Minimum wage has not increased since 2009, and a former United States Treasury Secretary thinks long past time to raise it.
In 2009, the minimum wage increased from $5.85/hour to the current rate of $7.25/hour.
Former Treasury Secretary Robert Rubin, speaking at the University of Georgia on Monday, said raising the minimum wage would not adversely impact the job market.
“Almost all of the studies that are conducted indicate that substantial increases would probably a minimal if any effect on jobs”, said Rubin.
He said not only should the wage be increased, but it should be increased substantially.
“My judgment says they should be increased substantially now, and it is much lower than it should be, in my opinion”, said Rubin.
Political gridlock is an issue Rubin says plagues Washington today, but said he remains optimistic for the long term economic health of the United States.
“I’ve already expressed my view that I believe, with good reasons, that we will recover from this and in time we will have a level of functionality necessary to meet our challenges, but there are no guarantees and there is a lot to do”, expressed Rubin.
The former Treasury Secretary, who served under President Bill Clinton, was originally supposed speak in January, but due to inclement weather was forced to reschedule.