Life in Obama’s America… 23% of Small Business Owners Went a Year Without Pay

2012 is not your ordinary election.

(Theodore’s World)

It’s an Obama world… 23% of small business owners went a year without pay last year. reported, via FOX Nation:

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.”

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  • southernsue

    if he gets another four years, there won’t be any small businesses.

  • Peregrine Took, Hobbit S.O.B.

    So this is what The Choom Lord meant by “spreading the wealth around.” This and stiffing a small businessman for a BBQ lunch.

  • LROD

    Yep, And my boss was one of them.

  • Sasja
  • Sasja

    I meant rough patch.

  • Greg

    Drudge has 3-4 articles regards the Financial crisis in Greece. The article about the failure of the health care system needs to be read. It details the end game for socialized medicine

  • 1RedBeard

    Very troubling statistics. But even small businesses like mine, that have not missed a payroll, are struggling to survive in the Obameconomy. Yes, that’s right, Barry; you own this, after being in office almost four years, and having Congress in leftie hands since 2006.

    Our gross sales have been stagnant, our investment in new products and machinery non-existent, and our employee numbers identical to what they were three years ago. No one wants to take a chance on being overextended, not with the socialist cabal in D.C. trying its best to hamper economic growth and punish success.

    I predict a dramatic change in attitude and confidence just as soon as Barry “Il Duce” Obama gets deposed in November, resulting in good things for small business, and the true beginning of a recovery.

  • WW

    Yep, I was one one of them. And #1 is more right than they know!

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  • rabble-rouser

    My husband wants to start his own business and this yahoo of a president scares me. We don’t have much, and we don’t want to risk what little we have. Does that make me selfish and unsupportive of his ambitions? What to do?

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  • Beachbum

    Add one more to the percentage. I’m a small business owner and can not afford to pay myself a salary. The only income I take is from those “nasty capital gains” that Obama wants even more of than he is now getting. And, I only take what is necessary since I have to keep some kind of rainy day fund for the business since the Dodd-Frank bill dried up any and all loans from our regional banks (way too much paperwork for the banks to deal with when loaning money to small business).

    To rabble-rouser – wait until we get Obama out of office !!! I started my business in May 2007 and was doing fine until the crash in October of that year and I have been fighting to keep my doors open since. Everytime you turn around the government is dropping a new regulation or something on your head. This is not a good time to start a business.

  • Earl P. Holt III

    In all honesty, I would wait until Romney is elected to start a new business. The economic environment is way too “iffy” with a Bolshevik President and Senate to risk investment capital right now.

    Waiting six months might make all the difference in the world, especially if you are in an industry like restaurants, where a significant majority fail the first year or so.

    Good luck to all entrepreneurs…!

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  • ChillytheAlaskan

    Obama and his administration have attacked small business while voicing how they were trying to help them. Look at how the dept. of Labor was attempting to impose all these work rules that prevent the children from working on family farms.

    Small business are the very foundation of free trade and a free people, particularly small family businesses. To destroy capitalism and impose marxism/fascism and the new order, first these small businesses MUST be destroyed and the owners forced to go work for the large “collective” businesses. The communist in our government don’t care that these small businesses provide a more affordable product, they need to make the citizens line up and goose step to their agenda.

  • Patty

    OT but what a predicament for America. While Obama hobnobs with Hispanic and Ultra elitists.

    Foreign holdings of US debt hit record high

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