Unemployment jumps to five year high ( I told ya so! )
Posted by Moonage on 06 Sep 2008 | Tagged as: 2008 Presidential Race, Entitlement Programs, Fed Policy, Fun with Numbers, Idiot of the day, Political Correctness
Almost two years ago, I warned Nancy Pelosi what would happen if they jerked around with the minimum wage without adjusting other funding to account for it. She’s a stubborn old bag and didn’t listen. They promptly crammed it through Congress.
July 1, minimum wage went up 70 cents. That’s about a 13% increase.
One month later, we get the SHOCKING news that unemployment claims increased to a five year high, at 6.1%. That’s about a 7% increase in one month.
I’d post a fancy graph illustrating how things look, but there’s really no need to. I already have. It would look something like this:
The same dang graph I posted two years ago showing what happens when you dick around with minimum wage.
Now, this is where it gets even more annoying to me. Obama is running on the theme that he will cut taxes to 95% of Americans. He will balance this by raising taxes on those making more than something like $250,000 and corporations.
What part of balancing a business budget do Pelosi, Reid, and Obama not get? You raise the cost of doing business, the business HAS to reduce other costs. Those costs, Obama, are jobs.
“What’s more fundamental than having a job, seeing your income keep pace with inflation and watching your child walk off the stage with a college diploma in their hand?” Obama asked. His GOP rival, he added, “doesn’t get it.”
The problem here is if a person doesn’t have a job at all, which Obama ignores, then even dreaming of watching your child walk off the stage with a college diploma in their hand vanishes.
Now, a lot of people will blame “the failed policies of the Bush Administration” for what is happening now. Nothing could be farther than the truth. It is the socialist agenda of Nancy Pelosi and Harry Reid that have caused these numbers to rise exactly as I predicted two years ago. If you want to dick around with minimum wage, then you have to balance that increased employer cost with increased funding in just about every aspect of the US economy. Or, those employers will balance that increased cost the only way they possibly can.
And, given that very real example of what happens when you increase operational costs on a business, what do you folks think will happen if Obama gets his wishes and taxes the hell out of every employer in the US?
Don’t accuse me of political pandering, that’s what Obama has promised to do so that all those unemployed people will get a tax break.
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