For the first time the International Monetary Fund called on the US to raise its long stagnant Minimum Wage.
IMF calls on the US to hike its minimum wage rateOf course Republicans will say stagnant Minimum Wages is a good thing at they force their economic snake oil on working Americans.
By Katie Little
The International Monetary Fund released its annual review of the U.S. economy on Monday and called on the U.S. to raise its federal minimum wage rate.
The IMF described the U.S. minimum wage as low by both historical and international standards, saying that an increase would raise incomes for millions of working poor Americans.
At a news conference, IMF Managing Director Christine Lagarde said the contraction of U.S. growth in the first quarter occurred due to a harsh winter but that the weak growth is temporary.The US as the 2nd largest emitter of GHGs has lagged behind other developed countries in taking action on Global Warming.
"Extreme weather occurrences have a serious effect on the economy," Lagarde said. "And extreme weather occurrences have repeated much more frequently in the last 20 years than they had in the previous century. And I think that's a valid reason to wonder about climate change, and how to deal with it."
This marks the first time that the IMF has endorsed raising the U.S. minimum wage. It comes amid increased discussion on Capitol Hill about hiking it with calls from U.S. President Barack Obama and some Democrats for a jump to $10.10 per hour.Just watch the Republicans try to dismiss the IMF's recommendations. Of course if the IMF had warned the that the US deficit was too large Republicans would use it as a reason to go into panic mode.