There were two big economic policy stories this week that you may have missed if you were distracted by Trumpian bombast and the yelling of the Sanders dead-enders. Each tells you a lot about both what President Obama has accomplished and the stakes in this year’s election.
One of those stories, I’m sorry to say, did involve Donald Trump: The presumptive Republican nominee — who has already declared that he will, in fact, slash taxes on the rich, whatever he may have said in the recent past — once again declared his intention to do away with Dodd-Frank, the financial reform passed during Democrats’ brief window of congressional control. Just for the record, while Mr. Trump is sometimes described as a “populist,” almost every substantive policy he has announced would make the rich richer at workers’ expense.
The other story was about a policy change achieved through executive action: The Obama administration issued new guidelines on overtime pay, which will benefit an estimated 12.5 million workers.
– The New York Times