Obama Uses Pen to Price Workers Out of the Market

Thursday, February 13, 2014
By Paul Martin

by Sarah Lee
Unitedliberty.org
Thu, 02/13/2014

President Obama made good on a threat…ah, promise…yesterday and, using that executive order pen he likes to talk about and wave around, raised the minimum wage for federal contractors from $7.25 to $10.10, representing a nearly 40% spike:

Mr. Obama said the federal minimum wage needs to be raised across the board because the current rate, due to inflation, “is worth about 20% less than it was when Ronald Reagan took office – 20% less, a fifth less.”

The move is the first step in a broader fight over the minimum wage being pushed by Democrats during an election year and part of the president’s effort to narrow the income inequality gap. (Our colleagues at the Real Time Economics blog take a look at who benefits from a higher minimum wage.)

The Rest…HERE

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