$18 Big Macs and $20 minimum wage, Gavinomics here we come
Fox News
Gavinomics, brought to the citizens of California by their governor, means $18 Big Macs and $20 minimum wage. And it doesn't stop there. The state also has a $68-billion deficit.
California already has the second-highest unemployment in the United States at 5.2%, which is more than 25% higher than the national average of 3.9%. California is already facing a record $68 billion dollar deficit. Ted Jenkin is CEO and co-founder of Oxygen Financial and president of Exit Stage Left Advisors.
With ground beef prices up almost 6% year over year and double the rate of normal inflation, this Gavinomics move of a 25% increase in wages is sure to cost more fast-food workers their jobs to only be replaced by AI. It could crush the middle class so dearly that they’ll have to find other food alternatives after being priced out of Burger King and Panera Bread.
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