Ask most business people today what they need more than anything else to grow their businesses, hire new workers, and expand their investments, and the answer becomes pretty clear: give them more customers.
It is a nice thought that the Federal Government is increasing lending options to small and medium-sized businesses and offering tax breaks for new investment.
Still, these well-intentioned policies will ultimately have little impact on the ability of firms to build sustainable growth in both the short and long-term.
It is not until customers return in a meaningful way that companies will be able to provide the foundation for America’s true economic recovery. And, much of the world’s as well.
As 70% of the U.S. economy- and more than 20% of all global GDP- is driven by the American consumer, it is ludicrous to be even thinking about raising taxes or eliminating “the Bush tax cuts”. Yet, that is exactly what is happening.
Lawmakers- many of them seeking re-election in November- would be wise to remember that until Americans begin to spend again, nothing much will occur. It’s the Customer, Stupid!