But today Barack Obama announced an excellent group of programs and policies that stand a good chance of building a solid base for future economic growth. Obama's Small Business Initiatives will help provide much needed credit for small businesses and provide change the tax laws to help businesses survive the recession/depression. It's no substitute for the stimulus package we still need, but it will save a significant number of jobs and might actually create a few new ones.
|WASHINGTON – President Barack Obama freed billions of dollars to help the nation's small businesses on Monday, hoping to get credit flowing again to Main Street, not just Wall Street. He heaped praise on the little guys of American industry, often overshadowed in the blitz of government bailouts.|
The centerpiece of Obama's latest plan will allow the government to spend up to $15 billion to buy the small-business loans that are now choking community banks and lenders. That, in turn, could allow those banks to start lending money again to small companies to invest, pay bills and stay afloat.
"You deserve a chance. America needs you to have a chance," Obama said in an appeal to all those who run small businesses or hope to one day.
Obama's effort was, at one level, fundamental to helping the economy rebound. Small businesses have created about 70 percent of the new jobs over the past decade, and as their credit lines have dried up, so has their ability to thrive or survive.
Barack Obama has really had a tough start to his presidency. Fortunately the press either hasn't noticed many of the real problems and issues or has purposely chosen to ignore them. And you've got to give credit to the highly coordinated Democrat Demolition Squad that has kept at least the Obama supporters clearly focused on nonsensical non-issues like Rush Limbaugh, James Cramer and Glenn Beck. What a joke. Any Democrat or liberal who has fallen for this misdirection ploy should be thoroughly ashamed of themselves.
But Barack Obama is genuinely a very smart guy. He is a quick study and he hasn't been "misdirected." While Carvell and company kept the adoring masses entertained, Obama has worked to strengthen his economic proposals and programs. His economic team is still woefully understaffed and Secretary Geithner is still in deep trouble, but each day shows signs of improvement.