president obama state of the union address transcript
President Obama's State of the Union Address on Wednesday night was high on rhetoric but short on math.
As with most Obama speeches, it was beautifully delivered. However, even where I agreed with the ideas, I couldn't quell a nagging suspicion that the numbers simply didn't add up, and indeed likely missed by a lot.
And let's face it, some of the ideas in the speech were just plain bad.
The Bad Ideas
At the top of the list was the proposed increase in the minimum wage to $9 an hour. It's sounds nice, but reality is a different story.
Economists pretty much universally agree that high minimum wages have the opposite effect: They increase the ranks of the unemployed.