The editorial in the morning paper gets right to the point in explaining the utterly illogical nature of President-elect Joe Biden’s economic “stimulus” plan:
In addition to $1,400 payments to individuals, Mr. Biden’s plan includes federal money to supplement regular state unemployment payments and a $15 an hour federal minimum wage. Consider the bizarre logic of those last two proposals: Mr. Biden seeks to kneecap already struggling small businesses by raising mandated wage floors, thus outlawing certain jobs, while simultaneously creating disincentives for returning to the workforce. This is economic stimulus?
In fact the Congressional Budget Office has said raising the minimum wage to $15 would destroy 1.3 million jobs.
The editorial then notes, “The new president’s blueprint also includes billions for state bailouts, which is no doubt music to Gov. Steve Sisolak’s ears as he prepares to outline his budget proposals in his State of the State address this week.”
Yes, the lede story on the front page reports that Sisolak is projecting a 2 percent shrinkage in the general fund budget over the next two years. But a couple of graphs later on the jump, the story reports that overall state revenue — which includes other state revenue sources and federal government funding — will actually increase 5.1 percent. Poor, poor Nevada government.
http://dlvr.it/Rqz9h3