No matter how many times President Obama says we’re in a recovery, we just don’t have a lot to make us really feel like we’re rebounding from the world economy since the Great Depression. Recent unemployment numbers were less than expected, with a staggering number of Americans who just pulled themselves out of the job market entirely. It just doesn’t feel like an economy on the rebound, does it.
In a down economy, combating poverty always seems to become a priority. President Obama’s answer seems to be not just extending unemployment benefits — a measure that Republicans don’t actually oppose, they just want to identify cuts to pay for the extension — but also raising the minimum wage.
Of course, that’s not a problem if you don’t mind killing around 1 million jobs in the process:
The Obama administration’s proposal to raise the minimum wage to $10.10 an hour could result in as many 1,084,000 jobs eliminated from the work force, according to a new study conducted by the Employment Policies Institute (EPI)