Economy

Sigh. Here we go again. First it was our capitalist society deemed gone as Newsweek magazine declared, "We're socialists now." This time - it's the death of supply-side economics, according to Newsweek Senior Editor Daniel Gross. To sum it up, Gross declared tax cuts obsolete, a theory that only works on paper, in a time when employers come and go and institutions aren't stable like they once…

On Thursday’s CBS Evening News, anchor Katie Couric introduced a report on the Democrats’ so-called "stimulus" plan about to pass Congress: "And we'll tell you what's in it for you, including tax breaks...It's designed, in part, to get you spending again by giving you the money to do it." However, in July of 2001, when President Bush was trying to get tax cut legislation passed, then Evening News…

Despite the election of President Obama, Bill Maher is still not happy with his native land, due to the lack of belief in evolution. He voiced his disapproval on Thursday evening’s Larry King Live: “I read the other day, I think only four in 10 Americans believe in evolution. It’s still not a very bright country, Larry.” He later compared Sarah Palin to former American Idol contestant Sanjaya…

Everything is wonderful and peachy-keen in Obamaland if you rely on the reporting on the front page of The New York Times. Just ask CNBC's Jim Cramer. On his Feb. 12 program the "Mad Money" host dealt with the $789 billion stimulus package. "Now if you were to believe what's in the papers, holy cow - except for the funny papers - you would think this package was wonderful," Cramer said he said…

If you needed an alarm to go off signaling President Obama's honeymoon with the press being over, you got it Thursday when former CBS "Evening News" anchor Dan Rather severely chastised the new administration for not doing enough to solve today's economic problems.Writing for the Daily Beast, the man who once used a forged document in an attempt to bring down former President George W. Bush…

A prominent Democrat made news on MSNBC Feb. 11 with his guarantee of new financial industry regulations "comparable" to FDR's New Deal. House Financial Services Committee Chairman Rep. Barney Frank, D-Mass., appeared on MSNBC's "Rachel Maddow Show" Feb. 11 and told the MSNBC and Air America host that things should be done to limit what financial services can do, specifically when it comes to…

On Thursday's "Good Morning America," co-host Robin Roberts and reporter Claire Shipman eagerly touted a theory, recently highlighted by a liberal New York Times columnist, that the problems on Wall Street could have been avoided if women were in charge. As video of bank executives who testified Wednesday in front of Congress appeared onscreen, Roberts mused, "As we saw, the nation's top bankers…

Many folks realize that the Obama stimulus plan is little more than a list of long-held liberal dreams tossed together in hopes a scared American public will demand its immediate approval.  Over at CNN, they've bought into the politics of fear and are openly cheering for the bill making its way through Congress.  On yesterday's CNN Newsroom anchor Tony Harris spoke with CNN senior congressional…

How could anyone take a principled stand against the $789 billion economic stimulus bill? Any opposition to this massive expansion of the federal government must be sheer political posturing. Or so said Newsweek magazine's Jonathan Alter. Alter said on MSNBC's Feb. 11 "Countdown with Keith Olbermann" that congressional Republicans oppose the stimulus bill based on an ill-conceived, low-…

While most people might be offended by Rep. Barney Frank (D-Mass.) saying bonuses are like bribes, House Speaker Nancy Pelosi (D-Cali.) was so enamored with such talk that she actually posted a video of the Massachusetts Congressman's disgusting remarks at YouTube.As NewsBusters previously reported, during Wednesday's House Financial Services Committee hearing, Frank chastised the CEOs in…

Katie Couric teased Wednesday's CBS Evening News by excitingly trumpeting: “Tonight, they've got a deal! Congress reaches agreement on an economic stimulus plan.” She soon shared her enthusiasm in a taped interview with a triumphant House Speaker Nancy Pelosi as Couric giggled along with Pelosi while asking if she was “surprised how intimately involved” President Obama “is in the whole process?”…

Lost in the overall cratering in the stock market yesterday in reaction to Tim Geithner's awful "soiled the bed" TARP II presentation yesterday -- New York Times Company stock closed at $4.23. As of 3:30 PM today, the stock was up 12 cents. Yesterday's close is the stock's lowest point since the company went public in July 1986 (down over 50% in real terms): At yesterday's close, the company was…

Despite his tax problems, President Barack Obama's newly minted Treasury secretary, Tim Geithner, was sold to Congress as the one who was going to save the fragile financial system. However, in what was billed to be a big announcement, and Geithner's first major appearance, he failed to deliver. The Treasury Secretary was slated to outline his plan to rescue troubled financial institutions from…