Recession

How could anyone take a principled stand against the $789 billion economic stimulus bill? Any opposition to this massive expansion of the federal government must be sheer political posturing. Or so said Newsweek magazine's Jonathan Alter. Alter said on MSNBC's Feb. 11 "Countdown with Keith Olbermann" that congressional Republicans oppose the stimulus bill based on an ill-conceived, low-…

Imagine for a moment an American newspaper publishing a column with the following opening sentence:Has Barack Obama’s presidency already failed? Not in a million years, right?Well, on Wednesday, one of the most respected international publications, the Financial Times of London, published such an article written by its associate editor and chief economics commentator Martin Wolf. In it was an…

The Obama-loving media might adore flowery rhetoric with little substance, but stock investors sure don't.That's what traders and market professionals said was responsible for Tuesday's stock market collapse after Wall Street was tremendously disappointed with the lack of specifics in the highly-anticipated bank rescue plan presented by newly confirmed Treasury Secretary Timothy Geithner. As such…

Some quick takes on the very brief presidential press conference wrap-ups on ABC, CBS and NBC before each returned to entertainment shows a bit after 9 PM EST: - ABC anchor Charles Gibson lauded how President Obama treated “each question almost as a teaching moment with long and expansive answers.” - CBS anchor Katie Couric cited how Obama talked “about 'ideological blockage'” against the “…

It's a question we've all been waiting to hear answered. Unfortunately, it took a conservative talk radio host to ask it and didn't come from the mainstream media. In an interview with Republican Sen. Arlen Specter, Pa., on Feb. 9, talk show host Laura Ingraham asked why he and Sens. Olympia Snowe and Susan Collins are the only three out of 229 Republican members of Congress to support the…

While Capitol Hill is working on a "compromise" I thought it fitting to take a look at how the usual suspects in the media are dealing with Republican leaders that dare speak out and identify elements of the stimulus package that have nothing to do with stimulating the economy. For this task I turned to Rolling Stone Magazine and quickly came upon an article headlined "The Unserious Opposition".…

Say goodbye to hope and change. It's time to embrace the politics of doom and gloom. MSNBC host Contessa Brewer, in an interview that seemed a lot like a lobbying campaign for the stimulus set for a vote in the U.S. Senate, quizzed Sen. John Barrasso, R-Wyo., about the possibility that his vote against a stimulus bill could send the country spiraling into a Depression - and endanger the public's…

He might be on the Forbes list of billionaires with a net worth of $1.3 billion and he may appear frequently in the financial media, but Pimco's Bill Gross doesn't have a grasp of how much "trillions" are. Gross recently called for a massive government intervention or face certain catastrophe.  "This economy requires support from the government, a check from the government in some form or…

It's time to wave the white flag and surrender to "post-partisan" unity. Yes, it's time for conservatives to abandon core principles and just allow the Pelosi/Reid/Obama pork-a-palooza, also known as the stimulus or the American Recovery and Reinvestment Bill of 2009, to pass into law. At least that's what one Newsweek columnist would have conservatives do. Now is not the time for political…

Don't like the notion of Wall Street employees receiving bonuses? Shoot the messenger - as Adam Green at The Huffington Post has done. In a Feb. 2 post on The Huffington Post, Green said it was bad form for CNBC "Street Signs" host Erin Burnett to even think about considering the other side of the anti-Wall Street bonus argument, since some Wall Street banks received TARP funds, courtesy of the…

ABC's "World News Sunday" found a new twist on the obesity crisis Feb. 1. Apparently, recession can "lead to a spike in obesity." Anchor Dan Harris introduced the "counterintuitive" report saying, "Americans are cutting back on food spending which could actually lead to a spike in obesity." Why? Because "eating healthy can cost more," ABC's Stephanie Sy reported.Sy worried about "cheap treats" "…

With all the populist sentiment generated from the economic slowdown by politicians, CNBC "Mad Money" host Jim Cramer is seeing eerie similarities with the comments of President Barack Obama and the words of a communist revolutionary. Cramer, appearing on MSNBC's Feb. 2 "Morning Joe," drew comparisons between remarks between the first head of the Soviet Union, Vladimir Lenin, and Obama. Obama…

Reporter Jason DeParle garnered Monday's lead story slot in the New York Times with an investigation into how the U.S. welfare system, which went through enormous changes in 1996 after President Clinton signed a bill replacing cash entitlement with work requirements and time limits, is functioning state by state during tough economic times ("Welfare Aid Failing to Grow as Economy Lags)." But…