So, let us compare the proposed rise in hte minimum wage in the US with the cut in government spending in the US.
A 3% cut in planned future expenditure is a disaster. A 24% rise in input prices to business is something they’ll just suck up with no problem.
We might ask the same question in the UK in fact. No cuts in total government expenditure are a disaster. But a 20% (or whatever) rise from the minimum wage to the living wage is not a problem.
Umm, yeah, right on really.
In fact, shouldn’t the Today Programme be asking that second question somewhat forcefully?