Barack Obama now says unemployment will never fall like he promised in 2009.
Tag Archives: Middle Class
Solving the Right Spending Problem
How Minimum Wage Leads to Unemployment
Elementary economics considers the relationship between supply and demand.
But it can’t be what Barack Obama considers when pandering to the masses with his recommendation that Congress mandate a higher minimum wage.
For example, the above-left figure shows a hypothetical free market at equilibrium: a quantity of 7 employees are demanded and supplied to employers for a price of $30 each.
Defending America in Obama’s Weak Economy
“Solon said well to Croesus, (when in ostentation he showed him his gold) Sir, if any other come that has better iron than you, he will be master of all this gold” — Francis Bacon
Barack Obama is proving how ineffective he can be, putting American national security – the economy and defense – on a dangerous, downward spiral.
First, he entered office in 2009, after the preceding year’s housing crisis demanded immediate attention to save jobs and the economy.
