You're watching...
Entrepreneur Carl Paladino on why small businesses’ lack of faith in the government is hurting the economy.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Obama making clear today that Washington's drag down debt fight has left American business anything but unscathed.
Pretty likely that the uncertainty surrounding the raising of the -- -- For both businesses.
And consumers.
Has been unsettling and just one more impediment.
To the full recovery that we need.
Yeah just like even we have this cloud of uncertainty lifted we had one of our worst selloffs and quite a while.
Entrepreneurs and small business entrepreneurs small business owner Carl Paladino says what the market really.
Needs right now is not necessarily debt deal but a better business client He joins me now for more in the has -- exchange could -- -- -- this so clearly the market wasn't as worried about a debt deal because we have the debt deal as it was about the economic -- we started the day with very bad news about how much money the consumer -- -- essentially less money this month.
Than they had last month that's what weight in the market about the debt deal.
Two days.
Coming down close -- issue dwarfing to -- is dysfunctional.
Washington doesn't have a clue what the American people want right now.
They want to cut expenses they want -- economy that flourishes and Washington can't find its way to that so why we have the economic slowdown what is driving the economy down right now.
Small businesses refuse today they -- they're just.
They're they have no faith.
In Washington to do the right thing to keep taxes down.
Two to allow them to expand their businesses.
To it to decrease regulation to power their -- how are they not allowed to expand their business right now explain from a small business -- perspective they're frightened to death.
They're scared they just don't they don't know what the future holds.
I take it take for example the the if if we look at all this money this subsidy money that's being spent on Green -- Green requirements.
Look at the regulation that that's brought on to the economy right now.
You that the American people look at it may -- why are we spending all that money there why -- we think it's not something I choose to get involved with.
I want you to lower my taxes so I can compete in the marketplace today so I can.
I can start up a small firm I can hire some people to go to work for me regulation.
Tax burdens that's primarily the -- -- and they just refuse to get it.
The tax burdens are the result of reckless spending.
Here you got Joseph Biden calling the American people terrorists.
Who terrorized -- The president United States terrorize the elderly by telling -- they're not gonna get a check what's the matter with these.
All right well that that the point is we as you know we don't need to bring up there -- terrorism in all in this conversation what we need to bring up is the role of the government and no sooner was the -- -- on that Paper this new debt deal in the presence start talking about even more got.
One and a half day of deficit in four billion dollars a day.
He cut one and a half days the American people are supposed to be thrilled about this but there is push back tremendous push back by the American people we sought in the last election we saw with the influence -- Tea Party had.
On these debt negotiations.
Doesn't -- give small business owners some sense of confidence that.
Perhaps this Porsche is being pushed back on.
I don't think there's confidence out there the American -- -- -- quandary there's no faith in this government right now.
I think that -- No matter who there of what what political party or whatever so we're not -- see any more hiring -- for the rest of the year in the part of small biz I think I think companies are looking at there's still looking at how they can wind down.
There's still looking at how they can how they can survive.
Right now.
It -- of public is not buying their hoarding money when the banks won't give any money out there.
The banks are making it very very difficult because they basically have there's.
-- they have -- new set of rules which say we're we're very very conservative and how we're gonna alone by the way got to have a no brainer to help folks build balls and and the stores ago when the malls are they hiring anybody else is flat out.
Retail is flat out offices flat out right now the little we have in residential rentals not.
Equity they're not buying condos are not -- and houses they're not there they're not written offices.
Office -- -- our.
Our.
Decreasing in size and and retail doesn't exist retail expansion doesn't Carl Paladino great to see -- Carl thanks.
