October 10th, 2008
12:45 PM ET
14 years ago

Obama unveils plan to help small businesses

[cnn-photo-caption image= http://i2.cdn.turner.com/cnn/2008/POLITICS/10/10/campaign.wrap/art.obama.ohio.ap.jpg caption="Sen Barack Obama speaks during a rally in Chillicothe, Ohio, on Friday."]
JEFFERSON CITY, Missouri - Sen. Barack Obama on Friday unveiled a plan to help rescue small-business owners struggling to stay afloat in the sinking economy.

Obama, the Democratic presidential nominee, called for a program of loans for small businesses made through either the federal Small Business Administration's Disaster Loan Program or by private lenders. The private loans also would be guaranteed by the SBA, Obama said.

Watch: Obama blasts GOP tactics

The plan also would eliminate all capital gains taxes for small businesses and start-ups, Obama said during a rally in Chillicothe, Ohio. He said a similar program was created after the September 11 terrorist attacks.

"This is not a time for ideology. This is a time for common sense and a politics of pragmatism," Obama said. "The test of an idea must not be whether it's liberal or conservative - whether it's Republican or Democrat. The test should be whether it works for the people of Chillicothe, the people of Ohio and the American people."

Saying "it's easy to rile up a crowd by stoking anger and division," Obama also chided his Republican rival, Sen. John McCain, for running "misleading ads" and pursuing "the politics of anything goes."

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Filed under: Candidate Barack Obama
soundoff (95 Responses)

    go get 'em!

    October 10, 2008 02:18 pm at 2:18 pm |
  2. America

    Obama is the man!

    October 10, 2008 02:18 pm at 2:18 pm |
  3. Johnny

    Thats what I am talking about!

    "That one" '08

    October 10, 2008 02:19 pm at 2:19 pm |
  4. Billy

    Way to go Obama! Stay positive, talk about real issues, just be yourself!

    There are two kinds of people in the country right now:

    1. People full of hope filled with a desire to work together to pull America up.

    2. People who are terrified of losing power and yearn to hear hate and fear filled speeches disguised as patriotism.

    Which side are you with?

    October 10, 2008 02:19 pm at 2:19 pm |
  5. Independent from GA

    Finally, some plans.....

    October 10, 2008 02:21 pm at 2:21 pm |
  6. Michele, Pittsburgh, PA

    As a small business owner, I've been hoping someone would get around to us. That's why from day one I thought McCain was too busy going negative rather than telling us why we should vote for him.

    October 10, 2008 02:21 pm at 2:21 pm |
  7. Palin is a Patriot Act

    Obama – the words and actions of a TRUE leader. Not the rhetoric of hate and divisiveness from McCain

    October 10, 2008 02:22 pm at 2:22 pm |
  8. Dave

    So wile McCain & Palin are inciting their crowds to anger and violence, Barack Obama is releasing a new plan to help small businesses.

    Who is really putting country first?

    October 10, 2008 02:24 pm at 2:24 pm |
  9. Proud to be American

    Excellent Plan!

    Obama and Biden 2008!

    October 10, 2008 02:24 pm at 2:24 pm |
  10. BC

    Well, I think all we need to do to fix the economy is to get everyone in the country to get mad at Obama for knowing William Ayers! McCain has talked about nothing other than Ayers for what seems like weeks. Obama continues to talk about fixing the problems. Now, who do we want to vote for...?

    October 10, 2008 02:25 pm at 2:25 pm |
  11. Hispanics 4 Obama

    Talk about polar opposites: the best and smartest campaign ever run vs the worst and most degrading campaign ever run. Real leadership in a time of need.

    October 10, 2008 02:26 pm at 2:26 pm |
  12. A Kentucky Redneck

    Obama's plan sounds like something that might just work. I sell vehicle spares and I am already feeling the pinch. Should we elect McCain Palin, we will be a thirdworld country by 2012. Let's vote for Obama for the sake of the economy. In 2012, we'll put in Mitt Romney because he is experienced in as a far as the economy is concerned. Think America, Think.

    October 10, 2008 02:27 pm at 2:27 pm |
  13. Glenn in California

    He's putting ambition over country. Oops, sorry. That's what the hockey mom said. You know, the clueless one who's on the Republican ticket.

    Obama's demonstrating his cool under fire and offering substantive solutions while Mr. "Get Off My Lawn!!!" can only attempt to divert and distract from the real issues.

    November 4th can't come soon enough so that we can really turn the page; on 8 years of misery.

    Just say NO to Bush 44 and the hockey mom.

    October 10, 2008 02:27 pm at 2:27 pm |
  14. surprised at the criminal gop'ers??????????

    piglin and mc c to a quick sand pit

    October 10, 2008 02:28 pm at 2:28 pm |
  15. Lynn: 60 yr old white Obama supporter

    The prosecutor in the Bill Ayers case has stated he is "amazed and outraged that Obama is being linked to Ayers' illegal activity. He has also stated that the case was dismissed due to "illegal activities including wiretaps, breakins and mail interceptions initiated by John N Mitchell, the Attorney General at the time..."

    CNN needs to give balance by interviewing this man who was actually involved in the case.Funny that a policy that is so clearly laid out is buried so far down in the blog!!

    October 10, 2008 02:28 pm at 2:28 pm |

    Now that's change we can believe in! Vote for Barack Obama. John McCain is MORE OF THE SAME.

    October 10, 2008 02:28 pm at 2:28 pm |
  17. Justin

    Might want to fix your, "Full story" link, CNN.

    October 10, 2008 02:29 pm at 2:29 pm |
  18. mike

    Wow, what a concept! A candidate for President actually giving us ideas on the economy. I heard McCains economic policy today too: "Barack Obama is a terrorist! Just ask Ayers!!" Good policy...

    October 10, 2008 02:29 pm at 2:29 pm |
  19. Sly in Seattle

    Way to go, Barack! Stay above the low-life politics..

    OBAMA 08!

    October 10, 2008 02:29 pm at 2:29 pm |
  20. Papasan in Arizona

    Stay on point, don't fall for Smear and Fear tactics of McCain / Palin, next stop White House! We need Vision, not division.

    October 10, 2008 02:31 pm at 2:31 pm |
  21. Kevin

    So much for folks who keep telling me "I like Obama but voting for him will hurt my small business".

    Obama '08

    October 10, 2008 02:31 pm at 2:31 pm |
  22. MD in GA

    If the Senator handles the economic crisis as he has his campaign, I think he might actually be able to help us thru this mess. Obama/Biden 08...

    October 10, 2008 02:31 pm at 2:31 pm |
  23. charlie in maine

    Chris Rock is right. Trust the guy with one house over the guy with seven. He will be looking out for us.

    October 10, 2008 02:31 pm at 2:31 pm |
  24. Tired of W, OH

    Good idea. I'm sure the right-wingers that always talk about Obama not doing enough for small businesses will still find a fault with it. How long before McCain steals the idea as his own?

    October 10, 2008 02:32 pm at 2:32 pm |
  25. mama4obama

    I'm not a small business owner so I will not pretend to know how this will work, but at least Obama has a plan and is searching for ways for the American people to get out of this economic crisis. All I hear McCain saying is give the fat cats more money.

    October 10, 2008 02:32 pm at 2:32 pm |
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