“Barack Obama has said the private sector is doing fine.
Tell that to small business owners; a new survey by Citigroup shows that 23% of small business owners have gone more than a year without pay. The study also says that 54% of them have gone without at least one paycheck; 38% of them said their employees had worked overtime without being compensated; and 18% of them had been unable to make a paycheck for their employees at least once.
During recent years, 78% of the owners have taken less profit, 70% have been working more hours, and 69% have used their own funds in order to keep their businesses afloat.”
In other words, as Jay Carney said this week, “The economy has not recovered.”