One of the more absurd spectacles in the press's coverage of the economy is the attack on the Trump White House's long-term economic growth assumptions in this week's budget release. The same reporters, pundits and outlets now ridiculing the Trump administration's belief that the economy can consistently grow by 3 percent each year beginning four years from now were stone silent when the Obama administration, whose alums have joined the current negative chorus, used far higher growth assumptions — and miserably failed to achieve them.
The wire services and other establishment press members appear to be getting more selective in what they will allow into their headlines, particularly omitting items which might hurt Dear Leader.
Take the coverage of yesterday's Employment Situation Summary from the government's Bureau of Labor Statistics. The news was a combination of bad and mediocre (though expectations-beating): The seasonally adjusted unemployment rate increased from 8.2% to 8.3% (or from 8.217% to 8.254%, if you're Obama administration hack Alan Krueger), while the seasonally adjusted number of jobs added was 163,000. Both results are really unacceptable when there's so much not utilized and underutilized labor. Three establishment press headlines avoided mentioning the rate increase, even though it was a major element of the underlying story: