Readout of the President's Meeting with Small Business Leaders

Today, the President met with nine small business owners from across the country about the impacts of the ongoing federal government shutdown on their businesses and updated them on where things stand on efforts in Congress to avoid a first-ever default in the nation's credit. The President was joined in the meeting by Senior Advisor Valerie Jarrett, NEC Director Gene Sperling and Acting SBA Administrator Jeanne Hulit. The President heard from these entrepreneurs about the immediate effects the shutdown has had on consumer confidence, and their concerns about what a prolonged shutdown would do to harm the holiday shopping season. They shared stories with the President about contracts cancelled or put on hold, furloughed workers and the potential for shift and staff reductions should the shutdown continue. The President thanked the business leaders for the work that they do creating jobs and investing in their communities, and briefly updated them on the conversations he's had with all four Congressional caucuses over the past three days.