It seems that some in the political arena have a solution to relieve the high unemployment problems in the United States. That solution involves ending or temporarily suspending the Federal minimum wage.
Right, wrong or otherwise, it appears that the USA is in a race to the bottom. Solving the nation’s economic problems were not addressed with President Bush’s tax cuts or President Obama’s massive economic stimulus spending. And let’s not forget that President Bush did his share of spending too with tax rebates, which many refer to as “Bush Bucks.”
It’s clear that neither of the two leading political parties have any idea of how to fix the economy and put millions of people back to work. Which is why people, such as Michele Bachmann are reaching for straws when saying the minimum wage laws should be abolished so that workers can earn less and companies can hire more people.
What got the United States, and many developed countries, into an economic pinch is closely related to trade policies. While many countries have lost millions of jobs, China continues to grow its economic empire. Not only are Chinese companies hiring many workers to perform tasks once performed on our soil, but they are also our largest foreign holder of our debt. At any given time China could pull the string and bring our country to its knees.
Why politicians are avoiding our trade policies, and how they relate to domestic job losses, is beyond me. But it does have an odor of self-interest. The solution to our high unemployment problems is not reducing the minimum wage, but rather addressing failed trade policies that are allowing a Communist nation to take over our country without firing a shot or even a hint of worry from those in Washington D.C. And it scares me when those that are leading this country appear to be turning a blind eye to the economic takeover of the United States by the Chinese.
Our largest trade partner is China. The last time I heard workers were earning a minimum of $.70 an hour in China, and that was after a 15% pay increase. Is the United States now in a race to meet China’s labor rates? You be the judge!