Economy

Democratic Sen. Chris Dodd of Connecticut, chairman of the Senate Banking Committee, has remained largely unhurt by the controversy over his "sweetheart" deal with mortgage lender Countrywide. But CNBC's "Squawk Box" co-host Carl Quintanilla finally bucked the media trend of ignoring the scandal and brought the loan up in an interview July 14. Dodd appeared on CNBC's "Squawk Box" in the wake…

Remember the grief Dick Cheney received in late 2000, and then President Bush in early 2001, when they were accused of “talking down the economy”? We already know from history that the economy had already slipped into negative growth during the third quarter of 2000; so it's fair to say in hindsight that Cheney and Bush were actually observing reality. Specifically, Cheney's 2000 statement was…

In the wake of former Sen. Phil Gramm's statements earlier this week about this being a nation full of whiners, the good folks at ABC's "Good Morning America" brought on a consumer psychologist Sunday to discuss whether or not the McCain advisor had a point.Shockingly, not only did Kit Yarrow tell host Kate Snow that "the way consumers feel about things is very emotional," but also these "…

On Saturday, Ben Stein accused the media of whipping the nation into a frenzy concerning how the economy is doing. On Sunday, ABC's George Stephanopoulos proved his point.While talking to California Governor Arnold Schwarzenegger on "This Week," Stephanopoulos actually said of the economy, with a straight face no less, "In the last four years it's gone more down than up."I kid you not (photo…

Does the Washington Post agree with former Sen. Phil Gramm's recent assessment that "We have sort of become a nation of whiners" when it comes to the economy?After all, the Post published an op-ed Saturday by economic historian Amity Shlaes entitled "Phil Gramm is Right." Although readers are strongly encouraged to review the entire marvelous piece, the following are some of the highlights (…

Days after former Sen. Phil Gramm told the Washington Times that "We have sort of become a nation of whiners" when it comes to the economy, Ben Stein claimed, "It's the media that is whipping us into this frenzy."Deliciously, this came just minutes after a Democrat strategist actually said, "We are in the toughest economic time we have ever been in this country." As such, I would make the case…

MSNBC has recently taken their negativity to a whole new level of fear mongering with a promotional ad peddling their election coverage. The ad features reporter Andrea Mitchell narrating the voiceover:People really care because our kids are falling behind in school. Because health care is no longer affordable, we’re at war, the American economy is in trouble.While MSNBC had a bullpen of biased…

The Associated Press's Jeannine Aversa "creatively" and selectively rounded figures presented in today's Monthly Treasury Statement from Uncle Sam. That Treasury report, released this afternoon, covered monthly and year-to-date receipts and spending in the federal government. By doing what she did, Aversa made sure we know that year-to-date receipts are down, but at the same time made Congress's…

Appearing as a guest during the 10 a.m. hour of the July 11 “MSNBC News Live,” Chicago Tribune managing editor James Warren compared McCain adviser Phil Gramm’s recent comments on the economy’s health to those of Henry Ford during the Great Depression: But I think in the annals of a not particularly sensitive remarks this will rank up there with a bunch of things. Somebody, a historian…

On Friday’s CBS "Early Show," co-host Harry Smith introduced a segment on comments by John McCain economic adviser Phil Gramm: "Let's talk about the economy now. Number one on voters' minds. Senator John McCain has been backed into a corner by a key economic adviser and forced to disavow some controversial statements." A report by correspondent Bill Plante followed in which he declared: "After…

Various media outlets have jumped on the comments of Phil Gramm, an advisor to John McCain's presidential campaign, that when it comes to the economy, "we've sort of become a nation of whiners." However, these same organizations, such as ABC News, have done their part to promote such things as fretting over no more Christmas presents. For instance, on the November 12, 2007 "Good Morning America…