Bailouts

Last year New York Times columnist and Nobel laureate Paul Krugman called for space aliens to invade earth so that the government would spend money to mount a defense thereby stimulating the economy.

As aliens have yet to comply with Krugman's wishes, he advocated on HBO's Real Time Friday that scientists should get together and lie about an imminent attack to boost federal spending (video follows with transcript and commentary):

Bill Maher is either a blithering idiot, a pathological liar, or both.

On HBO's Real Time Friday, the factually-challenged financier of Barack Obama actually had the gall to say the President didn't support the recommendations of his National Commission on Fiscal Responsibility and Reform (aka Simpson-Bowles) because - wait for it! - Republicans didn't support it (video follows with transcript and commentary):

Leave it to America's strongest ally in the world to speak the truth.

On Thursday, England's Telegraph published an article with the absolutely glorious headline "Britain Can’t Afford to Fall for the Charms of the False Economics Messiah Paul Krugman":

As NewsBusters reported Thursday, White House press secretary Jay Carney during the previous day's press gaggle cited a bogus MarketWatch report hysterically claiming "Obama Spending Binge Never Happened."

Washington Post fact-checker Glenn Kessler looked at Carney's comments as well as Rex Nutting's article Friday and gave their assertions three Pinocchios:

A bogus report published by MarketWatch Tuesday claiming "under Obama, federal spending is rising at the slowest pace since Dwight Eisenhower brought the Korean War to an end in the 1950s" has been all the rage at the White House and MSNBC.

Conservative columnist Ann Coulter correctly observed Wednesday:

On Sunday's NBC Meet the Press, CNBC Mad Money host Jim Cramer followed Obama campaign talking points perfectly as he decried Mitt Romney's business record at Bain Capital: "Romney's known as a job destroyer, not a creator....I think Bain sticks. I think the idea that you bring in Bain...they fire a lot of people and that's how they get prosperity for the rich." [Listen to the audio or watch the video after the jump]

At the same time, Cramer dismissed a positive forward-looking Romney ad outlining specific policy proposals: "I just don't think that this will stick." He concluded the Bain attacks against Romney were "a more resonant theme" and better "than anything that Romney's come up with."

New York Times columnist Paul Krugman on Sunday continued his campaign to get Barack Obama reelected by misinforming the public about the economy.

Appearing on CNN's Fareed Zakaria GPS, the Nobel laureate falsely claimed Republican presidential candidate Mitt Romney wants to enact Greece's failed economic policies here in America (video follows with transcript and commentary):

I have a serious question for MSNBC's Chris Matthews: How many lies are you willing to tell on national television to get Barack Obama reelected?

On Friday's Hardball, the host gave viewers a plethora of falsehoods and half-truths to giving us an idea of just how far he's prepared to go this election cycle to make sure the objection of his affection remains in the White House (video follows with transcript and commentary):

Greece is the perfect example of the eventual outcome of unchecked spending – especially as it creeps closer and closer to defaulting on its massive debts, despite multiple government bailouts in May 2011. One recent BBC News headline warned: “Greece: ‘Default within the euro is possible’.”

But, looking back, some journalists predicted the opposite: that the Greek economy would survive because of government bailouts. Huge fan of government-deficit spending, Paul Krugman, has been writing about Greece a lot, arguing that its trouble is proof that austerity doesn’t work.

Fresh off his humiliating defeat on Jeopardy! Monday night, MSNBC's Chris Matthews actually introduced a pair of guests Tuesday as "two of the most smartest people."

Almost as funny, "two of the most smartest people" in the Hardball host's opinion are Congressman Barney Frank (D-Mass.) and former Clinton labor secretary Robert Reich (video follows with transcript and commentary):

On Monday's CBS This Morning, Charlie Rose and Erica Hill touted Massachusetts Democrat Elizabeth Warren's past time as "the government's chief watchdog during the 2008 bank bailout" as she was brought on to discuss JP Morgan Chase's $2 billion loss. Rose and Hill asked all of their questions from the left, and completely ommited any mention of the recent controversy over Warren's claim of Native American ancestry.

The anchor set up the Senate candidate to push for more regulations on banks without rebuttal: "It's appropriate to have some government oversight, and notwithstanding the fact that we're just coming out of this huge crisis." Hill even wondered if the banks themselves "should be broken up into smaller entities."

CNN's Fareed Zakaria asked a question this weekend guaranteed to raise some eyebrows not only on both sides of the aisle but also on both sides of the Atlantic.

On the program bearing his name, Zakaria amazingly asked Sunday if the economic problems in Europe are caused by democracy and not austerity (video follows with transcript and commentary):

The Obama Palace Guard is waging a losing battle to suppress the truth in a new ad from Americans for Prosperity, which explains how more than $2 billion in “stimulus” money went to foreign companies.

The “Wasteful Spending” ad, airing in 8 states with a media buy of $6.1 million, has also drawn criticism from the self-styled arbiters of political truth at the Washington Post.

You can imagine why: Obama promised the “stimulus” would “create or save” millions of American jobs, but with election day now less than six months away and millions more Americans jobless than before Obama took office, an ad questioning why Obama sent tax dollars to foreign companies really undermines the  campaign's efforts to distract people.

Last August, Politico revealed that the Obama campaign intended to make Republican presidential candidate Mitt Romney "a sort of political Gordon Gekko" if he won the nomination.

Right out of that playbook, MSNBC's Chris Matthews on Monday compared Romney to the financial villain of the '80s movie classic "Wall Street" (video follows with transcript and commentary):

Google Chairman Eric Schmidt gave a much-needed economics lesson to New York Times columnist and Nobel laureate Paul Krugman on ABC's This Week Sunday.

During a lengthy discussion about liberal and conservative views on how to stimulate the currently soft recovery, Schmidt - a known Barack Obama supporter - marvelously said to his left-leaning co-panelist, "Surely you're not arguing that the government should hire all the unemployed people" (video follows with transcript and commentary):

A truly shocking thing happened on CNN's Fareed Zakaria GPS Sunday.

The perilously liberal host - with journalistically corrupt ties to the current White House - came out against the millionaires' tax known as the Buffett Rule calling it "bad politics in the long run for Obama" (video follows with transcript and commentary):

For over a year, the Left and their media minions have dishonestly claimed Congressman Paul Ryan's (R-Wisc.) proposed budgets would "end Medicare as we know it."

At the end of a discussion about Monday's report from the Medicare trustees predicting the program goes bankrupt in 2024, Special Report host Bret Baier got NPR's Mara Liasson to admit Medicare will end as we know it even if Congress doesn't pass the Ryan plan (video follows with transcript and commentary):

It has become clear what the Obama campaign's strategy for trying to win states like Michigan and Ohio is and will continue to be. In three steps, it's as follows: 1) Pretend that the states' Republican governors, John Kasich in Ohio and Rick Snyder in Michigan, who both succeeded free-spending Democrats who presided over stagnant economies, have had nothing to do with their increased employment, lower unemployment rates, and improved business climates (as well as balanced budgets in fiscal 2012 involving no tax increases, though Snyder may ruin that in Michigan this year); 2) Instead give the credit for all of these favorable developments to Obama and the governments' bailouts of Chrysler and General Motors; 3) Don't say anything about how other states run by Dems, particularly Illinois, North Carolina, and Connecticut, are lagging because they have instead tried to apply Washington's tax-and-spend model to their states' fiscal situations.

Of course the AP, aka the Adminisitration's Press, is all too willing to make the administration's laughable claims appear credible. It did so in two separate items this week, one giving basic details about the job-market situations in Ohio, Michigan, and North Carolina, and the other covering Obama allegedly improving chances of winning Ohio, Michigan, and a dozen other "swing" states. There was no mention of the Buckeye State's or Wolverine State's chief executives in either article.

Have the executives running MSNBC informed their employees that it's completely acceptable to lie on the air if it helps President Obama win reelection this November?

On Thursday, Martin Bashir flat out lied to make the case to his audience that Republican presidential candidate Mitt Romney is going to hell for supposedly lying when he says the current White House resident promised unemployment would not rise above eight percent if his stimulus package was enacted (video follows with transcript and commentary):

There was a truly delicious moment on ABC's This Week Sunday that should be mandatory viewing for all liberal media members.

After the perilously liberal editor of The Nation magazine, along with Obama's former domestic policy adviser, blamed all the nation's problems on Republican obstruction in Congress, the Wall Street Journal's Paul Gigot struck back saying, "The first two years [Obama] had open field, Democratic, vast Democratic majorities. You got what you wanted. You got a huge expansion of federal government. How is that working out?" (video follows with transcript and commentary):

Well, the Associated Press, aka the Administration's Press, apparently has Missouri Democratic Congressman and Congressional Black Caucus Chairman Emanuel Cleaver's back. As of 2:40 p.m., there is no national story relevant to Cleaver's unpaid $1 million-plus loan at the wire service's national site, even though information published by the Kansas City Star late Friday evening (interesting timing; HT to KC Star's David Helling, who later informed me that the story made Page A-1 of the Star's Saturday print edition, while the original received the same placement on Friday) indicates that taxpayers could be out up to $1.1 million because the Small Business Administration-backed a loan to Cleaver's car wash business back in 2002 which is has been seriously delinquent for years. The Bank has sued for repayment.

There is an unbylined local AP story which appears to have been published shortly after midnight on Monday (shown in full because of its brevity and for fair use and discussion purposes):

National Review's Reihan Salam on Sunday proved once again that liberal media members no matter what their number are no match for one well-informed conservative.

On CNN's Fareed Zakaria GPS, Salam took on the host, Time magazine's Joe Klein, and the Nation's Katrina Vanden Heuvel on a far-ranging discussion about how both sides of the aisle view taxes, the Tea Party, and social change with the conservative ending up looking like the only knowledgeable person in the room (video follows with transcript and commentary):

On Tuesday's CBS This Morning, Charlie Rose lobbed a series of questions from the left at Republican Congressman Paul Ryan. Rose wondered if the recent trend towards social issues in the Republican presidential race was "troubling." The Wisconsin Republican replied, "It's not troubling for me, and...I think that's more about the media, and maybe the Democrats, who are trying to move it in that direction."

The anchor also touted the auto bailout as an Obama administration success: "The bailout- should that be an issue, and should the voters look at Governor Romney and Governor Santorum [sic] and say, we had an economic bail-out of the auto companies and look what happened? Profits are up, and they're both doing well." Rose later asked Ryan if he thought that the apparently better economic numbers was "good news for President Obama" [audio available here; video below the jump].

One thing I’ve learned in the year I have spent tracking General Motors cum Government Motors (GM) - and all its Crony Socialist, green non-energy “energy”, flammable absurdities - is the fact that the car media are every bit the Leftist open-channel steno pool as are the political media.  

And with President Barack Obama running for reelection in large part on the utterly failed “success” of the $85 billion auto bailout, the car and political media have by now achieved fully melded fusion.

The examples are myriad.

In anticipation of Michigan's GOP primary the liberal media have been playing up Barack Obama as the savior of Detroit and turning Mitt Romney into its villain. Even though the auto bailout has cost taxpayers $14 billion the liberal media have been championing Detroit's "comeback" as a victory for the Obama administration.

On Thursday's CBS Evening News, Dean Reynolds practically crowed, as he asked GM Chairman Daniel Akerson: "Did President Obama save General Motors?" Reynolds then pointed out how Romney "argued the bailout was unnecessary, and that the regular bankruptcy process would have made GM and Chrysler stronger companies" and asked, "Would that have happened?" Akerson, dutifully responded that if not for the bailout: "you could have written off this company, this industry and this country." (video after the jump)

Despite the cost of the auto bailout to taxpayers, CNN hailed the subsequent resurfacing of GM as a "pretty amazing" feat and took a jab at the original opponents of the bailout, which included current presidential candidate Mitt Romney. Thursday's John King, USA featured fill-in host Kate Bolduan and business correspondent Ali Velshi wagging their fingers at Romney and the naysayers.    

"And, by the way, Kate, I know you didn't ask me the question, but those people who fought against the auto bailout a couple of years ago kind of have egg on their faces right now," Velshi quipped. [Video below the break.]

“Did President Obama save General Motors?” CBS’s Dean Reynolds asked General Motors Chairman and CEO Daniel Akerson as both sat inside a GM plant. On Thursday’s CBS Evening News, Akerson affirmed he did and “the Obama administration did a good job.”

Reynolds pointed out how Mitt Romney “argued the bailout was unnecessary, and that the regular bankruptcy process would have made GM and Chrysler stronger companies. Would that have happened?” Akerson rejected the notion, insisting if not for the bailout “you could have written off this company, this industry, and this country.”

Leading off Wednesday's NBC Nightly News, anchor Brian Williams spun hard for the Obama administration as he distorted Mitt Romney's opposition to the government bailout of the auto industry: "The fight for Michigan as Mitt Romney scrambles to explain to the voters in his home state why he thought the auto industry should be allowed to fail."

Having ignored the fact that Romney called for a "managed bankruptcy" of General Motors and Chrysler in order for them to reorganize and become healthier companies, Williams announced to viewers: "Mitt Romney's in a tough spot....he's working hard to explain why he was against the government's auto industry bailouts. That doesn't go over well in the state we associate with Detroit and American cars."

According to CNN's Soledad O'Brien, the auto bailout led to a "pretty incredible resurgence" in the American auto industry. She grilled Congressman Mike Rogers (R-Mich.) on Thursday morning over candidate Mitt Romney's previous opposition to the bailout, saying that his opposition and the auto industry's eventual success could become a "huge, huge problem" for the candidate.

"[H]e was against the bailout, and the bailout looking back now, has been successful. Isn't that just standing on the wrong side at the end of the day?" O'Brien pressed Rogers, a special advisor to Romney's campaign. But O'Brien failed to report some of the specific consequences of the bailout, such as the cost to taxpayers. [Video below.]