Gallery: President Obama Comes to New Jersey

President Barack Obama arrived at Newark Liberty International Airport at about 1:30 this afternoon.

Stepping from Air Force One, the president waved to the press and a group of about 40 onlookers standing at the side of the tarmac, then briskly descended the stairs from the airplane. Waiting on the tarmac were Gov. Chris Christie and Newark Mayor Cory Booker, who welcomed the president with handshakes and, judging by Obama's reaction, a joke. The three spoke for about three minutes, and Obama then strode alone to a waiting Marine Corps helicopter. Followed by four additional helicopters carrying staff members and the White House press pool, Marine One took-off at about 1:45.

Obama visited the Tastee Sub Shop in Edison, where he spoke with four local business owners, including the shop's owner, to promote a stimulus bill for small businesses.

The bill, called the Small Business Jobs Act, would create a $30 billion "Small Business Lending Fund" for small banks – those with less than $10 billion of assets. The fund would be tied to incentives to encourage those banks to lend to small businesses: the more loans they extend, the lower the interest rates they pay on moneys they receive from the Small Business Lending Fund. The bill would also extend, adjust and expand some Small Business Administration Recovery Act provisions. 

The bill is currently in the Senate, where Democrats are working to block Republicans from amending the measure. A vote is expected next week.

At the Tastee Sub Shop, Obama held a roundtable discussion with the business owners, then delivered his own remarks at 2:45, according to a separate press release distributed Wednesday afternoon by the White House press office. The President spoke for seven minutes, it said, noting that Thomas Edison – for whom the town of Edison was named – was not just an inventor, but a "pretty savvy" small businessman himself.

Stay tuned to Patch for local business owners' reactions to the proposed stimulus measure.