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Tracy Byrnes

Tracy Byrnes

Tracy Byrnes
Author and Fox Business reporter

Fox Business Network has declared this first week of June “Red Ink Week,” and the network is devoting nearly all of its coverage to exposing the effects of government spending. But the reporters and anchors at Fox aren’t interested in giving America a history lesson; instead, they want to tell the stories of regular Americans who, like the government, now find themselves and their families swimming in red ink. Fox is revealing the practical implications of public policy, looking to those factories and businesses where government action has had the biggest impact. It seems only proper that business reporter Tracy Byrnes is spearheading Fox’s coverage this week, since the former accountant and mother of three regularly considers the effects of politics and the market on families.

Byrnes graduated from Lehigh University with a double major in economics and English, and she received her MBA in accounting from Rutgers University Graduate School of Management. She began her career as a senior accountant at Ernst & Young LLP.

Byrnes’ accounting background helped her transition from full-time businesswoman to writer and eventually on-air reporter. As a financial journalist for TheStreet.com, she wrote weekly columns about taxes and the market, offering personal financial advice as well as general recommendations for investing. She specialized in tax and accounting questions and gained popularity for her willingness to present economic issues simply and directly. Her articles have appeared in the Wall Street Journal, New York Post, and Money magazine.

Her realistic approach to money issues earned her the attention of Fox News Channel. She made several live appearances on Bulls and Bears and Your World with Neil Cavuto before becoming a reporter for Fox Business Network and a regular on Cashin’ In. Fans appreciate Byrnes for her straightforward language; she regularly breaks down economic issues and outlines how changes in politics and the market will effect American families. In her recent book, Break Down Your Money: How to Get Beyond the Noise to Profit in the Markets, she incorporates humor into her clear explanations of market concepts and investing terms.

When Fox needed a New York reporter for its Red Ink Week, the network turned to Byrnes, knowing that she could offer sound advice about spending and saving in a recession. She uses her experience as an accountant to explain the auto industry and bank bailouts, and she reveals just what government spending could mean for the taxpayer. “Things may appear to be a mess these days.” Byrnes told her Red Ink Week viewers. “The deficit is exploding, taxes will mostly likely increase and inflation will eventually rear its ugly head, all because the government has gotten very involved – arguably too involved – in corporate America. And while there is certainly a lot of red ink around, there are things you can do to protect yourself. More than ever, you need to take care of yourself and your family above all else. Make sure you have adequate savings, little debt, and proper health care.”

Byrnes’ suggestions may sound simple, but they are a much needed dose of reason. She encourages her viewers first to understand the market and then to take necessary steps to protect their money. She has recommendations for aspiring business owners too. “Take advantage of that entrepreneurial spark,” she urges, noting that some of today’s most successful companies, among them Fedex and HP, were formed during periods of economic downturn.

Along with the other experts at Fox Business, Byrnes is sounding the alarm when it comes to government action. Beyond that, this month’s woman on top is helping American families navigate their way through this economic crisis. Now, perhaps more than ever, we should heed her warnings about saving and spending, and finally pay attention to where our money is going.

About The Author:

Gianna Englert

Gianna Englert graduated from Saint Vincent College in 2008 with a BA in political science. She now spends her time reading Great Books in pursuit of a masters degree in liberal arts. She has been a contributor to CapitalistChicks.com since 2005.