Remaking America: The Economic Recovery Plan

By perksconsulting |

The success of our economy has always depended not just on the size of our gross domestic product, but on the reach of our prosperity; on our ability to extend opportunity to every willing heart — not out of charity, but because it is the surest route to our common good.

-Barack Obama, Inaugural Address, January 20, 2009.

Now that Barack Obama is settling into the White House, it’s out with the old and in with the new. So, what exactly does President Obama have in store for the next four years? And how will the face of small business change?

Obama has already begun to set change into motion with three tactics that will have a big impact on small business. The first of these is his Economic Recovery Plan.

With the inauguration of a new President, the economy is at the forefront of everyone’s minds right now, especially since we’ve all been hearing so much about Obama’s groundbreaking Economic Recovery Plan. President Obama has been lobbying campaign-style for a two-step economic plan:

Phase one will involve the release of the second half of Bush’s $700 million bailout, an initiative that Congress approved last Thursday in a 52-42 vote.

The second part of the plan involves $825 billion in tax cuts and new spending to fuel the economy. While the second piece of the Economic Recovery Plan (which 58% of people surveyed by the Associated Press say will significantly improve the economy) is still in negotiation, House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid believe the proposal will be ready for the new president’s signature as early as mid-February.

So, what does this mean for small business?

With the imminent jumpstart of the economy, clients and competitors alike will be more willing to take risks and seize new opportunities. Stay ahead of the curve by taking bolder businesses steps with more confidence today.

Is Obama’s Economic Recovery plan a bit bold for a brand new president? Perhaps. But, now more than ever, is the time for change and change takes confidence, courage, and risk. Next week we will be exploring this idea of how bold is too bold in today’s economic climate. Taking bold action as a leader, whether it is that of a business owner or manager or that of our new commander in chief, is essential in weathering the economic storm. It’s time for small business to grow and the only person who can grow your business is you.

Stay tuned for tomorrow’s blog about the New Small Business Administration appointment that may change the small business landscape as we know it.

Today I say to you that the challenges we face are real. They are serious and they are many. They will not be met easily or in a short span of time. But know this, America: They will be met.

-Barack Obama, Inaugural Address, January 20, 2009.

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