Look out, America. The United Auto Workers union is prepared to do whatever it takes to “defend democracy,” including using the tactics of the protesters in the Middle East. And they say their first priority is re-electing President Barack Obama. But behind the rhetoric, the UAW is busy waging a war on democracy in order to shore up its base of support. No, this revelation of the UAW’s plans doesn’t come from any secret memo obtained under cover of night. The news comes straight from the mouth of none other …
Popular economics suggests that economic activity results from a circular flow of money in the economy: One person’s spending is a second person’s income, and the second person’s spending is a third person’s income, and so on. According to this theory, recessions occur because psychological factors cause individuals to increase savings, which interrupts the circular flow of money, leading to a vicious downward cycle. When this happens, the central bank—the Federal Reserve—is supposed to increase the amount of money in the economy by lowering interest rates. Once people have more …
From the hype surrounding the newly announced $26 billion settlement over abusive foreclosure and mortgage servicing practices, one might think that it would single-handedly solve the housing crisis and end underwater mortgages. This is not the case. Like the many versions of President Obama’s refinancing plan, this settlement has large numbers in the aggregate but will probably mean only a little relief for a fairly small number of homeowners. This is not a policy initiative. It is the resolution to court cases against mortgage servicers for some seriously abusive practices. …
Pork producers are speaking out against legislation that would give federal regulators the authority to mandate cage sizes for egg-laying hens. They’re worried it could lead to a slippery slope that increases red tape for farmers on a range of issues. The bill, sponsored by Rep. Kurt Schrader (D-OR), would impose costs between $4 billion and $10 billion on farm production, according to industry estimates. The legislation requires conventional cages to be replaced with new colony housing for hens — about double their normal size. Among the bill’s other requirements: …
The deal reportedly reached Thursday to release another 130 billion euro bailout for Greece is just one more temporary fix. Greece will get enough new cash to avoid the messy default it faced a few weeks hence, and the pain of adjustment will be shared by private bondholders, who are expected to write off about half the value of their Greek bonds; the European Central Bank, which this week agreed to forgo potential profits on Greek bonds it bought at a discount; and the Greek public, who will see benefits …
A new National Labor Relations Board regulation that expedites elections for union representation will likely lead to dramatically higher rates of unionization, a new study has found. A majority of workplace union elections are decided by five or fewer votes, according to a Bloomberg Government analysis. What’s more, “cutting the time between a request for an election and the ballot increases the chances union supporters will prevail,” according to the study. “Unions win 87 percent of elections held 11 to 15 days after a request, a rate that falls to …
Wonder if it’s too hot to go outside at your workplace? Don’t bother checking the thermometer or stepping outside—the federal government has the answer for you. And it’s only costing taxpayers $643,997.60. Josh Peterson of the Daily Caller reports that the Department of Labor’s Occupational Safety and Health Administration (OSHA) is due to release a smartphone app that uses temperature and humidity data to warn workers if it is too hot outside. According to OSHA’s website, the “Heat Safety Tool”—available for Android, Blackberry and iPhone—“allows workers and supervisors to calculate …
In his two terms in office, President Ronald Reagan gave America a powerful transfusion of his own optimism and hope. He rekindled a sense of the possible, rescuing America from defeatism and restoring our confidence and pride in this great nation. That transformation of America was possible chiefly because of Reagan’s unshakable faith in the power of ideas. Reflecting his strong conviction in freedom, Reagan pointed out in his address to students at Moscow State University in May 1988: Freedom is the right to question and change the established way …
The U.S. Department of Transportation imposed new regulations on airlines Jan. 24 that were supposed to benefit consumers. The rules require all government taxes and fees to be included in advertised fares and allow passengers to withhold payment for 24 hours after making a reservation, if it’s one week before the flight’s departure. Some consumers might be jumping for joy that the nanny state is imposing new rules on airlines. But for low-cost carries like Spirit Airlines, Southwest Airlines and Allegiant Air, it’s grounds for a lawsuit against the federal …
Two well-connected government unions in California are teaming with Gov. Jerry Brown to support a multibillion-dollar tax increase. The California Teachers Association and Service Employees International Union were the top two spenders for lobbying in 2011 with combined efforts totaling more than $10 million, according to Sacramento Bee. Now they’re using their muscle to champion Brown’s tax hike. Brown’s plan “would raise tens of billions of dollars by temporarily increasing the sales tax and the income tax on wealthy Californians, generating about $35 billion over five years,” according to the …
