Chamber of Commerce Head Decries Gloomy Forecasts, Says Things Are Better Than They Appear1/16/2024 ![]() Forget all the dire predictions about the economy in 2024, and dire talk of political turmoil. According to Suzanne Clark things are good and, most importantly, looking better. Delivering the annual State of American Business address, Clark, the president of the U.S. Chamber of Commerce, remarked quite simply: “The State of American Business is optimistic. And this country, its citizens and leaders, and our partners around the world, need to hear it.” Clark, who became the head of the 111-year-old business advocacy group in early 2021, remarked that the overall economy remains historically vibrant, while noting: “The optimism of entrepreneurship in this country remains strong, evidenced by the record-breaking 5.5 million new business starts last year.” Clark added that up to 134 million people are expected to “find opportunity and achievement, dignity and pride in a private sector job” in 2024. “Businesses, large and small, are what help bring our ideas to life and share them with others, not just in our own communities, but across the country and world,” said Clark. But the essential dynamic of business growth in the U.S., she continued, is one of constant change: “If you look at the top ten companies by market cap, you’ll see that not one of the companies on the list 30 years ago is still on that list today.” Continued Clark: “If you look at the list over time, you see companies move in, up, out, back in, and so on.” The Chamber head also took note of the country’s ever-growing rate of consumer power. Six decades also, she said, “barely a third of American households had air conditioning.” Today Americans can largely purchase the “things that meaningfully improve life: dishwashers, washing machines, cars, smartphones.” Clark also noted that while the economics of various democratic countries across the world have all grown in recent decades, “wages at every income level increased by 50%; American industry expanded its output by more than half; and unemployment fell to record lows.” In reflecting upon global growth trends, Clark said any move to “throw up trade barriers, impose tariffs, stop doing trade deals, and reactively repatriate supply chains” will only hurt the U.S. economy, robbing business and workers of new opportunities, while “raising prices for every American.” Clark concluded her remarks asserting that the proper role for government in today’s economy should be one of being a partner. “That means letting markets work and protecting them from intrusion,” she remarked, while also contending that government should also pass pro-growth public policies, and “smart regulations that clearly signal to business the rules of the road.” By Garry Boulard
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