Thursday, February 20, 2014

Obama: CBO Report Nonsense, Raising Minimum Wage Will "Create 140,000 Jobs"

President Obama, despite analysis and facts to the contrary, stated this week that the Congressional Budget Office's analysis on raising the minimum wage is wrong.

Instead, the President pushed his own narrative, seemingly making up numbers out of thin air.

In their analysis, released this month, the CBO found that raising the minimum wage to President Obama's proposed $10.10 would have catastrophic effects on employment rates.

Quoting directly from the source, the CBO stated:
According to CBO’s central estimate, implementing the $10.10 option would reduce employment by roughly 500,000 workers in the second half of 2016, relative to what would happen under current law.

The President today said that this finding was wrong. In fact, the President announced, raising the minimum wage would somehow create 140,000 jobs.

You can read the specific post that the President wrote here.

Here the specific tweet:
Minimum Wage
No where does the President cite where he got this information and why it so wildly contradicts the non-partisan findings of the CBO.

In comparison, the CBO's report is 39 pages long, while the President's "facts" contain nineteen words, twenty if you include his hashtag.

1 comment:

  1. Hiking the Min. wage by nearly 30% while there are 90 million able bodied Americans either unemployed or underemployed makes great sense, well if you're an economic ignoramus, like the current occupant of the White House.