Month after month, inflation has been proven to be a serious issue with significant consequences for the country’s economy.
Americans are feeling the worst impacts of inflation as they’re forced to pay higher prices for virtually everything. In one form or another, inflation is impacting every individual.
Meanwhile, wages being brought in by American workers aren’t even coming close to giving inflation a run for its money. As it turns out, even employees who have seen increases in their paychecks are having trouble with affording higher prices.
At the end of the day, inflation is a direct consequence of the government spending money like there’s no tomorrow. Of course, this isn’t stopping the Biden administration at all.
According to Fox Business, the minimum wage for federal workers is now $15 per hour.
A Deep Dive into the Minimum Wage Hike for Federal Employees
Federal employees who are working for the executive branch are expected to see the minimum wage hike by January 30. This will impact 70,000 employees across the federal government and traces back to an executive order signed by Biden in 2021.
$15/h is 10 years old.
How much buying power does $15/h provide today vs 10 years ago?
How much buying power will it provide in 10 more years (Ds will run campaigns on it, then not pass it, just like the past 10 years).
Why keep minimum wage workers begging?#livingwage
— WeatherDem 🇺🇸 (@WeatherDem) January 22, 2022
The Biden administration has been very clear in its view about increasing the minimum wage. This current administration says the $15 per hour hike will lead to more worker satisfaction and productivity, while also reducing turnover and truancy.
Meanwhile, the nonpartisan Congressional Budget Office has warned that increasing the minimum wage to this degree could put at least 3.7 million employees out of work.
Pouring Gasoline on the Fire of Inflation
The Biden administration’s decision to increase federal workers’ base salaries amid an inflation crisis will only lead to more problems.
Time and time again, it’s been shown that minimum wage increases directly lead to higher prices, job layoffs, and both. Furthermore, the federal government spending more money will only lead to additional inflation.
If the White House truly cared about boosting workers’ income, they would take action to beat back inflation. A $15 per hour minimum wage doesn’t even come close to competing with rising prices across every sector.
Yeah, and there are reasons why.
It's interesting how we are not taught how money is made or the mechanisms that come with it. It's the reason why we have inflation. This has been going on for the last 109 years. Around the 60s to 70s the dollar is no longer backed by gold.
— Midnight Starwriter (@MidnightStarwri) January 18, 2022
Due to the unemployment projections from the Congressional Budget Office, people should be extremely concerned about how what’s happening will impact federal workers.
With labor shortages already being a persistent problem in the country, it doesn’t do anyone any good to be laid off. However, Biden, via his haste with executive orders, has undoubtedly doomed swaths of federal workers to the unemployment line.
What do you think about the new $15 per hour minimum wage that is going into effect for this country’s federal workers? Do you believe this increase in the minimum wage is going to cause more people to lose their jobs or suffer higher inflation levels? Let us know in the comments feed.