Friday, August 1, 2014

I like what Obama complained about

Am I the only one who caught president Barack Obama's crazy statement about the minimum wage today?

Jump to 6:30 mark for the full context. Basically, Obama was justifying his use of executive order to mimic the legislation he is not able to get through congress and its checks and balances, a hallmark of his administration I find worrisome and disturbing. He made a list of things he identifies as problems and when he wanted to lament the lack of a federal minimum wage increase he said something that made me squint in confusion:

States and businesses are raising the minimum wage for their workers because this congress is failing to do so.

Uh, what?

IKEA, for example, just announced that it's raising its starting pay in America, which is something companies do when they want to attract better workers. That's a good thing.

I understand why Obama's argument about state minimum wage increases is logical, but complaining about businesses raising wages when congress did not? That's a ridiculous statement and he should fire whoever put that line in his speech.

The president just said, as a complaint, that the market and capitalism are raising peoples wages instead of waiting for the federal government to do so. That's what he said.

Obama has had economic rock stars in his administration, Larry Summers, Christina Romer, Cass Sunstein,
Timothy Geithner, Alan Krueger, etc., yet I rarely get the impression that he listens to them. Instead, he speaks as if the economy is something that can be subdued and leashed with legislation, when it's really a rebellious, uncooperative organism.

1 comment:

  1. Am I really to believe that market forces can cause employee compensation to rise without legislative magic dust from Congress????

    That's crazy talk.