Investors Business Daily shows the repercussions of nearly four years of the “You Didn’t Build That” presidency:
President Obama keeps blaming the faltering economy on his predecessor. But small-business owners believe the problem is with him. Survey results released last week by the National Association of Manufacturers and the National Federation of Independent Business confirm this.
Nearly seven of 10 small-business owners and manufacturers (69%) believe Obama’s policies have hurt them, while 55% say they wouldn’t start a new business in the current climate. The same 55% say that “compared to three years ago the national economy is in a worse position for American small-business owners and manufacturers to succeed.”
At the same time, two-thirds say there’s too much uncertainty in today’s market for them to grow and hire more workers, and 55% say “efforts of federal regulators to work with small businesses are getting worse.”
Another survey, this one by the Clarus Research Group, backs up the NAM/NFIB findings. It discovered that 69% of small-business owners and managers believe that confounding government regulations are “major impediments to the creation of new jobs.”
While small companies are refusing to hire until the government releases its chokehold on them, commerce is on the decline. As measured by the Institute for Supply Management-Chicago Inc., business activity contracted last month for the first time since 2009.
What these merchants and makers are saying should not be dismissed. Small businesses employ roughly half of all U.S. workers and are responsible for the bulk of hiring. They create more than 80% of all new jobs. That they feel America’s business environment is hostile is telling. …
Businesses don’t need any special favors from government. But they do need a president who believes government should get out of their way.