Saturday, December 22, 2012

“Fighting the fiscal cliff.”

As a business owner, I have great concerns about the looming fiscal cliff. Last week I was invited to The White House to discuss this specific issue with other business owners and the President’s staff. The greatest concern for me is a real fear of a double-dip recession. It seems that who I did or didn’t vote for no longer matters. Why? Well, simply put, the gridlock in congress is preventing this country, and businesses like mine, from moving forward. A week marketplace, a conflicted nation, and a failure to formulate a basic pay-as-you-go system all are contributing to this culture of “fighting the cliff” vs. “fighting each other.” Let’s put aside our differences as to what approach is “right” and make finding common ground our priority as a nation.

To be more specific, I believe the only deal that will truly bring down our national debt must include both spending cuts AND revenue. It is just common sense! Business owners know this, people who run a household (on any budget) know this, so why can’t congress understand this? Furthermore, I’m frustrated because if we, as a nation, go over this “cliff,” consumer spending is predicted to drop, impacting businesses by $200 billion less in revenue for the incoming year! And, it just ins’t a drop in revenue that will result in layoffs. The loss in revenue will force small businesses, such as mine, that support the so-called big businesses to close!

Businesses small and large are guaranteed to suffer if this country goes off the “cliff.” As of December 13th, House Speaker John Boehner met with the President in what seemed to be a half-hearted attempt, between both parties, to find common ground on raising taxes and cutting entitlement spending on programs like Medicare and Social Security. After an hour, we weren’t any closer to moving towards a deal.

Business owners have to fight the cliff. Voices have to be prominently heard in order to hurry congress along and have them really invest in a deal that would restore both confidence in our political system followed by confidence in our marketplace.

Twyla Garrett
Business Owner

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