Sept. 23, 2016
It's a myth that public employees trade lower pay for pensions. Exploding salaries are driving pension costs upward. My book, "An Inquiry into the Nature and Causes of the Wealth of States," compared salaries for state jobs. In 2014, Texas prison guards earned an average of $38,775; in California, $83,877. For police, Texas averaged $60,573; California $96,131. Texas judges averaged $158,500, while California judges averaged $212,040. California employees came off as a Gilded Age aristocracy compared with their public service peers.
April 26, 2016
Growth has been so anemic for so long, we’re now being told that this is the “new normal.” As the Bureau of Labor Statistics put it, “annual U.S. GDP growth exceeding 3% … is not expected to be attainable over the coming decade.” It lists everything as a cause, except for one thing: federal regulations.
April 8, 2016
To little fanfare and virtually no media coverage, the Congressional Budget Office sharply downgraded its forecast for ObamaCare in its latest report, issued in late March. By just about every measure, things are looking worse than they did a year ago.
April 7, 2016
The Bay State, which hiked its minimum wage from $8 to $9 at the start of 2015 and to $10 on the first day of 2016, is now mired in its longest stretch of net job losses since the recession in both the retail and the leisure and hospitality sectors, Labor Department data show.
Feb. 4, 2016
Wherever cities implemented big minimum-wage hikes to $10 an hour or more last year, the latest data through December show that job creation downshifted to the slowest pace in at least five years.