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    High Long-Term Unemployment No Surprise

    Congress is considering increasing the length of time unemployed workers can collect unemployment insurance (UI) benefits. Normally unemployed workers can collect UI benefits for up to 26 weeks. Congress changed the law to allow 39 weeks of benefits. Now many in Congress want to allow 46 weeks of benefits. One … More

    Disturbing Auto Industry #s

    Lynne Kiesling highlights these daunting numbers from David Yermack’s WSJ piece: • GM and Ford are two companies that made the most money-losing investments in the 1980s; between them they “destroyed $110 billion in capital” in the decade, according to an analysis from the careful and renowned economist Michael Jensen. … More

    Bailouts for Future Millionaires

    Is there nothing the liberals on Capitol Hill will not throw money at? MIT Professor Andrew Lo testified before the House Oversight Committee last week on the increasing gap between pay for finance and engineering graduates (hint, there is money in finance kids!). Not content to let high salaries solve … More

    Video: Bankruptcy, Not a Bailout, Is a Better Option for Automakers

    Heritage Senior Research Fellow James Gattuso explains what happens when bankruptcy is declared and why it is a better option for Detroit Automakers [youtube]http://www.youtube.com/watch?v=6wKGODqsZ2o[/youtube]

    These People Deserve a Bailout?

    This week Capitol Hill is focused on bailing out the Big Three auto makers. But come January throwing money down the Detroit money hole will just be one of many schemes the Obama administration and his liberal majorities in Congress will be pushing. Sen. Chris Dodd (D-CT), of Countrywide Financial … More

    Auto Bailout: Stuck in Neutral

    Congress is facing a few road bumps during this lame duck session to pass any legislation. The Omnibus Lands Bill that restricts energy exploration has been put on the backburner, at least for now, to make room for a vote to bail out Detroit. The good news is Democrats and … More

    A Breach of Trust

    This week the executives of the Big Three auto makers are expected to testify on Capitol Hill. As Heritage Senior Legal Analyst Andrew Grossman points out, these industry titans may have breached their fiduciary duties by relying solely on Congress to bail them out: A corporation’s board of directors, as … More

    Merely the Beginning of the Bailout Parade

    Heritage U.S. Senate Relations Director Brian Darling writes in Human Events: The Democratic leadership in Congress and President-elect Barack Obama have an ambitious stimulus list, including monies for pet transportation projects, an extension of unemployment insurance, food stamps and a costly auto industry bailout (more on that below). The Bush … More

    Mind the Gap

    Wanna know why Ford and GM lost billions this quarter while Toyota posted a tiny profit? University of Michigan at Flint professor of economics Dr. Mark Perry provides this graphic: Also of note, according to the Department of Labor, the hourly compensation costs for all employees in manufacturing is $29.60. … More

    Progressive Corporatism at Work

    The most important thing to remember as Capitol Hill debates the auto bailout this week, is that the incestuous relationship between big business, big labor, and big government is not confined to the auto sector. Instead it infects everything Washington touches. CATO’s Dan Mitchell writes: Naive and/or deceptive politicians often … More