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Subscribe to RSSPresident Barack Obama signed bipartisan jobs legislation Thursday that will help small businesses and make it easier for startups to raise capital, saying it could be a "game-changer" for entrepreneurs dreaming of founding the next Microsoft or Facebook.
Carolyn Kaster / AP
President Obama signs the Jumpstart our Business Startups (JOBS) Act in the Rose Garden of the White House.
"When their ideas take root, we get inventions that can change the way we live," Obama said in the Rose Garden, flanked by lawmakers of both parties who backed the bill. "And when their businesses take off, more people become employed."
President Obama signs the bipartisan-backed JOBS Act into law, which allows small business access to new lines of capital, and opportunities for individuals to start, or invest in new businesses.
He said the initiatives in the bill paralleled many of the provisions that he sought last fall in his jobs agenda to encourage small-business growth.
Republicans, who promoted the pro-small business ideas in the House, joined Obama at the signing ceremony, including House Majority Leader Eric Cantor, R-Va. Sen. Scott Brown, R-Mass., whose seat has been targeted by Democrats, also looked on as Obama signed the bill into law.
"This bill represents exactly the kind of bipartisan action we should be taking in Washington to help our economy," Obama said.
Cantor, speaking to reporters after the ceremony, said the bill was aimed at "the problem that we face in America today which is that our economy is lagging and our small businesses are having too hard of a time getting up off the ground."
Some Democrats, however, raised concerns that the bill softened investment protections enacted after the dot.com excesses and Wall Street meltdowns and the changes could lead to fraud and abuse.
Speaking to an audience that included small business owners, Obama indicated he's aware of those concerns and has directed top officials to "keep a close eye" on how it goes into effect
The main part of the bill would phase in Securities and Exchange Commission regulations over a five-year period to let smaller companies go public sooner. Firms that have annual gross revenues of less than $1 billion would enjoy this "emerging growth company" status.
The legislation may be one of the few accomplishments for a Congress stymied by partisan divisions heading into the fall elections.
The bill combines a number of bipartisan bills that exempt newer companies from SEC reporting rules in order to reduce costs and red tape.
Another provision facilitates the practice of "crowd-funding" in which the Internet is used to solicit a large number of smaller investors.
Senate Democrats were unsuccessful in their efforts to add more investor protections but succeeded in attaching one provision that requires websites involved in crowd-funding to register with the SEC. It also demands that companies seeking to raise money this way provide information on its financial status, business plans and shareholder risks.
Sara Hanks, a securities attorney and co-founder of CrowdCheck, a company aimed at helping startups, said the crowd-funding element will help make it easier for small companies to access capital but warned it will be up to investors and entrepreneurs "to protect themselves from deals that are too good to be true."
In addition to the emerging growth company and crowd-funding provisions, the legislation removes SEC regulations preventing small businesses from using advertisements to attract investors and raises from 500 to 2,000 the number of shareholders a company or community bank can have before it must register with the SEC.
Leave a Comment:
I notice that whiney Cantor in the picture- imagine that... a Repub who FINALLY is in favor of something (and on the same side of Obama) that is going to help the economy! You think the Repub Party is getting a little worried about the election?
Cantor is such the mouse.
not at all mark, not at all! lol! gopjobs.gov
www.commieblaster.com
Yeah, i hope obamacare goes through, so i can pretend im an illegal alien, work off the books and get free health care!!!! thanks libs, I AM SO EXCITED! THANKS FOR THE FREEBIES, AND HOPE YOU DONT HAVE TO WORK TO HARD TO HELP ME!!!!
You think the Repub Party is getting a little worried about the election?
This would have been unthinkable for 'bama if he didn't need to pander to the income-generators of the country.
Cantor is an incumbent up for reelection. He is searching for coat tails. Obama may win Virginia, after all ...
Russ, I think you would find not as many illegals 'work off the books' in the way you're thinking of. More commonly they use a false SSN so payroll taxes are being paid in under this number. Since its not really their number, they will never actually collect anything out of Medicaid or Social Security. I'm not saying I agree with illegal immigration, etc., but understand what is actually happening.
Go ahead, right wing. Find a reason to complain about this.
Retardicans would piss and moan if their own Jesus appeared.
small business going public are likely not small business. Additionally, the tax rates need to be lowered not raised on independent business owners if they want to improve the economy. In short, this is just a feel good project for the wealthy.
What we really need is federally backed low interest loans to consolidate debt that has been added trying to survive this economy for four years. I mean heck, they did it for the banks. Once our debt has been paid down, maybe we could start hiring and expanding again.
This will just end up another Solyndra. Giving money away to dreamers and thieves and not workers.
Mark, maybe you should come out of the Obama shell and actually READ about what happened here. Living in the DUMOCRAT ignorance that you appear to have doesn't help your comments.
Educate yourself
I love the way when it is convenient we are told that the President does not write the legislation but in this case you are giving him the credit. If you remember this bill was written by Cantor and the President had to push Senator Reid to even bring it up for a vote.
To the people that say the Republican complain if you read the article it is the Democrats who are complaining about the bill.
Careful JERRY, Democrats and Liberals don't respond well when you tell the truth that doesn't fit with the Libtard AGENDA...
They'll call you names, or avoid comments...that's all they have...
We can only try and maybe one day it will click that when the President shows leadership things can get done. On the other hand when he presents a budget that does not get one vote he is quiet except when he insults the Republicans who actually passed one
Just like the Republican he really is Obama is cutting taxes and regulations on business.
It won't help because that's not the problem. They've been cutting regulations and taxes on businesses since
the late 1970's and the middle class has continued to shrink and each successive economic downturn has gotten worse and worse.
This is just another giveaway to big business and the rich and will also help continue the growing gap between the rich and everyone else.
We are heading toward Banana Republic status and this will speed up the trip.
Obama keeps saying the unemployed have to wait for the "private economy" to save them instead of government assistance.
Let's take a look at the results so far:
Wall Street got massive assistance from the government and continues to do so.
How are they doing?
Better than ever. The Fat Cats are raking in the loot hand over fist.
Mains Street got very little assistance (compared to the problem and what Wall Street got) and as been told by Bush and Obama it has to rely on the "private sector"
How is Main Street doing? Continuing to decline. Foreclosures (due to get much worse again), 8.3% official unemployment rate (it's really quite a bit higher), continued rise in poverty, closing schools, cutting police and fire departments, cutting, cutting, cutting.
Conclusion: Massive government assistance works and they know it does.
Obama's basic strategy for dealing with the economy and getting re-elected: Talk like FDR, act like Herbert Hoover.
They've been cutting regulations and taxes on businesses since the late 1970's and the middle class has continued to shrink...
No, that would be George W. Bush.
This is just another giveaway to big business and the rich...
No, that would be Bush and the current crop of GOP wannabes (witness the Ryan plan).
Wall Street got massive assistance from the government...
That would be Bush.
If you really feel this way, why aren't you voting Democratic?
The biggest falacy of the last 40 years is that the Republican party is the "fiscally" responsible party, what a bunch of pie in the sky false concepts. That somehow tax cuts solve everything, The Bush cuts really solved the impeding economic collapse.
NOW the Repubnuts want to play nice? I do say, it's about time, but far too late to gain the country's favor.
OBAMA/BIDEN 2012!!!!
The Republican House has been passing legislation for years, like this one drafted by Rep Cantor. Unfortunately when it gets to the Senate "Dirty Harry" has been burying them, so they never come up for a vote. In this case Mr Obama forced Reid to move this one along by supporting it.
EXACTLY.
The 1929 Market collapse and ensuing Great Depression - Hoover (R)
The era of federal deficit spending begins in 1971 - Nixon (R)
The "Black Friday" market crash and 10.3% unemployment - Reagan (R)
The Housing, Wall Street, Bubble bursts, 2 Off-Budget Wars and Irresponsible Tax Cuts continue - Bush (R)
It's been a s-l-o-w learning curve on the part of the electorate to be sure.
Soupwithafork,
I don't think you do understand what's happening!
If you're an illegal alien working with a false SS#, and claim more dependents than you actually have. How are you contributing your fair share? If you think an illegal alien with a false SS# would never do such a thing, you really don't understand!
soup and william, when an employee gives me a false ss number, (not illegal, usually judgements or child support dodging) it is declared false and a tax return cant get filed on it. i am also notified, and then when asked to verify, they quit. so they get no benefit.
these illegals are the same ones with multiple drivers licenses and collecting multiple welfare checks and free health care.
illegal immigration is just another form of slavery by the libs. if we secured the borders, and made the ones here pay a 10,000 dollar processing fee and fine for breaking the law, and let them stay. if they dont like it, we can bus them to the other side, free of charge.
i am all for work visas for anyone that wants to work, as long as you can verify youre not a criminal. when you are a value to america, then citizenship shouldnt be questioned.
Too little to late from a non effective community organizer
@william
That means you would have to provide multiple false SSNs, one for each dependent, that's a risky (audit flags) and expensive (need to buy multiple SSNs) proposition. Not only that, but the multiple dependents will only affect withholding; medicare and medicaid deductions are not affected by number of dependents.
@russ:
Illegals are not the only ones defrauding the system. Plenty of legal immigrants and native born citizens do it too. But the only way to solve that is through enforcement and better information systems; both of which cannot be had with people that only insist on cutting budgets even if the return on investment is better than no investment at all.
Some people on this board are so partisan it's hysterical. The parties worked together to pass a bill they both seem to think will help the economy. Be happy!
Yes, this bill (like any other) may turn out to be a bad idea, but it is nice to see bipartisan support every now and then.
Congratulations on irony.
@ Jerry-1573453
As you make general comments while using name calling. Sorry, I see both views going back and forth giving very little input other than soundbites and phrases like "Libtard", "Repubnuts", "DUMOCRAT", "Retardicans". Everytime I see this type of "debating" I know I am dealing with a moron. Cheers to all the people in thier bubbles! May they burst!
What Businesses really need is a bill not watered down by the rightwing, all they care about is the 1% !!!
russ-2423574
How does it feel to be just one more in a long succession of low information commenters who don't understand what they criticize?
Where were these "Democrats" when the watered down "Stock Bill" was signed yesterday ?
Wait a minute....more to come on the GSA scandal Fraud, Waste, and Abuse.
Oh, note that Mr. Reid got off his duff and actually presented SOMETHING to the Senate floor for voting.
What did Reid present to the floor 'cause this is the first I have heard of it.
The bill that was watered down by the Republicans? Well they had to compromise since the house shelved the tougher senate bill. I think they figured something was better than nothing.
That's because another fallacy, the Obama administration HAS submitted budgets, the congress submits counter budget proposals lead by a Rep.Paul Ryan that will shake what's left of the middle class, cut deeply into what is known as the middle to lower middle income earners, but, the Huckabee's and Hannities sure make it sound like it's the Democrats of the Senate that can't pass a budget. This process is initiated by a Rep. Paul Ryan who somehow convinces electorate FOX news watcher Joe Schmuckhead that he can reduce the nations debt by 6 trillion with NO tax increases and that SSN and medicare won't be hurt at all.
Paul - What is SSN? You probably meant social security, that the Dems have denied all chances at reform and therefore have doomed it. And you missed the part that even the democrats did not vote for BO's budget and that the Dems refused to pass a budget when they had control of both houses and the presidency. Seems like they did not want to have anything on paper. It makes it easier to lie about it.
Meatless, hapless, feckless bill that DOES NOT provide the lifeblood credit that small businesses vitally need. Clear evidence that the community organizer extraordinaire never ran a business, paid payroll, or for that matter, was accountable for anything. The best way to start a "small" business is to donate to O'clueless' campaign, get a government loan guarantee, spend the money, rinse, repeat, rinse, repeat.
youre right urban. the credit americans used to enjoy was putting 20 percent down of their hard earned cash to buy any home, second home 15th home, as rentals etc. then the libs love the bill and they dont realize they could NEVER, EVER enjoy such an entreprenurial endeavor due to dodd frank. HOW SILLY, AND IGNORANT THEY ARE!
I would like to see a bill to consolidate bad and foreclosed loans for the borrowers, keep them in their houses and stop the abandonment and unsightly housing slump, but that would cut out the investment firms, mortgage brokers, real estate agents, and finance industry, which is a no-no. Low downpayment (3%) house loans have been around since the 50's, and are not the main cause of the housing decline, nor was Dodd-Frank.
Mr. Obama had to clean up the mess left by the MBA business friendly Bush administration that along with the Chamber, Wall Street, bankers et al drove this economy and the world's over the clift with their impressive "know how" on meeting payrolls....whoops ... massive unemployment slide, whoops... Uncle Sam ...we screwed up BIG TIME can we please have a $700 Billion dollar interest free loan to help us correct course so we can get on back to rewarding ourselves with ridiculous unearned bonuses...oh, and please don't tax us. This community organizer saved your bacon butt porky. McCain remembering his own ineptitude in the Savings and Loan collapse ran for the tall grass with NO IDEA what to do and Mr. Fix It Mtt said let "Detroit Go Bankrupt" ... GOP...meet THE WILDERNESS.
Ya know what, BS!
What businesses really need is sound fiscal policy But no, I am not talking about balancing the budget! What I am talking about is money lending that has higher than 0% interest! Damnit, the FED attitude right now is wrong! Increase the interest rate! Nobody right now can make any money but specuilators... Because the money they borrow to speculate with has 0% interest! and the money that companies borrow has more than 0% interest! @!$%# the FED!
My bookkeeping and accounting business has supported many truly small businesses over the last 7 years. This bill will not help ANY of them. The only 'small' businesses this will help are those large enough to afford sizable campaign contributions...
Yea, Obuma cleaned up the mess left by Bush. You people really live in a fantasy world don't you.
Lets see, we will just ignore the fact that the first thing Obuma did after taking office was to sign a Bush Bailout Bill and then had his democratic lap dogs in Congress create at least two more Bush style Bailout Bills one of which allowed the CEO of GM to retire with a multimillion dollar pension that included bonus the CEO earned for bankrupting GM.
We'll just ignore the fact that for the two years he had democratic control of Congress and Obuma never proposed his tax reform even though he could have gotten it passed as easily as the Affordable Health Care Act.
We'll just ignore the fact that Obuma created a debt crises in this country that not only reduced our credit rating, but took every families share of the National Debt from $45,000.00 to $122,303.00 in 2.75 years. By the way, a debt crises that still exist today because of Obuma's inability to lead.
We'll ignore the fact that Obuma was printing so much money, that not only did China(who holds most of the Obuma's debt) scold him like a child over it, or the fact that Obuma is creating an inflation that has driven not only our food prices to raise weekly, but everything thing else including gasoline.
And lets not forget December 31,2011 when Obuma signed into law a Bill that gives the Military the authority to detain indefinitely any American citizen on American soil for any reason without having to provide that citizen with their Constitutional protections. We'll just ignore this also.
Boy, I just mentioned the tip of the icebergs of Obuma's actions that we should ignore. After all, we only have 46% plus of our population living in or at the edge of poverty, our country is getting turn into a third world nation, and we have a President that not only believes the Constitution has out lived its usefulness, he's not afraid to publicly announce this belief.
I think I will close my eyes like the rest of you Obuma supporters and vote for Obuma because he's not Bush. After all, its more important that we vote against Bush, than elect a President who was born and raised in this country and has some understand of the American way of life.
The initial Bush bailout plan was just 3 pages, like the man himself...very short of thought. More was needed and (you're welcome) was provided. The cavalier notion of just walking away from the U.S. Auto industry thankfully too was not pursued and in a record short course reversal we're leading the world again not to mention the jobs (direct and down chain) that were salvaged and are growing anew again or the communities benefitting from the consuming multipliers of those wages. Out of control healthcare costs (highest in the world for the 37th best care) be they yours, mine, GM's or medicare's are also the main debt engine... it was the place to start reform. Tax reform was killed by low information, easily manipulated medicare dependent tea partiers who like their hero Joe the plummer were not the 1% percenters targeted to begin with but foolishly did their bidding in direct opposition to Joe and company's own interests anyway. The GOP congressional foot-dragging was responsible for the credit downgrade...look it up. And gas? Gas was $4 before...did you forget. The Bush-Cheney oil administration blazed that trail for their buddies sometime ago.
What Happened, don't lecture the rest of us on President Obama's "beliefs" on the Constitution. I realize rightwingnuts don't respect the "elite" liberals who went to Harvard or were members of the Harvard Law Review (President of the Harvard Law Review at that). Oh, well. Not all of us can be uneducated, intolerant, backwards-thinking numbnuts.
gopjobs.gov. this has been on the table awhile. next, getting rid of baracalypse, dodd frank, obamacare, reid and pelosi. what a wonderful world it would be.
And go back to Republicanism??????????????????? That will solve everything, like The Great Bush Depression.
Why do people keep blaming Bush?
Regan started the destruction of the middle class and anybody who works for a living. The Employment Protection act of 1984 did egregious harm to working people by eliminating recourse for abuses by employers. The Bush tax cuts are extremely stupid, and so are the unfunded Bushwars, but the serious inequities started with Regan.
Finally, one of the 27 jobs bills, created in the House, gets actually addressed and voted on in the Senate and gets signed by the Pres. Must be an election coming up! Thanks GOP!
Must be the only "jobs bills" the Right proposed that doesn't call for big tax breaks for the 1%..Nevermind it's mostly stuff that Obama has already proposed..Hence, "the initiatives in the bill paralleled many of the provisions that he sought last fall in his jobs agenda to encourage small-business growth."
dahly: Better take another look at those job bills...majority have NOTHING to do with creating jobs.
I am glad one of the real jobs bills was passed...but most are not jobs bills.
Dragon, maybe next time you should attempt to validate what you are saying as accurate instead of just believing the HYPE of Obama, as you are not telling the truth.
But HEY, why bother with the TRUTH, Libs don't need that, do you?
Simply delusional.
Dahly, this bill had not mentioned the E.P.A.. Can you tell the differance when the bill has no political "pork"?
Thanks GOP!
What, are you, nuts! The GOP hasn't done anything to increase jobs in this country! As far as your f'in bills in the Senate go, nothing more than gifts to the major companies that will reward Republicans for their hard work with more campaign funds...
America... best laws that money can buy (especially under Republican managership)
Which one of those 27 bills is really about jobs ? none.....
Those bills are mostly highly partisan attempts to slash regulations that protect, among other things, public health, consumer rights, workplace safety and the environment.
This low life, Ceasar Obummass will sign anything to get another term.
Az: Calling names just make you look like an petulant child....are you 12?
Dragon, calling names just makes you look like a petulant child..are you 11?
As one would have to be younger than those who accuse one of doing what they just did?
LOL...LOL...LOL...
'Legislation' is the PROBLEM, not the solution
The funny thing about that statement is that in order to undo legislation you need.... legislation, hahaha.
Catch 22
Obama, is the worst thing to ever happen to the U.S. He is clueless, to what America is about,
AZ: And what exactly has President Obama done that is, in your words "the worst thing".
And why is he clueless to what American is about?
And lastly, do you think Romney has a clue to what America is about? The man who has 4 homes, who can make $10,000 bets, who is building a car elevator in one of his homes, the man who was raised in a wealthy influential home? Whose wife has several cars. The one who has 5 children and not one of them is/has been in the military, yet Romney is willing to send other people's into war?
If you need to ask that, the you you have an agenda.
A bunch of money grubbing selfish bastards may be what your America is about, but not mine.
Oh Dragon, where do I start; lets make a list:
- Still fighting wars he said he would end when he was running for president
- 8 TRILLION in deficit spending and we're poised to add another 1.2 TRILLION next year so far. By the way, that more than doubles the national debt since the BEGINNING of our Country.
- Unemployment still over 8% and over 9% for most of the last 3.5 years.
- Has tossed the Constitution out the window to cram health care reform down our throats; we can only hope to God the Supreme Court does what's right and tells him to stick that lovely piece of legislation. What we really needed is insurance reform because that's the real problem; now, the insurance companies decide who gets paid what and how much they charge you for premiums. They will makes countless BILLIONS of dollars in profit if this law stands as it's written.
- We're poised to have the highest gas prices EVER in this Country with him doing NOTHING to abate that. Oh, that's right, he was going to take away the tax breaks they get; who do you think the oil companies will come to to make up for that lost revenue.
- Housing prices continue to go down and housing starts remain down.
Seriously, do I need to go on. You can delude yourself all you want but, facts are facts so take off your Obama blinders and see what's really happening in this Country.
What does, "'the you you have an agenda" mean in English??
I love learning about new languages !!!
Please Arizona tell us what America is about.
AZ,
Please elaborate your accusation with facts please..
There's K12, the true Obama Koolaid boy, that bashes Republicans, but has no realization of any accountability for Democrats...LOL...LOL...LOL...LOL...LOL...LOL...
zzzzzzzzzzzzzzzzzzzzzzzzzzzzz. Ground hog day everyday for the Republicans.
Sorry, Bush is the worst thing to ever happen to the US...
SWtarted with $5.8T debt...
ended with $11.9T debt...
nobody can or ever will top that!
wrong AGAIN ee - Bush looks like thomas Jefferson compared to the turd currently in the WH
To all die-hard republican voters and tea party members, lets just say there's enough of you that believe the problems with this country is the fault of President Obama and the Democrats, and you somehow manage to give the White House and the states to republicans. What are you going to do when the republicans you just elected start cutting off government programs they told you they would ? These cuts need to happen to balance the budget? You better be getting one hell of a paycheck to pay for the things you're gonna have to buy. If you or a family member receive medicare and they give you or a family member a voucher for medical services, and the voucher is not enough to cover your medical costs, you have to pay the rest of the money. If you or a family member is on SSI, disability, or welfare and those liberal government programs are cut off, how are you going to live? If your wife needs medical services that your boss says is against his religious beliefs and refuse to pay for it, that money must also come out of your paycheck. Since republicans have cut or ended government sponsored college grants and loans, your kids college education must also come out of your paycheck. Republicans have abolished unions because they hinder jobs growth, and your paycheck and medical insurance has been cut so companies have more money to hire new people. Public school funding will also be cut, so you must pay for your small kids and teenagers education. To republicans, we do not need any of those tax and spend liberal programs, Americans will be proud to pay for these things themselves. The list of things right now that all of us take for granted to get us through our daily lives will be no more, and just what do you think republicans are going to do with all that extra money, you, me and everybody else know they're going to give the rich that trillion dollar tax cut. Vote republican, just make sure you have no problem paying dearly for it.
Let me tell you a story which I know is true because I'm living it as we speak. I have been working on getting an SBA loan for my company since JULY of 2011. The loan was approved long ago, now I'm fighting through all the red tape the damn government has put into getting the loan finally funded. My latest setback was having to get yet another Phase 1 environmental study because a property I'm putting up for collateral is 3 blocks from a gas station; what the hell difference that makes only God knows because no one at the SBA can answer the question, they just know I have to have it. Thank God I don't need this loan to keep my business going because I would be out of business if I did. You want to help small business in this Country, wipe out these bull@!$%# requirements so it doesn't take a year to get a simple SBA loan.
SBA is a joke. The red tape is massive. Also, the banks don't want to loan money in this market. They talk a good game but very few people get investment loans. The only ones getting loans are from the department of agriculture...those loans aint for mom and pop. Those loans run 5-10 million range and basically prop up the big boys who have the market edge already. Obama can brag about low unemployment when there is 6 million less people in the job market because they gave up looking.
Gforce, it is ironic you run a business yet leave out so many details. Could your property, the collateral, possible be a source of contamination, and not the gas station 3 blocks away?
and when you fail, that will be yet another Obama bashing point. I call BS! You don't mention what kind of business, do ya? What the hell kind of business are you asking for a loan for? You don't want to mention that, do ya?
GEF
You hate everything the government does, then turn around and try to get a loan from who?
oDUMBo should bend over for the congress for giving him something to sign instead of shooting off his hoof in mouth.
The only one's at this stage of the game, are "Obama look's like me", on "Welfare", or government educated?
Senate have NO budget in 3 years. Obama is MIA when it comes to ANY comments on this.
House PRESENTS 2 Consecutive Budgets, Obama blasts both, says they are "partisan" though MANY parts resemble things within HIS.
Senate VOTES 97-0 against Obama's 2012 Budget, Obama says NOTHING.
Seante REFUSES to allow VOTE on Obama's 2013 budget, Obama says NOTHING.
Economy has "SLIGHT" improvement after Republicans TAKE mid-term elections of 2010...OBAMA Talks.
Obama LIES about Judicial Oversight OR he didn't know as a Lawyer...You decide...2 days later BACKTRACKS and RETRACKS.
Funny, Libs and Dumocrats on here have a SHORT memory or are ignornant when it comes to reality...
BUT hey, who's bothering with the FACTS...
Right Feisty? Right K12?
OH, attack me, it's ALL you can do...Kill a Liberal discussion with the TRUTH, they can't take that...LOL...LOL...
Jerry, like the man said you would have a problem with your own Jesus reappearing at this time.
Well, funny you should mention that, Jerry...
George W. Bush never had any problem passing a budget or raising the debt ceiling!
Debt ceiling 2000-2008
Now, tell me, are Democrats really the problem with government spending?
Obama's already over $15 trillion in just 3 years, another term and we'll be Chinese citizens.
EEngineer, why are you trying to have a pissing contest? Bush was wrong and Obama is wrong. I don't cae which party initiates it, but the government has to stop spending our money. Social Security and Medicare are going to bankrupt us.
no, defense budgets are going to bankrupt us !!!!
Defense doesn't have a budget. Just authorization to spend.
Shill -
FYI -
Entitlements make up 60% of the federal budget - when there is one - while the entire DoD gets less than 20%.
So please explain how defense spending (which is actually mandated by our Constitution, unlike entitlements) is 'bankrupting' this country. Isn't it much more likely that it is entitlement spending (which is NOT mandated by the Constitution) which is the driving force behind the debt?
Oh, and the DoD includes things like the FBI, CIA, and Homeland Security, bisides the military.
Tammy, fyi
"entitlements" as you call them are funded by working people, FICA and Medicare tax, and are not adding to the deficits. and I would also point out they shouldn't even be in the budget.
Only through the use of the fraudulent "unified budget" can Social Security and Medicare payroll taxes be considered to be available for use for NON-Social Security and NON-Medicare purposes. The idea that spending money raised FOR Social Security and Medicare ON Social Security and Medicare is contributing to the deficit is crazy!
The fact is the Social Security and Medicare trust funds have been used to finance NON-Social Security and Medicare spending. Currently, the federal government owes the Medicare Trust Fund (hospital and supplementary medical) $347.521 Billion and owes the Social Security Trust Fund (old age and disability) more than $2.669 Trillion.
spending on wars and defending every other nation in the world are the real problem !!!!!
Wow! Finally a bipartisan effort that becomes a reality. Too bad this did not happen on bills such as the stimulus bill and the health care bill. Perhaps a truly bipartisan effort would have resulted in laws that really did the jobs that they are suppose to. Particularly in his first two years in office, it seemed that President Obama's reaching across the isle was with middle finger extended. I hope that we will be seeing more successful, truly bipartisan efforts in the future.
Wow!! Republicans WROTE something that Obama signs off on and it's suddenly call "bipartisan".
Meanwhile Harry Reid tables over 30 bills out of the House, and then he, Pelosi, and Reid attack the Republicans as "do nothing". NO negotiations, NO commitee talks, NO vote on the floor allowed by Senate Democrats, and even NO budget from Democrats in almost three years, and yet it's the Republicans that the left keeps calling "the party of no".
Cheryl, the party of "No" comes from the filibuster prone Republican Senate, circa 2006-2010. How soon we forget. Remember Republicans used the filibuster more in that 4 years than at any time in our history.
Awesome and a good idea taken from one of Ron Pauls issues he supports. Go Obama, keep watching the GOP candidates and taking the good and leaving the bad. Now if he would only bring all the troops home and secure our border from terrorist with the newly home troops he just might get my vote again.
He can also stop this Obama-care thing and if he insist on mandating people to pay for it he should also heavily regulate the prices we pay for services. Its only fair, if he is going to punish the uninsured he should also punish those that make affordable care difficult. Why should a doctors visit for my 5 year old with an earache cost $40 -70 w/o insurance, for a 15 minute session. And why is a Motrin in the hospital $20, when you can buy a whole bottle for less than $4 at the store? These are the questions/problems we need dealt with. Next time you go to the doctor or hospital, ask them to give you a detailed bill and you will see some ridiculous charges and if you see too much lumped sum amounts for "services rendered" ask them to explain those charges. You have every right to ask what they are charging you for bc its your money they are demanding for services that, just like your job, serve the people and add to the collective well being of our nation and planet.
get your vote AGAIN??? you mean you voted for him in 2008?? how humiliating - but I guess admitting your mistake is part of getting better/ smarter
Well it is just another reason to be careful who you believe!!! We didn't exactly have the ultra elite running for POTUS, now did we?
"Obamacare," as it is being called, includes the Affordable Care Act which does exactly what you are talking about. What it boils down to is: if you are too poor to afford premiums, then you will receive no penalty for not buying insurance. Also, it adds regulation that prevents insurance providers from raising premiums without providing a reasonable explanation, and it makes it illegal for them to discriminate (deny or increase premiums) based on pre-existing conditions.
So the health care mandate, if you look up the details, does nothing but add a penalty for people who can afford insurance but choose not to buy it. This is reasonable because in this country, doctors in the ER will treat you with or without insurance. People who abuse this privilege drive premiums and health care costs up for the rest of us.
Not at partisan point, just sharing what I've read.
Only 3 years too late. That Obama is johnny on the spot.
Obama out there crowing about "recovery". The left wing shoe lickers here in this blog talking about "recovery".
Let see now:
Current debt; 15.5 Trillion dollars, up over 5 Trillion dollars in just three years. 2016 debt under current spending, if NO spending bill of any kind is passed between now and then, at least 22 Trillion dollars. Current deficit for FY2012, 1.3 Trillion dollars and we've STILL got almost 6 months left in the year.
Unemployment at 8.3% and hasn't been below 8% since January 2009, the month Obama was sworn in. And yet even after OVER three years, all we hear is "inherited". And the REAL numbers of unemployment are, 13 Million Americans drawing unemployment (the 8.3%), 2.6 Million Americans not working but not even counted as unemployed (another 1.6%), and 8.1 Million Americans working part time, so also not counted as "unemployed" (another 6%). So in REALITY unemployment/underemployment is somewhere in the neighborhood of 17%.
Up to two Million homes will be foreclosed on this year, since the "robo-signing" crap has been settled. That will be up from the 1.1 Million homes forclosed on last year.
Gas is an average of $3.83 a gallon, over DOUBLE the $1.81 it was when Obama was sworn in. Food prices which went up on average 5% last year, are expected to increase 9% or more in 2012. Hardly good news to millions on fixed incomes.
But by God, the auto UNIONS are doing well, as they now own 60% of GM, and gave themselves over $7000 apiece in "bonuses" for their record profits and didn't pay a DIME back of the over 26 Billion dollars owed to the American taxpayers that bailed them out.
And of course let's not forget those state and local public employee and teacher unions that received tens of Billions of Federal taxpayer dollars while NEVER working a single minute for the Federal government.
And of course the "green" companies that received Billions of taxpayer "grants" and "loans" and then proceeded to go belly up. But remember, the CEO, executives, and investors NEVER lost a dime because they were "guaranteed", while the American taxpayers took the loss, so that surely has helped "recovery" somehow. Interesting also that over 75% of these "green" companies that got all this money just happened to be Obama bundlers, staff members, and Democrat Party supporters too. What a coincidence!
Yeah, that all sounds like a "recovery" to me.
Thanks for signing that Small Business bill Barack. Now please, pack your bags and go back to Chicago. I'm sure Rahm can find you another slum lord gangster there that can get you a good deal on a house.
Hey! What's Rep. Cantorwont holding in his hand???!!! Someone please get that traitor away from my President!!
Gee, what a well thought out, well researched comment les.
I can see how you've influenced thousands with your comment..........to vote for anybody but Obama.
All those republicans in the picture will not have a job come November. Too bad they won't be able to attend President Obama's second swearing in.
ROTFLMAO
Yeah, just like in 2010 when you talking about how Republicans would NEVER take the House and every Democrat would be re-elected.
Keep those great calls coming MSgt.
And you know, it's pretty disgusting that a retired Master Sergeant would even support this so called "Commander" of our Armed Forces. He's made it clear that he wants the military chopped down to the absolute MINIMUM.
But then again, you've got yours, right? To hell with the rest of those serving or wanting to serve.
Ahhh, but those Republicans in 2010 were elected on jobs, jobs, jobs...
How well have they fulfilled those promises? In fact, just WTF have they done? Frankly, I think that they will be judged... poorly!
EE -
Actually, they were elected on the platform of stopping the run-away train wreck that the democrats have caused with their wanton and reckless spending of thx monies.
Well, I was at least hoping to see some bi-partisan comments, but I see I am deluding myself.
This isn't a bipartisan bill. This is a business as usual, lets save our own behind bill cause polls show americans might even get a little fed up with both sides and accidently vote some of the pigs out.. Half these companies shouldnt' have been regulated in the first place..... It cost nothing to either side. That's why it is touted.
I love it - after 31/2 years of bieng the biggest blockade to any kind of recovery - getting our credit downgraded for the first time in the countrys history - spends the country into the deepest debt in our history - obama signs one minor bill - basically saving small businesses from more of his "help" and the media gushes and fawns like obama really accomplished something
My, my after nearly four years of rejecting everything this President has offered. All of sudden, the tea holes and republican'ts are starting to compromise....hmmmmm, you don't suppose it has anything to do with the upcoming election, do you????
let me help you truman - opposing obamas bad, fiscally unsound policies thus preventing more obama damage - is EXACTLY what we want the TEAHOLES TO DO - you should thank them
Wrong, wrong, wrong! Doing nothing cannot constitute something!
Once again, all you Republicans are trying to rewrite history! How about trying to make history?
Obama damage? Sorry, he was too busy trying to undo Bush damage to create any of his own! You know, Bush, "he who must not be named" for fear of trashing the Republican name!
In EVERY way the health of an economy can be guaged - things were FAR better under Bush - eengineer - you REALLY dont know what your talking about
just more pandering for votes from the lying, distorting, divisive president.....he will do or say anything for a vote...ANYONE BUT obama IN NOVEMBER!
Wow! The party of NO, starting to wake up in an election year. Imagine that.
tone-2675402 ... you know they're (GOP) only trying to make up with the country for their crap of the past 3 years. Their behavior has been outrageous and they have more for us!
SBA ???? really the SBA says that a SMALL business is between 500 to 2000 employees , i think that's a business all ready, I'm thinking a SMALL business is for the folks like me that have 10 to 20 that would be looking to grow in their field and create jobs ,not to be able to pay the stock holders more and more
Agreed - or maybe a loan to someone who has a business that they want to start? 2 or 3 employees at the beginning? Unless you have big $$ to put down and not just sweat equity, you don't stand a chance with SBA...
Used to be sweat equity meant something...to many abusers maybe?
Maybe I'm old school but I believe that if someone is willing to help you build something, you better be busting your a$$ to make it work.
12/14 hours / 7 days a week - real sweat equity, does this even exist anymore?
Sad