Four major business groups see gloomy times ahead for the job market and the economy, according to a string of separate surveys and polls released this week that cast fresh doubt on hopes that the economic recovery may have turned the corner.

Top executives and small-business owners polled by the Business Roundtable, the National Association of Manufacturers, the National Federation of Independent Business, and chief financial officers surveyed by the management firm Deloitte pointed to uncertainty posed by new regulations, shaky demand overseas and the “fiscal cliff” facing the federal government as prime reasons keeping companies from investing and hiring at a faster pace.

The Business Roundtable, an association of CEOs from some of the nation’s top companies, on Wednesday dropped its growth expectations for the third quarter to the lowest level since the middle of the Great Recession. The trade group lowered projections for sales, capital spending and hiring in its latest CEO Economic Outlook Survey to their lowest levels since 2009.

The report was released on the same day as the chief financial officer survey from Deloitte, which found that CFOs also are increasingly pessimistic about the futures of their companies.

Those reports follow by a day a joint survey from the National Association of Manufacturers (NAM) and National Federation of Independent Business (NFIB), which found a majority of companies believe the economy is worse now than it was three years ago, shortly after President Obama took office.

The Romney camp seized on the cluster of surveys to blame Mr. Obama for rising business pessimism.

“For nearly four years, job creators have struggled in the Obama economy,” said Ryan Williams, a Romney campaign spokesman. “Business leaders have the gloomiest outlook in three years, and the president’s failed economic policies of higher taxes and more regulations will only make things worse. Mitt Romney understands what it takes to start and grow a business -- and, as president, will implement pro-growth policies to create 12 million new jobs and get small-business owners back on their feet.”

The White House did not respond directly to a request for comment, but earlier in the day, Obama campaign spokeswoman Jen Psaki talked to reporters who were traveling with the president in Ohio. She defended Mr. Obama’s economic record and said he has the most credible plan to lower deficits, which will help the economy.

READ FULL SOURCE ARTICLE

Editor's Note: If Mr. Obama has a plan why hasn't he implemented it already?...Bottom line, there is no plan...it's all just words...just speeches...Ladies and Gentlemen, we are suffering -- both figuratively and literally -- at the hand of a failed President.


The BasicsProject.org informational and educational pamphlet series is now available for Kindle and iPad. Click here to find out more...

The New Media Journal and BasicsProject.org are not funded by outside sources. We exist exclusively on tax deductible donations from our readers and contributors. Please make a tax deductible donation today.