In case any small business owners have had any doubt about the president’s priorities when it comes to the economy, President Obama has stated that small businesses are essential the American economy and has noted the problem that small businesses have nowadays in getting credit.
Obama’s weekly radio and Internet address gave the President the opportunity to urge America’s banks to step up their lending to creditworthy small businesses, stating that it is the banks’ responsibility to finance the small business engine. He also announced several programs that would spur lending, such as capital injections into community banks that would allow …read more

The Obama administration has begun patting itself on the back for its progress in helping many troubled homeowners to avoid foreclosure due to its various federal programs. However, an oversight panel has released a statement criticizing President Obama’s program, warning that it will actually end up leaving millions of Americans vulnerable to losing their homes to foreclosure.
The Congressional Oversight Panel, a group created to keep an eye on taxpayer bailout funds, has said the administration’s predictions of how many homeowners the programs will save are vastly overstated. According to the COP, the program would most likely only prevent less than …read more

President Obama prepares to try and convince the country that prudent, simple regulations can protect us from another major financial meltdown.

President Barack Obama has announced that he plans to institute trade penalties to slow the number of tires for cars and light trucks coming from China. While China is angered by the decision, the United Steelworkers are smiling.
Leo W. Gerard, the United Steelworkers International President, says that the President’s decision will help American workers.
Said Gerard: “For far too long, workers across this country have been victimized by bad trade policies and government inaction. Today, President Obama made clear that he will enforce America’s trade laws and stand with American workers.”
The United Steelworkers say that the lax trade laws have allowed …read more

President Barack Obama spent a majority of his weekly radio address on Saturday talking about steps he has planned to make saving for retirement an easier task for workers in the United States. According to Obama, about half of workers in the United States don’t have retirement savings account through their job.
Obama discussed how the problems started even prior to the recession.
Said Obama: “The fact is, even before this recession hit, the savings rate was essentially zero, while borrowing had risen and credit card debt had increased. Many were simply struggling to stay afloat as incomes were stagnant (or falling) …read more

Van Jones, who was the Special Advisor for Green Jobs, has resigned. The President Barack Obama adviser decided to step down as the controversy about his past continues to build.
One of the two main issues is the fact that Jones signed a 911 Truth Statement in 2004. The 911 Truth Statement questioned whether or not the United States federal government was in on the 9/11 terror attacks.
The other main issue is in regards to a response he made earlier in the year in February when he was aked why Democrats were having trouble taking advantage of their current control in …read more

Many experts around the United States and around the world have praised Ben Bernanke, who was reappointed as Federal Reserve Chairman by President Barack Obama earlier in the week, as a hero. Faced with the possibility of another Great Depression, Bernanke has been credited for taking unusual and inventive steps to keep America’s economy afloat during the recent rough financial times.
However, not everyone is happy with the job Bernanke has done. The National Inflation Association is one such group that doesn’t think highly of what Bernanke has done. In fact, the group believes that Bernanke will go down as the …read more

Once a prominent investor and fundraiser for the Democratic Party with ties to Barack Obama and Hillary Clinton, Hassan Nemazee has now been accused of lying about his assets in order to secure a $74 million loan from Citibank. According to the federal complaint filed against him, Nemazee forged documents that tried to depict that he owned accounts with several million dollars worth of collateral.
 
Nemazee was a national finance chairman for Mrs. Clinton and has also maintained ties to a variety of prominent political figures by inviting them to his Park Avenue home. Now, though, he faces one charge of …read more

The extremely popular Cash for Clunkers program will live on. After the American public took advantage of the program for one billion dollars, the program was running out of money. On Thursday, Cash for Clunkers got an additional two billion dollars.
Barack Obama, who released a written statement after the vote in Congress to get the funding, was happy with the news.
Said Obama: “Cash for clunkers has been a proven success. The initial transactions are generating a more than 50 percent increase in fuel economy; they are generating $700 to $1000 in annual savings for consumers in reduced gas costs alone, …read more

Barack Obama wants universal health care. Tony Perkins, the President of Family Research Council Action, strongly disagrees. On Thursday, he unveiled a new television commercial that voices the organization’s feelings. Video of the FRC Action commercial can be seen at the end of this entry.
The commercial will run in five states: Nebraska, Louisiana, Alaska, Arkansas and Pennsylvania. Viewers who watch the commercial are urged to contact their Congress representatives to voice their displeasure.
Said Perkins: “In a world of health care rationing, the elderly, the handicapped and the frail are the most likely to lose their lives because care was delayed …read more