Economic action coupled with confidence will succeed
By Hilbert Morales
El Observador
We need not abandon that confidence we had as a community before corporate greed led us all down the garden path to near financial system collapse. Without governmental monitoring, the financial institutional greed ran rampant and unchecked. Honesty, integrity, and transparency were lacking and led to total distrust. Now, when minimal monitoring systems are proposed by the Obama administration, the minority party in unison and with no logic that can be understood rises to their fear of big government. Obama's administration must proceed as if no barriers existed to its agenda which deals with promoting 'the peoples business." That is the change we can believe in.
When everything in life seems to go well, it is easy to exude an air of confidence. After all, when things are going well; when employment was at high 95 percent levels; when we have a little extra money to spend, life is easier to enjoy. There is no challenge so it becomes easier to be complacent.
It is when things go wrong; when we do wrong that our confidence slips. And if things go badly enough, our confidence not only slips, but we seem to abandon it. The result is a miasma of loneliness where doing well seems impossible. Something goes bad every single day. It seems that is what the mainstream media dote on to the point that their listeners become insensitive to both the good and the bad that goes on.
The good news is the beginning of a growth economy seems to be on the horizon. Unemployment diminished slightly. Manufacturing is up slightly. The downward economic spiral towards another Great Depression seems to have been mitigated by all that money which 'We the People' provided to those overextended financial institutions.
On February 5, 2010, President Obama outlined the latest in a series of new small business proposals which expanded already successful small business programs to increase access to working capital and to help these small businesses refinance their debts. Two legislative proposals were sent to Congress. Both were designed to help small businesses access capital. Small businesses are the innovative creators of additional jobs and the new technology, which creates additional jobs. President Obama said, "The true engine of job creation will always be business. Today, we're taking another step towards assisting small business owners get the capital they need to grow and hire."
Small Business Administration (SBA) administrator Karen Mills said, "These proposals will provide us with two effective tools to help small business meet specific challenges brought on by the recession. First, in the tight credit market of the last two years, lines of credit have been cut for small firms. Raising the limit on SBA Express loans to $1 million will mean more small business owners will have quicker access to this source of capital to help restock inventories and support larger revenue sales, and literally take the next step to grow their business and create new jobs. Second, thousands of good credit worthy businesses find themselves caught by declining real estate values as a result of this recession. With many of them now facing mortgages coming due in the next few years, the ability to refinance into SBA's 504 loan will give them the chance to lock in long-term, stable financing, as well as protect jobs by protecting small businesses from foreclosure."
These two developments mean that expanded credit and capital will soon be available to small business if Congress passes this proposed legislation soon. We can expect the Republican minority to drag their feet. If they do, they will be helping the Independent constituency become even larger. They face a very real reality of becoming irrelevant because of their reliable and unwavering opposition to anything proposed by the President. Republicans need to take note when Jim McEntee repeated the famous quote: "Don't look for the flaws as you go through life. And even if you do find them, it is wise and kind to be somewhat blind and to look for the virtue behind them."
We know that we have more than hope, when the Obama Administration takes economic action coupled with the confidence that we will succeed. Finally, money is being placed where it will be supportive of the people's business. In the small business arena, the money small business owners spend will trickle out into the community and up. The Obama administration’s proposal for our economy, coupled with the audacity of confidence, will succeed.∆