Census Shows 200,000 Small Businesses Shut Down From 2008-2010
According to Census figures, some 200,000 small businesses disappeared from the rolls between 2008 and 2010. Those businesses were responsible for some three million jobs. The Obama administration claims that they’re moving in the right direction – but the direction of the economy is now reversing itself.
Not surprisingly, Gallup finds that business owners are turning on President Obama. The national poll showed a 59-35 disapproval/approval split. Workers are split in favor of Obama, thanks in large part to Obama’s heavy emphasis on class warfare.
It is no coincidence that government spending has expanded dramatically during the same period that private sector businesses were going under. And it is no coincidence that, even as the economy falls back into a slump, from the mildest recovery in our lifetime, Obama believes that only more government spending can solve the problem.