Recession

UPDATE, JULY 18: This post was based in an Associated Press's quote of a statement President Obama made to NBC News that "my policies ... got us out of this mess." Subsequent review of the video and transcript of that interview shows that the President really said "my policies ... are getting us out of this mess." I have prepared a follow-up post dealing with this matter and a separate…

Liberal talk radio host Bill Press says President Obama's poll numbers are down because Americans are spoiled, impatient children that want everything solved yesterday.After describing to his listeners Tuesday all the fabulous accomplishments this president has made since taking office in January 2009, Press admonished the citizenry for giving the White House resident poor grades for his efforts…

After pushing manmade global warming for years, the folks at Newsweek appear to be cooling on the idea.Prominently placed at the front page of the magazine's website Monday was a large, overhead picture of what appeared to be a golf fairway or park with the following headline in green:A Green Retreat: Why the Environment is No Longer a Surefire Political WinnerEven more surprising was the…

Channeling her inner Nancy Pelosi, Rachel Maddow on Sunday actually said extending unemployment benefits is "the most stimulative thing you can do" to help the ailing economy.Appearing on the panel discussion of NBC's "Meet the Press," Maddow boldly presented a liberal view of economics that only the current House Speaker would be proud of."I think that most Americans also, though, understand the…

George Will on Sunday accused Barack Obama of being an expert at selling snake oil.As the Roundtable segment of ABC's "This Week" began, host Jake Tapper asked Will if the President's claim Republicans "are peddling that same snake oil that they've been peddling now for years" will resonate with voters this November.Will marvelously responded, "No, because he is an expert on snake oil." "This is…

While some on the left side of the aisle in Congress are getting all starry-eyed about prospects of more federal stimulus spending, the first round of stimulus under President Barack Obama may have done even less to help the ailing economy than supporters claim. On MSNBC's July 9 broadcast of "The Daily Rundown," co-hosts Chuck Todd and Savannah Guthrie interviewed CNBC "Closing Bell" anchor…

This morning CNNMoney.com reports "Jobless claims slide in latest week."  The article starts:The number of Americans filing first-time claims for unemployment insurance fell last week, according to a government report released Thursday.There were 454,000 initial jobless claims filed in the week ended July 3, down 21,000 from an upwardly revised 475,000 in the previous week, the Labor Department…

New York Times columnist Paul Krugman is angry the Senate hasn't once again extended unemployment benefits, and he's blaming "heartless, clueless and confused" Republicans."There was a time when everyone took it for granted that unemployment insurance, which normally terminates after 26 weeks, would be extended in times of persistent joblessness. It was, most people agreed, the decent thing to do…

Those looking for evidence that there is a move afoot in the establishment press to lower the bar for whatever economic accomplishments might be accomplished during the Obama administration will be interested in how the Associated Press's report on the government's June jobs report defined "normal" unemployment. Perhaps it's valid for reporters Jeannine Aversa and Christopher Rugaber to refer to…

Paul Krugman is known for throwing a bomb or two from his platform in the New York Times, but it's really tough to take him for a violent fellow. In his July 2 blog post, "I'm Gonna Haul Out The Next Guy Who Calls Me ‘Crude' And Punch Him In the Kisser," Krugman lamented criticism of his support for more stimulus spending. A July 1 editorial in The Economist noted that the economy needs more…

Add New York Times columnist Bob Herbert to the growing list of liberal media members realizing that Barack Obama's campaign slogan "Hope and Change" was nothing but a great sales pitch."Mr. Obama and the Democrats have wasted the once-in-a-lifetime opportunity handed to them in the 2008 election," wrote Herbert Tuesday."They did not focus on jobs, jobs, jobs as their primary mission." No, they…

It's hard to imagine an economist being provocative, but Paul Krugman, a Nobel Prize winner, has managed to do so. In his June 28 New York Times op-ed, Krugman argued that since governments around the world aren't willing to double-down on Keynesian policies meant to stimulate the global economy, the United States and the rest of the world are facing a third depression. But on CNBC's June 28 "…

According to liberal economic Paul Krugman, a "third depression" will occur if nations tighten their belts and attempt to balance their budgets. Forget about the riots in Greece over a social welfare system the government couldn't maintain or a $1.4 trillion annual U.S. budget deficit. Krugman claimed that the threat of deflation supersedes both of those results of runaway government spending -…

George Will on Sunday gave a much-needed economics lesson to New York Times Washington correspondent David Sanger that greatly demonstrated the difference between how conservatives and liberals view unemployment benefits.As the Roundtable segment of ABC's "This Week" shifted to the G20 summit in Toronto, Sanger said, "Just the day before [Barack Obama] left, Congress could not come to an…