Hope springs eternal at CNN, at least some of the time. Sure, the massively expensive Obama stimulus was a miserable flop. And extending unemployment benefits worked to extend periods of unemployment, as numerous studies have shown. Government jobs programs have failed for decades.
No matter. According to business correspondent Alison Kosik on CNN Newsroom today, a jump in jobless claims proves more government intervention is necessary:
ALISON KOSIK, CNN BUSINESS CORRESPONDENT: Kate, we've got a lot of negative news all at once, that's weighing down the markets right now. You know what, pick your poison at this point, we got unemployment claims. They rose more than expected, much more than expected, double what was expected. That's after all the optimism that was created from the previous week's numbers. We're inching back towards the 400,000 mark we've so much been trying to get away from. It really just shows that people still need a lot of help from the government because people are still being laid off.
On MSNBC's "Daily Rundown" today, Steve Liesman robustly defended raising gasoline taxes as a way to address rising oil prices.
The CNBC senior economics reporter minced no words to show his support for hiking the unpopular consumption tax in the midst of a sluggish economic recovery: "I want to offer that one of the real solutions here is a gas tax."
After positing that the problem with oil prices "is not that they're high, it's how they oscillate," Liesman claimed higher gas taxes "would accomplish two things: one, it would create incentives to use less of it and two, create a little more certainty around the price, which by the way is one of the things making gasoline a bad fuel for the economy."
New York Times columnist Paul Krugman on Friday made the idiotic claim that House Republicans are stealing food from babies and pregnant women.
Later that evening, appearing on PBS's "Inside Washington," syndicated columnist Charles Krauthammer demonstrated just how foolish Krugman's assertion was (video follows with transcript and commentary):
"Crazy Larry" O'Donnell is at it again. On "Morning Joe" Wednesday, the MSNBC host questioned the entire debate over which government spending programs to slash, asking why the president and Congress are even considering cutting spending in the first place. "I think we've lost a first principle here," he remarked of the situation.
What is this "first principle" O'Donnell speaks of? "Why are we cutting spending in a recession?" he asked. "The recession has not included a jobs recovery yet. I don't think it makes any sense for the government to be downsizing while we don't yet have the jobs recovery." So apparently O'Donnell thinks that in the midst of a recession (which technically ended in June of 2009, although the recovery has been jobless) we cannot afford to cut spending programs, even those outside of Social Security and Medicare.
And at least O'Donnell admitted of no job recovery. As the MRC's Iris Somberg reported today, the major networks largely failed in the last two years to report President Obama's failed promise that the Stimulus would keep unemployment under 8 percent. Unemployment reached as high as 10.2 percent in the two years and still exceeds 8 percent.
On Monday, President Obama announced that 2011's budget deficit is going to be an all-time high $1.65 trillion.
In an interview with Fox News's Bill O'Reilly later in the day, ABC's George Stephanopoulos predictably blamed the red ink on former President George W. Bush (video follows with transcript and commentary):
In his lifetime, Princeton economics professor and Nobel Laureate Paul Krugman has published 20 books, over 200 papers, and since the year 2000 two columns a week at the New York Times.
Clearly without understanding the irony of his question, the man once accused by the Gray Lady's ombudsman of possessing a "disturbing habit of shaping, slicing and selectively citing numbers" asked his readers Monday, "How can voters be so ill informed [sic]?":
MSNBC's Ed Schultz began his show Monday railing against American corporations sitting on trillions of dollars of cash while refusing to exhibit "economic patriotism" by using those funds to add to their payrolls.
In a demonstration of classic liberal hypocrisy, the host of the "Ed Show" finished his program calling AOL's purchase of the Huffington Post "a big f-in deal" while not once asking the website's editor Roy Sekoff if any new jobs would be created with the $315 million the owners are receiving or if all the writers would finally be paid for their contributions (videos follow with transcripts and commentary):
Former Reagan Chief of Staff James Baker on Sunday took issue with having the 40th President blamed for financial deregulation.
When "Meet the Press" host David Gregory brought this up at the end of his program, Baker replied, "[The deregulation of the financial industry didn't occur on Ronald Reagan's watch, it occurred for the most part, I think, on Bill Clinton's watch" (video follows with transcript and commentary):
As NewsBusters previously reported, CNBC's Rick Santelli was very disappointed by Friday's jobs report from the Labor Department showing a surprising decline in the unemployment rate to 9.0 percent.
Disappointing is hardly the word I would use for buried inside the numbers was another huge decline in the size of the American labor force that should have economists and government officials fearing for our ability to ever balance our budget or be able to fund our rising expenditures without issuing more and more debt.
As the Bureau of Labor Statistics' Employment Situation Summary stated (emphasis added):
Ed Schultz on Tuesday spent a great deal of time blaming the crisis in Egypt on rising food prices tying commodity inflation to former President George H.W. Bush and Wall Street speculators.
Not once in over fifteen minutes of air time were the name Bill Clinton or the two bills he signed into law that deregulated the financial services and commodity futures industries mentioned (videos follow with partial transcripts and commentary):
The President that expanded the role, scope, and size of the federal government more than all that came before him or since is unquestionably Franklin Delano Roosevelt.
Yet on Tuesday, moments after calling Congresswoman Michele Bachmann a "balloon head," MSNBC's Chris Matthews actually said FDR "bailed out capitalism in the '30s" (video follows with transcript and commentary):
Despite virtually all economists and the Chairman of the Federal Reserve finding Friday's unemployment report disappointing, MSNBC's Ed Schultz parroted President Obama's take that the numbers released by the Labor Department were good news.
The "Ed Show" host crowed so gleefully about the much-maligned data that he even said it was evidence the 2009 stimulus package worked (video follows with transcript and commentary):
Appearing as a guest on Friday’s Countdown show on MSNBC, Washington Post staff writer and Newsweek columnist Ezra Klein defended Obamacare and warned Republicans against attempting to repeal the law as he contended that some provisions are popular with the public. After host Keith Olbermann asked if Democrats should "relish rejoining the fight over health care reform" because it could hurt Republicans, Klein urged Democrats to fight. Klein:
They should be going to war over it. It's an incredibly important achievement for them, and if Democrats cannot defend a deficit-reducing bill that brings health care insurance to 32 million people and allows folks with pre-existing conditions to get any insurance they want, if they can't defend that, frankly, they, on some level, don't really deserve to be a party. If you can't defend the best thing you've done in a generation, then you've got some political problems that are bigger than anything the Republicans are doing to you.
The Washington Post writer eventually predicted that Republicans would be embracing and defending Obamacare by the year 2050. Klein: "In 2050 Republicans will be saying, ‘How dare you cut Obamacare?’"
As she debated conservative rocker Ted Nugent on a special edition of CNN’s Anderson Cooper 360 on Wednesday during the 9:00 p.m. hour, liberal comedian Roseanne Barr tagged Sarah Palin a "loon" and a "traitor to this country" and, although she apologized later, called Palin’s followers the "dumbest people on Earth," and described them as being "on the government dole."
Barr: "I think she's a loon and I think she's kind of a traitor to this country because she would love to erase the line between church and state, which I think this country was founded upon and should never, ever be trifled with in any way."
After guest and Democratic strategist Cornell Belcher brought up the popularity of anti-intellectualism, the liberal comedian added: "Yeah, she's got that, her followers are the dumbest people on Earth. ... No, but seriously, they can barely scare up a pulse. I'm serious. They're not, they are really stupid. They're stupid."
She soon continued: "The people who like Sarah Palin are all on the government dole going out there and bitching about people wanting to get on the government dole. Please. Every one of them is on the government money."
Despite the bipartisan tax cuts orchestrated by the White House and Congress - and heralded by most Wall Street analysts! - in December, calls for tax hikes by liberal news outlets will be prevalent in the new year.
Confirming this was the New York Times on Sunday pounding this drum with predictable certitude in an editorial simply titled "The Economy in 2011":
On Saturday’s CBS Evening News, correspondent Bob Orr filed a report on the incoming Republican congressional freshmen, and, after noting that Rep.-elect Allen West was taking a "hard line" on federal spending, and after showing a clip of the Florida Republican raising doubts about compromising "your principles," the CBS correspondent used the cliche "partisan bickering" as he warned that such views could end the recent "collaborative spirit" in Congress, and plugged President Obama’s call for "cooperation." Orr:
It's a warning of sorts that the collaborative spirit of the recent lame duck Congress may soon dissolve into renewed partisan bickering. President Obama, vacationing in Hawaii, today made a preemptive bid for continued cooperation.
After soundbites from Republican Rep.-elect Ben Quayle and the Politico’s David Mark, Orr concluded his report predicting that Tea Party Republicans could "cause trouble" within the Republican caucus:
The award for Best Line of the Weekend goes to Wall Street Journal editorial page editor Paul Gigot who on Sunday's "Meet the Press" offered a delicious irony concerning Friday's surprise press conference hosted by Barack Obama and Bill Clinton.
"I love the symbolism of two Democratic presidents--not one, but two--endorsing Bush tax cuts, saying, 'We need them crucially to help the economy' (video follows with transcript and commentary):
Charles Krauthammer on Monday said that when Barack Obama spoke to the nation hours ago to announce a tax extension compromise just reached with Republicans, "It was actually a speech addressed at Daily Kos, the New York Times, and MoveOn."
In Krauthammer's view expressed on Fox's "Special Report," "This was a speech aimed at appeasing the Left which is extremely angry over this" (video follows with transcript and commentary):
During a discussion of the agreement to prevent tax rates from increasing in January, on ABC’s World News Sunday, anchor David Muir and ABC’s senior Washington correspondent Rick Klein fretted that the federal budget deficit would increase - against the wishes of the voters - as a result of both the blocking of a tax increase and the extension of unemployment benefits. But neither acknowledged that raising taxes could depress the economy and cause tax revenue losses. After a full report had run that recounted the agreement to extend the Bush tax cuts, Muir conveyed his belief that the plan contradicts voter concerns about the deficit during his discussion with Klein. Muir:
And, Rick, quickly, this comes after voters in the midterms seemed so concerned about government spending and the deficit, and yet, we’re hearing now about tax cuts and more spending for the benefits.
Klein warned that "everything that Congress is set to do is going to make" the budget deficit and national debt problems "even worse," and complained about less revenue being collected when "you’re cutting taxes." Klein:
Shortly after the Labor Department announced a very disappointing jump in the unemployment rate to 9.8 percent, Google News featured as its top story an Associated Press article published Thursday predicting "the tight job market may be easing at last."
Here's a screen cap of Google News from about an hour ago:
There are times when one has to think the Manhattan building that is the home of the New York Times doesn't have any windows, doesn't have any television sets, and doesn't have any doors that allow employees to venture out and actually see what's happening in America beyond the walls of 620 Eighth Avenue.
Consider that after the impact the Tea Party has had on our nation's politics the past 20 months, and the historic elections that just took place on November 2, Times columnist Tom Friedman actually thinks Americans aren't interested in reducing the federal deficit but are instead yearning for higher taxes and greater government spending:
New York Times columnist Paul Krugman on Friday said the reason so many Republicans are opposed to the Federal Reserve's new monetary stimulus scheme of quantitative easing is because they really want the economy to stay weak in order to harm President Obama.
Readers are advised to strap themselves in tightly in preparation for the paranoid lunacy on display:
Glenn Beck has been a favorite punching bag for liberal media members since he moved from HLN to Fox News and started getting huge ratings.
The folks at NBC's "Saturday Night Live" have also been on this Beck bashing bandwagon, which made the following sequence during Saturday's opening sketch rather surprising (video follows with transcript and commentary):
Despite 9.6 percent unemployment nationally, with some areas of the country suffering far worse than that, the New York Times editorial board believes state governments must raise taxes to balance their budgets: