Today President Obama travelled to Edison, New Jersey to talk about his plans for the economy and small business. He was there, specifically, to promote new legislation aimed at helping small businesses. Oddly, I agree with the president that government can play a role in helping small business by “knock[ing] down barriers that keep entrepreneurs from opening or expanding.” Although I disagree that we need another sweeping piece of legislation to do this.
And what’s certain is that more spending is not the answer. As Bankrupting America so deftly reveals in their blog today, all that stimulus spending did zilch to spur economic growth in New Jersey.
The most important thing for small businesses is reducing uncertainty and encouraging investment. That’s why making President Bush’s tax cuts permanent, for instance, would go a long way toward helping small business. Unfortunately, it looks like Democrats are planning on doing just the opposite. (Check out Carrie’s article on what to expect in 2011 here.)
