Democrats are 'loan' wolf on spending

Democratic Congressmen are seeking to pass a bill to increase small business lending. The bill would create a $30 billion government fund to help community banks increase lending to small businesses, combining it with about $12 billion in tax breaks aimed at small businesses. Banks would be able to use the lending fund to leverage up to $300 billion in loans to small businesses.

This is another bill that would increase government borrowing to pay for the loans, increase the budget deficit and the national debt. Even if loan money became available, businesses are reluctant to borrow money with the economic uncertainty generated by out-of-control government spending and looming massive tax increases. Unlike the government, businesses cannot print their own money and must pay back their loans.

The answers to a prosperous economy have remained the same: low corporate tax rates, competitive labor costs, reduced litigation costs, and relief from burdensome government regulations.

While Republicans and conservatives have espoused the proven principles of a free-market economy, where consumers, not the government, determine success and failure, the Democrats continue to be the “loan” wolf.

Ray Cziczo

Antioch