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Gold Coast Bank CEO Joseph Perri and Gia Pronto President Marco Lentini and conservative columnist Crystal Wright on the impact on government spending...
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Get that we can't whether you're on the right in the left we have a very brief honeymoon -- window whatever you wanna call in any new administration.
-- attack about something that might be controversial and certainly.
Let's say reigning in entitlements or maybe a slowing the growth of the of the the military an anathema to Republicans.
It would fits that description.
But if you don't do it in that that that immediate period you never do and so -- put off for another few years.
That's why I'm I'm reading in to these preparations for the inauguration and wondering.
Where is the talk of -- it might pop up to the president's speech it might pop up.
In remarks I get out of officials along the parade route but I'm I'm worried should -- -- -- Neil let's look at what we've gotten so far.
You know with this election we've -- obamacare which we know it's gonna bring higher cost to small businesses like myself -- But we're still not sure exactly what that figures going to be.
We've gotten tax increases now -- -- it went from that the 250000.
Limit the 400000.
But at the end of the day it's still -- tax increases on small businesses and -- brewers like myself.
Who I remind you many years may have -- with little or no pay have risk absolutely everything.
At times -- even mortgage there are house for our business.
And then when we finally do make it -- reach a certain income level the government steps in and takes more of our money.
Somehow that to me is not a pro growth policy doesn't encourage broke.
Are using -- fell on your Britain to do is point.
You are you -- it some pick up in in loan activity.
Because the aren't you here in the White House and other Democrats is that.
That might be that quiet win behind her back -- that might be to pick up that we're seeing in housing and manufacturing data and in in some of these job figures.
This picking up that might.
-- -- like yours know where we're we're actually what we're seeing is in the in the past six months.
There was that glimmer of hope.
The glimmer where the small businessmen and the banks -- together and they said -- she may be I will.
Look forward and maybe things will answer and now what did they -- -- and it's -- now they see they see all the issues in Washington going all they see.
-- -- got some sense of assurance that.
-- they -- know how much taxes went up.
Is that they think he would tax gonna warm when they get there they're there aren't certain they feared that they can't trust the ministry nicely -- -- Bristol that's your point right there's a sense that.
We're not over the worst of it.
Because I -- not -- great looking at the market's looking at all the money it's been going at the corner wall abroad.
It's expressing of late some confidence that -- isn't being reflected here and the White House folks say.
That's.
The economy stupid it's percolating again you say now -- Not -- now and I think Joseph alluded to this he touched upon it just now.
And many economists are talking about the fact that the worry is coming from corporations both big and small businesses.
Not hiring -- and that's because they can't trust this president to be.
An honest negotiators so we you know.
There -- the speaker.
The house and the minority leader Mitch McConnell gave the president what I call tax blood he said okay.
We're gonna we're gonna give it we're gonna let you raise.
Taxes on the rich rich only gonna reduce your trillion dollar deficit spending each year by about 5% folks so they gave them that and -- what is he come back -- We want more I want more tax hikes were targeted -- -- any thing.
To calm in the debt and the spending he's not -- and so I think back towards just Atlantic markets that this -- Small business owners and large corporations can't trust the president that's -- they're sitting -- all this cash and I.
-- do you sand doesn't bode well -- market quickly -- -- nothing to dissuade.
You or somebody your colleagues and don't get it off.
Well you soon.
Businesses are still growing -- but what they're not growing as much as they otherwise would and that uncertainty has a very real trickle down effect.
All use us for example were building a new G a prompt a restaurant right now.
I would've loved to have -- the total investment from people like -- from Gold Coast banking book there's no way I'm going to do that based on the uncertainty.
So what I do -- -- go ahead and I borrow less than I would otherwise need and I do things like by refurbished equipment instead of new which doesn't help our manufacturing sector.
You know I do things like -- that the project in house as opposed to hiring to general contractor which does nothing to employee.
People -- contraction so there are very real trickle down effects.
All of that uncertainty and it's it's not just looking yet our business is stronger or not it's also saying that that triple down effect of that uncertainty.
Is having a negative effect because even though some people like me are still growing we -- not may be growing at the pace we otherwise would have and we are being much more conservative in how we grow.
We'll see -- that's reflected this weekend and and certainly next week --
