taxpayers

Networks Stand with Wisconsin Unions, Ignore $1-3 Trillion Pension Deficit for Five Days

admin — Wed, 23 Feb 2011 20:05:00 +0000

Julia A. Seymour

For roughly a week, a battle has been raging in Madison, Wis. Evening news programs on the three broadcast networks framed these as "citizen uprisings" over pay cuts and "eliminating unions' collective bargaining powers to negotiate wages and benefits."

Reporters also portrayed this as a national union issue, but mostly failed to point out the national problem of pension underfunding.

The Top 10 Economic Myths of 2010

admin — Thu, 09 Dec 2010 19:28:00 +0000

Julia A. Seymour

Each year the Business & Media Institute looks back on the year's news and selects the top 10 worst economic myths. Here is our 2010 list:

10. GM Repayment Shows Taxpayer Bailout Worked

9. All the Economy Needs is More Stimulus

8. Soda is Like Cocaine and Ads Cause Obesity

7. Obama the Tax Cutter

6. The Tea Parties are Astroturf, but Green Groups Aren't.

5. Despite Largest Budget in History, Obama is Fiscally Conservative

4. Lack of Press Freedom in Gulf Doesn't Point to Obama

Networks Downplay $42 Million in 'Outrageous' Bonuses, 'Unlimited' Bailout of Fannie, Freddie

admin — Wed, 06 Jan 2010 19:28:05 +0000

Julia A. Seymour

The network news media cheered when Obama called for restrictions on CEO pay or bonuses that, according to reporters, exemplify the Wall Street “greed” that toppled the American economy.

But when $42 million in cash compensation packages were announced on Christmas Eve for Fannie Mae and Freddie Mac executives, the networks couldn’t muster any anger toward the highly connected groups. Although Fannie and Freddie were two government-sponsored enterprises whose excessive risk taking contributed significantly to the housing crisis, the networks barely reported the story at all.

Dear WSJ: Congressional Oversight is No Accountability

admin — Thu, 29 Oct 2009 20:56:15 +0000

Donald J. Boudreaux, Ph.D.

Editor, The Wall Street Journal

200 Liberty Street

New York, NY 10281

To the Editor:

Congress and Excess

admin — Tue, 17 Mar 2009 10:11:46 +0000

L. Brent Bozell III

Outrage burst forth from lawmakers in Washington when the story broke that insurance giant AIG still planned to dole out $165 million in bonuses to executives while it teeters near bankruptcy, kept afloat by taxpayers. But the outrage is mostly coming from hypocrites. Just days earlier, President Obama signed an omnibus spending bill with $12.8 billion in self-serving earmarks for legislators during the economic crisis. How can the president and Congress lecture AIG? Don't the earmarking hogs look like hypocrites?

GMAC Continues Sponsorship of Bowl Game Despite $5 Billion Taxpayer Bailout

admin — Fri, 02 Jan 2009 21:40:04 +0000

Jeff Poor

GMAC may be in financial trouble, but that isn’t stopping the auto lender-turned-bank holding company from maintaining its corporate sponsorships.

Cramer Pleads for Taxpayer Bailout of Fannie, Freddie

admin — Fri, 11 Jul 2008 20:23:08 +0000

Jeff Poor

Is government the answer to curbing the economic downturn? CNBC’s Jim Cramer advised government intervention in a big way on the July 11 “Today” show on NBC.

Media Spread Suspicion of Gas 'Gouging'

admin — Wed, 30 May 2007 18:00:00 +0000

BMI Staff

Media Spread Suspicion of Gas Gouging

Media: U.S. Should Throw Billions of Dollars at Global Warming

admin — Wed, 08 Nov 2006 17:52:13 +0000

Julia A. Seymour

Amy Menefee

How will the new Congress handle world pressure on the “dire” threat of global warming? If the media had their way, the United States would give in and join programs that are proven failures – costing taxpayers up to $180 billion per year in the process.

World leaders are meeting this week in Nairobi, Kenya, to discuss a new climate change agreement, and the idea du jour is to make the United States pay up.

Media Myth: Taxation with Misrepresentation

admin — Wed, 12 Apr 2006 18:49:00 +0000

Amy Menefee

See Executive Summary

When is a dollar a taxpayer dollar?

     A. When it’s paying for stem cell research.
     B. When it’s going to the military in Iraq.
     C. When it’s supporting public education.
     D. When it’s aiding sick and hungry Africans.
     E. All of the above.

Government-Sponsored Enron

admin — Sat, 02 Apr 2005 00:54:00 +0000

Dan Gainor

See Executive Summary

It's a familiar story. An enormous company reveals its 'accounting problems.' The problems are found to be far worse than anyone realized. The CEO is forced to resign. Other high-ranking executives follow. The stock price begins to drop. Billions of dollars might be lost. The politically savvy CEO even has direct connections to a presidential administration.