Recession

Wednesday’s Good Morning America led into an interview with House Republican Leader John Boehner about the massive Democratic “stimulus” package with a deluge of horror stories about the awful economy: an elderly man who froze to death after failing to pay his power bills; a new report declaring the need for $2 trillion in new infrastructure spending; and an unemployed man who killed his family…

Kyra Phillips of ‘Newsroom’ and Christine Romans discuss ‘discouraging’ lack of women in Obama’s cabinet, job package that ‘favors’ men. Liberal feminists claim that President Obama’s administration will not have enough female representation and that the job creation part of his stimulus plan will favor men. But on CNN’s Newsroom, lack of the feminist perspective certainly wasn’t an issue Jan. 23…

The Associated Press's 1:12 p.m. coverage (saved here, as the dynamic link changed during the drafting of this post) of the Senate Finance Committee's hearing on Barack Obama's nomination of Timothy Giethner as Treasury Secretary has plenty of discussion of Geithner's tax "mistakes" (the picture, but not its heading, is from a November 21 New York Times article). But as has been the case with…

At a time when the United States is fighting two wars and faces a severe recession and huge budget deficits, the inauguration of Barack Obama as the nation's 44th president is estimated to cost $45 million. Bush's 2004 inauguration cost roughly $40 million. But though the figures are similar, there's been a major shift in the tone of coverage at the New York Times. While the Times spent much of…

Business & Media Institute's Dan Gainor appeared on "Fox & Friends," Jan. 12 to discuss why, with trillions of dollars, millions of jobs, and the future of our economic system on the line, the mainstream media won't ask Obama tough questions on his stimulus plan.Given the media favoritism for Barack Obama during the campaign, Gainor said, "So, it's no surprise that they're not asking him…

Maybe Rachel Maddow watched one too many clips of Bill Clinton during the '92 campaign claiming George H.W. had "driven the economy into a ditch" and that things were as bad as they'd been since the Depression.  In the course of trying to lower expectations for Obama to the max on her show tonight, and tracing the history of the economies previous presidents inherited, Maddow claimed that "…

On Sunday’s Face the Nation on CBS, fill-in host Chip Reid discussed the economic crisis with left-wing economist and New York Times columnist Paul Krugman, wondering: "I know you've been arguing for a more progressive government for a long time and obviously at difficult times like this, I don't want to suggest that a recession is a good thing. But if looking back at this five years, or some…

Here are the key numbers (in red) in Uncle Sam's November Personal Income and Outlays report (the July : Common sense says that the chart's results after adjusting for inflation are more important (identified as "Chained [2000] dollars") than those in current dollars. Consmers' disposable income went up 1.0% in real (after-inflation) terms in November after a 0.7% increase in October. It took a…

The roundtable on Monday night's Special Report with Brit Hume on FNC was not kind to the New York Times's hit piece on Sunday's front page that blamed President Bush and only Bush for the mortgage meltdown, ignoring the Democrats in Congress who protected the irresponsible push for more "affordable housing" by Fannie Mae and Freddie Mac (as Times Watch noted yesterday). Nina Easton, Washington…

 This is a timely op-ed from Dan Gainor of BMI.Christmastime is the time of giving. So we can thank Bernie Madoff for giving Americans some special gifts this holiday season.Yes, I said thank him. OK, maybe not a lot. But the one-time financial wizard's downfall is a morality tale that provides so many lessons it's almost impossible to know where to start. If you've been living under a rock, the…

UPDATE AT END OF POST: White House issues statement concerning "Irresponsible Reporting by New York Times."It's official: the housing and financial crisis gripping the nation is President George W. Bush's fault.So said the New York Times Sunday in a 4900-word, front page hit piece entitled "The Reckoning - Bush's Philosophy Stoked Mortgage Bonfire."And what was this heinous, catastrophic…

On CBS’s Sunday Morning, correspondent Chip Reid compared Obama’s economic plan to that of Franklin Roosevelt and the New Deal: "During the Great Depression, Franklin Delano Roosevelt started the Works Progress Administration, the WPA. It would put 8.5 million to work...Now a new American president-elect is vowing to put the country back to work. This Sunday Morning, we'll take a look back at the…