Search Results
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Our Economic Terminators
Last week, the New York Times penned a paean to Citigroup executive Bob Rubin, gushing about how amazingly wonderful his power and influence is inside the Democratic Party, and noting that the incoming Obama administration is heavily influenced both by...
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BLOOMBERG NEWS: Paulson Plan To Mostly Benefit His Old Cronies at Goldman Sachs
You can't make this stuff up: Paulson Debt Plan May Benefit Mostly Goldman, Morgan Sept. 22 (Bloomberg) -- Goldman Sachs Group Inc. and Morgan Stanley may be among the biggest beneficiaries of the $700 billion U.S. plan to buy assets...
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Free-Market Fundamentalist for Senate
Here's Colorado GOP senate candidate Bob Schaffer on the economy in today's Denver Post: "The dead hand of government is the biggest problem in general," Schaffer said of the country's economy, in pull-no-punches terms...Schaffer sees in the next Congress a...
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Paulson Opposes Any Help for Foreclosed Families; Obama & Mcain Trumpet Support from the "Serious"
Just adding to Matt and Paul's earlier posts, the Associated Press's big headline this morning is "Paulson: Don't Add Households to Financial Bailout Bill." The story reports that Paulson is opposing efforts to add any aid for foreclosed families to...
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The Picture of Minimalism
You want to understand what Barack Obama's "minimalism" on economic issues really looks like? Then take a look at this picture of Obama's emergency economic meeting on Friday, and look at the guy sitting directly to Obama's left. Yes, that's...
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Not the Time for Obama's "Minimalism"
The most amazing facet of the presidential campaign is not how close the overall race is, but how close the polls are specifically on economic issues. The Washington Post's poll a few days ago showed John McCain just 5 points...
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Larry Kudlow Blames Poor People for Wall Street Meltdown
Former Regan official Larry Kudlow took to CNBC today to blame poor people for the Wall Street meltdown: Conservatives really have no shame....
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Morning Dose of Bad News
The front page of the Wall Street Journal today: Worst Crisis Since '30s, With No End Yet in Sight The financial crisis that began 13 months ago has entered a new, far more serious phase. Lingering hopes that the damage...
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McCain, Obama & Wall Street "Reform": The Good, Bad & Ugly
With the presidential campaigns issuing competing press releases about the weekend's Wall Street meltdown, it's instructive to step back from the partisan sniping, take a look at the empirical record, and therefore try to get a handle on who, in...
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McCain Campaign Cites America's Richest County As Proof Trade/Econ Policies Are Working
FYI - As part of the Campaign for America's Future's new weekly Trade Report, we caught this snippet from Virgina. Yes, that's right, the McCain campaign is citing the wealthiest county in America as proof that the government's economic and...
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Obama Pushes Off Payroll Tax Reform Promise
Here's the Associated Press in June: Democrat Barack Obama said Friday he would apply the Social Security payroll tax to all annual incomes above $250,000, which would affect the wealthiest 3 percent of Americans. It seemed like a pretty courageous...
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Breathe Easy, Everyone - Obama Is Now Courting the Most Critical Constituency
Everyone rest easy - we can all breathe a deep sigh of relief, as the Obama campaign aggressively moves to court the CEO vote, according to today's Wall Street Journal: Jason Furman, Barack Obama's economic-policy director, is spending this weekend...
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Corporations Draining Worker Pensions to Pay Exec Benefits
The Wall Street Journal has the gruesome details: At a time when scores of companies are freezing pensions for their workers, some are quietly converting their pension plans into resources to finance their executives' retirement benefits and pay. In recent...
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Teaching McCain Econ 101
Two terrific new videos from the Campaign for America's Future are out today. First is one attempting to teach John McCain some basic economics: The second makes a pretty funny - and powerful - point about the health industry:...
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Will the Elite Pay Their Fair Share?
New York, home to the wealthiest people in human history, is now facing a major budget problem, forcing the new Gov. David Paterson to decide whether to gut health care and social services for the poor, or raise taxes on...
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What's Right and Wrong With This Picture
This is a photo from Barack Obama's meeting of economic advisers. The good news is the woman sitting right next to him - that's Anna Burger of SEIU. Not pictured but also there is the AFL-CIO's John Sweeney. That...
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Six Words for Better Wages...And Why We Need to Promote Ideological Warriors
Two weeks ago, I met with my friend Tom Geoghegan, the single best writer and thinker on labor issues in America, and a guy who should be a leading choice for Secretary of Labor in a Democratic administration. I turned...
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The Hostile Takeover of Tax Enforcement
In case you thought the hostile takeover of our government by Big Money interests ended with the 2006 election, think again: "Pentagon contractors under scrutiny for setting up shell corporations in offshore tax havens are looking to the Senate as...
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Should Banks Be Able to Ignore the Law?
Harvard's Elizabeth Warren shows how banks believe they should be able to ignore state laws - and how some Democrats are trying to invoke some law and order....
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Exxon ONLY Makes $10.9 Billion
Wall Street is apparently lamenting the fact that ExxonMobil ONLY made $10.9 billion last quarter....
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Wow, Populism Proves Popular
It always amazes me when political reporters and operatives seem so surprised that populism is popular. Here's what I'm talking about....
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Chart of the Day: Corporate Taxes Declining
EPI has the chart showing corporate taxes going down as economic inequality increases....
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Who Gets Us Out of This Mess?
Bob Borosage on who we should - and should not - be looking to to get us out of this financial/credit mess....
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$344,683 While Pleading Poverty
Wall Street has been pleading poverty to the point of asking for government bailouts. And yet, we get this from Dow JOnes: NEW YORK -(Dow Jones)- Despite the massive write-downs, subprime mess and credit crunch seeping out of Wall Street...
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New NY Gov Starts Off By Defending the Wealthy
Going to bat for New York's super-rich is not a great way to start off as governor....
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What The Fed Really Did
For many folks, the term "The Fed" induces drowsiness. It sounds like such a boring institution, dealing in stuff like interest rates and basis points that seem so academic. But as I explain in my newspaper column out today, while...
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The Archie Bunker Divide
Bloomberg News has a decent story on the so-called Archie Bunker Divide. Incidentally, I spend a lot of my upcoming book looking at "Archie Bunker" politics....
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Populism Picks Up Steam
At least one Beltway publication notices the rise of populism as a political and legislative force....
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Study: Usury Prospers In Religious Right Strongholds
But I thought usury was a sin in the Bible?...
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Right to Work for Less Hits Colorado
Out-of-state special interests are launching a so-called "Right to Work" (read: right to work for less) ballot initiative here in Colorado. Here's the details from the AFL-CIO....
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Service Sector Job Losses
The Associated Press has the scoop: "Lingering hopes that the U.S. economy might avert a recession withered Tuesday after the nation's service sector -- its banks, travel companies, contractors and stores, among others -- shrank for the first time in...
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Bad Economic News
Very bad....
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Economy In Super Tuesday States Not So Super
Check out this new EPI report....
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A Precedent-Setting Day In American History
The History Channel reminds us of the infamy of today, January 29, in the annals of American history: "On this day in 1834, Andrew Jackson becomes the first president to use federal troops to quell labor unrest. Workers building the...
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Dude, Where'd That $70 Billion Go?
The newswires are ablaze with word that Congress has reached agreement on a "stimulus" package. While Democrats work making the tax rebates more progressive is certainly admirable, here's the key thing you need to know - the package includes no...
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Class Politics Goes National
Economic class is the taboo subject in American politics, to the point where the word "class" itself has been made into something of an epithet by politicians deriding opponents for supposedly waging "class warfare." Of course, most often, those deriding...
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The Edwards Effect
I'd say this is one of the many positive effects of the John Edwards campaign....
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This Is Not Good News
Though predictable, this is not good news: "WASHINGTON -- Alarmed at the increasingly populist tone of the 2008 political campaign, the president of the U.S. Chamber of Commerce is set to issue a fiery promise to spend millions of dollars...
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David Simon On the American Class War
Pretty interesting speech from David Simon, creator of HBO's The Wire....
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Gauging the Fear Inside the Palace Walls
A pretty reliable gauge of Establishment fear is how far away from factual reality its chief spokesmen stray at election time. With economic populism now driving both the Democratic and Republican presidential contests, professional political pontificators in Washington are attacking...
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When The Old Tricks Stop Working
The Republican Party elite in Washington, D.C. are really freaking out....
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Can We Restore the Public's Confidence In Government?
In my new nationally syndicated column out today, I explore the root cause of America's anger at our federal government and the growing embrace of conspiracy theories - trends displayed in recent Scripps Howard/Ohio University studies. It is not just...
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Labor Board Changes Mission
American Rights at Work has the scoop on how the National Labor Relations Board is now so dominated by Bush cronies that it is almost completely divorcing itself from its statutory mission - all on behalf of corporate interests....
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AMT Shenanigans Are Train Wreck for States
The Great Falls Tribune has an interesting angle on the Alternative Minimum Tax issue, and how it congressional delays are an upcoming train wreck for states: Congress' inability to solve the problem threatens to create another colossal unintended consequence: delaying...
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Mark Kleiman Is Making Sense
From his post over at the Reality-Based Community on why the Wall Street Republicans are so afraid of Republican presidential frontrunner Mike Huckabee: "Some of it is class prejudice, social snobbery masquerading as intellectual snobbery...If you went to Harvard, it's...
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Fortune: Voters Want Pols to Fight the Hostile Takeover
From Fortune magazine: "Edwards, in particular, has hit on an effective formula with populist-minded Iowans: While the two frontrunners, Obama and Clinton, stab-wound each other, Edwards catches attention by dropping a bomb on corporate America. On Thursday, a focus group...
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NY Times Promotes My Column on the AMT
Not a bad hit, actually....
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AMT Fight As Commentary on the Capitulation Congress
The story of the Alternative Minimum Tax (AMT) really is the story of the downward spiral of American politics. It goes like everything else: Good policy from decades ago slowly loses its progressivity and when Congress is forced to "fix"...
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REPORT: Labor Department Being Used to Undermine Labor
Scott Lilly at the Center for American Progress has a stunning new report out on how the Bush Labor Department is being deployed to undermine labor unions. The Washington Post did a story on Scott's report here. You can read...
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TAKE ACTION: Join Robert Greenwald & Brave New Films In Fighting the War On Greed
I'm heading off for 4 days of isolation to get in a bit of a rest before the final push to finish my book. Matt Stoller of OpenLeft will be guest posting for me here, but before I left, I...
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Colorado: The Place Where the GOP Thinks It's OK To Hate Workers
If ever there was a single newspaper story that showed just how much today's Republican Party hates working people, this Rocky Mountain News story is it. The headline reads "Right to Strike in Colorado Paid With Blood," and documents...
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Predatory Vultures
Flying home from my event in Oakland, I caught this on the front page of the San Francisco Chronicle. It really makes your head explode - first the predatory lenders suck people into subprime mortgages, and then when a debtor...
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Labor Department Shenanigans
My old colleague Scott Lilly has a new report over at the Center for American Progress about shenanigans at the Bush Labor Department. Check it out....
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Business to CO GOP: "Where's The Evidence" To Back Up Attacks On Ritter?
Last week, I appeared on Colorado statewide television to debate Gov. Bill Ritter's recent executive order giving state workers the right to join state-recognized employee partnership associations - that is, to give workers a bigger voice, and join the majority...
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Anti-Tax Coalition Continues to Fray In the West
A few weeks ago, I penned a column about how the right's anti-tax, anti-government coalition was fraying apart - even in the Rocky Mountain West. In light of that, check out this story from the Las Vegas Review-Journal about how...
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The Bob Rubin Effect
Chris Hayes picks up an interesting - and depressing - tidbit....
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Going to Bat for Worker Rights
Independent Thinking - 11/8/07Add to My Profile | More Videos Here's the video of my debate with Independence Institute president Jon Caldara and Republican House Whip Cory Gardner over Gov. Bill Ritter's (D-CO) modest move last week to allow workers...
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CO GOP Strategy: Just Make Stuff Up
The red-baiting insanity of the Colorado Republican Party is really a stunning spectacle. It's so over the top, I have to wonder whether it is parody - like a bad Saturday Night Live skit. In the wake of Gov. Bill...
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Ritter Steps Up for Worker Rights
In an exclusive interview on Jay Marvin's radio show this morning, Colorado Gov. Bill Ritter (D) defended his decision to stand up for workers and grant public employees the right to vote to form collective bargaining organizations, if they so...
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Loan Sharks Giving Big to Dems
From the Columbia State: "Donations plentiful to candidates in midst of possible predatory lending regulation...Payday lenders have given nearly $64,000 to the 2008 candidates for president, with a vast majority of that going to Democrats, many of whom have accused...
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Sanders on Richistan
Watch Sen. Bernie Sanders (I-VT) head to the floor of the Senate and laments the plight of billionaires who are only able to afford $180,000 a year on wristwatches. Yes, he says, that they are only able to spend that...
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Obama Camp Feigns Outrage, Distracting From Obama's Vote to Allow Loan Sharking
The Obama campaign is attacking the Washington Post's Harold Meyerson for saying that Obama voted for the credit card industry-written Bankruptcy Bill in 2005, which is not true. Obama voted against the final bill. However, Obama did, in fact, vote...
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The Substitution of Identity Politics for Class Politics
Per my ongoing posts about the blogosphere and netroots' lack of class-based politics in favor of more of a bourgeois focus, note this excerpt from the recent In These Times article on labor history: "Others contend that the study of...
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The Bourgeois Blogosphere, Part II
Last week, I wrote a post about how many of the progressive blogosphere's leading voices tend to write about things from a very narrow, bourgeois point of view. Here is just one example of that, from Kevin Drum at the...
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H-1Bs And the Triumph of Buypartisanship
To really see the sheer corruption of our political process, you have to look at the lies that simply refuse to go away in the face of overwhelming facts - the myths that are utterly and completely untrue, yet which...
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Labor's Untold Story Starting to Get Told
In researching my upcoming book, The Uprising, I was taken aback by how buried the history of the labor movement is in American culture. It is almost a lost history at this point. We are led to believe that the...
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FedEx Workers Get Union Status
Score one for the good guys: "In a major development, Judge Robert Miller of U.S. District Court for Northern Indiana, today granted class certification on behalf of approximately 14,000 current FedEx Ground/Home Delivery drivers -- as well as upwards of...
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Your Glorious Economy At Work
From the good folks at WashTech, who are featured prominently in my upcoming book: "SEATTLE - AT&T mobility informed its nationwide help desk employees that their jobs will be outsourced to IBM beginning next year. The company told the employees...
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"Not With a Bang, But a Whimper"
That's how revolutions end - not with a bang, but with a whimper. And that goes for the Republicans' 30-year anti-tax revolution. As my new nationally syndicated column today shows, the public is finally turning away from the me-first economic...
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Preserving "A Tax Loophole the Size of A Mack Truck"
This week, congressional Democrats proudly hoisted the white flag of surrender when it came to tax fairness, officially shelving a modest proposal to force billionaire hedge fund managers to pay the same tax rates as the janitors who clean their...
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They Work for Billionaires
There is no more blatant sign that the Congress works for billionaires than this Washington Post dispatch: "Senate Majority Leader Harry M. Reid (D-Nev.) has told private-equity firms in recent weeks that a tax-hike proposal they have spent millions of...
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These Are Times That Try Progressives' Souls
It is frustrating being part of the progressive movement these days - truly frustrating. And I say that not because I am on book deadline and exhausted, but because of what I have been reporting on for the book (which...
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Greenspan Says Solution to Inequality Is to Lower U.S. Wages
Former Federal Reserve Chairman Alan Greenspan has been in the news lately trying to pretend he's had nothing to do with the slow-motion economic meltdown America is currently experiencing in the housing, job and labor market. But he is still...
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1994 Redux: The Consequences of Dems' New NAFTA
UPDATE: Bloomberg News is now reporting the Senate Finance Committee this morning backed the "free-trade agreement between the U.S. and Peru, approving the deal without amendment...The committee voted 18 to 3 in favor of the agreement." My latest weekly newspaper...
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"Wal-Mart Breaks the Law, Gets Punished, Wins Anyway"
A depressing must-read in the Las Vegas Sun is headlined "Wal-Mart Breaks the Law, Gets Punished, Wins Anyway." Check it out here....
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Ho Hum...More Editorial Board Attacks On Workers
From the Department of The Media Is Not Liberal At All, check out this editorial and this editorial. The former says "paid family leave is still an ugly idea" the latter says it is "inexplicable" that Colorado Gov. Bill Ritter...
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Cartoon of the Day
A great cartoon, courtesy of the Flathead Beacon....
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Big Business Hits Panic Button Over Tax Reform
Harvard's Elizabeth Warren has the scoop on Big Business hitting the panic button over Democrats potential plans to make the tax system more fair. Corporate America has gotten so used to owning the entire political debate that it is now...
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The Unfairness of America's Bankruptcy Laws
Remember how a few years ago Congress passed a bill trying to turn people who go bankrupt into indentured servants to the credit card industry? Big surprise - that same harsh bankruptcy treatment is not applicable to big corporations. Apparently...
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CLAIM vs. FACT: Why Do Colorado Cons Insist On Lying About Unions?
It looks like the automatons who make up Colorado's branch of the right-wing dittohead machine is up and humming here this week. Yesterday, we saw a fact-free corporate press release re-written as a column discussing the supposed benefits and fairness...
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The GOP's "Right to Work" vs. Your Right to Know the Facts
The Denver Post's resident "me first, everyone else be damned" conservative David Harsanyi does his best stenographer routine today, using his column to promote Aurora City Councilman Ryan Frasier's (R) so-called "right to work" ballot initiative which proposes to force...
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Discovering Labor's Untold Story: A Labor Day Reading List
Last night, I officially turned in 70 percent of my next book. Its working title is The Uprising and it is scheduled to be released in the Spring of 2008. I won't say much more about it now, other than...
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Disturbing Trends In the Construction Industry
A new Labor Day report by the Transportation Equity Network highlights some disturbing trends in the construction industry. Here's the key excerpts from the press release: "Though it comes at a time when transportation-related construction work is booming, this Labor...
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A Sad Benchmark: Chinese Communists Teach American Capitalists Econ 101
There's something really, well, sad about America having to learn its lessons about the free market from communist China. But hey - a lesson is a lesson, right? In a business section story, the New York Times reports on the...
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More On the '08 Economic Debate
Been on a plane most of the day. My brother is getting married, so I'm gonna be out of pocket for the weekend. In the meantime, check out the full Edwards speech that I excerpted earlier this morning. Also, The...
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White House: Wealth Inequality "Is Not A Very Interesting Story"
The New York Times reports that according to new government data, "Americans earned a smaller average income in 2005 than in 2000, the fifth consecutive year that they had to make ends meet with less money than at the peak...
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Sunday Review: The Good, the Bad, the Ugly and the Hilarious If It Wasn't So Sad
Catching up on my Colorado and national news this Sunday, I caught this week's Good, Bad, Ugly and Hilarious-If-It-Wasn't-So-Sad. Without further ado, here's a roundup....
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Ha! Silly Me - I Should Know Michael Barone Is Too Important to Do Actual "Research"
Michael Barone is one of Washington's leading Cadillac Conservatives - a man who married into a billionaire family and who now spends his days attacking blue-collar American workers. This is not news, and his column this week attacking blue-collar workers...
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Cons' Catch-22: Creating Problems That Supposedly Justify Creating More Problems
You've got to hand it to conservatives, they have a brilliant way of using the problems they create to justify creating more problems....
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Big Business Group: We Have "No Desire" For So-Called "Right to Work" Laws
Conservatives just love to claim that so-called "Right to Work" laws (aka. Right to Get Abused By Your Employer laws) are good for business. Yes, the Grover Norquists and right-wing pundits of the world tell us, businesses are desperate for...
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BLOOMBERG NEWS: Edwards Trade Focus Is Strengthening Unions
Per my post last week on whether and if labor is going to endorse in the 2008 presidential race, check out this Bloomberg News piece today. Note the last few paragraphs where the article discusses how Edwards' populism is actually...
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AP: Edwards Connects Corruption to NAFTA, Drawing Distinction With Clinton
Every campaign season, there are moments that get remembered far beyond their news cycle, and sometimes beyond even their particular election. It looks like Hillary Clinton's gaffe at YearlyKos defending lobbyists may go down as one of those moments. Here's...
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Bush Nominee Blocked After He Pushes $30B Tax Break for Wal-Mart
Last week, U.S. Senator Bernie Sanders (I-VT) grilled White House budget director nominee Jim Nussle at Nussle's Senate confirmation hearing. The interchange, which you can watch here, was absolutely extraordinary. Sanders forced Nussle to go on record admitting that at...
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More Rocky Mountain Republicans Rejecting Grover Norquist-ism
Over the last month, I've written a series of posts about how Rocky Mountain voters - and even some Rocky Mountain Republican officials - are rejecting the Washington-based conservative movement's economic zealotry, and specifically its cut-taxes-at-all-cost religion. Now it looks...
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Brown Leads Fight for New Worker Protections
This (excerpted) press release just came over the transom: Washington, DC – U.S. Senator Sherrod Brown, joined by Senators Barack Obama (D-IL) and Hillary Rodham Clinton (D-NY), late last night introduced new legislation that would notify workers of mass firings...
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Webb - Dems Future Lies In Rejecting Rubin Wing; Is Obama Listening?
Following the New York Times' belated report on how economic populism is on the rise in the Democratic Party, I caught this from Virginia Sen. Jim Webb (D) in today's Washington Times: "He criticized what he called 'the Rubin wing...
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More Proof the West Is A Heckuva Lot More Colorful Than Red vs. Blue
From the Rocky Mountain West's Department of Shifting Politics comes dispatches out of Boise and Ft. Collins that show, once again, how fractured the old Republican coalition has become, and how many opportunities there are for Democrats - if they...
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Crowley: People Making "Well Over $100,000…Are Struggling"
New York Rep. Joe Crowley (D) - aka. Congressman Biff Tannen (D-Back to the Future) - tells the Hill Newspaper today that people "making well over $100,000" in New York City are "struggling." Now, I know New York is very...
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As Predicted, A Hostile Takeover of the Supreme Court
Back when George Bush was nominating people like John Roberts and Sam Alito to the Supreme Court, I wrote a series of posts (here's one) wondering why Democrats and progressives weren't focusing more on what these two right-wing nominees would...
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Anti-Union Effort Launches in Colorado
Colorado Confidential has the scoop here and here on the latest anti-union effort here in Colorado. Though polls show the public opposes the substance of so-called "Right to Work" laws, it's pretty clear the conservative movement is going to push...
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