President Obama’s “Famous” Words on the Minimum Wage

In a recent speech on income inequality, President Obama claimed “there’s no solid evidence that a higher minimum wage costs jobs.” However, the president’s statement is plainly contradicted by the evidence. Even the Washington Post – itself no opponent of a higher minimum wage – gave his statement “Two Pinocchios” for its inaccuracy.

To make this point, the Employment Policies Institute (EPI) ran a full-page ad in Politico depicting four (in)famous lies told by Washington politicians – from President Bill Clinton’s initial denial of “sexual relations,” to reading George H.W. Bush’s lips about new taxes, to the President’s recent health care and minimum wage claims.

Given that 85 percent of the most credible studies on the subject point to job loss following a wage hike, the next question is will President Obama continue to stand by his false statement? Or will he eventually turn to the truth as did Clinton before him?