Ratickle
Founding Member / Super Moderator
Sure Lets talk about the unemployment being 4.5% when Pelosi and Reid took over
Then don't worry about the unemployment rate.
In this case, he's correct.
The Pelosi Congress passed the increase to minimum wage in 2007, the employment started to tank. There is no better example of how those types of increases, with no protection from imports, effect employment than in American Samoa. Because their industry is limited to one, the increase is expected to make their unemployment reach 80% shortly. The same thing happens here, except you need to look at the bottom to the top. And the effect is smaller, because the industries are more diversified. It is still, most likely, one of the largest root causes of the current mess we have.