Economy

Issues ››› Economy
  • Journalists, Experts Agree Trump's Tax Reform Agenda Will Be Even Harder Than Repealing Obamacare

    ››› ››› ALEX MORASH & CRAIG HARRINGTON

    After President Donald Trump and Speaker of the House Paul Ryan (R-WI) failed to garner enough support to pass legislation that would repeal and replace the Affordable Care Act (ACA), Trump declared he had moved on to refocus his legislative priorities on tax reform. In light of Trump’s inability to get the Republican-led Congress to vote with him on health care changes, which had been a major campaign promise of virtually every elected GOP official, journalists and experts are beginning to question if Trump is capable of wrangling his caucus to tackle substantive conservative tax reform proposals that have been stagnant for decades.

  • How Conservatives Smeared Obamacare And Laid The Groundwork For Trumpcare

    ››› ››› JULIE ALDERMAN

    For over seven years, right-wing media have launched an assault on the Affordable Care Act (ACA) -- a law that has yielded great gains in the economy and public health, especially for the most vulnerable -- pushing multiple myths and false claims about the law. On the law’s seventh anniversary, Republicans hoped to repeal the ACA and pass the American Health Care Act (AHCA), which contains a wish list of harmful conservative media-backed policies.

  • TV News Coverage Of Trump’s Policies Overwhelmed By His Wiretapping Lie

    Blog ››› ››› ALEX MORASH

    Broadcast and cable news coverage of ruinous economic policies rolled out by the White House last week was overwhelmed by the president’s false accusation that his predecessor illegally wiretapped Trump Tower during the 2016 election.

    On March 13, the Congressional Budget Office (CBO) reported that up to 24 million Americans would lose access to health insurance over the next 10 years if the Republican plan to repeal and replace Obamacare goes into effect. On that same day, the Trump administration unveiled an overlooked executive order that encourages cabinet secretaries and agency directors to create a plan to completely reshape a federal bureaucracy of over 2.8 million employees. And on March 16, the Trump administration unveiled its budget outline for the 2018 fiscal year, featuring proposed “massive cuts” to nondefense spending. The proposed cuts, which would offset an increase in spending on military programs and a border wall, would hit almost every facet of the federal government, but they would come down particularly hard on funding for small programs including Meals on Wheels, the Corporation for Public Broadcasting, and PBS.

    Yet according to Media Matters research, from March 13 to 17, President Donald Trump’s false wiretap claim dominated TV news coverage, overshadowing discussion of these important policy moves. While Trump’s lie certainly merits extensive media coverage, it’s also crucial to share details of his policymaking with the public.

    Trump ignited a media firestorm in early March when he repeatedly accused former President Barack Obama of illegally wiretapping him in the midst of last year's election. Right-wing media, led by Fox News, sprang to his defense even though the president offered no evidence to support his claim. Meanwhile, legitimate reporters exposed the bizarre accusation’s source as “the right-wing fever swamps” of fringe media and reported that it was pushed by a Russian state-sponsored news network. During March 20 testimony before the House Intelligence Committee, FBI Director James Comey put Trump’s wiretapping lie to rest, telling the committee, “I have no information that supports those tweets.”

    Yet nearly two weeks after Trump initially made the claim, his smear of Obama still had such an influence on television news coverage that it overshadowed every other discussion about Trump’s policy agenda last week. Media Matters identified 226 segments from March 13 through 17 that focused on Trump during evening programming on CNN, Fox News, and MSNBC and major news programs on ABC, CBS, NBC, and PBS. Of those segments, 64 focused on Trump’s wiretapping allegations -- a figure that dwarfed every other major issue Media Matters identified. Coverage of Trump’s health care plan came in a distant second place, with 37 segments, and stories related to the portion of Trump’s 2005 tax returns obtained by Rachel Maddow ranked third (26 segments). Trump’s proposed budget outline was discussed in just 14 segments, and his executive order to reshape the federal workforce registered just four mentions.

    With television news forced to dissect and debunk Trump’s outrageous claims, coverage of pressing economic issues was eclipsed. Coverage of the efforts to repeal the Affordable Care Act -- which health care experts have said would be particularly harmful to low-income Americans, seniors, and people dealing with illnesses -- could not overtake that of Trump’s wiretapping tweet, even with the Trump administration attempting to smear the CBO numbers in the press. The executive order, which was described by CNN reporter Stephen Collinson as part of Trump’s larger goal to “dismember government one dollar at a time,” barely registered in news coverage at all. And Trump’s budget cuts, which would decimate social safety net programs, were discussed 14 times during evening news coverage on March 16 and 17, while Trump’s lie about wiretapping was discussed 35 times on those two days.

    Trump’s promotion of a discredited lie accusing his predecessor of illegal conduct while in office merits extensive media coverage, but the policies he has enacted or plans to enact can be just as destructive as the misinformation he spreads. Media cannot afford to let Trump's misleading claims dominate the news cycle, drowning out crucial coverage of the pain his policies may cause the United States.

    Methodology

    Media Matters conducted a Nexis search of transcripts of evening news programming (defined as 6 p.m. through 11 p.m.) on CNN, Fox News, and MSNBC, as well as the major news programs on ABC, CBS, NBC and PBS, from March 13, 2017, through March 17, 2017. We identified and reviewed all segments that included any of the following keywords: Trump or executive order or federal government or federal employ! or federal worker or federal workers or civil service or government workers or government worker or federal government or budget.

    The following programs were included in the data: ABC's World News Tonight, CBS' Evening News, NBC's Nightly News, and PBS' NewsHour, as well as CNN's The Situation Room, Erin Burnett OutFront, Anderson Cooper 360, and CNN Tonight, Fox News' Special Report, The First 100 Days, Tucker Carlson Tonight, The O'Reilly Factor, and Hannity, and MSNBC's For The Record, Hardball, All In with Chris Hayes, The Rachel Maddow Show, and The Last Word With Lawrence O'Donnell. For shows that air reruns, only the first airing was included in data retrieval. This survey includes CNN’s second live hour of Anderson Cooper 360 during the 9 p.m. to 10 p.m. time slot.

    For this study, Media Matters included only those segments that contained substantial discussions of Donald Trump. We defined a "substantial discussion" as any segment where a host dedicates a monologue, or portion of a monologue, to Trump, his activities, or the policies he is pursuing as president of the United States, or any segment where two or more guests discuss Trump, his activities, or the policies he is pursuing as president of the United States. We did not include teasers or clips of news events, or rebroadcasts of news packages that were already counted when they first aired in the 6 p.m. to 11 p.m. survey window.

  • Will Fox News Finally Take The Debt Ceiling Seriously?

    Fox Spent Years Urging Republicans To Default On The National Debt To Hurt President Obama

    ››› ››› CRAIG HARRINGTON & ALEX MORASH

    Since Republicans took control of the House of Representatives in 2011, Fox News personalities have urged them to use the threat of defaulting on the sovereign debt obligations of the United States government as a means of winning political concessions. With Republicans now in full control of Congress, will the talking heads at Fox finally come to terms with this monumental threat to the global economy and urge the GOP to raise the debt ceiling?

  • Experts And Media Observers Stunned By Trump’s Budget Proposal

    ››› ››› CRAIG HARRINGTON

    Economic policy experts, advocacy groups, and media outlets scrambled to respond to President Donald Trump’s budget proposal for the 2018 fiscal year, which includes $54 billion in new defense spending to be offset by dramatic cuts to the entire non-defense discretionary budget. Many observers were quick to point out that the president’s so-called “America First” budget will worsen the suffering of at-risk communities, including many low-income regions that supported his election and are kept afloat economically by federal spending programs.

  • Trump Rewards O'Reilly Minion Who Previously Aired Racist And Misogynist Reports

    ››› ››› ZACHARY PLEAT & CRISTINA LóPEZ G.

    Fox News host Jesse Watters will interview President Donald Trump for his show Watters World. Watters, who originally appeared on Fox as a correspondent for The O’Reilly Factor, has a track record of disparaging segments about immigrants, women, Asian-Americans and African-Americans. He has also produced reports in which he shamed homeless Americans, mocked members of the LGBTQ community, and “followed, harassed, and ambushed” a journalist.

  • Will Fox Continue Its CBO Smear Campaign With More White House Talking Points?

    Fox News Spent Days Attempting To Discredit The CBO In Advance Of Its Report Outlining That Millions Will Lose Health Insurance Under GOP Plan

    Blog ››› ››› ALEX MORASH

    Fox News pushed White House talking points attacking the Congressional Budget Office (CBO) in an attempt to discredit the nonpartisan scorekeeper before it released today’s report projecting the effects of the Republican plan to repeal Obamacare -- the American Health Care Act (AHCA). The report’s devastating findings -- that up to 24 million people would lose their health insurance coverage over the next decade under the GOP health care plan -- are now public. Will Fox News continue to borrow White House talking points to carry water for the disastrous plan?

    On March 13, the CBO reported that the number of Americans without health insurance would grow to a staggering 52 million people by 2026 under the GOP’s health care plan, AHCA, compared to an estimated 28 million who are projected to remain uninsured under current law. President Donald Trump’s administration and Republican leaders in Congress had tried to smear the CBO -- the nonpartisan research arm of Congress tasked with analysing the budgetary and economic impacts of legislative proposals -- in advance of the widely anticipated report, which many correctly predicted would find that the GOP plan will throw millions off their health insurance.

    White House officials began a campaign to discredit the CBO on March 8 when during a press briefing White House press secretary -- and renowned liar -- Sean Spicer questioned the work of the nonpartisan researchers at CBO, telling reporters that “if you're looking at the CBO for accuracy, you're looking in the wrong place.” This was an about-face from what the director of the Office of Management and Budget (OMB), Mick Mulvaney, stated on MSNBC’s Morning Joe earlier that day when he claimed “the only question” on the CBO scoring was whether it will it be “really good” or “great” for the Trump administration. Despite his initial optimism, Mulvaney too joined in on attacking the CBO on the March 12 edition of ABC’s This Week, downplaying the effectiveness of the office’s analysis and misleadingly claiming that the agency did not score the Affordable Care Act (ACA) -- also called Obamacare -- accurately. Secretary of Health and Human Services, Tom Price, also blasted the CBO on the March 12 edition of NBC’s Meet The Press.

    In the hours leading up to the CBO’s March 13 report release, Fox News figures attempted to discredit the organization with talking points straight from the Trump administration. Co-host Brian Kilmeade claimed on Fox and Friends that the CBO was tricked into scoring the ACA inaccurately because it did not score the mandate as a tax, adding that the CBO fell “hook, line, and sinker” for some sort of Democratic plan to bring about single-payer health care. On America’s Newsroom, Washington Examiner columnist Byron York claimed the Trump administration’s allegation that CBO had inaccurately scored the ACA years ago was “absolutely true.” On Outnumbered, co-host Melissa Francis claimed “the CBO does get everything wrong” and complained that the CBO underestimated the cost of Medicaid expansion under the ACA. On Fox Business’ Varney & Co., host Stuart Varney’s anti-CBO talking points were rebuffed by Harvard economist and former CBO director Douglas Elmendorf, who pointed out that the office correctly predicted that the number of uninsured would fall under ACA, it accurately projected premium increases under the law, and it actually overestimated the long-term cost of enacting Obamacare.

    As soon as the CBO’s devastating report on the short- and long-term effects of repealing Obamacare and enacting the AHCA was released this afternoon, Fox News turned to discredited New York Post columnist, former Trump economic adviser, and serial health care misinformer Betsy McCaughey to double down on its campaign against the CBO. McCaughey slammed the report as “implausible” for finding that tens of millions would lose health insurance coverage under the Republican health care plan, but happily accepted the same report’s finding of marginal deficit reductions stemming from the repeal of health insurance subsidies to low-income Americans. From the March 13 edition of Fox’s Your World with Neil Cavuto:

    According to an independent analysis of the CBO’s Affordable Care Act estimates from the Commonwealth Fund, the office’s health care policy analysis regarding the ACA actually “proved to be reasonably accurate” and was thrown off by Supreme Court decisions and GOP political obstruction that it had no way to forecast. Even James Capretta of the conservative American Enterprise Institute warned that it may “tempting for GOP leaders to say CBO is wrong” but it would be difficult to “make a credible case” that the repeal plan would not reduce the number of people with health insurance.

  • STUDY: How TV News Ignores The Prescription Drug Price Problem

    Evening News Programs On Cable And Broadcast News Rarely Cover Escalating Drug Prices

    ››› ››› CAT DUFFY

    A Media Matters review of weekday evening news coverage on cable and broadcast networks since December reveals that the evening programs largely ignored the problem of escalating prescription drug prices in the United States, even though lawmakers have introduced legislation aimed to address the issue. 

  • On Cue, Adoring Pro-Trump Outlets Fawn Over February Jobs Report

    Right-Wing Media Sycophants Are Apparently Done Nitpicking The Monthly Jobs Data Now That Trump Is President

    Blog ››› ››› CRAIG HARRINGTON

    Right-wing media reacted with predictable enthusiasm to a better-than-expected February 2017 jobs report from the Bureau of Labor Statistics (BLS), which they attributed to President Donald Trump’s unique leadership. In reality, the economy is currently enjoying a 77-month streak of job creation that began under President Barack Obama -- whom the same outlets routinely blasted for leading a sluggish economic recovery.

    On March 10, the BLS released its monthly jobs report for February 2017 showing that the economy added approximately 235,000 jobs last month and the unemployment rate remained little changed at 4.7 percent. After accounting for minor upward revisions to data from December and January, the economy has produced an average of 209,000 jobs per month over the past three months.

    As Politico’s chief economics correspondent, Ben White, pointed out, the positive report is “a continuation of a good, long trend” and shouldn’t be attributed directly to Trump. White also noted that it is hard to see a “Trump bump” in the February jobs data, which look “nearly identical” to those of February reports from the past two years. Economist Elise Gould of the Economic Policy Institute (EPI) explained this phenomenon at greater length in a March 10 blog, pointing out that Trump “inherited an economy that was already making steady progress towards full employment”:

    Today’s jobs report, which showed the economy adding 235,000 jobs in February, is notable for being the first BLS report of the Trump administration. It may be tempting for today’s policymakers to claim credit for this solid employment growth, but credit is only truly deserved when the economy grows faster than expected. It’s important to remember that President Trump inherited an economy that was already making steady progress towards full employment.

    The jobs data are certainly strong -- and they undermine Trump’s claim that he inherited a “mess” from his predecessor -- but not everything in the report was good news. Bloomberg financial columnist Conor Sen pointed out that the February report showed a drop in employment for workers without a high school diploma, and University of Michigan economist Betsey Stevenson noted that labor force participation for men actually declined slightly while participation rates for women increased.

    These measured responses from expert journalists and professional economists were not echoed by Trump’s cohort of right-wing media devotees, who trumpeted the jobs report as a major victory for the administration. Under a headline proclaiming that the American economy was “GREAT AGAIN!” Breitbart economic editor John Carney -- who was hired to shepherd the fringe website out of the alt-right fever swamp -- absurdly claimed that job creation last month was “jaw-dropping” and that the “jobs market is sizzling.” On Twitter, the right-wing Drudge Report also proclaimed the report showed America was “GREAT AGAIN.” On Fox Business’ Varney & Co., host Stuart Varney stated that we could be witnessing a “Trump expansion” after 77 months of job creation -- 76 of which predate Trump:

    On Fox News’ Fox & Friends, the co-hosts joined Trump surrogate Newt Gingrich in lauding the report. Co-host Pete Hegseth stated that Trump is simply “winning everywhere” while Gingrich suggested that “you're seeing the beginnings, I emphasize ‘beginnings,’ of a potential Trump Economic Era”:

    Media Matters pointed out last month how quickly Fox News had shifted from nitpicking the jobs reports to lauding them after Trump’s inauguration -- so quickly, in fact, that the network incorrectly credited a January expansion to the new president. New York Times reporter Sopan Deb mocked Trump and his right-wing allies for suddenly embracing positive jobs data that they spread conspiracy theories about just months ago, while New York magazine writer Jonathan Chait questioned why no outlets were reporting the more than 90 million people who are currently out of the labor market -- a favorite right-wing media misrepresentation during the Obama administration. As FiveThirtyEight chief economic writer Ben Casselman pointed out, no president deserves singular credit for monthly job creation in the vast American economy.