The February 2018 stock market correction was painful to watch, but the news media exaggerated the situation — piling on panic and blame with descriptions like “crash” and “freefall” — after ignoring most previous records.
The Dow Jones Industrial Average dropped by over 1,000 points by Thursday's closing and the folks at ABC News were eager to place the blame on someone during World News Tonight. That someone, of course, was President Trump and the much welcomed GOP tax cuts, which were responsible for generous bonuses and wage increases across the country.
On Monday, shortly after President Trump asked two employees at a suburban Cincinnati manufacturer to describe their plans for the $1,000 bonuses they had received, MSNBC's Katy Tur ridiculed them on Twitter. Tur considered $1,000 a pittance, and contended that the bonus money wouldn't genuinely help the employees involved achieve their stated goals. On Wednesday, Tur responded poorly to the outrage over her condescension by trying to change the subject.
Some people have called for a balanced budget amendment to our Constitution as a means of reining in a big-spending Congress. That's a misguided vision, for the simple reason that in any real economic sense, as opposed to an accounting sense, the federal budget is always balanced. The value of what we produced in 2017 -- our gross domestic product -- totaled about $19 trillion.
The journalists at CBS This Morning on Wednesday whined about the impact that the new Republican tax law will have on blue states, singling out New York, New Jersey, Connecticut and California. Yet, incredibly, reporter Alex Wagner’s entire report managed to never mention that these states have the highest taxes in the country and are wildly in debt.
At the Cincinnati Enquirer on Monday, reporter Jessie Balmert "fact-checked" President Donald Trump's afternoon speech at a suburban manufacturer. Balmert is the Enquirer reporter who in mid-2016 told readers that there were 220,000 U.S. murders in 2015 (actual number: 15,192). As would be expected, her Monday "fact check" was riddled with obvious errors and distortions.
During his speech Monday in Blue Ash, Ohio, a Cincinnati suburb, President Donald Trump invited two Sheffer Corporation employees to share their plans for the extra money they are receiving because of December's tax law. Minutes later, demonstrating how utterly out of touch she is with working families, MSNBC's Katy Tur posted two error-filled, condescending tweets mocking their plans.
The Dow Jones Industrial Average closed Monday roughly 1,100 points down after dropping by nearly 1,600. The percentage lost was not record-setting, but that didn’t stop the liberal media from slapping President Trump with it since he often touted the markets as a sign his policies were working. The Big Three networks led their evening newscasts with the story. NBC’s stood out as the most panicked and while CBS aimed to quell fears, they also knocked Trump for not noting it in a speech about tax cuts.
Democrats have been slamming House Speaker Paul Ryan after he deleted a tweet touting an AP story, in which a school secretary explained that she got a nominal raise because of the GOP tax bill. Because the amount was so small, or “crumbs” as Nancy Pelosi would put it, Democrats bashed Ryan and Republicans for daring to celebrate Americans getting more money in their paychecks.
Oh irony of ironies. How beautiful you can be!
Less than a week after Univision smeared the Trump tax cuts, the owner of that broadcasting network, Haim Saban, has announced that he will be giving $1000 bonuses to his employees due to those same tax cuts. In fact, as we shall see, Saban very specifically credited those same tax cuts as the reason for the bonuses. To get a full appreciation of the irony involved let us first look at what a Univision anchor said about the Trump tax cuts as reported by the MRC Latino Staff on January 27 in Univision Smears Trump Tax Cuts:
On Tuesday night, NBC threw what could be described as a hissy fit following President Trump’s first State of the Union address by attacking it as a “subdued,” “tired” President and speech that will keep “the fact checkers...busy” but didn’t address Russia or gun control.
To match their vicious pre-State of the Union address coverage, ABC lost its mind following President Trump’s first such address, slinging mud at the President for delivering a “divisive,” “gloomy,” and “sad speech” that did nothing to “unify” the country and instead “stok[ed]...racial tensions.”