QUOTE
Kerry seeks business loans for veterans
Says ex-soldiers need assistance
By Bryan Bender, Globe Staff | March 28, 2007
WASHINGTON -- Senator John F. Kerry today plans to submit legislation that would expand federal business loans and other assistance to help reduce the unemployment rate among recently discharged service members, which government statistics indicate is as high as 18 percent for younger Iraq and Afghanistan veterans.
The Massachusetts Democrat, who chairs the Committee on Small Business and Entrepreneurship, is scheduled to unveil the bill along with a report on the economic difficulties facing returning veterans, especially members of the Reserve and National Guard who have put their civilian jobs on hold for repeated deployments.
The study by Kerry's committee staff, based on government data, found that 11.9 percent of recently discharged veterans are unemployed, compared with 4.6 percent of nonveterans; it found that 18 percent of 18-to 24-year-old veterans are out of work, double the rate of their nonveteran counterparts. Meanwhile, an estimated 40 percent of reservists lose income when called up, while the rate is even higher, 55 percent, for reservists who are self-employed, according to the report. At the same time, the share of small-business loans going to veterans from the largest federal program has dropped from 11 percent to 9 percent since 2001.
"After the Vietnam War, many veterans were left behind," said the report, a copy of which was provided by Kerry's office to the Globe yesterday. "Iraq and Afghanistan will yield a new generation of veterans who must not be forgotten."
Complete at LINK
Says ex-soldiers need assistance
By Bryan Bender, Globe Staff | March 28, 2007
WASHINGTON -- Senator John F. Kerry today plans to submit legislation that would expand federal business loans and other assistance to help reduce the unemployment rate among recently discharged service members, which government statistics indicate is as high as 18 percent for younger Iraq and Afghanistan veterans.
The Massachusetts Democrat, who chairs the Committee on Small Business and Entrepreneurship, is scheduled to unveil the bill along with a report on the economic difficulties facing returning veterans, especially members of the Reserve and National Guard who have put their civilian jobs on hold for repeated deployments.
The study by Kerry's committee staff, based on government data, found that 11.9 percent of recently discharged veterans are unemployed, compared with 4.6 percent of nonveterans; it found that 18 percent of 18-to 24-year-old veterans are out of work, double the rate of their nonveteran counterparts. Meanwhile, an estimated 40 percent of reservists lose income when called up, while the rate is even higher, 55 percent, for reservists who are self-employed, according to the report. At the same time, the share of small-business loans going to veterans from the largest federal program has dropped from 11 percent to 9 percent since 2001.
"After the Vietnam War, many veterans were left behind," said the report, a copy of which was provided by Kerry's office to the Globe yesterday. "Iraq and Afghanistan will yield a new generation of veterans who must not be forgotten."
Complete at LINK
This is a great idea.
