Stuart Varney

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  • Media Fall For And Reinforce Trump’s Spin On “Buy American, Hire American” Executive Order

    ››› ››› BOBBY LEWIS

    Multiple media outlets and figures uncritically reported on President Donald Trump’s planned executive order promoting policies that encourage the federal government to “buy American” and “hire American” wherever possible. These outlets and figures did not note that the executive order only calls for a review of current policy, and does not meaningfully change it, and some other outlets buried those crucial details in their reporting.

  • Fox Echoes Trump’s Attacks On Tax March: “The Election Is Over!”

    Trump Apologists Cannot Understand Why Protests Aimed At Trump’s Tax Returns Would Coincide With Tax Day

    Blog ››› ››› ALEX MORASH

    Fox News echoed the insults and attacks President Donald Trump leveled against tens of thousands of Americans that took part in over 180 rallies and events in 48 states over the weekend in protest of the president’s refusal to disclose his tax returns.

    On April 15, the day that federal tax returns are typically due to be filed, organizers in Washington, D.C. and across the country led Tax March demonstrations in protest of Trump’s refusal to release his tax returns to the public. Trump attacked the protestors in a series of tweets the following day, complaining that his “tax returns are being brought up again,” diminishing the nationwide demonstrations as “small organized rallies,” and suggesting that demonstrators were paid to oppose him. Trump concluded by exclaiming “the election is over!”

    Taking their cue from Trump, Fox News media personalities proceeded to blast the Tax March. On the April 17 edition of Happening Now, co-host Jenna Lee questioned “the timing of this” and wondered if the protests were a distraction given “everything that’s going on in the world.” Guest Adam Goodman, a Republican strategist, agreed with her assessment adding that “for many, as I think you can now see, the campaign isn’t over, it’s never over.”

    The April 17 edition of Fox’s Outnumbered led its segment bashing the protesters by displaying Trump’s tweet calling for the protestors to be “looked into” and co-host Meghan McCain deflected criticism of Trump’s unprecedented refusal to disclose his tax information because he was not legally required to release it. Guest Guy Benson, political editor of Townhall, complained that the Tax March and other protests against Trump’s presidency made him feel “fatigue,” and wondered “why this issue, why a giant protest now?” Later that evening, on Fox Business’ Kennedy, host Lisa Kennedy Montgomery piled on the criticism, calling the protesters “a collection of free wheeling leftists” who are “bored” with the Trump administration and disgruntled Clinton supporters who have not gotten over the election.

    Fox continued to mock the protesters and playdown the importance of Trump releasing his tax returns into the following day. On the April 18 edition of Fox & Friends, Fox contributor and the Trump campaign’s deputy campaign manager, David Bossie, falsely claimed “the American people don’t care” if Trump discloses his tax returns and that the marchers were “paid professional protesters.” Later that morning, on Fox Business’ Varney & Co., Fox News senior judicial analyst Andrew Napolitano acknowledged Trump’s taxes were an important issue during the campaign but reiterated Trump’s talking point that “the campaign is over” and “this is no longer relevant.” Host Stuart Varney, however, admitted that the tax returns might reveal Trump could make “enormous” gains from the tax cuts he campaigned on.

    While Trump’s devotees and apologists at Fox regurgitated his rhetoric, investigative reporter and tax specialist David Cay Johnston -- who had previously obtained a copy of Trump’s 2005 tax returns -- explained on the April 18 edition of MSNBC’s MSNBC Live that complete tax disclosure remains important in rooting out conflicts of interest and understanding how much Trump would benefit from his tax agenda:

    Fox News defended Trump hiding his tax returns throughout the 2016 election season and seems poised to continue. The network has repeatedly held Trump to a different standard than other presidents and politicians.

  • Fox Host Admits Unwillingness To Criticize Trump For Mediocre March Jobs Report

    Stuart Varney: “If We’d Have Had 98,000 New Jobs In Any Month During The Obama Administration, We Would Be All Over Them”

    Blog ››› ››› ALEX MORASH

    Fox Business host Stuart Varney admitted on air to a clear double standard on how he and Fox cover the monthly jobs report for presidents of different political parties. Less than an hour after a disappointing jobs report was released by the Bureau of Labor Statistics (BLS), Varney revealed that if a similarly “weak” report had been published under President Barack Obama, he would have castigated the president as a “failure” -- something he admittedly wouldn’t do to President Donald Trump.

    On April 7, the BLS reported that the American economy added just 98,000 jobs in March while the unemployment dropped slightly to 4.5 percent. The report also revised down the number of jobs created in January and February by 38,000. Though the improved unemployment rate is the lowest in 10 years, the number of new jobs created was far lower than the 175,000 jobs economists expected for the month. Less than an hour after the report was announced, Varney called it “a very weak jobs report” but refused to lay blame on Trump. Varney admitted that, had this report come out during the Obama administration, “we would be all over them” for the supposed “failure of the president's economic policy.”

    Varney repeatedly downplayed positive economic indicators during the Obama administration. Indeed, one year ago, he tried to spin the March 2016 jobs report by questioning the “quality” of the 215,000 new jobs created. Months earlier, he had claimed that 292,000 new jobs created in December 2015 were “modest by historical standards,” even though it was one of the strongest reports of the entire year and showed nearly three times the number of jobs shown in the March 2017 report.

    Varney’s momentary break of character shines a light on his network’s “fair and balanced” charade, but the spectacle has been on full display since Trump took office. Fox News praised a solid January jobs report as “fantastic news,” and wrongly credited Trump for creating jobs that actually predated his inauguration. A month later, Fox personalities, including Varney, lauded a solid February jobs report as proof that Trump is simply “winning everywhere” and held it up as evidence of the “‘beginnings,’ of a potential Trump Economic Era.” Even this morning, Fox News initially declared that the same jobs report Varney described as “weak” would stand as part of “the most successful day” of Trump’s presidency.

    Watch Varney’s admission on the April 7 edition of Fox Business’ Varney & Co.:

    STUART VARNEY (HOST): Look, if we'd have had 98,000 new jobs in any month during the Obama administration, we would be all over them.

    ASHLEY WEBSTER: Yes.

    VARNEY: Failure of the president. Failure of the president's economic policy. Okay? Why shouldn't I say that now about Mr. Trump?

    JOHN LONSKI: Well go ahead.

    VARNEY: No, I’m not gonna do that.

    LONSKI: But we haven’t had the president in office for long, and you haven’t had enough time really to put together a policy. They tried it on the health care front. Maybe they tried too quickly. Maybe that hurt them.

  • Fox Business Host Allows Industry CEO To Continue Denying The Real Reason For Coal’s Decline 

    Blog ››› ››› KEVIN KALHOEFER

    Fox Business host Stuart Varney allowed a coal mining company CEO who previously said President Donald Trump couldn’t bring back coal jobs to walk back those comments, while Varney himself pushed the myth that environmental protections are to blame for the loss of jobs in the coal industry.

    A March 27 article in The Guardian reported that Robert Murray, the CEO of Murray Energy, the largest privately owned coal company in the United States, acknowledged that technological advances and competition from renewable energies and natural gas are responsible for the coal industry’s decline. Murray warned that Trump should “temper” his expectations for a return of coal mining jobs because he “can’t bring them back.” Trump has repeatedly promised that he will reinvigorate the industry by rolling back regulations.

    A week after Murray spoke with The Guardian, Varney allowed the CEO to walk back his comments. On the April 3 edition of Fox Business' Varney & Co., Varney repeated Murray’s quote from the news report and asked, “Why can’t the president bring back coal mining jobs if he gets rid of these damaging climate restrictions?” Murray replied, “Well, he can. It’s the degree to which he brings them back. I was asked when I was quoted, ‘Can he bring them back to where they were?’” Murray added that Trump could bring back “at least half” of the 63,000 coal jobs that he said were lost due to environmental protections.

    Numerous experts have debunked the claim that Trump can bring back tens of thousands of coal jobs. As an energy economist at the University of Wyoming told The New York Times, even if coal mines stay open, they are “using more mechanization” and “not hiring people. … So even if we saw an increase in coal production, we could see a decrease in coal jobs.”

    Murray’s comments come at a time when coal mining is vastly overshadowed by employment in the renewable energy sector. The Associated Press reported that “coal mining now accounts for fewer than 70,000 U.S. jobs. By contrast, renewable energy — including wind, solar and biofuels — now accounts for more than 650,000 U.S. jobs.” And a recent analysis by the Sierra Club found that “only six states have more jobs in coal and gas than clean energy -- and the growth of clean energy suggests that won’t be the case for long.”

    A Media Matters review of Nexis transcripts found that over the years, Murray has been a frequent guest on Fox Business, where he has repeatedly pushed the lie that coal mining job losses were due solely to environmental regulations. On the rare occasions when Fox Business hosts asked Murray about the impact of technology or natural gas on the coal industry, Murray downplayed the significance of those factors or pivoted back to attacking environmental regulations.

    Methodology

    Media Matters searched Nexis transcripts of Fox Business from the last five years using Robert Murray and coal, Robert Murray and (automat! o technolog!), and Robert Murray and natural gas.

  • 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?

  • 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.

  • 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.

  • Five Things Media Figures Demanded Obama Attorneys General Resign Over That Are Less Serious Than Lying Under Oath

    And Trump’s Chief Of Staff Twice Called For Eric Holder’s Resignation

    ››› ››› ZACHARY PLEAT

    Lawmakers began calling for Attorney General Jeff Sessions’ resignation after news reports published on March 1 revealed that he had spoken to Russia’s ambassador to the United States during the 2016 election, when he was serving as a campaign surrogate for then-candidate Donald Trump. The reports contradict sworn testimony Sessions provided during his confirmation hearing, when he said he “did not have communications with the Russians.” During the Obama administration, conservative media figures and Republicans demanded that his attorneys general resign or be fired for supposed outrages far less damaging than lying to Congress, none of which were criminal in nature, and were in many cases completely phony.

  • Voter Fraud Myths Pushed By Trump Have Long Been Propagated By Right-Wing Media

    ››› ››› NICK FERNANDEZ & CAT DUFFY

    Throughout his campaign, and continuing now as President, Donald Trump has made a series of baseless claims alleging mass voter fraud in order to either preemptively cast doubt on the election results, or to dispute the fact he didn’t win the popular vote. Trump’s allegations, which ranged from “people are going to walk in” and “vote ten times,” to claiming “he would have won the popular vote had it not been for millions of illegal votes,” and most recently his decision to ask for “a major investigation into voter fraud” are based on a series of myths that right-wing media have pushed for years -- including the arguments that strict voter ID laws are needed to prevent voter fraud, that dead people are voting, and that there is widespread noncitizen voting.

  • Fox News Retools Misleading Jobs Report Spin One Last Time

    Will The Network Continue Its Nitpicking Misinformation Campaign After Trump Takes Office?

    Blog ››› ››› CRAIG HARRINGTON

    Today marked the release of the final monthly jobs report during President Obama’s time in office, and Fox News wasted no time in spinning the document, which showed consistent job gains, new workforce entries, and sizable year-to-year wage increases, by claiming that it’s “not a great picture of the employment situation.” The network has exploited the monthly jobs report to attack the president since he took office in January 2009, but its campaign of misinformation will likely come to a screeching halt next month.

    On the first Friday of every month, the Bureau of Labor Statistics (BLS) releases its monthly employment situation summary detailing key indicators of the national labor market from the previous month. The report for December 2016 showed another month of consistent performance from the American economy, with 156,000 new jobs created, a 2.9 percent increase in hourly wages over the previous year, and the unemployment rate remaining “little changed” at 4.7 percent. The December jobs figure came in below some economic forecasts, but the miss was offset by major upward revisions to jobs estimates in October and November. Meanwhile, the slight 0.1-point increase in the unemployment rate was driven mostly by an influx of job seekers entering the labor market last month. According to The Wall Street Journal, December marked the 75th consecutive month of job growth -- the longest streak on record.

    On CNN’s New Day, chief business correspondent Christine Romans outlined the details of what she called “a solid finish to the year.” Romans said the economy created roughly 2.2 million jobs in 2016 and stressed that “altogether for the Obama presidency, it’s a net 11 million new jobs” even though he inherited the Great Recession and took office in a year when “5 million jobs just disappeared”:

    Investment analyst and Bloomberg View columnist Conor Sen argued that the December report “is about as strong of a jobs print as we can get at this point in the cycle.” University of Michigan economist and New York Times columnist Justin Wolfers compared the economy to “the little engine that could,” arguing that after accounting for prevailing economic trends, the December report was “good news.” New York Times senior economic correspondent Neil Irwin noted that the 2.9 percent average hourly wage increase “is the highest of this expansion,” concluding, “Boom.” Economist Elise Gould of the Economic Policy Institute wrote in a January 6 blog post, “All told, it’s clear that the next president is inheriting an economy much stronger than it was at the start of the previous administration,” a sentiment echoed by MSNBC’s Steve Benen, who said the report stands as yet more evidence that “the president is handing off a healthy economy to his successor (who spent 2016 telling voters the economy is terrible).”

    The generally positive outlook on the economy portrayed by these journalists, economists, and other experts was once again absent at Fox News, which painted the report as another example of the president’s failing policies.

    Fox Business host Stuart Varney slammed the report all morning on Varney & Co., and he invited several guests to claim that the report was proof of a sputtering and “sick” economy. Fox & Friends co-hosts Steve Doocy and Brian Kilmeade lamented the report as “not a great picture of the employment situation in the country,” ignoring all its positive indicators, while guest and Trump apologist Jeanine Pirro slammed the Obama administration for its supposed failure to advance the economic interests of African-Americans. (Many observers had noted that the December report actually showed the unemployment rate for African-Americans falling to its lowest point since August 2007.) From the January 6 edition of Fox & Friends:

  • Wall Street Journal Virtually Alone In Defending Trump’s Pick For Labor Secretary

    Even Breitbart Opposes Fast-Food CEO Andy Puzder Running The Department Of Labor

    Blog ››› ››› ALEX MORASH

    The Wall Street Journal editorial board stands virtually alone in defense of President-elect Donald Trump’s pick for secretary of labor, Andy Puzder, a notoriously anti-worker fast-food CEO and frequent right-wing op-ed contributor to the Journal.

    The Journal’s editorial board published a defense of Puzder on December 8, praising his opposition to raising the federal minimum wage, expanding Obamacare, and strengthening overtime protections for workers. The editorial board continued that they hoped Puzder would roll back other progressive advances for working-class Americans, including reversing an executive order mandating paid sick leave for federal contractors and undoing the Labor Department’s fiduciary rule requiring investment brokers to act in a client's best interests. From the Journal:

    Donald Trump’s selection of CKE CEO Andy Puzder to lead his Labor Department has incited a tantrum on the left, which is a good sign. The burger maven once told us that he often picked up litter around his restaurants, and departing chief Tom Perez is leaving plenty to clean up.

    [...]

    He is also the rare executive who promotes free markets rather than merely his narrow business interests. Mr. Puzder has expounded in these pages on the unintended consequences of ObamaCare’s mandates and a $15 minimum wage. He’s also detailed how the Obama Administration has contributed to the shrinking labor force and large number of underemployed workers.

    The Journal was one of the few voices to speak in support of Puzder’s nomination for secretary of labor. During a December 9 segment on Fox Business, host Stuart Varney used the controversy surrounding the nomination as “an excuse to run those racy ads” objectifying women, which Puzder’s company has become known for.

    One of the only other defenders of Puzder is Stephen Moore -- a discredited economist, Trump economic adviser, and a former Journal editorial board member -- who, while defending his boss’ pick, attacked Media Matters and “the big unions” for what he called “a loud and libelous campaign” to damage Puzder’s nomination.

    Controversy has been mounting over Puzder’s nomination after initial reporting failed to note the many right-wing media myths he has pushed to support his anti-worker agenda. The New York Times blasted Puzder in an editorial on December 8 titled “Andrew Puzder Is The Wrong Choice For Labor Secretary” for his stances on worker rights, and for Puzder’s companies' -- Carl's Jr. and Hardee’s -- record of labor law violations. From The New York Times:

    Here is the record at those restaurants. When the Obama Labor Department looked at thousands of complaints involving fast-food workers, it found labor law violations in 60 percent of the investigations at Carl’s Jr. and Hardee’s, usually for failure to pay the minimum wage or time and a half for overtime.

    MSNBC’s Morning Joe mocked Puzder on December 9 for his statement to Business Insider that machines are preferable to workers, and co-host Mika Brzezinski reported that opposition to Puzder came from both the left and from the alt-right website Breitbart News, which had been instrumental in helping Trump get elected.

    Puzder has a history supporting anti-worker policies and had claimed that replacing people with machines would be preferable because machines “never take a vacation” or complain when discriminated against. Puzder opposes new overtime rules proposed by the Department of Labor that would extend guaranteed overtime pay to millions of American workers. Puzder has also misleadingly claimed that stronger wages and benefits actually hurt workers, frequently attacking the push to raise the minimum wage, and Obamacare’s health insurance expansion.

    Finally, as Gary Legum pointed out in a column published by Salon, if Puzder is confirmed, he may be the “least qualified labor secretary” since the early 1980s, when the Reagan administration appointed construction magnate Raymond Donovan to the same post.

  • Reports Show Trump May Have Had Little To Do With SoftBank Deal He Took Credit For

    ››› ››› CRAIG HARRINGTON & ALEX MORASH

    On December 6, President-elect Donald Trump credited his election victory for spurring Japanese telecommunications and technology giant SoftBank to propose a $50 billion investment in the United States, which he claimed would create as many as 50,000 jobs. Later reporting from The Wall Street Journal and others debunked Trump’s boasts, but not before numerous media outlets amplified his unsubstantiated claims.

  • Right-Wing Media Slam Student Loan Assistance, Calling It A “Con” And A “Bailout”

    Blog ››› ››› ALEX MORASH

    The Wall Street Journal’s editorial board joined a chorus of right-wing outlets in blasting the federal government’s income-based student loan repayment program, calling it a costly “con” meant to “buy millennial votes.” Yet right-wing media are ignoring the benefits of a program that could relieve millions of student borrowers of a portion of their remaining debt and that is still generating a profit.

    Right-wing media lambasted the Department of Education and student borrowers after the Journal reported on November 30 the latest findings from the Government Accountability Office (GAO), which found that the government is on track to forgive $108 billion of $352 billion in student loans as part of federal income-driven repayment plans. The Journal’s editorial board blasted the government on December 1, calling the latest findings proof that the Department of Education’s loan program is a “con” designed to “buy millennial votes.” (The editorial column was the Journal’s second since November 1 lamenting the federal program, which has led to millions of students earning student loan forgiveness.) Earlier that day, Fox News host Jon Scott questioned if the program was a “bailout” for student borrowers. Fox Business host Stuart Varney also called the program “a bailout” on the November 30 edition of Varney & Co., while his guest Steve Costes added that the program is “a shame.”

    Federal student loan borrowers have multiple repayment plan options, including income-based plans that require borrowers to pay back loans based on a percentage of their income for a certain number of years, after which the remainder is eligible to be forgiven. The GAO’s findings were for the hypothetical cost in loan principal forgiveness for the 5.3 million borrowers who signed up for income-based repayment plans for loans issued over a 22-year period, between 1995 to 2017. These borrowers will likely see an average of $21 forgiven for every $100 in loans received. Despite right-wing media complaining about the cost of borrower relief for those on income-based payment plans, the GAO found that the Department of Education still nets a profit on student loans.

    The reason the government still makes a profit even after loan forgiveness is because many federal student loans have an interest rate at 6.8 percent -- a figure that is much higher than inflation or the 1 percent interest rate banks receive from the Federal Reserve. The 6.8 percent interest rate is so high that the GAO’s hypothetical borrower would pay almost double the original principal of their loan if the income-based plan had no cutoff date for forgiveness:

    Student loan debt is a leading concern among young people, with The Atlantic finding nearly 30 percent of Americans aged 18 to 29 “cited paying off student loans as their biggest financial challenge.” According to Fortune, “there is little doubt that many Millennials are struggling financially” after a survey by PwC found that 79 percent of the 42 percent of millennials that have student loans struggle to pay those loans. Evidence shows student debt can impact personal wealth, delay homeownership affect personal decisions to marry or start a family, and that it has “cripple[d] retail sales growth.” The financial stress of student loans has a “devastating toll” on borrowers’ mental health, according to Complex, which cited findings by researchers that “student loans were associated with poorer psychological functioning.”

    While right-wing media push many myths about student debt, student concerns are valid; according to a November 21 op-ed published by Investopedia, Americans with student loan debt have “a challenging road ahead of them in the present and the future” due to workers being unable to save for retirement. The op-ed, which was authored by a financial adviser, even questioned whether people with student loans "will be able to retire” at all. The increasing debt burden can even hinder career advancement as graduates can be forced to take jobs that may have no chance of wage growth or career development so they can make debt payments on time.

    Conservative media have labeled higher education as a "privilege" and suggested students ought to choose fictional cheaper colleges. Some outlets have even defended schools that take advantage of students and leave them with significant debt. But research shows college matters now more than ever, and the cost to attend is rising across the board. The student debt crisis is especially damaging for poor students and students of color, who more frequently attend cheaper open-access and community colleges and are still forced to borrow in higher numbers to pay for their education.

    Blaming students for the student loan debt crisis ignores the facts and distracts from finding real solutions to America's skyrocketing student debt burden.