OK – we get it. The financial bailout program, a.k.a the Emergency Economic Stabilization Act of 2008, didn’t pass muster with our esteemed members of Congress this week. The President’s plan didn’t give our elected leaders – or most Americans – the confidence that it will get our nation’s financial house back in order. We understand. But, sadly, that still leaves us one more day in the red – and all the while, small business owners and our communities continue to suffer.
The many California small business owners that I have spoken to – and countless others throughout the nation – aren’t half as worried about Wall Street as they are about Main Street. They’re extremely angry and frustrated with what has taken place – and they have every right to be. After all, small business men and women – and the people they employ – did not create the financial mess on Wall Street.
While small business owners were doing what they do best – turning ideas into entrepreneurial opportunities, jobs and economic development for their communities -scores of greedy, negligent CEOs within the financial community were taking reckless risks and benefiting financially.
While hard-working Californians were showing up to work each day, treating their customers with respect, carrying out their duties and returning home each day to provide for their families, hordes of fat-cat titans swindled, dawdled and fiddled as Rome burned.
Congress needs to earn their pay and find a solution NOW. Small businesses need liquidity in the market and access to credit, both to ensure a stable cash flow and to expand their businesses now.
All too often, our elected leaders forget that the men and women who own and operate the neighborhood pizzeria, the dry cleaning store in the downtown district, the auto repair shop around the corner are the ones who have been feeding this economy and providing jobs. And as we’re seeing with this financial crisis, although small business is the largest contributor to our nation’s livelihood, they ultimately have the most to lose.
Congress made their point – they weren’t satisfied with the plan that was on the table. For the sake of small businesses and all Californians, they have a responsibility to do what they were elected to do – remain at the table until something meaningful gets done.