Economy

MSNBC's Chris Matthews and Pat Buchanan got into quite a heated debate on Monday's "Hardball." At issue was the battle of the debt ceiling with Matthews calling Tea Partiers opposed to raising it "crazy protesters" and telling his guest, "You want to join" them (video follows with transcript and commentary):

Green Vehicles is no more. The world will somehow have to get by without the lovely vehicle pictured after the jump populating our streets and highways. Given that its owner put an "I've giving it up" blog post last Tuesday, and even though Drudge just caught it a few hours ago, it's pretty safe to assume that the Green Vehicles debacle won't be a national establishment press story. It is,…

On his Saturday show Your Money, CNN host Ali Velshi tried to pin the blame for the debt ceiling standoff on one man – the president of Americans for Tax Reform, Grover Norquist. "Are you the reason that we don't have a debt ceiling increase right now?" he boldly asked his guest. Velshi was referring to Norquist's pledge that entails elected officials who sign it promising to oppose…

According to Chris Matthews, conservative House Republicans who are holding steadfast on resisting a debt ceiling deal that includes tax hikes are like the apocryphal bovine of doom behind the 1871 fire that destroyed much of Chicago (video follows page break):

While the Republican-controlled House of Representatives has voted this year to approve House Budget Chairman Paul Ryan's (R.-Wis.) proposal--that would put the government on a gradual path to a surplus by 2040--and plans to vote on a balanced budget amendment next week that would cap federal spending at 18 percent of GDP, the only budget proposal President Obama's has publicly revealed in 2011…

President Barack Obama says America does not need a balanced budget amendment to the Constitution, and he once again blamed much of the fiscal problem on Bush-era tax cuts. “We don’t need a constitutional amendment to do our jobs,” Obama told reporters at his Friday news conference. “The Constitution already tells us to do our jobs -- and to make sure that the government is living within its…

David Frum is bashing conservative Republicans again – this time for playing hardball with President Obama and using the debt ceiling deadline as blackmail to get what they want. Frum writes in a CNN.com op-ed that the GOP demand for "total surrender" by the president on the debt ceiling debate gives him "horrible flashbacks" to the party's staunch opposition to the health care bill – which…

In the midst of staggering illogic surrounding our debt ceiling, ratings agency Moody's just raised the bar. On Monday, it announced that the United States could increase its creditworthiness by - wait for it - eliminating the debt ceiling altogether:

In an unbylined update of the latest developments in the budget-tax-spending-debt ceiling discussions in Washington this morning, the Associated Press committed several blunders in attempting to explain what's going on and how we got to where we are. First and foremost was its list identifying "contributors" to the $8.5 trillion growth in the national debt since 2001. Here's the AP's you-can'…

Cokie Roberts got quite a lesson Sunday on why compromise can be a dirty word in politics. When she asked Congressman Raul Labrador (R-Idaho) why compromise isn't a "message that you hear," the Tea Partier responded, "Why is it that compromise always means increasing taxes today and doing cuts in ten years from now?" (video follows with transcript and commentary):

Per Reuters blogger James Pethokoukis, Goldman Sachs, demonstrating Democratic-friendly timing similar to that seen at the New York Times a month or so ago, published an extraordinarily gloomy economic forecast last night. Here are some of the details he quotes: "Following another week of weak economic data, we have cut our estimates for real GDP growth in the second and third quarter of…

Charles Krauthammer on Friday marvelously demonstrated just how in the pockets of Barack Obama America's news media are. After claiming on PBS's "Inside Washington" that we now have a "completely compliant, pliant, supine press accepting every leak out of the White House," he silenced the entire panel by asking them to name one specific cut to entitlements the President has proposed (video…

Kicking off the NBC4 11 o'clock news last night, veteran Washington, D.C. anchor Jim Vance touted an exclusive interview he had earlier that day with President Barack Obama. Vance then aired an excerpt of the interview, comprised of two softball questions. Afterwards, he informed viewers they could find the full interview at the station's website, nbcwashington.com. Unfortunately, the rest…

I've been trying to resist taking satisfaction in David Cay Johnston's utter humiliation on his first assignment at Reuters. Y'know, there but for the grace of God, etc. I do wish him well, though I question whether the feeling is mutual. More important, I hope he recognizes the need to go into journalistic rehab. My guess is that he doesn't. The former New York Times journalist/reporter (…