Recapping my 2013 Crystal Ball Predictions
Let’s review my 2013 predictions, what happened and my score
Prediction:The political class will claim “fiscal cliff” avoidance, but it’s more postponement than policy. Reality: The government was shut down again in October. Plus 1.
Prediction:The 2013 economy will be held back by two government-created headwinds: tax increases and Obamacare. Reality: Dozens of tax increases took billions out of consumers’ pockets and Obamacare is a recurring budgeting nightmare. Plus 1.
Prediction:Small business uncertainty about investing in growth will continue for the fifth consecutive year. Reality: The monthly NFIB Small Business Optimism Index shows continued business reluctance to hire, invest capital or borrow money for growth. Plus 1.
Prediction: The NFIB Index will continue to be at or below the unprecedented 40-year historical low of 93 points in 2013, as it was in Obama’s first term. Reality: Through November, the average Index score was 92.3. Sadly, plus 1.
Prediction: The unemployment rate will remain above 7%. Reality: While U-3 has recently fallen to almost 7%, the real unemployment condition (U6), remains in the teens. Plus 1.
Prediction: GDP in 2013 will remain moribund, below 3%. Reality: GDP through October averaged 2.3%. Plus 1.
Prediction: For the first time in history, the national debt will exceed GDP. Reality: 2013 GDP is $16.8 trillion, national debt is $17.2 trillion. Plus 1.
Prediction: The U.S. credit rating will be reduced for the second time in history during the Obama presidency. Reality: While there were warnings, the rating did not drop. Minus 1.
Prediction: State insurance exchanges, Obamacare platforms, will not be ready for the 2014 launch. Reality: The epic fail of the Obamacare launch is now the stuff of legend, including no access to exchanges for small businesses. Plus 1.
Prediction: The 2014 Obamacare “guaranteed issue” mandate will artificially cause increases in 2013 health insurance premiums. Reality: All policies increased in the past year in anticipation of mandates, like pediatric dental, even if you don’t have kids. Plus 1.
Prediction: While feckless and fecklesser – the U.S. and the U.N – watch, Iran will take the world across a nuclear Rubicon. Reality: The recent Geneva Accords not only didn’t stop Iran’s nuclear ambitions, but actually removed successful economic sanctions. Plus 1.
Prediction: Alabama defeats Notre Dame in the BCS Championship game in Miami. Reality: Bama 42, Irish 14. Plus 1.
Write this on a rock …That’s 11 of 12 this year, bringing my 13 year average to 72%. How’d you do?
For a short video from Jim on this topic, click here.
Jim Blasingame is creator and host of the Small Business Advocate Show. Copyright 2013, author retains ownership. All Rights Reserved.
