Obama Admits Minimum Wage Hike Will Increase Costs

Obama: Customers will accept paying more for higher minimum wage (Washington Examiner)

President Obama said Wednesday that consumers would be OK paying higher prices if they knew it was the result of an increase in the national minimum wage. He argued that there was therefore no practical reason for anyone to oppose a hike.

"I think that most of us are price-sensitive. We're not looking to over-pay. On the other hand, I'll bet that a lot of folks here, if they go to a restaurant, and they know that the people working there are making a living wage, the fact that they may be paying an extra dollar for a burger, would feel OK," Obama said, adding, "Some people might not be able to afford it, but a lot of people could."