In a story discussing President Obama’s FY2012 budget request, Rachel Jakubowitcz of CBS News mentions how that the budget proposal will reduce the deficit $1.1 trillion over ten years. Jakubowitcz also quotes Former Congressional budget analyst Stan Collender calling the deficit reduction “not an insignificant amount.” This may be true if the budget actually But, as Heritage research fellow Brian Riedl notes, much of the President’s proposed budget savings nonexistent and also will not be scorable by the Congressional Budget Office. Riedl explains,

It claims $315 billion saved from eliminating “certain tax expenditures” — but doesn’t list which

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Reporting on the fight over the taxes between President Barack Obama and Republicans in Congress, CBS News‘ David S Morgan reports parenthetically:

[In an August 2010 article titled "Five Myths About the Bush Tax Cuts," the Washington Post reported that "Less than 2 percent of tax returns reporting small-business income are filed by taxpayers in the top two income brackets."]

It is true that only a small percentage of small businesses pay the highest two tax rates. However, what the November 7th CBS News story fails to report is that those same businesses earn 72 percent of all small business … Continue Reading

Covering the White House’s factually unsubstantiated claims that the Chamber of Commerce is using foreign money to pay for television advertisements, CBS News Stephanie Condon reported October 8th:

The president was referring to the outside interest groups that have flooded the 2010 election cycle with cash, in many cases without publicly disclosing their donors. Much of the activity can be tied to the Citizens United Supreme Court decision that significantly freed up corporate spending.

This is just plain false. There is nothing about spending by third parties this year that is in anyway tied to the Citizens United decision. Perhaps … Continue Reading