Biden Spending Plan to End 1.3 Million Jobs

"Joe Biden" (CC BY-SA 2.0) by Gage Skidmore

This week, Joe Biden released an “American Rescue Plan” for the nation to read, observe, and prepare for. The soon-to-be-president has acknowledged the many crises which Americans are facing; yet sadly, the policies Biden seeks to implement will only worsen the aforementioned crises across the board.

“Joe Biden” (CC BY-SA 2.0) by Gage Skidmore

At this time, one of the biggest threats Americans face is the ongoing economic disaster. Earlier this month, jobless claims approached the tune of one million; this has been a crisis in the making, seeing as how Democrat leaders consistently shut down their economies; only now as Biden prepares to be sworn in as president are Democrats backing down from their lockdowns.
One of the worst elements of Biden’s “American Rescue Plan” is the proposed federal minimum wage of $15 per hour. According to Breitbart News, a hike of this magnitude clears the way to wiping out 1.3 million U.S. jobs.

The Problem with Increasing the Minimum Wage

According to findings from the Congressional Budget Office (CBO), even gradually increasing the minimum wage to $15 per hour would destroy 1.3 million jobs in the country. This is due to the reality that employers are hit economically when minimum wage increases are forced.

The sectors where minimum wage jobs are most dominant are service and retail industries; hence, employers, in the hopes of saving their businesses, tend to reduce hours or lay off workers altogether. These responses to minimum wage increases therefore counteract any potential economic benefits that could arise from increasing the minimum wage.

Preparing for the Near Future

With Biden being the incoming president and with both chambers of Congress to be controlled by Democrats during at least the first half of the Biden presidency, Americans need to prepare themselves.
Had Republicans kept the Senate, there would at least be a check on some of the far-left policies that Biden and his allies seek to pass. However, Biden all but has a blank check; if policies like minimum wage increases are passed, the consequences will not be what Democrats and their supporters are claiming.

Despite the policies that a Biden administration will work to pass, the lockdowns may soon be coming to an end across the nation. As President Trump readies himself to leave office, Democrats such as the Chicago mayor and New York governor are suddenly pushing to reopen.
What do you think about Joe Biden’s plans to increase the federal minimum wage? Let us know in the comments section below.