Economy

Lawrence O'Donnell on Tuesday surprisingly exposed how ignorant liberals are of the tax code. In a sometimes heated discussion with prominent progressives about President Obama's new compromise tax plan, "The Last Word" host aggressively challenged the knowledge of two of his guests (video follows with transcript and commentary):

MSNBC's Joe Scarborough slammed President Obama Tuesday for not standing up to Republicans but rather compromising over extending the Bush tax cuts. Scarborough called the tax cuts for millionaires "inefficient" and agreed with co-host Mika Brzezinski that the Republicans are "complete hypocrites" when it comes to dealing with the deficit. The deal includes an extension of the Bush tax…

There are many areas where the establishment press's terminology preferences are significantly out of sync with everyday usage by the general public. To name just two examples, the ever so PC press routinely replaces publicly favored and more informative terms such as "illegal immigrants" and "Muslim terrorists" with "undocumented workers" and "militants." And of course, we can't forget the…

MSNBC's Chuck Todd on the December 7 "Daily Rundown" was uncharacteristically heated in his opposition to the compromise between President Barack Obama and congressional Republicans on extending the Bush tax rates. Interviewing a Treasury Department official, Todd used flawed statistics to malign the proposed two-year extension of tax breaks for all families as unacceptably expensive. "…

A few weeks ago, just before GM's initial public offering went to the market (at the Washington Examiner; at BizzyBlog), I noted that Multi-Government/General Motors had spent the past several months shipping more cars than its dealers were selling, to the point where dealer stocks represented an unusually high number of days of dealers' sales. GM's December 1 press release made that trend…

Good Morning America's Jake Tapper on Tuesday spun Barack Obama's reaction to a tax deal with Republicans this way: "The devil made him do it..." The devil, apparently, being GOP representatives. Picking an easy target as an example, Tapper asserted that, as a result of tax rates staying the same, the "family of the average Wall Street banker [who] paid more than $300,000 last year, will keep…

The Washington Post's Robert J. Samuelson in his Monday column scolded President Obama's deficit commission in a fashion that should be must-reading for every American, especially liberal media members. At issue for Samuelson wasn't the cost-saving or revenue-generating ideas in the plan. Instead, he accurately pointed out that it lacked a coherent message as to why our social programs are…

Charles Krauthammer on Monday said that when Barack Obama spoke to the nation hours ago to announce a tax extension compromise just reached with Republicans, "It was actually a speech addressed at Daily Kos, the New York Times, and MoveOn." In Krauthammer's view expressed on Fox's "Special Report," "This was a speech aimed at appeasing the Left which is extremely angry over this" (video…

World News anchors and reporters on Sunday chided Barack Obama from the left, complaining that he was "caving" and "breaking one of his biggest campaign promises" by preventing tax rates from increasing in January. ABC's Washington editor Rick Klein worried, "President Obama has been clear this was a critical position and he is caving on it, in, in allowing all the tax cuts to be extended."…

At the Associated Press late Sunday afternoon, reporter Paul Wiseman, who may have the most inappropriate last name in the history of business journalism, engaged in a brazen "It's really not that bad" excuse-making exercise on behalf of the economy Barack Obama, Nancy Pelosi, Harry Reid, and Ben Bernanke have created. In the process, he joined a Reuters reporter in questioning the validity of…

 During a discussion of the agreement to prevent tax rates from increasing in January, on ABC’s World News Sunday, anchor David Muir and ABC’s senior Washington correspondent Rick Klein fretted that the federal budget deficit would increase - against the wishes of the voters - as a result of both the blocking of a tax increase and the extension of unemployment benefits. But neither acknowledged…

I do hope that Associated Press reporters Arthur Max and Charles J. Hanley are finding some recreational time while they are reporting from Cancun about what's happening at the "United Nations Framework Convention on Climate Change." The pair's bosses ought to be asking them how much real attention they are paying to the festivities since they began. For example, as far as I can tell from two…

The unemployment rate jumped to a seasonally adjusted 9.8% in November and only 39,000 seasonally adjusted jobs were added during the month, according to the Employment Situation Report released yesterday by Uncle Sam's Bureau of Labor Statistics. Although she at least recognized the report's negativity, Lucia Mutikani at Reuters seemed bent on downplaying its impact, even finding an "expert…

Shortly after the Labor Department announced a very disappointing jump in the unemployment rate to 9.8 percent, Google News featured as its top story an Associated Press article published Thursday predicting "the tight job market may be easing at last." Here's a screen cap of Google News from about an hour ago: