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Tuesday, August 2, 2011

What spending cuts could mean on Elm Street

The debt ceiling compromise that passed the house yesterday (and which should pass the senate and be signed into law today) could have a significant impact on the recovery, according to this story from USA Today (click to link)

Implications:   The original idea behind Elm Street Economics was to suggest that small business owners, managers and marketers should pay less attention to Wall Street and Washington, and focus more on their relationship with consumers; those folks who ostensibly live on the Elm Street cul-de-sac within a few miles from their place of business.

Experts fear (according to the USA Today story) that a fragile economic recovery (just 1.3% economic growth last quarter) could be hampered in the coming months by spending cuts included in the debt ceiling compromise.

Stay tuned.  It sounds like focusing on consumers will be just as critical in the next few years as it has been for the past four.

Mike Anderson, for the Elm Street Economics consumer trends blog. A service of The Center for Sales Strategy, Inc.

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