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CBO report says raising minimum wage would cost jobs, decrease poverty




Protesters rally outside of a Wendy's in support of raising fast food wages from $7.25 per hour to $15.00 per hour on December 5, 2013 in the Brooklyn borough of New York City. A growing number of fast food workers in the United States have been staging protests outside restaurants, calling for a raise in wages, claiming it is impossible to live reasonably while earning minimum wage.
Protesters rally outside of a Wendy's in support of raising fast food wages from $7.25 per hour to $15.00 per hour on December 5, 2013 in the Brooklyn borough of New York City. A growing number of fast food workers in the United States have been staging protests outside restaurants, calling for a raise in wages, claiming it is impossible to live reasonably while earning minimum wage.
Andrew Burton/Getty Images

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The Congressional Budget Office released a report this week on how increasing the federal minimum wage would affect workers and businesses across the country. Here in California, the minimum wage is set to increase to $9 per hour in July and $10 per hour in 2016.

Michael C. Bender wrote about this for Bloomberg and joined us to discuss the pros and cons within the report and how it's playing out politically.