Manufacturers Offer a Critical Voice in Fiscal Abyss Discussions

Impact of Fiscal Abyss Is Already Here—Businesses Fear Economic Catastrophe

National Association of Manufacturers (NAM) President and CEO Jay Timmons issued this statement after business leaders met with President Obama to discuss the fiscal cliff today at the White House:

“Manufacturers and their employees across the nation are already struggling due to the uncertainty of the fiscal abyss. By the end of 2012, the U.S. economy will have taken a 0.6 percent hit to GDP as a result of our fiscal crisis. Manufacturing will remain a central player in our economic future and in solving the fiscal abyss.
Manufacturers believe that a responsible solution is one that does not harm the economy with massive tax increases on job creators, but focuses on repairing the structural imbalances in entitlement programs. The importance of coming together for a solution can’t be overstated. Manufacturers who employ 12 million men and women in America are looking to the President and Congress for a resolution that promotes growth and protects jobs.”
 The NAM has released a study that explains the impact the fiscal abyss is already having on the economy and just how bad it could get if the President and Congress are unable to arrive at a solution. Click here to learn more.

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