Obama Calls For Measures To Help Small Business
In this weekend’s YouTube address, President Obama laid out proposals that he said would help small businesses, including the use of money left over from the TARP bailout:
“Because financing remains difficult for good, credit-worthy small businesses across the country, I’ve proposed that we take $30 billion from the TARP fund originally used for Wall Street and create a new Small Business Lending Fund that will provide capital for community banks on Main Street,” said Obama. “These are the small, local banks that will be able to give our small business owners more of the credit they need to stay afloat. We should also continue to waive fees, increase guarantees, and expand the size of SBA-backed loans for small businesses. And yesterday, I proposed making it easier for small business owners to refinance their mortgages during these tough times.”
Hensarling: I Agree With What Obama Says –Â But Not What He Does
This week’s Republican YouTube address was delivered by Rep. Jeb Hensarling (R-TX), one of the Congressmen who debated with President Obama at the “Question Time” event a week ago. In this video, Hensarling criticizes Obama and the Democrats on spending issues, and opposes the creation of a special commission that would recommend fiscal changes:
“Now, when it comes to budget matters, I usually find myself agreeing with about 80% of what the President says, but I disagree with 80% of what he does,” said Hensarling. “While the President’s budget rhetoric gives a nod to reducing the deficit, he punts the problem to a ‘commission’ that does not yet exist, and whose recommendations may never see the light of day. We have to do better.” As Christina Bellantoni notes, Hensarling makes no mention of the plan offered by Rep. Paul Ryan (R-WI), to privatize Social Security and Medicare.
Obama’s Day Ahead
President Obama will appear at the Democratic National Committee’s winter meeting, and will deliver remarks at 10:30 a.m. ET.
Palin To Speak To Tea Party Convention Tonight
Sarah Palin will deliver a speech tonight at the National Tea Party Convention in Nashville. The address is scheduled for 9 p.m. ET.
WaPo: Tea Party Still Taking Shape
The Washington Post reports from the National Tea Party Convention, finding a movement dealing with both the benefits and divisions that come from its decentralized nature. “Here was a California woman counseling people on how to register new Republican voters in their communities, but there were others who criticize the Republican Party as fiercely as they do the Democratic Party,” the WaPo reports. “Here attendees lashed out against the practices of the Washington establishment, but there a man from Memphis announced the formation of a political action committee. Here a former congressman delivered a fiery defense of America’s ‘Judeo-Christian values,’ but there delegates walked out of a prayer session they thought crossed a line.”
Obama Admits Health Care Reform Could Die On Hill
Speaking to a Democratic National Committee fundraiser, President Obama admitted the possibility that health care reform could fail in Congress. “And it may be that … if Congress decides we’re not going to do it, even after all the facts are laid out, all the options are clear, then the American people can make a judgment as to whether this Congress has done the right thing for them or not,” said Obama. “And that’s how democracy works. There will be elections coming up, and they’ll be able to make a determination and register their concerns.”
Gates Denies Deal Being Near With Iran
Secretary of Defense Robert Gates denied assertions by the Iranian government that a deal was near on the country’s nuclear program. “The reality is they’ve done nothing to assure the international community” or “to stop their progress toward (building) a nuclear weapon,” said Gates, also adding: “And therefore various nations need to think about whether it is time for a different tack.”
