Budget

In the early 1990s, politicians floated the term “peace dividend” regarding a hoped-for post-Cold War reduction in the U.S. defense budget, and Pentagon spending indeed fell somewhat in the mid- and late ‘90s. Sean McElwee, a research associate at the lefty think tank Demos, argues that America now needs a post-9/11, post-Afghanistan, post-Iraq peace dividend which would allow greatly increased…

It's bad enough, as Bryan Ballas at NewsBusters noted on May 16, that the Washington Post's Philip Bump dishonestly used last week's Amtrak tragedy to rip Republican members of Congress for somehow being responsible for the (theoretically) for-profit entity's "constant struggle" for funding. As Sean Davis at the Federalist explained, Amtrak has really had no funding struggles. Bump had to make…

On Tuesday, Associated Press reporter Martin Crutsinger celebrated the federal government's large April budget surplus, caused by "a flood of tax payments (which) pushed government receipts to an all-time high." He didn't mention that the tax payments were higher largely because of tax increases passed in 2013. It certainly didn't occur because of an improving economy — because it's not…

Without any evidence of what caused the crash of an Amtrak train in Philadelphia Tuesday night, all three network morning shows on Wednesday had no hesitation in suggesting a lack of government infrastructure spending was to blame. NBC's Guthrie:  "And another issue people have raised is that because this is such a heavily traveled section of track that there are also infrastructure issues....Is…

It was enough to make a blogger in mom's basement spit out his Cheetos in surprise.  On today's Morning Joe income redistributionist and global climate kvetcher Prof. Jeffrey Sachs praised the UK Conservatives for creating jobs via an austerity budget. In a second surprise, Sachs criticized fellow lefty traveler Paul Krugman. Said Sachs of the Conservatives: "they governed well . . . they got…

Japan just reported yet another awful retail sales result. Though it far exceeeded predictions of a 7.3 percent fall, the 9.7 percent March 2015 plunge compared to March 2014 doesn't reveal much, as March 2014 saw a splurge at the stores ahead of a steep sales tax increase which took effect on April 1. The really telling figure is the 1.9 percent seasonally adjusted dive compared to February.…

So when is a recession not a genuine recession? Apparently when it's "technical." Unfortunately, the term "technical recession" appears to be well on the way to devolving into what has long been considered the real definition of a recession for the purpose of discounting its validity.

It was the best of coverage - it was the worst of coverage.

Late Monday afternoon, the Associated Press's Martin Crutsinger produced a typically dodgy dispatch on the government's Monthly Treasury Statement. The Treasury Department released the March version of that report covering the first six months of the current fiscal year early Monday afternoon. The odd thing is, while it has been published elsewhere at the web sites of certain of its subscribers…

Elizabeth Stoker Bruenig claims that the use of “taxpayers” (rather than "people") in discussions of fiscal and economic issues benefits conservatives for reasons including that it “seems to subtly promote the idea that a person’s share in our democratic governance should depend upon their contribution in taxes” and bolsters the makers-vs.-takers argument that became associated with Republicans…

On today's Morning Joe, Mika Brzezinski suffered a bad bout of PKSD: Post Kiss Stress Disorder.  After a clip was rolled of John Boehner blowing kisses at a reporter, Mika got all verklempt, exclaiming "I know a lot of dirty old men who did that to me. I'm throwing up. That brought back bad memories."   Things got so bad for poor Mika that she eventually fled the set and had to be coaxed back.

Terrorists target America's shopping malls, but the nation is defenseless thanks to partisan Republicans shutting down the Department of Homeland Security. That's the ominous picture the three major networks painted this week. Instead of offering balanced coverage of a fight that tied DHS funding and Republican opposition to Barack Obama's executive order amnesty, ABC, NBC and CBS hyped the…

In a classic example of phony political jujitsu, an MSNBC contributor has tried to turn the patriotism issue back against Republicans. Appearing on today's Ed Show, Steve Clemons attacked the "patriotism" of GOP congressional leaders, accusing them of "undermining the security of the nation."   This because Republicans have attached amendments to the DHS funding bill denying funds for President…

On Monday, both NBC's Today and CBS This Morning used a terrorist threat against the Mall of America in Minneapolis to hit the Republican Congress over the Department of Homeland Security funding fight. On Today, White House correspondent Kristen Welker concluded her report on the security concerns by declaring: "Meanwhile, the clock is ticking with Congress locked in a bitter battle over how to…