Due to the lack of Congressional response of both Republican and Democrats alike, stagflation and globalization, coupled with the Tech boom and the shipment of manufacturing jobs overseas, aided in the demise of a once robust labor union. Financial deregulation, another nemesis of the labor unions caused major taxpayer losses due to the Federal Reserves fraud and perpetuated greed during the Savings and Loan debacle. This crisis was the result of lax government oversight and a fraudulent ponzi scheme which some would link to the undervalued American dollar. Congressional legislation at this time aimed more for increasing inflation and cutting taxes for the extremely rich than focusing on what should have been the main priority: increasing manufacturing, reducing importation, and labor union employment.
Representation in Congress is one of the problems Labor Unions have always faced. They were in need of a political maven with a force to be reckoned with that sometimes have more pull than the pressures of voters. In a Pew study taken a few years ago, they looked at the sources of many reporters who wrote stories about America’s economy. Of course Congressmen were often quoted and were subsequently the go to to get up to date information on passed legislation concerning the economy. The issue with this, Pew found, is that “representatives of organized labor unions were sources in only 2 percent of all the economy stories studied.” (Drum 2011)
“Congress is completely