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Dem Control Might Help Economy, WSJ.com Survey Finds

 
 
Reply Fri 13 Oct, 2006 08:52 am
Wall Street Journal
October 12, 2006

Dem Control Might Help Economy, WSJ.com Survey Finds

Democrats wins in November might boost the economy, economists in the latest WSJ.com survey found.

Most economists said the economy would perform best in the coming years if Democrats take control of at least one chamber of Congress. Only 12 of the 35 who answered the question said the economy would perform best under continued Republican control of the House and Senate. The best scenario, the economists said, would be Democratic control of the House only. The economists were almost evenly split over whether the stock market would perform better with a continued Republican lock on Congress or some measure of Democratic control.

"The economy is doing very well," said Allen Sinai of Decision Economics Inc. However, it "would do better if the geopolitical side wasn't depressing Americans and injecting caution in business sentiment. The psyche of Americans is surprisingly low. New blood can improve sentiment."

When asked what the new Congress should make its top priority, economists indicated their top two choices were health care and Social Security. Those two issues represent the difficulty of the aging U.S. population and growing entitlement spending. However, there wasn't much optimism that much would be done to take on the issues in the near-term. "There just isn't the political will to address these problems," said Dana Johnson of Comerica Bank. - Phil Izzo
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Reply Sun 15 Oct, 2006 07:44 am
Colorado Group: God, Moses Oppose State Minimum Wage Increase
This November, Coloradoans will vote on Amendment 42, a ballot initiative to raise the state minimum wage from $5.15 to $6.85. If the initiative passes, the minimum wage would be "adjusted annually for inflation, as measured by the Consumer Price Index used for Colorado."

Stop 42, the group opposed to the initiative, is taking a "biblical" approach in their campaign against a minimum wage increase. Their new ad depicts a "Moses" character speaking to the voice of God in the Rocky Mountains. "We need divine intervention," Moses says. God responds: "We can't let the people make this mistake. Go. Spread the word. Vote no on 42!"

Watch it:
http://thinkprogress.org/2006/10/14/god-minimum-wage/
More than 650 of the nation's leading economists disagree. The academics said in a statement issued by the Economic Policy Institute, "[M]odest increases in state minimum wages in the range of $1.00 to $2.50 and indexing to protect against inflation can significantly improve the lives of low-income workers and their families, without the adverse effects that critics have claimed."

Divine intervention may be the only thing that can help the Stop 42 campaign. In the latest Rocky Mountain News/CBS 4 poll, 74 percent of Colorado voters said they will "definitely" or "probably" support Amendment 42.

Transcript:

MOSES: Hello!

GOD: Can you hear me now?

MOSES: We need divine intervention. They want to chisel Amendment 42 into Colorado's constitution where it doesn't belong.

GOD: What on earth are you talking about?

MOSES: An annual minimum wage increase in stone for eternity!

GOD: When inflation and recession come, it will be a catastrophe!

MOSES: It's a plague we'll face every year.

GOD: We can't let the people make this mistake. Go. Spread the word. Vote no on 42!
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