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“When it comes to supporting families in a growing economy, Democrats have taken charge front and center to give American families a livable wage in a nation overtaken by the top 1%. If the federal minimum wage had kept up with inflation over the past 40 years, it would now be at $21.72. Instead, it’s $7.25. The value of the minimum wage has actually fallen sharply over the past forty years. In 1968, for example, the federal minimum wage was $1.60 per hour, which translates to approximately $10.70 in 2013 dollars.

Contrary to popular belief, minimum wage increases have been shown to stimulate the economy by increasing consumer spending without adding to state and federal budget deficits. Consumer spending is responsible for driving 70 percent of the economy, and increasing demand is key for jump-starting production and re-hiring. A raise in the minimum wage puts money into the pockets of low-income consumers who immediately spend it immediately at local businesses. The Economic Policy Institute estimates that the Fair Minimum Wage Act of 2013, which would raise the federal minimum wage to $10.10 per hour, would generate $32 billion in new economic activity in communities across the country. Analyses of states with minimum wages higher than the federal floor between 1998 and 2003 showed that their job growth was actually stronger overall than in states that kept the lower federal level.

Democrats, while certainly not perfect, have proven to be benefactors for the American public. It’s time we stand up and elect effective Democratic leaders who will work to preserve what is held dear to the American people, like a security net to let us retire with peace of mind, adequate healthcare that helps sustain a long and healthy life, and a livable wage so we can all have a fair shot at the American Dream.”
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