On Friday, 9/17, Joe Kernan of CNBC’s Sqawk Box interviewed the brilliant, ebullient co-founder of Home Depot, Bernie Marcus, about Obamanomics. Marcus knows business well; in 1978, he and two other businessmen started the Home Depot with the dream of building the Walmart of home building products. He understands, first hand, the struggles of the small business owner. However, he says, the President doesn’t.
Bernie indicates that President Obama, Nancy Pelosi and Tim Geithner don’t have a clue as to how to jumpstart this economy. Small business people now are struggling to get ahead, financially, but find they are dealing with new federal regulations almost on a daily basis. Small business owners tell Bernie that it’s not the unavailability of loans or lack of money that holds them back; it’s the uncertainty of the economic future. Obamanomics creates a fear of losing everything as the government regulates more, raises taxes and undermines those who make more than $250,000.
Businesses are cutting back employees, doubling workloads and cutting costs with no end in sight. They fear the unfriendly attitude towards creating wealth from this administration will destroy American businesses. The government needs to get out of the pockets of small business. For the entire interview, click HERE