Economy

As President Obama travels to Michigan to visit General Motors and Chrysler assembly lines, the media assembly line continues mass-producing bias.On July 30, both ABC and CBS ran stories on their websites promoting President Obama's trip to Michigan to "let you know the Detroit Big Three are in the black again." Both networks' stories claimed the "unpopular auto industry bailout has turned into…

CNBC.com's Jeff Cox needs to brush up on his financial history. He believes that George W. Bush's 2001 and 2003 tax cuts affected only the highest-earning taxpayers, i.e., those who gross $250,000 a year of more. He's wrong. Here's part of what Cox posted this morning (erroneous statement is bolded; HT to Mark Levin in his Thursday broadcast): Letting Bush Tax Cuts Die Would Kill Recovery:…

On June 24, 2010, I had a post on BigHollywood that examined Robert Redford’s asinine statements about the Gulf Oil Spill. From his support of a drilling moratorium to the fact that he literally blamed the spill on Dick Cheney to the way he expected George W. Bush to respond instantly to Katrina, while making excuses for President Obama’s slow response to the BP disaster, his words were…

Free enterprise and the American marketplace – not the guiding hand of government – have revitalized the beleaguered automaker General Motors, which expects to announce another profitable quarter, according to GM officials.  President Barack Obama plans to visit a GM plant in Hamtramk, Michigan on July 30, and his administration is linking GM’s return to profitability with the bailout of the…

Gold has been a highly valued commodity going at least as far back as the ancient Egyptian culture in 2600 BC. But now, with economic instability and uncertainty over the health of major global currencies, the demand for gold has risen as a store of value and a hedge against inflation. Over the past 12 months, the price of gold has gone up dramatically - up 25 percent from July 2009 (from $929…

If only women ruled the world . . . Striking a blow for her sex, Mika Brzezinski today claimed that the Wall Street meltdown "simply would not have happened" if more women had been in charge. The Morning Joe co-host was reacting to news that the Dems managed to slip into the recently enacted financial regulation bill a provision--authored by Rep. Maxine Waters--that would create "at least 20 new…

If a congressional Democrat blocks economic relief efforts, and no one bothers to report it, does it really happen? The editors at CNNMoney.com are apparently on a quest to find the answer. After weeks of pounding Republicans for stalling unemployment benefits in the Senate, the site is suddenly disinterested in doing the same to Democrats. The political battle du jour? Republicans and moderate…

Thanks to Shirley Sherrod, Andrew Breitbart, and the NAACP, political journalists have supposedly discovered the importance of "context" (though they strangely seem to lost interest once fuller context items like this and this became known). It would be helpful if such an interest in full context would legitimately and consistently spread to business reporting. Full context would include looking…

Chris Matthews on Monday got a much-needed lesson from Rep. Paul Ryan (R-Wisc.) on how tax hikes impact the budget as well as the economy."Congressman Ryan, is there any tax role for reducing our $1.4 trillion to $1.7 trillion debt this year -- deficit this year?" Matthews asked during the 5PM installment of MSNBC's "Hardball." "Is there any role in tax increasing to help do that job?"When Ryan…

Newsbusters reported earlier on the double standard of MSNBC anchor Contessa Brewer on reporters appearing at fundraisers. During the same news hour, Brewer simply couldn't understand the Republican position on extending the Bush tax cuts for all taxpayers, and jokingly wondered if the Republicans are even human."What I don't get is a lot of the people who are shouting about letting these tax…

ABC's "World News" on Sunday caught up to CBS and NBC in fretting about the potential problems caused by illegal immigrants who may be leaving Arizona before the state's new law takes effect on Thursday. Correspondent Barbara Pinto devoted her entire piece to lamenting the possible damage to small businesses whose customers are presumably now leaving the state, but offered less than a sentence to…

Here's the White House's latest deficit projection, as illustrated at the Corner (HT Instapundit): As explained in two previous NB posts (here and here), FY 2010 is worse than it appears by about $115 billion.This is why, as explained previously:

Good Morning America's Elisabeth Leamy used an exclusive interview with Barack Obama on Friday to toss mostly softball questions, such as wondering, "I want to ask you, what are you and the First Lady teaching your daughters about money?" [MP3 audio here]After the President suggested that his children could earn some money on the side, Leamy gushed, "I've got a job for them babysitting." The…

Apparently not grasping the public's growing unease with Barack Obama's big government/big debt approach to the economy, MSNBC's Contessa Brewer on Thursday touted as admirable how the President and Democrats in Congress have "passed job extension benefits again and again. They passed a big health care reform bill that's gonna lower health care costs." Highlighting the passage of the Democratic…