02.13.14

Raising the minimum wage!

Posted in my view at 4:24 am by Lalita Haran

Increase in the federal minimum wage is good. President today increased the federal minimum wage to $10.10 by an executive order.

In an economy that is struggling to come out of recession wage raise should be welcome. Increased wages provide additional purchasing power to the cash strapped people. Facilitating spending this way gives the much needed market activity which is lacking in recession.

More importantly, it provides an encouragement to people to go out and seek work instead of relying on the welfare funds. Present wage raise would give the citizens a mental boost to break out of habitual reliance on the unemployment dole money and go out and seek work.

Federal government is making a good effort in pulling the nation out of recession and now it is the turn of the rest of us to follow suit to help rebuild the economy.