President Obama declared "good news" today, signing a new small business support package that he hopes will lead to even better news -- a reduction in the 9.6% unemployment speed.
"Small businesses make most of the new jobs in this country," Obama said during a signing ceremony in the East Room.
The measure includes eight business-oriented tax cuts, and speed up payouts on existing loan programs.
The recent collapse hit small business owners with a "one-two punch," Obama said. One, it reduced spending and cut insist for business products; secondly, the accompanying financial crisis tightened credit and made it harder to get loans.
The bill will not end the economic hold up, Obama said, adding that "we've still got a long way to go."
The bill will not end the economic hold up, Obama said, adding that "we've still got a long way to go."
But the legislation will assist, he said.
"It's going to cut taxes," Obama said. "It's going to make more loans obtainable to small businesses."
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