Does Obama have a CBO problem?

A new report on the minimum wage is causing headaches for the White House

Obama
(Image credit: (Chip Somodevilla/Getty Images))

For the second time in as many weeks, the White House on Tuesday found itself racing to contain the political fallout from a potentially damaging report from the nonpartisan Congressional Budget Office.

In the latest instance, the CBO ran the numbers on President Obama's proposal to raise the minimum wage to $10.10 an hour, from $7.25, by 2016. Doing so would boost the income for about 16.5 million workers, the agency says — but at a cost of around 500,000 jobs.

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Jon Terbush

Jon Terbush is an associate editor at TheWeek.com covering politics, sports, and other things he finds interesting. He has previously written for Talking Points Memo, Raw Story, and Business Insider.