Obama: GOP Holding Small Biz Bill Hostage

(AP)  President Barack Obama exhorted Congress on Monday to make passing a long-languishing small business aid package its first order of business when it returns next month from its summer break.

"I ask Senate Republicans to drop the blockade," Obama said in the Rose Garden after meeting with his economic advisers.

Acknowledging that the economy still remains extremely fragile, the president said he'd also have other specific ideas in the days ahead.

He mentioned extending Bush tax cuts due to expire this year for households making under $250,000 a year, upping the nation's investment in clean energy, rebuilding more roads and highways and tax cuts designed to keep jobs in the U.S.

"My economic team is hard at work identifying additional measures that could make a difference in both promoting growth and hiring in the short term and increasing our economy's competitiveness in the long term," he said.

In a week likely to be dominated by foreign policy, Obama is trying to show he's still minding the economy after his 10-day vacation in Martha's Vineyard.

A string of weak economic reports in recent weeks has fed fears that the economy would fall back into recession, only slightly offset by Monday's government report that consumer spending had increased in July after four down months.

"Every single day, I'm pushing this economy forward, repairing the damage that's been done to the middle class over the past decade and promoting the growth we need to get out people back to work," Obama said in his statement.

Obama said action on the package of small business tax cuts and credit incentives is "one thing we know that we should do" as soon as possible. Republicans have been blocking the bill, calling it misguided.

However, Obama said it was being "held up by a partisan minority that won't even let it get to a vote."

"The bill is fully paid for. And there's no reason to block it besides pure partisan politics," he said.

[WhoItBe]

One of the headlines in a local newspaper was an article about the Army Corp of Engineers hiring an Austrian firm to work at a dam. JUST HOW DOES THIS PUT OUR PEOPLE BACK TO WORK. This one of the federal agencies under our President!!!!

[miami_don]

by freedom4andall September 1, 2010 9:21 PM EDT

You are posting to rich corporation, your Internet service was invented by a mam who got rich and because of just these two businesses, millions of people are able to earn a living. Your criminal leader is rich! Use your head!

----

Who said there is anything wrong with getting rich? I have no problem with people earning what they have worked for. Think about that for a minute - how profound is the simplicity of that idea?

My issue is a corporate boardroom philosophy that is killing the American dream for the sake of investors, and at the expense of the health and long term profitability of American based corporations.

My issue is corporate presidents and CEO's who are paid to funnel profits to a minority of the very rich at the expense of the American consumer. The same American consumer who no longer has the purchasing power to pull us out of this recession. The same presidents and CEO's who will close their American plants and move to Asia leaving our workers unemployed while turning more of our cities into rust bowls.

My issue is the trade imbalance that was created in the last ten years that has made us a debtor nation. A trade imbalance creating an economic bubble only waiting for the next republican supply side administration to put a pin in it.

Your example does not fit my issues. Your thinking is as messed up as your ethics. My leader is a man who understands the U.S. Constitution and his role as president far better than anyone you can place on the field.

As for using my head?all I can say is you really need to put the helmet back on and climb back on your three wheeler. I find your thinking very flawed.

[independentmoderate]

We must break up monopolies, restore conflict of interest regulations, outlaw lobbyists, outlaw all contributions to candidates and provide equal time and space in advertising on a limited calendar, tariff companies who locate overseas, deport citizens who offshore accounts to avoid taxes, and strip them of citizenship...and prosecute for treason those who propagandize for war and profit in their investments.
Prohibit all government and miliatry brass from investment in military industrial complex industries, nd make it illegal for anyone to serve in either capacity in vital interest areas if they have worked in those areas of business, and/or receive salary or profit in those areas. Conflict of interest used to exist. Media needs to return to requiring those stations professing to be "news stations" to stay clear of endorsement for national elections. If you love capitalism, regulate it. The parties of small business do not exist any longer. They need to be restored to give the majority of Americans oportunity.

[noloyalisti]

What I would like to know is what do these Baggers want? Do they think it is going to be pleasant for them when there are only a few filthy rich people will everyone else is poor and hungry?

They are being robbed blind by "people" like Beck and Palin and their corporate masters, just like everyone else.

[freedom4andall]

Right, lend them money then tax them so much that they can't repay the loan. Great plan you liberal parrot. You don't watch Glenn Beck! We need less government interference. If you are hungry work for your food.

[miami_don]

by freedom4andall September 1, 2010 9:09 PM EDT
Right, lend them money then tax them so much that they can't repay the loan. Great plan you liberal parrot. You don't watch Glenn Beck! We need less government interference. If you are hungry work for your food.

----

Let me approach this subject the same way you did, which is apparently name-dropping, in your case from such as economic-diots as Glen Beck (who like you apparently cannot understand the difference between paying for something and borrowing the money to pay for something):

As stated by Alan Greenspan today, letting the rich have an extension on tax cuts for the next nine years is wrong - because the income not received from their taxes has to be made up by borrowing money. Can you speak Chinese you moron?

What is so hard for you to understand? Your dog does not hunt. You folks need to pull your heads out of your dogma and get some fresh air.

The aroma that is following Palin and Beck around regarding economic policy is the same one you would find in any barnyard and most offices on Wall Street. Wake up! Your right wing crap crippled the middleclass in the last decade and if we let you have control again we are all screwed.

Might as well change our name to the North American Peoples Republic of China - because if they own your money they own you!!! My God! Why are you folks breeding?

[noloyalisti]

Great post, we will not be able to turn this around until we are all actively talking and working toward repeal of ALL the fake free trade agreements.

We can't turn this around until we strip almost all political power from the filthy rich and the big corporations.

We need to join The Other 98% Campaign and make sure we have no more private money in elections.

[freedom4andall]

You are posting to rich corporation, your Internet service was invented by a mam who got rich and because of just these two businesses, millions of people are able to earn a living. Your criminal leader is rich! Use your head!

[miami_don]

by JJ_in_tulsa September 1, 2010 12:43 AM EDT
the real point is, private business does own all the cards in our county. You can not tax us when we don't like it, you can not hold us hostage on your idea ideas. The real is, the private business in this county will run this this county when it is good for us. And that is the good news. We will hire people and do out business when it is good for us, and we won[t when you tell us to. This country can not survive without private business and that is why we are good and why we are saying NO

----


You are missing something very important in your thinking. (If you are trying to make a case for big business?) This is pretty fundamental and often overlooked but unless you understand current corporate philosophy every defense are attack on our politicians is simply a waste of time because they are unable to deal with the cause only the result.

There was a time in our country that our predominate corporate philosophy was company first. Literally the company, its management and employees, its stockholders, and the community or communities it operated in were important. Companies, workers wages, and communities flourished but returns to stockholders although steady were never the mega returns of the last decade. Also there was more equality between the wages of the boss and the wages of the janitor.

Current corporate philosophy is no longer based on company first. It is completely obsessed with shareholder returns. Returns on investment control every facets of the global economy. The health of the company is totally dependant upon making sure investors, stockholders and the banks are put in front of all other needs of the company. The presidents and CEO's of these companies are no longer paid in a proportional amount to their employees because their roles have changed to being the managers of the investment returns.

Consequently you have companies like Nike producing a product in Indonesia for pennies on the sales price. The president of Nike is paid for the performance of the profit percentage returned to the investor. Profit returns to the investor have become far more important than the day to day operations of the company and the heads of these corporations understand they are only as good as their last stock report. (They truthfully have become marketplace ****** for sale to the highest bidder.)

That all sounds really great but what happens if you bankrupt your largest customer? This is exactly what has happened with this recession. It is one thing to maximize your profit by producing it in Indonesia but when your primary customer the American Middleclass can no longer afford to purchase the product you produced what happens?

When the manufacturing and high tech jobs hit the highway for Asia the average wage of the American worker bit the dust. (Can you remember retraining America for service jobs?) The service jobs created in the 1990's and the first decade of the this new century have never paid wages even vaguely resembling those jobs that were lost. Truthfully the minimum wage has flat-lined in the last decade and the American public has lost its buying power. Further, the whole idea that small businesses can replace the wages paid by these global mega companies will never happen simply because these small companies will never be able to produce (are you ready) the profits necessary for wages.

It is a circle jerk and thinking a return to any economic policy of the last decade is an exercise in economic suicide. If you want this economy to recover you need to start thinking bigger than your backyard.

[noloyalisti]

All the union money in the country combined is a couple percent of just ONE big corporation like Exxon or Halliburton, etc.

So stop the garbage propaganda.

[Lifeson2112]

You're just mad because the unions won't be the biggest contributors anymore. Your days of buying elections are over.

[velma179]

Wrong Lifeson2112

The Citizens United ruling affected both Corporations and Unions. It changed rules about what they can do and the timing of their actions. It didn't change anything to do with donating to CANDIDATES!

Unions have not been the largest donors, by any means.

Having facts sure helps. Will you please try to get some factual information before you vote? Your country -- as created by our Constitution -- relies on an informed electorate in order to stand. Thank you.

[noloyalisti]

Just remember who is actually running the government: big corporations.

As in other right wing fascist countries like America, the people are insignificant consumers being raped and pillaged by the filthy rich.

Just follow the money and you will be able to explain EVERYTHING that is going on.

[velma179]

Actually, that is not true, Joe (Empire-George).

The Unions and the Corporations were given the right to make their own ads/political media up until the election in the "Citizens United" SCOTUS verdict.

They were always able to donate to candidates up to a certain amount and that has not changed. Organizations such as moveon.org on the left and Freedom Works on the right have always been allowed to donate to candidates within the same restrictions.
They also have been able to form PAC (Political Action Committees) to funnel more money into races.

The only thing that is new is that Corporations AND Unions are considered to be "persons" and in that can make their own ads all they want. They can also air these ads right up until the polls close on Election Day. They are still forbidden to donate any more that FEC rules allow to a CANDIDATE or CANDIDATES.

This creates a conundrum. A Union could make an ad about a Republican candidate saying "we love this guy/girl" and cause a problem with their base or in their specific district or state. Or, a Corporation can make an ad for a Democrat and say "we love this guy/girl" and cause problems for them...

Having facts really helps you to understand the issues of today, Joe.

I hope this helps.

[indignant]

This is from page 20 of the bill. It is the 7th item and it REQUIRES the lender to advertise in the language of a minority in order to get them a government sanctioned small business loan.

Correct me if I am wrong, but isn't this bill supposed to promote small business lending for our citizens? This sounds like another way to defraud the taxpayer and funnel money (OUR MONEY) to foreign countries or illegals. Is it any wonder that the republicans are against it. I would be willing to bet they didn't put that in the bill.

Maybe we should require all citizens to read ALL bills before they vote for the PARTY line.


(7) MINORITY OUTREACH.?The Secretary shall require eligible institutions receiving capital investments under the Program to provide outreach and advertising in the appropriate language of the applicant pool describing the availability and application process of receiving loans from the eligible institution that are made possible by the Program through the use of print, radio, television or electronic media outlets which target organizations, trade associations, and individuals that represent or work within or are members of minority communities.

[WhoItBe]

Many states have already enacted "English only" because the FED's won't.

No this bill for small business is not what it is touted to be.

[velma179]

What states? And have they enacted restrictions on what laws or procedures the Federal government can enact? (please read the US Constitution for one point of reference on this second question...)

Do you have ANY facts, WhoItBe?

[noloyalisti]

One question: what in God's name are these billionaires doing good for you?

The Republicans are ALL about giving ALL our money in welfare and entitlements to the filthy rich.

Join The Other 98% Campaign and help take apart these big corporations. While we still have a dime left.

[noloyalisti]

We want to put extremist Tea Bag Republicans back in control? After what the maniac savages of the GOP did?

These are the people who destroyed America. What happened to our brains?

I am disgusted and embarrassed to be a part of this ignorant, corrupt and twisted society.

[infantryman1968]

LOL!

Your Socialist revolution is definately over.

Maybe you should martyr yourself for Obama by setting yourself on fire?

[WhoItBe]

Actually all of us extremist tea bagger's aren't all Republicans!!!! Shhhhhhhhhhhh, it's hidden secret.