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The Small Business Optimism Index that is surveyed by the National Federation of Independent Business fell to 90.9 in May, marking its third consecutive monthly decline this year.The federation noted that weak consumer spending is a major problem.
Bill Dunkelberg, NFIB’s chief economist, thinks the problem is that Washington doesn’t understand Main Street. He cites threats of higher taxes, new regulations from state governments, and the uncertainty of the new federal health care law. “Is it any wonder that optimism is down?” declares Dunkelberg.