Re: Let the truth be known
How come your welfare State still pays min wage 7.25 per hour? Cupcake
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Bidenomics strikes again.
The UAW Is Fighting Bidenomics and Bidenflation
The looming strike by the United Auto Workers is as much a protest against Bidenomics as it is the policies of General Motors, Ford Motor Company, and Stellantis.
More than a decade ago, as U.S. automakers were teetering on the verge of collapse and two in the grip of bankruptcy amid the Great Recession, the unions and the autoworkers they represent made many concessions to keep the Big Three afloat. A big one was the agreement to accept contracts that no longer tied worker pay to inflation.
The pressure put on the unions at the time was tremendous. The Obama administration relentlessly pushed for acceptance of its program, largely because it wanted to claim credit for rescuing the auto industry. The workers were threatened with economic ruin if they did not sacrifice to prop up their failing employers. Politically, the unions were left adrift, abandoned by the Democrats who had long been their allies and finding little welcome among a Republican party still dominated by establishment types enthralled to the agenda of big business and Wall Street.
At the time, the concession on automatic inflation adjustments for wages did not seem too costly. The Federal Reserve had a hard won credibility on its promise to keep inflation low. Since the early 1990s, annual inflation mostly bounced around near three percent. Over time, prices were still climbing, but there were no sudden jolts that threatened to bury negotiated wage increases below unmanageable cost of living increases.
The Great Betrayal
All that changed shortly after Joe Biden took control of the White House and pressed a Democrat-controlled Congress to enact the $1.9 trillion American Rescue Plan Act. Inflation went from 1.8 percent in 2019 to seven percent in 2021. (It had fallen to 0.3 percent amid the lockdowns in 2020.) Despite assurances from the Biden administration and the Fed that inflation was a passing phenomenon—transitory, they said—inflation persisted, clocking in at 6.5 percent for the full year in 2022.
It was even worse in the Detroit region that is America’s automaking heartland. While inflation peaked at 8.9 percent year-over-year in June of 2022 for the U.S. as a whole, in the Labor Department’s Detroit-Warren-Dearborn district, it rose all the way to 9.7 percent. Over the last 12 months, while nationwide 12-month inflation has fallen to 3.7 percent, in Michigan it is running 5.9 percent.
While all Americans have been hard hit by the surge of inflation tied to Biden’s deficit spending, Detroit’s autoworkers have had it far worse than most of their fellow Americans. The place we once called the Arsenal of Democracy was ground zero for Bidenflation’s destructive explosion.
The promise of low inflation was broken by the bloated fiscal policies of the Biden administration and the loose money policies of the Federal Reserve.
It only made matters worse that the Democrats time and again sought to downplay inflation or pass the buck onto the greed of corporations or Putin’s invasion of Ukraine. As recently as this month, Democrat leftist stalwart Rep. Alexandria Ocasio-Cortez of New York was circulating the idea that inflation was just “propaganda.” Even when Democrats admit inflation has been problematic and linked to excessive fiscal and monetary expansion, they act as if it were a sacrifice necessary because of the pandemic. Never have they mentioned that the sacrifice was borne more heavily by some than others, much less acknowledged the prices paid by our autoworkers.
What had become of the party that once stood by the autoworkers? Where was the apology for breaking the promise of holding inflation low? Where was the gratitude for the extra-burden of inflation visited upon them in the name of “rescuing” America from a pandemic-induced economic crisis that had already passed?
The UAW Is Fighting Bidenomics and Bidenflation
The looming strike by the United Auto Workers is as much a protest against Bidenomics as it is the policies of General Motors, Ford Motor Company, and Stellantis.
More than a decade ago, as U.S. automakers were teetering on the verge of collapse and two in the grip of bankruptcy amid the Great Recession, the unions and the autoworkers they represent made many concessions to keep the Big Three afloat. A big one was the agreement to accept contracts that no longer tied worker pay to inflation.
The pressure put on the unions at the time was tremendous. The Obama administration relentlessly pushed for acceptance of its program, largely because it wanted to claim credit for rescuing the auto industry. The workers were threatened with economic ruin if they did not sacrifice to prop up their failing employers. Politically, the unions were left adrift, abandoned by the Democrats who had long been their allies and finding little welcome among a Republican party still dominated by establishment types enthralled to the agenda of big business and Wall Street.
At the time, the concession on automatic inflation adjustments for wages did not seem too costly. The Federal Reserve had a hard won credibility on its promise to keep inflation low. Since the early 1990s, annual inflation mostly bounced around near three percent. Over time, prices were still climbing, but there were no sudden jolts that threatened to bury negotiated wage increases below unmanageable cost of living increases.
The Great Betrayal
All that changed shortly after Joe Biden took control of the White House and pressed a Democrat-controlled Congress to enact the $1.9 trillion American Rescue Plan Act. Inflation went from 1.8 percent in 2019 to seven percent in 2021. (It had fallen to 0.3 percent amid the lockdowns in 2020.) Despite assurances from the Biden administration and the Fed that inflation was a passing phenomenon—transitory, they said—inflation persisted, clocking in at 6.5 percent for the full year in 2022.
It was even worse in the Detroit region that is America’s automaking heartland. While inflation peaked at 8.9 percent year-over-year in June of 2022 for the U.S. as a whole, in the Labor Department’s Detroit-Warren-Dearborn district, it rose all the way to 9.7 percent. Over the last 12 months, while nationwide 12-month inflation has fallen to 3.7 percent, in Michigan it is running 5.9 percent.
While all Americans have been hard hit by the surge of inflation tied to Biden’s deficit spending, Detroit’s autoworkers have had it far worse than most of their fellow Americans. The place we once called the Arsenal of Democracy was ground zero for Bidenflation’s destructive explosion.
The promise of low inflation was broken by the bloated fiscal policies of the Biden administration and the loose money policies of the Federal Reserve.
It only made matters worse that the Democrats time and again sought to downplay inflation or pass the buck onto the greed of corporations or Putin’s invasion of Ukraine. As recently as this month, Democrat leftist stalwart Rep. Alexandria Ocasio-Cortez of New York was circulating the idea that inflation was just “propaganda.” Even when Democrats admit inflation has been problematic and linked to excessive fiscal and monetary expansion, they act as if it were a sacrifice necessary because of the pandemic. Never have they mentioned that the sacrifice was borne more heavily by some than others, much less acknowledged the prices paid by our autoworkers.
What had become of the party that once stood by the autoworkers? Where was the apology for breaking the promise of holding inflation low? Where was the gratitude for the extra-burden of inflation visited upon them in the name of “rescuing” America from a pandemic-induced economic crisis that had already passed?
Appears YOUR own state is screwing hard WORKING Americans everyday
Name ONE bill the Republicans passed that helped this year?
See the Republicans plan below to fix anything
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