New York Times Study Calls for Rapid Change in Newsroom(nytimes.com)

  ...the belief that lower wages would raise overall employment rests on a 
  fallacy of composition. In reality, reducing wages would at best do nothing 
  for employment; more likely it would actually be contractionary.

  Stanford University economist Paul Krugman, however, said raising the 
  minimum wage and lowering barriers to union organization would carry a 
  trade-off --- increased unemployment.

  It turns out that there's a strong correlation between budget deficits 
  and interest rates - namely, when deficits are high, interest rates are 
  low ... On reflection, it's obvious why...

  But we're looking at a fiscal crisis that will drive interest rates 
  sky-high. A leading economist recently summed up one reason why: 
  "When the government reduces saving by running a budget deficit, 
  the interest rate rises."