Written by: Jordan Hill

In the words of Kristen Wiig in the movie Bridesmaids, “Help me. I’m poor!”

According to the U.S. Department of Labor website, the last minimum wage increase occurred in 2009 after Congress passed the Fair Minimum Wage Act of 2007.

This act occurred in three steps. Minimum wage increased to $5.85 per hour on July 24, 2007; to $6.55 per hour on July 24, 2008; and to $7.25 per hour on July 24, 2009.

Now, five years later, President Obama proposes another minimum-wage increase. As a part-time employee and full-time student, I am ecstatic about this proposal.

Will this change be as positive as I dream it to be or will such a law further wreck our economy?

After a downward spiral in the economy, Obama believes Americans and the economy are on the mend. While his proposal for a minimum-wage increase has stalled in Congress, Obama plans to issue an executive order that will increase minimum wage for workers under new federal contracts.

Obama wants to work with Congress to raise the federal minimum wage for all workers from $7.25 to $10.10 over three years.

A few states have already raised their minimum wage and President Obama urges others to follow their example. While other states have a choice to jump on the bandwagon early, President Obama will make it happen regardless of what states do right now.

Our economy is constantly changing, which means we must change as well, but let’s take a realistic look at this proposal.

The main concern is that the proposal will discourage employers from hiring more workers. With small business owners having to pay their employees more per hour, they may downsize their staff. This increase in minimum wage may put thousands of young adults out of work.

Additionally, a wage increase would force businesses to raise their product prices to match the increased wages, eventually costing customers more money.  And if people working low-end jobs get a raise, won’t people that have a degree in their field want a raise as well?

As great as a $3 raise sounds, it’s faulty. Thousands of citizens will lose jobs due to a lack of money−money President Obama thinks businesses can pull out of their back pocket.I would love an increase in my hourly wage. However, I have to explore all aspects of this plan, not just the parts that help me. Is what’s good for the goose really good for the gander?