KoolAid Drinkers, take of Your Rosecolored Glasses!
By Riptide
@Riptide (2756)
United States
July 10, 2009 10:31am CST
I just read an article on yahoo, that they are raising the federal minimum wage. What will that do to the unemployment rate? Employers will have to lay people off to be able to afford the higher salaries.
Don't get me wrong, I wish everybody could make big bucks, but with the economy the way it is now, it is just going to add to the strain small businesses are already feeling.
John Lonski, chief economist for Moody's Investors Service, said the hike in the minimum wage is "going against the grain" of the economy, and that the job market might not be able to absorb the mandated increase.
"You wonder if this might be a little too much for certain employers to shoulder, especially in a time that's been marked by a decline in business sales," said Lonski. "This might actually delay the return of job growth."
http://finance.yahoo.com/career-work/article/107297/higher-minimum-wage-coming-soon.html?mod=career-salary_negotiation
It also says:
Also in June, the U.S. job market shed 467,000 jobs, compared to a loss of 322,000 jobs the month before. Altogether, the U.S. economy has lost nearly 3.4 million jobs in the first half of 2009, which is more than the 3.1 million lost during all of 2008.
The first half of 2009?
That just happens to match with the beginning of Obamas term as president. Now what does that tell you?
This man is ruining this country! By the end of his term people will be living in the streets, begging for food!
Yes, I do blame the rise in unemployment on Obama, wether the koolAid drinkers like it or not. It's as plain as day, that he is just making things worse.
How the hell do you force employers to hand out more money in already bad economic times?
Things are getting worse, not better, like the Obamabots constantly claim! Take of your rose colored glasses and see the truth already, will you?
4 people like this
5 responses
@whiteheather39 (24403)
• United States
10 Jul 09
Very true but how sad to see how bleak the future is for this great country. There is one glimmer of hope! In today's Rasmussen Reports the presidential rating now show that the disapproval rating how now surpasses the approval rating by 7%. Perhaps some people are slowly able to see beyond this glib fasting talking politician.
http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll
3 people like this
@Riptide (2756)
• United States
10 Jul 09
Well, there is a glimmer of hope after all. I just wish they had seen it before they elected him. So hopefuly he will not get a swcond term, but he can still do a lot of damage in the coming 3 and a half years.
Great site, I have to stick that in my favorites and keep an eye on it. Thanks! :)
3 people like this
I don't mean that in a good way. At all.
@AngryKittyMSV (4317)
• United States
12 Jul 09
What, nobody has come here to accuse you of racism for posting the TRUTH about 0bama? They must have gotten lost among their lies.
2 people like this
@eaforeman6 (8979)
• United States
10 Jul 09
The problem is the bandaid on the dam again. It is not enough to help pay for food and it is not enough to make enough difference in each income and standard of living. You can buy more beans and rice lol but really it is another thing that can do more harm then good. With food prices as high as they are and everything else, they would have to jump the money alot higher then they would ever be able to. They have to increase food production, back and support farming and get American made back. It means that families need to eat and eat right. These people are cutting back on food and vitamins and they will get sick. This will increase disease, ilness, med costs ect. If we all see it, why can't they?@whiteheather39 (24403)
• United States
10 Jul 09
I think some people refuse to see it because that would show that they were wrong to ever vote such an unknown junior senator into office. To many people voted for his skin color and not proven experience.
2 people like this
@N4life (851)
• United States
13 Jul 09
Adjusted for inflation food prices in the U.S. have fallen for decades. This is likely one of the causes of the overwhelming obesity. Consumer price index has fallen 1.3% over the last year. It is common for Americans to feel like the price of everything is going up, because we are used to it going down.
1 person likes this
@xfahctor (14118)
• Lancaster, New Hampshire
14 Jul 09
It won't make a difference in my state anywya, since our state's minimum wage is already at the 7.25 per hour that the federal rate is going to go up to.
However, it should be noted, this increase was already in place years ago. As much as it is tempting to blame this on Obama, or even the current congress, we can't. The "Fair Labor Standards Act" (FLSA), revised in 2007, had set a series of incrimental minimum wage increases. It goes like this:
$5.85 per hour beginning July 24, 2007
$6.55 per hour beginning July 24, 2008
$7.25 per hour beginning July 24, 2009
Here is a little more info from the Department of Labor:
http://www.dol.gov/esa/whd/regs/compliance/mwposter.htm
All that being said, I think federal minimum wage in itself is wrong and another destructive federal intrusion in to matters that should be strictly state issues. And to continually raise manidtory wages with out reguard to small business is both damaging to small business and the over all economy of the states and the nation.
1 person likes this
@MuncheeLee (132)
• United States
12 Jul 09
The new minimum wage has been in the works for awhile, but you are right. Employers won't be able to afford to keep people in this ecomony.
What scares me is that it was in the news that the stimulus worked as 'planned'.
2 people like this
