABC, CBS and NBC morning and evening news shows found a whopping 183 stories in just three weeks, an avalanche of TV coverage that (helpfully to Democrats planning their midterm election strategy) has buried far more important good…