The minimum wage is the black teenage unemployment act. It is the guaranteed way of holding the poor, the minorities and the disenfranchised out of the mainstream is if you price their original services too high.
Presidents with strong nerves are decisive. They don't balk at unpopular decisions. They are willing to make people angry. Bush had strong nerves. Clinton, who passed up a chance to eliminate Osama bin Laden, did not. Obama is a people pleaser, a trait not normally associated with nerves of steel.