Does the financial regulatory bill put an end to taxpayer-funded bailouts? Or does it "institutionalize" them? Viewers of the Sunday political talk shows and recent C-SPAN clips from the Senate floor might well be wondering, as Democrats (the "end of bailouts" crowd) and some Republicans (the "institutionalize" camp) have made these contradictory claims.
No piece of legislation can guarantee that a future Congress won’t allow the federal government to prop up a failing financial institution. But claims that this bill makes taxpayer-funded bailouts a permanent fixture are misleading,
Another False Tax Attack (And One That’s Just Deceptive)
There they go again.
Earlier this month, we called out Democrats for falsely accusing a Republican House candidate in Hawaii of pledging to protect tax breaks for sending jobs overseas. All he did was sign a pledge not to raise taxes. Now a Democratic candidate is making the same false claim against his opponent in another special election in Pennsylvania.
For Democrats, misrepresenting an opponent’s anti-tax position as an anti-jobs position is getting to be a bad habit.
Sunday Replay
During his first appearance on CBS’ "Face the Nation" on April 18, Republican Sen. Scott Brown of Massachusetts claimed that the financial regulatory bill could potentially cost insurance companies in his state 25,000 to 35,000 jobs. But the freshman senator has failed to provide any support for the claim, and we have been unable to find any elsewhere.
Brown didn’t provide the source of the estimate when host Bob Schieffer inquired about it. And our calls to the senator’s office haven’t been returned.
Some ‘Climategate’ Conclusions
In November 2009, private e-mails from the Climatic Research Unit at the University of East Anglia were stolen and made public. Climate change disbelievers called it “Climategate,” saying that the e-mails proved collusion and conspiracies that would discredit man-made global warming. We found that there was no solid evidence of wrongdoing in the e-mails, but noted that a detailed investigation by the university was underway.
As it turns out, this investigation came to more or less the same conclusion we did.
Tussling Over TARP
A recent TV ad from Arkansas Lt. Governor Bill Halter claims that Democratic Sen. Blanche Lincoln "says she voted against bailing out Wall Street." That’s not what Lincoln said. The two are campaigning in the Democratic primary for the Senate.
Halter’s ad refers to a Lincoln campaign ad from March in which she said she has voted against "giving more money to Wall Street."
Lincoln never denied voting in favor of the 2008 Troubled Assets Relief Program,
Stimulus Jobs: The Fine Print
The White House announced April 14 that a new report shows that the Recovery Act has been responsible for 2.2 million to 2.8 million jobs through the end of March. As always, we advise reading the fine print.
As we’ve written before, it’s not possible to know what might have happened had the $787 billion economic stimulus bill not been enacted and signed into law more than a year ago, on Feb. 17, 2009. Economists can only estimate.
Shady Deals in the Sunshine State?
Florida Gov. Charlie Crist has launched another ad attacking GOP primary opponent Marco Rubio — and the ethics and legality of his past dealings. They’re campaigning to get the Republican nod for a Senate seat being vacated by Sen. Mel Martinez. The primary is in August.
Crist’s ad draws parallels between Rubio, a former state House speaker, and Ray Sansom, Rubio’s budget chairman when he was speaker and, until recently, a state representative. The ad claims both were known for "preposterous deal-making,"
Sunday Slips
Viewers were relatively safe from false or misleading tripe on the Sunday morning talk shows yesterday.
But we can’t let a couple of statements go unmentioned, one from Mississippi Gov. Haley Barbour and a couple from Rep. Michele Bachmann of Minnesota; both officials are Republicans.
Barbour, speaking on CNN’s "State of the Union" with Candy Crowley, said:
Barbour, April 11: I mean, [Obama] has proposed a $3.8 trillion budget with a $1.6 trillion deficit. The whole budget in 1997 —
Jumping to Conclusions About Census Participation
Republican Rep. Patrick McHenry of North Carolina is fearful that "blatant misinformation coming from otherwise well-meaning conservatives" is affecting the rate at which conservatives return their 2010 Census forms. So concerned that he wrote an op-ed for RedState, a conservative news blog, where he claimed that "[e]arly census returns are showing that conservatives have been measurably less likely than liberals to return their census forms." But as our friends at Politifact wrote, there currently isn’t any evidence to support the claim.
Massey’s Mining Money
The West Virginia coal mining disaster that took more than two dozen lives this week brought Massey Energy Corp., the nation’s fourth largest coal company, into the spotlight. The company and its CEO, Don Blankenship, have never been shy about involvement in the political process. According to the Center for Responsive Politics, Massey’s political action committee plus individuals associated with the commpany have given more than $307,000 in all to federal candidates since the 1990 election cycle.