If President Barack Obama is losing Al Hunt, there is definitely trouble in Lefty-land.
But let's not go too far. In the midst of leveling criticisms at Obama as "bordering on incompetence," the former host of CNN's Capital Gang and executive editor at Bloomberg News, who is now a Bloomberg View columnist and host of a Bloomberg TV's Political Capital Sunday news show, cited three examples of supposedly indisputable George W. Bush administration incompetence, none of which fits the description.
Potentially the most dishonest aspect of the Obama-loving media's reporting since January 20, 2009, pertains to how they've almost totally ignored how poorly the economy is performing.
On Tuesday, Michael T. Snyder, author of the gloom and doom book "The Beginning of the End," wrote a fabulous piece titled "33 Shocking Facts Which Show How Badly The Economy Has Tanked Since Obama Became President":
Ed Schultz took a dive off the deep end on Saturday’s The Ed Show, claiming that Social Security is a “cheap” program that “has never contributed one penny to the deficit.” The bombastic MSNBC host also blasted Republicans who support partially privatizing Social Security, arguing those lawmakers just want to “get their hands on the money.”
Schultz echoed similar arguments made by Rep. Mark Pocan (D-Wis.) and Sen. Dick Durbin (D-Ill.), who suggested that Social Security doesn’t contribute a “penny” or a “dime” to the national deficit. Both Democrats’ claims were challenged by fact-checking organizations, including PolitiFact, The Washington Post’s Fact Checker, and FactCheck.org. And while the term "cheap" is relatively subjective, few would argue that Social Security – which takes up one-fifth of the federal budget – is "cheap."
Whatever they're paying Teresa Ghilarducci, who is "the Bernard L. and Irene Schwartz chair of economic policy analysis at the New School for Social Research," it's too much.
The bolded sentences seen after the jump which Ms. Ghilarducci included in a Friday New York Times op-ed (HT "Mungowitz" at the "Kids Prefer Cheese" blog via Megan McArdle) makes my contention an open and shut case (bolds are mine throughout this post):
Before the government released its first estimate of first-quarter economic growth in late April, the establishment press, particularly Bloomberg News and the Associated Press, salivated at the chance to report the then-predicted "robust" annualized growth of 3 percent and to describe how the economy had "accelerated" from the previous quarter's pathetic 0.4 percent. When that first estimate came in at only 2.5 percent, most news organizations at least had the integrity to pronounce the news disappointing. But not Martin Crutsinger and Christopher Rugaber at the AP, aka the Administration's Press, who opened their coverage by saying that "the American economy quickened its pace early this year despite deep government cutbacks."
The government's second estimate in May was little changed at 2.4 percent. But Wednesday's third and final estimate (pending annual revisions going back several years, the next of which will appear in July) came in at 1.8 percent, a 40 percent drop from so-called experts' original predictions (1.2-point difference divided by the original 3.0 percent). The AP's reaction was to produce a terse three-paragraph blurb which was gone from its national web site within 24 hours, followed by a late afternoon report which blamed higher Social Security taxes and "federal spending cuts":
On Monday's All In show, MSNBC host Chris Hayes complained about Republicans trying to increase the number of border agents and to bar illegal immigrants from collecting Social Security benefits based on taxes they've paid into the system.
After recounting the time when he worked with several illegal immigrants in a bakery who paid Social Security taxes, and the efforts by Republicans to make the border with Mexico "one of the most militarized places in this country," Hayes concluded:
Jonathan Alter showed up on PBS’s Charlie Rose Wednesday to promote the new book in which he celebrates Barack Obama’s 2012 reelection. The Bloomberg columnist doesn’t seem to understand the irony of his book’s title – The Center Holds. He really does believe President Obama is a centrist, and he attempted to explain the title from the comfort of Rose’s dark studio:
“So the reason I call the book The Center Holds is, you know, not just ObamaCare, but he has defended the American social contract against an assault by the American Right.”
Showing how difficult it is to make the smallest reductions in federal spending, New York Times personal finance reporter Tara Siegel Bernard's latest "Your Money" column criticized, as hurting the old and poor, a proposed change in how inflation is calculated that would slightly curb the annual increases in entitlement spending. The proposal is generally supported by conservatives and reviled by liberals.
Bernard doesn't like it either. The headline over her Saturday column: "Budget Negotiating Chip Has Big Downside for Old and Poor."
I guess Byron Tau thought he had to make it look like Big Labor is really, really mad at President Barack Obama and the White House so he could make Obama look like he's a moderate on economic and fiscal issues. Thus his Sunday morning post's headline: "Labor targets Obama over proposed benefit cuts."
Of course, they aren't "cuts" at all, though they are being portrayed as such. All Obama has done, according to information which appears to have been conveniently leaked (perhaps in hopes of killing the idea) to the New York Times ahead of his very late President's Budget, is "propose a new inflation formula that would have the effect of reducing cost-of-living payments for Social Security benefits, though with financial protections for low-income and very old beneficiaries, administration officials said." Despite the weakly descriptive language at the Times, monthly Social Security and other checks would continue to increase under the proposal each year inflation occurs -- just not by as much.
Senate Democrats on Saturday narrowly passed their first budget in four years.
Appearing on PBS's Inside Washington Friday before the vote, syndicated columnist Charles Krauthammer called it "the most appalling document you have ever seen" claiming, "It marches us off a cliff into Greece and perhaps into Cyprus" (video follows with transcript and absolutely no need for additional commentary):
While you were watching Rand Paul's historic filibuster and the debate surrounding budget sequestration, an economic theory battle was waging between two of the nation's foremost liberal economists Paul Krugman and Jeffrey Sachs.
In his most recent salvo published at the Huffington Post Saturday, Sachs spoke heresy to Obama-lovers across the fruited plain including Krugman claiming that following the 2008 financial crisis, "It was the Fed, not the fiscal stimulus, which prevented a fall into depression."
As NewsBusters reported earlier, New York Times columnist Paul Krugman and MSNBC's Joe Scarborough had quite a heated discussion about the budget, debt, and the economy on PBS's Charlie Rose Monday evening.
Near its conclusion, Scarborough actually scolded Krugman for pompously behaving like a sighing Al Gore (video follows with transcript and commentary):