The one concern most Americans have for the coming year is what will the upcoming year bring in relation to job creation?
Last August, the National Small Business Association (NSBA) released its 2013 Mid-Year Economic Report. It found that many small businesses still see their most pressing challenges for survivability and growth as economic uncertainty, declining consumer spending, cost of health care, regulatory burden, and taxes. None of these issues have been addressed with last month’s federal budget agreement.
The upcoming year will be a repeat of 2013, and could worsen with the unforeseen impact of ObamaCare on small business.
Unfortunately, Americans don’t care about the partisan squabble between the Democrats and Republican; they just want good paying jobs.
Last month the president spoke on “Economic Mobility” and the rising inequality in America, stating, “I believe this is the defining challenge of our time: Making sure our economy works for every working American. It’s why I ran for President. It was at the center of last year’s campaign. It drives everything I do in this office. And I know I’ve raised this issue before, and some will ask why I raise the issue again right now. I do it because the outcomes of the debates we’re having right now — whether it’s health care, or the budget, or reforming our housing and financial systems — all these things will have real, practical implications for every American. “
The problem is, the President will be entering his sixth year in office and by all statistical analysis almost all groups have fared worse under his economic policies. He consistently decries the wealthiest Americans for doing better but his own polices and that of the Federal Reserve have contributed to this inequality and persistent high unemployment.
We are beginning to witness the effect of his signature issue of “ObamaCare” and we will see first hand when the employer mandate kicks in and businesses have a choice of paying for health care with its rising costs or canceling polices and forcing everyone on the federal exchange.
Republicans have also been complicit in creating uncertainty in the economy by forcing a government shutdown in October. One only has to look back as Republicans are found of doing and reminiscing about the days of the “Reagan Presidency”; but they fail to mention he was able to work with the Democratic Speaker of the House, Tip O’Neill.
Both sides need to work to reach common agreement and create an atmosphere of bi-partisanship and get this country moving forward.
Both sides claim to be for the middle class, but if you truly want to help, get small businesses moving again by reforming the tax code and undue the regulatory burden placed on their backs by government. This looks to continue in 2014, with the president utilizing the “nuclear option” by having the executive branch push for more regulation into the economy, without going through Congress.
ObamaCare is the unseen wild card and its impact on businesses, considering 75% of all jobs last year were part-time; hardly enough to jump start a listless economy.
We will see what the president proposes this month when he gives his State of the Union address to the nation, and we will see what the Republicans response will be.
Not holding my breath that either party will address the problems confronting America.
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