Economy

If future historians look back on the ruins of the American economy after a U.S. bond crisis struck in the second decade of the 21st century, many causes will be noted. Obviously, it will be seen that for decades before the catastrophe, the U.S. was spending vastly more than it could afford on government health and retirement programs. And, just as after the Great Depression, Pearl Harbor and…

For the second night in a row Tuesday, MSNBC's Ed Schultz called Republicans liars. Also for the second night in a row, he did so moments before lying himself (video follows with transcript and commentary):

On Monday, the New York Times assembled a panel of alleged experts in its Room For Debate section. Each weighed in on Monday's ratings agency outlook downgrade by Standard and Poor's in an item entitled "Is Anyone Listening to the S.&P.?" (Don't ask me why "the" is there. It shouldn't be; the item is about the firm Standard and Poor's, not "the" Standard and Poor's stock index.) One of…

The Associated Press's Derek Kravitz seems to have a difficult time quoting government statistics without rewording them. This is a far from harmless habit. Tuesday, Kravitz the Creative reported on the Census Bureau's information release on March homebuilding industry activity. His first two paragraphs and the story's headline (y'know, the parts that are more likely to be read over the…

I am beginning to wonder whether President Obama is so cocky about his 2012 re-election prospects that he thinks he doesn't even have to be serious in his budget plan offerings. Unfortunately, the nation's unfunded liabilities aren't so casual as the president; they are growing by more than $10 trillion per year, which means that our looming debt crisis becomes far more problematic with each…

“I’m not biased,” CNN host and ex-Democratic politician Eliot Spitzer told NewsBusters publisher Brent Bozell on In the Arena Monday night. Bozell was on CNN to talk about the budget fight and his 800,000 member grassroots political organization, ForAmerica, but Spitzer first wanted to ask about various NewsBusters items documenting his liberal approach, particularly about the recent budget…

As NewsBusters has been reporting, America's media have been on a full-court press to raise taxes ever since Barack Obama proposed this in his deficit reduction speech last Wednesday. So supportive of soaking the rich is MSNBC's Ed Schultz that on Monday's program bearing his name, seconds after claiming "Republicans are forced I guess you could say to make stuff up," he lied about what…

As night follows day, the press is beginning to go after a business entity which had the nerve to do its job and call attention to Uncle Sam's dire fiscal situation. Standard and Poor's is presumably not 100% populated with angels, but it didn't deserve the gratuitous and ignorant shots fired at it this evening by the Associated Press's Bernard Condon and an "expert" he quoted. In attempting…

Credit ratings agency Standand & Poor's Monday placed a negative outlook on the future of America's AAA debt rating as a result of looming budget deficits as far as the eye can see. Later in the day, syndicated columnist Charles Krauthammer of Fox News's "Special Report" said this move by S&P was actually a negative review of President Obama's deficit reduction speech last Wednesday (…

In my book "Crimes Against Liberty," I described President Obama as dishonest, hyper-partisan, a bully, a narcissist and a hard-core left-wing ideologue. Anyone who thinks my description is exaggerated or too harsh didn't hear his Wednesday speech on the budget. One might have expected that a newly elected president who had "inherited" such a disturbingly high deficit, a growing national debt…

Days before his 2012 budget was released, Congressman Paul Ryan (R-Wisc.) predicted that he and it would be demagogued by the Left. Doing its part is the New York Times which began its editorial Monday, "Six months after voters sent Republicans in large numbers to Congress and many statehouses, it is possible to see the full landscape of destruction that their policies would cause — much of…

Whoever is compiling a list of what journalists really believe when they put forth certain vague but commonly used phrases (e.g., using "some people believe" instead of truthfully saying "in my opinion") should consider adding the following: "small but vocal group" really means "a tiny bunch of people I agree with." That's my assessment as I look at two uses of the term this past weekend,…

As NewsBusters has been reporting, the media have been on a full-court press in recent days supporting the President's push to raise taxes. Doing his part was NBC's David Gregory who trotted out the words of former Vice President Walter Mondale on Sunday's "Meet the Press" to really drive home the point, and then got a huge assist from former Federal Reserve Chairman Alan Greenspan (video…

The Associated Press's Ben Feller interviewed President Obama on Friday. In the transcript, Feller interrupts Obama's long-winded response to his previous softball question ("Are the Republican leaders lacking compassion and they're pessimistic?") by beginning another question, which is shown as having been stopped before completion: Q. You said they might lead us to third world - It's…