EVERY YEAR THE Department of Labor posthumously honors Americans “whose distinctive contributions to the field of labor have enhanced the quality of life of millions yesterday, today, and for generations to come.” Past honorees have included socialist leader Eugene Debs and labor organizer Cesar Chavez.Today, Secretary of Labor Alexander Acosta announced that the department’s first honoree under the Trump administration would be a former president: Ronald Reagan.This marks perhaps the first time the Department of Labor has honored someone who openly and actively diminished the power of American labor unions.
Medicaid is not just healthcare for the poor. It also pays the bills for over 60 percent of nursing home residents, and 40 percent of all national long-term care costs. And the number of Americans who need nursing home care is going to rise significantly over the next several decades as the baby boom ages into their eighties and nineties. Cutting Medicaid over this period is a recipe for people literally dying in the streets (or for luckier ones, on the foldout couch in their kid’s living room).
Hey, you remember that time when you were 14 and you called up your crush with your best friend secretly listening in so that after they could tell you what to say? President Donald Trump did just that, except with the Air Force General in charge of the F-35 program and the fucking CEO of Boeing in the room listening.
DONALD TRUMP’S FEBRUARY 3 executive order enabling financial advisers to continue ripping off their clients could prove a lifeline for a surprising beneficiary: the private equity industry.The Department of Labor’s fiduciary rule would have forced investment advisers in workplace retirement plans like 401(k)s to operate in their clients’ best interests, rather than recommending high-cost, high-risk products that offer the advisers kickbacks and perks.The Obama White House estimated in a 2015 report that conflicts of interest cost retirement savers $17 billion annually, though that figure has been challenged.The fiduciary rule, finalized last year, was to go into effect in April. But the new order directs the Labor Department to review the rule, which is expected to initiate the process of rescinding it.