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Obama's Small Business Problem

- September 19, 2012

Obama's Lack Of Concern For Small Business Has Resulted In Greater Anxiety, Less Hiring, And More Economic Stagnation

OVER THREE YEARS OF OBAMANOMICS HAVE FAILED SMALL BUSINESSES

As Of August 2012, The National Federation Of Independent Businesses (NFIB) Small Business Optimism Index Is "Still Another Solid Recession Reading." "The Optimism Index gained 1.7 points, rising to 92.9. Although an improvement, the number is still another solid recession reading. There were some positive signs however, the employment indicators for the fourth quarter improved substantially as did plans for capital outlays. However, few think the current period is a good time to expand at 4 percent." (William C. Dunkelberg and Holly Wade, "NFIB Small Business Economic Trends," National Federation Of Independent Businesses, 9/11/12)

The Percent Of Small Business Owners Who View The Current Period As A Bad Time To Expand Due To Political Uncertainty Reached A New Record High For This Business Cycle. "The percent of owners viewing the current period as a BAD time to expand due to political uncertainty reached a new record high for this business cycle at 22 percent." (William C. Dunkelberg and Holly Wade, "NFIB Small Business Economic Trends," National Federation Of Independent Businesses, 9/11/12)

23 Percent Of Small Business Owners Cited Taxes As Their "Single Most Important Problem," The Highest Of Any Other Problem Polled. "Only 3 percent reported that financing was their top business problem, compared to 23 percent citing taxes, 20 percent citing weak sales and 21 percent naming unreasonable regulations and red tape." (William C. Dunkelberg and Holly Wade, "NFIB Small Business Economic Trends," National Federation Of Independent Businesses, 9/11/12)

  • 21 Percent Cited "Unreasonable Regulations And Red Tape." "Only 3 percent reported that financing was their top business problem, compared to 23 percent citing taxes, 20 percent citing weak sales and 21 percent naming unreasonable regulations and red tape." (William C. Dunkelberg and Holly Wade, "NFIB Small Business Economic Trends," National Federation Of Independent Businesses, 9/11/12)

Small Businesses Are Hiring Less And May Not Give The Economy "The Boost It Needs." "Many small business owners aren't hiring or expanding because the outlook for the economy, or their own companies, is uncertain. That raises the question of whether small businesses will give the economy the boost that it needs. Economists say that in past recoveries, small companies were the first to hire. When the economy was improving, they were more nimble than large companies because they didn't have the bureaucracy that can slow the hiring process. Their hiring helped propel the economy forward. The economy is growing, but that growth has slowed - and so has the pace of hiring among business with less than 500 employees." (Joyce M. Rosenberg, "Why Small Business Owners Are Hesitant To Hire," The Associated Press, 5/2/12)

Obama And Small Business Owners Have Different Views On The Economy

May 2011: Obama Said "The Economy Is Now Recovered." OBAMA: "And as Debbie mentioned, because of the actions we took, the economy is now recovered; it's growing again." (President Barack Obama, " Remarks By The President At A DNC Event," Washington D.C., 5/19/11)

June 2012: Obama Said That "The Private Sector Is Doing Fine." OBAMA: "The truth of the matter is that, as I said, we've created 4.3 million jobs over the last 27 months, over 800,000 just this year alone. The private sector is doing fine." (President Barack Obama, Remarks During A Press Conference On The Economy , Washington D.C., 6/8/12)

July 2012: Obama Said "We Tried Our Plan - And It Worked." OBAMA: "We tried our plan - and it worked. That's the difference. That's the choice in this election. That's why I'm running for a second term." (President Barack Obama, Remarks By The President At A Campaign Event, Oakland, CA, 7/24/12)

It Is No Wonder Small Business Owners Have An Unfavorable Opinion Of Obama

Less Than 26 Percent Of Small Business Owners Indicate They Will Vote For Obama. "The majority (61 percent) of small business owners say they plan to vote for Romney and only 26 percent say they plan to vote for President Barack Obama - down 6 percent since May." (Press Release, "As Election Nears, Small Business Owners Migrating Towards Romney," Manta, 8/21/12)

  • "Only 19 Percent Of Small Business Owners Feel Obama And The Democratic Party Best Support Small Business, A 7 Percent Decrease Since The Last Poll In May." (Press Release, "As Election Nears, Small Business Owners Migrating Towards Romney," Manta, 8/21/12)

Obama Is Losing Favor Of Small Businesses, "And It's Not Even Close." "Main Street has already proved an important battleground in the presidential election. So which candidate is winning the favor of small business owners? Mitt Romney, and it's not even close, according to a new poll."(J.D. Harrison, "Poll: Romney Widens Lead Among Small Business Voters," The Washington Post , 8/21/12)

Gallup: "U.S. Business Owners Now Among Least Approving of Obama" ( Gallup , 25,464 A, MoE 2-6%, 5/1-6/30/12)


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