Recession

New York Times columnist Paul Krugman is not happy with the deal Congress and the President apparently have agreed upon to end the debt ceiling impasse. In his Monday piece, the Nobel laureate wrote, "[T]hose demanding spending cuts now are like medieval doctors who treated the sick by bleeding them":

The broadcast network evening newscasts on Friday night noted the very anemic second quarter GDP growth rate at 1.3 percent, but instead of stressing how it showed the weak economic state well before the debt ceiling showdown, they submerged it into warnings of how the delay in getting a deal is hurting the economy. On ABC’s World News, Bianna Golodryga, aka Mrs. Peter Orszag, the wife of…

The AP's coverage of the U.S. economy late Friday focused on high gas prices as the dominant, uh, driver of this year's anemic growth both visually and in its text. As will be seen after the jump, the graphic at the AP's national site is of a gas price sign. The final sentence in the caption of the full-size version reads "High gas prices and scant income gains forced Americans to sharply…

The folks at CNN should be really proud of themselves. In less than 24 hours, one of their current anchors - Fareed Zakaria - flat out lied about deficits, the debt ceiling, and the U.S. credit rating before a former host - Eliot Spitzer - falsely told viewers of HBO's "Real Time" that George W. Bush "gave us the deregulatory craziness that led us over the cliff" (video follows with…

This morning, Christopher Rugaber's coverage of the news from Uncle Sam's Bureau of Economic Analysis about the growth in the nation's Gross Domestic Product (GDP) at the Associated Press appropriately characterized it as indicative of a "sharp slowdown" and "extremely bad" (via a quoted economist). Today's report carried an advance estimate of second-quarter growth of an annualized 1.3%. As…

 Appearing as a guest on Thursday’s Last Word with Lawrence O’Donnell on MSNBC, the Huffington Post’s Sam Stein suggested that the budget plan that the House Republican leadership is trying to pass would harm the economy, and, as if the government did not take in lots of tax revenue already, referred to the absence of a tax increase as "no revenues." Stein:

The New York Times on Tuesday told its readers, "House Republicans have lost sight of the country's welfare." In an editorial entitled "The Republican Wreckage," the Gray Lady disgracefully claimed, "They have largely succeeded in their campaign to ransom America's economy for the biggest spending cuts in a generation" dimming "the futures of millions of jobless Americans":

Barack Obama might give Chris Matthews a thrill up his leg, but the bromance MSNBC's "Hardball" host has with former President Bill Clinton knows no bounds. On Monday's program, Matthews finished by nominating Clinton as Secretary of the Treasury, "Because in many ways it’s a life saver" (video follows with transcript and commentary):

Reason TV's Nick Gillespie was threatened on HBO's "Real Time" by Mayor John Fetterman (D-Braddock, Pa.). After Gillespie made a joke about Fetterman being mayor of the poorest town in Pennsylvania, the Mayor responded, "You want to take it outside?" (video follows with transcript and commentary):

Yesterday, White House spokesmouth Jay Carney made yet another claim concerning how grrrrrrreat the economy is compared when President Barack Obama took office (bold is mine): The economy is vastly improved from what it was when Barack Obama was sworn into office as president. To no one's surprise, this howler was not considered news at the Associated Press. No article found in a search at…

CNN's Fareed Zakaria Thursday called the debt ceiling battle a "sideshow" caused by the Tea Party. Appearing on "In the Arena" as a supposed "astute observer of the economy," Zakaria proceeded to bungle economic and historic facts like a high school dropout (video follows with transcript and commentary):

Today on the 2:00 pm segment of CNN Newsroom, anchor Randi Kaye spoke with CNN political producer Shannon Travis about criticism directed at President Barack Obama: TRAVIS: Yes, really, really quickly, billionaire Steve Wynn, you've seen his resorts all over Las Vegas. He's blasting President Obama. I'm going to read this quote from a call, an earnings call yesterday. Quote, "I'm saying it…

Kicking off the NBC4 11 o'clock news last night, veteran Washington, D.C. anchor Jim Vance touted an exclusive interview he had earlier that day with President Barack Obama. Vance then aired an excerpt of the interview, comprised of two softball questions. Afterwards, he informed viewers they could find the full interview at the station's website, nbcwashington.com. Unfortunately, the rest…

Chris Matthews on Wednesday gave a lesson on utterly shameless fear-mongering. In the final segment of MSNBC's "Hardball," the host said, "Failure to act on the debt ceiling will create a horror for our country, a horror we’ve never seen before" (video follows with transcript and commentary):