"Obama to sign $42 billion bill expected to create 500,000 jobs"

[impik]

CNN) -- President Obama will sign a $42 billion bill to aid small businesses Monday. The bill seeks to create thousands of jobs and will offer about $12 billion in tax breaks.

Last week, the House of Representatives approved the Small Business Jobs Act by a 237-187 vote.

The measure is also expected to create 500,000 jobs, according to a summary of the bill from the Senate.

Among other things, it would authorize the creation of a $30 billion fund run by the Treasury Department that would deliver ultra-cheap capital to banks with less than $10 billion in assets.

The idea is that community banks do the lion's share of lending to small businesses, and pumping capital into them will get money in the hands of Main Street businesses.


http://edition.cnn.com/2010/POLITICS/09/27/obama.small.business.bill/?hpt=T2

[bluestateguy]

1. This may be the last big piece of legislation he gets for awhile

I'll keep my fingers crossed on killing the Bush taxcuts for the rich and repeal of DADT in the lame duck pond, but optimistic I am not.

[impik]

5. People will get what they deserve

[simmonsj811]

2. Kick!!

K&R

For the working people :kick: :kick: :kick:

[Demeter]

3. Why Doesn't He Just Give 21 Million People $20K each?

It would be cheaper, simpler, and much more useful. And 21 million would know where their next meal for the year was coming from.

[MannyGoldstein]

4. That would be "socialist"

Unless the recipients are bankers. Then it would be "responsible".

[vaberella]

13. What are you talking about? Do you not think of the logistical ramifications of this?

I mean seriously. How in any way does that seem like a logical thing to do? Without it appearing divisive or racialized in some way.

[cutlassmama]

6. +1

[CTD]

8. Um, $42B divided by 21M = $2000/ea

Which is a lot more than a single meal.

[Demeter]

10. My Error

That would give 2.1 Million people a $20k for a year--FOUR TIMES what this bill is SUPPOSED to generate in jobs, but won't.

[mkultra]

11. yeah right. WHICH 2.1 million people might i ask?

that would be a giant piss and moan from all corners of the country.

[Drunken Irishman]

17. Right. The other 290,000,000 people will ask where their money is.

[alcibiades_mystery]

20. Oy vey

You're not really this brain dead, are you?

[vaberella]

12. you want out right war on your hands about people stating---why does he get it and I don't.

does that seem logical to you. This way it gets divided up in a less----exclusionary way. then people won't say he gave more money to black people or indian people or latino people than white people.

[babylonsister]

15. What happens when the 20K runs out, or 2K? nt

[Demeter]

18. What Happens when 500,000 Jobs don't magically appear?

same thing.

[HiFructosePronSyrup]

19. Magic?

So you don't think this bill will create any jobs?

[babylonsister]

22. What happens when they do? Will you give due credit then? nt

[young but wise]

7. Good news.

:)

[Cha]

9. KR

[vaberella]

14. Great news. n/t

[old mark]

16. Great! I hope the media talks this up - I hope the President talks this up - this may

turn out to be very important legislation to get people working and I believe the timing it just right.

There will be more jobs because of this, and the Democrats did it-let's talk it up!

mark

[Dawson Leery]

24. No question that all of these actions are preventing

a depression.

[Uzybone]

21. will it be considered a failure if it only creates 490K jobs?

I wonder.

[cherokeeprogressive]

23. Some would call it a success if it only created 50,000... n/t