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Team Obama’s ‘Underpants Gnome’ theory of economics

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By Doug Powers  •  December 6, 2013 11:34 AM

**Written by Doug Powers

Want to create jobs? Apparently it’s as simple as this chart from OFA:

And who better to lecture about this than people in an organization where the minimum wage is $0?

What’s with the $10.10 an hour? Why not raise the minimum wage to $20.20 an hour, which, according to the Underpants Gnome, would increase the GDP by $65 billion and creating 280,000 new jobs (according to OFA’s “Department of Statistics We Pulled From Our Progressive Rear Ends”)? Or how about raising the minimum wage to $40.40 an hour, thereby creating… you get the point. But somewhere at an OFA meeting, somebody is saying “yeah, why not?”

Underpants Gnome economics is the next great push from the people who brought us “spend money to keep from going bankrupt.”

[youtube=http://www.youtube.com/watch?v=tO5sxLapAts&w=420&h=315]

**Written by Doug Powers

Twitter @ThePowersThatBe

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