U.S. President Barack Obama on Saturday appealed to fellow Democrats and rival Republicans to back a plan to use $30 billion in bank bailout funds to help small businesses. Obama has faced opposition to the proposal from Republicans who want money paid back to the government by big banks returned to the U.S. Treasury for deficit reduction. The president used his weekly radio and Web address to promote his proposals to generate job growth in small businesses by using $30 billion from the Troubled Asset Relief Program fund for small business loans and offering a new tax credit for over 1 million small businesses that hire new workers or raise wages. Pursuing a theme he began in his State of the Union address Jan. 27, Obama called on both parties to come together where they can to address the weak economy. "I urge members of both parties: do not oppose good ideas just because it's good politics to do so," Obama said. "The proposals I've outlined are not Democratic or Republican; liberal or conservative." He added, "They are pro-business, they are pro-growth, and they are pro-job. Leaders in both parties have supported similar ideas in the past. So let's come together and pass these measures without delay."
