Let’s talk about Washington political rhetoric. It continues to suggest that the slow recovery is because banks will not lend to creditworthy borrowers. According to the non-partisan National Federation of Independent Business, however, that is just not the case. The NFIB reports that the economy generated a lot of jobs by making bad loans and they are gone now. Community banks across the country have plenty of money to lend, but “the pipeline of good applicants collapsed in the recession.”
Remember the football lockout I mentioned? The NFIB says that on the job side “it is going to take a rebound in consumer spending, particularly in the service sector to make a significant dent in the number of unemployed. The manufacturing sector is doing very well, but it does not create many jobs.” Factory tours and the Chamber are good for television, not so much for business facts. Facts are boring. Besides, you don't get free samples or a hat.