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Posted on 07/08/2014 11:11:58 AM PDT by Nachum
The White House may have to scrap its plans to aggressively promote a 40 percent 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. [Snip] 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. But it quickly scheduled an afternoon conference call for reporters with Council of Economic Advisers Chairman Jason Furman, and
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They do not want it implemented, they want a campaign issue.
Ah, yes - - - : the lasting effects of THE CULT OF OBAMANATION.
Who will the Democrats choose next to lead us in the race to the bottom?
Obama is all about creating/saving jobs like he’s all about cutting the deficit, and all about the troops, and all about border security.
And how many US jobs will be lost to cheap invader labor from central america? We’re on our way to a generation in which a majority of US citizens are unemployed most of the time. How can a nation recover from that?
Do you think this CBO report will make any of the Alphabet’s nightly news? Me neither.
First you squander the old people's wealth and savings by causing inflation.
Then you raise the wages of the next generation so they can function on their earnings while the old people are stuck with a devalued money which is only a fraction of what they earned.
Presto! The retired middle class are now poorer and the new generations are middle class.
I would think that to be a low estimate, maybe by 2015, once it starts rolling, there is nothing to stop this snowball.
If we are fortunate enough to have a conservative president in 2016, his courage will be greatly tested.
I strongly suspect Cruz can handle it.
This is an easy fix. Obama and the dems will pick up their phone, call the CBO, and have them change their numbers.
How many of us here at FR think the newly imported illegals will be counted in the unemployment numbers???
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