Video: Did Pres. Obama Fail Business 101 at Briefing?
RUSH: Jake Tapper says, look, these business guys are not expanding because they don't know what's coming at them down the road, what do you say to that? Blame Bush, blame Bush, blame Bush, blame Bush. And so Tapper said: "A small business, not affected by the regulatory reform, a small business. You have proposed, you would acknowledge, a bold agenda, and a small business might wonder, I don't know how the energy bill will affect me, I don't know how the health care reform bill will affect me, I better hold off on hiring."
OBAMA: The small businesses I've talked to and I've been talking to a lot of them as I have been traveling around the country, their biggest problem is right now they can't get credit out of their banks, so they're uncertain about that, and they're still uncertain about orders. You know, do they just have enough customers to justify them doing more? It's looking better at this point, but that's not the rationale for people saying I'm not hiring. Let me put it this way. Most small businesses right now, if they've got enough customers to make a profit and they can get the bank loans required to boost their payroll, boost their inventory and sell to those customers, they will do so.
RUSH: Oh, man, you don't borrow money to make payroll. He really does not have a clue. He is absolutely clueless. Of this I am certain. It's dangerous because he's got these people in his crosshairs but he is clueless, small business people -- I want to play this again. Recue it, Mike. Let me put it this way. "Most small businesses right now, if they've got enough customers to make a profit --" No, they don't. Where in the world does this come from? "-- and they can get the bank loans required to boost their payroll, boost their inventory and sell to their customers, they will do so." You don't borrow to meet payroll except as a last resort. You lay people off. This is dangerously naive, ignorant. Coupled with his overall view of business anyway, he doesn't like profit. Folks, the sheer ignorance combined with a cockiness and an arrogance is just unbelievable. "The small businesses I've talked to and I've been talking to a lot of them, they can't get credit out of their banks," and then later on he says they can get credit to boost payrolls. Here listen to it again, I mean you small business people, you need to hear this. This is a guy who's telling you, you don't know what you're doing. This is the president of the United States saying, no, you're wrong. It's not that you're waiting to see what punitive policies of his come down the pike, no, you just think you can't get credit...you don't borrow money to make payroll. That's business 101. That is tough to get a loan to do that. I mean you go into the bank, "I want to expand the payroll, can you get me a loan?" the bank will say, "No, no, no, that's not how it works. Grow your business and let your profits pay for new hires." I am aghast. I mean this is sheer unadulterated, undisguised idiocy. This is promoting, folks, the same tactic that put us in the mortgage crisis, the subprime mortgage crisis. Borrow money to make payroll and then go on the road to put yourself out of business and not pay the bank back, or loan money to people who have no hope of ever paying it back in the form of a mortgage because a government regulator is telling you you must and Janet Reno is promising you you'll be investigated if you don't, and then Barney Frank and Chris Dodd come along and say you better do this, this is affordable housing. And Obama wonders why the value of houses has plummeted, so many people are underwater, it's because so many people, God love 'em, who had no business getting a mortgage, got them.
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cooperscopy
Of course he failed business 101...He knows nothing about creating jobs and stimulating the economy...All he can stimulate is public hiring and the tingle up Chris Matthews leg...Read: Obama tips his hand on tax increases.....at.....
http://cooperscopy.blogspot.com/
NotsoSilent
Obama's administration has only one person who actually had a business and it failed, the John Kerry donut business, no kidding.....and they want to help small business? help them what? fail?
manup
This guy has lived off other people money all his life, He has no clue how Real Americans make their living...With the progressive movement he has a big following..THEY ARE GOOD AT SPENDING OTHER PEOPLES MONEY.!!!
Tel...
Ash....do you know the difference between non-profit and private sector?
East Bay Larry
This is not surprising, neither Obama nor any of his advisors has ever ran a business and had to make payroll.
ash
You still don't address the issue...Rush's comments. Are his comment correct? I have shown them not to be correct.
manup
You Idiot you haven't shown anything - Now wheres that link to Obama's resume??
Bill /Az
BHO failed in everything. He passed Lying and was valedictorian
DP
Obama failed nap time in Kindergarten !!!
Josey Whales - Missouri
@Foxfull ....
Libs and Progs advocate for collectives; Conservatives advocate for themselves .... remember, this is a capitalistic society.
Pebbles
Thanks, Fox, for not printing my last comment--it wasn't meant to be the way it could have been interpreted. It was a joke. Anyway, thank you. It would have come off wrong.
HEY LIBERAL MUTANTS------
30 YEARS OF ALINSKY#5 ( RIDICULE..ATTACK, ATTACK, ATTACK!) APPLIED BY THE LIBERAL/PROGRESSIVE TOWARD ANYONE OR ANYTHING CONSERVATIVE. NOW WE'VE ONLY BEEN RESPONDING FOR A YEAR AND THEY WANT TO CEASE AND DISIST WITH THE NAME CALLING AND INSULTS?....IF MY CALCULATIONS ARE CORRECT, WE'VE STILL GOT 29 YEARS TO GO FOR IT TO BE EVEN! (besides, I never realized it could be so damn much fun crushing libtards with both ridicule and fact.)
ash
@ Tel---“Rush was clear in what he said, borrowing to meet payroll is a last resort for a business in serious trouble. It's not "par for the course" for a good business.”
=========
First, no one said it was “par’ for the course, but it is common. Second, when businesses, especially manufacturing, have been downsized and start to gear up production it is not uncommon for them to use lines of credit to support cash flow as they increase their payrolls to help meet new production. They hire back old employees or hire new ones. We are seeing manufacturing pick up….
======
“The strongest piece of economic news came from the Institute for Supply Management, which said its index of U.S. manufacturing activity grew for a sixth straight month in January to the strongest level since August 2004.
The trade group said factories increased production as customers replenished inventories”
Published: Tuesday February 2, 2010
=========
Increased production…ramp up production…hire back employees…some increase payroll….some will use lines of credit to do so…borrowing to increase payroll…..get it?
Josey Whales - Missouri
@Foxbull, your post at 1:56 ....
Just like Obama has tricked the ignorant into voting for him.
kalifornia
I bet it will be a chilly day in hell before we make this mistake again…..
foxbull
William,
you get paid 40,000 per year because nobody advocates for you, because the BIG guys have calculated how to pay you so little, and then get every dollar from you so you have nothing left to save. Keep voting to protect the weathy, and your life will never change. And we are paying Rush Limbaugh millions to distort what people are actually saying
foxbull
William,
you get paid 40,000 per year because nobody advocates for you, because the BIG guys have calculated how to pay you so little, and then get every dollar from you so you have nothing left to save. Keep voting to protect the weathy, and your life will never change. And we are paying Rush Limbaugh millions to distort what people are actually saying
ash
@ California has failed
Ash, it's obvious you haven't run a business either. Obama thinks businesses borrow money from banks to hire people. Why would you "ramp up," if there is no demand. Demand is contracting.
=================
“The strongest piece of economic news came from the Institute for Supply Management, which said its index of U.S. manufacturing activity grew for a sixth straight month in January to the strongest level since August 2004.
The trade group said factories increased production as customers replenished inventories”
Published: Tuesday February 2, 2010
=========
Increased production…ramp up production…hire back employees…some increase payroll….some will use lines of credit to do so…borrowing to increase payroll…..get it?
foxbull
Beck and Limbaugh have gotten filthy rich tricking people into voting against their own interest. The Rush and editors of this page have distorted what was actually said.
foxbull
Beck and Limbaugh have gotten filthy rich tricking people into voting against their own interest. The Rush and editors of this page have distorted what was actually said.
NotsoSilent
Yea and I see absolutely NO distortion on the left side of the isle.............uh huh......I need taller boots the manure is piling up here on the left
NotsoSilent
Yea and I see absolutely NO distortion on the left side of the isle.............uh huh......I need taller boots the manure is piling up here on the left
Josey Whales - Missouri
Obama took business courses????? It doesn't show!
ash
@ Tel - You posted this yesterday and it is still not true today...
"Keep this in mind.
Obama has never earned a paycheck from the private sector other than for the books Ayers wrote for him.=
=================
This not true. He was a professor with the University of Chicago Law School for several years. He was paid.
Tel...
It's a non-profit Ash....did you forget that.
Oh and obama was titled' Senior Lecturer not profressor.
Tel...
It's a non-profit Ash....did you forget that.
Oh and obama was titled' Senior Lecturer not profressor.
@ash
I'LL BET HE DRESSED JUST LIKE DUMBLEDORE ---DON'T YOU THINK? ☺☺☺☺
soonan TX
ash
Well, as I read the thread I see a lot of nothing. No one seems to address the actual point of the thread, which is what Rush said about loans to small businesses and what the President said in his remarksRush is just flat wrong. Small businesses use lines of credit for payroll all the time, as well as for inventory, etc.==================================================Are you still fixated on lines of credit? Do you wear blinders like a horse? You do realize you are the only one preaching this line. You are all alone.
soonan TX
J Doughtery
Beck and Limbaugh have gotten filthy rich tricking people into voting against their own interest. This healthcare reform debate is no different. There are people on this board who have no insurance for their families who are speaking out (proudly) for the BIG guy (not the little guy)==========================================================Brain washed by Reid, Pelosi, and Obama. Do you really think these people care about the "little guy" or really care about "I Got The Power!?"
franks1
Once all the Banana trees are planted we will come out of this.We will be the largest banana republic and have the market cornered. Great job Obie
Authentic Conservative
For the leftist Ignorant, thoughtless Obama Voter.
*
The Rasmussen Reports daily Presidential Tracking Poll for Tuesday 02/11/2010 shows that 25% of the nation's voters Strongly Approve of the way that Barack Obama is performing his role as President. (39%) Strongly Disapprove giving Obama a Presidential Approval Index rating of -14
*
Total Disapprove 52%
*
"Burp"
*
Twenty Ten by Lloyd Marcus
*
http://www.youtube.com/watch?v=UZkvkLmkYVg
Tel...
Keep this in mind.
Obama has never earned a paycheck from the private sector other than for the books Ayers wrote for him.
He's surrounded himself with "advisors" that have never met payrolls. They're academics who sit around postulating, theorizing and looking down on the unwashed people.
Obama was raised in a socialist/leftist environment. He knows nothing else other than "what can government do for me". That actually means "where are the tax dollars for me?".
Rush was clear in what he said, borrowing to meet payroll is a last resort for a business in serious trouble. It's not "par for the course" for a good business.
Obama though (as we've come to expect from him) won't blame his policies for all the uncertainty in the growth sector, he's blaming tight credit. And he forgets that his demonizing, over-regulations and punitive actions on financial institutions only contributes to the tightened credit.
Obama's a farce, a joke, he knows nothing just like he doesn't know how to say corpsman correctly. He's a fascade, a construct of Davids Axelrod and Plouffe.
BS Police
Romney/Palin 2012
Tel...
That's the way J Dougherty, gin up some clas$ warfare. It's been the lefty tool of choice for years....just like useful idiots like you are.
J Doughtery
When did common sense become "class warfare"?
cooperscopy
He's never really had to create a private sector job in his life, and doesn't have the foggiest idea what it means to create jobs, except of course government jobs.He's creating them exponentially...read: Biden talks about Sarah...at.....
http://con-men4palin.blogspot.com/
OBAMA IS A "GALACTIC" FAILURE---AS ARE HIS BOOT LICKERS ON THIS FORUM..!
J Doughtery
Beck and Limbaugh have gotten filthy rich tricking people into voting against their own interest. This healthcare reform debate is no different. There are people on this board who have no insurance for their families who are speaking out (proudly) for the BIG guy (not the little guy)
WillIam Dowdy
Health care? If you do not have health care then I am sorry for you. I been there for many years and know what it is like. BUT I did NOT ask one singal person to pay for it for me. I work, my wife works, together we dont break 40000 a year and pay in a couple a grand a year in taxes because we have no kids and now you want me to pay for someone elses health care. BITE ME!!
J Doughtery
Obama wants to give more people access to it...the government is not going to be paying for everybody's health insurance. There is so much misinformation coming out of the rightwing spin machine, you've resigned yourself to believe that this is some sort of a handout. This is a bill designed to bring down healthcare costs and so that millions of more families can afford to get care for their kids. What is wrong with that?
California has failed
You just keep repeating the same thing over and over. It's as if you think people care what YOU think. You have no knowledge, why would anyone care what you think. And you are a racist.
OBAMA IS A "GALACTIC" FAILURE---AS ARE HIS BOOT LICKERS ON THIS FORUM..!
DUMBocratNoMore
Another Obozo gaffe...I am AGNOSTIC when it comes to tax hikes!!!!!
tennessee vet
He must have cheated on the test. Maybe his teleprompter was not working when he took the class. He is the biggest dumb ass to have ever graduated from Harvard. Are we sure he even went there?
Recon
We see who serious about dealing with the issues of our Country,
the messages couldn't have been CLEARER.
It's not Chairman 'O'.
J Doughtery
Beck and Limbaugh have gotten filthy rich tricking people into voting against their own interest. This healthcare reform debate is no different. There are people on this board who have no insurance for their families who are speaking out (proudly) the BIG guy (not the little guy)
OBAMA IS A "GALACTIC" FAILURE---AS ARE HIS BOOT LICKERS ON THIS FORUM..!
businessowner
Of course he failed/ they all have. I can't think of one business owner that would take billions of dollars and give to to someone for the research of a beetle, or to the performing arts; when you have a huge debt! I also can't think of a business owner that would put up with fraud and waste; like we have in medicare and in our govt. We have to account for every cent that we spend/ our govt has no accountability. Therefore they all fail!!! And Obama didn't inherit anything from Bush-- This mess was passed on from a Democratic Congress and the Republican Party just let it happen/// shame on them all! And this administration needs to stop with the blame game and start taking care of business.
arfdah
Fail????? BO and his lib friends did not even open the book!
C. D.
In the nutshell, America: neither Obama nor his Congress understand the principles of business. Calvin Coolidge who wisely downsized government and taxes and GOT OUT OF THE WAY, once stated: "The business of America is business." HE GOT IT. Unfortunately, since then, we have a Federal government comprised of life-long politicians who have NEVER held real jobs. Even worse: many of our Federal officials and "lawmakers" are lawyers. Result? We keep on getting all kinds of regulations and laws shoved down our throats that WORK AGAINST CREATING THE BULLISH ECONOMY BUSINESS CAN DEVELOP IF THEY'D ONLY LEAVE US ALONE! Sick of it yet? We need a leader to emerge who will get into the White House and work with a new Congress to rescind, repeal, slash and burn punitive policies that have shackled business and TURN US LOOSE so we can fix the economy. We're the only ones who can do it; government can't.