Kerry-Edwards Will Lead an Economic Revival
Croatian American Businesses
Shawn M. Oâ€™Donnell
As a true conservative businessman, whose wife is a Croatian American businesswoman, Iâ€™ve made it a point to discuss the upcoming presidential election with other small and mid-sized business owners and leaders, some of whom are Croatian Americans.
Overall, their current support for the probable Bush-Cheney Republican ticket flows from a mistaken belief that they actually benefit from this administrationâ€™s tax cuts.
Individually and collectively, they fail to see that the increases in their real cost of doing business, which includes spiraling cost in energy, health care, and unemployment insurance have been caused by the Bush-Cheney administrationâ€™s policies.
This administration continues to pursue economic policies that will result in increased interest rates, millions of jobs lost, and stagnant or lower wages for American labor.
Consider some clear indicators that prove that this administration and its ruinous economic policies have failed small and mid-sized businesses (which provide this country with most of its jobs):
--The Dow Jones Industrial Average on January 20, 2001, was 10,578, and the NASDAQ was at 2,578. Today the Dow Jones
hovers at 9,900 and the NASDAQ around 1,900.
--The final 2003 deficit number for the U.S. government under Bush-Cheney was $374.25 billion (an all-time record).
--A projected budget surplus for 2003 (from 1999 figures) resulted in a $700 billion deficit as result of Bush-Cheney policies.
--Accounting for the current Social Security surplus, the Bush-Cheney deficit is running almost 5 percent of the GDP.
--Gasoline prices in the United States are at record levels, and price of oil is through the roof. An $18 per barrel to $20 per barrel (approx $1.75 per gallon) is now over $50 per barrel (eventually resulting in over $3.00 per gallon pricing).
--The U.S. trade deficit has widened to an all time high of $46 billion.
--Weâ€™ve hit the US legislative debt ceiling of $7.4 TRILLION and the Bush administration refuses to take any legislative action to allow more borrowing until after the election.
--More than 1.6 million net jobs have been lost.
--Unemployment in January, 2001 was 4.2 percent; now itâ€™s 5.6 percent.
Every Croatian American business person should join us in voting to change administrations on November 2nd. We have an opportunity to elect the team of John Kerry and John Edwards to lead an economic revival for small and mid-sized businesses.
Note on Shawn Oâ€™Donnell:
Shawn Oâ€™Donnell is a businessman and a real conservative Democrat. He was the CFO of a Virginia software company until 60 days ago when he left his position and his wife, Drucilla Badurina, took a hiatus from her business so that they could devote themselves to getting John Kerry and John Edwards elected.
Shawnâ€™s business and management background and experience (including CEO and CFO positions) span more than three decades and include manufacturing companies, business development and consulting. His articles about business and economics have
appeared in various publications nationally and internationally.
During the early 1990â€™s, Shawn served on the Archdiocese of Chicagoâ€™s Pastoral Council as Chair of the Stewardship Committee and advisor to the late Cardinal Joseph Bernardin.
Shawn is a real activist who has managed and worked Democratic campaigns in Illinois.
He is now busy with Volunteers for Kerry-Edwards Media Corps and talking with business people, especially small and mid-sized business owners, about the countless reasons why Bush is bad for business, the economy and labor.