Obama praises small biz, community banks

SEATTLE, Aug. 17 (UPI) -- U.S. President Barack Obama praised small businesses and community banks and took big banks to task at a round table discussion in Seattle Tuesday.

Obama also criticized congressional Republicans for blocking legislation he said would provide more help to small businesses struggling in the current economy.

"The bottom line is this: America's small businesses are the backbone of our economy and the cornerstones of our communities. The folks who own them work hard, meet their responsibilities ... nobody here is getting too fat and happy; everybody here is operating on very lean margins, and they are constantly thinking about their employees and their obligations and responsibilities to them," Obama said, adding that Washington must "look out" for small businesses in the same way.

Besides the round table, Obama's 4-hour visit on Washington's primary election day included several Democratic fundraisers, including an event for U.S. Sen. Patty Murray, who is seeking re-election.

Obama credited Murray with helping get key portions of his agenda passed.

"If I did not have a partner like Patty, we would not have been able to invest in clean energy like never before in our history," he said. "If I didn't have Patty Murray, we would not have been able to get small business loans out at a time when most banks had completely contracted and a lot of folks were on the verge of going under. If it hadn't been for Patty, states like Washington would have had to lay off tens of thousands of teachers and firefighters and police officers."

Obama was scheduled to leave in late afternoon for Columbus, Ohio, as part of a five-state fundraising swing for Democrats.