The Biden administration recently gave a bit of simple advice to businesses that are unable to find workers: Offer them more money.
This recommendation, included in a White House memo about the state of the economy, gets at a fundamental tension in an economy that is returning to full health after the coronavirus pandemic. Businesses are coping with spiking prices for goods such as steel, plywood, plastics and asphalt. Yet workers, after enduring a year of job losses, business closures and social distancing, are no longer interested in accepting low wages.
Administration officials say the White House is not trying to target a specific wage level for workers. But officials say higher wages are a goal of President Joe Biden and a byproduct of his $1.9 trillion relief package and at least $3.5 trillion in additional spending being proposed for infrastructure and education.
Boosting wages gets at the central promise of the Biden presidency to improve the lives of everyday Americans and restore the country’s competitive edge in the world. Republicans say that Biden’s policies have already let loose a torrent of inflation that will hurt the economy. The outcome of these competing forces could decide the trajectory of the U.S. economy as well as the factors weighing on voters in next year’s elections.
Read more at NEWSMAX.
{Matzav.com}
Gasoline is up over 35% just since his election just 6 months ago! It looks like were going back to the Obamba days of gasoline just over $4.00. For nearly all of Trump’s presidency it was in the $2.00 range! Thanks PaPa Joe!
The Biden administration recently gave a bit of simple advice to businesses that are unable to find workers: Offer them more money.
I’m not a Republican but I was also bother by this advice. It’s basically saying “Get ready for inflation and act accordingly…’
And then of course they are going to tell us “look at what a great job we are doing “wages are up, the stock market is up…”
For those who were not convinced until now that “Biden” is not president, this picture says it all. Since when is there a parking lot outside of the Oval Office? And with a 1980 Ford truck, no less LOL! FAKE BIDEN IS CLEARLY NOT FILMED IN THE REAL OVAL OFFICE. HA!HA!HA! They should’ve closed the blinds.
the man is SENILE and old – will he live to see what happens? who knows?????????
The economy was closed. It opened prices are going to go up. Oil went up not because of the ransomware. Last year when gas prices kept falling trump boasted how he got the prices back up. No raging inflation. They weren’t concerned about deficit under Trump. Clinton got rid of the deficit when the economy was humming along. Trump instead increased the deficit by giving tax breaks and juicing the stock market, he should have used a time of growth to pay down deficit. Trump knows nothing but debt, let someone else pay, not his problem.