At Wednesday's White House press briefing, Obama administration Press Secretary Josh Earnest, in a fit of completely unsupported arrogance, claimed that 805,000 jobs have been created "while President Obama was in office," and that "President Obama has set a high standard" in that regard.
The lazy stenographers posing as journalists present at the briefing, along with other reporters covering Carrier Corp.'s decision not to move its Indianapolis manufacturing jobs to Mexico, have failed to recognize what anyone whose job it has been to follow the economy during the Obama administration should know, namely that the economy, through October 2016, has fewer manufacturing jobs now than it did when President Obama took office in January 2009.
MSNBC’s Chris Matthews went of the metaphorical high speed rails during Hardball Monday night, as he announced a ridiculous plan to fund high speed rail. “We've got about $30 trillion sitting overseas, because of the tax laws of this country, the corporate tax rates and things like that,” he explained, “You say, ‘Why don't we find a way to grab all of that, in fact, and put it into development of a public/private thing.’” And it only got more ludicrous from there.
The liberals who thought Chris Wallace did a bang-up job as moderator of the third presidential debate were judging strictly by appearances, contended Daily Kos’s Laura Clawson and Salon’s Gary Legum in separate articles. Clawson pooh-poohed the praise for Wallace, sneering that he “really wasn’t all that. Unless the ‘that’ is ‘a purveyor of right-wing talking points masked as “fair and balanced” questions.’” Legum called Wallace “a creature of Fox News, a point of view he betrayed through both his selection of several questions and the right-wing frame he gave to them. Which might have tickled the amygdala of conservatives everywhere, but also managed to perpetrate for a mainstream audience a couple of the more pernicious policy myths that haunt our political discourse.”
The federal government's fiscal year ended on September 30. As has been the administration's habit for years with news that might draw negative attention, the Treasury Department conveniently released its year-end Monthly Budget Review Friday afternoon to minimize the discussion of its grim news.
Many writers on the left and beat journalists in the establishment press contend that Republican presidential nominee Donald Trump and running mate Mike Pence tell lies so often that it's virtually impossible to keep up with all of them.
If that's so, why, with all those "obvious" falsehoods out there, did two Los Angeles Times reporters have to label an absolutely true statement by Pence about Hillary Clinton's Syrian refugee position "misleading" and then fail, as seen in a Friday NewsBusters post, to even try to explain why it was? And why did the Associated Press's Josh Boak, as will be shown after the jump, pretend on Tuesday that Pence's absolutely true claim about the growth of the national debt under President Obama wasn't true?
On Thursday, Federal Reserve Chairman Janet Yellen suggested in a videoconference call, as translated into plain English by the Wall Street Journal, that "there could be benefits to allowing the central bank to buy stocks as a way to boost the economy in a downturn."
CBS broadcasts discussing the Brexit Leave vote on Sunday and Monday went to economic "experts" whose "analysis" betrayed partisanship and both feigned and real ignorance. On Sunday on Face the Nation, max 2015 Hillary contributor (as usual, not disclosed to viewers) Mark Zandi of Moody's Analytics predicted that that the UK economy "is going down the rabbit hole" as the result of the Leave victory, and that the European union, based on being "bigger," is in better shape to hand the fallout. This defies 40 years of history — both two decades before and two decades after the EU formed a single market in 1993 — during which the British economy has significantly outperformed its continental brethren. Then on Monday's CBS This Morning show, Obama bundler Mellody Hobson absurdly told viewers that the EU is like "the United States of Europe which came into being after World War II."
The establishment press must not think that anyone should care about the millions of dollars Bill Clinton and his wife Hillary have "earned" making speeches, particularly to powerful banks and Wall Street firms, since he left the presidency in 2001 and after her time as Secretary of State ended in 2013.
That's the only explanation as to why Mrs. Clinton could promise, as she did on Tuesday, that the economy won't be rigged in favor of Wall Street if she is elected President, and then have a lapdog like MSNBC's Kasie Hunt completely fail to touch on the deep and shameless hypocrisy in Mrs. Clinton's statement. At least Hunt acknowledged that the economy, after 7-1/2 long years under President Barack Obama, "has been for many Americans slow to recover." No kidding, Kasie.
A Pew Research report published three weeks ago on America’s Shrinking Middle Class presented a fundamentally misleading narrative which the press was only too eager to relay and continues to use, namely that the middle class has been seriously shrinking since the turn of the century. Christopher Rugaber at the Associated Press typified the initial press coverage, writing: "In nearly one-quarter of metro areas, middle-class adults no longer make up a majority ... That sharp shift reflects a broader erosion that occurred from 2000 through 2014."
The not particularly subtle message: "It all started with George W. Bush, and it hasn't let up since then." This post will disprove and thus discredit that notion.
Democratic presidential frontrunner Hillary Clinton believes we're supposed to be impressed by the idea of putting her husband Bill, in the Associated Press's words, "in charge of revitalizing the economy." Yep, the old "2-for-1" offer from the early 1990s is back.
In 1993, President Bill put First Lady Hill in charge of health care. Fortunately, nothing tangible resulted, but we did get an early lesson in the extremes of Clintonian secrecy and stonewalling. This time, a President Hill would put "First Dude" Bill — as the AP's Lisa Lerer and Catherine Lucey, brazenly stealing Sarah Palin's description of husband Todd while she was Alaska's Governor, prospectively described him on Monday — effectively in charge of the economy. Here's the big problem the press is virtually certain to ignore: Bill Clinton guaranteed in 2012 that the economy under a reelected Barack Obama would not need revitalization by now.
In an analysis for the front page of Wednesday’s New York Times business section, Eduardo Porter trumpeted that the real issue ailing the American economy and impeding on its improvement is the lack of mass government jobs programs similar to its “large and underappreciated role in reshaping” the country during the 19th and 20th centuries.
In case you didn't get the message the first or second time around, the Washington Post wants you to hear it again: Cool your complaints about the weak U.S. economy, because it's your fault.
To be clear, the problem is primarily with the Post's headline — "The economy’s real drag: Us" — than with Robert J. Samuelson's content, which at least gave American consumers credit for having "sobered up" as the reason for the increased savings rate which is supposedly holding the economy back. That said, the longtime Post writer missed a number of other key factors explaining why consumers aren't spending as they did in the decades before the recession.