01/16/2019

News

Congo Opposition Candidate to Challenge Election Results

Democratic Republic of Congo opposition leader Martin Fayulu said Friday he will challenge the official election result at the country’s constitutional court, as one of his campaign aides claimed his candidate had won in a landslide. Preliminary results announced early Thursday by Congo’s electoral commission said another opposition leader, Felix Tshisekedi, had come first in […]

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Commentary: How Sweden Overcame Socialism

Nearly half of millennials say they prefer socialism to capitalism, but what do they mean? “My policies most closely resemble what we see in the U.K., in Norway, in Finland, in Sweden,” Rep. Alexandria Ocasio-Cortez told “60 Minutes.” Yet Sweden’s experiment with socialist policies was disastrous, and its economic success in recent decades is a […]

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South Korea Raised Taxes in Bid for Growth. So Far, It’s Not Working.

As President Trump leads a drive to slash taxes and pare back regulation, one major economy is taking a different approach. Under President Moon Jae-in, South Korea has raised taxes and the minimum wage in the name of economic growth. So far, it hasn’t worked out as planned. Growth has slowed, unemployment has risen and […]

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Newsom seeks changes across government in first budget

Enjoying the tailwinds of a massive surplus and large Democratic supermajorities in both houses, Gov. Gavin Newsom is using his first budget proposal to put his policy stamp on nearly every sector of California government. The Democratic governor described Thursday — in detail, for nearly two hours — how he would use his $209 billion […]

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The outlook is dim for Americans without college degrees

AMERICA’S AGEING economic boom can still produce pleasant surprises. Companies added an astonishing 312,000 new jobs in December, the Bureau of Labour Statistics reported on January 4th, and raised pay at the fastest clip in years. For the third of working-age Americans without any college education, such spells of rapid income growth have been exceedingly […]

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How Estimates of the Gig Economy Went Wrong

Two leading experts on the “gig economy” now say their estimates of its impact were too high, skewed by spotty data and the recession of a decade ago. Alan Krueger of Princeton University and Lawrence Katz of Harvard sifted through new evidence to explain how, in a 2015 survey, they overestimated how people cobbling together […]

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Tension mounts as Congo’s election commission delays results announcement

Congo’s historic yet disorganized election suffered yet another delay on Sunday as the election commission admitted it had tabulated only about half of results on the day it was supposed to have completed the count. It did not say when it would be able to release results. The delay fuels suspicions that the election commission […]

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U.S. sends troops in response to possible “violent” demonstrations in Congo

President Trump announced Friday evening that U.S. troops had been sent to Gabon to protect U.S. assets in the Democratic Republic of Congo, which is awaiting the first results of its presidential election. Mr. Trump wrote in a letter to House Speaker Nancy Pelosi Friday that around 80 personnel had been deployed to the capital […]

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A California Dream for Paid Leave Has an Old Problem: How to Pay for It

The United States has long been the only industrialized country not to offer paid leave to new parents. Instead of waiting for the federal government, the incoming governor of California intends to change that in a significant way for families in his state. He is expected to introduce a proposal to give families six months […]

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The economy is booming. Why are so many California schools broke?

Facing a $36 million deficit and a possible state takeover, the top budget officer at the Sacramento City Unified School District has a sober message for his counterparts around California. Sacramento is “just one of the first dominoes,” said John Quinto, the district’s chief business officer. By any measure, Sacramento City’s distress is worse than […]

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Developer accuses two construction unions of engaging in racketeering and extortion

A Los Angeles real estate developer has filed a lawsuit accusing two labor unions of violating federal racketeering and antitrust laws as they attempted to block the approval of a mixed-use complex in the San Fernando Valley. The Icon Co., which is seeking to build a $150-million project in Panorama City, said in its lawsuit […]

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California pot taxes lag as illegal market flourishes

Deep in Gov. Gavin Newsom’s new budget is a figure that says a lot about California’s shaky legal marijuana market: The state is expecting a lot less cash from cannabis taxes. The Democrat’s proposed spending plan, released Thursday, projects the state will bank $355 million in marijuana excise taxes by the end of June. That’s […]

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Windfall for California K-12 schools, more spending from early to higher ed in Newsom’s first budget

School districts laboring under higher mandated expenses would receive a surprise windfall — pension-cost relief — in Gov. Gavin Newsom’s first proposed state budget for 2019-20, which will also provide big spending increases for early and higher education. Using surplus money from the state’s General Fund, Newsom would wipe out $3 billion of districts’ rising […]

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It’s a big deal: Newsom’s housing budget, explained

From major funding increases for affordable housing, to his threat to take away any city’s transportation dollars if it doesn’t meet its housing quota, Newsom’s plans match the audacious ambitions he outlined in the campaign. “We are not playing small ball with housing,” said Newsom. Not that his plan includes everything (more on that later), […]

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Newsom offers some relief for hard hit schools

Gov. Newsom proposed a state budget yesterday that would give CalPERS an extra $3 billion to pay down debt and CalSTRS a potential extra $5.9 billion, most to pay down debt but also some for relief to schools hard hit by doubling pension costs. “We are investing an historic amount and doing what no previous […]

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