Obama Has a Problem with Stupid Reporters

From Wonk Wire:

The Congressional Budget Office released its analysis of President Obama’s proposal to raise the minimum wage from $7.25 to $10.10 an hour by 2016. CBO: “The increase in the minimum wage would have two principal effects on low-wage workers: The large majority would have higher wages and family income, but a much smaller group would be jobless and have much lower family income.” Specifically, it would cost 500,000 jobs in 2016, but “would raise income for about 16.5 million workers by $31 billion, potentially pulling nearly 1 million people out of poverty,” reports The Hill.

Raising the minimum wage will lift 16.5 million people into something resembling a living wage -- at the expense of 500k jobs. This is a ratio of 33:1 on the positive side. In other words OBAMA IS DESTRYONG JOBS!!!11!11!@. Of course, lowering the minimum wage to $2 per hour would greatly expand employment opportunities. But, if we really want to get to full employment, legalizing slavery would be the most efficient way of doing so.