Economy

The Associated Press can't even get it right in a three-paragraph item about a White House ceremonial event.In a story Monday afternoon about President Bush's meeting with two Nobel Prize-winning scientists and Nobel Economics winner Paul Krugman, the unbylined AP writer claimed that Krugman opposed the government's financial bailout. Evidence abounds that this is not only not the case, but that…

On Monday’s CBS Evening News, correspondent Dean Reynolds reported on Barack Obama's announcement of an economic team, but instead of getting reaction from Republicans or financial experts, Reynolds decided to stick with the president-elect himself: "Timothy Geithner, president of the New York Federal Reserve Bank, as Treasury secretary. Obama said Geithner has an 'unparalleled understanding of…

Are the good folks at the New York Times breaking ranks and actually criticizing a decision by president-elect Barack Obama?Such seemed to be the case Tuesday when the Gray Lady published, on the front page of the business section no less, an article highly critical of proposed Treasury Secretary Timothy Geithner.Entitled "Where Was Geithner in Turmoil?", Andrew Ross Sorkin's piece actually…

Paul Krugman has been making the rounds of the network morning shows, urging the government to "go big" in spending to revive the economy.  His only concern is that Obama might not be planning to spend enough.  Heck, even FDR wasn't a big enough spender in his book.  View Krugman's weekend GMA appearance in which he says that here, the episode in which, as discussed here, Krugman of all people…

President and Mrs. Bush couldn't be handling the transition more graciously.  But rather than celebrating the peaceful transfer of power that is the hallmark of our democracy, Hardball has announced a new feature, "Final Daze," intended to mock W as we count down his last weeks in office.Mike Barnicle, sitting in for Chris Matthews, announced the new segment on this evening's show.MIKE BARNICLE:…

Update 11-25 8:20 AM: Morning Joe Makes SNL References -- see discussion at foot.Call it "The Wild 'n Crazy Guy–Billionaire Style."  Maria Bartiromo's interview of Saudi Prince Alwaleed, the largest shareholder of Citigroup, is literally a Saturday Night Live skit waiting—begging—to happen.CNBC's Bartiromo conducted the interview by remote this afternoon. When the camera went to the prince in…

On Monday’s CBS Early Show, co-host Maggie Rodriguez asked liberal economist and New York Times columnist Paul Krugman about Barack Obama’s proposed stimulus package: "What about the $500 billion economic stimulus plan that President-elect Obama is planning? Do you think it's realistic to get that done in two years?" Not only was Krugman in favor of the plan, but he argued: "I'm actually worried…

During the presidential campaign, we constantly heard from Team Obama and the media (excuse the redundancy) was how Republican-inspired deregulation had let evil bankers and capitalists run roughshod over the economy and created the current credit mess.Well, a lot of the deregulation was GOP-inspired, but that isn't what caused the situation that I like to refer to as The Great SUCKUP (The…

Transcript from press conference of Pres. Barack Obama, Feb. 12th, 2011: CNSNEWS.COM: Mr. President, when you first took office you promised to create 2.5 million jobs by January, 2011.  But the Labor Department report issued yesterday indicates that in fact 1.7 million jobs were lost during that period.  Why did your plan fail?PRES. BARACK OBAMA: Ah, but it didn't fail. To the contrary, we…

Neil Cavuto and Ben Stein had quite an argument about bailouts on FNC's "Cavuto on Business" Saturday morning that nicely covered the issues people on both sides of this contentious debate will likely be discussing around dinner tables this Thanksgiving, though hopefully with less screaming:

Though given a perfect opportunity to do so, Tom Brokaw on Sunday chose not to discuss the similarities between Franklin D. Roosevelt's refusal to work with President Herbert Hoover on solving the Depression before he was inaugurated in March 1933 and president-elect Barack Obama doing the same thing today with George W. Bush. For those not familiar with the historical reference, the financial…

In an MSM eager for the advent of the Age of Obama, Kate Snow may have taken the cake.  The weekend GMA co-host almost sounded as if she were calling for some kind of coup d'etat, musing whether Obama should be urgently "forcing" change before he takes office. How over the top was Snow?  She had to be talked down from her fin de regime fantasy but none other than . . . Paul Krugman.ABC reporter…

Fox Business Network anchor Alexis Glick is frustrated by the way the government's $700 billion financial bailout is being used, and suggested on "Money for Breakfast" Nov. 21 that it was contributing to market declines. "I mean, look, we are now at levels at least on the S&P that we haven't been since 1997. You know, people are pretty unhappy with how the TARP fund is going," Glick said…

Practically rubbing his hands in glee, Time magazine's Joe Klein exulted yesterday over Michigan Rep. John Dingell (D) losing out to the more liberal Rep. Henry Waxman (D-Calif.) for control of the powerful House Energy and Commerce Committee.Apparently Klein is happy that under Waxman the committee will succeed in decreasing both domestic energy and commerce with fresh, strict regulations on…