Small businesses are the engine of job creation in our economy. However, in their monthly survey of small businesses, the National Federation of Independent Businesses found that 74% of small business owners did not hire in April. Today, Bernie Marcus the co-founder of Home Depot writes, “Small businesses create two out of every three new jobs in America. When small businesses struggle, the entire economy suffers. Rather than encouraging economic growth, policies from Washington are making it difficult for small businesses to grow into bigger businesses. Massive government expansion into health care, banking and a wide variety of other areas has become a major hurdle to job creation — and small businesses are being hit the hardest.” While President Obama and Democrats continue to push for more Washington spending they claim will get the economy going, House Republicans remain squarely focused on getting government out of the way and reducing red tape, so small businesses can begin to grow, hire and thrive again.
Today In History: In 1800, President John Adams ordered the federal government to pack up and leave Philadelphia and set up shop in the nation's new capital in Washington, D.C. After Congress adjourned its last meeting in Philadelphia, Adams told his cabinet to make sure Congress and all federal offices were up and running smoothly in their new headquarters by June 15. Philadelphia officially ceased to serve as the nation's capital as of June 11, 1800.
Birthdays: Lynn Sweet, Kathleen Sebelius, Madeleine Albright, Roger Ailes, Jamie Lynn Sigler, David Charvet, Emmitt Smith, Jasper Johns
Here are the Top 6 things you need to know today…
1. State of Play: Poll: More Optimism About The Economy, Still An Overwhelming 71 Percent Rate The Economy As 'Poor'. Though an overwhelming 71% rate economic conditions as poor, a 58% majority predict they will be good a year from now. While those surveyed are inclined to say they are worse off financially than a year ago, nearly two-thirds say they think they'll be better off this time next year. The assessment of personal finances already is on the upswing. More than a third report they are better off than they were a year ago - the highest number since before the economic meltdown in 2008. (They're still outnumbered by the four in 10 who say they're worse off, though.) USA Today/Gallup
2. The Economy: Rep. McMorris Rodgers: Economy & Jobs Are The Issues That Women & Families Care About, Republicans Are Focused On Getting People Back To Work. “Republicans are about getting people back to work, that's the best thing that we can do for women, it's the best thing we can do for families. Fifty percent of children right now that are graduating from college are unemployed and underemployed. We have had the longest streak of unemployment since the Great Depression, of high unemployment, over 8 percent. We have a record debt this President has accumulated, $5 trillion in debt. These are the issues that women and families are concerned about and women are the decision makers in the country.” CNN's John King USA
3. Pro-Growth: Rep. Garrett: The Freedom Of The U.S. Capital Markets Is Under Attack. The reason economic growth is stuck in neutral is because the Obama administration is determined to regulate risk out of our capital markets. Put another way, President Obama believes that state-controlled capitalism is the best path to economic prosperity. As a free-market capitalist, I couldn't disagree more with President Obama's vision for America's economy. I believe that market-driven capitalism fueled by free ideas, free people and the freedom to take risk is what creates economic prosperity. Robust economic growth requires healthy and dynamic capital markets, the ability to access credit and some good old-fashioned competition. In the past, policies mindful of basic economics allowed our capital markets to become the deepest and most liquid in the world. In fact, our capital markets became the envy of the world specifically because government got out of the way so that they could flourish and grow. Investor’s Business Daily
4. Small Biz: Entrepreneurs & Small Businesses Will Generate Growth Needed To Get The Economy Back On Track. A new survey from Manta small business solutions found nearly half (48%) of small business owners believe the GOP is the political party most friendly to their needs…Mitch Marrow, owner of the SPOT Experience in New York City said he is planning to vote for Mitt Romney in the 2012 elections. Marrow who opened his dog sitting company in 2010, said he has not been happy with the current political status quo. “I would hate to see us lose ground and slip back to where we were a year ago,” Marrow said. “We have to take the unnecessary hurdles away from people, like myself, who are willing to be entrepreneurial. Large corporations are not what will pull us out of this current state. It will be the growth of small businesses.” Fox Business
5. Regulatory Row: Small Business Owners Struggle To Survive Amid An Unprecedented Regulatory Onslaught. Since the financial crisis and throughout the sluggish economic recovery, working families and small-business owners have watched as the federal government has engaged in a grand experiment in government-led economic engineering. That experiment has failed...Small businesses create two out of every three new jobs in America. When small businesses struggle, the entire economy suffers. Rather than encouraging economic growth, policies from Washington are making it difficult for small businesses to grow into bigger businesses. Massive government expansion into health care, banking and a wide variety of other areas has become a major hurdle to job creation — and small businesses are being hit the hardest…The Home Depot is the fastest growing retailer in American history, but it wasn't always big. When we started in 1978, we began with two stores. Going from two to more than 2,000 was not easy. In today's environment, I'm not sure we could have started The Home Depot and survived, much less thrived. The time, energy and manpower it takes for small businesses to comply with new and often duplicative rules takes away from their efforts to serve their customers and grow their businesses. Over the past three years, Washington has issued more than 10,000 rules that impose an estimated $16 billion in new costs. Investor’s Business Daily
6. Energy Focus: President Obama’s War On Coal, More Failed Energy Policies. Recent news that President Obama's re-election web page on energy policy didn't include coal on the list of "all of the above" energy sources sparked outrage in coal-producing states like Kentucky, Virginia, West Virginia, Ohio and Pennsylvania. The website had listed oil, natural gas, bio-fuels, wind, solar power and nuclear power but omitted coal, a fossil fuel that left-wing environmental groups despise… Coal accounts for well over one-third of electricity production in most states, and coal mining is a major source of union jobs… The original decision to leave coal off of the list was exposed by Ed Whitfield, the Republican congressman from Kentucky, who called it a "glaring omission" and relentlessly attacked the Obama campaign for putting coal jobs at risk. Mr. Whitfield has made the case that Mr. Obama and the Environmental Protection Agency have been engaged in a "war on coal." He remains "skeptical" that Obama will "do anything to draw on this resource" and continues to fume at new EPA regulations that threaten to put many coal-burning fire plants out of business…Mr. Obama's energy policies are increasingly seen as a failure both in terms of increasing production and reducing prices, and the latest controversy over coal only adds to that perception. Wall Street Journal
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