The limited government, anti-bailout Tea Party movement party turned five years old on Feb. 27. They marked the occasion with an event in Washington, D.C. including speakers Rep. Michele Bachmann, R-Minn. Sen. Rand Paul, R- Ky., and Sen.Ted Cruz, R-Texas.
But after the five years of the media painting tea partiers as “wingnuts” and “racist” time and again, ABC, CBS and NBC went virtually silent on the matter that day.
CNBC’s Rick Santelli recalled the five-year anniversary of the stimulus, housing bailout and blowing “a gasket” during “Squawk on the Street” today.
“On Feb. 19 I blew a gasket. But basically, what was born at that point was the voice of dissension. How do we know that? Many of course still remember the IRS issues. President said maybe there wasn’t a smidgen of, of, of negativity there or news there or anything inappropriate there,” Santelli explained. “But it seems like, if you look back, it was February of 2009 where all of that started if you look at some of the IRS records. But dissension was born!” (Video Below)
Five years ago, CNBC’s Rick Santelli reacted to the possibility of a mortgage bailout with frustration on live television. Quickly, his speech on the trading floor became known as the “rant heard round the world.”
Santelli, an on-air editor who reports live from the Chicago Board of Trade, is frequently interviewed during “Squawk Box” and “Squawk on the Street.” It was during one of those morning discussions on Feb. 19, 2009, that Santelli let loose on a potential bailout of homeowners arguing that “the government is promoting bad behavior” and proposing that capitalists gather in Chicago for a “Tea Party.”
In yet another negative milestone for the bailouts that supposedly saved the U.S. auto industry — already a hard-to-handle claim given that Chrysler, one of the two beneficiaries, is now 100% owned by an Italian company — Volkswagen has surpassed General Motors as the world's number two automaker behind Toyota.
The reporting on this development has been quite sparse. It's not news at the Associated Press's national site, even though AP mentions VW in a report on Super Bowl ad and social media strategies. At USA Today, James R. Healey's could easily have inserted the news into his story today on the 65th anniversary of the VW Beetle's first arrival here, and didn't. What follows is an excerpt from Expatica, one of the few publications to note the shakeup in the auto industry hierarchy:
Former Federal Reserve Chairman Alan Greenspan made some rather ominous economic observations Sunday.
Appearing on CNN’s Fareed Zakaria GPS, Greenspan said, “[T]he level of uncertainty about the very long-term future is far greater than at any time I particularly remember.” He blamed it on “government intervention [that] has been so horrendous that businesses cannot basically decide what to do about the future” (video follows with transcript and commentary):
Just when you think liberal radio host Mike Malloy can't say anything crazier than he already has, out comes another gem.
On Monday as the President and his Party were refusing to compromise with House Republicans thereby setting the wheels in motion for a government shutdown, Malloy called the GOP "religious psychopaths" who "want women to get cancer," "girls to get sexually transmitted diseases," and "Jews to kill everybody in the Middle East" in order to "bring Jesus back!" (video follows with transcript courtesy Radio EQ):
As NewsBusters previously reported, Tea Party Congressman Raul Labrador (R-Id.) on Sunday's Meet the Press made a fool of MSNBC's Chris Matthews over his lack of knowledge regarding how many times the government shut down when his former boss Tip O'Neill was Speaker of the House.
As it turns out, the Washington Post also mocked Matthews for his ignorance last Thursday in a piece deliciously titled "Sorry, Chris Matthews: Tip O’Neill and Ronald Reagan Were Terrible at Averting Shutdowns."
Chris Matthews has a new book out about his former boss the late Speaker of the House Tip O'Neill.
Despite this, the MSNBC host was made a fool of on Sunday's Meet the Press by Tea Party Congressman Raul Labrador (R-Id.) concerning how many times the government was shut down when O'Neill ruled the House (video follows with transcript and commentary):
Most of America’s media think President Obama's 2009 bailout of General Motors and Chrysler was a huge success.
Former Massachusetts Democratic Congressman Barney Frank threw cold water on this meme on NBC’s Meet the Press Sunday correctly informing viewers that the auto bailout lost money for the federal government. By contrast, we made money from George W. Bush's 2008 bank bailout (video follows with transcript and commentary):
I guess we should acknowledge a tiny improvement when an ordinarily in-the-tank apparatchik like Jim Kuhnhenn at the Associated Press expresses even the slightest bit of skepticism about a White House claim.
But let's not take it too far. Kuhnhenn is reporting in a brief "Big Story" item this morning that President Obama "is laying claim to an economic turnaround and warning Republicans not to risk a backslide by threatening a government shutdown or a debt default." Kuhnhenn's skeptical points are that "The economic scorecard is mixed. ... Growth has been tepid and unemployment remains high." His five-paragraph report, reproduced in full for fair use and discussion purposes, follows the jump.
If we're to believe Tom Raum's Friday afternoon report at the Associated Press, aka the Administration's Press, the economy is humming along smoothly enough that we really shouldn't think about it that much any more, especially as something to consider when voting. And besides, it's being "eclipsed" by "other pressing events."
I'll stay away from those other "events" in the interest of concentrating on the 3-1/2 paragraphs Raum employed to convince readers that things really are okay, followed by a quote from a reliable leftist apparatchik (bolds and numbered tags are mine):
Potentially the most dishonest aspect of the Obama-loving media's reporting since January 20, 2009, pertains to how they've almost totally ignored how poorly the economy is performing.
On Tuesday, Michael T. Snyder, author of the gloom and doom book "The Beginning of the End," wrote a fabulous piece titled "33 Shocking Facts Which Show How Badly The Economy Has Tanked Since Obama Became President":
A November 15, 2010 blog post by Michael S. Derby at the Wall Street Journal ("San Francisco Fed Official Says QE2 Is Working") told us that "The Federal Reserve‘s recently announced plan to buy $600 billion in Treasury securities to improve economic growth is having a positive effect on growth." The Fed official involved also predicted "the U.S. gross domestic product to come in at 2.5% this year (2010), and at 3.5% next year and 4.5% the year after that."
Uh, not exactly. Actual GDP results: 2.5% in 2010 (that was a gimme), followed by 1.8% and 2.8% in 2011 and 2012, respectively. Almost three years letter, the San Fran Fed's acknowledged result of that effort at "quantitative easing" — it "added about 0.13 percentage point to real GDP growth in late 2010" — is starkly different, and is only "positive" if you think a football team managing one field goal in four quarters is "positive." Of course, though it should be, the news is getting very little coverage.
Ed Schultz has spent weeks blaming Detroit’s recent bankruptcy filing on Republican policies, even though the city has been firmly in Democratic hands for decades. The bombastic MSNBC host has called the city a “conservative utopia,” arguing that Republican anti-union policies have “gutted Detroit.”
Schultz’s latest tirade came on Saturday’s The Ed Show, when the left-wing host bizarrely claimed that Republicans have “taken democracy away from Detroit.” Schultz further suggested that Republicans “circumvent[ed] local elections in this country” and “discard[ed] what people want and say about their communities.”
ABC This Week viewers on Sunday were treated to a classic socio-economic debate between liberals and a lone conservative.
With the issue at hand being Detroit's announced bankruptcy and whether the federal government should bail it out, the liberal view was championed by the Nation's Katrina Vanden Heuvel and MSNBC's Steve Rattner. On the right was George Will who clearly won the scrum despite being tag-teamed (video follows with transcript and commentary):
Yesterday, President Obama gave another warmed-over version of the same economic policy speech that’s been given for the past five years at Knox College in Illinois. He saved the automobile industry. He’s overseeing an economic recovery. Republicans are intransigent. And he’s the best person to ever breathe oxygen on this planet. Yada, yada, yada.
Now with polls showing a record number of people calling for the repeal of ObamaCare, the president needed to pivot towards, well, jobs – again. Not that the liberal media have noticed the maddeningly repetitive same-old, same-old of it all. We’re getting to the point where the media should be calling the president out on this tactic, although with very few exceptions, no one's doing that.
On his eponymous Sunday program, Ed Schultz blamed Republicans for Detroit’s recent bankruptcy filing, implying that the GOP is “happy to see Detroit go bankrupt” and that Governor Rick Snyder (R-Mich.) is “swindling public workers out of their hard-earned pensions.” Schultz accused Republicans of wanting to “quit” and “surrender” on Detroit, launching into a 13-minute diatribe against Snyder and Republican policies of “free trade and outsourcing.”
The bombastic MSNBC host was also critical of Snyder’s efforts to remove blighted structures in the city, an effort funded by the Obama/Lew Treasury Department. Schultz blasted the federally-supported undertaking, claiming Snyder “wants to spend money to destroy the city”:
CBS's Bob Schieffer got a much-needed lesson in recent history Sunday.
During a Face the Nation discussion with House Speaker John Boehner (R-Oh.), after the host wrongly claimed sequester was "the creation of Congress," Boehner interrupted him saying, "That's wrong. Who insisted on the sequester? The President of the United States" (video follows with transcript and commentary):
Martin Bashir on Tuesday said New York Times columnist Paul Krugman "deserves the Nobel Peace Prize."
Yes, the MSNBC host said Peace Prize - not one for economics - all because the perilously liberal economist has advocated more deficit spending and even more federal debt to stimulate the economy (video follows with partial transcript and commentary):
Usually movie makers strive to stay ahead of the cultural curve. It makes them “visionaries,” who are “cutting edge,” because they “push the envelope.” Two years ago, “Occupy Wall Street” was the hot fad, stoking the usual left-wing outrage at bankers and the finance industry, who were portrayed as greedheads never held accountable for their crimes. Businessmen just twirl their mustaches and laugh evil laughs.
But that was two years ago. Time for something fresh – and edgy. A new movie suggests that movement was for sissies. It’s time for someone to start a new campaign: Assassinate Wall Street.
Recent college grads are in a tough spot, with student loans that need repayment and an economy that is leaving many of them underemployed or worse. But the network news media have exaggerated individual burdens of student debt by using examples of enormous rather than average debts. They’ve also often ignored systemic problems that have led to the “crisis” of student loan defaults, at the same time that the left has called for bailouts.
When network news stories include college students who talk about how much they owe for their education, the average amount was a whopping $66,833. But the 2012 average student loan debt, was much lower: $27,253.
“Assault on Wall Street,” directed by Uwe Boll and starring Dominic Purcell, takes the liberal agenda to a whole new level. Every possible liberal ideal – anti-gun, anti-capitalism, the evils of health insurance companies, crazy gun supporters – is depicted in this 1 hour and 39 minute movie, which was released on May 10 in limited theaters and on Amazon instant video.
Within the first ten minutes, viewers were introduced to evil Wall Street executive Jeremy Stancroft (John Heard) saying, “Our responsibility begins and ends with our partners and shareholders and that is it.”
MSNBC is well-known for excusing the failures of President Obama, usually by blaming Republican “obstructionism” for Obama’s faltering agenda. If that doesn’t work, they will pretend that the Obama administration is free from guilt regarding any criticism it may receive, essentially living in denial.
Take the Monday May 13 edition of Now w/ Alex Wagner when Time magazine assistant managing editor Rana Foroohar ridiculously asserted in light of the IRS/Tea Party scandal that, “What’s so sad about it is the president has been very rightfully proud of the lack of scandal in his administration so far.” [See video after jump. MP3 audio here.]
Having two months ago said that his high taxes were leading him to consider dumping liberalism, HBO's Real Time host said Friday, "If you’re rich you should be begging the government to redistribute your wealth" (video follows with transcript and commentary):