What does it have to do with private sector?
The private sector will not grow with new taxes.
Bottom line business does not trust Obama after watching what he did with the bailouts.
Did you catch that little two-step? Small businesses can get money for lending that comes from TARP but somehow…isn’t TARP. The distinction sounds like nothing more than window dressing, but why hide the truth? Maybe it’s because past TARP recipients (sometimes forced recipients) have been stigmatized and demonized by their association with this seemingly endless bailout fund. Or maybe it’s because businesses have learned an important lesson about TARP: where there’s a carrot, there will be sticks. Big sticks, and if I was a business owner considering an entanglement with TARP, I’d be more than a little wary of getting whacked.
Anyone can see that small businesses have been struggling. But even if President Obama assigned every last penny of TARP to this new TARP-redux for small businesses, he still won’t have addressed the real issue preventing robust private sector growth – the looming impact of smothering new taxes, mandates, regulations, and payoffs for Big Labor. These are some serious sticks that will beat down private enterprise with or without a loan from TARP.
If we continue down this path, the sustainable economic growth and long-term job creation we want simply won’t appear. Instead, we need to provide a commerce-friendly environment of lower taxes, lower debt, and lower spending. Not to mention we need to close down TARP to prevent the White House from using $700 billion of your money to bailout whatever company, industry, or sector it wants.