Posted on 03/16/2009 12:58:30 PM PDT by EagleUSA
WASHINGTON – President Barack Obama on Monday offered a fresh package of aid to small businesses — "the heart of the American economy" — in an aggressive push to get big banks that got federal bailout money to do more lending to these struggling entrepreneurs.
"You deserve a chance. America needs you to have that chance," Obama told small business owners gathered in the White House East Room as the administration detailed various steps to get credit flowing to small businesses.
With Treasury Secretary Timothy Geithner by his side, Obama said the nation has small businesses to thank for many of the new jobs, roughly 70 percent in the last decade. Geithner said as small businesses prosper, the nation does, a critical element to any economic recovery.
The White House announced a series of moves to get credit flowing to small businesses. The measures include boosting bank liquidity with up to $15 billion aimed at unfreezing the secondary credit market, reducing lending fees and increasing loan guarantees, and easing the tax burden. The administration also announced that the 21 largest banks receiving government money must report monthly on how much lending they do to small businesses.
The goal is to help those businesses make payroll, buy equipment and maintain or even expand employment as the nation's economy is bleeding jobs.
"As president I will continue to do everything in my power to ensure that you have the opportunity to contribute to your community, to our economy and to the future of the United States of America," Obama said.
(Excerpt) Read more at news.yahoo.com ...
He is probably saying to himself."Damn, this is $15 billion that should have gone to ACORN for more fraudulent votes..."!
Obummer just trying to make sure small business taxable income stays above $250K so he can reap increased taxes from them.
Warning! Warning! Attention small biz owners....Duck for cover! Obama is going to help you!!! Dive! Dive! Dive!
Yeah, just wait till Øbama figures out that small businesses make profits, that will have to be blocked just like the bonuses
Will he do the same for White people?
The most dangerous words ever spoken,
“We’re from the government and we’re here to help!”
Is that why the market is headed down, esp. the NASDAQ?
He just keeps throwing darts and missing the target.
He doesn’t have a clue.
You forgot - It’ll come with strings attached and you will hang yourself with them!
Details my arse.
It’s pathetic. He’s never worked a job that grew wealth of any kind. So yeah, he just throws out “ideas” as he has no clue as to what drives the economy.
This gives smoke and mirrors a bad name.
Like unscle Sam is really a business partner any small business would want.....or need. They can’t even keep their OWN books straight!!!!
No, Hussein. What small businesses need is customers. You know...the folks whose money you are going to be stealing with tax increases, higher fuel costs for cars and home heating, higher prices for food...oh, never mind. Send another billion to ACORN. Maybe one of its employees will buy a few cartons of cigarettes at one of those small businesses. You know, for distribution to “voters.”
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