At the Associated Press on Friday, economics writer Paul Wiseman attempted to rewrite history, pretending that "trickle down" economics is a term Republicans have used for their economic plans since the days of Ronald Reagan, and that the current GOP tax plan which has made it through the House and is being considered by the Senate is more of the same thing. In fact, Reagan's policies, which were supply-side, growth-oriented and behavior-changing, did not cause only tiny amounts of money to "trickle down" to everyday Americans; they instead led to explosive and sustained employment and across-the-board income growth which hasn't been seen since.



Former Reagan official David Stockman predicted that whoever was elected in 2016 would “inherit a recession.” Stockman, former Director of the Office of Management and Budget for President Ronald Reagan, said on May 25, 2016, that Wall Street would undergo “massive panic and selling.”

 



There are few things the liberal media like more than a Republican renegade.  David Stockman has made a career out of strutting his independence from the GOP.  So little surprise that he was an honored guest on this morning's Up With Chris Hayes on MSNBC.

That Stockman repaid his hosts by attacking Republicans was utterly predictable.  Even so, the absurdity of Stockman's particular assertion was breathtaking.  The former Reagan budget director actually claimed that the notion of American exceptionalism, a focus of Newt Gingrich's campaign, is nothing less than . . . "neo-con code" for an aggressive foreign policy.  Video after the jump.



Rachel Maddow had a very tough evening Friday.

Before telling a 100 percent falsehood about Reaganomics on HBO's "Real Time," the MSNBC commentator said the Strategic Defense Initiative would never work because you can't shoot a missile out of the sky with another missile (video follows with transcript and commentary):



Bill Maher on Friday once again demonstrated how little he knows about politics and current events.

In a discussion about House Republicans voting last week to repeal ObamaCare, the "Real Time" host said that law's individual mandate is constitutional because states require people to own car insurance (video follows with transcript and commentary):



Since its inception, NewsBusters has informed readers of the tendency of liberal media members to completely make up economic data when it fits their agenda.

Not surprisingly, this happened on Friday's "Real Time" when host Bill Maher brought up Reaganomics and MSNBC's Rachel Maddow proudly told - she even stood up to tell this whopper! - a 100 percent falsehood about income gains during that era (video follows with transcript and commentary):



Christine Amanpour spent much of Sunday’s This Week arguing with her guests about how taxes must be raised -- a theme also echoed on Face the Nation and Meet the Press -- as she brought aboard the media’s newest hero, tax-hike advocate David Stockman, and also touted Warren Buffett’s quest to hike taxes and how even conservatives in Britain have agreed to do so: “They’re saying there for every $3 in spending cuts, $1 up in taxes.”

Advancing the media-Democratic line against the agenda of victorious conservatives, Amanpour asserted to Senator-elect Rand Paul: “There are many economists who simply say the math does not add up, if you’re not going to agree to raising taxes. Do you agree that taxes will have to be raised, as well?” Rand retorted: “I think it's not a revenue problem. It's a spending problem.” To which, Amanpour countered: “But it is a revenue problem according to so many economists.”

Amanpour soon repeated: “Without making strong entitlement and other cuts, and even if one does, most of the economists say the math does not add up to keep tax cuts on and on and on. Will you agree to some?”

At the top of her show, with “Tax Cut Mantra” derisively on screen, Amanpour touted Stockman: “Their hero may be Ronald Reagan, but his tax man says that [extending the current tax rates] will finish the economy off.”



Barely 36 hours before Washington State voters go to the polls, CBS News aired a 14-minute unregulated in-kind campaign expenditure on behalf of “Yes on 1098" and its chief cheerleader, Bill Gates Sr, sandwiched by Lesley Stahl hailing rogue Reagan adviser David Stockman as “brave” for advocating the end to the Bush tax rates and imposition of a 15 percent national income surtax. Stahl trumpeted:

One Republican brave enough to go public is David Stockman, President Reagan's budget director. He says all the Bush tax cuts should be eliminated -- even those on the middle class. And he says his own Republican Party has gone too far with its anti-tax religion.

She segued to how “many of the states are in the same boat, facing huge deficits with few prospects for cutting, which is why Washington State is joining the movement across the country to tax the rich,” championing how “Bill Gates Sr., has poured his own money into backing Initiative 1098. The tax would bring in $3 billion a year, to be spent mainly on education, which has suffered cutbacks as the state reels under a massive deficit.”