NSBA President Talks Middle Class and Small BusinessApril 25, 2013
Washington, D.C. – Today, NSBA President and CEO Todd McCracken joined National Journal, the Atlantic and Allstate as a speaker at their First Annual Summit on the State of the Middle Class. During the summit, Edward Reilly of FTI Consulting outlined the most recent Allstate-National Journal Heartland Monitor Poll, a quarterly assessment of how Americans are navigating the new economic landscape.
Providing the small-business perspective during the Summit, McCracken pulled from NSBA’s most recent Economic Report which underscores the findings of the Heartland Monitor Poll, stating that, “Despite modest gains in the number of small businesses projecting U.S. economic expansion, the overwhelming majority, 86 percent, still believe the U.S. economy will be flat or recessionary in the coming year.”
The event was moderated by John Fox Sullivan, Publisher of the Atlantic Media Company, with keynote addresses from Gene Sperling, Director of the National Economic Council and Ron Brownstein, Editorial Director of the Atlantic Media Company. McCracken spoke on a panel discussion outlining the state of the middle class in the U.S., moderated by Michael Hirsh, Chief Correspondent for the National Journal. McCracken was joined by Josh Bivens of the Economic Policy Institute, Paula Dwyer, Economics Editor for Bloomberg View and Mark Perry of the American Enterprise Institute.
Similar to NSBA members’ disappointment over policymakers inability to work together, the Heartland Monitor Poll found that, “Most Americans want compromise from both political parties to address our current challenges, however, they are not convinced about the reality of this happening in the near-term.” Poll respondents also reported “an erosion of trust and a loss of faith in major institutions and their leaders, causing them to rely more on their own abilities when navigating the economy and making decisions about their financial wellbeing.”
McCracken drew parallels between NSBA data and the Heartland Monitor Poll’s findings of diminishing trust in our leaders, “It’s no small wonder that half of all small businesses today project no growth whatsoever for their own business in the coming year,” he said.
Celebrating more than 75 years in operation, NSBA is a staunchly nonpartisan organization advocating on behalf of America’s entrepreneurs. NSBA’s 65,000 members represent every state and every industry in the U.S., and we are proud to be the nation’s first small-business advocacy organization. Please visit www.nsba.biz.