In April, 1.8 million British residents got a pay rise when the National Living Wage, the new name for the minimum wage in the United Kingdom, went up by the most ever, a whopping 4.9%. It marked 20 years since Tony Blair’s government introduced a minimum wage and the occasion was widely celebrated.
”I will create millions of jobs” is a phrase I have heard a thousand times from campaign halls by politicians vying for public offices in a bid to win the majority votes.
Federal spending has been increasing dramatically since about 1993. From 1993 to 2000, spending increases by 3.1%. In the next decade, it rose by about 6% from 2001-2006 and 8.5% from 2007-2010.
Balanced budget legislation along with uneasiness about the national debt has a long history in the United States and across the globe. In the U.S., opposition to debt spending and government borrowing began just years after the creation of our government.