August 6th, 2010
01:55 PM ET
8 years ago

Obama calls for movement on small-business bill

Washington (CNN) - President Barack Obama used an appearance at a small business in Washington to again call on Congress to pass small-business legislation that he says will help strengthen the American economy.

The Small Business Jobs and Credit Act is currently stalled in the Senate.

"It is so important to pass this jobs bill for America's small businesses. That's where most of our jobs are created. And small businesses have been especially hard-hit by the economy," said Obama, speaking at Gelberg Signs.

The bill would authorize the creation of a $30 billion lending fund. The Treasury Department would run the program, which would deliver ultra-cheap capital to community banks, defined as those with less than $10 billion in total assets.

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Filed under: Economy • issues • President Obama
soundoff (34 Responses)
  1. Naqib

    If you use TARP money it will fly right though...

    When you refuse to say where the money will come from... people go.. ok... how do we pay for it?

    Is that some forbiddon question? Why do Dems have such a problem accounting for what they spend... even if it's other peoples money... I mean... the Conservatives have to feed, cloth, house, protect and employ liberals... can't you at least manage your finance with some type of accountability?

    August 6, 2010 02:07 pm at 2:07 pm |
  2. John, Chicago

    All you republican idiots with short memories let's not forget who was at the wheel when the the economy collapsed. Guess what this bill is a good program and why is it stalled in the senate, you guessed it
    the republicans

    August 6, 2010 02:07 pm at 2:07 pm |
  3. Tom-Vermillion, Ohio

    Apparrently, President Obama was not aware that the GOP failed the small biz jobs bill, and for no good reason. The GOP has to go in November! No doubt about if the GOP gain control of Congress, we are DOOMED!!!

    August 6, 2010 02:07 pm at 2:07 pm |
  4. snow

    If nobama truly wanted to help small businesses he would get the heck out of their wallets and quit trying to steal more from them. Then he wants to put a group of tax cheats in charge of this new "stimulus" program. This is one sorry excuse for a President.

    August 6, 2010 02:08 pm at 2:08 pm |
  5. JD

    There is no movement because the repub's want us to suffer, want the country to fail, so they can take back the country for the rich, wall street, big oil... take a hint people... they don't like 98% of you!!! (the ones making less then 100K a year)

    August 6, 2010 02:08 pm at 2:08 pm |
  6. Dar

    $10 billion to prevent layoffs of teachers and first responders. It now moves to the House, which will return Tuesday from its August recess to vote on the bill.

    "I will sign it into law," Obama said Friday

    Of course he will, these are his UNION buddy's, how much more of our taxes will he continue to give them???????????

    What about people who are not in a union, screw them???

    The people's President, sure as long as you are a union member or a couch potato sitting on your rear end collectting a free ride off the working people back.

    August 6, 2010 02:08 pm at 2:08 pm |
  7. Brian

    Repugnants want this slow recovery to continue so they can capitalize on it politically. They will stall and stall even though tax breaks to small businesses is part of their stump.

    August 6, 2010 02:09 pm at 2:09 pm |
  8. jim

    Obama has done everything in his power to punish small businesses in this country since he became president .But you would never know that by listening to him talk.

    August 6, 2010 02:09 pm at 2:09 pm |
  9. normajean

    Wasn't it just weeks ago that the republicans were complaiining that the president wasn't doing anything about funding small businesses and then when the bill came up the "party of no" wouldn't sign it? Don;t these people think that the voters can read? Come November they will find out.

    August 6, 2010 02:11 pm at 2:11 pm |
  10. water bearer

    Republicans don't want to help small business. Republicans don't want to help create jobs. Republicans have decided that the way they can get elected again is for the country to stay in trouble. Republians have decided that the more anger there is among the electorate the better their chances at getting the anti-Obama votes. Republicans do not care about the welfare of the country. Republicans care about getting votes. Period. That's how cynical and diabolical they are.

    August 6, 2010 02:12 pm at 2:12 pm |
  11. Betty

    Hmmm ... I thought the Republicans said Pres. Obama doesn't care for small businesses, only unions.

    August 6, 2010 02:13 pm at 2:13 pm |
  12. Four and The Door

    2 years and $3 trillion later Obama is starting to understand that throwing taxpayer money at Wall Street and Fortune 500 companies like GM doesn't revive an economy.

    Their initial efforts to get banks loaning to small businesses was a bust. It hasn't happened and the nation's biggest banks took plenty of government money but did very little lending. Credit right now is extremely difficult to get and I hope they have better results getting the community banks to lend. Otherwise they are wasting this money too.

    August 6, 2010 02:17 pm at 2:17 pm |
  13. vegage

    Obama needs to call out republicans more strongly because all the bills get stocked in the senate due to the obstructionist of republicans. Every single pieces of legislation is filibustered, it is just crazy. Why in the world it should be like that? This country can't function like this, it deserves better. I think this draconian parliamentarian rule of the 60 votes should be eliminated, caput, should go….

    August 6, 2010 02:21 pm at 2:21 pm |
  14. Dave

    The report noted we lost another 100,000+ jobs. The current policies are not working! Time to reject socialism.

    August 6, 2010 02:24 pm at 2:24 pm |
  15. Never again

    Obama's a fake. There's nothing there. An illusion. Smoke and mirrors. An empty suit. All image, no substance. Hope and change was just a huckster's pitch. He faked most of the country out to get elected. They all fell for the patter of a high-level Chicago con-artist.

    Thanks for nothing.

    August 6, 2010 02:24 pm at 2:24 pm |
  16. Chuck

    The big banks they give $700 Billion with a two page application and no other questions asked. Community banks that help main street and we can't even give a mere $30 billion.

    Top 1% = $700 Billion
    Remaining 99% = We have to fight over $30 Billion

    And the Republican's are very upfront about what they're doing.

    August 6, 2010 02:24 pm at 2:24 pm |
  17. Dutch/Bad Newz, VA

    Republicans will hold this bill up like they do with all the other bills. What they fail to realize is that every attempt to block a bill the President wants is a smack in the face of the American worker. This election will be about choice. Republicans choose to back their corporate special interest, while the democrats choose to fight for the American worker. The obstructionists are going out the door in November.

    August 6, 2010 02:25 pm at 2:25 pm |
  18. GL

    Reid need to cancel the recess and put the Small business bill back on the floor today and put the Republicans on record again so the American people can see that the Republicans could care less about people getting back to work before Nov. And with the help of the Big corporations not hiring hoping that their friends in the Republicans win back Congress to give them their BIG OLD TAX CUTS. All they care about is winning at what ever cost.

    August 6, 2010 02:30 pm at 2:30 pm |
  19. Larry

    The republicans preach how small business needs help.

    Interesting to see if they filibuster this bill.

    August 6, 2010 02:39 pm at 2:39 pm |
  20. nini

    Every thing you said is good for America it wasn't Mr. President.

    Every time this man says we should do something we should run the other way America.

    Obama has one goal and one goal only Transforming our nation into a Socialist Democracy that lead to Tyranny.

    August 6, 2010 02:41 pm at 2:41 pm |
  21. gt

    the banks , taxes , and the government are the ones to blame... loose n lending , lower taxes and get the government off our backs....

    August 6, 2010 02:41 pm at 2:41 pm |
  22. Rushs unseen, unheard, staff are the people he has callin to his show

    Hurry up,Rush needs his lawn cut,and Rush doesnt know if he can hire more day laborers to take care of his mansion and feed his cat and his invisible staff.He cant get the Thailand boyscouts a visa to give him back rubs either,poor Rush.

    August 6, 2010 02:49 pm at 2:49 pm |
  23. sensible Cape Coral Fl

    The Republicans will never support the Small Business Bill because it will help the P E O P L E. – you know the ones you are obliged to help.

    August 6, 2010 02:52 pm at 2:52 pm |
  24. Marcus

    'Do as I say, just don't do as I did' seems to be the matra of the GOP these past months. They are blocking (or trying to) every bill that is necessary for the recovery of the economy with the tired excuse of 'There is no money for that bill' or 'It will only add more billions to the deficit'.
    Well, big news for you fellas... the POTUS knows it.
    BUT, unlike you, he is willing to DO something to change what YOUR drunkard spending (based on those tax cuts that are so dear to you) caused to the economy.
    And it costs money to do anyhting to FIX YOUR MESS.
    So the POTUS mantra is 'I will do as I said I would (and got voted to) do, and I won't do as YOU did.'

    August 6, 2010 02:53 pm at 2:53 pm |
  25. ex-repulican since McCain picked Palin

    It is important to us because we care about people Mr. President, but the party of "NO" care only about making you look bad and keeping you from having any success. They, like those that parrot them, care more about stirring up hate and anger. How can anyone with a brain or a heart follow people like Hannity, Beck, Palin, Rush etc. . Some of you who post comments are delusional and refuse to listen to facts instead of fox news. For instance, how many more times do you need to see a Birth Certificate. Or admit how much President Obama has already done for this Country. Disgusting what the party of "NO" has done to this country and some of you are helping them. And I am not a Democrat, I am an Independent and I approve of the POTUS.

    August 6, 2010 02:54 pm at 2:54 pm |
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