August 6th, 2010
01:55 PM ET
12 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. Frank

    Why the hell couldn't the "First Lady" spend the hundreds of thousands of dollars she is spending on her Spanish vacation here in the U.S. so that at least some people/perhaps small businesses would benefit from it? And who the hell is paying for 60 rooms at this luxury hotel at $400 a night for her security guards and entourage? Is this again the tax payers paying for this no good family that is milking the last of what they see is their chance at glory? Please someone tell these idiots that when the people are miserable and sufferring from a poor economy and many families can not even make ends meet, it would have been wiser to keep your showing off until after 2012 when you are no longer the First Lady! Yuk!!! Really Yuk!!

    August 6, 2010 02:58 pm at 2:58 pm |
  2. sonny chapman

    What's wrong with those small businesses, can't they make it like most Republicans made it: inheriting it !

    August 6, 2010 03:00 pm at 3:00 pm |
  3. DJ in TX

    So the GOP is stonewalling this legislation. They say Obama is job killing. What do you call the GOP on this one? It is a good bill from what I've heard. The GOP is always talking about small business need capital. Well , here's their chance to put the money where their mouth is. BTW – tax cuts would NOT create jobs in this economy. All it would do is put more profit in business pockets. The big boys, Dell, HP, Microsoft, Intel, IBM, etc are cutting people left and right. The little guys who have contracts with the big guys are not being squeezed out. The little guys, who may have relied on the employees of the big guys are being squeezed out. Tax cuts will do nothing for that. You want to "shrink" the size of the governernment, adding to the jobless. So tell me, how tax cuts will "bring" jobs back.................I've yet to get the answer.

    August 6, 2010 03:04 pm at 3:04 pm |
  4. carlos

    american middle class....go ahead and vote for the Games Over Patriotism party, that is the gop for you....and you will be relagated to the bottom of the bottom because they do not give s..t about you or me,........go ahead and vote for will get what you voted for.....NOTHING

    August 6, 2010 03:10 pm at 3:10 pm |
  5. Orlando Patriot

    This has been the problem with this Obama administration!! Selective assistance trying to "help" those Obama wants to succeed and "not help" those Obama does not want to succeed. Example: "help" GM and Chrysler Unions and not "help" GM bondholders. "help" small businesses but "not help" existing businesses. "help" green companies but not "help" big corporations.

    Sending these kinds of messages is DANGEROUS-DANGEROUS-DANGEROUS which we are already seeing!!! And you wonder why the economy is callapsing before our very eyes? Obama needs to "help" the economy PERIOD!! "help" create a business atmosphere where ALL businesses can recover which will create MANY MANY jobs!!

    Tell businesses their taxes will not go up for (say) two years, repeal Health Care so companies can anticipate their health care costs better, publicly inform the economy that taxes will not INCREASE due to Cap&Trade since it will be sidelined for (say) two years, and so on and so on and so on. Once business knows what to EXPECT then they can start hiring again.

    This administration knows NOTHING about how an economy works!!

    August 6, 2010 03:11 pm at 3:11 pm |
  6. Fed Up

    Obama has no idea how to help small business...or any other business for that matter, he has never had a real job his entire life and does not understand business...unless it is union controlled. We do NOT need loans, unless we don't have to pay them back. We need PERMANENT economic recovery, not fake stimulus with looming tax increases in the future. There is NO incentive for small business to grow and hire and we won't until our future is more 2012 when this anti business man is gone. Democrats are job killers, plain and simple. California is the best example of that, Years of Democratic control have run businesses out of this state. You would think they should be able to figure that out by now.

    August 6, 2010 03:13 pm at 3:13 pm |
  7. A Liberal with an Ivy League MBA ... that works in Industry

    With all the hot air out of the Republicans touting the supremacy of "SMALL BUSINESSES" in creating jobs .... why doesn't this bill ... which benefits them ... pass in the Senate by a count of 97 to 3 ?

    I'll tell you why ... because it was orginated by a DEMOCRATIC President ... who happens to be a black man ... and the GOP will stop at nothing to try to deny him credit for doing ANYTHING that helps the country.

    I'll bet they find a way to complain about stopping the BP oil well rupture. First they want small government but then ... when something goes wrong ... they want the US Government to DUPLICATE the capabilities of the oil industry. Next it will be the medical industry ... then the computer industry ...

    But when the President forces hard business decisions that save the US automobile industry ... that saves hundreds of thousands of jobs being shipped overseas to Hyundia .... and makes sure the US taxpayers are repaid for the capital injected into Detroit ... he's meddling in business.

    Keep your eye on the prize ... Mr. President

    August 6, 2010 03:28 pm at 3:28 pm |
  8. awaitingliberalizationbyCNN

    You wonder what kind of kickbacks for corrupt union executives, funding for corrupt public unions like the NEA, and money for Obozos, dope smoking followers are hidden in this bill that would ostesibly help small business. It is unfortunate, but after the simulus bill and this "summer of proseperity" I don't trust the democrats or this inept, corrupt, union toady president at all. They have and still are consistently lying about everything.

    August 6, 2010 03:29 pm at 3:29 pm |
  9. katiec

    If the republicans continue to block this bill, then they are continuing to dig theirsevles deeper into their sewer.
    It is way past time for them to stop their obstruction, games and start putting us and our country first.

    August 6, 2010 03:38 pm at 3:38 pm |
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