Liar!

As John Hayward points out, President Obama’s increased minimum wage to $10.10 via executive order is not going to affect 2 million federal workers. They simply do not exist:

Clearly the two greatest problems facing America are that not enough people work for the federal government, and federal employees don’t make enough money. Are there really two million contractors pulling down the minimum wage, as the Administration claims? Even Hillary Clinton’s chauffeurs must get paid a lot more than that! Well, remember, this is the Obama Administration we’re talking about. Facts are Silly Putty in their hands.

Before you start outfitting any safari expeditions to go searching for this invisible cohort of minimum wage federal employees – whose numbers would comprise nearly half of all federal contractors, if the Administration’s claims are taken seriously – remember that the executive order only affects new contracts. Obama’s factoid dispensers could justify their claims by saying that over the next five, ten, twenty, or fifty years, there would have been two million minimum wage hires, so they’re not really “lying,” they’re just “assuming a historical context” that you forgot to assume when you thought they meant two million people would receive an immediate salary increase.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.

E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.