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Drew Greenblatt, CEO of Marlin Steel, on how falling off the fiscal cliff stands to impact small businesses in the U.S.
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A hitting business planning for 2013 and beyond drew Greenblatt is CEO I'll Baltimore -- -- -- -- it was part of a small group of business leaders invited to the White House last month.
On the fiscal -- based on your mating drew does the president understand it did damage is being done.
To business and the country already just because of bill -- action.
I think the president and the congress.
Our right now not serving the people in the best fashion we need the fiscal cliff resolved right away.
This uncertainty is causing great harm to our country.
And we need very aggressive.
Plans.
To -- formulate our budget so that we don't have to have this uncertainty hanging over us so frequently.
You know right now American factories have a 20% price differential.
With competitors all throughout the world.
So we need our system.
To be more competitive so we can grow.
If we raise taxes on the job creators on the factory owners will what happen is we'll be less competitive that 20% will grow.
So we'll have less factories built here in America.
It's very important that Washington starts working out deals right away so with the fiscal cliff can be history and we can focus on.
Building factories hiring people growing well they're not.
Listen -- to -- -- right to break it -- in that around we should point out that your company makes wire baskets and a sheet metal fabrication.
Based on what you see how much of your own customers.
Pull back have you seen layoffs -- be seen spending cuts even ahead of the lack of a deal.
We are seen many clients pause we're seeing many clients particularly in the military to stop watering.
So -- military sales of plummeted because everybody's concerned about sequestration.
And what's that's doing is it's causing a negative ripple effect throughout the economy.
You know the prior guest senator Dorgan mentioned some unit in the future there could be problems the problems are already happening.
People are -- people are making budgets now for next year and what they're doing is they're deflating how many.
People they're gonna hire next year that's not positive that's not gonna end are there that's not to end the recession.
We need a bold plan.
That will quickly end the recession.
And that means we have to be more competitive of that facility anywhere more competitive will grow if we're more if we're growing -- hire more people -- and the recession would didn't.
Drew that and -- making the assumption that we are headed back into a recession with some people have predicted that if this goes on any longer.
But is that what it's gonna take is it going to take a serious economic downturn is it going to tank.
A major spike in interest rates -- Washington to act and do something about the entire financial environment in the country.
I think Washington playing with fire I don't think they realize this is not a game.
People right now -- unsettled.
And they're not certain about the future and they're adjusting budgets because people plan right now job creators make their budgets for next year now.
And we're deciding how many people we're gonna hire -- a buddy of mine in Rhode Island that.
Runs a factory with 500 employees and he told his -- department heads.
Give -- plans for a 20% across the board cut.
If the fiscal cliff hits.
I mean this is the wrong posture we don't want people that create jobs people that.
-- decide how many people will be hired in the next year.
To be having it it to have bad karma now we want people looking forward in a positive way how we're gonna grow into new markets how -- good export more.
We need our country to be more competitive so we can export to China export to Mexico export to Canada.
That's what's critical growth if you have more growth -- hire more people.
Drew great steak with a thank you have a great weekend happy new year hope it is thank you go go largely through yeah.
Come on I would take -- the cowboys you know flat.
And we're gonna kick -- in the next UK.
Thank you so much true -- well more --
