CNBC’s morning anchors were troubled by the news that their own insurance plans will become more costly under the Affordable Care Act (ACA).
On Oct. 30’s “Squawk Box,” CNBC Senior Correspondent Scott Cohn revealed details of NBC’s open enrollment, brandishing an official fact book outlining the process. He quoted the document, revealing that the ACA would increase employee premiums.
Near the end of the fourth story on Monday's NBC Nightly News, White House correspondent Peter Alexander managed to squeeze in a mention of the network's scoop that the Obama administration knew for years that millions of people would be kicked off of their current health insurance plans because of ObamaCare, despite the President's repeated assurances to the contrary. [Listen to the audio]
Alexander provided a mere twenty-one seconds of air time for the revelation: "That millions will lose or have to change their individual policies is not a surprise to the administration. NBC News senior investigative correspondent Lisa Myers found buried in the 2010 ObamaCare regulations, language predicting, 'A reasonable range for the percentage of individual policies that would terminate is forty percent to sixty-seven percent.'"
On CNBC’s “Squawk Box” on Tuesday, Sun Microsystems founder and Harvard-trained economist Scott Mc Nealy asserted the Federal Reserve has become a "marketing department" for the government and "shouldn't be in any business at all. They shouldn’t be in the business of taxing people by devaluing the dollar, and they shouldn’t be in the business of setting expectations."
He said the Fed should not be able to do "quantitative easing without going through Congress. It's an out of control branch of the U.S. government" that should be abolished:
The August Jobs Report showed 169,000 jobs were added, less than many had predicted and revisions from previous months even included a drop of 74,000 jobs. So the jobs total for the month was really just 95,000.
The stock market continued to rally, but CNBC’s Rick Santelli, who covers the Chicago Board of Trade, said that such a contrast was upsetting. “What are we, a banana republic?” Santelli asked. “I just think it’s absolutely horrible that we’re in a marketplace where we get a lousy report. 35 years since we’ve seen these participation rates, and listen: you can’t hide the spread of four to four-and-a-half percent between the advertised unemployment rate and what it would be if you would go back a few years on that participation rate,” he explained.
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Let’s all be thankful for CNBC. On this morning’s Squawk Box, co-host Joe Kernen raised a question that the Big Three broadcast networks have been afraid or unwilling to touch thus far.
While Kernen was chatting with CNBC Chief Washington Correspondent John Harwood about the sequester, Harwood brought up the FAA’s announcement that it will close 149 air traffic control towers next month. It was a story that ABC, CBS, and NBC each covered on their Saturday morning shows this week. Of course, what the broadcast networks failed to mention, but which Kernen raised, was Kansas Republican Senator Jerry Moran's amendment that proposed cutting $50 million in unspent FAA research money rather than closing the towers, $50 million being the approximate amount that would be saved by closing the 149 towers. Senate Majority Leader Harry Reid (D-Nev.) refused to bring the amendment up for a vote.
The Bureau of Labor Statistics on Friday reported upside revisions to the number of jobs that were created in last year's fourth quarter.
Appearing on CNBC's Squawk Box, Austan Goolsbee, the former Chairman of the Council of Economic Advisers under Barack Obama, joked, "It’s an elaborate left-wing plot to make the numbers much better several months after the election so that nobody thinks that there was a conspiracy just before the election."
“No more tax revenue! None. NONE.”
That was not the cry of a dyed-in-the-wool conservative politician. Rather it was Jim Cramer, CNBC’s own host of “Mad Money,” speaking to the upcoming fight in Washington over the debt ceiling. [See video after the jump]
Nobel prize winning liberal economist Paul Krugman, who has often argued that President Obama’s $831 billion stimulus was too small, has now decided he knows what’s good for everyone’s health (besides government-controlled healthcare). His health advice? “Don’t spend much time watching CNBC” because it is “bad for your financial and intellectual health.”
On the Nov. 5 edition of CNBCs “Squawk Box,” former CEO of GE Jack Welch guest hosted and did not shy away from his opinions of the current administration. Welch emphasized the great opportunity America has with natural gas and how some of Obama’s proposed green energy bills pose a great threat to the economy.
One of those big threats, according to Welch, is the Ozone regulations bill, which was pushed back to be enacted in early 2013. “Ozone is a trillion dollar bill to the U.S. economy,” Welch stated. “If they put the ozone restrictions in that they want and take them down to sixty parts per billion, take them down there, it’s a trillion dollar bill.”
As far as Joe Kernen of CNBC's Squawk Box is concerned, the word 'virgin' and Tim Tebow are synonomous. Apparently, there can be no conversation about Tebow without bringing it up in a mocking manner for what is essentially a deliberate and faith-based decision.
In an interview with New York Jets owner Woody Johnson on Wednesday morning, the conversation transitioned from politics to football. Co-host Becky Quick asked about the backup quarterback, wondering what the future may hold for him. As complimentary as he could be, Johnson was adamant that Tebow will be on the team for at least three seasons.
That's when Kernen perked up, posing an innappropriate question for the team's boss without a second thought. [ video below the page break, MP3 audio available here ]
In a Friday interview where the primary purpose was to give her an opportunity to defend her Bureau of Labor Statistics, Obama administration Department of Labor head Hilda Solis gave CNBC viewers the false impression that prior-month upward revisions to reported job additions were in the private sector (they were all government jobs), and falsely claimed, despite her boss's refusal to do anything until after Election Day, that "Congress needs to work with us."
The video can be found at CNBC, where Solis tells the network's reporter that "I am insulted" that people would believe that BLS's books are cooked. Here is her specific quote on job growth (Solis's comments below are not in the text of the post; HT Breitbart's Big Government; bolds are mine):