The Balance Sheet

Krugman's Obama Would be Like 'Franklin Delano' Paul Krugman thinks he can shape policy with his New York Times column, and President Barack Obama has proved open to suggestions. If Krugman gets his way, that could mean an even bigger stimulus package than the $825 billion one already proposed. News Id Like to See Here are a few stories that would make turning on the news a lot more pleasant. Obamas Open and Shut Approach to Access Inauguration committee cuts deals to get $5 million from media outlets and squeezes out ordinary citizens. Econ 101: That Old-Time Keynesian Theory Nobel... continue reading
Tennessee Sludge Spill: Government Disaster 30 Times Worse than Exxon-Valdez The nations largest utility, TVA, is responsible for spilling roughly a billion gallons of toxic sludge in Tennessee. News media were quick to denounce the disaster, but not to admit that TVA is a government entity. The Kidnapping of Santa Claus A system that rewards failure cannot right itself. Big Government vs. Good Government President-elect's push to delay digital TV conversion shows he lacks faith in mandates. continue reading
New from the Business & Media Institute continue reading
Pumped Up Prices Gas and oil prices have collapsed despite media predictions they would both spike much higher. In more than 500 oil and gas stories one thing is obvious you are better off flipping a coin than relying on media price predictions which are wrong nearly two-thirds of the time. 'Lost' In America In 2008, we've lost a lot more than mere wealth. Media's Gas Price Crystal Ball Is Murky Journalists can't predict the future, but keep on trying anyhow. G: One Year Later: Murdoch's WSJ Purchase Not So Bad B: CNN Weeps for Japanese Recession 'Orphans' U: Media... continue reading
The Media's Top 10 Worst Economic Myths of 2008 Each year the Business & Media Institute looks back on the year's news and selects the top 10 worst economic myths. Our 2008 list ranges from the demise of capitalism, the market failure of Fannie Mae, to the call for a new, New Deal. Will 'The Secret Millionaire' Arrive At Your Door? Not if you're sitting around waiting for him. Unemployment Nearly as Bad as During Clinton Media selectively spin downturn into foundation for new, New Deal. G: NY Times columnist David Carr blames media for economic fear. B: Time editor... continue reading
Networks Darken 'Black Friday' Leading up to the unofficial start of the holiday shopping season, the media billed the day as a barometer for the season. But when sales were better than expected reporters grimly explained away the data. Journalists are MIA on Bailouts Real reporting would give taxpayers details, perspective on automakers and government. Obama Supporters Like Capitalism After All From commemorative issues to $35,000 rentals, the left is having a free-market field day. G: CNBC shows that Ford CEO 'green' road trip cost $23,000 B: Michigan Mayor: No auto bailout will mean Depression U: Cramer: Depression comparisons are scare tactics. continue reading
Networks Gloss Over Geithners Past, Ignore Criticism Reports on ABC, CBS and NBC have promoted incoming Treasury Secretary Tim Geithner as highly regarded and much-admired, but have ignored blemishes on his record. Automakers, Unions Play Defense to Get Bailout Failing manufacturers claim taxpayer rescue is necessary on national security grounds. Media Fail to Connect Dots on Bailouts Journalists blind to how government is chief cause of many industry problems. G: CBS Shows Green Innovation Can Be Done Without Government B: ABC, CBS, NBC Cheerlead for 'New-New Deal' U: Michael Moore Proposes Gov't Takeover of Autos, Good Riddance to Capitalism continue reading
Networks Back Big Three Bailout Network journalists are rushing to promote a taxpayer bailout for American automakers without exploring one of the main causes of their financial turmoil: union contracts. Politicians, Journalists Have Eyes On The Wrong Ball Portrayal of AIG conference as 'wine, women and song' shows ignorance of business. It's Not an Auto Bailout, It's a Union Payoff Democratic leaders, media push for more cash to help liberal voting bloc. G: FBNs Glick criticizes Paulsons bailout on CBS B: GMA attacks Victorias Secret with faulty bra lawsuit U: Presidential historian warns Obama could ban ANWR drilling without Congress. continue reading
Journalists Credit Obama for Stock Gains, Ignore Losses The media rushed to laud President-elect Obama after an Election Day stock market rally, but when stocks dived by nearly 1,000 points in the following two days there was no question of blame for him. Will Obamanomics Spike Unemployment in 2009? Small business owners fear higher taxes and health care mandates. All's Fair with the Left Media ignore how unfair liberal plans really are. G: Financial Times editor questions GM bailout B: NYTimes.com: Government intervention is lesson from 1930s U: Cramer's housing solution: halt illegal immigrant deportations continue reading
Networks Obsess Over Polls, Limit Substantive Coverage The media had an opportunity in the final week before the election to give viewers one last look at how the candidates policies would affect the nation. Instead, they reported poll numbers and horse race stories by nearly an 8-to-1 margin. The Death of Ford Motor Company Government bailout means automaker can't compete with GM-Chrysler and government. And the Winner Is ... Anyone but the Media Journalists refuse to believe any link between industry collapse, liberal bias. G: Evening News shows Obama plan $90 billion in the red B: CBS rate cut story... continue reading