A Pledge Small Businesses Do Not Need
John Ligon /
Facing the stark reality of double-digit unemployment and the failure of his first $862 billion economic stimulus, President Barack Obama unveiled his second stimulus plan last month including a mix of subsidies and government-subsidized loans targeted solely at small business. Obama’s Second stimulus will be funded in part by roughly $33 billion from the TARP, that will be then redirected to community banks through the Federal Small Business Administration (SBA).
While the aim of promoting job growth through the “acceleration” of small business creation and expansion is laudable, businesses do not want more government intrusion. Unfortunately, in an attempt to stimulate job creation and small business growth, the last round of pledges from the White House will only further expand government regulation over business. (more…)