rssObama Promises Small Business, Local Government Aid
Friday, May 07, 2010 at 12:36 pm
- 54 Comments
This morning, President Barack Obama addressed today’s positive jobs report and indicated that while the recovery is real, it remains fragile. In the statement, he addressed two weaknesses in the employment picture: small businesses, for whom credit remains frozen and which have not picked up hiring, and local governments, which might be poised for layoffs this summer.
In his statement, he announced that the White House passed a long-awaited but recently drafted proposal to encourage small-business hiring to Congress this morning. Additionally, he signaled that the White House might take action to help local governments considering job cuts due to budget shortfalls.
[We] still have more to do. In my State of the Union address, I called for a $30 billion small business lending fund, which would help increase the flow of credit to small companies that were hit hard by the decline in lending that followed the financial crisis. And obviously small businesses are a major source of job creation.
This morning, we sent draft legislation to Congress on this fund, which now includes a new state small business credit initiative. This state initiative, which was designed with the help of governors and members of both the House and the Senate, will help expand lending for small businesses and manufacturers at a time when budget shortfalls are leading states to cut back on vitally important lending programs.
In addition, with state and local governments facing huge budget gaps, we’re seeing layoffs of teachers, police officers, firefighters, and other essential public servants — which not only harms the economy, but also the community and the economy as a whole. So we are working with Congress to find ways to keep our teachers in the classrooms, the police officers on the beat, and firefighters on call.
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54 Comments
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Comment posted May 8, 2010 @ 1:18 am
The country is falling apart right in front of Obama and he still doesn't get it. what you seen the people of Greece do yesterday is what will happen here before to long. people if you can start to stock up on food and ammo you better do it. when all hell breaks loss in this country Obama will have a lot of blood on his hands. This man has no clue how bad things are because they don't allow him out in the real public to see how bad things really are. He's proud to announce a jobs creation of 290,000 jobs in April but failed to mention the loss of 320,000 jobs in April and again part of that 290,000 jobs are part time census jobs. This lying ass of a president we got does nothing but lie to the American people about the economy and jobs.just another lying crook like the rest that's been there. The first black president and the first black failed president. Ya history and change what a joker!
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Comment posted June 1, 2011 @ 2:16 pm
The President’s proclamation states: “Our country started as an idea, and it took hard-working, dedicated, and visionary patriots to make it a reality. …..
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