Democrats Willing To Sacrifice Another 500,000 Jobs - Granite Grok

Democrats Willing To Sacrifice Another 500,000 Jobs

got workThe Current Concensus view of Economists… is that the CBO is right when it supports their position but wrong where it does not. (Concensus:  When liberals agree on lying to people to get their way.)

“CBO’s estimates of the impact of raising the minimum wage on employment does not reflect the current consensus view of economists,” Council of Economic Advisers Chairman Jason Furman wrote in a blog post. “The bulk of academic studies, have concluded that the effects on employment of minimum wage increases in the range now under consideration are likely to be small to nonexistent.”

The Hill is reporting on CBO data that suggests the Obama minimum wage proclemation will result in the loss of 500,000 jobs by 2016 but could also lift one million workers out of poverty.  The left is praising the latter and dissing the former.

There is something to be said for looking for a way to help people out of poverty, but at what cost?

Assuming the CBO is being honest, the left is applauding the fact that instead of 1.5 million people having jobs where they could learn to earn more, accumulate skills, enjoy the value of a days work, and work to pull themselves out of poverty, the left is sacrificing half a million of them (most likely blacks, immigrants, and first time would-have-been workers) on the latest alter of distraction.

And for what?  CBO estimates the forced increase in cost of that diminishing labor pool is an additional $31 billion dollars.  Where do you think that $31 billion is going to come from?  Hint?  It is not from an abrupt increase in production so Obama and the Democrats just created a job killing $31 billion dollar tax on labor and everyone gets to pay it.

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