History
The SBA was created on July 30, 1953, by President Eisenhower with the signing of the Small Business Act. Its function was and is to "aid, counsel, assist and protect, insofar as is possible, the interests of small business concerns".
The SBA has survived a number of threats to its existence. In 1996, the Republican-controlled House of Representatives planned to eliminate the agency. It survived and went on to receive a record high budget in 2000. Renewed efforts by the Bush Administration to end the SBA loan program met congressional resistance, although the SBA's budget was repeatedly cut, and in 2004 certain expenditures were frozen. The Obama Administration has supported the SBA budget. Significant supplemental appropriations for the agency strengthened SBA lending through the American Recovery and Reinvestment Act of 2009 and the Small Business Jobs Act of 2010.
Read more about this topic: Small Business Administration
Famous quotes containing the word history:
“In history the great moment is, when the savage is just ceasing to be a savage, with all his hairy Pelasgic strength directed on his opening sense of beauty;—and you have Pericles and Phidias,—and not yet passed over into the Corinthian civility. Everything good in nature and in the world is in that moment of transition, when the swarthy juices still flow plentifully from nature, but their astrigency or acridity is got out by ethics and humanity.”
—Ralph Waldo Emerson (1803–1882)
“All history and art are against us, but we still expect happiness in love.”
—Mason Cooley (b. 1927)
“What has history to do with me? Mine is the first and only world! I want to report how I find the world. What others have told me about the world is a very small and incidental part of my experience. I have to judge the world, to measure things.”
—Ludwig Wittgenstein (1889–1951)