An economic stimulus of a different sort
takes effect today, as the federal minimum wage rises from $6.55 an hour to
$7.25 an hour. The move will create an extra $5.5 billion in consumer spending
over the next year, Obama administration officials say.
Congress for decades has argued over the merits of
raising the minimum wage, proponents calling the move necessary to more closer
reach a living wage, and opponents saying the hike will cause the loss of jobs
especially in small businesses unable to afford the higher wages.
Minnesota
