Monday, March 16, 2009

Barack Obama's Small Business Initiative

I've been rather tough on Barack Obama's economic plans and programs and with good cause. Obama allowed Nancy Pelosi oversee the creation of Frankenstein's Stimulus Monster, an unworkable combination of hands and feet and legs and ears that can only slither off to die the death it so richly deserves. It's just a damned shame we had to pay eight hundred billion dollars for this monster.

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.


shoo said...

I have some cautious optimism on this one. On the surface, it sounds great. But I am getting more and more cynical with this President after the BS he pulled on his stem cell research executive order. The press reported how his program would help "some" SBA loans, which hints at currently undisclosed criteria. As usual, the devil is in the details and I'll wait for those details before I proclaim this a good thing.

Lee said...

Rough start indeed, Obama protests are attracting crowd with more and more occurring. At least someone knows were the money is coming from.

Helping small business is a good thing. I too am waiting for the other shoe to drop (pun intended).

The integrity of the news media, one of your recurring themes, is so telling. More and more I see the MSM as divisive and mis-informative.

Will "take no prisoners" Hart said...

Not to sound hackneyed, but small businesses truly are the engine of this economy. Anything that the president does which signals a recognition of this fact is welcome.

Lee said...

Your graphic reminded me of