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CBO Confirms: $15 Minimum Wage Spike Would Cost Nearly 1.5 Million American Jobs

Who could’ve seen this coming!?

John Salvatore

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Democrats are proud to remain ignorant on politics, economics and history. That’s a deadly combination, considering the radical left controls the White House and both chambers of Congress.

The whole “raising the minimum wage” argument is simple: if wages go up, businesses will be forced to raise prices on customers to make ends meet, while also cutting workers’ hours or stop hiring altogether.

Who wins in that scenario, Dems?

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In a report released Monday, the Congressional Budget Office said that hiking the minimum wage to $15 might reduce poverty, but at the cost of 1.4 million jobs and by adding billions to the federal deficit.

President Joe Biden and Sen. Bernie Sanders (I-VT) have both pledged to back legislation raising the federal minimum wage to $15 — what both the president and the socialist Senator call a “living wage.” Initially, both Biden and Sanders wanted to include the minimum wage hike in an upcoming COVID-19 economic relief package, but with Democrats intent on passing that bill through “reconciliation,” it may have to be offered separately.

[…]

The jump would “cut employment by 1.4 million workers and increase the federal deficit by $54 billion over a decade,” the outlet notes. And while federal spending on things like supplemental food aid programs might decrease, “spending on Medicaid and unemployment benefits would increase because of higher enrollment by those who lose their jobs.” Prices on goods and services would also rise, The Wall Street Journal adds.

It could not be easier to defeat a liberal argument. All you have to do is use their own words against them.

For example, Democrat Socialist Alexandria Ocasio-Cortez was upset that she had to pay $7 for a croissant – as anyone would be.

But how is it so hard for AOC to see why she’s paying $7?

A basic lesson in economics should have Ocasio-Cortez understanding that when minimum wages rise, so do the costs of goods.

Hasn’t she ever heard of supply and demand?

LOOK:

Reactions:

AOC then fired off another tweet after being resoundingly mocked, as per usual…

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Inefficiency and ‘Too Big To Fail’ Government Contracts Sting The Taxpayer

Gary S. Goldman is the nationally recognized host of “Business, Politics, & Lifestyles” a weekly talk show airing on WCRN 830 in Metro Boston MA. Learn more at garyonbpl.com.   

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There are many problems with government contracting. The Federal News Network identified one problem when they reported on May 11, 2021, “The longer it takes the Biden administration to get its final fiscal year 2022 appropriation request out, the worse it’ll be for federal contracting. By one account, the final numbers might not get until February.” That is February of 2022, because they will likely not finish work on appropriations until the end of the year while the Fiscal 2022 year starts on October 1, 2021. Inefficiently usually leads to taxpayers paying more for less. There is another problem for the taxpayer, and it is enormous long term federal contracts that are on autopilot. During the 2008 financial crisis, Americans learned the danger of “too big to fail.” Banks that had lent foolishly had to be bailed out at great expense. Well, these days we are relearning the lesson of “too big to fail.” Except now the government has put itself on the hook. The issue this time revolves around federal government contracting, especially at the Pentagon. The problem begins in a different era, the 1990s. Back then, the United States was the unchallenged and unchallengeable power. The Soviet Union had collapsed, and the rest of the world was either allied with us our cowed by us. At that time, the goal was to develop a new generation of weapons that would expand military dominance for decades to come. The federal treasury was overflowing, and money was no object. Leaders decided to back the F-35, a Joint Strike Fighter that would, supposedly, be able to replace jets used by the Air Force, the Navy, and the Marine Corps. A big problem with the plan is that it relied, as so many government projects do, on a single contractor. The entire F-35 contract went…

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Army Releases Woke Lesbian Recruitment Video, But Still Finds Woman Can’t Pass Fitness Test

The U.S. Army released a new woke recruitment video to appeal to lesbians.

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The U.S. Army released a new woke recruitment video to appeal to lesbians, yet the Pentagon has admitted that female soldiers still can’t pass the fitness test, even after they were downgraded. The Army released its animated advertisement featuring a girl raised by two pride parade-marching, lesbian mothers. Per the Washington Examiner: The advertisement, titled Emma: The Calling, showed a girl’s childhood before she joined the Army as a Patriot Missile operator. The two-minute video followed Emma while she watched her two mothers get married, joined a sorority at the University of California-Davis, and fought for “freedom” at a young age by participating in a gay rights parade. “It begins in California with a little girl raised by two moms. Although I had a fairly typical childhood, took ballet, played violin, I also marched for equality. I like to think I’ve been defending freedom from an early age,” she said in the advertisement, which was posted to YouTube on May 4. “When I was 6 years old, one of my moms had an accident that left her paralyzed,” she continued. “Doctors said she might never walk again, but she tapped into my family’s pride to get back on her feet, eventually standing at the altar to marry my other mom.” WATCH: https://youtu.be/MIYGFSONKbk Meanwhile, the Pentagon has had to admit that nearly half of the female soldiers have failed the already weakened Army Combat fitness Test during the first half of 2020. https://twitter.com/StevenBeynon/status/1391753154279231494 The ACFT consists of six different events, and the test has been changed since last year. Women are now allowed to skip the leg tucks, which had a 41 percent fail rate. Even though the test has been weakened, 44 percent of women still failed the test in the first half of the year. The Army had already…

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