Members of the right-wing media have promoted the claim that President Obama has "gutted" Medicare in order to fund health care reform, while GOP vice presidential candidate Paul Ryan is attempting to preserve the program. In fact, though Obama and Ryan have advocated similar spending reductions, the Affordable Care Act would not affect Medicare benefits, while Ryan's plan is projected to harm current and future seniors' care.
During his Fox Business program today, Stuart Varney used deceptively edited video of President Obama praising government action on General Motors to wonder if Obama is advocating "bailouts for everyone." However, Fox didn't play the portion of Obama's remarks in which he made clear he wasn't proposing bailouts or government control of private industry. Obama instead proposed to keep jobs in America through tax code reform and "tax breaks to companies that are investing here."
Varney began the segment by asking, "Is President Obama really saying bailouts are good for everyone?" and then played Obama's remarks at a Colorado Springs, Colorado, event in which he said "the American auto industry has come roaring back" and "what we did with the auto industry, we can do it in manufacturing across America":
VARNEY: Is President Obama really saying bailouts are good for everyone? Listen to what he said yesterday and you decide.
OBAMA (VIDEO CLIP): I said, let's bet on America's workers, and we got management and workers to come together, making better cars than ever, and now GM is number one again, and the American auto industry has come roaring back. So now I want to say, I want to say, what we did with the auto industry, we can do it in manufacturing across America.
Varney responded by asking: "Really? Bailouts for everyone? More government help, that's the answer? Is that what the president is implying and saying?"
If Varney was unclear about what Obama was proposing to helping boost jobs, he probably shouldn't have cut off Obama's speech. Obama said moments later: "I don't want to outsource. I want to insource. Let's reform our tax code and let's make it simpler. And let's make sure that we're providing tax breaks to companies that are investing here in Colorado Springs, here in Colorado -- not overseas."
After hyping exaggerated claims about potential Keystone XL pipeline related jobs, Fox News is now simply inventing them. Fox is claiming that 114,000 U.S. veterans are heading north of the border to build the Canadian portion of the Keystone XL pipeline. In fact, the jobs are "not at all related to the Keystone pipeline," according to the company recruiting workers in Alberta, Canada.
Fox News got the story - and clearly did not check it - from Veterans of Foreign Wars, which sponsors the jobs-listing website, VetJobs, that partnered with the Edmonton Economic Development Corporation to advertise skilled-labor jobs available in Alberta. VFW's press release suggested the jobs would involve the Keystone XL pipeline, stating: "Though America's Keystone Pipeline is delayed, the Canadians are moving forward on their side of the border and have an immediate need for tens of thousands of workers." But in a phone conversation, VetJobs founder Ted Daywalt said he was not trying to imply that the jobs were related to the Keystone pipeline, and that media reports "jumped the gun."
As world leaders gather for the UN's Rio+20 Earth Summit this week in Brazil, Fox is taking the opportunity to once again deny the threat of climate change. Here's David Asman on Fox Business claiming "it's getting colder":
No. It's not.
Stuart Varney mocked the UK's Prince Charles for issuing a statement on the urgency of addressing climate change, arguing that he has no credibility on climate change because "he's not a scientist." But that's never stopped Fox.
From the April 16 edition of Fox Business' Varney & Co.:
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After the EPA proposed regulations on greenhouse gas emissions from power plants, several conservative media outlets claimed that the new rule would increase electricity prices for consumers by prohibiting the construction of coal plants without carbon dioxide controls. But economists and other analysts say that because low natural gas prices are already suppressing coal-plant growth, the rule will not significantly affect electricity rates.
From the March 27 edition of the Fox Business Network's Varney & Co.:
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"Completely wrong." "Simply ignorant." "Scientifically incorrect." "Utter Nonsense." "Very odd." These are words scientists have used in the past to describe the nationally televised ramblings of weather forecaster Joe Bastardi, who Fox News hosts from time to time in an apparent effort to dismantle whatever its viewers might know about physics.
When we last saw Joe, he was breaking the news that the world's climate scientists had overlooked the first law of thermodynamics. (He was wrong.) After a thorough round of mockery in the blogosphere, we thought surely Fox would throw away Bastardi's phone number. But here he is on Fox Business this morning, declaring that carbon dioxide "literally cannot cause global warming":
BASTARDI: CO2 cannot cause global warming. I'll tell you why. It doesn't mix well with the atmosphere, for one. For two, its specific gravity is 1 1/2 times that of the rest of the atmosphere. It heats and cools much quicker. Its radiative processes are much different. So it cannot -- it literally cannot cause global warming.
Asked about Bastardi's statements, Kerry Emanuel of MIT said: "Utter rubbish. Sorry to be so direct, but that is just the case." NASA climatologist Gavin Schmidt added: "Bastardi is attempting to throw out 150 years of physics." "He seems very confused," said physicist Richard Muller.
Fox News is calling for President Obama to somehow require a single national blend of gasoline instead of the multiple blends tailored for seasonal and local pollution conditions in accordance with the Clean Air Act Amendments and state regulations. But doing so would lead to increased pollution or increased gas prices and disrupt what a Bush administration task force called a "cost-effective" approach to cleaner air.
As income disparities continue to increase, and the effective tax rate paid by the rich remains at historic lows, right-wing media figures work hard to make sure none of that changes. They routinely attack the poor and programs designed to assist them, while simultaneously extolling the rich and defending them against any attempt to get them to pay their fair share of taxes.
By the author's own admission, Mackinac's analysis uses "simple math": "I added the known state and federal incentives that have been offered and divided by the number of Volts sold." Hohman also acknowledged on Fox Business that he is "not an expert on the auto industry." But it doesn't take expertise to realize that Hohman's methodology is deeply flawed.
First, he does not take into account future Volt sales, which, as Fox Business' Stuart Varney pointed out, will substantially reduce the cost-per-vehicle number. In the coming months, GM plans to expand manufacturing plants and increase production of the Volt to keep up with rising demand from dealerships. As production and sales ramp up, the per-vehicle subsidy cost will continually drop.
Furthermore, the $3 billion figure includes a broad range of state and federal incentives not only to GM, but to any company supplying parts for the Volt. For example, it includes $100 million in tax credits and subsidies to Compact Power, which manufactures lithium ion batteries for the Volt. But the company also supplies batteries to several other automakers, including Ford, Renault, and Hyundai. Therefore, it is misleading to include the full $100 million as government support for the Volt.
On at least three separate occasions, Fox Business ran a quote purportedly made by an Occupy Toronto protester who wondered why anyone would want to work long hours. In reality, the quote is fake, as it came from a "satire" piece published by The Globe and Mail.
Humor columnist Mark Schatzker published an October 21 piece in the Canadian newspaper -- headlined, "Occupy Toronto: The one-week anniversary party" -- which contained the following quote from "Jeremy, 38":
"It's weird protesting on Bay Street. You get there at 9 a.m. and the rich bankers who you want to hurl insults at and change their worldview have been at work for two hours already. And then when it's time to go, they're still there. I guess that's why they call them the one per cent. I mean, who wants to work those kinds of hours? That's the power of greed." - Jeremy, 38
The column itself is tagged as "satire" on the Globe and Mail's site. Still, as Mediaite's Nando Di Fino and TPM's Jillian Rayfield noted, conservatives bloggers passed the quote off as real. The Power Line's John Hinderaker ran the quote and later posted an update claiming, "Upon further review, prompted by my wife, I think the quotes attributed to occupiers at the linked site are jokes. Pretty funny ones, too. The point, I think, remains valid."
The fake quote didn't just fool conservative bloggers, as Fox Business repeatedly quoted "Jeremy" on-air. During the October 26 broadcast of Fox Business' America's Nightly Scoreboard, host David Asman read the quote -- which was attributed to an Jeremy, an "Occupy Wall Street Protester" -- to criticize the protests.
Fox is baselessly speculating that Warren Buffett conspired to invest in Bank of America as a political favor to President Obama. But the investment follows Buffett's history of investing in banking companies; Buffett told reporters the investment was his idea; and the investment is reportedly a "guaranteed profit" for Buffett.
From the August 25 edition of Fox Business' Varney & Co. at Night:
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In at least 40 instances since the beginning of 2011, conservative media outlets wrongly told consumers that the light bulb efficiency standards scheduled to take effect in 2012 will require them to use compact fluorescent light bulbs (CFLs).