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    Retiring Boomers: Where the Bucks Are

    Maintaining and modernizing our armed forces doesn’t just protect America, it fulfills the Constitution’s mandate to “provide for the common defense.” Yet the defense budget appears to be one place where President Barack Obama and Congress are looking to offset massive new spending elsewhere – “stimulating” or otherwise. “The Pentagon … More

    Is 'Card Check' Really a Free Choice?

    Aside from the Stimulus Package, the Liberals in Congress have something else up their sleeve on their agenda. It is known as the “Employee Free Choice Act”, but names can be misleading. The premise of this bill is to “establish stronger penalties for violation of employee rights when workers seek … More

    Why Stop at Banks?

    President Barack Obama likes to rail against high salaries on Wall Street and has even enacted a $500,000 salary cap for executives of firms that receive bailout money from the U.S. Treasury. But why stop there? Virtually all Universities receive millions in federal aid every year and are asking for … More

    Unintended Consequences on Executive Pay III: Exit Goldman

    Is it any coincidence that on the same day that the Obama Administration announces restrictions on executive pay for companies taking government bailout money, Goldman Sachs announced that it is pulling out of the government’s Troubled Asset Relief Program? The investment bank, says CFO David Viniar, is chafing under the … More

    Unintended Consequences on Executive Pay II: Pay Caps

    Policies premised more on class-warfare than sound economics, are not going to get us out of this recession. They may actually delay recovery. In my last post, I discussed the example of a ban on “golden parachutes” for top executives. Now, another item from the Treasury’s pay rules for companies … More

    Unintended Consequences on Executive Pay I: Golden Parachutes

    Policies premised more on class-warfare than sound economics, are not going to get us out of this recession. They may actually delay recovery. A case in point: the executive pay guidelines released by Treasury today.  Though the new rules seem to apply, at this point, to only the few corporations … More

    Taxpayers on the Hook for...Who Knows What?

    Strike Two: Not only did President Obama fail to open the Ledbetter Act for public comment before he signed it, a violation of his pledge to boost transparency, but now his administration is refusing to release information on billion-dollar loan guarantees made to some of America’s largest banks. Bloomberg News, … More

    UK Auto Bailout

    Few economists have a good word for the Smoot-Hawley tariffs of 1930, which provoked a worldwide round of competitive protectionism that reduced trade, deepened and prolonged the Great Depression, and aided the rise of the Nazi Party. Out of that disaster came a bipartisan consensus: the U.S., for decades a … More

    "Cash For Clunkers" Drives into Reality

    But for handing over gobs of cash with no strings attached, it would be harder to imagine a more sweetheart deal for the auto industry: According to the Wall Street Journal, Congress is considering a proposal to pay consumers to buy new cars. It could wind up as part of … More

    Big Labor Does Not Need Any More Help

    Sen. Reid has said he wants the Senate to vote on the misnamed Employee Free Choice Act (EFCA) this summer. The bill, Big Labor’s highest legislative priority, effectively eliminates secret ballot organizing elections. Instead of letting workers decide whether or not they want union representation in the privacy of the … More