Posted by: Kim_Hamilton on 02/06/2010 09:04 AM
Updated by: thepinetree on 02/07/2010 10:45 PM
Expires: 01/01/2015 12:00 AM Weekly Address: Opening Doors for Small Business
Reiterating once again his commitment to small business as the engine of our economy, the President urges Congress to move forward immediately on steps to help them expand and create jobs. These proposals include using $30 billion in TARP funds to create a new Small Business Lending Fund to provide capital to community banks to increase lending to small businesses, offering a new tax credit for over one million small businesses that hire new workers or raise wages, and providing targeted support for the most innovative small businesses with the potential to export new goods and products.
Remarks of President Barack Obama
As Prepared for Delivery
Weekly Address
February 6, 2010
Even though our economy is growing again, these are still tough times for America. Too many businesses are still shuttered. Too many families can’t make ends meet. And while yesterday, we learned that the unemployment rate has dropped below ten percent for the first time since summer, it is still unacceptably high – and too many Americans still can’t find work.
But what we must remember at a time like this is that we are not helpless in the face of our difficulties. As Americans, we make our own destiny. We forge our own path. And I am confident that if we come together and put aside the politics that keeps holding us back, we can do that again. We can rebuild this economy on a new, stronger foundation that leads to more jobs and greater prosperity.
I believe a key part of that foundation is America’s small businesses – the places where most new jobs begin.
These companies represent the essence of the American spirit – the promise that anyone can succeed in this country if you have a good idea and the determination to see it through. And every once in awhile, these ideas don’t just lead to a new business and new jobs, but a new American product that forever changes the world. After all, Hewlett Packard began in a garage. Google began as a simple research project.
Government can’t create these businesses, but it can give entrepreneurs the support they need to open their doors, expand, or hire more workers. And that’s what we’ve always done in this country. The folks at Southwest Windpower in Flagstaff, Arizona started their company in a small home. Since getting a loan from the Small Business Administration, they’ve sold 160,000 wind turbines to about 90 different countries, and are hiring even more workers today. When Sam Ko walked into one of the SBA’s small business development centers in Illinois, he didn’t have any business experience at all – just a patent for a new metal manufacturing technology. He was given a loan and a business plan, and today his company is still growing, with offices all over the Midwest.
Last year, the steps we took supported over 47,000 loans to small businesses and delivered billions in tax relief to small business owners, which helped companies keep their doors open, make payroll, and hire workers. But we can and must do more. That’s why I’ve proposed a series of steps this week to support small business owners and the jobs they create – to provide more access to credit, more incentives to hire, and more opportunities to grow and sell products all over the world.
Because financing remains difficult for good, credit-worthy small businesses across the country, I’ve proposed that we take $30 billion from the TARP fund originally used for Wall Street and create a new Small Business Lending Fund that will provide capital for community banks on Main Street. These are the small, local banks that will be able to give our small business owners more of the credit they need to stay afloat. We should also continue to waive fees, increase guarantees, and expand the size of SBA-backed loans for small businesses. And yesterday, I proposed making it easier for small business owners to refinance their mortgages during these tough times.
To give these companies greater incentives to grow and create jobs, I’ve proposed a new tax credit for more than one million small businesses that hire new workers or raise wages, as well as the elimination of all capital gains taxes on small business investment.
Finally, we should provide targeted support to the most innovative small businesses – the ones with the greatest potential to export new goods and products all over the world. A lot of these companies – like the wind turbine manufacturer I mentioned – are the foundation on which we can rebuild our economy to compete in the 21st century. They just need a little help securing the financing they need to get off the ground. We have every incentive to help them do that.
Next week, Congress will start debating many of these proposals. And if anyone has additional ideas to support small businesses and create jobs, I’m happy to consider them. My door is always open. But I urge members of both parties: do not oppose good ideas just because it’s good politics to do so. The proposals I’ve outlined are not Democratic or Republican; liberal or conservative. They are pro-business, they are pro-growth, and they are pro-job. Leaders in both parties have supported similar ideas in the past. So let’s come together and pass these measures without delay. Let’s put more Americans back to work, and let’s give our small business owners the support to do what they’ve always done: the freedom to pursue their dreams and build our country’s future. Thanks for listening.
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Let's Hope He Gets It Now Posted on: 2010-02-06 12:25:37By: Anonymous
Mr Obama took care of the people that caused the recession, threw Billions at them, they made billions, but not by restarting the US economy,they bought banks with it, and invested overseas.Obama's mistake was no stipulations on the TARP $$. Lets hope now he gets it, and forces the banks to restart the economy by requiring the banks to lend to worthy businesses,the only way this economy will get going again.So far it's a jobless recovery.The few are doing very well at the expense of the middle class, this is not equitable.Government policy can't be only for one class.Supply side economics hasn't worked,yet it is implemented over and over.let's hope Obama gets it now.
Re: Let's Hope He Gets It Now Posted on: 2010-02-06 12:43:33By: Anonymous
Edited By: Cleareye On: 2010-02-06 12:45:22
typos
Sensible comment. Missing is the problem of way too much spending- on everything! We are locked in a box where the spenders have no relationship to reality and just keep doing the same thing, no matter what.
I have a couple of suggestions that at first are shocking but when logic is applied they may be reasonable.
First, eliminate the US Navy and fold them into the Coast Guard which actually has a sensible mission. We do not need 11 aircraft carrier groups floating all over the world that cost the taxpayers hundreds of billions. We do not need nuclear submarines at all. Think about it. When was the last time they did anything worth the investment? We now have aircraft that can reach anywhere from American bases at home.
Second, step up negotiations to eliminate all nuclear weapons everywhere and kill off the biggest Pentagon boondoggle in history, the missile defense shield, it is useless now and will always be. Our threats will come by commercial airlines. Why would our enemies waste money on missiles?
Re: Let's Hope He Gets It Now Posted on: 2010-02-06 13:16:20By: Anonymous
There is only one problem with all of this...repaid TARP money by law can only be used to reduce the deficiet. Obama's proposal is basically against the law.
Re: Let's Hope He Gets It Now Posted on: 2010-02-06 14:08:14By: Anonymous
Check it out, less than half of the TARP funds were under the Bush administration and the bill was passed by a Democratic Congress including Obama who voted for it.
The person directing the bail outs was our current head of the Treasury Mr. Geitner. But there is still no argument because the TARP BILL WHICH BECAME LAW DOES NOT ALLOW REPAID TARP MONEY OR INTEREST TO GO ANYWHERE BUT TO REDUCE THE DEFICT maybe President Obama who supported this bill doesn't concern himself with being lawful or for that matter respecting the Constitution.
Re: Let's Hope He Gets It Now Posted on: 2010-02-07 12:52:44By: Anonymous
When will you people ever stop blaming Bush and put some responsibility where it belongs. The last two years of the Bush administration were controlled by a democratic congress/senate. Check the facts...see who wanted all the spending? Also Obama has been in office for one year plus. When will you start holding that administration responsible for this mess we're in? Its a democratic president, congress and senate. It seems they could do whatever they want..good or bad and they choose to keep down the same path...debt, debt, socialism, socialism and more of the same!!! Take some pride in your country, man...put blame where it should be!! Accept some yourself for voting for Obama!!!!!!!!!!!!!!!
Re: Let's Hope He Gets It Now Posted on: 2010-02-07 17:35:05By: Anonymous
Actually, if you want to know the scary truth...this mess started several decades ago. When will you wake up and smell the odor of the mess? It wasn't Bush, Sr, it wasn't Clinton, it wasn't Bush Jr and it isn't Obama. This great country has been in a sublime downfall for many, many years. Check into the facts. Look at history. Check Progressives in google. It should scare the pants right off you!!! The blame doesn't lie with any one person or any one presidency...it goes WAY back, but in the present, it includesYOU because you're too darn stubborn or stupid, whichever you prefer, to look at the facts and the history. Come on...for you good, for your family and for the rest of us, check out the facts. Lets come up with a solution that will save us all!
Re: Let's Hope He Gets It Now Posted on: 2010-02-06 14:49:43By: Anonymous
*laughing* When it comes to Calaveras County, it won't make a bit if difference what Obama or Arnie throw money at given "The Good Old Boys" in the County don't want competition.
Until the BOS realize that REAL retail -- even ONE big box store -- will bring much needed sales tax revenue into the county, anything Obama or Arnie do is moot.
Example -- San Joaquin County gets my tax revenue for trips to Costco and Smart and Final. Amador County gets my tax dollars due to WalMart. I am a shopper that will NEVER to all my shopping at the likes of Treats and/or Senders.
So keep fighting it Boys! It's only Calaveras County as a whole that loses.
Re: Let's Hope He Gets It Now Posted on: 2010-02-06 17:08:16By: Anonymous
Hear, Hear! One big box store is not going to destroy the ambiance of the whole county! I, too, end up going over to Amador County to WalMart and/or KMart any time I need anything other than food. Or I buy online. Given the choice I would much rather do my shopping here in Calaveras County, but there's just no place to do it that has a decent selection and decent prices. A big box store is NOT going to take away tourist dollars. If they want to shop at WalMart they'll do it in their home towns. They come up here to visit the "quaint" businesses in areas like downtown Angels. A big box store would bring in much needed tax revenue and much needed jobs. The upside would far outweigh any potential downside.
Re: Let's Hope He Gets It Now Posted on: 2010-02-06 19:43:14By: Anonymous
all of you need to stop going over to those other counties. The day we stop is the day a business will consider coming here.
As long as you willingly go elsewhere to buy goods, that company is not going to waste their money transporting goods into Calaveras County. It costs extra money to get those goods into this county because we're not on a major highway artery.
Re: Let's Hope He Gets It Now Posted on: 2010-02-06 20:33:33By: Anonymous
I agree. Shop local first. BUT locals need to service the needs of the people. Businesses need to develop business plans and provide those services which are not being met. Surely there are enough folks out there who are creative and don't need to duplicate other successful existing businesses. Does anyone out there ever say to themselves "What need is not being met and how can I fill that need" ? Not many obviously. I think in this county it is more like "Who is successful and I think I'll do the same thing". And those of you in business don't count one iota on your suppliers having any loyalty - they will eat their own!
Re: Let's Hope He Gets It Now Posted on: 2010-02-06 18:12:58By: Anonymous
First of all I don't think that many or any small businesses in this county would benefit from a "tax credit" A "tax credit" assumes you make enough to pay taxes. Secondly, all the small businesses I know cannot afford to pay the employees they "had" let alone hire anyone for a new position. Thirdly, I don't think businesses in this county are "anti-competition" . They are anti other business people ripping off their business. Why do most folks shop outside the county? It is because of the lack of selection, mainly created by the total lack of imagination of new business owners who are unable to think outside the box and create a new and unique shopping experiences.
Re: Let's Hope He Gets It Now Posted on: 2010-02-06 19:59:01By: Anonymous
That's great, but the assumption is still that a small business is making enough profit to pay taxes. That, unfortunately is not the case for most small businesses in this county.
Re: Let's Hope He Gets It Now Posted on: 2010-02-08 01:36:45By: Anonymous
The only reason tax credits aren't welcome in my small business is because it is MY small business. I don't want big government taking over MY small business like they've taken over GM, banks, insurance companies and whoever else they feel are dumb enough to accept the tax credits. Think, man, think...use your brain for a change!!!
Re: Let's Hope He Gets It Now Posted on: 2010-02-08 07:56:14By: Anonymous
Many small businesses who used to make a profit are now laying off their employees and working 24/7 to keep their businesses, and using their savings to stay afloat in hope the economy may pick up. Cutting back on employees is the only area you can cut back on. Offering a business a "tax credit" does nothing when you can't afford to hire an employee, who probably will cost you $30K per year once you add on payroll taxes, worker's comp insurance, SDI, unemployment insurance and the employeer's portion of their social securtiy.
Re: Let's Hope He Gets It Now Posted on: 2010-02-07 12:57:54By: Anonymous
WRONG!!! The aim of government loans or anything else is so government can take over or eliminate small businesses. Wake up...look at the banks, states, car manufacturers who have accepted money from the government. The current administation and the progressives want control and small businesses stand in their way. I own a small business and it will be a cold day in hell before I accept anything from BIG government.
Re: Let's Hope He Gets It Now Posted on: 2010-02-06 19:45:37By: Anonymous
good points.
In the end it will be up to us to fix our own small business problem. Would similar companies consider partnering up to save themselves from going under or to realize better revenue potential? These are the questions we should be asking ourselves.
Re: Let's Hope He Gets It Now Posted on: 2010-02-06 20:07:39By: Anonymous
I am not sure I understand "partnering" up. In a county this small there should be no similar companies (or businesses). Lord knows there are enough products and services out there in the world that there could be 2 or 3 hundred unique and individual businesses to provide the public with enough options to serve their needs. Really, how many wine tasting rooms, hair and nail salons and plant shops does one quarter mile of highway need?
Re: Let's Hope He Gets It Now Posted on: 2010-02-07 14:08:02By: Anonymous
'partnering up' is another word for 'merger'. Capitalism as a method of production and the basis of an economy thrives on mergers to end unprofitable and outdated ways of doing business.
Small, large, world-wide, it doesn't matter the geography. Mergers are a reality. We saw a bit of that going on in the wine industry with Black Sheep last year. Will we see more?
Re: Let's Hope He Gets It Now Posted on: 2010-02-07 09:49:00By: Anonymous
Failed? The GDP is up. The unemployment rate is slowly going down. The problems he is trying to fix are being addressed, but nothing is happening fast. Let's hope for everyone it continues.
The issue of dept is a whole another problem. The debt problem will not solve itself unless the economy is moving.
Dammed if you do, dammed if you don't.
PS At least Palin is not our leader, OMG
Re: Let's Hope He Gets It Now Posted on: 2010-02-07 12:10:10By: Anonymous
OMG is right. Last night she had to right simple things down so she wouldn't forget them. She wrote them on her hand and then waved her hand around so we could see the notes! Hahahahhahahah!
Re: Let's Hope He Gets It Now Posted on: 2010-02-07 12:19:01By: Anonymous
hahahahah!
Crib Notes? This potential presidential candidate and "movement" leader was using crib notes to answer basic questions?
This would mean:
A) That she knew the questions beforehand and the whole thing was a farce. (Likely.)
and
B) That she still couldn't answer the previously agreed-upon questions without a little extra help.
If true, this is supremely rich coming immediately after a speech in which Palin took a shot at President Obama for using a teleprompter to read his prepared speeches.
You can bet that the President wasn't reading scribbles off his extremities while he sparred with Republicans and Democrats in an unscripted format in his recent Q&As.
Palin, on the other hand, seems to need a cheat-sheet just to get through a contrived lovefest with a smitten interviewer and an adoring audience.
I'm no fan of the Tea Party movement - if it can be called such - but if this is their leader I actually sympathize with them.
Re: Let's Hope He Gets It Now Posted on: 2010-02-07 13:08:14By: Anonymous
Why do you liberals continue to put Sarah Palin down? Know why? I do...you're terrified because she speaks the truth and you just can't face it!!! You want to continue thinking you live in this "perfect" world and you just don't want to realize we as a free country are being destroyed. You don't want to think about the debt you're facing and that you're passing on to you children, grandchildren and great grandchildren. Just face it and lets move forward by finding a solution. Don't waste precious brain cells criticizing someone who is trying to show us some facts and possible solutions!! Come on...pick yourself up by your bootstraps and be a responsible free American...responsible for yourself, your children, your grandchildren and your great grandchildren...and if things keep going as they are for many more generations. That is if we're all still here or if our national security continues down the current path and the United States is totally destroyed. Just remember, you are important in all these issues. Wake up, PLEASE...for all our sakes!!!
Re: Let's Hope He Gets It Now Posted on: 2010-02-07 14:02:59By: Anonymous
you know why Palin supporters ERUPT when someone finds another reason to laugh at Sarah?
That's because you have no interest in bringing back good government, instead your preference is for no government at all and that makes Sarah irrelevant as a potential government leader.
The sad thing is this country was built on the basis of a national government, it's frequently operated on the basis of good decisions, more often, it's operated on the basis of corrupt and immoral decisions.
Here's the real kicker: Sarah Palin supporters believe just as much in the 'hopey-changey' thing that Obama supporters want. California voters did too when they brought in Arnold thinking he would push and shove his way through real reform.
Now what we have is an outsider taking pot shots at Obama. It's easy to do that. It's hard to actually bring change. Obama's government is fighting off corporate greed. Meanwhile Palin is taking in six figures to spout issues she writes on her hand. How greedy is that?
Re: Let's Hope He Gets It Now Posted on: 2010-02-08 01:39:38By: Anonymous
Okay big mouth...give us your suggestions. We just want to get out of this mess in a sensible way that doesn't continue to jeopardize our freedoms...no matter where it comes from. If you're so much more intelligent than the rest of us...help us come up with a solution.
Re: Let's Hope He Gets It Now Posted on: 2010-02-07 13:09:50By: Anonymous
Better a hand than a teleprompter!!! At least she does her own research, finds her own facts and considers them so important SHE writes them down!!! Contrary to OBAMA..who is evidently your hero...God help you!!
Re: Let's Hope He Gets It Now Posted on: 2010-02-07 17:40:53By: Anonymous
The thoughts that are on the hand are also on the mind....contrary to the telepromter. Those thoughts and facts are on somebody else's mind. So if they disappear off the hand...so what? The brain and heart will prevail. If the teleprompter fails...POOOOOFFFF, thoughts are gone because they didn't belong to the speaker to begin with. Simple facts, simple, simple, simple!!!! Wake up
Re: Let's Hope He Gets It Now Posted on: 2010-02-08 01:41:37By: Anonymous
More than Obama....check the facts. Do some research and save your freedom..as well as the freedom of your children, grandchildren and great grandchildren.
Re: Let's Hope He Gets It Now Posted on: 2010-02-08 10:56:37By: Anonymous
Of course the questions were planned in advance. So what. I don't see why all you libs have your panites in a wad because she had some notes. Obama can't even speak without a teleprompter. She wasn't giving a candidate speech - it was a pep rally for God's sake!
Re: Let's Hope He Gets It Now Posted on: 2010-02-08 19:34:13By: Anonymous
You know, if all of you Obama supporters were happy with the results of the election you would not give a flying rat's behind about what Palin is doing. Obviously you are having second thoughts about your man.
Re: Let's Hope He Gets It Now Posted on: 2010-02-07 13:02:01By: Anonymous
Have you seen any figures to substantiate this statement? Anyone can say anything they want. Just because I say I'm a democrat doesn't make me a democrat. Ask to see the figures and you'll get some ridiculous excuse like "they're not available on an open weblink right now or check back later". Later? When is later? To me that means they're just saying what YOU want to hear. I don't blame you..I'd like to live in a perfect world, too. But reality hits me everyday and there's no way all the figures can be proven...honestly and factually!! If you don't believe me, ask for the figures, then do the research. You may be shocked!!!
Re: Let's Hope He Gets It Now Posted on: 2010-02-07 14:23:22By: Anonymous
Well, you know that the current administration can't be doing anything that benefits the economy, and the stimulus can't have worked and all that, so the GDP can't be up and the unemployment rate can't be down, so the numbers must be faked.
Re: Let's Hope He Gets It Now Posted on: 2010-02-08 09:01:35By: Anonymous
No, what we will see there is a bunch of lemmings going blindly to their demise! The failure of the Tea party movement was signaled with the speech of Sarah Palin! What a monumental fail!
Re: Let's Hope He Gets It Now Posted on: 2010-02-08 17:18:44By: Anonymous
It isn't even worth my time to argue with you. I always refrain from calling people stupid but this is an exception. You're a closed minded, stupid communist! End of my discussion with you!!
Re: Let's Hope He Gets It Now Posted on: 2010-02-08 19:50:51By: Anonymous
Failed? Yes. The stock market is once again plumeting, no jobs are being created, we owe the company store to China, state wide we are going into debt to pay pensions for worthless government employees who would be unemployable in the private sector. People are depressed. They are losing their homes, their jobs and their retirement. People who have worked their butts off for 30 years and have nothing to show for it. Maybe we need to stop these obscene salaries, benefits and pensions for someone who works 20 years for the government. This is exactly what Obama wants - all americans working for the government so he can have total control over business. Think about it. Were screwed.
