May 6, 2015
New economic data is on the street, and it’s not good.
The U.S. economy ground to a halt with a .02 percent growth rate Q1.
What’s troublesome is not that the economy since 2010 has suffered five quarters of growth BELOW 1 percent; it’s that non-job creators continue to see an excessive regulatory environment as a solution for moving the country forward.
The clearest example?
Minimum wage mandates.
The Congressional Budget Office suggested an increase to .10 per hour would cost America’s economy 500,000 jobs.
Everyone knows when government forces employers to pay employees more job creators curtail expansion plans, cut or freeze hiring, cut hours, lay off workers, or all of the above.
These practices hurt employees and the economy.
The evidence is prevalent. Seattle businesses with single-digit profit margins like restaurants closed because of new higher minimum wage mandates, or they cut hours, laid-off employees, or raised prices.
Now the fight is on Arizona’s doorstep. Non-job creators in Flagstaff sued to mandate their own minimum wage hike. Coincidentally, the Flagstaff lawsuit admits their plaintiffs earn more than the existing Arizona minimum wage!
Let’s stop the wage mandate nonsense, and let America’s job creators get this economy moving again.