Tuesday, August 2, 2011

Obama speaks after Senate passes the bill (Live Blog)

The President talks about equality and everyone giving in their fair share. He also mentions that he will try to maintain educational and health programs as well as increase the number of available jobs and raising the minimum wage. It all sounds good but how can you place more money in different places, especially for higher wages, when you don't have money to pay past due bills. It is inevitable that taxes will increase. But will the president and Congress use that money to let's say increase wages? If so then we are going around in a circle, ignoring the current debt we have by using the money for the "wrong" thing. I'm not saying that increasing wages is wrong and shouldn't be done. But take care of our first problem which is debt. This is not the circle of life we should be living, we should not be repeating the same mistakes over and over again. We need to learn from our mistakes and look for a solution. The President is doing a good job but it is not the best. Until then we are in a continuing circle of debt in which I don't see a clear way out anytime soon.

1 comment:

  1. I agree with you that if they raise minimum wage that the money will have to come from somewhere. I believe that it is necessary because there are places in America where the majority of people collect minimum wage, I've seen it with my own two eyes.
    What I believe could have been improved on was the timing of the announcement. I also believe that the specifics of the raising of funds should be released as well.
    I'm confused how businesses will be able to pay the new higher minimum wage when so many small and medium sized businesses can barely borrow money at this point in time.
    It will be interesting to see where this issue goes in the coming months and how the pundits respond to it.