SmallBusinessNewz

It's that time again to look at the Discovery Small Business Watch data. It always provides interesting insight into the small business climate in the U.S.

Unfortunately, small business economic confidence is at an all-time low. In fact, confidence indicators were down in every single category of the survey.

 "With prices rising, especially gas and food, just about everybody is feeling the squeeze," says, Discover business credit card director Ryan Scully.

"People are starting to change their habits and cut back. For small business owners who are seeing profits go down as a result, that means they have less to invest in finding new business," Scully added.

One startling statistic is that 48% of the 4,000 consumers surveyed, believe that the American Dream is dead. Nearly half. Quite a grim outlook, although the majority feel that owning a small business is one of the best bets.

Some stats from the survey for you to chew on and digest include the following:

- Nearly eight out of 10 small business owners, 79 percent, think the U.S. economy is getting worse - an increase from 71 percent in May and the highest level recorded since the inception of the Watch in August 2006.

- 53 percent of owners say that economic conditions for their business are getting worse, compared to 47 percent in May.

- 58 percent rated the economy as poor, an increase from 50 percent in May.

- 42 percent say they have experienced cash flow issues over the last 90 days, an increase from 39 percent in May.

- 75 percent of owners will be decreasing or making no changes in what they spend over the next six months on business development activities such as advertising, inventories, and capital expenditures. Forty-five percent plan to decrease spending, 30 percent are making no changes, and 23 percent plan to increase spending.

- 8 percent of owners have plans to hire in the next few months, while 79 percent are making no changes and 10 percent plan to lay off workers.

This is all based on the responses from 4,000 people. What are your thoughts? Do you think the American Dream is dead? I don't think so. Perhaps slightly wounded.