President Barack Obama wants smaller community banks to ahve greater access to the government's $700 Billion financial rescue fund as the administration refocuses the bailout money on small businesses and homeowners and winds down programs aimed at big banks. http://www.foxnews.com/politics/2009/10/21/obama-expanding-bailout-small-banks-businesses/
Washington still doesn’t get it! You can help small businesses out with a financial rescue plan but it still creates additional problems in other areas. Washington professes to help small businesses in one breath, but in the other it passes or pushes legislation that is harmful to the business community. Right now small businesses are reeling from the credit crisis, the debate over health care reform and whether it will result in higher taxes as being contemplated by many in Congress. Climate change legislation being floated will harm the businesses community; even the Congressional Budget Office (CBO) stated that it would hurt the businesses community and have the opposite of its intended result. Washington keeps wanting to expand economic growth but then does everything it can stifle economic growth; maybe if more elected officials have ran a business instead of working in government they would know the difference in how to jump start this economy!
I think that they get it, in fact I think they know exactly what they are doing. They don't care about the economy or about our prosperity; they simply want the federal government to control as much as possible.
ReplyDeleteThey (BHO) basically own the banking industry already, plus they own the auto industry and they want to own all health-care next. They will not be happy until we are minions who have no choice but to completely rely upon those "who know best".
Whether they know it or not, the real problem is that small businesses are being raked over the coals and you will not see economic growth until small businesses feel that government will not hurt them by passing economic stagnate govermental policies.
ReplyDelete