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Obama says small businesses key to economy

Tue May 19, 2009 4:16 PM EDT
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Associated Press
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WASHINGTON — President Barack Obama says the nation's small businesses are responsible for half of the nation's private sector jobs and deserve support from Washington.

Obama on Tuesday welcomed winners of a Small Business Administration award to the White House's East Room. He said some of the nation's best businesses began as small ventures, such as Google and McDonald's.

Such businesses' impact goes beyond the economy, Obama said, adding that small business owners help strengthen local neighborhoods. Given everything a small business does for its community, the government should do its part to help leaders, he said.

That's why Obama says his economic policies would help pay off private loans and increase government backing for SBA loans.

© 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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Kwame-890519

Small businesses also hire the majority of illegals as they try and increase their profit and compete with others doing exactly the same thing. Greed isn't just found on Wall Street. Let's not canonize anybody just yet.

  • 1 vote
Reply#1 - Tue May 19, 2009 5:03 PM EDT
Obamasized

The first order of business of obama in his proposed joint bill called the Building Uniform Leaders thru Loans program and the Service for Helping Increased Trade is to raise the taxes of small business as well as forcing them to either pay for insurance or pay the government. That should give everyone a shot at the American dream

    Reply#2 - Tue May 19, 2009 5:47 PM EDT
    BKER1492

    Crap! Now he's after the little guys.

      Reply#3 - Tue May 19, 2009 5:58 PM EDT
      mike from wisc

      Not only has he created the largest unemployment lines in history now he wants to kill the very businesses that employed these people. Everytime he talks about a new program it blows up in his face. This guy needs to just leave it alone.

        Reply#4 - Tue May 19, 2009 6:03 PM EDT
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