As I reported here the other day, the White House has endorsed an immigration reform bill by Sens. Cotton and Perdue, known as the RAISE Act. The bill seems to be already drawing both support and fierce opposition. CNN White House correspondent Jim Acosta was so upset about the Trump administration’s endorsement of the bill that he picked a fight with Trump’s senior policy adviser Stephen Miller during the latter’s press conference.
Last night’s blog post was titled, “You Can’t Fix It If You Don’t Understand It,” in which I showed that the industry lobbyists are so deft at presenting a misleading view of the H-1B work visa, and policymakers and worker advocates are so uninformed, that effective reform is impossible.
For the past 40 years, our political leaders have not only allowed, but have deliberately effectuated economic polices that have crammed most of the profits generated by ordinary working people into the pockets of those at the very tippy-top of the income ladder — by conspiring against organized labor, giving preferential tax breaks to the very wealthy, and by allowing bad trade deals to offshore our best jobs.
Americans Don't Want It. Analysis Shows It Hurts People. Yet Congress and This President Could Care Less. What's fascinating is how we've seen this dance before and no matter how many put up a fight, more disastrous trade treaties get passed and enacted into law anyway.
Want to know how to create up to 5.8 million jobs in three years? End currency manipulation. So says a new study released from the Economic Policy Institute. If currency manipulation was stopped, the U.S. trade deficit would shrink by up to $500 billion in three years, annual GDP would increase up to $720 billion, the federal budget deficit would be reduced by $100 billion each year and 40% of the new jobs created would be in manufacturing.
The amount of cash multinational corporations are stashing is at an all time high and economists are wondering why. A recent Federal Reserve research paper examined some of the reasons. A big one is multinationals pay no taxes on profits if they park them offshore. A stash of cash is building and the miser pile is now a mountain.
Have you seen the economic recovery? I haven’t either. But it is bound to be around here somewhere, because the National Bureau of Economic Research spotted it in June 2009, four and one-half years ago.
The latest budget deal does not extend unemployment benefits for some of the long term unemployed. This means without some Congressional action, unemployment benefits will only be available for 26 weeks in 2014. The current average time to be officially unemployed is 37.2 weeks, far exceeding the time one can receive regular unemployment insurance benefits in most states.
Congress at the midnight hour has passed a deal to re-open the government and raise the debt ceiling, yet this deal is amazingly short lived. The political theater has been unbelievable and once again the problem with America's economy is completely irresponsible politics versus external events. Instead of focusing in on the responsible thing, which of course is to not destroy the United States and global economy, the press is now having a field day with who blinked first in this very dangerous game of political chicken.
Brought to you by the GOP - Manufacturing artificial crises one at a time to rob you blind....again.
Good Morning! Rise and Shine! Get that Cup O' Joe...
break out the O.J....hang out with the pooch...for it's time to check out the funny slams and bams of government shutdown and economic Armageddon.
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