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News Ticker from FNC

Tuesday, July 16, 2013

Economics Education

This is kinda choppy but I wanted to be sure to get this info up
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So the nations capital (Washington DC) has shot itself in the foot ...

Walmart - the big chain store - had decided to put up <b>SIX</b> stores surrounding the DC area to get jobs for their people ...

The city council allowed itself to get pushed into settings $12.50 MINIMUM wage for businesses which earned over $1billion a year ... That is $4.25 ABOVE the cost to smaller shops/stores/businesses ... 

Did I mention that UNIONS are EXEMPTED from this law? 

Walmart has pulled out of all six stores, including the 3 which had already started to go up!

They were estimated to be bringing in over 1,800 jobs

Holy crap!

So DC must be in some pretty good shape if it can turn down jobs from big stores right?

WRONG!!!

DC stats

$800million surplus over last 4 years
$600million surplus for THE NEXT 5 fiscal years
Highest disposable income in nation
1000 new residents on MONTHLY basis

Unemployment: 8.5% (one full point above national average (down from 11.2%) 
Teen Unemployment rate: 34%

They have a 5 year plan for 50,000 jobs

<blockquote> "We are a point where we don't need retailers, retailers need us" 
Vincent Orange
DC Council member</blockquote>

So Walmart is "evil" right? 

In 2012 they gave $3.8 million in donations to food banks/organizations in the DC area ALONE

Well - without Walmart there I guess people will have to stay on the public dole for even longer ... 

But the republicans aren't that much better anymore either ... Everyone is just looking out for their own political careers and their own pocketbooks when it comes down to it ...


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