Local Connection: Moving Forward - Hawaii News Now - KGMB and KHNL

Local Connection: Moving Forward

HONOLULU (HawaiiNewsNow) -

By: Rick Blangiardi

Now that the election is over, it's time to move forward, as President Obama likes to say.

But moving forward means different things to different people and in my opinion, we need to immediately address the financial crisis that confronts our country.

We've all heard a lot about the so-called "fiscal cliff" and many people are offering solutions but here are a couple of possibilities you may not be aware of:

If automatic spending cuts are enacted and the Bush-era tax cuts are allowed to expire, the Congressional Budget Office predicts a recession in 2013 with unemployment rising above 9 percent.

Some people strongly believe that without those cuts, the situation could be as bad or worse.

It's easy to pile on the wealthiest of Americans but it's also important to point out that more than half are small business owners. They have, in many cases, built companies that have sustained a lot of growth in this country.

The concept of small business is a complex issue when it comes to governmental tax codes. Most small businesses start small and stay that way.

Here in Hawaii of the roughly 35,000 businesses registered with our Department of Business and Economic Development, more than 31,000 businesses have fewer than 20 employees.

Small business is the backbone of our economy and it deserves and needs a helping hand from our federal government.

Copyright 2012 Hawaii News Now. All rights reserved.

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