Are the print outs fine from the other applications such as 'Mspaint' or iphotos on mac.
if yes then Most likely, this is a Color Management issue. Do you have Photoshop Elements current set to control Color Management, or the Printer? If Elements is handling the Color Management, are you using the correct profile for this printer and the paper type you are using?
To check your color management settings, in the Elements print dialog, click the "More Options" button down at the bottom. Then choose "Color Management" from the list of options on the left.
