The Associated Press’s business writers just won’t let go of their claim (or is it audacious hope?) that we are in a recession — not heading towards one, but actually in one.

Despite yet another decent economic report, this one on productivity, the AP’s Martin Crutsinger downplayed a significant beating of expectations, and continued to invoke the R-word (bolds are mine):

Click through to read the rest. At least if Obamessiah wins the Presidency we'll start to get good news from the MSM on the economy (regardless of the actual numbers). Just look at today compared to '96 heh

Labels: economy, MSM, recession

It’s the Politics, Stupid:

Comparing Labor Market Data in 1996 and 2008

Democrats on the Economy in 1996:

“Our economy is the healthiest it has been in three decades.” (President Bill Clinton, State of the Union Address, January 23, 1996)

Democrats on the Economy in 2008:

“The bottom line is that this administration is the owner of the worst jobs record since Herbert Hoover." (Senator Charles Schumer, Press Release, March 7, 2008)

Labels: democrats, economy, MSM, politics, republicans

NEW YORK (CBS/AP) ― The New England Patriots' shot at history Saturday night will be available for every household in the country with a television after months of wrangling.

The game against the New York Giants, in which the Patriots could become the first NFL team to go 16-0 in the regular season, was originally scheduled to be shown only on the NFL Network, which is available in fewer than 40 percent of the nation's homes with TVs.

But the league announced Wednesday that the NFL Network feed will be simulcast on NBC and CBS. It's a major concession by league officials, who repeatedly said they would not show the game anywhere but the NFL Network. The NFL had faced mounting pressure from politicians in recent weeks to make the game available to more viewers.

This will be the first three-network simulcast in NFL history and the first simulcast of any kind of an NFL game since the first Super Bowl in 1967, when CBS and NBC both televised the first meeting of the champions of the newly merged National Football League and American Football League.

"We have taken this extraordinary step because it is in the best interest of our fans," commissioner Roger Goodell said. "What we have seen for the past year is a very strong consumer demand for NFL Network. We appreciate CBS and NBC delivering the NFL Network telecast on Saturday night to the broad audience that deserves to see this potentially historic game. Our commitment to the NFL Network is stronger than ever."

Against all odds, and despite the usual drumbeat of criticism, President Bush had a very good year.

The troop surge in Iraq is succeeding. America remains safe from terrorist attacks. And the Goldilocks economy is outperforming all expectations.

At his year-end news conference, Mr. Bush said with optimism that the economy is fundamentally sound, despite the housing downturn and the subprime credit crunch. The very next day, that optimism was reinforced with news of the best consumer spending in two years. The prophets of recessionary doom, such as former Fed Chairman Alan Greenspan, Republican adviser Martin Feldstein, ex-Democratic Treasury Secretary Lawrence Summers, and bond-maven Bill Gross have been proven wrong once again.

Labels: economy, growth, jobs, NFL, W, war

New wage boost puts squeeze on teenage workers across Arizona

Employers are cutting back hours, laying off young staffers

Chad Graham
The Arizona Republic
Feb. 10, 2007 12:00 AM

Oh, for the days when Arizona's high school students could roll pizza dough, sweep up sticky floors in theaters or scoop ice cream without worrying about ballot initiatives affecting their earning power.

That's certainly not the case under the state's new minimum-wage law that went into effect last month.

Some Valley employers, especially those in the food industry, say payroll budgets have risen so much that they're cutting hours, instituting hiring freezes and laying off employees. (link)

Labels: economy, government, wages

Dow closes above 12,500 for first time

AP Photo: In this photo released by the New York Stock Exchange, Noreen Culhane, third left, Executive...

By JOE BEL BRUNO, AP Business Writer 19 minutes ago NEW YORK - Wall Street surged higher Wednesday, hurtling the Dow Jones industrials past 12,500 for the first time as year-end bargain hunters picked up stocks across a variety of sectors. The auto industry was in focus after a meeting between executives at Toyota Motor Corp. and Ford Motor Co. sparked hope about a potential alliance between the two rivals. Shares of both companies moved higher on the speculation.

Further takeover activity lent support to the overall market after McClatchy Co. announced late Tuesday it agreed to sell the Star Tribune newspaper in Minneapolis to a private equity fund. Also, graphics communication company Cenveo Inc. agreed to buy rival Cadmus Communications Corp.

But investors looking to buff up their portfolios by year's end were behind most of the gains after major indexes languished last week. (link)

John Edwards joins presidential race

AP Photo: John Edwards smiles as he is interviewed by reporters during a break while working with...

By NEDRA PICKLER, Associated Press Writer 7 minutes ago WASHINGTON - Former Democratic vice presidential nominee John Edwards jumped into the presidential race Wednesday a day earlier than he'd planned, prodded by an Internet glitch to launch a candidacy focused on health care, taxes and other domestic issues. The North Carolina Democrat's campaign accidentally went live with his election Web site a day before an announcement Thursday that was supposed to use Hurricane-ravaged New Orleans as a backdrop.

The slip-up gave an unintended double-meaning to his campaign slogan on the John Edwards '08 Web site: "Tomorrow begins today."

Aides quickly shut down the errant Web site but could not contain news of the obvious, even in the shadows of former President Ford's death.

"Better a day earlier than a day late," said Jennifer Palmieri, an Edwards adviser. (link)

Labels: economy, election, MSM

Poverty, taxation, government and the economy
Posted by: McQ on Friday, December 15, 2006

The Goldwater Institute just did a very interesting study (pdf) concerning poverty, taxes and government spending. It's conclusions seem to validate classical liberal economic theory concerning the best way to address poverty.

It measured overall poverty and childhood poverty in all 50 states and any reduction or gains within those two categories when compared to the national average between 1990 and 2000. Their findings: (link)

Labels: conservative, economy, poverty, taxes