The Herritage Foundation: Analysis of The Obama Budget

Minimum Wage

President Obama’s budget proposes raising the minimum wage to $9 an hour. This would hurt the very workers the President wants to help. When the price of something rises, people—both consumers and employers—purchase less of it. Americans responded to the higher cost of gas by driving less. Businesses similarly respond to higher minimum wages by hiring fewer low-skill workers. The vast majority (85 percent) of the most reliable economic studies find that raising the minimum wage reduces employment.

The President’s Budget on Health Care

Despite the current health care spending crisis, President Obama’s budget does little to significantly reform the existing entitlements (Medicare and Medicaid) and maintains the implementation of Obamacare—which creates two new entitlements and adds more than $1.8 trillion in new spending by 2023.

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