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Fiscal cliff fears' impact on businesses

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  • Description

    Business owners forced to brace for economic disaster as they closely watch negotiations

  • Duration 3:17
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We're crashing up against our nation's debt ceiling and about to fall off if fiscal clip.

Right now millions of small business owners are on the edge of their -- anxious worried trying to figure out how the fiscal cliff will impact their businesses.

They're Jenkins hit the ground in New Jersey to speak with the vice president and general manager -- family -- company Princeton tech.

Making products for the military for over ten years now on the military's being US manufacturer they kind of came no -- saw our products that various retailers are head lamps.

And said that's a great head lamp.

Make a few changes an -- better -- for the military sequestration.

The military cuts would seem to be.

Forthcoming.

Could soon force troops to have to buy their own -- -- yes.

We're seeing -- -- -- You're already see and we're seeing where budget cuts are.

Coming into play and were getting calls from.

Troops and things that you know where can I buy your product I need to -- -- 144 of them you know we're sending home to places where they can purchase it because they just don't have the budget to.

They still need the product of the government's not giving them the budget -- -- -- make.

The military lives you make the outdoors words hiking that's -- -- makes -- -- lions make industrial.

Lights what percentage is military military's about 20% of our shot 20% then is it fair to say Dallas one of going to be hardest hit yes yeah where where the uncertainty in -- -- is is what we're we're not sure which direction ago.

What do you -- could be.

Your greatest challenge here.

Greatest challenges to continue to forecast that you know the products we need -- -- to deliver on time -- -- retailers.

Now with this uncertainty it's going to be hard.

You -- to really.

Forecast out do you feel kind of personally did maybe the -- -- Washington.

Need to really you.

Dig -- and better understand.

-- business and just like you all across this country are actually facing when you look at.

The cuts.

Health care.

Military sequestration conviction -- in your case yes I think they really need to look at the American manufacturer which is few and far between anymore.

You know it really affects us half and anybody trying to make goods in America and we're trying to bring the economy back and -- they're making it more difficult.

The reality of this fiscal -- Could you possibly have to cut jobs.

-- yes we're worried about that mean business is great right now.

But if production has to slow down and you'll understand coming in from people not spending the extra money for our present our products -- Do you have any idea any indication of what it will boom determine that what percentage you could be looking in.

At this time no will just have to watch it closely come January.

You know and really see where we are you know we're -- holiday season now which is very busy time for us.

But it's after that you know we'll have to watch it closely into -- real you know we don't want to.

-- use any of 416 please can we value greatly.

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