President Obama has issued an executive order that establishes the minimum wage for government contractors at $10.10./hour. It is not his money, so it doesn’t bother him that this action will increase our national debt, which is already over $17 trillion. Contrary to White House claims, independent studies show an increased minimum wage would have little or no effect on poverty and, in fact, suggest a detrimental effect on employment, according to the Southern Economic Journal.
Our president claims otherwise, but he can not be trusted to tell the truth and his action will definitely add to the costs that will be incurred by our government and thus add to our taxes or debt. He contends that this is good for our economy but his past experience as a community organizer really does not provide a background that leads him to take the proper action to help our economy. Let’s hope we can survive three more years.