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The Balance Sheet

The Media Research Center

Free Market Project - Auditing the media's coverage of the free enterprise system

Volume 1 Issue 12 November 2, 2005

In this issue: Lower My Prices! • Taxing Free Enterprise • Death of a Dream? • Good, Bad & Ugly
Energy • Health Care • Tax & Spend • Free Market • Events

New from the Free Market Project

Fueling Outrage
The media love David and Goliath stories, and they’ve manufactured another one pitting the Poor Innocent Consumer vs. Big Bad Oil. The problem is, oil companies didn’t set the prices that led to their recent high profits. That was the work of old-fashioned market forces. Now angry consumers and politicians want to hit the companies with new taxes, which would limit the gasoline supply – ironically, the opposite of their goal to make gas more accessible.

Herman Cain: Punishing Profits
Politicians on the left and the right are calling for a “windfall profits tax” on oil companies’ earnings. But in America’s free market, there should be no limits to success. We work hard so that we can enjoy the fruits of our labors – and the government takes enough of that away from us already.

CNN Says America Is in Trouble, and It’s All Government’s Fault
“Lou Dobbs Tonight” declared a grim conclusion in a recent broadcast, blaming policy makers for the death of the American dream. The report lacked specifics, used questionable statistics and conveniently ignored the robust growth of the U.S. economy.

The Good, the Bad & the Ugly
The Good, the Bad & the Ugly tracks the best and worst media coverage of business and economics. Readers are invited to submit suggestions or news tips to Director Dan Gainor.
This week: Your teacher today is…; the trouble with Lou Dobbs; and the way to save people from malaria.

Also from FMP:

A Quarter Billion Dollars for Malaria, but No Time for Prevention

‘60 Minutes’ Bypasses Obvious Health Care Solution

Media in a Frenzy over Oil Profits

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Research, News & Commentary


Commentary: As oil becomes more expensive, oil sands and oil shale could become the next viable energy source.

Commentary: They never learn… commentary from Investor’s Business Daily on the failures of government meddling in energy markets.

Health Care

Commentary: James Glassman explains why free-riding Europeans are making health care more expensive for U.S. citizens.

Research: For Medicaid to be successful, the entire program needs to be restructured: from cost cutting to new eligibility requirements. Welfare reform could be a good model.

Research: State regulations can make health insurance far too costly for consumers.

Government Spending/Taxes:

Commentary: Just like household budgeting during times of tragedy, government has to watch the checkbook and make some difficult choices.

Research: The American Enterprise Institute publishes polling data about attitudes toward taxes, government spending, and the ever-loathed IRS.

Free Market

Commentary: Michael Cannon plays “myth debunker” regarding a piece by Jonathon Cohn in The New Republic. Is there a tradeoff between “choice” and “security,” or is it possible to have both?

Commentary: School vouchers can put some 370,000 hurricane-displaced children back in school quickly and efficiently. Plus, this process could help heal the wounds of thousands of families who have lost everything to the violent storms.

Upcoming Events

Tell us about events coming up in your area!

Monetary Institutions and Economic Development
Sponsored by the Cato Institute and The Economist
Cato Institute
Nov. 3, 8:00 a.m. – 6:30 p.m.

Demystifying Hedge Funds II: Are They Different From Other Money Management Firms?
American Enterprise Institute
Nov. 3, 9:30 a.m.

Do New Businesses Contribute to Economic Growth?
Hudson Institute

Nov. 3, 9:30 a.m.

An Afternoon with Michael Crichton
Lisner Auditorium, Washington, D.C.
Nov. 6, 2:30 p.m.

Regulatory Oversight at 25
American Enterprise Institute

Nov. 7, 8:30 a.m.

Education Entrepreneurship: Why it Matters, What Risks it Poses, and How to Make the Most of It
American Enterprise Institute

Nov. 14, 8:45 a.m.

“States of Fear: Science or Politics?” with Michael Crichton
Hotel Nikko, San Francisco
Nov. 15, 8:00 p.m.

Join Us in Telling 50 Million Americans Every Week About Liberal Media Bias!

Editorial Staff
Dan Gainor, Free Market Project Director
Amy Menefee, Balance Sheet Editor
Charles Simpson, Research Analyst

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