CBO: Obama’s Minimum Wage Hike Would Cost the US Another 500,000 Jobs

Barack Obama is the worst jobs president since the Great Depression.
obama worst jobs ever

But, it gets worse…
Obamacare will cost 2.5 million jobs.
And, the CBO reported today that Obama’s minimum wage hike will cost the country another 500,000 jobs.
The Daily Mail reported:

The White House may have to scrap its plans to aggressively promote a 40 per cent national minimum wage hike now that the nonpartisan Congressional Budget Office found that the move would likely cost the U.S. 500,000 jobs by the second half of 2016.

The CBO’s report, released Tuesday afternoon, also estimated that it would pull 900,000 low-income Americans above the federal government’s poverty line.

The White House didn’t answer questions about whether that trade-off is acceptable to President Obama, but Senate Democrats have pushed hard for legislation that would implement his goal of driving the minimum wage far above its current $7.25 level.

Photo of author
Jim Hoft is the founder and editor of The Gateway Pundit, one of the top conservative news outlets in America. Jim was awarded the Reed Irvine Accuracy in Media Award in 2013 and is the proud recipient of the Breitbart Award for Excellence in Online Journalism from the Americans for Prosperity Foundation in May 2016. In 2023, The Gateway Pundit received the Most Trusted Print Media Award at the American Liberty Awards.

You can email Jim Hoft here, and read more of Jim Hoft's articles here.

 

Thanks for sharing!