Tuesday, February 02, 2010

Obama pitches aid for struggling small businesses

President Barack Obama's bid to sell his economic agenda and re-energize voters picks up in politically significant New Hampshire, where he will again promote an idea to free up money for small businesses that are hurting.

Obama travels to Nashua, N.H., on Tuesday to draw attention to a proposal highlighted in his State of the Union address last week: funneling $30 billion to local banks so they can lend small businesses money they need to grow their enterprises and create jobs.

The trip comes two weeks after Democrats suffered the stunning loss of a Senate seat in neighboring Massachusetts, and the president is working to shore up his party's standing heading into the November midterm elections to avoid heavy losses in the House and the Senate, both of which are under Democratic control.

In New Hampshire, Obama will tour a local business and hold his second town hall in six days, a format that allows him to show engagement with the public and counter a sense of "remoteness," as he has put it, that people have had with his policy agenda.

"Jobs will be our No. 1 focus in 2010," he said in excerpts of his prepared remarks, which the White House released early. "And we're going to start where most new jobs do - with small businesses. These are companies that begin in basements and garages when an entrepreneur takes a chance on his dream, or a worker decides it's time she became her own boss."

Read more: Obama pitches aid for struggling small businesses - KansasCity.com

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