Obama Follows Through on Increase in Minimum Wage Pledge, Will it Help?

"So here's an idea that Governor Romney and I actually agreed on last year: let's tie the minimum wage to the cost of living, so that it finally becomes a wage you can live on."

While that is true, what this will also potentially decrease the number of jobs.  Yes, the minimum wage as it stands does not necessarily give those working for it a "livable wage"; however, I do not believe tying this to the consumer price index (CPI) is a good call.  You can read Forbes' take on this issue here.