Posted on 09/22/2010 1:35:24 PM PDT by rebel_yell2
Passage of the $42 billion small-business bill is virtually assured after two lame-duck Republicans joined 59 Democratic senators voting in favor of the bill on Thursday, but don't expect this new stimulus bill to help the economy avoid a double-dip recession. Why? Look no further than the two key components of the bill: $30 billion to boost lending to small businesses and $12 billion in targeted tax cuts for qualifying small businesses.
First and most important, the $30 billion won't actually go to small businesses in the form of loans; it will go to small banks in the form of capital. At its heart, this plan is nothing more than a Son-of-Paulson TARP (Troubled Asset Relief Program) bank bailout - except, of course, that it is much smaller and is focused on community banks rather than Wall Street banks.
(Excerpt) Read more at washingtontimes.com ...
YEP more stupid waste of money.
Vote the Bass Turds OUT!
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