McCaskill: Left over money should go to small businesses

With money left over from the federal financial bailout, the next step is to figure out what to do with that money.

President Barack Obama wants to use the money for more tax breaks for small businesses.

Sen. Claire McCaskill said, in a satellite interview, that Congress should go further and set up a direct federal loan program to small businesses.

" We'll there are thousands of small businesses that are poised to add employees and grow right now, but simply can't get loans from their banks and this would provide those loans, at low interest, McCaskill said. I think that if a small business has survived through this recession they are in good shape to be able to take out a loan, because clearly they've had to make cuts."

McCaskill yesterday spoke with Missouri small business owners and said problems with the tight credit markets was a common theme.

McCaskill predicts most of the new jobs over the next year will come from small businesses.