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A labor-oriented congressional majority likely would restrict alternative capital sources, such as private equity. The Bear Stearns bail-out would become an excuse for enacting the entire liberal regulatory agenda.

Spending would surge. Moreover, as Medicare and Social Security slid ever faster towards insolvency, a union-dominated Congress would turn to massive borrowing and tax hikes. Private Social Security accounts and market-oriented Medicare options would be off the table.

Teachers' unions would block any proposals for parental choice and school accountability. Unions would work to kill consumer-oriented health care, such as health savings accounts, and press for enhanced employer-provided health insurance, which has led to today's cost-plus system of medicine.

Finally, a more influential labor movement would join trial attorneys to kill any hope of tort reform. Last fall the House voted to create new investor liabilities as part of the subprime bailout.

SOME BUSINESSES believe that they can immunize themselves by locking in regulations today, while the GOP still holds the White House. But most of the rules could be changed by a future administration.

Another business strategy has been to hire Democratic lobbyists. Ivan Adler of the McCormick Group, an executive recruiter, told the New York Times: "It's a bull market for Democrats, especially those who have worked for the congressional leadership." But a GOP electoral debacle likely would generate an unstoppable Democratic policy tsunami, irrespective of how many lobbyists business deployed.

Congress should reject card check on its merits. Workers are entitled to a secret ballot over unionization.

But there's another reason for anyone committed to a freer economy should oppose ECFA. Abandoning workplace elections would allow organized labor to intimidate its way to greater power and money which would, in turn, be used to promote the entire left-wing economic agenda.

The vast majority of Americans -- and union members -- support holding representation elections, which protect workers and employers alike. Yet organized labor is working overtime to override the public's interest. If the unions succeed, the public will pay a high price for years to come.

topics:
Taxes, Trade, Health Care, John McCain, Barack Obama, Economics, Business, Social Security, Law, Unions, Medicare