Category Archives: Economics

Nevada Becomes 36th State to Ratify ERA. Is Arizona Next? (video)

Pamela Powers Hannley on ERA

“Arizona, I’m looking at you” to pass the Equal Rights Amendment, says Rep. Pamela Powers Hannley on the occasion of Nevada’s passage of the ERA.

Ratification of the Equal Rights Amendment (ERA) was proposed in eight states in 2017: Nevada, Arizona, Utah, Missouri, Virginia, Florida, North Carolina and Illinois. On March 22, 2017– the 45th anniversary of Congress starting the ratification process in 1972– Nevada became the 36th state in the US to ratify the ERA.

To make the ERA the next amendment to the US Constitution, we need two more states to ratify it and the Congress to extend the deadline, which they have done before.

On the Floor of the Arizona House on Wednesday, when I announced the ERA’s success in Nevada, I said, “Arizona, I’m looking at you.”

Arizona women deserve equality and equal pay for equal work. We won’t get that until we pass the Equal Rights Amendment because the ERA puts teeth in the Lily Ledbetter Fair Pay Act.

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The art of the tantrum: Trump gives do or die ultimatum to House Tea-Publicans for ‘Obamacare’ repeal

Donald Trump has a long history of fabricating his own myths about his ability of negotiating deals.

This political novice has no experience and no skills in legislating, and more importantly, no capital with those whom he is negotiating — he attacks Tea-publicans in Congress as easily as Democrats. He attacks anyone who does not immediately satisfy his petulant demands or dares to disagree with him.

What we have is a 70 year old man with a three year old’s child-like mentality, a man who throws tantrums to get his way, whether it is an early morning Twitter rage, or his latest tantrum: “Let me win or I will take my ball and go home!Trump delivers ultimatum to House Republicans: Pass health-care measure on Friday or he’ll move on:

President Trump delivered an ultimatum to House Republicans on Thursday night: Vote to approve the measure to overhaul the nation’s health-care system on the House floor Friday, or reject it and the president will move on to his other legislative priorities.

The president, through his aides in a closed-door meeting, signaled that the time for negotiations was over with rank-and-file Republicans who were meeting late at night on Capitol Hill to try to find common ground on the embattled package crafted by House Speaker Paul D. Ryan (R-Wis.).

The move was a high-risk gamble for the president and the speaker, who have invested significant political capital in passing legislation that would replace the 2010 Affordable Care Act. For Trump, who campaigned as a skilled negotiator capable of forging a good deal on behalf of Americans, it could either vindicate or undercut one of his signature claims.

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‘Trumpcare’ chaos: GOP doesn’t have the votes to repeal ‘Obamacare,’ no vote today

Tea-Publicans will not meet their artificial deadline of voting to repeal “Obamacare” on the anniversary of President Obama signing the Affordable Care Act into law. Ahhh, poor babies.

The Hill reports, GOP lawmakers leave Trump White House with no deal:

GOP lawmakers leaving the White House after a meeting with President Trump said they have not reached a deal that would allow them to support an ObamaCare repeal-and-replace bill set for a vote Thursday.

Republicans appear short of the 215 votes they’d need to win the tally. The Hill’s Whip List: 32 GOP no votes on ObamaCare repeal plan.

The members streaming out of the White House just after 1 p.m. characterized the meeting positively but showed no signs of a shift toward more favorable ground for the White House.

“Nothing new was agreed upon,” said Rep. Paul Gosar (R-Ariz.)

He added the group will “go back and consider our options.”

House Freedom Caucus Chairman Mark Meadows (R-N.C.) told reporters on Capitol Hill that “there are not enough votes” to pass the bill.

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D-Day for ‘Obamacare’ repeal aka Trumpcare bill in the House

It is decision day (D-Day) in the House.

The radical far-right GOP House Freedom Caucus is making eleventh-hour demands for more draconian measures to the GOP’s “Obamacare” repeal bill aka “Trumpcare 2.0” (soon to be 3.0?) ahead of the vote scheduled for today, only because it is the anniversary of President Obama signing the Affordable Care Act into law. The post-policy nihilists of the GOP only do propaganda, not policy.

The New York Times reports, Key to Health Vote, Hard-Line Conservatives Push New Cuts:

Hard-line conservatives in the House will meet Thursday morning with President Trump to hammer out changes to the House bill to repeal the Affordable Care Act, pressing to eliminate federal requirements that health insurance plans provide a basic set of benefits like maternity care, emergency services and wellness visits.

What the Freedom Caucus wants in the GOP health-care bill, and why it’s not getting it:

The Congressional Budget and Impoundment Control Act of 1974 dictates that not just anything can be passed by the “reconciliation” process; matters that are “extraneous” to the budgetary nature of the bill are excluded.

House leaders, including Speaker Paul D. Ryan (R-Wis.), are insisting that any provisions rolling back the ACA’s essential health benefits are indeed extraneous. And not only are they extraneous, Ryan argued Wednesday, but if the House adds them to the bill, the Senate couldn’t just strip them out — it could no longer consider it as a privileged reconciliation bill needing only a simple, Republican majority to pass.

Translation: the Senate cloture rule requiring 60 votes to end debate and advance to a vote on the bill will apply, and Democrats could comfortably filibuster this bill in the Senate.

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Rep. Martha McSally will vote to take health care away from thousands of her constituents

As I pointed out earlier this year to the folks at “McSally Take A Stand,” It turns out that Martha McSally does stand for somethin’: Trumpism.

The Five Thirty Eight Vote Tracker still shows our “mythical moderate” Congresswoman (a myth created by our local media) voting 100% with the destructive positions of “The Donald.”

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McSally has now declared her support for the “Trumpcare 2.0” bill to be voted on Thursday, which will take health care insurance away from thousands of her constituents. Hopefully they vote and will return the favor in November 2018.

The Arizona Republic reports, Martha McSally signals support for ‘Obamacare’ repeal bill; Trent Franks doesn’t:

U.S. Rep. Martha McSally signaled support for the revised Republican health care bill Monday, but the plan’s passage remained uncertain as it headed toward a key vote Thursday in the House or Representatives.

In a statement Monday night, McSally, a two-term Arizona Republican, said the bill backed by House Speaker Paul Ryan “is not perfect and I still have concerns,” but she indicated she was working to strengthen that plan.

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A few interesting economic and other titbits

The ramifications of the wealth inequality problem so troubling to Western economists and policy makers is also affecting China. A new research paper by five authors, including Piketty and Saez, reveals that in 1978 the highest earning Chinese 10% took home about 25% of national income before taxes. By 2015, the take of the top 10% had risen to two-fifths of total income. The richest 10% now control about 70% of private wealth in China, up from 40% in 1995. The inequality issue was somewhat mitigated by China’s rapid economic growth. Between 1978 and 2015, the income level of the poorer half of the Chinese population quintupled. During the same time period in the United States, the income level of the bottom half of the population declined by 1%.

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