CBO Report: Minimum Wage Hike To Cost 500K Jobs

 

” President Obama’s proposal to raise the minimum wage to $10.10 per hour would cost 500,000 jobs in 2016, according to a report released Tuesday by the nonpartisan Congressional Budget Office.

  The report also found hiking the wage from $7.25 per hour would raise income for about 16.5 million workers by $31 billion, potentially pulling nearly 1 million people out of poverty.

  The White House and economic groups on the left immediately pushed back at the CBO’s conclusions on jobs even as they hailed the findings on poverty, saying its conclusions on jobs ran counter to other research.”

 

Add this to CBO’s earlier report on the job killing effects of Obamacare …

 

 

” Earlier this month, the CBO found that over the next decade, ObamaCare would result in the equivalent of 2.5 million fewer workers. It concluded many workers would chose to remain at home due to ObamaCare’s expansion of health coverage.”

 

   And you see how economically astute this administration really is . Does anyone wonder why we have been stuck in a recession for the entire length of this man’s presidency ?

   As with all things political , the minimum wage hike is about optics and the desire to APPEAR to be doing good regardless of the end result . The media hype and feel good sensation that goes with the passage of a bill is never matched down the road when the true consequences of the legislation become apparent . Read the rest at the Hill.

 

 

 

 

 

 

 

 

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