What do you think about raising the minimum wage to $9 per hour in the US?

Obama recently advocated for raising the minimum wage to $9.

I am aware that anybody who has to survive on the minimum wage can barely make it, and may very well have to rely on public assistance, i.e. WIC, help with housing (Section 8, or living in a project), Medicaid, etc. However, one of my Conservative coworkers told me that if the minimum wage goes up, no company will be hiring people at anything other than part-time, because they won’t be able to afford paying the minimum. Now of course there will be companies that hire full time workers, but the ones that can get away with it (like many companies do now, I’m thinking of places like Dunkin Donuts and supermarkets, and a lot of stores like Kohl’s where everyone is part time) will only hire part time. That might be an unintended consequence of raising the minimum wage.

What do you think?