Same old same old. Thinking a rise in the minimum wage will bankrupt business is the old way of thinking, and while people cling to these useless concepts the economy will continue to fail, as a whole.
A business that cannot pay a rise in the "minimum wage", without failing, deserves to fail, or to have never been started in the first place.
Anyone who has ever owned an operated a successful business would understand this, its very simple really.
A rise in the minimum wage is a good thing, but either way it will not save the US economy, sadly.
Changes in macro-economic policies are what is needed to save the USA, and that is not going to happen while the government, (of any stripe), and business are simply shuffling deckchairs on a sinking ship, by tinkering with micro-economics.
Changes to the banking and finance sector, smarter regulation of the markets, is needed across many countries. This is the only thing that will change the outcome.