Economy

"The View" co-hosts, who seemingly have difficulty understanding the Constitution, have demonstrated their lack of understanding in economics. Recapping Friday’s presidential debate on the September 29 edition of "The View," co-host Sherri Shepherd wondered how we can raise taxes. Whoopi Goldberg replied "it’s not going to happen. We are in too much financial trouble. We can’t."A very brief…

Like an MSM version of Nancy Pelosi, whose hyper-partisan floor speech reportedly angered many GOP members, Chris Matthews wasted no time in trying to pin the blame for the defeat of the bailout plan on John McCain.  Appearing during MSNBC's 2 PM hour, the key to Matthews' argument was his assertion that Dems "overwhelmingly" supported the measure, whereas McCain failed to rally a sufficient…

As I write this on Monday afternoon, the People's House has rejected "the $700 billion bailout." You won't believe, unless you're a very experienced cynic, where that $700 billion figure came from. The answer appears to be "out of nowhere." With no basis. I'm not kidding. Here's the evidence, carried six whole days ago at Forbes (HT LAT's Top of the Ticket Blog via BizzyBlog commenter Dan Scott…

CNN’s Web site this morning tracked a developing story involving the stock market opening, by featuring a photo of an Iran anti-war protest. The photo, provided by our friends at the AP, was simply too perfect to pass up apparently. After all, any photo which includes a man brandishing a banner which reads ‘Jail Bush,’ is something that a biased news organization simply has to take.…

How disappointed was Chris Matthews with Barack Obama's debate performance tonight? How angry was Matthews at Obama for agreeing so much with John McCain?  Enough that Matthews unleashed the ultimate Dem insult, saying Obama reminded him of . . . Richard Nixon.Matthews first vented his frustration at Obama adviser Linda Douglass.CHRIS MATTHEWS: Linda, my friend, why did your candidate agree so…

With less than 40 days until the election and the U.S. going to hell in a handbasket, America needs Howard Fineman now more than ever. That according to, well, Howard Fineman. Here's how he opened his first entry in his new Newsweek blog, "Race to the Finish.":Is it just me or does everything seem to be broken?Our credit markets are scared of their own shadows. Our political system looks…

On Friday’s CBS Early Show, correspondent Chip Reid reported on congressional efforts to negotiate a bailout plan for the financial industry and took the Democratic line that Republicans prevented an deal from being reached: "At one point, yesterday, it looked like the $700 billion bailout deal was ready to have the 'I's dotted and the 'T's crossed, but that's when the wild roller coaster ride…

Bush told the country that we are in an economic crisis and his Treasury Secretary, Henry Paulson, came up with an idea that would, it is claimed, end up actually making money for the U.S. Treasury in the long run. That's all well and good, but the Democrats already have a plan to siphon off any repayment of the people's money back to the treasury by adding one little line to the agreement that…

This post updates primary work done by the Chicago Sun-Times in July (accompanying video is here), this September 7 post at NewsBusters, and two related posts (here and here) at BizzyBlog. Graphics are mostly courtesy of NewsBusters commenter "tnculp." Hat tips go to all who tipped me to the news. In a Thursday story by Chris Fusco and Dave McKinney that has been linked by Drudge, the Chicago Sun…

What is it with Democrats and their grotesque slurs upon the intelligence of their political rivals?  Last week it was Charles Rangel calling Sarah Palin "disabled."  Tonight on CNN, Paul Begala called President Bush "a high-functioning moron."Begala was on an Anderson Cooper-led panel with Republican Ed Rollins and CNN's Gloria Borger to discuss the state of the possible federal financial…

The two mortgage giants Freddie Mac and Fannie Mae — seized by the government September 7 before they went completely bankrupt, at a potential cost to taxpayers of more than $25 billion — have been in obvious trouble for much of the past five years — with criminal investigations, accounting scandals, firings, resignations, huge losses and warnings from the Federal Reserve that their huge…

Networks have given more coverage this year to the 6-year-old collapse of Enron than the role of federal government-sponsored mortgage lenders Fannie Mae and Freddie Mac in the present financial crisis, Media Research Center President Brent Bozell noted in a September 25 interview with the hosts of Fox News Channel's "Fox & Friends." The NewsBusters publisher argued that the media's lack of…

So much for a "stunt."John McCain got involved in the bailout negotiations after Treasury Secretary Henry Paulson told Sen. Lindsey Graham yesterday that the bailout plan would fail unless McCain came in and brought balky Republicans aboard.  That's what Bob Schieffer reported on this morning's Early Show.  Schieffer's account stands in stark contrast with the allegation by Dems like Barney Frank…