ABC’s Chutzpah: Scolds Congress for ‘Pay-Go’ Spending When It Ma
Three months after the networks, led by ABC’s Jonathan Karl, derided Senator Jim Bunning for daring to hold up an “emergency” spending bill which circumvented the “pay as you go” rules, as Karl made a fool of himself chasing the elderly Senator into elevators to cajole him to give in, on Monday’s World News Karl had the chutzpah to scold Congress for approving “emergency” spending which doesn’t…
Reporting on Guv's Call for Eliminating Calif. 'Welfare-to-Work' Progr
Today was a same-old, same-old day in California.For the second year in a row, a state official has proposed eliminating the former Golden State's "welfare-to-work" program, which the rest of us know as "welfare," or Temporary Assistance for Needy Families (TANF). Last year, it was left to a spokesman for the state's Department of Finance to bring out the idea. This year, Governor Arnold…
AP Won't Dare Compare: April Deficit Report Ignores Huge April '07 and
The comparison of the results contained in the April 2010 Monthly Treasury Statement released this afternoon to April of last year is bad enough. But if the American people knew that April 2010 came in about a quarter-trillion dollars worse than both 2007 and 2008 with almost 40% less in tax collections, most of them would be appalled. Many more than are already doing so would be questioning what…
Deficit Comes In Just Below CBO Estimate; Economists' Predictions Were
It doesn't seem like this exercise should be that tough. The government issues Daily Treasury Statements telling everybody what went in and out on a given business day. At the end of the month, the last Daily Treasury Statement has a record (admittedly jumbled and larded with lots of bureaucratic excess) of all receipts and disbursements for the month. The folks at the Congressional Budget…
Chris Matthews: Greece's Woes the Fault of Right-wing Governance; But
Chris Matthews is stuck in the 1970s, it seems, and I'm not talking about his pop culture references.
Talking with CNBC's Jim Cramer on the May 6 "Hardball" about the Greek fiscal crisis, everyone's favorite MSNBCer blamed "right-wing" dictators from the Cold War era for financial troubles in Greece, Portugal, and Spain [MP3 audio available here]:
I'm a political guy, you're a money…
Paul Krugman Is Nation's Most Partisan Economist, Study Finds
Most economists are not susceptible to partisanship in their work, a new scholarly study finds. But anyone who reads Paul Krugman's columns in the New York Times will hardly be surprised to learn he is a glaring exception to the study's findings. He consistently changes his fiscal views depending on the party in power."Krugman has changed his tune in a significant way regarding the budget deficit…
CBO Estimate: $85 Billion April Deficit, Federal Receipts Still Fallin
If a genuine, sustained economic recovery is truly underway, why can't the government show us the money? This would appear to be a question the establishment press has no interest in answering. As seen in the graphic at the right (HT to an e-mailer), when the government's Monthly Treasury Statement is released next Wednesday, the anticipation is that it will show an April deficit of $85 billion…
Despite Dismissive Media, Palin's 'Death Panels' Resurface in WH Ratio
PolitiFact called it the Lie of the Year, and journalists left and right (but mostly left) dismissed the claim as hyperbole at best, and fear-mongering propaganda at worst. But Sarah Palin's "death panel" comment may not be as off the mark as so many have claimed. Don't take her word for it. White House budget director Peter Orszag apparently agrees.Well, Orszag didn't specifically address Palin'…
Pentagon Rescinds Franklin Graham’s Invitation, Al Sharpton is Welco
The Pentagon rescinded the invitation of evangelist Franklin Graham to speak at its May 6 National Day of Prayer event because of complaints about his previous comments about Islam. The Military Religious Freedom Foundation expressed its concern over Graham's involvement with the event in an April 19 letter sent to Secretary of Defense Robert Gates. MRFF's complaint about Graham, the son of…
Media Confusion: Why the Tea Party Protest? Not High Taxes, but Govern
The media is still having trouble understanding the Tea Party movement and what it is protesting, even though its roots are clear. On Feb. 19, 2009 during CNBC's "Squawk Box," Rick Santelli made his famous rant heard around the world, calling for a so-called tea party-style revolt. And that helped fuel the growth of a Tea Party movement that has resulted in more than 600 protests this April 15…
CBS 'Early Show' Ignores Astronaut Criticism of Obama's Space Program
On Wednesday's CBS Early Show, fill-in news reader Betty Nguyen reported on President Obama's new plan to cut back America's space program, but failed to mention sharp criticism by astronauts Neil Armstrong, Jim Lovell, and Eugene Cernan in a signed letter sent to the White House.Nguyen noted: "President Obama unveils a revamped plan for America's manned space program....reviving part of a plan…
AP Cites 'Dramatic' March Deficit Reduction Due to $115 Billion Non-Ca
Last May, I wrote a column called "The Federal Deficit Becomes Nearly Indecipherable," pointing to a mid-fiscal year policy shift in how the government handles the Troubled Asset Relief Program (TARP) and other bailout efforts:
What Treasury did in April (2009) was to convert the TARP “investments” it began making in October in the country’s financial institutions, General Motors, Chrysler…
Another Left-Wing Attack on CNN: Group Demands Network Not Air 'I.O.U
The left wing seems to know no bounds in its efforts to ideologically cleanse CNN of any seemingly rational point-of-view when it comes to the issues of the day. Although liberal were successful in their effort to rid the network of Lou Dobbs, some elements are now hung up on also eliminating recently hired contributor Erick Erickson from CNN's programming. And now a liberal group called…
