Economy

On Tuesday's CBS This Morning, Charlie Rose and Norah O'Donnell stayed true to form in conducting a tag team-style, confrontational interview of a conservative/Republican, this time House Republican Conference Chair Cathy McMorris Rodgers. The anchors pressed Rep. Rodgers about a recent Pew Research/Washington Post poll that, in their words, indicates "the public is going to blame Republicans"…

In his State of the Union address, President Barack Obama proposed raising the minimum wage from $7.25 an hour to $9 an hour. That would be almost a 25 percent increase. Let's look at the president's proposal, but before doing so, let's ask some other economic questions. Are people responsive to changes in price? For example, if the price of cars rose by 25 percent, would people purchase as…

Doing the kind of reporting the establishment press would be doing if it were something other than the collection of presidential supplicants it has become, an Investor's Business Daily editorial Monday evening completely refuted outgoing Transportation Secretary Ray LaHood's claim that a $600 million "cut" (really "a reduction in projected spending") would hurt the Federal Aviation…

Al Sharpton joined the sequester scare-mongering squad on his MSNBC show this evening.  Just one problem: the Reverend Al got one of his "facts" embarrassingly wrong. Sharpton claimed that the effect of the sequester would be to close Rep. Paul Ryan's hometown airport in Janesville, Wisconsin.  Nuh-uh.  Yes, Southern Wisconsin Regional in Janesville is on a list of 200 airports, 100 of which…

Faux conservative David Brooks of the New York Times used his Friday appearance with Mark Shields on the PBS NewsHour to bash Republicans over sequestration, comparing GOP tactics in dealing with spending to a trite circus act.  Either Mr. Brooks forgot that sequestration was the president’s idea or doesn't care about facts getting in the way of cozying up to his liberal media buddies.  Even…

ABC on Sunday continued to hype Barack Obama's hyperbolic claims about sequester cuts. World News reporter David Kerley played a clip of the President and then insisted that $85 billion in spending "sounds like a disaster movie." Kerley warned, "Child care canceled for tens of thousands of kids. Long airport security lines. Flight delays with a shortage of controllers. And military cuts that…

Charlie Rose led Monday's CBS This Morning by hyping the allegedly catastrophic effect of the sequester during a promo for a report from correspondent Major Garrett: "Kids without vaccines; schools without teachers; and massive airport delays – we'll show you the worst-case scenario for government spending cuts." Garrett himself could have been mistaken for an Obama administration flack as…

"For those scraping by on minimum wage, an increase sounds good." That was the Einstein-brilliant headline for the February 25 Metro section article by Washington Post staff writer Michael Laris, which looked at how a "Young Pr[ince] George's [County] father finds little money left to advance dreams." Laris's 44-paragraph story began with the plight of 24-year-old father Tyrrell Brown, who "…

An Investor's Business Daily editorial on Friday confirmed a couple of items which seemed intuitively obvious but which I didn't prove on Thursday in my post (at NewsBusters; at BizzyBlog) about the Department of Labor's outrageous decision to grant unionized workers at now-liquidating Hostess Bakeries "Trade Adjustment Assistance" (TAA). The first is that it will cost a lot of money,…

At the end of 1995 and stretching into January 1996, the federal government "shut down" because of an impasse between President Bill Clinton and House Republicans led by then-House Speaker Newt Gingrich. The issue was increased taxes vs. less spending. Sound familiar? The government re-opened when a bipartisan agreement was reached to balance the budget by 2003. It wasn't for reasons that…

You've got to hand it to the headline writers at the Associated Press, aka the Administration's Press. They sure know how to abuse their power to shape public perceptions. The headline at Martin Crutsinger's report this morning on projected economic growth for 2013, which the wire service is treating as this morning's "Big Story," reads: "ECONOMISTS PREDICTING MODERATE GROWTH IN 2013." Many…

Call her MoveOn.Mika . . . Bob Woodward has demonstrated that President Obama was not telling the truth during the third presidential debate when he flatly stated that "the sequester is not something that I've proposed. It is something that Congress has proposed.” In fact, it was two Obama aides who devised the plan, and Obama himself who approved it. But when Joe Scarborough wanted to get…

CNBC's Maria Bartiromo made a statement Sunday about all of the fearmongering concerning the looming budget sequester that people on both sides of the aisle should pay attention to. Appearing on NBC's Meet the Press, Bartiromo said, "I think Wall Street is seeing this as scare tactics because if the market really believed that the economy was going to be paralyzed on March 1 we would not be…

As NewsBusters has been reporting this weekend, some media members have been surprisingly breaking ranks with President Obama concerning administration claims that the world will come to an end if budget sequestration goes ahead this coming Friday. NBC's David Gregory also appears to be feeling the White House's position is overblown and asked Transportation Secretary Ray LaHood on Sunday's…