WASHINGTON — Small Business Administration (SBA) Administrator Kelly Loeffler said Thursday that President Donald Trump’s policies are helping American communities to experience a “historic comeback” after years of “empty promises of globalism.”
Loeffler said during a Thursday speech at the National Conservatism Conference that the U.S. is experiencing a “moral, economic and national security transformation” under Trump’s leadership. She added that she believes the nation is undergoing the “biggest” transformation “since the industrial revolution and the Cold War.”
“We are rebuilding this nation,” Loeffler said during the speech. “President Trump’s leading a historic comeback after years of neglect, abuse and waste of a nation that we have held so dear, thankfully ours is a resilient nation … We survived the policies of [former President Barack] Obama and [former President Joe] Biden for 12 years. And while great damage was done, obviously the tide is turning quickly and we are building together with youth and the broader private sector, a new America first economy. And that means that America is exceptional again. It means generational prosperity is once again possible for working families and forgotten places like the community I grew up in.”
“Heartland communities that were completely written off when empty promises of globalism hollowed out thousands of small towns and millions of dreams,” Loeffler continued. “So thanks to November 5, 2024, the U.S. is undergoing an important moral, economic and national security transformation. Probably the biggest since the industrial revolution and the Cold War.”
The SBA administrator went on to say that Trump is “obviously putting the government back to work for the American people, and the American worker and American industry are finally back at the heart of it.”
“Prior to President Trump, hardworking Americans were really flat in a draft of decline, stuck in what I call an upside down economy,” Loeffler said. “Private sector healthcare became dominated by the government, schools became dysfunctional under federal bureaucracy and politicized unions. Good jobs were outsourced to China. Alaskan energy producers were sanctioned more than Iranian oil producers. Main street businesses were buried by unreasonable red tape and climate demands. We saw it over and over.”
“Inflationary spending and rising interest rates drove working families, farmers and small businesses to the brink. and it was a doom cycle that felt like it was accelerating. And I saw it from an early age,” she detailed. “And you [all] know better than anyone the toxic combination of rising state power, globalization was never just a trend. It was a choice.”
“Thankfully, we’re returning the focus to unshackling our small businesses and entrepreneurs and President Trump’s rightly standing up to our adversaries and our allies to replace a predatory trade policy with fair trade,” Loeffler added.
Loeffler also said that Trump’s economic policies have been “completely contrary to the Wall Street Beltway media narrative.” She added that Trump did not “turn our economy upside down,” but instead “turned it back right side up.”
“Now, it’s hard to believe that it needs to be said, but the government was designed to put our workers, our citizens, our values, our economic security and our national security first. That’s finally happening again,” Loeffler said.
“And why does small business matter to America?” she continued. “You may know that it’s 99% of every business in every single state across this country. Small business makes America run. It’s the conduit of the US economic policy agenda to every corner of this nation. And that’s true for job creation, for innovation, small business really carries tremendous weight, and that’s why President Trump loves to say, ‘Kelly, small business is big business.’”
On Thursday, the SBA announced the launch of its first-ever loan program dedicated to supporting small manufacturers in the U.S.
“There’s an asymmetric risk reward tradeoff when you try to outsource prosperity and import national unity,” Loeffler said. “Now, we’re returning to building and to the lasting prosperity that American values that we need to restore by investing right here at home, and small businesses are already doing that.”
“And so the tide is turning and America’s economy is right side up again,” Loeffler added. “But for all the trillions of dollars and millions of jobs that are going to be rebuilt, the made in America economy, it’ll be hard to measure one of the most important things that you can’t find on a spreadsheet. You can’t put a dollar value on the hope of communities, on renewed faith in the future, and on the restoration of our values in this country.”
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