Kelly Loeffler: Government Shutdown's Devastating Impact on Small Businesses

Impact of Government Shutdown on Small Businesses

• ⚠️ The government shutdown, driven by Senate Democrats, has put the momentum of America's economic comeback at risk.
• 🎯 Small business optimism was at a 7-year high before the shutdown, with wage growth outpacing inflation and strong GDP growth.
• 📉 The shutdown has halted SBA loan guarantee programs, choking off capital for Main Street businesses.

Financial Losses and Stalled Growth

• 💰 Every day of the shutdown prevents 320 local businesses from accessing $170 million in SBA loans for hiring and expansion.
• 📈 Over 27 days, this amounts to 6,000 small business loans prevented, totaling upwards of $4 billion in lost lending.
• 🚫 Businesses relying on federal contracts have received stop-work orders, and those dependent on federal workers as customers are seeing revenue dry up.

Economic Consequences and Political Demands

• 📊 The CEA estimates that every week of the shutdown shrinks the US economy by $15 billion and costs approximately 43,000 jobs.
• 💸 Senate Democrats are demanding $1.5 trillion for healthcare for illegal aliens and other liberal causes, which Loeffler argues is subsidizing a broken healthcare system.
• 🎯 Loeffler states that the pain caused by the shutdown is the point for Democrats, aiming to derail President Trump's economic agenda.

Small Businesses as Economic Backbone

• 🔑 America's 36 million small businesses represent 99% of all businesses, create two out of every three new jobs, and contribute about half of the GDP.
• 🗣️ Loeffler emphasizes the need to end the political stunt and pass a clean funding bill to support Main Street, the military, and critical federal services.