One of the moderators of CNBC's October 28 Republican debate, John Harwood, called out several members of the GOP presidential candidate field in a New York Times article that debunked their attempts to frame major tax cuts for the wealthy as "populist" tax reform proposals. Will Harwood hold the candidates to the same standard during the live, televised debate?
CNBC will host the third GOP presidential primary debate on October 28, which is set to focus on economic issues. So will the network that describes itself as the "world leader in business news" ask the candidates to reconcile their positions on climate change with the views of prominent Republican Senator Kelly Ayotte and many of America's leading businesses and financial leaders, who have expressed support for climate action and warned of the severe economic risks associated with unchecked global warming?
A study of CNBC's coverage of the crisis of money in politics ahead of its October 28 Republican presidential debate reveals that the network has rarely explored the implications of an out-of-control campaign financing system and its effect on the political process. Media Matters analyzed the financial news network's content beginning on March 23, when the first 2016 presidential candidate officially entered the race and found that it has failed to report on the expanding influence of wealthy individuals and corporations who donate to campaigns, or the impact of the Supreme Court's 2010 Citizens United decision, which began a rollback of campaign finance reform measures that is negatively impacting not just elections, but the economy as well.
Fox News is using CNBC's announcement that it would change the format of its upcoming GOP presidential debate following presidential candidate Donald Trump's demand that the network do so to applaud Trump's negotiating skills.
Several media outlets have refuted Republican presidential candidate Sen. Marco Rubio's claim that his tax reform plan sets him apart from GOP rivals because it would balance the federal budget in 10 years.
Several media outlets parroted Republican presidential candidate Jeb Bush's economic message after he claimed his administration would oversee 4 percent economic growth and the creation of up to 19 million new jobs. But economists argue that his goals are unrealistic, and question the impact any single president can have on "decades-long trends."
Media outlets like CNBC, The Wall Street Journal, Fox Business, and Bloomberg Television have been giving a platform to a disgraced financial firm that was fined $1.5 million by the Securities and Exchange Commission for engaging in "deliberate fraud" and profiting from "false statements."
The firm, Stansberry Research, heavily markets itself in conservative media by catering to right-wing audiences' fears of President Obama and big government. It predicts doomsday "End of America" financial scenarios that involve waves of violence, "martial law," and the destruction of the American economy. Last year, for instance, Stansberry claimed on its EndofAmerica.com website that on "July 1st, 2014," "'H.R. 2847' goes into effect. It will usher in the true collapse of the U.S. dollar, and will make millions of Americans poorer, overnight." (America and the dollar did not end.)
Numerous observers have criticized Stansberry's marketing practices as "misleading," "dubious," "questionable," and "an example of the worst excesses of financial marketing."
The firm also paid a $55,000 civil monetary penalty to the Social Security Administration in 2011, while not admitting wrongdoing, to settle an allegation it broke federal law.
Media outlets are demanding that Hillary Clinton be subject to an independent review of her personal email account to disprove their own baseless suggestions that she engaged in illicit activity or failed to properly disclose all work-related correspondence. The demand ignores that every State Department employee, regardless of whether they use government or personal accounts, decides for themselves whether or not to preserve their emails.
From the February 26 edition of CNBC's Squawk Box:
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CNBC anchor Joe Kernen praised Gov. Scott Walker's (R-WI) efforts "to get your state's finances in order" and suggested "reasonable people" would agree with his economic record. In reality, job and wage growth under Walker have trailed behind the national average, and he "will skip more than $100 million in debt payments to balance the books thrown into disarray by his tax cuts."
Kernen began his February 19 Squawk Box interview by telling the potential 2016 presidential candidate that "we've been together every step of the way on this show since your first election." He added, "I'm not going to recuse myself. But, you know, maybe [co-anchor] Andrew [Ross Sorkin] is here to grill you."
Kernen cheered Walker's economic and fiscal leadership. After Walker said he won his election because "in times of crisis, economic and fiscal in particular, they want leadership," Kernen said: "If there was an objective person watching the way the governor of Illinois approached that state's problems, and the way you approached it, I would think most reasonable people would say it looks like the way to do this maybe isn't just raising taxes to cover an ever increasing state budget."
Walker said, unchallenged, that Wisconsin's "tax burden is down, the economy is moving up, we've got a stable workforce, we've got all the sorts of advantages you want. And we're still -- plenty more work to be done, like it needs to be done across America, but there is a sharp contrast, no doubt about it."
In advance of the Federal Communications Commission's February vote on net neutrality rules, media have promoted distortions of the proposed regulations, suggesting net neutrality is an unpopular, "Orwellian" takeover of the internet that may stifle innovation, hurt the economy, and raise costs for consumers. In reality, net neutrality has broad bipartisan support, promotes competition, and has been the guiding principle behind Internet innovation since its inception.
This year saw landmark reports on climate change, detailing the ever-increasing scientific certainty that human activities are driving catastrophic climate change and that action needs to be taken to prevent the worst effects. Yet despite the fact that more Americans than ever support action on climate change, conservative media went to ridiculous lengths to cast doubt on the scientific consensus behind global warming, citing everything from free market economics to witchcraft, touting conspiracy theories and predictions of an "ice age," and even fulfilling Godwin's law.
Here are the 11 dumbest things conservative media said about climate change this year:
11. Bill O'Reilly: "It's Easier To Believe In A Benevolent God, The Baby Jesus" Than Manmade Climate Change. On the December 16 edition of Fox News' The O'Reilly Factor, Bill O'Reilly led a discussion on whether or not it is easier to believe in the birth story of Jesus than in manmade climate change, positing that it is "easier to believe in a benevolent God, the baby Jesus, than it is in some kind of theory about global warming." When his guest pointed out that 97 percent of climate scientists agree that human activities are driving global warming, O'Reilly baselessly countered, "I wouldn't put it that high. I've read a lot about it." He concluded: "[I]t's a choice -- people choose to believe."
Media figures are touting the Keystone XL pipeline as an "environmentally safe" alternative to truck and rail transportation, uncritically citing a State Department report on the environmental impact of building Keystone XL. But experts and subsequent studies have determined that the report is based on faulty conclusions and grossly underestimates greenhouse gas emissions caused by Keystone.
From the November 19 edition of CNBC's Squawk Box:
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Media are promoting Republican gains in the House and Senate in Tuesday's midterm elections as evidence that the country has shifted to the "center-right" on political issues, despite the fact that ballot initiatives and national polling reveal broad support for progressive positions.