Small Businesses to Receive Payments Faster from Federal Government

President Obama is going to announce his plans today on implementing faster payment times to firms currently in government contracts.  While the payments currently are made every 30 days, this time will now be shortened to 15 days.  According to the White House press secretary, Jay Carney, the president hopes that getting the businesses paid sooner will enable them to put the money back into the economy and hire more workers.

According to a poll on Tuesday, September 13, by CNN/ORC, the disapproval rating for Obama was at 55 percent, which is a record high for the president.  Hopefully this new change that shortens the time in between government payments to contracted firms will inspire small business owners to hire more people and provide some much needed comfort and strength to the affected businesses in these turbulent economic times.

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Obama to speed payment to small businesses