WTF Has Obama Done? - Issue No. 022 - Commerce, Trade & Technology

I remember reading, not even a month or two ago about President Obama asking congress for more power to streamline and reorganize the federal government.  He asked to be able to combine several agencies into one that would primarily deal with commerce and trade, including the Small Business Administration.  We'll see what happens, because you know how the REDs are only about making Obama a one-term president - that is their number one goal according to Mitch McConnell.  I ended up finding an article on the President's plan, you can read it here.

But long before he asked congress for help on his new, bold plan, he's been working on his achievements and promises.  We are going to look at three WTFs today, one concerning a broad policy, one in regard to funding and a targeted action - all having to do with technology, commerce and trade. 

WTF-64

Promoted internet freedom as part of U.S. foreign policy.

Secretary of State Hillary Rodham Clinton in early 2010 urged China to investigate cyber intrusions that led Google to threaten to pull out of that country – and challenged Beijing to openly publish its findings.

"Countries that restrict free access to information or violate the basic rights of Internet users risk walling themselves off from the progress of the next century," she said. Clinton said the U.S. and China "have different views on this issue, and we intend to address those differences candidly and consistently" as part of a cooperative relationship. [Read More]

***

In early 2010, Larry Downes over at c/net wrote an article showing how clear the White House was in developing an ambitious new plan to support information technology that previous administrations simply didn't have. The emerging emphasis on IT could lead to very positive developments, particularly for Internet companies and users.

There's no doubt that the plan will make universal broadband access for all Americans a national priority. Universal access will be defined as affordable, high-speed Internet availability throughout the United States and will rely on a combination of fiber, cable, satellite, copper, and high-speed wireless. (I heard no mention of broadband over power lines, a technology that has shown promise but has so far been held back by regulatory inertia.) Set-top box technologies that will make televisions act more like computers are also critical, particularly to lower-income Americans.

The administration believes that an aggressive rollout of higher speeds and full coverage will translate to faster economic recovery and increased competitiveness for U.S. businesses. Although broadband Internet access is currently available in 90 percent of the United States and installed in roughly 73 million homes, as a percentage of population, the U.S. currently ranks eighth in overall broadband penetration. [Read More-1, Read More-2]

WTF-65

Expanded loan programs for small businesses.

"the Small Business Administration's loan and micro-loan programs which provide start-up and long-term financing that small firms cannot receive through normal channels." were President Obama's words and promise during his campaign in 2008.

President Obama gave small business some love when he announced he was expanding programs for the Small Business Administration on March 16, 2009.

"Our recovery in the present and our prosperity in the future depend upon the success of America's small businesses and entrepreneurs," he said.

The Obama administration announced it was increasing the amount it would guarantee to private lenders making loans under Small Business Administration (SBA) programs. Previously, the federal government would guarantee 85 percent for loans at or below $150,000 and up to 75 percent for larger loans. Under the new program, the government will guarantee up to 90 percent of all loans for a limited time.

Obama promised he would expand Small Business Administration loan programs. The SBA does not lend money directly, so these moves have the effect of expanding the program by increasing incentives for private lenders. These efforts are temporary, but Obama specifically said he would be outlining further steps on behalf of small businesses in the weeks and months ahead. For now, the Obameter moves to Promise Kept. [Read More]

WTF-66

Small Business Act.

On Sept. 27, 2010, President Obama signed into law the Small Business Jobs Act, the most significant piece of small business legislation in over a decade. The new law is providing critical resources to help small businesses continue to drive economic recovery and create jobs. The new law extended the successful SBA enhanced loan provisions while offering billions more in lending support, tax cuts, and other opportunities for entrepreneurs and small business owners. [Read More]

• New Law Puts More Capital in the Hands of Entrepreneurs and Small Business Owners

SBA Enhanced Loan Provisions – more than $12 billion in lending support
Higher Loan Limits – increased maximum loan sizes in top loan programs
Alternate Size Standards – more small businesses eligible to get SBA loans
Temporarily Allow for Commercial Real Estate Refinancing
Dealer Floor Plan (DFP) Pilot Program
Small Business “Intermediary” Lending Pilot

• New Law Strengthens Small Businesses’ Ability to Compete for and Win Contracts, Including Implementing Recommendations from the President’s Task Force on Federal Contracting Opportunities for Small Business

Equal Treatment across Federal Contracting Programs
More Opportunities for Small Businesses
Combating Fraud, Waste and Abuse

• New Law Promotes Small Business Exporting, Building on the President’s National Export Initiative

• Law Expands Training and Counseling

• New Law Provides $12 Billion in Tax Relief to Help Small Businesses Invest in their Firms, Create Jobs

• Treasury Department Provisions

I would like to list everything under each category, but there comes a time when even a blog gets too large. LOL. But make sure to click on the "Read More" links to read more on WTF-66.

I promise to come back to this topic in another issue, until then, please feel free to read my previous issues by clicking here.

Make sure to read the next issue
Issue No. 023 -Government Efficiency

WTF Has Obama Done is an ongoing series posted daily or weekly on BLADE 7184 until Election Day, 2012!