I’m very pleased that the chair and ranking member of the House Small Business Committee decided to have a hearing with representatives from the Treasury Department adn Federal Reserve, but what I saw from the panelists is pretty much they did not respond to the answer, they were very general, I think they just came over because we requested it of them.  I didn’t learn anything new on Thursday than what I’ve seen from other committees.

Credit unions are willing to loan more money to businesses but because of the cap they’re not allowed to.  So my question was would they not support increasing it, and I thought that was a very legitimate question, but they refused to answer that question.  Then when you look at businesses who might have used credit cards they’re being price gouged with the interest rate, it’s just outrageous, its going to force businesses to go further and further into a hole when they’re forced to use their credit cards and there’s no end in sight.  I didn’t feel confident at all that we received the answers to tough questions.  They were very good at avoiding answering the questions and it did not instill in me the sense that the treasury has a solid plan on where we should be going to deal with this financial crisis.

Absolutely it is more than just the financial crisis.  This administration has been terrible when you look at the small business administration, making sure that the SBA has the resources that it needs to help small businesses.  They receive an F rating when you look at the economic development rating, another area that is supposed to help communities and businesses.  This administration has been definitely unsupportive of that agency as well, the Bush administration primarily has been for large multinational corporations, it hasn’t been focused on small businesses and 98% of the businesses are small businesses.

The SBA and the EDA are extremely important so I definitely believe with a new administration it will be focused on small businesses and not the large multinational corporations. The only thing this administration cares about before leaving office is getting the Columbian trade passed which will help out large multinational corporations.

I can’t wait for a new change. The American people voted overwhelmingly for change and a new direction and that’s what Sen. Obama, when he becomes president, will definitely bring to Congress, is a change of direction.  You look at both the senate and house races, we’ve increased our margin dramatically because people want change, they expect change, they’re tired of the failed policy whether its foreign policy or domestic policy of this administration.

This entry was posted on Monday, November 24th, 2008 at 1:00 pm and is filed under Uncategorized .