WE’LL SEE YOU TOMORROW.
♪
LARRY: HELLO, FOLKS, WELCOME TO
"KUDLOW," I’M LARRY KUDLOW.
SO JUST HOURS BEFORE THE
DEADLINE MUCH-FEARED RAILROAD
STRIKE WAS FINALLY SETTLED.
NOW THAT’S A GOOD THING BECAUSE
IT WOULD HAVE WREAKED EVEN MORE
HAVOC ON ALREADY SLUMPING
ECONOMY.
SUPPLY SHORTAGES WOULD HAVE
DRIVEN INFLATION EVEN HIGHER.
AS FAR AS THE SETTLEMENT GOES I
DON’T KNOW EVERY DETAIL YET BUT
THE HEADLINES SOUNDED RHINABLY
REASONABLE.
BASICALLY IT’S A 24% WAGE HIKE
OVER FIVE YEARS.
RETROACTIVE TO THE MIDDLE OF
2020, EXTENDING THROUGH 20 TO 4.
DEPENDING ON YOUR JOB THE ANNUAL
INCREASES ARE ESTIMATED TO BE 3
TO 7% INCREASE.
THERE IS A RETROACTIVE BACK PAY
BONUS OF 11,000 BUCKS.
THE UNIONS ORIGINALLY WANTED 31%
GAIN BUT THEY SETTLED FOR LESS.
NOTEWORTHY IN ALL OF THIS THE
ATLANTA FED WAGE TRACKER IS 6.7%
OVER THE PAST YEAR.
THE CPI OF COURSE IS 8.3%.
NOW, IN SOME CONSERVATIVE
CIRCLES IT IS ALWAYS FASHIONABLE
TO RAIL AGAINST UNION WAGE
INCREASES.
NO PUN INTENDED BUT YOU KNOW,
THE REALITY IS THEY’RE TRYING TO
KEEP UP WITH INFLATION.
BIDEN INFLATION IS REALLY AT THE
HEART, IT IS THE ROOT CAUSE OF
THESE WAGE INCREASES.
IT IS REALLY NOT THE FAULT OF A
WORKFORCE IN RECENT YEARS
FEDERAL SPENDING BALLOONED
INFLATION AND FEDERAL RESERVE
RECENTLY HAS ACCOMMODATED IT.
UNIONS DON’T CONTROL
CONGRESSIONAL PURSE STRINGS OR
THE NATION’S MONEY SUPPLY.
THEY MIGHT WANT TO BUT SO FAR
THEY DON’T.
REAL WAGES IN THE PAST YEAR HAVE
FALLEN 3.4%, WHICH IS A HUGE PAY
CUT TO WORKING FOLKS.
SO IN THIS CASE I JUST CAN’T
BLAME TYPICAL WORKING FAMILIES
TRYING TO BUY GROCERIES OR KEEP
THE REFRIGERATOR ON OR HEAT
THEIR HOMES OR BUY A NEW CAR.
THEY’RE JUST TRYING TO KEEP UP
ON THE LIGHTS AND GET BY.
GOVERNMENT IS THE BIG PROBLEM,
NOT THE WORKFORCE AND IN THIS
CASE NOT THE UNION.
NOW IF WE HAD A RELY RELIABLY
STRONG DOLLAR, GROWTH POLICIES
THAT WOULD MINIMIZE TAXES AND
REGULATIONS WE WOULDN’T HAVE
RELENTLESS INFLATION.
I AM SIDING WITH THE UNION.
THESE ARE PRIVATE SECTOR UNION
WORKERS NOT GOVERNMENT UNION
WORKERS.
I’M SYMPATHETIC TO THE FORMER
BUT I’M NOT SYMPATHETIC TO THE
LATTER.
NOW I DO WANT TO NOTE HOWEVER,
THAT THE BIDEN ADMINISTRATION
HAS THROWN EVERYTHING BUT THE
KITCHEN SINK AT THEIR UNION
SUPPORTERS.
THIS IS A DIFFERENT POINT.
I SHOULD SAY THE UNION
LEADERSHIP BECAUSE THE
LEADERSHIP IS WAY FAR LEFT OF
MOST OF THE RANK-AND-FILE
WORKERS, FOR EXAMPLE, THE
NATIONAL LABOR RELATIONS BOARD
HAS FOSTERED THE MOST AGGRESSIVE
PRO-UNION POLICIES IN HALF A
CENTURY.
THEY HAVE COOPERATED WITH UNION
LEADERS IN UNION ELECTIONS BY
DOING ALL THEY CAN TO STOP
EMPLOYERS FROM TELLING THEIR
SIDE OF THE STORY.
THEY HAVE EVEN CALLED ELECTION
DO-OVERS IN SEVERAL CASES
INCLUDING THE AMAZON EPISODE IN
ALABAMA.
NLRB SUPPORTED WHAT ASK CALLED
CARD CHECK WHICH BYPASSES SECRET
BALLOT ELECTIONS.
THEY TRY TO PREVENT EMPLOYERS
FROM HOLDING PRIVATE MEETINGS
WITH EMPLOYEES.
MOST EGREGIOUSLY THE BIDEN
ADMINISTRATION IS IMPOSING
DAVIS-BACON WAGE RATES ON ALL
MANNER OF NEW CONSTRUCTION.
NOW DAVIS-BACON WHICH GOES ALL
THE WAY BACK TO THE 1930S
REQUIRES CONTRACTORS TO PAY
INACCURATE, BLOATED,
GOVERNMENT-DETERMINED WAGES AND
BENEFITS ON TAXPAYER FUNDED CONSTRUCTION PROJECTS.
CONSTRUCTION PROJECTS.
NOT COMPETITIVELY
GOVERNMENT -- ALLOWS FOR A
DAVIS-BACON FOR UNION SHOPS.
NO UNION SHOP, NO DAVIS-BACON
BONUS.
THESE SORT OF REGULATIONS WILL
JACK UP CONSTRUCTION COSTS,
STIFLE JOB CREATION AND SURELY
DISCOURAGE COMPETITION FROM
SMALL BUSINESS AND DISCOURAGE
COMPETITION IN LABOR MARKETS.
MINORITY WORKERS ARE USUALLY THE
FIRST TO SUFFER.
I DON’T MIND WORKING FOLKS
GETTING HIGHER WAGES TO OFFSET
HIGHER INFLATION.
BUT I DO MIND THE BIDEN
ADMINISTRATION’S EXPENSIVE
ATTEMPTS TO FAVOR UNIONS OVER
BASIC MARKET COMPETITION.
ALL OF THAT IS ONE OF THE KEY
CAUSES OF INFLATION IN THE FIRST
PLACE.
WE WILL TALK TO FORMER WISCONSIN
GOVERNOR SCOTT WALKER ABOUT THIS