Recession

Press reports about the prediction by President Obama's Council of Economic Advisers that the economy would add an average of 95,000 jobs per month during calendar 2010 weren't exactly overflowing with praise, but were lacking in something one would have expected: historical context. Philip Elliott's Associated Press report provided none. Sewell Chan's New York Times coverage at least pointed…

There are at least two schools of thought in economics. One of them - Keynesian economics - suggests that consumption is the most important element and therefore spending is the way to restore a faltering economy. This is the theory that's been adopted by the spendthrift Obama administration and often the news media that have argued in favor of more government and personal spending. But according…

White House Budget Director Peter Orszag and Congressional Budget Office Director Doug Elmendorf have a problem: They can't revise their budget estimates quickly enough to account for the continued bad news about tax collections arriving daily from the Treasury Department. Luckily for them, but unfortunately for taxpayers, an establishment media obsessed with PDS (Palin Derangement Syndrome), TDS…

On Monday’s Morning Joe show on MSNBC, during a discussion of President Obama’s recent suggestions that he would be willing to talk with Republicans about health care reform, co-host Mika Brzezinski recounted Obama’s initial refusal to include the GOP, and claimed that Republicans "ARE the ones, you could argue, who wrecked the economy," which set off co-host Joe Scarborough. After Brzezinski…

Rick Santelli is the star of perhaps the most politically consequential online video, viral to the extreme, of the past year (right). On February 19, 2009 he let loose on the Obama administration's economic policies on CNBC's "Squawk Box", calling for a "tea party", and inspiring millions of Americans to speak out against what he and many others see as collectivist economics policies pursued by…

Only a liberal could imagine that addressing the federal deficit and creating jobs might be mutually exclusive. On MSNBC's Feb. 3 "Morning Joe," Chrystia Freeland of The Financial Times asked Sen. Debbie Stabenow, D-Mich., whether she agreed with President Obama's stated intention of addressing the deficit next year. "Senator, we've also heard from the president that next year - in his budget…

Update - 2/4, 11:46 AM | Lachlan Markay: CBS News President Sean McManus has denied that the network will cut Couric's pay. Details below.Katie Couric may be getting a taste of her own populist medicine. When the Dow hit 10,000 last October, she (and other network news personalities) used the opportunity to bemoan massive payments to Wall Street bankers. But now the populist sentiment has turned…

The White House continues to throw out random numbers in their quest to convince the public that their behemoth stimulus bill is saving jobs at a massive rate.  The confusion has even seeped into the President's biggest support group - the media. CNN recently announced how the stimulus plan funded nearly 600,000 jobs this past quarter.  In their article, which parrots the numbers provided by the…

On Wednesday's Countdown show on MSNBC, shortly before the beginning of the State of the Union address, as Keith Olbermann discussed the speech with Chris Matthews and Rachel Maddow, after Olbermann brought up the possibility that President Obama would give a divisive FDR-style speech, Matthews seemed to lament that such a speech would "spook" the middle class, and, as he credited the Democratic…

Is the luster finally wearing off the love affair between the White House press corps and President Barack Obama? It is, if CBS White House correspondent Chip Reid's analysis of President Barack Obama's latest Wall Street proposals is anything to go by. Reid appeared on the Fox Business Network's Jan. 25 "Imus in the Morning" program and offered an update on the president's financial and…

Poor Joe Klein wishes he could give a lecture to average Americans -- the "Too Dumb to Thrive" who probably don't read his magazine's Swampland blog anyway -- on the virtues of Obamanomics. Of course, they'd probably be too stupid to understand the enlightened Mr. Anonymous, especially Fox News viewers. Indeed, at least in Klein's mind, these alleged ignorant boobs are practically an existential…

It's amazing how Bernard Condon and Tim Paradis of the Associated Press managed to hang the same label on totally opposite political positions in their report on the situation in the stock market late this afternoon.According to the AP pair, Scott Brown's U.S. Senate win in Massachusetts was due to a "wave of populism," at the same time as President Obama is supposedly planning to use "populist…

Rush Limbaugh is so reviled by the left, that even when he agrees with liberals and issues facts supporting their arguments, they criticize him and demand an apology.The latest such group to deride Limbaugh for supposedly offensive comments that they themselves have supported is the Anti-Defamation League. The ADL has called on Limbaugh to apologize for suggesting that the Obama Administration's…

Two Democrats on Sunday blamed the soaring budget deficit on George W. Bush, and ABC's Terry Moran didn't challenge either one of them.First up on "This Week" was senior White House adviser David Axelrod who told substitute host Moran, "President Clinton left a $237 billion surplus, President Obama received a $1.3 trillion deficit." Moran didn't challenge this, nor did he press Sen. Robert…