Small businesses were once rightly seen as the entrepreneurial backbone of our nation’s economy and way of life. But today they’re demonized by the White House as “millionaires and billionaires,” and the medicine that’s been forced down their throats — $830 billion of stimulus, $1.7 trillion of Fed mad-money, $700 billion of TARP bailouts and $1.75 trillion in yearly regulation costs — has only made them sicker.
Small businesses bear the brunt of this failed experiment in Keynesianism. U.S. Bancorp’s 2011 small business survey, just released last month, shows the vast majority of small businesses — 78% to be exact — “think the U.S. economy is currently in recession,” despite Obama’s whopping stimulus.
In short, our small-business job engine is broke. More than half of all businesses in the U.S. Bancorp survey cited one of three factors: Economic uncertainty, poor sales and excessive regulation.