Obama to order minimum wage hikes for federally-funded employees

In his State of the Union address Tuesday, President Barack Obama said he would issue an executive order requiring federal contractors to pay their federally-funded employees at least $10.10 an hour. He called on business leaders across the country to also raise minimum wages. "Give America a raise," he said. He also introduced plans for a new savings bond, a myRA, that will help workers contribute to their retirement savings.