SmallBizResource Blog -- Government
Noon ET Today: Obama To Detail Plans To Boost Small-Business Lending
The news is abuzz about President Obama's plan to make borrowing a more attractive proposition for small business.
Details are set to emerge today at 12 p.m. ET. bMighty publisher Fredric Paul provides this overview about the initiatives we can expect to learn. The briefing comes on the same day a new CNN poll that reveals a whopping 63% of Americans believe the economy is the most important issue facing the country -- three times higher than the 13 percent who felt the same way last April.
Appearing on Sunday's Meet the Press, Christina Romer, who heads the Council of Economic Advisers, said the government would pump "a significant amount" of money into boosting small business lending, though she didn't say exactly how much that translates to. According to Bloomberg, the amount will be more than half of the $730 million in government funds set aside to help small businesses.
Not to look a gift horse in the mouth, but do the math and you'll discover that total is $75 million less than the dollar value of bonuses doled out to AIG employees post-bailout.
Just sayin'.
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