CBO: Minimum Wage Hike to $10.10 Could Cost 500K Jobs

Another reason government is the problem and not the solution.
Check it out:

On Tuesday, the nonpartisan Congressional Budget Office estimated that raising the federal minimum wage to $10.10 an hour could cost 500,000 Americans their jobs.

The current federal minimum wage is $7.25 an hour, and President Barack Obama has pushed congressional Democrats to raise it to $10.10 an hour. Obama has already signed an executive order to raise the minimum wage for federal contractors to $10.10 an hour.

The CBO report estimated, if fully implemented by 2016, “the $10.10 option would reduce total employment by about 500,000 workers” while bringing 900,000 workers out of poverty.



Sign up for our daily email and get the stories everyone is talking about.


Previous post

Why Bill Clinton's Personal Life Matters

Next post

Cops Taser and Beat Deaf Man, Mistake Sign Language as Aggression

Join the conversation!

We have no tolerance for comments containing violence, racism, vulgarity, profanity, all caps, or discourteous behavior. Thank you for partnering with us to maintain a courteous and useful public environment where we can engage in reasonable discourse.