Prompted by the CBO's forecast of a $1.2 trillion annual federal budget deficit, the NBC Nightly News on Wednesday commiserated with the challenge ahead for the incoming President. “On our broadcast tonight, facing facts,” Brian Williams teased, “President-elect Obama confronts the hard realities he's up against, deficits as far as the eye can see.” A dire Williams proceeded to lead with how Obama will take over “during one of the most challenging times in the modern history of the United States.”
From the White House lawn, Chuck Todd piled on: “You know, it's becoming a cliche to say that the problems Obama is inheriting are among the worst ever, but I tell you, the realities of the situation on the economy hit home hard today. As Obama took the podium, he was greeted by the dire news that before he spends one dollar to stimulate the economy, he'll be adding to a deficit that is now 13 digits long...”
Do you think Ronald Reagan got such empathetic treatment in January of 1981 when he was about to assume office at a time of soaring interest rates, raging inflation (12%), high unemployment (7.5%) and a declining GDP? Or, just maybe the media were more concerned about his proposed “tax cuts for the rich”?
NBC's theme was echoed, though less dramatically, on ABC and CBS. After reporting on the White House gathering of all the living Presidents and Obama, ABC anchor Charles Gibson asked:
What did they talk about? Well, most certainly, the economy. Probably just as certain, none of the others envies the President-elect, who is about to confront a stagnant economy and the largest budget deficit in history, over one trillion dollars.
Over on the CBS Evening News, Katie Couric set up a full story:
Barack Obama is already dealing with the biggest problem he'll face as President, the deepening recession. A new report today says employers cut nearly700,000 jobs last month, far more than economists were expecting. And then there's the federal deficit. The Congressional Budget Office predicted today it will reach a record $1.2 trillion this year.
From the Wednesday, January 7 NBC Nightly News:
TEASE FROM BRIAN WILLIAMS: On our broadcast tonight, facing facts. President-elect Obama confronts the hard realities he's up against, deficits as far as the eye can see, while also watching that new war in the Middle East...WILLIAMS, WITH “TROUBLE AHEAD” ON SCREEN, PICKING UP AFTER VIDEO OF THE PRESIDENTS IN THE OVAL OFFICE: Barack Obama, will take over, of course, during one of the most challenging times in the modern history of the United States. He made clear again today the numbers are worsening on the economy, the task is getting more serious. That's where we'll begin tonight with our chief White House correspondent Chuck Todd at the White House. Chuck, good evening.
CHUCK TODD: Good evening, Brian. You know, it's becoming a cliche to say that the problems Obama is inheriting are among the worst ever, but I tell you, the realities of the situation on the economy hit home hard today. As Obama took the podium, he was greeted by the dire news that before he spends one dollar to stimulate the economy, he'll be adding to a deficit that is now 13 digits long...
—Brent Baker is Vice President for Research and Publications at the Media Research Center
Editor at Large
Comments Policy
"before he spends one
Wed, 01/07/2009 - 21:35 ET by HockeyKid"before he spends one dollar"
Um, was he or was he not part of the clown brigade in Congress that authorized all the bailout payments thus far? Or did he vote "present" as usual, while proclaiming the dire need to get it done?
C'mon, Brian, be a man. Grow a pair and quit fawning over Duh1.
"Beauty is only skin deep, but liberal's to the bone." - me
Not to worry. I'm sure
Wed, 01/07/2009 - 21:43 ET by NC CopNot to worry. I'm sure when January 20th rolls around we'll start seeing "an upturn in the economy!". Or at least that's what will be reported. The doom and gloom will be gone and replaced by hopeful optimism.
CBS Evening News, Jan. 20...
Wed, 01/07/2009 - 21:47 ET by Sergeant ROCK.. with a wave of his hand and a smile, Obama ends global warming and world poverty. Then he went to breakfast.
Bolton/KEYES 2012
Hockey
Wed, 01/07/2009 - 23:17 ET by NorthCoasterDuh 1
ROFLMAO!!!!
Coming from Chicago, it makes sense and it goes well wit Duh Bears an Duh Cubs.
deleted
Wed, 01/07/2009 - 21:40 ET by HockeyKiddeleted
NBC News: Obama 102% Approval Rating
Wed, 01/07/2009 - 22:10 ET by Sergeant ROCKQuite possible when you consider who is doing the reporting and the polling.
Bolton/KEYES 2012
And don't forget, they've
Wed, 01/07/2009 - 22:24 ET by TheBigBAnd don't forget, they've got 57 states to poll instead of 50, so 102% is completely within reason.
Artillery lends dignity to what would otherwise be a vulgar brawl.
57 and counting...
Wed, 01/07/2009 - 22:27 ET by Sergeant ROCKEspecially, when you consider the number of felons, dead, illegal, fictional, animated, etc., etc. people that tend to vote democRAT every election.
Bolton/KEYES 2012
We are not in Kansas anymore
Wed, 01/07/2009 - 22:11 ET by ApplyCSMy opinion is that we have moved into the age of fabulist.
However, I believe my wife said it best. After watching the primary and election coverage, she simply expressed her passing opinion of the veteran/senior news anchors/reporters across the board as “a bunch of enamored gloating young girls”.
Brian Williams et al - you go girls!
Obama can't hide behind the MSM forever
Wed, 01/07/2009 - 22:53 ET by jefflebowskiThey gave him great cover during the election. He was never pressed on what he would do as President. Now he is going to have to put his little pencil neck on the line and the press won't be able to cover him forever. Soon enough he won't be able to blame everything on Bush. God help him if we get a big terrorist hit on his watch.
Angry White Dude
www.angrywhitedude.com
True
Wed, 01/07/2009 - 23:06 ET by general companyThat is what Ann Coulter was trying to tell that nimrod on nbc. But just like a typical liberal, he could not see past his own hypocrisy. These folks are either to thick or stupid or truly do have a evil intentions.
"Television is a freak show" Bernie Goldberg
Say
Wed, 01/07/2009 - 23:22 ET by NorthCoasterWasn't Nimrod a character from the Bible? He must be older than Methuselah now.
Yep
Wed, 01/07/2009 - 23:18 ET by NorthCoasterAll with thrills up their legs.
Hey I got an idea
Wed, 01/07/2009 - 23:19 ET by NorthCoasterLet's do a style piece on how wonderful the Obamas are in selecting the styles they wear. Get a load of those pecs. underneath that tailored shirt. Hey did you hear the medical news big butts and thighs are healthy now. Who would have thunk it, just in time for the Inauguration.
The public is just waiting with bated breath and curiosity. ......NOT!
Sorry, I couldn't resist.
The MSM love fest with
Wed, 01/07/2009 - 23:16 ET by celatorThe MSM love fest with Obama just goes on and on and on.
Good grief, he hasn't stepped foot in the WH and they are already explaining why he will fail miserably.
1981 RWR talked about a trillion dollars this way
Wed, 01/07/2009 - 23:23 ET by Vonu"if you had a stack of thousand-dollar bills in your hand only 4 inches high, you'd be a millionaire. A trillion dollars would be a stack of thousand-dollar bills 67 miles high."
Forget about gold, Buy timber futures.
Chuck Todd continues to
Thu, 01/08/2009 - 00:35 ET by stratmanChuck Todd continues to prove his unworthiness as inheritor of Meet The Press. He's becoming quite the road apple.
Nice to see the excuses for Obama are now coming thicker and faster.
Finally, the MSM is beginning to humanize Obama. He has now gone from the messiah to the mythological Atlas. It shouldn't be long before he is finally identified as the empty-suited Leftist civic rabblerouser he actually is.
Don't count on it!
Thu, 01/08/2009 - 05:25 ET by motherbeltThey have too much invested in him. Like GM, he is considered "too big" to allow to fail.
Trillion dollar deficits used to be greeted with horror! Now The Obama forecasts same, and the MSM just nod. They suddenly understand how hard it is to "manage" the economy.
Rush had an interesting observation yesterday. Obama promises bailouts and tax credits and all manner of "stimuli" and then forecasts trillion dollar deficits for the forseeable future. Is this not an admission that he knows what he plans to do isn't going to work?
Alas, MB, your wisdom is
Thu, 01/08/2009 - 13:53 ET by stratmanAlas, MB, your wisdom is correct.
My thought today concerning Obama is that he is a giant Floridian sinkhole waiting to happen beginning 1/21/09.
The more Barry speaks and the more he selects personel for his administration - Leon Panetta, disembowling Homeland Security, Tom Daschle, Raum Emanuel, and any number of former Clintonites - the more concerned I get about our future.
We'll weather the storm but out ship will be seriuosly listing left.
Duplicate
Thu, 01/08/2009 - 00:35 ET by stratmanDuplicate
Envious American Journalist
Thu, 01/08/2009 - 08:03 ET by AgnosticWhat can be expected from the liberal journalist in the US who dream of being like their European, Soviet and Asian counterparts. They wish they could put aside all pretenses and attack anything that isn't on the socialistic platform and hurl imature jokes at Americans who dare oppose those ideas.
The following article is one that I'm sure many editors in the US would love to run if not much worse: http://en.rian.ru/analysis/20090106/119294559.html
Also, note Russia had 39 space launches in 2008. A number that should make a real journalist who remembers the 60s, 70s or 80s to ask some questions and print some articles.
A person may be won over with logic and reason but the masses must be bought with spectacle and platitudes. - 2008 Elections
I just don't get it
Thu, 01/08/2009 - 08:26 ET by Mulligan22The solution is so obvious, why isn't BHO out there touting it.
For the last eight years we've been told GWB ruined all the surpluses created by Bill Clinton. Just ask any lib, they'll tell you this.
Well since Ol Bill is still around, why doesn't BHO just ring up Bill and ask how he did it? Afterward he hangs up the phone and proclaims, I got it! Presto Chango economy fixed.
I mean if Ol Bill knew how I'm sure he'd share. Any Lib aught to be able to tell him as well.
I just don't know why he wants to saddle us with more debt when Ol Bill's still here.
Well, Clinton did it with
Thu, 01/08/2009 - 08:53 ET by SmartypantsWell, Clinton did it with magic math. I'm sure he can still use that same math to once again proclaim that we have a "surplus". Then, he and Obama can tell us together how they, again, ended recessions forever.
Media ignore misery index
Thu, 01/08/2009 - 09:58 ET by ArminiusSince Barack Obama became president-elect, many in the mainstream media have claimed he will inherit the greatest economic crisis since FDR.
Interestingly, many in the media made similar claims before Ronald Reagan was sworn in as president. For example, according to the January 19, 1981 issue of Newsweek, “When Ronald Reagan steps into the White House next week, he will inherit the most dangerous economic crisis since Franklin Roosevelt took office 48 years ago.”
Is Obama really facing an economic crisis greater than Reagan faced 28 years ago?
The misery index (the sum of the inflation rate and the unemployment rate) was 21.98 in June 1980. It was down to 10.07 when Reagan left office in January 1988. The misery index was 7.77 in November 2008.
Given that the misery index was nearly three times as high when Reagan became president than it is today, it appears the claim that Obama will inherit the greatest economic crisis since FDR is quite an exaggeration.
Source: http://www.miseryindex.us/raw_data.asp
Media ignore misery index
Thu, 01/08/2009 - 09:58 ET by ArminiusSince Barack Obama became president-elect, many in the mainstream media have claimed he will inherit the greatest economic crisis since FDR.
Interestingly, many in the media made similar claims before Ronald Reagan was sworn in as president. For example, according to the January 19, 1981 issue of Newsweek, “When Ronald Reagan steps into the White House next week, he will inherit the most dangerous economic crisis since Franklin Roosevelt took office 48 years ago.”
Is Obama really facing an economic crisis greater than Reagan faced 28 years ago?
The misery index (the sum of the inflation rate and the unemployment rate) was 21.98 in June 1980. It was down to 10.07 when Reagan left office in January 1988. The misery index was 7.77 in November 2008.
Given that the misery index was nearly three times as high when Reagan became president than it is today, it appears the claim that Obama will inherit the greatest economic crisis since FDR is quite an exaggeration.
Source: http://www.miseryindex.us/raw_data.asp