Political Quotes

“This says: Is small business credit in a deep recession? This is the NFIB. They are one of the most conservative business organizations. I want to read to you their executive summary. It says: Forty percent of small business owners attempting to borrow in 2009 had all of their credit needs met. Forty percent. Ten percent had most of their needs met. Let's say that 50 percent had most of their needs met. That means that 50 percent of the 27 million small businesses in America did not have their needs met. This is not the Sierra Club here. This is the National Federation of Independent Business, one of the most conservative business groups. I don't know who wants to come to the floor and say they don't know what they are talking about. I think they do on this subject, and on others. I don't agree with them on everything, but they are very legitimate when it comes to what their members say. They said that 50 percent did not get their needs met. The financial institutions extending lines of credit during 2009, when the country was operating at a high level--the same survey--a few years earlier, before the recession, said that 90 percent of businesses were finding the credit they needed. That is why we were having great economic times, because small business could get credit. This is economics 101. This is not complicated. Right now small businesses have credit card debt up to here. They are paying 16 and 24 percent.”