Monday, July 03, 2006

American Worker Wages Lagging Behind Growing Inflation

Congress believes in yearly cost of living salary increases for themselves, but not for the American worker who has had their federal minimum salary stuck at a mere $5.15 since 1997. Every since the Newt Gingrich inspired Republican take-over of Congress, American worker wages have been stuck at the bottom of the barrel.

Real hourly wages for low-wage workers actually declined by 1.9% just between 2004 and 2005. Among middle-wage earners the decline was by 1.3%. But among high-wage earners, their salaries actually increased by 0.6%, although even this lagged behind real inflation growth.

Among non-union workers, the problem worsens as these workers have seen real wage decreases in 18 of the last 20 months.

Since the start of the 2003 failed Iraq War policy of the Bush White House, a gallon of unleaded gasoline has soared in price from about $1.57 a gallon to about $3.00 today. This is nearly a 100% price inflation in just three years as a result of a grossly failed foreign policy that sought to put the U.S. in control of the suspected 220 billion barrels of undiscovered oil assets in Iraq, or a 98 year supply for the U.S. With the 220 billion barrels of undiscovered oil along with the known 113 billion barrels of known oil assets. Iraq is actually the most oil rich nation of the world. But with the complete failure of stability and peace in Iraq, oil production from Iraq is actually down by 900,000 barrels a day from even the dark days of Saddam Hussein and 12 years of tough U.N. mandated sanctions. All of this instability in Iraq as well as lower oil production has only led to dramatic price inflationfor all goods and services in which an oil cost can be related. Yet Congress doesn't believe in giving American workers any relief from the foreign policy that they voted for that is driving prices up.

Few items in American society have ever seen a 100% inflation like oil. And this inflation ripples all through society. But Congress just doesn't care how tough life is for working people. Remember this when you vote this November and ask the candidates where they stand on increasing your wages.


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