CNN's Eliot Spitzer arrogantly lectured about the benefits of Keynesian economics Sunday while accusing fellow panelists on "Fareed Zakaria GPS" of not knowing what they were talking about because they weren't business owners.
This led British historian Andrew Roberts to point out that President Obama's administration are mostly academics, and Ann Coulter to ask Spitzer, "What business have you ran? You’re a governor" (video follows with transcript and commentary):
Author Ann Coulter sparred with Joy Behar on Reaganomics on Wednesday's episode of The View. "How are you going to solve it if you don't have any revenue coming in?" asked Joy Behar of the conservative commentator, who is currently promoting her latest book, Demonic. "When Reagan cut taxes, each year, as the taxes went down, revenue to the treasury went up" Coulter responded.
As The View's most ardent leftist, Behar went on to try to blame bad loans and the housing crisis on Republicans. Coulter merely rebutted with the facts. "You cannot blame the Republicans on that" said Coulter. "The big banks then bundled them to the mortgage-backed securities, they got spread out into everyone's portfolio. So it was like a poison in the economy."
Dennis Cauchon at USA Today has been one of a very few establishment press reporters willing to expose federal workers' disproportionate pay and benefits (previous examples here and here) as well as Uncle Sam's precariously dangerous financial situation.
Cauchon has two USAT items today on the latter topic (HT to NB commenter Gary Hall): "U.S. funding for future promises lags by trillions," which reports that federal obligations totaled $61.6 trillion as of September 2010, a $5.3 trillion increase from a year earlier, and "Government's Mountain of Debt," which itemizes those obligations by major source.
Unsurprisingly, 75% of federal obligations, or a combined $46.2 trillion (actually more, which will be seen at the end of this post), relate to Social Security and Medicare, which no one but a few deluded leftists believe (or pretend to believe) are sustainable in their current form. Unfortunately, at the end of his first story, Cauchon quoted one of them, Michael Lind, whom the USAT reporter described as "policy director at the liberal New America Foundation's economic growth program," who said the following:
As no clear frontrunner emerges in the Republican presidential nomination race, the liberal media are in a full-scale panic over the thought that the former governor of Alaska might eventually enter and challenge their beloved president in November 2012.
On Sunday, "Face the Nation's" Bob Schieffer asked Mississippi Governor Haley Barbour with some incredulity, "Could you ever envision yourself supporting a ticket that had Sarah Palin at the top?" (video follows with transcript and commentary):
MSNBC's Chris Matthews on Thursday got a much-needed economics lesson from CNBC's Joe Kernen.
In the midst of a discussion about the economy and how it's going to impact the 2012 elections, the "Hardball" host bragged about having studied economics in grad school leading Kernen to marvelously ask, "You studied economics?" (video follows with transcript and commentary):
It never ceases to amaze me what people on MSNBC are willing to say while cameras are rolling.
On Wednesday, the perilously liberal Cenk Uygur - with a straight face no less! - told Congressman Brian Bilbray (R-Calif.) in the midst of a budget discussion, "I'm actually a fiscal conservative" (video follows with transcript and commentary):
On Friday, Newsweek's Evan Thomas said the recent special election in New York's 26th Congressional district proves "demagoguing works" and that former President Bill Clinton is a hypocrite when it comes to Medicare reform.
"Inside Washington" co-panelist Charles Krauthammer agreed saying that President Obama is also a hypocrite on this issue, and that "between now and at least until Election Day, Democrats will do absolutely nothing on entitlements except demagogue it" (video follows with transcript and commentary):
Charles Krauthammer said Tuesday that the press are so in bed with President Obama that they are actually supporting Democrat lies about Medicare and Congressman Paul Ryan's (R-Wisc.) plan to save it.
Appearing on the "O'Reilly Factor," the syndicated columnist also told the host that Fox News is "extremely powerful" because it "broke the monopoly that liberals had on all the media for about 30 years" (video follows with transcript and commentary):
This morning, Associated Press reporters Ricardo Alonso Zaldivar and Stephen Ohlemacher went back to an AP-GfK poll yours truly thoroughly discredited on May 11 (at NewsBusters; at BizzyBlog). That's when the AP's Liz Sidoti and Jennifer Agiesta laughably claimed that President Obama's approval had jumped to 60%.
NBC's David Gregory must have thought he had performed another gotcha on a prominent Republican Sunday when he cited a poll to his "Meet the Press" guest Congressman Paul Ryan (R-Wisc.) finding people aren't interested in reducing Medicare spending in order to balance the budget.
Without skipping a beat, Ryan marvelously educated his host saying, "I don't consult polls to tell me what my principles are or what our policies should be. Leaders change the polls" (video follows with transcript and commentary):
If you had any questions as to why Dylan Ratigan belongs on MSNBC rather than CNBC they were all answered Friday night.
Appearing on HBO's "Real Time," Ratigan presented himself as a far-left commentator telling the audience of devout liberals, "This entire rhetoric machine from the Republican Party is predicated on an abandonment of arithmetic and fact" (video follows with transcript and commentary):
Ed Schultz on Thursday mocked Congressman Paul Ryan (R-Wisc.) as a young, inexperienced kid who's never run a business, never had to meet payroll, and who offered up a radical plan that he doesn’t know the ramifications of.
As the host of the "Ed Show" whined, he clearly missed the irony that these very same things were said about the former junior senator from Illinois prior to Election Day 2008 (video follows with transcript and commentary):
When an admittedly liberal Nobel laureate in economics thinks trying to balance the budget is holding America hostage, one has to wonder if there are any adults remaining on the left side of the aisle.
Consider what New York Times columnist Paul Krugman wrote Monday:
The depths the shills on the Left will go to impugn their enemies knows no bounds.
On Sunday, the George Soros-funded organization Think Progress falsely accused Congressman Ron Paul (R-Tx.) of comparing Social Security and Medicare to slavery (video follows with transcript and commentary):
New York Times columnist Paul Krugman said Sunday that Democrats should risk a debt default to avoid being blackmailed by Republicans that are holding a bomb "over our head" in the form of serious budget cuts.
This came moments after FDIC chair Sheila Bair told ABC's "This Week" panel, "I think maybe there's a little too much testosterone in this debate. It’s too much about winning and losing and not enough both sides are right, let’s come together and have a solution" (video follows with transcript and commentary):
"Inside Washington" host Gordon Peterson on Friday joined the ranks of liberal media members claiming Republican calls for Democrats to stop saying the GOP is trying to destroy Medicare is hypocritical due to their support for Congressman Paul Ryan's (R-Wisc.) budget proposal.
When he got his chance to address this absurdity, syndicated columnist Charles Krauthammer marvelously set the record straight (video follows with transcript and commentary):
Here's a safe prediction: The "bipartisan" group of congressmen led by Vice President Joe Biden will fail to solve the $14 trillion debt crisis.
Here's another prediction: The Heritage Foundation (www.heritage.org/) has developed a formula, made possible by a grant from The Peterson Foundation (www.pgpf.org/), that could balance the budget in 10 years, reduce the debt to 30 percent of gross domestic product within 25 years, cut the size of the federal government in half by 2036, reform the tax code, restructure Social Security, Medicare and Medicaid, while protecting the most vulnerable, and not increasing taxes if -- and it is a very big if -- politicians prefer the solution to continued bickering.
Last November, MSNBC's Lawrence O'Donnell admitted on air to being a socialist.
In a segment on "The Last Word" Tuesday addressing how Cuba - a country nearing economic ruin - is moving towards capitalism, O'Donnell said, "We are all socialists in this country who support public education, state funded universities, government-run hospitals, Medicare, Social Security, classic socialistic programs that have sensibly found their way into the American economy" (video follows with transcript and commentary):
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":