◼ Louisiana Gov. Bobby Jindal came up with the perfect name for the Obama economy that you’ll be hearing a lot during this year’s midterm election campaigns.
“After more than five years under this administration, the Obama economy is now the minimum-wage economy,” the Republican governor told reporters after a meeting he and his gubernatorial colleagues held with President Obama at the White House.
With his anemic economy still unable to produce enough jobs to put millions of unemployed Americans back to work full-time, Mr. Obama is offering a threadbare idea to raise the nation’s minimum hourly wage above $10. Congress‘ budget analysts say it could result in the loss of at least a half-million jobs and possibly a million.
The nonpartisan Congressional Budget Office said forcing small businesses to raise their hourly wages would result in layoffs to keep their payroll costs down, or cause employers to hire fewer low-wage workers.
In a nation with a workforce of 160 million people, millions of whom are jobless or can only find part-time work, this is a poor excuse for an economic recovery program. In fact, it is pathetic.
