It's national election season, which means perspective on the economy is badly needed. Thanks to Rossputin for highlighting this article from economists Brian Wesbury and Robert Stein. Read the whole thing for yourself, but interesting tidbits are that family income last year hit its first all-time high in 7 years, income inequality declined faster than at any point in the previous 45 years, and the poverty rate stayed below its pre-1999 norms. Yes, economic growth has lagged, causing the country to flirt with recession. But according to Wesbury and Stein, "these figures bolster the case that the underlying fundamentals of the US economy were sound in 2007, before the Federal Reserve decided to try to inflate our way out of financial … [Read more...]
Bob Ewegen Uses Less Than Complete Facts to Attack Right-to-Work
In his weekend column, liberal Denver Post editorialist Bob Ewegen carried the water for Big Labor leaders who are working to undermine Colorado's Right-to-Work initiative. Once you move past his weak attempt at irony, you find problems with the facts he chose to use to make his case:If you're lucky enough to find a job at all, the only right the Coors plan gives you is the right to work for less. Quite a bit less, actually. The U.S. Bureau of Labor Statistics reports that an average worker in the 22 states with right-to-work laws earns about $7,131 a year less than workers in free bargaining states ($30,656 versus $37,787). Nationwide, union members earn $9,308 a year more than non-union workers, $41,652 versus $32,344. These facts … [Read more...]