'Evening News' Lauds the Government Growth as 'Economic Bright Spot
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…
Dire Couric Recalls Great Depression, Warns Our Kids Will Be the 'Lost
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…
AP Blows The Deficit Reporting, Part II: The Invisible April Receipts
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 "…
AP Blows The Deficit Reporting, Part I: The $175 Billion (Yawn) Accoun
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:
'Fast Money' Cast Debunks Legend of 'Dr. Doom' Roubini
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…
Politico's Obama Blog: 539,000 Job Losses 'Employment Doing Well
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…
Santelli Takes on Another Lefty Blaming the Right for Economic Hardshi
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…
FBN's Willard: Jail the Head of New York Fed
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…
AP's Calvin Woodward Does Astonishing Fact Check on Obama
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…
What a Difference A Few Hours Makes: Hopeful AP Reporting on GDP Goes
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…
'Nightly News' Economist Warns Deeper Recession Over Spread of Swine F
Some financial indicators took somewhat of a shock over swine flu fears on the first day after the swine flu fears were realized. "But on Wall Street today and overseas, travel-related stocks took a beating over flu fears," NBC correspondent Tom Costello said on the April 27 "NBC Nightly News," reporting that U.S. airline stocks were hit hard, down a little over 8 percent on the news. Costello…
BMI's Gainor Tells House Subcommittee Liberal Bias Has Hurt Newspapers
On April 21, the Business and Media Institute's Dan Gainor testified before the House Judiciary Committee's Courts and Competition Policy in a hearing on "A New Age for Newspapers."As MRC's Tim Graham wrote on April 22, the hearing was spurred by the steady drumbeat of newspaper closings around the country, and calls from some Democrat lawmakers to bail out and subsidize the newspaper business.…
