AÂ roundtableÂ featuring leaders from Congress, the Obama Administration and small business leaders met to discuss a wide range of issues ranging from health spending to tax reform, and most importantly how these issues will affect the national debt.
According to a study by the National Small Business Association (NSBA), the national debt is the most pressing issue facing small businesses right now. The study revealed that 8 out of 10 small business owners believe the economy is on the wrong track, and 54 percent believe the small business climate will get worse within the next 2 years.
“As a small business owner, our swelling national debt is a serious topic among my peers,” said panelistÂ Al HerreraÂ , President & CEO of IPS of Louisiana Corp, a 20-person industrial supplier company inÂ Kenner, LA. “Small business owners across the country are looking to Congress and the White House to pass meaningful legislation to ensure our long-term prosperity and economic growth. A serious deal is the only kind of security that will encourage entrepreneurs like me to continue starting and growing businesses.”
“Today’s small businesses could be tomorrow’s big businesses, and even if they stay small, increased entrepreneurship helps foster innovation, create jobs, and bring in additional revenue to our federal coffers,” said Todd McCracken, President & CEO of the NSBA. “When I speak to NSBA members and other small business owners anecdotally, it’s clear they feel anxiety about the debt and that this anxiety is fueling their business decisions.”
The roundtable was organized by The Campaign to Fix the Debt, a non-partisan movement dedicated to asking lawmakers to work together on legislation to stabilize and reduce the national debt.