Paul Krugman vs. Jon Stewart. The New York Times columnist and economist put his utter lack of humor on display in a Saturday afternoon blog post in which he attacked as lazy and unprofessional the host of the Daily Show. Stewart's sin? Daring to mock the trillion-dollar platinum coin as a solution to the debt ceiling crisis. Here's Krugman on "Lazy Jon Stewart":
Oh, dear. Jon Stewart took on the platinum coin, and made a hash of it -- he faceplanted, as Ryan Cooper says. What went wrong? Jon Chait says that he flunked econ, but that’s just part of it. He also flunked law, politics, and just plain professional....Above all, however, what went wrong here is a lack of professionalism on the part of Stewart and his staff....In this case, however, it’s obvious that nobody at TDS spent even a few minutes researching the topic. It was just yuk-yuk-yuk they’re talking about a trillion-dollar con hahaha. Hey, if we want this kind of intellectual laziness, we can just tune in to Fox."
The self-described "essential global news network" known as the Associated Press, more aptly characterized as the Administration's Press, has from all appearances chosen to minimize the exposure given to Friday's letter from four Senate Democrats to President Obama encouraging him to unilaterally increase the nation's debt ceiling if Congress fails to do so.
A search on Harry Reid's last name at the AP's national site at 8:30 ET this morning returned nothing relating to that letter. But there was an AP writeup about it on Sunday morning. A search on a few key words in Andrew Taylor's report found at another web site demonstrates that it's no longer available at the AP's national site. Gosh, it's almost as if AP doesn't want Americans to know that four Democratic senators are urging Obama to blatantly violate the Constitution. The first six paragraphs of Taylor's report follow the jump (bolds are mine throughout this post):
The left must think Treasury Secretary Tim Geithner is a magician, since they think funds to evade the debt ceiling can be conjured up in the form of a platinum coin.
The left-wing blogosphere has been promoting a loony idea to prevent the GOP from being able to cut spending in debt ceiling negotiations. The idea has gained traction with a Bloomberg News contributor and well-known liberal economist Paul Krugman, and being heavily promoted by sites like Huffington Post. So many people are talking about it that it has a twitter hashtag: #mintthecoin.
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]
The perilously liberal New York Times columnist Paul Krugman is not pleased with the President's handling of the fiscal cliff negotiations.
So angered is the Nobel laureate that he wrote at his blog Wednesday, "[If Obama doesn't] finally stand up for his side...nobody will ever trust him again, and he will go down in history as the wimp who threw it all away."
On Wednesday's CBS This Morning, Nancy Cordes trumpeted the passage of Senate Democrats' temporary fiscal cliff fix by the House as a "big bipartisan victory", immediately after pointing out that "the votes were about two-to-one Democratic in favor of the bill." Cordes also hyped how the bill is "a milestone, finally settling a decade-long debate over the Bush-era tax cuts," despite the fact the bill raises tax rates on top earners.
The correspondent also likened Congress to a teenaged student: "Well, if this was high school, you'd say they turned in the assignment a little bit late. It was kind of a rush job, but at least they got it done."
Here’s something I bet you thought you’d never see at the perilously liberal Huffington Post.
In a Dean Baker article published Tuesday with the astonishing title “There Is No Santa Claus and Bill Clinton Was Not an Economic Savior,” the second sentence read, “Just as little kids have to come to grips with the fact that there is no Santa Claus, it is necessary for millions of liberals, including many who think of themselves as highly knowledgeable about economic matters, to realize that President Clinton's policies sent the economy seriously off course.”
On Thursday's CBS This Morning, Major Garrett tried to shoehorn Steven Spielberg's screening of his recent film "Lincoln" for the Senate into his report on President Obama's Wednesday press conference on the fiscal cliff and gun control. Garrett hyped how the movie "celebrates presidential power and crafty legislative strategy," and that Obama "may need the wisdom of Lincoln for his latest legislative battle - gun control."
The correspondent even played a clip from the film about the sixteenth President to hint at a parallel between the passage the 13th Amendment, which happened after the carnage of the Civil War, and possible new firearms regulations in the wake of the Newtown, Connecticut massacre [audio available here; video below the jump]:
Charlie Rose and Gayle King pressed outgoing Senator Jim DeMint on Thursday's CBS This Morning over congressional Republicans resistance to tax hikes. When DeMint stated that President Obama will "probably eventually get his tax increases one way or another", Rose replied, "So, if he will get them, why not get them now and compromise and avoid going off the fiscal cliff?"
Open Obama booster King added the bad polling numbers for Republicans into the mix as she tried to get the senator to surrender to the President's demand: "You released a statement...saying this is not rocket science...with that in mind, why can't we come to terms? The public is viewing the Republican Party very negatively. Are you concerned about that?" Rose later wondered why DeMint was leaving the Senate to head the conservative Heritage Foundation.
On Monday's CBS This Morning, Norah O'Donnell seemed unsure about the extent of Tea Party's political influence. During an interview of former House Majority Leader Dick Armey, O'Donnell first indicated that the movement was a potent force: "I want to ask you...about how powerful the Tea Party is. Is the Tea Party holding back House Republicans and Speaker Boehner from agreeing to additional revenues?"
The anchor later hinted the Tea Party's power was on the wane: "FreedomWorks spent $40 million in the last election, and you had less than one-in-four of a winning record on the candidates you backed. Was it the organization, or is the Tea Party weakened?"
As Colonel Kurtz said at the end of Apocalypse Now: “the horror, the horror.” That sentiment encapsulated New York Times Republican David Brooks and syndicated columnist Mark Shields’ reactions to the rejection of the UN treaty on the rights of the disabled in the Senate last week. Brooks called it “embarrassment for the country” – while Shields called it “a profile in cowardice.” Regardless, it seems that both men forget that we have a similar bill called The Americans with Disabilities Act, which was passed under George H.W. Bush.
During the segment, which aired on December 7, NewsHour anchor Judy Woodruff decided to end her interview with Brooks and Shields on this point:
Former Speaker of the House Newt Gingrich on Sunday gave Lawrence O'Donnell a much-needed education on the economic impact of the Bill Clinton tax hikes in the '90s.
As O'Donnell precipitated the exchange, he perfectly demonstrated why MSNBC commentators are far too liberally biased to be invited on NBC's Meet the Press (video follows with transcript and commentary):
New York Times columnist Paul Krugman took a lot of heat from conservatives on ABC's This Week Sunday.
Shortly after Republican strategist Mary Matalin derogatorily asked him if he was an economist or a polemicist, George Will said, "I have yet to encounter someone who disagrees with you who you don't think is a knave or corrupt or a corrupt knave" (video follows with transcript and commentary):
Republican strategist Mary Matalin on Sunday asked New York Times columnist Paul Krugman an absolutely marvelous question.
As Krugman spewed typical Democrat talking points about the fiscal cliff negotiations on ABC's This Week, Matalin interjected, "Are you an economist or a polemicist? Just make up your mind" (video follows with transcript and commentary):
"Militantly non-partisan" Major Garrett sounded more like an Obama administration flack on Thursday's CBS This Morning as he spotlighted the President's latest P.R. stunt. Garrett noted Obama's plan to visit a northern Virginia middle-class family and claimed that the Democrat was underlining the "self-evident point that if the there is a deal and their taxes aren't raised by about $2,000, they'll be happier and spend more money."
The correspondent also uncritically pointed out how Treasury Secretary Tim Geithner signaled that the White House was willing to go over the fiscal cliff if their demand for higher taxes isn't satisfied.
On Wednesday's CBS This Morning, Major Garrett promoted a thinly-veiled version of President Obama's "Scrooge Christmas" attack on congressional Republicans. After spotlighting how White House Press Secretary Jay Carney maligned the GOP's fiscal cliff solution as "magic beans and fairy dust," Garrett added that the "Republicans answered back – bah, humbug."
The CBS morning newscast, along with NBC's Today, aided the President by failing to point out that his rejection of the Republican plan is a 180 from his position in 2011. That year, the Democrat called for "$1.2 trillion in additional revenues, which could be accomplished without hiking tax rates by eliminating loopholes, eliminating some deductions."
During the December 4 edition of the PBS NewsHour, anchor Gwen Ifill decided to give a lofty eight minute and forty second interview to Obama cheerleader and Nobel laureate Paul Krugman so he can try to convince us that the fiscal cliff isn’t that big of a deal. Of course, in his estimation, Democratic proposals for higher taxes and higher spending were serious, while Republican alternatives to tackle the deficit were trivial. In fact, according to Krugman, “Obama is actually very serious in the real sense. It's just the notion he hasn't done anything on entitlement reform is totally unfair. He's done more than anyone has ever done before.”
And that’s why he needs $1.6 trillion dollars in tax hikes and $50 billion in additional stimulus spending to be "serious" about reining in deficit spending?!
A search at the Associated Press's national website on Warren Buffett's last name at about 5 p.m. ET returned two recent items which are still present there. Each item (here and here) mentions the Obama Fan of Omaha's idea to "impose a minimum tax of 30 percent on income between $1 million and $10 million, and a 35 percent rate for income above that." Neither mentions the pathetically small amount such a tax would raise while seriously impacting the ability of high income earners who own or run businesses to expand them -- or in some cases causing them to shrink.
It's the same at other establishment press outlets. Two recent New York Times items found in a search on Buffett's full name (here and here, the latter item being Buffett's own op-ed on Sunday) fail to note how little money Buffett's proposed tax hikes would raise. So how little is "little"?
On Thursday's CBS This Morning, new White House correspondent and former Fox News journalist Major Garrett bucked the "militantly non-partisan" label he gave himself over a year ago when he hyped the President's supposed populist stand in the fiscal cliff negotiations with top leaders in Congress: "President Obama is adamant about protecting existing income tax rates for middle-income earners and raising them on the wealthy."
Garrett later spotlighted how Obama "warned Republicans not to ignore his calls to protect middle-income households from higher taxes."
Norah O'Donnell and Charlie Rose tossed softball questions at Democratic Senator Amy Klobuchar on Wednesday's CBS This Morning on the looming fiscal cliff, just two days after they hounded Republican Senator Bob Corker on the same issue. Rose casually mentioned to Senator Klobuchar how "the President believes you can't get there by deduction. You have to raise [tax] rates. Is that your view?" O'Donnell merely asked, "Is this posturing on the fiscal cliff, or is there real work being done? What's your sense?"
By contrast, Rose tried to get Senator Corker to "forgo the [anti-tax hike] pledge because it is outdated and the country's problems are too big." O'Donnell followed up by asking the Tennessee Republican if he was "willing to also raise the capital gains rate." The morning show anchors failed to make similar demands of the Minnesota Democrat to cut spending.
In an interview with CBS News anchor Scott Pelley last week, Goldman Sachs chairman and CEO Lloyd Blankfein immediately brought up a highly sensitive subject that liberals in the media and highest levels of government refuse to acknowledge: entitlement spending on Social Security, Medicare, and Medicaid are unsustainable at their current rate and need significant reform to ensure those programs exist in the future.
In response to the clip, MSNBC host Ed Schultz and Teamsters President James Hoffa were beside themselves on Tuesday night's Ed Show -- offended that Blankfein would voice such a "misinformed" view on national television. The only son of the notorious Jimmy Hoffa was ardently opposed to the idea that there is anything currently wrong with the system as is, to suggest otherwise is just "outrageous" he thundered. [ relevant video & transcript below ]
Throughout the liberal media's ceaseless coverage of the impending fiscal cliff debacle, they have fixated on hiking taxes on the "rich," even though doing so would come nowhere close to solving America's fiscal woes. Whatever short term gain in revenue from tax hikes will not last the federal government for very long, and another credit downgrade is inevitable if entitlement reform continues to be ignored.
Nowhere is this 'tax the rich' and 'fair share' obsession more blatant than on MSNBC, where the Obama administration's message is amplified on a daily basis. Take Tuesday's Jansing & Co for instance. Host Chris Jansing set up Huffington Post contributor Ryan Grim to advise President Obama and Democrats on the Hill, which amounted to him reiterating that going over the fiscal cliff may not be such a bad thing after all. Democrats can appear to be the tax cutters as a result, by reinstating the Bush tax cuts on all but the top income earners. [ video below, MP3 audio here ]
This morning the Obama administration's "National Economic Council & Council of Economic Advisers" jointly released "The Middle-Class Tax Cuts' Impact on Consumer Spending & Retailers." Among the howlers in this non-economic political document: "Independent Economic Analysis Clearly Demonstrates Why We Need to Extend the 2001/2003/2010 Tax Cuts for the Middle-class." But not everyone else? Don't high income-earners spend money too?
The primary thrust of the administration's release is that, in regards to negotiations to avoid the "fiscal cliff," is the predictable class warfare clarion call, complete with kidnapping-related rhetoric: "There is no reason to hold the middle-class hostage while we debate tax cuts for the highest income earners." The word "hostage" appears three times in the first two pages of the document. The subtext, of course, is that the hostage-holders are the Republicans in Congress, particularly the House of Representatives. At the Politico, Byron Tau ignored this classless, tasteless partisan tack by supposed professionals:
This Thanksgiving, a record high of 42.2 million Americans will use food stamps to curtail the cost of a big meal. At a whopping expense of $72 billion to the taxpayer per year, according to the Congressional Budget Office. The Supplemental Nutrition Assistance Program (SNAP) has grown by 70 percent since 2007, an increase of over 15 million more people.
Despite acknowledging all of this, Elizabeth Flock of US News & World Report declared "More Americans will use food stamps to buy their Thanksgiving dinner this year than ever before," and implied these government handouts aren't as sufficient as they could be.
During Friday’s broadcasts of the PBS's NewsHour and NPR’s All Things Considered, liberals continued with their narrative about the fiscal cliff, and how it’s not all that bad. Previously, Mark Shields and E.J. Dionne agreed with New York Times-style Republican David Brooks that they would go off the cliff. The Washington Post's E.J. Dionne equated it with the “will of the people.”
But now, the Post’s Ruth Marcus and E.J. Dionne insist that the cliff isn’t a cliff. It’s actually a well-defined “slope." But in the words of Joe Biden, “this is a big f***ing deal.”