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To: Rarebird who wrote (62388)	1/2/2001 3:37:28 PM
From: long-gone	Read Replies (1) \| Respond to of 116764

Bid to boost minimum wage may test Bush pledge David R. Francis Staff writer of The Christian Science Monitor Jan 2, 2001 1:30 AM The "compassionate" conservatism of George W. Bush will soon get a highly visible test. Soon after the new Congress convenes this week, Sen. Ted Kennedy plans to introduce another bill to raise the minimum wage. The veteran Massachusetts Democrat has attempted since 1998, without success, to boost the minimum wage by $1 an hour. That federal minimum is now set at $5.15 an hour. Kennedy has usually sought to attach that provision to a bill desired by the Republican congressional leadership. In 2000, the bill that included a minimum- wage boost was so laden with costly tax provisions that President Clinton vetoed it. Success would have meant a pay hike for 10 million low-wage Americans, or about 8.7 percent of the workforce. These workers are paid the minimum, or up to $1 an hour above it. If the minimum went up, most likely those earning somewhat more would also get a raise. With the Senate now evenly divided between Democrats and Republicans, Kennedy hopes for a "clean bill," free from extraneous provisions. He will suggest a hike larger than $1, perhaps spread over three or four years. The amount isn't firmly set. "Senator Kennedy is concerned that the minimum-wage worker is falling further behind," says spokesman James Manley. In constant-dollar terms, the minimum wage would need to be raised to $8.05 an hour to match the 1968 level. "It would be very smart of Bush to look at this quickly and let pass a clean bill," says Jared Bernstein, an economist at the Economic Policy Institute. It would help "pin him" as a compassionate conservative by benefitting many low-wage workers and minorities with concerns about a Bush administration. Mr. Bernstein sees a higher minimum as a way to trim poverty among working Americans. (cont) financialchoices.com

To: Rarebird who wrote (62388)	1/2/2001 4:49:18 PM
From: Square_Dealings	Read Replies (1) \| Respond to of 116764

I agree with your comments. I think they are selling gold to raise some cash to keep from going under and buying gold mining stocks as a hedge. M.