I hate to say I told you so, but...

I told you so. Just not in quite a high-minded economics fashion.

Wait, let me retract that. I said months ago that it's basic economics: raise the cost of labor, and demand for labor will decrease.

The argument for a "living wage" or a higher minimum wage has almost always been based on specious emotional reactions and not on sound economic facts. I maintain that the two quickest, best things that Our Gov't could do to mitigate both the current economic situation and the longer-term budget deficit would be to reduce corporate income taxes and lower minimum wage, with reduction of personal income taxes a close third. This would stimulate business development, production, hiring, investment, and make the US a more attractive business environment to foreign firms. All of which would, in aggregate and over time, increase the tax base and gives us a fighting chance to lower the deficit before our children are grandparents (assuming hell freezes over and Our Gov't reduces spending).