Archive for July, 2017

Stagnant real wage growth is making me ‘a lot more bearish,’ a former Obama aide says – CNBC

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A worker assembles a Nissan Altima mid-size vehicle at the company's North America manufacturing plant in Canton, Mississippi.

He said the anemic real wage growth is troubling because it indicates a lack of competition among employers for labor, even in high-skilled positions. In a normal labor market nearing full employment, employers would be forced to increase their wages as labor becomes more scarce.

"In most parts of the economy, even in skilled jobs, we're just not seeing the kind of dramatic real wage growth, sustained real wage growth we need to see," Harris said.

Despite historic lows in the narrow U-3 measure of the unemployment rate, wages haven't increased to Harris' satisfaction. That discrepancy could indicate an increase in the number of Americans leaving the job market altogether, said Harris and Abby McCloskey, a former director of economic policy at the conservative American Enterprise Institute.

"It's really difficult to say we have a healthy labor market if workers aren't getting a raise and if more and more Americans are deciding to leave the workforce," the founder of McCloskey Policy said on "Squawk Box."

The economy is flashing warning signs, McCloskey said, in part because of the effects of various federal benefits programs, such as food stamps, Medicaid and Obamacare, that create a disincentive for Americans to enter the workforce. Her prescription for the Trump administration is to expand the earned income tax credit, a benefit program that eases tax burdens for low- and moderate-income households.

"Aside from broader tax reform," McCloskey said, a more robust earned income tax credit "would be one of the single biggest things the Trump administration could do to boost workforce participation rates and wages."

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Stagnant real wage growth is making me 'a lot more bearish,' a former Obama aide says - CNBC

Rand Paul: Republicans ‘Have Insufficient Confidence in What Made America Great’ – CNSNews.com


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Rand Paul: Republicans 'Have Insufficient Confidence in What Made America Great'
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Paul said he would like to separate the repeal and replace bills, although I think they could still be done concurrently. He doubts moderates would vote for a clean repeal bill without a simultaneous replacement plan. So, what I've suggested is ...
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Rand Paul: 'I don't think we're getting anywhere with the bill we have'The Hill
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Rand Paul: Republicans 'Have Insufficient Confidence in What Made America Great' - CNSNews.com

Rand Paul: Obamacare bill ‘a Christmas tree full of billion-dollar ornaments’ – Politico

Rand Paul pushed for the Senate to take up a straight repeal of the massive health care law and simultaneously consider legislation to replace it. | Getty

Sen. Rand Paul on Sunday criticized the current Senate GOP plan to repeal and replace Obamacare, likening legislation pushed by Majority Leader Mitch McConnell to a Christmas tree for its spending.

"Here's the problem. ... I don't think we're getting anywhere with the bill we have. We're at an impasse. Every time you add federal money, more spending, for the big-government Republicans, it offends the conservatives," Paul (R-Ky.) said on "Fox News Sunday." "So right now, this bill, which is not a repeal, has become the kitchen sink."

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"The bill is just being lit up like a Christmas tree full of billion-dollar ornaments, and it's not repeal," Paul said, referencing proposals used to win over moderate Republican senators, such as $45 billion to combat the opioid epidemic and potentially boosting subsidies or maintaining some of the law's taxes.

Instead, Paul pushed for the Senate to take up a straight repeal of the massive health care law and simultaneously consider legislation to replace it. President Donald Trump last week endorsed the idea that the Senate, failing a replacement, should first repeal the Affordable Care Act.

Paul and Nebraska Republican Sen. Ben Sasse both advocated the idea as the Senate put off a vote on its replacement plan.

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"Let's do clean repeal like we promised. I think you can get 52 Republicans for clean repeal," Paul said. "You can have a simultaneous bill or a concurrent bill that they can call replace and that, I think, perhaps if its big spending, they could probably get Democrats to go along with big spending."

"I'm not for that, but I'm saying I want repeal to work, and the way you do it is you separate it into two bills and you do it concurrently," he added.

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Rand Paul: Obamacare bill 'a Christmas tree full of billion-dollar ornaments' - Politico

Sen. Rand Paul’s ‘Read the Bills Act’ – Is it really too much to ask members of Congress to read legislation before … – Fox News

The median family income for a family of four in the United States these days is approximately$56,500. Members of the U.S. House of Representatives and the Senate earn$179,000 annually. Each chambers leadership makes even more: $193,400. For this kind of money, taxpayers -- who pay these salaries -- might expect their elected representative to do their jobs.

They dont.

Legislators are paid towell, legislate. Legislating means crafting policy proposals, meeting with constituents, holding legislative hearings, and, ultimately, voting. High school students who come to Washington, D.C., still get copies of that perennial civics favorite,How A Bill Becomes A Law.But that brochure never discloses the reality of the American legislative process and how it differs significantly from that cheerful civics description.

That situation is what prompted Senator Rand Paul, R-Kentucky, to again propose legislation, timed just as Senate Majority Leader Mitch McConnell introduced a new GOP-sponsored health-care-reform bill, mandating that Senators first read legislation before they vote on it. If you are an elected representative, shouldnt there be a presumption that before you decide how to vote, you actually know what youre voting on? Its not acceptable for members just to be told by their partys Whip how they should vote as they enter the chamber.

One of the more revealing comments in this regard was made by then Speaker of the House Nancy Pelosi who was commenting on the proposed Affordable Care Act. She remarkably said that, We have to pass the bill so that you can find out what is in it.

TheRead the Bills Act" was firstproposed in 2006. Senator Paul endorsed it in 2010 and proposedsimilar legislationin June 2012. If enacted, the bill would not only promote greater transparency in government by requiring that bills be posted publicly at least 72 hours before a vote, but it would also most certainly produce legislation that was clearer, more coherent, and much shorter.

The new Senate Republican health care proposal is 142 pages long. CNNs Wolf Blitzer asked Senator John Cornyn, R-Texas, on June 22 whether he had read the new proposal. Senator Cornyn held up the bound text, said that he hadnt yet read it, but announced that given its relative brevity, he planned to read the bill that evening. By contrast, the Obama administrations 2010 Affordable Care Act contained some2,700 pages, roughly the length of Marcel ProustsIn Search of Lost Time,one of the longest novels ever written. How many elected officials read that bill?

Is it really asking too much of our well-paid public servants in Washington to take the time to read and understand legislation before they vote on it? One of the more revealing comments in this regard was made by then Speaker of the House Nancy Pelosi who was commenting on the proposed Affordable Care Act. She remarkablysaid that,We have to pass the bill so that you can find out what is in it.At least she was being candid.

Pelosis remark, however, stands in sharp contrast to what Congress expects from others. For example, the 2003Sarbanes-Oxley Act(intended to protect investors from fraudulent accounting practices)requiresthat chief executives and chief financial officers of publicly traded companies certify with each quarterly-earnings report that they have read their report and that it is accurate. Failure to do so can result in stiff civil penalties and, under certain circumstances, criminal liability. A health-care bill that impacts nearly18percentof the countrys gross domestic product has the potential for creating far more harm than almost any corporate quarterly earnings report imaginable.

So why do so many members of Congress not take the time to read bills before they vote? Its probably not because they are lazy. These men and women are typically Type A, driven individuals. Its probably not because they are stupid or have short attention spans. You dont get to serve in Congress -- at least for very long -- if you are intellectually challenged.

The answer is much simpler: they dont have enough time. And the one reason they dont have enough time is because they spend an inordinate amount of their time dialing for dollars to fund their next reelection campaign. Some members of Congress have confessed to spending more than40 percent of their time raising money. American taxpayers, in effect, are subsidizing nonstop electioneering in a manner that precludes their elected representatives from doing their real jobs.

We need an overhaul of how our Congress works, and we can start by mandating that members certify that they have read legislation before they vote on it. Perhaps a more comprehensive bill, theMaking Congress Work for the American People Act,(withWorkhaving more than one meaning) should be considereda bill that addresses the multiple dysfunctions of our Congress. This legislation could include: (1) banning all fundraising by members whenever Congress is in session, (2) withholding pay from all members if appropriations bills are not completed on time, (3) posting all legislation publicly at least 72 hours before a vote, (4) using technology to track changes in the legislative drafting process to allow more public scrutiny and accountability, (5) extending the Congressional workweek beyond what has now become a routine three days, and (6) having fewer and shorter Congressional recesses.

Something tells me that members of Congress would read every word of this proposed bill. When traditional American pragmatism and common sense merge with todays resurgent populism on the left and the right, it is likely that members of Congress will change their ways and start delivering for the American people andnot just for themselves.

Charles Kolb is CEO of DisruptDC. From 1990-1992, he served as Deputy Assistant to the President for Domestic Policy in the George H.W. Bush White House, and from 1997-2012, he was president of the Committee for Economic Development.

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Sen. Rand Paul's 'Read the Bills Act' - Is it really too much to ask members of Congress to read legislation before ... - Fox News

Libertarian candidate enters Virginia gubernatorial fray – Loudoun Times-Mirror

A Libertarian Party candidate for governor has qualified to be on the ballot for November's general election in Virginia.

The Virginian-Pilot reports 34-year-old Cliff Hyra will join Democratic nominee Ralph Northam and Republican nominee Ed Gillespie on the Nov. 7 ballot. The Virginia Department of Elections confirmed Thursday that Hyra had qualified, following the submission of petitions bearing more than 10,000 signatures.

Hyra is a patent attorney from Hanover County and is running for elected office for the first time. He has a bachelor's degree in aerospace engineering from Virginia Tech and a law degree from George Mason University.

Libertarian Robert Sarvis collected less than 7 percent of the popular vote in the last Virginia gubernatorial contest.

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Libertarian candidate enters Virginia gubernatorial fray - Loudoun Times-Mirror