The Presidential Planner
EmailABC News' Sunlen Miller reports:
President Obama will start his day with a closed-door meeting with Senator John Kerry, D-Mass., in the Oval Office.
Afterward, the president will travel to Edison, N.J., to meet with a group of small business owners at Tastee Sub.
In a roundtable discussion and speech to the media afterward, President Obama will urge Congress to pass the Small Business Jobs Act being considered in the Senate.
The president will hold a roundtable with four small business owners on how the small business legislation that the Senate is expected to vote on this week will help businesses like theirs grow and hire more workers.
The White House believes that if it can get past Republican filibusters and get the bill to a final vote, then it will be passed.
“We do not see any reason for anyone to seek to hold up this bill,” counselor to the treasury secretary Gene Sperling said Tuesday on a conference call with reporters. “We believe that a vote on final passage of this bill will pass on bipartisan support and that there’s no reason for any one minority to seek to hold up voting on this bill.”
Small business administrator Karen Mills said there are more than 600 small businesses in the Recovery Act queue that will be funded in the days after the act is passed.
“What the president will hear is that these loans create jobs,” Mills said, previewing Wednesday’s likely discussion. “These benefits in the Small Business Jobs Act do translate into jobs. There is demand out there.”
The bill would establish a $30 billion small business lending facility run by the Treasury Department that Republicans have denounced as a "mini-TARP." Only banks with less than $10 billion in assets would be allowed to use the Treasury fund. These community banks — the primary source of credit for small businesses – would receive incentives to use the capital provided by the fund to extend loans to small businesses.
Afterward President Obama will head to New York City for a taping of ABC's "The View," for a segment that will air on Thursday.
“I think it is another opportunity for the president to talk to people where they are," White House press secretary Robert Gibbs said, "We made a decision to put the president on Jay Leno, David Letterman, 'The View,' because … people have busy lives and it's best to go where they are."
In the evening, the president will attend two DNC fundraisers in New York City.
The president will return to Washington, D.C., later in the evening.
-Sunlen Miller
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So Kerry and Obama will discuss the proper way to frame his upcoming trip the Teheran. What tools! The Iranian nuclear bomb is to be given another year by Obama-Kerry using terms such as constructive “hard” “no uncertain terms” time is “rapidly coming to an end”. Neville Chamberlain , Jimmy Carter, Barrack Obama and the haughty John Kerry, all proving if you can deny reality in a $2500.00 suit at least you can be a handsome fool.
Posted by: pauldia | July 28, 2010, 8:01 am 8:01 am
What does Obama even know about small business?What does he know about any business?Small businesses don’t need loans-they need customers and profits.As a small business owner the last thing I want to do in uncertain economic times is to assume more debt.Apparently Obama doesn’t understand that.Why isn’t he down in Caroline County today for the Jamboree?Why can’t he take time out from his “busy” schedule and drive 75 miles down I95 to be at the opening of a major fuction for the Boy Scouts?
Posted by: Nephron | July 28, 2010, 8:50 am 8:50 am
Maybe they will talk about John’s new yacht and increasing taxes on wealthy people.. 57 varieties of new taxes.. to be paid by honest non-politicians.
Posted by: Dontget818 | July 28, 2010, 9:26 am 9:26 am
Sunlen Miller, I read your piece. You sound as if you lean pretty heavily left.
So if I get this right, we had financial reform that is designed to fix the banking industry yet here we are asking for 30 billion in order to give loans to small businesses. What happened to the normal private sector activity of small businesses getting loans from banks? Why is the government sticking it’s nose in? Does the financial reform bill fix the banking problems or not?
The following struck me as odd.
“What the president will hear is that these loans create jobs,” Mills said.
That is without a doubt political spin.
Sunlen, you need to be able to spot such things and offer up some resistance to being used as a tool.
Loans create debt not jobs.
What a business hopes is that the debt they take on allows them to expand, pay back the debt and be left with more money as a result. If that happens then it could mean more jobs.
Posted by: Noz | July 28, 2010, 9:32 am 9:32 am
Noz, you sound considerably left of Sunlen. You have outlined the left critique of our current banking system, where the “banks” are allowed to engage in speculation instead of lending, and the fin-reg bill does nothing to address that.
Posted by: Flash Override | July 28, 2010, 9:38 am 9:38 am
Flashy, I don’t really follow you and that’s probably my fault as I am not sure what the fin-reg bill does. To my defense, other business associates I know don’t know what it will do for sure either. They are concerned that it will lead to trouble for everyone getting loans. If that’s true then we will need the government to provide loans? Yikes!
So are you saying that the fin-reg bill does nothing to fix the root problems with the banking industry?
Posted by: Noz | July 28, 2010, 9:55 am 9:55 am
The banks will begin to build the same kind of fee driven loan origination and securitization of debt that tipped the scale in ’08. Nothing has changed.. the printing presses are rolling, the suckers are being born each day and the lobbyists are lining up to write the rules not yet defined in the FinReg bill.
I love America.
Posted by: Dontget818 | July 28, 2010, 10:00 am 10:00 am
Jake Tapper is good at his job, however the majority of MSM needs to ask themselves are they selling their souls for a few pieces of silver? Why aren’t serious questions being asked of this lunacy going on in Washington? Where ar the real journalists hiding? Are there any left?
Posted by: Downwithsocialism | July 28, 2010, 10:35 am 10:35 am
…the Scouts are always being non-atheistic and stuff.. but he needs to take a look at a few, before their time in Afghanistan arrives.
Posted by: Dontget818 | July 28, 2010, 2:10 pm 2:10 pm
Jake might want to ask about the journalists agenda meetings.. and find out who in the administration is in on the meetings.. and how often.
Posted by: Dontget818 | July 28, 2010, 2:11 pm 2:11 pm
SchNoz, thats exactly what i’m saying. In the past, there was a line in between regular banking and speculative activity. When that line, that firewall that was established after the Great Depression, was crossed it was only a matter of time before the meltdown.
That was a bipartisan effort, with conservadems taking a leading role.
The other main difference between the current financial meltdown and the S&L meltdown is that in that case, hundreds of people went to jail. How many banksters have been prosecuted this time? None. The Obama record so far in prosecuting private and public corruption is a bit thin, as we saw in the recent cover-up of the Justice Dept and torture scandals.
The fin-reg bill solves neither of these problems.
What is in the bill could be good, like the major consumer protection parts. Unfortunately, the consumer protection office is housed inside the Fed. It also gives the government the ability to break up big banks when necessary. It also requires accountability from credit rating agencies.
The new capital and leverage requirements are a great bulwark against another crisis, but in the short term mean less lending as the banks clean up their balance sheets.
The main problem with these features is that regulators don’t always enforce the laws already on the books, like conflicts of interests, fraud, and the like. It really leaves it up to the current administration. If they want to clean up Wall Street they can, but there is no guarantee they will.
Posted by: Flash Override | July 28, 2010, 3:08 pm 3:08 pm
In a zero interest environment, all the banks have to do is borrow money at virtually no cost from the government, turn around and buy Tbills with it and sit back and profit. Why lend anything?
Posted by: Flash Override | July 28, 2010, 3:13 pm 3:13 pm
The new news.. is that the FinReg bill allows the SEC to maintain it’s none of your business stonewalling to outside inquiries.
Posted by: Dontget818 | July 28, 2010, 4:02 pm 4:02 pm
“.As a small business owner the last thing I want to do”
Now you’re a small business owner….my that resume seems to improve with each telling.
Way to work in the right wing fake outrage of the day about the Boy scouts, make you you get paid for that.
Posted by: Ryan C | July 28, 2010, 4:45 pm 4:45 pm
“The Scouts are not exactly the kind of kids Obama/supporters can brainwash into singing songs about him”
Yeah all the Scout have to do is take a loyalty oath at every meeting while all wearing the same uniform….ROFLMAO!
I’m just teasing about the boy scouts and scouts in general because your idiotic meme struck me as ironic.
The truth is if you want to see children being brainwashed, watch Jesus Camp.
Or any bible camp really.
“The Boy Scouts shouldn’t feel too bad that he snubbed them”
He should send the first lady instead…like Reagan did.
Posted by: Ryan C | July 28, 2010, 4:52 pm 4:52 pm
Ryan,what loyalty oath?Obviously you never were a Scout.How many astronauts were Scouts? How many men who walked on the moon were Eagle Scouts?What percentage of service academy cadets were Scouts?These are some of the best young men (and in Venturing crews young women) that this country has to offer.And Obama doesn’t have time for them during their centennial year.
Posted by: Nephron | July 28, 2010, 7:25 pm 7:25 pm
“Ryan,what loyalty oath?”
Weren’t you ever a Scout?
“On my honor I will do my best
To do my duty to God and my country
and to obey the Scout Law;
To help other people at all times;
To keep myself physically strong,
mentally awake, and morally straight.”
Though again, my words that followed that quip.
“I’m just teasing about the boy scouts and scouts in general because your idiotic meme struck me as ironic.”
Posted by: Ryan C | July 28, 2010, 7:52 pm 7:52 pm
The Scout oath a “loyalty” oath?That’s actually pretty sad.Maybe if you ever went to an Eagle Court of Honor you might understand what the words mean,what the aims of Scouting are.I think that Mike Rowe(of all people) said it best when he described the quest for Eagle( he will be at the Jamboree tomorrow.)To climb the Tooth,to canoe the Boundary Waters,to SCUBA at SeaBase are only secondary to the true aims of scouting of Scouting-preparing young men to be useful citizens of this country.
Posted by: Nephron | July 28, 2010, 8:21 pm 8:21 pm
The gay community, and by extension, the Obama administration has declared war on the Boy Scouts…
Everywhere the Boy Scouts are being sued.. Everywhere they are being isolated and attacked, their funding undermined…
Recently in San Diego they were tossed out of their traditional camp ground in Balboa Park…
It’s really strange to see a group so dependent on a civilized society to be so ardent in attacking civilizing influences in society… It’s not those that participate in Boy Scouts they should fear…
And why? Because the Boy Scouts won’t accept openly gay Scout Masters… But to do so, would be the end of the Boy Scouts… it is not about sexual preference… it’s about everything else…
Better they should cede this point… let the Boy Scouts raise young men in the way of the Boy Scout code… they will not be the ones the gays should fear later in life… It’s the others…
But there is no talking sense to some people…
Posted by: Quo Warranto? | July 30, 2010, 11:13 pm 11:13 pm