Budget

Former Democratic Michigan governor turned Current TV commentator Jennifer Granholm got a much-needed education Sunday about the difference between Mitt Romney's involvement with Bain Capital and President Obama's forays into green energy investment.

"When Bain invested," said George Will on ABC's This Week, "it invests money that it gets voluntarily to be invested. When the president throws a half-billion dollars away on Solyndra, it's money taken away by the police power of the federal government from unwilling taxpayers" (video follows with transcript and commentary)

At the Associated Press aka the Administration's Press on Saturday, Andrew Taylor's "Fact Check" item on President Obama's stump speech claim in Iowa on Thursday dove into the trees without first looking at the forest.

Distracted by ridiculousaurus Rex Nutting's write-up earlier in the week at MarketWatch ("Obama spending binge never happened"), which absurdly claimed that "government outlays (are) rising at slowest pace since 1950s," Taylor spent paragraph after paragraph going into the nuances of "the Wall Street bailout" (really TARP, which wasn't all about "Wall Street," unless GM and Chrysler have recently moved there) and the disputes over who should be responsible for various items of and increases in spending the fiscal 2009. He either didn't understand -- or didn't want to communicate that he really did understand -- exactly what President Obama said, which follows the jump:

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):

Former Secretary of State Colin Powell on Friday blamed the media and "especially" cable television for the nasty tone in politics today.

Such occurred during a discussion with Jay Leno on NBC's Tonight Show (video follows with transcript and commentary):

CNN failed to correct bogus numbers claiming that the growth rate of spending under President Obama is the lowest since Eisenhower. Instead, host Erin Burnett reported the news as something positive for the White House.

While most anyone with common sense would label Obama a big spender, the MarketWatch report – re-circulated by the White House – absurdly claims Obama's "spending binge never happened." And CNN did not discount that argument although they twice reported on it.

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:

New York Times White House reporter Jackie Calmes on Saturday once again nodded along to the wisdom of the liberal priorities of the Obama administration and its supporters, this time as they're pushing the necessity of raising taxes: "As a Debt Battle Looms, Budget Veterans See No Option but to Raise Taxes." It depends on which "budget veterans" you talk to, of course, and Calmes only talked to those who favor tax hikes.

With less than six months to go before Election Day, the Obama-loving media's advocacy has passed shameful and is now approaching downright unimaginable.

On Saturday, the Associated Press actually published a piece with the headline, "Is GOP Trying to Sabotage Economy to Hurt Obama?":

Although it may not surprise NewsBusters readers, it appears MSNBC's Ed Schultz doesn't pay any attention to what he says, what others on his network report, or what is covered by any mainstream media outlet.

What else could be the explanation for Schultz claiming in an interview with Talking Points Memo that the most under-covered story in the country right now is wealthy people not paying their "fair share" of taxes (question in bold):

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):

The Sunday interview show hosts all reacted with disbelief toward House Speaker John Boehner’s pledge to demand spending cuts equal to the debt ceiling increase, with CBS’s Bob Schieffer the most derisive as he declared “it was a week when you couldn’t believe your ears” because, when Boehner said the same thing last year, “Congress tied itself in such a knot that America’s credit rating was downgraded, not to mention Congress’ approval rating which hit a new low. And now he wants to fight the same battle? Was he kidding?”

Schieffer rued: “Does this mean we’re headed towards another of those nasty ‘stop everything’ political standoffs in an election year?”

"Sometimes you do wonder if [Republicans] are moles, Manchurian candidates for I don't know who, if their real job is to bring down America."

So said New York Times columnist Paul Krugman on MSNBC's Martin Bashir show Friday (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):

Here's a word which the Associated Press's Martin Crutsinger only used once in his coverage last Thursday of Uncle Sam's April 2012 Treasury Statement: "debt." And when he did, he was quoted someone about Europe's situation.

To his credit, the AP reporter wasn't particularly impressed with the fact that the government was able to run a single-month surplus of $59 billion in April. To his detriment, he didn't note that somehow, the national debt also went up by $110 billion:

Here we go again. The State of California's budget is again in crisis, facing a budget deficit of $16 billion, which is $6.8 billion higher than projected mere months ago. Governor Jerry Brown is browbeating residents to pass tax initiatives in November which include "a quarter-cent increase in the state sales tax for four years and a seven-year hike on incomes of $250,000 or more that will range from 1 to 3 percentage points."

The totally predictable problem (and, from all appearances, a bit contrived; the state's controller saw this coming several months ago, and was largely ignored) is that tax revenues aren't coming in as expected. Media treatment of the problem acts as if this all some kind of uncontrollable act of God which is a by-product of the recession and weak recovery.

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):

Martin Bashir -- he who slammed Ann Romney as "two-faced," gratuitously ripped fellow Christian Rick Santorum by comparing him to Stalin, and cravenly suggested Santorum's less of a genuine Christian than Barack Obama  judged by the amount of money the men gave to charity respectively -- mounted his moral high horse yet again to thunder hellfire and brimstone upon a conservative Republican.

The target of MSNBC's demon deacon today was Rep. Joe Barton (R-Texas), whom Bashir was calling to account for his plans to vote for a bill that would spare the Pentagon of budget cuts by trimming social welfare spending elsewhere in the federal budget.

In one of a virtually endless stream of such examples, a Monday Associated Press report by Elaine Ganley and Greg Keller on challenges facing newly elected French Prime Minister, Socialist Francois Hollande, described him as "the leftist who has pledged to buck Europe's austerity trend."

What a deceptive joke. Europe's attempt at "austerity" can't be a "trend," because it hasn't even started. The "Fiscal Treaty" involved (at Google Docs; at RTE News [large PDF]) hasn't even taken effect. Article 14, as explained by RTE's Europe Editor Tony Connelly, "will enter into force on January 1 2013 so long as 12 member states have completed ratification." A Monday editorial at Investor's Business Daily took the press to task for its pretense, and in the process noted facts about the monstrous growth of government in EU countries the U.S. establishment press won't report (bolds are mine throughout this post):

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):

CNN's Anderson Cooper twice nailed Democrats in the last week for falsely accusing Republicans of waging war on women's health, but the three major networks either ignored the story (ABC) or skimmed over the details without fact-checking the Democratic accusations (CBS, NBC).

Cooper aired a critical "Keeping Them Honest" report on April 27 and another one on Thursday May 3, refuting Democratic complaints that Republicans were unfairly targeting women's health through preventative care cuts. On the weekend of April 27-29, NBC and CBS covered the preventative care cuts but simply aired soundbites from both parties without investigating the validity of the Democratic accusations. [Video below the break. Audio here.]

There ought to be a law against newscasters blatantly lying to the public.

On Monday, MSNBC's Martin Bashir falsely claimed the economic plans put forth by Great Britain and Spain are "the Romney-Ryan budget in action...almost exactly, word for word" without informing his viewers that those countries raised taxes to fight their deficits (video follows with transcript and commentary):

On Monday, CBS This Morning gave leftist New York Times columnist Paul Krugman a platform to promote his new book and to spout his usual prescription of massive government spending. Krugman also bashed Mitt Romney: "He's going to make Herbert Hoover look good by comparison." Anchor Gayle King boosted her guest by twice citing President Obama's praise for the author as "one of the smartest economic reporters."

Krugman briefly acknowledged the "long-term budget problem," but quickly added that "now is not the time to be slashing....Now is the time to be doing public works, to be rehiring those school teachers, to get this economy moving again." He also ripped the austerity measures taken by several European countries: "You look at what's happening in Europe and...we just learned that austerity is not the answer...the big problem now is not to have a new stimulus, but simply to reverse those cuts at the state level."

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):

In the first quarter of 2012, the federal government spent $966 billion. That's 10% more than the $877 billion spent during the previous quarter, and 2% more than the $949 spent during the first quarter of 2011.

Yet the party line Friday evening from Christopher Rugaber and Paul Wiseman at the Associated Press, aka the Administration's Press, is that economic growth in the first quarter, which the government preliminarily told us yesterday was an annualized 2.2% (trailing consensus estimates of 2.6%), was so mediocre because of "government budget-cutting." A closer look indicates that if anything, they should have tagged it as defense budget-cutting and never did; the rest of government spending continues to balloon out of control. The pair's opening six paragraphs follow the jump.

[UPDATE: CNN covered the story throughout the day, interviewing Fr. Reese from Georgetown University not twice, not three times, but a total of four times on Thursday. Aside from the liberal James Salt of Catholics United, no other guest appeared on CNN to discuss the issue.]

When liberal Catholics protested Rep. Paul Ryan (R-Wisc.) speaking at Georgetown University on Thursday, CNN jumped all over the story and gave it 11 full minutes of coverage during the 9-11 a.m. hours of Newsroom. In contrast, when the Obama administration issued its birth control mandate and Catholic bishops voiced their staunch opposition, CNN mentioned the story once in ten days.

Anchor Carol Costello brought on two guests protesting Ryan's budget, and hosted no supporter of Ryan although she did read his own statement in defense of his budget. She reported the "collision of politics and faith" and that the congressman was "about to get his knuckles rapped by dozens of Catholic priests." The CNN headline blared "Fellow Catholics Blast Ryan."