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Originally posted by jackinthebox
reply to post by LightinDarkness
Only 520,000 of a 200+ million work force gets paid the minimum wage. -LightinDarkness
1.7 million workers with wages at or below the minimum
...and that doesn't include workers who make a higher state minimum wage.
But of course we don't have to worry about the poorest people in the country who bother to work two or three jobs, because they are not the majority.
[edit on 12/18/0707 by jackinthebox]
Outsourcing has been going on en masse since the early 1990's. Is there any evidence to show that this somehow creates a huge impact on the economy now? I do not find any evidence for that. While when a company outsources it does leave people out of jobs, government routinely steps in and retrains people to be able to get jobs in a knowledge economy. I am not sure that shifting away from industrial complexes and into the knowledge economy is BAD thing - seems to be a good thing, as the knowledge economy offers more jobs and better quality jobs for those who are willing to be retrained.
Originally posted by cloakndagger
The elephant in the room is the baby boomer's retiring and the first social security check went out this year. As far as we know the government has been eating up the social security for other things. Remember Al Gores Lock box?
First Baby Boomer to receive social security. The wave has just started.
P.S. 2008 an estimated 8 million homes will go into sub prime which means their monthly rates will go up.
'We are told daily that the Gross Domestic Product in America is up, our economy is moving forward and we are doing so well. But why, when Americans are working longer and harder just to keep up, why are we told that things are so good, that the GDP is a measure of enormous progress?
The gross domestic product adds up everything Americans spend and declares that as the total good. As a result, the hundreds of billions of dollars that Americans spend to cope with crime, the lawyers, and social breakdown costs, is all GDP – car crashes, fender benders in front of the Capitol. Mr. President, two hundred billion dollars a year in repair bills and hospital bills give this country a real boost.”
Speech on floor of U.S. Senate by Senator Bryon Dorgan (D-ND),
October 17, 1995