While President Obama thinks it’s okay to joke about the fact that his stimulus failed to create the promised jobs, the latest reports from the NFIB and Gallup show that the state of the economy is no laughing matter. With nearly two-thirds of small business saying it’s a “bad time to expand” and economic confidence among Americans lower now than it was a year ago, the nation needs serious pro-growth solutions from the President ... not jokes.
The Latest NFIB Report Shows That Uncertainty Over Tax Increases and Burdensome Regulation Has Made Small Business More Pessimistic. A combination of weak consumer spending, rising taxes and regulatory red tape helped make small business owners more pessimistic in May, according to data released Tuesday, its third consecutive month of decline. (The Wall Street Journal, 6/14/11)
- Nearly Two-Thirds Of Small Business Say It’s A Bad Time To Expand. By all indications, the pessimism is widespread. A full 63% of those surveyed viewed the current environment as a bad time to expand; of that number, 71% cited the weak economy, the NFIB said. (The Wall Street Journal, 6/14/11)
President Obama’s Failed Economic Policies Have Led To No Improvement In Unemployment or Underemployment From A Year Ago. Unemployment and underemployment as measured by Gallup have shown no improvement compared with a year ago. (Gallup, 6/14/11)
- Gallup Also Finds That Economic Confidence Among Americans Is Even Lower Now Than It Was A Year Ago. A sharp deterioration in the jobs outlook and six straight weeks of Wall Street declines sent Americans' confidence in the U.S. economy plunging to an average of -35 during the week ending June 12 -- a decline of nine percentage points from two weeks ago, and six points worse than it was in the same week a year ago. Economic confidence is now approaching a 2011 weekly low. (Gallup, 6/14/11)