Economy

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  • Fox News Praises Trump’s Widely Panned Brexit Response Because He Was “In The Right Place”

    Blog ››› ››› ANDREW LAWRENCE

    Fox News’ John Roberts praised Donald Trump’s widely mocked response to the United Kingdom’s vote to exit the European Union, known as “Brexit,” claiming that Trump was “at exactly the right place, at the right time, on the right side of the issue.”

    Following the UK vote which caused worldwide economic turmoil, Trump gave a “bizarre” speech that focused on his new golf course in Scotland instead of the Brexit results. When Trump finally spoke on the referendum after being pressed by reporters, he praised the vote and welcomed the historic crash of the British currency for potentially having a positive financial effect on his Scottish golf course:

    Visiting the golf course he owns in Scotland, he praised the referendum vote, saying the British had chosen to “take their country back,” but only after he touted the sprinkler system, the drains and the luxury suites at his Turnberry resort.

    Even as his campaign sent out a fundraising email hailing the British vote as a “brave stand for freedom and independence,” he seemed at one point to welcome the crash of the British currency that threatened to undermine financial markets, noting that he might gain from it.

    “When the pound goes down, more people are coming to Turnberry,” he said.

    Trump’s response was immediately panned throughout the media. MSNBC’s Nicolle Wallace said she was “gobsmacked” at Trump’s response, noting that it highlighted the way Trump has been using his presidential bid to further his business interests. CNN’s John Avalon described Trump’s response as “completely insane,” and The Washington Post called it “a widely broadcast infomercial.”

    But on the June 26 edition of Fox News’ Special Report, Fox’s senior national correspondent John Roberts had a different view of Trump’s speech, claiming that the referendum offered Trump “the opportunity to say he has his finger on the pulse of national populism” and praised Trump for being “at exactly the right place, at the right time, on the right side of the issue”:

     

    CHRIS WALLACE: Donald Trump seemed to be at the right place at the right time, but some say HRC’s response could have been sharper.

    [...]

    JOHN ROBERTS: Donald Trump’s trip to Scotland was supposed to be all about business, but it quickly became all about politics in a way that may give him a boost back home. It was a trip that was giving Republican leaders fits, ill-timed and unnecessary, they said. Yet in true fashion, Trump found himself at exactly the right place, at the right time, on the right side of the issue.

  • Myths & Facts: The Minimum Wage

    ››› ››› ALEX MORASH

    On June 25, 1938, President Franklin Roosevelt signed the Fair Labor Standards Act (FLSA) into law and established the first nationwide minimum hourly wage. The relative value of the minimum wage has fluctuated considerably over time, but it has steadily eroded since reaching an inflation-adjusted peak in 1968 -- the $1.60 per hour wage that year would be worth roughly $11.05 today. For several years, in the face of a growing movement to lift local, state, and federal minimum wages to a livable standard, right-wing media opponents have frequently promoted a number of misleading and discredited myths about the minimum wage’s economic effects.

  • Amid Economic Turmoil, Right-Wing Media Spin Brexit As Good For Trump

    ››› ››› NICK FERNANDEZ & NINA MAST

    Right-wing media are reacting to the U.K. referendum to leave the European Union -- commonly referred to as Brexit -- by labeling the result a “very, very ominous sign for Democrats in the United States,” saying Donald Trump “looked like a genius” for saying the U.K. should leave the European Union, and claiming that “Hillary [Clinton] lost and Trump won.” Meanwhile, mainstream media warn of economic ramifications from the vote.

  • James O’Keefe Is Still Not a Journalist

    ››› ››› PAM VOGEL

    Since 2009, self-described “guerilla journalist” James O’Keefe has repeatedly embarrassed himself while attempting to launch undercover stings targeting government agencies, media outlets, and  liberal organizations and institutions.

  • A “Better Way” To Fight Poverty Based On Research, Instead Of Right-Wing Media Myths

    ››› ››› ALEX MORASH & CRAIG HARRINGTON

    Speaker of the House Paul Ryan’s (R-WI) new series of proposals -- released June 7 in a report commissioned by House Republicans titled “A Better Way to Fight Poverty” -- aims to restructure federal anti-poverty programs, but they heavily rely on myths commonly promoted by right-wing media outlets that mislead about poverty and shame the poor. On June 6, the Center for American Progress (CAP) released its own plan to reform and restructure anti-poverty programs in the United States, offering an example of what serious proposals look like when informed by serious economic research, rather than by right-wing media myths.

  • Journalists, Experts Slam Paul Ryan’s “Better Way” On Poverty

    ››› ››› CRAIG HARRINGTON

    In the week since Speaker of the House Paul Ryan (R-WI) and the Republican-led Task Force on Poverty, Opportunity, and Upward Mobility released their so-called anti-poverty agenda, titled “A Better Way to Fight Poverty,” journalists and experts heavily criticized the plan for rehashing “the same, stale, far-right ideas” pushed by Republicans in the past, and for ignoring basic facts about the inefficacy of these reforms.

  • Fox News Blasts Obama On Household Income, Fails To Mention Incomes Are Going Up

    Blog ››› ››› ALEX MORASH

    Fox & Friends co-hosts Steve Doocy and Brian Kilmeade cherry-picked new economic data to attack President Obama over the difference in median household income between now and the year 2000, but they failed to mention that median household income is still going up since it crashed after the Great Recession.

    Doocy and Kilmeade blasted Obama on the economy over new median household income data on the June 10 edition of Fox News’ Fox & Friends, but they failed to mention that recent incomes have risen year to year. Seizing on pre-recession data, Kilmeade noted that median household income is down from 2000, when the annual household median income was $57,342 in 2016 dollars. Although Fox & Friends pointed out that this is $79 more than 2016’s median household income of $57,263, the co-hosts did not note that the 2016 figure is still an increase of $2,409 from last year, continuing the post-recession upward trajectory.

    Doocy also criticized the president for not getting gross domestic product growth up to 3 percent during his tenure, falsely claiming, “President Obama has been historic … because no U.S. president has ever not had 3 percent growth in a single year.” Doocy’s bizarre claim is wrong: Republican President Herbert Hoover not only never hit 3 percent growth, but he failed to hit zero percent growth, according to data from the Bureau of Economic Analysis (BEA).

    The bureau has consistent annual data from 1930 to the present. Because of the Great Depression, the economy contracted at a rate of 8.5 percent in 1930, 6.4 percent in 1931, a staggering 12.9 percent in 1932, and 1.3 percent in 1933. The contraction in 1933 may have been even greater, had Franklin Delano Roosevelt not replaced Hoover in the White House in March of that year, and chosen to initiate the substantial government stimulus projects known as the New Deal. Hoover is also not the only example that disproves Doocy’s claim -- reliable GDP estimates prior to 1930 are difficult to find, but available data show four consecutive presidents overseeing economic growth of less than 2 percent from 1871 to 1885.

    Fox & Friends has pushed conservative misinformation on the economy before, sticking to a right-wing script reported on in an April 28 blog post by Washington Post columnist Paul Waldman. Waldman explained how Republicans mislead the American public about the health of the economy by ignoring positive economic trends. The focus of Waldman’s comparison was the “objective reality” of progress and areas for improvement specified by Democratic presidential candidate Hillary Clinton and the “laughable fantasy” of “an absolute [economic] nightmare” outlined by Republican front-runner Donald Trump, but it could have just as easily been any of the personalities at Fox News. The June 10 Fox & Friends segment that misled on median household income is just another example of right-wing media sticking to the script.

  • Wall Street Journal Vs. Wall Street Journal: Puerto Rican Citizenship Edition

    WSJ Highlights Poll Showing Few Know Puerto Ricans Are U.S. Citizens Weeks After Slurring Them As "Refugees"

    Blog ››› ››› CRAIG HARRINGTON

    The disparity between The Wall Street Journal's objective news reporters and its right-wing editorial slant was on full display in a reporter’s blog post highlighting how few poll respondents can correctly identify Puerto Ricans as American citizens. The public's lack of awareness is no doubt fed by outlets like the Journal, which slurred Puerto Ricans as "refugees" in an editorial just five weeks ago.

    A June 9 blog post in The Wall Street Journal from economics correspondent Nick Timiraos surmised that one of the challenges members of Congress face as they debate bipartisan legislation to help Puerto Rico stabilize and restructure billions of dollars of government debt is that so few of their constituents realize that Puerto Ricans are natural-born American citizens:

    Pop quiz: What’s the national citizenship of people born in Puerto Rico to parents who were also born in Puerto Rico?

    If you don’t know the answer to that question, you’re not alone. Puerto Ricans are U.S. citizens, but only 43% of Americans answered correctly in a recent Economist/YouGov poll. Some 41% said they were citizens of Puerto Rico, while another 15% weren’t sure.

    The statistic underscores one challenge Congress has faced as it considers legislation to address the island’s debt crisis: The issue hasn’t been a high priority for lawmakers partly because their constituents aren’t aware that Puerto Ricans are U.S. citizens.

    There are many explanations for why 41 percent of respondents to an Economist/YouGov poll conducted in early May might have incorrectly thought Puerto Ricans are not American citizens. Perhaps the respondents had been reading The Wall Street Journal’s editorials, which on May 2 warned that the island’s debt crisis could create an “exodus” of “Puerto Rican refugees” to the United States mainland. The paper expressed outrage that these so-called “refugees” might “qualify for Medicaid, food stamps and public housing” and worst of all “be able to vote.”

    Because Puerto Rico is not a state, its millions of residents do not have any representation in the Congress that will decide their fate -- the same is true for hundreds of thousands of Americans living in other U.S. territories, including Washington, D.C. The editors of the Journal were stoking anxiety that foreign immigrants might move to the United States to steal jobs and skew elections, but the fact is American citizens have the right to live and work wherever they choose in their own country.

    Puerto Rico is an integral part of the United States and has been for nearly a century. Its residents have enjoyed birthright citizenship since March 2, 1917, thanks to the Jones-Shafroth Act. Full citizenship was later extended to “All persons born in Puerto Rico on or after April 11, 1899,” by the Immigration and Nationality Act of 1952.

  • Ryan's "Better Way" Poverty Plan Is Based On Myths From Right-Wing Media

    ››› ››› ALEX MORASH

    Speaker of the House Paul Ryan (R-WI) and the Republican-led Task Force on Poverty, Opportunity, and Upward Mobility released the GOP’s latest policy plan to cut government anti-poverty assistance programs. Many of the arguments in favor of Ryan’s proposed reforms are based on easily debunked right-wing media myths and poor-shaming. Ryan’s rhetoric in this poverty “reform” agenda -- titled “A Better Way to Fight Poverty” -- is gentler than in his previous policy proposals. But his plans are still based on myths, and his solutions once again are focused on gutting vital programs designed to assist Americans struggling to make ends meet and families in need.