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Obama Plans to Cut SBA Budget Almost in Half
The president's 2012 budget proposal slashes Small Business Administration funding by 45 percent, although the agency's 2010 total was significantly inflated because of stimulus spending.
Posted 2/ 14 11 at 3:00 PM | News, Money, Starting a Business, Taxes & Accounting, Legal Issues
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Uncle Sam's Great Recession stimulus for small businesses may soon be over. The Small Business Administration faces a 45 percent decrease in funding, as part of President Obama's 2012 proposed budget released Monday.The proposed SBA budget stands at $985 million for 2012 -- down from the $1.8 billion the SBA received in 2010, a total that was fueled in large part by $962 million in supplemental stimulus appropriations that were designed to help boost small-business loans. Those appropriations are no longer available for 2012.
Other areas slated for budget cuts include Small Business Development Centers, which provide support and mentoring to entrepreneurs, and administrative costs, including a $7 million drop in salaries and expenses.
The SBA isn't the only government department that will have to figure out how to do more with less in the 2012 budget. Overall, Obama's $3.73 trillion budget proposal makes substantial cuts to some domestic programs and freezes others, with the goal of slashing the federal deficit by $1.1 trillion over a decade.
In that context, small-business lending fares pretty well. The 2012 SBA budget allows for about $27 billion in loan guarantees, including $16.5 billion in 7(a) loan guarantees and $7.5 billion in guaranteed lending for commercial real estate development and heavy machinery purchases, as well as $1.1 billion in direct loans for disaster assistance. From fiscal 2007 to 2010, the annual amount of disaster loans for businesses and homeowners in federal disaster areas averaged $837 million.
To see the complete 2012 SBA budget proposal, click here.
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Comments (Page 1 of 4)
No body that realy needs it can get a loan from SBA anyway.
HEY MajKarma....LEAVE NOW!
YOU FEARMONGER ;+(
I really wonder just how many of you "Obama supporters" are still behind him? More to the point, what else and how much will it take before you finally understnad that this guy doesn't have the best interest of our country at heart, he ONLY cares for himself and his close "friends" who live like he does. I'm sure there are many who will go to their grave actually believing this guy is the second coming but hopefully the majority of his "followers" are finally seeing just what he is made of. Until that day comes our country will keep on going down hill with no end in sight!
Hey Joe, Kinda like Bush and his oil interest friends huh? You republicans kill me. Always accusing other partys of doing EXACTLY the same things in which YOU are already experts at doing.
Can my project help many? Is it 100% Green? Can it be started now? You Bet to all !!!
My green motor build that is currently underway and it is 100% Green and clean. (Investors?)
This motor and water as a fuel source program I am developing will use seawater as a fuel to energy and an abundance of fresh drinking and irrigation water. The future will allow Alaska to have greenhouses for year round produce and with more work all other food stuffs can be grown there at will. Yes, if there, then anywhere. Alaska has a special place in me to one day help them with local food production and a future for those who can't see one. God Bless them. KRK Atas.CA
The Motor will run anything from a motorized skateboard to a ocean liner. Yea, cool. Many facilities and production lines are going to be needed. Where else, right here in America. I would hope to have a facility in every state. Even my third world state of California. Don't get me started on what the state has done to us.
One day when my Industry is producing retail sales, I only hope our Government will stand up and protect what's coming up from good old American ingenuity for The American Dream.
There is nothing wrong with being an Exceptional Country.
There is no Prize for showing up (parents and schools).
Schools need to be redesigned for our kids to be successful in the real world.
I am grateful for the gifts, of being an American and having the God Gifted Talent to do what I do.
America needs our help now more then ever as she is under attack from outside and from with in.
Cutting state unions out and shrinking government is the answer to the next Technology Boom and America's way to get a huge influx of jobs and out of debt.
The Tomorrow we are designing and building has an unlimited future and Space it's self, will have no boundaries.
Big oil will become extinct from the big world market, as Supply and Demand will fall for oil.
Nothing personal.
It's just a matter of funds and time for me now, oil company. Corn, fungus... will produce CO 2 when used. Food as a fuel source (?) is at best moronic. Well look at what has happened with shortages government / tax payer money used, 600 billion. If I had .0001% of that money, America would change rapidly, this year.
The American Dream Would take ROOT all over our country in spite of our government. (I'm in CA, yea)
Small Business in every state ... the president is saying, no thank you.
He spends $250,000 on every day trip he goes on. In some cases much more.
Two hundred and fifty thousand one hour speech. Two times a week.
One plane with a big screen monitor...
The White House needs Video Conferencing, Ta da millions of tax payer dollars saved.
Hey, Ed...You dummycraps kill me. All you guys got is blaming Bush...Dude, the guy's been gone for over two years...get over it you moron...Obummer has done nothing good for America since he's been in DC and I don't see anything on the horizon that's going to make things any better...Here at home and overseas....
Does anyone actually believe that Obama wants anything but bring America to its knees so his handlers can finish bankrupting us, buy what is worth having for pennies on the dollar and then turn us into a Police State when we react? Think Congress isn't in on it? Think this a republican-demotrat issue? Are all of you so brainwashed? Well, you are standing by while our country is being oveerthrown from within and all these media sources are owned propaganda machines for the same people. Small Business Administration Loans? Why? So some might be able to start rebuilding our country? Heck No!
G Smith is so correct. Should do away with the whole SBA.
BJ
What party does he belong to? I wonder if they have dirty pictures of him?
You should do your research before complaining about what "should be done". People who receive public assistance are very often, if not always, asked to do volunteer work in exchange for the assistance they receive. Those who don't, are usually UNABLE to work. If you are ever in NEED of assistance, don't expect it to be a "free ride". IT ISN'T.
Again hurting small businesses trying to keep going. I think the government should make major cuts in food stamps, public housing, welfare and free giveaways to those who haven't worked in years. Maybe they could find someplace to put them to work in the government in exchange for using these programs. Also got funding for dumb studies on birds etc and all the crazy things they have scientist study that has no redeeming value.
so...the SOB is cutting the SBA....
MajKarma you are right on, Obama is playing everything by the book his mentor wrote, Rules for Radicals-1971, authoor Saul Alinsky - 1971. This neo-marxist president is, intent on destroying our constitution and socializing whatever it takes to do it.
Cut public assistance programs way down and get all of them to work. The whole south side of my block is on government aid, no one works, they all smoke pot all day and live in HUD subsidized rent controled apartments at $450 a month for a 3 bedroom. That has got to change...lazy, stealing asses!
In order for people to receive public assistance, they should be required to volunteer a portion of their time and/or working for the community they live in. The government, both on the federal and state level should not be involved in the charity business. As we all know, government is not qualified to run any program efficiently and therefore any type of charity should be handled in the private sector, such as community organizations.
Even though I agree there is to much spending within our own country for totally moranic things, what about cutting funding and "charity" to other countries that hate our existence. Here is an idea, let these other countries get assistance from someone else and we keep our own money.
If Obama wants to fix healthcare, how about we pass a law that requires all public servants, ie. Congress and the President to be on the same plan and pay their own premiums just like the rest of us do (of course those receiving it free do not pay anything since those working pay for it). Also, why do I have to plan for my own retirement but congress and the president do not have to? I bet we could make a nice dent in our deficit if we cut back on the "people" having to pay for everthing. What do you think?
When people get public assistance in this state, they ARE required to work and/or volunteer a portion of their time in their community. My son received food stamps of about $400 a month for several months while he was out of work. He worked in the DHS Office for several weeks, every day. Then he worked forty hour work weeks, for several months doing carpentry for free, building Homes for the poor. They logged his hours and turned them in on a report to the State DHS Office. He did that right up until he finally got the job he has right now. He has been working at this job for two years and no longer needs food stamps.
It is votes!!
Where do you go to get the most votes with the least effort? Unions
Where do you get the most money while making the fewest people mad? The wealth
How long will this last? Until we end this process of elections and constitutional rights
You don't understand. Once you have been elected to congress or the whitehouse, you instantly become and expert in EVERYTHING
In order for people to receive public assistance, they should be required to volunteer a portion of their time and/or working for the community they live in. The government, both on the federal and state level should not be involved in the charity business. As we all know, government is not qualified to run any program efficiently and therefore any type of charity should be handled in the private sector, such as community organizations.
Even though I agree there is to much spending within our own country for totally moranic things, what about cutting funding and "charity" to other countries that hate our existence. Here is an idea, let these other countries get assistance from someone else and we keep our own money.
If Obama wants to fix healthcare, how about we pass a law that requires all public servants, ie. Congress and the President to be on the same plan and pay their own premiums just like the rest of us do (of course those receiving it free do not pay anything since those working pay for it). Also, why do I have to plan for my own retirement but congress and the president do not have to? I bet we could make a nice dent in our deficit if we cut back on the "people" having to pay for everthing. What do you think?
We saw what Zero bam had instore for the this country "spread da weath" plus Chuck Schmuer and Pelosi spend,spend, spend and tax the chit out of corporations so we started firing people prior to zero taking office and invest in over seas's corporations and thank al mighty Allah we made the right choice .We fired over 160 people they like Zero were Never proud to be Americans thus the zero will take care of them as soon as he stops going on his 5 million plus vacations (LET THE unemployed eat CAKE) mrs Zero Bama stated
Eliminate all Federal pension. Let everyone get social Security like the rest of us. and eliminate people retiring on disability pensions. Put them on Workmens comp like everyone else.And the day they are better send them back to work. Many police and fireman retire because of blood pressure problems. Well that is controllable today. Put them back to work and give them pills for BP like the rest of us take.And we go to work everyday. Give them a desk job temporarily or an easy walking beat. Walking is good.It will lower your blood pressure.