Housing

It's becoming clearer with each passing day the Obama-loving media are now in a full-scale panic that the man they helped get elected in 2008 is in serious trouble to repeat that feat in 2012. Take for example Newsweek/Daily Beast which published a piece moments ago with the somewhat shocking headline, "Is Barack Obama Too Weak to Win in November?":

Peter Goodman, the business editor for the perilously liberal Huffington Post, has come up with a new highly-derogatory term for people on the right that believe there isn't an unlimited amount of money at the government's disposal. His Monday headline read, "Bleeding Cash Conservatives Wasting Money To Punish Vulnerable Americans":

Readers are strongly advised to remove food, fluids, and flammables from proximity to their computers prior to reading any further. You've been warned! New York Times columnist Paul Krugman said on ABC's This Week Sunday, "It's terribly unfair that [President Obama is] being judged on the failure of the economy to respond to policies that had been largely dictated by a hostile Congress" (…

As we approach Election Day, it's becoming more and more important for the Obama-loving media to give credit to the President for the economies of swing states governed by Republicans that are doing better economically than the rest of the country. Candy Crowley did her part on CNN's State of the Union Sunday by asking Governor Bob McDonnell (R-Va.), "Don’t you credit President Obama at all…

To be fair, the full text of what Martin Crutsinger at the Associated Press wrote in the first sentence of what I believe was the final version of his report today on the Census Bureau's new-home sales release was that "Americans bought more new homes last month, the latest evidence that the U.S. housing market could be starting to recover." The other "evidence" he cited related to a small bump…

New York Times columnist Paul Krugman on Sunday continued his campaign to get Barack Obama reelected by misinforming the public about the economy. Appearing on CNN's Fareed Zakaria GPS, the Nobel laureate falsely claimed Republican presidential candidate Mitt Romney wants to enact Greece's failed economic policies here in America (video follows with transcript and commentary):

I just about knew it when I heard a top-of-hour radio report this morning. When the announcer intoned that there was a 3% increase in "home construction" in April, I said to myself: "There's the Associated Press again, up to its old tricks." That was indeed the case. When I went to the related AP reports, I found that they were, like the economic data coming out during the Obama administration…

In the first quarter of 2012, the federal government spent $966 billion. That's 10% more than the $877 billion spent during the previous quarter, and 2% more than the $949 spent during the first quarter of 2011. Yet the party line Friday evening from Christopher Rugaber and Paul Wiseman at the Associated Press, aka the Administration's Press, is that economic growth in the first quarter,…

Yesterday the trustees who oversee Social Security announced that "the program's trust fund will be depleted by 2033 -- three years earlier than projected last year." "Never since the 1983 reforms have we come as close to the point of trust fund depletion as we are right now," trustee Charles Blahous said. But alas, the Washington Post shuffled that story over to page A3 rather than the front…

Just 49 percent of homeowners in America now believe their home is worth more than they paid for it. Rasmussen Reports has asked that question for years, and it has never before fallen below the 50 percent mark. This represents a sea change in personal finances that challenges core assumptions about the way our economy works.

After reading Derek Kravitz's final report of the day at 4:45 p.m. on the housing market at the Associated Press, aka the Administration's Press, I just had to check the other wires to see if they were sipping from the same housing-market-in-recovery koolaid. The answer is no. At Reuters, Jason Lange's 3:22 p.m. dispatch reported that "Output at U.S. factories slipped in March and builders…

The stunts the folks at the Associated Press, aka the Administration's Press, continue pulling to downplay, minimize, or whitewash bad or embarrassing economic and other news shouldn't surprise us any more. But they continue to disappoint nonetheless. Last month, a consumer sentiment index reported by the Conference Board fell by a relatively modest amount. Headlines and descriptions at…

Derek Kravitz and Alex Veiga at the Associated Press, aka the Administration's Press, must have doubled down on the energy drinks over the weekend. A Sunday morning report (HT to a NewsBusters tipster) telling readers that signs are "pointing to a long-awaited recovery" in the housing market went on, and on, and on, and on for over 1,350 words. The factors the AP pair cited were primarily…

You've got to admire the determination of Derek Kravitz at the Associated Press, aka the Administration's Press, to find lemonade among the lemons known as the monthly new-home construction statistics from the Census Bureau. Why, he was even able to find a guy who said that "housing permits-not the starts" are more relevant in gauging the health of the market. Did it ever occur to these guys…