Your request comes before the next budget cycle. Congress does this all the time. You evaluate your boss's temperament and approach him or her on an up day. Never underestimate the power of good or bad moods. A rising tide doesn't necessarily raise all boats.
Individual merit is increasingly important when determining compensation.
Your company is downsizing. While the economy is thriving, many organizations are in the throes of layoffs. Asking for more money if your company is struggling is futile and ill-advised. New management has just arrived. They don't know you, so from their perspective you have no track record.