Stephen Moore

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  • Right-Wing Economist Steve Moore Pushes Trump Tax Plan In Hypocritical USA Today Op-Ed

    Blog ››› ››› ALEX MORASH

    Conservative economist Stephen Moore lambasted President Obama’s performance on the economy -- claiming the Obama administration accumulated too much debt and generated too little economic growth -- in an op-ed championing Donald Trump’s plan to cut taxes for the wealthy and corporations, which will drive up even more debt and is virtually guaranteed not to grow the economy.

    Moore claimed in a May 10 op-ed published by USA Today that Donald Trump's tax plan is "designed to supercharge growth" and break with years of supposedly lackluster "Obamanomics." He chided Obama for presiding over "the weakest economic recovery in 75 years" and accumulating "almost $8 trillion" in national debt, even though the annual deficit has actually been decreasing since 2011, the unemployment rate has been cut in half since the president’s first year in office, and the economy has created 14.2 million jobs since the labor market bottomed out in early 2010. From USA Today:

    It’s no mystery why. Obamanomics has given us the weakest economic recovery in 75 years. Wages are flat or falling for all but those in the top 10%. And our national debt has risen by almost $8 trillion in seven years.


    The Trump tax plan is designed to supercharge growth, much like President Kennedy did in the 1960s and President Reagan did in the boom years of the 1980s with their tax reductions.


    The biggest deficit we need to urgently fix is our growth deficit. We must pump up our GDP growth from the anemic 1% rate of Obama’s past six months up to a sustained 4% under Trump. Just 2% faster growth reduces our budget deficit over a decade by more than $5 trillion.

    Liberal economists pout that this growth is impossible for America, but that’s what people said in the miserable 1970s. Reagan (and JFK before him) proved that with the right policy incentives that get government off the back of business, a new era of prosperity is just around the corner.

    Moore advocated for Trump’s tax plan as an alternative to Obama’s economic record, a plan that even the most generous estimates show will produce larger budget deficits and greater debt accumulation than witnessed during the Obama administration. The nonpartisan Tax Policy Center (TPC) and the conservative Tax Foundation each scored Trump’s tax plan and found that it would explode the deficit by $9 to $12 trillion over the next decade, on top of $9.4 trillion in projected deficits at current spending levels. The Tax Foundation’s analysis further claimed that Trump’s tax plan would boost investment and wage growth while creating up to 5.3 million new jobs, but those figures come from a so-called “dynamic” scoring model that has been criticized for overestimating the stimulative value of tax cuts.

    Moore’s claim that Trump’s tax plan would create 4 percent economic growth is reminiscent of claims by failed Republican presidential candidate Jeb Bush, which experts quickly dismissed as “nonsense” and “wizardry.” According to a September 2014 report from the Brookings Institution, tax cuts do not necessarily create economic growth and they can even discourage growth by undermining economic incentives to invest. A September 2012 report from the Congressional Research Service (CRS), which was suppressed by Senate Republicans, similarly found no correlation between tax cuts and economic growth, but it did caution that tax cuts for high-income individuals “appear to be associated” with rising inequality.

    Moore has a long and well-documented history of distorting facts on the economy. Nobel Prize-winning economist and New York Times columnist Paul Krugman, who has spent years documenting Moore's repeated failures in economic policy, recently slammed the right-wing commentator’s "impressive lack of even minimal technical competence."

  • What Media Need To Know About Trump Economic Policy Advisers Steve Moore And Larry Kudlow


    Politico reported that Donald Trump is tapping conservative economic pundits Stephen Moore and Larry Kudlow to assist in remaking the presumptive Republican nominee’s tax plan, which has been lambasted as a budget-busting giveaway to high-income earners and corporations. Media should be aware that both Moore and Kudlow have long histories of playing fast and loose with the facts while making outlandish and incorrect claims about the economy.

  • Jonah Goldberg Furious After Two National Review Colleagues Endorse Trump

    Right-Wing Economic Policy Darlings Larry Kudlow And Stephen Moore Are Regular Contributors To National Review

    Blog ››› ››› CRAIG HARRINGTON

    Moore and Kudlow

    National Review senior editor Jonah Goldberg berated two right-wing economic policy figureheads -- Stephen Moore and Larry Kudlow -- for what Goldberg saw as their abandonment of conservative principles by supporting Donald Trump's presidential candidacy. Both men have written extensively for National Review Online (NRO) promoting the conservative movement's economic agenda, with Kudlow acting as a contributing editor for the publication.

    The right-wing media civil war was on full display on March 9 when Goldberg attacked Heritage Foundation economist Stephen Moore and CNBC senior contributor Larry Kudlow for endorsing Trump, despite the Republican front-runner's lack of apparent conservative policy bona fides. Goldberg argued that Moore and Kudlow had abandoned conservative purity by endorsing "winning at any cost," and that Trump's policies are a "populist deformation of conservatism." Goldberg's decision to target Moore and Kudlow for their embrace of Trump is particularly interesting given how much the two men have contributed to National Review and National Review Online over the years.

    Moore's regular publication history with the outlet dates back to 2003, when he was an ardent champion of the Bush administration's tax cuts, and picked up steam in 2014 when he used NRO to promote Republican talking points on tax and regulatory policy, the federal budget and deficit, and the minimum wage. Kudlow's ties to the outlet where he serves as both a contributing editor (in print) and a columnist and economics editor (online) are even more extensive, dating to 1999.

    Goldberg may be targeting Moore and Kudlow for apostasy now, but they have been boosting Trump for some time now -- weeks in the case of Moore, and months for Kudlow. Moore praised Trump in a February 11 column for The American Spectator, suggesting he could "expand the Republican base to include independents and union Democratic voters" and claimed that "Trump is the anti-Obama in every way ... . Trump emanates love for America and pledged to 'make America great again.'" CNBC contributer James Pethokoukis also listed Moore as part of Trump's "council of wise men" on February 22. Goldberg wrote that Kudlow "has moved markedly in Trump's direction" on policy, and Kudlow also expressed his support for Trump's tax plan in September when it was released.

    In January, the National Review launched a conservative war on Trump with a dedicated "Against Trump" issue, referring to him as a "philosophically unmoored political opportunist." Goldberg's March 9 article berating Moore and Kudlow is just another barrage in the right-wing media civil war over Trump (emphasis added):

    In 2009, then-senator Jim DeMint declared he'd rather have 30 reliable conservatives in the Senate than 60 unreliable ones. Ted Cruz launched his presidential campaign on the premise that deviation from pure conservatism cost Republicans the 2012 election. The only way to win was to refuse to compromise and instead give voters a clear choice. Many of the right's most vocal ideological enforcers cheered him on.

    Until Trump started winning. Suddenly, the emphasis wasn't on winning through purer conservatism but on winning at any cost.

    Consider Larry Kudlow and Stephen Moore. In August, the two legendarily libertarian-minded economists attacked Trump, focusing on what they called Trump's "Fortress America platform." His trade policies threaten the global economic order, they warned. "We can't help wondering whether the recent panic in world financial markets is in part a result of the Trump assault on free trade," they mused. As for Trump's immigration policies, they could "hardly be further from the Reagan vision of America as a 'shining city on a hill.'"

    Months later, as Trump rose in the polls, Kudlow and Moore joined the ranks of Trump's biggest boosters -- and not because Trump changed his views. On the contrary, Kudlow has moved markedly in Trump's direction. He now argues that the borders must be sealed and all visas canceled. He also thinks we have to crack down on China.


    Instead of converting voters to conservatism, Trump is succeeding at converting conservatives to statism on everything from health care and entitlements to trade.

  • What The Media Should Know About Trump's "Political Kitchen Cabinet"

    ››› ››› BRENNAN SUEN

    Republican presidential front-runner Donald Trump and his campaign have reportedly received advice from an increasing number of controversial Republican figures and political strategists, including former New York Mayor Rudy Giuliani, political strategist Roger Stone, and former Secretary of Education William J. Bennett. Various members of this "political kitchen cabinet" have launched sexist attacks against Hillary Clinton, claimed Obama does not love America, and denied the science of climate change.

  • Watch Fox Business' Stuart Varney Claim Strong November Job Creation Is "Mediocre"

    Even Fox News Called The November Employment Figures A "Significant" Sign Of Economic Improvement

    Blog ››› ››› ALEX MORASH

    Fox Business' Varney & Co. was virtually alone in criticizing the Bureau of Labor Statistics' (BLS) monthly jobs report for November 2015, which host Stuart Varney called "mediocre." Nearly every other media outlet, including Fox News Channel, reported that continued monthly job creation and stable unemployment levels stood as proof that the economy is strengthening.

    On the December 4 edition of Varney & Co., Varney invited former Bush administration Labor Department official Paul Conway to discuss the BLS' monthly jobs report for November. Varney claimed that the creation of 211,000 jobs in November was "mediocre," and Conway added that the U.S. economy is "aggressively sustaining mediocrity." In addition to downplaying the strong monthly job creation figure, neither Varney nor Conway mentioned that the jobs figure beat expectations by 11,000, or that the BLS upwardly-revised positive job creation figures from September and October by an additional 35,000.

    Other media outlets took a much different approach to the November report. CNN's New Day called the report "good news," pointing to "strong job growth" as evidence of an "improving economy." The New York Times called the numbers "robust" and included a chart illustrating how the unemployment rate has steadily improved over the last three years:

    Steadily Improving Unemployment Since Obama's Re-election

    The harsh jobs report criticism on Varney & Co. is perplexing, because Varney and Conway's statements came less than an hour after conservative economist Steve Moore called the November report "a good number," adding "everything I just heard I like a lot," on Fox Business' Mornings with Maria. The misleading criticism also came just minutes after Fox co-host Martha MacCallum and Fox Business correspondent Liz Claman discussed how "significant" the monthly figures were as proof of the strength of the overall economy on Fox News' America's Newsroom.

    Fox personalities have a long history of downplaying the significance of positive employment figures. On the November 6 edition of Fox & Friends, co-hosts Elisabeth Hasselbeck and Steve Doocy stumbled through a brief segment on BLS' October jobs report, which The Washington Post called "stellar," complaining that the economy created "only 271,000 jobs."

    See the full segment from Varney & Co. below:

    STUART VARNEY (HOST): I want to get to the jobs report. Not spectacular. I repeat, I think it's mediocre, 211,000 new jobs. Come on in Paul Conway, our Labor Department bulldog, if you don't mind me calling you that. You never call this a strong recovery. Are you sticking with that analysis after that number, 211,000 jobs?

    PAUL CONWAY: I am. I mean context is important, so let's take a look at last year. The average growth last year per month for jobs was 260,000. So, 211,000, I think what we're doing is aggressively sustaining mediocrity. And I think it's important because I just don't think that those numbers are the ones that are required -- in the quality of jobs -- to pull people off the sidelines. This month, professional services are down. Manufacturing is down. We like the fact that construction is up. And health care, but you really need sustained growth across all sectors to bring more people in. That's something that Janet Yellen, I don't think, is on message with this week.

    VARNEY: Comment please on what's called the U-6 number, which is often called the "real unemployment rate." It went up to 9.9 percent. The significance, please?

    CONWAY: Sometimes you will see an uptick in unemployment numbers if more people are trying to join the workforce. But in this case, if you take a look back over the past many months, I still think that that number is a very disturbing number when you add it in with the labor force participation rate. Because basically what you're saying is, you've got millions of Americans in jobs where they want to work full-time and they can't, and millions of Americans who are working in part-time jobs who are just doing that to pay bills, and waiting for something to come up that aligns with talent and their education.

    VARNEY: Alright, Paul Conway. Thank you very much indeed.

  • NASA Scientist Warned Deniers Would Distort His Antarctic Ice Study -- That's Exactly What They Did

    ››› ››› DENISE ROBBINS

    A new NASA study found that there has been a net increase in land ice in Antarctica in recent years, despite a decline in some parts of the continent. The study's lead author astutely predicted that climate science deniers would distort the study, even though it does nothing to contradict the scientific consensus on climate change or the fact that sea levels will continue to rise.

  • Myths And Facts About The College Debt Crisis

    ››› ››› PAM VOGEL

    As the nation's student loan debt burden continues to grow and voters look to 2016 presidential candidates for solutions, right-wing media continue to perpetuate debunked myths about college costs, financial aid, and student loans. Here are the facts that conservative media outlets ignore.

  • Fox's Stephen Moore Preemptively Debunked On Clean Energy By Video Affixed To His Column

    Blog ››› ››› ANDREW SEIFTER

    Stephen Moore Clean Energy Video

    Fox News contributor Stephen Moore declared in a May 10 column that "[t]he green energy movement in America is dead," but a video airing directly above Moore's column on The Washington Times website makes clear that his characterization of the U.S. clean energy industry is blatantly false.

    The video read from an April 27 article by Environment & Energy Publishing's ClimateWire titled "Strong Future Forecast for Renewable Energy," which pointed out that the U.S. Energy Information Administration (EIA) "forecasts renewable energy will be the fastest-growing power source through 2040." The video (and ClimateWire article) also noted that an analysis by Bloomberg New Energy Finance shows "[n]ew investments in renewable energy rose from $9 billion in the first quarter of 2004 to $50 billion for 2015's first quarter," and that "the volume of installed photovoltaic systems in the United States has grown every year since 2000."

  • Fox Economist Proposes Energy Plan That Would Increase Terrorism

    Blog ››› ››› SOPHIA TESFAYE

    Fox News contributor Steve Moore dismissed President Obama's U.N. address on climate change arguing that terror threats are "a security reason for the United States to develop our own oil and gas," ignoring a decade of warnings from the U.S. military calling climate change a national security threat and a terrorism threat multiplier. 

    On September 23, President Obama spoke at the United Nations Climate Summit calling for a more "ambitious" agreement to tackle climate change globally.

    During the September 23 edition of Happening Now, Fox contributor Steve Moore complained that "the president is talking about climate change and reducing our output of oil and gas, when if we want to undermine and destroy the finances of ISIS and other terrorist networks, we should produce as much oil and gas and hurt them in the pocketbook":

    But Moore's recommendations only serve to increase the threat of climate change by increasing our dependence on fossil fuels and undermining United States energy security. A report from the Energy Security Leadership Council determined that the addressing "the economy's heavy reliance on petroleum" is the key challenge for achieving energy security in the U.S.

    Military officials have also warned of the negative impact of climate change since 2003. Most recently, the U.S. Department of Defense released the 2014 version of their Quadrennial Defense Review (QDR) highlighting that "climate change poses another significant challenge for the United States and the world at large" and that its impacts are "threat multipliers" that "can enable terrorist activity." From the Review:

    The impacts of climate change may increase the frequency, scale, and complexity of future missions, including defense support to civil authorities, while at the same time undermining the capacity of our domestic installations to support training activities. 


    The pressures caused by climate change will influence resource competition while placing additional burdens on economies, societies, and governance institutions around the world. These effects are threat multipliers that will aggravate stressors abroad such as poverty, environmental degradation, political instability, and social tensions - conditions that can enable terrorist activity and other forms of violence.

    Moore, the Heritage Foundation's chief economist, also ignored a first of its kind statement from U.S. Treasury Secretary, Jack Lew, in which he labeled the threat of climate change as "one of the most important challenges of our time." Lew said during a September 22 interview on the economic costs of climate change, that "the economic cost of climate change is not limited to one sector of our economy. It threatens our agricultural productivity, our transportation infrastructure and power grids, and drives up the incidence of costly healthcare problems." Lew stressed that "global action is imperative, and it is a good investment in global economic growth."

  • Fox's Favorite Economist Has A New Bogus Calculation

    Stephen Moore Over-Estimates Cost Of Educating Unaccompanied Minors By Almost Half A Billion Dollars

    Blog ››› ››› CRAIG HARRINGTON

    Heritage Foundation chief economist Stephen Moore grossly exaggerated the cost of providing unaccompanied minors access to American public education to stoke fears that the costs might hurt local communities.

    On the August 7 edition of Fox News' Your World, host Neil Cavuto invited conservative economist Stephen Moore to discuss the purportedly high cost of allowing roughly 50,000 unaccompanied minors access to public schools around the country. Citing his own calculations, Moore claimed that the cost of educating these immigrant children could reach $1 billion annually, adding that "it's unfair to put these costs on the backs of local residents ":

    Moore's calculation is problematic for a number of reasons.

    According to research from the Heritage Foundation, Moore's current employer, the cost of educating a single undocumented immigrant child is roughly $12,300 per year. Therefore, the cost of educating the roughly 50,000 recent undocumented minors in the U.S. would actually be roughly $615 million per year, according to Heritage's estimates.

    Furthermore, Moore's fear mongering over the purported $1 billion price tag ignores the size and scope of the American economy. According to the Bureau of Economic Analysis (BEA), the current dollar value of the American economy in the second quarter of 2014 was $17.3 trillion. In other words, the cost to educate these children would be less than 0.006 percent of the value of the economy as a whole. Hardly cause for alarm.

    Moore's sloppy calculations have gotten him into trouble in the past, as he employs a façade of "economics" to disguise his conservative political agenda.

  • Conservative Media's Favorite Economist Caught Distorting Facts About Taxes And Job Creation

    Blog ››› ››› CRAIG HARRINGTON

    Heritage Foundation Chief Economist Stephen Moore

    Heritage Foundation chief economist Stephen Moore was caught using incorrect statistics to mislead readers about the relationship between tax cuts and job creation in the United States.

    On July 7, Moore published an op-ed in The Kansas City Star attacking economic policies favored by Nobel Prize-winning economist Paul Krugman. The op-ed claimed that "places such as New York, Massachusetts, Illinois and California ... are getting clobbered by tax-cutting states." Moore went on to attack liberals for "cherry-picking a few events" in their arguments against major tax cuts, when in fact it was Moore who cited bad data to support his claims.

    On July 24, The Kansas City Star published a correction to Moore's op-ed, specifically stating that the author had "misstated job growth rates for four states and the time period covered." The editorial board of the Star inserted this annotation to Moore's inaccurate claims:

    Please see editor's note at the top of this column. No-income-tax Texas gained 1 million jobs over the last five years, California, with its 13 percent tax rate, managed to lose jobs. Oops. Florida gained hundreds of thousands of jobs while New York lost jobs. NOTE: These figures are incorrect. The time period covered was December 2007 to December 2012. Over that time, Texas gained 497,400 jobs, California lost 491,200, Florida lost 461,500 and New York gained 75,900. Oops. Illinois raised taxes more than any other state over the last five years and its credit rating is the second lowest of all the states, below that of Kansas! (emphasis original)

    On July 25, Star columnist Yael Abouhalkah explained the correction in more detail. Abouhalkah wrote that Moore had "used outdated and inaccurate job growth information at a key point in his article" and that Moore should have used data from 2009 to 2014, rather than from 2007 to 2012. Abouhalkah also argued that "the problems with Moore's opinion article damaged his credibility on the jobs issue."

    Moore's credibility on "the jobs issue" is not the only troubling aspect of his economic punditry. Moore was recently brought on as the chief economist at the conservative Heritage Foundation after serving for many years on the right-wing editorial board of The Wall Street Journal and as a go-to economic commentator on Fox News. Moore has a history of disparaging reasonable economic policies in favor of fiscally irresponsible tax cuts for the wealthy and painful spending cuts to vital programs.

    Moore has referred to unemployment insurance as a "paid vacation" for jobless Americans and bizarrely claimed that laws guaranteeing paid sick leave for full-time workers were "very dangerous for cities." Moore spent years basely claiming that the Affordable Care Act would reduce job creation, seamlessly transitioning from one debunked talking point to the next along the way. He is also an outspoken opponent of increasing the minimum wage, claiming that even a moderate rise in wages would result in a "big increase" in unemployment. In a recent foray out of the safety of right-wing media, Moore's anti-living wage spin was easily cut down by CNN anchor Carol Costello.

    The original intent of Moore's Star op-ed was to garner support for tax cuts enacted over the past two years by Gov. Sam Brownback (R-KS), which The New York Times and other outlets have labeled "ruinous." The tax cuts have been such a dramatic failure that more than 100 members of the Kansas Republican Party have sworn to help replace Brownback with a Democrat willing to reinstate taxes and spending at their previous levels.

  • Fox News Distorts Bill Clinton's Comments On Internet Oversight Authority To Attack Obama

    Blog ››› ››› THOMAS BISHOP

    Fox News cherry-picked comments made by former President Bill Clinton on his questions regarding the Commerce Department's plan to transition internet domain name management to an international body. But the plan is based on principles that echo Clinton's remarks.

    In a March 14 press release, the Commerce Department's National Telecommunications & Information Administration (NTIA), an Executive Branch agency that advises the President on telecommunications and information policy issues, announced the administration's plan to transition internet domain name functions:

    To support and enhance the multi-stakeholder model of Internet policymaking and governance, the U.S. Commerce Department's National Telecommunications and Information Administration (NTIA) today announces its intent to transition key Internet domain name functions to the global multi-stakeholder community. 


    From the inception of ICANN, the U.S. Government and Internet stakeholders envisioned that the U.S. role in the IANA functions would be temporary.  The Commerce Department's June 10, 1998 Statement of Policy stated that the U.S. Government "is committed to a transition that will allow the private sector to take leadership for DNS management." 

    On the March 24 edition of America's News HQ, co-host Bill Hemmer claimed that during a Clinton Global Initiative summit, Clinton spoke "out against U.S. plans to hand over control of the internet" to countries like Russia and China:

    CLINTON: The United States has been by far the country most committed to keeping the internet free and open and uninterrupted. And a lot of these people who say they want multi-stakeholder control over domain names and internet access, what they really do is want the ability to shut down inconvenient exchanges within their own countries.

    Clinton went on to ask Wikipedia co-founder Jimmy Wales whether he is worried "that if we give up this domain jurisdiction that we've had for all these years that we'll lose internet freedom."

    But Fox left out a key portion of Clinton's comments where he explained the he favors the multi-stakeholder process in general:

  • Watch This CNN Anchor Stop The Spin On The Minimum Wage

    Blog ››› ››› CRAIG HARRINGTON

    CNN's Carol Costello shot down conservative talking points disparaging the minimum wage, correctly noting that raising it would increase incomes and decrease poverty.

    On February 18, the non-partisan Congressional Budget Office (CBO) released estimates of the economic impacts of proposals to lift the minimum wage to $9.00 and $10.10, respectively. Among the report's summary conclusions was the revelation that the $10.10 option would raise the wages of 16.5 million workers while lifting up to 900,000 Americans out of poverty. Ignoring these positive side-effects, conservative media have focused heavily on estimates that increasing the minimum wage to such levels could reduce full-time employment by approximately 0.3 percent, the equivalent of roughly 500,000 positions.

    On the February 19 edition of CNN Newsroom, host Costello was joined by Wall Street Journal editorial board member and Heritage Foundation chief economist Stephen Moore to discuss the CBO report. Moore, a prominent right-wing media figure, rehearsed standard talking points about the alleged disastrous impacts of increasing the minimum wage for low-skilled and entry-level workers.

    Despite Moore's efforts, Costello checked his spin at every turn, continually pointing to the positive impacts of increasing the minimum wage.

    Costello's strong reporting highlights the important role of media in sifting through misinformation to present unbiased results. While the median estimate of a $10.10 per hour minimum wage was decreased full-time employment, the CBO's projection also concludes that job loss could be "very slight" -- a fact highlighted by Costello. She also noted the positive income effects of increasing the federal minimum wage -- effects that are being ignored in media coverage of the CBO report -- and argued that many Americans would accept marginal job loss in exchange for lifting hundreds of thousands more out of poverty.

    Costello's coverage of the minimum wage hopefully reflects a mainstream media trend of actually analyzing policy news, rather than allowing right-wing media to spin the narrative.