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1 ABC, NBC Ignore GDP Plummet, Again on Sun Jun 01, 2014 5:16 pm

SSC


Admin
ABC, NBC Ignore GDP Plummet, Again
CBS the only network to report dismal GDP announcements from April and May.
Published: 5/30/2014 3:59 PM ET

By Sean Long
Staff Writer
http://mrc.org/articles/abc-nbc-ignore-gdp-plummet-again?utm_source=Facebook&utm_medium=Marketing&utm_term=Facebook&utm_content=socialflow&utm_campaign=gdp


Two out of three networks spurned the downgrade of GDP into negative territory on May 29 and 30.

Of the ABC, CBS and NBC morning and evening news shows, only CBS “Evening News” mentioned that the already weak first-quarter GDP number was revised down to negative 1 percent growth.

The Bureau of Economic Analysis (BEA) announced the economic contraction on May 29. The previous BEA announcement on April 30 showed first-quarter US growth slowed to just 0.1 percent, a huge slowdown. GDP dropped from 2.6 percent fourth-quarter growth to 0.1 percent.

The BEA blamed the “collapse in growth” on a drop in exports and domestic investment, according to the International Business Times’ Finbarr Bermingham, who called it a “dramatic slowdown.” Despite the significance, the broadcast networks almost completely ignored the story at the time and continued to ignore the revision.

ABC and NBC morning and evening news shows hadn’t mentioned GDP at all since April 30. Both CBS news programs briefly covered the April 30 announcement. CBS reported the revised number on “Evening News” May 29.

This downward revision underscored the need for the networks to report on the initial GDP data, rather than ignore bad economic news. Private forecasts had already predicted negative growth.

The Wall Street Journal’s Ben Leubsdorf cited very troubling data that foreshadowed economic contraction. According to Leubsdorf, J.P. Morgan Chase found a contraction of 0.8 percent, while Macroeconomic Advisers calculated a decline of 0.6 percent.

On April 30, CBS “Evening News” covered the story but tried to downplay the economic weakness. Anchor Scott Pelley blamed the “harsh weather this past winter” as onscreen text declared “economic growth,” Pelley also assured viewers that “the slowdown didn’t worry Wall Street” and emphasized rising stock prices.

Similarly, CBS “This Morning” co-anchor Norah O’Donnell praised the Dow’s “record high” the next day. In that stock market story, O’Donnell spared only 8 seconds to mention GDP. Not much, but more than other network morning shows.

Neither ABC nor NBC mentioned the drastic slowdown in growth. None of the three networks brought it up between GDP announcements either.

While the networks refused to cover bad GDP news, they appeared more than happy to cover the good news. On May 2, just a few days after the GDP announcement, ABC, CBS and NBC hyped the positive job growth, while still ignoring GDP.

2 Re: ABC, NBC Ignore GDP Plummet, Again on Mon Jun 02, 2014 12:29 am

gypsy


Moderator
yes job growth would even improve better if Congress did their Job,asking, what improvement has republican congress ever done in the last 30 years

3 Re: ABC, NBC Ignore GDP Plummet, Again on Mon Jun 02, 2014 12:41 am

SSC


Admin
Think we need to worry about the GDP today and not the past 30 years.

4 Re: ABC, NBC Ignore GDP Plummet, Again on Mon Jun 02, 2014 12:57 am

gypsy


Moderator
yes and the congress still doing nothing, do you have any info they do? No! oh but Block Obama on everything which hurts our country, and its people.

5 Re: ABC, NBC Ignore GDP Plummet, Again on Mon Jun 02, 2014 1:33 am

gypsy


Moderator
my response ~still studying GDP  I do believe that growth in GDP is a good indicator of improving quality of life for a large number of people, because it is a measure of productivity. Growth of the country's GDP is an excellent indicator of an improving quality of life, simply because it is a measure of the amount of work being done, and the productivity going into and resulting from that work. The higher the GDP, the better the economy and, therefore, the better the quality of life. I do believe it is improving,and again Congress comes into mind, they are suppose to  be the lawmakers, create jobs like infrastructure, an working for the betterment of the working class, not the rich,and corporations, they are not doing their job, when a country that has been in recession,caused by Republicans and Bush administration for eight years,it takes a longer time to recover, if you don't have both parties for this goal it will take even longer.. Common sense!

6 Re: ABC, NBC Ignore GDP Plummet, Again on Mon Jun 02, 2014 2:47 pm

SSC


Admin
It did not grow it fell.

7 Re: ABC, NBC Ignore GDP Plummet, Again on Mon Jun 02, 2014 2:51 pm

gypsy


Moderator
not from the charts I have seen it is improving but needs to gain more, maybe if your republicans,and congress would get to work instead of creating scandals that continue to be debunked, maybe it would faster. one man can't do it all, and one man is not taking blame for failure of VA . caused by congress and past administrations.

8 Re: ABC, NBC Ignore GDP Plummet, Again on Mon Jun 02, 2014 2:57 pm

SSC


Admin
then why was the topic heading GDP plummets ??? I do believe that means falls..

9 Re: ABC, NBC Ignore GDP Plummet, Again on Mon Jun 02, 2014 3:00 pm

gypsy


Moderator
I can't take your posts for real, all indications show we are coming out of recession,the economy is improving, now if congress will pass a jobs bill it will grow even faster. put people back to work that is the first thing they should have done but no they can't get their heads out of their ass, all they can do is hate Obama, and nothing they have conjured up has worked.

10 Re: ABC, NBC Ignore GDP Plummet, Again on Mon Jun 02, 2014 3:14 pm

SSC


Admin
Economists are talking another recession the GDP figure was not accurate and was revised as the article stated but you go ahead and google what ever you want but try to stick to gov. sites they have the correct figures just saying

11 Re: ABC, NBC Ignore GDP Plummet, Again on Mon Jun 02, 2014 3:23 pm

gypsy


Moderator
you know what SSC your obsession with your opinions, don't actually state the truth.it is crazy us badgering back and forth doesn't solve anything, your hate for Obama will never change,even if he were 100% perfect, which no one is. definitely not your Republicans in house. and he is trying to improve the mess created, by your so called heroes, the republican party, so far nothing positive has come from that hate from you, or your party. so don't you think is futile for us to debate? what does it accomplish?

12 Re: ABC, NBC Ignore GDP Plummet, Again on Mon Jun 02, 2014 6:33 pm

SSC


Admin
I have stated you have your views I have mine we are like oil and water our politics don't mix, Tyler said don't post on my stuff if it will be another problem, so lets keep it like that you post your interests I'll post mine and we meet in the middle on cooking and gardening

13 Re: ABC, NBC Ignore GDP Plummet, Again on Mon Jun 02, 2014 6:41 pm

gypsy


Moderator
sounds good to me!!

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