The Patriot Post® · CBO Rebuts Obama Again

“Raising the minimum wage is good for business, and it’s good for workers, and it’s good for the economy,” Barack Obama said last week. The Congressional Budget Office once again burst his bubble, however, reporting Tuesday that his proposed minimum wage hike to $10.10 an hour would result in the loss of 500,000 jobs – and perhaps as many as one million – by 2016. Democrats stubbornly insist that increasing the price of labor will have no negative effect on unemployment or will even add jobs. But we know the only jobs Democrats care about are their own, and “raising wages” will play well with their low-info constituency.