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Unleash Prosperity Hotline
Issue #1268
05/20/2025
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1) Republicans Against Right to Work?
It's hard to believe that we are in the year 2025 and there are still some Republicans - including Vice President JD Vance, Senator Josh Hawley of Missouri, and even one of Donald Trump's Nominees to sit on the National Labor Relations Board - who favor forced unionization in the workplace.
So much for the GOP being the freedom party.
As we've noted many times, states that have right-to-work laws have created double the number of jobs over the last 25 years than states with forced-union policies. Jobs and businesses avoid locating in places where corrupt union bosses rule the roost.
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For the last 30 years, many of your HOTLINE editors have been at the front lines with our friends at National Right to Work and ALEC in the worker freedom movement, expanding the number of states with right to work laws from 16 to 26.
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Yet a growing number of Nat Cons in the GOP are trying to turn Trump Republicanism into a party that gives more power to teacher unions and union bosses who give 90% of their political contributions to Democrats.
We at Unleash Prosperity are unwaveringly dedicated to keeping red-state America worker-freedom states. The Nat Cons seem to think that the goal is to make Florida look more like New York.
How stupid is that?
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2) To Create More Jobs Get the Steel Deal Done - HOTLINE EXCLUSIVE
Speaking of union jobs, Biden shunned Nippon Steel's bid to buy faltering U.S. Steel and keep American steel mills operating with union workers. The bogus national security objections never made sense, because combining our strength in a key strategic industry with an ally will help check Chinese ambitions to corner the global steel market, as we noted in a paper last year. ([link removed])
Trump has wisely negotiated a deal structure that would facilitate a multi-billion dollar capital investment and infusion of technology and operational know-how from Nippon, but maintain American control and strategic oversight over US Steel.
Reuters reported yesterday that the deal may now be back on track and now includes a commitment to open a brand-new American steel production facility:
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We can report some additional details exclusively here in the HOTLINE. Under the latest iteration of the proposed deal:
* US Steel remains headquartered in Pittsburgh as a US-incorporated entity with a majority US-citizen board, and independent US directors subject to government veto.
* Nippon Steel commits $25 billion by 2028, with $11 billion for capital projects revitalizing facilities in multiple states, and a $14 billion purchase price, protecting and creating 70,000 jobs.
* Pittsburgh's Mon Valley Works is modernized and stays open, preserving Pennsylvania's steel legacy, as supported by local union leaders and President Trump in October 2024.
If these terms are accurate, President Trump may be on the cusp of a deal that safeguards American national security, increases U.S. steel production, and protects American jobs. Who could object?
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3) Moody's Blues
The credit rating agency Moody's on Friday downgraded the U.S. debt to less than AAA, but the financial markets mostly shrugged off the news.
Maybe that's because Moody's is the clown outfit that gave the highest credit ratings to the subprime mortgage-backed securities right up to the eve of the greatest financial crisis since the Great Depression.
To remind readers of Moody's incompetence, we quote from the National Bureau of Economic Research analysis of the mortgage meltdown: ([link removed])
More than half of the structured finance securities rated by Moody's carried a AAA rating, the highest possible credit rating that is typically reserved for securities deemed to be nearly riskless. In 2007 and 2008... 36,346 Moody's rated tranches... were downgraded, and nearly one third of the downgraded tranches bore the AAA rating.
Moody's paid hundreds of millions of dollars of fines and it's a miracle that it is still in business.
Moody's has a history of hating tax cuts, but when Biden spent $5 trillion, which exploded the debt and drove inflation above 9%, there was no credit downgrade. No political bias here.
The debt is way too high, but the full faith and credit of the U.S. government stands behind our bonds. We aren't Zimbabwe. There will be no default.
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4) Europe Flips from ‘No Nukes’, to ‘Yes Nukes to Keep the Lights On’
In just the last week, three European countries independently made positive moves towards nuclear power. The Green Old Deal Against Nuclear is dying. Cause of death? Reality.
The biggest player in the shift is Germany, which decided to exit nuclear power in 2011. The Ukraine conflict sent energy prices and coal consumption in Germany soaring, but environmental hardliners insisted on closing the last three nuclear plants last year. (Apparently no one told these doofuses that nuclear power emits no greenhouse gases!)
Friedrich Merz, the new conservative German chancellor, is pro-nuclear and has boosted research into modular nuclear reactors.
France is also back into nuclear plants and, significantly, Germany will no longer block French efforts to ensure nuclear power is treated on par with wind and solar power in the European Union environmental rules. This would end the Eau's biases against nuclear power.
This month, Belgium's parliament voted overwhelmingly to repeal a 2003 law mandating a nuclear phase-out. The day before, two-thirds of Denmark's parliament voted to lift a 40-year ban on nuclear power.
Welcome to the 21st century.
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5) It Takes Longer to Fly Some Routes Now Than It Did in the 1950s
So much for progress.
Ed Bastian, the CEO of Delta, says that thanks to air traffic delays, it now takes longer to fly certain routes (such as New York to Atlanta) than it did in the 1950s. Transportation Secretary Sean Duffy admits there are often no replacement parts for the decades-old equipment in air traffic towers. He compares the system to a 1967 Volkswagen Beetle and has announced a multibillion program to upgrade the system.
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Aviation expert Robert Poole notes that well-managed, well-funded ATC systems in Australia, Canada, Germany and the U.K. have long used a nonprofit, user-funded model. Internationally, 98 countries today provide ATC services that way. The U.S. is an outlier in still using a top-down, government-run system.
It's been 30 years since then-Vice President Al Gore led a federal task force on "reinventing government" that called for a new air traffic control model. That still hasn’t happened.
It's time to bring in the experts from SpaceX and DOGE to help the Federal Aviation Administration improve air safety and reduce flight delays. It's the only way we will be able to Make Aviation Great Again.
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