Tuesday, March 10, 2009

Obama Economic Advisor Warren Buffett Speaks Out Against Card Check

/PRNewswire-USNewswire/ -- Legendary investor and prominent Obama economic advisor Warren Buffett has come out in opposition to the Employee Free Choice Act as Congressional supporters introduced the legislation today. The Employee Free Choice Act -- or "card check" legislation will effectively remove secret ballots for workers in union organizing elections and bind employers to contracts that inhibit their ability to create much-needed new jobs.

Buffett's opposition to card check comes on the heels of the release of a new economic study showing that the card check scheme will eliminate 600,000 American jobs by 2010 and result in severe job losses in future years as the workforce becomes more unionized.

The study, which was conducted by noted economist, Dr. Anne Layne-Farrar, concludes that every three percent increase in unionization will lead to a one percent increase in unemployment.

The Coalition for a Democratic Workplace (CDW), the leading business coalition opposing card check, has launched an advertising effort this week in Capitol Hill newspapers to educate lawmakers about the negative impact that the Employee Free Choice Act will have on our economy.

"In a time of deep recession, the last thing Congress should do is pass legislation that will cost Americans their jobs. Card check is a poison pill for our ailing economy. President Obama would be wise to heed the warnings of Mr. Buffett," said Brian Worth with the Coalition for a Democratic Workplace.

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