The debt-ceiling fight has been the dominant story out of
Washington for weeks, and for the most part the White House hasn't looked too
good. But in the last few days, the administration has taken some serious steps
forward on other fronts.
It's official: Congress passed a debt-ceiling deal, and the president signed it. While this is certainly preferable to the
country defaulting on its obligations, it's not an
inspiring piece of legislation.
Dan Price, owner and chief executive officer of Gravity Payments, has cut his salary and given each of his employees a $70,000 wage. This move raises the salaries for more than half of the 120-person staff at his credit card processing company in Seattle. Many business leaders have criticized his move. Rush Limbaugh called it socialist, predicting the company would fail. Tim Kane, an economist at the conservative Hoover Institute at Stanford University, said, “It will reduce turnover, increase morale, and help him build an even greater company.” The day after the new wage plan was made public, Price received letters from 3,500 job applicants, and Gravity signed up several new clients (New York Times, April 19).