Word: wages
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...course for the next two months. House Democrats refused to replace their No. 2, the moderate Steny Hoyer, with the antiwar Jack Murtha. Speaker Nancy Pelosi emphasized her maternal and grandmaternal qualities as she shepherded through the House a modest and popular agenda of ethics reform, a minimum-wage hike and cheaper drugs for seniors. The Democratic presidential flavor of the month in the shopping season before Christmas was the fresh-faced, not-too-partisan Barack Obama...
...problem with excessive monetary and debt growth is that it always leads to inflation in one sector of the economy or another. In the 1960s we had wage inflation, in the 1970s consumer price inflation, and now we are in the throes of breakneck asset inflation. But every type of inflation eventually ends. And when assets deflate, economic activity will suffer. Business slows, lenders call in their debts, companies go bankrupt-all of which is bad news for stocks, especially those that are priced as if risk no longer existed. Economic history is littered with periods of asset inflation that...
...challenge is different when his party is in charge. The newly empowered Democratic committee chairs are aching to flex their muscles. Labor chairman Edward Kennedy wants to write a "clean" bill raising the minimum wage, but Reid doubts it could pass without including tax breaks for business that Republicans are demanding. Even Reid's freshmen are uppity. When he called Virginia's Senator Jim Webb to inform him of his committee assignments--the standard backwater spots that junior members are usually consigned to--Webb demanded "A" assignments on both Armed Services and Foreign Relations. Since Webb's surprise victory gave...
...University’s security guards, like its other wage-earners, deserve a union in order to articulate labor grievances and to benefit from the power of collective bargaining. Salaries for the non-unionized guards have lagged behind those of unionized Harvard workers in recent years. In addition, some workers have complained of inadequate health-care benefits and a deficient grievance process. A new contract negotiated by SEIU on behalf of the guards will likely augment their paltry $11-per-hour salary and provide more comprehensive benefits...
...stings that one of their own, who has been elected and re-elected to the state's highest office, sides with the opposition on so many issues. Last year, while powerless G.O.P. legislators quietly seethed, Schwarzenegger cut deals with Democratic leaders to push through laws raising the state minimum wage, providing low-cost prescription drugs to uninsured indigents and putting strict limits on greenhouse gas emissions. It showed voters that the Republican Governor could play well with Democrats. And after a stumbling 2005 in which he alienated voters on all sides of the aisle with his misguided government reform agenda...