An added thought: By the year 2013 some could speculate that a $20.20/hr minimum wage might not be a realistic expectation evidenced by double indexing alone — from 1968’s $10.69/hr minimum wage — because the fabric of the economy might have changed so radically over 45 years. Fair enough, but LBJ’s 1968 minimum wage would have morphed to more than $14/hr with double indexing by only 1969. Can anyone explain how the economic fabric might have changed radically in a mere 10 years?
Our, US, economy is on the edge of another recession. Growth under Obama/progressive leadership is well below historical norms. What is the next economic shock(s) to put it over the edge from poor to negative? I’m betting on Obamacare plus some other minor issue as a cause. What is the other issue?
Anyone betting on this term finishing without a recession?
The other issues are so obvious it’s hardly worth replying, but since I’m here –
Too little progressive leadership
Sequester
Eurozone recession due to regressive leadership.
Chinese slowdown.
My minimum wage worksheet — the easily could-have-been minimum wage is dbl indexed for inflation and per capita income growth:
yr..per capita…real…nominal…dbl-index…%-of
68..15,473….10.69..(1.60)
69-70-71-72-73
74..18,284…..9.43…(2.00)……12.61
75..18,313…..9.08…(2.10)……12.61
76..18,945…..9.40…(2.30)……13.04……..72%
77
78..20,422…..9.45…(2.65)……14.11
79..20,696…..9.29…(2.90)……14.32
80..20,236…..8.75…(3.10)……14.00
81..20,112…..8.57…(3.35)……13.89……..62%
82-83-84-85-86-87-88-89
90..24,000…..6.76…(3.80)……16.56
91..23,540…..7.26…(4.25)……16.24……..44%
92-93-94-95
96..25,887…..7.04…(4.75)……17.85
97..26,884…..7.46…(5.15)……19.02……..39%
98-99-00-01-02-03-04-05-06
07..29,075…..6.56…(5.85)……20.09
08..28,166…..7.07…(6.55)……19.45
09..27,819…..7.86…(7.25)……19.42……..40%
10-11-12
13..29,209?….7.25..(7.25)……20.20?……36%?
* * * * * *
An added thought: By the year 2013 some could speculate that a $20.20/hr minimum wage might not be a realistic expectation evidenced by double indexing alone — from 1968’s $10.69/hr minimum wage — because the fabric of the economy might have changed so radically over 45 years. Fair enough, but LBJ’s 1968 minimum wage would have morphed to more than $14/hr with double indexing by only 1969. Can anyone explain how the economic fabric might have changed radically in a mere 10 years?
Our, US, economy is on the edge of another recession. Growth under Obama/progressive leadership is well below historical norms. What is the next economic shock(s) to put it over the edge from poor to negative? I’m betting on Obamacare plus some other minor issue as a cause. What is the other issue?
Anyone betting on this term finishing without a recession?
CoRev
what progressive leadership?
The other issues are so obvious it’s hardly worth replying, but since I’m here –
Too little progressive leadership
Sequester
Eurozone recession due to regressive leadership.
Chinese slowdown.