From the September 19 edition of Fox News' The O'Reilly Factor:
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A flagship report found that acting on climate change and improving the economy go hand in hand, which was reported by business media outlets across the globe. But three prominent outliers left their audiences in the dark: CNBC, Fox Business, and The Wall Street Journal.*
On September 16, many major business media outlets from Fortune Magazine to BusinessWeek reported on a recent analysis finding that the next 15 years are essential for acting on climate change, and that it is possible to do so while simultaneously growing the global economy. The report, titled "The New Climate Economy" and carried out by the Global Commission on the Economy and Climate, refutes the "false dilemma" between economic growth and climate change mitigation -- an important finding for businesses that want to thrive in the decades ahead. From Reuters:
Investments to help fight climate change can also spur economic growth, rather than slow it as widely feared, but time is running short for a trillion-dollar shift to transform cities and energy use, an international report said on Tuesday.
Yet the report was ignored by three prominent business media outlets -- a disservice to their business audiences who deserve to know the economic risks of global warming. The outlets that ignored the findings of the "New Climate Economy" report may not come as a surprise: CNBC, Fox Business, and The Wall Street Journal all have a sordid history with reporting on climate change.
When the "Risky Business" report was released earlier this year -- another report detailing the economic costs of climate change inaction -- CNBC was caught soliciting a writer to talk about "global warming being a hoax" to rebut the report's findings. The network's on-air coverage of "Risky Business" featured Squawk Box co-host Joe Kernen criticizing the acceptance of global warming as "Orwellian groupthink." Media Matters analyses found that CNBC misled their audience on global warming in the majority of their reporting on the topic in 2013.
Fox Business also regularly offers demonstrably false reporting on global warming. Co-hosts have often claimed that global warming is over, or even that we are in a period of global cooling. When the Risky Business report was released, Fox Business mocked its findings of heat-related mortalities and dismissed the report entirely as using "scare tactics."
Similarly, Wall Street Journal dismissed the findings of the Risky Business report, with its editorial board calling one of its authors' suggestions for a carbon tax as economically harmful as the 2008 financial crisis. The Journal has downplayed and dismissed the impacts of climate change and other environmental threats for decades, and gives a frequent platform to "skeptics" that urge inaction on climate change and dismiss the basic science behind the consensus.
The New Climate Economy was heralded by political leaders around the world advocating a transformation in the global economy. By ignoring it, these outlets are showing that their priorities are at odds with businesses that want to prosper in a changing climate.
*Based on a search of internal video archives from September 15 to 12 p.m. September 17 for "climate" for Fox Business and CNBC, and a Factiva search for "climate" for Wall Street Journal.
When BP's Deepwater Horizon oil rig exploded in 2010, Fox News pundits rushed to the corporation's defense with excuses ranging from pitiful to conspiratorial. But now the ruling is out, exposing the falsities of Fox's defense: BP was to blame for the worst oil spill in U.S. history.
Fox News pundits pulled out all the stops to deflect blame from BP when the Deepwater Horizon oil rig in the Gulf of Mexico exploded in 2010, killing 11 workers and causing devastating environmental impacts. They accused environmentalists and the government for "forcing" the company to drill further from shore and touted conspiracy theories. The network berated the Obama administration for "villainiz[ing]" and "demonizing" the corporation and compared Congressional hearings on the disaster to "Soviet-style" trials and "Inca ritual slaughter":
A federal court, however, ruled on September 4 that BP was largely responsible for the disaster -- not the scapegoats that Fox News tried to pin the blame on.
Watch the difference between Fox News' spurious defense and the facts:
A federal judge assigned 67 percent of the blame to BP, concluding that the corporation acted in "gross negligence" and "willful misconduct." The Wall Street Journal reported on several instances where the court found that BP forewent safety measures in the name of profit:
Struggling with a dangerously unstable oil well in April 2010, BP chose to drill an additional 100 feet into a fragile rock formation thousands of feet beneath the Gulf of Mexico.
That decision set in motion a series of failures that led to the deadly Deepwater Horizon catastrophe and the worst offshore oil spill in U.S. history, a federal judge ruled Thursday.
"BP's decision to drill the final 100 feet was the initial link in a chain that concluded with the blowout, explosion and oil spill," Judge Carl Barbier wrote. The decision "was dangerous," he added, and "motivated by profit."
Video created by Coleman Lowndes.
From the August 25 edition of Your World with Neil Cavuto:
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From the August 21 edition of Fox News' Your World with Neil Cavuto:
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In The Wall Street Journal, Rep. Paul Ryan (R-WI) disavowed the offensive narrative pushed by conservative media which labels needy Americans as "takers" versus more economically-prosperous "makers." However, Ryan's proposed anti-poverty policies still rely on the right-wing media myth that blames poverty on poor individuals' personal life choices.
From the July 31 edition of Fox Business' Varney & Company:
Fox News misleadingly attacked the federal food stamp program for being wasteful and unaccountable despite reports that the program achieved the lowest payment error rate in its history in the most recently available data.
Fox New complained about the findings of a report from the U.S. Department of Agriculture (USDA) on quality control in the Supplemental Nutrition Assistance Program (SNAP), previously known as food stamps. The USDA report clearly states that the 2012 fiscal year was "another year of excellent performance in payment accuracy" before noting that the most recent payment error rate of 3.42 percent was once again "the lowest National payment error rate in the history of SNAP."
On the July 24 edition of Fox News' Fox & Friends, co-host Brian Kilmeade cast the findings in a negative light, stressing that "the government is overpaying on food stamps by about $2 billion." Co-host Steve Doocy then questioned whether the Obama administration could "be trusted with more money," given the overpayments. Fox Business anchor Stuart Varney went on to chastise the Department of Agriculture for labeling the food-stamp payment error rate of 3.42 percent "excellent," wondering aloud "since when has that been good?"
Fox News' mischaracterization of the SNAP report continued throughout the day. On Happening Now, co-host Jenna Lee called the USDA report "startling" and said that "the administration is having a tough time managing its funds." On The Real Story, host Gretchen Carlson claimed that federal spending on nutrition assistance was "reaching a breaking point" before highlighting the growth of participation in the food stamp program since 2007.
Far from indicating a managerial flaw in the Obama administration, the 2012 payment error rate in SNAP is evidence of success in rooting out improper payments. According to the report being derided on Fox News, the national payment error rate in SNAP during President Obama's first year in office was 4.36 percent. That error rate then fell to 3.81, 3.80, and 3.42 percent in fiscal years 2010-2012, respectively.
Rep. Paul Ryan's poverty proposal, which would in part punish impoverished Americans for not getting themselves out of poverty on a specific timeline, is based on the conservative myth pushed by right-wing media that blames poverty on individuals' "spirit" and personal life choices. Experts say poverty is the result of systemic inequality and lack of opportunity.
Fox News hosts read directly from Walmart's official corporate script to defend the company against a critical New York Times op-ed that indicated the retailer's role in perpetuating the need for government assistance programs.
On June 19, The New York Times published an op-ed calling Walmart "a big part of the problem" of rising economic inequality in the United States. Citing data from multiple sources, opinion columnist Timothy Egan noted that the average "associate" at Walmart makes between $8.81 and $11 per hour, frequently relying on government anti-poverty relief to fill income gaps. Egan noted that Walmart claims its average employee makes "at least $12 per hour," but that "these numbers are skewed by higher pay for management." Egan cited a recent exposé by Fortune senior editor Stephen Gandel detailing how the company could easily give a 50 percent raise to more than one million employees without hurting its stock value or profitability:
No matter the exact figure, there's no dispute that Walmart's business model forces thousands of hard-working people to look for outside help just to get by.
And under that model, Walmart has made a fortune -- $17 billion in profits last year, executive compensation for one man at the top in excess of $20 million a year, and a windfall making the six heirs of the founding Walton family worth at least $150 billion.
Walmart could make life easier for its 1.4 million workers, without diminishing its stock value. Writing in Fortune.com, Stephen Gandel concluded that Walmart could give workers a 50 percent raise without hurting shareholder value.
On the June 23 edition of Fox News' Fox & Friends, co-host Steve Doocy and Fox Business anchor Stuart Varney dedicated a segment to supposedly fact-checking the Times, pulling pushback directly from Walmart's officially sanctioned corporate response.
Varney called the Times op-ed "utter nonsense," and an attempt to "demonize Walmart." Ignoring that Egan acknowledged the dispute over Walmart's average hourly wage in the op-ed, Varney stated that the author "got it wrong" as he recited Walmart's more palatable average wage claim. Doocy and Varney uncritically agreed that the data supplied by Walmart was "all true" before pivoting to place blame for economic inequality at the feet of the Obama administration:
Despite Fox's unabashed foray into corporate public relations, Timothy Egan's statement holds true: "No matter the exact figure, there's no dispute that Walmart's business model forces thousands of hard-working people to look for outside help just to get by."
Fox News is ignoring economists' warnings that record student debt is a drag on the economy and attacking President Obama's plan to provide an avenue for student debt relief as a "distraction" that Fox claims will leave taxpayers "footing the bill."
Fox News brushed aside the value of Environmental Protection Agency research grants for clean cooking and heating technologies, saying that the dangerous indoor pollution from dirty stoves is only "a mere contribution" to 4.3 million deaths, and fearmongered that the EPA would soon come after American stoves. However, even Fox News' "favorite" environmental pundit has said that the fact that millions are dying from dirty cooking stoves -- more deaths than from AIDS and malaria combined -- is an "immediate problem."
Fox News' Stuart Varney dishonestly hyped new data on the number of Americans receiving Social Security Disability Insurance (SSDI) to accuse beneficiaries of committing fraud to avoid finding a job. But experts agree that fraud in the SSDI program is low and there is no evidence Americans are faking their disabilities.
A May 21 Drudge Report headline proclaimed a "Record 10,999,447 On Disability and linked to a CNSnews.com article announcing that the total number of disability beneficiaries in the U.S rose in April "setting a new all-time record":
On Fox's America's Newsroom, Fox Business host Stuart Varney claimed the "explosion" in disability beneficiaries showed "America is becoming increasingly a welfare state. " Varney accused SSDI beneficiaries of committing fraud by taking the "disability option" supposedly where able-bodied individuals who can't find a job use SSDI "almost as an insurance policy against no income or no job":
VARNEY: During the Obama years we've gone from eight million people, just about eight million people claiming Social Security disability payments all the way up to nearly 11 million. That is a huge explosion in disability payments. Now a lot of people are taking what's called the disability option. They can't find a job. So they take -- they treat disability almost as an insurance policy against no income or no job. So you have got this explosion in disability payments. And Martha, we can't afford it.
Two points, number one, if we go on like this the Social Security disability trust fund, totally runs out of money by the end of 2016. That is not that far away. Number two, there's been an expansion in who qualifies for disability payments. Mental disorder is now acceptable. Mood disorder, or back pain. Now, that kind of opens the door to fraud because you can't really prove a lot of that. And plus, once you get disability, you're on it for a very long time because the virtually very little inspection process to figure out who is off the disability, who has recovered. So pretty much payment for life. We can't afford this
Fox & Friends misrepresented the findings of a new report on the increase in low-wage jobs during the economic recovery to attack President Obama, failing to mention that the report cites cuts to public sector employment -- not Obama's economic policies -- as a major culprit for the post-recession net job loss.
On the April 28 edition of Fox & Friends, Fox host Stuart Varney distorted the findings of a new National Employment Law Project (NELP) report as "the left pointing out the failures of President Obama's economic policies." Co-host Steve Doocy described the report as "an eye-opener" and falsely claimed that The New York Times, which reported on the NELP study, is "turning on the White House":
The newly released NELP study found that since the economic downturn, low-wage jobs have replaced higher-wage positions in the private sector. According to NELP, "lower-wage industries accounted for 22 percent of job losses during the recession, but 44 percent of employment growth over the past four years." The report explained the growth of low-wage jobs during this recovery:
One year into the recovery, we noted that slow growth in higher-wage industries was likely the result of specific drivers of the Great Recession, including the housing bubble collapse and financial crisis, as well as a continuation of the long-term decline in durable and nondurable manufacturing and telecommunications. Three years later, mid- and higher-wage industries are adding jobs; albeit, not at a fast-enough rate to fill employment deficits in many cases (see Tables 1 and 2 in the Appendix). Nevertheless, four years into the recovery, growth remains strongest in low-wage, service-providing industries (e.g., retail, restaurants, and temporary help) and industries less affected by recessions (e.g., health and education).
Contrary to Varney's claims that this report is a "critique from the Left," the NELP report does not address the president's economic policies in any way. The only mention of economic policy in the report addresses budget cuts, specifically at the local level, as a "driver of unbalanced growth":
Over the past four years, private sectors gains have been partially offset by public sector job losses resulting from budget cuts at the federal, state, and local levels. Net job losses totaled 627,000 across all levels of government during the recovery period. Employment declines were particularly severe at the local level, where education absorbed nearly three-quarters of the 378,000 net job losses over the past four years. (emphasis added)
Fox has previously championed budget cuts and falsely blamed the Obama administration with harming the economic recovery. Fox has also attacked the president's calls to raise the minimum wage to $10.10 per hour, a cause firmly supported by NELP and numerous other groups. Fox's apparent interest in NELP's work only emerges when it fits with the network's obstructionist anti-administration narrative.
Fox News often promotes myths about student loan debt in the United States, misinforming about everything from the lack of protections borrowers receive, to the unsubtantiated claim that student loans drive up college costs, to the myth that struggling borrowers are taking a government handout. As the two-year anniversary of student debt surpassing $1 trillion takes place this week, here is a sample of the network's past student loan misinformation.