How Obama Is Hurting Small Business

Tait Trussell is a national award-winning writer, former vice-president of the American Enterprise Institute and former Washington correspondent for The Wall Street Journal.


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Instead of any experience in dealing with our feeble, job-deficient economy, Bryson last year served on the United Nations advisory group on Energy and Climate Change. It called for transforming energy sources over the coming decade. Its goals are to end poverty and hunger, provide universal education, gender equality, environmental sustainability and global partnership.

Bryson co-founded the Natural Resources Defense Council (NRDC). Its romanticized mission: “To safeguard the earth, its people, its plants and animals and the natural systems on which all life depends.” This “green evangelist” seems totally detached from the nation’s deep anguish over the dismal state of the economy.

Ms. Kerrigan said her organization is quite concerned about the selection of where jobs are to take place — the so-called “green” jobs — that could take an unknown time to ever develop and may never provide a “robust economy,” she told me.

Long-term joblessness has become a major problem. In May, 33 percent of people without jobs had been unemployed for 52 weeks, up from less than 10 percent in 2007. Skills deteriorate as people are without work.

A member of the council, Sherwood Neiss, a Miami Beach entrepreneur, testified before the House Committee on Oversight and Government Reform May 10 calling for regulatory modernization at the SEC to “boost our struggling economy.”

He testified, “We can open the doors to small business growth and prosperity.” He urged approval of “crowd fund investing,” whereby groups of people come together to invest small amounts in start-ups to help an entrepreneur succeed. It is not currently permitted by the SEC.

“Over the past five years,” he said, “more than 500,000 people with ideas for films, albums, and art projects and entrepreneurs in developing countries have used crowd funding sites [on the Internet] to raise money.

“According to the Department of Labor prior to the financial meltdown, 76 percent of small businesses received traditional funding [from banks and other institutions]…With the financial meltdown our economy stalled, over 8 million jobs were lost….Traditional financing has virtually disappeared.” The security laws, he noted, were written to address abuse of large corporations. Today, however, “these laws require a small start-up to raise $50,000 to jump through the same hoops as a large corporation seeking to raise millions of dollars,” he observed.

People still want to invest in entrepreneurs because “they believe in people with ideas….Our nation’s small businesses have suffered disproportionately during the downturn and continue to struggle….Crowd funding has the potential to deliver the jobs Americans have been longing for,” he told the lawmakers.

“You would think,” Ms. Kerrigan said with a tone of frustration, “that the administration would see a need to ramp up efforts to help increase domestic energy exploration and development by streamlining government regulations and minimizing uncertainties.”

“Job creation, in the end,” said SBEC chief economist Raymond Keating, “is overwhelmingly about small business.”

 

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  • geez

    We can't afford anymore of this Obama's idiotic "leadership", but I guarantee you he will run on the idea of how much worse it would be if he hadn't made the tough decisions. What's really sad is there are millions of ignorant sheeple that will swallow that line of crap and vote for this community organizing moron again! 2012's going to require that every person with neurons still firing in their brain get out and vote for someone that actually has economic experience, has run a business and knows how to put people back to work. Here's my 2012 tee shirt… 2012 let's try intelligence and experience or how about this one… 2012 defend Jews and jobs VOTE!

  • Gamaliel Isaac

    Obama blames high gas prices but they'd be a lot lower if he hadn't inflated the dollar.

  • flowerknife_us

    The current Government demonizes those with the income level that actually support "small Businesses", Small businesses really depend on the level of discretionary spending available.Small business is being helped-to closeup. Reducing the consumer base while bleeding them out with the constant increasing of operating and material costs.

  • Asher

    Obama is collapsing the economy, and.Swelling the Welfare rolls. Obama said in his Cairo Speech. "As the Holy Koran tells us, "Be conscious of God and speak always the truth." He uses the Use of the Holy Koran, a translation from the standard reference in Arabic, al-Qur'an al-Karim. "America is not and never will be at war with Islam." "I consider it part of my responsibility as President of the United States to fight against negative stereotypes of Islam wherever they appear." Does anyone believe Islam is a religion of peace? So why does Obama cater to Islam and the Brotherhood? The Birth Certificate, the ties to Terrorists, Ayres, Rashid Khalidi, Khalid al-Mansour, Mazen Asbahi, Obama's first Muslim outreach coordinator, who resigned after it came to light that he had served on the board of a subsidiary of the Saudi-sponsored North American Trust, with Jamal Said, another unindibted co-conspirator in the 2007 Hamas funding trial…Wake up America, this guy has deceived everyone.
    http://www.danielpipes.org/593/obamawouldfailsecuhttp://www.danielpipes.org/blog/2009/06/islaminob

  • Cuban Refugee

    The communist table is being set for the government to consume all the platters of big business, and for the bread plates of small business to disappear by our fraudulent waiter's bureaucratic sleight of hand. By the time most of the diners in this country — and the world — realize that they are having a very bad dinner, everyone will be hungry except for the elites who run the restaurant franchise, and their families and friends. If we the people do not collectively throw our napkins on the table in disgust, and demand a refund, there will be long lines at the vomitoria due to the rampant food poisoning. Unfortunately, at the speedy pace this meal is being served by the maitre d's cadre of radical busboys, we may find that the exit doors to freedom have been bolted shut, and even the useful idiots who gave this nightmare of a restaurant an excellent review will be locked in and tied to their chairs.

  • Alfonz Shmedlap

    F., 06/10/11 common era

    Barack Husein Obama was a "community organizer." Did he ever have a newspaper route or a sidewalk lemonade stand? Did he ever sell magazine subscriptions door to door or flower and produce seeds? That's o.k. because he is among the Power Elite who simply know best what's best for us working-class ants.

  • voted against carter

    2 and a half years ago I had a thriving Advertising agency that employed 25 people.

    18 months ago I started laying them off.

    8 months ago I let the last one go.

    4 months ago I closed shop.

    Some time later this summer I will go into foreclosure on my house.

    Obama sure HAS fundamentally transformed America.

    no HOPE,… spare some CHANGE????

    • promise

      There's far too many stories like yours. Hang in there. I had something similar happen as well. I was laid off end of 07' and decided it would be a good time to have surgery on my knee. The surgery failed and I had to have it again 5 months later. I had the second surgery everything went well with the exception of being addicted to morphine/pain pills. Anyway, I finally started looking for a job end of 08' but can't get an interview. Other than one interview that I was way overqualified for all I heard for more than 2 years was the sound of crickets, and I have 25 years experience. I finally got an interview out of nowhere and I mean out of the blue, now I had not been to church in many many years but I promised God before the interview I'd pay tithe on every check received if the job came through. I'm keeping my promise to God for the 4th time today. I've paid my tithe since the day I got the job. I pay it to a church that preaches the whole bible, not some shriveled up bunch that plays church. Pray and keep your promise, God will keep His.

  • Ferret

    High gasoline prices screwing the economy ? Try paying US$6.50 per gallon like we do in Australia. And our economy isn't screwed.

  • http://www.yahoo.com/ Zavrina

    Heck of a job there, it abosueltly helps me out.