Last weekend, David Ignatius in his Washington Post column made a vital contribution to the debt and deficit debate: "Take the deficit pain now. It's a truth of economics and life that if you have bad news coming, take the hit early and get it behind you. You can't start building until the debris is out of the way."
Ignatius offers various examples from history (e.g., Fed Chairman Paul Volker's 1979 interest rate hikes that caused the recessions of the early '80s, but broke the inflation psychology and (I would add, with Ronald Reagan's policies) built the foundation for 25 years of prosperity.
If you had any questions about just how far to the left New York Times columnist Paul Krugman is, they were answered Monday when he expressed enthusiastic support for the Congressional Progressive Caucus's radical tax-hiking "People's Budget."
In his "Let's Take a Hike," the Nobel laureate left no doubt about his desire to swiftly redistribute America's wealth with little regard for the economic consequences:
As NewsBusters has been reporting, the media have been on a full-court press in recent days supporting the President's push to raise taxes.
Doing his part was NBC's David Gregory who trotted out the words of former Vice President Walter Mondale on Sunday's "Meet the Press" to really drive home the point, and then got a huge assist from former Federal Reserve Chairman Alan Greenspan (video follows with transcript and commentary):
CNN's Howard Kurtz is either astonishingly naive or so strongly in the tank for Barack Obama that he's willing to ignore the totally obvious to assist the President's reelection efforts.
On Sunday's "Reliable Sources," Kurtz actually discussed with far-left guests Joan Walsh of Salon and John Aravosis of Americablog.com - without ever disclosing the painfully inconvenient truth! - why the "so-called liberal media" don't report divisions within the Democrat Party especially left-wing disappointment with the current White House resident (video follows with transcript and lots of commentary):
As NewsBusters previously reported, ABC's "This Week" invited on a number of Tea Party Congressman Sunday to discuss the budget debate going on in Washington.
Just before that segment, ABC's John Donvan did a brief report that concluded with him insinuating that this conservative movement is drinking tax cut Kool-Aid and President Obama is having none of it (video follows with transcript and commentary):
As NewsBusters has been reporting, since President Obama once again proposed letting the Bush tax cuts expire for the highest earning Americans, the media have been supporting it almost 24 hours a day.
Doing his part this weekend was Chris Matthews who after the introduction of the syndicated program bearing his name actually began the show, "Why is taxing the rich so hard?" (video follows with transcript and lots of commentary):
During a pre-recorded commentary aired on CBS’s Sunday Morning show, right-leaning actor and economist Ben Stein - also a CBS contributor - blamed "excessive tax cuts" enacted by former President Bush and congressional Republicans for "starting the problem" of the current federal budget deficit, and advocated raising taxes on the wealthy in addition to "major spending cuts" and changes in Medicare and Social Security to get the deficit under control. Stein: "The Republicans who started the problem with excessive tax cuts in the Bush years will have to agree to raise taxes at least upon the truly rich of whom there are plenty."
And, while ignoring the presence of a Republican Congress that helped restrain spending growth during the Clinton administration, and the spike in tax revenue fueled by an unsustainable tech bubble, Stein concluded his commentary praising former President Bill Clinton and former Treasury Secretary Robert Rubin as "grown-ups," awarding them credit for the balanced budget of the late 1990s.
Stein: "The grown-ups like Bill Clinton and Robert Rubin - his Treasury Secretary who actually balanced the budget - left the federal fiscal scene more than 10 years ago. Now it's time to live within our means. No more voodoo economics. We can do it. The first step is back through the looking glass into reality. We've got to do it."
Tea Party Congressman Joe Walsh (R-Ill.) had quite an illuminating discussion with Christiane Amanpour Sunday.
As the host of ABC's "This Week" pushed for higher taxes, Walsh correctly pointed out that Barack Obama's first 2012 budget proposed earlier in the year didn't address entitlement programs saying, "The President of the United States ought to be ashamed of himself, and I don't know why your profession hasn't gotten on him more" (video follows with transcript and commentary):
It certainly isn't a surprise that Nobel laureate Paul Krugman was far more pleased with the deficit reduction plan proposed by Barack Obama this week than the one unveiled by Rep. Paul Ryan (R-Wisc.) last week.
In Friday's New York Times column "Who's Serious Now?" the unabashed liberal declared the President's proposal "really serious" and the Congressman's "a sick joke":
The undisguised bias of a dispatch tonight by Associated Press reporter Laurie Kellman, with help from Scott Bauer, about Wisconsin Governor Scott Walker's appearance before a Congressional committee may have as its source two items found at the Newspaper Guild's web site (seen after the jump).
One is an announcement relating to a possible deterioration in the Guild's negotiations with AP, where union members have been working without a contract since November. Immediately below the announcement is an extraordinarily mean and spiteful cartoon produced by "alternative" comic Tom Tomorrow directed at Wisconsin Congressman Paul Ryan which has no place at the site of a group wishing to at least maintain a fig-leaf pretense of objectivity.
First let's look at several of the sentences seen in the 10:26 p.m. version of the pair's report (saved here at my host for future reference, fair use and discussion purposes) -- after the headline ("Wisconsin governor defends hobbling unions'), with which the AP pair may have had help:
Now that President Obama has put tax increases on the table in order to balance the budget, his media are going to put even more pressure on Republicans to comply.
A fine example of this happened on CNN's "John King USA" Thursday when the host actually asked Sen. Rob Portman (R-Oh.), "Should Republicans now have the open mind and the courage to maybe lose their jobs like President Bush did for the good of the country and at least say entering the conversation, 'We won't flatly, ideologically, reflexively rule out any tax increases?'" (video follows with transcript and commentary):
Last November, MSNBC's Lawrence O'Donnell proudly declared himself a socialist on national television.
On Wednesday, "The Last Word" host took this a huge step further saying the whole idea that Americans are rugged individualists is an illusion because they're all really socialists (video follows with transcript and commentary):
Charles Krauthammer was less than pleased with Barack Obama's speech Wednesday concerning his plan to bring down the nation's staggering budget deficit.
As the panel segment of Fox's "Special Report" began, Krauthammer said, "I thought it was a disgrace. I thought I’ve rarely heard a speech by a president so shallow, so hyper-partisan, and so intellectually dishonest, outside the last couple of weeks of a presidential election where you are allowed to call your opponent anything short of a traitor" (video follows with transcript and commentary):
Emphasizing that all but one of the top 30 income earners in the United States are white males, Mika Brzezinski clamored that it is time for the wealthy to pay their fair share and help solve the budget crisis on Monday's "Morning Joe."
Co-host Joe Scarborough and liberal New York Times columnist Charles Blow were in the midst of a debate about cutting entitlement spending when Mika chimed in. After Scarborough argued that making cuts to middle-class entitlements is necessary for the country's fiscal health, Brzezinski quipped that the rich should be contributing more to solve the budget deficit.
On the same day a new poll found only 37 percent of liberals strongly approve of Barack Obama's performance as president, the New York Times's Paul Krugman bashed America's chief executive for being missing in action.
"What have they done with President Obama?" asked the Nobel Laureate. "Who is this bland, timid guy who doesn’t seem to stand for anything in particular":
Trashing Rep. Paul Ryan (R-Wisc.) as "Dr. Kevorkian," CNN political contributor Paul Begala condemns the congressman's bold proposal to revamp Medicare in his latest op-ed for CNN.com. If the GOP follows Ryan's plan, "like lemmings," Begala writes that their agenda will end in disaster.
He interprets the plan as nothing less than an attempt "to deny ill and infirm seniors the health care they deserve – while giving oil companies billions in taxpayer subsidies." The "lives and health" of the elderly are now in the hands of the "tender mercies" of the insurance companies. Is this a hint at death panels?
Ryan's plan involves transforming Medicare, which he sees as a fiscally unsustainable program in the long run, into a voluntary system where the elderly are covered by private insurance companies and their premiums are subsidized by the government.
In the 1965-1971 comedy series "Hogan's Heroes," prison guard Sergeant Schultz is a "bumbling, highly unmilitary 325-pound Sergeant of the Guard. Schultz is a basically good-hearted man who, when confronted by evidence of the prisoners' covert activities, will simply look the other way, repeating 'I hear nothing, I see nothing, I know nothing!'"
Reviewing past NewsBusters posts featuring or concerning newly selected chair of the Democratic National Committee Debbie Wasserman Schultz, we've already seen on several occasions that the Florida Congresswoman knows nothing concerning things with which she ought to be quite familiar. Schultz edged out the buffoon I would have preferred, the bumbling former governor of Ohio, "Turnaround Ted" Strickland, who was defeated by Republican John Kasich in November. Strickland thus became the first incumbent Buckeye State governor to be defeated in 36 years.
The most prominent example of Ms. Wasserman Schultz's ignorance came in a town hall meeting on April 5, 2010 which was noted by Matt Cover at CNS News and in an EyeBlast TV post at NewsBusters -- and of course ignored by the establishment press. Get a load of what the Congresswoman and her staff repeatedly claimed with a straight face:
The far-left in America are having a collective conniption fit over President Obama's decision to attack Libya.
Included in the wolf pack is the Atlantic magazine's Andrew Sullivan who despite his preposterous claims of being a conservative appeared on "The Chris Matthews Show" this weekend and said, "I don’t know why anybody voted for Obama in the primaries...[now] we have this politicized Clintonian mess" (video follows with transcript and commentary):
The back and forth between Washington Post syndicated columnist Charles Krauthammer and White House Office of Management and Budget Director Jacob ("Jack") Lew continues. Thus far, Krauthammer has won both rounds, including his punch-out on Thursday.
It all started on February 21, when Lew issued a "rebuttal" to a USA Today editorial which called for near-term action to deal with Social Security's structural problems. In it, he claimed, among other things, that "Social Security benefits are entirely self-financing," and that even though tax collections are now less than benefit payments and will probably remain so indefinitely, the system "will have adequate resources to pay full benefits for the next 26 years." Ergo, per Lew, "Social Security does not cause our deficits." Zheesh.
Yesterday, Washington Post syndicated columnist Charles Krauthammer performed an act of journalism that anyone in the establishment press could have done -- and didn't -- for 17 days.
Krauthammer did a masterful job of taking apart Obama White House Office of Management and Budget Director Jacob ("Jack") Lew's ridiculous February 21 defense of Social Security and its alleged irrelevance to the deficit in USA Today.
But he went further. He caught Lew saying the exact opposite thing 11 years ago when he was -- wait for it -- Bill Clinton's White House Office of Management and Budget Director.
Here are key excerpts from Krauthammer's column on the fundamental truths about Social Security and the fundamental fib foisted on McPaper by Jack Lew (bolds are mine):
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):
With the unveiling of Obama's 2012 budget today, some newspapers around the country framed the $3.7 trillion proposal as a serious attempt to slash the federal deficit.
The Washington Post, The Boston Globe, the Daily Herald, the Fort Worth Star-Telegram, and the DC Express, couched the administration's massive budget as a fiscally responsible plan that makes "deep" and "big" cuts to "rein in deficits."
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]?":