If we don't get a rebound in small businesses, we'll keep getting ugly jobs numbers like we did last week.

And for now, there's no sign of a rebound at all.

The National Federation of Independent Businesses has come out with its latest survey of members, and across the board it's clear: small businesses are not getting access to credit, they're not living up to their rebound expectations, they're not hiring, and they're not upping CAPEX.