National Debt

James Pethokoukis of Reuters published a chart Tuesday demonstrating exactly why all the hysteria about a debt default or missing Social Security check payments is a bunch of nonsense. If America's news outlets were actually interested in disseminating the truth rather than fear-mongering, this chart or something like it would be part of every report involving the debt ceiling:

The New York Times's chief economics writer David Leonhardt proposed his usual solution – tax hikes – to the ongoing budget and debt-ceiling battles between congressional Republicans and President Obama in his confidently titled Wednesday column “Why Taxes Will Rise In the End.” Leonhardt struggled to ponder why his fellow citizens stubbornly refuse to raise the debt ceiling. Polls show that…

New York Times reporter Jackie Calmes’s latest front-page story on the budget battle displayed typical Times’s labeling bias, with “angry conservatives” but no liberals. Calmes also paid the Republican leadership a backhanded compliment for trying to stop their conservative base from provoking a financial crisis. On Tuesday, Calmes claimed on the front page that Obama was “repositioning”…

On Wednesday's NBC Today, co-host Ann Curry talked to left-wing MSNBC host Chris Matthews about the debt ceiling fight, who cheered Senator Mitch McConnell's plan to give President Obama sole authority to raise the nation's credit limit: "...the White House seems to be happy that somebody on the other side realizes how dangerous this is going to be next week." Later, Matthews went further in…

As a result of Scott Pelley's interview with President Obama on the "CBS Evening News" Tuesday, the media are once again scaring seniors with the absurd notion Social Security checks won't go out in August if the debt ceiling isn't raised. An examination of the video and transcript of the relevant sections of this exchange bring into question whether or not that's actually what the President…

President Barack Obama told CBS News today that there may not be enough money in the U.S. Treasury to cover Social Security checks after Aug. 3 if Congress does not agree to lift the legal limit on the federal debt and allow his administration to borrow more money. "I cannot guarantee that those checks go out on August 3rd if we haven't resolved this issue. Because there may simply not be the…

Some people can spot a slight in every compliment, whereas others — the happy ones — find a compliment in every slight. So last week, as a free-market, low-taxes, constitutional conservative, I happily found an apparently unintended compliment from the liberal New Republic. It is not often that I agree with the central attack line of my sometimes media sparring partner, The New Republic's Ed…

On Tuesday's Morning Joe on MSNBC. co-host Mika Brzezinski harshly criticized Republicans for not caving on tax increases to make a debt-limit deal. "I think the Republicans look stupid and mean. I'm sorry, this is stupid. This is a no-brainer in terms of a deal. This is a no brainer and they look mean and they look difficult and they're going to lose this," she said. Video is below...

In an interview with radio host Laura Ingraham on Tuesday's NBC Today, co-host Matt Lauer fretted over the lack of a deal on raising the debt ceiling and called on Republicans to abandon their opposition to tax increases: "When it comes to taxes, this issue of revenues, is there any way this deal gets done without the Republicans compromising somewhat on taxes?" [Audio available here]…

CNN's Anderson Cooper and Gloria Borger took turns casting President Barack Obama as the centrist 'adult' in a room teeming with unruly Republican children who would rather invite economic calamity than compromise on a debt-reduction plan. Discussing a topic that would have made a perfect "Keeping Them Honest" segment, Cooper insisted, incorrectly, on Monday's "AC 360" that the Democratic…

  On Sunday’s World News on ABC, correspondent Jonathan Karl suggested that Democrats in the House, rather than take a political position based on principle, refuse to vote for a budget plan that would reform Medicare because they wish to use Medicare to run against Republicans and take back the House. As Karl recounted that he had recently spoken with House Democratic leaders, it is unclear…

Martin Bashir Monday falsely accused former Alaska governor Sarah Palin of calling President Obama a sugar daddy. Not only did the MSNBC host badly misinterpret Palin's words, he clearly doesn't understand what a sugar daddy is (video follows with transcript and commentary):

President Barack Obama and congressional leaders seeking to negotiate a deal to increase the legal limit on the federal government's debt, would need to agree to increase that debt by $615.865 billion between now and Sept. 30, just to keep the government going at current spending levels, according to the CBO's latest estimate of the fiscal 2011 deficit and the Treasury Department's latest…

At a White House press conference today, President Barack Obama said that "professional politicians" understand the debt crisis better than "the public."