President Obama, back in 2008, prior to being inaugurated, pledged to raise the federal minimum wage to $9.50 an hour by the end of 2011, in an effort to fight poverty and help “make work pay for all Americans,” as he put it then.
Well this hasn’t happened. When America’s lowest paid workers get their first checks in 2012, they will see no increase. Notwithstanding the rising cost of living, the federal minimum wage remains a paltry $7.25 an hour, the same as it has been since 2009.
Most economists believe that an increase in the minimum wage is long overdue.
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