Pay attention to CBO estimate on job losses

President Barack Obama and fellow liberals claim to want to lift more Americans out of poverty. But their newest pet project would plunge half a million people deeper into it.

Obama and liberals in Congress want to increase the federally mandated minimum wage. They insist it would help millions of Americans.

But economists warn it also would eliminate many minimum-wage jobs.

The widely respected, nonpartisan Congressional Budget Office has estimated the increase would eliminate about 500,000 jobs by 2016.

The CBO report ought to put an end to talk about a minimum wage increase.