We’re only halfway through June,and it’s already been a tough month of economic news. Amid mounting concerns in Europe, the U.S. stock market continues to be turbulent after an unforeseen slow down in private sector hiring. Last month, the economy added just69,000 jobs — well below government estimates — increasing national unemployment to 8.2 percent.Here in Nevada, unemployment has hovered at 12 percent for months. Many economists are pinning the economic “recovery” as among the slowest and most tepid in history.
That’s why we were startled to hear President Barack Obama at a White House press conference give the economy a clean bill of health.In addressing a reporter’s question,the president stated emphatically that “the private sector is doing fine.” That’s hard for us to understand.Talk to any Nevada small business owner — from Washoe to Clark County — and you’re likely to hear a very different answer.
Contrary to the President’s assertion, we are not doing fine.The private sector has been way laid by ill-conceived health-care mandates,uncertain tax policy, and more and more costly federal environmental and labor regulations. In fact, the abundance of new regulations enacted in the past three years is particularly worrisome for small-business owners. In 2010, the number of major federal regulations increased by 22 percent from the year before.
(Source: Nevada Appeal, 6/17/12, “No, Mr. President, small businesses are not fine,” Op Ed by Government Relations Director for the Reno-Sparks Chamber of Commerce Tray Abney and NFIB NV Director Randi Thompson)