Press ReleaseMay 16, 2023

Job Creators Network Calls on Biden Administration and Congressional Leadership to Find Debt Ceiling and Spending Compromise

Alfredo Ortiz, president and CEO of Job Creators Network, released the following statement about today’s debt ceiling meeting between President Biden and Congressional Leadership:

“After months of intransigence, President Biden finally seems to recognize that raising the debt ceiling requires compromise — just like everything in life. Biden and congressional leaders should agree that any debt ceiling deal involves ending reckless government spending, as proposed by the Limit, Save, Grow Act, which recently passed the House of Representatives. Returning spending to pre-pandemic levels — in recognition that the pandemic is over — and limiting future increases can reduce the persistently high inflation hurting small businesses and ordinary Americans.

“Bringing inflation back to normal can also boost access to credit, which has dried up as the Federal Reserve has aggressively raised rates to fight Bidenflation. According to JCNF’s recent SBIQ poll, 59% of small businesses are concerned the current banking instability caused by the Fed rate hikes will negatively impact their business. Reining in government spending can overcome the one-two punch of inflation and a lack of credit hitting small businesses and their hiring plans. Given that two-thirds of new jobs are created by small businesses, defeating these twin threats is vital to preventing a recession and jumpstarting the economy.”