Saturday, February 10, 2007

10 Most Economically Literate Members of Congress

Here is the complete article.

6 Republicans and 4 Democrats. Mostly unknowns. No surprises there.

The one thing I could not believe is that old Barney Frank shows up on the list. And they say he is “scary smart”! I mean, the guy is completely crazy, has an incredibly annoying lisp and is one of the most pompous politicians I’ve ever heard.

The funny part is that he claims to believe in “free-market principles, checked with protections”. “Capitalism plus”, as he calls it. Yeah right.

Now, if you want to have a good laugh watch this:

For those who don’t understand why the Republicans are asking about an exemption for American Samoa, here is a quick summary:

The new Democrat controlled congress allowed an exemption to the new minimum wage bill for the pacific Island of American Samoa. So while every other company in any part of the US will be required to pay at least $7.25 an hour, American Samoan companies will be free to pay whatever they want. The average wage for workers in American Samoa is $3.60 an hour.

Why is that?

Well, maybe the answer is StarKist Tuna, which owns one of the two packing plants that together employ more than 5,000 Samoans, or nearly 75 percent of the island's work force. StarKist's parent company, Del Monte Corp., has headquarters in San Francisco, which is represented by Mrs. Pelosi. More interesting than that, there is some controversy around whether Pelosi’s husband owns $17 million in Del Monte stock.

Call me biased, but there's something fishy going on here.