obama minimum wage

Desperate to change the debate from the implosion of ObamaCare, his signature policy accomplishment that is wildly unpopular, President Obama went into his progressive bag of tricks and pulled out the class warfare card.

Speaking at the left-wing policy group, Center for American Progress, Obama addressed the growing income gap between wealthy and poor Americans.

Instead of presenting new ideas to stimulate the economy and grow middle class jobs in an effort to close the income gap, Obama called for raising the minimum wage from $7.25 an hour to $10 an hour.

From CNN:

The idea that so many children are born into poverty in the wealthiest nation on Earth is heartbreaking enough, but the idea that a child may never be able to escape that poverty, because she lacks a decent education or health care or a community that views her future as their own, that should offend all of us,” Obama said during his remarks.

To combat the chasm between haves and have-nots, Obama called for a hike in the federal minimum wage, saying an increase is a good step for families and the economy as a whole.

Naturally, Obama ducked any responsibility for the income gap between Americans and he failed to mention that under his watch household incomes fell by 4 percent since June 2009 – the end of the last recession.

According to Sentier Research’s Household Income Trends Series: September 2013:

The September 2013 median income of $52,529 was 4.0 percent lower than the median of $54,712 in June 2009, the end of the recent recession and beginning of the “economic recovery.”

Disturbingly, Obama’s progressive solutions are only going to make matters worse especially for small businesses that are already cutting worker’s hours to avoid ObamaCare mandates.

A minimum wage hike will discourage employers from hiring entry level workers and lead to job losses because small businesses can’t afford additional labor costs.

Obama’s entire economic policy is a disaster and his “solutions” will cause more harm than good.

 

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