U.S. small-business owners who aren’t hiring — 85% of those surveyed — are most likely to say the reasons they are not doing so include not needing additional employees; worries about weak business conditions, including revenues; cash flow; and the overall U.S. economy. Additionally, nearly half of small-business owners point to potential healthcare costs (48%) and government regulations (46%) as reasons. One in four are not hiring because they worry they may not be in business in 12 months.
Three years ago, Obama declared:
I will be held accountable. I’ve got four years. A year from now, people are going to see that we’re starting to make some progress, but there’s still going to be some pain out there. If I don’t have this done in three years, then this is going to be a one-term proposition.
Three years from that statement would be February 2012. Obama has seven months to demonstrate a significant improvement in the economy he inherited.
I wonder if Tim Geithner regrets writing an op-ed entitled “Welcome to the Recovery” in the New York Times on August 2, 2010.
I wonder if Ron Sims, deputy secretary of housing and urban development, regrets writing on the White House blog that “this summer is sure to be a Summer of Economic Recovery” in June 2010.
Finally, I wonder if Debbie Wasserman Schultz regrets saying in June, “I’m going to take ownership right now because we began to turn the economy around.”