Word: dunkelberger
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...William Dunkelberg, chief economist with the NFIB, says it's all about consumer spending, not credit. "The biggest problem is there's no sales - that's the real killer here," he says. Only 4% of those surveyed [by the NFIB] named credit as the problem. "Capital-spending plans are at 35-year lows and inventory-investment plans are at 35-year lows. They're just not borrowing - they're not asking for it," he says...
...Dunkelberg believes the U.S. government needs to focus on ways to increase consumer spending and, therefore, demand for products. He'd like to see the government suspend the FICA (or social security) withholding tax and extend the Bush tax cuts that are slated to sunset within the next two years...
...challenges, small business is still bullish. As just one example, the National Federation of Independent Businesses' small-business optimism index, a measure of perceived growth prospects, rose to 102.4 in September, a jump of nearly three points from a year ago. Says NFIB chief economist Bill Dunkelberg: "Small businesses love challenge and change. There's no better time to be a small business...
Private forecasters too "have been burned with this stop-and-go recovery and are understandably reluctant to stick their necks out," ways William Dunkelberg, president of the National Association of Business Economists. "They would much rather see the economy exceed their projections than shoot too high...
Another point of contention is that many minimum-wage earners come from middle-class homes and are working for pocket change. According to the Bureau of Labor Statistics, there are 4.7 million minimum wagers. Heads of households represent less than 25% of the total, and teenagers 37%. Says William Dunkelberg, dean of the School of Business Administration at Temple University in Philadelphia: "There are better ways to help the poor than with the shotgun approach of a minimum wage...