Courtesy of Mish.
In one of the sappiest, platitude-ridden state of the union addresses in history, president Obama said “Give America a Raise“.
I agree with the idea, not the implementation. President Obama pledged an Executive Order requiring federal contractors to pay their federally-funded employees a fair wage of at least $10.10 an hour “because if you cook our troops’ meals or wash their dishes, you shouldn’t have to live in poverty.”
Obama stated “Today, the federal minimum wage is worth about twenty percent less than it was when Ronald Reagan first stood here.“
While true, not once did Obama even hint at the source of the problem: Real wages have declined because government spends more than it takes in, and the Fed is happy to oblige by forcing interest rates lower, allowing just that.
Rather than fight the real problem, Obama wants to attack the symptom: falling real wages. Mathematically his proposed solution cannot possibly work.
The president even wants to expand on what clearly doesn’t work, dragging Senator Mario Rubio into the picture.
“I agree with Republicans like Senator Rubio that it doesn’t do enough for single workers who don’t have kids. So let’s work together to strengthen the credit, reward work, and help more Americans get ahead,” said Obama.
Regarding the right to vote, Obama stated, “It should be the power of our vote, not the size of our bank account, that drives our democracy.“
On that, I could hardly agree more. So let’s have genuine campaign finance reform, for both parties, including union sponsorship of candidates.
Given that no one in either party wants that, it won’t happen. Is it any wonder that for the first time in history, a majority of people in congress are millionaires!
Regarding terrorist activities, Obama stated “We are clear-eyed about Iran’s support for terrorist organizations like Hezbollah.“
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