From the June 21 edition of Fox News' Forbes on Fox:
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Fox News launched a new false attack on the Affordable Care Act's risk corridor provision, suggesting that the program which shuffles money between private insurance companies would cost taxpayers $5.5 billion.
On the March 5 edition of Fox's America's News HQ, co-host Greg Jarrett and Fox Business host David Asman promoted the GOP claim that the ACA's risk corridor provision is a "taxpayer funded bailout" for insurance companies, suggesting that an estimated $5.5 billion in payments over the next year contradicted President Obama's promise that there would be no more bailouts and that the ACA would not add to the deficit. Asman further claimed the administration is "calling it a temporary pool of money. Now maybe if you believe that Obamacare wasn't going to cost a dime, you'll buy that explanation. But most of the time when the government sends money in to that degree, into these companies, it doesn't get the money back":
The distortion that risk corridors are an insurance company bailout is a frequent theme on Fox, but this latest narrative is especially misleading. What the Fox hosts failed to acknowledge is that the estimated $5.5 billion payment doesn't come from taxpayers, but from the insurance companies themselves. The risk corridor provision transfers money from insurance companies with healthier risk pools to companies with less healthy risk pools with higher than anticipated costs.
While the federal government may be required to subsidize some of the payment in extreme circumstances, White House officials expect that the entire risk corridor cost over the next year will be borne by the insurance companies themselves. As Bloomberg reported:
Fox Business host David Asman baselessly speculated that health care reform's Medicaid expansion could bankrupt states, a prediction at odds with economic experts who have declared the expansion "a very favorable financial deal for states."
The Affordable Care Act allows states to expand Medicaid programs to provide coverage for people whose income falls below 138 percent of the federal poverty level. Initially, the federal government covers the full cost of new enrollees. After 2016, the federal government will continue to pay 90 percent of the program's cost.
On the December 11 edition of Fox News' America's News HQ, Asman warned that new Medicaid enrollees who became eligible for coverage due to the Affordable Care Act's would be covered at "an extraordinary extra cost to taxpayers." Asman went so far as to claim the cost could bankrupt states:
ASMAN: States are spending 30 - 40 percent of their entire budget on Medicaid. And as these more people sign on to Medicaid because of Obamacare, they're going to not only cost us taxpayers more money on the federal level, but they may make some states go bankrupt, because they won't be able to keep up with all those extra Medicaid patients.
Expanding Medicaid would not only not bankrupt states, according to the Center on Budget and Policy Priorities (CBPP), it "will add very little to what states would have spent on Medicaid without health reform." CBPP found that "Expanding Medicaid is thus a very favorable financial deal for states":
From the September 7 edition of Fox News' Forbes on Fox:
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Former Obama administration official Cass Sunstein writes that he received death threats and hate mail at his unlisted home address after Fox News launched a smear campaign against him. After Sunstein's nomination and confirmation in 2009, then-Fox host Glenn Beck attacked him and his work for years, invoking mass murderers, totalitarianism and conspiracy theories in conjunction with his name.
Sunstein served as Administrator of the White House Office of Information and Regulatory Affairs in the first Obama administration from September 2009 to August 2012.
As Mother Jones notes, Sunstein writes in his upcoming book, Simpler: The Future of Government, that Beck "developed what appeared to be a kind of an obsession with me." Sunstein compares Beck's attacks to the "Two Minutes Hate" from the classic novel 1984, where citizens were forced to watch films depicting enemies of the totalitarian party.
Sunstein also notes that he "began to receive a lot of hate mail, including death threats, at my unlisted home address. One of them stated, 'If I were you I would resign immediately. A well-paid individual, who is armed, knows where you live.'"
Conservative media have denigrated solar energy by denying its sustainability, ignoring its successes, and arguing the U.S. should simply cede the solar market to China. Yet this booming industry has made great strides, and with the right policies can become a major source of our power.
In contrast to official temperature records showing a consistent warming trend, Fox Business reporters have claimed that the "temperature basically hasn't changed much since the ice age" and that it's actually "getting colder." Fox News figures have also denied the scientific consensus that human activity is driving climate change, claiming that carbon dioxide "literally cannot cause global warming" and suggesting that "Mars wobbles" or "wind farms" may be causing it instead. Those are just some of the 10 dumbest things Fox News, Fox Business and their websites said about climate change in 2012:
1. Fox Reporter: "The Temperature Basically Hasn't Changed Much Since The Ice Age." During the Ice Age, much of North America, northern Europe and southern South America were covered with ice sheets. Natural climate cycles led to the end of the Ice Age tens of thousands of years ago. In the last century, temperatures have increased dramatically as a result of our massive emissions of greenhouse gases. Yet Fox Business reporter Tracy Byrnes claimed in March that "the temperature basically hasn't changed much since the Ice Age," before confusing global warming with the depletion of the ozone layer:
2. During Record-Breaking Heat, Fox Anchor Claims "It's Getting Colder." During the third warmest summer on record in the U.S., David Asman, who hosts shows on both Fox News and Fox Business, claimed "it's getting colder":
3. Fox "Expert": Carbon Dioxide "Literally Cannot Cause Global Warming." Joe Bastardi is a meteorologist that is often presented as a climate change expert on Fox News, even though he has no climate science training. Bill O'Reilly has cited Bastardi as the reason that he is "skeptical" about global warming, but scientists have called Bastardi's statements "completely wrong," "simply ignorant," and "utter nonsense." In March, Bastardi attempted to "throw out 150 years of physics" by dismissing the greenhouse effect -- the reason there is life on Earth -- as impossible. Bastardi stated on Fox Business that carbon dioxide (CO2) "literally" -- yes, literally -- "cannot cause global warming" because it doesn't "mix well in the atmosphere." But physicist Richard Muller told Media Matters that CO2 is actually "completely mixed."
4. Fox Reporter: "Mars Wobbles" May Be Causing Climate Change. Elizabeth MacDonald, a Fox Business reporter who often appears on Fox News, incorrectly said in November that "there's no consensus on what's causing climate change, and asked "is it solar flares? Is it the Mars wobbles? Is it the earth's axis tilting in a different way? I mean, that's the issue." After being subject to mockery, she tried to walk back her comments saying she doesn't "think Mars wobbles cause hurricanes," but did not explain her previous comments.
5. Fox Website: "Wind Farms Cause Global Warming." In April, a study found that nighttime temperatures in areas around Texas wind farms were higher than in areas without wind turbines. Fox Nation, a section of FoxNews.com, linked to a story about the study with a headline declaring that wind farms "cause global warming." But the study's authors called this coverage "misleading," explaining that it is "[v]ery likely" that "wind turbines do not create a net warming of the air and instead only re-distribute the air's heat near the surface, which is fundamentally different from the large-scale warming effect caused by increasing atmospheric concentrations of greenhouse gases."
Mitt Romney's remarks about the 47 percent of Americans who he said are "dependent upon government" echoed right-wing "makers vs. takers" rhetoric -- an argument that has been repeatedly promoted on Fox News.
As world leaders gather for the UN's Rio+20 Earth Summit this week in Brazil, Fox is taking the opportunity to once again deny the threat of climate change. Here's David Asman on Fox Business claiming "it's getting colder":
No. It's not.
Stuart Varney mocked the UK's Prince Charles for issuing a statement on the urgency of addressing climate change, arguing that he has no credibility on climate change because "he's not a scientist." But that's never stopped Fox.
Fox is again attempting to redefine fairness, this time by pushing the GOP-favored flat tax in the midst of debate over the Buffett Rule, which would set a minimum effective tax rate for millionaires. The flat tax is a plan Republicans have been trying to establish as far back as the 1990s.
Following the release of President Obama's tax returns, Fox jumpstarted its push for the flat tax, insisting that it would be a fairer tax system. But this is just the latest attempt by Fox to redefine "fairness" as a tax system that experts contend is designed to favor wealthier taxpayers.
Prior to an interview with Romney campaign adviser Eric Fehrnstrom, "straight news" anchor, Martha MacCallum asked her Twitter followers, "Should Mitt Romney go further with tax reform?" She then added: "Flat tax anyone?"
From the April 16 edition of Fox News' Happening Now:
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From the March 27 edition of the Fox Business Network's Varney & Co.:
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Things are not going so well for the Fox Business Network. The network, which mostly seemed to function during primetime as the Fox News Channel's cover band, announced the cancelation of its entire primetime lineup yesterday: Power and Money with David Asman, Freedom Watch with Andrew Napolitano, and Follow The Money with Eric Bolling. For anyone that has been paying attention to the network's recent struggles, the news is not surprising.
Last October, Reuters reported on a memo sent by Fox Business Network executive vice president Kevin Magee to Fox Business staff imploring everyone at the network to stop trying to emulate Fox News Channel. In the memo, which Magee sent after meeting with Fox News CEO Roger Ailes, Magee told his staff that he had "been asked to remind you all again that they are separate channels and the more we make FBN look like FNC the more of a disservice we do to ourselves."
Indeed, at that point it was difficult to differentiate between FBN and FNC. The channels featured the same rotating cast of contributors and hosts, and FBN, though it did report on business news, seemed far more interested in the Fox News routine of tearing down Obama and Democrats. It was not uncommon to turn on the channel and see David Asman or Eric Bolling covering stories not even tangentially connected to business, like conspiracies about President Obama's birth certificate.
Conservative media have misrepresented the results of Chevy Volt crash tests, claiming the batteries "blow up" and are a "fire trap," and suggesting that fires have occurred spontaneously during use. In fact, fires only occurred after crash tests and regulators concluded an inquiry after finding that Volts are just as safe as conventional cars.
Tonight on Fox Business' Power And Money, David Asman hosted Joe Petrowski, President and CEO of Gulf Oil LP, to claim that because President Obama has decided not to immediately build the Keystone XL (KXL) pipeline and pursue additional domestic oil production, gas prices will increase as early as "the summer." Petrowski specifically asserted that building the pipeline could reduce gas prices in the long term by as much as "20 to 30 cents a gallon."
However, according to researchers at the Cornell University Global Labor Institute, TransCanada, the proposed manufacturers of the pipeline, admitted that "KXL will increase the price of heavy crude oil in the Midwest by almost $2 to $4 billion annually." The Cornell study explains that this will happen as a result of "diverting major volumes of Tar Sands oil now supplying the Midwest refineries, so it can be sold at higher prices to the Gulf Coast and export markets."
Fox expects us to take Petrowski at his word when he claims that building KXL could result in gas prices dropping "20 to 30 cents a gallon"; indeed, Asman responds to his claim by saying that the Gulf executive is "on the retail side of the gas business, so you know" how gas prices come about.
But the Cornell University study estimates nearly the exact opposite of Petrowski's claim, estimating that building the KXL pipeline could increase domestic gas and diesel fuel prices in some states by between "10 to 20 cents more per gallon" and, to rub salt on the wound, possibly "cancel out some or all of the jobs created by KXL" after only one year of increased fuel prices. From the study:
HIGHER FUEL PRICES IN 15 STATES
According to TransCanada, KXL will increase the price of heavy crude oil in the Midwest by almost $2 to $4 billion annually, and escalating for several years. It will do this by diverting major volumes of Tar Sands oil now supplying the Midwest refineries, so it can be sold at higher prices to the Gulf Coast and export markets. As a result, consumers in the Midwest could be paying 10 to 20 cents more per gallon for gasoline and diesel fuel, adding up to $5 billion to the annual US fuel bill. Further, the KXL pipeline will do nothing to insulate the US from oil price volatility.
Even one year of fuel price increases as a result of KXL could cancel out some or all of the jobs created by KXL, based on the (more accurate) $3 to 4 billion budget for KXL (the remaining cost to build within the Us). Higher fuel prices due to KXL would have broad adverse impacts. Gasoline is a significant cost for most Americans, and especially for those with lower incomes and/or residing in rural areas. Moreover, refined oil products (notably gasoline and diesel) are very widely used throughout the economy (especially in agriculture and commercial transportation). So higher fuel prices due to KXL would ripple through the economy and impact a very broad range of people and businesses.