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-- the president's first term.
So what's the likelihood that -- changing for the better Brian Hamilton is the CEO of state works this is a firm that provides research specifically -- private companies -- -- I'm back on the show.
At first relent and that's your initial survey results here do you think this you'll be better than last in terms of business practices hiring.
All the things that matter.
You know really it's very hard to say because for the past four years these companies are growing.
The margins are good profits are good but they're not hiring and really the last time this occurred was in the 1930 so it's really amazing it's very hard to say.
But didn't we get didn't small business private business get some level of clarity thanks to the fiscal -- deal.
Well sort of -- you really have to look at at that in context.
We are sitting at a sixteen trillion dollar debt and business people know -- -- they're very sophisticated they know.
What that's all about the country is not able to he handle its debt.
So that's a big cloud that sitting over the country and I think all these private companies 27 million of them know about that.
So if you move past this next -- whenever will be over raising the debt ceiling in.
We just heard from the president obviously this morning saying that this is -- important issue but we're not -- sacrifice things like entitlement.
But that said -- back half of 2013.
For the economy what's the likelihood it stronger than the first half -- sweet ideally get past these issues these fiscal issues.
What's a great question -- that's a huge if because we haven't gone by that.
Our debt keeps grown and grown and grown not if that happens and there's no peak.
Political bombs out there that were not aware of -- big discussions that last two years with no resolution.
Then people should start to hire people they've done that for the past 150 years were really into and in theory -- certain time.
In the guys in Washington are not making it better by not getting along and making policies early enough so these businesses can really decide what they're gonna do.
We just heard from our colleague Charles paying in the public sector cash on the sidelines.
Tons of revenue being generated overseas is the private sector able to enjoy that at all.
So much free cash to spend what's the likelihood now again as we move past -- past the election hopefully pass these cliffs.
In the second half once again at that money is put to work.
Well you know if you're looking -- private companies you really have to look at cash in cash out you have to look at margins profit performance all those are very positive -- In those have been going up for four years but remember these businesses.
Are fundamentally different from publicly traded firms they don't have tons of cash on their balance -- they're not sitting on the sidelines at all.
Their margins are usually very thin.
But that's -- you're right things are strong and over the past hundred years 150 years when those things are strong.
For such a long period of time they go on hire people they buy stuff they buy fixed assets they want to -- more money in do better in fact that they haven't.
Is a real big concern in one of our polls we've shown that 75%.
Of the people who run these companies.
Are less likely to expand just because of the national debt yeah so really until we get a real handle on that they're gonna be nervous and I don't blame them.
They've been nervous for a one time -- -- at some point at a distant.
Do it higher spend capex and get business don't -- comfortable talking again very -- thank you so much.