President Obama has turned his call for increasing the federal minimum wage to $10.10 per hour into an election year rallying cry for Democrats. But a report by the Congressional Budget Office has severely undermined his policy arguments.
Coming on the heels of a CBO analysis that Obama’s signature health care law will create a disincentive to work, the Feb. 18 report contradicted Obama’s key claims about the effect of raising the minimum wage on jobs and poverty.
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