Fox's Neil Cavuto upped his fearmongering over the United States somehow turning into Greece to the level of pure idiocy this Tuesday, when he used it to attack the Obama administration for expanding overtime pay.
Cavuto's been ringing the bell and sounding the alarm over Greece day after day and week after week on his show ever since it looked like there was a good chance they might default on their debt and the prospect that they might end up leaving the eurozone becoming more likely.
Now Cavuto wants us to believe that somehow paying American workers a living wage and a fair wage for their overtime it going to turn us into Greece. Overpaid Faux "news" bloviator said what???
Fox News host and senior vice president Neil Cavuto responded to President Obama's expansion of federally guaranteed overtime pay to 5 million additional American workers by fear-mongering that the regulatory change would lead the United States down a path toward financial ruin similar to Greece while hurting the workers it is meant to protect.
In a June 29 op-ed in The Huffington Post, President Obama announced his plan to update federal overtime regulations in 2016 by increasing the salary threshold at which qualifying employees are legally guaranteed overtime pay. Under current law, salaried employees earning less than $23,660 annually are legally required to be paid time-and-a-half when their position requires that they work in excess of 40 hours per week. Obama's proposal would more than double the income threshold to qualify for overtime -- covering qualifying employees earning up to $50,400 annually, or roughly 40 percent of the salaried workforce. Current overtime standards only extend to about 8 percent of salaried workers.
In response to the president's proposal, Cavuto expressed concern that paying more Americans for the hours they work could contribute to an economic disaster in the United States. On the June 30 edition of Fox's Your World, Cavuto proclaimed that the U.S. was becoming "Greece on steroids," a reference to the disastrous fiscal and financial circumstances that have unraveled the comparatively tiny European economy for more than six years. Cavuto was joined by discredited economist Art Laffer, who lamented the "huge burden on these companies" that will now be required to adequately pay their employees:
Despite Cavuto's dire predictions, economists expect that expanded overtime protections will be a boon for the American workforce. Read on...
Cavuto's entire existence on Fox is to serve one purpose... coddling corporate CEO's and Wall Street executives. He's learned it well and never fails to suck up and punch down as he did again during this segment.