National Federation of Independent Business (NFIB) Chief Economist Bill Dunkelberg warns small business owners the midterm election results won’t help their bottom line because Pres. Obama will just turn to government agencies that “have become legislative bodies” and unaccountable “fiefdoms.”
In a video presentation to members, Dunkelberg says Republican control of both the House and Senate “won’t make much difference” to their financial statements:
“In reality, at least for the short-term, it probably won’t make much difference.
“If the president remains true to form based on the last six years and his rhetoric, not many of these bills will be signed into law. That suggests two more years of the same stalemate with little agreement on between the president and Congress – with the president attempting to implement as much of his agenda as possible through the regulatory side.”
He warns business owners that government agencies have become huge, powerful "fiefdoms" that can impose Obama’s agenda free from Congressional oversight:
“Government agencies – some as large as countries, based on their budgets – have become legislative bodies – fiefdoms that operate outside of the control of Congress…mostly, because Congress refuses to reign them in.”