October 17, 2013

The Ripple Effect is Enormous

While the end of the government shutdown may have stopped the bleeding, small businesses have already hemorrhaged from the effects of two weeks of closed government doors.  I had the honor and privilege to appear Tuesday, October 15 before the U.S. Senate Committee on Small Business and Entrepreneurship.  Under the leadership of Chair Mary Landrieu (Louisiana), the Committee conducted hearings on the effect of the shutdown on small businesses and banks.

I am pleased to post my opening testimony here.

The entire hearing may be viewed at http://c-spanvideo.org/program/SmallBusinesse; my opening statement is at the 0:44 minute mark.  Questions and Answers followed.

I have grave concerns about the “kick the can down the road” legislation that was the supposed “solution” to the problem.  While we await the next budget and debt ceiling cliffhangers in the first quarter of 2014 (why should these be any different from the past ones?), what will the effect of continued uncertainty have on consumer confidence and corporate investment?

It’s time our leaders govern.  This is not a Democratic issue.  This is not a Republican issue.  This is an American issue.