Economy

MSNBC's Martin Bashir, who once argued Sarah Palin's bus tour was in "breach of federal law," attacked Sen. Mitch McConnell (R-Ky.) on Wednesday, wondering if the 69-year-old Republican is "suffering some kind of mild dementia or long-term memory loss?" Excoriating McConnell for rejecting tax increases as part of a potential budget deal, the former ABC "Nightline" anchor regurgitated a litany…

For the second night in a row, Anderson Cooper opened his regular news cast Tuesday touting a story about Michele Bachmann's hypocrisy in benefitting from federal agriculture subsidies. Although his own network, which interviewed Bachmann Tuesday morning, did not report on the matter during that day, Cooper thought it important enough to put the issue as the lead story for the second straight…

One might be an accident. Two indicates a bit of a trend. Yesterday (at NewsBusters; at BizzyBlog), I noted that an early dispatch from Bloomberg on a disappointing consumer confidence report opened by telling readers that "Consumer confidence unexpectedly fell in June to a seven-month low ..." A later version purged the dreaded U-word ("unexpectedly"), opening with "Consumer confidence…

The United States is in debt up to its eyeballs - or more realistically the Statue of Liberty's eyeballs. On May 16, America hit the debt ceiling. which is slightly less than $14.3 trillion. That works out to about $46,000 for every man, woman and child in the nation. Despite those staggering numbers, the broadcast networks have relegated their coverage primarily to the politics involved,…

 On ABC’s World News on Sunday, a report by correspondent Jim Avila highlighted the complaints of left-wing mayors who expressed wishes that more defense spending would be redirected at projects in their cities. The NBC correspondent speculated about what other items could be paid for using the money used by the Pentagon in Afghanistan and Iraq, and concluded the report seeming to suggest…

Chris Matthews Tuesday once again showed that his tenuous grasp of reality is getting dangerously weak. During the final segment of "Hardball," the host unequivocally blamed the 2007 financial crisis and resulting recession on George W. Bush just moments before he said, "Okay, Obama hasn't been able to get us out of it yet, but...there’s no sense blaming one Party or the other" (video follows…

While the vast majority of those in the establishment press doggedly insist on reporting seasonally adjusted numbers in most economic spheres, there is an odd exception: Standard & Poor's Case-Shiller Home Price Indices. Not that it's completely the press's fault. S&P emphasizes the raw numbers over the seasonally adjusted ones, and for a pretty good reason: The raw numbers represent…

It looks like someone in the establishment business press might be getting a little touchy about the razzing they continually receive for delivering "unexpectedly" bad economic news. As captured by Glenn Reynolds at Instapundit and corroborated in this Google News description, Bloomberg's 10:16 a.m. report on consumer sentiment told readers that "Consumer confidence unexpectedly fell in June…

My first reaction to this was, "Well, if this became a common practice, at least we'd hear the word 'unexpectedly' a lot less often." Over at Mediaite on Friday (some R-rated content is at link; HT Doug Powers at Michelle Malkin's place), Josh Feldman ripped CNN business reporter Felicia Taylor, whose background includes stints at the Financial News Network, CNBC, for devoting nearly three…

Something astonishing happened in New Jersey last week. A majority Democratic legislature and a Republican governor agreed on a measure that will cut benefits for the state's 750,000 employees and retirees. Like Wisconsin and other states that are being forced to deal with large budget deficits caused mostly by sweetheart deals struck in more prosperous times between politicians who need…

I'll make you a deal: I'll quit accusing Democrats of obstructing spending and entitlement reform when they quit obstructing spending and entitlement reform. Now we even have the nonpartisan, sterile, unflappable Congressional Budget Office virtually predicting a "fiscal crisis," yet the Democratic Senate hasn't passed a budget for 785 days. There ought to be a law.

Susan Haigh's report Friday evening on the current status of budget negotiations between Connecticut Governor Dannel Malloy and the state's public-sector unions contains two glaring errors which mar the entire enterprise. Haigh conveniently withheld the fact that the Nutmeg State's legislature has already approved $2.6 billion in new taxes over two years until her report's final paragraph,…

Washington Post staffer Hank Stuever started off with a fair point in his review of the new HBO documentary "Hot Coffee." But before his June 27 Style section front-pager was concluded, the Post TV critic was bashing conservatives and free marketeers for advocating tort reform.

I can't say that I'm up on what every state is doing, but it's hard not to notice contrasts between two trios of states singing decidedly different tunes: Wisconsin, Ohio and New Jersey, three states with recently elected conservative Republican governors, have either put their budgets to bed, or are on the verge of doing so, by cutting costs and not raising taxes. Connecticut,…