Nonsense, says the left. The real reason is that there is a conspiracy against President Obama to keep the economy bad in order to make sure he is defeated in the election.

Gallup reports that nearly half of small business owners disagree:

U.S. small-business owners who aren't hiring -- 85% of those surveyed -- are most likely to say the reasons they are not doing so include not needing additional employees; worries about weak business conditions, including revenues; cash flow; and the overall U.S. economy. Additionally, nearly half of small-business owners point to potential healthcare costs (48%) and government regulations (46%) as reasons. One in four are not hiring because they worry they may not be in business in 12 months.

Companies typically hold back on hiring when the economy is weak and when their operating environment is not providing sufficient revenues or cash flows. This appears to be the case right now, as the economy has been weak for more than four years. Less typical is for many owners to point to such things as potential healthcare costs and government regulations.

Wells Fargo and Gallup survey 600 small-business owners quarterly to assess conditions within their companies as well as their outlook. Small-business owners' hiring intentions are currently the best they have been since January 2008, though the percentage who plan to hire new employees still represents a minority of small-business owners.

Many small businesses have less than 10 employees so there are a lot of regulations that don't apply to them, and Obamacare requirements don't affect alll of them. The 48% who cite Obamacare represent a substantial majority of small businesses that fall under the jurisdiction of Obamacare and most government regulations.

Given that small businesses usually lead the recovery in hiring, it doesn't appear that things will get any better until Obamacare is repealed and excessive, unnecessary regulation is withdrawn.