President Obama cited small businesses as "the primary drivers of job creation" and called on Congress, especially the GOP, to tackle a bill aimed at improving the climate for such enterprises.
In his Friday speech from the White House, which came on the heels of news that private sector jobs had been created for an eighth straight month, Obama said the legislation should be Congress' first order of business when it reconvenes this month. Legislators, he said, need to "put aside partisanship and be the leaders the American people need us to be."
He directly accused Republicans of blocking the $55 billion legislation package. Senate Democrats are hoping to OK the package and get it to the president's desk well before November's midterm elections.
Among the provisions in the bill are loan enhancements that would double what small business owners can borrow to expand their companies, as well as billions in tax-cut extensions.
"It is paid for," the president said. "It will not add one dime to our deficit."
Obama said it took years to create the country's economic problems, and it will take years to right them.
He said, however, that he wants "all Americans to remind themselves there are better days ahead" and that the United States remains the world leader in innovation, discovery and entrepreneurship.
"There's no quick fix for the worst recession since the Great Depression," he said.
There are signs the economy is improving, though. He said August saw 67,000 private sector jobs created, while official July numbers indicated 107,000 private sector jobs were created.
In contrast, the latest unemployment numbers show joblessness rose from 9.5 percent to 9.6 percent last month, and the economy lost 54,000 jobs overall. The job loss was attributed to the decline in temporary Census Bureau positions.
To "break the back of this recession," Obama said, more steps are needed, including the small business legislation, extending tax cuts for the middle class and directing investments to areas where job-creation potential is the highest.
The House's No. 2 Republican, responding to the unemployment numbers prior to Obama's speech, said the report shows "the American economy still has a long way to go."
Rep. Eric Cantor of Virginia had a starkly different outlook than Obama regarding the measures being taken to resurrect the economy.
"The policies being pursued by the White House and Democrat leaders in Washington continue to create uncertainty and fear that is inhibiting productivity, innovation and job creation," he said.
The president is scheduled to give two speeches next week in an attempt to frame his administration's response to the recession.
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I'm beginning to believe we don't need them. They are costing us too much and doing nothing.
Yes let's encourage small business to create jobs because there's no way to stop big business from sending them over seas. Greed is unchecked and unstoppable. Why support the people in the country that made you wealthy if you can add a few more dollars to your already incredible fortune.
Creating jobs will help a little. Why not stop catering to big multinational corporations and BRING THE JOBS BACK.
Raising Taxes? I have noticed that he has been and is talking about raising taxes on the rich. You let George give the Rich a tax break while the economy was heading south. But you fat cats are good at twisting things by saying that everyone was going to get a raise on taxes. You screwed up the economy 8 years ago, and kept it that way so that Obama would be hurt. When you were in power there was no regulation on you Fat Cats. Now you have teamed up with big business who don't like regulation, take Obama down. I see it and you know it. I hope you remain in the minority.
I wish he would make up his freakin' mind. Stick it to small business although as a group they are the largest employers, or help them? Whatever. 2 years down,,,,2 to go is all I've got to say.
Brian: You say you declared bankrupcy 11 months ago, so don't blame Obama. You, of all people,should know, this economy has been on the skids for over 2 years, thanks to Bush's war in Iraq. None of the war costs were paid for, and we did not have to have it that way. Tax cuts for the rich and job cuts for the poor and middle class. That's what we got under Bush, and if Americans think the Republicans have a better idea I'd like to see it. Wake up folks, President Obama is doing what he can, but he needs support of the American people and Congress. Don't buy the hype. Elect responsible legislators who will work to get this country back to work and establish peace in the world. I am very proud of Prez Obama, and I think he needs to continue to talk truth to the powers that be and they need to step up and d what's right for America. Start hiring and spend all that money that's being hoarded by Corporate leaders attempting to influence the political arena, for their own personal benefit. Be honorable Americans, think country first, like our troops!
How about making the large corporations keep jobs in the good ole USA. I hold my breath everyday because areas all around my job are being shipped over seas because of cheaper labor. Absolute greed. I am thankful everyday for my job – because they are telling our managers to "find ways" of getting jobs overseas. I am so disgusted. How is the economy going to be stimulated when no one has a job to buy anything? This country has been @$$ backwards for far too long.
Create new jobs in Washington DC, totatlly rid ourselves of the GOP and it's roadblocks. It's time to say NO NO NO to the GOP.
Not ALL his fault............Obama is not an effective President but he is trying to find his way through this jungle that a couple of other Presidents have caused.....he inherited a lot of problems..........I feel sorry for him although I did not vote for him..........he has aged considerably..............we need to support him as much as possible because he is the only game in town at this time....................
President Obama , now you are really doing the right thing, please push the Gop to do the right thing and help America, if they do'nt want to be part of fixing this country let it be, Domcr can go it alone and get things done, small business is the way to fix the economy, also please double check the mortgage issues with the banks no help even for the working families now whom are now working? now that we have work the banks don't want to fix our lone, wow!!?..<///???
I agree, we need to abolish it and start anew. The problem is america would shatter into millions of small pieces, a DIVIDED NATION. Unfortunately, Americans can never see eye to eye. You want to know what we all need to overcome is the divisive nature, is we first need to think of ourselves as the same one thing, an American. The biggest hurdles will be; RACE (Black, White, Orange, Brown, Yellow, Red... it doesn't matter what the sun and stars have colored us). RELIGION (We all share one creator! Over our human existence, the leaders have altered the true stories many times. Why? Through lack of true understanding of that one message the creator has left for us, or for reasons of controlling the masses, good and bad. Just accept that everyone shares the same god, and none of the bibles that have made it this far are 100% correct). POLITICAL PARTY (They are exactly the same, and used to divide us. They push issues that purposely provoke one side or the other, strategically turning us into us weak, infighting, fools. They both abuse their powers and do as little as possible, while padding their pockets, and helping out friends, family and whoever they can to keep their seat. Just enough is done to suffice, and keep the american public at bay). Just try to put it in perspective, you are american, our founding fathers set rules for us, so freedom and liberty would survive all attacks. We owe it to them, to not let it slip through our fingers. They witnessed what is happening now, first hand and beat it. They knew banks and big money would do try to do it again. After their last defeat, they regrouped, plotted, and moved so slow, entire generations couldn't see their moves. Like a noose sneakingly, being put around our neck's, once the noose is under our chin, it isn't coming off, and you know what comes next. Time to open your eyes America, our taxes pay them, we employ them, if they are failing us, we need to replace them. We need to exercise our right, and ha to a peaceful revolution,
Yes people like you are a burden to our economy and should be removed.
I agree, we need to abolish it and start anew. The problem is america would shatter into millions of small pieces, a DIVIDED NATION. Unfortunately, Americans can never see eye to eye. You want to know what we all need to overcome is the divisive nature, is we first need to think of ourselves as the same one thing, an American. The biggest hurdles will be; RACE (Black, White, Orange, Brown, Yellow, Red... it doesn't matter what the sun and stars have colored us). RELIGION (We all share one creator! Over our human existence, the leaders have altered the true stories many times. Why? Through lack of true understanding of that one message the creator has left for us, or for reasons of controlling the masses, good and bad. Just accept that everyone shares the same god, and none of the bibles that have made it this far are 100% correct). POLITICAL PARTY (They are exactly the same, and used to divide us. They push issues that purposely provoke one side or the other, strategically turning us into us weak, infighting, fools. They both abuse their powers and do as little as possible, while padding their pockets, and helping out friends, family and whoever they can to keep their seat. Just enough is done to suffice, and keep the american public at bay). Just try to put it in perspective, you are american, our founding fathers set rules for us, so freedom and liberty would survive all attacks. We owe it to them, to not let it slip through our fingers. They witnessed what is happening now, first hand and beat it. They knew banks and big money would do try to do it again. After their last defeat, they regrouped, plotted, and moved so slow, entire generations couldn't see their moves. Like a noose sneakingly, being put around our neck's, once the noose is under our chin, it isn't coming off, and you know what comes next. Time to open your eyes America, our taxes pay them, we employ them, if they are failing us, we need to replace them. We need to exercise our right, and start a peaceful revolution. it starts with practicing our 1st amendment right, and spread the message, start trading more with your neighbors, band together and grow communities. United we stand, Divided we fall.
Isn't this what he said about the Health Care bill (deficit neutral)?
If I have learned one thing about this man, it is that his rhetoric rarely matches his actioons. Please remember this is the same person who said he would allow the health care debate to be televised by C-SPAN when he was campaigning for its passage, but when it came time to follow through with his promise, only members of his party were invited to the behind closed door meetings where the bill was written.
Your right. This is all politics. He has never cared about the private sector,just the govt jobs and unions. His mind is on amnesty and cap and trade. This is all talking points for the democrats i November!!!
Wow, doing stuff to the detrement of small business for 18 months and now, two months from an election all of these great little moves. Ya, this is a different kind of policitian.
I think this bill has been bouncing around in congress most of summer... being held up by the usual BS!
This is not new. This has been in the works for at least a year.
When Obama tells you "It is paid for" "It will not add one dime to our deficit." you can bet money he is not telling you the truth.
I almost laugh when the fact is he has been doing all in his power to hurt small businesses since coming into office, and when he knows his party is about to get a beat down. he uses the blame game again and hope voters will forget it is his party that is to blame for our poor economy. Obama is one huge Ignorant twit.
I agree with you, too little, too late. My business filed Chapter 11 two months ago. I wasn't able to qualify for any loans prior to that after 2 years of being beaten down by the economy. We need real assistance or just for get it and don't ding the deficit any further.
...yes the usual BS being the party of "NO"..
This is a joke anyway– small businesses are great for the owners of the businesses, more power to them, but they provide minimum wage jobs for the people they hire. They are not the jobs we need. We need to look long and hard at the trade agreements we have signed since the end of WW2. 65 years of giving away not getting back.
I don't believe that bigger loans and more debt will help small businesses. They need tax relief. As it is now small businesses pay 25 to 30% even if you only make $1000 profit.
Totally agree with your comment Ben, he let the biggest lender to small biz fail (CIT) and now that elections are here he wants to talk about help, voted for him, won't do it again
Ben, what has President Obama been doing for "18 months to hurt small businesses"....? I don't understand how everyone seems to just repeat talking points...but I haven't seen or read about one bill the the right has put forth to help out people who are hunting so badly....
The world economy and the U.S economy was on its kness, Obama has managed to lessen the worst ever depression" the world economies from N. ans S.America, Europe, Middle East, Africa, Asia" the entire world would have faced, he has single handedly "put food on people's plate's all over the world", saving the $ which is the currency traded in all blocks of economic atmosphere, and for "you "to always cricise what this briliant man has done to save the world, by claiming and always putting down down every action this man is tryng to do, to better the life of "americans" and the world, if the GPO was not part of congress right now, imagine how all economies around the world would and have bounced back more than it is right now, always complaining citing negative forums and blogs that are not helpning anyone but just a means of showing ignorance to the fact the world right now is a much better place..considering how low we had sank, not america but the world...which was yes brought about by a GPO govt that spent $ on a war that "all" of us know what its about..the same dollars that brought the economies down, but made billionaires of a few...yes we can!!
right, isn't it nice, after 18 months in, despite a huge divide in this country, saw reforming heatlh care as a top priority in the midst of the greatest recession since the depression. NOW he finally realizes the first priority is job creation? still wondering who's lap the bill for health care reform will fall on................well not really............. taxpayers. Yeah, you better get us back and working or they'll be no one to pay for it.
Ben, if this President is such a detriment to business as you and many Republicans claim, then why have businesses continued to add jobs for the last eight months straight?
Ben: Prez Obama passed the health bill to help small business. He hasn't been doing nothing, as you pretend. It's your Repugs who have done nothing to help. Just saying no and criticizing every legislative attempt to spur the economy is what we've been witnessing from Repugs. Tea partiers are no better. Liberty my a_ _! To tea bagers, liberty means just say no. No affordable education, no affordable healthcare, no Government help to industry, no amnesty for immigrants, no peace for Muslims, and no diversity of opinions. I look at how this country has marginalized former Prez Carter (a good, decent, caring American) with slanderous accusations of incompentence, when the truth is his call for human rights in the world was the clarion call of our time. Yet, Americans were led to believe we couldn't lead the world to do what was right because of our past sins and too many of our leaders were corrupted by greed. We paid the price on 9/11. And, thanks to Bush and alot of other wrong headed war mongers we will continue to pay for our misdeeds for years to come. Let's just hope that Prez Obama earns that Nobel Peace Prize and is able to steer us thru these muddy international crises. God forbide we elect more Repugs, who would only ignite more fires of international strife, fear and intimadation.
ONE QUICK QUESTION BEN, i am wholly behind u and the the proposals u have put down
1. all governments around the world operate from the tax they collect – number 1 corporate tax, biggest contributor
2. the amount of salary an average worker in US would want compared to foreign workers, thats why the "big companies" not would, but will, produce goods overseas coz its cheaper, one good example, dont quote me, printing paper is cheaper to import from east asia, and N.W america has the most bountiful and better quality trees for that, but?, destroy ur forests or, let the "dumb"countires do that and get cheap paper??
3. from the french revoltution to many others am sure u know, its all about the social agenda, the less we have the more vocal we become, the gobernment should be taking care of the people who put them there
4.healthcare for everyone, do u really say thats a bad policy?
and.US is still a super poer and will remain a superpower,,ur reserves,,,and am sure u know this..gold and oil,,,makes the N>America the richest continent on earth,,the reserves u have ....figures fluctuate yearly..
not a democrat, or sarah palins pal..
please dont vote for her!!
;
I agree Ben. Although there is no excuse for incompetence, Obama tried with the two statements below:
Obama said it took years to create the country's economic problems, and it will take years to right them.
"There's no quick fix for the worst recession since the Great Depression," he said
Well one way small business could help it's self is not support, or employ illegal aliens or people without valid and verified social security cards. Stop the retainment and services of lawyer's that represent the illegal immigrant communities this includes the immigrant "medical" industry which receives much revenue from the workmans compensation claims that are filed against small business that increases healthcare for legal americans.
Hey buddy, Focus on your own party rather than the GOP. It's your party that is blowing it.
Explain that one please. Seems to me President Obama and the Democrats want to end the recession but the Republicans want it to continue because then they can say that President Obama has done nothing, when in reality it is the Republicans who have done nothing. And the very fact that they would hold back to the detriment of the American people, and for their own benefit tells us who they are working for; themselves, not us. Vote all Republicans out in November.
The stimulus did help. President Obama had to because Bush left us in a mess it was the only way to get out. But if you watch the republicans governors ,they are going on about the stimulus not creating jobs. But going out and putting their names on the checks, and the sad part is people are stupid enough to believe them.
Get your white sheets out...sounds like somebody hates people of another color!
Temporary tax cuts are nothing when a business is staring down the barrel of ObamaCare implementation, cap and trade being pursued, union card check still on the table, permanent tax rates being increased, and no end in sight for the anti-business policies of this administration. Businesses thrive on certainty. There is no incentive to invest in expanding a business if the business can't be sure that the goods or services resulting from the expansion will have a buyer. Instead of providing temporary tax breaks, simply stop the anti-business legislative agenda.
I agree. The Dems have no excuse. They control both the house and senate, as well as the white house. They have the votes to push through anything they want (health care, stimulus) so to point the finger on the GOP holding this one up is absurd. Just a political move before the upcoming election.
That is the very thing Obama does not wish to have reported. Since 06 things have been getting worst and it was right after the Democrats took over the house. I cannot understand how most Americans refuse to believe these facts.
With Obama all you got was a lot of HOPE, without any real CHANGE!
Obviously no shortage of Ignorance on the GOP side!!! Why is it that the loud mouths don't stop and look at where the mess started, are they that afraid of seeing themselves? If you don't get a loan, it's probably because you can't show you can PAY IT BACK!!!
You are correct. Just think if people would have listened to NO. We would be billions (almost trillions) less in debt right now. The so called party of yes has yesed us to death. What do people think will happen if it continues?
Why does Obama blame the GOP?? Last time I checked he had MAJORITIES in both houses! It is absolutely laughable that the Dems have trouble passing legislation given their majorities. I believe the Dems are standing the way of the Dems. This ought to be a wake up call to everyday Joe Democrat. If Obama had policies that were even half way good he would get them passed because he owns both houses. He can't get his own party to go along with him. = FAIL
@Hannah
You need to explain why your president and his party are spending trillions of dollars and were getting nothing to show for it?
Why your president and his party shoved a healthcare bill down the throats of Americans when they did not want that bill passed? How the bill was going to save money and yet it is costing billions and not giving any one service until 2014?
I also would like for you old wise person to Explain to us why Obama needs any votes from the Republicans when for the last 18 months he has shut them out of every meeting his party makes?
No Hannah the real person to blame for the detriment of the American people points to Obama and his party. That is why they are going to take a beat down at the polls in two months from now.
The American people understand Obama and his party is the real detriment of the American people and no matter how many mindless liberal fools like you they will not get enough votes to stay in power.
Therefore, Hannah say goodbye to your Liberal Democrat party because the American people have woke up from that feel good Hope and Change crap and found No Hope and Not One Bit of Real Change!
To those guys who say, "Stop blaming Bush" I say:
You remind me of a teenager who took the family car on an unauthorized joyride. He got the brake mixed up with the gas pedal and he drove the car through the back wall of the garage, through the neighbor’s fence and it now sits – totally underwater – in the neighbor’s swimming pool.
His father says to the boy, “Look at the mess you made! Do you realize how long it’s going to take to fix all this and do you realize how expensive it’s going to be?”
The teenager replies “Wait a minute! Don’t blame me! This is all YOUR fault for leaving the keys where I could get them. Also, we’re talking about ancient history here. The car is now YOUR problem, not mine! Don’t shake your finger at ME!! What has happened in the past cannot be changed! I know you don't like it, but no one ever said life was going to be fair!
"What I want to know is this: how are YOU going to get me to school tomorrow? There’s an important pep rally I absolutely cannot miss! And don’t think for a moment that I’m taking the bus. I’d rather die than take the bus!”
So many of you guys are severely uneducated. First off, it doesn't matter if he has both the house and senate. The Republican's have filibustered every single one of Obama's bills. What that does, is prolong the discussions and it keeps other bills that could be beneficial to this Country off the floor. And they do it with out negotiating or with out any effort what so ever to come to an agreement. And I know you guys won't believe it, because you are blinded by ignorance, but trust me when I say, that Obama has been incredibly center-right on his policies. You guys don't know what socialism is if you think Obama is a socialists.
@BettaRecognize...I've read through a bunch of these comments and don't see anyone playing the race card but you. Just because we disagree with a biracial president's policies doesn't make us racist.
What happened to bipartisian. The Republications have made a decision not to cooperate with the President, AND THEY ARE DOING A GOOD JOB OF IT ! The GOP is being contrloled by thugs who don't care about anything except what lines their pockets with money. BIG BUSINESS. But you and others have verified what would happen to a black President in America, Abuse, Abuse & Abuse. I said that this would happen in my conversations with other races, but they said I was wrong.
In response to Hannah and all of the others blaming Bush and the Republicans.
Are you serious thinking that this is the Republicans fault, come on people think please. Let’s look at some facts, the entire Iraq War cost less over eight years, $702B, compared with the $852B stimulus; based on what I have seen has done nothing to stimulate economic growth or create jobs. The highest deficit with Bush and the Republican Congress $290B, Bush and a Democratic Congress $490B, Obama and a Democratic Congress $1.4T. Unemployment was at 4.9% before the democrats took over in 2007 and dropping, it is currently at 9.6% and rising. How do higher taxes, which are coming for small business next year going to help small businesses, and how is that when Republicans controlled both the Congress and Presidency it was their fault for everything and now that Democrats control both it is still their fault. I have heard several good ideas from Republicans, but our narcissistic, ideological President doesn’t want to hear them.
"Joe M.
Temporary tax cuts are nothing when a business is staring down the barrel of ObamaCare implementation, cap and trade being pursued, union card check still on the table, permanent tax rates being increased, and no end in sight for the anti-business policies of this administration. Businesses thrive on certainty. There is no incentive to invest in expanding a business if the business can't be sure that the goods or services resulting from the expansion will have a buyer. Instead of providing temporary tax breaks, simply stop the anti-business legislative agenda."
You just listed a long list of nonsense about things YOU are saying. Not one thing you mentioned actually changed anything. All the fear and uncertainty is coming from people like you on the right. You have no real point so you attack about how people might react to the situations that have not even happened yet. The GOP spreads this fear mongering and lies by getting fools like you to mindlessly parrot back their talking points without a moments thought, We get it you Hate America enough that you activly work against it so the Republicans can get into power. Then what? Make sure you register your children with selective service for the next republican surge!
FAO Jan and Bush haters: The reason Obama and the Democrats spend so much time blaming Bush is because they are incapable of fixing the economy. Your team needs to step aside just like any failing CEO if they can't fix the economy. It's that simple.
I'm confused, on CNN (TV) they report 3rd straight month of job losses, yet here we see eight months of creation.
So which is it?
I hear and read the words, but a quote from Starwars comes to mind, "the ability to speak doesn’t make you intelligent"
Dave, 8 straight months of job creation in the PRIVATE SECTOR
Dave, Dave, Dave – you must read a little deeper into the report to find your answer. The 8 months of job increases are in the private sector (67k AUG). You have to offset that with jobs lost in the government sector. There's your net job loss (114K AUG).
Shouldn't this report make Bonner and his boys happy? They've been whining about too many (unemployed) folks getting high paying government jobs and not private sector jobs. You would think all parties would be happy that at least these folks are getting freaking JOBS!
Research the difference between private sector and public sector jobs
The Jobs are being moved overseas as quick as possible, by big businesses who want no regulations.
No Nate the jobs are being moved overseas, because we have one of the highest capital gains tax rates in the world. This along with union and governmental interference, especially with this new “financial reform” bill (created of course by Dodd and Frank, the architects of the sub-prime mortgage crisis). There is no incentive for big business to stay and small business just cannot leave. Between 2003 and 2010 it is at 35%, in 2011 it is set to go up to 39.5%. Argentina, 9%, Iceland 18%, Netherlands, 4%, unless they are green initiatives, then it is higher, Norway 28%, India 15%, where are a lot of businesses going India, Argentina, get the picture as to why.
The losses are government jobs and gains are in the private sector. The government foolishly reported gains for the temporary census jobs to pad the numbers and now that those jobs are no longer needed, they are reported as losses.
In Obama's Friday prayer:
"It is paid for, It will not add one dime to our deficit." How many times have we heard this deception in the past two years?
EXACTLY what I thought – New nickname – 10 cent president
To kevin John Gil, god you guys are good at "coining" phrases, slogans. Too bad your party can't govern.
Actually, I haven't heard it once! Take a little initiative and investigate these announcement instead of taking the crap the media feeds you as the truth!
You probably want to read up on how federal government establishes budgetary requirements and allocates funds. –if he says it doesn't cost a dime the question you need to ask is "where is the money coming from and where was that money going before you reallocated it?"
What about:
Health Care Reform Won't Add "One Dime" To Deficit.
Climate and Energy Bill would not add to deficit.
Social security does not add to deficit
$26B state aid bill will not add to deficit.
to name a few
Haha...no kidding, he says that about every major bill he puts through. OK...I'm proud Obama, you have obviously pulled money from Medicare or Social Security to make it deficit neutral. TRY CUTTING THE DEFICIT you twit!
you guys are all stuck on this sticking point it won't cost a dime or whatever, is it just me, or would I deficit be a whole heck of a lot smaller if we hadn't gone to Iraq? I mean if you are going to talk about spending, look at the two wars we are in right now...i venture to guess that millions were/are spent each day we are overseas. I mean if you are going to slam Obama for spending, think about the 9 years we have been in Afghanistan( for the record I do agree with the forces being here) and 7 years we have been in Iraq (Still disagree we should have never put our nose in that mess), you add up how much money we spent over those years in countries that very well may still hate us after we leave and you cannot just blame Obama for "useless/reckless" spending
I did the research. This bill is paid for by axing subsidies to 5 of the world's largest oil companies. They collectively make $100 billion per year in *profit*, 6 billion of which is given to them by the US Taxpayer. Furthermore, the Republicans insist on adding an amendment that would lower their marginal tax rate from 39% to 35% PERMANENTLY. Nevermind that the effective rate for a company like Exxon Mobile is ALREADY ZERO. They paid ZERO income tax to the UNITED STATES for 2008 and 2009. And you and I gave them 6 billion dollars for nothing...
So its no wonder Republicans don't want to pass this bill. And yet they have the nerve to call Democrats "socialists."
This bill is supported by the U.S. Chamber of Commerce and the National Federation of Independent Businesses. Mitch McConnell actually called them up personally and asked "WHAT ARE YOU DOING HELPING DEMOCRATS?!"
Ya wanna vote Republicans in November? Fine. But know what you're paying for.
Yes, that is exactly the problem. The "not adding to the deficit" is always financed by something which already will be spend for something else when the rubber hit the road and everybody have forgot about the promises.
You are getting it all wrong Obama,.. All you have to do is announce that you don't like the Small Business Bill,.. and republicats will surely get on the opposing pole,.. and there you have it a perfect Bi Partisan bill.
GREAT IDEA!!!! and tell them you dont want to legalize pot tooo while you at it...lol. hahaha
Brilliant suggestion. Why has no one thought of that before. "Don't throw me into the briar patch."
Reverse physcology – I've been thinking that for a while on about every thing Obama tries to do. I really think that would work! GNoP GNoP GNoP!
Obama is a step closer to understanding this. What really creates jobs is startups. The primary financial necessity for startups is not loans but investments. What we need are changes in the tax code which encourage investment (investment tax credits) while discouraging the deployment of assets in activities which create nothing (high frequency trading, for example). Creating jobs is about redeploying capital. The government must change tax codes so that investors cannot afford to not invest. (That's a bit "sloganish" but is the crux of the idea.)
Who creates the real jobs? Who is the nations largest employer? It's small businesses. I know you libs don't want to hear this but the people that make over 200K a year ARE the people who create jobs. It's just that simple.
The government cant create a real job because they have to TAKE the money from somebody else (who in turn cuts costs, and therefore jobs to make up for the loss)
NOTHING is going to get better until congress quits spending OUR money on government pet projects and buying votes. When they allow the tax cuts to expire later this year it will amount to the LARGEST tax increase in the nations history. Facing a lousy economy and a massive tax increase how in the world is a business going to create a job?????
BTW, the new "surge" that obama is going to promote today is just the same stimulus package but they've renamed it because they know that the American public in on to their BS. Stimulus = giant shell game and the public always loses.
Liberal taxing and spending has to stop or it's only going to get worse!!!!!
Certainly are not a learned person,.....The bush TAX CUTS did not create any single job, go check the records. Small business drives economies the same way middle class drives spending....Its not rocket science a few economic classes could do the trick
Thanks for the comment Sky. I actually OWN a business with around 25 employees. I'm also proud to say that even in the current economy I've not let anyone go, but I'm not about to take on more employees until I know that the government is going to stop hammering me at every turn. What do you do?
You're not taking on more employees because there is no more demand for your product. You would be violating capitalism 101 if you are sitting back "waiting" for what might happen.
Ok – explain this then. Where do we get the money from? You don't want to raise taxes or let current tax cuts expire to pay for it. You don't want to take from programs or cut programs to pay for it (unless of course it's a program the Democrats support and then it's fair game). What's your solution? Print more money?
It's disgusting to hear Republicans talk about the deficit. If memory serves me correct, Clinton left office and we were in the good. Bush takes office and within 8 years, we have the largest deficit ever. Now Obama is in office, trying to clean it up and the Republicans want to call him fiscally irresponsible? That's almost laughable.
Republicans are the party of "no" for a reason. If it isn't their idea, it's wrong.
Hi Allen,
Just a quick question, how does your personal income of >200k affect your business money flow? How would additional personal taxes affect your business? I assume you keep those separated? I might be wrong though...
Allen, kudos to you for not letting anyone go! Since you're a business owner, please explain, with a little more detail, how the government is hammering you at every turn. I'm a small business owner as well and I must be missing something?
Absolutely correct, Paul. Any tax break Paul's small business would receive goes first into his pocket to re-pad his wealth which has certainly been affected by this disastrous Bush economy. The next portion should (but probably wouldn't) go to his 25 employees who have certainly taken cuts in pay or not received deserved increases because of the same economy. It wouldn't be surprising to learn that his employees were asked to take a few furlough days during the year as well which would perhaps be rescinded with a tax break. Only if, and when, Paul and his fellow corporatists realize that running a business on a shoestring margin does not support long-term feasibility will the economy change. There has never been, and never will be, jobs created due to tax breaks. Business owners are too greedy to give any of that money to someone else. If the expiration of the Bush tax cuts will result in the largest tax increase ever (I doubt that's true) then the simple enactment of them must have resulted in the largest tax cuts ever. We should be swimming in jobs as a result but unfortunately we're not.
Use your heads and stop completely underestimating the power of incentives. Lets talk about the real world, not your idealistic utopian fantasy. Small business owners are motivated to expand their business in order to profit. If a business owner is already at a comfortable income level, tax breaks will make a huge level in his motivation to risk his own wealth in order to expand his business. Why put forth the effort and risk when the marginal tax rate is so high (not to mention red tape that is much harder for small businesses to deal with) ?
@Sky – It's you who needs to take some economics classes. It has been shown time and time again that increasing taxes kills business. WHY? It's simple – the more money goverment takes the less a business has to grow it business or suvive in tough times. Look up the Ireland example. It was well below the UK living standards until the late 1980's when the dramatically cut taxes and business growth exploded so that by 2000 Ireland surpassed the UK in living standards. The government actually collected more taxes because some many more people were employed and business had to hire workers from overseas to keep filling jobs which also created more tax payers. ITS SIMPLE – LOWER TAXES = MORE MONEY FOR BUSINESSES TO GROW = MORE EMPLOYED TAX PAYERS. Many Democrats just do not seem to understand basic economics.
@BoatBumper... exactly!! Tax raises on big business would be the best thing for the middle class. Big business would have two options. They can lower the margins of profit they receive while maintaining the same employment level. Or they can raise their prices, reducing demand, allowing for middle class businesses that can cut some of the overhead costs to start competing. Capitalism in it's nature would correct a rise in taxes. People need to realize one fundamental fact of life! JOBS ARE CREATED BY DEMAND... NOT SUPPLY!!
@Sky
I've many economics courses via my business degree. Taxes need to be fair with incentives for hiring. What stimulates growth is spending by consumers. That's called "demand.". Once manufacturing is encouraged and America makes stuff again, the well paying jobs will return.
Btw. Ireland is absolutely tanking in the presence of their tax policy. Not a great example
Sky ... You certainly are not a "learned" person. Before the Democrats took over, unemployment was at 4.9% and dropping and this was after 911 and two wars. The wars cost less from 2003 to 2010, $702B than the stimulus from 2009-2010 $852B. Bush spent more on education spending each year than on the war. Reagan managed to cut taxes and had a private sector job growth average of 1.64 M, 21 M total, how much has Obama had, not much. Lost more than we have gained.
Hey Geocide, if you remember correctly, Congress controls the purse strings and during the first two years of Clinton, deficits were going up, because, once again like now, a Democratic President and Congress. The Republicans took over and forced a balanced budget on Clinton, hence why everything thinks he did it. No sorry it was the Republican Congress, Clinton was too busy dealing with his female problems.
@sickandtired... sorry buddy but you are definitely not "learned" in economics. Your ability to not understand how an economy can take decades to respond to changes makes most of your points mute. And the majority of your examples either make no sense or are simple logical fallacies. So what happens in the short term when you cut taxes on the wealthy by 50%? They spend "x" amount of that return and keep "x" amount. That happens over a period of time and eventually they start saving more and more and spending less and less. Right now we have the worst GINI rate we have seen since the 1920s right before the Great Depression. If you don't know what that is, it is the calculation of the distribution of wealth in this Country. We are in a very dangerous situation right now, and another tax cut on the wealthy can very well lead to another Great Depression. Please go read some books.
Geocide where does the money come from you ask, well here you go basic economics. Lets take business first. You lower taxes on business they have more money to invest in their businesses; this includes hiring new people and growth. Now these businesses have the ability to hire you add more tax payers into the system, thus creating more revenue. Now for lowering tax rates for all classes, they have more money to spend, buy houses, cars, and other items, this creates more demand, which in turn creates more growth in the business sector, which in turn adds more money to the business to hire more people and grow, thus adding more tax revenue.
What happens when you tax. What is happening now, people don’t spend, businesses don’t invest or hire, revenues are not coming in, which means no economic growth from tax revenue, which means the government will want to tax more. Get the picture.
Paul – I have been “reading the books” and I do have quite an excellent understanding based on my MBA, so here you go “buddy.”
1. Congress controls the purse strings (we know this)
2. Reagan inherited a worse economy and situation than Obama, a 70% tax rate, double digit unemployment, and other issues, such as the cold war etc.
3. He lowered the tax rate to 21%, remember we are currently at 35%.
4. Okay, with that said, he was a strong believer in the small business owner and his tax cuts led to the largest period of economic growth, 1.64M per year average, 21M total. He also double revenues to the government
5. Reagan had to deal with a democratic congress who spent those new revenues at a rate of $1.73 per dollar received, hence the high deficits.
6. Clinton took office and those deficits began to skyrocket.
7. In 1994, the Republicans took over and balanced the budget
8. Bush and the Republicans only had a high deficit of $290B
9. Bush and the democrats had a high deficit of $490B
10. Obama and the democrats high deficit $1.4T and are continuing to spend like it is the 1930’s, remember FDR’s policies did not get us out of the depression, WWII
sickandtired you are factually wrong. In 1980 the unemployment rate was 7.1% That is what Reagan inherrited. in 1981 it grew to 7.6%, 1982 it grew again to 9.7%, 1983 it was at 9.6%. By the time he left office in 1988 we had the second highest deficit in history at $252 billion and the unemployment rate was 5.5%. this data can be found at the Bureu of Labor Statistics and the Department of the Treasury.
Sickandtired, let me further discredit you. The Deficit when George H W Bush left office was $399 billion. That was 1992. Clinton’s first year 1993 deficit was $347 billion, 94 it was $347 billion, 95 it was $281 billion, 96 it was $281 billion, 97 it was $188 billion, 98 it was $113 billion, 99 it was $130 billion 2000 it was $18 billion. Data can be found at the Dept. of the Treasury. Not Fox News
Better idea, legalize pot, create 123123 new local businesses, increase tax revenue ?? profit!
Decrease non-violent drug offenders in prison(less taxes spent housing them) ?? profit!
We all win.
im wit ya
while it would take away about half the business of mexican drug cartels – too many people would grow it and avoid paying the taxes – it also would cost states, townships, municipalites, police, the DEA, state police, judges, etc billions of dollars in money they make busting people – it might even put people selling it illegally to make ends meet out on the street – why give the government more money to waste?
In my state of Wisconsin it is the Liberals who have controlled this state that have destroyed our businesses.
We continue to see job after job leaving our tax hell state. The best thing Obama could do to help small business is to get he and his croanies out of the way. Small to midsize business is what powers this nation. Obama and his tax and spend croanies continue to hinder business. Everythign they touch they wreck! Look at Wisconsin as proof.
I still think Wisconsin is awesome.
I thought Wisconsin seceded.
The policies of this President have proven to be a failure and is killing small business. Stop the spending!
What are you taking about? If you stop spending, then the economy hits a brick wall. You can't just stop. Use some common sense.
You Republicans weren't hollering that when Bush took us to an unjustified war, etc.
Spending has nothing to do with our current economic mess. You conservative idiots need to go to college and learn basic econ 101. So embarrassing when people spout off pure nonsense!
Oh man, so sorry....I just noticed your typo....you said "This President"....we all know you meant the LAST president....thanks for nothing W.
"It is paid for," the president said. "It will not add one dime to our deficit."
Best oxymoron ever.
If the President wants the country to get better..he must stop lying. The only way an economy can work is if we quit pretending Free Energy doesn't exist. It's been around for decades back when Nikola Tesla and William Reich invented the Lightening Rod/ Orgone Energy. We cannot play this fake game with Oil it is Deadly and and everyone now knows about free energy. Check out the Disclosure Project with Dr Steven Greer and the Venus Project. Free Energy will be introduced to the public soon, but the faster you wake up to these facts, the faster it will happen.
This President is saying it's the GOP that is not cooperating on passing this bill. Hello!. If he has a majority in Congress then he should be able to pass just about anything. The problem is, his Dems are not voting for it. So he blames the GOP. He speaks with a forked tongue.
Actually, the DEMs are voting for it, Many of these bills have already passed the house but are dying in the senate because of the filibuster. You need 60 votes to break a filibuster and the dems have 57 (2 independents in the senate). So they always need at least 3 extra votes because anything of substance has been filibustered.
Unfortunately if this is the way the Senate is going to be run in the future, don't expect much to get done by either party.
(except for the really easy stuff)
Hello Lobo and others who don't know how Congress works..... You must know that in the Senate, the Republicans are filibustering almost every bill. This means it takes 60+ votes to break the filibuster and pass any legislation. The Democrats do not have 60 votes, only a simple majority. Yes they have majorities, but not super-majorities.
That is how a handful of Republicans can block anything.
To everybody who keeps insisting that the Democrats are getting nothing done despite their "majority" – a majority doesn't do you much good when the other side is engaging in a perpetual filibuster. At this point you need 60 votes, not 51, in order to pass anything in the Legislature. That is why people have been calling the Republicans the "party of no."
The depressing thing is that the Republicans actually don't want the economy to improve at all – Democrats have been trying for two years to bring help to the American people, but the Republicans have consistently had their eyes on the 2010 mid-term election, and so they have frozen out any bills that would result in substantial improvement. Anything that could be deemed an Obama success must be blocked. Then, if America still suffers in 2010, the Republicans can point their fingers at Obama and hope that nobody remembers the eight years of Bush that created this recession – not to mention Reaganomics, which is really what this is all about.
As for the tax cuts we need... yes, we do need tax cuts, but not where you think. This recession is proof positive that Reaganomics simply does not work. This country was at the height of economic prosperity when people earning over $400,000 (in the 1950's; now that would be about $3.2 million) were taxed at rates ranging from 60-90%. It sounds awful until you understand the marginal value of the dollar and the way that marginal rates work.
Now, post-Reagan, as of 2007 1% of Americans owned more than 40% of all American financial wealth. 93% of American wealth is in the hands of the wealthiest 20% of Americans, while the other 80% of us fight over the remaining 7% of American financial wealth. That's what we're dealing with here – the growing separation between the wealthy and the rest of us – and the disappearing middle class. Reagan got the wealthiest Americans accustomed to tax cuts they didn't deserve. As a result, the middle class is now dying out like never before. You simply cannot have a middle class without taxing the rich – and considering that they are getting wealthy off our backs by overcharging us, underpaying us, and moving all our jobs overseas... they deserve those taxes. What is not fair is that small business owners who make only $200-$250K a year (and don't actually see most of those profits in their pockets) are paying the same top marginal tax rate as people who make millions or billions of dollars a year. We need a genuinely progressive tax system instead of one that puts the burden on the middle class. If not, we can wave goodbye to the middle class entirely.
Thanks Obama but the effort is too little and too late.
Of course it is. Everything this president does is just not good enough. And if he does nothing we hear it from you too, so pipe down. There is no such thing as too little, too late. Your party does nothing and offers no solutions, just complaints and obstruction. You tore this country apart for eight long, abusive years. Now take a seat and wait your turn. Do you think anyone is going to forget the Bush years any time soon? Oh that's right...we aren't supposed to mention GW in your warped reality. You have NO credibility and it's going to be that way for a very long time so get used to it. Sit!
Harvey, ideas are offered, amendments are offered, they are rejected by rank and file democrats since it is not compatible with their party line. Then you are told that republicans are being obstructive and you believe it ... and like a good mind numbed robot you go around spouting the party line.
You actually think the GOP will do anything for small businesses in this time of need? As they vote, NO
What have the democrats done so far for small business? Nothing.... BTW the republicans are the party of Know ... you spelled it wrong.
Sorry friend...we all lived through the Bush reich. Your party is the party of greed and self interest. The American taxpayer is a cash cow and a slave labor pool. It's too soon to forget the damage you fools have done no matter how much you wish and pray for it. No amount of big mouthed propaganda is going to change reality.
Sit down....
Sorry Harvey you are wrong. 7 of the to 10 richest in congress are democrats and you pay their salaries of 180l+ each year. The primary composition of the presidents cabinets are lawyers... not what you would call a cross section of the American people. I have lived through a lot more than just Bush. even back to Eisenhower... and I can tell you that it has never been bleaker... and it is not all Bush. One shred of common sense will tell yoiu that you can't continue to spend money like a drunken sailor for programs that have no impact. Ya know its kinda like rewarding CEO's for non performance.... all democrats are upset about that, how if we hold your precious democrats feet to the fire in the same way????