YET MORE ECONOMICS

Veto needed: "The White House yesterday warned of a presidential veto of a $142.5 billion spending bill if Democrats pushed through an amendment that would block new Labor Department rules on overtime pay. House Democrats contend that millions of workers could lose their overtime pay under the rules. Lawmakers said they had enough Republican support to approve the amendment, leading the GOP leadership to put off a vote yesterday."

From poverty to prosperity: "Workers are no longer concerned merely with wages and salaries; they are increasingly interested in saving and investing -- in the process of wealth creation. One can't get rich on wages; the only way to get rich is to earn, save and invest. I cringe when I hear the rhetoric of class warfare, which seems to have become the raison d'etre of the Democratic Party, whether they are ranting about 'the people versus the powerful' or increasing taxes on the 'top 2 percent.' They just don't get it."

Engagement is working: "Protectionists in the United States who point to large and growing trade deficits with China and to increased U.S. investment in China should not be allowed to block trade liberalization by injudicious use of national security and human rights arguments. Further liberalization of U.S.-China trade is a win-win strategy and can play an important role in promoting peace and prosperity. Containment would do the opposite."

Farm subsidies should be plowed under: "I discovered that many people in my small town are receiving tens of thousands of dollars in farm subsidies. I recognized most of the names on the list, some farmers and some not. The nonfarmers included a doctor, a banker, and a former elected representative! This made me wonder: If I know so many farmers and nonfarmers who receive sizeable incomes from subsidies in my own small community, how much money is doled out throughout the United States?"

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