House Minority Leader Nancy Pelosi (D-CA) said Thursday that after witnessing Wall Street reach all-time highs this week, it’s time to raise the minimum wage to $10.10 an hour.
“This week, we saw something quite remarkable, the stock market soaring to record heights. At the same time, we see productivity keeping pace,” Pelosi said during a Thursday briefing at the Capitol, according to The Hill. “But we don’t see income for America’s middle class rising. In fact, it’s been about the same as since the end of the Clinton years.”
A House Democratic aide told Raw Story that Pelosi asked for more than Obama did because she wants to see working people receive a livable wage, not just a small raise. “The economy is recovering, corporate profits are rising, but wages for lower-income folks are stagnating,” the aide said. “So there’s a strong case to be made for a wage that will help people raise families.”
“If we are going to honor our commitment to the middle class, we have to reflect that intention in our public policy,” Pelosi told reporters.
The Dow Industrial Average closed at 114,253 on Tuesday, an all-time high that bests the previous record set in October 2007, just before the financial crisis that nearly ground the global financial system to a halt.
Stephen C. Webster is the senior editor of Raw Story, and is based out of Austin, Texas. He previously worked as the associate editor of The Lone Star Iconoclast in Crawford, Texas, where he covered state politics and the peace movement’s resurgence at the start of the Iraq war. Webster has also contributed to publications such as True/Slant, Austin Monthly, The Dallas Business Journal, The Dallas Morning News, Fort Worth Weekly, The News Connection and others. Follow him on Twitter at @StephenCWebster.
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