A recent study estimated that the $800 billion stimulus package destroyed around 550,000 jobs.
Senior Counsel Hans Bader comments.
"While pushing the stimulus package through Congress, Obama cited claims by the Congressional Budget Office (CBO) that it would save jobs in the short run, while ignoring the CBO’s own conclusion that the stimulus package will actually shrink the economy over the long run, by increasing the national debt and thus crowding out private investment. Contrary to the CBO’s findings, Obama claimed that 'irreversible decline' would occur if the stimulus was not enacted into law."
AFL-CIO President Richard Trumka has threatened to pull support from Democratic candidates in the 2012 election.
"Trumka’s threats ring hollow. It’s not like the Obama administration hasn’t been trying to advance Big Labor’s agenda. It’s been Republican opposition in Congress that has thwarted card check legislation and the confirmation of some pro-union executive branch nominees. Yet it seems that Trumka still had to find some reason to throw a public tantrum."
Environmentalists have launched a campaign against bunker fuel, the high-viscosity fuel used by large cruise ships, container ships, and tankers.
"The maritime shipping industry is the most crucial element of global trade. Besides petroleum and chemical tankers and other large cargo vessels, container ships make up a significant percentage of the world’s commercial maritime fleet. A single container ship can carry thousands of twenty-foot equivalent unit (TEU) containers. The Ebba Mærsk, for instance, has a cargo capacity of more than 15,000 TEU. Each of these intermodal containers is the size of a truck trailer. All of this cargo is moved with a crew of only 13.
If that’s not efficient transportation, I don’t know what is. But the greens don’t care. They would rather crush this industry, and global trade and all the benefits that trade entails, than support the world’s most efficient, environmentally friendly form of bulk cargo transport over long distances."