Tuesday, September 28, 2010

American on the mend - $42 billion aid to help Small Business

President Obama signed into law more assistance to stimulate small businesses recovery, advancement and jobs. The government package includes:

1. Eight (8) new tax breaks to the eight (8) which have already been created during Obama's Presidency (1/2009).  Capital gains for expanding business is being eliminated.

2. Low-cost Small Business Administration (SBA) loans are or will be available through community banks.  SBA Services Direct.  Additional eligibility and requirement information is available through a simple web search, try google "SBA loan requirements". 

Text and video from CNN 9/27/2010. "The Senate approved it on a 61-38 vote last week, with two Republicans breaking a GOP filibuster to join the 59 Democrats in supporting the measure. The House then voted 237-187 on mostly partisan lines to send the bill to Obama's desk."  Hurray for two (2) Republican Senators who jumped ship from the party of "no". 

As expected, the response from House Minority Leader John Boehner (R-Ohio) was:  "Unfortunately, this bill does nothing to help end the uncertainty that is crippling job creation and hurting small businesses...instead it puts taxpayers on the hook for even more bailouts."  Hey, isn't Boehner the same House Minority Leader who has been whining that America needs to create jobs? 

Note:  A few individuals standing behind the President are part of "1400 small business employers who have applied for SBA loans and will receive these loans immediately".  With this assistance total aid to small business will reach $55 billion during the Obama administration. 

Commentary. Following the government bail-out of large banks last year, these institutions protected themselves and made loaning money to consumers difficult and scarce. That included small businesses. Now with the support of  two (2) Republican votes only, the SBA (government) is able to step-in.  This financial assistance will enable small business to grow, and other "ordinary Americans" to gain jobs. Want your America back?  This is the old fashion way to do it, put people back to work-- and this is the way government can help, its a "hand up, rather than a hand-out." 

Posted by Kathy Meeh 


MrO friends are terrorists said...

Boehner is right. Since the signing of this bill; the stock market struggles, small business still won't hire, consumers will not spend.

How will business hire and expand if they are not confident that the consumer will come and spend. They won't, that's the problem and our Muslim President really does not care. It's all for show.

I dont need to work said...

Unfortunately, voters will vote for tax and spend Jerry Brown for Governor because they think he can save their pension. There are no more republicans left in this state, it is a one party rule , and the democrats rule this state. They have ran it into the ground and now the voters will vote for saving their pension and union contracts over saving this state and the majority of private sector employees. Who do they think pays for their pensions? Right, I know, Obama! Obama gonna pay for all my bills!

Kathy Meeh said...

Gee, and I thought the worst recession since the great depression (1930's)was the result failed government and private regulation failure (8 years Republican President, 12 years Republican congress) and big corporate greed.

Then there is the continued financial and human cost of Iraq and Afghanistan wars.

Save the "rhetoric", I know its all George Soros fault.

Anonymous said...

Are we at war with Pakistan?

Our President has been bombing the crap out of Pakistan. Predator Drones. Yikes! Chief White House Rahm "gets excited and wants to know ,'who did we kill today'" according to our Nobel Peace Prize President Obama.

2007 Democrats took over the Congress. Get it straight.

Kathy Meeh said...

Considering we were also talking about a Republican President, thanks for clarifying that was prior to 1/2007. Glad you understood that.

The Democrats, however, made a big mistake by changing the majority vote from 50%+1, to 60% in the Senate (5/2009). We would have better legislation had they not done that.

Unknown said...