Republicans block small business lending bill

[ProSense]

Source: Associated Press

WASHINGTON – Senate Republicans have blocked a bill to increase small business lending, dealing a setback to President Barack Obama's jobs agenda.

The bill would have created a $30 billion government fund to help community banks increase lending to small businesses, combining it with about $12 billion in tax breaks aimed at small businesses. Some Republicans, however, likened it to the unpopular bailout of the financial industry.

Democrats and Republicans will continue to negotiate amendments to the bill. But Thursday's vote will make it difficult for Congress to pass the bill before lawmakers go on their summer vacation.


Read more: http://news.yahoo.com/s/ap/20100729/ap_on_bi_ge/us_small_business_lending_11

[babylonsister]

1. Rec'd for more eyes and in total disgust. nt

[flamingdem]

4. +1 should be cross posted ? nt

[superconnected]

29. +1 Republicans don't want us to recover because the worse the economy,

the better republicans do in elections - even though they never get us out of the bad times and only dig us in deeper.

[alp227]

46. Bush won during a good economy (2000)

but only because of bad vote counting in Florida and the US Supreme Court! And guess what happened? KABOOM! Clinton's budget surplus erased, and the economy in ruins to make Obama's shoes real sticky.

[CatholicEdHead]

2. Same reasons, tax cut for the rich to give to the little guy

"GOP amendments included measures to beef up border security, impose a government spending cap and lower the estate tax, which is scheduled to return next year with a top rate of 55 percent on estates larger than $1 million.

One Republican amendment would repeal a new tax reporting requirement for businesses that was included in the massive health care overhaul enacted last spring."


:puke:

And you hear nothing but on commercials how much the GOP is for small businesses and government is bad.

[Evasporque]

3. The the reasoning is:

YARGLE BARGLE!! BLAaaaarrrgh!

[midnight]

5. President Obama is having one hell of a time with these nuts.

If he could only bypass them like the Republicans did to the Democrats when they were in the White House.

[Kweli4Real]

87. Well ...

The Bush administration didn't have to by-pass the democrats when he was in office ... a significant portion of congressional Democrats dutifully fell in line, voting for just about everything he wanted.

[TomCADem]

6. The Media Narrative Is Disgusting - Celebrating Political Gamesmanship

The media narrative of this is disgusting. “Republicans deal set back to President Obama!” This is not a freakin game. The Republicans are doing their absolute worst to screw up the country for political advantage. They are even willing to block proposals that they have supported in the past in order to gain political points whether it is McConnell voting against a deficit commission, McCain voting against campaign finance reform, or Graham voting against a climate bill. And all the media can crow about is the Republicans dealing the president a set back.

That is not correct. The Republicans are dealing Americans a set back. When the Republicans block unemployment benefits, millions of people are affected. It is not a game, and the corporate media needs to stop treating like a game where moves like this are praised as good political strategy.

[Guy Whitey Corngood]

12. It is to them. These overpaid airheads couldn't give a shit if you lost

your job, business or entire livelihood if you paid them to.

[AlbertCat]

100. Bingo

The world outside Washington is of no importance. It's that annoying place where they have to pretend to listen to what the plebs are saying.

[AllTooEasy]

15. one of the best post EVER! Great Job!!!

[GreenTea]

19. LOL! You expect a fucking progressively honest story or reporting from AP?

How about from Fox "news" or the Washington Times or even the NYT, WaPo or network news? - It's disgusting for sure but one must get fucking real....Liberals are fighting and uphill battle - and It's just gotten worse as the republicans blocked the DISCLOSURE ACT and will make sure it doesn't receive the 60 votes necessary for passage, at least NOT before the November elections....(talk about bullshit, look at this 60 vote "super majority" it takes for anything to pass).

The complaint in your post will become even worse as wealth greedy-selfish republicans and their corporate self-interest multinationals will begin running ads spinning, smearing, distorting and lying about the democrats real position and the truth on the bills & legislation will be turned around to favor republicans ideology and point of view as being correct.

Your legitimate gripe will now only get worse and spun for a complete 180 meant for the uninformed, uneducated and the angered unenlightened hateful who WILL be voting republican and republicans themselves who believe in their sick racist selfish republican ideology.

What we'll see from the corporate media as well as the now anonymous billionaires, is trashy lying political ads that will reinforce the message & lies made for these republicans and the unaware....

We all know attack ads work on the unbelievably uncaring, unaware populace...We've got to work that much harder, donate more and do all we can to get the truth out.

(And of course it will never end, they have the money and power and they want it ALL - EVERYTHING is not enough, they want to enslave us as well, do as they please with NO regulations, while continually lying and cheating offering only more wars for profit, destroying every corner of our planet while polluting it all to grab even more profits, bowing to their mantra - FUCK EVERYTHING ELSE ONLY PROFITS MATTER! - This will never end....We can only hope & fight to slow down the inevitable - And I'll NEVER stop fighting, trying, donating and screaming out every way I can)!

[wordpix]

38. "their absolute worst to screw up the country for political advantage" - no, it's for FINANCIAL

advantage. Let's call it what it is. The repukes are screwing the country b/c they're protecting and helping their corporate masters who in return, give the pols campaign donations (legalized bribery). Those in office also get all the perks and respect of their offices, and revolving door jobs later where they make 10x what they made as congressmen and senators.

You can dress it in politics but this is all about greed and money.

[Enthusiast]

65. You got it wrong!

The Republicans are standing against Obama's socialist agenda. :crazy:

[Mad_Dem_X]

71. +1

"The Republicans are dealing Americans a set back." TRUTH.

[bear425]

85. this should be an ltte.

Well said! May I use some parts for my letters?

[BootinUp]

7. Obama is going to make them regret this. nt

[saigon68]

13. He will do nothing

[BootinUp]

17. Sounds like sour grapes narrative bs.

I think he will.

[MadMaddie]

37. I agree!

[Name removed]

74. Deleted message

Message removed by moderator. Click here to review the message board rules.

[BootinUp]

84. Your skills seem to be name calling not politics

I think Obama will use his superior poilitical tactics to extract a cost from the repugs, and continue to advance his agenda.

[Liberal_Stalwart71]

80. I agree. What can he do? Even if he did have the tools to do something, he simply won't fight back!

It is the most frustrating thing in the world. He is so afraid of Republicans. Afraid of the corporate media. Wants everyone to like him!!

It's getting on my fucking nerves that neither he nor many Democrats fight back!!!!!!!

[Kweli4Real]

88. Part of that is true ...

President Obama appears to want everyone to like him; but I don't believe he is afraid of republican or the corporate media.

And, I agree that it is frustrating ... frustrating that people get frustrated because President Obama won't pushing or fight back. He does by trying to find a balance between the competing interests of the electorate . That is, after all, his job; to govern the nation through democratic principles ... you know, the will of the people .

But we must continue to ask ourselves, WHO writes and VOTES on the legislation that becomes laws? The president certainly doesn't.

We seem to cursing "Friend A" because "Friend B" won't lend you his car. Sure, "Friend A" can ask real nice, seek to persuade, pressure, or even threaten "Friend B", but at the end of the day, it is "Friend B" that is responsible for making the decision as to whether you get to use his car.

Now, President Obama COULD suspend the Constitution and announce himself King or Dictator for life and then give us democrats/liberal/progressives everything we want; but I suspect that would pose other problems for those that value democracy .

[Greyhound]

94. There is no "will of the people" against this, that is straight-out BS.

This is about refusing to help main street, again.

[xxqqqzme]

95. no, he won't.

He will invite then to the White House. There will be pictures taken around a big table and interviews w/ party 'leaders' as they exit. Then the next day it is all the same ole shit all over again.

[kestrel91316]

8. Explain to me again how the Republican party is "pro-business"?

Because I am not seeing it. I am seeing a "pro-Fortune 500" position - small businesses be damned. Once again, they hate the Little People, can't stomach the idea of letting anybody else have a shot at the American Dream now that THEY have achieved it.......

[LargeGreenSpider]

11. They're pro-top 1% of businesses

like they're pro-top 1% of people.

[wordpix]

39. they're the GOCorporatist Party & mom&pop businesses, be damned

:puke:

[HughBeaumont]

61. GOPigs buildin' the moat.

No piece of the pie for you, only for US.

IS there any doubt which "business" the "Business Party" sides with?

Axioms that are as truthful as water is wet:

Republicans HATE the "little guy".

Corporate America is sabotaging American progress.

[Downwinder]

9. Another attack on the middle class.

[elleng]

10. Beat me to it. Those SOBs!!!!

[DCBob]

14. Of course they would do this.. its their SOP for every bill coming to the floor..

I do think they will come to some agreement eventually and the Republicans will then take ownership because they will claim they forced the Dems to fix it. Pathetic political gamesmanship.

[Blue Owl]

16. Where's Joe the Plumber now?

Remind me -- which party was the one hurting small business in America?

[Thav]

83. Good question

Maybe the headline should read: Republicans tell Joe the Plumber, "Sorry, you can't expand your business and hire people to improve the economy."

[florida08]

18. they want America to fail

we are being spanked ladies and gentlemen for electing a black democratic community organizing moderate for president.

[skypilot]

20. "Some Republicans...likened it to the unpopular bailout..."

This is what they seem to do to everything they want to squash lately, just toss out the word bailout.

[wordpix]

40. yeah well we're tired of bailing out their corporate-ass friends but small biz doesn't qualify

[paparush]

21. There was, what, one hour of "debate" on the war funding?

Jeezus f-ing christ.

[ozymandius]

22. I really want to see them run on this.

Who but a total asshole would vote for a Republican job killer?

[Botany]

23. We should win by 100,000,000,000 votes this fall

Keep it up assholes! Ready made campaign ads this fall; "Rep. Fill in Name (R) voted against loaning money so small businesses could hire
people that are out of work. So what is wrong with helping people, trying to create jobs, and lending out money safely to small businesses?"

"Vote Fill in Name (D) he/she really wants to help people help themselves."

[wordpix]

41. yah if the Chamber of Commerce would only stop spending $3 million/wk on their repuke ads

[defendandprotect]

54. Why has it taken Americans 40-50 years to recognize the evils of the Chamber of Commerce?

And . . . when are we dumping capitalism and its suicidal exploitation of nature,

animal-life -- and even other human beings?

:)

[Raoul]

76. Is China gonna vote too?

A hundred billion votes? Does that include the people in China? After all, they practically own all of our treasury notes.

[BadgerKid]

24. Frame this: filibustered unemployment benefits + blocked small-biz jobs

Who hates you? That's right, the Republican party hates you.

[w4rma]

25. Why does the money have to be passed through the banks to get to the businesses? (nt)

[defendandprotect]

55. Great question . . . and where is the bail out money we gave them... which they never lent out ????

Anyone asking Obama these questions lately?

We should have government making these loans --

what did the FED lend our money at to corps -- 0% . . .???

And then the banks turned around and bought Treasury notes/securities which

paid 3.5% and 4% interest!!

Sen. Bernie Sanders was kind enough to tell us that story!!




:)

[Frisbee]

72. So in essence....

We gave the banks multi-billion dollar loans with NEGATIVE interest rates.

[defendandprotect]

105. Well, Bernie Sanders himself doesn't know for sure of course . . .

FED is still keeping secrets --

but it is estimated probably 0% or a bit more ... .005% -- who knows?

But certainly it is very little --

Get tuned into Sen. Bernie Sanders -- he's willing to let loose with info --

One of the amazing things is that there is no pharmaceutical company that hasn't defrauded

Medicare!! Yeah, they paid fines, but they're still doing business with Medicare!!

Sanders appears with Schultz -- think he was on tonight?

Also frequently on Hartmann -- and other shows!

Plus, I get e-mail from him on issues --

Curiosity is a great thing!



:)

[Kweli4Real]

92. Because ...

It's a lot cheaper to guarantee the loans than to make the loans. Sure we don't get the interest when the loans perform and get burned when they don't ... but in my view, that's the function of government, government should not be in the lending business.

[defendandprotect]

106. Disagree -- government should be in lending business ... and that should

include covering college costs for every America -- we should just start a pool of funds on that.

We back all bank loans -- and we certainly have gotten "burned" -- !!

Again -- we gave banks bail out money to get them to invest in small business -- and

rather they invested it for their own profit!!

But still, no questions asked about all of that!!

[MrScorpio]

26. Fuck the goddamned Republicans

What a sorry bunch of evil assholes

[valerief]

27. Of couRRRRRRRRRRRRse!!!! The only way to help small biz is tax cuts for the rich.

:crazy:

[defendandprotect]

53. Right -- they're running $30 BILLION thru the banks to help small business ....!!!

Why not government loans?

Meanwhile, the bail out money went somewhere -- but certainly not to small

business?

But, why bother our "retarded" and/or "beautiful" minds about all of that --

!!!!

[CLANG]

28. I hope the Dems launch a blood-curdling series of ads pointing out

how un-American the pukes have been. If they hire Mel Gibson to direct the cinematography it's sure to be a Democratic landslide!! :sarcasm:

But I do think there is plenty of hay to be made if the Dems can develop a bone structure which will keep them erect enough to... oh well.

[wordpix]

42. one revision: Mel should do the voice overs

[CLANG]

82. LOL! That would get their attention!

[SoapBox]

30. They just want America to crash and burn...it doesn't matter who gets taken down...oh, except

...their white, fat, male, angry, stinking rich supporters.

[activa8tr]

31. Republicans are just disgusting pieces of .........

well, you fill in your own words.

WTF... I thought Republicans were PRO business!

30 billion for war, nothing for struggling small business.

[COLGATE4]

32. Headline: Republicans block _________________(fill in the blank) n/t

[BreweryYardRat]

33. Obstructionist asshats.

Man, they're not even trying to cover their asses now.

[CrispyQ]

34. Is this the same GOP that wants to extend the Bush tax cuts because it will help small business?

:eyes: :crazy: :crazy: :eyes:

:banghead:

[sakabatou]

35. Once again, Repukes just hate America

[Beartracks]

36. "Repubs say NO to [insert helpful legislation here]." n/t

[RainDog]

43. It is impossible to be bipartisan with the current republicans n/t

[laughingliberal]

44. The vote was 58-42. Wonder which of our turncoats sided with the assholes? nt

[offmybrain]

45. link to the bill

Has someone got a link to the bill? I'm worried the money will go to businesses and the they fail because of high unemployment & lack of consumer confidence.

[alp227]

48. Welcome to DU! Link is here:

Vote

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=2&vote=00222

Bill (HR 5297)

http://thomas.loc.gov/cgi-bin/bdquery/z?d111:HR5297:

[proteus_lives]

47. Dirty sons of whores.

[alp227]

49. Smoking gun for campaign ads?

"Republicans: The hypocritical party of No. No to unemployment benefits, no to health care reform, no even to lending to small businesses. Do they want America to fail?"

[HEyHEY]

59. I just thought the same thing. Someone who actually HAS Money should finance a campaign like that

[aquart]

50. They want to make sure there isn't a glimmer of prosperity on election day.

Unpatriotic bastards.

[mac56]

75. ding ding ding we have a winnah!

:thumbsup:

[GreenTea]

51. Republicans will do anything to stop economic growth before November elections & afterwards

With help from big corporations & banking who will not invest nor loan money while making record profits are helping republicans by keeping the economy at a standstill hoping that republicans will win a majority and stop & reverse all regulations and allow them to do as they please as they did for eight years under Bush....this is truly greed and selfishness at work here - They care nothing about this country nor it's workers or small business.

[defendandprotect]

52. Another really disgusting day in Congress . . . !!

[and-justice-for-all]

56. The obstructionist must be detroyed...nt

[DallasNE]

57. Another Republican Flip-Flop Of Huge Proportions

The most common argument the Republicans used against the recently passed banking regulation was that it put an undue burdon on community banks. Here we have a bill designed to help community banks with loans and suddenly they are against help for community banks. Do they have any idea of how stupid they look when they constantly pull this crap?

[HEyHEY]

58. UN FUCKING REAL. Why are they so fucking stupid?

[NewJeffCT]

68. Because they know the media won't call them on it

98% of the time.

[Hubert Flottz]

60. If the democrats are for it the GOP is against it.

All that matters to them is to bring Obama down, the country be damned.

[Triana]

62. The unpopular bailout of the financial industry was both necessitated and implemented

by Republicans.

[FlyByNight]

63. Oligarchy uber alles

The Republican'ts (and Ben Nelson) hate the middle class, the working class and the poor. More rights, either civil or economic, means less control (money and power) they can wield.

They are scum.

:eyes:

[Enthusiast]

64. K&R

Anything to further cripple the economy.

[Kringle]

66. welcome news. we don't need, more failed small businesses .nt

[Ikonoklast]

70. Ever start or own your own business?

[mwb970]

67. A great way to start my day.

Reading about more anti-American behavior from soulless republicans. Bah!

[NewJeffCT]

69. My newsaper's headline "GOP blocks plan to aid small business"

Which is pretty good.

[Name removed]

73. Deleted message

Message removed by moderator. Click here to review the message board rules.

[Turbineguy]

77. They are trying to help

Obama in his anti-business agenda. It's bi-partisanship!:sarcasm:

[Odin2005]

78. So much for the Pukes claiming they support small businesses.

The Corporatist Elites don't like competition.

[Jeff In Milwaukee]

79. I can't believe these guys are still a Major Political Party....

What's fucking next, blocking the delivery of mother's milk to new-born babies?

The Kitten Stomping Authorization Act of 2010?

Do people still actually intent to vote for these guys?

[orbitalman]

81. What the Repugs, in truth, are seen to be....

Why are many Repugs so cement-minded, they refuse to reject these filthy behavioral activities????

Even my brothers (family) are this way. And they don't even think about the injustice of their mind-set. They refuse to talk about it thereby creating estrangement.

:banghead:

[nradisic]

86. GOP = Greedy, Obtuse and Petulant

Unfreakinbelievable....

[joanmj]

101. Good one!

[ProSense]

89. No Lobbying Help for the Little Guys

No Lobbying Help for the Little Guys

Trade groups are silent on a $30 billion fund to spur lending By Mark Drajem, Laura Keeley and David Henry

In 2008, three of the best-known business trade groups in Washington blitzed Congress to approve a $700 billion bailout for Wall Street. Two years later, those groups—the U.S. Chamber of Commerce, the National Federation of Independent Business, and the National Association of Manufacturers—are missing in action as the smaller companies that account for the majority of their membership seek a $30 billion rescue of their own.

The silence is leaving car-parts makers, franchise owners, and community bankers to fend for themselves in pushing for a small business lending fund, which has languished in Congress since President Barack Obama proposed it late last year. The Senate could vote on the fund as early as July 29. The hands-off approach reflects the public backlash against government spending, particularly the Treasury's Troubled Asset Relief Program, which rescued the country's biggest banks but sparked populist ire. Federal spending has become a flash point in many of this fall's congressional races.

The measure would ease terms for loans guaranteed by the Small Business Administration, provide $12 billion in tax breaks, and issue grants to states for business loans. While lawmakers in both parties—and the business lobbies—lauded those provisions, most Republicans balked at a related $30 billion fund that would be used to encourage community banks to lend to small businesses. "This is as American as apple pie," Obama said of the bill on July 28, as he met with small business owners at a Tastee Sub Shop in Edison, N.J.

<...>

The major business groups, which together spent more than $47 million to lobby for tax cuts and against the Administration's health-care overhaul in the first six months of this year, haven't been moved by arguments such as Kersting's. The silence "certainly is peculiar," says Frank Knapp Jr., president of the South Carolina Small Business Chamber of Commerce, which is critical of the U.S. Chamber. "But it's not unusual that they lose interest when the money is going to community banks and small businesses."

The Bottom Line: Trade groups that lobbied for the big bank bailout aren't backing a $30 billion fund that could stimulate small business lending.

[NodQuestion]

90. gonna be a long rest of 2010

and an even longer 2011...

[Kweli4Real]

91. Democrats in congress should be ...

Pointing out the inconsistency of the republican tactics ... they claim that tax cuts for the wealthy will create jobs because many of those that would get the cuts own small businesses. Okay, for the moment, I'll accept that fallacy; but explain to me why we can't guarantee LOANS for them today?

And, okay this program IS like the bail-out of the banks. But guess what? The bank bail out worked! I know, I know ... yes, the bankers at the top siphoned off billions for themselves; but the bail out provided confidence in the market that got bailed out has failed, and most of the money has been paid back, with interest.

[Milo_Bloom]

93. I wish the democrats knew how to play the media game!!

They always talk in generalities, instead of specifics, while republicans do exactly the opposite.

When republicans wanted to get something through, they would focus on specific provisions of a law that people could easily understand. "The democrats are blocking our tax package which would eliminate the marriage penalty and death tax."

Here, the republicans are blocking the "small business lending bill". They don't make it personal. As someone who runs a small business, I have no clue how this bill may or may not effect me. When you speak in grand terms and generalities, "the small business bill", people can't relate to it and don't get upset. If you give specifics, ("The republicans are blocking a bill that would provide a $2000 tax credit to any small business that paid more than $15,000 in payroll taxes this year" (MADE UP STATISTIC!! I DON'T KNOW WHAT IS IN THE BILL!!) you would get more people on your side, because they would see how the passage or non-passage of this bill might change their lives.

Jesus Tap Dancing Christ Democrats... wake up and learn how to play this game already!

[craigmatic]

96. But I thought they were for small business. I guess their definition of small is multinational

corporations that really don't need loans in the first place.

[annabanana]

97. And THAT"S the way the headlines *should* read. .

rather than the usual "Democrats fail to pass small business lending bill . . . "

[AlbertCat]

98. make it difficult for Congress to pass the bill before lawmakers go on their summer vacation.

Then don't go on vacation until your work is done. I never could!

Besides, make that threat....to stay until it's done, and the Repugs will fold like a wet house of cards. They don't want to miss one second of their vacation. It's happened before, has it not.

It's so simple. MAKE THEM REALLY FILIBUSTER.... not just threaten to.

[Capitalocracy]

99. Funny, they link it to the bailout

But they didn't block the bailout. Interesting.

[Joey Liberal]

102. The republicans are Nazis. nt

[booley]

103. and yet the GOP says that small business..

.. is what drives the economy.

So if we take them at their word and believe that they believe what they say, then that means the GOP wants the economy to fail.

[BEZERKO]

104. And hopefully our friends

in the Democratic party will be able to take advantage of this.

[Lydia Leftcoast]

107. If the Dems don't shout this from the rooftops, then they have no PR smarts at all

I could see TV ads--

"The Republicans like to brag about how "pro business" they are. So why did they block a bill aimed at encouraging more lending to small businesses? Next time a Republican tells you that he's "pro business," check to see if he has a forked tongue."