The 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?





