U.S. Treasury Secretary Tim Geithner (R) listens as U.S. President Barack Obama announces new small business lending initiatives during a visit to an archive storage company in Landover, Maryland October 21, 2009. REUTERS/Kevin Lamarque
Posted on 10/21/2009 11:57:26 AM PDT by NormsRevenge
LANDOVER, Md. – President Barack Obama unveiled plans to refocus spending of the government's $700 billion financial bailout away from Wall Street's big financial institutions and toward small businesses on Main Street.
Speaking in a small business near Washington, Obama said the initiatives would make it easier for smaller community banks to provide credit to small businesses, which have been hard-hit by the financial crisis. The president's plan also includes a request that Congress increase caps for existing Small Business Administration loans.
"Over the past decade and a half, America's small businesses have created 65 percent of all new jobs in the country," Obama told about 150 employees in a warehouse at a storage business filled with rows of boxes three-stories high.
"These companies are the engine of job growth in America," he said. "They fuel our prosperity. And that's why they have to be at the forefront of our recovery."
Obama pitched the plan as a way to create jobs and change day-to-day life.
(Excerpt) Read more at news.yahoo.com ...
time to help the little guy out.
U.S. Treasury Secretary Tim Geithner (R) listens as U.S. President Barack Obama announces new small business lending initiatives during a visit to an archive storage company in Landover, Maryland October 21, 2009. REUTERS/Kevin Lamarque
Better late than never......................
Somehow that number doesn't sound high enough.
top of the hour abc news radio
2 key moves..
TARP money will go to communities banks
Raise the loan limit to 5 million.
While his minions tax us into oblivion...
He probably bumped his head .. on the basketball hoop
...or at least dangle a carrot.
What we want is for you to get your hands out of our pockets and your nose out of our business and STFU.
If recent experience with banks and corporations is any indicator, if America’s small businesses accept government aid, they had better be prepared for government control.
U.S. first lady Michelle Obama hula hoops with kids at the White House Healthy Kids Fair on the South Lawn in Washington, October 21, 2009. REUTERS/Larry Downing (UNITED STATES POLITICS)
It’s for the headline.
He’s figured out if small businesses don’t thrive they won’t be able to afford his health care reform.
The US Federal Reserve Building is seen from the air over Washington, DC. The US economy is showing more signs of firming in an extension of a "modest" recovery from recession, the Federal Reserve said in its Beige Book report. (AFP/File/Saul Loeb)
How long until he limits how much the local plumber can make or how much a small business owner can charge a customer for a set of tires?
You're not really buying anything this lying commie is peddling, are you?
So he’s going to take $100 out of one pocket (taxes) and put $5 of it into the other (”stimulus”).
Don’t get upset if I don’t seem enthusiastic.
I have an idea, CUT TAXES!!
He’s showing an ability to learn on the job - just what America wanted when they chose to hire this temp. :)
Amen to that! City, county, state and federal regulations and taxes are making it impossible to run a small business. We are to the point we would love to just close up shop and chuck it all (unfortunately, we need the "big money" we capitalists make to feed our familiy).
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