President Obama recently signed into law the Small Businesses Jobs and Credit Act that would cut taxes and provide credit help for small businesses. It is no secret that small businesses, long the backbone of our economy, have taken the hardest hit during this recession due to a reluctance for lenders to lend and consumers to buy.
At the signing ceremony President Obama said the government “can’t create jobs to replace the millions that have been lost in the recession, but it can create the conditions for small businesses to hire more people.”
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