Cut Spending Now Tour – Evansville

October 21, 2011 JBanking & Financial Services

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Last Friday, Americans for Prosperity’s Cut Spending Now tour made a stop in Evansville, Indiana. The purpose of the meeting was to highlight the runaway federal government spending that has plunged our country into record levels of debt. Already our nation borrows nearly 40 cents of every dollar it spends!

This is a nonpartisan crisis facing all citizens. As the congressional “super committee” deliberates their course of action, it is more important than ever that we get this right. Our country cannot endure more of the status quo. We need a bold solution that bravely takes this challenge head-on.

Obama Administration Finally Closes the Misguided SBLF

September 29, 2011 JBanking & Financial Services

Yesterday evening, the Treasury Department announced the closure of the Small Business Lending Fund (SBLF). The program had set aside $30 billion in taxpayer funds to invest capital in small and community banks in hopes of easing the credit crunch on small businesses. After Tuesday’s final wave of investments, total funds distributed reached a mere $4 billion (just 13 percent of the funds set aside), with investments in only 332 banks across the country – yet another example of underwhelming participation in the government’s “main street” financial interventions.