Recession

During his Saturday, May 16, commencement speech at Fordham University, former NBC News anchor Tom Brokaw fretted that the "vital signs" of "Mother Earth" have "taken a turn for the worse," as he cited global warming as a problem this year's graduating class would need to help solve. He also used the term "economic justice," a term commonly invoked by the Left, as he called on graduates to "…

Here's a CNN e-mail alert I just received a couple of hours ago: So how did the Associated Press's Jeannine Aversa report the above raw news? As you would expect an Obama apparatchik to do it (reproduced in full as it existed at 3:15 p.m.; bold after title is mine): Fed sees hopeful signs but downgrades '09 forecast WASHINGTON (AP) — The Federal Reserve expects the economy to improve in coming…

You know the era of big government is alive and well when you see a mainstream news outlet praise the growth of the public sector as a "bright spot." Leading up to and throughout the 2008 national election cycle, CBS News was generally downbeat on the economy, even when times were much better than they are currently. However, now that government has taken a much larger role in the private…

Katie Couric sees America through a very dark prism. On Monday, she launched a new “Children of the Recession” series, in collaboration with USA Today, with an op-ed in “the nation's newspaper” in which she speculated today's kids may become the “Recession Generation” since “in some ways, I think they already are,” or the “innocent victims could become the Lost Generation.” Then, on Monday's CBS…

In Part I (at NewsBusters; at BizzyBlog) of my coverage of Martin Crutsinger's Associated Press report about Uncle Sam's Monthly Treasury Statement and the Obama administration's deficit projections, I noted that the government "miraculously" shrunk the deficit through March, the first six months of its fiscal year, by $175 billion, by employing an "accounting change." Even though this "…

You have to see this to believe it, and even then you'll have a hard time believing it. It's the Obama administration's deficit reduction program, otherwise known as "change the accounting." Here is what the Monthly Treasury Statement (MTS) from Uncle Sam looked like in March: Here is the report for April:

He's beloved by the gossip culture of Manhattan and was recently embraced by the left for hurling insults at CNBC "Mad Money" host Jim Cramer. But as Cramer's CNBC "Fast Money" colleagues explained, if you listened to NYU professor Nouriel Roubini, you would have missed out on a lot of stock market upside. Roubini, often called Dr. Doom and known for crazy parties, predicted back in 2005 the…

When NewsBusters reported earlier today that media members were depicting April's 539,000 jobs loss as "good news," I never imagined anyone would characterize the data as "employment doing well."Yet, that's how Politico's "44" blog -- "A Living Diary of the Obama Presidency" -- first teased Friday's Labor Department announcement at its front page.Here's a screen-cap of the first picture taken…

For whatever reason, CNBC keeps lining up challengers to take on its Chicago Mercantile Exchange floor reporter Rick Santelli over his self-reliance, pro-taxpayer persona - whether it's Steve Liesman, Arianna Huffington or this time, Keith Boykin - editor of The Daily Voice, a CNBC contributor and a BET TV host. ON CNBC's May 7 "The Call," Santelli took on Boykin in the program's "The Call of…

Here's a teachable moment: Bad things can happen when the government intervenes in the economy, which Fox Business Network host Cody Willard pointed out on his "Shot Clock" segment on "Happy Hour." Willard, on FBN's May 4 "Happy Hour" used part of his segment to call for the jailing of the New York Fed's chairman, Stephen Friedman. "New York Fed [Chairman] Stephen Friedman - this guy belongs…

Somebody needs to 'fess up. Who put truth serum in Calvin Woodward's coffee this morning?Whoever it is, they're in a heap of trouble, as Woodward produced a fact-checking critique of Barack Obama that is so good you'd swear most of it was ghostwritten by a conservative talk host.It will be interesting to see how much distribution it gets. I would suggest not counting on too much, but being open…

The Associated Press's Jeannine Aversa, who became infamous last year for her stories of "vanishing jobs" that weren't, sounded hopeful early this morning before the release by Uncle Sam's Bureau of Economic Analysis (BEA) of its first-quarter report on Gross Domestic Product (GDP) growth:Economy's free-fall probably eased in 1QThe recession's grip on the country may be letting up a bit.The…