From the Department of “We Told You So”
A few months ago, we covered the predictable cheerleading by progressive types over the then-impending minimum wage hike. Well, the raise in the minimum wage has come and gone and the Eugene Weekly is reporting that things are basically working out the way anyone who wasn’t political invested in pointless exercises in populism assumed they would:
When minimum wage rose 45 cents at the beginning of this year, Jerry James knew that while the increase wouldn’t allow his family to get ahead, it would at least give them a leg up with rising costs.
“It’s good,” James said. “But with the cost of food, it sort of weighs itself out.”
[…]
The 2009 wage increase will allow full-time minimum wage workers to increase their annual income from $16,536 to $17,472, an extra $936 a year. Still, the extra $3.60 a day might not be enough to keep up with the rising cost of food. [emphasis added]
In other words, the price for consumer goods has risen right along with the increase in the state-mandated minimum wage. Who could’ve predicted that?
Anyone?
Bueller?
