Congress can’t steal from future generations fast enough to please President Obama. So he’s urging them to quickly spend another $30 billion to spur hiring. You know, since that’s worked so well in the past. Meh.
President Obama Friday repeated his call for Congress to pass a $30 billion package to foster hiring and help tackle painfully high levels of unemployment.
“I’m hopeful the House will pass these measures next week and that the Senate will follow as soon as possible—with support from both Democrats and Republicans,” Obama said in remarks delivered in the White House Rose Garden.
After the worst recession in decades, many small businesses report trouble getting credit.
Obama’s proposal would establish a $30 billion fund to boost lending to small businesses looking to hire and expand operations by providing additional capital to community banks.
The House of Representatives’ Financial Services Committee approved the Small Business Lending Fund Act last month by a vote of 42-23.
Porkulus was nearly a trillion dollars (will be more when you tack on all of the interest) and what did that get us? Unemployment is still stuck at nearly 10% and retail sales “unexpectedly” fell last month. Oh, never mind. Common sense has left Washington, DC.