Read the rest of the article at the linked page.As more businesses report falling sales, fewer are planning to hire in the next six months amid growing concern about sluggish economic growth and a looming fiscal fracas.
Just 23 percent of companies plan to hire in the next six months, down from 39 percent in April, according to the National Association for Business Economics, a group that includes economists at companies, trade associations and academia. The quarterly survey, released Monday, polled member companies last month.
About 39 percent of the respondents reported rising sales, down from 60 percent in April. In addition, just 29 percent of respondents said their profit margins were rising, down from 40 percent in April.
Optimism is falling along with sales.
Americans' economic outlook weakens more than ratings of current conditions
"You can't blame corporations for wanting a security blanket during the past few years, what with the world economy always seeming one more pointless Congressional showdown or odd European election away from catastrophe. But as *******' David Cay Johnston points out this week, American companies may be hoarding more cash than most of us had previously realized -- about $5 trillion worth, as of 2009. "
Thats a lot of money Obama could be using to say he fixed the debt