Mr. Obama opened his 40-minute speech with what he called "disturbing news": a report from the Treasury Department that, he said, "found that nearly half of all Americans under 65 will lose their health coverage at some point over the next 10 years” and that “more than one-third will go without coverage for longer than one year."

In fact, that is not precisely what the department found when it analyzed data from a University of Michigan survey that tracked the health insurance status of more than 17,000 Americans from 1997 to 2006.

The survey found that 47.7 percent had lost coverage at some point during those 10 years for one month or more, and that 36 percent lacked coverage for at least one year during that time, though not necessarily 12 months consecutively. Mr. Obama extrapolated those statistics to predict what might happen in the future.

Critics say that the president, who has deplored the "scare tactics" of his opponents, is now employing scare tactics of his own.

Huh. In case you didn't follow that: Obama cited a study with some striking numbers on workers losing their health insurance. That's indeed what the study found....  BUT, explains the Times, his presentation is misleading because the future could be radically different from the very recent past. Or as Dean Baker put it, "President Obama was making extrapolations about the future based on the past. Next thing he'll be telling us that black is white and night is day. This is why we need an independent media."

Fire insurance transfers wealth from people who don't have house fires to people who do. Car insurance transfers money from people who don't have car accidents to people who do. This is the basic concept of insurance. It protects people from bad events, transferring money from people who don't have bad events to those who do. In other words, this quote is telling us that Japan's health insurance system is operating like a health insurance system.

The article is also quick to tell readers that Japan's system may be unsustainable. Its subhead is: "Aging population could strain system." It is worth noting that Japan's population is already far older than the U.S. population.

"If the United States had the same age distribution as Japan," writes Baker, "its healthcare costs would almost certainly already be above 20 percent of GDP, compared to the current 17 percent." Listen to the FAIR radio program CounterSpin: "Trudy Lieberman on Healthcare Reform" (8/14/09).

In his August 24 broadside against what he dubs Barack Obama's "Rail Boondoggle," Samuelson trots out the tired argument against "almost $35 billion in subsidies into Amtrak" that "the federal government has poured" in the last four decades--with the usual corporate pundit omissions, like the fact that, as long ago as 1994 it was determined that "hidden subsidies for drivers amount to well over $2 for every gallon of gasoline sold."

Beyond that, "Samuelson tries to tell us that trains might be useful in Japan and Europe, but they won't work in the United States":

He tells readers that:

Densities are much higher, and high densities favor rail with direct connections between heavily populated city centers and business districts. In Japan, density is 880 people per square mile; it's 653 in Britain, 611 in Germany and 259 in France. By contrast, plentiful land in the United States has led to suburbanized homes, offices and factories. Density is 86 people per square mile.

The density for the United States as a whole would be relevant if the plans were to build a train network going from Florida to Alaska, but that is not what is on the agenda. Instead, the issue is about deepening and improving the network in relatively densely populated parts of the country, like Ohio (277 people per square mile), New York (402) and New Jersey (1,134). The population densities of much of the United States are very comparable to the regions in Europe through which high-speed rails travel.

Baker then tells how "Samuelson also bizarrely compares long-distance train with the 140 million daily trips to work each day," even though "most people do not travel between cities every day, so it's not clear what the point of the comparison is."

Recapping, Baker writes that "Robert Samuelson doesn't like trains. He told us that this morning in his column." However, "he didn't tell us anything else."

See the FAIR magazine Extra!: "The Railroading of Amtrak: Trains, Planes and Automobiles Held to Different Standards" (7–8/02) by Christopher Ott.

Instead, Baker writes "readers got to see the comment of Robert Profusek, a lawyer at Jones Day who is identified as having advised major banks on compensation matters," and Linda Rappaport, "head of the executive compensation practice at the firm Shearman & Sterling"--both of whom unsurprisingly argue for maintaining high executive pay in order to attract "talent" that will "make the money for the shareholders."

Baker voices the unspoken aspects of this assertion:

If the Post had solicited the views of a populist, or an economist, they might have told readers that much of what the banks earn comes directly at the expense of consumers and businesses....
The public has no obvious interest in subsidizing traders to speculate in financial markets. If the speculators win, then the loans that Goldman and the others receive will be repaid, but this repayment will only be a portion of the higher prices paid by consumers and lower profits earned by producers as a result of Goldman's speculation.

And, "moving beyond the world of speculation," Baker doubts that "if most of these individuals were replaced by the person next in line...the bank's profits would suffer in any big way." Which means that "these high salaries are just a drain on the bank, its shareholders and the taxpayers. But you won't see this argument presented in the Post."

Listen to the FAIR radio show CounterSpin: "Robert Johnson on AIG Bonuses" (3/20/09).