How has your small business been doing under obama’s administration?....
A recent USA TODAY/Manta.com survey askeda similar question of small business owners.....
11% of respondents said things were good.....
13% of respondents said things haven’t changed (“change you can believe in!”).....
77% of small business respondents said that obama’s small business policies have negatively affected their small businesses.....
This can’t be!....
As part of the non-spurring stimulus bill left to obama’s administration toimplement, $200 BILLION was to be used to assist small business owners.....
It was to be Main St. over Wall St.....
However, the owner of your favorite coffee shop down the street sat with his other smallbusiness buds and watched as obama’s great economic minds handed out TARP cashto banks and large corporations.....
Things were not going as obama’s treasury secretary Timmy Geitner had originallyplanned.....
So, in March 0f 2009, obama had another plan.....
Give them more money (since the money was notcoming directly from the Treasury, no Congressional approval would benecessary.)....
obama goes for political points as he makes a tiger woods-like public announcementthat $15 BILLION more would beallocated from TARP monies to help out small business guys.....
“This will unlock our frozen credit markets which is essential for economicrecovery,” obama assured us.....
obama’s chosen SBA chief, Karen Mills, said that small businesses “create 70%” of newjobs each quarter.....
The plan was to use tax-payer monies to back 100% of SBA loans. The thinking was that this would loosen upcapital, create jobs and give small business owners “change they can believein.”....
How’s that unemployment rate working out for ya?....
We’re not investment bankers, but we play them in D.C.....
To spur interest, obama signed off on removing the restrictions on executivecompensation for those receiving TALF (small business bailout plan) funds.....
Did it work?....
Between June 2008 and June 2009, 6 months after obama’s small business plan, small business bankruptcies were up81%.....
For the first 3 quarters of 2009 (latest for which figures are available), smallbusiness bankruptcies were up 13%.....
In October 2009, Democratic Senator Mark Warner of Virginia said, woa, we needmore cash for this thing. He proposes thatanother$50 BILLION be made available for this most excellent plan.....
Oh, it worked in some places.....
Back in Maine, where obama’s chosen SBA chief Karen Mills hails from in her pastlife as a venture capitalist; aluminum trailer maker Alcom, Inc easily receiveda $1.1 million dollar loan from obama’s government.....
But down in Fort Lee, New Jersey, small business owner James Daigle said that hewas “laughed off” when he attempted to get a loan for his business.....
They are cheering in Oman and Bahrain however.....
obama’s SBA announced in February of 2010 that they had just entered into a partnershipwith Middle East and African countries to provide access to capitol and tostrengthen small enterprise in those regions.....
Greaaaat; Oman, Bahrain. Those aren’t cities inSouth Dakota.....
Also in February of 2010, obama said an additional $30 BILLION should besent to little community banks around the country…I think he meant thiscountry, not sure. ....
It appears that too many banks that received the original funds for this most awesome plan were just hoarding the cash andnot lending it and the little guys were getting screwed…or so the storygoes. ....
Who’s ordering dusty daiquiris in Bahrain right now?....
Toyota wasn’t doing to bad with the plan.....
$750 million of the original plan funds were to go to World Omni Financial Corp, thecompany that makes loans through Toyota Motor Corp. And a great American company it is.....
Massive amounts of tax-payer money paid out in stimulus funds by the obamaadministration and we watch as large banking executives continue to awardthemselves billions in bonuses.....
Massive amounts of tax-payer money paid out by the obama administration for a jobsstimulus and unemployment rises; then billions more are asked for.....
Massive amounts of tax-payer money paid out by the obama administration for the homemortgage industry and still we see increases in mortgage bankruptcy filings.....
Massive amounts of tax-payer money paid out by the obama administration for a failedsmall business bailout; and still more money is allocated.....
I’ve got another plan. Let’s stop givinganything incorporated any of our money, and start giving the billions out toindividual tax-payers. We will spend,we’re good at that. We’ll savebusinesses, help the economy, and then travel to Bahrain to buy a Toyota.....
