Economy Sputters Along

Washington touts the recent gains of the nation’s Gross Domestic Product (GDP) prove that the stimulus is working and that the worst of the recession is over. Secretary of the Treasury Timothy Geithner interviewed on “Meet the Press” Sunday explained how the stimulus package passed early this year helped bring the nation back from the brink of economic disaster. When pressed he was vague on gauging how many jobs were saved, or how to say the stimulus package worked!

Now we read that CIT Group Inc one of the banks that received taxpayer funding has filed for Bankruptcy, after receiving $2.3 Billion in government bailout; now it is highly unlikely that the government will get this money back. Since the administration has been in office money has followed out of Washington at an alarming rate and yet we have seen the deficit rise to historic levels, unemployment hovering close to 10%, and job prospects have failed to materialize like the president promised.

If this administration wants to create economic growth then start helping small businesses! The administration in one hand begins to help small businesses by easing credit but then on the flip side it makes it harder for businesses to create growth by handcuffing them with anti-growth legislation.

Today the president meet with his Economic Recovery Advisory Board, which included leaders from labor and business, unfortunately absent at the meeting was representative’s from small business.

Too often Washington listen’s to corporate America at the expense of small business! The administration needs to understand that 80% of all jobs created in this nation are by small business. Right now small businesses and entrepreneurs have a difficult time getting credit, burden by cumbersome regulatory laws, chaotic and confusing environmental regulation. Businesses consistently have to deal with litigation that consistently goes against business and pro-labor laws that Washington enacts to support its labor power brokers that goes against any semblance economic principles.

Washington needs to stop subsidizing and supporting corporate America and help small businesses across America. Once small business feels like they can grow without waiting to see what comes out of Washington and then you will see economic growth. If Washington doesn’t change its policy, America will only see economic stagnation!