Speaking on NBC’s
“Meet the Press,” Obama’s chairwoman of the Council of Economic Advisors Christina Romer stated that $730
million of the $787 billion stimulus package would be available to help owners of small businesses via reduced lending fees
and higher loan guarantees. “We know that small businesses are the engine of
growth,” said Romer. “We absolutely want to do things to help them.”
If the administration
believes that small businesses are the engine of job growth, it is unclear why it would allocate less than one-tenth of one
per cent of the “stimulus bill” funds to stimulate small businesses. Further, the $730 million allocated to help
small businesses at a time of economic crisis is even less than the $900 million the Obama administration previously pledged
to the Palestinian Authority. Some wonder about Obama’s priorities, when more money is given more quickly to people
who hate the United States than to those who maintain the engine of the American economy.
$730 million for the 23
million small businesses in the U.S. averages
out to only $31.74 per business if it were to be disbursed equally.
