In the year ended September 30, 2009, small business bankruptcies in California increased by 81% over 2008. Nationwide small business bankruptcies are up 44%. There is no way to know how many more small businesses simply closed down and went out of business.
The Obama administration simply does not understand that what small businesses need is customers, not tax breaks for hiring new employees.
The reason that this is extremely important is that small businesses create over two-thirds of all new jobs, year in, year out. By letting small businesses fail, the Obama administration is destroying any real chance of economic recovery.
For the first quarter EVER, the number of homes in foreclosure topped ONE MILLION! The Obama administration simply does not understand that when you do not have a job, you can't make mortgage payments.
Jobs, jobs, jobs, It is jobs stupid!!! The lack of comprehension of this simple fact by the millionaire economists and politicians in Washington is getting really scary!!
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