National Debt Hurts Job Creation

National Debt Hurts Job Creation

A new survey of business professionals by Sageworks Inc. shows that employment levels are being hampered by the national debt, reports Forbes Magazine.  Of the respondents, three-quarters believed that the debt made it less likely that their businesses will increase hiring.

“Businesses understand that the national debt is bound to result eventually in an increase in the cost of their own borrowing,” said Sageworks CEO Brian Hamilton.  “Why would they want to take on additional employees, equipment and infrastructure on our current debt load?”

The survey should dispel any beliefs that the national debt exists in a vacuum.  It has a major effect on other issues, like the jobless rate in this country.  Instead of trying to create jobs through “stimulus” actions, our politicians should first confront the task of eliminating our debt.

For more on the survey, read Forbes Magazine online.

No comments yet.

Leave a Reply