Obama: ‘America deserves a raise’

Obama: ‘America deserves a raise’

MILWAUKEE

President Barack Obama renewed his push for Congress to raise the minimum wage Monday in a buoyant accounting of the economy’s “revving” performance, delivered on behalf of Democrats opening their fall campaigns for the midterm congressional elections.

“America deserves a raise,” he told a union crowd in Milwaukee, vowing to keep a hard sell on Congress in much the way he once courted his wife. “I just wore her down,” he cracked.

Timing his push to Labor Day, the traditional start of the autumn campaign, Obama aggressively drew attention to recent economic gains, setting aside past caution on that subject.

Austerity debate flares in Europe

FRANKFURT, Germany

Europe’s economic recovery is in danger. Governments are under pressure to save it but struggling with political obstacles and disagreement among themselves over what to do.

Instead, the region is pinning its hopes — once again — on the European Central Bank, which is expected to launch new stimulus measures if the economy gets any worse.

Europe’s lack of growth is looming larger and larger, however, and the ECB says it can’t save the economy alone.

For more than five years since the eurozone hit turbulence over too much debt in 2009, governments’ answer has been to raise taxes and restrain spending. And there’s been some progress.

Deficits have shrunk, and countries that needed bailout loans are slowly getting their act together.

But second-quarter growth was zero, after only four quarters of measly expansion. While unemployment in the United States has fallen to 6.2 percent from 10 percent at its peak in Oct. 2009, Europe’s is at 11.5 percent — still near last summer’s 12 percent.

Associated Press