We could make it within the parameters that you describe -- but I think that's largely because we've had a period of higher income to pay down debts and such. We don't have any car payments or cc payments currently which makes a huge difference -- but if we'd been living on min. wage all along I don't know if that would be the case, yk?
Makes me think of an episode of Morgan Spurlock's (the Super Size Me guy) show 30 Days where he and his wife live on minimum wage for a month. Here's a
detailed review if anyone is interested.