Because of the hostility toward (and ignorance about) business that permeates the Obama administration and the Far Left, they are overlooking an element that could have the effect of accelerating unemployment among low-skilled workers to exponential levels. That “joker in the deck” is automation. In their rush to increase the minimum wage and offer amnesty (or something like it) to an ever-increasing number of illegal immigrants, the administration and the Left are ignoring a reality that will compound the problems inherent in both goals. The recent increase in the federal minimum wage (and presumably the wage that federal contractors will be required to pay) to $10.10 per hour will, if adopted nationally, immediately result in the loss of some 500,000 jobs and possibly affect employment of up to a million workers, according to the report from the Congressional Budget Office (CBO). In reality, the long-term effect will be much more significant. Because the minimum...(Read Full Article)