Senior al-qaeda leaders in afghanistan and pakistan, even held organized attacks on u.s. and other allied forces ever since. i m jamie colby, back to bulls & bears. keep it right here on the fox news channel. brendal: meet alan krueger, the president s pick to lead his team to help turn around the economy. he s also a big time believer in hiking the minimum wage. but gary b, you say in this bad economy, the way to get jobs back is to ditch the minimum wage all together. absolutely, brenda. look. minimum wage is nothing more than a form of price control. that s what it is. and even if you believe wholeheartedly in the goodness of minimum wage, all you have to do is look at the statistics. the last time we bumped minimum wage in 2009, youth unemployment was 21%. it went to 30%. black teen unemployment is now
Over 40%, brenda. so it s not just wrong to say minimum wage is good. i think it s irresponsible, particularly in this economy. brendal: jehmu? pay more, they re going to buy more. that s what it comes down to. i think it s going back to the way henry ford looked at things. you take care of your workers. they are going to contribute to the economy in a much more significant way. and gary, i have to disagree with you on the facts because research shows and there is a reason why most economists backed away from arguing that the minimum wage decreases jobs. research shows in states that enacted the minimum wage prior to the federal law minimum wage being increased, that they did better than their neighboring states that did not. there are so many business leaders that have come out, especially looking at costco, who says the minimum wage adds actually to the economy and that s just i think a false argument that some folks on the
Years. brendal: we re not going there. you have workers making $22 an hour. brendal: okay. i m sorry thanks, guys. and thank you, jehmu, for joining us. we appreciate it. the federal government suing 17 financial institutions over risky mortgage lending. is your money in the bank safe? first, someone here says don t get used to the price you re paying to fill up your tank this weekend. this wicked weather in the gulf could have you paying 4 bucks a gallon by next week.
It s at it makes much of a difference either way. the statistics seem to prove that. if it was $15 an hour, yeah, it would lead to very high unemployment. this is the smartest thing gary b las ever said on this show because you got to eliminate this minimum wage. no doubt about it. it doesn t hurt the economy. it kills job growth in this economy. you got to get rid of it because it increases union labor costs. we re talking inflation now. you re looking at products are more expensive, services are more expensive. it doesn t cause people if they make more money to spend it. we see that in this economy. so right now you ve got to eliminate this minimum wage, or at least reduce it. you have to give the small business owner some type of incentive to hire more people. if it costs $9 to hire one person, if i have to pay them 4.50 an hour, why not hire two more people? it s simple math. brendal: jehmu, 30 seconds? forget the minimum wage, why don t we just have the wages of the salaries