Is paying someone an annual salary, as opposed to an hourly wage, a form of exploitation even if the work is identical? President Obama thinks it can be. On March 13, Obama issued an Executive Order directing the Department of Labor to draft a regulation to expand the eligibility of salaried workers on federal contracts to receive overtime pay. The threshold would rise from the current $455 a week to an estimated $970 a week; employees making less effectively would be converted to hourly status and paid at an overtime rate for work done beyond 40 hours in a given week. The president insists the issue is fairness. "Overtime is a pretty simple idea," he said at the White House ceremony. "If you have to work more, you should get paid more." Yet the issue isn't so simple.
The Reverend Al Sharpton, anchorman, preacher, politician and shakedown artist extraordinaire, has led what can be viewed as a charmed life. A lengthy expose published yesterday on The Smoking Gun website (see pdf) provides some insight as to why. Starting in 1983, the New York-based civil rights activist, who 20 years later would run for president, allegedly worked for several years as an FBI informant so as to avoid prosecution for his own wrongdoing. In return for helping the feds root out organized crime from the entertainment industry, Sharpton has operated with near immunity. "The Rev" denies he worked as an informant, adding that the report simply rehashes "old news."
Remember President Obama promising “If you like your plan, you can keep your plan?” PolitiFact.com has identified 37 instances of Obama or another top administration official making this claim, or something close to it.
Today we received this email from United HealthCare informing us that our health plan that we like "will no longer be offered:"
Though union membership as a share of American workers continues its long decline, union officials in 2013 showed they're not the sort to stand on the sidelines, especially in the legal realm. Organized labor was unusually active last year in using the courts and Congress to press their interests. Their ultimate weapon: immigration amnesty/surge legislation. Eight members of the Senate, four from each party ("the Gang of Eight"), solicited advice exclusively from supporters of open borders in hopes of achieving their idea of "comprehensive reform." The Senators unveiled the measure in April and passed it by 68-32 in June, Yet the bill, deservedly, has stalled in the House. Drafted in secret, with no hearings or debate, it represents a corruption of the political process.
As a Democratic North Carolina congressman, Melvin Watt had a hand in creating the mortgage meltdown. Now he’s the new head of an agency charged with helping to reverse the meltdown. Irony is well and alive in Washington, D.C. Yesterday former Rep. Watt (in photo) was sworn in to a five-year term as director of the Federal Housing Finance Agency (FHFA), created in 2008 to oversee Fannie Mae and Freddie Mac. These two companies now hold or guarantee roughly $5.5 trillion in assets. The Democratic-majority Senate had confirmed Watt on December 10 by 57-41 following a failed effort in October to block a Republican filibuster.
Financial bailouts have become a fact of American life. Yet the biggest bailout of all may be in an unexpected place. Welcome to the island of Puerto Rico, home of photogenic beaches, lush forests, chic nightclubs, and less happily, at least $70 billion in public debt, more than double the sum from 2004. The U.S. mainland is yoked to this debt. Well over 50 domestic municipal bond funds have at least 10 percent of their assets invested in Puerto Rico. Worse, the island economy is in a prolonged recession. Unemployment has been running at around 15 percent. A third of residents are on food stamps. And migration to our shores is accelerating. Puerto Ricans for nearly a century have been U.S. citizens.
North Carolina Democratic Congressman Melvin Watt has a dream job: running a federal agency that controls around $5 trillion in financial assets. For now, he'll have to keep dreaming about it. On October 31, the Senate, by a 57-41 margin, fell three votes shy of the 60 votes needed to invoke cloture (i.e., end debate) over President Obama's nomination of Watt as director of the Federal Housing Finance Agency, which for over five years has been conservator for mortgage giants Fannie Mae and Freddie Mac. Republicans, with two exceptions, voted to filibuster, believing he wasn't qualified to run the agency. Yet the main problem with Watt is less his qualifications than his view that FHFA should be a permanent agency, and one with favoritism toward nonwhites.
Membership in the United Auto Workers has declined dramatically these past few decades. But its officials at last may have found a way to recapture the glory days: Team up with the Germans. Last month, Sen. Bob Corker, R-Tenn., alleged that an activist board member of Volkswagen Group forced the Wolfsburg, Germany-based automaker to disclose that it was negotiating with the UAW to unionize its Chattanooga assembly plant. This factory, like other foreign-owned plants in the South, is nonunion. The powerful German union, IG Metall, and VW management are backing the UAW's campaign to change that. The UAW recently announced that a majority of workers there had signed cards indicating their desire to join.
All too often, maintaining an enterprise, especially a new one, depends on knowing the right people in government from whom to acquire favors. Such an arrangement has come to be known as "cronyism." And it justifiably has its critics. Among them are Randall Holcombe and Andrea Castillo, authors of a brief, but potent and timely new book, "Liberalism and Cronyism: Two Rival Political and Economic Systems," published by the Mercatus Center, a think tank affiliated with George Mason University. Holcombe, a Florida State University economics professor, and Castillo, a Mercatus associate, view cronyism as the antithesis of liberalism.
The National Labor Relations Board now will have something it hasn't had in a decade: five full-term members. Just one hour ago, the full Senate approved all five nominees to the board following a deal two weeks ago to break a logjam over two recess appointments. And it's Republicans who appear to have been taken. On July 16, President Obama had named Democrats Nancy Schiffer and Kent Hirozawa to slots vacated by Sharon Block and Richard Griffin, the result of a federal appeals court ruling this past January. Schiffer until last year served as AFL-CIO associate general counsel; Hirozawa is chief counsel to current NLRB Chairman Mark Pearce.