Name: Timothy
Posting: #1
Topic: Leaders
Title: Obama Signs $42 Billion Bill Aimed to Help Small Businesses
Writer: Tom Cohen
Publication Name: CNN
Publication Date: 9/27/10
Length: 503
http://www.cnn.com/2010/POLITICS/09/27/obama.small.business.bill/index.html?npt=NP1
On Monday Sept. 27, Obama signed a $42 billion bill in an effort to help small businesses. Obama's reasoning behind this was that it would create more jobs through providing tax credits and allow for banks to have more opportunities to loan to businesses. Both parties supported the basic ideas of the bill, yet it still took several months to get the bill worked out, mostly due to a few Republican senators opposing the bill. The reasoning of the few Republicans opposing the bill was that it did nothing to help job creation, instead simply hurting taxpayers with more bailouts. Obama was also supported by the Financial Services Roundtable, which was a group of the nation's largest financial institutions. The group's president, Steve Bartlett, stated that small businesses were key in the recovery and growth of the nation's economy.
The main goal of this bill is to encourage small businesses to purchase new equipment, have capital firms invest in the small businesses, and to motivate more people to start their own businesses. The bill's provisions had backing from both Democrats most members of the House. Many believe that this bill would actually be of a lot of help for job creation.
I agree and support Obama in his plan because by just looking at it logically, it makes sense. The small buisnesses are what have the most potential and giving them even a little bit of money will boost their employee number and create jobs. Also, big buisnesses shouldn't be given more money to monopolize over smaller ones.
ReplyDeleteI agree that it is good that obama is trying to bring back smaller buisiness. He understands what happens when monopolies run America, (eventual un reasonable prices) Even though some criticise it as just bailout it is still going to help jobs by making sure soem people aren't laid off.
ReplyDeleteSmall business is crucial to the success of our economy and if we do not support them. In this time of economic troubles the majority of them are wondering where their next dollar is going to come and are on the verge of closing down. If we do not support them then it will effect not only the people that own the businesses but the consumer which will lead to a greater recession. I agree with this funding for the small businesses because it is almost not an option not to help them.
ReplyDeleteI agree that small business is extremely important to the economy but I don't think that they are going about fixing the problem right. We have tried that before and it clearly didn't work the solution to the problem isn't throwing money the more of china's money we borrow the more debt we get into and eventually we are going to have to pay this debt which will cause massive inflation which is not good for any party. I think they should go about this in a different way its undeniable that they need help and that massive corporations clearly have the advantage but I maintain that just giving them money wont help establish a sustainable source of income.
ReplyDeleteI think creating small business is vital to our economy, although these days it is quite hard to tell whether we want to continue with bailouts which hurt many taxpayers. The problem with bailouts is it is never a given that the bailout plan will work, and it has not worked for a few instances already, although in other cases it has worked. Small buisinesses are crucial to boosting our economy by creating more job opportunities, and helping the general US economy. I think that the money should not just be given to any corporation, but one that has a plan that seems reliable enough to obtain the bailout money.
ReplyDeleteI think that it is good that Obama signed this bill because the success of small businesses is vital for the economy to do well. I understand that taxpayers will have to pay more, but I disagree with the Republicans' idea that it will not create new jobs. More small businesses will be created and they will be able to hire more people. As someone above also mentioned, it will be a lot better because bigger businesses will lose their monopoly over the industry.
ReplyDeleteif big buisness lose their monopoly over industry the world would be a better place. small businesses are a good way to get more people more jobs. also small businesses are far less likely to corrupt like big businesses because they have to maintain customer satasfaction to stay afloat.
ReplyDeleteI agree with Gavin, the bail-out happened because big companies did not handle the money well. Not only that but they are always the one who won't be losing anything. When the big businesses proposed the bail-out, the flew in with helicopters and used technology so expensive. They won't help the economy, and the bail-out only helps themselves. Not really anyone else, such as the taxpayers. The taxes increase and more people just get into a deeper debt than they already are.
ReplyDeleteI like this post because I like Obama but that said, I think that he should be more focused on getting us out of debt and he should have taken a bigger step in getting government involved in little businesses to help boost our economy to help pay off our ever-growing debt.
ReplyDeleteI think Obama is making a new decision by supporting smaller businesses in order to help improve the job market by looking into the future instead of concentrating so hard on the present.
ReplyDeleteI agree that Obama is making a good decision. He creates new jobs. Also, he creates a business competition which makes it harder to cheat the prices. I believe that small businesses are the key for a healthy economy.
ReplyDeleteTherefor, it was a good step to make the economy safer after the finance crise this summer.