rate and boost wages. i don t think of anything better than getting oil and gas production back to 14 million or 15 million barrels a day. it would help the economy enormously. bret: steve, mentioned inflation, the thanksgiving meal is going to be more expensive, about $10.74, according to the american farm bureau. your reaction to all of this. well, people are going to be spending as much this year as last year, but it s become very clear that what they buy without those dollar outlays are going to be less. so 16 presents i saw one survey, the average is going to be 9 in a family. also they talk about the geopolitical problem with china. we also have a lot of countries, in deep trouble. they both borrowed a lot of mony when money was free, interest rates were suppressed. japan has a national debt twice as much as the u.s.
in san francisco. that city has a minimum wage of $10.74, and it s going to go up every year, because it s indexed to inflation. california just passed an increase to $10 an hour. there are five states that passed increases last year, many more are going to do it this year, including in red states like alaska and south dakota, that will have it on the ballot. and it s clear that these increases, like igor were saying earlier, have not caused job loss. we have not seen massive unemployment among low-wage industries. in fact, they have been booming, because they are the ones that are disproportionately growing in our economy today, which is exactly why we need to raise go ahead, igor. i m just surprised to learn this morning that apparently the conservative position or the position against the minimum wage seems to be, let s get rid of some labor standards, let s allow businesses to kind of race to the bottom, and let the government subsidize these folks who aren t paid enough. i
hour? one of the bills being introduced is $10.10 an hour. california in september increased the minimum wage to $10 an hour. if you looked at t the minimum wage in 1968 the cost of living increased so much that our minimum wage today if you corrected for inflation would be $10.74. why not 20? let s go crazy? why not $50 an hour? we have to strike a balance between what s appropriate compensation for people for the work they do and what works for the economy. the economy has been struggling. a minimum wage increase that for every thousand dollars it
we rate the minimum wage to $10.10 an hour. 62% approve of that. the minimum wage has been increased in 13 states. this is a dangerous issue amid a good year. we don t want to raise this. we talk about whether or not people continue to look for work. we adjusted under time. they peaked at about 10.74 an hour. not even close to that now. first head. thank you, sir. we are keeping a close eye on the weather as millions of americans are digging out from the winter storm. there is actually more snow on the way. it s a double deadline day. it s a tongue twister as two issues come to a head this morning.
one of the bills being introduced is $10.10 an hour. california in september increased the minimum wage to $10 an hour. if you looked at t the minimum wage in 1968 the cost of living increased so much that our minimum wage today if you corrected for inflation would be $10.74. why not 20? let s go crazy? why not $50 an hour? we have to strike a balance between what s appropriate compensation for people for the work they do and what works for the economy. the economy has been struggling. a minimum wage increase that for every thousand dollars it increased.