Bloomberg Television - Controversy

Controversy

On April 13, 2011, Bloomberg Television was heavily criticized for using an advanced copy of a speech delivered by U.S. President Barack Obama to censor live coverage of the speech. During the live speech, which was about the national debt, Bloomberg cut out a portion of the speech. The exact transcript of the removed portion was:

By 2025, the amount of taxes we currently pay will only be enough to finance: our healthcare programs (Medicare and Medicaid), social security, and the interest we owe on our debt. That's it. Every other national priority: education, transportation, even our national security, will have to be paid for with borrowed money. Now ultimately this rising debt will cost jobs and damage our economy. It will prevent us from making the investments we need to win the future. We won't be able to afford good schools, new research, or the repair of roads. All the things that create new jobs and new businesses here in America. Businesses would be less likely...

During the time when this section of the speech was being delivered, the newscast presented a short segment about the "Beige Book", a report which is regularly issued by the Federal Reserve Board.

Much of the controversy concerned whether or not the censorship had racial overtones, or was simply directed at the specific content of the speech.

In the United Kingdom, Bloomberg television was severely reprimanded for breach of Ofcom rules during the 2005 UK national (General) election. Bloomberg TV was found to have showed pro-Labour Party bias. This occurred due to a breach of British law. In the run up to a general election television channels must provide equal time to all major political parties. Bloomberg covered the release by the Labour Party of their so-called "Business Manifesto" but did not provide counterbalancing air time to the Conservatives or Liberal Democrats.