NRN - The Daily Wrap-Up

June 24, 2010
5:00 PM Eastern


Good Thursday Afternoon -

Ken Salazar should be asked about his job loss projections before filing appeal to reinstate drilling ban. From NRD Contributing Editor Kevin Mooney, "The moratorium could cost 3,000 to 6,000 Louisiana jobs in the next two to three weeks alone, and potentially 10,000 in the coming months. To put that in context, the entire U.S. economy created only 41,000 new private jobs in May, according to the Louisiana Department of Economic Development." Much more information if you continue reading.

Is the welfare state a Ponzi scheme? From Howard Rich, "Ponzi schemes rely on people falling for promises that are literally too good to be true — but the outcomes are never really in doubt for the perpetrators of these scams, are they? First they are playing with money that does not belong to them — which means they cannot lose. Also, when the scams finally unravel, the perpetrators have invariably moved on to their next group of unsuspecting victims — where the fleecing begins anew."

Cartoon of the day, "Standing up to the General".

$10 billion public union bailout in war supplemental bill. According to ALG President Bill Wilson, "Now is not the time to play politics with the war supplemental.  House Democrats are holding back critical resources for our fighting men and women on the front lines in Afghanistan and Iraq so they can finagle another $10 billion for bankrupt states that refuse to cut unsustainable education funding in these troubled economic times."

Extending misery. From Robert Romano, "Debate continues in the Senate over a controversial $35.52 billion extension of unemployment welfare benefits as Senate Democrats continue to struggle to find the votes necessary to overcome a filibuster. Joining Republicans in defeating the measure last week were Senators Joe Lieberman and Ben Nelson, citing concerns that the combined legislation, which includes $24 billion for Medicaid expansion, would add $60 billion to the $13 trillion national debt."

Rasmussen Reports: Half of Americans see government as a threat to individual rights. From RR, "Nearly half of American Adults see the government today as a threat to individual rights rather than a protector of those rights. The latest Rasmussen Reports national telephone survey finds that 48% of Adults see the government today as a threat to rights. Thirty-seven percent (37%) hold the opposite view. Fifteen percent (15%) are undecided."

Blago Trial: Obama had 4 possible successors in mind for Senate seat

Stossel: Guns save lives. From Reason, "…while we hear about the murders and accidents, we don't often hear about the crimes stopped because would-be victims showed a gun and scared criminals away. Those thwarted crimes and lives saved usually aren't reported to police (sometimes for fear the gun will be confiscated), and when they are reported, the media tend to ignore them. No bang, no news."

Fred Barnes: Unions are part of the problem, not part of the solution. From the Weekly Standard, "Unions spur unemployment, and "there is no question" about it. "High union wages that exceed the competitive market rate are likely to cause job losses in the unionized sector of the economy." That is the unvarnished conclusion of one of the country's most admired economists. From 1970 to 1985, a state with average unionization had a rate of unemployment 1.2 percentage points higher than a state with no unions. This represented "about 60 percent of the increase in normal unemployment" in that period." Keep reading, it's worth it.